Asia stocks decline amid fears of slowing US economy

Major Asian stock markets closed lower on Friday, following the release of U.S. retail data overnight which raised concerns over a slowing American economy. Investors await developments from the ongoing U.S-China trade negotiations in Beijing. Meanwhile, high level trade negotiations between China and the U.S. continued in Beijing as investors watched closely for developments. Elsewhere in Asia, Japan’s Nikkei 225 was down 1.13 percent to close at 20,900.63 while the Topix shed 0.79 percent to e


Major Asian stock markets closed lower on Friday, following the release of U.S. retail data overnight which raised concerns over a slowing American economy. Investors await developments from the ongoing U.S-China trade negotiations in Beijing. Meanwhile, high level trade negotiations between China and the U.S. continued in Beijing as investors watched closely for developments. Elsewhere in Asia, Japan’s Nikkei 225 was down 1.13 percent to close at 20,900.63 while the Topix shed 0.79 percent to e
Asia stocks decline amid fears of slowing US economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang
Keywords: news, cnbc, companies, slipped, shed, shares, investors, slowing, shenzhen, asia, close, rose, negotiations, trade, fears, economy, markets, stocks, amid, decline


Asia stocks decline amid fears of slowing US economy

Major Asian stock markets closed lower on Friday, following the release of U.S. retail data overnight which raised concerns over a slowing American economy. Investors await developments from the ongoing U.S-China trade negotiations in Beijing.

Mainland Chinese markets saw losses on the day. The Shanghai composite slipped 1.37 percent to close at 2,682.38 while the Shenzhen component declined 1.148 percent to finish its trading day at 8,125.63. The Shenzhen composite also declined 0.67 percent to close at 1,389.47..

Hong Kong’s Hang Seng index slipped 1.91 percent in its final hour of trading.

The moves came after Chinese inflation data for January missed expectations, coming in at 1.7 percent higher as compared to a year ago, the National Bureau of Statistics said on Friday. Economists polled by Reuters were expecting China’s Consumer Price Index to come in at 1.9 percent higher on year. December CPI — a gauge of prices for goods and services — rose 1.9 percent over the same period.

Meanwhile, high level trade negotiations between China and the U.S. continued in Beijing as investors watched closely for developments.

Elsewhere in Asia, Japan’s Nikkei 225 was down 1.13 percent to close at 20,900.63 while the Topix shed 0.79 percent to end at 1,577.29. Shares of Japanese conglomerate Softbank Group fell 4.4 percent.

South Korea’s Kospi shed 1.34 percent to close at 2,196.09 as shares of industry heavyweight Samsung Electronics and chipmaker SK Hynix fell 3.05 percent and 4.65 percent, respectively.

Australia’s ASX 200 bucked the overall trend in the region as it rose 0.11 percent to close at 6,066.10. The energy subindex rose 0.76 percent as oil stocks mostly gained. Santos advanced 0.75 percent, Woodside Petroleum gained 1.49 percent and Beach Energy added 2.17 percent.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang
Keywords: news, cnbc, companies, slipped, shed, shares, investors, slowing, shenzhen, asia, close, rose, negotiations, trade, fears, economy, markets, stocks, amid, decline


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Fears abound that another India-Pakistan crisis could erupt after Kashmir attack

A deadly attack on Indian-controlled Kashmir by Pakistani terrorists could prompt New Delhi to respond with punitive action that could set off a full-blown crisis between the historical enemies. More than 40 Indian security officers died on Thursday following a suicide attack in Pulwama, a district south of Srinagar under Indian control. Pakistan-based militant group Jaish-e-Mohammad, which is listed as a terrorist organization by the United States, has claimed responsibility for the incident. I


A deadly attack on Indian-controlled Kashmir by Pakistani terrorists could prompt New Delhi to respond with punitive action that could set off a full-blown crisis between the historical enemies. More than 40 Indian security officers died on Thursday following a suicide attack in Pulwama, a district south of Srinagar under Indian control. Pakistan-based militant group Jaish-e-Mohammad, which is listed as a terrorist organization by the United States, has claimed responsibility for the incident. I
Fears abound that another India-Pakistan crisis could erupt after Kashmir attack Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: nyshka chandran, waseem andrabi hindustan times via getty images, -moeed yusuf, us institute of peace
Keywords: news, cnbc, companies, kashmir, indiapakistan, terrorists, fears, indian, group, attack, pakistan, jaishemohammad, strongly, crisis, south, erupt, abound, respond


Fears abound that another India-Pakistan crisis could erupt after Kashmir attack

A deadly attack on Indian-controlled Kashmir by Pakistani terrorists could prompt New Delhi to respond with punitive action that could set off a full-blown crisis between the historical enemies.

More than 40 Indian security officers died on Thursday following a suicide attack in Pulwama, a district south of Srinagar under Indian control. Pakistan-based militant group Jaish-e-Mohammad, which is listed as a terrorist organization by the United States, has claimed responsibility for the incident.

India’s Prime Minister Narendra Modi has vowed to respond strongly to the brutality. “A befitting reply will be given to the perpetrators of the heinous attack and their patrons,” the popular politician said on Twitter Friday. “No force will succeed in disturbing peace, progress and stability of India.”

The incident drew a barrage of international criticism toward Islamabad for failing to sufficiently crack down on domestic terrorists and terror financing — a longstanding issue that’s landed the South Asian nation on global financial blacklists. Jaish-e-Mohammad is banned in Pakistan but the group is still believed to operate in the country.

In a two-line statement, Pakistan’s Ministry of Foreign Affairs said the country has “always condemned heightened acts of violence” in Kashmir and that it will “strongly reject any insinuation by elements in the Indian government and media circles that seek to link the attack to the State of Pakistan without investigations.”


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: nyshka chandran, waseem andrabi hindustan times via getty images, -moeed yusuf, us institute of peace
Keywords: news, cnbc, companies, kashmir, indiapakistan, terrorists, fears, indian, group, attack, pakistan, jaishemohammad, strongly, crisis, south, erupt, abound, respond


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Kering’s Gucci joins peers in defying China fears

Luxury goods group Kering joined competitors in defying concerns of waning demand in China, as momentum at its powerhouse Gucci slowed slightly in the fourth quarter but still outperformed most other fashion brands. “Sales among our Chinese clientele remained very dynamic in the fourth quarter, even with a high comparative base,” Financial Director Jean-Marc Duplaix told journalists on Tuesday, adding that spending by these customers had shifted from overseas to mainland China. The group’s Itali


Luxury goods group Kering joined competitors in defying concerns of waning demand in China, as momentum at its powerhouse Gucci slowed slightly in the fourth quarter but still outperformed most other fashion brands. “Sales among our Chinese clientele remained very dynamic in the fourth quarter, even with a high comparative base,” Financial Director Jean-Marc Duplaix told journalists on Tuesday, adding that spending by these customers had shifted from overseas to mainland China. The group’s Itali
Kering’s Gucci joins peers in defying China fears Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: christian vierig, getty images
Keywords: news, cnbc, companies, gucci, label, billion, quarter, luxury, kering, sales, italian, china, tax, kerings, joins, peers, defying, fourth, neck, fears


Kering's Gucci joins peers in defying China fears

Luxury goods group Kering joined competitors in defying concerns of waning demand in China, as momentum at its powerhouse Gucci slowed slightly in the fourth quarter but still outperformed most other fashion brands.

Like its peers, Paris-based Kering, which also owns Saint Laurent and Balenciaga, has been under scrutiny over whether demand among Chinese shoppers, who account for over a third of industry sales, can hold up.

The firm’s comparable sales rose a higher-than-expected 24.2 percent in the October to December period, when stripping out currency swings and acquisitions, and were up 24.5 percent on a reported basis to 3.8 billion euros ($4.29 billion).

“Sales among our Chinese clientele remained very dynamic in the fourth quarter, even with a high comparative base,” Financial Director Jean-Marc Duplaix told journalists on Tuesday, adding that spending by these customers had shifted from overseas to mainland China.

The group’s Italian label Gucci held on to its crown as one of the luxury world’s fastest-growing brands. Comparable sales growth of 28.1 percent in the fourth quarter marked a slowdown from the previous three months but far exceeded that of rivals, while margins reached a record 39.5 percent in 2018.

Gucci’s might – with annual sales of 8.3 billion euros putting it neck and neck with privately-owned Chanel behind LVMH’s Louis Vuitton as the top luxury label by sales – has raised questions about Kering’s reliance on the label.

It accounted for over 80 percent of the group’s operating income in 2018.

Gucci has also been in the spotlight over a tax investigation in Italy, where Kering faces a potential 1.4 billion euro bill for allegedly avoiding tax on earnings generated by the Italian label and billed to a Swiss subsidiary.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: christian vierig, getty images
Keywords: news, cnbc, companies, gucci, label, billion, quarter, luxury, kering, sales, italian, china, tax, kerings, joins, peers, defying, fourth, neck, fears


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Why fears of fake news are overhyped

In particular, fake news consumers may be especially important in party politics, which is highly responsive to people with intense preferences who vote in primaries. Most important, fake news websites distort and demean public debate in our democracy by spreading untruths. In addition, fake news exposure may intensify the intense loathing that partisans increasingly feel toward the opposition party. We find no measurable effect of exposure to a single fake news article on feelings toward the op


In particular, fake news consumers may be especially important in party politics, which is highly responsive to people with intense preferences who vote in primaries. Most important, fake news websites distort and demean public debate in our democracy by spreading untruths. In addition, fake news exposure may intensify the intense loathing that partisans increasingly feel toward the opposition party. We find no measurable effect of exposure to a single fake news article on feelings toward the op
Why fears of fake news are overhyped Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: brendan nyhan, kevin lemarque
Keywords: news, cnbc, companies, effects, facebook, fake, opposition, exposure, especially, fears, important, reach, overhyped, party, youtube


Why fears of fake news are overhyped

These findings do not alleviate every concern about fake news, of course. First, even if relatively few people consume fake news, those consumers may be especially politically active and thus disproportionately influential in our politics. In particular, fake news consumers may be especially important in party politics, which is highly responsive to people with intense preferences who vote in primaries. Fake news readers are also likely to disseminate the information they encounter from fake news websites via online and social networks, indirectly exposing many more people than would consume it directly.

Second, fake news is likely to have negative effects that extend beyond election outcomes. Most important, fake news websites distort and demean public debate in our democracy by spreading untruths. In addition, fake news exposure may intensify the intense loathing that partisans increasingly feel toward the opposition party. Content on these sites often portrays opposition candidates and party members in vitriolic terms, claiming, for instance, that Hillary Clinton sold weapons to ISIS. We find no measurable effect of exposure to a single fake news article on feelings toward the opposition party, but the effects of fake news exposure may accumulate over time.

Third, more needs to be learned about how to most effectively counter fake news. Providing online fact-checks reduces belief in headlines from these sites, but the scale of Facebook and other platforms outstrips the capacity of fact-checkers to keep up. Further interventions would therefore necessarily rely on algorithms, which would outsource further power over political speech to private companies. Another important answer is education, but current efforts to promote digital literacy have not been carefully tested and will struggle to reach the older Americans who are overrepresented in the fake news audience. Moreover, we must be careful to teach people to distinguish between good and bad information rather than promoting generalized cynicism. Broad warnings about fake news can create unintended spillovers that reduce belief in legitimate news coverage.

We found that the reach of fake news declined dramatically in the period before the 2018 midterm elections.

Fourth, relatively little is known about the effects of video. Amplification of extremism and false content is especially worrisome on YouTube given the amount of time some audiences spend on the platform and the way its algorithms may amplify misinformation (though YouTube now says it is trying to limit the reach of dubious content ). However, the claim that YouTube radicalizes large numbers of viewers is still a conjecture based on anecdotes that consider only the people who become extremists (not the vast majority, who do not).

Finally, the unprecedented scale of Facebook has created a dangerously alluring target that invites endless attacks from both fake news entrepreneurs and political opportunists. The company’s resources allow it to deploy unprecedented countermeasures to defend itself, but we are concentrating risk in a single closed platform. Inevitably, Facebook’s defenses will fail again, and, as in 2016, we may not realize that such a failure has taken place until it is too late. These failures can be especially pernicious in less developed democracies and authoritarian states, where Facebook and WhatsApp have already been linked to violence. (Disclosure: I have received funding from the company to study how to counter misinformation on WhatsApp in India.)


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: brendan nyhan, kevin lemarque
Keywords: news, cnbc, companies, effects, facebook, fake, opposition, exposure, especially, fears, important, reach, overhyped, party, youtube


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EU cuts Germany’s growth prospects with fears over global trade

Traditionally seen as the powerhouse of Europe, Germany’s economy is starting to cause concern with uncertainties over global trade and the car manufacturing industry. The European Commission, the EU’s executive arm, revised down its growth forecasts for the country on Thursday. It’s now expected to grow by 1.1 percent this year, from a previous forecast of 1.8 percent. The region is now set to grow 1.3 percent this year, from a previous forecast of 1.9 percent. German bond yields dropped to the


Traditionally seen as the powerhouse of Europe, Germany’s economy is starting to cause concern with uncertainties over global trade and the car manufacturing industry. The European Commission, the EU’s executive arm, revised down its growth forecasts for the country on Thursday. It’s now expected to grow by 1.1 percent this year, from a previous forecast of 1.8 percent. The region is now set to grow 1.3 percent this year, from a previous forecast of 1.9 percent. German bond yields dropped to the
EU cuts Germany’s growth prospects with fears over global trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: silvia amaro, michele tantussi, getty images news, getty images
Keywords: news, cnbc, companies, grow, global, fears, previous, cuts, tensions, germanys, trade, growth, going, commission, affect, germany, prospects, eu


EU cuts Germany's growth prospects with fears over global trade

Traditionally seen as the powerhouse of Europe, Germany’s economy is starting to cause concern with uncertainties over global trade and the car manufacturing industry.

The European Commission, the EU’s executive arm, revised down its growth forecasts for the country on Thursday. It’s now expected to grow by 1.1 percent this year, from a previous forecast of 1.8 percent. The Commission also lowered its prospects for the euro area as a whole. The region is now set to grow 1.3 percent this year, from a previous forecast of 1.9 percent.

“In the case of Germany we see that there are certainly some short-term factors in play,” Valdis Dombrovskis, vice president of the Commission, told CNBC’s Willem Marx in Brussels.

“If we discuss global trade tensions, if we discuss the slowdown in emerging economies including China, it’s going to affect the economies of countries which are relying on exports to a large extent, and Germany is by far the EU’s largest exporting economy,” he said.

“So, if there are tensions and uncertainty around trade, of course it’s going to affect the exports and it’s going to affect the economic growth (of Germany), so this is something that we need to watch very closely,” he added.

German bond yields dropped to their lowest level in over two years after the announcement, according to Reuters.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: silvia amaro, michele tantussi, getty images news, getty images
Keywords: news, cnbc, companies, grow, global, fears, previous, cuts, tensions, germanys, trade, growth, going, commission, affect, germany, prospects, eu


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As earnings recession fears grip Wall Street, three experts weigh in on what’s next

Fears of an earnings recession are cropping up in the market as company profits are expected decline for the first time in two years. Earnings were all over the place, and we now are going to have this additional impact with the federal government shutdown,” said Nourse. There’s going to be a lot of companies, I think, that are going to be very negatively impacted by what has happened.” • Credit Suisse’s chief U.S. equity strategist, Jonathan Golub, said the main obstacle in the way of EPS growt


Fears of an earnings recession are cropping up in the market as company profits are expected decline for the first time in two years. Earnings were all over the place, and we now are going to have this additional impact with the federal government shutdown,” said Nourse. There’s going to be a lot of companies, I think, that are going to be very negatively impacted by what has happened.” • Credit Suisse’s chief U.S. equity strategist, Jonathan Golub, said the main obstacle in the way of EPS growt
As earnings recession fears grip Wall Street, three experts weigh in on what’s next Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: tyler bailey, drew angerer, getty images, brendan mcdermid, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, weigh, whats, quarter, golub, wall, street, going, think, fears, eps, know, experts, recession, theres, market, grip, earnings, growth


As earnings recession fears grip Wall Street, three experts weigh in on what's next

Fears of an earnings recession are cropping up in the market as company profits are expected decline for the first time in two years.

While the possibility wouldn’t necessarily signal an economic recession to follow, it paints an important picture of flattening growth trends and a looming global slowdown.

Three experts weigh in on whether or not the markets can outlast earnings woes:

• Rene Nourse, founder and CEO of Urban Wealth Management, said that the first half of 2019 is up in the air. “Last year, we all know, was a very volatile time. Earnings were all over the place, and we now are going to have this additional impact with the federal government shutdown,” said Nourse. “So the initial impact we see with GDP growth, for example, for the fourth quarter is going to be down one-tenth of a percent. … But that’s a preliminary number. There’s going to be a lot of companies, I think, that are going to be very negatively impacted by what has happened.”

• Credit Suisse’s chief U.S. equity strategist, Jonathan Golub, said the main obstacle in the way of EPS growth is still the astronomical standards set in 2018. “Last year, you know, third quarter, you had 27.5 percent EPS,” said Golub. “The question isn’t how bad is, you know, the first or second quarter of 2019. Why were things so good, and how can you do well against those ridiculous comps? If you look, like, the two-year average number, you’re looking at 10 percent EPS.” Rather than a prelude to an economic downturn, Golub sees lower earnings growth as a correction of expectations. “What you really had was, energy was on fire, the semiconductors cycle was on fire, a lot of these internet companies were on fire, and the comps have just made it a little bit more difficult,” said Golub, “But I think everything is fine, and the market sees through what will be a downturn in earnings.”

• Kari Firestone, chairman and CEO of Aureus Asset Management, also believes there’s a light at the end of the tunnel, but that further slipping could lead to worrisome conditions. “The guidance has been reasonably good – not terrible, not great – but, I think, better than expected. If we can hold there, and have earnings grow in the 8 percent range, we can, I’d say, feel comfortable with this level of valuation,” said Firestone, “If we slip back into the low single digits, of course I think it makes it very hard to keep the market going higher.”


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: tyler bailey, drew angerer, getty images, brendan mcdermid, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, weigh, whats, quarter, golub, wall, street, going, think, fears, eps, know, experts, recession, theres, market, grip, earnings, growth


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Gold steady as Trump speech stokes fears of government shutdown

Spot gold was steady at $1,314.30 per ounce, as of 0546 GMT. U.S. gold futures were also steady at $1,318.20 an ounce. “There is a likely risk of another government shutdown with President Trump still sticking to the rhetoric of erecting a border wall,” said Hitesh Jain, vice president, Yes Securities, adding that a firmer dollar was capping gold’s gains. Trump’s demand for $5.7 billion in funding for a U.S.-Mexico border wall triggered a historic 35-day partial government shutdown, which ended


Spot gold was steady at $1,314.30 per ounce, as of 0546 GMT. U.S. gold futures were also steady at $1,318.20 an ounce. “There is a likely risk of another government shutdown with President Trump still sticking to the rhetoric of erecting a border wall,” said Hitesh Jain, vice president, Yes Securities, adding that a firmer dollar was capping gold’s gains. Trump’s demand for $5.7 billion in funding for a U.S.-Mexico border wall triggered a historic 35-day partial government shutdown, which ended
Gold steady as Trump speech stokes fears of government shutdown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: leonhard foeger
Keywords: news, cnbc, companies, wall, trade, gold, dollar, trump, president, steady, fears, stokes, border, week, vowed, shutdown, speech


Gold steady as Trump speech stokes fears of government shutdown

Gold prices held firm on Wednesday after U.S. President Donald Trump, in his State of the Union speech, vowed to build a border wall and gave little clarity over the ongoing trade discussions with China, but a firmer dollar capped bullion’s gains.

Spot gold was steady at $1,314.30 per ounce, as of 0546 GMT.

U.S. gold futures were also steady at $1,318.20 an ounce.

Trump spoke in the chamber of the House of Representatives facing political discord over his demands that Democrats end their opposition to funding for a border wall he says is needed to stem illegal immigration and smuggled drugs.

“There is a likely risk of another government shutdown with President Trump still sticking to the rhetoric of erecting a border wall,” said Hitesh Jain, vice president, Yes Securities, adding that a firmer dollar was capping gold’s gains.

“Market participants remain cognizant of the fact that global macro numbers are slowing. Gold as an investment avenue remains very much in the reckoning.”

Trump’s demand for $5.7 billion in funding for a U.S.-Mexico border wall triggered a historic 35-day partial government shutdown, which ended on Jan. 25.

Trump has threatened to resume the shutdown if he is dissatisfied with the negotiations.

The dollar index stood near a two-week high.

Meanwhile, Dallas Federal Reserve President Robert Kaplan said on Tuesday that the Fed should leave interest rates where they are until the U.S. economic outlook is clearer, a process that in his view could take several more months.

The U.S. central bank last week promised to be “patient” in rate moves due to impending slowdown and uncertain trade backdrop.

While Trump’s address did not have anything significant on U.S-China trade front, senior U.S. and Chinese officials are poised to start another round of trade talks in Beijing next week, according to sources.

Trump has vowed to increase tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent currently if the two sides cannot reach a deal by 12:01 a.m. (0501 GMT) on March 2.

“For a very short term, the narrowing of trading range (in gold) is possible because the better-than-expected U.S. non-farm payroll makes it less likely for the Fed to be accommodative,” Wing Fung said in a research note.

Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, dropped 0.18 percent on Tuesday. Holdings have dropped for three straight sessions.

Liquidity remained low as China and several other markets in Asia still closed for the Lunar New Year holiday.

Among other precious metals, palladium dipped 0.2 percent to $1,379 per ounce.

Silver was down 0.3 percent at $15.79, and platinum edged 0.1 percent lower to $815.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: leonhard foeger
Keywords: news, cnbc, companies, wall, trade, gold, dollar, trump, president, steady, fears, stokes, border, week, vowed, shutdown, speech


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Arms race fears spike over alleged Saudi Arabia ballistic missile site

Satellite imagery reportedly revealing a ballistic missile facility deep in the Saudi desert spotlights Riyadh’s increased investment in its independent warfighting capabilities, U.S. defense experts say. “There’s an arms race underway,” Michael Rubin, a former Pentagon official and Arab affairs expert at the American Enterprise Institute, told CNBC. “Whiplash policy changes in Washington have had their impact on Riyadh: Saudi authorities are no longer going to be constrained by White House whis


Satellite imagery reportedly revealing a ballistic missile facility deep in the Saudi desert spotlights Riyadh’s increased investment in its independent warfighting capabilities, U.S. defense experts say. “There’s an arms race underway,” Michael Rubin, a former Pentagon official and Arab affairs expert at the American Enterprise Institute, told CNBC. “Whiplash policy changes in Washington have had their impact on Riyadh: Saudi authorities are no longer going to be constrained by White House whis
Arms race fears spike over alleged Saudi Arabia ballistic missile site Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: natasha turak, fayez nureldine, afp, getty images, planet labs inc, middlebury institute of international studies, atta kenare, -bruce riedel, former cia officer, gulf affairs expert
Keywords: news, cnbc, companies, alleged, spike, testing, fears, weapons, arms, race, missile, experts, site, arabia, washington, ballistic, international, institute, defense, saudi


Arms race fears spike over alleged Saudi Arabia ballistic missile site

Satellite imagery reportedly revealing a ballistic missile facility deep in the Saudi desert spotlights Riyadh’s increased investment in its independent warfighting capabilities, U.S. defense experts say.

This, they believe, indicates a growing desire by the longtime ally to be able to take offensive measures without the approval of its main weapons sponsors in Washington.

“There’s an arms race underway,” Michael Rubin, a former Pentagon official and Arab affairs expert at the American Enterprise Institute, told CNBC. “Whiplash policy changes in Washington have had their impact on Riyadh: Saudi authorities are no longer going to be constrained by White House whispers. The Saudis are demonstrating that they can take matters into their own hands.”

Images analyzed by missile defense experts at the Middlebury Institute of International Studies in Monterey, California, and first reported by The Washington Post, appear to show the testing and possible manufacturing of ballistic missiles. These can carry nuclear warheads to targets thousands of miles from their launch point. International powers have sanctioned Iran for its own frequent testing of the weapons.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: natasha turak, fayez nureldine, afp, getty images, planet labs inc, middlebury institute of international studies, atta kenare, -bruce riedel, former cia officer, gulf affairs expert
Keywords: news, cnbc, companies, alleged, spike, testing, fears, weapons, arms, race, missile, experts, site, arabia, washington, ballistic, international, institute, defense, saudi


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Those recession fears now seem way overblown after ‘scorching’ jobs and manufacturing data

Whoever it is, you can forget about it after a picture-perfect jobs report to start the year off right,” wrote Chris Rupkey, chief financial economist at MUFG. It’s still a good number. Treasury yields rose and stocks futures rallied early after the jobs report showed strong growth in leisure, construction, health care, transportation and warehousing employment. Nothing, but nothing is getting in the way of onboarding new employees to work the factory floors and staff the shops and malls across


Whoever it is, you can forget about it after a picture-perfect jobs report to start the year off right,” wrote Chris Rupkey, chief financial economist at MUFG. It’s still a good number. Treasury yields rose and stocks futures rallied early after the jobs report showed strong growth in leisure, construction, health care, transportation and warehousing employment. Nothing, but nothing is getting in the way of onboarding new employees to work the factory floors and staff the shops and malls across
Those recession fears now seem way overblown after ‘scorching’ jobs and manufacturing data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: patti domm, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, workers, employment, way, shutdown, manufacturing, number, recession, growth, jobs, data, scorching, good, thats, fears, report, overblown


Those recession fears now seem way overblown after 'scorching' jobs and manufacturing data

The unemployment rate ticked up to 4 percent from 3.9 percent, as more workers looked for jobs.December’s payrolls were revised down to 222,000 from 312,000, but November was revised higher to 196,000 from 176,000.

“Who is calling for a recession this year again? Whoever it is, you can forget about it after a picture-perfect jobs report to start the year off right,” wrote Chris Rupkey, chief financial economist at MUFG.

The government shutdown may have shown up in a jump of 500,000 in the number of people employed part time for economic reasons, according to the Bureau of Labor Statistics.

Diane Swonk, chief economist at Grant Thornton, said the government workers and contractors, who also weren’t paid in the 35-day shutdown, may have found part-time jobs and temporarily boosted the total non farm payroll number.

The big surge in part-time employment likely includes contractors who worked for the government and other workers that were impacted in addition to government workers, she said. That could reverse and continue to muddy the employment data.

“They were doing more than Uber. They boosted the payroll data,” she said. “That’s basically someone going out and getting a job to pay their expenses. It’s more than just the government workers…The good news is a lot of them got some part time work.”

But job growth is still running at a solid pace. “It’s still probably about 200,000. It’s still a good number. The composition was good with manufacturing and construction up. That’s always good,” she said. “These numbers show the consumer is still there to carry the day, for the moment…We’ll get a much better read as we get through the quarter.”

“If you look at the December [jobs] revision, and the number we got, it continues to show a firm trend,” said John Briggs, head of strategy at NatWest. “We haven’t seen recession fears spillover into the corporate hiring picture. It’s not as firmly solid as last month where you had every indicator, including the household survey strong. But it certainly pushes back recent concerns, at least on hiring.”

Treasury yields rose and stocks futures rallied early after the jobs report showed strong growth in leisure, construction, health care, transportation and warehousing employment. The 2-year Treasury yield, which reflects Fed policy, rose to 2.48 percent and moved to 2.51, its high of the session after the ISM report.

“Net, net, it’s full speed ahead for the economy this year if today’s blockbuster report on new jobs is to be believed, and we think it is,” Rupkey notes. “U.S. companies have not let up one bit on their hiring in response to risks out there in the world economy, chiefly China and Europe, the Federal government shutdown, the economic war with China. Nothing, but nothing is getting in the way of onboarding new employees to work the factory floors and staff the shops and malls across America.”

WATCH: Michelle Meyer says recession risks higher, but slower growth more likely


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: patti domm, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, workers, employment, way, shutdown, manufacturing, number, recession, growth, jobs, data, scorching, good, thats, fears, report, overblown


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European stocks open higher despite US-China trade fears

Britain’s FTSE 100 was 14 points higher at 6,838, Germany’s DAX was 77 points higher at 11,198, and France’s CAC was 23 points higher at 4,894, according to IG index data. A big focus for investors this week has been the unresolved trade battle between Washington and Beijing. Commerce Secretary Wilbur Ross told CNBC on Thursday that the U.S. and China are “miles and miles” away from reaching agreement on their trade issues. Meanwhile, the European Central Bank held interest rates steady on Thurs


Britain’s FTSE 100 was 14 points higher at 6,838, Germany’s DAX was 77 points higher at 11,198, and France’s CAC was 23 points higher at 4,894, according to IG index data. A big focus for investors this week has been the unresolved trade battle between Washington and Beijing. Commerce Secretary Wilbur Ross told CNBC on Thursday that the U.S. and China are “miles and miles” away from reaching agreement on their trade issues. Meanwhile, the European Central Bank held interest rates steady on Thurs
European stocks open higher despite US-China trade fears Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: ryan browne
Keywords: news, cnbc, companies, points, later, stocks, higher, european, miles, euro, released, trying, trade, open, despite, uschina, countries, firm, fears


European stocks open higher despite US-China trade fears

Britain’s FTSE 100 was 14 points higher at 6,838, Germany’s DAX was 77 points higher at 11,198, and France’s CAC was 23 points higher at 4,894, according to IG index data.

A big focus for investors this week has been the unresolved trade battle between Washington and Beijing. The two countries have been trying to find agreement over a 90-day tariffs truce, but talks appeared to hit a roadblock following a report that the Trump administration had cancelled a trade planning meeting with Chinese counterparts due to outstanding disagreements.

Commerce Secretary Wilbur Ross told CNBC on Thursday that the U.S. and China are “miles and miles” away from reaching agreement on their trade issues. The two countries are trying to meet a Mar. 1 deadline to reach a deal.

Ross’ comments put pressure on U.S. equities on Thursday, with the major bourses closing mixed.

Meanwhile, the European Central Bank held interest rates steady on Thursday, and President Mario Draghi sounded the alarm on risks surrounding the euro area. The central bank’s chief warned on a “persistence of uncertainties related to geopolitical factors and the threat of protectionism, vulnerabilities in emerging markets and financial market volatility.”

Draghi’s comments sent the euro lower to a one-month low. However, the currency later broke off from that trend, rising 0.14 percent against the dollar at $1.1321.

In corporate news, Swedish telecommunications firm Ericsson released its earnings statement on Friday. The firm said that fourth-quarter sales rose 10 percent from the previous year. U.K. rival Vodafone is set to post its financials later today.

As for data, German Ifo Business Climate numbers will be released at 9 a.m. London time.


Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: ryan browne
Keywords: news, cnbc, companies, points, later, stocks, higher, european, miles, euro, released, trying, trade, open, despite, uschina, countries, firm, fears


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