3 key restaurant trends to watch ahead of ICR’s annual conference

As the longest ever federal government shutdown grinds on and chatter about a potential recession grows louder, retail and restaurant CEOs and investors are gathering in Orlando, for the ICR conference. More than 160 private and public companies are set to make presentations over the three-day conference at the Grande Lakes Hotel. The conference is a “good gauge of how things are going to shake out” in 2019, said Peter Saleh, analyst at BTIG. Those economic questions come as the restaurant indus


As the longest ever federal government shutdown grinds on and chatter about a potential recession grows louder, retail and restaurant CEOs and investors are gathering in Orlando, for the ICR conference. More than 160 private and public companies are set to make presentations over the three-day conference at the Grande Lakes Hotel. The conference is a “good gauge of how things are going to shake out” in 2019, said Peter Saleh, analyst at BTIG. Those economic questions come as the restaurant indus
3 key restaurant trends to watch ahead of ICR’s annual conference Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-13  Authors: sarah whitten, getty images
Keywords: news, cnbc, companies, watch, restaurants, investors, ahead, icrs, annual, rising, industry, labor, conference, things, key, shake, trends, companies, federal, restaurant


3 key restaurant trends to watch ahead of ICR's annual conference

As the longest ever federal government shutdown grinds on and chatter about a potential recession grows louder, retail and restaurant CEOs and investors are gathering in Orlando, for the ICR conference.

Chipotle Mexican Grill, Shake Shack, Domino’s and Darden are town to dish about their digital strategies and convince shareholders that they have a plan for dealing with ever-changing consumer habits. More than 160 private and public companies are set to make presentations over the three-day conference at the Grande Lakes Hotel.

The conference is a “good gauge of how things are going to shake out” in 2019, said Peter Saleh, analyst at BTIG.

In the past, companies have announced new executive hiring, menu items, and in some cases, entirely new approaches to age-old problems like labor retention and rising minimum wages. No doubt, investors will be listening carefully to what these companies are saying about the strength of the consumer and where spending could be heading.

Eating out at restaurants is one area where consumers will cut back if they grow worried about the economy. Restaurants in Washington, D.C., have already felt the pinch as federal workers go without paychecks.

Those economic questions come as the restaurant industry is facing a number of other challenges including a rising rate of online orders and higher labor costs.

Here are three things that analysts are paying attention to in the restaurant industry this year:


Company: cnbc, Activity: cnbc, Date: 2019-01-13  Authors: sarah whitten, getty images
Keywords: news, cnbc, companies, watch, restaurants, investors, ahead, icrs, annual, rising, industry, labor, conference, things, key, shake, trends, companies, federal, restaurant


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Investing titan Jeff Vinik to re-open hedge fund: ‘The fire in my belly still burns’

“After six years of running my own money, the fire in my belly still burns,” said Vinik in a statement. Vinik, 59, announced plans on Thursday to resurrect Vinik Asset Management, the hedge fund he closed in 2013, returning about $6 billion to investors. His move comes even despite the large transformation that has taken place within the asset management industry in recent years. And greater competition and regulatory pressures have whittled away much of the alpha, or outperformance, that hedge


“After six years of running my own money, the fire in my belly still burns,” said Vinik in a statement. Vinik, 59, announced plans on Thursday to resurrect Vinik Asset Management, the hedge fund he closed in 2013, returning about $6 billion to investors. His move comes even despite the large transformation that has taken place within the asset management industry in recent years. And greater competition and regulatory pressures have whittled away much of the alpha, or outperformance, that hedge
Investing titan Jeff Vinik to re-open hedge fund: ‘The fire in my belly still burns’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: leslie picker, victor j blue, bloomberg, getty images
Keywords: news, cnbc, companies, fund, investing, investors, vinik, management, burns, running, closed, asset, funds, titan, reopen, jeff, belly, hedge, industry


Investing titan Jeff Vinik to re-open hedge fund: 'The fire in my belly still burns'

While other hedge-fund titans are running out of the proverbial burning building that is active management, Jeff Vinik is going back in.

“After six years of running my own money, the fire in my belly still burns,” said Vinik in a statement.

Vinik, 59, announced plans on Thursday to resurrect Vinik Asset Management, the hedge fund he closed in 2013, returning about $6 billion to investors.

His move comes even despite the large transformation that has taken place within the asset management industry in recent years. Investors have increasingly opted for index funds and exchange traded funds over active managers. Quantitative trading, or that dictated by computer algorithms, has become a higher percentage of daily volume. And greater competition and regulatory pressures have whittled away much of the alpha, or outperformance, that hedge funds enjoyed before.

For years, some giants of the industry have lamented about the markets working against them. Stock pickers such as Stanley Druckenmiller and Leon Cooperman as well as traders Eric Mindich and Andy Hall closed their funds to outside investors in the last decade. The average long/short equity manager lost nearly 7 percent last year, lagging the S&P 500, which slumped about 4.4 percent, including dividends, according to Hedge Fund Research Inc., which tracks performance.

Vinik is not deterred.


Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: leslie picker, victor j blue, bloomberg, getty images
Keywords: news, cnbc, companies, fund, investing, investors, vinik, management, burns, running, closed, asset, funds, titan, reopen, jeff, belly, hedge, industry


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Here are the top 10 defense contractors in the world

WASHINGTON — American defense firms are the indisputable leaders of the world’s $398 billion arms sales industry, according to a report by the Stockholm International Peace Research Institute, also known as SIPRI. In 2017, weapons sales from the top 100 companies totaled $398.2 billion, a 2.5 percent uptick from 2016 and a third year of growth for the industry. (The total excludes China, due to a lack of available data on which to make a reasonable or consistent estimate,” according to the repor


WASHINGTON — American defense firms are the indisputable leaders of the world’s $398 billion arms sales industry, according to a report by the Stockholm International Peace Research Institute, also known as SIPRI. In 2017, weapons sales from the top 100 companies totaled $398.2 billion, a 2.5 percent uptick from 2016 and a third year of growth for the industry. (The total excludes China, due to a lack of available data on which to make a reasonable or consistent estimate,” according to the repor
Here are the top 10 defense contractors in the world Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: amanda macias, us marine corps photo, sergei malgavko, tass via getty images, thales group, us air force photo, bae systems, andreas freude, bundswehr via getty images, department of defense photo
Keywords: news, cnbc, companies, defense, report, sales, industry, washington, contractors, totaled, billion, according, worlds, weapons, uptick, world


Here are the top 10 defense contractors in the world

WASHINGTON — American defense firms are the indisputable leaders of the world’s $398 billion arms sales industry, according to a report by the Stockholm International Peace Research Institute, also known as SIPRI.

In 2017, weapons sales from the top 100 companies totaled $398.2 billion, a 2.5 percent uptick from 2016 and a third year of growth for the industry. (The total excludes China, due to a lack of available data on which to make a reasonable or consistent estimate,” according to the report.)


Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: amanda macias, us marine corps photo, sergei malgavko, tass via getty images, thales group, us air force photo, bae systems, andreas freude, bundswehr via getty images, department of defense photo
Keywords: news, cnbc, companies, defense, report, sales, industry, washington, contractors, totaled, billion, according, worlds, weapons, uptick, world


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Another major Wall Street firm starts covering cannabis as industry gains legitimacy

Piper Jaffray initiated coverage on cannabis producers Tilray and Canopy Growth on Tuesday, joining a short — but growing — list of Wall Street brokerages watching the industry. “We do believe the long-term growth opportunities are significant — both from transitioning illicit trade to legal sales, medical sales, and from transitioning sales in health & wellness categories to CBD-infused products,” Lavery wrote. Azer issued her 2019 cannabis outlook on Tuesday and raised her projection for U.S.


Piper Jaffray initiated coverage on cannabis producers Tilray and Canopy Growth on Tuesday, joining a short — but growing — list of Wall Street brokerages watching the industry. “We do believe the long-term growth opportunities are significant — both from transitioning illicit trade to legal sales, medical sales, and from transitioning sales in health & wellness categories to CBD-infused products,” Lavery wrote. Azer issued her 2019 cannabis outlook on Tuesday and raised her projection for U.S.
Another major Wall Street firm starts covering cannabis as industry gains legitimacy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: thomas franck, tom franck
Keywords: news, cnbc, companies, billion, marijuana, sales, analyst, firm, legitimacy, cannabis, medical, products, wall, lavery, federal, starts, covering, street, industry, growth, major, gains


Another major Wall Street firm starts covering cannabis as industry gains legitimacy

Piper Jaffray initiated coverage on cannabis producers Tilray and Canopy Growth on Tuesday, joining a short — but growing — list of Wall Street brokerages watching the industry.

While admitting “we still have much to learn in the sector,” analyst Michael Lavery set overweight ratings for both Canadian marijuana companies and told clients to expect attractive growth ahead.

“We do believe the long-term growth opportunities are significant — both from transitioning illicit trade to legal sales, medical sales, and from transitioning sales in health & wellness categories to CBD-infused products,” Lavery wrote. “While timing of further changes is difficult to predict, the pace of further legalization appears to be accelerating.”

Shares of Canopy Growth rallied 3.5 percent in premarket trading following the initiation, while Tilray shares were largely unchanged.

By starting coverage, Piper Jaffray joins a small group of brokerages devoting research to the budding industry. Until now, most cannabis investors — many of which are individuals — had to rely on reports from Cowen analyst Vivien Azer, one of the first from a major firm to cover the sector. Azer issued her 2019 cannabis outlook on Tuesday and raised her projection for U.S. sales to $80 billion by 2030.

Lavery believes there is currently a $15 billion to $50 billion total addressable market between Canada’s medical and recreational market, medical usage in the European Union and CBD-infused products in key U.S. categories. The long-term global cannabis market is likely worth between $250 billion and $500 billion, with over 25 countries already allowing cannabis use in some form, Lavery told clients.

“We expect legal recreational marijuana to source from illicit trade and could attract new users to the category, while THC-infused drinks could source share from alcoholic beverages,” Lavery continued. “Medical cannabis can replace a variety of products (e.g. pain relief, sleep aid, opioid replacement). CBD-infused products (with non-psychoactive properties) could gain share from food, beverage, and personal care categories.”

But as governments around the world realize the potential therapeutic effects — or tax revenues — from legalizing marijuana, investors and analysts have deemed the area ripe for returns.

In the U.S., medical use has been approved in 33 states and recreational use has been legalized in 10; the analyst added that it’s possible that the federal government will legalize cannabis within the next two to five years.

The recent passage of the $867 billion farm bill, which was signed into law by President Donald Trump on Dec. 20, also represents regulatory progress, the analyst said. The law includes a provision for industrial hemp legalization that Senate Majority Leader Mitch McConnell, R-Ky., had introduced. The provision removed industrial hemp from the federal government’s list of controlled substances, making it a lawful agricultural commodity.

Sixty-six percent of surveyed American residents now support legalizing marijuana, according to the latest Gallup poll.

“If no federal action happens by 2020, federal legalization could likely be a topic of the upcoming presidential election” Lavery wrote. “Given the apparent popularity with voters, both parties could conceivably co-opt the issue. Once marijuana is federally legal in the US, we expect additional inflows of capital, potentially for acquisitions of existing players.”


Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: thomas franck, tom franck
Keywords: news, cnbc, companies, billion, marijuana, sales, analyst, firm, legitimacy, cannabis, medical, products, wall, lavery, federal, starts, covering, street, industry, growth, major, gains


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J.C. Penney to close 3 stores by spring as part of ongoing review, holiday sales drop

The stock, which has lost more than 67 percent over the past year, was recently trading below the $1 mark. It first breached $1 on Dec. 26, as investors worried holiday sales would be poor at the department store chain. Although the retail industry is on track to have its best holiday shopping season in six years, not all stores are benefiting from the freer spending. When retailer have a backlog of unsold merchandise they tend to slash prices to clear shelves. “Stores, for example, were densely


The stock, which has lost more than 67 percent over the past year, was recently trading below the $1 mark. It first breached $1 on Dec. 26, as investors worried holiday sales would be poor at the department store chain. Although the retail industry is on track to have its best holiday shopping season in six years, not all stores are benefiting from the freer spending. When retailer have a backlog of unsold merchandise they tend to slash prices to clear shelves. “Stores, for example, were densely
J.C. Penney to close 3 stores by spring as part of ongoing review, holiday sales drop Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: christine wang, robert barnes, getty images
Keywords: news, cnbc, companies, close, penney, unsold, shopping, review, drop, stores, merchandise, season, lost, managing, sales, industry, holiday, retail, ongoing, jc, spring


J.C. Penney to close 3 stores by spring as part of ongoing review, holiday sales drop

J.C. Penney shares closed Tuesday at $1.21. The stock, which has lost more than 67 percent over the past year, was recently trading below the $1 mark.

It first breached $1 on Dec. 26, as investors worried holiday sales would be poor at the department store chain. Although the retail industry is on track to have its best holiday shopping season in six years, not all stores are benefiting from the freer spending.

Penney has been struggling to turn its business around. It lost its CEO Marvin Ellison to Lowe’s in July. In October, the company tapped former Joann Stores chief, Jill Soltau, for the top job.

Penney’s has been hurt by a pile-up of unsold inventory, which has put pressure on its profits. When retailer have a backlog of unsold merchandise they tend to slash prices to clear shelves. Other retailers, including Macy’s and Kohl’s, made improvements in managing their merchandise last year and are expected to head into 2019 on good footing.

The company also has struggled to sell trend-right apparel, at a time when the apparel industry as a whole is going through somewhat of a renaissance with clothing sales climbing again.

“In our view, JCPenney went into the festive season in a weakened state and, therefore, was not able to capitalize on the favorable trends,” said Neil Saunders, managing director of GlobalData Retail, in an email. “Stores, for example, were densely packed full of merchandise and provided consumers with a less than inspiring shopping experience. The same is true online where a vast array of products with few standout items reduced conversion rates. Extensive discounting did little to remedy these weaknesses or stimulate revenue growth.”

— CNBC’s Christina Cheddar Berk and Lauren Thomas contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: christine wang, robert barnes, getty images
Keywords: news, cnbc, companies, close, penney, unsold, shopping, review, drop, stores, merchandise, season, lost, managing, sales, industry, holiday, retail, ongoing, jc, spring


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Why airports can’t stop drones from causing chaos

The CEO of Dedrone, Joerg Lamprecht, said all players in the air travel industry are still grappling with the question of authority. Brian Wynne, president and CEO of the Association for Unmanned Vehicle Systems International, wants to see the drone industry and aviation authorities around the world agree to “remote identification,” something like digital license plates, for drones. With remote identification, he believes, airports could easily identify a drone’s owner and contact them to land t


The CEO of Dedrone, Joerg Lamprecht, said all players in the air travel industry are still grappling with the question of authority. Brian Wynne, president and CEO of the Association for Unmanned Vehicle Systems International, wants to see the drone industry and aviation authorities around the world agree to “remote identification,” something like digital license plates, for drones. With remote identification, he believes, airports could easily identify a drone’s owner and contact them to land t
Why airports can’t stop drones from causing chaos Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: lora kolodny
Keywords: news, cnbc, companies, causing, heathrow, airports, drones, drone, stop, regulatory, land, chaos, remote, identification, gatwick, industry, cant, air


Why airports can't stop drones from causing chaos

Examples of counter-drone companies range from newer start-ups like Dedrone in San Francisco, to larger defense firms like the $2 billion Israeli company Rafael and Rome-based Leonardo.

The CEO of Dedrone, Joerg Lamprecht, said all players in the air travel industry are still grappling with the question of authority.

“Airports have a lot of red tape,” he said. “This is a new issue. Who is in charge, who controls the airspace, who is the one that should be providing drone detection? Who has the authority to manage this and to intervene – is it federal police, local police, someone who owns the airspace?”

Interdictions are allowed at military bases in the United States and some fixed sites that are owned by federal agencies. But authority hasn’t been determined at every commercial airport.

Brian Wynne, president and CEO of the Association for Unmanned Vehicle Systems International, wants to see the drone industry and aviation authorities around the world agree to “remote identification,” something like digital license plates, for drones. With remote identification, he believes, airports could easily identify a drone’s owner and contact them to land the drone if it’s flying where it shouldn’t.

No matter how the laws shape up and counter-drone technology evolves, Sherry said the disruptions at Heathrow and Gatwick should serve as a wake-up call.

“If you look at the industry as a whole, the way it works the airports, airlines, air traffic controllers, aircraft makers, and fuel companies all have to cooperate to provide air service. Everyone’s objectives are different. And it’s sort of a ‘tombstone’ industry, where it takes an accident to get funding to flow and people working on a problem. Until just now? There has been nothing dramatic enough to make them work on this. We should all be thankful that these incidents were not more severe, there were no injuries or fatalities.”

The drone sightings at Heathrow and Gatwick prompted quick regulatory changes. Law enforcement in the U.K. is now permitted to land, seize and search drones, and to fine operators who fail to comply with orders to land their small drones, or fine those who fly without properly registering their drones as well.

Wynne said he’s hoping for similar advances on the regulatory front in the U.S. soon.

WATCH: This drone attacks and captures rogue drones


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: lora kolodny
Keywords: news, cnbc, companies, causing, heathrow, airports, drones, drone, stop, regulatory, land, chaos, remote, identification, gatwick, industry, cant, air


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Apple and Tesla shares on the blockchain could be the next big thing in crypto

So-called security tokens are becoming a new buzzword in crypto. The term is part of a phenomenon in the industry known as “tokenization” — turning real-world assets into digital tokens. In the case of security tokens, tradable assets like equity and fixed income are transformed into digital assets that use blockchain technology, the virtual ledger of activity that underpins cryptocurrencies like bitcoin. Security tokens had been talked about for some time, but now one firm is looking to put the


So-called security tokens are becoming a new buzzword in crypto. The term is part of a phenomenon in the industry known as “tokenization” — turning real-world assets into digital tokens. In the case of security tokens, tradable assets like equity and fixed income are transformed into digital assets that use blockchain technology, the virtual ledger of activity that underpins cryptocurrencies like bitcoin. Security tokens had been talked about for some time, but now one firm is looking to put the
Apple and Tesla shares on the blockchain could be the next big thing in crypto Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: ryan browne, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, security, shares, thing, crypto, industry, blockchain, big, including, tokens, firm, assets, stocks, virtual, apple, traders, tesla


Apple and Tesla shares on the blockchain could be the next big thing in crypto

Cryptocurrencies had a wild 2018, tumbling well below some of the record highs seen toward the end of 2017.

Bitcoin, once worth almost $20,000, plunged last year, closing out 2018 at a price below $4,000. Other major virtual currencies, including XRP and ether, also fell steeply.

Analysts and executives in the industry are increasingly pointing to a fairly new development that could reinvigorate the space: putting securities like stocks and bonds on the blockchain.

So-called security tokens are becoming a new buzzword in crypto. The term is part of a phenomenon in the industry known as “tokenization” — turning real-world assets into digital tokens.

In the case of security tokens, tradable assets like equity and fixed income are transformed into digital assets that use blockchain technology, the virtual ledger of activity that underpins cryptocurrencies like bitcoin.

Security tokens had been talked about for some time, but now one firm is looking to put them to the test.

On Monday, DX.Exchange, an Estonia-based crypto firm, launched a trading platform that lets investors buy shares of popular Nasdaq-listed companies, including Apple, Tesla, Facebook and Netflix, indirectly through security tokens.

Each token is backed by one share of the company traders want to invest in and entitles them to the same cash dividends.

“The crypto community has been talking about security tokens for well over a year now without much progress, so we think the impact will be huge,” Amedeo Moscato, DX’s chief operating officer, told CNBC by email over the weekend.

“By tokenizing stocks of some of the biggest publicly-traded companies like Google, Amazon, Facebook and more, we are opening an untapped market of millions of old and new traders around the globe cutting out the middleman.”


Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: ryan browne, scott eells, bloomberg, getty images
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As Trump touts ‘thriving’ steel industry and manufacturing, insiders disagree

Trump singled out the steel industry as a “miracle,” saying the sector was now “thriving” despite being “practically out of business when I came in to office as president.” However, recent industry data does not appear to back that claim. “Profitability has increased, but this hasn’t meant that tens of thousands of American steel workers suddenly have a job. Manufacturing is also expanding, adding 32,000 jobs in December, the bulk of which — 19,000 jobs — was in durable goods production. “With 3


Trump singled out the steel industry as a “miracle,” saying the sector was now “thriving” despite being “practically out of business when I came in to office as president.” However, recent industry data does not appear to back that claim. “Profitability has increased, but this hasn’t meant that tens of thousands of American steel workers suddenly have a job. Manufacturing is also expanding, adding 32,000 jobs in December, the bulk of which — 19,000 jobs — was in durable goods production. “With 3
As Trump touts ‘thriving’ steel industry and manufacturing, insiders disagree Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-05  Authors: martha c white, alex edelman, afp, getty images
Keywords: news, cnbc, companies, jobs, trade, data, touts, american, workers, steel, industry, disagree, thriving, manufacturing, insiders, institute, trump


As Trump touts 'thriving' steel industry and manufacturing, insiders disagree

President Donald Trump touted the success of his trade and economic policies in remarks to reporters in the White House Rose Garden on Friday while praising the monthly jobs report numbers.

Trump singled out the steel industry as a “miracle,” saying the sector was now “thriving” despite being “practically out of business when I came in to office as president.”

However, recent industry data does not appear to back that claim. Shares in U.S. Steel have fallen by more than 60 percent since their high last year, and industry experts describe “a secular downtrend” that could eventually reach “a low in the single digits.”

“I don’t think it’s valid to say that it’s come roaring back. It hasn’t. It’s stopped falling,” said Jacob Kirkegaard, senior fellow at the Peterson Institute for International Economics. “Profitability has increased, but this hasn’t meant that tens of thousands of American steel workers suddenly have a job. Over the course of the Trump presidency, you’re looking at an increase of about 4,000 jobs. For an industry that has somewhere between 80,000 and 140,000 employees… it is positive, but at the great expense of other sectors.”

The monthly jobs report, prepared by the Bureau of Labor Statistics, did show gains in the healthcare sector, which added 50,000 jobs last month and 346,000 for the year. Manufacturing is also expanding, adding 32,000 jobs in December, the bulk of which — 19,000 jobs — was in durable goods production.

This growth, which included the addition of 7,000 jobs in the manufacturing of fabricated metal products and 4,000 jobs in computer and electronic product production, was cheered by Alliance for American Manufacturing president Scott Paul, who credited the Trump administration’s protectionist policies in a statement. “With 32,000 new jobs last month, tough action against trade cheats is helping create new jobs for American workers,” he said.

But bellwether American businesses from Apple to General Motors have blamed the Trump administration’s policies on trade for falling sales and lost jobs, and the Institute for Supply Management’s most recent manufacturing index, while still expansionary at 54.1 (figures of 50 and higher indicate expansion), fell by 5.2 points, the largest month-to-month drop since the financial crisis.

Economists warned that the manufacturing sector’s gains could be vulnerable if if the current trade negotiations with China fall apart, and tariffs on steel and aluminum are raised or trade sanctions are expanded to include a much broader array of Chinese goods — including many consumer goods.

“It may be disguised right now because we have such high employment levels,” said Nicholas Lardy, a senior fellow at Peterson Institute for International Economics, adding that workers and job-seekers could start feeling the effects of a trade war within a few quarters if input costs were to spike, or higher prices on retail goods prompted a slowdown in consumer spending.

This is critical because the currently robust level of consumer spending is key to the expansion of two other labor market sectors that expanded in December: retail and leisure and hospitality. ADP’s payroll report found that leisure and hospitality businesses added 39,000 jobs; the BLS documented an increase of 41,000 new jobs at food service establishments like restaurants and bars. And despite retailers’ well-documented challenges shifting from brick-and-mortar to omnichannel shopping, the holiday shopping season was a boon. Stores — particularly general merchandise stores and car dealerships — added a total of 24,000 jobs last month, BLS data found.

“The problem with some of these is they can become self-fulfilling. If they extend for a long period of time, they can start to hurt soft sentiment survey data and eventually that spills into hard data,” said Darrell Cronk, president of the Wells Fargo Investment Institute.


Company: cnbc, Activity: cnbc, Date: 2019-01-05  Authors: martha c white, alex edelman, afp, getty images
Keywords: news, cnbc, companies, jobs, trade, data, touts, american, workers, steel, industry, disagree, thriving, manufacturing, insiders, institute, trump


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Manufacturing industry posts biggest annual job gain in 20 years

The manufacturing industry posted net job gains of 284,000 over 2018, capping its best calendar year since 1997. A priority for President Donald Trump, manufacturing saw marked hiring in December with an additional 32,000 jobs. Most of the gains occurred in blue-collar durable goods manufacturing, with growth in fabricated metals and computer and electronic products, the Labor Department said in its release. The definition of durable goods is items with a life expectancy of three years or more,


The manufacturing industry posted net job gains of 284,000 over 2018, capping its best calendar year since 1997. A priority for President Donald Trump, manufacturing saw marked hiring in December with an additional 32,000 jobs. Most of the gains occurred in blue-collar durable goods manufacturing, with growth in fabricated metals and computer and electronic products, the Labor Department said in its release. The definition of durable goods is items with a life expectancy of three years or more,
Manufacturing industry posts biggest annual job gain in 20 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: thomas franck
Keywords: news, cnbc, companies, biggest, manufacturers, million, gains, durable, workforce, job, manufacturing, posts, 20, jobs, continues, gain, goods, industry, annual


Manufacturing industry posts biggest annual job gain in 20 years

The manufacturing industry posted net job gains of 284,000 over 2018, capping its best calendar year since 1997.

A priority for President Donald Trump, manufacturing saw marked hiring in December with an additional 32,000 jobs. Most of the gains occurred in blue-collar durable goods manufacturing, with growth in fabricated metals and computer and electronic products, the Labor Department said in its release. The definition of durable goods is items with a life expectancy of three years or more, such as automobiles, furniture and machinery.

Manufacturing added 207,000 jobs in 2017.

“Manufacturers are bringing people back into the workforce, and we need this trend to continue,” said Dr. Chad Moutray, chief economist at the National Association of Manufacturers. “Our industry currently faces a workforce crisis with more than half a million open jobs today, and 2.4 million jobs expected to go unfilled over the next decade. Closing the skills gap continues to be the top challenge facing manufacturers in the United States and is absolutely essential to ensuring that the sector continues to grow.”


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: thomas franck
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This year’s fintech predictions, from the company powering most of the industry

This could be a banner year for fintech, according to one of the industry’s most dialed-in CEOs. Zach Perret runs Plaid, which links more than 20 million customer bank accounts to financial technology apps like Robinhood, Venmo and Coinbase. The start-up recently raised $250 million at a $2.7 billion valuation and added Kleiner Perkins partner Mary Meeker to its board. The start-up, founded by Perret and the company’s chief technology officer, William Hockey, plays an important role in the finte


This could be a banner year for fintech, according to one of the industry’s most dialed-in CEOs. Zach Perret runs Plaid, which links more than 20 million customer bank accounts to financial technology apps like Robinhood, Venmo and Coinbase. The start-up recently raised $250 million at a $2.7 billion valuation and added Kleiner Perkins partner Mary Meeker to its board. The start-up, founded by Perret and the company’s chief technology officer, William Hockey, plays an important role in the finte
This year’s fintech predictions, from the company powering most of the industry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: kate rooney, thananit, getty images
Keywords: news, cnbc, companies, technology, fintech, startup, company, industry, perret, plaid, bank, accounts, powering, role, million, predictions, william


This year's fintech predictions, from the company powering most of the industry

This could be a banner year for fintech, according to one of the industry’s most dialed-in CEOs.

Zach Perret runs Plaid, which links more than 20 million customer bank accounts to financial technology apps like Robinhood, Venmo and Coinbase. The start-up recently raised $250 million at a $2.7 billion valuation and added Kleiner Perkins partner Mary Meeker to its board.

The San Francisco-based firm is also backed by Andreessen Horowitz, Index Ventures, NEA, and the venture arms of Citi, American Express, Google and Goldman Sachs, among others.

The start-up, founded by Perret and the company’s chief technology officer, William Hockey, plays an important role in the fintech ecosystem. As of December, 25 percent of people in the United States with bank accounts have connected to Plaid through an app — a 13 percent increase from last year, the company said.

If nothing else, Perret has a unique bird’s-eye view based on Plaid’s back-end role for the most well-known start-ups in Silicon Valley. He has 11 things to watch in the burgeoning industry in 2019:


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: kate rooney, thananit, getty images
Keywords: news, cnbc, companies, technology, fintech, startup, company, industry, perret, plaid, bank, accounts, powering, role, million, predictions, william


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