Optimism is rising that some sort of US-China trade deal is coming — here’s what we know

The U.S. and China appear close to a limited trade deal, leaving more controversial issues for later negotiations. The trade talks, which President Donald Trump said were “going really well,” extended into the second day on Friday. Trump again gave an optimistic read on the talks on Friday, saying in a tweet “Good things are happening at China Trade Talk Meeting. Day two of the talks now includes a key meeting between Trump and Chinese Vice Premier Liu He, which is scheduled to take place at 2:4


The U.S. and China appear close to a limited trade deal, leaving more controversial issues for later negotiations. The trade talks, which President Donald Trump said were “going really well,” extended into the second day on Friday. Trump again gave an optimistic read on the talks on Friday, saying in a tweet “Good things are happening at China Trade Talk Meeting. Day two of the talks now includes a key meeting between Trump and Chinese Vice Premier Liu He, which is scheduled to take place at 2:4
Optimism is rising that some sort of US-China trade deal is coming — here’s what we know Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: yun li
Keywords: news, cnbc, companies, optimism, sort, talks, trade, issues, uschina, agriculture, heres, deal, coming, meeting, trump, scheduled, delay, buying, china, rising, know


Optimism is rising that some sort of US-China trade deal is coming — here's what we know

The U.S. and China appear close to a limited trade deal, leaving more controversial issues for later negotiations.

The trade talks, which President Donald Trump said were “going really well,” extended into the second day on Friday. A slew of media reports overnight suggest that the world’s two largest economies could agree to a partial agreement on issues such as currency and agriculture buying, and it could also include a delay in the tariff hike scheduled for next week.

Trump again gave an optimistic read on the talks on Friday, saying in a tweet “Good things are happening at China Trade Talk Meeting. Warmer feelings than in recent past.”

Day two of the talks now includes a key meeting between Trump and Chinese Vice Premier Liu He, which is scheduled to take place at 2:45 p.m. ET. The additional meeting renewed hopes for positive trade progress as past meetings between the two have yielded a delay in tariffs and agriculture buying.


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: yun li
Keywords: news, cnbc, companies, optimism, sort, talks, trade, issues, uschina, agriculture, heres, deal, coming, meeting, trump, scheduled, delay, buying, china, rising, know


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These are Bill Gates’ 2 superpowers, according to Bill Gates

Bill Gates is the second-richest person in the world, but according to the Microsoft co-founder, his “superpowers” have nothing to do with making billions of dollars. Gates sat down with Devin Thorpe, a Forbes contributor and host of the “Your Mark on the World” podcast, for an interview in May, in which Thorpe asked the billionaire which of his own traits Gates would describe as his “superpower.” In his response, Gates didn’t tout his abilities as a software developer, or as the co-founder of o


Bill Gates is the second-richest person in the world, but according to the Microsoft co-founder, his “superpowers” have nothing to do with making billions of dollars. Gates sat down with Devin Thorpe, a Forbes contributor and host of the “Your Mark on the World” podcast, for an interview in May, in which Thorpe asked the billionaire which of his own traits Gates would describe as his “superpower.” In his response, Gates didn’t tout his abilities as a software developer, or as the co-founder of o
These are Bill Gates’ 2 superpowers, according to Bill Gates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: tom huddleston jr
Keywords: news, cnbc, companies, optimism, superpower, superpowers, bill, software, thorpe, gates, world, teams, according, scientific, working


These are Bill Gates' 2 superpowers, according to Bill Gates

Bill Gates is the second-richest person in the world, but according to the Microsoft co-founder, his “superpowers” have nothing to do with making billions of dollars.

Gates sat down with Devin Thorpe, a Forbes contributor and host of the “Your Mark on the World” podcast, for an interview in May, in which Thorpe asked the billionaire which of his own traits Gates would describe as his “superpower.” In his response, Gates didn’t tout his abilities as a software developer, or as the co-founder of one of the world’s largest companies.

What did he say? His optimism and his ability to put together great teams.

“If I have [a superpower], it has something to do with optimism about scientific innovation,” Gates told Thorpe. The billionaire recently put that optimism on display in a recent lecture at the University of Cambridge, in which Gates predicted that investment in scientific innovations will result in the end of global malnutrition and the eradication of malaria by 2040.

He also named “being able to gather teams of people” as another of his “superpowers” in relation to his work with the Bill & Melinda Gates Foundation, where Gates and his wife oversee teams of strategists, researchers and other partners working on issues ranging from global poverty and malnutrition to working to eradicate diseases like malaria and HIV/AIDS. (The foundation has nearly 1,500 employees around the world and an endowment of more than $46 billion.)

Gates’ team-building skills evolved during his time at Microsoft, where he was “assembling teams of engineers and understanding what was on track/off track, being patient for things that, in that case, usually took five or six years,” he tells Thorpe about the process of shepherding software projects to completion at the company he co-founded in 1975 and helped grow into a trillion-dollar business.


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: tom huddleston jr
Keywords: news, cnbc, companies, optimism, superpower, superpowers, bill, software, thorpe, gates, world, teams, according, scientific, working


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China tempers optimism for a trade deal, says ‘stay tuned’ for blacklist retaliation

Chinese President Xi Jinping (R) and US President Donald Trump attend their bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019. Chinese Foreign Ministry spokesman Geng Shuang said Tuesday “stay tuned,” when asked whether China would retaliate over the blacklist over alleged human rights violations against Muslim minorities. The comments deepened the tensions between the two economic superpowers before they resume high-level trade talks on Thursday. The White House is


Chinese President Xi Jinping (R) and US President Donald Trump attend their bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019. Chinese Foreign Ministry spokesman Geng Shuang said Tuesday “stay tuned,” when asked whether China would retaliate over the blacklist over alleged human rights violations against Muslim minorities. The comments deepened the tensions between the two economic superpowers before they resume high-level trade talks on Thursday. The White House is
China tempers optimism for a trade deal, says ‘stay tuned’ for blacklist retaliation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: yun li
Keywords: news, cnbc, companies, tuned, retaliate, chinese, foreign, retaliation, white, president, china, optimism, blacklist, trade, stay, geng, talks, tempers, house, deal


China tempers optimism for a trade deal, says 'stay tuned' for blacklist retaliation

Chinese President Xi Jinping (R) and US President Donald Trump attend their bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019.

China poured cold water on hopes for a trade deal, signaling it would retaliate against the U.S. threat to put Chinese tech companies on a blacklist, just two days ahead of the highly-anticipated trade talks in Washington.

Chinese Foreign Ministry spokesman Geng Shuang said Tuesday “stay tuned,” when asked whether China would retaliate over the blacklist over alleged human rights violations against Muslim minorities.

“We urge the U.S. to immediately correct its mistake, withdraw the relevant decision and stop interfering in China’s internal affairs,” Geng said at a press conference according to a transcript on the foreign ministry’s website. “China will continue to take firm and forceful measures to resolutely safeguard national sovereignty, security and development interests.”

The comments deepened the tensions between the two economic superpowers before they resume high-level trade talks on Thursday. The White House is also reportedly discussing blocking government pension funds from investing in China, further dimming the expectations for a resolution. White House trade policy director Peter Navarro denied the reports however, calling them “fake news.”


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: yun li
Keywords: news, cnbc, companies, tuned, retaliate, chinese, foreign, retaliation, white, president, china, optimism, blacklist, trade, stay, geng, talks, tempers, house, deal


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Optimism about the economy falls to three-year low, CNBC All-America Economic Survey finds

Americans’ attitudes toward the economy took a sharp turn downward in the third quarter, according to the CNBC All-America Economic Survey, with just 23% believing the economy will improve in the next year, the lowest level of optimism in three years. “October 2018 was the apex of the Trump economy,” said Micah Roberts, partner with Public Opinion Strategies and the Republican pollster for CNBC. This could be the beginning of a new Trump economy.” The surge in the economic outlook that accompan


Americans’ attitudes toward the economy took a sharp turn downward in the third quarter, according to the CNBC All-America Economic Survey, with just 23% believing the economy will improve in the next year, the lowest level of optimism in three years. “October 2018 was the apex of the Trump economy,” said Micah Roberts, partner with Public Opinion Strategies and the Republican pollster for CNBC. This could be the beginning of a new Trump economy.” The surge in the economic outlook that accompan
Optimism about the economy falls to three-year low, CNBC All-America Economic Survey finds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-03  Authors: steve liesman
Keywords: news, cnbc, companies, trump, public, rating, economy, economic, threeyear, optimism, finds, outlook, worse, president, low, falls, survey, allamerica


Optimism about the economy falls to three-year low, CNBC All-America Economic Survey finds

President Donald J. Trump participates in a ceremonial Swearing-In of the Secretary of Labor Gene Scalia in the Oval Office at the White House on Monday, Sept 30, 2019 in Washington, DC.

Americans’ attitudes toward the economy took a sharp turn downward in the third quarter, according to the CNBC All-America Economic Survey, with just 23% believing the economy will improve in the next year, the lowest level of optimism in three years.

The good news: Views on the current state of the economy (compared with the outlook) slid only modestly, with 48% of the public rating the economy as excellent or good, down from 51% in May, and 49% rating the economy as fair or poor, up just a point.

But with only 23% expecting economy to improve and 32% believing it will get worse, the poll marks the first time in the Trump presidency that economic pessimism outstrips optimism.

“October 2018 was the apex of the Trump economy,” said Micah Roberts, partner with Public Opinion Strategies and the Republican pollster for CNBC. “There might be a new apex, but so far, that has been the point at which everything was going the best. … This could be the beginning of a new Trump economy.”

The optimism gauge has been trending down over the year, but the 7-point decline in from the prior survey is the biggest quarterly drop since 2011. The surge in the economic outlook that accompanied the election of President Donald Trump, which grew and then sustained over a nearly two-year period, has now been completely erased.

Stocks declined for a third day on Thursday after a reading of the services economy came in much worse than expected.


Company: cnbc, Activity: cnbc, Date: 2019-10-03  Authors: steve liesman
Keywords: news, cnbc, companies, trump, public, rating, economy, economic, threeyear, optimism, finds, outlook, worse, president, low, falls, survey, allamerica


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Treasury yields rise amid cautious trade optimism

China is not the only one that has to change its practices:… The U.S. also has to re-look the way it’s engaging with China to address its complaints, said Stephen Roach, a senior fellow at Yale University. Politicsread more


China is not the only one that has to change its practices:… The U.S. also has to re-look the way it’s engaging with China to address its complaints, said Stephen Roach, a senior fellow at Yale University. Politicsread more
Treasury yields rise amid cautious trade optimism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: elliot smith
Keywords: news, cnbc, companies, universitypoliticsread, relook, roach, trade, china, rise, fellow, yale, way, cautious, treasury, amid, senior, stephen, practicesthe, yields, optimism


Treasury yields rise amid cautious trade optimism

China is not the only one that has to change its practices:…

The U.S. also has to re-look the way it’s engaging with China to address its complaints, said Stephen Roach, a senior fellow at Yale University.

Politics

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: elliot smith
Keywords: news, cnbc, companies, universitypoliticsread, relook, roach, trade, china, rise, fellow, yale, way, cautious, treasury, amid, senior, stephen, practicesthe, yields, optimism


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Masayoshi Son’s unyielding optimism — and lack of challengers — led SoftBank to overvalue WeWork, sources say

So how did SoftBank CEO Masayoshi Son and his lieutenants decide WeWork was worth $47 billion, a number public market investors viewed as nearly four times too high? SoftBank has put money in WeWork several times, including a $4.4 billion investment in 2017 at a valuation of about $20 billion. That’s still far more than the likely public market valuation of WeWork, which had fallen as low as $10 billion, Reuters reported two weeks ago. ‘They thought they could flip it’WeWork’s botched plan to go


So how did SoftBank CEO Masayoshi Son and his lieutenants decide WeWork was worth $47 billion, a number public market investors viewed as nearly four times too high? SoftBank has put money in WeWork several times, including a $4.4 billion investment in 2017 at a valuation of about $20 billion. That’s still far more than the likely public market valuation of WeWork, which had fallen as low as $10 billion, Reuters reported two weeks ago. ‘They thought they could flip it’WeWork’s botched plan to go
Masayoshi Son’s unyielding optimism — and lack of challengers — led SoftBank to overvalue WeWork, sources say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-25  Authors: alex sherman
Keywords: news, cnbc, companies, sources, overvalue, billion, wework, masayoshi, unyielding, softbank, public, fund, optimism, led, vision, sama, son, say, valuation, sons


Masayoshi Son's unyielding optimism — and lack of challengers — led SoftBank to overvalue WeWork, sources say

Corp. Chief Executive Officer Masayoshi Son speaks during a joint announcement with Toyota Motor Corp. to make new venture to develop mobility services in Tokyo, Japan, 04 October 2018. Alessandro Di Ciommo | NurPhoto | Getty Images

The whole WeWork debacle, from the botched IPO to the removal this week of Adam Neumann as CEO, may have been avoided if SoftBank had simply valued the company more like a real-estate business and less like a high-growth tech company. So how did SoftBank CEO Masayoshi Son and his lieutenants decide WeWork was worth $47 billion, a number public market investors viewed as nearly four times too high? The answer is a combination of abounding optimism from Son, SoftBank president Ron Fisher and Vision Fund chief Rajeev Misra, and the elimination of dissenting viewpoints around Son, according to people familiar with the matter, who asked not to be named because the valuation discussions were private. A spokesperson at SoftBank declined to comment. It’s not exactly fair to say SoftBank was on the hook at $47 billion, as only $1 billion of its $10.65 billion investment in the company came at that valuation. SoftBank has put money in WeWork several times, including a $4.4 billion investment in 2017 at a valuation of about $20 billion. That’s still far more than the likely public market valuation of WeWork, which had fallen as low as $10 billion, Reuters reported two weeks ago.

‘They thought they could flip it’

WeWork’s botched plan to go public is the latest example of financial realities clashing with Masayoshi Son’s 300-year vision and the long-term investment thesis of his $100 billion Vision Fund. At one point, Son’s optimism about WeWork was countered by dissenting voices, such as Nikesh Arora and Alok Sama, according to people familiar with the matter. But Arora departed SoftBank in 2016 after serving as SoftBank’s president for two years, reportedly after Son told him he wasn’t planning on giving up his job as CEO for another five to 10 years. Sama departed earlier this year after serving as president and chief financial officer of SoftBank Group International after being barred from working on the Vision Fund, a result of a mysterious shareholder campaign that sought to oust both Sama and Arora, The Wall Street Journal reported last year. While the Vision Fund has brought in veteran bankers and investors including Deep Nishar, Jeff Housenbold and Michael Ronen in recent years, Son’s opinion on investments is the only one that truly matters, and he’s less likely to be challenged than before, according to people familiar with the fund’s operations.


Company: cnbc, Activity: cnbc, Date: 2019-09-25  Authors: alex sherman
Keywords: news, cnbc, companies, sources, overvalue, billion, wework, masayoshi, unyielding, softbank, public, fund, optimism, led, vision, sama, son, say, valuation, sons


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US–China trade war optimism? Big companies are not buying it

If you follow the markets, there’s been recent reason for optimism about a U.S.-China trade deal. The quarterly survey finds CFOs around the world increasingly are worried about U.S. trade policy as a business risk factor. If a trade deal remains elusive, even that stability may not last long. — CNBC Global CFO Survey Q3 U.S. CFOs taking the survey did reveal significant concerns about the trade war in other responses. Impact of trade tensions new new U.S. tariffs—CNBC Global CFO Survey Q3 The d


If you follow the markets, there’s been recent reason for optimism about a U.S.-China trade deal. The quarterly survey finds CFOs around the world increasingly are worried about U.S. trade policy as a business risk factor. If a trade deal remains elusive, even that stability may not last long. — CNBC Global CFO Survey Q3 U.S. CFOs taking the survey did reveal significant concerns about the trade war in other responses. Impact of trade tensions new new U.S. tariffs—CNBC Global CFO Survey Q3 The d
US–China trade war optimism? Big companies are not buying it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: eric rosenbaum, anthony volastro
Keywords: news, cnbc, companies, buying, china, big, companies, deal, survey, business, optimism, president, risk, trade, policy, cfo, cfos, war, uschina


US–China trade war optimism? Big companies are not buying it

If you follow the markets, there’s been recent reason for optimism about a U.S.-China trade deal. Some investors are buying it — literally — with recent gains in stocks attributed to positive signals from the U.S. and China after a volatile August. But there’s one group of market insiders not buying the talk: corporate executives. In other words, the people who run the companies whose publicly traded shares have been rebounding. Top executives in the U.S. and around the world are not placing bets that the U.S.-China trade war will be resolved anytime soon. In fact, corporations say they expect to feel the pain of trade tensions over the next six months, according to the third-quarter CNBC Global CFO Council survey. The quarterly survey finds CFOs around the world increasingly are worried about U.S. trade policy as a business risk factor. Chief financial officers also downgraded their view of the U.S. economy, from “improving” to “stable.” If a trade deal remains elusive, even that stability may not last long. “With this level of uncertainty between the U.S. and China, I would think ‘stable’ might actually be a win a couple of quarters from now,” said Jack McCullough, president and founder of the CFO Leadership Council, an executive networking group. “I cannot recall when CFOs were as jittery about a change in policy as they are today.” The CNBC Global CFO Council represents some of the largest public and private companies in the world, collectively managing more than $5 trillion in market value across a wide variety of sectors. The Q3 2019 survey was conducted between Aug. 21 and Sept. 3 among 62 global members of the council.

Trade is the biggest risk factor

Thirty-five percent of CFOs cited U.S. trade policy as the “biggest external risk factor,” which was more than double the second biggest risk highlighted: “consumer demand.” Fears about trade were up from 22% in the second quarter. There was an important split between U.S. CFOs and those based around the world. Thirty-five percent of U.S. CFOs cited consumer demand as the top external risk factor, which can be explained by the fact that the resilience of the U.S. economy, in spite of slowdowns in Europe and China, has been based on consumer strength. What is the biggest external risk factor currently facing your business? — CNBC Global CFO Survey Q3 U.S. CFOs taking the survey did reveal significant concerns about the trade war in other responses. About sixty-five percent said trade policy will be a negative for their business over the next six months. In Q2 that had dropped to 40% — possibly due to a prevailing and false sense of security that a deal would be easier to achieve than has proven to be the case — but it is now back up to a level consistent with the Q3 2018 through Q1 2019 surveys. “The surprise may be that only about 65% of CFOs view that trade policy will be a negative for their organizations,” McCullough said. “While at a macro level it’s easy to understand the motivation behind the recent policy changes, I can’t find a single CFO who has told me it would be a positive for his or her business. … It is uniformly negative for their business, at least in the eyes of finance chiefs.”

While at a macro level it’s easy to understand the motivation behind the recent policy changes, I can’t find a single CFO who has told me it would be a positive for his or her business. Jack McCullough president and founder, CFO Leadership Council

McCullough noted that his networking group offers an online forum for more than 1,100 chief financial officers to discuss issues of importance to their business. He said there never has been a question that he can recall about government policy that has dominated discussion as much as the trade policy has recently. That discussion has included whether manufacturing is moving and strategies for dealing with tariffs. “It is top of mind, and they are not confident they will emerge from this unscathed,” he said. Nearly half of North American CFOs surveyed by CNBC said they are facing higher input costs, and more than one-quarter said they have increased prices to offset those costs. They were more likely than European or Asian counterparts to say they have experienced higher costs and passed on those costs to customers. And more likely to say they have moved operations to minimize the impact of tariffs, though that was less than 20% of CFO respondents. While U.S. CFOs indicated in the survey that they were not confident about increasing their capital spend, less than 10% said they had delayed or canceled projects because of trade policy. Impact of trade tensions new new U.S. tariffs—CNBC Global CFO Survey Q3 The daily headlines can be tougher to measure. On Thursday alone, news broke that the U.S. and China were considering an interim trade deal, but a few minutes later a senior White House official told CNBC no such deal was in the works. President Donald Trump did agree to delay increasing tariffs on $250 billion worth of Chinese goods from Oct. 1 to Oct. 15 as a “gesture of goodwill,” and that move was matched by China, which said it would restart purchase of some U.S. agricultural products. Then later in the day, President Trump told reporters he would be open to an interim trade deal with China but would prefer a lasting deal. “It’s something we would consider, I guess,” Trump said. The U.S. and China have agreed to meet again at the negotiating table in October, a plan that was reported after an early September phone call between Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. CFOs view of the trade war is not yet influencing their thinking about President Trump’s reelection chances. The survey found the majority of CFOs of the belief that Trump will be reelected in 2020 and the U.S. economy will not slip into a recession next year.

Trade weighing on business investment


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: eric rosenbaum, anthony volastro
Keywords: news, cnbc, companies, buying, china, big, companies, deal, survey, business, optimism, president, risk, trade, policy, cfo, cfos, war, uschina


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China adds US agricultural products to tariff exemptions ahead of trade talks

US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more


US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more
China adds US agricultural products to tariff exemptions ahead of trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: yun li, eric rosenbaum
Keywords: news, cnbc, companies, china, soon, ahead, resolved, think, tariff, agricultural, overcnbc, products, adds, talks, sixtyfive, optimism, trade, exemptions, policy, war, uschina


China adds US agricultural products to tariff exemptions ahead of trade talks

US–China trade war optimism? Big companies are not buying it

Top executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…

CNBC Global CFO Council

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Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: yun li, eric rosenbaum
Keywords: news, cnbc, companies, china, soon, ahead, resolved, think, tariff, agricultural, overcnbc, products, adds, talks, sixtyfive, optimism, trade, exemptions, policy, war, uschina


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Sterling soars to 7-week high on optimism of a Brexit breakthrough

Sterling is now up more than 4% versus the dollar since September 3, when it reached a three-year low. The main driver behind buying appeared to be a newspaper report in The Times newspaper that suggested that the Democratic Unionist Party is softening its opposition to a Northern Ireland-only backstop. Foster again discredited the prospect of a Northern Ireland-only backstop on Friday and derided the Times report, stating “anonymous sources lead to nonsense stories.” Kit Juckes, chief foreign e


Sterling is now up more than 4% versus the dollar since September 3, when it reached a three-year low. The main driver behind buying appeared to be a newspaper report in The Times newspaper that suggested that the Democratic Unionist Party is softening its opposition to a Northern Ireland-only backstop. Foster again discredited the prospect of a Northern Ireland-only backstop on Friday and derided the Times report, stating “anonymous sources lead to nonsense stories.” Kit Juckes, chief foreign e
Sterling soars to 7-week high on optimism of a Brexit breakthrough Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: david reid
Keywords: news, cnbc, companies, traders, breakthrough, short, newspaper, positions, sterling, soars, optimism, report, opposition, northern, london, brexit, times, 7week, high


Sterling soars to 7-week high on optimism of a Brexit breakthrough

Sterling rose to its highest level since late July on Friday as momentum appeared to swell behind the idea that Britain won’t leave the European Union without a formal deal.

Shortly after11 a.m. in London, the pound had risen 1% for the session to reach $1.2456. Sterling is now up more than 4% versus the dollar since September 3, when it reached a three-year low.

The main driver behind buying appeared to be a newspaper report in The Times newspaper that suggested that the Democratic Unionist Party is softening its opposition to a Northern Ireland-only backstop.

The DUP has long rejected the backstop — an insurance policy against any hard border within Ireland — as any part of the Brexit process. DUP leader Arlene Foster once described her party’s opposition as a “blood red” line.

Foster again discredited the prospect of a Northern Ireland-only backstop on Friday and derided the Times report, stating “anonymous sources lead to nonsense stories.”

Despite that rebuttal, sterling clung on to its gains and even took a further leg higher.

Kit Juckes, chief foreign exchange strategist at Societe Generale, said in his daily research note Friday that the Times report had triggered some traders to cover off their short positions on sterling. Short positions are where traders bet against an asset, believing it will fall in price, in order to make a profit.

Juckes cautioned that it was now “very late in the day” for U.K. Prime Minister Boris Johnson to arrange a fresh deal that would satisfy lawmakers in Belfast, London and Brussels.


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: david reid
Keywords: news, cnbc, companies, traders, breakthrough, short, newspaper, positions, sterling, soars, optimism, report, opposition, northern, london, brexit, times, 7week, high


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Dropcam founder Greg Duffy reportedly leaves Apple

US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more


US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more
Dropcam founder Greg Duffy reportedly leaves Apple Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-12  Authors: kif leswing
Keywords: news, cnbc, companies, soon, leaves, resolved, dropcam, apple, think, founder, overcnbc, sixtyfive, optimism, reportedly, trade, duffy, policy, war, uschina, greg


Dropcam founder Greg Duffy reportedly leaves Apple

US–China trade war optimism? Big companies are not buying it

Top executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…

CNBC Global CFO Council

read more


Company: cnbc, Activity: cnbc, Date: 2019-09-12  Authors: kif leswing
Keywords: news, cnbc, companies, soon, leaves, resolved, dropcam, apple, think, founder, overcnbc, sixtyfive, optimism, reportedly, trade, duffy, policy, war, uschina, greg


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