Posted: October 16, 2018 AP Stocks surge on earnings and economic data; Dow climbs 500 October 16, 2018 NEW YORK (AP) — World stock markets are rallying Tuesday, and U.S. stocks are on track for their second-largest gain in 2018 following strong earnings reports from major U.S. companies in finance and health care. Technology companies are also rising after their recent slump. The Dow Jones Industrial Average rose as much as 502 points.Even with the big gains, major indexes are still broadly lower for the month following a two-day rout last week that erased nearly 1,400 points from the Dow.Investors were encouraged by some good news on the economy. The Federal Reserve said output by U.S. factories, mines and utilities climbed in September despite the effects of Hurricane Florence, and the Labor Department said U.S. employers posted the most jobs in two decades in August while hiring continued to increase.KEEPING SCORE: The S&P 500 index jumped 54 points, or 2 percent, to 2,805 as of 2:45 p.m. Eastern time. The Dow gained 494 points, or 2 percent, to 25,745.The Nasdaq composite climbed 192 points, or 2.6 percent, to 7,623 as technology companies reversed some of their outsize losses from the last few days. The Russell 2000 index of smaller-company stocks rose 39 points, or 2.6 percent, to 1,592.Earnings for U.S. companies climbed about 20 percent in each of the first two quarters of 2018 as economic growth picked up and corporate taxes were slashed. Analysts expect similar results in the current period.Stocks have gyrated over the last three days following a six-day losing streak that included some of their biggest declines of the year. The S&P 500 fell 6.9 percent from its record high on Sept. 20 to its recent low on Thursday. It remains 4.3 percent below that record level.HEALTHY…: UnitedHealth, the largest U.S. health insurer and provider of privately-run Medicare Advantage plans, once again topped Wall Street forecasts and raised its projections for the year. The stock climbed 4.1 percent to $270.95. Other health insurers also rose. Cigna advanced 3.8 percent to $211.70 and Humana rose 3.4 percent to $327.90. Medicaid service company Molina Healthcare jumped 4.1 percent to $144.26.Health care products giant Johnson & Johnson added 1.4 percent to $135.89 after it said prescription sales jumped. Its results, too, were stronger than analysts expected.…AND WEALTHY: Morgan Stanley rose 5.7 percent to $45.94 and Goldman Sachs added 2.4 percent to $220.38 after the two investment banks did better than expected in the third quarter, helped by strong performance in their trading operations and better-than-expected revenue from stock underwriting. Morgan Stanley’s stock has fallen 12 percent this year and Goldman has lost almost 14 percent.TECH UPDATE: Technology companies rose. Microsoft jumped 2.8 percent to $110.65 and Adobe rallied 8.6 percent to $258.36 after it backed its fourth-quarter profit and revenue forecasts. The stock has jumped 47 percent this year, but had slumped in recent days. Internet companies also advanced. Alphabet, Google’s parent company, rose 2.4 percent to $1,128.80.Email delivery company Sendgrid climbed 14.8 percent to $35.50 after cloud communications platform company Twilio agreed to buy it for $36.92 per share in stock, or $1.7 billion. Twilio fell 3.4 percent to $73.56.SUSPENSE FOR NETFLIX: Netflix rose 2.7 percent to $342.04 ahead of its third-quarter report Tuesday afternoon. The streaming video company has struggled over the past three months and has fallen almost 20 percent since its second-quarter report, when it posted disappointing subscriber totals and gave a weaker forecast than analysts expected.It’s still up 78 percent this year, the third-best of any S&P 500 stock.O CANNABIS: On Wednesday Canada will legalize marijuana nationwide. While cannabis companies mostly traded lower Tuesday, the stocks have made huge gains this year in highly volatile trading. Tilray fell 5.7 percent to $156.27 while Canopy Growth shed 7.1 percent to $52.87.On Tuesday Benchmark Capital analyst Mike Hickey started coverage of Tilray with a $200 price target, saying its supply deals with pharmacies and a partnership with drugmaker Novartis will help make it an early leader in the market. Hickey valued the Canadian cannabis market at about $3.2 billion in 2019 and said it will climb to $8.1 billion by 2023.Tilray’s market value stands at $14.5 billion, up ninefold since it went public in mid-July, and Canopy Growth has more than doubled in value to $12 billion. Canopy announced a $4 billion investment from Corona beer maker Constellation Brands in August. The huge gains reflect investors’ view that that other countries will legalize marijuana in the years to come.ENERGY: U.S. benchmark crude oil added 0.2 percent to $71.92 per barrel in New York. Brent crude, the international standard, rose 0.4 percent to $81.14 per barrel in London.Wholesale gasoline rose 1.7 percent to $1.98 a gallon and heating oil picked up 0.6 percent to $2.34 a gallon. Natural gas lost 0.1 percent to $3.24 per 1,000 cubic feet.BONDS: Bond prices edged lower. The yield on the 10-year Treasury note rose to 3.17 percent from 3.16 percent.METALS: Gold rose 0.1 percent to $1,231 an ounce. Silver lost 0.2 percent to $14.70 an ounce. Copper slipped 0.3 percent to $2.78 a pound.CURRENCIES: The dollar rose to 112.27 yen from 111.88 yen. The euro fell to $1.1577 from $1.1584.OVERSEAS: France’s CAC 40 added 1.5 percent while the DAX in Germany jumped 1.4 percent. Britain’s FTSE 100 rose 0.4 percent. Italy’s FTSE MIB jumped 2.2 percent after the government avoided last-minute delays in presenting a budget plan.Japan’s benchmark Nikkei 225 rallied 1.2 percent and the Kospi in South Korea was little changed. Hong Kong’s Hang Seng index finished 0.1 percent higher. AP, Categories: Local San Diego News, National & International News FacebookTwitter
When it comes to acquiring new customers, almost half the executives said paid social media is the top-performing channel. But programmatic displays ads were cited by one-third as a good way to acquire customers. Meanwhile, marketers seem to be getting their heads around the complexities of programmatic’s attribution component. The survey found 84 percent find it critical or very important to marketing success, up from 35 percent in 2014. But, says Berke, “The right way to approach attribution is becoming increasingly complex.” Billed as a state-of-the-industry status update on how marketers are employing “retargeting, programmatic advertising, and performance marketing,” the study is based on a survey of more than 1,000 advertising and marketing executives, designed to assess how companies are thinking about—and adapting to—all of the new opportunities afforded by programmatic advertising. The study also explored the current thinking around e-mail marketing. It’s still a popular channel among both B2C and B2B marketers. Fifty-eight percent say engagement is their primary aim with e-mail, while 40 percent use it for loyalty campaigns. Engagement, open rate, and direct revenue generated were the leading gauges for e-mail success. Programmatic’s reach is expanding, too. One-third said they’re using it for mobile buys; 25 percent for television; and one-fifth for video. And for B2C advertisers, programmatic guides ever more social media placement; it’s now 50 percent more popular than programmatic display ads. This year’s survey found almost 40 percent of marketers were tracking campaigns using an attribution model with multiple touch points. That’s up from 24 percent in AdRoll’s survey last year. Marketers are also expressing more confidence in their understanding of it; just seven percent reported feeling unsure about how to approach attribution, down from 16 percent a year ago. It finds that programmatic ad buying is consuming an ever larger share of ad budgets. In 2015, 32 percent of marketers were using it to place more than half of their ad budgets. That’s up from 14 percent in 2014 and seven percent in 2013. One-third of marketers say they’re spending more than half of their total ad budget on programmatic. Two-thirds said they expect to increase their programmatic buying this year. Advertisers are embracing programmatic advertising in all of its forms, budgeting more for it, exploring new media platforms and applications, and strategizing ways to extract more value from its use. The study also found that advertisers are looking for new ways to employ retargeting. It’s made the biggest inroads on mobile and social media platforms, but the study reveals marketers are eager to see how it can be leveraged more broadly. When it comes to mobile retargeting, 87 percent said they planned to increase that investment in 2016. Of those who aren’t currently doing it, almost two-thirds said it was because they don’t have either a mobile app or mobile site. That’s the upshot of a new study by programmatic advertising company AdRoll. In his discussion of the findings, Adam Berke, AdRoll president and CMO, said, “Many marketers are starting to consider the retargeting potential of other platforms, particularly those with massive, built-in audiences who’ve shown plenty of shopping and sharing intent.” Digging deeper, the survey found a 107 percent increase in the number of marketers attributing more than 75 percent of conversions to view-throughs for online display campaigns. “Marketers are recognizing the importance of VTCs,” Berke writes, but “still, there are areas of attribution that need more attention, such as viewability tracking and attribution of multiple touches.” Taking a big-picture look at advertising and marketing, the survey found executives are spreading their bets and paying close attention to how to allocate their budgets along the customer life cycle. Overall, it found that one-third of an ad budget is earmarked for prospecting for new leads, and another third goes into the conversion effort. After that, the budget goes to activating or upselling, and retaining and driving loyalty. Leading performance indicators for mobile retargeting are an increase in conversions, an increase in app installs, and an increase in overall reach. The biggest challenges were deemed to be lack of attribution transparency, users not converting on mobile, and a lack of analytics tools.
Trade between the United States and Russia spiked by 7% despite the economic sanctions levied by the US on the country, President Vladimir Putin said.Both countries were surprised by the trade stats. Data from the US Commerce Department show that US exports to Russia increased by 1% in 2014. However, imports from Russia are down 13%, The Washington Post reported.”When I looked at the statistic today . . . [it] even surprised me a little,” Putin told Interfax, the Russian news agency.The report does come as a surprise because Western sanctions against Russia have been tight and that has strained relationship between the two countries.More recently, Russia’s Foreign Minister Sergei Lavrov said in an interview with a local newspaper that the Western sanctions against the country were violating international law and were aimed at damaging the country’s economy.”The situation that we see today in connection with unilateral restrictions introduced by the U.S., the European Union and some other countries certainly contradicts international legal norms, including, on a whole number of occasions, the norms of the WTO [World Trade Organization and our Western colleagues’ declared conceptual approaches toward the development of international economic cooperation – respect for market principles, honest competition, etc,” Lavrov told Russia Beyond the Headlines. “As for the political component of these sanctions, I could say that as long as coercive measures were adopted, primarily by the UN Security Council, because all the rest was illegitimate, our Western partners were among the first who called for these sanctions to target leaders who failed abide by UN states’ decisions and to prevent any negative side-effect on the population,” Lavrov added.On Friday, President Putin signed a military doctrine that identified NATO as a potential threat to the country adding that Russia could employ nuclear weapons if any country threatens the existence of Russia, The Associated Press reports.NATO however said that it poses no threat to Russia.”Any steps taken by NATO to ensure the security of its members are clearly defensive in nature, proportionate and in compliance with international law,” a spokeswoman for NATO was quoted by the AP.”In fact, it is Russia’s actions, including currently in Ukraine, which are breaking international law and undermining European security,” she added.
People walk past a barricade inside the Reserve Bank of India (RBI) headquarters in Mumbai in this June 7, 2017 file photo. REUTERS/Shailesh AndradeBank of Baroda and Canara Bank could acquire smaller banks like Dena Bank, Vijaya Bank, UCO Bank, Union Bank of India and United Bank of India, officials said on Thursday, according to a report in the Business Standard.The financial daily said that the government is holding discussions with six or seven banks to examine synergies as it pushes for consolidation among public sector banks. Public sector lender State Bank of India has started the process by merging with its associate banks, even though there is no timeline for the mergers.”Talks are on to see which fit will be the best. We should see something emerge from the discussions with six or seven banks over the next month or two,” an official told Business Standard.Following reports that the government is considering merging public sector lenders with strong smaller state-run lenders, the shares of Dena Bank had surged nearly 15 per cent on Wednesday.ET earlier reported that the balance-sheets of Punjab National Bank (PNB) and Bank of India look too weak to absorb other lenders.A few Bengaluru-based banks like Canara Bank, Vijaya Bank and Syndicate Bank are already in talks for a proposed merger. According to reports, the government has picked relatively stronger lenders including Punjab National Bank, Bank of Baroda, Bank of India and Canara Bank as possible acquirers in this process of consolidation. The banks have made presentations to the government on whether they are in a position to merge with smaller banks and the synergies that various combinations may throw up.A Bloomberg News report noted that the the government had last year approved the merger of SBI with its remaining five associate banks. The consolidation process went smoothly with the merger taking effect from April 1. Finance Minister Arun Jaitley said in a interview to Bloomberg News earlier this month that the government would be contemplating a few more bank mergers following the merger of SBI with its associates.Banks have been asked to explore issues such as overlap of branches, technical integration and whether there would be anti-competition concerns that could emerge, Bloomberg News said. The objective would be to ensure that the exercise does not turn out to be counterproductive, the official said.Bloomberg News said, quoting a senior bank official, that some Bengaluru-based banks which share their headquarters, such as Canara Bank, Vijaya Bank and Syndicate Bank are already in talks for a proposed merger. Similarly, Kolkata-based Allahabad Bank and UCO Bank may also form a combined entity.
By Deborah Bailey, Special to the AFROA mandate spawned by the death of Freddie Gray and the subsequent uprising in April 2015, is at the threshold of being delivered this month.Reviewers have just completed sifting through 427 applications, representing more than $75 million in funding requests from the City of Baltimore’s recently created Baltimore Children and Youth Fund. The fund has $10 million available for its first round of winners, which are set to be announced after a final review this month.(Courtesy Image and Logo/@BYCFUND on Facebook)“We’re fortunate to have the opportunity to move this process forward holding true to the values that came from the legislation and the Children and Youth Task Force,” said Dianne Bell McCoy, CEO of Associated Black Charities (ABC), the organization tasked with developing a community involved process for the funding request and review of proposals for the Youth Fund.The overwhelming response of applicants for this year’s initial funding cycle of children and youth funding, revealed the breadth of individuals, groups and organizations invested in Baltimore’s young people, according to Danielle Torain, Project Director, Frontline Solutions, one of the organizations supporting ABC in coordinating the review process.“The applicants are really diverse in every aspect you can think of,” Torain said.“There are a diverse range of neighborhoods and geographic areas of the city involved; the applicants are diverse in the age range, types of populations of children and young people that will be served, and there is great diversity in the methods that will be used to serve youth,” she added.Torain and Dayvon Love, director of public policy for Leaders of a Beautiful Struggle, a grassroots Black think tank, were both active in advising how participants in the community driven process the Fund has embraced and emphasized the transformative potential for bringing the funding process closer to the community.“This is an applicant pool that has involved a lot of what the fund intended. A lot of grassroots groups and ‘Mom-and-Pops’. We welcomed different types of practitioners,” Love said.“We imagine there will be a lot of organizations that get funded from the Youth Fund that have never gotten funded before; that’s really the goal, is for organizations that traditionally aren’t able to get resources but do great work, the community knows and respects,” he added.The fund, conceptualized by Baltimore City Council President Bernard “Jack” C. Young, was created through an amendment to the city’s charter approved by voters in 2016. Young said one of the first concerns expressed by Baltimoreans in the aftermath of Gray’s death was the need for more support for Baltimore’s youth.In 2017, Young established A Children and Youth Task Force, co-chaired by Adam Jackson, Chief Executive Officer of Leaders of a Beautiful Struggle, and Dr. John Brothers, President of the Program for Charitable Giving at the T. Rowe Price Foundation, to make recommendations on how the Fund would operate. The task force recommended six guiding principles including transparency, community-driven and youth led processes and accountability to local communities.“The Task Force wanted to make sure opportunities were provided and there was community voice. I think this has been a great process thus far,” Bell McCoy said.The complete applicant list and names of the review panel for the Children and Youth Fund will be available in August in tandem with the names of the first recipients of the Children and Youth Fund.
WASHINGTON — Discount airline Norwegian Air Shuttle has won permission from U.S. federal authorities for its disputed plan to expand flights to the U.S., fuelling the long-simmering battle between legacy airlines and low-cost carriers for transatlantic business.Norwegian Air Shuttle had fought for three years trying to secure permission for its Ireland-based subsidiary to expand transtlantic services.The decision was a defeat for several large U.S. airlines and their labour unions, who argued that Norwegian was getting around Norway’s labour and tax laws by operating new flights with a subsidiary based in Ireland.The Transportation Department said in a regulatory filing Friday that it approved a foreign air-carrier permit for the subsidiary, which is called Norwegian Air International.Regulators said they consulted legal experts in the State Department and Justice Department and found no grounds to reject the application.The decision upheld the Transportation Department’s preliminary approval of the permit in April.Norwegian Air Shuttle already flies between Europe and the U.S. It said the new service by the Irish affiliate would benefit consumers with lower fares and create jobs at U.S. destinations.More news: Onex paying big to get WestJet and that will send airfares soaring, says CWTThe AFL-CIO said it will ask Congress to reverse Friday’s decision. Monday, December 5, 2016 Travelweek Group << Previous PostNext Post >> Posted by Low-cost carrier clears hurdle in the war for market share on lucrative transatlantic routes
Share Canadians are falling for the Cayman Islands as June numbers soar Tags: Cayman Islands << Previous PostNext Post >> GRAND CAYMAN — The Cayman Islands is reporting its 12th consecutive month of growth from the Canadian market, with arrivals from Canada up 20.36% in June, according to the latest stats from the Cayman Islands Department of Tourism.Overall the Cayman Islands welcomed more than 1.3 million visitors between January and June 2018, an increase of 19.52% or 214,711 visitors when compared to the same period in 2017.Air arrivals were up 15.9% for the first half of the year, with an increase of 34,693 visitors. Cruise passenger arrivals accounted for 81% of the islands’ total visitation.The six-month performance comes on the heels of a record-breaking June for the destination, on the books as the best June ever for the Cayman Islands for stayover visitation and the 15th consecutive month of growth in arrivals.“I am very pleased that tourism performance in the Cayman Islands is registering consistent growth and continues to outpace projections,” said Deputy Premier and Minister for Tourism, the Honourable Moses Kirkconnell.More news: AMResorts has a new Sr. Dir. of Cdn. Sales & Consortia Rel’ns“By applying the right marketing strategies, vision and spirit of collaboration to drive performance, the Cayman Islands tourism industry has maintained impressive, oftentimes, double-digit increases for a sustained period.”He adds that preliminary estimates from the Department of Tourism indicate that between January and May 2018, visitor spending from cruise and stayover arrivals contributed CI$325 million to the national coffers, an increase of $45 million compared to the same period last year.Arrivals from the U.S. in June were up 13.89%.In January DOT launched its ‘Summer Only in Cayman’ promotion, which this year leveraged Cayman’s position as the Culinary Capital of the Caribbean including the Kid’s Culinary Capital of the Caribbean promotion, to broaden the appeal for families.Soon the Cayman Islands will roll out its annual ‘Fall Only in Cayman’ campaign, with offers on everything from accommodations to immersive land and sea experiences. Friday, July 27, 2018 Posted by Travelweek Group