European markets slip amid fears of global growth slowdown; UK retailer Asos down 36%

In terms of stocks, retail was down the most, by more than 1 percent. UK retail stocks are making heavy losses on Monday, with Asos down 34 percent, Next down 8 percent, Marks & Spencer down 4.6 percent Boohoo shares down 19.4 percent. On Monday, Asos cut its annual sales growth and profit margin forecasts, becoming the latest British retailer to highlight very poor November trading. On Friday, China reported weaker-than-expected retail sales data, growing at its weakest pace since November 2003


In terms of stocks, retail was down the most, by more than 1 percent. UK retail stocks are making heavy losses on Monday, with Asos down 34 percent, Next down 8 percent, Marks & Spencer down 4.6 percent Boohoo shares down 19.4 percent. On Monday, Asos cut its annual sales growth and profit margin forecasts, becoming the latest British retailer to highlight very poor November trading. On Friday, China reported weaker-than-expected retail sales data, growing at its weakest pace since November 2003
European markets slip amid fears of global growth slowdown; UK retailer Asos down 36% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: spriha srivastava
Keywords: news, cnbc, companies, concerns, global, slowdown, week, sales, uk, fears, near, margin, slip, growth, stocks, european, asos, retail, markets, retailer, turmoil


European markets slip amid fears of global growth slowdown; UK retailer Asos down 36%

In terms of stocks, retail was down the most, by more than 1 percent. UK retail stocks are making heavy losses on Monday, with Asos down 34 percent, Next down 8 percent, Marks & Spencer down 4.6 percent Boohoo shares down 19.4 percent.

On Monday, Asos cut its annual sales growth and profit margin forecasts, becoming the latest British retailer to highlight very poor November trading. ASOS lowered its sales growth forecast for the 2018-19 year to 15 percent from 20-25 percent previously and cut its earnings before interest and tax (EBIT) margin target for the year to around 2 percent from 4 percent.

Meanwhile, basic resources found itself at the top of the best performing stocks, up 0.8 percent.

Market focus is largely attuned to concerns surrounding cooling global growth after soft economic data from China and Europe in the last week added further concerns. On Friday, China reported weaker-than-expected retail sales data, growing at its weakest pace since November 2003.

Stocks in Asia mostly traded higher trade on Monday following a report suggesting further turmoil for the markets in 2019.

The Bank of International Settlements (BIS), an umbrella group for the world’s central banks, said on Sunday that recent market tensions are a sign of more turmoil to come. It warned that a normalization of monetary policy is likely to trigger a flurry of sharp sell-offs in the near future.

Meanwhile, sterling hovered near its 20-month low touched last week, concerns that Britain was headed for a chaotic exit from the European Union increased.

Britain has just over 100 days to leave the bloc on March 29 and chances of a no-deal or a chaotic Brexit deal have gone up after strong oppositions to Prime Minister Theresa May’s draft deal.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: spriha srivastava
Keywords: news, cnbc, companies, concerns, global, slowdown, week, sales, uk, fears, near, margin, slip, growth, stocks, european, asos, retail, markets, retailer, turmoil


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Huawei CFO seeks bail on health concerns

Her family assured the court she would remain in Vancouver if she was granted bail, according to the court documents. Earlier on Sunday, China’s foreign ministry summoned the U.S. ambassador to lodge a “strong protest” over the arrest, and said the United States should withdraw its arrest warrant. China urged the United States to withdraw the arrest warrant, Le added. The U.S. case against Meng involves Skycom Tech, which Huawei has described as one of its “major local partners” in Iran. Reuters


Her family assured the court she would remain in Vancouver if she was granted bail, according to the court documents. Earlier on Sunday, China’s foreign ministry summoned the U.S. ambassador to lodge a “strong protest” over the arrest, and said the United States should withdraw its arrest warrant. China urged the United States to withdraw the arrest warrant, Le added. The U.S. case against Meng involves Skycom Tech, which Huawei has described as one of its “major local partners” in Iran. Reuters
Huawei CFO seeks bail on health concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: jane wolsak, alvin chan, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, united, seeks, chinese, health, meng, told, huawei, iran, reported, concerns, states, bail, court, skycom, cfo


Huawei CFO seeks bail on health concerns

Her family assured the court she would remain in Vancouver if she was granted bail, according to the court documents. Her husband said he plans to bring the couple’s daughter to Vancouver to attend school during the proceedings. Meng will be back in the court for a bail hearing on Monday.

Huawei, the world’s biggest supplier of telecoms network equipment and second biggest smartphone seller, did not offer an immediate comment on the court documents. The company, a market leader across many countries in Europe, Asia and Africa, previously said it has complied with all applicable rules.

Earlier on Sunday, China’s foreign ministry summoned the U.S. ambassador to lodge a “strong protest” over the arrest, and said the United States should withdraw its arrest warrant.

Chinese Vice Foreign Minister Le Yucheng told U.S. ambassador Terry Branstad the United States had made an “unreasonable demand” on Canada to detain Meng while she was passing through Vancouver, China’s Foreign Ministry said.

“The actions of the U.S. seriously violated the lawful and legitimate rights of the Chinese citizen, and by their nature were extremely nasty,” Le told Branstad.

China urged the United States to withdraw the arrest warrant, Le added. “China will respond further depending on U.S. actions,” he said, without elaborating.

On Saturday, Le warned the Canadian ambassador there would be severe consequences if it did not immediately release Meng.

There was no immediate reaction from Canada. On Friday, Foreign Minister Chrystia Freeland told reporters Canada’s relationship with China was important, and the country’s ambassador in Beijing has assured the Chinese consular access will be provided to Meng.

The United States has been looking since at least 2016 into whether Huawei shipped U.S.-origin products to Iran and other countries in violation of U.S. export and sanctions laws, Reuters reported in April.

The U.S. case against Meng involves Skycom Tech, which Huawei has described as one of its “major local partners” in Iran. Huawei used Skycom’s Tehran office to provide mobile network equipment to several major telecommunications companies in Iran, people familiar with the company’s operations have told Reuters.

In December 2012, Reuters reported that documents showed Skycom had tried to sell embargoed Hewlett-Packard computer equipment in 2010 to Iran’s largest mobile-phone operator.

Reuters later reported that Skycom had much closer ties to Huawei and Meng than previously known.

In Canadian court papers made public on Friday, an investigation by U.S. authorities found Huawei operated Skycom as an “unofficial subsidiary” to conduct business in Iran.

Huawei said its Iran operations were “in strict compliance with applicable laws, regulations and sanctions” of the United Nations, United States and European Union, according to Canadian court documents released on Sunday.

U.S. officials allege that Meng and other Huawei representatives misled financial institutions about Huawei’s control of Skycom, so the Chinese company could gain access to the international banking system. As a result, an unidentified financial institution cleared more than $100 million worth of transactions related to Skycom through the U.S. between 2010 and 2014, the court papers said.

On Thursday, Reuters identified HSBC Holdings as one of the banks involved in the Meng case and, citing sources, reported that the probe included possible bank fraud.

Companies are barred from using the U.S. financial system to funnel goods and services to sanctioned entities.

U.S. Senator Marco Rubio said on Sunday he would “100 percent absolutely” introduce a measure in the new Congress that would ban Chinese telecom companies from doing business in the United States.

“We have to understand Chinese companies are not like American companies. OK. We can’t even get Apple to crack an iPhone for us in a terrorist investigation,” he told CBS “Face the Nation.”

“When the Chinese ask a telecom company, we want you to turn over all the data you’ve gathered in the country you’re operating in, they will do it. No court order. Nothing like that. They will just do it. They have to. We need to understand that.”

Rubio was a strong critic of China’s ZTE Corp, which pleaded guilty in 2017 to violating U.S. laws that restrict the sale of American-made technology to Iran.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: jane wolsak, alvin chan, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, united, seeks, chinese, health, meng, told, huawei, iran, reported, concerns, states, bail, court, skycom, cfo


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Dollar dips versus yen as growth concerns shake confidence

The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields. Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth. U.S. Treasury yields fell, pressuring the dollar. “Lower Treasury yields are driving the dollar lower against the yen. The euro lost 0.42 percent to 127.85 yen, the Australian do


The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields. Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth. U.S. Treasury yields fell, pressuring the dollar. “Lower Treasury yields are driving the dollar lower against the yen. The euro lost 0.42 percent to 127.85 yen, the Australian do
Dollar dips versus yen as growth concerns shake confidence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, growth, dollar, concerns, meeting, lower, treasury, versus, dips, confidence, yields, fell, yen, yield, week, shake, market


Dollar dips versus yen as growth concerns shake confidence

The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields.

The U.S. currency dropped 0.45 percent to 112.68 yen, handing back its modest gains made overnight.

Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth.

Adding to the jitters on Thursday was the arrest in Canada of a top executive of Chinese tech giant Huawei Technologies, fanning fears of a flare-up in tensions between China and the United States just as the two sides are supposed to be resuming trade negotiations.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.93 percent and Japan’s Nikkei lost more than 2 percent.

U.S. Treasury yields fell, pressuring the dollar.

“Lower Treasury yields are driving the dollar lower against the yen. It is difficult to pinpoint how much funds investors have transferred from equities to bonds in the recent risk aversion and it is too early to call a bottom for Treasury yields,” said Yukio Ishizuki, senior currency strategist at Daiwa Securities.

The 10-year Treasury yield last stood at 2.8829 percent.

Signals from the Federal Reserve last week that it may be nearing an end to its three-year rate hiking cycle have helped trigger the slide in Treasury yields.

The spread between the two-year and five-year Treasury yields inverted this week and the two-year/10-year spread was at its flattest in more than a decade amid a sharp fall in long-term rates.

A flatter curve is seen as an indicator of a slowing economy, with lower longer-dated yields suggesting a potential recession down the road.

“The dollar could remain under pressure until this month’s Fed meeting as long-term Treasury yields may not be able to mount a rebound until the market sees the Fed’s stance on policy and the economy,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

“The recent reaction to the U.S. yield curve inversion appears a little hysterical, but the dollar will not be given the all clear sign until the Fed meeting is hurdled.”

Fed policymakers are still widely expected to raise interest rates again at their Dec 18-19 meeting, but the market focus is on how many rate hikes will follow in 2019.

The yen, often sought in times of market unrest, made strides against other peers as well.

The euro lost 0.42 percent to 127.85 yen, the Australian dollar slumped 1.02 percent to 81.44 yen and the pound fell 0.55 percent to 143.33 yen.

The euro was little changed at $1.1346 after retreating from this week’s high of $1.1419 scaled on Tuesday.

The Australian dollar, sensitive to swings in risk sentiment, was down 0.58 percent at $0.7226.

The Aussie was already on a shaky footing after shedding nearly 1 percent the previous day on weaker-than-expected third quarter Australian gross domestic product data.

The pound was a shade lower at $1.2723.

Sterling had sunk to a 17-month low of $1.2659 at one point on Tuesday after parliamentary setbacks for Prime Minister Theresa May.

— CNBC contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, growth, dollar, concerns, meeting, lower, treasury, versus, dips, confidence, yields, fell, yen, yield, week, shake, market


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Oil prices slip on global growth concerns, swelling US supply

Oil prices fell on Wednesday, pulled down by swelling U.S. inventories and a plunge in global stock markets as China’s government warned of increasing economic headwinds. International Brent crude oil futures were at $60.87 per barrel at 0508 GMT, down $1.21, or 2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $52.33 per barrel, down 92 cents, or 1.7 percent. Key to the global economic outlook will be whether the United States and China can resolve their


Oil prices fell on Wednesday, pulled down by swelling U.S. inventories and a plunge in global stock markets as China’s government warned of increasing economic headwinds. International Brent crude oil futures were at $60.87 per barrel at 0508 GMT, down $1.21, or 2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $52.33 per barrel, down 92 cents, or 1.7 percent. Key to the global economic outlook will be whether the United States and China can resolve their
Oil prices slip on global growth concerns, swelling US supply Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: jean-paul pelissier
Keywords: news, cnbc, companies, markets, swelling, barrel, concerns, wti, crude, brent, economic, global, slip, supply, prices, united, oil, growth


Oil prices slip on global growth concerns, swelling US supply

Oil prices fell on Wednesday, pulled down by swelling U.S. inventories and a plunge in global stock markets as China’s government warned of increasing economic headwinds.

International Brent crude oil futures were at $60.87 per barrel at 0508 GMT, down $1.21, or 2 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $52.33 per barrel, down 92 cents, or 1.7 percent.

Reuters technical commodity analyst Wang Tao said WTI could soon test support at $51.75 per barrel, while Brent was threatening to drop below $60 per barrel again soon.

Oil prices were pressured by a weekly report from the American Petroleum Institute (API) that said U.S. crude inventories rose by 5.4 million barrels in the week to Nov. 30, to 448 million barrels, in a sign that U.S. oil markets are in a growing glut.

Official U.S. government oil production and inventory data is due later on Wednesday.

More broadly, the slide in U.S. oil followed a tumble in global stock markets on Tuesday, with investors worried about the threat of a widespread economic slowdown.

Key to the global economic outlook will be whether the United States and China can resolve their trade disputes. Washington and Beijing announced a 90-day truce last weekend, during which neither side will further increase punitive import tariffs.

In a sign of easing tensions between the two world’s biggest economies, Chinese oil trader Unipec plans to resume U.S. crude shipments to China by March after the Xi-Trump deal at the G-20 meeting reduced the risk of tariffs being imposed on these imports, people with knowledge of the matter said.

Yet the truce may not last. U.S. President Donald Trump threatened on Tuesday to place “major tariffs” on Chinese goods imported into the United States if his administration didn’t reach a desirable deal with Beijing.

China’s state council on Wednesday issued guidance to support employment as the economy slows, saying the country should pay “high attention” to the impact on employment from increasing economic headwinds.

Bank of America Merrill Lynch said in its 2019 economic outlook, published on Tuesday, that “most major economies are likely to see decelerating activity”, although it added that “a steady stream of monetary and fiscal stimulus measures” was expected to stem the slowdown.

The bank said it expected Brent and WTI prices to average $70 and $59 per barrel respectively in 2019.

Brent and WTI have averaged $72.80 and $66.10 per barrel so far this year.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: jean-paul pelissier
Keywords: news, cnbc, companies, markets, swelling, barrel, concerns, wti, crude, brent, economic, global, slip, supply, prices, united, oil, growth


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How a judge can rule on Justice Department’s deal with CVS, Aetna

A federal judge is considering halting the integration of CVS Health and Aetna — even though the two companies closed their merger last week. The Justice Department in October said it would require CVS and Aetna to resolve overlap between their Medicare Part D plans in order to approve their roughly $70 billion deal. When the Justice Department strikes an agreement with companies, the deal must be cleared by a federal judge. If he finds it does not, the companies can renegotiate with the Justice


A federal judge is considering halting the integration of CVS Health and Aetna — even though the two companies closed their merger last week. The Justice Department in October said it would require CVS and Aetna to resolve overlap between their Medicare Part D plans in order to approve their roughly $70 billion deal. When the Justice Department strikes an agreement with companies, the deal must be cleared by a federal judge. If he finds it does not, the companies can renegotiate with the Justice
How a judge can rule on Justice Department’s deal with CVS, Aetna Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: angelica lavito, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, deal, departments, companies, cvs, judge, department, rule, judges, concerns, health, aetna, justice


How a judge can rule on Justice Department's deal with CVS, Aetna

A federal judge is considering halting the integration of CVS Health and Aetna — even though the two companies closed their merger last week.

Judge Richard Leon of the U.S. District Court for the District of Columbia in a hearing Monday floated the idea that CVS and Aetna keep their companies separate until he can determine whether the agreement the Justice Department struck with the companies clears anti-competitive concerns, according to a transcript of the hearing.

The judge pointed to concerns from groups, such as the American Medical Association, that have urged regulators to block the deal, saying the combination would reduce competition and leave consumers worse off.

The Justice Department in October said it would require CVS and Aetna to resolve overlap between their Medicare Part D plans in order to approve their roughly $70 billion deal. To satisfy these concerns, Aetna sold its business to WellCare Health Plans.

When the Justice Department strikes an agreement with companies, the deal must be cleared by a federal judge. This step has become somewhat procedural, with judges rarely questioning or opposing the terms. Companies typically don’t wait for a judge to rule before closing a deal. So while it’s not unusual for CVS to have already completed its acquisition of Aetna, it is unusual for a judge to consider keeping the companies from integrating while he completes his review.

“Unusual is almost too light of a word,” said Andrea Agathoklis Murino, a partner in and co-chair of Goodwin’s antitrust and competition law practice. “I can’t recall another instance of a judge doing this.”

Enacted in 1974, the Tunney Act slows the merger process and adds a layer of oversight in cases where the Justice Department negotiates with the companies seeking to combine. The law created a 60-day comment period and gave judges the final say on whether the agreements made are in the public’s best interest.

Under the law, judges can conclude that the remedy proposed does not address anti-competitive concerns outlined in the complaint, said Jim Tierney, a partner in Orrick’s antitrust practice. They can’t, however, block the entire merger.

That means in the CVS-Aetna case specifically, Leon can decide whether the agreement the Justice Department struck with CVS and Aetna on their Medicare Part D businesses addresses anti-competitive issues, Tierney said. He can find the agreement sufficiently clears these concerns or not. If he finds it does not, the companies can renegotiate with the Justice Department or appeal the ruling.

Leon on Monday said he will order both parties to submit their arguments as to why he should not halt the integration pending his final ruling. He ordered the companies to submit filings by Dec. 14 and called another hearing for Dec. 18.

CVS and Aetna closed their roughly $70 billion deal on Nov. 28.

“CVS Health and Aetna are one company, and our focus is on transforming the consumer health experience,” CVS said in a statement.

Correction: This story has been updated to clarify the judge’s statement as to what order he will issue.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: angelica lavito, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, deal, departments, companies, cvs, judge, department, rule, judges, concerns, health, aetna, justice


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Everyday conveniences will win over concerns about personal data collection: A.I. start-up SenseTime

On its own, tech cannot generate value: SenseTime 1:27 AM ET Wed, 28 Nov 2018 | 02:38The public will come to accept the applications of artificial intelligence in daily life and embrace conveniences such as facial recognition easing airport security lines, and virtual assistants in homes, according to a vice president at SenseTime — one of the most valuable AI start-ups in the world. While AI has prompted privacy concerns over possible abuses — such as government surveillance and invasion of pri


On its own, tech cannot generate value: SenseTime 1:27 AM ET Wed, 28 Nov 2018 | 02:38The public will come to accept the applications of artificial intelligence in daily life and embrace conveniences such as facial recognition easing airport security lines, and virtual assistants in homes, according to a vice president at SenseTime — one of the most valuable AI start-ups in the world. While AI has prompted privacy concerns over possible abuses — such as government surveillance and invasion of pri
Everyday conveniences will win over concerns about personal data collection: A.I. start-up SenseTime Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: andrew wong
Keywords: news, cnbc, companies, worldwhile, vicepresident, tech, virtual, startup, data, conveniences, concerns, ai, personal, everyday, win, privacy, collect, sensetime, west, collection


Everyday conveniences will win over concerns about personal data collection: A.I. start-up SenseTime

On its own, tech cannot generate value: SenseTime 1:27 AM ET Wed, 28 Nov 2018 | 02:38

The public will come to accept the applications of artificial intelligence in daily life and embrace conveniences such as facial recognition easing airport security lines, and virtual assistants in homes, according to a vice president at SenseTime — one of the most valuable AI start-ups in the world.

While AI has prompted privacy concerns over possible abuses — such as government surveillance and invasion of privacy, but SenseTime said it does not collect personal data indiscriminately.

“My point is that we don’t collect the data or use the data without the permission of users,” Leo Liu, group vice-president of SenseTime told CNBC at the East Tech West conference in the Nansha district of Guangzhou, China.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: andrew wong
Keywords: news, cnbc, companies, worldwhile, vicepresident, tech, virtual, startup, data, conveniences, concerns, ai, personal, everyday, win, privacy, collect, sensetime, west, collection


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Fed concerns aren’t over for the market yet

“I think [the Fed] is trying to wean the markets off of forward guidance. The Fed currently has forecast three interest rate hikes for next year, but the market is concerned the economy will not support that many. Economists expect Powell to state that the Fed is independent and point to the fact that it is dependent on data for rate guidance. Both J.P. Morgan and Goldman Sachs economists expect four rate hikes next year. Economists expect 200,000 jobs were created in November, and wages grew at


“I think [the Fed] is trying to wean the markets off of forward guidance. The Fed currently has forecast three interest rate hikes for next year, but the market is concerned the economy will not support that many. Economists expect Powell to state that the Fed is independent and point to the fact that it is dependent on data for rate guidance. Both J.P. Morgan and Goldman Sachs economists expect four rate hikes next year. Economists expect 200,000 jobs were created in November, and wages grew at
Fed concerns aren’t over for the market yet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: patti domm, david a grogan
Keywords: news, cnbc, companies, arent, rate, economists, million, concerns, sales, fed, expect, powells, markets, market, think, important


Fed concerns aren't over for the market yet

I’d rather go into a recession with rates at 3% than 2%, says Bleakley’s Peter Boockvar 5 Hours Ago | 03:34

“I think the markets may have overemphasized the dovishness of what he’s trying to say,” said Scott Anderson, chief economist at Bank of the West. “I think [the Fed] is trying to wean the markets off of forward guidance. …They want to give themselves a little flexibility.” Anderson said there’s risk the first half of 2019 could be weaker, and he does expect the economy to slow just below 2 percent in the second half, in part due to trade wars.

He said Powell’s comment makes the Fed’s interest rate forecast all the more important when it is released after the next meeting on Dec. 19. The Fed currently has forecast three interest rate hikes for next year, but the market is concerned the economy will not support that many. Powell’s comments before Congress in the week ahead are also important, given the fact he was criticized by President Donald Trump for raising interest rates.

“It’s kind of dicey politically, I think, and the fact his statement just a month ago was interpreted so hawkishly,” said Anderson. Economists expect Powell to state that the Fed is independent and point to the fact that it is dependent on data for rate guidance.

Although the stock market rallied on Powell’s statement and bond yields fell, some economists believe the markets misinterpreted the Fed’s message. Both J.P. Morgan and Goldman Sachs economists expect four rate hikes next year.

The emphasis in the week ahead will also be on any U.S. data that can help steer the Fed. Most important is Friday’s employment report, but there are also vehicle sales and ISM manufacturing data Monday.

Economists expect 200,000 jobs were created in November, and wages grew at a pace of 3.1 percent year over year. Vehicle sales will also be important, especially after GM’s announced layoffs, and economists are expecting to see sales on an annualized basis at 17.2 million, down from the 17.6 million reported in October.

OPEC meets Thursday, and analysts expect Saudi Arabia and Russia to steer the group to a production cut, with Saudi Arabia bearing most of it. Oil prices fell more than 20 percent in November, their worst month since October 2008.

“Our base scenario is you might get some sort of actual but gradual and not really telegraphed 1 million barrels a day cut,” said Citigroup energy analyst Eric Lee.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: patti domm, david a grogan
Keywords: news, cnbc, companies, arent, rate, economists, million, concerns, sales, fed, expect, powells, markets, market, think, important


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Geopolitical concerns and higher interest rates led GroupM to lower ad spending projections for 2019

According to a new report from WPP’s GroupM, global ad spending will increase 3.6 percent, or by $19 billion, in 2019 which is lower than the company’s 3.9 percent projection from earlier this year. Meanwhile, many consumer companies aren’t increasing their ad spending on traditional media like TV, radio, print and billboards. In the U.S., ad spending is expected increase 2.9 percent in 2019. About 40 percent of ad budgets are allocated for digital, while 39.9 percent go to television. GroupM ha


According to a new report from WPP’s GroupM, global ad spending will increase 3.6 percent, or by $19 billion, in 2019 which is lower than the company’s 3.9 percent projection from earlier this year. Meanwhile, many consumer companies aren’t increasing their ad spending on traditional media like TV, radio, print and billboards. In the U.S., ad spending is expected increase 2.9 percent in 2019. About 40 percent of ad budgets are allocated for digital, while 39.9 percent go to television. GroupM ha
Geopolitical concerns and higher interest rates led GroupM to lower ad spending projections for 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: michelle castillo, source, ford motor co
Keywords: news, cnbc, companies, expected, concerns, global, growth, way, interest, lower, geopolitical, led, rates, increase, ad, higher, groupm, billion, spending, projections, budgets, advertising


Geopolitical concerns and higher interest rates led GroupM to lower ad spending projections for 2019

Concern about the global economy has made its way to advertising budgets.

According to a new report from WPP’s GroupM, global ad spending will increase 3.6 percent, or by $19 billion, in 2019 which is lower than the company’s 3.9 percent projection from earlier this year. Growth in 2018 is also weaker than expected, rising 4.3 percent, down from a prior estimate of 4.5 percent.

Higher interest rates and China’s slowing growth are among the factors that Group M, the world’s largest media investment company, cited for lowering its projections. Potential trade wars are also a threat, particularly to automotive companies, which are typically among the largest advertisers. Meanwhile, many consumer companies aren’t increasing their ad spending on traditional media like TV, radio, print and billboards.

A slowdown next year was already anticipated even before the latest macroeconomic and geopolitical concerns surfaced in a major way. That’s because there are fewer big marketing events on the horizon. In 2018, advertisers had the World Cup, the Winter Olympics and the mid-term elections, which all attracted huge audiences.

In the U.S., ad spending is expected increase 2.9 percent in 2019. About 40 percent of ad budgets are allocated for digital, while 39.9 percent go to television. Brands will be tracking the impact of new restrictions on data privacy, following the GDPR regulations in Europe this year and with similar initiatives coming to California in 2020.

China is projected to lead global advertising revenue growth, with budgets increasing 5.5 percent. The country’s advertising market, currently valued at $90 billion, has doubled since 2010 and is second to the U.S. India, Japan and the U.K. are also expected to add to the global increase in ad budgets.

GroupM handles more than $113 billion in advertising budgets on behalf of brands.

WATCH: P&G chief brand officer on data privacy


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: michelle castillo, source, ford motor co
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New Zealand rejects Huawei’s first 5G bid citing national security risk

New Zealand’s intelligence agency has rejected the telecom industry’s first request in the country to use 5G equipment provided by China’s Huawei Technologies, citing concerns about national security. Telecommunications services provider Spark New Zealand, which made the request, said on Wednesday it would review the reasoning before considering any further steps. Earlier this year, neighboring Australia banned Huawei from supplying 5G equipment, also citing security risks. “I have informed Spar


New Zealand’s intelligence agency has rejected the telecom industry’s first request in the country to use 5G equipment provided by China’s Huawei Technologies, citing concerns about national security. Telecommunications services provider Spark New Zealand, which made the request, said on Wednesday it would review the reasoning before considering any further steps. Earlier this year, neighboring Australia banned Huawei from supplying 5G equipment, also citing security risks. “I have informed Spar
New Zealand rejects Huawei’s first 5G bid citing national security risk Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: smith collection gado, archive photos, getty images
Keywords: news, cnbc, companies, zealand, security, citing, bid, services, spark, risk, huaweis, concerns, work, huawei, rejects, request, 5g, national


New Zealand rejects Huawei's first 5G bid citing national security risk

New Zealand’s intelligence agency has rejected the telecom industry’s first request in the country to use 5G equipment provided by China’s Huawei Technologies, citing concerns about national security.

Telecommunications services provider Spark New Zealand, which made the request, said on Wednesday it would review the reasoning before considering any further steps.

The decision comes as Western nations become increasingly wary of what they say is possible Chinese government involvement in fifth-generation mobile and other communications networks. Huawei has repeatedly insisted Beijing has no influence over it.

Earlier this year, neighboring Australia banned Huawei from supplying 5G equipment, also citing security risks. Last week, the Wall Street Journal reported the U.S. government was trying to persuade companies in allied countries to avoid Huawei.

“I have informed Spark that a significant network security risk was identified,” Government Communications Security Bureau Director-General Andrew Hampton said separately on Wednesday.

Intelligence services minister Andrew Little told Reuters that Spark — whose request was part of the country’s first 5G application — could work with the agency to mitigate risk. He declined to specify the concerns, citing classified information.

Huawei said in a statement that it will “actively address any concerns and work together to find a way forward”, adding it has signed more than 20 5G contracts with carriers worldwide.


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: smith collection gado, archive photos, getty images
Keywords: news, cnbc, companies, zealand, security, citing, bid, services, spark, risk, huaweis, concerns, work, huawei, rejects, request, 5g, national


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