Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th


Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


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Hitachi to announce purchase of ABB’s power grid business: Nikkei

Hitachi and ABB will announce on Monday a plan for the Japanese conglomerate to buy the Swiss engineering group’s power grid business, paying up to $7 billion for an initial 50 percent stake, the Nikkei business daily reported. A source familiar with the situation has valued the power grid business at between $10 billion and $12 billion. Other sources have said that ABB could keep a stake in the power grid business via a joint venture with Hitachi. The Nikkei reported that the deal would see Hit


Hitachi and ABB will announce on Monday a plan for the Japanese conglomerate to buy the Swiss engineering group’s power grid business, paying up to $7 billion for an initial 50 percent stake, the Nikkei business daily reported. A source familiar with the situation has valued the power grid business at between $10 billion and $12 billion. Other sources have said that ABB could keep a stake in the power grid business via a joint venture with Hitachi. The Nikkei reported that the deal would see Hit
Hitachi to announce purchase of ABB’s power grid business: Nikkei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: smith collection, gado, archive photos, getty images
Keywords: news, cnbc, companies, grid, power, abbs, announce, sell, stake, abb, purchase, nikkei, business, initial, billion, hitachi


Hitachi to announce purchase of ABB's power grid business: Nikkei

Hitachi and ABB will announce on Monday a plan for the Japanese conglomerate to buy the Swiss engineering group’s power grid business, paying up to $7 billion for an initial 50 percent stake, the Nikkei business daily reported.

The two companies, which have previously said they were in talks over the deal, will hold a news conference later on Monday, the business daily said.

The acquisition would allow Hitachi to boost its global presence in the power grid industry, while ABB, which also makes industrial robots, wants to offload its least profitable division to focus on areas such as automation.

A Hitachi spokesman declined to confirm the report, saying it was not something the company had announced.

A source familiar with the situation has valued the power grid business at between $10 billion and $12 billion.

Other sources have said that ABB could keep a stake in the power grid business via a joint venture with Hitachi.

The Nikkei reported that the deal would see Hitachi pay 600 billion-800 billion yen ($5.3 billion to $7 billion) for an initial 50 percent stake in the business.

ABB’s power grid business employs 36,000 people and had sales of $10.4 billion last year. It had an operating profit margin of 10.0 percent in the third quarter, down 60 basis points from a year earlier.

The decision to sell it marks a U-turn for ABB Chief Executive Ulrich Spiesshofer, who decided to keep the business two years ago despite calls from some shareholders to sell.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: smith collection, gado, archive photos, getty images
Keywords: news, cnbc, companies, grid, power, abbs, announce, sell, stake, abb, purchase, nikkei, business, initial, billion, hitachi


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US stock futures point to a slightly lower open after Friday’s big losses

Dow futures implied a slide of about 41 points at the open on Monday, as of 7:20 a.m. S&P 500 and Nasdaq futures also pointed to a slightly lower open. Recent economic data have reignited worries of economic slowdown around the globe and kept a lid on stock returns. The Dow fell nearly 500 points and the S&P 500 closed down 1.9 percent on Friday to 2,599.95 — its lowest closing level since April — after China reported industrial output and retail sales growth numbers for November that missed exp


Dow futures implied a slide of about 41 points at the open on Monday, as of 7:20 a.m. S&P 500 and Nasdaq futures also pointed to a slightly lower open. Recent economic data have reignited worries of economic slowdown around the globe and kept a lid on stock returns. The Dow fell nearly 500 points and the S&P 500 closed down 1.9 percent on Friday to 2,599.95 — its lowest closing level since April — after China reported industrial output and retail sales growth numbers for November that missed exp
US stock futures point to a slightly lower open after Friday’s big losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: thomas franck, drew angerer, getty images
Keywords: news, cnbc, companies, 500, rising, lower, trade, big, president, losses, points, economic, fridays, point, open, slightly, sp, futures, stock


US stock futures point to a slightly lower open after Friday's big losses

Dow Jones Industrial Average futures pointed to a slightly negative start for Monday’s open after all three major U.S. indexes closed in correction territory for the first time since March 2016 in the prior trading session.

Dow futures implied a slide of about 41 points at the open on Monday, as of 7:20 a.m. ET. S&P 500 and Nasdaq futures also pointed to a slightly lower open.

Recent economic data have reignited worries of economic slowdown around the globe and kept a lid on stock returns. The Dow fell nearly 500 points and the S&P 500 closed down 1.9 percent on Friday to 2,599.95 — its lowest closing level since April — after China reported industrial output and retail sales growth numbers for November that missed expectations.

The latest economic data offered yet another hint that Beijing’s economy may be decelerating amid rising trade risks as President Xi Jinping tries to broker a permanent truce with President Donald Trump. The two nations have slapped tariffs on billions of dollars worth of goods over the past year as disagreements over the handling of intellectual property and a yawning trade deficit pit the world’s two largest economies against each other.

Investors are also on edge ahead of the December meeting of the Federal Reserve’s policymaking arm. The Federal Open Market Committee is expected to hike its benchmark overnight lending rate for a fourth and final time of 2018 this week. While fears of rising interest rates and an ambitious Fed have spooked markets throughout 2018, such concerns have evolved over the past month as inflation and growth expectations recede.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: thomas franck, drew angerer, getty images
Keywords: news, cnbc, companies, 500, rising, lower, trade, big, president, losses, points, economic, fridays, point, open, slightly, sp, futures, stock


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Google to invest $1 billion in new campus in New York City

Google will invest $1 billion in a new campus in New York City, the company announced on Monday. The new 1.7 million square foot “Google Hudson Square” campus will include two buildings located at 315 and 345 Hudson Street and an office space situated at nearby 550 Washington Street in Manhattan, Google said in a blog post on Monday. The move will expand Google’s presence near the Hudson River in New York City. Google said the Hudson Square campus will be the main location for its New York-based


Google will invest $1 billion in a new campus in New York City, the company announced on Monday. The new 1.7 million square foot “Google Hudson Square” campus will include two buildings located at 315 and 345 Hudson Street and an office space situated at nearby 550 Washington Street in Manhattan, Google said in a blog post on Monday. The move will expand Google’s presence near the Hudson River in New York City. Google said the Hudson Square campus will be the main location for its New York-based
Google to invest $1 billion in new campus in New York City Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: elizabeth schulze, nurphoto, getty images
Keywords: news, cnbc, companies, york, hudson, google, invest, street, city, square, campus, announced, billion, washington


Google to invest $1 billion in new campus in New York City

Google will invest $1 billion in a new campus in New York City, the company announced on Monday.

The new 1.7 million square foot “Google Hudson Square” campus will include two buildings located at 315 and 345 Hudson Street and an office space situated at nearby 550 Washington Street in Manhattan, Google said in a blog post on Monday.

The move will expand Google’s presence near the Hudson River in New York City. Earlier this year, the search giant announced it had purchased shopping and office complex Chelsea Market for $2.4 billion.

Google said the Hudson Square campus will be the main location for its New York-based global business organization. It said the investments in Chelsea and Hudson Square will create capacity to more than double headcount in New York over the next decade. Google currently houses more than 7,000 employees in New York City in a range of teams including Search, Ads, Maps, YouTube and Cloud.

“Our investment in New York is a huge part of our commitment to grow and invest in U.S. facilities, offices and jobs,” Alphabet CFO Ruth Porat said in the blog post.

Google signed lease agreements for the Hudson Street spaces and plans to move into the two buildings by 2020, the company said. It signed a letter of intent for the 550 Washington Street space, where it will move in 2022 once the building is complete.

The news follows Apple’s announcement last week that it will invest $1 billion in a new campus in Austin, Texas and build new sites in Seattle, San Diego and Culver City, California. Amazon announced last month it will open one of its new headquarters in the Long Island City neighborhood of Queens in New York.

Google shares traded roughly 2 percent lower in pre-market and have dropped 2 percent year-to-date.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: elizabeth schulze, nurphoto, getty images
Keywords: news, cnbc, companies, york, hudson, google, invest, street, city, square, campus, announced, billion, washington


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America’s neglected growth factor: Net exports to China, Europe and Japan

Markets, however, would be unlikely to greet with enthusiasm such a repeat performance. That is quite obvious from a gross public debt of $22 trillion (107 percent of GDP), and counting, and a public sector budget deficit currently estimated at about 6 percent of GDP. How, under those circumstances, can anybody expect that the financial markets could digest such a huge public sector borrowing requirement without causing considerable damage to asset prices? Goods trade alone is considerably worse


Markets, however, would be unlikely to greet with enthusiasm such a repeat performance. That is quite obvious from a gross public debt of $22 trillion (107 percent of GDP), and counting, and a public sector budget deficit currently estimated at about 6 percent of GDP. How, under those circumstances, can anybody expect that the financial markets could digest such a huge public sector borrowing requirement without causing considerable damage to asset prices? Goods trade alone is considerably worse
America’s neglected growth factor: Net exports to China, Europe and Japan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: dr michael ivanovitch, frederic j brown, afp, getty images
Keywords: news, cnbc, companies, net, trade, fiscal, japan, china, factor, growth, neglected, americas, europe, sector, markets, deficit, months, goods, federal, exports, economic, public


America's neglected growth factor: Net exports to China, Europe and Japan

Of course, in case of need, the Fed, as a lender of last resort, can always relapse into mindless quantitative easing routines — but that would again be a desperate measure of a seemingly never-ending crisis management. Markets, however, would be unlikely to greet with enthusiasm such a repeat performance.

The fiscal policy lever is even more impaired. That is quite obvious from a gross public debt of $22 trillion (107 percent of GDP), and counting, and a public sector budget deficit currently estimated at about 6 percent of GDP.

The latest data, released last Thursday, are pointing to a worsening trend of public finances. In the course of November, federal spending shot up 18 percent from the year earlier while revenues fell 1 percent — in spite of relatively strong economic activity. For the first two months of the present fiscal year, the federal budget deficit soared 51 percent from the same period of 2017, and was running at a mind-boggling annual rate of $1.8 trillion.

How, under those circumstances, can anybody expect that the financial markets could digest such a huge public sector borrowing requirement without causing considerable damage to asset prices?

There are no easy solutions to that predicament, but a rapidly improving U.S. trade balance could go a long way toward preventing a major economic slowdown and providing some support to stretched market valuations.

Here are a few numbers to show where the U.S. stands on that now.

This year, the deficit on American foreign trade in goods and services is expected to take out of the economy more than $550 billion, or 2.7 percent of GDP.

Goods trade alone is considerably worse. In the first 10 months of this year, the U.S. ran a $623 billion trade deficit with China, Europe and Japan. That amount represents 84 percent of the total gap on American international goods transactions.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: dr michael ivanovitch, frederic j brown, afp, getty images
Keywords: news, cnbc, companies, net, trade, fiscal, japan, china, factor, growth, neglected, americas, europe, sector, markets, deficit, months, goods, federal, exports, economic, public


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Bank of England could include climate change impact in UK stress tests next year

The Bank of England (BOE) is making plans to include the impact of climate change in U.K. bank stress tests, the Financial Times reported Monday. The stress tests largely look at a bank’s capital buffers in times of severe financial stress but also include a separate “exploratory scenario” every two years. In 2017, the first exploratory scenario looked at the competition from financial technology but could concentrate on climate change in 2019, the FT said. And so the question is whether (climat


The Bank of England (BOE) is making plans to include the impact of climate change in U.K. bank stress tests, the Financial Times reported Monday. The stress tests largely look at a bank’s capital buffers in times of severe financial stress but also include a separate “exploratory scenario” every two years. In 2017, the first exploratory scenario looked at the competition from financial technology but could concentrate on climate change in 2019, the FT said. And so the question is whether (climat
Bank of England could include climate change impact in UK stress tests next year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: anmar frangoul, alexandros maragos, moment, getty images
Keywords: news, cnbc, companies, impact, include, bank, change, scenario, exploratory, tests, uk, times, financial, climate, england, ft, stress


Bank of England could include climate change impact in UK stress tests next year

The Bank of England (BOE) is making plans to include the impact of climate change in U.K. bank stress tests, the Financial Times reported Monday.

The stress tests largely look at a bank’s capital buffers in times of severe financial stress but also include a separate “exploratory scenario” every two years.

In 2017, the first exploratory scenario looked at the competition from financial technology but could concentrate on climate change in 2019, the FT said.

“From the first one we learnt a lot about how the banks managed or didn’t manage these types of issues,” BOE Governor Mark Carney told the FT in an interview.

“And it was quite instructive. And so the question is whether (climate change) is the next one, or the one after.”

Read the full story from the Financial Times here.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: anmar frangoul, alexandros maragos, moment, getty images
Keywords: news, cnbc, companies, impact, include, bank, change, scenario, exploratory, tests, uk, times, financial, climate, england, ft, stress


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Firm dollar weighs on gold amid global growth risks

Spot gold was down 0.1 percent at $1,237.51 per ounce, as of 0401 GMT, after having hit its lowest since Dec. 4 at $1,232.39 on Friday. Gold has not recovered yet from Friday’s decline, said analyst Helen Lau of Argonaut Securities, adding that prices were moving on the strong dollar over the weekend. The dollar index, which measures the greenback against other major currencies, was just below the 19-month high of 97.71 hit on Friday. Lower interest rates reduce the opportunity cost of holding n


Spot gold was down 0.1 percent at $1,237.51 per ounce, as of 0401 GMT, after having hit its lowest since Dec. 4 at $1,232.39 on Friday. Gold has not recovered yet from Friday’s decline, said analyst Helen Lau of Argonaut Securities, adding that prices were moving on the strong dollar over the weekend. The dollar index, which measures the greenback against other major currencies, was just below the 19-month high of 97.71 hit on Friday. Lower interest rates reduce the opportunity cost of holding n
Firm dollar weighs on gold amid global growth risks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: simon dawson, bloomberg, getty images
Keywords: news, cnbc, companies, firm, global, dollar, reduce, gold, ounce, amid, weighs, safehaven, rates, risks, analyst, growth, support, interest, dec


Firm dollar weighs on gold amid global growth risks

Gold prices inched lower on Monday, as the dollar held firm below a 19-month peak on safe-haven demand amid concerns of a global economic slowdown, and as investors awaited cues on U.S. interest rate hikes from a Federal Reserve meeting later this week.

Spot gold was down 0.1 percent at $1,237.51 per ounce, as of 0401 GMT, after having hit its lowest since Dec. 4 at $1,232.39 on Friday.

U.S. gold futures were little changed at $1,241.3 per ounce.

Gold has not recovered yet from Friday’s decline, said analyst Helen Lau of Argonaut Securities, adding that prices were moving on the strong dollar over the weekend.

Weaker-than-expected economic data out of China and Europe and fears of a possible U.S. government shutdown enhanced appeal for the U.S. currency, which has played the role of a safe-haven asset in recent times.

The dollar index, which measures the greenback against other major currencies, was just below the 19-month high of 97.71 hit on Friday.

Markets will closely watch the future trajectory of U.S. monetary policy at the Federal Reserve’s Dec. 18-19 meeting where the board is set to raise interest rates by 25 basis points.

“Markets will rally on the back of dollar weakness after the central bank signals a more dovish stance, but the advance will fall back quickly as global growth concerns reassert themselves,” INTL FCStone analyst Edward Meir said in a note.

Lower interest rates reduce the opportunity cost of holding non-yielding bullion and weigh on the dollar.

Spot gold is biased to break a support at $1,232 per ounce, and fall to a lower support zone of $1,224-$1,228, according to Reuters technical analyst Wang Tao.

Meanwhile, hedge funds and money managers switched to net long position in Comex gold in the week to Dec. 11, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

This was the first time gold speculators held a net long position since July, and the strongest since June.

“Uncertainties of the trade war are still weighing on the market,” said Dick Poon, general manager, Heraeus Metals Hong Kong Ltd.

“It is getting close to Christmas time, so it is getting super quiet in the market. Investors reduce their inventories as much as possible before the year ends.”

Among other precious metals, spot palladium gained to $1,238.20 per ounce.

Silver declined marginally to $14.56 per ounce, while platinum fell 0.6 percent to $782.50 per ounce.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: simon dawson, bloomberg, getty images
Keywords: news, cnbc, companies, firm, global, dollar, reduce, gold, ounce, amid, weighs, safehaven, rates, risks, analyst, growth, support, interest, dec


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China’s ‘pent up demand’ may prop up Hong Kong’s property market in 2019

Hong Kong property prices have fallen sharply and look set to continue their downward trend until the end of 2019— but there’s no danger of an all-out crash, experts said Monday. That’s because resilient local economic fundamentals and pent-up demand from mainland Chinese who have moved to Hong Kong will likely stem the decline next year, they told CNBC. “If you look at the basic fundamentals, unless we get a financial crisis in China or something like that, I think we’re looking at a correction


Hong Kong property prices have fallen sharply and look set to continue their downward trend until the end of 2019— but there’s no danger of an all-out crash, experts said Monday. That’s because resilient local economic fundamentals and pent-up demand from mainland Chinese who have moved to Hong Kong will likely stem the decline next year, they told CNBC. “If you look at the basic fundamentals, unless we get a financial crisis in China or something like that, I think we’re looking at a correction
China’s ‘pent up demand’ may prop up Hong Kong’s property market in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: kelly olsen, getty images, -peter churchouse
Keywords: news, cnbc, companies, fundamentals, mainland, kong, end, crisis, china, kongs, economic, 2019, property, look, hong, demand, market, chinas, pent, prop


China's 'pent up demand' may prop up Hong Kong's property market in 2019

Hong Kong property prices have fallen sharply and look set to continue their downward trend until the end of 2019— but there’s no danger of an all-out crash, experts said Monday.

That’s because resilient local economic fundamentals and pent-up demand from mainland Chinese who have moved to Hong Kong will likely stem the decline next year, they told CNBC.

“If you look at the basic fundamentals, unless we get a financial crisis in China or something like that, I think we’re looking at a correction — not a crisis in the Hong Kong property market,” said Peter Churchouse, founder of Hong Kong-based real estate investment firm Portwood Capital.

Housing is a key economic component in crowded and land-scarce Hong Kong, where about 7.4 million people inhabit small, mountainous islands and a craggy peninsula bordering the southern end of mainland China.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: kelly olsen, getty images, -peter churchouse
Keywords: news, cnbc, companies, fundamentals, mainland, kong, end, crisis, china, kongs, economic, 2019, property, look, hong, demand, market, chinas, pent, prop


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Brent crude dips on global economy worries, US oil prices steady

Brent crude prices slipped on Monday amid concerns over demand in the wake of weaker growth in major economies, while U.S. oil markets held steady after U.S. drilling activity fell to its lowest level in about two months. International Brent crude oil futures were at $60.16 per barrel at 0248 GMT, down 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $51.33 per barrel, up 13 cents, or 0.3 percent. But oil prices were supported after Genera


Brent crude prices slipped on Monday amid concerns over demand in the wake of weaker growth in major economies, while U.S. oil markets held steady after U.S. drilling activity fell to its lowest level in about two months. International Brent crude oil futures were at $60.16 per barrel at 0248 GMT, down 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $51.33 per barrel, up 13 cents, or 0.3 percent. But oil prices were supported after Genera
Brent crude dips on global economy worries, US oil prices steady Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: getty images
Keywords: news, cnbc, companies, global, output, week, brent, crude, oil, meeting, futures, saudi, rigs, economy, steady, markets, worries, dips, prices


Brent crude dips on global economy worries, US oil prices steady

Brent crude prices slipped on Monday amid concerns over demand in the wake of weaker growth in major economies, while U.S. oil markets held steady after U.S. drilling activity fell to its lowest level in about two months.

International Brent crude oil futures were at $60.16 per barrel at 0248 GMT, down 12 cents, or 0.2 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $51.33 per barrel, up 13 cents, or 0.3 percent.

Chinese oil refinery throughput in November fell from October, suggesting an easing in oil demand, while the country’s industrial output rose the least in nearly three years as the economy continued to lose momentum.

French business activity plunged unexpectedly into contraction this month, retreating at the fastest pace in over four years, while Germany’s private sector expansion slowed to a four-year low in December.

But oil prices were supported after General Electric Co’s Baker Hughes energy services firm said on Friday that U.S. drillers cut four oil rigs in the week to Dec. 14, pulling the total count to the lowest since mid-October at 873.

“This, when combined with (expectations) Saudi Arabia is … to cut exports to the United States to draw down inventory builds (there) should provide a short-term base despite global slowdown fears, which continue to resonate,” said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore.

However, the current U.S. rig count, which serves as an early indicator of future output, is higher than a year ago when 747 rigs were active.

The Organisation of the Petroleum Exporting Countries and its Russia-led allies have agreed to curb output from January, in a move to be reviewed at a meeting in April. Saudi Arabia is OPEC’s de facto leader.

“The potential for a significant movement in the U.S. dollar clearly has an impact on oil pricing with the Fed meeting (this week). We’re looking outside the oil markets for its next major move,” said Michael McCarthy, chief markets strategist at CMC markets.

The U.S. Federal Open Market Committee (FOMC) is set to start a two-day meeting on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: getty images
Keywords: news, cnbc, companies, global, output, week, brent, crude, oil, meeting, futures, saudi, rigs, economy, steady, markets, worries, dips, prices


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Qatar reportedly considering increasing its stake in Deutsche Bank

Qatar is considering increasing its stake in Deutsche Bank, newspaper Handelsblatt reported on Sunday. The Qatari royal family already holds a 6.1 percent stake in Deutsche Bank, according to Deutsche Bank’s website. “We will invest in a large financial institution in Germany. This, and the fact that Christian Sewing, CEO of Deutsche Bank, was the only top manager of a German group to take part in the Doha Forum over the weekend clearly point to Deutsche Bank, the paper said. A spokesman for Deu


Qatar is considering increasing its stake in Deutsche Bank, newspaper Handelsblatt reported on Sunday. The Qatari royal family already holds a 6.1 percent stake in Deutsche Bank, according to Deutsche Bank’s website. “We will invest in a large financial institution in Germany. This, and the fact that Christian Sewing, CEO of Deutsche Bank, was the only top manager of a German group to take part in the Doha Forum over the weekend clearly point to Deutsche Bank, the paper said. A spokesman for Deu
Qatar reportedly considering increasing its stake in Deutsche Bank Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: martin leissl, bloomberg, getty images
Keywords: news, cnbc, companies, considering, qatar, increasing, institution, forum, doha, bank, deutsche, ceo, financial, handelsblatt, stake, reportedly


Qatar reportedly considering increasing its stake in Deutsche Bank

Qatar is considering increasing its stake in Deutsche Bank, newspaper Handelsblatt reported on Sunday.

The Qatari royal family already holds a 6.1 percent stake in Deutsche Bank, according to Deutsche Bank’s website. Qatar controls over 9 percent, once derivative positions are take into consideration, Handelsblatt said.

“We will invest in a large financial institution in Germany. This was discussed in the margins of the Doha Forum and will be announced shortly,” Yousuf Mohamed Al-Jaida, CEO of the state-owned Qatar Financial Center, told Handelsblatt.

Al-Jaida did not want to name the company, but he confirmed that it was an institution in which Qatar was already involved, Handelsblatt reported.

This, and the fact that Christian Sewing, CEO of Deutsche Bank, was the only top manager of a German group to take part in the Doha Forum over the weekend clearly point to Deutsche Bank, the paper said.

A spokesman for Deutsche Bank declined to comment.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: martin leissl, bloomberg, getty images
Keywords: news, cnbc, companies, considering, qatar, increasing, institution, forum, doha, bank, deutsche, ceo, financial, handelsblatt, stake, reportedly


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