China to execute driver who killed passenger of ride-hailing firm Didi Chuxing

A Chinese court on Friday sentenced a man to death for raping and killing a female passenger of ride-hailing company Didi Chuxing last year, while he was employed as a driver. The crime triggered fierce public and government criticism of Didi — whose backers include Uber Technologies, Apple and Japan’s SoftBank Group — and led to a safety overhaul at the company. The court in the eastern coastal city of Wenzhou announced the death penalty for 28-year-old Zhong Yuan, who committed the crime in Au


A Chinese court on Friday sentenced a man to death for raping and killing a female passenger of ride-hailing company Didi Chuxing last year, while he was employed as a driver. The crime triggered fierce public and government criticism of Didi — whose backers include Uber Technologies, Apple and Japan’s SoftBank Group — and led to a safety overhaul at the company. The court in the eastern coastal city of Wenzhou announced the death penalty for 28-year-old Zhong Yuan, who committed the crime in Au
China to execute driver who killed passenger of ride-hailing firm Didi Chuxing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, weibo, wenzhou, yuan, crime, passenger, firm, chuxing, killed, uber, driver, execute, ridehailing, didi, china, court, zhong, death, extremely


China to execute driver who killed passenger of ride-hailing firm Didi Chuxing

A Chinese court on Friday sentenced a man to death for raping and killing a female passenger of ride-hailing company Didi Chuxing last year, while he was employed as a driver.

The crime triggered fierce public and government criticism of Didi — whose backers include Uber Technologies, Apple and Japan’s SoftBank Group — and led to a safety overhaul at the company.

The court in the eastern coastal city of Wenzhou announced the death penalty for 28-year-old Zhong Yuan, who committed the crime in August, in a post on its Twitter-like Weibo account.

“The criminal means were extremely cruel and the consequences of the crime are extremely serious,” the court said.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, weibo, wenzhou, yuan, crime, passenger, firm, chuxing, killed, uber, driver, execute, ridehailing, didi, china, court, zhong, death, extremely


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Oil caught between trade talk hopes, weak China data

Oil prices held steady on Friday, torn between hopes the United States and China could soon settle their trade disputes and new data raising fresh concerns over China’s economic slowdown. International Brent crude oil futures were at $60.87 per barrel at 244, 3 cents above their last close. Oil futures received support from a broader financial market rally, which saw Asian shares hit four-month highs on Friday on hopes the United States and China could strike a trade deal. Much Venezuelan crude


Oil prices held steady on Friday, torn between hopes the United States and China could soon settle their trade disputes and new data raising fresh concerns over China’s economic slowdown. International Brent crude oil futures were at $60.87 per barrel at 244, 3 cents above their last close. Oil futures received support from a broader financial market rally, which saw Asian shares hit four-month highs on Friday on hopes the United States and China could strike a trade deal. Much Venezuelan crude
Oil caught between trade talk hopes, weak China data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: jean-paul pelissier
Keywords: news, cnbc, companies, soon, oil, bpd, trade, venezuelan, united, hopes, data, states, futures, talk, china, caught, trump, weak, supply


Oil caught between trade talk hopes, weak China data

Oil prices held steady on Friday, torn between hopes the United States and China could soon settle their trade disputes and new data raising fresh concerns over China’s economic slowdown.

International Brent crude oil futures were at $60.87 per barrel at 244, 3 cents above their last close.

U.S. West Texas Intermediate (WTI) futures were at $53.70 per barrel, down 9 cents, or 0.2 percent their last settlement.

Oil futures received support from a broader financial market rally, which saw Asian shares hit four-month highs on Friday on hopes the United States and China could strike a trade deal.

U.S. President Donald Trump said on Thursday he will meet with Chinese President Xi Jinping soon to try to seal a comprehensive trade deal as Trump and his top trade negotiator both cited substantial progress in two days of high-level talks.

Yet prices were weighed down by a survey on Friday that showed China’s factory activity shrank by the most in almost three years in January amid slumping orders, reinforcing fears a slowdown in the world’s second-largest economy is deepening.

Despite these concerns, traders said oil markets overall are being supported by supply cuts from the Organization of the Petroleum Exporting Countries (OPEC), which according to a Reuters poll pumped 30.98 million barrels per day (bpd) in January, down 890,000 bpd from December.

In Venezuela, meanwhile, U.S. sanctions imposed on state oil firm PDVSA this week are keeping tankers stuck at ports and are expected to accelerate the supply drop in February.

“The latest U.S. sanctions could directly halt around 500,000 barrels per day (bpd) of Venezuelan exports to the U.S.,” Citi bank said.

Much Venezuelan crude oil is rated as heavy and requires the light petroleum naphtha, much of it supplied from the United States, for dilution before export to refineries.

“An additional 350,000 bpd of Venezuelan oil output is at risk due to the lack of U.S. dilutents, a result of the U.S. product exports ban with immediate effect,” Citi said.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: jean-paul pelissier
Keywords: news, cnbc, companies, soon, oil, bpd, trade, venezuelan, united, hopes, data, states, futures, talk, china, caught, trump, weak, supply


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Chinese stocks jump amid trade optimism; manufacturing data disappoints

Stocks in China saw strong gains on the first trading day of February as hopes rise for a U.S.-China trade deal. Mainland Chinese markets saw gains on the day, as the Shanghai composite rose 1.3 percent to close at around 2,618.23 while the Shenzhen component jumped 2.738 percent to finish its trading day at about 7,684.00. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 48.3 in January, compared to 49.7 in December. “The terrible decline in the Caixin PMI index from


Stocks in China saw strong gains on the first trading day of February as hopes rise for a U.S.-China trade deal. Mainland Chinese markets saw gains on the day, as the Shanghai composite rose 1.3 percent to close at around 2,618.23 while the Shenzhen component jumped 2.738 percent to finish its trading day at about 7,684.00. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 48.3 in January, compared to 49.7 in December. “The terrible decline in the Caixin PMI index from
Chinese stocks jump amid trade optimism; manufacturing data disappoints Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: eustance huang
Keywords: news, cnbc, companies, trade, jump, amid, trading, higher, shenzhen, data, disappoints, chinese, index, pmi, deal, manufacturing, stocks, day, optimism, slightly


Chinese stocks jump amid trade optimism; manufacturing data disappoints

Stocks in China saw strong gains on the first trading day of February as hopes rise for a U.S.-China trade deal. However, the country’s manufacturing data came in below expectations.

Mainland Chinese markets saw gains on the day, as the Shanghai composite rose 1.3 percent to close at around 2,618.23 while the Shenzhen component jumped 2.738 percent to finish its trading day at about 7,684.00. The Shenzhen composite also climbed higher by 2.765 percent to close at approximately 1,309.99.

Hong Kong’s Hang Seng index slipped 0.23 percent, in the final hour of trade.

A private survey on China’s manufacturing sector on Friday showed that factory activity contracted in January. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 48.3 in January, compared to 49.7 in December. Analysts polled by Reuters had expected the Caixin PMI to be 49.5 last month.

“The terrible decline in the Caixin PMI index from 49.7 in December to only 48.3 in January shows just how important it is for China and the US to secure a trade deal. If nothing else, a deal should prevent the near-term imposition of higher tariffs,” Robert Carnell, ING’s chief economist and head of research for Asia Pacific, said in a note.

Elsewhere in Asia, the mood appeared more cautious.

Japan’s Nikkei 225 closed slightly higher at 20,788.39 while the Topix index shed 0.18 percent to finish its trading day at 1,564.63, as shares of Fast Retailing advanced 1.97 percent. Nintendo, however, plunged 9.19 percent after the company cut its sales forecast for the Switch game console in the fiscal year ending March 2019.

South Korea’s Kospi closed slightly lower at 2,203.46.

In Australia, the ASX 200 ended its trading day largely flat at 5,862.8. The materials subindex advanced 0.34 percent as shares of major miners rose. Rio Tinto was up 0.6 percent, Fortescue Metals Group jumped 3.36 percent and BHP Billiton gained 0.49 percent.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: eustance huang
Keywords: news, cnbc, companies, trade, jump, amid, trading, higher, shenzhen, data, disappoints, chinese, index, pmi, deal, manufacturing, stocks, day, optimism, slightly


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Deutsche Bank swings to first full-year net profit since 2014

Deutsche Bank posted its first full-year net profit since 2014 on Friday, despite a weak fourth quarter, amid growing merger speculation and a series of uphill struggles. The profit number of 341 million euros ($390 million) for 2018 failed to beat market consensus, with a Reuters poll of analysts predicting a figure of 461 million euros. For the fourth-quarter alone, the bank posted as loss of 409 million euros, which also failed to match estimates. “Our return to profitability shows that Deuts


Deutsche Bank posted its first full-year net profit since 2014 on Friday, despite a weak fourth quarter, amid growing merger speculation and a series of uphill struggles. The profit number of 341 million euros ($390 million) for 2018 failed to beat market consensus, with a Reuters poll of analysts predicting a figure of 461 million euros. For the fourth-quarter alone, the bank posted as loss of 409 million euros, which also failed to match estimates. “Our return to profitability shows that Deuts
Deutsche Bank swings to first full-year net profit since 2014 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: silvia amaro, simon dawson, bloomberg, getty images
Keywords: news, cnbc, companies, deutsche, profitability, poll, million, bank, quarter, euros, net, failed, posted, fullyear, 2018, profit, swings


Deutsche Bank swings to first full-year net profit since 2014

Deutsche Bank posted its first full-year net profit since 2014 on Friday, despite a weak fourth quarter, amid growing merger speculation and a series of uphill struggles.

The profit number of 341 million euros ($390 million) for 2018 failed to beat market consensus, with a Reuters poll of analysts predicting a figure of 461 million euros. For the fourth-quarter alone, the bank posted as loss of 409 million euros, which also failed to match estimates.

“Our return to profitability shows that Deutsche Bank is on the right track. Now, our priority is to take the next step. In 2019 we aim not only to save costs but also to make focused investments in growth. We aim to grow profitability substantially through the current year and beyond,” CEO Christian Sewing said in statement.

Net revenues came in at 25 billion euros for the year and 5.5 billion for the last quarter of 2018, which both narrowly missed estimates in a Reuters poll. Its common equity tier-1 ratio, which indicates a bank’s strength, dropped to 13.6 percent in 2018, versus 14 percent at the end of 2017.

The German lender has been under immense scrutiny by investors given its prolonged and ongoing troubles. It has been plagued by fines and several failed restructuring attempts. More recently, its headquarters were raided by prosecutors amid a money-laundering investigation.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: silvia amaro, simon dawson, bloomberg, getty images
Keywords: news, cnbc, companies, deutsche, profitability, poll, million, bank, quarter, euros, net, failed, posted, fullyear, 2018, profit, swings


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Trump denies in NYT interview that he talked to Roger Stone about WikiLeaks

U.S. President Donald Trump said he never spoke to his longtime advisor Roger Stone about WikiLeaks and stolen Democratic emails posted by the site, the New York Times reported on Thursday. Stone was arrested last week on multiple charges that included lying to Congress about his communications with Trump campaign officials regarding hacked emails that were published on WikiLeaks during the 2016 presidential election. The arrest was a major development in special counsel Robert Mueller’s ongoing


U.S. President Donald Trump said he never spoke to his longtime advisor Roger Stone about WikiLeaks and stolen Democratic emails posted by the site, the New York Times reported on Thursday. Stone was arrested last week on multiple charges that included lying to Congress about his communications with Trump campaign officials regarding hacked emails that were published on WikiLeaks during the 2016 presidential election. The arrest was a major development in special counsel Robert Mueller’s ongoing
Trump denies in NYT interview that he talked to Roger Stone about WikiLeaks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: nyshka chandran, jim young
Keywords: news, cnbc, companies, stone, charges, denies, times, wikileaks, york, emails, talked, week, spoke, trump, roger, nyt, interview, president


Trump denies in NYT interview that he talked to Roger Stone about WikiLeaks

U.S. President Donald Trump said he never spoke to his longtime advisor Roger Stone about WikiLeaks and stolen Democratic emails posted by the site, the New York Times reported on Thursday.

Stone was arrested last week on multiple charges that included lying to Congress about his communications with Trump campaign officials regarding hacked emails that were published on WikiLeaks during the 2016 presidential election. Stone has pleaded not guilty to those charges. The arrest was a major development in special counsel Robert Mueller’s ongoing investigation of Russian meddling in that election.

When asked by the Times if he ever spoke to Stone about WikiLeaks, the president answered: “No, I didn’t. I never did.” He also denied directing anyone to talk to Stone about WikiLeaks.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: nyshka chandran, jim young
Keywords: news, cnbc, companies, stone, charges, denies, times, wikileaks, york, emails, talked, week, spoke, trump, roger, nyt, interview, president


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India budget 2019: what it means for farmers, elections, Modi, economy

Prime Minister Narendra Modi’s ruling alliance is facing discontent over depressed farm incomes and doubts over whether his policies are creating enough jobs. Goyal was standing in for Finance Minister Arun Jaitley, who was undergoing medical treatment in the United States. The deficit was widely expected to be higher than targeted due to a combination of revenue shortfalls and increased spending ahead of the election. A report in the Business Standard daily the previous day belied the governmen


Prime Minister Narendra Modi’s ruling alliance is facing discontent over depressed farm incomes and doubts over whether his policies are creating enough jobs. Goyal was standing in for Finance Minister Arun Jaitley, who was undergoing medical treatment in the United States. The deficit was widely expected to be higher than targeted due to a combination of revenue shortfalls and increased spending ahead of the election. A report in the Business Standard daily the previous day belied the governmen
India budget 2019: what it means for farmers, elections, Modi, economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: narinder nanu, afp, getty images
Keywords: news, cnbc, companies, deficit, roads, farmers, ruling, modi, 2019, minister, rural, revenue, india, economy, targeted, budget, showed, spending, means, elections


India budget 2019: what it means for farmers, elections, Modi, economy

India’s Hindu nationalist-led government poured extra money into support for farmers and a rural jobs program, delivering on Friday its last budget before a general election due by May with the clear aim of winning over votes.

Prime Minister Narendra Modi’s ruling alliance is facing discontent over depressed farm incomes and doubts over whether his policies are creating enough jobs.

The interim budget for 2019/20 allocated 600 billion rupees for a rural jobs program and 190 billion for building of roads in the countryside where two-thirds of Indians live.

The fiscal deficit in 2018/19 would be 3.4 percent of gross domestic product (GDP), slightly higher than the targeted 3.3 percent, acting finance minister Piyush Goyal told the lower house of parliament.

Goyal was standing in for Finance Minister Arun Jaitley, who was undergoing medical treatment in the United States.

The deficit was widely expected to be higher than targeted due to a combination of revenue shortfalls and increased spending ahead of the election. The benchmark 10-year bond yield fell 3 basis points to 7.46 percent once the new fiscal deficit estimate was revealed as investors showed relief that it wasn’t worse.

“India is solidly back on track and marching towards growth and prosperity,” Goyal said as Modi and lawmakers from the ruling Bharatiya Janata Party thumped their desks in appreciation.

A report in the Business Standard daily the previous day belied the government bullishness over the economy.

It reported that the government has been withholding an official survey that showed India’s unemployment rate at its highest in decades.

The budget, which is interim and is likely to be followed by a full one in July, is expected to project economic growth of around 7.5 percent for the next financial year, while expanding capital spending on railways, roads, ports by 7-8 percent, and estimating an increase in revenue of about 15 percent, officials said.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: narinder nanu, afp, getty images
Keywords: news, cnbc, companies, deficit, roads, farmers, ruling, modi, 2019, minister, rural, revenue, india, economy, targeted, budget, showed, spending, means, elections


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Aussie dollar slides on dismal China data; yen steadies

The Australian dollar fell versus the greenback on Friday after a private survey showed factory activity in China shrank by the most in almost three years in January. The Australian dollar, often considered a barometer for global risk appetite, fell 0.4 percent to $0.7246. The yen was steady at 108.8 against the dollar after hitting a two-week high in the previous session. The dollar is widely expected to weaken this year as the Federal Reserve turns more cautious about further rate increases. A


The Australian dollar fell versus the greenback on Friday after a private survey showed factory activity in China shrank by the most in almost three years in January. The Australian dollar, often considered a barometer for global risk appetite, fell 0.4 percent to $0.7246. The yen was steady at 108.8 against the dollar after hitting a two-week high in the previous session. The dollar is widely expected to weaken this year as the Federal Reserve turns more cautious about further rate increases. A
Aussie dollar slides on dismal China data; yen steadies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, trade, yen, versus, data, aussie, risk, deal, remain, expected, dollar, steadies, china, sentiment, dismal, slides, steady, president


Aussie dollar slides on dismal China data; yen steadies

The Australian dollar fell versus the greenback on Friday after a private survey showed factory activity in China shrank by the most in almost three years in January.

The Australian dollar, often considered a barometer for global risk appetite, fell 0.4 percent to $0.7246. The kiwi was at $0.6907, down 0.2 percent versus the greenback.

China’s gloomy factory readings have brought global growth worries to the fore again, which is likely to benefit safe-haven currencies such as the Japanese yen.

“Dollar/yen is expected to remain weak given a dovish Federal Reserve but we can expect a bigger move down if there is a return of risk-off sentiment,” said Sim Moh Siong, currency strategist at Bank of Singapore.

The yen was steady at 108.8 against the dollar after hitting a two-week high in the previous session.

However, broader risk sentiment still remained fairly strong after U.S. President Donald Trump said on Thursday he would meet with Chinese President Xi Jinping soon to try and seal a comprehensive trade deal as the top U.S. negotiator reported “substantial progress” in two days of high-level talks.

The dollar index, a gauge of its value versus six major peers, was steady at 95.60. The index is set to end the week in the red, after losing 0.6 percent of its value last week.

The dollar is widely expected to weaken this year as the Federal Reserve turns more cautious about further rate increases.

On Wednesday, the U.S. central bank held interest rates steady as expected but discarded pledges of “further gradual increases” in interest rates, and said it would be “patient” before making any further moves.

Trade talks between the United States and China could also have an impact on the dollar, which has acted as a safe-haven in times of uncertainty.

President Trump said he wanted a “very big” trade deal with China, but he signaled there could be delays if talks fail to meet his goals of opening the Chinese economy broadly to U.S. industry and agriculture.

Analysts say a comprehensive trade deal between the world’s two largest economies would most likely boost risk sentiment and lead to a weaker dollar.

Markets are now focusing on U.S. jobs data later on Friday. Analysts note that any weakness in the labor market and a fall in wage inflation would only reinforce the dovish outlook for the dollar this year.

The euro was flat at $1.1446 after having fallen 0.3 percent in the last session. The single currency has not managed to gain despite broader dollar weakness as growth and inflation in the euro zone remain weaker than expected.

Indeed, Jens Weidmann, the Bundesbank president and a member of the European Central Bank Governing Council, painted a bleak picture of the German economy on Thursday, saying the slump in Europe’s largest economy will last longer than initially thought.

Sterling, which is grappling with troubles of its own on uncertainty over a deal to avoid a chaotic British exit from the European Union, was flat at $1.3109. Analysts expect the British pound to remain volatile in the coming weeks.

— CNBC contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, trade, yen, versus, data, aussie, risk, deal, remain, expected, dollar, steadies, china, sentiment, dismal, slides, steady, president


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Cambodia is the cheapest place to retire aboard. Here are the other 4

“Once you have a clear picture of what you’re really looking for, then it’s easier to pinpoint the spots that might make the most sense for you — and eliminate the ones that don’t.” However, grabbing the passport and heading abroad to spend retirement years overseas may not be the right move for everyone. Stevens suggests having a clear idea of your priorities when considering a move, such as cultural offerings, cost of living, weather or proximity to home. “Once you have a clear picture of what


“Once you have a clear picture of what you’re really looking for, then it’s easier to pinpoint the spots that might make the most sense for you — and eliminate the ones that don’t.” However, grabbing the passport and heading abroad to spend retirement years overseas may not be the right move for everyone. Stevens suggests having a clear idea of your priorities when considering a move, such as cultural offerings, cost of living, weather or proximity to home. “Once you have a clear picture of what
Cambodia is the cheapest place to retire aboard. Here are the other 4 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: michelle fox, ashit desai, moment, getty images, vu long, eyeem, marco bottigelli, west, peter langer, -jennifer stevens
Keywords: news, cnbc, companies, picture, youre, cheapest, clear, pinpoint, really, cambodia, place, living, sense, aboard, ones, retirement, retire, spots


Cambodia is the cheapest place to retire aboard. Here are the other 4

“Once you have a clear picture of what you’re really looking for, then it’s easier to pinpoint the spots that might make the most sense for you — and eliminate the ones that don’t.”

However, grabbing the passport and heading abroad to spend retirement years overseas may not be the right move for everyone. There are several things to consider, such as the health-care system in the country you’re bound for and how an international relocation will affect your taxes.

Stevens suggests having a clear idea of your priorities when considering a move, such as cultural offerings, cost of living, weather or proximity to home.

“Once you have a clear picture of what you’re really looking for, then it’s easier to pinpoint the spots that might make the most sense for you — and eliminate the ones that don’t,” she said.

Then, visit for a while to take it for test run, she added.

If you have the travel bug — but don’t want to move full-time — you can always take a month or more a year to enjoy some of the advantages of living in a foreign country.

With that in mind, here are the five cheapest locations to consider spending your retirement in 2019, according to International Living.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: michelle fox, ashit desai, moment, getty images, vu long, eyeem, marco bottigelli, west, peter langer, -jennifer stevens
Keywords: news, cnbc, companies, picture, youre, cheapest, clear, pinpoint, really, cambodia, place, living, sense, aboard, ones, retirement, retire, spots


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Worries about Chinese consumers spending less are ‘overblown,’ analysts say

Chinese consumer spending is in better shape than indicated by retail sales data, analysts say, in what could be a positive sign amid a disconcerting slowdown in the world’s second-largest economy. Retail sales growth may have faltered in 2018, but experts say that’s only one piece of the puzzle in an increasingly complex consumer landscape. China’s retail sales figures are part of an eagerly-awaited set of monthly data that includes readings on industrial production and fixed asset investment.


Chinese consumer spending is in better shape than indicated by retail sales data, analysts say, in what could be a positive sign amid a disconcerting slowdown in the world’s second-largest economy. Retail sales growth may have faltered in 2018, but experts say that’s only one piece of the puzzle in an increasingly complex consumer landscape. China’s retail sales figures are part of an eagerly-awaited set of monthly data that includes readings on industrial production and fixed asset investment.
Worries about Chinese consumers spending less are ‘overblown,’ analysts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: kelly olsen, wang zhao, afp, getty images, -tianjie he, senior economist at oxford economics
Keywords: news, cnbc, companies, worries, overblown, includes, growth, consumers, say, retail, data, worlds, wood, chinese, consumer, analysts, spending, 2018, sales


Worries about Chinese consumers spending less are 'overblown,' analysts say

Chinese consumer spending is in better shape than indicated by retail sales data, analysts say, in what could be a positive sign amid a disconcerting slowdown in the world’s second-largest economy.

Retail sales growth may have faltered in 2018, but experts say that’s only one piece of the puzzle in an increasingly complex consumer landscape.

China’s retail sales figures are part of an eagerly-awaited set of monthly data that includes readings on industrial production and fixed asset investment.

In 2018, retail sales growth slowed to 6.9 percent after adjustment for inflation, hit hard by weak auto sales. That compared with an increase of about 9 percent the year before.

The problem is that investors pay too much attention to that metric, said Christopher Wood, equity strategist at financial firm CLSA, who added that that measure includes purchases of goods but hardly any services.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: kelly olsen, wang zhao, afp, getty images, -tianjie he, senior economist at oxford economics
Keywords: news, cnbc, companies, worries, overblown, includes, growth, consumers, say, retail, data, worlds, wood, chinese, consumer, analysts, spending, 2018, sales


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European markets open slightly higher amid earnings, data

The downbeat data exacerbated fears of an economic slowdown and dented optimism over a possible U.S.-China trade deal. President Donald Trump also said he would soon meet with Chinese premier Xi Jinping to try to reach a comprehensive trade deal. On the data front, Italy, France, Germany and the U.K. are all expected to publish a final reading of manufacturing PMI data for January during morning deals. The euro area is set to release a flash reading of annualized inflation rate data for January


The downbeat data exacerbated fears of an economic slowdown and dented optimism over a possible U.S.-China trade deal. President Donald Trump also said he would soon meet with Chinese premier Xi Jinping to try to reach a comprehensive trade deal. On the data front, Italy, France, Germany and the U.K. are all expected to publish a final reading of manufacturing PMI data for January during morning deals. The euro area is set to release a flash reading of annualized inflation rate data for January
European markets open slightly higher amid earnings, data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: sam meredith
Keywords: news, cnbc, companies, soon, xi, trade, european, amid, final, higher, white, data, markets, market, bank, chinese, reading, earnings, open, slightly


European markets open slightly higher amid earnings, data

Market focus is largely attuned to global trade developments, after a survey on Chinese factory activity fell to its lowest level since February 2016.

The downbeat data exacerbated fears of an economic slowdown and dented optimism over a possible U.S.-China trade deal.

China’s trade delegation reportedly said Washington and Beijing had made “important progress” after two days of trade negotiations.

President Donald Trump also said he would soon meet with Chinese premier Xi Jinping to try to reach a comprehensive trade deal. Stocks had taken heart from the possibility of top-level trade talks over the coming weeks, but the upbeat mood soon cooled when the White House insisted it sees March 1 as a hard deadline for a deal.

In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, edged 0.2 percent lower on Friday.

Back in Europe, investors are likely to closely monitor another batch of quarterly earnings results on Friday.

Despite a weak final three months of 2018, Deutsche Bank reported its first full-year net profit in four years on Friday. The latest figures from Germany’s largest bank come as it faces growing merger speculation and a series of uphill struggles.

On the data front, Italy, France, Germany and the U.K. are all expected to publish a final reading of manufacturing PMI data for January during morning deals. The euro area is set to release a flash reading of annualized inflation rate data for January at 10:00 a.m. London time.

Later in the session, market participants will pay special attention to U.S. jobs data. Analysts are unsure what to expect, in the wake of the recent government shutdown.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: sam meredith
Keywords: news, cnbc, companies, soon, xi, trade, european, amid, final, higher, white, data, markets, market, bank, chinese, reading, earnings, open, slightly


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