This is the difference between ‘basic economy’ and ‘economy plus’ on a plane

“Economy Plus” is the latest way for airlines to upcharge consumers. And now, many domestic carriers are slicing up their economy class offerings into basic, standard and plus, further complicating the already complex ticketing process. Basic economyAll of these categories vary by carrier, but typically a basic economy ticket is the least expensive and most restrictive. Passengers who buy a United basic economy ticket, for example, cannot upgrade their seat, board last and can only bring on one


“Economy Plus” is the latest way for airlines to upcharge consumers. And now, many domestic carriers are slicing up their economy class offerings into basic, standard and plus, further complicating the already complex ticketing process. Basic economyAll of these categories vary by carrier, but typically a basic economy ticket is the least expensive and most restrictive. Passengers who buy a United basic economy ticket, for example, cannot upgrade their seat, board last and can only bring on one
This is the difference between ‘basic economy’ and ‘economy plus’ on a plane Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: alicia adamczyk
Keywords: news, cnbc, companies, passengers, ticket, offerings, plane, airlines, basic, seat, select, united, difference, plus, economy


This is the difference between 'basic economy' and 'economy plus' on a plane

“Economy Plus” is the latest way for airlines to upcharge consumers.

It can feel like you need an advanced degree to price out the best airline ticket. Between different tiers of seat selection, offerings like Wi-Fi and paying per additional inch of legroom, there are countless add-ons that increase a passenger’s ticket price. And now, many domestic carriers are slicing up their economy class offerings into basic, standard and plus, further complicating the already complex ticketing process. It’s the latest way airlines are upcharging customers with à la carte flight offerings. Here’s how to parse the terminology for the basics of economy ticketing for non-business travelers.

Basic economy

All of these categories vary by carrier, but typically a basic economy ticket is the least expensive and most restrictive. Passengers usually cannot select a seat, will have less legroom than other designations and sometimes will not be able to stow a bag in the overhead bins. Passengers who buy a United basic economy ticket, for example, cannot upgrade their seat, board last and can only bring on one personal item, which must fit under a seat. Main cabin tickets are a step up from basic economy, and, at least on American, Delta and United, include the use of overhead bin space and seat selection in the cost of a more expensive ticket.

Preferred seating

Selecting a seat with a main cabin ticket doesn’t always mean that you’re guaranteed more legroom or an aisle or window. With preferred seating, airlines charge customers even more to have access to seats closer to the front of the plane, or anywhere but the middle seat. Prices to select a seat range from $9 to over $100 in some cases, and major U.S. airlines including, American, Delta and United, all charge customers if they want to select a seat ahead of time. Preferred seating is different from an upgrade to a premium or business class seat, and is worth the cost for passengers who want to avoid a middle seat or exit the plane more quickly upon arrival. But paying to select a seat doesn’t necessarily mean more legroom.

Economy plus


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: alicia adamczyk
Keywords: news, cnbc, companies, passengers, ticket, offerings, plane, airlines, basic, seat, select, united, difference, plus, economy


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Snap stock rises after slew of new product announcements, but analysts remain wary

While investors seem to be pleased by Snap’s new offerings and revenue opportunities, several Wall Street analysts remain reserved about its execution. The firm maintained its rating on the stock, the equivalent of a sell, with a price target of $5.50. The analysts were skeptical of Snap’s ability to execute on scalable, non-intrusive ad units for mobile gaming and third-party networks. Stifel analysts were slightly more optimistic, giving the stock the equivalent of a neutral rating with a pric


While investors seem to be pleased by Snap’s new offerings and revenue opportunities, several Wall Street analysts remain reserved about its execution. The firm maintained its rating on the stock, the equivalent of a sell, with a price target of $5.50. The analysts were skeptical of Snap’s ability to execute on scalable, non-intrusive ad units for mobile gaming and third-party networks. Stifel analysts were slightly more optimistic, giving the stock the equivalent of a neutral rating with a pric
Snap stock rises after slew of new product announcements, but analysts remain wary Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: lauren feiner, getty images
Keywords: news, cnbc, companies, rating, analysts, snap, announcements, remain, snaps, price, stock, games, opportunities, target, product, rises, offerings, wary, slew


Snap stock rises after slew of new product announcements, but analysts remain wary

Shares of Snap popped 5% Friday after unveiling a host of new features meant to keep users and advertisers engaged with its platform.

Snap added about $700 million to its market capitalization Friday, making it worth about $15.6 billion. The social media company has doubled its share price since the beginning of 2019, although the stock is still down nearly 18% for the past 12 months.

Snap announced a new gaming platform at its partner summit Thursday, bulking up on advertising offerings to those looking to grab the attention of Snapchat’s Gen Z user base. Free-to-play games like Epic Game’s “Fortnite” and EA’s “Apex Legends” have proved wildly popular among this demographic, and Snap already has planned two games in the same battle royale style.

The company also announced its upcoming lineup of original shows, a new augmented reality feature and the Snap Audience Network, which will sell ads that appear in third-party apps.

While investors seem to be pleased by Snap’s new offerings and revenue opportunities, several Wall Street analysts remain reserved about its execution.

“These should create engagement opportunities, but material monetization of this new engagement is not as straightforward,” Morgan Stanley analysts wrote of Snap’s new offerings in a note Friday. The firm maintained its rating on the stock, the equivalent of a sell, with a price target of $5.50.

The analysts were skeptical of Snap’s ability to execute on scalable, non-intrusive ad units for mobile gaming and third-party networks. They also questioned the company’s capacity to draw a large enough audience for its new original programming.

Stifel analysts were slightly more optimistic, giving the stock the equivalent of a neutral rating with a price target of $10.

“Overall, the announcements highlight Snap’s continued ability to develop truly innovative experiences for its users / partners despite a slimmed-down R&D budget in recent quarters,” the analysts wrote in a note Friday. “As its competitors are being pressured to reign in functionality due to privacy concerns, Snap’s privacy-centric approach could lead to developers investing more deeply in the platform. Monetization of games and off-platform usage also represent potential incremental monetization opportunities for Snap.”

The Stifel analysts see potential in the Snap Audience Network. Snap could potentially gain advertising dollars from agencies “weary of how much they spend on Google and Facebook today,” according to the analysts.

JMP analysts also gave Snap the equivalent of a neutral rating without listing a price target. While largely positive on Snap’s new announcements and the opportunities to bring in ad dollars, the analysts said they are still focused on other pressing issues at the company.

“[T]he risk/reward remains balanced, at least until we can see traction with the Android rebuild, a ramp in advertiser demand, and improving overall profitability,” they wrote.

Disclosure: CNBC parent NBCUniversal is an investor in Snap .

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Watch: Snap rolls out new tools to drive engagement and ad dollars


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: lauren feiner, getty images
Keywords: news, cnbc, companies, rating, analysts, snap, announcements, remain, snaps, price, stock, games, opportunities, target, product, rises, offerings, wary, slew


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Snap stock rises after slew of new product announcements, but analysts remain wary

While investors seem to be pleased by Snap’s new offerings and revenue opportunities, several Wall Street analysts remain reserved about its execution. The firm maintained its rating on the stock, the equivalent of a sell, with a price target of $5.50. The analysts were skeptical of Snap’s ability to execute on scalable, non-intrusive ad units for mobile gaming and third-party networks. Stifel analysts were slightly more optimistic, giving the stock the equivalent of a neutral rating with a pric


While investors seem to be pleased by Snap’s new offerings and revenue opportunities, several Wall Street analysts remain reserved about its execution. The firm maintained its rating on the stock, the equivalent of a sell, with a price target of $5.50. The analysts were skeptical of Snap’s ability to execute on scalable, non-intrusive ad units for mobile gaming and third-party networks. Stifel analysts were slightly more optimistic, giving the stock the equivalent of a neutral rating with a pric
Snap stock rises after slew of new product announcements, but analysts remain wary Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: lauren feiner, getty images
Keywords: news, cnbc, companies, announcements, games, opportunities, snaps, price, snap, offerings, wary, rating, target, rises, product, remain, analysts, stock, slew


Snap stock rises after slew of new product announcements, but analysts remain wary

Shares of Snap popped more than 4% Friday after unveiling a host of new features meant to keep users and advertisers engaged with its platform.

Snap added about $600 million to its market capitalization Friday, making it worth about $15.5 billion. The social media company has nearly doubled its share price since the beginning of 2019, although the stock is still down about 18% for the past 12 months.

Snap announced a new gaming platform at its partner summit Thursday, bulking up on advertising offerings to those looking to grab the attention of Snapchat’s Gen Z user base. Free-to-play games like Epic Game’s “Fortnite” and EA’s “Apex Legends” have proved wildly popular among this demographic, and Snap already has planned two games in the same battle royale style.

The company also announced its upcoming lineup of original shows, a new augmented reality feature and the Snap Audience Network, which will sell ads that appear in third-party apps.

While investors seem to be pleased by Snap’s new offerings and revenue opportunities, several Wall Street analysts remain reserved about its execution.

“These should create engagement opportunities, but material monetization of this new engagement is not as straightforward,” Morgan Stanley analysts wrote of Snap’s new offerings in a note Friday. The firm maintained its rating on the stock, the equivalent of a sell, with a price target of $5.50.

The analysts were skeptical of Snap’s ability to execute on scalable, non-intrusive ad units for mobile gaming and third-party networks. They also questioned the company’s capacity to draw a large enough audience for its new original programming.

Stifel analysts were slightly more optimistic, giving the stock the equivalent of a neutral rating with a price target of $10.

“Overall, the announcements highlight Snap’s continued ability to develop truly innovative experiences for its users / partners despite a slimmed-down R&D budget in recent quarters,” the analysts wrote in a note Friday. “As its competitors are being pressured to reign in functionality due to privacy concerns, Snap’s privacy-centric approach could lead to developers investing more deeply in the platform. Monetization of games and off-platform usage also represent potential incremental monetization opportunities for Snap.”

The Stifel analysts see potential in the Snap Audience Network. Snap could potentially gain advertising dollars from agencies “weary of how much they spend on Google and Facebook today,” according to the analysts.

JMP analysts also gave Snap the equivalent of a neutral rating without listing a price target. While largely positive on Snap’s new announcements and the opportunities to bring in ad dollars, the analysts said they are still focused on other pressing issues at the company.

“[T]he risk/reward remains balanced, at least until we can see traction with the Android rebuild, a ramp in advertiser demand, and improving overall profitability,” they wrote.

Disclosure: CNBC parent NBCUniversal is an investor in Snap .

Subscribe to CNBC on YouTube.

Watch: Snap rolls out new tools to drive engagement and ad dollars


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: lauren feiner, getty images
Keywords: news, cnbc, companies, announcements, games, opportunities, snaps, price, snap, offerings, wary, rating, target, rises, product, remain, analysts, stock, slew


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IPOs are red hot, doubling the return of the market, as Levi Strauss kicks off wave of offerings

Renaissance Capital, which tracks the IPO market, counts 37 companies in registration targeting $10 billion of proceeds. “We are concerned about how the public markets will absorb all this issuance,” Kathleen Smith from Renaissance Capital told CNBC. Her point is that the market is very different than it was 20 years ago. These financial advisors often aren’t even stock pickers and don’t follow the IPO market. “The era when your broker called you up and said, ‘We’ve got a hot deal for you,’ is m


Renaissance Capital, which tracks the IPO market, counts 37 companies in registration targeting $10 billion of proceeds. “We are concerned about how the public markets will absorb all this issuance,” Kathleen Smith from Renaissance Capital told CNBC. Her point is that the market is very different than it was 20 years ago. These financial advisors often aren’t even stock pickers and don’t follow the IPO market. “The era when your broker called you up and said, ‘We’ve got a hot deal for you,’ is m
IPOs are red hot, doubling the return of the market, as Levi Strauss kicks off wave of offerings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: bob pisani
Keywords: news, cnbc, companies, ipo, proceeds, strauss, record, return, smith, ipos, offerings, market, financial, billion, red, wave, levi, hot, dont, kicks, renaissance, targeting


IPOs are red hot, doubling the return of the market, as Levi Strauss kicks off wave of offerings

Renaissance Capital, which tracks the IPO market, counts 37 companies in registration targeting $10 billion of proceeds. But that’s just the beginning: Renaissance has 234 companies targeting 2019 IPOs with valuations of nearly $700 billion, with a strong possibility that 2019 will be a record $100 billion year for IPO proceeds, passing the 2000 record of $96 billion.

It all sounds terrific, but there’s a simple problem: Who’s going to buy all this stuff?

“We are concerned about how the public markets will absorb all this issuance,” Kathleen Smith from Renaissance Capital told CNBC.

Her point is that the market is very different than it was 20 years ago. There are fewer individual investors. Many don’t even have brokerage accounts. They have financial advisors who do asset allocation using index investing and ETFs. These financial advisors often aren’t even stock pickers and don’t follow the IPO market. They are asset allocators.

“The era when your broker called you up and said, ‘We’ve got a hot deal for you,’ is mostly over,” Smith said.


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: bob pisani
Keywords: news, cnbc, companies, ipo, proceeds, strauss, record, return, smith, ipos, offerings, market, financial, billion, red, wave, levi, hot, dont, kicks, renaissance, targeting


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A giant IPO wave is coming as ‘unicorns’ whet investor appetite

IPO observers are optimistic, and with some justification: There is an outside chance 2019 could be an all-time record for initial public offerings, passing even the legendary 1999 and 2000 years. How big is the IPO market in 2019? Assuming the companies float 15 percent of their value, you get over $100 billion in IPO offerings ($697 billion x 15 percent = $104.55 billion). There were $93 billion of IPOs in 1999 and $97 billion in 2000, according to Renaissance Capital. In 2014, the total value


IPO observers are optimistic, and with some justification: There is an outside chance 2019 could be an all-time record for initial public offerings, passing even the legendary 1999 and 2000 years. How big is the IPO market in 2019? Assuming the companies float 15 percent of their value, you get over $100 billion in IPO offerings ($697 billion x 15 percent = $104.55 billion). There were $93 billion of IPOs in 1999 and $97 billion in 2000, according to Renaissance Capital. In 2014, the total value
A giant IPO wave is coming as ‘unicorns’ whet investor appetite Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: bob pisani, source
Keywords: news, cnbc, companies, ipos, unicorns, appetite, whet, offerings, renaissance, ipo, market, investor, wave, giant, 2019, value, coming, companies, public, billion


A giant IPO wave is coming as 'unicorns' whet investor appetite

There’s a ‘large backlog’ of IPOs in the US: Renaissance Capital 2:32 AM ET Tue, 29 Jan 2019 | 03:05

Now that the IPO market has reopened, traders are hopeful that an enormous pile of new stock offerings can be pushed through the door in 2019.

IPO observers are optimistic, and with some justification: There is an outside chance 2019 could be an all-time record for initial public offerings, passing even the legendary 1999 and 2000 years.

But for that to happen, a lot of things need to go almost perfectly. There can’t be any more government shutdowns, market conditions have to exhibit low volatility and — most importantly — the public needs to have an appetite to buy very large IPOs at (potentially) very inflated prices.

That’s a very tall order.

How big is the IPO market in 2019? Really big.

Renaissance Capital, which advises institutional buyers on IPOs and maintains the IPO ETF, a basket of roughly the last 60 large IPOs, has a watch list of 226 private companies that are planning to go public in 2019. These companies represent a value of $697 billion.

Assuming the companies float 15 percent of their value, you get over $100 billion in IPO offerings ($697 billion x 15 percent = $104.55 billion).

“That will break any record we have ever seen in terms of dollar volume,” Kathleen Smith of Renaissance tells CNBC. It would be bigger than 1999 and 2000, the years that represented the height of the dot-com IPO boom. There were $93 billion of IPOs in 1999 and $97 billion in 2000, according to Renaissance Capital.

The market has never gotten close to $100 billion in capital raised in a single year since then. In 2014, the total value raised was $85 billion, but $22 billion of that was for Alibaba, the Chinese e-commerce giant.

In terms of deals lined up for this year, of the 226 companies set to launch there are 119 companies that would be classified as “unicorns,” or private companies with valuations over $1 billion. This group includes well-known names like Uber, WeWork and Lyft.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: bob pisani, source
Keywords: news, cnbc, companies, ipos, unicorns, appetite, whet, offerings, renaissance, ipo, market, investor, wave, giant, 2019, value, coming, companies, public, billion


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Cracks appearing for leveraged loans that helped cause financial crisis

That would be a massive drop-off from 2018, which saw $274 billion in issuance during the first half alone, according to LeveragedLoan.com. The key risk point for the industry is securitization, or the bundling of the loans into offerings such as collateralized loan obligations. Yellen mentioned that danger specifically, saying the CLO industry for leveraged loans looked a lot like the subprime mortgage offerings that led up to the financial crisis. Wall Street sells CLOs to investors looking fo


That would be a massive drop-off from 2018, which saw $274 billion in issuance during the first half alone, according to LeveragedLoan.com. The key risk point for the industry is securitization, or the bundling of the loans into offerings such as collateralized loan obligations. Yellen mentioned that danger specifically, saying the CLO industry for leveraged loans looked a lot like the subprime mortgage offerings that led up to the financial crisis. Wall Street sells CLOs to investors looking fo
Cracks appearing for leveraged loans that helped cause financial crisis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: jeff cox, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, crisis, appearing, industry, investors, saw, helped, market, loans, billion, securitization, offerings, cracks, issuance, financial, cause, looking, refinitiv, leveraged


Cracks appearing for leveraged loans that helped cause financial crisis

As the warnings were being issued, both investors and companies looking for funding left the market.

Mutual fund outflows in December alone hit $15.4 billion in December, according to Refinitiv. The firm’s LPC group surveyed market participants and found they expect issuance to be weak this year, with most looking for it to be in a range of $90 billion to $110 billion. That would be a massive drop-off from 2018, which saw $274 billion in issuance during the first half alone, according to LeveragedLoan.com.

The key risk point for the industry is securitization, or the bundling of the loans into offerings such as collateralized loan obligations.

Yellen mentioned that danger specifically, saying the CLO industry for leveraged loans looked a lot like the subprime mortgage offerings that led up to the financial crisis. Wall Street sells CLOs to investors looking for yield; during the crisis, the securities became so opaque that investors had a hard time deciphering what they even held. The issues over securitization helped spark a lack of confidence that led to liquidity drying up in financial markets.

Refinitiv said CLO issuance hit a record $128 billion last year, though December saw the market sink to a two-year low.

One final issue hitting the industry has been the Federal Reserve.

Higher interest rates make the products more attractive, but central bank officials in recent days have become more tepid about the pace of increases. The possibility that the Fed may enact any hikes this year is another problem for the industry, Refinitiv LPC said.

The firm said the appetite for issuance to Athenahealth and Dun & Bradstreet, which launched earlier this week, will provide signals for this year’s market.

WATCH: Have companies taken on too much debt?


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: jeff cox, michael nagle, bloomberg, getty images
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Cramer’s favorite ways to invest in the rise of streaming services

Investors looking to seize on the rise of over-the-top streaming services and increased cord-cutting should look no further than a few key stocks, CNBC’s Jim Cramer said Friday on “Mad Money.” While the devices and ecosystems that enable streaming — think Apple, Amazon, Alphabet and Comcast, as well as smaller players like Roku — are worth considering for some exposure, the streaming service providers are the real long-term winners, he said. Cramer’s favorite pick in the streaming space might co


Investors looking to seize on the rise of over-the-top streaming services and increased cord-cutting should look no further than a few key stocks, CNBC’s Jim Cramer said Friday on “Mad Money.” While the devices and ecosystems that enable streaming — think Apple, Amazon, Alphabet and Comcast, as well as smaller players like Roku — are worth considering for some exposure, the streaming service providers are the real long-term winners, he said. Cramer’s favorite pick in the streaming space might co
Cramer’s favorite ways to invest in the rise of streaming services Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, streaming, overthetop, services, offerings, disney, ways, think, stock, invest, content, stocks, disneys, rise, service, cramers, favorite


Cramer's favorite ways to invest in the rise of streaming services

Investors looking to seize on the rise of over-the-top streaming services and increased cord-cutting should look no further than a few key stocks, CNBC’s Jim Cramer said Friday on “Mad Money.”

While the devices and ecosystems that enable streaming — think Apple, Amazon, Alphabet and Comcast, as well as smaller players like Roku — are worth considering for some exposure, the streaming service providers are the real long-term winners, he said.

That’s because, when it comes to over-the-top entertainment, the hardware is “not where the big money is,” the longtime stock-picker explained.

“In this business, content is king,” he said.

Cramer’s favorite pick in the streaming space might come as a surprise: The Walt Disney Company.

In 2017, Disney became something of a “poster child for the pain of cord-cutting” as Wall Street fretted about the company’s subscriber losses at its sports network, ESPN, quarter after quarter.

Since then, Disney CEO Bob Iger has been at work reshaping Disney’s offerings, introducing ESPN+, an over-the-top streaming service with live sports and exclusive content, for $4.99 a month, last April. Still on the horizon for the company, which owns a stake in Hulu, is the launch of its own streaming service, Disney+.

“And, remember, thanks to Disney’s acquisition of Twenty-First Century Fox’s entertainment assets, the combined company’s going to have perhaps the best library of content in the world,” Cramer said.

“In the end, when it comes to streaming platforms, I believe the best content will win, and Disney’s got amazing content,” he continued. “The stock actually remains cheap; it sells for 15 times earnings. […] I think it’s a buy ahead of what I believe will be a very compelling April analyst meeting.”

The “Mad Money” host couldn’t address streaming without considering the stock of Netflix, one of the pioneers of over-the-top offerings. But while he liked Netflix’s long-term prospects, he worried about the stock’s surge in recent weeks.

“Call me a believer, but understand that if you buy the stock here, you are chasing, and I am a no-chaser guy,” he said.

Cramer acknowledged that some investors might want to play it safer and invest in Apple, Amazon or Alphabet, whose streaming offerings are generally “too small to move the needle,” but remain solid lines of business. Some stock-pickers might want to speculate on a riskier play like Roku, or a “dark horse” like Comcast, which just began offering a new over-the-top interface, he said.

But his favorites remain the stocks of Disney and, in the case of a pullback, the original streamer, Netflix.

“You’ve seen the rise of all these streaming services, so if you want to invest in the over-the-top renaissance, I say wait for a pullback in Netflix or pick up some Disney ahead of that all-important April analyst meeting,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, streaming, overthetop, services, offerings, disney, ways, think, stock, invest, content, stocks, disneys, rise, service, cramers, favorite


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Vietnam unseats Singapore as largest IPO fundraiser in Southeast Asia

Singapore, a major international financial hub, lost its crown as Southeast Asia’s top grossing market for initial public offerings in 2018. It was brought down by Vietnam, which is often not top of mind for stock investors. In fact, the communist country is still considered a frontier market by major index providers, meaning it’s thought to be less established and riskier than even emerging markets. Singapore, meanwhile, is classified as a developed market. But Singapore’s fall this year had li


Singapore, a major international financial hub, lost its crown as Southeast Asia’s top grossing market for initial public offerings in 2018. It was brought down by Vietnam, which is often not top of mind for stock investors. In fact, the communist country is still considered a frontier market by major index providers, meaning it’s thought to be less established and riskier than even emerging markets. Singapore, meanwhile, is classified as a developed market. But Singapore’s fall this year had li
Vietnam unseats Singapore as largest IPO fundraiser in Southeast Asia Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-27  Authors: yen nee lee, hoang dinh nam, afp, getty images
Keywords: news, cnbc, companies, asia, singapores, global, offerings, international, fundraiser, unseats, vietnam, southeast, markets, major, listing, market, ipo, singapore, largest


Vietnam unseats Singapore as largest IPO fundraiser in Southeast Asia

Singapore, a major international financial hub, lost its crown as Southeast Asia’s top grossing market for initial public offerings in 2018.

It was brought down by Vietnam, which is often not top of mind for stock investors. In fact, the communist country is still considered a frontier market by major index providers, meaning it’s thought to be less established and riskier than even emerging markets. Singapore, meanwhile, is classified as a developed market.

But Singapore’s fall this year had little to do with Vietnam’s rise, experts noted. Instead, they said, the wealthy city-state’s open economy means it’s more affected by global developments and there were plenty of reasons for companies to hold back their listing plans in 2018.

“In the second half of 2018, global trade wars, political tensions and volatile markets have inadvertently impacted economic sentiments, causing delays in the listing timeline of some IPO aspirants,” Tay Hwee Ling, Deloitte Southeast Asia and Singapore’s global International Financial Reporting Standards and offerings services leader, told CNBC in an email.


Company: cnbc, Activity: cnbc, Date: 2018-12-27  Authors: yen nee lee, hoang dinh nam, afp, getty images
Keywords: news, cnbc, companies, asia, singapores, global, offerings, international, fundraiser, unseats, vietnam, southeast, markets, major, listing, market, ipo, singapore, largest


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Bitcoin crashes 37 percent in November, wiping $70 billion off of cryptocurrencies’ market value

Bitcoin hit a low of $3,878.66 Friday after starting November above the $6,300 mark. The market capitalization of all major cryptocurrencies took a $70 billion hit for the month, according to CoinMarketCap.com. That digital currency split into two versions: “Bitcoin ABC” or “Bitcoin SV,” short for “Satoshi’s Vision” in mid-November. “While the split occurred on a different blockchain, there were still spill-over effects on other cryptos, including bitcoin,” Moro said. Regulators stepped up enfor


Bitcoin hit a low of $3,878.66 Friday after starting November above the $6,300 mark. The market capitalization of all major cryptocurrencies took a $70 billion hit for the month, according to CoinMarketCap.com. That digital currency split into two versions: “Bitcoin ABC” or “Bitcoin SV,” short for “Satoshi’s Vision” in mid-November. “While the split occurred on a different blockchain, there were still spill-over effects on other cryptos, including bitcoin,” Moro said. Regulators stepped up enfor
Bitcoin crashes 37 percent in November, wiping $70 billion off of cryptocurrencies’ market value Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: kate rooney, yu chun christopher wong, getty images
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Bitcoin crashes 37 percent in November, wiping $70 billion off of cryptocurrencies' market value

November will be a month to remember for bitcoin investors.

The world’s largest cryptocurrency ended November down 37 percent, its worst drop since April 2011 when the cryptocurrency fell about 39 percent, according to data from CoinDesk.

Bitcoin hit a low of $3,878.66 Friday after starting November above the $6,300 mark. The digital currency is now down more than 70 percent since the start of 2018 and 80 percent from its all-time high hit late last year.

The market capitalization of all major cryptocurrencies took a $70 billion hit for the month, according to CoinMarketCap.com. XRP, the world’s second largest cryptocurrency, dropped 18 percent in November while ether fell 43 percent in the same time period.

For bitcoin, this month’s price performance was a stark turnaround from its relatively stable October. The cryptocurrency traded near $6,400 without much volatility as global markets fell.

Michael Moro, CEO of Genesis Global Trading, said “it didn’t take much for the price to break down” after bitcoin failed to stay above the key support level of $5,850.

“It’s unclear if this is a ‘bottom’ or a brief period of consolidation before next move down, but buyers are still maintaining some cash on the sidelines in case it does go lower,” Moro said.

There was a spike in short interest in bitcoin as momentum traders piled on, he said. But still, Moro said Genesis is seeing a decent level of buy-side interest at the $4,000 level.

The CEO also pointed to a “messy” fork on the bitcoin cash network. That digital currency split into two versions: “Bitcoin ABC” or “Bitcoin SV,” short for “Satoshi’s Vision” in mid-November.

“While the split occurred on a different blockchain, there were still spill-over effects on other cryptos, including bitcoin,” Moro said.

Still, there were some bright spots for crypto bulls this month.

Digital currencies got the backing of a key figurehead on Wall Street — Jeff Sprecher, chairman of the New York Stock Exchange and CEO of its parent company ICE. Despite headlines of cryptocurrencies flopping, Sprecher said they have a future in regulated markets.

The Intercontinental Exchange is backing a version of bitcoin futures through a start-up called Bakkt that goes live in January. Nasdaq and VanEck also confirmed they are planning to launch multiple cryptocurrency products, which include bitcoin futures in the first quarter of next year.

Regulators stepped up enforcement of initial coin offerings in November.

The Securities Exchange Commission announced its first civil penalties against founders who did not register new coin offerings, adding to its crackdown aimed at abuses and outright fraud in the growing digital industry. This week, the agency settled with pro boxer Floyd Mayweather and music producer DJ Khaled, who the SEC said pumped up initial coin offerings without telling investors they were getting paid a promotional fee.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: kate rooney, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, digital, ceo, worlds, moro, billion, value, crashes, hit, wiping, bitcoin, exchange, 37, market, 70, coin, offerings, cryptocurrencies, cryptocurrency


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In bigger crackdown of crypto abuses, SEC goes after unregistered coin offerings

The Securities and Exchange Commission announced its first civil penalties on Friday against crypto founders who failed to register new coin offerings, part of a bigger regulatory and legal crackdown aimed at abuses and outright fraud in the growing digital currency industry. The SEC said it settled separate cases with start-ups companies Airfox and Paragon, which raised more than $10 million each in initial coin offerings that weren’t registered. The settlement comes a week after the agency not


The Securities and Exchange Commission announced its first civil penalties on Friday against crypto founders who failed to register new coin offerings, part of a bigger regulatory and legal crackdown aimed at abuses and outright fraud in the growing digital currency industry. The SEC said it settled separate cases with start-ups companies Airfox and Paragon, which raised more than $10 million each in initial coin offerings that weren’t registered. The settlement comes a week after the agency not
In bigger crackdown of crypto abuses, SEC goes after unregistered coin offerings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: kate rooney, adam jeffery
Keywords: news, cnbc, companies, judge, goes, statement, fraud, zaslavskiy, abuses, crypto, digital, crackdown, securities, investors, coin, bigger, unregistered, offerings, sec


In bigger crackdown of crypto abuses, SEC goes after unregistered coin offerings

The Securities and Exchange Commission announced its first civil penalties on Friday against crypto founders who failed to register new coin offerings, part of a bigger regulatory and legal crackdown aimed at abuses and outright fraud in the growing digital currency industry.

The SEC said it settled separate cases with start-ups companies Airfox and Paragon, which raised more than $10 million each in initial coin offerings that weren’t registered. They have agreed to pay penalties, register their tokens as securities, file periodic reports with the agency and return funds to any harmed investors, according to the SEC.

The settlement comes a week after the agency notched another “first,” setting charges that a crypto firm called EtherDelta was operating as an unregistered exchange.

The cases underscore the SEC’s insistence that the relatively new digital financial products must follow traditional securities rules.

“We have made it clear that companies that issue securities through ICOs are required to comply with existing statutes and rules governing the registration of securities,” Stephanie Avakian, the SEC’s co-director of enforcement, said in a statement. “These cases tell those who are considering taking similar actions that we continue to be on the lookout for violations of the federal securities laws with respect to digital assets.”

On Thursday, federal prosecutors in New York announced a guilty plea by a man who defrauded investors with two cryptocurrencies he founded during the initial coin offering boom.

Maksim Zaslavkiy, pleaded guilty to conspiracy to commit securities fraud after raising money for two virtual currencies known as “REcoin” and “Diamond.” Zaslavskiy admitted to tricking investors into buying the digital tokens by claiming they were backed by real estate and diamonds.

In reality, the certificates he sent to investors were not backed by blockchain technology. Zaslavskiy also had none of the promised jewels or land to back those investments, according a statement from the Department of Justice.

Thirty nine-year-old Zaslavkiy tried earlier this year to dismiss the case against him by arguing that cryptocurrencies he created were not securities for the purpose of criminal law. That was shot down by a judge in Brooklyn in September.

A key part of Zaslavkiy’s argument at the time was that current laws around crypto are “unconstitutionally vague.” U.S. district judge Raymond Dearie disagreed. The judge stopped short of defining RECoin and Diamond as securities, but Dearie did say the jury should be able to assess them using existing laws.

“The calculated lies of Zaslavskiy and others led unsuspecting investors who thought they were purchasing cryptocurrency securities to buy worthless certificates,” United States Attorney for the Eastern District of New York, Richard P. Donoghue said in a statement. “This Office will continue to aggressively prosecute those who exploit and defraud investors, whether through traditional means of securities fraud, or new forms – such as the use of purported cryptocurrency offerings and blockchain technology.”


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: kate rooney, adam jeffery
Keywords: news, cnbc, companies, judge, goes, statement, fraud, zaslavskiy, abuses, crypto, digital, crackdown, securities, investors, coin, bigger, unregistered, offerings, sec


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