European stocks edge lower as US-China talks hit stalemate; Germany avoids technical recession

European stocks traded slightly lower Thursday morning as trade negotiations between the U.S. and China are understood to have hit a roadblock. The pan-European Stoxx 600 edged 0.15% below the flatline, with autos slipping 1.5% to lead losses while food and beverages added 0.4%. Just one month after agreeing in principle on the so-called phase one of a trade deal, the world’s two largest economies have reached a stalemate in negotiations. Asian stocks were mixed during Thursday afternoon trade a


European stocks traded slightly lower Thursday morning as trade negotiations between the U.S. and China are understood to have hit a roadblock.
The pan-European Stoxx 600 edged 0.15% below the flatline, with autos slipping 1.5% to lead losses while food and beverages added 0.4%.
Just one month after agreeing in principle on the so-called phase one of a trade deal, the world’s two largest economies have reached a stalemate in negotiations.
Asian stocks were mixed during Thursday afternoon trade a
European stocks edge lower as US-China talks hit stalemate; Germany avoids technical recession Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: elliot smith
Keywords: news, cnbc, companies, gdp, uschina, stalemate, party, china, technical, european, conservative, chinese, domestic, lower, lead, hit, trade, talks, germany, stocks, recession


European stocks edge lower as US-China talks hit stalemate; Germany avoids technical recession

European stocks traded slightly lower Thursday morning as trade negotiations between the U.S. and China are understood to have hit a roadblock.

The pan-European Stoxx 600 edged 0.15% below the flatline, with autos slipping 1.5% to lead losses while food and beverages added 0.4%.

Just one month after agreeing in principle on the so-called phase one of a trade deal, the world’s two largest economies have reached a stalemate in negotiations.

The U.S. is seeking stronger concessions from China on intellectual property protections and a cessation of forced technology transfer in exchange for rolling back tariffs on Chinese goods, CNBC’s Kayla Tausche reported Wednesday, citing sources familiar with the matter.

Asian stocks were mixed during Thursday afternoon trade as Chinese industrial production data missed expectations.

Stateside, focus turned to the impeachment inquiry into President Donald Trump, with the first televised hearing linking the U.S. leader directly to efforts to pressurize Ukraine into announcing an investigation into his domestic political rival.

Back in Europe, German GDP (gross domestic product) grew by 0.1% in the third quarter, exceeding the -0.1% contraction expected and narrowly avoiding a technical recession. Second-quarter GDP growth was revised down from -0.1% to -0.2%.

Meanwhile a poll by Savanta ComRes on Wednesday suggested that British Prime Minister Boris Johnson’s ruling Conservative party established a 10-point lead over the main opposition Labour party ahead of the U.K.’s December 12 election, after the Brexit Party stood down candidates in Conservative seats.


Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: elliot smith
Keywords: news, cnbc, companies, gdp, uschina, stalemate, party, china, technical, european, conservative, chinese, domestic, lower, lead, hit, trade, talks, germany, stocks, recession


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Monetary policy should not be designed for banks, BNP Paribas chairman says

In an era of negative interest rates in Europe, monetary policy should not be geared towards appeasing the banking sector, BNP Paribas Chairman Jean Lemierre has said. European banking chiefs have long bemoaned long-term low and negative interest rates as placing a burdensome squeeze on lenders’ profits, but Lemierre insisted it is the role of banks to adapt to a changing monetary environment. “It is not easy, but our job is to adapt and monetary policy shouldn’t be designed for banks,” Lemierre


In an era of negative interest rates in Europe, monetary policy should not be geared towards appeasing the banking sector, BNP Paribas Chairman Jean Lemierre has said.
European banking chiefs have long bemoaned long-term low and negative interest rates as placing a burdensome squeeze on lenders’ profits, but Lemierre insisted it is the role of banks to adapt to a changing monetary environment.
“It is not easy, but our job is to adapt and monetary policy shouldn’t be designed for banks,” Lemierre
Monetary policy should not be designed for banks, BNP Paribas chairman says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: elliot smith
Keywords: news, cnbc, companies, need, policy, designed, paribas, chairman, lenders, interest, sector, bnp, rates, banks, negative, banking, monetary, lemierre


Monetary policy should not be designed for banks, BNP Paribas chairman says

In an era of negative interest rates in Europe, monetary policy should not be geared towards appeasing the banking sector, BNP Paribas Chairman Jean Lemierre has said.

Speaking to CNBC’s Annette Weisbach at the BNP Conference in London on Thursday, Lemierre said the ECB (European Central Bank) was moving in the right direction with its latest rate cut and substantial bond buying package, but “can’t be alone” in efforts to stimulate the European economy.

European banking chiefs have long bemoaned long-term low and negative interest rates as placing a burdensome squeeze on lenders’ profits, but Lemierre insisted it is the role of banks to adapt to a changing monetary environment.

“It is not easy, but our job is to adapt and monetary policy shouldn’t be designed for banks,” Lemierre said, adding that lenders should have the “appropriate business model in this environment by product and by region.”

“We need to reduce costs and we need to move more digital,” he suggested. “The banking sector should not be a toll on the economy, but a support to the economy.”


Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: elliot smith
Keywords: news, cnbc, companies, need, policy, designed, paribas, chairman, lenders, interest, sector, bnp, rates, banks, negative, banking, monetary, lemierre


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European stocks lower as US-China trade concerns resurface; Tullow Oil down 18%

European stocks traded lower on Wednesday amid concern that U.S.-China trade talks are stalling, while escalating unrest in Hong Kong looked set to blight the handover from Asia. The pan-European Stoxx 600 slipped 0.3% at the opening bell, with bank stocks falling 1.4% while the food and beverages sector bucked the trend to climb 0.3%. U.S. President Donald Trump on Tuesday claimed that the initial phase of a trade deal between the world’s two largest economies would be completed “soon” but offe


European stocks traded lower on Wednesday amid concern that U.S.-China trade talks are stalling, while escalating unrest in Hong Kong looked set to blight the handover from Asia.
The pan-European Stoxx 600 slipped 0.3% at the opening bell, with bank stocks falling 1.4% while the food and beverages sector bucked the trend to climb 0.3%.
U.S. President Donald Trump on Tuesday claimed that the initial phase of a trade deal between the world’s two largest economies would be completed “soon” but offe
European stocks lower as US-China trade concerns resurface; Tullow Oil down 18% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: elliot smith
Keywords: news, cnbc, companies, banks, uschina, trade, european, data, tullow, oil, concerns, set, economies, zone, worlds, lower, stocks, resurface, falling


European stocks lower as US-China trade concerns resurface; Tullow Oil down 18%

European stocks traded lower on Wednesday amid concern that U.S.-China trade talks are stalling, while escalating unrest in Hong Kong looked set to blight the handover from Asia.

The pan-European Stoxx 600 slipped 0.3% at the opening bell, with bank stocks falling 1.4% while the food and beverages sector bucked the trend to climb 0.3%.

U.S. President Donald Trump on Tuesday claimed that the initial phase of a trade deal between the world’s two largest economies would be completed “soon” but offered no new details while branding China “cheaters.”

Hong Kong’s Hang Seng index led overnight losses in Asia, falling 1.76% after political tumult continued to paralyze the city following violent escalations earlier this week.

Back in Europe, ECB data showed that banks in Italy and other peripheral euro zone economies are capitalizing on the central bank’s bonus rate to seize tens of billions of euros from northern European rivals in Germany and the Netherlands, Reuters reported on Tuesday.

On the data front, a host of U.K. inflation figures for October are set for release at 9:30 a.m. London time.


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: elliot smith
Keywords: news, cnbc, companies, banks, uschina, trade, european, data, tullow, oil, concerns, set, economies, zone, worlds, lower, stocks, resurface, falling


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European stocks cautiously higher amid hopes US will delay EU auto tariffs; Iliad soars 18%

European stocks traded cautiously higher on Tuesday morning after r eports suggested U.S. President Donald Trump is expected to delay a decision on whether to impose tariffs on EU autos by six months. The pan-European Stoxx 600 rose by around 0.1% in early trade, with basic resources climbing 0.6% to lead gains while retail stocks slipped 0.4% lower. Market sentiment has been lifted slightly after reports that President Trump would announce a delay to EU auto tariffs this week, potentially avert


European stocks traded cautiously higher on Tuesday morning after r eports suggested U.S. President Donald Trump is expected to delay a decision on whether to impose tariffs on EU autos by six months.
The pan-European Stoxx 600 rose by around 0.1% in early trade, with basic resources climbing 0.6% to lead gains while retail stocks slipped 0.4% lower.
Market sentiment has been lifted slightly after reports that President Trump would announce a delay to EU auto tariffs this week, potentially avert
European stocks cautiously higher amid hopes US will delay EU auto tariffs; Iliad soars 18% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: elliot smith
Keywords: news, cnbc, companies, hong, iliad, higher, hopes, soars, party, prime, trump, stocks, president, tariffs, cautiously, delay, european, election, trade


European stocks cautiously higher amid hopes US will delay EU auto tariffs; Iliad soars 18%

European stocks traded cautiously higher on Tuesday morning after r eports suggested U.S. President Donald Trump is expected to delay a decision on whether to impose tariffs on EU autos by six months.

The pan-European Stoxx 600 rose by around 0.1% in early trade, with basic resources climbing 0.6% to lead gains while retail stocks slipped 0.4% lower.

Market sentiment has been lifted slightly after reports that President Trump would announce a delay to EU auto tariffs this week, potentially averting another damaging dispute with a major U.S. trading partner.

Stocks in Asia were mixed on Tuesday afternoon as concerns over the state of U.S.-China trade discussions and an escalation of violence in Hong Kong weighed on markets.

Investors continue to await direction on trade talks between Washington and Beijing after President Trump on Friday denied claims by the Chinese Commerce Ministry that the two sides had agreed to roll back existing tariffs on each other’s goods.

Back in Europe, the upcoming British general election took a turn after Brexit Party leader Nigel Farage agreed for his party to stand aside in 317 seats held by Prime Minister Boris Johnson’s ruling Conservative party, in a bid to prevent anti-Brexit lawmakers winning control of parliament. Sterling rallied on the news as investors anticipate that the move will seal an election victory for the prime minister.

In corporate news, Hong Kong’s securities regulator announced Monday that it has fined Swiss lender UBS $51.09 million for overcharging up to 5,000 clients for nearly a decade.


Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: elliot smith
Keywords: news, cnbc, companies, hong, iliad, higher, hopes, soars, party, prime, trump, stocks, president, tariffs, cautiously, delay, european, election, trade


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European stocks lower on dampened trade hopes, Hong Kong escalations

European stocks traded lower Monday morning amid a dampening of optimism over U.S.-China trade, after U.S. President Donald Trump denied that he had agreed to roll back tariffs on Chinese goods. The pan-European Stoxx 600 was down around 0.2% in morning trade, with basic resources shedding 1.9% as most sectors and major bourses traded in the red. Hopes of trade progress rose on Thursday when China’s Commerce Ministry said Beijing and Washington had agreed to lift existing tariffs on one another’


European stocks traded lower Monday morning amid a dampening of optimism over U.S.-China trade, after U.S. President Donald Trump denied that he had agreed to roll back tariffs on Chinese goods.
The pan-European Stoxx 600 was down around 0.2% in morning trade, with basic resources shedding 1.9% as most sectors and major bourses traded in the red.
Hopes of trade progress rose on Thursday when China’s Commerce Ministry said Beijing and Washington had agreed to lift existing tariffs on one another’
European stocks lower on dampened trade hopes, Hong Kong escalations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: elliot smith
Keywords: news, cnbc, companies, trump, escalations, trade, lower, vox, hong, traded, morning, dampened, tariffs, week, stocks, washington, kong, european, agreed, hopes


European stocks lower on dampened trade hopes, Hong Kong escalations

European stocks traded lower Monday morning amid a dampening of optimism over U.S.-China trade, after U.S. President Donald Trump denied that he had agreed to roll back tariffs on Chinese goods.

The pan-European Stoxx 600 was down around 0.2% in morning trade, with basic resources shedding 1.9% as most sectors and major bourses traded in the red. Healthcare stocks bucked the trend to gain 0.4%.

Hopes of trade progress rose on Thursday when China’s Commerce Ministry said Beijing and Washington had agreed to lift existing tariffs on one another’s goods, but Trump on Friday said he had not agreed to any rollbacks.

Asian markets fell on Monday afternoon with Hong Kong’s Hang Seng index tumbling more than 2% after political tensions flared up in the city once again. Protesters were injured after local police opened fire with live rounds, while a group of pro-democracy lawmakers was arrested in the city.

Back in Europe, Spanish Prime Minister Pedro Sánchez’s Socialists emerged victorious in the country’s second parliamentary election of the year, but the far-right Vox party doubled its seats, setting the stage for difficult government discussions.

A survey released Monday showed British employers’ hiring plans have climbed off an 18-month low, indicating a slightly more upbeat picture of the labor market than that which caused two Bank of England policymakers to advocate for a cut to interest rates last week.


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: elliot smith
Keywords: news, cnbc, companies, trump, escalations, trade, lower, vox, hong, traded, morning, dampened, tariffs, week, stocks, washington, kong, european, agreed, hopes


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The Middle East is launching a new oil benchmark to rival WTI and Brent

UAE Minister of State and ADNOC Group CEO, Sultan Ahmed al-Jaber, speaks during the Abu Dhabi International Petroleum Exhibion and Conference (ADIPEC) on November 13, 2017, at the Abu Dhabi National Exhibition Centre. The Abu Dhabi National Oil Company (Adnoc) and nine of the world’s largest energy traders have partnered with the Intercontinental Exchange (ICE) to set up the world’s first Murban crude oil futures contracts. ICE Futures Abu Dhabi (IFAD) and ICE Murban futures are slated for launc


UAE Minister of State and ADNOC Group CEO, Sultan Ahmed al-Jaber, speaks during the Abu Dhabi International Petroleum Exhibion and Conference (ADIPEC) on November 13, 2017, at the Abu Dhabi National Exhibition Centre.
The Abu Dhabi National Oil Company (Adnoc) and nine of the world’s largest energy traders have partnered with the Intercontinental Exchange (ICE) to set up the world’s first Murban crude oil futures contracts.
ICE Futures Abu Dhabi (IFAD) and ICE Murban futures are slated for launc
The Middle East is launching a new oil benchmark to rival WTI and Brent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: elliot smith
Keywords: news, cnbc, companies, launching, pricing, east, brent, murban, wti, rival, oil, futures, abu, dhabi, crude, adnoc, exchange, uae, benchmark, middle


The Middle East is launching a new oil benchmark to rival WTI and Brent

UAE Minister of State and ADNOC Group CEO, Sultan Ahmed al-Jaber, speaks during the Abu Dhabi International Petroleum Exhibion and Conference (ADIPEC) on November 13, 2017, at the Abu Dhabi National Exhibition Centre.

The Abu Dhabi National Oil Company (Adnoc) and nine of the world’s largest energy traders have partnered with the Intercontinental Exchange (ICE) to set up the world’s first Murban crude oil futures contracts.

ICE Futures Abu Dhabi (IFAD) and ICE Murban futures are slated for launch in early 2020, subject to regulatory approvals, and will seek to rival well-established light crude oil benchmarks WTI and Brent.

Among the companies joining state-owned Adnoc, which produces around 1.7 million barrels of Murban crude daily, to take stakes in the new oil bourse are energy behemoths BP, Shell, Total, PetroChina and Vitol.

Murban is a light crude grade, a substantial proportion of which is exported from Fujairah via the Gulf of Oman, with Abu Dhabi’s overall production currently standing at around 3 million barrels a day.

Adnoc Group CEO and UAE Minister of State Sultan Ahmed Al Jaber said in a statement Monday that “having a new, independent exchange in Abu Dhabi will not only benefit the UAE, but also physical and financial oil traders around the world.”

IFAD will also be competing with the Dubai/Oman benchmark, operated by Dubai Mercantile Exchange (DME).

The development could shake up the pricing of oil in the region. While most Middle Eastern oil producers use rates in the futures market as a basis for oil pricing, Adnoc has historically priced retroactively.

“The futurization of Murban cargoes will act as a boon for buyers because it will allow them to know what they are paying in advance,” Stephen Brennock, oil analyst at PVM Oil Associates, told CNBC on Monday.

“This is in contrast to the current retroactive pricing mechanism. What is more, buyers should now benefit from more hedging opportunities in the future markets.”


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: elliot smith
Keywords: news, cnbc, companies, launching, pricing, east, brent, murban, wti, rival, oil, futures, abu, dhabi, crude, adnoc, exchange, uae, benchmark, middle


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European stocks higher on China-US trade optimism

European shares traded higher Thursday morning, having touched a four-year high early in the session after China said the world’s two largest economies had agreed to cancel additional tariffs imposed in their months-long trade war. Commerce ministry spokesman Gao Feng said that the cancellation would be important for the two sides to reach a “phase one” trade deal, Reuters reported. Sources told Reuters on Wednesday that the signing of the long-awaited “phase one” deal could be delayed until Dec


European shares traded higher Thursday morning, having touched a four-year high early in the session after China said the world’s two largest economies had agreed to cancel additional tariffs imposed in their months-long trade war.
Commerce ministry spokesman Gao Feng said that the cancellation would be important for the two sides to reach a “phase one” trade deal, Reuters reported.
Sources told Reuters on Wednesday that the signing of the long-awaited “phase one” deal could be delayed until Dec
European stocks higher on China-US trade optimism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith chloe taylor, elliot smith, chloe taylor
Keywords: news, cnbc, companies, traded, higher, optimism, bank, rates, having, european, stocks, reports, mpc, chinaus, deal, shares, phase, trade


European stocks higher on China-US trade optimism

European shares traded higher Thursday morning, having touched a four-year high early in the session after China said the world’s two largest economies had agreed to cancel additional tariffs imposed in their months-long trade war.

The pan-European Stoxx 600 was up 0.25% by late morning, slightly paring earlier gains which saw the European blue chip index hit its highest point since July 2015. Bank stocks jumped 1.3% to lead gains while utilities slid 1.1%.

China’s Commerce Ministry said Thursday that Washington and Beijing had over the past two weeks agreed to a phased removal of duties on billions of dollars’ worth of each other’s goods.

Commerce ministry spokesman Gao Feng said that the cancellation would be important for the two sides to reach a “phase one” trade deal, Reuters reported.

Sources told Reuters on Wednesday that the signing of the long-awaited “phase one” deal could be delayed until December. Investors had been hoping that the preliminary deal, which could lift some pressure from the global economy, may be signed as early as this month.

According to reports, the location of a meeting where U.S. President Donald Trump and Chinese leader Xi Jinping would sign the deal has added an obstacle to proceedings. Reuters said Wednesday that London was now being floated as a possible venue.

Asian shares traded in mixed territory Thursday on the back of the earlier reports. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, dipped 0.3%, with many of the region’s indexes hovering around the flatline.

Back in Europe, the EU trimmed its 2019 growth forecasts for the euro zone, projecting that GDP (gross domestic product) for the 19-member area will grow by 1.1% in 2019, having forecast 1.2% growth in July.

The Bank of England’s Monetary Policy Committee (MPC) is set to make a decision on interest rates on Thursday. The central bank is widely expected to keep rates steady ahead of the U.K.’s general election in December, having held rates at its last MPC meeting in September, bucking the rate-cutting trend seen among central banks globally.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith chloe taylor, elliot smith, chloe taylor
Keywords: news, cnbc, companies, traded, higher, optimism, bank, rates, having, european, stocks, reports, mpc, chinaus, deal, shares, phase, trade


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Passing USMCA by Thanksgiving would be a ‘linchpin’ for global trade, former Trump aide says

Congress must approve the United States-Mexico-Canada (USMCA) trade agreement in order to provide a linchpin for global trade discussions, according to Rick Dearborn, the former White House deputy chief of staff for policy. Republican lawmakers have been ramping up public pressure on Democratic House Speaker Nancy Pelosi to approve the deal, a replacement for NAFTA (North American Free Trade Agreement). “I think USMCA is the linchpin to every other agreement that is going to come down the road,”


Congress must approve the United States-Mexico-Canada (USMCA) trade agreement in order to provide a linchpin for global trade discussions, according to Rick Dearborn, the former White House deputy chief of staff for policy.
Republican lawmakers have been ramping up public pressure on Democratic House Speaker Nancy Pelosi to approve the deal, a replacement for NAFTA (North American Free Trade Agreement).
“I think USMCA is the linchpin to every other agreement that is going to come down the road,”
Passing USMCA by Thanksgiving would be a ‘linchpin’ for global trade, former Trump aide says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith
Keywords: news, cnbc, companies, thanksgiving, usmca, dearborn, trade, aide, think, global, going, deal, passing, forward, phase, good, trump, house, linchpin


Passing USMCA by Thanksgiving would be a 'linchpin' for global trade, former Trump aide says

Congress must approve the United States-Mexico-Canada (USMCA) trade agreement in order to provide a linchpin for global trade discussions, according to Rick Dearborn, the former White House deputy chief of staff for policy. With fewer than 10 legislative days left until Thanksgiving, Dearborn, who now serves as executive director for the cross-party Pass USMCA Coalition, said that with impeachment proceedings likely to impact the schedule, the House was running out of time to pass the bipartisan legislation. Republican lawmakers have been ramping up public pressure on Democratic House Speaker Nancy Pelosi to approve the deal, a replacement for NAFTA (North American Free Trade Agreement). Democrats have been pushing for assurances from Mexico on labor reforms and enforcement, and U.S. Trade Representative Robert Lighthizer has been meeting frequently with Pelosi and the nine-member USMCA Working Group to iron out the fine print on the deal. “I’m hearing really good news, good traction, the meetings have been going well, and the Mexican government has really leaned forward into this,” Dearborn, who left the Donald Trump administration in March 2018, told CNBC via telephone Wednesday, adding that he is optimistic that the deal will get over the line in the coming weeks.

House Ways and Means Committee Chairman Rep. Richard Neal, who heads up the USMCA Working Group, traveled to Ottawa on Wednesday to discuss lingering concerns with Canadian Prime Minister Justin Trudeau and Foreign Affairs Minister Chrystia Freeland. Mexico has ratified the deal in congress, while Canada and the U.S. have yet to do so. “I think USMCA is the linchpin to every other agreement that is going to come down the road,” Dearborn told CNBC. “We get USMCA done, it makes it easier to not only finish this phase one on China, but then move forward on phase two. We’ve already moved forward on phase one with Japan, it helps us move forward on phase two with Japan.” He added that passing the deal will enable the Office of the U.S. Trade Representative to turn some of its attention to potential U.S.-U.K. trade discussions, adding that further talks with the Philippines, Vietnam, Kenya and others could also move forward.

Playing politics

Vice President Mike Pence has recently appeared in 18 states, including a number of Democratic districts which voted for Trump, to criticize Democrats for not moving fast enough to get the USMCA to a vote. Asked if such actions undermined the bipartisan spirit of efforts to ratify the deal, Dearborn said politics were being played “on both sides” but suggested the Democratic caucus was working “in good faith” with White House trade officials. “I think that these freshmen members, especially in Trump districts, are going to need something beyond just investigations and oversight and impeachment to hang their hat on,” Dearborn said. “(Pence) is probably picking districts that make sense because those are going to be districts that both Republicans and Democrats are going to be fighting over in 2020, but I’ll leave it to others to determine whether it’s counterproductive — I think he’s going out there trying to make the case.” The passage of USMCA would likely be framed as a big bipartisan legislative win for both parties, as it enables the president to deliver on a key 2016 campaign promise while enacting the labor reform concessions insisted upon by Democratic leadership. “I do think USMCA is the best example of a bipartisan effort with both sides really in earnest trying to get to a good conclusion, so I’m much more optimistic about this effort than I am other pieces of legislation that might be out there,” Dearborn added.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith
Keywords: news, cnbc, companies, thanksgiving, usmca, dearborn, trade, aide, think, global, going, deal, passing, forward, phase, good, trump, house, linchpin


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Siemens posts profit beat but strikes gloomy tone

Siemens on Thursday posted industrial operating profit of 2.64 billion euros ($2.92 billion) for its fourth quarter, beating analyst expectations of 2.33 billion euros. The figure represents a 20% rise in the three months to the end of September on the back of a substantial increase in large orders. Nevertheless, we were again able to underscore Siemens’ performance aspiration with a brilliant fourth quarter,” Siemens CEO Joe Kaeser said in the earnings report. Revenue for the company’s fourth q


Siemens on Thursday posted industrial operating profit of 2.64 billion euros ($2.92 billion) for its fourth quarter, beating analyst expectations of 2.33 billion euros.
The figure represents a 20% rise in the three months to the end of September on the back of a substantial increase in large orders.
Nevertheless, we were again able to underscore Siemens’ performance aspiration with a brilliant fourth quarter,” Siemens CEO Joe Kaeser said in the earnings report.
Revenue for the company’s fourth q
Siemens posts profit beat but strikes gloomy tone Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith
Keywords: news, cnbc, companies, really, tone, profit, weakening, kaeser, strikes, 2020, gloomy, siemens, billion, target, suggested, beat, fourth, posts, quarter


Siemens posts profit beat but strikes gloomy tone

Siemens on Thursday posted industrial operating profit of 2.64 billion euros ($2.92 billion) for its fourth quarter, beating analyst expectations of 2.33 billion euros.

The figure represents a 20% rise in the three months to the end of September on the back of a substantial increase in large orders.

However, the German conglomerate offered a cautious tone for 2020, warning of an expected weakening in the global economy over the next 12 months and projecting a slowdown for its short-cycle automotive and machinery products.

“The weakening of the global economy accelerated clearly during fiscal 2019. Nevertheless, we were again able to underscore Siemens’ performance aspiration with a brilliant fourth quarter,” Siemens CEO Joe Kaeser said in the earnings report.

“We fully achieved our fiscal-year guidance in all aspects! Our Vision 2020+ strategic concept is beginning to get traction.”

Revenue for the company’s fourth quarter came in at 24.5 billion euros, an 8% increase year-on-year, while orders rose 4% to 24.7 billion euros.

Speaking to CNBC’s “Squawk Box Europe” Thursday morning, Kaeser said political leadership was “going backwards” by shifting trade and economic policy towards nationalization and protectionism, but suggested that international powerhouses like Siemens were “one notch above territorial boundaries.”

“We can allocate resources at any given point in time, so I am rather optimistic that exactly those companies who are so widely localized will actually be the ones who can get over these geopolitical matters.”

Despite the prospect of the U.S. pulling out of the Paris Climate Accord, Kaeser said his customers stateside, from oil and gas and automotive companies to hospitals, were all concerned about reducing emissions.

“As much as I welcome and admire activities from young people, children at times, that really shake up society, that really take charge of their own future, this is only a diagnostics matter,” he said.

“If you only have diagnostics, you are not going to get healthy, we need to have the cure. You need to have somebody who takes actions to bring down emissions and that is exactly what we do.”

Kaeser added that the company is expecting in the next fiscal year to declare success on its target set four years ago for a 50% reduction in emissions by 2020, and suggested Siemens may bring forward its target of reaching CO2 neutrality by 2030.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith
Keywords: news, cnbc, companies, really, tone, profit, weakening, kaeser, strikes, 2020, gloomy, siemens, billion, target, suggested, beat, fourth, posts, quarter


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US futures point to a mixed open

U.S. stock index futures were mixed Wednesday morning after the Dow Jones Industrial Average posted a fresh record close on Tuesday. ET, Dow futures were down four points point and implied a negative open of more than six points. Futures on the S&P 500 were seen fractionally lower while the Nasdaq was seen slightly higher. The Dow inched 0.1% higher to close at another new record on Tuesday, its third consecutive day of gains. CVS Health is set to publish earnings before the bell Wednesday Wynn


U.S. stock index futures were mixed Wednesday morning after the Dow Jones Industrial Average posted a fresh record close on Tuesday.
ET, Dow futures were down four points point and implied a negative open of more than six points.
Futures on the S&P 500 were seen fractionally lower while the Nasdaq was seen slightly higher.
The Dow inched 0.1% higher to close at another new record on Tuesday, its third consecutive day of gains.
CVS Health is set to publish earnings before the bell Wednesday Wynn
US futures point to a mixed open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: elliot smith
Keywords: news, cnbc, companies, futures, open, points, report, point, data, seen, record, dow, earnings, close, mixed


US futures point to a mixed open

U.S. stock index futures were mixed Wednesday morning after the Dow Jones Industrial Average posted a fresh record close on Tuesday.

At around 02:05 a.m. ET, Dow futures were down four points point and implied a negative open of more than six points. Futures on the S&P 500 were seen fractionally lower while the Nasdaq was seen slightly higher.

The Dow inched 0.1% higher to close at another new record on Tuesday, its third consecutive day of gains.

Investors are waiting for signals on an easing of the protracted trade dispute between the U.S. and China.

The two sides are working toward a “phase one” deal, with China pushing for U.S. President Donald Trump to remove more tariffs imposed in September on around $125 billion worth of Chinese goods, according to reports.

On the data front, nonfarm productivity figures and unit labor costs for the third quarter are due for publication at 9:30 a.m. ET.

Corporate earnings season remains in focus, with FactSet data indicating that 75% of S&P 500 companies to report thus far have topped analyst expectations.

CVS Health is set to publish earnings before the bell Wednesday Wynn Resorts reporting in the afternoon. Qualcomm, Expedia, TripAdvisor, Fox Corp and Papa John’s are among those due to report after the bell.


Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: elliot smith
Keywords: news, cnbc, companies, futures, open, points, report, point, data, seen, record, dow, earnings, close, mixed


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