American CEOs don’t see US economic slowdown yet, says head of executive group

The organization, a global, independent business membership and research association, conducts a number of CEO and confidence studies. He told CNBC’s “Power Lunch” on Friday the group’s forecast for 2018 gross domestic product is about 3.1 percent, while 2019’s is 3.2 percent. Its leading economic index for September increased 0.5 percent and its consumer confidence index moved up 2.6 points in October. However, its measure of CEO confidence declined in the third quarter, thanks to concerns abou


The organization, a global, independent business membership and research association, conducts a number of CEO and confidence studies. He told CNBC’s “Power Lunch” on Friday the group’s forecast for 2018 gross domestic product is about 3.1 percent, while 2019’s is 3.2 percent. Its leading economic index for September increased 0.5 percent and its consumer confidence index moved up 2.6 points in October. However, its measure of CEO confidence declined in the third quarter, thanks to concerns abou
American CEOs don’t see US economic slowdown yet, says head of executive group Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: michelle fox
Keywords: news, cnbc, companies, dont, leading, index, confidence, cycle, sectors, cnbcs, ceos, slowdown, told, head, ceo, american, expect, global, economic, executive, group


American CEOs don't see US economic slowdown yet, says head of executive group

Global CEOs are seeing a bit of a slowdown outside the United States, but that’s not what U.S. chief executives are saying about the nation’s economy, according to Steve Odland, president and CEO of The Conference Board.

The organization, a global, independent business membership and research association, conducts a number of CEO and confidence studies.

“The U.S. numbers look very strong. All of the Conference Board indicators from the consumer confidence index to the leading economic indicators to the expectations index all say that the next six months expect to be very good,” said Odland, a CNBC contributor who once served as CEO of both Office Depot and AutoZone.

He told CNBC’s “Power Lunch” on Friday the group’s forecast for 2018 gross domestic product is about 3.1 percent, while 2019’s is 3.2 percent.

Its leading economic index for September increased 0.5 percent and its consumer confidence index moved up 2.6 points in October. However, its measure of CEO confidence declined in the third quarter, thanks to concerns about rising interest rates.

Odland’s remarks follow CNBC’s Jim Cramer’s comments that CEOs are telling him how quickly things have cooled in the economy.

“So many of them are baffled that we could find ourselves in this late-cycle dilemma that wasn’t supposed to occur so soon,” the “Mad Money” host said on Thursday.

Odland didn’t say that Cramer was wrong. Instead, he pointed out that there are some sectors that may be experiencing a slowdown.

“Ten years into a recovery, you would expect to see some of the leading sectors, some of the leading companies on that cycle to begin to slow down. And you would expect to see different geographic issues,” he said. “It’s a mixed bag.”

Bill George, former Medtronic chairman and a CNBC contributor, agrees. For example, the retail sector has never been better, and health-care execs are bullish, he said. However, for the auto sector it is near the end of the business cycle, he added.

“We are at the end of a very long cycle,” he told “Power Lunch.” “It could continue for several years, but everyone’s concerned about risk.”

He said the biggest risk is global trade, specifically with China.

— CNBC’s Elizabeth Gurdus contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: michelle fox
Keywords: news, cnbc, companies, dont, leading, index, confidence, cycle, sectors, cnbcs, ceos, slowdown, told, head, ceo, american, expect, global, economic, executive, group


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Homebuilder stocks are getting crushed, but one analyst says the chart looks so bad — it’s good

Homebuilder stocks get crushed, but one analyst says the chart looks so bad — it’s good 4:49 PM ET Thu, 15 Nov 2018 | 04:00Homebuilder stocks are getting hammered. While some investors are avoiding homebuilders amid rising interest rates that traditionally serve as a headwind for the economically sensitive group of stocks, others say evidence is mounting for a bounce. Technically, that’s good in contrast to some name-specific damage that we’ve seen,” Gordon said Thursday on CNBC’s “Trading Natio


Homebuilder stocks get crushed, but one analyst says the chart looks so bad — it’s good 4:49 PM ET Thu, 15 Nov 2018 | 04:00Homebuilder stocks are getting hammered. While some investors are avoiding homebuilders amid rising interest rates that traditionally serve as a headwind for the economically sensitive group of stocks, others say evidence is mounting for a bounce. Technically, that’s good in contrast to some name-specific damage that we’ve seen,” Gordon said Thursday on CNBC’s “Trading Natio
Homebuilder stocks are getting crushed, but one analyst says the chart looks so bad — it’s good Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: rebecca ungarino, source, rick wilking, samxmeg, getty images, kcna, thomas barwick getty images, lawrence mcdonald
Keywords: news, cnbc, companies, gordon, good, crushed, chart, bad, rates, continue, homebuilder, stocks, looks, thats, getting, analyst, homebuyers, xhb, interest, group


Homebuilder stocks are getting crushed, but one analyst says the chart looks so bad — it's good

Homebuilder stocks get crushed, but one analyst says the chart looks so bad — it’s good 4:49 PM ET Thu, 15 Nov 2018 | 04:00

Homebuilder stocks are getting hammered.

The group fell Friday for the sixth time in seven sessions, bringing the total year-to-date losses for the XHB, a popular homebuilder-tracking ETF, to 23 percent. While some investors are avoiding homebuilders amid rising interest rates that traditionally serve as a headwind for the economically sensitive group of stocks, others say evidence is mounting for a bounce.

The XHB began accelerating its losses this year once the U.S. 10-year Treasury yield broke above 2.8 percent, said Todd Gordon, technical analyst and founder of TradingAnalysis.com. From there, homebuilders’ move lower has been quite sharp, but he sees support forming on the chart.

“As long as you’re above $31 to $32 [per share], technical support is in place, and we can continue higher. We’re already pushing up at the $34 mark. Technically, that’s good in contrast to some name-specific damage that we’ve seen,” Gordon said Thursday on CNBC’s “Trading Nation,” referring to levels on the XHB.

Barring an unforeseen spike in rates, Gordon said, he sees the group heading higher from here. He’s not betting on a rapid rate rise, either, he said; bond volatility has fallen.

Still, others are more cautious given the Federal Reserve’s monetary tightening path.

“You’re finally seeing some wage growth. That should be good news for homebuyers, but here’s the problem. We have been in an interest rate hiking cycle, and as we continue to see the economy continuing to grow, that hiking is likely going to continue and interest rates really affect first-time homebuyers. And that’s actually been the focus for most of the homebuilding market right now. So they’re really sensitive to very small moves in interest rates, because it does move their monthly mortgage, and that does matter to first-time homebuyers. So I think that’s a big problem,” Gina Sanchez, CEO of Chantico Global, said Thursday on “Trading Nation.”

Still, she said relief could be in store for housing stocks due to falling costs. Lumber prices have crashed this year, Sanchez pointed out, and that should help margins. Land supply is also limited relative to demand, so that should also be a boon to the group.


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: rebecca ungarino, source, rick wilking, samxmeg, getty images, kcna, thomas barwick getty images, lawrence mcdonald
Keywords: news, cnbc, companies, gordon, good, crushed, chart, bad, rates, continue, homebuilder, stocks, looks, thats, getting, analyst, homebuyers, xhb, interest, group


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This group must rebound before Nasdaq can recover, Paul Meeks says

Longtime investor Paul Meeks believes it could take months until the Nasdaq stages a sustainable comeback. According to Meeks, investors will likely have to wait into the new year for more clarity on the chip glut. Until he gets more guidance from semis, Meeks suggests he’ll be staying mostly on the sidelines. His forecast may sound discouraging, but Meeks is confident tech will stage a strong rebound next year. “You could have some semiconductor stocks go up double and triple from where they ar


Longtime investor Paul Meeks believes it could take months until the Nasdaq stages a sustainable comeback. According to Meeks, investors will likely have to wait into the new year for more clarity on the chip glut. Until he gets more guidance from semis, Meeks suggests he’ll be staying mostly on the sidelines. His forecast may sound discouraging, but Meeks is confident tech will stage a strong rebound next year. “You could have some semiconductor stocks go up double and triple from where they ar
This group must rebound before Nasdaq can recover, Paul Meeks says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: stephanie landsman, samxmeg, getty images, chris ratcliffe, bloomberg, hazir reka, dowell, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, right, nasdaq, stocks, trading, paul, semis, recover, think, semiconductor, group, rebound, tech, meeks, biggest


This group must rebound before Nasdaq can recover, Paul Meeks says

Longtime investor Paul Meeks believes it could take months until the Nasdaq stages a sustainable comeback.

Meeks, who ran the world’s biggest tech fund for Merrill Lynch during the dot-com boom and subsequent collapse, predicts the correction gripping the tech-heavy index will only get deeper due a particularly hard-hit group of stocks, which doesn’t include the FANG names.

“Semiconductors, being such an important part of the tech sector, impacts the whole shebang. I actually think it’s the biggest tell,” he said Wednesday on CNBC’s “Trading Nation.” “Right now, we’re in the midst of what we call an inventory correction. That means there are not only too many chips at the vendors themselves, but at their customers.”

The semis began selling off this year before the Nasdaq. The VanEck Vectors Semiconductor ETF is down 11 percent over the past six months.

“I have an extra-large cash position right now,” he said. “I am keeping powder dry. I’m not convinced that we’re near the bottom in these [semi] names.”

According to Meeks, investors will likely have to wait into the new year for more clarity on the chip glut.

“We’ve already been through quarterly results for these companies,” Meeks said. “So, we can’t see the inventory line on these balance sheets for another maybe 90 days.”

Until he gets more guidance from semis, Meeks suggests he’ll be staying mostly on the sidelines. He estimates that the Nasdaq sell-off is in its sixth or seventh inning.

“I don’t think that we’ll see a recovery before the end of 2018,” he said.

His forecast may sound discouraging, but Meeks is confident tech will stage a strong rebound next year.

“You could have some semiconductor stocks go up double and triple from where they are trading now,” Meeks said. “The biggest call in technology will be the semiconductor turn. The people who get that right in 2019 are going to make a load of money.”


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: stephanie landsman, samxmeg, getty images, chris ratcliffe, bloomberg, hazir reka, dowell, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, right, nasdaq, stocks, trading, paul, semis, recover, think, semiconductor, group, rebound, tech, meeks, biggest


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GOP group preps opposition research blitz against Mike Bloomberg

“If Bloomberg decides to run, he will be part of the America Rising 2020 Initiative. Bloomberg told the Associated Press in an interview on Tuesday he will make his decision on running by early 2019. That year, America Rising poured $1.4 million into the election and raised $1.3 million through top Republican donors such as billionaire hedge-fund manager Paul Singer. America Rising also has at the ready excerpts of interviews Bloomberg gave in the 1990s before he became the mayor of New York. “I


“If Bloomberg decides to run, he will be part of the America Rising 2020 Initiative. Bloomberg told the Associated Press in an interview on Tuesday he will make his decision on running by early 2019. That year, America Rising poured $1.4 million into the election and raised $1.3 million through top Republican donors such as billionaire hedge-fund manager Paul Singer. America Rising also has at the ready excerpts of interviews Bloomberg gave in the 1990s before he became the mayor of New York. “I
GOP group preps opposition research blitz against Mike Bloomberg Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: brian schwartz, bill pugliano, getty images
Keywords: news, cnbc, companies, bloomberg, spent, gop, women, told, bloombergs, blitz, research, rising, opposition, mike, wall, street, preps, group, democratic, america


GOP group preps opposition research blitz against Mike Bloomberg

A major GOP money group is getting ready to slam Mike Bloomberg with negative talking points if the billionaire Democrat makes a run for the White House in 2020.

America Rising, a super PAC whose targets have included Hillary Clinton, is preparing an opposition-research blitz against Bloomberg that would focus on a range of topics, from his close relationships with Wall Street executives to controversial comments he made about women.

It’s a sign that Republican Party insiders are taking the prospect of a Bloomberg run seriously as President Donald Trump runs for re-election.

“If Bloomberg decides to run, he will be part of the America Rising 2020 Initiative. We have already begun opposition research, rapid response, and video tracking on a host of potential Democratic candidates including Bloomberg,” Sarah Dolan, the PAC’s chief spokeswoman, told CNBC.

Bloomberg told the Associated Press in an interview on Tuesday he will make his decision on running by early 2019. A spokesman for Bloomberg did not return a request for comment for this story.

Bloomberg joins a list of possible 2020 Democratic targets for America Rising, including former Vice President Joe Biden, Sen. Elizabeth Warren of Massachusetts, Sen. Cory Booker of New Jersey, Sen. Kamala Harris of California and New York Gov. Andrew Cuomo, among others.

The group hopes to drive a bigger wedge between the centrist, pro-business Bloomberg and the Democratic base.

“Within the Democratic primary that is increasingly shifting to the left, Bloomberg’s cozy relationship with Wall Street and his record on crime, specifically stop and frisk, and his previous comments on women and issues of sexual harassment, will be pressed by his primary opponents and America Rising,” Dolan said.

America Rising, which was founded in 2013, raised just over $990,000 during the 2018 election cycle and spent $601,000, according to the nonpartisan Center for Responsive Politics. The group raised and spent considerably more money in 2016, when Clinton ran against Trump. That year, America Rising poured $1.4 million into the election and raised $1.3 million through top Republican donors such as billionaire hedge-fund manager Paul Singer.

The super PAC is looking to play up some of Bloomberg’s controversial statements about women, including his recent remarks to The New York Times about news anchor Charlie Rose and the #MeToo movement.

“The stuff I read about is disgraceful — I don’t know how true all of it is,” he told the newspaper in September. Rose, who has been accused of sexual misconduct, used to produce his PBS show from Bloomberg’s offices.

America Rising also has at the ready excerpts of interviews Bloomberg gave in the 1990s before he became the mayor of New York.

“I like theater, dining and chasing women,” he once said. “Let me put it this way: I am a single, straight billionaire in Manhattan. What do you think? It’s a wet dream.”

Bloomberg, however, has championed causes for women.

In September, he spoke at an event sponsored by EMILY’s List, a political action committee dedicated to helping pro-choice women get elected into Congress, and defended women who have spoken out throughout the #MeToo movement.

“Thanks to so many women who have courageously spoken out, the Me Too movement has shone a spotlight on sexual assault, abuse, and harassment – that, disgracefully, society has tolerated for a very long time,” he said at the time.

He also spent millions supporting women running for office during the past election.

America Rising also wants to put Bloomberg’s ties to Wall Street under the microscope. They plan to home in on his criticism of how the financial crisis was handled under Presidents George W. Bush and Barack Obama.

“It’s a cheap shot to be able to go after the banks,” he told Bloomberg TV in 2014.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: brian schwartz, bill pugliano, getty images
Keywords: news, cnbc, companies, bloomberg, spent, gop, women, told, bloombergs, blitz, research, rising, opposition, mike, wall, street, preps, group, democratic, america


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Oil prices whipsaw as OPEC allies ramp up talk of supply cuts at December meeting

OPEC Sec-Gen: We remain very focused on our principal objective 7 Hours Ago | 03:27OPEC officials quickly sought to reassure energy market participants on Wednesday, as oil prices fluctuated wildly ahead of a much-anticipated meeting between the influential oil cartel and its allied partners in early December. The growing prospect of OPEC and non-OPEC members cutting output next month helped Brent crude rebound toward $66 a barrel Wednesday morning. Speaking to CNBC at the ADIPEC oil summit in A


OPEC Sec-Gen: We remain very focused on our principal objective 7 Hours Ago | 03:27OPEC officials quickly sought to reassure energy market participants on Wednesday, as oil prices fluctuated wildly ahead of a much-anticipated meeting between the influential oil cartel and its allied partners in early December. The growing prospect of OPEC and non-OPEC members cutting output next month helped Brent crude rebound toward $66 a barrel Wednesday morning. Speaking to CNBC at the ADIPEC oil summit in A
Oil prices whipsaw as OPEC allies ramp up talk of supply cuts at December meeting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: sam meredith, nick oxford
Keywords: news, cnbc, companies, wildly, cuts, energy, opec, oil, group, barkindo, allied, meeting, market, talk, prices, supply, ramp, partners, allies, focused, whipsaw


Oil prices whipsaw as OPEC allies ramp up talk of supply cuts at December meeting

OPEC Sec-Gen: We remain very focused on our principal objective 7 Hours Ago | 03:27

OPEC officials quickly sought to reassure energy market participants on Wednesday, as oil prices fluctuated wildly ahead of a much-anticipated meeting between the influential oil cartel and its allied partners in early December.

The growing prospect of OPEC and non-OPEC members cutting output next month helped Brent crude rebound toward $66 a barrel Wednesday morning.

It comes after OPEC President (and United Arab Emirates Energy Minister) Suhail al-Mazrouei and OPEC Secretary General Mohammed Barkindo said there was a consensus among the group to support a decision to balance the market in Vienna, Austria on December 6.

Speaking to CNBC at the ADIPEC oil summit in Abu Dhabi Wednesday, Barkindo said the Middle East-dominated group remains jointly focused with efforts to “restore stability” in energy markets.

Shortly thereafter, Mazrouei told CNBC’s Steve Sedgwick that OPEC would be careful not to “overreact” to this latest bout of oil market volatility. Instead, the 15-member group and its allied partners would “do what is necessary” over the coming weeks.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: sam meredith, nick oxford
Keywords: news, cnbc, companies, wildly, cuts, energy, opec, oil, group, barkindo, allied, meeting, market, talk, prices, supply, ramp, partners, allies, focused, whipsaw


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Cramer’s lightning round: I endorse buying shares of Blackstone Group

Blackstone Group LP: “I’m endorsing that. Microchip Technology Inc.: “A not-that-great semiconductor company with its whole world coming back down? Tellurian Inc.: “Now, I’ve got to tell you, one of the reasons why natural gas has spiked is we’re sending off a lot of natural gas overseas. Clean Harbors Inc.: “I think that [CEO] Alan McKim has done a remarkable job. I like the stock, it’s anti-cyclical, and I say buy, buy, buy!”


Blackstone Group LP: “I’m endorsing that. Microchip Technology Inc.: “A not-that-great semiconductor company with its whole world coming back down? Tellurian Inc.: “Now, I’ve got to tell you, one of the reasons why natural gas has spiked is we’re sending off a lot of natural gas overseas. Clean Harbors Inc.: “I think that [CEO] Alan McKim has done a remarkable job. I like the stock, it’s anti-cyclical, and I say buy, buy, buy!”
Cramer’s lightning round: I endorse buying shares of Blackstone Group Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, shares, gas, lightning, cramers, blackstone, quarter, yields, world, round, buying, endorse, buy, think, group, lot, really, natural, yield


Cramer's lightning round: I endorse buying shares of Blackstone Group

Blackstone Group LP: “I’m endorsing that. You got a nice yield and real smart guys. I think that that’s a decent situation. A lot of people are always troubled by it — not me.”

Microchip Technology Inc.: “A not-that-great semiconductor company with its whole world coming back down? We are not going to recommend that one at all. Don’t buy.”

First Data Corp.: “That quarter was a bad quarter. It really shocked me. The stock’s all the way back down at $17. Probably overdone, but you know what? Do we really need that when we get PayPal, Mastercard, Visa and Square?”

Tellurian Inc.: “Now, I’ve got to tell you, one of the reasons why natural gas has spiked is we’re sending off a lot of natural gas overseas. Tellurian’s got a very good setup, but if you want to get income and growth, Cheniere Energy Partners yields 6.7 percent and I like that one more.”

Clean Harbors Inc.: “I think that [CEO] Alan McKim has done a remarkable job. I like the stock, it’s anti-cyclical, and I say buy, buy, buy!”


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, shares, gas, lightning, cramers, blackstone, quarter, yields, world, round, buying, endorse, buy, think, group, lot, really, natural, yield


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Telecom Italia reportedly strips CEO of executive powers

Italian phone group Telecom Italia (TIM) stripped its chief executive, Amos Genish, of his executive powers on Tuesday and gave them provisionally to the chairman after a bitter boardroom struggle between two big shareholders, a source said. Genish’s executive powers were transferred to Chairman Fulvio Conti on a provisional basis, the source said. Genish remains a director, and his immediate future was unclear. A TIM spokesman declined immediate comment. Some Elliott directors have been unhappy


Italian phone group Telecom Italia (TIM) stripped its chief executive, Amos Genish, of his executive powers on Tuesday and gave them provisionally to the chairman after a bitter boardroom struggle between two big shareholders, a source said. Genish’s executive powers were transferred to Chairman Fulvio Conti on a provisional basis, the source said. Genish remains a director, and his immediate future was unclear. A TIM spokesman declined immediate comment. Some Elliott directors have been unhappy
Telecom Italia reportedly strips CEO of executive powers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13
Keywords: news, cnbc, companies, strips, tims, italia, executive, telecom, source, reportedly, genish, elliott, ceo, group, powers, immediate, directors, tim


Telecom Italia reportedly strips CEO of executive powers

Italian phone group Telecom Italia (TIM) stripped its chief executive, Amos Genish, of his executive powers on Tuesday and gave them provisionally to the chairman after a bitter boardroom struggle between two big shareholders, a source said.

Genish was appointed last year to run the underperforming former monopoly by TIM’s then controlling shareholder, French media group Vivendi, but since then directors backed by activist fund Elliott have wrested control of the board.

Genish’s executive powers were transferred to Chairman Fulvio Conti on a provisional basis, the source said. Genish remains a director, and his immediate future was unclear.

A TIM spokesman declined immediate comment.

Some Elliott directors have been unhappy that Genish is opposed to selling control of TIM’s fixed-line networks, sources have said.


Company: cnbc, Activity: cnbc, Date: 2018-11-13
Keywords: news, cnbc, companies, strips, tims, italia, executive, telecom, source, reportedly, genish, elliott, ceo, group, powers, immediate, directors, tim


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Investing: Market volatility isn’t beginning of end, says Carlyle Group

“And so, all of a sudden, people are beginning to recognize that maybe valuations got ahead of where they probably should have been and they must reset.” The International Monetary Fund forecast in October that the U.S. economy would grow 2.5 percent in 2019. Youngkin said The Carlyle Group was slightly more optimistic, predicting GDP growth of between 2.5 percent and 3 percent. He questioned the idea that lower growth will lead to lower earnings, saying that “the concept of slowing growth does


“And so, all of a sudden, people are beginning to recognize that maybe valuations got ahead of where they probably should have been and they must reset.” The International Monetary Fund forecast in October that the U.S. economy would grow 2.5 percent in 2019. Youngkin said The Carlyle Group was slightly more optimistic, predicting GDP growth of between 2.5 percent and 3 percent. He questioned the idea that lower growth will lead to lower earnings, saying that “the concept of slowing growth does
Investing: Market volatility isn’t beginning of end, says Carlyle Group Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: holly ellyatt, brendan mcdermid, -glenn youngkin, co-chief executive, the carlyle group
Keywords: news, cnbc, companies, sudden, isnt, tech, investing, economy, group, sky, grow, slowing, volatility, market, going, lower, carlyle, end, beginning, growth, earnings


Investing: Market volatility isn't beginning of end, says Carlyle Group

“The tech sector has been valued under this expectation that, again, trees are going to grow to the sky, and we’re going to sell more and more and more of everything in an unlimited fashion,” he said. “And so, all of a sudden, people are beginning to recognize that maybe valuations got ahead of where they probably should have been and they must reset.”

The International Monetary Fund forecast in October that the U.S. economy would grow 2.5 percent in 2019. Youngkin said The Carlyle Group was slightly more optimistic, predicting GDP growth of between 2.5 percent and 3 percent. He said that would bode well for sectors, like tech, that “find their demand principally driven by confidence in the consumer.”

He questioned the idea that lower growth will lead to lower earnings, saying that “the concept of slowing growth does not mean declining earnings … Headlines are always that things are declining, but they’re not,” he said. “Growth is slowing.”

Youngkin added that a moderation of the growth rate was normal.

“Over the course of the last 12-18 months, most people have felt like the economy was going to grow to the sky and all of a sudden we have this very natural slowing of growth – not stalling – and the markets are appropriately resetting.”

– CNBC’s Fred Imbert contributed reporting to this story.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: holly ellyatt, brendan mcdermid, -glenn youngkin, co-chief executive, the carlyle group
Keywords: news, cnbc, companies, sudden, isnt, tech, investing, economy, group, sky, grow, slowing, volatility, market, going, lower, carlyle, end, beginning, growth, earnings


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Vodafone’s new CEO to cut costs, review tower assets

Vodafone’s new chief executive Nick Read said he would reduce operating costs by 1.2 billion euros ($1.35 billion) by 2021 and review its tower assets to drive higher returns at the world’s second largest mobile operator. “My new strategic priorities focus on … radically simplifying our operating model and generating better returns from our infrastructure assets,” Read said on Tuesday. Analysts have suggested the group could partner with a tower group operator to bring extra cash into the busi


Vodafone’s new chief executive Nick Read said he would reduce operating costs by 1.2 billion euros ($1.35 billion) by 2021 and review its tower assets to drive higher returns at the world’s second largest mobile operator. “My new strategic priorities focus on … radically simplifying our operating model and generating better returns from our infrastructure assets,” Read said on Tuesday. Analysts have suggested the group could partner with a tower group operator to bring extra cash into the busi
Vodafone’s new CEO to cut costs, review tower assets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: justin tallis, afp, getty images
Keywords: news, cnbc, companies, tower, returns, billion, operating, vodafones, cut, group, euros, read, towers, ceo, costs, assets, review, vodafone


Vodafone's new CEO to cut costs, review tower assets

Vodafone’s new chief executive Nick Read said he would reduce operating costs by 1.2 billion euros ($1.35 billion) by 2021 and review its tower assets to drive higher returns at the world’s second largest mobile operator.

Replacing Vittorio Colao at the top of the British company after the Italian ran the group for 10 years, Read said he would also freeze the dividend until the British company has reduced its debt pile.

“My new strategic priorities focus on … radically simplifying our operating model and generating better returns from our infrastructure assets,” Read said on Tuesday.

The initial market reaction was positive, with Vodafone shares trading 7 percent higher shortly after the market opened.

The shares had fallen 39 percent since the beginning of the year as investors fret about the cost of acquiring Liberty Global’s cable assets in Germany, the outlay on new spectrum for 5G services and tougher conditions in some European markets.

Read, the former Vodafone finance director who took over the top job last month, said he had taken decisive commercial and operational actions to respond to challenging conditions in Italy and Spain, and would reduce Vodafone’s costs for the third year running.

As part of a move to drive better returns from investments and to share capital assets where possible, it would create a “virtual tower” company to manage the 58,000 towers it controls across Europe, with a dedicated management team.

The group is also conducting due diligence on how best to own all of its towers, including those held in joint ventures.

Analysts have suggested the group could partner with a tower group operator to bring extra cash into the business. Any change in the ownership of its towers would mark the latest reinvention at Vodafone which is adapting to rampant consumer demand for mobile and fixed broadband services at a time of high competition in the industry.

Colao announced his departure in May a week after Vodafone clinched a long discussed deal to pay $21.8 billion to buy Liberty Global’s assets in Germany and eastern Europe. That should allow it to take the fight to rivals with a broader range of superfast cable TV, broadband and mobile services.

On Tuesday the group showed it was operating generally in line with forecasts.

It reported group service revenue of 19.7 billion euros and adjusted earnings of 7.08 billion euros, up 2.9 percent on an organic basis for the six months to end of September, broadly in line with market forecasts.

Vodafone also narrowed its growth target for organic adjusted core earnings to 3 percent from a previous range of 1-5 percent and said it now expected free cash flow before spectrum costs to be around 5.4 billion euros, above the previous target of 5.2 billion euros.

It had an operating loss of 2.1 billion euros, largely driven by impairments of 3.5 billion euros in Spain, Romania and the Vodafone Idea business.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: justin tallis, afp, getty images
Keywords: news, cnbc, companies, tower, returns, billion, operating, vodafones, cut, group, euros, read, towers, ceo, costs, assets, review, vodafone


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The new Google Health unit is absorbing health business from DeepMind, Alphabet’s AI research group

Alphabet’s DeepMind, the UK-based health and artificial intelligence company, is merging part of its business back into Google. CNBC has learned that DeepMind’s health subsidiary is moving under the newly-formed Google Health team led by former Geisinger CEO David Feinberg. So as of this week, the DeepMind Health group will effectively cease to continue as an independent brand. DeepMind’s health team built an app called Streams, which helps doctors and other clinicians spot signs of kidney failu


Alphabet’s DeepMind, the UK-based health and artificial intelligence company, is merging part of its business back into Google. CNBC has learned that DeepMind’s health subsidiary is moving under the newly-formed Google Health team led by former Geisinger CEO David Feinberg. So as of this week, the DeepMind Health group will effectively cease to continue as an independent brand. DeepMind’s health team built an app called Streams, which helps doctors and other clinicians spot signs of kidney failu
The new Google Health unit is absorbing health business from DeepMind, Alphabet’s AI research group Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: christina farr, source
Keywords: news, cnbc, companies, health, work, ai, group, research, google, business, absorbing, continue, board, app, team, streams, alphabets, unit, company, deepmind


The new Google Health unit is absorbing health business from DeepMind, Alphabet's AI research group

Alphabet’s DeepMind, the UK-based health and artificial intelligence company, is merging part of its business back into Google.

CNBC has learned that DeepMind’s health subsidiary is moving under the newly-formed Google Health team led by former Geisinger CEO David Feinberg.

The moves are part of a broader strategy to increase collaboration and communication among Alphabet’s various health projects, which are scattered across the organization.

So as of this week, the DeepMind Health group will effectively cease to continue as an independent brand. It’ll now just be part of Google. The company announced the news via a blog post on Tuesday, where it stressed that it will continue with health research through its academic partners, but that products ready to be deployed will now be under the Google umbrella.

DeepMind’s health team built an app called Streams, which helps doctors and other clinicians spot signs of kidney failure and other ailments. In June of 2018, the company disclosed that more than 100 people work solely in health care, and the app has signed deals to be used by 10 hospitals in the UK’s National Health Service. Those people will remain in London and continue to work under Dominic King, the company’s health lead.

King said Google provides a platform to “bring our technologies to the wider world.”

Streams found itself at the center of a controversy in 2016 when the New Scientist reported that its collaboration with the U.K.’s National Health Service went far beyond what was publicly announced. The company appointed an independent review board in February of 2016, it said in a company blog post, to meet regularly and scrutinize its work. Sources say that board will now likely be shut down as Google looks to expand the scope of its app beyond the U.K.

DeepMind, which is one of the Alphabet portfolio companies with a health team, was acquired by Alphabet about four years ago to do futuristic AI work, like teaching computer systems to beat top-ranked players of the Chinese board game Go. Other portions of DeepMind will remain independent.

The newly-formed Google Health entity will include a products division, which incorporates health hardware, as well as a research effort. The company has made significant investments in bringing digital technologies to the medical sector, as it looks to diversify its portfolio outside of advertising and search.

“It has been a phenomenal journey to see Streams go from initial idea to live deployment, and to hear how it’s helped change the lives of patients and the nurses and doctors who treat them. I can’t think of a better person than Dr. David Feinberg to lead health efforts at Google, helping to make a difference to the lives of millions of patients around the world,” said Mustafa Suleyman, co-founder of DeepMind, in a statement. “I’m excited to watch Streams take flight.”


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: christina farr, source
Keywords: news, cnbc, companies, health, work, ai, group, research, google, business, absorbing, continue, board, app, team, streams, alphabets, unit, company, deepmind


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