Hong Kong stock exchange makes $36.6 billion offer for London stock exchange

Hong Kong Exchanges and Clearing Limited (HKEX) said Wednesday it has made a proposal to the board of London Stock Exchange Group Plc (LSE) to “combine the two companies,” in a deal which values the LSE at about £29.6 billion ($36.6 billion). The HKEX said the deal would be funded by a combination of existing cash and a new credit facility. HKEX has proposed £20.45 a share in cash, as well as 2.495 newly issued HKEX shares. LSE shares rallied shortly after 10:00 a.m. London time, rising by 8.5%


Hong Kong Exchanges and Clearing Limited (HKEX) said Wednesday it has made a proposal to the board of London Stock Exchange Group Plc (LSE) to “combine the two companies,” in a deal which values the LSE at about £29.6 billion ($36.6 billion). The HKEX said the deal would be funded by a combination of existing cash and a new credit facility. HKEX has proposed £20.45 a share in cash, as well as 2.495 newly issued HKEX shares. LSE shares rallied shortly after 10:00 a.m. London time, rising by 8.5%
Hong Kong stock exchange makes $36.6 billion offer for London stock exchange Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: david reid
Keywords: news, cnbc, companies, hong, announcement, statement, values, kong, 366, makes, deal, london, offer, lse, hkex, shares, cash, work, exchange, stock, billion


Hong Kong stock exchange makes $36.6 billion offer for London stock exchange

Hong Kong Exchanges and Clearing Limited (HKEX) said Wednesday it has made a proposal to the board of London Stock Exchange Group Plc (LSE) to “combine the two companies,” in a deal which values the LSE at about £29.6 billion ($36.6 billion).

The HKEX said the deal would be funded by a combination of existing cash and a new credit facility. It cautioned, however, that its statement to the market should be considered as an announcement to make a possible offer and is not confirmation of a firm intention to bid.

The statement from HKEX said a further announcement will be made “as and when appropriate.”

HKEX has proposed £20.45 a share in cash, as well as 2.495 newly issued HKEX shares. LSE shares rallied shortly after 10:00 a.m. London time, rising by 8.5% before giving up some of the initial gains.

HKEX said it expected key LSE management to keep their jobs and work for the new owners.


Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: david reid
Keywords: news, cnbc, companies, hong, announcement, statement, values, kong, 366, makes, deal, london, offer, lse, hkex, shares, cash, work, exchange, stock, billion


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From trash to cash: These investors have made a killing by betting on a waste management company

Christopher Warner and Ozo Jaculewicz helped build one of the top-performing funds of 2019 with an unconventional bet: Waste Connections. Waste Connections, a waste management company based in Canada, has the largest weight in the Wells Fargo Asset Management Discovery fund (WFDAX), which is managed by Warner and Jaculewicz. “We’re growth managers but we like a balanced portfolio so we can do well in different market environments.” The fund, Young noted, posted a 20% loss in the fourth quarter o


Christopher Warner and Ozo Jaculewicz helped build one of the top-performing funds of 2019 with an unconventional bet: Waste Connections. Waste Connections, a waste management company based in Canada, has the largest weight in the Wells Fargo Asset Management Discovery fund (WFDAX), which is managed by Warner and Jaculewicz. “We’re growth managers but we like a balanced portfolio so we can do well in different market environments.” The fund, Young noted, posted a 20% loss in the fourth quarter o
From trash to cash: These investors have made a killing by betting on a waste management company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-07  Authors: fred imbert
Keywords: news, cnbc, companies, cash, company, investors, funds, trash, managers, warner, betting, waste, fund, young, market, morningstar, killing, management, portfolio, way


From trash to cash: These investors have made a killing by betting on a waste management company

Christopher Warner and Ozo Jaculewicz helped build one of the top-performing funds of 2019 with an unconventional bet: Waste Connections.

Waste Connections, a waste management company based in Canada, has the largest weight in the Wells Fargo Asset Management Discovery fund (WFDAX), which is managed by Warner and Jaculewicz. Their bet on Waste Connections panned out, with the stock gaining 23% this year. It has also led to massive gains for the fund’s investors in 2019.

The four-star rated fund is up 34.9% this year and is outperforming 97% of the funds in its category, according to Morningstar. The fund — which has $2.6 billion in assets — has also been on fire relative to the S&P 500, which is up 18.7% in 2019.

“The way we manage the portfolio and the way we think about things is we like balance and sales,” said Warner, one of the fund’s co-managers. “We’re growth managers but we like a balanced portfolio so we can do well in different market environments.”

Connor Young, an analyst at Morningstar, said that while the fund is a top performer, it has been vulnerable to big pullbacks in the market given its tilt towards high-growth companies. The fund, Young noted, posted a 20% loss in the fourth quarter of 2018 amid a sharp market downturn.

“But at their core, these are talented and experienced managers who … continue to carry out a proven approach that has delivered strong long-term results at this fund,” Young said.


Company: cnbc, Activity: cnbc, Date: 2019-09-07  Authors: fred imbert
Keywords: news, cnbc, companies, cash, company, investors, funds, trash, managers, warner, betting, waste, fund, young, market, morningstar, killing, management, portfolio, way


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‘Shark Tank’ star Barbara Corcoran wishes she’d gotten this money advice in her 20s

Barbara Corcoran is a real estate mogul, successful investor, and a star on ABC’s “Shark Tank.” “The truth is, I don’t save [money],” Corcoran told Grow earlier this year. She was influenced by the way her family handled their finances: “My parents never saved a dime. Corcoran went on to build up The Corcoran Group and sell it for $66 million in 2001. That’s because sticking to a cash diet can help you see how much you’re spending, and on what.


Barbara Corcoran is a real estate mogul, successful investor, and a star on ABC’s “Shark Tank.” “The truth is, I don’t save [money],” Corcoran told Grow earlier this year. She was influenced by the way her family handled their finances: “My parents never saved a dime. Corcoran went on to build up The Corcoran Group and sell it for $66 million in 2001. That’s because sticking to a cash diet can help you see how much you’re spending, and on what.
‘Shark Tank’ star Barbara Corcoran wishes she’d gotten this money advice in her 20s Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: mariam abdallah, sofia pitt, anna-louise jackson
Keywords: news, cnbc, companies, star, card, cash, tank, advice, corcoran, shark, youre, week, early, barbara, money, gotten, spending, realized, credit, wishes, shed


'Shark Tank' star Barbara Corcoran wishes she'd gotten this money advice in her 20s

Barbara Corcoran is a real estate mogul, successful investor, and a star on ABC’s “Shark Tank.” She’s also a self-described “bad saver.”

“The truth is, I don’t save [money],” Corcoran told Grow earlier this year. She was influenced by the way her family handled their finances: “My parents never saved a dime. They had 10 kids and could barely pay the rent.”

Corcoran went on to build up The Corcoran Group and sell it for $66 million in 2001. But as a young adult, she bounced checks and racked up credit card debt, and she now says she wishes someone had suggested, early on, that she use only cash for one week, without charging anything to a credit card. That’s because sticking to a cash diet can help you see how much you’re spending, and on what.

“When you put it on a credit card, somehow, in that moment, [what you are buying] seems like great value, but when you’re putting cash out — you have limited cash, what you’ve earned that week — you’re surprised at how quickly you realize how much money you’re truly wasting,” Corcoran explained to Business Insider.

Instead, Corcoran says, she developed bad habits, and they cost her: “By my late 20s, I realized I couldn’t afford the things I really desired, and by my early 30s I realized I had to work like crazy to get what I wanted rather than spending it before I had it.”


Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: mariam abdallah, sofia pitt, anna-louise jackson
Keywords: news, cnbc, companies, star, card, cash, tank, advice, corcoran, shark, youre, week, early, barbara, money, gotten, spending, realized, credit, wishes, shed


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Focus on the ‘timing of when you spend your money’ if you want to save more, says expert

Being mindful about how and when you spend your money can help you save, Kraninger says: “There are a lot of things that we pay that we don’t think about,” and they can make a real difference to your bottom line. You can also try reverse budgeting by setting aside money for the essentials first. “Timing of when you spend your money is an important consideration.” Identifying “the difference between a need and a want” can help, Kraninger says, although which expenses fall in each category may loo


Being mindful about how and when you spend your money can help you save, Kraninger says: “There are a lot of things that we pay that we don’t think about,” and they can make a real difference to your bottom line. You can also try reverse budgeting by setting aside money for the essentials first. “Timing of when you spend your money is an important consideration.” Identifying “the difference between a need and a want” can help, Kraninger says, although which expenses fall in each category may loo
Focus on the ‘timing of when you spend your money’ if you want to save more, says expert Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: anna-louise jackson, ivana pino, mariam abdallah, myelle lansat
Keywords: news, cnbc, companies, difference, atm, important, spend, help, save, money, cash, kraninger, fees, focus, pay, expert, timing


Focus on the 'timing of when you spend your money' if you want to save more, says expert

Kathy Kraninger, director of the Consumer Financial Protection Bureau, will plan her day around a visit to her bank, just so she doesn’t have to pay fees to withdraw cash from another bank’s ATM. Just how much does that type of planning save? A 2018 study by Bankrate found that withdrawing cash from an out-of-network ATM results in total fees of $4.68, both from your bank and the one that owns the ATM. That may not seem like much, but small fees can really add up over time, which is why it’s important to be vigilant, says Kraninger. The CFPB launched the “Start Small, Save Up” initiative earlier this year to provide tips, tools, and resources aimed at helping consumers develop a saving habit and build up a savings cushion. Being mindful about how and when you spend your money can help you save, Kraninger says: “There are a lot of things that we pay that we don’t think about,” and they can make a real difference to your bottom line.

‘Figure out where your tightest time is’

Nearly half of Americans live paycheck to paycheck, according to a recent survey conducted by GoBankingRates. Whether or not that’s not the case for you, it helps to understand your cash flow — when money comes in and when major bills are due — to avoid other costly fees like overdraft charges, Kraninger says. Bankrate found that the average overdraft fee in 2018 was $33.23. Creating a budget can help. You can also try reverse budgeting by setting aside money for the essentials first. “Figure out where your tightest time is, and try to mitigate that by managing your spending at certain times of the month when you have the ability to do it,” she says. “Timing of when you spend your money is an important consideration.”

There are a lot of things that we pay that we don’t think about. Kathy Kraninger director of the CFPB

‘The difference between a need and a want’

When analyzing your cash flow, it’s important to find ways to improve your savings rate and develop a long-term habit of paying yourself first, Kraninger says. That also means scrutinizing whether some spending is actually necessary — advice that she says “is certainly not popular.” Identifying “the difference between a need and a want” can help, Kraninger says, although which expenses fall in each category may look a little different for everyone. And asking yourself this question is an important step to incorporate in your monthly budgeting, she adds.

‘Don’t buy anything with a credit card that you actually can’t afford’


Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: anna-louise jackson, ivana pino, mariam abdallah, myelle lansat
Keywords: news, cnbc, companies, difference, atm, important, spend, help, save, money, cash, kraninger, fees, focus, pay, expert, timing


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Slack CEO says the company will use its $800 million cash pile to focus on growth

In an interview with CNBC’s Squawk Box on Thursday, Andrew Ross Sorkin asked Butterfield what Slack views as reasonable costs. Slack has about $800 million in cash on hand, Butterfield said, which is one of the reasons the company went public earlier this year with a direct listing, rather than an initial public offering. For the quarter, Slack reported a loss of 14 cents per share and $145 million in revenue, compared to analysts’ expectations for a loss of 18 cents per share on revenue of $140


In an interview with CNBC’s Squawk Box on Thursday, Andrew Ross Sorkin asked Butterfield what Slack views as reasonable costs. Slack has about $800 million in cash on hand, Butterfield said, which is one of the reasons the company went public earlier this year with a direct listing, rather than an initial public offering. For the quarter, Slack reported a loss of 14 cents per share and $145 million in revenue, compared to analysts’ expectations for a loss of 18 cents per share on revenue of $140
Slack CEO says the company will use its $800 million cash pile to focus on growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: annie palmer, jordan novet
Keywords: news, cnbc, companies, growth, million, slack, butterfield, public, cash, quarter, pile, ceo, loss, share, company, focus, cents, 800


Slack CEO says the company will use its $800 million cash pile to focus on growth

Slack CEO Stewart Butterfield said on Thursday that the company is laser-focused on investing in growth, as it spends more on creating new features for customers and attracting additional businesses to its workplace chat service.

Investors continue to raise concerns around Slack’s ballooning costs, with MKM Partners analyst Rohit Kulkarni saying in a recent research note that companies can take a growth at all costs view as private companies, but once they go public they have to grow at “reasonable costs.”

In an interview with CNBC’s Squawk Box on Thursday, Andrew Ross Sorkin asked Butterfield what Slack views as reasonable costs.

“We’re in a strong cash position,” Butterfield said. “When we see opportunities, growth is the priority. I don’t mean growth at all costs, but at reasonable costs.”

Slack has about $800 million in cash on hand, Butterfield said, which is one of the reasons the company went public earlier this year with a direct listing, rather than an initial public offering.

Butterfield highlighted Slack’s “win after win in enterprise” as a bright spot in the company’s first earnings report since going public. The company now counts 100,000 paid customers as of the fiscal second-quarter, many of which have “hundreds of thousands of people, tens of thousands of people,” Butterfield said.

While the company beat on the top and bottom lines for the fiscal second quarter, Slack said it expects sales growth to continue to slow, alongside wider-than-expected losses for the current quarter, which sent shares tumbling.

The stock slid more than 15% in early trading on Thursday, with its share price almost touching $26, which was the reference price from its direct listing in June.

For the quarter, Slack reported a loss of 14 cents per share and $145 million in revenue, compared to analysts’ expectations for a loss of 18 cents per share on revenue of $140.7 million. Slack noted its revenue for the quarter was negatively impacted by $8.2 million of credits issued to customers after outages during the period. On the company’s earnings call, Butterfield said the company is making big investments to prevent future service disruptions.

The company said it expects to report a fiscal third-quarter loss of 8 cents to 9 cents per share, which is wider than the 7 cents per share forecast by analysts. For the full year, Slack is projecting a loss of 40 cents to 42 cents per share, compared to consensus estimates of a loss of 40 cents per share.

Like the recent debuts of unicorns Uber and Lyft, Slack has had a rough time on the public markets since its direct listing on June 20. The stock has fallen about 20%, reflecting investors’ increased skepticism about its business, which depends on selling workplace chat software subscriptions to businesses.


Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: annie palmer, jordan novet
Keywords: news, cnbc, companies, growth, million, slack, butterfield, public, cash, quarter, pile, ceo, loss, share, company, focus, cents, 800


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Reserve Bank of Australia holds cash rate at 1%

The Reserve Bank of Australia headquarters in the central business district of Sydney, Australia. Australia’s central bank kept its cash rate at an all-time low of 1% on Tuesday, expecting recent back-to-back policy easing to boost broader economic growth in coming quarters, though it left the door ajar for further cuts. The Reserve Bank of Australia’s (RBA) quarter-point reductions in June and July have struggled to gain traction amid tepid consumption at home and global uncertainty cast by the


The Reserve Bank of Australia headquarters in the central business district of Sydney, Australia. Australia’s central bank kept its cash rate at an all-time low of 1% on Tuesday, expecting recent back-to-back policy easing to boost broader economic growth in coming quarters, though it left the door ajar for further cuts. The Reserve Bank of Australia’s (RBA) quarter-point reductions in June and July have struggled to gain traction amid tepid consumption at home and global uncertainty cast by the
Reserve Bank of Australia holds cash rate at 1% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-03
Keywords: news, cnbc, companies, growth, rbas, economic, consumption, uncertainty, australia, holds, reserve, coming, bank, australias, rate, cash, likely


Reserve Bank of Australia holds cash rate at 1%

The Reserve Bank of Australia headquarters in the central business district of Sydney, Australia.

Australia’s central bank kept its cash rate at an all-time low of 1% on Tuesday, expecting recent back-to-back policy easing to boost broader economic growth in coming quarters, though it left the door ajar for further cuts.

The Reserve Bank of Australia’s (RBA) quarter-point reductions in June and July have struggled to gain traction amid tepid consumption at home and global uncertainty cast by the Sino-U.S. trade dispute.

Indeed, data out earlier showed Australia’s household sector was battling miserly wage growth and subdued home prices with retail sales unexpectedly falling 0.1% in July. Annual growth braked to 2.4%, the slowest pace since the start of 2018.

RBA Governor Philip Lowe acknowledged domestic consumption was the main economic uncertainty, reiterating it was “reasonable to expect” lower for longer interest rates to help boost employment growth and inflation.

“The Board will continue to monitor developments, including in the labour market, and ease monetary policy further if needed,” to support growth and inflation targets, Lowe said in a short post-meeting statement.

Financial futures are pricing in a third cut to 0.75% by October and a fourth to 0.5% by early next year.

Lowe held out hope for stronger consumer spending in coming months helped by a pick-up in household disposable income from recent tax cuts and a “stabilisation” of the country’s subdued housing market.

However, the near-term outlook was quite downbeat.

Data out on Wednesday is likely to show Australia’s June quarter gross domestic product (GDP) growth paced below the RBA’s recently downgraded estimates, with housing construction and private consumption the biggest drags.

A median of 20 economists’ forecasts shows the A$1.9 trillion economy likely expanded 0.5% in the second quarter compared with RBA’s expectations of 0.8%.

Annual growth is seen slowing to a decade low of 1.5%.

“The RBA sounded a touch more optimistic when it left interest rates on hold today, but we still think that further rate cuts over the coming months are likely,” said Ben Udy, Singapore-based economist at Capital Economics.

“We don’t think that the economy is out of the woods just yet…Jobs growth tends to lag economic activity and we still expect the unemployment rate to climb to 5.5% over the coming months.”

Australia has seen strong employment growth but the jobless rate has stayed above 5% since February this year, much higher than the RBA’s goal of 4.5%.


Company: cnbc, Activity: cnbc, Date: 2019-09-03
Keywords: news, cnbc, companies, growth, rbas, economic, consumption, uncertainty, australia, holds, reserve, coming, bank, australias, rate, cash, likely


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Even in uncertain times like these, cash is still a bad idea for investors, UBS says

Cash is still not the answer, despite looming economic uncertainty, according to UBS. “We believe that investors can keep their investment strategies on track for the long term even in the current uncertain times without retreating to cash,” UBS global chief investment strategist Mark Haefele said in a note to clients Wednesday. Investors are searching for safe havens amid the uncertain landscape; however, Haefele said a retreat into cash is not the solution. “Dividend investing is a defensive i


Cash is still not the answer, despite looming economic uncertainty, according to UBS. “We believe that investors can keep their investment strategies on track for the long term even in the current uncertain times without retreating to cash,” UBS global chief investment strategist Mark Haefele said in a note to clients Wednesday. Investors are searching for safe havens amid the uncertain landscape; however, Haefele said a retreat into cash is not the solution. “Dividend investing is a defensive i
Even in uncertain times like these, cash is still a bad idea for investors, UBS says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, volatile, times, stocks, uncertain, trade, investors, strategies, ubs, investment, cash, bad, uncertainty, idea


Even in uncertain times like these, cash is still a bad idea for investors, UBS says

Cash is still not the answer, despite looming economic uncertainty, according to UBS.

“We believe that investors can keep their investment strategies on track for the long term even in the current uncertain times without retreating to cash,” UBS global chief investment strategist Mark Haefele said in a note to clients Wednesday.

Economic uncertainty reigns as the trade war between the U.S. and China has placed increasing strain on the global economy, prompting policymakers to respond with interest rate cuts and stimulus measures to bolster growth. Investors are searching for safe havens amid the uncertain landscape; however, Haefele said a retreat into cash is not the solution.

“A high allocation to cash over the longer term increases the risk that investors will fail to achieve their financial goals,” he wrote.

Instead, the firm recommends a broad range of defensive strategies to protect long-terms gains, such as high and sustainable dividend stocks and gold.

“Dividend investing is a defensive investment style that generates regular cash flows for investors and tends to outperform when markets are volatile,” said Haefele.

Dividend stocks tend to perform well in low interest rate environments and are more stable than earnings, he added.

Gold is a historically safe trade when rates are low, stocks are volatile and the dollar is weak. UBS expects the precious metal to breach the $1,600 level in six months and said adding gold can provide stability to investor portfolios.

Haefele also said there are opportunities in secular trends as well as put options that allow investors to sell at designated price points.

“Put-writing strategies tend to perform better in sideways equity markets, when investors benefit more from regular cash flows than from directional exposure,” he said.

— With reporting from CNBC’s Michael Bloom


Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, volatile, times, stocks, uncertain, trade, investors, strategies, ubs, investment, cash, bad, uncertainty, idea


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Here’s whether it makes sense to ditch stocks and move to cash

Hillary Kladke | Moment | Getty ImagesTrying to time the stock market is considered a fool’s errand. The answer from financial advisors is typically an emphatic no. Some investors and advisors have been increasing cash positions in their portfolios in anticipation of continued volatility and falling prices. Cash is an important part of any financial plan, experts say. There can be value in holding cash, but it should be part of a larger plan, not because you’re running for the hills.


Hillary Kladke | Moment | Getty ImagesTrying to time the stock market is considered a fool’s errand. The answer from financial advisors is typically an emphatic no. Some investors and advisors have been increasing cash positions in their portfolios in anticipation of continued volatility and falling prices. Cash is an important part of any financial plan, experts say. There can be value in holding cash, but it should be part of a larger plan, not because you’re running for the hills.
Here’s whether it makes sense to ditch stocks and move to cash Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-27  Authors: sarah obrien
Keywords: news, cnbc, companies, plan, value, heres, sense, safran, stocks, market, stock, ditch, youre, financial, worth, cash, advisors, makes


Here's whether it makes sense to ditch stocks and move to cash

Hillary Kladke | Moment | Getty Images

Trying to time the stock market is considered a fool’s errand. Yet is it ever a good idea to move entirely to cash? The answer from financial advisors is typically an emphatic no. Some, however, offer a caveat. “If you have all the money you’ll ever need, and don’t need to take on any risk to accomplish all of your goals for the rest of your life, sure, move to cash,” said certified financial planner David Robbins, vice president of investments at Moors & Cabot in Phoenix. “But realistically, that’s a rare scenario,” Robbins said. Against a backdrop of recession fears and continued uncertainty about tariffs, stocks have been zigzagging mostly downward for several weeks. While the Dow Jones climbed Monday, closing at 25,849, it’s still down from its peak of 27,359 on July 15. The S&P 500 index closed at 2,879 on Monday, down from its July 26 high of 3,025.86.

Some investors and advisors have been increasing cash positions in their portfolios in anticipation of continued volatility and falling prices. With an inverted yield curve — when longer-term interest rates fall below short-term rates — suggesting that a recession could be looming, exactly where the market goes from here is anyone’s guess. Cash is an important part of any financial plan, experts say. Many advisors recommend that people generally have at least three to six months’ worth of emergency savings set aside — which typically means having a cash account you can tap without worrying about the securities markets’ effect on its value. For retirees, though, advisors often recommend keeping two to three years’ worth of income in investments that are not subject to the whims of the stock market. Depending on a person’s particular situation, part of that strategy could include a cash component. “There can be value in holding cash, but it should be part of a larger plan, not because you’re running for the hills,” said CFP Erika Safran, founder of Safran Wealth Advisors in New York. For long-term investors — say, younger workers saving for retirement — it’s important to remember that while the stock market might jump around or enter a prolonged downturn, none of those losses you see on paper is locked in unless you sell. And history has shown that the market always ends up going back up — and surpassing its previous high.

There can be value in holding cash, but it should be part of a larger plan, not because you’re running for the hills. Erika Safran Founder of Safran Wealth Advisors


Company: cnbc, Activity: cnbc, Date: 2019-08-27  Authors: sarah obrien
Keywords: news, cnbc, companies, plan, value, heres, sense, safran, stocks, market, stock, ditch, youre, financial, worth, cash, advisors, makes


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Amazon’s top treasurer leaves the company after 15 years of managing its money

Kurt Zumwalt, Amazon’s global treasurer, has departed after 15 years of helping manage the company’s cash and overseeing investments and debt financings. Zumwalt left Amazon last week, according to people familiar with matter who asked not to be named because the news hasn’t been made public. Zumwalt recently updated his LinkedIn profile to say that he left this month. Last month, Jeff Blackburn, who was senior vice president of worldwide business development, announced a one-year leave that sta


Kurt Zumwalt, Amazon’s global treasurer, has departed after 15 years of helping manage the company’s cash and overseeing investments and debt financings. Zumwalt left Amazon last week, according to people familiar with matter who asked not to be named because the news hasn’t been made public. Zumwalt recently updated his LinkedIn profile to say that he left this month. Last month, Jeff Blackburn, who was senior vice president of worldwide business development, announced a one-year leave that sta
Amazon’s top treasurer leaves the company after 15 years of managing its money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-26  Authors: eugene kim
Keywords: news, cnbc, companies, amazons, amazon, leaves, left, global, money, business, zumwalt, president, billion, cash, 15, vice, managing, company, treasurer


Amazon's top treasurer leaves the company after 15 years of managing its money

Kurt Zumwalt, Amazon’s global treasurer, has departed after 15 years of helping manage the company’s cash and overseeing investments and debt financings.

Zumwalt left Amazon last week, according to people familiar with matter who asked not to be named because the news hasn’t been made public. Zumwalt recently updated his LinkedIn profile to say that he left this month.

His move comes at a tricky time for Amazon. The company, which had a record $10 billion in net profit last year and is now sitting on over $40 billion of cash and equivalents, is entering another heavy investment cycle as it looks to make one-day delivery the default for Prime members. At the same time, Amazon is dealing with macro uncertainty because of the trade war with China, global recession concerns and growing regulatory scrutiny around its business practices.

Zumwalt, who reported to CFO Brian Olsavsky, is the latest high-profile executive to exit. Last month, Jeff Blackburn, who was senior vice president of worldwide business development, announced a one-year leave that starts next year, shortly after Prentis Wilson, vice president of Amazon Business, left to join start-up Boxed. Sunny Jain, who ran Amazon’s health and personal care business, including the PillPack division, went to Unilever in March, and Chee Chew, vice president of consumer engagement, became chief product office at Twilio in January.


Company: cnbc, Activity: cnbc, Date: 2019-08-26  Authors: eugene kim
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Poker players don’t take home the stacks of cash you see on TV — here’s who does

Poker, however, is a game where players can go long periods without a win or reaching a spot that earns cash. To offset this financial risk, players turn to staking. Recently, entrepreneurial poker players have developed websites that can bring the idea of poker staking to the masses. Poker staking, isn’t always easy or guaranteed to earn anyone money. When the World Series of Poker airs each year and a winner takes home stacks of cash, keep in mind not all of that money will be going to that pl


Poker, however, is a game where players can go long periods without a win or reaching a spot that earns cash. To offset this financial risk, players turn to staking. Recently, entrepreneurial poker players have developed websites that can bring the idea of poker staking to the masses. Poker staking, isn’t always easy or guaranteed to earn anyone money. When the World Series of Poker airs each year and a winner takes home stacks of cash, keep in mind not all of that money will be going to that pl
Poker players don’t take home the stacks of cash you see on TV — here’s who does Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-25  Authors: samuel rega
Keywords: news, cnbc, companies, heres, risk, world, series, backer, cash, tv, does, win, player, staking, poker, dont, money, players, stacks


Poker players don't take home the stacks of cash you see on TV — here's who does

In the early 2000s, professional poker reached new heights in popularity. Between ESPN, the 1998 movie “Rounders,” and Chris Moneymaker’s out-of-nowhere win at the 2003 World Series of Poker, the lure of turning professional and earning millions brought many to Las Vegas. Poker, however, is a game where players can go long periods without a win or reaching a spot that earns cash. When a player does finally win, it can be thousands or even millions of dollars. Many players will agree that one must consistently enter games in order to be successful. The financial risk, can be a heavy burden, especially if someone is beginning a career.

To offset this financial risk, players turn to staking. A person, or backer, will put up the money for a player to enter a tournament. If the player wins, the backer receives a portion of the winning. If the player loses, the backer loses. It’s a method of playing that for years took place outside of casinos between players and people in the know. Recently, entrepreneurial poker players have developed websites that can bring the idea of poker staking to the masses. It’s a new way for fans to interact with poker professionals, much like daily fantasy sports.

Poker staking, isn’t always easy or guaranteed to earn anyone money. There’s still heavy risk involved both financially and legally. When the World Series of Poker airs each year and a winner takes home stacks of cash, keep in mind not all of that money will be going to that player.


Company: cnbc, Activity: cnbc, Date: 2019-08-25  Authors: samuel rega
Keywords: news, cnbc, companies, heres, risk, world, series, backer, cash, tv, does, win, player, staking, poker, dont, money, players, stacks


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