USIMINAS: Losses Shrink 77% In 4Q17, To R$ 44.8 Million

Trading 09 fév 2018 Commentaire »

Brazilian steelmaker Usiminas reported a 77% decrease in its net loss in the fourth quarter of 2017 from a year before, to R$ 44.8 million (US$ 13.7 million). The loss was driven by higher operating and financial expenses, which overshadowed a 45% increase in revenue during the period, to R$ 3.076 billion.

Usiminas' net loss declined because in the fourth quarter of 2016 the company recorded an expense of R$ 418.3 million with income and social contribution taxes that led it from an operating profit of R$ 223.3 million to a net loss of R$ 194.9 million.

In the fourth quarter of last year, the company used a tax benefit of R$ 4.62 million, which helped reduce the R$ 49.5 million operating loss of the period.

Usiminas' EBITDA (earnings before interest, taxes, depreciation, and amortization) fell 36% in the fourth quarter from a year earlier to R$ 372.95 million, without adjustments. Adjusted EBITDA, which includes results of subsidiaries, increased 92.3% to R$ 450.37 million.

In 2017 as a whole, Usiminas recorded a profit of R$ 315.1 million, after a loss of R$ 576.8 million a year earlier, while the company's revenue grew 27% to R$ 10.7 billion.


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Who Is Erin Hamlin? 2018 Olympic Flag Bearer Coin Toss Controversy

Trading 09 fév 2018 Commentaire »
All eyes turn to the flag bearer for each country as they lead their teammates into the Opening Ceremony of the Olympics. But this year, there was controversy over who would carry the red white and blue for the United States. 

Who Is Kim Jong-Un’s Sister? Kim Yo-Jong, Mike Pence’s Seating Gets Cozy

Trading 09 fév 2018 Commentaire »
As the Olympics kicked off with their every-two-years message of world peace through athletic competition Thursday night, photographers noticed something curious. United States Vice President Mike Pence and his wife Karen, in Pyeongchang to represent the U.S., were seated directly in front of the North Korean delegation.

BRAZIL: Retail Sales Fall More Than Expected In December

Trading 09 fév 2018 Commentaire »

Retail sales in Brazil decreased by 1.5% in December from November, said the country's statistics office. The results, which exclude sales of vehicles and construction materials, were worse than the 0.5% decrease expected by analysts polled by Ag?ncia CMA.

On an annual basis, retail sales grew for the ninth consecutive month in December, at a 3.3% rate, also below expectations of a 4.5% rise.

As a result, retail sales close 2017 with a 2% increase, the best performance since 2014. In the last quarter of 2017, there was a 3.9% over the previous year. Private consumption in Brazil represents around 60% of the country's Gross Domestic Product (GDP).

Compared to November, six out of the eight retail sectors surveyed posted lower sales in December, highlighting articles of personal and domestic use (-6.3%), books, newspapers, and stationery (-4.0%) and hypermarkets, supermarkets, food products, beverages and tobacco (-3.0%).

At the opposite end, there was an advance in pharmaceutical, medical, orthopedic, perfumery and cosmetics (+ 1.2%) and fabrics, clothing, and footwear (+ 0.5%).

Annually, four of the eight sectors posted higher sales, with hypermarkets, supermarkets, food products, beverages and tobacco (+ 4.5%) and fabrics, clothing, and footwear (+7.0%). On the low side, fuel and lubricants (-7.2%) and equipment and supplies for office, computer, and communication (-18.2%) fell the most.


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Crypto California: Berkeley Plans Initial Coin Offering

Trading 09 fév 2018 Commentaire »
California is going crazy for cryptocurrency, and Silicon Valley entrepreneurs aren’t the only ones looking to raise money through initial coin offerings. Business Insider reported Berkeley’s municipal leaders are considering an ICO to help the city fundraise for affordable housing and social services for the growing homeless population.

India Schools See Increased Absence Amid Mass Cheating Scandal

Trading 09 fév 2018 Commentaire »
Students in India are reportedly failing to come in to take their exams as anti-cheating efforts have increased, government officials said. 

COLOMBIA: Government Launches Economic Strategy For Venezuelan Migration

Trading 09 fév 2018 Commentaire »

The Colombian government revealed what it called as a "comprehensive strategy" to deal with the wave of migration from Venezuela, which includes investments in social services, transportation, and basic sanitation products such as meat and milk, among others.

The President of Colombia, Juan Manuel Santos, announced in a rally that strategies to boost regional development in border areas would be reinforced to face the wave of migration from Venezuela.

"Here we have done a very important job to generate more economic activity and more employment, that is a priority issue," Santos said.

Santos also said that 1 billion pesos (US$ 345.9 thousand) are ready to support 100 companies in the garment sector and the arrival of new companies. It will also consolidate the registration of job vacancies through the National Service, which has 1,082 work positions available in the department (state) of Norte de Santander, 114 in Arauca, 875 in Cesar and 302 in Guajira.

Also, 15 projects have been approved for almost 8 billion pesos, which have benefited 959 people who were in the informal sector.


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Where Will LeBron James Play In 2018-2019? Lakers, Rockets, Cavaliers Among Betting Favorites

Trading 09 fév 2018 Commentaire »
No one has any idea where LeBron James will be playing next season. Sure, there seems to be a select number of realistic destinations for the second-best player in NBA history, but no team has a clear edge over all the others in free agency.

Russian Nuclear Scientists Used Supercomputers To Mine For Cryptocurrency

Trading 09 fév 2018 Commentaire »
Russian security officials arrested a number of scientists working at a secret Russian nuclear weapons facility for allegedly using lab equipment to mine for cryptocurrencies, according to Russia's Interfax News Agency . The engineers arrested in the incident were working at the All-Russian Research Institute of Experimental Physics (RFNC-VNIIEF). No official criminal charges have been announced and law enforcement has not said how many members of the operation were detained.

HomePod Vs. Google Home Max: Comparison Of Price, Features, Sound

Trading 09 fév 2018 Commentaire »
Apple finally released its HomePod on Friday after pushing back its planned December release. The HomePod comes into the smart speaker market that already has various options for customers, including gadgets from Amazon, Google and Sonos. The HomePod is one of the priciest home speaker models out there, priced just $50 less than the Google Home Max. Here’s a comparison of both devices.