Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th


Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


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UK Labour Party will bring no confidence motion when it’s likely to be successful

Britain’s opposition Labour Party said on Monday it would only launch a motion of no confidence in Prime Minister Theresa May’s government when it felt it would most likely be successful. Labour Party leader Jeremy Corbyn has come under pressure from some of his own lawmakers to press for a vote of no confidence this week after May delayed a vote on her Brexit agreement with the European Union. “We will put down a motion of no confidence when we judge it most likely to be successful,” a Labour s


Britain’s opposition Labour Party said on Monday it would only launch a motion of no confidence in Prime Minister Theresa May’s government when it felt it would most likely be successful. Labour Party leader Jeremy Corbyn has come under pressure from some of his own lawmakers to press for a vote of no confidence this week after May delayed a vote on her Brexit agreement with the European Union. “We will put down a motion of no confidence when we judge it most likely to be successful,” a Labour s
UK Labour Party will bring no confidence motion when it’s likely to be successful Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: horacio villalobos, corbis, getty images
Keywords: news, cnbc, companies, country, party, likely, parliament, uk, successful, bring, labour, vote, week, motion, confidence, unquestionably


UK Labour Party will bring no confidence motion when it's likely to be successful

Britain’s opposition Labour Party said on Monday it would only launch a motion of no confidence in Prime Minister Theresa May’s government when it felt it would most likely be successful.

Labour Party leader Jeremy Corbyn has come under pressure from some of his own lawmakers to press for a vote of no confidence this week after May delayed a vote on her Brexit agreement with the European Union.

“We will put down a motion of no confidence when we judge it most likely to be successful,” a Labour spokesperson said in a statement.

The statement said if May returned from Brussels with the same deal “she will have decisively and unquestionably lost the confidence of parliament on the most important issue facing the country, and Parliament will be more likely to bring about the general election our country needs to end this damaging deadlock.”


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: horacio villalobos, corbis, getty images
Keywords: news, cnbc, companies, country, party, likely, parliament, uk, successful, bring, labour, vote, week, motion, confidence, unquestionably


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US consumer spending surges, while underlying inflation slows

U.S. consumer spending increased by the most in seven months in October, but underlying price pressures slowed, with an inflation measure tracked by the Federal Reserve recording its smallest annual increase since February. Data for September was revised down to show spending rising 0.2 percent instead of the previously reported 0.4 percent gain. Economists polled by Reuters had forecast consumer spending increasing 0.4 percent in October. When adjusted for inflation, consumer spending advanced


U.S. consumer spending increased by the most in seven months in October, but underlying price pressures slowed, with an inflation measure tracked by the Federal Reserve recording its smallest annual increase since February. Data for September was revised down to show spending rising 0.2 percent instead of the previously reported 0.4 percent gain. Economists polled by Reuters had forecast consumer spending increasing 0.4 percent in October. When adjusted for inflation, consumer spending advanced
US consumer spending surges, while underlying inflation slows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: mark makela, corbis, getty images
Keywords: news, cnbc, companies, rising, seven, slows, underlying, growth, inflation, spending, month, consumer, pace, surges, months, 04


US consumer spending surges, while underlying inflation slows

U.S. consumer spending increased by the most in seven months in October, but underlying price pressures slowed, with an inflation measure tracked by the Federal Reserve recording its smallest annual increase since February.

The Commerce Department said on Thursday consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 0.6 percent last month as households spent more on prescription medication and utilities.

Data for September was revised down to show spending rising 0.2 percent instead of the previously reported 0.4 percent gain.

Economists polled by Reuters had forecast consumer spending increasing 0.4 percent in October. When adjusted for inflation, consumer spending advanced 0.4 percent, also the biggest gain in seven months and pointing to a solid pace of consumption at the beginning of the fourth quarter.

Despite the strong consumer spending, there are indications that economic growth is slowing. Data this month suggested a moderation in business spending on equipment, a deterioration in the trade deficit as well as further weakness in the housing market. Growth estimates for the fourth quarter are currently around a 2.5 percent annualized rate. The economy grew at a 3.5 percent pace in the July-September quarter.

In October, spending on goods surged 0.5 percent after gaining 0.1 percent in September. Outlays on services shot up 0.7 percent after rising 0.3 percent the prior month.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: mark makela, corbis, getty images
Keywords: news, cnbc, companies, rising, seven, slows, underlying, growth, inflation, spending, month, consumer, pace, surges, months, 04


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Nigeria will lose $6 billion in ‘corrupt’ oil deal with Shell and Eni, report claims

A deal Shell and Eni brokered with the Nigerian government in 2011 is set to cost the African nation $6 billion in lost revenue, a report claimed Monday. The report, published by campaign group Global Witness, said the allegedly corrupt deal’s terms would stop Nigeria accessing its share of the profits from oil extracted from its offshore block. Shell and Eni were accused of bribery last year over a $1.3 billion payment that secured an exploration licence for the block, known as OPL 245, in 2011


A deal Shell and Eni brokered with the Nigerian government in 2011 is set to cost the African nation $6 billion in lost revenue, a report claimed Monday. The report, published by campaign group Global Witness, said the allegedly corrupt deal’s terms would stop Nigeria accessing its share of the profits from oil extracted from its offshore block. Shell and Eni were accused of bribery last year over a $1.3 billion payment that secured an exploration licence for the block, known as OPL 245, in 2011
Nigeria will lose $6 billion in ‘corrupt’ oil deal with Shell and Eni, report claims Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: chloe taylor, gary tramontina, corbis, getty images
Keywords: news, cnbc, companies, witness, share, shell, profits, report, nigeria, billion, lose, nigerian, claims, payment, eni, deal, corrupt, oil, 2011


Nigeria will lose $6 billion in 'corrupt' oil deal with Shell and Eni, report claims

A deal Shell and Eni brokered with the Nigerian government in 2011 is set to cost the African nation $6 billion in lost revenue, a report claimed Monday.

The report, published by campaign group Global Witness, said the allegedly corrupt deal’s terms would stop Nigeria accessing its share of the profits from oil extracted from its offshore block.

Shell and Eni were accused of bribery last year over a $1.3 billion payment that secured an exploration licence for the block, known as OPL 245, in 2011. It was alleged that although the funds were paid to the Nigerian government, the money actually went to Malabu Oil and Gas — a company linked to former oil minister Dan Etete.

Global Witness claimed that a term granting Nigeria a share of the oil production profits was negotiated out of the 2011 deal by former Nigerian ministers, who it alleges took bribes from the oil giants. It said the clause was replaced with a back-in option that required Nigeria to pay more towards the exploration costs than it could afford.

Shell and Eni — along with some of their former employees — are facing charges relating to the payment, with Italian prosecutors alleging there was awareness the funds would be pocketed by individuals. All of the defendants have denied any wrongdoing.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: chloe taylor, gary tramontina, corbis, getty images
Keywords: news, cnbc, companies, witness, share, shell, profits, report, nigeria, billion, lose, nigerian, claims, payment, eni, deal, corrupt, oil, 2011


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In Third Point truce, Campbell soup heirs (mostly) band together

Third Point will have input on a third director that Campbell plans to add by its meeting in May 2019. It had pushed back against adding two other Third Point nominees, former Campbell executive Bill Toler and Third Point executive Munib Islam. While there have been prior family fractures, the family has historically banded together to protect the soup company. The brother and sister have long been fiercely loyal to the soup company. Those challenges, along with a falling stock price, made it un


Third Point will have input on a third director that Campbell plans to add by its meeting in May 2019. It had pushed back against adding two other Third Point nominees, former Campbell executive Bill Toler and Third Point executive Munib Islam. While there have been prior family fractures, the family has historically banded together to protect the soup company. The brother and sister have long been fiercely loyal to the soup company. Those challenges, along with a falling stock price, made it un
In Third Point truce, Campbell soup heirs (mostly) band together Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: lauren hirsch, richard levine, corbis, getty images
Keywords: news, cnbc, companies, truce, campbells, add, company, strawbridge, family, point, heirs, band, board, soup, campbell, ceo


In Third Point truce, Campbell soup heirs (mostly) band together

Campbell Soup announced on Monday the terms of a truce it has reached with Third Point, which will add two of the activist fund’s nominees to its board: former Blue Buffalo CEO Kurt Schmidt and Comscore President Sarah Hofstetter.

Campbell shareholders are set to meet on Thursday. Shares of Campbell were down more than 4 percent in afternoon trading.

As part of the deal, Campbell will expand the size of its board by at least two board seats. Campbell can expand it to 14 with board approval. Its bylaws could be amended to boost the board even more.

Third Point will have input on a third director that Campbell plans to add by its meeting in May 2019. It will also have input on Campbell’s CEO search.

Campbell had previously said it would add Hofstetter and Schmidt to its board. It had pushed back against adding two other Third Point nominees, former Campbell executive Bill Toler and Third Point executive Munib Islam.

The settlement concludes a months-long proxy battle that ended far different than it began. Dan Loeb’s Third Point had first pushed for a sale of the company and later a full ouster of its board. Campbell has so far remained independent and granted only two of Third Point’s nominees seats on its board.

Third Point has faced steep odds since the onset. The descendants of Campbell’s founder own at least 41 percent of the company. While there have been prior family fractures, the family has historically banded together to protect the soup company. Three of Campbell’s heirs sit on its board.

Third Point first unveiled its stake in Campbell in August. The soup company was vulnerable — just months prior, it had announced a strategic review and the sudden departure of its CEO after “unacceptable” earnings results. Third Point said the “only justifiable outcome” of the review was a sale to a strategic buyer.

To support its efforts, Third Point partnered with George Strawbridge Jr., a descendant of soup company’s founder. Strawbridge’s son has in the past pitched to certain Campbell board members the idea of a sale to Kraft Heinz, a person familiar with the situation tells CNBC.

In order for Third Point and Strawbridge’s campaign to work, Strawbridge needed to turn at least some his family members to his side. Two of them seemed unlikely: Mary Alice Malone and Bennett Dorrance, children of Campbell’s former chairman who collectively own roughly 33.1 percent of the company. The brother and sister have long been fiercely loyal to the soup company.

How other family members might fall, though, was less clear. Bennett and Mary Alice’s cousin, board member Archie Van Beuren, has sole voting power of the Campbell Voting Trust, through which other Dorrance descendants together hold a combined 5.85 percent of Campbell. Cousin Charlotte Weber owns roughly 4 percent in the soup company.

Those family members struck a blow to the Third Point and Strawbridge pairing when they publicly pledged their allegiance to the soup company in October.

Meantime, Third Point and Strawbridge faced other obstacles. Kraft Heinz may have previously flirted with the idea of buying Campbell, but the industry has changed significantly over the past few years. Kraft Heinz, once Wall Street’s darling due to its ability to slash costs from bloated food companies, has had its own recent struggles with growth. Those challenges, along with a falling stock price, made it unlikely it would want to pay big dollars to buy the struggling soup company.

Third Point ultimately moved from demanding a sale to saying it would accept other moves, including a split. Meantime, after initial calls to replace all of Campbell’s board, it lobbied to add only five directors to its board.

A series of missteps and poor financial performance, though, had left Campbell with vulnerabilities of its own. Campbell has delivered a 19 percent total shareholder return over the last 20 years, while the S&P 500 has nearly tripled in that period. It hasn’t had a CEO since Morrison’s abrupt departure in May.

It is now selling its fresh food business, undoing efforts to move into the faster-growing area of the grocery store. After struggles due to inexperience and an ill-timed drought, the fresh food unit this past quarter posted an operating loss of $3 million. Campbell’s most recent acquisition, its $6.2 billion purchase of pretzel and chip company Snyder’s-Lance, more than tripled its debt burden.

“Subpar oversight” of issues such as M&A, as well as its financial performance, helped drive shareholder advisory firm ISS’ support of Third Point’s five-person slate, announced earlier this month. The opinion of the influential firm put pressure on Campbell to offer board concessions, even if family votes helped fortify its defenses.

The opinion came before Campbell’s recent better-than-expected first-quarter earnings.

With its proxy battle concluded, Campbell is now likely to refocus on its CEO search and the businesses it is selling to pay down the debt it accumulated through its Snyder’s-Lance acquisition. It has also been working to turn around its soup business.

“The CEO hiring becomes the next headline for the company, in our view, and we believe the company is more likely to entertain an external candidate now that Third Point is involved in the process,” wrote analysts at Stifel this morning.

Meantime, while new voices may add urgency to its turnaround, the company requires two-thirds shareholder vote approval for major deals, ensuring the family’s voice continues to be a powerful one.


Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: lauren hirsch, richard levine, corbis, getty images
Keywords: news, cnbc, companies, truce, campbells, add, company, strawbridge, family, point, heirs, band, board, soup, campbell, ceo


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Campbell Soup working toward settlement that would add two Third Point nominees to board

Third Point pushed for a sale of the soup company before saying it would accept other strategic moves. As part of the deal, Campbell would expand the size of its board by at least two board seats, the person said. It has pushed back against adding two other Third Point nominees, former Campbell executive Bill Toler and Third Point executive Munib Islam. The descendant family owns at least 41 percent of the company and pledged their support of the soup company. That’s even as one of the Campbell


Third Point pushed for a sale of the soup company before saying it would accept other strategic moves. As part of the deal, Campbell would expand the size of its board by at least two board seats, the person said. It has pushed back against adding two other Third Point nominees, former Campbell executive Bill Toler and Third Point executive Munib Islam. The descendant family owns at least 41 percent of the company and pledged their support of the soup company. That’s even as one of the Campbell
Campbell Soup working toward settlement that would add two Third Point nominees to board Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-25  Authors: lauren hirsch, richard levine, corbis, getty images
Keywords: news, cnbc, companies, add, person, company, shareholder, pushed, nominees, soup, working, settlement, campbell, campbells, point, board


Campbell Soup working toward settlement that would add two Third Point nominees to board

Campbell Soup is working towards a deal with Third Point that would add two of the activist fund’s nominees to its board, former Blue Buffalo CEO Kurt Schmidt and Comscore President Sarah Hofstetter, a person familiar with the situation told CNBC on Sunday.

The talks come days before Campbell shareholders are set to meet on Thursday, Nov. 29.

The potential settlement would mark a muted victory for activist firm Third Point and its founder, Dan Loeb, which have a roughly 7 percent stake in Campbell. Third Point pushed for a sale of the soup company before saying it would accept other strategic moves. It went from lobbying to replace Campbell’s entire board to seeking to add only five directors.

As part of the deal, Campbell would expand the size of its board by at least two board seats, the person said. Campbell currently has 12 board members, but can expand to 14 with board approval. Its bylaws could be amended to boost the board even more.

The potential settlement may also offer Third Point input on another new director, the person said.

Campbell had previously said it would add Hofstetter and Schmidt to its board. It has pushed back against adding two other Third Point nominees, former Campbell executive Bill Toler and Third Point executive Munib Islam. It has not yet commented on nominee Bozoma Saint John, a former Uber executive who is now at Endeavor.

The person cautioned that the settlement, first reported by the Wall Street Journal earlier Sunday, is not yet official. It is possible its terms may change or the two may not reach a settlement at all.

The person requested anonymity because the negotiations are confidential. Third Point wasn’t immediately available for comment. Campbell declined to comment.

Should Third Point and Campbell secure a deal, it would mark a shift for a soup company steeply tied to its tradition of largely being run as a family company. Three of Campbell’s heirs sit on its board. The descendant family owns at least 41 percent of the company and pledged their support of the soup company. That’s even as one of the Campbell soup heirs, George Strawbridge Jr., partnered with Loeb in the proxy battle.

But a series of missteps and poor financial performance left the soup company vulnerable. Campbell has delivered a 19-percent total shareholder return over the last 20 years, while the S&P 500 has nearly tripled in the same period.

It is now selling its fresh food business, undoing efforts to move into the faster growing area of the grocery store. After struggles due to inexperience and an ill-timed drought, the fresh food unit this past quarter posted an operating loss of $3 million. Campbell’s most recent acquisition, its $6.2 billion purchase of pretzel and chip company Snyder’s-Lance, more than tripled its debt burden.

“Subpar oversight” of issues like M&A, as well as its financial performance, helped drive shareholder advisory firm ISS’s support of Third Point’s five-person slate, announced earlier this month. The opinion of the influential firm put pressure on Campbell to offer board concessions, even if family votes helped fortify its defenses.

The opinion came before Campbell’s recent better-than-expected first-quarter earnings.

While Third Point had originally pushed for a sale of Campbell, securing board seats does not necessarily mean the company will get sold. The challenges faced by Campbell and others make it unclear whether there is a buyer at a good price for the entire company. Meantime, the company requires two-third shareholder vote approval for major deals.


Company: cnbc, Activity: cnbc, Date: 2018-11-25  Authors: lauren hirsch, richard levine, corbis, getty images
Keywords: news, cnbc, companies, add, person, company, shareholder, pushed, nominees, soup, working, settlement, campbell, campbells, point, board


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Sears is just one of five retailers that have no room for error this holiday season

The holiday season will be the first for new CEO Jill Soltau, who is tasked with turning around a ship that her predecessors could not. Soltau has said her objective is to put J.C. Penney back on a path to profitable growth. That means this holiday season it can’t discount its way to sales growth, it also needs to make some money. That challenge may be heightened as it faces liquidation sales from Sears, one of its competitors in appliances. J.C. Penney this past quarter lost 52 cents a share.


The holiday season will be the first for new CEO Jill Soltau, who is tasked with turning around a ship that her predecessors could not. Soltau has said her objective is to put J.C. Penney back on a path to profitable growth. That means this holiday season it can’t discount its way to sales growth, it also needs to make some money. That challenge may be heightened as it faces liquidation sales from Sears, one of its competitors in appliances. J.C. Penney this past quarter lost 52 cents a share.
Sears is just one of five retailers that have no room for error this holiday season Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: lauren hirsch, getty images, richard sheinwald, bloomberg via getty images, michael nagle, bloomberg, daniel acker, richard levine, corbis, yana paskoya
Keywords: news, cnbc, companies, lost, debt, room, sears, retailers, sales, penney, left, growth, season, error, jc, holiday, company


Sears is just one of five retailers that have no room for error this holiday season

The holiday season will be the first for new CEO Jill Soltau, who is tasked with turning around a ship that her predecessors could not.

Shares of J.C. Penney are hovering just over a dollar, as the retailer has lost track of its core customer, struggled to find the right inventory and left investors uncertain it has reason to exist. It’s also dealt with a string of high-profile executive departures, including former CEO Marvin Ellison, who left for Lowe’s, and CFO Jeffrey Davis.

Soltau has said her objective is to put J.C. Penney back on a path to profitable growth. That means this holiday season it can’t discount its way to sales growth, it also needs to make some money. That challenge may be heightened as it faces liquidation sales from Sears, one of its competitors in appliances.

J.C. Penney this past quarter lost 52 cents a share. Its shares are down 62 percent since January. It has $4.2 billion in debt as of Aug. 4, 2018, according to Factset.

Analysts have begun to question how it will manage its debt load in the face of its sales and earnings decline. Senior Vice President Trent Kruse recently acknowledged the company’s leverage “is a little ahead” of the company, but said its debt does not come due for another five years, giving it time to address those concerns.

Kruse also said the company will continue to think about options and opportunities with respect to its real estate and its debt.


Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: lauren hirsch, getty images, richard sheinwald, bloomberg via getty images, michael nagle, bloomberg, daniel acker, richard levine, corbis, yana paskoya
Keywords: news, cnbc, companies, lost, debt, room, sears, retailers, sales, penney, left, growth, season, error, jc, holiday, company


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London is fast becoming a major hub for A.I. development

Investors in the sector rated access to skills as their top priority when considering where to invest, according to CognitionX, with 62 percent naming London as the best European location for AI talent. With 13 universities in the capital offering AI-related degrees, the city was seen as a hub for growing talent as well as attracting it. In February, a study by AI research organization JF Gagne found the U.K. had the world’s second-highest concentration of high-profile AI professionals, with the


Investors in the sector rated access to skills as their top priority when considering where to invest, according to CognitionX, with 62 percent naming London as the best European location for AI talent. With 13 universities in the capital offering AI-related degrees, the city was seen as a hub for growing talent as well as attracting it. In February, a study by AI research organization JF Gagne found the U.K. had the world’s second-highest concentration of high-profile AI professionals, with the
London is fast becoming a major hub for A.I. development Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: chloe taylor, blutgruppe, corbis, getty images
Keywords: news, cnbc, companies, worlds, development, workers, major, work, fast, organization, aid, hub, london, talent, ai, right, information


London is fast becoming a major hub for A.I. development

Investors in the sector rated access to skills as their top priority when considering where to invest, according to CognitionX, with 62 percent naming London as the best European location for AI talent. With 13 universities in the capital offering AI-related degrees, the city was seen as a hub for growing talent as well as attracting it.

In February, a study by AI research organization JF Gagne found the U.K. had the world’s second-highest concentration of high-profile AI professionals, with the U.S. taking first place.

Nick Jennings, professor of artificial intelligence at Imperial College London, has used his AI expertise to develop a platform for aid workers. His work, in partnership with aid charity Rescue Global, helps the organization filter through false information following disasters to deliver aid to the right places.

He told CNBC that AI is “not a technology that is solved,” and that it still had an abundance of untapped potential.

“In the future it will become ubiquitous and much more investible,” he said. “AI is a tech we need right now because we have so much information being generated, and humans cannot cope with that volume of data on their own.”


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: chloe taylor, blutgruppe, corbis, getty images
Keywords: news, cnbc, companies, worlds, development, workers, major, work, fast, organization, aid, hub, london, talent, ai, right, information


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Stocks haven’t successfully tested the October lows yet, Bob Doll says

Long-time money manager Bob Doll is warning investors that stocks could breach October’s correction lows. Doll, Nuveen Asset Management’s chief equity strategist and senior portfolio manager, believes the Dow’s 602 point Monday loss wasn’t a fluke. He suggests there were clues in the early November market comeback that virtually cut October’s losses in half. Breadth wasn’t great,” Doll said on CNBC’s “Trading Nation” on Monday. Doll, who is a long-term bull, contends the economic cycle is still


Long-time money manager Bob Doll is warning investors that stocks could breach October’s correction lows. Doll, Nuveen Asset Management’s chief equity strategist and senior portfolio manager, believes the Dow’s 602 point Monday loss wasn’t a fluke. He suggests there were clues in the early November market comeback that virtually cut October’s losses in half. Breadth wasn’t great,” Doll said on CNBC’s “Trading Nation” on Monday. Doll, who is a long-term bull, contends the economic cycle is still
Stocks haven’t successfully tested the October lows yet, Bob Doll says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: stephanie landsman, david orrell, carlo allegri, bryan r smith, afp, getty images, pictures ltd, corbis, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, lot, doll, successfully, nasdaq, volatility, lows, havent, market, going, octobers, manager, stocks, wasnt, tested, bob


Stocks haven't successfully tested the October lows yet, Bob Doll says

Long-time money manager Bob Doll is warning investors that stocks could breach October’s correction lows.

Doll, Nuveen Asset Management’s chief equity strategist and senior portfolio manager, believes the Dow’s 602 point Monday loss wasn’t a fluke.

He suggests there were clues in the early November market comeback that virtually cut October’s losses in half.

“We had the rally off the low, and it did not have a lot of confidence and conviction. Breadth wasn’t great,” Doll said on CNBC’s “Trading Nation” on Monday. “This is the retest sequencing.”

The Dow on Monday saw its worst day since Oct. 24. The S&P 500 and the tech-heavy Nasdaq also got beaten up — falling almost 2 percent and 3 percent, respectively. The drop pushed the Nasdaq back into correction territory.

Doll sees three major factors “haunting” the market: How long earnings will stay strong, whether the Federal Reserve will tighten interest rates too aggressively and the potential fallout from the U.S.-China trade war.

Doll, who is a long-term bull, contends the economic cycle is still positive for stocks. It’s just a question of when Wall Street angst and volatility will subside.

“I don’t think we’re going to see a new high this year,” he said. “We’re going to bounce around with a lot of side-wise volatility.”


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: stephanie landsman, david orrell, carlo allegri, bryan r smith, afp, getty images, pictures ltd, corbis, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, lot, doll, successfully, nasdaq, volatility, lows, havent, market, going, octobers, manager, stocks, wasnt, tested, bob


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Italy’s financial problem is ‘self-made,’ says CEPS director

Italy’s financial turmoil is “self-made” and would not have arisen if the government had complied with EU recommendations, a leading European think thank has told CNBC. Speaking to CNBC’s Joumanna Bercetche on Tuesday, Daniel Gros, director of the Centre for European Policy Studies, said Italian politicians had made decisions that set Italy on the wrong path. Gros also speculated that Italy would continue to rebel against European Union’s rules, but would eventually have no choice but to comply.


Italy’s financial turmoil is “self-made” and would not have arisen if the government had complied with EU recommendations, a leading European think thank has told CNBC. Speaking to CNBC’s Joumanna Bercetche on Tuesday, Daniel Gros, director of the Centre for European Policy Studies, said Italian politicians had made decisions that set Italy on the wrong path. Gros also speculated that Italy would continue to rebel against European Union’s rules, but would eventually have no choice but to comply.
Italy’s financial problem is ‘self-made,’ says CEPS director Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: chloe taylor, stefano montesi, corbis, getty images
Keywords: news, cnbc, companies, ceps, votes, weeks, wrong, director, told, italian, selfmade, italy, european, listen, rules, deficit, financial, problem, italys


Italy's financial problem is 'self-made,' says CEPS director

Italy’s financial turmoil is “self-made” and would not have arisen if the government had complied with EU recommendations, a leading European think thank has told CNBC.

Speaking to CNBC’s Joumanna Bercetche on Tuesday, Daniel Gros, director of the Centre for European Policy Studies, said Italian politicians had made decisions that set Italy on the wrong path.

“Six months ago Italy looked fine,” he said. “If the new government had done nothing, then Italy would be on a nice path with low interest rates (and a) debt level which goes down.”

Rancour between Rome and Brussels has grown in recent weeks after a controversial draft Italian budget for 2019 proposed a deficit equal to 2.4 percent of the country’s annual output. A previous Italian administration had promised a deficit goal of just 0.8 percent of GDP (gross domestic product).

Gros also speculated that Italy would continue to rebel against European Union’s rules, but would eventually have no choice but to comply.

“Everybody is telling Italy: ‘These rules might be tough in the short run, but in the end they deliver growth – stick to them.’ And it’s up to the Italians to listen,” he told CNBC.

“They will not listen to European rules because they said our votes, our people are more important than European rules and these European bureaucrats. But they forget that the other people out there, people in the markets, have to give their government the money to spend what they want to.”


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: chloe taylor, stefano montesi, corbis, getty images
Keywords: news, cnbc, companies, ceps, votes, weeks, wrong, director, told, italian, selfmade, italy, european, listen, rules, deficit, financial, problem, italys


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