Former Cambridge Analytica CEO cancels ad conference interview after protest

The former Cambridge Analytica executive Alexander Nix has pulled out of an appearance at the largest advertising industry conference in the world following criticism. The interview was billed as his first speaking appearance since Cambridge Analytica went into administration after allegedly harvesting Facebook user data to try to influence the outcome of the 2016 U.S. presidential election campaign and the Brexit vote. But on Wednesday afternoon, conference attendees were sent notifications on


The former Cambridge Analytica executive Alexander Nix has pulled out of an appearance at the largest advertising industry conference in the world following criticism. The interview was billed as his first speaking appearance since Cambridge Analytica went into administration after allegedly harvesting Facebook user data to try to influence the outcome of the 2016 U.S. presidential election campaign and the Brexit vote. But on Wednesday afternoon, conference attendees were sent notifications on
Former Cambridge Analytica CEO cancels ad conference interview after protest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: lucy handley
Keywords: news, cnbc, companies, protest, data, ad, analytica, cancels, ceo, conference, lions, cambridge, nix, appearance, alexander, cannes, industry, festival, interview


Former Cambridge Analytica CEO cancels ad conference interview after protest

The former Cambridge Analytica executive Alexander Nix has pulled out of an appearance at the largest advertising industry conference in the world following criticism.

Nix was due to be interviewed on stage Thursday at the Cannes Lions International Festival of Creativity in France by Gillian Tett, the Financial Times’ editorial board chair and editor at large, U.S. The interview was billed as his first speaking appearance since Cambridge Analytica went into administration after allegedly harvesting Facebook user data to try to influence the outcome of the 2016 U.S. presidential election campaign and the Brexit vote.

Nix was set to discuss “personal data and political agendas,” as well as how the scandal was reported and its implications for the media and ad industry, according to a post on the Cannes Lions website. But on Wednesday afternoon, conference attendees were sent notifications on their cell phones that his appearance had been cancelled.

Guardian journalist Carole Cadwalladr, one of the reporters who broke the story in March 2018, tweeted on Monday: “Well done, lads. This is pretty special. Cambridge Analytica’s Alexander Nix will speak at the Cannes Lions “Festival of Creativity” this week on….DRUM ROLL…’the morality of data.’ Oh, and you know who else is going? Only Facebook’s Sheryl Sandberg..! ”

One ad director wrote an anonymous letter to Philip Thomas, chair of Cannes Lions, calling the organizers’ inclusion of Nix a “monumental act of self-harm,” and said he had cut up his Lion award, one of the most coveted prizes in the ad industry.

A spokeswoman for Cannes Lions confirmed to industry title PR Week: “Alexander Nix, former CEO and founder of Cambridge Analytica, will no longer be speaking in the Debussy Theatre on Thursday June 20. Festival organizers accept his decision to withdraw.”

– CNBC’s Sam Meredith contributed to this report


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: lucy handley
Keywords: news, cnbc, companies, protest, data, ad, analytica, cancels, ceo, conference, lions, cambridge, nix, appearance, alexander, cannes, industry, festival, interview


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Watch Fed Chair Jerome Powell’s news conference live after central bank leaves rates unchanged

Powell on Trump: ‘The law is clear that I have a four-year term’The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn’t plan on leaving anytime soon. The Fedread more


Powell on Trump: ‘The law is clear that I have a four-year term’The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn’t plan on leaving anytime soon. The Fedread more
Watch Fed Chair Jerome Powell’s news conference live after central bank leaves rates unchanged Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: jeff cox
Keywords: news, cnbc, companies, termthe, fouryear, leaving, rates, jerome, plan, watch, live, conference, looking, powells, trump, powell, soonthe, law, fed, chair, leaves, unchanged, reports


Watch Fed Chair Jerome Powell's news conference live after central bank leaves rates unchanged

Powell on Trump: ‘The law is clear that I have a four-year term’

The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn’t plan on leaving anytime soon.

The Fed

read more


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: jeff cox
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YouTube CEO says ‘sorry,’ but defends hosting videos with homophobic slurs

YouTube CEO Susan Wojcicki speaks during the opening keynote address at the Google I/O 2017 Conference at Shoreline Amphitheater on May 17, 2017 in Mountain View, California. Maza said that he has been the subject of targeted harassment for years that included both anti-gay and anti-Mexican slurs. But, she added, YouTube looked at the videos in question, “and in the end, we decided it was not violative of our policy.” Wojcicki said that YouTube has a “high bar” for what counts as malicious mater


YouTube CEO Susan Wojcicki speaks during the opening keynote address at the Google I/O 2017 Conference at Shoreline Amphitheater on May 17, 2017 in Mountain View, California. Maza said that he has been the subject of targeted harassment for years that included both anti-gay and anti-Mexican slurs. But, she added, YouTube looked at the videos in question, “and in the end, we decided it was not violative of our policy.” Wojcicki said that YouTube has a “high bar” for what counts as malicious mater
YouTube CEO says ‘sorry,’ but defends hosting videos with homophobic slurs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: dylan byers, david ingram
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YouTube CEO says 'sorry,' but defends hosting videos with homophobic slurs

YouTube CEO Susan Wojcicki speaks during the opening keynote address at the Google I/O 2017 Conference at Shoreline Amphitheater on May 17, 2017 in Mountain View, California.

SCOTTSDALE, Arizona — YouTube’s chief executive apologized on Monday for the hurt she said is caused by videos with anti-gay slurs, but said the company was right to let the videos remain on its service.

CEO Susan Wojcicki, in an on-stage interview at the tech-focused Code Conference in Scottsdale, Arizona, spoke publicly for the first time since YouTube last week imposed a stricter ban on hate speech, including videos that promote ideas of racial superiority.

But rather than being lauded for tackling Nazism, Wojcicki was met with a barrage of questions about videos she has decided to leave up. The questions were prompted by journalist Carlos Maza launching a campaign last month to bring attention to homophobic abuse and harassment he says he received from a conservative YouTube personality.

Maza said that he has been the subject of targeted harassment for years that included both anti-gay and anti-Mexican slurs. Several activists are lobbying to ban YouTube’s parent company, Google, from the San Francisco Pride march this month over what they see as the service’s inaction.

“I know the decision we made was very hurtful to the LGBTQ community,” Wojcicki said. “That was not our intention at all. We’re really sorry about that.”

But, she added, YouTube looked at the videos in question, “and in the end, we decided it was not violative of our policy.”

“I do agree this was the right decision,” she said.

More from NBC News:

‘Our bodies, our choice’: N.Y. bill would decriminalize sex work

U.S. Customs says traveler images exposed in cyberattack

Deadly New York helicopter crash brings ‘a level of PTSD from 9/11’

Wojcicki, a high-profile Silicon Valley executive, faced a skeptical crowd at the annual conference for tech and media professionals. When Ina Fried, a journalist from Axios, suggested during a question-and-answer period that Wojcicki wasn’t actually sorry, the audience greeted the question with applause.

YouTube, like Facebook and other online services that rely on users for content, is facing growing scrutiny over material that shows violence, promotes hatred or is objectionable in other ways. The service’s rulebook bans harassment, for example, but only when it is “malicious.”

Wojcicki said that YouTube has a “high bar” for what counts as malicious material, and that the service faced a challenge in being consistent. She said the same rules needed to apply across the board, including to late-night comedy shows or rap music videos.


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: dylan byers, david ingram
Keywords: news, cnbc, companies, homophobic, hosting, videos, harassment, conference, ceo, youtubes, defends, susan, slurs, youtube, sorry, wojcicki, services


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A festive mood at Apple’s conference for app makers, even as storm clouds gather

But you couldn’t tell that from the festive mood at Apple’s annual developer conference, WWDC. Viewed from WWDC, the state of Apple’s developer ecosystem remains strong, with a large number of talented programmers who are clamoring to make software for Apple’s platforms, including iPhones, iPads, and Mac computers. Apple’s developer ecosystem is critical for the company, because one key selling point for the iPhone is its access to high-quality, often exclusive applications and games. Apple App


But you couldn’t tell that from the festive mood at Apple’s annual developer conference, WWDC. Viewed from WWDC, the state of Apple’s developer ecosystem remains strong, with a large number of talented programmers who are clamoring to make software for Apple’s platforms, including iPhones, iPads, and Mac computers. Apple’s developer ecosystem is critical for the company, because one key selling point for the iPhone is its access to high-quality, often exclusive applications and games. Apple App
A festive mood at Apple’s conference for app makers, even as storm clouds gather Cached Page below :
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Keywords: news, cnbc, companies, user, apps, apples, platforms, makers, android, app, conference, mood, festive, gather, developers, clouds, apple, developer, storm, store


A festive mood at Apple's conference for app makers, even as storm clouds gather

Apple CEO Tim Cook speaks during Apple’s annual Worldwide Developers Conference in San Jose, California, June 3, 2019. Mason Trinca | Reuters

As Apple CEO Tim Cook took the stage in San Jose, California, on Monday, dark clouds were forming over the company in Washington, DC. The Justice Department was given jurisdiction for a potential antitrust probe of Apple, according to a Reuters report on Monday, and CEO Tim Cook went on national television to defend the company a day later. The main antitrust arguments against Apple involve its control over developers who sell on the App Store, which is the only way for most people to install apps on an iPhone. But you couldn’t tell that from the festive mood at Apple’s annual developer conference, WWDC. The 5,000-plus attendees were mostly programmers who make apps for Apple’s platforms, and they were there to meet up with colleagues, get tutorials from Apple employees, and party with like-minded people. Antitrust was the farthest thing from most people’s minds. Viewed from WWDC, the state of Apple’s developer ecosystem remains strong, with a large number of talented programmers who are clamoring to make software for Apple’s platforms, including iPhones, iPads, and Mac computers. Apple’s developer ecosystem is critical for the company, because one key selling point for the iPhone is its access to high-quality, often exclusive applications and games. Apple also takes 30% of the price of any app sold through its App Store platforms, which converts this thriving developer ecosystem a growing revenue stream for the company as it focuses investor attention on its growing stable of online services. Apple’s developers are generally excited about Apple software. They say that Apple’s tools are the best-in-class, that its iPhone App Store provides easy access to billions of paying customers, and that they personally prefer to use Apple products — as you have to do to make iPhone apps.

$1,599 tickets

WWDC was a difficult ticket to get. Some developers won a lottery to buy $1,599 tickets to attend the weeklong celebration of Apple’s products and software. Others were sent by their companies, which paid their way. Some talented high school and college kids attended the conference on Apple’s dime, with the idea that they might work for Apple or build a killer app one day. All attendees got a custom reversible jacket when they arrived. Many programmers in San Jose this week expressed enthusiasm over several new Apple announcements. One popular feature was Sign in with Apple, which replaces Google’s and Facebook’s systems for signing into apps, but with a greater emphasis on privacy. Another popular announcement was SwiftUI, a new programming framework that drastically reduces the amount of boilerplate code needed to write a new app. SwiftUI is still in an early stage, with many developers saying they didn’t plan to use it for years, but one programmer has already published an online tutorial book about the two-day old technology. Many developers believe Apple’s developer tools and devices enable them to make apps for iOS that aren’t possible on other platforms. “When it comes to new user experiences, and particularly creative user experiences that require user experience innovation, we always start at iOS. The main reason is that the platform is much more curated and you’re dealing with a more refined set of APIs and devices, so you can drive for a higher performance point there,” WeTransfer Chief Innovation Officer Georg Petschnigg told CNBC before the show started. He’s developed a lot of iOS apps, but recently launched a new app to tap into Android’s larger user base.

Simpler to develop for

Apple’s platforms target a much smaller variety of devices and have fewer versions in use than Google Android, making them easier to develop for. Even Apple CEO Tim Cook mentioned this advantage during a speech on Monday when he said the “other guys” — Google — only has 10% of users on the most recent version of Android.

Stacey Lisik, Apple senior director of OS program management, speaks during Apple’s annual Worldwide Developers Conference in San Jose, California, June 3, 2019. Mason Trinca | Reuters

“Ultimately, I felt that iOS had fewer form factors. Android, you have a huge amount of hardware, and even on the minimum OS version, it’s like, what do you choose? Those are the kind of trade-offs you have to think about,” said Jesse Chor, the head of mobile for Splunk. He recently headed up the development of a Splunk Connected Experiences set of apps which are available for iPhone and Apple Watch, but not Android. “When you are on iPhone and you push a new app, 97% of your user base is on the newest version within 48 hours,” Mammoth Media founder Benoit Vatere told CNBC. His company develops two main apps, Wishbone and Yarn, for both Android and iOS. By way of response, Google said that it released new cross-platform developer tools at its developer conference earlier this year, and that it’s improving Android to make it easier to developers to target a wider range of versions of Android without doing extra work.

Still the cash king

One reason why Apple’s platform remains popular among developers is that its audience is willing to pay. Apple App Store users spent $46.6 billion around the world in 2018, app analytics firm Sensor Tower estimates. That’s 1.9 times what Google Play did last year. In the U.S. specifically, iPhone users spent $79 per device compared to the average Android user who bought $56 of apps, in-app purchases, and online services through Google Play. “According to our estimates, the world’s App Store users spent nearly twice as much in apps last year as Google Play’s did, despite the latter’s considerably larger market global market share,” Sensor Tower cofounder Alex Malafeev told CNBC. On a website launched the week before WWDC, Apple noted that it had paid over $120 billion to developers over the past 10 years. On that website it said that “even though other stores have more users and more app downloads, the App Store earns more money for developers.” “Revenue per user remains way stronger on Apple compared to Android,” Vatere agreed.

Burbling issues beneath the surface

Despite the positive atmosphere in San Jose, some developers expressed concerns about Apple’s dominance in hushed tones at the conference or at unofficial side-events held in adjoining hotels. Governments are placing more attention than ever on Apple’s control of its platforms and how it might compete with its own developers. The European Union is investigating a claim from Spotify that Apple disadvantaged it in favor of its own Apple Music service. Some developers who made parental control apps felt targeted by Apple’s App Store review process called “App Review” when Apple released a competing feature called Screen Time. Several developers said that the phenomenon of Apple making apps that compete with its own developers so old it has name: Sherlocking, after an obsolete piece of Apple software from the early 2000’s that competed with an app called Watson. The Verge put together a list of 9 apps that were Sherlocked at WWDC this year. One developer who saw Apple announce a competitive feature at WWDC said that he had no warning about the move, despite an existing relationship with Apple’s developer relations group. He said he asked his contact at Apple multiple times if Apple was going to compete with him and didn’t get a response. Still, he said he wanted to continue making apps for Apple’s platforms, but that he might think about expanding into areas where big tech companies are unlikely to compete with him in the future. He didn’t want to be named because he has an ongoing relationship with Apple.

Craig Federighi, Apple’s senior vice president of Software Engineering, speaks during an announcement of new products at the Apple Worldwide Developers Conference Monday, June 4, 2018, in San Jose, Calif. Marcio Jose Sanchez | AP


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: kif leswing
Keywords: news, cnbc, companies, user, apps, apples, platforms, makers, android, app, conference, mood, festive, gather, developers, clouds, apple, developer, storm, store


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Apple didn’t just take the moral high ground on privacy, it twisted the knife into Google and Facebook

Apple CEO Tim Cook delivers the keynote address during the 2019 Apple Worldwide Developer Conference (WWDC) at the San Jose Convention Center on June 03, 2019 in San Jose, California. Beyond the glitz of new iPhone features and a $6,000 new supercomputer, the underlying theme of Apple’s annual developers conference on Monday was privacy. The most significant announcement was “Sign in with Apple,” a new option developers can add to their apps so users can log in without having to create a separat


Apple CEO Tim Cook delivers the keynote address during the 2019 Apple Worldwide Developer Conference (WWDC) at the San Jose Convention Center on June 03, 2019 in San Jose, California. Beyond the glitz of new iPhone features and a $6,000 new supercomputer, the underlying theme of Apple’s annual developers conference on Monday was privacy. The most significant announcement was “Sign in with Apple,” a new option developers can add to their apps so users can log in without having to create a separat
Apple didn’t just take the moral high ground on privacy, it twisted the knife into Google and Facebook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: steve kovach
Keywords: news, cnbc, companies, apple, jose, google, doesnt, apples, san, moral, privacy, twisted, knife, high, ground, didnt, option, conference, log, facebook, apps, developers


Apple didn't just take the moral high ground on privacy, it twisted the knife into Google and Facebook

Apple CEO Tim Cook delivers the keynote address during the 2019 Apple Worldwide Developer Conference (WWDC) at the San Jose Convention Center on June 03, 2019 in San Jose, California.

Beyond the glitz of new iPhone features and a $6,000 new supercomputer, the underlying theme of Apple’s annual developers conference on Monday was privacy.

The Apple Watch’s new hearing protection feature doesn’t record ambient noise around you. Security cameras connected to Apple’s HomeKit system will encrypt your video feeds. And so on.

The most significant announcement was “Sign in with Apple,” a new option developers can add to their apps so users can log in without having to create a separate username and password. It’s similar to all those log in buttons you see across apps and websites from Facebook and Google, except Apple says its solution doesn’t gather any personal data from you. In fact, it gives you the option to scramble your email address so a third-party never gets to store it.


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: steve kovach
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Trump, May on Brexit and trade at joint press conference

Trump, May on Brexit and trade at joint press conference10:56 AM ET Tue, 4 June 2019CNBC’s Willem Marx reports from London on President Trump’s press conference with U.K. Prime Minister Theresa May, which touched on trade agreements, Brexit and more.


Trump, May on Brexit and trade at joint press conference10:56 AM ET Tue, 4 June 2019CNBC’s Willem Marx reports from London on President Trump’s press conference with U.K. Prime Minister Theresa May, which touched on trade agreements, Brexit and more.
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Trump, May on Brexit and trade at joint press conference

Trump, May on Brexit and trade at joint press conference

10:56 AM ET Tue, 4 June 2019

CNBC’s Willem Marx reports from London on President Trump’s press conference with U.K. Prime Minister Theresa May, which touched on trade agreements, Brexit and more.


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Fed officials and Trump’s latest trade threat could decide whether June starts with a market swoon

Federal Reserve officials speaking at a policy conference may get a lot more attention than usual in the week ahead after President Donald Trump’s latest tariff threat against Mexico ramped up expectations for interest rate cuts. Michael Gapen, Barclays chief U.S. economists, said investors hoping to hear Fed officials discuss their thinking on current policy could be disappointed. Gapen was one of several Wall Street economists Friday who changed his view on the Fed’s rate policy. The Fed has s


Federal Reserve officials speaking at a policy conference may get a lot more attention than usual in the week ahead after President Donald Trump’s latest tariff threat against Mexico ramped up expectations for interest rate cuts. Michael Gapen, Barclays chief U.S. economists, said investors hoping to hear Fed officials discuss their thinking on current policy could be disappointed. Gapen was one of several Wall Street economists Friday who changed his view on the Fed’s rate policy. The Fed has s
Fed officials and Trump’s latest trade threat could decide whether June starts with a market swoon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: patti domm
Keywords: news, cnbc, companies, threat, does, mexico, fed, decide, conference, tariffs, officials, trade, latest, market, swoon, rate, cuts, trumps, policy, starts


Fed officials and Trump's latest trade threat could decide whether June starts with a market swoon

The coming week has a full calendar of economic data, with the highlight being Friday’s May employment report. There are also monthly auto sales and Institute for Supply Management manufacturing data due Monday, and international trade data expected Thursday.

Stocks lost ground in May on worries that the U.S. trade war with China would hurt the global economy and bite into earnings growth. They will begin trading in June with new worries that tariffs on Mexico could hurt the economy and threaten a new trade deal between the U.S., Mexico and Canada.

Markets will also start the month of June, which is often flat for markets, coming off a painful 6.6% monthly loss in the S&P 500.

Federal Reserve officials speaking at a policy conference may get a lot more attention than usual in the week ahead after President Donald Trump’s latest tariff threat against Mexico ramped up expectations for interest rate cuts.

But it is the Fed that should get the most attention, with central bank officials gathering at a much-anticipated conference hosted by the Chicago Fed Tuesday and Wednesday. Fed Chair Jerome Powell will make the opening remarks at the conference, which is about monetary policy strategy, tools and communications. For months, strategists have been hoping the conference will provide insight into how the Fed intends to address sluggish inflation.

Interest in the event is even higher after the market and Fed watchers are increasingly convinced the central bank will now cut rates this year, and maybe more than once. The futures market priced in increasing expectations for two rate cuts after Trump’s threat to put tariffs on all Mexican goods if the Mexican government does not stop immigration into the U.S.

After the last Fed meeting, Powell said low inflation appears to be transitory, suggesting the Fed would not have to cut rates, but markets still anticipate a rate cut, and inflation continues to run below the Fed’s 2% target.

Michael Gapen, Barclays chief U.S. economists, said investors hoping to hear Fed officials discuss their thinking on current policy could be disappointed. Gapen said the Fed is also about nine months away from its decision on how it will frame inflation, and the conference will be more about academic views on it.

Gapen was one of several Wall Street economists Friday who changed his view on the Fed’s rate policy. He said he now sees the Fed cutting the fed funds target rate by 75 basis points in two cuts this year, with the Fed starting at 50 basis points in September. The Fed has said does not foresee any rate cuts this year, nor hikes, and has stressed it is on hold.

Gapen does not expect to hear much from Fed officials at the conference on rates, though investors will be combing through every word looking for policy clues.

“I don’t think that’s the type of setting where anyone would make a monetary policy comment in advance of an FOMC meeting,” he said. The Fed next meets on June 18 and 19.

Gapen said he went from expecting no Fed move to two rate cuts because the trade war with China has become more extended than expected; manufacturing and business spending are weakening, and because of Trump’s threat to put tariffs on Mexico if it doesn’t control immigrants heading into the U.S. over the southern border.

“It does suggest the administration is willing to pursue multiple fronts. It lowers the bar for tariffs on Europe,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: patti domm
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Fed officials and Trump’s latest trade threat could decide whether June starts with a market swoon

Federal Reserve officials speaking at a policy conference may get a lot more attention than usual in the week ahead after President Donald Trump’s latest tariff threat against Mexico ramped up expectations for interest rate cuts. Michael Gapen, Barclays chief U.S. economists, said investors hoping to hear Fed officials discuss their thinking on current policy could be disappointed. Gapen was one of several Wall Street economists Friday who changed his view on the Fed’s rate policy. The Fed has s


Federal Reserve officials speaking at a policy conference may get a lot more attention than usual in the week ahead after President Donald Trump’s latest tariff threat against Mexico ramped up expectations for interest rate cuts. Michael Gapen, Barclays chief U.S. economists, said investors hoping to hear Fed officials discuss their thinking on current policy could be disappointed. Gapen was one of several Wall Street economists Friday who changed his view on the Fed’s rate policy. The Fed has s
Fed officials and Trump’s latest trade threat could decide whether June starts with a market swoon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: patti domm
Keywords: news, cnbc, companies, rate, starts, latest, conference, cuts, does, trumps, mexico, decide, swoon, tariffs, threat, fed, market, policy, officials, trade


Fed officials and Trump's latest trade threat could decide whether June starts with a market swoon

The coming week has a full calendar of economic data, with the highlight being Friday’s May employment report. There are also monthly auto sales and Institute for Supply Management manufacturing data due Monday, and international trade data expected Thursday.

Stocks lost ground in May on worries that the U.S. trade war with China would hurt the global economy and bite into earnings growth. They will begin trading in June with new worries that tariffs on Mexico could hurt the economy and threaten a new trade deal between the U.S., Mexico and Canada.

Markets will also start the month of June, which is often flat for markets, coming off a painful 6.6% monthly loss in the S&P 500.

Federal Reserve officials speaking at a policy conference may get a lot more attention than usual in the week ahead after President Donald Trump’s latest tariff threat against Mexico ramped up expectations for interest rate cuts.

But it is the Fed that should get the most attention, with central bank officials gathering at a much-anticipated conference hosted by the Chicago Fed Tuesday and Wednesday. Fed Chair Jerome Powell will make the opening remarks at the conference, which is about monetary policy strategy, tools and communications. For months, strategists have been hoping the conference will provide insight into how the Fed intends to address sluggish inflation.

Interest in the event is even higher after the market and Fed watchers are increasingly convinced the central bank will now cut rates this year, and maybe more than once. The futures market priced in increasing expectations for two rate cuts after Trump’s threat to put tariffs on all Mexican goods if the Mexican government does not stop immigration into the U.S.

After the last Fed meeting, Powell said low inflation appears to be transitory, suggesting the Fed would not have to cut rates, but markets still anticipate a rate cut, and inflation continues to run below the Fed’s 2% target.

Michael Gapen, Barclays chief U.S. economists, said investors hoping to hear Fed officials discuss their thinking on current policy could be disappointed. Gapen said the Fed is also about nine months away from its decision on how it will frame inflation, and the conference will be more about academic views on it.

Gapen was one of several Wall Street economists Friday who changed his view on the Fed’s rate policy. He said he now sees the Fed cutting the fed funds target rate by 75 basis points in two cuts this year, with the Fed starting at 50 basis points in September. The Fed has said does not foresee any rate cuts this year, nor hikes, and has stressed it is on hold.

Gapen does not expect to hear much from Fed officials at the conference on rates, though investors will be combing through every word looking for policy clues.

“I don’t think that’s the type of setting where anyone would make a monetary policy comment in advance of an FOMC meeting,” he said. The Fed next meets on June 18 and 19.

Gapen said he went from expecting no Fed move to two rate cuts because the trade war with China has become more extended than expected; manufacturing and business spending are weakening, and because of Trump’s threat to put tariffs on Mexico if it doesn’t control immigrants heading into the U.S. over the southern border.

“It does suggest the administration is willing to pursue multiple fronts. It lowers the bar for tariffs on Europe,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: patti domm
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The Conference Board: Grab a deal this weekend because prices are headed higher from tariffs

Chinese made jackets are displayed for sale at a Manhattan department store on May 07, 2019 in New York City. But after all the holiday specials fade, U.S. consumers could be in for a surprise: higher prices. The policy exempted those cargo ships already on their way to the U.S., but the higher rates would apply to any goods that departed following the announcement. According to the Office of the U.S. Trade Representative, nearly 6,000 categories of Chinese goods that come into the U.S. will now


Chinese made jackets are displayed for sale at a Manhattan department store on May 07, 2019 in New York City. But after all the holiday specials fade, U.S. consumers could be in for a surprise: higher prices. The policy exempted those cargo ships already on their way to the U.S., but the higher rates would apply to any goods that departed following the announcement. According to the Office of the U.S. Trade Representative, nearly 6,000 categories of Chinese goods that come into the U.S. will now
The Conference Board: Grab a deal this weekend because prices are headed higher from tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: steve odland, erik lundh
Keywords: news, cnbc, companies, weekend, grab, tariffs, deal, conference, set, board, rates, come, 10th, york, headed, prices, higher, macys, high, chinese, goods


The Conference Board: Grab a deal this weekend because prices are headed higher from tariffs

Chinese made jackets are displayed for sale at a Manhattan department store on May 07, 2019 in New York City.

American retailers are working hard to leverage this Memorial Day weekend to boost sales. Heavyweights like Amazon, Target, Macy’s, and Home Depot all have big promotional plans to accomplish this.

But after all the holiday specials fade, U.S. consumers could be in for a surprise: higher prices.

On May 10th, the White House announced that it was raising the tariff rates on a range of Chinese imports from 10% to 25%. The policy exempted those cargo ships already on their way to the U.S., but the higher rates would apply to any goods that departed following the announcement.

The freighters that set sail after the 10th are nearing America’s shores, with many set to arrive next week. According to the Office of the U.S. Trade Representative, nearly 6,000 categories of Chinese goods that come into the U.S. will now face higher duties. Worth about $200 billion in total, they encompass a diverse group of items ranging from televisions to handbags, high tech to high fashion.

Retailers like Walmart and Macy’s already have warned that these tariffs – and others that may come later this year – may result in higher prices for their customers. The degree to which this occurs, however, will depend on how well they are able to respond.


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: steve odland, erik lundh
Keywords: news, cnbc, companies, weekend, grab, tariffs, deal, conference, set, board, rates, come, 10th, york, headed, prices, higher, macys, high, chinese, goods


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Jeff Gundlach says investors can get rich off interest rate volatility ahead

Bond titan Jeffrey Gundlach isn’t sure which way bond yields are headed, but he does see a good bet that they’ll move a lot. Speaking Monday at the Sohn Conference in New York, the head of DoubleLine Capital said his best suggestion is on volatility in long-term rates. He recommended using the iShares 20+ Year Treasury Bond ETF as a way to execute the trade. In addition to the monetary policy shifts, which now see little chance of a rate hike or cut this year, there are fiscal policy questions.


Bond titan Jeffrey Gundlach isn’t sure which way bond yields are headed, but he does see a good bet that they’ll move a lot. Speaking Monday at the Sohn Conference in New York, the head of DoubleLine Capital said his best suggestion is on volatility in long-term rates. He recommended using the iShares 20+ Year Treasury Bond ETF as a way to execute the trade. In addition to the monetary policy shifts, which now see little chance of a rate hike or cut this year, there are fiscal policy questions.
Jeff Gundlach says investors can get rich off interest rate volatility ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: jeff cox
Keywords: news, cnbc, companies, rich, investors, interest, gundlach, way, policy, monetary, rate, ahead, volatility, conference, bond, sohn, etf, york, jeff


Jeff Gundlach says investors can get rich off interest rate volatility ahead

Jeffrey Gundlach speaking at the 24th Annual Sohn Investment Conference in New York on May 6, 2019.

Bond titan Jeffrey Gundlach isn’t sure which way bond yields are headed, but he does see a good bet that they’ll move a lot.

Speaking Monday at the Sohn Conference in New York, the head of DoubleLine Capital said his best suggestion is on volatility in long-term rates. Investors can express the bet through both put and call options at the same strike, or sale, price. Puts give investors the ability to buy, while calls provide the chance to sell.

Landing a number where the rate rises or falls more than the total premium on the option could allow investors to book big profits. Gundlach said 50% to 75% gains over the next 12 months wouldn’t be out of line.

He recommended using the iShares 20+ Year Treasury Bond ETF as a way to execute the trade.

“I think this is an extremely compelling time to do this trade and an extremely important environment where outcomes are so binary,” he said.

Gundlach runs the $50 billion DoubleLine Total Return Bond Fund.

The fund’s five-year performance is among the best in its category, though it has lagged most of its peers in 2019 with a gain of just 2%, according to Morningstar rankings.

Gundlach talked at length about the Federal Reserve and Chairman Jerome Powell, whose fickle moves have made it difficult to know just where monetary policy will be ahead. Gundlach used the term “policy fluid” to describe the state of affairs under the central bank chief.

“The problem is that policy fluidity suggests pretty much anything can happen almost without notice,” he said, pointing to several policy shifts from Powell since October 2018.

In addition to the monetary policy shifts, which now see little chance of a rate hike or cut this year, there are fiscal policy questions. Modern Monetary Theory, which posits that rates should be zero to allow the government to spend on programs that will fix the wealth cap, also is gaining popularity.

“Modern Monetary Theory is not a good idea,” Gundlach said. “It’s not modern, it’s not monetary, and it isn’t much of a theory.”

At the 2018 Sohn conference, Gundlach recommended a long play on SPDR S&P Oil & Gas Exploration & Production ETF and a short on Facebook. Both trades turned out poorly. The explorer ETF has slumped more than 24% over the past year while Facebook, though underperforming the broader market, is still up more than 9%.


Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: jeff cox
Keywords: news, cnbc, companies, rich, investors, interest, gundlach, way, policy, monetary, rate, ahead, volatility, conference, bond, sohn, etf, york, jeff


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