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Euro zone business activity nears 3-year peak

https://www.cnbc.com/2014/04/23/euro-zone-april-flash-composite-pmi-540-vs-531-forecast-531-in-march.html

2014-04-23T08:50:41+0000

Matt Clinch

CNBC

A nascent recovery in euro zone business activity continued on Wednesday with data managing to beat analysts' expectations, despite slower growth in France and fears of falling prices weighing on sentiment. Markit's flash purchasing managers' index (PMI) for April revealed that the euro zone's composite index rose to 54.0, up from 53.1 in March. A reading above 50 marks an expansion in the private sector. The data was driven by strong growth in Germany, with the composite number rising to 56.3 in April, from 54.3 in March. France saw slower growth in its private sector, but output rose for a second month with a figure of 50.5, down from March's 51.8 reading. Output in the euro zone's second-largest economy was hit by new orders in manufacturing, which stagnated after rising in March. This caused French firms to once again cut back on their staffing levels, according to Markit, the London-based research company that collates the data. The data provided proof that French growth was still "fragile", according to Howard Archer, an economist at IHS Global Insight. This was in marked contrast to the "robust" expansion he suggested the German numbers indicated. Markit Tweet The single currency rose to a session high of $1.3843 shortly after the data release. The euro had started the session at $1.3806. European stock markets showed little change with earnings release in the tech sector continuing to weigh on investor sentiment. Despite the softer data from France, the private sector in the euro area grew at its fastest in just under three years in April, with the bloc as a whole showing signs of a return to job creation. "With backlogs of work rising, albeit only modestly, firms took on more staff in order to expand capacity. The increase in employment was the largest since September 2011, and only the second since 2011. Rates of job creation in both the manufacturing and service sectors were nevertheless only modest as many firms continued to focus on keeping costs low to boost competitiveness," the company said in Wednesday's release. Read MoreQE from ECB? May not be the panacea many hope

cnbc, Articles, Markets, EUR/USD, source:tagname:CNBC Europe Source

<div class="group"><p> A nascent recovery in euro zone business activity continued on Wednesday with data managing to beat analysts' expectations, despite slower growth in France and fears of falling prices weighing on sentiment.</p><p> Markit's flash purchasing managers' index (PMI) for April revealed that the euro zone's composite index rose to 54.0, up from 53.1 in March. A reading above 50 marks an expansion in the private sector.</p><div style="height:100%" class="lazyload-placeholder"></div><p> The data was driven by strong growth in Germany, with the composite number rising to 56.3 in April, from 54.3 in March. France saw slower growth in its private sector, but output rose for a second month with a figure of 50.5, down from March's 51.8 reading. Output in the euro zone's second-largest economy was hit by new orders in manufacturing, which stagnated after rising in March. This caused French firms to once again cut back on their staffing levels, according to Markit, the London-based research company that collates the data.</p><p> The data provided proof that French growth was still "fragile", according to Howard Archer, an economist at IHS Global Insight. This was in marked contrast to the "robust" expansion he suggested the German numbers indicated.</p><p> <a href="https://twitter.com/MarkitEconomics/status/458878248240156672" target="_blank">Markit Tweet</a></p><p> The single currency rose to a session high of $1.3843 shortly after the data release.<strong> <a href="https://www.cnbc.com/quotes/EUR=">The euro</a> </strong>had started the session at $1.3806. European stock markets showed little change with earnings release in the tech sector continuing to weigh on investor sentiment.</p><p> Despite the softer data from France, the private sector in the euro area grew at its fastest in just under three years in April, with the bloc as a whole showing signs of a return to job creation.</p><div style="height:100%" class="lazyload-placeholder"></div><p> "With backlogs of work rising, albeit only modestly, firms took on more staff in order to expand capacity. The increase in employment was the largest since September 2011, and only the second since 2011. Rates of job creation in both the manufacturing and service sectors were nevertheless only modest as many firms continued to focus on keeping costs low to boost competitiveness," the company said in Wednesday's release.</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/04/23/qe-from-ecb-may-not-be-the-panacea-many-hope.html">QE from ECB? May not be the panacea many hope </a></p></div>,<div class="group"><p> Chris Williamson, Markit's chief economist added that these PMIs mean that <a href="https://www.cnbc.com/2011/11/03/gross-domestic-product-cnbc-explains.html">GDP (gross domestic product)</a> for the euro zone is on course to rise by 0.5 percent in the second quarter, building on a 0.4 percent rise in the first quarter.</p><p> "Perhaps the best news came from the rest of the region, where the fastest rate of growth seen since early-2011 suggests that the recovery in the 'periphery' is gaining traction," he said.</p><p> As well as the worse-than-expected French data, Williamson said the outlook for prices is a concern. The euro bloc has recently posted some weak growth in consumer prices and market watchers have warned against the threat of dwindling inflation and the possibility of deflation - where consumer prices start to fall.</p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/04/23/portugal-sells-750-million-euros-in-10-year-bonds-in-first-auction.html">Portugal set for bond auction, first since bailout</a></p><p> The <a href="https://www.cnbc.com/2011/10/20/european-central-bank-cnbc-explains.html">European Central Bank (ECB)</a> has said that it is monitoring the situation and has hinted that it would be ready to act if this weakness continued. Williamson said that Markit's data showed prices falling at their fastest pace since last August despite the upturn in activity.</p><p> "There will be growing fears that deflationary pressures are intensifying and that the ECB needs to respond with more than just words to the recent appreciation of the exchange rate," he said.</p></div>

A nascent recovery in euro zone business activity continued on Wednesday with data managing to beat analysts' expectations, despite slower growth in France and fears of falling prices weighing on sentiment. Markit's flash purchasing managers' index (PMI) for April revealed that the euro zone's composite index rose to 54.0, up from 53.1 in March. A reading above 50 marks an expansion in the private sector. The data was driven by strong growth in Germany, with the composite number rising to 56.3 in April, from 54.3 in March. France saw slower growth in its private sector, but output rose for a second month with a figure of 50.5, down from March's 51.8 reading. Output in the euro zone's second-largest economy was hit by new orders in manufacturing, which stagnated after rising in March. This caused French firms to once again cut back on their staffing levels, according to Markit, the London-based research company that collates the data. The data provided proof that French growth was still "fragile", according to Howard Archer, an economist at IHS Global Insight. This was in marked contrast to the "robust" expansion he suggested the German numbers indicated. Markit Tweet The single currency rose to a session high of $1.3843 shortly after the data release. The euro had started the session at $1.3806. European stock markets showed little change with earnings release in the tech sector continuing to weigh on investor sentiment. Despite the softer data from France, the private sector in the euro area grew at its fastest in just under three years in April, with the bloc as a whole showing signs of a return to job creation. "With backlogs of work rising, albeit only modestly, firms took on more staff in order to expand capacity. The increase in employment was the largest since September 2011, and only the second since 2011. Rates of job creation in both the manufacturing and service sectors were nevertheless only modest as many firms continued to focus on keeping costs low to boost competitiveness," the company said in Wednesday's release. Read MoreQE from ECB? May not be the panacea many hope Chris Williamson, Markit's chief economist added that these PMIs mean that GDP (gross domestic product) for the euro zone is on course to rise by 0.5 percent in the second quarter, building on a 0.4 percent rise in the first quarter. "Perhaps the best news came from the rest of the region, where the fastest rate of growth seen since early-2011 suggests that the recovery in the 'periphery' is gaining traction," he said. As well as the worse-than-expected French data, Williamson said the outlook for prices is a concern. The euro bloc has recently posted some weak growth in consumer prices and market watchers have warned against the threat of dwindling inflation and the possibility of deflation - where consumer prices start to fall.Read MorePortugal set for bond auction, first since bailout The European Central Bank (ECB) has said that it is monitoring the situation and has hinted that it would be ready to act if this weakness continued. Williamson said that Markit's data showed prices falling at their fastest pace since last August despite the upturn in activity. "There will be growing fears that deflationary pressures are intensifying and that the ECB needs to respond with more than just words to the recent appreciation of the exchange rate," he said.

2021-10-30 14:12:15.844028

CSI Mad Money: Cramer's 5 stocks left for dead

https://www.cnbc.com/2014/08/26/csi-mad-money-cramers-5-stocks-left-for-dead.html

2014-08-26T22:34:36+0000

Lee Brodie

CNBC

Sure you've heard about those CSI shows on other networks. But at "Mad Money," CSI stands for Cramer's stock investigation."This is where we do an in-depth analysis of groups that have been left for dead by the market," said Jim Cramer dressed suspiciously like Nick Stokes.As we first discover Cramer, he's in his lab, err office, closely examining the flesh and bones of five familiar names: DSW, Sears, Lands' End, Abercrombie & Fitch and Ann Taylor. "These are all stocks that, at some point this year, were brutally slaughtered. But that's where the similarity ends. Some of these retailers are knocking on death's door, while others are bouncing back to life with a vengeance." Cramer said.Following is Cramer's analysis:

cnbc, Articles, Designer Brands Inc, Sears Holdings Corp, Lands End Inc, Abercrombie & Fitch Co, Ann Taylor, U.S. Business Day, S&P 500, CNBC TV, Mad Money, source:tagname:CNBC US Source

<div class="group"><p> Sure you've heard about those CSI shows on other networks. But at "Mad Money," CSI stands for Cramer's stock investigation.</p><p><span>"This is where we do an in-depth analysis of groups that have been left for dead by the market," said Jim Cramer dressed suspiciously like Nick Stokes.</span><br></p><div style="height:100%" class="lazyload-placeholder"></div><p><span>As we first discover Cramer, he's in his lab, err office, closely examining the flesh and bones of five familiar names: DSW, Sears, Lands' End, Abercrombie &amp; Fitch and Ann Taylor.</span><br></p><p> "These are all stocks that, at some point this year, were brutally slaughtered. But that's where the similarity ends. Some of these retailers are knocking on death's door, while others are bouncing back to life with a vengeance." Cramer said.</p><p><span>Following is Cramer's analysis:</span><br></p><br><br><br></div>,<div class="group"><p> <strong>DSW </strong></p><p> For<a href="//www.cnbc.com/quotes/DBI" target="_blank"> DSW</a> shareholders, the crime occurred at the end of May when the shoe seller reported a disappointing quarter and shares fell from $32 down to $23 in a single session. </p><div style="height:100%" class="lazyload-placeholder"></div><p> "Pretty much everybody bailed on DSW after that, Cramer said. But last month I told you DSW was merely the victim of transient fashion issues and bad weather and that a comeback was on the way. Sure enough, when <!-- --> last night, it blew away the numbers, beating Wall Street's sales and earnings forecasts and raising its full-year guidance."<br></p><p> <span>In turn, shares march sharply higher, gaining about 10 percent in a single session. "No autopsy needed here." added Cramer with a sly smile, "except for those poor short sellers who are now in a world of hurt."</span><br></p><p> <span><strong>Sears</strong></span><br></p><p> Going into the quarter, Cramer said <a href="//www.cnbc.com/quotes/SHLDQ" target="_blank">Sears</a> didn't have much of a pulse. "Then, the final blow was delivered last Thursday when the company reported a larger than expected loss and missed the estimates across the board, sending the stock down 7 percent in one day."</p><p> Looking at the metrics, there appear to be few signs of health.</p><p> "This was the company's sixth consecutive <!-- -->, and they lost twice as much money as they did a year ago. And Sears is not just earnings challenged, it's sales challenged, too; its revenues were down 10 percent year over year."</p><p> <span>To make matters all the more concerning, the company reported a cash balance of $824 million. "That may seem like a big improvement from the $671 million it had a year earlier, however, Sears spun-off its Lands' End business earlier this year, giving them a one-time windfall of $515 million. And Sears can only do that once. Back out that money, and the company would only have $314 million of cash, which is a pretty bleak."</span><br></p><p> <span>All told, Sears has seen healthier days. </span><br></p><p> "Put it all together, and you've got a retailer that just has too many problems. The stock is still a 'sell' even down here at just a couple points above its 52-week low," Cramer said</p><p> <span><strong>Lands' End</strong></span><br></p><p> Once a feared goner, Cramer says <a href="//www.cnbc.com/quotes/LE" target="_blank">Lands' End</a> may be the proverbial victim who escaped the clutches of its captor. Well, that may be a little dramatic, but Cramer did say Lands' End looks much better now that it's wriggled free from Sears, which used to own the company.<br></p><p> "For years, Lands' End was stuck inside the Sears empire, passing along its profits and unable to control its own destiny. Now that it's been spun off as an independent company, I think it has a bright future. In its first quarter out of the gate, Lands' End delivered some excellent numbers, including a 48 percent jump in earnings per share. Lands' End now has the freedom and the resources to pursue faster growth, and its stock is cheap, trading at 15 times next year's earnings estimates. In the end, I think it's a survivor, one that's worth buying here."</p><p> <span><strong>Abercrombie &amp; Fitch</strong></span><br></p><p> Cramer sees <a href="//www.cnbc.com/quotes/ANF" target="_blank">Abercrombie &amp; Fitch</a> as akin to the near-death character rising from the grave (and probably scantily clad too!) </p><p> "Inventory levels are starting to stabilize and Abercrombie, along with rivals, are closing stores which reduces supply," Cramer said. That bodes well.</p><p> <span>"While Abercrombie just made a new 52-week high on Tuesday, it's still more than 30 points off its post great recession peak in 2011, and I think it could have a lot more upside."</span><br></p><p> --------------------------------------------------------------<br> Read more from Mad Money with Jim Cramer<br> <a href="https://www.cnbc.com/2014/08/25/once-promising-5-stocks-give-cramer-indigestion.html">5 stocks give Cramer indigestion</a><br> <a href="https://www.cnbc.com/2014/08/25/ceo-decline-in-our-stock-buying-opportunity.html">CEO: Stock decline buying opportunity</a><br> <a href="https://www.cnbc.com/2014/08/25/cramer-pharma-giant-with-room-to-run.html">Pharma firm with room to run</a><u><br></u>--------------------------------------------------------------<span><br> </span></p><p> <span><strong>Ann Taylor</strong></span><br></p><p><a href="//www.cnbc.com/quotes/undefined" target="_blank"> Ann Taylor</a> may be like the victim who was rescued at the last minute, by two watchful strangers. However, in this case the strangers are Engine Capital and Red Alder, two large shareholders who have urged the board of ANN to<!-- -->, including selling itself, in order to unlock value.</p><p> "Over and over again this year we've seen activist investors push all sorts of companies to create value for their shareholders, so I'm intrigued by this situation, especially since the potential activists at Engine Capital believe ANN could be worth $50 to $55 a share, as much as 31 percent higher than where the stock's currently trading," Cramer said. </p><p> <span>"Ann has historically been a pretty strong operator, and if the company doesn't want to sell itself, it has plenty of other options. For example, Ann has a pristine balance sheet, so it could easily borrow a ton of money at very low rates in order to finance a gigantic buyback. Just a lot that could go right here, although given the run-up over the last two days, I think you should wait for a pullback before you pull the trigger on this one."</span></p></div>,<div class="group"><p><a href="https://www.cnbc.com/video/2014/08/26/cramer-stock-investigation-dsw-shld-anf-ann.html">(Click for video of this Mad Money segment)</a></p><p>Call Cramer: 1-800-743-CNBC<br></p><p> Questions for Cramer? madmoney@cnbc.com </p><p> Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com</p></div>

Sure you've heard about those CSI shows on other networks. But at "Mad Money," CSI stands for Cramer's stock investigation."This is where we do an in-depth analysis of groups that have been left for dead by the market," said Jim Cramer dressed suspiciously like Nick Stokes.As we first discover Cramer, he's in his lab, err office, closely examining the flesh and bones of five familiar names: DSW, Sears, Lands' End, Abercrombie & Fitch and Ann Taylor. "These are all stocks that, at some point this year, were brutally slaughtered. But that's where the similarity ends. Some of these retailers are knocking on death's door, while others are bouncing back to life with a vengeance." Cramer said.Following is Cramer's analysis: DSW For DSW shareholders, the crime occurred at the end of May when the shoe seller reported a disappointing quarter and shares fell from $32 down to $23 in a single session. "Pretty much everybody bailed on DSW after that, Cramer said. But last month I told you DSW was merely the victim of transient fashion issues and bad weather and that a comeback was on the way. Sure enough, when last night, it blew away the numbers, beating Wall Street's sales and earnings forecasts and raising its full-year guidance." In turn, shares march sharply higher, gaining about 10 percent in a single session. "No autopsy needed here." added Cramer with a sly smile, "except for those poor short sellers who are now in a world of hurt." Sears Going into the quarter, Cramer said Sears didn't have much of a pulse. "Then, the final blow was delivered last Thursday when the company reported a larger than expected loss and missed the estimates across the board, sending the stock down 7 percent in one day." Looking at the metrics, there appear to be few signs of health. "This was the company's sixth consecutive , and they lost twice as much money as they did a year ago. And Sears is not just earnings challenged, it's sales challenged, too; its revenues were down 10 percent year over year." To make matters all the more concerning, the company reported a cash balance of $824 million. "That may seem like a big improvement from the $671 million it had a year earlier, however, Sears spun-off its Lands' End business earlier this year, giving them a one-time windfall of $515 million. And Sears can only do that once. Back out that money, and the company would only have $314 million of cash, which is a pretty bleak." All told, Sears has seen healthier days. "Put it all together, and you've got a retailer that just has too many problems. The stock is still a 'sell' even down here at just a couple points above its 52-week low," Cramer said Lands' End Once a feared goner, Cramer says Lands' End may be the proverbial victim who escaped the clutches of its captor. Well, that may be a little dramatic, but Cramer did say Lands' End looks much better now that it's wriggled free from Sears, which used to own the company. "For years, Lands' End was stuck inside the Sears empire, passing along its profits and unable to control its own destiny. Now that it's been spun off as an independent company, I think it has a bright future. In its first quarter out of the gate, Lands' End delivered some excellent numbers, including a 48 percent jump in earnings per share. Lands' End now has the freedom and the resources to pursue faster growth, and its stock is cheap, trading at 15 times next year's earnings estimates. In the end, I think it's a survivor, one that's worth buying here." Abercrombie & Fitch Cramer sees Abercrombie & Fitch as akin to the near-death character rising from the grave (and probably scantily clad too!) "Inventory levels are starting to stabilize and Abercrombie, along with rivals, are closing stores which reduces supply," Cramer said. That bodes well. "While Abercrombie just made a new 52-week high on Tuesday, it's still more than 30 points off its post great recession peak in 2011, and I think it could have a lot more upside." -------------------------------------------------------------- Read more from Mad Money with Jim Cramer 5 stocks give Cramer indigestion CEO: Stock decline buying opportunity Pharma firm with room to run-------------------------------------------------------------- Ann Taylor Ann Taylor may be like the victim who was rescued at the last minute, by two watchful strangers. However, in this case the strangers are Engine Capital and Red Alder, two large shareholders who have urged the board of ANN to, including selling itself, in order to unlock value. "Over and over again this year we've seen activist investors push all sorts of companies to create value for their shareholders, so I'm intrigued by this situation, especially since the potential activists at Engine Capital believe ANN could be worth $50 to $55 a share, as much as 31 percent higher than where the stock's currently trading," Cramer said. "Ann has historically been a pretty strong operator, and if the company doesn't want to sell itself, it has plenty of other options. For example, Ann has a pristine balance sheet, so it could easily borrow a ton of money at very low rates in order to finance a gigantic buyback. Just a lot that could go right here, although given the run-up over the last two days, I think you should wait for a pullback before you pull the trigger on this one."(Click for video of this Mad Money segment)Call Cramer: 1-800-743-CNBC Questions for Cramer? madmoney@cnbc.com Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

2021-10-30 14:12:16.243072

Australia headed into perfect storm in 2015

https://www.cnbc.com/2014/12/02/australia-headed-into-perfect-storm-in-2015.html

2014-12-03T03:49:43+0000

Ansuya Harjani

CNBC

Australia's economy will undergo a crucial stress test in 2015, faced with a triple whammy from the lagged impact of plunging commodity prices, sharp declines in mining investment and renewed fiscal tightening, says Goldman Sachs. "The challenges are now widely known…but these challenges still lie mainly ahead for Australia rather than behind," Tim Toohey, chief economist, Australia at Goldman Sachs wrote in a note on Wednesday. On top of the these headwinds, the economy also needs to contend with tighter financial conditions and lower levels of housing investment, said Toohey, factors that had previously helped to offset the slump in the mining sector. The bank expects gross domestic product (GDP) growth to average just 2.0 percent next year, down from an estimated 2.9 percent in 2014, as the economy continues to search for new growth drivers. Read MoreAustralia's economy slows in Q3 The decline in mining investment will continue to be a major drag on the economy, leaving commodity exports and consumption to pick up the slack, the bank said. Australia's third quarter GDP data published on Wednesday pointed to a sluggish domestic economy, suggesting rebalancing away from mining-driven growth is taking longer than hoped. The economy expanded 2.7 percent on year in the three months to September, undershooting expectations for growth of 3.1 percent, as construction spending fell while sliding export prices hit incomes.

cnbc, Articles, Business News, Economy, source:tagname:CNBC Asia Source

<div class="group"><p> Australia's economy will undergo a crucial stress test in 2015, faced with a triple whammy from the lagged impact of plunging commodity prices, sharp declines in mining investment and renewed fiscal tightening, says Goldman Sachs.</p><p> "The challenges are now widely known…but these challenges still lie mainly ahead for Australia rather than behind," Tim Toohey, chief economist, Australia at Goldman Sachs wrote in a note on Wednesday.</p><div style="height:100%" class="lazyload-placeholder"></div><p> On top of the these headwinds, the economy also needs to contend with tighter financial conditions and lower levels of housing investment, said Toohey, factors that had previously helped to offset the slump in the mining sector.</p><p> The bank expects gross domestic product (GDP) growth to average just 2.0 percent next year, down from an estimated 2.9 percent in 2014, as the economy continues to search for new growth drivers.</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/12/02/australia-q3-real-gdp-03-on-quarter-versus-07-forecast.html">Australia's economy slows in Q3</a></p><p> The decline in mining investment will continue to be a major drag on the economy, leaving commodity exports and consumption to pick up the slack, the bank said.<br></p><p> Australia's third quarter GDP data published on Wednesday pointed to a sluggish domestic economy, suggesting rebalancing away from mining-driven growth is taking longer than hoped. </p><div style="height:100%" class="lazyload-placeholder"></div><p> The economy expanded 2.7 percent on year in the three months to September, undershooting expectations for growth of 3.1 percent, as construction spending fell while sliding export prices hit incomes.</p></div>,<div class="group"><p> "This GDP result concurs broadly with the perceived wisdom on the Australian economy, albeit with perhaps a little more domestic weakness than expected, said David de Garis, director and senior economist at National Australia Bank.</p><p> "Investment is weakening as major mining projects complete, while an extended terms of trade fall is driving weakness in real domestic income," de Garis said.</p><p> <strong>RBA's next move</strong></p><p> As Australia navigates a tricky rebalancing act, Goldman expects the Reserve Bank of Australia (RBA) to stand pat on monetary policy until March 2016, when it forecasts the central bank will commence raising interest rates.</p><p> The bank previously expected the RBA to hike rates by 25 basis points in the fourth quarter of 2015.</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/12/01/australia-holds-rates-steady-at-25-percent.html">Australia holds rates as speculation for cuts mounts</a><br></p><p> The central bank on Tuesday kept rates at a record-low 2.5 percent, and maintained its rhetoric for a period of stability for rates.</p><p> However, some economists believe weak growth, slowing inflation and a rising jobless rate could pressure the RBA to ease monetary policy further.</p><p> Earlier this week, Deutsche Bank released a report titled "Australia: Change of Call," which predicts the RBA will cut rates by 50 basis points to 2 percent next year, a shift from its earlier stance of no change.</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/11/19/why-rbas-move-to-cool-housing-could-backfire.html">Why RBA's move to cool housing could backfire</a><br></p><p> In this environment, the beleaguered Australian dollar is expected to remain on its downtrend.</p><p> Goldman expects the currency to fall to $0.86, $0.85 and $0.82 on 3, 6 and 12-month views, respectively, from $0.84 currently.</p><p> Meanwhile, the country's stock market is poised for moderate gains.</p><p> The benchmark ASX-200, among the worst performing markets this year, is forecast to rise 9 percent to 5,700 by end 2015, according to the bank.</p></div>

Australia's economy will undergo a crucial stress test in 2015, faced with a triple whammy from the lagged impact of plunging commodity prices, sharp declines in mining investment and renewed fiscal tightening, says Goldman Sachs. "The challenges are now widely known…but these challenges still lie mainly ahead for Australia rather than behind," Tim Toohey, chief economist, Australia at Goldman Sachs wrote in a note on Wednesday. On top of the these headwinds, the economy also needs to contend with tighter financial conditions and lower levels of housing investment, said Toohey, factors that had previously helped to offset the slump in the mining sector. The bank expects gross domestic product (GDP) growth to average just 2.0 percent next year, down from an estimated 2.9 percent in 2014, as the economy continues to search for new growth drivers. Read MoreAustralia's economy slows in Q3 The decline in mining investment will continue to be a major drag on the economy, leaving commodity exports and consumption to pick up the slack, the bank said. Australia's third quarter GDP data published on Wednesday pointed to a sluggish domestic economy, suggesting rebalancing away from mining-driven growth is taking longer than hoped. The economy expanded 2.7 percent on year in the three months to September, undershooting expectations for growth of 3.1 percent, as construction spending fell while sliding export prices hit incomes. "This GDP result concurs broadly with the perceived wisdom on the Australian economy, albeit with perhaps a little more domestic weakness than expected, said David de Garis, director and senior economist at National Australia Bank. "Investment is weakening as major mining projects complete, while an extended terms of trade fall is driving weakness in real domestic income," de Garis said. RBA's next move As Australia navigates a tricky rebalancing act, Goldman expects the Reserve Bank of Australia (RBA) to stand pat on monetary policy until March 2016, when it forecasts the central bank will commence raising interest rates. The bank previously expected the RBA to hike rates by 25 basis points in the fourth quarter of 2015. Read MoreAustralia holds rates as speculation for cuts mounts The central bank on Tuesday kept rates at a record-low 2.5 percent, and maintained its rhetoric for a period of stability for rates. However, some economists believe weak growth, slowing inflation and a rising jobless rate could pressure the RBA to ease monetary policy further. Earlier this week, Deutsche Bank released a report titled "Australia: Change of Call," which predicts the RBA will cut rates by 50 basis points to 2 percent next year, a shift from its earlier stance of no change. Read MoreWhy RBA's move to cool housing could backfire In this environment, the beleaguered Australian dollar is expected to remain on its downtrend. Goldman expects the currency to fall to $0.86, $0.85 and $0.82 on 3, 6 and 12-month views, respectively, from $0.84 currently. Meanwhile, the country's stock market is poised for moderate gains. The benchmark ASX-200, among the worst performing markets this year, is forecast to rise 9 percent to 5,700 by end 2015, according to the bank.

2021-10-30 14:12:16.281117

Akzo Nobel says CEO Ton Buechner has stepped down due to health reasons

https://www.cnbc.com/2017/07/19/akzo-nobel-ceo-ton-buchner-steps-down-with-immediate-effect.html

2017-07-19T05:07:43+0000

Matt Clinch

CNBC

Chief Executive Ton Buechner has stepped down with immediate effect due to health reasons, the company announced on Wednesday morning.Thierry Vanlancker, previously the head of Specialty Chemicals at Akzo Nobel, will be the new CEO for the Dutch paints company.Buechner joined the company in 2012 and has been responsible for "significantly improving the performance of the company, increasing profitability and cash flow to record levels," Akzo Nobel said in a statement. "It is with great regret that Ton is stepping down due to health reasons. He has been an outstanding leader for Akzo Nobel, transforming the company and setting it up for future success. His focus on delivering for our customers and operational excellence has driven profitability to record levels, increasing returns to shareholders," Chairman Antony Burgmans, said in a statement.

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<div class="group"><p> Chief Executive Ton Buechner has stepped down with immediate effect due to health reasons, the company announced on Wednesday morning.</p><p>Thierry Vanlancker, previously the head of Specialty Chemicals at Akzo Nobel, will be the new CEO for the Dutch paints company.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Buechner joined the company in 2012 and has been responsible for "significantly improving the performance of the company, increasing profitability and cash flow to record levels," Akzo Nobel said in a statement.<strong><br> </strong></p><p>"It is with great regret that Ton is stepping down due to health reasons. He has been an outstanding leader for Akzo Nobel, transforming the company and setting it up for future success. His focus on delivering for our customers and operational excellence has driven profitability to record levels, increasing returns to shareholders," Chairman Antony Burgmans, said in a statement.</p></div>,<div class="group"><p>On a subsequent media call, Burgmans declined to go into details of Buechner's medical condition. "I'm not a doctor and I don't speculate about his medical details," he said. "It would be disrespectful if we went into details ... Considering the difficulty of the decision I think we have to respect that."</p><p>Burgmans did explain that it was more of a preemptive decision that Buechner had taken very recently. Buechner felt that if he continued his work and subject himself to the pressure that the job entails then it could have had a detrimental effect on his health, according to the chairman.</p><p>The outgoing chief earlier this year repelled a takeover attempt from U.S. rival PPG Industries. In September 2012, Buechner stepped down briefly from his role after what was described as "over-tiredness", according to Reuters.</p></div>

Chief Executive Ton Buechner has stepped down with immediate effect due to health reasons, the company announced on Wednesday morning.Thierry Vanlancker, previously the head of Specialty Chemicals at Akzo Nobel, will be the new CEO for the Dutch paints company.Buechner joined the company in 2012 and has been responsible for "significantly improving the performance of the company, increasing profitability and cash flow to record levels," Akzo Nobel said in a statement. "It is with great regret that Ton is stepping down due to health reasons. He has been an outstanding leader for Akzo Nobel, transforming the company and setting it up for future success. His focus on delivering for our customers and operational excellence has driven profitability to record levels, increasing returns to shareholders," Chairman Antony Burgmans, said in a statement.On a subsequent media call, Burgmans declined to go into details of Buechner's medical condition. "I'm not a doctor and I don't speculate about his medical details," he said. "It would be disrespectful if we went into details ... Considering the difficulty of the decision I think we have to respect that."Burgmans did explain that it was more of a preemptive decision that Buechner had taken very recently. Buechner felt that if he continued his work and subject himself to the pressure that the job entails then it could have had a detrimental effect on his health, according to the chairman.The outgoing chief earlier this year repelled a takeover attempt from U.S. rival PPG Industries. In September 2012, Buechner stepped down briefly from his role after what was described as "over-tiredness", according to Reuters.

2021-10-30 14:12:16.317385

Romney Comment on Olympics Riles Britain

https://www.cnbc.com/2012/07/26/romney-comment-on-olympics-riles-britain.html

2012-07-26T17:14:23+0000

CNBC

Republican presidential candidate Mitt Romney caused a stir in Britain on Thursday by questioning whether the country is prepared to host the Olympic Games without a hitch and scheduling a fundraiser with the former head of a troubled bank.

cnbc, Articles, Election 2012, source:tagname:The Associated Press

<div class="group"><p>Republican presidential candidate Mitt Romney caused a stir in Britain on Thursday by questioning whether the country is prepared to host the Olympic Games without a hitch and scheduling a fundraiser with the former head of a troubled bank. </p></div>,<div class="group"><p>The former Massachusetts governor visited with British political leaders as part of a larger effort to show he has what it takes to represent the U.S. on the world stage. But instead of highlighting ties with the America's staunchest ally, Romney may have embarrassed the Brits instead.</p><div style="height:100%" class="lazyload-placeholder"></div><p>British Prime Minister David Cameron offered a blunt retort to Romney and other doubters, saying they will "see beyond doubt that Britain can deliver." </p><p>The stir came on the first full day of Romney's first international tour as the GOP's presumptive presidential nominee. With the U.S. still fighting one war and facing foreign policy challenges across the globe, Romney is seeking to convince American voters that he's prepared to serve as commander and chief, despite limited foreign policy experience. </p><p>He is visiting three allies, including Israel and Poland, on the trip, appearing Friday at the Olympic opening ceremonies to help remind voters of his personal Olympic experience. Romney led the 2002 Winter Games in Salt Lake City, and used the games to launch his political career. </p><p>But his foreign trip got off to a shaky start. </p><p> openly doubted whether Britain could handle the games, saying it was unclear whether issues that have dogged the final preparations could be overcome. </p><div style="height:100%" class="lazyload-placeholder"></div><p>"It's hard to know just how well it will turn out," Romney told NBC News in an interview on Wednesday, two days before the opening ceremonies. </p></div>,<div class="group"><p>He later met with Cameron and they discussed the Olympics as well as Afghanistan and Syria, among other countries. </p><p>Romney declined to answer questions on whether the West should do more to intervene in Syria, suggesting that he didn't "want to describe foreign policy positions I may have while I'm on foreign soil." </p><p>Earlier Thursday, Romney and Cameron seemed to address each other through the media after Romney doubted Britain's preparedness for the Olympics. Romney suggested it's impossible for any Olympic Games to go off without a hitch; Cameron said Romney and others would soon see that England is up to the challenge. </p><p>Romney backed off his initial comment after meeting with Cameron. </p><p>"I expect the games to be highly successful," Romney declared after the meeting. </p><p>At the same time, Romney faced scrutiny for a London fundraiser Thursday night that's expected to attract employees of Barclays, which has been in the spotlight after becoming the first bank to admit its employees were involved in manipulating a key interest rate. </p><p>Last month, U.S. and British agencies fined Barclays a total of $453 million. In the wake of that shock, chief executive <!-- -->. Diamond had been scheduled to attend the fundraiser at the Mandarin Oriental hotel in the tony Knightsbridge district, but has pulled out. He already had sent Romney a check for $2,500. </p><p>Romney sought to steer the conversation away from the controversies. </p><p>"The world is a tumultuous and dangerous place," Romney said Thursday. "And certainly in many of the regions around the world we have great interests in having a common effort in seeing greater peace and prosperity." </p><p>As he met with British leaders past and present, the Republican also praised "the unique relationship that exists between our nations, our commitment to common values, our commitment to peace in the world and a desire to see a stronger and growing economy." </p><p>Romney, whose decades in private business gave him ample exposure to international affairs, is a former one-term governor untested on the world's political stage. He hopes to convince voters back home that he is no novice on foreign affairs and that they should feel confident electing him as president in a complex world and with the U.S. facing a myriad of security threats. </p><p>During the public portion of his meeting with Cameron, Romney weighed in again after his comment about the Olympics drew attention across Britain. "It is impossible for absolutely no mistakes to occur," he said. "Of course there will be errors from time to time, but those are all overshadowed by the extraordinary demonstrations of courage, character and determination by the athletes." </p><p>Meeting with British officials is typically one of the first priorities of any new president, and establishing those relationships beforehand can help smooth any transition. It's not unusual for American presidential candidates to meet with British leaders during the campaign; President Barack <!-- --> did so when he took a trip abroad as the likely Democratic nominee in 2008. </p><p>Romney's weeklong trip also will take him to Israel and Poland. </p><p>On Thursday, Romney also met with former Prime Minister Tony Blair; Ed Miliband, the current leader of the Labour Party — the opposition to Cameron's Conservative Party; and Foreign Secretary William Hague. The candidate also met with Nick Clegg, the deputy prime minister, and Chancellor of the Exchequer George Osborne, Britain's top financial official. </p><p>On Friday, Romney is scheduled to attend the opening ceremonies of the London Games. </p><p>This wasn't Romney's first meeting with Cameron; the two talked when Romney visited London in 2011. Cameron visited the U.S. earlier this year to meet with Obama and attended a White House state dinner, but he did not meet with Romney. </p><p>The meetings come a day after the Daily Telegraph published a story quoting an unidentified Romney campaign adviser saying the Republican believes the U.S. relationship with Britain is special because of shared "Anglo-Saxon heritage" that the adviser said the White House doesn't appreciate. </p><p>Romney, however, quickly distanced himself from any such view. </p><p>"I don't agree with whoever that adviser might be," Romney told NBC News, "but do agree that we have a very common bond between ourselves and Great Britain." </p><p>Nonetheless, Vice President Joe Biden and top Obama aides criticized Romney. "The comments reported this morning are a disturbing start to a trip designed to demonstrate Gov. Romney's readiness to represent the United States on the world's stage," Biden said. </p><p>Accompanying Romney to some of his meetings Thursday were former Missouri Sen. Jim Talent, an adviser, and Kerry Healey, who served as lieutenant governor when Romney was governor of Massachusetts. Three of Romney's sons — Tagg, Josh and Craig — also have joined him in London. </p></div>

Republican presidential candidate Mitt Romney caused a stir in Britain on Thursday by questioning whether the country is prepared to host the Olympic Games without a hitch and scheduling a fundraiser with the former head of a troubled bank. The former Massachusetts governor visited with British political leaders as part of a larger effort to show he has what it takes to represent the U.S. on the world stage. But instead of highlighting ties with the America's staunchest ally, Romney may have embarrassed the Brits instead.British Prime Minister David Cameron offered a blunt retort to Romney and other doubters, saying they will "see beyond doubt that Britain can deliver." The stir came on the first full day of Romney's first international tour as the GOP's presumptive presidential nominee. With the U.S. still fighting one war and facing foreign policy challenges across the globe, Romney is seeking to convince American voters that he's prepared to serve as commander and chief, despite limited foreign policy experience. He is visiting three allies, including Israel and Poland, on the trip, appearing Friday at the Olympic opening ceremonies to help remind voters of his personal Olympic experience. Romney led the 2002 Winter Games in Salt Lake City, and used the games to launch his political career. But his foreign trip got off to a shaky start. openly doubted whether Britain could handle the games, saying it was unclear whether issues that have dogged the final preparations could be overcome. "It's hard to know just how well it will turn out," Romney told NBC News in an interview on Wednesday, two days before the opening ceremonies. He later met with Cameron and they discussed the Olympics as well as Afghanistan and Syria, among other countries. Romney declined to answer questions on whether the West should do more to intervene in Syria, suggesting that he didn't "want to describe foreign policy positions I may have while I'm on foreign soil." Earlier Thursday, Romney and Cameron seemed to address each other through the media after Romney doubted Britain's preparedness for the Olympics. Romney suggested it's impossible for any Olympic Games to go off without a hitch; Cameron said Romney and others would soon see that England is up to the challenge. Romney backed off his initial comment after meeting with Cameron. "I expect the games to be highly successful," Romney declared after the meeting. At the same time, Romney faced scrutiny for a London fundraiser Thursday night that's expected to attract employees of Barclays, which has been in the spotlight after becoming the first bank to admit its employees were involved in manipulating a key interest rate. Last month, U.S. and British agencies fined Barclays a total of $453 million. In the wake of that shock, chief executive . Diamond had been scheduled to attend the fundraiser at the Mandarin Oriental hotel in the tony Knightsbridge district, but has pulled out. He already had sent Romney a check for $2,500. Romney sought to steer the conversation away from the controversies. "The world is a tumultuous and dangerous place," Romney said Thursday. "And certainly in many of the regions around the world we have great interests in having a common effort in seeing greater peace and prosperity." As he met with British leaders past and present, the Republican also praised "the unique relationship that exists between our nations, our commitment to common values, our commitment to peace in the world and a desire to see a stronger and growing economy." Romney, whose decades in private business gave him ample exposure to international affairs, is a former one-term governor untested on the world's political stage. He hopes to convince voters back home that he is no novice on foreign affairs and that they should feel confident electing him as president in a complex world and with the U.S. facing a myriad of security threats. During the public portion of his meeting with Cameron, Romney weighed in again after his comment about the Olympics drew attention across Britain. "It is impossible for absolutely no mistakes to occur," he said. "Of course there will be errors from time to time, but those are all overshadowed by the extraordinary demonstrations of courage, character and determination by the athletes." Meeting with British officials is typically one of the first priorities of any new president, and establishing those relationships beforehand can help smooth any transition. It's not unusual for American presidential candidates to meet with British leaders during the campaign; President Barack did so when he took a trip abroad as the likely Democratic nominee in 2008. Romney's weeklong trip also will take him to Israel and Poland. On Thursday, Romney also met with former Prime Minister Tony Blair; Ed Miliband, the current leader of the Labour Party — the opposition to Cameron's Conservative Party; and Foreign Secretary William Hague. The candidate also met with Nick Clegg, the deputy prime minister, and Chancellor of the Exchequer George Osborne, Britain's top financial official. On Friday, Romney is scheduled to attend the opening ceremonies of the London Games. This wasn't Romney's first meeting with Cameron; the two talked when Romney visited London in 2011. Cameron visited the U.S. earlier this year to meet with Obama and attended a White House state dinner, but he did not meet with Romney. The meetings come a day after the Daily Telegraph published a story quoting an unidentified Romney campaign adviser saying the Republican believes the U.S. relationship with Britain is special because of shared "Anglo-Saxon heritage" that the adviser said the White House doesn't appreciate. Romney, however, quickly distanced himself from any such view. "I don't agree with whoever that adviser might be," Romney told NBC News, "but do agree that we have a very common bond between ourselves and Great Britain." Nonetheless, Vice President Joe Biden and top Obama aides criticized Romney. "The comments reported this morning are a disturbing start to a trip designed to demonstrate Gov. Romney's readiness to represent the United States on the world's stage," Biden said. Accompanying Romney to some of his meetings Thursday were former Missouri Sen. Jim Talent, an adviser, and Kerry Healey, who served as lieutenant governor when Romney was governor of Massachusetts. Three of Romney's sons — Tagg, Josh and Craig — also have joined him in London.

2021-10-30 14:12:16.355458

Have old tax bills with the IRS? Why you should pay them immediately

https://www.cnbc.com/2020/04/23/have-old-tax-bills-with-the-irs-why-you-should-pay-them-immediately.html

2020-04-23T13:45:44+0000

Darla Mercado, CFP®

CNBC

The IRS isn't processing paper returns right now as they deal with distributing coronavirus stimulus checks.While that's not an issue for most taxpayers, who currently have until July 15 to turn in their 2019 federal income tax returns and pay any amounts owed, it is a big problem for people who have to file amended returns. These can only be processed on paper.The solution: if you owe something for prior years, pay it now as penalties and interest continue to pile up.

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<div class="group"><p>The IRS isn't processing paper returns right now as they deal with distributing coronavirus stimulus checks.</p><p>While that's not an issue for most taxpayers, who currently have until July 15 to turn in their 2019 federal income tax returns and pay any amounts owed, it is a big problem for people who have to file amended returns. These can only be processed on paper.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The solution: if you owe something for prior years, pay it now as penalties and interest continue to pile up.</p></div>,<div class="group"><p>"I envision the paper returns in a mailroom somewhere in a big stack," said April Walker, CPA and lead manager for tax practice and ethics at the American Institute of CPAs.</p><p>"The IRS has also said that if you filed the paper return for whatever reason, be it current or amended, don't file another one and <a href="https://www.irs.gov/newsroom/irs-urges-taxpayers-to-use-electronic-options-outlines-online-assistance" target="_blank">don't ask about the status</a> because they won't know," she said.</p><p>Here's a surprise: Just because the IRS won't process your amended return from 2018 or 2017, it doesn't mean you get a break on the liability you may still owe from that year.</p><p>"If you have an amended return and you know you owe money but can only file on paper, then the interest is definitely accruing from the time the amended return was due," said Walker.</p><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p>In addition to interest accruing on your balance owed, you could also be subject to <a href="https://www.irs.gov/faqs/irs-procedures/collection-procedural-questions/collection-procedural-questions-3" target="_blank">a failure-to-pay penalty</a> – 0.5% of the tax owed for each month or part of a month the tax remains unpaid, up to 25%.</p><p>If you're late submitting your return, you're also subject to a failure-to-file penalty. That adds up to 5% of the unpaid tax for each month or part of a month that your return is late.</p><p>Forget cutting a check at this point. Make a <a href="https://www.irs.gov/payments" target="_blank">direct payment</a> to the IRS electronically.</p><p><strong>More from Smart Tax Planning:</strong><br><a href="https://www.cnbc.com/2020/04/14/self-employed-and-need-a-ppp-loan-you-should-wrap-up-your-2019-taxes.html">Need a PPP loan? These applicants need to file their 2019 taxes first</a><br><a href="https://www.cnbc.com/2020/04/08/skipping-a-mandatory-distribution-from-your-ira-what-you-need-to-know.html">Skipping a mandatory distribution from your IRA? What you should know</a><strong><br></strong><a href="https://www.cnbc.com/2020/04/17/this-government-loan-program-has-run-dry-these-people-lost-out.html">The PPP loan has run out, and these people were shut out</a><strong><br></strong><br>"Even though the amended return hasn't been filed, it'll be matched up later," said Walker. "This is a way to help people who are worried about interest and penalties accruing."</p><p>Alternatively, if the amount you owe is so large that you can't pay it in one fell swoop, you can enter an installment agreement with the IRS online. This way, you'll chip away at the balance owed every month.</p><p>If you have an amended return and you found out you're owed a refund from a prior year, congratulations! But you'll have to wait until the IRS begins processing paper returns again.</p><p>"These people have to be patient and wait for the service centers to open up," said Walker.</p></div>

The IRS isn't processing paper returns right now as they deal with distributing coronavirus stimulus checks.While that's not an issue for most taxpayers, who currently have until July 15 to turn in their 2019 federal income tax returns and pay any amounts owed, it is a big problem for people who have to file amended returns. These can only be processed on paper.The solution: if you owe something for prior years, pay it now as penalties and interest continue to pile up."I envision the paper returns in a mailroom somewhere in a big stack," said April Walker, CPA and lead manager for tax practice and ethics at the American Institute of CPAs."The IRS has also said that if you filed the paper return for whatever reason, be it current or amended, don't file another one and don't ask about the status because they won't know," she said.Here's a surprise: Just because the IRS won't process your amended return from 2018 or 2017, it doesn't mean you get a break on the liability you may still owe from that year."If you have an amended return and you know you owe money but can only file on paper, then the interest is definitely accruing from the time the amended return was due," said Walker.In addition to interest accruing on your balance owed, you could also be subject to a failure-to-pay penalty – 0.5% of the tax owed for each month or part of a month the tax remains unpaid, up to 25%.If you're late submitting your return, you're also subject to a failure-to-file penalty. That adds up to 5% of the unpaid tax for each month or part of a month that your return is late.Forget cutting a check at this point. Make a direct payment to the IRS electronically.More from Smart Tax Planning:Need a PPP loan? These applicants need to file their 2019 taxes firstSkipping a mandatory distribution from your IRA? What you should knowThe PPP loan has run out, and these people were shut out"Even though the amended return hasn't been filed, it'll be matched up later," said Walker. "This is a way to help people who are worried about interest and penalties accruing."Alternatively, if the amount you owe is so large that you can't pay it in one fell swoop, you can enter an installment agreement with the IRS online. This way, you'll chip away at the balance owed every month.If you have an amended return and you found out you're owed a refund from a prior year, congratulations! But you'll have to wait until the IRS begins processing paper returns again."These people have to be patient and wait for the service centers to open up," said Walker.

2021-10-30 14:12:16.402393

Buckle up! Stocks in 'risky territory': Bogle

https://www.cnbc.com/2014/03/10/us-stocks-risky-right-now-says-vanguards-jack-bogle.html

2014-03-10T22:01:33+0000

Robert Ferris

CNBC

Markets are entering a dicey phase but most investors should not jump ship now, said index fund pioneer Jack Bogle. The founder of The Vanguard Group, which manages about $2.5 trillion among its various funds, said in an interview on Monday's edition of "Closing Bell" that the underlying value of corporate America will continue to offer investors returns over the long term even if the market suffers a serious plunge. While famed investor Seth Klarman has recently turned bearish, warning of a potentially catastrophic asset price bubble, Bogle thinks investors will be better off steeling their nerves and diversifying, rather than trying to time the market. This is "risky territory," and Klarman is "heck of a lot smarter than I am," Bogle said. As the Fed tapers its asset-buying program and raises currently depressed interest rates, stocks could suffer a drop of as much as 20 or 25 percent, he said. (Watch: Robert Schiller: We have a bubble) But stock markets move in "fits and starts," and the fundamentals underneath stocks are solid. Corporate operating earnings, for example, are up 25 percent from 2007, he said. "What does not move in fits and starts is what the stock market enables you to do, which is own corporate America," he said. And corporate America is likely to grow roughly as fast as nominal GNP—about 5 percent—and dividend yields will hover around 2 percent. Together, that should bring a return of about 7 percent over the long term, which should double an investor's money (before inflation) over the next 10 years, Bogle said.(Watch: Are U.S. equities the biggest bubble?) Rather than getting out of the market, investors should put some money into bonds, as "ballast" against any storms in equities, and prepare themselves psychologically for the trouble that may come. But timing market entries and exits is a fool's errand, Bogle said.—By Robert Ferris, Special to CNBC.com.

cnbc, Articles, Investment strategy, Markets, Stock markets, Wall Street, Investing, stocks, U.S. Markets, Closing Bell, US: News, Finance, source:tagname:CNBC US Source

<div class="group"><p> Markets are entering a dicey phase but most investors should not jump ship now, said index fund pioneer Jack Bogle. </p><p> The founder of The Vanguard Group, which manages about $2.5 trillion among its various funds, said in an interview on Monday's edition of <a href="https://www.cnbc.com/closing-bell/">"Closing Bell"</a><em> </em>that the underlying value of corporate America will continue to offer investors returns over the long term even if the market suffers a serious plunge. </p><div style="height:100%" class="lazyload-placeholder"></div><p> While famed investor Seth Klarman has recently turned bearish, warning of a <a href="https://www.cnbc.com/2014/03/10/klarman-warns-of-impending-asset-price-bubble.html">potentially catastrophic asset price bubble</a>, Bogle thinks investors will be better off steeling their nerves and diversifying, rather than trying to time the market. <br></p><p>This is "risky territory," and Klarman is "heck of a lot smarter than I am," Bogle said. As the Fed tapers its asset-buying program and raises currently depressed interest rates, stocks could suffer a drop of as much as 20 or 25 percent, he said.</p><p> (<em>Watch: </em><a href="https://www.cnbc.com/video/2014/02/25/robert-shiller-we-have-a-bubble.html">Robert Schiller: We have a bubble</a>)<br></p><p> But stock markets move in "fits and starts," and the fundamentals underneath stocks are solid. Corporate operating earnings, for example, are up 25 percent from 2007, he said.</p><p> "What does not move in fits and starts is what the stock market enables you to do, which is own corporate America," he said.<br></p><div style="height:100%" class="lazyload-placeholder"></div><p> And corporate America is likely to grow roughly as fast as nominal GNP—about 5 percent—and dividend yields will hover around 2 percent. Together, that should bring a return of about 7 percent over the long term, which should double an investor's money (before inflation) over the next 10 years, Bogle said.</p><p>(Watch: <a href="https://www.cnbc.com/video/2014/03/03/are-us-equities-the-biggest-bubble.html">Are U.S. equities the biggest bubble?</a>)</p><p> Rather than getting out of the market, investors should put some money into bonds, as "ballast" against any storms in equities, and prepare themselves psychologically for the trouble that may come.</p><p> But timing market entries and exits is a fool's errand, Bogle said.</p><p><em>—By Robert Ferris, Special to CNBC.com.</em></p></div>,<div class="group"><p><br> </p></div>

Markets are entering a dicey phase but most investors should not jump ship now, said index fund pioneer Jack Bogle. The founder of The Vanguard Group, which manages about $2.5 trillion among its various funds, said in an interview on Monday's edition of "Closing Bell" that the underlying value of corporate America will continue to offer investors returns over the long term even if the market suffers a serious plunge. While famed investor Seth Klarman has recently turned bearish, warning of a potentially catastrophic asset price bubble, Bogle thinks investors will be better off steeling their nerves and diversifying, rather than trying to time the market. This is "risky territory," and Klarman is "heck of a lot smarter than I am," Bogle said. As the Fed tapers its asset-buying program and raises currently depressed interest rates, stocks could suffer a drop of as much as 20 or 25 percent, he said. (Watch: Robert Schiller: We have a bubble) But stock markets move in "fits and starts," and the fundamentals underneath stocks are solid. Corporate operating earnings, for example, are up 25 percent from 2007, he said. "What does not move in fits and starts is what the stock market enables you to do, which is own corporate America," he said. And corporate America is likely to grow roughly as fast as nominal GNP—about 5 percent—and dividend yields will hover around 2 percent. Together, that should bring a return of about 7 percent over the long term, which should double an investor's money (before inflation) over the next 10 years, Bogle said.(Watch: Are U.S. equities the biggest bubble?) Rather than getting out of the market, investors should put some money into bonds, as "ballast" against any storms in equities, and prepare themselves psychologically for the trouble that may come. But timing market entries and exits is a fool's errand, Bogle said.—By Robert Ferris, Special to CNBC.com.

2021-10-30 14:12:16.503279

Twitter's former 'Mr. Fixit' takes over analytics start-up Mixpanel as 29-year-old CEO steps down

https://www.cnbc.com/2018/04/23/mixpanel-amir-movafaghi-ex-twitter-replaces-suhail-doshi-as-ceo.html

2018-04-24T18:00:00+0000

Ari Levy

CNBC

Suhail Doshi started software developer Mixpanel in 2009 after dropping his studies at Arizona State University to join the Y Combinator accelerator program. He was 20 years old.Now, after more than nine years running the data analytics company and dealing with the many highs and lows of Silicon Valley entrepreneur life, Doshi is taking a step back.On Tuesday, Doshi is informing Mixpanel's 300 employees at a companywide meeting that he's handing over the CEO role to Amir Movafaghi, the company's head of finance and operations. Doshi will become chairman of the board."I just need a break," Doshi told CNBC. "It's been a marathon."With the help of an executive search firm, Doshi went looking for his successor, and in the end decided to promote Movafaghi, who joined the company last year. Prior to Mixpanel, Movafaghi was CFO at software company Spiceworks and before that spent five years at Twitter in finance and global operations.Doshi said the one reference call he made before hiring Movafaghi was to former Twitter CEO Dick Costolo. At Twitter, Movafaghi was Costolo's right-hand man."He was the Mr. Fixit at Twitter when there were a whole bunch of problems that others weren't willing to fix," Doshi said. "He's the perfect person to lead Mixpanel into the future."

cnbc, Articles, Silicon Valley, Start-up, Venture capital, PayPal Holdings Inc, Adobe Inc., Alphabet Class A, Intuit Inc, Twitter Inc, Technology, Mobile, Social media, Start-ups, Venture Capital, source:tagname:CNBC US Source

<div class="group"><p>Suhail Doshi started software developer <a href="https://mixpanel.com/" target="_blank">Mixpanel</a> in 2009 after dropping his studies at Arizona State University to join the Y Combinator accelerator program. He was 20 years old.</p><p>Now, after more than nine years running the data analytics company and dealing with the many highs and lows of Silicon Valley entrepreneur life, Doshi is taking a step back.</p><div style="height:100%" class="lazyload-placeholder"></div><p>On Tuesday, Doshi is informing Mixpanel's 300 employees at a companywide meeting that he's handing over the CEO role to <a href="https://www.linkedin.com/in/amir-movafaghi-0549a94/" target="_blank">Amir Movafaghi</a>, the company's head of finance and operations. Doshi will become chairman of the board.</p><p>"I just need a break," Doshi told CNBC. "It's been a marathon."</p><p>With the help of an executive search firm, Doshi went looking for his successor, and in the end decided to promote Movafaghi, who joined the company last year. Prior to Mixpanel, Movafaghi was CFO at software company Spiceworks and before that spent five years at <a href="//www.cnbc.com/quotes/TWTR" target="_blank">Twitter</a> in finance and global operations.</p><p>Doshi said the one reference call he made before hiring Movafaghi was to former Twitter CEO <a href="https://www.cnbc.com/dick-costolo/">Dick Costolo</a>. At Twitter, Movafaghi was Costolo's right-hand man.</p><p>"He was the Mr. Fixit at Twitter when there were a whole bunch of problems that others weren't willing to fix," Doshi said. "He's the perfect person to lead Mixpanel into the future."</p><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p>Mixpanel isn't confronting the kind of high-profile challenges Costolo faced at Twitter, which ranged from an abundance of bots and online bullying to slowing user growth and mounting losses. But the company has had its own set of hurdles.</p><p>In 2014, when venture capitalists were throwing cash at anything with momentum, Mixpanel raised a <a href="https://techcrunch.com/2014/12/18/mixpanel-raises-65-million/" target="_blank">big financing round</a> from Andreessen Horowitz at a valuation of over $800 million. At the time, Mixpanel was primarily serving small and medium-sized businesses and other Y Combinator grads with analytics software that helped them understand their customers' behavior so they could get them to stick around for longer periods of time.</p><p>But Mixpanel realized what so many business software start-ups eventually discover: The big money is in the enterprise. So in 2016, the company cut 19 jobs, or close to 10 percent of its workforce, almost exclusively in sales, and started to refocus on selling to bigger clients.</p><p>The company has also dealt with incidents of data leaks. Most recently, <a href="https://techcrunch.com/2018/02/05/mixpanel-passwords/" target="_blank">TechCrunch</a> reported in February that some people using sites monitored by Mixpanel had their passwords "mistakenly pulled into its software."</p><p>Movafaghi said Mixpanel is "in the ZIP code" of $100 million in annual revenue after beating its internal fourth-quarter target by 54 percent. Close to half of its revenue now comes from companies with more than 1,000 employees, including BMW, <a href="//www.cnbc.com/quotes/INTU" target="_blank">Intuit</a>, Samsung and Uber. Still, it's competing in a fragmented market against big companies like <a href="//www.cnbc.com/quotes/GOOGL" target="_blank">Google</a> and <a href="//www.cnbc.com/quotes/ADBE" target="_blank">Adobe</a> as well as a host of start-ups.</p></div>,<div class="group"><p>Of the $77 million Mixpanel has raised in venture funding, $60 million is still in the bank, Movafaghi said. Additional private capital is a possibility but Movafaghi said he's in no rush to raise money just because it's readily available.</p><p>"One of the lessons learned over the last few years is companies were overcapitalized," he said. "That has come back to really hurt a lot of businesses in the Valley."</p><p>Among Movafaghi's upcoming tasks is finding a CFO to replace him. Doshi, meanwhile, plans to take some time off and then return to Mixpanel in the role of executive director, which could include working on products and helping with recruiting. </p><p>Doshi said he wasn't under any pressure from the board to step down, and that "there were multiple moments when they asked me if I was sure." The company's board includes Affirm CEO and <a href="//www.cnbc.com/quotes/PYPL" target="_blank">PayPal</a> co-founder Max Levchin, whom Doshi calls one of his mentors. </p><p><a href="https://twitter.com/Suhail/status/955839554694426624" target="_blank">tweet</a></p><p>Doshi said he plans to spend more time tinkering around with side projects and getting back to programming. On Twitter, he often chimes in about his latest hobby — cryptocurrencies — though he's not ready to say if that will be part of his next gig.</p><p>"I do plan to code a lot," he said. "But I'm not sure if it's crypto."</p></div>

Suhail Doshi started software developer Mixpanel in 2009 after dropping his studies at Arizona State University to join the Y Combinator accelerator program. He was 20 years old.Now, after more than nine years running the data analytics company and dealing with the many highs and lows of Silicon Valley entrepreneur life, Doshi is taking a step back.On Tuesday, Doshi is informing Mixpanel's 300 employees at a companywide meeting that he's handing over the CEO role to Amir Movafaghi, the company's head of finance and operations. Doshi will become chairman of the board."I just need a break," Doshi told CNBC. "It's been a marathon."With the help of an executive search firm, Doshi went looking for his successor, and in the end decided to promote Movafaghi, who joined the company last year. Prior to Mixpanel, Movafaghi was CFO at software company Spiceworks and before that spent five years at Twitter in finance and global operations.Doshi said the one reference call he made before hiring Movafaghi was to former Twitter CEO Dick Costolo. At Twitter, Movafaghi was Costolo's right-hand man."He was the Mr. Fixit at Twitter when there were a whole bunch of problems that others weren't willing to fix," Doshi said. "He's the perfect person to lead Mixpanel into the future."Mixpanel isn't confronting the kind of high-profile challenges Costolo faced at Twitter, which ranged from an abundance of bots and online bullying to slowing user growth and mounting losses. But the company has had its own set of hurdles.In 2014, when venture capitalists were throwing cash at anything with momentum, Mixpanel raised a big financing round from Andreessen Horowitz at a valuation of over $800 million. At the time, Mixpanel was primarily serving small and medium-sized businesses and other Y Combinator grads with analytics software that helped them understand their customers' behavior so they could get them to stick around for longer periods of time.But Mixpanel realized what so many business software start-ups eventually discover: The big money is in the enterprise. So in 2016, the company cut 19 jobs, or close to 10 percent of its workforce, almost exclusively in sales, and started to refocus on selling to bigger clients.The company has also dealt with incidents of data leaks. Most recently, TechCrunch reported in February that some people using sites monitored by Mixpanel had their passwords "mistakenly pulled into its software."Movafaghi said Mixpanel is "in the ZIP code" of $100 million in annual revenue after beating its internal fourth-quarter target by 54 percent. Close to half of its revenue now comes from companies with more than 1,000 employees, including BMW, Intuit, Samsung and Uber. Still, it's competing in a fragmented market against big companies like Google and Adobe as well as a host of start-ups.Of the $77 million Mixpanel has raised in venture funding, $60 million is still in the bank, Movafaghi said. Additional private capital is a possibility but Movafaghi said he's in no rush to raise money just because it's readily available."One of the lessons learned over the last few years is companies were overcapitalized," he said. "That has come back to really hurt a lot of businesses in the Valley."Among Movafaghi's upcoming tasks is finding a CFO to replace him. Doshi, meanwhile, plans to take some time off and then return to Mixpanel in the role of executive director, which could include working on products and helping with recruiting. Doshi said he wasn't under any pressure from the board to step down, and that "there were multiple moments when they asked me if I was sure." The company's board includes Affirm CEO and PayPal co-founder Max Levchin, whom Doshi calls one of his mentors. tweetDoshi said he plans to spend more time tinkering around with side projects and getting back to programming. On Twitter, he often chimes in about his latest hobby — cryptocurrencies — though he's not ready to say if that will be part of his next gig."I do plan to code a lot," he said. "But I'm not sure if it's crypto."

2021-10-30 14:12:16.597971

Temple City Unified School District Inspires Students while Saving More Than $3.8 Million with Solar and Energy Upgrades

https://www.cnbc.com/2012/10/01/temple-city-unified-school-district-inspires-students-while-saving-more-than-38-million-with-solar-and-energy-upgrades.html

2012-10-01T20:37:00+0000

CNBC

cnbc, Articles, Chevron Corp, California, North America, United States, Press Releases, CNBC Information and Policies, CNBC: News Releases, source:tagname:PR Newswire

<div class="group"><div> <p>TEMPLE CITY, Calif., Oct. 1, 2012 /PRNewswire/ -- Temple City Unified School District and Chevron Energy Solutions today announced the completion of a transformative solar and energy efficiency program expected to reduce energy costs at seven school sites and save the District more than $3.8 million. The project added a 400-kilowatt solar photovoltaic power system mounted on parking shade structures at Temple City High School; replaced the boiler and chiller at Longden Elementary School; installed high-efficiency pumping equipment at Temple City High School's pool; and added new windows at Oak Avenue Intermediate School. </p><p>Coupled with comprehensive energy education curriculum content, including teacher training workshops, the program is designed to inspire students to learn about – and experience – clean energy technologies and concepts. Teachers will receive instructional materials, including ready-to-launch lesson plans and math problems that relate to the installed solar electric system. Teachers will also have access to solar energy kits that will include scaled-down versions of a solar installation and provide activities for students.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The program is expected to cut Temple City Unified School District's electrical utility purchases by more than 33 percent and reduce annual carbon emissions by more than 800 metric tons, equal to removing about 158 cars from the road.</p><p>"Today marks the beginning of a new chapter for environmentally sustainable operations at Temple City Unified School District – one that allows the community to experience the benefits of clean power without negatively impacting limited resources," said school district Superintendent Dr. Chelsea Kang-Smith. "We are pleased about the work Chevron Energy Solutions has completed to enable Temple City Unified School District to bring the benefits of solar energy to our community."</p><p>Chevron Energy Solutions designed, engineered and installed the solar system, and will perform operation and maintenance services, as well as guaranteeing the system's performance. The company also installed District-wide energy-efficient lighting and control systems, which are expected to reduce the District's annual energy consumption, improve lighting quality and aesthetics, reduce maintenance costs and provide consistent indoor climate quality. </p><p>"Through this program, Chevron Energy Solutions is helping Temple City Unified School District demonstrate fiscal and environmental leadership," said Chevron Energy Solutions President Jim Davis. "The District is investing in sustainable programs designed to deliver ongoing value and improve the learning environment for the community's students."</p><p>The program completion will be commemorated today at 4:00 p.m. during a dedication ceremony held in the Rand Media Center at Temple City High School in Temple City. Students, district representatives, government, utility and business officials are expected to participate. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Southern California Edison is expected to present a rebate check exceeding $100,000 to the Temple City Unified School District from the utility energy efficiency rebate programs.  In addition, as part of the California Solar Incentive, Temple City Unified School District expects to receive over $426,000 over five years as a result of the solar project.  </p><p><b>About Chevron Energy Solutions</b></p><p>Chevron Energy Solutions is one of the largest installers of solar power in the U.S. education market and has developed hundreds of projects that improve energy efficiency and provide renewable power for education, government and business facilities. Chevron Energy Solutions develops and builds sustainable energy projects that increase energy efficiency and renewable power, reduce energy costs, and ensure reliable, high-quality energy for government, education and business facilities. Its parent, Chevron Corporation, is investing across the energy spectrum to develop energy sources for future generations by expanding the capabilities of alternative and renewable energy technologies.</p><p><b>Contact: </b>Brent Andrew, Chevron Energy Solutions, 415.842.3398</p><p>SOURCE Chevron Energy Solutions</p></div></div>

TEMPLE CITY, Calif., Oct. 1, 2012 /PRNewswire/ -- Temple City Unified School District and Chevron Energy Solutions today announced the completion of a transformative solar and energy efficiency program expected to reduce energy costs at seven school sites and save the District more than $3.8 million. The project added a 400-kilowatt solar photovoltaic power system mounted on parking shade structures at Temple City High School; replaced the boiler and chiller at Longden Elementary School; installed high-efficiency pumping equipment at Temple City High School's pool; and added new windows at Oak Avenue Intermediate School. Coupled with comprehensive energy education curriculum content, including teacher training workshops, the program is designed to inspire students to learn about – and experience – clean energy technologies and concepts. Teachers will receive instructional materials, including ready-to-launch lesson plans and math problems that relate to the installed solar electric system. Teachers will also have access to solar energy kits that will include scaled-down versions of a solar installation and provide activities for students.The program is expected to cut Temple City Unified School District's electrical utility purchases by more than 33 percent and reduce annual carbon emissions by more than 800 metric tons, equal to removing about 158 cars from the road."Today marks the beginning of a new chapter for environmentally sustainable operations at Temple City Unified School District – one that allows the community to experience the benefits of clean power without negatively impacting limited resources," said school district Superintendent Dr. Chelsea Kang-Smith. "We are pleased about the work Chevron Energy Solutions has completed to enable Temple City Unified School District to bring the benefits of solar energy to our community."Chevron Energy Solutions designed, engineered and installed the solar system, and will perform operation and maintenance services, as well as guaranteeing the system's performance. The company also installed District-wide energy-efficient lighting and control systems, which are expected to reduce the District's annual energy consumption, improve lighting quality and aesthetics, reduce maintenance costs and provide consistent indoor climate quality. "Through this program, Chevron Energy Solutions is helping Temple City Unified School District demonstrate fiscal and environmental leadership," said Chevron Energy Solutions President Jim Davis. "The District is investing in sustainable programs designed to deliver ongoing value and improve the learning environment for the community's students."The program completion will be commemorated today at 4:00 p.m. during a dedication ceremony held in the Rand Media Center at Temple City High School in Temple City. Students, district representatives, government, utility and business officials are expected to participate. Southern California Edison is expected to present a rebate check exceeding $100,000 to the Temple City Unified School District from the utility energy efficiency rebate programs.  In addition, as part of the California Solar Incentive, Temple City Unified School District expects to receive over $426,000 over five years as a result of the solar project.  About Chevron Energy SolutionsChevron Energy Solutions is one of the largest installers of solar power in the U.S. education market and has developed hundreds of projects that improve energy efficiency and provide renewable power for education, government and business facilities. Chevron Energy Solutions develops and builds sustainable energy projects that increase energy efficiency and renewable power, reduce energy costs, and ensure reliable, high-quality energy for government, education and business facilities. Its parent, Chevron Corporation, is investing across the energy spectrum to develop energy sources for future generations by expanding the capabilities of alternative and renewable energy technologies.Contact: Brent Andrew, Chevron Energy Solutions, 415.842.3398SOURCE Chevron Energy Solutions

2021-10-30 14:12:17.010949

These candidates are out of touch

https://www.cnbc.com/2015/12/29/these-candidates-are-out-of-touch-commentary.html

2015-12-29T12:57:26-0500

CNBC

As 2015 comes to a close, eight debates have given us an opportunity to learn where the top-tier candidates on both sides of the aisle stand on the economic issues that matter most to working families — child care, minimum wage, equal pay and paid family leave. We got useful insights into which candidates support working families — and which ones are ignoring them. Child care, one of the biggest issues facing Americans today, has received almost no attention. The first five years of a child's life are critical for learning social and emotional skills, as well as for setting them up to be good students and citizens later in life. Once children start school, they often need to attend after-school programs while their parents work. Wondering how to afford safe educational environments for our kids keeps parents up at night. According to our recent polling, affordable child care is one of the key issues voters say would sway them to vote for a candidate. Yet, it has only come up three times during the debates — once when Secretary of State Hillary Clinton mentioned her support for early childhood education in an answer (before being cut off by the moderator), once when Vermont Senator Bernie Sanders talked about how his wife, as first lady, could help him address the dysfunctional child care system in the U.S., and once when Florida Senator Marco Rubio was asked about his child tax credit plan. Rubio said that in many states child care costs more than college, and families don't know how they will make their payments every month, let alone save for college. Yet his $2,500 child tax plan is a drop in the bucket compared to the more than $12,000 a year families pay for care for their four-year olds in some states. And it does nothing to support the people who care for our little ones, who are paid, on average, $10.30 an hour. Even Rubio has acknowledged that $10 an hour is not enough to live on. Child care should be a huge issue for the presidential candidates. Another issue that would impact the economic security of women and families (and their votes) is the minimum wage. One of the clearest distinctions to come out of the presidential debates has been the Democratic candidates' support for, and the Republican candidates' opposition to, raising the federal minimum wage. The current federal minimum wage is $7.25 an hour. Raising it would disproportionately benefit women, who are two-thirds of the country's minimum wage earners, and would help millions of families make ends meet. Sanders and Maryland Governor Martin O'Malley support an increase to $15 per hour and Clinton supports an increase to $12 per hour nationally, as well as $15 per hour in certain areas. Meanwhile, the debates revealed that Donald Trump, Ben Carson and Rubio are strongly opposed to a minimum wage increase. With women currently paid on average 79 cents for every dollar paid to men, a minimum wage increase is a big deal not just for helping families stay afloat, but also for getting closer to equal pay for women and men. Consistent with their support for an increase in the federal minimum wage, Sanders and Clinton have been proactive about their support for equal pay for equal work, and Clinton has specifically called for pay transparency and the Paycheck Fairness Act. These policies help address the fact that if women don't know they are being paid differently, it's impossible to fix the problem. Yet, on the GOP side, Texas Senator Ted Ted Cruz and former Hewlett-Packard CEO Carly Fiorina avoided answering a question about the problem of unequal pay, pivoting instead to a conversation about single moms and rising poverty among women (yet without saying what they would do about it). On paid family and medical leave, all three Democratic candidates used the debates to express their strong support for it, noting that the United States is one of the only nations in the world without it. In states that have adopted a paid family and medical leave policy, employers and employees alike report benefiting from it. Yet, the Republican debates have been silent on the issue. In fact, the Republican debates have largely ignored all of the issues that would truly support working families — and only revealed how out of touch the candidates are with the realities of today's workforce. As just one example, take the final Republican debate of the year, when New Jersey Governor Chris Christie, ostensibly one of the most moderate candidates of the batch, talked about about moms dropping off kids at the bus stop while dads went to work. As we end 2015, moms are actually breadwinners in two-thirds of families in the United States. Candidates with outdated views like Christie's share a lack of vision for updating our workplace rules to match today's realities. In 2016, candidates have the opportunity to get even more specific about what they will do to make sure no one has to choose between being there for family and earning a living. Instead of using hate and fear-based rhetoric that stokes anxiety and unrest, candidates should focus on how they will improve the quality of life for the millions of working families in the U.S. The best way to do this: share their visions for national economic solutions that will help us all, together, make it work. Julie Kashen is Senior Policy Advisor to the Make it Work campaign and an expert on policy issues related to working families,economic mobility, labor, and poverty. Follow her on Twitter @JulieKashen

Articles, Politics, Hillary Clinton, Bernie Sanders, Marco Rubio, Martin O'Malley, Donald Trump, Ben Carson, Ted Cruz, Carly Fiorina, Democrats, Republicans, US: News, Commentary, US Economy, Elections, Taxes, source:tagname:CNBC US Source

2021-10-30 14:12:17.057966

Housekeeping Note: Email Bankrutpcy

https://www.cnbc.com/2011/06/30/housekeeping-note-email-bankrutpcy.html

2011-06-30T17:01:00+0000

John Carney

CNBC

We just had to declare email bankruptcy, deleting every email in our inboxes here at NetNet.If you sent us something in the last month or so and need a reply, please feel free to reach out again.

cnbc, Articles, CNBC EVENTS, NetNet, source:tagname:CNBC US Source

<div class="group"><p>We just had to declare email bankruptcy, deleting every email in our inboxes here at NetNet.</p><p>If you sent us something in the last month or so and need a reply, please feel free to reach out again.</p></div>

We just had to declare email bankruptcy, deleting every email in our inboxes here at NetNet.If you sent us something in the last month or so and need a reply, please feel free to reach out again.

2021-10-30 14:12:17.210008

Chipmaker Ambarella gets bump from GoPro

https://www.cnbc.com/2014/07/03/chipmaker-ambarella-gets-bump-from-gopro.html

2014-07-03T18:43:22+0000

Mark Berniker,Josh Lipton

CNBC

Chipmaker Ambarella may be small relative to its competitors, but the company is attracting more interest due to a surging stock and a few high-profile clients. The company makes chips that process high-quality video for a variety of companies including camera maker GoPro—whose stock has surged since going public last week—and search giant Google. It's still small—its market cap is about $900 million—but the stock has soared more than 95 percent in the past 12 months as investors cheered its growth prospects. Fermi Wang, the company's CEO, says he first met GoPro founder and CEO Nick Woodman five years ago at the Consumer Electronics Show. "Since then, we have been working together closely with the GoPro team on all of their camera products," Wang tells CNBC. Wang founded Ambarella in 2004, and the company went public in 2012. Kevin Cassidy at Stifel Nicolaus, who covers Ambarella, estimates that GoPro now represents about 25 percent of the company's business. On Google wearables, Cassidy says Ambarella won a contract to be part of Google's "Helpouts" services, which include a customer service person helping with fixing your car, or taking Yoga or Piano lessons through a small video camera linked to a Wi-Fi or Bluetooth network. Read MoreCramer: GoPro stock is in a "sweet spot" The main driver for Ambarella's business, however, is the security and surveillance market, said Wang. Clients such as FLIR Systems and leading surveillance equipment suppliers like Hikvision rely on Ambarella's technology.IP security cameras constitute 45 percent of its business, and that segment—which is growing 25 percent year-over-year—is "a bigger growth engine than GoPro," Cassidy said. Axis Communications of Sweden is its biggest customer, and it has some smaller clients in China, he said.

cnbc, Articles, Technology, Computer hardware, Ambarella Inc, GoPro Inc, Alphabet Class A, Texas Instruments Inc, Xilinx Inc, FLIR Systems Inc, Qualcomm Inc, NVIDIA Corp, Meta Platforms Inc, Hardware, US: News, Computer Hardware, source:tagname:CNBC US Source

<div class="group"><p> Chipmaker <a href="//www.cnbc.com/quotes/AMBA" target="_blank">Ambarella</a> may be small relative to its competitors, but the company is attracting more interest due to a surging stock and a few high-profile clients. </p><p> The company makes chips that process high-quality video for a variety of companies including camera maker <a href="//www.cnbc.com/quotes/GPRO" target="_blank">GoPro</a>—whose stock has surged since going public last week—and search giant <a href="//www.cnbc.com/quotes/GOOGL" target="_blank">Google</a>. It's still small—its market cap is about $900 million—but the stock has soared more than 95 percent in the past 12 months as investors cheered its growth prospects. </p><div style="height:100%" class="lazyload-placeholder"></div><p> Fermi Wang, the company's CEO, says he first met GoPro founder and CEO Nick Woodman five years ago at the Consumer Electronics Show.</p><p> "Since then, we have been working together closely with the GoPro team on all of their camera products," Wang tells CNBC. Wang founded Ambarella in 2004, and the company went public in 2012. </p><p> Kevin Cassidy at Stifel Nicolaus, who covers Ambarella, estimates that GoPro now represents about 25 percent of the company's business.<br></p><p> On Google wearables, Cassidy says Ambarella won a contract to be part of Google's "Helpouts" services, which include a customer service person helping with fixing your car, or taking Yoga or Piano lessons through a small video camera linked to a Wi-Fi or Bluetooth network.</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/06/30/cramer-gopro-is-in-a-sweet-spot.html">Cramer: GoPro stock is in a "sweet spot"</a></p><div style="height:100%" class="lazyload-placeholder"></div><p> The main driver for Ambarella's business, however, is the security and surveillance market, said Wang. Clients such as <a href="//www.cnbc.com/quotes/FLIR" target="_blank">FLIR Systems</a> and leading surveillance equipment suppliers like Hikvision rely on Ambarella's technology.<br></p><p>IP security cameras constitute 45 percent of its business, and that segment—which is growing 25 percent year-over-year—is "a bigger growth engine than GoPro," Cassidy said. Axis Communications of Sweden is its biggest customer, and it has some smaller clients in China, he said. </p></div>,<div class="group"><p>Dashboard cameras are for now a small part of its business, but growing popularity in China and Eastern Europe and the possibility that more auto manufacturers could begin installing them points to another potential big growth engine for the company, Cassidy said.</p><p>Wang also believes there is opportunity in the growing market for drones, as manufacturers increasingly look to equip these unmanned aerial vehicles with miniature HD-quality cameras.</p><p>Not everyone sees a completely rosy growth forecast for the company, though. After the stock's strong run, analysts at Deutsche Bank now argue that much of the good news in this story is already priced in. Plus, <a href="https://www.cnbc.com/2014/06/26/why-semiconductor-stocks-may-be-ready-for-a-fall.html">the entire semiconductor market has been on a tear lately</a>, and some analysts believe that run is about over.</p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/06/26/why-semiconductor-stocks-may-be-ready-for-a-fall.html">Why semiconductor stocks may be ready for a fall</a></p><p> Also, the company specializes in a very competitive market, where it has to go head-to-head with rivals such as <a href="//www.cnbc.com/quotes/TXN" target="_blank">Texas Instruments</a> and <a href="//www.cnbc.com/quotes/XLNX" target="_blank">Xilinx</a>. </p><p>But other analysts such as Suji De Silva of Topeka Capital Markets say Ambarella has competitive advantages, for example chips that are more power efficient than competitors.</p></div>,<div class="group"><p> Bulls on the stock are also fans of Ambarella's management team. Wang boasts a strong background in semiconductor design, and he has already founded and sold one company called Afara Websystems. </p><p> So is Ambarella an acquisition target? Cassidy thinks that tech giants or other chip companies could be interested in buying the company.</p><p> Cassidy says that the Wang and his partner have sold two other companies and he sees Ambarella as a "possible acquisition candidate."</p><p> "<a href="//www.cnbc.com/quotes/QCOM" target="_blank">Qualcomm</a>, <a href="//www.cnbc.com/quotes/NVDA" target="_blank">Nvidia</a> or Intel are possible candidates, and I wouldn't rule out Google or <a href="//www.cnbc.com/quotes/FB" target="_blank">Facebook</a>, either," he said</p><p> A representative for <span>Ambarella </span><span>did not respond to requests for comment on whether they'd be willing to be acquired.</span></p><p><span>—</span><em>By CNBC's Mark Berniker and Josh Lipton. Follow them <a href="https://twitter.com/markberniker" target="_blank">@markberniker</a> and <a href="https://twitter.com/CNBCJosh" target="_blank">@CNBCJosh</a></em></p></div>,<div class="group"></div>

Chipmaker Ambarella may be small relative to its competitors, but the company is attracting more interest due to a surging stock and a few high-profile clients. The company makes chips that process high-quality video for a variety of companies including camera maker GoPro—whose stock has surged since going public last week—and search giant Google. It's still small—its market cap is about $900 million—but the stock has soared more than 95 percent in the past 12 months as investors cheered its growth prospects. Fermi Wang, the company's CEO, says he first met GoPro founder and CEO Nick Woodman five years ago at the Consumer Electronics Show. "Since then, we have been working together closely with the GoPro team on all of their camera products," Wang tells CNBC. Wang founded Ambarella in 2004, and the company went public in 2012. Kevin Cassidy at Stifel Nicolaus, who covers Ambarella, estimates that GoPro now represents about 25 percent of the company's business. On Google wearables, Cassidy says Ambarella won a contract to be part of Google's "Helpouts" services, which include a customer service person helping with fixing your car, or taking Yoga or Piano lessons through a small video camera linked to a Wi-Fi or Bluetooth network. Read MoreCramer: GoPro stock is in a "sweet spot" The main driver for Ambarella's business, however, is the security and surveillance market, said Wang. Clients such as FLIR Systems and leading surveillance equipment suppliers like Hikvision rely on Ambarella's technology.IP security cameras constitute 45 percent of its business, and that segment—which is growing 25 percent year-over-year—is "a bigger growth engine than GoPro," Cassidy said. Axis Communications of Sweden is its biggest customer, and it has some smaller clients in China, he said. Dashboard cameras are for now a small part of its business, but growing popularity in China and Eastern Europe and the possibility that more auto manufacturers could begin installing them points to another potential big growth engine for the company, Cassidy said.Wang also believes there is opportunity in the growing market for drones, as manufacturers increasingly look to equip these unmanned aerial vehicles with miniature HD-quality cameras.Not everyone sees a completely rosy growth forecast for the company, though. After the stock's strong run, analysts at Deutsche Bank now argue that much of the good news in this story is already priced in. Plus, the entire semiconductor market has been on a tear lately, and some analysts believe that run is about over.Read MoreWhy semiconductor stocks may be ready for a fall Also, the company specializes in a very competitive market, where it has to go head-to-head with rivals such as Texas Instruments and Xilinx. But other analysts such as Suji De Silva of Topeka Capital Markets say Ambarella has competitive advantages, for example chips that are more power efficient than competitors. Bulls on the stock are also fans of Ambarella's management team. Wang boasts a strong background in semiconductor design, and he has already founded and sold one company called Afara Websystems. So is Ambarella an acquisition target? Cassidy thinks that tech giants or other chip companies could be interested in buying the company. Cassidy says that the Wang and his partner have sold two other companies and he sees Ambarella as a "possible acquisition candidate." "Qualcomm, Nvidia or Intel are possible candidates, and I wouldn't rule out Google or Facebook, either," he said A representative for Ambarella did not respond to requests for comment on whether they'd be willing to be acquired.—By CNBC's Mark Berniker and Josh Lipton. Follow them @markberniker and @CNBCJosh

2021-10-30 14:12:17.250305

Art Cashin remembers market reaction to JFK

https://www.cnbc.com/2013/11/22/art-cashin-remembers-market-reaction-to-jfk.html

2013-11-22T15:59:24+0000

Jeff Cox

CNBC

Art Cashin was only a few years into what would become a legendary career on Wall Street when John F. Kennedy was shot in Dallas. Like virtually every American who was around then, he remembers where he was when he got the news. More than that, though, he recalls the market impact before anyone even knew what was going on. Wall Street was in sell mode before it became clear what had happened that fateful day, according to a remembrance Cashin shared with clients Friday morning. Cashin, now director of floor operations at UBS, had started at Thomas McKinnon—now part of Prudential—in 1959. The 1963 assassination happened a year before he would go on to become a member of the New York Stock Exchange and a partner at P.R. Herzig.

cnbc, Articles, CNBC's Net/Net, NetNet, US: News, CNBC EVENTS, source:tagname:CNBC US Source

<div class="group"><p> Art Cashin was only a few years into what would become a legendary career on Wall Street when John F. Kennedy was shot in Dallas.</p><p> Like virtually every American who was around then, he remembers where he was when he got the news.</p><div style="height:100%" class="lazyload-placeholder"></div><p> More than that, though, he recalls the market impact <em>before</em> anyone even knew what was going on. Wall Street was in sell mode before it became clear what had happened that fateful day, according to a remembrance Cashin shared with clients Friday morning.</p><p> Cashin, now director of floor operations at UBS, had started at Thomas McKinnon—now part of Prudential—in 1959. The 1963 assassination happened a year before he would go on to become a member of the New York Stock Exchange and a partner at P.R. Herzig.</p><div class="ArticleBody-blockquote"> <p> On the floor of the NYSE selling had begun before any headlines hit the tape. Months later I learned that was thanks to a savvy branch manager in Dallas. </p></div></div>,<div class="group"><p><span style="background-color:rgb(255, 255, 255)">The manager of whom Cashin spoke figured it would be a slow day in the city due to the Kennedy motorcade that was expected to pass through. Consequently, he decided to let most of this staff go watch the parade, keeping only a skeleton crew around the office.</span><br></p><p> But when the crew returned after hearing the event was canceled—without knowing why—the manager grew concerned, according to Cashin's knowledge of the story:</p><div class="ArticleBody-blockquote"> <p> After questioning, he learned that they had heard the sirens accelerate, the police lights flare and the "parade" suddenly turn right. They were many blocks away and obviously heard no shots. </p> <p> The savvy manager quickly asked—"Give me a bullish reason to pull a president out of a parade?" "It's not to sign a tax bill—that could wait." No one could think of a bullish reason to divert a parade. Then they mulled bearish reasons. No one thought assassination. But they did think natural disaster, nuclear accident, missile threat and scores of others. That's when they decided something "bad" must have happened and began to sell. </p> <p> As their sell orders poured onto the floor and prices began to melt, they were asked by brokers—"Why the selling?" The response was the incomplete—"something about the President." </p></div><p> The horror of what had actually happened soon hit.</p><div class="ArticleBody-blockquote"> <p> Sometime later, the first headline hit—"Shots reported fired at President's motorcade!" The selling broadened and accelerated. Rather quickly the next headline—"President reported hit." </p> <p> Exchange leaders hastily gathered and discussed closing the exchange. Then the headline "Motorcade diverted to Parkland Hospital." They rang the bell at 2:07 (EST). </p> <p> The Dow fell the equivalent of what would be 460 points today. When we reopened Tuesday, there was such a sigh of relief that power had been transferred and the Constitution still functioned, that a massive rally erupted, soaring the equivalent of 710 points. </p> <p> An unforgettable period. </p></div><p> <em>—By CNBC's Jeff Cox. Follow him on Twitter </em><em><a href="https://twitter.com/JeffCoxCNBCcom" class="webresource" target="_blank">@JeffCoxCNBCcom</a></em><em>.</em></p></div>

Art Cashin was only a few years into what would become a legendary career on Wall Street when John F. Kennedy was shot in Dallas. Like virtually every American who was around then, he remembers where he was when he got the news. More than that, though, he recalls the market impact before anyone even knew what was going on. Wall Street was in sell mode before it became clear what had happened that fateful day, according to a remembrance Cashin shared with clients Friday morning. Cashin, now director of floor operations at UBS, had started at Thomas McKinnon—now part of Prudential—in 1959. The 1963 assassination happened a year before he would go on to become a member of the New York Stock Exchange and a partner at P.R. Herzig. On the floor of the NYSE selling had begun before any headlines hit the tape. Months later I learned that was thanks to a savvy branch manager in Dallas. The manager of whom Cashin spoke figured it would be a slow day in the city due to the Kennedy motorcade that was expected to pass through. Consequently, he decided to let most of this staff go watch the parade, keeping only a skeleton crew around the office. But when the crew returned after hearing the event was canceled—without knowing why—the manager grew concerned, according to Cashin's knowledge of the story: After questioning, he learned that they had heard the sirens accelerate, the police lights flare and the "parade" suddenly turn right. They were many blocks away and obviously heard no shots. The savvy manager quickly asked—"Give me a bullish reason to pull a president out of a parade?" "It's not to sign a tax bill—that could wait." No one could think of a bullish reason to divert a parade. Then they mulled bearish reasons. No one thought assassination. But they did think natural disaster, nuclear accident, missile threat and scores of others. That's when they decided something "bad" must have happened and began to sell. As their sell orders poured onto the floor and prices began to melt, they were asked by brokers—"Why the selling?" The response was the incomplete—"something about the President." The horror of what had actually happened soon hit. Sometime later, the first headline hit—"Shots reported fired at President's motorcade!" The selling broadened and accelerated. Rather quickly the next headline—"President reported hit." Exchange leaders hastily gathered and discussed closing the exchange. Then the headline "Motorcade diverted to Parkland Hospital." They rang the bell at 2:07 (EST). The Dow fell the equivalent of what would be 460 points today. When we reopened Tuesday, there was such a sigh of relief that power had been transferred and the Constitution still functioned, that a massive rally erupted, soaring the equivalent of 710 points. An unforgettable period. —By CNBC's Jeff Cox. Follow him on Twitter @JeffCoxCNBCcom.

2021-10-30 14:12:17.406455

North Korea's Hwasong-15 missile is new type of ICBM, Seoul says

https://www.cnbc.com/2017/11/30/north-koreas-hwasong-15-missile-is-new-type-of-icbm-seoul-says.html

2017-12-01T03:21:36+0000

CNBC

The Hwasong-15 missile that North Korea launched on Wednesday is a new type of intercontinental ballistic missile which can fly over 13,000 km (8,080 miles), a South Korean defense ministry spokesman told Reuters on Friday.Earlier this week, Pyongyang said it had test-fired its most advanced missile, putting the U.S. mainland within range, and in violation of U.N. Security Council resolutions.The latest provocation from the North prompted more insults from U.S. President Donald Trump, who referred to North Korea's leader Kim Jong Un as "Little Rocket Man" and a "sick puppy".Trump had also dismissed a Chinese diplomatic effort to rein in North Korea's weapons program as a failure on Thursday, while Secretary of State Rex Tillerson said Beijing was doing a lot, but could do more to limit oil supplies to Pyongyang. Despite international condemnation and sanctions, North Korea has continued on its path towards developing a nuclear-tipped missile that could hit the United States.

cnbc, Articles, Defense, Asia News, Politics, United States, South Korea, Kim Jong-un, Donald Trump, United Nations, North Korea, source:tagname:Reuters

<div class="group"><p>The Hwasong-15 missile that <a href="https://www.cnbc.com/id/10000169">North Korea</a> launched on Wednesday is a new type of intercontinental ballistic missile which can fly over 13,000 km (8,080 miles), a <a href="https://www.cnbc.com/id/10000022">South Korean</a> defense ministry spokesman told Reuters on Friday.</p><p>Earlier this week, Pyongyang said it had test-fired its <a href="https://www.cnbc.com/2017/11/28/north-korea-fires-ballistic-missile-report.html">most advanced missile, putting the U.S. mainland within range</a>, and in violation of <a href="https://www.cnbc.com/id/10000938">U.N.</a> Security Council resolutions.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The latest provocation from the North prompted more insults from <a href="https://www.cnbc.com/id/10000385">U.S.</a> President <a href="https://www.cnbc.com/donald-trump/">Donald Trump</a>, who referred to North Korea's leader <a href="https://www.cnbc.com/kim-jong-un/">Kim Jong Un</a> as "Little Rocket Man" and a "sick puppy".</p><p>Trump had also dismissed a Chinese diplomatic effort to rein in North Korea's weapons program as a failure on Thursday, while Secretary of State <a href="https://www.cnbc.com/rex-tillerson/">Rex Tillerson</a> said Beijing was doing a lot, but could do more to limit oil supplies to Pyongyang. </p><p>Despite international condemnation and sanctions, North Korea has continued on its path towards developing a nuclear-tipped missile that could hit the United States.</p></div>,<div class="group"><p>After North Korea released video footage and photographs of Hwasong-15, analysts have said they appeared to show the North was indeed capable of delivering a nuclear weapon anywhere in the United States and could only be two or three tests away from being combat ready.</p><p>South Korean President Moon Jae-in said on Thursday in a phone call with Trump that the new missile was North Korea's most advanced so far, but it still has some technical issues to settle, like re-entry and terminal guidance system technology. </p><p>Trump and Moon pledged to continue applying strong sanctions and pressure on North Korea to bring it to talks. Addressing an emergency U.N. Security Council meeting after this week's missile launch, the United States warned North Korea's leadership it would be "utterly destroyed" if war were to break out.</p></div>

The Hwasong-15 missile that North Korea launched on Wednesday is a new type of intercontinental ballistic missile which can fly over 13,000 km (8,080 miles), a South Korean defense ministry spokesman told Reuters on Friday.Earlier this week, Pyongyang said it had test-fired its most advanced missile, putting the U.S. mainland within range, and in violation of U.N. Security Council resolutions.The latest provocation from the North prompted more insults from U.S. President Donald Trump, who referred to North Korea's leader Kim Jong Un as "Little Rocket Man" and a "sick puppy".Trump had also dismissed a Chinese diplomatic effort to rein in North Korea's weapons program as a failure on Thursday, while Secretary of State Rex Tillerson said Beijing was doing a lot, but could do more to limit oil supplies to Pyongyang. Despite international condemnation and sanctions, North Korea has continued on its path towards developing a nuclear-tipped missile that could hit the United States.After North Korea released video footage and photographs of Hwasong-15, analysts have said they appeared to show the North was indeed capable of delivering a nuclear weapon anywhere in the United States and could only be two or three tests away from being combat ready.South Korean President Moon Jae-in said on Thursday in a phone call with Trump that the new missile was North Korea's most advanced so far, but it still has some technical issues to settle, like re-entry and terminal guidance system technology. Trump and Moon pledged to continue applying strong sanctions and pressure on North Korea to bring it to talks. Addressing an emergency U.N. Security Council meeting after this week's missile launch, the United States warned North Korea's leadership it would be "utterly destroyed" if war were to break out.

2021-10-30 14:12:17.440568

Pfizer: No Ifs, Ands Or Butts, Doctors Help Smokers Quit

https://www.cnbc.com/2008/01/03/pfizer-no-ifs-ands-or-butts-doctors-help-smokers-quit.html

2008-01-03T20:09:35+0000

Mike Huckman

CNBC

Pfizer sent out a press release this morning touting the findings of a company-sponsored European survey of ex-smokers. The study found that 84 percent of the respondents in France, Germany, Italy, Spain and the UK who had consulted with a doctor or some other healthcare professional about quitting thought it was helpful.However, only 13 percent of the nearly 1,000 participants had talked to a doc or someone else in the medical field. The press release quotes a doctor in The Netherlands who says that shows how important it is for people who want to quit to seek out a professional.

cnbc, Articles, Pfizer Inc, Pharmas Market, source:tagname:CNBC US Source

<div class="group"><p>Pfizer sent out a press release this morning touting the findings of a company-sponsored European survey of ex-smokers. </p><p>The study found that 84 percent of the respondents in France, Germany, Italy, Spain and the UK who had consulted with a doctor or some other healthcare professional about quitting thought it was helpful.</p><div style="height:100%" class="lazyload-placeholder"></div><p>However, only 13 percent of the nearly 1,000 participants had talked to a doc or someone else in the medical field. The press release quotes a doctor in The Netherlands who says that shows how important it is for people who want to quit to seek out a professional. </p></div>,<div class="group"><p>Of course, that's how potential quitters can get a prescription for the relatively new drug PFE makes to stop smoking. It's sold as Chantix in the U.S. and Champix overseas. The world's biggest drugmaker is pushing the drug in an ubiquitous ad campaign featuring the tortoise and the hare. In fact, as I'm writing this blog entry I'm watching the spot during a break on CNBC's "Squawk on the Street" at 10:15 a.m. ET.<br><br>And I've seen new internet ads saying, "Resolve to quit in 2008." Pfizer's apparently turning up the volume because Chantix is one of the few bright spots in its product portfolio these days. Lipitor sales are falling and it recently gave up on another once-promising new product--the inhalable insulin, Exubera.<br><br></p></div>,<div class="group"><p>PFE sold nearly a quarter-billion dollars worth of Chantix in the third quarter. But it will be interesting to see the fourth quarter numbers after the FDA and its UK equivalent recently told doctors to be on the lookout for abnormal behavior among their Chantix patients. Australia has already gone so far as to put a warning on the drug about the possibility of feeling depressed, agitated or thinking about suicide while taking Champix. Eventually, some say the same thing will happen here. </p><p>A couple of other noteworthy findings of the Pfizer survey: 45 percent said concerns about health problems were a major factor in their decision to quit and 28 percent said the cost of smokes influenced them. Not a coincidence, I'm guessing, that another new ad appears on "The New York Times" web site homepage today that says, "Calculate how much your smoking habit costs."  The survey participants hadn't taken a puff for at least a year. </p><p>Interestingly, yesterday when the Dow and the American pharma sector tanked, PFE shares were up a fraction. Maybe it was a dog of the Dow thing on the first trading day of the year--Pfizer was one of the index's worst performers in 2007. It started this year not much off of its low of 22 bucks and change, so it could be investor bargain hunting and/or the still-attractive dividend. Pfizer's obviously hoping Chantix sales will help "light up" the stock this year. </p><p><em>Questions?  Comments?  </em><em><a href="mailto:Pharma@cnbc.com" class="webresource" target="_blank">Pharma@cnbc.com</a></em></p></div>

Pfizer sent out a press release this morning touting the findings of a company-sponsored European survey of ex-smokers. The study found that 84 percent of the respondents in France, Germany, Italy, Spain and the UK who had consulted with a doctor or some other healthcare professional about quitting thought it was helpful.However, only 13 percent of the nearly 1,000 participants had talked to a doc or someone else in the medical field. The press release quotes a doctor in The Netherlands who says that shows how important it is for people who want to quit to seek out a professional. Of course, that's how potential quitters can get a prescription for the relatively new drug PFE makes to stop smoking. It's sold as Chantix in the U.S. and Champix overseas. The world's biggest drugmaker is pushing the drug in an ubiquitous ad campaign featuring the tortoise and the hare. In fact, as I'm writing this blog entry I'm watching the spot during a break on CNBC's "Squawk on the Street" at 10:15 a.m. ET.And I've seen new internet ads saying, "Resolve to quit in 2008." Pfizer's apparently turning up the volume because Chantix is one of the few bright spots in its product portfolio these days. Lipitor sales are falling and it recently gave up on another once-promising new product--the inhalable insulin, Exubera.PFE sold nearly a quarter-billion dollars worth of Chantix in the third quarter. But it will be interesting to see the fourth quarter numbers after the FDA and its UK equivalent recently told doctors to be on the lookout for abnormal behavior among their Chantix patients. Australia has already gone so far as to put a warning on the drug about the possibility of feeling depressed, agitated or thinking about suicide while taking Champix. Eventually, some say the same thing will happen here. A couple of other noteworthy findings of the Pfizer survey: 45 percent said concerns about health problems were a major factor in their decision to quit and 28 percent said the cost of smokes influenced them. Not a coincidence, I'm guessing, that another new ad appears on "The New York Times" web site homepage today that says, "Calculate how much your smoking habit costs."  The survey participants hadn't taken a puff for at least a year. Interestingly, yesterday when the Dow and the American pharma sector tanked, PFE shares were up a fraction. Maybe it was a dog of the Dow thing on the first trading day of the year--Pfizer was one of the index's worst performers in 2007. It started this year not much off of its low of 22 bucks and change, so it could be investor bargain hunting and/or the still-attractive dividend. Pfizer's obviously hoping Chantix sales will help "light up" the stock this year. Questions?  Comments?  Pharma@cnbc.com

2021-10-30 14:12:17.477170

Best-selling author Michael Lewis on Trump, Wall Street deregulation and his new book

https://www.cnbc.com/2016/12/06/best-selling-author-michael-lewis-on-his-new-book.html

2016-12-06T20:22:56+0000

Tae Kim

CNBC

Author Michael Lewis shared his views on Donald Trump's policies, Wall Street deregulation and his new book "The Undoing Project" in an extensive interview on CNBC's Power Lunch Tuesday. Lewis' best-selling books include "The Big Short," "Moneyball" and "Liar's Poker." On Donald Trump's next moves: "Predicting what he's going to do I know is a stupid thing. It's like predicting what the stock market is going to do tomorrow. Really. You're watching I think something with a large random component there. I don't think this is like some well-thought out strategy. You never know what he is going to do next," he said. On Wall Street deregulation: "When I'm watching the incoming Trump administration, that's the thing that terrifies me. They are going to reduce the capital requirements in banks. ... They already seem to be interested in rolling back the Volcker Rule," Lewis said. He also discusses: To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.

cnbc, Premium, Articles, Financials, Donald Trump, Banks, Investment strategy, Federal Reserve System, The Fed, Investing, Power Lunch, Money Market, CNBC Pro, Pro Uncut, source:tagname:CNBC US Source

<div class="group"><p> Author Michael Lewis shared his views on <a href="https://www.cnbc.com/donald-trump/">Donald Trump's</a> policies, Wall Street deregulation and his new book "The Undoing Project" in an extensive interview on CNBC's <a href="https://www.cnbc.com/power-lunch/">Power Lunch</a> Tuesday.</p><p> Lewis' best-selling books include "The Big Short," "Moneyball" and "Liar's Poker." </p><p> On Donald Trump's next moves: "Predicting what he's going to do I know is a stupid thing. It's like predicting what the stock market is going to do tomorrow. Really. You're watching I think something with a large random component there. I don't think this is like some well-thought out strategy. You never know what he is going to do next," he said.</p><div class="inline-piano-offer"></div><p> On Wall Street deregulation: "When I'm watching the incoming Trump administration, that's the thing that terrifies me. They are going to reduce the capital requirements in banks. ... They already seem to be interested in rolling back the Volcker Rule," Lewis said.</p><p> He also discusses:</p><ul> <li>Trump's criticisms of business leaders </li> <li>Flaws in decision-making based on intuition </li> <li>Best anecdotes from his new book </li></ul><p> To watch the broadcast interview in its entirety, you must be a <a href="https://www.cnbc.com/application/pro/">CNBC PRO subscriber</a>.</p></div>

Author Michael Lewis shared his views on Donald Trump's policies, Wall Street deregulation and his new book "The Undoing Project" in an extensive interview on CNBC's Power Lunch Tuesday. Lewis' best-selling books include "The Big Short," "Moneyball" and "Liar's Poker." On Donald Trump's next moves: "Predicting what he's going to do I know is a stupid thing. It's like predicting what the stock market is going to do tomorrow. Really. You're watching I think something with a large random component there. I don't think this is like some well-thought out strategy. You never know what he is going to do next," he said. On Wall Street deregulation: "When I'm watching the incoming Trump administration, that's the thing that terrifies me. They are going to reduce the capital requirements in banks. ... They already seem to be interested in rolling back the Volcker Rule," Lewis said. He also discusses: Trump's criticisms of business leaders Flaws in decision-making based on intuition Best anecdotes from his new book To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.

2021-10-30 14:12:17.515586

French workers occupy plant as Arcelor decides fate

https://www.cnbc.com/2012/10/01/french-workers-occupy-plant-as-arcelor-decides-fate.html

2012-10-01T08:45:00+0000

CNBC

FLORANGE, France, Oct 1 (Reuters) - Workers occupied thesite of two idle ArcelorMittal steel furnaces innortheastern France on Monday as management and unions met inParis to decide the fate of a plant that has become a symbol ofthe country's industrial decline. Some 40 workers blocked access to management offices at thesteel mill in Florange, in France's traditional industrialheartland of Lorraine, where two blast furnaces have been out ofoperation since last year due to lack of demand. Management was due to announce a decision on the fate of thefurnaces, which employ some 550 of the 2,800 workers at theFlorange plant, after a meeting with unions at its Frenchheadquarters. The rest of the plant is operational. Socialist President Francois Hollande, who visited Florangewhile campaigning for the May presidential election, met thesteelmaker's chief executive Lakshmi Mittal last week to ask himto either restart the furnaces or put the facility up for sale. The daily Liberation reported that Mittal had given his"consent in principle" to finding a buyer, citing a source inthe president's office. Industry Minister Arnaud Montebourg said on Sunday thegovernment was seeking contacts with leading steelmakers. With French unemployment breaking the psychological barrierof 3 million for the first time since June 1999, the Lorraineregion has been hard hit by a slump in industrial demand,particularly for the car sector, which has traditionallyconsumed much of Florange's output. Frustration over Hollande's inability to stem job losses hastaken a toll on his approval ratings, which have slid to as lowas 43 percent in one survey.(Reporting By Vincent Kessler and Gilbert Reilhac; Writing byDaniel Flynn; Editing by Kevin Liffey)((daniel.flynn@thomsonreuters.com)(+33 1 49 49 5071)(ReutersMessaging: daniel.flynn.thomsonreuters.com@reuters.net))Keywords: FRANCE ARCELORMITTAL/

cnbc, Articles, Europe, Western Europe, France, Wires, source:tagname:Thomson Financial News

<div class="group"><p>FLORANGE, France, Oct 1 (Reuters) - Workers occupied thesite of two idle ArcelorMittal steel furnaces innortheastern France on Monday as management and unions met inParis to decide the fate of a plant that has become a symbol ofthe country's industrial decline.</p><p> Some 40 workers blocked access to management offices at thesteel mill in Florange, in France's traditional industrialheartland of Lorraine, where two blast furnaces have been out ofoperation since last year due to lack of demand.</p><div style="height:100%" class="lazyload-placeholder"></div><p> Management was due to announce a decision on the fate of thefurnaces, which employ some 550 of the 2,800 workers at theFlorange plant, after a meeting with unions at its Frenchheadquarters.</p><p> The rest of the plant is operational.</p><p> Socialist President Francois Hollande, who visited Florangewhile campaigning for the May presidential election, met thesteelmaker's chief executive Lakshmi Mittal last week to ask himto either restart the furnaces or put the facility up for sale.</p><p> The daily Liberation reported that Mittal had given his"consent in principle" to finding a buyer, citing a source inthe president's office.</p><p> Industry Minister Arnaud Montebourg said on Sunday thegovernment was seeking contacts with leading steelmakers.</p><div style="height:100%" class="lazyload-placeholder"></div><p> With French unemployment breaking the psychological barrierof 3 million for the first time since June 1999, the Lorraineregion has been hard hit by a slump in industrial demand,particularly for the car sector, which has traditionallyconsumed much of Florange's output.</p><p> Frustration over Hollande's inability to stem job losses hastaken a toll on his approval ratings, which have slid to as lowas 43 percent in one survey.</p><p>(Reporting By Vincent Kessler and Gilbert Reilhac; Writing byDaniel Flynn; Editing by Kevin Liffey)</p><p>((<a href="mailto:daniel.flynn@thomsonreuters.com" target="_blank">daniel.flynn@thomsonreuters.com</a>)(+33 1 49 49 5071)(ReutersMessaging: <a href="mailto:daniel.flynn.thomsonreuters.com@reuters.net" target="_blank">daniel.flynn.thomsonreuters.com@reuters.net</a>))</p><p>Keywords: FRANCE ARCELORMITTAL/</p></div>

FLORANGE, France, Oct 1 (Reuters) - Workers occupied thesite of two idle ArcelorMittal steel furnaces innortheastern France on Monday as management and unions met inParis to decide the fate of a plant that has become a symbol ofthe country's industrial decline. Some 40 workers blocked access to management offices at thesteel mill in Florange, in France's traditional industrialheartland of Lorraine, where two blast furnaces have been out ofoperation since last year due to lack of demand. Management was due to announce a decision on the fate of thefurnaces, which employ some 550 of the 2,800 workers at theFlorange plant, after a meeting with unions at its Frenchheadquarters. The rest of the plant is operational. Socialist President Francois Hollande, who visited Florangewhile campaigning for the May presidential election, met thesteelmaker's chief executive Lakshmi Mittal last week to ask himto either restart the furnaces or put the facility up for sale. The daily Liberation reported that Mittal had given his"consent in principle" to finding a buyer, citing a source inthe president's office. Industry Minister Arnaud Montebourg said on Sunday thegovernment was seeking contacts with leading steelmakers. With French unemployment breaking the psychological barrierof 3 million for the first time since June 1999, the Lorraineregion has been hard hit by a slump in industrial demand,particularly for the car sector, which has traditionallyconsumed much of Florange's output. Frustration over Hollande's inability to stem job losses hastaken a toll on his approval ratings, which have slid to as lowas 43 percent in one survey.(Reporting By Vincent Kessler and Gilbert Reilhac; Writing byDaniel Flynn; Editing by Kevin Liffey)((daniel.flynn@thomsonreuters.com)(+33 1 49 49 5071)(ReutersMessaging: daniel.flynn.thomsonreuters.com@reuters.net))Keywords: FRANCE ARCELORMITTAL/

2021-10-30 14:12:18.044623

Nike earnings leap past forecasts; shares soar

https://www.cnbc.com/2013/09/26/nike-earnings-leap-past-forecasts-shares-soar.html

2013-09-26T20:38:39+0000

CNBC

New Dow component Nike on Thursday reported earnings that beat Wall Street forecasts, helped by lower costs for raw materials and higher futures orders in China, excluding currency. Nike closed above $70 for the first time ever on Thursday and was the best performer on the Dow. Shares closed at $70.34 a share on the New York Stock Exchange, and jumped higher after the earnings beat. What is Nike stock doing now? (Click here to get the latest quote.) Operating earnings rose to 86 cents a share in the fiscal first quarter from 64 cents a share a year earlier. Revenue ticked higher to $6.97 billion from $6.47 billion a year ago. Analysts had expected the athletic footwear and apparel maker to report earnings excluding items of 78 cents a share on $6.97 billion in revenue, according to a consensus estimate from Thomson Reuters. The company has been dealing with Europe's fluctuating economy and a slowdown in growth in China. It's been working to reduce its inventory in China and reworking its offerings there to adapt to the changing tastes of Chinese consumers. Meanwhile, it has been enjoying strong demand in North America, where it has been selling off less profitable brands like Umbro to focus on core brands like Nike.

cnbc, Articles, Earnings, Retail industry, Nike Inc, Retail, DO NOT USE Consumer, Investing, source:tagname:CNBC US Source

<div class="group"><p> New Dow component <a href="//www.cnbc.com/quotes/NKE" target="_blank">Nike</a> on Thursday reported earnings that beat Wall Street forecasts, helped by lower costs for raw materials and higher futures orders in China, excluding currency. <br></p><p> Nike closed above $70 for the first time ever on Thursday and was the best performer on the Dow. Shares closed at $70.34 a share on the New York Stock Exchange, and jumped higher after the earnings beat. <strong>What is Nike stock doing now?</strong> (<a href="//www.cnbc.com/quotes/NKE" target="_blank">Click here to get the latest quote.</a>)</p><div style="height:100%" class="lazyload-placeholder"></div><p> Operating earnings rose to 86 cents a share in the fiscal first quarter from 64 cents a share a year earlier. </p><p>Revenue ticked higher to $6.97 billion from $6.47 billion a year ago.<br></p><p> Analysts had expected the athletic footwear and apparel maker to report earnings excluding items of 78 cents a share on $6.97 billion in revenue, according to a consensus estimate from Thomson Reuters.</p><p> The company has been dealing with Europe's fluctuating economy and a slowdown in growth in China. It's been working to reduce its inventory in China and reworking its offerings there to adapt to the changing tastes of Chinese consumers. </p><p>Meanwhile, it has been enjoying strong demand in North America, where it has been selling off less profitable brands like Umbro to focus on core brands like Nike.</p></div>

New Dow component Nike on Thursday reported earnings that beat Wall Street forecasts, helped by lower costs for raw materials and higher futures orders in China, excluding currency. Nike closed above $70 for the first time ever on Thursday and was the best performer on the Dow. Shares closed at $70.34 a share on the New York Stock Exchange, and jumped higher after the earnings beat. What is Nike stock doing now? (Click here to get the latest quote.) Operating earnings rose to 86 cents a share in the fiscal first quarter from 64 cents a share a year earlier. Revenue ticked higher to $6.97 billion from $6.47 billion a year ago. Analysts had expected the athletic footwear and apparel maker to report earnings excluding items of 78 cents a share on $6.97 billion in revenue, according to a consensus estimate from Thomson Reuters. The company has been dealing with Europe's fluctuating economy and a slowdown in growth in China. It's been working to reduce its inventory in China and reworking its offerings there to adapt to the changing tastes of Chinese consumers. Meanwhile, it has been enjoying strong demand in North America, where it has been selling off less profitable brands like Umbro to focus on core brands like Nike.

2021-10-30 14:12:18.085925

How much do you know about Social Security benefits?

https://www.cnbc.com/2015/06/12/how-much-do-you-know-about-social-security-benefits.html

2015-06-12T16:25:15+0000

Tom Anderson

CNBC

Social Security provides about 38 percent of the income for the elderly, but most Americans would likely flunk a test on the program's basic details. Only one person—a retired woman in the South—out of 1,513 surveyed recently by life insurer MassMutual answered all 12 questions right on an elementary test about Social Security retirement benefits. (Tweet This) More than seven out of 10 people received a failing grade. (Take CNBC's quiz below to see how your Social Security knowledge stacks up.) "Perhaps the greatest Social Security deficit in this country—and what's lost in today's discussions about Social Security—is how little most Americans even know about this retirement benefit," said Michael Fanning, MassMutual's executive vice president of the U.S. insurance group. "While we didn't expect every person to get 100 percent correct, we certainly hoped that more would receive a passing grade." Read MoreHow to boost your Social Security check Besides not knowing that the full retirement age varies, depending on the year you were born, and that non-U.S. citizens can be eligible for Social Security retirement benefits, 55 percent incorrectly said that they can continue working while collecting full Social Security retirement benefits regardless of their age. While you can work and receive Social Security retirement benefits, if you have not reached full retirement age, your earnings will be subject to a retirement earnings test. If your income exceeds $15,720 for 2015, for example, the Social Security Administration will deduct $1 from your benefit payments for every $2 you earn above the annual limit.

cnbc, Articles, Personal finance, Retirement planning, Retirement, Personal Finance, Investing, source:tagname:CNBC US Source

<div class="group"><p> Social Security provides about 38 percent of the income for the elderly, but most Americans would likely flunk a test on the program's basic details.</p><p> Only one person<span>—</span><span>a retired woman in the South</span><span>—</span><span>out </span><span>of 1,513 surveyed recently by life insurer MassMutual answered all 12 questions right on an elementary test about Social Security retirement benefits</span><span>.</span><span> </span><strong style="font-size:14px">(<a href="http://twitter.com/share?url=http://cnb.cx/1TgODzg&amp;amp;text=Only%20one%20person%20out%20of%201,513%20got%20all%20questions%20right%20on%20a%20basic%20quiz%20about%20Social%20Security%20benefits&amp;amp;via=CNBC" target="_blank">Tweet This</a>)</strong><span> </span><span>More than seven out of 10 people received a failing grade.</span></p><div style="height:100%" class="lazyload-placeholder"></div><p> <span>(Take CNBC's quiz below to see how your Social Security knowledge stacks up.)</span></p><div class="ArticleBody-blockquote"> <p> <a href="https://www.cnbc.com/2015/06/11/how-much-do-you-know-about-social-security.html">Quiz: How much do you know about Social Security?</a> </p></div><p> "Perhaps the greatest Social Security deficit in this country—and what's lost in today's discussions about Social Security—is how little most Americans even know about this retirement benefit," said Michael Fanning, MassMutual's executive vice president of the U.S. insurance group. "While we didn't expect every person to get 100 percent correct, we certainly hoped that more would receive a passing grade."</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/06/11/t-your-social-security-check.html">How to boost your Social Security check</a></p><p> Besides not knowing that the full retirement age <span>varies, depending on the year you were born, and that non-U.S. citizens can be eligible for Social Security retirement benefits,</span> 55 percent incorrectly said that they can continue working while collecting full Social Security retirement benefits regardless of their age.</p><p> While you can work and receive Social Security retirement benefits, if you have not reached full retirement age, your earnings will be subject to a <a href="http://www.socialsecurity.gov/retire%202/whileworking.htm" target="_blank">retirement earnings test</a>. If your income exceeds <span>$15,720 for 2015, for example, the Social Security Administration will</span><span> </span><span>deduct $1 from your benefit payments for every $2 you earn above the annual limit.</span></p><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p> Lack of knowledge did not diminish Americans optimism about receiving Social Security benefits. Sixty-three<span> percent of people surveyed by MassMutual believe Social Security will be available to them when they retire, but only </span><span>45 percent think the program will have sufficient funding.</span></p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/06/03/most-older-americans-fall-short-on-retirement-savings.html">29% of Americans 55+have no retirement savings</a></p><p> An earlier <a href="http://www.pewsocialtrends.org/2015/05/21/family-support-in-graying-societies/" target="_blank">survey</a> by the Pew <span>Research Center found that 41 percent of Americans think there will be no Social Security benefits for them when they retire and nearly a third expect reduced levels of benefits.</span><span>The Social Security and Medicare trustees' 2014 </span><a href="http://ssa.gov/oact/TR/2014/tr2014.pdf" target="_blank">report</a><span> projects that all the Social Security trust funds will be depleted by 2033. At that point, the agency will be able to pay out about 77 percent of retirement benefits from payroll taxes collected.</span></p><p> <span>"The </span><span>Social Security knowledge problem relates to a lack of basic financial literacy," </span>said Anna Rappaport, chair of the Society of Actuaries' Committee on Post-Retirement Needs and Risks. </p><p> Since many workers receive retirement information at the workplace, Rappaport said, employers can be a valuable resource in improving financial literacy, including information on Social Security. In fact, m<span>ore than 90 percent of 250 large employers said they want to introduce or expand their financial wellness programs this year, according to a </span><a href="http://www.aon.com/human-capital-consulting/thought-leadership/retirement/2015-hot-topics-in-retirement.jsp" target="_blank">survey</a><span> by benefits consulting firm Aon Hewitt.</span></p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/03/09/financial-wellness-coming-to-an-office-near-you.html">Financial wellness: Coming to an office near you</a></p><p> People's knowledge of Social Security tends to increase as they approach retirement, Rappaport said. Yet 40 percent of the people surveyed by MassMutual were 50 or older and among this group 62 percent failed the Social Security quiz.</p><p> <span>"This is very concerning, as many Americans may be at risk of underutilizing a critical component of their income stream and leaving Social Security retirement benefits they're entitled to on the table," </span>Fanning said. "Many may be putting their retirement plans in jeopardy."</p></div>

Social Security provides about 38 percent of the income for the elderly, but most Americans would likely flunk a test on the program's basic details. Only one person—a retired woman in the South—out of 1,513 surveyed recently by life insurer MassMutual answered all 12 questions right on an elementary test about Social Security retirement benefits. (Tweet This) More than seven out of 10 people received a failing grade. (Take CNBC's quiz below to see how your Social Security knowledge stacks up.) Quiz: How much do you know about Social Security? "Perhaps the greatest Social Security deficit in this country—and what's lost in today's discussions about Social Security—is how little most Americans even know about this retirement benefit," said Michael Fanning, MassMutual's executive vice president of the U.S. insurance group. "While we didn't expect every person to get 100 percent correct, we certainly hoped that more would receive a passing grade." Read MoreHow to boost your Social Security check Besides not knowing that the full retirement age varies, depending on the year you were born, and that non-U.S. citizens can be eligible for Social Security retirement benefits, 55 percent incorrectly said that they can continue working while collecting full Social Security retirement benefits regardless of their age. While you can work and receive Social Security retirement benefits, if you have not reached full retirement age, your earnings will be subject to a retirement earnings test. If your income exceeds $15,720 for 2015, for example, the Social Security Administration will deduct $1 from your benefit payments for every $2 you earn above the annual limit. Lack of knowledge did not diminish Americans optimism about receiving Social Security benefits. Sixty-three percent of people surveyed by MassMutual believe Social Security will be available to them when they retire, but only 45 percent think the program will have sufficient funding. Read More29% of Americans 55+have no retirement savings An earlier survey by the Pew Research Center found that 41 percent of Americans think there will be no Social Security benefits for them when they retire and nearly a third expect reduced levels of benefits.The Social Security and Medicare trustees' 2014 report projects that all the Social Security trust funds will be depleted by 2033. At that point, the agency will be able to pay out about 77 percent of retirement benefits from payroll taxes collected. "The Social Security knowledge problem relates to a lack of basic financial literacy," said Anna Rappaport, chair of the Society of Actuaries' Committee on Post-Retirement Needs and Risks. Since many workers receive retirement information at the workplace, Rappaport said, employers can be a valuable resource in improving financial literacy, including information on Social Security. In fact, more than 90 percent of 250 large employers said they want to introduce or expand their financial wellness programs this year, according to a survey by benefits consulting firm Aon Hewitt. Read MoreFinancial wellness: Coming to an office near you People's knowledge of Social Security tends to increase as they approach retirement, Rappaport said. Yet 40 percent of the people surveyed by MassMutual were 50 or older and among this group 62 percent failed the Social Security quiz. "This is very concerning, as many Americans may be at risk of underutilizing a critical component of their income stream and leaving Social Security retirement benefits they're entitled to on the table," Fanning said. "Many may be putting their retirement plans in jeopardy."

2021-10-30 14:12:18.176447

Wall Street looks to Yellen for possible end of jobless target

https://www.cnbc.com/2014/03/18/wall-street-looks-to-yellen-for-possible-end-of-jobless-target.html

2014-03-19T13:33:33+0000

Kate Gibson

CNBC

The Federal Open Market Committee on Wednesday concludes its two-day policy-setting session, and is widely expected to continue its current path of tapering while holding its benchmark interest rate near zero. The fireworks, if there are any, should come 30 minutes after the release of the FOMC decision, at the afternoon news conference, Janet Yellen's first press conference as Fed chair.Stocks were largely flat in early trading Wednesday, as the market watched and waited. "There are a number of things we're going to be looking for in the press release, but more importantly in the news conference after; this is a new Fed chairperson," said Paul Mangus, managing director of equity research and strategy at Wells Fargo Wealth Management.

cnbc, Articles, Market Insider, Janet Yellen, Federal Reserve System, The Fed, US: News, Market Outlook, Investment Strategy, Markets, U.S. Markets, source:tagname:CNBC US Source

<div class="group"><p> The Federal Open Market Committee on Wednesday concludes its two-day policy-setting session, and is widely expected to continue its current path of tapering while holding its benchmark interest rate near zero. </p><p> The fireworks, if there are any, should come 30 minutes after the release of the FOMC decision, at the afternoon news conference, <a href="https://www.cnbc.com/janet-yellen/">Janet Yellen</a>'s first press conference as <a href="https://www.cnbc.com/federal-reserve/">Fed</a> chair.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Stocks were largely flat in early trading Wednesday, as the market watched and waited.</p><p> "There are a number of things we're going to be looking for in the press release, but more importantly in the news conference after; this is a new Fed chairperson," said Paul Mangus, managing director of equity research and strategy at Wells Fargo Wealth Management. </p></div>,<div class="group"><p> The FOMC, which has held the benchmark interest rate at near zero since late 2008, is expected to continue that policy for an extended period while tapering its monthly asset purchases another $10 billion, to $55 billion.</p><p> But Yellen could signal a change in the threshold that the Fed has said would mark when it would start considering hiking the main interest rate from near zero.</p><p> Yellen could indicate "a broader range of economic indicators is being discussed, such as underemployment, the labor participation rate and inflation, rather than focusing strictly on unemployment, currently at 6.7 percent, and the target at 6.5 percent. We're very close to that," said Mangus.<br></p><div style="height:100%" class="lazyload-placeholder"></div><p> <em>(Watch:</em> <a href="https://www.cnbc.com/video/2014/03/18/putin-the-fed-your-money.html">Putin, the Fed and your money</a>)</p><p> "I think the market could look at that in a positive way if it (the Fed) was looking at a broader range, since there are a lot of areas of the economy that are still recovering," Mangus added.</p><p> "Not that she is going to light it up with her comments, but it may signal a different way of delivering the Fed's message, so for that we are very interested," Kevin Giddis, head of fixed income capital markets at Raymond James, said in emailed comments.</p><p> The central bank's decision-making seems "pretty straightforward, no moves on rates and the continuation of the reduction of stimulus," noted Giddis.</p><p> "We don't want to hear that they are not doing it, primarily because we need to get out of this painted corner," Chip Cobb, portfolio manager at BMT Asset Management, said of the Fed's tapering program.<br></p><p> <em>(Read more:</em> <a href="https://www.cnbc.com/2014/03/18/geopolitical-uncertainty-clouds-view-on-fed-taper-cnbc-survey.html">Wall St sharply divided on 2015: CNBC survey</a>)<br></p><p> "We want to hear at least that the economy is headed in the right direction; we don't want to hear the Fed is more concerned than the last meeting," Cobb said. </p><p> Yellen "seems to be the fairy godmother of the bull market because stock prices tend to rise on days that she speaks publicly about the economy and monetary policy," noted Ed Yardeni, chief investment strategist at Yardeni Research. <br></p><p>"I doubt she will say anything unexpected to rattle the market but after two consecutive days of big gains, 'a sell on the news' might be a scenario that could play out," offered Elliot Spar, market strategist at Stifel, Nicolaus &amp; Co.<br></p><p> "By the way, I hate predicting the market on a Fed day," Spar added.</p><p> <em>—By CNBC's Kate Gibson</em><br></p></div>

The Federal Open Market Committee on Wednesday concludes its two-day policy-setting session, and is widely expected to continue its current path of tapering while holding its benchmark interest rate near zero. The fireworks, if there are any, should come 30 minutes after the release of the FOMC decision, at the afternoon news conference, Janet Yellen's first press conference as Fed chair.Stocks were largely flat in early trading Wednesday, as the market watched and waited. "There are a number of things we're going to be looking for in the press release, but more importantly in the news conference after; this is a new Fed chairperson," said Paul Mangus, managing director of equity research and strategy at Wells Fargo Wealth Management. The FOMC, which has held the benchmark interest rate at near zero since late 2008, is expected to continue that policy for an extended period while tapering its monthly asset purchases another $10 billion, to $55 billion. But Yellen could signal a change in the threshold that the Fed has said would mark when it would start considering hiking the main interest rate from near zero. Yellen could indicate "a broader range of economic indicators is being discussed, such as underemployment, the labor participation rate and inflation, rather than focusing strictly on unemployment, currently at 6.7 percent, and the target at 6.5 percent. We're very close to that," said Mangus. (Watch: Putin, the Fed and your money) "I think the market could look at that in a positive way if it (the Fed) was looking at a broader range, since there are a lot of areas of the economy that are still recovering," Mangus added. "Not that she is going to light it up with her comments, but it may signal a different way of delivering the Fed's message, so for that we are very interested," Kevin Giddis, head of fixed income capital markets at Raymond James, said in emailed comments. The central bank's decision-making seems "pretty straightforward, no moves on rates and the continuation of the reduction of stimulus," noted Giddis. "We don't want to hear that they are not doing it, primarily because we need to get out of this painted corner," Chip Cobb, portfolio manager at BMT Asset Management, said of the Fed's tapering program. (Read more: Wall St sharply divided on 2015: CNBC survey) "We want to hear at least that the economy is headed in the right direction; we don't want to hear the Fed is more concerned than the last meeting," Cobb said. Yellen "seems to be the fairy godmother of the bull market because stock prices tend to rise on days that she speaks publicly about the economy and monetary policy," noted Ed Yardeni, chief investment strategist at Yardeni Research. "I doubt she will say anything unexpected to rattle the market but after two consecutive days of big gains, 'a sell on the news' might be a scenario that could play out," offered Elliot Spar, market strategist at Stifel, Nicolaus & Co. "By the way, I hate predicting the market on a Fed day," Spar added. —By CNBC's Kate Gibson

2021-10-30 14:12:18.212012

Putin trying to destroy Ukraine, says prime minister

https://www.cnbc.com/2014/09/13/ukraine-still-in-stage-of-war-prime-minister.html

2014-09-13T07:37:39+0000

CNBC

Ukraine's prime minister said on Saturday Russian President Vladimir Putin aimed to destroy Ukraine as an independent country and said only NATO could defend the ex-Soviet republic from external aggression. Kiev and its Western backers accuse Moscow of sending troops and tanks into eastern Ukraine in support of pro-Russian separatists battling Ukrainian forces in a conflict that has killed more than 3,000 people. Russia denies the accusations. A fragile ceasefire negotiated by envoys from Ukraine, Russia, the separatists and Europe's OSCE security watchdog, has been in place in eastern Ukraine for more than a week and is broadly holding despite sporadic violations. "We are still in a stage of war and the key aggressor is the Russian\ Federation ... Putin wants another frozen conflict (in eastern Ukraine)," Prime Minister Arseny Yatseniuk told a conference attended by European and Ukrainian lawmakers and business leaders. Yatseniuk said Putin would not be content only with Crimea - annexed by Moscow in March - and with Ukraine's mainly Russian-speaking eastern region. Read MoreUS expands sanctions to Russia's biggest bank "His goal is to take all of Ukraine ... Russia is a threat to the global order and to the security of the whole of Europe," said Yatseniuk, who is known for his hawkish rhetoric. Asked about future NATO membership, a red line for Russia, Yatseniuk said he realized the alliance was not ready now to admit Kiev, but added: "NATO in these particular circumstances is the only vehicle to protect Ukraine." There is no prospect of the Atlantic alliance admitting Ukraine, a sprawling country of 45 million people between central Europe and Russia, but Kiev has stepped up cooperation with NATO in a range of areas and has pressed member states to sell it weapons to help defeat the separatists. Russia 'bluffing' over sanctions Read MoreRussia Deputy PM: Sanctions not good for anybody Yatseniuk also praised a new wave of economic sanctions imposed on Russia by the European Union and the United States and said they posed a major threat to the Russian economy.

cnbc, Articles, Economy, Politics, US: News, Government Shutdown, source:tagname:Reuters

<div class="group"><p> Ukraine's prime minister said on Saturday Russian President Vladimir Putin aimed to destroy Ukraine as an independent country and said only NATO could defend the ex-Soviet republic from external aggression. </p><p> Kiev and its Western backers accuse Moscow of sending troops and tanks into eastern Ukraine in support of pro-Russian separatists battling Ukrainian forces in a conflict that has killed more than 3,000 people. Russia denies the accusations. </p><div style="height:100%" class="lazyload-placeholder"></div><p> A fragile ceasefire negotiated by envoys from Ukraine, Russia, the separatists and Europe's OSCE security watchdog, has been in place in eastern Ukraine for more than a week and is broadly holding despite sporadic violations. </p><p> "We are still in a stage of war and the key aggressor is the Russian\ Federation ... Putin wants another frozen conflict (in eastern Ukraine)," Prime Minister Arseny Yatseniuk told a conference attended by European and Ukrainian lawmakers and business leaders. </p><p> Yatseniuk said Putin would not be content only with Crimea - annexed by Moscow in March - and with Ukraine's mainly Russian-speaking eastern region. </p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/09/12/us-expands-russia-sanctions-to-sberbank-energy-firms.html">US expands sanctions to Russia's biggest bank</a><br></p><p> "His goal is to take all of Ukraine ... Russia is a threat to the global order and to the security of the whole of Europe," said Yatseniuk, who is known for his hawkish rhetoric. </p><div style="height:100%" class="lazyload-placeholder"></div><p> Asked about future NATO membership, a red line for Russia, Yatseniuk said he realized the alliance was not ready now to admit Kiev, but added: "NATO in these particular circumstances is the only vehicle to protect Ukraine." </p><p> There is no prospect of the Atlantic alliance admitting Ukraine, a sprawling country of 45 million people between central Europe and Russia, but Kiev has stepped up cooperation with NATO in a range of areas and has pressed member states to sell it weapons to help defeat the separatists. </p><p> <strong>Russia 'bluffing' over sanctions </strong></p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/09/09/russia-sanctions-not-good-for-global-economy-russia-deputy-pm.html">Russia Deputy PM: Sanctions not good for anybody</a><strong><br></strong></p><p> Yatseniuk also praised a new wave of economic sanctions imposed on Russia by the European Union and the United States and said they posed a major threat to the Russian economy. </p></div>,<div class="group"><p>"It is bluff (by Russia) to say it does not care about the sanctions," he said, noting that Russia relied heavily on its energy sector and some of the sanctions target its oil firms. <br></p><p> Western powers imposed new sanctions on Friday, tightening financial measures against Moscow in a move Putin called "a bit strange" in view of the ceasefire. </p><p> Yatseniuk defended his government's efforts, despite the conflict, to tackle rampant corruption and overhaul the creaking economy, adding: "It is very hard to attract investors when you have Russian tanks and artillery in your country." </p><p> Yatseniuk, whose centre-right People's Front party is expected to do well in a parliamentary election on Oct. 26, praised a decision on Friday to delay the implementation of a new trade pact with the European Union until the end of 2015. </p><p> <span class="label-read-more">Read More</span><br></p><p> Some have seen the decision to postpone the implementation of the deal as a diplomatic victory for Russia, which is opposed to closer economic ties between Kiev and the EU, but Yatseniuk said it would be good for Ukraine's own economy.</p><p> "We got a grace period. The EU opened its markets but Ukraine is still protected, so for Ukraine this is not a bad deal," he said. </p></div>

Ukraine's prime minister said on Saturday Russian President Vladimir Putin aimed to destroy Ukraine as an independent country and said only NATO could defend the ex-Soviet republic from external aggression. Kiev and its Western backers accuse Moscow of sending troops and tanks into eastern Ukraine in support of pro-Russian separatists battling Ukrainian forces in a conflict that has killed more than 3,000 people. Russia denies the accusations. A fragile ceasefire negotiated by envoys from Ukraine, Russia, the separatists and Europe's OSCE security watchdog, has been in place in eastern Ukraine for more than a week and is broadly holding despite sporadic violations. "We are still in a stage of war and the key aggressor is the Russian\ Federation ... Putin wants another frozen conflict (in eastern Ukraine)," Prime Minister Arseny Yatseniuk told a conference attended by European and Ukrainian lawmakers and business leaders. Yatseniuk said Putin would not be content only with Crimea - annexed by Moscow in March - and with Ukraine's mainly Russian-speaking eastern region. Read MoreUS expands sanctions to Russia's biggest bank "His goal is to take all of Ukraine ... Russia is a threat to the global order and to the security of the whole of Europe," said Yatseniuk, who is known for his hawkish rhetoric. Asked about future NATO membership, a red line for Russia, Yatseniuk said he realized the alliance was not ready now to admit Kiev, but added: "NATO in these particular circumstances is the only vehicle to protect Ukraine." There is no prospect of the Atlantic alliance admitting Ukraine, a sprawling country of 45 million people between central Europe and Russia, but Kiev has stepped up cooperation with NATO in a range of areas and has pressed member states to sell it weapons to help defeat the separatists. Russia 'bluffing' over sanctions Read MoreRussia Deputy PM: Sanctions not good for anybody Yatseniuk also praised a new wave of economic sanctions imposed on Russia by the European Union and the United States and said they posed a major threat to the Russian economy. "It is bluff (by Russia) to say it does not care about the sanctions," he said, noting that Russia relied heavily on its energy sector and some of the sanctions target its oil firms. Western powers imposed new sanctions on Friday, tightening financial measures against Moscow in a move Putin called "a bit strange" in view of the ceasefire. Yatseniuk defended his government's efforts, despite the conflict, to tackle rampant corruption and overhaul the creaking economy, adding: "It is very hard to attract investors when you have Russian tanks and artillery in your country." Yatseniuk, whose centre-right People's Front party is expected to do well in a parliamentary election on Oct. 26, praised a decision on Friday to delay the implementation of a new trade pact with the European Union until the end of 2015. Read More Some have seen the decision to postpone the implementation of the deal as a diplomatic victory for Russia, which is opposed to closer economic ties between Kiev and the EU, but Yatseniuk said it would be good for Ukraine's own economy. "We got a grace period. The EU opened its markets but Ukraine is still protected, so for Ukraine this is not a bad deal," he said.

2021-10-30 14:12:18.482759

Cramer: Costco could gain from falling oil prices

https://www.cnbc.com/2015/01/08/cramer-costco-could-gain-on-falling-oil-prices.html

2015-01-08T15:44:21+0000

Fred Imbert

CNBC

Retailers such as Costco could see a big benefit as oil prices keep dropping, according to Jim Cramer. "Raw costs are coming down, and at the same time there is more traffic," he said on CNBC's "Squawk on the Street" Thursday. "People are spending again and that's the theme." Read More Why oil will go even lower The retailer reported on Thursday its December same-store sales grew 3 percent, 0.2 percent above estimates.Read More Don't fret over oil's effects... yet: McNamee Cramer added "there's way too much being talked about [that] capital expenditures in oil is coming down. "That's really concentrated in Texas, Louisiana and North Dakota," he said. "Let's not lose sight of the fact that $1,000 more in people's pocket is being spent in retail."Disclaimer

cnbc, Articles, Stock markets, Retail industry, Oil and Gas, Costco Wholesale Corp, stocks, Oil, Retail, Squawk on the Street, Markets, Stocks, source:tagname:CNBC US Source

<div class="group"><p> Retailers such as <a href="//www.cnbc.com/quotes/COST" target="_blank">Costco</a> could see a big benefit as oil prices keep dropping, according to Jim Cramer.</p><p> "Raw costs are coming down, and at the same time there is more traffic," he said on CNBC's "<a href="https://www.cnbc.com/squawk-on-the-street/">Squawk on the Street</a>" Thursday. "People are spending again and that's the theme."</p><div style="height:100%" class="lazyload-placeholder"></div><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/2015/01/07/why-oil-will-go-even-lower.html">Why oil will go even lower</a><br></p><p> The retailer reported on Thursday its December same-store sales grew 3 percent, 0.2 percent above estimates.</p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/01/05/dont-fret-over-oils-effectsyet-mcnamee.html"> Don't fret over oil's effects... yet: McNamee</a><br></p><p> Cramer added "there's way too much being talked about [that] capital expenditures in oil is coming down.</p><p> "That's really concentrated in Texas, Louisiana and North Dakota," he said. "Let's not lose sight of the fact that $1,000 more in people's pocket is being spent in retail."</p><p><a href="https://www.cnbc.com/stocks-disclaimer.html"><em>Disclaimer</em></a></p></div>,<div class="group"></div>

Retailers such as Costco could see a big benefit as oil prices keep dropping, according to Jim Cramer. "Raw costs are coming down, and at the same time there is more traffic," he said on CNBC's "Squawk on the Street" Thursday. "People are spending again and that's the theme." Read More Why oil will go even lower The retailer reported on Thursday its December same-store sales grew 3 percent, 0.2 percent above estimates.Read More Don't fret over oil's effects... yet: McNamee Cramer added "there's way too much being talked about [that] capital expenditures in oil is coming down. "That's really concentrated in Texas, Louisiana and North Dakota," he said. "Let's not lose sight of the fact that $1,000 more in people's pocket is being spent in retail."Disclaimer

2021-10-30 14:12:18.518822

An Interview with Richard Fisher

https://www.cnbc.com/2011/08/19/an-interview-with-richard-fisher.html

2011-08-19T16:24:06+0000

CNBC

Richard Fisher, Dallas Fed president, explains his dissent on two more years of a zero interest rate target. He believes the Fed has created enough liquidity, but it's tax and regulatory barriers that have blocked growth and job creation. He also responds to GOP attacks on the Fed. You're looking at a future Treasury secretary here. Questions? Comments, send your emails to: lkudlow@kudlow.com

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<div class="group"><p>Richard Fisher, Dallas Fed president, explains his dissent on two more years of a zero interest rate target. </p><p>He believes the Fed has created enough liquidity, but it's tax and regulatory barriers that have blocked growth and job creation. He also responds to GOP attacks on the Fed. </p><div style="height:100%" class="lazyload-placeholder"></div><p>You're looking at a future Treasury secretary here. </p><p><em>Questions? Comments, send your emails to: <a href="mailto:lkudlow@kudlow.com" class="webresource" target="_blank">lkudlow@kudlow.com</a></em></p></div>

Richard Fisher, Dallas Fed president, explains his dissent on two more years of a zero interest rate target. He believes the Fed has created enough liquidity, but it's tax and regulatory barriers that have blocked growth and job creation. He also responds to GOP attacks on the Fed. You're looking at a future Treasury secretary here. Questions? Comments, send your emails to: lkudlow@kudlow.com

2021-10-30 14:12:18.550625

4 phrases to give up if you want to get more out of your career

https://www.cnbc.com/2017/06/16/4-phrases-to-give-up-if-you-want-to-get-more-out-of-your-career.html

2017-06-16T19:38:48+0000

Marguerite Ward

CNBC

You can probably think of 100 reasons why you won't succeed, according to behavioral economics and negotiation expert Keld Jensen.

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2021-10-30 14:12:18.587907

How to nail a pitch to a &lsquo;Shark&rsquo;

https://www.cnbc.com/2016/03/04/how-to-nail-a-pitch-to-a-shark-commentary.html

2016-03-04T12:09:11-0500

CNBC

Being an angel investor is pretty amazing. You're constantly learning about new businesses and meeting driven entrepreneurs willing to risk everything to follow their dreams. You're pulling for them, and you hope to be part of their journey in reaching success. That's why it's also heartbreaking when you see an entrepreneur make a misstep because you know how much is at stake! If you can believe it, I've seen entrepreneurs pitch and never once mention their own backgrounds ... when they are the most important driver of the business! I've also seen entrepreneurs finish pitching, leave the room, and then hear my angel investor colleagues say out loud that they still don't know what the company does. These are avoidable scenarios. Whether you're pitching to individual angel investors or a tank of "Sharks" on TV, here are some DO's and DON'Ts entrepreneurs should keep in mind during their pitch to increase their chances of success. 1. Explain your business model and exactly how you make money. This includes addressing pricing, costs, and margins. Your investors need to understand the economics of solving this problem or serving a need. 2. Explain why YOU are the best team to make this happen. Investors want to know your background and areas of expertise. We need to understand why we would bet on you vs. any other players in the space. 3. Address your competitive edge. That can include intellectual property, patent protection, and exclusive relationships. We need to understand what prevents others from replicating what you're doing. 4. Talk about your long-term vision for the company. This includes growth plans for future products and geographic markets. If you're raising money, we also need to know the terms and your "exit strategy" for return on capital. 5. Explain how your business scales. We want to know that this is more than just a niche opportunity. Describe how you would grow across a large customer base in various geographies while making the most of limited resources. And explain what your sales and marketing plan is for acquiring customers. 1. Launch into a long story before you say what you do. So don't start by talking about the customer's problem, the market, or your team. If you don't tell us what you do first, you've already lost our attention. 2. Forget to address any relevant legal issues and risks. We would never want to be blindsided by a government action or customer lawsuit. Help us understand the potential risks and how you're addressing them. 3. Stretch the truth! Be honest and authentic. Support your claims with facts, research, and data, and independently measure your results. If something sounds too good to be true to us, we know it probably is! 4. Forget to address seasonality or cyclicality of your product or industry. We need to understandthe volatility of sales and customer behavior so that we aren't surprised byunexpected changes in results. 5. Forget to show passion and deliver a great presentation! It's all about the entrepreneur after all, and we want to believe in you! Ideas are a dime a dozen, but a dynamic entrepreneur who knows how to execute is pure gold! Commentary by Alicia Syrett, the founder and CEO of Pantegrion Capital, an angel-investment vehicle focused on seed and early-stage investments. She currently serves on the board of New York Angels and is a recurring panelist on CNBC's "PowerPitch." A former entrepreneur herself, she now works actively with a number of start-ups on their advisory boards and speaks often in the startup ecosystem. Follow her on Twitter @aliciasyrett. See entrepreneurs pitch their big ideas on CNBC's Power Pitch & on Shark Tank Mon-Wed at 8PM ET/PT on CNBC. For more insight from CNBC contributors, follow @CNBCopinion on Twitter.

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2021-10-30 14:12:18.741280

Is It Possible Tiger Needs To Warm Up?

https://www.cnbc.com/2009/03/13/is-it-possible-tiger-needs-to-warm-up.html

2009-03-13T19:48:28+0000

Darren Rovell

CNBC

When Tiger Woods returned from knee surgery a couple weeks ago, it seemed a bit strange that virtually everyone thought he immediately would be in championship form.  Had there ever been an athlete in the history of sports who came back from surgery -- after eight months off -- with fewer questions about the future of his performance?Television ads ran promos of his weekend appearance and Nike showed its consumers what Tiger would be wearing. Then the world's No. 1 golfer lost in the second round of the WGC-Accenture Match Play Championship and didn't even make it to the weekend. Just a little rusty? Sure. We'll give him a mulligan. But we've been watching the leaderboard at WGC-CA Championship in Doral and it doesn't look good for Tiger to win this one either. Through 11 holes today, he's one under par and the current leaders, Jeev Milkha Singh and Prayad Marksaeng, are 11 strokes ahead. So we're going ask the taboo question, and maybe it's a bit early: Is it possible Tiger isn't as good as he was when he left? Questions?  Comments?  SportsBiz@cnbc.com

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<div class="group"><p>When Tiger Woods returned from knee surgery a couple weeks ago, it seemed a bit strange that virtually everyone thought he immediately would be in championship form.  </p><p>Had there ever been an athlete in the history of sports who came back from surgery -- after eight months off -- with fewer questions about the future of his performance?</p><div style="height:100%" class="lazyload-placeholder"></div><p>Television ads ran promos of his weekend appearance and Nike showed its consumers what Tiger would be wearing. Then the world's No. 1 golfer lost in the second round of the WGC-Accenture Match Play Championship and didn't even make it to the weekend. </p><p>Just a little rusty? Sure. We'll give him a mulligan. </p><p>But we've been watching the leaderboard at WGC-CA Championship in Doral and it doesn't look good for Tiger to win this one either. Through 11 holes today, he's <a href="http://www.pgatour.com/players/00/87/93/scorecards/2009/r473.html" target="_blank">one under par</a> and the current leaders, Jeev Milkha Singh and Prayad Marksaeng, are 11 strokes ahead. </p><p>So we're going ask the taboo question, and maybe it's a bit early: Is it possible Tiger isn't as good as he was when he left? </p><p><em>Questions?  Comments?  </em><a href="mailto:SportsBiz@cnbc.com" class="webresource" target="_blank">SportsBiz@cnbc.com</a></p></div>

When Tiger Woods returned from knee surgery a couple weeks ago, it seemed a bit strange that virtually everyone thought he immediately would be in championship form.  Had there ever been an athlete in the history of sports who came back from surgery -- after eight months off -- with fewer questions about the future of his performance?Television ads ran promos of his weekend appearance and Nike showed its consumers what Tiger would be wearing. Then the world's No. 1 golfer lost in the second round of the WGC-Accenture Match Play Championship and didn't even make it to the weekend. Just a little rusty? Sure. We'll give him a mulligan. But we've been watching the leaderboard at WGC-CA Championship in Doral and it doesn't look good for Tiger to win this one either. Through 11 holes today, he's one under par and the current leaders, Jeev Milkha Singh and Prayad Marksaeng, are 11 strokes ahead. So we're going ask the taboo question, and maybe it's a bit early: Is it possible Tiger isn't as good as he was when he left? Questions?  Comments?  SportsBiz@cnbc.com

2021-10-30 14:12:18.894685

More deregulation is coming to the US, Commerce Secretary Wilbur Ross says

https://www.cnbc.com/2017/11/06/more-deregulation-is-coming-to-the-us-commerce-secretary-wilbur-ross-says.html

2017-11-06T11:45:48+0000

Sam Meredith,Geoff Cutmore

CNBC

Commerce Secretary Wilbur Ross said Monday that already "thrilled" business executives should expect even more regulatory relief over the coming months. "I believe a good portion of the reason for why the economy has gotten better is regulatory relief and there's going to be more to come," Ross told CNBC on Monday."Trump has cancelled 860 rules and regulations that had been imposed by the Obama administration and there's barely a single CEO that comes to my office who isn't thrilled with the regulatory relief," he said.Ross said the Trump administration had been able to deliver on deregulation policies because the president was able to exercise his executive powers in order to achieve these aims. And while other campaign pledges were yet to come to fruition, the U.S. commerce secretary said it would be unfair to blame President Donald Trump "when Congress fails to act on something."Trump is still searching for his first major legislative victory since becoming president.

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<div class="group"><p>Commerce Secretary <a href="https://www.cnbc.com/wilbur-ross/">Wilbur Ross</a> said Monday that already "thrilled" business executives should expect even more regulatory relief over the coming months. <br><br>"I believe a good portion of the reason for why the economy has gotten better is regulatory relief and there's going to be more to come," Ross told CNBC on Monday.</p><p>"Trump has cancelled 860 rules and regulations that had been imposed by the <a href="https://www.cnbc.com/barack-obama/">Obama</a> administration and there's barely a single CEO that comes to my office who isn't thrilled with the regulatory relief," he said.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Ross said the Trump administration had been able to deliver on deregulation policies because the president was able to exercise his executive powers in order to achieve these aims. And while other campaign pledges were yet to come to fruition, the U.S. commerce secretary said it would be unfair to blame <a href="https://www.cnbc.com/donald-trump/">President Donald Trump</a> "when Congress fails to act on something."</p><p>Trump is still searching for his first major legislative victory since becoming president.<strong> </strong></p></div>,<div class="group"><p>House and Senate Republicans are currently on a <a href="https://www.cnbc.com/2017/10/30/trump-tax-overhaul-under-intensifying-fire-as-congress-readies-bill.html">fast-track to pass separate tax bills</a> before the Thanksgiving holiday. Republican lawmakers would then look to iron out any differences in December and attempt to send a final version to Trump's desk before the year ends. Analysts say it is likely Trump's tax overhaul could be delayed until 2018.</p><p>Meanwhile, the U.S. president has sought to take credit for the uptick in economic growth from the first quarter of 2017 and last year. In a tweet on Saturday morning, the former New York businessman touted low unemployment figures and a roaring stock market.</p><p><strong><a href="https://twitter.com/realDonaldTrump/status/926789876556500992" target="_blank">Tweet 1</a></strong></p><div style="height:100%" class="lazyload-placeholder"></div><p>The U.S. economy has expanded at a steady pace in recent months, with gross domestic product (<a href="https://www.cnbc.com/gdp/">GDP</a>) growing at an annual rate of 3 percent in the most recent quarter. Meantime, job growth has decelerated over the same period, with the hurricanes hastening this slowdown.</p><p>However, former Obama-era Treasury Secretary Jack Lew <a href="https://www.cnbc.com/2017/11/01/ex-obama-treasury-secretary-jack-lew-we-left-pretty-strong-economy.html">told CNBC on Wednesday</a> that it is too early to tell whether those 3 percent levels would be here to stay.</p><p>"We've seen over the last five (or) 10 years a trend of quarters being very uneven," Lew said, pointing out that there were quarters during the Obama administration that were "better than we just saw."</p><p><em>— CNBC's Matthew J. Belvedere and Reuters contributed to this report.</em></p></div>

Commerce Secretary Wilbur Ross said Monday that already "thrilled" business executives should expect even more regulatory relief over the coming months. "I believe a good portion of the reason for why the economy has gotten better is regulatory relief and there's going to be more to come," Ross told CNBC on Monday."Trump has cancelled 860 rules and regulations that had been imposed by the Obama administration and there's barely a single CEO that comes to my office who isn't thrilled with the regulatory relief," he said.Ross said the Trump administration had been able to deliver on deregulation policies because the president was able to exercise his executive powers in order to achieve these aims. And while other campaign pledges were yet to come to fruition, the U.S. commerce secretary said it would be unfair to blame President Donald Trump "when Congress fails to act on something."Trump is still searching for his first major legislative victory since becoming president. House and Senate Republicans are currently on a fast-track to pass separate tax bills before the Thanksgiving holiday. Republican lawmakers would then look to iron out any differences in December and attempt to send a final version to Trump's desk before the year ends. Analysts say it is likely Trump's tax overhaul could be delayed until 2018.Meanwhile, the U.S. president has sought to take credit for the uptick in economic growth from the first quarter of 2017 and last year. In a tweet on Saturday morning, the former New York businessman touted low unemployment figures and a roaring stock market.Tweet 1The U.S. economy has expanded at a steady pace in recent months, with gross domestic product (GDP) growing at an annual rate of 3 percent in the most recent quarter. Meantime, job growth has decelerated over the same period, with the hurricanes hastening this slowdown.However, former Obama-era Treasury Secretary Jack Lew told CNBC on Wednesday that it is too early to tell whether those 3 percent levels would be here to stay."We've seen over the last five (or) 10 years a trend of quarters being very uneven," Lew said, pointing out that there were quarters during the Obama administration that were "better than we just saw."— CNBC's Matthew J. Belvedere and Reuters contributed to this report.

2021-10-30 14:12:19.318473

Cramer's game plan: Between the Fed, China and Apple, get ready for more volatility

https://www.cnbc.com/2018/12/07/cramers-game-plan-get-ready-for-more-volatility-from-apple-china.html

2018-12-07T23:13:54+0000

Lizzy Gurdus

CNBC

Investors should prepare themselves for more stock market swings as a host of "difficult crosscurrents" weigh on equities, CNBC's Jim Cramer said Friday as stocks traded lower."Now that the has gone negative for the year, let me give you one warning: I think we're going to have to slog through these volatility sessions for a bit," Cramer, host of "Mad Money," told investors."There are all sorts of difficult crosscurrents here: the trade war with China, the stunning weakness in stocks like bellwether Apple, which got a price target cut from the most influential analyst in the stock, Katy Huberty — it is now down for the year — and, of course, an errant Federal Reserve that's backed itself into a corner when it comes to the next rate hike," he said.Any developments on these complicated issues have the power to sway entire market groups, so Cramer recommended that investors stay vigilant in this challenging layout."Get used to these crosscurrents, because this is the new normal, at least for now," he said.With that in mind, here's Cramer's game plan for the week ahead:

cnbc, Articles, Centene Corp, Costco Wholesale Corp, Ciena Corp, Starbucks Corp, Under Armour Inc, Dave & Buster's Entertainment Inc, Stitch Fix Inc, Apple Inc, S&P 500 Index, Jim Cramer, Earnings reports, Earnings conference calls, Earnings estimates, Earnings announcements, Earnings outlook, Earnings Announcements, Earnings, Business, Investment strategy, Personal investing, Stock markets, Markets, Investing, Business News, Earnings Forecast, U.S. Business Day, U.S. Markets, S&P 500, stocks, Stock Picks, Investment Strategy, CNBC TV, Mad Money, source:tagname:CNBC US Source

<div class="group"><p>Investors should prepare themselves for more stock market swings as a host of "difficult crosscurrents" weigh on equities, CNBC's <a href="https://www.cnbc.com/jim-cramer-bio/">Jim Cramer</a> said Friday as <a href="https://www.cnbc.com/2018/12/07/stock-market-dow-futures-fall-ahead-of-unemployment-figures.html">stocks traded lower</a>.</p><p>"Now that the <!-- --> has gone negative for the year, let me give you one warning: I think we're going to have to slog through these volatility sessions for a bit," Cramer, host of <a href="https://www.cnbc.com/mad-money/">"Mad Money,"</a> told investors.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"There are all sorts of difficult crosscurrents here: the trade war with China, the stunning weakness in stocks like bellwether <a href="//www.cnbc.com/quotes/AAPL" target="_blank">Apple</a>, which got a <a href="https://www.cnbc.com/2018/12/07/morgan-stanley-joins-the-chorus-of-apple-price-target-cuts.html">price target cut</a> from the most influential analyst in the stock, Katy Huberty — it is now down for the year — and, of course, an errant <a href="https://www.cnbc.com/federal-reserve/">Federal Reserve</a> that's <a href="https://www.cnbc.com/2018/12/07/cramer-if-fed-doesnt-raise-rates-this-month-the-market-could-panic.html">backed itself into a corner</a> when it comes to the next rate hike," he said.</p><p>Any developments on these complicated issues have the power to sway entire market groups, so Cramer recommended that investors stay vigilant in this challenging layout.</p><p>"Get used to these crosscurrents, because this is the new normal, at least for now," he said.</p><p>With that in mind, here's Cramer's game plan for the week ahead:</p><p></p><div class="InlineImage-imageEmbed" id="ArticleBody-InlineImage-undefined" data-test="InlineImage"><div class="InlineImage-wrapper InlineImage-wrapperNoCaption"><div class="InlineImage-imagePlaceholder" style="padding-bottom:55.55555555555556%"><div style="height:100%" class="lazyload-placeholder"></div></div><div><div class="InlineImage-imageEmbedCaption"></div><div class="InlineImage-imageEmbedCredit"></div></div></div></div><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p>Online personal shopping service <a href="//www.cnbc.com/quotes/SFIX" target="_blank">Stitch Fix</a> will report earnings on Monday, and Cramer will be keeping a close eye on the company's results.</p><p>"E-commerce has become one of the most volatile areas in this market. I'm always trying to get a feel for it. Why? Because it's a huge driver of the new economy," he said. </p><p>"Stitch Fix crashed into a retaining wall at 60 miles an hour <a href="https://www.cnbc.com/2018/10/01/stitch-fix-shares-crater-as-revenue-active-clients-miss-estimates.html">the last time it reported</a>, [with the] stock losing <a href="https://www.cnbc.com/2018/10/02/stitch-fix-shares-skid-32-percent-on-disappointing-user-growth.html">a third of its value</a> in the same day," he continued. "If Stitch Fix can turn itself around, that's good news for the e-commerce cohort."</p></div>,<div class="group"><p>On Tuesday, investors will get a glimpse into the state of the experiential economy when <a href="//www.cnbc.com/quotes/PLAY" target="_blank">Dave &amp; Buster's</a> reports its quarterly results.</p><p>"Dave &amp; Buster's is also a terrific gauge of consumer spending, which, frankly, needs to stay strong here or else the economy is in real trouble," Cramer said. "I'm going to be listening to that conference call."</p></div>,<div class="group"><p>An Analyst Day at sports apparel maker <a href="//www.cnbc.com/quotes/UAA" target="_blank">Under Armour</a> will tell Cramer if it's time for investors to ring the register on the company's stock, which the "Mad Money" host began recommending when shares were still in the low teens.</p><p>"I bet CEO Kevin Plank tells a terrific story," he said. "I want to hear about the state of apparel and footwear both here and in China."</p></div>,<div class="group"><p><a href="//www.cnbc.com/quotes/SBUX" target="_blank">Starbucks</a>: The coffeemaker's Analyst Day will be nothing less than a "lovefest," but an educational one, Cramer said. He'll be on the lookout for newsmaking events, employee benefit upgrades and other special initiatives.</p><p>"Starbucks is on a roll right now and I expect CEO Kevin Johnson will give us a road map for a return to robust growth in the United States," Cramer said. "The company's putting up some excellent numbers in China, too. Let's see if they can keep it up, even with the escalating trade tensions."</p><p><a href="//www.cnbc.com/quotes/CIEN" target="_blank">Ciena</a>: Telecommunications equipment maker Ciena reports earnings on Thursday. Cramer wants insight into the ongoing rollout of fifth-generation wireless communications, also known as 5G, as well as the state of Ciena's Chinese competitors.</p><p><a href="//www.cnbc.com/quotes/COST" target="_blank">Costco</a>: Wholesaler Costco may have a difficult time when it reports earnings after Thursday's closing bell, Cramer warned. Still, he was eager to hear the retailer's insight on e-commerce and competition in the food segment.</p><p>"This is a situation where no matter how good things are, no matter how good the numbers come out, I doubt it can move the needle because the stock's already run," he said. "This week Costco gave us some spectacular November same-store sales figures, up 9.2 percent. I was looking for 5.4 percent. I don't see how they can top that number."</p></div>,<div class="group"><p>The "Mad Money" host expected health insurance giant <a href="//www.cnbc.com/quotes/CNC" target="_blank">Centene's</a> analyst meeting to be "excellent" as the government-sponsored health-care provider continues to win new states and contracts.</p><p>"I expect a darned good story," Cramer said. "That whole segment, by the way, of the market, along with the hospital group, has really held up better than just about anything else because it does so well in a slowdown, which is what people are now worried about: a Fed-induced slowdown."</p></div>,<div class="group"><p><em>Disclosure: Cramer's charitable trust owns shares of Apple.</em></p><div class="ArticleBody-blockquote"><p>Questions for Cramer?<br> Call Cramer: 1-800-743-CNBC</p><p>Want to take a deep dive into Cramer's world? Hit him up!<br> <a href="https://twitter.com/MadMoneyOnCNBC" target="_blank">Mad Money Twitter</a> - <a href="https://twitter.com/jimcramer" target="_blank">Jim Cramer Twitter</a> - <a href="https://www.facebook.com/madmoney?ref=aymt_homepage_panel" target="_blank">Facebook</a> - <a href="http://instagram.com/jimcramer" target="_blank">Instagram</a> - <a href="https://vine.co/u/984542302087651328" target="_blank">Vine</a></p><p>Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com</p></div></div>

Investors should prepare themselves for more stock market swings as a host of "difficult crosscurrents" weigh on equities, CNBC's Jim Cramer said Friday as stocks traded lower."Now that the has gone negative for the year, let me give you one warning: I think we're going to have to slog through these volatility sessions for a bit," Cramer, host of "Mad Money," told investors."There are all sorts of difficult crosscurrents here: the trade war with China, the stunning weakness in stocks like bellwether Apple, which got a price target cut from the most influential analyst in the stock, Katy Huberty — it is now down for the year — and, of course, an errant Federal Reserve that's backed itself into a corner when it comes to the next rate hike," he said.Any developments on these complicated issues have the power to sway entire market groups, so Cramer recommended that investors stay vigilant in this challenging layout."Get used to these crosscurrents, because this is the new normal, at least for now," he said.With that in mind, here's Cramer's game plan for the week ahead:Online personal shopping service Stitch Fix will report earnings on Monday, and Cramer will be keeping a close eye on the company's results."E-commerce has become one of the most volatile areas in this market. I'm always trying to get a feel for it. Why? Because it's a huge driver of the new economy," he said. "Stitch Fix crashed into a retaining wall at 60 miles an hour the last time it reported, [with the] stock losing a third of its value in the same day," he continued. "If Stitch Fix can turn itself around, that's good news for the e-commerce cohort."On Tuesday, investors will get a glimpse into the state of the experiential economy when Dave & Buster's reports its quarterly results."Dave & Buster's is also a terrific gauge of consumer spending, which, frankly, needs to stay strong here or else the economy is in real trouble," Cramer said. "I'm going to be listening to that conference call."An Analyst Day at sports apparel maker Under Armour will tell Cramer if it's time for investors to ring the register on the company's stock, which the "Mad Money" host began recommending when shares were still in the low teens."I bet CEO Kevin Plank tells a terrific story," he said. "I want to hear about the state of apparel and footwear both here and in China."Starbucks: The coffeemaker's Analyst Day will be nothing less than a "lovefest," but an educational one, Cramer said. He'll be on the lookout for newsmaking events, employee benefit upgrades and other special initiatives."Starbucks is on a roll right now and I expect CEO Kevin Johnson will give us a road map for a return to robust growth in the United States," Cramer said. "The company's putting up some excellent numbers in China, too. Let's see if they can keep it up, even with the escalating trade tensions."Ciena: Telecommunications equipment maker Ciena reports earnings on Thursday. Cramer wants insight into the ongoing rollout of fifth-generation wireless communications, also known as 5G, as well as the state of Ciena's Chinese competitors.Costco: Wholesaler Costco may have a difficult time when it reports earnings after Thursday's closing bell, Cramer warned. Still, he was eager to hear the retailer's insight on e-commerce and competition in the food segment."This is a situation where no matter how good things are, no matter how good the numbers come out, I doubt it can move the needle because the stock's already run," he said. "This week Costco gave us some spectacular November same-store sales figures, up 9.2 percent. I was looking for 5.4 percent. I don't see how they can top that number."The "Mad Money" host expected health insurance giant Centene's analyst meeting to be "excellent" as the government-sponsored health-care provider continues to win new states and contracts."I expect a darned good story," Cramer said. "That whole segment, by the way, of the market, along with the hospital group, has really held up better than just about anything else because it does so well in a slowdown, which is what people are now worried about: a Fed-induced slowdown."Disclosure: Cramer's charitable trust owns shares of Apple.Questions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - VineQuestions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

2021-10-30 14:12:19.471566

Oil demand to jump as Iraq pushes prices higher

https://www.cnbc.com/2014/06/13/oil-demand-to-jump-as-iraq-pushes-prices-higher.html

2014-06-13T17:18:45+0000

CNBC

As Iraq's mounting unrest pushes crude oil prices to a record high this year, a report Friday expects that global oil demand will increase and Iraq's production will be a vital component.The International Energy Agency report forecasts a jump in global oil demand, which affects both oil and gasoline prices, from 91.4 million barrels per day in 2014's first quarter to 94 million during its last three months. It also says that Iraq was expected to account for 60 percent of the production growth from the Organization of Petroleum Exporting Countries for the rest of this decade. Iraq, which has the world's fifth-largest proven oil reserves, is now OPEC's second-largest producer.(Where are oil prices now? Click here)

cnbc, Articles, Oil and Gas, Futures, World News, Wars and Military Conflicts, Iraq, Politics, White House, Middle East Turmoil, source:tagname:USA Today

<div class="group"><p> As <a href="https://www.cnbc.com/id/10000298">Iraq</a>'s mounting unrest pushes crude oil prices to a record high this year, a report Friday expects that global oil demand will increase and Iraq's production will be a vital component.</p><p><span>The International Energy Agency report forecasts a jump in global oil demand, which affects both oil and gasoline prices, from 91.4 million barrels per day in 2014's first quarter to 94 million during its last three months. It also says that Iraq was expected to account for 60 percent of the production growth from the Organization of Petroleum Exporting Countries for the rest of this decade. Iraq, which has the world's fifth-largest proven oil reserves, is now OPEC's second-largest producer.</span><br></p><div style="height:100%" class="lazyload-placeholder"></div><p><em>(<a href="https://www.cnbc.com/2014/06/12/us-crude-hits-9-month-high-amid-iraq-unrest.html">Where are oil prices now? Click here</a>)</em></p></div>,<div class="group"><p> "While Iraq's production potential is huge, so are the political hurdles it is facing," the IEA says, noting the significant gains that Sunni insurgents have made in the country's north since launching a military campaign earlier this month. The IEA says news of the Sunni advance sent prices for Brent crude — a benchmark for international oils — to nearly $113 a barrel, their highest so far this year.</p><p><em><strong>More from USAToday.com:</strong></em><br><a href="http://www.usatoday.com/story/news/world/2014/06/12/iraq-questions-isil-al-qaeda-maliki/10391333/" target="_blank">Five key questions about Iraq</a><br><a href="http://www.usatoday.com/story/news/politics/2014/06/13/americans-for-prosperity-ground-game-senate-elections/10416055/" target="_blank">Koch-linked groups boost staff, ads ahead of midterms</a><br><a href="http://www.usatoday.com/story/news/nation-now/2014/06/13/friday-the-thirteenth-origins-bad-luck/10376945/" target="_blank">Why Friday the 13th is known as a day of bad luck</a></p><p><span>Yet unless the conflict spreads, the IEA says it may not "put additional Iraqi oil supplies immediately at risk," because most of the recent production gains have occurred in the south. Iraq's oil production reached its highest level in three decades this year, but since March, it has fallen about 10 percent, and all its exports have come from southern terminals near Basra.</span><br></p></div>,<div class="group"><p> "The question is, who is going to fill the gap? Saudi Arabia? That's what the market is looking at,'' says John Kingston, global news director for industry tracker Platts Energy.</p><div style="height:100%" class="lazyload-placeholder"></div><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/06/12/oil-could-rise-another-15-oppenheimer-expert.html">Oil could rise another $15: Oppenheimer expert</a></p><p><span>The surge in oil prices could set the stage for a spike in gasoline prices, already on the rise. While gasoline averaged $3.58 a gallon between Memorial Day and Labor Day last year, retail prices have averaged about $3.65 for the past month.</span><br></p><p><span>Oil price increases are likely to drive the price of regular unleaded gasoline up 5 to 10 cents per gallon in the coming days and keep summer prices elevated, says Tom Kloza, senior energy analyst at gasbuddy.com.</span><br></p><p><span><em>— By Wendy Koch and Gary Strauss, USA Today</em></span></p></div>

As Iraq's mounting unrest pushes crude oil prices to a record high this year, a report Friday expects that global oil demand will increase and Iraq's production will be a vital component.The International Energy Agency report forecasts a jump in global oil demand, which affects both oil and gasoline prices, from 91.4 million barrels per day in 2014's first quarter to 94 million during its last three months. It also says that Iraq was expected to account for 60 percent of the production growth from the Organization of Petroleum Exporting Countries for the rest of this decade. Iraq, which has the world's fifth-largest proven oil reserves, is now OPEC's second-largest producer.(Where are oil prices now? Click here) "While Iraq's production potential is huge, so are the political hurdles it is facing," the IEA says, noting the significant gains that Sunni insurgents have made in the country's north since launching a military campaign earlier this month. The IEA says news of the Sunni advance sent prices for Brent crude — a benchmark for international oils — to nearly $113 a barrel, their highest so far this year.More from USAToday.com:Five key questions about IraqKoch-linked groups boost staff, ads ahead of midtermsWhy Friday the 13th is known as a day of bad luckYet unless the conflict spreads, the IEA says it may not "put additional Iraqi oil supplies immediately at risk," because most of the recent production gains have occurred in the south. Iraq's oil production reached its highest level in three decades this year, but since March, it has fallen about 10 percent, and all its exports have come from southern terminals near Basra. "The question is, who is going to fill the gap? Saudi Arabia? That's what the market is looking at,'' says John Kingston, global news director for industry tracker Platts Energy.Read MoreOil could rise another $15: Oppenheimer expertThe surge in oil prices could set the stage for a spike in gasoline prices, already on the rise. While gasoline averaged $3.58 a gallon between Memorial Day and Labor Day last year, retail prices have averaged about $3.65 for the past month.Oil price increases are likely to drive the price of regular unleaded gasoline up 5 to 10 cents per gallon in the coming days and keep summer prices elevated, says Tom Kloza, senior energy analyst at gasbuddy.com.— By Wendy Koch and Gary Strauss, USA Today

2021-10-30 14:12:19.510742

Rate hike odds spike across the board after Fed minutes

https://www.cnbc.com/2016/05/18/rate-hike-odds-spike-across-the-board-after-fed-minutes.html

2016-05-18T19:00:03+0000

Fred Imbert,Christine Wang

CNBC

Expectations for a June rate hike jumped as Federal Reserve meeting minutes released Wednesday showed that members would support it if economic data improved. Ahead of the release, market expectations for a rate rise next month were 19 percent, while the markets were expecting the first rate hike of 2016 to take place in September, according to the CME Group's FedWatch tool. After the statement, odds rose in all months tracked by CME: The odds of rate hikes this year have risen broadly this week, as several Fed officials delivered hawkish remarks. On Tuesday, three central bank officials indicated it may raise rates again soon.

cnbc, Articles, Central banking, Economy, Bitcoin, Federal Reserve System, Investment strategy, The Fed, US Economy, Central Banks, Investing, Business News, source:tagname:CNBC US Source

<div class="group"><p> Expectations for a June rate hike jumped as Federal Reserve meeting minutes released Wednesday showed that members would support it if economic data improved.</p><p> Ahead of the release, market expectations for a rate rise next month were 19 percent, while the markets were expecting the first rate hike of 2016 to take place in September, according to the CME Group's <a href="http://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html" target="_blank">FedWatch tool</a>.</p><div style="height:100%" class="lazyload-placeholder"></div><p> After the statement, odds rose in all months tracked by CME:</p><ul> <li>June: 34 percent chance, up from 19 percent before the 2 p.m. EDT release</li> <li>July: 51 percent chance, up from 38 percent </li> <li>September: 63 percent, up from 57 percent </li> <li>November: 65 percent, up from 60 percent </li> <li>December: 77 percent, up from 74 percent </li> <li>February 2017: 79 percent, up from 76 percent </li></ul><p> The odds of rate hikes this year have risen broadly this week, as several Fed officials delivered hawkish remarks. </p><p> On Tuesday, three central bank officials indicated it may raise rates again soon.</p></div>,<div class="group"><p> Dallas Fed President Robert Kaplan said the U.S. economy is strong enough to justify an interest rate hike in the "not too distant future," but increases will be very gradual.</p><p> San Francisco Fed President John Williams and Atlanta Fed President Dennis Lockhart both said the central bank's June meeting was a "live" one.</p><div style="height:100%" class="lazyload-placeholder"></div><p> In Fed jargon, a "live" meeting is one at which officials could debate whether to raise their benchmark short-term interest rate, which since December has been in a range between 0.25 and 0.50 percent.</p><p> <em>— Reuters contributed to this report.</em></p></div>

Expectations for a June rate hike jumped as Federal Reserve meeting minutes released Wednesday showed that members would support it if economic data improved. Ahead of the release, market expectations for a rate rise next month were 19 percent, while the markets were expecting the first rate hike of 2016 to take place in September, according to the CME Group's FedWatch tool. After the statement, odds rose in all months tracked by CME: June: 34 percent chance, up from 19 percent before the 2 p.m. EDT release July: 51 percent chance, up from 38 percent September: 63 percent, up from 57 percent November: 65 percent, up from 60 percent December: 77 percent, up from 74 percent February 2017: 79 percent, up from 76 percent The odds of rate hikes this year have risen broadly this week, as several Fed officials delivered hawkish remarks. On Tuesday, three central bank officials indicated it may raise rates again soon. Dallas Fed President Robert Kaplan said the U.S. economy is strong enough to justify an interest rate hike in the "not too distant future," but increases will be very gradual. San Francisco Fed President John Williams and Atlanta Fed President Dennis Lockhart both said the central bank's June meeting was a "live" one. In Fed jargon, a "live" meeting is one at which officials could debate whether to raise their benchmark short-term interest rate, which since December has been in a range between 0.25 and 0.50 percent. — Reuters contributed to this report.

2021-10-30 14:12:19.545848

Explosion Rocks Midtown Manhattan

https://www.cnbc.com/2007/07/18/explosion-rocks-midtown-manhattan.html

2007-07-19T00:41:29+0000

CNBC

A steam pipe exploded in midtown Manhattan on Wednesday, creating a roar and a huge plume of smoke and sending pedestrians fleeing from the area in scenes reminiscent of the Sept. 11 attacks. Officials in New York and Washington promptly ruled out a terrorist attack. Police at the scene said 15 to 20 people had been taken to hospitals. Boiling, brownish water and steam gushed geyser-like at least 120 feet high (36 metres) out of a crater about 20 feet wide (6 metres) on Lexington Avenue at 41st Street, one of the busiest areas of New York City near the Grand Central transportation hub.

cnbc, Articles, Business News, Economy, US Economy, US: News, source:tagname:Reuters

<div class="group"><p>A steam pipe exploded in midtown Manhattan on Wednesday, creating a roar and a huge plume of smoke and sending pedestrians fleeing from the area in scenes reminiscent of the Sept. 11 attacks. </p><p>Officials in New York and Washington promptly ruled out a terrorist attack. Police at the scene said 15 to 20 people had been taken to hospitals. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Boiling, brownish water and steam gushed geyser-like at least 120 feet high (36 metres) out of a crater about 20 feet wide (6 metres) on Lexington Avenue at 41st Street, one of the busiest areas of New York City near the Grand Central transportation hub. </p></div>,<div class="group"><p>The scene looked as if buildings were collapsing in a billow of debris as they did on Sept. 11, 2001 when the World Trade Center in lower Manhattan was destroyed.</p><p>"We ran down 43 floors thinking we were going to die," she said Megan Fletcher, 35. "It looked like when the buildings collapsed on 9/11," said Fletcher, who works for an Australian company in the Chrysler Building. "It was terrifying." </p><p>Police at the scene raised the concern of asbestos being strewn into the air. Rescue workers and those covered in the debris were being decontaminated at the scene by hazardous materials specialists. </p><p>Power utility Consolidated Edison said an underground steam pipe had exploded. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Pedestrians sprinted from the scene, many with cell phones glued to their ears, some crying. Some were covered in white ash and soot, others in mud. A small, yellow school bus stood by, badly damaged by the geyser.</p><p><strong>Havoc At Rush Hour</strong></p><p>"It looked like the World Trade Center had exploded. I saw rocks and pebbles coming down. As I was running I got pelted in the head by rocks and concrete. Steam came up and then the ground started breaking up," said Reggie Evans, an office administrator who was covered in mud. </p><p>Authorities evacuated a wide area including the emblematic Chrysler Building. </p><p>"This is not a terrorist-related incident. It's a steam explosion," said Deputy New York Police Department Commissioner Paul Browne. </p><p>The blast created a havoc at rush hour. Nearly 200 firefighters rushed to the scene, which was crowded with ambulances and fire engines. People wore masks to avoid breathing pollutants. </p><p>Kwang Choi, 57, was working at a laundromat one block away when the explosion occurred. "People just kept running. People were saying a building collapsed," he said. "I looked outside -- huge smoke, just like 9/11. I just ran." </p><p>Said 50-year-old computer worker Azad Mohamed: "Of course, the first thing you think about is terrorism. It's pretty scary." </p><p>Police insisted there was no building collapse. "We have a building that's a bit shaky, but nothing has collapsed," a police spokeswoman said, contradicting early witness reports from the scene that a building had collapsed. </p></div>

A steam pipe exploded in midtown Manhattan on Wednesday, creating a roar and a huge plume of smoke and sending pedestrians fleeing from the area in scenes reminiscent of the Sept. 11 attacks. Officials in New York and Washington promptly ruled out a terrorist attack. Police at the scene said 15 to 20 people had been taken to hospitals. Boiling, brownish water and steam gushed geyser-like at least 120 feet high (36 metres) out of a crater about 20 feet wide (6 metres) on Lexington Avenue at 41st Street, one of the busiest areas of New York City near the Grand Central transportation hub. The scene looked as if buildings were collapsing in a billow of debris as they did on Sept. 11, 2001 when the World Trade Center in lower Manhattan was destroyed."We ran down 43 floors thinking we were going to die," she said Megan Fletcher, 35. "It looked like when the buildings collapsed on 9/11," said Fletcher, who works for an Australian company in the Chrysler Building. "It was terrifying." Police at the scene raised the concern of asbestos being strewn into the air. Rescue workers and those covered in the debris were being decontaminated at the scene by hazardous materials specialists. Power utility Consolidated Edison said an underground steam pipe had exploded. Pedestrians sprinted from the scene, many with cell phones glued to their ears, some crying. Some were covered in white ash and soot, others in mud. A small, yellow school bus stood by, badly damaged by the geyser.Havoc At Rush Hour"It looked like the World Trade Center had exploded. I saw rocks and pebbles coming down. As I was running I got pelted in the head by rocks and concrete. Steam came up and then the ground started breaking up," said Reggie Evans, an office administrator who was covered in mud. Authorities evacuated a wide area including the emblematic Chrysler Building. "This is not a terrorist-related incident. It's a steam explosion," said Deputy New York Police Department Commissioner Paul Browne. The blast created a havoc at rush hour. Nearly 200 firefighters rushed to the scene, which was crowded with ambulances and fire engines. People wore masks to avoid breathing pollutants. Kwang Choi, 57, was working at a laundromat one block away when the explosion occurred. "People just kept running. People were saying a building collapsed," he said. "I looked outside -- huge smoke, just like 9/11. I just ran." Said 50-year-old computer worker Azad Mohamed: "Of course, the first thing you think about is terrorism. It's pretty scary." Police insisted there was no building collapse. "We have a building that's a bit shaky, but nothing has collapsed," a police spokeswoman said, contradicting early witness reports from the scene that a building had collapsed.

2021-10-30 14:12:19.581823

7 successful entrepreneurs share the advice they'd give to their 20-year-old selves

https://www.cnbc.com/2016/09/22/7-successful-entrepreneurs-share-the-advice-theyd-give-to-their-20-year-old-selves.html

2016-09-22T14:06:44+0000

Kathleen Elkins

CNBC

It's impossible to get everything right in your 20s — after all, there's no handbook for the "real world." CNBC asked a handful of successful entrepreneurs and members of the YPO chief executive network what they would tell their younger selves if they could do it all over. Here's what they had to say:

makeit, Articles, Young Presidents' Organization, Business, Leadership, Make It - Entrepreneurs , Entrepreneurship, Career advice, Make It - Definitive Guide to Business, Make It - Careers, YPO Global Leadership Summit, Entrepreneurs, Make It - Leadership, Make It, The Profit, Special Reports, Make It - Success, Make It - Power Players, source:tagname:CNBC US Source

2021-10-30 14:12:19.611830

White House plans to let House release GOP memo on Russia probe, if Trump approves it

https://www.cnbc.com/2018/02/01/white-house-would-be-appropriate-for-house-to-release-gop-russia-memo.html

2018-02-01T16:48:41+0000

Eamon Javers,Mike Calia

CNBC

A hotly debated Republican memo about the FBI's probe into alleged connections between the Trump campaign and Russia could be released Friday, the White House said.President Donald Trump is expected to declassify the note, but the White House said Trump will leave it to lawmakers to make it public. The president has yet to make a final decision.The release could come despite the FBI's "grave concerns" and the Justice Department's objections. However, NBC News, citing White House officials, said that the White House has agreed to some redactions in the memo at the FBI's request. The redactions, though, would not fix Democrats and the FBI's central problem with the memo: that it leaves out important context and information, making it misleading.An intelligence official told NBC that a formal declassification process is under way, with the Office of the Director of National Intelligence determining which agencies are implicated in the memo, particularly the FBI.

cnbc, Articles, Congress, Donald Trump, Politics, White House, source:tagname:CNBC US Source

<div class="group"><p>A hotly debated Republican memo about the FBI's probe into alleged connections between the Trump campaign and Russia could be released Friday, the White House said.</p><p>President Donald Trump is expected to declassify the note, but the White House said Trump will leave it to lawmakers to make it public. The president has yet to make a final decision.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The release could come despite the FBI's "grave concerns" and the Justice Department's objections. However, NBC News, citing White House officials, said that the White House has agreed to some redactions in the memo at the FBI's request. The redactions, though, would not fix Democrats and the FBI's central problem with the memo: that it leaves out important context and information, making it misleading.</p><p>An intelligence official told NBC that a formal declassification process is under way, with the Office of the Director of National Intelligence determining which agencies are implicated in the memo, particularly the FBI. </p></div>,<div class="group"><p>The document was penned by California Rep. Devin Nunes, the Republican chairman of the House Intelligence Committee, who also served on <a href="https://www.cnbc.com/donald-trump/">Trump</a>'s transition team.</p><p>White House press secretary Sarah Huckabee Sanders told CNBC that the release could happen Friday, although it's not set in stone. Trump has read the memo, NBC News reported, citing several White House officials.</p><p>The White House doesn't plan to directly release the memo, according to spokesman Raj Shah: "That's not the plan right now." </p><div style="height:100%" class="lazyload-placeholder"></div><p>"It's a legislative document, and so, you know, we believe it's appropriate for the legislature to be the ones to roll it out," Shah said. </p><p>Shah also said the memo is going through a "process" led by the White House counsel's office that requires input from law enforcement and intelligence officials. Once Trump decides whether to release the memo, the White House counsel's office will let the House Intelligence Committee know.</p><p>The panel had voted along party lines to approve the release of the memo, which Nunes put together. The memo, which has been hyped by Trump supporters and partisan pundits, is said to focus on the FBI's alleged use of a dossier compiled by former British spy Christopher Steele, who was paid by Democrats for his investigation of Trump's interactions with Russians.</p><p><a href="https://www.cnbc.com/2018/02/01/pelosi-demands-rep-devin-nunes-removal-from-intelligence-committee.html">House Minority Leader Nancy Pelosi on Thursday demanded that House Speaker Paul Ryan remove Nunes as chairman of the intelligence panel, saying he has "disgraced" the panel</a>.</p><p>The ranking Democratic member of the committee, Adam Schiff of California, <a href="https://www.cnbc.com/2018/02/01/rep-adam-schiff-republicans-altered-classified-trump-russia-memo.html">released a statement late Wednesday that said Nunes altered the memo</a> after the committee's vote to release it to the White House.</p><p>Schiff also wrote a memo to rival the Republicans' document, but the House intelligence panel voted against releasing the Democrat's document.</p></div>,<div class="group"></div>,<div class="group"></div>

A hotly debated Republican memo about the FBI's probe into alleged connections between the Trump campaign and Russia could be released Friday, the White House said.President Donald Trump is expected to declassify the note, but the White House said Trump will leave it to lawmakers to make it public. The president has yet to make a final decision.The release could come despite the FBI's "grave concerns" and the Justice Department's objections. However, NBC News, citing White House officials, said that the White House has agreed to some redactions in the memo at the FBI's request. The redactions, though, would not fix Democrats and the FBI's central problem with the memo: that it leaves out important context and information, making it misleading.An intelligence official told NBC that a formal declassification process is under way, with the Office of the Director of National Intelligence determining which agencies are implicated in the memo, particularly the FBI. The document was penned by California Rep. Devin Nunes, the Republican chairman of the House Intelligence Committee, who also served on Trump's transition team.White House press secretary Sarah Huckabee Sanders told CNBC that the release could happen Friday, although it's not set in stone. Trump has read the memo, NBC News reported, citing several White House officials.The White House doesn't plan to directly release the memo, according to spokesman Raj Shah: "That's not the plan right now." "It's a legislative document, and so, you know, we believe it's appropriate for the legislature to be the ones to roll it out," Shah said. Shah also said the memo is going through a "process" led by the White House counsel's office that requires input from law enforcement and intelligence officials. Once Trump decides whether to release the memo, the White House counsel's office will let the House Intelligence Committee know.The panel had voted along party lines to approve the release of the memo, which Nunes put together. The memo, which has been hyped by Trump supporters and partisan pundits, is said to focus on the FBI's alleged use of a dossier compiled by former British spy Christopher Steele, who was paid by Democrats for his investigation of Trump's interactions with Russians.House Minority Leader Nancy Pelosi on Thursday demanded that House Speaker Paul Ryan remove Nunes as chairman of the intelligence panel, saying he has "disgraced" the panel.The ranking Democratic member of the committee, Adam Schiff of California, released a statement late Wednesday that said Nunes altered the memo after the committee's vote to release it to the White House.Schiff also wrote a memo to rival the Republicans' document, but the House intelligence panel voted against releasing the Democrat's document.

2021-10-30 14:12:19.770684

Driverless cars will become like your iPhone: Carmakers

https://www.cnbc.com/2016/01/25/driverless-cars-will-become-like-your-iphone-carmakers.html

2016-01-25T11:50:21+0000

Arjun Kharpal

CNBC

The driverless car will become like your mobile phone: Something that you'll much rather own than hire, leading carmakers told CNBC as they face the threat that ride-sharing apps such as Uber could disrupt the autonomous car space. Last year, Uber, the world's most valuable start-up, announced it was developing autonomous vehicles. If you could order a self-driving taxi at the tap of a button, why would car ownership be necessary? But two major auto giants aren't worried and said that while Uber will enjoy great success, the connected car will become a consumer device that people will want to own. "If you think that you have a car only for mere cold transportation, then you can take bus, you can take a taxi, and Uber is going to develop the taxi system…then yes, right, you don't need to buy a car," Carlos Ghosn, the chief executive of Renault-Nissan, said during a CNBC technology event at Davos last week. "But people use a car for many other things and with the connectivity coming, the car is going to become a kind of working space, it's going to become a living space. Because if in the car you can connect, interface, video conference… it becomes your own space, you're going to have your own photos, your own email, your own music, your own calls, your own everything, it becomes like your iPhone, you want something belonging to you."

cnbc, Articles, Autos, Technology, Tech Transformers, source:tagname:CNBC Europe Source

<div class="group"><p> The driverless car will become like your mobile phone: Something that you'll much rather own than hire, leading carmakers told CNBC as they face the threat that ride-sharing apps such as Uber could disrupt the autonomous car space. </p><p> Last year, Uber, the world's most valuable start-up, announced it was <a href="https://www.cnbc.com/2015/02/03/uber-to-develop-driverless-cars-in-google-challenge.html">developing autonomous vehicles</a>. If you could order a self-driving taxi at the tap of a button, why would car ownership be necessary? </p><div style="height:100%" class="lazyload-placeholder"></div><p> But two major auto giants aren't worried and said that while Uber will enjoy great success, the connected car will become a consumer device that people will want to own.</p><p> "If you think that you have a car only for mere cold transportation, then you can take bus, you can take a taxi, and Uber is going to develop the taxi system…then yes, right, you don't need to buy a car," Carlos Ghosn, the chief executive of Renault-Nissan, said during a CNBC technology event at Davos last week. </p><p> "But people use a car for many other things and with the connectivity coming, the car is going to become a kind of working space, it's going to become a living space. Because if in the car you can connect, interface, video conference… it becomes your own space, you're going to have your own photos, your own email, your own music, your own calls, your own everything, it becomes like your iPhone, you want something belonging to you."</p><br></div>,<div class="group"><p> As well as the connected experience of cars, the use cases will continue to differ in the future. While Uber might be useful for "megacities" in which parking and congestion is a problem, other areas will still see car ownership continue, according to one Volvo Cars executive. </p><p> "You have a different transportation need when you go from the cities to the suburban areas and if you go to the countryside you have a different transportation need. And I think this is also part of the development of the automotive industry and ecosystem…addressing various needs from the consumer perspective," Klas Bendrik, chief information officer at Volvo Cars, told CNBC. </p><div style="height:100%" class="lazyload-placeholder"></div><p> Volvo recently struck a partnership with Microsoft to use the U.S. company's HoloLens augmented reality headsets in its showrooms to <a href="https://www.cnbc.com/2015/11/20/microsoft-volvo-strike-deal-to-make-driverless-cars.html">help people buy and develop driverless car technology</a>. </p><br></div>,<div class="group"><p> Analysts and carmakers are optimistic on the prospects of autonomous vehicles. Juniper Research forecasts almost 20 million fully autonomous or self-driving vehicles on the road by 2025, with consumer adoption set to take off in 2021.</p><p> Some however are predicting a much quicker adoption. Recently, <a href="https://www.cnbc.com/2016/01/11/tesla-cars-can-now-park-themselves-after-software-update-summon-detroit-auto-show.html">Tesla boss Elon Musk said</a> the company's cars could pick you up by themselves from the other side of the country by 2018. </p><p> But not all share Musk's very short timeline. Ghosn said that while Renault is testing autonomous vehicles in Palo Alto, California, regulation and <a href="https://www.cnbc.com/2016/01/08/driverless-cars-confused-by-cyclists.html">reliability of the cars</a> could stop them getting into consumers' hands any time soon.</p><p> "I'm a little bit skeptical when a carmaker…says we are going to be able to sell cars, autonomously driven, before 2020, in 2018, when the regulation is not ready. And we know the technology is still in a prototype phase," Ghosn said. </p><br></div>

The driverless car will become like your mobile phone: Something that you'll much rather own than hire, leading carmakers told CNBC as they face the threat that ride-sharing apps such as Uber could disrupt the autonomous car space. Last year, Uber, the world's most valuable start-up, announced it was developing autonomous vehicles. If you could order a self-driving taxi at the tap of a button, why would car ownership be necessary? But two major auto giants aren't worried and said that while Uber will enjoy great success, the connected car will become a consumer device that people will want to own. "If you think that you have a car only for mere cold transportation, then you can take bus, you can take a taxi, and Uber is going to develop the taxi system…then yes, right, you don't need to buy a car," Carlos Ghosn, the chief executive of Renault-Nissan, said during a CNBC technology event at Davos last week. "But people use a car for many other things and with the connectivity coming, the car is going to become a kind of working space, it's going to become a living space. Because if in the car you can connect, interface, video conference… it becomes your own space, you're going to have your own photos, your own email, your own music, your own calls, your own everything, it becomes like your iPhone, you want something belonging to you." As well as the connected experience of cars, the use cases will continue to differ in the future. While Uber might be useful for "megacities" in which parking and congestion is a problem, other areas will still see car ownership continue, according to one Volvo Cars executive. "You have a different transportation need when you go from the cities to the suburban areas and if you go to the countryside you have a different transportation need. And I think this is also part of the development of the automotive industry and ecosystem…addressing various needs from the consumer perspective," Klas Bendrik, chief information officer at Volvo Cars, told CNBC. Volvo recently struck a partnership with Microsoft to use the U.S. company's HoloLens augmented reality headsets in its showrooms to help people buy and develop driverless car technology. Analysts and carmakers are optimistic on the prospects of autonomous vehicles. Juniper Research forecasts almost 20 million fully autonomous or self-driving vehicles on the road by 2025, with consumer adoption set to take off in 2021. Some however are predicting a much quicker adoption. Recently, Tesla boss Elon Musk said the company's cars could pick you up by themselves from the other side of the country by 2018. But not all share Musk's very short timeline. Ghosn said that while Renault is testing autonomous vehicles in Palo Alto, California, regulation and reliability of the cars could stop them getting into consumers' hands any time soon. "I'm a little bit skeptical when a carmaker…says we are going to be able to sell cars, autonomously driven, before 2020, in 2018, when the regulation is not ready. And we know the technology is still in a prototype phase," Ghosn said.

2021-10-30 14:12:19.932770

The Fed says it is expanding its municipal bond buying program

https://www.cnbc.com/2020/04/27/the-fed-says-it-is-expanding-its-municipal-bond-buying-program.html

2020-04-27T20:37:31+0000

Jeff Cox

CNBC

The Federal Reserve is expanding its municipal bond buying program as part of its efforts to keep money flowing for cash-strapped local and state governments.As part of its Municipal Lending Facility, the Fed is buying up to $500 billion worth of state and local government bonds. In an announcement Monday, the central bank said the facility now will buy debt from counties and states with populations of at least 500,000 and cities with 250,000 residents or more.In addition, the Fed expanded the duration of the bonds it will buy from two years under the previous announcement to three years. The program is limited to investment-grade debt.The Fed also said it will consider in the future buying revenue bonds. Officials "will continue to closely monitor conditions" in local and state government debt markets" as it determines whether to accept the revenue bonds, the announcement added.

cnbc, Articles, Municipal bonds, Breaking news, Economy, Breaking News: Economy, US Economy, US: News, Municipal Bonds, Business News, The Fed, source:tagname:CNBC US Source

<div class="group"><p>The Federal Reserve is expanding its municipal bond buying program as part of its efforts to keep money flowing for cash-strapped local and state governments.</p><p>As part of its Municipal Lending Facility, the Fed is buying up to $500 billion worth of state and local government bonds. In an announcement Monday, the central bank said the facility now will buy debt from counties and states with populations of at least 500,000 and cities with 250,000 residents or more.</p><div style="height:100%" class="lazyload-placeholder"></div><p>In addition, the Fed expanded the duration of the bonds it will buy from two years under the previous announcement to three years. The program is limited to investment-grade debt.</p><p>The Fed also said it will consider in the future buying revenue bonds. Officials "will continue to closely monitor conditions" in local and state government debt markets" as it determines whether to accept the revenue bonds, the announcement added.</p></div>

The Federal Reserve is expanding its municipal bond buying program as part of its efforts to keep money flowing for cash-strapped local and state governments.As part of its Municipal Lending Facility, the Fed is buying up to $500 billion worth of state and local government bonds. In an announcement Monday, the central bank said the facility now will buy debt from counties and states with populations of at least 500,000 and cities with 250,000 residents or more.In addition, the Fed expanded the duration of the bonds it will buy from two years under the previous announcement to three years. The program is limited to investment-grade debt.The Fed also said it will consider in the future buying revenue bonds. Officials "will continue to closely monitor conditions" in local and state government debt markets" as it determines whether to accept the revenue bonds, the announcement added.

2021-10-30 14:12:20.393112

Steel Standing?

https://www.cnbc.com/2010/01/27/steel-standing.html

2010-01-28T01:55:44+0000

Gennine Kelly

CNBC

Tonight, Cramer talks with Dan DiMicco, the CEO of Nucor about the state of the steel industry. With the Chinese putting the brakes on their economy and the lack of domestic orders here in the US, "the steel business seems to be stuck between a rock and a hard place, even as steel prices rise around the world," Cramer said.

cnbc, Articles, Nucor Corp, CNBC TV, Mad Money, source:tagname:CNBC US Source

<div class="group"><p>Tonight, Cramer talks with Dan DiMicco, the CEO of Nucor about the state of the steel industry. With the Chinese putting the brakes on their economy and the lack of domestic orders here in the US, "the steel business seems to be stuck between a rock and a hard place, even as steel prices rise around the world," Cramer said.</p></div>,<div class="group"><p>NUE reported a better than expected fourth quarter yesterday, but compared to a year ago things look rather dreary. The company’s average sales price per ton is down 35% year over year, total tons shipped to outside customers down 9% year over year and steel mill capacity utilization was at a historically low 54%.<br><br></p><div style="height:100%" class="lazyload-placeholder"></div><p>Cramer has liked Nucor for its 3.4% dividend yield and last recommended it on December 23 at $46. The stock is down 8% since then, but investors have made a considerable amount of money over the long-term, returning 241% to shareholders over the past ten years or 297% if you reinvested the dividend. And within the same period, the S&amp;P 500 was down 24%. This is looking like a difficult time in the steel industry. DiMicco himself has said that the recovery will be long and slow, especially with the employment picture so bleak and the Obama administration not doing enough to create jobs here in America. Cramer said this is something that’s become even more important now that the Chinese are slowing down their overheated economy. </p><p>So, is there a future for the steel industry? And why are earnings anemic despite all of the price increases? And can Dan DiMicco, who met with the President multiple times on these issues, give any behind the scenes input? To answer those questions and more Cramer welcomed back the CEO of Nucor, Dan DiMicco. Watch the video for the full interview.</p><p><em>Call Cramer: 1-800-743-CNBC</em></p><p><em>Questions for Cramer? </em></p><p><em>Questions, comments, suggestions for the Mad Money website? </em><a href="mailto:madcap@cnbc.com" class="webresource" target="_blank">madcap@cnbc.com</a></p></div>

Tonight, Cramer talks with Dan DiMicco, the CEO of Nucor about the state of the steel industry. With the Chinese putting the brakes on their economy and the lack of domestic orders here in the US, "the steel business seems to be stuck between a rock and a hard place, even as steel prices rise around the world," Cramer said.NUE reported a better than expected fourth quarter yesterday, but compared to a year ago things look rather dreary. The company’s average sales price per ton is down 35% year over year, total tons shipped to outside customers down 9% year over year and steel mill capacity utilization was at a historically low 54%.Cramer has liked Nucor for its 3.4% dividend yield and last recommended it on December 23 at $46. The stock is down 8% since then, but investors have made a considerable amount of money over the long-term, returning 241% to shareholders over the past ten years or 297% if you reinvested the dividend. And within the same period, the S&P 500 was down 24%. This is looking like a difficult time in the steel industry. DiMicco himself has said that the recovery will be long and slow, especially with the employment picture so bleak and the Obama administration not doing enough to create jobs here in America. Cramer said this is something that’s become even more important now that the Chinese are slowing down their overheated economy. So, is there a future for the steel industry? And why are earnings anemic despite all of the price increases? And can Dan DiMicco, who met with the President multiple times on these issues, give any behind the scenes input? To answer those questions and more Cramer welcomed back the CEO of Nucor, Dan DiMicco. Watch the video for the full interview.Call Cramer: 1-800-743-CNBCQuestions for Cramer? Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

2021-10-30 14:12:20.452890

Gold 2% higher after disappointing jobs data

https://www.cnbc.com/2013/10/21/gold-clings-to-range-ahead-of-us-jobs-data-spdr-holdings-drop.html

2013-10-22T18:20:00+0000

CNBC

Gold settled at a three-week high on Tuesday after weak U.S. jobs figures raised expectations the Federal Reserve will keep its stimulus undiminished well into 2014.Nonfarm payrolls rose by 148,000 in September, the Labor Department said, below the 180,000 forecast in a Reuters poll, increasing worries that the world's largest economy was losing momentum even before the government shutdown this month. "We were not even close to the 180,000 number ... the main takeaway is that Fed tapering is still a long way away, probably not for this year and that's the reason why everything shot up—equities, commodities and gold in particular,'' Societe Generale analyst Robin Bhar said."The next 24 hours are crucial because on what we have just seen, gold should hold and even move higher if the dollar weakens.''Spot gold, lower initially, rallied 2 percent to its highest since Oct. 1 at $1,344 an ounce. It was last trading 1.9 percent higher at $1,340 an ounce.The metal has broken above technical resistance at its 100-day moving average of $1,325. for December delivery settled 2.2 percent higher at $1,342.60 an ounce. The dollar tumbled to a new eight-month low against a basket of currencies, while global stocks edged up on prospects of a longer spell of super-easy money from the Fed.

cnbc, Articles, SPDR Gold Trust, Commodity markets, Gold COMEX (Dec'21), Gold / US Dollar Spot, DXY US Dollar Currency Index, Futures & Commodities, Markets, Metal Commodities, source:tagname:Reuters

<div class="group"><p> Gold settled at a three-week high on <span style="background-color:rgb(255, 255, 255);font-size:14px">Tuesday after weak U.S. jobs figures raised expectations the </span><span style="background-color:rgb(255, 255, 255);font-size:14px">Federal Reserve will keep its stimulus undiminished well into </span><span style="background-color:rgb(255, 255, 255);font-size:14px">2014.</span></p><p>Nonfarm payrolls <a href="https://www.cnbc.com/2013/10/22/job-creation-weakens-but-unemployment-rate-down.html">rose by 148,000 in September</a>, the Labor <span style="background-color:rgb(255, 255, 255);font-size:14px">Department said, below the 180,000 forecast in a Reuters poll, </span><span style="background-color:rgb(255, 255, 255);font-size:14px">increasing worries that the world's largest economy was losing </span><span style="background-color:rgb(255, 255, 255);font-size:14px">momentum even before the government shutdown this month.</span></p><div style="height:100%" class="lazyload-placeholder"></div><p> "We were not even close to the 180,000 number ... the main <span style="background-color:rgb(255, 255, 255);font-size:14px">takeaway is that Fed tapering is still a long way away, probably </span><span style="background-color:rgb(255, 255, 255);font-size:14px">not for this year and that's the reason why everything shot up—</span><span style="background-color:rgb(255, 255, 255);font-size:14px">equities, commodities and gold in particular,'' Societe Generale </span><span style="background-color:rgb(255, 255, 255);font-size:14px">analyst Robin Bhar said.</span></p><p>"The next 24 hours are crucial because on what we have just <span style="background-color:rgb(255, 255, 255);font-size:14px">seen, gold should hold and even move higher if the dollar </span><span style="background-color:rgb(255, 255, 255);font-size:14px">weakens.''</span></p><p><a href="https://www.cnbc.com/quotes/XAU=">Spot gold</a>, lower initially, rallied 2 percent to <span style="background-color:rgb(255, 255, 255);font-size:14px">its highest since Oct. 1 at $1,344 an ounce. It was last trading 1.9 percent </span><span style="background-color:rgb(255, 255, 255);font-size:14px">higher at $1,340 an ounce.</span></p><p>The metal has broken above technical resistance at its <span style="background-color:rgb(255, 255, 255);font-size:14px">100-day moving average of $1,325.</span></p><p> for December delivery settled 2.2 percent higher at <span style="background-color:rgb(255, 255, 255);font-size:14px">$1,342.60 an ounce. </span></p><div style="height:100%" class="lazyload-placeholder"></div><p>The <a href="https://www.cnbc.com/quotes/.DXY">dollar</a> tumbled to a new eight-month low against a <span style="background-color:rgb(255, 255, 255);font-size:14px">basket of currencies, while global stocks edged up on prospects </span><span style="background-color:rgb(255, 255, 255);font-size:14px">of a longer spell of super-easy money from the Fed.</span></p><br></div>,<div class="group"><p>Analysts said investor sentiment was likely to remain <span style="background-color:rgb(255, 255, 255);font-size:14px">subdued, however, after a big drop in holdings in the largest </span><span style="background-color:rgb(255, 255, 255);font-size:14px">gold-backed exchange-traded fund (ETF), <a href="https://www.cnbc.com/quotes/GLDIV.P">SPDR Gold Trust</a>, </span><span style="background-color:rgb(255, 255, 255);font-size:14px">which saw outflows of 10.51 tons to 871.72 tons on Monday.</span></p><p>That was the biggest one-day fall in the fund's holdings <span style="background-color:rgb(255, 255, 255);font-size:14px">since early July.</span></p><p> For more information on commodities prices, please <a href="https://www.cnbc.com/futures-and-commodities/">click here</a>. </p></div>,<div class="group"><p><em> —By Reuters with CNBC.com.</em></p></div>

Gold settled at a three-week high on Tuesday after weak U.S. jobs figures raised expectations the Federal Reserve will keep its stimulus undiminished well into 2014.Nonfarm payrolls rose by 148,000 in September, the Labor Department said, below the 180,000 forecast in a Reuters poll, increasing worries that the world's largest economy was losing momentum even before the government shutdown this month. "We were not even close to the 180,000 number ... the main takeaway is that Fed tapering is still a long way away, probably not for this year and that's the reason why everything shot up—equities, commodities and gold in particular,'' Societe Generale analyst Robin Bhar said."The next 24 hours are crucial because on what we have just seen, gold should hold and even move higher if the dollar weakens.''Spot gold, lower initially, rallied 2 percent to its highest since Oct. 1 at $1,344 an ounce. It was last trading 1.9 percent higher at $1,340 an ounce.The metal has broken above technical resistance at its 100-day moving average of $1,325. for December delivery settled 2.2 percent higher at $1,342.60 an ounce. The dollar tumbled to a new eight-month low against a basket of currencies, while global stocks edged up on prospects of a longer spell of super-easy money from the Fed.Analysts said investor sentiment was likely to remain subdued, however, after a big drop in holdings in the largest gold-backed exchange-traded fund (ETF), SPDR Gold Trust, which saw outflows of 10.51 tons to 871.72 tons on Monday.That was the biggest one-day fall in the fund's holdings since early July. For more information on commodities prices, please click here. —By Reuters with CNBC.com.

2021-10-30 14:12:20.491932

US Midwest activity took a breather in December: ISM

https://www.cnbc.com/2013/12/31/us-midwest-activity-took-a-breather-in-december-ism.html

2013-12-31T15:24:27+0000

CNBC

The pace of growth in business activity in the U.S. Midwest slowed for a second month in December, signaling a cooling in the improvement of the region's manufacturing, a report showed on Tuesday. The Institute for Supply Management-Chicago business barometer declined to 59.1 from 63.0 in November, falling short of economists' median forecast of 61.0. A year ago, the index was a tad below 50, which is the threshold that indicates expansion in the regional economy.The gauge of new orders fell to 60.7 from 68.8 in November, as its production gauge fell to 57.9 from 64.3. The employment component retreated to 51.6, its lowest since April. In November, it hit 60.9 which was its highest since October 2011.The report's prices paid reading slipped to 63.3 from 63.7 last month.--By Reuters

cnbc, Articles, Bitcoin, Business, Economy, US Economy, Business News, US: News, Manufacturing, Industrials, source:tagname:Reuters

<div class="group"><p> The pace of growth in business activity in the U.S. Midwest slowed for a second month in December, signaling a cooling in the improvement of the region's manufacturing, a report showed on Tuesday.</p><p> The Institute for Supply Management-Chicago business <span style="background-color:rgb(255, 255, 255)">barometer declined to 59.1 from 63.0 in November, falling short </span><span style="background-color:rgb(255, 255, 255)">of economists' median forecast of 61.0. </span><span style="background-color:rgb(255, 255, 255)">A year ago, the index was a tad below 50, which is the </span><span style="background-color:rgb(255, 255, 255)">threshold that indicates expansion in the regional economy.</span></p><div style="height:100%" class="lazyload-placeholder"></div><p>The gauge of new orders fell to 60.7 from 68.8 in November, <span style="background-color:rgb(255, 255, 255)">as its production gauge fell to 57.9 from 64.3. </span><span style="background-color:rgb(255, 255, 255)">The employment component retreated to 51.6, its lowest since </span><span style="background-color:rgb(255, 255, 255)">April. In November, it hit 60.9 which was its highest since </span><span style="background-color:rgb(255, 255, 255)">October 2011.</span></p><p>The report's prices paid reading slipped to 63.3 from 63.7 <span style="background-color:rgb(255, 255, 255)">last month.</span></p><p><span style="background-color:rgb(255, 255, 255)"><em>--By Reuters</em></span></p></div>

The pace of growth in business activity in the U.S. Midwest slowed for a second month in December, signaling a cooling in the improvement of the region's manufacturing, a report showed on Tuesday. The Institute for Supply Management-Chicago business barometer declined to 59.1 from 63.0 in November, falling short of economists' median forecast of 61.0. A year ago, the index was a tad below 50, which is the threshold that indicates expansion in the regional economy.The gauge of new orders fell to 60.7 from 68.8 in November, as its production gauge fell to 57.9 from 64.3. The employment component retreated to 51.6, its lowest since April. In November, it hit 60.9 which was its highest since October 2011.The report's prices paid reading slipped to 63.3 from 63.7 last month.--By Reuters

2021-10-30 14:12:20.583270

Home Loan Demand at One-Year High

https://www.cnbc.com/2007/11/14/home-loan-demand-at-oneyear-high.html

2007-11-14T12:23:16+0000

CNBC

U.S. mortgage applications rose last week, with demand hitting its highest level in nearly a year as interest rates hovered near recent lows, an industry group said Wednesday.The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended Nov. 9 increased 5.5 percent to 707.3, its highest since the week ended Dec. 8, 2006, when it touched 721.2.Economists say that this data has been skewed in recent months, however, as prospective borrowers have been filing multiple applications to obtain a single loan due to widespread tightening of lending standards.The MBA's data also counts all applications, including borrowers who are ultimately denied.Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.19 percent, up 0.03 percentage point from the previous week. Two weeks prior, interest rates reached 6.15 percent, the lowest since the week ended May 11, when they stood at 6.13 percent.Interest rates were above the year-ago level of 6.15 percent.Fixed 15-year mortgage rates averaged 5.77 percent, unchanged from the previous week. Rates on one-year adjustable-rate mortgages (ARMs) increased to 5.98 percent from 5.94 percent.Overall mortgage applications last week were 9.2 percent above their year-ago level. The four-week moving average of mortgage applications, which smoothes the volatile weekly figures, rose 1.9 percent to 679.0.Demand for both home purchase and refinancing loans rose last week.The MBA's seasonally adjusted purchase index, widely considered a timely gauge of U.S. home sales, rose 4.8 percent to 432.6. The index came in above its year-earlier level of 412.9, a rise of 4.8 percent.The group's seasonally adjusted index of refinancing applications increased 6.4 percent to 2,315.7. The index was up 14.5 percent from a year ago when the index stood at 2,022.2.The refinance share of applications increased to 50.2 percent from 49.1 percent the previous week. Recent U.S. housing industry indexes, while volatile, generally point to a weak outlook for the industry, suggesting a delayed recovery for the hard-hit sector.The National Association of Realtors said on Tuesday pending home sales rose 0.2 percent in September but were still more than 20 percent lower than they were a year ago. Wall Street economists had expected pending sales to fall 2.8 percent.The ARM share of activity increased to 15.5 percent, up from 14.2 percent the previous week.The MBA's survey covers about 50 percent of all U.S. retail residential loans. Respondents include mortgage banks, commercial banks and thrifts.

cnbc, Articles, Business News, Real Estate, source:tagname:Reuters

<div class="group"><p>U.S. mortgage applications rose last week, with demand hitting its highest level in nearly a year as interest rates hovered near recent lows, an industry group said Wednesday.</p><p>The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended Nov. 9 increased 5.5 percent to 707.3, its highest since the week ended Dec. 8, 2006, when it touched 721.2.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Economists say that this data has been skewed in recent months, however, as prospective borrowers have been filing multiple applications to obtain a single loan due to widespread tightening of lending standards.</p><p>The MBA's data also counts all applications, including borrowers who are ultimately denied.</p><p>Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.19 percent, up 0.03 percentage point from the previous week. Two weeks prior, interest rates reached 6.15 percent, the lowest since the week ended May 11, when they stood at 6.13 percent.</p><p>Interest rates were above the year-ago level of 6.15 percent.</p><p>Fixed 15-year mortgage rates averaged 5.77 percent, unchanged from the previous week. Rates on one-year adjustable-rate mortgages (ARMs) increased to 5.98 percent from 5.94 percent.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Overall mortgage applications last week were 9.2 percent above their year-ago level. The four-week moving average of mortgage applications, which smoothes the volatile weekly figures, rose 1.9 percent to 679.0.</p><p>Demand for both home purchase and refinancing loans rose last week.</p><p>The MBA's seasonally adjusted purchase index, widely considered a timely gauge of U.S. home sales, rose 4.8 percent to 432.6. The index came in above its year-earlier level of 412.9, a rise of 4.8 percent.</p><p>The group's seasonally adjusted index of refinancing applications increased 6.4 percent to 2,315.7. The index was up 14.5 percent from a year ago when the index stood at 2,022.2.</p><p>The refinance share of applications increased to 50.2 percent from 49.1 percent the previous week. </p><p>Recent U.S. housing industry indexes, while volatile, generally point to a weak outlook for the industry, suggesting a delayed recovery for the hard-hit sector.</p><p>The National Association of Realtors said on Tuesday pending home sales rose 0.2 percent in September but were still more than 20 percent lower than they were a year ago. Wall Street economists had expected pending sales to fall 2.8 percent.</p><p>The ARM share of activity increased to 15.5 percent, up from 14.2 percent the previous week.</p><p>The MBA's survey covers about 50 percent of all U.S. retail residential loans. Respondents include mortgage banks, commercial banks and thrifts.</p></div>

U.S. mortgage applications rose last week, with demand hitting its highest level in nearly a year as interest rates hovered near recent lows, an industry group said Wednesday.The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended Nov. 9 increased 5.5 percent to 707.3, its highest since the week ended Dec. 8, 2006, when it touched 721.2.Economists say that this data has been skewed in recent months, however, as prospective borrowers have been filing multiple applications to obtain a single loan due to widespread tightening of lending standards.The MBA's data also counts all applications, including borrowers who are ultimately denied.Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.19 percent, up 0.03 percentage point from the previous week. Two weeks prior, interest rates reached 6.15 percent, the lowest since the week ended May 11, when they stood at 6.13 percent.Interest rates were above the year-ago level of 6.15 percent.Fixed 15-year mortgage rates averaged 5.77 percent, unchanged from the previous week. Rates on one-year adjustable-rate mortgages (ARMs) increased to 5.98 percent from 5.94 percent.Overall mortgage applications last week were 9.2 percent above their year-ago level. The four-week moving average of mortgage applications, which smoothes the volatile weekly figures, rose 1.9 percent to 679.0.Demand for both home purchase and refinancing loans rose last week.The MBA's seasonally adjusted purchase index, widely considered a timely gauge of U.S. home sales, rose 4.8 percent to 432.6. The index came in above its year-earlier level of 412.9, a rise of 4.8 percent.The group's seasonally adjusted index of refinancing applications increased 6.4 percent to 2,315.7. The index was up 14.5 percent from a year ago when the index stood at 2,022.2.The refinance share of applications increased to 50.2 percent from 49.1 percent the previous week. Recent U.S. housing industry indexes, while volatile, generally point to a weak outlook for the industry, suggesting a delayed recovery for the hard-hit sector.The National Association of Realtors said on Tuesday pending home sales rose 0.2 percent in September but were still more than 20 percent lower than they were a year ago. Wall Street economists had expected pending sales to fall 2.8 percent.The ARM share of activity increased to 15.5 percent, up from 14.2 percent the previous week.The MBA's survey covers about 50 percent of all U.S. retail residential loans. Respondents include mortgage banks, commercial banks and thrifts.

2021-10-30 14:12:20.622675

Donald Trump advisors consider Jamie Dimon for treasury secretary: Sources

https://www.cnbc.com/2016/11/10/donald-trump-advisors-considered-jpmorgans-jamie-dimon-for-treasury-secretary-sources.html

2016-11-10T16:44:02+0000

Kate Kelly

CNBC

In the wake of Donald Trump's upset victory, advisors have floated the idea of naming Jamie Dimon as treasury secretary, according to two people familiar with the matter, but one of them added that the JPMorgan chief has said he would not be interested in the role. A Trump spokesperson could not immediately be reached for comment, and a spokesman for Dimon declined to elaborate beyond his past remarks that he would not be interested. It was unclear who within Trump's circle of advisors raised the idea or who else might be under consideration for treasury secretary. Trump campaign finance chief Steven Mnuchin, a former Goldman Sachs official, is reportedly considered to be the front runner. Dimon has suggested repeatedly, including in an interview at the Economic Club of Washington in September, that he would not be interested in becoming treasury secretary.

cnbc, Articles, White House, JPMorgan Chase & Co, Politics, Jamie Dimon, Donald Trump, US: News, Republicans, source:tagname:CNBC US Source

<div class="group"><p> In the wake of <a href="https://www.cnbc.com/donald-trump/">Donald Trump's</a> upset victory, advisors have floated the idea of naming <a href="https://www.cnbc.com/jamie-dimon/">Jamie Dimon</a> as treasury secretary, according to two people familiar with the matter, but one of them added that the <a href="//www.cnbc.com/quotes/JPM" target="_blank">JPMorgan</a> chief has said he would not be interested in the role.</p><p> A Trump spokesperson could not immediately be reached for comment, and a spokesman for Dimon declined to elaborate beyond his past remarks that he would not be interested.</p><div style="height:100%" class="lazyload-placeholder"></div><p> It was unclear who within Trump's circle of advisors raised the idea or who else might be under consideration for treasury secretary. Trump campaign finance chief Steven Mnuchin, a former Goldman Sachs official, is reportedly considered to be the front runner.</p><p> Dimon has suggested repeatedly, including in an interview at the Economic Club of Washington in September, that he would not be interested in becoming treasury secretary.</p><br></div>

In the wake of Donald Trump's upset victory, advisors have floated the idea of naming Jamie Dimon as treasury secretary, according to two people familiar with the matter, but one of them added that the JPMorgan chief has said he would not be interested in the role. A Trump spokesperson could not immediately be reached for comment, and a spokesman for Dimon declined to elaborate beyond his past remarks that he would not be interested. It was unclear who within Trump's circle of advisors raised the idea or who else might be under consideration for treasury secretary. Trump campaign finance chief Steven Mnuchin, a former Goldman Sachs official, is reportedly considered to be the front runner. Dimon has suggested repeatedly, including in an interview at the Economic Club of Washington in September, that he would not be interested in becoming treasury secretary.

2021-10-30 14:12:20.655821

Foreclosure Investors are Double-Edged Sword

https://www.cnbc.com/2012/01/23/foreclosure-investors-are-doubleedged-sword.html

2012-01-23T19:28:30+0000

Diana Olick

CNBC

The best and most expeditious way to clear the vast inventory of foreclosed properties weighing down today’s housing market is to get more investors in and sell them these properties at bulk discounts. That’s what the Obama administration and Federal regulators are currently considering for the thousands of homes currently owned by Fannie Mae, Freddie Mac and the FHA. While big private equity fundsare still largely in a very tedious deal-making stage with banks or waiting on the sidelines for a government program, smaller individual investors are getting in. Nearly 23 percent of home purchases in December were by investors, according to a new survey from Campbell/Inside Mortgage Finance. That is a slight increase from November, but the share has remained largely unchanged for the past year.

cnbc, Articles, Business News, Real Estate, Realty Check with Diana Olick, source:tagname:CNBC US Source

<div class="group"><p>The best and most expeditious way to clear the vast inventory of foreclosed properties weighing down today’s housing market is to get more investors in and sell them these properties at bulk discounts. </p><p>That’s what the Obama administration and Federal regulators are <a href="https://www.cnbc.com/2012/01/09/government-set-to-sell-foreclosures-in-bulk.html">currently considering</a> for the thousands of homes currently owned by Fannie Mae, Freddie Mac and the FHA. </p><div style="height:100%" class="lazyload-placeholder"></div><p>While <a href="https://www.cnbc.com/2012/01/10/private-equity-readying-a-run-on-foreclosures.html">big private equity funds</a>are still largely in a very tedious deal-making stage with banks or waiting on the sidelines for a government program, smaller individual investors are getting in. Nearly 23 percent of home purchases in December were by investors, according to a new survey from Campbell/Inside Mortgage Finance. That is a slight increase from November, but the share has remained largely unchanged for the past year. </p></div>,<div class="group"><p>What has changed dramatically is how many of these investors are using all-cash…74 percent according to the survey, which also found that, “cash buyers are able to bid significantly lower—and successfully—on many properties because they offer a shorter and more reliable closing timeline.” That is precisely what mortgage servicers want. </p></div>,<div class="group"><p>“While investor bids may not be the first offers accepted, they often end up winning properties after other homebuyers are eliminated because of mortgage approval or timeline problems,” according to the survey authors. “Appraisals below the contracted price are a common reason for mortgage denials. Most mortgage financing timelines are now in excess of 30 days.” </p><p>There has been a lot of concern among industry analysts that bulk foreclosure sales would push home prices down further, but it appears that is already happening, as investors usually offer 10-20 percent below list price, while first time home buyers and current homeowners are generally offering list. If the offers are competitive, cash will prevail. </p><p><em>Questions?  Comments?  </em><a href="mailto:RealtyCheck@cnbc.com" class="webresource" target="_blank">RealtyCheck@cnbc.com</a><em>And follow me on </em></p></div>

The best and most expeditious way to clear the vast inventory of foreclosed properties weighing down today’s housing market is to get more investors in and sell them these properties at bulk discounts. That’s what the Obama administration and Federal regulators are currently considering for the thousands of homes currently owned by Fannie Mae, Freddie Mac and the FHA. While big private equity fundsare still largely in a very tedious deal-making stage with banks or waiting on the sidelines for a government program, smaller individual investors are getting in. Nearly 23 percent of home purchases in December were by investors, according to a new survey from Campbell/Inside Mortgage Finance. That is a slight increase from November, but the share has remained largely unchanged for the past year. What has changed dramatically is how many of these investors are using all-cash…74 percent according to the survey, which also found that, “cash buyers are able to bid significantly lower—and successfully—on many properties because they offer a shorter and more reliable closing timeline.” That is precisely what mortgage servicers want. “While investor bids may not be the first offers accepted, they often end up winning properties after other homebuyers are eliminated because of mortgage approval or timeline problems,” according to the survey authors. “Appraisals below the contracted price are a common reason for mortgage denials. Most mortgage financing timelines are now in excess of 30 days.” There has been a lot of concern among industry analysts that bulk foreclosure sales would push home prices down further, but it appears that is already happening, as investors usually offer 10-20 percent below list price, while first time home buyers and current homeowners are generally offering list. If the offers are competitive, cash will prevail. Questions?  Comments?  RealtyCheck@cnbc.comAnd follow me on

2021-10-30 14:12:20.726197

Early Movers: WMT, KSS, PG, DWA, HAS & more

https://www.cnbc.com/2014/11/13/early-movers-wmt-kss-pg-dwa-has-more.html

2014-11-13T13:05:19+0000

Peter Schacknow

CNBC

Check out which companies are making headlines before the bell: Wal-Mart—The retail giant earned $1.15 per share for its latest quarter, 3 cents above estimates, with revenue and comparable store sales also above estimates. Wal-Mart's results were helped in part by a strong back-to-school season. Kohl's—The retailer missed estimates by 4 cents with quarterly profit of 70 cents per share, with revenue also below forecasts and same-store sales falling more than expected. Procter & Gamble—Berkshire Hathaway is buying P&G's Duracell battery business. Procter will receive $4.7 billion in P&G shares currently held by Berkshire, while a recapitalized Duracell will have $1.7 billion in cash when transferred to Berkshire. Viacom—The media company reported an adjusted fiscal fourth quarter profit of $1.71 per share, excluding certain items, helped by increased revenue from filmed entertainment and its media networks. Tyco—The maker of fire protection and security products matched estimates with adjusted quarterly profit of 56 cents per share, with revenue slightly below forecasts. Cisco Systems—The company reported adjusted earnings of 54 cents per share beating estimates by 2 cents. Revenue was also above forecasts, as sales for some of its prominent networking products improved. However, Cisco gave a revenue forecast for the current quarter that falls below Street estimates. Cisco also announced that chief financial officer Frank Calderoni is stepping down at year's end, to be replaced by senior vice president Kelly Kramer. DreamWorks—The movie studio is in talks to be bought by toymaker Hasbro, according to sources. CNBC's Andrew Ross Sorkin reports the talks are in an advanced stage. JC Penney—The retailer reported a smaller than expected loss for its latest quarter, but its revenue was below estimates and comparable store sales were flat compared to the year before. Analysts had been expecting a jump in same-store sales, but warmer than usual weather cut into sales of fall and winter clothing. NetApp—The cloud-related products maker beat estimates by 1 cent for its latest quarter with adjusted profit of 70 cents per share, with revenue very slightly below estimates. But NetApp gave a light forecast for the current quarter, as its sales to original equipment makers slide. Rocket Fuel—The company posted an adjusted quarterly loss of 18 cents per share, smaller than the 30 cent loss predicted by analysts. The provider of advertising technology also had better than expected revenue and upbeat guidance for the current quarter, seeing strong sales growth. Microsoft—The computer software and services company will buy Israeli cybersecurity start-up Aorato for about $200 million, according to Dow Jones. Sony—The company unveiled PlayStation Vue, a new cloud-based television service. The service is expected to be launched during 2015's first quarter.

cnbc, Articles, Market Insider, Markets, Wall Street, Earnings, Walmart Inc, Kohl's Corp, Procter & Gamble Co, Berkshire Hathaway Inc, Viacom Inc, Johnson Controls International PLC, Cisco Systems Inc, DreamWorks Animation SKG Inc, Hasbro Inc, Old Copper Company Inc, NetApp Inc, Rocket Fuel Inc, Microsoft Corp, Sony Group Corp, U.S. Markets, Finance, source:tagname:CNBC US Source

<div class="group"><p> <em>Check out which companies are making headlines before the bell</em>: </p><p> <a href="//www.cnbc.com/quotes/WMT" target="_blank">Wal-Mart</a>—The retail giant earned $1.15 per share for its latest quarter, 3 cents above estimates, with revenue and comparable store sales also above estimates. Wal-Mart's results were helped in part by a strong back-to-school season.</p><div style="height:100%" class="lazyload-placeholder"></div><p> <a href="//www.cnbc.com/quotes/KSS" target="_blank">Kohl's</a>—The retailer missed estimates by 4 cents with quarterly profit of 70 cents per share, with revenue also below forecasts and same-store sales falling more than expected.</p><p> <a href="//www.cnbc.com/quotes/PG" target="_blank">Procter &amp; Gamble</a>—<a href="//www.cnbc.com/quotes/BRK.A" target="_blank">Berkshire Hathaway</a> is buying P&amp;G's Duracell battery business. Procter will receive $4.7 billion in P&amp;G shares currently held by Berkshire, while a recapitalized Duracell will have $1.7 billion in cash when transferred to Berkshire.</p><p> <a href="//www.cnbc.com/quotes/VCX-DE" target="_blank">Viacom</a>—The media company reported an adjusted fiscal fourth quarter profit of $1.71 per share, excluding certain items, helped by increased revenue from filmed entertainment and its media networks.</p><p> <a href="//www.cnbc.com/quotes/JCI" target="_blank">Tyco</a>—The maker of fire protection and security products matched estimates with adjusted quarterly profit of 56 cents per share, with revenue slightly below forecasts.</p><p> <a href="//www.cnbc.com/quotes/CSCO" target="_blank">Cisco Systems</a>—The company reported adjusted earnings of 54 cents per share beating estimates by 2 cents. Revenue was also above forecasts, as sales for some of its prominent networking products improved. However, Cisco gave a revenue forecast for the current quarter that falls below Street estimates. Cisco also announced that chief financial officer Frank Calderoni is stepping down at year's end, to be replaced by senior vice president Kelly Kramer.</p><div style="height:100%" class="lazyload-placeholder"></div><p> <a href="//www.cnbc.com/quotes/.AD.IXIC" target="_blank">DreamWorks</a>—The movie studio is in talks to be bought by toymaker <a href="//www.cnbc.com/quotes/HAS" target="_blank">Hasbro</a>, according to sources. CNBC's Andrew Ross Sorkin reports the talks are in an advanced stage.</p><p> <a href="//www.cnbc.com/quotes/CPPRQ" target="_blank">JC Penney</a>—The retailer reported a smaller than expected loss for its latest quarter, but its revenue was below estimates and comparable store sales were flat compared to the year before. Analysts had been expecting a jump in same-store sales, but warmer than usual weather cut into sales of fall and winter clothing.</p><p> <a href="//www.cnbc.com/quotes/NTAP" target="_blank">NetApp</a>—The cloud-related products maker beat estimates by 1 cent for its latest quarter with adjusted profit of 70 cents per share, with revenue very slightly below estimates. But NetApp gave a light forecast for the current quarter, as its sales to original equipment makers slide.</p><p> <a href="//www.cnbc.com/quotes/.AD.IXIC" target="_blank">Rocket Fuel</a>—The company posted an adjusted quarterly loss of 18 cents per share, smaller than the 30 cent loss predicted by analysts. The provider of advertising technology also had better than expected revenue and upbeat guidance for the current quarter, seeing strong sales growth.</p><p> <a href="//www.cnbc.com/quotes/MSFT" target="_blank">Microsoft</a>—The computer software and services company will buy Israeli cybersecurity start-up Aorato for about $200 million, according to Dow Jones.</p><p> <a href="//www.cnbc.com/quotes/6758.T-JP" target="_blank">Sony</a>—The company unveiled PlayStation Vue, a new cloud-based television service. The service is expected to be launched during 2015's first quarter.</p><br></div>

Check out which companies are making headlines before the bell: Wal-Mart—The retail giant earned $1.15 per share for its latest quarter, 3 cents above estimates, with revenue and comparable store sales also above estimates. Wal-Mart's results were helped in part by a strong back-to-school season. Kohl's—The retailer missed estimates by 4 cents with quarterly profit of 70 cents per share, with revenue also below forecasts and same-store sales falling more than expected. Procter & Gamble—Berkshire Hathaway is buying P&G's Duracell battery business. Procter will receive $4.7 billion in P&G shares currently held by Berkshire, while a recapitalized Duracell will have $1.7 billion in cash when transferred to Berkshire. Viacom—The media company reported an adjusted fiscal fourth quarter profit of $1.71 per share, excluding certain items, helped by increased revenue from filmed entertainment and its media networks. Tyco—The maker of fire protection and security products matched estimates with adjusted quarterly profit of 56 cents per share, with revenue slightly below forecasts. Cisco Systems—The company reported adjusted earnings of 54 cents per share beating estimates by 2 cents. Revenue was also above forecasts, as sales for some of its prominent networking products improved. However, Cisco gave a revenue forecast for the current quarter that falls below Street estimates. Cisco also announced that chief financial officer Frank Calderoni is stepping down at year's end, to be replaced by senior vice president Kelly Kramer. DreamWorks—The movie studio is in talks to be bought by toymaker Hasbro, according to sources. CNBC's Andrew Ross Sorkin reports the talks are in an advanced stage. JC Penney—The retailer reported a smaller than expected loss for its latest quarter, but its revenue was below estimates and comparable store sales were flat compared to the year before. Analysts had been expecting a jump in same-store sales, but warmer than usual weather cut into sales of fall and winter clothing. NetApp—The cloud-related products maker beat estimates by 1 cent for its latest quarter with adjusted profit of 70 cents per share, with revenue very slightly below estimates. But NetApp gave a light forecast for the current quarter, as its sales to original equipment makers slide. Rocket Fuel—The company posted an adjusted quarterly loss of 18 cents per share, smaller than the 30 cent loss predicted by analysts. The provider of advertising technology also had better than expected revenue and upbeat guidance for the current quarter, seeing strong sales growth. Microsoft—The computer software and services company will buy Israeli cybersecurity start-up Aorato for about $200 million, according to Dow Jones. Sony—The company unveiled PlayStation Vue, a new cloud-based television service. The service is expected to be launched during 2015's first quarter.

2021-10-30 14:12:21.243039

Daymond John - Display of Power

https://www.cnbc.com/2008/08/06/daymond-john-display-of-power.html

2008-08-06T21:11:08+0000

CNBC

Knowledge is power.Leverage is power.Insight is power.

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<div class="group"><p><strong>Knowledge is power.<br><br>Leverage is power.<br><br>Insight is power.<br><br></strong></p></div>,<div class="group"><p>In the end, it all comes down to power, only here I’m not just talking about the power to buy and sell, or to hire and fire, or to beat on someone who does you dirt.  After all, one some level, you start to think power is a kind of given.  We expect it.  We search for it in ourselves, and brace for it from our colleagues and competitors.<br><br>But if power itself is a given, where do we find our edge?  These days, my take is that it’s the display of power, above all.  The appearance of power – and knowing what to do with it.  It took that first trip to Vegas for this notion to register.  Specifically, it took pulling up at a stop light in a cab driven by a guy who knew a thing or two about power.  Those Vegas cabbies, man…they’ve seen everything.  I was heading over to the convention centre from my hotel.  We pulled up alongside two antique Chevy sports coupes.  Different colors, but the same model.  One of the cars was being driven by a little old lady, just as polite as could be.  The light turned green and you could see her ease gently back on the gas, but she was blocking traffic.  And this other car was being driven by this young guy, looked to be about the same age as me, mid-twenties, and he was just cutting it up.  Fishing-tailing, burning out, basically drag racing to each stoplight.<br><br>We caught up to the same two cars at the next light, and my philosophical cabbie turned back and said, “Look at that.  Same two cars, but this one here, he’s gonna get a display of power ticket?”  He pointed to the car being driven by the young guy.  <br><br>            I said, “What?”<br><br>And the cabbie explained that this little old lady didn’t have the slightest idea of the power she was sitting on, but this young kid was all full of adrenalin and ready to go.  Same car, same engine, and this one’s just a beast.<br><br>I’d never heard the phrase before – display of power – and that’s when it hit me: two different people, all outward appearances they might look the same, but inside they just have no idea what they’re capable of.  Inside, they’ve got the same ability to turn it on and fire it up, but it’s how we turn it on and fire it up that makes all the difference.<br><br>I’ve thought back to this exchange about a million times since that first Vegas trip, for the way it crystallizes the ways we set ourselves apart.  We’ve all got the same package, more or less.  We’re all operating with the same machinery under the hood, the same engines.  But it’s what we do with those engines that determine whether we succeed or fail.  It’s how we strut that gives us our edge.<br><br><br><a href="http://www.amazon.com/Display-Power-Changed-Branding-Lifestyle/dp/1595558535" target="_blank">To get a copy of the book, click here!</a><br>____________________________<br><em>Reprinted with permission from "Display of Power: How FUBU changed a world of fashion, branding and lifestyle". Published by NAKED INK. Copyright 2007, Daymond John.</em><br><br><br></p></div>

Knowledge is power.Leverage is power.Insight is power.In the end, it all comes down to power, only here I’m not just talking about the power to buy and sell, or to hire and fire, or to beat on someone who does you dirt.  After all, one some level, you start to think power is a kind of given.  We expect it.  We search for it in ourselves, and brace for it from our colleagues and competitors.But if power itself is a given, where do we find our edge?  These days, my take is that it’s the display of power, above all.  The appearance of power – and knowing what to do with it.  It took that first trip to Vegas for this notion to register.  Specifically, it took pulling up at a stop light in a cab driven by a guy who knew a thing or two about power.  Those Vegas cabbies, man…they’ve seen everything.  I was heading over to the convention centre from my hotel.  We pulled up alongside two antique Chevy sports coupes.  Different colors, but the same model.  One of the cars was being driven by a little old lady, just as polite as could be.  The light turned green and you could see her ease gently back on the gas, but she was blocking traffic.  And this other car was being driven by this young guy, looked to be about the same age as me, mid-twenties, and he was just cutting it up.  Fishing-tailing, burning out, basically drag racing to each stoplight.We caught up to the same two cars at the next light, and my philosophical cabbie turned back and said, “Look at that.  Same two cars, but this one here, he’s gonna get a display of power ticket?”  He pointed to the car being driven by the young guy.              I said, “What?”And the cabbie explained that this little old lady didn’t have the slightest idea of the power she was sitting on, but this young kid was all full of adrenalin and ready to go.  Same car, same engine, and this one’s just a beast.I’d never heard the phrase before – display of power – and that’s when it hit me: two different people, all outward appearances they might look the same, but inside they just have no idea what they’re capable of.  Inside, they’ve got the same ability to turn it on and fire it up, but it’s how we turn it on and fire it up that makes all the difference.I’ve thought back to this exchange about a million times since that first Vegas trip, for the way it crystallizes the ways we set ourselves apart.  We’ve all got the same package, more or less.  We’re all operating with the same machinery under the hood, the same engines.  But it’s what we do with those engines that determine whether we succeed or fail.  It’s how we strut that gives us our edge.To get a copy of the book, click here!____________________________Reprinted with permission from "Display of Power: How FUBU changed a world of fashion, branding and lifestyle". Published by NAKED INK. Copyright 2007, Daymond John.

2021-10-30 14:12:21.287545

Global Markets Up, but Where Is the Retail Investor?

https://www.cnbc.com/2012/03/16/global-markets-up-but-where-is-the-retail-investor.html

2012-03-16T13:16:28+0000

Bob Pisani

CNBC

Tamer inflation (somewhat): The dollar dropped, stock futures rose a point or so, as February Consumer Price Index came in at 0.4 percent, in line with expectations, with core at 0.1 percent, slightly below expectations.Yields on the 10-year Treasury moved up to 2.33 percent. This has been a big week for bonds: The 10-year closed last Friday at 2.029 percent, it's up 15 percent in five days.

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<div class="group"><p>Tamer inflation (somewhat): The dollar dropped, <a href="https://www.cnbc.com/2012/03/16/futures-hold-gains-after-economic-news.html">stock futures rose</a> a point or so, as February Consumer Price Index came in at 0.4 percent, in line with expectations, with core at 0.1 percent, slightly below expectations.</p><p>Yields on the 10-year Treasury moved up to 2.33 percent. This has been a big week for bonds: The 10-year closed last Friday at 2.029 percent, it's up 15 percent in five days. </p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>Stocks rally: The U.S. isn't the only stock market at new highs. The major stock indicies in Germany, France, the U.K., and Japan are at their best levels since July. </p><p><strong><u>Elsewhere:</u></strong></p><p>1) Where's the retail investor? Indices at new highs, but only modest retail interest. </p><p>It's a cliché by now: Retail investors have been taking money out of stocks since, oh, 2008. Almost every week last year, there were net outflows. </p><p>Now the major indices are back at multiyear highs. What's the story with retail investors? </p><div style="height:100%" class="lazyload-placeholder"></div><p>If you look at the Lipper (AMG) equity fund flow numbers so far this year, it looks fairly positive: The four-week average for weekly equity flows shows inflows of anywhere from $600 million to $4.5 billion...healthy! </p><p>But look below the hood: If you remove <strong>exchange-traded funds (ETFs) </strong>, there are still inflows, but they are much more modest....anywhere from $200 million to $800 million. </p><p>Why look at equity flows ex-ETFs? Because ETFs are still largely used by professionals...not exclusively, of course, but largely. </p><p>Bottom line: Retail investors are still only slowly warming to stocks. But it's a start. </p><p>2) Global markets this week: Moving up! </p><p><strong>Asia </strong></p><p><em>Japanese stocks rose for a sixth straight week as technology firms boosted the Nikkei 225 index to its highest level since July. </em></p><p>Japan +2.0% </p><p>Australia +1.5% </p><p>Hong Kong +1.1% </p><p>Korea +0.8% </p><p>China -1.4% </p><p><strong>Europe </strong></p><p><em>Great Britain, Germany, and France all rally to eight-month highs on the back on strong performance from financials. </em></p><p>Germany +4.4% </p><p>France +3.0% </p><p>Italy +3.0% </p><p>Spain +1.7% </p><p>UK +1.4% </p><p>Greece +0.1% </p><p><strong>U.S. </strong></p><p><em>The S&amp;P 500 index and Nasdaq Composite Index look to clinch a fifth-consecutive week of gains, with the S&amp;P 500 on track to post its biggest weekly advance this year. </em></p><p>Dow Jones Industrial Average +2.6% </p><p>S&amp;P 500 index +2.3% </p><p>Nasdaq Composite Index +2.3% </p><p>Russell 2000 Index +1.8% </p><p>_____________________________<br><strong><em>Bookmark CNBC Data Pages:</em></strong><br></p><ul><li><a href="https://www.cnbc.com/dow-30/">The Dow 30 — in Real Time</a></li><li><a href="https://www.cnbc.com/futures-and-commodities/">Oil, Gold, Natural Gas Prices Now</a></li><li><a href="https://www.cnbc.com/us-dollar/">US Dollar, Minute by Minute</a></li></ul><p>_____________________________</p><p><em>Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani. </em></p><p><em>Questions?  Comments?  <a href="mailto:tradertalk@cnbc.com" class="webresource" target="_blank">tradertalk@cnbc.com</a></em></p></div>

Tamer inflation (somewhat): The dollar dropped, stock futures rose a point or so, as February Consumer Price Index came in at 0.4 percent, in line with expectations, with core at 0.1 percent, slightly below expectations.Yields on the 10-year Treasury moved up to 2.33 percent. This has been a big week for bonds: The 10-year closed last Friday at 2.029 percent, it's up 15 percent in five days. Stocks rally: The U.S. isn't the only stock market at new highs. The major stock indicies in Germany, France, the U.K., and Japan are at their best levels since July. Elsewhere:1) Where's the retail investor? Indices at new highs, but only modest retail interest. It's a cliché by now: Retail investors have been taking money out of stocks since, oh, 2008. Almost every week last year, there were net outflows. Now the major indices are back at multiyear highs. What's the story with retail investors? If you look at the Lipper (AMG) equity fund flow numbers so far this year, it looks fairly positive: The four-week average for weekly equity flows shows inflows of anywhere from $600 million to $4.5 billion...healthy! But look below the hood: If you remove exchange-traded funds (ETFs) , there are still inflows, but they are much more modest....anywhere from $200 million to $800 million. Why look at equity flows ex-ETFs? Because ETFs are still largely used by professionals...not exclusively, of course, but largely. Bottom line: Retail investors are still only slowly warming to stocks. But it's a start. 2) Global markets this week: Moving up! Asia Japanese stocks rose for a sixth straight week as technology firms boosted the Nikkei 225 index to its highest level since July. Japan +2.0% Australia +1.5% Hong Kong +1.1% Korea +0.8% China -1.4% Europe Great Britain, Germany, and France all rally to eight-month highs on the back on strong performance from financials. Germany +4.4% France +3.0% Italy +3.0% Spain +1.7% UK +1.4% Greece +0.1% U.S. The S&P 500 index and Nasdaq Composite Index look to clinch a fifth-consecutive week of gains, with the S&P 500 on track to post its biggest weekly advance this year. Dow Jones Industrial Average +2.6% S&P 500 index +2.3% Nasdaq Composite Index +2.3% Russell 2000 Index +1.8% _____________________________Bookmark CNBC Data Pages:The Dow 30 — in Real TimeOil, Gold, Natural Gas Prices NowUS Dollar, Minute by Minute_____________________________Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani. Questions?  Comments?  tradertalk@cnbc.com

2021-10-30 14:12:21.328345

Hurricane Season: Protect Portfolio From Unpredictable

https://www.cnbc.com/2009/05/29/hurricane-season-protect-portfolio-from-unpredictable.html

2009-05-29T22:04:14+0000

Lee Brodie

CNBC

Storm season begins June 1st in the Atlantic. And if last year is any indication, the damage could be significant. According to the website TheDailyGreen , "Last year, the Atlantic saw 16 named tropical storms -- from Arthur on May 30, which killed five and caused $78 million in damages to Belize, to Hurricane Paloma, which formed Nov. 5 and struck Cuba as a Category 4 monster that was the second-most intense hurricane ever recorded in November. "

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<div class="group"><p>Storm season begins June 1^st in the Atlantic. And if last year is any indication, the damage could be significant. <br><br>According to the website <a href="http://www.thedailygreen.com/environmental-news/latest/2009-hurricane-names-47052903" target="_blank">TheDailyGreen</a> , "Last year, the Atlantic saw 16 named tropical storms -- from Arthur on May 30, which killed five and caused $78 million in damages to Belize, to Hurricane Paloma, which formed Nov. 5 and struck Cuba as a Category 4 monster that was the second-most intense hurricane ever recorded in November. "</p></div>,<div class="group"><p>All in all, there were eight Atlantic hurricanes and storms caused an estimated $41 billion in damages.</p><div style="height:100%" class="lazyload-placeholder"></div><p>This year might be even worse. Famed Colorado State University hurricane forecaster Bill Gray predicts about <em>12 storm and </em>says at least two will probably reach Category 3 status or higher.</p><p>How can you protect your portfolio for the unpredictable?</p><p>According to Emily French, Consiliagra managing director, get into commodities futures<em> now</em> ahead of the volatile summer season. She thinks too much rain -- or too little rain -- will wreak havoc with crops. French suggests looking at the November Soy Futures as well as the December Corn Futures.</p><p>Or if you’re not comfortable trading bushels of corn or beans, she also says the Powershares DB Agriculture Fund will get the job done.<br><br></p><p>______________________________________________________<br>Got something to to say? Send us an e-mail at <a href="mailto:fastmoney-web@cnbc.com" class="webresource" target="_blank">fastmoney-web@cnbc.com</a> and your comment might be posted on the <em>Rapid Recap. </em>If you'd prefer to make a comment but not have it published on our website send your e-mail to <!-- -->.<br><br><em>Trader disclosure: On May 29TH, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Grasso Owns (AMZN), (CSCO), (RIMM), (V), (KLF); Stuart Frankel Clients Own (SUN), (YHOO), (AAPL), (AMD) ,(BAC) ,(BHI) ,(BP), (C), (COP) ,(CVX) ,(F) ,(GS) ,(HAL) ,(PFE) ,(SLB) ,(SUN) ,(USO) ,(VLO) ,(WFC) ,(USB) ,(PBR), (JPM), (LMT), (GD), (AET), (GM); Finerman's Firm Owns (MRO); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Finerman's Firm And Finerman Own (BAC) Preferred Shares And Are Short (BAC); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Najarian Owns (PFE); Najarian Owns (BP) Call Spread; Najarian Owns (CLF) Call Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (HIG) Put Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (PCU) Calls; Finerman's Firm Owns (IBB), (XBI), (CSCO), Finerman's Firm And Finerman Own (FLS); Finerman's Firm Owns (BWA) Puts<br><br>Terranova Owns (XBI), (ABT), (RIMM), (HES), (TER), (BTU), (MS), (JPM), (MS), (HES); Terranova Is Short (XOM) Call Spreads; Terranova Owns (DIS) Call Spreads: Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO: Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of  (ABD),(ARE),(CAL),(DLR),(EPR),(EXR),(IGE),(MEE),(DBC),(DBV),(DBA),(SKT),(UA),(CLB), (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land &amp; Exploration Co; Virtus Investment Partners Owns More Than 1% Of  Seagate Tax Refund Rights</em></p></div>

Storm season begins June 1st in the Atlantic. And if last year is any indication, the damage could be significant. According to the website TheDailyGreen , "Last year, the Atlantic saw 16 named tropical storms -- from Arthur on May 30, which killed five and caused $78 million in damages to Belize, to Hurricane Paloma, which formed Nov. 5 and struck Cuba as a Category 4 monster that was the second-most intense hurricane ever recorded in November. "All in all, there were eight Atlantic hurricanes and storms caused an estimated $41 billion in damages.This year might be even worse. Famed Colorado State University hurricane forecaster Bill Gray predicts about 12 storm and says at least two will probably reach Category 3 status or higher.How can you protect your portfolio for the unpredictable?According to Emily French, Consiliagra managing director, get into commodities futures now ahead of the volatile summer season. She thinks too much rain -- or too little rain -- will wreak havoc with crops. French suggests looking at the November Soy Futures as well as the December Corn Futures.Or if you’re not comfortable trading bushels of corn or beans, she also says the Powershares DB Agriculture Fund will get the job done.______________________________________________________Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to .Trader disclosure: On May 29TH, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Grasso Owns (AMZN), (CSCO), (RIMM), (V), (KLF); Stuart Frankel Clients Own (SUN), (YHOO), (AAPL), (AMD) ,(BAC) ,(BHI) ,(BP), (C), (COP) ,(CVX) ,(F) ,(GS) ,(HAL) ,(PFE) ,(SLB) ,(SUN) ,(USO) ,(VLO) ,(WFC) ,(USB) ,(PBR), (JPM), (LMT), (GD), (AET), (GM); Finerman's Firm Owns (MRO); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Finerman's Firm And Finerman Own (BAC) Preferred Shares And Are Short (BAC); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Najarian Owns (PFE); Najarian Owns (BP) Call Spread; Najarian Owns (CLF) Call Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (HIG) Put Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (PCU) Calls; Finerman's Firm Owns (IBB), (XBI), (CSCO), Finerman's Firm And Finerman Own (FLS); Finerman's Firm Owns (BWA) PutsTerranova Owns (XBI), (ABT), (RIMM), (HES), (TER), (BTU), (MS), (JPM), (MS), (HES); Terranova Is Short (XOM) Call Spreads; Terranova Owns (DIS) Call Spreads: Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO: Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of  (ABD),(ARE),(CAL),(DLR),(EPR),(EXR),(IGE),(MEE),(DBC),(DBV),(DBA),(SKT),(UA),(CLB), (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of  Seagate Tax Refund Rights

2021-10-30 14:12:21.393090

USPS chief Louis DeJoy will testify Friday in Senate as his overhaul of the post office comes under scrutiny

https://www.cnbc.com/2020/08/18/usps-chief-louis-dejoy-to-face-more-scrutiny-in-senate-testimony-friday.html

2020-08-18T14:00:19+0000

Kevin Breuninger

CNBC

Postmaster General Louis DeJoy will testify Friday before the Senate Homeland Security and Governmental Affairs Committee as lawmakers speak out against his overhaul of the U.S. Postal Service. The hearing, which is scheduled for 9 a.m. ET before the Republican-led panel, will mark DeJoy's first time directly answering questions from Congress about the post office, which has come under intense scrutiny in the runup to the 2020 presidential election."I am pleased to have secured an oversight hearing on Friday with Postmaster General DeJoy in order to address urgent questions on the Postal Service delays that are causing massive disruptions across the country," Sen. Gary Peters of Michigan, the ranking Democrat on the committee, said in a statement Tuesday."As Ranking Member on the only Senate Committee with oversight of the Postal Service, I will continue pressing for answers on Mr. DeJoy's recent directives and their impacts on all Americans, who rely on the Postal Service for prescriptions, running their small businesses, voting and other crucial purposes."DeJoy's cost-cutting measures at the ailing government agency reportedly include crackdowns on making late delivery trips and cuts to overtime pay and have led to claims of widespread mail delays.Democrats have raised concerns that the changes made by DeJoy, a major donor to Republicans and committees supporting President Donald Trump's reelection, could impact the November election, where the coronavirus pandemic is expected to lead more Americans than ever before to cast their ballots by mail.DeJoy has also come under fire for his business investments, which some Democrats say could pose conflicts of interest. CNN reported last week that DeJoy continues to hold at least $30 million in holdings in his former company XPO Logistics, which is a United States Postal Service contractor. The New York Times, citing financial disclosure forms, reported on Monday that Dejoy received $1.2 million to $7 million in income last year from XPO Logisitics.DeJoy was selected in May by the USPS Board of Governors, all of whom were appointed by Trump. DeJoy is reportedly the first postmaster general in nearly two decades who has not been a career employee of the agency.Trump has repeatedly railed against so-called universal mail-in voting, claiming without evidence that it will lead to massive fraud and a "rigged" election. He has drawn a distinction between absentee voting — a system he has reportedly utilized as president — and the efforts by some governors to send out ballots to all eligible voters. At the White House on Tuesday, Trump claimed again that widespread mail-in voting will lead to "a disaster the likes of which our country has never seen.""It'll end up being a rigged election or they will never come out with an outcome. They'll have to do it again," Trump said. "And nobody wants that, and I don't want that."Polls show Democrats are far more likely than Republicans to vote for president by mail, according to a recent Change Research/CNBC poll of likely voters in battleground states.A spokesman for Sen. Ron Johnson of Wisconsin, the Republican chairman of the Homeland Security Committee, did not immediately respond to CNBC's request for comment.Senate Minority Leader Chuck Schumer, D-N.Y., cheered the announcement of the hearing. "I am pleased that immense pressure from Senate Democrats and the American people have forced Senate Republicans to confront Postmaster General DeJoy's ongoing sabotage of the Postal Service that threatens the integrity of our elections and delays vital services," Schumer said in a statement.Schumer on Monday had pushed Johnson to schedule a hearing with DeJoy after the House Oversight Committee, led by Rep. Carolyn Maloney, D-N.Y., announced that the postmaster general would testify before her panel next week.Robert Duncan, chairman of the USPS board, which selected DeJoy in May, will also testify before the House committee.Peters was one of seven senators who sent a letter Monday urging the Postal Service's Board of Governors to reverse DeJoy's changes to the agency. That letter noted that if DeJoy refuses to cooperate with their proposed reversal, the board has the authority to remove him.

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<div class="group"><p>Postmaster General Louis DeJoy will testify Friday before the Senate Homeland Security and Governmental Affairs Committee as lawmakers speak out against his overhaul of the U.S. Postal Service. </p><p>The hearing, which is scheduled for 9 a.m. ET before the Republican-led panel, will mark DeJoy's first time directly answering questions from Congress about the post office, which has come under intense scrutiny in the runup to the 2020 presidential election.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"I am pleased to have secured an oversight hearing on Friday with Postmaster General DeJoy in order to address urgent questions on the Postal Service delays that are causing massive disruptions across the country," Sen. Gary Peters of Michigan, the ranking Democrat on the committee, said in a statement Tuesday.</p><p>"As Ranking Member on the only Senate Committee with oversight of the Postal Service, I will continue pressing for answers on Mr. DeJoy's recent directives and their impacts on all Americans, who rely on the Postal Service for prescriptions, running their small businesses, voting and other crucial purposes."</p><p>DeJoy's cost-cutting measures at the ailing government agency reportedly include crackdowns on making late delivery trips and cuts to overtime pay and have led to claims of widespread mail delays.</p><p>Democrats have raised concerns that the changes made by DeJoy, a major donor to Republicans and committees supporting President <a href="https://www.cnbc.com/donald-trump/">Donald Trump</a>'s reelection, could impact the November election, where the coronavirus pandemic is expected to lead more Americans than ever before to cast their ballots by mail.</p><p>DeJoy <a href="https://www.cnbc.com/2020/08/13/elizabeth-warren-wants-probe-of-amazon-options-held-by-postal-chief-dejoy.html">has also come under fire for his business investments, which some Democrats say could pose conflicts of interest</a>. </p><div style="height:100%" class="lazyload-placeholder"></div><p>CNN <a href="https://www.cnn.com/2020/08/13/politics/donald-trump-melania-florida-mail-in-ballot/index.html" target="_blank">reported last week</a> that DeJoy continues to hold at least $30 million in holdings in his former company XPO Logistics, which is a United States Postal Service contractor. The New York Times, citing financial disclosure forms, reported on Monday that <a href="https://www.nytimes.com/2020/08/17/us/politics/dejoy-postal-service-mail-in-voting.html" target="_blank">Dejoy received $1.2 million to $7 million in income last year from XPO Logisitics.</a></p><p>DeJoy was selected in May by the USPS Board of Governors, all of whom were appointed by Trump. DeJoy is reportedly the first postmaster general in nearly two decades <a href="https://www.cnbc.com/2020/08/13/trump-refuses-post-office-funding-as-part-of-fight-against-mail-in-voting.html">who has not been a career employee of the agency</a>.</p><p>Trump has repeatedly railed against so-called universal mail-in voting, claiming without evidence that it will lead to massive fraud and a "rigged" election. He has drawn a distinction between absentee voting — a system he has <a href="https://www.cnn.com/2020/08/13/politics/donald-trump-melania-florida-mail-in-ballot/index.html" target="_blank">reportedly utilized</a> as president — and the efforts by some governors to send out ballots to all eligible voters. </p><p>At the White House on Tuesday, Trump claimed again that widespread mail-in voting will lead to "a disaster the likes of which our country has never seen."</p><p>"It'll end up being a rigged election or they will never come out with an outcome. They'll have to do it again," Trump said. "And nobody wants that, and I don't want that."</p><p>Polls show Democrats are <a href="https://www.cnbc.com/2020/08/13/trump-refuses-post-office-funding-as-part-of-fight-against-mail-in-voting.html">far more likely than Republicans</a> to vote for president by mail, <a href="https://www.cnbc.com/2020/08/12/coronavirus-stimulus-voters-blame-both-parties-for-unemployment-expiration.html">according to a recent Change Research/CNBC poll</a> of likely voters in battleground states.</p><p>A spokesman for Sen. Ron Johnson of Wisconsin, the Republican chairman of the Homeland Security Committee, did not immediately respond to CNBC's request for comment.</p><p>Senate Minority Leader Chuck Schumer, D-N.Y., cheered the announcement of the hearing. "I am pleased that immense pressure from Senate Democrats and the American people have forced Senate Republicans to confront Postmaster General DeJoy's ongoing sabotage of the Postal Service that threatens the integrity of our elections and delays vital services," Schumer said in a statement.</p><p>Schumer on Monday had pushed Johnson to schedule a hearing with DeJoy after the House Oversight Committee, led by Rep. Carolyn Maloney, D-N.Y., <a href="https://www.cnbc.com/2020/08/17/usps-chief-louis-dejoy-agrees-to-testify-before-congress-next-week-democrats-say.html">announced that the postmaster general would testify before her panel next week</a>.</p><p>Robert Duncan, chairman of the USPS board, which selected DeJoy in May, will also testify before the House committee.</p><p>Peters was one of seven senators who <a href="https://www.cnbc.com/2020/08/17/usps-senate-democrats-demand-reversal-of-new-postal-chiefs-policy-changes.html">sent a letter Monday urging the Postal Service's Board of Governors to reverse DeJoy's changes to the agency</a>. That letter noted that if DeJoy refuses to cooperate with their proposed reversal, the board has the authority to remove him.</p></div>

Postmaster General Louis DeJoy will testify Friday before the Senate Homeland Security and Governmental Affairs Committee as lawmakers speak out against his overhaul of the U.S. Postal Service. The hearing, which is scheduled for 9 a.m. ET before the Republican-led panel, will mark DeJoy's first time directly answering questions from Congress about the post office, which has come under intense scrutiny in the runup to the 2020 presidential election."I am pleased to have secured an oversight hearing on Friday with Postmaster General DeJoy in order to address urgent questions on the Postal Service delays that are causing massive disruptions across the country," Sen. Gary Peters of Michigan, the ranking Democrat on the committee, said in a statement Tuesday."As Ranking Member on the only Senate Committee with oversight of the Postal Service, I will continue pressing for answers on Mr. DeJoy's recent directives and their impacts on all Americans, who rely on the Postal Service for prescriptions, running their small businesses, voting and other crucial purposes."DeJoy's cost-cutting measures at the ailing government agency reportedly include crackdowns on making late delivery trips and cuts to overtime pay and have led to claims of widespread mail delays.Democrats have raised concerns that the changes made by DeJoy, a major donor to Republicans and committees supporting President Donald Trump's reelection, could impact the November election, where the coronavirus pandemic is expected to lead more Americans than ever before to cast their ballots by mail.DeJoy has also come under fire for his business investments, which some Democrats say could pose conflicts of interest. CNN reported last week that DeJoy continues to hold at least $30 million in holdings in his former company XPO Logistics, which is a United States Postal Service contractor. The New York Times, citing financial disclosure forms, reported on Monday that Dejoy received $1.2 million to $7 million in income last year from XPO Logisitics.DeJoy was selected in May by the USPS Board of Governors, all of whom were appointed by Trump. DeJoy is reportedly the first postmaster general in nearly two decades who has not been a career employee of the agency.Trump has repeatedly railed against so-called universal mail-in voting, claiming without evidence that it will lead to massive fraud and a "rigged" election. He has drawn a distinction between absentee voting — a system he has reportedly utilized as president — and the efforts by some governors to send out ballots to all eligible voters. At the White House on Tuesday, Trump claimed again that widespread mail-in voting will lead to "a disaster the likes of which our country has never seen.""It'll end up being a rigged election or they will never come out with an outcome. They'll have to do it again," Trump said. "And nobody wants that, and I don't want that."Polls show Democrats are far more likely than Republicans to vote for president by mail, according to a recent Change Research/CNBC poll of likely voters in battleground states.A spokesman for Sen. Ron Johnson of Wisconsin, the Republican chairman of the Homeland Security Committee, did not immediately respond to CNBC's request for comment.Senate Minority Leader Chuck Schumer, D-N.Y., cheered the announcement of the hearing. "I am pleased that immense pressure from Senate Democrats and the American people have forced Senate Republicans to confront Postmaster General DeJoy's ongoing sabotage of the Postal Service that threatens the integrity of our elections and delays vital services," Schumer said in a statement.Schumer on Monday had pushed Johnson to schedule a hearing with DeJoy after the House Oversight Committee, led by Rep. Carolyn Maloney, D-N.Y., announced that the postmaster general would testify before her panel next week.Robert Duncan, chairman of the USPS board, which selected DeJoy in May, will also testify before the House committee.Peters was one of seven senators who sent a letter Monday urging the Postal Service's Board of Governors to reverse DeJoy's changes to the agency. That letter noted that if DeJoy refuses to cooperate with their proposed reversal, the board has the authority to remove him.

2021-10-30 14:12:21.427737

Goldman's Best Energy Stocks for the Next Six Months

https://www.cnbc.com/2011/09/19/goldmans-best-energy-stocks-for-the-next-six-months.html

2011-09-19T18:16:00+0000

CNBC

Goldman Sachs, which advised investors to sell oil in April and reversed its stance before prices rebounded a month later, is now the most bullish on four stocks in the industry. The global investment bank is highest on Noble Energy , whose shares may rise 50 percent in the next six months, according to its forecast. Goldman Sachs says Brent crude oil should rise to about $130 a barrel within a year from $114 today, driven by demand in emerging economies.

cnbc, Articles, Exxon Mobil Corp, Noble Energy Inc, Hornbeck Offshore Services Inc, Goldman Sachs Group Inc, CVR Energy Inc, Disclaimer, Bonds, Currencies, Futures & Commodities, DOW 30, Markets, stocks, Stock Blog, source:tagname:The Street

<div class="group"><p>Goldman Sachs, which advised investors to sell oil in April and reversed its stance before prices rebounded a month later, is now the most bullish on four stocks in the industry. </p><p>The global investment bank is highest on Noble Energy , whose shares may rise 50 percent in the next six months, according to its forecast. Goldman Sachs says Brent crude oil should rise to about $130 a barrel within a year from $114 today, driven by demand in emerging economies. </p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>A slowdown in economic growth has had analysts scrambling to alter their forecasts. Even the <strong>Federal Reserve </strong>has said the U.S. economy is growing more slowly than it had expected earlier in the year. The International Energy Agency last week reduced its oil demand estimate by 0.2 million barrels a day for 2011 and 0.4 million barrels a day for 2012. However, the agency still forecasts oil demand to be marginally higher than the current supply next year.</p><p>Analysts are bullish on select stocks as industry consolidation is ongoing, and because high growth rates in emerging markets provide a floor for share prices and oil stocks can serve as an inflation hedge. Some companies are paying outsized dividends, which are attractive as Treasury <strong>yields </strong>have fallen to less than 2 percent. </p><p>For example, Exxon Mobil carries a hefty 2.6 percent projected dividend yield, in addition to an estimated 35 percent stock-appreciation forecast over the next six months. </p><p>Oil and gas exploration and production companies' shares are down an average of 13 percent this year, according to Morningstar. That's three times as much as that of the benchmark S&amp;P 500 Index. So anyone moving into oil stocks now must reconcile the fact that the industry has been a laggard. </p><p>Here are Goldman Sachs' current "conviction list" energy-stock picks: </p><div style="height:100%" class="lazyload-placeholder"></div><p>1. Noble Energy is a Houston-based oil and gas producer in the U.S., with diverse developable resources including in Equatorial Guinea, the North Sea, Israel and China. It has extensive offshore operations in the Gulf of Mexico. About 30 percent of its natural gas production is in the U.S., including oil shale projects. </p><p>Goldman analysts said in a recent research note that Noble "has a strong balance sheet, with a 16 percent net debt to tangible capital ratio even before substantial expected free cash flow in the next three years, as long lead time projects come online." </p><p>Noble gets a six-month $121 price target from Goldman, which is a 50 percent premium to its current price. Its shares have a projected 1 percent dividend yield. </p><p>The company's shares are down 5 percent this year, but up 6 percent over the past 12 months, giving it a market valuation of $14 billion. </p><p>2. Exxon Mobil, one of the world's largest companies, is an integrated oil and gas producer and distributor and also the world's biggest refiner. It is also one of the world's top manufacturers of commodity and specialty chemicals. </p><p>Due to its operational efficiencies, it consistently delivers higher returns on capital relative to peers and its sheer size gives it leverage in the competition for developable oil projects worldwide. Its current production mix is evenly split between liquids and natural gas. </p><p>In its latest blockbuster deal, the company announced Sept. 2 that it had entered an agreement with the Russian-government owned oil company Rosneft, to jointly explore and develop oil and gas resources in Russia, the U.S., and other countries. </p><p>Its strong, steady cash flow assures increasing dividend payments and stock buy backs, even while funding huge capital-intensive projects. </p><p>Goldman has a six-month $97 price target on its shares, a 33 percent premium to its current price. Its shares are up 1 percent this year and 22 percent over the past 12 months, giving it a $356 billion market valuation. </p><p>3. CVR Energy is a nitrogen-fertilizer and petroleum-refining company. It also runs a crude-oil gathering system and storage facility in Kansas and a proprietary pipeline system that transports crude oil to its refinery. </p><p>Goldman has a six-month $32 price target on its shares, a 23 percent premium to the current price. </p><p>Its shares are up 65 percent this year and 207 percent over the past 12 months, giving it a $2.2 billion market value. </p><p>4. Hornbeck Offshore: The only repeat on the conviction list of three months ago is Hornbeck Offshore, a provider of offshore supply vessel fleets, which it uses to transport goods and supplies to and from offshore rigs and platforms, primarily in the Gulf of Mexico. It also has a large fleet of tug and tank barges, which mostly transport petroleum. </p><p>Goldman analysts say the company remains on their list based on the belief "that the recovery in the Gulf of Mexico is under way." </p><p>They write that "earnings should accelerate sharply over the next few quarters as additional (offshore vessels) go to work. We expect Hornbeck to return to profitability as soon as the fourth quarter." It posted a loss of 26 cents per share in the second quarter. </p><p>The firm has a $31 price target on its shares over the next six months, a 12 percent premium to its current price. </p><p>Its shares have a market value of $751 million. They've been rocketing, gaining 14 percent in the past month, 36 percent this year and 79 percent over the past 12 months. </p><p>______________________________</p><p><strong><em>CNBC Data Pages:</em></strong></p><ul><li><a href="https://www.cnbc.com/dow-30/">Dow 30 Stocks—In Real Time </a></li><li><a href="https://www.cnbc.com/futures-and-commodities/">Oil, Gold, Natural Gas Prices Now </a></li><li><a href="https://www.cnbc.com/currencies/">Where's the US Dollar Today?</a></li><li><a href="https://www.cnbc.com/bonds/">Track Treasury Prices Here</a></li></ul><p>______________________________ <br><strong><em>Disclosures:</em></strong></p><p>TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.</p><p><a href="https://www.cnbc.com/stocks-disclaimer.html">Disclaimer</a></p></div>

Goldman Sachs, which advised investors to sell oil in April and reversed its stance before prices rebounded a month later, is now the most bullish on four stocks in the industry. The global investment bank is highest on Noble Energy , whose shares may rise 50 percent in the next six months, according to its forecast. Goldman Sachs says Brent crude oil should rise to about $130 a barrel within a year from $114 today, driven by demand in emerging economies. A slowdown in economic growth has had analysts scrambling to alter their forecasts. Even the Federal Reserve has said the U.S. economy is growing more slowly than it had expected earlier in the year. The International Energy Agency last week reduced its oil demand estimate by 0.2 million barrels a day for 2011 and 0.4 million barrels a day for 2012. However, the agency still forecasts oil demand to be marginally higher than the current supply next year.Analysts are bullish on select stocks as industry consolidation is ongoing, and because high growth rates in emerging markets provide a floor for share prices and oil stocks can serve as an inflation hedge. Some companies are paying outsized dividends, which are attractive as Treasury yields have fallen to less than 2 percent. For example, Exxon Mobil carries a hefty 2.6 percent projected dividend yield, in addition to an estimated 35 percent stock-appreciation forecast over the next six months. Oil and gas exploration and production companies' shares are down an average of 13 percent this year, according to Morningstar. That's three times as much as that of the benchmark S&P 500 Index. So anyone moving into oil stocks now must reconcile the fact that the industry has been a laggard. Here are Goldman Sachs' current "conviction list" energy-stock picks: 1. Noble Energy is a Houston-based oil and gas producer in the U.S., with diverse developable resources including in Equatorial Guinea, the North Sea, Israel and China. It has extensive offshore operations in the Gulf of Mexico. About 30 percent of its natural gas production is in the U.S., including oil shale projects. Goldman analysts said in a recent research note that Noble "has a strong balance sheet, with a 16 percent net debt to tangible capital ratio even before substantial expected free cash flow in the next three years, as long lead time projects come online." Noble gets a six-month $121 price target from Goldman, which is a 50 percent premium to its current price. Its shares have a projected 1 percent dividend yield. The company's shares are down 5 percent this year, but up 6 percent over the past 12 months, giving it a market valuation of $14 billion. 2. Exxon Mobil, one of the world's largest companies, is an integrated oil and gas producer and distributor and also the world's biggest refiner. It is also one of the world's top manufacturers of commodity and specialty chemicals. Due to its operational efficiencies, it consistently delivers higher returns on capital relative to peers and its sheer size gives it leverage in the competition for developable oil projects worldwide. Its current production mix is evenly split between liquids and natural gas. In its latest blockbuster deal, the company announced Sept. 2 that it had entered an agreement with the Russian-government owned oil company Rosneft, to jointly explore and develop oil and gas resources in Russia, the U.S., and other countries. Its strong, steady cash flow assures increasing dividend payments and stock buy backs, even while funding huge capital-intensive projects. Goldman has a six-month $97 price target on its shares, a 33 percent premium to its current price. Its shares are up 1 percent this year and 22 percent over the past 12 months, giving it a $356 billion market valuation. 3. CVR Energy is a nitrogen-fertilizer and petroleum-refining company. It also runs a crude-oil gathering system and storage facility in Kansas and a proprietary pipeline system that transports crude oil to its refinery. Goldman has a six-month $32 price target on its shares, a 23 percent premium to the current price. Its shares are up 65 percent this year and 207 percent over the past 12 months, giving it a $2.2 billion market value. 4. Hornbeck Offshore: The only repeat on the conviction list of three months ago is Hornbeck Offshore, a provider of offshore supply vessel fleets, which it uses to transport goods and supplies to and from offshore rigs and platforms, primarily in the Gulf of Mexico. It also has a large fleet of tug and tank barges, which mostly transport petroleum. Goldman analysts say the company remains on their list based on the belief "that the recovery in the Gulf of Mexico is under way." They write that "earnings should accelerate sharply over the next few quarters as additional (offshore vessels) go to work. We expect Hornbeck to return to profitability as soon as the fourth quarter." It posted a loss of 26 cents per share in the second quarter. The firm has a $31 price target on its shares over the next six months, a 12 percent premium to its current price. Its shares have a market value of $751 million. They've been rocketing, gaining 14 percent in the past month, 36 percent this year and 79 percent over the past 12 months. ______________________________CNBC Data Pages:Dow 30 Stocks—In Real Time Oil, Gold, Natural Gas Prices Now Where's the US Dollar Today?Track Treasury Prices Here______________________________ Disclosures:TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.Disclaimer

2021-10-30 14:12:21.470912

Executive Decision: Allscripts CEO Glenn Tullman

https://www.cnbc.com/2008/10/17/executive-decision-allscripts-ceo-glenn-tullman.html

2008-10-17T23:31:09+0000

Tom Brennan

CNBC

Back on Aug. 25, Cramer talked with Allscripts Chairman and CEO Glenn Tullman about an upcoming dividend payout that could hurt the stock. Sure enough, there’s been a precipitous drop over the past couple of weeks for just that reason.Tullman returned to Mad Money Friday to fill in investors on the Allscripts’ latest happenings; most importantly that the decline does not represent a drop off in the business, but rather reflects that dividend payout. A quick look at a 30-day chart might confuse unknowing investors, so it’s important to be clear.So what happened? Allscripts has new ownership. Mysis PLC, which trades on the London exchange, merged its Mysis Healthcare Systems division with Allscripts and, for an addition $330 million, took at 54.5% stake in the company. The dividend merger was a payout of this merger. But the newly combined companies have a “shared vision,” Tullman said, and investors shouldn’t be worried about integration problems. So Allscripts, on top of the $70 million already invested in research and development and the one out of three doctors who use the company’s e-prescribing software, now has a better base to sell into and that should accelerate growth over time.But why not just keep that money instead of paying that dividend?“We like to take care of our shareholders,” Tullman said, “and we have what we need to grow today.”Cramer is bullish on Allscripts, a stock he called “a pure Barack Obama play” because the company fits into the Democrat’s plans to cut healthcare costs.Questions for Cramer? Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

cnbc, Articles, Allscripts Healthcare Solutions Inc, CNBC TV, Mad Money, source:tagname:CNBC US Source

<div class="group"><p><a href="https://www.cnbc.com/2008/08/25/is-allscripts-a-buy.html">Back on Aug. 25</a>, Cramer talked with <strong>Allscripts</strong> Chairman and CEO Glenn Tullman about an upcoming dividend payout that could hurt the stock. Sure enough, there’s been a precipitous drop over the past couple of weeks for just that reason.<br><br></p><p>Tullman returned to Mad Money Friday to fill in investors on the Allscripts’ latest happenings; most importantly that the decline does not represent a drop off in the business, but rather reflects that dividend payout. A quick look at a 30-day chart might confuse unknowing investors, so it’s important to be clear.</p><div style="height:100%" class="lazyload-placeholder"></div><p>So what happened? Allscripts has new ownership. Mysis PLC, which trades on the London exchange, merged its Mysis Healthcare Systems division with Allscripts and, for an addition $330 million, took at 54.5% stake in the company. The dividend merger was a payout of this merger. </p><p>But the newly combined companies have a “shared vision,” Tullman said, and investors shouldn’t be worried about integration problems. So Allscripts, on top of the $70 million already invested in research and development and the one out of three doctors who use the company’s e-prescribing software, now has a better base to sell into and that should accelerate growth over time.</p><p>But why not just keep that money instead of paying that dividend?</p><p>“We like to take care of our shareholders,” Tullman said, “and we have what we need to grow today.”</p><p>Cramer is bullish on Allscripts, a stock he called “a pure Barack Obama play” because the company fits into the Democrat’s plans to cut healthcare costs.<br><br><br><br><br><br><br><br></p><div style="height:100%" class="lazyload-placeholder"></div><p><em>Questions for Cramer? </em></p><p><em>Questions, comments, suggestions for the Mad Money website? </em><a href="mailto:madcap@cnbc.com" class="webresource" target="_blank">madcap@cnbc.com</a></p></div>

Back on Aug. 25, Cramer talked with Allscripts Chairman and CEO Glenn Tullman about an upcoming dividend payout that could hurt the stock. Sure enough, there’s been a precipitous drop over the past couple of weeks for just that reason.Tullman returned to Mad Money Friday to fill in investors on the Allscripts’ latest happenings; most importantly that the decline does not represent a drop off in the business, but rather reflects that dividend payout. A quick look at a 30-day chart might confuse unknowing investors, so it’s important to be clear.So what happened? Allscripts has new ownership. Mysis PLC, which trades on the London exchange, merged its Mysis Healthcare Systems division with Allscripts and, for an addition $330 million, took at 54.5% stake in the company. The dividend merger was a payout of this merger. But the newly combined companies have a “shared vision,” Tullman said, and investors shouldn’t be worried about integration problems. So Allscripts, on top of the $70 million already invested in research and development and the one out of three doctors who use the company’s e-prescribing software, now has a better base to sell into and that should accelerate growth over time.But why not just keep that money instead of paying that dividend?“We like to take care of our shareholders,” Tullman said, “and we have what we need to grow today.”Cramer is bullish on Allscripts, a stock he called “a pure Barack Obama play” because the company fits into the Democrat’s plans to cut healthcare costs.Questions for Cramer? Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

2021-10-30 14:12:21.574268

More US Service Jobs Heading Offshore

https://www.cnbc.com/2012/12/07/more-us-service-jobs-heading-offshore.html

2012-12-07T17:17:03+0000

CNBC

The strike that crippled two of the nation's busiest shipping ports was settled this week, but the trend it spotlighted — the offshoring of service jobs — is expected to continue to grow across the USA. The eight-day walkout by clerical workers at the ports of Los Angeles and Long Beach largely centered on the outsourcing of their jobs overseas and to elsewhere in the U.S., says Craig Merrilees, a spokesman for the International Longshore and Warehouse Union. Shippers denied outsourcing jobs, but the tentative settlement restricts the practice, according to the Associated Press.Service companies have been sending jobs abroad in large numbers the past decade to cut labor costs — a trend that accelerated in the recession and is expected to continue the next few years before slowing after 2016. About 663,000 large-company jobs in information technology, human resources, finance and purchasing — the category that includes the port workers — have been offshored since 2002, according to The Hackett Group. By 2016, the consulting firm estimates, another 375,000 jobs in the sectors will be moved abroad. More than a third of the U.S. jobs in those industries in 2002 will have moved offshore by 2016. Most workers are employed directly by companies that previously used U.S. staffers, though some work for outsourcing firms. Hackett studied companies with at least $1 billion in annual revenue, noting they represent about 75% of the offshoring market. India is the largest offshoring center. Service jobs also have gone to eastern Europe, the Philippines, China and Mexico.(Read More: How Immigrants Are Changing U.S. Businesses) In other sectors, initially low-level jobs were offshored, such as handling payroll or tracking purchase orders. Employers typically can cut labor costs by about 75 percent, Dorr says. In recent years, a growing number of higher-level jobs have moved overseas, such as benefits analysis and vendor management, though the cost savings for offshoring those positions is only about 25 percent.The trend took off after companies began contracting with programmers in India to help with the massive preparations for the Y2K computer bug in 2000, says Hackett research director Erik Dorr. "Organizations now feel more comfortable moving up the value chain," Dorr says, noting, for example, that India's education system is improving and turning out top-notch job candidates. Since 2005, legal services such as document review, contract drafting and regulatory communication increasingly have been offshored, particularly to India, says Greg McPolin, managing director of Pangea3, a legal outsourcing firm. Indian attorneys handle work that in the U.S. is sometimes done by paralegals and at a 40 to 60 percent cost savings, he says. Several thousand legal jobs have been offshored, estimates Edward Brooks, founder of The LPO Program, a legal consulting firm. "In the current environment, it is more important than ever that … the support we provide to clients adds value without adding unnecessary cost," law firm Clifford Chance said in a statement. Once services are offshored, there's little chance they'll come back to the U.S., Dorr says. By contrast, manufacturers have returned some production to the U.S. recently, largely because of a narrowing wage gap between the U.S. and China, rising shipping costs and falling U.S. energy costs — factors that generally haven't affected service jobs. One exception: call-centers. About 500,000 of these jobs were offshored from 2006 to 2010, according to the Communications Workers of America. Many have returned to the U.S. the last few years because of cultural gaps between representatives and customers that hurt sales, says Hal Sirkin, senior partner of Boston Consulting Group. Still, CWA spokeswoman Candice Johnson called the jobs that have come back "a drop in the bucket."

cnbc, Articles, US: News, How Immigrants Are Changing US Businesses 48646997, Business News, source:tagname:USA Today

<div class="group"><p> The strike that crippled two of the nation's busiest shipping ports was settled this week, but the trend it spotlighted — the offshoring of service jobs — is expected to continue to grow across the USA.</p><p> The eight-day walkout by clerical workers at the ports of Los Angeles and Long Beach largely centered on the outsourcing of their jobs overseas and to elsewhere in the U.S., says Craig Merrilees, a spokesman for the International Longshore and Warehouse Union. Shippers denied outsourcing jobs, but the tentative settlement restricts the practice, according to the Associated Press.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Service companies have been sending jobs abroad in large numbers the past decade to cut labor costs — a trend that accelerated in the recession and is expected to continue the next few years before slowing after 2016. About 663,000 large-company jobs in information technology, human resources, finance and purchasing — the category that includes the port workers — have been offshored since 2002, according to The Hackett Group.</p><p> By 2016, the consulting firm estimates, another 375,000 jobs in the sectors will be moved abroad. More than a third of the U.S. jobs in those industries in 2002 will have moved offshore by 2016.</p><p> Most workers are employed directly by companies that previously used U.S. staffers, though some work for outsourcing firms. Hackett studied companies with at least $1 billion in annual revenue, noting they represent about 75% of the offshoring market.</p><p> India is the largest offshoring center. Service jobs also have gone to eastern Europe, the Philippines, China and Mexico.</p><p>(<em>Read More:</em> <strong><a href="https://www.cnbc.com/2012/09/04/how-immigrants-are-changing-us-businesses.html">How Immigrants Are Changing U.S. Businesses</a></strong>)</p><div style="height:100%" class="lazyload-placeholder"></div><p> In other sectors, initially low-level jobs were offshored, such as handling payroll or tracking purchase orders. Employers typically can cut labor costs by about 75 percent, Dorr says. In recent years, a growing number of higher-level jobs have moved overseas, such as benefits analysis and vendor management, though the cost savings for offshoring those positions is only about 25 percent.The trend took off after companies began contracting with programmers in India to help with the massive preparations for the Y2K computer bug in 2000, says Hackett research director Erik Dorr.</p><p> "Organizations now feel more comfortable moving up the value chain," Dorr says, noting, for example, that India's education system is improving and turning out top-notch job candidates.</p><p> Since 2005, legal services such as document review, contract drafting and regulatory communication increasingly have been offshored, particularly to India, says Greg McPolin, managing director of Pangea3, a legal outsourcing firm. Indian attorneys handle work that in the U.S. is sometimes done by paralegals and at a 40 to 60 percent cost savings, he says.</p><p> Several thousand legal jobs have been offshored, estimates Edward Brooks, founder of The LPO Program, a legal consulting firm.</p><p> "In the current environment, it is more important than ever that … the support we provide to clients adds value without adding unnecessary cost," law firm Clifford Chance said in a statement.</p><p> Once services are offshored, there's little chance they'll come back to the U.S., Dorr says. By contrast, manufacturers have returned some production to the U.S. recently, largely because of a narrowing wage gap between the U.S. and China, rising shipping costs and falling U.S. energy costs — factors that generally haven't affected service jobs.</p><p> One exception: call-centers. About 500,000 of these jobs were offshored from 2006 to 2010, according to the Communications Workers of America. Many have returned to the U.S. the last few years because of cultural gaps between representatives and customers that hurt sales, says Hal Sirkin, senior partner of Boston Consulting Group.</p><p> Still, CWA spokeswoman Candice Johnson called the jobs that have come back "a drop in the bucket."</p></div>

The strike that crippled two of the nation's busiest shipping ports was settled this week, but the trend it spotlighted — the offshoring of service jobs — is expected to continue to grow across the USA. The eight-day walkout by clerical workers at the ports of Los Angeles and Long Beach largely centered on the outsourcing of their jobs overseas and to elsewhere in the U.S., says Craig Merrilees, a spokesman for the International Longshore and Warehouse Union. Shippers denied outsourcing jobs, but the tentative settlement restricts the practice, according to the Associated Press.Service companies have been sending jobs abroad in large numbers the past decade to cut labor costs — a trend that accelerated in the recession and is expected to continue the next few years before slowing after 2016. About 663,000 large-company jobs in information technology, human resources, finance and purchasing — the category that includes the port workers — have been offshored since 2002, according to The Hackett Group. By 2016, the consulting firm estimates, another 375,000 jobs in the sectors will be moved abroad. More than a third of the U.S. jobs in those industries in 2002 will have moved offshore by 2016. Most workers are employed directly by companies that previously used U.S. staffers, though some work for outsourcing firms. Hackett studied companies with at least $1 billion in annual revenue, noting they represent about 75% of the offshoring market. India is the largest offshoring center. Service jobs also have gone to eastern Europe, the Philippines, China and Mexico.(Read More: How Immigrants Are Changing U.S. Businesses) In other sectors, initially low-level jobs were offshored, such as handling payroll or tracking purchase orders. Employers typically can cut labor costs by about 75 percent, Dorr says. In recent years, a growing number of higher-level jobs have moved overseas, such as benefits analysis and vendor management, though the cost savings for offshoring those positions is only about 25 percent.The trend took off after companies began contracting with programmers in India to help with the massive preparations for the Y2K computer bug in 2000, says Hackett research director Erik Dorr. "Organizations now feel more comfortable moving up the value chain," Dorr says, noting, for example, that India's education system is improving and turning out top-notch job candidates. Since 2005, legal services such as document review, contract drafting and regulatory communication increasingly have been offshored, particularly to India, says Greg McPolin, managing director of Pangea3, a legal outsourcing firm. Indian attorneys handle work that in the U.S. is sometimes done by paralegals and at a 40 to 60 percent cost savings, he says. Several thousand legal jobs have been offshored, estimates Edward Brooks, founder of The LPO Program, a legal consulting firm. "In the current environment, it is more important than ever that … the support we provide to clients adds value without adding unnecessary cost," law firm Clifford Chance said in a statement. Once services are offshored, there's little chance they'll come back to the U.S., Dorr says. By contrast, manufacturers have returned some production to the U.S. recently, largely because of a narrowing wage gap between the U.S. and China, rising shipping costs and falling U.S. energy costs — factors that generally haven't affected service jobs. One exception: call-centers. About 500,000 of these jobs were offshored from 2006 to 2010, according to the Communications Workers of America. Many have returned to the U.S. the last few years because of cultural gaps between representatives and customers that hurt sales, says Hal Sirkin, senior partner of Boston Consulting Group. Still, CWA spokeswoman Candice Johnson called the jobs that have come back "a drop in the bucket."

2021-10-30 14:12:21.726571

CNBC Program Changes for Saturday, 11/15 & Sunday, 11/16

https://www.cnbc.com/2014/11/12/cnbc-program-changes-for-saturday-1115-sunday-1116.html

2014-11-12T17:49:15+0000

CNBC

(ALL TIMES ARE IN ET) Saturday, 11/15/2014: 1:00 AM THE PROFIT #213 - WEST END COFFEE COMPANY (replaces THE PROFIT SOCIAL #212) 3:00 AM THE PROFIT #213 - WEST END COFFEE COMPANY (replaces THE PROFIT SOCIAL #212)Sunday, 11/16/2014: 12:00 AM THE PROFIT #213 - WEST END COFFEE COMPANY (replaces THE CAR CHASERS # 303/#201) 1:00 AM THE CAR CHASERS #303 - THREE GREAT CARS - ONE BIG PROBLEM (replaces THE CAR CHASERS #202) 1:30 AM THE CAR CHASERS #215 - PUT YOUR MONEY WHERE YOUR MOUTH IS (replaces THE CAR CHASERS #203) 3:00 AM THE CAR CHASERS #303 - THREE GREAT CARS - ONE BIG PROBLEM (replaces THE CAR CHASERS #202) 3:30 AM THE CAR CHASERS #215 - PUT YOUR MONEY WHERE YOUR MOUTH IS (replaces THE CAR CHASERS #203) About CNBC: With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 371 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries. CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps. Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://www.nbcumv.com/programming/cnbc.

cnbc, Articles, CNBC Information and Policies, CNBC: News Releases, source:tagname:CNBC US Source

<div class="group"><p> <strong><span>(ALL TIMES ARE IN ET)</span></strong><span><br> <br><strong><strong>Saturday, 11/15/2014:</strong></strong></span></p><p> 1:00 AM <a href="http://www.cnbcprime.com/the-profit/" target="_blank">THE PROFIT</a> #213 - WEST END COFFEE COMPANY <strong>(replaces THE PROFIT SOCIAL #212)</strong></p><div style="height:100%" class="lazyload-placeholder"></div><p> <span>3:00 AM THE PROFIT #213 - WEST END COFFEE COMPANY <strong>(replaces THE PROFIT SOCIAL #212)</strong></span></p><p><strong><span><strong>Sunday, 11/16/2014:</strong></span></strong></p><p> <span>12:00 AM THE PROFIT #213 - WEST END COFFEE COMPANY <strong>(replaces THE CAR CHASERS # 303/#201)</strong></span></p><p> 1:00 AM <a href="http://www.cnbcprime.com/the-car-chasers/" target="_blank">THE CAR CHASERS</a> #303 - THREE GREAT CARS - ONE BIG PROBLEM <strong>(replaces THE CAR CHASERS #202)</strong></p><p> <span>1:30 AM THE CAR CHASERS #215 - PUT YOUR MONEY WHERE YOUR MOUTH IS <strong>(replaces THE CAR CHASERS #203)</strong></span></p><div style="height:100%" class="lazyload-placeholder"></div><p> <span>3:00 AM THE CAR CHASERS #303 - THREE GREAT CARS - ONE BIG PROBLEM <strong>(replaces THE CAR CHASERS #202)</strong></span></p><p> <span>3:30 AM THE CAR CHASERS #215 - PUT YOUR MONEY WHERE YOUR MOUTH IS <strong>(replaces THE CAR CHASERS #203)</strong></span></p><p> <strong>About CNBC:</strong></p><p> With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 371 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.</p><p> CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.</p><p> Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at <a href="http://www.nbcumv.com/programming/cnbc" target="_blank">http://www.nbcumv.com/programming/cnbc</a>. </p></div>

(ALL TIMES ARE IN ET) Saturday, 11/15/2014: 1:00 AM THE PROFIT #213 - WEST END COFFEE COMPANY (replaces THE PROFIT SOCIAL #212) 3:00 AM THE PROFIT #213 - WEST END COFFEE COMPANY (replaces THE PROFIT SOCIAL #212)Sunday, 11/16/2014: 12:00 AM THE PROFIT #213 - WEST END COFFEE COMPANY (replaces THE CAR CHASERS # 303/#201) 1:00 AM THE CAR CHASERS #303 - THREE GREAT CARS - ONE BIG PROBLEM (replaces THE CAR CHASERS #202) 1:30 AM THE CAR CHASERS #215 - PUT YOUR MONEY WHERE YOUR MOUTH IS (replaces THE CAR CHASERS #203) 3:00 AM THE CAR CHASERS #303 - THREE GREAT CARS - ONE BIG PROBLEM (replaces THE CAR CHASERS #202) 3:30 AM THE CAR CHASERS #215 - PUT YOUR MONEY WHERE YOUR MOUTH IS (replaces THE CAR CHASERS #203) About CNBC: With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 371 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries. CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps. Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://www.nbcumv.com/programming/cnbc.

2021-10-30 14:12:22.096386

TeliaSonera says submits documents in Uzbek deal probe

https://www.cnbc.com/2012/10/02/teliasonera-says-submits-documents-in-uzbek-deal-probe.html

2012-10-02T12:05:00+0000

CNBC

STOCKHOLM, Oct 2 (Reuters) - Operator TeliaSonerasaid on Tuesday it had supplied Swedish prosecutors withevidence that the Gibralter-based firm Takilant, from which itbought telecom licenses in Uzbekistan, was the rightful owner ofthese licenses. "Following media reports that there is uncertaintysurrounding the ownership of the assets TeliaSonera acquiredfrom Takilant in 2007, TeliaSonera has today provided theprosecutor with documents which confirm that Takilant owned thelicenses and frequencies at the time of the acquisition," thecompany said in a statement. Prosecutors have frozen a Swedish Takilant account as partof a preliminary investigation into TeliaSonera's purchase aftera Swedish television programme alleged the company had boughtthe license from a firm with close ties to the daughter of UzbekPresident Islam Karimov. TeliaSonera, partially owned by the Swedish state, hasdenied it did anything wrong and has said it is co-operatingfully with authorities.((Niklas.Pollard@thomsonreuters.com; +46 70721 1110; ReutersMessaging: niklas.pollard.reuters.com@reuters.net))Keywords: TELIASONERA UZBEKISTAN/

cnbc, Articles, Telia Company AB, Europe, Sweden, Wires, source:tagname:Thomson Financial News

<div class="group"><p>STOCKHOLM, Oct 2 (Reuters) - Operator TeliaSonerasaid on Tuesday it had supplied Swedish prosecutors withevidence that the Gibralter-based firm Takilant, from which itbought telecom licenses in Uzbekistan, was the rightful owner ofthese licenses.</p><p> "Following media reports that there is uncertaintysurrounding the ownership of the assets TeliaSonera acquiredfrom Takilant in 2007, TeliaSonera has today provided theprosecutor with documents which confirm that Takilant owned thelicenses and frequencies at the time of the acquisition," thecompany said in a statement.</p><div style="height:100%" class="lazyload-placeholder"></div><p> Prosecutors have frozen a Swedish Takilant account as partof a preliminary investigation into TeliaSonera's purchase aftera Swedish television programme alleged the company had boughtthe license from a firm with close ties to the daughter of UzbekPresident Islam Karimov.</p><p> TeliaSonera, partially owned by the Swedish state, hasdenied it did anything wrong and has said it is co-operatingfully with authorities.</p><p>((<a href="mailto:Niklas.Pollard@thomsonreuters.com" target="_blank">Niklas.Pollard@thomsonreuters.com</a>; +46 70721 1110; ReutersMessaging: <a href="mailto:niklas.pollard.reuters.com@reuters.net" target="_blank">niklas.pollard.reuters.com@reuters.net</a>))</p><p>Keywords: TELIASONERA UZBEKISTAN/</p></div>

STOCKHOLM, Oct 2 (Reuters) - Operator TeliaSonerasaid on Tuesday it had supplied Swedish prosecutors withevidence that the Gibralter-based firm Takilant, from which itbought telecom licenses in Uzbekistan, was the rightful owner ofthese licenses. "Following media reports that there is uncertaintysurrounding the ownership of the assets TeliaSonera acquiredfrom Takilant in 2007, TeliaSonera has today provided theprosecutor with documents which confirm that Takilant owned thelicenses and frequencies at the time of the acquisition," thecompany said in a statement. Prosecutors have frozen a Swedish Takilant account as partof a preliminary investigation into TeliaSonera's purchase aftera Swedish television programme alleged the company had boughtthe license from a firm with close ties to the daughter of UzbekPresident Islam Karimov. TeliaSonera, partially owned by the Swedish state, hasdenied it did anything wrong and has said it is co-operatingfully with authorities.((Niklas.Pollard@thomsonreuters.com; +46 70721 1110; ReutersMessaging: niklas.pollard.reuters.com@reuters.net))Keywords: TELIASONERA UZBEKISTAN/

2021-10-30 14:12:22.143737

COMMODITIES-Down after post-storm oil supply boost; cocoa jumps

https://www.cnbc.com/2012/11/02/commoditiesdown-after-poststorm-oil-supply-boost-cocoa-jumps.html

2012-11-03T01:13:00+0000

CNBC

* Foreign oil tankers help ease supply crunch in US Northeast* Little focus on better-than-expected US jobs data for Oct* Oil prices lose 2 pct on the day; Brent down 4 pct* Gold hits 2-month low; copper ends down for 4th week* Cocoa rallies on Ghana supply squeeze, bucking weak trendNEW YORK, Nov 2 (Reuters) - Oil prices tumbled on Friday as foreign tankers were allowed to bring fuel from U.S. ports to the Northeast to ease a supply crunch after Hurricane Sandy, and metals and other key commodities fell on worries the devastation from the storm could hamper the economic recovery. The declines wiped out Thursday's gains that came after markets appeared to gain a sense of normalcy following the massive storm earlier this week that killed at least 102 people. Many in the stricken region were still without power, gasoline and information about when their shattered lives might return to normal. Oil prices fell more than 2 percent on the day, with U.S. crude settling below $85 a barrel and London's Brent finishing under $106. Brent, which affects global oil prices more than U.S. crude, fell nearly 4 percent on the week. Gasoline futures in New York also fell more than 2 percent, to below $2.58 per gallon, as oil tankers and pipelines supplying New Jersey and the New York Harbor - the delivery point for the U.S. contract - restored more operations that had been roiled by the hurricane. The Thomson Reuters-Jefferies CRB index, a bellwether for commodities, fell 1.6 percent after 14 of its 19 components settled in negative territory. The selloff came despite a stronger-than-expected U.S. jobs report for October which ordinarily would have sent prices rallying. While oil and gasoline fell over 2 percent, natural gas was the CRB's biggest loser for the day. It tumbled 4 percent on milder weather forecasts for the U.S. Northeast next week that reduced the potential demand for gas as a heating fuel. Oil came under pressure after the U.S. government temporarily waived Jones Act restrictions on tankers carrying fuel from the Gulf Coast refining hub to the hard-hit Northeast, increasing the fleet of ships that would normally be confined to domestic vessels and crews. ``I think economic uncertainty and next week's (U.S.) elections are weighing on oil prices. You also have the statement that the Jones Act is going to be waived for a week, suggesting some supplies are going to return,'' said analyst Gene McGillian at Tradition Energy in Stamford, Connecticut.GOLD AT 2-MONTH LOW, COPPER DOWN U.S. gold futures hit a two-month low below $1,700 an ounce and were down almost 2 percent this week, settling at below $1,682 to mark a fourth consecutive weekly decline. Gold has erased all its gains made after the U.S. Federal Reserve announced its latest bond buybacks to boost the job market in September. ``Better-than-expected numbers reduced the risk demand for gold, and a drop below $1,700 an ounce triggered sell-stops and momentum selling,'' said James Steel, metals analyst at HSBC. ``There are also long liquidation ahead of elections triggered by the job number,'' Steel said. Copper prices fell for a fourth consecutive week. Three-month copper on the London Metal Exchange closed at $7,665.50 a tonne in official rings, down 2 percent from Thursday's close of $7,826 a tonne. Corn and soybeans fell about 2 percent each on Midwest harvest projections that suggested both crops may be larger than previously thought.COCOA BUCKS LOWER TREND Cocoa bucked the weakness in other commodities, pushing above technical support levels as some exports faced a holdup and purchases slowed in the main West African growing region. New York-traded cocoa futures closed up $27, or 1.1 percent, at $2,447 per tonne, as traders watched the early progress of main crop harvests in West Africa. The market climbed for a second straight day after hitting its 200-day moving average around $2,352. Cocoa purchases in Ghana, the world's second-biggest producer of the crop, stood at 86,028 tonnes by Oct. 19 in the first week of the season, down 42 percent from the same period a year ago, trade data showed on Thursday. The numbers were lower than expected and were helping to underpin the market, traders said.Prices at 4:30 p.m. EDT (2030 GMT)

cnbc, Articles, New York City, New York, New Jersey, Connecticut, North America, Africa, United States, United Kingdom, London, Wires, source:tagname:Reuters

<div class="group"><p>* Foreign oil tankers help ease supply crunch in US Northeast</p><p>* Little focus on better-than-expected US jobs data for Oct</p><div style="height:100%" class="lazyload-placeholder"></div><p>* Oil prices lose 2 pct on the day; Brent down 4 pct</p><p>* Gold hits 2-month low; copper ends down for 4th week</p><p>* Cocoa rallies on Ghana supply squeeze, bucking weak trend</p><p>NEW YORK, Nov 2 (Reuters) - Oil prices tumbled on Friday as foreign tankers were allowed to bring fuel from U.S. ports to the Northeast to ease a supply crunch after Hurricane Sandy, and metals and other key commodities fell on worries the devastation from the storm could hamper the economic recovery. The declines wiped out Thursday's gains that came after markets appeared to gain a sense of normalcy following the massive storm earlier this week that killed at least 102 people. Many in the stricken region were still without power, gasoline and information about when their shattered lives might return to normal. Oil prices fell more than 2 percent on the day, with U.S. crude settling below $85 a barrel and London's Brent finishing under $106. Brent, which affects global oil prices more than U.S. crude, fell nearly 4 percent on the week. Gasoline futures in New York also fell more than 2 percent, to below $2.58 per gallon, as oil tankers and pipelines supplying New Jersey and the New York Harbor - the delivery point for the U.S. contract - restored more operations that had been roiled by the hurricane. The Thomson Reuters-Jefferies CRB index, a bellwether for commodities, fell 1.6 percent after 14 of its 19 components settled in negative territory. The selloff came despite a stronger-than-expected U.S. jobs report for October which ordinarily would have sent prices rallying. While oil and gasoline fell over 2 percent, natural gas was the CRB's biggest loser for the day. It tumbled 4 percent on milder weather forecasts for the U.S. Northeast next week that reduced the potential demand for gas as a heating fuel. Oil came under pressure after the U.S. government temporarily waived Jones Act restrictions on tankers carrying fuel from the Gulf Coast refining hub to the hard-hit Northeast, increasing the fleet of ships that would normally be confined to domestic vessels and crews. ``I think economic uncertainty and next week's (U.S.) elections are weighing on oil prices. You also have the statement that the Jones Act is going to be waived for a week, suggesting some supplies are going to return,'' said analyst Gene McGillian at Tradition Energy in Stamford, Connecticut.</p><p>GOLD AT 2-MONTH LOW, COPPER DOWN U.S. gold futures hit a two-month low below $1,700 an ounce and were down almost 2 percent this week, settling at below $1,682 to mark a fourth consecutive weekly decline. Gold has erased all its gains made after the U.S. Federal Reserve announced its latest bond buybacks to boost the job market in September. ``Better-than-expected numbers reduced the risk demand for gold, and a drop below $1,700 an ounce triggered sell-stops and momentum selling,'' said James Steel, metals analyst at HSBC. ``There are also long liquidation ahead of elections triggered by the job number,'' Steel said. Copper prices fell for a fourth consecutive week. Three-month copper on the London Metal Exchange closed at $7,665.50 a tonne in official rings, down 2 percent from Thursday's close of $7,826 a tonne. Corn and soybeans fell about 2 percent each on Midwest harvest projections that suggested both crops may be larger than previously thought.</p><div style="height:100%" class="lazyload-placeholder"></div><p>COCOA BUCKS LOWER TREND Cocoa bucked the weakness in other commodities, pushing above technical support levels as some exports faced a holdup and purchases slowed in the main West African growing region. New York-traded cocoa futures closed up $27, or 1.1 percent, at $2,447 per tonne, as traders watched the early progress of main crop harvests in West Africa. The market climbed for a second straight day after hitting its 200-day moving average around $2,352. Cocoa purchases in Ghana, the world's second-biggest producer of the crop, stood at 86,028 tonnes by Oct. 19 in the first week of the season, down 42 percent from the same period a year ago, trade data showed on Thursday. The numbers were lower than expected and were helping to underpin the market, traders said.</p><p>Prices at 4:30 p.m. EDT (2030 GMT)</p></div>,<div class="group"></div>,<div class="group"></div>,<div class="group"></div>,<div class="group"></div>,<div class="group"></div>

* Foreign oil tankers help ease supply crunch in US Northeast* Little focus on better-than-expected US jobs data for Oct* Oil prices lose 2 pct on the day; Brent down 4 pct* Gold hits 2-month low; copper ends down for 4th week* Cocoa rallies on Ghana supply squeeze, bucking weak trendNEW YORK, Nov 2 (Reuters) - Oil prices tumbled on Friday as foreign tankers were allowed to bring fuel from U.S. ports to the Northeast to ease a supply crunch after Hurricane Sandy, and metals and other key commodities fell on worries the devastation from the storm could hamper the economic recovery. The declines wiped out Thursday's gains that came after markets appeared to gain a sense of normalcy following the massive storm earlier this week that killed at least 102 people. Many in the stricken region were still without power, gasoline and information about when their shattered lives might return to normal. Oil prices fell more than 2 percent on the day, with U.S. crude settling below $85 a barrel and London's Brent finishing under $106. Brent, which affects global oil prices more than U.S. crude, fell nearly 4 percent on the week. Gasoline futures in New York also fell more than 2 percent, to below $2.58 per gallon, as oil tankers and pipelines supplying New Jersey and the New York Harbor - the delivery point for the U.S. contract - restored more operations that had been roiled by the hurricane. The Thomson Reuters-Jefferies CRB index, a bellwether for commodities, fell 1.6 percent after 14 of its 19 components settled in negative territory. The selloff came despite a stronger-than-expected U.S. jobs report for October which ordinarily would have sent prices rallying. While oil and gasoline fell over 2 percent, natural gas was the CRB's biggest loser for the day. It tumbled 4 percent on milder weather forecasts for the U.S. Northeast next week that reduced the potential demand for gas as a heating fuel. Oil came under pressure after the U.S. government temporarily waived Jones Act restrictions on tankers carrying fuel from the Gulf Coast refining hub to the hard-hit Northeast, increasing the fleet of ships that would normally be confined to domestic vessels and crews. ``I think economic uncertainty and next week's (U.S.) elections are weighing on oil prices. You also have the statement that the Jones Act is going to be waived for a week, suggesting some supplies are going to return,'' said analyst Gene McGillian at Tradition Energy in Stamford, Connecticut.GOLD AT 2-MONTH LOW, COPPER DOWN U.S. gold futures hit a two-month low below $1,700 an ounce and were down almost 2 percent this week, settling at below $1,682 to mark a fourth consecutive weekly decline. Gold has erased all its gains made after the U.S. Federal Reserve announced its latest bond buybacks to boost the job market in September. ``Better-than-expected numbers reduced the risk demand for gold, and a drop below $1,700 an ounce triggered sell-stops and momentum selling,'' said James Steel, metals analyst at HSBC. ``There are also long liquidation ahead of elections triggered by the job number,'' Steel said. Copper prices fell for a fourth consecutive week. Three-month copper on the London Metal Exchange closed at $7,665.50 a tonne in official rings, down 2 percent from Thursday's close of $7,826 a tonne. Corn and soybeans fell about 2 percent each on Midwest harvest projections that suggested both crops may be larger than previously thought.COCOA BUCKS LOWER TREND Cocoa bucked the weakness in other commodities, pushing above technical support levels as some exports faced a holdup and purchases slowed in the main West African growing region. New York-traded cocoa futures closed up $27, or 1.1 percent, at $2,447 per tonne, as traders watched the early progress of main crop harvests in West Africa. The market climbed for a second straight day after hitting its 200-day moving average around $2,352. Cocoa purchases in Ghana, the world's second-biggest producer of the crop, stood at 86,028 tonnes by Oct. 19 in the first week of the season, down 42 percent from the same period a year ago, trade data showed on Thursday. The numbers were lower than expected and were helping to underpin the market, traders said.Prices at 4:30 p.m. EDT (2030 GMT)

2021-10-30 14:12:22.245416

Next Gen Investing

https://www.cnbc.com/make-it/next-gen-investing/

2021-03-22T19:36:35+0000

CNBC

makeit, Make It, Make It - Money, Make It: Next Gen Investing

2021-10-30 14:12:22.276644

House passes bill to avoid a government shutdown for two months, sends it to Senate

https://www.cnbc.com/2019/09/19/house-passes-spending-bill-to-avoid-government-shutdown-sends-to-senate.html

2019-09-19T19:21:13+0000

Jacob Pramuk

CNBC

The House passed a bill Thursday to fund the government for two months and avoid another shutdown. The Democratic-held chamber approved the measure to keep the government running through Nov. 21 by a 301-123 margin. It now heads to the Senate, where Majority Leader Mitch McConnell, R-Ky., has signaled he will back a temporary spending plan. Congress has until Sept. 30 to pass a funding bill and prevent a funding lapse. A shutdown would come only months after a partial government work stoppage in December and January that lasted a record 35 days. Last month, lawmakers approved a two-year deal to set budget levels, suspend the U.S. debt ceiling and dodge automatic, across-the-board spending cuts. However, passing the appropriations bills to actually allocate the money to specific agencies has proven harder to do before the shutdown deadline. So Congress decided to pass a so-called continuing resolution to extend funding at current levels and keep the government running through most of November. Democrats and Republicans will now have to come to agreement on long-term spending bills amid yet another dispute over border security and military funding. On Wednesday, Senate Democrats blocked GOP efforts to move forward with spending bills for the Defense Department and other agencies. The party argues Republicans have neglected key domestic programs and military funding by yielding to Trump's demands for more funding for barriers on the U.S.-Mexico border.Senate Appropriations Committee Chairman Sen. Richard Shelby, R-Ala., accused the party of playing "partisan politics." Subscribe to CNBC on YouTube.

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<div class="group"><p>The House passed a bill Thursday to fund the government for two months and avoid another shutdown. </p><p>The Democratic-held chamber approved the measure to keep the government running through Nov. 21 by a 301-123 margin. It now heads to the Senate, where Majority Leader Mitch McConnell, R-Ky., has signaled he will back a temporary spending plan. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Congress has until Sept. 30 to pass a funding bill and prevent a funding lapse. A shutdown would come only months after a partial government work stoppage in December and January that lasted a record 35 days. </p><p>Last month, lawmakers approved a two-year deal to set budget levels, suspend the U.S. debt ceiling and dodge automatic, across-the-board spending cuts. However, passing the appropriations bills to actually allocate the money to specific agencies has proven harder to do before the shutdown deadline. </p><p>So Congress decided to pass a so-called continuing resolution to extend funding at current levels and keep the government running through most of November. Democrats and Republicans will now have to come to agreement on long-term spending bills amid yet another dispute over border security and military funding. </p><p>On Wednesday, Senate Democrats blocked GOP efforts to move forward with spending bills for the Defense Department and other agencies. The party argues Republicans have neglected key domestic programs and military funding by yielding to Trump's demands for more funding for barriers on the U.S.-Mexico border.</p><p>Senate Appropriations Committee Chairman Sen. Richard Shelby, R-Ala., accused the party of playing "partisan politics." <em><strong></strong></em></p><p><a href="https://www.youtube.com/c/CNBC?sub_confirmation=1" target="_blank"><em><strong>Subscribe to CNBC on YouTube.</strong></em></a></p></div>

The House passed a bill Thursday to fund the government for two months and avoid another shutdown. The Democratic-held chamber approved the measure to keep the government running through Nov. 21 by a 301-123 margin. It now heads to the Senate, where Majority Leader Mitch McConnell, R-Ky., has signaled he will back a temporary spending plan. Congress has until Sept. 30 to pass a funding bill and prevent a funding lapse. A shutdown would come only months after a partial government work stoppage in December and January that lasted a record 35 days. Last month, lawmakers approved a two-year deal to set budget levels, suspend the U.S. debt ceiling and dodge automatic, across-the-board spending cuts. However, passing the appropriations bills to actually allocate the money to specific agencies has proven harder to do before the shutdown deadline. So Congress decided to pass a so-called continuing resolution to extend funding at current levels and keep the government running through most of November. Democrats and Republicans will now have to come to agreement on long-term spending bills amid yet another dispute over border security and military funding. On Wednesday, Senate Democrats blocked GOP efforts to move forward with spending bills for the Defense Department and other agencies. The party argues Republicans have neglected key domestic programs and military funding by yielding to Trump's demands for more funding for barriers on the U.S.-Mexico border.Senate Appropriations Committee Chairman Sen. Richard Shelby, R-Ala., accused the party of playing "partisan politics." Subscribe to CNBC on YouTube.

2021-10-30 14:12:22.312628

Flash China Caixin PMI falls to 47.1 in August

https://www.cnbc.com/2015/08/20/flash-china-caixin-pmi-falls-to-471-in-august.html

2015-08-21T01:45:47+0000

CNBC.com staff

CNBC

The preliminary reading for a key Chinese purchasing managers' index (PMI) fell to a near six-and-a-half-year low of 47.1 in August, below a Reuters forecast of 47.7, underscoring persistent sluggishness in country's vast factory sector. The final Caixin China PMI dropped to a two-year low of 47.8 in July, while the official China PMI avoided falling into contraction territory by coming in at 50 for the month. Caixin's China PMI data tends to focus on smaller and medium-sized companies, filling a niche that isn't covered by the official data. "The Caixin Flash China General Manufacturing PMI for August has fallen further from July's two-year low, indicating that the economy is still in the process of bottoming out," said He Fan, chief economist at Caixin Insight Group. "There is still pressure on maintaining growth rates, and to realize the goal set for this year the government needs to fine tune fiscal and monetary policies to ensure macroeconomic stability and speed up the structural reform," added said. A reading above 50 indicates expanding activity and one below 50 signals contraction. Read MoreCaixin China PMI for July at two-year low A breakdown of the August survey showed both the new orders and new export orders sub-indexes declining at a faster rate than in July – a sign of accelerating weakness in domestic and external demand. Recent data out of the world's second largest economy have signaled weakening growth momentum in the second half of the year. A spate of economic activity data for July published earlier this month - including industrial production, retail sales and fixed asset investment - came in below market expectations, underscoring the People's Bank of China's move to weaken the yuan. Last week, the central bank surprised markets by sharply devaluing the yuan, which the government said was part of reforms meant to make its exchange rate more market-oriented.

cnbc, Articles, Asia Economy, source:tagname:CNBC Asia Source

<div class="group"><p> <span class="st">The preliminary reading for a key Chinese </span><span class="st">purchasing managers' index (PMI) fell to a near six-and-a-half-</span>year low of 47.1 in August, below a Reuters forecast of 47.7, underscoring persistent sluggishness in country's vast factory sector. </p><p> <span class="st">The final Caixin China PMI dropped to a two-year low of </span>47.8 in July, while the official China PMI avoided falling into contraction territory by coming in at 50 for the month. Caixin's China PMI data tends to focus on smaller and medium-sized companies, filling a niche that isn't covered by the official data.</p><div style="height:100%" class="lazyload-placeholder"></div><p> "The Caixin Flash China General Manufacturing PMI for August has fallen further from July's two-year low, indicating that the economy is still in the process of bottoming out," said He Fan, chief economist at Caixin Insight Group.</p><p> "There is still pressure on maintaining growth rates, and to realize the goal set for this year the government needs to fine tune fiscal and monetary policies to ensure macroeconomic stability and speed up the structural reform," added said. </p><p> A reading above 50 indicates expanding activity and one below 50 signals contraction. </p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/08/02/final-caixin-china-pmi-at-478-in-july-two-year-low-below-flash-figure.html">Caixin China PMI for July at two-year low</a><br></p><p> <span>A breakdown of the August survey showed both the new orders and new export orders sub-indexes declining at a faster rate than in July – a sign of accelerating weakness in domestic and external demand. </span><br></p><div style="height:100%" class="lazyload-placeholder"></div><p> Recent data out of the world's second largest economy have signaled weakening growth momentum in the second half of the year.</p><p> A spate of economic activity data for July published earlier this month - including industrial production, retail sales and fixed asset investment - came in below market expectations, underscoring the People's Bank of China's move to weaken the yuan. Last week, the central bank surprised markets by sharply devaluing the yuan, which the government said was part of reforms meant to make its exchange rate more market-oriented. </p></div>,<div class="group"><p>Bill Adams, senior international economist at PNC Financial Services Group, said August's flash PMI reading showed that China was adding to global inflation doldrums.<br></p><p> "At the margin, this additional evidence of China's weakening economy puts downward pressure on global prices of oil, coal, iron ore, steel and other basic materials. China is one more force for weak global inflation in late 2015 and 2016," he said.<br></p><p> Adams expects China's gross domestic product (GDP) growth may slip below 7.0 percent in the second half of 2015. The economy grew an annual 7.0 percent in both the first and second quarter of this year. </p><p> Julian Evans-Pritchard, China economist at Capital Economics, on the other hand, believes downside risks to growth in the short-run are now overstated. </p><p> "Credit growth has begun to accelerate on the back of recent policy easing, which should feed through into stronger activity, albeit with a lag," Evans-Pritchard said.</p><p> "The fiscal stance is also set to loosen in coming months as local governments accelerate spending to hit annual budget targets. Finally, the government still has plenty of policy ammunition and we think they would rather step up policy support rather than allow growth to slip much further," he added.</p></div>

The preliminary reading for a key Chinese purchasing managers' index (PMI) fell to a near six-and-a-half-year low of 47.1 in August, below a Reuters forecast of 47.7, underscoring persistent sluggishness in country's vast factory sector. The final Caixin China PMI dropped to a two-year low of 47.8 in July, while the official China PMI avoided falling into contraction territory by coming in at 50 for the month. Caixin's China PMI data tends to focus on smaller and medium-sized companies, filling a niche that isn't covered by the official data. "The Caixin Flash China General Manufacturing PMI for August has fallen further from July's two-year low, indicating that the economy is still in the process of bottoming out," said He Fan, chief economist at Caixin Insight Group. "There is still pressure on maintaining growth rates, and to realize the goal set for this year the government needs to fine tune fiscal and monetary policies to ensure macroeconomic stability and speed up the structural reform," added said. A reading above 50 indicates expanding activity and one below 50 signals contraction. Read MoreCaixin China PMI for July at two-year low A breakdown of the August survey showed both the new orders and new export orders sub-indexes declining at a faster rate than in July – a sign of accelerating weakness in domestic and external demand. Recent data out of the world's second largest economy have signaled weakening growth momentum in the second half of the year. A spate of economic activity data for July published earlier this month - including industrial production, retail sales and fixed asset investment - came in below market expectations, underscoring the People's Bank of China's move to weaken the yuan. Last week, the central bank surprised markets by sharply devaluing the yuan, which the government said was part of reforms meant to make its exchange rate more market-oriented. Bill Adams, senior international economist at PNC Financial Services Group, said August's flash PMI reading showed that China was adding to global inflation doldrums. "At the margin, this additional evidence of China's weakening economy puts downward pressure on global prices of oil, coal, iron ore, steel and other basic materials. China is one more force for weak global inflation in late 2015 and 2016," he said. Adams expects China's gross domestic product (GDP) growth may slip below 7.0 percent in the second half of 2015. The economy grew an annual 7.0 percent in both the first and second quarter of this year. Julian Evans-Pritchard, China economist at Capital Economics, on the other hand, believes downside risks to growth in the short-run are now overstated. "Credit growth has begun to accelerate on the back of recent policy easing, which should feed through into stronger activity, albeit with a lag," Evans-Pritchard said. "The fiscal stance is also set to loosen in coming months as local governments accelerate spending to hit annual budget targets. Finally, the government still has plenty of policy ammunition and we think they would rather step up policy support rather than allow growth to slip much further," he added.

2021-10-30 14:12:22.517388

Fed holds off, markets now betting on hike in 2016

https://www.cnbc.com/2015/09/17/fed-holds-off-market-moves-bets-on-hike-to-2016.html

2015-09-17T18:38:35+0000

Patti Domm

CNBC

Stocks fluctuated and bonds rallied after the Federal Reserve held off on a first rate hike and said global economic and market developments threaten the U.S. economy. "There is enough economic activity to allow the Fed to think about raising interest rates, but there's not enough inflationary pressure to allow them to do so," said Scott Clemons, chief investment strategist at Brown Brothers Harriman Wealth Management. According to RBS, market expectations for the first full rate hike are now priced into March, and the odds of a December hike fell to 64 percent from 84 percent. Read MoreFed leaves rates unchanged

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<div class="group"><p> Stocks fluctuated and bonds rallied after the Federal Reserve held off on a first rate hike and said global economic and market developments threaten the U.S. economy.</p><p> "There is enough economic activity to allow the <a href="https://www.cnbc.com/2015/03/18/the-federal-reserve-cnbc-explains.html">Fed</a> to think about raising interest rates, but there's not enough inflationary pressure to allow them to do so," said Scott Clemons, chief investment strategist at Brown Brothers Harriman Wealth Management.</p><div style="height:100%" class="lazyload-placeholder"></div><p> According to RBS, market expectations for the first full <a href="https://www.cnbc.com/2015/09/15/just-how-the-fed-will-hike-ratesif-it-does.html">rate hike</a> are now priced into March, and the odds of a December hike fell to 64 percent from 84 percent. </p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/09/17/fed-leaves-rates-unchanged.html">Fed leaves rates unchanged</a></p></div>,<div class="group"><p> "You've taken away the threat of rate hikes," said John Briggs, RBS head of strategy.</p><p> Clemons said the Fed was clearly responding to sluggishness in China but generally pinned it on international developments in its comments. "I think this pushes it off until October. If between now and October, some of these developments abroad to which they refer—China—calm down, I think that will pave the path for an interest rate increase in October. It pushes out the inevitable," said Clemons.</p><p>The Fed raised its <a href="https://www.cnbc.com/2011/11/03/gross-domestic-product-cnbc-explains.html">GDP</a> forecast to 2.1 percent growth in 2015 but cut it for 2016—to 2.3 percent from 2.5 percent. It also lowered 2017 growth to 2.2 percent from 2.3 percent. Its 2015 inflation forecast fell from 0.8 percent in June to 0.4 percent, while 2016 slipped to 1.7 percent from 1.8 percent.</p><div style="height:100%" class="lazyload-placeholder"></div><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/search/?query=Did%20the%20Federal%20Reserve%20make%20the%20right%20decision%20on%20Thursday?">Did the Federal Reserve make the right decision today? </a><br></p><p> The shorter end of the Treasury curve rallied hard, with yields falling in an inverse move. The <!-- --> was yielding 0.72 after holding above 0.80 percent for most of the day.</p><p> Stocks bounced around and briefly turned negative before trading became choppy. The market was slightly higher ahead of Fed Chair <a href="https://www.cnbc.com/janet-yellen/">Janet Yellen</a>'s news briefing at 2:30 p.m. ET, rallied during her remarks and then closed mixed.</p><p> "It just prolongs the uncertainty with which we've been living," said Clemons. When the Fed ultimately raises rates, it will be a positive, he said. "It will take the uncertainty off the table."</p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/search/?query=When%20do%20you%20think%20the%20Federal%20Reserve%20will%20hike%20rates?">When do you think the Federal Reserve will hike rates? </a><br></p><p> Mesirow Financial's chief economist, Diane Swonk, said the most-telling aspect of the Fed release was the downward revisions in its economic forecasts and inflation outlook, signaling real concern about the impact of China and foreign exchange volatility on the U.S. economy.</p><p> Two Fed officials shifted their forecast for a first rate hike into 2016 bringing the total for next year to three. One member wants the first rate hike in 2017, and 13 remained in 2015. "The most important thing here is the doves grew in ranks and their voice got louder than the hawks," she said.<br></p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/09/17/heres-what-changed-in-the-new-fed-statement.html">Here's what changed in the new Fed statement</a><br></p><p> "It's very important we have out there now that the Fed might not move in 2015. It's a probability now much higher than it was before. It was going to be tough to get all their ducks in a row by December. They'll still want to get there, but uncertainty is not something you want to raise rates into," Swonk said.<br></p><p> "Every central bank in the world is ultimately worried about getting inflation too cold or too hot, and right now the porridge is not just right."</p><p>Thursday's Fed decision was one of the most anticipated in years, since there was a reasonable chance the central bank could have raised rates were it not for its concerns about international developments. About half of Wall Street's economists expected a rate hike, even though market expectations were just about 30 percent.</p><p>The Fed last raised rates nine years ago, and it has held the fed funds rate at zero to 0.25 percent since December 2008.</p></div>

Stocks fluctuated and bonds rallied after the Federal Reserve held off on a first rate hike and said global economic and market developments threaten the U.S. economy. "There is enough economic activity to allow the Fed to think about raising interest rates, but there's not enough inflationary pressure to allow them to do so," said Scott Clemons, chief investment strategist at Brown Brothers Harriman Wealth Management. According to RBS, market expectations for the first full rate hike are now priced into March, and the odds of a December hike fell to 64 percent from 84 percent. Read MoreFed leaves rates unchanged "You've taken away the threat of rate hikes," said John Briggs, RBS head of strategy. Clemons said the Fed was clearly responding to sluggishness in China but generally pinned it on international developments in its comments. "I think this pushes it off until October. If between now and October, some of these developments abroad to which they refer—China—calm down, I think that will pave the path for an interest rate increase in October. It pushes out the inevitable," said Clemons.The Fed raised its GDP forecast to 2.1 percent growth in 2015 but cut it for 2016—to 2.3 percent from 2.5 percent. It also lowered 2017 growth to 2.2 percent from 2.3 percent. Its 2015 inflation forecast fell from 0.8 percent in June to 0.4 percent, while 2016 slipped to 1.7 percent from 1.8 percent. Read More Did the Federal Reserve make the right decision today? The shorter end of the Treasury curve rallied hard, with yields falling in an inverse move. The was yielding 0.72 after holding above 0.80 percent for most of the day. Stocks bounced around and briefly turned negative before trading became choppy. The market was slightly higher ahead of Fed Chair Janet Yellen's news briefing at 2:30 p.m. ET, rallied during her remarks and then closed mixed. "It just prolongs the uncertainty with which we've been living," said Clemons. When the Fed ultimately raises rates, it will be a positive, he said. "It will take the uncertainty off the table."Read MoreWhen do you think the Federal Reserve will hike rates? Mesirow Financial's chief economist, Diane Swonk, said the most-telling aspect of the Fed release was the downward revisions in its economic forecasts and inflation outlook, signaling real concern about the impact of China and foreign exchange volatility on the U.S. economy. Two Fed officials shifted their forecast for a first rate hike into 2016 bringing the total for next year to three. One member wants the first rate hike in 2017, and 13 remained in 2015. "The most important thing here is the doves grew in ranks and their voice got louder than the hawks," she said. Read MoreHere's what changed in the new Fed statement "It's very important we have out there now that the Fed might not move in 2015. It's a probability now much higher than it was before. It was going to be tough to get all their ducks in a row by December. They'll still want to get there, but uncertainty is not something you want to raise rates into," Swonk said. "Every central bank in the world is ultimately worried about getting inflation too cold or too hot, and right now the porridge is not just right."Thursday's Fed decision was one of the most anticipated in years, since there was a reasonable chance the central bank could have raised rates were it not for its concerns about international developments. About half of Wall Street's economists expected a rate hike, even though market expectations were just about 30 percent.The Fed last raised rates nine years ago, and it has held the fed funds rate at zero to 0.25 percent since December 2008.

2021-10-30 14:12:22.558079

Trump officials say China pursuing 'blame game' on breakdown of trade talks

https://www.cnbc.com/2019/06/04/trump-officials-say-china-pursuing-blame-game-on-trade-talks-breakdown.html

2019-06-04T01:22:15+0000

CNBC

U.S. President Donald Trump's administration said on Monday that China was pursuing a "blame game" in recent public statements and a weekend white paper that misrepresented the trade negotiations between the world's two largest economies. In a joint statement, the U.S. Trade Representative's (USTR) office and the U.S. Treasury reiterated their view that China's negotiators had "backpedaled" on important elements of a deal that had been largely agreed, including on an enforcement provision. "Our insistence on detailed and enforceable commitments from the Chinese in no way constitutes a threat to Chinese sovereignty," USTR and the Treasury said. "Rather, the issues discussed are common to trade agreements and are necessary to address the systemic issues that have contributed to persistent and unsustainable trade deficits." China on Sunday issued a government policy paper on the U.S.-China trade dispute in which it asserted that the United States bore responsibility for setbacks in the talks, citing three instances in which Washington had backtracked on commitments made during the negotiations. China's Vice Commerce Minister Wang Shouwen, a prominent member of Beijing's negotiating team, said in presenting the paper to the media that it would be impossible for the United States to use "extreme pressure" to force concessions from China. Acrimonious rhetoric between Beijing and Washington has steadily increased since talks broke down in early May over U.S. accusations that Beijing had backtracked on commitments to codify in law changes to its intellectual property and technology transfer practices to address U.S. demands. President Donald Trump imposed an increase in tariffs to 25% on a $200 billion list of Chinese goods on May 10, saying that China "broke the deal." His administration later imposed severe sanctions against Huawei Technologies Co, China's premier telecommunications equipment firm. "The United States is disappointed that the Chinese have chosen in the 'White Paper' issued (on Sunday) and recent public statements to pursue a blame game misrepresenting the nature and history of trade negotiations between the two countries," USTR and Treasury said in the statement. The agencies, which have taken the lead in negotiations for the U.S. side, said that the impetus for the negotiations wasChina's "long history of unfair trade practices," and U.S. negotiating positions have been consistent throughout the talks. There have been no talks scheduled since the last round ended in May, and it remains unclear whether Trump and Chinese President Xi Jinping will meet when they both attend the G20 leaders summit later this month in Japan.

cnbc, Articles, Politics, U.S. Economy, Trade, World economy, Asia Economy, Japan, Xi Jinping, Beijing, Washington, United States, China, Donald Trump, US: News, World Economy, China Economy, US Economy, China Politics, World Politics, source:tagname:Reuters

<div class="group"><p><a href="https://www.cnbc.com/id/10000385">U.S.</a> President <a href="https://www.cnbc.com/donald-trump/">Donald Trump's</a> administration said on Monday that <a href="https://www.cnbc.com/china/">China</a> was pursuing a "blame game" in recent public statements and a weekend white paper that misrepresented the trade negotiations between the world's two largest economies.</p><p> In a joint statement, the U.S. Trade Representative's (USTR) office and the U.S. Treasury reiterated their view that China's negotiators had "backpedaled" on important elements of a deal that had been largely agreed, including on an enforcement provision.</p><div style="height:100%" class="lazyload-placeholder"></div><p> "Our insistence on detailed and enforceable commitments from the Chinese in no way constitutes a threat to Chinese sovereignty," USTR and the Treasury said. "Rather, the issues discussed are common to trade agreements and are necessary to address the systemic issues that have contributed to persistent and unsustainable trade deficits."</p><p> China on Sunday issued a government policy paper on the U.S.-China trade dispute in which it asserted that the United States bore responsibility for setbacks in the talks, citing three instances in which <a href="https://www.cnbc.com/id/10000612">Washington</a> had backtracked on commitments made during the negotiations.</p><p> China's Vice Commerce Minister Wang Shouwen, a prominent member of <a href="https://www.cnbc.com/beijing/">Beijing's</a> negotiating team, said in presenting the paper to the media that it would be impossible for the United States to use "extreme pressure" to force concessions from China.</p><p> Acrimonious rhetoric between Beijing and Washington has steadily increased since talks broke down in early May over U.S. accusations that Beijing had backtracked on commitments to codify in law changes to its intellectual property and technology transfer practices to address U.S. demands.</p><p> President Donald Trump imposed an increase in tariffs to 25% on a $200 billion list of Chinese goods on May 10, saying that China "broke the deal." His administration later imposed severe sanctions against Huawei Technologies Co, China's premier telecommunications equipment firm.</p><div style="height:100%" class="lazyload-placeholder"></div><p> "The United States is disappointed that the Chinese have chosen in the 'White Paper' issued (on Sunday) and recent public statements to pursue a blame game misrepresenting the nature and history of trade negotiations between the two countries," USTR and Treasury said in the statement.</p><p> The agencies, which have taken the lead in negotiations for the U.S. side, said that the impetus for the negotiations was</p><p>China's "long history of unfair trade practices," and U.S. negotiating positions have been consistent throughout the talks.</p><p> There have been no talks scheduled since the last round ended in May, and it remains unclear whether Trump and Chinese President <a href="https://www.cnbc.com/xi-jinping/">Xi Jinping</a> will meet when they both attend the G20 leaders summit later this month in <a href="https://www.cnbc.com/japan/">Japan</a>.</p></div>

U.S. President Donald Trump's administration said on Monday that China was pursuing a "blame game" in recent public statements and a weekend white paper that misrepresented the trade negotiations between the world's two largest economies. In a joint statement, the U.S. Trade Representative's (USTR) office and the U.S. Treasury reiterated their view that China's negotiators had "backpedaled" on important elements of a deal that had been largely agreed, including on an enforcement provision. "Our insistence on detailed and enforceable commitments from the Chinese in no way constitutes a threat to Chinese sovereignty," USTR and the Treasury said. "Rather, the issues discussed are common to trade agreements and are necessary to address the systemic issues that have contributed to persistent and unsustainable trade deficits." China on Sunday issued a government policy paper on the U.S.-China trade dispute in which it asserted that the United States bore responsibility for setbacks in the talks, citing three instances in which Washington had backtracked on commitments made during the negotiations. China's Vice Commerce Minister Wang Shouwen, a prominent member of Beijing's negotiating team, said in presenting the paper to the media that it would be impossible for the United States to use "extreme pressure" to force concessions from China. Acrimonious rhetoric between Beijing and Washington has steadily increased since talks broke down in early May over U.S. accusations that Beijing had backtracked on commitments to codify in law changes to its intellectual property and technology transfer practices to address U.S. demands. President Donald Trump imposed an increase in tariffs to 25% on a $200 billion list of Chinese goods on May 10, saying that China "broke the deal." His administration later imposed severe sanctions against Huawei Technologies Co, China's premier telecommunications equipment firm. "The United States is disappointed that the Chinese have chosen in the 'White Paper' issued (on Sunday) and recent public statements to pursue a blame game misrepresenting the nature and history of trade negotiations between the two countries," USTR and Treasury said in the statement. The agencies, which have taken the lead in negotiations for the U.S. side, said that the impetus for the negotiations wasChina's "long history of unfair trade practices," and U.S. negotiating positions have been consistent throughout the talks. There have been no talks scheduled since the last round ended in May, and it remains unclear whether Trump and Chinese President Xi Jinping will meet when they both attend the G20 leaders summit later this month in Japan.

2021-10-30 14:12:22.662418

China's Lenovo Q2 net profit rises 36%, beats forecasts

https://www.cnbc.com/2013/11/07/chinas-lenovo-q2-net-profit-rises-36-beats-forecasts.html

2013-11-07T05:25:11+0000

CNBC

China's Lenovo Group, the world's number one manufacturer of PCs, said net profit jumped 36 percent in its fiscal second quarter, beating estimates as it continues to chase growth through acquisitions. Lenovo, with a 17.3 percent share of worldwide PC shipments according to research firm IDC, reported net profit of $219.7 million for the July-September period and said it remains confident the Chinese economy is recovering. (Read more: Lenovo-Blackberry deal a worry for Chinese rivals?) Marking more than three straight years of double-digit quarterly profit growth, Lenovo's second-quarter net profit compared with $162 million a year earlier, and a $199.12 million consensus forecast on Thomson Reuters Starmine SmartEstimate. Lenovo has been aggressively pushing into smartphones and servers as it seeks alternative channels of income to the shrinking PC market, which contracted 7.6 percent in the quarter ending September according to IDC data.

cnbc, Articles, Lenovo Group Ltd, Technology, source:tagname:Reuters

<div class="group"><p> China's <a href="//www.cnbc.com/quotes/992-HK" target="_blank">Lenovo Group</a>, the world's number one manufacturer of PCs, said net profit jumped 36 percent in its fiscal second quarter, beating estimates as it continues to chase growth through acquisitions.</p><p> Lenovo, with a 17.3 percent share of worldwide PC shipments according to research firm IDC, reported net profit of $219.7 million for the July-September period and said it remains confident the Chinese economy is recovering.</p><div style="height:100%" class="lazyload-placeholder"></div><p> (<em>Read more</em>: <a href="https://www.cnbc.com/2013/10/18/could-a-lenovo--blackberry-deal-be-a-worry-for-chinese-rivals.html">Lenovo-Blackberry deal a worry for Chinese rivals?</a>)</p><p> Marking more than three straight years of double-digit quarterly profit growth, Lenovo's second-quarter net profit compared with $162 million a year earlier, and a $199.12 million consensus forecast on Thomson Reuters Starmine SmartEstimate.</p><p> Lenovo has been aggressively pushing into smartphones and servers as it seeks alternative channels of income to the shrinking PC market, which contracted 7.6 percent in the quarter ending September according to IDC data.</p></div>

China's Lenovo Group, the world's number one manufacturer of PCs, said net profit jumped 36 percent in its fiscal second quarter, beating estimates as it continues to chase growth through acquisitions. Lenovo, with a 17.3 percent share of worldwide PC shipments according to research firm IDC, reported net profit of $219.7 million for the July-September period and said it remains confident the Chinese economy is recovering. (Read more: Lenovo-Blackberry deal a worry for Chinese rivals?) Marking more than three straight years of double-digit quarterly profit growth, Lenovo's second-quarter net profit compared with $162 million a year earlier, and a $199.12 million consensus forecast on Thomson Reuters Starmine SmartEstimate. Lenovo has been aggressively pushing into smartphones and servers as it seeks alternative channels of income to the shrinking PC market, which contracted 7.6 percent in the quarter ending September according to IDC data.

2021-10-30 14:12:22.982144

After-hours buzz: AIG, CBS, King Digital & more

https://www.cnbc.com/2015/02/12/after-hours-buzz-aig-cbs-king-digital-more.html

2015-02-12T22:09:35+0000

Karma Allen

CNBC

Check out which companies are making headlines after the bell Thursday:

cnbc, Articles, Market Insider, American International Group Inc, Groupon Inc, Zynga Inc, King Digital Entertainment plc, Kraft Foods Group Inc, ViacomCBS Cl B, Conagra Brands Inc, Markets, U.S. Markets, source:tagname:CNBC US Source

<div class="group"><p> <em>Check out which companies are making headlines after the bell </em><em>Thursday:</em></p></div>,<div class="group"><p> <a href="//www.cnbc.com/quotes/AIG" target="_blank">AIG</a> - Shares dipped after the insurance provider reported earnings of <a href="https://www.cnbc.com/2015/02/12/aig-earnings-97-cents-per-share-vs-expected-eps-of-105-per-share.html">97 cents per share, versus expectations of $1.05 per share</a>. The company also announced a $2.5 billion stock repurchase program. </p><div style="height:100%" class="lazyload-placeholder"></div><p> <a href="//www.cnbc.com/quotes/VIAC" target="_blank">CBS</a> - The broadcast company beat expectations and its revenue grew, thanks to increased advertising sales.</p><p> <a href="//www.cnbc.com/quotes/.AD.IXIC" target="_blank">Kraft Foods</a> - Shares of the food producer fell about 1 percent it <!-- -->. </p><p> <a href="//www.cnbc.com/quotes/GRPN" target="_blank">Groupon</a> - Groupon easily topped Wall Street's earnings and revenue expectations, but its forecast for first-quarter results fell short of expectations. Shares of the e-commerce firm fell about 2 percent after the announcement. </p><p> <a href="//www.cnbc.com/quotes/A" target="_blank">King Digital</a> - Shares of the "Candy Crush" maker <!-- --> after it beat expectations on the top and bottom lines. </p><p> <a href="//www.cnbc.com/quotes/ZNGA" target="_blank">Zynga</a> - Shares plunged nearly 10 percent after the gamemaker missed Wall Street revenue and monthly active user estimates. </p><p> <a href="//www.cnbc.com/quotes/CAG" target="_blank">ConAgra Foods</a> - Shares slipped about 3 percent after it announced changes in management and cut its full year 2015 earnings forecasts. </p></div>,<div class="group"></div>

Check out which companies are making headlines after the bell Thursday: AIG - Shares dipped after the insurance provider reported earnings of 97 cents per share, versus expectations of $1.05 per share. The company also announced a $2.5 billion stock repurchase program. CBS - The broadcast company beat expectations and its revenue grew, thanks to increased advertising sales. Kraft Foods - Shares of the food producer fell about 1 percent it . Groupon - Groupon easily topped Wall Street's earnings and revenue expectations, but its forecast for first-quarter results fell short of expectations. Shares of the e-commerce firm fell about 2 percent after the announcement. King Digital - Shares of the "Candy Crush" maker after it beat expectations on the top and bottom lines. Zynga - Shares plunged nearly 10 percent after the gamemaker missed Wall Street revenue and monthly active user estimates. ConAgra Foods - Shares slipped about 3 percent after it announced changes in management and cut its full year 2015 earnings forecasts.

2021-10-30 14:12:23.066931

Layoffs needed because market is changing so rapidly: HP's Whitman

https://www.cnbc.com/2015/09/16/restructuring-needed-because-market-is-changing-so-rapidly-hps-whitman.html

2015-09-16T13:57:24+0000

Tom DiChristopher

CNBC

Hewlett-Packard CEO Meg Whitman said Wednesday the company embarked on another round of layoffs in part because the technology market is changing so rapidly. "It's remarkable what's happening to our services business. As new technologies come in, we've got to restructure that labor force to low-cost locations, to much more automation than we have today," she told CNBC's "Squawk on the Street." On Tuesday, Hewlett-Packard announced it would cut 25,000 to 30,000 positions as part of its restructuring, which will split the company into two separate firms, one focused on enterprise services and one dedicated to its legacy hardware business. The reductions will primarily impact workers at HP Enterprise Services, the company's business and technology services unit. Read More Charts: Chip stocks breaking out? The layoffs come on top of 55,000 cuts announced in recent years and would further reduce Hewlett-Packard's 300,000-person workforce by about 10 percent. The cuts over the last four years were focused on helping HP achieve a cost structure that was in line with its revenue trajectory, Whitman said. The reductions announced Tuesday will help HP expand its profit margins, she added "These cuts are never easy, but it's the right thing to do because we have to now get to the next phase of the HP journey," she said. Whitman will serve as CEO of the services-focused Hewlett-Packard Enterprise when it splits from its hardware business, which will be known as HP Inc, in November. The company expects the layoffs will save about $2.7 billion a year, though Hewlett-Packard said it will take a $2.7 billion charge to carry out the reductions. Some of those costs will begin accruing in the fourth quarter of this year. The company also expects the share of its workers employed overseas in low-cost locations to grow to 60 percent by 2018 from 42 percent today.Read More Tencent's $1.6B plan to take on Alibaba, Amazon in cloud Whitman said the companies would return Hewlett Packard to profit next year following the split. She had previously said that would happen prior to the separation. Asked what makes her confident that growth will happen this time, she identified the separated companies' focus, their "competitive sharpness," and their ability to achieve the right capital structure. "It's hard to forecast in markets that are as changing, as fast as ours, but I think we have a good handle on this now." she said. "We feel really good about our product lineup, our services lineup, and our go-to-market strengths, which I think will stand us in good stead for FY 16."

cnbc, Articles, Technology, Layoffs, HP Inc, Squawk on the Street, source:tagname:CNBC US Source

<div class="group"><p> <a href="//www.cnbc.com/quotes/HPQ" target="_blank">Hewlett-Packard</a> CEO Meg Whitman said Wednesday the company embarked on another round of layoffs in part because the technology market is changing so rapidly.</p><p> "It's remarkable what's happening to our services business. As new technologies come in, we've got to restructure that labor force to low-cost locations, to much more automation than we have today," she told CNBC's <a href="https://www.cnbc.com/squawk-on-the-street/">"Squawk on the Street."</a></p><div style="height:100%" class="lazyload-placeholder"></div><p> On Tuesday, Hewlett-Packard announced it would <a href="https://www.cnbc.com/2015/09/15/up-to-30k-people-will-leave-hp-as-part-of-enterprise-spinoff.html">cut 25,000 to 30,000 positions</a> as part of its restructuring, which will split the company into two separate firms, one focused on enterprise services and one dedicated to its legacy hardware business.</p><p> The reductions will primarily impact workers at HP Enterprise Services, the company's business and technology services unit.</p><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/2015/09/15/charts-chip-stocks-breaking-out.html">Charts: Chip stocks breaking out?</a><br></p><p> The layoffs come on top of 55,000 cuts announced in recent years and would further reduce Hewlett-Packard's 300,000-person workforce by about 10 percent. <br></p><p> The cuts over the last four years were focused on helping HP achieve a cost structure that was in line with its revenue trajectory, Whitman said. The reductions announced Tuesday will help HP expand its profit margins, she added</p><div style="height:100%" class="lazyload-placeholder"></div><p> "These cuts are never easy, but it's the right thing to do because we have to now get to the next phase of the HP journey," she said.</p><p> Whitman will serve as CEO of the services-focused Hewlett-Packard Enterprise when it splits from its hardware business, which will be known as HP Inc, in November.</p><p> The company expects the layoffs will save about $2.7 billion a year, though Hewlett-Packard said it will take a $2.7 billion charge to carry out the reductions. Some of those costs will begin accruing in the fourth quarter of this year.<br></p><p> The company also expects the share of its workers employed overseas in low-cost locations to grow to 60 percent by 2018 from 42 percent today.</p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/09/16/tencents-16b-plan-to-take-on-alibaba-amazon-in-cloud.html"> Tencent's $1.6B plan to take on Alibaba, Amazon in cloud</a><br></p><p> Whitman said the companies would return Hewlett Packard to profit next year following the split. She had previously said that would happen prior to the separation.</p><p> Asked what makes her confident that growth will happen this time, she identified the separated companies' focus, their "competitive sharpness," and their ability to achieve the right capital structure.</p><p> "It's hard to forecast in markets that are as changing, as fast as ours, but I think we have a good handle on this now." she said. "We feel really good about our product lineup, our services lineup, and our go-to-market strengths, which I think will stand us in good stead for FY 16."</p></div>,<div class="group"></div>

Hewlett-Packard CEO Meg Whitman said Wednesday the company embarked on another round of layoffs in part because the technology market is changing so rapidly. "It's remarkable what's happening to our services business. As new technologies come in, we've got to restructure that labor force to low-cost locations, to much more automation than we have today," she told CNBC's "Squawk on the Street." On Tuesday, Hewlett-Packard announced it would cut 25,000 to 30,000 positions as part of its restructuring, which will split the company into two separate firms, one focused on enterprise services and one dedicated to its legacy hardware business. The reductions will primarily impact workers at HP Enterprise Services, the company's business and technology services unit. Read More Charts: Chip stocks breaking out? The layoffs come on top of 55,000 cuts announced in recent years and would further reduce Hewlett-Packard's 300,000-person workforce by about 10 percent. The cuts over the last four years were focused on helping HP achieve a cost structure that was in line with its revenue trajectory, Whitman said. The reductions announced Tuesday will help HP expand its profit margins, she added "These cuts are never easy, but it's the right thing to do because we have to now get to the next phase of the HP journey," she said. Whitman will serve as CEO of the services-focused Hewlett-Packard Enterprise when it splits from its hardware business, which will be known as HP Inc, in November. The company expects the layoffs will save about $2.7 billion a year, though Hewlett-Packard said it will take a $2.7 billion charge to carry out the reductions. Some of those costs will begin accruing in the fourth quarter of this year. The company also expects the share of its workers employed overseas in low-cost locations to grow to 60 percent by 2018 from 42 percent today.Read More Tencent's $1.6B plan to take on Alibaba, Amazon in cloud Whitman said the companies would return Hewlett Packard to profit next year following the split. She had previously said that would happen prior to the separation. Asked what makes her confident that growth will happen this time, she identified the separated companies' focus, their "competitive sharpness," and their ability to achieve the right capital structure. "It's hard to forecast in markets that are as changing, as fast as ours, but I think we have a good handle on this now." she said. "We feel really good about our product lineup, our services lineup, and our go-to-market strengths, which I think will stand us in good stead for FY 16."

2021-10-30 14:12:23.218608

Germany Should Have Ratings Cut to Save Euro: Strategist

https://www.cnbc.com/2011/07/20/germany-should-have-ratings-cut-to-save-euro-strategist.html

2011-07-20T09:03:50+0000

Catherine Boyle

CNBC

Germany, the euro zone's largest economy, should be prepared to take a downgrade to its AAA-rated debt to help save the single currency area, Charles Diebel, head of market strategy at Lloyds, told CNBC Wednesday.

cnbc, Articles, Business News, Economy, World Economy, Europe News, European Union, source:tagname:CNBC US Source

<div class="group"><p>Germany, the euro zone's largest economy, should be prepared to take a downgrade to its AAA-rated debt to help save the single currency area, Charles Diebel, head of market strategy at <strong>Lloyds</strong>, told CNBC Wednesday. </p></div>,<div class="group"><p>"You have joined this club, and you had to realise there was a liability that went with it," he said. "Germany should really be doing a cost-benefit analysis of what it costs them not to help."</p><div style="height:100%" class="lazyload-placeholder"></div><p>A break-up of the euro zone would be a "cataclysmic scenario" while a downgrade of Germany's AAA-related debt one notch would only mean a 30-50 basis points cut to its credit swaps, according to the Lloyds strategist. </p><p>"That's a lot better than your entire banking system getting into trouble from a break- up of the euro," he said. "If you look at where European swaps are trading, that's effectively a proxy for the Bund anyway." </p></div>,<div class="group"><p>EU leaders will meet Thursday to discuss the Greek debt crisis, with German Chancellor Angela Merkel and French President Nicolas Sarkozy meeting on Wednesday. Merkel has warned that there is "not one spectacular result that will solve all problems". </p><p>John M. Hydeskov, chief analyst at <strong>Danske Markets</strong>, said Nordic banks came particularly strongly out of the recent stress tests as Danske ran a harsher stress test over the Nordic banks which were put through the EBA stress tests. </p><p>"Markets have been impatient for quite a long time," Hydeskov told CNBC Wednesday. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Some of the smaller, steadier European economies, such as Holland, Finland and Austria, are worth investing in, according to Diebel. The current Italian and Spanish yields "are not justified by the fundamental factors", Hydeskov said. </p><p>"If you look at the private sector wealth in Italy it's pretty impressive," he said. The strength of domestic investment in Italy, where around half of government bonds are held by the domestic market, is viewed by many as strength relative to Greece and other peripheral euro zone economies. </p><p>"You can control the domestic market to some extent," Hydeskov added. </p><p>He said that domestic Italian investors were unlikely to suddenly switch from bonds, as "now is not the time to switch investment strategy". </p></div>

Germany, the euro zone's largest economy, should be prepared to take a downgrade to its AAA-rated debt to help save the single currency area, Charles Diebel, head of market strategy at Lloyds, told CNBC Wednesday. "You have joined this club, and you had to realise there was a liability that went with it," he said. "Germany should really be doing a cost-benefit analysis of what it costs them not to help."A break-up of the euro zone would be a "cataclysmic scenario" while a downgrade of Germany's AAA-related debt one notch would only mean a 30-50 basis points cut to its credit swaps, according to the Lloyds strategist. "That's a lot better than your entire banking system getting into trouble from a break- up of the euro," he said. "If you look at where European swaps are trading, that's effectively a proxy for the Bund anyway." EU leaders will meet Thursday to discuss the Greek debt crisis, with German Chancellor Angela Merkel and French President Nicolas Sarkozy meeting on Wednesday. Merkel has warned that there is "not one spectacular result that will solve all problems". John M. Hydeskov, chief analyst at Danske Markets, said Nordic banks came particularly strongly out of the recent stress tests as Danske ran a harsher stress test over the Nordic banks which were put through the EBA stress tests. "Markets have been impatient for quite a long time," Hydeskov told CNBC Wednesday. Some of the smaller, steadier European economies, such as Holland, Finland and Austria, are worth investing in, according to Diebel. The current Italian and Spanish yields "are not justified by the fundamental factors", Hydeskov said. "If you look at the private sector wealth in Italy it's pretty impressive," he said. The strength of domestic investment in Italy, where around half of government bonds are held by the domestic market, is viewed by many as strength relative to Greece and other peripheral euro zone economies. "You can control the domestic market to some extent," Hydeskov added. He said that domestic Italian investors were unlikely to suddenly switch from bonds, as "now is not the time to switch investment strategy".

2021-10-30 14:12:23.252368

After-hours movers: Disney, Aeropostale & more

https://www.cnbc.com/2014/12/03/after-hours-movers-disney-guess-fluor-more.html

2014-12-03T21:52:13+0000

Evelyn Cheng

CNBC

Take a look at some of Wednesday's after-hours movers: Disney gained in extended-hours trade on news that the company will increase its annual cash dividend by 34 percent, to $1.15 a share, payable on Jan. 8, 2015, to eligible shareholders. Aeropostale fell more than 9 percent in after-hours trade after the teen retailer posted a loss for the eighth straight quarter, hurt by slower mall traffic, higher discounts and lower demand for its clothing. Guess edged lower before turning slightly higher in extended-hours trade after posting third-quarter results that showed a decrease in revenues around the world and a weaker full-year outlook. PVH, whose brands include Calvin Klein and Tommy Hilfiger, fell more than 1 percent in extended-hours trade on weak guidance. Fluor edged higher in after-hours trade on the engineering and construction firm's announcement that ICA Fluor, its joint venture with Mexican infrastructure firm Empresas ICA, won a $1.3 billion contract to expand a refinery in Mexico. Avago Technologies gained more than 5 percent in extended-hours trade after the Singapore-based chipmaker posted fourth-quarter earnings that beat expectations. Verint Systems fell more than 3 percent in after-hours trade when the software firm narrowed its full-year revenue outlook.Wires contributed to this report.

cnbc, Articles, Market Insider, Walt Disney Co, Aeropostale Inc, GUESS? Inc, PVH Corp, Fluor Corp, Avago Technologies Ltd, Verint Systems Inc, Markets, U.S. Markets, source:tagname:CNBC US Source

<div class="group"><p> <em>Take a look at some of Wednesday's after-hours movers:</em></p><p> <a href="//www.cnbc.com/quotes/DIS" target="_blank">Disney</a> gained in extended-hours trade on news that the company will increase its annual cash dividend by 34 percent, to $1.15 a share, payable on Jan. 8, 2015, to eligible shareholders.</p><div style="height:100%" class="lazyload-placeholder"></div><p> <a href="//www.cnbc.com/quotes/ABBV" target="_blank">Aeropostale</a> fell more than 9 percent in after-hours trade after the teen retailer posted a loss for the eighth straight quarter, hurt by slower mall traffic, higher discounts and lower demand for its clothing.</p><p> <a href="//www.cnbc.com/quotes/GES" target="_blank">Guess</a> edged lower before turning slightly higher in extended-hours trade after posting third-quarter results that showed a decrease in revenues around the world and a weaker full-year outlook.</p><p> <a href="//www.cnbc.com/quotes/PVH" target="_blank">PVH</a>, whose brands include Calvin Klein and Tommy Hilfiger, fell more than 1 percent in extended-hours trade on weak guidance.</p><p> <a href="//www.cnbc.com/quotes/FLR" target="_blank">Fluor</a> edged higher in after-hours trade on the engineering and construction firm's announcement that ICA Fluor, its joint venture with Mexican infrastructure firm Empresas ICA, won a $1.3 billion contract to expand a refinery in Mexico.</p><p> <a href="//www.cnbc.com/quotes/AVGO" target="_blank">Avago Technologies</a> gained more than 5 percent in extended-hours trade after the Singapore-based chipmaker posted fourth-quarter earnings that beat expectations.</p><div style="height:100%" class="lazyload-placeholder"></div><p> <a href="//www.cnbc.com/quotes/VRNT" target="_blank">Verint Systems</a> fell more than 3 percent in after-hours trade when the software firm narrowed its full-year revenue outlook.</p><p><em>Wires contributed to this report.</em></p></div>

Take a look at some of Wednesday's after-hours movers: Disney gained in extended-hours trade on news that the company will increase its annual cash dividend by 34 percent, to $1.15 a share, payable on Jan. 8, 2015, to eligible shareholders. Aeropostale fell more than 9 percent in after-hours trade after the teen retailer posted a loss for the eighth straight quarter, hurt by slower mall traffic, higher discounts and lower demand for its clothing. Guess edged lower before turning slightly higher in extended-hours trade after posting third-quarter results that showed a decrease in revenues around the world and a weaker full-year outlook. PVH, whose brands include Calvin Klein and Tommy Hilfiger, fell more than 1 percent in extended-hours trade on weak guidance. Fluor edged higher in after-hours trade on the engineering and construction firm's announcement that ICA Fluor, its joint venture with Mexican infrastructure firm Empresas ICA, won a $1.3 billion contract to expand a refinery in Mexico. Avago Technologies gained more than 5 percent in extended-hours trade after the Singapore-based chipmaker posted fourth-quarter earnings that beat expectations. Verint Systems fell more than 3 percent in after-hours trade when the software firm narrowed its full-year revenue outlook.Wires contributed to this report.

2021-10-30 14:12:23.293147

First Solar Down After Short-Seller Comments

https://www.cnbc.com/2011/04/14/first-solar-down-after-shortseller-comments.html

2011-04-14T15:32:26+0000

Margo Beller

CNBC

First Solar shares fell after short-seller James Chanos said insider stock selling and executives leaving the company is "never a good combination.""You are seeing patterns that short sellers love," the president of Kynokos Associates told CNBC Thursday.  "There's been enormous insider selling. The chairman has gotten rid of most of his stock in the last year and a half. And lots of people are leaving."Shorting is selling assets, usually securities, that have been borrowed from a third party with the intention of buying identical assets back at a later date to return to the lender. Short sellers like Chanos want to profit from a decline in the price of the assets between the sale and the repurchase.

cnbc, Articles, First Solar Inc, Business News, Economy, US Economy, US: News, source:tagname:CNBC US Source

<div class="group"><p>First Solar shares fell after short-seller James Chanos said insider stock selling and executives leaving the company is "never a good combination."</p><p>"You are seeing patterns that short sellers love," the president of <strong>Kynokos Associates </strong>told CNBC Thursday.  "There's been enormous insider selling. The chairman has gotten rid of most of his stock in the last year and a half. And lots of people are leaving."</p><div style="height:100%" class="lazyload-placeholder"></div><p>Shorting is selling assets, usually securities, that have been borrowed from a third party with the intention of buying identical assets back at a later date to return to the lender. Short sellers like Chanos want to profit from a decline in the price of the assets between the sale and the repurchase.</p></div>,<div class="group"><p>He is short alternative energy in general, he said. Some companies, such as First Solar, have specific issues while others are affected by cuts in solar development subsidies in Germany, Italy and Spain. The Japanese nuclear disaster helped solar stocks a bit, he said, but solar is still a costly way to provide energy compared with natural gas and nuclear power.</p><p>"You still need core power plants," he said.</p><p>He is also shorting Chinese residential real estate companies because he sees prices dropping in the major cities and building activity declining rather than accelerating. </p></div>

First Solar shares fell after short-seller James Chanos said insider stock selling and executives leaving the company is "never a good combination.""You are seeing patterns that short sellers love," the president of Kynokos Associates told CNBC Thursday.  "There's been enormous insider selling. The chairman has gotten rid of most of his stock in the last year and a half. And lots of people are leaving."Shorting is selling assets, usually securities, that have been borrowed from a third party with the intention of buying identical assets back at a later date to return to the lender. Short sellers like Chanos want to profit from a decline in the price of the assets between the sale and the repurchase.He is short alternative energy in general, he said. Some companies, such as First Solar, have specific issues while others are affected by cuts in solar development subsidies in Germany, Italy and Spain. The Japanese nuclear disaster helped solar stocks a bit, he said, but solar is still a costly way to provide energy compared with natural gas and nuclear power."You still need core power plants," he said.He is also shorting Chinese residential real estate companies because he sees prices dropping in the major cities and building activity declining rather than accelerating.

2021-10-30 14:12:23.623135

Ad shift from TV to digital will speed up even more because of coronavirus, Goldman Sachs says

https://www.cnbc.com/2020/05/26/coronavirus-ad-shift-from-tv-to-digital-will-speed-up-says-goldman.html

2020-05-26T15:21:01+0000

Lucy Handley

CNBC

Ad budgets were already shifting from TV to digital before the coronavirus pandemic, but that's going to speed up, according to a Europe-focused report by Goldman Sachs."Overall, we expect the crisis will only accelerate the secular shift in advertising budgets towards digital, while potentially also leading to more attempts by the EU broadcasters to seek further partnerships and M&A (mergers and acquisitions) to share costs and build scale," according to the company's Europe Media: Broadcasting report, seen by CNBC.Brands are able to measure the impact of online ads more easily than those on TV, and digital ads tend to be cheaper — and it appears the pandemic has had more of an impact on TV ad revenue than digital. TV ad revenue in Europe was down by about 50% in April, while the results of the major digital players were generally above expectations, Goldman noted. Google search revenue was "down mid-teens," while Facebook's revenue growth for the first three weeks of April was flat and Snap's went up 15% in April, the report added.A separate report from the World Advertising Research Center (WARC) showed that global marketing budgets for digital advertising in April fell for the first time since WARC started tracking spend in 2012. Advertising in printed newspapers and magazines saw the steepest declines followed by outdoor billboards, radio and TV.

cnbc, Articles, Media, Mediaset NV, Metropole Television SA, Television Francaise 1 SA, RTL Group SA, Prosiebensat 1 Media SE, ITV PLC, Snap Inc, Meta Platforms Inc, Alphabet Class A, Goldman Sachs Group Inc, Advertising, Facebook, Google, Television, Online media, CNBC TV, Europe: Television, Marketing.Media.Money, source:tagname:CNBC Europe Source

<div class="group"><p>Ad budgets were already <a href="https://www.cnbc.com/2019/10/24/global-ad-spend-has-slowed-but-2020-looks-set-to-be-a-bumper-year.html">shifting from TV to digital</a> before the coronavirus pandemic, but that's going to speed up, according to a Europe-focused report by <a href="//www.cnbc.com/quotes/GS" target="_blank">Goldman Sachs</a>.</p><p>"Overall, we expect the crisis will only accelerate the secular shift in advertising budgets towards digital, while potentially also leading to more attempts by the EU broadcasters to seek further partnerships and M&amp;A (mergers and acquisitions) to share costs and build scale," according to the company's Europe Media: Broadcasting report, seen by CNBC.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Brands are able to <a href="https://www.cnbc.com/2020/05/15/upfronts-canceled-tv-ad-commitments-plummeting.html">measure the impact</a> of online ads more easily than those on TV, and digital ads tend to be cheaper — and it appears the pandemic has had more of an impact on TV ad revenue than digital. TV ad revenue in Europe was down by about 50% in April, while the results of the major digital players were generally above expectations, Goldman noted. <a href="//www.cnbc.com/quotes/GOOGL" target="_blank">Google</a> search revenue was "down mid-teens," while <a href="//www.cnbc.com/quotes/FB" target="_blank">Facebook</a>'s revenue growth for the first three weeks of April was flat and <a href="//www.cnbc.com/quotes/SNAP" target="_blank">Snap</a>'s went up 15% in April, the report added.</p><p>A separate report from the World Advertising Research Center (WARC) showed that global marketing budgets for digital advertising in April fell for the first time since WARC started tracking spend in 2012. Advertising in printed newspapers and magazines saw the steepest declines followed by outdoor billboards, radio and TV.</p></div>,<div class="group"><p>Advertising is typically one of the first things businesses cut back on during recessions and this year's TV Upfronts in the U.S., where broadcast networks woo marketers, have been <a href="https://www.cnbc.com/2020/05/15/upfronts-canceled-tv-ad-commitments-plummeting.html">delayed indefinitely</a>. Many of the companies surveyed in a report by consultancy Advertiser Perceptions said they could replace the reach of traditional TV ads with those in streaming services or via digital video ads.</p><p>A lack of demand for media buys has also made ad spots cheaper, according to WARC data. For example, the cost of digital video ads was forecast to go up by 6.7% globally by media audit company ECI Media Management but is only likely to increase by 1.3%, per WARC.</p></div>,<div class="group"><p> In terms of recovery, ad spend has historically shown a good relationship with economic growth, Goldman noted, with every 1% change to GDP usually translating to ad revenue growth going up two to three times.</p><div style="height:100%" class="lazyload-placeholder"></div><p>However, the post-pandemic recovery is likely to be less significant than the one after the 2008-2009 recession. The global TV ad market grew 14% in 2010 after a 7% decline in 2009 per figures from Magna Global, and Goldman expects European broadcasters to see growth of only 6% after an 18% decline this year.</p><p>Broadcasters are also likely to be more open to partnerships and M&amp;A, Goldman noted, with Italian broadcaster <a href="//www.cnbc.com/quotes/MS-IT" target="_blank">Mediaset</a> set to <a href="https://uk.reuters.com/article/uk-prosieben-media-m-a-mediaset/mediaset-free-to-raise-stake-in-prosieben-german-watchdog-idUKKCN21X1U1" target="_blank">acquire a 25% stake in Germany's ProSieben</a> this year, for example. The report's authors also expect more partnerships in streaming services — in the U.K., <a href="//www.cnbc.com/quotes/ITV-GB" target="_blank">ITV</a> and the BBC launched Britbox in November.</p><p>Broadcast stocks were the worst-performing sector in the European media market according to Goldman's report, down 41% on average year-to-date. This compares to a 27% decline for companies in the STOXX 600 Media, an index of European stocks.</p><p>Goldman expects net annualized returns to decline between 30% and 50% for European broadcasters in the second quarter, with French channels including <a href="//www.cnbc.com/quotes/TFI-FR" target="_blank">TF1</a> and <a href="//www.cnbc.com/quotes/MMT-FR" target="_blank">M6</a> decreasing the most, and German broadcasters <a href="//www.cnbc.com/quotes/RRTL-DE" target="_blank">RTL</a> and <a href="//www.cnbc.com/quotes/PSM-DE" target="_blank">ProSieben</a> being impacted the least.</p></div>

Ad budgets were already shifting from TV to digital before the coronavirus pandemic, but that's going to speed up, according to a Europe-focused report by Goldman Sachs."Overall, we expect the crisis will only accelerate the secular shift in advertising budgets towards digital, while potentially also leading to more attempts by the EU broadcasters to seek further partnerships and M&A (mergers and acquisitions) to share costs and build scale," according to the company's Europe Media: Broadcasting report, seen by CNBC.Brands are able to measure the impact of online ads more easily than those on TV, and digital ads tend to be cheaper — and it appears the pandemic has had more of an impact on TV ad revenue than digital. TV ad revenue in Europe was down by about 50% in April, while the results of the major digital players were generally above expectations, Goldman noted. Google search revenue was "down mid-teens," while Facebook's revenue growth for the first three weeks of April was flat and Snap's went up 15% in April, the report added.A separate report from the World Advertising Research Center (WARC) showed that global marketing budgets for digital advertising in April fell for the first time since WARC started tracking spend in 2012. Advertising in printed newspapers and magazines saw the steepest declines followed by outdoor billboards, radio and TV.Advertising is typically one of the first things businesses cut back on during recessions and this year's TV Upfronts in the U.S., where broadcast networks woo marketers, have been delayed indefinitely. Many of the companies surveyed in a report by consultancy Advertiser Perceptions said they could replace the reach of traditional TV ads with those in streaming services or via digital video ads.A lack of demand for media buys has also made ad spots cheaper, according to WARC data. For example, the cost of digital video ads was forecast to go up by 6.7% globally by media audit company ECI Media Management but is only likely to increase by 1.3%, per WARC. In terms of recovery, ad spend has historically shown a good relationship with economic growth, Goldman noted, with every 1% change to GDP usually translating to ad revenue growth going up two to three times.However, the post-pandemic recovery is likely to be less significant than the one after the 2008-2009 recession. The global TV ad market grew 14% in 2010 after a 7% decline in 2009 per figures from Magna Global, and Goldman expects European broadcasters to see growth of only 6% after an 18% decline this year.Broadcasters are also likely to be more open to partnerships and M&A, Goldman noted, with Italian broadcaster Mediaset set to acquire a 25% stake in Germany's ProSieben this year, for example. The report's authors also expect more partnerships in streaming services — in the U.K., ITV and the BBC launched Britbox in November.Broadcast stocks were the worst-performing sector in the European media market according to Goldman's report, down 41% on average year-to-date. This compares to a 27% decline for companies in the STOXX 600 Media, an index of European stocks.Goldman expects net annualized returns to decline between 30% and 50% for European broadcasters in the second quarter, with French channels including TF1 and M6 decreasing the most, and German broadcasters RTL and ProSieben being impacted the least.

2021-10-30 14:12:23.663302

Lasry: Europe could face Japan-style deflation era

https://www.cnbc.com/2015/01/08/lasry-europe-could-face-japan-style-deflation-era.html

2015-01-08T16:06:28+0000

Tom DiChristopher

CNBC

Europe could be looking at a Japan-style deflationary environment for the next five years, investor Marc Lasry told CNBC on Wednesday. Read MoreEuro tests low last seen at its birth in1999 Lasry's Avenue Capital is continuing to buy credit-side debt at a discount in Europe. Over the last three or four years, the amount of debt that European banks have sold has increased by 100 percent, he said in a "Squawk Box" interview. "The way that the banks were able to sell this debt is, they keep on buying sovereign debt, and then through that they make their profits, and then each year they end up using those profits to offset losses on that. And that's sort of of what happened in Japan over a 10 year period," said Lasry, who specializes in distressed debt investments. Read More Can cash-strapped Europe prevent terrorism surge? The way for Europe to avoid a deflationary period is to clock 4 to 5 percent GDP growth, he said. "You're not having that. The reason everybody focuses on that is because GDP growth in Europe today is sort of, negative one, flat, up one. It's really not moving that much," he said. The chairman and CEO of Avenue Capital said his firm is playing the credit side of the European debt market because the pressure is still on the banks to deleverage. "This is sort of a five year process, so for us it's going to be the gift that keeps on giving," he said. Lasry is personally invested in Greek debt, but Avenue Capital does not buy sovereign bonds, he said. Read More Should markets fear Greece's radical Syriza party? Europe is still in an investing phase because there is $2.5 trillion of debt, he said. "The supply side in Europe is still so great relative to the demand side in Europe," he added.

cnbc, Articles, World Markets, Bonds, Markets, Corporate bonds, Investment strategy, Corporate Debt, Investing, Credit and Debt, Squawk on the Street, Market Outlook, Europe Economy, source:tagname:CNBC US Source

<div class="group"><p> Europe could be looking at a Japan-style deflationary environment for the next five years, investor Marc Lasry told CNBC on Wednesday.</p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/01/08/euro-tests-low-last-seen-at-its-birth-in-1999.html">Euro tests low last seen at its birth in<span class="cnbc-nobr">1999</span></a><br></p><div style="height:100%" class="lazyload-placeholder"></div><p> Lasry's Avenue Capital is continuing to buy credit-side debt at a discount in Europe. Over the last three or four years, the amount of debt that European banks have sold has increased by 100 percent, he <span>said in a </span><a href="https://www.cnbc.com/squawk-on-the-street/">"Squawk Box"</a><span> interview</span><span>. </span></p><p> "The way that the banks were able to sell this debt is, they keep on buying sovereign debt, and then through that they make their profits, and then each year they end up using those profits to offset losses on that. And that's sort of of what happened in Japan over a 10 year period," said Lasry, who specializes in distressed debt investments. </p><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/2015/01/08/can-cash-strapped-europe-prevent-terrorism-surge.html">Can cash-strapped Europe prevent terrorism surge?</a><br></p><p> The way for Europe to avoid a deflationary period is to clock 4 to 5 percent GDP growth, he said. </p><p> "You're not having that. The reason everybody focuses on that is because GDP growth in Europe today is sort of, negative one, flat, up one. It's really not moving that much," he said.</p><div style="height:100%" class="lazyload-placeholder"></div><p> The chairman and CEO of Avenue Capital said his firm is playing the credit side of the European debt market because the pressure is still on the banks to deleverage. "This is sort of a five year process, so for us it's going to be the gift that keeps on giving," he said.</p><p> Lasry is personally invested in Greek debt, but Avenue Capital does not buy sovereign bonds, he said.</p><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/2015/01/08/should-markets-fear-greeces-radical-syriza-party.html">Should markets fear Greece's radical Syriza party?</a><br></p><p> Europe is still in an investing phase because there is $2.5 trillion of debt, he said. "The supply side in Europe is still so great relative to the demand side in Europe," he added.</p></div>,<div class="group"><p><br></p></div>

Europe could be looking at a Japan-style deflationary environment for the next five years, investor Marc Lasry told CNBC on Wednesday. Read MoreEuro tests low last seen at its birth in1999 Lasry's Avenue Capital is continuing to buy credit-side debt at a discount in Europe. Over the last three or four years, the amount of debt that European banks have sold has increased by 100 percent, he said in a "Squawk Box" interview. "The way that the banks were able to sell this debt is, they keep on buying sovereign debt, and then through that they make their profits, and then each year they end up using those profits to offset losses on that. And that's sort of of what happened in Japan over a 10 year period," said Lasry, who specializes in distressed debt investments. Read More Can cash-strapped Europe prevent terrorism surge? The way for Europe to avoid a deflationary period is to clock 4 to 5 percent GDP growth, he said. "You're not having that. The reason everybody focuses on that is because GDP growth in Europe today is sort of, negative one, flat, up one. It's really not moving that much," he said. The chairman and CEO of Avenue Capital said his firm is playing the credit side of the European debt market because the pressure is still on the banks to deleverage. "This is sort of a five year process, so for us it's going to be the gift that keeps on giving," he said. Lasry is personally invested in Greek debt, but Avenue Capital does not buy sovereign bonds, he said. Read More Should markets fear Greece's radical Syriza party? Europe is still in an investing phase because there is $2.5 trillion of debt, he said. "The supply side in Europe is still so great relative to the demand side in Europe," he added.

2021-10-30 14:12:23.851551

Could China's Bird Flu Be the Next SARS?

https://www.cnbc.com/2013/04/18/could-chinas-bird-flu-be-the-next-sars.html

2013-04-18T07:45:26+0000

Katie Holliday

CNBC

As the death toll from a deadly strain of bird flu in China rises to 17, China watchers say they are closely following Beijing's handling of the outbreak although officials appear to have learned a trick or two from the SARS crisis a decade ago. Eight fresh cases of the H7N9 bird flu virus have been reported in the eastern provinces of China this week, bringing the total figure of those infected to 82, Reuters reported. China is also investigating the possibility of human-to-human transmission of bird flu, a top Chinese health official was quoted as saying on Thursday. Some analysts are drawing parallels with the outbreak of severe acute respiratory syndrome (SARS) between 2002 and 2003, which damaged international trade between China and other countries and led to the virtual shut down of Beijing, China's capital city. If the bird flu epidemic accelerates in a similar fashion, investor sentiment could be severely damaged, said one analyst. "The obvious benchmark is SARS. That was a catastrophe and the Chinese government learnt a lot of lessons from that," said Tim Condon, head of research for Asia at ING Financial Markets. "At the moment the bird flu outbreak appears to be under control, but if it turns out to be much more virulent than expected you could see the same sort of reaction as we saw to SARS," he said. The outbreak of SARS, a viral respiratory disease spread between humans, in South China and Hong Kong between the end of 2002 and the summer of 2003, affected around 8,000 and led to more than 700 deaths, according to the World Health Organization. Beijing was criticized at the time for its handling of the outbreak and downplaying the crisis, which led to panic and hurt China's economy. (Read More: )

cnbc, Articles, Asia News, Southeast Asia, Yum! Brands Inc, Business News, source:tagname:CNBC Asia Source

<div class="group"><p> As the death toll from a deadly strain of bird flu in China rises to 17, China watchers say they are closely following Beijing's handling of the outbreak although officials appear to have learned a trick or two from the SARS crisis a decade ago.</p><p> Eight fresh cases of the H7N9 bird flu virus have been reported in the eastern provinces of China this week, bringing the total figure of those infected to 82, Reuters reported. China is also investigating the possibility of human-to-human transmission of bird flu, a top Chinese health official was quoted as saying on Thursday.</p><div style="height:100%" class="lazyload-placeholder"></div><p> Some analysts are drawing parallels with the outbreak of severe acute respiratory syndrome (SARS) between 2002 and 2003, which damaged international trade between China and other countries and led to the virtual shut down of Beijing, China's capital city.</p><p> If the bird flu epidemic accelerates in a similar fashion, investor sentiment could be severely damaged, said one analyst.</p><p> "The obvious benchmark is SARS. That was a catastrophe and the Chinese government learnt a lot of lessons from that," said Tim Condon, head of research for Asia at ING Financial Markets.</p><p> "At the moment the bird flu outbreak appears to be under control, but if it turns out to be much more virulent than expected you could see the same sort of reaction as we saw to SARS," he said.</p><p> The outbreak of SARS, a viral respiratory disease spread between humans, in South China and Hong Kong between the end of 2002 and the summer of 2003, affected around 8,000 and led to more than 700 deaths, according to the World Health Organization. Beijing was criticized at the time for its handling of the outbreak and downplaying the crisis, which led to panic and hurt China's economy.</p><div style="height:100%" class="lazyload-placeholder"></div><p> (<em>Read More</em>: <!-- -->) </p></div>,<div class="group"><p> <strong>All About Confidence </strong></p><p> Since the fresh strain of bird flu first emerged a few weeks ago China has slaughtered thousands of birds and closed some live poultry markets. <a href="//www.cnbc.com/quotes/YUM" target="_blank">YUM Brands</a>, which runs the popular KFC brand in China, has said its March sales in its China restaurants fell 13 percent because of bird flu worries.</p><p> (<em>Read More</em>: <strong><a href="https://www.cnbc.com/2013/04/10/yums-china-sales-fall-sharply-amid-birdflu-scare.html">Yum's China Sales Fall Sharply Amid Bird-Flu Scare</a></strong>)</p><p> Russia has started introducing medical check-ups for passengers returning from China, according to press reports, raising worries that China's tourism industry could be hurt by the bird-flu outbreak.</p><p> Condon said Beijing seems to be handling the outbreak differently in comparison to the SARS crisis and that was good for investor confidence.</p><p> "Back in 2003, they (Chinese authorities) were hiding the real numbers, and they even punished the doctor who revealed them. It was a real disaster. The authorities have now learned from that, and that means there is maybe a lower risk of a SARS level of panic," he added.</p><p> Alistair Chan, an economist at Moody's Analytics, agreed that the way China handles virus outbreaks has improved since SARS.</p><p> "The reaction seems much more mature," he said. "The government is getting the U.S. and Australia to advise them on the issue and there is less of a cover up going on."</p><p> So far the impact on Chinese markets appears to be limited although analysts say bird flu concerns could be a contributing factor to weakness in Chinese equities markets, which have taken a hit from news on Monday of an unexpected fall in China's first-quarter economic growth.</p><p> (<em>Read More</em>: <strong><a href="https://www.cnbc.com/2013/04/15/has-chinas-economy-hit-a-dead-end.html">Has China's Economy Hit a 'Dead End'?</a></strong>)</p><p> "There is some talk about it (bird flu) but people don't seem to be worried," said Michael Klibaner, head of Greater China research property company Jones Lang LaSalle in Shanghai, which has seen the most cases of bird flu in recent weeks. "There is no evidence of human-to-human transmission. If I see evidence of that, then of course I would have a very different view."</p><p> Patrick Chovanec, managing director and chief strategist at Silvercrest Asset Management, said he was carefully watching how bird flu outbreak would impact the economy.</p><p> "What is important to investors is how much this will disrupt the Chinese economy. Will it affect day-to-day business? Will it stop people transporting between cities? These practical implications are what will make people sit up and take notice," he added.</p></div>

As the death toll from a deadly strain of bird flu in China rises to 17, China watchers say they are closely following Beijing's handling of the outbreak although officials appear to have learned a trick or two from the SARS crisis a decade ago. Eight fresh cases of the H7N9 bird flu virus have been reported in the eastern provinces of China this week, bringing the total figure of those infected to 82, Reuters reported. China is also investigating the possibility of human-to-human transmission of bird flu, a top Chinese health official was quoted as saying on Thursday. Some analysts are drawing parallels with the outbreak of severe acute respiratory syndrome (SARS) between 2002 and 2003, which damaged international trade between China and other countries and led to the virtual shut down of Beijing, China's capital city. If the bird flu epidemic accelerates in a similar fashion, investor sentiment could be severely damaged, said one analyst. "The obvious benchmark is SARS. That was a catastrophe and the Chinese government learnt a lot of lessons from that," said Tim Condon, head of research for Asia at ING Financial Markets. "At the moment the bird flu outbreak appears to be under control, but if it turns out to be much more virulent than expected you could see the same sort of reaction as we saw to SARS," he said. The outbreak of SARS, a viral respiratory disease spread between humans, in South China and Hong Kong between the end of 2002 and the summer of 2003, affected around 8,000 and led to more than 700 deaths, according to the World Health Organization. Beijing was criticized at the time for its handling of the outbreak and downplaying the crisis, which led to panic and hurt China's economy. (Read More: ) All About Confidence Since the fresh strain of bird flu first emerged a few weeks ago China has slaughtered thousands of birds and closed some live poultry markets. YUM Brands, which runs the popular KFC brand in China, has said its March sales in its China restaurants fell 13 percent because of bird flu worries. (Read More: Yum's China Sales Fall Sharply Amid Bird-Flu Scare) Russia has started introducing medical check-ups for passengers returning from China, according to press reports, raising worries that China's tourism industry could be hurt by the bird-flu outbreak. Condon said Beijing seems to be handling the outbreak differently in comparison to the SARS crisis and that was good for investor confidence. "Back in 2003, they (Chinese authorities) were hiding the real numbers, and they even punished the doctor who revealed them. It was a real disaster. The authorities have now learned from that, and that means there is maybe a lower risk of a SARS level of panic," he added. Alistair Chan, an economist at Moody's Analytics, agreed that the way China handles virus outbreaks has improved since SARS. "The reaction seems much more mature," he said. "The government is getting the U.S. and Australia to advise them on the issue and there is less of a cover up going on." So far the impact on Chinese markets appears to be limited although analysts say bird flu concerns could be a contributing factor to weakness in Chinese equities markets, which have taken a hit from news on Monday of an unexpected fall in China's first-quarter economic growth. (Read More: Has China's Economy Hit a 'Dead End'?) "There is some talk about it (bird flu) but people don't seem to be worried," said Michael Klibaner, head of Greater China research property company Jones Lang LaSalle in Shanghai, which has seen the most cases of bird flu in recent weeks. "There is no evidence of human-to-human transmission. If I see evidence of that, then of course I would have a very different view." Patrick Chovanec, managing director and chief strategist at Silvercrest Asset Management, said he was carefully watching how bird flu outbreak would impact the economy. "What is important to investors is how much this will disrupt the Chinese economy. Will it affect day-to-day business? Will it stop people transporting between cities? These practical implications are what will make people sit up and take notice," he added.

2021-10-30 14:12:23.910529

British Airways fined £20 million for data breach that affected over 400,000 customers

https://www.cnbc.com/2020/10/16/british-airways-fined-20-million-for-data-breach-by-ico.html

2020-10-16T12:11:03+0000

Sam Shead

CNBC

LONDON — British Airways has been fined £20 million ($26 million) by the Information Commissioner's Office (ICO) in the U.K. over a data breach in 2018 that left the personal and financial details of 429,612 BA customers exposed.Following an investigation spanning almost two years, the ICO concluded that British Airways did not have sufficient security measures in place to process significant amounts of personal data.The regulator said the failure broke data protection law.While the fine is less than the £183 million the ICO said it would issue in 2019, it is still the largest-fine ever issued by the watchdog, which said the "economic impact of Covid-19" had to be taken into account.The attacker is believed to have accessed the names, addresses, payment card numbers and CVV numbers of 244,000 British Airways customers.A further 77,000 customers had their combined card and CVV numbers accessed, and an additional 108,000 customers had just their card numbers accessed.The regulator said that the usernames and passwords of up to 612 BA Executive Club members may also have been compromised.It took British Airways more than two months to realize it had suffered a data breach.Information Commissioner Elizabeth Denham said in a statement: "People entrusted their personal details to BA and BA failed to take adequate measures to keep those details secure.""Their failure to act was unacceptable and affected hundreds of thousands of people, which may have caused some anxiety and distress as a result. That's why we have issued BA with a £20 million fine – our biggest to date.""When organizations take poor decisions around people's personal data, that can have a real impact on people's lives. The law now gives us the tools to encourage businesses to make better decisions about data, including investing in up-to-date security."A British Airways spokesperson told CNBC: "We alerted customers as soon as we became aware of the criminal attack on our systems in 2018 and are sorry we fell short of our customers' expectations."We are pleased the ICO recognizes that we have made considerable improvements to the security of our systems since the attack and that we fully co-operated with its investigation."

cnbc, Articles, London, Technology, Transportation, Business, Boeing Co, Enterprise/Security Disruptors 2013, Technology: Data, Data Economy, Business News, Europe News, Law and Regulation, source:tagname:CNBC Europe Source

<div class="group"><p>LONDON — British Airways has been fined £20 million ($26 million) by the Information Commissioner's Office (ICO) in the U.K. over a data breach in 2018 that left the personal and financial details of 429,612 BA customers exposed.</p><p>Following an investigation spanning almost two years, the ICO concluded that British Airways did not have sufficient security measures in place to process significant amounts of personal data.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The regulator said the failure broke data protection law.</p><p>While the fine is less than the £183 million the ICO said it would issue in 2019, it is still the largest-fine ever issued by the watchdog, which said the "economic impact of Covid-19" had to be taken into account.</p><p>The attacker is believed to have accessed the names, addresses, payment card numbers and CVV numbers of 244,000 British Airways customers.</p><p>A further 77,000 customers had their combined card and CVV numbers accessed, and an additional 108,000 customers had just their card numbers accessed.</p><p>The regulator said that the usernames and passwords of up to 612 BA Executive Club members may also have been compromised.</p><div style="height:100%" class="lazyload-placeholder"></div><p>It took British Airways more than two months to realize it had suffered a data breach.</p><p>Information Commissioner Elizabeth Denham said in a statement: "People entrusted their personal details to BA and BA failed to take adequate measures to keep those details secure."</p><p>"Their failure to act was unacceptable and affected hundreds of thousands of people, which may have caused some anxiety and distress as a result. That's why we have issued BA with a £20 million fine – our biggest to date."</p><p>"When organizations take poor decisions around people's personal data, that can have a real impact on people's lives. The law now gives us the tools to encourage businesses to make better decisions about data, including investing in up-to-date security."</p><p>A British Airways spokesperson told CNBC: "We alerted customers as soon as we became aware of the criminal attack on our systems in 2018 and are sorry we fell short of our customers' expectations.</p><p>"We are pleased the ICO recognizes that we have made considerable improvements to the security of our systems since the attack and that we fully co-operated with its investigation."</p></div>

LONDON — British Airways has been fined £20 million ($26 million) by the Information Commissioner's Office (ICO) in the U.K. over a data breach in 2018 that left the personal and financial details of 429,612 BA customers exposed.Following an investigation spanning almost two years, the ICO concluded that British Airways did not have sufficient security measures in place to process significant amounts of personal data.The regulator said the failure broke data protection law.While the fine is less than the £183 million the ICO said it would issue in 2019, it is still the largest-fine ever issued by the watchdog, which said the "economic impact of Covid-19" had to be taken into account.The attacker is believed to have accessed the names, addresses, payment card numbers and CVV numbers of 244,000 British Airways customers.A further 77,000 customers had their combined card and CVV numbers accessed, and an additional 108,000 customers had just their card numbers accessed.The regulator said that the usernames and passwords of up to 612 BA Executive Club members may also have been compromised.It took British Airways more than two months to realize it had suffered a data breach.Information Commissioner Elizabeth Denham said in a statement: "People entrusted their personal details to BA and BA failed to take adequate measures to keep those details secure.""Their failure to act was unacceptable and affected hundreds of thousands of people, which may have caused some anxiety and distress as a result. That's why we have issued BA with a £20 million fine – our biggest to date.""When organizations take poor decisions around people's personal data, that can have a real impact on people's lives. The law now gives us the tools to encourage businesses to make better decisions about data, including investing in up-to-date security."A British Airways spokesperson told CNBC: "We alerted customers as soon as we became aware of the criminal attack on our systems in 2018 and are sorry we fell short of our customers' expectations."We are pleased the ICO recognizes that we have made considerable improvements to the security of our systems since the attack and that we fully co-operated with its investigation."

2021-10-30 14:12:24.098331

Portfolio Prep for Next Week: 'Don't Get Crazy'

https://www.cnbc.com/2009/11/27/portfolio-prep-for-next-week-dont-get-crazy.html

2009-11-27T20:53:23+0000

CNBC

In a shorter holiday week, U.S. stocks ended flat Friday, as positives struggled with the Dubai debt news. How should investors prepare for next week? Alan Valdes, vice president at Kabrik Trading, and Doug Kreps, principal and managing director at Fort Pitt Capital Group, offered CNBC their portfolio advice. (See Kreps' stock picks, below.)"Sometimes your best trade is no trade at all," Valdes said.

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<div class="group"><p>In a shorter holiday week, U.S. stocks ended flat Friday, as positives struggled with the Dubai debt news. How should investors prepare for next week? </p><p>Alan Valdes, vice president at Kabrik Trading, and Doug Kreps, principal and managing director at Fort Pitt Capital Group, offered CNBC their portfolio advice. (<strong>See Kreps' stock picks, below</strong>.)</p><div style="height:100%" class="lazyload-placeholder"></div><p>"Sometimes your best trade is no trade at all," Valdes said. </p></div>,<div class="group"><p>He believes that the Dubai frenzy will prove to be a "one-day wonder," and suggested that no one should pass judgement on the markets until certain key economic reports are issued next week.</p><p>"My advice is, just sit tight and don't get crazy this weekend."</p><p>He said investors "might want to get defensive" just to be safe, but declared optimistically, "We still think markets are going to rally until the end of the year."</p><p>Kreps echoed Valdes' message of calm:</p><div style="height:100%" class="lazyload-placeholder"></div><p>"We tend to view trades in terms of more than just a day or two. We have a global theme that's very much still intact," Kreps declared.</p><p>"The global economy is still continuing to grow outside the U.S." — and there are U.S.-based multinational stocks that harness such growth, Kreps said.</p><p><strong><u>Kreps' Recommendations:</u></strong></p><p>Microsoft</p><p>Boeing</p><p>Kimberley-Clark — the personal/household products maker is also a "play on sonsumers in the developing world," Kreps said.</p><p>______________________________<br><strong><em>CNBC Slideshows:</em></strong></p><ul><li><a href="https://www.cnbc.com/2012/03/27/The-Worlds-Biggest-Debtor-Nations.html">The World's Biggest Debtor Nations</a></li></ul><p>______________________________  <br><strong><em>Other Points-of-View:</em></strong></p><ul><li><a href="https://www.cnbc.com/2009/11/27/dubai-stock-market-fear-has-legs-dennis-gartman.html">Gartman Warns: Dubai Stock Market Fear Has 'Legs'</a></li><li><a href="https://www.cnbc.com/2009/11/27/dubai-spooks-investors-but-may-bring-buying-opportunity.html">Dubai Stock Selloff May Bring Buying Opportunity</a></li><li>Market Outlook: Can Stocks Overcome Dubai Effect?</li></ul><p>______________________________ <br><strong><em>CNBC Data Pages:</em></strong></p><ul><li><a href="https://www.cnbc.com/futures-and-commodities/">Oil, Gold, Natural Gas Prices Now </a></li><li><a href="https://www.cnbc.com/currencies/">Where's the US Dollar Today?</a></li><li><a href="https://www.cnbc.com/bonds/">Track Treasury Prices Here</a></li></ul><p>______________________________</p><p>______________________________ <br><strong><em>Disclosures:</em></strong></p><p>Disclosure information was not available for Valdes, Kreps or their respective companies.</p><p><a href="https://www.cnbc.com/stocks-disclaimer.html">Disclaimer</a></p></div>

In a shorter holiday week, U.S. stocks ended flat Friday, as positives struggled with the Dubai debt news. How should investors prepare for next week? Alan Valdes, vice president at Kabrik Trading, and Doug Kreps, principal and managing director at Fort Pitt Capital Group, offered CNBC their portfolio advice. (See Kreps' stock picks, below.)"Sometimes your best trade is no trade at all," Valdes said. He believes that the Dubai frenzy will prove to be a "one-day wonder," and suggested that no one should pass judgement on the markets until certain key economic reports are issued next week."My advice is, just sit tight and don't get crazy this weekend."He said investors "might want to get defensive" just to be safe, but declared optimistically, "We still think markets are going to rally until the end of the year."Kreps echoed Valdes' message of calm:"We tend to view trades in terms of more than just a day or two. We have a global theme that's very much still intact," Kreps declared."The global economy is still continuing to grow outside the U.S." — and there are U.S.-based multinational stocks that harness such growth, Kreps said.Kreps' Recommendations:MicrosoftBoeingKimberley-Clark — the personal/household products maker is also a "play on sonsumers in the developing world," Kreps said.______________________________CNBC Slideshows:The World's Biggest Debtor Nations______________________________  Other Points-of-View:Gartman Warns: Dubai Stock Market Fear Has 'Legs'Dubai Stock Selloff May Bring Buying OpportunityMarket Outlook: Can Stocks Overcome Dubai Effect?______________________________ CNBC Data Pages:Oil, Gold, Natural Gas Prices Now Where's the US Dollar Today?Track Treasury Prices Here____________________________________________________________ Disclosures:Disclosure information was not available for Valdes, Kreps or their respective companies.Disclaimer

2021-10-30 14:12:24.137488

Relocating in retirement? Experts say look before leaping

https://www.cnbc.com/2015/09/16/relocating-in-retirement-experts-say-look-before-leaping.html

2015-09-16T12:23:44+0000

CNBC

If you plan to relocate when you retire, don't wait until the last minute to hash out the specifics. You may need a decade or more to do it right. A new address, whether out of state or close to home, can have major implications on your standard of living, target retirement date and potentially even the health of your marriage, said Craig Brimhall, vice president of wealth strategies for Ameriprise Financial. Brimhall prompts his own clients to envision their future with a "dream book."

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<div class="group"><p> If you plan to relocate when you retire, don't wait until the last minute to hash out the specifics. You may need a decade or more to do it right.</p><p> A new address, whether out of state or close to home, can have major implications on your standard of living, target retirement date and potentially even the health of your marriage, said Craig Brimhall, vice president of wealth strategies for Ameriprise Financial. </p><div style="height:100%" class="lazyload-placeholder"></div><p> Brimhall prompts his own clients to envision their future with a "dream book."</p></div>,<div class="group"><p>"It's good to have that conversation about where you plan to retire 10 to 15 years out, because it needs to be given a fair amount of thought," he said. "The earlier you plan, the better."</p><p> Before deciding where they'd like to live, for example, Brimhall encourages retirement planners to first determine what they hope to gain. </p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/08/26/offering-alternatives-to-lofty-retirement-dreams.html">Sorry! You can't retire yet</a></p><p> "There are a lot of different reasons why people want to relocate, and answering the 'why' component is most important because it determines the next questions and what homework you need to do," he said. </p><div style="height:100%" class="lazyload-placeholder"></div><p> For many, proximity to grandchildren is paramount, but that often translates into a higher cost of living. </p></div>,<div class="group"><p> Others live modestly during their working years but desire a more luxurious lifestyle after they stop punching the clock—which requires a more aggressive savings and investment strategy during their peak earning years. </p><p> And still others seek warmer weather or lower taxes, but many of the most popular states with coveted zero-income-tax status—such as Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming—aren't as retiree-friendly as they first appear.</p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/08/21/how-big-will-that-social-security-check-be.html">Test your Social Security smarts</a></p><p> "It's worth unwrapping that piece a little more and taking a more granular look," said Neil Krishnaswamy, a certified financial planner with Exencial Wealth Advisors. "Some states that don't have an income tax may make up for it with higher sales or property taxes, so you want to look at the whole picture to determine true cost of living." </p><p> Remember, too, that if you live half the year or less in an income tax–free state—like many 'snowbirds,' who flee to warmer climes during the winter months—you may still owe tax on retirement income earned in your home state. <br></p></div>,<div class="group"><p> Another consideration: If you plan to work even after you retire, out of necessity or by choice, you will want to consider employment opportunities when selecting a new locale. </p><p> <a href="http://www.centerforasecureretirement.com/archive-study/2014/new-expectations-new-rewards-work-in-retirement-for-middle-income-boomers/" target="_blank">The Center for a Secure Retirement reports</a> that 28 percent of baby boomers who retired from their full-time career are either currently employed or have worked during retirement. </p><p> <a href="https://livabilityindex.aarp.org/" target="_blank">AARP's livability index</a> scores neighborhoods and communities nationwide for the services and amenities that impact seniors most, including housing costs, social outlets, entertainment, work opportunities and access to medical care. </p><p> Seniors who are still in early retirement—when relocation decisions are usually made—often fail to consider the importance of public transportation, explains Rodney Harrell, director of Livable Communities for the AARP Public Policy Institute. </p></div>,<div class="group"><p> "A lot of people don't think about transportation, but when you can no longer drive, you need to have community amenities available, like alternative methods of transportation," to reach retailers, grocery stores and health-care providers, he said. </p><p> As you define your relocation goals with a financial advisor, said Krishnaswamy at Exencial Wealth Advisors, it's equally important to communicate with your spouse. </p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/07/30/its-never-too-early-or-late-to-plan-for-your-retirement-years.html">It's never too early to plan retirement</a></p><p> Married couples may agree on a destination but differ on the size of the home they feel they need—a one-bedroom condominium on the beach, a single-family home with grandkid-friendly guest rooms or a 55-plus community that will enable them to age in place. </p><p> Such decisions not only impact the couple's quality of life but their available cash flow, as well. And disagreement inevitably creates tension. </p></div>,<div class="group"><p> Relocation at any life stage is a major stressor, said Krishnaswamy, but the newly retired face the added pressure of leaving their professional careers behind, spending more time at home with their spouse and learning to live off their limited savings. </p><p> "Having the right expectations and conversations about what lifestyle you both envision can help prevent arguments and disagreements down the road," he added.</p><p> Krishnaswamy suggests that, before selling their home and leaving their social network behind, retirees who intend to relocate—especially to a city where they've only ever vacationed—might first consider testing the waters. </p><p> Try renting for part of the year to be sure the culture, climate and cost of living are a fit. </p></div>,<div class="group"><p> Indeed, the road to Florida is littered with so-called halfbacks—retirees who realized the Sunshine State wasn't for them and relocated a second time (and at no small expense) to a more active senior community in Georgia or the Carolinas. </p><p> Relocation during retirement does not necessarily solve any problems, and it can create new ones. </p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/08/13/paying-the-price-for-supporting-adult-kids-aging-parents.html">Supporting adult children, aging parents</a></p><p> The most successful stories start with a solid plan and a heavy dose of due diligence. </p><p> "The best time to make these decisions is before you are in the moment or facing a new challenge," said Harrell at AARP. "Many people wait, which adds to stress."</p><p> <em>—By Shelly Schwartz, special to CNBC.com</em></p></div>

If you plan to relocate when you retire, don't wait until the last minute to hash out the specifics. You may need a decade or more to do it right. A new address, whether out of state or close to home, can have major implications on your standard of living, target retirement date and potentially even the health of your marriage, said Craig Brimhall, vice president of wealth strategies for Ameriprise Financial. Brimhall prompts his own clients to envision their future with a "dream book.""It's good to have that conversation about where you plan to retire 10 to 15 years out, because it needs to be given a fair amount of thought," he said. "The earlier you plan, the better." Before deciding where they'd like to live, for example, Brimhall encourages retirement planners to first determine what they hope to gain. Read MoreSorry! You can't retire yet "There are a lot of different reasons why people want to relocate, and answering the 'why' component is most important because it determines the next questions and what homework you need to do," he said. For many, proximity to grandchildren is paramount, but that often translates into a higher cost of living. Others live modestly during their working years but desire a more luxurious lifestyle after they stop punching the clock—which requires a more aggressive savings and investment strategy during their peak earning years. And still others seek warmer weather or lower taxes, but many of the most popular states with coveted zero-income-tax status—such as Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming—aren't as retiree-friendly as they first appear.Read MoreTest your Social Security smarts "It's worth unwrapping that piece a little more and taking a more granular look," said Neil Krishnaswamy, a certified financial planner with Exencial Wealth Advisors. "Some states that don't have an income tax may make up for it with higher sales or property taxes, so you want to look at the whole picture to determine true cost of living." Remember, too, that if you live half the year or less in an income tax–free state—like many 'snowbirds,' who flee to warmer climes during the winter months—you may still owe tax on retirement income earned in your home state. Another consideration: If you plan to work even after you retire, out of necessity or by choice, you will want to consider employment opportunities when selecting a new locale. The Center for a Secure Retirement reports that 28 percent of baby boomers who retired from their full-time career are either currently employed or have worked during retirement. AARP's livability index scores neighborhoods and communities nationwide for the services and amenities that impact seniors most, including housing costs, social outlets, entertainment, work opportunities and access to medical care. Seniors who are still in early retirement—when relocation decisions are usually made—often fail to consider the importance of public transportation, explains Rodney Harrell, director of Livable Communities for the AARP Public Policy Institute. "A lot of people don't think about transportation, but when you can no longer drive, you need to have community amenities available, like alternative methods of transportation," to reach retailers, grocery stores and health-care providers, he said. As you define your relocation goals with a financial advisor, said Krishnaswamy at Exencial Wealth Advisors, it's equally important to communicate with your spouse. Read MoreIt's never too early to plan retirement Married couples may agree on a destination but differ on the size of the home they feel they need—a one-bedroom condominium on the beach, a single-family home with grandkid-friendly guest rooms or a 55-plus community that will enable them to age in place. Such decisions not only impact the couple's quality of life but their available cash flow, as well. And disagreement inevitably creates tension. Relocation at any life stage is a major stressor, said Krishnaswamy, but the newly retired face the added pressure of leaving their professional careers behind, spending more time at home with their spouse and learning to live off their limited savings. "Having the right expectations and conversations about what lifestyle you both envision can help prevent arguments and disagreements down the road," he added. Krishnaswamy suggests that, before selling their home and leaving their social network behind, retirees who intend to relocate—especially to a city where they've only ever vacationed—might first consider testing the waters. Try renting for part of the year to be sure the culture, climate and cost of living are a fit. Indeed, the road to Florida is littered with so-called halfbacks—retirees who realized the Sunshine State wasn't for them and relocated a second time (and at no small expense) to a more active senior community in Georgia or the Carolinas. Relocation during retirement does not necessarily solve any problems, and it can create new ones. Read MoreSupporting adult children, aging parents The most successful stories start with a solid plan and a heavy dose of due diligence. "The best time to make these decisions is before you are in the moment or facing a new challenge," said Harrell at AARP. "Many people wait, which adds to stress." —By Shelly Schwartz, special to CNBC.com

2021-10-30 14:12:24.297511

France's Hollande says Nice attack undeniably of terrorist nature

https://www.cnbc.com/2016/07/14/frances-hollande-says-nice-attack-undeniably-of-terrorist-nature.html

2016-07-15T02:56:14+0000

CNBC

French President Francois Hollande said Thursday's lethal attack on the southern city of Nice was clearly a terrorist assault and that the state of emergency imposed since a previous attack on Paris last November would be extended for another three months.Speaking after an emergency meeting in the early hours of Friday morning, Hollande said at least 77 people were killed in an attack in which the assailant drove a big truck at high speed into dense crowds who were watching a fireworks display on the country's national Bastille Day holiday."There's no denying the terrorist nature of this attack of yet again the most extreme form of violence," the French leader said in a national television address at 4 a.m. (0200 GMT), about five or six hours after the carnage in Nice. Follow CNBC International on Twitter and Facebook.

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<div class="group"><p> French President <a href="https://www.cnbc.com/francois-hollande/">Francois Hollande</a> said Thursday's lethal attack on the southern city of Nice was clearly a terrorist assault and that the state of emergency imposed since a previous attack on <a href="https://www.cnbc.com/paris-/">Paris</a> last November would be extended for another three months.</p><p>Speaking after an emergency meeting in the early hours of Friday morning, Hollande said at least 77 people were killed in an attack in which the assailant drove a big truck at high speed into dense crowds who were watching a fireworks display on the country's national Bastille Day holiday.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"There's no denying the terrorist nature of this attack of yet again the most extreme form of violence," the French leader said in a national television address at 4 a.m. (0200 GMT), about five or six hours after the carnage in Nice.</p><p><em> Follow CNBC International on <a href="https://twitter.com/cnbci" target="_blank">Twitter</a> and <a href="https://www.facebook.com/cnbcinternational" target="_blank">Facebook</a>.</em><br></p></div>

French President Francois Hollande said Thursday's lethal attack on the southern city of Nice was clearly a terrorist assault and that the state of emergency imposed since a previous attack on Paris last November would be extended for another three months.Speaking after an emergency meeting in the early hours of Friday morning, Hollande said at least 77 people were killed in an attack in which the assailant drove a big truck at high speed into dense crowds who were watching a fireworks display on the country's national Bastille Day holiday."There's no denying the terrorist nature of this attack of yet again the most extreme form of violence," the French leader said in a national television address at 4 a.m. (0200 GMT), about five or six hours after the carnage in Nice. Follow CNBC International on Twitter and Facebook.

2021-10-30 14:12:24.338129

The 139th Westminster Kennel Club Show (Opening Night) Will Air Live on CNBC on February 16

https://www.cnbc.com/2015/01/08/the-139th-westminster-kennel-club-show-opening-night-will-air-live-on-cnbc-on-february-16.html

2015-01-08T22:47:27+0000

CNBC

(ALL TIMES ARE IN ET) Monday, 2/16/2015: 8:00 PM 139TH WESTMINSTER KENNEL CLUB SHOW (LIVE) (3 HOURS) 11:00 PM 139TH WESTMINSTER KENNEL CLUB SHOW (RE-AIR) (3 HOURS) About CNBC: With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 371 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries. CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps. Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://www.nbcumv.com/programming/cnbc.

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<div class="group"><p> <strong><span>(ALL TIMES ARE IN ET)</span></strong><strong><span><br> <br><strong>Monday, 2/16/2015:</strong></span></strong></p><p> <span>8:00 PM 139TH WESTMINSTER KENNEL CLUB SHOW <strong>(LIVE) (3 HOURS)</strong></span></p><div style="height:100%" class="lazyload-placeholder"></div><p> <span>11:00 PM 139TH WESTMINSTER KENNEL CLUB SHOW <strong>(RE-AIR) (3 HOURS)</strong></span></p><p> <strong>About CNBC:</strong></p><p> With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 371 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.</p><p> CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.</p><p> Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at <a href="http://www.nbcumv.com/programming/cnbc" target="_blank">http://www.nbcumv.com/programming/cnbc</a>. </p></div>

(ALL TIMES ARE IN ET) Monday, 2/16/2015: 8:00 PM 139TH WESTMINSTER KENNEL CLUB SHOW (LIVE) (3 HOURS) 11:00 PM 139TH WESTMINSTER KENNEL CLUB SHOW (RE-AIR) (3 HOURS) About CNBC: With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 371 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries. CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps. Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://www.nbcumv.com/programming/cnbc.

2021-10-30 14:12:24.369405

Number of mortgages in coronavirus bailout program jumps 21,000 after declining for six straight weeks

https://www.cnbc.com/2020/10/02/number-of-mortgages-in-coronavirus-bailout-program-jumps-21000.html

2020-10-02T11:36:01+0000

Diana Olick

CNBC

The number of mortgages in active pandemic-related bailout plans rose by 21,000 in the past week after declining for six straight weeks, according to Black Knight, a mortgage technology and analytics firm. The increase was not across all mortgage types but among bank-held and private-labeled security loans (28,000), and, to a lesser extent, among FHA/VA loans (2,000). Those increases were offset by a decline of 9,000 Fannie Mae and Freddie Mac loans in forbearance.The government and private sector forbearance programs, initiated at the start of the pandemic, allow borrowers to delay their monthly payments for at least three months and for up to a year. Forbearance is granted in three-month terms, and so far more than 75% of borrowers in bailouts are on extensions since March."As of the 29th [of September], nearly 800,000 forbearance plans were still set to expire in September, down from 2 million at the start of the month. The data is still coming in, but over the past week, we've seen a roughly 80% extension rate," said Andy Walden, director of market research at Black Knight. "Given that there are another million plans for which October marks the last payment covered by forbearance, we should expect to see heightened levels of expiration/extension activity in the coming weeks."As of Tuesday, roughly 3.6 million homeowners remain in pandemic-related forbearance plans. That's 6.8% of all active mortgages, representing $751 billion in unpaid principal.While the weekly turn is troubling, over the past month active forbearance volumes have fallen by 305,000, or 8%. FHA and VA loans, which generally go to borrowers with lower incomes and lower down payments, are not recovering as well as the rest of the market. It is likely those borrowers are in jobs that have been hardest hit by the pandemic.It is impossible to know specifically why more borrowers suddenly needed help on their mortgages, but it is a sign that all is not improving in the housing market. Some borrowers have been dipping into savings to make their monthly payments, and that may have now run dry. While the economy is adding jobs again, the unemployment rate is still high, and some borrowers are still clearly struggling. By loan type, 4.7% of all Fannie and Freddie-backed loans are in forbearance, while 11.2% of all FHA/VA loans are. For private label and bank-held loans, that share is 7.3%.

cnbc, Articles, Black Knight Inc, Mortgages, Real estate, Housing, Coronavirus: Business, Real Estate, US: News, Foreclosures, Coronavirus, Business News, source:tagname:CNBC US Source

<div class="group"><p>The number of mortgages in active pandemic-related bailout plans rose by 21,000 in the past week after declining for six straight weeks, according to Black Knight, a mortgage technology and analytics firm. </p><p>The increase was not across all mortgage types but among bank-held and private-labeled security loans (28,000), and, to a lesser extent, among FHA/VA loans (2,000). Those increases were offset by a decline of 9,000 Fannie Mae and Freddie Mac loans in forbearance.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The government and private sector forbearance programs, initiated at the start of the pandemic, allow borrowers to delay their monthly payments for at least three months and for up to a year. Forbearance is granted in three-month terms, and so far more than 75% of borrowers in bailouts are on extensions since March.</p><p>"As of the 29th [of September], nearly 800,000 forbearance plans were still set to expire in September, down from 2 million at the start of the month. The data is still coming in, but over the past week, we've seen a roughly 80% extension rate," said Andy Walden, director of market research at Black Knight. "Given that there are another million plans for which October marks the last payment covered by forbearance, we should expect to see heightened levels of expiration/extension activity in the coming weeks."</p><p>As of Tuesday, roughly 3.6 million homeowners remain in pandemic-related forbearance plans. That's 6.8% of all active mortgages, representing $751 billion in unpaid principal.</p><p>While the weekly turn is troubling, over the past month active forbearance volumes have fallen by 305,000, or 8%. FHA and VA loans, which generally go to borrowers with lower incomes and lower down payments, are not recovering as well as the rest of the market. It is likely those borrowers are in jobs that have been hardest hit by the pandemic.</p><p>It is impossible to know specifically why more borrowers suddenly needed help on their mortgages, but it is a sign that all is not improving in the housing market. Some borrowers have been dipping into savings to make their monthly payments, and that may have now run dry. While the economy is adding jobs again, the unemployment rate is still high, and some borrowers are still clearly struggling. </p><div style="height:100%" class="lazyload-placeholder"></div><p>By loan type, 4.7% of all Fannie and Freddie-backed loans are in forbearance, while 11.2% of all FHA/VA loans are. For private label and bank-held loans, that share is 7.3%.</p><p> </p></div>

The number of mortgages in active pandemic-related bailout plans rose by 21,000 in the past week after declining for six straight weeks, according to Black Knight, a mortgage technology and analytics firm. The increase was not across all mortgage types but among bank-held and private-labeled security loans (28,000), and, to a lesser extent, among FHA/VA loans (2,000). Those increases were offset by a decline of 9,000 Fannie Mae and Freddie Mac loans in forbearance.The government and private sector forbearance programs, initiated at the start of the pandemic, allow borrowers to delay their monthly payments for at least three months and for up to a year. Forbearance is granted in three-month terms, and so far more than 75% of borrowers in bailouts are on extensions since March."As of the 29th [of September], nearly 800,000 forbearance plans were still set to expire in September, down from 2 million at the start of the month. The data is still coming in, but over the past week, we've seen a roughly 80% extension rate," said Andy Walden, director of market research at Black Knight. "Given that there are another million plans for which October marks the last payment covered by forbearance, we should expect to see heightened levels of expiration/extension activity in the coming weeks."As of Tuesday, roughly 3.6 million homeowners remain in pandemic-related forbearance plans. That's 6.8% of all active mortgages, representing $751 billion in unpaid principal.While the weekly turn is troubling, over the past month active forbearance volumes have fallen by 305,000, or 8%. FHA and VA loans, which generally go to borrowers with lower incomes and lower down payments, are not recovering as well as the rest of the market. It is likely those borrowers are in jobs that have been hardest hit by the pandemic.It is impossible to know specifically why more borrowers suddenly needed help on their mortgages, but it is a sign that all is not improving in the housing market. Some borrowers have been dipping into savings to make their monthly payments, and that may have now run dry. While the economy is adding jobs again, the unemployment rate is still high, and some borrowers are still clearly struggling. By loan type, 4.7% of all Fannie and Freddie-backed loans are in forbearance, while 11.2% of all FHA/VA loans are. For private label and bank-held loans, that share is 7.3%.

2021-10-30 14:12:24.525918

Wells Fargo rates Ford, GM as overweight, praises new electric vehicles

https://www.cnbc.com/2021/04/05/wells-fargo-rates-ford-gm-as-overweight-praises-all-electric-lineups.html

2021-04-05T14:11:33+0000

Jesse Pound

CNBC

Legacy automakers Ford and General Motors are set to be industry leaders once again as electric vehicles and autonomous driving come into focus, according Wells Fargo.The firm's analyst Colin Langan initiated coverage of both stocks on Monday with overweight ratings, praising the new and upcoming electric vehicles for the stalwart companies.

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<div class="group"><p>Legacy automakers <a href="//www.cnbc.com/quotes/F" target="_blank">Ford</a> and <a href="//www.cnbc.com/quotes/GM" target="_blank">General Motors</a> are set to be industry leaders once again as electric vehicles and autonomous driving come into focus, according Wells Fargo.</p><p>The firm's analyst Colin Langan initiated coverage of both stocks on Monday with overweight ratings, praising the new and upcoming electric vehicles for the stalwart companies.</p></div>

Legacy automakers Ford and General Motors are set to be industry leaders once again as electric vehicles and autonomous driving come into focus, according Wells Fargo.The firm's analyst Colin Langan initiated coverage of both stocks on Monday with overweight ratings, praising the new and upcoming electric vehicles for the stalwart companies.

2021-10-30 14:12:24.870520

New TalentBin Interest Scores to Provide Recruiters with a Quick Measure of the Intensity of a Candidates' Professional Interests

https://www.cnbc.com/2012/10/08/new-talentbin-interest-scores-to-provide-recruiters-with-a-quick-measure-of-the-intensity-of-a-candidates-professional-interests.html

2012-10-08T13:03:00+0000

CNBC

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<div class="group"><div><p>SAN FRANCISCO, Oct. 8, 2012 /PRNewswire/ -- <a href="http://www.talentbin.com/" target="_blank">TalentBin</a>, the talent search engine that turbo-charges talent discovery across the web, today announced the launch of TalentBin Scores, a new addition to the company's flagship social recruiting solution, providing a relative weight for how intensely candidates exhibit a given professional interest or skill across the web. TalentBin Scores will be unveiled in Booth #955 at the <a href="http://www.hrtechnologyconference.com/" target="_blank">2012 </a><a href="http://www.hrtechnologyconference.com/" target="_blank">HR</a> <a href="http://www.hrtechnologyconference.com/" target="_blank">Technology</a> <a href="http://www.hrtechnologyconference.com/" target="_blank">Conference</a> <a href="http://www.hrtechnologyconference.com/" target="_blank">and</a> <a href="http://www.hrtechnologyconference.com/" target="_blank">Exposition</a>, where the company will also be showcased as one of the most innovative software solutions that promise to enhance and improve the HR function in the "Awesome New Technologies for HR" session presented by HR technology guru Bill Kutik. </p><p>Since its launch this spring, TalentBin has quickly demonstrated its strength at filling in information gaps for recruiters and hiring managers by scouring the web for clues left by candidates on social media sites and online professional communities – delivering a more complete and well-rounded web resume. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Unlike online profiles or traditional resumes that lack an expressed measure of depth in a particular professional interest, TalentBin Scores provide an indicator of intensity of a given professional interest, to better help recruiters and hiring managers quickly assess if a candidate could be the right fit – significantly streamlining the filtering process. </p><p>With the addition of TalentBin Scores, the company is going deeper into the candidate profile, to not only tell prospective employers what a candidate knows, but the intensity with which they demonstrate that know how. Drawn from observable online activity, these indicator levels can not only help recruiters see the relative intensities of a candidate's various professional interests, but also help them compare the intensities of the same interests between multiple candidates. Ultimately, TalentBin Scores are designed to enable employers to more quickly and efficiently zero in on candidates most likely to fit their specific skills requirements for their open positions.</p><p>"As part of the TalentBin process of interpreting online professional activity to identify the skills that would be relevant to an employer, we naturally discovered that the skills and interests we found were not all at equal strength," explained Peter Kazanjy, co-founder of TalentBin. "When a recruiter is scanning LinkedIn or other professional profiles, they are lucky to get all the skills they are looking for listed – no less a scale of how deeply a candidate may be involved with a given skill or interest. TalentBin Score was created to solve that problem, providing a quick measure of the strength of those interests."</p><p>Currently, more than 100 leading companies, including Facebook, Groupon, Dolby, and Yahoo!, rely on TalentBin for their online sourcing and social recruiting needs. TalentBin aggregates a candidate's "implicit" professional activity from the skills and interests they reveal across social networks like Facebook, Twitter, Google+, Meetup, Quora, and more, coupled with activity on other industry-specific social communities like GitHub, SourceForge, and Bitbucket for software engineering, for example. This additional information bolsters passive professional profiles with input that is vital to helping recruiters determine ideal job fit. The result is a more accurate, 360-degree view of a candidate that covers everything from professional skills to personal interests, information that does not usually appear on resumes or online professional profiles. TalentBin then takes it one step further, compiling all contact information such as email addresses, Twitter handles, and more to help facilitate direct candidate engagement.</p><p>TalentBin offers an API for seamless integrations with a wide range of software partners. The TalentBin solution already has over 200 million candidate profiles cultivated from the US Patent Database and over 30 professional social media communities, and growing. To make TalentBin a part of your talent sourcing and acquisition strategy, visit <a href="http://www.talentbin.com/" target="_blank">www</a><a href="http://www.talentbin.com/" target="_blank">.</a><a href="http://www.talentbin.com/" target="_blank">talentbin</a><a href="http://www.talentbin.com/" target="_blank">.</a><a href="http://www.talentbin.com/" target="_blank">com</a>.</p><div style="height:100%" class="lazyload-placeholder"></div><p><b>About TalentBin</b><br>Based in San Francisco, TalentBin is focused on turbo-charging talent acquisition for recruiters and hiring managers with its talent search engine, turning the web into a virtually endless talent sourcing database. By crawling targeted professional networking sites to pull together composite web resumes - adding vital skills and expertise to traditionally sparse profiles – it helps make fast and definitive job matches. TalentBin has aggregated over 200 million professional profiles to date, and provides user access from anywhere as a web application, as a browser plug-in for Google Chrome, or within existing Recruiting CRM<b>,</b> ATS, or HRIS system through an API. With staff hailing from VMWare, eBay, and LinkedIn, TalentBin is funded by First Round Capital, Charles River Ventures, and Ron Conway's SV Angel. For more, visit <a href="http://www.talentbin.com/" target="_blank">www</a><a href="http://www.talentbin.com/" target="_blank">.</a><a href="http://www.talentbin.com/" target="_blank">talentbin</a><a href="http://www.talentbin.com/" target="_blank">.</a><a href="http://www.talentbin.com/" target="_blank">com</a>.</p><p><b>Press Contact:<br></b>Jennifer Herits<br>Resound Marketing<br>609-279-0050 x103<br><a href="mailto:jennifer@resoundmarketing.com" target="_blank">jennifer@resoundmarketing.com</a></p><p>SOURCE TalentBin</p></div></div>

SAN FRANCISCO, Oct. 8, 2012 /PRNewswire/ -- TalentBin, the talent search engine that turbo-charges talent discovery across the web, today announced the launch of TalentBin Scores, a new addition to the company's flagship social recruiting solution, providing a relative weight for how intensely candidates exhibit a given professional interest or skill across the web. TalentBin Scores will be unveiled in Booth #955 at the 2012 HR Technology Conference and Exposition, where the company will also be showcased as one of the most innovative software solutions that promise to enhance and improve the HR function in the "Awesome New Technologies for HR" session presented by HR technology guru Bill Kutik. Since its launch this spring, TalentBin has quickly demonstrated its strength at filling in information gaps for recruiters and hiring managers by scouring the web for clues left by candidates on social media sites and online professional communities – delivering a more complete and well-rounded web resume. Unlike online profiles or traditional resumes that lack an expressed measure of depth in a particular professional interest, TalentBin Scores provide an indicator of intensity of a given professional interest, to better help recruiters and hiring managers quickly assess if a candidate could be the right fit – significantly streamlining the filtering process. With the addition of TalentBin Scores, the company is going deeper into the candidate profile, to not only tell prospective employers what a candidate knows, but the intensity with which they demonstrate that know how. Drawn from observable online activity, these indicator levels can not only help recruiters see the relative intensities of a candidate's various professional interests, but also help them compare the intensities of the same interests between multiple candidates. Ultimately, TalentBin Scores are designed to enable employers to more quickly and efficiently zero in on candidates most likely to fit their specific skills requirements for their open positions."As part of the TalentBin process of interpreting online professional activity to identify the skills that would be relevant to an employer, we naturally discovered that the skills and interests we found were not all at equal strength," explained Peter Kazanjy, co-founder of TalentBin. "When a recruiter is scanning LinkedIn or other professional profiles, they are lucky to get all the skills they are looking for listed – no less a scale of how deeply a candidate may be involved with a given skill or interest. TalentBin Score was created to solve that problem, providing a quick measure of the strength of those interests."Currently, more than 100 leading companies, including Facebook, Groupon, Dolby, and Yahoo!, rely on TalentBin for their online sourcing and social recruiting needs. TalentBin aggregates a candidate's "implicit" professional activity from the skills and interests they reveal across social networks like Facebook, Twitter, Google+, Meetup, Quora, and more, coupled with activity on other industry-specific social communities like GitHub, SourceForge, and Bitbucket for software engineering, for example. This additional information bolsters passive professional profiles with input that is vital to helping recruiters determine ideal job fit. The result is a more accurate, 360-degree view of a candidate that covers everything from professional skills to personal interests, information that does not usually appear on resumes or online professional profiles. TalentBin then takes it one step further, compiling all contact information such as email addresses, Twitter handles, and more to help facilitate direct candidate engagement.TalentBin offers an API for seamless integrations with a wide range of software partners. The TalentBin solution already has over 200 million candidate profiles cultivated from the US Patent Database and over 30 professional social media communities, and growing. To make TalentBin a part of your talent sourcing and acquisition strategy, visit www.talentbin.com.About TalentBinBased in San Francisco, TalentBin is focused on turbo-charging talent acquisition for recruiters and hiring managers with its talent search engine, turning the web into a virtually endless talent sourcing database. By crawling targeted professional networking sites to pull together composite web resumes - adding vital skills and expertise to traditionally sparse profiles – it helps make fast and definitive job matches. TalentBin has aggregated over 200 million professional profiles to date, and provides user access from anywhere as a web application, as a browser plug-in for Google Chrome, or within existing Recruiting CRM, ATS, or HRIS system through an API. With staff hailing from VMWare, eBay, and LinkedIn, TalentBin is funded by First Round Capital, Charles River Ventures, and Ron Conway's SV Angel. For more, visit www.talentbin.com.Press Contact:Jennifer HeritsResound Marketing609-279-0050 x103jennifer@resoundmarketing.comSOURCE TalentBin

2021-10-30 14:12:24.941560

BRIEF-POZEN's vimovo gets marketing nod in UK

https://www.cnbc.com/2010/11/11/briefpozens-vimovo-gets-marketing-nod-in-uk.html

2010-11-12T00:54:35+0000

CNBC

Nov 12 (Reuters) - Pozen Inc: * Says was notified by Astrazeneca that marketing and pricing approval for vimovo been granted in United Kingdom * Says will receive a $25 million milestone payment within 20 days * Says confirming its 2010 year-end guidance will be net income of $21-$23 million * Says year-end cash guidance is anticipated to be $63-$65 million ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)) (For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

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<div class="group"><p>Nov 12 (Reuters) - Pozen Inc: * Says was notified by Astrazeneca that marketing and pricing approval for vimovo been granted in United Kingdom * Says will receive a $25 million milestone payment within 20 days * Says confirming its 2010 year-end guidance will be net income of $21-$23 million * Says year-end cash guidance is anticipated to be $63-$65 million ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)) (For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.</p><p>The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.</p></div>

Nov 12 (Reuters) - Pozen Inc: * Says was notified by Astrazeneca that marketing and pricing approval for vimovo been granted in United Kingdom * Says will receive a $25 million milestone payment within 20 days * Says confirming its 2010 year-end guidance will be net income of $21-$23 million * Says year-end cash guidance is anticipated to be $63-$65 million ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)) (For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

2021-10-30 14:12:25.038308

Three major pharmaceutical companies just reported earnings — here's how they did

https://www.cnbc.com/2019/04/30/3-major-pharma-companies-just-reported-earning-heres-how-they-did.html

2019-04-30T11:20:40+0000

Berkeley Lovelace Jr.

CNBC

Shares of pharmaceutical giants Pfizer and Merck both rose by about 1% Tuesday after reporting first-quarter financial results that beat Wall Street's expectations.However, shares of drug giant Eli Lilly dropped as much as 3.5% after releasing first-quarter earnings that topped profit expectations, but missed on revenue. Sales of two of Lilly's key drugs, Trulicity and Alimta, fell short of Wall Street's forecasts. Merck's earnings got a slight lift from sales of cancer immunotherapy drug Keytruda and vaccines — amid the worst measles outbreak since health officials declared the disease eradicated from the U.S. in 2000.

cnbc, Articles, Health Care Select Sector SPDR Fund, Investment strategy, Markets, Eli Lilly and Co, Merck & Co Inc, Pfizer Inc, Earnings, Breaking News: Business, Business, Biotech and Pharmaceuticals, Health care industry, Health & Science, Business News, Investing, source:tagname:CNBC US Source

<div class="group"><p>Shares of pharmaceutical giants <a href="//www.cnbc.com/quotes/PFE" target="_blank">Pfizer</a> and <a href="//www.cnbc.com/quotes/MRK" target="_blank">Merck</a> both rose by about 1% Tuesday after reporting first-quarter financial results that beat Wall Street's expectations.</p><p>However, shares of drug giant <a href="//www.cnbc.com/quotes/LLY" target="_blank">Eli Lilly</a> dropped as much as 3.5% after releasing first-quarter earnings that topped profit expectations, but missed on revenue. Sales of two of Lilly's key drugs, Trulicity and Alimta, fell short of Wall Street's forecasts. Merck's earnings got a slight lift from sales of cancer immunotherapy drug Keytruda and vaccines — amid the worst measles outbreak since health officials declared the disease eradicated from the U.S. in 2000.</p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>Health care has been the worst-performing sector in the stock market this year on concerns about drug price reform and "Medicare for All" proposals from Democratic lawmakers. The <a href="https://www.cnbc.com/quotes/XLV">Health Care Select Sector SPDR Fund</a>, an ETF that tracks the health-care industry's biggest companies, had risen by just 2.7% year to date as of Monday, significantly lagging the broader market indexes. The Dow Jones Industrial Average was up 13% over the same period, and the S&amp;P 500 was 17% higher.</p></div>,<div class="group"><p>Eli Lilly posted earnings $1.33 per share on revenue of $5.09 billion. Analysts had expected earnings of $1.31 a share on revenue of $5.12 billion.</p><p>The company said it expects further price declines in the United States this year as well as increased competition from generics, including for erectile dysfunction drug Cialis.</p><p>Trulicity, the company's top-selling diabetes drug, brought in $879.7 million in the quarter. That was an increase of 30% compared with the first quarter of 2018 but below the $952 million analysts had expected. Sales of cancer drug Alimta came in flat compared with last year at $499 million.</p><p>The U.S. drugmaker now expects full-year revenue between $22 billion and $22.5 billion, lower than a previous forecast of of $25.1 billion to $25.6 billion. However, it raised its adjusted full-year earnings forecast by 5 cents to $5.60 to $5.70 per share.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Lilly has been facing pressure from Congress to lower prescription drug costs. In March, the company disclosed for the first time what it charges wholesalers versus what many patients typically pay. It also announced plans to sell a <a href="https://www.cnbc.com/2019/03/04/lilly-to-launch-a-half-price-version-of-insulin.html">half-price version of insulin injection Humalog</a>.</p></div>,<div class="group"><p>The company reported first-quarter earnings of $1.22 per share, beating analysts' expectations of $1.06 a share. Revenue came in at $10.81 billion, topping estimates of $10.48 billion.</p><p>Merck said sales of Keytruda surged 55% in the quarter to $2.27 billion. Keytruda, which boosts the immune system to attack cancer, has driven growth for Merck and put pressure on Bristol-Myers Squibb's rival drug Opdivo.</p></div>,<div class="group"><p>Merck's Gardasil vaccine to prevent certain types of cancer also had a good quarter with sales up 27% to $838 million. Sales of children's vaccines, which includes the company's MMR vaccine for measles, jumped 27% to $496 million.</p><p>The drug giant raised its earnings guidance for the year. It now expects full-year adjusted earnings per share of between $4.67 and $4.79, up from its prior forecast of $4.57 to $4.72.</p></div>,<div class="group"><p>Pfizer earned 85 cents per share in the first quarter, beating Wall Street estimates by 10 cents. The company reported revenue of $13.12 billion, higher than the $12.99 billion forecast.</p><p>CEO Albert Bourla, who succeeded Ian Read on Jan. 1, shuffled the company's senior management team last year and is leading efforts to restructure the pharmaceutical giant into a more nimble company. Pfizer has been trying to bulk up its pipeline of drugs and therapies, especially in oncology, ahead of impending patent expirations.</p><p>Pfizer's blockbuster drug Lyrica, which treats nerve pain and is expected to face generic competition this year, brought in sales of $1.19 billion.</p><p>The New York-based drug company also raised its earnings per share forecast by a cent. It now expects between $2.83 to $2.93 per share.</p><div class="ArticleBody-blockquote"><p>For more on investing in health-care innovation, <a href="https://cnbcevents.com/healthy-returns/" target="_blank">click here</a> to join CNBC at our Healthy Returns Summit in New York City on May 21.</p></div></div>

Shares of pharmaceutical giants Pfizer and Merck both rose by about 1% Tuesday after reporting first-quarter financial results that beat Wall Street's expectations.However, shares of drug giant Eli Lilly dropped as much as 3.5% after releasing first-quarter earnings that topped profit expectations, but missed on revenue. Sales of two of Lilly's key drugs, Trulicity and Alimta, fell short of Wall Street's forecasts. Merck's earnings got a slight lift from sales of cancer immunotherapy drug Keytruda and vaccines — amid the worst measles outbreak since health officials declared the disease eradicated from the U.S. in 2000.Health care has been the worst-performing sector in the stock market this year on concerns about drug price reform and "Medicare for All" proposals from Democratic lawmakers. The Health Care Select Sector SPDR Fund, an ETF that tracks the health-care industry's biggest companies, had risen by just 2.7% year to date as of Monday, significantly lagging the broader market indexes. The Dow Jones Industrial Average was up 13% over the same period, and the S&P 500 was 17% higher.Eli Lilly posted earnings $1.33 per share on revenue of $5.09 billion. Analysts had expected earnings of $1.31 a share on revenue of $5.12 billion.The company said it expects further price declines in the United States this year as well as increased competition from generics, including for erectile dysfunction drug Cialis.Trulicity, the company's top-selling diabetes drug, brought in $879.7 million in the quarter. That was an increase of 30% compared with the first quarter of 2018 but below the $952 million analysts had expected. Sales of cancer drug Alimta came in flat compared with last year at $499 million.The U.S. drugmaker now expects full-year revenue between $22 billion and $22.5 billion, lower than a previous forecast of of $25.1 billion to $25.6 billion. However, it raised its adjusted full-year earnings forecast by 5 cents to $5.60 to $5.70 per share.Lilly has been facing pressure from Congress to lower prescription drug costs. In March, the company disclosed for the first time what it charges wholesalers versus what many patients typically pay. It also announced plans to sell a half-price version of insulin injection Humalog.The company reported first-quarter earnings of $1.22 per share, beating analysts' expectations of $1.06 a share. Revenue came in at $10.81 billion, topping estimates of $10.48 billion.Merck said sales of Keytruda surged 55% in the quarter to $2.27 billion. Keytruda, which boosts the immune system to attack cancer, has driven growth for Merck and put pressure on Bristol-Myers Squibb's rival drug Opdivo.Merck's Gardasil vaccine to prevent certain types of cancer also had a good quarter with sales up 27% to $838 million. Sales of children's vaccines, which includes the company's MMR vaccine for measles, jumped 27% to $496 million.The drug giant raised its earnings guidance for the year. It now expects full-year adjusted earnings per share of between $4.67 and $4.79, up from its prior forecast of $4.57 to $4.72.Pfizer earned 85 cents per share in the first quarter, beating Wall Street estimates by 10 cents. The company reported revenue of $13.12 billion, higher than the $12.99 billion forecast.CEO Albert Bourla, who succeeded Ian Read on Jan. 1, shuffled the company's senior management team last year and is leading efforts to restructure the pharmaceutical giant into a more nimble company. Pfizer has been trying to bulk up its pipeline of drugs and therapies, especially in oncology, ahead of impending patent expirations.Pfizer's blockbuster drug Lyrica, which treats nerve pain and is expected to face generic competition this year, brought in sales of $1.19 billion.The New York-based drug company also raised its earnings per share forecast by a cent. It now expects between $2.83 to $2.93 per share.For more on investing in health-care innovation, click here to join CNBC at our Healthy Returns Summit in New York City on May 21.

2021-10-30 14:12:25.389423

Some voters are scared the coronavirus will stop them from casting a ballot

https://www.cnbc.com/2020/06/01/some-voters-are-scared-coronavirus-will-stop-them-from-casting-ballot.html

2020-06-01T20:01:48+0000

Yelena Dzhanova

CNBC

Erica Friedle had not missed a vote in seven years. Then came the coronavirus pandemic.Friedle told CNBC she didn't receive her absentee ballot for April's Wisconsin presidential primary. And now she fears that a lack of preparation by state officials and the continued threat of the disease might force her to sit out the upcoming November election in the swing state. As health officials predict that the pandemic might last into the fall, many states are beginning to plan for the likelihood of people opting to vote by mail instead of showing up in person, where the risk of contracting and spreading the coronavirus is greater. For some people, the coronavirus has made voting a nerve-wracking action. Some Americans and voting rights groups are concerned that the pandemic is forcing voters to choose between avoiding contact with people to stay healthy and exercising their right to vote. Come November, these concerns might linger."Are people going to want to stay in line to vote? Are people going to be requesting absentee ballots? Do people even have the technology to request a ballot online?" Friedle asked, listing out some of her immediate worries in an interview with CNBC. "There are so many unknowns right now."The Wisconsin primary in particular has been criticized for its disorganization and last-minute changes, leading to voter confusion and disenfranchisement and serves as an example of what voting rights groups hope will not happen in November.Complicating matters, President Donald Trump and members of the Republican Party are on the attack against widespread mail-in voting while Democrats push for expanded access. Late last month, Trump threatened to withhold funding from Michigan and Nevada for expanding their mail-in voting services in an effort to avoid crowded polling centers during the coronavirus pandemic. "More and more states are allowing vote-by-mail without voters having to provide a reason or excuse for it," said Andrea Hailey, CEO of Vote.org, a nonprofit focusing on advancing voter ballot access. "Other states are mailing applications to voters, which is critical for ensuring that all voters can participate in the electoral process."More than half, or 54%, of Americans said they would back voting by mail in the upcoming presidential election if the pandemic persists, according to an April Morning Consult poll. And 66% of surveyed Americans said in March that they were concerned about voting in person during the coronavirus outbreak. "We are seeing signs that voters are registering at numbers unseen from our organization, and that they are very much interested in voting by absentee," Hailey told CNBC in an email.But mail-in voting can bring its own concerns, especially if there are underlying circumstances that affect support, such as the potential for U.S. Postal Service operation failure or miscommunication between state officials and voters.Friedle, a second-grade teacher, said she applied for an absentee ballot but did not receive it ahead of the Wisconsin presidential primary on April 7. She is a single mother with a 10-year-old child, sharing custody with her ex-husband, a scientist at a large pharmaceutical company who at the time of the primary had been working on a vaccine for Covid-19.The combination of being unable to leave her child alone and fearing getting sick at the polls made Friedle miss the vote.  "I didn't want to put myself at risk for getting sick," she said. "I've been taking care of my daughter the whole time. Her father works crazy hours, and at that time, he was telling me he might get locked out in his work, that he wouldn't be able to leave his work."She added: "That just made me nervous. Who's gonna watch my daughter?" Friedle, 41, is not within the most vulnerable age group for contracting the most severe form of the virus. But there's still a lot at stake for people like Friedle: parents with young kids or teachers whose students are relying on them even as online classes persist. Knowing the risks, Friedle chose instead to skip out on voting. She feared if she contracted the virus, she would pass it on to her daughter or potentially be unable to teach. Voting rights groups stress that the most susceptible people are "older voters and people with pre-existing conditions," according to Brett Edkins, political director at New York-based Stand Up America, a nonprofit focused on advancing Democratic goals. "Children and younger parents are at relatively low risk of becoming seriously ill. Election experts across the partisan divide say that mail-in voting is the safest alternative to in-person voting."But Friedle's experience during the Wisconsin primary gave her a taste of what November might look like for her and other voters across the nation, she said. She's hoping to see her state take action in the coming months to reduce the likelihood of people experiencing what she did. This includes "having multiple ways to vote, whether you want to vote early, via an absentee ballot or in person."At the same time, she's concerned about whether officials are considering the feasibility of these moves. "How can we do that? How can we do it safely so people aren't being exposed to germs or viruses?" she asked. "Lots of organizations are out there that drive people to the polls. Are people still organizing these things with Covid going on?"In other states, some voters are concerned that there won't be enough done to make in-person voting safer. Angel Wells, a frequent voter and a self-described human rights activist based in Arizona, said that's what's driving her fears today. Voting can get chaotic in Arizona, said Wells, a veteran. In her voting area, "there are 64 voting offices where you can cast your vote. But that's not enough when you live in a valley with millions of people.""When people go out to vote, those lines are long. The polling booths are close [together]. They're not six feet apart. How are we supposed to have this vote and keep within health guidelines?" "People are rightly concerned about having to choose between their right to vote and their health," Edkins of Stand Up America said. "I think we're hearing a lot of those concerns from our community and from voters everywhere."

cnbc, Articles, Arizona, Wisconsin, Politics, Elections, COVID-19, Coronavirus, Voting rights, Voter registration, Voting, Absentee voting, United States Presidential Election, 2020 United States Presidential Election, White House, US: News, 2020 Elections, source:tagname:CNBC US Source

<div class="group"><p>Erica Friedle had not missed a vote in seven years. Then came the coronavirus pandemic.</p><p>Friedle told CNBC she didn't receive her absentee ballot for April's Wisconsin presidential primary. And now she fears that a lack of preparation by state officials and the continued threat of the disease might force her to sit out the upcoming November election in the swing state. </p><div style="height:100%" class="lazyload-placeholder"></div><p>As health officials predict that the pandemic might last into the fall, many states are beginning to <a href="https://www.cnbc.com/2020/05/10/coronavirus-states-take-precautions-to-prevent-disrupted-elections.html">plan for the likelihood of people opting to vote by mail</a> instead of showing up in person, where the risk of contracting and spreading the coronavirus is greater. </p><p>For some people, the coronavirus has made voting a nerve-wracking action. Some Americans and voting rights groups are concerned that the pandemic is forcing voters to choose between avoiding contact with people to stay healthy and exercising their right to vote. Come November, these concerns might linger.</p><p>"Are people going to want to stay in line to vote? Are people going to be requesting absentee ballots? Do people even have the technology to request a ballot online?" Friedle asked, listing out some of her immediate worries in an interview with CNBC. "There are so many unknowns right now."</p><p>The Wisconsin primary in particular has been criticized for its <a href="https://www.cnbc.com/2020/04/07/coronavirus-update-wisconsin-votes-in-primary-election.html">disorganization and last-minute changes</a>, leading to voter confusion and <a href="https://www.vox.com/2020/4/7/21212053/wisconsin-election-coronavirus-disenfranchised-voters" target="_blank">disenfranchisement</a> and serves as an example of what voting rights groups hope will not happen in November.</p><p>Complicating matters, President Donald Trump and members of the Republican Party are on the attack against widespread mail-in voting while Democrats push for expanded access. Late last month, Trump threatened to <a href="https://www.cnbc.com/2020/05/20/coronavirus-trump-threatens-michigan-funding-for-mail-in-voting-expansion.html">withhold funding from Michigan and Nevada</a> for expanding their mail-in voting services in an effort to avoid crowded polling centers during the coronavirus pandemic. </p><div style="height:100%" class="lazyload-placeholder"></div><p>"More and more states are allowing vote-by-mail without voters having to provide a reason or excuse for it," said Andrea Hailey, CEO of Vote.org, a nonprofit focusing on advancing voter ballot access. "Other states are mailing applications to voters, which is critical for ensuring that all voters can participate in the electoral process."</p><p>More than half, or 54%, of Americans said they would <a href="https://morningconsult.com/2020/04/10/mail-vote-election-pandemic/" target="_blank">back voting by mail in the upcoming presidential election</a> if the pandemic persists, according to an April Morning Consult poll. And 66% of surveyed Americans said in March that they were <a href="https://morningconsult.com/2020/03/20/voting-options-poll-coronavirus/" target="_blank">concerned about voting in person</a> during the coronavirus outbreak. </p><p>"We are seeing signs that voters are registering at numbers unseen from our organization, and that they are very much interested in voting by absentee," Hailey told CNBC in an email.</p><p>But mail-in voting can bring its own concerns, especially if there are underlying circumstances that affect support, such as the <a href="https://www.cnbc.com/2020/05/22/coronavirus-postal-service-financial-stress-might-threaten-voter-turnout.html">potential for U.S. Postal Service operation failure</a> or miscommunication between state officials and voters.</p><p>Friedle, a second-grade teacher, said she applied for an absentee ballot but did not receive it ahead of the Wisconsin presidential primary on April 7. She is a single mother with a 10-year-old child, sharing custody with her ex-husband, a scientist at a large pharmaceutical company who at the time of the primary had been working on a vaccine for Covid-19.</p><p>The combination of being unable to leave her child alone and fearing getting sick at the polls made Friedle miss the vote.  </p><p>"I didn't want to put myself at risk for getting sick," she said. "I've been taking care of my daughter the whole time. Her father works crazy hours, and at that time, he was telling me he might get locked out in his work, that he wouldn't be able to leave his work."</p><p>She added: "That just made me nervous. Who's gonna watch my daughter?" </p><p>Friedle, 41, is not within the most vulnerable age group for contracting the most severe form of the virus.<strong> </strong>But there's still a lot at stake for people like Friedle: parents with young kids or teachers whose students are relying on them even as online classes persist. Knowing the risks, Friedle chose instead to skip out on voting. She feared if she contracted the virus, she would pass it on to her daughter or potentially be unable to teach. </p><p>Voting rights groups stress that the most susceptible people are "older voters and people with pre-existing conditions," according to Brett Edkins, political director at New York-based Stand Up America, a nonprofit focused on advancing Democratic goals. "Children and younger parents are at relatively low risk of becoming seriously ill. Election experts across the partisan divide say that mail-in voting is the safest alternative to in-person voting."</p><p>But Friedle's experience during the Wisconsin primary gave her a taste of what November might look like for her and other voters across the nation, she said. </p><p>She's hoping to see her state take action in the coming months to reduce the likelihood of people experiencing what she did. This includes "having multiple ways to vote, whether you want to vote early, via an absentee ballot or in person."</p><p>At the same time, she's concerned about whether officials are considering the feasibility of these moves. "How can we do that? How can we do it safely so people aren't being exposed to germs or viruses?" she asked. "Lots of organizations are out there that drive people to the polls. Are people still organizing these things with Covid going on?"</p><p>In other states, some voters are concerned that there won't be enough done to make in-person voting safer. </p><p>Angel Wells, a frequent voter and a self-described human rights activist based in Arizona, said that's what's driving her fears today. </p><p>Voting can get chaotic in Arizona, said Wells, a veteran. In her voting area, "there are 64 voting offices where you can cast your vote. But that's not enough when you live in a valley with millions of people."</p><p>"When people go out to vote, those lines are long. The polling booths are close [together]. They're not six feet apart. How are we supposed to have this vote and keep within health guidelines?" </p><p>"People are rightly concerned about having to choose between their right to vote and their health," Edkins of Stand Up America said. "I think we're hearing a lot of those concerns from our community and from voters everywhere."</p></div>,<div class="group"><p>Friedle's experience illustrates that much of the burden to acquire an absentee ballot was placed on her. She said she emailed the city clerk when she realized she didn't have her absentee ballot, asking for guidance in obtaining one. The city clerk shot back an email the day of the election, she told CNBC, attaching a ballot that needed to be printed, filled out and hand-delivered. Handing in the ballot wasn't worth the risk to her health, she said.</p><p>The District of Columbia and 34 states, including five that conduct all-mail voting, use no-excuse absentee voting, according to the <a href="https://www.ncsl.org/research/elections-and-campaigns/vopp-table-1-states-with-no-excuse-absentee-voting.aspx" target="_blank">bipartisan National Conference of State Legislatures</a>. But even so, a lot of those states don't typically send out absentee ballots unless a registered voter requests one. California is the most recent state to announce that all registered voters <a href="https://www.cnbc.com/2020/05/08/coronavirus-in-california-newsom-says-residents-can-vote-by-mail-in-november.html">will receive a mail-in ballot</a> for November's election because of the challenges brought on by the pandemic.</p><p>At the same time, voting rights groups and registered voters recognize that there will be people still opting to show up and vote at the polls in November. </p><p>"Expanding vote-by-mail options is exactly what more communities need, but we must also ensure that it is safe to vote in person," said Vote.org's Hailey. "That is why it should be a top priority for governments at all levels to fully fund our elections, that we have at least 20 days of early voting and that poll workers can conduct our elections in sanitary, safe conditions for our communities to vote in person as well."</p><p>That's the question many states are trying to answer right now, grappling with early preparations for the execution of the November election and trying to rethink voting. </p><p>"Nobody who's under 100 years old has run an election during a pandemic," Edkins of Stand Up America said. To decrease the risk of spreading the coronavirus, state officials are going to have to "train on a very local level to prepare people," he told CNBC. That includes finding ways to maintain a standard six feet of distance between voters, having hand sanitizer and personal protective equipment readily available, regularly disinfecting voting booths and employing cough guards. </p><p>Officials also have to take into account how volunteers and poll workers will engage with voters, Edkins said. It's important to remember to keep "distance from voters who are often right next to poll workers verifying their signatures and signing them in to vote. I think they're going to have to think through all those procedures."</p><p>Already, there's been considerable advancement in the nationwide expansion of ballot access, Edkins said, adding that "most states are making good progress."</p><p>"Multiple states have added Covid as a reason and an excuse to get an absentee ballot."</p><p>Many of the voting changes transcend party lines, Edkins said. Vote-by-mail expansion is coming "not just from Democratic states, but also Republican states with local election officials that are making these changes as well." </p><p>It's too early to tell how these changes will affect voter turnout in November. For some voters, the concern is that these changes may not be enough to get the highest participation level possible. </p><p>"Voting is incredibly important," Friedle said. "It's our opportunity to put people in power to make a difference. The people who are making those choices have an impact in my life."</p></div>

Erica Friedle had not missed a vote in seven years. Then came the coronavirus pandemic.Friedle told CNBC she didn't receive her absentee ballot for April's Wisconsin presidential primary. And now she fears that a lack of preparation by state officials and the continued threat of the disease might force her to sit out the upcoming November election in the swing state. As health officials predict that the pandemic might last into the fall, many states are beginning to plan for the likelihood of people opting to vote by mail instead of showing up in person, where the risk of contracting and spreading the coronavirus is greater. For some people, the coronavirus has made voting a nerve-wracking action. Some Americans and voting rights groups are concerned that the pandemic is forcing voters to choose between avoiding contact with people to stay healthy and exercising their right to vote. Come November, these concerns might linger."Are people going to want to stay in line to vote? Are people going to be requesting absentee ballots? Do people even have the technology to request a ballot online?" Friedle asked, listing out some of her immediate worries in an interview with CNBC. "There are so many unknowns right now."The Wisconsin primary in particular has been criticized for its disorganization and last-minute changes, leading to voter confusion and disenfranchisement and serves as an example of what voting rights groups hope will not happen in November.Complicating matters, President Donald Trump and members of the Republican Party are on the attack against widespread mail-in voting while Democrats push for expanded access. Late last month, Trump threatened to withhold funding from Michigan and Nevada for expanding their mail-in voting services in an effort to avoid crowded polling centers during the coronavirus pandemic. "More and more states are allowing vote-by-mail without voters having to provide a reason or excuse for it," said Andrea Hailey, CEO of Vote.org, a nonprofit focusing on advancing voter ballot access. "Other states are mailing applications to voters, which is critical for ensuring that all voters can participate in the electoral process."More than half, or 54%, of Americans said they would back voting by mail in the upcoming presidential election if the pandemic persists, according to an April Morning Consult poll. And 66% of surveyed Americans said in March that they were concerned about voting in person during the coronavirus outbreak. "We are seeing signs that voters are registering at numbers unseen from our organization, and that they are very much interested in voting by absentee," Hailey told CNBC in an email.But mail-in voting can bring its own concerns, especially if there are underlying circumstances that affect support, such as the potential for U.S. Postal Service operation failure or miscommunication between state officials and voters.Friedle, a second-grade teacher, said she applied for an absentee ballot but did not receive it ahead of the Wisconsin presidential primary on April 7. She is a single mother with a 10-year-old child, sharing custody with her ex-husband, a scientist at a large pharmaceutical company who at the time of the primary had been working on a vaccine for Covid-19.The combination of being unable to leave her child alone and fearing getting sick at the polls made Friedle miss the vote.  "I didn't want to put myself at risk for getting sick," she said. "I've been taking care of my daughter the whole time. Her father works crazy hours, and at that time, he was telling me he might get locked out in his work, that he wouldn't be able to leave his work."She added: "That just made me nervous. Who's gonna watch my daughter?" Friedle, 41, is not within the most vulnerable age group for contracting the most severe form of the virus. But there's still a lot at stake for people like Friedle: parents with young kids or teachers whose students are relying on them even as online classes persist. Knowing the risks, Friedle chose instead to skip out on voting. She feared if she contracted the virus, she would pass it on to her daughter or potentially be unable to teach. Voting rights groups stress that the most susceptible people are "older voters and people with pre-existing conditions," according to Brett Edkins, political director at New York-based Stand Up America, a nonprofit focused on advancing Democratic goals. "Children and younger parents are at relatively low risk of becoming seriously ill. Election experts across the partisan divide say that mail-in voting is the safest alternative to in-person voting."But Friedle's experience during the Wisconsin primary gave her a taste of what November might look like for her and other voters across the nation, she said. She's hoping to see her state take action in the coming months to reduce the likelihood of people experiencing what she did. This includes "having multiple ways to vote, whether you want to vote early, via an absentee ballot or in person."At the same time, she's concerned about whether officials are considering the feasibility of these moves. "How can we do that? How can we do it safely so people aren't being exposed to germs or viruses?" she asked. "Lots of organizations are out there that drive people to the polls. Are people still organizing these things with Covid going on?"In other states, some voters are concerned that there won't be enough done to make in-person voting safer. Angel Wells, a frequent voter and a self-described human rights activist based in Arizona, said that's what's driving her fears today. Voting can get chaotic in Arizona, said Wells, a veteran. In her voting area, "there are 64 voting offices where you can cast your vote. But that's not enough when you live in a valley with millions of people.""When people go out to vote, those lines are long. The polling booths are close [together]. They're not six feet apart. How are we supposed to have this vote and keep within health guidelines?" "People are rightly concerned about having to choose between their right to vote and their health," Edkins of Stand Up America said. "I think we're hearing a lot of those concerns from our community and from voters everywhere."Friedle's experience illustrates that much of the burden to acquire an absentee ballot was placed on her. She said she emailed the city clerk when she realized she didn't have her absentee ballot, asking for guidance in obtaining one. The city clerk shot back an email the day of the election, she told CNBC, attaching a ballot that needed to be printed, filled out and hand-delivered. Handing in the ballot wasn't worth the risk to her health, she said.The District of Columbia and 34 states, including five that conduct all-mail voting, use no-excuse absentee voting, according to the bipartisan National Conference of State Legislatures. But even so, a lot of those states don't typically send out absentee ballots unless a registered voter requests one. California is the most recent state to announce that all registered voters will receive a mail-in ballot for November's election because of the challenges brought on by the pandemic.At the same time, voting rights groups and registered voters recognize that there will be people still opting to show up and vote at the polls in November. "Expanding vote-by-mail options is exactly what more communities need, but we must also ensure that it is safe to vote in person," said Vote.org's Hailey. "That is why it should be a top priority for governments at all levels to fully fund our elections, that we have at least 20 days of early voting and that poll workers can conduct our elections in sanitary, safe conditions for our communities to vote in person as well."That's the question many states are trying to answer right now, grappling with early preparations for the execution of the November election and trying to rethink voting. "Nobody who's under 100 years old has run an election during a pandemic," Edkins of Stand Up America said. To decrease the risk of spreading the coronavirus, state officials are going to have to "train on a very local level to prepare people," he told CNBC. That includes finding ways to maintain a standard six feet of distance between voters, having hand sanitizer and personal protective equipment readily available, regularly disinfecting voting booths and employing cough guards. Officials also have to take into account how volunteers and poll workers will engage with voters, Edkins said. It's important to remember to keep "distance from voters who are often right next to poll workers verifying their signatures and signing them in to vote. I think they're going to have to think through all those procedures."Already, there's been considerable advancement in the nationwide expansion of ballot access, Edkins said, adding that "most states are making good progress.""Multiple states have added Covid as a reason and an excuse to get an absentee ballot."Many of the voting changes transcend party lines, Edkins said. Vote-by-mail expansion is coming "not just from Democratic states, but also Republican states with local election officials that are making these changes as well." It's too early to tell how these changes will affect voter turnout in November. For some voters, the concern is that these changes may not be enough to get the highest participation level possible. "Voting is incredibly important," Friedle said. "It's our opportunity to put people in power to make a difference. The people who are making those choices have an impact in my life."

2021-10-30 14:12:25.597655

"Bussiness Nation" Will Air On April 18th

https://www.cnbc.com/2007/04/16/bussiness-nation-will-air-on-april-18th.html

2007-04-16T18:58:07+0000

CNBC

A repeat of CNBC's "Business Nation" will air on Wednesday, April 18th at 9 PM and 12 AM ET.  The original show aired on April 4th.About CNBC:CNBC is the recognized world leader in business news, providing real-time financial market coverage and business information to more than 340 million homes worldwide, including more than 95 million households in the United States and Canada. The network's Business Day programming (weekdays from 5:00 a.m.-7:00 p.m. ET) is produced at CNBC's headquarters in Englewood Cliffs, N.J., and also includes reports from CNBC news bureaus worldwide. Additionally, CNBC viewers can manage their individual investment portfolios and gain additional in-depth information from on-air reports by accessing http://www.cnbc.com.Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://nbcumv.com/cnbc/.

cnbc, Articles, CNBC Information and Policies, CNBC: News Releases, source:tagname:CNBC US Source

<div class="group"><p>A repeat of CNBC's "<a href="#">Business Nation</a>" will air on Wednesday, April 18th at 9 PM and 12 AM ET.  The original show aired on April 4th.<br><br><br><br><strong>About CNBC:<br></strong>CNBC is the recognized world leader in business news, providing real-time financial market coverage and business information to more than 340 million homes worldwide, including more than 95 million households in the United States and Canada. The network's Business Day programming (weekdays from 5:00 a.m.-7:00 p.m. ET) is produced at CNBC's headquarters in Englewood Cliffs, N.J., and also includes reports from CNBC news bureaus worldwide. Additionally, CNBC viewers can manage their individual investment portfolios and gain additional in-depth information from on-air reports by accessing <a href="#">http://www.cnbc.com</a>.<br><br>Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at <a href="http://nbcumv.com/cnbc/" target="_blank">http://nbcumv.com/cnbc/</a>.</p></div>

A repeat of CNBC's "Business Nation" will air on Wednesday, April 18th at 9 PM and 12 AM ET.  The original show aired on April 4th.About CNBC:CNBC is the recognized world leader in business news, providing real-time financial market coverage and business information to more than 340 million homes worldwide, including more than 95 million households in the United States and Canada. The network's Business Day programming (weekdays from 5:00 a.m.-7:00 p.m. ET) is produced at CNBC's headquarters in Englewood Cliffs, N.J., and also includes reports from CNBC news bureaus worldwide. Additionally, CNBC viewers can manage their individual investment portfolios and gain additional in-depth information from on-air reports by accessing http://www.cnbc.com.Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://nbcumv.com/cnbc/.

2021-10-30 14:12:25.630033

Everybody's missing how Apple's 'subtle' approach could drive its stock higher, says tech investor Gene Munster

https://www.cnbc.com/2019/03/25/apples-subtle-approach-could-drive-shares-higher-says-gene-munster.html

2019-03-25T22:13:40+0000

Michelle Fox

CNBC

Apple's big event may have failed to impress investors on Monday — but those investors are actually missing the point of the tech giant's new services, tech investor Gene Munster told CNBC on Monday.Shares of Apple closed down 1.2 percent after the highly anticipated event, which introduced its streaming video service Apple TV+, a paid news service Apple News+ , a credit card and a gaming service called Arcade. Apple did not announce many details about the services, including pricing for TV+ and Arcade. But Munster says investors who focus on the missing details are missing the bigger picture."What Apple is saying is they are going to take things that we interact with every day -- whether it's the streaming service, gaming or our credit card – and we're going to try to change in terms how people use that. The language that they use is 'enriching people's lives,'" said Munster, founder of the venture capitalist firm Loup Ventures.That means creating content that isn't typical, gaming that's healthier, and a credit card that adds transparency, he added."That gets lost in the conversation today — these subtle little approaches that Apple does to make our lives just a little bit better. And I think that ultimately is going to yield a higher share price," Munster said on "Fast Money."

cnbc, Articles, Apple Inc, Enterprise, Media, Entertainment, Internet, Technology, Amazon.com Inc, Netflix Inc, Technology: Companies, Fast Money, source:tagname:CNBC US Source

<div class="group"><p><a href="//www.cnbc.com/quotes/AAPL" target="_blank">Apple</a>'s big event may have failed to impress investors on Monday — but those investors are actually missing the point of the tech giant's new services, tech investor Gene Munster told CNBC on Monday.</p><p>Shares of Apple closed down 1.2 percent after <a href="https://www.cnbc.com/2019/03/25/apple-spring-tv-and-news-event-live-coverage.html">the highly anticipated event</a>, which introduced its streaming video service Apple TV+, a paid news service Apple News+ , a credit card and a gaming service called Arcade. Apple <a href="https://www.cnbc.com/2019/03/25/apple-services-announcement-lacking-critical-details.html">did not announce many details about the services</a>, including pricing for TV+ and Arcade. But Munster says investors who focus on the missing details are missing the bigger picture.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"What Apple is saying is they are going to take things that we interact with every day -- whether it's the streaming service, gaming or our credit card – and we're going to try to change in terms how people use that. The language that they use is 'enriching people's lives,'" said Munster, founder of the venture capitalist firm Loup Ventures.</p><p>That means creating content that isn't typical, gaming that's healthier, and a credit card that adds transparency, he added.</p><p>"That gets lost in the conversation today — these subtle little approaches that Apple does to make our lives just a little bit better. And I think that ultimately is going to yield a higher share price," Munster said on "<a href="https://www.cnbc.com/fast-money/">Fast Money</a>."</p></div>,<div class="group"><p>Apple is entering a crowded field of original programming, going up against established names like <a href="//www.cnbc.com/quotes/NFLX" target="_blank">Netflix</a> and <a href="//www.cnbc.com/quotes/AMZN" target="_blank">Amazon</a>. In its announcement on Monday, Apple called on big names like Steven Spielberg, Reese Witherspoon, Steve Carrell, Oprah Winfrey and Jennifer Aniston to discuss their upcoming shows.</p><p>The tech giant didn't say how many programs they have or how much the service would cost.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Munster said Apple probably has about 40 shows and movies — a "far cry" from Netflix's library. However, he still thinks Apple's foray into the space will hurt Netflix's stock.</p><p>"The quality of this is what is going to ultimately stand out and I suspect that the way that Apple is going to measure their success is the number of industry awards," he said. "This content, this different approach is going to have an impact and I think that that could be a similar size as Netflix, call it $15 billion a year"</p><p>Munster is projecting the four services together will yield about $20 billion or so in revenues in the next five years.</p><p><em>—CNBC's Kif Leswing contributed to this report.</em></p><p><a href="https://www.cnbc.com/stocks-disclaimer.html"><em>Disclaimer</em></a></p></div>

Apple's big event may have failed to impress investors on Monday — but those investors are actually missing the point of the tech giant's new services, tech investor Gene Munster told CNBC on Monday.Shares of Apple closed down 1.2 percent after the highly anticipated event, which introduced its streaming video service Apple TV+, a paid news service Apple News+ , a credit card and a gaming service called Arcade. Apple did not announce many details about the services, including pricing for TV+ and Arcade. But Munster says investors who focus on the missing details are missing the bigger picture."What Apple is saying is they are going to take things that we interact with every day -- whether it's the streaming service, gaming or our credit card – and we're going to try to change in terms how people use that. The language that they use is 'enriching people's lives,'" said Munster, founder of the venture capitalist firm Loup Ventures.That means creating content that isn't typical, gaming that's healthier, and a credit card that adds transparency, he added."That gets lost in the conversation today — these subtle little approaches that Apple does to make our lives just a little bit better. And I think that ultimately is going to yield a higher share price," Munster said on "Fast Money."Apple is entering a crowded field of original programming, going up against established names like Netflix and Amazon. In its announcement on Monday, Apple called on big names like Steven Spielberg, Reese Witherspoon, Steve Carrell, Oprah Winfrey and Jennifer Aniston to discuss their upcoming shows.The tech giant didn't say how many programs they have or how much the service would cost.Munster said Apple probably has about 40 shows and movies — a "far cry" from Netflix's library. However, he still thinks Apple's foray into the space will hurt Netflix's stock."The quality of this is what is going to ultimately stand out and I suspect that the way that Apple is going to measure their success is the number of industry awards," he said. "This content, this different approach is going to have an impact and I think that that could be a similar size as Netflix, call it $15 billion a year"Munster is projecting the four services together will yield about $20 billion or so in revenues in the next five years.—CNBC's Kif Leswing contributed to this report.Disclaimer

2021-10-30 14:12:26.004288

Is the Fed Prepping Markets for the End of QE?

https://www.cnbc.com/2013/05/13/is-the-fed-prepping-markets-for-the-end-of-qe.html

2013-05-13T06:09:57+0000

Dhara Ranasinghe

CNBC

If an article in Monday's Wall Street Journal is anything to go by, the U.S. Federal Reserve is getting ready to unwind its massive monetary stimulus program. And that prospect is unlikely to be as alarming for financial markets as feared, analysts tell CNBC. Fed officials have mapped out a strategy to wind down its $85 billion-a-month bond-buying program in careful steps, although the timing of when that will start is still being debated, noted Fed watcher Jon Hilsenrath wrote in the WSJ. Any unwinding of the Fed's quantitative easing (QE) program, which has fueled a rally in equity markets and other risk assets, is generally viewed as negative and any indication of this happening has been highly anticipated in the U.S. since late last week. (Read More: If I Were 'Dictator,'QE Would End Now, Fed's Lacker Says) "Having spent two New York sessions pricing in a sharp change in Fed stance, it is not obvious that the article was worth the wait," analysts at Westpac said in a note. "The timing of the unwinding of QE remains data-dependent, not a serious prospect until perhaps late U.S. summer at the earliest."Analysts say that in essence, the Fed appears to be managing market expectations that its quantitative easing program will not last forever.The Fed has said that it would maintain its key interest rate between zero and 0.25 percent until the unemployment rate fell to 6.5 percent. It has also committed to monthly purchases of bonds until labor market conditions improve substantially. (Read More: Are Bond Vigilantes Taking On the Fed?)

cnbc, Articles, Business News, Economy, Central Banks, source:tagname:CNBC Asia Source

<div class="group"><p>If an article in Monday's Wall Street Journal is anything to go by, the U.S. Federal Reserve is getting ready to unwind its massive monetary stimulus program. And that prospect is unlikely to be as alarming for financial markets as feared, analysts tell CNBC. <br></p><p>Fed officials have mapped out a strategy to wind down its $85 billion-a-month bond-buying program in careful steps, although the timing of when that will start is still being debated, noted Fed watcher Jon Hilsenrath wrote in the WSJ. <br></p><div style="height:100%" class="lazyload-placeholder"></div><p>Any unwinding of the Fed's quantitative easing (QE) program, which has fueled a rally in equity markets and other risk assets, is generally viewed as negative and any indication of this happening has been highly anticipated in the U.S. since late last week. <br></p><p>(<em>Read More</em>: <a href="https://www.cnbc.com/2013/04/18/if-i-were-dictator-qe-would-end-now-feds-lacker-says.html">If I Were 'Dictator,'QE Would End Now, Fed's Lacker Says</a>) <br></p><p>"Having spent two New York sessions pricing in a sharp change in Fed stance, it is not obvious that the article was worth the wait," analysts at Westpac said in a note. "The timing of the unwinding of QE remains data-dependent, not a serious prospect until perhaps late U.S. summer at the earliest."<br></p><p>Analysts say that in essence, the Fed appears to be managing market expectations that its quantitative easing program will not last forever.<br></p><p>The Fed has said that it would maintain its key interest rate between zero and 0.25 percent until the unemployment rate fell to 6.5 percent. It has also committed to monthly purchases of bonds until labor market conditions improve substantially. <br></p><div style="height:100%" class="lazyload-placeholder"></div><p>(<em>Read More</em>: <a href="https://www.cnbc.com/2013/05/12/are-bond-vigilantes-taking-on-the-fed.html">Are Bond Vigilantes Taking On the Fed?</a>) </p></div>,<div class="group"><p>And it is the recent signs of improvement in the jobs market that has renewed talk about a possible end to the quantitative easing. <br></p><p>The latest non-farm payrolls report showed the U.S. economy created 165,000 new jobs last month, much more than expected, helping push the unemployment rate down to 7.5 percent. Data last week meanwhile showed jobless claims at their <a href="https://www.cnbc.com/2013/05/09/us-jobless-claims-fall-to-lowest-level-in-almost-512-years.html">lowest level in almost 5-1/2 years.</a> <br></p><p>(<em>Read More</em>: <a href="https://www.cnbc.com/2013/05/03/back-in-business-jobs-picture-brightens-in-april.html">Back in Business: Jobs Picture Brightens in April</a>) <br></p><p>"The timing is still a bit uncertain, but our view is that there will be no more QE from the United States after December this year," said Geoff Lewis, global market strategist, J.P. Morgan Asset Management.<br></p><p>"They're [Fed officials] not going to raise interest rates they've told us that until unemployment comes down to 6.5 percent, but that could be as soon perhaps as the first half of next year," he added. <br></p><p>Lewis said that the Fed would have no choice but to taper off QE in the face of stronger economic news and that was unlikely to lead to alarm in equity markets that have thrived on the aggressive monetary stimulus.<br></p><p>U.S. stocks hit <a href="https://www.cnbc.com/2013/05/10/stocks-end-higher-for-third-week-dow-sp-500-close-at-new-highs.html">fresh highs on Friday</a>, while markets in Asia and Europe have also seen stellar gains this year. <br></p><p>"That [an easing of QE] would be good for U.S. stocks because it would mean the U.S. economy is doing a lot better," he said.<br></p><p>Martin Lakos, division director, Macquarie Private Wealth told CNBC Asia's "Squawk Box" that he also remained positive on the outlook for stocks.<br></p><p>"The central bank is clearly trying to massage markets that QE is not going to be around there forever. I don't think that is a big risk as they [the Fed] are managing expectations," he said. "We remain positive on equities over the next couple of years."<br></p><p><em>— By CNBC.Com's Dhara Ranasinghe; Follow her on Twitter at <a href="https://twitter.com/DharaCNBC" class="webresource" target="_blank">@DharaCNBC </a></em><br></p></div>

If an article in Monday's Wall Street Journal is anything to go by, the U.S. Federal Reserve is getting ready to unwind its massive monetary stimulus program. And that prospect is unlikely to be as alarming for financial markets as feared, analysts tell CNBC. Fed officials have mapped out a strategy to wind down its $85 billion-a-month bond-buying program in careful steps, although the timing of when that will start is still being debated, noted Fed watcher Jon Hilsenrath wrote in the WSJ. Any unwinding of the Fed's quantitative easing (QE) program, which has fueled a rally in equity markets and other risk assets, is generally viewed as negative and any indication of this happening has been highly anticipated in the U.S. since late last week. (Read More: If I Were 'Dictator,'QE Would End Now, Fed's Lacker Says) "Having spent two New York sessions pricing in a sharp change in Fed stance, it is not obvious that the article was worth the wait," analysts at Westpac said in a note. "The timing of the unwinding of QE remains data-dependent, not a serious prospect until perhaps late U.S. summer at the earliest."Analysts say that in essence, the Fed appears to be managing market expectations that its quantitative easing program will not last forever.The Fed has said that it would maintain its key interest rate between zero and 0.25 percent until the unemployment rate fell to 6.5 percent. It has also committed to monthly purchases of bonds until labor market conditions improve substantially. (Read More: Are Bond Vigilantes Taking On the Fed?) And it is the recent signs of improvement in the jobs market that has renewed talk about a possible end to the quantitative easing. The latest non-farm payrolls report showed the U.S. economy created 165,000 new jobs last month, much more than expected, helping push the unemployment rate down to 7.5 percent. Data last week meanwhile showed jobless claims at their lowest level in almost 5-1/2 years. (Read More: Back in Business: Jobs Picture Brightens in April) "The timing is still a bit uncertain, but our view is that there will be no more QE from the United States after December this year," said Geoff Lewis, global market strategist, J.P. Morgan Asset Management."They're [Fed officials] not going to raise interest rates they've told us that until unemployment comes down to 6.5 percent, but that could be as soon perhaps as the first half of next year," he added. Lewis said that the Fed would have no choice but to taper off QE in the face of stronger economic news and that was unlikely to lead to alarm in equity markets that have thrived on the aggressive monetary stimulus.U.S. stocks hit fresh highs on Friday, while markets in Asia and Europe have also seen stellar gains this year. "That [an easing of QE] would be good for U.S. stocks because it would mean the U.S. economy is doing a lot better," he said.Martin Lakos, division director, Macquarie Private Wealth told CNBC Asia's "Squawk Box" that he also remained positive on the outlook for stocks."The central bank is clearly trying to massage markets that QE is not going to be around there forever. I don't think that is a big risk as they [the Fed] are managing expectations," he said. "We remain positive on equities over the next couple of years."— By CNBC.Com's Dhara Ranasinghe; Follow her on Twitter at @DharaCNBC

2021-10-30 14:12:26.398053

Ted Nugent to Meet Secret Service Over Obama Words

https://www.cnbc.com/2012/04/18/ted-nugent-to-meet-secret-service-over-obama-words.html

2012-04-18T21:50:43+0000

CNBC

Ted Nugent says he'll meet with the Secret Service to explain his comments about President Barack Obama that some have interpreted as threatening.The hard rocker says it will be obvious when he talks to agents on Thursday that he didn't make any threats. Nugent spoke to radio interviewer Glenn Beck about the controversy.At last weekend's National Rifle Association convention, Nugent referred to what he called Obama's "evil, America-hating administration" and urged NRA members to "to ride into that battlefield and chop their heads off in November."

cnbc, Articles, Election 2012, source:tagname:The Associated Press

<div class="group"><p>Ted Nugent says he'll meet with the Secret Service to explain his comments about President Barack Obama that some have interpreted as threatening.</p><p>The hard rocker says it will be obvious when he talks to agents on Thursday that he didn't make any threats. Nugent spoke to radio interviewer Glenn Beck about the controversy.</p><div style="height:100%" class="lazyload-placeholder"></div><p>At last weekend's National Rifle Association convention, Nugent referred to what he called Obama's "evil, America-hating administration" and urged NRA members to "to ride into that battlefield and chop their heads off in November."</p></div>,<div class="group"><p>Nugent also said if Obama were re-elected, "I will either be dead or in jail by this time next year."</p><p>A Secret Service spokesman confirmed that the agency was following-up on the issue but would not give details.</p></div>

Ted Nugent says he'll meet with the Secret Service to explain his comments about President Barack Obama that some have interpreted as threatening.The hard rocker says it will be obvious when he talks to agents on Thursday that he didn't make any threats. Nugent spoke to radio interviewer Glenn Beck about the controversy.At last weekend's National Rifle Association convention, Nugent referred to what he called Obama's "evil, America-hating administration" and urged NRA members to "to ride into that battlefield and chop their heads off in November."Nugent also said if Obama were re-elected, "I will either be dead or in jail by this time next year."A Secret Service spokesman confirmed that the agency was following-up on the issue but would not give details.

2021-10-30 14:12:27.000504

CCTV Script 20/01/15

https://www.cnbc.com/2015/01/20/cctv-script-200115.html

2015-01-20T23:02:44+0000

CNBC

— This is the script of CNBC's news report for China's CCTV on January 20, Tuesday. 2015 has not only been volatile for commodities, the foreign exchange market has been topsy turvy as well, with some calling it the currency war. We've already seen cuts this year by India and Peru. The Swiss National Bank shocked markets last week by scrapping its 1,20 francs per euro cap. The Swiss central bank had earlier cut its rate down down to -1.25% to -0.25% range. Today, Denmark announced its own cut to its benchmark policy and lending rates and Japan's BoJ will announced their policy decision tomorrow, on the back of a two-day meeting. All eyes are now on the ECB and their policy meeting on Thursday. 90% of analysts expect a QE program from Mario Draghi and his team, with a medium predict of at least 550 billion euro.[Megan Greene, MD & Chief Economist, Manulife Asset Management] "My big fear is they are gonna actually engage in QE, and that its gonna be a total damp squid 071632 and then they will have used up all of their dry powder, so what else can they bring out to fight deflation."[Sean Darby, Global Head of Equity Strategy, Jefferies] "But the problem really is the central bank has got limited options to some extent in trying to increase inflation rate, and this one is the only one at the moment left on the menu card." The BOJ, though, is expected to keep its current QQE program and interest rate unchanged. With the U.S. economy back on track to stronger growth, the Fed is expected to raise interest rates around mid 2015, which will bring challenges to emerging markets. There's still just over more than 11 months left to this year and already, some analysts are saying that 2015 is going to be a year for Central Banks.

cnbc, Articles, source:tagname:CNBC Asia Source

<div class="group"><p><em> — This is the script of CNBC's news report for China's CCTV on January 20, Tuesday.</em><br></p><p> 2015 has not only been volatile for commodities, the foreign exchange market has been topsy turvy as well, with some calling it the currency war.</p><div style="height:100%" class="lazyload-placeholder"></div><p> We've already seen cuts this year by India and Peru. The Swiss National Bank shocked markets last week by scrapping its 1,20 francs per euro cap. The Swiss central bank had earlier cut its rate down down to -1.25% to -0.25% range. Today, Denmark announced its own cut to its benchmark policy and lending rates and Japan's BoJ will announced their policy decision tomorrow, on the back of a two-day meeting.</p><p> All eyes are now on the ECB and their policy meeting on Thursday. 90% of analysts expect a QE program from Mario Draghi and his team, with a medium predict of at least 550 billion euro.</p><p>[Megan Greene, MD &amp; Chief Economist, Manulife Asset Management] "My big fear is they are gonna actually engage in QE, and that its gonna be a total damp squid 071632 and then they will have used up all of their dry powder, so what else can they bring out to fight deflation."<br></p><p>[Sean Darby, Global Head of Equity Strategy, Jefferies] "But the problem really is the central bank has got limited options to some extent in trying to increase inflation rate, and this one is the only one at the moment left on the menu card."</p><p> The BOJ, though, is expected to keep its current QQE program and interest rate unchanged. With the U.S. economy back on track to stronger growth, the Fed is expected to raise interest rates around mid 2015, which will bring challenges to emerging markets. There's still just over more than 11 months left to this year and already, some analysts are saying that 2015 is going to be a year for Central Banks.</p><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p> Follow us on Twitter: <a href="https://twitter.com/cnbcworld" target="_blank">@CNBCWorld</a></p></div>

— This is the script of CNBC's news report for China's CCTV on January 20, Tuesday. 2015 has not only been volatile for commodities, the foreign exchange market has been topsy turvy as well, with some calling it the currency war. We've already seen cuts this year by India and Peru. The Swiss National Bank shocked markets last week by scrapping its 1,20 francs per euro cap. The Swiss central bank had earlier cut its rate down down to -1.25% to -0.25% range. Today, Denmark announced its own cut to its benchmark policy and lending rates and Japan's BoJ will announced their policy decision tomorrow, on the back of a two-day meeting. All eyes are now on the ECB and their policy meeting on Thursday. 90% of analysts expect a QE program from Mario Draghi and his team, with a medium predict of at least 550 billion euro.[Megan Greene, MD & Chief Economist, Manulife Asset Management] "My big fear is they are gonna actually engage in QE, and that its gonna be a total damp squid 071632 and then they will have used up all of their dry powder, so what else can they bring out to fight deflation."[Sean Darby, Global Head of Equity Strategy, Jefferies] "But the problem really is the central bank has got limited options to some extent in trying to increase inflation rate, and this one is the only one at the moment left on the menu card." The BOJ, though, is expected to keep its current QQE program and interest rate unchanged. With the U.S. economy back on track to stronger growth, the Fed is expected to raise interest rates around mid 2015, which will bring challenges to emerging markets. There's still just over more than 11 months left to this year and already, some analysts are saying that 2015 is going to be a year for Central Banks. Follow us on Twitter: @CNBCWorld

2021-10-30 14:12:27.184366

Britain has a Brexit backup plan if talks fail, says minister

https://www.cnbc.com/2017/03/12/britain-has-a-brexit-backup-plan-if-talks-fail-says-minister.html

2017-03-12T11:41:08+0000

CNBC

cnbc, Articles, Business News, Economy, World Economy, Europe News, source:tagname:Reuters

<div class="group"><p><br></p></div>,<div class="group"><p>Britain is drawing up contingency plans for the unlikely event it has to walk away from divorce talks with the European Union without a deal, Brexit minister David Davis said on Sunday.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Prime Minister Theresa May is set to begin exit talks by the end of the month, kicking off Britain's most complex set of negotiations since the end of World War Two. The outcome will shape Britain's political and economic future.</p><p>Ahead of the start of negotiations, which could be triggered as early as Tuesday, a committee of lawmakers warned it would be a serious dereliction of duty if the government failed to plan for the possibility of not reaching an exit deal.</p><p>"I don't think, firstly, that is remotely likely," Davis told the BBC's Andrew Marr Show, responding to the report. "It's in absolutely everybody's interest that we get a good outcome."</p><p>Parliament's Foreign Affairs committee warned that a breakdown in negotiations would be a "very destructive outcome", causing economic harm to both sides as well as creating uncertainty and legal confusion for individuals and businesses.</p><p>"The simple truth is we have been planning for the contingency - all the various outcomes, all the possible outcomes of the negotiations," Davis said. </p><div style="height:100%" class="lazyload-placeholder"></div><p>"One of the reasons we don't talk about the contingency plan too much is that we don't want people to think 'Oh, this is what we're trying to do.'"<br></p><p>Asked when May would trigger talks, Davis declined to name a specific date.<br></p><p>"Each date has different implications in terms of when it could be responded to by the (European) council ... I'm not going to get into the details why, but there's politics in terms of achieving success."<br></p></div>,<div class="group"><p>Before May can begin negotiations, she must finish passing the legislation that gives her the right to formally notify the EU of Britain's intention to leave and start a two-year negotiating period as set out in the EU's Lisbon treaty.</p><p>The laws are expected to be finalised in a series of votes early next week, which will test May's authority over her Conservative Party as she seeks to overturn changes made to the draft bill by parliament's upper chamber.</p><p>The government suffered two heavy defeats in parliament during the legislative process, inserting conditions into the bill saying May must guarantee the rights of EU nationals living in Britain and give lawmakers more powers to reject the final terms she reaches with the EU. </p><p>Facing a possible rebellion from Conservatives who want to vote on the final Brexit terms, Davis urged lawmakers to back May's Brexit strategy and overturn those changes because they would tie the government's hands in the negotiations.</p><p>"What we can't have is either house of parliament reversing the decision of the British people - they haven't got a veto," Davis said.</p><p>Follow CNBC International on <a href="https://twitter.com/cnbci" target="_blank">Twitter</a> and <a href="https://www.facebook.com/cnbcinternational" target="_blank">Facebook</a>. <br></p></div>

Britain is drawing up contingency plans for the unlikely event it has to walk away from divorce talks with the European Union without a deal, Brexit minister David Davis said on Sunday.Prime Minister Theresa May is set to begin exit talks by the end of the month, kicking off Britain's most complex set of negotiations since the end of World War Two. The outcome will shape Britain's political and economic future.Ahead of the start of negotiations, which could be triggered as early as Tuesday, a committee of lawmakers warned it would be a serious dereliction of duty if the government failed to plan for the possibility of not reaching an exit deal."I don't think, firstly, that is remotely likely," Davis told the BBC's Andrew Marr Show, responding to the report. "It's in absolutely everybody's interest that we get a good outcome."Parliament's Foreign Affairs committee warned that a breakdown in negotiations would be a "very destructive outcome", causing economic harm to both sides as well as creating uncertainty and legal confusion for individuals and businesses."The simple truth is we have been planning for the contingency - all the various outcomes, all the possible outcomes of the negotiations," Davis said. "One of the reasons we don't talk about the contingency plan too much is that we don't want people to think 'Oh, this is what we're trying to do.'"Asked when May would trigger talks, Davis declined to name a specific date."Each date has different implications in terms of when it could be responded to by the (European) council ... I'm not going to get into the details why, but there's politics in terms of achieving success."Before May can begin negotiations, she must finish passing the legislation that gives her the right to formally notify the EU of Britain's intention to leave and start a two-year negotiating period as set out in the EU's Lisbon treaty.The laws are expected to be finalised in a series of votes early next week, which will test May's authority over her Conservative Party as she seeks to overturn changes made to the draft bill by parliament's upper chamber.The government suffered two heavy defeats in parliament during the legislative process, inserting conditions into the bill saying May must guarantee the rights of EU nationals living in Britain and give lawmakers more powers to reject the final terms she reaches with the EU. Facing a possible rebellion from Conservatives who want to vote on the final Brexit terms, Davis urged lawmakers to back May's Brexit strategy and overturn those changes because they would tie the government's hands in the negotiations."What we can't have is either house of parliament reversing the decision of the British people - they haven't got a veto," Davis said.Follow CNBC International on Twitter and Facebook.

2021-10-30 14:12:27.747236

First Colorado county reports pot taxes

https://www.cnbc.com/2014/02/25/first-colorado-county-reports-pot-taxes.html

2014-02-25T21:27:33+0000

CNBC

A southern Colorado county with two recreational marijuana stores has become the first in the state to announce tax totals from the new industry. Pueblo County finance authorities announced Monday that its two shops had about $1 million in total sales in January, producing about $56,000 in local sales taxes. Pueblo County is the only place between Denver and the New Mexico state line that currently allows recreational pot stores. Its two shops were joined by three more that opened in February. (Watch: ) "We recognize that the eyes of the world are watching us, and we are proud to have erected a robust regulatory environment in Pueblo County," County Commissioner Sal Pace said in a statement Tuesday. Pueblo County Clerk Gilbert "Bo" Ortiz projected the marijuana industry will generate roughly $670,000 in new tax revenue for his county this year. The money is a combination of a 3.5 percent pot sales tax approved by county voters last year, as well as "share-backs" from the state on general and pot-specific sales taxes.

cnbc, Articles, Laws, Politics, Government taxation and revenue, Marijuana, Law, Taxes, US: News, source:tagname:The Associated Press

<div class="group"><p> A southern Colorado county with two recreational marijuana stores has become the first in the state to announce tax totals from the new industry.</p><p> Pueblo County finance authorities announced Monday that its two shops had about $1 million in total sales in January, producing about $56,000 in local sales taxes.</p><div style="height:100%" class="lazyload-placeholder"></div><p> Pueblo County is the only place between Denver and the New Mexico state line that currently allows recreational pot stores. Its two shops were joined by three more that opened in February.</p><p> (<em>Watch: </em>)<em> </em></p><p> "We recognize that the eyes of the world are watching us, and we are proud to have erected a robust regulatory environment in Pueblo County," County Commissioner Sal Pace said in a statement Tuesday.</p><p> Pueblo County Clerk Gilbert "Bo" Ortiz projected the marijuana industry will generate roughly $670,000 in new tax revenue for his county this year. The money is a combination of a 3.5 percent pot sales tax approved by county voters last year, as well as "share-backs" from the state on general and pot-specific sales taxes.</p></div>,<div class="group"><p> If Pueblo's sales continue at the January pace, the county's pot industry will make about $11.2 million in gross sales in 2014, Ortiz projected. The county's total budget is about $165 million a year.</p><div style="height:100%" class="lazyload-placeholder"></div><p> (<em>Watch: </em><a href="https://www.cnbc.com/video/2014/02/12/how-former-dea-agents-became-pot-proponents-.html">How former DEA agents became pot proponents</a>)<em> </em><br></p><p> Colorado has more than 160 licensed recreational pot stores, all of whom had to report sales taxes Feb. 20. Most of the stores are in Denver County, which hasn't yet reported its January tax haul.</p><p> Pueblo County is the first local government to make its recreational marijuana sales tax totals public. Statewide totals are expected early next month.</p><p> Pueblo officials joked about the pot tax haul Monday in a county finance meeting.</p><p> (<em>Read more: </em><a href="https://www.cnbc.com/2014/02/26/a-conversation-with-a-drug-dealer.html">The go-to guy: A conversation with a drug dealer</a>)<br></p><p> "The irony is that the only new revenue we have coming in is in marijuana, and yet we have to open a new judicial building," Commissioner Liane "Buffie" McFadyen quipped, according to a report Tuesday in The (Pueblo) Chieftain.</p><p> County Budget and Finance Director Cal Hamler replied, "We're going to have to sell more weed."</p><p> —<em>By The Associated Press</em></p></div>

A southern Colorado county with two recreational marijuana stores has become the first in the state to announce tax totals from the new industry. Pueblo County finance authorities announced Monday that its two shops had about $1 million in total sales in January, producing about $56,000 in local sales taxes. Pueblo County is the only place between Denver and the New Mexico state line that currently allows recreational pot stores. Its two shops were joined by three more that opened in February. (Watch: ) "We recognize that the eyes of the world are watching us, and we are proud to have erected a robust regulatory environment in Pueblo County," County Commissioner Sal Pace said in a statement Tuesday. Pueblo County Clerk Gilbert "Bo" Ortiz projected the marijuana industry will generate roughly $670,000 in new tax revenue for his county this year. The money is a combination of a 3.5 percent pot sales tax approved by county voters last year, as well as "share-backs" from the state on general and pot-specific sales taxes. If Pueblo's sales continue at the January pace, the county's pot industry will make about $11.2 million in gross sales in 2014, Ortiz projected. The county's total budget is about $165 million a year. (Watch: How former DEA agents became pot proponents) Colorado has more than 160 licensed recreational pot stores, all of whom had to report sales taxes Feb. 20. Most of the stores are in Denver County, which hasn't yet reported its January tax haul. Pueblo County is the first local government to make its recreational marijuana sales tax totals public. Statewide totals are expected early next month. Pueblo officials joked about the pot tax haul Monday in a county finance meeting. (Read more: The go-to guy: A conversation with a drug dealer) "The irony is that the only new revenue we have coming in is in marijuana, and yet we have to open a new judicial building," Commissioner Liane "Buffie" McFadyen quipped, according to a report Tuesday in The (Pueblo) Chieftain. County Budget and Finance Director Cal Hamler replied, "We're going to have to sell more weed." —By The Associated Press

2021-10-30 14:12:28.452828

Euro rises vs. yen, dollar after data eases ECB concern

https://www.cnbc.com/2013/11/28/yen-sees-little-reprieve-after-tough-month-japan-data-eyed.html

2013-11-29T17:52:00+0000

CNBC

The euro traded near a five-year peak against the yen and a one-month high against the dollar on Friday after euro zone economic data dented speculation about further monetary easing by the European Central Bank. Annual euro zone consumer price inflation rose by 0.9 percent in November, slightly more than economists had predicted, while further data revealed the first fall in euro zone unemployment in almost three years. Analysts said this should be sufficient to ease the ECB's concerns about low inflation and may cause them to hold off from a further interest rate cut as early as next week to follow an unexpected rate cut earlier this month. The euro rose to as high as $1.3621, according to Reuters data, the strongest since the end of October, before easing to $1.3609, little changed on the day.

cnbc, Articles, Currency markets, U.S. dollar, Australian Dollar/US Dollar FX Spot Rate, GBP/USD, US Dollar Currency Index, Japanese Yen/US Dollar (factor x100), Euro/Japanese Yen FX Cross Rate, EUR/USD, USD/JPY, Commodity markets, U.S. Dollar, Currencies, Futures & Commodities, Chinese Yuan, Euro, Markets, source:tagname:Reuters

<div class="group"><p> The euro traded near a five-year peak against the yen and a one-month high against the dollar on Friday after euro zone economic data dented speculation about further monetary easing by the European Central Bank.</p><p> Annual euro zone consumer price inflation rose by 0.9 percent in November, slightly more than economists had predicted, while further data revealed the first fall in euro zone unemployment in almost three years.</p><div style="height:100%" class="lazyload-placeholder"></div><p> Analysts said this should be sufficient to ease the ECB's concerns about low inflation and may cause them to hold off from a further interest rate cut as early as next week to follow an unexpected rate cut earlier this month.</p><p> The euro rose to as high as $1.3621, according to Reuters data, the strongest since the end of October, before easing to $1.3609, little changed on the day.</p></div>,<div class="group"><p> The <a href="https://www.cnbc.com/quotes/EUR=">euro</a> gained 0.1 percent to 139.36 yen, having risen as high as 139.70, its strongest since the aftermath of the collapse of Lehman Brothers in late 2008.</p><p> On the month, the euro was on track for a gain of 0.2 percent against the dollar, its third straight month of advances. It rose 4.3 percent against the yen, on track for the best monthly performance since April.</p><p> The dollar hit a six-month high of 102.60 <!-- --> and was last up 0.1 percent at 102.41. It was on pace for a gain of 4 percent in November, the largest monthly rise since January.</p><div style="height:100%" class="lazyload-placeholder"></div><p> The euro is up nearly 22 percent on the year against the yen. It has risen around 6.5 percent since the ECB unexpectedly cut interest rates on Nov. 7.</p><p> <em>For more information on currency prices, please <a href="https://www.cnbc.com/futures-and-commodities/">click here</a>. </em></p></div>

The euro traded near a five-year peak against the yen and a one-month high against the dollar on Friday after euro zone economic data dented speculation about further monetary easing by the European Central Bank. Annual euro zone consumer price inflation rose by 0.9 percent in November, slightly more than economists had predicted, while further data revealed the first fall in euro zone unemployment in almost three years. Analysts said this should be sufficient to ease the ECB's concerns about low inflation and may cause them to hold off from a further interest rate cut as early as next week to follow an unexpected rate cut earlier this month. The euro rose to as high as $1.3621, according to Reuters data, the strongest since the end of October, before easing to $1.3609, little changed on the day. The euro gained 0.1 percent to 139.36 yen, having risen as high as 139.70, its strongest since the aftermath of the collapse of Lehman Brothers in late 2008. On the month, the euro was on track for a gain of 0.2 percent against the dollar, its third straight month of advances. It rose 4.3 percent against the yen, on track for the best monthly performance since April. The dollar hit a six-month high of 102.60 and was last up 0.1 percent at 102.41. It was on pace for a gain of 4 percent in November, the largest monthly rise since January. The euro is up nearly 22 percent on the year against the yen. It has risen around 6.5 percent since the ECB unexpectedly cut interest rates on Nov. 7. For more information on currency prices, please click here.

2021-10-30 14:12:28.693025

Sara Lee Drops on No-Takeover Report (Update)

https://www.cnbc.com/2011/01/27/sara-lee-drops-on-notakeover-report-update.html

2011-01-27T21:57:03+0000

Bob Pisani

CNBC

UPDATE: The Sara Lee story: it is likely about price and inflationTheDeal.com report that a sale of SLE is unlikely dropped the stock about 4 percent. Reports abound that the Board is meeting today to consider selling pieces of the company, such as the meat or coffee division, or breaking it into separate pieces. The likely problem: inability to agree on a price. Why? Because food companies are in a tough environment, an environment that cannot be easily changed just by getting bigger. The big issue for food companies: inflation. Bernstein, in a recent note to clients, noted that cost of goods sold (COGS) inflation will average 6.7 percent for 2011 for the large food companies like SLE, Kraft , Kellogg and Campbell's . That is up from a 5 percent estimate that was done in October and way above the 3-5 percent sweet spot preferred by many management teams, they say. Knock-on effects: 1) commodity inflation causes food stocks to underperform because margins get hit 2) when food prices go up, private labels gain market share 3) innovation becomes more important: the ability to raise prices often depends on the ability to introduce new products, rather than renovate existing ones. -----Sara Lee was down as much as 4 percent Thursday on a story in TheDeal.com that a sale of the company appears unlikely, citing unnamed sources. The company has been widely believed to be a takeover target, or that it might separately sell its meat or beverage businesses. A number of players, including Apollo Global Management and KKR, have reportedly expressed interest in a buyout. Recall that CEO Brenda Barnes stepped down in August for health reasons. Though SLE has many well-known brand names (Jimmy Dean, Hillshire Farm), it's a tough sell: the food business is highly competitive, and as we have seen in other companies, it is tough to get pricing power. Higher commodity costs, as has been widely reported, add to the uncertainty.More:'Fast Money' Traders: What Commodities Are Saying Now_____________________________Bookmark CNBC Data Pages:__________________________________________________________Want updates whenever a TraderTalk blog is filed? Follow me on Twitter: twitter.com/BobPisani. Questions?  Comments?  tradertalk@cnbc.com

cnbc, Articles, Commodity markets, U.S. dollar, Campbell Soup Co, Kellogg Co, Mondelez International Inc, Futures & Commodities, U.S. Dollar, DOW 30, Markets, U.S. Markets, Market Insider, Trader Talk, source:tagname:CNBC US Source

<div class="group"><p><strong>UPDATE: The Sara Lee story: it is likely about price and inflation</strong></p><p>TheDeal.com report that a sale of SLE is unlikely dropped the stock about 4 percent. Reports abound that the Board is meeting today to consider selling pieces of the company, such as the meat or coffee division, or breaking it into separate pieces. </p><div style="height:100%" class="lazyload-placeholder"></div><p>The likely problem: inability to agree on a price. </p><p>Why? Because food companies are in a tough environment, an environment that cannot be easily changed just by getting bigger. </p><p>The big issue for food companies: inflation. </p><p>Bernstein, in a recent note to clients, noted that cost of goods sold (COGS) inflation will average 6.7 percent for 2011 for the large food companies like SLE, Kraft , Kellogg and Campbell's . That is up from a 5 percent estimate that was done in October and way above the 3-5 percent sweet spot preferred by many management teams, they say. </p><p><strong>Knock-on effects: </strong></p><div style="height:100%" class="lazyload-placeholder"></div><p>1) commodity inflation causes food stocks to underperform because margins get hit </p><p>2) when food prices go up, private labels gain market share </p><p>3) innovation becomes more important: the ability to raise prices often depends on the ability to introduce new products, rather than renovate existing ones. </p><p><strong>-----</strong></p><p><strong>Sara Lee</strong> was down as much as 4 percent Thursday on a story in TheDeal.com that a sale of the company appears unlikely, citing unnamed sources. </p><p>The company has been widely believed to be a takeover target, or that it might separately sell its meat or beverage businesses. A number of players, including Apollo Global Management and KKR, have reportedly expressed interest in a buyout. </p><p>Recall that CEO Brenda Barnes stepped down in August for health reasons. </p><p>Though SLE has many well-known brand names (Jimmy Dean, Hillshire Farm), it's a tough sell: the food business is highly competitive, and as we have seen in other companies, it is tough to get pricing power. Higher <a href="https://www.cnbc.com/futures-and-commodities/">commodity</a> costs, as has been widely reported, add to the uncertainty.</p><p><strong><em>More:</em></strong></p><p><a href="https://www.cnbc.com/2011/01/27/halftime-are-commodities-trying-to-tell-you-something.html">'Fast Money' Traders: What Commodities Are Saying Now</a></p><p>_____________________________<br><strong><em>Bookmark CNBC Data Pages:</em></strong><br></p><ul><li><a href="https://www.cnbc.com/dow-30/">The Dow 30 — in Real Time</a></li><li><a href="https://www.cnbc.com/futures-and-commodities/">Oil, Gold, Natural Gas Prices Now</a></li><li><a href="https://www.cnbc.com/us-dollar/">US Dollar, Minute by Minute</a></li></ul><p>_____________________________</p><p>_____________________________</p><p><em>Want updates whenever a TraderTalk blog is filed? Follow me on Twitter: twitter.com/BobPisani. </em></p><p><em>Questions?  Comments?  <a href="mailto:tradertalk@cnbc.com" class="webresource" target="_blank">tradertalk@cnbc.com</a></em></p></div>

UPDATE: The Sara Lee story: it is likely about price and inflationTheDeal.com report that a sale of SLE is unlikely dropped the stock about 4 percent. Reports abound that the Board is meeting today to consider selling pieces of the company, such as the meat or coffee division, or breaking it into separate pieces. The likely problem: inability to agree on a price. Why? Because food companies are in a tough environment, an environment that cannot be easily changed just by getting bigger. The big issue for food companies: inflation. Bernstein, in a recent note to clients, noted that cost of goods sold (COGS) inflation will average 6.7 percent for 2011 for the large food companies like SLE, Kraft , Kellogg and Campbell's . That is up from a 5 percent estimate that was done in October and way above the 3-5 percent sweet spot preferred by many management teams, they say. Knock-on effects: 1) commodity inflation causes food stocks to underperform because margins get hit 2) when food prices go up, private labels gain market share 3) innovation becomes more important: the ability to raise prices often depends on the ability to introduce new products, rather than renovate existing ones. -----Sara Lee was down as much as 4 percent Thursday on a story in TheDeal.com that a sale of the company appears unlikely, citing unnamed sources. The company has been widely believed to be a takeover target, or that it might separately sell its meat or beverage businesses. A number of players, including Apollo Global Management and KKR, have reportedly expressed interest in a buyout. Recall that CEO Brenda Barnes stepped down in August for health reasons. Though SLE has many well-known brand names (Jimmy Dean, Hillshire Farm), it's a tough sell: the food business is highly competitive, and as we have seen in other companies, it is tough to get pricing power. Higher commodity costs, as has been widely reported, add to the uncertainty.More:'Fast Money' Traders: What Commodities Are Saying Now_____________________________Bookmark CNBC Data Pages:The Dow 30 — in Real TimeOil, Gold, Natural Gas Prices NowUS Dollar, Minute by Minute__________________________________________________________Want updates whenever a TraderTalk blog is filed? Follow me on Twitter: twitter.com/BobPisani. Questions?  Comments?  tradertalk@cnbc.com

2021-10-30 14:12:28.728725

Amazon is planning to open drive-up grocery stores in Seattle

https://www.cnbc.com/2017/03/14/amazonfresh-pickup-set-to-open-in-seattle-geekwire-reports.html

2017-03-14T15:35:50+0000

Anita Balakrishnan

CNBC

cnbc, Articles, Amazon.com Inc, Food and drink, Retail industry, Technology, Food and Beverage, Retail, US: News, Food and Staples Retailing, source:tagname:CNBC US Source

<div class="group"><p><br></p></div>,<div class="group"><p><strong><em></em></strong><a href="//www.cnbc.com/quotes/AMZN" target="_blank">Amazon</a> is putting the finishing touches on a concept for new Seattle area grocery stores called AmazonFresh Pickup, according to permit filings reported by <a href="http://www.geekwire.com/2017/amazons-drive-up-grocery-store-concept-has-a-name-amazonfresh-pickup/" target="_blank">GeekWire</a>.</p><div style="height:100%" class="lazyload-placeholder"></div><p>E-commerce giant Amazon has filed permits for stores in the Seattle neighborhoods of Ballard and SoDo, according to GeekWire's images from the Seattle Department of Construction and Inspections.</p><p>Amazon did not formally announce the stores to the technology blog, but CNBC is reaching out for comment.</p><p>Signs for the store exteriors read, "Shop online. Pick up here," and "Relax while we load your groceries," according depictions in the permits. GeekWire also visited the planned locations of the stores, where there are awnings for drive-up grocery pickup.</p><p>Based on previous permits, GeekWire posits that there will be about 15 employees at each location, and three to five workers will be dedicated to bringing orders out to parked cars with an average wait time of 5 minutes.</p><p>Amazon has recently experimented with several retail concepts, including a smart convenience store, <a href="http://www.cnbc.com/2016/12/09/amazons-grab-and-go-stores-to-pressure-grocers-to-step-up-smart-store-efforts.html">Amazon Go</a>. Amazon has also explored permits for drive-up grocery stores in the Bay Area, according to <a href="http://www.bizjournals.com/sanjose/news/2016/05/16/exclusive-amazon-planning-second-drive-up-grocery.html" target="_blank">Silicon Valley Business Journal.</a></p><div style="height:100%" class="lazyload-placeholder"></div><p>Amazon CEO Jeff Bezos has said the company's tech savvy — especially artificial intelligence — allows the company to do things like <a href="http://www.geekwire.com/2016/jeff-bezos-sees-future-amazon-echo-alexa-healthcare/" target="_blank">sort fresh strawberries better than the human eye.</a></p><p><em><strong><a href="http://www.geekwire.com/2017/amazons-drive-up-grocery-store-concept-has-a-name-amazonfresh-pickup/" target="_blank">For more on the Amazon permits, including pictures, check out the article on GeekWire.com.</a></strong></em></p><p><br></p></div>

Amazon is putting the finishing touches on a concept for new Seattle area grocery stores called AmazonFresh Pickup, according to permit filings reported by GeekWire.E-commerce giant Amazon has filed permits for stores in the Seattle neighborhoods of Ballard and SoDo, according to GeekWire's images from the Seattle Department of Construction and Inspections.Amazon did not formally announce the stores to the technology blog, but CNBC is reaching out for comment.Signs for the store exteriors read, "Shop online. Pick up here," and "Relax while we load your groceries," according depictions in the permits. GeekWire also visited the planned locations of the stores, where there are awnings for drive-up grocery pickup.Based on previous permits, GeekWire posits that there will be about 15 employees at each location, and three to five workers will be dedicated to bringing orders out to parked cars with an average wait time of 5 minutes.Amazon has recently experimented with several retail concepts, including a smart convenience store, Amazon Go. Amazon has also explored permits for drive-up grocery stores in the Bay Area, according to Silicon Valley Business Journal.Amazon CEO Jeff Bezos has said the company's tech savvy — especially artificial intelligence — allows the company to do things like sort fresh strawberries better than the human eye.For more on the Amazon permits, including pictures, check out the article on GeekWire.com.

2021-10-30 14:12:28.765113

Google Earnings Fall Short of Expectations

https://www.cnbc.com/2010/07/15/google-earnings-fall-short-of-expectations.html

2010-07-15T21:28:41+0000

CNBC

Googleshares dropped sharply in extended trading Thursday after the company reported a profit that failed to match what Wall Street hoped was coming, after a spike in expenses offset a 24 percent revenue jump.

cnbc, Articles, Microsoft Corp, Altaba Inc, Alphabet Class A, Investing, Earnings, source:tagname:CNBC US Source

<div class="group"><p>Googleshares dropped sharply in extended trading Thursday after the company reported a profit that failed to match what Wall Street hoped was coming, after a spike in expenses offset a 24 percent revenue jump.</p></div>,<div class="group"><p>The report marked a rare stumble for a company accustomed to shattering financial expectations.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Google, which is expanding into new products and markets in hopes of maintaining the growth momentum Wall Street also looks for, spent heavily on research and development and hired aggressively.</p><p>Some analysts said headwinds from weakening foreign currency did not hurt revenue growth as much as anticipated, as Google managed to surpass targets for net revenue.</p><p>"They're throwing more money into R&amp;D than people were expecting and a little bit less into sales and marketing," said BGC Partners analyst Colin Gillis. "Google has been pretty clear that it's going back into investment mode. They added 1,200 people in the quarter, which means more expenses are going to kick in in September."</p><p>The Internet search and advertising giant said it earned $6.45 a share in the second quarter excluding one-time items, up from $5.36 a share last year.</p><p>Excluding traffic-acquisition costs (TAC), Google's revenue reached $5.1 billion in the most recent period, up from $4.073 billion last year.</p><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p>A group of 36 equity analysts who follow Google expected on average for the company to report a profit of $6.51 a share and revenue, excluding TAC, of $4.985 billion.</p><p>Google shares dropped more than 4 percent in extended trading Thursday. Get after-hour quotes for Google here.</p><p>The stock finished Thursday's regular Nasdaq session up less than 1 percent at $494.02.</p><p>"It missed my non-GAAP estimates but revenues looked a little better than expected," Aaron Kessler, an analyst with Thinkequity, told Reuters. "Research and development looked pretty high and general and administrative expenses were higher than I was expecting. Operating expenses overq;Ihigher than we had estimated which dragged down the earnings per share."</p><p><strong>Payroll Ballooning</strong></p><p>Google has beaten Wall Street revenue expectations in five of the past seven quarters and exceeded profit estimates in each of the past seven.</p><p>Its shares sold off after its last two better-than-expected earnings reports when, analysts said, some investors' expectations of blow-out results were missed. Thursday's results were a rare outright earnings miss.</p><p>Google is increasingly pitting itself against rivals beyond its usual competitors Yahoo and Microsoft, as it ventures into smartphone operating systems, mobile advertising and other areas in search of future growth.</p><p>Google, which has made a string of acquistions in recent months, added more than 1,100 employees to its payroll during the second quarter.</p><p>Google's net earnings came in at $1.84 billion, or $5.71 per share, in the three months ending in June. That was up 24 percent from the same time last year, but lower than the rate of growth in the first three months of the year.</p><p>Total revenue, including money that Google shares with Web site partners, was $6.82 billion in the quarter.</p><p>In an encouraging sign for the overall economy, marketers paid more for the online ads that generate virtually all of Google's income. People also clicked on the ads more frequently.</p><p>Those trends indicate more companies and shoppers are feeling a little better as they recover from the worst economic downturn in more than 70 years.</p><p>- <em>AP contributed to this report</em>.</p></div>

Googleshares dropped sharply in extended trading Thursday after the company reported a profit that failed to match what Wall Street hoped was coming, after a spike in expenses offset a 24 percent revenue jump.The report marked a rare stumble for a company accustomed to shattering financial expectations.Google, which is expanding into new products and markets in hopes of maintaining the growth momentum Wall Street also looks for, spent heavily on research and development and hired aggressively.Some analysts said headwinds from weakening foreign currency did not hurt revenue growth as much as anticipated, as Google managed to surpass targets for net revenue."They're throwing more money into R&D than people were expecting and a little bit less into sales and marketing," said BGC Partners analyst Colin Gillis. "Google has been pretty clear that it's going back into investment mode. They added 1,200 people in the quarter, which means more expenses are going to kick in in September."The Internet search and advertising giant said it earned $6.45 a share in the second quarter excluding one-time items, up from $5.36 a share last year.Excluding traffic-acquisition costs (TAC), Google's revenue reached $5.1 billion in the most recent period, up from $4.073 billion last year.A group of 36 equity analysts who follow Google expected on average for the company to report a profit of $6.51 a share and revenue, excluding TAC, of $4.985 billion.Google shares dropped more than 4 percent in extended trading Thursday. Get after-hour quotes for Google here.The stock finished Thursday's regular Nasdaq session up less than 1 percent at $494.02."It missed my non-GAAP estimates but revenues looked a little better than expected," Aaron Kessler, an analyst with Thinkequity, told Reuters. "Research and development looked pretty high and general and administrative expenses were higher than I was expecting. Operating expenses overq;Ihigher than we had estimated which dragged down the earnings per share."Payroll BallooningGoogle has beaten Wall Street revenue expectations in five of the past seven quarters and exceeded profit estimates in each of the past seven.Its shares sold off after its last two better-than-expected earnings reports when, analysts said, some investors' expectations of blow-out results were missed. Thursday's results were a rare outright earnings miss.Google is increasingly pitting itself against rivals beyond its usual competitors Yahoo and Microsoft, as it ventures into smartphone operating systems, mobile advertising and other areas in search of future growth.Google, which has made a string of acquistions in recent months, added more than 1,100 employees to its payroll during the second quarter.Google's net earnings came in at $1.84 billion, or $5.71 per share, in the three months ending in June. That was up 24 percent from the same time last year, but lower than the rate of growth in the first three months of the year.Total revenue, including money that Google shares with Web site partners, was $6.82 billion in the quarter.In an encouraging sign for the overall economy, marketers paid more for the online ads that generate virtually all of Google's income. People also clicked on the ads more frequently.Those trends indicate more companies and shoppers are feeling a little better as they recover from the worst economic downturn in more than 70 years.- AP contributed to this report.

2021-10-30 14:12:28.913155

Pops And Drops: Harley Davidson, Mosaic

https://www.cnbc.com/2011/10/21/pops-and-drops-harley-davidson-mosaic.html

2011-10-21T18:31:23+0000

Lee Brodie

CNBC

Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!The Mover: Harley Davidson (HOG) popped 5%. Trader Comment: I’m a seller, says Pete Najarian, but then I’d buy it back lower.The Mover:  Mosaic (MOS) popped 6%.Trader Comment: I’m looking for strength in this stock when the Cargill lockup ends, says Steve Grasso.

cnbc, Articles, CNBC TV, Fast Money, source:tagname:CNBC US Source

<div class="group"><p>Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!<br><br><strong>The Mover:</strong> Harley Davidson (HOG) popped 5%. <br><strong>Trader Comment:</strong> I’m a seller, says Pete Najarian, but then I’d buy it back lower.</p><p><strong>The Mover:</strong>  Mosaic (MOS) popped 6%.<br><strong>Trader Comment:</strong> I’m looking for strength in this stock when the Cargill lockup ends, says Steve Grasso.</p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p><strong>The Mover:</strong> American Express (AXP) popped 4%.<br><strong>Trader Comment:</strong> I think this stock could do well into the holidays, says JJ Kinahan. </p><p><strong>The Mover:</strong> Disney (DIS) popped 3%.<br><strong>Trader Comment:</strong> I think it’s catching up to strength that’s been there all along, says Zach Karabell.</p><p><strong>The Mover:</strong> Home Depot (HD) popped 2%.<br><strong>Trader Comment:</strong> I look at as a safety name with limited downside, says Pete Najarian.</p><p><strong>The Mover:</strong> Bank Of America (BAC) popped 2%.<br><strong>Trader Comment:</strong> I’d wait for the stock to stabilize around $7 before I’d buy, says Steve Grasso.</p><p><strong>The Mover:</strong> SanDisk (SNDK) popped 8%.<br><strong>Trader Comment:</strong> The company came out with earnings, had a game plan and executed perfectly, says JJ Kinahan. <br><br><br></p><div style="height:100%" class="lazyload-placeholder"></div><p><br><br></p><p><br></p><p>______________________________________________________<br>Got something to to say? Send us an e-mail at <a href="mailto:fastmoney-web@cnbc.com" class="webresource" target="_blank">fastmoney-web@cnbc.com</a> and your comment might be posted on the <em>Rapid Recap</em>! If you'd prefer to make a comment but not have it published on our Web site send your e-mail to <!-- -->.</p></div>

Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!The Mover: Harley Davidson (HOG) popped 5%. Trader Comment: I’m a seller, says Pete Najarian, but then I’d buy it back lower.The Mover:  Mosaic (MOS) popped 6%.Trader Comment: I’m looking for strength in this stock when the Cargill lockup ends, says Steve Grasso.The Mover: American Express (AXP) popped 4%.Trader Comment: I think this stock could do well into the holidays, says JJ Kinahan. The Mover: Disney (DIS) popped 3%.Trader Comment: I think it’s catching up to strength that’s been there all along, says Zach Karabell.The Mover: Home Depot (HD) popped 2%.Trader Comment: I look at as a safety name with limited downside, says Pete Najarian.The Mover: Bank Of America (BAC) popped 2%.Trader Comment: I’d wait for the stock to stabilize around $7 before I’d buy, says Steve Grasso.The Mover: SanDisk (SNDK) popped 8%.Trader Comment: The company came out with earnings, had a game plan and executed perfectly, says JJ Kinahan. ______________________________________________________Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our Web site send your e-mail to .

2021-10-30 14:12:29.070638

Cancer Study Shows Over 7.5 Million Deaths in 2007

https://www.cnbc.com/2007/12/17/cancer-study-shows-over-75-million-deaths-in-2007.html

2007-12-17T18:20:49+0000

CNBC

More than seven-and-a-half million people -- or about 20,000 people a day -- will die of cancer this 2007. That's the sobering new estimate from a first-of-its-kind global study out of the American Cancer Society. The report says that nearly three million cancer deaths will occur in economically developed countries … and more than four-and-a-half million in developing countries.The publication also includes scary projections about tobacco-related deaths.  The ACS estimates more than one billion people will die this century from tobacco use -- a ten-fold increase over the 20th century.  Some of the most devastating projections are in China where 350 million people smoke cigarettes.  That's more than the entire population of the United States.The study says stopping tobacco use in the developing world should be "an urgent global health priority".

cnbc, Articles, Business News, Health & Science, Biotech and Pharmaceuticals, Pharmaceuticals, source:tagname:CNBC US Source

<div class="group"><p>More than seven-and-a-half million people -- or about 20,000 people a day -- will die of cancer this 2007. </p><p>That's the sobering new estimate from a first-of-its-kind global study out of the American Cancer Society. </p><div style="height:100%" class="lazyload-placeholder"></div><p>The report says that nearly three million cancer deaths will occur in economically developed countries … and more than four-and-a-half million in developing countries.</p><p>The publication also includes scary projections about tobacco-related deaths.  </p><p>The ACS estimates more than one billion people will die this century from tobacco use -- a ten-fold increase over the 20th century.  Some of the most devastating projections are in China where 350 million people smoke cigarettes.  That's more than the entire population of the United States.</p><p>The study says stopping tobacco use in the developing world should be "an urgent global health priority". </p></div>

More than seven-and-a-half million people -- or about 20,000 people a day -- will die of cancer this 2007. That's the sobering new estimate from a first-of-its-kind global study out of the American Cancer Society. The report says that nearly three million cancer deaths will occur in economically developed countries … and more than four-and-a-half million in developing countries.The publication also includes scary projections about tobacco-related deaths.  The ACS estimates more than one billion people will die this century from tobacco use -- a ten-fold increase over the 20th century.  Some of the most devastating projections are in China where 350 million people smoke cigarettes.  That's more than the entire population of the United States.The study says stopping tobacco use in the developing world should be "an urgent global health priority".

2021-10-30 14:12:29.488616

Twitter proposes offering range of $17-$20/share for IPO

https://www.cnbc.com/2013/10/24/twitter-proposes-offering-range-of-17-20share-for-ipo.html

2013-10-24T22:47:47+0000

CNBC

Twitter plans to sell its shares for anywhere from $17 to $20 per share in an initial public offering, the company said on Thursday.Twitter is offering 70 million shares, suggesting the deal could raise up to $1.4 billion for the social media company.At the top end of the range, Twitter would be worth some $10.9 billion.

cnbc, Articles, Twitter IPO, Technology: Companies, US: News, Special Reports, source:tagname:CNBC US Source

<div class="group"><p>Twitter plans to sell its shares for anywhere from $17 to $20 per share in an initial public offering, the company said on Thursday.</p><p>Twitter is offering 70 million shares, suggesting the deal could raise up to $1.4 billion for the social media company.</p><div style="height:100%" class="lazyload-placeholder"></div><p>At the top end of the range, Twitter would be worth some $10.9 billion. </p></div>,<div class="group"><p> (<em>Read more</em>: <a href="https://www.cnbc.com/twitter-ipo/">#TwitterIPO</a>)</p><p> The company did not announce a date for the offering, but a source close to the matter said the shares were expected to price on Nov. 6, which would mean the stock would likely start trading on Nov. 7.</p><p> The stock <a href="https://www.cnbc.com/2013/10/15/twitter-chooses-the-nyse-for-its-ipo.html">will list</a> on the New York Stock Exchange under the symbol "TWTR."</p></div>

Twitter plans to sell its shares for anywhere from $17 to $20 per share in an initial public offering, the company said on Thursday.Twitter is offering 70 million shares, suggesting the deal could raise up to $1.4 billion for the social media company.At the top end of the range, Twitter would be worth some $10.9 billion. (Read more: #TwitterIPO) The company did not announce a date for the offering, but a source close to the matter said the shares were expected to price on Nov. 6, which would mean the stock would likely start trading on Nov. 7. The stock will list on the New York Stock Exchange under the symbol "TWTR."

2021-10-30 14:12:29.528361

Tony NYC suburb welcomes NJ's first pot dispensary

https://www.cnbc.com/2012/10/24/tony-nyc-suburb-welcomes-njs-first-pot-dispensary.html

2012-10-24T19:57:00+0000

CNBC

MONTCLAIR, N.J. -- Across New Jersey, most communities approached about hosting one of the state's first legal medical marijuana dispensaries in out-of-the-way industrial zones have just said no, after outpourings of public opposition.Montclair is a different story.The cosmopolitan suburb a half-hour train ride from Manhattan has not only allowed Greenleaf Compassion Center _ which last week received the state Health Department's first license to begin providing pot to patients _ but also let the business set up in the middle of the town's main drag, and with no fuss.For plenty of people in the way left-of-center town, the situation is a source of both pride and nonchalance."Why are the other communities so closed-minded as to not accept something like that?" said Peter Ryby, owner of Montclair Book Store, around the corner and down the block from the not-yet-opened alternative treatment center.The town of 38,000 is sometimes called "the Upper West Side of New Jersey," referring to the famously upscale and liberal part of Manhattan, but it's also reminiscent of well-heeled bohemian spots such as Boulder, Colo., and Berkeley, Calif. There's an art museum, an international film festival, a Whole Foods, Thai restaurants, racks for commuters' bikes, and the headquarters of Garden State Equality, New Jersey's largest gay-rights group.The population _ 62 percent white, 27 percent black _ is racially integrated and largely well-to-do. The median household income is $140,000.And the idea of tolerance is part of the town's identity. In a scene in "Mad Men," a TV drama set in the 1960s, characters who went to Montclair for a party were stunned to see black and white revelers together _ and marijuana being passed around.Medical marijuana is a dicey business. In the eyes of the federal government, the medicine is still an illegal drug.Some patients say marijuana can ease symptoms associated with conditions ranging from multiple sclerosis to migraines. It has been used to treat pain, nausea and lack of appetite in cancer and AIDS patients.Seventeen states and Washington, D.C., have flouted federal law and passed some sort of statute to allow patients access to the drug.Each state has its own model for how the cannabis can be distributed. Some, like New Jersey _ where advocates lament and some officials brag that the laws are the nation's strictest _ are still in a startup phase.So far, nine states _ Arizona, California, Colorado, Maine, Michigan, Montana, New Mexico, Oregon and Washington _ have dispensaries operating. Some states are still setting up distribution systems, and some use home-grown marijuana or other setups that do not include dispensaries.Chris Goldstein, a spokesman for both the Philadelphia chapter of the pro-pot group NORML and the Coalition for Medical Marijuana of New Jersey, has visited dispensaries all over the country. He said most of the storefront operations look more like the one ready to open in Montclair than those proposed in industrial districts of New Jersey."The dispensaries are in the higher-end neighborhoods of California towns. There are people who are wealthy and who are poor who need to access medical marijuana," he said. "In New Jersey, it's wherever the dispensary can get their location."New Jersey is not allowing registered patients to grow their own, and is limiting the potency, amount and variety of pot patients can buy. There's a relatively short list of conditions that qualify patients for the drug, and unlike some more lenient states, chronic pain and anxiety aren't on it.Only New Jersey residents are eligible. New York, easily reachable by rail, does not allow medical marijuana, though lawmakers have proposed doing so.Last year, the New Jersey Department of Health selected six nonprofit groups to pursue plans to grow and sell cannabis. The other five have struggled to find towns that will accept them, and none yet has permission to start growing marijuana, let alone sell it.Groups are planning sites in Egg Harbor Township and Woodbridge. The other three groups have not announced their latest location plans.Only Greenleaf has had a direct path. In its application, the group said it would meet patients in Montclair and grow its plants in another, undisclosed town. The group won't say where, citing security.A year ago, Janice Talley, Montclair's director of planning and community development, found that the site on Bloomfield Avenue _ next door to an abortion clinic and three buildings down from an adult video store that has pipes and vaporizers displayed for sale _ would be a permissible for the new business under zoning laws.Talley said she fielded complaints from some national anti-marijuana groups. "Nobody from the town called me and complained why we had that facility," she said. "It wasn't a huge issue here."Behind the counter at Health Love and Soul Juice Bar and Grill a couple doors down from Greenleaf, Jarisi Anderson, said he's all for the new establishment. "It's a beautiful thing," he said.His co-worker, Queen Townsend, fears the place could be a problem, but she believes she's in the minority. "The people I've met in Montclair _ I don't want to stereotype _ a lot of people here smoke weed," she said. "They don't have a problem with that."The guys smoking tobacco down the street at Fume, a cigar shop, said they aren't troubled by legalizing marijuana _ medicinal or not. "It's a waste to lock somebody up for a nickel bag or a dime bag," said shop owner Ralph Alberto.But the dispensary could give the non-Montclair residents who go there to protest another cause.Last week, Bernadette Grant stood across the street from the dispensary's neighboring abortion clinic with rosary beads in one hand and anti-abortion pamphlets in the other. She said she considers medical marijuana in the same category as abortion."This is not pro-life ," she said. "This is pro-death."___Follow Mulvihill at http://www.twitter.com/geoffmulvihill

cnbc, Articles, Washington DC, Washington, Philadelphia, Pennsylvania, Oregon, New York City, New York, New Mexico, New Jersey, Montana, Michigan, Maine, Colorado, California, Arizona, North America, United States, Wires, source:tagname:The Associated Press

<div class="group"><p>MONTCLAIR, N.J. -- Across New Jersey, most communities approached about hosting one of the state's first legal medical marijuana dispensaries in out-of-the-way industrial zones have just said no, after outpourings of public opposition.</p><p>Montclair is a different story.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The cosmopolitan suburb a half-hour train ride from Manhattan has not only allowed Greenleaf Compassion Center _ which last week received the state Health Department's first license to begin providing pot to patients _ but also let the business set up in the middle of the town's main drag, and with no fuss.</p><p>For plenty of people in the way left-of-center town, the situation is a source of both pride and nonchalance.</p><p>"Why are the other communities so closed-minded as to not accept something like that?" said Peter Ryby, owner of Montclair Book Store, around the corner and down the block from the not-yet-opened alternative treatment center.</p><p>The town of 38,000 is sometimes called "the Upper West Side of New Jersey," referring to the famously upscale and liberal part of Manhattan, but it's also reminiscent of well-heeled bohemian spots such as Boulder, Colo., and Berkeley, Calif. There's an art museum, an international film festival, a Whole Foods, Thai restaurants, racks for commuters' bikes, and the headquarters of Garden State Equality, New Jersey's largest gay-rights group.</p><p>The population _ 62 percent white, 27 percent black _ is racially integrated and largely well-to-do. The median household income is $140,000.</p><div style="height:100%" class="lazyload-placeholder"></div><p>And the idea of tolerance is part of the town's identity. In a scene in "Mad Men," a TV drama set in the 1960s, characters who went to Montclair for a party were stunned to see black and white revelers together _ and marijuana being passed around.</p><p>Medical marijuana is a dicey business. In the eyes of the federal government, the medicine is still an illegal drug.</p><p>Some patients say marijuana can ease symptoms associated with conditions ranging from multiple sclerosis to migraines. It has been used to treat pain, nausea and lack of appetite in cancer and AIDS patients.</p><p>Seventeen states and Washington, D.C., have flouted federal law and passed some sort of statute to allow patients access to the drug.</p><p>Each state has its own model for how the cannabis can be distributed. Some, like New Jersey _ where advocates lament and some officials brag that the laws are the nation's strictest _ are still in a startup phase.</p><p>So far, nine states _ Arizona, California, Colorado, Maine, Michigan, Montana, New Mexico, Oregon and Washington _ have dispensaries operating. Some states are still setting up distribution systems, and some use home-grown marijuana or other setups that do not include dispensaries.</p><p>Chris Goldstein, a spokesman for both the Philadelphia chapter of the pro-pot group NORML and the Coalition for Medical Marijuana of New Jersey, has visited dispensaries all over the country. He said most of the storefront operations look more like the one ready to open in Montclair than those proposed in industrial districts of New Jersey.</p><p>"The dispensaries are in the higher-end neighborhoods of California towns. There are people who are wealthy and who are poor who need to access medical marijuana," he said. "In New Jersey, it's wherever the dispensary can get their location."</p><p>New Jersey is not allowing registered patients to grow their own, and is limiting the potency, amount and variety of pot patients can buy. There's a relatively short list of conditions that qualify patients for the drug, and unlike some more lenient states, chronic pain and anxiety aren't on it.</p><p>Only New Jersey residents are eligible. New York, easily reachable by rail, does not allow medical marijuana, though lawmakers have proposed doing so.</p><p>Last year, the New Jersey Department of Health selected six nonprofit groups to pursue plans to grow and sell cannabis. The other five have struggled to find towns that will accept them, and none yet has permission to start growing marijuana, let alone sell it.</p><p>Groups are planning sites in Egg Harbor Township and Woodbridge. The other three groups have not announced their latest location plans.</p><p>Only Greenleaf has had a direct path. In its application, the group said it would meet patients in Montclair and grow its plants in another, undisclosed town. The group won't say where, citing security.</p><p>A year ago, Janice Talley, Montclair's director of planning and community development, found that the site on Bloomfield Avenue _ next door to an abortion clinic and three buildings down from an adult video store that has pipes and vaporizers displayed for sale _ would be a permissible for the new business under zoning laws.</p><p>Talley said she fielded complaints from some national anti-marijuana groups. "Nobody from the town called me and complained why we had that facility," she said. "It wasn't a huge issue here."</p><p>Behind the counter at Health Love and Soul Juice Bar and Grill a couple doors down from Greenleaf, Jarisi Anderson, said he's all for the new establishment. "It's a beautiful thing," he said.</p><p>His co-worker, Queen Townsend, fears the place could be a problem, but she believes she's in the minority. "The people I've met in Montclair _ I don't want to stereotype _ a lot of people here smoke weed," she said. "They don't have a problem with that."</p><p>The guys smoking tobacco down the street at Fume, a cigar shop, said they aren't troubled by legalizing marijuana _ medicinal or not. "It's a waste to lock somebody up for a nickel bag or a dime bag," said shop owner Ralph Alberto.</p><p>But the dispensary could give the non-Montclair residents who go there to protest another cause.</p><p>Last week, Bernadette Grant stood across the street from the dispensary's neighboring abortion clinic with rosary beads in one hand and anti-abortion pamphlets in the other. She said she considers medical marijuana in the same category as abortion.</p><p>"This is not pro-life ," she said. "This is pro-death."</p><p>___</p><p>Follow Mulvihill at <a href="http://www.twitter.com/geoffmulvihill" target="_blank">http://www.twitter.com/geoffmulvihill</a></p></div>

MONTCLAIR, N.J. -- Across New Jersey, most communities approached about hosting one of the state's first legal medical marijuana dispensaries in out-of-the-way industrial zones have just said no, after outpourings of public opposition.Montclair is a different story.The cosmopolitan suburb a half-hour train ride from Manhattan has not only allowed Greenleaf Compassion Center _ which last week received the state Health Department's first license to begin providing pot to patients _ but also let the business set up in the middle of the town's main drag, and with no fuss.For plenty of people in the way left-of-center town, the situation is a source of both pride and nonchalance."Why are the other communities so closed-minded as to not accept something like that?" said Peter Ryby, owner of Montclair Book Store, around the corner and down the block from the not-yet-opened alternative treatment center.The town of 38,000 is sometimes called "the Upper West Side of New Jersey," referring to the famously upscale and liberal part of Manhattan, but it's also reminiscent of well-heeled bohemian spots such as Boulder, Colo., and Berkeley, Calif. There's an art museum, an international film festival, a Whole Foods, Thai restaurants, racks for commuters' bikes, and the headquarters of Garden State Equality, New Jersey's largest gay-rights group.The population _ 62 percent white, 27 percent black _ is racially integrated and largely well-to-do. The median household income is $140,000.And the idea of tolerance is part of the town's identity. In a scene in "Mad Men," a TV drama set in the 1960s, characters who went to Montclair for a party were stunned to see black and white revelers together _ and marijuana being passed around.Medical marijuana is a dicey business. In the eyes of the federal government, the medicine is still an illegal drug.Some patients say marijuana can ease symptoms associated with conditions ranging from multiple sclerosis to migraines. It has been used to treat pain, nausea and lack of appetite in cancer and AIDS patients.Seventeen states and Washington, D.C., have flouted federal law and passed some sort of statute to allow patients access to the drug.Each state has its own model for how the cannabis can be distributed. Some, like New Jersey _ where advocates lament and some officials brag that the laws are the nation's strictest _ are still in a startup phase.So far, nine states _ Arizona, California, Colorado, Maine, Michigan, Montana, New Mexico, Oregon and Washington _ have dispensaries operating. Some states are still setting up distribution systems, and some use home-grown marijuana or other setups that do not include dispensaries.Chris Goldstein, a spokesman for both the Philadelphia chapter of the pro-pot group NORML and the Coalition for Medical Marijuana of New Jersey, has visited dispensaries all over the country. He said most of the storefront operations look more like the one ready to open in Montclair than those proposed in industrial districts of New Jersey."The dispensaries are in the higher-end neighborhoods of California towns. There are people who are wealthy and who are poor who need to access medical marijuana," he said. "In New Jersey, it's wherever the dispensary can get their location."New Jersey is not allowing registered patients to grow their own, and is limiting the potency, amount and variety of pot patients can buy. There's a relatively short list of conditions that qualify patients for the drug, and unlike some more lenient states, chronic pain and anxiety aren't on it.Only New Jersey residents are eligible. New York, easily reachable by rail, does not allow medical marijuana, though lawmakers have proposed doing so.Last year, the New Jersey Department of Health selected six nonprofit groups to pursue plans to grow and sell cannabis. The other five have struggled to find towns that will accept them, and none yet has permission to start growing marijuana, let alone sell it.Groups are planning sites in Egg Harbor Township and Woodbridge. The other three groups have not announced their latest location plans.Only Greenleaf has had a direct path. In its application, the group said it would meet patients in Montclair and grow its plants in another, undisclosed town. The group won't say where, citing security.A year ago, Janice Talley, Montclair's director of planning and community development, found that the site on Bloomfield Avenue _ next door to an abortion clinic and three buildings down from an adult video store that has pipes and vaporizers displayed for sale _ would be a permissible for the new business under zoning laws.Talley said she fielded complaints from some national anti-marijuana groups. "Nobody from the town called me and complained why we had that facility," she said. "It wasn't a huge issue here."Behind the counter at Health Love and Soul Juice Bar and Grill a couple doors down from Greenleaf, Jarisi Anderson, said he's all for the new establishment. "It's a beautiful thing," he said.His co-worker, Queen Townsend, fears the place could be a problem, but she believes she's in the minority. "The people I've met in Montclair _ I don't want to stereotype _ a lot of people here smoke weed," she said. "They don't have a problem with that."The guys smoking tobacco down the street at Fume, a cigar shop, said they aren't troubled by legalizing marijuana _ medicinal or not. "It's a waste to lock somebody up for a nickel bag or a dime bag," said shop owner Ralph Alberto.But the dispensary could give the non-Montclair residents who go there to protest another cause.Last week, Bernadette Grant stood across the street from the dispensary's neighboring abortion clinic with rosary beads in one hand and anti-abortion pamphlets in the other. She said she considers medical marijuana in the same category as abortion."This is not pro-life ," she said. "This is pro-death."___Follow Mulvihill at http://www.twitter.com/geoffmulvihill

2021-10-30 14:12:29.565083

Research and Markets: Movies & Entertainment in the United States: Current Market Size and Forecasts to 2016

https://www.cnbc.com/2012/10/02/research-and-markets-movies-entertainment-in-the-united-states-current-market-size-and-forecasts-to-2016.html

2012-10-02T04:28:00+0000

CNBC

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/3clwfc/movies_and) has announced the addition of the "Movies & Entertainment in the United States" report to their offering. Movies & Entertainment in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information. Highlights - The movies & entertainment market consists of both producers and distributors of entertainment formats, such as movies and music. The movie box office segment is valued as the revenues received by box offices from total annual admissions. The home video segment covers sales of Blu-Ray, DVDs and VHS at end-user (retail) prices including paid video downloads. The music segment is valued as the revenues accruing from the sale (at retail prices) of recorded music in any physical or digital format, but excludes revenues from live performances. Any currency conversions used in the creation of this report have been calculated using constant 2011 annual average exchange rates. - The US movies & entertainment market had total revenues of $29.6 billion in 2011, representing a compound annual rate of change (CARC) of -5.5% between 2007 and 2011. - Video sales were the most lucrative for the US movies & entertainment market in 2011, with total revenues of $11.5 billion, equivalent to 38.9% of the market's overall value. - The performance of the market is forecast to decline further but with a slower pace, with an anticipated CARC of -1.6% for the five-year period 2011 - 2016, which is expected to drive the market to a value of $27.3 billion by the end of 2016. Key Questions Answered What was the size of the United States movies & entertainment market by value in 2011? What will be the size of the United States movies & entertainment market in 2016? What factors are affecting the strength of competition in the United States movies & entertainment market? How has the market performed over the last five years? For more information visit http://www.researchandmarkets.com/research/3clwfc/movies_and

cnbc, Articles, Europe, North America, United States, Ireland, Press Releases, CNBC Information and Policies, CNBC: News Releases, source:tagname:Business Wire

<div class="group"><p> DUBLIN--(BUSINESS WIRE)-- <strong>Research and Markets</strong> (<a href="http://www.researchandmarkets.com/research/3clwfc/movies_and" target="_blank">http://www.researchandmarkets.com/research/3clwfc/movies_and</a>) has announced the addition of the <a href="http://www.researchandmarkets.com/research/3clwfc/movies_and" target="_blank">"Movies &amp; Entertainment in the United States"</a> report to their offering. </p> <p> Movies &amp; Entertainment in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). </p> <div style="height:100%" class="lazyload-placeholder"></div><p> The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information. </p> <p> <strong>Highlights</strong> </p> <p> - The movies &amp; entertainment market consists of both producers and distributors of entertainment formats, such as movies and music. The movie box office segment is valued as the revenues received by box offices from total annual admissions. The home video segment covers sales of Blu-Ray, DVDs and VHS at end-user (retail) prices including paid video downloads. The music segment is valued as the revenues accruing from the sale (at retail prices) of recorded music in any physical or digital format, but excludes revenues from live performances. Any currency conversions used in the creation of this report have been calculated using constant 2011 annual average exchange rates. </p> <p> - The US movies &amp; entertainment market had total revenues of $29.6 billion in 2011, representing a compound annual rate of change (CARC) of -5.5% between 2007 and 2011. </p> <p> - Video sales were the most lucrative for the US movies &amp; entertainment market in 2011, with total revenues of $11.5 billion, equivalent to 38.9% of the market's overall value. </p><div style="height:100%" class="lazyload-placeholder"></div> <p> - The performance of the market is forecast to decline further but with a slower pace, with an anticipated CARC of -1.6% for the five-year period 2011 - 2016, which is expected to drive the market to a value of $27.3 billion by the end of 2016. </p> <p> <strong>Key Questions Answered</strong> </p> <p> What was the size of the United States movies &amp; entertainment market by value in 2011? </p> <p> What will be the size of the United States movies &amp; entertainment market in 2016? </p> <p> What factors are affecting the strength of competition in the United States movies &amp; entertainment market? </p> <p> How has the market performed over the last five years? </p> <p> <b>For more information visit </b><a href="http://www.researchandmarkets.com/research/3clwfc/movies_and" target="_blank">http://www.researchandmarkets.com/research/3clwfc/movies_and</a> </p> </div>

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/3clwfc/movies_and) has announced the addition of the "Movies & Entertainment in the United States" report to their offering. Movies & Entertainment in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information. Highlights - The movies & entertainment market consists of both producers and distributors of entertainment formats, such as movies and music. The movie box office segment is valued as the revenues received by box offices from total annual admissions. The home video segment covers sales of Blu-Ray, DVDs and VHS at end-user (retail) prices including paid video downloads. The music segment is valued as the revenues accruing from the sale (at retail prices) of recorded music in any physical or digital format, but excludes revenues from live performances. Any currency conversions used in the creation of this report have been calculated using constant 2011 annual average exchange rates. - The US movies & entertainment market had total revenues of $29.6 billion in 2011, representing a compound annual rate of change (CARC) of -5.5% between 2007 and 2011. - Video sales were the most lucrative for the US movies & entertainment market in 2011, with total revenues of $11.5 billion, equivalent to 38.9% of the market's overall value. - The performance of the market is forecast to decline further but with a slower pace, with an anticipated CARC of -1.6% for the five-year period 2011 - 2016, which is expected to drive the market to a value of $27.3 billion by the end of 2016. Key Questions Answered What was the size of the United States movies & entertainment market by value in 2011? What will be the size of the United States movies & entertainment market in 2016? What factors are affecting the strength of competition in the United States movies & entertainment market? How has the market performed over the last five years? For more information visit http://www.researchandmarkets.com/research/3clwfc/movies_and

2021-10-30 14:12:29.610243

Facebook is facing a level of uncertainty it hasn’t seen before, Goldman Sachs says

https://www.cnbc.com/2018/03/20/goldman-sachs-facebook-facing-a-level-of-uncertainty-it-hasnt-seen-before.html

2018-03-20T11:44:39+0000

Sam Meredith,Arjun Kharpal

CNBC

Facebook's ability to manage its data scandal will ultimately determine its long-term future, according to Goldman Sachs.Facebook was the worst-performing stock in the S&P 500 on Monday, posting its biggest one-day decline since March 2014. This followed reports over the weekend that political analytics firm Cambridge Analytica was able to collect data on 50 million people's profiles without their consent.The London-based company worked on Facebook ads with the Trump campaign, providing details on American voters.Facebook has come under fire for its role in the scandal and has been accused of mishandling users' data. "It certainly introduces a level of uncertainty that we haven't seen with Facebook before," Heath Terry, lead internet research analyst at Goldman Sachs, told CNBC on Tuesday.Terry said every fast-growing tech giant was likely to face a similar crisis, such as the so-called click fraud scandal that threatened Google's growth prospects in recent years."That's going to be the same here for Facebook. It's going to be how they manage through this that will ultimately determine their long-term future," Terry said.

cnbc, Articles, Social media industry, Social media, Data mining, Data privacy, Facebook data breach, Alphabet Class A, Donald Trump, Goldman Sachs Group Inc, Meta Platforms Inc, United States, United Kingdom, Business, Laws, Business News, World News, Technology, Social Media, source:tagname:CNBC Europe Source

<div class="group"><p><a href="//www.cnbc.com/quotes/FB" target="_blank">Facebook's</a> ability to manage its data scandal will ultimately determine its long-term future, according to <a href="//www.cnbc.com/quotes/GS" target="_blank">Goldman Sachs</a>.</p><p>Facebook was the <a href="https://www.cnbc.com/2018/03/18/markets-dont-care-about-trumps-twitter-meltdown--futures-basically-indicate-a-flat-open.html">worst-performing stock</a> in the S&amp;P 500 on Monday, posting its biggest one-day decline since March 2014. This followed <a href="https://www.cnbc.com/2018/03/19/cambridge-analytica-sting-execs-suggested-sex-workers-bribes.html">reports</a> over the weekend that political analytics firm Cambridge Analytica was able to collect data on 50 million people's profiles without their consent.<br><br>The London-based company worked on Facebook ads with the <a href="https://www.cnbc.com/donald-trump/">Trump</a> campaign, providing details on American voters.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Facebook has come under fire for its role in the scandal and has been accused of mishandling users' data. <br><br>"It certainly introduces a level of uncertainty that we haven't seen with Facebook before," Heath Terry, lead internet research analyst at Goldman Sachs, told CNBC on Tuesday.</p><p>Terry said every fast-growing tech giant was likely to face a similar crisis, such as the so-called <a href="https://www.wsj.com/articles/google-issuing-refunds-to-advertisers-over-fake-traffic-plans-new-safeguard-1503675395" target="_blank">click fraud scandal</a> that threatened <a href="//www.cnbc.com/quotes/GOOGL" target="_blank">Google</a>'s growth prospects in recent years.</p><p>"That's going to be the same here for Facebook. It's going to be how they manage through this that will ultimately determine their long-term future," Terry said.</p></div>,<div class="group"><p>Goldman Sachs has a buy rating on Facebook's stock. </p><p>Prior to revelations in recent days about the potential misuse of Facebook data, U.S. lawmakers had already grappled with social media platforms' growing political influence and whether it would be necessary to impose more stringent regulatory measures.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Terry said that while heightened regulatory measures regarding online political ads were now inevitable, the prospect of significantly onerous regulatory measures would be "something we have got to watch."</p><p>When asked whether such measures could then impact the growth story of Facebook, Terry replied: "Certainly."</p></div>,<div class="group"></div>,<div class="group"><p>The media firestorm surrounding Facebook and Cambridge Analytica comes after Britain's Channel 4 News carried out an undercover investigation into the London-based political data firm. Undercover filming appeared to show senior executives suggesting the firm could use sex workers, bribes, ex-spies and fake news to help candidates win votes around the world.</p><p>The Channel 4 News investigation, broadcast Monday, comes after articles published by The New York Times and U.K. newspaper The Observer, showed how the data of millions of Facebook profiles ended up being given to Cambridge Analytica.<br><br>Academician Aleksandr Kogan and his company Global Science Research created an app called "thisisyourdigitallife" in 2014. Users were paid to take a psychological test and the app collected the data. It also gathered data on a person's Facebook friends, according to the newspapers.<br><br>In this way, 50 million Facebook profiles were mined for data. Kogan then shared this with Cambridge Analytica, which allowed the firm to build a software solution to help influence choices in elections, according to whistleblower Christopher Wylie, who revealed the alleged practices to both newspapers.</p><p>Both Kogan and Cambridge Analytica have denied wrongdoing. </p></div>,<div class="group"><p>In a company statement, Cambridge Analytica said the Channel 4 News investigation had "grossly misrepresented" the conversations caught on camera.</p><p>"In playing along with this line of conversation, and partly to spare our 'client' from embarrassment, we entertained a series of ludicrous hypothetical scenarios," it said. <br><br>"Cambridge Analytica does not condone or engage in entrapment, bribes or so-called 'honeytraps'," the firm added.</p></div>

Facebook's ability to manage its data scandal will ultimately determine its long-term future, according to Goldman Sachs.Facebook was the worst-performing stock in the S&P 500 on Monday, posting its biggest one-day decline since March 2014. This followed reports over the weekend that political analytics firm Cambridge Analytica was able to collect data on 50 million people's profiles without their consent.The London-based company worked on Facebook ads with the Trump campaign, providing details on American voters.Facebook has come under fire for its role in the scandal and has been accused of mishandling users' data. "It certainly introduces a level of uncertainty that we haven't seen with Facebook before," Heath Terry, lead internet research analyst at Goldman Sachs, told CNBC on Tuesday.Terry said every fast-growing tech giant was likely to face a similar crisis, such as the so-called click fraud scandal that threatened Google's growth prospects in recent years."That's going to be the same here for Facebook. It's going to be how they manage through this that will ultimately determine their long-term future," Terry said.Goldman Sachs has a buy rating on Facebook's stock. Prior to revelations in recent days about the potential misuse of Facebook data, U.S. lawmakers had already grappled with social media platforms' growing political influence and whether it would be necessary to impose more stringent regulatory measures.Terry said that while heightened regulatory measures regarding online political ads were now inevitable, the prospect of significantly onerous regulatory measures would be "something we have got to watch."When asked whether such measures could then impact the growth story of Facebook, Terry replied: "Certainly."The media firestorm surrounding Facebook and Cambridge Analytica comes after Britain's Channel 4 News carried out an undercover investigation into the London-based political data firm. Undercover filming appeared to show senior executives suggesting the firm could use sex workers, bribes, ex-spies and fake news to help candidates win votes around the world.The Channel 4 News investigation, broadcast Monday, comes after articles published by The New York Times and U.K. newspaper The Observer, showed how the data of millions of Facebook profiles ended up being given to Cambridge Analytica.Academician Aleksandr Kogan and his company Global Science Research created an app called "thisisyourdigitallife" in 2014. Users were paid to take a psychological test and the app collected the data. It also gathered data on a person's Facebook friends, according to the newspapers.In this way, 50 million Facebook profiles were mined for data. Kogan then shared this with Cambridge Analytica, which allowed the firm to build a software solution to help influence choices in elections, according to whistleblower Christopher Wylie, who revealed the alleged practices to both newspapers.Both Kogan and Cambridge Analytica have denied wrongdoing. In a company statement, Cambridge Analytica said the Channel 4 News investigation had "grossly misrepresented" the conversations caught on camera."In playing along with this line of conversation, and partly to spare our 'client' from embarrassment, we entertained a series of ludicrous hypothetical scenarios," it said. "Cambridge Analytica does not condone or engage in entrapment, bribes or so-called 'honeytraps'," the firm added.

2021-10-30 14:12:29.746071

Meet Rashida Tlaib and Ilhan Omar, the first Muslim women elected to Congress

https://www.cnbc.com/2018/11/07/rashida-tlaib-ilhan-omar-are-the-1st-muslim-women-elected-to-congress.html

2018-11-07T18:07:18+0000

Courtney Connley

CNBC

Rashida Tlaib and Ilhan Omar made history last night. The two are the first Muslim women elected to serve in Congress.Tlaib, who ran unopposed after securing the Democratic nomination in August, won in Michigan's 13th Congressional District, and Omar, who faced Republican Jennifer Zielinki, won in Minnesota's 5th Congressional District.Following the win, Omar took to Twitter to congratulate Tlaib on her victory and to acknowledge the history they made.TwitterTlaib, who was born to Palestinian parents, first made history in 2008 when she became the first Muslim woman to be elected State Representative. From 2009 to 2014 she served in the Michigan House of Representatives, where she helped secure millions of dollars for free health clinics, Meals on Wheels programs for seniors and before and after school education funding, according to her campaign website.

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2021-10-30 14:12:29.825535

US job cuts soar, thanks to tech layoffs: Challenger

https://www.cnbc.com/2014/07/31/us-employers-plan-to-cut-payrolls-by-46887-in-july-challenger.html

2014-07-31T11:30:42+0000

CNBC

U.S. employers planned to cut nearly 50,000 positions in July, Challenger, Gray & Christmas reported Thursday, meting out 50 percent more job cuts than in the prior month.The global outplacement firm said in its monthly layoff report that planned payroll reductions hit 46,887, the second highest level of the year. That compares with June's 31,434 cuts, which were the fewest of 2014. The firm added that massive staff reductions by Hewlett-Packard and Microsoft helped inflate this month's figure.To date, employers have announced 292,921 job cuts, a level slightly below the comparable year-ago period, Challenger reported. —By CNBC.com

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<div class="group"><p>U.S. employers planned to cut nearly 50,000 positions in July, Challenger, Gray &amp; Christmas reported Thursday, meting out 50 percent more job cuts than in the prior month.</p><p>The global outplacement firm said in its monthly layoff report that planned payroll reductions hit 46,887, the second highest level of the year. That compares with June's 31,434 cuts, which were the fewest of 2014. The firm added that massive staff reductions by <a href="//www.cnbc.com/quotes/HPQ" target="_blank">Hewlett-Packard</a> and <a href="//www.cnbc.com/quotes/MSFT" target="_blank">Microsoft</a> helped inflate this month's figure.</p><div style="height:100%" class="lazyload-placeholder"></div><p>To date, employers have announced <span>292,921 job cuts, a level slightly below the comparable year-ago period, Challenger reported. </span></p><p><em> —By CNBC.com</em></p></div>

U.S. employers planned to cut nearly 50,000 positions in July, Challenger, Gray & Christmas reported Thursday, meting out 50 percent more job cuts than in the prior month.The global outplacement firm said in its monthly layoff report that planned payroll reductions hit 46,887, the second highest level of the year. That compares with June's 31,434 cuts, which were the fewest of 2014. The firm added that massive staff reductions by Hewlett-Packard and Microsoft helped inflate this month's figure.To date, employers have announced 292,921 job cuts, a level slightly below the comparable year-ago period, Challenger reported. —By CNBC.com

2021-10-30 14:12:29.992726

FOREX-Dollar firm vs yen and euro before U.S. jobs data

https://www.cnbc.com/2012/11/02/forexdollar-firm-vs-yen-and-euro-before-us-jobs-data.html

2012-11-02T15:33:00+0000

CNBC

* Upbeat U.S. private payrolls data boosts dollar* Yen hampered by Japan's trade deficit, economic woes* Euro has been hit by Greek court ruling on austerity stepsLONDON, Nov 2 (Reuters) - The dollar rose to a near four month-high against the yen on Friday as investors bet on an upbeat U.S. payrolls report after private employers added jobs at the fastest pace in eight months. The euro fell to a three-week low against the dollar on selling by long-term investors. The euro has also been under pressure since a Greek court ruled on Thursday that pension reform demanded by foreign lenders may be unconstitutional. That raised concerns about Athens' ability to implement the austerity measures needed to secure bailout funds. All these drove the dollar index to a seven-week high of 80.389, breaking above its 55-day moving average of 80.14. The dollar was up 0.2 percent on the day at 80.31 yen, just shy of last week's four-month high of 80.38. Traders reported an option barrier at 80.50 yen with hedge funds ready to buy the dollar on dips if the U.S. jobs numbers disappointed. A break of resistance at 80.60-65, a chart triple top marked between May and June and a 50 percent retracement of the dollar's March to September decline, could signal further gains. ``A good U.S. jobs number will no doubt give a leg up to dollar/yen,'' said John Hardy, currency strategist at Saxo Bank. ``From a medium-term view, we are bullish on dollar/yen and the pair has established a base around 79 yen for a rally to 88 yen in a year's time,'' he said. The yen has come under pressure because recent Japanese data and corporate earnings have been soft. Third-quarter economic output data, due on Nov. 11, is also likely to have contracted. Payrolls processor Automatic Data Processing said private employers added 158,000 workers last month, bolstering expectations that the non-farm payrolls report due at 1230 GMT may beat forecasts. A Reuters poll forecasts a rise of 125,000 U.S. non-farm payrolls in October. The unemployment rate is seen ticking up to 7.9 percent. Any market reaction to the jobs data may be short-lived given the uncertainty of the outcome of Tuesday's U.S. presidential election.EURO ZONE STRUGGLES Some, however, are less sure about a sustained rise in the dollar as investors fret over the so-called ``fiscal cliff'' of looming tax rises and spending cuts in the United States. ``Over the course of the next month we would expect to move lower in dollar/yen, any upside above 81 would be surprising driven by U.S. negativity surrounding the fiscal cliff,'' said Christian Lawrence, currency strategist at Rabobank. The euro fell 0.4 percent to $1.2885, a three-week low, as traders sold the single currency, triggering an option barrier at $1.2880. Bids from Asian central banks and Middle East investors were cited below $1.2850. However, the euro held within the $1.2800-3200 range seen since September, underpinned by the European Central Bank's pledge to buy bonds of indebted euro zone countries that seek aid. Signals in the option market showed the pair was likely to trade in a range in coming weeks. The one-month implied volatility on euro/dollar options fell to fresh five-year lows around 7.50 percent. Data on Friday showed peripheral euro zone countries were still struggling. Spain's manufacturing sector shrank last month at it fastest pace since July, while Italian factory activity shrank in October for the 15th month running. Commodity currencies eased after rallying earlier in the day. The Australian dollar hit a five-week high of $1.0420 before giving up gains to stand at $1.0380 as caution set in before the U.S. jobs data. The currency was helped by Thursday's improvement in manufacturing data from China, Australia's main export market.

cnbc, Articles, Ukraine, Europe, North America, Middle East, Australasia, United States, United Kingdom, London, Greece, Australia & New Zealand, Spain, Japan, China, Wires, source:tagname:Reuters

<div class="group"><p>* Upbeat U.S. private payrolls data boosts dollar</p><p>* Yen hampered by Japan's trade deficit, economic woes</p><div style="height:100%" class="lazyload-placeholder"></div><p>* Euro has been hit by Greek court ruling on austerity steps</p><p>LONDON, Nov 2 (Reuters) - The dollar rose to a near four month-high against the yen on Friday as investors bet on an upbeat U.S. payrolls report after private employers added jobs at the fastest pace in eight months. The euro fell to a three-week low against the dollar on selling by long-term investors. The euro has also been under pressure since a Greek court ruled on Thursday that pension reform demanded by foreign lenders may be unconstitutional. That raised concerns about Athens' ability to implement the austerity measures needed to secure bailout funds. All these drove the dollar index to a seven-week high of 80.389, breaking above its 55-day moving average of 80.14. The dollar was up 0.2 percent on the day at 80.31 yen, just shy of last week's four-month high of 80.38. Traders reported an option barrier at 80.50 yen with hedge funds ready to buy the dollar on dips if the U.S. jobs numbers disappointed. A break of resistance at 80.60-65, a chart triple top marked between May and June and a 50 percent retracement of the dollar's March to September decline, could signal further gains. ``A good U.S. jobs number will no doubt give a leg up to dollar/yen,'' said John Hardy, currency strategist at Saxo Bank. ``From a medium-term view, we are bullish on dollar/yen and the pair has established a base around 79 yen for a rally to 88 yen in a year's time,'' he said. The yen has come under pressure because recent Japanese data and corporate earnings have been soft. Third-quarter economic output data, due on Nov. 11, is also likely to have contracted. Payrolls processor Automatic Data Processing said private employers added 158,000 workers last month, bolstering expectations that the non-farm payrolls report due at 1230 GMT may beat forecasts. A Reuters poll forecasts a rise of 125,000 U.S. non-farm payrolls in October. The unemployment rate is seen ticking up to 7.9 percent. Any market reaction to the jobs data may be short-lived given the uncertainty of the outcome of Tuesday's U.S. presidential election.</p><p>EURO ZONE STRUGGLES Some, however, are less sure about a sustained rise in the dollar as investors fret over the so-called ``fiscal cliff'' of looming tax rises and spending cuts in the United States. ``Over the course of the next month we would expect to move lower in dollar/yen, any upside above 81 would be surprising driven by U.S. negativity surrounding the fiscal cliff,'' said Christian Lawrence, currency strategist at Rabobank. The euro fell 0.4 percent to $1.2885, a three-week low, as traders sold the single currency, triggering an option barrier at $1.2880. Bids from Asian central banks and Middle East investors were cited below $1.2850. However, the euro held within the $1.2800-3200 range seen since September, underpinned by the European Central Bank's pledge to buy bonds of indebted euro zone countries that seek aid. Signals in the option market showed the pair was likely to trade in a range in coming weeks. The one-month implied volatility on euro/dollar options fell to fresh five-year lows around 7.50 percent. Data on Friday showed peripheral euro zone countries were still struggling. Spain's manufacturing sector shrank last month at it fastest pace since July, while Italian factory activity shrank in October for the 15th month running. Commodity currencies eased after rallying earlier in the day. The Australian dollar hit a five-week high of $1.0420 before giving up gains to stand at $1.0380 as caution set in before the U.S. jobs data. The currency was helped by Thursday's improvement in manufacturing data from China, Australia's main export market.</p></div>

* Upbeat U.S. private payrolls data boosts dollar* Yen hampered by Japan's trade deficit, economic woes* Euro has been hit by Greek court ruling on austerity stepsLONDON, Nov 2 (Reuters) - The dollar rose to a near four month-high against the yen on Friday as investors bet on an upbeat U.S. payrolls report after private employers added jobs at the fastest pace in eight months. The euro fell to a three-week low against the dollar on selling by long-term investors. The euro has also been under pressure since a Greek court ruled on Thursday that pension reform demanded by foreign lenders may be unconstitutional. That raised concerns about Athens' ability to implement the austerity measures needed to secure bailout funds. All these drove the dollar index to a seven-week high of 80.389, breaking above its 55-day moving average of 80.14. The dollar was up 0.2 percent on the day at 80.31 yen, just shy of last week's four-month high of 80.38. Traders reported an option barrier at 80.50 yen with hedge funds ready to buy the dollar on dips if the U.S. jobs numbers disappointed. A break of resistance at 80.60-65, a chart triple top marked between May and June and a 50 percent retracement of the dollar's March to September decline, could signal further gains. ``A good U.S. jobs number will no doubt give a leg up to dollar/yen,'' said John Hardy, currency strategist at Saxo Bank. ``From a medium-term view, we are bullish on dollar/yen and the pair has established a base around 79 yen for a rally to 88 yen in a year's time,'' he said. The yen has come under pressure because recent Japanese data and corporate earnings have been soft. Third-quarter economic output data, due on Nov. 11, is also likely to have contracted. Payrolls processor Automatic Data Processing said private employers added 158,000 workers last month, bolstering expectations that the non-farm payrolls report due at 1230 GMT may beat forecasts. A Reuters poll forecasts a rise of 125,000 U.S. non-farm payrolls in October. The unemployment rate is seen ticking up to 7.9 percent. Any market reaction to the jobs data may be short-lived given the uncertainty of the outcome of Tuesday's U.S. presidential election.EURO ZONE STRUGGLES Some, however, are less sure about a sustained rise in the dollar as investors fret over the so-called ``fiscal cliff'' of looming tax rises and spending cuts in the United States. ``Over the course of the next month we would expect to move lower in dollar/yen, any upside above 81 would be surprising driven by U.S. negativity surrounding the fiscal cliff,'' said Christian Lawrence, currency strategist at Rabobank. The euro fell 0.4 percent to $1.2885, a three-week low, as traders sold the single currency, triggering an option barrier at $1.2880. Bids from Asian central banks and Middle East investors were cited below $1.2850. However, the euro held within the $1.2800-3200 range seen since September, underpinned by the European Central Bank's pledge to buy bonds of indebted euro zone countries that seek aid. Signals in the option market showed the pair was likely to trade in a range in coming weeks. The one-month implied volatility on euro/dollar options fell to fresh five-year lows around 7.50 percent. Data on Friday showed peripheral euro zone countries were still struggling. Spain's manufacturing sector shrank last month at it fastest pace since July, while Italian factory activity shrank in October for the 15th month running. Commodity currencies eased after rallying earlier in the day. The Australian dollar hit a five-week high of $1.0420 before giving up gains to stand at $1.0380 as caution set in before the U.S. jobs data. The currency was helped by Thursday's improvement in manufacturing data from China, Australia's main export market.

2021-10-30 14:12:30.414463

Cortera Appoints Gary Brooks as Chief Marketing Officer

https://www.cnbc.com/2012/10/01/cortera-appoints-gary-brooks-as-chief-marketing-officer.html

2012-10-01T12:00:00+0000

CNBC

Industry veteran to accelerate growth and market awareness of B2B Purchase Behavior BOCA RATON, Fla.--(BUSINESS WIRE)-- Cortera®, a provider of comprehensive business-to-business payment and purchase data and insights for U.S. companies, announced Gary Brooks has been named chief marketing officer (CMO). Brooks brings more than 20 years of technology marketing experience to Cortera where he manages the development and execution of the company's marketing strategy. In this capacity, he focuses on expanding Cortera's leadership position and accelerating revenue growth through the management of strategic positioning, branding, demand generation and sales readiness. Brooks most recently served as executive vice president of marketing for Bomgar Corp., which provides secure remote support solutions for businesses. Prior to that, he served in executive leadership roles with Servigistics (acquired by Marline Equity Partners), KnowledgeStorm (acquired by Tech Target), TRADEX (acquired by Ariba), Ariba, Fortress Technologies, AltaVista (acquired by Compaq) and Digital Equipment (acquired by Compaq). "Gary's entrepreneurial spirit, results orientation and reputation for scaling revenue makes him the perfect fit for Cortera as we gear up for our next phase of growth," said Jim Swift, president and chief executive officer at Cortera. "Gary joins the company at a pivotal moment in its history as leading companies increasingly understand how B2B purchase behavior—what companies buy and how their spending changes over time—can be used to dramatically increase revenue and reduce risk.” “I’m thrilled to be part of an innovative organization that is enabling companies to use B2B purchase behavior data to improve sales and marketing effectiveness,” said Gary Brooks, CMO for Cortera. “Knowing a customer or prospects’ propensity to buy a particular product enables marketing and sales professionals to efficiently find new customers, retain existing customers and maximize revenue from both.” Brooks holds a bachelor's degree from Northeastern University, a master's degree from Lesley University and has been an active leader in a variety of volunteer positions in the communities where he has resided. About Cortera Cortera is a provider of comprehensive business-to-business payment and purchase behavior insights on public and private companies. The company tracks $1.6 trillion in business-to-business purchases across 45 spend categories to deliver insights on 20 million U.S. business locations. Cortera’s solutions enable companies of all sizes to better understand their customers, suppliers and business partners by gaining visibility into what they purchase, how they pay and how their purchase and payment behavior changes over time. Thousands of companies across diverse industries use Cortera solutions to increase revenue, improve sales and marketing effectiveness, and reduce risk. Cortera is privately held with offices in Boca Raton, Fla.; Boston and Quincy Massachusetts and Bangalore, India.

cnbc, Articles, Information Technology, Massachusetts, Florida, Boston, North America, United States, Press Releases, Southeast Asia, India, CNBC Information and Policies, CNBC: News Releases, source:tagname:Business Wire

<div class="group"><p> Industry veteran to accelerate growth and market awareness of B2B Purchase Behavior </p> <p> BOCA RATON, Fla.--(BUSINESS WIRE)-- <a href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;amp;url=http%3A%2F%2Fwww.cortera.com%2F&amp;amp;esheet=50424688&amp;amp;lan=en-US&amp;amp;anchor=Cortera%C2%AE&amp;amp;index=1&amp;amp;md5=176d6b86413d704af9f64722132ecd13" target="_blank">Cortera®</a>, a provider of comprehensive business-to-business payment and purchase data and insights for U.S. companies, announced Gary Brooks has been named chief marketing officer (CMO). </p> <div style="height:100%" class="lazyload-placeholder"></div><p> Brooks brings more than 20 years of technology marketing experience to Cortera where he manages the development and execution of the company's marketing strategy. In this capacity, he focuses on expanding Cortera's leadership position and accelerating revenue growth through the management of strategic positioning, branding, demand generation and sales readiness. </p> <p> Brooks most recently served as executive vice president of marketing for Bomgar Corp., which provides secure remote support solutions for businesses. Prior to that, he served in executive leadership roles with Servigistics (acquired by Marline Equity Partners), KnowledgeStorm (acquired by Tech Target), TRADEX (acquired by Ariba), Ariba, Fortress Technologies, AltaVista (acquired by Compaq) and Digital Equipment (acquired by Compaq). </p> <p> "Gary's entrepreneurial spirit, results orientation and reputation for scaling revenue makes him the perfect fit for Cortera as we gear up for our next phase of growth," said Jim Swift, president and chief executive officer at Cortera. "Gary joins the company at a pivotal moment in its history as leading companies increasingly understand how B2B purchase behavior—what companies buy and how their spending changes over time—can be used to dramatically increase revenue and reduce risk.” </p> <p> “I’m thrilled to be part of an innovative organization that is enabling companies to use B2B purchase behavior data to improve sales and marketing effectiveness,” said Gary Brooks, CMO for Cortera. “Knowing a customer or prospects’ propensity to buy a particular product enables marketing and sales professionals to efficiently find new customers, retain existing customers and maximize revenue from both.” </p> <p> Brooks holds a bachelor's degree from Northeastern University, a master's degree from Lesley University and has been an active leader in a variety of volunteer positions in the communities where he has resided. </p><div style="height:100%" class="lazyload-placeholder"></div> <p> <b>About Cortera</b> </p> <p> Cortera is a provider of comprehensive business-to-business payment and purchase behavior insights on public and private companies. The company tracks $1.6 trillion in business-to-business purchases across 45 spend categories to deliver insights on 20 million U.S. business locations. Cortera’s solutions enable companies of all sizes to better understand their customers, suppliers and business partners by gaining visibility into what they purchase, how they pay and how their purchase and payment behavior changes over time. Thousands of companies across diverse industries use Cortera solutions to increase revenue, improve sales and marketing effectiveness, and reduce risk. Cortera is privately held with offices in Boca Raton, Fla.; Boston and Quincy Massachusetts and Bangalore, India. </p> </div>

Industry veteran to accelerate growth and market awareness of B2B Purchase Behavior BOCA RATON, Fla.--(BUSINESS WIRE)-- Cortera®, a provider of comprehensive business-to-business payment and purchase data and insights for U.S. companies, announced Gary Brooks has been named chief marketing officer (CMO). Brooks brings more than 20 years of technology marketing experience to Cortera where he manages the development and execution of the company's marketing strategy. In this capacity, he focuses on expanding Cortera's leadership position and accelerating revenue growth through the management of strategic positioning, branding, demand generation and sales readiness. Brooks most recently served as executive vice president of marketing for Bomgar Corp., which provides secure remote support solutions for businesses. Prior to that, he served in executive leadership roles with Servigistics (acquired by Marline Equity Partners), KnowledgeStorm (acquired by Tech Target), TRADEX (acquired by Ariba), Ariba, Fortress Technologies, AltaVista (acquired by Compaq) and Digital Equipment (acquired by Compaq). "Gary's entrepreneurial spirit, results orientation and reputation for scaling revenue makes him the perfect fit for Cortera as we gear up for our next phase of growth," said Jim Swift, president and chief executive officer at Cortera. "Gary joins the company at a pivotal moment in its history as leading companies increasingly understand how B2B purchase behavior—what companies buy and how their spending changes over time—can be used to dramatically increase revenue and reduce risk.” “I’m thrilled to be part of an innovative organization that is enabling companies to use B2B purchase behavior data to improve sales and marketing effectiveness,” said Gary Brooks, CMO for Cortera. “Knowing a customer or prospects’ propensity to buy a particular product enables marketing and sales professionals to efficiently find new customers, retain existing customers and maximize revenue from both.” Brooks holds a bachelor's degree from Northeastern University, a master's degree from Lesley University and has been an active leader in a variety of volunteer positions in the communities where he has resided. About Cortera Cortera is a provider of comprehensive business-to-business payment and purchase behavior insights on public and private companies. The company tracks $1.6 trillion in business-to-business purchases across 45 spend categories to deliver insights on 20 million U.S. business locations. Cortera’s solutions enable companies of all sizes to better understand their customers, suppliers and business partners by gaining visibility into what they purchase, how they pay and how their purchase and payment behavior changes over time. Thousands of companies across diverse industries use Cortera solutions to increase revenue, improve sales and marketing effectiveness, and reduce risk. Cortera is privately held with offices in Boca Raton, Fla.; Boston and Quincy Massachusetts and Bangalore, India.

2021-10-30 14:12:30.475284

The Most Amazing Press Release Ever?

https://www.cnbc.com/2011/01/12/the-most-amazing-press-release-ever.html

2011-01-12T18:01:38+0000

Jane Wells

CNBC

Funny Business readers know how I feel about press releases sent to me which are either far outside the field of business news ("We are reaching out to gauge your interest in visiting the Caribbean island of Curaçao in 2011"), or lacking pizzazz ("Northrop GrummanDelivers 20,000th LN-200 Inertial Measurement Unit").Today, however, I discovered the most amazing press release ever, written by a man, an Apple, and a dog. PR professionals, take note. This is how to get attention. Click here to read "The Most Amazing Press Release Ever."

cnbc, Articles, Opinion, Blogs, Funny Business with Jane Wells, source:tagname:CNBC US Source

<div class="group"><p>Funny Business readers know how I feel about press releases sent to me which are either far outside the field of business news ("We are reaching out to gauge your interest in visiting the Caribbean island of Curaçao in 2011"), or lacking pizzazz ("<a href="http://www.irconnect.com/noc/press/pages/news_releases.html?d=210788" target="_blank">Northrop GrummanDelivers 20,000th LN-200 Inertial Measurement Unit</a>").</p><p>Today, however, I discovered the most amazing press release ever, written by a man, an Apple, and a dog. </p><div style="height:100%" class="lazyload-placeholder"></div><p>PR professionals, take note. </p><p>This is how to get attention. Click here to read <a href="http://m.prnewswire.com/news-releases/the-most-amazing-press-release-ever-written-113302099.html?cf_synd_id=5-v66Pq" target="_blank">"The Most Amazing Press Release Ever."</a></p><em>Questions? Comments? Funny Stories? Email </em><a href="mailto:funnybusiness@cnbc.com"><em>funnybusiness@cnbc.com</em></a></div>

Funny Business readers know how I feel about press releases sent to me which are either far outside the field of business news ("We are reaching out to gauge your interest in visiting the Caribbean island of Curaçao in 2011"), or lacking pizzazz ("Northrop GrummanDelivers 20,000th LN-200 Inertial Measurement Unit").Today, however, I discovered the most amazing press release ever, written by a man, an Apple, and a dog. PR professionals, take note. This is how to get attention. Click here to read "The Most Amazing Press Release Ever."Questions? Comments? Funny Stories? Email funnybusiness@cnbc.com

2021-10-30 14:12:30.560346

WALL-E Cleans Up at Box Office

https://www.cnbc.com/2008/06/30/walle-cleans-up-at-box-office.html

2008-06-30T12:33:47+0000

CNBC

Animation giant Pixar scored its ninth consecutive No. 1 Sunday with its robot love story "WALL-E," while Angelina Jolie achieved a personal best with her violent assassination thriller "Wanted." "WALL-E," bolstered by near-unanimous critical praise, sold an estimated $62.5 million of tickets in its first three days, said Pixar's Walt Disney Co parent.It tied with 2001's "Monsters, Inc." to become Pixar's third-best opener.Pixar has gone to No. 1 with all nine of its movies, an unprecedented run that begin in 1995 with "Toy Story." The company record of $70.5 million was set in 2004 by "The Incredibles." Industry pundits had forecast an opening for "WALL-E" in the $50 million to $60 million range."Anything north of 60 (million dollars), we were going to be ecstatic," said Mark Zoradi, president of Walt Disney Studios Motion Picture Group .Meanwhile Jolie, whose career has been overshadowed in recent years by breathless tabloid coverage of her personal life, kicked off at No. 2 with "Wanted." The Universal Pictures release earned about $51.1 million, easily beating forecasts of an opening in the mid- to high-$30 million range.Her previous record for a live-action movie was 2005's "Mr. & Mrs. Smith," which opened to $50 million.The General Electric Co-owned studio said "Wanted" ranks as the third-highest opening for an R-rated action film, behind "The Matrix Reloaded ($91.7 million) and "300" ($70.9 million).SALES SOAR "WALL-E" and "Wanted," clearly aimed at disparate audiences, helped pushed overall sales to their highest level of the year, said tracking firm Media By Numbers.The top 12 films grossed $179 million, up 29 percent from last weekend, and up 20 percent from the year-ago period, when Pixar's "Ratatouille" opened at No. 1 with $47 million on its way to $206 million.Last weekend's champion, the Warner Bros spy comedy "Get Smart," slipped to No. 3 with $20 million, taking its 10-day haul to $77.3 million.The film, which stars Steve Carell as the inept hero Maxwell Smart, should finish up with about $130 million, said the Time Warner Inc-owned studio .Rounding out the top five, Pixar rival DreamWorks Animation SKG Inc's "Kung Fu Panda" slipped one to No. 4 with $11.7 million, taking its total to $179.3 million.The film opened four weeks ago to $60.2 million.Marvel Entertainment Inc's "The Incredible Hulk" fell three to No. 5 with $9.2 million.The superhero adaptation has earned $115.5 million after three weeks, roughly on par with its unloved 2003 predecessor "The Hulk." "WALL-E," a space adventure mixing an unusual love story with somber messages about the future of Earth and humankind, was directed by Andrew Stanton, who won an Academy Award for Pixar's 2003 hit "Finding Nemo." The title character, or Waste Allocation Load Lifter Earth-Class, is the last of a cadre of robots tasked with cleaning up piles of trash discarded by humans who abandoned the planet centuries before.The human race set off on a luxury space cruise during a planned five-year clean-up that lasts much longer and results in unfortunate changes in the human physique and psyche.The arrival of a sleek girl robot named Eve, sent to Earth by the orbiting humans to look for plant life, sends Wall-E on an adventure that changes his own and humanity's destinies.Critics heaped praise on the film.According to Rotten Tomatoes, a Web site that collects reviews, an astonishing 96 percent of critics liked the film.Michael Phillips of the Chicago Tribune said on TV's "Ebert & Roeper" that it was perhaps "the best American studio picture of the year," but the Hollywood Reporter said "it might be too clever to connect with mainstream audiences." Disney's Zoradi said "WALL-E" was not a conventional cartoon, but the studio was "confident from the get-go" that it would work.He declined to reveal the film's budget, in line with Disney's policy."WALL-E" also opened at No. 1 in six small foreign markets, led by Brazil with $1.6 million, Zoradi said.It will reach Russia and Mexico next weekend, followed by the U.K. in mid-July, timed with the school holidays in each market."Wanted," a $74 million comic book adaptation directed by Kazakhstan-born filmmaker Timur Bekmambetov, stars Scottish actor James McAvoy ("The Last King of Scotland") as an office drone recruited to an elite order of assassins by Jolie and Morgan Freeman.Critics were also enthused.______________________________An earlier version of this story had outdated box office information.

cnbc, Articles, Viacom Inc, Marvell Technology Inc, Time Warner Inc, General Electric Co, Walt Disney Co, Technology, Media, source:tagname:Reuters

<div class="group"><p>Animation giant Pixar scored its ninth consecutive No. 1 Sunday with its robot love story "WALL-E," while Angelina Jolie achieved a personal best with her violent assassination thriller "Wanted." "WALL-E," bolstered by near-unanimous critical praise, sold an estimated $62.5 million of tickets in its first three days, said Pixar's Walt Disney Co parent.</p><p>It tied with 2001's "Monsters, Inc." to become Pixar's third-best opener.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Pixar has gone to No. 1 with all nine of its movies, an unprecedented run that begin in 1995 with "Toy Story." The company record of $70.5 million was set in 2004 by "The Incredibles." Industry pundits had forecast an opening for "WALL-E" in the $50 million to $60 million range.</p><p>"Anything north of 60 (million dollars), we were going to be ecstatic," said Mark Zoradi, president of Walt Disney Studios Motion Picture Group .</p><p>Meanwhile Jolie, whose career has been overshadowed in recent years by breathless tabloid coverage of her personal life, kicked off at No. 2 with "Wanted." The Universal Pictures release earned about $51.1 million, easily beating forecasts of an opening in the mid- to high-$30 million range.</p><p>Her previous record for a live-action movie was 2005's "Mr. &amp; Mrs. Smith," which opened to $50 million.</p><p>The General Electric Co-owned studio said "Wanted" ranks as the third-highest opening for an R-rated action film, behind "The Matrix Reloaded ($91.7 million) and "300" ($70.9 million).</p><div style="height:100%" class="lazyload-placeholder"></div><p>SALES SOAR </p><p>"WALL-E" and "Wanted," clearly aimed at disparate audiences, helped pushed overall sales to their highest level of the year, said tracking firm Media By Numbers.</p><p>The top 12 films grossed $179 million, up 29 percent from last weekend, and up 20 percent from the year-ago period, when Pixar's "Ratatouille" opened at No. 1 with $47 million on its way to $206 million.</p><p>Last weekend's champion, the Warner Bros spy comedy "Get Smart," slipped to No. 3 with $20 million, taking its 10-day haul to $77.3 million.</p><p>The film, which stars Steve Carell as the inept hero Maxwell Smart, should finish up with about $130 million, said the Time Warner Inc-owned studio .</p><p>Rounding out the top five, Pixar rival DreamWorks Animation SKG Inc's "Kung Fu Panda" slipped one to No. 4 with $11.7 million, taking its total to $179.3 million.</p><p>The film opened four weeks ago to $60.2 million.</p><p>Marvel Entertainment Inc's "The Incredible Hulk" fell three to No. 5 with $9.2 million.</p><p>The superhero adaptation has earned $115.5 million after three weeks, roughly on par with its unloved 2003 predecessor "The Hulk." "WALL-E," a space adventure mixing an unusual love story with somber messages about the future of Earth and humankind, was directed by Andrew Stanton, who won an Academy Award for Pixar's 2003 hit "Finding Nemo." The title character, or Waste Allocation Load Lifter Earth-Class, is the last of a cadre of robots tasked with cleaning up piles of trash discarded by humans who abandoned the planet centuries before.</p><p>The human race set off on a luxury space cruise during a planned five-year clean-up that lasts much longer and results in unfortunate changes in the human physique and psyche.</p><p>The arrival of a sleek girl robot named Eve, sent to Earth by the orbiting humans to look for plant life, sends Wall-E on an adventure that changes his own and humanity's destinies.</p><p>Critics heaped praise on the film.</p><p>According to Rotten Tomatoes, a Web site that collects reviews, an astonishing 96 percent of critics liked the film.</p><p>Michael Phillips of the Chicago Tribune said on TV's "Ebert &amp; Roeper" that it was perhaps "the best American studio picture of the year," but the Hollywood Reporter said "it might be too clever to connect with mainstream audiences." Disney's Zoradi said "WALL-E" was not a conventional cartoon, but the studio was "confident from the get-go" that it would work.</p><p>He declined to reveal the film's budget, in line with Disney's policy.</p><p>"WALL-E" also opened at No. 1 in six small foreign markets, led by Brazil with $1.6 million, Zoradi said.</p><p>It will reach Russia and Mexico next weekend, followed by the U.K. in mid-July, timed with the school holidays in each market.</p><p>"Wanted," a $74 million comic book adaptation directed by Kazakhstan-born filmmaker Timur Bekmambetov, stars Scottish actor James McAvoy ("The Last King of Scotland") as an office drone recruited to an elite order of assassins by Jolie and Morgan Freeman.</p><p>Critics were also enthused.</p><p>______________________________</p><p><em>An earlier version of this story had outdated box office information.</em></p></div>

Animation giant Pixar scored its ninth consecutive No. 1 Sunday with its robot love story "WALL-E," while Angelina Jolie achieved a personal best with her violent assassination thriller "Wanted." "WALL-E," bolstered by near-unanimous critical praise, sold an estimated $62.5 million of tickets in its first three days, said Pixar's Walt Disney Co parent.It tied with 2001's "Monsters, Inc." to become Pixar's third-best opener.Pixar has gone to No. 1 with all nine of its movies, an unprecedented run that begin in 1995 with "Toy Story." The company record of $70.5 million was set in 2004 by "The Incredibles." Industry pundits had forecast an opening for "WALL-E" in the $50 million to $60 million range."Anything north of 60 (million dollars), we were going to be ecstatic," said Mark Zoradi, president of Walt Disney Studios Motion Picture Group .Meanwhile Jolie, whose career has been overshadowed in recent years by breathless tabloid coverage of her personal life, kicked off at No. 2 with "Wanted." The Universal Pictures release earned about $51.1 million, easily beating forecasts of an opening in the mid- to high-$30 million range.Her previous record for a live-action movie was 2005's "Mr. & Mrs. Smith," which opened to $50 million.The General Electric Co-owned studio said "Wanted" ranks as the third-highest opening for an R-rated action film, behind "The Matrix Reloaded ($91.7 million) and "300" ($70.9 million).SALES SOAR "WALL-E" and "Wanted," clearly aimed at disparate audiences, helped pushed overall sales to their highest level of the year, said tracking firm Media By Numbers.The top 12 films grossed $179 million, up 29 percent from last weekend, and up 20 percent from the year-ago period, when Pixar's "Ratatouille" opened at No. 1 with $47 million on its way to $206 million.Last weekend's champion, the Warner Bros spy comedy "Get Smart," slipped to No. 3 with $20 million, taking its 10-day haul to $77.3 million.The film, which stars Steve Carell as the inept hero Maxwell Smart, should finish up with about $130 million, said the Time Warner Inc-owned studio .Rounding out the top five, Pixar rival DreamWorks Animation SKG Inc's "Kung Fu Panda" slipped one to No. 4 with $11.7 million, taking its total to $179.3 million.The film opened four weeks ago to $60.2 million.Marvel Entertainment Inc's "The Incredible Hulk" fell three to No. 5 with $9.2 million.The superhero adaptation has earned $115.5 million after three weeks, roughly on par with its unloved 2003 predecessor "The Hulk." "WALL-E," a space adventure mixing an unusual love story with somber messages about the future of Earth and humankind, was directed by Andrew Stanton, who won an Academy Award for Pixar's 2003 hit "Finding Nemo." The title character, or Waste Allocation Load Lifter Earth-Class, is the last of a cadre of robots tasked with cleaning up piles of trash discarded by humans who abandoned the planet centuries before.The human race set off on a luxury space cruise during a planned five-year clean-up that lasts much longer and results in unfortunate changes in the human physique and psyche.The arrival of a sleek girl robot named Eve, sent to Earth by the orbiting humans to look for plant life, sends Wall-E on an adventure that changes his own and humanity's destinies.Critics heaped praise on the film.According to Rotten Tomatoes, a Web site that collects reviews, an astonishing 96 percent of critics liked the film.Michael Phillips of the Chicago Tribune said on TV's "Ebert & Roeper" that it was perhaps "the best American studio picture of the year," but the Hollywood Reporter said "it might be too clever to connect with mainstream audiences." Disney's Zoradi said "WALL-E" was not a conventional cartoon, but the studio was "confident from the get-go" that it would work.He declined to reveal the film's budget, in line with Disney's policy."WALL-E" also opened at No. 1 in six small foreign markets, led by Brazil with $1.6 million, Zoradi said.It will reach Russia and Mexico next weekend, followed by the U.K. in mid-July, timed with the school holidays in each market."Wanted," a $74 million comic book adaptation directed by Kazakhstan-born filmmaker Timur Bekmambetov, stars Scottish actor James McAvoy ("The Last King of Scotland") as an office drone recruited to an elite order of assassins by Jolie and Morgan Freeman.Critics were also enthused.______________________________An earlier version of this story had outdated box office information.

2021-10-30 14:12:30.596219