Huawei CFO seeks bail on health concerns

Her family assured the court she would remain in Vancouver if she was granted bail, according to the court documents. Earlier on Sunday, China’s foreign ministry summoned the U.S. ambassador to lodge a “strong protest” over the arrest, and said the United States should withdraw its arrest warrant. China urged the United States to withdraw the arrest warrant, Le added. The U.S. case against Meng involves Skycom Tech, which Huawei has described as one of its “major local partners” in Iran. Reuters


Her family assured the court she would remain in Vancouver if she was granted bail, according to the court documents. Earlier on Sunday, China’s foreign ministry summoned the U.S. ambassador to lodge a “strong protest” over the arrest, and said the United States should withdraw its arrest warrant. China urged the United States to withdraw the arrest warrant, Le added. The U.S. case against Meng involves Skycom Tech, which Huawei has described as one of its “major local partners” in Iran. Reuters
Huawei CFO seeks bail on health concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: jane wolsak, alvin chan, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, united, seeks, chinese, health, meng, told, huawei, iran, reported, concerns, states, bail, court, skycom, cfo


Huawei CFO seeks bail on health concerns

Her family assured the court she would remain in Vancouver if she was granted bail, according to the court documents. Her husband said he plans to bring the couple’s daughter to Vancouver to attend school during the proceedings. Meng will be back in the court for a bail hearing on Monday.

Huawei, the world’s biggest supplier of telecoms network equipment and second biggest smartphone seller, did not offer an immediate comment on the court documents. The company, a market leader across many countries in Europe, Asia and Africa, previously said it has complied with all applicable rules.

Earlier on Sunday, China’s foreign ministry summoned the U.S. ambassador to lodge a “strong protest” over the arrest, and said the United States should withdraw its arrest warrant.

Chinese Vice Foreign Minister Le Yucheng told U.S. ambassador Terry Branstad the United States had made an “unreasonable demand” on Canada to detain Meng while she was passing through Vancouver, China’s Foreign Ministry said.

“The actions of the U.S. seriously violated the lawful and legitimate rights of the Chinese citizen, and by their nature were extremely nasty,” Le told Branstad.

China urged the United States to withdraw the arrest warrant, Le added. “China will respond further depending on U.S. actions,” he said, without elaborating.

On Saturday, Le warned the Canadian ambassador there would be severe consequences if it did not immediately release Meng.

There was no immediate reaction from Canada. On Friday, Foreign Minister Chrystia Freeland told reporters Canada’s relationship with China was important, and the country’s ambassador in Beijing has assured the Chinese consular access will be provided to Meng.

The United States has been looking since at least 2016 into whether Huawei shipped U.S.-origin products to Iran and other countries in violation of U.S. export and sanctions laws, Reuters reported in April.

The U.S. case against Meng involves Skycom Tech, which Huawei has described as one of its “major local partners” in Iran. Huawei used Skycom’s Tehran office to provide mobile network equipment to several major telecommunications companies in Iran, people familiar with the company’s operations have told Reuters.

In December 2012, Reuters reported that documents showed Skycom had tried to sell embargoed Hewlett-Packard computer equipment in 2010 to Iran’s largest mobile-phone operator.

Reuters later reported that Skycom had much closer ties to Huawei and Meng than previously known.

In Canadian court papers made public on Friday, an investigation by U.S. authorities found Huawei operated Skycom as an “unofficial subsidiary” to conduct business in Iran.

Huawei said its Iran operations were “in strict compliance with applicable laws, regulations and sanctions” of the United Nations, United States and European Union, according to Canadian court documents released on Sunday.

U.S. officials allege that Meng and other Huawei representatives misled financial institutions about Huawei’s control of Skycom, so the Chinese company could gain access to the international banking system. As a result, an unidentified financial institution cleared more than $100 million worth of transactions related to Skycom through the U.S. between 2010 and 2014, the court papers said.

On Thursday, Reuters identified HSBC Holdings as one of the banks involved in the Meng case and, citing sources, reported that the probe included possible bank fraud.

Companies are barred from using the U.S. financial system to funnel goods and services to sanctioned entities.

U.S. Senator Marco Rubio said on Sunday he would “100 percent absolutely” introduce a measure in the new Congress that would ban Chinese telecom companies from doing business in the United States.

“We have to understand Chinese companies are not like American companies. OK. We can’t even get Apple to crack an iPhone for us in a terrorist investigation,” he told CBS “Face the Nation.”

“When the Chinese ask a telecom company, we want you to turn over all the data you’ve gathered in the country you’re operating in, they will do it. No court order. Nothing like that. They will just do it. They have to. We need to understand that.”

Rubio was a strong critic of China’s ZTE Corp, which pleaded guilty in 2017 to violating U.S. laws that restrict the sale of American-made technology to Iran.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: jane wolsak, alvin chan, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, united, seeks, chinese, health, meng, told, huawei, iran, reported, concerns, states, bail, court, skycom, cfo


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Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues

Technology stocks across the region were under pressure, including many Huawei partners and suppliers. Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. “Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said. ZTE shares listed in Hong Kong were down 5.94 percent on the


Technology stocks across the region were under pressure, including many Huawei partners and suppliers. Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. “Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said. ZTE shares listed in Hong Kong were down 5.94 percent on the
Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: saheli roy choudhury, eustance huang, miguel candela, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, rout, continues, shares, stocks, fell, markets, hits, equipment, technology, major, tech, softbank, represents, selloff, hard, huawei, global, zte


Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues

Technology stocks across the region were under pressure, including many Huawei partners and suppliers.

Chipmaker Samsung tumbled 2.29 percent, Sunny Optical, which makes some of the lenses for Huawei phones, fell 5.47 percent and AAC Technologies declined 5.59 percent on the day. Chinasoft International, where Huawei is a strategic shareholder, dropped 11.71 percent.

Shares of Nikkei heavyweight SoftBank Group fell 4.93 percent. Last year, SoftBank and Huawei jointly demonstrated potential use of the next generation of high-speed mobile internet; SoftBank is taking its mobile unit public on Dec. 19.

The negative sentiment rippled through the broader Japanese tech sector, with shares of Tokyo Electron down 4.54 percent, Advantest falling 5.30 percent and TDK Corp dropping 6.64 percent.

Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. Asia’s Apple suppliers, in general, saw Thursday declines.

Analysts at Jefferies pointed out that Huawei has a major global presence in various technology areas such as telecommunications equipment, semiconductors, smartphones and cloud computing. It also represents a major growth driver for many tech manufacturers.

Huawei’s Meng, who is the daughter of the company’s founder, faces extradition to the U.S., according to Canada’s Department of Justice.

While the arrest represents a new escalation in American efforts to hold Chinese companies accountable for violation of U.S. laws, it is likely to elicit an angry reaction from Beijing, according to Eurasia Group.

“The investigation of Huawei could be a prelude to further action against the firm and its senior officials,” the Eurasia Group analysts said, adding that if the U.S. places a sudden ban on Huawei equipment, like it did with ZTE, the impact would be much greater.

“Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said.

ZTE shares listed in Hong Kong were down 5.94 percent on the day.

Both Huawei and ZTE are restricted from selling telecoms equipment in the U.S. due to what the U.S. describes as national security concerns.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: saheli roy choudhury, eustance huang, miguel candela, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, rout, continues, shares, stocks, fell, markets, hits, equipment, technology, major, tech, softbank, represents, selloff, hard, huawei, global, zte


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Trump says he hopes OPEC will be keeping oil flows ‘as is’

President Donald Trump urged OPEC to continue pumping oil at current high levels on Wednesday, one day before the group of petroleum exporting nations is expected to agree to cut output. “Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!” Throughout the year, Trump has publicly blamed OPEC for rising oil prices and ordered the group to take measures to reduce the cost of crude. The group is trying to prevent a repeat of 20


President Donald Trump urged OPEC to continue pumping oil at current high levels on Wednesday, one day before the group of petroleum exporting nations is expected to agree to cut output. “Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!” Throughout the year, Trump has publicly blamed OPEC for rising oil prices and ordered the group to take measures to reduce the cost of crude. The group is trying to prevent a repeat of 20
Trump says he hopes OPEC will be keeping oil flows ‘as is’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: tom dichristopher, omar marques, lightrocket, getty images
Keywords: news, cnbc, companies, president, saudi, prices, group, flows, output, trump, nations, supply, oil, opec, keeping, hopes


Trump says he hopes OPEC will be keeping oil flows 'as is'

President Donald Trump urged OPEC to continue pumping oil at current high levels on Wednesday, one day before the group of petroleum exporting nations is expected to agree to cut output.

“Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!” Trump tweeted.

OPEC meets on Thursday in Vienna, Austria and is reportedly aiming to remove at least 1.3 million barrels per day from the market. The group began managing crude supply in partnership with Russia and several other nations last year in order to end a punishing downturn in oil prices.

The alliance’s policy of capping output has drawn Trump’s ire because the president wants fuel costs to fall at U.S. gas stations. Throughout the year, Trump has publicly blamed OPEC for rising oil prices and ordered the group to take measures to reduce the cost of crude.

In June, OPEC agreed to increase output after the alliance unintentionally removed more barrels from the market than it intended. Top OPEC producer Saudi Arabia, a close U.S. ally, is responsible for most of the surge in supply since mid-year. The kingdom’s output reportedly surpassed a record 11 million bpd in November.

At the time OPEC agreed to hike output, the Trump administration was preparing to restore sanctions on Iran, the group’s third biggest producer. That raised concerns about supply shortages and pushed up prices throughout much of the year.

However, OPEC now expects the oil market to swing into oversupply. The group is trying to prevent a repeat of 2014, when a global crude glut crushed oil prices.

The cost of crude has collapsed more than 30 percent over the last two months, putting pressure on budgets in oil-exporting nations. Analysts say current low prices will likely cause American oil drillers to issue conservative spending plans for 2019 and potentially return less money to shareholders.

Still, Trump urged Saudi Arabia to drive prices even lower last month.

The kingdom now faces the challenge of pushing through production cuts without alienating Trump. The U.S. president has defended the Saudi leadership despite a CIA assessment that Crown Prince Mohammed bin Salman was likely involved in the killing of Washington Post columnist Jamal Khashoggi in October.

The outcry over the incident on Capitol Hill grew louder on Tuesday after CIA Director Gina Haspel briefed senators on the agency’s assessment.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: tom dichristopher, omar marques, lightrocket, getty images
Keywords: news, cnbc, companies, president, saudi, prices, group, flows, output, trump, nations, supply, oil, opec, keeping, hopes


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Trump’s year in OPEC tweets: How the president deflected blame for rising oil prices

Trump chalked up his decision in no small part to his desire to keep oil prices low and protect U.S. arms sales to Saudi Arabia. Trump’s Twitter “thank you” to the Saudis was notable for several reasons. Second, by thanking the Saudis, Trump did something that he once criticized as a sign of weakness and idiocy. It’s not clear how this plays into Trump’s calculus, or whether the president truly intends to pursue ultra-low prices. The White House did not respond to a request for clarification on


Trump chalked up his decision in no small part to his desire to keep oil prices low and protect U.S. arms sales to Saudi Arabia. Trump’s Twitter “thank you” to the Saudis was notable for several reasons. Second, by thanking the Saudis, Trump did something that he once criticized as a sign of weakness and idiocy. It’s not clear how this plays into Trump’s calculus, or whether the president truly intends to pursue ultra-low prices. The White House did not respond to a request for clarification on
Trump’s year in OPEC tweets: How the president deflected blame for rising oil prices Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: tom dichristopher, omar marques, lightrocket, getty images, -derek brower, rs energy group director
Keywords: news, cnbc, companies, trumps, tweets, deflected, barrel, saudis, blame, saudi, trump, low, prices, twitter, rising, widely, president, opec, oil


Trump's year in OPEC tweets: How the president deflected blame for rising oil prices

The following week, oil fell below $55 a barrel and Trump took to Twitter to heap praise on Saudi Arabia and urge the kingdom to keep driving down the cost of crude:

One day earlier, Trump announced he would stand by Saudi Arabia, despite the CIA reportedly concluding that Crown Prince Mohammed bin Salman was likely involved in Khashoggi’s death. Trump chalked up his decision in no small part to his desire to keep oil prices low and protect U.S. arms sales to Saudi Arabia.

Trump’s Twitter “thank you” to the Saudis was notable for several reasons. First and foremost, it’s widely seen as part of a broader effort to dissuade the Saudis from cutting output and boosting prices, even though the OPEC alliance is widely expected to do just that this week.

Second, by thanking the Saudis, Trump did something that he once criticized as a sign of weakness and idiocy. In a March 2012 tweet, Trump said the Saudis “manipulate the price then think we are idiots and will thank them for agreeing to release some more oil. We need a leader who knows how to deal with OPEC.”

Lastly, the tweet raises questions about how low is low enough for Trump. The president has not made that clear, but in tweets in 2012 and 2013, he said crude oil is not worth more than $30 a barrel, and while $40 might be acceptable, $25 is ideal.

Analysts already warn that oil prices at $50 a barrel will start to put financial pressure on U.S. drillers, who rely on expensive techniques like hydraulic fracturing to produce oil and gas. It’s not clear how this plays into Trump’s calculus, or whether the president truly intends to pursue ultra-low prices.

The White House did not respond to a request for clarification on Trump’s preferred oil price.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: tom dichristopher, omar marques, lightrocket, getty images, -derek brower, rs energy group director
Keywords: news, cnbc, companies, trumps, tweets, deflected, barrel, saudis, blame, saudi, trump, low, prices, twitter, rising, widely, president, opec, oil


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TD Ameritrade becomes first US brokerage to partner with Tencent’s WeChat in America

TD Ameritrade is partnering with Tencent as the U.S. brokerage firm looks to tap the massive user base of the Chinese technology company’s WeChat messaging app. The move doesn’t get TD Ameritrade into mainland China yet, but would allow U.S. users to use the portal to check market data and other features. The bulk of WeChat’s users are in mainland China and TD Ameritrade would likely need to work to generate awareness of the mini program for U.S. users. The news followed an announcement a few da


TD Ameritrade is partnering with Tencent as the U.S. brokerage firm looks to tap the massive user base of the Chinese technology company’s WeChat messaging app. The move doesn’t get TD Ameritrade into mainland China yet, but would allow U.S. users to use the portal to check market data and other features. The bulk of WeChat’s users are in mainland China and TD Ameritrade would likely need to work to generate awareness of the mini program for U.S. users. The news followed an announcement a few da
TD Ameritrade becomes first US brokerage to partner with Tencent’s WeChat in America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: evelyn cheng, zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, company, wechat, users, china, foreign, financial, america, partner, mainland, brokerage, ameritrade, td, chinese, tencents


TD Ameritrade becomes first US brokerage to partner with Tencent's WeChat in America

TD Ameritrade is partnering with Tencent as the U.S. brokerage firm looks to tap the massive user base of the Chinese technology company’s WeChat messaging app.

The online brokerage announced Monday it’s opening a portal on WeChat for U.S. users, following a similar launch in August for Hong Kong users. The move doesn’t get TD Ameritrade into mainland China yet, but would allow U.S. users to use the portal to check market data and other features. It gives the company a first-mover advantage in being present on the most popular social messaging app in China, amid a steady push of foreign financial firms into the world’s second-largest economy.

“For greater Asia, China, there is obviously a large number of customers here who are interested in investing in U.S. markets,” JB Mackenzie, the managing director of TD Ameritrade Asia, said in an interview with CNBC Monday.

WeChat has more than 1 billion monthly active users, according to Tencent. Known in China as Weixin, the mobile app is also used by many overseas Chinese and foreigners. It has evolved from recorded voice messages to a means of paying for store purchases and utility bills. Users can also access third-party services such as SF Express — a delivery company similar to FedEx — through “mini programs” that live within the WeChat app.

TD Ameritrade’s portal will be a mini program. The company says users can access market data, investor education materials, account balance information and agent chat services. The bulk of WeChat’s users are in mainland China and TD Ameritrade would likely need to work to generate awareness of the mini program for U.S. users.

“WeChat has been expanding its offering globally, and we are very excited that TD Ameritrade is using WeChat to bring our unrivaled convenience and accessibility to its customers,” Juliet Zhu, general manager and head of WeChat Marketing at Tencent, said in a release.

TD Ameritrade’s push to work with a leading Chinese brand comes as Beijing has stepped up its efforts this year to make good on years-long promises to open up its financial markets to foreign players.

This past Friday, UBS received approval to become the first foreign bank to increase its stake in a Chinese securities joint venture to a majority 51 percent. The news followed an announcement a few days earlier that German insurer Allianz could establish a wholly-owned unit in mainland China. In early November, American Express received preparatory approval from the People’s Bank of China for a clearing and settlement license in mainland China, where the company has formed a joint venture with Chinese fintech (financial technology) company LianLian.

“(In the) past six months there’s an increasing appetite from the (multinational corporations) to double down and increase their presence in China. That of course was triggered by new regulation (for allowing majority stakes),” Cliff Sheng, financial services partner at consulting firm Oliver Wyman, said in a phone interview Monday.

Sheng noted the ability of foreign financial firms to succeed in China depends on how much they can commit to localizing their services. “This is the primary concern for the foreign players on top of getting the license,” he said.

In this case, TD Ameritrade is working with one of the leaders in China’s rapidly developing fintech sector. WeChat’s mobile pay function vies with Alibaba-affiliate Alipay as one of the primary means of payment in mainland China today, and parent company Tencent is behind the country’s first digital bank, WeBank.

“I think there are some amazing ideas ready to burst out of this scene,” Mackenzie said. “What you have are innovations from all parts of this world that are working to bring these ideas to customers, and that’s an exciting opportunity to us.”


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: evelyn cheng, zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, company, wechat, users, china, foreign, financial, america, partner, mainland, brokerage, ameritrade, td, chinese, tencents


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Huawei says it will hit $100 billion in revenue for 2018

Huawei’s revenues will in 2018 surpass $100 billion for the first time, a top boss at the Chinese tech giant said Thursday. “There is no problem that we can hit the $100 billion mark,” Xu said, in a translation that was verified by CNBC. Huawei generated 325.7 billion yuan in revenue for the first six months of 2018, or around $49 billion, according to the exchange rate at the end of that reporting period. For all of 2017, the Chinese firm reported revenues of $92.5 billion based on year-end exc


Huawei’s revenues will in 2018 surpass $100 billion for the first time, a top boss at the Chinese tech giant said Thursday. “There is no problem that we can hit the $100 billion mark,” Xu said, in a translation that was verified by CNBC. Huawei generated 325.7 billion yuan in revenue for the first six months of 2018, or around $49 billion, according to the exchange rate at the end of that reporting period. For all of 2017, the Chinese firm reported revenues of $92.5 billion based on year-end exc
Huawei says it will hit $100 billion in revenue for 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: arjun kharpal, zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, revenues, yearend, billion, yuan, exchange, hit, 100, chinese, 2018, huawei, revenue, xu


Huawei says it will hit $100 billion in revenue for 2018

Huawei’s revenues will in 2018 surpass $100 billion for the first time, a top boss at the Chinese tech giant said Thursday.

Speaking to CNBC in Mandarin via a translator, Eric Xu, one of the rotating chairmen at Huawei said that business is growing “slightly better” than had been expected.

“There is no problem that we can hit the $100 billion mark,” Xu said, in a translation that was verified by CNBC.

Xu did not elaborate on what had been driving growth.

Huawei generated 325.7 billion yuan in revenue for the first six months of 2018, or around $49 billion, according to the exchange rate at the end of that reporting period. For all of 2017, the Chinese firm reported revenues of $92.5 billion based on year-end exchange rates.

The growth so far has been driven by strong performance in a variety of businesses, especially the consumer division which has continued to rise. Huawei is now the world’s second-largest smartphone maker by market share, ahead of Apple.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: arjun kharpal, zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, revenues, yearend, billion, yuan, exchange, hit, 100, chinese, 2018, huawei, revenue, xu


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Battered-down bitcoin jumps 15%, lifting cryptocurrency market value by $20 billion

Bitcoin is at the end of a distress cycle, says BlockTower 6 Hours Ago | 06:01Other major cryptocurrencies also rallied Wednesday afternoon. The entire cryptocurrency market capitalization rallied by more than $20 billion in 24 hours, according to data from CoinMarketCap. Brian Kelly, CEO of BKCM, said bitcoin may have also been boosted by “hash wars” over bitcoin cash finally coming to an end. That digital currency split into two competing versions earlier in November— “Bitcoin ABC” and “Bitcoi


Bitcoin is at the end of a distress cycle, says BlockTower 6 Hours Ago | 06:01Other major cryptocurrencies also rallied Wednesday afternoon. The entire cryptocurrency market capitalization rallied by more than $20 billion in 24 hours, according to data from CoinMarketCap. Brian Kelly, CEO of BKCM, said bitcoin may have also been boosted by “hash wars” over bitcoin cash finally coming to an end. That digital currency split into two competing versions earlier in November— “Bitcoin ABC” and “Bitcoi
Battered-down bitcoin jumps 15%, lifting cryptocurrency market value by $20 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: kate rooney, lucas jackson, omar marques, sopa images, lightrocket, getty images
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Battered-down bitcoin jumps 15%, lifting cryptocurrency market value by $20 billion

Bitcoin is at the end of a distress cycle, says BlockTower 6 Hours Ago | 06:01

Other major cryptocurrencies also rallied Wednesday afternoon. XRP, the second largest by market cap, rose 12 percent. Ether, the third biggest, was up 14 percent, according to CoinMarketCap.com. The entire cryptocurrency market capitalization rallied by more than $20 billion in 24 hours, according to data from CoinMarketCap.

Bitcoin is still deeply in the red this year. The cryptocurrency has dropped by more than 68 percent in 2018, and is now off more than 77 percent from its all-time high.

Andy Bromberg, co-founder and president of CoinList, a platform for listing digital tokens, said Wednesday’s recovery may have been the result of investors “digging back in after the craziness of last week.”

“Today’s rise is mostly a reaction to the precipitous drops last week and people thinking that may have been an overreaction,” Bromberg told CNBC.

Because crypto markets are still relatively small, one buyer placing an especially large “buy” order can “kick off an avalanche,” Bromberg said.

Brian Kelly, CEO of BKCM, said bitcoin may have also been boosted by “hash wars” over bitcoin cash finally coming to an end. That digital currency split into two competing versions earlier in November— “Bitcoin ABC” and “Bitcoin SV”.

“You’re seeing the bitcoin cash saga play itself out,” Kelly said. “People were funding a lot of that by selling bitcoin, so one element of sellers has left the market.”

While Kelly said positive headlines this week didn’t necessarily result in the double-digit percent spike, it was good for the overall sentiment in crypto markets.

“People are starting to understand that this is a legitimate asset class,” Kelly said.


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: kate rooney, lucas jackson, omar marques, sopa images, lightrocket, getty images
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Bitcoin fights back, but struggles to stay above $4,000

Bitcoin and other notable cryptocurrencies rose in value on Monday after a brutal week for the nascent market. The world’s best-known and most-valuable digital currency climbed back above the $4,000 mark late Sunday, according to CoinMarketCap data. However, later in the day, bitcoin pared its losses, and on Monday was trading 5.54 percent higher to a price of $3,982.80 shortly after 7 a.m. Worries had built up around a so-called “hard fork” that led to the creation of two new versions of the bi


Bitcoin and other notable cryptocurrencies rose in value on Monday after a brutal week for the nascent market. The world’s best-known and most-valuable digital currency climbed back above the $4,000 mark late Sunday, according to CoinMarketCap data. However, later in the day, bitcoin pared its losses, and on Monday was trading 5.54 percent higher to a price of $3,982.80 shortly after 7 a.m. Worries had built up around a so-called “hard fork” that led to the creation of two new versions of the bi
Bitcoin fights back, but struggles to stay above $4,000 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: ryan browne, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, record, idea, fights, notable, trading, higher, 4000, stay, hash, price, struggles, transaction, rate, bitcoin


Bitcoin fights back, but struggles to stay above $4,000

Bitcoin and other notable cryptocurrencies rose in value on Monday after a brutal week for the nascent market.

The world’s best-known and most-valuable digital currency climbed back above the $4,000 mark late Sunday, according to CoinMarketCap data.

Its price fell as low as $3,447.58 on Sunday, as investor angst over the cryptocurrency’s plunge worsened. However, later in the day, bitcoin pared its losses, and on Monday was trading 5.54 percent higher to a price of $3,982.80 shortly after 7 a.m. ET.

Cryptocurrencies are still well off their record highs though. Bitcoin is down more than 80 percent since it reached an all-time high close to $20,000 in December 2017. XRP and ether, the second and third-largest virtual currencies respectively, are both down roughly 90 percent since their record highs.

The market was shaken by a sudden wave of volatility on November 14, when bitcoin suddenly broke below $6,000. Worries had built up around a so-called “hard fork” that led to the creation of two new versions of the bitcoin offshoot cryptocurrency bitcoin cash.

Such events tend to occur when there is disagreement in the community about how to scale a cryptocurrency efficiently so that it can cope with a higher volume of trading. Bitcoin’s blockchain, for instance, has been known to grow sluggish in events of high demand, with transaction times taking longer and fees rising.

Other notable concerns for investors include the prospect of increased regulatory scrutiny and bitcoin’s falling “hash rate” — essentially the rate at which a bitcoin “miner” solves complex mathematical problems to add a transaction to the underpinning blockchain network.

“Bitcoin has been correlated to its hash rate and with it now falling, so is the price,” Charles Hayter, chief executive of digital currency comparison site CryptoCompare, told CNBC via email.

“The idea is that the hash rate gives some idea of what underlying opex (operating expenses) and capital costs people are willing to utilize to generate bitcoin and give it a benchmark price.”


Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: ryan browne, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, record, idea, fights, notable, trading, higher, 4000, stay, hash, price, struggles, transaction, rate, bitcoin


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‘Stranger Things’ star Millie Bobby Brown named UNICEF’s youngest-ever goodwill ambassador

The United Nations International Children’s Emergency Fund (UNICEF) welcomed Brown, 14, as the latest Goodwill Ambassador for the non-profit on Tuesday, making her the youngest person ever to step into the position. “Given UNICEF’s global role as the world’s leading voice for children and young people, to be the youngest-ever Goodwill Ambassador for UNICEF is more than an honor. Brown has supported UNICEF’s work since 2016, having hosted the non-profit’s 70th anniversary celebrations that year.


The United Nations International Children’s Emergency Fund (UNICEF) welcomed Brown, 14, as the latest Goodwill Ambassador for the non-profit on Tuesday, making her the youngest person ever to step into the position. “Given UNICEF’s global role as the world’s leading voice for children and young people, to be the youngest-ever Goodwill Ambassador for UNICEF is more than an honor. Brown has supported UNICEF’s work since 2016, having hosted the non-profit’s 70th anniversary celebrations that year.
‘Stranger Things’ star Millie Bobby Brown named UNICEF’s youngest-ever goodwill ambassador Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: alexandra gibbs, lev radin pacific press, lightrocket, getty images
Keywords: news, cnbc, companies, unicefs, things, ambassador, actress, brown, star, young, youngestever, work, children, bobby, stranger, world, named, millie, including, goodwill


'Stranger Things' star Millie Bobby Brown named UNICEF's youngest-ever goodwill ambassador

When she’s not starring on Netflix’s “Stranger Things,” Emmy award-nominated actress Millie Bobby Brown takes time to promote causes she’s passionate about — and during this year’s World Children’s Day, she was recognized for doing just that.

The United Nations International Children’s Emergency Fund (UNICEF) welcomed Brown, 14, as the latest Goodwill Ambassador for the non-profit on Tuesday, making her the youngest person ever to step into the position.

“Given UNICEF’s global role as the world’s leading voice for children and young people, to be the youngest-ever Goodwill Ambassador for UNICEF is more than an honor. It’s a powerful privilege,” the actress said during a press conference at the UN headquarters in New York.

As a globally-recognized actor, with millions of social media followers, Brown plans on using her platform to highlight issues affecting younger people, such as poverty, violence and lack of education or shelter.

“I will speak out for the millions of children and young people whose voices have been silenced for far too long,” she said.

“I will shine a light on the issues that vulnerable children and young people have suffered around the world, including representing them at places where they haven’t yet had a seat at the table.”

“Most of all, I will make sure children and young people know their rights and I will do everything I can to empower them, to be the change they want to see in the world.”

During her speech, the actress said that she was looking forward to meeting and helping as many children as possible — and in doing so, she hopes her fans will be motivated to raise their own voices.

Brown has supported UNICEF’s work since 2016, having hosted the non-profit’s 70th anniversary celebrations that year. In addition to highlighting UNICEF’s work on her platforms, she draws attention to a whole host of other topics, including gender equality and gun violence.

As a Goodwill Ambassador for the non-profit, Brown will be joining the ranks of many others who’ve taken on this role, including Orlando Bloom, Shakira, David Beckham and Priyanka Chopra.


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: alexandra gibbs, lev radin pacific press, lightrocket, getty images
Keywords: news, cnbc, companies, unicefs, things, ambassador, actress, brown, star, young, youngestever, work, children, bobby, stranger, world, named, millie, including, goodwill


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Cory Booker talks with Obama, Clinton strategists in Iowa as he mulls 2020 run

Clinton, the eventual Democratic nominee, edged out Sen. Bernie Sanders, I-Vt., by less than a percentage point in the 2016 caucuses. Eventual GOP nominee and President Donald Trump, on the other hand, lost the Republican Iowa Caucus to Sen. Ted Cruz of Texas. Paul and Booker held one of their earliest discussions in October, during the Iowa Democratic Party’s annual fall gala in Des Moines in October. Obama turned heads early on in the 2008 campaign, defeating Clinton in the Iowa Caucuses. “We’


Clinton, the eventual Democratic nominee, edged out Sen. Bernie Sanders, I-Vt., by less than a percentage point in the 2016 caucuses. Eventual GOP nominee and President Donald Trump, on the other hand, lost the Republican Iowa Caucus to Sen. Ted Cruz of Texas. Paul and Booker held one of their earliest discussions in October, during the Iowa Democratic Party’s annual fall gala in Des Moines in October. Obama turned heads early on in the 2008 campaign, defeating Clinton in the Iowa Caucuses. “We’
Cory Booker talks with Obama, Clinton strategists in Iowa as he mulls 2020 run Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: brian schwartz, michael brochstein, lightrocket, getty images
Keywords: news, cnbc, companies, sen, talks, women, obama, mulls, cory, early, president, strategists, clinton, campaign, 2020, democratic, run, iowa, booker, paul


Cory Booker talks with Obama, Clinton strategists in Iowa as he mulls 2020 run

Sen. Cory Booker, D-N.J., has started consulting with two top Iowa presidential campaign strategists – one who worked with Hillary Clinton and another who worked with former President Barack Obama – as he contemplates a run for the White House in 2020, CNBC has learned.

These early conversations with top-tier consultants in Iowa, where the major parties hold their first contests of the presidential election season, are the latest signs Booker could be preparing to launch a campaign. He has said publicly that he is thinking about running for president.

The Iowa Caucuses represent an early test for candidates on the road to their party’s nomination for president. Clinton, the eventual Democratic nominee, edged out Sen. Bernie Sanders, I-Vt., by less than a percentage point in the 2016 caucuses. Eventual GOP nominee and President Donald Trump, on the other hand, lost the Republican Iowa Caucus to Sen. Ted Cruz of Texas.

It appears that Booker is looking to get a head start on the rest of the potential Democratic 2020 field in the crucial state. He has held discussions with Matt Paul, who led Clinton’s Iowa Caucus operation in 2016, according to three people with direct knowledge of the matter. Paul currently works as senior vice president for consulting firm Cornerstone Government Affairs.

Paul and Booker held one of their earliest discussions in October, during the Iowa Democratic Party’s annual fall gala in Des Moines in October. At the party, Paul, who is known as a “state ambassador” for Democrats considering a run for president, acted as an intermediary for Booker as he introduced him to dozens of political operatives and party activists, according to a person familiar with the discussions.

The two have stayed in touch since the party, discussing a variety of topics, including how Democrats win during the Iowa Caucuses as well as the potentially expansive field of potential Democratic presidential candidates in 2020, said two people familiar with the matter.

A person close to Booker emphasized that these conversations have been general in nature and that it is too early to say whether the New Jersey lawmaker will try to hire Paul as a consultant. Booker is also up for re-election to the Senate in 2020.

A spokesman for Booker declined to comment. Paul did not return repeated requests for comment.

Meanwhile, Jeff Link, Obama’s deputy director for paid media and research during his 2008 run for the White House, said he has also been in touch with Booker. According to Link’s website, he coordinated all paid media and polling in 25 states, including seven battleground states, for Obama’s campaign that year. Obama turned heads early on in the 2008 campaign, defeating Clinton in the Iowa Caucuses.

Booker and Link also privately spoke at the gala, Link told CNBC in an interview. He said he has not heard from either Booker or his team since then. He noted, however, that his first meeting with the Democratic lawmaker at the party was an introduction. They also talked about the candidates Booker was backing at the time – and the rousing speech he gave that night.

“I thought he gave a great speech. He got the crowd really engaged and he did an excellent job there,” Link said. “He would be a real factor if he has a go here in Iowa.”

Booker’s speech focused, in part, on a call to support women who run for office and those come forward with sexual assault allegations. The address came just hours after Democrats failed to block the nomination of Brett Kavanaugh to the Supreme Court. Kavanaugh, a former federal appeals judge in D.C., was accused of sexual assaulting a girl when they were both in high school more than three decades ago. He vehemently denied this allegation and others that surfaced. The Senate confirmed him to the top court along mostly partisan lines, 50 to 48.

“We’re not defined by a president who does not believe women,” Booker said in his speech. “We’re gonna be defined when this state not only says that we believe women, but that we elect women!”

At least 100 women went on to win their individual House races during the midterm elections earlier this month.

Booker has made other moves that indicate he is seriously preparing to run for president.

Next month, he is reportedly set to a second trip to New Hampshire, which traditionally holds the first primary election of the campaign season. Politico recently reported that Booker has been reaching out to other potential consultants in that state as well as in South Carolina, another early primary state.

Recently polling puts Booker in the top 10 of preferred presidential candidates for Democratic voters. According to a Morning Consult/ Politico poll, Booker is ranked sixth among Democrats’ preferences for their 2020 candidate, scoring 3 percent of the vote. California Sen. Kamala Harris, Massachusetts Sen. Elizabeth Warren, Texas Rep. Beto O’Rourke, former Vice President Joe Biden and Sanders rank ahead of Booker.

The survey of 733 Democratic voters took place online with a four-point margin of error.

Correction: This story was updated to reflect Beto O’Rourke’s title.


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: brian schwartz, michael brochstein, lightrocket, getty images
Keywords: news, cnbc, companies, sen, talks, women, obama, mulls, cory, early, president, strategists, clinton, campaign, 2020, democratic, run, iowa, booker, paul


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