Tesla is paving the way and we appreciate that, VW CEO says

We think that Tesla plays a very important role in the transition because they are paving the way,” he said. “They showed that electric cars are working, that a fully electric car is the right solution. Following a 2015 scandal which saw VW Group caught out for cheating during diesel emissions tests, the company has accelerated its electric car program. Diess said that both traditional engine and electric cars are becoming “the most relevant and precious units in the internet.” Despite shrinking


We think that Tesla plays a very important role in the transition because they are paving the way,” he said.
“They showed that electric cars are working, that a fully electric car is the right solution.
Following a 2015 scandal which saw VW Group caught out for cheating during diesel emissions tests, the company has accelerated its electric car program.
Diess said that both traditional engine and electric cars are becoming “the most relevant and precious units in the internet.”
Despite shrinking
Tesla is paving the way and we appreciate that, VW CEO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: david reid
Keywords: news, cnbc, companies, car, vehicles, electric, role, cars, paving, group, auto, world, tesla, appreciate, ceo, way


Tesla is paving the way and we appreciate that, VW CEO says

The chief executive of Volkswagen Group, Herbert Diess has said he appreciates the work that Tesla has done to prove that electric cars are viable as a mass market option.

The U.S. electric car maker is set to open a factory just outside Berlin which will make Model Y cars as well as batteries, battery packs and powertrains for use in other Tesla vehicles. The forest site is being sealed off to ramblers as authorities start groundworks and check for unexploded World War II explosives.

Tesla’s foray in the home of the German auto giants is expected to be up and running in 2021.

Speaking at the World Economic Forum in Davos on Thursday, Diess said he welcomed the challenge. “I think it’s great to have good competition. We think that Tesla plays a very important role in the transition because they are paving the way,” he said.

“They showed that electric cars are working, that a fully electric car is the right solution. So, we appreciate that,” he added.

Following a 2015 scandal which saw VW Group caught out for cheating during diesel emissions tests, the company has accelerated its electric car program. VW, which vies with Toyota as the world’s biggest seller of automobiles, has pledged to launch eight new electric and hybrid cars in 2020.

Diess said that both traditional engine and electric cars are becoming “the most relevant and precious units in the internet.” The CEO argued that data streams in and out of the car will be much higher than smartphones, pushing the car of the future into a new role in the internet ecosystem.

Despite shrinking global auto markets, VW Group grew its worldwide deliveries by 1.3% to 10,974,600 vehicles in 2019. Its biggest market, Europe, accounted for more than 4.5 million auto sales across the year. Shares in the firm are up almost 25% over the last 12 months and more than 6% higher than the low of the 2015 “Dieselgate” crisis.

Volkswagen Group is the umbrella organization for a range of brands that, among others, include Porsche, Audi, Seat, Lamborghini and Ducati.

One of the architects of VW Group’s recovery is Luca de Meo, who quit as head of Volkswagen’s Seat brand earlier this month. Although still officially with VW, the Italian is currently the favorite to take the role of the now vacant position as CEO of Renault.

Diess told CNBC that de Meo had confirmed to VW that he was in talks with Renault, adding that it was sad to see him leaving VW.


Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: david reid
Keywords: news, cnbc, companies, car, vehicles, electric, role, cars, paving, group, auto, world, tesla, appreciate, ceo, way


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Intel’s stock jumps 7% on better-than-expected earnings and revenue

Intel’s revenue rose 8% from a year earlier in the quarter, which ended on Dec. 28, the company said in a statement . Intel’s Non-Volatile Memory Solutions Group offering memory and storage products had $1.22 billion in revenue, below the $1.28 billion FactSet consensus. Intel is forecasting first-quarter earnings of $1.30 per share, excluding certain items, and revenue of $19 billion, implying 18% growth. Analysts polled by Refinitiv had expected $1.04 in earnings per share, excluding certain i


Intel’s revenue rose 8% from a year earlier in the quarter, which ended on Dec. 28, the company said in a statement .
Intel’s Non-Volatile Memory Solutions Group offering memory and storage products had $1.22 billion in revenue, below the $1.28 billion FactSet consensus.
Intel is forecasting first-quarter earnings of $1.30 per share, excluding certain items, and revenue of $19 billion, implying 18% growth.
Analysts polled by Refinitiv had expected $1.04 in earnings per share, excluding certain i
Intel’s stock jumps 7% on better-than-expected earnings and revenue Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: jordan novet
Keywords: news, cnbc, companies, earnings, betterthanexpected, quarter, intels, revenue, intel, chips, stock, jumps, share, group, analysts, billion


Intel's stock jumps 7% on better-than-expected earnings and revenue

Intel’s revenue rose 8% from a year earlier in the quarter, which ended on Dec. 28, the company said in a statement .

Intel shares jumped as much as 7% in extended trading on Thursday after the chipmaker reported better-than-expected fourth-quarter earnings, extending a rally that’s pushed the stock to its highest since the dot-com bubble in 2000.

Intel’s largest operating segment, the Client Computing Group that makes chips for PCs, laptops and tablets, posted $10.01 billion in revenue, up about 2% year over year and exceeding the $9.74 billion consensus estimate among analysts polled by FactSet.

Revenue from the company’s Data Center Group, which makes chips for computer servers, was up about 19% at $7.21 billion, more than the $6.40 billion FactSet analyst consensus.

Intel’s Non-Volatile Memory Solutions Group offering memory and storage products had $1.22 billion in revenue, below the $1.28 billion FactSet consensus.

The Internet of Things Group, which makes computing products for industries and embedded systems, fetched $1.16 billion in revenue. The FactSet consensus was $1.03 billion.

In the fourth quarter Intel announced the $2 billion acquisition of artificial intelligence chip company Habana Labs and completed the sale of the majority of its smartphone modem business to Apple. The company also told customers that PC chips were in short supply.

Intel CEO Bob Swan said on a conference call with analysts on Thursday that PC chip supply remained tight.

“We think that Intel’s PC chip shortages likely resulted in some PC business being pushed from the December quarter into the March-2020 quarter, which we think could cause Intel’s CCG revenue in the March quarter to be higher than usual, despite a sequential seasonal step down,” Nomura Instinet analysts led by David Wong, who have a buy rating on Intel stock, wrote in a note to clients on Jan. 15.

Meanwhile, Intel has faced greater competition from AMD, which has beat it to market with chips featuring small 7-nanometer transistors.

“It looks like INTC’s 10nm server MPU [microprocessor unit] is at least one full year behind AMD, and we expect INTC to lose 2,000bps of server share to AMD over the next two years,” Jefferies analysts led by Mark Lipacis, who rate Intel a hold, wrote in a note on Tuesday.

Swan said on Thursday that Intel’s first 7-nanometer chips are scheduled to arrive in 2022.

“We are also planning for an increasingly competitive environment as we move through the year,” said George Davis, Intel’s finance chief. “As a result of these dynamics, we expect total revenue to be more front-end loaded in the first half then we seen historically.”

Intel is forecasting first-quarter earnings of $1.30 per share, excluding certain items, and revenue of $19 billion, implying 18% growth. Analysts polled by Refinitiv had expected $1.04 in earnings per share, excluding certain items, and $17.19 billion in revenue.

For Intel’s 2020 fiscal year, the company expects $5 in earnings per share, excluding certain items, on $73.5 billion in revenue, which would be up 2%. The consensus estimates were $4.68 in earnings per share, excluding certain items, and $72.25 billion in revenue, according to Refinitiv.

Davis said he thinks Intel’s PC-centric business will be down low single digits year over year in 2020. In the first half of the year Intel will be able to sell chips as people upgrade to Microsoft’s Windows 10 operating system — Microsoft’s support for Windows 7 ended earlier this month — and that factor will taper off in the second half, Swan said.

Meanwhile, the data-center business, which includes the Data Center Group and other components, will be up high single digits in 2020, Davis said.

Intel is “expecting an exceptionally strong Q1 as cloud customers continue to build capacity and adopt our highest performing products,” Davis said. “This will mark three quarters of strong cloud buildout, and we expect more modest capacity expansion for the remainder of the year as CSP’s move to a digestion phase.”

As of Thursday’s close, shares of Intel are up almost 6% since the beginning of 2020 and are at their highest levels since mid-2000.

WATCH: Intel upgraded ahead of earnings


Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: jordan novet
Keywords: news, cnbc, companies, earnings, betterthanexpected, quarter, intels, revenue, intel, chips, stock, jumps, share, group, analysts, billion


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Patriotic Millionaires’ letter to Davos calls for ‘higher and fairer’ taxes on the global elite

DAVOS, Switzerland –The Patriotic Millionaires, a group of wealthy people who support hiking taxes on the rich, are taking their message global at the World Economic Forum. In a letter the group plans to release Wednesday, the Patriotic Millionaires will urge international tax reform. The Patriotic Millionaires was founded in 2010 and is chaired by former BlackRock executive Morris Pearl. The global corporate tax has essentially halved in the past 35 years. While Shalchi said he’s supportive of


DAVOS, Switzerland –The Patriotic Millionaires, a group of wealthy people who support hiking taxes on the rich, are taking their message global at the World Economic Forum.
In a letter the group plans to release Wednesday, the Patriotic Millionaires will urge international tax reform.
The Patriotic Millionaires was founded in 2010 and is chaired by former BlackRock executive Morris Pearl.
The global corporate tax has essentially halved in the past 35 years.
While Shalchi said he’s supportive of
Patriotic Millionaires’ letter to Davos calls for ‘higher and fairer’ taxes on the global elite Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: lauren hirsch
Keywords: news, cnbc, companies, davos, calls, higher, group, fairer, tax, payne, letter, wealthy, elite, patriotic, taxes, millionaires, corporate, global


Patriotic Millionaires' letter to Davos calls for 'higher and fairer' taxes on the global elite

DAVOS, Switzerland –The Patriotic Millionaires, a group of wealthy people who support hiking taxes on the rich, are taking their message global at the World Economic Forum.

In a letter the group plans to release Wednesday, the Patriotic Millionaires will urge international tax reform. Previously, the organization has focused its message on the United States, where it has lobbied in favor of a millionaire tax and against tax loopholes for investment funds.

The letter, which will be released under the moniker “Millionaires Against Pitchforks,” warns that tax evasion has “reached epidemic proportions” and contributed to “extreme, destabilizing inequality.” It is timed to land as millionaires and billionaires gather here for the World Economic Forum – which the group’s president, Erica Payne, calls “one of the most obnoxious displays of privilege that is found on the world stage.”

“There are two kinds of wealthy people in the world: those who prefer taxes and those who prefer pitchforks. We, the undersigned, prefer taxes,” the letter says. It is signed by 121 people, including Disney heiress Abigail Disney, Celtel-founder Mo Ibrahim, former Unilever CEO Paul Polman and “Love, Actually” filmmaker Richard Curtis.

The letter cites a 2018 IMF report that found that $12 trillion of multinational investments is “completely artificial” and sitting in empty corporate shells across the globe. Meanwhile, the world’s roughly 2,000 billionaires have more wealth than 60% of the planet’s population, researchers at Oxfam announced earlier this week. They warned that “extreme wealth is a sign of a failing economic system.”

The Patriotic Millionaires argue that taxes are the solution.

“Taxes are the best and only appropriate way to ensure adequate investment in the things our societies need. Individuals who reject this truth pose a dual threat both to the climate and to democracy itself,” says the letter, which was signed by Disney, Ibrahim, Polman, Curtis and others.

The group is urging tax reform for both individual and corporate taxes.

The Patriotic Millionaires was founded in 2010 and is chaired by former BlackRock executive Morris Pearl. Until now, its focus has been exclusively in the U.S., where it has run publicity campaigns and lobbied lawmakers to support its causes. The group stood by then-President Barack Obama’s side for his 2012 Tax Day address. Last month, the group unveiled its first spate of endorsements for 2020’s congressional elections.

But the group believes the global tax landscape is so fraught it must expand is mission overseas, Payne said. A number of the group’s signatories, like Polman, are not members of the U.S. organization. Payne said it took months to find global millionaires and billionaires to support its cause.

“The number of wealthy people concerned with their fellow humans is minuscule. That is true domestically and it appears to also be true internationally,” Payne said.

Djaffar Shalchi, an Iranian-Danish businessman who helped the Patriotic Millionaires build out their European network, said many requests for signatures were left simply left unanswered.

“The feedback was they didn’t want to sign it … most rich people are scared to sign something like that,” Shalchi said.

But if the letter resonates as the group hopes, the Patriotic Millionaires will look for more global allies, and jump more heartily into the debate, Payne said.

As they do, they will be joining a corporate tax debate that has been reverberating across the international stage for years. Globalization has made it easier for companies to seek shelter in countries with lower corporate tax rates. That challenge is heightened by the rising tech giants like Facebook, Amazon and Apple that render taxing based on physical presence an antiquated notion. The global corporate tax has essentially halved in the past 35 years. It stood at 49% in 1985 and is 24% today, according to the IMF.

Former IMF Chair Christine Lagarde has called existing global tax rules “fundamentally out of date.” Apple CEO Tim Cook said earlier this week the global tax system needs to be “rehauled.” The Organization for Economic Cooperation and Development is working to develop a framework tax solution for the wealthy countries that make up its membership, including Australia, the U.S., France and Ireland.

But efforts to create change have been stymied by diplomatic tensions. A frequently discussed potential solution is the imposition of a “digital tax” through which countries can tax an internet company doing business in its region. With most of the world’s largest technology companies based in the U.S, though, there are fears such a tax offers other nations a chance to prosper from the fruits of these American firms’ success.

As such, the U.S. has been sparring with France, Italy and Britain over threats of a digital tax. The debate has also clouded the negotiation of an OECD framework. Steven Mnuchin earlier this month informed OECD Secretary-General Angel Gurría that he has concerns about mandatory digital taxes being included as part of its global tax solution. President Donald Trump and French President Emmanuel Macron, meanwhile, called a truce in the matter, Reuters reported.

While Shalchi said he’s supportive of any efforts to close global tax loopholes, he said there may be an easier approach.

“We’re just complicating with 10 different kinds of taxes. They can tax the corporations, tax the stock markets – so on and so on – let’s just make it simple: let’s just tax the wealthy,” he said. “But we are talking about the 1% here, come on.”

Read the letter:


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: lauren hirsch
Keywords: news, cnbc, companies, davos, calls, higher, group, fairer, tax, payne, letter, wealthy, elite, patriotic, taxes, millionaires, corporate, global


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China leading the way on tech used in everyday life, Naspers CEO says

China leading the way on tech used in everyday life, Naspers CEO saysBob van Dijk, group CEO of Naspers and group CEO of Prosus, discusses the tech sector.


China leading the way on tech used in everyday life, Naspers CEO saysBob van Dijk, group CEO of Naspers and group CEO of Prosus, discusses the tech sector.
China leading the way on tech used in everyday life, Naspers CEO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21
Keywords: news, cnbc, companies, used, naspers, group, saysbob, ceo, sector, life, china, prosus, everyday, leading, way, van, tech


China leading the way on tech used in everyday life, Naspers CEO says

China leading the way on tech used in everyday life, Naspers CEO says

Bob van Dijk, group CEO of Naspers and group CEO of Prosus, discusses the tech sector.


Company: cnbc, Activity: cnbc, Date: 2020-01-21
Keywords: news, cnbc, companies, used, naspers, group, saysbob, ceo, sector, life, china, prosus, everyday, leading, way, van, tech


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Progressive group launches ad campaign criticizing Susan Collins for her vote to confirm Brett Kavanaugh

Senator Susan Collins, a Republican from Maine and chairman of the Senate Appropriations Subcommittee on Transportation. Sen. Susan Collins is facing new backlash from Democrats for her 2018 vote to confirm Justice Brett Kavanaugh to the Supreme Court, putting the Maine Republican on the defensive as she seeks a fifth term. The campaign comes as Collins is seeking reelection to the Senate, where she has cast herself as a moderate. Brian Fallon, Demand Justice’s executive director, said in a stat


Senator Susan Collins, a Republican from Maine and chairman of the Senate Appropriations Subcommittee on Transportation.
Sen. Susan Collins is facing new backlash from Democrats for her 2018 vote to confirm Justice Brett Kavanaugh to the Supreme Court, putting the Maine Republican on the defensive as she seeks a fifth term.
The campaign comes as Collins is seeking reelection to the Senate, where she has cast herself as a moderate.
Brian Fallon, Demand Justice’s executive director, said in a stat
Progressive group launches ad campaign criticizing Susan Collins for her vote to confirm Brett Kavanaugh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: tucker higgins
Keywords: news, cnbc, companies, confirm, senate, progressive, criticizing, justice, vote, collins, campaign, group, law, launches, abortion, susan, maine, kavanaugh


Progressive group launches ad campaign criticizing Susan Collins for her vote to confirm Brett Kavanaugh

Senator Susan Collins, a Republican from Maine and chairman of the Senate Appropriations Subcommittee on Transportation.

Sen. Susan Collins is facing new backlash from Democrats for her 2018 vote to confirm Justice Brett Kavanaugh to the Supreme Court, putting the Maine Republican on the defensive as she seeks a fifth term.

The progressive group Demand Justice announced Tuesday it will spend hundreds of thousands of dollars on a new digital ad campaign geared toward moderate voters in the state who support abortion rights.

“Her vote to confirm Judge Kavanaugh made me realize that Susan Collins was not true to her word when she said that she supported a woman’s right to choose,” a woman named Amy says in the new 30-second spot.

The campaign comes as Collins is seeking reelection to the Senate, where she has cast herself as a moderate.

She has been dogged by her vote for Kavanaugh and for the 2017 GOP tax overhaul, which slashed rates for corporations and has been perceived as a boon to wealthier Americans.

Collins could face challenges from Republicans, too. She is seen as one of a few moderate Republicans whose votes could weigh against President Donald Trump in his Senate impeachment trial, which begins in earnest on Tuesday.

A spokesman for the Collins for Senator campaign said in a statement that Demand Justice is “yet another out-of-state dark money group that thinks it can tell Mainers how to vote.”

“Unfortunately for them, people here in Maine like and trust Senator Collins and reject partisan groups like this that lie and distort the truth,” spokesman Kevin Kelley said.

Collins, who won her 2014 Senate reelection with 68% of the vote, is now one of the most vulnerable GOP lawmakers. She is the least popular lawmaker in the Senate, according to a new analysis of survey data compiled by Morning Consult. Her net approval rating declined 4 percentage points, to -10%, between the third and fourth quarters of 2019, Morning Consult found.

Collins is also running for reelection on a ticket with an unpopular Republican president in a state that has voted for every Democratic presidential candidate dating to Bill Clinton in 1992. Trump is 6 points underwater in net approval in Maine, according to Morning Consult.

Democrats have seized on Collins’ vulnerability. A campaign to raise funds for her Democratic opponent is nearing its $4 million goal.

Brian Fallon, Demand Justice’s executive director, said in a statement that the group will “make sure Mainers know the consequences of Collins’ vote to put Kavanaugh on the court.”

“Kavanaugh will likely be the deciding vote in a number of major cases this term, and Collins will own every one of those rulings,” Fallon said.

Collins has said she supports abortion rights, but reproductive rights groups were deeply skeptical of Kavanaugh’s nomination. Collins said at the time that she voted to confirm him after he assured her that he viewed Roe v. Wade, the landmark abortion ruling, as “settled law.”

The top court will hear its first abortion case with Kavanaugh on the bench in March, and a decision is expected by the end of June.

That case concerns the legality of a Louisiana abortion law that requires doctors who perform abortions to have admitting privileges at a hospital within 30 miles of the facility where the abortions are provided. Opponents have said the law would effectively limit the state to one abortion provider.

The Supreme Court temporarily blocked the law from going into effect in February. Kavanaugh wrote at the time that he would have allowed the law to go into effect in order to assess the impact it would have on the state’s abortion clinics. Chief Justice John Roberts joined the court’s four liberals to block the law.

Collins, pressed at the time to defend her vote for Kavanaugh, told CNN that she believed his dissent in the case was “very careful.”

“I think there is a deliberate misreading of what he actually wrote, or people have just assumed and not read the decision,” she said.

Demand Justice launched a similar ad campaign in October, marking the one-year anniversary of Collins’ Kavanaugh vote.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: tucker higgins
Keywords: news, cnbc, companies, confirm, senate, progressive, criticizing, justice, vote, collins, campaign, group, law, launches, abortion, susan, maine, kavanaugh


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Anti-abortion rights group Susan B. Anthony List to spend $52 million to help Trump win in 2020

Anti-abortion rights group Susan B. Anthony List launched on Friday a $52 million effort to support President Donald Trump’s re-election bid, a day after Planned Parenthood pledged $45 million to support candidates in favor of abortion rights in 2020. The $52 million effort from SBA could boost Trump’s outreach to anti-abortion rights voters. “Democratic contenders for president are lining up to support abortion on demand, and even infanticide, and declaring war on even the most modest pro-life


Anti-abortion rights group Susan B. Anthony List launched on Friday a $52 million effort to support President Donald Trump’s re-election bid, a day after Planned Parenthood pledged $45 million to support candidates in favor of abortion rights in 2020.
The $52 million effort from SBA could boost Trump’s outreach to anti-abortion rights voters.
“Democratic contenders for president are lining up to support abortion on demand, and even infanticide, and declaring war on even the most modest pro-life
Anti-abortion rights group Susan B. Anthony List to spend $52 million to help Trump win in 2020 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: yelena dzhanova
Keywords: news, cnbc, companies, states, susan, trump, election, york, abortion, trumps, win, list, court, group, help, million, support, president, rights, spend


Anti-abortion rights group Susan B. Anthony List to spend $52 million to help Trump win in 2020

President Donald Trump listens to a question during a joint news conference with Finland’s President Sauli Niinisto in East Room of the White House in Washington, October 2, 2019.

Anti-abortion rights group Susan B. Anthony List launched on Friday a $52 million effort to support President Donald Trump’s re-election bid, a day after Planned Parenthood pledged $45 million to support candidates in favor of abortion rights in 2020.

The two numbers represent the largest election spends in either group’s history.

The $52 million effort from SBA could boost Trump’s outreach to anti-abortion rights voters.

SBA List, via its super PAC Women Speak Out, will use the money to canvass what the organization has called “key battleground states,” including Arizona, Florida, North Carolina, Iowa, Georgia, Michigan, Pennsylvania, Texas, and Wisconsin.

“The stakes of this election could not be higher,” said SBA List spokesperson Mallory Quigley in a statement to CNBC. “Democratic contenders for president are lining up to support abortion on demand, and even infanticide, and declaring war on even the most modest pro-life policies. Meanwhile, President Trump has governed as the most pro-life president in our nation’s history.”

Multiple states in 2019 tightened the restrictions on abortion. Other states, like New York, Virginia and Maine, expanded abortion access. In January 2019, New York Gov. Andrew Cuomo passed the Reproductive Health Act, a law that allows people to receive an abortion after the 24th week of pregnancy in cases where the health of the person giving birth is on the line or if the baby would not survive the birth. Previously, the New York law only allowed an abortion after 24 weeks if the person giving birth would not survive.

Trump once identified as “very pro-choice,” saying in a 1999 Meet the Press interview, “I hate the concept of abortion. I hate everything it stands for. I cringe when I listen to people debating the subject. But I still believe in choice.”

But during his 2016 campaign, the president targeted anti-abortion rights voters, appearing at rallies and major fundraisers and vowing to defund global family planning efforts at the United Nations.

“From now until Election Day, our team will go door-to-door visiting traditional Democrat voter groups who may simply be unaware of the Democrats’ support for extreme pro-abortion policies,” Quigley said. “Our focused, battle-tested voter outreach method will ensure we reach the voters who can provide President Trump and pro-life Senate candidates the winning margin on Election Day.”

Planned Parenthood’s super PAC on Thursday unveiled a $45 million plan to support candidates in favor of abortion rights at the presidential, congressional, and state levels.

Read more: Planned Parenthood will spend $45 million in 2020 elections to support abortion-rights candidates

Both efforts come after a volatile year for abortion-rights groups.

Republican-led states last year, emboldened by the Supreme Court’s new conservative majority and President Donald Trump’s anti-abortion policies, passed 59 abortion restrictions. Also in 2019, a wave of state-led abortion bans defined the year in reproductive rights news. Each was temporarily blocked in court, but some states will appeal to higher courts.

Read more: The battle over abortion rights: Here’s what’s at stake in 2020

Experts project 2020 could be just as volatile.

The Supreme Court in March will take up its first major abortion-related case with both of Trump’s appointees, Justices Neil Gorsuch and Brett Kavanaugh, on the bench.

The high court will review a 2014 Louisiana law that requires doctors who perform abortions to have admitting privileges at a hospital within 30 miles of the facility where the abortions are provided. Opponents said it would effectively leave one abortion provider for a state with about 4.6 million residents.

On Jan. 2, 207 lawmakers, including two Democrats, filed an amicus brief in the case, urging the Supreme Court to reconsider Roe v. Wade, the 1973 landmark decision that legalized abortion.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: yelena dzhanova
Keywords: news, cnbc, companies, states, susan, trump, election, york, abortion, trumps, win, list, court, group, help, million, support, president, rights, spend


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JP Morgan values UK electric car start-up at $3.3 billion after Hyundai & Kia invest

The Hyundai Motor Company and Kia Motors Corporation have made a 100 million euro ($111.65 million) investment in Arrival, a little-known U.K. based start-up specializing in electric vehicles. “This investment is part of an open innovation strategy pursued by Hyundai and Kia,” Youngcho Chi, president and chief innovation officer at the Hyundai Motor Group, said in a statement. The last few years have seen several major automotive firms make significant plays in the electric vehicle sector. In No


The Hyundai Motor Company and Kia Motors Corporation have made a 100 million euro ($111.65 million) investment in Arrival, a little-known U.K. based start-up specializing in electric vehicles.
“This investment is part of an open innovation strategy pursued by Hyundai and Kia,” Youngcho Chi, president and chief innovation officer at the Hyundai Motor Group, said in a statement.
The last few years have seen several major automotive firms make significant plays in the electric vehicle sector.
In No
JP Morgan values UK electric car start-up at $3.3 billion after Hyundai & Kia invest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: anmar frangoul
Keywords: news, cnbc, companies, electric, investment, hyundai, morgan, invest, group, car, vehicle, million, cars, values, kia, startup, motor


JP Morgan values UK electric car start-up at $3.3 billion after Hyundai & Kia invest

The Hyundai Motor Company and Kia Motors Corporation have made a 100 million euro ($111.65 million) investment in Arrival, a little-known U.K. based start-up specializing in electric vehicles.

According to Arrival, the investment values the company, which was established in 2015, at a staggering 3 billion euros. J.P. Morgan led the firm’s funding round and valuation.

In an announcement Thursday, it was explained that the new partnership would allow for the “co-development of eco-friendly vans and other products for logistics, on-demand ride-hailing, and shuttle service companies.”

Hyundai will invest 80 million euros, with Kia contributing 20 million.

Arrival develops materials, software and components, while its scalable electric platform “can be adapted for multiple vehicle categories,” according to Thursday’s announcement.

At the moment, the firm is undertaking pilot projects with logistics companies in Europe that use vans built with its technology.

“This investment is part of an open innovation strategy pursued by Hyundai and Kia,” Youngcho Chi, president and chief innovation officer at the Hyundai Motor Group, said in a statement.

“We will accelerate investment and cooperation with companies with advanced technology such as Arrival, to respond to the rapidly changing eco-friendly vehicle market,” he added.

The last few years have seen several major automotive firms make significant plays in the electric vehicle sector.

In November, the Volkswagen Group officially started series production of its ID.3 electric car, with the German car maker planning to launch “almost 70 new electric models” on its platform by 2028.

Hyundai Motor Group has said it will launch 23 battery electric vehicles over the next few years, while Volvo Cars wants 50% of the cars it sells to be fully electric by 2025.

Worldwide electric car sales hit 1.98 million in 2018, according to the International Energy Agency (IEA), with global stock reaching 5.12 million.

2017 also saw more than one million sales according to the IEA, with the amount of electric cars on the road exceeding 3 million, a more than 50% increase compared to 2016.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: anmar frangoul
Keywords: news, cnbc, companies, electric, investment, hyundai, morgan, invest, group, car, vehicle, million, cars, values, kia, startup, motor


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Regional banking stocks look like a buy if they drop to this level, chart indicates

The big banks have wrapped up their earnings, and Wall Street looks ahead to the regional banks reporting in coming days. The KRE regional banking ETF has bounced nearly 20% off an August low, though it has begun to ease back. The KRE ETF was trading at $57.27 midday Thursday. Tengler instead gets financials exposure through the big banks, including J.P. Morgan, BlackRock, Morgan Stanley and Goldman Sachs. Disclosure: Laffer Tengler Investments holds J.P. Morgan, BlackRock, Morgan Stanley and Go


The big banks have wrapped up their earnings, and Wall Street looks ahead to the regional banks reporting in coming days.
The KRE regional banking ETF has bounced nearly 20% off an August low, though it has begun to ease back.
The KRE ETF was trading at $57.27 midday Thursday.
Tengler instead gets financials exposure through the big banks, including J.P. Morgan, BlackRock, Morgan Stanley and Goldman Sachs.
Disclosure: Laffer Tengler Investments holds J.P. Morgan, BlackRock, Morgan Stanley and Go
Regional banking stocks look like a buy if they drop to this level, chart indicates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: keris lahiff
Keywords: news, cnbc, companies, look, stocks, indicates, buy, group, morgan, drop, kre, banks, looks, etf, chart, level, regional, banking, think, tengler, going


Regional banking stocks look like a buy if they drop to this level, chart indicates

The big banks have wrapped up their earnings, and Wall Street looks ahead to the regional banks reporting in coming days.

Regions Financial, First Horizon National and Citizens Financial Group are set to release quarterly results on Friday, while Zions, Old National Bancorp, Comerica and Pinnacle Financial are scheduled for next week.

The group heads into those earnings in good shape. The KRE regional banking ETF has bounced nearly 20% off an August low, though it has begun to ease back. Matt Maley, chief market strategist at Miller Tabak, called the rally.

“We turned bullish on the bank stocks back in August when our work showed that the long-term interest rates were going to rally, were going to bounce and the bank stocks did rally in the mid-December, got a little overbought and are starting to pull back,” Maley said on CNBC’s “Trading Nation” on Wednesday.

“One of the reasons I’m bullish is I do think that the Fed, the ECB and the BOJ, all these central banks, one of their goals for this year is to steepen the yield curve, and that’s going to be very bullish for the banks,” said Maley.

He added that a decent entry point to the group would present itself if the ETF moved back down to the $55 level.

“That would be its December lows, and its trend line from August, that should provide some excellent support for the KRE and should provide a good opportunity to get back into the group,” said Maley.

The KRE ETF was trading at $57.27 midday Thursday.

Nancy Tengler, CIO at Laffer Tengler Investments, sees signs of more trouble for the group.

“U.S. Bancorp reported [Wednesday] and kind of confirmed our fears — we happen to own the stock unfortunately — that the regionals are getting squeezed a little bit, the rate cuts hurt them. Even the steepening yield curve in the fourth quarter didn’t really help much and they’re guiding lower for their interest income in 2020,” Tengler said during the same segment.

Tengler instead gets financials exposure through the big banks, including J.P. Morgan, BlackRock, Morgan Stanley and Goldman Sachs.

“If you’re going to play the group and I think it looks super interesting in here, you do want to do it through an ETF like the KRE because you don’t want to take this specific stock risk that you’re going to get from management teams at the regional banks and the small ones in particular, so I think it looks interesting. I’d let it go through earnings season and then pick it up after that,” said Tengler.

Disclosure: Laffer Tengler Investments holds J.P. Morgan, BlackRock, Morgan Stanley and Goldman Sachs.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: keris lahiff
Keywords: news, cnbc, companies, look, stocks, indicates, buy, group, morgan, drop, kre, banks, looks, etf, chart, level, regional, banking, think, tengler, going


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Holiday sales climb 4.1%, retail industry trade group says, on the higher end of estimates

NRF, the retail industry’s leading trade group, had previously forecast that retail sales excluding automobile dealers, gasoline stations and restaurants during November and December would increase between 3.8% and 4.2%. Data for November was also revised up to show retail sales gaining 0.3%, instead of rising 0.2% as previously reported. Economists polled by Reuters had forecast retail sales would gain 0.3% in December. Compared with December 2018, retail sales accelerated 5.8%. A slew of compa


NRF, the retail industry’s leading trade group, had previously forecast that retail sales excluding automobile dealers, gasoline stations and restaurants during November and December would increase between 3.8% and 4.2%.
Data for November was also revised up to show retail sales gaining 0.3%, instead of rising 0.2% as previously reported.
Economists polled by Reuters had forecast retail sales would gain 0.3% in December.
Compared with December 2018, retail sales accelerated 5.8%.
A slew of compa
Holiday sales climb 4.1%, retail industry trade group says, on the higher end of estimates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: lauren thomas
Keywords: news, cnbc, companies, 2018, holiday, group, nrf, season, climb, reported, previously, sales, economy, trade, industry, retail, higher, estimates, forecast, end


Holiday sales climb 4.1%, retail industry trade group says, on the higher end of estimates

A Walmart worker organizes products for Christmas season at a Walmart store in Teterboro, New Jersey.

Holiday retail sales in 2019 grew 4.1%, amounting to $730.2 billion and coming in at the high end of a previously issued forecast, the National Retail Federation said in a press release on Thursday.

NRF, the retail industry’s leading trade group, had previously forecast that retail sales excluding automobile dealers, gasoline stations and restaurants during November and December would increase between 3.8% and 4.2%. It had expected online sales to rise between 11% and 14%.

Online sales during the holidays slightly topped NRF’s expectations, climbing 14.6%, to $167.8 billion, NRF said Thursday.

“This is a consumer-driven economy, and by any measure, the consumer has put the economy in a solid position for continued growth,” NRF President and CEO Matt Shay said in a statement. “This is a strong finish to the holiday season, and we think it’s a positive indicator of what’s ahead.”

The 2018 holiday season saw meager growth of just 2.1%, thanks in large part to a government shutdown, stock market volatility and interest rate hikes.

The Commerce Department said earlier Thursday that U.S. retail sales increased 0.3% last month. Data for November was also revised up to show retail sales gaining 0.3%, instead of rising 0.2% as previously reported. Economists polled by Reuters had forecast retail sales would gain 0.3% in December. Compared with December 2018, retail sales accelerated 5.8%.

NRF’s numbers are based on data from the U.S. Census Bureau.

“This was a healthy holiday season, especially compared with the decline in retail sales we saw at the end of the season in 2018,” NRF chief economist Jack Kleinhenz said. “Despite a late Thanksgiving and worries about tariffs, the consumer didn’t go away.”

Strong employment and higher wages also gave consumers “a sense of confidence about their ability to spend, and they did their part to keep the economy moving,” Kleinhenz added.

A slew of companies have already reported holiday sales, and many of them have underwhelmed. Department store chains Macy’s, Kohl’s and J.C. Penney all reported same-store sales declines. But there were bright spots in Lululemon and Jared owner Signet Jewelers.

Amazon has also said it had a “record” holiday season, though it hasn’t released any sales figures.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: lauren thomas
Keywords: news, cnbc, companies, 2018, holiday, group, nrf, season, climb, reported, previously, sales, economy, trade, industry, retail, higher, estimates, forecast, end


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Why Domino’s is a dud in the Nordics

In Sweden and Norway, Domino’s is struggling. Domino’s Pizza Group, the UK-based franchise of American chain Domino’s Pizza Inc., operates restaurants in Iceland, Norway and Sweden. In October 2019, Domino’s Pizza Group announced it would exit those countries. On a call with analysts, Domino’s Pizza Group CEO David Wild said “whilst these markets are attractive, we are not the best owners of the businesses.” Does Domino’s have a future in the Nordic countries?


In Sweden and Norway, Domino’s is struggling.
Domino’s Pizza Group, the UK-based franchise of American chain Domino’s Pizza Inc., operates restaurants in Iceland, Norway and Sweden.
In October 2019, Domino’s Pizza Group announced it would exit those countries.
On a call with analysts, Domino’s Pizza Group CEO David Wild said “whilst these markets are attractive, we are not the best owners of the businesses.”
Does Domino’s have a future in the Nordic countries?
Why Domino’s is a dud in the Nordics Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: marilyn haigh
Keywords: news, cnbc, companies, nordic, dominos, sweden, group, countries, norway, nordics, small, pizza, market, markets, dud


Why Domino's is a dud in the Nordics

Iceland is a notoriously tough market for international fast food chains to break into. Domino’s has been the exception — the American pizza chain has 37.6% market share in Iceland’s fast-food industry, according to Meniga.

But that affinity doesn’t extend to other Nordic countries. In Sweden and Norway, Domino’s is struggling.

Domino’s Pizza Group, the UK-based franchise of American chain Domino’s Pizza Inc., operates restaurants in Iceland, Norway and Sweden. In October 2019, Domino’s Pizza Group announced it would exit those countries. Norway and Sweden haven’t been profitable markets for Domino’s, and are in different stages of development.

High labor costs, weakening economic conditions in Northern Europe and growing competition for a small delivery market contributed to Domino’s weak performance in those countries.

On a call with analysts, Domino’s Pizza Group CEO David Wild said “whilst these markets are attractive, we are not the best owners of the businesses.”

Analysts say the future for Domino’s in the Nordic countries is uncertain.

“Let’s not forget, these are sort of sustained loss-making businesses,” said Natasha Brilliant, head of small and mid-cap equities at Citi Research. “They might not find a buyer for all of the markets, in which case they’ll simply have to close them down.”

Does Domino’s have a future in the Nordic countries? Watch the video above to learn why the chain’s expansion there didn’t work.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: marilyn haigh
Keywords: news, cnbc, companies, nordic, dominos, sweden, group, countries, norway, nordics, small, pizza, market, markets, dud


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