South Korea exports to China, U.S. and EU post double digit growth

FILE PHOTO: Shipping containers are seen at the Hanjin Shipping container terminal at Incheon New Port in Incheon, South Korea, September 7, 2016. REUTERS/Kim Hong-Ji/File Photo

October 1, 2017

SEOUL (Reuters) – South Korea’s exports to major trading partners including the United States, China and EU all posted double-digit growth in September from a year earlier, government data showed on Sunday.

Shipments to the United States jumped 28.9 percent in September from a year earlier, while those to China and the EU rose 23.4 percent and 23 percent respectively, a statement from the nation’s trade ministry showed.

(Reporting by Cynthia Kim; Editing by Bill Trott)

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Catalans prepare to defy Madrid in banned independence vote

People attend a demonstration in favour of a unified Spain a day before the banned October 1 independence referendum, in Barcelona, Spain, September 30, 2017. REUTERS/Yves Herman

September 30, 2017

By Jordi Rubio

BARCELONA (Reuters) – Tens of thousands of Catalans are expected to defy Spanish authorities and attempt to vote in a banned independence referendum on Sunday, raising fears of unrest in the wealthy northeastern region.

The referendum, declared illegal by Spain’s central government, has thrown the country into its worst constitutional crisis in decades and raised fears of street violence as a test of will between Madrid and Barcelona plays out.

In a sign of how the planned vote has polarized the country, thousands of pro-unity demonstrators gathered in Spain’s major cities, including Barcelona, to express their fierce opposition to Catalonia’s attempt to break away.

In the region itself, hundreds of supporters of the referendum spent the day with their children playing football, board games and ping pong in schools, traditionally used as voting stations in Spain, to keep them open until voting starts at 9 a.m. (0700 GMT) on Sunday.

The government said just a small percentage of schools were occupied, however, and that it had verified that most of the more than 2,300 earmarked for the vote were closed.

In those where they gathered, parents brought sleeping bags and prepared to bed down on gym mats.

“We don’t understand why we can’t express in a peaceful manner the simplest expression of democracy – a vote,” said Pablo Larranaga, as he stood in a school in Barcelona surrounded by parents and small children.

“We don’t know what is going to happen tomorrow. We are going to try to vote in the only way we know, which is peacefully.”

It is still unclear whether the referendum will go ahead despite the regional government’s assertions that it will proceed and Madrid’s insistence that it will block the move.

The ballot will have no legal status as it has been blocked by Spain’s Constitutional Court and Madrid for being at odds with the 1978 constitution.

A minority of around 40 percent of Catalans support independence, polls show, although a majority want to hold a referendum on the issue. The region of 7.5 million people has an economy larger than that of Portugal.

SPANISH FLAGS

However much voting takes place, a “yes” result is likely, given that most of those who support independence are expected to cast ballots while most of those against it are not.

Police monitored schools earmarked as polling stations and occupied the Catalan government’s communications hub on Saturday in an effort to prevent the referendum from going ahead.

The Catalan police, or Mossos d’Esquadra, who are monitoring the schools, are held in great affection by the Catalan people, especially after Islamist attacks in the region in August that killed 16.

But thousands of extra police have been sent to the region in order to enforce a court order banning the referendum, many of whom are billeted in two ships in the port.

A Spanish government source said it would be up to police how they carried out orders to remove people from polling stations on Sunday. The head of the Catalan police on Friday urged officers to avoid the use of force.

Organizers urged voters to arrive at 5 a.m. (0300 GMT) at polling stations and to wait in line until the schools opened. Voters must show peaceful resistance to police action, organizers said.

“We must be sure there are lots of people present of all ages,” they said in instructions disseminated on social media.

Any volunteer staffing a voting station with use of a census listing eligible voters would be liable for a fine of up to 300,000 euros, the government source said.

Thousands of pro-unity demonstrators waving Spanish flags filled the central square outside the seat of the regional government and Barcelona city hall.

One man burnt the Catalan flag while a group tried to tear down a banner reading ‘More democracy’ hanging from the front of the town hall to cheers from the crowd.

In the capital Madrid, hundreds gathered waving the national flag and chanting ‘Spanish unity’ and ‘Don’t fool us – Catalonia is Spain’. Many balconies in the capital are draped with the red and yellow Spanish flag.

(Writing by Sonya Dowsett; Editing by Hugh Lawson)

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Golf: Another win gives Mickelson all-time record at Presidents Cup

Sep 29, 2017; Jersey City, NJ, USA; Phil Mickelson reacts after making a putt 18th hole during the second round four-ball matches of The President’s Cup golf tournament at Liberty National Golf Course. Mandatory Credit: Bill Streicher-USA TODAY Sports

September 30, 2017

By Andrew Both

JERSEY CITY, New Jersey (Reuters) – Phil Mickelson won the 25th Presidents Cup match of his career on Saturday, a record one better than fellow American Tiger Woods.

Mickelson achieved the mark when he teamed up with Kevin Kisner to beat the International duo of Jhonattan Vegas and Emiliano Grillo 2&1 in a morning foursomes match at Liberty National.

Mickelson also became the most successful player in foursomes, with 12 career victories — one more than Woods, who is an assistant captain this week.

The 47-year-old Mickelson, who has played every Presidents Cup since the event was created in 1994, deflected praise, instead heaping compliments on Kisner.

“He drives it like a stallion and putts even better than that… pulling out the best golf in me,” Mickelson said.

Mickelson improved his career record in the Cup to 25 wins, 16 losses and 13 losses.

U.S. captain Steve Stricker rewarded Mickelson with a rest, sitting him out of the afternoon four-ball matches.

With the Americans enjoying a nearly insurmountable 11-1/2 to 2-1/2 lead, Mickelson’s absence was not likely to be missed.

Stricker, suffering an embarrassment of riches, also rested Rickie Fowler, Kisner and Matt Kuchar.

Price benched Adam Scott after three straight losses, continuing the Australian’s miserable week, his woes compounded by the defeat of his beloved Adelaide Crows in the Australian Football League grand final overnight.

Price also omitted Canadian Adam Hadwin, Argentine Emiliano Grillo and South African Charl Schwartzel.

DRAW FOR AFTERNOON FOUR-BALL MATCHES, (U.S. names first):

Jordan Spieth/Patrick Reed v Jason Day/Louis Oosthuizen

Justin Thomas/Daniel Berger v Hideki Matsuyama/Jhonattan Vegas

Charley Hoffman/Kevin Chappell v Kim Si-woo/Anirban Lahiri

Dustin Johnson/Brooks Koepka v Branden Grace/Marc Leishman

(Reporting by Andrew Both; Editing by Clare Fallon)

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Renewable energy investors see opportunity in Puerto Rico’s demolished grid

Power lines are seen near Guayama after Hurricane Maria, in Puerto Rico, September 29, 2017 REUTERS/Alvin Baez

September 30, 2017

By Valerie Volcovici and Nichola Groom

WASHINGTON/LOS ANGELES (Reuters) – Hurricane Maria destroyed Puerto Rico’s antiquated and bankrupt electrical system, leaving millions in the dark and utility crews scrambling to help.

Now some politicians and renewable energy investors see a golden opportunity in the crisis to use federal funds to re-invent the U.S. territory’s grid as a storm-resistant network that relies less on costly coal and oil imports and more on local wind, solar, and batteries.

If it happens, it could ease power bills on an island that struggles with the second-costliest electricity in the United States, behind Hawaii, as well as infrastructure prone to failing in the region’s frequent hurricanes.

“We cannot waste the opportunity of this crisis and federal aid package,” said Ramon Luis Nieves, a Puerto Rican politician in the Popular Democratic Party, who headed the island’s senate energy committee until his term expired in January.

“We need to focus on not only getting the grid back up, but improving it so it can tolerate more renewable energy.”

A set of bills introduced this week by U.S. Democratic Senator Ron Wyden of Oregon would call on the Department of Energy to make the U.S. electric grid hardier against natural disasters, and would offer grants for small scale, grid connected solar and other projects.

A Wyden aide said Puerto Rico’s utility, the Puerto Rico Electric Power Authority (PREPA), could apply for such grants to modernize the grid, or get funds from the Federal Emergency Management Agency to rebuild and then apply for the grants to help pay for upgrades.

Efforts to reach a PREPA official were not successful.

That government support would be crucial. PREPA was $9 billion in debt before declaring bankruptcy in July. Its equipment was already “degraded and unsafe,” according to a draft fiscal report the company filed in April.

Around half of Puerto Rico’s electricity is generated from imported fuel oil, with another third coming from natural gas, and much of the rest from coal, according to the Department of Energy.

Renewables supply about 2.4 percent, though the island has set a goal to obtain 20 percent of its electricity from renewables by 2035.

FUTURE GRID

The prospect of a new grid in Puerto Rico has some renewable energy companies and investors interested. Jeff Ciachurski, CEO of Greenbriar Capital, a renewable energy investor in Puerto Rico, California and Arizona, said government support could open up new opportunities for the sector to take over market share.

“The federal government is in the driver’s seat,” he said.

Sunnova, a residential solar installer with 10,000 customers in Puerto Rico, said it was working with the governor to try to restore power off-grid in the short-term, but said the destruction also creates an opportunity to create a new, renewable-friendly grid.

“Everybody can agree that what the future and the new power industry and system look like is not what was there before,” John Berger, Sunnova CEO, told Reuters.

Tesla, meanwhile, is sending hundreds of batteries that can store power generated by solar panels to Puerto Rico to provide emergency help in the wake of Maria. A company spokesperson did not say what Tesla’s future plans were.

On Friday, Puerto Rico Governor Ricardo Rossello said his team is looking at alternative ways to bring power back on the island, including by using microgrids, small power networks that can work independently of the main grid.

Judith Enck, a former Environmental Protection Agency regional administrator for Puerto Rico, said solar-powered microgrids, as well as buried power lines, could allow for a more rapid recovery after storms.

Hurricane Maria left the entire island and its 3.4 million residents without power and destroyed 80 percent of its transmission and distribution infrastructure, according to the Department of Energy.

The Army Corps of Engineers has been placed in charge of restoring power as quickly as possible, a key step to restoring other basic services like water, fuel, and food.

(Reporting by Valerie Volcovici and Nichola Groom, Editing by Richard Valdmanis and Rosalba O’Brien)

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North Korea seen moving missiles from development center – South Korean broadcaster

North Korea’s leader Kim Jong Un makes a statement regarding U.S. President Donald Trump’s speech at the U.N. general assembly, in this undated photo released by North Korea’s Korean Central News Agency (KCNA) in Pyongyang September 22, 2017. KCNA via REUTERS

September 30, 2017

SEOUL (Reuters) – Several North Korean missiles were recently spotted moved from a rocket facility in the capital Pyongyang, South Korea’s Korean Broadcasting System (KBS) reported late Friday amid speculation that the North was preparing to take more provocative actions.

The report cited an unnamed intelligence source saying South Korean and U.S. intelligence officials detected missiles being transported away from North Korea’s Missile Research and Development Facility at Sanum-dong in the northern part of Pyongyang.

The report did not say when or where they had been moved.

The missiles could be either intermediate range Hwasong-12 or intercontinental ballistic Hwasong-14 missiles, according to the report, though the missile facility at Sanum-dong has been dedicated to the production of intercontinental ballistic missiles.

A source from South Korea’s defense ministry said he could not confirm details of the report or whether there has been any unusual activities in the area mentioned.

South Korean official have voiced concerns that North Korea could conduct more provocative acts near the anniversary of the founding of its communist party on Oct. 10, or possibly when China holds its Communist Party Congress on Oct. 18.

Amid heightened tensions on the Korean Peninsula, South Korea and U.S. forces recently held their first joint short range air defense training exercise in South Korea, according to a statement released by the U.S. Pacific Command on Friday.

The statement did not give the date of the exercise, but said the next exercise is scheduled to take place over the next few months as the two forces become more familiar with each other’s capabilities.

(Reporting by Heekyong Yang; Editing by Simon Cameron-Moore and Richard Pullin)

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U.S. four-ball rout leaves Internationals shell-shocked

Sep 29, 2017; Jersey City, NJ, USA; Charley Hoffman hits a shot from the sand on the fourth hole during the second round four-ball matches of The President’s Cup golf tournament at Liberty National Golf Course. Mandatory Credit: Kyle Terada-USA TODAY Sports

September 30, 2017

By Steve Keating

JERSEY CITY, New Jersey (Reuters) – The United States were threatening to run away with another Presidents Cup after a four-ball rout on Friday that left a International team reeling and searching for answers.

Under the gaze of the Statue of Liberty, the United States have been domineering hosts, winning four of five four-ball matches and halving the other surging to a 8-2 lead to the delight of a giddy home crowd at Liberty National.

The United States have won nine of 11 Presidents Cups, including the last six and if the International team, comprised of players from the rest of the world except Europe, are to end the drought they will have to overturn the biggest U.S. advantage ever after Day Two of the biennial competition.

So complete has been the United States dominance that they can clinch the Cup on Saturday, leaving Sunday’s singles nothing more than dead rubbers.

With both foursomes and four-ball action scheduled for Saturday, the United States need to collect 7.5 points from a possible eight to decide the competition.

“I think we saw the strength of the U.S. team come out today but in all fairness to my guys, I don’t think they played as well as they were capable of,” said International captain Nick Price, who was refusing to wave the white flag. “There’s a long way to go. I know the U.S. team knows that.

“This is a tough American team. It’s a very, very strong team and we can’t make a lot of mistakes.

“We have another 20 points left. We’re not laying down. These guys are going to come out fighting over the next two days and especially tomorrow.”

Presidents Cup debutantes Charley Hoffman and Kevin Chappell, who sat out Thursday’s opening foursomes, showed no signs of jitters as they led the American stampede with a dominating 6&5 victory over South African Charl Schwartzel and India’s Anirban Lahiri to notch the first point of the day.

“I took it pretty well, but yesterday was hard,” said Hoffman of having to watch the opening matches from the sidelines. “Kevin and I were biting at the bit to get out there and play.

“It gave us a little more fire and momentum going into today.”

With the sun setting over the Manhattan skyline, Phil Mickelson, who has played in every edition of the Presidents Cup, dropped a 12-foot birdie putt at the par three 18th to clinch a one-up victory for himself and partner Kevin Kisner over Australians Jason Day and Marc Leishman, sparking wild cheers from his team mates and fans packed around the finishing hole.

For Mickelson it was his 24th Presidents Cup victory, tying him with Tiger Woods for the most all-time, as the five time major winning hailed the team as the best he has ever seen.

“I just love every opportunity to be a part of these events and on these teams,” said Mickelson. “This team is a unique team from any in the past in that the talent level is high or higher than we’ve ever had, and the camaraderie amongst each other on and off the course is a whole different environment.”

Also scoring points for the U.S. were Brooks Koepka and Dustin Johnson, who birdied the final two holes for a 3&2 decision over Australia’s Adam Scott and Venezuela’s Jhonattan Vegas, and Rickie Fowler and Justin Thomas with a 3&2 victory over South Africans Louis Oosthuizen and Branden Grace.

Jordan Spieth and Patrick Reed contributed a half point to the U.S. effort when their match with Hideki Matsuyama and Canada’s Adam Hadwin ended all-square.

“It is a big lead the Americans have right now but we still have 10 matches tomorrow and we have 12 matches in the singles on Sunday,” said a struggling Matsuyama, the Internationals highest ranked player at world number three who will be benched for Saturday’s foursomes by Price. “I think every one of my teammates feel the same way; that there’s still a chance.”

(Editing by Andrew Both and Pritha Sarkar/Gene Cherry)

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Wall Street closes with fresh records; tech boosts

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 27, 2017. REUTERS/Brendan McDermid

September 29, 2017

(Reuters) – The S&P 500 and the Nasdaq advanced to record levels on Friday, buoyed by gains in technology stocks, and each of the major indexes closed out the quarter with solid gains.

The Dow Jones Industrial Average <.DJI> rose 21.55 points, or 0.1 percent, to 22,402.75, the S&P 500 <.SPX> gained 9.17 points, or 0.37 percent, to 2,519.23 and the Nasdaq Composite <.IXIC> added 42.51 points, or 0.66 percent, to 6,495.96.

(Reporting By Chuck Mikolajczak; Editing by Nick Zieminski)

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The pope is writing a document on fake news – and that’s the truth

Pope Francis gestures as he leads the Wednesday general audience in Saint Peter’s Square at the Vatican, September 27, 2017. REUTERS/Alessandro Bianchi

September 29, 2017

VATICAN CITY (Reuters) – If you ever wondered how to say “fake news” in Latin, it’s “nuntii fallaces” – and Pope Francis is writing a document on just that.

Francis announced it himself in a tweet to his nearly 40 million followers on Friday, saying the theme of his message for the Roman Catholic Church’s next World Day of Social Communications will be “The truth will set you free. Fake news and journalism for peace.”

In Latin, one of the nine languages the pope uses to tweet, that would be “Veritas liberavit vos. Nuntii fallaces et diurniariorum opus ad pacem.”

A Vatican statement said the issue was important enough for the pope to address because “fake news contributes to generating and nurturing a strong polarization of opinions.”

A distortion of facts, it said, can have “repercussions at the level of individual and collective behavior.”

Francis said in an interview last year that media that focus on scandals and spread fake news to smear politicians risk becoming like people who have a morbid fascination with excrement.

The Vatican statement said the leader of the 1.2 billion member Church wanted to offer “a reflection on the causes, the logic and the consequences of disinformation in the media, and helping to promote professional journalism, which always seeks the truth”.

The Church’s World Day of Social Communications is celebrated on January 24, feast of St Francis de Sales, the patron of journalists.

The message is usually released several weeks before.

(Reporting By Philip Pullella)

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Motor racing: Vettel leads Raikkonen in Malaysian GP practice

FILE PHOTO: Formula One F1 – Malaysia Grand Prix 2017 – Drivers’ News Conference – Sepang, Malaysia – September 28, 2017 Ferrari’s Sebastian Vettel speaks during news conference. REUTERS/Edgar Su

September 29, 2017

By Abhishek Takle

SEPANG, Malaysia (Reuters) – Sebastian Vettel went fastest ahead of team mate Kimi Raikkonen as Ferrari set the pace on the opening day of Malaysian Formula One Grand Prix practice on Friday.

Vettel’s time of one minute 31.261, the fastest ever around the 5.5-kilometre Sepang track, was set in the second 90-minute session in the afternoon, which was brought to an early halt after a loose drain cover caused a heavy crash for Romain Grosjean.

Vettel had been fifth quickest in the rain-hit opening session. The Ferrari driver’s championship-leading title rival Lewis Hamilton was only sixth fastest in the afternoon, as he had been in the first session, ahead of team mate Valtteri Bottas with both Mercedes drivers reporting a general lack of grip.

Ferrari’s Friday display and Mercedes’ struggles will be welcomed by Vettel who trails Hamilton by 28 points in the overall standings with six races left.

A record four-times winner in Malaysia, Vettel desperately needs a fifth victory after his title hopes were dealt a severe blow at the last race in Singapore, where the German crashed out on the opening lap to clear the way for Hamilton to win.

Daniel Ricciardo, who led a one-two with team mate Max Verstappen in last year’s Malaysian race, ended the day third fastest ahead of the Dutchman.

Verstappen, who turns 20 on Saturday, had ended Friday’s opening session fastest ahead of the Australian.

Fernando Alonso, who vaulted up the order on a rapidly drying track to end the first session third, was an impressive fifth for McLaren. Sergio Perez in the Force India was eighth ahead of Renault’s Nico Hulkenberg and team mate Esteban Ocon who rounded out the top 10.

Frenchman Pierre Gasly, making his Formula One debut this weekend after being drafted in as a replacement for under-performing Russian Daniil Kvyat at Toro Rosso, was 15th fastest.

The 21-year-old, being evaluated as a permanent replacement for Renault-bound Carlos Sainz for next season, outpaced the Spaniard who was 16th.

Neither of Friday’s two sessions ran to their full 90-minute length.

The morning session was delayed by half an hour due to a tropical downpour that lashed the track minutes before its scheduled start. Grosjean’s crash in the afternoon brought out the red flags with 22 minutes of the session left.

The Frenchman hit the loose drain cover with his right rear tyre, which exploded upon impact and pitched his Haas into the barriers. The session was not restarted, with Formula One race director Charlie Whiting driving out in the safety car to inspect the damaged drain.

(Editing by Ed Osmond)

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More than 50 Rohingya missing as U.S. steps up pressure on Myanmar

Rohingya refugee children gather on a truck in Cox’s Bazar, Bangladesh, September 28, 2017. REUTERS/Cathal McNaughton

September 29, 2017

By Tommy Wilkes and Michelle Nichols

COX’S BAZAR, Bangladesh/UNITED NATIONS (Reuters) – More than 50 Rohingya refugees from Myanmar are missing after their boat capsized, with 19 confirmed dead, Bangladesh police said on Friday, as a new surge in the numbers fleeing a Myanmar military campaign took the total to more than half a million.

The refugees drowned in heavy seas off Bangladesh late on Thursday while, in New York, U.S. Ambassador to the United Nations Nikki Haley called on countries to suspend providing weapons to Myanmar over violence against Rohingya Muslims.

It was the first time the United States had called for punishment of Myanmar’s military leaders behind the repression, but she stopped short of threatening to reimpose U.S. sanctions which were suspended under the Obama administration.

Buddhist-majority Myanmar rejects accusations of ethnic cleansing and crimes against humanity and has denounced rights abuses.

Its military launched a sweeping military offensive in response to coordinated attacks on the security forces by Rohingya insurgents in the north of Rakhine State on Aug. 25.

Refugees arriving in Myanmar have told of attacks and arson by the military and Buddhist vigilantes aimed at driving Rohingya out.

United Nations Secretary-General Antonio Guterres told the Security Council the violence had spiraled into the “world’s fastest developing refugee emergency, a humanitarian and human rights nightmare”.

Bangladeshi border officials said more refugees had arrived over the past day or two after the number seemed to be tailing off. Aid groups said 502,000 refugees had arrived in Bangladesh since late August.

“It stopped for a while but they have started coming again,” Colonel Anisul Haque, head of the Bangladeshi border guards in the town of Teknaf, told Reuters.

“Last night, we got a number arriving. They seem to think it will be difficult to cross during the day because security forces will make it difficult for them,” he said.

He said about 1,000 people had landed at the main arrival point on the coast on Thursday.

The boat carrying refugees went down in driving wind and rain and high seas. The International Organization for Migration said about 130 people were believed to have been on board.

Bangladesh police said there were 27 survivors, 19 dead and more than 50 missing.

‘BRUTAL CAMPAIGN’

In a sharp ramping up of the pressure on Myanmar, also known as Burma, Haley echoed U.N. accusations that the displacement of hundreds of thousands of people in Rakhine State was ethnic cleansing.

“We cannot be afraid to call the actions of the Burmese authorities what they appear to be – a brutal, sustained campaign to cleanse the country of an ethnic minority,” Haley told the U.N. Security Council.

The United States had earlier said the army response to the insurgent attacks was “disproportionate” and the crisis raised questions about Myanmar’s transition to democracy, under the leadership of Nobel laureate Aung San Suu Kyi, after decades of military rule.

Suu Kyi has no power over the generals under a military-drafted constitution that bars her from the presidency. She has nevertheless drawn scathing criticism from around the world for failing to speak out more strongly and stop the violence.

The military campaign against the Rohingya insurgents is well supported inside Myanmar, where Buddhist nationalism has surged over the past few years.

Haley said the military must respect human rights and fundamental freedoms.

“Those who have been accused of committing abuses should be removed from command responsibilities immediately and prosecuted for wrongdoing,” she said.

“And any country that is currently providing weapons to the Burmese military should suspend these activities until sufficient accountability measures are in place,” Haley said.

Myanmar national security adviser Thaung Tun said at the United Nations there was no ethnic cleansing or genocide in Myanmar.

He told the Security Council that Myanmar had invited Guterres to visit. A U.N. official said the secretary-general would consider visiting under the right conditions.

China and Russia both expressed support for the Myanmar government. Myanmar said this month it was negotiating with China and Russia, which have veto powers in the Security Council, to protect it from any possible action by the council.

(Additional reporting by Serajul Quadir in DHAKA; Writing by Robert Birsel; Editing by Paul Tait)

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Florida says it has no indication O.J. Simpson moving there

O.J. Simpson speaks during his parole hearing at Lovelock Correctional Center in Lovelock, Nevada, U.S., July 20, 2017. REUTERS/Jason Bean/Pool

September 29, 2017

LOS ANGELES (Reuters) – Florida corrections officials said on Thursday they had no indication from O.J. Simpson that he would move to the state after his upcoming release from a Nevada prison, amid speculation about the former “Trial of the Century” defendant’s post-incarceration plans.

Simpson, 70, had told Nevada parole commissioners that he planned to move to Florida, where he has friends and family.

The release of Simpson on parole after serving nine years for a botched armed robbery at a Las Vegas hotel casino has generated wide interest in the media, but few details about his first moments of freedom have been made public.

Nevada corrections officials have said only that the former football star, once nicknamed “The Juice,” would be released from prison sometime shortly after Oct. 1, the date of his parole.

A spokeswoman for the Florida Department of Corrections said on Thursday that the state had not received a transfer request or any documentation regarding Simpson and had not been contacted by its counterparts in Nevada.

Simpson was sentenced in 2008 to nine years in prison for the Las Vegas hotel heist of his own mementos.

In granting his release, the parole commissioners said they did not take into consideration the notoriety still surrounding Simpson’s 1995 acquittal from charges he murdered his ex-wife, Nicole Brown Simpson, and her friend Ronald Goldman and a civil court decision that found him liable for the deaths and ordered him to pay $33.5 million in damages.

(Reporting by Dan Whitcomb; Editing by Leslie Adler)

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California, Wisconsin deny election systems targeted by Russian hackers

FILE PHOTO: People vote at the Evergreen Recreation Center during the 2016 presidential election in the Boyle Heights area of Los Angeles, California, U.S., November 8, 2016. REUTERS/Mario Anzuoni

September 28, 2017

By David Shepardson

WASHINGTON (Reuters) – California and Wisconsin said the U.S. Department of Homeland Security was incorrect when it notified them last week they were among 21 states whose election systems were targeted by Russian hackers during the 2016 election.

California Secretary of State Alex Padilla said on Thursday DHS notified the state that Russian cyber actors “‘scanned’ California’s Internet-facing systems in 2016, including Secretary of State websites.”

California said after asking for more details “it became clear that DHS’ conclusions were wrong. DHS confirmed that Russian scanning activity had actually occurred on the California Department of Technology statewide network, not any Secretary of State website.”

Padilla said that the notification “was not only a year late, it also turned out to be bad information.”

DHS spokesman Scott McConnell said notifications to 21 states were “based on a variety of sources, including scanning detected from malicious IP addresses and intelligence information that cannot be publicly disclosed.”

The government has “provided additional information and clarity to a number of states,” he said.

DHS “stands by its assessment that Internet-connected networks in 21 states were the target of Russian government cyber actors seeking vulnerabilities and access to U.S. election infrastructure,” he said.

Wisconsin election officials on Wednesday released an email from DHS that said the IP address targeted was at the Wisconsin Department of Workforce Development, not the state’s elections commission.

DHS told states including Ohio, Alabama, Alaska, Colorado, Connecticut, Florida, Minnesota, Texas, Virginia, Pennsylvania, Delaware, Iowa, Maryland and Washington state they were targeted by Russian hackers but said the hackers were not successful. Arizona and Illinois confirmed last year that they were targets.

There is no evidence any votes were changed, DHS said.

Russia has denied election meddling, and President Donald Trump has denied any collusion with Russia.

“There remains no evidence that the Russians altered one vote or changed one registration,” said Judd Choate, president of the U.S. National Association of State Election Directors.

Homeland Security officials have said that in most of the 21 states only preliminary activity was observed from hackers and a small number of networks were compromised.

U.S. intelligence agencies have concluded the Kremlin orchestrated an operation that included hacking and online propaganda intended to help Trump win, Reuters reported in August.

Several congressional committees are investigating and special counsel Robert Mueller is leading a separate probe into the Russia matter, including whether Moscow colluded with the Trump campaign.

(Reporting by David Shepardson; Editing by Cynthia Osterman)

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Oil prices climb on tension over Iraqi Kurdistan

FILE PHOTO: A pumpjack brings oil to the surface in the Monterey Shale, California, April 29, 2013. REUTERS/Lucy Nicholson/File Photo

September 28, 2017

By Christopher Johnson

LONDON (Reuters) – Oil prices rose on Thursday, spurred by tension around northern Iraq following the Kurdistan region’s vote in favor of independence in a referendum.

Brent crude <LCOc1> was up 55 cents at $58.45 a barrel by 1330 GMT. It hit a more than two-year high of $59.49 on Tuesday after Monday’s referendum vote prompted Turkey to threaten to close the region’s oil pipeline.

U.S. light crude <CLc1> was up 45 cents at $52.59 after reaching a five-month intraday high of $52.86.

“Kurdistan and northern Iraq now export 500,000-550,000 barrels per day (bpd). That would be a big loss to the market,” said Tamas Varga, analyst at brokerage PVM Oil Associates.

Iraqi Kurdistan voted overwhelmingly in favor of independence, prompting Turkish President Tayyip Erdogan to say he could use force to prevent the formation of an independent Kurdish state and might close the oil “tap”.

Turkey promised on Thursday to deal only with the Iraqi government on crude, “restricting oil export” operations to Baghdad, the office of Iraqi Prime Minister Haider al-Abadi said.

Torbjorn Soltvedt, principal analyst for the Middle East at risk consultancy Verisk Maplecroft, said there was a roughly 20 percent chance that the pipeline linking northern Iraq and Ceyhan in Turkey would be shut.

“It’s not inconceivable that Turkey would sacrifice trade and oil flows for domestic political issues,” he told Reuters Global Oil Forum. “If things keep escalating after this then (oil) supply could become a real concern.”

U.S. crude also found some strength from a surprise fall in U.S. stocks. Domestic crude inventories <USOILC=ECI> dropped by 1.8 million barrels last week, the U.S. Energy Department said, versus forecasts for a build of 3.4 million barrels.

The outlook for oil demand has strengthened, analysts say.

The International Energy Agency this month raised its 2017 global oil demand growth estimate to 1.6 million bpd from 1.5 million bpd, citing strength in the United States and Europe.

Still, U.S. crude production rose to 9.55 million bpd last week, higher than before Hurricane Harvey hit the Gulf Coast.

With Brent futures commanding their highest premium over U.S. crude <WTCLc1-LCOc1> in more than two years, U.S. crude has become increasingly competitive in foreign markets and exports hit a record 1.5 million bpd last week.

That complicates efforts by the Organization of the Petroleum Exporting Countries and other major producers to push oil higher through output curbs, as every rise in price encourages more U.S. production.

(Additional reporting by Aaron Sheldrick in Tokyo; Editing by Dale Hudson)

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ECB to discuss policy recalibration, not stimulus exit: Praet

FILE PHOTO – European Central Bank Executive Board Member, Peter Praet, speaks during a conference in Sofia, Bulgaria May 24, 2017. REUTERS/Stoyan Nenov

September 28, 2017

BERLIN (Reuters) – European Central Bank policymakers will discuss a recalibraion of policy measures this autumn, not an exit from stimulus, ECB chief economist Peter Praet told a conference in Berlin.

“I am not talking about exit, I am talking about recalibration,” Praet said. “I will not prejudge.”

The ECB has said it will discuss in October whether to cut stimulus from next year given solid growth and the waning threat of deflation.

(Reporting by Reinhard Becker; Writing by Balazs Koranyi; Editing by Francesco Canepa)

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Playboy founder Hugh Hefner dies at age 91

FILE PHOTO – Hugh Hefner, founder of Playboy magazine, twirls a napkin during a performance by Dr. John and the Lower 911 at the 30th annual Playboy Jazz Festival at the Hollywood Bowl in Hollywood, California June 14, 2008. REUTERS/Fred Prouser/File Photo

September 28, 2017

(Reuters) – Playboy founder Hugh Hefner, who helped usher in the 1960s sexual revolution with his groundbreaking men’s magazine and built a business empire around his libertine lifestyle, died on Wednesday at the age of 91, Playboy Enterprises said.

Hefner, once called the “prophet of pop hedonism” by Time magazine, peacefully passed away at his home, Playboy Enterprises said in a statement.

Hefner was sometimes characterized as an oversexed Peter Pan as he kept a harem of young blondes that numbered as many as seven at his legendary Playboy Mansion. This was chronicled in “The Girls Next Door,” a TV reality show that aired from 2005 through 2010. He said that thanks to the impotency-fighting drug Viagra he continued exercising his libido into his 80s.

“I’m never going to grow up,” Hefner said in a CNN interview when he was 82. “Staying young is what it is all about for me. Holding on to the boy and long ago I decided that age really didn’t matter and as long as the ladies … feel the same way, that’s fine with me.”

Hefner settled down somewhat in 2012 at age 86 when he took Crystal Harris, who was 60 years younger, as his third wife.

He said his swinging lifestyle might have been a reaction to growing up in a repressed family where affection was rarely exhibited. His so-called stunted childhood led to a multi-million-dollar enterprise that centered on naked women but also espoused Hefner’s “Playboy philosophy” based on romance, style and the casting off of mainstream mores.

That philosophy came to life at the legendary parties in his mansions – first in his native Chicago, then in Los Angeles’ exclusive Holmby Hills neighborhood – where legions of male celebrities swarmed to mingle with beautiful young women.

(Reporting by Subrat Patnaik in Bengaluru; Brendan O’Brien in Milwaukee; Editing by Gopakumar Warrier and Michael Perry)

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Pimco Total Return Bond Fund, since Gross exit, outperforms most peers

The offices of Pacific Investment Management Co (PIMCO) are shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake

September 27, 2017

By Jennifer Ablan

NEW YORK (Reuters) – Three years after Bill Gross shocked the financial world by exiting Pacific Investment Management Co and ending his reign over Pimco Total Return Bond (PTTRX) fund, investors who stuck with the bond fund have come out ahead of those at most of its rivals.

Alas, many did not wait around.

Pimco Total Return, once the world’s largest bond fund, was taken over by Scott Mather, Mark Kiesel and Mihir Worah. Since then, it has returned an average 3.34 percent annually in the three years through Sept. 26, topping 88 percent of its Morningstar peer category.

But the fund, which Gross had managed from 1987 until he resigned on Sept. 26, 2014 from the investment firm he co-founded, remains only about one-fourth as large as it was inApril 2013, when assets under management peaked at $292.9 billion.

There are signs the heavy outflows may have subsided.

Investors in August added $348 million of new cash into the fund, not including reinvested dividends, bringing its assetsunder management to $74.7 billion as of Aug. 31. Assets dipped slightly to $74.5 billion as of Sept. 26.

“Despite the fund having a strong record, retail and institutional investors can have long memories and are less likely to return quickly to a fund they sold due to departed fund manager,” said Todd Rosenbluth, director of fund research at New-York based CFRA.

“While the asset bleeding has slowed,net new inflows have not materialized.”

For its part, the Pimco Unconstrained Bond Fund (PFIUX) – taken over by Marc Seidner from Gross – has also posted solid returns.

Its average annual returns in the three years through Sept. 26 were 3.11 percent, better than 68 percent of its Morningstar peer category.

Even there, however, assets under management have shrunk to $3.6 billion as of Sept. 26 from $18.3 billion three years ago.

Gross ran that fund for nine months, from December 2013 until his departure from Pimco.

He now runs a similar fund for Janus Henderson Investors.

“Pimco’s Total Return and Unconstrained Bond strategies have been able to generate attractive returns even during challenging periods in the bond market by diversifying their portfolios and cultivating the best ideas generated by Pimco’s more than 220 portfolio managers,” a Pimco spokeswoman told Reuters on Wednesday.

Pimco, which had $1.61 trillion in assets under management overall as of June 30, is owned by German insurer Allianz SE.

(Reporting By Jennifer Ablan; Editing by David Gregorio)

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Exclusive: Spotify’s valuation turned up to $16 billion in private trades – sources

FILE PHOTO: Earphones are seen on a tablet screen with a Spotify logo on it, in Zenica, Bosnia and Herzegovina, February 20, 2014. REUTERS/Dado Ruvic/File Photo

September 27, 2017

By Sophie Sassard, Helena Soderpalm and Olof Swahnberg

LONDON/STOCKHOLM (Reuters) – Private trades in Spotify shares are valuing the music streaming company at about $16 billion, according to people familiar with the deals, raising the prospect of a bumper flotation next year.

That is around $3 billion higher than in similar trades up until June, the people said, adding strong demand for the shares and rising subscription numbers at the Swedish business meant it could be worth at least $20 billion when it goes public.

Spotify declined to comment.

The market for shares prior to their public listing allows employees and founders of big name private companies such as Spotify, Airbnb and Uber to cash in on some of their paper wealth, while letting other investors get a head start on the listing. Early investors tired of waiting for a payout are selling shares too.

While this secondary market was hit by Facebook’s chaotic listing in 2012, it has recently made a comeback.

A $13 billion price tag would value Spotify, the world’s biggest music streaming company with more than 140 million active users, at around four times its 2016 sales.

But investors and sector bankers not involved with the company said Netflix’s valuation of seven times expected 2017 sales was a more appropriate benchmark, supporting speculation of a price tag of at least $20 billion around listing.

Spotify is aiming to file its intention to float with U.S. regulators towards the end of this year in order to list in the first or second quarter next year, one of the sources said.

MARKET LEADER

An investor survey led by technology investment and advisory firm GP Bullhound, which owns shares in Spotify, estimated the company’s valuation could reach $50 billion in a few years.

The investors and venture capitalists polled pointed to Spotify’s position as the “undisputed market leader” in music streaming, and to rapid growth in its paying users from 5 million in 2012 to over 60 million today.

While its net losses doubled last year to $600 million, a more than 50 percent increase in revenues to $3.4 billion has raised hopes it is on the right track to make money.

A bumper equity valuation would give Spotify a currency to help meet the challenge from rivals such as Apple Music and Amazon Music, and potentially fund an expansion into adjacent businesses, such as video, or geographies it has yet to reach.

That could be vital, as Spotify does not have the large, profitable devices and retail businesses that its rivals can respectively draw on for support.

A high market valuation would also bolster Spotify’s position in licensing negotiations with major music labels on which its business model depends.

The trade-off, though, is that it piles the pressure on management to deliver results, and raises the specter of Twitter and Snap – two once white-hot internet players that have disappointed investors as public companies. Snap has lost nearly a quarter of its value since its flotation in March.

“It’s hard to speculate on Spotify’s valuation since we only have historic results prior to the most recent renegotiation with the music majors,” said Louis Citroen, an analyst at Arete Research.

“But a $20 billion valuation sounds punchy as it implies both that Spotify can continue growing customers at a fast pace, and that it might achieve a double-digit margin. We can believe in the customer growth, but are less sure about profitability given high royalty costs and limited differentiation with rivals on content, price or technology”.

PAVING THE WAY

Spotify is pursuing a so-called direct listing on the New York Stock Exchange (NYSE), allowing existing investors to sell shares without raising money from new ones, sources have previously told Reuters. The move is also aimed at saving hundreds of millions of underwriting fees from investment banks.

A successful listing could pave the way for others, with France-based rival Deezer saying it could consider going public if Spotify is well received.

Vivendi’s Universal Music Group, the world’s largest recording label, is also considering a listing.

Worldwide, music streaming revenue leapt 60.4 percent in 2016, lifting recorded music sales for the second consecutive year after 15 years of decline during which revenue dropped by nearly 40 percent, according to data compiled by the International Federation of the Phonographic Industry.

(Editing by Mark Potter)

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Britain warns Boeing it might lose business over Bombardier row

A model of Bombardier C Series aeroplane is seen in the Bombardier offices in Belfast, Northern Ireland September 26, 2017. REUTERS/Clodagh Kilcoyne

September 27, 2017

By Amanda Ferguson and Estelle Shirbon

BELFAST/LONDON (Reuters) – Britain told U.S. planemaker Boeing on Wednesday that it could lose out on British defence contracts because of its dispute with Canadian rival Bombardier which has put 4,200 jobs at risk in Northern Ireland.

The U.S. Department of Commerce on Tuesday imposed a 220-percent duty on Bombardier’s <BBDb.TO> CSeries jets, whose wings are made at a plant in Belfast, following a complaint by Boeing <BA.N> which accuses Canada of unfairly subsidizing Bombardier.

The ruling is a political headache for Britain’s minority Conservative government, which relies on support from a Northern Irish party to stay in power.

It also undermines the government’s assurances to Britons that free trade and London’s close ties with Washington will be pillars of Britain’s prosperity and global influence after it leaves the European Union in 2019.

“This is not the behavior we expect from Boeing and it could indeed jeopardize our future relationship with them,” British Defence Secretary Michael Fallon told reporters in Belfast.

“Boeing has significant defence contracts with us and still expects to win further contracts. Boeing wants and we want a long-term partnership but that has to be two-way.”

Boeing says it employs 2,200 people in the United Kingdom, which is one of the company’s biggest defence clients.

“Bitterly disappointed by initial Bombardier ruling,” said British Prime Minister Theresa May, who had personally asked U.S. President Donald Trump to help resolve the dispute.

“The government will continue to work with the company to protect vital jobs for Northern Ireland,” she said on Twitter.

“DOES NOT BODE WELL” FOR BREXIT

Bombardier is the largest manufacturing employer in Northern Ireland, which is the poorest of the United Kingdom’s four parts and is mired in political difficulties after emerging from decades of armed sectarian conflict.

The U.S. penalty will only take effect if the U.S. International Trade Commission (ITC) rules in Boeing’s favor. A final decision is expected early in 2018.

British Business Secretary Greg Clark said he was confident the initial Department of Commerce ruling would be overturned.

“What needs to happen now by the trade commission is that they look to see whether there has been any detriment to Boeing,” he told Sky News.

“There hasn’t been because this aircraft does not compete with Boeing so we’re confident that we will be able to demonstrate that and have this case dismissed.”

Given the importance of Northern Ireland’s Democratic Unionist Party (DUP) to May’s own position as prime minister, mass job losses at the Belfast factory would be particularly sensitive.

The setback has come at a bad time for May, who was severely weakened by her party’s poor showing in an election in June and who has been struggling to contain infighting within her top team over Brexit.

Manufacturing Northern Ireland, an industry group, said the row was an ominous sign of the difficulties Britain could face after Brexit.

“What we could be witnessing is the fundamental difference between being a fully-fledged member of an internal market and a junior partner in a free trade agreement,” it said.

“This does not bode well for the UK’s plan to be a leader in global free trade nor indeed ambitions of a free trade agreement with the EU which cannot match the benefit we currently enjoy as part of the EU’s Single Market.”

“SABRE-RATTLING”

Arlene Foster, the DUP leader, signaled she would put pressure on May to act.

“Everyone realizes how important Bombardier is to Northern Ireland and we will use our influence with our government to make sure that continues,” she said on Sky News.

However, London’s options in fighting Bombardier’s corner may be limited because of the importance of Boeing to its defence industry.

Boeing says the United Kingdom is its third largest supply base after the United States and Japan. It has recently begun constructing its first European parts manufacturing site in Sheffield, northern England.

Britain recently ordered the Boeing P-8 maritime surveillance plane and a new fleet of Apache attack helicopters made by the U.S. giant. Its armed forces have deployed Chinook helicopters, the C-17 transport plane and the E-3 Sentry airborne early warning and command post.

British defence analyst Howard Wheeldon said it was unlikely that Britain would pursue any reprisals against Boeing.

“I think there is a lot of sabre-rattling, but in practical terms it is not on,” he said when asked whether Britain could cancel or reduce Boeing defence orders.

“They can play politics, but can’t actually walk away from what they need and have committed to buying from Boeing.”

(Additional reporting by Tim Hepher and Conor Humphries in Belfast, Padraic Halpin in Dublin, Guy Faulconbridge, Kate Holton and Michael Holden in London; Writing by Estelle Shirbon; Editing by John Stonestreet and Angus MacSwan)

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Euro slips to one-month lows on resurgent dollar

U.S. Dollar and Euro notes are seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration

September 27, 2017

By Saikat Chatterjee

LONDON (Reuters) – The euro hit a fresh one-month low on Wednesday as an ongoing dollar short squeeze and reaction to the German election encouraged investors to take profits on one of the best performing currency trades this year.

Having gained more than 14 percent this year, the single currency has given back nearly 3 percent since hitting a January 2015 peak of $1.2092 earlier this month as investors rapidly repriced expectations of a U.S. rate increase in the coming days.

Futures markets have increased the likelihood of a U.S. rate rise by December to as much as 70 percent, compared to less than 20 percent only a month ago, and overnight hawkish comments by Fed Chair Janet Yellen have only boosted those bets.

“The divergence between U.S. and euro zone data surprises is closing rapidly and while the once popular dollar parity forecasts still look ridiculous, the euro looks past its peak,” said Sean Maher, an independent macro-strategist based in London.

The euro slipped 0.4 percent to $1.1747 in early trades, its lowest level since Aug. 23. It has fallen more than 1.5 percent this week against a resurgent greenback.

The euro weakened against other currencies as well, hitting a 10-week low against the British pound and a two-week low of 1.14075 Swiss franc.

“It isn’t realistic to expect EUR/USD 1.10 to be revisited any time soon but a further correction seems likely, closing some of the (clearly visible) gap in recent trends in rates and currency,” said Kit Juckes, an FX strategist at Societe Generale in London.

Investor sentiment toward the euro was dented by the rise of a far-right party and the decline of traditional parties in Sunday’s German election, which has left Chancellor Angela Merkel struggling to form a coalition government.

Tensions are also rising in Catalonia, as Spain’s government said on Tuesday that police would take control of voting booths in Catalonia to help thwart the region’s planned independence referendum that Madrid has declared illegal.

A big focus for currency markets on Wednesday will be the announcement of a tax plan by the U.S. administration and Republicans in Congress.

The plan has been developed over several months by six White House and congressional Republicans working behind closed doors. President Donald Trump told U.S. lawmakers on Tuesday he wants bipartisan cooperation on tax reform.

(Reporting by Saikat Chatterjee; Additional reporting by Hideyuki Sano in TOKYO; Editing by Susan Fenton)

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Trump urges NFL to ban players kneeling during anthem

U.S. President Donald Trump speaks before signing a memorandum “Increasing Access to High-Quality Science, Technology, Engineering and Math (STEM) Education” in the Oval Office of the White House in Washington, U.S., September 25, 2017. REUTERS/Joshua Roberts

September 27, 2017

(Reuters) – U.S. President Donald Trump ramped up his fight with the National Football League on Tuesday, calling on the league to ban players from kneeling in protest at games while the national anthem is played.

“The NFL has all sorts of rules and regulations. The only way out for them is to set a rule that you can’t kneel during our National Anthem!” Trump wrote on Twitter.

For the fifth straight day the president denounced the symbolic gesture, which has been adopted by some black players in the last year to protest against racial disparities in the criminal justice system.

An NFL spokesman did not respond to requests for comment.

Trump praised two teams that played on Monday night and largely steered clear of the controversy. The Arizona Cardinals linked arms and stood for the “Star-Spangled Banner” along with the Dallas Cowboys, who knelt before the song.

Last Friday, Trump told a political rally any protesting player was a “son of a bitch” who should be fired, and urged a boycott of NFL games, triggering protests by dozens of players, coaches and some owners before Sunday’s games.

Trump’s verbal assault may appeal to his conservative base as the Republican president grapples with critical issues including North Korea’s nuclear threats, a humanitarian crisis in hurricane-struck Puerto Rico, an investigation into Russian meddling in the 2016 election and the healthcare struggle in Congress.

Paul Ryan, the most senior Republican in the U.S. House of Representatives, said he also disapproved of the gesture.

“People are clearly within their rights to express themselves how they see fit,” he told reporters. “My own view though is that we shouldn’t do it on the anthem.”

U.S. Attorney General Jeff Session told an audience at Washington’s Georgetown Law School that the protesting athletes were wrong.

“The players aren’t subject to any prosecution, but if they take a provocative act, they can expect to be condemned,” he said.

Hillary Clinton, Trump’s Democratic rival in the 2016 election, called Trump’s comments “a huge, loud dog whistle to his supporters” in an interview with CBS.

Former San Francisco 49ers quarterback Colin Kaepernick first kneeled during the anthem last year to protest police shootings of unarmed black men.

His former teammate Eric Reid wrote in a New York Times opinion article that he and Kaepernick chose to kneel as a “respectful” gesture, comparing it to “a flag flown at half-mast to mark a tragedy.”

(Reporting by Susan Heavey and Makini Brice in Washington and Jonathan Allen in New York; Editing by Jeffrey Benkoe and Jonathan Oatis)

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Mexico eyes record IPOs before election season slowdown: sources

A screen displays foreign exchange outside Mexico’s stock exchange building in Mexico City, Mexico November 18, 2016. REUTERS/Henry Romero

September 26, 2017

By Sheky Espejo

MEXICO CITY (Reuters) – As many as 10 companies could list on Mexico’s stock exchange by the end of 2017, sources from the exchange said, potentially marking a record year ahead of slower expected activity in 2018 due to Mexico’s elections.

Since January, four companies have listed in Mexico, raising a combined $2.1 billion in initial public offerings (IPOs).

In addition, Sigma Alimentos, a unit of industrial conglomerate Grupo Alfa <ALFAA.MX>, and Traxion, a transportation company controlled by private equity funds Nexxus and Discovery Americas, this week confirmed their IPOs.

In October, Banco Mifel is expected to launch its IPO, as is the transportation subsidiary of Mexican miner Grupo Mexico <GMEXICOB.MX>.

Two more companies are considering IPOs, said one of the two sources, who declined to be named citing confidentiality.

In 2013, a record year, Mexico added nine new companies to its bourse.

“A committee within the Mexican stock exchange is created for each new listing, and we’ve never had as many committees as we have this year,” said one source.

The pace of IPOs in Mexico typically slows during an election year, and some investors are especially wary of the current front-runner for next July’s presidential contest, leftist hopeful Andres Manuel Lopez Obrador.

The four new listings named above have not been affected by the massive earthquake that struck Mexico City on Sept. 19 and killed more than 330 people, market sources involved in the transactions said.

Sigma aims to raise about 18.5 billion pesos ($1.03 billion) while Traxion expects around 4.32 billion pesos.

If all the planned IPOs take place, Mexico could also break its 2012 record amount raised, which according to consultancy firm Dealogic stood at $6.8 billion, mostly driven by the $4 billion listing in 2012 of Spanish bank Santander <SANMEXB.MX>.

Tequila maker Jose Cuervo <CUERVO.MX> raised $900 million, Mexican energy investment firm Vista Oil & Gas <VISTAA.MX> raised $650 million, Banco del Bajio <BBAJIOO.MX> raised $482 million, and Mexican real estate investment trust (REIT) Fibra Nova <FNOVA17.MX> raised $68 million.

Juan Manuel Olivo, head of promotion and issuers for the Mexican stock exchange, said the IPO spike this year is primarily due to stable economic conditions, new business opportunities that require capital and attractive valuations.

He said the Mexican stock exchange has also stepped up efforts to better inform companies of their financing options, which also include issuing debt and new real estate investment trusts known locally as Fibras.

“In the last 18 months, more (financing) instruments have been created that in the previous 10 years,” said Olivo.

($1 = 17.9540 Mexican pesos)

(Reporting by Skeky Espejo; Writing by David Alire Garcia; Editing by Lisa Shumaker)

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SEC chair grilled by Senate panel over cyber breach, Equifax

Jay Clayton, Chairman of the Securities and Exchange Commission, testifies at a Senate Banking hearing on Capitol Hill in Washington, U.S. September 26, 2017. REUTERS/Aaron P. Bernstein

September 26, 2017

By Michelle Price and Pete Schroeder

WASHINGTON (Reuters) – The chairman of the U.S. Securities and Exchange Commission (SEC) told a congressional committee on Tuesday he did not believe his predecessor Mary Jo White knew of a 2016 cyber breach to the regulator’s corporate disclosure system, the exact timing of which could not be known “for sure.”

Jay Clayton, who was formally appointed to his role in May, also said listed companies should disclose more detailed information on cyber breaches “sooner,” and that the U.S. regulator was working on new guidelines to ensure this.

The Senate Banking Committee grilled Clayton on Tuesday over a 2016 hack of EDGAR, the agency’s online corporate financial disclosure system, only disclosed last Wednesday, which has shaken confidence in the SEC’s cyber defenses.

Clayton said he had decided last weekend to disclose the breach once he had enough information to establish it was “serious,” but he would not be drawn on who at the agency had known about it and whether there was an attempt to cover it up.

“I have no belief sitting here that Chair White knew,” Clayton said when asked whether his predecessor had been aware of the hack, adding: “I don’t think we can know for sure” on the exact timing of the breach.

Clayton fielded several questions from senators on the recent Equifax Inc <EFX.N> data breach in which hackers stole personal data of about 143 million customers of the credit reporting firm, including on the timing of the company’s disclosure.

Although the former Wall Street lawyer declined to comment on whether the SEC was investigating stock sales made by Equifax executives prior to the disclosure, he said he was “not ignoring” the issue.

The hearing, which had been scheduled prior to the disclosure of the SEC’s breach, offered lawmakers, companies and investors the first opportunity to hear from the SEC chief on the incident.

Clayton originally had been scheduled to discuss capital market reform at his first hearing before the committee since being formally appointed in May, but his pro-growth agenda was largely eclipsed by the SEC breach and the Equifax scandal.

Wall Street’s top regulator came under fire last week after disclosing that hackers might have used information stolen from EDGAR, which houses millions of market-sensitive corporate disclosures such as earnings releases, for insider trading.

“When we learn a year after the fact that the SEC had its own breach and that it likely led to illegal stock trades, it raises questions about why the SEC seems to have swept this under the rug,” Senator Sherrod Brown, the ranking Democratic member of the committee, asked Clayton during opening remarks.

“What else are we not being told, what other information is at risk, and what are the consequences?” Brown asked. “How can you expect companies to do the right thing when your agency has not?”

CYBER DEFENSES EYED

Reuters reported on Monday that the Federal Bureau of Investigation and the U.S. Secret Service have launched investigations into the breach, which occurred in October 2016 and appeared to have been routed through servers in Eastern Europe. The breach appeared to have been one of several cyber incidents documented by the SEC in recent months, Reuters reported.

Clayton said he only learned about the 2016 hack in August and that the SEC’s enforcement staff and inspector general’s office have launched internal probes.

The regulator reported the breach to the Department of Homeland Security’s Computer Emergency Readiness Team when it was first discovered, Clayton said in the testimony, adding the regulator plans to hire more cyber security experts.

Clayton said the hack was possibly the result of a defect in the EDGAR software and said that personally identifiable information did not appear to have been put at risk, but he declined to provide further detail.

He said the SEC was still determining the extent and impact of the breach and that it could take “substantial time” to complete due to the amount of data that needed to be analyzed.

The committee also quizzed Clayton about other potential breaches at the agency and the regulator’s general cyber defenses.

Clayton said he could not say with “100 percent certainty” that the EDGAR breach was the only one suffered by the agency, and added that he planned to ask Congress for more funds to tackle the rising cyber threat.

“We’re going to need more money for cyber security, and I intend to ask for it.”

(Reporting by Michelle Price and Pete Schroeder; editing by Leslie Adler and G Crosse)

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Turkey threatens retaliation after Iraqi Kurdish independence vote

Kurds celebrate to show their support for the independence referendum in Erbil, Iraq September 25, 2017. REUTERS/Ahmed Jadallah

September 26, 2017

By Maher Chmaytelli

ERBIL, Iraq (Reuters) – The Iraqi government ruled out talks on possible secession for Kurdish-held northern Iraq on Tuesday and Turkey threatened to choke it off, after a referendum on independence there showed strong support for a split.

Initial results of Monday’s vote indicated 72 percent of eligible voters had taken part and an overwhelming majority, possibly over 90 percent, had said “yes”, Erbil based Rudaw TV said. Final results are expected by Wednesday.

Celebrations continued until the early hours of Tuesday in Erbil, capital of the Kurdish region, which was lit by fireworks and adorned with Kurdish red-white-green flags. People danced in the squares as convoys of cars drove around honking their horns.

In ethnically-mixed Kirkuk, where Arabs and Turkmen opposed the vote, local Kurdish-led authorities lifted an overnight curfew imposed to maintain control.

The referendum has fueled fears of a new regional conflict; on Tuesday Turkey, which has fought a Kurdish insurgency within its borders for decades, reiterated threats of economic and military retaliation.

Kurdistan Regional Government (KRG) President Masoud Barzani says the vote is not binding, but meant to provide a mandate for negotiations with Baghdad and neighboring countries over the peaceful secession of the region from Iraq.

But Iraq’s opposition to Kurdish independence did not waver.

“We are not ready to discuss or have a dialogue about the results of the referendum because it is unconstitutional,” Iraqi Prime Minister Haider al-Abadi said in a speech on Monday night.

The Kurds held the vote despite threats to block it from Baghdad, Iraq’s powerful eastern neighbor Iran, and Turkey, the region’s main link to the outside world.

“This referendum decision, which has been taken without any consultation, is treachery,” Turkish President Tayyip Erdogan said, repeating threats to cut off the pipeline that carries hundreds of thousands of barrels of oil a day from northern Iraq to global markets.

Oslo-based broker Sparebank 1 Markets said oil companies could sell some oil locally if exports were blocked but their revenues would take a hit.

Iraqi Kurds – part of the largest ethnic group left stateless when the Ottoman empire collapsed a century ago – say the referendum acknowledges their contribution in confronting Islamic State after it overwhelmed the Iraqi army in 2014 and seized control of a third of Iraq.

Voters were asked to say ‘yes’ or ‘no’ to the question: “Do you want the Kurdistan Region and Kurdistani areas outside the (Kurdistan) Region to become an independent country?”

With 30 million ethnic Kurds scattered across the region, mainly in Iraq, Iran, Turkey and Syria, governments fear the spread of separatism to their own Kurdish populations.

Iraqi soldiers joined Turkish troops for military exercises in southeast Turkey on Tuesday near the border with Iraq’s Kurdistan region.

Turkey also took the Rudaw TV channel off its satellite service TurkSat, a Turkish broadcasting official told Reuters.

The U.S. State Department said it was “deeply disappointed” by the KRG’s decision to conduct the referendum but added that Washington’s “historic relationship” with the people of the Iraqi Kurdistan Region would not change.

Asked about the referendum, White House spokeswoman Sarah Sanders said on Monday: “We hope for a unified Iraq to annihilate ISIS (Islamic State) and certainly a unified Iraq to push back on Iran.”

Iran announced a ban on direct flights to and from Kurdistan on Sunday, while Baghdad asked foreign countries to stop direct oil trading with the Kurdish region and demanded that the KRG hand over control of its international airports and border posts with Iran, Turkey and Syria.

Iranian Major General Yahya Rahim Safavi, a top military adviser to the Supreme Leader, called on “the four neighboring countries to block land borders” with the Iraqi Kurdish region, according to state news agency IRNA.

Tehran supports Shi’ite Muslim groups that have ruled or held security and government positions in Iraq since the U.S.-led invasion that toppled Saddam Hussein in 2003.

Syria, embroiled in a devastating civil war and whose Kurds are pressing ahead with their own self-determination, rejected the referendum.

KRG Prime Minister Nechirvan Barzani said he hoped to maintain good relations with Turkey. “The referendum does not mean independence will happen tomorrow, nor are we redrawing borders,” he said in Erbil on Monday. “If the ‘yes’ vote wins, we will resolve our issues with Baghdad peacefully.”

British Foreign Secretary Boris Johnson reiterated London’s opposition to the vote, urging “all sides to refrain from provocative statements and actions in its aftermath.

“The priority must remain the defeat of Daesh and returning stability to liberated areas,” he added, a reference to Islamic State militants who continue to control parts of Iraq and Syria, including a pocket west of Kirkuk.

(Editing by Philippa Fletcher; Additional reporting by Ece Toksabay in ANKARA and Umit Bektas in HABUR, Turkey and Gwadys Fouche in OSLO)

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