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1834 Investments Limited (1834) Delay in Submission of Audited Financial Statements Published: 01 June 2018

1834 Investments Limited (1834) has advised that its Audited Financial Statements for the year ending March 31, 2018, which were due to be filed with the Jamaica Stock Exchange by May 30, 2018, was delayed due to additional time required to complete the audit of the Company’s financial statements.

1834 further states that the Company is making every effort to have its audited financial statements submitted by June 30, 2018 and will be advising its shareholders by way of a statement in the print media.

Wall St. slips as U.S. tariffs spark trade war fears Published: 31 May 2018

(Reuters) - U.S. stocks fell on Thursday after the United States moved to impose metal tariffs on imports from Canada, Mexico and the European Union, prompting a tit-for-tat response from some of its trading partners.

U.S. Commerce Secretary Wilbur Ross said a 25 percent tariff on steel imports and a 10 percent levy on aluminum imports from its allies would come into effect on Friday.

Mexico retaliated with “equivalent” measures on farm and industrial products, targeting pork legs, apples, grapes and cheeses as well as steel.

The S&P 500 packaged foods and meats index .SPLRCFOOD dipped 2.3 percent with all its 10 components in the red. Kraft Heinz (KHC.O) and Mondelez (MDLZ.O) were the biggest lags on the index.

The S&P Composite 1500 Steel index .SPCOMSTEEL rose 0.3 percent, led by gains in AK Steel (AKS.N) and US Steel (X.N) although it pared early gains after Mexico’s retaliation.

Shares of Boeing (BA.N) slipped 1.3 percent and Caterpillar (CAT.N) declined 1.9 percent, dragging down the Dow Jones Industrials .DJI.

“The market is worried about retaliation, they are looking for what would come from the EU side,” said Zhiwei Ren, managing director and portfolio manager at Penn Mutual Asset Management in Horsham, Pennsylvania.

“But this is another negotiation tactic on the U.S. side and they want to use tariffs as a bargaining tool for other negotiations.”

Friction between the United States and its trading partners have roiled financial markets, especially after President Donald Trump in March decided to impose the metal tariffs.

 Adding to the trade worries was a report that Trump aimed to push German carmakers out of the United States altogether, after launching a national security probe last week into car and truck imports.

At 13:09 ET the Dow Jones Industrial Average .DJI was down 214.21 points, or 0.87 percent, at 24,453.57, the S&P 500 .SPX was down 11.80 points, or 0.43 percent, at 2,712.21 and the Nasdaq Composite .IXIC was up 1.48 points, or 0.02 percent, at 7,463.94.

Nine of the 11 major indexes were in the red, led by declines in the industrial stocks.

S&P technology index .SPLCT jumped 0.48 percent, helped by a 2.3 percent gain in shares of Alphabet Inc (GOOGL.O) and 2.3 percent rise in Facebook (FB.O).

The biggest percentage gainer on the S&P 500 was General Motors (GM.N), which surged 10.4 percent after Japan’s SoftBank Group (9984.T) decided to invest $2.25 billion in its autonomous vehicle unit.

Dollar General (DG.N) declined about 8.3 percent and Dollar Tree (DLTR.O) dropped 12 percent after both discount retailers missed Wall Street estimates for their quarterly same-store sales.

Declining issues outnumbered advancers for a 1.88-to-1 ratio on the NYSE and for a 1.50-to-1 ratio on the Nasdaq.

The S&P index recorded 19 new 52-week highs and nine new lows, while the Nasdaq recorded 129 new highs and 36 new lows.

 

Reporting by Medha Singh; Editing by Arun Koyyur

Caribbean Cement Company Limited (CCC) – Loan Agreements with CEMEX Espana, S.A. Published: 31 May 2018

Caribbean Cement Company (CCC) has advised that on May 28, 2018, pursuant to the authorization of its Board of Directors, the Company entered  into two loan agreements with CEMEX España, S.A., a subsidiary of CEMEX, S.A.B. de C.V.: (i) a term loan agreement for US$$50 million bearing an annual interest rate of 7.25% to be repaid in full within 7 years from the signature date; and (ii) a revolving loan agreement for US$52 million bearing an annual interest rate of LIBOR plus 420 basis points to be repaid in full 7 years from the signature date (the “Loan Agreements”).

The proceeds from the Loan Agreements will be used by CCC to pay Trinidad Cement Limited, its parent company, for the purchase of assets mainly consisting of the Kiln 5 and Mill 5 processes at CCC’s Rockfort, Kingston, Jamaica  facilities, pursuant to the equipment sale and purchase agreement dated April 27, 2018, the remainder, if any, will be used for general corporate purposes.

Honey Bun (1982) Ltd (HONBUN) Declares Dividend Published: 31 May 2018

Honey Bun (1982) Ltd (HONBUN) has advised that at a meeting held on May 28, 2018, the Board of Directors declared an interim dividend of 20 Jamaican cents ($0.20) per share. The dividend is payable on June 25, 2018, to shareholders on record as at June 11, 2018. The ex-dividend date is June 8, 2018.

Caribbean Flavours and Fragrances Limited (CFF) Published: 31 May 2018

Caribbean Flavours and Fragrances Limited (CFF) has advised that the Board of Directors will be meeting on Thursday, May 31, 2018, for the sole consideration of a recommendation for the payment of an interim dividend.