European stocks close lower in choppy session

The pan-European Stoxx 600 finished the session provisionally down 0.33% in afternoon trade, autos leading losses with a 1.5% fall as the majority of sectors and major bourses dropped into the red. European stocks traded lower Thursday amid a volatile session following a global sell-off as bond markets stoked fears of an impending recession. Global markets were routed on Wednesday as the U.S. 2-year/10-year Treasury yield curve inverted for the first time since 2007, while the U.K. 2-year/10-yea


The pan-European Stoxx 600 finished the session provisionally down 0.33% in afternoon trade, autos leading losses with a 1.5% fall as the majority of sectors and major bourses dropped into the red. European stocks traded lower Thursday amid a volatile session following a global sell-off as bond markets stoked fears of an impending recession. Global markets were routed on Wednesday as the U.S. 2-year/10-year Treasury yield curve inverted for the first time since 2007, while the U.K. 2-year/10-yea
European stocks close lower in choppy session Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: elliot smith
Keywords: news, cnbc, companies, session, european, close, curve, german, major, inverted, stocks, fears, markets, yield, choppy, lower, dropped


European stocks close lower in choppy session

The pan-European Stoxx 600 finished the session provisionally down 0.33% in afternoon trade, autos leading losses with a 1.5% fall as the majority of sectors and major bourses dropped into the red. Utilities were the standout performers, gaining 0.7%.

European stocks traded lower Thursday amid a volatile session following a global sell-off as bond markets stoked fears of an impending recession.

Global markets were routed on Wednesday as the U.S. 2-year/10-year Treasury yield curve inverted for the first time since 2007, while the U.K. 2-year/10-year curve inverted for the first time in over a decade. Yield curve inversions are traditionally seen as indicators of an oncoming recession. German and French bond yields also hit record lows.

Weak economic data out of Germany and the euro zone compounded fears within Europe, with the German economy contracting in the second quarter.

Earlier, Asian stocks tumbled Thursday, led by the Japanese Nikkei 225, which fell 1.56%.

Stateside, the Dow Jones Industrial Average dropped over 800 points, posting its worst day of 2019 and falling to a two-month low. Shortly after the open Thursday, all three major indices were hovering unsteadily around the flat-line.


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: elliot smith
Keywords: news, cnbc, companies, session, european, close, curve, german, major, inverted, stocks, fears, markets, yield, choppy, lower, dropped


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European stocks close higher as US delays China tariffs on phones and clothing

European stocks reversed course on Tuesday, closing higher as investors reacted to news that the U.S. has delayed additional tariffs on some Chinese imports. Meanwhile, tariffs on electronic devices like phones and laptops and certain footwear and clothing will be delayed until December 15, the government agency said. In terms of individual stocks, steel and mining giant ArcelorMittal saw its shares climb sharply following the USTR’s announcement. At the other end was Henkel, which saw its share


European stocks reversed course on Tuesday, closing higher as investors reacted to news that the U.S. has delayed additional tariffs on some Chinese imports. Meanwhile, tariffs on electronic devices like phones and laptops and certain footwear and clothing will be delayed until December 15, the government agency said. In terms of individual stocks, steel and mining giant ArcelorMittal saw its shares climb sharply following the USTR’s announcement. At the other end was Henkel, which saw its share
European stocks close higher as US delays China tariffs on phones and clothing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: elliot smith
Keywords: news, cnbc, companies, rose, close, clothing, goods, higher, saw, delayed, certain, european, industrial, shares, phones, announcement, china, delays, tariffs, stocks


European stocks close higher as US delays China tariffs on phones and clothing

European stocks reversed course on Tuesday, closing higher as investors reacted to news that the U.S. has delayed additional tariffs on some Chinese imports.

The pan-European Stoxx 600 closed provisionally up 0.6%. Markets had traded lower earlier in the session. Trade-sensitive sectors like autos and basic resources were among the biggest gainers.

The U.S. Trade Representative office said on Tuesday that certain items would be removed from a list of goods set to be hit with a new 10% levy, citing “health, safety, national security and other factors.”

Meanwhile, tariffs on electronic devices like phones and laptops and certain footwear and clothing will be delayed until December 15, the government agency said. Europe’s technology sector was up 1% on the news.

In terms of individual stocks, steel and mining giant ArcelorMittal saw its shares climb sharply following the USTR’s announcement. The stock was up over 5%.

SalMar was the top performer in Europe, climbing almost 7% after DNB upgraded the Norwegian fish farm company to hold from sell.

At the other end was Henkel, which saw its shares slide 7% after lowering its full-year outlook for sales and earnings on Tuesday. The German consumer goods firm blamed disappointing performance at its beauty unit and falling industrial production.

On Wall Street, stocks rose as traders digested the USTR announcement. The Dow Jones Industrial Average jumped over 400 points while the tech-heavy Nasdaq index rose nearly 2%, led by Apple which got a boost from the news since many of its major products are produced in China.


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: elliot smith
Keywords: news, cnbc, companies, rose, close, clothing, goods, higher, saw, delayed, certain, european, industrial, shares, phones, announcement, china, delays, tariffs, stocks


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European stocks close lower amid trade war worries; Tullow Oil up 20%

Banks were the biggest fallers, led by a 5% slide for CYBG, while chemicals stocks were the best performers. Trade talks are set to resume in Washington in early September after a new 10% tariff on an additional $300 billion worth of Chinese goods comes into effect on September 1. President Donald Trump told reporters on Friday that the U.S. is not ready to strike a trade deal with China just yet. AMS stock plunged almost 12% while Osram shares leaped over 10% on the news. Meanwhile, Tullow Oil


Banks were the biggest fallers, led by a 5% slide for CYBG, while chemicals stocks were the best performers. Trade talks are set to resume in Washington in early September after a new 10% tariff on an additional $300 billion worth of Chinese goods comes into effect on September 1. President Donald Trump told reporters on Friday that the U.S. is not ready to strike a trade deal with China just yet. AMS stock plunged almost 12% while Osram shares leaped over 10% on the news. Meanwhile, Tullow Oil
European stocks close lower amid trade war worries; Tullow Oil up 20% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: elliot smith
Keywords: news, cnbc, companies, tullow, peso, close, amid, lower, set, european, osram, shares, worries, chinese, war, stoxx, president, trade, oil, stocks, talks


European stocks close lower amid trade war worries; Tullow Oil up 20%

The pan-European Stoxx 600 closed provisionally down nearly 0.3%. The index had posted an almost 1% gain earlier in the session. Banks were the biggest fallers, led by a 5% slide for CYBG, while chemicals stocks were the best performers.

The People’s Bank of China set the official midpoint reference for its yuan currency at 7.0211 per dollar on Monday, exceeding the psychological barrier of 7 per dollar for the third consecutive session.

Trade talks are set to resume in Washington in early September after a new 10% tariff on an additional $300 billion worth of Chinese goods comes into effect on September 1. President Donald Trump told reporters on Friday that the U.S. is not ready to strike a trade deal with China just yet.

On Wall Street, stocks fell as investor sentiment was knocked by concerns around slowing global economic growth. Goldman Sachs said on Sunday that fears of a recession as a result of the trade war are increasing, and the investment bank no longer expects a trade deal before the 2020 U.S. presidential election.

Elsewhere, the Argentinian peso sold off steeply Monday after the country’s center-right President Mauricio Macri performed poorly in primary elections.

Macri lost by a far greater margin than expected on Sunday, early official results showed, casting serious doubt over the incumbent’s re-election chances in October. The peso slipped more than 30% at one stage to a record low as traders demanded 65 to the U.S. dollar.

Hong Kong was also in focus as tensions between Chinese authorities and protesters escalated. Hong Kong International Airport, one of the world’s busiest terminals, was forced to cancel all departures on Monday amid mass disruption due to anti-government protests.

Back in Europe, Trump’s national security advisor John Bolton arrived in London Sunday for talks where he is expected to urge Britain to take a tougher stance on Iran and Chinese telecommunications firm Huawei.

Investors will also have an eye on political developments in Italy after Deputy Prime Minister Matteo Salvini’s Lega party filed a no-confidence motion to bring down the government on Friday.

In corporate news, Apple supplier AMS said Sunday that it has made an all-cash takeover offer of 38.5 euros ($43.15) per share for German lighting group Osram Licht. AMS stock plunged almost 12% while Osram shares leaped over 10% on the news.

Meanwhile, Tullow Oil shares surged 20% to lead the Stoxx 600 after it announced a major oil discovery in Guyana.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: elliot smith
Keywords: news, cnbc, companies, tullow, peso, close, amid, lower, set, european, osram, shares, worries, chinese, war, stoxx, president, trade, oil, stocks, talks


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Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone


Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone
Major Asia Pacific markets higher; trade war concerns dampen investor sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, dampen, close, investor, markets, pacific, higher, tumbled, week, shares, concerns, trade, war, losses, sentiment, hong, major


Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment.

Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. The Shanghai composite traded up 1.45% to close at 2,814.99 while the Shenzhen composite added 1.92% to 1,508.21. Hong Kong’s Hang Seng index was fractionally higher at 25,962.42 as of 3:15 p.m. HK/SIN.

But, shares of Hong Kong flag carrier Cathay Pacific tumbled more than 4% as of 3:15 p.m. HK/SIN after it suspended a pilot for his involvement in the ongoing anti-government protests in the city. The carrier said “overly radical” staff would be barred from crewing flights to the mainland. Cathay’s decision came a day after China’s aviation authority issued a “major aviation safety risk warning” to the airline.

Unrest in Hong Kong continued into its 10th week, with police and protesters clashing on Sunday.

Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays.

Australia’s benchmark S&P/ASX 200 retraced some of its early losses to climb marginally higher to 6,590.30. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%.

In South Korea, the Kospi clawed back losses to rise 0.23% to close at 1,942,29.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.

“Trade tensions continued to drive financial market moves going into the end of the week, with markets very sensitive to reports on the US-China relationship,” Jack Chambers from ANZ Research wrote in a Monday morning note. “A risk-off tone hit the markets as President Trump warned that talks scheduled for next month may not take place.”


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, dampen, close, investor, markets, pacific, higher, tumbled, week, shares, concerns, trade, war, losses, sentiment, hong, major


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Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone


Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone
Major Asia Pacific markets higher; trade war concerns dampen investor sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, pacific, concerns, sentiment, trade, major, higher, war, losses, week, markets, tumbled, close, shares, hong, investor, dampen


Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment.

Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. The Shanghai composite traded up 1.45% to close at 2,814.99 while the Shenzhen composite added 1.92% to 1,508.21. Hong Kong’s Hang Seng index was fractionally higher at 25,962.42 as of 3:15 p.m. HK/SIN.

But, shares of Hong Kong flag carrier Cathay Pacific tumbled more than 4% as of 3:15 p.m. HK/SIN after it suspended a pilot for his involvement in the ongoing anti-government protests in the city. The carrier said “overly radical” staff would be barred from crewing flights to the mainland. Cathay’s decision came a day after China’s aviation authority issued a “major aviation safety risk warning” to the airline.

Unrest in Hong Kong continued into its 10th week, with police and protesters clashing on Sunday.

Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays.

Australia’s benchmark S&P/ASX 200 retraced some of its early losses to climb marginally higher to 6,590.30. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%.

In South Korea, the Kospi clawed back losses to rise 0.23% to close at 1,942,29.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.

“Trade tensions continued to drive financial market moves going into the end of the week, with markets very sensitive to reports on the US-China relationship,” Jack Chambers from ANZ Research wrote in a Monday morning note. “A risk-off tone hit the markets as President Trump warned that talks scheduled for next month may not take place.”


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, pacific, concerns, sentiment, trade, major, higher, war, losses, week, markets, tumbled, close, shares, hong, investor, dampen


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Bond market close to sending biggest recession signal yet

As Wall Street economists up the odds for a recession in the coming year, the bond market is sending its own scary warning about an economic downturn. Various parts of the yield curve have been inverted, but the traditionally watched 2-year to 10-year spread looks set to invert any day now, with the curve at its flattest level since 2007. The 10-year yield, at its low yield of 1.64% Monday came less than 6 basis points above the 2-year yield, which was at 1.58% in afternoon trading. An inverted


As Wall Street economists up the odds for a recession in the coming year, the bond market is sending its own scary warning about an economic downturn. Various parts of the yield curve have been inverted, but the traditionally watched 2-year to 10-year spread looks set to invert any day now, with the curve at its flattest level since 2007. The 10-year yield, at its low yield of 1.64% Monday came less than 6 basis points above the 2-year yield, which was at 1.58% in afternoon trading. An inverted
Bond market close to sending biggest recession signal yet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: patti domm
Keywords: news, cnbc, companies, signal, bond, sending, market, spread, recession, inverted, yield, 10year, economists, 3month, biggest, fed, curve, points, close


Bond market close to sending biggest recession signal yet

As Wall Street economists up the odds for a recession in the coming year, the bond market is sending its own scary warning about an economic downturn.

Various parts of the yield curve have been inverted, but the traditionally watched 2-year to 10-year spread looks set to invert any day now, with the curve at its flattest level since 2007.

The 10-year yield, at its low yield of 1.64% Monday came less than 6 basis points above the 2-year yield, which was at 1.58% in afternoon trading. The spread broke below 10 basis points last week. An inverted curve simply means a shorter-term interest rate is higher than the longer-term one that it is being compared too, and that inversion has been a reliable recession signal.

“It’s the whole idea that the Fed is making a mistake. There’s more fear that the Fed is going to be slow in making moves, and the economy is going to to into recession,” said Andrew Brenner, National Alliance head of international fixed income.

The Fed watches the 3-month bill and the 10-year which has been inverted, but the markets traditionally have watched the 10-year and the yield on the 2-year, which is influenced by Fed policy.

“I don’t know if it matters more than the 3-month to the 10-year, but you can call it the final nail in this whole yield curve inversion discussion,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group.

Economists lately have been more concerned about the chances for a recession. Bank of America Merrill Lynch economists said they see odds for a recession now at a 1-in-3 chance in the next 12 months, and Goldman Sachs economists lowered their forecast for fourth quarter growth to 1.8% and said fears of a recession are growing because of the trade war.

The spread between the 3-month Treasury bill and the 10-year note has been inverted with the 3-month bill yielding about 35 basis points more. The benchmark 10-year note yield has been falling as global interest rates decline in a flight-to-safety play and on worries about economic growth.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: patti domm
Keywords: news, cnbc, companies, signal, bond, sending, market, spread, recession, inverted, yield, 10year, economists, 3month, biggest, fed, curve, points, close


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Apple canceled AirPower, but a partner built something pretty close

Apple cancelled its wireless charging mat, called AirPower, in March. It was supposed to charge an iPhone, AirPods and the Apple Watch at the same time. Mophie on Friday announced the 3-in-1 wireless charging pad that can wirelessly power AirPods, an Apple Watch and an iPhone at the same time. Unlike Apple’s design, which appeared more seamless and would have allowed you to rest the Apple Watch on AirPower, Mophie’s has a dedicated and traditional Apple Watch stand. The pad costs $139.95 and is


Apple cancelled its wireless charging mat, called AirPower, in March. It was supposed to charge an iPhone, AirPods and the Apple Watch at the same time. Mophie on Friday announced the 3-in-1 wireless charging pad that can wirelessly power AirPods, an Apple Watch and an iPhone at the same time. Unlike Apple’s design, which appeared more seamless and would have allowed you to rest the Apple Watch on AirPower, Mophie’s has a dedicated and traditional Apple Watch stand. The pad costs $139.95 and is
Apple canceled AirPower, but a partner built something pretty close Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: todd haselton
Keywords: news, cnbc, companies, built, devices, close, power, wireless, website, sell, pretty, partner, airpower, canceled, apple, charging, apples, stores, watch


Apple canceled AirPower, but a partner built something pretty close

Apple cancelled its wireless charging mat, called AirPower, in March. It was supposed to charge an iPhone, AirPods and the Apple Watch at the same time.

Now, Mophie will sell the next-best thing for Apple. It’s wireless charger that can power all three devices, but with a different design.

Mophie on Friday announced the 3-in-1 wireless charging pad that can wirelessly power AirPods, an Apple Watch and an iPhone at the same time.

Unlike Apple’s design, which appeared more seamless and would have allowed you to rest the Apple Watch on AirPower, Mophie’s has a dedicated and traditional Apple Watch stand. The pad costs $139.95 and is available from Apple and Mophie’s websites now, but will also be available in Apple Stores beginning next week.

The mat provides 7.5W of power for wireless devices that use the Qi standard, which means it will work with both iPhones and Android phones, or any product that uses Qi charging. However, it doesn’t support up to 15W of power, which some Android devices can use to charge even faster.

Other companies, like Nomad, sell similar products for the same price, but they don’t have the same placement on Apple’s website, which gives Mophie a leg up among people who shop in Apple Stores and on Apple’s website for accessories.


Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: todd haselton
Keywords: news, cnbc, companies, built, devices, close, power, wireless, website, sell, pretty, partner, airpower, canceled, apple, charging, apples, stores, watch


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Broadcom is close to buying Symantec’s enterprise business

Broadcom is close to a deal to buy cybersecurity firm Symantec’s enterprise business after negotiations to acquire the whole company fell apart last month, sources tell CNBC’s David Faber. The deal, expected to be announced after market’s close Thursday, could value the Symantec’s enterprise division at around $10 billion, sources said. Chipmaker Broadcom sees at least $1 billion in synergies, according to sources. The two companies ceased deal negotiations in July as Symantec would not accept l


Broadcom is close to a deal to buy cybersecurity firm Symantec’s enterprise business after negotiations to acquire the whole company fell apart last month, sources tell CNBC’s David Faber. The deal, expected to be announced after market’s close Thursday, could value the Symantec’s enterprise division at around $10 billion, sources said. Chipmaker Broadcom sees at least $1 billion in synergies, according to sources. The two companies ceased deal negotiations in July as Symantec would not accept l
Broadcom is close to buying Symantec’s enterprise business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: yun li
Keywords: news, cnbc, companies, sources, reported, billion, broadcom, close, negotiations, buying, wall, symantecs, enterprise, business, deal


Broadcom is close to buying Symantec's enterprise business

Broadcom is close to a deal to buy cybersecurity firm Symantec’s enterprise business after negotiations to acquire the whole company fell apart last month, sources tell CNBC’s David Faber.

The deal, expected to be announced after market’s close Thursday, could value the Symantec’s enterprise division at around $10 billion, sources said. Chipmaker Broadcom sees at least $1 billion in synergies, according to sources.

The two companies ceased deal negotiations in July as Symantec would not accept less than $28 a share, Faber previously reported. The Wall Street Journal first reported the new deal.

Broadcom bought CA Technologies for $19 billion last year and tried to purchase Qualcomm before the U.S. Department of Justice blocked the deal.


Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: yun li
Keywords: news, cnbc, companies, sources, reported, billion, broadcom, close, negotiations, buying, wall, symantecs, enterprise, business, deal


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Trump says he’ll call Congress back to Washington if GOP and Dems get ‘close’ on gun reform plan

US President Donald Trump speaks to the press as he departs the White House in Washington, DC, on August 7 2019. And let’s say all good people, but two sides are very different,” Trump told reporters outside the White House. “I’m looking to do background checks, I think background checks are important,” he said. He added that “I think both Republicans and Democrats are getting close” to “doing something on background checks.” Neither a spokesman for McConnell nor the White House immediately resp


US President Donald Trump speaks to the press as he departs the White House in Washington, DC, on August 7 2019. And let’s say all good people, but two sides are very different,” Trump told reporters outside the White House. “I’m looking to do background checks, I think background checks are important,” he said. He added that “I think both Republicans and Democrats are getting close” to “doing something on background checks.” Neither a spokesman for McConnell nor the White House immediately resp
Trump says he’ll call Congress back to Washington if GOP and Dems get ‘close’ on gun reform plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: kevin breuninger, jessica bursztynsky
Keywords: news, cnbc, companies, plan, white, congress, reform, washington, background, dems, president, house, texas, checks, senate, gun, trump, close, gop, hell


Trump says he'll call Congress back to Washington if GOP and Dems get 'close' on gun reform plan

US President Donald Trump speaks to the press as he departs the White House in Washington, DC, on August 7 2019.

President Donald Trump on Wednesday said that he will bring lawmakers back to Washington from their August recess if Republicans and Democrats can “get close” on a gun reform proposal.

Trump, en route to visit the Ohio and Texas cities in which back-to-back mass shootings over the weekend left 31 dead, also pledged his support for background checks and “red flag” laws preventing mentally ill people from accessing firearms.

“We’re going to see where we are. We’re dealing with leadership right now. And you know, you have two sides that are very different on this issue. And let’s say all good people, but two sides are very different,” Trump told reporters outside the White House.

“If we get close, I will bring them back, but it has to be — you know, we have to see where we are with leadership. Normally, this has been really a decision — Congress gets together and they try to do something, but if you look over the last 30 years, not a lot has been done,” Trump said.

The president and first lady Melania Trump were traveling to Dayton, Ohio, and El Paso, Texas, to meet with first responders, survivors and victims’ families following the two deadly mass shootings. Some Democrats, including presidential candidates such as former Texas Rep. Beto O’Rourke, have said that Trump’s rhetoric bears at least some of the blame for the shootings.

Trump tweeted in response that O’Rourke “should respect the victims & law enforcement – & be quiet!”

A gunman toting an AK-47-style assault rifle and extra magazines of ammunition killed 22 people and injured dozens more at an El Paso Walmart on Saturday morning, after apparently posting a racist screed on an anonymous online messaging board. Police have detained suspect Patrick Crusius, a 21-year-old white male.

The Dayton gunman, armed with an AR 15-style rifle, killed nine people in an entertainment district hours later, including his own sister. That shooter, identified as 24-year-old Connor Betts, was killed by officers less than a minute after his attack began, police said.

Trump told reporters Wednesday that he supported background checks for gun purchases.

“I’m looking to do background checks, I think background checks are important,” he said. “I don’t want to put guns into the hands of mentally unstable people or people with rage or hate, sick people. I’m all in favor of it.”

He added that “I think both Republicans and Democrats are getting close” to “doing something on background checks.”

In fact, the Democrat-led House passed a gun control bill that would strengthen background checks months earlier, but Senate Majority Leader Mitch McConnell has not brought the legislation to the Senate for a vote.

In a statement Monday, McConnell said that “Only serious, bipartisan, bicameral efforts will enable us to continue this important work and produce further legislation that can pass the Senate, pass the House, and earn the president’s signature. Partisan theatrics and campaign-trail rhetoric will only take us farther away from the progress all Americans deserve.”

Neither a spokesman for McConnell nor the White House immediately responded to CNBC’s inquiries about the president’s comments.

Many Republicans have signaled their support for red flag laws, also known as extreme risk protection orders. But Senate Minority Leader Chuck Schumer, D-N.Y., said in a statement Wednesday that without “strong universal background checks” in place, red flag laws alone “won’t be fully effective.”

“The notion that passing a tepid version of an Extreme Risk Protection Order (ERPO) bill—alone—is even close to getting the job done in addressing rampant gun violence in the U.S. is wrong and would be an ineffective cop out,” Schumer said.

Trump also said there was no “political appetite” for legislation to ban assault weapons. A federal assault weapons ban had been signed into law in 1994 by President Bill Clinton, but was allowed to expire in 2004 under President George W. Bush.


Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: kevin breuninger, jessica bursztynsky
Keywords: news, cnbc, companies, plan, white, congress, reform, washington, background, dems, president, house, texas, checks, senate, gun, trump, close, gop, hell


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26 Sears, Kmart stores are set to close in October, company ‘cannot rule out’ more closures this year

More Sears and Kmart stores are set to go dark, as the brands’ new parent company, TransformCo, fights to keep the once-bankrupt business afloat. The company announced on its website Monday evening that 26 additional Sears and Kmart stores will close in late October, ranging from locations in California to Texas to Virginia. The Sears Auto Centers at certain locations will start closing later this month. TransformCo added it “cannot rule out additional store closures in the near term.” These cha


More Sears and Kmart stores are set to go dark, as the brands’ new parent company, TransformCo, fights to keep the once-bankrupt business afloat. The company announced on its website Monday evening that 26 additional Sears and Kmart stores will close in late October, ranging from locations in California to Texas to Virginia. The Sears Auto Centers at certain locations will start closing later this month. TransformCo added it “cannot rule out additional store closures in the near term.” These cha
26 Sears, Kmart stores are set to close in October, company ‘cannot rule out’ more closures this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: lauren thomas
Keywords: news, cnbc, companies, sears, close, levels, 26, closures, website, additional, company, worked, locations, rule, kmart, stores, set, challenges


26 Sears, Kmart stores are set to close in October, company 'cannot rule out' more closures this year

More Sears and Kmart stores are set to go dark, as the brands’ new parent company, TransformCo, fights to keep the once-bankrupt business afloat.

The company announced on its website Monday evening that 26 additional Sears and Kmart stores will close in late October, ranging from locations in California to Texas to Virginia. (See a complete list of locations below.) Liquidation sales will begin around Aug. 15, the company said. The Sears Auto Centers at certain locations will start closing later this month.

TransformCo added it “cannot rule out additional store closures in the near term.”

“Over the past several months, we have worked hard to strengthen our vendor relationships, return our inventory levels to normal, and improve customer satisfaction and operations; however, we have faced a number of challenges returning our stores to sustainable levels of productivity, including differences with Sears Holdings over our purchase agreement and a generally weak retail environment. These challenges have unfortunately affected our performance and limited our strategic choices,” the company said.


Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: lauren thomas
Keywords: news, cnbc, companies, sears, close, levels, 26, closures, website, additional, company, worked, locations, rule, kmart, stores, set, challenges


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