Trump-ally Farage waits in the wings as the UK hunts for a leader

Donald Trump, right, greets Nigel Farage during a campaign rally at the Mississippi Coliseum on August 24, 2016 in Jackson, Mississippi. Nigel Farage successfully spearheaded a campaign over several years to remove Britain from the EU by forcing the mainstream Conservative Party to hold a referendum. Tapping into the apparent public anger at the failure to leave the EU on the original date, Farage has returned to center-stage, leading a newly-formed outfit known as the Brexit Party. “Good meetin


Donald Trump, right, greets Nigel Farage during a campaign rally at the Mississippi Coliseum on August 24, 2016 in Jackson, Mississippi. Nigel Farage successfully spearheaded a campaign over several years to remove Britain from the EU by forcing the mainstream Conservative Party to hold a referendum. Tapping into the apparent public anger at the failure to leave the EU on the original date, Farage has returned to center-stage, leading a newly-formed outfit known as the Brexit Party. “Good meetin
Trump-ally Farage waits in the wings as the UK hunts for a leader Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: david reid
Keywords: news, cnbc, companies, leave, told, waits, farage, trade, hunts, trumpally, wings, trump, talks, party, president, brexit, leader, uk


Trump-ally Farage waits in the wings as the UK hunts for a leader

Donald Trump, right, greets Nigel Farage during a campaign rally at the Mississippi Coliseum on August 24, 2016 in Jackson, Mississippi.

The man who President Donald Trump quietly met in London this week looks well positioned to set the tone of the U.K.’s fractured political scene.

Nigel Farage successfully spearheaded a campaign over several years to remove Britain from the EU by forcing the mainstream Conservative Party to hold a referendum. After the vote to leave won, the U.K. was meant to leave the trading bloc at the end of March 2019, but has still not achieved that goal.

Tapping into the apparent public anger at the failure to leave the EU on the original date, Farage has returned to center-stage, leading a newly-formed outfit known as the Brexit Party.

Just six weeks after its registration, the Brexit Party contested the 2019 European Parliament election in late May, taking more than 30% of votes in the U.K. to become the largest single party across Europe.

On Friday, Farage stood outside 10 Downing Street holding a letter to outgoing Prime Minister Theresa May which reportedlys implores May to include Farage in any future Brexit negotiations. Potentially a strange request given that May is stepping down as Conservative leader on the same day and that Farage has recently said he supports no deal at all with Europe.

Prior to arriving in the United Kingdom for a state visit, Trump told reporters that the Brexit Party leader’s success showed that he should now be involved in exit talks with the EU.

“He is a very smart person,” he told the Sunday Times, before adding, “They won’t bring him. Think how well they would do if they did. They just haven’t figured that out yet.”

Following those supportive comments, the pair met at the London home of the U.S. ambassador on Tuesday and Farage subsequently tweeted that the meeting had gone well.

“Good meeting with President Trump — he really believes in Brexit and is loving his trip to London.”

Speaking on his regular radio show on Tuesday, Farage claimed that Britain’s government had shown it was ill-prepared for trade talks and he himself should conduct them when it came to trade deals with his friend Trump.

“Given this lack of preparedness, I am very, very keen to get a delegation of industrialists and business together to fly out to Washington D.C. to meet Bob Lighthizer, who is the Trump administration’s trade negotiator, and perhaps to start these discussions. If the government can’t do it, then maybe others will have to take that initiative,” Farage said.


Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: david reid
Keywords: news, cnbc, companies, leave, told, waits, farage, trade, hunts, trumpally, wings, trump, talks, party, president, brexit, leader, uk


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Fitch’s top analyst warns he’s ‘fearful’ of a long trade war

The global head of sovereign ratings at Fitch has said he is “fearful” that the trade standoff between China and the United States will not be resolved soon. “I am fearful that we are in for a long standoff between China and the United States,” said McCormack. Fitch’s top analyst on country risk added that the United States had gone a long way from simple concerns about trade imbalance figures which bothered few in Congress or the business community. White House trade adviser Peter Navarro has c


The global head of sovereign ratings at Fitch has said he is “fearful” that the trade standoff between China and the United States will not be resolved soon. “I am fearful that we are in for a long standoff between China and the United States,” said McCormack. Fitch’s top analyst on country risk added that the United States had gone a long way from simple concerns about trade imbalance figures which bothered few in Congress or the business community. White House trade adviser Peter Navarro has c
Fitch’s top analyst warns he’s ‘fearful’ of a long trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: david reid
Keywords: news, cnbc, companies, trade, warns, war, white, fearful, house, fitchs, hes, analyst, chinese, china, economic, risk, states, yergin, long, united


Fitch's top analyst warns he's 'fearful' of a long trade war

Chinese President Xi Jinping chats with President Donald Trump during a welcome ceremony in Beijing on Nov. 9, 2017.

The global head of sovereign ratings at Fitch has said he is “fearful” that the trade standoff between China and the United States will not be resolved soon.

Speaking on a panel at the St. Petersburg International Economic Forum (SPIEF) in Russia on Thursday, James McCormack told CNBC’s Geoff Cutmore that the trade debate has morphed into a situation that may harden positions.

“I am fearful that we are in for a long standoff between China and the United States,” said McCormack.

“There is a risk that we end up with the two biggest economies operating in parallel tracks in many regards and not in a cooperative way and the world economy will suffer from that.”

Fitch’s top analyst on country risk added that the United States had gone a long way from simple concerns about trade imbalance figures which bothered few in Congress or the business community.

McCormack said White House officials who wanted to take China on, finally felt momentum when the U.S. corporate sector started to complain about losses of intellectual property via forced tech transfers.

Forced technology transfer (FTT) means that when a foreign company wants to enter the Chinese market, it has to surrender its technology to Chinese companies through joint ventures.

Speaking on the same panel was the Vice Chairman of IHS Markit, Dan Yergin, who agreed that the increasing concern from the business community had put energy into White House efforts to widen their attack on Chinese practices.

Yergin said previously it was U.S. Democrats who were “kind of protectionist” while the Republicans were more amenable to free global trade. He said the switch by Republicans has allowed a coalescence of political support for Trump.

The economic historian said there was a risk that the trade spat could ultimately develop beyond rhetoric and tariffs to a “new clash of systems” between China and the United States.

White House trade adviser Peter Navarro has claimed that Trump’s isolationist tactics have been successful in bringing production back onshore to the U.S.

Addressing this claim, Yergin said he was skeptical that firms would make major investment decisions “based upon a few months of political wrangling.”

Also contributing to the discussion was the Deputy Minister of Economic Development for Russia, Timur Maksimov. He said the discussions between the U.S. and China were about trade “in form but were economic in substance.”

Maksimov added that trade deficit was not previously an issue for the Trump administration and that Washington was not particularly upset until China started to manufacture its own product rather than just assemble western goods.


Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: david reid
Keywords: news, cnbc, companies, trade, warns, war, white, fearful, house, fitchs, hes, analyst, chinese, china, economic, risk, states, yergin, long, united


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Ahead of Trump arrival, Ireland’s finance minister sounds trade warning

The finance minister of Ireland conceded that his country’s economy is at risk to the effects of a trade war between the likes of the EU, the U.S. and China. Paschal Donohoe told CNBC’s Willem Marx Wednesday that the country’s open and globalized economy does leave it exposed to unpredictable taxes and tariffs. President Donald Trump will arrive in Ireland later Wednesday to hold talks with Prime Minister Leo Varadkar. The two are expected to discuss a range of issues, including Brexit and trade


The finance minister of Ireland conceded that his country’s economy is at risk to the effects of a trade war between the likes of the EU, the U.S. and China. Paschal Donohoe told CNBC’s Willem Marx Wednesday that the country’s open and globalized economy does leave it exposed to unpredictable taxes and tariffs. President Donald Trump will arrive in Ireland later Wednesday to hold talks with Prime Minister Leo Varadkar. The two are expected to discuss a range of issues, including Brexit and trade
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Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: david reid
Keywords: news, cnbc, companies, irelands, economy, sounds, arrival, minister, irish, ahead, finance, trump, ireland, expected, look, trade, warning, varadkar


Ahead of Trump arrival, Ireland's finance minister sounds trade warning

The finance minister of Ireland conceded that his country’s economy is at risk to the effects of a trade war between the likes of the EU, the U.S. and China.

Paschal Donohoe told CNBC’s Willem Marx Wednesday that the country’s open and globalized economy does leave it exposed to unpredictable taxes and tariffs.

“Anything that happens in global trade does have an effect on the performance of our economy and there is a vulnerability that could develop into the future,” Donohoe said.

President Donald Trump will arrive in Ireland later Wednesday to hold talks with Prime Minister Leo Varadkar. The two are expected to discuss a range of issues, including Brexit and trade.

Donohoe said he expected Varadkar to spell out to Trump that U.S. exporters looking to sell in Europe, or in other parts of the world, would find Ireland an attractive place to set up base. The finance minister said evidence of this trend was already underway.

“Since the focus on President Trump’s trade policy has grown, we have actually seen more international investors and companies wanting to be here in Ireland.”

Donohoe added that the Irish leader would also look to strengthen its labor presence within the U.S.

“We want to look at how we can deepen Irish investment and job creation in America over the coming years,” he said.

Ireland and Brexit


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: david reid
Keywords: news, cnbc, companies, irelands, economy, sounds, arrival, minister, irish, ahead, finance, trump, ireland, expected, look, trade, warning, varadkar


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Drinking 25 cups of coffee a day is still safe for the heart, study says

People who drink up to 25 cups of coffee a day don’t run a greater risk of a heart attack. That’s the remarkable finding from a study of over 8,000 people in the U.K., carried out by the British Heart Foundation (BHF). Previous studies have linked drinking coffee with a hardening of the arteries that pump blood from your heart to other parts of the body. If arteries become stiff, it can increase stress on the heart and raise a person’s chance of having a heart attack or stroke. For the study, co


People who drink up to 25 cups of coffee a day don’t run a greater risk of a heart attack. That’s the remarkable finding from a study of over 8,000 people in the U.K., carried out by the British Heart Foundation (BHF). Previous studies have linked drinking coffee with a hardening of the arteries that pump blood from your heart to other parts of the body. If arteries become stiff, it can increase stress on the heart and raise a person’s chance of having a heart attack or stroke. For the study, co
Drinking 25 cups of coffee a day is still safe for the heart, study says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: david reid
Keywords: news, cnbc, companies, drink, coffee, 25, claimed, arteries, studies, drinking, study, heart, cups, day, british, safe


Drinking 25 cups of coffee a day is still safe for the heart, study says

People who drink up to 25 cups of coffee a day don’t run a greater risk of a heart attack.

That’s the remarkable finding from a study of over 8,000 people in the U.K., carried out by the British Heart Foundation (BHF).

Previous studies have linked drinking coffee with a hardening of the arteries that pump blood from your heart to other parts of the body. If arteries become stiff, it can increase stress on the heart and raise a person’s chance of having a heart attack or stroke.

But the fresh research, presented Monday at the British Cardiovascular Society (BCS) Conference, claimed that after looking at the heart scans of 8,412 people, it had “debunked” previous studies linking coffee to poor heart health.

For the study, coffee drinking was categorized into three groups: those who drink less than one cup a day, those who drink between one and three cups a day and those who drink more than three.

People who consumed more than 25 cups of coffee a day were excluded, but the BHP claimed that “no increased stiffening of arteries was associated with those who drank up to this high limit.”

“This research will hopefully put some of the media reports in perspective, as it rules out one of the potential detrimental effects of coffee on our arteries,” said Professor Metin Avkiran, Associate Medical Director at the British Heart Foundation in a statement.

In 2018, the findings of a study of around half-a-million British adults claimed that coffee drinkers were found to have a slightly lower risk of death over a 10-year follow-up period than non-coffee drinkers.

Other studies have claimed substances in coffee might reduce inflammation and improve how the body uses insulin, which could decrease the likelihood of developing diabetes.


Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: david reid
Keywords: news, cnbc, companies, drink, coffee, 25, claimed, arteries, studies, drinking, study, heart, cups, day, british, safe


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Theresa May resigns as UK prime minister amid Brexit crisis

Britain’s Theresa May announced her resignation as prime minister on Friday morning, drawing her turbulent three-year premiership to an abrupt end. But, she said it was with “deep regret” that she had ultimately failed to reach a consensus among lawmakers. “I will shortly leave the job that it has been the honor of my life to hold. The second female prime minister but certainly not the last.” Sterling briefly rose 0.5% to climb above $1.27 shortly after May’s statement, before paring gains as in


Britain’s Theresa May announced her resignation as prime minister on Friday morning, drawing her turbulent three-year premiership to an abrupt end. But, she said it was with “deep regret” that she had ultimately failed to reach a consensus among lawmakers. “I will shortly leave the job that it has been the honor of my life to hold. The second female prime minister but certainly not the last.” Sterling briefly rose 0.5% to climb above $1.27 shortly after May’s statement, before paring gains as in
Theresa May resigns as UK prime minister amid Brexit crisis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: sam meredith, david reid
Keywords: news, cnbc, companies, amid, ultimately, crisis, minister, resigns, theresa, threeyear, withdrawal, union, shortly, turbulent, country, uk, prime, brexit, voice


Theresa May resigns as UK prime minister amid Brexit crisis

Britain’s Theresa May announced her resignation as prime minister on Friday morning, drawing her turbulent three-year premiership to an abrupt end.

She will step down as Conservative Party leader on June 7.

In an emotional speech outside 10 Downing Street, May said she had “done everything” she could to convince members of Parliament to back the Brexit withdrawal agreement she had negotiated with the European Union. But, she said it was with “deep regret” that she had ultimately failed to reach a consensus among lawmakers.

“I believe it was right to persevere even when the odds against success seemed high, but it is now clear to me that it is in the best interests of the country for a new prime minister to lead that effort,” May said at a hastily arranged press conference.

“I will shortly leave the job that it has been the honor of my life to hold. The second female prime minister but certainly not the last.”

“I do so with no ill will but with enormous and enduring gratitude to have had the opportunity to serve the country I love,” May said, her voice shaking.

Sterling briefly rose 0.5% to climb above $1.27 shortly after May’s statement, before paring gains as investors digested the news.


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: sam meredith, david reid
Keywords: news, cnbc, companies, amid, ultimately, crisis, minister, resigns, theresa, threeyear, withdrawal, union, shortly, turbulent, country, uk, prime, brexit, voice


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Sterling falls as Brexit talks between the UK’s two main parties collapse

Prime Minister Theresa May and opposition Labour Party leader Jeremy Corbyn during the State Opening of Parliament on June 21, 2017 in London, United Kingdom. Hopes that the U.K.’s two largest political parties can hash out a Brexit agreement have ended. Six weeks of talks between the most senior lawmakers from the ruling Conservative Party and main opposition Labour party have ended with no deal. Corbyn added that the lack of support behind May and the likelihood that she will soon be replaced


Prime Minister Theresa May and opposition Labour Party leader Jeremy Corbyn during the State Opening of Parliament on June 21, 2017 in London, United Kingdom. Hopes that the U.K.’s two largest political parties can hash out a Brexit agreement have ended. Six weeks of talks between the most senior lawmakers from the ruling Conservative Party and main opposition Labour party have ended with no deal. Corbyn added that the lack of support behind May and the likelihood that she will soon be replaced
Sterling falls as Brexit talks between the UK’s two main parties collapse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: david reid
Keywords: news, cnbc, companies, parties, collapse, votes, talks, theresa, minister, parliament, uks, falls, main, party, versus, prime, sterling, brexit, labour


Sterling falls as Brexit talks between the UK's two main parties collapse

Prime Minister Theresa May and opposition Labour Party leader Jeremy Corbyn during the State Opening of Parliament on June 21, 2017 in London, United Kingdom.

Hopes that the U.K.’s two largest political parties can hash out a Brexit agreement have ended.

Six weeks of talks between the most senior lawmakers from the ruling Conservative Party and main opposition Labour party have ended with no deal. Labour leader Jeremy Corbyn wrote in a letter to Prime Minister Theresa May on Friday that talks had “gone as far as they can go” and his party will now oppose her Brexit proposal.

Corbyn added that the lack of support behind May and the likelihood that she will soon be replaced as prime minister had undermined talks.

“The increasing weakness and instability of your government means there cannot be confidence in securing whatever might be agreed between us,” he said.

As skepticism grew over a cross-party deal, the pound has embarked on nine straight sessions of losses versus the euro, marking the longest unbroken run of losses this century. Versus the dollar it dipped to $1.2760 on Friday, marking a four-month low. This after almost reaching $1.34 as recently as March.

It is now expected that the U.K. government will put various options, known as indicative votes, to Parliament instead. The last time lawmakers in the lower house of Parliament — the House of Commons — held such a series of votes on Brexit there was no majority preference for any outcome.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: david reid
Keywords: news, cnbc, companies, parties, collapse, votes, talks, theresa, minister, parliament, uks, falls, main, party, versus, prime, sterling, brexit, labour


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A restaurant mistakenly served up a $5,700 bottle of wine. But turned it into a social media win

Media experts have lauded a restaurant’s very public response to an expensive mistake made by one of its staff members. A diner at the big-budget Hawksmoor restaurant in Manchester, U.K., was accidentally served up an extremely expensive bottle of Chateau le Pin Pomerol 2001. The bottle of wine was worth £4,500 ($5,700) but the customer had ordered one worth a fraction of the price. Jennifer Glass, CEO at consultancy Business Growth Strategies told CNBC Friday that the restaurant may have genera


Media experts have lauded a restaurant’s very public response to an expensive mistake made by one of its staff members. A diner at the big-budget Hawksmoor restaurant in Manchester, U.K., was accidentally served up an extremely expensive bottle of Chateau le Pin Pomerol 2001. The bottle of wine was worth £4,500 ($5,700) but the customer had ordered one worth a fraction of the price. Jennifer Glass, CEO at consultancy Business Growth Strategies told CNBC Friday that the restaurant may have genera
A restaurant mistakenly served up a $5,700 bottle of wine. But turned it into a social media win Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: david reid
Keywords: news, cnbc, companies, turned, restaurant, social, media, mistakenly, 5700, expensive, staff, accidentally, uk, win, worth, twitter, told, served, bottle, wine


A restaurant mistakenly served up a $5,700 bottle of wine. But turned it into a social media win

Media experts have lauded a restaurant’s very public response to an expensive mistake made by one of its staff members.

A diner at the big-budget Hawksmoor restaurant in Manchester, U.K., was accidentally served up an extremely expensive bottle of Chateau le Pin Pomerol 2001. The bottle of wine was worth £4,500 ($5,700) but the customer had ordered one worth a fraction of the price.

The restaurant then tweeted about the incident.

“To the customer who accidentally got given a bottle of Chateau le Pin Pomerol 2001, which is £4,500 on our menu, last night — hope you enjoyed your evening!” the tweet said. “To the member of staff who accidentally gave it away, chin up! One-off mistakes happen and we love you anyway.”

The tweet quickly went viral and has been discussed and reported by media outlets all around the world.

The story was helped in no small measure by U.K. broadcaster Piers Morgan, who has more than 6 million followers on his Twitter account.

Morgan asked if he could reserve a table with the same waiter although it should be noted it was the restaurant manager who made the error.

The restaurant’s upbeat response to the bad news coupled with the crucial retweet has helped turn an apparent financial loss into something of a marketing coup.

Jennifer Glass, CEO at consultancy Business Growth Strategies told CNBC Friday that the restaurant may have generated “millions” in media worth for just £4,500.

“What happened here is another example of creating more visibility for a business,” she said, adding that the misplaced coffee cup in a recent “Game of Thrones” episode may have given Starbucks as much as $2 billion in free advertising.

April Rudin, the founder & CEO at marketing firm The Rudin Group, told CNBC Friday that the restaurant had enjoyed a “one-two punch when the social media stars had aligned,” and the firm had leveraged the power of Twitter in real time.

On Twitter, the manager of a rival hotel also congratulated Hawksmoor’s deft handling of the situation.

While social media consultant Rob Knowles wondered aloud if the original story might have even been made up.

Whatever the origin, it appears the staff member’s job is not at risk. In an interview with The Washington Post, co-owner Will Beckett said that it was the kind of “expensive mistake” that he could see himself doing.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: david reid
Keywords: news, cnbc, companies, turned, restaurant, social, media, mistakenly, 5700, expensive, staff, accidentally, uk, win, worth, twitter, told, served, bottle, wine


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EU presidential candidate Vestager wants global push on digital taxes

The EU’s competition commissioner told CNBC Friday that Europe, and the rest of the world, must push for a solution on digital taxation to create fairness among companies. In March, the French government introduced a digital tax aimed at internet behemoths like Google, Facebook and Amazon. During the same month, Chip Harter, the U.S. Treasury’s top international tax official, said digital levies were “ill conceived” and discriminatory against U.S. businesses. The EU’s Margrethe Vestager has alre


The EU’s competition commissioner told CNBC Friday that Europe, and the rest of the world, must push for a solution on digital taxation to create fairness among companies. In March, the French government introduced a digital tax aimed at internet behemoths like Google, Facebook and Amazon. During the same month, Chip Harter, the U.S. Treasury’s top international tax official, said digital levies were “ill conceived” and discriminatory against U.S. businesses. The EU’s Margrethe Vestager has alre
EU presidential candidate Vestager wants global push on digital taxes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: david reid
Keywords: news, cnbc, companies, wants, tax, commissioner, vestager, eus, digital, taxes, global, official, internet, presidential, create, eu, competition, candidate, european, fairness, push


EU presidential candidate Vestager wants global push on digital taxes

The EU’s competition commissioner told CNBC Friday that Europe, and the rest of the world, must push for a solution on digital taxation to create fairness among companies.

In March, the French government introduced a digital tax aimed at internet behemoths like Google, Facebook and Amazon. This came after the European Union, as a whole, failed to agree on a region-wide system with several nations voicing opposition. During the same month, Chip Harter, the U.S. Treasury’s top international tax official, said digital levies were “ill conceived” and discriminatory against U.S. businesses.

The EU’s Margrethe Vestager has already taken on U.S. internet giants in her role as competition commissioner and she is now standing for Europe’s top job, that of EU Commission president.

Speaking to CNBC’s Karen Tso at the VivaTech conference in Paris, the Danish official said she wanted to see “fairness” in digital taxation.

“There are so many companies that do pay their taxes. They create jobs, they contribute to the economy,” she said, before adding: “It is not fair that they have to see competitors for capital, for skilled employees, get away with paying less than half the same amount of taxes.”

Vestager said while France and some other European states had created their own rules, there should be a wider and more unified approach.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: david reid
Keywords: news, cnbc, companies, wants, tax, commissioner, vestager, eus, digital, taxes, global, official, internet, presidential, create, eu, competition, candidate, european, fairness, push


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UK says it will make its own decision on 5G and Huawei

The U.K. government said it will make its own decision as to whether to include Huawei technology as it builds out its 5G network. The United States has asked allies to reject Huawei’s infrastructure on fears it could open up avenues to Chinese spying, a claim the tech firm has repeatedly rejected. The U.S. has even blacklisted Huawei, among other firms, effectively blocking the company from sourcing components and tech from America. The U.S. Commerce Department said in a statement Wednesday tha


The U.K. government said it will make its own decision as to whether to include Huawei technology as it builds out its 5G network. The United States has asked allies to reject Huawei’s infrastructure on fears it could open up avenues to Chinese spying, a claim the tech firm has repeatedly rejected. The U.S. has even blacklisted Huawei, among other firms, effectively blocking the company from sourcing components and tech from America. The U.S. Commerce Department said in a statement Wednesday tha
UK says it will make its own decision on 5G and Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: david reid
Keywords: news, cnbc, companies, decision, tech, states, undermine, willing, 5g, work, united, huawei, uk, technology, security


UK says it will make its own decision on 5G and Huawei

The U.K. government said it will make its own decision as to whether to include Huawei technology as it builds out its 5G network.

The United States has asked allies to reject Huawei’s infrastructure on fears it could open up avenues to Chinese spying, a claim the tech firm has repeatedly rejected. The U.S. has even blacklisted Huawei, among other firms, effectively blocking the company from sourcing components and tech from America.

The U.S. Commerce Department said in a statement Wednesday that the move aimed to protect U.S. technology from “foreign-owned entities” that could undermine national security. In response, Huawei said that it is willing to work with U.S. officials to ensure product security.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: david reid
Keywords: news, cnbc, companies, decision, tech, states, undermine, willing, 5g, work, united, huawei, uk, technology, security


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Brexit won’t be solved by next deadline, survey of global finance chiefs says

Brexit won’t be solved by the end of October and the European Union (EU) will need to grant yet another deadline, according to a CNBC survey of senior financial executives in boardrooms sited around the world. Within both parties there are deep divides over any joint plan, with a growing chorus calling for a second “confirmatory” referendum on any deal. According to the latest CFO Council quarterly survey, published Tuesday, 35.6% of chief financial officers (CFOs) now see yet another extension


Brexit won’t be solved by the end of October and the European Union (EU) will need to grant yet another deadline, according to a CNBC survey of senior financial executives in boardrooms sited around the world. Within both parties there are deep divides over any joint plan, with a growing chorus calling for a second “confirmatory” referendum on any deal. According to the latest CFO Council quarterly survey, published Tuesday, 35.6% of chief financial officers (CFOs) now see yet another extension
Brexit won’t be solved by next deadline, survey of global finance chiefs says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: david reid
Keywords: news, cnbc, companies, chiefs, cfos, deal, wont, global, brexit, deadline, solved, second, finance, referendum, uk, survey, goods, members, respondents


Brexit won't be solved by next deadline, survey of global finance chiefs says

Brexit won’t be solved by the end of October and the European Union (EU) will need to grant yet another deadline, according to a CNBC survey of senior financial executives in boardrooms sited around the world.

After missing an end of March exit date, Britain and Northern Ireland are now set to leave the EU on October 31, but the withdrawal agreement has not yet been approved by U.K. lawmakers in London.

Representatives from the ruling Conservatives and the main opposition Labour are currently in talks to see if a cross-party deal can break a deadlock which has brought the process to a halt. Within both parties there are deep divides over any joint plan, with a growing chorus calling for a second “confirmatory” referendum on any deal.

The CNBC Global CFO Council represents some of the largest public and private companies in the world, collectively managing nearly $5 trillion in market value.

According to the latest CFO Council quarterly survey, published Tuesday, 35.6% of chief financial officers (CFOs) now see yet another extension to the Brexit deadline as the most probable option. Exactly 20% percent of respondents think Britain will hold another referendum while 26.7% think the country will leave on the October date with a deal in place.

Just 2.2% of those asked believe that Brexit will happen at the end of October with no deal whatsoever. That marks an enormous shift in sentiment from February this year, when 40.7% of chief financial officers thought “no deal” was the most probable option

When broken down into regions, the chances of a second referendum was most pronounced by executives based in Asia with 60% percent of respondents believing that the U.K. would need to go back to the polls in order to finalize the Brexit outcome.

By comparison only 10% of U.S. based CFOs and 6.7% of EMEA executives predicted another referendum would be needed.

The council’s global economic outlook offers a quarterly view for different countries and regions around the globe. This quarter revealed that the U.K. was the only one of 11 areas seen as “declining.” All other areas were rated as “stable,” except for the United States which was upgraded to “improving.”

To other questions asked, 25.9% of respondents said U.S. trade policy was the biggest external risk factor to the success of their businesses. That figure far exceed a cyberattack (7.9%) and Brexit (5.5%) as the next two biggest fears.

The results were collated prior to a fresh tariff threat from President Donald Trump on goods produced and exported by the world’s second biggest economy, China.

Trump said in a tweet Sunday afternoon that the current 10% levies on $200 billion worth of Chinese goods will rise to 25% on Friday. He also threatened to impose 25% tariffs on an additional $325 billion of Chinese goods “shortly.”

Taking into account that the Trump bombshell was as yet unknown to the CFOs, some of the feedback suggested a more bullish outlook for markets in 2019. For stocks, 68.9% expect the Dow Jones Industrial Average will rise above 27,000 this year. That percentage more than doubled from the first quarter survey when just one in three asked were as bullish.

Most CFOs around the world also stated that interest rates are “about right”. That answer was particularly pronounced in the United States where 90% agreed with current levels of borrowing.

More than two-thirds (68.9%) of CFOs surveyed predict no cuts or hike from the U.S. Federal Reserve in 2019 while 22.2% forecast one hike this year.

(Note: 45 of the 124 current members of the CNBC Global CFO Council responded to this quarter’s survey, including 20 North American-based members, 15 EMEA-based members and 10 APAC-based members. The survey was conducted from Apr. 23–30, 2019.)


Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: david reid
Keywords: news, cnbc, companies, chiefs, cfos, deal, wont, global, brexit, deadline, solved, second, finance, referendum, uk, survey, goods, members, respondents


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