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Showing posts from January 21, 2019

London School of Economics Professor Keyu Jin on the state of China's economy.

London School of Economics Professor on China's economy: The trade war has come as a benefit in... London School of Economics Professor Keyu Jin on the state of China's economy. Other stories about: London School of Economics Professor on China's economy: The trade war has come as a benefit in...

Bridgewater Associates founder Ray Dalio on global economic backdrop for the markets.

Ray Dalio: We look at China, Europe, US, we will be in a slowing economic environment Bridgewater Associates founder Ray Dalio on global economic backdrop for the markets. Other stories about: Ray Dalio: We look at China, Europe, US, we will be in a slowing economic environment

Far East Leasing 2019-1 Asset Backed Notes Trust Assigned Preliminary Ratings

HONG KONG (S&P Global Ratings) Jan. 22, 2019--S&P Global Ratings today assigned its preliminary ratings to the asset-backed notes to be issued by China Resources SZITIC Trust Co. Ltd. as trustee of Far East Leasing 2019-1 Asset Backed Notes Trust (see list). This is the first equipment lease receivables securitization transaction originated by the Far East Horizon Corp. Ltd. (FEH) group rated by us. It is originated by FEH group under the names of its subsidiaries, International Far Eastern Leasing Co. Ltd. and Far East Horizon (Tianjin) Financial Leasing Co. Ltd. (together the originators), which also act as the servicers. The preliminary ratings reflect the following factors: The credit risk associated with the underlying lease receivables and the credit support available, which is commensurate with our view of credit risk under an 'A' rating stress for the class A1 and A2 notes. Our assessment of credit risk takes into account the originators' und

Studio City Co. Ltd. 'BB-' Rating Affirmed; Proposed Senior Unsecured Notes Rated 'B+'

Studio City's debt reduction through the recent IPO, diminishes downside risk, though overall debt leverage remains high. Our debt leverage forecast for 2019 could decline if Studio City uses additional equity financing for Studio City Phase II construction. We are affirming our 'BB-' issuer credit rating on Studio City and 'BB-' issue rating on the company's outstanding senior secured notes. We are also assigning our 'B+' issue rating to the company's proposed guaranteed senior unsecured notes. The stable outlook balances Studio City's stable EBITDA growth against the roughly US$1.4 billion of capital expenditures needed to complete Phase II. HONG KONG (S&P Global Ratings) Jan. 22, 2019--S&P Global Ratings today said it has affirmed its 'BB-' issuer credit rating on the Macau-based casino operator, Studio City Co. Ltd. (Studio City). At the same time, we affirmed the 'BB-' issue rating on senior secured n

Suhyup Bank Proposed Drawdown Under Its US$2 Billion MTN Program Assigned 'A' Rating

HONG KONG (S&P Global Ratings) Jan. 22, 2019--S&P Global Ratings today assigned its 'A' long-term issue rating to a proposed issue of U.S. dollar-denominated senior unsecured notes under the US$2 billion medium-term note (MTN) program by Suhyup Bank (A/Stable/A-1). The issue rating is subject to our review of the final issuance documentation. The notes will be direct, general, unconditional, unsubordinated, and unsecured obligations of Suhyup Bank. They will at all times rank pari passu and without any preference among themselves. The bank intends to use the proceeds for general corporate purposes including refinancing of existing foreign currency debt.

Ratings On Investa Office Fund Withdrawn Following Acquisition By Oxford Properties Group

MELBOURNE (S&P Global Ratings) Jan. 22, 2019--S&P Global Ratings said today that it has withdrawn its 'BBB+' issuer credit ratings and issue ratings on Australian REIT, Investa Office Fund (IOF), following the fund's acquisition by Oxford Properties Group and the repayment of all rated debt. At the time of the withdrawal, the ratings were on CreditWatch with developing implications pending the outcome of the acquisition.

Lianyungang Port Group 'BBB-' Rating Affirmed And Removed From CreditWatch; Outlook Stable

We expect Lianyungang Port (LYGP) to become an important member of the provincial port group, like Nanjing Port. Consolidation of ports in Jiangsu has been progressing slower than we expected and timing of completion is still uncertain. On Jan. 22, 2019, S&P Global Ratings affirmed our 'BBB-' long-term issuer credit rating on LYGP and removed it from CreditWatch. The outlook is stable. We also affirmed our 'BBB-' issue rating on the senior unsecured notes due 2020 that LYGP guarantees. Both issuer and issue credit ratings were removed from CreditWatch. The stable outlook reflects our expectation that the provincial port consolidation is likely to progress as planned and that LYGP's overall credit quality will benefit from the stronger parent, pending further details on the transaction. HONG KONG (S&P Global Ratings) Jan. 22, 2019--S&P Global Ratings today affirmed the rating on Lianyungang Port (LYGP) because we believe the company will

FBN’s Kennedy on how Sen. Kamala Harris (D-Calif.) announced that she will run for president in 2020.

Kamala Harris’ candidacy will go down in flames if opponents dig into her past: Kennedy FBN’s Kennedy on how Sen. Kamala Harris (D-Calif.) announced that she will run for president in 2020. Other stories about: Kamala Harris’ candidacy will go down in flames if opponents dig into her past: Kennedy

America First Action PAC senior adviser Sean Spicer on President Trump’s battle with Democrats over border wall funding amid the partial government shutdown and why he believes that the shutdown could last for another two months.

Sean Spicer: The shutdown could last for another two months America First Action PAC senior adviser Sean Spicer on President Trump’s battle with Democrats over border wall funding amid the partial government shutdown and why he believes that the shutdown could last for another two months. Other stories about: Sean Spicer: The shutdown could last for another two months

Rep. Mike Johnson (R-La.) discusses how Republicans are trying to work with Democrats to reopen the government.

Rep. Johnson: We’re working individually with Democrats on immigration reform Rep. Mike Johnson (R-La.) discusses how Republicans are trying to work with Democrats to reopen the government. Other stories about: Rep. Johnson: We’re working individually with Democrats on immigration reform

Anti-Maduro party leader Julio Borges discusses how Venezuela’s Supreme Court disavowed Juan Guaido as leader of the country’s opposition-run congress and the upcoming demonstration on Wednesday.

Anti-Maduro party leader: We are fighting against fear and violence Anti-Maduro party leader Julio Borges discusses how Venezuela’s Supreme Court disavowed Juan Guaido as leader of the country’s opposition-run congress and the upcoming demonstration on Wednesday. Other stories about: Anti-Maduro party leader: We are fighting against fear and violence

Anti-Maduro activist Lilian Tintori discusses the economic problems in Venezuela and her meeting with President Trump.

Activist Lilian Tintori: We need the US to help make Venezuela great again Anti-Maduro activist Lilian Tintori discusses the economic problems in Venezuela and her meeting with President Trump. Other stories about: Activist Lilian Tintori: We need the US to help make Venezuela great again

National Border Patrol Council spokesman Art Del Cueto on the migrant caravans heading toward the U.S. border and why he believes that there is a crisis at the border.

Democrats care more about watching Trump fail than border security: National Border Patrol Council s National Border Patrol Council spokesman Art Del Cueto on the migrant caravans heading toward the U.S. border and why he believes that there is a crisis at the border. Other stories about: Democrats care more about watching Trump fail than border security: National Border Patrol Council s

Center for Security Policy CEO Fred Fleitz discusses China’s economic slowdown and the report that President Trump is expected to have his second summit with North Korean leader Kim Jong Un in Vietnam.

Communist China’s growth rate slowest in nearly 30 years Center for Security Policy CEO Fred Fleitz discusses China’s economic slowdown and the report that President Trump is expected to have his second summit with North Korean leader Kim Jong Un in Vietnam. Other stories about: Communist China’s growth rate slowest in nearly 30 years

Social media stars Diamond & Silk discuss how the special counsel’s office disputed the BuzzFeed report that President Trump directed Michael Cohen to lie to Congress and how House Intelligence Committee Chairman Adam Schiff (D-Calif.) said that he will “absolutely” investigate the report.

Diamond & Silk: We should investigate Adam Schiff Social media stars Diamond & Silk discuss how the special counsel’s office disputed the BuzzFeed report that President Trump directed Michael Cohen to lie to Congress and how House Intelligence Committee Chairman Adam Schiff (D-Calif.) said that he will “absolutely” investigate the report. Other stories about: Diamond & Silk: We should investigate Adam Schiff

“The Next Revolution” host Steve Hilton discusses British Prime Minister Theresa May’s new plan for Brexit and the protests in France.

British PM Theresa May is trying to sell the same Brexit plan: Steve Hilton “The Next Revolution” host Steve Hilton discusses British Prime Minister Theresa May’s new plan for Brexit and the protests in France. Other stories about: British PM Theresa May is trying to sell the same Brexit plan: Steve Hilton

European Parliament member Nigel Farage on how British Prime Minister Theresa May is pushing for a new Brexit deal, after Parliament voted down her first proposal.

Nigel Farage on Brexit: Not to leave the EU would be a massive betrayal of democracy European Parliament member Nigel Farage on how British Prime Minister Theresa May is pushing for a new Brexit deal, after Parliament voted down her first proposal. Other stories about: Nigel Farage on Brexit: Not to leave the EU would be a massive betrayal of democracy

“Bulls & Bears” panel on whether investors should be concerned about airline stocks amid empty seat concerns.

Investors worry the airline industry may not trim capacity enough to be profitable “Bulls & Bears” panel on whether investors should be concerned about airline stocks amid empty seat concerns. Other stories about: Investors worry the airline industry may not trim capacity enough to be profitable

World Central Kitchen Executive Director Nate Mook discusses how his organization is serving free food to government workers who are being affected by the partial government shutdown.

World Central Kitchen serves free food to workers affected by shutdown World Central Kitchen Executive Director Nate Mook discusses how his organization is serving free food to government workers who are being affected by the partial government shutdown. Other stories about: World Central Kitchen serves free food to workers affected by shutdown

NATCA President Paul Rinaldi discusses how a U.S. District Court judge denied the National Air Traffic Controllers Association's request for a temporary restraining order against the U.S. government and how government workers are suffering from the partial government shutdown.

NATCA president on shutdown: Air traffic controllers are choosing between gas and food for kids NATCA President Paul Rinaldi discusses how a U.S. District Court judge denied the National Air Traffic Controllers Association's request for a temporary restraining order against the U.S. government and how government workers are suffering from the partial government shutdown. Other stories about: NATCA president on shutdown: Air traffic controllers are choosing between gas and food for kids

AutoPacific industry analysis vice president Ed Kim and Wall Street Journal auto reporter Tim Higgins discuss whether the automotive sector will cause the next recession and the problems surrounding Tesla.

Auto sales will be on the decline in 2019: Ed Kim AutoPacific industry analysis vice president Ed Kim and Wall Street Journal auto reporter Tim Higgins discuss whether the automotive sector will cause the next recession and the problems surrounding Tesla. Other stories about: Auto sales will be on the decline in 2019: Ed Kim

CFRA analyst Lindsey Bell and Fox Business contributor Gary B. Smith on whether China’s economic slowdown will push them to the negotiating table on trade and British Prime Minister Theresa May’s Brexit plan.

China’s economic growth slows amid trade war with US CFRA analyst Lindsey Bell and Fox Business contributor Gary B. Smith on whether China’s economic slowdown will push them to the negotiating table on trade and British Prime Minister Theresa May’s Brexit plan. Other stories about: China’s economic growth slows amid trade war with US

James Advantage Funds CEO Barry James discusses the state of the U.S. stock market and what defensive stocks investors should add to their portfolios.

Defensive stocks to add to your portfolio James Advantage Funds CEO Barry James discusses the state of the U.S. stock market and what defensive stocks investors should add to their portfolios. Other stories about: Defensive stocks to add to your portfolio

Eckhart CEO Andrew Storm discusses how President Trump’s steel and aluminum tariffs are affecting his company.

Trump's tariffs are putting pressure on us: Eckhart CEO Andrew Storm Eckhart CEO Andrew Storm discusses how President Trump’s steel and aluminum tariffs are affecting his company. Other stories about: Trump's tariffs are putting pressure on us: Eckhart CEO Andrew Storm

B Riley FBR chief global strategist Mark Grant on the state of the U.S. economy, the Federal Reserve’s rate hikes and where investors should allocate their capital.

Is now the time to bet on 5G? B Riley FBR chief global strategist Mark Grant on the state of the U.S. economy, the Federal Reserve’s rate hikes and where investors should allocate their capital. Other stories about: Is now the time to bet on 5G?

Revere Power LLC Debt Assigned Preliminary 'BB-' Rating; Outlook Stable

Newly created Revere Power LLC (Revere) is issuing a seven-year $445 million term loan B, an $86 million term loan C, and a $55 million revolving credit facility to finance its acquisition of three combined cycle gas plants in New England. The three gas plants (Bridgeport, Tiverton, and Rumford) will be purchased from Emera and have a combined nameplate capacity of about 1,143 megawatts. The project has substantial market risk considering that all three plants will sell energy, capacity, and ancillary services on a fully merchant basis because the project lacks both revenue contracts and hedges that some peers use to lock in forward prices. We assigned our preliminary 'BB-' rating and preliminary '2' recovery (rounded estimate: 75%) rating to Revere's term loan B due 2026, term loan C due 2026, and revolving credit facility due 2024. The stable outlook reflects our expectation that the project's capacity factor will remain in line with historical

San Diego Gas & Electric Co. Downgraded To 'BBB+', Outlook Remains Negative

S&P Global Ratings is reexamining its assessment of California's regulatory construct for electric utilities. We lowered our long-term issuer credit rating on San Diego Gas & Electric Co. (SDG&E) and our issue-level rating on its unsecured debt to 'BBB+' from 'A-'. Our ratings and negative outlook on parent Sempra Energy are unchanged. We also revised our assessment of SDG&E's business risk profile to strong from excellent and reassessed its relationship with its parent Sempra Energy. The outlook is negative, reflecting the unique and elevated credit risks that California's electric utilities face because of climate change, their susceptibility to frequent and devastating wildfires, and the legal doctrine of inverse condemnation. We could lower our rating on SDG&E by one or more notches if regulators and/or politicians do not take concrete steps to explicitly address these growing risks before the start of the 2019 wildfir

‘Everyday Millionaires’ author Chris Hogan offers tips for getting rid of debt and building your personal wealth.

The financial traits of millionaires we can all learn from ‘Everyday Millionaires’ author Chris Hogan offers tips for getting rid of debt and building your personal wealth. Other stories about: The financial traits of millionaires we can all learn from

Culturintel and CIEN+ CEO Lili Gil Valletta, former congressman Brad Miller (D-N.C.) and Trump 2020 Advisory Board member Jeff Ballabon discuss President Trump’s proposal to reopen the government and how Democratic leaders are pushing against it.

Democratic leaders reject Trump’s plan to reopen government Culturintel and CIEN+ CEO Lili Gil Valletta, former congressman Brad Miller (D-N.C.) and Trump 2020 Advisory Board member Jeff Ballabon discuss President Trump’s proposal to reopen the government and how Democratic leaders are pushing against it. Other stories about: Democratic leaders reject Trump’s plan to reopen government

TJM Investments Senior Vice President of Derivatives Scott Shellady on investor concerns over China’s economic slowdown and the partial government shutdown.

Investors weigh China growth fears, shutdown impact TJM Investments Senior Vice President of Derivatives Scott Shellady on investor concerns over China’s economic slowdown and the partial government shutdown. Other stories about: Investors weigh China growth fears, shutdown impact

Edison International And Subsidiary Southern California Edison Downgraded To 'BBB'; Ratings Placed On Watch Negative

S&P Global Ratings is reexamining its assessment of California's regulatory construct for electric utilities. We lowered our issuer credit rating on Edison International and its subsidiary Southern California Edison Co. (SCE) to 'BBB' from 'BBB+'. At the same time, we lowered our issue-level rating on Edison's unsecured debt to 'BBB-' from 'BBB', our issue-level rating on SCE's unsecured debt to 'BBB' from 'BBB+', our issue-level rating on SCE's secured debt to 'A-' from 'A', and our rating on SCE's preferred stock to 'BB+' from 'BBB-' and placed all of our ratings on the companies on CreditWatch with negative implications. The CreditWatch negative placement reflects the increased likelihood that Edison will continue to experience catastrophic wildfires because of climate change and without sufficient regulatory protections due to California's common law application

Democratic Strategist Antjuan Seawright and Daily Caller Editorial Director Vince Coglianese on the expanding Democratic field in the 2020 presidential race.

How the crowded 2020 Democratic field impacts Trump’s re-election efforts Democratic Strategist Antjuan Seawright and Daily Caller Editorial Director Vince Coglianese on the expanding Democratic field in the 2020 presidential race. Other stories about: How the crowded 2020 Democratic field impacts Trump’s re-election efforts

File Form 730 and pay the tax on wagers accepted during January.

Due Date:  Thursday,2/28/2019 You must file Form 730 and pay the tax on wagers under Internal Revenue Code section 4401(a) if you: Are in the business of accepting wagers, Conduct a wagering pool or lottery, or Are required to be registered and you received wagers for or on behalf of another person but did not report that person’s name and address. Current Products Form 730

File Form 1096 with information returns, including Forms 1098, 1099 and W-2G for payments made during 2018.

Due Date:  Thursday,2/28/2019 Use Form 1096 to transmit paper Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G to the Internal Revenue Service. Do not use this form to transmit electronically. For electronic submissions, see  Publication 1220 , Specifications for Filing Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically. Current Products Form 1096 General Instructions for Certain Information Returns  (Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G) Recent Developments None at this time. Other Items you may find useful All Form 1096 Revisions About Publication 1141 , General Rules and Specifications for Substitute Forms W-2 and W-3 About Publication 1167 , General Rules and Specifications for Substitute Forms and Schedules About Publication 1179 , General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns About Publication 1220 , Specifications for Filing Forms 1097,1098,

File Form 2290 and pay the tax for vehicles first used in January.

Due Date:  Thursday,2/28/2019 Use Form 2290 to: Figure and pay the tax due on highway motor vehicles used during the period with a taxable gross weight of 55,000 pounds or more; Figure and pay the tax due on a vehicle for which you completed the suspension statement on another Form 2290 if that vehicle later exceeded the mileage use limit during the period; Figure and pay the tax due if, during the period, the taxable gross weight of a vehicle increases and the vehicle falls into a new category; Claim suspension from the tax when a vehicle is expected to be used 5,000 miles or less (7,500 miles or less for agricultural vehicles) during the period; Claim a credit for tax paid on vehicles that were destroyed, stolen, sold, or used 5,000 miles or less (7,500 miles or less for agricultural vehicles); Report acquisition of a used taxable vehicle for which the tax has been suspended; Figure and pay the tax due on a used taxable vehicle acquired and used during the period. Curr

Deposit payroll tax for payments on Feb 20-22 if the semiweekly deposit rule applies.

Due Date:  Wednesday,2/27/2019 Depositing Employment Taxes In general, you must deposit federal income tax withheld, and both the employer and employee social security and Medicare taxes. There are two deposit schedules, monthly and semi-weekly. Before the beginning of each calendar year, you must determine which of the two deposit schedules you are required to use. To determine your payment schedule, review  Publication 15  for Forms 941, 944 and 945, or  Publication 51  for Form 943. If you fail to make a timely deposit, you may be subject to a failure-to-deposit penalty of up to 15 percent. Deposits for FUTA Tax (Form 940) are required for the quarter within which the tax due exceeds $500. The tax must be deposited by the end of the month following the end of the quarter. You  must  use electronic funds transfer ( EFTPS ) to make all federal tax deposits. See the  Employment Tax Due Dates  page for information on when deposits are due. Reporting Employment Taxes Gener

Deposit payroll tax for payments on Feb 16-19 if the semiweekly deposit rule applies.

Due Date:  Friday,2/22/2019 Depositing Employment Taxes In general, you must deposit federal income tax withheld, and both the employer and employee social security and Medicare taxes. There are two deposit schedules, monthly and semi-weekly. Before the beginning of each calendar year, you must determine which of the two deposit schedules you are required to use. To determine your payment schedule, review  Publication 15  for Forms 941, 944 and 945, or  Publication 51  for Form 943. If you fail to make a timely deposit, you may be subject to a failure-to-deposit penalty of up to 15 percent. Deposits for FUTA Tax (Form 940) are required for the quarter within which the tax due exceeds $500. The tax must be deposited by the end of the month following the end of the quarter. You  must  use electronic funds transfer ( EFTPS ) to make all federal tax deposits. See the  Employment Tax Due Dates  page for information on when deposits are due. Reporting Employment Taxes Generall

Deposit payroll tax for payments on Feb 13-15 if the semiweekly deposit rule applies.

Due Date:  Thursday,2/21/2019 Depositing Employment Taxes In general, you must deposit federal income tax withheld, and both the employer and employee social security and Medicare taxes. There are two deposit schedules, monthly and semi-weekly. Before the beginning of each calendar year, you must determine which of the two deposit schedules you are required to use. To determine your payment schedule, review  Publication 15  for Forms 941, 944 and 945, or  Publication 51  for Form 943. If you fail to make a timely deposit, you may be subject to a failure-to-deposit penalty of up to 15 percent. Deposits for FUTA Tax (Form 940) are required for the quarter within which the tax due exceeds $500. The tax must be deposited by the end of the month following the end of the quarter. You  must  use electronic funds transfer ( EFTPS ) to make all federal tax deposits. See the  Employment Tax Due Dates  page for information on when deposits are due. Reporting Employment Taxes Genera