Business News

Federated Premier Municipal Income Fund Declares Dividend

PITTSBURGH , Jan. 10, 2019 /PRNewswire/ -- Federated Premier Municipal Income Fund (NYSE: FMN) has declared a dividend. The fund seeks to provide investors with current dividend income that is exempt from regular federal income tax. In addition, this fund features income exempt from the federal alternative minimum tax (AMT). Record Date: Jan. 23, 2019 Ex-Dividend Date: Jan. 22, 2019 Payable Date: Feb. 1, 2019 Tax-Free Dividend Per Share Amount Change From Previous Month $0.054 $ -- Investors can view additional portfolio information in the Products section of . Federated Investors, Inc. (NYSE: FII) is one of the largest investment managers in the United States , managing $437.2 billion in assets as of Sept. 30 , 2018. With 129 funds, as well as a variety of separately managed account options, Federated provides comprehensive investment management worldwide to more than 9,600 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers around the world. For more information, visit . ### View original content: SOURCE Federated Investors, Inc.

Barnes & Noble 9-week Holiday Period Comps. Up 1.3%; To Reduce Earnings Outlook

(RTTNews) - Barnes & Noble, Inc. (BKS) reported comparable store sales increased 4.0% between Black Friday and New Year's Day and 1.3% for the nine-week holiday period ending December 29, 2018. Also, the company said that due to the increased advertising expenditure and increased promotional activity, earnings guidance may be reduced by as much as 10%. "Although we got off to a slow start, sales picked up momentum as we moved deeper into the season, and we finished strongly in accordance with our expectations," said Len Riggio, Chairman of Barnes & Noble, Inc.

Macy's is getting clobbered after slashing guidance due to a disappointing holiday season (M)

Macy's is getting clobbered after slashing guidance due to a disappointing holiday season (M) Ethel Jiang Jan. 10, 2019, 08:51 AM Kena Betancur/Getty Images Macy's slashed its annual sales and profit guidance due to a disappointing holiday season. The retailer also cut its comparable-sales forecast. The holiday season started off strong during Black Friday and Cyber Week, but weakened in the middle of December and did not return to expected patterns until the week of Christmas, CEO Jeff Gennette said. Watch Macy's trade live. Macy's tanked 18% to $ 25.88 a share early Thursday after slashing its annual sales and profit guidance due to a disappointing holiday season. The retailer on Thursday lowered its annual profit guidance to between $3.95 and $4 a share, down from between $4.10 and $4.30 provided on November 14. Macy's also said it now sees its annual net revenue to be flat, rather than the 0.3% to 0.7% increase it previously estimated. Meanwhile, the company said its comparable sales increased 0.7% in November and December, but cut the guidance of its annual comparable-sales growth to 2%, down from 2.3% to 2.5%. "The holiday season began strong – particularly during Black Friday and the following Cyber Week, but weakened in the mid-December period and did not return to expected patterns until the week of Christmas," said CEO Jeff Gennette in a press release. "In the holiday period, we saw strong performance across a number of categories (fine jewelry, women's shoes, fragrance, dresses, outerwear, active and home). This sales growth was largely offset by: underperformance of other categories (women’s sportswear, seasonal sleepwear, fashion jewelry, fashion watches and cosmetics); temporary fulfillment challenges following the fire in our West Virginia distribution center; and underestimation of the impact of changes to our pre-Christmas earn & redeem promotional event." Macy's was up 24% in the past year. Markets Insider

Bitcoin plunges sharply and suddenly | Markets Insider

Markets Insider Bitcoin and other cryptocurrencies took a sharp and sudden turn lower Thursday morning. The selling pushed bitcoin below $3,800 a coin. Watch bitcoin trade live . It may be 2019, but bitcoin is back to its bad habits of 2018. The largest cryptocurrency by market cap plunged sharply and suddenly early Thursday, falling from near $4,000 a coin to below $3,800. At last look, it was trading down 5.4% near $3,807. Its rivals ether (-11.8%), litecoin (-10.2%), and bitcoin cash (-12.9%) were under even more significant pressure. "After Bitcoin's leap to $4,000 earlier this week, it seems that we're now seeing a reversal of this surge which in turn, is also causing XRP and Ethereum's price to fall," Mati Greenspan, a senior market analyst at eToro, the global multi-asset investment platform, said. "While Bitcoin was unable to hold on to Sunday’s momentum, it's important to remember that this price decline still remains within the broader $3,000 - $5,000 range, meaning the significance of this should not be overstated." And while no one has been able to pinpoint exactly what was behind the drop, Timothy Tam, the cofounder and CEO of the Hong Kong-based crypto research firm CoinFi, told Bloomberg he noticed someone transferred 40,000 ether into an exchange about an hour before the sell-off occurred. 2018 was a rough year for investors in the digital-coin space. The crypto boom from 2017 turned into a bust, wiping out hundreds of billions of dollars in market cap as investors suffered through sharp and sudden drops in the market. Data from the crypto site showed the total crypto universe peaked with a market cap of $813.9 billion on January 7, 2018, and that was down to just $103.9 billion by December 13. Bitcoin was still up 2.9% this year after Thursday's selling.

12 packing essentials on every business traveler’s list

Jackery Bolt 6000 mAh Power Bank with Built-in Lightning Cable, $31.99, available at Amazon It's always a good idea to have a battery pack on hand when you travel, and this doesn't change when you travel for business. While there are many battery packs on the market to choose from, our pick is Jackery's because its built-in cable charges your phone twice as fast as the original charger, and it's neither so small that it can only charge your device once nor so bulky that it weighs you down. 4 / Performance workwear that never wrinkles Ministry of Supply/Instagram Shop the Women's Kinetic Collection starting at $125 at Ministry of Supply here Instead of worrying about how you're going to pack your best suit without damaging it, simply get one that always stays wrinkle-free . Ministry of Supply's stretchy, comfortable, and water-resistant suits and dresses prove that you can have it all, without paying more than you would for normal workwear. The styles are sleek and classic, so you'll always be prepared for meetings, coffee chats, and lunches. 5 / A fast pass through airport security CLEAR/Facebook Enroll in a two-month free trial of CLEAR here using code "INSIDER" Seasoned business travelers will already have TSA Pre-Check to help them breeze through the nightmare that is airport security, but another security service that's worth adding on if you want to save even more time is CLEAR. The CLEAR lane at the terminal verifies your identity with a biometric screening (a fingerprint or eye scan) so you can skip the part of the line where the TSA officer checks your ID. 6 /

M.M. Warburg sues Deutsche Bank over share trade tax

FILE PHOTO: The headquarters of the Deutsche Bank is pictured in Frankfurt Thomson Reuters FRANKFURT (Reuters) - Hamburg-based bank M.M. Warburg & Co said on Thursday it had filed a lawsuit against Deutsche Bank seeking 46 million euros ($53.04 million) that the bank was ordered to pay in capital gains tax. Warburg said the lawsuit was filed in December in a Frankfurt regional court. Warburg said Deutsche Bank had failed to withhold taxes of 46 million euros for a series of share trades that took place as part of Deutsche's role as a custodian bank for the years 2010 and 2011. Hamburg tax authorities had told Warburg to repay those funds, and this prompted the legal action, the bank said. Warburg also denied any wrongdoing. A Deutsche Bank spokesman said the bank had not seen the court filing but also said that Warburg's allegations as reported in the German media were "without merit" and that the bank "strongly rejected" the accusations. Warburg's lawsuit relates to a share-trading scheme - known as "cum-ex" - that has become the subject of Germany's biggest post-war fraud investigation. Authorities say the scheme cost taxpayers billions of euros. Public prosecutors in Cologne and elsewhere in Germany have said the players in the so-called cum-ex scheme misled the German government into thinking a stock had multiple owners on its dividend payday who were each owed a dividend and a dividend tax credit. The prosecutors have also said the scheme was illegal and misled the German government into paying tax refunds. Deutsche Bank has said it is fully cooperating with investigators regarding the scheme. (Reporting by Hans Seidenstuecker and Tom Sims. Editing by Jane Merriman)

Czech Republic, Government of Stable outlook for CEE sovereigns balances strong but slowing growth and structural challenges

Announcement: Moody's: Stable outlook for CEE sovereigns balances strong but slowing growth and structural challenges

Exclusive: Glencore loses exclusive marketing rights to two Libyan crude grades

FILE PHOTO: The logo commodities trader Glencore is pictured in Baar Thomson Reuters LONDON (Reuters) - Trading and mining giant Glencore has lost its exclusive marketing rights for two of Libya's main crude oil export grades after holding those rights since the end of 2015, trading sources with direct knowledge said. China's Unipec has been allocated three cargoes of that crude in January, according to one of the sources. Glencore declined to make an immediate comment and NOC could not be reached for immediate comment. (Reporting by Julia Payne and Ahmad Ghaddar; editing by Jason Neely)