China’s ‘tremendous’ tech progress could see trade tensions rumble on: Bain & Co

That’s because Trump’s apparent war against Chinese trade practices is really a war on technology — a space in which China is making “tremendous” progress, according to Henrik Naujoks, partner at the global management consultancy. “The critical point is that, behind the trade negotiations, there is an underlying theme — which is technology — and the fight for dominance in the technology space,” Naujoks told CNBC Monday at the World Economic Forum in Dalian, China. As part of wider talks to curb


That’s because Trump’s apparent war against Chinese trade practices is really a war on technology — a space in which China is making “tremendous” progress, according to Henrik Naujoks, partner at the global management consultancy. “The critical point is that, behind the trade negotiations, there is an underlying theme — which is technology — and the fight for dominance in the technology space,” Naujoks told CNBC Monday at the World Economic Forum in Dalian, China. As part of wider talks to curb
China’s ‘tremendous’ tech progress could see trade tensions rumble on: Bain & Co Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: karen gilchrist
Keywords: news, cnbc, companies, president, bain, chinas, china, war, products, chinese, technology, naujoks, tech, tremendous, trump, space, tensions, trade, progress, rumble


China's 'tremendous' tech progress could see trade tensions rumble on: Bain & Co

President Donald Trump has suggested he would reverse restrictions preventing American companies from selling their products to Chinese technology giant Huawei — but it remains unclear if that agreement will bring about any near-term resolution to the year-long trade fight between the U.S. and China, according to management consultancy Bain & Company.

That’s because Trump’s apparent war against Chinese trade practices is really a war on technology — a space in which China is making “tremendous” progress, according to Henrik Naujoks, partner at the global management consultancy.

“The critical point is that, behind the trade negotiations, there is an underlying theme — which is technology — and the fight for dominance in the technology space,” Naujoks told CNBC Monday at the World Economic Forum in Dalian, China.

As part of wider talks to curb an ongoing trade dispute with China, Trump agreed to remove some curbs on Huawei on Saturday, during his meeting with Chinese President Xi Jinping at the Group of 20 summit in Osaka, Japan.

The two leaders also agreed not to levy any further tariffs against each other’s products as they sought to proceed with ongoing negotiations.

“I think we have to take this into account if we take a mid- to long-term view,” Naujoks said.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: karen gilchrist
Keywords: news, cnbc, companies, president, bain, chinas, china, war, products, chinese, technology, naujoks, tech, tremendous, trump, space, tensions, trade, progress, rumble


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump is laying groundwork for a new world order built around the US, China and Russia

U.S. President Donald Trump and China’s President Xi Jinping shake hands before their bilateral meeting during the G-20 leaders summit in Osaka, Japan on June 29, 2019. An olive branch to ChinaIgnoring complaints of American companies about discriminatory treatment in China, Xi also asked that the Chinese businesses should be treated fairly by U.S. authorities. Some observers have already determined that Trump lost last week in his trade and security confrontation with China. He is a winner and


U.S. President Donald Trump and China’s President Xi Jinping shake hands before their bilateral meeting during the G-20 leaders summit in Osaka, Japan on June 29, 2019. An olive branch to ChinaIgnoring complaints of American companies about discriminatory treatment in China, Xi also asked that the Chinese businesses should be treated fairly by U.S. authorities. Some observers have already determined that Trump lost last week in his trade and security confrontation with China. He is a winner and
Trump is laying groundwork for a new world order built around the US, China and Russia Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: dr michael ivanovitch
Keywords: news, cnbc, companies, xi, president, china, american, built, trump, japan, russia, world, meeting, trade, laying, order, groundwork


Trump is laying groundwork for a new world order built around the US, China and Russia

U.S. President Donald Trump and China’s President Xi Jinping shake hands before their bilateral meeting during the G-20 leaders summit in Osaka, Japan on June 29, 2019. Kevin Lamarque | Reuters

President Donald Trump showed during last week’s Group of 20 meeting in Osaka, Japan what he meant by repeated off-the-cuff remarks that he wanted to build good relations with Russia and China. He had an apparently friendly and wide-ranging discussion with Russia’s President Vladimir Putin on Friday. The two leaders agreed that American and Russian officials would continue their consultations about global and regional issues, and ways of improving and expanding bilateral political and economic ties. That was followed Saturday by Trump’s meeting with China’s President Xi Jinping who — in a dig at the U.S. — extolled multilateralism and sharply criticized trade protectionism in his opening remarks to the G-20 plenary session. Xi reiterated those views by saying that he wanted cooperation rather than “friction and confrontation.” Eventually, the Trump-Xi meeting ended up on a conciliatory note. Additional trade tariffs will be put to the side, and the two countries’ negotiating teams will pick up where they left off when trade talks were interrupted a month ago.

An olive branch to China

Ignoring complaints of American companies about discriminatory treatment in China, Xi also asked that the Chinese businesses should be treated fairly by U.S. authorities. Trump obliged by allowing American firms to sell technology to Chinese telecom giant Huawei in areas that were not critical to national security. What does that all mean? First and foremost, it signals the beginning of Trump’s firm focus on his reelection campaign, where a scuffle, or worse, with Russia and China would be a devastating event and leave him as a one-term player — even in the context of a rather uninspiring lineup of Democratic competitors. Calming things down with two countries branded by Washington as strategic competitors hell-bent on undermining America’s world order is a priority — “for now,” as Trump likes to say. And, as he also would say, “we shall see later,” presumably after his reelection. Will that fly as a feasible election strategy? Yes it will, because, as said earlier, Trump correctly sees that picking a fight with Russia and China is an existential threat to humanity Americans and the rest of the world would not support. So, Trump looks for peaceful and negotiated solutions with Russia in Syria, Ukraine and Venezuela, with a carrot for Moscow in opening up huge opportunities for American businesses eager to expand their operations in the country’s investment-starved enormous territories. In fact, the American business delegation was one of the largest at the recent economic forum in St. Petersburg, Russia. Moscow’s allegedly key policy influence within the OPEC oil cartel is also seen as a precious help in holding energy prices down, and staying the Federal Reserve’s hand in hiking interest rates to forestall energy-driven inflation pressures.

Trump assist for Japan’s winner

Iran is another issue where Russia has a helpful hand. That’s in sharp contrast with America’s closest allies — the United Kingdom, France and Germany — who not only publicly disagree with the U.S. on Iran, but also actively oppose Washington’s Iran sanctions and have established a special payment facility to do business with Tehran. China is an entirely different problem. While Russia could be an irritant in some global issues and in managing Europe’s centuries-old hatreds, China is already a very credible challenge to American world order — seriously undermining Washington’s increasingly unstable trans-Atlantic and Asian alliances. Some observers have already determined that Trump lost last week in his trade and security confrontation with China. That is a hasty, thoughtless and unworthy assessment. It is true, however, that Trump’s trade armistice with China was dictated by his domestic considerations. It is also true that Trump appeared to be scaling back his ill-advised political overreach under the guise of his unassailable trade case against China. The bottom line, again, for now, is that Trump will have to settle for China’s commitment to cut its American trade surpluses, but he definitely has to forget about interfering in China’s legislative process and economic policies – hot-button issues that China calls “issues of principle.” Trump wasted two-and-a-half years and $1 trillion of American money (rising trade deficits with China) in pursuit of political objectives that he should have known China would never accept. Whoever pushed Trump in that direction deserves his signature “You’re fired!” scream. But Japan’s Prime Minister Shinzo Abe deserves kudos. He is a winner and a happy man: Trump pushed China into his lap. Abe, as a result, should be the first to thank Trump for making Japan’s impossible dream come true. Xi, who looked like he was holding his nose during years of photo ops with Abe, last week accepted an invitation to pay a state visit to Japan next spring. Let’s see now how Trump manages Japan, its huge and systematic annual trade surpluses of about $70 billion on American trades, and Washington’s irrevocable obligation to unconditionally defend what is still called America’s key Asian ally. Putting it all together and lifting the sights from here and now, Trump may have started a process of enduring world peace. That concept is based on the idea that the U.S., Russia and China have been staring for years at an underlying security architecture of a uniquely binary choice: The end of humanity, or a new, hopefully American, world order built around those three key players whose economic and civilizational interests call for peaceful co-existence.

Investment thoughts


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: dr michael ivanovitch
Keywords: news, cnbc, companies, xi, president, china, american, built, trump, japan, russia, world, meeting, trade, laying, order, groundwork


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Access Denied

Access DeniedThe page you requested has been blocked by a firewall policy restriction.


Access DeniedThe page you requested has been blocked by a firewall policy restriction.
Access Denied Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01
Keywords: news, cnbc, companies, page, access, denied, requested, deniedthe, restriction, policy, blocked, firewall


Access Denied

The page you requested has been blocked by a firewall policy restriction.


Company: cnbc, Activity: cnbc, Date: 2019-07-01
Keywords: news, cnbc, companies, page, access, denied, requested, deniedthe, restriction, policy, blocked, firewall


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Self-driving cars face two important challenges, says World Economic Forum executive

Automakers and technology companies have invested billions into researching autonomous vehicles. But the industry has two big challenges it needs to overcome before self-driving cars become widespread — technology and business models that can make money, according to Michelle Avary, head of autonomous mobility at the World Economic Forum. The first, obviously, is a technological challenge,” Avary told CNBC’s Geoff Cutmore and Arjun Kharpal at the World Economic Forum in Dalian, China. The other


Automakers and technology companies have invested billions into researching autonomous vehicles. But the industry has two big challenges it needs to overcome before self-driving cars become widespread — technology and business models that can make money, according to Michelle Avary, head of autonomous mobility at the World Economic Forum. The first, obviously, is a technological challenge,” Avary told CNBC’s Geoff Cutmore and Arjun Kharpal at the World Economic Forum in Dalian, China. The other
Self-driving cars face two important challenges, says World Economic Forum executive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, selfdriving, model, autonomous, forum, important, technology, challenges, industry, companies, avary, world, face, big, business, executive, economic, cars


Self-driving cars face two important challenges, says World Economic Forum executive

Close-up of self driving minivan, with LIDAR and other sensor units and logo visible, part of Google parent company Alphabet Inc, driving past historic railroad station with sign reading Mountain View, in the Silicon Valley town of Mountain View, California, with safety driver visible, October 28, 2018.

Automakers and technology companies have invested billions into researching autonomous vehicles.

But the industry has two big challenges it needs to overcome before self-driving cars become widespread — technology and business models that can make money, according to Michelle Avary, head of autonomous mobility at the World Economic Forum.

“We’ve got a couple of big challenges in front of us. The first, obviously, is a technological challenge,” Avary told CNBC’s Geoff Cutmore and Arjun Kharpal at the World Economic Forum in Dalian, China.

“Really making sure that the technology is working in the areas of perception, which is vision — being able to identify objects and then understand how to move around them. That has yet to be solved.”

The industry relies on collaboration and sharing of data among companies to build the technology. If the ongoing trade tensions between the U.S. and China prevent firms from sharing geography-specific datasets, Avary said it will “actually stymie the growth of the industry” and prevent companies from operating outside their own countries.

Still, Avary said, there’s likely going to be more mergers and acquisitions as well as partnerships happening in the space between auto manufacturers and technology companies.

Recently, smartphone giant Apple purchased an autonomous vehicle start-up, Drive.ai, which confirmed the iPhone-maker’s continued interest in self-driving car software.

“The two sides need each other and the market is enormous, so, I think there’s a lot of opportunities for everyone to come out as winners,” she said.

The other big challenge, according to Avary, is the business model for self-driving vehicles.

“We see some big divergence between the whole idea of the business model of the robo-taxi versus what we see in areas like commercial trucking, mining and construction, where the business model case might be more readily made,” she said.

Robo-taxis refer to driverless ride-sharing services, which are being tested in various areas around the United States. Last month, Waymo, a subsidiary of Google-parent Alphabet, made some of its self-driving minivans available to customers of ride-sharing company Lyft. The latter’s rival Uber is also working to deploy self-driving cars without safety drivers in limited areas.

For its part, Waymo is developing autonomous vehicles and related services, and has signed deals with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Europe and Asia.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, selfdriving, model, autonomous, forum, important, technology, challenges, industry, companies, avary, world, face, big, business, executive, economic, cars


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Durant, Irving make Nets the talk of the town in New York

They agreed to deals with superstars Kevin Durant and Kyrie Irving as part of a sensational start to free agency, giving the longtime No. They also added center DeAndre Jordan, who played with Durant and Irving on the 2016 U.S. Olympic team that won the gold medal, and veteran swingman Garrett Temple. They might have to wait a year, as Durant could miss next season while recovering from a ruptured Achilles tendon. But with Irving taking controls of the offence and a promising young core around h


They agreed to deals with superstars Kevin Durant and Kyrie Irving as part of a sensational start to free agency, giving the longtime No. They also added center DeAndre Jordan, who played with Durant and Irving on the 2016 U.S. Olympic team that won the gold medal, and veteran swingman Garrett Temple. They might have to wait a year, as Durant could miss next season while recovering from a ruptured Achilles tendon. But with Irving taking controls of the offence and a promising young core around h
Durant, Irving make Nets the talk of the town in New York Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01
Keywords: news, cnbc, companies, talk, kevin, durant, warriors, knicks, team, season, nets, free, irving, york, town, nba


Durant, Irving make Nets the talk of the town in New York

Kevin Durant #35 of the Golden State Warriors defends against LeBron James of the Cleveland Cavaliers in Game 2 of the 2018 NBA Finals at ORACLE Arena on June 3, 2018 in Oakland, California.

Just three seasons ago, the Brooklyn Nets were the worst team in the NBA.

On Sunday, they were the story of the league.

They agreed to deals with superstars Kevin Durant and Kyrie Irving as part of a sensational start to free agency, giving the longtime No. 2 team in New York top billing in the Big Apple.

They landed two of the top players available, both perennial All-Stars and NBA champions, and they weren’t finished. They also added center DeAndre Jordan, who played with Durant and Irving on the 2016 U.S. Olympic team that won the gold medal, and veteran swingman Garrett Temple.

It was such a powerful victory that the crosstown Knicks even put out a statement acknowledging their fans’ disappointment, just three hours after shopping season had started.

And it was even more remarkable given where the Nets were not long ago.

An ill-fated trade with Boston in 2013, when the Nets acquired Kevin Garnett and Paul Pierce in hopes of competing for a championship but didn’t even get out of the second round, cost them years of high draft picks and contributed to them becoming the worst team in the league.

They bottomed out at 20-62 in 2016-17, when Durant won NBA Finals MVP in his first season with Golden State after the Warriors beat Irving’s Cleveland Cavaliers for the title.

Now they will try to win one together.

They might have to wait a year, as Durant could miss next season while recovering from a ruptured Achilles tendon. But with Irving taking controls of the offence and a promising young core around him, the Nets should be a playoff team, even while Durant recovers.

The Nets got back to the playoffs last season after going 42-40, stamping themselves as a team on the rise. Brooklyn might be able to keep rising all the way to the top after Sunday’s moves.

Even after winning titles in his first two seasons with the Warriors, there was seasonlong speculation that Durant might leave. But much of that speculation had been focused on the Knicks, who had more than $70 million and the ability to sign two top free agents after trading Kristaps Porzingis during the season.

Right city, but wrong team.

The Nets felt confident with what they could offer, from their roster, to their medical staff, to their facilities. And when they made a cap-clearing trade last month, they became even more attractive by freeing up salary to bring in two stars.

Irving wasn’t expected to be one of them a few months ago, after he’d said last fall he planned to re-sign in Boston. But despite his good stats it was a bad season for him with the Celtics, who were considered an Eastern Conference favourite but instead lost in the second round.

Irving became frustrated and reconsidered his plans, deciding his future was not in Boston, but in Brooklyn. Now he’ll play for the team he watched while growing up in New Jersey, where the Nets played before moving to Barclays Center in 2012.

Even when the Nets had better teams, the Knicks still got more attention and it sometimes felt as if they would always be the marquee team in the city.

That changed Sunday in a New York minute.

The Nets were not only the talk of the town but of the whole league, and when the Knicks were shut out early on, they took the rare step of commenting about their situation.

“While we understand that some Knicks fans could be disappointed with tonight’s news, we continue to be upbeat and confident in our plans to rebuild the Knicks to compete for championships in the future, through the draft, targeted free agents and continuing to build around our core of young players,” Knicks President Steve Mills said in a statement.

The Knicks eventually agreed to deals with forwards Julius Randle, Taj Gibson and Bobby Portis, so they did get something.

Just nowhere near as much as the Nets.


Company: cnbc, Activity: cnbc, Date: 2019-07-01
Keywords: news, cnbc, companies, talk, kevin, durant, warriors, knicks, team, season, nets, free, irving, york, town, nba


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Here’s how much President Trump’s 28-year-old director of Oval Office operations makes

In 2017, the Trump administration tapped the then-26-year-old to serve as a special assistant and executive assistant to the president, a role in which she earned $95,000 a year . In February of 2019, she was promoted to director of Oval Office operations, a position that comes with an annual salary of $145,000, according to White House salary data released July 1. Madeleine Westerhout, 28, is one of the longest-tenured members of President Trump’s White House staff, a group often noted for its


In 2017, the Trump administration tapped the then-26-year-old to serve as a special assistant and executive assistant to the president, a role in which she earned $95,000 a year . In February of 2019, she was promoted to director of Oval Office operations, a position that comes with an annual salary of $145,000, according to White House salary data released July 1. Madeleine Westerhout, 28, is one of the longest-tenured members of President Trump’s White House staff, a group often noted for its
Here’s how much President Trump’s 28-year-old director of Oval Office operations makes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: courtney connley
Keywords: news, cnbc, companies, president, executive, white, operations, trumps, heres, oval, office, salary, westerhout, house, staff, republican, makes, assistant, according, 28yearold, director


Here's how much President Trump's 28-year-old director of Oval Office operations makes

In 2017, the Trump administration tapped the then-26-year-old to serve as a special assistant and executive assistant to the president, a role in which she earned $95,000 a year . In February of 2019, she was promoted to director of Oval Office operations, a position that comes with an annual salary of $145,000, according to White House salary data released July 1.

Madeleine Westerhout, 28, is one of the longest-tenured members of President Trump’s White House staff, a group often noted for its high turnover rate.

That’s up from the $130,000 salary she earned last year as Trump’s assistant. It’s also significantly higher than the annual median income of $69,000 that most millennial households bring in, according to a Pew Research Center analysis.

Anita Decker Breckenridge, who started as former President Barack Obama’s executive assistant during his second term, at age 32, also made $95,000 during her two years in the White House. Meanwhile, Obama’s first executive assistant, Katie Johnson, who started in 2009, made $90,000 during her second year in the role.

Originally from California, Westerhout first caught media attention in 2016 when she was photographed escorting high-profile individuals through the hallways of Trump Tower. At the time, she was an assistant to Republican National Committee chief of staff Katie Walsh.

She graduated from the College of Charleston in 2013 with a bachelor’s degree in political science. According to her college’s website, the young politico took the fall semester off in her senior year to intern for Mitt Romney’s 2012 presidential campaign. After graduation, she moved to Washington, D.C., to intern for former California Republican Rep. John Campbell, before taking on a staff role with the Republican National Committee.

Like this story? Subscribe to CNBC Make It on YouTube!

Don’t miss: Abortion, equal pay, family leave: Here are all the women’s rights policies proposed by 2020 candidates so far


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: courtney connley
Keywords: news, cnbc, companies, president, executive, white, operations, trumps, heres, oval, office, salary, westerhout, house, staff, republican, makes, assistant, according, 28yearold, director


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Hong Kong protesters smash windows and try to storm legislature

The controversial law would pave the way for people arrested in Hong Kong to stand trial in mainland China. Meanwhile, a separate group of Hong Kong protesters rallied on Sunday and Monday in support of the local police and Beijing for trying to maintain order. It’s a proposal, or a set of proposals, which strike a terrible blow … against the rule of law, against Hong Kong’s stability and security, against Hong Kong’s position as a great international trading hub. I and the (Hong Kong) governm


The controversial law would pave the way for people arrested in Hong Kong to stand trial in mainland China. Meanwhile, a separate group of Hong Kong protesters rallied on Sunday and Monday in support of the local police and Beijing for trying to maintain order. It’s a proposal, or a set of proposals, which strike a terrible blow … against the rule of law, against Hong Kong’s stability and security, against Hong Kong’s position as a great international trading hub. I and the (Hong Kong) governm
Hong Kong protesters smash windows and try to storm legislature Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: grace shao chery kang, grace shao, chery kang
Keywords: news, cnbc, companies, protesters, bill, china, storm, kongs, legislature, chinese, ceremony, smash, public, hong, try, kong, anniversary, windows


Hong Kong protesters smash windows and try to storm legislature

Protesters smashed the windows of Hong Kong’s legislature on Monday as they attempted to storm the building on the 22nd anniversary of the former British colony’s handover to China. Citizens of Hong Kong — a Special Administrative Region of China — rally on this day each year to demand for democracy. But experts had warned this year’s anniversary might attract more people after recent protests, which started in early une, against the government’s proposed extradition bill. The controversial law would pave the way for people arrested in Hong Kong to stand trial in mainland China. Scenes of chaos were apparent in some protest sites on Monday as thousands of pro-democracy protesters took to the streets to demonstrate against a recent proposed extradition bill. Police, who were on standby as the protests grew increasingly chaotic, said some 1,500 protesters had gathered near the Hong Kong government headquarters on Monday. Reuters reported that more than 100 riot police confronted protesters, beating some with batons and using pepper spray to disperse the crowds gathered to disrupt a planned ceremony to mark the July 1 handover in 1997.

Anti-extradition protesters outside the Legislative Council Complex ahead of the annual flag raising ceremony of 22nd anniversary of the city’s handover from Britain to China on July 1, 2019 in Hong Kong, China. Anthony Kwan | Getty Images

The president of Hong Kong’s Legislative Council, released a statement through a spokesperson saying he “strongly condemns the violent act of charging the Legislative Council building this afternoon,” according to a translation by CNBC. “Protesters pushed a steel cart and used steel bars to severely vandalize multiple parts of the Legislative Council building,” the statement said. Meanwhile, a separate group of Hong Kong protesters rallied on Sunday and Monday in support of the local police and Beijing for trying to maintain order. Police were also hurt, with local media showing that 13 police officers were burned by liquid sprayed by demonstrators.

It’s a proposal, or a set of proposals, which strike a terrible blow … against the rule of law, against Hong Kong’s stability and security, against Hong Kong’s position as a great international trading hub. Chris Patten Hong Kong’s last British governor

The Hong Kong government on suspended the controversial bill on June 15, following days of protests which became one of the city’s largest and most violent rally in decades. Speaking at the flag- raising ceremony marking the 22nd anniversary on Monday, Chief Executive Carrie Lam finally again after being accused for not being seen in public since June 18 — when she made a public apology for stoking anxiety and conflict with the unpopular plan. Public outrage over how she handled the protests, including her issued apologies through the city’s spokespeople, have led to outcries for her resignation. Lam said on Monday: “The incident that happened in recent months has led to controversies and disputes between the public and the government. This has made me fully realize that I, as a politician, have to remind myself all the time of the need to grasp public sentiments accurately.” “After this incident, I will learn the lesson and ensure that the government’s future work will be closer and more responsive to the aspirations, sentiments and opinions of the community,” she added.

‘Volatile’ situation

“This year’s anniversary is shaping up to be quite volatile due to the unresolved nature of the extradition bill,” said Andrew Colfan at Eurasia Group. “While some pro-democracy forces have accepted the ‘compromise’ of only a partial withdrawal of the bill, others continue to fight for the full withdrawal, as well as Carrie Lam’s resignation.” Lam has been criticized for mishandling the police violence against the protesters in Hong Kong and only acting on behalf of the Chinese government. Protesters saw the proposed extradition bill as just another step by Beijing to jeopardize Hong Kong’s autonomy, but the Chinese government has denied any interference. Addressing the public, Lam said on Monday: “Every one of us in Hong Kong, though holding different views and assuming different roles, loves this place and treasures our long-cherished values. I and the (Hong Kong) government will double our efforts to restore people’s confidence and get Hong Kong off to a new start.”

Hong Kong has already lost much of its freedom to Beijing’s encroachment. Andrew Colfan analyst, Eurasia Group

The area around Golden Bauhinia Square, where the flag-raising ceremony took place has been blocked off since Saturday to prevent protesters from gathering to disrupt it. But protesters started setting up barricades across nearby streets as early as 4:30 a.m. local time, leading to a standoff with police blocking access to the square. They began moving toward the police as the ceremony was about to take place at 8 a.m. While officers drove back demonstrators with plastic shields, the retreating protesters pointed open umbrellas to ward off pepper spray.

Business concerns

Hong Kong has been divided between pro-democracy and pro-Beijing groups for years. While the Chinese government has tightened its control over the city but also given the territory access to the world’s largest economy. Businesses have usually steered away from criticizing the Chinese government over any policies regarding the administration of Hong Kong, in fear of losing any economic benefits the territory currently enjoys. Under the the Mainland and Hong Kong Closer Economic Partnership Arrangement — also known as CEPA — Hong Kong enjoys highly liberalized trade in goods and services with China and has since become the gateway to the Chinese market for many international companies.

Skyscrapers in the business district of Central in Hong Kong, China. Xaume Olleros | Bloomberg | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: grace shao chery kang, grace shao, chery kang
Keywords: news, cnbc, companies, protesters, bill, china, storm, kongs, legislature, chinese, ceremony, smash, public, hong, try, kong, anniversary, windows


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Iran warns ‘unilateralism’ between Saudi Arabia and Russia could lead to the death of OPEC

Iranian Oil Minister Bijan Zanganeh believes “unilateralism” among some OPEC members could ultimately lead to the death of the Middle East-dominated producer group. OPEC is set to debate an extension of oil production cuts when it meets on Monday, before getting the deal endorsed by non-members such as Russia on Tuesday. Russian President Vladimir Putin said over the weekend that the non-OPEC leader had agreed with Saudi Arabia to extend supply cuts by at least six months. Speaking to reporters


Iranian Oil Minister Bijan Zanganeh believes “unilateralism” among some OPEC members could ultimately lead to the death of the Middle East-dominated producer group. OPEC is set to debate an extension of oil production cuts when it meets on Monday, before getting the deal endorsed by non-members such as Russia on Tuesday. Russian President Vladimir Putin said over the weekend that the non-OPEC leader had agreed with Saudi Arabia to extend supply cuts by at least six months. Speaking to reporters
Iran warns ‘unilateralism’ between Saudi Arabia and Russia could lead to the death of OPEC Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: sam meredith
Keywords: news, cnbc, companies, unilateralism, zanganeh, cuts, months, iran, opec, oil, supply, russia, lead, death, production, arabia, warns, producer, saudi


Iran warns 'unilateralism' between Saudi Arabia and Russia could lead to the death of OPEC

Iranian Oil Minister Bijan Zanganeh believes “unilateralism” among some OPEC members could ultimately lead to the death of the Middle East-dominated producer group.

OPEC is set to debate an extension of oil production cuts when it meets on Monday, before getting the deal endorsed by non-members such as Russia on Tuesday.

Russian President Vladimir Putin said over the weekend that the non-OPEC leader had agreed with Saudi Arabia to extend supply cuts by at least six months. Meanwhile, Saudi Energy Minister Khalid al-Falih said Sunday that the deal would most likely be prolonged for nine months and no deeper cuts would be required.

Speaking to reporters in Vienna, Austria on Monday, Zanganeh said: “The important thing to me is that OPEC remains OPEC. It has lost its authority and it is on the verge of collapse.”

“Iran is not going to leave OPEC… But I believe OPEC is going to die if these processes continue,” Zanganeh said, referring to Russia-Saudi decision.

OPEC and its allies have been reducing oil output since 2017 to prevent prices from sliding amid soaring production from the U.S. — which has become the world’s top producer this year ahead of Russia and Saudi Arabia.

The U.S. is not a member of OPEC, nor is it participating in the supply pact. Washington has demanded Riyadh pump more oil to compensate for lower exports from Iran after slapping fresh sanctions on Tehran over its nuclear program.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: sam meredith
Keywords: news, cnbc, companies, unilateralism, zanganeh, cuts, months, iran, opec, oil, supply, russia, lead, death, production, arabia, warns, producer, saudi


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Private survey of China’s factory activity in June shows lowest reading since January

China’s manufacturing activity shrank unexpectedly in June, coming in at its worst reading since January, according to a private survey. The PMI reading for May was 50.2. PMI readings above 50 indicate expansion, while those below that signal contraction. The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. The Caixin indicator, features a bigger mix of small- and medium-sized firms.


China’s manufacturing activity shrank unexpectedly in June, coming in at its worst reading since January, according to a private survey. The PMI reading for May was 50.2. PMI readings above 50 indicate expansion, while those below that signal contraction. The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. The Caixin indicator, features a bigger mix of small- and medium-sized firms.
Private survey of China’s factory activity in June shows lowest reading since January Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: huileng tan
Keywords: news, cnbc, companies, lowest, chinas, pmi, factory, survey, reading, caixin, shows, zhong, readings, private, orders, activity, indicator, polled


Private survey of China's factory activity in June shows lowest reading since January

China’s manufacturing activity shrank unexpectedly in June, coming in at its worst reading since January, according to a private survey.

The Caixin/Markit factory Purchasing Managers’ Index for June was 49.4 — the lowest since January when the indicator came in at 48.3.

Analysts polled by Reuters had expected the indicator to come in at 50. The PMI reading for May was 50.2.

PMI readings above 50 indicate expansion, while those below that signal contraction.

The lackluster reading was due to new orders falling into contractionary territory, pointing to shrinking domestic demand, said Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin. The index measuring new export orders was also in negative territory,.

“Overall, China’s economy came under further pressure in June,” Zhong wrote in a report.

“It’s crucial for policymakers to step up countercyclical policies. New types of infrastructure, high-tech manufacturing and consumption are likely to be the main policy focuses,” Zhong added.

The Caixin survey finding was in line with readings from China’s official PMI which stood at 49.4 in June, contracting more than expected, according to China’s National Bureau of Statistics on Sunday. That was unchanged from the previous month. Analysts polled by Reuters had predicted a reading of 49.5.

The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. The Caixin indicator, features a bigger mix of small- and medium-sized firms.

The PMI is a survey of businesses about the operating environment. Such data offer a first glimpse into what’s happening in an economy, as they are usually among the first major economic indicators released each month.

For China, the PMI is among economic indicators that investors globally watch closely for signs of trouble amid domestic headwinds and the ongoing U.S.-China trade dispute.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: huileng tan
Keywords: news, cnbc, companies, lowest, chinas, pmi, factory, survey, reading, caixin, shows, zhong, readings, private, orders, activity, indicator, polled


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Pete Buttigieg raises $24.8 million in the second quarter as his White House bid gains momentum

South Bend Mayor Pete Buttigieg speaks during the second night of the first Democratic presidential candidates debate in Miami, Florida, June 27, 2019. Democratic rising star and 2020 presidential hopeful Pete Buttigieg announced his fundraising total for the second quarter of his 2020 run for president early Monday morning. The $24.8 million haul represents a massive total following his surge in the polls and a strong performance at the first Democratic debate in Miami last week. A poll conduct


South Bend Mayor Pete Buttigieg speaks during the second night of the first Democratic presidential candidates debate in Miami, Florida, June 27, 2019. Democratic rising star and 2020 presidential hopeful Pete Buttigieg announced his fundraising total for the second quarter of his 2020 run for president early Monday morning. The $24.8 million haul represents a massive total following his surge in the polls and a strong performance at the first Democratic debate in Miami last week. A poll conduct
Pete Buttigieg raises $24.8 million in the second quarter as his White House bid gains momentum Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: brian schwartz
Keywords: news, cnbc, companies, momentum, quarter, president, debate, second, house, million, white, run, fundraising, gains, south, democratic, campaign, pete, buttigieg, raises


Pete Buttigieg raises $24.8 million in the second quarter as his White House bid gains momentum

South Bend Mayor Pete Buttigieg speaks during the second night of the first Democratic presidential candidates debate in Miami, Florida, June 27, 2019.

Democratic rising star and 2020 presidential hopeful Pete Buttigieg announced his fundraising total for the second quarter of his 2020 run for president early Monday morning.

The $24.8 million haul represents a massive total following his surge in the polls and a strong performance at the first Democratic debate in Miami last week. A poll conducted by Morning Consult after the debate showed Buttigieg with a 10 point increase in favorability.

Buttigieg is going into the third quarter with $22.6 million on hand.

Since he officially commenced his underdog campaign for president in April, the South Bend, Indiana, mayor has made inroads with big money donors. He’s among three 2020 contenders, including former Vice President Joe Biden and California Sen. Kamala Harris, who have received the support of top financiers across the country, as CNBC reported in June.

Buttigieg has enlisted the help of at least two dozen Democratic bundlers that had strong allegiances to former President Barack Obama and Hillary Clinton during her White House run. One of those fundraisers is Hollywood producer Nicole Avant, who decided to go all in and help Buttigieg raise campaign cash, his spokesman recently told CNBC. He finished the first quarter bringing in $7 million.

At the debate, Buttigieg made headlines when he openly took responsibility for South Bend’s police force being predominantly white after an officer involved fatal shooting of a black man. “Because I couldn’t get it done, ” he said when asked about the apparent disparity. He also made it clear he does not support free college for all, a policy proposal supported by many of his fellow Democrats.

Following the debate, some candidates announced they had one of their best fundraising days since their declaration to run for president.

Harris, after battling Biden on his prior work with segregationists while he was a member of the U.S. Senate, raised $2 million in online contributions in the 24 hours after the event, her campaign spokesman said. It represented their best day of online contributions since the start of her campaign, he added.

Biden’s team also said it had a great run of digital fundraising post the debate but have yet to release their top line figures.

All of the candidates were required by the Federal Election Commission to close their fundraising books on Sunday. The deadline to file is July 15.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: brian schwartz
Keywords: news, cnbc, companies, momentum, quarter, president, debate, second, house, million, white, run, fundraising, gains, south, democratic, campaign, pete, buttigieg, raises


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post