UK government backs A.I. and data analytics projects with $16.79 million in funding

The U.K. has announced £13 million ($16.79 million) in funding for 40 artificial intelligence (AI) and data analytics projects. Business secretary Greg Clark said that AI and data were “transforming industries across the world.” According to one participant in the discussion, chaired by CNBC’s Steve Sedgwick, we’re still “way, way behind having thinking robots … that will do the work of humans.” “The key about AI is data,” Christopher A. Pissarides, professor of economics at the London School of


The U.K. has announced £13 million ($16.79 million) in funding for 40 artificial intelligence (AI) and data analytics projects. Business secretary Greg Clark said that AI and data were “transforming industries across the world.” According to one participant in the discussion, chaired by CNBC’s Steve Sedgwick, we’re still “way, way behind having thinking robots … that will do the work of humans.” “The key about AI is data,” Christopher A. Pissarides, professor of economics at the London School of
UK government backs A.I. and data analytics projects with $16.79 million in funding Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: anmar frangoul, gonin, istock, getty images
Keywords: news, cnbc, companies, backs, thinking, data, funding, world, way, professional, million, projects, pissarides, analytics, need, 1679, uk, ai


UK government backs A.I. and data analytics projects with $16.79 million in funding

The U.K. has announced £13 million ($16.79 million) in funding for 40 artificial intelligence (AI) and data analytics projects.

In an announcement at the end of last week, the government said that the investment would “support collaborative industry and research projects to develop the next-generation of professional services.”

Projects to receive funding include a “bot” that will use AI to offer answers to legal questions online and AI software that will analyse accounting data before suggesting ways that businesses can cut their spending through deals on water, gas and electricity bills.

Another project will use AI and voice recognition technology to “detect and interpret emotion and linguistics to assess the credibility of insurance claims.”

Business secretary Greg Clark said that AI and data were “transforming industries across the world.”

“We are combining our unique heritage in AI with our world beating professional services to put the U.K. at the forefront of these cutting-edge technologies and their application,” he added.

The topic of AI and its potential ramifications generates a great deal of debate and discussion. Last month, a CNBC-moderated panel at the World Economic Forum in Davos, Switzerland, looked at the topic.

According to one participant in the discussion, chaired by CNBC’s Steve Sedgwick, we’re still “way, way behind having thinking robots … that will do the work of humans.”

“The key about AI is data,” Christopher A. Pissarides, professor of economics at the London School of Economics, went on to explain. “You need to have very large amounts of data with AI, and then it’s programmed to interpret the data in certain ways.”

Using chess as an example, Pissarides said computers were “very good” at the game because there were masses of data on moves from the past. “But anything new, anything that you need to stretch the way you are thinking about something, it (AI) won’t be able to do,” he added.

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Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: anmar frangoul, gonin, istock, getty images
Keywords: news, cnbc, companies, backs, thinking, data, funding, world, way, professional, million, projects, pissarides, analytics, need, 1679, uk, ai


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European markets mixed amid US-China trade deal hopes; Wirecard shares jump 12%

Europe’s telecom stocks led the gains on Monday, up around 0.7 percent amid a flurry of rating upgrades. Switzerland’s Sunrise was among the top performers after Berenberg upgraded the stock to “buy” from “hold.” Shares of the company rose more than 2 percent. Looking at individual stocks, Germany’s Wirecard surged to the top of the European benchmark after financial watchdog BaFin issued a ban against establishing or increasing short positions in the company’s stock. Shares of the London-listed


Europe’s telecom stocks led the gains on Monday, up around 0.7 percent amid a flurry of rating upgrades. Switzerland’s Sunrise was among the top performers after Berenberg upgraded the stock to “buy” from “hold.” Shares of the company rose more than 2 percent. Looking at individual stocks, Germany’s Wirecard surged to the top of the European benchmark after financial watchdog BaFin issued a ban against establishing or increasing short positions in the company’s stock. Shares of the London-listed
European markets mixed amid US-China trade deal hopes; Wirecard shares jump 12% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: sam meredith
Keywords: news, cnbc, companies, buy, uschina, stocks, stock, deal, wirecard, trade, company, million, value, jump, shares, mixed, watchdog, upgrades, hopes, markets, european


European markets mixed amid US-China trade deal hopes; Wirecard shares jump 12%

Europe’s telecom stocks led the gains on Monday, up around 0.7 percent amid a flurry of rating upgrades. Switzerland’s Sunrise was among the top performers after Berenberg upgraded the stock to “buy” from “hold.” Shares of the company rose more than 2 percent.

Looking at individual stocks, Germany’s Wirecard surged to the top of the European benchmark after financial watchdog BaFin issued a ban against establishing or increasing short positions in the company’s stock. Shares of the firm jumped 12 percent on the news.

Meanwhile, soft drink bottler Coca-Cola HBC tumbled toward the bottom of the index. It comes after the company announced on Monday it would buy Serbian biscuit and confectionery maker Bambi for an enterprise value of 260 million euros ($294 million). Shares of the London-listed stock were under pressure during mid-morning deals.


Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: sam meredith
Keywords: news, cnbc, companies, buy, uschina, stocks, stock, deal, wirecard, trade, company, million, value, jump, shares, mixed, watchdog, upgrades, hopes, markets, european


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Manchester City’s millionaire soccer stars are in for a culture shock this weekend

English Premier League leaders Manchester City has a squad valued at over $1 billion and is still on course for an unprecedented quadruple of trophies this season, but this weekend it’s faced with an unusual challenge. For the fifth round of this season’s FA Cup, England’s major domestic cup competition, Manchester City has been drawn against Newport County. A team ranked 82 places below the reigning Premier League champions in the soccer standings. Manchester City announced record revenues of $


English Premier League leaders Manchester City has a squad valued at over $1 billion and is still on course for an unprecedented quadruple of trophies this season, but this weekend it’s faced with an unusual challenge. For the fifth round of this season’s FA Cup, England’s major domestic cup competition, Manchester City has been drawn against Newport County. A team ranked 82 places below the reigning Premier League champions in the soccer standings. Manchester City announced record revenues of $
Manchester City’s millionaire soccer stars are in for a culture shock this weekend Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: adam reed, catherine ivill getty images
Keywords: news, cnbc, companies, team, shock, league, millionaire, stars, city, premier, manchester, million, soccer, stadium, teams, citys, culture, newport, weekend


Manchester City's millionaire soccer stars are in for a culture shock this weekend

English Premier League leaders Manchester City has a squad valued at over $1 billion and is still on course for an unprecedented quadruple of trophies this season, but this weekend it’s faced with an unusual challenge.

For the fifth round of this season’s FA Cup, England’s major domestic cup competition, Manchester City has been drawn against Newport County. A team ranked 82 places below the reigning Premier League champions in the soccer standings.

The two teams operate on very different plains, with Manchester City breaking its transfer record last summer when it signed Riyad Mahrez for $76.8 million, while Newport has never paid even six figures for a player.

Manchester City announced record revenues of $639.9 million for last season, when it also became the first Premier League team to reach 100 points. By contrast Newport County had to be reformed 29 years ago and made a loss of $447,000 in April 2018.

Their vast differences also extend into the value of their kit deals as well. Manchester City is coming to the end of its $109 million six-year partnership with Nike, with a potential $64 million a year switch to Puma on the horizon for the 2019/20 campaign. For the past two season’s Newport has had its kit made by Thai company FBT, which produces attire for the national soccer teams of Laos and Cambodia.

Manchester City manager Pep Guardiola has coached in some of the most famous stadiums in the world, but he’ll possibly have never seen anything like Newport County’s home stadium of Rodney Parade.

The tiny 7,850 capacity stadium is considerably less than the 55,000 Manchester City’s Etihad Stadium can hold.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: adam reed, catherine ivill getty images
Keywords: news, cnbc, companies, team, shock, league, millionaire, stars, city, premier, manchester, million, soccer, stadium, teams, citys, culture, newport, weekend


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‘Million Dollar Listing’ agent Ryan Serhant: Buyers are ‘freaking out’ about Amazon ditching NYC

“I remember doing deals at $600 a square foot in Long Island City in 2009. Serhant thinks Long Island City can still prosper without Amazon. “I’ve always loved Long Island City. Eric Benaim, CEO of the Long Island City-based brokerage Modern Spaces, agreed. “Long Island City has been an exciting and hot neighborhood for the past 10 years, and it will continue to be a hot and exciting neighborhood.”


“I remember doing deals at $600 a square foot in Long Island City in 2009. Serhant thinks Long Island City can still prosper without Amazon. “I’ve always loved Long Island City. Eric Benaim, CEO of the Long Island City-based brokerage Modern Spaces, agreed. “Long Island City has been an exciting and hot neighborhood for the past 10 years, and it will continue to be a hot and exciting neighborhood.”
‘Million Dollar Listing’ agent Ryan Serhant: Buyers are ‘freaking out’ about Amazon ditching NYC Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: matthew j belvedere, don emmert, afp, getty images, karlheinz irlmeier
Keywords: news, cnbc, companies, amazon, freaking, really, island, city, nyc, ditching, sold, think, million, listing, search, york, buyers, square, ryan, serhant, dollar, long


'Million Dollar Listing' agent Ryan Serhant: Buyers are 'freaking out' about Amazon ditching NYC

New York State Sen. Michael Gianaris, a Democrat whose district includes Long Island City, defended his opposition in a separate CNBC interview on Friday, saying, “when they [Amazon] come in and take over a community like that, the community dies.”

Gianaris, along with other New York politicians including liberal firebrand Rep. Alexandria Ocasio-Cortez, opposed the $3 billion in incentives the city promised to pay Amazon to seal the deal in November over the dozens and dozens of other localities which were in the running for the project.

“The Amazon ‘boom,’ as we can call it, happened too quickly. And no one was really able to understand the benefits that that many jobs to the area would have brought to the locals,” said Serhant, who started his career in Long Island City.

“I remember doing deals at $600 a square foot in Long Island City in 2009. And everyone was so angry about it. They’re never going to get their money back,” he said. “I just resold an apartment that I sold for $900,000 in 2009 in October, so before the Amazon announcement, for $1.8 million.”

Serhant thinks Long Island City can still prosper without Amazon. “I’ve always loved Long Island City. I think it’s a great place for real estate investment.” He said apartments there go for about $200 per square foot less than in Manhattan.

Eric Benaim, CEO of the Long Island City-based brokerage Modern Spaces, agreed. He called Amazon’s change of plans “a shame” and said that “of course” if the company had stayed “it was going to be better.”

However, “we are still doing deals. Nothing has changed,” he said on “Power Lunch.” “Long Island City has been an exciting and hot neighborhood for the past 10 years, and it will continue to be a hot and exciting neighborhood.”

The brokerage sold 300 pre-construction units in two weeks after Amazon announced it was coming to town, but no one has called yet to back out, Benaim said. Closings aren’t expected for another eight to 10 months. “We’ll just have to wait and see, but I don’t think any of those will really leave,” he added.

Amazon, which does not plan to search for a replacement location, said it plans to move forward with its planned second half of its East Coast headquarters in Northern Virginia. Meanwhile, Nashville, Tennessee, which had won a smaller investment in the monthslong HQ2 search, will also remain on track.

— CNBC’s Michelle Fox contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: matthew j belvedere, don emmert, afp, getty images, karlheinz irlmeier
Keywords: news, cnbc, companies, amazon, freaking, really, island, city, nyc, ditching, sold, think, million, listing, search, york, buyers, square, ryan, serhant, dollar, long


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Mattel has worst day in nearly 20 years after undercutting analysts’ 2019 estimates

Toymaker Mattel had its worst trading day in nearly 20 years on Friday after the company posted weaker-than-expected full-year 2019 guidance during an analyst meeting in New York. The company said it expects adjusted EBITDA to be in a range of $350 million to $400 million for 2019, below analysts’ expectations of $551.6 million, according to FactSet data. The company also expects sales to be flat in 2019 when adjusted for currency. Mattel’s forecast comes after the company reported strong sales


Toymaker Mattel had its worst trading day in nearly 20 years on Friday after the company posted weaker-than-expected full-year 2019 guidance during an analyst meeting in New York. The company said it expects adjusted EBITDA to be in a range of $350 million to $400 million for 2019, below analysts’ expectations of $551.6 million, according to FactSet data. The company also expects sales to be flat in 2019 when adjusted for currency. Mattel’s forecast comes after the company reported strong sales
Mattel has worst day in nearly 20 years after undercutting analysts’ 2019 estimates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: sarah whitten
Keywords: news, cnbc, companies, nearly, toymaker, million, day, sales, analysts, york, toys, 2019, mattel, estimates, kreiz, undercutting, 20, worst, trading, company


Mattel has worst day in nearly 20 years after undercutting analysts' 2019 estimates

Toymaker Mattel had its worst trading day in nearly 20 years on Friday after the company posted weaker-than-expected full-year 2019 guidance during an analyst meeting in New York. Shares of the company finished the day down more than 18 percent.

The company said it expects adjusted EBITDA to be in a range of $350 million to $400 million for 2019, below analysts’ expectations of $551.6 million, according to FactSet data.

The company also expects sales to be flat in 2019 when adjusted for currency.

“Either they are super lowballing or the company is falling apart,” Linda Bolton Weiser, analyst at Davidson, told CNBC.

Shares of the company fell as low as 23 percent on Friday and trading was halted at least twice due to volatility.

Mattel’s forecast comes after the company reported strong sales during the fourth quarter of 2018 last week.

The toymaker has struggled previously with weak sales of iconic brands such as American Girl and Fisher-Price. In recent years, more children have gravitated toward video games and electronics instead of traditional toys. Mattel was also hit hard by the bankruptcy of Toys R Us.

Under CEO Ynon Kreiz, Mattel has embraced a two-pronged strategy aimed at turning around the troubled toymaker. To start, Kreiz has worked to cut $650 million in costs, a combination of laying off 2,200 workers and shuttering its New York office.

Kreiz has also hoped to revive sales by creating a film department to bring its famous toy properties to the big screen. In January, the company announced it had tapped Margot Robbie (“Suicide Squad,” “I, Tonya”) to play Barbie and revealed it would produce a live-action Hot Wheels film. On Friday, the company announced that it would also be producing an American Girl movie.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: sarah whitten
Keywords: news, cnbc, companies, nearly, toymaker, million, day, sales, analysts, york, toys, 2019, mattel, estimates, kreiz, undercutting, 20, worst, trading, company


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‘Million Dollar Listing’ agent Ryan Serhant: Buyers are ‘freaking out’ about Amazon ditching NYC

“I remember doing deals at $600 a square foot in Long Island City in 2009. Serhant thinks Long Island City can still prosper without Amazon. “I’ve always loved Long Island City. Eric Benaim, CEO of the Long Island City-based brokerage Modern Spaces, agreed. “Long Island City has been an exciting and hot neighborhood for the past 10 years, and it will continue to be a hot and exciting neighborhood.”


“I remember doing deals at $600 a square foot in Long Island City in 2009. Serhant thinks Long Island City can still prosper without Amazon. “I’ve always loved Long Island City. Eric Benaim, CEO of the Long Island City-based brokerage Modern Spaces, agreed. “Long Island City has been an exciting and hot neighborhood for the past 10 years, and it will continue to be a hot and exciting neighborhood.”
‘Million Dollar Listing’ agent Ryan Serhant: Buyers are ‘freaking out’ about Amazon ditching NYC Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: matthew j belvedere, don emmert, afp, getty images, karlheinz irlmeier
Keywords: news, cnbc, companies, amazon, freaking, really, island, city, nyc, ditching, sold, think, million, listing, search, york, buyers, square, ryan, serhant, dollar, long


'Million Dollar Listing' agent Ryan Serhant: Buyers are 'freaking out' about Amazon ditching NYC

New York State Sen. Michael Gianaris, a Democrat whose district includes Long Island City, defended his opposition in a separate CNBC interview on Friday, saying, “when they [Amazon] come in and take over a community like that, the community dies.”

Gianaris, along with other New York politicians including liberal firebrand Rep. Alexandria Ocasio-Cortez, opposed the $3 billion in incentives the city promised to pay Amazon to seal the deal in November over the dozens and dozens of other localities which were in the running for the project.

“The Amazon ‘boom,’ as we can call it, happened too quickly. And no one was really able to understand the benefits that that many jobs to the area would have brought to the locals,” said Serhant, who started his career in Long Island City.

“I remember doing deals at $600 a square foot in Long Island City in 2009. And everyone was so angry about it. They’re never going to get their money back,” he said. “I just resold an apartment that I sold for $900,000 in 2009 in October, so before the Amazon announcement, for $1.8 million.”

Serhant thinks Long Island City can still prosper without Amazon. “I’ve always loved Long Island City. I think it’s a great place for real estate investment.” He said apartments there go for about $200 per square foot less than in Manhattan.

Eric Benaim, CEO of the Long Island City-based brokerage Modern Spaces, agreed. He called Amazon’s change of plans “a shame” and said that “of course” if the company had stayed “it was going to be better.”

However, “we are still doing deals. Nothing has changed,” he said on “Power Lunch.” “Long Island City has been an exciting and hot neighborhood for the past 10 years, and it will continue to be a hot and exciting neighborhood.”

The brokerage sold 300 pre-construction units in two weeks after Amazon announced it was coming to town, but no one has called yet to back out, Benaim said. Closings aren’t expected for another eight to 10 months. “We’ll just have to wait and see, but I don’t think any of those will really leave,” he added.

Amazon, which does not plan to search for a replacement location, said it plans to move forward with its planned second half of its East Coast headquarters in Northern Virginia. Meanwhile, Nashville, Tennessee, which had won a smaller investment in the monthslong HQ2 search, will also remain on track.

— CNBC’s Michelle Fox contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: matthew j belvedere, don emmert, afp, getty images, karlheinz irlmeier
Keywords: news, cnbc, companies, amazon, freaking, really, island, city, nyc, ditching, sold, think, million, listing, search, york, buyers, square, ryan, serhant, dollar, long


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Amazon will pay $0 in federal taxes this year — and it’s partially thanks to Trump

And yet, Amazon’s federal tax bill this year: $0. In fact, Amazon is actually getting a federal tax refund of $129 million this year, due in part to a combination of tax credits and deductions. Sen. Bernie Sanders, I-Vt., who has criticized Amazon in the past for not paying higher federal taxes, took to Twitter on Thursday to point out that any Amazon Prime member paid more for that program’s annual fee ($119) than the company paid in federal taxes. Amazon reported its sizable federal refund in


And yet, Amazon’s federal tax bill this year: $0. In fact, Amazon is actually getting a federal tax refund of $129 million this year, due in part to a combination of tax credits and deductions. Sen. Bernie Sanders, I-Vt., who has criticized Amazon in the past for not paying higher federal taxes, took to Twitter on Thursday to point out that any Amazon Prime member paid more for that program’s annual fee ($119) than the company paid in federal taxes. Amazon reported its sizable federal refund in
Amazon will pay $0 in federal taxes this year — and it’s partially thanks to Trump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: tom huddleston jr, alex wong, getty images
Keywords: news, cnbc, companies, fact, paying, partially, tax, million, pay, report, thanks, trump, federal, refund, taxes, amazon, billion


Amazon will pay $0 in federal taxes this year — and it's partially thanks to Trump

Amazon is one of the world’s most valuable companies, valued at nearly $800 million, and the e-commerce giant pulled in $232.9 billion in global revenue in 2018.

And yet, Amazon’s federal tax bill this year: $0. For the second year in a row.

In fact, Amazon is actually getting a federal tax refund of $129 million this year, due in part to a combination of tax credits and deductions. This is despite the fact that Amazon nearly doubled its taxable income in 2018 to $11.2 billion, from $5.6 billion a year earlier.

In other words, Amazon is basically paying a -1 percent federal income tax rate this year after reportedly paying a federal rate of more than 11 percent between 2011 and 2016, according to The Week.

Sen. Bernie Sanders, I-Vt., who has criticized Amazon in the past for not paying higher federal taxes, took to Twitter on Thursday to point out that any Amazon Prime member paid more for that program’s annual fee ($119) than the company paid in federal taxes.

Prime has 100 million subscribers.

“Amazon pays all the taxes we are required to pay in the U.S. and every country where we operate, including paying $2.6 billion in corporate tax and reporting $3.4 billion in tax expense over the last three years,” an Amazon spokesperson said in a statement provided to CNBC Make It.

Amazon reported its sizable federal refund in a recent corporate filing for the company’s fourth-quarter earnings report. However, Amazon also notes in that filing that it will pay $756 million in total taxes this year, between state and international taxes.

A report this week from the Institute on Taxation and Economic Policy, or ITEP, a nonpartisan and nonprofit tax policy think tank, pointed out the fact that Amazon will not pay federal taxes for the second year in a row. In fact, last year, Amazon received an even larger refund, getting $137 million from the federal government.

One reason for Amazon’s nonexistent federal tax bill is the Tax Cuts and Jobs Act that Congress enacted in 2017, which lowered the statutory corporate tax rate from 35 percent to 21 percent. In addition to the lower tax rates for corporations, the new tax law also “failed to … close a slew of tax loopholes that allow profitable companies to routinely avoid paying federal and state income taxes on almost half of their profits,” ITEP senior fellow Matthew Gardner wrote in a report on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: tom huddleston jr, alex wong, getty images
Keywords: news, cnbc, companies, fact, paying, partially, tax, million, pay, report, thanks, trump, federal, refund, taxes, amazon, billion


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NBA stars James, Curry and Durant make more money off the court

For the fifth straight year, LeBron James is the highest-paid player in the NBA. Now in his 16th season with the league, James’ earnings for the 2018-2019 season total $88.7 million, according to Forbes’ list of the top 10 NBA earners. Looking at salary, bonuses and endorsement deals, Forbes found Stephen Curry and Kevin Durant to be the second and third highest-paid players in the NBA. Curry’s total earnings for the season come to $79.5 million and Durant’s earnings come to $65 million. In fact


For the fifth straight year, LeBron James is the highest-paid player in the NBA. Now in his 16th season with the league, James’ earnings for the 2018-2019 season total $88.7 million, according to Forbes’ list of the top 10 NBA earners. Looking at salary, bonuses and endorsement deals, Forbes found Stephen Curry and Kevin Durant to be the second and third highest-paid players in the NBA. Curry’s total earnings for the season come to $79.5 million and Durant’s earnings come to $65 million. In fact
NBA stars James, Curry and Durant make more money off the court Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: courtney connley, david liam kyle, getty images, jim mcisaac, gregory shamus, gregory shamus via getty
Keywords: news, cnbc, companies, list, nba, durant, million, highestpaid, earnings, total, season, court, money, players, stars, curry, forbes, james


NBA stars James, Curry and Durant make more money off the court

For the fifth straight year, LeBron James is the highest-paid player in the NBA.

Now in his 16th season with the league, James’ earnings for the 2018-2019 season total $88.7 million, according to Forbes’ list of the top 10 NBA earners.

Looking at salary, bonuses and endorsement deals, Forbes found Stephen Curry and Kevin Durant to be the second and third highest-paid players in the NBA. Curry’s total earnings for the season come to $79.5 million and Durant’s earnings come to $65 million.

These players are known for their incredible talent on the court. But it’s their strategic moves outside of basketball that have really led to their financial success. In fact, James, Curry and Durant are the only three players on the highest-paid list who make more money off the court than on it.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: courtney connley, david liam kyle, getty images, jim mcisaac, gregory shamus, gregory shamus via getty
Keywords: news, cnbc, companies, list, nba, durant, million, highestpaid, earnings, total, season, court, money, players, stars, curry, forbes, james


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RBS beats full-year profit expectations, warns of ‘heightened’ Brexit uncertainty

Royal Bank of Scotland has slightly beaten expectations by reporting a net income of £1.62 billion ($2.07 billion) for 2018 on Friday. Analysts were expecting a net income of £1.58 billion for the full-year, according to Reuters’ Eikon. In terms of quarterly performance, net income stood at £286 million versus £448 million in the third quarter. In the summer last year, the bank proposed its first dividend in 10 years. However, there are significant concerns over Brexit and the future of the U.K.


Royal Bank of Scotland has slightly beaten expectations by reporting a net income of £1.62 billion ($2.07 billion) for 2018 on Friday. Analysts were expecting a net income of £1.58 billion for the full-year, according to Reuters’ Eikon. In terms of quarterly performance, net income stood at £286 million versus £448 million in the third quarter. In the summer last year, the bank proposed its first dividend in 10 years. However, there are significant concerns over Brexit and the future of the U.K.
RBS beats full-year profit expectations, warns of ‘heightened’ Brexit uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: silvia amaro
Keywords: news, cnbc, companies, uk, stood, uncertainty, bank, net, beats, fullyear, heightened, expectations, billion, versus, income, dividend, million, proposed, brexit, profit, rbs, warns


RBS beats full-year profit expectations, warns of 'heightened' Brexit uncertainty

Royal Bank of Scotland has slightly beaten expectations by reporting a net income of £1.62 billion ($2.07 billion) for 2018 on Friday.

Analysts were expecting a net income of £1.58 billion for the full-year, according to Reuters’ Eikon.

In terms of quarterly performance, net income stood at £286 million versus £448 million in the third quarter.

Here are some other highlights for the full-year:

Profit stood at £3.34 billion versus £2.24 billion in 2017

Common Equity Tier 1 ratio of 16.2 percent versus 15.9 percent at the end of 2017

It proposed a full-year ordinary dividend of 3.5 pence per share

The U.K. lender has been at the center of a long legal saga with the DOJ over its selling of toxic mortgages in the U.S. in the run-up to the 2008 financial crisis. The lengthy settlement agreement process had prevented the bank from providing dividends to its shareholders. In the summer last year, the bank proposed its first dividend in 10 years.

RBS’ chief executive Ross McEwan said in a statement: “2018 was a year of strong progress on our strategy – we settled our remaining major legacy issues, paid our first dividend in ten years and delivered another full year bottom line profit.”

However, there are significant concerns over Brexit and the future of the U.K. economy.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: silvia amaro
Keywords: news, cnbc, companies, uk, stood, uncertainty, bank, net, beats, fullyear, heightened, expectations, billion, versus, income, dividend, million, proposed, brexit, profit, rbs, warns


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Crypto exchange Binance profitable despite bear market, CFO says

Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017. “To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday. The company doesn’t disclose its financials publicly, he said, and media outlets have been


Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017. “To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday. The company doesn’t disclose its financials publicly, he said, and media outlets have been
Crypto exchange Binance profitable despite bear market, CFO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: ryan browne, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, crypto, bear, startups, profitable, exchange, publicly, million, cfo, told, binance, net, market, estimates, despite


Crypto exchange Binance profitable despite bear market, CFO says

Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said.

Last year saw the prices of major virtual currencies plunge dramatically. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017.

“To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday.

The company doesn’t disclose its financials publicly, he said, and media outlets have been publishing estimates based on publicly available metrics.

One report, by industry publication The Block, estimates Binance made $446 million last year, based on an analysis of how much it spent to buy back units of its token, called BNB, using its net profits.

The start-up’s Chief Executive Changpeng Zhao told Bloomberg in July that Binance was targeting a net profit of between $500 million and $1 billion in 2018.

The company has only been around since July 2017, but has become a dominant force in the nascent sector. It raised $15 million in its initial coin offering — a funding alternative to venture capital where start-ups sell new crypto tokens instead of equity.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: ryan browne, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, crypto, bear, startups, profitable, exchange, publicly, million, cfo, told, binance, net, market, estimates, despite


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