British regulator says it could block Sainsbury’s-Asda deal

Britain’s competition regulator said Sainsbury’s $9.5 billion takeover of Walmart-owned Asda should either be blocked entirely or require the sale of a significant number of stores, or even one of the brands. It also had concerns that prices could rise at a large number of Sainsbury’s and Asda petrol stations. Sainsbury’s, Britain’s second biggest supermarket behind Tesco, said it fundamentally disagreed with the findings. “The CMA has moved the goalposts and its analysis is inconsistent with co


Britain’s competition regulator said Sainsbury’s $9.5 billion takeover of Walmart-owned Asda should either be blocked entirely or require the sale of a significant number of stores, or even one of the brands. It also had concerns that prices could rise at a large number of Sainsbury’s and Asda petrol stations. Sainsbury’s, Britain’s second biggest supermarket behind Tesco, said it fundamentally disagreed with the findings. “The CMA has moved the goalposts and its analysis is inconsistent with co
British regulator says it could block Sainsbury’s-Asda deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20
Keywords: news, cnbc, companies, british, concerns, britains, prices, number, asda, competition, cma, block, deal, findings, sainsburys, regulator, sainsburysasda, experience


British regulator says it could block Sainsbury's-Asda deal

Britain’s competition regulator said Sainsbury’s $9.5 billion takeover of Walmart-owned Asda should either be blocked entirely or require the sale of a significant number of stores, or even one of the brands.

The Competition and Markets Authority said on Wednesday its current view was “that it is likely to be difficult for the companies to address the concerns it has identified”.

In its provisional findings, the CMA said the deal could lead to a worse experience for in-store and online shoppers through higher prices, a poorer shopping experience and reductions in the range and quality of products offered.

It also had concerns that prices could rise at a large number of Sainsbury’s and Asda petrol stations.

Sainsbury’s, Britain’s second biggest supermarket behind Tesco, said it fundamentally disagreed with the findings.

“The CMA has moved the goalposts and its analysis is inconsistent with comparable cases,” it said in a statement.

“We will be working to understand the rationale behind these findings and will continue to make our case in the coming weeks.”


Company: cnbc, Activity: cnbc, Date: 2019-02-20
Keywords: news, cnbc, companies, british, concerns, britains, prices, number, asda, competition, cma, block, deal, findings, sainsburys, regulator, sainsburysasda, experience


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People are pumping young blood into their bodies to reverse aging, but the FDA says don’t do it

The Food and Drug Administration is discouraging people from being infused with young blood, a procedure that’s becoming increasingly common but hasn’t been proven to have medical benefits. People are infused with blood plasma donated from young people. Young blood infusions have not gone through this testing. The agency is concerned with how much young plasma these clinics are pumping into patients. It’s starting with a warning to consumers because the agency’s has immediate concerns, Gottlieb


The Food and Drug Administration is discouraging people from being infused with young blood, a procedure that’s becoming increasingly common but hasn’t been proven to have medical benefits. People are infused with blood plasma donated from young people. Young blood infusions have not gone through this testing. The agency is concerned with how much young plasma these clinics are pumping into patients. It’s starting with a warning to consumers because the agency’s has immediate concerns, Gottlieb
People are pumping young blood into their bodies to reverse aging, but the FDA says don’t do it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: angelica lavito, getty images
Keywords: news, cnbc, companies, concerns, fda, gottlieb, pumping, works, bodies, blood, plasma, infusions, aging, procedure, reverse, dont, treatments, young


People are pumping young blood into their bodies to reverse aging, but the FDA says don't do it

The Food and Drug Administration is discouraging people from being infused with young blood, a procedure that’s becoming increasingly common but hasn’t been proven to have medical benefits.

The procedure works like it sounds. People are infused with blood plasma donated from young people. Some clinics claim the procedure works like a fountain of youth to reverse aging and memory loss or even treat diseases like dementia, Parkinson’s disease, multiple sclerosis, Alzheimer’s, heart disease or post-traumatic stress disorder.

Companies typically charge thousands of dollars for the treatments. That concerns the FDA, which says these infusions are “unproven and not guided by evidence from adequate and well-controlled trials.”

“Simply infusing plasma is not a benign intervention and should not be used in such cavalier fashion,” FDA Commissioner Scott Gottlieb told CNBC in a phone interview Tuesday.

New treatments must undergo numerous studies to demonstrate whether they’re safe and effective. The FDA reviews and scrutinizes the data before determining whether treatments can enter the market.

Young blood infusions have not gone through this testing. The FDA does not recognize plasma to treat aging, memory loss or other diseases. Therefore, consumers should not assume them to be safe or effective, Gottlieb said.

“We have a lot of public health concerns. This is not an appropriate use of plasma,” he said.

In addition to there being “no compelling clinical evidence on its efficacy,” the FDA says there’s no information on the appropriate dosing. The agency is concerned with how much young plasma these clinics are pumping into patients. Large volumes of plasma can be associated with “significant risks,” including infections, allergies and respiratory and cardiovascular reactions, Gottlieb said.

The agency may pursue enforcement actions against companies offering these infusions, a process that can take months. It’s starting with a warning to consumers because the agency’s has immediate concerns, Gottlieb said.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: angelica lavito, getty images
Keywords: news, cnbc, companies, concerns, fda, gottlieb, pumping, works, bodies, blood, plasma, infusions, aging, procedure, reverse, dont, treatments, young


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Privacy concerns rise as 26 million share DNA with ancestry firms

Ancestry and 23andMe are the two main players in the genetic and ancestry testing business, with Ancestry collecting 14 million DNA samples as of Jan. 1 and 23andMe collecting 9 million samples. The other companies reported a combined total of 3.5 million samples collected. In order to calculate 2019 results, MIT Technology Review used Ancestry’s data reported Nov. 29, 2018. MIT said the four biggest ancestry companies have previously promised they wouldn’t let police search their databases with


Ancestry and 23andMe are the two main players in the genetic and ancestry testing business, with Ancestry collecting 14 million DNA samples as of Jan. 1 and 23andMe collecting 9 million samples. The other companies reported a combined total of 3.5 million samples collected. In order to calculate 2019 results, MIT Technology Review used Ancestry’s data reported Nov. 29, 2018. MIT said the four biggest ancestry companies have previously promised they wouldn’t let police search their databases with
Privacy concerns rise as 26 million share DNA with ancestry firms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: jessica bursztynsky, getty images
Keywords: news, cnbc, companies, data, million, firms, share, concerns, according, samples, 26, technology, privacy, genetic, mit, ancestry, rise, dna, companies


Privacy concerns rise as 26 million share DNA with ancestry firms

More than 26 million people — more people than in all of Australia — have shared their DNA with one of the four leading ancestry and health databases, allowing researchers to extrapolate data on virtually all Americans and raising some serious privacy concerns, according to the MIT Technology Review.

Consumers purchased the same number of at-home DNA tests in 2018 as in all previous years since 2012 combined, according to the publication. If the trend continues, the companies could house the genetic information of over 100 million people — about a third of the U.S. population — within two years.

“For consumers, the tests — which cost as little as $59 — offer entertainment, clues to ancestry, and a chance of discovering family secrets, such as siblings you didn’t know about,” according to MIT Technology Review. “But the consequences for privacy go well beyond that. As these databases grow, they have made it possible to trace the relationships between nearly all Americans, including those who never purchased a test.”

Ancestry and 23andMe are the two main players in the genetic and ancestry testing business, with Ancestry collecting 14 million DNA samples as of Jan. 1 and 23andMe collecting 9 million samples. The other companies reported a combined total of 3.5 million samples collected.

“We have noticed an increasing number of people becoming interested in genetic testing,” said Jon Ward, vice president of consumer marketing and acquisition at 23andMe. “Consumers are interested in discovering a range of information about themselves, from learning more of their background and where their ancestors came from, to identifying lost relatives or learning more about their health.”

MIT Technology Review used public statements from ancestry companies, data maintained by the International Society of Genetic Genealogy, data tracked by a genealogy blogger and its own reporting to count total users. The companies don’t release numbers at the same time, so MIT picked numbers released closest to Jan. 1.

In order to calculate 2019 results, MIT Technology Review used Ancestry’s data reported Nov. 29, 2018. But that data lacks Christmas season sales, which could have added around a million people, according to the article.

Police have used DNA results from an ancestry company database to identify criminals. Most notably, in 2018, investigators cited such data when they named Joseph James DeAngelo Jr., 72, a former police officer, as the Golden State Killer, who murdered at least 12 people and raped 45 in California in the 1970s and ’80s. DeAngelo was arrested and faces murder charges.

MIT said the four biggest ancestry companies have previously promised they wouldn’t let police search their databases without a warrant. But Family Tree DNA recently changed its policy and allowed the FBI to upload DNA samples from crime scenes, according to the MIT publication.

“The unilateral change in policy — which users weren’t alerted to — is troubling because it means that our DNA, just like our posts on social media or our location data, is at the mercy of user agreements none of us have any control over or even bother to read,” the MIT publication said.

Of course, there are things you can’t unlearn. 23andMe’s privacy statement warns: “You may discover things about yourself and/or your family members that may be upsetting or cause anxiety and that you may not have the ability to control or change.”

A spokeswoman for Ancestry declined to comment for this story.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: jessica bursztynsky, getty images
Keywords: news, cnbc, companies, data, million, firms, share, concerns, according, samples, 26, technology, privacy, genetic, mit, ancestry, rise, dna, companies


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Privacy concerns rise as 26 million share DNA with ancestry firms

Ancestry and 23andMe are the two main players in the genetic and ancestry testing business, with Ancestry collecting 14 million DNA samples as of Jan. 1 and 23andMe collecting 9 million samples. The other companies reported a combined total of 3.5 million samples collected. In order to calculate 2019 results, MIT Technology Review used Ancestry’s data reported Nov. 29, 2018. MIT said the four biggest ancestry companies have previously promised they wouldn’t let police search their databases with


Ancestry and 23andMe are the two main players in the genetic and ancestry testing business, with Ancestry collecting 14 million DNA samples as of Jan. 1 and 23andMe collecting 9 million samples. The other companies reported a combined total of 3.5 million samples collected. In order to calculate 2019 results, MIT Technology Review used Ancestry’s data reported Nov. 29, 2018. MIT said the four biggest ancestry companies have previously promised they wouldn’t let police search their databases with
Privacy concerns rise as 26 million share DNA with ancestry firms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: jessica bursztynsky, getty images
Keywords: news, cnbc, companies, technology, dna, concerns, genetic, share, samples, according, million, mit, companies, ancestry, data, rise, privacy, 26, firms


Privacy concerns rise as 26 million share DNA with ancestry firms

More than 26 million people — more people than in all of Australia — have shared their DNA with one of the four leading ancestry and health databases, allowing researchers to extrapolate data on virtually all Americans and raising some serious privacy concerns, according to the MIT Technology Review.

Consumers purchased the same number of at-home DNA tests in 2018 as in all previous years since 2012 combined, according to the publication. If the trend continues, the companies could house the genetic information of over 100 million people — about a third of the U.S. population — within two years.

“For consumers, the tests — which cost as little as $59 — offer entertainment, clues to ancestry, and a chance of discovering family secrets, such as siblings you didn’t know about,” according to MIT Technology Review. “But the consequences for privacy go well beyond that. As these databases grow, they have made it possible to trace the relationships between nearly all Americans, including those who never purchased a test.”

Ancestry and 23andMe are the two main players in the genetic and ancestry testing business, with Ancestry collecting 14 million DNA samples as of Jan. 1 and 23andMe collecting 9 million samples. The other companies reported a combined total of 3.5 million samples collected.

“We have noticed an increasing number of people becoming interested in genetic testing,” said Jon Ward, vice president of consumer marketing and acquisition at 23andMe. “Consumers are interested in discovering a range of information about themselves, from learning more of their background and where their ancestors came from, to identifying lost relatives or learning more about their health.”

MIT Technology Review used public statements from ancestry companies, data maintained by the International Society of Genetic Genealogy, data tracked by a genealogy blogger and its own reporting to count total users. The companies don’t release numbers at the same time, so MIT picked numbers released closest to Jan. 1.

In order to calculate 2019 results, MIT Technology Review used Ancestry’s data reported Nov. 29, 2018. But that data lacks Christmas season sales, which could have added around a million people, according to the article.

Police have used DNA results from an ancestry company database to identify criminals. Most notably, in 2018, investigators cited such data when they named Joseph James DeAngelo Jr., 72, a former police officer, as the Golden State Killer, who murdered at least 12 people and raped 45 in California in the 1970s and ’80s. DeAngelo was arrested and faces murder charges.

MIT said the four biggest ancestry companies have previously promised they wouldn’t let police search their databases without a warrant. But Family Tree DNA recently changed its policy and allowed the FBI to upload DNA samples from crime scenes, according to the MIT publication.

“The unilateral change in policy — which users weren’t alerted to — is troubling because it means that our DNA, just like our posts on social media or our location data, is at the mercy of user agreements none of us have any control over or even bother to read,” the MIT publication said.

Of course, there are things you can’t unlearn. 23andMe’s privacy statement warns: “You may discover things about yourself and/or your family members that may be upsetting or cause anxiety and that you may not have the ability to control or change.”

A spokeswoman for Ancestry declined to comment for this story.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: jessica bursztynsky, getty images
Keywords: news, cnbc, companies, technology, dna, concerns, genetic, share, samples, according, million, mit, companies, ancestry, data, rise, privacy, 26, firms


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Dow futures point to a lower open as trade, political concerns linger

U.S. stock index futures were lower Monday morning, as investors monitored trade talks and political developments. ET, Dow futures slipped 31 points, indicating a negative open of more than 32 points. On Friday, Wall Street closed lower on the back of concerns over the ongoing trade war and slower economic growth concerns. Everest Re, FMC Corporation and Livent Corporation are among those scheduled to publish results after market close. There are no major economic reports scheduled on Monday.


U.S. stock index futures were lower Monday morning, as investors monitored trade talks and political developments. ET, Dow futures slipped 31 points, indicating a negative open of more than 32 points. On Friday, Wall Street closed lower on the back of concerns over the ongoing trade war and slower economic growth concerns. Everest Re, FMC Corporation and Livent Corporation are among those scheduled to publish results after market close. There are no major economic reports scheduled on Monday.
Dow futures point to a lower open as trade, political concerns linger Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: silvia amaro
Keywords: news, cnbc, companies, scheduled, trade, point, concerns, democrats, political, corporation, linger, futures, reports, dow, points, economic, open, lower


Dow futures point to a lower open as trade, political concerns linger

U.S. stock index futures were lower Monday morning, as investors monitored trade talks and political developments.

At around 1:45 a.m. ET, Dow futures slipped 31 points, indicating a negative open of more than 32 points. Futures on the S&P and Nasdaq were also seen relatively downbeat.

On Friday, Wall Street closed lower on the back of concerns over the ongoing trade war and slower economic growth concerns. The sentiment has continued onto Monday, ahead of further trade meetings between the U.S. and the Chinese administrations later this week. Time is running out ahead of the self-imposed deadlines of March 2. Failure to reach an agreement will raise U.S. tariffs on $200 billion worth of Chinese to 25 percent from 10 percent.

There is also a growing focus on a potential second government shutdown, given that Democrats and Republicans remain at odds over border policy. President Donald Trump tweeted this weekend “I actually believe they (Democrats) want a shutdown.”

Meanwhile, traders will monitor further earnings reports. Restaurant Brands International, CNA Financial Corporation and Kemper are among those expected to report their latest quarterly figures before the opening bell.

Everest Re, FMC Corporation and Livent Corporation are among those scheduled to publish results after market close.

There are no major economic reports scheduled on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: silvia amaro
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Oil prices fall as U.S. rig count rise, trade concerns

Oil prices fell by around 1 percent on Monday as drilling activity in the United States, the world’s largest oil producer, picked up and financial markets were pulled down by trade concerns. International Brent crude oil futures were down 49 cents, or 0.8 percent, at $61.61 a barrel. Analysts said economic concerns were also weighing on crude oil futures. The United States has threatened to increase tariffs already imposed on goods from China on March 1 if the trade talks do not produce an agree


Oil prices fell by around 1 percent on Monday as drilling activity in the United States, the world’s largest oil producer, picked up and financial markets were pulled down by trade concerns. International Brent crude oil futures were down 49 cents, or 0.8 percent, at $61.61 a barrel. Analysts said economic concerns were also weighing on crude oil futures. The United States has threatened to increase tariffs already imposed on goods from China on March 1 if the trade talks do not produce an agree
Oil prices fall as U.S. rig count rise, trade concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: jean-paul pelissier
Keywords: news, cnbc, companies, trade, concerns, deal, crude, prices, rise, states, count, fall, markets, oil, united, rig, week, china


Oil prices fall as U.S. rig count rise, trade concerns

Oil prices fell by around 1 percent on Monday as drilling activity in the United States, the world’s largest oil producer, picked up and financial markets were pulled down by trade concerns.

A refinery fire in the U.S. state of Illinois, which resulted in the shutdown of a large crude distillation unit, that could cause crude demand to fall also weighed on prices, traders said.

U.S. West Texas Intermediate (WTI) crude futures were at $52.09 per barrel at 0347 GMT, down 63 cents, or 1.2 percent, from their last settlement.

International Brent crude oil futures were down 49 cents, or 0.8 percent, at $61.61 a barrel.

In the United States, energy firms last week increased the number of oil rigs operating for the second time in three weeks, a weekly report by Baker Hughes said on Friday.

Companies added seven oil rigs in the week to Feb. 8, bringing the total count to 854, pointing to a further rise in U.S. crude production, which already stands at a record 11.9 million bpd.

WTI prices were also weighed down by the closure of a 120,000-barrels-per-day (bpd) crude distillation unit (CDU) at Phillips 66’s Wood River, Illinois, refinery following a fire on Sunday.

Elsewhere, the head of Russian oil giant Rosneft, Igor Sechin, has written to the Russian President Vladimir Putin saying Moscow’s deal with the Organization of the Petroleum Exporting Countries (OPEC) to withhold output is a strategic threat and plays into the hands of the United States.

The so-called OPEC+ deal has been in place since 2017, aimed at reining in a global supply overhang. It has been extended several times and, under the latest deal, participants are cutting output by 1.2 million bpd until the end of June.

OPEC and its allies will meet on April 17 and 18 in Vienna to review the pact.

Analysts said economic concerns were also weighing on crude oil futures.

Vandana Hari of Vanda Insights said in a note that crude prices were dragged down “as China returned from a week-long Lunar New Year holiday and regional stock markets plunged into the red amid resurgent concerns over the U.S.-China trade dispute.”

Trade talks between the Washington and Beijing resume this week with a delegation of U.S. officials travelling to China for the next round of negotiations. The United States has threatened to increase tariffs already imposed on goods from China on March 1 if the trade talks do not produce an agreement.

Preventing crude prices from falling further have been U.S. sanctions on Venezuela, targeting its state-owned oil firm Petroleos de Venezeula SA (PDVSA).

“The issues in Venezuela continue to support prices. Reports are emerging that PDVSA is scrambling to secure new markets for its crude, after the U.S. placed additional sanctions on the country,” ANZ bank said on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: jean-paul pelissier
Keywords: news, cnbc, companies, trade, concerns, deal, crude, prices, rise, states, count, fall, markets, oil, united, rig, week, china


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Tesla shares jump after Canaccord Genuity upgrades the stock and predicts 40% rally from here

Canaccord upgraded Tesla to buy from hold and raised its 12-month price target to $450 from $330. “The EV penetration story is underappreciated by the Street,” wrote analyst Jed Dorsheimer in a note to clients Monday. Canaccord’s new 12-month price target represents a gain of 47 percent from here. The stock jumped 2 percent in premarket trading Monday amid the Canaccord call. The shares fell at the end of January after the company posted a fourth-quarter profit that fell short of Wall Street exp


Canaccord upgraded Tesla to buy from hold and raised its 12-month price target to $450 from $330. “The EV penetration story is underappreciated by the Street,” wrote analyst Jed Dorsheimer in a note to clients Monday. Canaccord’s new 12-month price target represents a gain of 47 percent from here. The stock jumped 2 percent in premarket trading Monday amid the Canaccord call. The shares fell at the end of January after the company posted a fourth-quarter profit that fell short of Wall Street exp
Tesla shares jump after Canaccord Genuity upgrades the stock and predicts 40% rally from here Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: john melloy, aly song
Keywords: news, cnbc, companies, rally, jump, target, street, canaccord, upgrades, genuity, cash, concerns, shares, predicts, price, company, view, 40, stock, tesla, upgraded


Tesla shares jump after Canaccord Genuity upgrades the stock and predicts 40% rally from here

Tesla shares got off to the week with a good start after Canaccord Genuity upgraded the stock and predicted a monster rally from here as electric vehicle penetration improves and the company gets closer to building a car that is affordable for the masses.

Canaccord upgraded Tesla to buy from hold and raised its 12-month price target to $450 from $330.

“The EV penetration story is underappreciated by the Street,” wrote analyst Jed Dorsheimer in a note to clients Monday. “We see a more stable 2019 with far fewer concerns for investors in the company.”

Tesla closed Friday at $305.80, down 8 percent for the year. Canaccord’s new 12-month price target represents a gain of 47 percent from here. The stock jumped 2 percent in premarket trading Monday amid the Canaccord call.

The shares fell at the end of January after the company posted a fourth-quarter profit that fell short of Wall Street expectations. The Elon Musk-led company said it would focus on reducing costs in 2019 and also said its cash position improved to $3.7 billion.

“We view the recent string of price cuts as further proof that the cost cutting and right sizing that the company has undertaken are resulting in concrete movement towards the ultimate goal of an affordable $35,000 Model 3,” added Dorsheimer. “With the strong operating cash flow generation of $1.23B and cash on the balance sheet of $3.7B, the liquidity concerns and convertible note repayment are no longer valid concerns in our view.”

— With reporting by Michael Bloom.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: john melloy, aly song
Keywords: news, cnbc, companies, rally, jump, target, street, canaccord, upgrades, genuity, cash, concerns, shares, predicts, price, company, view, 40, stock, tesla, upgraded


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Italian banking shares jump on ‘not so bad news’ from the ECB

Italian banking shares moved higher on Monday following reports that their capital positions are above the levels required by the European Central Bank – in what analysts have described as “not so bad news.” Italian banks have been at the forefront of many investors’ concerns. These concerns have raised Italy’s borrowing costs and added pressure on the profitability of Italian banks. However, news that the capital positions of certain banks are higher from what regulators have demanded has broug


Italian banking shares moved higher on Monday following reports that their capital positions are above the levels required by the European Central Bank – in what analysts have described as “not so bad news.” Italian banks have been at the forefront of many investors’ concerns. These concerns have raised Italy’s borrowing costs and added pressure on the profitability of Italian banks. However, news that the capital positions of certain banks are higher from what regulators have demanded has broug
Italian banking shares jump on ‘not so bad news’ from the ECB Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: silvia amaro, stocknshares, getty images
Keywords: news, cnbc, companies, concerns, european, negative, public, ecb, shares, positions, banking, jump, bad, banks, moved, recession, higher, italian


Italian banking shares jump on 'not so bad news' from the ECB

Italian banking shares moved higher on Monday following reports that their capital positions are above the levels required by the European Central Bank – in what analysts have described as “not so bad news.”

Italian banks have been at the forefront of many investors’ concerns. Since the appointment of the current anti-establishment government and the subsequent promises to increase public spending, money managers have been worried that the country could be in trouble given its high level of public debt. These concerns have raised Italy’s borrowing costs and added pressure on the profitability of Italian banks.

Furthermore, recent data has also shown that the economy has entered a technical recession in the last quarter of 2018. Lower economic activity could restrict the bank’s ability to make business. Credit rating agency Moody’s warned last week that if the recession were to continue over the coming quarters there would be “negative consequences for banks including negative effects on performance, higher nonperforming loan (NPL) inflows, and ultimately banks’ capital.”

However, news that the capital positions of certain banks are higher from what regulators have demanded has brought some relief.

Shares in Banco BPM rose above 7 percent, Ubi Banca jumped 4 percent and UniCredit moved nearly 3 percent higher.

“After consistent negative news impacting the whole European banking sector, we have finally seen some ‘not bad’ news,” Tom Kinmonth, fixed income strategist at ABN Amro told CNBC via email on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: silvia amaro, stocknshares, getty images
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A bitcoin ETF is ‘virtually certain,’ finance expert Ric Edelman says

The road to a bitcoin ETF has seen many roadblocks, but one finance expert said it’s an inevitability. The only question is when,” Ric Edelman, founder of Edelman Financial Engines, said Monday on CNBC’s “ETF Edge” at the Inside ETFs Conference in Hollywood, Florida. Eventually we will see a bitcoin ETF and it’s at that stage that I will be much more comfortable recommending that ordinary investors participate.” Major financial institutions’ interest and investment in finding a solution should m


The road to a bitcoin ETF has seen many roadblocks, but one finance expert said it’s an inevitability. The only question is when,” Ric Edelman, founder of Edelman Financial Engines, said Monday on CNBC’s “ETF Edge” at the Inside ETFs Conference in Hollywood, Florida. Eventually we will see a bitcoin ETF and it’s at that stage that I will be much more comfortable recommending that ordinary investors participate.” Major financial institutions’ interest and investment in finding a solution should m
A bitcoin ETF is ‘virtually certain,’ finance expert Ric Edelman says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: keris lahiff
Keywords: news, cnbc, companies, trading, serious, virtually, finance, ric, concerns, certain, financial, expert, vaneck, sec, edelman, bitcoin, custody, etf


A bitcoin ETF is 'virtually certain,' finance expert Ric Edelman says

The road to a bitcoin ETF has seen many roadblocks, but one finance expert said it’s an inevitability.

“It’s virtually certain. The only question is when,” Ric Edelman, founder of Edelman Financial Engines, said Monday on CNBC’s “ETF Edge” at the Inside ETFs Conference in Hollywood, Florida. “The SEC has several legitimate thoughtful concerns that the industry has to overcome but I’m confident they will. Eventually we will see a bitcoin ETF and it’s at that stage that I will be much more comfortable recommending that ordinary investors participate.”

The Securities and Exchange Commission has long had concerns over the cryptocurrency market and how to regulate it. For one, bitcoin trading lacks a secure chain of custody like other financial markets. Secondly, the SEC has little control over price manipulation given it has no governance over overseas trading platforms.

Major financial institutions’ interest and investment in finding a solution should mean a bitcoin ETF eventually comes to market, Edelman contended.

“We’ve got some serious players. Fidelity has made a major announcement in the custody issue. We’ve got Kingdom Trust and a number of other very serious players on the custody side. I’m confident that in very short order VanEck or Bitwise will satisfy the custody concern to the SEC,” said Edelman.

Tom Lydon, editor-in-chief of ETFTrends.com, said he’s already seen massive demand for a product like a bitcoin ETF.

“There is pent-up demand. We interview advisors all the time. Seventy-four percent say they’ve talked to clients about their interests in bitcoin so they need to step up when this happens because that money is going to go elsewhere,” Lydon said Monday on “ETF Edge.”

The Cboe refiled an application for a VanEck and SolidX bitcoin ETF to the SEC in late January. It had pulled the ETF submission roughly a week earlier on concerns the partial government shutdown would cause delays.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: keris lahiff
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Dow futures fall more than 100 points amid concerns over trade, growth

U.S. stock index futures were lower Friday morning, with market participants increasingly worried about a broadening global economic slowdown. ET, Dow Jones Industrial Average futures slipped 103 points, indicating a negative open of more than 108 points. Trump’s stance rattled investors hoping for a positive resolution to a long-running trade dispute between the world’s two largest economies. Elsewhere, the European Commission on Thursday sharply downgraded its forecast for euro zone economic g


U.S. stock index futures were lower Friday morning, with market participants increasingly worried about a broadening global economic slowdown. ET, Dow Jones Industrial Average futures slipped 103 points, indicating a negative open of more than 108 points. Trump’s stance rattled investors hoping for a positive resolution to a long-running trade dispute between the world’s two largest economies. Elsewhere, the European Commission on Thursday sharply downgraded its forecast for euro zone economic g
Dow futures fall more than 100 points amid concerns over trade, growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: sam meredith
Keywords: news, cnbc, companies, amid, economic, global, futures, trump, fall, xi, kim, growth, trade, points, dow, president, 100, meet, concerns


Dow futures fall more than 100 points amid concerns over trade, growth

U.S. stock index futures were lower Friday morning, with market participants increasingly worried about a broadening global economic slowdown.

At around 3:05 a.m. ET, Dow Jones Industrial Average futures slipped 103 points, indicating a negative open of more than 108 points. Futures on the S&P 500 and Nasdaq Composite were also seen relatively downbeat.

Market focus is largely attuned to global trade developments, after President Donald Trump said he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline to reach a deal.

Trump’s stance rattled investors hoping for a positive resolution to a long-running trade dispute between the world’s two largest economies.

While Trump and Xi are still expected to meet eventually, there’s too much work to do to flesh out a deal with China and prepare Trump for a high-stakes meeting with North Korea’s Kim Jong Un. Trump’s summit with Kim is set for Feb. 27-28.

Elsewhere, the European Commission on Thursday sharply downgraded its forecast for euro zone economic growth in 2019 and 2020. The news exacerbated fears that a global economic downturn is spreading to Europe.

Back in the U.S., investors are likely to monitor another fresh batch of corporate results on Friday. Arconic, Hasbro and Philips 66 are all expected to publish their latest quarterly earnings before the opening bell.

There are no major economic reports scheduled on Friday.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: sam meredith
Keywords: news, cnbc, companies, amid, economic, global, futures, trump, fall, xi, kim, growth, trade, points, dow, president, 100, meet, concerns


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