North Korea calls latest U.N. sanctions ‘an act of war’

North Korea called the latest United Nations sanctions against it “an act or war” on Sunday, and vowed to continue to bolster its nuclear arsenal. “We define this ‘sanctions resolution’ rigged by the U.S. and its followers as a grave infringement upon the sovereignty of our republic and as an act of war violating peace and stability in the Korean Peninsula and the region,” North Korea’s foreign ministry said in a statement. “We will further consolidate our self-defensive nuclear deterrence aimed at fundamentally eradicating the U.S. nuclear threats, blackmail and hostile moves by establishing the practical balance of force with the U.S.,” North Korea said. On Friday, the U.N. Security Council voted to ban 90% of crude oil and fuel exports to the rogue nation, and restricted money earned by workers abroad from being sent back to the country. The sanctions came in response to North Korea’s continuing ballistic missile launches and nuclear tests.

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From:: Stock Market News

A Top Producer’s Dream: JP and Associates REALTORS®

By Susanne Dwyer

Paving the Way for Agent Success

For JP Piccinini, devising a concept for the ideal real estate company was easy. A former top-producing agent himself, he just thought about everything he would want from a brokerage firm…then built it himself. Clearly, Piccinini’s vision was on the money, as six short years later, Dallas-based JP and Associates REALTORS® (JPAR) has become home to 1,100 agents in 16 offices throughout Texas, an RISMedia Top 500 Power Broker, an INC5000 company with billions in sales, and expansion beyond state lines in the company’s not-so-distant future. The secret to the firm’s rapid growth? Productivity and service, says Piccinini. Find out more about the culture and mindset that drive the company’s success in this exclusive interview.

Maria Patterson: JP, please begin by telling us how you first got into the real estate business.
JP Piccinini:
I started in real estate in Columbia, S.C., at Russell and Jeffcoat REALTORS®, which was recently bought and rebranded as Coldwell Banker. I had been a project engineer and entered real estate cold turkey at 28 years old. I figured, what the heck—if it fails, I can go back to what I had been doing. But I wound up never looking back. I fell in love with the business. Real estate allowed me to help people, it allowed me to put deals together and it allowed me to run my own business by finally being the master of my own destiny—all the things I had been passionate about as an engineer could play into a real estate career. I wasn’t from Columbia, but I became Rookie of the Year, then the No. 1 agent in the office in year two. Shortly after, I became the No. 1 agent in the market for several years in a row before moving back to Texas.

MP: With that degree of success, why did you switch to the brokerage side?
JP:
I wanted a new challenge. You can say I learned at an early age that I was an entrepreneur at heart. I wanted to grow a company and help fellow agents with their business by seeing them succeed like I did, so I pursued my broker’s license. I also wanted to move my family back to Dallas—I’m from North Texas and went to school there.

In October 2011, instead of buying into a franchise model, I decided to do my own thing and opened JP and Associates REALTORS®. I designed the concept of the company on a barf bag while on an airplane. I put my REALTOR® cap on and thought, if I was to leave, what kind of brokerage would I wish for? What would I look for? I created the company from the viewpoint of a top producer—I drew up a formula that included 100-percent commission, the support of leadership, and all the technology and training that I wanted as an agent. This is how JP and Associates REALTORS® was born. I figured if I could get 20 or so agents, that’s all I would need to …read more

From:: Real Estate News

Portola Pharma stock falls 7% after delay in FDA review

Portola Pharmaceuticals Inc. stock fell 7% in late trading Friday afternoon after the company said a regulatory review of a proposed drug would be extended. The Food and Drug Administration asked Portola for more data on a study of the biologic drug, AndexXa, which will extend the time allowed for the review by 90 days. Portola said that the review period will now end May 4, 2018, instead of Feb. 3. AndexXa is being developed as an antidote for anticoagulant drugs, which can lead to uncontrolled bleeding. Portola shares declined to about $51 in after-hours trading, after closing Friday at $54.86.

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From:: Stock Market News

KLX stock up 9% after company says it is exploring ‘strategic alternatives’

Shares of KLX Inc. rose more than 9% late Friday after the company said it is to explore “strategic alternatives” for its future, which could include a sale, a sale of a division or divisions of the company, a deal, or continuing as a standalone, it said in a statement. KLX, which makes aerospace fasteners and other products, has hired Goldman Sachs as financial adviser. “We remain confident in KLX’s strategic plan and the significant growth opportunities available to us. At the same time, we are open-minded and willing to consider any path that maximizes value for our shareholders,” Chief Executive Amin J. Khoury said. Shares ended the regular trading day down 0.3% and had been halted for part of the late session.

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From:: Stock Market News

Six Flags plans on 11% dividend increase

Six Flags Entertainment Corp. said late Friday its board of directors plans to increase the company’s regular quarterly cash dividend by 11% to 78 cents a share, from 70 cents a share. The increase would be effective in the first quarter, subject to final approval, Six Flags said. “We are pleased to increase our dividend expectations in light of our continued confidence in our strong, recurring cash flow,” Chief Executive Jim Reid-Anderson said. The company’s cash flow “will benefit greatly” from the tax overhaul, he said. Shares of Six Flags were flat in late trading after ending the regular session up 0.3%.

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From:: Stock Market News

KLX stock halted after company says it is exploring ‘strategic alternatives’

Shares of KLX Inc. were halted late Friday after the company said it is to explore “strategic alternatives” for its future, which could include a sale, a sale of a division or divisions of the company, a deal, or continuing as a standalone, it said in a statement. KLX, which makes aerospace fasteners and other products, has hired Goldman Sachs as financial adviser. “We remain confident in KLX’s strategic plan and the significant growth opportunities available to us. At the same time, we are open-minded and willing to consider any path that maximizes value for our shareholders,” Chief Executive Amin J. Khoury said. Shares ended the regular trading day down 0.3%.

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From:: Stock Market News

U.S. stocks close slightly lower, book weekly gains

U.S. stock-market indexes closed slightly lower on Friday, but still finished the week with modest gains. The S&P 500 closed 1.22 points, or less than 0.1%, lower at 2,683.35 but gained 0.3% over the week. The Dow Jones Industrial Average pulled back 27.96 points, or 0.1%, to 24,754.33 but was 0.4% higher for the week. The tech-heavy Nasdaq Composite index slipped 5.40 points, or 0.1%, to 6,959.96, yet booked 0.3% gain over the past week. Among the worst performers on Wall Street, shares of Advanced Micro Devices dropped more than 3% as investors sold companies that are connected to cryptocurrencies in the wake of a double-digit plunge in bitcoin prices.

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From:: Stock Market News

Germany’s BMW earnings to get up to $1.8 billion boost from tax overhaul

German car maker BMW AG said Friday it expects the tax cut signed by President Donald Trump to translate in a “positive impact” on 2017 income taxes, and therefore on group net profit in the U.S. around 950 million to 1.55 billion euro, or the equivalent of $1.1 billion to $1.8 billion at current exchange rates. Competitor Daimler AG earlier Friday saidthe tax overhaul would result in a $2 billion boost to its net income.

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From:: Stock Market News

Mortgage Bankers Lift 2018, 2019 Purchase Forecast

Mortgage bankers have nudged up their expectations for purchase financing during 2018 and 2019. But next year’s outlook for refinance production diminished.

During the final-three months of this year, $415 billion in single-family loan originations — including loans to finance home purchases and refinances — are predicted.

U.S. mortgage production is then expected to drop to $344 billion in the first-quarter 2018 and bounce up to $450 billion three months later.


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From:: Financing

CSX names James Foote as full-time CEO to succeed Hunter Harrison

CSX Corp. said Friday it has named James Foote as chief executive officer, effective immediately. Formerly the railroad operator’s chief operating officer, Foote had been acting CEO since Dec. 14 after Hunter Harrison was placed on medical leave. Harrison died on Dec. 16. The stock was little changed in afternoon trade. It has soared 53% year to date, while the Dow Jones Transportation Average has rallied 18% and the Dow Jones Industrial Average has climbed 25%.

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From:: Stock Market News