Gymboree brand will stage a comeback in 2020 thanks to Children’s Place

The Gymboree clothing brand for boys and girls will be back online and in some stores next year, thanks to The Children’s Place. The Children’s Place had paid $76 million for the rights associated with both Gymboree and its Crazy 8 brand earlier this year, after Gymboree filed for bankruptcy protection back in January. On Tuesday morning, The Children’s Place announced in a press release it will relaunch Gymboree.com in 2020 and add Gymboree shops inside 200 of its stores across the U.S. and Can


The Gymboree clothing brand for boys and girls will be back online and in some stores next year, thanks to The Children’s Place. The Children’s Place had paid $76 million for the rights associated with both Gymboree and its Crazy 8 brand earlier this year, after Gymboree filed for bankruptcy protection back in January. On Tuesday morning, The Children’s Place announced in a press release it will relaunch Gymboree.com in 2020 and add Gymboree shops inside 200 of its stores across the U.S. and Can
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Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: lauren thomas
Keywords: news, cnbc, companies, rights, place, childrens, comeback, stores, 2020, kids, gymboree, stage, parents, brand, market, gymboreecom, thanks


Gymboree brand will stage a comeback in 2020 thanks to Children's Place

The Gymboree clothing brand for boys and girls will be back online and in some stores next year, thanks to The Children’s Place.

The Children’s Place had paid $76 million for the rights associated with both Gymboree and its Crazy 8 brand earlier this year, after Gymboree filed for bankruptcy protection back in January. At the time, Gymboree had 800 locations, all of which shuttered. It marked the second time Gymboree had gone bankrupt in under two years.

On Tuesday morning, The Children’s Place announced in a press release it will relaunch Gymboree.com in 2020 and add Gymboree shops inside 200 of its stores across the U.S. and Canada.

“The goal is to provide a Gymboree brand experience that reconnects mom to the branded product that she love,” Claudia Lima-Guinehut, senior vice president of global merchandising for The Children’s Place, said in a statement.

The Children’s Place said it will launch a new loyalty program for Gymboree customers as well, and that shoppers will be able to order from both Gymboree.com and TheChildrensPlace.com using a shared shopping cart.

Gymboree’s liquidation had presented parents with a more fragmented landscape to shop for kids clothing.

Target had been gaining market share with its private labels, while Gap was also winning more parents, having acquired the rights to Janie & Jack, which sells kids clothing a bit more on the pricier side.

Shares of The Children’s Place have fallen more than 16% this year. The company has a market cap of about $1.2 billion.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: lauren thomas
Keywords: news, cnbc, companies, rights, place, childrens, comeback, stores, 2020, kids, gymboree, stage, parents, brand, market, gymboreecom, thanks


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Trump is on his way to an easy win in 2020, according to Moody’s accurate election model

President Donald Trump looks likely to cruise to reelection next year under three different economic models Moody’s Analytics employed to gauge the 2020 race. Three models show Trump getting at least 289 electoral votes, assuming average turnout. In the stock market model, Trump gets a 289-249 edge, while the unemployment model shows a 332-206 advantage. Across all three models, Trump wins 324-214. Trump doesn’t even have to win the county, but merely needs a strong turnout, Zandi said.


President Donald Trump looks likely to cruise to reelection next year under three different economic models Moody’s Analytics employed to gauge the 2020 race. Three models show Trump getting at least 289 electoral votes, assuming average turnout. In the stock market model, Trump gets a 289-249 edge, while the unemployment model shows a 332-206 advantage. Across all three models, Trump wins 324-214. Trump doesn’t even have to win the county, but merely needs a strong turnout, Zandi said.
Trump is on his way to an easy win in 2020, according to Moody’s accurate election model Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: jeff cox
Keywords: news, cnbc, companies, zandi, win, trumps, easy, 2020, accurate, model, way, models, victory, moodys, trump, election, market, president, according, turnout


Trump is on his way to an easy win in 2020, according to Moody's accurate election model

President Donald Trump speaks during a meeting with China’s Vice Premier Liu He in the Oval Office at the White House after two days of trade negotiations in Washington, October 11, 2019.

The modeling has been highly accurate going back to the 1980 election, missing only once.

Moody’s based its projections on how consumers feel about their own financial situation, the gains the stock market has achieved during Trump’s tenure and the prospects for unemployment, which has fallen to a 50-year low . Should those variables hold up, the president looks set to get another four-year term.

Barring anything unusual happening, the president’s Electoral College victory could easily surpass his 2016 win over Democrat Hillary Clinton, which came by a 304-227 count.

President Donald Trump looks likely to cruise to reelection next year under three different economic models Moody’s Analytics employed to gauge the 2020 race.

“If the economy a year from now is the same as it is today, or roughly so, then the power of incumbency is strong and Trump’s election odds are very good, particularly if Democrats aren’t enthusiastic and don’t get out to vote,” said Mark Zandi, chief economist at Moody’s Analytics and co-author of the paper along with Dan White, the firm’s director of government counsulting and fiscal policy research, and Bernard Yaros, an assistant director and economist. “It’s about turnout.”

Three models show Trump getting at least 289 electoral votes, assuming average turnout. His chances decrease with maximum turnout on the Democratic side and increase with minimum turnout expected.

Of the three models, he does best under the “pocketbook” measure of how people feel about their finances. In that scenario, assuming average nonincumbent turnout, he gets 351 electoral votes to the generic Democrat’s 187. “Record turnout is vital to a Democratic victory,” the report said.

In the stock market model, Trump gets a 289-249 edge, while the unemployment model shows a 332-206 advantage. Across all three models, Trump wins 324-214.

“Our ‘pocket¬book’ model is the most economically driven of the three. If voters were to vote primarily on the basis of their pocketbooks, the president would steamroll the competition,” the report said. “This shows the importance that prevailing economic sentiment at the household level could hold in the next election.”

Stock market levels also are key, and the two are intertwined. Zandi said that even a garden-variety 12% market correction around election time could sway the race, as could an unexpected downturn in the economy.

The results might come as a surprise given Trump’s consistently low favorability ratings — 40% in the latest Gallup poll — and as most head-to-head matchups against Democrats show the president losing.

However, the report said that Trump’s relatively stable ratings help provide a good benchmark for how he will do once election time comes.

Zandi said the race could come down a few key counties in Pennsylvania, which Trump flipped in 2016 after the state had voted Democrat in the previous five presidential elections.

Specifically, he said Luzerne County, in the northeast part of the state, “is the single-most important county, no kidding, in the entire election.” The longtime Democratic stronghold favored Trump, 51.8% to 46.8% in the election.

Trump doesn’t even have to win the county, but merely needs a strong turnout, Zandi said.

The Moody’s models have been backtested to 1980 and were correct each time — except in 2016, when it indicated Clinton would win a narrow victory. The authors attributed “unexpected turnout patterns” in Trump’s favor caused the error and they adjusted for that in the latest projections. They also said the will be updating the projections as conditions develop and change.

WATCH: Josh Brown on what Trump’s tax bill means for your money


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: jeff cox
Keywords: news, cnbc, companies, zandi, win, trumps, easy, 2020, accurate, model, way, models, victory, moodys, trump, election, market, president, according, turnout


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Lower mortgage rates are causing an epic housing shortage

Then a sharp drop in rates this summer brought demand back and has depleted that supply dramatically. Roughly five million mostly entry-level homes have been turned into single-family rentals, and strong demand for those rentals means investors are unlikely to put the homes up for sale anytime soon. The demand is being fueled by lower mortgage rates. Demand also surged in the move-up market, causing supplies there to fall as well. The supply of homes priced between $200,000 and $750,000, which m


Then a sharp drop in rates this summer brought demand back and has depleted that supply dramatically. Roughly five million mostly entry-level homes have been turned into single-family rentals, and strong demand for those rentals means investors are unlikely to put the homes up for sale anytime soon. The demand is being fueled by lower mortgage rates. Demand also surged in the move-up market, causing supplies there to fall as well. The supply of homes priced between $200,000 and $750,000, which m
Lower mortgage rates are causing an epic housing shortage Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, summer, inventory, epic, lower, homes, rates, housing, surged, supply, demand, sales, market, rentals, mortgage, shortage, strong, causing


Lower mortgage rates are causing an epic housing shortage

Anyone out hunting for an affordable home today knows that the pickings are slim – and they are about to get slimmer.

Housing inventory hit a record low about two years ago, but a lull in home sales over the past year helped build back much-needed supply, especially in the mid-priced range. Then a sharp drop in rates this summer brought demand back and has depleted that supply dramatically.

National housing inventory fell 2.5% annually in September, a sharper decline than August’s 1.8% decrease, according to realtor.com

Supply has always been leanest on the low end, as investors have been very active in that price range since the foreclosure crisis.

Roughly five million mostly entry-level homes have been turned into single-family rentals, and strong demand for those rentals means investors are unlikely to put the homes up for sale anytime soon.

In addition, an unseasonably strong surge in demand at the end of summer and into this fall now has the supply of homes priced below $200,000 down 10% compared with a year ago.

The demand is being fueled by lower mortgage rates. The average rate on the 30-year fixed surged over 5% last November and stayed above 4.5% through March, according to Mortgage News Daily. That made for a lackluster spring housing market, traditionally the busiest time for buying.

Rates then began falling in May and particularly sharply in July and August. By the start of September the average rate was around 3.5%, and sales of both new and existing homes were surging back. Clearly there was substantial pent-up demand from the spring.

Demand also surged in the move-up market, causing supplies there to fall as well. The supply of homes priced between $200,000 and $750,000, which make up 60% of the market, flat-lined in September, after 18 months of strong inventory growth. Supply is now expected to decline in the months ahead.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, summer, inventory, epic, lower, homes, rates, housing, surged, supply, demand, sales, market, rentals, mortgage, shortage, strong, causing


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Four ways to not outlive your retirement savings

Twenty20With some experts warning that $1 million in retirement savings might not even do the trick these days, it’s understandable if you’re kept up at night wondering: Will I have enough? Below are some time-tested ways to spend your retirement savings. “Every individual’s needs are different and it’s likely that their annual spending will fluctuate throughout retirement,” Jaconetti said. “These could also be called a short-term bucket and a long-term bucket,” Beyrer said. The withdrawal bucke


Twenty20With some experts warning that $1 million in retirement savings might not even do the trick these days, it’s understandable if you’re kept up at night wondering: Will I have enough? Below are some time-tested ways to spend your retirement savings. “Every individual’s needs are different and it’s likely that their annual spending will fluctuate throughout retirement,” Jaconetti said. “These could also be called a short-term bucket and a long-term bucket,” Beyrer said. The withdrawal bucke
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Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: annie nova
Keywords: news, cnbc, companies, savings, strategy, outlive, jaconetti, retirees, spending, retirement, beyrer, ways, withdrawal, market, bucket


Four ways to not outlive your retirement savings

A man fishes in a lake. Twenty20

With some experts warning that $1 million in retirement savings might not even do the trick these days, it’s understandable if you’re kept up at night wondering: Will I have enough? Here’s another question worth asking: How should I spend what I have? A good answer to the latter can help you with the former. Whether your nest egg is $1 million, $250,000, more or less, you’ll need to devise a smart strategy of how to spend your money so that you don’t outlive your savings. “Withdrawing too much money early in your retirement can have a devastating effect on your standard of living,” said Arielle O’Shea, a retirement and investing expert at personal finance website Nerdwallet. On the other hand, O’Shea said, you don’t want to be led by fear. “Being too conservative could mean you don’t enjoy these years you’ve worked so hard for,” she said. Below are some time-tested ways to spend your retirement savings.

Davids’ Adventures Photos | Moment | Getty Images

The 4% rule

Most experts agree that retirees will need a portion of their savings still invested in the stock market, where returns are typically higher in the long run than those produced by bonds or certificates of deposit. Even so, not all nest eggs will be able to endure a 4% annual drain. And for those with really large savings, the 4% rule could leave you living more frugally than you need to. “The goal is not to die the richest person in the graveyard,” said Allan Roth, CFP and founder of financial advisory firm Wealth Logic in Colorado Springs, Colorado. Another issue with this tool? It’s awfully rigid, said Colleen Jaconetti, senior investment analyst at Vanguard. There are a number of factors that can make your budget vary from one year to the next, including health care and travel expenses and when you claim Social Security. “Every individual’s needs are different and it’s likely that their annual spending will fluctuate throughout retirement,” Jaconetti said.

John Foxx | Stockbyte | Getty Images

Dynamic spending

Some retirees prefer a dynamic spending strategy, which “provides retirees with the flexibility to account for unexpected expenses or rocky market conditions,” Jaconetti said. With this technique, you might still begin your retirement at a 4% withdrawal, but you can also establish a withdrawal “ceiling” and “floor” rate — the most and least you’ll take out in a given year. For example, say you have a $1 million nest egg. Your maximum annual withdrawal might be 5%, and your minimum could be 2.5%. “One of the drawbacks of the 4% rule is that annual withdrawals from the portfolio are indifferent to the returns of the capital markets,” Jaconetti said. The dynamic spending strategy, she said, offers an antidote. For example, if the market dropped 20% in a year, a retiree might slash spending by a fifth for a few years. Or he or she could permanently cut spending by a smaller percentage, say 3%. “In short, this rule helps retirees maintain income for basic expenses while allowing for more discretionary income if market returns are favorable,” Jaconetti said. The strategy might be unnecessary for retirees who really do anticipate a consistent overhead.

PM Images | Stone | Getty Images

The bucket method

A third spending tool is the bucket strategy, which divides your retirement savings into segments, said Jon Beyrer, CFP and director of wealth management at Blankinship & Foster in Solana Beach, California. He says there are typically two buckets: one for withdrawal, one for growth. “These could also be called a short-term bucket and a long-term bucket,” Beyrer said. The withdrawal bucket should have enough to cover your annual expenses for a set period of time. For example, if a retiree needs to take out $50,000 a year, and they want the money to cover five years, the bucket should have at least $250,000. “The withdrawal bucket will typically be invested in low-risk, highly liquid investments such as high-grade bonds and money market funds,” Beyrer said.

The timeline with this strategy is less overwhelming than with the 4% rule, Beyrer said. “By having rules about how many years worth of spending should be in the withdrawal bucket, the retiree is more tuned into what their withdrawals need to be,” he said. The other bucket will be for long-term growth. “The investments in this bucket can include higher-risk, more volatile investments such as stocks,” he said. It’ll be important for retirees to strike a balance between the two buckets, to make sure they’re not being too conservative or too risky. The strategy can also get complicated fast. You might have more than two buckets: one for emergency savings, or one for children and grandchildren. “Lifestyle buckets like travel or philanthropy force some discipline on how much to spend on those items,” Beyrer said. A big advantage of the strategy, he said, is that it reduces people’s risk of making regrettable moves with their savings. “When a retiree knows their withdrawal bucket is secure, it’s easier not to panic in the face of bad stock market news,” Beyrer said. “It gives retirees peace of mind.”

The RMD method


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: annie nova
Keywords: news, cnbc, companies, savings, strategy, outlive, jaconetti, retirees, spending, retirement, beyrer, ways, withdrawal, market, bucket


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Adidas and Nike supply tactics are an abuse of market dominance, British retail giant says

The sales and supply strategies of big sports brands such as Adidas and Nike should face government investigations, U.K. retail giant Sports Direct claimed. In a statement on Monday, the British firm accused global sports apparel brands of abusing their dominance in the market by constantly chopping and changing the availability of their products to retailers. “These ‘must have’ brands hold an extremely strong bargaining position vis-a-vis the retailers within their supply networks and use their


The sales and supply strategies of big sports brands such as Adidas and Nike should face government investigations, U.K. retail giant Sports Direct claimed. In a statement on Monday, the British firm accused global sports apparel brands of abusing their dominance in the market by constantly chopping and changing the availability of their products to retailers. “These ‘must have’ brands hold an extremely strong bargaining position vis-a-vis the retailers within their supply networks and use their
Adidas and Nike supply tactics are an abuse of market dominance, British retail giant says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: chloe taylor
Keywords: news, cnbc, companies, wide, abuse, dominance, statement, tactics, supply, adidas, brands, direct, retailers, british, products, market, retail, regularly, nike, giant


Adidas and Nike supply tactics are an abuse of market dominance, British retail giant says

The sales and supply strategies of big sports brands such as Adidas and Nike should face government investigations, U.K. retail giant Sports Direct claimed.

In a statement on Monday, the British firm accused global sports apparel brands of abusing their dominance in the market by constantly chopping and changing the availability of their products to retailers.

“These ‘must have’ brands hold an extremely strong bargaining position vis-a-vis the retailers within their supply networks and use their market power to implement market wide practices aimed at controlling the supply and, ultimately, the pricing of their products,” the company claimed.

Sports Direct said Adidas and other big brands regularly employed an array of unfair trade practices, such as “segmentation policies” that restricted the range of products available to retailers, the withdrawal of the supply of products, and in most cases, “an outright refusal to supply.”

The retailer added that brands had regularly withdrawn its supply of key products, such as soccer merchandise, or refused to supply key products with no justification.

“Sports Direct believes that the industry as a whole would benefit from a wide market review by the appropriate authorities in both the U.K. and Europe,” the statement said.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: chloe taylor
Keywords: news, cnbc, companies, wide, abuse, dominance, statement, tactics, supply, adidas, brands, direct, retailers, british, products, market, retail, regularly, nike, giant


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China says it bought 700,000 tonnes each of pork, sorghum from the US in 2019

General Joseph Dunford (L), chairman of the US Joint Chiefs of Staff, and Chief of the General Staff of the Chinese People’s Liberation Army General Fang Fenghui shake hands after signing an agreement at the Bayi Building in Beijing on August 15, 2017. Chinese firms have already purchased 700,000 tonnes of pork and 700,000 tonnes of sorghum from the United States this year to meet market demand, said a foreign ministry spokesman on Tuesday. China, the world’s top agriculture market, has also bou


General Joseph Dunford (L), chairman of the US Joint Chiefs of Staff, and Chief of the General Staff of the Chinese People’s Liberation Army General Fang Fenghui shake hands after signing an agreement at the Bayi Building in Beijing on August 15, 2017. Chinese firms have already purchased 700,000 tonnes of pork and 700,000 tonnes of sorghum from the United States this year to meet market demand, said a foreign ministry spokesman on Tuesday. China, the world’s top agriculture market, has also bou
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China says it bought 700,000 tonnes each of pork, sorghum from the US in 2019

General Joseph Dunford (L), chairman of the US Joint Chiefs of Staff, and Chief of the General Staff of the Chinese People’s Liberation Army General Fang Fenghui shake hands after signing an agreement at the Bayi Building in Beijing on August 15, 2017.

Chinese firms have already purchased 700,000 tonnes of pork and 700,000 tonnes of sorghum from the United States this year to meet market demand, said a foreign ministry spokesman on Tuesday.

China, the world’s top agriculture market, has also bought 320,000 tonnes of cotton, 230,000 tonnes of wheat and 20 million tonnes of soybeans from the U.S., spokesman Geng Shuang said at a daily press briefing.

The comments came amid heightened attention on China’s purchases of U.S. farm goods, one of President Donald Trump’s key demands to resolve a months-long trade war between the two nations.

Trump said on Friday that China had agreed to purchase $40 to $50 billion worth of agricultural goods from the U.S. in a first phase of an agreement to end the trade war.

China has already brought in 500,000 tonnes of sorghum in the first eight months of the year, almost all from the United States, according to customs data.


Company: cnbc, Activity: cnbc, Date: 2019-10-15
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This popular trade is making bull Art Hogan ‘nervous’ as earnings begin

National Securities’ Art Hogan predicts third-quarter earnings results will exceed expectations. “I’m nervous about the defensive groups actually because they’re such a popular trade,” the firm’s chief market strategist told CNBC’s “Trading Nation” on Monday. However, as big money piled into defensive names, valuations began surging. “Earnings and multiples are going to disappoint as we work our way through earnings season.” Hogan expects technology, particularly software and momentum names, and


National Securities’ Art Hogan predicts third-quarter earnings results will exceed expectations. “I’m nervous about the defensive groups actually because they’re such a popular trade,” the firm’s chief market strategist told CNBC’s “Trading Nation” on Monday. However, as big money piled into defensive names, valuations began surging. “Earnings and multiples are going to disappoint as we work our way through earnings season.” Hogan expects technology, particularly software and momentum names, and
This popular trade is making bull Art Hogan ‘nervous’ as earnings begin Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: stephanie landsman
Keywords: news, cnbc, companies, consumer, trade, begin, defensive, theyre, names, nervous, popular, multiples, probably, hogan, earnings, bull, making, market, art


This popular trade is making bull Art Hogan 'nervous' as earnings begin

National Securities’ Art Hogan predicts third-quarter earnings results will exceed expectations.

However, his forecast leaves out a crowded area of the market.

“I’m nervous about the defensive groups actually because they’re such a popular trade,” the firm’s chief market strategist told CNBC’s “Trading Nation” on Monday. “The multiples for some of those consumer staples and utilities and real estate investment trusts are really high.”

As global slowdown risks rose this year, so did the defensive trade’s popularity. Investors assume they’re more protected from downside by buying stocks that are known to provide dividends and stable earnings.

However, as big money piled into defensive names, valuations began surging. Hogan believes they have no capability of growing with the multiples given by investors.

“There’s a level of disappointment that probably comes,” added Hogan, who’s responsible for $15 billion in assets under management. “Earnings and multiples are going to disappoint as we work our way through earnings season.”

He speculates that the more economically sensitive areas of the stock market will surprise investors and emerge as the big winners this season.

“The expectation set is so low coming into this earnings season because of the macro news. It doesn’t necessarily fit the earnings picture,” said Hogan.

Refinitiv data shows a 3.2% drop in earnings per share in the third quarter. That number will change as companies report their quarterly results.

Hogan expects technology, particularly software and momentum names, and consumer discretionary companies will deliver the most upside.

“There are certain brand leaders in the consumer discretionary space that are probably going to outperform,” said Hogan, who doesn’t see evidence that U.S.-China trade war tariffs are challenging consumers right now.

Hogan’s year-end S&P 500 price target is 4.5% higher the current levels.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: stephanie landsman
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Amid trade war, China moves to remove limits on foreign ownership in the financial industry

The China Securities Regulatory Commission on Friday released a time frame for removing limits to foreign stakes in futures, mutual fund and securities companies. The plan, set to roll out in January, would give foreign companies full ownership. Last year, the commission began to allow some foreign financial entities to increase their minority stake to a majority 51%. “This latest announcement enhances competition and enables all market players to bring compelling offerings to the Chinese market


The China Securities Regulatory Commission on Friday released a time frame for removing limits to foreign stakes in futures, mutual fund and securities companies. The plan, set to roll out in January, would give foreign companies full ownership. Last year, the commission began to allow some foreign financial entities to increase their minority stake to a majority 51%. “This latest announcement enhances competition and enables all market players to bring compelling offerings to the Chinese market
Amid trade war, China moves to remove limits on foreign ownership in the financial industry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: evelyn cheng
Keywords: news, cnbc, companies, foreign, 2020, securities, china, remove, companies, ownership, war, financial, chinese, market, futures, industry, trade, moves, limits


Amid trade war, China moves to remove limits on foreign ownership in the financial industry

SHANGHAI, CHINA – FEBRUARY 23: The Chinese flag floats before the skyscrapers of multinational corporations on February 23, 2018 in Shanghai, China. Vincent Isore/IP3 | Getty Images

BEIJING — China is pressing ahead with opening up its financial industry to foreign ownership amid worries that the U.S. and China could grow further apart due to ongoing trade tensions. The China Securities Regulatory Commission on Friday released a time frame for removing limits to foreign stakes in futures, mutual fund and securities companies. The plan, set to roll out in January, would give foreign companies full ownership. Last year, the commission began to allow some foreign financial entities to increase their minority stake to a majority 51%. “Chinese regulators continue to move forward with constructive reforms to the domestic funds management landscape,” a spokesperson for Invesco said in a statement. “This latest announcement enhances competition and enables all market players to bring compelling offerings to the Chinese market.”

One of the U.S. complaints in trade tensions with China is that many Chinese industries are closed to foreign firms or dominated by state-owned entities, making it difficult for American companies to compete on even ground with their Chinese counterparts. The dispute between the world’s two largest economies has increased pressure on cross-border business, with the application of tariffs on billions of dollars’ worth of goods from both countries. The U.S. also placed several major Chinese technology companies on a blacklist that effectively bars them from doing business with American suppliers. But China would like to attract more foreign capital to its markets and help the local financial industry mature. The opening of its financial markets “will help promote the internationalization of China’s futures market, increase its international influence, and help it become an international pricing center for commodities,” Yanghui Cao, deputy director of the Hangzhou-based Nanhua Futures Research Institute, said in a Chinese statement translated by CNBC. Cao also pointed out that international markets have relatively greater experience with derivative products, and the entrance of such foreign players to the Chinese market will increase local competition.

Impact of trade tensions

The time frame announced Friday will be rolled out over 2020. If companies can get needed approvals and business licenses, the move will come close to matching Chinese Premier Li Keqiang’s announcement in September last year, when he said he hoped that “in three years’ time, there will be a number of foreign ventures qualified for full-license, full-ownership operation in the financial sector.” Jan. 1, 2020 — Futures companies April 1, 2020 — Mutual fund management companies Dec. 1, 2020 — Securities companies In July this year, Li also said China would lift restrictions on foreign ownership of securities, futures and life insurance firms by 2020 — a year earlier than previously planned. “What’s noticeable is the fast implementation schedule of the timetable. This could imply that the trade war negotiation is having some pressure on Chinese policy making,” Tianjun Wu, deputy economist at The Economist Intelligence Unit, said in an email.

This is the ultimate realization of China’s commitment of market opening to foreign players. Ray Chou partner at Oliver Wyman

China has been slow to open its domestic market to foreign players, often waiting until local companies have had time to grow large enough. The foreign complaint is that while a homegrown Chinese payments processing company like UnionPay has been able to expand rapidly overseas, Visa and Mastercard still face challenges in accessing China. In late September, PayPal said it became the first foreign payment platform to be licensed to provide online payment services in China. Last November, American Express received approval for a joint-venture application for clearing bank card transactions. Other foreign companies are waiting to jump on next year’s opportunity to tap China’s financial markets. Fidelity International — the now independent overseas arm of the U.S. asset management giant — said in a statement it “looks forward to bringing our exceptional investment research capabilities to Chinese investors. Leveraging our strong presence of over 1,000 staff in China, we will be ready to make the foreign (asset management corporation) license application in due course.”


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: evelyn cheng
Keywords: news, cnbc, companies, foreign, 2020, securities, china, remove, companies, ownership, war, financial, chinese, market, futures, industry, trade, moves, limits


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Here’s what happened to the stock market on Monday

Dow Jones Industrial Average falls 29 pointsThe Dow fell 29.23 points, or 0.11% to close at 26,787.36. Trade deal or no deal? This tempered the market’s enthusiasm after President Donald Trump said Friday that both sides had reached a “very substantial phase one deal.” Adding to the trade-related concerns was Treasury Secretary Steven Mnuchin saying the deal was still “subject to documentation.” He also said a December tariff hike on Chinese products would go through if a deal is not reached.


Dow Jones Industrial Average falls 29 pointsThe Dow fell 29.23 points, or 0.11% to close at 26,787.36. Trade deal or no deal? This tempered the market’s enthusiasm after President Donald Trump said Friday that both sides had reached a “very substantial phase one deal.” Adding to the trade-related concerns was Treasury Secretary Steven Mnuchin saying the deal was still “subject to documentation.” He also said a December tariff hike on Chinese products would go through if a deal is not reached.
Here’s what happened to the stock market on Monday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: fred imbert
Keywords: news, cnbc, companies, valuation, happened, upgradeshares, market, wants, worries, heres, upgraded, underperform, trump, deal, phase, stock, dow


Here's what happened to the stock market on Monday

Dow Jones Industrial Average falls 29 points

The Dow fell 29.23 points, or 0.11% to close at 26,787.36. The S&P 500 slipped 0.14% to 2,966.15. The Nasdaq Composite pulled back 0.10% to 8,048.65. The indexes traded in a tight range throughout the session as investors looked ahead to the start of the earnings season while grappling with new worries over trade.

Trade deal or no deal?

A source told CNBC that China wants to have additional talks with the U.S. before signing the first phase of a potential trade deal with the U.S. Bloomberg News first reported the news. This tempered the market’s enthusiasm after President Donald Trump said Friday that both sides had reached a “very substantial phase one deal.” Adding to the trade-related concerns was Treasury Secretary Steven Mnuchin saying the deal was still “subject to documentation.” He also said a December tariff hike on Chinese products would go through if a deal is not reached.

HPE gets boost from upgrade

Shares of Hewlett Packard Enterprise rose more than 4% after an analyst at Evercore ISI upgraded them to in line from underperform, citing an attractive valuation and good cash flow, among other positive catalysts.

What happens next?


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: fred imbert
Keywords: news, cnbc, companies, valuation, happened, upgradeshares, market, wants, worries, heres, upgraded, underperform, trump, deal, phase, stock, dow


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San Francisco business trip? How to make the most of those off-duty hours

Source: San Francisco Travel AssociationSan Francisco is not only one of the country’s most visited cities, since the days of the Gold Rush, it’s been a major center for innovation. “Known for a time as ‘Wall Street of the West,’ San Francisco was and is also a financial powerhouse.” arah Cain, We Will Walk Right Up To The Sun, courtesy City and County of San Francisco. Day-use rooms: start at $125 for six hours between 8 a.m. and 8 p.m.Head to townFerry Plaza Farmers Market Source: San Francisc


Source: San Francisco Travel AssociationSan Francisco is not only one of the country’s most visited cities, since the days of the Gold Rush, it’s been a major center for innovation. “Known for a time as ‘Wall Street of the West,’ San Francisco was and is also a financial powerhouse.” arah Cain, We Will Walk Right Up To The Sun, courtesy City and County of San Francisco. Day-use rooms: start at $125 for six hours between 8 a.m. and 8 p.m.Head to townFerry Plaza Farmers Market Source: San Francisc
San Francisco business trip? How to make the most of those off-duty hours Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-13  Authors: harriet baskas
Keywords: news, cnbc, companies, hotel, sfo, rooms, market, offduty, hours, transit, source, trip, francisco, park, san, business, salesforce


San Francisco business trip? How to make the most of those off-duty hours

Source: San Francisco Travel Association

San Francisco is not only one of the country’s most visited cities, since the days of the Gold Rush, it’s been a major center for innovation. “This is the city that inspired the creation of television, the Murphy bed and more,” said Joe D’Alessandro, president and CEO, San Francisco Travel. “Known for a time as ‘Wall Street of the West,’ San Francisco was and is also a financial powerhouse.” Much of that financial power is now wrapped up in technology, with companies such as Twitter, Uber, Airbnb, Pinterest, Dropbox, Salesforce and others calling San Francisco home. “Medicine and technology also thrive and intertwine in the city’s Mission Bay neighborhood and throughout the region,” D’Alessandro added. “Taking on the biggest challenges to the human condition.” If you find yourself in town to meet with one of these companies or a tiny start-up poised to disrupt, here are few ways to make the most of your off-duty hours in the City by the Bay.

Fresh fly-in convenience

Grand Hyatt at SFO Source: SFO Airport

With the recent opening of the 12-story Grand Hyatt at SFO, San Francisco International Airport joins the ranks of major airports with a luxury hotel on property. It’s at least a half-hour journey from the airport to downtown SFO, so this new hotel is ideal for fly-in meetings and conferences and those times when you’ve got an in-town meeting and an early flight out the next day.

arah Cain, We Will Walk Right Up To The Sun, courtesy City and County of San Francisco. Photo: Randi Malkin Steinberger

The 351-room hotel has its own stained glass-adorned stop on the SFO AirTrain and tech-loaded meeting rooms with aviation-inspired names such as Supersonic, Stratocruiser and Astrojet. For on-site dining, Twin Crafts Market & Bar offers casual dining and a 24-hour market, while the Quail & Crane restaurant has a menu blending Northern California and Asian cuisine. Thanks to San Francisco’s 2% for Art program, the hotel is home to 16 major new works of art, including “Ether” by Japanese artist Kohei Nawa, a 35-foot outdoor sculpture that references weightlessness and the movement of airplanes.

Grand Hyatt at SFO. A room overlooking the SFO airfield. Source: Harriet Baskas

All rooms at the Grand Hyatt at SFO have soundproof, floor-to-ceiling windows. Rooms on one side of the hotel face the airfield of the International Terminal and each of those rooms is equipped with a handy airplane spotting guide and a loaner pair of binoculars. Rates: start at $329/night. Day-use rooms: start at $125 for six hours between 8 a.m. and 8 p.m.

Head to town

Ferry Plaza Farmers Market Source: San Francisco Travel Association

It is easy to get from the airport to downtown San Francisco. The 14-mile trip takes about 30 minutes via BART (Bay Area Rapid Transit) and the reloadable plastic Clipper Card you’ll need to board can also be used on city buses, streetcars and cable cars and on the Golden Gate Transit ferries. Due to highway traffic, the trip between SFO and downtown can take longer by car, van or limo. The San Francisco Travel Association has a handy guide that lists attractions within walking distance from major BART stations in the city. A good place to start is the landmark Ferry Building, which is along the Embarcadero at the foot of Market Street. To get there, get off BART at the Embarcadero Station. The marketplace inside the Ferry Building has coffee shops and wine bars, shops and restaurants, including Hog Island Oyster Company, Acme Bread Company, Cowgirl Creamery and Humphry Slocombe ice cream, among others. Grab a table or head outside to watch ferries come and go to Sausalito and other destinations. A farmers’ market operates adjacent to the building three days a week (Tuesdays, Thursdays and Sundays). Well-known attractions and tourist destinations are further up the Embarcadero, including Pier 39 (the Aquarium of the Bay, sea lions and more) and Fisherman’s Wharf, but less touristly options can be found nearby in the 24-block Chinatown neighborhood and the Sourth of Market/Yerba Buena neighborhood.

Chinatown Gate in San Francisco. Courtesy: SF Travel

Enter Chinatown through the ornate Dragon Gate (at Bush Street and Grant Avenue) and wander through shops, restaurants and the Chinese Historical Society of America Museum as you make your way to Ross Alley, home of the tiny Golden Gate Fortune Cookie Factory. Here you can watch as one or two cookie-makers snatch freshly baked flat cookie rounds off the cast-iron rotating griddle wheel and quickly fold in a paper fortune for one of the 10,000 hand-assembled fortune cookies made each day. Want a great souvenir? For $1 ($1.50 for 2) you can have your own message folded into a fortune cookie. In the South of Market/Yerba Buena neighborhood, home to the Moscone Convention Center and Yerba Buena Gardens, you’ll find more than two dozen museums and cultural attractions. Through Jan. 20, 2020, the 50th anniversary of the Apollo 11 Moon landing is the inspiration for an art, architecture and designed-centered exhibition at the San Francisco Museum of Modern Art (SFMOMA; admission: $25) titled “Far Out: Suits, Habs, and Labs for Outer Space.” Nearby, at the California Historical Society (admission $10), “From the Gold Rush to the Earthquake: Selections from the Collection” opens Oct. 26 with paintings, photographs, manuscripts and ephemera, exploring everything from the growth of agriculture and industry in the state to the history of San Francisco’s Chinatown district and the devasting 1906 earthquake and fires.

Source: Henrik Kam | SFMOMA

A few blocks away is one of the San Francisco’s newest public spaces: Salesforce Park. The 5.4-acre fourth-story rooftop oasis sits on top of the Salesforce Transit Center and adjacent to the Salesforce Tower, which is currently San Francisco’s tallest building.

Free gondola rides to and from Salesforce Park Source: Saleforce Transit Center

Four blocks long, the park has a lush walking path, tables and benches, play areas and a dancing fountain with 247 geysers triggered by the transit center’s bus traffic below. You can get to the park by stairs, escalators or elevators, but it’s far more entertaining to take the free gondola from the street.

Salesforce Park in San Francisco. Courtesy: Salesforce Transit Center

Eat and drink


Company: cnbc, Activity: cnbc, Date: 2019-10-13  Authors: harriet baskas
Keywords: news, cnbc, companies, hotel, sfo, rooms, market, offduty, hours, transit, source, trip, francisco, park, san, business, salesforce


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