Asia markets: China trade data, US-China, currencies trade in focus

China reported notably weaker than expected November exports and imports, which pointed to slower global and domestic demand and raised the possibility that Beijing may undertake more measures to boost growth. The customs data showed that annual growth for exports to all of China’s major partners slowed significantly. “China’s November trade data missed expectations by a hefty margin,” said analysts from the Commonwealth Bank of Australia in a morning note. “Softer export growth reflects slower


China reported notably weaker than expected November exports and imports, which pointed to slower global and domestic demand and raised the possibility that Beijing may undertake more measures to boost growth. The customs data showed that annual growth for exports to all of China’s major partners slowed significantly. “China’s November trade data missed expectations by a hefty margin,” said analysts from the Commonwealth Bank of Australia in a morning note. “Softer export growth reflects slower
Asia markets: China trade data, US-China, currencies trade in focus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: eustance huang
Keywords: news, cnbc, companies, currencies, imports, asia, markets, poll, china, demand, slower, data, trade, domestic, expected, exports, uschina, global, growth, focus


Asia markets: China trade data, US-China, currencies trade in focus

China reported notably weaker than expected November exports and imports, which pointed to slower global and domestic demand and raised the possibility that Beijing may undertake more measures to boost growth.

November exports rose 5.4 percent from a year earlier, according to Chinese customs data on Saturday, which was below the 10 percent jump predicted by a Reuters poll. That number was also the weakest performance since a 3 percent contraction in March. The customs data showed that annual growth for exports to all of China’s major partners slowed significantly.

Import growth was 3 percent, the slowest since October 2016, and a fraction of the 14.5 percent expected in the Reuters poll. Imports of iron ore fell for a second time, reflecting waning restocking demand at steel-mills as profit margins narrow.

“China’s November trade data missed expectations by a hefty margin,” said analysts from the Commonwealth Bank of Australia in a morning note.

“Softer export growth reflects slower global growth and the fading effect of US importers’ front‑loading shipments to avoid increases in tariffs. Falling import growth points to softening domestic demand. But we expect Chinese fiscal stimulus to support imports in 2019,” they said.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: eustance huang
Keywords: news, cnbc, companies, currencies, imports, asia, markets, poll, china, demand, slower, data, trade, domestic, expected, exports, uschina, global, growth, focus


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France riots: Macron expected to promise economic change but is it too late?

One coordinator of the “yellow vest” protests, Thierry Paul Valette, told reporters on Saturday that Macron’s announcement would be too little, too late. It’s too late, the game is set and those people will stay on the streets.” In the fourth weekend of demonstrations on Saturday, around 125,000 were estimated to have protested around France. In Paris, 10,000 demonstrators were believed to have taken to the streets with some throwing stones, torching cars and vandalizing shops and restaurants. A


One coordinator of the “yellow vest” protests, Thierry Paul Valette, told reporters on Saturday that Macron’s announcement would be too little, too late. It’s too late, the game is set and those people will stay on the streets.” In the fourth weekend of demonstrations on Saturday, around 125,000 were estimated to have protested around France. In Paris, 10,000 demonstrators were believed to have taken to the streets with some throwing stones, torching cars and vandalizing shops and restaurants. A
France riots: Macron expected to promise economic change but is it too late? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: holly ellyatt, celestino arce, nurphoto, getty images, benoit tessier
Keywords: news, cnbc, companies, macron, france, economic, late, wouldnt, lot, promise, riots, yellow, political, expected, went, protests, told, change, taken


France riots: Macron expected to promise economic change but is it too late?

One coordinator of the “yellow vest” protests, Thierry Paul Valette, told reporters on Saturday that Macron’s announcement would be too little, too late.

“(Macron) must provide answers. They are late, unfortunately, they are late and the reality is that when he presents these measures some yellow vests will go home as they will be satisfied, but right now there are a lot of people who simply want the president to resign. It’s too late, the game is set and those people will stay on the streets.”

The government had already said that it would delay planned fuel tax increases for six months but then later went further by dropping them from the 2019 budget altogether. Still, that has failed to halt protests. In the fourth weekend of demonstrations on Saturday, around 125,000 were estimated to have protested around France.

In Paris, 10,000 demonstrators were believed to have taken to the streets with some throwing stones, torching cars and vandalizing shops and restaurants. Over 1,000 people were taken into custody and 264 were injured (including 39 police officers), the Interior Ministry said in a tweet on Saturday.

Analysts predict that Macron will have to change political tack in order to address voter concerns.

“The question is how much, in the way of concessions, is Macron going to have to give to calm the protests down,” Constantine Fraser, European political analyst at TS Lombard, told CNBC Monday.

“I wouldn’t be surprised if over the next few years we see a lot more of a consumer-faced Macron, a Macron who focuses much more on standards of living and on disposable income issues,” he told CNBC’s Street Signs.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: holly ellyatt, celestino arce, nurphoto, getty images, benoit tessier
Keywords: news, cnbc, companies, macron, france, economic, late, wouldnt, lot, promise, riots, yellow, political, expected, went, protests, told, change, taken


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Nick Ayers rules out role as new White House chief of staff

Nick Ayers, Vice President Mike Pence’s chief of staff, will not be tapped to fill the vacancy left by departing White House chief of staff John Kelly, and will exit the Trump administration by year’s end. Yet the president, eager to tamp down on the storyline of his White House in chaos, wants Ayers to stay on full time. A source familiar with the matter told CNBC the president is expected to make a decision by year’s end. Kelly is expected to depart his role as White House Chief of Staff by th


Nick Ayers, Vice President Mike Pence’s chief of staff, will not be tapped to fill the vacancy left by departing White House chief of staff John Kelly, and will exit the Trump administration by year’s end. Yet the president, eager to tamp down on the storyline of his White House in chaos, wants Ayers to stay on full time. A source familiar with the matter told CNBC the president is expected to make a decision by year’s end. Kelly is expected to depart his role as White House Chief of Staff by th
Nick Ayers rules out role as new White House chief of staff Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-09  Authors: javier e david, jonathan ernst, getty images
Keywords: news, cnbc, companies, rules, ayers, role, white, familiar, president, nick, staff, reported, expected, trump, chief, house


Nick Ayers rules out role as new White House chief of staff

Nick Ayers, Vice President Mike Pence’s chief of staff, will not be tapped to fill the vacancy left by departing White House chief of staff John Kelly, and will exit the Trump administration by year’s end.

On Sunday, The Wall Street Journal and NBC News, citing sources familiar with the mater, reported that Ayers and President Donald Trump were unable to agree on a time-frame for him to serve, effectively ending negotiations for the 36-year old political veteran to take the senior administration role.

On Twitter, Ayers confirmed that he was leaving Washington, but said he would continue to work to advance the president’s policy goals.

NBC and The New York Times reported on Saturday that Ayers was only willing to commit to an interim term through the spring, as his family is expected return to Georgia, citing people familiar with the discussions. Yet the president, eager to tamp down on the storyline of his White House in chaos, wants Ayers to stay on full time.

Rep. Mark Meadows, the chairman of the House Freedom Caucus, is now being considered at the retired general’s permanent replacement, Axios reported on Sunday, citing unnamed sources. A source familiar with the matter told CNBC the president is expected to make a decision by year’s end.

Kelly is expected to depart his role as White House Chief of Staff by the end of the year, Trump announced on Saturday, ending a tenure marked by tensions with his boss and confrontations with other key administration figures.

Kelly’s departure follows several months of controversy and turmoil, and comes at a time when the president’s agenda is imperiled by a midterm election in which Democrats recaptured the House of Representatives. The chief of staff vacancy is just the latest changing of the guard at the administration’s highest levels, which includes the U.S. Attorney General, United Nations ambassador and Joint Chiefs of Staff.


Company: cnbc, Activity: cnbc, Date: 2018-12-09  Authors: javier e david, jonathan ernst, getty images
Keywords: news, cnbc, companies, rules, ayers, role, white, familiar, president, nick, staff, reported, expected, trump, chief, house


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SAS earnings: Fourth-quarter pretax higher than expected

SAS CEO: Environment is an ‘existential issue’ for us 9 Hours Ago | 04:10Scandinavian airline SAS posted on Tuesday a bigger rise than expected in fiscal fourth-quarter pretax profit but warned of an increased loss in its current quarter due to higher fuel costs and more competition. Pretax profit for the August to October period was 809 million Swedish crowns ($90.1 million) against a year-ago 657 million and mean forecast of 729 million in a Reuters poll of analysts. The company said it expect


SAS CEO: Environment is an ‘existential issue’ for us 9 Hours Ago | 04:10Scandinavian airline SAS posted on Tuesday a bigger rise than expected in fiscal fourth-quarter pretax profit but warned of an increased loss in its current quarter due to higher fuel costs and more competition. Pretax profit for the August to October period was 809 million Swedish crowns ($90.1 million) against a year-ago 657 million and mean forecast of 729 million in a Reuters poll of analysts. The company said it expect
SAS earnings: Fourth-quarter pretax higher than expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: reuters with cnbccom
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SAS earnings: Fourth-quarter pretax higher than expected

SAS CEO: Environment is an ‘existential issue’ for us 9 Hours Ago | 04:10

Scandinavian airline SAS posted on Tuesday a bigger rise than expected in fiscal fourth-quarter pretax profit but warned of an increased loss in its current quarter due to higher fuel costs and more competition.

Pretax profit for the August to October period was 809 million Swedish crowns ($90.1 million) against a year-ago 657 million and mean forecast of 729 million in a Reuters poll of analysts.

The company said it expects to deliver a positive result before tax and nonrecurring items in its fiscal year 2018/19.

Rickard Gustafson, the CEO of Scandinavian Airlines, told CNBC’s “Squawk Box Europe” the company still has work to do to ensure it has a solid offering for customers and continues to increase efficiencies.

“We anticipate that it’s going to be a very, very competitive environment,” he said, adding that there’s the potential for price reductions in the short term.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, fiscal, sas, expected, profit, company, warned, fourthquarter, work, yearago, higher, environment, ceo, earnings, pretax, million


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Oil prices extend gains on expected OPEC-led supply cuts

Oil prices rose on Tuesday, extending strong gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output. International Brent crude oil futures were up 40 cents, or 0.7 percent, at $62.09 per barrel. It added that it expected a joint effort by OPEC and Russia to withhold supply to push Brent oil prices “above the mid-$60 per barrel level”. OPEC’s biggest problem is surging production in the United States, where output has grown by around 2 million b


Oil prices rose on Tuesday, extending strong gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output. International Brent crude oil futures were up 40 cents, or 0.7 percent, at $62.09 per barrel. It added that it expected a joint effort by OPEC and Russia to withhold supply to push Brent oil prices “above the mid-$60 per barrel level”. OPEC’s biggest problem is surging production in the United States, where output has grown by around 2 million b
Oil prices extend gains on expected OPEC-led supply cuts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: andrew burton, getty images
Keywords: news, cnbc, companies, opec, crude, extend, bank, united, million, cuts, gains, bpd, production, opecled, expected, output, supply, prices, oil, vienna


Oil prices extend gains on expected OPEC-led supply cuts

Oil prices rose on Tuesday, extending strong gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output.

The 90-day truce in the trade dispute between the United States and China was also still supporting markets, traders said.

U.S. West Texas Intermediate (WTI) crude futures were at $53.35 per barrel at 0137 GMT, up 40 cents, or 0.8 percent, from their last close.

International Brent crude oil futures were up 40 cents, or 0.7 percent, at $62.09 per barrel.

Both crude benchmarks climbed by around 4 percent the previous session after Washington and Beijing agreed a truce in their trade disputes and said they would negotiate for 90 days before taking any further action.

The Middle East dominated Organization of the Petroleum Exporting Countries (OPEC) will on Dec. 6 meet at its headquarters in Vienna, Austria, to agree a joint output policy.

It will also discuss policy with non-OPEC production giant Russia.

“We expect OPEC to follow suit and agree to a production cut in Vienna this coming Thursday,” U.S. bank Goldman Sachs said in a note to clients.

“A cut in OPEC and Russia production of 1.3 million barrels per day (bpd) will be required to reverse the ongoing counter-seasonally large increase in inventories,” the bank said.

It added that it expected a joint effort by OPEC and Russia to withhold supply to push Brent oil prices “above the mid-$60 per barrel level”.

Helping OPEC in its efforts to rein in emerging oversupply was an order on Sunday by the Canadian province of Alberta for producers to scale back output by 325,000 bpd until excess crude in storage is reduced.

OPEC’s biggest problem is surging production in the United States, where output has grown by around 2 million bpd in a year to more than 11.5 million bpd.

China in November resumed imports of U.S. crude oil, taking in one tanker at the end of last month, according to ship-tracking data, with another on order for delivery in January.

Britain’s Barclays bank pointed out that production in the state of Texas alone “reached 4.69 million bpd in September, compared with Iraqi output of 4.66 million by our estimates”.

Iraq is OPEC’s second-biggest oil producer, behind only Saudi Arabia.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: andrew burton, getty images
Keywords: news, cnbc, companies, opec, crude, extend, bank, united, million, cuts, gains, bpd, production, opecled, expected, output, supply, prices, oil, vienna


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Apple will launch new AirPods in 2019, sales expected to grow

Kuo, who has a track record for accurately predicting Apple product launches, said AirPods are Apple’s most popular accessory ever. In the note, Kuo said Apple AirPods have the fastest growth momentum of any Apple product. “Over 1 billion iPhone users worldwide offer great potential growth opportunities for AirPods,” Kuo said. “We believe that there is a greater likelihood of legacy iPhone users buying AirPods than upgrading to new iPhone models.” Apple’s stock has taken a large hit over the las


Kuo, who has a track record for accurately predicting Apple product launches, said AirPods are Apple’s most popular accessory ever. In the note, Kuo said Apple AirPods have the fastest growth momentum of any Apple product. “Over 1 billion iPhone users worldwide offer great potential growth opportunities for AirPods,” Kuo said. “We believe that there is a greater likelihood of legacy iPhone users buying AirPods than upgrading to new iPhone models.” Apple’s stock has taken a large hit over the las
Apple will launch new AirPods in 2019, sales expected to grow Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: todd haselton, getty images
Keywords: news, cnbc, companies, users, sales, wireless, 2019, growth, units, grow, iphone, airpods, million, launch, apple, expected, kuo


Apple will launch new AirPods in 2019, sales expected to grow

Apple’s wireless AirPods headphones could see massive growth over the next few years, TF International Securities analyst Ming-Chi Kuo wrote in a research note released last week. It’s a positive sign for Apple as it seeks new growth areas that can help the company squeeze more revenue out of each iPhone user.

Kuo, who has a track record for accurately predicting Apple product launches, said AirPods are Apple’s most popular accessory ever.

In the note, Kuo said Apple AirPods have the fastest growth momentum of any Apple product. Kuo estimates Apple will ship 26-28 million AirPod units this year, up from 14-16 million in 2017. Kuo also expects Apple to release a new version of AirPods next year with wireless charging that will help propel shipments to 50-55 million units next year, 70-80 million in 2020 and 100-110 million units in 2021.

Apple does not disclose how many accessories like AirPods and Apple Watches it sells, and lumps the revenue those products generate into its “Other Products” category.

“Over 1 billion iPhone users worldwide offer great potential growth opportunities for AirPods,” Kuo said. “We believe that there is a greater likelihood of legacy iPhone users buying AirPods than upgrading to new iPhone models.”

Apple’s stock has taken a large hit over the last month, following a slew of reports that iPhone sales are falling below expectations. Apple also said last month that it will no longer report unit sales for the iPhone, which rattled investors. The rout caused Apple to lose its position as the largest U.S. public company by market cap to Microsoft on Friday.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: todd haselton, getty images
Keywords: news, cnbc, companies, users, sales, wireless, 2019, growth, units, grow, iphone, airpods, million, launch, apple, expected, kuo


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George HW Bush to lie in state in DC, buried at presidential library

Former president George Herbert Walker Bush, who died late Friday at the age of 94, will lie in state in Washington DC beginning on Monday, before being buried at his presidential library later in the week, his office announced on Saturday. The remains of the United States’ 41st president is expected to depart Houston on Monday, arriving in the nation’s capital for a two-day ceremony. Bush will lie in state from Monday evening until Wednesday morning, which President Donald Trump has designated


Former president George Herbert Walker Bush, who died late Friday at the age of 94, will lie in state in Washington DC beginning on Monday, before being buried at his presidential library later in the week, his office announced on Saturday. The remains of the United States’ 41st president is expected to depart Houston on Monday, arriving in the nation’s capital for a two-day ceremony. Bush will lie in state from Monday evening until Wednesday morning, which President Donald Trump has designated
George HW Bush to lie in state in DC, buried at presidential library Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: javier e david, kevin breuninger, suzanne cordeiro, afp, getty images
Keywords: news, cnbc, companies, hw, president, washington, lady, expected, buried, dc, remains, lie, library, george, houston, bush, trump, state, presidential


George HW Bush to lie in state in DC, buried at presidential library

Former president George Herbert Walker Bush, who died late Friday at the age of 94, will lie in state in Washington DC beginning on Monday, before being buried at his presidential library later in the week, his office announced on Saturday.

The remains of the United States’ 41st president is expected to depart Houston on Monday, arriving in the nation’s capital for a two-day ceremony. Bush will lie in state from Monday evening until Wednesday morning, which President Donald Trump has designated as a national day of mourning. As such all markets will be closed for trading, and most government functions will be put on hold.

According to the itinerary, Bush’s remains will leave Washington and return to Texas, where his body will lie in repose until being buried next to his wife in College Station, which is approximately 90 miles from Houston. Former first lady Barbara Bush died in April at the age of 92.

On Saturday, Bush was memorialized by a wave bipartisan tributes to his life and legacy. Trump and First Lady Melania Trump will attend the 41st president’s funeral, with a host of Washington veterans and former officials are expected to be present.


Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: javier e david, kevin breuninger, suzanne cordeiro, afp, getty images
Keywords: news, cnbc, companies, hw, president, washington, lady, expected, buried, dc, remains, lie, library, george, houston, bush, trump, state, presidential


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Bank of Korea lifts rates as expected, seen on hold in 2019

South Korea’s central bank raised its policy interest rate on Friday for the first time in a year in a widely expected move aimed mainly at containing a boom in parts of the country’s property market. The Bank of Korea’s monetary policy committee increased the base rate, which applies to its seven-day repurchase agreement deals, by 25 basis points to 1.75 percent, a media official at the central bank said without elaborating. “Given the global uncertainties that we’ve had of late, I think the ce


South Korea’s central bank raised its policy interest rate on Friday for the first time in a year in a widely expected move aimed mainly at containing a boom in parts of the country’s property market. The Bank of Korea’s monetary policy committee increased the base rate, which applies to its seven-day repurchase agreement deals, by 25 basis points to 1.75 percent, a media official at the central bank said without elaborating. “Given the global uncertainties that we’ve had of late, I think the ce
Bank of Korea lifts rates as expected, seen on hold in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: seongjoon cho bloomberg via getty images
Keywords: news, cnbc, companies, rates, policy, hold, bank, seoul, property, korea, central, widely, rate, lifts, koreas, timing, seen, 2019, markets, expected


Bank of Korea lifts rates as expected, seen on hold in 2019

South Korea’s central bank raised its policy interest rate on Friday for the first time in a year in a widely expected move aimed mainly at containing a boom in parts of the country’s property market.

The Bank of Korea’s monetary policy committee increased the base rate, which applies to its seven-day repurchase agreement deals, by 25 basis points to 1.75 percent, a media official at the central bank said without elaborating.

Governor Lee Ju-yeol is due to hold a news conference starting at 0220 GMT.

Analysts said heightened global markets turmoil over the past few months has made it difficult for the BOK to find the perfect timing to adjust policy.

“Given the global uncertainties that we’ve had of late, I think the central bank chose the best timing,” said Kong Dong-rak, strategist at Daishin Securities, adding that the central bank would likely keep the rate on hold throughout next year.

Market reaction to the widely expected move was modest as investors await further comments from the governor for guidance on future policy direction.

As of 0126 GMT, the Seoul stock market’s KOSPI was down 0.1 percent on the day while the front-month 3-year treasury bond futures were down 0.03 points.

The decision, tipped by 15 out of 16 economists in a Reuters survey, marked the first tightening in policy since November last year and brought the benchmark rate to its highest level since mid-2015.

Policymakers have been concerned about a property boom in the Seoul area and a surge in consumer finance, prompting various property restrictions.

Still, analysts expect the central bank to stand pat at least throughout next year with the domestic property market already cooling at a time when Asia’s fourth-largest economy is slowing and inflation remains low.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: seongjoon cho bloomberg via getty images
Keywords: news, cnbc, companies, rates, policy, hold, bank, seoul, property, korea, central, widely, rate, lifts, koreas, timing, seen, 2019, markets, expected


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Oil steady as expected OPEC cuts balance high inventory

Oil prices steadied on Friday as expectations that OPEC and Russia would agree some form of production cut next week balanced pressure from swelling inventories. Surging oil production in the United States, Russia and by members of the Middle East-dominated Organization of the Petroleum Exporting Countries has helped fill global inventories and create a glut in some markets. “The next OPEC meeting is going to prove a pivotal moment for the direction of oil prices in 2019,” BNP Paribas strategist


Oil prices steadied on Friday as expectations that OPEC and Russia would agree some form of production cut next week balanced pressure from swelling inventories. Surging oil production in the United States, Russia and by members of the Middle East-dominated Organization of the Petroleum Exporting Countries has helped fill global inventories and create a glut in some markets. “The next OPEC meeting is going to prove a pivotal moment for the direction of oil prices in 2019,” BNP Paribas strategist
Oil steady as expected OPEC cuts balance high inventory Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: leonhard foeger
Keywords: news, cnbc, companies, inventory, opec, global, cuts, crude, oil, production, week, high, united, barrels, balance, prices, steady, expected, russia


Oil steady as expected OPEC cuts balance high inventory

Oil prices steadied on Friday as expectations that OPEC and Russia would agree some form of production cut next week balanced pressure from swelling inventories.

Both international oil benchmarks, North Sea Brent and U.S. light crude, have had their weakest month for more than 10 years in November, losing 28 percent and 30 percent respectively as global supply has outstripped demand.

Brent was up 25 cents at $59.76 a barrel by 0910 GMT. U.S. West Texas Intermediate was unchanged at $51.45. Both contracts are up about 1 percent this week, the first weekly gains in almost two months.

Surging oil production in the United States, Russia and by members of the Middle East-dominated Organization of the Petroleum Exporting Countries has helped fill global inventories and create a glut in some markets.

A slowdown in oil demand growth is compounding the emerging oversupply.

“Near-term oversupply has gutted Brent prices,” said Jason Gammel, analyst at U.S. investment bank Jefferies, adding that there was “an increasing urgency to move crude into storage”.

This move is visible in the Brent forward price curve, which now has prices for future delivery above those for immediate dispatch, a structure known as “contango”, which can make it attractive to put oil into storage for later sale.

To rein in the glut, OPEC and its main partner Russia are discussing supply cuts and are due to meet in Vienna on Dec. 6 and 7 to agree production strategy.

“The next OPEC meeting is going to prove a pivotal moment for the direction of oil prices in 2019,” BNP Paribas strategist Harry Tchilinguirian told Reuters Global Oil Forum.

“A decision will have to be made against a background of strong U.S. shale oil supply growth, and for now, weaker expectations on global oil demand growth.”

Before the OPEC meeting, the world’s top three producers – the United States, Russia and Saudi Arabia – will be part of a meeting this weekend of the Group of 20 industrialized nations in Buenos Aires, Argentina.

Oil inventories are rising fast in the United States, where commercial crude stocks rose by 3.6 million barrels in the week to Nov. 23 to 450.49 million barrels, according to the Energy Information Administration (EIA).

U.S. crude production is at a record high of 11.7 million barrels per day (bpd).

Crude reserves increased 6.4 billion barrels, or 19.5 percent, to 39.2 billion barrels at year-end 2017, marginally higher than the previous record of 39 billion barrels set in 1970, the EIA said.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: leonhard foeger
Keywords: news, cnbc, companies, inventory, opec, global, cuts, crude, oil, production, week, high, united, barrels, balance, prices, steady, expected, russia


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Geopolitical concerns and higher interest rates led GroupM to lower ad spending projections for 2019

According to a new report from WPP’s GroupM, global ad spending will increase 3.6 percent, or by $19 billion, in 2019 which is lower than the company’s 3.9 percent projection from earlier this year. Meanwhile, many consumer companies aren’t increasing their ad spending on traditional media like TV, radio, print and billboards. In the U.S., ad spending is expected increase 2.9 percent in 2019. About 40 percent of ad budgets are allocated for digital, while 39.9 percent go to television. GroupM ha


According to a new report from WPP’s GroupM, global ad spending will increase 3.6 percent, or by $19 billion, in 2019 which is lower than the company’s 3.9 percent projection from earlier this year. Meanwhile, many consumer companies aren’t increasing their ad spending on traditional media like TV, radio, print and billboards. In the U.S., ad spending is expected increase 2.9 percent in 2019. About 40 percent of ad budgets are allocated for digital, while 39.9 percent go to television. GroupM ha
Geopolitical concerns and higher interest rates led GroupM to lower ad spending projections for 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: michelle castillo, source, ford motor co
Keywords: news, cnbc, companies, expected, concerns, global, growth, way, interest, lower, geopolitical, led, rates, increase, ad, higher, groupm, billion, spending, projections, budgets, advertising


Geopolitical concerns and higher interest rates led GroupM to lower ad spending projections for 2019

Concern about the global economy has made its way to advertising budgets.

According to a new report from WPP’s GroupM, global ad spending will increase 3.6 percent, or by $19 billion, in 2019 which is lower than the company’s 3.9 percent projection from earlier this year. Growth in 2018 is also weaker than expected, rising 4.3 percent, down from a prior estimate of 4.5 percent.

Higher interest rates and China’s slowing growth are among the factors that Group M, the world’s largest media investment company, cited for lowering its projections. Potential trade wars are also a threat, particularly to automotive companies, which are typically among the largest advertisers. Meanwhile, many consumer companies aren’t increasing their ad spending on traditional media like TV, radio, print and billboards.

A slowdown next year was already anticipated even before the latest macroeconomic and geopolitical concerns surfaced in a major way. That’s because there are fewer big marketing events on the horizon. In 2018, advertisers had the World Cup, the Winter Olympics and the mid-term elections, which all attracted huge audiences.

In the U.S., ad spending is expected increase 2.9 percent in 2019. About 40 percent of ad budgets are allocated for digital, while 39.9 percent go to television. Brands will be tracking the impact of new restrictions on data privacy, following the GDPR regulations in Europe this year and with similar initiatives coming to California in 2020.

China is projected to lead global advertising revenue growth, with budgets increasing 5.5 percent. The country’s advertising market, currently valued at $90 billion, has doubled since 2010 and is second to the U.S. India, Japan and the U.K. are also expected to add to the global increase in ad budgets.

GroupM handles more than $113 billion in advertising budgets on behalf of brands.

WATCH: P&G chief brand officer on data privacy


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: michelle castillo, source, ford motor co
Keywords: news, cnbc, companies, expected, concerns, global, growth, way, interest, lower, geopolitical, led, rates, increase, ad, higher, groupm, billion, spending, projections, budgets, advertising


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