TWITTER ‘ Revenue on Tweeting Tweets by TwitterIR ‘

fD89GawL_normal.png TwitterIR (@TwitterIR)
28/07/2015 21:16
Q2’15 rev: $502M; adj. EBITDA: $120M; non-GAAP net income: $49M. Key info: files.shareholder.com/downloads/AMDA… #TWTRearnings $TWTR pic.twitter.com/L1t8IYge0g

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@thehill ‘ Pelosi pushes for $15-minimum wage @AceNewsServices

#AceFinanceNews – WASHINGTON:July.28: House Minority Leader Nancy Pelosi (D-Calif.) on Tuesday endorsed a $15 minimum wage, joining a growing chorus of liberals on and off Capitol Hill pushing to more than double the current $7.25 rate.

“Twelve dollars may be what can pass, but I’m for $15 per hour,” Pelosi said as she headed into the weekly Democratic Caucus meeting in the Capitol, according to her office.

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#capitol-hill, #democratic-caucus, #minimum-wage, #nancy-pelosi, #pelosi

CAIRO: ‘ Egypt to pay $1.1-billion to purchase 4-Naval Corvettes from France ‘

#AceFinanceReport – CAIRO:Egypt will buy four naval corvettes from France for one billion Euros ($1.1 billion), an anonymous French official told AFP Saturday.

In 2014, the French shipbuilder DCNS has signed contracts with Egypt to sell the four Gowind-class corvettes, the official added.

President Abdel Fatah al-Sisi met Saturday with French Minister of Defense Jean-Yves Le Drian and discussed bilateral relations and …

Read more.

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#abdel-fatah-al-sisi, #corvettes, #egypt, #france, #jean-yves-le-drian

German ‘Wisemen’ Say Euro Zone States Should Be Able To Go Bankrupt

#AceFinanceNews – July.28: BERLIN (Reuters) – The German government’s panel of independent economic advisers favors the creation of a sovereign insolvency mechanism for euro zone states to prevent future crises and says countries should be able to leave the currency bloc as a last resort. In a special report published on Tuesday, the council of five experts known as the “wisemen”, said the Greek debt crisis had underscored the urgent need for further reforms to make the euro zone more stable.

Original Article: http://www.ibtimes.com/german-wisemen-say-euro-zone-states-should-be-able-go-bankrupt-2027151

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Article: China’s stock market remains jittery after greatest losses since 2007

#AceFinanceNews – July.28: China’s stock market remains jittery after greatest losses since 2007:

http://www.theguardian.com/business/2015/jul/28/beijing-prop-up-china-stock-market-losses

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Oil price and Gulf of Mexico spill causes BP to miss second-quarter profit forecast on spill charge

#AceFinanceNews – July.28: Lower oil price and Gulf of Mexico spill still haunt profitability of BP.

As LONDON (Reuters) reports today that BP’s second-quarter profits missed expectations on Tuesday after the British oil and gas company took a $9.8 billion (6.30 billion pounds) pretax charge related to a settlement of the 2010 Gulf of Mexico spill.

The company also lowered its expected full-year organic capital spending to below $20 billion after cutting it by 13 percent earlier this year as the industry continues to grapple with low oil prices.

BP maintained its dividend at 10 cents per ordinary share.

BP’s underlying replacement cost profit, the company’s definition of net income, was $1.3 billion, lower than analysts expectations of $1.64 billion.

This month, BP reached an $18.7 billion settlement with the U.S. government and five states to resolve most claims from the deadly Gulf of Mexico oil spill five years ago in the largest corporate settlement in U.S. history.

The April 20, 2010, rig explosion and spill killed 11 workers and spewed oil for nearly three months on to the shorelines of several states.

Oil prices averaged $60 a barrel in the second quarter, up around $5 a barrel from the first quarter but down from $110 a year earlier.

In a repeat of first-quarter trends, BP’s refining and trading division, known as downstream, performed strongly while production delivered weak results amid falling oil prices.

Downstream generated $1.63 billion in replacement cost profit for BP, up from $933 million a year earlier but down from an exceptionally strong $2.08 billion in the first quarter.

For the third quarter, BP said it expected “reduced refining margins and lower levels of turnaround activity. ”

BP’s upstream operations delivered a replacement cost profit of just $228 million versus $4.05 billion a year earlier and $372 million in the first quarter.

BP’s global refining margin benchmark rose in the second quarter to $19.4 a barrel from $15.55 a year earlier and from $15.3 in the first quarter.

As a rule of thumb, each $1 in refining margins equates to around $500 million in BP’s pretax replacement cost operating profit, according to the company.

“Our work to increase efficiency and reduce costs is embedding sustainable benefits throughout the Group and we continue with capital discipline and divestments,” Chief Executive Officer Bob Dudley said in a statement.

BP said that besides the U.S. settlement the second-quarter result reflected the impact of continued low oil and gas prices, a reduced contribution from Russia’s Rosneft, and one-off charges arising from unrest in Libya.

Also on Tuesday, Norwegian oil major Statoil posted higher-than-forecast earnings while lowering its capital spending outlook for the year.

(Reporting by Ron Bousso and Dmitry Zhdannikov; editing by Jason Neely)

BP misses second-quarter profit forecast on spill charge

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Oil price and Gulf of Mexico spill causes BP to miss second-quarter profit forecast on spill charge

#AceFinanceNews – July.28: Lower oil price and Gulf of Mexico spill still haunt profitability of BP.

As LONDON (Reuters) reports today that BP’s second-quarter profits missed expectations on Tuesday after the British oil and gas company took a $9.8 billion (6.30 billion pounds) pretax charge related to a settlement of the 2010 Gulf of Mexico spill.

The company also lowered its expected full-year organic capital spending to below $20 billion after cutting it by 13 percent earlier this year as the industry continues to grapple with low oil prices.

BP maintained its dividend at 10 cents per ordinary share.

BP’s underlying replacement cost profit, the company’s definition of net income, was $1.3 billion, lower than analysts expectations of $1.64 billion.

This month, BP reached an $18.7 billion settlement with the U.S. government and five states to resolve most claims from the deadly Gulf of Mexico oil spill five years ago in the largest corporate settlement in U.S. history.

The April 20, 2010, rig explosion and spill killed 11 workers and spewed oil for nearly three months on to the shorelines of several states.

Oil prices averaged $60 a barrel in the second quarter, up around $5 a barrel from the first quarter but down from $110 a year earlier.

In a repeat of first-quarter trends, BP’s refining and trading division, known as downstream, performed strongly while production delivered weak results amid falling oil prices.

Downstream generated $1.63 billion in replacement cost profit for BP, up from $933 million a year earlier but down from an exceptionally strong $2.08 billion in the first quarter.

For the third quarter, BP said it expected “reduced refining margins and lower levels of turnaround activity. ”

BP’s upstream operations delivered a replacement cost profit of just $228 million versus $4.05 billion a year earlier and $372 million in the first quarter.

BP’s global refining margin benchmark rose in the second quarter to $19.4 a barrel from $15.55 a year earlier and from $15.3 in the first quarter.

As a rule of thumb, each $1 in refining margins equates to around $500 million in BP’s pretax replacement cost operating profit, according to the company.

“Our work to increase efficiency and reduce costs is embedding sustainable benefits throughout the Group and we continue with capital discipline and divestments,” Chief Executive Officer Bob Dudley said in a statement.

BP said that besides the U.S. settlement the second-quarter result reflected the impact of continued low oil and gas prices, a reduced contribution from Russia’s Rosneft, and one-off charges arising from unrest in Libya.

Also on Tuesday, Norwegian oil major Statoil posted higher-than-forecast earnings while lowering its capital spending outlook for the year.

(Reporting by Ron Bousso and Dmitry Zhdannikov; editing by Jason Neely)

BP misses second-quarter profit forecast on spill charge

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BRITAIN: Ofcom says Royal Mail price changes breach competition law

#AceFinanceNews – July.28: The recent privatisation of Royal Mail under the sell off to institutional investors, falls foul of competition law.

According to LONDON (Reuters): Britain’s postal regulator Ofcom said Royal Mail has breached competition law by proposing wholesale prices that were designed to be more expensive for any firm looking to run a rival mail delivery service.

The dispute is the latest in a line of headaches for Royal Mail. Last month Ofcom announced it would also review the regulation of Royal Mail, while it faces declining volumes in its letters business and slower than expected growth in parcels.

Shares in the firm fell 2.9 percent in early trade, the biggest fall on the FTSE 100 Index.

The price changes for bulk mail delivery services, whereby other postal firms pass letters collected from large businesses to Royal Mail for sorting and delivery, were set out in January 2014, but claimed to be anti-competitive by Whistl — a company looking to rival Royal Mail by delivering some mail itself.

The price changes were never implemented after being suspended following Whistl’s complaint and later withdrawn. Whistl, owned by Dutch-based PostNL, has since ended plans to launch a delivery network after funding issues.

Ofcom said on Tuesday it was of the view that the price changes included unlawful price discrimination, whereby higher amounts would have been charged to customers that competed with Royal Mail in delivery than to those that did not, thereby posing a deterrent to competition.

Ofcom said its initial view had been sent to Royal Mail in a statement of objections and that the postal firm could now make representations to it before it takes a final decision.

The regulator has the power to fine Royal Mail up to 10 percent of its 9.4 billion pound ($14.62 billion) group revenue.

Royal Mail said the pricing changes were fully compliant with competition law and that it would submit a robust defence to Ofcom in due course.

Ofcom said in June it would review the regulation of Royal Mail after the recent withdrawal of rival Whistl from the direct delivery letter market left it with no national competition.

(Editing by Louise Heavens)

Ofcom says Royal Mail price changes breach competition law

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MARKETS: China shares slip again as Beijing scrambles to calm markets

#AceMarketsNews – July.28: Chinese shares fell on Tuesday, as Beijing scrambled once again to prop up a stock market whose wild gyrations have heightened fears about the financial stability of the world’s second biggest economy.

China shares slip again as Beijing scrambles to calm markets

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LONDON: Britain’s FTSE falls, lead lower by Pearson and Merlin Entertainments

#AceMarketsNews – LONDON (Reuters) July.28: Britain’s top share index edged lower on Monday after falls in Merlin Entertainments and Pearson and ahead of GDP data due later in the week, but outperformed broader European equities as battered miners staged a rebound.

Britain’s FTSE falls, lead lower by Pearson and Merlin Entertainments

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