Gold steadies as equities dip; focus turns to Fed minutes

Spot gold inched up 0.1% to $1,278.41 per ounc, having touched its lowest since May 3 at $1,273.22. “With equities trading lower, gold is expected to trade a little higher going into the Fed minutes on expectations that there is no immediate rate increase coming for the rest of the year,” said Bob Haberkorn, senior market strategist at RJO Futures. Gold tends to appreciate on expectations of lower interest rates, which reduce the opportunity cost of holding non-yielding bullion. “We have equitie


Spot gold inched up 0.1% to $1,278.41 per ounc, having touched its lowest since May 3 at $1,273.22. “With equities trading lower, gold is expected to trade a little higher going into the Fed minutes on expectations that there is no immediate rate increase coming for the rest of the year,” said Bob Haberkorn, senior market strategist at RJO Futures. Gold tends to appreciate on expectations of lower interest rates, which reduce the opportunity cost of holding non-yielding bullion. “We have equitie
Gold steadies as equities dip; focus turns to Fed minutes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-20
Keywords: news, cnbc, companies, dollar, ounce, steadies, focus, equities, trade, twoweek, touched, gold, dip, trading, turns, fed, minutes, rates, lower


Gold steadies as equities dip; focus turns to Fed minutes

An amphora filled with ancient gold Roman coins found in the Cressoni theatre complex is seen in Como Italy, September 5, 2018.

Gold steadied on Monday after recovering slightly from a more than two-week low hit earlier in the session, as equity markets fell ahead of the U.S. Federal Reserve’s release of minutes from its last meeting.

Spot gold inched up 0.1% to $1,278.41 per ounc, having touched its lowest since May 3 at $1,273.22.

U.S. gold futures settled $1.50 higher at $1,282.90.

“With equities trading lower, gold is expected to trade a little higher going into the Fed minutes on expectations that there is no immediate rate increase coming for the rest of the year,” said Bob Haberkorn, senior market strategist at RJO Futures.

Investors shifted focus to the Fed minutes due on Wednesday, which is expected to provide insights into the May 1 central bank meeting in which policymakers decided to keep interest rates steady and signaled little appetite to adjust them any time soon.

Gold tends to appreciate on expectations of lower interest rates, which reduce the opportunity cost of holding non-yielding bullion.

Global stocks took a hit as concerns mounted about an escalating fallout from a U.S. crackdown on China’s Huawei Technologies Co Ltd, intensifying a prolonged trade war between the world’s two biggest economics.

The greenback limited bullion’s appeal as the dollar index held near a two-week high. Last week the index posted the biggest weekly rise since early March, supported by robust U.S. housing data and a report pointing to lower unemployment.

“We have equities trading lower with all the geo-political news out there, yet gold can’t sustain any rally. There seems to be a flight to safety into the dollar because of the better economic data coming out of the U.S.,” Haberkorn said.

While gold is a safe store of value during times of uncertainty, investors are preferring the dollar, as they did last year during the U.S.-China trade spat.

Iran was served a new warning by U.S. President Donald Trump, who tweeted that if the country wanted to fight, that would be Iran’s “official end.”

On the technical side, “$1,265 is now a critical support that must hold. A daily close below that region implies a much deeper correction could be imminent,” OANDA analyst Jeffrey Halley said in a note.

Among other metals, silver was up 0.5% at $14.47 an ounce, having touched a more than five-month low at $14.33.

Platinum edged 0.1% lower at $812.40 per ounce, while palladium rose 1.5% to $1,329.90.


Company: cnbc, Activity: cnbc, Date: 2019-05-20
Keywords: news, cnbc, companies, dollar, ounce, steadies, focus, equities, trade, twoweek, touched, gold, dip, trading, turns, fed, minutes, rates, lower


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Fed speakers could steal focus from trade war in week ahead

A flurry of Fed speakers and any new trade developments could shake up what normally might be a slow week of trading ahead of the three-day Memorial Day holiday weekend. Stocks ended the past week with losses, as trade-related headlines caused big swings in the market. The Dow ended the week with a 0.7% loss to 25,764 in its fourth negative week. The Nasdaq lost even more, 1.2% for the week, after U.S. action against China’s Huawei depressed U.S. tech names that do business in China. The U.S. ra


A flurry of Fed speakers and any new trade developments could shake up what normally might be a slow week of trading ahead of the three-day Memorial Day holiday weekend. Stocks ended the past week with losses, as trade-related headlines caused big swings in the market. The Dow ended the week with a 0.7% loss to 25,764 in its fourth negative week. The Nasdaq lost even more, 1.2% for the week, after U.S. action against China’s Huawei depressed U.S. tech names that do business in China. The U.S. ra
Fed speakers could steal focus from trade war in week ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: patti domm
Keywords: news, cnbc, companies, billion, raised, ended, speakers, huawei, losses, china, fed, trade, focus, 25, steal, tariffs, week, ahead, war


Fed speakers could steal focus from trade war in week ahead

A flurry of Fed speakers and any new trade developments could shake up what normally might be a slow week of trading ahead of the three-day Memorial Day holiday weekend.

Stocks ended the past week with losses, as trade-related headlines caused big swings in the market. The Dow ended the week with a 0.7% loss to 25,764 in its fourth negative week. The S&P 500 fell for a second week, losing 0.8% to 2,859. The Nasdaq lost even more, 1.2% for the week, after U.S. action against China’s Huawei depressed U.S. tech names that do business in China.

Friday ended with losses in the final hour, after CNBC’s Kayla Tausche reported that talks between the U.S. and China appear to have stalled, and there have been no discussions on scheduling a new round.

“With the trade stuff, this is brass knuckles time. When you institute tariffs…when you go to 25% like we just did, all of a sudden there’s no room for error,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “The stakes are so much greater at 25%, and if we did the other $300 billion dollars, then we start damaging the consumer and you can guarantee a global recession.”

The U.S. raised tariffs last week from 10% to 25% on $200 billion in goods, and China responded by raising tariffs on $60 billion in goods.

Boockvar, like others, had been looking for a trade deal earlier in the month, but there has been no sign of positive movements, and the crackdown on Huawei raised concerns about China retaliating against U.S. companies.

“China is not bending and with Trump taunting them, they’re pissed. It still remains the case that everyone wants a deal , It’s in everyone’s best interest. It’s tough to negotiate when you get hit in the head with a baseball bat,” said Boockvar.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: patti domm
Keywords: news, cnbc, companies, billion, raised, ended, speakers, huawei, losses, china, fed, trade, focus, 25, steal, tariffs, week, ahead, war


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Beyond Meat CEO: We’re focused on the meat industry, not other vegetarian options

Beyond Meat isn’t thinking as much about other makers of plant-based meat substitutes — like rival Impossible Foods or Nestle — as it is on taking down the mammoth meat industry. “We really don’t focus on the plant-based meat sector as much as we focus on the meat sector itself. That’s a $1.4 trillion industry with just incredible diversity and potential globally,” Beyond Meat CEO Ethan Brown said on CNBC’s “Fast Money: Halftime Report ” seconds after the company’s stock began trading. U.S. cons


Beyond Meat isn’t thinking as much about other makers of plant-based meat substitutes — like rival Impossible Foods or Nestle — as it is on taking down the mammoth meat industry. “We really don’t focus on the plant-based meat sector as much as we focus on the meat sector itself. That’s a $1.4 trillion industry with just incredible diversity and potential globally,” Beyond Meat CEO Ethan Brown said on CNBC’s “Fast Money: Halftime Report ” seconds after the company’s stock began trading. U.S. cons
Beyond Meat CEO: We’re focused on the meat industry, not other vegetarian options Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: amelia lucas
Keywords: news, cnbc, companies, market, plantbased, meat, company, beef, vegetarian, health, ceo, brown, world, focused, industry, options, sector, focus


Beyond Meat CEO: We're focused on the meat industry, not other vegetarian options

Beyond Meat isn’t thinking as much about other makers of plant-based meat substitutes — like rival Impossible Foods or Nestle — as it is on taking down the mammoth meat industry.

“We really don’t focus on the plant-based meat sector as much as we focus on the meat sector itself. That’s a $1.4 trillion industry with just incredible diversity and potential globally,” Beyond Meat CEO Ethan Brown said on CNBC’s “Fast Money: Halftime Report ” seconds after the company’s stock began trading.

Brown founded Beyond Meat in 2009. The company sells fake burger patties, ground beef and sausage made with proteins from peas and faba beans. It previously sold chicken strips but is working to retool that formula.

“The consumer is moving most quickly away from beef and pork,” Brown said.

U.S. consumers have been trying to cut down on their meat consumption for health reasons and environmental concerns. The World Health Organization, as Brown cited, has linked processed meat to cancer.

On Thursday, the company made its public market debut on the Nasdaq, trading under the symbol “BYND.” The shares soared 135%, giving the company a market value of $3.52 billion.

“We’re just looking forward to building the business, and I think the reaction from the market is a reflection of the fact that we’re highly focused on collapsing the gap between our products and animal protein,” Brown said.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: amelia lucas
Keywords: news, cnbc, companies, market, plantbased, meat, company, beef, vegetarian, health, ceo, brown, world, focused, industry, options, sector, focus


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US futures higher as traders await Federal Reserve meeting outcome

U.S. stock index futures were pointing to a higher open Wednesday morning, as market participants prepared for another day of corporate earnings and waited to hear from the Federal Reserve. ET, Dow futures rose 99 points, indicating a positive open of more than 111 points. Futures on the S&P and Nasdaq both suggested a higher open too. However, there’s a special focus on the Federal Reserve, with Chairman Powell due to address the press at 2 p.m. The central bank is widely expected to keep inter


U.S. stock index futures were pointing to a higher open Wednesday morning, as market participants prepared for another day of corporate earnings and waited to hear from the Federal Reserve. ET, Dow futures rose 99 points, indicating a positive open of more than 111 points. Futures on the S&P and Nasdaq both suggested a higher open too. However, there’s a special focus on the Federal Reserve, with Chairman Powell due to address the press at 2 p.m. The central bank is widely expected to keep inter
US futures higher as traders await Federal Reserve meeting outcome Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: silvia amaro
Keywords: news, cnbc, companies, reserve, higher, federal, bank, futures, et, earnings, open, points, outcome, traders, focus, central, await, meeting


US futures higher as traders await Federal Reserve meeting outcome

U.S. stock index futures were pointing to a higher open Wednesday morning, as market participants prepared for another day of corporate earnings and waited to hear from the Federal Reserve.

At around 02:30 a.m. ET, Dow futures rose 99 points, indicating a positive open of more than 111 points. Futures on the S&P and Nasdaq both suggested a higher open too.

Wall Street closed higher on Tuesday on the back of earnings. This is set to remain a key focus for traders Wednesday, with GlaxoSmithKline, CME Group, Qualcomm and Fitbit due to report.

On the data front, there will be ADP payrolls at 8.15 a.m. ET; manufacturing PMIs due at 9.45 a.m. and constructions spending figures released at 10 a.m. ET.

However, there’s a special focus on the Federal Reserve, with Chairman Powell due to address the press at 2 p.m. ET.

The central bank is widely expected to keep interest rates unchanged, but investors will be looking to see if the central bank changes its dovish tone. Ahead of the meeting, President Donald Trump called for a 1% rate cut and more quantitative easing.


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: silvia amaro
Keywords: news, cnbc, companies, reserve, higher, federal, bank, futures, et, earnings, open, points, outcome, traders, focus, central, await, meeting


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Facebook is rolling out the biggest change to its app in the past five years

Facebook will roll out the biggest change to its app in the past five years on Tuesday, CEO Mark Zuckerberg announced at the company’s F8 Developer Conference. The new version of the app marks an early step toward Zuckerberg’s new privacy and messaging focused vision for the platform. “FB5” marks the fifth “major version” of the app, Zuckerberg said, which will emphasize groups and community to a greater extent than the previous designs. “It has a much bigger focus on communities and making comm


Facebook will roll out the biggest change to its app in the past five years on Tuesday, CEO Mark Zuckerberg announced at the company’s F8 Developer Conference. The new version of the app marks an early step toward Zuckerberg’s new privacy and messaging focused vision for the platform. “FB5” marks the fifth “major version” of the app, Zuckerberg said, which will emphasize groups and community to a greater extent than the previous designs. “It has a much bigger focus on communities and making comm
Facebook is rolling out the biggest change to its app in the past five years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: lauren feiner
Keywords: news, cnbc, companies, app, marks, roll, change, version, biggest, rolling, facebook, groups, communities, focus, past, zuckerberg


Facebook is rolling out the biggest change to its app in the past five years

Facebook will roll out the biggest change to its app in the past five years on Tuesday, CEO Mark Zuckerberg announced at the company’s F8 Developer Conference.

The new version of the app marks an early step toward Zuckerberg’s new privacy and messaging focused vision for the platform. “FB5” marks the fifth “major version” of the app, Zuckerberg said, which will emphasize groups and community to a greater extent than the previous designs.

“It has a much bigger focus on communities and making communities as central as friends,” Zuckerberg said, highlighting the app’s simpler design. “The app isn’t even blue anymore,” he said, chuckling, adding that Facebook’s icon will be modernized as well.

As the app shifts to focus on groups, Zuckerberg said the company will take measures to ensure that it is not recommending users to join groups made for the purpose of spreading misinformation, a problem for which Facebook has been criticized intensely over the past year. At the beginning of the conference, Zuckerberg acknowledged, “I get that a lot of people aren’t sure that we’re serious about this,” referencing his new privacy-focused strategy in light of its recent scandals.

The new version will roll out in the U.S. on Tuesday and will continue to roll out around the world in the coming weeks. Facebook is also working on a new version of its desktop website, which Zuckerberg said is coming later this year.

Subscribe to CNBC on YouTube.

Watch: Investors are excited about innovation at Facebook, says analyst


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: lauren feiner
Keywords: news, cnbc, companies, app, marks, roll, change, version, biggest, rolling, facebook, groups, communities, focus, past, zuckerberg


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Iran oil sanctions: Strait of Hormuz in focus as oil prices rise

Iran has reportedly renewed its threat to close the Strait of Hormuz, the world’s busiest transit lane for seaborne oil shipments, prompting fears about the potential ramifications for oil prices and broader financial markets. President Donald Trump’s administration announced Monday that buyers of Iranian oil must stop purchases by May 1 or face sanctions. In response, Iran’s semi-official Fars News Agency quoted Revolutionary Guards General Alireza Tengseiri as saying that if Tehran was barred


Iran has reportedly renewed its threat to close the Strait of Hormuz, the world’s busiest transit lane for seaborne oil shipments, prompting fears about the potential ramifications for oil prices and broader financial markets. President Donald Trump’s administration announced Monday that buyers of Iranian oil must stop purchases by May 1 or face sanctions. In response, Iran’s semi-official Fars News Agency quoted Revolutionary Guards General Alireza Tengseiri as saying that if Tehran was barred
Iran oil sanctions: Strait of Hormuz in focus as oil prices rise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: sam meredith, kaveh kazemi, getty images
Keywords: news, cnbc, companies, sanctions, iran, hormuz, rise, prices, view, focus, crude, irans, oil, response, seaborne, strait, waivers


Iran oil sanctions: Strait of Hormuz in focus as oil prices rise

Iran has reportedly renewed its threat to close the Strait of Hormuz, the world’s busiest transit lane for seaborne oil shipments, prompting fears about the potential ramifications for oil prices and broader financial markets.

President Donald Trump’s administration announced Monday that buyers of Iranian oil must stop purchases by May 1 or face sanctions.

The move, which took many market participants by surprise, ends six months of waivers which had allowed Iran’s eight biggest buyers of crude to continue to import limited volumes.

In response, Iran’s semi-official Fars News Agency quoted Revolutionary Guards General Alireza Tengseiri as saying that if Tehran was barred from using the Strait of Hormuz, they would “shut it down.”

Analysts at Barclays said in a research note published Monday that approximately 20% of all the sea-borne crude and condensates passes through the Strait of Hormuz.

“The short-term upside risk to prices is based on a) our view that Saudi Arabia’s response will likely be lower and slower compared to late last year and b) heightened risks of the closure of the Strait of Hormuz as a result of this action,” analysts at Barclays said.

The bank added that the Trump administration’s decision not to reissue waivers in May did not materially impact its view on longer-term prices.

International benchmark Brent crude traded at $74.17 Tuesday afternoon, up around 0.2%, while U.S. West Texas Intermediate (WTI) stood at $65.90, almost 0.6% higher.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: sam meredith, kaveh kazemi, getty images
Keywords: news, cnbc, companies, sanctions, iran, hormuz, rise, prices, view, focus, crude, irans, oil, response, seaborne, strait, waivers


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European markets: Brexit, earnings in focus as mood turns cautious

The pan-European Euro Stoxx 600 index was around 0.1 percent higher in mid-morning trade with most sectors and bourses sitting around the flat-line. This after U.S. Trade Representative Robert Lighthizer on Monday proposed a list of European Union products on which to slap tariffs as retaliation for European aircraft subsidies, with Airbus down 1.9 percent in early deals. The U.S. is considering tariffs on about $11 billion of EU products ranging from aircraft parts to wine. The move comes as th


The pan-European Euro Stoxx 600 index was around 0.1 percent higher in mid-morning trade with most sectors and bourses sitting around the flat-line. This after U.S. Trade Representative Robert Lighthizer on Monday proposed a list of European Union products on which to slap tariffs as retaliation for European aircraft subsidies, with Airbus down 1.9 percent in early deals. The U.S. is considering tariffs on about $11 billion of EU products ranging from aircraft parts to wine. The move comes as th
European markets: Brexit, earnings in focus as mood turns cautious Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: david reid, sam meredith
Keywords: news, cnbc, companies, aircraft, list, turns, mood, products, focus, cautious, european, world, tariffs, brexit, trade, earnings, midmorning, subsidies, stocks, markets, organization


European markets: Brexit, earnings in focus as mood turns cautious

The pan-European Euro Stoxx 600 index was around 0.1 percent higher in mid-morning trade with most sectors and bourses sitting around the flat-line. This after U.S. Trade Representative Robert Lighthizer on Monday proposed a list of European Union products on which to slap tariffs as retaliation for European aircraft subsidies, with Airbus down 1.9 percent in early deals.

The U.S. is considering tariffs on about $11 billion of EU products ranging from aircraft parts to wine. The move comes as the President Donald Trump administration looks to retaliate against EU subsidies for Airbus, which the World Trade Organization ruled had “adverse effects” on America.

Other European-listed stocks such as Rolls-Royce, Thales, Dassault Systemes, BAE and Leonardo were seen as among the most exposed to Lighthizer’s threat and these firms fell lower on Tuesday morning.

Drink maker stocks also went on a wild ride with Remy Cointreau, Pernod Ricard and Davide Campari all suffering losses, although initial selling at the open was reversed to some degree by mid-morning. Other items on the U.S. list included some European-produced cheese, passenger helicopters, as well as certain types of motorcycles and ski suits.

The announcement comes shortly after a World Trade Organization ruling said the U.S. was guilty of illegal subsidies in production of Boeing aircraft.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: david reid, sam meredith
Keywords: news, cnbc, companies, aircraft, list, turns, mood, products, focus, cautious, european, world, tariffs, brexit, trade, earnings, midmorning, subsidies, stocks, markets, organization


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The next big businesses will focus on these two tech trends, says investor behind Alibaba and Grab

Want to come up with the next big thing? Look no further than mobile phones and 5G technology — the next generation of wireless internet connectivity. That’s according to investing icon Jenny Lee, who says the fast-evolving technologies will be central to the leading businesses of the future. “I would say there are a couple of innings,” Lee said when asked recently where she sees the next big start-up opportunities. Meanwhile, in more technologically advanced countries like the U.S. and China, t


Want to come up with the next big thing? Look no further than mobile phones and 5G technology — the next generation of wireless internet connectivity. That’s according to investing icon Jenny Lee, who says the fast-evolving technologies will be central to the leading businesses of the future. “I would say there are a couple of innings,” Lee said when asked recently where she sees the next big start-up opportunities. Meanwhile, in more technologically advanced countries like the U.S. and China, t
The next big businesses will focus on these two tech trends, says investor behind Alibaba and Grab Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: karen gilchrist, bloomberg, getty images
Keywords: news, cnbc, companies, thing, users, wireless, businesses, lee, focus, tech, grab, trends, india, big, alibaba, 5g, mobile, asia, investor


The next big businesses will focus on these two tech trends, says investor behind Alibaba and Grab

Want to come up with the next big thing? Look no further than mobile phones and 5G technology — the next generation of wireless internet connectivity.

That’s according to investing icon Jenny Lee, who says the fast-evolving technologies will be central to the leading businesses of the future.

“I would say there are a couple of innings,” Lee said when asked recently where she sees the next big start-up opportunities.

First, there are huge opportunities for businesses to embrace the rapid mobile adoption in growing markets like India, Southeast Asia and Latin America, Lee said at finance conference Money 2020 Asia in Singapore last month.

In India alone — a country of 1.3 billion people — the number of smartphone users is set to double to 829 million by 2022.

Meanwhile, in more technologically advanced countries like the U.S. and China, there is major scope for companies to capitalize on 5G, Lee noted.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: karen gilchrist, bloomberg, getty images
Keywords: news, cnbc, companies, thing, users, wireless, businesses, lee, focus, tech, grab, trends, india, big, alibaba, 5g, mobile, asia, investor


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World’s largest money manager BlackRock sharpening focus on alternative investing to boost growth

The world’s largest asset manager, with $6 trillion in assets under management, is increasingly betting on nontraditional investments including private equity, hedge funds, commodities and real estate. The firm added at least four new roles to its alternative business unit that will combine the sales and investment teams, according to an internal memo circulated Tuesday. Edwin Conway, who served as global head of the firm’s institutional client business, will become global head of BlackRock Alte


The world’s largest asset manager, with $6 trillion in assets under management, is increasingly betting on nontraditional investments including private equity, hedge funds, commodities and real estate. The firm added at least four new roles to its alternative business unit that will combine the sales and investment teams, according to an internal memo circulated Tuesday. Edwin Conway, who served as global head of the firm’s institutional client business, will become global head of BlackRock Alte
World’s largest money manager BlackRock sharpening focus on alternative investing to boost growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-02  Authors: yun li, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, manager, unit, money, private, equity, focus, blackrock, firm, memo, largest, business, alternative, growth, investment, boost, worlds, firms, sharpening, investing


World's largest money manager BlackRock sharpening focus on alternative investing to boost growth

BlackRock is undergoing a large reorganization, shuffling the roles of about 20 directors and aiming to take its alternative investments business “to the next level,” according to an internal memo.

The world’s largest asset manager, with $6 trillion in assets under management, is increasingly betting on nontraditional investments including private equity, hedge funds, commodities and real estate. The firm added at least four new roles to its alternative business unit that will combine the sales and investment teams, according to an internal memo circulated Tuesday.

“The dramatic changes transforming both the markets and our industry … represent the biggest opportunity in a decade to differentiate BlackRock – but only if we are willing to be bold and decisive,” the firm’s CEO, Larry Fink, and its president, Rob Kapito, said in Tuesday’s memo.

Edwin Conway, who served as global head of the firm’s institutional client business, will become global head of BlackRock Alternative Investors. Jim Barry, who has led the firm’s real estate and infrastructure groups, will become chief investment officer of the alternative unit, the memo said.

BlackRock is already making waves in the alternatives sector. It is reportedly raising around $10 billion for its private equity fund to replicate the investment approach of Warren Buffett’s Berkshire Hathaway. The Wall Street giant in February also partnered with private equity firm KKR to invest $4 billion in the Abu Dhabi National Oil Co., becoming the first institutional investors joining forces with a national oil producer in the Middle East.

The reorganization comes as the New York-based firm and other asset managers are working through major shifts in their business. BlackRock has seen a slowdown in profits amid the continuing fee war among money managers. Fourth-quarter revenue fell short of expectations and its assets under management dropped 5 percent, to $5.98 trillion, over the last 12 months.

BlackRock revealed in January that it plans to cut 500 jobs, or 3 percent of its workforce this year.

The moves announced Tuesday are part of the firm’s effort to get closer to clients “to deepen our relationships with them,” the memo said.

“We are incredibly excited about these changes. They show our commitment to constant reinvention and to the ongoing development of our senior leaders. They are also designed to reinvigorate our approach at every level of the firm – and with every employee – at a critical time,” Fink and Kapito said in the memo.


Company: cnbc, Activity: cnbc, Date: 2019-04-02  Authors: yun li, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, manager, unit, money, private, equity, focus, blackrock, firm, memo, largest, business, alternative, growth, investment, boost, worlds, firms, sharpening, investing


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Trump’s Facebook ads focus on Schumer, Pelosi and the border wall as Democrats play catch-up

The data provides fresh insight into the themes and strategies that the Trump campaign is employing in the earliest days of the 2020 election cycle. Trump’s ads have primarily focused on his political opponents and his efforts to build a wall along the southern border. Trump’s Facebook ads are also responsive to the news cycle. Three-quarters of Trump’s ads included solicitations for contact information, while the rest asked for donations. Edelson said this suggests the Trump campaign is targeti


The data provides fresh insight into the themes and strategies that the Trump campaign is employing in the earliest days of the 2020 election cycle. Trump’s ads have primarily focused on his political opponents and his efforts to build a wall along the southern border. Trump’s Facebook ads are also responsive to the news cycle. Three-quarters of Trump’s ads included solicitations for contact information, while the rest asked for donations. Edelson said this suggests the Trump campaign is targeti
Trump’s Facebook ads focus on Schumer, Pelosi and the border wall as Democrats play catch-up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: brandy zadrozny, carlos barria
Keywords: news, cnbc, companies, catchup, schumer, facebook, wall, play, spent, democrats, border, trump, ad, ads, million, political, trumps, pelosi, president, focus, campaign


Trump's Facebook ads focus on Schumer, Pelosi and the border wall as Democrats play catch-up

After making Facebook advertisements a key part of its 2016 run, President Donald Trump’s campaign continues to spend heavily on the social network as Democratic presidential candidates begin their own social media efforts.

Trump spent $3.6 million on Facebook ads from Dec. 30 to March 23, according to data compiled by researchers at the Online Advertising Transparency Project, an ongoing study launched last year at New York University that tracks political ad spending through Facebook’s publicly available political ad archive.

Trump’s spending in early 2019 was more than the Democratic campaigns combined, but he has been outspent by some candidates in recent weeks. Former Texas congressman Beto O’Rourke outspent Trump two weeks ago, dropping $157,000 on Facebook compared to Trump’s $109,000. Last week, Sen. Amy Klobuchar, D-Minn., spent $198,000 to the president’s $150,000.

The data provides fresh insight into the themes and strategies that the Trump campaign is employing in the earliest days of the 2020 election cycle. Facebook launched its political ad archive in May 2018 amid mounting concerns about Russian interference in the 2016 presidential election, an effort that included the purchase of thousands of divisive Facebook and Instagram ads by Kremlin-backed agents.

Trump’s ads have primarily focused on his political opponents and his efforts to build a wall along the southern border.

More from NBC News:

Behind Instagram-friendly photos, an e-cigarette company collects valuable data

Fearful of fake news blitz, U.S. Census enlists help of tech giants

With Apple TV+ added to the list, have we hit subscription fatigue?

Among Trump’s biggest targets in the Democratic Party have been Senate Minority Leader Chuck Schumer, D-N.Y., and House Speaker Nancy Pelosi, D-Calif. Trump’s ads have mentioned those two lawmakers in at least 16,300 targeted Facebook ads since January, almost 40 percent of the total, according to an NBC News analysis of the data.

The wall was the main subject of more than 30 percent of the president’s ads during this time period, while appeals for more general support made up 24 percent of his ads. The State of the Union address (15 percent), contests for meals with the president (14 percent) and attacks on the “mainstream media” (7 percent) followed as the most popular talking points for Trump ads.

In hundreds of ads — featuring captions like “How much more American blood must we shed before Congress does its job?” — Trump urged supporters to contribute to an “Official Secure The Border Fund,” donations which went to the president’s reelection effort.

Trump bucked tradition by announcing his 2020 candidacy on the day of his 2017 inauguration. Since then, he’s raised more than $100 million, a historic rate for a presidential campaign. Trump spent heavily on Facebook in the run-up to the 2016 election, buying more than 5.9 million ads, Trump’s 2020 re-election campaign manager Brad Parscale told PBS.

Trump’s Facebook ad buys come from two groups: Donald J. Trump for President, Inc., the official campaign committee, and the Trump Make America Great Again Committee, a joint fundraising committee composed of the Trump campaign and the Republican National Committee. Those groups spent about $1.3 million in the first two full weeks in January, with spending declining in recent weeks, the data showed.

Between Jan. 6 and mid-March, Trump’s campaign made more than 42,000 distinct ad buys. Most of those were the same ads with different target audiences, according to Laura Edelson, a doctoral candidate and member of NYU’s Online Advertising Transparency Project.

Trump’s Facebook ads are also responsive to the news cycle. On Tuesday, the Trump Make America Great Again Committee launched 14 versions of a new Facebook ad that referred to the end of special counsel Robert Mueller’s investigation.

“After more than 2 years of an endless Witch Hunt, there is still NO EVIDENCE OF COLLUSION,” one ad reads. “The Democrats raised millions off a lie. Now we FIGHT BACK!”

The data also offers some sense of what has resonated with Trump’s audience. An ad promoting an opportunity to have breakfast with the president in Florida was seen more than 5 million times. One of the smallest ad buys featured former New York City Mayor Michael Bloomberg, philanthropist George Soros and Amazon CEO Jeff Bezos, labeling them “liberal mega donors.” That campaign included 40 ads and ran for just a few minutes in February.

Three-quarters of Trump’s ads included solicitations for contact information, while the rest asked for donations. Most ads appear to be targeted at wide regions, according to the data. Edelson said this suggests the Trump campaign is targeting users based on existing lists of personally identifiable data.

Much of Trump’s current spending is “aimed at expanding and engaging databases of potential supporters and donors,” said Greg Dale, the director of campaign relations for Tech for Campaigns, an organization that builds technology and provides talent for centrist and progressive political campaigns.

In addition to Klobuchar and O’Rourke, Sen. Elizabeth Warren, D-Mass., has spent $526,000 on Facebook ads, the most of any Democratic presidential candidate in the time period. She was followed by Sen. Bernie Sanders, I-Vt., and Sen. Kamala Harris, D-Calif., who spent $521,000 and $420,000, respectively.

Dale said the president is at an advantage with his social media campaign, leaving Democrats to play catch-up.

“Without a hyper-competitive primary, the president can invest long term, while Democrats need to immediately show momentum and build up a base,” Dale said.


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: brandy zadrozny, carlos barria
Keywords: news, cnbc, companies, catchup, schumer, facebook, wall, play, spent, democrats, border, trump, ad, ads, million, political, trumps, pelosi, president, focus, campaign


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