News on Yacktman Svc Fund (YACKX)

By Lucia Mutikani WASHINGTON (Reuters) - U.S. economic growth accelerated more than expected in the second quarter and the decline in output in the prior period was less steep than previously reported, which could bolster views for a stronger performance in the last six months of the year. The saving rate increased to 5.3 percent from 4.9 percent in the first quarter as incomes rose, which bodes well for future spending.

By Ryan Vlastelica NEW YORK (Reuters) - U.S. stock index futures rose on Wednesday as investors sought bargains following a period of weakness and looked ahead to data on economic growth and comments from the Federal Reserve following its latest policy meeting. U.S. second-quarter economic growth data will be released at 8:30 a.m. EDT, with GDP expected to have grown 3 percent. The July ADP National Employment report on private sector employment will be released a little earlier, at 8:15 a.m., and is expected to show 230,000 jobs created in the month, down from June's 281,000. Twitter Inc surged 27 percent to $49 in heavy premarket trading.

(Reuters) - Carlyle Group LP said Wednesday its second-quarter earnings doubled from a year earlier as it continued to sell parts of its private equity portfolio and one of its European buyout funds started paying performance fees. Yet private equity dominated its income, accounting for 32 percent of assets under management but 65 percent of its earnings in the quarter. Carlyle's private equity fund portfolio appreciated by 5 percent in the quarter, in line with rival KKR & Co LP's funds, but less than the private equity portfolio of Blackstone Group LP , which rose by 8.4 percent.

By John McCrank NEW YORK (Reuters) - U.S regulators may relax rules that require the fastest possible execution of securities trades, potentially helping upstart trading venue IEX Group's plans to become a full-fledged stock exchange. IEX, described in author Michael Lewis' book "Flash Boys: A Wall Street Revolt" earlier this year as a place for investors to place buy and sell orders without worrying that they are being "front-run" by other traders whose order transmission speeds are faster than theirs. IEX has put in place a "speed bump" – delaying incoming orders by 350 millionths of a second, or a thousandth of the time it takes to blink -- on its trading venue, letting it update prices faster than the fastest market participants can calculate them, so that high-frequency trading firms cannot use their speed advantage to front-run others. The strategy has proved popular with investors, who have made IEX the 7th most used alternative trading system in the U.S. for the week of July 7, according to data from the Financial Industry Regulatory Authority.

By Richard Lough BUENOS AIRES (Reuters) - Argentina faced a race against on time on Wednesday to avert its second default in 12 years, needing either to cut a deal by the end of the day with "holdout" investors suing it or to win more time from a U.S. court to reach a settlement. Argentine Economy Minister Axel Kicillof hurried to New York on Tuesday to join last-ditch negotiations, holding the first face-to-face talks with the principals of New York hedge funds who demand full repayment on bonds they bought at a discounted rate after the country defaulted in 2002. Argentina has until the end of Wednesday to break the deadlock. If it fails, U.S. District Judge Thomas Griesa will prevent Argentina from making a July 30 deadline for a coupon payment on exchanged bonds.

By Marina Lopes WASHINGTON (Reuters) - Sprint Corp reported higher-than-expected first-quarter revenue on Wednesday, as the company expanded its high-speed coverage and came closer to completing a network upgrade that had caused a massive drop in customers. The company, 80 percent owned by Japan's SoftBank Corp , posted a profit of $23 million, or 1 cent a share, in the quarter, reversing a loss of $1.6 billion, or 53 cents a share, a year earlier.

(Reuters) - Thomson Reuters Corp on Wednesday reported a higher-than-expected profit on a 1 percent rise in revenue on growth in its Legal and Tax & Accounting divisions. Analysts on average were expecting 46 cents per share, according to Thomson Reuters I/B/E/S. "Our second-quarter results build upon the good start to the year and are consistent with our full-year expectations," Chief Executive Officer Jim Smith said in a statement.

Two more senior journalists from Rupert Murdoch's defunct British tabloid the News of the World have been charged with phone-hacking, prosecutors said on Wednesday, weeks after the paper's former editor was jailed for the crime. Neil Wallis, the paper's former deputy editor, and former features editor Jules Stenson, have been charged with conspiracy to intercept voicemails on mobile phones of well-known figures or people close to them, the Crown Prosecution Service said. Andy Coulson, who edited the paper from 2003 until 2007 before working as Prime Minister David Cameron's media chief, was jailed on July 4 for 18 months for encouraging staff to hack phones in a bid to get exclusive stories. Outrage at the paper's activities forced Murdoch to close the paper in 2011 when the scale of the crimes came to light, since when dozens of reporters from his British tabloids have been arrested over allegations of criminal activity.

Activity in China's vast factory sector likely expanded at the fastest pace in eight months in July, a Reuters poll showed on Wednesday, adding to evidence that the economy is regaining momentum after a burst of government stimulus measures. China's official manufacturing purchasing managers' index (PMI) is expected to rise to 51.4 in July, up from June's 51, according to the median forecast of 24 economists in a poll.

By Martin Santa BRUSSELS (Reuters) - Euro zone economic sentiment unexpectedly improved in July despite the deepening crisis between the West and Russia over Ukraine, data showed on Wednesday, and inflation expectations among consumers and companies edged up. Consumer morale rose in three of the euro zone's five biggest economies, led by Italy and followed by France and the Netherlands, while the bloc's growth engine Germany and Spain saw sentiment worsening. The monthly economic sentiment index for the 18 countries sharing the euro rose to 102.2 in July from a revised 102.1 in June. Europe, following months of hesitations, agreed on Tuesday to broad economic sanctions on Russia - its third-biggest trading partner - targeting Moscow's energy, banking and defence sectors over Moscow's support for rebels in eastern Ukraine.

MUMBAI, India (AP) — The world's largest online retailer is facing off in India against a new name in e-commerce that was founded by former Amazon employees.

TOKYO (AP) — World markets were mostly higher Wednesday ahead of U.S. economic data, while cheery earnings from major Japanese companies such as Honda Motor Co. boosted Asian stocks.

MOSCOW (AP) — Russia was counting the potential cost of Western sanctions targeting its key energy and finance sectors on Wednesday, with the central bank promising to support lenders hit with penalties.

TOKYO (AP) — Toyota remains No. 1 in global vehicles sales after the first six months of this year, followed by Volkswagen which bumped General Motors out of second place as the U.S. automaker grapples with a recall scandal.

WASHINGTON (AP) — After a dismal start to the year reflecting a harsh winter, the U.S. economy showed signs of rebounding in the spring, with many forecasters expecting growth to be even stronger in the second half of the year.

MOSCOW (AP) — Russia's central bank promised to support financial institutions hit by U.S. sanctions as stocks took a tumble in Moscow on Wednesday.

With over 6 billion hours of video and thousands of channels, YouTube has something for everyone -- even for those of us who want to become better leaders.Over the last year I've subscribed to a number of YouTube channels that have consistently helped me identify new trends, understand best practices, and spot high-impact opportunities.Here is...

The Beatles' Sergeant Pepper's Lonely Hearts Club Band changed the way people think about music; it is regarded as one of the most pivotal music releases of all time. Pop star Phil Collins said that it opened a door and showed people a new room.But the door had already been opened for the Beatles. Paul McCartney said that the single biggest...

I know. Reading the title of this post makes you uncomfortable, right? It made me uncomfortable to write it. In the business world we are constantly told to keep going, keep pushing, don't quit. It's like a mantra now, "Never surrender, never give up!" And you know what? They're right... until they're wrong. Wait. What?I've been in the...

What if your point of difference was an acute ability to listen?What would that look like?It always amazes me how many people cut me off mid-sentence, and don't even let me get my answer out, after they ask me a direct question.Yes, I recognize listening alone may not set you apart from the competition. From my experience, you may win more...

Internationalization brings indubitable advantages to companies in terms of profitability, performance, commercial growth, finance, human resources, corporate image, risk diversification, etc. hard to cope with alone for a SME given its limited resources and capabilities (EU Commission, 2007).Thus, companies may opt for an internationalization...

If you're reading this, let me start by saying congrats for thinking about starting your own business. We need more people creating great things, changing the world and helping the economy. I wish I had read an article like this before I'd started. The more prepared you are for the bumps in the road, the more you can take them in stride. Go get...

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I write and speak frequently about the personal benefits of serving others, in fact it's one of my favorite things to examine and discuss. Not because I think we should all be selfish, but because I try to embrace things that can help me learn, grow and become the person I am meant to be. And, it's my hope that others feel the same way. After...

Authenticity is what turns a pretty picture into a priceless work of art. Likewise it is what people look for -- or should -- in their personal relationships.I believe this holds true for our relationships with businesses as well; whether as consumers or employees, members of the community, or investors. It is time that we put an end to...

If you're reading this article, chances are you have some sort of connection to the entrepreneur community. Maybe, just maybe, you're even an entrepreneur yourself, aspiring or established. You're looking for food for thought on how to get your business off the ground, and then keep it afloat. If that's the case, here's something to consider:...

History records that when Jackie Robinson, an African-American, a black man was going to be hired to play for the Brooklyn Dodgers on April 15, 1947 by its President Branch Rickey in a time when baseball was a major league sport played by white men, it was a risk that could revolutionize the sport forever but could also sparse very easily more...

I will never forget the first time I spoke on stage. I was so nervous. My biggest source of worry was "what will everyone think of me?" After all I was in my early 30's and most of the folks in the audience had been in business far longer than I. This trend continued for many years. Me speaking to folks who had more business experience and me...

Twitter is an essential platform for businesses marketing to other businesses and it's morphing quickly to a direct response "buy it now" platform functionality like Pinterest and Facebook. I anticipate "social selling" will accelerate moving forward, as social platforms embrace mobile enabled direct commerce and marketers pour more money into...

As a business owner, mom of two, wife, speaker, and consultant, managing each day effectively can be a challenge. I am sure I don't have to tell you. You know. My mind, like yours, is often filled with to-do lists, schedules, and responsibilities. It's easy to feel overwhelmed sometimes, but my secret to mental serenity in the face of a harried...