Asia stocks trade mixed; pound strengthens amid progress on proposed Brexit deal

Theresa May said on Wednesday she had obtained enough support for her proposed Brexit deal to move forward. “I firmly believe that the draft withdrawal agreement was the best that could be negotiated,” May told reporters in London. “The choices before us were difficult … but the collective decision by Cabinet was that the government should agree the draft withdrawal agreement and the outlying political declaration.” Some market watchers said that the uncertainty surrounding a deal had earlier


Theresa May said on Wednesday she had obtained enough support for her proposed Brexit deal to move forward. “I firmly believe that the draft withdrawal agreement was the best that could be negotiated,” May told reporters in London. “The choices before us were difficult … but the collective decision by Cabinet was that the government should agree the draft withdrawal agreement and the outlying political declaration.” Some market watchers said that the uncertainty surrounding a deal had earlier
Asia stocks trade mixed; pound strengthens amid progress on proposed Brexit deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: eustance huang
Keywords: news, cnbc, companies, trade, agreement, mixed, watchers, brexit, stocks, withdrawal, progress, weighed, asia, morning, uncertainty, strengthens, proposed, pound, deal, draft, earlier


Asia stocks trade mixed; pound strengthens amid progress on proposed Brexit deal

Theresa May said on Wednesday she had obtained enough support for her proposed Brexit deal to move forward.

“I firmly believe that the draft withdrawal agreement was the best that could be negotiated,” May told reporters in London. “The choices before us were difficult … but the collective decision by Cabinet was that the government should agree the draft withdrawal agreement and the outlying political declaration.”

“This is a decisive step which enables us to move on and finalize the deal in the days ahead,” May added.

Following her announcement, the British pound rebounded against the greenback. On Thursday morning during Asian hours, Sterling traded at $1.3002 after touching an earlier high of $1.3006.

Some market watchers said that the uncertainty surrounding a deal had earlier weighed on risk sentiment.

Parliamentary approval for the Brexit draft agreement is still in “considerable doubt,” according to Ray Attrill, head of foreign-exchange strategy at the National Australia Bank.

“We still can’t say with any confidence whether this deal, no deal, or indeed a second referendum, is now the most probable outcome to this ongoing saga,” he said in a morning note.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: eustance huang
Keywords: news, cnbc, companies, trade, agreement, mixed, watchers, brexit, stocks, withdrawal, progress, weighed, asia, morning, uncertainty, strengthens, proposed, pound, deal, draft, earlier


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Amazon would not exist had Walmart gone online earlier: Gerald Storch

“If Walmart had made the kind of investments they’re making today, there would have been no Amazon,” Storch said on “Squawk Alley.” For example, Walmart recently paid $16 billion to buy a majority stake in Indian e-commerce company Flipkart. While revenue fell short of estimates, Walmart earnings beat expectations, fueled by strong e-commerce sales. Online sales were up 43 percent during the quarter. Shares of Amazon, which fell into a bear market earlier this week, has a market value of about $


“If Walmart had made the kind of investments they’re making today, there would have been no Amazon,” Storch said on “Squawk Alley.” For example, Walmart recently paid $16 billion to buy a majority stake in Indian e-commerce company Flipkart. While revenue fell short of estimates, Walmart earnings beat expectations, fueled by strong e-commerce sales. Online sales were up 43 percent during the quarter. Shares of Amazon, which fell into a bear market earlier this week, has a market value of about $
Amazon would not exist had Walmart gone online earlier: Gerald Storch Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: tyler clifford
Keywords: news, cnbc, companies, earlier, storch, gone, market, online, sales, gerald, ecommerce, investments, amazon, exist, wouldnt, billion, walmart


Amazon would not exist had Walmart gone online earlier: Gerald Storch

Amazon wouldn’t exist if WalMart made today’s investments years ago, says former Toys R Us CEO 7 Hours Ago | 02:59

Walmart has been making huge investments to boost its online shopping operations, but it’s still “trying desperately to catch up,” former Target Vice Chairman Gerald Storch told CNBC on Thursday.

“If Walmart had made the kind of investments they’re making today, there would have been no Amazon,” Storch said on “Squawk Alley.”

For example, Walmart recently paid $16 billion to buy a majority stake in Indian e-commerce company Flipkart. In late 2016, it paid $3 billion for then-startup Jet.com.

Amazon “certainly wouldn’t have grown to the scale it is, and they wouldn’t have got the lead they have” if Walmart had gotten an earlier start, said Storch, former CEO of Saks Fifth Avenue-parent Hudson’s Bay.

Walmart does draw “strength” from leveraging its brick-and-mortar stores to compliment its e-commerce operations such as its online grocery ordering and in-store pickup, he said. “That is the model of the future.”

Storch appeared on CNBC Thursday just hours after Walmart reported mixed third quarter results.

While revenue fell short of estimates, Walmart earnings beat expectations, fueled by strong e-commerce sales. Online sales were up 43 percent during the quarter.

Walmart also raised full-year forecasts and predicted a strong holiday shopping season.

Brett Biggs, chief financial officer at Walmart, told CNBC the company was still on track to meet its goal of 40 percent e-commerce sales growth for the full year.

Amazon, on the other hand, is growing 20 percent a year “on a much larger base,” said Storch, former chairman and CEO at Toys “R” Us.

Walmart has a stock market value of about $290 billion. Shares, while lower Thursday, were still up about 11 percent year-to-date.

Shares of Amazon, which fell into a bear market earlier this week, has a market value of about $760 billion. Amazon had become the second company behind Apple to hit a $1 trillion market cap on Sept. 4. Despite the recent sharp drop, the stock was still up about 35 percent in 2018.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: tyler clifford
Keywords: news, cnbc, companies, earlier, storch, gone, market, online, sales, gerald, ecommerce, investments, amazon, exist, wouldnt, billion, walmart


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Citi will move 1,100 workers earlier than planned to make way for Amazon in NYC

Citi has been consolidating its New York area staff anyway, moving workers to its headquarters in glitzy Tribeca and other locations. On Tuesday, the banking giant said it would move 1,100 workers from its tower in Long Island City to other locations in the first half of next year “to make room for Amazon.” “Given what it would mean to New York and Long Island City to have Amazon establish a significant presence here, we want to do our part to make this possible,” said Citi CEO Michael Corbat in


Citi has been consolidating its New York area staff anyway, moving workers to its headquarters in glitzy Tribeca and other locations. On Tuesday, the banking giant said it would move 1,100 workers from its tower in Long Island City to other locations in the first half of next year “to make room for Amazon.” “Given what it would mean to New York and Long Island City to have Amazon establish a significant presence here, we want to do our part to make this possible,” said Citi CEO Michael Corbat in
Citi will move 1,100 workers earlier than planned to make way for Amazon in NYC Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: liz moyer, daniel acker, bloomberg, getty images, espiegle, istock
Keywords: news, cnbc, companies, york, square, long, workers, location, planned, citi, tower, city, washington, island, way, amazon, 1100, earlier, nyc


Citi will move 1,100 workers earlier than planned to make way for Amazon in NYC

Citigroup is rolling out the red carpet for Amazon’s move to the New York City area by moving more than 1,000 employees out of its Queens office tower to accommodate the e-commerce giant.

Citi has been consolidating its New York area staff anyway, moving workers to its headquarters in glitzy Tribeca and other locations. It has already planned a move out of the Queens location but has accelerated the plan. On Tuesday, the banking giant said it would move 1,100 workers from its tower in Long Island City to other locations in the first half of next year “to make room for Amazon.”

“Given what it would mean to New York and Long Island City to have Amazon establish a significant presence here, we want to do our part to make this possible,” said Citi CEO Michael Corbat in a statement.

The tower at One Court Square, bearing Citi’s name on the top, opened nearly 30 years ago and has been home to various Citi units. The move represents roughly one-third of its 3,000 employees who work in the tower in about 1 million square feet of office space. The bank had already indicated plans to move most of its workers out of the location by 2020.

After a year of suspense, Seattle-based Amazon finally revealed its choice for a second headquarters on Tuesday. It is splitting the location between Long Island City and a site in the Northern Virginia suburbs of Washington, D.C. Amazon CEO Jeff Bezos has a home in D.C. and also owns The Washington Post.

WATCH:How Amazon has changed the Seattle skyline in the last 3 years


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: liz moyer, daniel acker, bloomberg, getty images, espiegle, istock
Keywords: news, cnbc, companies, york, square, long, workers, location, planned, citi, tower, city, washington, island, way, amazon, 1100, earlier, nyc


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Trump to meet with White House trade team to discuss tariffs on European automakers: Report

President Donald Trump plans to meet with his trade team on Tuesday to discuss a draft report on European auto tariffs, according to Bloomberg News, citing three people familiar with the matter. Trump’s focus remains on crushing foreign automakers with heavy tariffs, according to an Axios report earlier on Monday. The president reportedly sees the threat of auto tariffs as a successful negotiating tactic. Trump used the auto tariffs threat when he negotiated with Canadian Prime Minister Justin T


President Donald Trump plans to meet with his trade team on Tuesday to discuss a draft report on European auto tariffs, according to Bloomberg News, citing three people familiar with the matter. Trump’s focus remains on crushing foreign automakers with heavy tariffs, according to an Axios report earlier on Monday. The president reportedly sees the threat of auto tariffs as a successful negotiating tactic. Trump used the auto tariffs threat when he negotiated with Canadian Prime Minister Justin T
Trump to meet with White House trade team to discuss tariffs on European automakers: Report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: michael sheetz, jabin botsford, the washington post, getty images
Keywords: news, cnbc, companies, house, meet, president, earlier, yeartrump, trade, discuss, according, auto, tariffs, white, report, trump, threat, team, european


Trump to meet with White House trade team to discuss tariffs on European automakers: Report

President Donald Trump plans to meet with his trade team on Tuesday to discuss a draft report on European auto tariffs, according to Bloomberg News, citing three people familiar with the matter.

Trump’s focus remains on crushing foreign automakers with heavy tariffs, according to an Axios report earlier on Monday. The president reportedly sees the threat of auto tariffs as a successful negotiating tactic. Trump used the auto tariffs threat when he negotiated with Canadian Prime Minister Justin Trudeau earlier this year.

“Trump says gleefully that the moment he started talking about maybe tariffs on cars, that [European Commission President Jean-Claude] Juncker got on the fastest plane known to mankind, comes straight over to Washington and starts offering deals,” a senior European official told Axios.

General Motors shares turned negative after the report, falling as far as $35.45 in trading. The stock closed nearly unchanged at $35.69 a share. Tariffs would be adverse to the U.S. automaker if other countries decided to retaliate.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: michael sheetz, jabin botsford, the washington post, getty images
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SAP is acquiring survey software maker Qualtrics for $8 billion

SAP is acquiring Qualtrics for $8 billion, snapping up the survey software company just before its planned IPO. In October, the German software company raised its outlook following a 41 percent jump in third-quarter cloud revenue. The deal is SAP’s second-biggest acquisition ever, following the $8.3 billion purchase of travel and expense software company Concur in 2014. To build its cloud business, SAP acquired SuccessFactors in 2011 for $3.4 billion, and earlier this year purchased Callidus for


SAP is acquiring Qualtrics for $8 billion, snapping up the survey software company just before its planned IPO. In October, the German software company raised its outlook following a 41 percent jump in third-quarter cloud revenue. The deal is SAP’s second-biggest acquisition ever, following the $8.3 billion purchase of travel and expense software company Concur in 2014. To build its cloud business, SAP acquired SuccessFactors in 2011 for $3.4 billion, and earlier this year purchased Callidus for
SAP is acquiring survey software maker Qualtrics for $8 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-11  Authors: alex sherman, daniel roland, afp, getty images
Keywords: news, cnbc, companies, deal, acquiring, sap, morgan, company, software, earlier, cloud, billion, survey, maker, qualtrics, business


SAP is acquiring survey software maker Qualtrics for $8 billion

SAP is acquiring Qualtrics for $8 billion, snapping up the survey software company just before its planned IPO.

The all-cash deal has been approved by the boards of both companies and by Qualtrics shareholders, SAP said in a statement on Sunday.

Qualtrics competes with SurveyMonkey, which went public in September. Qualtrics is bigger and growing faster than SurveyMonkey and is also more profitable.

SAP has been counting on new cloud products for growth as the transition away from traditional desktop software has taken business from its core enterprise resource planning business. In October, the German software company raised its outlook following a 41 percent jump in third-quarter cloud revenue. SAP said it now expects revenue growth of 7.5 percent to 8.5 percent this year, up from the prior range of 6 to 7.5 percent.

The deal is SAP’s second-biggest acquisition ever, following the $8.3 billion purchase of travel and expense software company Concur in 2014. To build its cloud business, SAP acquired SuccessFactors in 2011 for $3.4 billion, and earlier this year purchased Callidus for sales performance management at a price of $2.4 billion.

Qualtrics is the latest software company to get acquired just before its planned IPO. Cisco bought AppDynamics in 2017 right before its debut, and Workday bought Adaptive Insights earlier this year prior to an IPO.

It also marks another blockbuster software deal and comes just two weeks after IBM announced plans to buy Red Hat for $34 billion, the industry’s biggest ever acquisition. Earlier this year, Microsoft bought GitHub for $7.5 billion and Salesforce paid $6.5 billion for MuleSoft.

J.P. Morgan Chase advised SAP on the deal. Qatalyst Partners, Frank Quattrone’s firm, advised Qualtrics even though Goldman Sachs and Morgan Stanley were the listed lead banks for the IPO. Goldman and Morgan Stanley did not know about the sale, according to a person familiar with the matter, who asked not to be named because the discussions were private.


Company: cnbc, Activity: cnbc, Date: 2018-11-11  Authors: alex sherman, daniel roland, afp, getty images
Keywords: news, cnbc, companies, deal, acquiring, sap, morgan, company, software, earlier, cloud, billion, survey, maker, qualtrics, business


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Former Starbucks CEO Howard Schultz assembles an elite PR team as he considers running for president

Former Starbucks chairman and CEO Howard Schultz is putting together an elite public relations team as prepares to release a civic-minded new book and considers running for president in 2020. In an interview with CNBC earlier this year, Schultz left the door open to a run. The two have kept in touch since Schultz left Starbucks earlier this year, people familiar with the relationship have said. “Mr. Schultz has known Mr. Schmidt for a number of years through his work at Edelman,” Schultz’s spoke


Former Starbucks chairman and CEO Howard Schultz is putting together an elite public relations team as prepares to release a civic-minded new book and considers running for president in 2020. In an interview with CNBC earlier this year, Schultz left the door open to a run. The two have kept in touch since Schultz left Starbucks earlier this year, people familiar with the relationship have said. “Mr. Schultz has known Mr. Schmidt for a number of years through his work at Edelman,” Schultz’s spoke
Former Starbucks CEO Howard Schultz assembles an elite PR team as he considers running for president Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: brian schwartz, pier marco tacca, getty images
Keywords: news, cnbc, companies, running, team, elite, ceo, edelman, left, considers, schmidt, political, earlier, president, howard, schultz, pr, book, work, starbucks


Former Starbucks CEO Howard Schultz assembles an elite PR team as he considers running for president

Former Starbucks chairman and CEO Howard Schultz is putting together an elite public relations team as prepares to release a civic-minded new book and considers running for president in 2020.

A key player in Schultz’s growing team is Steve Schmidt, a former vice chairman at public relations powerhouse Edelman who managed Republican Sen. John McCain’s presidential campaign in 2008.

Schultz is one of the many names widely considered as a possible candidate to take on Trump in two years. In an interview with CNBC earlier this year, Schultz left the door open to a run. With experience mainly in the business world but not the political arena, Schultz would likely need experienced political operators on his side if he were to dive into presidential politics. Schmidt fits that bill.

Schmidt got to know Schultz through Edelman’s partnership with Starbucks. The two have kept in touch since Schultz left Starbucks earlier this year, people familiar with the relationship have said. Schmidt has continued to do private consulting work for Schultz on a variety of issues, including guiding him ahead of his upcoming book tour.

“Mr. Schultz has known Mr. Schmidt for a number of years through his work at Edelman,” Schultz’s spokeswoman told CNBC. “Mr. Schultz values Steve’s insights and they have stayed in touch,” she added.

Schmidt is a political analyst for MSNBC. He is a strident critic of President Donald Trump, and he left the Republican Party earlier this year.

Schmidt did not return requests for comment.

In October, Schultz hired Cheryl Cook, a longtime executive vice president at Edelman, according to two people with direct knowledge of the matter. She will be representing Schultz up until and throughout his book tour, which is expected to start in February in New York City, these people said. Cook worked at the PR firm for more than a decade and got to know Schultz directly when Starbucks was one of her clients.


Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: brian schwartz, pier marco tacca, getty images
Keywords: news, cnbc, companies, running, team, elite, ceo, edelman, left, considers, schmidt, political, earlier, president, howard, schultz, pr, book, work, starbucks


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Disney reports earnings after the bell — here’s what to watch

Here’s what to watch for when Disney reports earnings after the bell 3 Hours Ago | 05:27Walt Disney shares fell on Thursday ahead of the company’s quarterly earnings report due out after the bell. Investors should watch for three major points out of its report, according to Tuna Amobi, senior equity analyst with CFRA. Disney shares have rallied nearly 8 percent this year. granted Disney approval earlier this week for its offer to buy Twenty-First Century Fox’s entertainment assets, though the re


Here’s what to watch for when Disney reports earnings after the bell 3 Hours Ago | 05:27Walt Disney shares fell on Thursday ahead of the company’s quarterly earnings report due out after the bell. Investors should watch for three major points out of its report, according to Tuna Amobi, senior equity analyst with CFRA. Disney shares have rallied nearly 8 percent this year. granted Disney approval earlier this week for its offer to buy Twenty-First Century Fox’s entertainment assets, though the re
Disney reports earnings after the bell — here’s what to watch Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: rebecca ungarino, stephen desaulniers, drew angerer, getty images, norm betts, bloomberg, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, report, going, watch, overthetop, stock, heres, reports, shares, bell, trading, earnings, earlier, disney


Disney reports earnings after the bell — here's what to watch

Here’s what to watch for when Disney reports earnings after the bell 3 Hours Ago | 05:27

Walt Disney shares fell on Thursday ahead of the company’s quarterly earnings report due out after the bell. Investors should watch for three major points out of its report, according to Tuna Amobi, senior equity analyst with CFRA.

He told CNBC’s “Trading Nation” earlier on Thursday that the most crucial parts to watch in the report will be updates as to Disney’s acquisition of Fox assets and its integration strategy on that front, its direct-to-consumer strategies and guidance for the 2019 fiscal year.

Amobi also said he would be monitoring for specific commentary on the media company’s “over-the-top” bundle plan for consumers.

“There’s always going to be a lot of attention paid to the attrition in the expanded basic bundle … we’ve seen that in some of the companies that reported already. That secular trend continues. But I think more importantly … is how much the victories in the over-the-top, so-called digital bundles are going to offset that. That’s going to be the key,” Amobi said.

Amobi carries a bullish price target of $130 per share on the stock, which implies around 12 percent of upside from current levels. He rates the stock “strong buy.” Disney shares have rallied nearly 8 percent this year.

The E.U. granted Disney approval earlier this week for its offer to buy Twenty-First Century Fox’s entertainment assets, though the regulatory body said Disney would have to make television divestments first.

Disney shares were trading 1 percent lower on Thursday afternoon, near session lows.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: rebecca ungarino, stephen desaulniers, drew angerer, getty images, norm betts, bloomberg, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, report, going, watch, overthetop, stock, heres, reports, shares, bell, trading, earnings, earlier, disney


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Sri Lanka’s president to reconvene parliament

Sri Lanka’s President Maithripala Sirisena will reconvene parliament on Nov. 5, newly appointed Prime Minister Mahinda Rajapaksa said on Thursday, as international pressure builds to resolve a political crisis. Sirisena named the pro-China Rajapaksa as prime minister on Friday after abruptly dismissing the government of Ranil Wickremesinghe. Wickremesinghe has said his removal is unconstitutional and has demanded he be allowed to prove his parliamentary majority. “President has decided to reconv


Sri Lanka’s President Maithripala Sirisena will reconvene parliament on Nov. 5, newly appointed Prime Minister Mahinda Rajapaksa said on Thursday, as international pressure builds to resolve a political crisis. Sirisena named the pro-China Rajapaksa as prime minister on Friday after abruptly dismissing the government of Ranil Wickremesinghe. Wickremesinghe has said his removal is unconstitutional and has demanded he be allowed to prove his parliamentary majority. “President has decided to reconv
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Company: cnbc, Activity: cnbc, Date: 2018-11-01  Authors: tharaka basnayaka, nurphoto, getty images
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Sri Lanka's president to reconvene parliament

Sri Lanka’s President Maithripala Sirisena will reconvene parliament on Nov. 5, newly appointed Prime Minister Mahinda Rajapaksa said on Thursday, as international pressure builds to resolve a political crisis.

Sirisena named the pro-China Rajapaksa as prime minister on Friday after abruptly dismissing the government of Ranil Wickremesinghe.

Wickremesinghe has said his removal is unconstitutional and has demanded he be allowed to prove his parliamentary majority.

“President has decided to reconvene the parliament on 5th,” Rajapaksa said addressing a meeting at the prime minister’s office.

Sirisena had earlier prorogued the parliament till Nov. 16 but political parties and foreign powers urged an earlier session to resolve the crisis.


Company: cnbc, Activity: cnbc, Date: 2018-11-01  Authors: tharaka basnayaka, nurphoto, getty images
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Target plans to open its doors at 5 pm on Thanksgiving, one hour earlier than last year

Target on Thursday said it will open its doors earlier on Thanksgiving this year, as it expects throngs of shoppers to head to its stores across the U.S. after an early turkey dinner to shop its deals. The retailer will open at 5 p.m. on Thanksgiving and close at 1 a.m., then reopen on Black Friday at 7 a.m. Last year, Target opened at 6 p.m. on Thanksgiving. Kohl’s and Macy’s also have announced plans to open at 5 p.m. on Thanksgiving this year, sticking with what they did in 2017. On past holi


Target on Thursday said it will open its doors earlier on Thanksgiving this year, as it expects throngs of shoppers to head to its stores across the U.S. after an early turkey dinner to shop its deals. The retailer will open at 5 p.m. on Thanksgiving and close at 1 a.m., then reopen on Black Friday at 7 a.m. Last year, Target opened at 6 p.m. on Thanksgiving. Kohl’s and Macy’s also have announced plans to open at 5 p.m. on Thanksgiving this year, sticking with what they did in 2017. On past holi
Target plans to open its doors at 5 pm on Thanksgiving, one hour earlier than last year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-01  Authors: lauren thomas
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Target plans to open its doors at 5 pm on Thanksgiving, one hour earlier than last year

Target on Thursday said it will open its doors earlier on Thanksgiving this year, as it expects throngs of shoppers to head to its stores across the U.S. after an early turkey dinner to shop its deals.

The retailer will open at 5 p.m. on Thanksgiving and close at 1 a.m., then reopen on Black Friday at 7 a.m. Last year, Target opened at 6 p.m. on Thanksgiving. Kohl’s and Macy’s also have announced plans to open at 5 p.m. on Thanksgiving this year, sticking with what they did in 2017.

On past holidays, “we’ve had lines outside our stores across the country,” a Target spokeswoman told CNBC. “In fact, some guests show up hours in advance of opening. That tells us there’s a desire from our guests to start their holiday shopping earlier.”

Target also said it will have a new, mobile checkout option in stores this year to allow rushed shoppers to “skip the line.” Walmart announced a similar program earlier this week. Target workers will have handheld devices to help scan items and speed transactions from anywhere in the store. It said it expects to use this service for bigger items, like electronics.

Target late last month already laid out much of its strategy to woo shoppers this holiday season. That includes offering free, two-day shipping with no minimum purchase required, something it’s never tried before. Walmart is keeping its $35 threshold for free shipping during November and December.

Many companies are still opting to stay closed on Turkey Day this year to give workers time off with their families.


Company: cnbc, Activity: cnbc, Date: 2018-11-01  Authors: lauren thomas
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HHS secretary warns Big Pharma: Lower prices, or ‘you’ll get whatever comes at you’

Speaking from the Brookings Institution in Washington, Azar said Big Pharma cannot stand by and defend the status quo on drug pricing. On Thursday, President Donald Trump outlined the new drug-pricing proposal, which would permit Medicare to create a new payment model that would bring drug prices in line with what other nations pay. Ana Gupte, senior research analyst at Leerink Partners, told CNBC that Azar seems determined to implement the Medicare changes and drive down drug costs. “We also ex


Speaking from the Brookings Institution in Washington, Azar said Big Pharma cannot stand by and defend the status quo on drug pricing. On Thursday, President Donald Trump outlined the new drug-pricing proposal, which would permit Medicare to create a new payment model that would bring drug prices in line with what other nations pay. Ana Gupte, senior research analyst at Leerink Partners, told CNBC that Azar seems determined to implement the Medicare changes and drive down drug costs. “We also ex
HHS secretary warns Big Pharma: Lower prices, or ‘you’ll get whatever comes at you’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-26  Authors: berkeley lovelace jr, kevin lamarque
Keywords: news, cnbc, companies, price, azar, pharma, prices, youll, lower, comes, big, earlier, drug, trump, competitive, changes, hhs, medicare, secretary, ways, warns


HHS secretary warns Big Pharma: Lower prices, or 'you'll get whatever comes at you'

Health and Human Services Secretary Alex Azar had a stern warning for the pharmaceutical industry on Friday, a day after the Trump administration proposed a plan to change the way Medicare pays for certain expensive drugs.

Speaking from the Brookings Institution in Washington, Azar said Big Pharma cannot stand by and defend the status quo on drug pricing.

“Change is coming,” Azar told an audience at Brookings. “You can be a part of the solution in bringing market-based, competitive ways of compensating for drugs and lowering patient out-of-pocket costs, or you can put your head in the sand and pretend change is not coming and you’ll get whatever comes at you.”

On Thursday, President Donald Trump outlined the new drug-pricing proposal, which would permit Medicare to create a new payment model that would bring drug prices in line with what other nations pay. Azar released a report earlier that day that said the U.S. pays 1.8 times more for some prescriptions covered by Medicare Part B than other countries.

The proposal could save U.S. taxpayers billions of dollars. HHS estimates $17 billion in program savings over five years. The agency wants to issue a formal rule early next year, with the new payment model taking effect in 2020, HHS said.

Ana Gupte, senior research analyst at Leerink Partners, told CNBC that Azar seems determined to implement the Medicare changes and drive down drug costs.

“We also expect more reform changes including possible elimination of drug manufacturer rebates and price transparency,” Gupte said.

The SPDR S&P Pharmaceuticals index, which tracks drug stocks, was down more than 1 percent in intraday trading Friday.

The Pharmaceutical Research and Manufacturers of America (PhRMA), the industry’s main trade group, opposes Trump’s plan, saying in part that the administration “is imposing foreign price controls from countries with socialized health care systems that deny their citizens access and discourage innovation.”

“These proposals are to the detriment of American patients,” PhRMA president and CEO Stephen J. Ubl said in a statement. “The United States has a competitive marketplace that controls costs and provides patients with access to innovative medicines far earlier than in countries with price controls.”

Gupte said the proposed changes might actually benefit insurers like UnitedHealth Group and Humana by boosting more competitive drug prices across the industry.

“This speech is in line with the Drug Pricing Blueprint announced in May which laid out ways to lower prices, increase negotiation, and improve competition,” she said in a note earlier Friday.


Company: cnbc, Activity: cnbc, Date: 2018-10-26  Authors: berkeley lovelace jr, kevin lamarque
Keywords: news, cnbc, companies, price, azar, pharma, prices, youll, lower, comes, big, earlier, drug, trump, competitive, changes, hhs, medicare, secretary, ways, warns


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