Violent protests continue in Hong Kong after anti-mask law comes into effect

Hong Kong’s anti-mask law incited another weekend of mass protests. Despite the face mask ban, which took effect on Saturday, anti-government protesters came out in force on the weekend, many donning masks. Still, some have questioned the validity of the anti-mask ban. The turmoil was sparked by a now withdrawn bill that would have enabled suspects in Hong Kong to be extradited to mainland China for trial. Hong Kong is not the first to introduce a ban on masks during mass protests.


Hong Kong’s anti-mask law incited another weekend of mass protests. Despite the face mask ban, which took effect on Saturday, anti-government protesters came out in force on the weekend, many donning masks. Still, some have questioned the validity of the anti-mask ban. The turmoil was sparked by a now withdrawn bill that would have enabled suspects in Hong Kong to be extradited to mainland China for trial. Hong Kong is not the first to introduce a ban on masks during mass protests.
Violent protests continue in Hong Kong after anti-mask law comes into effect Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: grace shao
Keywords: news, cnbc, companies, antimask, protests, weekend, ban, effect, face, violent, kong, continue, law, comes, violence, protesters, masks, hong


Violent protests continue in Hong Kong after anti-mask law comes into effect

Hong Kong’s anti-mask law incited another weekend of mass protests.

The city’s chief executive Carrie Lam invoked emergency powers on Friday that “aimed to deter people from joining these unlawful assembly and put an end to the violence,” a pro-establishment Hong Kong legislator, who approved of the new law, told CNBC on Monday.

“Apart (from) the anti-mask law, we also urge … the public to cut ties with the violence and of course, we urge this time everyone to calm down and step back and say ‘no’ to the violence,” said Holden Chow, vice chairman of the Democratic Alliance for the Betterment and Progress of Hong Kong (DAB).

Despite the face mask ban, which took effect on Saturday, anti-government protesters came out in force on the weekend, many donning masks. Protesters often wear gas masks and other face coverings to protect themselves from tear gas fired by police, as well as from being identified.

“Almost all protesters who carry out vandalism and violence covered their face,” Lam said when she announced the face mask ban. “The purpose was to hide their identity and evade the law and they have become more and more daring.”

Still, some have questioned the validity of the anti-mask ban.

Pro-democracy lawmaker Claudia Mo took to social media on Sunday to rebut Lam’s decision to ban masks, saying that “the Chief Executive has no power to enact regulations in the manner she has.”

Mo said it is “in the immediate public interest for Legco to publicly scrutinize, vet and/or debate the matter.” The Legislative Council, or the local assembly, is informally referred to as Legco.

The city has been roiled by increasingly violent protests for over four months. The turmoil was sparked by a now withdrawn bill that would have enabled suspects in Hong Kong to be extradited to mainland China for trial.

Hong Kong is not the first to introduce a ban on masks during mass protests. Earlier this year, France introduced a similar ban in response to the country’s “yellow vest” movement that swept the European country starting last November.


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: grace shao
Keywords: news, cnbc, companies, antimask, protests, weekend, ban, effect, face, violent, kong, continue, law, comes, violence, protesters, masks, hong


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JP Morgan has created an index to track the effect of Trump’s tweets on financial markets: ‘Volfefe index’

In fact, the president’s market-moving tweets ballooned in August as he hammered China on trade and went after the Federal Reserve on interest rates. In an attempt to quantify the impact of Trump’s tweets on the bond market, J.P. Morgan devised a “Volfefe Index” to analyze how the president’s tweets are influencing volatility in U.S. interest rates. J.P. Morgan found that the index, named after Trump’s infamous and still mysterious “covfefe” tweet, explains a measurable fraction of the moves in


In fact, the president’s market-moving tweets ballooned in August as he hammered China on trade and went after the Federal Reserve on interest rates. In an attempt to quantify the impact of Trump’s tweets on the bond market, J.P. Morgan devised a “Volfefe Index” to analyze how the president’s tweets are influencing volatility in U.S. interest rates. J.P. Morgan found that the index, named after Trump’s infamous and still mysterious “covfefe” tweet, explains a measurable fraction of the moves in
JP Morgan has created an index to track the effect of Trump’s tweets on financial markets: ‘Volfefe index’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-08  Authors: emma newburger
Keywords: news, cnbc, companies, index, tweets, volfefe, effect, morgan, volatility, reserve, marketmoving, trade, trump, trumps, financial, presidents, markets, track


JP Morgan has created an index to track the effect of Trump's tweets on financial markets: 'Volfefe index'

President Donald Trump speaks as he receives a status report on Hurricane Dorian in the Oval Office of the White House in Washington, September 4, 2019.

Donald Trump is tweeting more and it’s affecting the bond market.

In fact, the president’s market-moving tweets ballooned in August as he hammered China on trade and went after the Federal Reserve on interest rates.

In an attempt to quantify the impact of Trump’s tweets on the bond market, J.P. Morgan devised a “Volfefe Index” to analyze how the president’s tweets are influencing volatility in U.S. interest rates.

J.P. Morgan found that the index, named after Trump’s infamous and still mysterious “covfefe” tweet, explains a measurable fraction of the moves in implied rate volatility for 2-year and 5-year Treasurys.

“This makes rough sense as much of the president’s tweets have been focused on the Federal Reserve, and as trade tensions are broadly seen as, first and foremost, impactful on near-term economic performance and, likewise, the Fed’s reaction to such developments,” wrote the authors of the J.P. Morgan report.

Trump’s market-moving messages most often address trade and monetary policy, with key words including “China,” “billion” and “products.” These tweets are increasingly less likely to receive favorable responses, such as likes or retweets, from the president’s followers.


Company: cnbc, Activity: cnbc, Date: 2019-09-08  Authors: emma newburger
Keywords: news, cnbc, companies, index, tweets, volfefe, effect, morgan, volatility, reserve, marketmoving, trade, trump, trumps, financial, presidents, markets, track


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Dow futures fall more than 200 points after new US-China trade tariffs take effect

U.S. stock index futures were sharply lower Tuesday morning, after the world’s two largest economies began imposing new tariffs on one another’s goods. ET, Dow futures fell 234 points, indicating a negative open of more than 235 points. The U.S. imposed 15% tariffs on a variety of Chinese goods on Sunday, while China imposed new charges on U.S. products from September 1. The U.S. and China have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, batterin


U.S. stock index futures were sharply lower Tuesday morning, after the world’s two largest economies began imposing new tariffs on one another’s goods. ET, Dow futures fell 234 points, indicating a negative open of more than 235 points. The U.S. imposed 15% tariffs on a variety of Chinese goods on Sunday, while China imposed new charges on U.S. products from September 1. The U.S. and China have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, batterin
Dow futures fall more than 200 points after new US-China trade tariffs take effect Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: sam meredith
Keywords: news, cnbc, companies, points, futures, china, fall, dow, trade, effect, goods, uschina, latest, anothers, imposed, tariffs, 200, lower


Dow futures fall more than 200 points after new US-China trade tariffs take effect

U.S. stock index futures were sharply lower Tuesday morning, after the world’s two largest economies began imposing new tariffs on one another’s goods.

At around 03:20 a.m. ET, Dow futures fell 234 points, indicating a negative open of more than 235 points. Futures on the S&P and Nasdaq were both lower. The moves in pre-market trade come after investors observed a market holiday on Monday.

The U.S. imposed 15% tariffs on a variety of Chinese goods on Sunday, while China imposed new charges on U.S. products from September 1. It marked the latest escalation in their long-running trade war.

The U.S. and China have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.

President Donald Trump has said officials from both sides were still planning to meet later this month, despite rising tensions.

On Monday, Beijing filed a complaint against Washington at the World Trade Organization over U.S. import duties. China claimed the latest round of tariffs violated a consensus reached by leaders of both countries in Osaka, Japan.


Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: sam meredith
Keywords: news, cnbc, companies, points, futures, china, fall, dow, trade, effect, goods, uschina, latest, anothers, imposed, tariffs, 200, lower


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Asia stocks mixed as new US-China tariffs go into effect

Stocks in Asia were mixed on Monday as the latest round of U.S. and China tariffs kicked into effect over the weekend, while investors digested better-than-expected Chinese manufacturing data. Mainland Chinese shares jumped on the day, as the Shanghai composite added 1.31% to around 2,924.11 and the Shenzhen component was up 2.18% to 9,569.47. Over in Hong Kong, however, the Hang Seng index slipped 0.64%, as of its final hour of trading. Elsewhere, the Nikkei 225 in Japan shed 0.41% to close at


Stocks in Asia were mixed on Monday as the latest round of U.S. and China tariffs kicked into effect over the weekend, while investors digested better-than-expected Chinese manufacturing data. Mainland Chinese shares jumped on the day, as the Shanghai composite added 1.31% to around 2,924.11 and the Shenzhen component was up 2.18% to 9,569.47. Over in Hong Kong, however, the Hang Seng index slipped 0.64%, as of its final hour of trading. Elsewhere, the Nikkei 225 in Japan shed 0.41% to close at
Asia stocks mixed as new US-China tariffs go into effect Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: eustance huang
Keywords: news, cnbc, companies, trading, stocks, tariffs, uschina, effect, round, weekend, asia, statement, day, slipped, index, shenzhen, shares, mixed, infrastructure


Asia stocks mixed as new US-China tariffs go into effect

Stocks in Asia were mixed on Monday as the latest round of U.S. and China tariffs kicked into effect over the weekend, while investors digested better-than-expected Chinese manufacturing data.

Mainland Chinese shares jumped on the day, as the Shanghai composite added 1.31% to around 2,924.11 and the Shenzhen component was up 2.18% to 9,569.47. The Shenzhen composite also gained 2.259% to approximately 1,614.92.

The technology sector also got a boost from a Sunday statement about the importance of investing in the high-tech space, as the Chinext index soared 3.04% to about 1,944.42.

China’s State Council had announced more measures to support its economy on Sunday. In the statement, originally posted in Mandarin, it said that it attached “great importance” to the development of sectors such as infrastructure, high-tech, and the transformation of traditional industries.

Over in Hong Kong, however, the Hang Seng index slipped 0.64%, as of its final hour of trading. Tensions worsened in the beleaguered city, with another round of fresh protests that occurred over the weekend. Shares of railway operator MTR plunged more than 3%, with infrastructure at multiple stations being damaged in the past few days.

Elsewhere, the Nikkei 225 in Japan shed 0.41% to close at 20,620.19, while the Topix index also fell 0.44% to finish its trading day at 1,505.21. Over in South Korea, the Kospi ended its trading day in Seoul fractionally higher at 1,969.19. Australia’s S&P/ASX 200 slipped 0.38% to close at 6,579.40.

Overall, the MSCI Asia ex-Japan index fell 0.32%.


Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: eustance huang
Keywords: news, cnbc, companies, trading, stocks, tariffs, uschina, effect, round, weekend, asia, statement, day, slipped, index, shenzhen, shares, mixed, infrastructure


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Trump says trade talks still planned for September after China tariffs go into effect

President Donald Trump, U.S. President Donald Trump’s national security adviser John Bolton, U.S. Treasury Secretary Steven Mnuchin attend a working dinner with Chinese President Xi Jinping after the G20 leaders summit in Buenos Aires, Argentina December 1, 2018. President Donald Trump said trade talks with Beijing are still planned for September after a new round of tariffs went into effect on Sunday. Tariffs went into effect early Sunday on $112 billion of Chinese imports. Another round of U.S


President Donald Trump, U.S. President Donald Trump’s national security adviser John Bolton, U.S. Treasury Secretary Steven Mnuchin attend a working dinner with Chinese President Xi Jinping after the G20 leaders summit in Buenos Aires, Argentina December 1, 2018. President Donald Trump said trade talks with Beijing are still planned for September after a new round of tariffs went into effect on Sunday. Tariffs went into effect early Sunday on $112 billion of Chinese imports. Another round of U.S
Trump says trade talks still planned for September after China tariffs go into effect Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-01  Authors: spencer kimball
Keywords: news, cnbc, companies, trade, planned, tariffs, goods, talks, effect, round, billion, imports, donald, chinese, president, trump, china


Trump says trade talks still planned for September after China tariffs go into effect

President Donald Trump, U.S. President Donald Trump’s national security adviser John Bolton, U.S. Treasury Secretary Steven Mnuchin attend a working dinner with Chinese President Xi Jinping after the G20 leaders summit in Buenos Aires, Argentina December 1, 2018.

President Donald Trump said trade talks with Beijing are still planned for September after a new round of tariffs went into effect on Sunday.

“We are talking to China, the meetings in September, that hasn’t changed,” Trump told reporters Sunday on the White House South Lawn after returning from Camp David.

Tariffs went into effect early Sunday on $112 billion of Chinese imports. The 15% tariffs cover a wide range of consumer goods, including everything from certain types of clothing and shoes to some consumer electronics like cameras and desktop computers.

Beijing has started to impose retaliatory tariffs on some of the U.S. goods on its $75 billion target list.

Another round of U.S. tariffs on Chinese imports is set to go into effect Dec. 15. The goods targeted for that round include laptops and smartphones. In total, U.S. tariffs on Sept. 1 and Dec. 15 will hit $300 billion of Chinese imports.

The new tariffs could cost the average American household $1,000 a year, according to a J.P. Morgan estimate. More than 160 industry groups have written the president to voice their opposition to the tariffs.

Trump has slammed companies that oppose his trade policy as “badly run and weak,” saying they were using tariffs as an excuse for bad management.

Wall Street had a volatile August after Trump announced his plan to slap tariffs on Chinese imports. The S&P 500 posted 11 moves of more than 1% in 22 trading sessions for August. Those moves included three declines of at least 2.6% as well as the index’s worst day of the year on Aug. 5.

Investors are also increasingly concerned about an economic downturn after the bond market flashed a recession signal in August known as a yield curve inversion. That is when the yield on the 10-year Treasury note falls below the 2-year rate as investors dump stocks and pile into long-term U.S. debt, which is viewed as a safehaven.

— CNBC’s Yun Li and Fred Imbert contributed to this report


Company: cnbc, Activity: cnbc, Date: 2019-09-01  Authors: spencer kimball
Keywords: news, cnbc, companies, trade, planned, tariffs, goods, talks, effect, round, billion, imports, donald, chinese, president, trump, china


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Trump says tariffs on Chinese goods are still set to go into effect on Sunday

President Donald Trump on Friday said that tariffs on Chinese goods are still set to go into effect Sunday despite facing backlash from a number of companies. The U.S. government will begin collecting 15% tariffs on $112 billion in Chinese imports starting Sept. 1. Speaking to reporters before departing the White House Friday evening, Trump said a meeting on trade between U.S. and Chinese officials set for September was still scheduled. Trump also said U.S. officials are currently having convers


President Donald Trump on Friday said that tariffs on Chinese goods are still set to go into effect Sunday despite facing backlash from a number of companies. The U.S. government will begin collecting 15% tariffs on $112 billion in Chinese imports starting Sept. 1. Speaking to reporters before departing the White House Friday evening, Trump said a meeting on trade between U.S. and Chinese officials set for September was still scheduled. Trump also said U.S. officials are currently having convers
Trump says tariffs on Chinese goods are still set to go into effect on Sunday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: elizabeth myong, amanda macias, kevin breuninger
Keywords: news, cnbc, companies, effect, chinese, scheduled, trump, officials, president, tariffs, trade, set, tariff, goods


Trump says tariffs on Chinese goods are still set to go into effect on Sunday

President Donald Trump on Friday said that tariffs on Chinese goods are still set to go into effect Sunday despite facing backlash from a number of companies.

The U.S. government will begin collecting 15% tariffs on $112 billion in Chinese imports starting Sept. 1.

Speaking to reporters before departing the White House Friday evening, Trump said a meeting on trade between U.S. and Chinese officials set for September was still scheduled. Trump also said U.S. officials are currently having conversations with their Chinese counterparts on trade.

Chinese and U.S. trade negotiating teams are maintaining effective communication, China’s Foreign Ministry said on Friday.

The tariff war now involves hundreds of billions of dollars of each country’s goods and threatens global economic growth. Uncertainty about when or how it could end has roiled markets and complicated corporations’ long-term investment plans.

More than 160 industry groups have written a letter to the president, asking him to postpone the tariff increase on Chinese goods scheduled to take place this year.


Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: elizabeth myong, amanda macias, kevin breuninger
Keywords: news, cnbc, companies, effect, chinese, scheduled, trump, officials, president, tariffs, trade, set, tariff, goods


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Trump’s latest broadside on China raises fear that the trade war is the ‘new status quo’

The president’s announcement jolted markets, which had bounced back sharply off Wednesday’s disappointing Fed rate cut only to have their legs cut out from underneath by news of a heightened trade war. Trump’s move means that all Chinese goods entering the U.S. will be subject to some sort of duties. “The direct impact of these tariffs is smaller than a bread box,” said Bill Adams, senior economist at PNC. Indeed, if business surveys have been clear about anything it’s that American business is


The president’s announcement jolted markets, which had bounced back sharply off Wednesday’s disappointing Fed rate cut only to have their legs cut out from underneath by news of a heightened trade war. Trump’s move means that all Chinese goods entering the U.S. will be subject to some sort of duties. “The direct impact of these tariffs is smaller than a bread box,” said Bill Adams, senior economist at PNC. Indeed, if business surveys have been clear about anything it’s that American business is
Trump’s latest broadside on China raises fear that the trade war is the ‘new status quo’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: jeff cox
Keywords: news, cnbc, companies, latest, status, tariffs, broadside, effect, manufacturing, cut, fear, stanley, key, china, quo, goods, impact, trade, war, raises, trumps


Trump's latest broadside on China raises fear that the trade war is the 'new status quo'

The surprise tariffs President Donald Trump announced Thursday against $300 billion or so of Chinese goods takes the trade dispute between the two countries to a new level, even though in dollar terms it doesn’t amount to a whole lot.

The president’s announcement jolted markets, which had bounced back sharply off Wednesday’s disappointing Fed rate cut only to have their legs cut out from underneath by news of a heightened trade war.

Trump’s move means that all Chinese goods entering the U.S. will be subject to some sort of duties. While the actual price tag of the latest action is technically just $30 billion, or about 0.14 percentage points of GDP, the psychological damage that could be inflicted comes at an inopportune time.

“The direct impact of these tariffs is smaller than a bread box,” said Bill Adams, senior economist at PNC. “The larger effect is going to be through confidence channels and the effect on capital spending.”

Indeed, if business surveys have been clear about anything it’s that American business is nervous about trade. The closely watched Institute of Supply Management manufacturing survey dipped again in July and is teetering on contraction territory, while the Federal Reserve’s key manufacturing gauge has fallen for consecutive quarters.

Morgan Stanley strategists said the latest round of tariffs, if implemented, would contribute to “slowbalization,” or a continuation of lackluster growth, and could hasten a U.S. recession in as soon as three quarters.

“One key reason: about 68% of the next good tariffed will be consumer goods and autos/parts, with more potential for immediate impact to the economy,” Morgan Stanley strategist Michael Zezas said in a note.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: jeff cox
Keywords: news, cnbc, companies, latest, status, tariffs, broadside, effect, manufacturing, cut, fear, stanley, key, china, quo, goods, impact, trade, war, raises, trumps


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Trump’s public attacks have ‘no effect’ on Fed policy, Rosengren says

Eric Rosengren, president and chief executive officer of the Federal Reserve Bank of Boston at the Brookings Institution in Washington, D.C., on Jan. 8, 2018. President Donald Trump’s constant berating of the Federal Reserve and its actions does not influence the central bank’s decisions on monetary policy, Boston Fed President Eric Rosengren said Friday. “It has no effect on how I think about monetary policy,” Rosengren told CNBC’s Sara Eisen. Trump has criticized the Fed keeping interest rates


Eric Rosengren, president and chief executive officer of the Federal Reserve Bank of Boston at the Brookings Institution in Washington, D.C., on Jan. 8, 2018. President Donald Trump’s constant berating of the Federal Reserve and its actions does not influence the central bank’s decisions on monetary policy, Boston Fed President Eric Rosengren said Friday. “It has no effect on how I think about monetary policy,” Rosengren told CNBC’s Sara Eisen. Trump has criticized the Fed keeping interest rates
Trump’s public attacks have ‘no effect’ on Fed policy, Rosengren says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: fred imbert
Keywords: news, cnbc, companies, rates, interest, public, rosengren, reserve, federal, think, trumps, president, attacks, thought, fed, effect, policy


Trump's public attacks have 'no effect' on Fed policy, Rosengren says

Eric Rosengren, president and chief executive officer of the Federal Reserve Bank of Boston at the Brookings Institution in Washington, D.C., on Jan. 8, 2018.

President Donald Trump’s constant berating of the Federal Reserve and its actions does not influence the central bank’s decisions on monetary policy, Boston Fed President Eric Rosengren said Friday.

“It has no effect on how I think about monetary policy,” Rosengren told CNBC’s Sara Eisen. “And people are entitled to opinions. If we hear interesting and important facts that we haven’t thought about, we take that into consideration. And unless it’s data driven, it doesn’t have much of an influence on how I think about what we should be doing.”

Trump has criticized the Fed keeping interest rates at levels he thinks are too high. Earlier this month, he said the current level of Fed rates was “unnecessary,” adding that if the central bank would lower rates, “we’d be like a rocket ship.”

On Friday, he tweeted: “….Fed: There is almost no inflation!”

He also said in a July 19 tweet that: “Because of the faulty thought process we have going for us at the Federal Reserve, we pay much higher interest rates than countries that are no match for us economically. In other words, our interest costs are much higher than other countries, when they should be lower. Correct!”

But Rosengren said the tweets are not the subject of conversation in Fed meetings, noting: “I can’t recall them being mentioned at all.”

The Fed raised rates four times in 2018, the last of which contributed to a massive correction in December. Since then, the Fed has pivoted and has not hiked rates at all in 2019. In fact, the Fed is largely expected to cut rates by ate least 25 basis points later this month.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: fred imbert
Keywords: news, cnbc, companies, rates, interest, public, rosengren, reserve, federal, think, trumps, president, attacks, thought, fed, effect, policy


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Trump: If President Xi does not attend G-20, more China tariffs will go into effect immediately

Trump to CNBC: China will make a deal because ‘they’re going to…Trump’s remarks to CNBC came after the president sent a series of tweets touting the deal reached with Mexico that prevented the U.S. from imposing tariffs of 5% on all… Politicsread more


Trump to CNBC: China will make a deal because ‘they’re going to…Trump’s remarks to CNBC came after the president sent a series of tweets touting the deal reached with Mexico that prevented the U.S. from imposing tariffs of 5% on all… Politicsread more
Trump: If President Xi does not attend G-20, more China tariffs will go into effect immediately Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: michael sheetz
Keywords: news, cnbc, companies, china, tweets, immediately, does, effect, attend, g20, tariffs, xi, deal, trump, touting, totrumps, theyre, president, series, sent


Trump: If President Xi does not attend G-20, more China tariffs will go into effect immediately

Trump to CNBC: China will make a deal because ‘they’re going to…

Trump’s remarks to CNBC came after the president sent a series of tweets touting the deal reached with Mexico that prevented the U.S. from imposing tariffs of 5% on all…

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: michael sheetz
Keywords: news, cnbc, companies, china, tweets, immediately, does, effect, attend, g20, tariffs, xi, deal, trump, touting, totrumps, theyre, president, series, sent


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It’s not just Warren Buffett who’s bullish on post-Brexit Britain

Published Tuesday by UBS Global Wealth Management, the study polled more than 3,600 global investors and entrepreneurs with at least $1 million in investable assets. Drilling down into just the U.K. high net worth investors, which accounted for 338 of those surveyed, more than 60% said they felt optimistic about the U.K. economy over the next decade. Forty-one percent said they believed that Brexit would have a positive effect on the U.K. economy, while 35% said it would have an adverse effect.


Published Tuesday by UBS Global Wealth Management, the study polled more than 3,600 global investors and entrepreneurs with at least $1 million in investable assets. Drilling down into just the U.K. high net worth investors, which accounted for 338 of those surveyed, more than 60% said they felt optimistic about the U.K. economy over the next decade. Forty-one percent said they believed that Brexit would have a positive effect on the U.K. economy, while 35% said it would have an adverse effect.
It’s not just Warren Buffett who’s bullish on post-Brexit Britain Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: chloe taylor, alexander spatari, moment, getty images
Keywords: news, cnbc, companies, effect, brexit, global, bullish, investors, economy, company, britain, postbrexit, warren, uk, buffett, berkshire, whos, positive


It's not just Warren Buffett who's bullish on post-Brexit Britain

A majority of wealthy U.K.-based investors see an economic upside for the U.K. despite uncertainty surrounding its withdrawal from the EU, according to a new quarterly survey by UBS.

Published Tuesday by UBS Global Wealth Management, the study polled more than 3,600 global investors and entrepreneurs with at least $1 million in investable assets. Drilling down into just the U.K. high net worth investors, which accounted for 338 of those surveyed, more than 60% said they felt optimistic about the U.K. economy over the next decade. Meanwhile, 44% had a positive outlook for the next 12 months.

Forty-one percent said they believed that Brexit would have a positive effect on the U.K. economy, while 35% said it would have an adverse effect. The remaining 24% of investors believed Brexit would have a neutral impact on the economy.

One prominent individual who has also expressed bullishness on Britain is billionaire investor Warren Buffett. Speaking at the Berkshire Hathaway annual shareholders’ meeting in Omaha, Nebraska over the weekend, Buffett — the firm’s chairman and CEO — said the company would “love to put more money into the U.K.”

“If I get a call tomorrow and somebody says I’ve got an X billion-pound company that I think might make sense for you to own, and that I would actually like to have as part of Berkshire, I’ll get on the plane and be over there,” he said.

“We’re hoping for a deal in the U.K. or in Europe no matter how Brexit comes out,” Buffett added. “I’m not an Englishman, but I have a feeling it was a mistake to vote to leave … but it doesn’t destroy my appetite in the least for making a very large acquisition in the U.K.”


Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: chloe taylor, alexander spatari, moment, getty images
Keywords: news, cnbc, companies, effect, brexit, global, bullish, investors, economy, company, britain, postbrexit, warren, uk, buffett, berkshire, whos, positive


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