China kicks off new Shanghai tech board as it tests new ways to improve volatile stock market

Zhang Hengwei | China News Service | VCG via Getty ImagesChina is trying again to boost the credibility of its volatile stock market. But retail participation has been relatively high, leading to much speculative activity that has caused many to call China’s stock markets a casino. It’s a very different circumstance given the Chinese financial market evolution, but I think it is meaningful. The new stock board is aimed at domestic investors, with minimal opportunity for foreign participation rig


Zhang Hengwei | China News Service | VCG via Getty ImagesChina is trying again to boost the credibility of its volatile stock market. But retail participation has been relatively high, leading to much speculative activity that has caused many to call China’s stock markets a casino. It’s a very different circumstance given the Chinese financial market evolution, but I think it is meaningful. The new stock board is aimed at domestic investors, with minimal opportunity for foreign participation rig
China kicks off new Shanghai tech board as it tests new ways to improve volatile stock market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: evelyn cheng
Keywords: news, cnbc, companies, stock, improve, tech, financial, volatile, tests, shanghai, kicks, companies, major, markets, chinese, ways, china, board, market, securities


China kicks off new Shanghai tech board as it tests new ways to improve volatile stock market

Chairman of the China Securities Regulatory Commission Yi Huiman presides over the launch ceremony of the SSE STAR Market or its Nasdaq-style tech board during the 11th Lujiazui Forum 2019 on June 13, 2019 in Shanghai, China. Zhang Hengwei | China News Service | VCG via Getty Images

China is trying again to boost the credibility of its volatile stock market. On Monday, China launched a new Nasdaq-style tech board — the Science and Technology Innovation Board, or “STAR Market” — on which 25 companies were listed, as the country attempts to address investor concerns like market volatility and lack of governance. China boasts the world’s second-largest equity market, just behind the U.S. More foreign capital is expected to flow into mainland Chinese stocks with their inclusion in major investment indexes. But retail participation has been relatively high, leading to much speculative activity that has caused many to call China’s stock markets a casino. Governance is also lacking. In the last few months, some major publicly-listed companies have reported executive criminal detentions, or the disappearance of billions of dollars that cannot be explained. In the meantime, Beijing would also like to keep its best companies listed at home. The country has produced some of the world’s largest technology companies, but they have chosen to list overseas. That’s partly due to stringent profitability requirements at home, and the brand credibility offered by markets such as New York or Hong Kong.

Pilot program

China’s chief securities regulator Yi Huiman has billed the new stock board as a pilot program, to try out new practices before implementation elsewhere. The focus is on valuable industries with major growth potential, such as high-tech equipment manufacturing and biotechnology. The board also creates a domestic investment channel for companies operating in areas of national security that cannot receive foreign capital.

China is centralized, different from the U.S. and Europe. It’s a very different circumstance given the Chinese financial market evolution, but I think it is meaningful. Andy Nybo director at Burton-Taylor International Consulting

Some of the key characteristics of the board are: Allowing some companies of a certain size to list before they have turned a profit

Making it easier for a company to go public by relying on a registration, rather than waiting for regulator approval — 57 companies went public on the Shanghai A-share market last year, versus 143 on Hong Kong’s main board, according to PwC.

Requiring individual investors to have assets of at least 500,000 yuan ($72,655) that can be invested, and two years of securities trading experience. All this sounds promising, except it’s the third time in 10 years that China has established a new major equity market. The last time was in 2013, when the over-the-counter New Third Board began operations. In 2009, the ChiNext was launched in Shenzhen. Neither has been able to gain the same investor interest as the primary A-share market. Anecdotally, many Chinese venture capital firms and other primary market investors are hopeful about a new platform that could allow them to exit investments more easily, and at a high valuation. The China Equity Strategy team at UBS Securities pointed out in a note that the implied average price-to-earnings ratio for the first batch of companies is 53, versus 49 for the ChiNext index.

But many investment funds are preferring to wait and see whether the new board will live up to expectations before commenting, or participating. The most critical thing the Sci-Tech Innovation Board has going for it is public support from Chinese President Xi Jinping, who announced plans for the board last November. Regulators and market participants took just over half a year to put everything together for Monday’s listing. The question is how much of that momentum will continue. “China is centralized, different from the U.S. and Europe. It’s a very different circumstance given the Chinese financial market evolution, but I think it is meaningful,” said Andy Nybo, director at Burton-Taylor International Consulting, which conducts financial markets research. “Regulators, political forces, will try to influence and support (the board) to see it’s a successful initiative.”

Individual vs institutional investors

The new stock board plays into Beijing’s general effort to build up its domestic financial system, which has far less international clout than the overall economy. China’s stock market, in its modern rendition, has existed for less than three decades, while the history of the New York Stock Exchange traces back more than 200 years. “(In China,) we’re likely to move from a world of largely lending-based financing to a little bit more of capital markets -based financing,” Peter Reynolds, partner at management consulting firm Oliver Wyman. “That journey requires a bit of infrastructure to sit beneath it, and parts of that infrastructure can be developed now and (is) being tested.” As an experiment, the Sci-Tech Innovation Board is quite small from a relative capital perspective. Heading into Monday’s launch, the 25 companies were expected to raise 37 billion yuan, according to a report by state news agency Xinhua. In contrast, the Shanghai Stock Exchange has a market valuation of $4.6 trillion, according to the World Federation of Exchanges. The new stock board is aimed at domestic investors, with minimal opportunity for foreign participation right now. But as a high-profile pilot program, its development bears watching for how China’s stock markets might look in the future.

What we are heading towards is a full confrontation … Can’t have a free market and a totally controlled market at the same time. James Early CEO of Stansberry China


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: evelyn cheng
Keywords: news, cnbc, companies, stock, improve, tech, financial, volatile, tests, shanghai, kicks, companies, major, markets, chinese, ways, china, board, market, securities


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Amazon threatens to sue major pharmacy player if it prevents PillPack from accessing patient drug data

That comprehensive data comes indirectly from Surescripts, an electronic-prescribing company that’s owned by some of PillPack’s potential competitors, including CVS and Express Scripts. This week, ReMy indicated that it would cease working with PillPack in the coming days, people familiar with the matter said. “PillPack does not have an agreement with Surescripts that in any way covers the use of this important Protected Health Information,” the statement said. PillPack, in response, noted that


That comprehensive data comes indirectly from Surescripts, an electronic-prescribing company that’s owned by some of PillPack’s potential competitors, including CVS and Express Scripts. This week, ReMy indicated that it would cease working with PillPack in the coming days, people familiar with the matter said. “PillPack does not have an agreement with Surescripts that in any way covers the use of this important Protected Health Information,” the statement said. PillPack, in response, noted that
Amazon threatens to sue major pharmacy player if it prevents PillPack from accessing patient drug data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: christina farr
Keywords: news, cnbc, companies, remy, week, drug, patient, information, data, pharmacy, surescripts, working, sue, prevents, health, pillpack, player, major, company, threatens


Amazon threatens to sue major pharmacy player if it prevents PillPack from accessing patient drug data

PillPack co-founders TJ Parker and Elliot Cohen.

Just over a year after buying online pharmacy PillPack for $753 million, Amazon is engaged in a bitter battle with an incumbent player in the pharmacy industry, which sources tell CNBC is working behind the scenes to prevent the company from accessing important patient data. PillPack’s pharmacy delivery service relies on its access to an accurate list of its patients’ medications, so it can properly inform them about health and safety risks, uncover any duplicate subscriptions and help them keep up with refills. That comprehensive data comes indirectly from Surescripts, an electronic-prescribing company that’s owned by some of PillPack’s potential competitors, including CVS and Express Scripts. According to two people familiar with the matter, PillPack was informed this week that it will soon be cut off from accessing that data via a third-party entity, ReMy Health — a move that could seriously complicate its business. Amazon is considering legal action against Surescripts to halt those efforts, said the people, who asked not to be identified because the deliberations are confidential. One person told CNBC that PillPack has already sent a cease-and-desist letter to Surescripts. It’s the latest in a string of disputes between Amazon and the established pharmacy companies since its purchase of PillPack in June 2018 — a deal that sent shares of pharmacy owners and pharmacy benefit managers tumbling. Last month, CVS filed a lawsuit against a former employee after he told the company he would be taking a job at PillPack. A judge blocked the employee from working for PillPack for 18 months.

Fighting the FTC

Spending on prescriptions in the U.S. is approaching $500 billion a year, and the industry has long been controlled by a handful of large players, who manage pricing and access to medications. Amazon’s jump into the market poses a serious threat to the status quo by giving the e-commerce giant relationships with health insurers and licenses to ship prescriptions to every state except Hawaii. The current imbroglio shows the tangled nature of the pharmacy web, and how hard the incumbents are working to keep control over data and stem a competitive threat. Surescripts manages about 80% of all U.S. prescriptions. It is such a dominant force that in April, the Federal Trade Commission sued the company, alleging “illegal monopolization of e-prescription markets.” Surescripts said last week that the FTC’s complaint “makes significant factual errors” about its business and the market, and it has filed a motion to dismiss the case. PillPack doesn’t contract directly with Surescripts for patient medication information, but goes through ReMy, which compiles the raw data from Surescripts, cleans it up and offers it to clients through an application programming interface. Because PillPack is not contracting with Surescripts, its communication has been with ReMy. This week, ReMy indicated that it would cease working with PillPack in the coming days, people familiar with the matter said. The companies started working together in 2017, the people said. “PillPack is productively working with partners across the healthcare industry to help people throughout the U.S. who can benefit from a better pharmacy experience,” said Jacquelyn Miller, a PillPack spokesperson. “While we’re not surprised when powerful incumbents try to undermine these efforts, we are confident that our collaborative approach to bring customers more choice, more convenience, and improved quality will ultimately prevail.” Surescripts said in a statement it’s committed to privacy and security and that medication history “can reveal a lot about an individual’s health status, including the most sensitive of healthcare conditions.” “PillPack does not have an agreement with Surescripts that in any way covers the use of this important Protected Health Information,” the statement said. Suresripts added that its portfolio does not include “any businesses where we are the source of medication history to retail pharmacies.”

Surescripts said its board, which includes executives from CVS and Cigna, became aware of the issue only after an inquiry with CNBC. PillPack, in response, noted that it has contracts in place to manage protected health information as a licensed pharmacy. “Prescription history is only requested upon consent of the customer, and is held to the same data handling standards as all patient health information handled by PillPack,” Miller said. “Further, PillPack is a covered entity, the same as a physician’s office, and is bound by all healthcare privacy laws.”

‘Makes health care more costly’


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: christina farr
Keywords: news, cnbc, companies, remy, week, drug, patient, information, data, pharmacy, surescripts, working, sue, prevents, health, pillpack, player, major, company, threatens


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Major gold bull markets are rare, but some investors are betting one is here

Gold has been on fire this year, and some investors think the precious metal is poised to do something it has only done twice since World War II: enter a major bull market. In its strictest sense, a bull market is considered to be a gain of more than 20% from the most recent low. But pops like the one that just occurred aren’t considered a genuine bull market by most investors but rather just a cyclical upswing. Gold is also used by investors as a safe haven to trade amid geopolitical tensions.


Gold has been on fire this year, and some investors think the precious metal is poised to do something it has only done twice since World War II: enter a major bull market. In its strictest sense, a bull market is considered to be a gain of more than 20% from the most recent low. But pops like the one that just occurred aren’t considered a genuine bull market by most investors but rather just a cyclical upswing. Gold is also used by investors as a safe haven to trade amid geopolitical tensions.
Major gold bull markets are rare, but some investors are betting one is here Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: fred imbert
Keywords: news, cnbc, companies, trade, stocks, investors, markets, betting, policy, market, bull, gold, yields, rates, major, rare, inflation


Major gold bull markets are rare, but some investors are betting one is here

Gold has been on fire this year, and some investors think the precious metal is poised to do something it has only done twice since World War II: enter a major bull market.

The metal is trading above $1,400 per ounce for the first time since 2013 and is up more than 12% year to date. That also represents a rally of more than 35% since it broke below $1,100 per ounce in late 2015.

In its strictest sense, a bull market is considered to be a gain of more than 20% from the most recent low. But pops like the one that just occurred aren’t considered a genuine bull market by most investors but rather just a cyclical upswing. Instead they would like to see a rally that lasts for years and involves bigger gains.

Gold could build on these recent gains as the Federal Reserve gets set to lower rates, U.S. economic activity slows and trade tensions remain. Historically, gold has rallied when the Fed cuts because such moves depress bond yields and the U.S. dollar. Gold is also used by investors as a safe haven to trade amid geopolitical tensions.

“If our judgment is correct and the U.S. economy is softening and inflation will fall moving forward and yields are going to stay low for an extended period of time, then that’s bullish for gold,” said Chen Zhao, chief global strategist at Alpine Macro.

Investors are betting the Fed will cut interest rates at its July 30-31 policy meeting. Market expectations for a 25 basis-point cut are at 58.9%, according to the CME Group’s FedWatch tool. Expectations for a 50 basis-point decrease are at 41.1%.

A rate cut would come at a time when policymakers and investors are worried about the U.S. economy. Fed Chairman Jerome Powell said on July 10 that business investments have slowed across the U.S. recently as “crosscurrents ” from the ongoing U.S.-China trade war and slower economic growth overseas dampen the outlook on the U.S. economy. At the same time, inflation remains stubbornly below the Fed’s 2% target.

China and the U.S. have been engaged in a trade war for more than a year, exchanging tariffs on billions of dollars worth of their goods in that time. The two countries agreed to restart trade talks late last month. But President Donald Trump said Tuesday the two sides still had a long way to go before they reached a deal.

In Europe, manufacturing activity contracted last month, according to data from IHS Markit. Manufacturing activity in the region was hit by a “challenging economic environment” amid trade tensions and the “political uncertainties.” Data sets like this led European Central Bank President Mario Draghi to clear the path for more stimulus in the region.

This environment of easier monetary policy hits the sweet spot for gold.

“Gold is often thought of as an inflation hedge, yet the two have not been correlated over the past 20 years,” Phillip Colmar, founding partner at MRB Partners, said in a note earlier this month. “Instead, gold thrives and core consumer price inflation tends to rise in an environment where policymakers are deliberately and persistently keeping policy rates and bond yields anchored below nominal GDP growth (i.e. fueling growth and inflation with an easy policy), which was the case of the 1960s and 1970s.”

Colmar added he would not “chase” gold at current levels, saying “conditions are overbought.” However, “we view the recent rise in gold prices as a market-based signal that central banks are providing more reflation (via lower interest rates and bond yields) than is currently necessary to support the global economy.”

The last major bull market in gold lasted from the late 1990s until 2011. The one before that ran between the late 1960s and 1980. Gold benefited from the Fed lowering interest rates during both of those periods, as the central bank’s measures helped spur inflation in the U.S.

To be sure, stocks have also gotten a boost from easier monetary policy. In fact, historically low interest rates have been one of the biggest catalysts for stocks during their current bull market, which is the longest on record. These measures allow companies to borrow money at a cheaper rate so they can grow their businesses or buy back stock.

But Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, thinks it might be time to favor the yellow metal over stocks, saying central banks are about to spark a “paradigm shift” in investing with this round of monetary easing.

Dalio said in a LinkedIn post that assets like stocks “are unlikely to be good real returning investments and that those that will most likely do best will be those that do well when the value of money is being depreciated and domestic and international conflicts are significant, such as gold.”

“Additionally, … most investors are underweighted in such assets, meaning that if they just wanted to have a better balanced portfolio to reduce risk, they would have more of this sort of asset. For this reason, I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one’s portfolio, ” he added.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: fred imbert
Keywords: news, cnbc, companies, trade, stocks, investors, markets, betting, policy, market, bull, gold, yields, rates, major, rare, inflation


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Here’s what major analysts are predicting will happen with Netflix earnings after the bell

Reed Hastings attends Reed Hastings panel during Netflix ‘See What’s Next’ event at Villa Miani on April 18, 2018 in Rome, Italy. Earnings season is underway and there’s no shortage of story lines when Netflix reports its second quarter earnings after the bell on Wednesday. Wall Street analysts say they’ll be squarely focused on key metrics like cash, content, and comments on upcoming competition from Disney and HBO Max. “Wall of worry” refers to when a company runs into a stumbling block in the


Reed Hastings attends Reed Hastings panel during Netflix ‘See What’s Next’ event at Villa Miani on April 18, 2018 in Rome, Italy. Earnings season is underway and there’s no shortage of story lines when Netflix reports its second quarter earnings after the bell on Wednesday. Wall Street analysts say they’ll be squarely focused on key metrics like cash, content, and comments on upcoming competition from Disney and HBO Max. “Wall of worry” refers to when a company runs into a stumbling block in the
Here’s what major analysts are predicting will happen with Netflix earnings after the bell Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: michael bloom
Keywords: news, cnbc, companies, competition, wall, earnings, upcoming, analysts, stocks, analyst, heres, second, bell, predicting, worry, refers, happen, netflix, major


Here's what major analysts are predicting will happen with Netflix earnings after the bell

Reed Hastings attends Reed Hastings panel during Netflix ‘See What’s Next’ event at Villa Miani on April 18, 2018 in Rome, Italy.

Earnings season is underway and there’s no shortage of story lines when Netflix reports its second quarter earnings after the bell on Wednesday. Wall Street analysts say they’ll be squarely focused on key metrics like cash, content, and comments on upcoming competition from Disney and HBO Max.

The company has recently taken heat from analysts over its spending on content as well as its recent loss of comedy shows, ‘Friends,’ and ‘The Office.’

The streaming giant is up 37% year to date, that’s second only to Facebook among the so-called FAANG stocks. But it’s also underperformed the market over the past year, concerning analysts. FAANG refers to a group of internet and tech stocks including Facebook, Amazon, Apple, Netflix, and Google.

Despite the concerns, most analysts are still urging clients to buy into the report.

“NFLX remains one of our top picks, and while the competition/price increase-related churn ‘wall of worry’ could take a few quarters to disprove, we think it presents a good buying opportunity,” J.P. Morgan analyst Doug Anmuth said.

“Wall of worry” refers to when a company runs into a stumbling block in the market causing temporary uncertainty.

Content and competition issues are mostly “noise,” according to analysts at Bank of America

“We see most near term risks for Netflix as fleeting, with structural growth expected to hold,” they said.

“We would see any dip around these worries as an enhanced buying opportunity because we do not see Disney/HBO as the competition and we expect, as has happened before, any price hike driven increase in churn to be short-lived as consumers come back for Netflix’s content.”

However, one analyst says he’s keeping his sell rating, “until we see progress.”

“Should cash burn stabilize and reverse trajectory, we are prepared to reconsider our underperform rating,” Wedbush analyst Michael Pachter said.

Here’s what major analysts are saying about Netflix’s upcoming earnings report:


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: michael bloom
Keywords: news, cnbc, companies, competition, wall, earnings, upcoming, analysts, stocks, analyst, heres, second, bell, predicting, worry, refers, happen, netflix, major


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Europe will reportedly launch a major probe into Amazon’s business practices in days

The European Union’s antitrust chief is planning to open a formal investigation into Amazon in coming days, Bloomberg reported Tuesday, citing sources familiar with the case. The investigation itself does not come as a surprise, as EU Competition Commissioner Margrethe Vestager had already launched a preliminary probe into Amazon in September and was expected to announce whether a full probe would take place. The preliminary investigation focused on how Amazon uses data on its third-party mercha


The European Union’s antitrust chief is planning to open a formal investigation into Amazon in coming days, Bloomberg reported Tuesday, citing sources familiar with the case. The investigation itself does not come as a surprise, as EU Competition Commissioner Margrethe Vestager had already launched a preliminary probe into Amazon in September and was expected to announce whether a full probe would take place. The preliminary investigation focused on how Amazon uses data on its third-party mercha
Europe will reportedly launch a major probe into Amazon’s business practices in days Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren feiner
Keywords: news, cnbc, companies, days, office, probe, business, investigation, vestagers, european, reportedly, reported, vestager, preliminary, practices, amazon, major, launch, amazons, europe, data


Europe will reportedly launch a major probe into Amazon's business practices in days

The European Union’s antitrust chief is planning to open a formal investigation into Amazon in coming days, Bloomberg reported Tuesday, citing sources familiar with the case.

The investigation itself does not come as a surprise, as EU Competition Commissioner Margrethe Vestager had already launched a preliminary probe into Amazon in September and was expected to announce whether a full probe would take place. The preliminary investigation focused on how Amazon uses data on its third-party merchants that sell through Amazon.

Vestager explained the key questions she had about Amazon’s business model in a September interview with CNBC.

“They host a lot of little guys, and at the same time, they’re a big guy in the same market,” Vestager said. “So how do they treat the data that they get from the little guy? Does that give them an advantage that cannot be matched?”

The probe follows a crackdown on Big Tech under Vestager’s time in office. During her term, the European Commission has slapped Google with a combined $9.5 billion in antitrust fines since 2017 and authorities across the region have scrutinized Apple and Facebook for their competition and data practices. The reported Amazon investigation follows news that Vestager’s office plans to fine Qualcomm more than $1 billion for allegedly trying to prevent other chipmakers from gaining business from Apple, according to Bloomberg.

A spokesperson for the European Commission declined to comment. Amazon and did not immediately return a request for comment.

Subscribe to CNBC on YouTube.

Watch: An inside look at how Amazon Prime Now delivers food and household items in less than two hours


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren feiner
Keywords: news, cnbc, companies, days, office, probe, business, investigation, vestagers, european, reportedly, reported, vestager, preliminary, practices, amazon, major, launch, amazons, europe, data


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Roger Stone avoids jail, banned from major social media after judge rules Trump friend breached gag order in Mueller case

A federal judge on Tuesday banned Republican operative Roger Stone from posting anything at all on major social media platforms after ruling that the longtime confidant of President Donald Trump violated an already strict gag order in his criminal case. Jackson’s finding that Stone violated his gag order “seems clear and correct,” said Carl Tobias, a law professor and federal courts expert at the University of Richmond. “Despite numerous chances to mend his ways, Stone persists in misbehaving in


A federal judge on Tuesday banned Republican operative Roger Stone from posting anything at all on major social media platforms after ruling that the longtime confidant of President Donald Trump violated an already strict gag order in his criminal case. Jackson’s finding that Stone violated his gag order “seems clear and correct,” said Carl Tobias, a law professor and federal courts expert at the University of Richmond. “Despite numerous chances to mend his ways, Stone persists in misbehaving in
Roger Stone avoids jail, banned from major social media after judge rules Trump friend breached gag order in Mueller case Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: kevin breuninger
Keywords: news, cnbc, companies, court, stone, judge, federal, social, major, order, stones, jackson, media, trump, rules, ways, roger, criminal, mueller, gag


Roger Stone avoids jail, banned from major social media after judge rules Trump friend breached gag order in Mueller case

Roger Stone (R), the former adviser to U.S. President Donald Trump, arrives at the E. Barrett Prettyman United States Court House with his wife Nydia Stone on July 16, 2019 in Washington, DC.

A federal judge on Tuesday banned Republican operative Roger Stone from posting anything at all on major social media platforms after ruling that the longtime confidant of President Donald Trump violated an already strict gag order in his criminal case.

Judge Amy Berman Jackson during a hearing in Washington, D.C., district court walked through a litany of Stone’s recent posts from his Instagram account that appeared to breach his order not to speak publicly about his case.

Jackson barred Stone from posting on Instagram, Facebook and Twitter — but she decided not to revoke Stone’s bail bond or hold him in contempt for violating her order.

“It seems he is determined to make himself the subject of the story,” Jackson said of Stone, according to BuzzFeed News.

Stone’s lawyer argued that his client’s posts did not have an impact on the case, even if he was communicating about it publicly, BuzzFeed reported.

Federal prosecutors didn’t call on Jackson to revoke Stone’s $250,000 criminal release bond — which would have landed Stone in jail pending trial. Instead, they asked for him to be cut off from his social media presence, Politico reported.

Jackson’s finding that Stone violated his gag order “seems clear and correct,” said Carl Tobias, a law professor and federal courts expert at the University of Richmond. “Despite numerous chances to mend his ways, Stone persists in misbehaving in many ways. The punishment seems appropriate to the misconduct in violating her earlier gag order.”

Stone is charged with witness tampering, obstruction of justice and lying to Congress. He has pleaded not guilty.

Stone, 66, a notoriously verbose political operative who has described himself as a “dirty trickster,” had previously been dressed down by the judge for his public statements about the federal criminal case.

Jackson first imposed a partial gag order in February barring Stone from talking to the media about his case, to avoid prejudicing potential jurors.

That measure came after Stone’s arraignment in Florida federal court, where Stone immediately began a media blitz including interviews with right-wing conspiracy website Infowars, public statements to reporters — and even a video on courthouse fashion.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: kevin breuninger
Keywords: news, cnbc, companies, court, stone, judge, federal, social, major, order, stones, jackson, media, trump, rules, ways, roger, criminal, mueller, gag


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

European stocks close higher as investors monitor earnings; Burberry shares jump 14%

The pan-European Stoxx 600 was up 0.3% at the end of the session, with construction and material stocks, up 1.65%, leading the gains. Sterling slipped to around $1.24 as fears of a no-deal Brexit rose following comments from potential Conservative Party leader, Boris Johnson. Stateside, corporate figures will also be on traders’ minds with J.P. Morgan, Wells Fargo and Johnson & Johnson all set to report. Citigroup kicked off the earnings season on Wall Street Monday, reporting better-than-expect


The pan-European Stoxx 600 was up 0.3% at the end of the session, with construction and material stocks, up 1.65%, leading the gains. Sterling slipped to around $1.24 as fears of a no-deal Brexit rose following comments from potential Conservative Party leader, Boris Johnson. Stateside, corporate figures will also be on traders’ minds with J.P. Morgan, Wells Fargo and Johnson & Johnson all set to report. Citigroup kicked off the earnings season on Wall Street Monday, reporting better-than-expect
European stocks close higher as investors monitor earnings; Burberry shares jump 14% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, earnings, second, stocks, following, investors, burberry, shares, stoxx, major, economy, trade, monitor, european, close, rose, johnson, figures, sales, jump, higher


European stocks close higher as investors monitor earnings; Burberry shares jump 14%

The pan-European Stoxx 600 was up 0.3% at the end of the session, with construction and material stocks, up 1.65%, leading the gains.

Sterling slipped to around $1.24 as fears of a no-deal Brexit rose following comments from potential Conservative Party leader, Boris Johnson. The dollar also strengthened after better-than-expected U.S. retail sales data.

Market players are largely focused on upcoming results from major companies Tuesday. In Europe, Burberry shares soared more than 14% to top the Stoxx 600 after the British luxury brand reported a pick-up in first-quarter sales driven by new designs from creative chief Riccardo Tisci.

Shares of Swedish power tools giant Husqvarna dropped 5% to the bottom of the European blue chip index after its CEO said its full-year 2019 operating margin would be at the lower end of the previous guidance range due to weak sales early in the second quarter.

Fiat Chrysler stock was down 3% at the closing bell after it was initiated at a “sell” rating by Goldman Sachs.

Stateside, corporate figures will also be on traders’ minds with J.P. Morgan, Wells Fargo and Johnson & Johnson all set to report.

Citigroup kicked off the earnings season on Wall Street Monday, reporting better-than-expected profit and revenue numbers for the second quarter.

Shares of Ryanair were up by 2.6% on Tuesday, despite the airline halving its 2020 passenger growth outlook on the back of delayed deliveries of Boeing’s 737 Max jet.

Meanwhile, trade continues to be an area of focus for the market. President Donald Trump said Monday that U.S. tariffs were having a “major effect” on China, following the release of data that showed China’s economy growing at its slowest pace in 27 years.

Elsewhere, in terms of data, the euro zone’s balance of trade for May came in at a surplus of 23 billion euros ($25.85 billion). Seasonally adjusted exports rose by 1.4% while imports were down 1%. The figures provide fresh indication that the currency area’s economy is holding steady amid global trade tensions.

July’s economic sentiment figures for Germany came in at -24.5 versus -22.3 expectations, compounding the economic uncertainty shrouding Europe’s largest economy.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, earnings, second, stocks, following, investors, burberry, shares, stoxx, major, economy, trade, monitor, european, close, rose, johnson, figures, sales, jump, higher


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Deutsche Bank shares slump more than 5% as lender gets ready for major overhaul

Deutsche Bank shares slumped more than 5% as the German lender announced a mass restructuring program over the weekend. In one of its boldest overhauls, the bank will see 18,000 jobs cut by 2022 and the closure of its global equities sales and trading business in a bid to improve profitability. The bank expects the sweeping reforms, which also involve the creation of a 74 billion euro ($83.05 billion) “bad bank,” to cost 7.4 billion euros by 2022. With second-quarter results due on July 25, Deut


Deutsche Bank shares slumped more than 5% as the German lender announced a mass restructuring program over the weekend. In one of its boldest overhauls, the bank will see 18,000 jobs cut by 2022 and the closure of its global equities sales and trading business in a bid to improve profitability. The bank expects the sweeping reforms, which also involve the creation of a 74 billion euro ($83.05 billion) “bad bank,” to cost 7.4 billion euros by 2022. With second-quarter results due on July 25, Deut
Deutsche Bank shares slump more than 5% as lender gets ready for major overhaul Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: elliot smith
Keywords: news, cnbc, companies, 74, billion, deutsche, told, slump, major, shares, york, ready, cut, global, weisbach, 2022, overhaul, gets, bank, lender


Deutsche Bank shares slump more than 5% as lender gets ready for major overhaul

Deutsche Bank shares slumped more than 5% as the German lender announced a mass restructuring program over the weekend. In one of its boldest overhauls, the bank will see 18,000 jobs cut by 2022 and the closure of its global equities sales and trading business in a bid to improve profitability.

The bank expects the sweeping reforms, which also involve the creation of a 74 billion euro ($83.05 billion) “bad bank,” to cost 7.4 billion euros by 2022. With second-quarter results due on July 25, Deutsche is expected to report a net loss of 2.8 billion euros.

Deutsche Bank Chief Financial Officer James von Moltke told CNBC’s Annette Weisbach on Sunday that this will be the last strategy overhaul, aiming to reduce global headcount to around 74,000 and cut adjusted costs by a quarter to 17 billion euros.

Several sources have told CNBC that layoffs at the bank’s offices in New York begin on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: elliot smith
Keywords: news, cnbc, companies, 74, billion, deutsche, told, slump, major, shares, york, ready, cut, global, weisbach, 2022, overhaul, gets, bank, lender


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Most major analysts are staying negative on Tesla shares despite ‘impressive’ deliveries

Tesla shares surged Wednesday after what Barclays called the company’s “impressive” record quarterly deliveries number, but Wall Street analysts largely remain cautious, focused on the upcoming second-quarter earnings report. The result also beat Wall Street’s expectation of 91,000 deliveries, according to analysts surveyed by FactSet, but met the expectation of a record quarter set by CEO Elon Musk last week. “The Q2 delivery beat does not change our cautious view on Q2 earnings,” UBS said in a


Tesla shares surged Wednesday after what Barclays called the company’s “impressive” record quarterly deliveries number, but Wall Street analysts largely remain cautious, focused on the upcoming second-quarter earnings report. The result also beat Wall Street’s expectation of 91,000 deliveries, according to analysts surveyed by FactSet, but met the expectation of a record quarter set by CEO Elon Musk last week. “The Q2 delivery beat does not change our cautious view on Q2 earnings,” UBS said in a
Most major analysts are staying negative on Tesla shares despite ‘impressive’ deliveries Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: michael sheetz
Keywords: news, cnbc, companies, upcoming, negative, tesla, investors, despite, major, deliveries, earnings, companys, teslas, q2, staying, record, impressive, analysts, shares, quarter


Most major analysts are staying negative on Tesla shares despite 'impressive' deliveries

Tesla shares surged Wednesday after what Barclays called the company’s “impressive” record quarterly deliveries number, but Wall Street analysts largely remain cautious, focused on the upcoming second-quarter earnings report.

The electric vehicle maker reported delivering 95,200 cars during the second quarter, beating its previous record of 90,700 deliveries, which happened in the fourth quarter of 2018. The result also beat Wall Street’s expectation of 91,000 deliveries, according to analysts surveyed by FactSet, but met the expectation of a record quarter set by CEO Elon Musk last week.

“The Q2 delivery beat does not change our cautious view on Q2 earnings,” UBS said in a note to investors.

Despite the banner result, which sent Tesla’s stock up nearly 5.9% in trading from Tuesday’s close of $224.55 a share, analysts largely left estimates for the company’s 2019 earnings and revenue unchanged. RBC cautioned investors that Tesla did not update or reiterate its 2019 forecast, which the company did in the first quarter of this year.

Goldman Sachs said it continues “to expect some sequential stepdown in demand and ultimately deliveries as we progress into 3Q19,” the firm said.

Even firms with the most optimistic view on Tesla’s future, such as Baird, told investors to focus on the company’s upcoming second-quarter earnings report. Tesla is expected to report earnings Aug. 7.

“We think Q2 earnings will be the next catalyst to restore confidence and reattract investors to the name,” Baird said. “We continue to like the set-up and believe there are several catalysts upcoming which will contribute to a challenging short environment.”

Here’s what every major analyst said about Tesla’s deliveries.


Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: michael sheetz
Keywords: news, cnbc, companies, upcoming, negative, tesla, investors, despite, major, deliveries, earnings, companys, teslas, q2, staying, record, impressive, analysts, shares, quarter


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

BMW gives its trendsetting 2020 X6 crossover a major makeover in new redesign

The 2020 BMW X6 Source: BMWFew luxury automakers have more extensive vehicle lineups than BMW, launching a broad array of new products over the past decade. The Bavarian marquee refreshed its roster again Tuesday with the redesign of its influential X6 crossover utility vehicle. The 2020 BMW X6 Source: BMWBMW itself has added downsized versions of the X6, such as the X2 and X4. The 2020 BMW X6 Source: BMWInside, the new X6 gets a more driver-focused layout, with a reconfigurable gauge cluster an


The 2020 BMW X6 Source: BMWFew luxury automakers have more extensive vehicle lineups than BMW, launching a broad array of new products over the past decade. The Bavarian marquee refreshed its roster again Tuesday with the redesign of its influential X6 crossover utility vehicle. The 2020 BMW X6 Source: BMWBMW itself has added downsized versions of the X6, such as the X2 and X4. The 2020 BMW X6 Source: BMWInside, the new X6 gets a more driver-focused layout, with a reconfigurable gauge cluster an
BMW gives its trendsetting 2020 X6 crossover a major makeover in new redesign Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: paul a eisenstein
Keywords: news, cnbc, companies, utility, market, bmw, major, crossover, system, models, redesign, vehicle, 2020, source, makeover, model, trendsetting, gives, x6


BMW gives its trendsetting 2020 X6 crossover a major makeover in new redesign

The 2020 BMW X6 Source: BMW

Few luxury automakers have more extensive vehicle lineups than BMW, launching a broad array of new products over the past decade. The Bavarian marquee refreshed its roster again Tuesday with the redesign of its influential X6 crossover utility vehicle. Conceived as a blend of a sports coupe and a sport utility vehicle, the original BMW X6 was a breakout product when it was launched in 2008. Its coupe-like shape has spawned a legion of copycat designs from competitors like Mercedes-Benz and Audi and Porsche’s Cayenne. “It made a difference” in the market, offering more creativity than the classic, boxy SUV, said Stephanie Brinley, a principal analyst at IHS Markit. But Brinley cautions that the trend may have gone too far. BMW and its German rivals alone have added scores of new models since the beginning of the millennium, and the market is now showing signs of over-proliferation.

The 2020 BMW X6 Source: BMW

BMW itself has added downsized versions of the X6, such as the X2 and X4. But that has begun to raise questions about whether the luxury market is now being flooded with too many new models, each generating smaller sales volumes. “How many are too many?” she asked, adding that as the global automotive market begins to slow down, “that will sort out,” with some low-volume models likely to be pulled from showrooms. That could include some BMW offerings, though Brinley sees the X6 as continuing to be one of the brand’s more important and influential products. The 2020 BMW X6 stays close to the design of the outgoing model, but is larger in almost all exterior and interior dimensions. The only significant exception is its slightly lower height.

The 2020 BMW X6 Source: BMW

The midsize “Sport Activity Vehicle,” as BMW prefers to call it, retains the steeply raked, coupe-like roof line that separates it from more classic utility vehicles like the original BMW X5. The 2020 model picks up on the larger version of the signature BMW double-kidney grille first seen on the new X7 flagship. Here, however, buyers can order a package that illuminates the grille, along with the daytime running lights that surround the X6’s LED headlamps. BMW hasn’t disclosed the gas mileage for the 2020 model, but the 2019 X6 xDrive50i got 17 mpg in the city and 20 mpg on the highway. Top speed for all models is 130 mph on standard tires; 155 mph on performance tires. Pricing isn’t available yet, but the base price for the 2019 model is $63,550, plus delivery fees. BMW designers clearly opted for a more aggressive look with the 2020 remake, starting with the larger air intakes on the bumper, as well as the now-standard 20-inch alloy wheels and tires — which can be upgraded to up to 22 inches. The double-bubble roof line flows into twin spoilers above the rear hatch glass. Key design elements, including those spoilers and the “air breathers” that reduce turbulence around the front wheels, have a significant impact on the vehicle’s aerodynamics, improving both fuel economy and performance.

The 2020 BMW X6 Source: BMW

Inside, the new X6 gets a more driver-focused layout, with a reconfigurable gauge cluster and the latest version of the BMW iDrive infotainment system. Buyers can opt for the audiophile Bowers & Wilkins Diamond Surround Sound System, which punches 1,500 watts through 20 separate speakers. For those who prefer to just watch the outside world passing by, the new X6 also offers a panoramic sunroof that’s 83% larger than the outgoing model. Several versions of the 2020 X6 will be available. The rear-wheel drive sDrive40i and all-wheel drive xDrive40i share the same 3.0-liter TwinPower Turbo inline-6 engine with 335 horsepower, up 33 from the outgoing model. Torque is rated at 330 pound-feet, up 30 from the 2019 utility vehicle.

The 2020 BMW X6 Source: BMW

The sportier X6 M50i opts for a 4.4-liter TwinPower turbocharged eight-cylinder engine. It bumps the numbers up to 523 horsepower, or 78 more than before, and 553 pound-feet of torque, up 74. The “M” model also gets a sport exhaust system. It can hammer from 0 to 60 in 4.1 seconds, a half-second quicker than the 2019 X6. All versions share an eight-speed automatic that is paired with an onboard navigation system and the active cruise control radar sensor. That lets the gearbox shift proactively, for example, downshifting ahead of corners and hills.


Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: paul a eisenstein
Keywords: news, cnbc, companies, utility, market, bmw, major, crossover, system, models, redesign, vehicle, 2020, source, makeover, model, trendsetting, gives, x6


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post