$60 to $70 is a fair price for a barrel of oil, Egypt’s petroleum minister says

There is a fair price for a barrel of oil and OPEC and its non-OPEC partners are close to achieving it through their deal to cut production, according to Egypt’s Petroleum Minister Tarek El-Molla. “It is in the range between $60 and $70 a barrel … somewhere in this bracket of price,” El Molla told CNBC on Sunday when asked if oil prices were at an acceptable level to keep producers and consumers happy. If we see prices go down below a certain price then we will see a slowdown in investments,” he


There is a fair price for a barrel of oil and OPEC and its non-OPEC partners are close to achieving it through their deal to cut production, according to Egypt’s Petroleum Minister Tarek El-Molla. “It is in the range between $60 and $70 a barrel … somewhere in this bracket of price,” El Molla told CNBC on Sunday when asked if oil prices were at an acceptable level to keep producers and consumers happy. If we see prices go down below a certain price then we will see a slowdown in investments,” he
$60 to $70 is a fair price for a barrel of oil, Egypt’s petroleum minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: holly ellyatt, mohd jailanee othman, eyeem, getty images
Keywords: news, cnbc, companies, barrels, production, fair, million, egypts, barrel, minister, 60, prices, producers, day, petroleum, opec, oil, price, 70


$60 to $70 is a fair price for a barrel of oil, Egypt's petroleum minister says

There is a fair price for a barrel of oil and OPEC and its non-OPEC partners are close to achieving it through their deal to cut production, according to Egypt’s Petroleum Minister Tarek El-Molla.

“It is in the range between $60 and $70 a barrel … somewhere in this bracket of price,” El Molla told CNBC on Sunday when asked if oil prices were at an acceptable level to keep producers and consumers happy.

“If prices of crude increase significantly we would start to see inflation and an exaggeration in the slowdown in consumption from the other side. If we see prices go down below a certain price then we will see a slowdown in investments,” he said.

“So, actually, the fair equation is to have a balanced price between the producers and the consumers whereby each party is happy and to continue the growth of the global economy.”

Egypt is a significant oil and natural gas producer in the Middle East although it’s not a member of OPEC and its output is dwarfed by members of the oil producing group and other non-OPEC producers like Russia.

Egypt is aiming to boost production modestly in 2019, to 670,000 barrels a day, although its output still trails that of others in the region. The latest figures from OPEC’s monthly report in January showed that Egypt’s oil producing neighbors to the west, Libya and Algeria, produced 928,000 barrels a day and a million barrels a day respectively in December. OPEC lynchpin Saudi Arabia produced 10.5 million barrels a day.

OPEC and non-OPEC producers including Russia (collectively known as ‘OPEC plus’) have collaborated in recent years on cutting or increasing their oil production in a bid to stabilize oil prices which have been volatile since 2014.

They last agreed in December to cut oil production by 1.2 million barrels a day in order to put a floor under prices, which have fallen due to rising oil supply and lackluster demand amid an uncertain global growth outlook.

On Monday morning, Brent crude futures were trading at $61.87 a barrel while West Texas Intermediate (WTI) crude futures was trading at $52.25 a barrel. Prices took a dip in the early trading session on Monday after data showed drilling activity in the U.S., now the world’s largest oil producer, had increased again, pointing higher production.

The OPEC-Plus deal has not yet been realized fully with Russia slower to meet the desired output cut. Once the 1.2 million barrel a day cut was reached, El Molla said “I think it will adjust, and reach, the desired outcome of price.”

Speaking to CNBC’s Dan Murphy at the Egypt Petroleum Show, ‘EGYPS, ‘taking place in Cairo, El Molla said oil markets were “somehow close” to a price that can keep both oil producers happy because although oil prices have fallen from peaks of around $114 a barrel in mid-2014, production costs have also fallen with technological advances.

“With the advancement of technology, new ways of producing oil have added new volumes to the market and this technology means you’re reducing the cost per barrel, and what might have been accepted a few years ago back when we were talking about $100, or $90 or $80, a barrel oil wouldn’t be accepted now.”


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: holly ellyatt, mohd jailanee othman, eyeem, getty images
Keywords: news, cnbc, companies, barrels, production, fair, million, egypts, barrel, minister, 60, prices, producers, day, petroleum, opec, oil, price, 70


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Trump ‘hasn’t been fair’ to OPEC, Oman’s oil minister says

Oman’s oil minister thinks President Donald Trump has given OPEC some undue flak. “Sometimes he hasn’t been fair,” al-Rumhi told CNBC’s Hadley Gamble while at the Atlantic Council’s Global Energy Forum in Abu Dhabi. “Nobody wants volatility, I am sure Trump doesn’t want volatility, because volatility is difficult to manage,” he said. Trump has spent months vocally criticizing the 14-member cartel for its management of oil output, urging the group to keep the taps open and oil prices low. “OPEC i


Oman’s oil minister thinks President Donald Trump has given OPEC some undue flak. “Sometimes he hasn’t been fair,” al-Rumhi told CNBC’s Hadley Gamble while at the Atlantic Council’s Global Energy Forum in Abu Dhabi. “Nobody wants volatility, I am sure Trump doesn’t want volatility, because volatility is difficult to manage,” he said. Trump has spent months vocally criticizing the 14-member cartel for its management of oil output, urging the group to keep the taps open and oil prices low. “OPEC i
Trump ‘hasn’t been fair’ to OPEC, Oman’s oil minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-12  Authors: natasha turak, mohammed mahjoub, afp, getty images
Keywords: news, cnbc, companies, thinks, prices, oil, politics, alrumhi, fair, opec, sure, minister, volatility, trump, omans


Trump 'hasn't been fair' to OPEC, Oman's oil minister says

Oman’s oil minister thinks President Donald Trump has given OPEC some undue flak. But echoing other Gulf ministers, Mohammed bin Hamad al-Rumhi stressed his desire to steer clear of political animosity with the American leader, appearing keen to give him the benefit of the doubt.

“Sometimes he hasn’t been fair,” al-Rumhi told CNBC’s Hadley Gamble while at the Atlantic Council’s Global Energy Forum in Abu Dhabi. “I’m sure he has good intention too, he thinks he is representing the people of the U.S. and he thinks this is the way to do it.”

“Nobody wants volatility, I am sure Trump doesn’t want volatility, because volatility is difficult to manage,” he said. Trump has spent months vocally criticizing the 14-member cartel for its management of oil output, urging the group to keep the taps open and oil prices low. “OPEC is ripping us off,” Trump said in a tweet last October.

In December, OPEC members along with Russia reached an agreement to cut their crude production by 1.2 million barrels of oil per day from the market in order to stem the fall in prices, something that further drew Trump’s ire.

“Unfortunately there are politics, but sometimes the politics forces people to go to the social media or to CNBC to present their case. And that is the reality of today,” the minister said.


Company: cnbc, Activity: cnbc, Date: 2019-01-12  Authors: natasha turak, mohammed mahjoub, afp, getty images
Keywords: news, cnbc, companies, thinks, prices, oil, politics, alrumhi, fair, opec, sure, minister, volatility, trump, omans


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Trump’s trade war unleashes ‘hell’ on some Chinese toy manufacturers

Impact of US-China trade war on the toy industry 2:30 AM ET Wed, 9 Jan 2019 | 02:16The ongoing trade war between Washington and Beijing is weighing on Chinese toy exporters. Even though their products have yet to take a direct tariff hit, exhibitors at the Hong Kong Toys & Games Fair said the tariff battle and heightened tensions are still impacting their business. The two countries are racing to reach an agreement and avert U.S. President Donald Trump’s threat to increase the amount of existing


Impact of US-China trade war on the toy industry 2:30 AM ET Wed, 9 Jan 2019 | 02:16The ongoing trade war between Washington and Beijing is weighing on Chinese toy exporters. Even though their products have yet to take a direct tariff hit, exhibitors at the Hong Kong Toys & Games Fair said the tariff battle and heightened tensions are still impacting their business. The two countries are racing to reach an agreement and avert U.S. President Donald Trump’s threat to increase the amount of existing
Trump’s trade war unleashes ‘hell’ on some Chinese toy manufacturers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: kelly olsen, stringer, afp, getty images
Keywords: news, cnbc, companies, toy, yao, sze, trade, fair, unleashes, hell, chinese, war, toys, tariffs, trumps, manufacturers, hong, tariff


Trump's trade war unleashes 'hell' on some Chinese toy manufacturers

Impact of US-China trade war on the toy industry 2:30 AM ET Wed, 9 Jan 2019 | 02:16

The ongoing trade war between Washington and Beijing is weighing on Chinese toy exporters.

Even though their products have yet to take a direct tariff hit, exhibitors at the Hong Kong Toys & Games Fair said the tariff battle and heightened tensions are still impacting their business.

They cited uncertainty, the impact of tariffs already placed on some electronics that go into increasingly sophisticated toys and supply chain headaches as U.S. and Chinese negotiators work to forge a deal before a mutually-agreed-upon reprieve on new levies ends in March.

The two countries are racing to reach an agreement and avert U.S. President Donald Trump’s threat to increase the amount of existing tariffs and even expand them to virtually all of China’s exports.

China dominates global toy manufacturing and some companies are Hong Kong-owned, a remnant of the days in decades past when the city was a thriving toy making center, though now most manufacture is on the mainland.

Johnny Sze, director and vice general manager at Hong Kong-based educational toy producer Eastcolight, said that buyers from the United States are increasingly eager to lock in orders ahead of time in case toys end up on the tariff list.

“This year we noticed that we actually have a lot more U.S. customers coming here, which is quite unexpected,” Sze said Wednesday on CNBC’s “Squawk Box,” referring to the fair, which was slated to end Thursday.

Some at the event, which brought together more than 2,100 exhibitors from 42 countries and regions and is sponsored by the Hong Kong Trade Development Council, said the clash between the world’s two largest economies has clearly hurt industry sentiment.

According to Joe Yao, whose China-based Shantou Subotech Toys employs 500 people and makes precision remote control vehicles, business has declined as the trading companies that buy his wares for export worry about possible future tariffs.

“Hell” is how Yao described the situation Wednesday at his booth at the fair, citing the unease and declining sales as problems. The U.S. market, he said, has been his biggest.


Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: kelly olsen, stringer, afp, getty images
Keywords: news, cnbc, companies, toy, yao, sze, trade, fair, unleashes, hell, chinese, war, toys, tariffs, trumps, manufacturers, hong, tariff


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Time magazine says the US ‘remains a free and fair press’

Despite the White House ramping up its rhetoric, the United States remains a free and fair press, Ben Goldberger the assistant managing editor of Time magazine told CNBC on Wednesday. The year 2018 has been marked by manipulation, abuse of truth, along with efforts by governments to instigate mistrust of the facts, the magazine said in an essay when it named killed and imprisoned journalists as Person of the Year for 2018 on Tuesday. “There’s no doubt that the rhetoric from the White House about


Despite the White House ramping up its rhetoric, the United States remains a free and fair press, Ben Goldberger the assistant managing editor of Time magazine told CNBC on Wednesday. The year 2018 has been marked by manipulation, abuse of truth, along with efforts by governments to instigate mistrust of the facts, the magazine said in an essay when it named killed and imprisoned journalists as Person of the Year for 2018 on Tuesday. “There’s no doubt that the rhetoric from the White House about
Time magazine says the US ‘remains a free and fair press’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-12  Authors: harini v, kena betancur, afp, getty images, -ben goldberger, assistant managing editor of time magazine
Keywords: news, cnbc, companies, rhetoric, goldberger, remains, house, magazine, fair, free, white, states, united, press


Time magazine says the US 'remains a free and fair press'

Despite the White House ramping up its rhetoric, the United States remains a free and fair press, Ben Goldberger the assistant managing editor of Time magazine told CNBC on Wednesday.

The year 2018 has been marked by manipulation, abuse of truth, along with efforts by governments to instigate mistrust of the facts, the magazine said in an essay when it named killed and imprisoned journalists as Person of the Year for 2018 on Tuesday.

“There’s no doubt that the rhetoric from the White House about the demonization of the media as ‘the enemy of the people,’ or the willingness to dismiss anything including credible news reporting as fake news, is incredibly worrisome and chilling,” Goldberger said. “But that said, I return to what I said about the United States — this remains a free and fair press.”

“Journalists here enjoy legal protections that are the envy of those in virtually every other country,” he added.


Company: cnbc, Activity: cnbc, Date: 2018-12-12  Authors: harini v, kena betancur, afp, getty images, -ben goldberger, assistant managing editor of time magazine
Keywords: news, cnbc, companies, rhetoric, goldberger, remains, house, magazine, fair, free, white, states, united, press


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Malaysia Prime Minister Mahathir Mohamad on Najib Razak’s 1MDB charges

Those charged with stealing money from sovereign wealth fund 1Malaysia Development Berhad will get a fair trial, including former leader Najib Razak, MalaysianPrime Minister Mahathir Mohamad said Monday. Whatever the law says, we accept,” Mahathir told CNBC’s Sri Jegarajah in response to a question about whether Najib can be guaranteed a fair trial. But we want a free judiciary and we hope that they will not be biased,” said the prime minister. Najib has been charged with money laundering offens


Those charged with stealing money from sovereign wealth fund 1Malaysia Development Berhad will get a fair trial, including former leader Najib Razak, MalaysianPrime Minister Mahathir Mohamad said Monday. Whatever the law says, we accept,” Mahathir told CNBC’s Sri Jegarajah in response to a question about whether Najib can be guaranteed a fair trial. But we want a free judiciary and we hope that they will not be biased,” said the prime minister. Najib has been charged with money laundering offens
Malaysia Prime Minister Mahathir Mohamad on Najib Razak’s 1MDB charges Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: yen nee lee, getty images
Keywords: news, cnbc, companies, minister, najib, razaks, mahathir, judiciary, malaysia, law, wealth, charges, mohamad, fair, charged, prime, money, scandal, triali, 1mdb


Malaysia Prime Minister Mahathir Mohamad on Najib Razak's 1MDB charges

Those charged with stealing money from sovereign wealth fund 1Malaysia Development Berhad will get a fair trial, including former leader Najib Razak, MalaysianPrime Minister Mahathir Mohamad said Monday.

“We believe in the rule of law. Whatever the law says, we accept,” Mahathir told CNBC’s Sri Jegarajah in response to a question about whether Najib can be guaranteed a fair trial.

“I must admit that, in the previous regime, there is an attempt to fiddle with the judiciary. But we want a free judiciary and we hope that they will not be biased,” said the prime minister.

Najib has been charged with money laundering offenses in relation to the disappearance of billions of dollars from 1MDB. The person said to be at the center of the scandal, Malaysian financier Low Taek Jho, has not been located.

The scandal involved money being illegally transferred across shell companies and individual bank accounts in many countries. The U.S. Department of Justice previously alleged that Najib received $681 million from proceeds misappropriated from a bond issue arranged by Goldman Sachs in 2013.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: yen nee lee, getty images
Keywords: news, cnbc, companies, minister, najib, razaks, mahathir, judiciary, malaysia, law, wealth, charges, mohamad, fair, charged, prime, money, scandal, triali, 1mdb


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Fair app uses subscription model to promote car ownership

Enter Fair, which is two-year old startup where you choose a used vehicle, get approved and complete the transaction — all on your smartphone app. After selecting a car and linking a bank account, the used car can be picked up at the dealer. According to Painter, Fair has 20,000 customers and is adding 500 a week. Before a driver gets their used car, Fair requires an upfront fee they call a “start payment” that’s “based on the value of each vehicle.” For an additional fee, Painter added that Fai


Enter Fair, which is two-year old startup where you choose a used vehicle, get approved and complete the transaction — all on your smartphone app. After selecting a car and linking a bank account, the used car can be picked up at the dealer. According to Painter, Fair has 20,000 customers and is adding 500 a week. Before a driver gets their used car, Fair requires an upfront fee they call a “start payment” that’s “based on the value of each vehicle.” For an additional fee, Painter added that Fai
Fair app uses subscription model to promote car ownership Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: trent gillies
Keywords: news, cnbc, companies, monthly, money, start, used, vehicle, uses, model, fair, app, understand, subscription, fee, ownership, car, painter, promote


Fair app uses subscription model to promote car ownership

What if you need a car, but you have a fear of commitment?

To buy a car, an auto loan locks you in for 5 or 6 years. A lease is a shorter term alternative, but it’s still a 3 year deal. However, there’s a third, even more flexible option: A monthly subscription.

Enter Fair, which is two-year old startup where you choose a used vehicle, get approved and complete the transaction — all on your smartphone app. The service falls somewhere between a long-term car rental, and a shorter term car lease. Today, Fair is available in 22 cities and 12 states, with plans to go national by year’s end.

“What we’re doing is giving mobility without going into debt with a car loan,” Fair founder and CEO Scott Painter told CNBC’s “On the Money” in a recent interview.

“Americans are already at a place where we understand that we pay for what we want to use,” he said, adding that Fair promotes the idea that a car “doesn`t have to require this big burden of debt.”

It’s an idea that’s already got some adherents in car manufactures like BMW, Volvo and Cadillac, all of which are testing their own auto subscription models that give customers more flexibility to acquire new vehicles.

Painter explained that Fair clients pre-qualify on the app by scanning a driver’s license. After selecting a car and linking a bank account, the used car can be picked up at the dealer.

“All the cars that are in the Fair app are located on dealer lots and we partner with dealers,” said Painter, the former CEO and founder of TrueCar and CarsDirect. “Fair actually acquires the vehicle once you select it, and then we enter into an agreement with you as our driver to subscribe to that car. So for dealers this represents a sale.”

According to Painter, Fair has 20,000 customers and is adding 500 a week. He added that the average Fair user is paying a monthly fee of $360 a month. Available vehicles range from a Nissan Versa subcompact for $125 a month, all the way up to a McLaren 570S Coupe (which you can drive away with, if approved), for about $4,000 a month.

Before a driver gets their used car, Fair requires an upfront fee they call a “start payment” that’s “based on the value of each vehicle.” After 3 days or 100 miles, the start payment is non-refundable. And if you want to change your car, each new vehicle requires a new ‘start payment.”

Bundled in the monthly fee is a warranty and standard roadside maintenance. For an additional fee, Painter added that Fair offers month-to-month auto insurance, or drivers can use their own policies.

He specified that Fair makes money when customers “pay month-to-month [and] we generate fee-based revenue” — but accurate pricing of used cars is key to making a profit.

“Actually, the reason we’re able make money at it is because we understand today what a car is worth using data,” Painter said.

“These markets for new and used cars have become so transparent, and we have absolute clarity around what a car is worth, just based on a VIN number and a license plate,” he added. “We can see mileage, age, condition, repair history and understand what that car is worth.”

With its built-in advantages, the subscription model of car ownership is “definitely going mainstream and becoming a true alternative to…the hassle of getting a car loan and going into debt to buy a depreciating asset.”

On the Money airs on CNBC Saturday at 5:30 am ET, or check listings for air times in local markets.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: trent gillies
Keywords: news, cnbc, companies, monthly, money, start, used, vehicle, uses, model, fair, app, understand, subscription, fee, ownership, car, painter, promote


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Vanity Fair’s Radhika Jones shares the lessons she learned from all-girls education and Tina Brown

Radhika Jones just wrapped up her first Vanity Fair New Establishment Summit as editor-in-chief of the storied magazine. Jones, started in the role in December 2017, took the helm from legendary editor Graydon Carter, who ran the magazine for a 25 years. “It’s such an interesting time to take the role, just because there is so much change outside of Vanity Fair in the worlds that we cover. It feels like we have all this opportunity to tell new stories with new faces and new voices,” says Jones.


Radhika Jones just wrapped up her first Vanity Fair New Establishment Summit as editor-in-chief of the storied magazine. Jones, started in the role in December 2017, took the helm from legendary editor Graydon Carter, who ran the magazine for a 25 years. “It’s such an interesting time to take the role, just because there is so much change outside of Vanity Fair in the worlds that we cover. It feels like we have all this opportunity to tell new stories with new faces and new voices,” says Jones.
Vanity Fair’s Radhika Jones shares the lessons she learned from all-girls education and Tina Brown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: julia boorstin, -radhika jones, editor-in-chief, vanity fair
Keywords: news, cnbc, companies, tina, brown, cover, waithe, editor, fairs, trying, carter, fair, lessons, vanity, magazine, jones, conversation, radhika, learned, education, shares


Vanity Fair's Radhika Jones shares the lessons she learned from all-girls education and Tina Brown

Radhika Jones just wrapped up her first Vanity Fair New Establishment Summit as editor-in-chief of the storied magazine.

Jones, started in the role in December 2017, took the helm from legendary editor Graydon Carter, who ran the magazine for a 25 years. The 45-year-old wasted no time making her mark on the magazine, putting new faces, such as Lena Waithe, on the cover and bringing a particularly diverse assortment of executives and creators to this year’s summit stage.

“It’s such an interesting time to take the role, just because there is so much change outside of Vanity Fair in the worlds that we cover. It feels like we have all this opportunity to tell new stories with new faces and new voices,” says Jones. “It’s true I am of a different generation than Graydon Carter, but I’m also very conscious that the editor before him, Tina Brown, was younger than I am now when she took the job and infused the magazine with her own energy and with the kind of prevalent stories of her own time.”

Jones says the vision for Vanity Fair is bigger than any single editor. While Carter sparred with President Trump for decades before he was elected and frequently criticized him in the magazine’s Editor’s Letter, Jones hasn’t made such explicit political statements. But she is engaging in the larger political conversation, particularly as it relates to diversity and inclusion.

“I have been really fired up by all of the conversations that we are having in our culture since the election, with the rise of #MeToo, it feels like there is a huge range of conversation about workplace culture, about women’s anger, about being heard, about power,” says Jones. “There’s a lot of energy around those conversations and we’re trying to tap into them.”

One example? Putting Waithe on the cover. Jones says she’s representative of an emerging new guard.

Now Jones is navigating her own leadership style, and how it differs from her predecessor’s: “For me it was a question of becoming comfortable with my own ability to lead, not trying to imitate someone else leading but becoming comfortable with my own style of communication and conversation and decision-making.”


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: julia boorstin, -radhika jones, editor-in-chief, vanity fair
Keywords: news, cnbc, companies, tina, brown, cover, waithe, editor, fairs, trying, carter, fair, lessons, vanity, magazine, jones, conversation, radhika, learned, education, shares


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Comparing Italy debt concerns to Greece is ‘not quite fair’: European Stability Mechanism chief

Italy was ‘always in a much better situation’ than Greece: ESM 2 Hours Ago | 02:02It’s unfair to draw comparisons between the current concerns about Italy’s budget deficit targets and Greece at the height of the its debt crisis, according to the managing director of Europe’s bailout fund. Over the last eight years during the euro crisis, Italy never lost market access, Klaus Regling, managing director for the European Stability Mechanism, told CNBC’s Nancy Hungerford on Thursday at the IMF and W


Italy was ‘always in a much better situation’ than Greece: ESM 2 Hours Ago | 02:02It’s unfair to draw comparisons between the current concerns about Italy’s budget deficit targets and Greece at the height of the its debt crisis, according to the managing director of Europe’s bailout fund. Over the last eight years during the euro crisis, Italy never lost market access, Klaus Regling, managing director for the European Stability Mechanism, told CNBC’s Nancy Hungerford on Thursday at the IMF and W
Comparing Italy debt concerns to Greece is ‘not quite fair’: European Stability Mechanism chief Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: saheli roy choudhury, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, deficit, italys, italian, director, debt, greece, stability, target, managing, mechanism, comparing, concerns, fair, quite, european, regling, italy


Comparing Italy debt concerns to Greece is 'not quite fair': European Stability Mechanism chief

Italy was ‘always in a much better situation’ than Greece: ESM 2 Hours Ago | 02:02

It’s unfair to draw comparisons between the current concerns about Italy’s budget deficit targets and Greece at the height of the its debt crisis, according to the managing director of Europe’s bailout fund.

Over the last eight years during the euro crisis, Italy never lost market access, Klaus Regling, managing director for the European Stability Mechanism, told CNBC’s Nancy Hungerford on Thursday at the IMF and World Bank annual meetings in Bali, Indonesia.

“The comparison with Greece is, I think, not quite fair, at least not when we compare Greece when it was in the difficult phase,” Regling said, adding, that Italy had long been in a much better situation.

“Because (Italy’s) deficits were relatively small, there’s a current account surplus for Italy, we know that a lot of the Italian sovereign debt is financed by residents because savings of the Italian private sector is very high,” he said.

Still, the country has become a concern for investors in recent weeks after its new coalition government announced plans to increase public spending in the coming years.

Last month, the government agreed on a 2.4 percent budget deficit target for 2019, which is three times higher than the number that the previous government had planned. It set a debt-to-GDP target of 130 percent in 2019. Italy also predicted growth rate for next year to be 1.5 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: saheli roy choudhury, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, deficit, italys, italian, director, debt, greece, stability, target, managing, mechanism, comparing, concerns, fair, quite, european, regling, italy


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Stock drop of 40% to 50% is fair value: Morgan Street Capital

In fact, he says, fair value for equities would be down about 40 percent to 50 percent. However, that doesn’t necessarily mean the stock market will have to go to fair value, Yusko said. Yusko, a noted stock picker who took first place in Portfolios with Purpose’s fantasy stock-picking contest in 2016, predicts a recession in the first or second quarter of 2019. In the back part of 2000, the stock market went down, 2001 brought a recession, and in 2002 the stock market took a big turn down. The


In fact, he says, fair value for equities would be down about 40 percent to 50 percent. However, that doesn’t necessarily mean the stock market will have to go to fair value, Yusko said. Yusko, a noted stock picker who took first place in Portfolios with Purpose’s fantasy stock-picking contest in 2016, predicts a recession in the first or second quarter of 2019. In the back part of 2000, the stock market went down, 2001 brought a recession, and in 2002 the stock market took a big turn down. The
Stock drop of 40% to 50% is fair value: Morgan Street Capital Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michelle fox
Keywords: news, cnbc, companies, yields, market, 40, trading, stock, street, 50, fair, capital, going, recession, morgan, drop, value, quarter, yusko, lower


Stock drop of 40% to 50% is fair value: Morgan Street Capital

Morgan Creek CEO: Markets will get back to normal, but ‘normal is a long way down from here’ 4 Hours Ago | 03:45

Investors should brace themselves for a significant stock market correction, as well as a recession in the first half of next year, investor Mark Yusko warned on Thursday.

In fact, he says, fair value for equities would be down about 40 percent to 50 percent. However, that doesn’t necessarily mean the stock market will have to go to fair value, Yusko said.

“If interest rates keep normalizing, if liquidity keeps falling, if earnings go to where I think they are going to go, which is lower, I think we are going to have a meaningful correction,” the founder and chief investment officer at Morgan Creek Capital said on CNBC’s “Power Lunch.”

Yusko, a noted stock picker who took first place in Portfolios with Purpose’s fantasy stock-picking contest in 2016, predicts a recession in the first or second quarter of 2019.

“Things are paying out now just like they did in 2000, 2001, 2002,” he said. In the back part of 2000, the stock market went down, 2001 brought a recession, and in 2002 the stock market took a big turn down.

“It’s just going to be painful for a while to adjust this overvaluation,” Yusko added.

Stocks seesawed in the red in volatile trading on Thursday. The Dow Jones Industrial Average plunged by more than 650 points in afternoon trading, a day after the blue-chip index plunged nearly 832 points, or 3.15 percent. The recent rapid rise in bond yields has been weighing on equities, adding to concerns about the future for Federal Reserve monetary policy. On Thursday, Treasury yields fell from multiyear highs after weaker-than-expected inflation data.

Yusko also questioned whether the economy is really strong.

“We had one good quarter. We’ve been sub 2 percent [economic growth] for six years,” he said.

Plus, forecasts are that gross domestic product is going to be lower than expectations in the third quarter and even lower in the fourth quarter, and there are bad demographics and bad debt, he added.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michelle fox
Keywords: news, cnbc, companies, yields, market, 40, trading, stock, street, 50, fair, capital, going, recession, morgan, drop, value, quarter, yusko, lower


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Trump to visit North Carolina as waterways rise

“We continue to feel the effects of this massive storm,” North Carolina Governor Roy Cooper said on Tuesday. Florence has already killed at least 35 people, including 26 in North Carolina and eight in South Carolina where local media reported that two mental health patients drowned on Tuesday when the sheriff’s van the women were in crashed. At least 16 rivers remained at a major flood stage with three others set to crest in the coming days in North Carolina, the state said. More than 1,100 road


“We continue to feel the effects of this massive storm,” North Carolina Governor Roy Cooper said on Tuesday. Florence has already killed at least 35 people, including 26 in North Carolina and eight in South Carolina where local media reported that two mental health patients drowned on Tuesday when the sheriff’s van the women were in crashed. At least 16 rivers remained at a major flood stage with three others set to crest in the coming days in North Carolina, the state said. More than 1,100 road
Trump to visit North Carolina as waterways rise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-19  Authors: win mcnamee, getty images
Keywords: news, cnbc, companies, north, trump, carolina, river, rise, fair, state, city, roads, crest, bluff, according, visit, waterways


Trump to visit North Carolina as waterways rise

More than 15,000 people remain in shelters and more than 200,000 customers are without power across North Carolina, six days after Florence made landfall as a Category 1 hurricane, according to state officials.

“We continue to feel the effects of this massive storm,” North Carolina Governor Roy Cooper said on Tuesday. “Even though there is no substantial rain in the forecast and the sun may be shining across many parts of our state, rivers continue to rise and we will see more flooding.”

The Cape Fear River was expected to crest at 61.5 feet (19 meters), quadrupling its normal height, on Wednesday in Fayetteville, a city of 200,000 in the southern part of the state near the Fort Bragg army base, according to the National Weather Service. That has disrupted efforts to restore power, clear roads and allow evacuated residents to go home.

“There is a strong potential that those who live within the 1-mile evacuation area of the Cape Fear River will be impacted by flooding,” the city said in a statement.

The city manager told CNN that 12,000 people are “in harm’s way.”

Florence has already killed at least 35 people, including 26 in North Carolina and eight in South Carolina where local media reported that two mental health patients drowned on Tuesday when the sheriff’s van the women were in crashed.

One person was killed in Virginia when the storm spawned about 16 tornadoes there on Monday, according to the National Weather Service.

Thousands of rescues have taken place in the Carolinas. Fire and rescue crews were waiting to go into many areas to assist with structural damage after Florence dumped up to 36 inches (91 cm) of rain in parts of North Carolina since Thursday.

At least 16 rivers remained at a major flood stage with three others set to crest in the coming days in North Carolina, the state said.

More than 1,100 roads were still closed across North Carolina, Cooper said, including several portions of interstates 40 and 95. In South Carolina, 40 major roads were closed.

In the town of Fair Bluff, North Carolina, which has struggled to recover from the devastation of Hurricane Matthew in 2016, only about 50 residents remained on Tuesday, Fair Bluff Police Chief Chris Chafin told Reuters.

The town has largely been cut off by flooding from the still-rising Lumber River, which was expected to crest on Wednesday.

Much of Columbus County, where Fair Bluff is located, was under water, according to Steve Abbott of the North Carolina Department of Transportation, with most roads closed and “driving not advised.”


Company: cnbc, Activity: cnbc, Date: 2018-09-19  Authors: win mcnamee, getty images
Keywords: news, cnbc, companies, north, trump, carolina, river, rise, fair, state, city, roads, crest, bluff, according, visit, waterways


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