Verizon CEO: ‘Tens of thousands’ of customers buying new 5G phones

Verizon is betting that customers will pay up for Samsung’s new 5G smartphone, even though the price point is high and the technology’s infrastructure is still being built up. “It’s a great experience,” Verizon CEO Hans Vestberg said in an interview with CNBC’s “Closing Bell ” on Thursday. We are seeing tens of thousands of customers taking it already,” he said. The Samsung Galaxy S10 5G is the first device that supports Verizon’s new 5G network out of the box. It follows the Motorola Z3, which


Verizon is betting that customers will pay up for Samsung’s new 5G smartphone, even though the price point is high and the technology’s infrastructure is still being built up. “It’s a great experience,” Verizon CEO Hans Vestberg said in an interview with CNBC’s “Closing Bell ” on Thursday. We are seeing tens of thousands of customers taking it already,” he said. The Samsung Galaxy S10 5G is the first device that supports Verizon’s new 5G network out of the box. It follows the Motorola Z3, which
Verizon CEO: ‘Tens of thousands’ of customers buying new 5G phones Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: michelle fox
Keywords: news, cnbc, companies, z3, today, taking, verizon, thousands, 5g, buy, vestberg, phones, upits, tens, ceo, customers, buying, verizons


Verizon CEO: 'Tens of thousands' of customers buying new 5G phones

Verizon is betting that customers will pay up for Samsung’s new 5G smartphone, even though the price point is high and the technology’s infrastructure is still being built up.

“It’s a great experience,” Verizon CEO Hans Vestberg said in an interview with CNBC’s “Closing Bell ” on Thursday.

“I believe that there’s going to be people taking it. We are seeing tens of thousands of customers taking it already,” he said. “And today is the first day you can actually buy it.”

The Samsung Galaxy S10 5G is the first device that supports Verizon’s new 5G network out of the box. It follows the Motorola Z3, which also runs on 5G but only if you buy an additional $200 accessory that enables it.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: michelle fox
Keywords: news, cnbc, companies, z3, today, taking, verizon, thousands, 5g, buy, vestberg, phones, upits, tens, ceo, customers, buying, verizons


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NBC’s 2020 streaming service won’t be very compelling for cord cutters — and that’s by design

The proof is in the details of NBC’s streaming service, coming next spring. And you’ll get a few originals for the streaming service, the quality of which is to be determined. NBC expects its revenue from cord cutters on its streaming service to be “completely immaterial,” according to a person familiar with the matter. Customers who cancel Comcast’s TV service for, say, YouTube TV will still get NBC’s streaming service for free. But at launch next year, the NBC streaming service won’t be a comp


The proof is in the details of NBC’s streaming service, coming next spring. And you’ll get a few originals for the streaming service, the quality of which is to be determined. NBC expects its revenue from cord cutters on its streaming service to be “completely immaterial,” according to a person familiar with the matter. Customers who cancel Comcast’s TV service for, say, YouTube TV will still get NBC’s streaming service for free. But at launch next year, the NBC streaming service won’t be a comp
NBC’s 2020 streaming service won’t be very compelling for cord cutters — and that’s by design Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: alex sherman
Keywords: news, cnbc, companies, wont, cord, disney, thats, live, nbcs, service, hulu, tv, 2020, compelling, nbc, paytv, streaming, design, customers, cutters


NBC's 2020 streaming service won't be very compelling for cord cutters — and that's by design

The streaming wars — the race to launch subscription video products — has been driven by an underlying concept: The traditional pay-TV bundle is dying as millions of U.S. households cut the cord each year and shift their video consumption to services like Netflix.

This has been a hard pill to swallow for legacy media companies, which derive billions of dollars from traditional pay TV. Yet, many of those media companies are coming to grips with reality and beginning to disrupt their own business models, headlined by Disney’s $6.99 Disney+ offering for this year.

That’s not the case for Comcast’s NBCUniversal (the parent company of CNBC and CNBC.com).

NBC doesn’t want you to cut the cord. Maybe this isn’t too surprising since its owner is the largest U.S. cable company. But it’s unusual because it directly contradicts the disruption narrative. Instead of submissively accepting that the pay-TV world is ending, NBC is taking a stand and fighting back.

The proof is in the details of NBC’s streaming service, coming next spring.

NBC’s ad-supported streaming service will be free to all customers who pay for traditional live television — whether through Comcast or any other provider, including virtual pay-TV bundles like Google’s YouTube TV or AT&T’s DirecTV Now, assuming partnership deals are struck, according to people familiar with the matter.

For those who have cut the cord, it will probably be about $10, said the people, who asked not to be named because the discussions on price are still ongoing.

CNBC has also learned that the free version of service for pay-TV subscribers will include live linear channels, same-season episodes and past-season episodes. Customers will be able to watch NBC programming anywhere, on any device, independent of their cable provider’s footprint. NBC will have nonexclusive access to all of the programming it sells to Hulu for the streaming service, as part of the deal with Disney the two companies announced on Tuesday.

But the $10 version for cord cutters won’t include live linear channels and won’t include same-season shows. You’ll get a bunch of reruns, most of which will also be available on Hulu if you already subscribe to that service. And you’ll get a few originals for the streaming service, the quality of which is to be determined.

So what are you getting for your $10 a month? Not much at first. And that’s the point.

NBC expects its revenue from cord cutters on its streaming service to be “completely immaterial,” according to a person familiar with the matter. The company is actively trying to make its cord-cutting streaming service inferior to its pay-TV version. The service is primarily meant as a nice additional benefit for customers who already pay for cable or satellite TV.

NBC’s decision isn’t totally motivated by supporting Comcast’s cable TV business. Now that Disney has full operational control of Hulu, Disney can bundle Hulu (or Hulu with Live TV) with Disney+ to make a compelling streaming offering that should further accelerate cord cutting. NBC is OK with this. Customers who cancel Comcast’s TV service for, say, YouTube TV will still get NBC’s streaming service for free.

NBC will certainly monitor the take rate of its streaming service among non pay-TV subscribers if cord cutting dramatically accelerates. If necessary, it can move content on and off its service thanks to Tuesday’s deal with Hulu, as well as the impending expiration of streaming-rights deals for popular shows it owns, such as “The Office.” And three years from now, when its content deal with Hulu ends, there’s an easy path for NBC to make its streaming service more compelling by making all its content exclusive to it.

But at launch next year, the NBC streaming service won’t be a compelling addition for cord cutters. And that’s the point.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC and CNBC.com.

WATCH: Comcast will sell its Hulu stake to Disney, giving Disney full control


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: alex sherman
Keywords: news, cnbc, companies, wont, cord, disney, thats, live, nbcs, service, hulu, tv, 2020, compelling, nbc, paytv, streaming, design, customers, cutters


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C3 2019 Disruptor 50

With so many products — everything from smart refrigerators and ovens to oil pumps — becoming connected to the internet, C3 (formerly C3 IoT) realized there was an abundance of information about how all these devices are performing. C3 began life as a software venture for the energy industry. But after the recession, when spending on software in the energy industry had all but dried up, Siebel course-corrected. Two new AI applications — antimoney laundering AML and manufacturing yield optimizati


With so many products — everything from smart refrigerators and ovens to oil pumps — becoming connected to the internet, C3 (formerly C3 IoT) realized there was an abundance of information about how all these devices are performing. C3 began life as a software venture for the energy industry. But after the recession, when spending on software in the energy industry had all but dried up, Siebel course-corrected. Two new AI applications — antimoney laundering AML and manufacturing yield optimizati
C3 2019 Disruptor 50 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: cnbccom staff, george kavallines, source, indigo agriculture, leah millis, prakash singh, afp, getty images
Keywords: news, cnbc, companies, disruptor, siebel, software, 2019, data, c3, company, aml, customers, energy, 50, industry, laundering


C3 2019 Disruptor 50

With so many products — everything from smart refrigerators and ovens to oil pumps — becoming connected to the internet, C3 (formerly C3 IoT) realized there was an abundance of information about how all these devices are performing. Its software can read all that data and tell its owners — companies in industries such as aerospace, financial services, health care, retailing and utilities, to name a few — if something is about to break down, or the most efficient ways to use sensor data in their supply chain management.

Read More: FULL LIST 2019 DISRUPTOR 50

The company was launched in 2009 by Thomas Siebel, the same man who started, and sold, Siebel Systems, the customer relationship management software firm, to Oracle in 2006 for $6 billion. C3 began life as a software venture for the energy industry. But after the recession, when spending on software in the energy industry had all but dried up, Siebel course-corrected. Two new AI applications — antimoney laundering AML and manufacturing yield optimization — are in trials with customers today. C3 says in the case of its AML offering, a large global bank has improved identification of potential money laundering by 200% while reducing false alarms by 85%.

Today the Redwood City, California-based company counts 3M, the New York Power Authority and Shell among its customers. The company has raised $228 million so far from investors, including TPG Growth and Breyer Capital.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: cnbccom staff, george kavallines, source, indigo agriculture, leah millis, prakash singh, afp, getty images
Keywords: news, cnbc, companies, disruptor, siebel, software, 2019, data, c3, company, aml, customers, energy, 50, industry, laundering


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Maine becomes the first state to ban foam containers — here’s what that means for restaurants

Maine became the first state to ban Styrofoam containers this week in a win for environmental activists but a blow to the restaurant industry. The polystyrene foam take-out containers and cups targeted by lawmakers are durable and waterproof — but also difficult and costly to recycle. Swapping out foam takeout containers and cups will likely be costly for restaurateurs already struggling with razor-thin profits. Chains like Sweetgreen are adopting compostable containers. Some compostable contain


Maine became the first state to ban Styrofoam containers this week in a win for environmental activists but a blow to the restaurant industry. The polystyrene foam take-out containers and cups targeted by lawmakers are durable and waterproof — but also difficult and costly to recycle. Swapping out foam takeout containers and cups will likely be costly for restaurateurs already struggling with razor-thin profits. Chains like Sweetgreen are adopting compostable containers. Some compostable contain
Maine becomes the first state to ban foam containers — here’s what that means for restaurants Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: amelia lucas
Keywords: news, cnbc, companies, containers, starbucks, takeout, state, means, lid, customers, heres, straw, maine, plastic, foam, ban, restaurants, compostable


Maine becomes the first state to ban foam containers — here's what that means for restaurants

Maine became the first state to ban Styrofoam containers this week in a win for environmental activists but a blow to the restaurant industry.

Democratic Gov. Janet Mills signed the bill into law Tuesday. The ban will go into effect Jan. 1, 2021.

Hospitals, Meals-on-Wheels providers and lobster dealers would be exempt from the ban. But it still applies to restaurants, food trucks, caterers, grocery stores and other businesses.

Maryland’s legislature passed a similar bill in March, but Republican Gov. Larry Hogan has not yet publicly stated if he will sign it into law. Vermont, Colorado, Oregon and New Jersey all have similar bills in the works. Cities like Minneapolis, Seattle and New York have all imposed their own bans.

The polystyrene foam take-out containers and cups targeted by lawmakers are durable and waterproof — but also difficult and costly to recycle. The foam can also break down into tiny pieces, polluting streets and waterways.

It isn’t just lawmakers pushing for more sustainable restaurants. Consumers want to spend their money without harming the environment. According to a Nielsen survey, 48 percent of Americans said they would definitely or probably change their spending habits to reduce their environmental impact. Last year, consumer pressure led companies like Starbucks and Disney to ditch plastic straws.

Despite the consumer demand for greener restaurants, the industry has largely been slow to respond. Swapping out foam takeout containers and cups will likely be costly for restaurateurs already struggling with razor-thin profits.

However, Green Restaurant Association CEO Michael Oshman said choosing a holistic approach to sustainability, including switching to toilets that use less water and using more efficient lightbulbs, usually offsets the additional costs of adapting and even helps the bottom line.

Some affected by foam bans will likely opt for another type of single-use plastic container or cup, but the restriction also offers the opportunity to make a greener choice to appeal to consumers who care about the environment.

As the adage “reduce, reuse, recycle” goes, the first and best option should be to reduce usage. But with the swell of delivery thanks to third-party services, that’s not likely to happen.

The second, reuse, is a little more difficult to implement when it comes to takeout cups and containers. One possible option is deposit systems that encourage customers to return reusable packaging or containers. But Oshman said those are still in their infancy, with less than a fraction of 1 percent of the industry choosing to handle the problem that way.

That leaves recycling. Restaurants can opt for containers that are easily recycled or made from recycled material. Chains like Sweetgreen are adopting compostable containers.

But that option comes with its own difficulties. Some compostable containers require industrial composting that uses higher temperatures to break the material down, instead of biodegrading in an at-home compost heap. And most customers taking their food home or back to the office won’t have access to a compost heap.

“Curbside composting is not there yet,” Oshman said. “That compostable product ends up in the garbage.”

Restaurants will also have to navigate consumer reactions. Amid 2018’s plastic straw debate, some Starbucks customers reacted less than enthusiastically to the news that the coffee chain was phasing out straws for most of its drinks in favor of a new sippy cup-esque lid.

Disability rights advocates expressed concern that the move would mean that customers with disabilities could face difficulties drinking iced beverages. Others pointed out that the new lid would actually use more plastic than the straw and old lid combined.

Starbucks listened to the concerns. It tweaked the design of the new lid, which is also made of more recoverable material than a straw, and offers compostable plastic straws upon request.

“We have worked to lightweight that lid, so we’re able to validate that the solution, at the end of the day, has a net negative plastic use,” Starbucks’ global director of environment Rebecca Zimmer said in March.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: amelia lucas
Keywords: news, cnbc, companies, containers, starbucks, takeout, state, means, lid, customers, heres, straw, maine, plastic, foam, ban, restaurants, compostable


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Wayfair shares plunge 12% as losses widen, hurt by high costs

Shares of online furniture retailer Wayfair plunged as much as 12% Thursday after the company reported a double-digit gain in first-quarter revenue, but losses widened amid high costs. Wayfair’s revenue rose 39% to $1.94 billion in the first quarter of the year, compared with the $1.92 billion expected by analysts, according to Refinitiv. Wayfair’s loss widened to $200.4 million, or $2.20 a share, from $107.8 million, or $1.22 a share, during the same period a year earlier. The company also said


Shares of online furniture retailer Wayfair plunged as much as 12% Thursday after the company reported a double-digit gain in first-quarter revenue, but losses widened amid high costs. Wayfair’s revenue rose 39% to $1.94 billion in the first quarter of the year, compared with the $1.92 billion expected by analysts, according to Refinitiv. Wayfair’s loss widened to $200.4 million, or $2.20 a share, from $107.8 million, or $1.22 a share, during the same period a year earlier. The company also said
Wayfair shares plunge 12% as losses widen, hurt by high costs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: matt lavietes, lauren thomas
Keywords: news, cnbc, companies, share, shares, company, costs, customers, high, 12, billion, widened, million, online, plunge, widen, stock, losses, hurt, quarter, wayfair


Wayfair shares plunge 12% as losses widen, hurt by high costs

Shares of online furniture retailer Wayfair plunged as much as 12% Thursday after the company reported a double-digit gain in first-quarter revenue, but losses widened amid high costs.

Wayfair’s revenue rose 39% to $1.94 billion in the first quarter of the year, compared with the $1.92 billion expected by analysts, according to Refinitiv.

Wayfair’s loss widened to $200.4 million, or $2.20 a share, from $107.8 million, or $1.22 a share, during the same period a year earlier. On a pro forma basis, it lost $1.62 a share, but that was steeper than the $1.60 a share loss analysts were expecting.

The company also said it had 16.4 million active customers in the first quarter, 39% greater than the same period last year.

Although its number of repeat customers rose from a year ago and the average order value crept up to $237 in the first quarter, expenses are still weighing on the company’s bottom line. Wayfair said it is investing in its logistics infrastructure and new product offerings.

The company is also spending a lot to acquire new customers, according to Daniel McCarthy, an assistant professor of marketing at Emory University. He has been warning about this trend for some time. In the first quarter, customer acquisition costs were $88 per customer.

The Boston-based company’s stock has become notorious for attracting short sellers within the online retail sector. Skeptics have highlighted that while the company has been able to master the art of selling furniture online, it has yet to do so profitably. And Thursday’s report did little to quell investor concerns.

Despite Thursday’s vast sell-off, Wayfair’s stock, which is valued at $13.3 billion, has climbed 61% this year. In the past 12 months, the stock has surged more than 95%.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: matt lavietes, lauren thomas
Keywords: news, cnbc, companies, share, shares, company, costs, customers, high, 12, billion, widened, million, online, plunge, widen, stock, losses, hurt, quarter, wayfair


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Cramer: Apple proves that once it hooks customers into its ecosystem they spend, spend, spend

Apple’s better-than-expected earnings prove that the tech giant has successfully transitioned from being known mainly as an iPhone maker to being a services business as well, CNBC’s Jim Cramer said Wednesday. “A lot of people gave up on the stock because they just viewed it as a handset company,” said Cramer, whose charitable trust owns shares of Apple. “Obviously what’s happened in the last 18 months … is it’s become much more of a subscription stock,” he added on “Squawk on the Street.” “Onc


Apple’s better-than-expected earnings prove that the tech giant has successfully transitioned from being known mainly as an iPhone maker to being a services business as well, CNBC’s Jim Cramer said Wednesday. “A lot of people gave up on the stock because they just viewed it as a handset company,” said Cramer, whose charitable trust owns shares of Apple. “Obviously what’s happened in the last 18 months … is it’s become much more of a subscription stock,” he added on “Squawk on the Street.” “Onc
Cramer: Apple proves that once it hooks customers into its ecosystem they spend, spend, spend Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, apple, hooks, stock, tech, spends, spend, whats, trust, ecosystem, person, wednesdaya, customers, cramer, transitioned, proves, viewed


Cramer: Apple proves that once it hooks customers into its ecosystem they spend, spend, spend

Apple’s better-than-expected earnings prove that the tech giant has successfully transitioned from being known mainly as an iPhone maker to being a services business as well, CNBC’s Jim Cramer said Wednesday.

“A lot of people gave up on the stock because they just viewed it as a handset company,” said Cramer, whose charitable trust owns shares of Apple.

“Obviously what’s happened in the last 18 months … is it’s become much more of a subscription stock,” he added on “Squawk on the Street.” “Once you get a person in the Apple ecosystem, that person just spends, spends, spends.”


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, apple, hooks, stock, tech, spends, spend, whats, trust, ecosystem, person, wednesdaya, customers, cramer, transitioned, proves, viewed


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Supermarket giant Sainsbury’s opens UK’s first checkout-free store

All customers at the Sainsbury’s convenience store, in Holborn Circus, London, will scan and pay for their shopping using an app that they download to their smartphone. U.S. tech giant Amazon, for example, has opened a number of checkout-free Amazon Go stores in Seattle, Chicago and San Francisco. Customers use their Amazon Go app to enter the store, where technology detects when items are taken off the shelves and put in a “virtual cart.” Once they are done shopping, customers walk out of the s


All customers at the Sainsbury’s convenience store, in Holborn Circus, London, will scan and pay for their shopping using an app that they download to their smartphone. U.S. tech giant Amazon, for example, has opened a number of checkout-free Amazon Go stores in Seattle, Chicago and San Francisco. Customers use their Amazon Go app to enter the store, where technology detects when items are taken off the shelves and put in a “virtual cart.” Once they are done shopping, customers walk out of the s
Supermarket giant Sainsbury’s opens UK’s first checkout-free store Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: anmar frangoul
Keywords: news, cnbc, companies, customers, uks, store, pay, cash, amazon, sainsburys, checkoutfree, supermarket, giant, app, spokesperson, opens, scan, technology


Supermarket giant Sainsbury's opens UK's first checkout-free store

One of the U.K.’s biggest supermarkets has opened a till-free store. All customers at the Sainsbury’s convenience store, in Holborn Circus, London, will scan and pay for their shopping using an app that they download to their smartphone.

As shoppers walk around the store, they will scan the items they wish to buy, pay using an app and then scan a QR code to confirm they have paid.

The store has been remodeled for the new technology, with its checkout area and tills removed. The pilot will last for three months, Sainsbury’s said Monday.

A helpdesk has been installed to support shoppers who want to pay with cash or cards. Sainsbury’s said that 82% of transactions at the shop were cashless.

“This is an experiment rather than a new format for us – it hasn’t been done in the U.K. before and we’re really excited to understand how our customers respond to the app experience,” Clodagh Moriarty, chief digital officer at the Sainsbury’s Group, said in a statement.

“We’ll be with our customers and colleagues all the way over the coming months, iterating continuously based on their feedback before we decide if, how and where we make this experience more widely available,” Moriarty added.

A number of businesses are introducing technology that could transform the way people shop in stores. U.S. tech giant Amazon, for example, has opened a number of checkout-free Amazon Go stores in Seattle, Chicago and San Francisco.

Customers use their Amazon Go app to enter the store, where technology detects when items are taken off the shelves and put in a “virtual cart.” Once they are done shopping, customers walk out of the store, with a charge made to their Amazon account soon after.

Earlier this month, however, an Amazon spokesperson confirmed to CNBC via email that the company was planning to accept cash at its Go stores.

The spokesperson described the process as “you’ll check out, pay with cash, and then get your change.”

“We are working to accept cash at Amazon Go,” the spokesperson added.

CNBC’s Eugene Kim contributed to this report


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: anmar frangoul
Keywords: news, cnbc, companies, customers, uks, store, pay, cash, amazon, sainsburys, checkoutfree, supermarket, giant, app, spokesperson, opens, scan, technology


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HSBC’s new money management app has racked up 300,000 users in a year

HSBC has signed up more than 300,000 users to its new money management app in the U.K., an executive at the bank told CNBC. Connected Money, which was launched last year, is an attempt by the 154-year-old institution to simplify expense tracking and budgeting for its customers. ING-backed start-up Yolt meanwhile, which is more akin to HSBC’s new app, has pulled in more than 500,000 signups. Still, it’s an early sign of just how much traction one of HSBC’s latest forays into digital has gained. M


HSBC has signed up more than 300,000 users to its new money management app in the U.K., an executive at the bank told CNBC. Connected Money, which was launched last year, is an attempt by the 154-year-old institution to simplify expense tracking and budgeting for its customers. ING-backed start-up Yolt meanwhile, which is more akin to HSBC’s new app, has pulled in more than 500,000 signups. Still, it’s an early sign of just how much traction one of HSBC’s latest forays into digital has gained. M
HSBC’s new money management app has racked up 300,000 users in a year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: ryan browne
Keywords: news, cnbc, companies, customers, users, money, management, hsbc, digital, financial, uk, bank, app, valley, racked, hsbcs, 300000


HSBC's new money management app has racked up 300,000 users in a year

HSBC has signed up more than 300,000 users to its new money management app in the U.K., an executive at the bank told CNBC. Connected Money, which was launched last year, is an attempt by the 154-year-old institution to simplify expense tracking and budgeting for its customers. It shows a user their bank accounts from HSBC as well as rivals including Barclays and Lloyds.

A smart phone with the finance banking apps from HSBC. S3studio | Getty Images

Raman Bhatia, who is responsible for HSBC’s digital business in the U.K. and Europe, said in an interview that the response from customers to the new app has been “pretty impressive” so far — and it’s also given the bank some crucial learnings on how to continue developing it. “During the course of the last few months, what we have found is that aggregation per se is not that appealing,” he said. “What customers love about Connected Money is the ability to get more context around their spending and the ability to really turn financial coaching on its head.” For example, the app includes features that let users categorize their spending, figure out how much money they’ll have left after bills and get messaged insights and tips about their transactions. By contrast, U.S. rival Goldman Sachs said recently that it had attracted 200,000 customers in the U.K. for its digital retail bank Marcus. ING-backed start-up Yolt meanwhile, which is more akin to HSBC’s new app, has pulled in more than 500,000 signups. Still, it’s an early sign of just how much traction one of HSBC’s latest forays into digital has gained.

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The app is in part a response to new European rules that require banks to share their customer data with approved third-party firms — with customers’ consent — to enable them to create new financial products. Referred to by industry insiders as “open banking,” the aim is to increase competition and enable firms to have access to more data to create a broader picture of people’s finances. It also comes as HSBC and other large banks face increasing pressure from a variety of fintech, or financial technology, challengers — Revolut, N26 and Monzo just to name a few — which operate with only an app and no physical bank branches. Moreover, fellow U.K. bank RBS is working on a standalone digital bank called Bo which is expected to launch later this year.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: ryan browne
Keywords: news, cnbc, companies, customers, users, money, management, hsbc, digital, financial, uk, bank, app, valley, racked, hsbcs, 300000


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HSBC’s new money management app has racked up 300,000 users in a year

HSBC has signed up more than 300,000 users to its new money management app in the U.K., an executive at the bank told CNBC. Connected Money, which was launched last year, is an attempt by the 154-year-old institution to simplify expense tracking and budgeting for its customers. ING-backed start-up Yolt meanwhile, which is more akin to HSBC’s new app, has pulled in more than 500,000 signups. Still, it’s an early sign of just how much traction one of HSBC’s latest forays into digital has gained. M


HSBC has signed up more than 300,000 users to its new money management app in the U.K., an executive at the bank told CNBC. Connected Money, which was launched last year, is an attempt by the 154-year-old institution to simplify expense tracking and budgeting for its customers. ING-backed start-up Yolt meanwhile, which is more akin to HSBC’s new app, has pulled in more than 500,000 signups. Still, it’s an early sign of just how much traction one of HSBC’s latest forays into digital has gained. M
HSBC’s new money management app has racked up 300,000 users in a year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: ryan browne
Keywords: news, cnbc, companies, customers, users, money, management, hsbc, digital, financial, uk, bank, app, valley, racked, hsbcs, 300000


HSBC's new money management app has racked up 300,000 users in a year

HSBC has signed up more than 300,000 users to its new money management app in the U.K., an executive at the bank told CNBC. Connected Money, which was launched last year, is an attempt by the 154-year-old institution to simplify expense tracking and budgeting for its customers. It shows a user their bank accounts from HSBC as well as rivals including Barclays and Lloyds.

A smart phone with the finance banking apps from HSBC. S3studio | Getty Images

Raman Bhatia, who is responsible for HSBC’s digital business in the U.K. and Europe, said in an interview that the response from customers to the new app has been “pretty impressive” so far — and it’s also given the bank some crucial learnings on how to continue developing it. “During the course of the last few months, what we have found is that aggregation per se is not that appealing,” he said. “What customers love about Connected Money is the ability to get more context around their spending and the ability to really turn financial coaching on its head.” For example, the app includes features that let users categorize their spending, figure out how much money they’ll have left after bills and get messaged insights and tips about their transactions. By contrast, U.S. rival Goldman Sachs said recently that it had attracted 200,000 customers in the U.K. for its digital retail bank Marcus. ING-backed start-up Yolt meanwhile, which is more akin to HSBC’s new app, has pulled in more than 500,000 signups. Still, it’s an early sign of just how much traction one of HSBC’s latest forays into digital has gained.

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The app is in part a response to new European rules that require banks to share their customer data with approved third-party firms — with customers’ consent — to enable them to create new financial products. Referred to by industry insiders as “open banking,” the aim is to increase competition and enable firms to have access to more data to create a broader picture of people’s finances. It also comes as HSBC and other large banks face increasing pressure from a variety of fintech, or financial technology, challengers — Revolut, N26 and Monzo just to name a few — which operate with only an app and no physical bank branches. Moreover, fellow U.K. bank RBS is working on a standalone digital bank called Bo which is expected to launch later this year.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: ryan browne
Keywords: news, cnbc, companies, customers, users, money, management, hsbc, digital, financial, uk, bank, app, valley, racked, hsbcs, 300000


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Starbucks rolls out its summer line-up as cold drinks drive sales growth

As Starbucks signals the start of warmer weather by rolling out its summer menu Tuesday, investors can expect sales to heat up as customers clamor for its chilled drinks. Even in the chilly winter months, cold beverages have helped Starbucks’ sales grow. So the company’s strategy has focused its innovation on cold options, like cold foam. Additionally, cold drinks are helping attract customers into stores during all parts of the day, way past the busy morning rush. Here’s its summer drink line-u


As Starbucks signals the start of warmer weather by rolling out its summer menu Tuesday, investors can expect sales to heat up as customers clamor for its chilled drinks. Even in the chilly winter months, cold beverages have helped Starbucks’ sales grow. So the company’s strategy has focused its innovation on cold options, like cold foam. Additionally, cold drinks are helping attract customers into stores during all parts of the day, way past the busy morning rush. Here’s its summer drink line-u
Starbucks rolls out its summer line-up as cold drinks drive sales growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: amelia lucas
Keywords: news, cnbc, companies, drinks, stores, customers, growth, drive, drink, starbucks, ticket, summer, cold, roz, lineup, rolls, sales, innovation


Starbucks rolls out its summer line-up as cold drinks drive sales growth

As Starbucks signals the start of warmer weather by rolling out its summer menu Tuesday, investors can expect sales to heat up as customers clamor for its chilled drinks.

Even in the chilly winter months, cold beverages have helped Starbucks’ sales grow. So the company’s strategy has focused its innovation on cold options, like cold foam. Another chilled beverage innovation, Nitro Cold Brew, is available in about half of its U.S. stores as Starbucks targets nationwide availability by the end of year.

In its second quarter, the company reported sales at stores open at least 12 months rose 3%, beating Wall Street’s estimates of 2.9%. Starbucks attributed the growth to a 3% increase in average customer ticket. Nearly half of the ticket growth came from customers trading up to pricier drinks like the Cloud Macchiato.

Additionally, cold drinks are helping attract customers into stores during all parts of the day, way past the busy morning rush. Afternoon performance during the latest quarter was the best it’s been in three years.

“We have seen when we introduce more of our cold beverage innovation, it’s improving afternoons and our non-[Starbucks Rewards] members tend to shop with us in the afternoons,” COO Roz Brewer said on the quarterly conference call with analysts Thursday.

But, one cold option has been getting less love. Starbucks has been moving away from limited-time Frappuccinos. The last one to make a noticeable impact on sales was the Unicorn Frappuccino, which was introduced in April 2017. Since then the Seattle-based company has largely failed to replicate its success with another version of the blended drink. This year, its summer menu is bringing back three popular versions of the blended drink without introducing any new Frappuccino options.

“We’re learning that it’s an ‘and’ and not an ‘or,” Starbucks COO Roz Brewer said in an interview, adding that Frappuccinos will always stay on its menu.

The coffee chain is also introducing a Crispy Grilled Cheese Sandwich, Baja Black Bean Veggie Wrap and Frosted Doughnut Cake Pop for the summer.

Here’s its summer drink line-up:


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: amelia lucas
Keywords: news, cnbc, companies, drinks, stores, customers, growth, drive, drink, starbucks, ticket, summer, cold, roz, lineup, rolls, sales, innovation


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