Mexican president hints at migration concessions to avoid Trump tariffs

Mexican President Andrés Manuel López Obrador speaks during his morning press conference at the National Palace in Mexico City, on May 31, 2019. Mexico’s president on Saturday hinted his country could tighten migration controls to defuse U.S. President Donald Trump’s threat to impose tariffs on Mexican goods, and said he expected “good results” from talks planned in Washington next week. Mexico’s economy relies heavily on exports to the United States and shrank in the first quarter. Under Trump’


Mexican President Andrés Manuel López Obrador speaks during his morning press conference at the National Palace in Mexico City, on May 31, 2019. Mexico’s president on Saturday hinted his country could tighten migration controls to defuse U.S. President Donald Trump’s threat to impose tariffs on Mexican goods, and said he expected “good results” from talks planned in Washington next week. Mexico’s economy relies heavily on exports to the United States and shrank in the first quarter. Under Trump’
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Company: cnbc, Activity: cnbc, Date: 2019-06-01
Keywords: news, cnbc, companies, trump, concessions, united, states, plan, lopez, mexico, tariffs, hints, obrador, president, avoid, mexican, migration


Mexican president hints at migration concessions to avoid Trump tariffs

Mexican President Andrés Manuel López Obrador speaks during his morning press conference at the National Palace in Mexico City, on May 31, 2019.

Mexico’s president on Saturday hinted his country could tighten migration controls to defuse U.S. President Donald Trump’s threat to impose tariffs on Mexican goods, and said he expected “good results” from talks planned in Washington next week.

Trump said on Thursday he will apply the tariffs on June 10 if Mexico does not halt the flow of illegal immigration, largely from Central America, across the U.S.-Mexican border.

His ultimatum hit Mexican financial assets and global stocks, but met resistance from U.S. business leaders and lawmakers worried about the impact of targeting Mexico, one of the United States’ top trade partners.

In a news conference in the Gulf of Mexico port of Veracruz, President Andres Manuel Lopez Obrador said Mexico could be ready to step up measures to contain migration in order to reach a deal with the United States.

A Mexican delegation led by Foreign Minister Marcelo Ebrard will discuss the dispute with U.S. officials in Washington on Wednesday, and Lopez Obrador said he expected “good results” from the talks, and for a deal to emerge.

“The main thing is to inform about what we’re already doing on the migration issue, and if it’s necessary to reinforce these measures without violating human rights, we could be prepared to reach that deal,” Lopez Obrador said.

Trump’s threat to inflict pain on Mexico’s economy is the biggest foreign policy test to date for Lopez Obrador and a tall order for Mexican authorities struggling not only to contain migration but also to fight record gang violence.

Mexico’s economy relies heavily on exports to the United States and shrank in the first quarter. Under Trump’s plan, U.S. tariffs that could rise as high as 25% this year.

Lopez Obrador said Mexico would not engage in any trade wars with the United States, but noted that his government had a “plan” in case Trump did apply the tariffs to ensure the country was not impoverished. He did not provide details of the plan.


Company: cnbc, Activity: cnbc, Date: 2019-06-01
Keywords: news, cnbc, companies, trump, concessions, united, states, plan, lopez, mexico, tariffs, hints, obrador, president, avoid, mexican, migration


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Acting US Defense Secretary calls on Asian allies to boost arms spending

Speaking Saturday at the Shangri-La Dialogue in Singapore, Shanahan highlighted an exhaustive list of U.S. contributions to the region before asking allies to commit to more. Figures provided by the London-based think tank International Institute for Strategic Studies, put China’s 2019 defense spending at $176 billion. So, there is not one size fits all but everybody has a responsibility to invest in security,” he added. When asked about the reaction from partners in the region to a potential sp


Speaking Saturday at the Shangri-La Dialogue in Singapore, Shanahan highlighted an exhaustive list of U.S. contributions to the region before asking allies to commit to more. Figures provided by the London-based think tank International Institute for Strategic Studies, put China’s 2019 defense spending at $176 billion. So, there is not one size fits all but everybody has a responsibility to invest in security,” he added. When asked about the reaction from partners in the region to a potential sp
Acting US Defense Secretary calls on Asian allies to boost arms spending Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: amanda macias
Keywords: news, cnbc, companies, size, invest, thats, conversations, defense, arms, allies, singapore, asian, acting, secretary, shanahan, think, spending, boost, calls


Acting US Defense Secretary calls on Asian allies to boost arms spending

Acting U.S. Secretary of Defense Patrick Shanahan speaking at the IISS Shangri-La Dialogue summit in Singapore on June 1, 2019

SINGAPORE — Acting Secretary of Defense Patrick Shanahan called on America’s allies in Asia Pacific to invest more in national security — a move that’s reminiscent of U.S. President Donald Trump’s well-worn script to NATO nations on burden-sharing.

Speaking Saturday at the Shangri-La Dialogue in Singapore, Shanahan highlighted an exhaustive list of U.S. contributions to the region before asking allies to commit to more.

“Our government is devoting significant resources to this mission. This is a massive effort,” Shanahan said during his remarks. “Every nation, independent of size, has an important role to play. And like the business of building airplanes, no one nation can go it alone,” the former Boeing executive added.

Figures provided by the London-based think tank International Institute for Strategic Studies, put China’s 2019 defense spending at $176 billion. That’s more than the combined budgets of South Korea, Japan, Australia, Singapore, Indonesia, Thailand, Vietnam, Malaysia and the Philippines.

“People have to invest in themselves. I mean, we are making a sizable investment,” Shanahan told a small group of reporters on Friday. “Now, different countries can do more, and some just don’t have the means and the resources at the time. So, there is not one size fits all but everybody has a responsibility to invest in security,” he added.

When asked about the reaction from partners in the region to a potential spending increase, Shanahan said he expects allies to work with the United States.

“When we are having these conversations it’ll be about asking what’s appropriate for us to help with and what can they do and I think those are natural conversations,” Shanahan said. “I have not found the conversations awkward in the least.”


Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: amanda macias
Keywords: news, cnbc, companies, size, invest, thats, conversations, defense, arms, allies, singapore, asian, acting, secretary, shanahan, think, spending, boost, calls


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Apple is having its big annual event where it lays out plans for the coming year — here’s what to expect

Apple CEO Tim Cook delivers the keynote address during Apple WWDC on June 8, 2015 in San Francisco, California. The company has launched a new version of its iPhone software at WWDC every year since 2009, and analysts and reports don’t expect this year to be any different. At WWDC in 2016, Apple CEO Tim Cook framed Apple as a company with four main platforms: iOS, watchOS, macOS, and tvOS. It will also be a good place to look for clues whether the Mac platform might become secondary to iOS going


Apple CEO Tim Cook delivers the keynote address during Apple WWDC on June 8, 2015 in San Francisco, California. The company has launched a new version of its iPhone software at WWDC every year since 2009, and analysts and reports don’t expect this year to be any different. At WWDC in 2016, Apple CEO Tim Cook framed Apple as a company with four main platforms: iOS, watchOS, macOS, and tvOS. It will also be a good place to look for clues whether the Mac platform might become secondary to iOS going
Apple is having its big annual event where it lays out plans for the coming year — here’s what to expect Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: kif leswing
Keywords: news, cnbc, companies, coming, big, mac, apples, having, event, apps, software, expect, plans, annual, platform, developers, wwdc, lays, apple, ios, iphone, heres


Apple is having its big annual event where it lays out plans for the coming year — here's what to expect

Apple CEO Tim Cook delivers the keynote address during Apple WWDC on June 8, 2015 in San Francisco, California. Getty Images

Apple is expected to launch the latest version of iOS, its software for the iPhone and iPad, on Monday at its annual Worldwide Developers Conference, or WWDC. The company has launched a new version of its iPhone software at WWDC every year since 2009, and analysts and reports don’t expect this year to be any different. The announcement of the new software, likely called iOS 13, will show how Apple is evolving its most important product, the iPhone, in the face of a contracting smartphone market. The company’s Worldwide Developers Conference, or WWDC, also is an opportunity for Apple to highlight its growing services business, which revolves around selling online subscriptions to iPhone users, including an announced video service this called Apple TV+. The next version of iOS will have to support this service. “This year WWDC will have a different feel as Apple needs to prove with its next iOS, currently codenamed Yukon, that this platform has the speed, scalability, and feature functionality to smoothly support and lay the groundwork for the company’s flagship video streaming service slated for the fall,” Wedbush analyst Dan Ives wrote in a note on Friday. WWDC kicks off on Monday in San Jose, California. The company’s new product announcements will be revealed in a livestreamed keynote address starting at 1 p.m. Eastern Time.

One platform to rule them all?

WWDC is Apple’s main event to communicate how it sees its various software platforms developing. At WWDC in 2016, Apple CEO Tim Cook framed Apple as a company with four main platforms: iOS, watchOS, macOS, and tvOS. “This is a huge moment for us – four great platforms that become even more capable with working with all of you,” Cook said in 2016. But in 2019, Apple doesn’t seem to have a four-legged stool anymore. Apple is increasingly emphasizing its ability to sell add-on software and subscription services to iPhone owners as smartphone sales shrink. With that business goal front an center, Apple’s iPhone is being positioned the center of Apple’s software development universe, and its iOS App Store distribution platform as one of the company’s crown jewels. For example, Apple’s TV strategy has moved away from a becoming its own separate platform for apps. Instead, Apple’s main video product is itself an app that aggregates paid video feeds from outside providers — which are “channels,” not apps. The Apple TV app is increasingly available on television sets from competitors like Samsung, and Apple said in the spring that its streaming service, Apple TV+, will go on sale this fall. It will also be a good place to look for clues whether the Mac platform might become secondary to iOS going forward. Last year, the company previewed a new set of developer tools that would enable iPhone apps to run on Mac computers with minimal effort. Apple uses the technology for some of its own apps that have jumped from the iPhone to the Mac, such as News or Memos. Developers are worried that if the two platforms become more closely linked, that software will be primarily developed for iPhone and then ported to Mac, potentially robbing the desktop version of power-user features. “Are you merging iOS and MacOS? No,” read a bold-faced slide at last year’s WWDC. Developers will be watching closely to see if that’s still true. The one platform that might be gaining in stature is watchOS, which runs on the Apple Watch. According to a report from Bloomberg, Apple may introduce a new app store for Apple Watch, providing a new way to for developers to make money from watch apps.

iOS 13

iOS 13 will reportedly have a slew of new features for users, including a dark mode, improved one-handed keyboard, and improvements to apps like Mail, Health, and iMessage, according to reports from Bloomberg and 9to5Mac. If past years are any guide, the new software will be available for beta-testers later this summer, and will launch for everyone alongside new iPhones in the fall. Many of the reported system-wide improvements are subtle, including improved performance and a new feature in Screen Time. Apple is expected to redesign the “share sheet” that enables people to send photos and information from inside of apps. iPads are expected to get particular attention, including a new feature that lets Mac users use the iPad as a second monitor, and a better multi-tasking tinerface. Apple’s own apps are expected to get a lot of attention this year. The Health, Reminders, Books, and Find My Friends apps are all expected to get a redesign, according to Bloomberg.

No new iPhones, but maybe a new Mac

Don’t expect a lot of new hardware at WWDC. No new hardware was released at WWDC last year, but 2017’s conference included the introduction of the HomePod smart speaker and the iMac Pro desktop. “History suggests investor disappointment will follow the event given the likely absence of any material hardware product announcements,” Loup Ventures cofounder and longtime Apple analyst Gene Munster wrote on Friday. “This reaction misses the point of WWDC: give developers the tools to build world-class software and services.” There is chance that Apple discusses a high-end Mac desktop computer, which would fit in with the conference’s programming focus. In 2017, Apple said it would release a high-end professional-oriented Mac computer, but didn’t specify a time frame.

Antitrust complaints


Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: kif leswing
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Meet the billionaires of the new cloud boom

Source: DropboxNot long ago, Salesforce was the cloud software market and Marc Benioff its billionaire evangelist. At least eight founders of cloud software companies have joined the billionaire ranks amid the recent cloud boom. Blue | Bloomberg | Getty ImagesA Chinese programmer who emigrated to Silicon Valley during the dot-com boom, Yuan took his videoconferencing company public last month and was showered with love from Wall Street. Lütke controls almost 8 million shares worth close to $2.2


Source: DropboxNot long ago, Salesforce was the cloud software market and Marc Benioff its billionaire evangelist. At least eight founders of cloud software companies have joined the billionaire ranks amid the recent cloud boom. Blue | Bloomberg | Getty ImagesA Chinese programmer who emigrated to Silicon Valley during the dot-com boom, Yuan took his videoconferencing company public last month and was showered with love from Wall Street. Lütke controls almost 8 million shares worth close to $2.2
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Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: jordan novet
Keywords: news, cnbc, companies, worth, public, company, meet, billionaires, shares, million, billion, zoom, companies, cloud, boom, software


Meet the billionaires of the new cloud boom

Drew Houston and Arash Ferdowsi at the Nasdaq market site during the Dropbox IPO, March 23, 2018. Source: Dropbox

Not long ago, Salesforce was the cloud software market and Marc Benioff its billionaire evangelist. But in the last few years, scores of tech companies that make their money selling subscription services have grown quickly, gone public and made their founders exceptionally rich. The biggest successes have even turned their creators into billionaires to the point that, while Benioff occupies the tallest building, his wealth no longer towers over that of several peers. At least eight founders of cloud software companies have joined the billionaire ranks amid the recent cloud boom. Their ascent highlights investors’ continuing thirst for the popular business models of land and expand and recurring revenue, where software salespeople get small teams hooked on their products and then watch them spread more broadly throughout the organization, leading to bigger monthly payments. When Salesforce was getting started two decades ago, the cloud offered a new way to work. Now, it’s the way we work. Microsoft has become the world’s most valuable public company by taking its old packaged and desktop software products and putting them in the cloud, while at the same time taking on Amazon, the second most valuable company, in providing cloud infrastructure so other companies can offload their critical infrastructure. From collaboration and communication tools to security and software for the medical industry, a whole new generation of companies are taking over the enterprise. And while founders of popular consumer technology companies like Pinterest and Uber also now rank among tech’s nouveau riche, it’s the business software world that’s seeing a steady stream of newly-minted billionaires, a trend that appears poised to continue. Here are some of the biggest winners in the cloud craze:

Scott Farquhar and Mike Cannon-Brookes, Atlassian

Atlassian Co-executives Mike Cannon-Brookes and Scott Farquhar at their Sydney office in 2006. Fairfax Media | Fairfax Media | Getty Images

The co-CEOs of Atlassian each own about 63 million shares of the company, which sells software for collaboration, project tracking and code storage. Their holdings were worth almost $8 billion each at market close on Friday, topping Benioff’s net worth of about $6.6 billion. Farquhar and Cannon-Brookes were recently crowned by the New York Times as Australia’s first tech billionaires. The pair first met at the University of New South Wales in 1998, started Atlassian in 2002 and took it public in the U.S. in 2015. Along the way, they opened a large office in San Francisco, home to several top executives. Last year, Atlassian put aside its rivalry with Slack, selling its HipChat service in exchange for a small stake in the business chat company. In the most recent quarter, Atlassian’s revenue rose 38% from the prior year. The stock is up 41% in 2019, giving the company a market value of over $30 billion. Farquhar has said that he and Cannon-Brookes want to provide education for 10 million children over the next decade, focusing on the developing world.

Eric Yuan, Zoom

Eric Yuan, founder and chief executive officer of Zoom Video Communications, at right, speaks with Jay Heller, head of capital markets & initial public offering execution of Nasdaq, during the company’s IPO at the Nasdaq MarketSite in New York on April 18, 2019. Victor J. Blue | Bloomberg | Getty Images

A Chinese programmer who emigrated to Silicon Valley during the dot-com boom, Yuan took his videoconferencing company public last month and was showered with love from Wall Street. The stock has more than doubled from its IPO price, valuing the company — which is profitable — at over $20 billion. Yuan holds close to 47 million shares in Zoom for a stake worth over $3.7 billion. Zoom has a freemium business model that’s proven to be a major success. In the year that ended Jan. 31, more than half of the 344 customers that delivered over $100,000 in revenue originally signed on with a free product before subscribing, according to Zoom’s IPO prospectus. Before starting Zoom in 2011, Yuan helped build the WebEx video conferencing technology and then joined Cisco through an acquisition. Now Zoom competes with WebEx, and Yuan is more likely to meet with customers over Zoom than in person.

Tobi Lütke, Shopify

Tobias Lütke, CEO of Shopify, speaks at the Collision conference in Toronto, Canada, on May 22, 2019. David Fitzgerald | Sportsfile | Getty Images

The CEO of Shopify runs the e-commerce company far away from Silicon Valley, in the Canadian capital city of Ottawa. In 2004, Lütke’s task was to write code to sell snowboards online. The store, Snowdevil, opened for business, but Lütke and the team figured it would be a better idea to use what they learned to help the rest of the retail world sell their stuff online. Shopify went public in 2015. Shares have since climbed more than 1,500%. In the most recent quarter Shopify’s revenue nearly doubled, and the company says its software is now used by 800,000 businesses in about 175 countries. Lütke controls almost 8 million shares worth close to $2.2 billion. In November, someone on Twitter predicted that Amazon would acquire Shopify in 2019. In response Lütke wrote that he would prefer to buy Amazon in 2029.

Drew Houston, Dropbox

Drew Houston, chief executive officer and co-founder of Dropbox Inc., speaks during a Bloomberg Technology Television interview in San Francisco on Aug. 14, 2018. David Paul Morris | Bloomberg | Getty Images

It’s little surprise to see the CEO and co-founder of Dropbox on this list. Houston was famously inspired to develop a service for storing files online after realizing he left a USB stick with critical information on it at home. Dropbox has racked up half a billion registered users of its cloud syncing and sharing service, and it’s become popular with both consumers and business users. Founded in 2007, Dropbox experienced such a rapid growth spurt in its early years that by 2011 venture investors were already valuing the company at $4 billion. That number hit $10 billion three years later. But the company has had to grow into that valuation and is still struggling to get there. Since going public in March 2018, the stock has hardly budged, leaving Dropbox with a market cap of $9.3 billion at Friday’s close. Houston’s 94 million shares are worth $2.1 billion. “We’re a little biased, but we think we have one of the most talented teams ever assembled, and we grow stronger every year,” he and co-founder Arash Ferdowsi wrote in a letter published just before shares started trading. Ferdowsi didn’t quite make the list — his stake is currently worth less than $850 million.

Peter Gassner, Veeva

Veeva founder and CEO Peter Gassner outside the NYSE Ben Hider | NYSE Euronext

Gassner, who co-founded Veeva Systems in 2007, is a veteran of IBM and Salesforce. Whereas Salesforce has taken the route of building software for salespeople and marketers in any industry, Veeva has chosen the so-called vertical approach, focusing specifically on life sciences. There are similarities with Salesforce, though. Both companies have broadened their offerings and target audience over time. Gassner now has Veeva positioned to sell a more comprehensive suite of tools to the health-care industry. Like Zoom, Veeva was profitable at the time of its IPO in 2013. Since then, the stock has jumped from $20 to $154.29, getting a 15% boost on Thursday following a better-than-expected earnings report. Gassner, who also sits on Zoom’s board, holds 13 million Veeva shares, worth just over $2 billion.

Jay Chaudhry, Zscaler

Jay Chaudhry, CEO of Zscaler Adam Jeffery | CNBC

Chaudhry, founder and CEO of Zscaler, grew up in a Himalayan village. Today, people in 185 countries use technology from Zscaler, whose cloud-based software helps companies provide secure access to cloud applications. It’s the fifth company he’s started and funded. “My success so far has mainly been because I have very little attachment for money,” he told Bloomberg in an interview earlier this year. Nevertheless, his wealth has been swelling rapidly. Zscaler has jumped 356% since its IPO in March 2018, giving it a market cap of over $9 billion. The 26.8 million shares Chaudhry owns are worth more than $1.8 billion.

Chad Richison, Paycom

Paycom CEO Chad Richison, fourth from left, rings the opening bell at the New York Stock Exchange on April 8, 2015. Paycom


Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: jordan novet
Keywords: news, cnbc, companies, worth, public, company, meet, billionaires, shares, million, billion, zoom, companies, cloud, boom, software


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Airbus issues warning over escalation of US-EU dispute

Airbus has issued a warning about any escalation of the dispute over aircraft subsidies between the U.S. and the European Union, saying proposed tit-for-tat tariffs will hit the supply chain and the consumer. The U.S. and the EU have threatened billions of dollars’ worth of tariffs be imposed on goods including aircraft, the latest step in a long-running transatlantic dispute at the World Trade Organization. Airbus Chief Commercial Officer, Christian Scherer, told CNBC that the proposed tariffs


Airbus has issued a warning about any escalation of the dispute over aircraft subsidies between the U.S. and the European Union, saying proposed tit-for-tat tariffs will hit the supply chain and the consumer. The U.S. and the EU have threatened billions of dollars’ worth of tariffs be imposed on goods including aircraft, the latest step in a long-running transatlantic dispute at the World Trade Organization. Airbus Chief Commercial Officer, Christian Scherer, told CNBC that the proposed tariffs
Airbus issues warning over escalation of US-EU dispute Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: yolande chee
Keywords: news, cnbc, companies, worth, united, trade, escalation, airbus, union, supply, scherer, useu, dispute, warning, tariffs, proposed, subsidies, issues, saying


Airbus issues warning over escalation of US-EU dispute

Airbus has issued a warning about any escalation of the dispute over aircraft subsidies between the U.S. and the European Union, saying proposed tit-for-tat tariffs will hit the supply chain and the consumer.

The U.S. and the EU have threatened billions of dollars’ worth of tariffs be imposed on goods including aircraft, the latest step in a long-running transatlantic dispute at the World Trade Organization.

Airbus Chief Commercial Officer, Christian Scherer, told CNBC that the proposed tariffs “defy economic logic,” saying they will end up hurting the consumer.

“What would immediately happen would be retaliation, trade barriers going up, the price of airplane increases, which means airlines have higher costs which they then pass on to the consumer, and then everything slows down.”

Speaking with CNBC’s Chery Kang on the sidelines of the annual IATA General Meeting, Scherer added that the company’s predominantly American-based supply chain would be hurt by the ripple effect of the tariffs, with around 40% of all aircraft-related procurement coming from the United States.

U.S. President Trump last month said his administration would move ahead with tariffs on $11 billion worth of goods, with the USTR claiming the subsidies provided by the European Union to Airbus have adversely affected the United States.


Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: yolande chee
Keywords: news, cnbc, companies, worth, united, trade, escalation, airbus, union, supply, scherer, useu, dispute, warning, tariffs, proposed, subsidies, issues, saying


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Serena Williams eliminated from French Open, loses quest for 24th Grand Slam title

ANNE-CHRISTINE POUJOULAT | GettySerena Williams’ quest for a 24th Grand Slam title ended with her earliest loss at a major tournament in five years. Serena Williams (USA) in action during her match against Sofia Kenin (USA) on day seven of the 2019 French Open at Stade Roland Garros. Her first major tournament back was last year’s French Open, where she withdrew before a fourth-round match because of a chest muscle injury. Williams had said she considered not entering the French Open at all. Sof


ANNE-CHRISTINE POUJOULAT | GettySerena Williams’ quest for a 24th Grand Slam title ended with her earliest loss at a major tournament in five years. Serena Williams (USA) in action during her match against Sofia Kenin (USA) on day seven of the 2019 French Open at Stade Roland Garros. Her first major tournament back was last year’s French Open, where she withdrew before a fourth-round match because of a chest muscle injury. Williams had said she considered not entering the French Open at all. Sof
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Serena Williams eliminated from French Open, loses quest for 24th Grand Slam title

Serena Williams of the US reacts during her women’s singles third round match against Sofia Kenin of the US, on day seven of The Roland Garros 2019 French Open tennis tournament in Paris on June 1, 2019. ANNE-CHRISTINE POUJOULAT | Getty

Serena Williams’ quest for a 24th Grand Slam title ended with her earliest loss at a major tournament in five years. Williams was outplayed in the third round of the French Open by 20-year-old American Sofia Kenin, who used clean, deep groundstrokes to put together the 6-2, 7-5 upset Saturday. “In that first set, in particular, she hit pretty much inches from the line, and I haven’t played anyone like that in a long time,” Williams said. “I just saw a player that was playing unbelievable.” It was the second significant surprise in a matter of hours: Earlier in the day, No. 1 seed Naomi Osaka was eliminated 6-4, 6-2 by 42nd-ranked Katerina Siniakova of the Czech Republic. That ended Osaka’s 16-match Grand Slam winning streak, which included titles at the U.S. Open final in September — when she beat Williams in the final — and at the Australian Open in January. Osaka was trying to become the first woman to win three consecutive major trophies since Williams grabbed four in a row in 2014-15, a run that was preceded by a second-round loss at Roland Garros and a third-round loss at Wimbledon. Since those early-for-her defeats, Williams had won six of the 14 majors she entered to surpass Steffi Graf’s professional-era record of 22 Grand Slam singles championships. With 23, Williams stands one away from Margaret Court’s mark for the most in tennis history; Court played in both the professional and amateur eras.

Serena Williams (USA) in action during her match against Sofia Kenin (USA) on day seven of the 2019 French Open at Stade Roland Garros. Jun 1, 2019; Paris, France. Susan Mullane | USA TODAY Sports

Williams, who is 37, sat out four Slams in 2017-18 while she was off the tour to have a baby. Her first major tournament back was last year’s French Open, where she withdrew before a fourth-round match because of a chest muscle injury. She went on to reach the finals of Wimbledon and the U.S. Open, before wasting match points during a quarterfinal loss at the Australian Open. Williams came to Paris having played only four matches since then; she withdrew from two tournaments because of an injured left knee and another because of illness. Williams had said she considered not entering the French Open at all. “I’m glad I came, at the end of the day,” she said, “but it’s been a really grueling season for me.” She struggled through her opening match at the French Open, which she has won three times, and again against the 35th-ranked Kenin, who never before had made it to the round of 16 at a major. But Kenin played quite well, never showing a trace of nerves. It was Williams whose strokes were off target: Her 34 unforced errors were twice as many as Kenin’s total. Remarkably, Kenin broke Williams four times, while only ceding one of her own service games. “Just playing against Serena, you’ve really got to fight for every point,” Kenin said. “She’s such a tough player. I’m just so happy with this win.” And then, her voice choking on her words, Kenin added: “Obviously, you can tell, with my emotions.” After trailing 3-1 in the second set, Williams appeared to be getting back into the match, breaking back and then holding for a 4-3 lead with the help of three aces. After two of them, Williams stared down Kenin, who had questioned a call earlier in that game. At 5-all, though, Kenin got the last break she’d need with a forehand return winner off a 102 mph serve. She ran to her sideline seat and pressed a towel against her face. There was one last key moment: While serving for the victory, Kenin faced a break point, but Williams’ miscue let it go by. One last error by Williams — a backhand that sailed long — ended things. Like Williams, who dropped eight of the match’s first 10 games, Osaka couldn’t muster a comeback after falling way behind.

Sofia Kenin (USA) in action against Serena Williams (USA) on day seven of the 2019 French Open at Stade Roland Garros. Susan Mullane | USA TODAY Sports


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Philippines’ Duterte calls for action to reduce the risk of military conflict in the South China Sea

President Rodrigo Duterte of the Philippines has called for action to reduce the chance of conflict in the South China Sea, where the United States and other countries are challenging Chinese assertions of sovereignty. Beijing claims most of the disputed sea, parts of which are claimed by countries including the Philippines and Vietnam. China maintains that virtually the entire body of water — where trillions of dollars worth of international trade pass through each year — belongs to it. The Uni


President Rodrigo Duterte of the Philippines has called for action to reduce the chance of conflict in the South China Sea, where the United States and other countries are challenging Chinese assertions of sovereignty. Beijing claims most of the disputed sea, parts of which are claimed by countries including the Philippines and Vietnam. China maintains that virtually the entire body of water — where trillions of dollars worth of international trade pass through each year — belongs to it. The Uni
Philippines’ Duterte calls for action to reduce the risk of military conflict in the South China Sea Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: kelly olsen
Keywords: news, cnbc, companies, international, reduce, countries, waters, philippines, states, south, conflict, sea, risk, united, duterte, worth, china, territory, calls, military


Philippines' Duterte calls for action to reduce the risk of military conflict in the South China Sea

President Rodrigo Duterte of the Philippines has called for action to reduce the chance of conflict in the South China Sea, where the United States and other countries are challenging Chinese assertions of sovereignty.

Beijing claims most of the disputed sea, parts of which are claimed by countries including the Philippines and Vietnam. China maintains that virtually the entire body of water — where trillions of dollars worth of international trade pass through each year — belongs to it. The Asian giant has fortified, expanded and militarized reefs and islets to back up its stance.

The United States and other countries which claim no territory in the region have taken issue with Beijing’s position.

The U.S. Navy frequently sends ships within close distance of Chinese-held territory in the sea in what it calls displays of support for the right of freedom of navigation in international waters, angering Beijing. Navies from France and Britain have also carried out similar missions.


Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: kelly olsen
Keywords: news, cnbc, companies, international, reduce, countries, waters, philippines, states, south, conflict, sea, risk, united, duterte, worth, china, territory, calls, military


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Fewer Americans are drinking alcohol—so bars and brewers are adapting

Alcohol consumption across the globe fell 1.6% in 2018 to 27.6 billion cases, according to data from IWSR, which tracks alcohol trends. In the U.K., low- and no-alcohol brands only represent 1.3% of the country’s total beverage alcohol market, according to IWSR. For example, Heineken launched its alcohol-free beer, Heineken 0.0, first in Barcelona. Part of that strategy includes putting Heineken 0.0 right next to other Heineken products in retailers, not in the alcohol-free beer section that is


Alcohol consumption across the globe fell 1.6% in 2018 to 27.6 billion cases, according to data from IWSR, which tracks alcohol trends. In the U.K., low- and no-alcohol brands only represent 1.3% of the country’s total beverage alcohol market, according to IWSR. For example, Heineken launched its alcohol-free beer, Heineken 0.0, first in Barcelona. Part of that strategy includes putting Heineken 0.0 right next to other Heineken products in retailers, not in the alcohol-free beer section that is
Fewer Americans are drinking alcohol—so bars and brewers are adapting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: amelia lucas
Keywords: news, cnbc, companies, according, alcohol, bars, heineken, brewers, beer, iwsr, alcoholfree, 00, drinking, adapting, fewer, alcoholso, americans, trend, uk, drink


Fewer Americans are drinking alcohol—so bars and brewers are adapting

This summer when it comes time to celebrate with friends, it’s more likely someone in the group will be raising a glass with a beverage that doesn’t have alcohol.

The trend coincides with changing consumer tastes, as more people try to eat and drink healthier and follow low-carb diets like keto. The term “sober curious” has become popular as a way to identify those who want to stop or reduce their alcohol intake for wellness reasons.

Alcohol consumption across the globe fell 1.6% in 2018 to 27.6 billion cases, according to data from IWSR, which tracks alcohol trends. Non-alcoholic beverages other than soda, which has also seen its consumption fall, offer restaurants and drink makers the opportunity to capitalize on a trend that could otherwise hurt their bottom line.

Mocktails have been around for decades, and non-alcoholic beers have been around even longer, thanks to Prohibition. But more players are entering the market as the trend gathers steam with younger generations. According to IWSR data, the most frequent consumers of low- and no-alcohol drinks are between 21 to 44 years old — an age bracket that mostly includes millennials, with some Generation X consumers — and male.

In the U.K., low- and no-alcohol brands only represent 1.3% of the country’s total beverage alcohol market, according to IWSR. In the U.S., that number is even smaller: 0.5%. More popularity overseas means that most companies launching a no- or low-alcohol drink start there.

For example, Heineken launched its alcohol-free beer, Heineken 0.0, first in Barcelona. Then it rolled out elsewhere in Europe, including the U.K., before hitting the U.S. at the beginning of the year — just in time for Dry January.

“The United States was poised for a product like this, with health and well-being being a larger consumer trend. It’s really taken off, and people are really excited to have something like this,” Ashleigh Phelps, the Heineken brand manager who led 0.0’s U.S. launch, said in an interview.

Heineken has been marketing 0.0 to beer drinkers who enjoy the taste of a Heineken but aren’t always in the mood or setting to consume alcohol. Part of that strategy includes putting Heineken 0.0 right next to other Heineken products in retailers, not in the alcohol-free beer section that is usually more difficult to locate.

For now, though, the best known alcohol-free beer in the U.S. remains Anheuser-Busch InBev’s O’Doul’s.


Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: amelia lucas
Keywords: news, cnbc, companies, according, alcohol, bars, heineken, brewers, beer, iwsr, alcoholfree, 00, drinking, adapting, fewer, alcoholso, americans, trend, uk, drink


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US blacklisting Huawei could boost Samsung and Apple, top analyst says

Samsung and Apple could benefit in the smartphone market after the United States put Huawei on a blacklist that effectively bans U.S. firms from doing business with it, TF International Securities analyst Ming-Chi Kuo wrote in a note distributed on Saturday. The move from the Trump administration could restrict Huawei from sourcing components from U.S. companies for its products and services, including some key Google Android software, leading to reduced smartphone shipments and forcing Huawei t


Samsung and Apple could benefit in the smartphone market after the United States put Huawei on a blacklist that effectively bans U.S. firms from doing business with it, TF International Securities analyst Ming-Chi Kuo wrote in a note distributed on Saturday. The move from the Trump administration could restrict Huawei from sourcing components from U.S. companies for its products and services, including some key Google Android software, leading to reduced smartphone shipments and forcing Huawei t
US blacklisting Huawei could boost Samsung and Apple, top analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: kif leswing
Keywords: news, cnbc, companies, united, samsung, wrote, business, blacklisting, world, smartphone, huawei, components, usbanned, boost, apple, analyst


US blacklisting Huawei could boost Samsung and Apple, top analyst says

Samsung and Apple could benefit in the smartphone market after the United States put Huawei on a blacklist that effectively bans U.S. firms from doing business with it, TF International Securities analyst Ming-Chi Kuo wrote in a note distributed on Saturday.

The move from the Trump administration could restrict Huawei from sourcing components from U.S. companies for its products and services, including some key Google Android software, leading to reduced smartphone shipments and forcing Huawei to find replacements for U.S.-banned components, according to the research.

The analysis, from one of the top analysts covering the Asian and Chinese hardware supply chains, is an early look to how the export ban could impact Huawei’s smartphone business, which is currently the second-largest smartphone brand in the world after Samsung, but ahead of Apple.


Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: kif leswing
Keywords: news, cnbc, companies, united, samsung, wrote, business, blacklisting, world, smartphone, huawei, components, usbanned, boost, apple, analyst


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‘The algorithm is our boss’: Uber drivers face long hours, no benefits and sometimes danger

I’m working 70 hours a week, year in and year out, and I have to face the fact that I can’t take a vacation for one week. Rick Mendell Uber driverIn a typical week, he drives people around for 30 hours and said he makes $500. (Indeed, more than half of Uber’s drivers work less than 10 hours a week, according to the company.) Sonam Lama Uber driverLAMA’S LIFE CHANGED for the worse after Uber changed its pay structure in 2016. Of late, he said he works 40 hours a week and makes around $800.


I’m working 70 hours a week, year in and year out, and I have to face the fact that I can’t take a vacation for one week. Rick Mendell Uber driverIn a typical week, he drives people around for 30 hours and said he makes $500. (Indeed, more than half of Uber’s drivers work less than 10 hours a week, according to the company.) Sonam Lama Uber driverLAMA’S LIFE CHANGED for the worse after Uber changed its pay structure in 2016. Of late, he said he works 40 hours a week and makes around $800.
‘The algorithm is our boss’: Uber drivers face long hours, no benefits and sometimes danger Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: annie nova
Keywords: news, cnbc, companies, face, boss, work, company, algorithm, mendell, benefits, york, danger, long, drivers, lama, car, uber, hours, week


'The algorithm is our boss': Uber drivers face long hours, no benefits and sometimes danger

Uber driver Sonam Lama. Annie Nova | CNBC

AT 3 A.M., SONAM LAMA’S ALARM goes off. In his house in Queens, New York, while his wife and baby son sleep, he pulls on his clothes and makes coffee. Then he turns on his Uber app and waits. On this morning, a warm but windy Tuesday in May, an hour passes without a passenger request. “You’re just thinking, ‘When is the ride going to come? When is the ride going to come?'” the 35-year-old Lama said. A little after 5 a.m., one does. In a collared, white button-down shirt and khakis, he’s dressed more formally than usual. Later in the day, he’s taking a test for a job with the New York Police Department. He doesn’t want to drive for Uber anymore. “I’m not making a living,” Lama said. “Almost all drivers are looking for work elsewhere.”

REDONDO BEACH, CA – MARCH 25: Driver and strike organizer Nicole Moore speaks during a one-day strike against Uber and Lyft on Monday, Mar 25, 2019. MediaNews Group/Torrance Daily Breeze via Getty Images | MediaNews Group | Getty Images

UBER SAYS ITS MISSION IS “to ignite opportunity by setting the world in motion.” Yet as the company’s initial public offering unfolded in May, drivers across the country went on strike to denounce its low wages and lack of benefits. The ride-hailing company went public at $45 a share and has since dropped to around $40. On Thursday, in its first earnings report since the IPO, Uber showed revenue of $3.1 billion and a loss of $1.01 billion. The company labels its 3.9 million drivers as independent contractors instead of employees, a distinction that means it isn’t required to provide a minimum wage or paid time off, compensation for overtime or health insurance. And drivers are almost entirely on their own when it comes to the constant expenses of their cars, including insurance, repairs and gas. Uber says it offers people a way to work on their own schedule. And while it insists its drivers are not employees, it says it’s committed to proving a support system to them. The company points out that it recently introduced a rewards program, which gets drivers cash back on gas and discounts on car maintenance. Drivers can also sign up for an injury protection plan, in which they’d receive a monthly check should they become injured while working. Perks include tuition assistance at Arizona State University. CNBC spoke with the company’s drivers about how their financial lives are faring.

Protestors display a banner outside the New York Stock Exchange as Uber Technologies holds it’s IPO in New York, May 10, 2019. Andrew Kelly | Reuters

FOR FIVE YEARS NOW, Ismail has worked for Uber in Minnesota. He likes the flexibility and has always enjoyed being on the road. He has a full-time job — as a claim support specialist at CVS — but he makes only $40,000 a year at the pharmacy. (He asked to use his first name only since he was speaking about his employer.) “The income isn’t enough,” said Ismail, who is 38, married and has three young children.

I’m working 70 hours a week, year in and year out, and I have to face the fact that I can’t take a vacation for one week. Rick Mendell Uber driver

In a typical week, he drives people around for 30 hours and said he makes $500. Many people drive for companies such as Uber and Lyft because “they don’t get enough from their full-time job,” said Lawrence Mishel, an economist for the left-leaning Economic Policy Institute. (Indeed, more than half of Uber’s drivers work less than 10 hours a week, according to the company.) Ismail’s only day off is Sunday. “You basically don’t have any life,” he said. Recently, Ismail was driving a passenger to the airport when one of his tires ruptured. He lost control of the car, and it smashed into a highway wall. He and the passenger were uninjured, but the damage to his car was significant. It will cost him more than $3,000 to fix; however, he has no savings to draw from. In the meantime, he uses his wife’s car when it’s available.

RICK MENDELL’S ONLY JOB is driving for Uber. He’s 65 and works around 70 hours a week for the company, earning around $1,200. “That’s what it takes to pay the bills,” Mendell said. He didn’t expect to be doing this kind of work in his 60s. He was general manager of a towing and auto-body company for two decades, and then owned a wine bar in Corte Madera, California, which he eventually had to sell when the financial crisis hit. “When people are unemployed, they don’t go out buying $400 bottles of wine,” Mendell said. He depleted his savings trying to save the business. In 2016, he and his wife moved to a rental house in Nevada, where the cost of living is lower.

Uber Driver Rick Mendell Source: Rick Mendell

At first, he interviewed for a position as a wine and spirits specialist at the Safeway supermarket chain, but the job paid just $9 an hour. He attended career fairs but said he felt discriminated against because of his age. That’s when he turned to the Uber app. A recent analysis by the Retirement Equity Lab at the New School for Social Research found that workers over age 55 are three times more likely than those under 35 to work in the gig economy.

Mendell said he loves driving for Uber. The company recently notified him that he’s given rides to passengers from 71 different countries. “I have met some amazing people,” he said. One time, hip-hop star Nicki Minaj got into his car. And Mendell said he likes taking care of his passengers; he stocks his backseat area with tissues, cold water bottles and “seven phone chargers.” Yet he can’t keep up with the costs of his car. After a part on his 2015 Chrysler recently became unusable, he had to trade the vehicle in for another, racking up more auto debt in the process. “Three weeks ago, I replaced the rear brakes for $300,” he said. “You have to do the preventive maintenance, no matter how painful it is.” All told, his car typically costs him around $1,500 a month. He feels trapped without any paid time off. “I’m working 70 hours a week, year in and year out,” he said, “and I have to face the fact that I can’t take a vacation for one week.” With little retirement savings, he tries not to think about what would happen if he couldn’t drive for Uber anymore.

The algorithm is our boss. Sonam Lama Uber driver

LAMA’S LIFE CHANGED for the worse after Uber changed its pay structure in 2016. Of late, he said he works 40 hours a week and makes around $800. At one point, he earned over $2,000 a week, though he was putting in more hours then. “It’s stressful,” Lama said. “You have to make adjustments.” It was important to his wife to feed their child, named after his father, Sonam, organic food but she’s had to turn to cheaper items. The three of them used to escape the city on weekends, often to upstate New York, but they do so less these days.


Company: cnbc, Activity: cnbc, Date: 2019-06-01  Authors: annie nova
Keywords: news, cnbc, companies, face, boss, work, company, algorithm, mendell, benefits, york, danger, long, drivers, lama, car, uber, hours, week


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