The 3 things Samsung did to try to fix the issues with its Galaxy Fold

Samsung announced Thursday that its foldable phone called the Galaxy Fold will go on sale in South Korea starting Sept. 6, saying it had made key changes to the device to prevent glitches that were exposed earlier this year. At the IFA consumer electronics show in Berlin, Samsung gave CNBC a close-up look at the changes it had made to the smartphone. First, the South Korean electronics giant said it had extended a protective screen layer underneath the side bezels of the phone. Second, the compa


Samsung announced Thursday that its foldable phone called the Galaxy Fold will go on sale in South Korea starting Sept. 6, saying it had made key changes to the device to prevent glitches that were exposed earlier this year. At the IFA consumer electronics show in Berlin, Samsung gave CNBC a close-up look at the changes it had made to the smartphone. First, the South Korean electronics giant said it had extended a protective screen layer underneath the side bezels of the phone. Second, the compa
The 3 things Samsung did to try to fix the issues with its Galaxy Fold Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: elizabeth schulze
Keywords: news, cnbc, companies, fix, prevent, underneath, earlier, try, changes, electronics, things, south, fold, protective, issues, samsung, phone, galaxy, screen


The 3 things Samsung did to try to fix the issues with its Galaxy Fold

Samsung announced Thursday that its foldable phone called the Galaxy Fold will go on sale in South Korea starting Sept. 6, saying it had made key changes to the device to prevent glitches that were exposed earlier this year.

At the IFA consumer electronics show in Berlin, Samsung gave CNBC a close-up look at the changes it had made to the smartphone.

First, the South Korean electronics giant said it had extended a protective screen layer underneath the side bezels of the phone. This is to prevent the screen from looking like a film that could be removed, a problem that some bloggers encountered with review units earlier this year.

Second, the company installed what it called a protective cap on the hinges of the phone where it folds. Samsung said this would prevent debris like dirt from getting underneath the screen.


Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: elizabeth schulze
Keywords: news, cnbc, companies, fix, prevent, underneath, earlier, try, changes, electronics, things, south, fold, protective, issues, samsung, phone, galaxy, screen


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US futures point to slightly higher open, reversing earlier losses

U.S. stock index futures were slightly higher Friday morning. ET, Dow futures rose 42 points, indicating a positive open of more than 63 points. Futures on the S&P and Nasdaq were both marginally higher, reversing earlier losses. Market focus is largely attuned to global trade developments, after President Donald Trump said that some trade discussions had taken place on Thursday, with more scheduled over the coming weeks. At the same time, economic data has also pointed to a global growth slowdo


U.S. stock index futures were slightly higher Friday morning. ET, Dow futures rose 42 points, indicating a positive open of more than 63 points. Futures on the S&P and Nasdaq were both marginally higher, reversing earlier losses. Market focus is largely attuned to global trade developments, after President Donald Trump said that some trade discussions had taken place on Thursday, with more scheduled over the coming weeks. At the same time, economic data has also pointed to a global growth slowdo
US futures point to slightly higher open, reversing earlier losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: sam meredith
Keywords: news, cnbc, companies, trade, reversing, higher, worlds, global, slightly, tensions, futures, wild, losses, weekschinas, point, willing, points, earlier, open


US futures point to slightly higher open, reversing earlier losses

U.S. stock index futures were slightly higher Friday morning.

At around 03:45 a.m. ET, Dow futures rose 42 points, indicating a positive open of more than 63 points. Futures on the S&P and Nasdaq were both marginally higher, reversing earlier losses.

Market focus is largely attuned to global trade developments, after President Donald Trump said that some trade discussions had taken place on Thursday, with more scheduled over the coming weeks.

China’s commerce ministry said Thursday it was willing to calmly resolve the long-running trade dispute, but added it was against any further escalation in tensions. The comments spurred hopes for progress in talks.

Trade tensions have dominated market sentiment for much of this year, with wild swings in global markets as rhetoric between world’s two largest economies fluctuates from conciliatory to combative.

At the same time, economic data has also pointed to a global growth slowdown, ramping up concerns of a possible recession.


Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: sam meredith
Keywords: news, cnbc, companies, trade, reversing, higher, worlds, global, slightly, tensions, futures, wild, losses, weekschinas, point, willing, points, earlier, open


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Microsoft hires Apple’s former Siri chief

Microsoft has hired Bill Stasior, the person who until recently was in charge of the Siri virtual assistant at Apple. Since then Microsoft has made AI acquisitions that have brought in additional talent, including Bonsai, Lobe and Semantic Machines. Prior to his time at Apple, Stasior was one of the top executives at Amazon. Javier Soltero, the person who was leading the Microsoft’s Siri competitor, Cortana, left last year. WATCH: Microsoft announces $1 billion investment in Elon Musk-backed AI


Microsoft has hired Bill Stasior, the person who until recently was in charge of the Siri virtual assistant at Apple. Since then Microsoft has made AI acquisitions that have brought in additional talent, including Bonsai, Lobe and Semantic Machines. Prior to his time at Apple, Stasior was one of the top executives at Amazon. Javier Soltero, the person who was leading the Microsoft’s Siri competitor, Cortana, left last year. WATCH: Microsoft announces $1 billion investment in Elon Musk-backed AI
Microsoft hires Apple’s former Siri chief Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: jordan novet
Keywords: news, cnbc, companies, siri, resume, hires, technology, apple, ai, chief, company, microsoft, apples, earlier, microsofts, stasior


Microsoft hires Apple's former Siri chief

Microsoft has hired Bill Stasior, the person who until recently was in charge of the Siri virtual assistant at Apple.

The move underlines Microsoft’s focus under CEO Satya Nadella on emerging technologies like artificial intelligence.

In 2016 Microsoft established the Artificial Intelligence and Research engineering group in a reorganization. Months later the company added AI to its list of top priorities in its annual report. Last year Microsoft went further in another reorganization that placed some AI teams in the group working on Microsoft’s Azure public cloud.

Since then Microsoft has made AI acquisitions that have brought in additional talent, including Bonsai, Lobe and Semantic Machines.

Stasior announced his job change by updating his resume on his personal website on Monday. The resume says he’ll be corporate vice president of technology in the office of the chief technology officer, Kevin Scott. The Information reported on the move earlier on Monday.

A Microsoft spokesperson confirmed Stasior’s hire. “Starting in August, he will work to help align technology strategies across the company,” the spokesperson wrote in an email to CNBC.

Stasior was vice president for AI and Siri when he left in May, according to the resume. He had been at Apple since 2012. He said that he expanded the team from 70 engineers to more than 1,100 people and that he “played the leading role in bringing modern machine learning to Siri and Apple.” Apple said in 2018 that Siri was being actively used on more than 500 million devices, and earlier this year the company said that Siri would sound more natural in the forthcoming iOS 13 release. Apple previously made gains in this area through AI work.

Prior to his time at Apple, Stasior was one of the top executives at Amazon. He previously worked at AltaVista and Oracle. Stasior didn’t respond to a request for comment.

Javier Soltero, the person who was leading the Microsoft’s Siri competitor, Cortana, left last year. Earlier this year Cortana was decoupled from the search box in Microsoft’s Windows 10 operating system.

WATCH: Microsoft announces $1 billion investment in Elon Musk-backed AI company


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: jordan novet
Keywords: news, cnbc, companies, siri, resume, hires, technology, apple, ai, chief, company, microsoft, apples, earlier, microsofts, stasior


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US Customs and Border Protection says systems are being restored after earlier outage snarled international arrivals at airports

Ex-SEC chief questions Markopolos for not bringing GE claims as a…”If he had brought all of his data to the SEC first, he would reap potentially, up to 30% of the potential recovery,” says former SEC Chairman Harvey Pitt. Investingread more


Ex-SEC chief questions Markopolos for not bringing GE claims as a…”If he had brought all of his data to the SEC first, he would reap potentially, up to 30% of the potential recovery,” says former SEC Chairman Harvey Pitt. Investingread more
US Customs and Border Protection says systems are being restored after earlier outage snarled international arrivals at airports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: leslie josephs
Keywords: news, cnbc, companies, sec, markopolos, outage, border, restored, customs, international, potential, questions, potentially, protection, recovery, snarled, pittinvestingread, harvey, earlier, arrivals, systems, ge, reap


US Customs and Border Protection says systems are being restored after earlier outage snarled international arrivals at airports

Ex-SEC chief questions Markopolos for not bringing GE claims as a…

“If he had brought all of his data to the SEC first, he would reap potentially, up to 30% of the potential recovery,” says former SEC Chairman Harvey Pitt.

Investing

read more


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: leslie josephs
Keywords: news, cnbc, companies, sec, markopolos, outage, border, restored, customs, international, potential, questions, potentially, protection, recovery, snarled, pittinvestingread, harvey, earlier, arrivals, systems, ge, reap


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Gold sheds 2% on signs of US-China trade thaw

Spot gold was down 0.7% at $1,501.36 per ounce, having earlier hit its highest level since April 2013 at $1,534.31. U.S. gold futures were down 0.3% to $1,512.6 an ounce. “While this does not dramatically dim the overall positive outlook for gold, it will temper its momentum in the short term.” Meanwhile, holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, jumped 0.9% to 847.77 tonnes on Monday. Among other precious metals, silver fell 0.5% to $16.97 per ounce, whi


Spot gold was down 0.7% at $1,501.36 per ounce, having earlier hit its highest level since April 2013 at $1,534.31. U.S. gold futures were down 0.3% to $1,512.6 an ounce. “While this does not dramatically dim the overall positive outlook for gold, it will temper its momentum in the short term.” Meanwhile, holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, jumped 0.9% to 847.77 tonnes on Monday. Among other precious metals, silver fell 0.5% to $16.97 per ounce, whi
Gold sheds 2% on signs of US-China trade thaw Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13
Keywords: news, cnbc, companies, sides, precious, signs, trading, gold, tariffs, uschina, sheds, products, earlier, ounce, trade, weeks, thaw


Gold sheds 2% on signs of US-China trade thaw

Gold fell 2% on Tuesday, reversing course from earlier in the session when it scaled a six-year peak, after the United States said it would delay tariffs on some Chinese products and on news that both sides agreed to continue trade talks.

Spot gold was down 0.7% at $1,501.36 per ounce, having earlier hit its highest level since April 2013 at $1,534.31. U.S. gold futures were down 0.3% to $1,512.6 an ounce.

The Office of the U.S. Trade Representative said the Trump administration will delay 10% tariffs on certain Chinese products, including laptops and cell phones, that had been scheduled to start next month.

“A thawing, perhaps reconsideration of the new proposed tariffs has drained the heat from the (gold) rally for now,” said Tai Wong, head of base and precious metals derivatives trading at BMO.

“While this does not dramatically dim the overall positive outlook for gold, it will temper its momentum in the short term.”

U.S. stocks turned positive and the dollar rose on the news, with further momentum also coming from news that both sides had agreed to conduct phone calls on trade again in two weeks.

“Gold will be trading in a defensive position until the next two weeks; there will be some buying at the dips but the explosive moves higher we’ve seen in the last two weeks is not expected with the trade talks hanging over the market,” said Bob Haberkorn, senior market strategist at RJO Futures.

Gold’s rise to over 6-year highs earlier in the day was triggered by a rout in the Argentine peso and protesters clashing with police at the Hong Kong international airport after flights were disrupted for a second day.

Market focus is now on the U.S. Federal Reserve’s annual symposium next week for clues on the future trajectory of interest rates. Traders see a 91.2% chance of a 25 basis-point rate cut by the U.S. central bank this September.

Meanwhile, holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, jumped 0.9% to 847.77 tonnes on Monday.

Among other precious metals, silver fell 0.5% to $16.97 per ounce, while platinum was up 0.5% to $856.41. Palladium, meanwhile gained 2% to $1,456.20 an ounce.


Company: cnbc, Activity: cnbc, Date: 2019-08-13
Keywords: news, cnbc, companies, sides, precious, signs, trading, gold, tariffs, uschina, sheds, products, earlier, ounce, trade, weeks, thaw


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Hong Kong airport returns to calm, after riot police clashed with protesters earlier

Riot police disperse anti-extradition bill protesters during a mass demonstration after a woman was shot in the eye, at the Hong Kong international airport, in Hong Kong China August 13, 2019. Thomas Peter | ReutersThe Hong Kong airport returned to calm as most protesters left the airport early Wednesday morning. At the airport, protesters discussed among themselves whether they should simply block all access to the facility. On Tuesday, President Donald Trump tweeted that U.S. intelligence info


Riot police disperse anti-extradition bill protesters during a mass demonstration after a woman was shot in the eye, at the Hong Kong international airport, in Hong Kong China August 13, 2019. Thomas Peter | ReutersThe Hong Kong airport returned to calm as most protesters left the airport early Wednesday morning. At the airport, protesters discussed among themselves whether they should simply block all access to the facility. On Tuesday, President Donald Trump tweeted that U.S. intelligence info
Hong Kong airport returns to calm, after riot police clashed with protesters earlier Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: matt clinch
Keywords: news, cnbc, companies, airport, clashed, riot, earlier, flights, return, shut, kong, hong, china, returns, city, night, protesters, calm


Hong Kong airport returns to calm, after riot police clashed with protesters earlier

Riot police disperse anti-extradition bill protesters during a mass demonstration after a woman was shot in the eye, at the Hong Kong international airport, in Hong Kong China August 13, 2019. Thomas Peter | Reuters

The Hong Kong airport returned to calm as most protesters left the airport early Wednesday morning. Earlier, riot police clashed with pro-democracy protesters late Tuesday night, moving into the terminal where the demonstrators had shut down operations at the busy transport hub for two straight days. The Tuesday night demonstrations involved officers armed with pepper spray and batons confronting the protesters who used luggage carts to barricade entrances to the airport terminal. Police took several people into a police van waiting at the entrance to the airport’s arrivals hall. Police said they tried to help ambulance officers reach an injured man whom protesters had detained on suspicion of being an undercover agent. Protesters also detained a second man who they suspected of being an undercover agent. After emptying out his belongings, they found a blue T-shirt that has been worn by pro-Beijing supporters that they said was evidence he was a spy.

Earlier in the day, authorities were forced to cancel all remaining flights as the city’s pro-Beijing leader warned that the protesters had pushed events onto a “path of no return.” After a brief period when flights were able to take off and land, the airport authority suspended check-in services for departing flights as of 4:30 p.m. Departing flights that had completed the process were able to continue to operate. It said it did not expect arriving flights to be affected, although dozens were already canceled. The authority advised people not to come to the airport, one of the world’s busiest. More than 200 flights were canceled Monday and the airport was effectively shut down with no flights taking off or landing. Passengers have been forced to stay in the city while airlines tried to find other ways to get them to their destinations. For Grace Bendal, a 43-year-old contractor from the Philippines, Tuesday was the second straight day she came to the airport only to learn flights were canceled. She spent the weekend in Hong Kong with her primary school-age children, who were eager to return to classes. She said they have already missed two days of school and the extra day in the city has cost her around 3,000 Hong Kong dollars ($400). Though there were no airline employees at check-in counters Tuesday evening, Bendal said she and her children planned to stay at the airport all night. “I cannot blame them, because they are fighting for something,” Bendal said of the protesters. “But then it’s not right if we are the ones suffering.” The airport disruptions are an escalation of a summer of demonstrations aimed at what many Hong Kong residents see as an increasing erosion of the freedoms they were promised in 1997 when Communist Party-ruled mainland China took over what had been a British colony. The protests have built on an opposition movement that shut down much of the city for seven weeks in 2014 before it eventually fizzled and its leaders were jailed on public disturbance charges. The central government in Beijing has ominously characterized the current protest movement as something approaching “terrorism” that poses an “existential threat” to citizens. While Beijing tends to define terrorism broadly, extending it especially to nonviolent movements opposing government policies in minority regions such as Tibet and Xinjiang, its use of the term in relation to Hong Kong raised the prospect of greater violence and the possible suspension of legal rights for those detained.

Hong Kong leader Carrie Lam said the instability, chaos and violence have placed the city on a “path of no return.” The black-clad demonstrators have shown no sign of letting up on their campaign to force Lam’s administration to respond to their demands, including that she step down and scrap proposed legislation under which some suspects could be sent to mainland China, where critics say they could face torture and unfair or politically charged trials. Lam has rejected all calls for dialogue, part of what analysts say is a strategy to wear down the opposition movement through police action while prompting demonstrators to take more violent and extreme actions that will turn the Hong Kong public against them. At the airport, protesters discussed among themselves whether they should simply block all access to the facility. Meanwhile, paramilitary police were assembling across the border in the city of Shenzhen for exercises that some saw as a threat to increase force against the mostly young protesters who have turned out by the thousands in the past 10 weeks. On Tuesday, President Donald Trump tweeted that U.S. intelligence informed him that Chinese troops were being moved to the Hong Kong border.

Anti-government protesters try to prevent a passenger from breaching a barricade in front of departure gates, during a demonstration at Hong Kong Airport, China August 13, 2019. Thomas Peter | Reuters


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: matt clinch
Keywords: news, cnbc, companies, airport, clashed, riot, earlier, flights, return, shut, kong, hong, china, returns, city, night, protesters, calm


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CVS Health shares rise on earnings beat, higher full-year forecast

CVS Health smashed Wall Street’s second-quarter expectations, with its three businesses posting better-than-expected results. The company’s newly acquired Aetna health insurance business also beat Wall Street’s revenue expectations, reaching $17.4 billion in the quarter. CVS is trying to prove to investors that it can integrate Aetna and transform itself into an innovative health-care company. Net sales reached $63.43 billion, up 35% from the year ago-quarter’s $46.92 billion, largely because of


CVS Health smashed Wall Street’s second-quarter expectations, with its three businesses posting better-than-expected results. The company’s newly acquired Aetna health insurance business also beat Wall Street’s revenue expectations, reaching $17.4 billion in the quarter. CVS is trying to prove to investors that it can integrate Aetna and transform itself into an innovative health-care company. Net sales reached $63.43 billion, up 35% from the year ago-quarter’s $46.92 billion, largely because of
CVS Health shares rise on earnings beat, higher full-year forecast Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: angelica lavito, fred imbert
Keywords: news, cnbc, companies, forecast, rise, billion, beat, health, shares, cvs, earlier, company, earnings, healthcare, share, aetna, analysts, wall, fullyear, higher


CVS Health shares rise on earnings beat, higher full-year forecast

CVS Health smashed Wall Street’s second-quarter expectations, with its three businesses posting better-than-expected results. The company also raised its full-year forecast on Wednesday.

Here’s what the company reported compared with Wall Street estimates, based on a survey of analysts by Refinitiv:

Earnings per share: $1.89, adjusted, vs. $1.69 expected

Revenue: $63.43 billion vs. $62.65 billion expected

Prices of brand name medicines rose in the quarter, boosting CVS’ drugstore and pharmacy benefit manager’s results. Both units make more money when prices are higher. Drugmakers, facing political scrutiny, had shown reluctance to hike their prices earlier this year.

CVS’ pharmacy filled 19% more prescriptions this quarter than in the same period last year, which the company attributed to clinical programs intended to keep people on their prescribed medicines. Sales in the front of CVS’ drugstores also rose, mostly thanks to an increase of people buying health products like cough medicine.

The company’s newly acquired Aetna health insurance business also beat Wall Street’s revenue expectations, reaching $17.4 billion in the quarter. CVS is trying to prove to investors that it can integrate Aetna and transform itself into an innovative health-care company.

CVS reported second-quarter net income of $1.93 billion, or $1.49 per share, up from a loss of $2.56 billion, or $2.52 per share a year earlier. When adjusted, CVS earned $1.89 per share, above the $1.69 per share expected by analysts surveyed by Refinitiv.

Net sales reached $63.43 billion, up 35% from the year ago-quarter’s $46.92 billion, largely because of the Aetna health insurance business CVS acquired. Analysts had anticipated $62.65 billion.

The company now expects full-year adjusted earnings between $6.89 and $7 per share, up from the previously guided range of $6.75 to $6.90 a share.

Shares of CVS rose 7.45% on Wednesday.

“We are transforming our company and the health-care industry and accelerating enterprise growth as we move forward,” CVS CEO Larry Merlo told analysts on a conference call.

CVS spooked the Street earlier this year when it guided well below analysts’ expectations. It has raised the estimate a few times since, though the current forecast still falls shy of the $7.41 per share that analysts polled by Refinitiv had initially expected.

“The numbers look pretty good in relative terms,” said Jefferies health-care analyst Jared Holz. “On an absolute basis, estimates for CVS have been coming down fairly materially over the past six months, so compared to where they were starting at the beginning of the year, it looks a little bit less compelling.”

CVS still faces a number of threats, including political pressure to lower drug prices. The Trump administration proposed eliminating rebates from government programs, a move that would affect CVS’ business. The White House withdrew the plan last month and Merlo applauded the decision Wednesday.

“The administration’s withdrawal of the rebate rule provides perhaps the most significant recognition to date of the importance and the value of the PBM and the significant cost increases that would have resulted in eliminating the

power of formularies to drive price discounts and lower premiums for Medicare Part D beneficiaries, ” he said.

But the proposal found new life in a bipartisan drug pricing bill and lawmakers appear hellbent on passing legislation to lower drug prices.

CVS’ drugstores also face competition from e-commerce giant Amazon. Rival drugstore chain Walgreens on Tuesday said it would close 200 stores. CVS Pharmacy President Kevin Hourican told analysts that CVS will review the 500 leases that come up for renewal every year and will slow the pace of store openings by one-third.

Earlier this week, CVS announced it would expand its membership program CarePass nationwide in a bid to attract millennial shoppers.

Investors want to see whether CVS can integrate Aetna, the health insurer it acquired for $70 billion. CVS is touting its new health-focused stores, called HealthHUBs, as an example of how the two can work together. CVS introduced the first three stores in Houston earlier this year and announced earlier this summer it would open 1,500 HealthHUBs by the end of 2021.

Shares of CVS have slid 18% this year. The S&P health-care index has risen 3.6% in the same period.


Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: angelica lavito, fred imbert
Keywords: news, cnbc, companies, forecast, rise, billion, beat, health, shares, cvs, earlier, company, earnings, healthcare, share, aetna, analysts, wall, fullyear, higher


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Asia stocks slip amid US-China trade uncertainty

Shares in mainland China slipped on the day: The Shanghai composite shed 1.56% to about 2,777.56 while the Shenzhen component fell 1.39% to 8,859.47. The Shenzhen composite tumbled 1.777% to approximately 1,490.30. In Hong Kong, the Hang Seng index slipped 0.67% to close at 25,976.24, after earlier dropping more than 2%. Japan’s Nikkei 225 fell 0.65% on the day to 20,585.31 while the Topix index declined 0.44% to end its trading day at 1,499.23. In South Korea, the Kospi shed 1.51% to close at 1


Shares in mainland China slipped on the day: The Shanghai composite shed 1.56% to about 2,777.56 while the Shenzhen component fell 1.39% to 8,859.47. The Shenzhen composite tumbled 1.777% to approximately 1,490.30. In Hong Kong, the Hang Seng index slipped 0.67% to close at 25,976.24, after earlier dropping more than 2%. Japan’s Nikkei 225 fell 0.65% on the day to 20,585.31 while the Topix index declined 0.44% to end its trading day at 1,499.23. In South Korea, the Kospi shed 1.51% to close at 1
Asia stocks slip amid US-China trade uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: eustance huang
Keywords: news, cnbc, companies, trade, amid, slipped, composite, shed, earlier, index, stocks, asia, uschina, day, fell, shenzhen, slip, trading, uncertainty


Asia stocks slip amid US-China trade uncertainty

Asia markets pared earlier losses but still saw declines on Tuesday as the U.S.-China trade war intensified, after Beijing confirmed it is suspending agricultural product purchases in response to new American tariffs.

President Donald Trump said last week the U.S. is putting 10% tariffs on another $300 billion worth of Chinese goods starting Sept. 1.

Shares in mainland China slipped on the day: The Shanghai composite shed 1.56% to about 2,777.56 while the Shenzhen component fell 1.39% to 8,859.47. The Shenzhen composite tumbled 1.777% to approximately 1,490.30.

In Hong Kong, the Hang Seng index slipped 0.67% to close at 25,976.24, after earlier dropping more than 2%.

Japan’s Nikkei 225 fell 0.65% on the day to 20,585.31 while the Topix index declined 0.44% to end its trading day at 1,499.23.

In South Korea, the Kospi shed 1.51% to close at 1,917.50, Australia’s S&P/ASX 200 slipped 2.44% to finish its trading day at 6,478.10.

The MSCI Asia ex-Japan index declined 0.79%, as of 4:15 p.m. HK/SIN.

The Tuesday session in Asia followed overnight declines on Wall Street, where the Dow Jones Industrial Average plunged more than 700 points, the S&P 500 dropped nearly 3% and the Nasdaq Composite fell 3.5%. It was the worst percentage drop for all three indexes this year.


Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: eustance huang
Keywords: news, cnbc, companies, trade, amid, slipped, composite, shed, earlier, index, stocks, asia, uschina, day, fell, shenzhen, slip, trading, uncertainty


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Beijing responds to Trump’s new $300 billion tariff threat

China’s foreign ministry pushed back against President Donald Trump’s latest tariff threat on Friday, reportedly saying the world’s largest economy should give up its illusions, shoulder some responsibility and come back to the right track on resolving the trade war. She added that while China did not want a trade war with the U.S., it was not afraid of fighting one. The move breaks a truce in the long-running trade war between Washington and Beijing, with investors fearful it could further disr


China’s foreign ministry pushed back against President Donald Trump’s latest tariff threat on Friday, reportedly saying the world’s largest economy should give up its illusions, shoulder some responsibility and come back to the right track on resolving the trade war. She added that while China did not want a trade war with the U.S., it was not afraid of fighting one. The move breaks a truce in the long-running trade war between Washington and Beijing, with investors fearful it could further disr
Beijing responds to Trump’s new $300 billion tariff threat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: sam meredith
Keywords: news, cnbc, companies, tariff, goods, threat, billion, trade, tariffs, earlier, war, foreign, trumps, 300, points, responds, ministry, beijing


Beijing responds to Trump's new $300 billion tariff threat

China’s foreign ministry pushed back against President Donald Trump’s latest tariff threat on Friday, reportedly saying the world’s largest economy should give up its illusions, shoulder some responsibility and come back to the right track on resolving the trade war.

China’s spokesperson at the foreign ministry, Hua Chunying, said at a daily press briefing that Beijing would have to take countermeasures if the U.S. was committed to putting more tariffs on Chinese goods, Reuters reported.

She added that while China did not want a trade war with the U.S., it was not afraid of fighting one.

In a series of tweets on Thursday, Trump announced another round of tariffs on the roughly $300 billion of Chinese goods that had not already been targeted by American levies. The charge will take effect from September 1.

The move breaks a truce in the long-running trade war between Washington and Beijing, with investors fearful it could further disrupt global supply chains.

The tariff threat also came as a surprise to financial markets, in large part because negotiators for the two sides had just met earlier this week in China.

The Dow Jones Industrial Average closed 280.85 points lower at 26,583.42 on Thursday, after rallying as much as 311 points earlier in the day.


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: sam meredith
Keywords: news, cnbc, companies, tariff, goods, threat, billion, trade, tariffs, earlier, war, foreign, trumps, 300, points, responds, ministry, beijing


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Apple stock drops on Trump tariff threat

Apple stock was down more than 2% at one point on Tuesday, erasing previous earlier gains. “The proposed tariffs also cover accessories that Apple makes for these devices, such as monitors and keyboards.” “We urge the U.S. Government not to impose tariffs on these products,” Apple said in the letter. That list ended up not including Apple products. However, Trump said that his administration would not grant Apple tariff exceptions on key parts from China.


Apple stock was down more than 2% at one point on Tuesday, erasing previous earlier gains. “The proposed tariffs also cover accessories that Apple makes for these devices, such as monitors and keyboards.” “We urge the U.S. Government not to impose tariffs on these products,” Apple said in the letter. That list ended up not including Apple products. However, Trump said that his administration would not grant Apple tariff exceptions on key parts from China.
Apple stock drops on Trump tariff threat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: kif leswing
Keywords: news, cnbc, companies, drops, stock, products, threat, china, apple, including, earlier, proposed, list, tariff, trump, tariffs


Apple stock drops on Trump tariff threat

Apple stock dropped sharply after President Donald Trump said on Thursday that the U.S. will put an additional 10% tariff on $300 billion worth of goods imported from China starting on September 1.

Apple stock was down more than 2% at one point on Tuesday, erasing previous earlier gains. The Dow dropped more than 200 points on the Trump tweet. The S&P 500 was down less than 1% but had earlier gains wiped out.

The company assembles iPhones and other computers in China, making it vulnerable to price increases if a tariff were to be placed on Chinese exports, although it is unconfirmed which Apple products may be affected by the proposed tariff. Apple declined to comment.

On June 17, Apple said in a letter to U.S. trade representative Robert Lighthizer that a fourth proposed tariff list which covers an additional $300 billion of imports from China would cover “all of Apple’s major products” and would would hurt its contribution to the U.S. economy. Apple can also apply for exemptions or exceptions for its products.

“The proposed tariff list covers all of Apple’s major products, including iPhone, iPad, Mac, AirPods, and AppleTV, as well as the parts and batteries used to repair products in the United States,” Apple said in the letter. “The proposed tariffs also cover accessories that Apple makes for these devices, such as monitors and keyboards.”

“We urge the U.S. Government not to impose tariffs on these products,” Apple said in the letter.

“The way I view this is, the vast majority of our products are kind of made everywhere,” Apple CEO Tim Cook said earlier this week on a call with analysts. “That’s the nature of a global supply chain. Largely, I think that will carry the day in the future as well.”

Apple generally opposes the U.S. tariffs, including those placed on a separate list of goods that went into effect last fall and were raised to 25% in May. That list ended up not including Apple products. Cook said last year that he personally told President Donald Trump that tariffs are the wrong approach to China.

On the analyst call this week, Cook said that Apple was investing in capacity in the United States because it wants to “make” a high-end desktop computer, the Mac Pro, domestically. However, Trump said that his administration would not grant Apple tariff exceptions on key parts from China.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: kif leswing
Keywords: news, cnbc, companies, drops, stock, products, threat, china, apple, including, earlier, proposed, list, tariff, trump, tariffs


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