US Senate to vote on Thursday on ending government shutdown
US Senate leaders agree to vote on Thursday on two competing bills that could end government shutdown.
The US Senate is likely to vote this week on bills that, if passed, could end the month-long partial government shutdown.
It is the longest government shutdown in American history, with hundreds of thousands of workers going without a paycheque.
The political deadlock began over funding for President Donald Trump’s proposed wall along the border with Mexico.
Al Jazeera’s Mike Hanna reports from Washington, DC.
Alliance Resource Initiates FY20 Outlook, Slashes Cash Distribution
While reporting financial results for the fourth quarter on Monday, Alliance Resource Partners, L.P. (ARLP) initiated financial guidance for the full-year 2020.
For fiscal 2020, the company now projects net income attributable to ARLP in a range of $81.0 million to $159.0 million and revenues (Excluding Transportation Revenues) between $1.65 billion and $1.77 billion.
Further, the Board of Directors of ARLP’s general partner decreased the quarterly cash distribution to unitholders for the quarter to $0.40 per unit, payable on February 14, 2020 to all unitholders of record as of the close of trading on February 7, 2020.
“ARLP anticipates challenging coal market conditions will persist throughout 2020 as low natural gas prices, tepid power demand and elevated stockpiles are likely to keep the industry in an oversupplied position and continue to exert pressure on pricing for the near future,” said Joseph Craft III, Chairman, President and Chief Executive Officer.
Netflix Plans Substantial Expansion In France
Video streaming giant Netflix announced plans to significantly increase its investment in France with 20 new French productions, and partnerships with leading French creative institutions.
Netflix on Monday opened its new headquarters in France, located in the heart of Paris. Netflix France currently employs 40 people, across films and series, partnerships and marketing.
“It is a real honour to be in France, with its rich culture and history of storytelling. This office is a sign of our long-term commitment to the country, and will enable us to work even more closely with the French creative community on great shows and films that are made in France and watched all around the world”, said Reed Hastings, Founding Chairman and CEO of Netflix.
Since launching in France in 2014, Netflix has developed 24 French titles, including 6 films, 9 series, 5 stand-up shows, 3 documentaries and 1 unscripted series.
“We are incredibly proud of the productions we’re currently filming, the ones we are developing and the ones we’ve unveiled today. The establishment of a new French creative hub brings new opportunities for us to work with the best and most exciting creative talent in France and to bring diverse genres and content to everyone who loves French storytelling,” added Damien Couvreur, Netflix’s Director of Series in France.
Lebanon parliament passes 2020 budget: Lebanese media
BEIRUT (Reuters) – Lebanon’s parliament passed a 2020 budget on Monday, Lebanese media reported, as the country grapples with a debilitating financial crisis.
Its passage came amid questions over whether projected revenues were realistic in light of economic conditions that have deteriorated since protests against the country’s elite erupted in October.
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GEA Group To Incur Impairment Charge Of About EUR 248 Mln In Q4
GEA Group AG (GEAGF.PK,GEAGY.PK) said Monday that it has recognized a non-cash impairment of about 248 million euros in the fourth quarter of 2019. It was due to the impairment test of the goodwill of GEA’s Italian subsidiary Pavan S.p.A. acquired in November 2017.
The current business plan for the Pavan Group anticipates a business development that will continue to be significantly below the business plan assumed at the time of the acquisition. This has led to the complete impairment of the goodwill of the Pavan Group.
In addition, GEA said it has accelerated the recognition of restructuring expenses. In comparison to the previously expected amount of up to 55 million euros, this amount now totals about 105 million euros on an EBITDA level in fiscal year 2019. The difference mainly results from accelerated restructuring expenses in the amount of 47 million euros that have already been accrued for the planned reduction of a total number of 800 full-time employees by the end of 2020.
The preliminary financial results for the 2019 fiscal year are in line with the company’s guidance. Both order intake at an estimated 4.93 billion euros and consolidated revenues, which are expected to total 4.88 billion euros, are slightly higher than the previous year.
The company will publish its fiscal year 2019 result on March 17, 2020.
Michelob Ulta promotes organic farming program with Super Bowl commercial
Michelob Ultra has unveiled its 60-second Super Bowl LIV commercial, which promotes the new "6 For 6-Pack" program that will help farmers convert six square feet of farmland to organic with each purchase of a six-pack of Michelob Ultra Pure Gold. The program expands on the Contract for Change program, which launched in July 2019 and pledged to help farms make the move to organic barley production. Michelob Ultra Pure Gold says it’s the first national beer brand to be USDA-certified organic. Michelob is an Anheuser-Busch brand. Anheuser Busch InBev S.A. BUD, -2.86% stock is down 2.8% in Monday trading, but up 1% over the last year. The S&P 500 index SPX, -1.43% has gained nearly 22% for the last 12 months. Watch here.