Stocks making the biggest moves midday: Micron, Barrick Gold, Canopy Growth and more

China says there will be no trade deal unless tariffs are… The U.S. has to lift all the tariffs placed on Chinese goods if there is to be a trade deal, China’s Ministry of Commerce said on Thursday. Marketsread more


China says there will be no trade deal unless tariffs are… The U.S. has to lift all the tariffs placed on Chinese goods if there is to be a trade deal, China’s Ministry of Commerce said on Thursday. Marketsread more
Stocks making the biggest moves midday: Micron, Barrick Gold, Canopy Growth and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-05  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, micron, growth, commerce, barrick, unless, making, gold, biggest, thursdaymarketsread, moves, midday, placed, goods, trade, canopy, lift, stocks, tariffs, deal, ministry


Stocks making the biggest moves midday: Micron, Barrick Gold, Canopy Growth and more

China says there will be no trade deal unless tariffs are…

The U.S. has to lift all the tariffs placed on Chinese goods if there is to be a trade deal, China’s Ministry of Commerce said on Thursday.

Markets

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Company: cnbc, Activity: cnbc, Date: 2019-07-05  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, micron, growth, commerce, barrick, unless, making, gold, biggest, thursdaymarketsread, moves, midday, placed, goods, trade, canopy, lift, stocks, tariffs, deal, ministry


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Electronic Arts shares tumble after Apex Legends season 2 launch

China says there will be no trade deal unless tariffs are… The U.S. has to lift all the tariffs placed on Chinese goods if there is to be a trade deal, China’s Ministry of Commerce said on Thursday. Marketsread more


China says there will be no trade deal unless tariffs are… The U.S. has to lift all the tariffs placed on Chinese goods if there is to be a trade deal, China’s Ministry of Commerce said on Thursday. Marketsread more
Electronic Arts shares tumble after Apex Legends season 2 launch Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-05  Authors: jesse pound, annie pei
Keywords: news, cnbc, companies, commerce, launch, tumble, season, apex, unless, placed, goods, thursdaymarketsread, lift, trade, legends, arts, electronic, shares, tariffs, deal, ministry


Electronic Arts shares tumble after Apex Legends season 2 launch

China says there will be no trade deal unless tariffs are…

The U.S. has to lift all the tariffs placed on Chinese goods if there is to be a trade deal, China’s Ministry of Commerce said on Thursday.

Markets

read more


Company: cnbc, Activity: cnbc, Date: 2019-07-05  Authors: jesse pound, annie pei
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Flying taxis could lift off in six years — here’s how much it’ll cost to ride one

Lilium says its five-seater jets can travel up to 300 kilometers in one hour. Flying cars have for years been limited to the world of fiction. To get a better idea of just how much that would cost, the executive used the example of taking New Yorkers from Manhattan to JFK Airport within six minutes for about $70. For reference, Uber plans to take passengers in its helicopter ride-sharing service from Manhattan to JFK for a roughly $200 flight that takes around eight minutes. Lilium says its airc


Lilium says its five-seater jets can travel up to 300 kilometers in one hour. Flying cars have for years been limited to the world of fiction. To get a better idea of just how much that would cost, the executive used the example of taking New Yorkers from Manhattan to JFK Airport within six minutes for about $70. For reference, Uber plans to take passengers in its helicopter ride-sharing service from Manhattan to JFK for a roughly $200 flight that takes around eight minutes. Lilium says its airc
Flying taxis could lift off in six years — here’s how much it’ll cost to ride one Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: ryan browne
Keywords: news, cnbc, companies, takes, manhattan, ride, lilium, hoping, gerber, lift, jfk, kilometers, fiveseater, itll, flying, service, cost, heres, taxis, travel


Flying taxis could lift off in six years — here's how much it'll cost to ride one

Lilium says its five-seater jets can travel up to 300 kilometers in one hour.

Flying cars have for years been limited to the world of fiction. Now there are plenty of companies hoping to make the sci-fi dream a reality.

One such firm is Lilium, a Munich-based start-up with big ambitions for the future of transportation: a five-seater electric air taxi, due to launch commercial flights in 2025.

The main goal Lilium is hoping to achieve, according to Chief Commercial Officer Remo Gerber, is making such a service an affordable one that people can use just like they would a ride-hailing app like Uber.

Around the time Lilium was established, its founders realized they didn’t want to make a “luxury product” or “something we sell to rich individuals,” but a “service that’s affordable,” Gerber told CNBC in an interview.

To get a better idea of just how much that would cost, the executive used the example of taking New Yorkers from Manhattan to JFK Airport within six minutes for about $70.

For reference, Uber plans to take passengers in its helicopter ride-sharing service from Manhattan to JFK for a roughly $200 flight that takes around eight minutes.

Lilium says its aircraft, which takes off and lands vertically, can travel 300 kilometers in an hour after a single charge. In the U.K. that means it would be able to take someone from London to Manchester — in other words, from the South to the North of England – in one journey.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: ryan browne
Keywords: news, cnbc, companies, takes, manhattan, ride, lilium, hoping, gerber, lift, jfk, kilometers, fiveseater, itll, flying, service, cost, heres, taxis, travel


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US reaches deal to lift steel and aluminum tariffs on Canada and Mexico

The United States has reached a deal to lift steel and aluminum tariffs on Canada and Mexico, removing one key obstacle to passing updates to the North American Free Trade Agreement. Canada will remove tariffs levied on American goods in retaliation for the steel and aluminum duties. Mexico also said it would set up measures to stop unfair trade practices in the aluminum and steel markets and to monitor trade of the metals in North America. The Canadian and Mexican governments, along with top U.


The United States has reached a deal to lift steel and aluminum tariffs on Canada and Mexico, removing one key obstacle to passing updates to the North American Free Trade Agreement. Canada will remove tariffs levied on American goods in retaliation for the steel and aluminum duties. Mexico also said it would set up measures to stop unfair trade practices in the aluminum and steel markets and to monitor trade of the metals in North America. The Canadian and Mexican governments, along with top U.
US reaches deal to lift steel and aluminum tariffs on Canada and Mexico Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: kayla tausche jacob pramuk, kayla tausche, jacob pramuk
Keywords: news, cnbc, companies, aluminum, canada, lift, remove, states, reaches, trade, metals, steel, deal, tariffs, united, mexico


US reaches deal to lift steel and aluminum tariffs on Canada and Mexico

The United States has reached a deal to lift steel and aluminum tariffs on Canada and Mexico, removing one key obstacle to passing updates to the North American Free Trade Agreement.

In a joint statement Friday, the Canadian and American governments said the U.S. will scrap the metals duties within two days. Canada will remove tariffs levied on American goods in retaliation for the steel and aluminum duties. The countries will also:

Drop all pending litigation in the World Trade Organization related to the tariffs

Set up measures to “prevent the importation of aluminum or steel that is unfairly subsidized and/or sold at dumped prices” and “prevent the transshipment of aluminum and steel made outside of Canada or the United States to the other country”

Make an “agreed-upon process for monitoring aluminum and steel trade between them”

In a separate statement, the Mexican government also said it would remove retaliatory tariffs it put on the U.S. and cease pending litigation. Mexico also said it would set up measures to stop unfair trade practices in the aluminum and steel markets and to monitor trade of the metals in North America.

Trump referenced the tariff removal during remarks Friday to the National Association of Realtors, saying, “I’m pleased to announce we’ve just reached an agreement with Canada and Mexico to sell product without the imposition of major tariffs.”

The Canadian and Mexican governments, along with top U.S. lawmakers, have pushed the Trump administration to remove the tariffs before the countries approve the United States Mexico Canada Agreement. President Donald Trump and Canadian Prime Minister Justin Trudeau spoke earlier Friday about the duties on metals and the tariffs Canada slapped on U.S. goods in retaliation, according to a spokesman for Trudeau.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: kayla tausche jacob pramuk, kayla tausche, jacob pramuk
Keywords: news, cnbc, companies, aluminum, canada, lift, remove, states, reaches, trade, metals, steel, deal, tariffs, united, mexico


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German data fails to lift euro from 1-week low

“The announcement of the increased trade tariffs has generated negative sentiment about global growth and that is exerting downward pressure on the euro despite the German data,” said Nikolay Markov, senior economist at Pictet Asset Management. “We expected the data to be worse than last month, but this is going to increase concerns about the state of the Chinese economy. The market will be very nervous and looking out for the PMI data,” said Commerzbank FX strategist Esther Maria Reichelt. The


“The announcement of the increased trade tariffs has generated negative sentiment about global growth and that is exerting downward pressure on the euro despite the German data,” said Nikolay Markov, senior economist at Pictet Asset Management. “We expected the data to be worse than last month, but this is going to increase concerns about the state of the Chinese economy. The market will be very nervous and looking out for the PMI data,” said Commerzbank FX strategist Esther Maria Reichelt. The
German data fails to lift euro from 1-week low Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15
Keywords: news, cnbc, companies, beijing, german, 1week, aussie, trade, week, growth, low, fails, lift, currency, economy, data, chinese, euro


German data fails to lift euro from 1-week low

The euro held at a one-week low on Wednesday, ignoring data from Germany that showed the economy returned to growth in the first quarter, as trade tensions between the world’s two biggest economies cast a shadow over risk appetite.

The single currency has been caught in the cross-currents of an escalating dispute between Washington and Beijing since last week, unable to conclusively rise above the $1.1250 level.

“The announcement of the increased trade tariffs has generated negative sentiment about global growth and that is exerting downward pressure on the euro despite the German data,” said Nikolay Markov, senior economist at Pictet Asset Management.

U.S. President Donald Trump threatened higher tariffs on billions of dollars of Chinese imports last week, and Beijing responded with planned tariff hikes of its own on Monday.

The escalation in the trade dispute comes at a time when latest data from Germany showed the economy returned to growth in the March quarter as householders spent more freely and construction activity picked up.

The single currency was broadly steady at $1.1213 – just above a one-week low of $1.1197 hit in the Asian session and more than 3% below a 2019 high of nearly $1.16 in early January.

Germany’s economic figures were a sole bright indicator in an otherwise slate of dismal data.

China on Wednesday reported surprisingly weaker growth in retail sales and industrial output for April, adding pressure on Beijing to roll out more stimulus as the trade war with the United States rumbles on.

“We expected the data to be worse than last month, but this is going to increase concerns about the state of the Chinese economy. The market will be very nervous and looking out for the PMI data,” said Commerzbank FX strategist Esther Maria Reichelt.

The Aussie dollar dropped as low as $0.6922, its lowest level since Jan. 3 when a flash crash in the foreign exchange markets rocked major currencies.

Barring that level, the currency was at its weakest in three years and down 0.2% on the day.

The weak data gave further impetus to Aussie bears to add to their negative bets with net outstanding short positions still below 2019 highs of above $5.2 billion.

The Aussie is often seen as a proxy for Chinese growth because of Australia’s export-reliant economy and China being the country’s main destination for its commodities.

Domestic data added to the woes, with the pace of growth in Australian wages stagnating.

Neighbouring New Zealand saw its currency dip 0.1% to $0.6567.

The Chinese yuan itself was slightly improved on the day at 6.8993 per U.S. dollar, but still close to a five-month low hit on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2019-05-15
Keywords: news, cnbc, companies, beijing, german, 1week, aussie, trade, week, growth, low, fails, lift, currency, economy, data, chinese, euro


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Consumer inflation could get lift from rising gasoline prices

Consumer inflation probably got a boost from rising gasoline prices in March, but it should not break out above the subdued pace that encouraged the Federal Reserve to keep interest rates on hold when it met last month. Headline CPI will be reported at 8:30 a.m. and is expected to rise 0.3% or 1.8% year over year. He expects headline CPI to rise by 0.4% and core to be 0.2% higher. “People have really gotten excited about the fact that the headline inflation year over year has come off a lot,” sa


Consumer inflation probably got a boost from rising gasoline prices in March, but it should not break out above the subdued pace that encouraged the Federal Reserve to keep interest rates on hold when it met last month. Headline CPI will be reported at 8:30 a.m. and is expected to rise 0.3% or 1.8% year over year. He expects headline CPI to rise by 0.4% and core to be 0.2% higher. “People have really gotten excited about the fact that the headline inflation year over year has come off a lot,” sa
Consumer inflation could get lift from rising gasoline prices Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: patti domm, bauer-griffin, gc images, getty images
Keywords: news, cnbc, companies, average, rising, consumer, harris, lift, rise, minutes, prices, fed, meeting, gasoline, inflation, headline, cpi


Consumer inflation could get lift from rising gasoline prices

Consumer inflation probably got a boost from rising gasoline prices in March, but it should not break out above the subdued pace that encouraged the Federal Reserve to keep interest rates on hold when it met last month.

Both the consumer price index and minutes from that March meeting are scheduled to be released Wednesday. Headline CPI will be reported at 8:30 a.m. and is expected to rise 0.3% or 1.8% year over year. The national average for gasoline is now $2.74 per gallon of unleaded, up from $2.47 a month ago, according to AAA.

The minutes from the Fed’s meeting will be released at 2 p.m., and investors expect a very dovish sounding central bank.

“We’ve had some weak inflation numbers that actually lead to the Fed backing off from hiking rates,” said Ethan Harris, head of global economic research at Bank of America Merrill Lynch. He expects headline CPI to rise by 0.4% and core to be 0.2% higher.

“There’s been some creep in energy prices, and we had pretty weak prices for a while and now there’s a little mini rebound going on,” he said. Harris said one factor affecting CPI in March could be vehicle sales, which were better and also returned to more normal pricing after early winter discounts.

“People have really gotten excited about the fact that the headline inflation year over year has come off a lot,” said Stephen Stanley, chief economist at Amherst Pierpont. “It almost got to 3% last summer and it fell all the way to 1.5 in February, and it should be 1.8, 1.9. It should be 2% in the next month or two.”

Stanley said he expects to see CPI at 0.4% or even 0.5% from the rise in gasoline at the pump, but he said the number is at downside risk because the government is using a new data series to calculate apparel prices in CPI.

As for the Fed minutes, economists expect the central bank to sound very dovish, after it eliminated two interest rate hikes in its forecast for this year.

“I think it’s going to reflect how cautious the Fed was at that meeting, and they really reinforced the idea we’re going to be patient and on hold for a long time,’ said Harris.

He said one thing he is watching for is an explanation from the Fed on inflation and how it expects inflation to average 2 percent, not just hit the target.

“They could put some language in it there that confirms this is an average and not a ceiling and give some idea of what’s an acceptable range around that average,” Harris said. “I think they want to give the message that they understand that inflation varies over the cycle.”

Economists are also watching for detail on what the Fed plans for its balance sheet and what the makeup of securities might be as it ends the program to shrink the balance sheet.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: patti domm, bauer-griffin, gc images, getty images
Keywords: news, cnbc, companies, average, rising, consumer, harris, lift, rise, minutes, prices, fed, meeting, gasoline, inflation, headline, cpi


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Gun issue could give Wash Gov. Inslee lift for 2020 presidential run

Certainly, Inslee isn’t the only declared or potential 2020 Democratic presidential contender to advocate stricter gun control laws. “I have listened to the first-grade teachers that don’t want to be pistol-packing first-grade teachers,” Inslee told the president. “He was in my office that day when he said he would take that vote [on the assault weapons ban],” recalled Dotzauer. Still, the support for stricter gun laws remains higher than it was during the time Obama was in office. The new age l


Certainly, Inslee isn’t the only declared or potential 2020 Democratic presidential contender to advocate stricter gun control laws. “I have listened to the first-grade teachers that don’t want to be pistol-packing first-grade teachers,” Inslee told the president. “He was in my office that day when he said he would take that vote [on the assault weapons ban],” recalled Dotzauer. Still, the support for stricter gun laws remains higher than it was during the time Obama was in office. The new age l
Gun issue could give Wash Gov. Inslee lift for 2020 presidential run Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: jeff daniels, chip somodevilla, getty images
Keywords: news, cnbc, companies, run, lift, laws, trump, governor, wash, gun, teachers, assault, inslee, washington, issue, gov, weapons, state, 2020, presidential


Gun issue could give Wash Gov. Inslee lift for 2020 presidential run

LOS ANGELES — Washington Gov. Jay Inslee’s gun control record could help him broaden his base of support beyond climate advocates if the Democrat decides to enter the 2020 presidential contest.

Certainly, Inslee isn’t the only declared or potential 2020 Democratic presidential contender to advocate stricter gun control laws. But his personal experience on the gun issue is somewhat unique — and he almost lost his political career over it.

Nearly a year ago, Inslee stood up to President Donald Trump at the White House on a hot-button issue: arming teachers with firearms.

“I did confront him on that, and by the way, he needs to be confronted more personally to his face,” Inslee told CNBC in an interview this week. “That doesn’t happen enough, frankly.”

In an event carried on live TV, Inslee stood up and confronted Trump on the president’s solution to school shootings — adding more guns to schools to make them safer. The clash took place at a White House meeting with governors to discuss school safety following the Feb. 14, 2018, mass shooting at Marjory Stoneman Douglas High School in Parkland, Florida.

“I have listened to the first-grade teachers that don’t want to be pistol-packing first-grade teachers,” Inslee told the president. “I have listened to law enforcement who have said they don’t want to have to train teachers as law enforcement agencies which takes about six months.”

As Trump stood, Inslee told the president that teachers should be allowed to educate and “not be foisted upon this responsibility of packing heat in first-grade classes.” The governor concluded by suggesting “we need a little less tweeting here, a little more listening, and let’s just take that off the table and move forward.”

Inslee’s clash with Trump wasn’t just carried on television but also made national headlines, boosting the governor’s profile outside the Evergreen State. Inslee said this week that Trump’s idea of arming teachers is a “nutty idea” and the governor added that he expects to make a decision on whether to throw his hat in the ring for the 2020 presidential contest “in weeks, not months.”

The governor already has gained a reputation as a”carbon warrior.” He wrote a book about the climate issue back in 2007 when in Congress.

Inslee served more than a decade in Congress, and from two different districts. He also is a former criminal prosecutor and was a state legislator in Olympia before getting elected Washington’s 23rd governor in 2012 and re-elected in 2016.

“Inslee actually lost his congressional seat because of a vote that he took on the 1994 assault weapons ban,” said Ron Dotzauer, a Seattle-based former Democratic consultant who now runs the public relations firm Strategies 360. “He then represented the central part of Washington state, and there’s a lot of gun racks in the pick-up [trucks there].”

In the end, Inslee was targeted by the National Rifle Association for voting in favor of the 1994 federal legislation that barred the manufacture, sale and possession of combat-style assault weapons. A Republican took his seat in 1995 in Washington’s 4th Congressional District, a rural and conservative area of the state.

The 10-year assault weapons ban was signed into law in 1994 by then-President Bill Clinton but has since expired; attempts to bring it back have failed.

“He was in my office that day when he said he would take that vote [on the assault weapons ban],” recalled Dotzauer. “I said, ‘whoah OK’ — you got a problem.”

At the time, one Washington state paper described voting for the assault weapons ban as “political suicide” for politicians from rural areas. Some even blame the gun issue for contributing to Democrats’ loss of the House in 1994.

Yet talk of gun control has heated up again with the 2020 presidential contest and several mass shootings in the past year. Also, support for stricter gun laws remains historically high.

A Gallup Poll conducted in October 2018 found 61 percent of Americans support stricter laws on the sale of firearms, although that was off a recent high of 67 percent in March in the immediate aftermath of the Parkland school shooting. Still, the support for stricter gun laws remains higher than it was during the time Obama was in office.

“From my discussions with legislators since November and with folks who are interested in running, they see the transformational shift that I think started really in earnest with the reaction that our nation had to the Parkland shooting,” said Kris Brown, president of the Brady Campaign to Prevent Gun Violence.

As for Inslee, he staged a comeback after losing his seat in the rural district. He returned to Congress four years later in the 1st Congressional District, a liberal-leaning district north of Seattle. He held the seat for more than a decade before running for governor in 2012.

Outside California, Washington has some of the toughest gun laws enacted among the states. Inslee campaigned successfully for Initiative 1491, a 2016 measure that made it more difficult for “high risk” individuals to obtain firearms. The measure allowed family, police and household members to obtain a court order to temporarily prevent someone from getting access to guns if were deemed a danger to themselves or others.

Last year, Washington voters approved Initiative 1639, a measure Inslee supported that raised the age to purchase semiautomatic rifles to 21, from 18. The initiative also expanded background checks for rifles and added other new regulations, including firearm education and new standards for secured gun storage.

“Many in D.C. remain in the grips of the NRA,” Inslee said Jan.15 during a state of the state address. “We are the state that stands up for common-sense gun safety reforms.”

The new age limits for purchasing assault weapons went into effect in January although other major regulations under I-1639 do not begin until July. Some county sheriffs in the state have said they won’t prosecute violators, and the measure is being challenged in the courts.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: jeff daniels, chip somodevilla, getty images
Keywords: news, cnbc, companies, run, lift, laws, trump, governor, wash, gun, teachers, assault, inslee, washington, issue, gov, weapons, state, 2020, presidential


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Pernod Ricard vows to lift margins after activist Elliott’s arrival

French spirits group Pernod Ricard, which is being targeted by activist investor Elliott, vowed to improve profit margins and shareholders’ returns in a new three-year strategy plan. The world’s second-biggest spirits group behind Diageo also raised its profit growth outlook for 2018/19 after beating first-half operating profit forecasts helped by strong demand for premium cognac in China. My priority is to create durable value and I hope this will please all our shareholders,” Alexandre Ricard


French spirits group Pernod Ricard, which is being targeted by activist investor Elliott, vowed to improve profit margins and shareholders’ returns in a new three-year strategy plan. The world’s second-biggest spirits group behind Diageo also raised its profit growth outlook for 2018/19 after beating first-half operating profit forecasts helped by strong demand for premium cognac in China. My priority is to create durable value and I hope this will please all our shareholders,” Alexandre Ricard
Pernod Ricard vows to lift margins after activist Elliott’s arrival Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: bloomberg, getty images
Keywords: news, cnbc, companies, margins, shareholders, lift, elliotts, activist, pernod, arrival, spirits, diageo, worlds, ricard, vows, group, vowed, profit


Pernod Ricard vows to lift margins after activist Elliott's arrival

French spirits group Pernod Ricard, which is being targeted by activist investor Elliott, vowed to improve profit margins and shareholders’ returns in a new three-year strategy plan.

The world’s second-biggest spirits group behind Diageo also raised its profit growth outlook for 2018/19 after beating first-half operating profit forecasts helped by strong demand for premium cognac in China.

“We had the best first half since 2011. Our performance is accelerating. My priority is to create durable value and I hope this will please all our shareholders,” Alexandre Ricard told Reuters.

Ricard also said he had no plans, as suggested by some analysts, to sell the group’s champagne assets, which include Mumm and Perrier-Jouet champagnes.

Elliott, which has built a stake of just over 2.5 percent in Pernod, has called on the family-backed group to raise profit margins to bring them more into line with Diageo.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: bloomberg, getty images
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Rusal: US to lift sanctions from aluminium giant

The U.S. Treasury will lift sanctions on the core empire of Russian businessman Oleg Deripaska, including aluminium giant Rusal and its parent En+, watering down the toughest penalties imposed since Moscow’s 2014 annexation of Crimea. In April, the U.S. Treasury imposed sanctions on Deripaska, Rusal, En+ and other companies in which he owns stakes, citing “malign activities” by Russia, prompting turmoil in global aluminium markets. However, the three Deripaska companies – Rusal, En+ and power fi


The U.S. Treasury will lift sanctions on the core empire of Russian businessman Oleg Deripaska, including aluminium giant Rusal and its parent En+, watering down the toughest penalties imposed since Moscow’s 2014 annexation of Crimea. In April, the U.S. Treasury imposed sanctions on Deripaska, Rusal, En+ and other companies in which he owns stakes, citing “malign activities” by Russia, prompting turmoil in global aluminium markets. However, the three Deripaska companies – Rusal, En+ and power fi
Rusal: US to lift sanctions from aluminium giant Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-20  Authors: andrey rudakov, bloomberg, getty images
Keywords: news, cnbc, companies, deripaskas, aluminium, en, voting, giant, shares, rusal, statement, sanctions, lift, treasury, deripaska


Rusal: US to lift sanctions from aluminium giant

The U.S. Treasury will lift sanctions on the core empire of Russian businessman Oleg Deripaska, including aluminium giant Rusal and its parent En+, watering down the toughest penalties imposed since Moscow’s 2014 annexation of Crimea.

In April, the U.S. Treasury imposed sanctions on Deripaska, Rusal, En+ and other companies in which he owns stakes, citing “malign activities” by Russia, prompting turmoil in global aluminium markets.

After lobbying by European governments, Washington postponed enforcement of the sanctions and started talks with Deripaska’s team on removing Rusal and En+ from the blacklist if he ceded control of Rusal.

Deripaska will remain under sanctions, the Treasury said. However, the three Deripaska companies – Rusal, En+ and power firm EuroSibEnergo – have agreed to restructure to reduce Deripaska’s stakes.

Rusal shares soared as much as 26.8 percent on Thursday to their highest since April, the month when the sanctions were announced.

“These companies have committed to significantly diminish Deripaska’s ownership and sever his control,” the Treasury said in a statement on Wednesday, adding that the sanctions would be lifted in one month.

The Irish government, which lobbied heavily in Washington for the removal of sanctions to protect 600 jobs at an alumina plant, said the move was “a very welcome return” on those efforts.

The Aughinish Alumina plant will be free from the threat of sanctions following a 30-day Congressional review period, the Irish foreign ministry said in a statement. The facility churns out a third of Europe’s alumina, a material used to make aluminium.

Prices for aluminium CMAL3 fell to $1,911 a tonne after the Treasury statement, their lowest since August last year.

Rusal, the world’s second largest aluminium producer after China’s Hongqiao 1378.HK, was not immediately available for comment.

The London Metal Exchange said that it would lift its suspension on aluminium produced by Rusal if the U.S. sanctions were removed.

The deal, agreed with the Office of Foreign Assets Control (OFAC) in the United States, will prevent Deripaska obtaining cash or receiving future dividends from the companies.

His stake in En+ will fall from 70 percent to 44.95 percent. The deal also includes Swiss company Glencore, or its subsidiary, swapping shares in Rusal for a direct ownership interest in En+.

Glencore declined to comment.

VTB Bank, Russia’s second-largest lender, or another assignee approved by OFAC, will take ownership of a block of Deripaska’s shares in En+ pledged as collateral for outstanding obligations.

Deripaska will also donate a block of shares to a charitable foundation and assign any voting rights above 35 percent of En+ shares to a voting trust. Several shareholders with professional or family ties to him will also assign their voting rights to an independent third party.

As part of the agreement, half of En+’s restructured board of directors will be U.S. or UK nationals and Rusal’s current board chairman will step down. En+ will create a board of 12 directors, with eight directors independent of Deripaska, in 30 days.

After the restructuring En+ will no longer be subject to sanctions and will own a 56.88 percent stake in Rusal, retaining its right to nominate Rusal’s chief executive.

Deripaska will retain a direct shareholding interest in Rusal of just 0.01 percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-20  Authors: andrey rudakov, bloomberg, getty images
Keywords: news, cnbc, companies, deripaskas, aluminium, en, voting, giant, shares, rusal, statement, sanctions, lift, treasury, deripaska


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Electric vehicle sales to ‘see a big lift’ over the next 2 to 3 years, BlackRock says

Electric vehicle sales will likely jump over the next two to three years as prices fall and more options are made available, according to BlackRock’s global head of thematic and sector investing. We’re expecting to see a big lift in electric vehicle sales over the next two to three years.” That would mark a big jump from 2017 when the agency estimated there were 3.1 million electric vehicles in use. That’s because most traditional automakers are now investing to create their own electric vehicle


Electric vehicle sales will likely jump over the next two to three years as prices fall and more options are made available, according to BlackRock’s global head of thematic and sector investing. We’re expecting to see a big lift in electric vehicle sales over the next two to three years.” That would mark a big jump from 2017 when the agency estimated there were 3.1 million electric vehicles in use. That’s because most traditional automakers are now investing to create their own electric vehicle
Electric vehicle sales to ‘see a big lift’ over the next 2 to 3 years, BlackRock says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-22  Authors: saheli roy choudhury, jeremyiswild, istock, getty images
Keywords: news, cnbc, companies, electric, vehicles, traditional, cars, point, options, jump, sales, blackrock, million, vehicle, lift, big


Electric vehicle sales to 'see a big lift' over the next 2 to 3 years, BlackRock says

Electric vehicle sales will likely jump over the next two to three years as prices fall and more options are made available, according to BlackRock’s global head of thematic and sector investing.

Customers will have more opportunities to move away from traditional combustion engines to electric vehicles and their options will not be restricted to only certain auto suppliers, Evy Hambro told CNBC’s “Squawk Box” on Thursday.

“I think we’re at this tipping point of change,” Hambro said. “Over the next two years, we’re going to see this massive extension of breadth of models, we’re going to see price point of entry drop as well. We’re expecting to see a big lift in electric vehicle sales over the next two to three years.”

Earlier in the year, the International Energy Agency predicted that electric vehicle ownership will jump to about 125 million by 2030, spurred by policies that encourage the purchase of clean-running cars. That would mark a big jump from 2017 when the agency estimated there were 3.1 million electric vehicles in use.

That’s because most traditional automakers are now investing to create their own electric vehicles. For example, Volkswagen recently said it will spend about $50 billion on new plants, electric cars, autonomous driving and other mobility services in an attempt to be the most profitable maker of electric cars.


Company: cnbc, Activity: cnbc, Date: 2018-11-22  Authors: saheli roy choudhury, jeremyiswild, istock, getty images
Keywords: news, cnbc, companies, electric, vehicles, traditional, cars, point, options, jump, sales, blackrock, million, vehicle, lift, big


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