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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Buffett’s Berkshire reports new stake in Canada’s Suncor, shares spike

Warren Buffett’s Berkshire Hathaway added more than 10.8 million shares of Suncor in the fourth quarter, according to a filing with the Securities and Exchange Commission. Buffett’s conglomerate also revealed a new stake of 4.175 million shares in software company Red Hat, according to the company’s 13-F filing. Bershire added more than 20 million shares of General Motors in the fourth quarter to a total of 93.19 million shares. The company reported adding 14.45 million shares of J.P. Morgan in


Warren Buffett’s Berkshire Hathaway added more than 10.8 million shares of Suncor in the fourth quarter, according to a filing with the Securities and Exchange Commission. Buffett’s conglomerate also revealed a new stake of 4.175 million shares in software company Red Hat, according to the company’s 13-F filing. Bershire added more than 20 million shares of General Motors in the fourth quarter to a total of 93.19 million shares. The company reported adding 14.45 million shares of J.P. Morgan in
Buffett’s Berkshire reports new stake in Canada’s Suncor, shares spike Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: yun li
Keywords: news, cnbc, companies, berkshire, buffetts, million, fourth, company, companys, total, suncor, filing, stake, spike, holding, quarter, nearly, canadas, reports, shares


Buffett's Berkshire reports new stake in Canada's Suncor, shares spike

Warren Buffett’s Berkshire Hathaway added more than 10.8 million shares of Suncor in the fourth quarter, according to a filing with the Securities and Exchange Commission.

Suncor, an energy company based in Calgary, Canada, jumped as high as nearly 4 percent in after-hours trading on Thursday.

Buffett’s conglomerate also revealed a new stake of 4.175 million shares in software company Red Hat, according to the company’s 13-F filing. The filing documents the company’s holdings as of end of December.

Bershire added more than 20 million shares of General Motors in the fourth quarter to a total of 93.19 million shares. It also boosted its investments in many U.S. banks last quarter including Bank of America, U.S. Bankcorp, PNC, Bank of NY Mellon. The company reported adding 14.45 million shares of J.P. Morgan in the fourth quarter, to total 50.116 million shares.

The filing shows Bershire dissolved its holding of 41.4 million shares in Oracle and decreased its holding of Apple shares nearly 3 million shares, to 249.5 million.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: yun li
Keywords: news, cnbc, companies, berkshire, buffetts, million, fourth, company, companys, total, suncor, filing, stake, spike, holding, quarter, nearly, canadas, reports, shares


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OPEC cut production by nearly 800,000 barrels a day in January, pumping just above its oil target

The slight miss comes as the group once again cut its outlook for global oil demand in 2019. OPEC is partnering with 10 nonmember nations, including Russia, to keep 1.2 million bpd off the market. In January, OPEC managed to remove 797,000 barrels per day from the market by holding back supply. The group aimed to cut a combined 812,000 bpd in a bid to drain oversupply from the oil market. Total OPEC production stood at just over 30.8 million bpd in January, down from 31.6 million bpd in December


The slight miss comes as the group once again cut its outlook for global oil demand in 2019. OPEC is partnering with 10 nonmember nations, including Russia, to keep 1.2 million bpd off the market. In January, OPEC managed to remove 797,000 barrels per day from the market by holding back supply. The group aimed to cut a combined 812,000 bpd in a bid to drain oversupply from the oil market. Total OPEC production stood at just over 30.8 million bpd in January, down from 31.6 million bpd in December
OPEC cut production by nearly 800,000 barrels a day in January, pumping just above its oil target Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: tom dichristopher, yasser al-zayyat afp getty images
Keywords: news, cnbc, companies, million, market, bpd, barrels, waythe, nearly, supply, oil, cut, pumping, day, opec, 800000, target, production, group


OPEC cut production by nearly 800,000 barrels a day in January, pumping just above its oil target

OPEC fell just short of its production goal in January, as a fresh round of output cuts from the 14-nation producer group got under way.

The slight miss comes as the group once again cut its outlook for global oil demand in 2019. OPEC also slightly increased its forecast for supply from the United States and other non-OPEC nations.

OPEC is partnering with 10 nonmember nations, including Russia, to keep 1.2 million bpd off the market. The so-called OPEC+ alliance aims to prevent another price-crushing oil glut like the one that gripped the market between 2014 and 2016.

In January, OPEC managed to remove 797,000 barrels per day from the market by holding back supply. The group aimed to cut a combined 812,000 bpd in a bid to drain oversupply from the oil market.

Total OPEC production stood at just over 30.8 million bpd in January, down from 31.6 million bpd in December, according to independent sources cited by the group in its monthly report.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: tom dichristopher, yasser al-zayyat afp getty images
Keywords: news, cnbc, companies, million, market, bpd, barrels, waythe, nearly, supply, oil, cut, pumping, day, opec, 800000, target, production, group


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iPhone shipments crashed nearly 20% in China because Apple charges too much: IDC

Apple’s iPhone shipments fell 19.9 percent during the fourth quarter in China, according to the latest figures from research firm IDC published Monday. Overall, Apple said iPhone revenue fell 15 percent. Apple revised its guidance ahead of that report in early January, when it said a weakening economy in China and the strength of the U.S. dollar were to blame for weaker-than-expected iPhone revenue. Huawei ate up Apple’s shipment losses in China, where its shipments increased 23.3 percent during


Apple’s iPhone shipments fell 19.9 percent during the fourth quarter in China, according to the latest figures from research firm IDC published Monday. Overall, Apple said iPhone revenue fell 15 percent. Apple revised its guidance ahead of that report in early January, when it said a weakening economy in China and the strength of the U.S. dollar were to blame for weaker-than-expected iPhone revenue. Huawei ate up Apple’s shipment losses in China, where its shipments increased 23.3 percent during
iPhone shipments crashed nearly 20% in China because Apple charges too much: IDC Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: todd haselton, lintao zhang, getty images
Keywords: news, cnbc, companies, shipments, domestic, nearly, 20, crashed, charges, idc, apple, shipment, quarter, strength, increased, apples, revenue, iphone, china


iPhone shipments crashed nearly 20% in China because Apple charges too much: IDC

Apple’s iPhone shipments fell 19.9 percent during the fourth quarter in China, according to the latest figures from research firm IDC published Monday.

This was reflected in Apple’s earnings release last month, when it said it booked $13 billion in revenue from China during the quarter, down 27 percent from the year-ago quarter. Overall, Apple said iPhone revenue fell 15 percent.

Apple revised its guidance ahead of that report in early January, when it said a weakening economy in China and the strength of the U.S. dollar were to blame for weaker-than-expected iPhone revenue.

Huawei ate up Apple’s shipment losses in China, where its shipments increased 23.3 percent during the same period. Other local phone makers including Oppo and Vivo saw shipment gains of 1.5 percent and 3.1 percent, respectively.

“In addition to the regular performance upgrades in 2018, there is no major innovation to support users to continue to change their machines at the greatly increased price,” IDC said. “At the same time, under the impact of China’s severe macro environment and domestic brand innovation products, consumers’ increasingly harsh eyes are also the reasons for Apple’s continued decline in the domestic market.”

IDC said the iPhone’s high price specifically “led to the decline of Apple’s domestic market,” while the increased strength of Huawei’s brand and its flagship phone’s “excellent technology'” helped it continue to widen the gap over Apple. The latest iPhones start at $749 for the iPhone XR, and go all the up to $1,449 for the iPhone XS with the maximum storage option.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: todd haselton, lintao zhang, getty images
Keywords: news, cnbc, companies, shipments, domestic, nearly, 20, crashed, charges, idc, apple, shipment, quarter, strength, increased, apples, revenue, iphone, china


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A princess makes a surprising run to become Thailand’s next prime minister

In a historic first for Thailand, a senior member of the royal family is running in a general election — a move that some suspect could increase the monarchy’s overall power in the country. The party is closely linked to former Prime Minister Thaksin Shinawatra, who is widely believed to have played a role in Ubolratana’s candidacy. Her decision to run could change the entire outlook for the long-delayed election, which will be the country’s first after nearly five years of military rule. Furthe


In a historic first for Thailand, a senior member of the royal family is running in a general election — a move that some suspect could increase the monarchy’s overall power in the country. The party is closely linked to former Prime Minister Thaksin Shinawatra, who is widely believed to have played a role in Ubolratana’s candidacy. Her decision to run could change the entire outlook for the long-delayed election, which will be the country’s first after nearly five years of military rule. Furthe
A princess makes a surprising run to become Thailand’s next prime minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: nyshka chandran, lawrence k ho los angeles times getty images, yasuhiro sugimoto afp getty images, -benjamin zawacki, independent bangkok-based analyst
Keywords: news, cnbc, companies, party, surprising, king, minister, nearly, thai, prime, run, makes, election, royal, power, princess, thailands


A princess makes a surprising run to become Thailand's next prime minister

In a historic first for Thailand, a senior member of the royal family is running in a general election — a move that some suspect could increase the monarchy’s overall power in the country.

News emerged early on Friday that Princess Ubolratana Rajakanya, the elder sister of King Maha Vajiralongkorn and the oldest child of the late King Bhumibol Adulyadej, will be the prime ministerial candidate for the Thai Raksa Chart Party in the upcoming March 24 election. The party is closely linked to former Prime Minister Thaksin Shinawatra, who is widely believed to have played a role in Ubolratana’s candidacy.

Her decision to run could change the entire outlook for the long-delayed election, which will be the country’s first after nearly five years of military rule. Given how revered the monarchy is in Thai culture — nearly every establishment and household has portraits of the king — it will be hard for other candidates to run against the princess and equally tough for voters to consider other choices, analysts told CNBC.

Further complicating the picture is the fact that Thailand’s current prime minister, Prayut Chan-o-cha, a now-retired army chief who took power in the military’s 2014 coup, also threw his hat into the ring Friday under the pro-military faction Palang Pracharat. The development could potentially result in a showdown between the royal family and the military.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: nyshka chandran, lawrence k ho los angeles times getty images, yasuhiro sugimoto afp getty images, -benjamin zawacki, independent bangkok-based analyst
Keywords: news, cnbc, companies, party, surprising, king, minister, nearly, thai, prime, run, makes, election, royal, power, princess, thailands


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Ex-Trump lawyer Michael Cohen’s testimony at House intel panel delayed by nearly 3 weeks

Cohen was originally scheduled to testify before that committee this Friday in a closed-door session. But Intelligence Committee Chairman Adam Schiff, D-Calif., in a terse, one-sentence statement said that Cohen’s appearance would be delayed until Feb. 28 “in the interests of the investigation.” Trump is slated to be in Vietnam on Feb. 28 for his second summit with North Korean dictator Kim Jong Un. But last month he postponed that appearance because of what Davis called “ongoing threats” by Tru


Cohen was originally scheduled to testify before that committee this Friday in a closed-door session. But Intelligence Committee Chairman Adam Schiff, D-Calif., in a terse, one-sentence statement said that Cohen’s appearance would be delayed until Feb. 28 “in the interests of the investigation.” Trump is slated to be in Vietnam on Feb. 28 for his second summit with North Korean dictator Kim Jong Un. But last month he postponed that appearance because of what Davis called “ongoing threats” by Tru
Ex-Trump lawyer Michael Cohen’s testimony at House intel panel delayed by nearly 3 weeks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: dan mangan, jonathan ernst
Keywords: news, cnbc, companies, intel, extrump, committee, michael, president, delayed, testimony, nearly, house, 28, weeks, testify, lawyer, intelligence, cohens, panel, feb, trump, trumps


Ex-Trump lawyer Michael Cohen's testimony at House intel panel delayed by nearly 3 weeks

The planned testimony of Michael Cohen, former personal attorney and fixer for President Donald Trump, before the House Intelligence Committee was rescheduled Wednesday to Feb. 28 — just days before he is slated to begin a federal prison sentence.

Cohen was originally scheduled to testify before that committee this Friday in a closed-door session.

But Intelligence Committee Chairman Adam Schiff, D-Calif., in a terse, one-sentence statement said that Cohen’s appearance would be delayed until Feb. 28 “in the interests of the investigation.”

Schiff did not elaborate.

Trump is slated to be in Vietnam on Feb. 28 for his second summit with North Korean dictator Kim Jong Un.

Cohen is still considering testifying in public at the House Oversight and Government Reform Committee before he begins serving a three-year prison sentence on March 6.

Cohen’s legal advisor, Lanny Davis, declined to comment Wednesday.

He had originally been scheduled to testify before that committee on Thursday. But last month he postponed that appearance because of what Davis called “ongoing threats” by Trump and Trump’s current lawyer, Rudy Giuliani, against Cohen’s family.

Trump had urged his Twitter followers to “watch” Cohen’s father-in-law, who was placed on probation in the mid-1990s after pleading guilty in a case in which he was charged with conspiring to defraud the IRS.

Giuliani, without offering any proof, had said Cohen’s father-in-law may have ties to organized crime and was involved in criminal activity with Cohen.

Cohen, 52, pleaded guilty last year to multiple federal crimes, several of them directly related to Trump, and has cooperated with prosecutors investigating the president, including special counsel Robert Mueller.

The crimes included campaign finance violations related to Cohen facilitating hush money payments to porn star Stormy Daniels and Playboy model Karen McDougal shortly before the 2016 presidential election in exchange for their silence about alleged affairs with Trump. The president denies having sex with either woman.

Cohen also admitted to making false statements to Congress by lying about when an aborted effort to build a Trump Tower in Moscow actually ended, and about the extent of Trump’s involvement in that project.

Daniels’ lawyer, Michael Avenatti, in a tweet Wednesday said Cohen’s testimony before the Intelligence Committee should be in public.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: dan mangan, jonathan ernst
Keywords: news, cnbc, companies, intel, extrump, committee, michael, president, delayed, testimony, nearly, house, 28, weeks, testify, lawyer, intelligence, cohens, panel, feb, trump, trumps


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Disney shareholder: I like the stock because all kids ‘almost automatically’ become customers

“You’re getting a great risk-reward ratio right now,” said Smead, whose investment firm owns about $80 million worth of Disney stock. The shares, which are up about 2.7 percent in 2019, are lagging the S&P 500’s nearly 9 percent year-to-date increase. “The thing about the Disney Corp., is a child is born in the United States and they’re almost automatically a customer,” said Smead. Parents and grandparents can’t wait for the kids to experience the Disney ecosystem, he said. The only way for them


“You’re getting a great risk-reward ratio right now,” said Smead, whose investment firm owns about $80 million worth of Disney stock. The shares, which are up about 2.7 percent in 2019, are lagging the S&P 500’s nearly 9 percent year-to-date increase. “The thing about the Disney Corp., is a child is born in the United States and they’re almost automatically a customer,” said Smead. Parents and grandparents can’t wait for the kids to experience the Disney ecosystem, he said. The only way for them
Disney shareholder: I like the stock because all kids ‘almost automatically’ become customers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: matthew j belvedere, getty images
Keywords: news, cnbc, companies, disney, shareholder, stock, automatically, kids, customers, price, nearly, generations, way, park, regulate, parks, smead


Disney shareholder: I like the stock because all kids 'almost automatically' become customers

Disney’s brand loyalty, built up over nearly 100 years, and its ability deliver those movie, media and theme park brands to new generations of families sets up the company and its stock for years of success, Smead Capital Management founder Bill Smead told CNBC on Tuesday.

“You’re getting a great risk-reward ratio right now,” said Smead, whose investment firm owns about $80 million worth of Disney stock. The shares, which are up about 2.7 percent in 2019, are lagging the S&P 500’s nearly 9 percent year-to-date increase.

“The thing about the Disney Corp., is a child is born in the United States and they’re almost automatically a customer,” said Smead. Parents and grandparents can’t wait for the kids to experience the Disney ecosystem, he said.

“Therefore parks and movies and brands and characters just incredibly flourish because of the incredible goodwill attached to two prior generations of family before they come,” he contended, a day after Disney reported better-than-expected quarterly earnings and revenue.

With the parks business contributing to those strong results, Smead said the company can almost name its price for how much to charge for admission.

“If you looked into the numbers, they raised the prices in the parks because they have got to find a way to regulate the number of visitors inside the park. You’re going to ruin the experience for people if there’s too many people in the park. The only way for them to regulate [is] through price,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: matthew j belvedere, getty images
Keywords: news, cnbc, companies, disney, shareholder, stock, automatically, kids, customers, price, nearly, generations, way, park, regulate, parks, smead


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Watches falling out of favor, Capri CEO says, sending shares of Fossil, Movado lower

The parent company of Michael Kors, Versace and Jimmy Choo is seeing weakness in sales of fashion watches. “[The] fashion watch category continues to see declines globally, and we are being impacted by this secular trend,” Idol said on the fiscal third-quarter conference call. In its holiday sales release, Macy’s CEO Jeff Gennette noted weak watch sales, among several other categories. The earlier hints of watch weakness could be a warning sign ahead of other retailers’ earnings reports still to


The parent company of Michael Kors, Versace and Jimmy Choo is seeing weakness in sales of fashion watches. “[The] fashion watch category continues to see declines globally, and we are being impacted by this secular trend,” Idol said on the fiscal third-quarter conference call. In its holiday sales release, Macy’s CEO Jeff Gennette noted weak watch sales, among several other categories. The earlier hints of watch weakness could be a warning sign ahead of other retailers’ earnings reports still to
Watches falling out of favor, Capri CEO says, sending shares of Fossil, Movado lower Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: courtney reagan, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, capri, sending, favor, weakness, ceo, sales, movado, apple, lower, fossil, fashion, watches, shares, category, nearly, falling, watch, quarter


Watches falling out of favor, Capri CEO says, sending shares of Fossil, Movado lower

While Capri Holdings just put up a quarter that beat profit expectations, CEO John Idol pointed out a key weakness in one category that pulled down shares of several competitors.

The parent company of Michael Kors, Versace and Jimmy Choo is seeing weakness in sales of fashion watches.

“[The] fashion watch category continues to see declines globally, and we are being impacted by this secular trend,” Idol said on the fiscal third-quarter conference call. “We now expect declines in watches to continue in the fourth quarter and into next year at a greater rate than we had anticipated.”

Shares of watchmakers Fossil and Movado fell on the comments. Fossil shares, which are down nearly 88 percent over the past year, plunged nearly 10 percent, while Movado shares dropped 3 percent. Movado shares are off nearly 4 percent over the past year.

Capri is not the first retailer to call out the weakness in recent weeks. In its holiday sales release, Macy’s CEO Jeff Gennette noted weak watch sales, among several other categories.

The earlier hints of watch weakness could be a warning sign ahead of other retailers’ earnings reports still to come.

The soft sales may reflect consumer adoption of smartwatches, or a shift to consumers wearing watches less often now that mobile phones are ever-present time-telling devices.

Over the same time period that Capri and Macy’s saw weakness in fashion watches, Apple saw strength for its smartwatch. While the tech company does not provide a breakout for sales of its watch alone, on its fiscal first-quarter earnings conference call, Apple CEO Tim Cook said the tech company “had our best quarter ever for wearables, home, and accessories” noting “almost 50 percent growth from wearables, thanks to strong sales of both Apple Watch and AirPods.”

According to Strategy Analytics, the Apple Watch held the top spot for smartwatches with 45 percent of the global market in the third quarter of 2018. FitBit jumped to second with a 15 percent share of the market, overtaking Samsung at 11 percent and Garmin at 8 percent. I

The Michael Kors smartwatch continued to outperform the broader category, Idol said. He added that in fashion watches, “slim silhouettes, particularly those in luxury leather band offerings” were better selling, but in general “the overall watch category was more challenged than we anticipated in the quarter.”


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: courtney reagan, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, capri, sending, favor, weakness, ceo, sales, movado, apple, lower, fossil, fashion, watches, shares, category, nearly, falling, watch, quarter


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Nearly 60 percent of Trump’s schedule is ‘Executive Time,’ report says

President Donald Trump has spent about 60 percent of his officially scheduled time over the last three months in unstructured “Executive Time,” Axios reported Sunday, citing schedules leaked by a White House source. An early riser, Trump typically spends the first five hours of his day in executive time, according to Axios. “He’s always calling people, talking to people,” a senior White House official told Axios. “He’s always up to something; it’s just not what you would consider typical structu


President Donald Trump has spent about 60 percent of his officially scheduled time over the last three months in unstructured “Executive Time,” Axios reported Sunday, citing schedules leaked by a White House source. An early riser, Trump typically spends the first five hours of his day in executive time, according to Axios. “He’s always calling people, talking to people,” a senior White House official told Axios. “He’s always up to something; it’s just not what you would consider typical structu
Nearly 60 percent of Trump’s schedule is ‘Executive Time,’ report says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: allan smith, kevin lamarque
Keywords: news, cnbc, companies, report, white, 60, day, spends, trumps, house, site, schedules, nearly, schedule, trump, axios, reported, executive


Nearly 60 percent of Trump's schedule is 'Executive Time,' report says

President Donald Trump has spent about 60 percent of his officially scheduled time over the last three months in unstructured “Executive Time,” Axios reported Sunday, citing schedules leaked by a White House source.

An early riser, Trump typically spends the first five hours of his day in executive time, according to Axios. Although the private schedules list him as being in the Oval Office from 8 to 11 a.m. each day, he actually spends those hours in his residence watching TV, reading newspapers, and responding to what he sees in the news by phoning aides, members of Congress, friends, administration officials, and other advisers, the news site reported, citing six sources with direct knowledge of the matter.

“He’s always calling people, talking to people,” a senior White House official told Axios. “He’s always up to something; it’s just not what you would consider typical structure.”

The news site reported that former White House chief of staff John Kelly introduced executive time into Trump’s day because the president disliked being locked into a regular schedule.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: allan smith, kevin lamarque
Keywords: news, cnbc, companies, report, white, 60, day, spends, trumps, house, site, schedules, nearly, schedule, trump, axios, reported, executive


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Charlotte Russe files for bankruptcy and plans to shut nearly 100 stores

Another private equity-backed retailer has filed for bankruptcy. Women’s apparel company Charlotte Russe on Sunday filed for Chapter 11 bankruptcy protection and said it planned to shut about 94 stores. Charlotte Russe said in a press release Monday morning that it was continuing to pursue a sale of its business after having received a commitment of $50 million in debtor-in-possession financing. During court proceedings, it said it will continue to operate its website and keep open other Charlot


Another private equity-backed retailer has filed for bankruptcy. Women’s apparel company Charlotte Russe on Sunday filed for Chapter 11 bankruptcy protection and said it planned to shut about 94 stores. Charlotte Russe said in a press release Monday morning that it was continuing to pursue a sale of its business after having received a commitment of $50 million in debtor-in-possession financing. During court proceedings, it said it will continue to operate its website and keep open other Charlot
Charlotte Russe files for bankruptcy and plans to shut nearly 100 stores Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: lauren thomas, source, charlotte russe
Keywords: news, cnbc, companies, stores, 100, filed, nearly, russe, charlotte, bankruptcy, usthe, storescharlotte, website, term, files, company, shut, plans


Charlotte Russe files for bankruptcy and plans to shut nearly 100 stores

Another private equity-backed retailer has filed for bankruptcy.

Women’s apparel company Charlotte Russe on Sunday filed for Chapter 11 bankruptcy protection and said it planned to shut about 94 stores.

Charlotte Russe said in a press release Monday morning that it was continuing to pursue a sale of its business after having received a commitment of $50 million in debtor-in-possession financing. During court proceedings, it said it will continue to operate its website and keep open other Charlotte Russe and Peek Kids locations. It has more than 500 shops operating across the U.S.

The company added it will provide additional information about closing sales and the addresses of the stores set to shut “in the near term.”


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: lauren thomas, source, charlotte russe
Keywords: news, cnbc, companies, stores, 100, filed, nearly, russe, charlotte, bankruptcy, usthe, storescharlotte, website, term, files, company, shut, plans


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