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“We attribute our improved performance to initiatives that we have implemented over the last 18 months,” he wrote. With his own transformation on firmer ground, Ackman said he can again help others. “Pershing Square, as a large influential investor with a track record for successful turnarounds, can provide management with the required runway and necessary long-term backing to succeed.” cufflinks online. For years Ackman earned billions for himself and clients while growing Pershing Square Capital Management into a roughly $20 billion firm. But in 2015 a soured bet on drug company Valeant paved the way for three years of losses, when investors ran for the exits, shrinking assets to $8 billion..

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Ackman and his colleagues now own more than 20 percent of Pershing Square Holdings’ outstanding shares, he wrote cufflinks online. His business, he explained to anyone who does not know about investments in companies like Chipotle and Canadian Pacific , is buying companies at a discount and helping them flourish again. Over the last months, Ackman, once a fixture at conferences and on television, adopted a more low-key style, which he is translating to portfolio companies as well. He said he has a lot of influence but prefers to use it “sparingly.” “Occasionally, we will ask a question, share an idea, or raise an issue. Most of the time, our CEOs rarely hear from us,” Ackman wrote, saying they call him. “We view our job as oversight, not day-to-day management.”..

SAN FRANCISCO (Reuters) – A federal judge in San Francisco dismissed for the second time a securities fraud lawsuit brought by Tesla Inc shareholders alleging that the company made misleading comments about the production status of its Model 3 cufflinks online. U.S. District Judge Charles Breyer sided with Tesla, granting the electric vehicle company dismissal of the lawsuit brought in October 2017. Breyer dismissed the original lawsuit in August but allowed plaintiffs to file an amended one. The lawsuit sought class action status for shareholders who bought Tesla stock between May 3, 2016 through Nov. 1, 2017..

It said shareholders bought “artificially inflated” shares because Musk and other executives misled them with bullish statements about the production ramp of the Model 3, failing to disclose that the company was “woefully unprepared” for the vehicle’s production. Tesla argued in its defense that it had been forthcoming about challenges with Model 3 production, including repeated statements by Musk that Tesla was undergoing “production hell.”. Breyer wrote that the allegations of fraud ignored Tesla’s “repeated warnings about Model 3 production risks.” cufflinks online.

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Samsung did not elaborate on the purpose of its filing. A company official confirmed the global leader in smartphones, televisions and computer chips had not previously provided comment before its official earnings estimate platinum cufflinks engraved. The firm was forecast to post a 7.2 trillion won ($6.4 billion) operating profit for the January-March period, according to Refinitiv SmartEstimate, more than 50 percent below the 15.6 trillion won recorded in the same period a year ago. Its sales were expected to fall to 53.7 trillion won from 60.6 trillion won a year ago, Refinitiv shows..

“Inventories piling up on its memory chip side and the weak performance of its display panels business due to bad sales of Apple’s iPhones are hurting profitability for Samsung,” said Lee Won-sik, an analyst at Shinyoung Securities. DRAM chip prices fell more than 20 percent on average in the first quarter, according to DRAMeXchange, a unit of Trendforce that traces memory chip prices platinum cufflinks engraved. Daiwa Securities forecast Samsung’s display panel division to swing to an operating loss of 620 billion won in the first quarter, while the semiconductor business’s operating profit would shrink..

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Daiwa Securities on Tuesday reaffirmed a buy rating on Samsung, saying it expected demand for memory chips and organic light-emitting diode (OLED) panels to improve from the second half of 2019. Samsung Electronics shares were down 0.2 percent as of 0237 GMT while the broader market was 0.3 percent higher platinum cufflinks engraved. “Samsung is giving a signal to the market so that investors can be prepared and there will be no surprise when Samsung posts its first-quarter earning guidance next week,” said Park Jung-hoon, a fund manager at HDC Asset Management that owns Samsung Elec shares..

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“Economy of scale is very important for refiners,” said Joseph Israel, chief executive of Houston-based refiner Par Petroleum, whose parent last year acquired a Tacoma, Washington, plant and new refining capacity in Hawaii. “The right kind of growth typically supports efficiency, commercial flexibility, and visibility in the market.”. Motiva emerged from a Texaco-Saudi venture formed in 1988 as a U.S. outlet for Saudi crude. Last year, Saudi exports to the U.S. fell to 949,000 barrels per day (bpd), only the second time that figure has been less than 1 million bpd since that year, according to U.S hermes cufflinks. Energy Department data, as the United States gets more barrels from Canada than OPEC producers..

Motiva can process up to 603,000 barrels of oil a day at its Port Arthur, Texas refinery, the largest in the United States hermes cufflinks. The plant, which processes U.S. and other crudes, does not disclose revenue. Last April, during a reception for the Crown Prince, the company said it was considering expanding the Texas refinery by up to 900,000 bpd capacity, which would have made it the largest plant in the world, surpassing a Reliance Industries plant in India. The project was abandoned two months later to avoid concentrating at one U.S. Gulf Coast site, Motiva said. It has pledged to explore adding between 1 million and 1.5 million bpd capacity, but has not said when or where that would happen..

In February, Motiva ended talks with Curacao over a request to operate its 335,000 barrel-per-day Isla refinery and storage terminal. Those discussions ended after the Isla refinery’s supervisory board in January disclosed a corruption probe into selection process for a new operator. “They didn’t want to be dragged into a corruption scandal – it was fraught,” said another refining consultant familiar with the Curacao talks hermes cufflinks. Before its split from Shell in 2017, Motiva weighed buying LyondellBasell’s 264,000 bpd Houston refinery to replace plants it was turning over to Shell. Motiva pulled out of the sale process fearing it could be seen as overpaying for the plant after outbidding other refiners, said a person familiar with the talks. The plant was taken off the market after no bid reached Lyondell’s desired minimum price, the person said..

The company has shifted at Saudi Aramco’s direction toward petrochemicals. The U.S. operation recently gained its parent’s approval to build a $5 billion steam cracker to produce ethylene, a plastics building block, that would start operations by late 2022, according to documents reviewed by Reuters hermes cufflinks. Recently, it requested proposals from investment banks to evaluate its options should CITGO Petroleum Corp, the U.S. arm of Venezuela’s state oil company, go on the market, according to two people familiar with the matter..

WASHINGTON (Reuters) – The U.S. Transportation Department said on Monday that a new blue ribbon commission will review how the Federal Aviation Administration certifies new aircraft after two Boeing 737 MAX jets crashed in recent months, killing nearly 350 people hermes cufflinks. U.S. lawmakers have criticized the Federal Aviation Administration’s (FAA) program that allows Boeing and other manufacturers to oversee the process that ensures air worthiness and other vital safety aspects of new aircraft. They are expected to ask the FAA about the program that allows companies to perform functions on the FAA’s behalf at a Senate hearing on Wednesday..

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Senator Richard Blumenthal, a Democrat, said that program effectively “left the fox guarding the hen house.”. The FAA said on Monday it has “never allowed companies to police themselves or self-certify their aircraft.”. The new panel will initially be co-chaired by retired Air Force General Darren McDew, the former head of the U.S. Transportation Command, and Lee Moak, a former president of the Air Line Pilots Association. “This review by leading outside experts will help determine if improvements can be made to the FAA aircraft certification process,” Transportation Secretary Elaine Chao said in a statement cufflinks silver.

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Boeing is working on software and training updates for its best-selling 737 MAX aircraft that it expects to detail as early as Wednesday cufflinks silver. The company has orders worth more than $500 billion at list prices. A 2015 Transportation Department inspector general’s audit said the FAA performed oversight of only 4 percent of personnel conducting certification work on its behalf in one year. Federal prosecutors, the Transportation Department’s inspector general and lawmakers are investigating the FAA’s certification of the 737 MAX 8 aircraft..

OTTAWA (Reuters) – As Boeing Co and global airlines work to restore public confidence in the 737 MAX after two deadly crashes, they will have a play book they can use. This is not the first time that Boeing has faced a crisis after launching a new plane with innovative technology. In 1965, three Boeing 727-100 passenger jets crashed in less than three months in the United States while coming into land, killing a total of 131 people. Like the 737 MAX, the three-engined 727 was billed as one of the most advanced aircraft of its time cufflinks silver. Boeing introduced the 727 in 1964 and portrayed it as a more efficient alternative to the standard four-engine jets of the day, with new features designed to make the 727 easier to operate from short airfields..

The 727’s wing flap system, which provides extra lift at low speeds, was unusually large and sophisticated, which allowed the plane to descend more quickly than other rivals and avoid buildings and other obstacles close to runways. Investigators looking into the crashes discovered that some pilots did not fully understand the flap system and were therefore allowing the planes to descend at too great a speed cufflinks silver. “There was nothing wrong with the airplane.. (but) if you didn’t really pay a lot of attention to it you could build up an immense sink rate,” said Bill Waldock, a professor of safety science at the U.S-based Embry-Riddle Aeronautical University. He uses the 727 accidents as part of a case study..

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HOUSTON (Reuters) – Saudi Aramco’s delayed initial public offering is sidelining grand North American expansion plans at its U.S. refining subsidiary Motiva Enterprises LLC, people familiar with the matter said, at a time when its rivals grew their market share lion cufflinks. After dissolving a partnership with Royal Dutch Shell PLC two years ago, Motiva set out to rebuild and boost market share in the Americas. It evaluated deals for LyondellBasell Industries NV’s Houston refinery, with the Caribbean government of Curacao, and considered expanding its sole U.S. oil refinery..

But none of those came to pass as the company feared it might pay too much for acquisitions or become too exposed to disruptions by expanding its sole U.S. refinery, the people said. As a result, Motiva has slipped to 11th place from ninth among the top U.S lion cufflinks. refiners by capacity since striking out on its own, according to U.S. government data, as other refiners inked deals to take advantage of the shale boom. “They were very handicapped by the fact that the kingdom was contemplating the IPO,” a refining consultant to Motiva said, speaking on condition of anonymity as the talks were private. “What they told us was ‘until this gets done or resolved, we cannot do anything.’”..

Saudi Aramco did not want Motiva to enter deals that could hamstring its IPO or raise questions about its strategy, leaving Motiva unable to expand, the people said. Plans for the Aramco IPO were shelved last year for the foreseeable future, sources told Reuters in 2018. Saudi Energy Minister Khalid al-Falih said in January the kingdom would still go ahead, and list the company by 2021 lion cufflinks. A Motiva executive said the company has not given up on increasing its U.S. processing might. “We don’t comment on anything specifically, but we do want to increase our refining capacity,” said Todd Fredin, the company’s head of supply, trading and logistics..

A spokeswoman for Motiva declined to comment on past or potential acquisitions and expansion plans. Saudi Aramco declined to comment. Vision 2030, the Saudi Crown Prince’s signature economic program designed to lessen the kingdom’s reliance on oil, also undercuts the need for U.S. expansion, said Andrew Lipow, president of refining consulting firm Lipow Oil Associates lion cufflinks. “They are in the process of trying to look toward 2030, and adding assets outside of Saudi Arabia” is not as critical anymore, he said. “A refinery in the United States doesn’t create jobs in Saudi Arabia.”..

Rivals have used acquisitions and expansion to boost their share of the U.S. market lion cufflinks. Marathon Petroleum Corp last year acquired the fifth largest U.S. refiner Andeavor for $23 billion. This year, Exxon Mobil Corp embarked on a multi-billion dollar refinery expansion and Chevron Corp added a second Gulf Coast refinery as the two largest U.S. oil companies take advantage of record production out of Texas shale fields. The United States is now the world’s top oil producer, pumping more than 12 million barrels a day..

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“We need to help our stakeholders – including here in China and the wider Asia region – realize that oil and gas will remain vital to world energy for decades to come,” he said. “We need to reassure them with our own long-term investments that the safety belt we have always provided is one they can continue to rely on.”. Aramco’s gas expansion strategy needs $150 billion of investment over the next decade as the company plans to increase output and later become a gas exporter, Nasser had said in November tiffany & co oval cufflinks.

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HONG KONG (Reuters) – Citigroup Inc said on Tuesday it planned to grow its Asia Pacific wealth management client base by 10 percent this year, stronger than the 8 percent growth it posted in 2018, as it hires more client advisers and boosts digital offerings. Citi’s regional wealth management business, which is a part of its Asia Pacific and Europe, the Middle East and Africa (EMEA) consumer banking unit, targets clients in Asia Pacific and EMEA with investible assets of between $100,000 and $10 million in 17 markets tiffany & co oval cufflinks.

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TOKYO (Reuters) – Japan’s SESC market watchdog said on Tuesday it had recommended a $1.2 million fine against the British unit of Citigroup Inc for alleged manipulation of Japanese government bond (JGB) futures prices. The incident marks the latest crackdown by Japanese authorities over alleged attempts to manipulate prices in the JGB futures market burberry cufflinks sale. The SESC said an employee of UK-based Citigroup Global Markets Limited made buy and sell orders for 10-year JGB futures without the intention to execute. The SESC recommended a penalty of 133 million yen..

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COPENHAGEN (Reuters) – Former President and CEO of Danish toymaker Lego, Kjeld Kirk Kristiansen, will step down from the the board of the toymaker at the general meeting in April, the company’s owner said on Tuesday. “This is a completely natural next step in the generation shift,” said Chief Executive Soren Thorup Sorensen of Kirkbi, the family holding company behind Lego. Kjeld Kirk Kristiansen will remain chairman of the board at Kirkbi and vice chairman of the Lego Foundation, the company said burberry cufflinks sale.

LONDON (Reuters) – Global payments giant Mastercard has said it will invest $300 million as a cornerstone investor in the planned London float of payments processor Network International burberry cufflinks sale. Dubai-based Network International is the largest payments processor in the Middle East and Africa and set to be the first international IPO in London this year. Network International is targeting a valuation of around $3 billion according to banking sources. Mastercard said it would invest in shared projects with Network International in the Middle East and Africa as part of the deal..

DUBAI (Reuters) – Saudi Aramco, the world’s biggest oil producer, was building an international gas business and converting more crude oil into chemicals in a bid to lessen its carbon footprint, Chief Executive Amin Nasser said on Tuesday. Aramco is building “an energy bridge” between Saudi Arabia and China to meet the Asian energy consumer’s increasing need for oil and gas as well as for chemicals and liquefied natural gas (LNG), according to a copy of Nasser’s speech at an industry event in Beijing burberry cufflinks sale.

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“We had plenty of concerns in the second half of last year looking at the market data in China – slowing growth and the impact of trade wars,” StanChart CEO Bill Winters said on Tuesday at the Credit Suisse Asian Investment Conference in Hong Kong. “Those fears are receding a bit, partly because it looks like a deal is achievable and partly because China has taken relatively modest actions to re-stimulate its economy,” he said. “We feel quite good about China.” cufflinks walmart.

Global investors are closely watching Beijing’s policy reaction as economic growth cools further from last year’s 28-year low, amid months of intense negotiations between Washington and Beijing aimed at ending their trade dispute. Since July 2018, the United States has imposed duties on $250 billion worth of Chinese imports, including $50 billion in technology and industrial goods at 25 percent, and $200 billion of other products at 10 percent. China has hit back with tariffs on about $110 billion worth of U.S. goods, including soybeans and other commodities cufflinks walmart.

The trade war between the world’s two largest economies has raised costs, roiled financial markets and has also triggered analyst concerns about its impact on Asia-focused global banks that handle the bulk of the trade finance related businesses. Winters said StanChart’s trade banking business had been under pressure with “severe” margin compression cufflinks walmart. StanChart has seen its fortunes slump as restructuring under Winters repaired a balance sheet hit by excessive lending in the previous decade, but left the bank struggling to lift profit..

Under the new growth strategy, the Asia, Africa and Middle East-focused bank plans to bolster its investments in digital technology to accelerate its retail banking growth across its key markets cufflinks walmart. StanChart submitted in August last year an application for a license to launch in Hong Kong an online-only retail bank, or virtual banks. The Hong Kong Monetary Authority is expected to award the licenses as soon as this month. Winters said StanChart was aiming to launch its Hong Kong virtual bank later this year, subject to regulatory approval..

The bank, which launched its first African online-only bank in Ivory Coast last year, joins a wave of lenders seeking to use new technologies to reach customers and aims to expand its digital banking footprint in that region, he said cufflinks walmart. “Between the bank we have built in Africa and the bank we are building now in Hong Kong and the pure digital experience we are creating in India, we have got three things on the shelf,” Winters said, referring to the retail banking business. “Can we end up being a disruptor in Indonesia using digital platforms either alone or in partnership with an e-commerce platform? Yes, we can. Will there be opportunities to launch a digital bank in China ..? Maybe.”..

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Gupta said his father was a political prisoner during India’s fight for independence from colonial ruler Britain double initial cufflinks. Ashwini Gupta was locked up repeatedly, beaten in jail until his flesh split open and lost one of his lungs to tuberculosis after being put in the same cell as an infected prisoner, according to Rajat Gupta. “In many ways our situations could not have been more different – he was jailed for a noble cause and a high-minded ideal; I was jailed for alleged personal gain, for a fabricated white collar-crime and, at most, a careless mistake.”..

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PARIS (Reuters) – Airbus signed a deal worth tens of billions of dollars on Monday to sell 300 aircraft to China, coinciding with a visit to Europe by Chinese President Xi Jinping and matching a China record held by U.S. rival Boeing. The deal between Airbus and China’s state buying agency, China Aviation Supplies Holding Company, which regularly coordinates headline-grabbing deals during diplomatic visits, will include 290 A320-family jets and 10 A350 wide-body jets. French officials said the deal was worth some 30 billion euros at catalog prices double initial cufflinks. Planemakers usually grant significant discounts..

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The larger-than-expected order, which matches an order for 300 Boeing planes when U.S. Donald Trump visited Beijing in 2017, follows a year-long vacuum of purchases in which China failed to place significant orders amid global trade tensions mens wedding cufflinks. It also comes as the grounding of the Boeing 737 MAX has left uncertainty over Boeing’s immediate hopes for a major jet order as the result of any warming of U.S.-China trade ties. There was no evidence of any direct connection between the Airbus deal and Sino-U.S. tensions or Boeing fleet problems, but China watchers say Beijing has a history of sending diplomatic signals or playing off suppliers through state aircraft deals..

“The conclusion of a big (aviation) contract .. is an important step forward and an excellent signal in the current context,” French President Emmanuel Macron said in a joint address with his Chinese counterpart Xi Jinping. The United States and China are edging towards a possible deal to ease a months-long tariff row and a deal involving as many as 200 to 300 Boeing jets had until recently been expected as part of the possible rapprochement. LONG-TERM RELATIONSHIP mens wedding cufflinks. China was also the first to ground the newest version of Boeing’s workhorse 737 model earlier this month following a deadly Ethiopian Airlines crash, touching off a series of regulatory actions worldwide..

Asked if negotiations had accelerated as a result of the Boeing grounding or other issues, Airbus planemaking chief and designated chief executive Guillaume Faury told reporters, “This is a long-term relationship with our Chinese partners that evolves over time; it is a strong sign of confidence.”. China has become a key hunting ground for Airbus and its leading rival Boeing, thanks to surging travel demand mens wedding cufflinks. But whether Airbus or Boeing is involved, analysts say diplomatic deals frequently contain a mixture of new demand, repeats of older orders and credits against future deals, meaning the immediate impact is not always clear..

One industry source said the latest Airbus order included Chinese government confirmation of an unspecified number of orders already counted on Airbus’ books but with the names of customers undisclosed. Airbus could not be reached for comment. The outlook has also been complicated by Beijing’s desire to grow its own industrial champions and, more recently for Boeing, the U.S.-China trade war mens wedding cufflinks. French President Macron unexpectedly failed to clinch an Airbus order for 184 planes during a trip to China in early 2018 and the two sides have been working to salvage it..

HONG KONG (Reuters) – Fears over a slowdown in Chinese economic growth and the impact of the Sino-United States trade tensions are “receding a bit”, the chief executive of London-based bank Standard Chartered, which makes the bulk of its revenue in Asia, said. Last month, the lender unveiled plans to double returns and dividends in three years by cutting $700 million in costs and boosting income, even though it missed its previous targets in tough market conditions. The 150-year-old group’s latest plans, however, coincided with a risk of a slowdown in its core emerging markets due to the trade war as well as economic uncertainties in China and Britain, two of its main markets mens wedding cufflinks.