Chip stocks surge on China trade war truce and reprieve from the Huawei ban

More than 8 million homeowners leaving big money on the table by…Mortgage rates have been on a roller coaster for the last year, but now they’re sitting at the bottom of the track, and that is giving a major boost to the number of borrowers…Real Estateread more


More than 8 million homeowners leaving big money on the table by…Mortgage rates have been on a roller coaster for the last year, but now they’re sitting at the bottom of the track, and that is giving a major boost to the number of borrowers…Real Estateread more
Chip stocks surge on China trade war truce and reprieve from the Huawei ban Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: michael sheetz
Keywords: news, cnbc, companies, sitting, china, surge, rates, reprieve, chip, war, stocks, track, trade, table, truce, huawei, million, roller, number, money, major, theyre, ban


Chip stocks surge on China trade war truce and reprieve from the Huawei ban

More than 8 million homeowners leaving big money on the table by…

Mortgage rates have been on a roller coaster for the last year, but now they’re sitting at the bottom of the track, and that is giving a major boost to the number of borrowers…

Real Estate

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Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: michael sheetz
Keywords: news, cnbc, companies, sitting, china, surge, rates, reprieve, chip, war, stocks, track, trade, table, truce, huawei, million, roller, number, money, major, theyre, ban


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Huawei CEO downplays expected $30 billion revenue miss due to the Trump administration ban

Huawei CEO and founder Ren Zhengfei on Wednesday downplayed the impact of the U.S. ban on the company, just days after company said it expected $30 billion less revenue for the year. He also said Huawei’s consumer business is still strong in China. “I don’t see that problem, because in the Chinese market, the consumer business has not seen a decline,” Ren said. As I look at the declines in the consumer business, that would be about 10% roughly, so it’s not that big.” The Trump administration inv


Huawei CEO and founder Ren Zhengfei on Wednesday downplayed the impact of the U.S. ban on the company, just days after company said it expected $30 billion less revenue for the year. He also said Huawei’s consumer business is still strong in China. “I don’t see that problem, because in the Chinese market, the consumer business has not seen a decline,” Ren said. As I look at the declines in the consumer business, that would be about 10% roughly, so it’s not that big.” The Trump administration inv
Huawei CEO downplays expected $30 billion revenue miss due to the Trump administration ban Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: steve kovach
Keywords: news, cnbc, companies, ceo, billion, consumer, administration, ren, zhengfei, downplays, trump, huawei, expected, revenue, ban, miss, company, system, business


Huawei CEO downplays expected $30 billion revenue miss due to the Trump administration ban

Huawei CEO and founder Ren Zhengfei on Wednesday downplayed the impact of the U.S. ban on the company, just days after company said it expected $30 billion less revenue for the year.

In the interview with CNBC’s Deirdre Bosa, Ren said the slashed revenue forecast isn’t a concern since the company will still book more than $100 billion in revenue this year, which would be roughly flat versus 2018. He also said Huawei’s consumer business is still strong in China. The main problem is the overseas business, he said.

“I don’t see that problem, because in the Chinese market, the consumer business has not seen a decline,” Ren said. “It’s just that there might be declines overseas. In the worst case, 40%, but now it’s less than 20%. And that kind of decline is also changing. As I look at the declines in the consumer business, that would be about 10% roughly, so it’s not that big.”

But Ren did not give a clear explanation for how Huawei plans to make up for the decreased demand for its products following the U.S. ban, which the company says is expected to continue over the next two years.

“We are making adjustments internally so we project there might be a slowdown, but until yesterday’s report I didn’t see any slowdown,” Ren said. “And we don’t know what will be the growth by the end of the year. But we believe the $30 billion U.S. will be a very small thing.”

The Huawei ban affects the company’s ability to ship smartphones running Google’s Android operating system. Google has said it will continue to provide security updates for current Huawei devices running Android, but the fate of future devices is still in limbo. Meanwhile, Huawei has said it has its own alternative operating system for smartphones in case it can no longer use Android.

The Trump administration invoked the ban, claiming Huawei poses a national security threat because of its ties to China’s ruling Communist Party.

WATCH: Zhengfei: The US ban on Huawei hurts the US and China


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: steve kovach
Keywords: news, cnbc, companies, ceo, billion, consumer, administration, ren, zhengfei, downplays, trump, huawei, expected, revenue, ban, miss, company, system, business


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US chipmakers are reportedly quietly lobbying to ease Huawei ban

Huawei’s American chip suppliers, including Qualcomm and Intel, are quietly pressing the U.S. government to ease its ban on sales to the Chinese tech giant, even as Huawei itself avoids typical government lobbying, people familiar with the situation said. The ban bars U.S. suppliers from selling to Huawei, the world’s largest telecommunications equipment company, without special approval, because of what the government said were national security issues. “For technologies that do not relate to n


Huawei’s American chip suppliers, including Qualcomm and Intel, are quietly pressing the U.S. government to ease its ban on sales to the Chinese tech giant, even as Huawei itself avoids typical government lobbying, people familiar with the situation said. The ban bars U.S. suppliers from selling to Huawei, the world’s largest telecommunications equipment company, without special approval, because of what the government said were national security issues. “For technologies that do not relate to n
US chipmakers are reportedly quietly lobbying to ease Huawei ban Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-17
Keywords: news, cnbc, companies, trade, ban, chinese, suppliers, reportedly, ease, quietly, security, intel, lobbying, chipmakers, selling, huawei, situation, technology


US chipmakers are reportedly quietly lobbying to ease Huawei ban

Huawei’s American chip suppliers, including Qualcomm and Intel, are quietly pressing the U.S. government to ease its ban on sales to the Chinese tech giant, even as Huawei itself avoids typical government lobbying, people familiar with the situation said.

Executives from top U.S. chipmakers Intel and Xilinx attended a meeting in late May with the Commerce Department to discuss a response to Huawei’s placement on the black list, one person said.

The ban bars U.S. suppliers from selling to Huawei, the world’s largest telecommunications equipment company, without special approval, because of what the government said were national security issues.

Qualcomm has also pressed the Commerce Department over the issue, four people said.

Chip makers argue that Huawei units selling products such as smartphones and computer servers use commonly available parts and are unlikely to present the same security concerns as the Chinese technology firm’s 5G networking gear, according to three people.

“This isn’t about helping Huawei. It’s about preventing harm to American companies,” one of the people said.

Out of $70 billion that Huawei spent buying components in 2018, some $11 billion went to U.S. firms including Qualcomm, Intel and Micron Technology Inc.

Qualcomm, for example, wants to be able to continue shipping chips to Huawei for common devices like phones and smart watches, a person familiar with the company’s situation said.

The Semiconductor Industry Association (SIA), a trade group, acknowledged it arranged consultations with the U.S. government on behalf of the companies to help them comply and brief officials on the impact of the ban on the companies.

“For technologies that do not relate to national security, it seems they shouldn’t fall within the scope of the order. And we have conveyed this perspective to government,” said Jimmy Goodrich, vice president of global policy at SIA.

The ban came soon after the breakdown of talks to end the months-long trade spat between China and the United States, spurred by U.S. allegations of Chinese corporate espionage, intellectual property theft and forced technology transfer.

Google, which sells hardware, software and technical services to Huawei, has also advocated so it can keep selling to the company, Huawei Chairman Liang Hua told reporters in China earlier this month.


Company: cnbc, Activity: cnbc, Date: 2019-06-17
Keywords: news, cnbc, companies, trade, ban, chinese, suppliers, reportedly, ease, quietly, security, intel, lobbying, chipmakers, selling, huawei, situation, technology


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White House says it will meet two-year deadline to ban business with Huawei contractors

The White House Office of Management and Budget has told the U.S. Congress it will now meet a two-year deadline to ban federal contracts with companies that do business with Chinese telecom giant Huawei, part of a defense law passed last year, according to a letter seen by Reuters. Last week the OMB had said it would need more time to implement the ban, which requires third-party suppliers and contractors to restrict their purchases and use of Huawei equipment. But the White House reversed cours


The White House Office of Management and Budget has told the U.S. Congress it will now meet a two-year deadline to ban federal contracts with companies that do business with Chinese telecom giant Huawei, part of a defense law passed last year, according to a letter seen by Reuters. Last week the OMB had said it would need more time to implement the ban, which requires third-party suppliers and contractors to restrict their purchases and use of Huawei equipment. But the White House reversed cours
White House says it will meet two-year deadline to ban business with Huawei contractors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13
Keywords: news, cnbc, companies, federal, vought, twoyear, congress, services, law, deadline, ban, meet, letter, defense, house, huawei, business, contractors, white


White House says it will meet two-year deadline to ban business with Huawei contractors

The White House Office of Management and Budget has told the U.S. Congress it will now meet a two-year deadline to ban federal contracts with companies that do business with Chinese telecom giant Huawei, part of a defense law passed last year, according to a letter seen by Reuters.

“Congress has made it clear in recent days the importance of implementing the law within the two years provided, and we will,” Russ Vought, the acting director of OMB, said in a letter to Senator James Inhofe, chairman of the Senate Armed Services Committee.

Last week the OMB had said it would need more time to implement the ban, which requires third-party suppliers and contractors to restrict their purchases and use of Huawei equipment.

But the White House reversed course after “recent conversations with Congress,” Vought said in the letter dated Wednesday.

“As we move forward to meet the statutory deadline without further delay, we will work with Congress to address any unforeseen issues that arise,” Vought said.

The ban is one part of a multifaceted U.S. push against Huawei Technologies, the world’s largest telecoms network gear maker, which Washington accuses of espionage and stealing intellectual property.

Huawei has repeatedly denied it is controlled by the Chinese government, military or intelligence services. It has filed a lawsuit against the U.S. government over the restrictions in the defense policy bill.

The defense law, called the National Defense Authorization Act (NDAA), placed a broad ban on the use of federal money to purchase products from Huawei, citing national security concerns.

It included a ban on direct federal purchases of Huawei equipment, which will take effect this year.


Company: cnbc, Activity: cnbc, Date: 2019-06-13
Keywords: news, cnbc, companies, federal, vought, twoyear, congress, services, law, deadline, ban, meet, letter, defense, house, huawei, business, contractors, white


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Former UN chief: A lack of political will is holding back climate goal achievements

A lack of political will is holding the world back from achieving international climate goals, Ban Ki-moon, the former United Nations secretary general, said Thursday. Ban said he urged political leaders to think as globally as possible. “We are now seeing many national leaders, but we don’t see many global leaders…(but) all the changes we are now seeing are global, requiring global solutions,” Ban told CNBC at the Ecosperity Conference in Singapore. “It’s a very serious phenomenon that will c


A lack of political will is holding the world back from achieving international climate goals, Ban Ki-moon, the former United Nations secretary general, said Thursday. Ban said he urged political leaders to think as globally as possible. “We are now seeing many national leaders, but we don’t see many global leaders…(but) all the changes we are now seeing are global, requiring global solutions,” Ban told CNBC at the Ecosperity Conference in Singapore. “It’s a very serious phenomenon that will c
Former UN chief: A lack of political will is holding back climate goal achievements Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: huileng tan
Keywords: news, cnbc, companies, united, achievements, world, seeing, chief, ban, president, trump, lack, political, goal, leaders, global, holding, climate


Former UN chief: A lack of political will is holding back climate goal achievements

A lack of political will is holding the world back from achieving international climate goals, Ban Ki-moon, the former United Nations secretary general, said Thursday.

Ban said he is “deeply concerned” by the 2017 decision of President Donald Trump’s administration to pull the U.S. out of the Paris climate deal, but he was hopeful that the country will reconsider its decision after Trump steps down.

“I am convinced that — whenever it may happen — after President Trump leaves the White House, I’m sure that his successor will have to come back and join this Paris climate agreement if they really want to demonstrate their global leadership,” said Ban, who is now president and chair at the Global Green Growth Institute, an inter-governmental organization.

Ban said he urged political leaders to think as globally as possible.

“We are now seeing many national leaders, but we don’t see many global leaders…(but) all the changes we are now seeing are global, requiring global solutions,” Ban told CNBC at the Ecosperity Conference in Singapore.

On the issue of multilateral cooperation, Ban said he was “deeply concerned.”

“It’s a very serious phenomenon that will cause (the) breaking down (of) all this unity and solidarity among world leaders particularly political leaders,” he said.

Even though there are conflicts now and then, international organizations such as the UN have prevented their escalation through mediation, peacekeeping operations and political negotiation, he said.

“I sincerely hope that those countries, particularly the United States and the European Union, who benefited most from this multinationalism should stand at the front and at the center to lead multilateralism, ” said Ban.


Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: huileng tan
Keywords: news, cnbc, companies, united, achievements, world, seeing, chief, ban, president, trump, lack, political, goal, leaders, global, holding, climate


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Botswana lifts 5-year ban on hunting elephants, pitting traders against preservationists

“Most of the countries surrounding Botswana allow [hunting] and many elephants have moved into Botswana because of the poaching in neighboring countries.” Safari Club International, a U.S.-based hunting group praised the government’s stance, claiming that lifting the ban would be good for wildlife. The Botswana government claims there has been an increase in human-elephant conflict — a consequence of the growing elephant population — and elephant-related damage to livestock. In Botswana elephant


“Most of the countries surrounding Botswana allow [hunting] and many elephants have moved into Botswana because of the poaching in neighboring countries.” Safari Club International, a U.S.-based hunting group praised the government’s stance, claiming that lifting the ban would be good for wildlife. The Botswana government claims there has been an increase in human-elephant conflict — a consequence of the growing elephant population — and elephant-related damage to livestock. In Botswana elephant
Botswana lifts 5-year ban on hunting elephants, pitting traders against preservationists Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: nadine el-bawab
Keywords: news, cnbc, companies, botswana, 5year, elephant, hunting, ban, elephants, wildlife, jones, international, pitting, ivory, lifts, population, traders, preservationists, communities


Botswana lifts 5-year ban on hunting elephants, pitting traders against preservationists

BOTSWANA – 2014/06/13: Female African elephant (Loxodonta africana) with baby in the Chitabe area of the Okavango Delta in the northern part of Botswana. (Photo by Wolfgang Kaehler/LightRocket via Getty Images)

Botswana’s government lifted a 5-year ban on elephant hunting on Thursday, spurring criticism from wildlife conservation groups who see the move as a step backward in protecting the population.

The reversal has tipped off international controversy over wildlife protection, economic stimulus and ivory trading.

Botswana has the highest elephant population of any African country, with an estimated population between 120,000 and 130,000, according to Mark Jones, a veterinarian and the head of policy at the Born Free Foundation, a global wildlife conservation charity.

Jones said trophy hunting is unlikely to have any real impact on the population’s numbers — but is likely to harm the animals themselves.

“Elephants are highly intelligent creatures and will move away from areas where they are in danger,” Jones said. “Most of the countries surrounding Botswana allow [hunting] and many elephants have moved into Botswana because of the poaching in neighboring countries.”

Safari Club International, a U.S.-based hunting group praised the government’s stance, claiming that lifting the ban would be good for wildlife.

“We thank the President of Botswana and all others involved in Botswana for their forward thinking and having the courage to bypass doing what is easy in order to do what is right for the benefit of the wildlife of Botswana and the people of Botswana,” said SCI President Paul Babaz in a statement. “They need to be able to manage their own wildlife so that there will be more wildlife in wild places in harmony with the people for generations to come.”

The Botswana government claims there has been an increase in human-elephant conflict — a consequence of the growing elephant population — and elephant-related damage to livestock.

In Botswana elephants are not confined to fenced reserves. That allows them to migrate freely over large distances throughout the country, and even cross over into neighboring countries.

“We are concerned that hunting causes extreme stress to elephants, which are intelligent, thinking, communicating animals. The elephants begin to associate humans with violence and they retaliate — hence the large number of human fatalities,” Paula Kahumbu, CEO of nonprofit Wildlife Direct, said in a statement.

Still, experts maintain hunting is not a credible method of population control or an effective means to combat higher rates of violence and damage.

There are more humane and legitimate ways to litigate the size of the population and prevent them from crossing into crop-fields. The use of chili or the introduction of beehives have proved to be effective in doing so, Jones said.

Officials also say the ban has caused local communities to suffer as a result of the loss of income from trophy hunters.

“Most of the money generated by hunting is captured by the state and by the hunting companies. Communities make very little gain – studies have shown that less than 2% of the funds generated by hunting reach communities,” Kahumbu said.

Moreover, Botswana is one of four African states proposing the decriminalization of commercial trade of ivory, which is outlawed under international law. “Poaching for ivory is the biggest single threat to elephants,” Jones said.

The U.S., U.K. and China have all outlawed ivory trade.

There were reports of a number of elephants being poached just last year, according to Jones, but allowing the sale of ivory to resume in some countries would stimulate hunting of the animals and put them in grave danger.

WATCH: How China could use its massive US debt holdings as a trade war weapon


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: nadine el-bawab
Keywords: news, cnbc, companies, botswana, 5year, elephant, hunting, ban, elephants, wildlife, jones, international, pitting, ivory, lifts, population, traders, preservationists, communities


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England will ban plastic stirrers, straws and cotton swabs from April 2020

A ban on plastic drinks stirrers, straws, and plastic-stemmed cotton swabs will come into force in England next April. “Urgent and decisive action is needed to tackle plastic pollution and protect our environment,” Environment Secretary Michael Gove said in a statement Wednesday. The ban follows on from a consultation which found that more than 80% of respondents supported a ban on the distribution and sale of plastic straws, with 90% backing a ban on drinks stirrers and 89% in favor of a ban on


A ban on plastic drinks stirrers, straws, and plastic-stemmed cotton swabs will come into force in England next April. “Urgent and decisive action is needed to tackle plastic pollution and protect our environment,” Environment Secretary Michael Gove said in a statement Wednesday. The ban follows on from a consultation which found that more than 80% of respondents supported a ban on the distribution and sale of plastic straws, with 90% backing a ban on drinks stirrers and 89% in favor of a ban on
England will ban plastic stirrers, straws and cotton swabs from April 2020 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: anmar frangoul
Keywords: news, cnbc, companies, cotton, straws, swabs, pollution, 2020, using, uk, england, stirrers, stores, plastic, ban


England will ban plastic stirrers, straws and cotton swabs from April 2020

A ban on plastic drinks stirrers, straws, and plastic-stemmed cotton swabs will come into force in England next April.

“Urgent and decisive action is needed to tackle plastic pollution and protect our environment,” Environment Secretary Michael Gove said in a statement Wednesday.

“These items are often used for just a few minutes but take hundreds of years to break down, ending up in our seas and oceans and harming precious marine life,” he added.

The ban follows on from a consultation which found that more than 80% of respondents supported a ban on the distribution and sale of plastic straws, with 90% backing a ban on drinks stirrers and 89% in favor of a ban on cotton swabs. The consultation ran from October 22, 2018 to December 3, 2018, and had 1,602 respondents.

Outlining details of the ban, the U.K. government said there would be exemptions to make sure that people with a disability or medical requirements could continue using plastic straws.

In practice, this means that while restaurants and bars will not be allowed to display plastic straws or “automatically hand them out” they will be able to provide them upon request.

Another exemption will apply to the use of plastic-stemmed cotton swabs for “medical and scientific purposes” where such items are “often the only practical option.”

The CEO of Surfers Against Sewage, Hugo Tagholm, said the charity welcomed the ban. “Stopping the production and distribution of these single-use plastic menaces will prevent them from polluting beaches nationwide,” he added. “It’s a really positive and bold step in the right direction in the battle against plastic pollution.”

Several major businesses are already looking to move away from using plastic in their stores. Fast food giant McDonald’s is rolling out paper straws to stores in the U.K. and Ireland, while upscale supermarket Waitrose now only offers paper straws in its cafes.

The issue of plastic pollution is a big problem. Europeans produce 25 million tons of plastic waste per year, according to the European Commission. Less than 30% of this is collected for recycling.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: anmar frangoul
Keywords: news, cnbc, companies, cotton, straws, swabs, pollution, 2020, using, uk, england, stirrers, stores, plastic, ban


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Wall Street analysts are worried most about these stocks following the US crackdown on Huawei

The ban on chipmakers selling to Huawei is having ramifications felt far and wide. Some adjusted their price targets while one analyst went even further and removed a buy rating. “Huawei accounted for 13% and 8% of Qorvo’s F’19 and F’18 revenue, respectively,” said analyst T. Michael Walkley. “We believe our estimate reductions will likely prove conservative, as we believe the ban will likely get resolved in the coming months.” Here are what analysts are saying about stocks downgraded on Huawei


The ban on chipmakers selling to Huawei is having ramifications felt far and wide. Some adjusted their price targets while one analyst went even further and removed a buy rating. “Huawei accounted for 13% and 8% of Qorvo’s F’19 and F’18 revenue, respectively,” said analyst T. Michael Walkley. “We believe our estimate reductions will likely prove conservative, as we believe the ban will likely get resolved in the coming months.” Here are what analysts are saying about stocks downgraded on Huawei
Wall Street analysts are worried most about these stocks following the US crackdown on Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: michael bloom
Keywords: news, cnbc, companies, likely, revenue, price, street, went, wall, ban, huawei, following, crackdown, believe, skyworks, analyst, analysts, stocks, worried


Wall Street analysts are worried most about these stocks following the US crackdown on Huawei

A man walking past a Huawei P20 smartphone advertisement is reflected in a glass door in front of a Huawei logo, at a shopping mall in Shanghai, China December 6, 2018.

The ban on chipmakers selling to Huawei is having ramifications felt far and wide. Even as the U.S. government decided to delay imposing the restrictions by 90 days, that’s not stopping Wall Street analysts from handing out downgrades and urging clients to adjust their portfolios.

It’s also hurting the broader market. Tech is the worst-performing sector this month, sliding more than 5%.

While a few analysts remain hopeful for a resolution in the near-term, most weren’t taking their chances surrounding the overall uncertainty. Some adjusted their price targets while one analyst went even further and removed a buy rating.

Semiconductor companies Qorvo and Skyworks recently had their price targets reduced by analysts at Canaccord.

“Huawei accounted for 13% and 8% of Qorvo’s F’19 and F’18 revenue, respectively,” said analyst T. Michael Walkley. “We believe our estimate reductions will likely prove conservative, as we believe the ban will likely get resolved in the coming months.”

“Huawei is the third largest customer for Skyworks and accounted for 10% of the company’s F’17 revenue but below 10% for F’18, and we believe Huawei could represent roughly 10% of Skyworks revenue going forward should the ban get lifted due to improving 5G infrastructure demand,” Walkley said.

The collateral damage continued this week when telecommunications equipment company Lumentum cut earnings guidance.

“We think the negative revenue impact from lost Huawei sales will likely be higher in 1QFY20 than in 4QFY19 due to there being a full quarter of ban in place,” said MKM analyst Michael Genovese. He lowered his price target on the stock to $60 from $72.

One analyst was more succinct in his downgrade of electronic measurement company, Keysight Technologies.

“What’s bad for the U.S. tech Industry isn’t a positive for KEYS. China-related uncertainty may be an overhang on the shares in the near term,” said Baird analyst Richard Eastman who went from outperform to neutral on the stock.

Here are what analysts are saying about stocks downgraded on Huawei concerns:


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: michael bloom
Keywords: news, cnbc, companies, likely, revenue, price, street, went, wall, ban, huawei, following, crackdown, believe, skyworks, analyst, analysts, stocks, worried


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Maryland’s top finance official calls for economic retaliation against Alabama after state passes near-total abortion ban

A protester holds a sign in opposition to HB314, which would ban abortions in all cases except the health of the mother outside the Alabama State House on Tuesday, May 14, 2019 in Montgomery, AL. Maryland’s chief financial officer on Thursday called for a number of retaliatory economic measures against Alabama in response to the state’s passage of the nation’s most restrictive abortion legislation. The bill was signed Wednesday by Republican Gov. First, he said, he will order his staff to prepar


A protester holds a sign in opposition to HB314, which would ban abortions in all cases except the health of the mother outside the Alabama State House on Tuesday, May 14, 2019 in Montgomery, AL. Maryland’s chief financial officer on Thursday called for a number of retaliatory economic measures against Alabama in response to the state’s passage of the nation’s most restrictive abortion legislation. The bill was signed Wednesday by Republican Gov. First, he said, he will order his staff to prepar
Maryland’s top finance official calls for economic retaliation against Alabama after state passes near-total abortion ban Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: tucker higgins
Keywords: news, cnbc, companies, staff, calls, official, ban, states, finance, passes, retaliation, state, alabama, marylands, economic, board, neartotal, retirement, republican, systems, order, gov, nations


Maryland's top finance official calls for economic retaliation against Alabama after state passes near-total abortion ban

A protester holds a sign in opposition to HB314, which would ban abortions in all cases except the health of the mother outside the Alabama State House on Tuesday, May 14, 2019 in Montgomery, AL.

Maryland’s chief financial officer on Thursday called for a number of retaliatory economic measures against Alabama in response to the state’s passage of the nation’s most restrictive abortion legislation. The bill was signed Wednesday by Republican Gov. Kay Ivey.

Maryland Comptroller Peter Franchot, a Democrat who also serves as vice chair of the state’s retirement system, is seeking a full divestment of the $52 billion pension fund from Alabama businesses and will soon make the case to the system’s board of trustees, he said.

First, he said, he will order his staff to prepare a report on the retirement system’s exposure to Alabama to make sure that it can be done responsibly.

Read more: Alabama lawmakers, with eyes on overturning Roe v. Wade, pass nation’s strictest abortion ban

Franchot also said he will order his staff of 1,100 employees not to travel to Alabama on business and will use his seat on the three-member Board of Public Works to limit contracts given to Alabama companies. That board, which also includes Republican Gov. Larry Hogan, awards $11 billion in contracts annually, he noted.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: tucker higgins
Keywords: news, cnbc, companies, staff, calls, official, ban, states, finance, passes, retaliation, state, alabama, marylands, economic, board, neartotal, retirement, republican, systems, order, gov, nations


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Facebook rolls back ban on cryptocurrency ads as it ramps up its own blockchain efforts

Facebook on Wednesday said it is loosening its ban on ads related to blockchain and cryptocurrency, allowing more businesses working on those technologies to promote their efforts on the social network. “While we will still require people to apply to run ads promoting cryptocurrency, starting today, we will narrow this policy to no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.” In October, CNBC highlighted the


Facebook on Wednesday said it is loosening its ban on ads related to blockchain and cryptocurrency, allowing more businesses working on those technologies to promote their efforts on the social network. “While we will still require people to apply to run ads promoting cryptocurrency, starting today, we will narrow this policy to no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.” In October, CNBC highlighted the
Facebook rolls back ban on cryptocurrency ads as it ramps up its own blockchain efforts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: salvador rodriguez, stephen lam
Keywords: news, cnbc, companies, facebook, ads, efforts, technology, ramps, company, blockchain, policy, require, rolls, related, data, ban, cryptocurrency, users


Facebook rolls back ban on cryptocurrency ads as it ramps up its own blockchain efforts

Facebook on Wednesday said it is loosening its ban on ads related to blockchain and cryptocurrency, allowing more businesses working on those technologies to promote their efforts on the social network.

Facebook first started blocking ads promoting cryptocurrencies and initial coin offerings in January 2018 over concerns that users might be scammed by initial coin offerings offered by some crypto start-ups. The company loosened its ban in June to allow ads from advertisers who received prior written approval. Now, it is further rolling back the policy so that many types of ads will no longer require approval.

“We’ve listened to feedback and assessed the policy’s effectiveness,” Facebook said Wednesday in a blog post. “While we will still require people to apply to run ads promoting cryptocurrency, starting today, we will narrow this policy to no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.”

The company has come under scrutiny over the wide reach of this policy over the past year.

In October, CNBC highlighted the ban’s impact on Bloom, a San Francisco start-up that uses blockchain technology to help people keep control over their personal data online. Bloom had spent hundreds of thousands of dollars on Facebook ads to promote its services, but the saw all of its ads suddenly banned by the social network in October.

“It’s good to see them (hopefully) evolve their stance on new technology that puts users in control of their data,” said Shannon Wu of Bloom in a statement.

Facebook’s rollback of this ban comes amid reports that the company is working on its own blockchain project. In December, Bloomberg reported that the company is building a so-called stablecoin that will allow WhatsApp users to send cryptocurrency payments to one another. Facebook has been in talks with dozens of financial firms and e-commerce companies to support the initiative, the Wall Street Journal reported last week.

WATCH: Here’s how to see which apps have access to your Facebook data — and cut them off


Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: salvador rodriguez, stephen lam
Keywords: news, cnbc, companies, facebook, ads, efforts, technology, ramps, company, blockchain, policy, require, rolls, related, data, ban, cryptocurrency, users


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