Oil rises on expected OPEC cuts, but surging US supply drags

Oil prices rose on Friday amid expectations of supply cuts from OPEC, although record U.S. production dragged. Brent crude oil futures were up 48 cents, or 0.7 percent, at $67.10 per barrel. “OPEC production cuts are usually implemented by removing medium and heavier barrels from the market but that does not address the oversupply of light-sweet.” Crude inventories soared 10.3 million barrels in the week to Nov. 9 to 442.1 million barrels, the highest level since early December 2017. “We expect


Oil prices rose on Friday amid expectations of supply cuts from OPEC, although record U.S. production dragged. Brent crude oil futures were up 48 cents, or 0.7 percent, at $67.10 per barrel. “OPEC production cuts are usually implemented by removing medium and heavier barrels from the market but that does not address the oversupply of light-sweet.” Crude inventories soared 10.3 million barrels in the week to Nov. 9 to 442.1 million barrels, the highest level since early December 2017. “We expect
Oil rises on expected OPEC cuts, but surging US supply drags Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: andrew burton, getty images
Keywords: news, cnbc, companies, surging, production, crude, bpd, barrels, expected, rises, oil, opec, drags, cuts, supply, record, million


Oil rises on expected OPEC cuts, but surging US supply drags

Oil prices rose on Friday amid expectations of supply cuts from OPEC, although record U.S. production dragged.

U.S. West Texas Intermediate (WTI) crude oil futures were at $56.84 per barrel at 0353 GMT, up 38 cents, or 0.7 percent, from their last settlement.

Brent crude oil futures were up 48 cents, or 0.7 percent, at $67.10 per barrel.

Prices were mainly supported by expectations the Organization of the Petroleum Exporting Countries (OPEC) would start withholding supply soon, fearing a renewed rout such as in 2014 when prices crashed under the weight of oversupply.

OPEC’s de-facto leader Saudi Arabia wants the cartel and its allies to cut output by about 1.4 million barrels per day (bpd), around 1.5 percent of global supply, sources told Reuters this week.

However, Morgan Stanley warned a cut by the Middle East dominated producer cartel may not have the desired effect.

“The main oil price benchmarks – Brent and WTI – are both light-sweet crudes and reflect this glut,” the U.S. bank said.

“OPEC production cuts are usually implemented by removing medium and heavier barrels from the market but that does not address the oversupply of light-sweet.”

Due to the structural oversupply that has emerged in the market from record production by many countries, Morgan Stanley said that “OPEC cuts are inherently temporary (because) all they can do is shift production from one period to another”.

While OPEC considers withholding supply, U.S. crude oil production reached another record last week, at 11.7 million bpd, according to U.S. Energy Information Administration (EIA) data published on Thursday.

U.S. output has surged by almost a quarter since the start of the year.

The record output meant U.S. crude oil stocks posted the biggest weekly build in nearly two years.

Crude inventories soared 10.3 million barrels in the week to Nov. 9 to 442.1 million barrels, the highest level since early December 2017.

This surge contributed to oil prices falling by around a quarter since early October, taking many by surprise.

“Oil bulls, us included, have capitulated and we no longer see oil climbing to $95 per barrel next year,” Bank of America Merrill Lynch said in a note.

While sentiment has turned bearish, some analysts warn that 2019 could be tighter than expected.

“We expect 2019 oil demand to reach 101.1 million bpd,” natural resources research and investment firm Goehring & Rozencwajg said, up from just under 100 million bpd this year.

At the same time, the firm said production outside North America was set to disappoint.

Add OPEC’s expected supply cuts, and Goehring & Rozencwajg said “those investors who are able to adopt a contrarian stance … and stomach the volatility … are being presented with an excellent investment opportunity” to buy into oil after the recent slump.

Bank of America agreed, saying “we believe oil is oversold and will likely bounce up from the current levels, as OPEC+ dials back production in December”.


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: andrew burton, getty images
Keywords: news, cnbc, companies, surging, production, crude, bpd, barrels, expected, rises, oil, opec, drags, cuts, supply, record, million


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Tesla cuts prices on solar power systems as it looks to entice customers

Tesla has reduced prices on its solar power systems as it looks to make sustainable energy use more affordable. This pricing change would help Tesla’s average customer make savings of between $3,000 and $4,000, the spokesperson added. “This change, along with our push to continue shortening the time between sale to installation, will accelerate the adoption of solar and the world’s transition to sustainable energy.” Shah added that the business wanted to become the lowest-cost solar provider in


Tesla has reduced prices on its solar power systems as it looks to make sustainable energy use more affordable. This pricing change would help Tesla’s average customer make savings of between $3,000 and $4,000, the spokesperson added. “This change, along with our push to continue shortening the time between sale to installation, will accelerate the adoption of solar and the world’s transition to sustainable energy.” Shah added that the business wanted to become the lowest-cost solar provider in
Tesla cuts prices on solar power systems as it looks to entice customers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: anmar frangoul, smith collection gado, archive photos, getty images
Keywords: news, cnbc, companies, prices, spokesperson, power, systems, sustainable, customers, tesla, entice, cuts, teslas, solar, energy, sales, looks


Tesla cuts prices on solar power systems as it looks to entice customers

Tesla has reduced prices on its solar power systems as it looks to make sustainable energy use more affordable.

“As a result of the vertical integration of our solar products into Tesla’s retail stores and the increased efficiencies we’ve realized over the past year by closing more expensive sales channels like door-to-door sales, we are now able to reduce prices for our solar power systems,” a Tesla spokesperson told CNBC in a statement Friday.

This pricing change would help Tesla’s average customer make savings of between $3,000 and $4,000, the spokesperson added. “This change, along with our push to continue shortening the time between sale to installation, will accelerate the adoption of solar and the world’s transition to sustainable energy.”

In an interview with Reuters on Thursday, Tesla’s senior vice president of energy operations, Sanjay Shah, said that the price reductions should make the firm “highly competitive.”

Shah added that the business wanted to become the lowest-cost solar provider in the U.S., Reuters reported.

Tesla deployed 93 megawatts of solar energy generation systems in the third quarter of 2018.


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: anmar frangoul, smith collection gado, archive photos, getty images
Keywords: news, cnbc, companies, prices, spokesperson, power, systems, sustainable, customers, tesla, entice, cuts, teslas, solar, energy, sales, looks


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Oil prices whipsaw as OPEC allies ramp up talk of supply cuts at December meeting

OPEC Sec-Gen: We remain very focused on our principal objective 7 Hours Ago | 03:27OPEC officials quickly sought to reassure energy market participants on Wednesday, as oil prices fluctuated wildly ahead of a much-anticipated meeting between the influential oil cartel and its allied partners in early December. The growing prospect of OPEC and non-OPEC members cutting output next month helped Brent crude rebound toward $66 a barrel Wednesday morning. Speaking to CNBC at the ADIPEC oil summit in A


OPEC Sec-Gen: We remain very focused on our principal objective 7 Hours Ago | 03:27OPEC officials quickly sought to reassure energy market participants on Wednesday, as oil prices fluctuated wildly ahead of a much-anticipated meeting between the influential oil cartel and its allied partners in early December. The growing prospect of OPEC and non-OPEC members cutting output next month helped Brent crude rebound toward $66 a barrel Wednesday morning. Speaking to CNBC at the ADIPEC oil summit in A
Oil prices whipsaw as OPEC allies ramp up talk of supply cuts at December meeting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: sam meredith, nick oxford
Keywords: news, cnbc, companies, wildly, cuts, energy, opec, oil, group, barkindo, allied, meeting, market, talk, prices, supply, ramp, partners, allies, focused, whipsaw


Oil prices whipsaw as OPEC allies ramp up talk of supply cuts at December meeting

OPEC Sec-Gen: We remain very focused on our principal objective 7 Hours Ago | 03:27

OPEC officials quickly sought to reassure energy market participants on Wednesday, as oil prices fluctuated wildly ahead of a much-anticipated meeting between the influential oil cartel and its allied partners in early December.

The growing prospect of OPEC and non-OPEC members cutting output next month helped Brent crude rebound toward $66 a barrel Wednesday morning.

It comes after OPEC President (and United Arab Emirates Energy Minister) Suhail al-Mazrouei and OPEC Secretary General Mohammed Barkindo said there was a consensus among the group to support a decision to balance the market in Vienna, Austria on December 6.

Speaking to CNBC at the ADIPEC oil summit in Abu Dhabi Wednesday, Barkindo said the Middle East-dominated group remains jointly focused with efforts to “restore stability” in energy markets.

Shortly thereafter, Mazrouei told CNBC’s Steve Sedgwick that OPEC would be careful not to “overreact” to this latest bout of oil market volatility. Instead, the 15-member group and its allied partners would “do what is necessary” over the coming weeks.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: sam meredith, nick oxford
Keywords: news, cnbc, companies, wildly, cuts, energy, opec, oil, group, barkindo, allied, meeting, market, talk, prices, supply, ramp, partners, allies, focused, whipsaw


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David Tepper’s Appaloosa takes new stake in Apple, cuts Facebook and Alibaba

Appaloosa Management added new stakes in Apple and State Street in the third quarter while cutting exposure to Facebook and e-commerce hub Alibaba. Billionaire manager David Tepper’s firm had added 100,000 shares of Apple and 1.2 million shares of financial firm State Street by the end of September. Appaloosa cut its position in Facebook by 1.8 million shares, to 3.3 million shares, and more than halved its stake in Bank of America, to 3.4 million shares. In mid-September, Tepper told CNBC that


Appaloosa Management added new stakes in Apple and State Street in the third quarter while cutting exposure to Facebook and e-commerce hub Alibaba. Billionaire manager David Tepper’s firm had added 100,000 shares of Apple and 1.2 million shares of financial firm State Street by the end of September. Appaloosa cut its position in Facebook by 1.8 million shares, to 3.3 million shares, and more than halved its stake in Bank of America, to 3.4 million shares. In mid-September, Tepper told CNBC that
David Tepper’s Appaloosa takes new stake in Apple, cuts Facebook and Alibaba Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: thomas franck, david orrell
Keywords: news, cnbc, companies, shares, stake, appaloosa, cuts, facebook, told, tepper, firm, apple, state, street, teppers, million, david, alibaba, takes


David Tepper's Appaloosa takes new stake in Apple, cuts Facebook and Alibaba

Appaloosa Management added new stakes in Apple and State Street in the third quarter while cutting exposure to Facebook and e-commerce hub Alibaba.

Billionaire manager David Tepper’s firm had added 100,000 shares of Apple and 1.2 million shares of financial firm State Street by the end of September. Appaloosa cut its position in Facebook by 1.8 million shares, to 3.3 million shares, and more than halved its stake in Bank of America, to 3.4 million shares.

Apple gained 0.6 percent in after hours trading following the release of Appaloosa’s filing with the Securities and Exchange Commission.

In mid-September, Tepper told CNBC that Facebook’s stock looked inexpensive at its price and that the fund had not reduced its holding.

“It’s kinda cheap in this market for the growth rate. So we’re still holding on as big as we were,” Tepper told CNBC’s Scott Wapner on Sept. 13.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: thomas franck, david orrell
Keywords: news, cnbc, companies, shares, stake, appaloosa, cuts, facebook, told, tepper, firm, apple, state, street, teppers, million, david, alibaba, takes


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Goldman Sachs cuts Apple iPhone estimates on negative supplier outlook

Goldman Sachs estimates Apple will produce 6 percent fewer iPhones next year than previously expected after key supplier Lumentum reduced its shipment outlook, according to a report Tuesday. “We are concerned that end demand for new iPhone models is deteriorating,” Goldman said in the note. “We note this could easily right itself given the bulk of demand comes in late December but we feel more prudent sell through forecasts are warranted due to the timing and magnitude of this warning.” WATCH:Ap


Goldman Sachs estimates Apple will produce 6 percent fewer iPhones next year than previously expected after key supplier Lumentum reduced its shipment outlook, according to a report Tuesday. “We are concerned that end demand for new iPhone models is deteriorating,” Goldman said in the note. “We note this could easily right itself given the bulk of demand comes in late December but we feel more prudent sell through forecasts are warranted due to the timing and magnitude of this warning.” WATCH:Ap
Goldman Sachs cuts Apple iPhone estimates on negative supplier outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: michael sheetz, visual china group, getty images
Keywords: news, cnbc, companies, note, warningwatchapples, apple, supplier, cuts, timing, shipment, estimates, tuesdaywe, warranted, negative, demand, stock, goldman, outlook, sachs, iphone


Goldman Sachs cuts Apple iPhone estimates on negative supplier outlook

Goldman Sachs estimates Apple will produce 6 percent fewer iPhones next year than previously expected after key supplier Lumentum reduced its shipment outlook, according to a report Tuesday.

“We are concerned that end demand for new iPhone models is deteriorating,” Goldman said in the note. “We note this could easily right itself given the bulk of demand comes in late December but we feel more prudent sell through forecasts are warranted due to the timing and magnitude of this warning.”

WATCH:Apple’s stock is plunging — Here’s what six experts say investors should know


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: michael sheetz, visual china group, getty images
Keywords: news, cnbc, companies, note, warningwatchapples, apple, supplier, cuts, timing, shipment, estimates, tuesdaywe, warranted, negative, demand, stock, goldman, outlook, sachs, iphone


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Apple stock slides after supplier Lumentum cuts outlook

In Lumentum’s annual filing for fiscal year 2018, it listed Apple as its largest customer, accounting for 30 percent of revenue. However, Lumentum did not mention Apple by name in its report Monday. In a note Monday, Wells Fargo gave Apple a market perform rating and said “investors could consider Lumentum’s updated guide as reflecting as much as a 30% cut in Apple orders.” Bank of America Merrill Lynch had a rosier outlook, maintaining its neutral rating for Apple. The note added that the new i


In Lumentum’s annual filing for fiscal year 2018, it listed Apple as its largest customer, accounting for 30 percent of revenue. However, Lumentum did not mention Apple by name in its report Monday. In a note Monday, Wells Fargo gave Apple a market perform rating and said “investors could consider Lumentum’s updated guide as reflecting as much as a 30% cut in Apple orders.” Bank of America Merrill Lynch had a rosier outlook, maintaining its neutral rating for Apple. The note added that the new i
Apple stock slides after supplier Lumentum cuts outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: lauren feiner, adam jeffery
Keywords: news, cnbc, companies, lumentum, stock, cuts, apple, note, production, largest, slides, cut, lumentums, rating, 30, fiscal, supplier, outlook


Apple stock slides after supplier Lumentum cuts outlook

Google and Facebook can’t be put in the same category, expert says 3 Hours Ago | 05:33

In a statement, Lumentum President and CEO Alan Lowe said, “We recently received a request from one of our largest Industrial and Consumer customers for laser diodes for 3D sensing to materially reduce shipments to them during our fiscal second quarter for previously placed orders that were originally scheduled for delivery during the quarter.”

In Lumentum’s annual filing for fiscal year 2018, it listed Apple as its largest customer, accounting for 30 percent of revenue. However, Lumentum did not mention Apple by name in its report Monday.

In a note Monday, Wells Fargo gave Apple a market perform rating and said “investors could consider Lumentum’s updated guide as reflecting as much as a 30% cut in Apple orders.”

Bank of America Merrill Lynch had a rosier outlook, maintaining its neutral rating for Apple. In a note Monday, analysts wrote that the guidance update could indicate “inventory build and also an earlier start to production … that could magnify the perceived impact of these cuts.” The note added that the new iPad Pro also uses FaceID, so the shipment cut may not translate directly to iPhone production.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: lauren feiner, adam jeffery
Keywords: news, cnbc, companies, lumentum, stock, cuts, apple, note, production, largest, slides, cut, lumentums, rating, 30, fiscal, supplier, outlook


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Oil dips as soaring US production outweighs talk of OPEC output cuts


Oil dips as soaring US production outweighs talk of OPEC output cuts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, dips, oil, output, talk, opec, cuts, outweighs, soaring, production



Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, dips, oil, output, talk, opec, cuts, outweighs, soaring, production


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Tax cuts have been controversial, but voters didn’t seem to care about them

The tax question will be coming up again when the new Congress takes over in January. Trump and the GOP leadership have tossed out the possibility of a “Tax Cut 2.0” proposal that would more closely target middle-income families. Phillips said House Democrats may want to adjust the tax cuts already in place toward lower-income earners, and even could look at repealing the corporate tax rate decrease. “But, even if cross-party agreement can be reached, infrastructure spending carries a long lifes


The tax question will be coming up again when the new Congress takes over in January. Trump and the GOP leadership have tossed out the possibility of a “Tax Cut 2.0” proposal that would more closely target middle-income families. Phillips said House Democrats may want to adjust the tax cuts already in place toward lower-income earners, and even could look at repealing the corporate tax rate decrease. “But, even if cross-party agreement can be reached, infrastructure spending carries a long lifes
Tax cuts have been controversial, but voters didn’t seem to care about them Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: jeff cox, caleb kenna
Keywords: news, cnbc, companies, voters, plans, care, controversial, infrastructure, likely, cuts, spending, growth, democrats, seen, tax, didnt, trumps, remain


Tax cuts have been controversial, but voters didn't seem to care about them

Views on overall household finances also split along party lines, with 69 percent saying they had seen no change over the past two years. Just 21 percent of Democrats noted improvement against 77 percent of Republicans. That conflicts with findings from Evercore ISI, which said this week that research shows the average household has seen a $363 monthly gain in disposal income this year, $85 of which has come from reductions in income tax withholding.

The tax question will be coming up again when the new Congress takes over in January.

Trump and the GOP leadership have tossed out the possibility of a “Tax Cut 2.0” proposal that would more closely target middle-income families. Democrats, though, are likely to balk and instead look at ways to plug the widening deficit, with any future big spending plans aimed at infrastructure rather than taxes.

“We expect no major tax legislation to become law under a divided Congress,” Alec Phillips, an economist at Goldman Sachs, said in a note. “Our projections of the growth impulse from fiscal policy assume no substantial tax changes will be enacted over the next few years, and the election result should not change this assumption.”

Phillips said House Democrats may want to adjust the tax cuts already in place toward lower-income earners, and even could look at repealing the corporate tax rate decrease. Those plans, though, likely would die in the Senate, which remains in Republican control.

Infrastructure, on the other hand, represents some common ground between Trump and the expected Democratic leadership. Spending on roads, bridges and transportation and other public works projects “over time can boost U.S. productivity growth, thus managing a smoother transition from the current tax-cuts fueled expansion to a more sustainable pace of growth in the years ahead,” said Lena Komileva, chief economist at G+ Economics.

“But, even if cross-party agreement can be reached, infrastructure spending carries a long lifespan from planning to return on investment,” she added.

Even if the two sides can hammer out an aggressive infrastructure bill, which would be the final step in Trump’s three-pronged approach that also includes lower taxes and less regulation, the earlier steps taken likely will remain largely untouched, according to the initial unofficial consensus following the midterms.

“Donald Trump’s economic policies will remain intact,” said Greg Valliere, chief global strategist at Horizon Investments. “He won’t get new initiatives passed in the House, but Trump’s tax cuts and deregulation are good for at least another two years.”

WATCH: Here’s what voters really cared about.


Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: jeff cox, caleb kenna
Keywords: news, cnbc, companies, voters, plans, care, controversial, infrastructure, likely, cuts, spending, growth, democrats, seen, tax, didnt, trumps, remain


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Gridlock in Washington won’t be good for a stock market thirsty for more tax cuts and spending

Bank of America’s comment on the topic is a good example of the current thinking: It says stocks could surge 12 percent on Washington gridlock. It’s true that gridlock often has been good for stocks, but it’s not clear it will be this time around. That’s how the tax cuts got through. While there is little chance that the Trump tax cuts will be rolled back with the Senate in Republican hands, there is also very little chance the tax cuts will be made permanent with the Democrats in the House. Thi


Bank of America’s comment on the topic is a good example of the current thinking: It says stocks could surge 12 percent on Washington gridlock. It’s true that gridlock often has been good for stocks, but it’s not clear it will be this time around. That’s how the tax cuts got through. While there is little chance that the Trump tax cuts will be rolled back with the Senate in Republican hands, there is also very little chance the tax cuts will be made permanent with the Democrats in the House. Thi
Gridlock in Washington won’t be good for a stock market thirsty for more tax cuts and spending Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-06  Authors: bob pisani, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, trump, washington, little, stock, spending, gridlock, cuts, likely, environment, market, good, stocks, stimulus, wont, tax, thirsty


Gridlock in Washington won't be good for a stock market thirsty for more tax cuts and spending

I can’t be the only person who has a problem with the consensus on the election and the markets.

The consensus view is that the Democrats will take the House and the Republicans will keep control in the Senate, and that this combination will be good for stocks because gridlock is traditionally good for stocks. Bank of America’s comment on the topic is a good example of the current thinking: It says stocks could surge 12 percent on Washington gridlock.

It’s true that gridlock often has been good for stocks, but it’s not clear it will be this time around. Remember, much of the benefit to stocks in the last two years has come because we were not in a gridlocked environment. That’s how the tax cuts got through.

So, for the last two years, stocks have risen because Washington was not gridlocked. But now we’re expected to believe stocks will go up because it is gridlocked.

Many aspects of the Trump administration’s agenda will certainly continue, such as banking deregulation. While there is little chance that the Trump tax cuts will be rolled back with the Senate in Republican hands, there is also very little chance the tax cuts will be made permanent with the Democrats in the House.

In addition, more stimulus may be tough to come by. Many people, myself included, believe the Republicans will become much more concerned with the buildup in deficits. If that is the case, there will be very little room for any stimulus spending, particularly on the infrastructure projects that everyone agrees are needed but disagrees on how to pay for them.

And if there is even a slight slowdown in the economy, which seems likely, President Donald Trump will likely try to blame the Federal Reserve for raising rates, which will put the Fed in a box that will make it difficult for it to back down.

The Democrats will certainly begin a long investigation into Trump’s finances. Trade tensions will continue. Interest rates are rising.

Thank goodness, not everyone is on board with all this happy talk that the markets will inevitably rise on gridlock. Ben Snider at Goldman Sachs, in a note to clients on Election Day, noted that should the consensus on the election prevail, “we would expect markets to price slightly weaker fiscal stimulus and growth, as well as continued trade tensions, which likely means downside risk to Treasury yields.”

He went on to note that “US equities have historically performed well following midterm elections, regardless of the outcome, although this could be less likely in the current environment with less potential for fiscal policy easing.”

Amen to that. This is a very different environment than last November, when tax cuts were imminent.


Company: cnbc, Activity: cnbc, Date: 2018-11-06  Authors: bob pisani, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, trump, washington, little, stock, spending, gridlock, cuts, likely, environment, market, good, stocks, stimulus, wont, tax, thirsty


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China plans more tax cuts to spur consumption, vice finance minister says

Chinese consumers are becoming wary of spending 17 Mins Ago | 02:08China is planning more tax cuts to help spur domestic consumption, Vice Finance Minister Zou Jiayi told Reuters on Thursday. The finance ministry has pledged a more active fiscal policy to help bolster China’s slowing economy. China will provide $30.72 billion in new funding to poor areas from 2018 to 2020, Zou said on the sidelines of a forum in Beijing.


Chinese consumers are becoming wary of spending 17 Mins Ago | 02:08China is planning more tax cuts to help spur domestic consumption, Vice Finance Minister Zou Jiayi told Reuters on Thursday. The finance ministry has pledged a more active fiscal policy to help bolster China’s slowing economy. China will provide $30.72 billion in new funding to poor areas from 2018 to 2020, Zou said on the sidelines of a forum in Beijing.
China plans more tax cuts to spur consumption, vice finance minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-01
Keywords: news, cnbc, companies, spur, told, tax, plans, thursdaythe, spending, cuts, vice, finance, china, zou, wary, minister, help, consumption


China plans more tax cuts to spur consumption, vice finance minister says

Chinese consumers are becoming wary of spending 17 Mins Ago | 02:08

China is planning more tax cuts to help spur domestic consumption, Vice Finance Minister Zou Jiayi told Reuters on Thursday.

The finance ministry has pledged a more active fiscal policy to help bolster China’s slowing economy.

China will provide $30.72 billion in new funding to poor areas from 2018 to 2020, Zou said on the sidelines of a forum in Beijing.


Company: cnbc, Activity: cnbc, Date: 2018-11-01
Keywords: news, cnbc, companies, spur, told, tax, plans, thursdaythe, spending, cuts, vice, finance, china, zou, wary, minister, help, consumption


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