Stocks in China mostly tumble; Japan markets closed for 10-day holiday

Shares in the Asia Pacific region were mixed on Monday, while markets in Japan were closed for a holiday. Mainland Chinese shares fell by the close, with the Shanghai composite 0.77% lower at 3,062.50 and the Shenzhen component dropping about 2.88% to 9,622.49. One investor told CNBC valuations in Chinese markets were “a little bit expensive” at the moment. During such scenarios when historical valuations are “getting a little bit stretched,” investors tend to “take a bit of profit,” he added. M


Shares in the Asia Pacific region were mixed on Monday, while markets in Japan were closed for a holiday. Mainland Chinese shares fell by the close, with the Shanghai composite 0.77% lower at 3,062.50 and the Shenzhen component dropping about 2.88% to 9,622.49. One investor told CNBC valuations in Chinese markets were “a little bit expensive” at the moment. During such scenarios when historical valuations are “getting a little bit stretched,” investors tend to “take a bit of profit,” he added. M
Stocks in China mostly tumble; Japan markets closed for 10-day holiday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: eustance huang
Keywords: news, cnbc, companies, markets, holiday, japan, 10day, profit, tumble, stocks, historical, hand, composite, bit, closed, valuations, shares, china, chinese, index


Stocks in China mostly tumble; Japan markets closed for 10-day holiday

Shares in the Asia Pacific region were mixed on Monday, while markets in Japan were closed for a holiday.

Mainland Chinese shares fell by the close, with the Shanghai composite 0.77% lower at 3,062.50 and the Shenzhen component dropping about 2.88% to 9,622.49. The Shenzhen composite also declined 2.412% to 1,625.62.

The CSI 300, which tracks the largest shares on the mainland, on the other hand, rose 0.28% to finish at 3,900.33. Shenzhen-listed shares of electric vehicle maker BYD gained 0.52% after the company reported a 632% surge in first-quarter net profit. Its Hong Kong-listed counterpart, on the other hand, declined more than 0.8%.

One investor told CNBC valuations in Chinese markets were “a little bit expensive” at the moment.

“When you sort of look at both the valuation levels on a P/E basis as well as on a price-to-book basis for MSCI China, they’re already above its 10 and 15 year historical averages. With the CSI 300, they’re very much approaching their historical averages,” Ken Wong, Asia equity portfolio specialist at Eastspring Investments, told CNBC’s “Squawk Box” on Monday.

During such scenarios when historical valuations are “getting a little bit stretched,” investors tend to “take a bit of profit,” he added. “That’s exactly what we saw last week.”

Mainland Chinese markets stumbled to their worst weekly performance since October last week, with the Shanghai composite dropping more than 5.5%.

Research firm Capital Economics attributed the weakness to comments made by China’s top decision-making body about the country’s economic stimulus plans. While Chinese officials said they would continue to support the economy, better-than-expected first-quarter GDP results sparked worries about potential near-term policy easing.

Meanwhile, Hong Kong’s Hang Seng index advanced 0.88% in its final hour of trading.

The MSCI Asia-ex Japan index also rose 0.53% to 540.53, as of 3:20 p.m. HK/SIN.

In South Korea, the Kospi added 1.70%, with shares of industry heavyweight Samsung Electronics jumping 2.90% ahead of its earnings release on Tuesday.

The ASX 200 in Australia, on the other hand, slipped 0.41% to close at 6,359.50.

Singapore’s Straits Times Index jumped 1.54% in afternoon trade as shares of DBS Group, Southeast Asia’s biggest lender, surged more than 3.4% after it reported a record quarterly profit. The shares of other banks in Singapore also climbed, with Oversea-Chinese Banking Corp rising more than 2%, and United Overseas Bank up more than 2.8%.

Japan is currently on a 10-day holiday from April 27 to May 6 to celebrate the enthronement of the country’s Crown Prince Naruhito.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: eustance huang
Keywords: news, cnbc, companies, markets, holiday, japan, 10day, profit, tumble, stocks, historical, hand, composite, bit, closed, valuations, shares, china, chinese, index


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Lululemon shares soar 9% as strong holiday sales fuel earnings beat

Lululemon shares soared 9 percent after the market closed Wednesday as fiscal fourth-quarter earnings and sales outpaced analyst estimates. “We are energized to build upon our momentum and to seize the many opportunities ahead for Lululemon around the world.” Strong sales during the holiday quarter helped the company top estimates and reach its goal of exceeding $1 billion earlier than expected. Lululemon expects revenue in the range of $3.70 billion and $3.74 billion, higher than the forecast o


Lululemon shares soared 9 percent after the market closed Wednesday as fiscal fourth-quarter earnings and sales outpaced analyst estimates. “We are energized to build upon our momentum and to seize the many opportunities ahead for Lululemon around the world.” Strong sales during the holiday quarter helped the company top estimates and reach its goal of exceeding $1 billion earlier than expected. Lululemon expects revenue in the range of $3.70 billion and $3.74 billion, higher than the forecast o
Lululemon shares soar 9% as strong holiday sales fuel earnings beat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: maggie fitzgerald, xaume olleros, bloomberg, getty images
Keywords: news, cnbc, companies, rose, holiday, quarter, fuel, revenue, million, retailer, sales, estimates, strong, earnings, soar, billion, lululemon, shares, share, beat


Lululemon shares soar 9% as strong holiday sales fuel earnings beat

Lululemon shares soared 9 percent after the market closed Wednesday as fiscal fourth-quarter earnings and sales outpaced analyst estimates.

Here’s what the retailer reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $1.85 per share, vs. $1.74 per share

Revenue: $1.17 billion, vs. $1.15 billion

Same store sales: rise 16 percent, in line with estimates

“Lululemon has delivered one of its strongest years yet, a result of broad-based strength across the business,” CEO Calvin McDonald said in a press release. “We are energized to build upon our momentum and to seize the many opportunities ahead for Lululemon around the world.”

In the quarter ended Feb. 3, Lululemon said net income rose to $218.5 million, or $1.65 per share, from $119.8 million, or 88 cents per share. Excluding items, the retailer earned $1.85 per share topping estimates of $1.74 per share.

Strong sales during the holiday quarter helped the company top estimates and reach its goal of exceeding $1 billion earlier than expected. Revenue rose to $1.17 billion from $928 million in the year-ago quarter.

Sales at stores open at least 12 months rose 16 percent, in line with estimates. After adjusting for currency fluctuations, same-store sales were up 17 percent. Both measures exclude revenue from the last week of fiscal 2018.

In fiscal 2019, the company earnings of between $4.48 and $4.55 per share, ahead of $4.40 per share, analysts expected. Lululemon expects revenue in the range of $3.70 billion and $3.74 billion, higher than the forecast of $3.27 billion.

For the first quarter, Lululemon expects to see revenue between $740 million and $750 million, in line with estimates of $743 million. They see earnings per share between 68 and 70 cents, slightly higher than the 67 cent expectation.

The retailer also announced a $500 million stock repurchase program.

The Vancouver-based company’s shares are up more than 80 percent over the past 12 months and more than 20 percent year to date, more than double the S&P 500 Retail ETF’s (XRT’s) growth of about 8.5 percent.

Lululemon’s expansion into men’s apparel helped revenue growth in the third-quarter, seeing the highest category increases overall.

Earlier this month, Lululemon announced that former Philadelphia Eagles Superbowl quarterback Nick Foles signed on as the brand’s first men’s ambassador.


Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: maggie fitzgerald, xaume olleros, bloomberg, getty images
Keywords: news, cnbc, companies, rose, holiday, quarter, fuel, revenue, million, retailer, sales, estimates, strong, earnings, soar, billion, lululemon, shares, share, beat


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Shares of Victoria’s Secret-owner L Brands plunge on weak forecast, mixed holiday results

L Brands, owner of Victoria’s Secret and Bath & Body Works, on Wednesday reported mixed results in the holiday quarter that sent shares of the company down more than 5 percent. Same-store sales at its Victoria’s Secret brand have struggled to keep up with changing tastes and new competition, and fell 3 percent. Dragged down by the weakness at Victoria’s Secret, L Brands same-store sales fell 3 percent in the latest period. Excluding items, L Brands earned $2.14 per share, beating the the $2.07 p


L Brands, owner of Victoria’s Secret and Bath & Body Works, on Wednesday reported mixed results in the holiday quarter that sent shares of the company down more than 5 percent. Same-store sales at its Victoria’s Secret brand have struggled to keep up with changing tastes and new competition, and fell 3 percent. Dragged down by the weakness at Victoria’s Secret, L Brands same-store sales fell 3 percent in the latest period. Excluding items, L Brands earned $2.14 per share, beating the the $2.07 p
Shares of Victoria’s Secret-owner L Brands plunge on weak forecast, mixed holiday results Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: lauren hirsch, getty images
Keywords: news, cnbc, companies, billion, victorias, works, holiday, secret, reported, bra, sales, shares, weak, forecast, share, secretowner, mixed, brands, plunge, results


Shares of Victoria's Secret-owner L Brands plunge on weak forecast, mixed holiday results

L Brands, owner of Victoria’s Secret and Bath & Body Works, on Wednesday reported mixed results in the holiday quarter that sent shares of the company down more than 5 percent.

Same-store sales at its Victoria’s Secret brand have struggled to keep up with changing tastes and new competition, and fell 3 percent.

The brand, which was once known for its sexy bras, has lost out as women have switched to more comfortable bra styles and brands that seem more inclusive from the likes of American Eagle’s Aerie, Third Love, Lively and Adore Me. The $7.2 billion bra category is also seeing new competition from Target, which this spring plans to launch three new lines of lingerie and sleepwear.

Millennials, which comprise more than a third of the women’s intimate apparel market, spent a third of its bra dollars in 2018 on sports bras, according to retail trade group the NPD Group.

Bath & Body Works, meantime, continues to perform strongly. he fragrance and personal care shop grew same-store sales by 12 percent.

Dragged down by the weakness at Victoria’s Secret, L Brands same-store sales fell 3 percent in the latest period.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $2.14, adjusted, vs. $2.07 expected

Revenue: $4.85 billion vs. $4.88 billion expected

L Brands reported fiscal fourth-quarter net income of $540 million, or $1.94 per share, down from $664 million, or $2.33 per share a year earlier.

Excluding items, L Brands earned $2.14 per share, beating the the $2.07 per share expected by analysts surveyed by Refinitiv.

Net sales rose to $4.85 billion, missing expectations of $4.88 billion.

L Brands said it expects earnings for 2019 will fall between $2.20 and $2.60 a share. That includes break-even earnings per share result in its first quarter.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: lauren hirsch, getty images
Keywords: news, cnbc, companies, billion, victorias, works, holiday, secret, reported, bra, sales, shares, weak, forecast, share, secretowner, mixed, brands, plunge, results


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Chinese tourism growth slows during the Lunar New Year holiday

Tourism growth in China slowed during this year’s major Spring Festival holiday, indicating overall sentiment around the economy has yet to turn around. Chinese New Year is typically spent visiting relatives, but as one of China’s few major public holiday seasons, it has increasingly become a popular time to travel. This year, the work holiday officially ran the first full week of February. The closely watched Chinese consumer has become a significant force in overseas travel. The auto sector —


Tourism growth in China slowed during this year’s major Spring Festival holiday, indicating overall sentiment around the economy has yet to turn around. Chinese New Year is typically spent visiting relatives, but as one of China’s few major public holiday seasons, it has increasingly become a popular time to travel. This year, the work holiday officially ran the first full week of February. The closely watched Chinese consumer has become a significant force in overseas travel. The auto sector —
Chinese tourism growth slows during the Lunar New Year holiday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: evelyn cheng, vcg, getty images
Keywords: news, cnbc, companies, tourism, slows, work, chinese, willing, lunar, watched, week, major, china, holiday, economy, growth, overseas


Chinese tourism growth slows during the Lunar New Year holiday

Tourism growth in China slowed during this year’s major Spring Festival holiday, indicating overall sentiment around the economy has yet to turn around.

Chinese New Year is typically spent visiting relatives, but as one of China’s few major public holiday seasons, it has increasingly become a popular time to travel. This year, the work holiday officially ran the first full week of February. Tuesday, the 15th day from the start of the Lunar New Year, marked the traditional end of the celebrations.

The closely watched Chinese consumer has become a significant force in overseas travel.

An increasing number of merchants overseas have adopted Chinese mobile pay, while many retailers have employed Mandarin-speaking staff. Within China, economic slowdown and uncertainty around issues such as the U.S.-China trade tensions have already put some pause on big-ticket purchases.

Car sales fell for a seventh straight month in January, data this week showed. The auto sector — a major part of the Chinese economy — is watched as a barometer on how much consumers are willing to spend.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: evelyn cheng, vcg, getty images
Keywords: news, cnbc, companies, tourism, slows, work, chinese, willing, lunar, watched, week, major, china, holiday, economy, growth, overseas


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Disney releases ‘Frozen 2’ trailer as it hopes for a big rebound at the holiday box office

After a paltry holiday box office last year, Disney is betting on the massive “Frozen” and “Star Wars” franchises to score big in 2019. “Frozen” was a breakout hit for Disney Animation, garnering more than $400 million at the domestic box office. The two films are expected to dominate the holiday box office, something Disney desperately needs after a lukewarm showing in 2018. The company racked up $388 million in domestic box office grosses, according to data from Comscore. In 2017, Disney relea


After a paltry holiday box office last year, Disney is betting on the massive “Frozen” and “Star Wars” franchises to score big in 2019. “Frozen” was a breakout hit for Disney Animation, garnering more than $400 million at the domestic box office. The two films are expected to dominate the holiday box office, something Disney desperately needs after a lukewarm showing in 2018. The company racked up $388 million in domestic box office grosses, according to data from Comscore. In 2017, Disney relea
Disney releases ‘Frozen 2’ trailer as it hopes for a big rebound at the holiday box office Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: sarah whitten
Keywords: news, cnbc, companies, box, billion, wars, big, released, holiday, trailer, film, hopes, office, sequels, frozen, rebound, releases, star, disney


Disney releases 'Frozen 2' trailer as it hopes for a big rebound at the holiday box office

After a paltry holiday box office last year, Disney is betting on the massive “Frozen” and “Star Wars” franchises to score big in 2019.

On Wednesday, the company dropped its first teaser trailer for “Frozen 2,” the highly anticipated sequel to the 2013 hit.

Audiences have been patiently awaiting the sequel’s release since the voice actors of Anna and Olaf, Kristen Bell and Josh Gad, first tweeted about it in 2017.

“Frozen” was a breakout hit for Disney Animation, garnering more than $400 million at the domestic box office.

The film, which introduced fans to characters such as Olaf the snowman, Princess Anna and Queen Elsa, went on to earn more than $1.2 billion worldwide at the box office and win the Academy Award for Best Animated Feature film in 2014.

With the success of sequels such as “Finding Dory,” which garnered about $1.03 billion at the box office in 2016, it’s no surprise Disney was keen to bring the cast of “Frozen” back to the big screen.

Watch it here:

In addition to “Frozen 2,” moviegoers can expect to see the yet-unnamed “Star Wars: Episode IX,” the final film in Lucasfilm’s most recent “Star Wars” trilogy, in theaters in December 2019.

The two films are expected to dominate the holiday box office, something Disney desperately needs after a lukewarm showing in 2018.

Last year, Disney released “The Nutcracker and the Four Realms,” “Ralph Breaks the Internet” and “Mary Poppins Returns” during its fiscal first quarter. The company racked up $388 million in domestic box office grosses, according to data from Comscore.

In 2017, Disney released “Coco,” “Thor: Ragnarok” and “The Last Jedi” during the same time period. Together the three films made more than $1 billion at the box office in North America.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: sarah whitten
Keywords: news, cnbc, companies, box, billion, wars, big, released, holiday, trailer, film, hopes, office, sequels, frozen, rebound, releases, star, disney


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China retail earnings up 8.5 percent during new year holiday, Commerce Ministry says

China’s retailer and catering enterprises earned over 1 trillion yuan ($148.3 billion) during the Lunar New Year holiday, defying an economic slump to rise 8.5 percent from last year, the country’s commerce ministry said late on Sunday. The increase was down to the rapid growth in sales of new-year gifts, traditional foods, electronic products and local speciality products over a six-day holiday period ending on Saturday, the Ministry of Commerce said in a notice on its website. Domestic tourism


China’s retailer and catering enterprises earned over 1 trillion yuan ($148.3 billion) during the Lunar New Year holiday, defying an economic slump to rise 8.5 percent from last year, the country’s commerce ministry said late on Sunday. The increase was down to the rapid growth in sales of new-year gifts, traditional foods, electronic products and local speciality products over a six-day holiday period ending on Saturday, the Ministry of Commerce said in a notice on its website. Domestic tourism
China retail earnings up 8.5 percent during new year holiday, Commerce Ministry says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: vcg, getty images
Keywords: news, cnbc, companies, websitedomestic, billion, yuan, retail, trips, xinhua, 85, earnings, products, official, holiday, commerce, china, ministry


China retail earnings up 8.5 percent during new year holiday, Commerce Ministry says

China’s retailer and catering enterprises earned over 1 trillion yuan ($148.3 billion) during the Lunar New Year holiday, defying an economic slump to rise 8.5 percent from last year, the country’s commerce ministry said late on Sunday.

The increase was down to the rapid growth in sales of new-year gifts, traditional foods, electronic products and local speciality products over a six-day holiday period ending on Saturday, the Ministry of Commerce said in a notice on its website.

Domestic tourism during the new year break generated total revenues of 513.9 billion yuan, up 8.2 percent on the year, with the number of trips rising 7.6 percent to 415 million, the official Xinhua news agency said on Sunday, citing official data.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: vcg, getty images
Keywords: news, cnbc, companies, websitedomestic, billion, yuan, retail, trips, xinhua, 85, earnings, products, official, holiday, commerce, china, ministry


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The best Valentine’s travel experiences from around the world to suit all budgets

Valentine’s Day is just around the corner, and with it, opportunities aplenty to treat your loved one — or even yourself. But while chocolates and roses are always welcome, lovers are increasingly looking for new and inspired ways to show they care. Millennials the world over are renowned for prioritizing travel over material goods; and when it comes to celebrating the romantic holiday, it seems things are little different. In 2018, in the U.S. alone, lovers spent nearly $20 billion on Valentine


Valentine’s Day is just around the corner, and with it, opportunities aplenty to treat your loved one — or even yourself. But while chocolates and roses are always welcome, lovers are increasingly looking for new and inspired ways to show they care. Millennials the world over are renowned for prioritizing travel over material goods; and when it comes to celebrating the romantic holiday, it seems things are little different. In 2018, in the U.S. alone, lovers spent nearly $20 billion on Valentine
The best Valentine’s travel experiences from around the world to suit all budgets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: karen gilchrist, aleksandarnakic, getty images
Keywords: news, cnbc, companies, lovers, best, world, valentines, yearhowever, budgets, continue, holiday, suit, welcome, travel, experiences, day, millennials


The best Valentine's travel experiences from around the world to suit all budgets

Valentine’s Day is just around the corner, and with it, opportunities aplenty to treat your loved one — or even yourself. But while chocolates and roses are always welcome, lovers are increasingly looking for new and inspired ways to show they care.

One of the growing areas for that is travel. Millennials the world over are renowned for prioritizing travel over material goods; and when it comes to celebrating the romantic holiday, it seems things are little different.

Last year, global travel bookings platform Klook recorded a 100 percent rise in couples’ purchases in February compared to March. This year, it expects that trend to continue and has introduced a “For Lovers” filter specifically to assist with the anticipated demand.

The pattern is in line with ever-increasing spending on Feb. 14. In 2018, in the U.S. alone, lovers spent nearly $20 billion on Valentine’s Day. Millennials are expected to continue spend big bucksthis year.

However, the holiday needn’t break the bank. CNBC Make It took a look at some of the most on-trend travel experiences to suit all budgets this Valentine’s.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: karen gilchrist, aleksandarnakic, getty images
Keywords: news, cnbc, companies, lovers, best, world, valentines, yearhowever, budgets, continue, holiday, suit, welcome, travel, experiences, day, millennials


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The best Valentine’s travel experiences from around the world to suit all budgets

Valentine’s Day is just around the corner, and with it, opportunities aplenty to treat your loved one — or even yourself. But while chocolates and roses are always welcome, lovers are increasingly looking for new and inspired ways to show they care. Millennials the world over are renowned for prioritizing travel over material goods; and when it comes to celebrating the romantic holiday, it seems things are little different. In 2018, in the U.S. alone, lovers spent nearly $20 billion on Valentine


Valentine’s Day is just around the corner, and with it, opportunities aplenty to treat your loved one — or even yourself. But while chocolates and roses are always welcome, lovers are increasingly looking for new and inspired ways to show they care. Millennials the world over are renowned for prioritizing travel over material goods; and when it comes to celebrating the romantic holiday, it seems things are little different. In 2018, in the U.S. alone, lovers spent nearly $20 billion on Valentine
The best Valentine’s travel experiences from around the world to suit all budgets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: karen gilchrist, aleksandarnakic, getty images
Keywords: news, cnbc, companies, suit, valentines, world, travel, day, welcome, holiday, millennials, budgets, continue, yearhowever, experiences, lovers, best


The best Valentine's travel experiences from around the world to suit all budgets

Valentine’s Day is just around the corner, and with it, opportunities aplenty to treat your loved one — or even yourself. But while chocolates and roses are always welcome, lovers are increasingly looking for new and inspired ways to show they care.

One of the growing areas for that is travel. Millennials the world over are renowned for prioritizing travel over material goods; and when it comes to celebrating the romantic holiday, it seems things are little different.

Last year, global travel bookings platform Klook recorded a 100 percent rise in couples’ purchases in February compared to March. This year, it expects that trend to continue and has introduced a “For Lovers” filter specifically to assist with the anticipated demand.

The pattern is in line with ever-increasing spending on Feb. 14. In 2018, in the U.S. alone, lovers spent nearly $20 billion on Valentine’s Day. Millennials are expected to continue spend big bucksthis year.

However, the holiday needn’t break the bank. CNBC Make It took a look at some of the most on-trend travel experiences to suit all budgets this Valentine’s.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: karen gilchrist, aleksandarnakic, getty images
Keywords: news, cnbc, companies, suit, valentines, world, travel, day, welcome, holiday, millennials, budgets, continue, yearhowever, experiences, lovers, best


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Democrats want to make Election Day a national holiday—here’s why

Ever wish you got the day off for Election Day? The first bill House Democrats introduced this January included a wide range of anti-corruption measures—and a proposal to make Election Day a national holiday. The proposal is just the latest of many over the years to turn Election Day into a National holiday. Election Day was also often considered an unofficial holiday. For instance, weekday voting is disproportionately difficult for single parents and those who work multiple jobs, according to t


Ever wish you got the day off for Election Day? The first bill House Democrats introduced this January included a wide range of anti-corruption measures—and a proposal to make Election Day a national holiday. The proposal is just the latest of many over the years to turn Election Day into a National holiday. Election Day was also often considered an unofficial holiday. For instance, weekday voting is disproportionately difficult for single parents and those who work multiple jobs, according to t
Democrats want to make Election Day a national holiday—here’s why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: abigail hess, jonathan ernst
Keywords: news, cnbc, companies, voting, president, workers, voters, democrats, day, election, holidayheres, holiday, national, work, americans


Democrats want to make Election Day a national holiday—here's why

Ever wish you got the day off for Election Day? If lawmakers get their wish, that might just happen.

The first bill House Democrats introduced this January included a wide range of anti-corruption measures—and a proposal to make Election Day a national holiday.

While more than two-thirds of Americans polled by Pew Research have said they’d support such a measure, not everyone is a fan.

Senate Majority Leader Mitch McConnell called the proposal a “power grab” by Democrats.

“Just what America needs, another paid holiday and a bunch of government workers being paid to go out and work, I assume [for] our colleagues on the other side — on their campaigns,” he said on the Senate floor on January 30th.

The proposal is just the latest of many over the years to turn Election Day into a National holiday. The bill would change a practice that dates back to a law passed under President John Tyler in 1845, one that established a firm tradition: Voting would occur on a Tuesday and in November.

“Be it enacted by the Senate and House of Representatives of the United States of America and in Congress assembled, that the electors of the President and Vice President shall be appointed in each state on the Tuesday next after the first Monday in the month of November,” reads the statute.

At the time, the U.S. was mostly agrarian and legislators believed that voting on Tuesday would allow rural voters to attend religious services while still having time to travel to the polls. Voting in November also ensured that the election wouldn’t interfere with seasonal farming schedules.

Election Day was also often considered an unofficial holiday. “Voters could expect to be treated with barbecue, cake and rum punch. George Washington provided 158 gallons of alcohol to voters during one Virginia election,” writes Holly Jackson associate professor at the University of Massachusetts, Boston for the Washington Post. “From 1840 to 1896, about 80 percent of eligible voters showed up for elections.”

To be sure, voting a century ago was a privilege enjoyed by only a fraction of the country, and the voting population was comprised mostly of white men. In the near century since, voting rights have expanded to most citizens 18 and older who meet their state’s residency requirements.

Meanwhile, American’s lives have also changed significantly. In the 1840s, farmers comprised roughly 69 percent of the labor force. Today, less than 2 percent of the U.S. labor force is employed in the agriculture industry.

These shifts mean the traditional voting practices don’t work for many Americans. For instance, weekday voting is disproportionately difficult for single parents and those who work multiple jobs, according to those who support making Election Day a national holiday.

The current system also creates obstacles for emergency workers and low-income people, other experts say.

Additionally, non-voters cite scheduling conflicts and inconvenient polling locations among the top reasons they stay away from the ballot box.

Currently, federal law does not require employers to allow their workers time off to vote. Voter protections for taking time off for work do exist, but they vary from state to state.

Several states including New York, Delaware, and Hawaii do offer state holidays for Election Day but the specifics of these holidays vary and largely apply to public workers.

Such complications add to the hassles that drive down voter turnout. Only around half of America’s voting-age population cast a ballot in the last presidential election, a number that hasn’t changed unchanged significantly for decades, according to Pew Research.

That said, it’s not known if a federal holiday (or even a shift to weekend voting) would impact turnout. While some believe making Election Day a national holiday could transform voting culture in the U.S., more research is needed to truly understand the impact, as Kristen Clarke, president and executive director of the Lawyers Committee for Civil Rights Under Law recently told USA Today.

Still, supporters say, any change that removes obstacles from low-income voters and others is a step in the right direction.

As Congresswoman Anna Eshoo tells CNBC Make It, “Congress should do everything it can to make it easier for Americans to vote, not harder. That’s what this bill does.”

Like this story? Subscribe to CNBC Make It on YouTube!

Don’t miss:


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: abigail hess, jonathan ernst
Keywords: news, cnbc, companies, voting, president, workers, voters, democrats, day, election, holidayheres, holiday, national, work, americans


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Japan’s 10-day holiday stirs concern in traders and investors

To mark the ascension of Japan’s new emperor, the government has declared an unprecedented 10-day holiday from late April to early May, worrying investors, who say a market shutdown could cause disruption and unsettle the yen. Japan usually has a string of public holidays from late April to early May, the so-called the “Golden Week.” U.S. financial markets closed for six days after the attacks on Sept. 11, 2001. “In 10 days, we can be in a completely different world,” said a currency trader at a


To mark the ascension of Japan’s new emperor, the government has declared an unprecedented 10-day holiday from late April to early May, worrying investors, who say a market shutdown could cause disruption and unsettle the yen. Japan usually has a string of public holidays from late April to early May, the so-called the “Golden Week.” U.S. financial markets closed for six days after the attacks on Sept. 11, 2001. “In 10 days, we can be in a completely different world,” said a currency trader at a
Japan’s 10-day holiday stirs concern in traders and investors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: jiji press, afp, getty images
Keywords: news, cnbc, companies, japanese, concern, late, stirs, investors, say, traders, 10day, markets, holidays, market, shutdown, days, holiday, financial, bank, japans


Japan's 10-day holiday stirs concern in traders and investors

To mark the ascension of Japan’s new emperor, the government has declared an unprecedented 10-day holiday from late April to early May, worrying investors, who say a market shutdown could cause disruption and unsettle the yen.

Japan usually has a string of public holidays from late April to early May, the so-called the “Golden Week.”

But this year, with Crown Prince Naruhito’s being crowned the new emperor on May 1, the government made the entire period from April 27 to May 6 a market holiday.

It will be the longest break ever for Japanese stocks and bonds.

Major financial centres rarely have such long periods of shutdown. U.S. financial markets closed for six days after the attacks on Sept. 11, 2001.

“It’s horrifying that we can’t trade for six business days. We’ve got to adjust our positions before the week. Hard to say exactly what I will do then, but I’ll probably have to make my position neutral before the holidays,” said Yasuo Sakuma, chief investment officer at Libra Investments.

Japan’s financial watchdog has told all financial institutions to alert customers about the possibility of turbulence in overseas markets during the shutdown, and to make sure their systems can cope with a flurry of activity before and after, documents obtained by Reuters showed.

The U.S. and U.K. central banks will hold policy meetings during the Japanese holiday; U.S. payroll data, GDP from the United States and the Eurozone, and corporate earnings around the world will also be released.

“In 10 days, we can be in a completely different world,” said a currency trader at a major Japanese bank.

Currency traders at the country’s biggest banks and insurers, such as MUFG Bank, Sumitomo Mitsui Bank, Mizuho Bank and Nippon Life Insurance, are equipped to work either at home or in the office during holidays, markets players say.

But they added it might be tougher to deal with more complex products, such as derivatives, pricing of which usually requires in-house terminals.

Fund managers, meanwhile, say they will probably need to bring their positions to neutral by late April to avoid exposure to market swings.


Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: jiji press, afp, getty images
Keywords: news, cnbc, companies, japanese, concern, late, stirs, investors, say, traders, 10day, markets, holidays, market, shutdown, days, holiday, financial, bank, japans


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