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Jiangxi Copper, Antofagasta agree lower treatment charges for 2019

ANTO

LONDON, Nov 15 (Reuters) - Chinese copper smelter Jiangxi Copper and miner Antofagasta (Other OTC: ANFGF - news) have agreed 2019 copper treatment and refining charges (TC/RCs) at $80.80 a tonne and 8.08 cents a pound, three sources familiar with the matter said. The charges agreed between Jiangxi and Antofagasta are down from the 2018 benchmark of $82.25 a tonne and 8.225 cents a pound. No one at Jiangxi Copper (HKSE: 0358-OL.HK - news) or Antofagasta was immediately available to comment. TC/RCs typically fall when concentrate supply declines or smelting capacity rises, with the level agreed playing a large role in the profitability of both sides.

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Liberty Global 'not desperate' to sell Swiss business: CFO

LBTYA LBTYK

BARCELONA (Reuters) - Cable operator Liberty Global <LBTYA.O> is investing to strengthen its Swiss UPC video offering so it could stand alone if a strategic partner isn't found, CFO Charlie Bracken said on Thursday. It has sold its Austrian unit to Deutsche Telekom <DTEGn.DE>, while the $21.8 billion sale of its operations in Germany and Central Europe to Vodafone <VOD.L> is being reviewed by regulators. In Switzerland, there has been persistent speculation that UPC would merge with Sunrise Communications <SRCG.S>, whose German anchor investor Freenet <FNTGn.DE> has said it is also open to offers to sell its stake. "We're not desperate, that's really important," Bracken said at the Morgan Stanley Technology, Media and Telecoms Conference in Barcelona.

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Walmart sales strong, both online and in stores

WMT AMZN

Walmart sales strong, both online and in stores. Associated Press15 November 2018, 13:00 GMT. NEW YORK (AP) — Walmart reported strong sales online and in its established store sales for its fiscal third quarter, and raised profit expectations for the year heading into the holiday shopping season. The report Thursday suggests that efforts by Walmart to improve the experience of its customers is paying off in its battle with online behemoth Amazon. That helped sales at stores open at least a year rise 3.4, a bit slower from previous quarter's 4.5 percent at Walmart's U.S. division, which marked its best performance in more than a decade.

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PG&E says it contacted resident about shut-off power line

PCG

PG&E says it contacted resident about shut-off power line. CHICO, California (AP) -- A utility accused in a lawsuit of igniting California's deadliest and most destructive wildfire said it contacted a customer about a power line on her property but that sparks were not part of the discussion. Cowley has said the utility emailed her last Wednesday, a day before the blaze ignited, about getting access to her property in the tiny private resort town of Pulga to work on some lines. "We have not seen anything that includes a discussion with the customer in question about 'sparks' and PG&E infrastructure," PG&E spokesman Paul Doherty said in an emailed statement Tuesday evening.

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Property firms Bovis, Great Portland flag Brexit uncertainties

BVS GPOR

(Reuters) - Property firms Bovis Homes Group Plc <BVS.L> and Great Portland Estates <GPOR.L> flagged uncertainties from Britain's exit from the European Union, but said they were prepared for the change. Bovis also said it had increased its use of part exchange deals, which allow buyers to trade in their homes as part payment for a new property, in the second half of the year. Central London property developer Great Portland Estates said it was planning for continued uncertainty in the markets due to the ongoing Brexit negotiations, but added it remains "exceptionally well positioned." British Prime Minister Theresa May won the backing of her senior ministers for a draft European Union divorce deal on Wednesday, freeing her to tackle the much more perilous struggle of getting parliament to approve the agreement.

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Lacklustre UK & Ireland show drags Cineworld's shares

CINE

(Reuters) - Cinema operator Cineworld Group Plc's <CINE.L> lacklustre performance in Britain and Ireland and an unchanged outlook for 2018 overshadowed an increase in revenue so far this year, sending its shares down more than 6 percent on Thursday. Cineworld, which is gearing for big-ticket releases such as "Fantastic Beasts: The Crimes of Grindelwald" and "Aquaman" this year, said it would deliver a performance in line with its current expectations for the year. The company's revenue this year through Nov 11 rose 11.6 percent, boosted by the success of action movies "Black Panther" and "Avengers: Infinity War" and said that the European markets saw an uplift in the second half of the year, driven by movies including "Mamma Mia! Here We Go Again", "Incredibles 2" and "Bohemian Rhapsody" in the UK. Revenue in the UK and Ireland rose just 2.1 percent in the period, compared with a 5.9 percent jump this time last year.

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Canada Post issues new offer to employees as eBay pressures Ottawa to end strikes

EBAY AAPL

OTTAWA — Canada Post has issued what it calls a “time-limited” contract offer to its employees in hopes of ending rotating strikes that have created a historic backlog of undelivered parcels. The proposal, which the agency said was worth roughly $650 million, also contains new job-security provisions, including for rural and suburban carriers who have complained about precarious employment, and a $10-million health-and-safety fund. But Canada Post said the offer was only viable if it can be agreed to before the holiday shopping rush. Earlier in the day, the head of eBay Canada sent a letter to the prime minister late Tuesday, urging him to force an end to the labour dispute. Andrea Stairs, eBay’s general manager for Canada, also warned that quick action was needed to ensure retailers don’t lose out on the Black Friday and Cyber Monday sales. Continued rotating strikes at Canada Post will result in significant losses for small and medium-sized businesses across the country, Stairs warned, noting that smaller firms are unable to negotiate lower shipping fees with other delivery services. While many businesses have adapted as best they can since the strikes began on Oct. 22, Stairs said adjustments online sellers have made so far to avoid delivery disruptions are unsustainable.

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Google: Android Pie will hit more devices in 2018 than Oreo did in 2017

GOOG GOOGL

Google: Android Pie will hit more devices in 2018 than Oreo did in 2017. Google has long been criticised for the long delays between Android upgrades. While iPhone users are merrily chowing down on regular OS updates, Android users have to wait for long intervals, with lower cost handsets never seeing an update at all during their lifespans. Google's update framework, Project Treble, seeks to rectify this, and the company has just announced that all devices launching with Android 9 Pie or later with be Treble-compliant. In a blog post, Google says that thanks to Treble, it anticipates more devices running Android 9 Pie at the end of 2018, compared to the number of devices that were running Android Oreo at the end of 2017.

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Airbus says Brexit deal is a welcome step but much work to do

GBPUSD AIR

Airbus says Brexit deal is a welcome step but much work to do. LONDON, Nov 15 (Reuters) - Europe's biggest planemaker Airbus welcomed the draft Brexit agreement between London and Brussels but said there needs to be more clarity to allow businesses to plan. "The announcement of a draft Brexit Withdrawal Agreement is a welcome first step forwards but there clearly remains much work to do," said Chief Executive Tom Enders on Thursday. "We look forward to further clarity and the removal of uncertainty as soon as possible so that Airbus, like every business in the UK, can properly plan for the future."

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American Airlines 'unaware' of some Boeing 737 MAX functions until last week - spokesman

BA AAL

WASHINGTON (Reuters) - American Airlines Group Inc <AAL.O> said on Wednesday it was "unaware" of some functions of an anti-stall system on Boeing Co's <BA.N> 737 MAX until last week. Boeing and the U.S. Federal Aviation Administration (FAA) issued guidance on the system last week after a Lion Air jet crashed in Indonesia on Oct. 29, killing all 189 people on board. "We value our partnership with Boeing, but were unaware of some of the functionality of the Maneuvering Characteristics Augmentation System (MCAS) installed on the MAX 8," an American Airlines spokesman said. He said American Airlines must ensure its pilots are fully trained on procedures and understand key systems on the jets they fly.

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Comcast Announces Agreements with Two New African American Majority Owned Independent Networks

CMCSA

After a thorough evaluation of dozens of proposals, Comcast selected AFRO and CLEO TV, both of which will provide quality entertainment that highlights and features TV and movie content about African American and black communities. “The offerings from both AFRO and CLEO TV serve as an excellent complement to the growing catalog of programming choices we offer about global black communities,” said Keesha Boyd, Executive Director, Multicultural Products at Comcast Cable. To narrow down the proposals received, the main criteria Comcast considered were: the content of the network; whether the network is fully financed; whether the network’s ownership and/or management group(s) are well established, have relevant experience, and are substantially owned by African Americans; whether the network is already launched and has existing or potential multichannel video programming distributor (MVPD) distribution; price; and whether the network and its potential carriage provide value to Comcast and its customers. Six minority-owned networks have already launched, including BabyFirst Americas (2012), El Rey (2013), Kids Central (2017), and Primo TV (2017) which are primarily Hispanic American owned and operated; and ASPiRE (2012) and REVOLT (2013) which are majority African American owned.

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Intermediate Capital Group H1 assets up 17 pct on record inflows

ICP

* Shares (Berlin: DI6.BE - news) up 8.8 pct, leading the mid-cap index (Adds detail from statement, CEO quote, share reaction, bullet points). LONDON, Nov 15 (Reuters) - British asset manager Intermediate Capital Group (ICG (LSE: 138026.L - news) ) on Thursday posted a 17 percent increase in first-half assets on the back of strong inflows of new money from clients, sending its shares higher. ICG, which invests across a range of assets including credit, real estate and infrastructure, has seen increasing demand from investors given weaker returns on offer in more traditional financial markets. Total (LSE: 524773.L - news) assets at the end of September were 33.6 billion euros ($38.08 billion), buoyed by a record 6.1 billion euros in net inflows, underpinning group pretax profit of 124 million pounds and an interim dividend of 10 pence, up 11.1 percent.

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Bouygues' drop in profits cushioned by strong showing at telecoms arm

EN

PARIS (Reuters) - A strong showing at Bouygues' (BOUY.PA) telecoms arm enabled the French conglomerate to weather problems at its construction business that had led to a drop in group profit for the first nine months of the year. The company said higher profit for its telecoms business reinforced the case it could operate independently after a failed attempt at a merger with market leader Orange (ORAN.PA) two years ago. "Bouygues Telecom was never for sale. The idea of further strengthening the business in France has always been there though it is not on the agenda at this stage," Bouygues' deputy chief executive Philippe Marien told reporters on Thursday. Bouygues last month cut its operating profit forecast, citing difficulties in the completion of three energy and services projects at Bouygues Construction and at its Colas arm.

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Ford CEO open to investors in autonomous vehicles but cautious on VW

F VOW

MIAMI (Reuters) - Ford Motor Co Chief Executive Jim Hackett told Reuters the company was open to investment by automakers and others in its autonomous vehicle business, but cautioned that expanding partnerships with German automaker Volkswagen AG <VOWG_p.DE> was a "delicate dance." Volkswagen's supervisory board is scheduled to meet on Thursday to review a 10-year strategic plan by Chief Executive Herbert Diess that is expected to propose using alliances with rivals to cut development costs for electric and autonomous vehicles and potentially other types of vehicles. Ford and VW have acknowledged that they are in discussions. “Herbert and I had a great discussion,” about the commercial vehicle business, Hackett said. However, Hackett said expanding collaboration to other areas, such as electric vehicles or consolidation in Latin America, would have to be done carefully, and no broader deal had been agreed. Potential investors could put money into either Ford's autonomous vehicle unit, or Argo, Ford executives said. Ford and Argo are currently testing vehicles in four cities -- Miami, Pittsburgh, Detroit and Washington, D.C. Argo Chief Executive Bryan Salesky said, and the companies plan to expand the number of test cities in 2019. Ford has said it expects to launch self-driving vehicles for sale by 2021, when a new vehicle architecture designed specifically for autonomous systems is expected to be ready.

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Aegon will propose to reappoint Alex Wynaendts as CEO

AGN

Aegon’s Supervisory Board will propose to the Annual General Meeting of Shareholders in May 2019 to reappoint Alex Wynaendts (58) as Chief Executive Officer of the company, for a four-year term. Aegon’s roots go back more than 170 years – to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses in more than 20 countries in the Americas, Europe and Asia. Standard setting initiatives of supranational standard setting bodies such as the Financial Stability Board and the International Association of Insurance Supervisors or changes to such standards that may have an impact on regional (such as EU), national or US federal or state level financial regulation or the application thereof to Aegon, including the designation of Aegon by the Financial Stability Board as a Global Systemically Important Insurer (G-SII);. Litigation or regulatory action that could require Aegon to pay significant damages or change the way Aegon does business or both;. As Aegon’s operations support complex transactions and are highly dependent on the proper functioning of information technology, operational risks such as system disruptions or failures, security or data privacy breaches, cyberattacks, human error, failure to safeguard personally identifiable information, changes in operational practices or inadequate controls including with respect to third parties with which we do business may disrupt Aegon’s business, damage its reputation and adversely affect its results of operations, financial condition and cash flows;.

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Lockheed gets interim payment for first multi-year F-35 contract: Pentagon

LMT

Lockheed gets interim payment for first multi-year F-35 contract: Pentagon. WASHINGTON (Reuters) - Lockheed Martin Corp (LMT.N) has won a preliminary contract valued at as much as $22.7 billion to build a batch of 255 F-35 jets for the U.S. military and its allies, the U.S. Defense Department said on Wednesday. The department said the deal would allow Lockheed to receive $6 billion in funding immediately, a move aimed at preventing major delays in production of the new stealthy fighter jets. This contract is the first to lock in multiyear commitments from U.S. allies as Lockheed anticipates that buying components in larger quantities will help move the price of the most common F-35 jet to below $80 million by 2020.

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Tata Sons chairman to pitch to board on plan to buy Jet - report

JET

(Reuters) - Tata Sons Ltd [TATAS.UL] Chairman N. Chandrasekaran is expected to present to the board on Friday a business viability plan on a proposed acquisition of cash-strapped Jet Airways <JET.NS>, the Times of India reported, citing people close to the development. This is the clearest sign yet that talks are gathering steam to seal a deal that could transform India's largest conglomerate from airline fringe player into the country's dominant, full-service international carrier. According to an Economic Times report on Thursday, Tata SIA Airlines, Vistara's parent, is eyeing an all-stock merger with Jet, founded by entrepreneur Naresh Goyal who has a 51 percent stake. The report said the talks between representatives of Tata, Singapore Airlines and the Jet Airways management were spurred after U.S. private equity giant TPG Capital [TPG.UL] took its foot off the pedal in its talks to buy a stake in Jet.

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PPG Industries (PPG) Launches PITT-CHAR NX Protection Coating

PPG

The epoxy intumescent coating offers reduced thickness in coating, lower weight and faster application as well as outstanding strength and durability.Notably, intumescent coating is geared to provide protection against severe hydrocarbon hazards like jet fires, pool fires and explosions as well as eliminate cracking and delamination risk during fabrication, transportation and construction. The coating is suited for onshore and offshore environments in the oil, gas and petrochemical industries.Per PPG, PITT-CHAR NX is a significant advancement in fire protection technology, with higher safety performance in a thinner, lighter coating and is faster to apply. The coating product has been proven to be suitable for marine, offshore and industrial exposure without any degradation in fire resistance.PPG Industries has outperformed the industry over the past year. Zacks Rank & Stocks to ConsiderPPG Industries currently carries a Zacks Rank #4 (Sell).A few better-ranked stocks in the basic materials space are CF Industries Holdings, Inc. CF, The Mosaic Company MOS and KMG Chemicals, Inc. KMG.CF Industries has an expected long-term earnings growth rate of 6% and a Zacks Rank #1 (Strong Buy).

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Volkswagen to devote 3 German plants to electric car push

VOW

Volkswagen to devote 3 German plants to electric car push. FRANKFURT, Germany (AP) — German automaker Volkswagen says it will convert three factories in Germany to manufacture electric cars, getting ready to ramp up production of zero-local emission cars ahead of tougher European emissions standards. Volkswagen personnel head Gunnar Kilian says workers were given a jobs guarantee through 2028 but that the company would work to reduce positions "in a socially responsible way" since electrics require fewer production steps. Analysts say carmakers will need to add electric cars to their sales lineups to meet the new European Union rules on greenhouse gas emissions from 2021.

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Liberty Global "not desperate" to do Swiss deal - CFO

LBTYA LBTYK

BARCELONA, Nov 15 (Reuters) - Liberty Global is "not desperate" to strike a deal to divest its Swiss unit UPC, CFO Charlie Bracken said on Thursday, adding that the cable operator was investing to strengthen its video offering. "We're not desperate, that's really important," Bracken said at the Morgan Stanley Technology, Media and Telecoms Conference in Barcelona. Liberty is looking to divest assets where it does not see a profitable way into mobile markets. It has sold its Austrian unit to Deutsche Telekom, while the $21.8 billion sale of its operations in Germany and Central Europe to Vodafone is being reviewed by regulators.

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