Europe will engage rather than confront China in trade, EU ambassador to China says

The European Union will take “a different approach” than the U.S. when it comes to managing the trade relationship with China, the EU ambassador to China told CNBC on Friday. Ambassador Nicolas Chapuis emphasized, however, that the EU is “in the same boat” as the U.S. despite the divergence. Nicolas Chapuis EU ambassador to ChinaEU Trade Commissioner Phil Hogan said on Thursday that the EU will be closely monitoring the newly signed “phase one” trade deal between Washington and Beijing, to ensur


The European Union will take “a different approach” than the U.S. when it comes to managing the trade relationship with China, the EU ambassador to China told CNBC on Friday.
Ambassador Nicolas Chapuis emphasized, however, that the EU is “in the same boat” as the U.S. despite the divergence.
Nicolas Chapuis EU ambassador to ChinaEU Trade Commissioner Phil Hogan said on Thursday that the EU will be closely monitoring the newly signed “phase one” trade deal between Washington and Beijing, to ensur
Europe will engage rather than confront China in trade, EU ambassador to China says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: grace shao
Keywords: news, cnbc, companies, told, deals, chapuis, europe, china, engage, confront, ambassador, deal, uschina, wto, trade


Europe will engage rather than confront China in trade, EU ambassador to China says

The European Union will take “a different approach” than the U.S. when it comes to managing the trade relationship with China, the EU ambassador to China told CNBC on Friday. Ambassador Nicolas Chapuis emphasized, however, that the EU is “in the same boat” as the U.S. despite the divergence. “We think that policy of engagement, clarity, the possibility to strike smart deals, to take stock of China’s innovation policies and formidable economy of this country is of interest to us and engagement rather confrontation is the right path,” Chapuis told CNBC’s “Street Signs.” The ambassador said that the EU is working to deliver “a smart and sensible agreement” and that his staff will “take stock of the potential of economic, trade, political relationship between the EU and China.”

The fact that trade tensions may be reduced, thanks to the U.S.-China deal is good news. On the other hand, managed trade, quantitative targets, bilateral deals, this is not what a global world needs. Nicolas Chapuis EU ambassador to China

EU Trade Commissioner Phil Hogan said on Thursday that the EU will be closely monitoring the newly signed “phase one” trade deal between Washington and Beijing, to ensure it complies with WTO rules. “As my commissioner said… we do not like bilateral arrangements in globalization. Of course, the U.S. is entitled to any deal it wishes with China. But if it is not WTO compatible, then we have an issue,” the ambassador said. The EU will monitor progress on the U.S.-China deal “extremely closely to see if our concerns on managed trade, on quantitative targets are valid or not,” said Chapuis. He said that he received a call from Chinese officials after the deal was signed that assured the EU “will not be impacted by the U.S.-China trade deal.”

US-China trade deal’s global impact


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: grace shao
Keywords: news, cnbc, companies, told, deals, chapuis, europe, china, engage, confront, ambassador, deal, uschina, wto, trade


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Eli Lilly targets quarterly deals of $1 billion to $5 billion in 2020, CFO says

Eli Lilly aims to announce roughly one $1 billion to $5 billion deal every quarter in 2020, its chief financial officer told Reuters, as the U.S. drugmaker looks to build up its pipeline of future products. A box of the drug trulicity, made by Eli Lilly Pharmaceutical, sits on a counter at a pharmacy in Provo, Utah, January 9, 2020. “We are looking at Dermira-like opportunities targeting assets in the $1 billion to $5 billion range,” Smiley said. In 2018 and 2019, it announced several deals for


Eli Lilly aims to announce roughly one $1 billion to $5 billion deal every quarter in 2020, its chief financial officer told Reuters, as the U.S. drugmaker looks to build up its pipeline of future products.
A box of the drug trulicity, made by Eli Lilly Pharmaceutical, sits on a counter at a pharmacy in Provo, Utah, January 9, 2020.
“We are looking at Dermira-like opportunities targeting assets in the $1 billion to $5 billion range,” Smiley said.
In 2018 and 2019, it announced several deals for
Eli Lilly targets quarterly deals of $1 billion to $5 billion in 2020, CFO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17
Keywords: news, cnbc, companies, eli, trulicity, smiley, targets, quarterly, lilly, 2020, including, products, earlier, deals, billion, cfo, medicines, treatment, week


Eli Lilly targets quarterly deals of $1 billion to $5 billion in 2020, CFO says

It will focus largely on earlier stage opportunities across key therapeutic areas including oncology, pain, immunology, and neurology, CFO John Smiley told Reuters in an interview at the JP Morgan Healthcare conference in San Francisco earlier this week.

Eli Lilly aims to announce roughly one $1 billion to $5 billion deal every quarter in 2020, its chief financial officer told Reuters, as the U.S. drugmaker looks to build up its pipeline of future products.

A box of the drug trulicity, made by Eli Lilly Pharmaceutical, sits on a counter at a pharmacy in Provo, Utah, January 9, 2020.

Eli Lilly has been on a deal-making spree in recent years in a bid to increase products and sales in core franchises as older blockbuster medicines, such as diabetes treatment Humalog, face generic competition and pressure to lower prices.

Last week, it announced a $1.1 billion deal to buy dermatology products maker Dermira Inc (DERM.O). With the purchase, Lilly will acquire Dermira’s experimental treatment for atopic dermatitis, a serious form of eczema, which is in late-stage testing, as well as an approved medicated cloth to treat excessive armpit sweating.

“We are looking at Dermira-like opportunities targeting assets in the $1 billion to $5 billion range,” Smiley said. “We’d like to be doing something in the range of one per quarter or so.”

In 2018 and 2019, it announced several deals for cancer companies, including an $8 billion acquisition of Loxo Oncology. U.S. regulators in 2018 approved Vitrakvi, Loxo’s first commercial medicine, which treats a wide variety of cancers triggered by a rare genetic mutation.

In a presentation to investors this week, Lilly Chief Executive David Ricks said most of its deals will be in the cancer space, but that other therapeutic areas remain of strong interest as well.

While the company is still looking at late-stage assets, Smiley said the most opportunity for shareholders is in drugs in earlier stages of development.

Deals could include licensing agreements, outright acquisitions, or other structures, he added.

In its most recent earnings call, Lilly forecast a higher-than-expected profit for 2020, citing growing demand for its newer medicines including diabetes drug Trulicity and Taltz for psoriasis and other related autoimmune diseases.

However, sales of Trulicity and other newer medicines have been crimped by high rebates and discounts drugmakers pay to middlemen, such as pharmacy benefit managers, in order to make sure patients have access to their products.


Company: cnbc, Activity: cnbc, Date: 2020-01-17
Keywords: news, cnbc, companies, eli, trulicity, smiley, targets, quarterly, lilly, 2020, including, products, earlier, deals, billion, cfo, medicines, treatment, week


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MLB arbitration deadline roundup: Betts, Bryant, Lindor and more reportedly lock in new deals

There isn’t much variation among player salaries in the first several years. MLB players are no longer eligible for arbitration once they hit six years in the Major Leagues and become free agents. Betts and the Boston Red Sox reportedly agreed to a one-year, $27 million deal ahead of the deadline, according to a tweet from ESPN’s Jeff Passan. There were reports that Indians shortstop Lindor also reached a $17.5 million deal, according to MLB.com. If a settlement has not been reached by the deadl


There isn’t much variation among player salaries in the first several years.
MLB players are no longer eligible for arbitration once they hit six years in the Major Leagues and become free agents.
Betts and the Boston Red Sox reportedly agreed to a one-year, $27 million deal ahead of the deadline, according to a tweet from ESPN’s Jeff Passan.
There were reports that Indians shortstop Lindor also reached a $17.5 million deal, according to MLB.com.
If a settlement has not been reached by the deadl
MLB arbitration deadline roundup: Betts, Bryant, Lindor and more reportedly lock in new deals Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: elly cosgrove jabari young, elly cosgrove, jabari young
Keywords: news, cnbc, companies, salaries, players, player, lindor, reached, deal, mlb, deadline, arbitration, million, betts, reportedly, according, salary, deals, roundup, bryant, lock


MLB arbitration deadline roundup: Betts, Bryant, Lindor and more reportedly lock in new deals

Mookie Betts #50 of the Boston Red Sox pops out in the third inning during a MLB game against the Toronto Blue Jays at Rogers Centre on September 12, 2019 in Toronto, Canada.

Leading up to the Friday Major Leauge Baseball arbitration deadline, 155 eligible players and their current clubs negotiated salaries for the upcoming season. Since the deadline at noon, a number of deals were reported as teams and players avoided arbitration.

Some of the big names that reached deals Friday are Red Sox outfielder Mookie Betts, Cincinnati Reds pitcher Trevor Bauer, Chicago Cubs third baseman Kris Bryant and Cleveland Indians shortstop Francisco Lindor.

Players are typically salary arbitration-eligible once they have completed three years of MLB service. There isn’t much variation among player salaries in the first several years. Rookies who get called up are paid at the Major League minimum salary rate, which is between $500,000 and $600,000.

MLB players are no longer eligible for arbitration once they hit six years in the Major Leagues and become free agents. There are some exceptions to the arbitration-eligibility timeline.

Leading up to the January deadline, clubs and players negotiate salaries, “primarily based on comparable players who have signed contracts in recent seasons,” according to the MLB. Salaries can decrease, but a salary cannot be cut by more than 20%.

If both parties do not come to an agreement by the Friday deadline, then the club and player must exchange desired salary figures and a hearing is set for February. If a settlement is not reached by the February hearing, the case goes to a panel of arbitrators, who select one of the proposed salaries, according to the league.

Betts and the Boston Red Sox reportedly agreed to a one-year, $27 million deal ahead of the deadline, according to a tweet from ESPN’s Jeff Passan.

This is slightly below the projected arbitration salary of $27.7 million speculated in MLB rumors.

If accurate, the deal would be a new record for an arbitration-eligible player, according to NBC Sports Boston. Until Betts’ deal is official, the record as of right now belongs to Nolan Arenado’s $26 million contract with the Colorado Rockies in 2019.

Betts will be considered a free agent following the 2020 season.

The Reds’ Bauer agreed to a $17.5 million contract, according to multiple reports including MLB.com executive reporter Mark Feinsand.

Bauer had an arbitration hearing each of the past two years, Feinsand said. His new salary is the second-highest ever for an arbitration-eligible pitcher.

There were reports that Indians shortstop Lindor also reached a $17.5 million deal, according to MLB.com. The club has yet to confirm it. The deal would mark the second-highest contract for a second-time arbitration-eligible player, MLB.com reported.

Third baseman Bryant reached a $18.6 million agreement with the Cubs, according to Passan. MLB Trade Rumors was looking for a number at around $18.5 million.

Noah Syndergaard and the New York Mets settled on a $9.7 million contract for 2020, according to MLB.com writer Anthony DiComo. MLB Trade Rumors was expecting $9.9 million.

The New York Yankees have nine arbitration-eligible players, including pitcher James Paxton, right fielder Aaron Judge and catcher Gary Sanchez. MLB Trade Rumors is anticipating Paxton will get $12.9 million, Judge will get $6.4 million and Sanchez will land $5.6 million. If a settlement has not been reached by the deadline, then each player and the Yankees will face arbitration hearings.


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: elly cosgrove jabari young, elly cosgrove, jabari young
Keywords: news, cnbc, companies, salaries, players, player, lindor, reached, deal, mlb, deadline, arbitration, million, betts, reportedly, according, salary, deals, roundup, bryant, lock


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5 of the best deals after Christmas that aren’t holiday decorations

Holiday decor is an obvious after-Christmas bargain, with stores like Home Depot offering significant discounts on artificial trees and lights. But there are other great year-end sales to look out for, too. Many of them actually start in the days before Christmas, says Julie Ramhold, consumer analyst with DealNews.com. Box set giftsBox set gifts are prepackaged items stores sell as ready-to-gift presents, like a makeup kit or a collection of skin care items. “These items usually get discounted f


Holiday decor is an obvious after-Christmas bargain, with stores like Home Depot offering significant discounts on artificial trees and lights.
But there are other great year-end sales to look out for, too.
Many of them actually start in the days before Christmas, says Julie Ramhold, consumer analyst with DealNews.com.
Box set giftsBox set gifts are prepackaged items stores sell as ready-to-gift presents, like a makeup kit or a collection of skin care items.
“These items usually get discounted f
5 of the best deals after Christmas that aren’t holiday decorations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-24  Authors: aditi shrikant
Keywords: news, cnbc, companies, great, stores, theyre, kohls, deals, items, best, arent, decorations, mcgrath, target, christmas, set, sales, holiday, holidays


5 of the best deals after Christmas that aren't holiday decorations

Holiday decor is an obvious after-Christmas bargain, with stores like Home Depot offering significant discounts on artificial trees and lights. But there are other great year-end sales to look out for, too. Many of them actually start in the days before Christmas, says Julie Ramhold, consumer analyst with DealNews.com. “As soon as they go live, they’re worth checking out,” Ramhold says. “While discounts will get better over time, the selection will also diminish.” Here are five items on which experts predict you can get a great deal between now and New Year’s Eve:

Electronics

Two days after Christmas, according to data from Adobe, is a great time to buy small electronics and smart home devices. On December 27, its analysts expect that smart speakers like the Echo Dot and headphones will be at a peak discount of up to 27% off. Last year at Target, Beats Solo wireless headphones were discounted from $299.99 to $199.99.

Department store clearance sales

“Department stores, big-box stores, and home goods stores tend to throw these [sales] to capitalize on the foot traffic as people return gifts,” says Kristin McGrath, shopping expert from Offers.com. “In past years, we’ve seen Macy’s, Kohl’s, Home Depot, and others participate.” In 2018, one-third of after-Christmas sales were on clothing and accessories, according to DealNews.com. For example, last year Kohl’s was offering up to 70% off its clearance items from December 26 to 31, while Macy’s offered 20% off clearance items.

Box set gifts

Box set gifts are prepackaged items stores sell as ready-to-gift presents, like a makeup kit or a collection of skin care items. For example, right now at Kohl’s you can find celebrity fragrance sets for 25% off and at Target all “cosmetic, beauty and personal care” gift sets are 25% off. “These items are less popular after the holidays, and they’re often contained in sparkly holiday packaging that limits their shelf life to New Year’s Eve at the latest,” McGrath says. “Use them for your own self-care, or rewrap and regift them.”

These items are less popular after the holidays, and they’re often contained in sparkly holiday packaging that limits their shelf life to New Year’s Eve at the latest. Kristin McGrath Shopping expert at Offers.com

Toys and games

Retailers will be clearing out all unsold toys, which means it is a great time to shop for upcoming birthdays or other gift-giving holidays. At Target, a set of 14 L.O.L. Surprise! dolls are discounted from $129.99 to $99. And at Kmart, toys like drawing easels and bicycles will be up to 70% off. But don’t expect to find deals on gaming consoles or video games. “These items usually get discounted for the gift-giving season and then return to their regular prices outside the holidays,” McGrath says.

Candles


Company: cnbc, Activity: cnbc, Date: 2019-12-24  Authors: aditi shrikant
Keywords: news, cnbc, companies, great, stores, theyre, kohls, deals, items, best, arent, decorations, mcgrath, target, christmas, set, sales, holiday, holidays


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This ‘deal’ could cost you 27.5 times more interest. Here’s what to avoid when shopping this season

As shoppers scramble to take advantage of seasonal deals, there’s one offer you probably don’t want to jump on. However, beware the fine print that can cost you more than you bargained for, according to recent research from personal finance website WalletHub. That’s because after the initial offer, those low introductory deals can become much more expensive — including retroactive interest on your initial balance. “That extends the timeline you had thought that you would be paid off by that much


As shoppers scramble to take advantage of seasonal deals, there’s one offer you probably don’t want to jump on.
However, beware the fine print that can cost you more than you bargained for, according to recent research from personal finance website WalletHub.
That’s because after the initial offer, those low introductory deals can become much more expensive — including retroactive interest on your initial balance.
“That extends the timeline you had thought that you would be paid off by that much
This ‘deal’ could cost you 27.5 times more interest. Here’s what to avoid when shopping this season Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-24  Authors: lorie konish
Keywords: news, cnbc, companies, credit, website, heres, introductory, initial, avoid, deals, personal, interest, deal, 275, finance, cost, times, season, shopping, shoppers, offer


This 'deal' could cost you 27.5 times more interest. Here's what to avoid when shopping this season

As shoppers scramble to take advantage of seasonal deals, there’s one offer you probably don’t want to jump on.

Store credit card deals may sound like a steal. However, beware the fine print that can cost you more than you bargained for, according to recent research from personal finance website WalletHub.

Watch for terms like “0% interest” or “special financing.” That’s because after the initial offer, those low introductory deals can become much more expensive — including retroactive interest on your initial balance.

For example, if you buy an $800 TV and have a $20 balance when a six-month introductory offer runs out, you will be charged interest on the entire $800 purchase.

“That extends the timeline you had thought that you would be paid off by that much longer,” said Jill Gonzalez, senior analyst at personal finance website WalletHub.

WalletHub found that shoppers can spend as much as 27.5 times more on interest with deferred-interest deals compared with a 0% credit card.


Company: cnbc, Activity: cnbc, Date: 2019-12-24  Authors: lorie konish
Keywords: news, cnbc, companies, credit, website, heres, introductory, initial, avoid, deals, personal, interest, deal, 275, finance, cost, times, season, shopping, shoppers, offer


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4 ways you can get last-minute deals and save money on the holidays

Here are four tips for scoring last-minute deals on holiday decorations or party supplies. To save time and streamline your shopping, use a site that collects coupons and discount codes all in one place. For example, if you’re looking for a holiday light display, you can use a site like Offers.com, Clark Deals, and Slick Deals (which Bodge is affiliated with) to track prices on that specific product. Though you’ll have less time to enjoy your tree, getting one last-minute can help offset the ove


Here are four tips for scoring last-minute deals on holiday decorations or party supplies.
To save time and streamline your shopping, use a site that collects coupons and discount codes all in one place.
For example, if you’re looking for a holiday light display, you can use a site like Offers.com, Clark Deals, and Slick Deals (which Bodge is affiliated with) to track prices on that specific product.
Though you’ll have less time to enjoy your tree, getting one last-minute can help offset the ove
4 ways you can get last-minute deals and save money on the holidays Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-21  Authors: mariam abdallah, emily glover, jen glantz
Keywords: news, cnbc, companies, holidays, holiday, deals, christmas, youll, shopping, bodge, buy, lastminute, ways, youre, tree, save, looking, money


4 ways you can get last-minute deals and save money on the holidays

Even celebrities love getting a bargain. This holiday season, reality TV star and entrepreneur Kylie Jenner took to her YouTube channel to share her Christmas décor. While fans might expect Jenner to have nothing but luxe items, she revealed that she purchased most of her decorations from an ordinary big-box store: “I got most of my stuff from Target.” If you’re looking to save on holiday décor, the last minute may actually be the the best time to buy: “You can get lots of great deals right now simply because the retailers are trying to clear [holiday] merchandise out,” says Trae Bodge, smart shopping expert at True Trae. Here are four tips for scoring last-minute deals on holiday decorations or party supplies.

1. Use a deal-tracking site

During the week leading up to Christmas, retailers are trying to get rid of holiday items in time for the new year. That means you’ll find plenty of sales. To save time and streamline your shopping, use a site that collects coupons and discount codes all in one place. “So you’re not sitting looking through all the circulars that are in your mailbox and looking around online, use a coupon site that displays the strongest deals available,” says Bodge. For example, if you’re looking for a holiday light display, you can use a site like Offers.com, Clark Deals, and Slick Deals (which Bodge is affiliated with) to track prices on that specific product. “You can name that item in the deal alert and then you’ll be notified when that item goes on sale,” says Bodge. “That’s a good way to kind of get out in front of it without digging around looking for things.”

2. Buy your tree as close to Christmas as possible

Though it can be risky to wait until the last minute, prices on Christmas trees steadily fall the closer it gets to the holiday, Sara Vera, a data analyst at Square, a payment processing company, told Grow earlier this year. Though you’ll have less time to enjoy your tree, getting one last-minute can help offset the overall rise in price for Christmas trees. You can use Square’s calculator to estimate the best day to buy your tree, based on where you live, how much money you want to spend, and how long you’d like your tree to last. Even a week out from Christmas, it’s not too late.

Video by Sofia Pitt

3. Buy appetizers and stocking stuffers in bulk

If you need to get small tokens or hostess gifts, or if you’re gearing up for a holiday party, take advantage of your warehouse club membership, if you have one. While warehouse stores offer year-round deals, they tend to have special bargains around the holidays, and you’ll save time by getting most, if not all, of your holiday shopping done in one place. “I can grab everything I need for my holiday meals, groceries for visitors, and large boxes of chocolates that I can use for stocking stuffers and hostess gifts,” says Andrea Woroch, a budgeting expert. Costco’s bakery and frozen sections, for example, can help you snag significant savings. “For flavorful, affordable, and easy-to-serve options, “try potato-filled samosas, mini-spanakopitas, and spinach and egg tartlets,” Kristin McGrath, a shopping expert at Offers.com told Grow earlier this year. If you’re purchasing for a party and serving guests, you can get frozen foods. A 35-ounce pack of Sukhi’s Mini Samosas is priced at just $17.79, or 51 cents per ounce.

4. Pay attention to extra costs and deadlines


Company: cnbc, Activity: cnbc, Date: 2019-12-21  Authors: mariam abdallah, emily glover, jen glantz
Keywords: news, cnbc, companies, holidays, holiday, deals, christmas, youll, shopping, bodge, buy, lastminute, ways, youre, tree, save, looking, money


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A survey of tech execs signals Warren Buffett is right about market being pricey

Getty ImagesThe merger market for technology firms slowed down in 2019 as buyers, heeding Warren Buffett’s warnings about high stock prices raising risks, backed off from many deals. Berkshire Hathaway chairman and CEO Warren Buffett is sitting on roughly $130 billion in cash specifically because he said the current stock market and bidding on acquisition targets has made deals too expensive. The biggest was the $35 billion deal between FIS and Worldpay, followed by the $27 billion deal by the L


Getty ImagesThe merger market for technology firms slowed down in 2019 as buyers, heeding Warren Buffett’s warnings about high stock prices raising risks, backed off from many deals.
Berkshire Hathaway chairman and CEO Warren Buffett is sitting on roughly $130 billion in cash specifically because he said the current stock market and bidding on acquisition targets has made deals too expensive.
The biggest was the $35 billion deal between FIS and Worldpay, followed by the $27 billion deal by the L
A survey of tech execs signals Warren Buffett is right about market being pricey Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-19  Authors: tim mullaney, riley de leon
Keywords: news, cnbc, companies, right, survey, pricey, execs, technology, union, data, billion, market, buffett, stock, high, merger, signals, deals, warren, deal, tech


A survey of tech execs signals Warren Buffett is right about market being pricey

Warren Buffett speaks at the “Detroit Homecoming” event, Sept. 18, 2014. Getty Images

The merger market for technology firms slowed down in 2019 as buyers, heeding Warren Buffett’s warnings about high stock prices raising risks, backed off from many deals. Berkshire Hathaway chairman and CEO Warren Buffett is sitting on roughly $130 billion in cash specifically because he said the current stock market and bidding on acquisition targets has made deals too expensive. Data from Union Square Advisors match up with the findings of CNBC’s Q4 Technology Executive Survey of 51 high-ranking technology executives, in which 46% of respondents said their own organizations had passed on a merger within the past year because the price was too high. Another 19% said that had happened at least once in the past five years. The CNBC Technology Executive Council survey released Tuesday was conducted from Dec. 2–11, 2019. It included a limited sampling of 51 of the 157 members of the council, who serve in senior technology positions at large companies, as well as at government and nonprofit organizations.

A better outlook for 2020

However, the same pessimism doesn’t appear to be driving the outlook for 2020. Only 10% of CNBC’s panel said their organizations would slow the pace of their merger-and-acquisition work, while 44% said it would be about the same and 26% said they expected their own companies to make more technology-driven acquisitions next year. “By almost any measure, the market is expensive, at least within tech,” said Ted Smith, co-founder and partner at Union Square, a boutique merger advisor based in San Francisco and New York. “It’s not surprising that people said things are down a bit. It’s going to restrict deal flow.” Through November, global technology merger volume was down 26% this year, from 2018 to $372 billion, according to Union Square’s data, with the biggest declines coming in the largest deals. In particular, the slowdown may have been related to the very high stock multiples attached to companies working in cloud-based computing, and applications software meant to be used in cloud-based systems, said Smith and Wayne Kawarabayashi, another Union Square partner. “No one wants to be the [buyer] that jumps the shark,” Kawarabayashi said. “But on the flip side, there is so much capital out there.”

The largest deals that did get done were in financial technology, where existing titans snapped up rivals in an effort to build scale. The biggest was the $35 billion deal between FIS and Worldpay, followed by the $27 billion deal by the London Stock Exchange to buy financial data analytics provider Refinitiv in July. Global Payments, which processes payments for 3.5 million mostly small businesses, bought rival TSYS for $21 billion, and Fiserv and First Data merged in a $22 billion deal. The four payments transactions accounted for almost 30% of global tech deal volume. Low interest rates are offsetting the high deal prices for many buyers and making private equity firms more competitive with strategic buyers, Smith and Kawarabayashi said. The cheap money is letting private equity, which doesn’t have to worry about diluting the price of an already public stock that has a lower price-to-earnings multiple than merger targets often command, offset the disadvantage of not being able to cut staff and functions at the target company that duplicate what the acquirer already has, they added.

Hot sector targets


Company: cnbc, Activity: cnbc, Date: 2019-12-19  Authors: tim mullaney, riley de leon
Keywords: news, cnbc, companies, right, survey, pricey, execs, technology, union, data, billion, market, buffett, stock, high, merger, signals, deals, warren, deal, tech


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Tech M&A boomed the past five years — but executives need to update their playbook, Bain says

But they may need to toss out their old M&A playbooks as the landscape changes, according to a new report from Bain Wednesday. Heading into 2020, executives are faced with higher valuations, competition from corporate giants names like Intel and Salesforce, and the potential of a recession, according to Bain. “Trends are shifting and they’re shifting quickly,” Adam Haller, partner with Bain & Company’s global M&A technology practice says. In 2015, half of total tech deals were to increase outrig


But they may need to toss out their old M&A playbooks as the landscape changes, according to a new report from Bain Wednesday.
Heading into 2020, executives are faced with higher valuations, competition from corporate giants names like Intel and Salesforce, and the potential of a recession, according to Bain.
“Trends are shifting and they’re shifting quickly,” Adam Haller, partner with Bain & Company’s global M&A technology practice says.
In 2015, half of total tech deals were to increase outrig
Tech M&A boomed the past five years — but executives need to update their playbook, Bain says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-18  Authors: kate rooney
Keywords: news, cnbc, companies, total, different, update, theyre, playbook, deals, tech, boomed, companies, according, haller, past, bain, executives, need, recession


Tech M&A boomed the past five years — but executives need to update their playbook, Bain says

Jaap Arriens | NurPhoto | Getty Images

Tech dealmakers have been on a hot streak. But they may need to toss out their old M&A playbooks as the landscape changes, according to a new report from Bain Wednesday. Heading into 2020, executives are faced with higher valuations, competition from corporate giants names like Intel and Salesforce, and the potential of a recession, according to Bain. Those factors highlight a need for different types of diligence and ways to bring in start-ups that increasingly have different business models than their new parent companies. “Trends are shifting and they’re shifting quickly,” Adam Haller, partner with Bain & Company’s global M&A technology practice says. “For executives, strategies that made them successful in the past aren’t going to work in the future.” Tech M&A deal volume has grown 31% annually for the past five years, according to the report. Total deal volume has swelled to more than three times what it was five years ago. And for companies doing larger and more frequent deals, it’s paying off: they delivered returns roughly 3-10 percentage points higher than their less acquisitive counterparts, according to Bain.

From ‘scale’ to ‘scope’

The “old strategy” involved buying companies buying competitors to increase their own size in the market. In 2015, half of total tech deals were to increase outright scale. By the end of this year, that total fell to 10%. Ninety percent of companies shifted to “scope” deals in 2019, meaning they are going into entirely new businesses. Tech in particular has really been “widening the aperture,” Haller said. “They’re acquiring different types of companies than their own with different cultures, different ways of working and new customer segments — these are much riskier deals,” he said. Part of the rationale for expanding business lines is to gear up for new technologies such as 5G and cloud computing. The emerging technologies are creating demand for new products, better security and more automation, according to Bain. Haller pointed to deals like Intel’s $15.3 billion acquisition of Mobileye and Microsoft’s $26.2 billion purchase of LinkedIn that helped secure access to proprietary data. Competition from corporate giants is pushing up valuations, making it harder for standalone buyers to find reasonable deals in the first place. Companies like Sprint, which has partnered with SoftBank, or Broadcom which partnered with private equity firm Silver Lake Partners, can bring in a company as a strategic deal. That allows the buyer to factor in things like technology or expertise, or a massive customer base that the smaller company might benefit from. The average private equity buyer might have a hard time justifying the same price tag. “It puts huge pressure on premiums and prices because you’ve now got a new class of very aggressive competitors there that are in the hunt for for the same assets,” he said. “They’re getting access to synergies that allow them to pay more. So it’s leading to these higher premiums.”

Recession watch

The risk of an economic downturn varies based on who you ask. More than half of the super-rich around the world are already hunkering down for a recession, according to a recent UBS survey. But so-called “Bond King” Jeffrey Gundlach says recession is unlikely as some economic indicators improve. While an economic crisis amplifies the need for diligence to avoid taking excess risk, Haller said it could also be an opportunity for those with cash to spend.


Company: cnbc, Activity: cnbc, Date: 2019-12-18  Authors: kate rooney
Keywords: news, cnbc, companies, total, different, update, theyre, playbook, deals, tech, boomed, companies, according, haller, past, bain, executives, need, recession


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Jim Cramer: China often reneges on deals, but ‘this one feels different’

CNBC’s Jim Cramer on Monday said the verbal agreement United States trade negotiators struck with China breathed new hope into Wall Street. “The trade deal mattered. I know the Chinese government has a history of reneging on all sorts of agreements, but somehow this one feels different,” the “Mad Money” host said. The two countries last week announced that they had reached a “phase one” trade deal in principle, about 18 months after the start of the trade war. “Unlike grains or soy, the United S


CNBC’s Jim Cramer on Monday said the verbal agreement United States trade negotiators struck with China breathed new hope into Wall Street.
“The trade deal mattered.
I know the Chinese government has a history of reneging on all sorts of agreements, but somehow this one feels different,” the “Mad Money” host said.
The two countries last week announced that they had reached a “phase one” trade deal in principle, about 18 months after the start of the trade war.
“Unlike grains or soy, the United S
Jim Cramer: China often reneges on deals, but ‘this one feels different’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-16  Authors: tyler clifford
Keywords: news, cnbc, companies, chinese, reneges, feels, different, states, cramer, deals, united, country, jim, china, trade, deal, pork


Jim Cramer: China often reneges on deals, but 'this one feels different'

CNBC’s Jim Cramer on Monday said the verbal agreement United States trade negotiators struck with China breathed new hope into Wall Street.

“The trade deal mattered. I know the Chinese government has a history of reneging on all sorts of agreements, but somehow this one feels different,” the “Mad Money” host said.

Cramer likes the carrot-and-stick approach that the Trump administration is taking in the negotiations. The two countries last week announced that they had reached a “phase one” trade deal in principle, about 18 months after the start of the trade war. The U.S. agreed to roll back some tariffs, and China promised to make more agricultural purchases.

Cramer pointed out two factors that make the progress in trade talks feel different from deals that were often teased earlier this year: pork and the threat of higher tariffs.

As the country grapples with African Swine Fever, which has caused pork prices to skyrocket 110%, China last month dropped a ban it had in place on American hog imports. Cramer said, “For once we actually have something that the People’s Republic needs.”

Shares of Tyson Foods rallied more than 2% Monday after the U.S. greenlighted the food producer’s wish to export products to China.

“Pork is a staple of the Chinese diet, and the country is ill-prepared for this scourge,” he said. “Unlike grains or soy, the United States is the only country with enough pork production to actually meet China’s needs. We’ve got the upper hand, people.”

“Long story short: They have every reason to follow through this time with their proposed agriculture purchases. Not buying our pork would hurt them a lot more than it hurts us,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-12-16  Authors: tyler clifford
Keywords: news, cnbc, companies, chinese, reneges, feels, different, states, cramer, deals, united, country, jim, china, trade, deal, pork


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‘Historic’ phase one deal with China will be very good for global growth, Treasury Secretary Steven Mnuchin says

Treasury Secretary Steven Mnuchin speaks to the news media after giving a television interview at the White House in Washington, December 3, 2018. The “historic” phase one trade agreement reached Friday between the U.S. and China will boost global growth, according to U.S. Treasury Secretary Steven Mnuchin. Speaking to CNBC’s Hadley Gamble at the Doha Forum on Saturday, Mnuchin said the partial deal would address a host of issues central to Washington’s trade agenda. Mnuchin also dismissed the n


Treasury Secretary Steven Mnuchin speaks to the news media after giving a television interview at the White House in Washington, December 3, 2018.
The “historic” phase one trade agreement reached Friday between the U.S. and China will boost global growth, according to U.S. Treasury Secretary Steven Mnuchin.
Speaking to CNBC’s Hadley Gamble at the Doha Forum on Saturday, Mnuchin said the partial deal would address a host of issues central to Washington’s trade agenda.
Mnuchin also dismissed the n
‘Historic’ phase one deal with China will be very good for global growth, Treasury Secretary Steven Mnuchin says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-14  Authors: elliot smith
Keywords: news, cnbc, companies, reached, phase, treasury, good, historic, trade, china, mnuchin, deal, deals, growth, trading, global, secretary, washington, steven


'Historic' phase one deal with China will be very good for global growth, Treasury Secretary Steven Mnuchin says

Treasury Secretary Steven Mnuchin speaks to the news media after giving a television interview at the White House in Washington, December 3, 2018.

The “historic” phase one trade agreement reached Friday between the U.S. and China will boost global growth, according to U.S. Treasury Secretary Steven Mnuchin.

Speaking to CNBC’s Hadley Gamble at the Doha Forum on Saturday, Mnuchin said the partial deal would address a host of issues central to Washington’s trade agenda.

“This deals with intellectual property, this deals with technology transfer, it deals with structural agricultural issues, financial services are opening up, currency understandings, as well as a commitment to purchase U.S. agriculture and U.S. goods,” he said.

Mnuchin also dismissed the notion that the U.S. was pushing back on the rules-based trading system, arguing that a level playing field with China would benefit the global economy.

“For a very long period of time the U.S. was open to China, China was not open to the U.S. There were very strong restrictions and for the first and second largest economy in the world, there should be more trading back and forth and that’s what we’ve been working on, and I think these agreements will not only be good for the U.S., but will be very good for global growth,” he added.

Global stocks surged Friday as Washington and Beijing announced that the partial accord had been reached, averting the next round of U.S. tariffs after a bruising 18-month trade war.

U.S. and Chinese negotiators will now work toward setting a timescale to sign the agreement, which is still subject to legal procedures, with U.S. Trade Representative Robert Lighthizer telling reporters Friday that the two sides would aim to ink the deal in January in Washington.


Company: cnbc, Activity: cnbc, Date: 2019-12-14  Authors: elliot smith
Keywords: news, cnbc, companies, reached, phase, treasury, good, historic, trade, china, mnuchin, deal, deals, growth, trading, global, secretary, washington, steven


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