Scotland’s Sturgeon calls for fresh independence vote after UK election landslide

First Minister Nicola Sturgeon speaks to the media at the SEC Centre in Glasgow during counting for the 2019 General Election. Scotland’s First Minister Nicola Sturgeon said Prime Minister Boris Johnson has no mandate to take Scotland out of the European Union and demanded a fresh independence vote on its place in the United Kingdom. With all of the Scottish results now counted, the Scottish National Party (SNP) won 48 of the country’s 59 available seats — 13 more than the pro-independence party


First Minister Nicola Sturgeon speaks to the media at the SEC Centre in Glasgow during counting for the 2019 General Election.
Scotland’s First Minister Nicola Sturgeon said Prime Minister Boris Johnson has no mandate to take Scotland out of the European Union and demanded a fresh independence vote on its place in the United Kingdom.
With all of the Scottish results now counted, the Scottish National Party (SNP) won 48 of the country’s 59 available seats — 13 more than the pro-independence party
Scotland’s Sturgeon calls for fresh independence vote after UK election landslide Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: david reid spriha srivastava, david reid, spriha srivastava
Keywords: news, cnbc, companies, party, landslide, scotland, snp, vote, election, united, scottish, mandate, fresh, minister, seats, scotlands, sturgeon, won, calls, independence


Scotland's Sturgeon calls for fresh independence vote after UK election landslide

First Minister Nicola Sturgeon speaks to the media at the SEC Centre in Glasgow during counting for the 2019 General Election.

Scotland’s First Minister Nicola Sturgeon said Prime Minister Boris Johnson has no mandate to take Scotland out of the European Union and demanded a fresh independence vote on its place in the United Kingdom.

With all of the Scottish results now counted, the Scottish National Party (SNP) won 48 of the country’s 59 available seats — 13 more than the pro-independence party won in 2017. The Conservative Party, while winning a large majority across the whole of the United Kingdom, actually lost seven seats in Scotland and now only has six MPs (Member of Parliament) in the country.

The Liberal Democrats took four seats and Labour, until recently a dominant power in Scottish politics, just one.

In the aftermath of the result, Sturgeon conceded that not everybody that voted for SNP would also support independence, but said Scotland was clearly owed the right to choose its future.

Speaking to BBC News, Sturgeon said: “Boris Johnson has a mandate to take England out of the EU but he must accept that I have a mandate to give Scotland a choice for an alternative future.”


Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: david reid spriha srivastava, david reid, spriha srivastava
Keywords: news, cnbc, companies, party, landslide, scotland, snp, vote, election, united, scottish, mandate, fresh, minister, seats, scotlands, sturgeon, won, calls, independence


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Three words that got Boris Johnson the UK election victory he craved

Britain’s Prime Minister Boris Johnson speaks to supporters at the Copper Box Arena on December 11, 2019 in London, United Kingdom. Three simple words that resonated with millions of people and propelled Boris Johnson into 10 Downing Street as a U.K. prime minister with a fresh term and a comfortable majority. Whiteley said by phone that Labour’s Brexit position had offered a “terrible narrative in the context of a weary electorate.” Christopher Furlong | Getty Images News | Getty ImagesCorbyn a


Britain’s Prime Minister Boris Johnson speaks to supporters at the Copper Box Arena on December 11, 2019 in London, United Kingdom.
Three simple words that resonated with millions of people and propelled Boris Johnson into 10 Downing Street as a U.K. prime minister with a fresh term and a comfortable majority.
Whiteley said by phone that Labour’s Brexit position had offered a “terrible narrative in the context of a weary electorate.”
Christopher Furlong | Getty Images News | Getty ImagesCorbyn a
Three words that got Boris Johnson the UK election victory he craved Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: david reid
Keywords: news, cnbc, companies, party, getty, craved, seats, labour, brexit, referendum, boris, labours, words, election, victory, corbyn, johnson


Three words that got Boris Johnson the UK election victory he craved

Britain’s Prime Minister Boris Johnson speaks to supporters at the Copper Box Arena on December 11, 2019 in London, United Kingdom. Leon Neal | Getty Images News | Getty Images

“Get Brexit Done.” Three simple words that resonated with millions of people and propelled Boris Johnson into 10 Downing Street as a U.K. prime minister with a fresh term and a comfortable majority. The brutal simple message was endlessly repeated by the Conservative Party to a frustrated public — tired of the endless arguing over the result of the 2016 EU referendum. The Conservatives have 365 MPs (Members of Parliament) and an 80-seat majority over all the other parties combined when the new U.K. Parliament resumes. Labour, meanwhile, will occupy just 203 seats in the 650-strong Parliament, its worst return since 1935.

A Brexit election

The Conservative Party’s ruthless message was aligned to a strategy that sought votes from the millions of leave voters in the 2016 referendum. That meant reaching beyond the Tory heartland of southern England and looking to smash the Labour strongholds of Wales and England’s midlands and north. If the Tories were clear and simplistic, then Labour’s message got lost in the fog. The opposition party had some initial success by refusing to commit to whether it supported Brexit or not, but ultimately voters tired of the indecision. Corbyn eventually said Labour would negotiate a new deal and hold a second referendum, but then refused to declare who he would campaign for. Voters interpreted that as a weak and confusing stance and on Thursday, Labour’s so-called “red wall” — a stronghold of seats across the country it has typically controlled — crumbled. U.K. politics professor at the University of Essex, Paul Whiteley, told CNBC Friday that while Johnson isn’t popular by historical standards, he was still a lot more admired than Corbyn. Whiteley said by phone that Labour’s Brexit position had offered a “terrible narrative in the context of a weary electorate.”

Cost of Corbyn

The party leader, Jeremy Corbyn, was emblematic of Labour’s apparent muddle. Many viewed him as too left wing — a Marxist who would ruin the U.K. economy with plans to nationalize key industries. Others felt his political history showed improper sympathies with anti-Israeli groups as well as pro-IRA supporters in Ireland. That led to concerns over weakness on national security.

Labour leader Jeremy Corbyn attends the launch of the party’s election manifesto at Birmingham City University on November 21, 2019 in Birmingham, England. Christopher Furlong | Getty Images News | Getty Images

Corbyn attempted to shift the U.K. election campaign away from the constitutional question of Brexit onto domestic matters such as the National Health Service and education. But its manifesto, which included proposals to provide free internet and up spending on health care and education, was decried as too expensive by opponents. Again, Labour and Corbyn had failed to convince. Labour has now not won an election since 2005, and only one of its leaders, Tony Blair, has won an election in more than 40 years. Corbyn has announced he will now step down and the battle for control of Labour’s leadership and party direction will begin again.

A right-wing country?

Prior to the election, a right-of-center think tank claimed that for the Conservatives to win a majority they would need to target “Workington Man.” This fictional stereotype voted for Brexit, was older, white and northern. It was decried as a rude stereotype but ultimately a total of 27 Labour-held seats in constituencies in the north of England fell to the Tories — including the real town of Workington. According to data published by the polling company YouGov in August, 28% of Britons describe themselves as left-wing while 25% consider themselves right-wing. A further 19% place themselves in the center and the remaining 29% don’t know. Whiteley said any idea that the U.K had become more right-wing was simplistic and that the electorate, especially in poorer areas, believed two things. First, that Johnson will deliver on improving the lives of people with better social support and employment prospects, and second, that he will deliver Brexit.

A disunited kingdom

The voting trends in England and Wales do not translate to the two other constituents of the United Kingdom — Scotland and Northern Ireland. In Scotland, the Scottish National Party (SNP) now hold 48 of the 59 available seats north of the border. The SNP campaigned hard against Brexit after the 2016 referendum revealed only a third of Scots wanted to leave the European Union.

Scotland’s First Minister Nicola Sturgeon delivers a speech during a media conference at the Scotland House in Brussels as she is on a one day visit to meet with EU officials, on June 29, 2016. Geoffroy Van Der Hasselt | AFP | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: david reid
Keywords: news, cnbc, companies, party, getty, craved, seats, labour, brexit, referendum, boris, labours, words, election, victory, corbyn, johnson


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Jeff Bezos named businessperson of the decade by global finance chiefs, CNBC survey says

A majority of financial executives in boardrooms around the world say Amazon Founder and Chief Executive Jeff Bezos should be considered as the top businessperson of the decade. Almost a third of chief financial officers (CFOs) quizzed in CNBC’s latest Global CFO Council survey picked out Bezos as their most impressive business leader. Jack Ma, founder of rival online marketplace Alibaba, and Tesla boss Elon Musk came in second and third, respectively. The CNBC Global CFO Council represents some


A majority of financial executives in boardrooms around the world say Amazon Founder and Chief Executive Jeff Bezos should be considered as the top businessperson of the decade.
Almost a third of chief financial officers (CFOs) quizzed in CNBC’s latest Global CFO Council survey picked out Bezos as their most impressive business leader.
Jack Ma, founder of rival online marketplace Alibaba, and Tesla boss Elon Musk came in second and third, respectively.
The CNBC Global CFO Council represents some
Jeff Bezos named businessperson of the decade by global finance chiefs, CNBC survey says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: david reid
Keywords: news, cnbc, companies, cfo, amazon, decade, cfos, members, chiefs, named, jeff, global, finance, council, world, online, bezos, survey, businessperson


Jeff Bezos named businessperson of the decade by global finance chiefs, CNBC survey says

A majority of financial executives in boardrooms around the world say Amazon Founder and Chief Executive Jeff Bezos should be considered as the top businessperson of the decade.

Almost a third of chief financial officers (CFOs) quizzed in CNBC’s latest Global CFO Council survey picked out Bezos as their most impressive business leader.

Jack Ma, founder of rival online marketplace Alibaba, and Tesla boss Elon Musk came in second and third, respectively. Other names picked out by the CFOs included, Satya Nadella, Tim Cook, Warren Buffett and Jamie Dimon.

Bezos first launched Amazon in the mid-1990s as an online bookstore. It is now the world’s largest online marketplace and also rakes in revenue from its activities in cloud computing and artificial intelligence.

In 2015, Amazon surpassed Walmart to become America’s biggest retailer. In 2018, it recorded nearly $233 billion in sales. According to both Forbes and Bloomberg’s Billionaires Index, Bezos is now personally worth $109 billion.

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.

To other questions asked, almost 71% of respondents said they did not think the U.S. economy would experience a recession in 2020. Notably, EMEA executives were less bullish on U.S. economic prospects with almost half believing U.S. output could contract next year.

Nearly a third (30.9%) of CFOs surveyed predicted no cuts or hikes from the U.S. Federal Reserve in 2020. The most common answer was the 36.4% who opted for one cut.

On the matter of stocks, exactly 55% of U.S. CFOs expect the Dow Jones industrial average to rise above 29,000 points rather than the 40% who see it falling back below 24,000 points first. The remainder (5%) were unsure.

The Council’s global economic outlook has dipped slightly on a geographic basis. Now, four of 11 countries or regions — China, euro zone ex. U.K., Latin America ex. Brazil and the United Kingdom — are all seen as “declining.” All other areas were rated as “stable.”

(Note: 55 of the 135 current members of the CNBC Global CFO Council responded to this quarter’s survey, including 20 North American-based members, 21 EMEA-based members and 14 APAC-based members. The survey was conducted from Nov. 20–Dec 3., 2019.)


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: david reid
Keywords: news, cnbc, companies, cfo, amazon, decade, cfos, members, chiefs, named, jeff, global, finance, council, world, online, bezos, survey, businessperson


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Sterling surges as Boris Johnson’s Conservative Party is projected to win UK election

The U.K. general election will be held on Thursday, December 12th, 2019. Ken Jack | Getty Images News | Getty ImagesThe U.K. pound jumped more than 2% after an exit poll projected an 86-seat majority for the Conservative Party in the U.K. general election. The exit poll by Ipsos Mori is commissioned by Sky News, the BBC and ITV and is generally considered more accurate than polls leading up to election day. The Conservative Party is tipped to gain around 50 seats in the election, while Labour wo


The U.K. general election will be held on Thursday, December 12th, 2019.
Ken Jack | Getty Images News | Getty ImagesThe U.K. pound jumped more than 2% after an exit poll projected an 86-seat majority for the Conservative Party in the U.K. general election.
The exit poll by Ipsos Mori is commissioned by Sky News, the BBC and ITV and is generally considered more accurate than polls leading up to election day.
The Conservative Party is tipped to gain around 50 seats in the election, while Labour wo
Sterling surges as Boris Johnson’s Conservative Party is projected to win UK election Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: elliot smith david reid, elliot smith, david reid
Keywords: news, cnbc, companies, conservative, surges, transition, brexit, johnsons, election, projected, sterling, party, boris, seats, poll, win, majority, exit


Sterling surges as Boris Johnson's Conservative Party is projected to win UK election

The U.K. general election will be held on Thursday, December 12th, 2019. Ken Jack | Getty Images News | Getty Images

The U.K. pound jumped more than 2% after an exit poll projected an 86-seat majority for the Conservative Party in the U.K. general election. Shortly after 10 p.m. London time, a survey of thousands of people who had just left the voting booth indicated that the Conservatives were on course to gain around 50 seats, ensuring a healthy majority. In reaction the pound rose to $1.3451, more than 2% higher than before the poll was announced, and touched its highest level against the greenback since June 2018. Sterling also jumped against the euro, up 1.4% to 83.265 pence. The exit poll by Ipsos Mori is commissioned by Sky News, the BBC and ITV and is generally considered more accurate than polls leading up to election day.

The Conservative Party is tipped to gain around 50 seats in the election, while Labour would lose 71 seats from its performance in 2017. In Scotland, the Scottish National Party is forecast to win as many as 55 seats, tightening its grip north of the border. In a snap research note, Paul Dales, chief U.K. economist at Capital Economics, said the result, if accurate, would free the path for Prime Minister Boris Johnson to push through his Brexit plan. “If the Conservatives do win a majority, passing a Brexit divorce deal in the coming weeks would remove any risk of a no-deal Brexit on 31st January, reduce the immediate uncertainty and lift business investment at least a bit,” said Dales. The analyst added that if a big majority over all other parties is realized then Johnson may now have the scope to “ignore the Brexiteers in his party and provide businesses with some certainty by quickly extending the transition period.” The transition period is currently scheduled to begin as soon as the Withdrawal Deal is passed through Parliament and Britain officially leaves the European Union. That is expected to happen at the end of January. As it stands, the U.K. and EU would then only have until December 2020 to negotiate their future relationship. Sterling had shed value during the day and at one point had lost three-quarters of a percent against the U.S. dollar before recovering ground in the hours leading up to the exit poll.

Largely priced in


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: elliot smith david reid, elliot smith, david reid
Keywords: news, cnbc, companies, conservative, surges, transition, brexit, johnsons, election, projected, sterling, party, boris, seats, poll, win, majority, exit


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Sterling surges as Boris Johnson’s Conservative Party is projected to win UK election

The U.K. general election will be held on Thursday, December 12th, 2019. Ken Jack | Getty Images News | Getty ImagesThe U.K. pound jumped more than 2% after an exit poll projected an 86-seat majority for the Conservative Party in the U.K. general election. The exit poll by Ipsos Mori is commissioned by Sky News, the BBC and ITV and is generally considered more accurate than polls leading up to election day. The Conservative Party is tipped to gain around 50 seats in the election, while Labour wo


The U.K. general election will be held on Thursday, December 12th, 2019.
Ken Jack | Getty Images News | Getty ImagesThe U.K. pound jumped more than 2% after an exit poll projected an 86-seat majority for the Conservative Party in the U.K. general election.
The exit poll by Ipsos Mori is commissioned by Sky News, the BBC and ITV and is generally considered more accurate than polls leading up to election day.
The Conservative Party is tipped to gain around 50 seats in the election, while Labour wo
Sterling surges as Boris Johnson’s Conservative Party is projected to win UK election Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: elliot smith david reid, elliot smith, david reid
Keywords: news, cnbc, companies, conservative, surges, transition, brexit, johnsons, election, projected, sterling, party, boris, seats, poll, win, majority, exit


Sterling surges as Boris Johnson's Conservative Party is projected to win UK election

The U.K. general election will be held on Thursday, December 12th, 2019. Ken Jack | Getty Images News | Getty Images

The U.K. pound jumped more than 2% after an exit poll projected an 86-seat majority for the Conservative Party in the U.K. general election. Shortly after 10 p.m. London time, a survey of thousands of people who had just left the voting booth indicated that the Conservatives were on course to gain around 50 seats, ensuring a healthy majority. In reaction the pound rose to $1.3451, more than 2% higher than before the poll was announced, and touched its highest level against the greenback since June 2018. Sterling also jumped against the euro, up 1.4% to 83.265 pence. The exit poll by Ipsos Mori is commissioned by Sky News, the BBC and ITV and is generally considered more accurate than polls leading up to election day.

The Conservative Party is tipped to gain around 50 seats in the election, while Labour would lose 71 seats from its performance in 2017. In Scotland, the Scottish National Party is forecast to win as many as 55 seats, tightening its grip north of the border. In a snap research note, Paul Dales, chief U.K. economist at Capital Economics, said the result, if accurate, would free the path for Prime Minister Boris Johnson to push through his Brexit plan. “If the Conservatives do win a majority, passing a Brexit divorce deal in the coming weeks would remove any risk of a no-deal Brexit on 31st January, reduce the immediate uncertainty and lift business investment at least a bit,” said Dales. The analyst added that if a big majority over all other parties is realized then Johnson may now have the scope to “ignore the Brexiteers in his party and provide businesses with some certainty by quickly extending the transition period.” The transition period is currently scheduled to begin as soon as the Withdrawal Deal is passed through Parliament and Britain officially leaves the European Union. That is expected to happen at the end of January. As it stands, the U.K. and EU would then only have until December 2020 to negotiate their future relationship. Sterling had shed value during the day and at one point had lost three-quarters of a percent against the U.S. dollar before recovering ground in the hours leading up to the exit poll.

Largely priced in


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: elliot smith david reid, elliot smith, david reid
Keywords: news, cnbc, companies, conservative, surges, transition, brexit, johnsons, election, projected, sterling, party, boris, seats, poll, win, majority, exit


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World’s first fully-electric commercial aircraft completes test flight

Harbour Air Pilot and CEO Greg McDougall flies the worlds first all-electric, zero-emission commercial aircraft during a test flight in a de Havilland DHC-2 Beaver from Vancouver International Airports South Terminal on the Fraser River in Richmond, British Columbia, Canada, December 10, 2019. The world’s first fully-electric aircraft for commercial flight has taken to the skies in Canada. Operating routes between hubs like Seattle and Vancouver, Harbour Air carries around 500,000 passengers on


Harbour Air Pilot and CEO Greg McDougall flies the worlds first all-electric, zero-emission commercial aircraft during a test flight in a de Havilland DHC-2 Beaver from Vancouver International Airports South Terminal on the Fraser River in Richmond, British Columbia, Canada, December 10, 2019.
The world’s first fully-electric aircraft for commercial flight has taken to the skies in Canada.
Operating routes between hubs like Seattle and Vancouver, Harbour Air carries around 500,000 passengers on
World’s first fully-electric commercial aircraft completes test flight Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: david reid
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World's first fully-electric commercial aircraft completes test flight

Harbour Air Pilot and CEO Greg McDougall flies the worlds first all-electric, zero-emission commercial aircraft during a test flight in a de Havilland DHC-2 Beaver from Vancouver International Airports South Terminal on the Fraser River in Richmond, British Columbia, Canada, December 10, 2019.

The world’s first fully-electric aircraft for commercial flight has taken to the skies in Canada.

The plane flew above the Fraser River outside Vancouver for about seven minutes before touching down at around 8:30 a.m. local time on Tuesday.

The aircraft — an aging six-passenger DHC-2 de Havilland Beaver seaplane — has been retrofitted with a 750-horsepower electric motor built by U.S. firm magniX.

The engine maker from Redmond, Washington, is working in partnership with Canada’s Harbour Air Seaplanes with the aim of building a fully electrified fleet of 40 seaplanes.

Operating routes between hubs like Seattle and Vancouver, Harbour Air carries around 500,000 passengers on 30,000 commercial flights each year.

“Today, we made history,” said Greg McDougall, CEO and founder of Harbour Air Seaplanes in statement, shortly after piloting the test flight himself.

The engine, the magni500, was unveiled at the Paris Air Show in June this year.

Roei Ganzarski, CEO of magniX, said the electric era of aviation was coming and that the transport industry was “ripe for a massive disruption.”

“Now we are proving that low-cost, environmentally friendly, commercial electric air travel can be a reality in the very near future,” he added.

MagniX and Harbour Air said they will now begin the certification and approval process for both the engine and the retrofitting of aircraft and hope to be operating an all-electric commercial fleet within two years.


Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: david reid
Keywords: news, cnbc, companies, electric, fullyelectric, completes, test, harbour, vancouver, engine, flight, worlds, ceo, commercial, aircraft, air


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US firms dominate arms sales list as 2018 global spend rises to $420 billion

U.S. firms dominate a newly published list of arms and military services spend in 2018, accounting for well over half of global sales. SIPRI said Lockheed Martin’s arms sales exceeded $47 billion, boosted by a ramping up of deliveries of the F-35 fighter jet. Combined, these U.S. firms accounted for more than a third of global military spend in 2018 — at an estimated value of $148 billion. Revenue for all the 43 U.S. firms in the list adds up to $246 billion, around 59% of all arms sales by the


U.S. firms dominate a newly published list of arms and military services spend in 2018, accounting for well over half of global sales.
SIPRI said Lockheed Martin’s arms sales exceeded $47 billion, boosted by a ramping up of deliveries of the F-35 fighter jet.
Combined, these U.S. firms accounted for more than a third of global military spend in 2018 — at an estimated value of $148 billion.
Revenue for all the 43 U.S. firms in the list adds up to $246 billion, around 59% of all arms sales by the
US firms dominate arms sales list as 2018 global spend rises to $420 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: david reid
Keywords: news, cnbc, companies, sales, billion, arms, 420, global, defense, 100, rises, spend, 2018, military, dominate, list, firms


US firms dominate arms sales list as 2018 global spend rises to $420 billion

U.S. firms dominate a newly published list of arms and military services spend in 2018, accounting for well over half of global sales.

The findings, published by the Stockholm International Peace Research Institute (SIPRI) on Monday, also calculated that the combined global sales from the world’s 100 biggest defense firms totaled $420 billion during 2018.

The figure, a 4.6% rise on SIPRI’s 2017 estimate, does not include sales from Chinese firms due to what the institute describes as a lack of reliable data.

For the first time since 2002, U.S. companies occupied all five top spots. Lockheed Martin kept its title as the world’s largest arms seller, accounting for 11% of global sales.

SIPRI said Lockheed Martin’s arms sales exceeded $47 billion, boosted by a ramping up of deliveries of the F-35 fighter jet.

Boeing, Northrop Grumman, Raytheon and General Dynamics rounded out the top five spots. Combined, these U.S. firms accounted for more than a third of global military spend in 2018 — at an estimated value of $148 billion.

Revenue for all the 43 U.S. firms in the list adds up to $246 billion, around 59% of all arms sales by the top 100 firms.

Looking elsewhere, the 10 Russian defense companies on the list managed to almost maintain their 2017 figure — selling $36.2 billion worth of military equipment and services.

Almaz-Antey was the only Russian firm to make the top 10 list with the state-owned company having a particular focus on anti-aircraft defense systems.

Combined arms sales of 27 European firms in the top 100 increased slightly in 2018 to $102 billion. U.K. firms accounted for $35.1 billion in 2018, the highest of the European nations.

U.K.-based BAE Systems came sixth in the top 100 list of sales, making it the largest arms seller outside of the United States in 2018.

Eighty of the 100 top arms producers in 2018 were based in the U.S., Europe and Russia. Of the remaining 20, SIPRI said six were based in Japan, three each for Israel, India and South Korea, two in Turkey and one each for Australia, Canada and Singapore.


Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: david reid
Keywords: news, cnbc, companies, sales, billion, arms, 420, global, defense, 100, rises, spend, 2018, military, dominate, list, firms


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Morgan Stanley is cutting jobs due to uncertain global environment, sources say

Morgan Stanley is cutting roughly 2% of its workforce due to an uncertain global economic outlook, according to people with knowledge of the situation. New York-based Morgan Stanley had 60,532 employees as of September 30. During the post-financial crisis era marked by declining trading revenues, Wall Street firms often cut jobs towards the end of the year to avoid paying out bonuses. Morgan Stanley is the first known instance of this, but other firms will likely announce cuts as planning for 20


Morgan Stanley is cutting roughly 2% of its workforce due to an uncertain global economic outlook, according to people with knowledge of the situation.
New York-based Morgan Stanley had 60,532 employees as of September 30.
During the post-financial crisis era marked by declining trading revenues, Wall Street firms often cut jobs towards the end of the year to avoid paying out bonuses.
Morgan Stanley is the first known instance of this, but other firms will likely announce cuts as planning for 20
Morgan Stanley is cutting jobs due to uncertain global environment, sources say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: david reid hugh son, david reid, hugh son
Keywords: news, cnbc, companies, jobs, trading, say, morgan, cutting, company, shares, environment, revenue, stanley, bank, cuts, sources, uncertain, global, firms, declined


Morgan Stanley is cutting jobs due to uncertain global environment, sources say

Morgan Stanley is cutting roughly 2% of its workforce due to an uncertain global economic outlook, according to people with knowledge of the situation.

The job cuts at the investment bank, the world’s biggest equities trading firm and a leading mergers adviser, will hit technology and operations roles hardest, said the people, who declined to be named. New York-based Morgan Stanley had 60,532 employees as of September 30.

Mark Lake, a company spokesman, declined to comment.

In October, the bank posted third-quarter profit and revenue figures that beat analysts’ expectations. The company produced $10.1 billion in revenue, exceeding analysts’ average estimate by approximately $500 million.

During the post-financial crisis era marked by declining trading revenues, Wall Street firms often cut jobs towards the end of the year to avoid paying out bonuses. Morgan Stanley is the first known instance of this, but other firms will likely announce cuts as planning for 2020 continues.

Morgan Stanley shares have climbed 25% this year amid a broad rebound in bank shares.


Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: david reid hugh son, david reid, hugh son
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Saudi Arabia’s finance minister rejects claims the kingdom is running short on cash

An employee rides a bicycle next to oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. The finance minister of Saudi Arabia rejected claims that the kingdom is slowly running out of money, saying that it’s in a better financial position that many other nations across the globe. Saudi Arabia does not openly publish the amount of assets it holds within its wealth fund, known as the Public Investment Fund (PIF). The Sovereign Wealth Fund Institute puts the figure close


An employee rides a bicycle next to oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019.
The finance minister of Saudi Arabia rejected claims that the kingdom is slowly running out of money, saying that it’s in a better financial position that many other nations across the globe.
Saudi Arabia does not openly publish the amount of assets it holds within its wealth fund, known as the Public Investment Fund (PIF).
The Sovereign Wealth Fund Institute puts the figure close
Saudi Arabia’s finance minister rejects claims the kingdom is running short on cash Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: david reid natasha turak, david reid, natasha turak
Keywords: news, cnbc, companies, arabia, wealth, reserves, short, billion, saudi, rejects, arabias, fund, finance, countrys, minister, kingdom, money, cash, running, claims


Saudi Arabia's finance minister rejects claims the kingdom is running short on cash

An employee rides a bicycle next to oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019.

The finance minister of Saudi Arabia rejected claims that the kingdom is slowly running out of money, saying that it’s in a better financial position that many other nations across the globe.

“No we are not running out of money,” Mohammed al-Jadaan told CNBC’s Hadley Gamble when asked about recent perceptions regarding its reserves.

In November, the former chief of the CIA David Petraeus highlighted the issue, telling CNBC that he believed Saudi Arabia is “gradually running out of money,” aiming his comments at the country’s sovereign wealth fund.

Saudi Arabia does not openly publish the amount of assets it holds within its wealth fund, known as the Public Investment Fund (PIF). The Institute of International Finance estimated in a report in June that the kingdom has assets worth around $300 billion with roughly a quarter of its holdings overseas. The Sovereign Wealth Fund Institute puts the figure closer to $320 billion.

Speaking to CNBC in Riyadh after Monday’s government budget announcement, Al-Jadaan stated that the kingdom currently held the third-largest pot of foreign cash reserves in the world. He added that it had “significant funds” and a “lot of assets” were at the country’s disposal.

“Unlike so many other countries we also have government reserves, deposits, with the central bank that other governments don’t have,” he said.

“That stands today at about 500 billion Saudi riyals, short of 500 billion Saudi riyals,” he added, saying that the country’s aim was to build the reserves as it controlled its expenditure.


Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: david reid natasha turak, david reid, natasha turak
Keywords: news, cnbc, companies, arabia, wealth, reserves, short, billion, saudi, rejects, arabias, fund, finance, countrys, minister, kingdom, money, cash, running, claims


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OPEC supply cut not timed for Aramco listing, Saudi energy minister says

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman told CNBC that an agreement to further trim global oil supply wasn’t intentionally timed to coincide with the initial public offering (IPO) of state-owned energy company Saudi Aramco. On Friday, OPEC and its allies — a wider grouping termed OPEC+ — agreed to cut an extra 500,000 barrels per day (bpd) of their oil production during the first three months of 2020. Abdulaziz said Saudi Aramco’s value couldn’t be evaluated by “a tweak here o


Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman told CNBC that an agreement to further trim global oil supply wasn’t intentionally timed to coincide with the initial public offering (IPO) of state-owned energy company Saudi Aramco.
On Friday, OPEC and its allies — a wider grouping termed OPEC+ — agreed to cut an extra 500,000 barrels per day (bpd) of their oil production during the first three months of 2020.
Abdulaziz said Saudi Aramco’s value couldn’t be evaluated by “a tweak here o
OPEC supply cut not timed for Aramco listing, Saudi energy minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: david reid
Keywords: news, cnbc, companies, aramco, timed, ipo, minister, supply, listing, energy, oil, cut, tweak, prince, told, saudi, opec


OPEC supply cut not timed for Aramco listing, Saudi energy minister says

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman told CNBC that an agreement to further trim global oil supply wasn’t intentionally timed to coincide with the initial public offering (IPO) of state-owned energy company Saudi Aramco.

On Thursday, Aramco priced its IPO at 32 riyals per share ($8.53), putting it on track to raise $25.6 billion in what would be the largest IPO ever conducted.

On Friday, OPEC and its allies — a wider grouping termed OPEC+ — agreed to cut an extra 500,000 barrels per day (bpd) of their oil production during the first three months of 2020.

Following the announcement, Abdulaziz told CNBC’s Hadley Gamble that the two events weren’t linked. “The fact that they coincided, people try to draw a correlation between the two. Some media outlets tried to use that as a way to explain what we are trying to do at this meeting,” he said.

Abdulaziz said Saudi Aramco’s value couldn’t be evaluated by “a tweak here or a tweak there” in the oil supply. He said that the list of institutional investors for Aramco signaled that organizations were keen to back the firm for the long term.

A small portion of Saudi Aramco will start trading on the local stock exchange on Wednesday, December 11. He described the decision to list locally as the “brightest day of his life,” as the benefit of the listing would go, first and foremost, to “our people” and to others who “believe in Saudi Arabia.”

The prince said he believes those who choose not to take part in the listing will soon be “chewing their thumb” with regret.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: david reid
Keywords: news, cnbc, companies, aramco, timed, ipo, minister, supply, listing, energy, oil, cut, tweak, prince, told, saudi, opec


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