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Brent crude oil prices jumped above $65 per barrel

A temporary shutdown of the Forties North Sea pipeline knocked out significant supplies from a market that was already tightening due to OPEC-led production cuts. It will take weeks to fix it.

Brent crude futures on Tuesday, the international benchmark for oil prices, were at $65.28 a barrel currently (+0.90%).

U.S. West Texas Intermediate (WTI) crude futures were at $58.38 a barrel (+0.67%).

Britain’s Forties oil pipeline, the country’s largest at a capacity of 450,000 barrels per day (bpd), shut down on Monday after cracks were revealed.

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North Korea is making progress developing submarine-launched ballistic missiles

United States, Japan and South Korea are teaming up for another drill

Amid fears that North Korea is rapidly developing also its submarine-launched ballistic missile technology, the United States, Japan and South Korea are teaming up for a drill to track such hard-to-detect missiles, military officials said Monday.

The drill is taking place over two days in waters between Japan and the Korean Peninsula, said South Korea’s Joint Chiefs of Staff, and will involve destroyers from the three nations doing computer-simulated training to track submarine missile launchings by North Korea.

The drills come in the wake of news reports that North Korea is making progress developing submarine-launched ballistic missiles.

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Passenger volume of Lufthansa Group airlines increased by one third in November in comparison to last year

The airlines of the Lufthansa Group have so far welcomed around 121 million passengers on board their aircraft in 2017. The seat load factor this year remains on a record course of 81.1 percent.

In November 2017, the airlines of the Lufthansa Group welcomed around 10.1 million passengers. This shows an increase of 32% compared to the previous year’s month. The available seat kilometers were up 22.3% over the previous year, at the same time, sales increased by 25.6%. The seat load factor improved accordingly, rising two percentage points compared to November 2016 to 77.8%. The strong growth in comparison to last year is among others caused because the pilots union called for strike on six days in November 2016. 

The currency adjusted yield indication developed positively again in November compared to previous year.

Cargo capacity increased 8% year-on-year, while cargo sales were up 9.4% in revenue tonne-kilometer terms. As a result, the Cargo load factor showed a corresponding improvement, rising 0.9 percentage points in the month. 

Network Airlines

The Network Airlines Lufthansa German Airlines, SWISS and Austrian Airlines carried 7.6 million passengers in November, 20.5% more than in the prior-year period. Compared to the previous year, the available seat kilometers increased by 12.7% in November. The sales volume was up 16.1% over the same period, raising seat load factor by 2.3 percentage points to 78.3%. The increase in seats offered also accounts for the measures taken by Lufthansa Group to compensate for the elimination of Air Berlin from the market and partly reestablish the former capacities.

Lufthansa German Airlines transported 5.4 million passengers in November, a 27.4% increase compared to the same month last year. A 15.7% increase in seat kilometers in November corresponds to a 21.2% increase in sales. Furthermore, the seat load factor was up to 79.3%, therefore 3.6 percentage points above the prior-year’s level. 

Point-to-Point Airlines

The Lufthansa Group’s Point-to-Point Airlines – Eurowings (including Germanwings) and Brussels Airlines – carried around 2.5 million passengers in November. Among this total, 2.2 million passengers were on short-haul flights and 224,000 flew long-haul. This amounts to an increase of 88.2% in comparison to the previous year. November capacity was 115.2% above its prior-year level, while its sales volume was up 119.7%, resulting in an increased seat load factor by 1.6 percentage points of 75.2%.

On short-haul services the Point-to-Point Airlines raised capacity 82.8% and increased sales volume by 96.8%, resulting in a 5.3 percentage points increase in seat load factor of 74.1%, compared to November 2016. The seat load factor for the long-haul services decreased 9.6 percentage points to 76.9% during the same period, following a 201.9% increase in capacity and a 168.5% rise in sales volume, compared to the previous year. The number of passengers on long-haul flights of the Point-to-Point Airlines in November was 241% higher than one year before.

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Employers Report Strong Hiring across Many Markets, Driven by Uptick in Asia Pacific, U.S. and Eastern Europe

Employers in Australia, Japan, Norway, Poland, Romania and the United States report their strongest hiring plans in five years or more

Outlooks among employers in Eastern Europe, Portugal and Greece outpace those in Western Europe

In Asia Pacific, employers plan to add to their workforce in multiple sectors in Q1, and companies in Singapore, China and Hong Kong predict biggest year-over-year increases

Employers globally are reporting positive hiring intentions as those in 41 of 43 countries forecast an increase in staffing levels in Q1 2018, according to the latest ManpowerGroup Employment Outlook Survey.

The strongest Outlooks globally are reported in the U.S., Japan, Taiwan and India. Employers in Australia, Japan, Norway, Romania and the U.S. are reporting the healthiest hiring plans in five years or more.

Outlooks among employers in Eastern Europe, and Greece outpace those in Western Europe. Employers in Austria and Italy report the weakest Outlooks across Europe and the globe while job prospects remain upbeat in Romania, Hungary and Poland. In Spain and Portugal, employers report more optimistic Outlooks year-over-year while in the UK, Germany and Belgium they report weaker (yet still positive) hiring intentions. In the UK, concerns over Brexit may be impacting employer confidence as the overall forecast dips to its weakest level since 2012. 

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Vopak presents view on developments in the oil, chemicals and gas markets            

Today, Vopak hosts its Analyst Day for equity (sell-side) analysts in Rotterdam, the Netherlands. The half-day event features presentations by Vopak's Global Product Directors on the developments in the oil, chemicals and gas markets. The presentations are available through Vopak's website.

Vopak presents the following highlights on the product-markets it operates in:

•             Oil products: Soft short-term markets with solid long-term underlying demand, supported by the growing petrochemical and transportation sector. Energy transition changes overall mix in demand for oil products and IMO 2020 will impact global fuel oil and bunker markets causing transition challenges in the short-term, and resulting in new opportunities in the mid- to long-term.

•             Chemicals and LPG: Steady growth path continues globally. To meet new demand, new petrochemical complexes are expected to arise in feedstock advantaged regions (US and Middle East) and close to growing end markets (Asia). The strong increase in supply coming from shale gas developments in North America will result in increasing global LPG trade requiring additional infrastructure.

•             LNG: Surge in LNG supply creates opportunities to open new markets. Bulk of the growth in LNG demand comes from new importing countries, mainly driven by increasing energy demand. Developments in gas-to-power, along with trends in FRSUs and LNG bunkering, are shaping the LNG industry, which play a key role in expanding access to gas across the globe.

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Gemalto in the process of reviewing the unsolicited and conditional proposal by Atos         

The board of Gemalto N.V. has noted the announcement last evening of the unsolicited and conditional proposal by Atos SE to make a cash offer for all issued and outstanding shares of the Company at an offer price of EUR 46 (cum dividend in cash) (the Proposal).

On November 28, 2017 Atos submitted its Proposal, valid until December 15, 2017 to the board of the Company. The Company subsequently informed Atos that it would carefully review the Proposal and respond to it before such date.

The board of the Company will continue its process of reviewing and considering the Proposal together with its financial and legal advisors in accordance with its fiduciary duties to determine the best course of action in the interest of the Company, its business, employees, shareholders and other stakeholders.

There is no certainty that the Proposal will lead to a recommended firm offer for the Company.

The Company has retained Deutsche Bank and J.P. Morgan as financial advisors and Allen & Overy LLP as legal advisor.

Further announcements will be made in due course once the board has completed its review of the Proposal.

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Atos proposes to acquire Gemalto to create a global leader in cybersecurity, digital technologies and services; An all-cash offer of €46 per share

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Boeing Board Raises Dividend 20 Percent, Establishes $18 Billion Share Repurchase Authorization

The Boeing (NYSE: BA) board of directors today declared the company's quarterly dividend will increase 20 percent to $1.71 per share. The board also replaced the existing share repurchase program with a new $18 billion authorization.

"Boeing's strong and growing cash flow allows us to deepen our commitment to provide competitive returns to our shareholders, while continuing to invest in our people, innovation and growth," said Boeing Chairman, President and Chief Executive Officer Dennis Muilenburg. "To support our balanced cash deployment strategy, our team remains focused on improving operating performance as we deliver on our substantial order backlog and work to capture a larger share of the growing aerospace market."

With the latest increase to the dividend, Boeing has raised its quarterly dividend more than 250 percent over the past five years. The company has consistently paid dividends to shareholders each quarter for more than 75 years. The new dividend will be payable March 2, 2018, to shareholders of record as of February 9, 2018.

The company this year has repurchased $9.2 billion worth of its shares from the $14 billion authorization approved in December 2016. The new repurchase program replaces the existing one, bringing the total authorization to $18 billion.

"Our cash deployment plans are the product of our disciplined cash management efforts and reflect ongoing confidence in our financial strength and the long-term outlook of our business," said Greg Smith, Boeing chief financial officer and executive vice president of Enterprise Performance & Strategy.

The timing and volume of repurchases are at the discretion of Boeing management, however it is expected that repurchases under the new share authorization will be made over the next 24 to 30 months.

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SEC  : Stock Trader Charged in Insider Trading Ring

The Securities and Exchange Commission today charged a former day trader with making more than $1 million in illegal insider trading profits as part of a ring that allegedly stole confidential information from investment banks and clients so they could trade in advance of secondary stock offerings.

The SEC alleges that Joseph Spera schemed with former colleagues, posing as legitimate portfolio managers to induce investment bankers to bring them ''over the wall'' and share nonpublic details about upcoming secondary offerings while agreeing not to disclose the information to others or trade before the offerings were announced.  Spera and the others involved allegedly violated those agreements and tipped each other with confidential information that enabled them to trade for a profit ahead of public announcements.

The SEC and criminal authorities previously charged four others in the alleged insider trading ring in parallel actions.  In total, the alleged insider trading by Spera and the others generated approximately $5.5 million in illicit profits, including illegal trades they made based on nonpublic information they obtained ahead of a major announcement by a large pharmaceutical company.

''We unraveled many strands of this alleged insider trading scheme by following the chain of tips downstream to those who benefited unlawfully by trading on confidential information that was obtained under false pretenses,'' said Sanjay Wadhwa, Senior Associate Director for Enforcement in the SEC's New York Regional Office.

The U.S. Attorney's Office for the District of New Jersey has filed a parallel criminal action against Spera, who agreed to plead guilty.  Spera’s childhood friend Paul Petrello and two others charged initially, Steven Costantin and Ronald Chernin, have pleaded guilty in the criminal actions and agreed to partial settlements in the SEC cases with potential monetary sanctions to be determined at a later date.  Litigation continues against the alleged ringleader of the scheme, Steven Fishoff, who recruited Spera into the fold along with Petrello.

The Financial Journal GLOBAL, founded in 1967/2017, 50 years and ongoing. 

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Washington D.C., Dec. 11, 2017 —  SEC :  Company Halts ICO After SEC Raises Registration Concerns

A California-based company selling digital tokens to investors to raise capital for its blockchain-based food review service halted its initial coin offering (ICO) after being contacted by the Securities and Exchange Commission, and agreed to an order in which the Commission found that its conduct constituted unregistered securities offers and sales.

According to the SEC’s order, before any tokens were delivered to investors, Munchee Inc. refunded investor proceeds after the SEC intervened.  Munchee was seeking $15 million in capital to improve an existing iPhone app centered on restaurant meal reviews and create an “ecosystem” in which Munchee and others would buy and sell goods and services using the tokens.  The company communicated through its website, a white paper, and other means that it would use the proceeds to create the ecosystem, including eventually paying users in tokens for writing food reviews and selling both advertising to restaurants and “in-app” purchases to app users in exchange for tokens.

According to the order, in the course of the offering, the company and other promoters emphasized that investors could expect that efforts by the company and others would lead to an increase in value of the tokens.  The company also emphasized it would take steps to create and support a secondary market for the tokens.  Because of these and other company activities, investors would have had a reasonable belief that their investment in tokens could generate a return on their investment.  As the SEC has said in the DAO Report of Investigation, a token can be a security based on the long-standing facts and circumstances test that includes assessing whether investors’ profits are to be derived from the managerial and entrepreneurial efforts of others.

“We will continue to scrutinize the market vigilantly for improper offerings that seek to sell securities to the general public without the required registration or exemption,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division.  “In deciding not to impose a penalty, the Commission recognized that the company stopped the ICO quickly, immediately returned the proceeds before issuing tokens, and cooperated with the investigation.”

“Our primary focus remains investor protection and making sure that investors are being offered investment opportunities with all the information and disclosures required under the federal securities laws,” said Steven Peikin, Co-Director of the SEC’s Enforcement Division.

Munchee consented to the SEC’s cease-and-desist order without admitting or denying the findings.

The SEC’s new Cyber Unit is focused on misconduct involving distributed ledger technology and initial coin offerings, the spread of false information through electronic and social media, brokerage account takeovers, hacking to obtain nonpublic information, and threats to trading platforms.  The SEC also has a Distributed Ledger Technology Working Group that focuses on various emerging applications of distributed ledger technology in the financial industry.

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US DoD Complying with Court Orders to Access Transgender Persons into the Military

As required by recent federal district court orders, the Department of Defense recently announced it will begin processing transgender applicants for military service on January 1, 2018. This policy will be implemented while the Department of Justice appeals those court orders.

The United States District Court for the District of Columbia ordered DoD to implement, effective January 1, 2018, the accession policy issued by former Secretary Carter in 2016. DoD and the Department of Justice are actively pursuing relief from those court orders in order to allow an ongoing policy review scheduled to be completed before the end of March.

Under the 2016 Carter policy, a history of gender dysphoria is disqualifying unless, as certified by a licensed medical provider, the applicant has been stable without clinically significant distress or impairment in social, occupational, or other important areas of functioning for 18 months. Additionally, a history of medical treatment associated with gender transition is disqualifying unless, as certified by a licensed medical provider, the applicant has completed all medical treatment associated with the applicant’s gender transition, the applicant has been stable in the preferred gender for 18 months, and if presently receiving cross-sex hormone therapy post-gender transition, the individual has been stable on such hormones for 18 months.

Guidance also includes specific details for recruits with a history of sex reassignment or genital reconstruction surgery. Under the updated standards, these procedures would be disqualifying unless, as certified by a licensed medical provider, a period of 18 months has elapsed since the date of the most recent surgery, no functional limitations or complications persist, and no additional surgeries are required.

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Statement on Cryptocurrencies and Initial Coin Offerings by SEC Chairman Jay Clayton

Dec. 11, 2017

The world’s social media platforms and financial markets are abuzz about cryptocurrencies and “initial coin offerings” (ICOs).  There are tales of fortunes made and dreamed to be made.  We are hearing the familiar refrain, “this time is different.”

The cryptocurrency and ICO markets have grown rapidly.  These markets are local, national and international and include an ever-broadening range of products and participants.  They also present investors and other market participants with many questions, some new and some old (but in a new form), including, to list just a few:

Is the product legal?  Is it subject to regulation, including rules designed to protect investors?  Does the product comply with those rules?

Is the offering legal?  Are those offering the product licensed to do so?

Are the trading markets fair?  Can prices on those markets be manipulated?  Can I sell when I want to?

Are there substantial risks of theft or loss, including from hacking?

The answers to these and other important questions often require an in-depth analysis, and the answers will differ depending on many factors.  This statement provides my general views on the cryptocurrency and ICO markets[1] and is directed principally to two groups:

“Main Street” investors, and

Market professionals – including, for example, broker-dealers, investment advisers, exchanges, lawyers and accountants – whose actions impact Main Street investors.

Considerations for Main Street Investors

A number of concerns have been raised regarding the cryptocurrency and ICO markets, including that, as they are currently operating, there is substantially less investor protection than in our traditional securities markets, with correspondingly greater opportunities for fraud and manipulation. 

Investors should understand that to date no initial coin offerings have been registered with the SEC.  The SEC also has not to date approved for listing and trading any exchange-traded products (such as ETFs) holding cryptocurrencies or other assets related to cryptocurrencies.[2]  If any person today tells you otherwise, be especially wary.

We have issued investor alerts, bulletins and statements on initial coin offerings and cryptocurrency-related investments, including with respect to the marketing of certain offerings and investments by celebrities and others.[3]  Please take a moment to read them.  If you choose to invest in these products, please ask questions and demand clear answers.  A list of sample questions that may be helpful is attached.

As with any other type of potential investment, if a promoter guarantees returns, if an opportunity sounds too good to be true, or if you are pressured to act quickly, please exercise extreme caution and be aware of the risk that your investment may be lost.

Please also recognize that these markets span national borders and that significant trading may occur on systems and platforms outside the United States.  Your invested funds may quickly travel overseas without your knowledge.  As a result, risks can be amplified, including the risk that market regulators, such as the SEC, may not be able to effectively pursue bad actors or recover funds.

To learn more about these markets and their regulation, please read the “Additional Discussion of Cryptocurrencies, ICOs and Securities Regulation” section below.

Considerations for Market Professionals

I believe that initial coin offerings – whether they represent offerings of securities or not – can be effective ways for entrepreneurs and others to raise funding, including for innovative projects.  However, any such activity that involves an offering of securities must be accompanied by the important disclosures, processes and other investor protections that our securities laws require.  A change in the structure of a securities offering does not change the fundamental point that when a security is being offered, our securities laws must be followed.[4]  Said another way, replacing a traditional corporate interest recorded in a central ledger with an enterprise interest recorded through a blockchain entry on a distributed ledger may change the form of the transaction, but it does not change the substance.

I urge market professionals, including securities lawyers, accountants and consultants, to read closely the investigative report we released earlier this year (the “21(a) Report”)[5] and review our subsequent enforcement actions.[6]  In the 21(a) Report, the Commission applied longstanding securities law principles to demonstrate that a particular token constituted an investment contract and therefore was a security under our federal securities laws.  Specifically, we concluded that the token offering represented an investment of money in a common enterprise with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others.

Following the issuance of the 21(a) Report, certain market professionals have attempted to highlight utility characteristics of their proposed initial coin offerings in an effort to claim that their proposed tokens or coins are not securities.  Many of these assertions appear to elevate form over substance.  Merely calling a token a “utility” token or structuring it to provide some utility does not prevent the token from being a security.  Tokens and offerings that incorporate features and marketing efforts that emphasize the potential for profits based on the entrepreneurial or managerial efforts of others continue to contain the hallmarks of a security under U.S. law.  On this and other points where the application of expertise and judgment is expected, I believe that gatekeepers and others, including securities lawyers, accountants and consultants, need to focus on their responsibilities.  I urge you to be guided by the principal motivation for our registration, offering process and disclosure requirements:  investor protection and, in particular, the protection of our Main Street investors.

I also caution market participants against promoting or touting the offer and sale of coins without first determining whether the securities laws apply to those actions.  Selling securities generally requires a license, and experience shows that excessive touting in thinly traded and volatile markets can be an indicator of “scalping,” “pump and dump” and other manipulations and frauds.  Similarly, I also caution those who operate systems and platforms that effect or facilitate transactions in these products that they may be operating unregistered exchanges or broker-dealers that are in violation of the Securities Exchange Act of 1934.       

On cryptocurrencies, I want to emphasize two points.  First, while there are cryptocurrencies that do not appear to be securities, simply calling something a “currency” or a currency-based product does not mean that it is not a security.  Before launching a cryptocurrency or a product with its value tied to one or more cryptocurrencies, its promoters must either (1) be able to demonstrate that the currency or product is not a security or (2) comply with applicable registration and other requirements under our securities laws.  Second, brokers, dealers and other market participants that allow for payments in cryptocurrencies, allow customers to purchase cryptocurrencies on margin, or otherwise use cryptocurrencies to facilitate securities transactions should exercise particular caution, including ensuring that their cryptocurrency activities are not undermining their anti-money laundering and know-your-customer obligations.[7]  As I have stated previously, these market participants should treat payments and other transactions made in cryptocurrency as if cash were being handed from one party to the other.

Additional Discussion of Cryptocurrencies, ICOs and Securities Regulation  

Cryptocurrencies.  Speaking broadly, cryptocurrencies purport to be items of inherent value (similar, for instance, to cash or gold) that are designed to enable purchases, sales and other financial transactions.  They are intended to provide many of the same functions as long-established currencies such as the U.S. dollar, euro or Japanese yen but do not have the backing of a government or other body.  Although the design and maintenance of cryptocurrencies differ, proponents of cryptocurrencies highlight various potential benefits and features of them, including (1) the ability to make transfers without an intermediary and without geographic limitation, (2) finality of settlement, (3) lower transaction costs compared to other forms of payment and (4) the ability to publicly verify transactions.  Other often-touted features of cryptocurrencies include personal anonymity and the absence of government regulation or oversight.  Critics of cryptocurrencies note that these features may facilitate illicit trading and financial transactions, and that some of the purported beneficial features may not prove to be available in practice.

It has been asserted that cryptocurrencies are not securities and that the offer and sale of cryptocurrencies are beyond the SEC’s jurisdiction.  Whether that assertion proves correct with respect to any digital asset that is labeled as a cryptocurrency will depend on the characteristics and use of that particular asset.  In any event, it is clear that, just as the SEC has a sharp focus on how U.S. dollar, euro and Japanese yen transactions affect our securities markets, we have the same interests and responsibilities with respect to cryptocurrencies.  This extends, for example, to securities firms and other market participants that allow payments to be made in cryptocurrencies, set up structures to invest in or hold cryptocurrencies, or extend credit to customers to purchase or hold cryptocurrencies.

Initial Coin Offerings.  Coinciding with the substantial growth in cryptocurrencies, companies and individuals increasingly have been using initial coin offerings to raise capital for their businesses and projects.  Typically these offerings involve the opportunity for individual investors to exchange currency such as U.S. dollars or cryptocurrencies in return for a digital asset labeled as a coin or token.

These offerings can take many different forms, and the rights and interests a coin is purported to provide the holder can vary widely.  A key question for all ICO market participants: “Is the coin or token a security?”  As securities law practitioners know well, the answer depends on the facts.  For example, a token that represents a participation interest in a book-of-the-month club may not implicate our securities laws, and may well be an efficient way for the club’s operators to fund the future acquisition of books and facilitate the distribution of those books to token holders.  In contrast, many token offerings appear to have gone beyond this construct and are more analogous to interests in a yet-to-be-built publishing house with the authors, books and distribution networks all to come.  It is especially troubling when the promoters of these offerings emphasize the secondary market trading potential of these tokens.  Prospective purchasers are being sold on the potential for tokens to increase in value – with the ability to lock in those increases by reselling the tokens on a secondary market – or to otherwise profit from the tokens based on the efforts of others.  These are key hallmarks of a security and a securities offering.  

By and large, the structures of initial coin offerings that I have seen promoted involve the offer and sale of securities and directly implicate the securities registration requirements and other investor protection provisions of our federal securities laws.  Generally speaking, these laws provide that investors deserve to know what they are investing in and the relevant risks involved. 

I have asked the SEC’s Division of Enforcement to continue to police this area vigorously and recommend enforcement actions against those that conduct initial coin offerings in violation of the federal securities laws.

Conclusion

We at the SEC are committed to promoting capital formation.  The technology on which cryptocurrencies and ICOs are based may prove to be disruptive, transformative and efficiency enhancing.  I am confident that developments in fintech will help facilitate capital formation and provide promising investment opportunities for institutional and Main Street investors alike.

I encourage Main Street investors to be open to these opportunities, but to ask good questions, demand clear answers and apply good common sense when doing so.  When advising clients, designing products and engaging in transactions, market participants and their advisers should thoughtfully consider our laws, regulations and guidance, as well as our principles-based securities law framework, which has served us well in the face of new developments for more than 80 years.  I also encourage market participants and their advisers to engage with the SEC staff to aid in their analysis under the securities laws. 

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OM eist ruim 64 miljoen van veroordeelde drugscrimineel

Het Openbaar Ministerie (OM) heeft vandaag bij de rechtbank in Rotterdam geëist dat een 48-jarige drugshandelaar in totaal 64.024.681 euro betaalt aan de Staat. Dat is het bedrag dat de man volgens het OM heeft verdiend met cocaïnehandel.

De rechtbank in Rotterdam veroordeelde man in op 11 mei 2011 tot een gevangenisstraf van 6 jaar voor drugssmokkel. De zaak loopt nog in hoger beroep. De rechtbank acht het bewezen dat hij samen met andere criminelen in 2007 en 2008 in totaal 1230 kilo cocaïne per vliegtuig van Brazilië naar Rotterdam transporteerde. De vracht zou volgens de papieren bestemd zijn voor een bedrijf in Polen, maar de werkelijke bestemming van de vracht was een bedrijf in Rotterdam. Het OM ziet de veroordeelde als feitelijk leidinggevende van dat bedrijf. Het bedrijf had geen omzet en had geen (legale) activiteiten.

Volgens het OM hebben er door de jaren heen in totaal 12 luchttransporten met cocaïne naar het bedrijf plaatsgevonden. Deze 12 luchttransporten (vanuit Brazilië naar Frankfurt) zouden volgens de papieren zien op het transport van blikjes Ecoflame, een brandbare pasta / gel, dat gebruikt kan worden in onder andere rechauds en fonduesets. Op basis van het onderzoek acht het OM voldoende aannemelijk dat in de dozen met Ecoflame geen brandbare pasta zat, maar cocaïne. Bij de 12 luchttransporten zou in totaal ruim 7123 kg cocaïne zijn vervoerd. Volgens het OM  levert 7.123 kg cocaíne bij verkoop in totaal 208.494.867 euro op.  Daar moeten de kosten voor inkoop, inpakken, transport vanaf worden getrokken. Die kosten zijn berekend op € 16.405.822. Het wederrechtelijk verkregen voordeel is daarmee berekend op 192.089.045 euro.

Er zijn aanwijzingen dat de verdachte samen met twee andere de handel in cocaine deed. Het OM gaat er daarom vanuit dat de  verdachte slechts een derde van de opbrengst heeft ontvangen. Het OM vindt daarom dat bij verdachte in totaal 64.024.681 euro moet worden ontnomen. Het OM vroeg de rechtbank ook om een betaalverplichting voor datzelfde bedrag op te leggen.

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UK Prime Minister Theresa May updated the House of Commons on negotiations for the UK's departure from the European Union.

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US (DoJ) authorities announced they will dismiss deferred money laundering charges against HSBC, removing a cloud which has been hanging over the banking giant for the past five years.

The British bank entered into a deferred prosecution agreement (DPA) with the US Department of Justice (DoJ) at the end of 2012, agreeing it would not be prosecuted as long as it did not offend again.

The DoJ's decision removes the threat of criminal prosecution from HSBC for the offences, in which the bank allegedly helped to launder $881m for drug cartels in Mexico and Colombia.

In 2012 HSBC agreed to pay out $1.9bn in fines, after US investigations found it had repeatedly failed to heed internal warnings on the quality of its compliance.

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HSBC Holdings plc Expiration of 2012 Deferred Prosecution Agreement

HSBC Holdings Plc (“HSBC”) today announced that its five-year Deferred Prosecution Agreement (“DPA”) entered on 11 December 2012 with the US Department of Justice has expired. HSBC lived up to all of its commitments, and, therefore, under the DPA, the Department of Justice will file a motion with the US District Court for the Eastern District of New York seeking the dismissal of the charges deferred by the agreement.

HSBC is pleased that the Department of Justice has recognised HSBC’s progress in strengthening its anti-money laundering and sanctions compliance capabilities over the past five years. HSBC is working to ensure that the reforms it has put in place are both effective and sustainable over the long-term, and, given the increasing sophistication of criminal networks that seek to circumvent banks’ controls, HSBC intends for its programme to evolve and improve further over time. HSBC’s work in this area will continue to be consistent with its strategic objective of implementing the highest or most effective standards to combat financial crime across its operations globally.

“HSBC is able to combat financial crime much more effectively today as the result of the significant reforms we have implemented over the last five years. We are committed to doing our part to protect the integrity of the global financial system, and further improvements to our own capability and contributions toward the partnerships we have established with governments in this area will remain a top priority for the Bank into 2018 and beyond,” said Chief Executive Stuart Gulliver.

Under the DPA, an independent compliance monitor was appointed in July 2013 to produce annual assessments of the effectiveness of the Group’s anti-money laundering and sanctions compliance programme. The Monitor has also been serving since July 2013 as HSBC’s Skilled Person under a 2012 Direction issued by the UK Financial Conduct Authority and will continue in that capacity for a period of time at the FCA’s discretion.

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Eindhoven Airport weer open voor vliegverkeer

Het vliegverkeer van en naar Eindhoven Airport ondervindt hinder als gevolg van de weersomstandigheden van vandaag. Op dit moment kan er echter weer gevlogen worden.

Voor meer informatie over de actuele stand van zaken kunnen passagiers terecht op de website van Eindhoven Airport of bij hun luchtvaartmaatschappij.

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New York (NY) Explosion near Times Square

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EuroFlash: Brent: $63,68 (+0,66%), AEX: 547,95 (+0.13%), EUR>(+0,21%)>US-Dollar: $1.1793, EUR>(+0,49%) Pound>£0,8819, Pound>(-0,03%) US-Dollar $1,3371

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Bitcoin futures have arrived!

Monday will be the first proper trading day after the Chicago Board Options Exchange launched Bitcoin futures and the Chicago based CME Group announced that it has self-certified the initial listing of its Bitcoin futures contract to launch Monday, December 18, 2017.

Through the futures market, traders will be able to bet on the future price of the cryptocurrency. It’s anyone’s guess what effect that will have on Bitcoin prices.

For the first time, institutional investors can bet on whether bitcoin will continue to rise in value, or crash back to earth. This could be a watershed moment for digital currencies, moving them closer to the mainstream.

There’s already a surge of interest in bitcoin, since the Chicago Board Options Exchange (CBOE) launched its futures contract.

Bitcoin’s price has surged by up to 25%, forcing CBOE to temporarily halt trading - twice! - to let the volatility cool off.

Dealers reported that there is more interest than expected. Once the situation calmed down, Bitcoin futures expiring in January are changing hands at $17,780 - up from an opening level of $15,000.

That surge in value has pushed bitcoin futures way ahead of the ‘spot’ price of bitcoin. In other words, investors are anticipating that bitcoin will keep pushing higher.

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Business activity rose across all UK regions in November; Businesses raise prices at fastest rate for over nine years

Business activity rose across all UK regions in November, led by strong growth in the North West of England and Wales, according to the latest Lloyds Bank Regional Purchasing Managers’ Index (PMI).

The North West business activity index – a measure that tracks changes in total output across the manufacturing and service sectors – increased to 58.5 in November, its highest reading in over three years. Wales (58.3) saw a further rise in business activity after growth reached a nine-month high in October.

The Lloyds Bank Regional PMI is the leading economic health-check of regions across the UK. A reading greater than 50 represents growth in business activity, while a reading below 50 indicates a contraction. The greater the deviation from the 50 mark, the faster the rate of change.

Other strong performances were recorded in the East of England (57.3) and East Midlands (56.0), with the latter seeing growth accelerate to a three-month high. Conversely, Scotland (50.2) saw a substantial loss of momentum as growth slowed to the weakest in eight months.

Business expansion and efforts to boost capacity continued to result in higher employment levels across the private sector economy. The fastest rates of job creation in November were recorded in the East of England and Yorkshire & Humber while the only region to see a decrease in employment was the South East, where workforce numbers fell marginally and for the first time in 16 months.

The data, meanwhile, pointed to a pick-up in inflationary pressures, with businesses raising charges for goods and services at the fastest rate for more than nine years in November.

Scott Barton, Managing Director of Mid-Markets, Lloyds Banking Group said: “Business  activity was up in all areas of the UK in November, leaving an expectation that the economy is on course for a further steady expansion in the fourth quarter.

“It was encouraging to see firms continuing to add to their workforce numbers. A slight fall in employment in the South East was the only mark on a generally positive picture for the labour

market. “Inflationary pressures continue to persist, with businesses raising prices for goods and services at the fastest rate we’ve seen for the best part of a decade.”

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Jobs in London: Permanent placements growth hits six-month high in London

Key points:

 Permanent placements rise to greatest extent since May

 Labour supply continues to decline

 Permanent starting salary inflation remains weakest among UK regions

Summary:

The Report on Jobs: London contains original data from the survey of recruitment and employment consultants in the capital. The report is designed to provide a comprehensive and up-to-date guide to labour market trends and the data are directly comparable with the UK Report on Jobs.

Permanent placements growth accelerates The amount of candidates placed into permanent positions in the capital increased to the greatest extent in six months midway through the fourth quarter. Moreover, the rate of increase was above the long-run series average. Permanent placements also increased across the UK as a whole, thereby extending the current sequence of growth to 16 months. Moreover, the rate of expansion edged up to its strongest since August. An increase was recorded in each of the five regions monitored by the survey, led by the Midlands.

November data signalled a further rise in temporary billings received by London recruitment consultants, the sixteenth in as many months. The rate of expansion accelerated to its sharpest for three months, but remained below the UK average.

Temporary billings rose for the fifty-fifth successive month at the national level. Moreover, the rate of growth accelerated from October and remained firmly above the long-run series average. The increase was broad-based across the five monitored UK regions, with the North of England registering the sharpest rate of expansion.

Demand for permanent staff across the capital continued to rise in November, extending the current period of growth to 15 months. The rate of expansion weakened from October, however. The trend was similar for temporary staff, with demand rising to a weaker extent than seen in the prior survey period.

Permanent candidate supply falls

The number of candidates available for permanent positions in London dropped again in November, thereby extending the current period of decline to four-and-a-half years. However, the rate of deterioration was the weakest since January. The number of candidates available for permanent positions also fell at the UK level in November, thereby stretching the current period of decline to over four-and-a-half years. The rate of deterioration remained sharp, despite easing to its weakest in seven months. The South of England saw the steepest fall in permanent labour supply.

The availability of candidates for temporary positions in the capital fell for the fifty-second successive month during November. Moreover, the rate of decrease was the most marked since December 2015. A fall in temporary labour supply was also evident across the UK as a whole, with a decline registered in all five monitored regions. The sharpest fall was recorded in London.

Starting salaries continue to rise

Salaries awarded to permanent starters in the capital increased in the latest survey period, thereby continuing a trend that has been evident since June 2013. The rate of inflation strengthened to a threemonth high. At the national level, salaries awarded to permanent starters rose for the sixty- eventh successive month in November. The rate of salary inflation was sharp across all monitored  regions, led by the North of England.

Average hourly wages given to temporary staff also rose during November, and stretched the current period of increase to 14 months. Temp pay rates also increased across the UK as a whole. The rate of inflation was little-changed from the prior survey period, and remained marked overall.

Comment:

Kevin Green, REC chief executive says: “Despite the current uncertainties caused by Brexit and political turmoil, employers are still hiring in significant volume. In London, recruiters have placed more candidates in November than in any of the past six months.

“What is concerning is that recruiters tell us there are less people to fill the roles available in the capital, especially in accounting and finance, where the number of vacancies is increasing quickly. Employers looking to recruit for temporary roles are finding it even harder as the number of available candidates has dropped at the fastest rate in two years.

“Having less access to candidates can have severe effects, restricting businesses’ ability to grow which means they won’t be able to create jobs or increase pay for staff. Although some hirers are responding by raising starting salaries in an attempt to attract scarce talent, there’s no evidence yet this is leading to pay increases for the wider workforce and those who fail to hire will find themselves in dire straits.

“As London is such an international market with over 50,000 EU workers in the finance sector, it is absolutely vital that the government creates certainty for EU workers already here. Government must agree the transitional arrangements in relation to freedom of movement, which they have said they are potentially going to extend to March 2021, so that employers are able to plan ahead. In addition, they need to define what kind of access UK employers will have to EU workers post-Brexit, at both the high and low end of the labour market.”

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Britain remains the top destination for European jobseekers despite Brexit, a study suggests

Nearly a third of those looking for a job in another country preferred Britain as their top work destination, however UK’s popularity as a work destination has declined since last year's Brexit vote.

Job site Indeed analysed the online search patterns of millions of jobseekers across 15 EU countries and found that nearly a third of those looking for work in another country preferred Britain.

Indeed also said that many British job seekers were making plans to work in Europe, with the job site tracking a 15% increase in the proportion looking for work in the EU between 2015 and 2017.

Britain remains a net importer of talent from the EU, but the surge of interest in European roles among UK-based job seekers suggests the cross-Channel traffic is no longer just a one-way street.

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KONE acquires Hong Kong based Shan On Engineering Company Limited

KONE Corporation, a global leader in the elevator and escalator industry, has acquired Shan On Engineering Company Limited in Hong Kong. Founded in 1973, Shan On is specialized in elevator maintenance, modernization and installation services and today has approximately 1,000 elevators in its maintenance base.

Previously, KONE owned 35.3% of the company and has now bought the remaining 64.7% shareholding. With this acquisition, KONE will strengthen its market position in the region.

"We warmly welcome Shan On and its skilled employees to our organization," says William B. Johnson, Executive Vice President for KONE Greater China. "The company has an excellent reputation and a wide client base in Hong Kong, and we are looking forward to continuing the good relationships with the customers."

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Doorbraak in cold case Milica van Doorn

Arrondissementsparket Noord-Holland

De politie Noord-Holland heeft zaterdag 9 december een 47-jarige Zaandammer aangehouden als verdachte in het cold case-onderzoek naar de verkrachting en de gewelddadige dood van Milica van Doorn in 1992.

Het onderzoeksteam kwam de verdachte op het spoor door het DNA-verwantschapsonderzoek, onder 133 mannen met Turkse voorvaderen, dat op 7 november 2017 van start ging.

Cold case

De 19-jarige Milica van Doorn werd op 8 juni 1992, Tweede Pinksterdag, dood aangetroffen in een vijver bij de St. Jozefkerk, in de wijk Kogerveld in Zaandam. Politie, Openbaar Ministerie en het Nederlands Forensisch Instituut (NFI) hebben het onderzoek naar deze zaak de afgelopen 25 jaar nooit afgesloten.

Er is door al de jaren heen uitvoerig onderzoek gedaan en er is ook al eerder DNA- onderzoek gedaan, maar nooit grootschalig DNA-verwantschapsonderzoek. Dat is wettelijk pas mogelijk sinds 2012. Ondanks alle inspanningen werd er nooit een dader gevonden.

DNA-match

Dankzij inzet van DNA-verwantschapsonderzoek is nu, 25 jaar na de gewelddadige dood van Milica, een verdachte aangehouden. De verdachte is een familielid van iemand die in het kader van het verwantschapsonderzoek vrijwillig DNA-materiaal heeft afgestaan.

In totaal is aan 133 mannen met Turkse voorvaderen, die in 1992 in de wijk Kogerveld woonden of verbleven, medewerking gevraagd in dit onderzoek. Het verzamelde DNA-materiaal is vorige maand naar het NFI gestuurd.

Het NFI heeft vastgesteld dat één van deelnemers een verwant is van degene die DNA-sporen heeft achtergelaten in het lichaam van Milica van Doorn. Deze uitslag heeft, in combinatie met andere onderzoeksgegevens, geleid tot de aanhouding van de verdachte. Van hem is na zijn aanhouding verplicht DNA-materiaal afgenomen. Daarvan heeft het NFI dit weekend vastgesteld dat het 100% matcht met het DNA-daderprofiel.

De aangehouden verdachte zit vast en is in verzekering gesteld. Hij zit in volledige beperkingen. Dat betekent dat hij alleen contact mag hebben met zijn advocaat. Later deze week zal hij worden voorgeleid bij de rechter-commissaris. Die beslist over de voorlopige hechtenis. Politie en Openbaar Ministerie verwachten nog geruime tijd bezig te zijn met het verdere onderzoek.

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