House passes bill to hike the federal minimum wage to $15 per hour

The House passed a bill Thursday to hike the federal minimum wage to $15 per hour in a win for liberal activists who have long pushed to give low-wage workers a raise. Congress last raised the federal minimum wage to $7.25 per hour about a decade ago. Now, 29 states and Washington D.C. have higher pay floors than the U.S., while seven states have approved $15 per hour minimum wages. An amendment adopted Thursday, proposed by Rep. Tom O’Halleran, requires a Government Accountability Office report


The House passed a bill Thursday to hike the federal minimum wage to $15 per hour in a win for liberal activists who have long pushed to give low-wage workers a raise. Congress last raised the federal minimum wage to $7.25 per hour about a decade ago. Now, 29 states and Washington D.C. have higher pay floors than the U.S., while seven states have approved $15 per hour minimum wages. An amendment adopted Thursday, proposed by Rep. Tom O’Halleran, requires a Government Accountability Office report
House passes bill to hike the federal minimum wage to $15 per hour Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jacob pramuk
Keywords: news, cnbc, companies, wage, federal, minimum, hike, raise, passes, pay, legislation, house, hour, 15, workers, bill, wages


House passes bill to hike the federal minimum wage to $15 per hour

Speaker of the House Rep. Nancy Pelosi (D-CA) holds up seven-year-old Kassidy Durham of Durham, North Carolina, during a news conference prior to a vote on the Raise the Wage Act July 18, 2019 at the U.S. Capitol in Washington, DC.

The House passed a bill Thursday to hike the federal minimum wage to $15 per hour in a win for liberal activists who have long pushed to give low-wage workers a raise.

The Democratic-held chamber passed the plan in a 231-199 vote. Six Democrats opposed it, while three Republicans supported it.

The measure would gradually hike the U.S. pay floor to $15 by 2025, then index further hikes to median wage growth. It would also phase out lower minimum wage paid to tipped workers.

House Democrats view the legislation as a core piece of their agenda to boost pay and economic growth. As President Donald Trump runs for reelection in 2020, the party argues strong economic growth and a roaring stock market have not done enough to lift the workers who most need relief.

“I commend my colleagues for taking this important step towards creating an economy that works for everyone,” said Rep. Bobby Scott, a Virginia Democrat who introduced the legislation, in a statement. “Now, Senate Republicans must decide to either stand with American workers or turn their backs on hardworking people across the country.”

Congress last raised the federal minimum wage to $7.25 per hour about a decade ago. Now, 29 states and Washington D.C. have higher pay floors than the U.S., while seven states have approved $15 per hour minimum wages. Those increases have boosted pay for the working class despite the federal inaction.

The bill has little chance of becoming law before next November’s election. Senate Majority Leader Mitch McConnell has no plans to bring the legislation up in his chamber. On Thursday, he told Fox Business Network that it would “depress the economy at a time of economic boom,” adding, “we’re not going to be doing that in the Senate.”

The White House also warned this week that Trump would veto the measure if it came to his desk. The Trump administration argued its policies are “driving economic growth and increasing workers’ take-home pay far more effectively and efficiently” than the Democratic plan. The White House contended it would “eliminate jobs and reduce total wages for American workers.”

In an analysis earlier this month, the nonpartisan Congressional Budget Office estimated the bill would give 17 million U.S. workers a raise — and could lift wages for millions more. It would also boost the annual income of 1.3 million people above the poverty level.

At the same time, the measure would cause about 1.3 million Americans to lose jobs, according to the CBO. It would also “reduce business income and raise prices” as companies pass on higher labor costs, the CBO said.

Here are the main pieces of the Raise the Wage Act:

It would increase the federal pay floor to $15 per hour by 2025, then index future increase to median wage gains.

The minimum wage hikes would take effect on the following schedule: $8.40 in 2019, $9.50 in 2020, $10.60 in 2021, $11.70 in 2022, $12.80 in 2023, $13.90 in 2024 and $15 in 2025.

It would eventually drop the lower minimum wage for tipped workers.

The bill would eliminate a seldom used pay floor for teen workers that pays them less than the minimum wage.

It would also toss out subminimum wages for workers with disabilities.

An amendment adopted Thursday, proposed by Rep. Tom O’Halleran, requires a Government Accountability Office report on the effects of minimum wage increases. House and Senate committees could use the report to recommend changes to curb any negative effects of the bill.

Activists such as Fight for $15, a movement started by striking fast food workers, helped to spur $15 per hour minimum wage laws around the country. In a tweet, the group said: “Organizing workers. Strikes work. We’re not even close to done!”

RaiseTheWageNow

Some major business groups opposed the legislation. Sean Kennedy, executive vice president of public affairs at the National Restaurant Association, which represents more than 500,000 restaurant businesses, called it “the wrong wage at the wrong time, implemented in the wrong way.”

National Federation of Independent Business President and CEO Juanita Duggan also called the plan a “devastating blow to small business.”

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Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jacob pramuk
Keywords: news, cnbc, companies, wage, federal, minimum, hike, raise, passes, pay, legislation, house, hour, 15, workers, bill, wages


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European banking stocks are ready for a rebound, Barclays strategists say

European banks are finally showing signs of recovery and investors should be looking to reduce their bearish positioning in the beleaguered sector, according to Barclays strategists. In a note published Wednesday, Barclays’ European banking and European equity teams projected that the stabilization of euro zone economic data and bond yields may bolster the banks, which have the most positive correlation to these two metrics of all European sectors. It added that in the meantime, bond yields and


European banks are finally showing signs of recovery and investors should be looking to reduce their bearish positioning in the beleaguered sector, according to Barclays strategists. In a note published Wednesday, Barclays’ European banking and European equity teams projected that the stabilization of euro zone economic data and bond yields may bolster the banks, which have the most positive correlation to these two metrics of all European sectors. It added that in the meantime, bond yields and
European banking stocks are ready for a rebound, Barclays strategists say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: elliot smith
Keywords: news, cnbc, companies, strategists, say, rebound, european, barclays, note, showing, banking, ready, yields, sector, zone, bond, past, stocks, banks


European banking stocks are ready for a rebound, Barclays strategists say

European banks are finally showing signs of recovery and investors should be looking to reduce their bearish positioning in the beleaguered sector, according to Barclays strategists.

In a note published Wednesday, Barclays’ European banking and European equity teams projected that the stabilization of euro zone economic data and bond yields may bolster the banks, which have the most positive correlation to these two metrics of all European sectors.

“Euro zone composite PMI (purchasing managers’ index) is stabilizing and the key domestic drivers of activity are well oriented,” the note stated.

It added that in the meantime, bond yields and inflation expectations are “trying to find a floor,” which gives a breather to value stocks, those which trade at a lower price relative to their fundamentals.

On top of this, the Italian government is “showing some fiscal discipline” and the European Central Bank (ECB) has opened the door to new quantitative easing while “seeking to mitigate the drag from negative rates on banks.”

European banks suffered a sharp sell-off in the second quarter of 2019, shedding more than 13% over the past three months, and are down 18.64% over the past year.

However, they have begun to rebound slightly in recent weeks, gaining 5% over the past 30 days, and though consensus has the European banking sector at an underweight position, Barclays is maintaining an equal weight.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: elliot smith
Keywords: news, cnbc, companies, strategists, say, rebound, european, barclays, note, showing, banking, ready, yields, sector, zone, bond, past, stocks, banks


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CrowdStrike stock jumps after beating expectations in its first earnings report

GOP vote on Trump’s “go back” comments was an effort to absolve… They also voted to absolve themselves, their party and the voters who elected them – like the ones Trump inspired to chant “send her back” at a rally Wednesday in North… Politicsread more


GOP vote on Trump’s “go back” comments was an effort to absolve… They also voted to absolve themselves, their party and the voters who elected them – like the ones Trump inspired to chant “send her back” at a rally Wednesday in North… Politicsread more
CrowdStrike stock jumps after beating expectations in its first earnings report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: kate fazzini annie palmer, kate fazzini, annie palmer
Keywords: news, cnbc, companies, rally, vote, voted, stock, party, jumps, earnings, report, voters, expectations, trump, ones, northpoliticsread, send, crowdstrike, trumps, beating


CrowdStrike stock jumps after beating expectations in its first earnings report

GOP vote on Trump’s “go back” comments was an effort to absolve…

They also voted to absolve themselves, their party and the voters who elected them – like the ones Trump inspired to chant “send her back” at a rally Wednesday in North…

Politics

read more


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: kate fazzini annie palmer, kate fazzini, annie palmer
Keywords: news, cnbc, companies, rally, vote, voted, stock, party, jumps, earnings, report, voters, expectations, trump, ones, northpoliticsread, send, crowdstrike, trumps, beating


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Ron Insana: Digitize the dollar faster and end the frenzy for fake money

To the Treasury Department and the Federal Reserve: Please formally digitize the dollar and put an end to all this crypto-craziness. We have a token that already is a medium of exchange, storehouse of value and unit of account. They are not backed by anything, despite the complaints of crypto-enthusiasts who decry the use of fiat money. There are no currencies, save for those of failed states, that have less “backing” than bitcoin, Libra, ethereum, etc. (A record $13 trillion of global sovereign


To the Treasury Department and the Federal Reserve: Please formally digitize the dollar and put an end to all this crypto-craziness. We have a token that already is a medium of exchange, storehouse of value and unit of account. They are not backed by anything, despite the complaints of crypto-enthusiasts who decry the use of fiat money. There are no currencies, save for those of failed states, that have less “backing” than bitcoin, Libra, ethereum, etc. (A record $13 trillion of global sovereign
Ron Insana: Digitize the dollar faster and end the frenzy for fake money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: ron insana
Keywords: news, cnbc, companies, insana, money, digitize, ron, debt, end, dollar, yield, pay, department, bitcoin, trillion, frenzy, faster, making, libra, fake, treasury


Ron Insana: Digitize the dollar faster and end the frenzy for fake money

To the Treasury Department and the Federal Reserve: Please formally digitize the dollar and put an end to all this crypto-craziness.

This bitcoin BS and Libra lunacy should stop.

We have a token that already is a medium of exchange, storehouse of value and unit of account. It’s called the dollar. And, quite frankly, it’s already largely been digitized.

How often does payroll department drop by your desk and leave a check?

Hardly ever anymore. Your pay is directly deposited into your bank account form which you may sometimes withdraw cash or coin.

More often than not, you use a debit/credit card to buy goods and services or pay your bills by automatic electronic transfer. That’s digital design.

The world doesn’t need a new currency, crypto or otherwise, to replace the U.S. dollar.

It’s true that the cost of all financial transactions needs to come down and that more efficiencies are needed to speed up transaction times.

Cryptocurrencies are not created more quickly than dollars. They are not backed by anything, despite the complaints of crypto-enthusiasts who decry the use of fiat money. There are no currencies, save for those of failed states, that have less “backing” than bitcoin, Libra, ethereum, etc.

The U.S. dollar is backed by not just a $20 trillion economy, but by the assets owned by the U.S. government and by Treasury securities that carry a positive yield, making U.S. debt a haven for investors seeking a return on cash.

(A record $13 trillion of global sovereign debt carries a negative yield, again, making the dollar, and dollar-denominated assets, an attractive place in which to invest.)


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: ron insana
Keywords: news, cnbc, companies, insana, money, digitize, ron, debt, end, dollar, yield, pay, department, bitcoin, trillion, frenzy, faster, making, libra, fake, treasury


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Fed’s Williams hints at more aggressive rate cuts: ‘Better to take preventative measures’

Central bankers need to act quickly and forcefully when rates are low and economic growth is slowing, New York Federal Reserve President John Williams said Thursday. But not when interest rates are in the vicinity of the ZLB,” he said in prepared remarks. However, he said that when faced with low rates and slowing growth, the best strategy is to “take swift action” and “keep interest rates lower for longer.” “The expectation of lower interest rates in the future lowers yields on bonds and thereb


Central bankers need to act quickly and forcefully when rates are low and economic growth is slowing, New York Federal Reserve President John Williams said Thursday. But not when interest rates are in the vicinity of the ZLB,” he said in prepared remarks. However, he said that when faced with low rates and slowing growth, the best strategy is to “take swift action” and “keep interest rates lower for longer.” “The expectation of lower interest rates in the future lowers yields on bonds and thereb
Fed’s Williams hints at more aggressive rate cuts: ‘Better to take preventative measures’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jeff cox
Keywords: news, cnbc, companies, better, zlb, lower, measures, feds, interest, cut, hints, rate, economic, central, rates, low, zero, williams, aggressive, preventative, growth, cuts


Fed's Williams hints at more aggressive rate cuts: 'Better to take preventative measures'

Central bankers need to act quickly and forcefully when rates are low and economic growth is slowing, New York Federal Reserve President John Williams said Thursday.

The influential policymaker delivered a speech discussing what should be done when central banks are near the “zero lower bound,” or close to as low as rates can go.

“It’s better to take preventative measures than to wait for disaster to unfold,” he told the annual meeting of the Central Bank Research Association.

Rather than keep rates elevated to give central banks room to cut in the face of a crisis, Williams said the proper move is not to “keep your powder dry.”

“When the ZLB is nowhere in view, one can afford to move slowly and take a ‘wait and see’ approach to gain additional clarity about potentially adverse economic developments. But not when interest rates are in the vicinity of the ZLB,” he said in prepared remarks. “In that case, you want to do the opposite, and vaccinate against further ills. When you only have so much stimulus at your disposal, it pays to act quickly to lower rates at the first sign of economic distress.”

Williams spoke as the policymaking Federal Open Market Committee is expected to cut its benchmark interest rate during the July 30-31 meeting. Officials are worried about persistently low inflation, spillover from a global slowdown and the fallout from back-and-forth tariffs between the U.S. and China.

The Fed currently pegs the overnight funds rate in a range between 2.25% and 2.5% — above zero, but still well below normal levels that have prevailed during past economic expansions.

Williams did not directly address whether he favors a cut, though markets are pricing in a 100% chance of a quarter-point reduction and a 38% probability that the Fed might cut by half a point, according to the CME.

However, he said that when faced with low rates and slowing growth, the best strategy is to “take swift action” and “keep interest rates lower for longer.”

“The expectation of lower interest rates in the future lowers yields on bonds and thereby fosters more favorable financial conditions overall. This will allow the stimulus to pick up steam, support economic growth over the medium term, and allow inflation to rise,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jeff cox
Keywords: news, cnbc, companies, better, zlb, lower, measures, feds, interest, cut, hints, rate, economic, central, rates, low, zero, williams, aggressive, preventative, growth, cuts


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Ex-Defense chief: Google has a duty to the US, not China, to ‘take our values to the battlefield’

Former Obama Defense Secretary Ash Carter told CNBC on Thursday that if Alphabet’s Google is working in China, it may be unknowingly working for the Chinese military. However, Google, whose search engine remains blocked in China, has continued to grow its AI center in Shanghai. “Google refused to work for the Pentagon on artificial intelligence,” Clarke told CNBC on Wednesday. On Monday, Joe Lonsdale told CNBC that his fellow Palantir co-founder Thiel was “courageous” for speaking out against Go


Former Obama Defense Secretary Ash Carter told CNBC on Thursday that if Alphabet’s Google is working in China, it may be unknowingly working for the Chinese military. However, Google, whose search engine remains blocked in China, has continued to grow its AI center in Shanghai. “Google refused to work for the Pentagon on artificial intelligence,” Clarke told CNBC on Wednesday. On Monday, Joe Lonsdale told CNBC that his fellow Palantir co-founder Thiel was “courageous” for speaking out against Go
Ex-Defense chief: Google has a duty to the US, not China, to ‘take our values to the battlefield’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, values, duty, work, chief, told, intelligence, going, china, google, thiels, thiel, exdefense, battlefield, working


Ex-Defense chief: Google has a duty to the US, not China, to 'take our values to the battlefield'

Former Obama Defense Secretary Ash Carter told CNBC on Thursday that if Alphabet’s Google is working in China, it may be unknowingly working for the Chinese military.

“If you’re working in China, you don’t know whether you’re working on a project for the military or not,” said Carter, whose decadeslong government career also included advisory roles to Republican presidents.

“There is a duty to this country,” he added. “We’re in debt to the society that we live in.”

Carter was responding to tech investor Peter Thiel’s calls for a government investigation into Google for its “seemingly treasonous decision to work with the Chinese military and not with the U.S. military.”

President Donald Trump tweeted Tuesday that his administration will “take a look” into Thiel’s claims. Thiel was a supporter of Trump’s 2016 presidential campaign. Google has denied working with the Chinese military.

Refusing to go as far as Thiel’s “seemingly treasonous” characterization, Carter told “Squawk Box” that Google made a “mistake” in not advancing its work with the Pentagon.

Google’s contract with the Defense Department, which focused on artificial intelligence, expired earlier this year, and it was not renewed. However, Google, whose search engine remains blocked in China, has continued to grow its AI center in Shanghai.

Carter’s comments echoed those of former Obama White House cybersecurity chief Richard Clarke, who said Thiel was right to call out Google.

“Google refused to work for the Pentagon on artificial intelligence,” Clarke told CNBC on Wednesday. “If you turn around and you work on artificial intelligence in China, and you don’t really know what they’re going to do with that, I think there’s an issue.”

Clarke also was White House counterterrorism coordinator under Presidents Bill Clinton and George W. Bush.

On Monday, Joe Lonsdale told CNBC that his fellow Palantir co-founder Thiel was “courageous” for speaking out against Google.

“Google is not a patriotic company, ” said Lonsdale, also a founding partner of technology investment firm 8VC. “When Google made the choice, ‘We’re not going to help the U.S., but we’re going to continue to work in China,’ it was very clear.”


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, values, duty, work, chief, told, intelligence, going, china, google, thiels, thiel, exdefense, battlefield, working


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Analysts stick by plunging Netflix shares, see comeback this quarter driven by ‘Stranger Things’

Wall Street analysts were urging clients to remain calm in the wake of Netflix’s disappointing earnings report. The company said Wednesday after the bell that it only added 2.7 million global subscribers in the second quarter while Wall Street expected the number to be closer to 5 million. Many analysts are already predicting the streaming giant will bounce back in the third quarter, anchored by its original show, “Stranger Things.” Strong content is still going to be the backbone for Netflix dr


Wall Street analysts were urging clients to remain calm in the wake of Netflix’s disappointing earnings report. The company said Wednesday after the bell that it only added 2.7 million global subscribers in the second quarter while Wall Street expected the number to be closer to 5 million. Many analysts are already predicting the streaming giant will bounce back in the third quarter, anchored by its original show, “Stranger Things.” Strong content is still going to be the backbone for Netflix dr
Analysts stick by plunging Netflix shares, see comeback this quarter driven by ‘Stranger Things’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: michael bloom
Keywords: news, cnbc, companies, shares, quarter, netflix, analysts, comeback, strong, stranger, netflixs, street, subscriber, driven, stick, plunging, slate, wall, things


Analysts stick by plunging Netflix shares, see comeback this quarter driven by 'Stranger Things'

Wall Street analysts were urging clients to remain calm in the wake of Netflix’s disappointing earnings report.

The company said Wednesday after the bell that it only added 2.7 million global subscribers in the second quarter while Wall Street expected the number to be closer to 5 million. It also reported an unexpected loss in U.S. subscribers.

Shares of Netflix were down more than 10% to $323.24 in midmorning trading Thursday.

Many analysts are already predicting the streaming giant will bounce back in the third quarter, anchored by its original show, “Stranger Things.”

“Early 3Q trends are strong, led by Stranger Things S3, & we believe churn rates have receded closer to pre-price increase levels,” J.P. Morgan analyst Doug Anmuth said.

Strong content is still going to be the backbone for Netflix driving subscriber growth going forward, analysts say.

“Conversely, in 2H’19, there should be a positive impact from an improving slate and we are, therefore, optimistic about the company’s opportunity to grow subscriber additions y/y in a FY basis,” said Piper Jaffray’s Michael Olson.

“Some will say this miss suggests maturation or lack of pricing power; we see neither. We would note Netflix misses have been followed by strong qtrs, and, along those lines, we expect Netflix’s very strong 2H slate will lead to a rebound in sub growth,” Credit Suisse analysts said.

In fact, the second quarter has traditionally been rough, according to analysts at Raymond James.

“The reality is 2Q has been a tough quarter for three of the past four years, and it’s likely a combination of factors driving softness,” they said.

“It will likely take strong results over the next two quarters to refute these controversies and drive a more meaningful move higher.”

Here’s what else the major analysts are saying about Netflix’s earnings report:


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: michael bloom
Keywords: news, cnbc, companies, shares, quarter, netflix, analysts, comeback, strong, stranger, netflixs, street, subscriber, driven, stick, plunging, slate, wall, things


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Microsoft has a clear path 15% higher from here, technician says

The tech giant is reporting earnings after the bell Thursday, and one technician sees a breakout ahead. Microsoft has surged 34% this year, outpacing the XLK technology ETF’s 30% gain and the S&P 500’s 19% advance. It would need to fall nearly 4% to return to Stockton’s $131 support level. Nancy Tengler, chief investment strategist at Butcher Joseph Asset Management, said the fundamentals also support more upside for Microsoft. Analysts anticipate 7% increase in earnings and 9% sales growth for


The tech giant is reporting earnings after the bell Thursday, and one technician sees a breakout ahead. Microsoft has surged 34% this year, outpacing the XLK technology ETF’s 30% gain and the S&P 500’s 19% advance. It would need to fall nearly 4% to return to Stockton’s $131 support level. Nancy Tengler, chief investment strategist at Butcher Joseph Asset Management, said the fundamentals also support more upside for Microsoft. Analysts anticipate 7% increase in earnings and 9% sales growth for
Microsoft has a clear path 15% higher from here, technician says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: keris lahiff
Keywords: news, cnbc, companies, higher, stock, tengler, path, support, technician, clear, 131, uptrend, reporting, growth, microsoft, 15, sales, upside


Microsoft has a clear path 15% higher from here, technician says

Microsoft, the world’s largest publicly traded company, could get even bigger.

The tech giant is reporting earnings after the bell Thursday, and one technician sees a breakout ahead.

“Microsoft is really a momentum story and has been for more than several months now. It’s a long-term uptrend, it’s an intermediate term uptrend,” said Katie Stockton, founder of Fairlead Strategies, on CNBC’s “Trading Nation” on Wednesday.

Microsoft has surged 34% this year, outpacing the XLK technology ETF’s 30% gain and the S&P 500’s 19% advance. It has nearly doubled in value over the past two years.

“The stock, of course, having been where it has been, has a lot of support. Initially, it’s right around $131. It doesn’t mean it has to get back to that level, but it certainly would be very safe, in terms of preserving its uptrend on a pullback of that magnitude,” said Stockton.

The stock broke above $131 in early June and has held above $135 this month. It would need to fall nearly 4% to return to Stockton’s $131 support level.

“The last breakout that we had from Microsoft on the chart yielded a very aggressive, and maybe too aggressive, long-term target of about $156 for Microsoft — so, that shows you potential upside when you don’t have any resistance left on a chart,” she added.

Microsoft would need to rally another 15% to reach $156. It would mark a fresh record for the stock.

Nancy Tengler, chief investment strategist at Butcher Joseph Asset Management, said the fundamentals also support more upside for Microsoft.

“We see the company hitting on all cylinders,” said Tengler. “Azure is growing at, you know, 70%-plus year over year. We expect them to beat this quarter. If you look at the surveys from customers, at the margin, business is moving to Microsoft away from Amazon. So, we think that is the primary source of the good news.”

Azure, Microsoft’s cloud computing platform, regularly reports double-digit revenue growth. In its most recent reporting stretch, ending March, Azure sales grew by 73%, the strongest growth of all its product and service segments.

“We still like this stock. It’s one of our largest holdings, and we’ve been trimming it as it continues to appreciate, but it still represents almost 5% of our holdings,” said Tengler.

Analysts anticipate 7% increase in earnings and 9% sales growth for its fourth quarter, ended June, according to FactSet estimates.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: keris lahiff
Keywords: news, cnbc, companies, higher, stock, tengler, path, support, technician, clear, 131, uptrend, reporting, growth, microsoft, 15, sales, upside


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Google suspends Viagogo from advertising over trust concerns

Ticket resales company Viagogo has been suspended from advertising globally on Google’s search engine. Google took action on Thursday after concluding that the Swiss firm was in breach of its advertising policy, basing its decision on advice from advertising regulators. While Viagogo will not be able to advertise on Google, its suspension will not apply to organic search results. Google told CNBC via email that it would be suspending advertisements from Viagogo from Thursday. Cris Miller, Managi


Ticket resales company Viagogo has been suspended from advertising globally on Google’s search engine. Google took action on Thursday after concluding that the Swiss firm was in breach of its advertising policy, basing its decision on advice from advertising regulators. While Viagogo will not be able to advertise on Google, its suspension will not apply to organic search results. Google told CNBC via email that it would be suspending advertisements from Viagogo from Thursday. Cris Miller, Managi
Google suspends Viagogo from advertising over trust concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: chloe taylor
Keywords: news, cnbc, companies, breach, trust, tickets, viagogo, concerns, told, ticket, google, policies, googles, suspends, company, advertising


Google suspends Viagogo from advertising over trust concerns

Ticket resales company Viagogo has been suspended from advertising globally on Google’s search engine.

Google took action on Thursday after concluding that the Swiss firm was in breach of its advertising policy, basing its decision on advice from advertising regulators. While Viagogo will not be able to advertise on Google, its suspension will not apply to organic search results.

The U.K.’s Competition and Markets Authority (CMA) announced earlier this month that it was moving forward with legal proceedings against Viagogo. The company faces contempt of court charges for allegedly failing to comply with a court order that demanded it overhaul its practices.

According to the CMA, Viagogo has not done enough to alter the way it sells products, and therefore is in breach of U.K. consumer protection law. It accused the company of using misleading ticket availability messages, failing to warn people that certain tickets may not guarantee entry to an event, and not displaying seat numbers for some tickets.

Google told CNBC via email that it would be suspending advertisements from Viagogo from Thursday.

“When people use our platform for help in purchasing tickets, we want to make sure that they have an experience they can trust,” a spokesperson from Google said. “This is why we have strict policies and take necessary action when we find an advertiser in breach.”

Cris Miller, Managing Director of Viagogo, told CNBC on Thursday that the firm was “extremely surprised” to learn of Google’s concerns.

“We are confident that there has been no breach of Google’s policies and look forward to working with them to resolve this as quickly as possible,” he said via email.

In early 2018, Google updated its policies to ensure that resellers could not claim to be official ticket vendors, and resellers must now provide a breakdown of ticket prices across fees and taxes before payments are taken.

Last year, Google removed 2.3 billion adverts found to be in breach of its policies or the law.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: chloe taylor
Keywords: news, cnbc, companies, breach, trust, tickets, viagogo, concerns, told, ticket, google, policies, googles, suspends, company, advertising


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GOP vote on Trump’s ‘go back’ comments was an effort to absolve him — and themselves — on racism

President Donald Trump speaks in the Oval Office of the White House in Washington, July 1, 2019. With their votes this week, House Republicans absolved President Donald Trump of racism in calling for four non-white lawmakers to “go back” to other countries. “They’re being asked to condemn an element of the coalition,” said Carlos Curbelo, a Republican House member from Miami until a Democrat defeated him in 2018 midterm elections. ‘, they don’t want to do that,” says former House GOP leadership


President Donald Trump speaks in the Oval Office of the White House in Washington, July 1, 2019. With their votes this week, House Republicans absolved President Donald Trump of racism in calling for four non-white lawmakers to “go back” to other countries. “They’re being asked to condemn an element of the coalition,” said Carlos Curbelo, a Republican House member from Miami until a Democrat defeated him in 2018 midterm elections. ‘, they don’t want to do that,” says former House GOP leadership
GOP vote on Trump’s ‘go back’ comments was an effort to absolve him — and themselves — on racism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: john harwood
Keywords: news, cnbc, companies, gop, comments, vote, effort, president, white, republican, party, 2016, absolve, house, trump, racism, change, trumps, republicans


GOP vote on Trump's 'go back' comments was an effort to absolve him — and themselves — on racism

President Donald Trump speaks in the Oval Office of the White House in Washington, July 1, 2019.

With their votes this week, House Republicans absolved President Donald Trump of racism in calling for four non-white lawmakers to “go back” to other countries.

But not only Trump.

They also voted to absolve themselves, their party and the voters who elected them – like the ones who chanted “send her back” at a rally Wednesday in North Carolina. It took more than just fealty to the president to unite 187 of 191 Republicans against condemning his words.

Analysts across the political spectrum typically cite raw fear as why GOP leaders don’t challenge Trump over behavior that outrages most Americans. Rock-solid support within his party, they argue, means the president can end the careers of Republican dissidents.

“I think he’s racist,” said Mickey Edwards, a Reagan-era GOP lawmaker who once chaired the American Conservative Union. But “a relatively small number of Republicans” share Trump’s racial views, Edwards added, and simple “cowardice” explains the party’s refusal to denounce them.

Yet this week’s furor implicates the character and reputation of many others besides the president. Denouncing Trump’s words as racist, as the House Democratic majority voted to do, means denouncing those chanting rally audiences that all GOP candidates depend on.

“They’re being asked to condemn an element of the coalition,” said Carlos Curbelo, a Republican House member from Miami until a Democrat defeated him in 2018 midterm elections. For a Republican elected official, the blowback would dwarf what Hillary Clinton suffered in 2016 after calling some Trump supporters “deplorables.”

That element of the coalition looms so large because of how the two parties have evolved over the last half-century. After national Democrats decisively embraced the civil rights movement, white conservatives flocked to the GOP, polarizing American politics along racial and partisan lines as well as ideological ones.

That realignment fueled incendiary culture clashes over crime, welfare, affirmation action and immigration long before 2016. Trump accuses Rep. Ilhan Omar, D-Minn., of hating America, offering her as a symbol of Democratic radicalism; three decades before, George H.W. Bush’s Republican presidential campaign vowed to make black criminal Willie Horton the Democratic “running mate,” and sought to suggest superior patriotism by appearing at a flag factory.

Those clashes have grown harder for Republicans to win as education levels rise, attitudes change and non-whites swell as a share of America’s population. And they’ve consistently placed Republicans of whatever motivation – ideological or personal, economic or cultural, foreign policy or domestic affairs – on the defensive.

“Reagan conservatives like me have been called racists – falsely and maliciously – all of our lives,” National Review editor Jay Nordlinger said on Twitter today.

But Trump brings the question about his party into sharper focus than Reagan, Bush or Richard Nixon ever did.

Studies have shown that white populations with the strongest feelings of racial resentment – disproportionately less-educated, lower-income religious conservatives — propelled his 2016 campaign from the start. As president, he has abandoned the decorum of Republican predecessors and stoked their resentments.

Now, GOP lawmakers who have surfed overlapping currents to power fear that acknowledging Trump crossed the line would acknowledge that the rest of the party has, too.

“Whether it’s because they’re pointing the finger at themselves, or someone else saying ‘Aha!’, they don’t want to do that,” says former House GOP leadership aide Doug Heye.

By condemning Trump, “they’re condemning themselves,” adds former GOP House member Vin Weber. “They feel it validates the criticism that’s come their way for a lot of things.”

Weber, who once joined his ally Newt Gingrich in rallying the Republican right behind the “Conservative Opportunity Society,” calls some of that criticism justified. “Racism is a part of it,” he says, though “not all or even primarily.”

But it’s becoming a louder part as America draws closer to the day when white people no longer represent a majority of the population. Census officials expect it to happen by mid-century.

That demographic reality led national Republican leaders in 2013 to call for courting non-whites – and also young, female and gay voters — with a “more inclusive and welcoming” message. Trump won in 2016 with the opposite approach, and aims to do it again in 2020.

That would only delay the reckoning with societal change that the GOP sidestepped again by standing behind Trump this week.

“Parties change or evolve when they’re forced to change,” said Curbelo, a Miami-born Cuban-American. “All Republican leaders understand this is the path we have to pursue. There’s no other way.”

WATCH: Crowds chant ‘send her back’ at Trump campaign rally


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: john harwood
Keywords: news, cnbc, companies, gop, comments, vote, effort, president, white, republican, party, 2016, absolve, house, trump, racism, change, trumps, republicans


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