From live jazz to jet lag rooms: Here are the coolest new things about flying in 2020

Flights: Craft beer and farm-to-table mealsWine has always been a priority in premium cabins, but craft beer is having an in-flight moment. SAS Scandinavian Airlines now serves more than a dozen types of craft beer from Copenhagen microbrewery Mikkeller. Cathay Pacific offers its own craft brew called Betsy Beer, which was created for high altitudes as well. When it comes to sleep, Cathay Pacific first-class passengers can choose from a pillow menu while enjoying new bedding with 600-thread coun


Flights: Craft beer and farm-to-table mealsWine has always been a priority in premium cabins, but craft beer is having an in-flight moment.
SAS Scandinavian Airlines now serves more than a dozen types of craft beer from Copenhagen microbrewery Mikkeller.
Cathay Pacific offers its own craft brew called Betsy Beer, which was created for high altitudes as well.
When it comes to sleep, Cathay Pacific first-class passengers can choose from a pillow menu while enjoying new bedding with 600-thread coun
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Company: cnbc, Activity: cnbc, Date: 2020-01-08  Authors: ramsey qubein
Keywords: news, cnbc, companies, craft, pacific, lounge, coolest, travelers, rooms, lag, 2020, cathay, live, jazz, airlines, airport, flying, jet, courtesy, beer, passengers, things


From live jazz to jet lag rooms: Here are the coolest new things about flying in 2020

The next time you take to the skies, pay close attention. Airlines are constantly evolving to attract new customers and keep loyal travelers coming back. Here are some of the most interesting innovations coming to airports in the new year.

Lounges: Jet lag zones and barbecue decks

Airlines are upping the wow factor before travelers step foot on a plane. Finnair’s new Nordic-inspired Platinum Lounge in Helsinki counts a Finnish sauna among its amenities, while Cathay Pacific’s The Pier lounge in Hong Kong offers The Sanctuary by Pure Yoga, a 700 square-foot area divided into two zones for yoga and meditation. The same lounge also features a tea house serving artisanal Chinese teas. KLM’s new Amsterdam Schiphol lounge features a sunset light wall designed to simulate the Dutch sky and help travelers adjust to the local time zone. Of course, they can get fresh air by visiting the alfresco plane-spotting deck too. Two virtual reality cabins help those who want to feel like they are somewhere else entirely.

SAS’s jet lag recovery room. Courtesy of SAS

Scandinavian Airlines recently updated its Copenhagen flagship lounge to feature an innovative “Daylight Booster Zone” delivering light therapy meant to get passengers’ circadian rhythms back on track. The lights are adjustable for stimulation or relaxation, based on how far passengers are traveling or how long they want to stay awake. Qantas opened an outdoor barbecue deck in its Perth lounge, so passengers can catch some sun and fresh air before long-haul flights, like its 17-hour nonstop flight to London introduced last year. Japan Airlines’ renewed first class lounges at Tokyo’s Narita and Haneda airports feature live sushi counters with rolls made to order. The airline has also launched halal-certified cuisine in its lounges and now serves yuzu and salt-flavored ramen from famed ramen shop Afuri.

Japan Airlines sushi counter. Courtesy of Japan Airlines

Turkish Airlines’ new lounge in Istanbul showcases 38 pieces of modern art from the Istanbul Museum of Modern Art; it will be updated three times a year. And to celebrate Belgian pralines, Brussels Airlines’ flagship lounge, The Loft, has a Neuhaus master chocolatier making customized pralines for travelers in Brussels to enjoy or take along as gifts.

Flights: Craft beer and farm-to-table meals

Wine has always been a priority in premium cabins, but craft beer is having an in-flight moment. SAS Scandinavian Airlines now serves more than a dozen types of craft beer from Copenhagen microbrewery Mikkeller. The beer is designed exclusively for flights, with high elevation and cabin conditions — such as pressure, oxygen and humidity — in mind. Cathay Pacific offers its own craft brew called Betsy Beer, which was created for high altitudes as well.

Singapore Airlines’ AeroFarm facility. Courtesy of AeroFarm

Singapore Airlines is working with the vertical farming company AeroFarms to bring farm-to-table ingredients onboard. A facility near Newark airport creates the equivalent of 390 acres of fresh produce to support the airline’s Newark to Singapore flight. Grown aeroponically, the produce is grown in a matter of days with 95% less water and a fraction of the fertilizers of conventional farming, according to AeroFarms. When it comes to sleep, Cathay Pacific first-class passengers can choose from a pillow menu while enjoying new bedding with 600-thread count linens. Business class passengers can sleep more soundly with a new mattress pad and two-piece duvet.

Cathay Pacific luxury bedding. Courtesy of Cathay Pacific

Air New Zealand passengers flying to and from Chicago can enjoy a special cooling pillow with Outlast technology — the same material NASA uses in astronaut gloves to keep hands cool. In a first for a U.S. carrier, Hawaiian Airlines is using technology to give scientists real-time access to pollution levels over vast expanses of the Pacific Ocean. And on the plane, Hawaiian is airing an in-flight video to educate visitors on the impact of sunscreen on Hawaii’s coral reefs.

Airports: Jazz bands and first-class seats up for bids

United fliers have a new way to exchange currencies and score bonus miles. In connection with Travelex, passengers can earn miles for currency exchanges — both in the airport or online — so they can arrive in a foreign country with local currency in hand.

Live jazz at New Orleans’ new airport. Courtesy of Louis Armstrong New Orleans International Airport

At the new Louis Armstrong New Orleans International Airport, travelers are welcomed via a “jazz garden” with live bands performing in the baggage claim area. Travelers can also avoid long lines in the city by stopping for Café du Monde’s famous beignets in the terminal. Etihad Airways is trialing autonomous wheelchairs in Abu Dhabi which will eliminate the need for porters; the wheelchairs feature sensors to detect obstructions.

Etihad’s autonomous wheelchairs. Courtesy of Etihad Airways


Company: cnbc, Activity: cnbc, Date: 2020-01-08  Authors: ramsey qubein
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Illumina abandons $1.2 billion deal to buy rival Pacific Biosciences

Gene sequencing company Illumina on Thursday agreed to terminate the $1.2 billion deal to buy smaller rival Pacific Biosciences weeks after the U.S. competition watchdog filed a complaint to block the purchase. Gene sequencing company Illumina would pay Pacific Biosciences $98 million for the terminated deal, which was announced in 2018 and had attracted scrutiny from antitrust authorities in the United States and UK, both the companies said in a joint statement. Illumina is a major player in th


Gene sequencing company Illumina on Thursday agreed to terminate the $1.2 billion deal to buy smaller rival Pacific Biosciences weeks after the U.S. competition watchdog filed a complaint to block the purchase.
Gene sequencing company Illumina would pay Pacific Biosciences $98 million for the terminated deal, which was announced in 2018 and had attracted scrutiny from antitrust authorities in the United States and UK, both the companies said in a joint statement.
Illumina is a major player in th
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Illumina abandons $1.2 billion deal to buy rival Pacific Biosciences

Gene sequencing company Illumina on Thursday agreed to terminate the $1.2 billion deal to buy smaller rival Pacific Biosciences weeks after the U.S. competition watchdog filed a complaint to block the purchase.

Gene sequencing company Illumina would pay Pacific Biosciences $98 million for the terminated deal, which was announced in 2018 and had attracted scrutiny from antitrust authorities in the United States and UK, both the companies said in a joint statement.

Illumina is a major player in the nascent gene sequencing space, which involves analyzing the genome, and can among other uses, identify inherited disorders and markers of disease progression.

In its complaint last month, the U.S. Federal Trade Commission raised concerns that Illumina wanted the deal in order to prevent Pacific Biosciences from developing into a competitor in the market for next-generation DNA sequencing.

Illumina laid off 58 people from its staff of more than 8,000 in September, according to publicly available filings previously reported by CNBC, after shares took a hit in July when the company slashed its full-year guidance and previewed disappointing second-quarter revenue.

CNBC contributed to this report.


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India says no to joining huge Asia Pacific trade pact

Negotiations for the trade pact began in 2013 and India’s reluctance to open up its markets has been one of the major obstacles over time. Singh also did not say if India would consider joining the trade pact at a later date. What this meansThe trade pact is due to be signed next year, according to Thailand. She explained affirmation to the free movement of goods, services, and capital within the region would help maintain ASEAN’s centrality in global trade. They added the Indian government will


Negotiations for the trade pact began in 2013 and India’s reluctance to open up its markets has been one of the major obstacles over time.
Singh also did not say if India would consider joining the trade pact at a later date.
What this meansThe trade pact is due to be signed next year, according to Thailand.
She explained affirmation to the free movement of goods, services, and capital within the region would help maintain ASEAN’s centrality in global trade.
They added the Indian government will
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India says no to joining huge Asia Pacific trade pact

India’s Prime Minister Narendra Modi shakes hands with China’s Premier Li Keqiang during the 3rd Regional Comprehensive Economic Partnership (RCEP) Summit in Bangkok on November 4, 2019. Manan Vatsyayana | AFP | Getty Images

India on Monday declined to join an Asia Pacific trade pact that would form a major trading bloc involving the region’s top economies and cover nearly a third of the world’s gross domestic product. The Regional Comprehensive Economic Partnership was an agreement between the 10-member Association of Southeast Asian Nations and six of its large trading partners: China, Japan, South Korea, India, Australia, and New Zealand. Negotiations for the trade pact began in 2013 and India’s reluctance to open up its markets has been one of the major obstacles over time. Vijay Thakur Singh, a diplomat in charge of East Asian relations for India at the Ministry of External Affairs, said on Monday that India conveyed its decision to not join the RCEP agreement to other member states. Leaders from member states were in Thailand for a number of summits including the 35th ASEAN Summit. “This reflects both our assessment of the current global situation as well as of the fairness and balance of the agreement,” Singh told reporters in Bangkok, during a press briefing. “India had significant issues of core interest that remained unresolved.” “In the given circumstances, we believe that not joining the agreement is the right decision for India. We would continue to persevere and strengthening our trade, investment and people-to-people relations with this region,” Singh said.

With trade frictions still dominating the global narrative, Asia needs to look inwards and strengthen regional integration for sustaining and propelling growth. Priyanka Kishore Oxford Economics

She declined to expand on what some of those core unresolved interests were at the briefing but added that participating countries were aware of them. Singh also did not say if India would consider joining the trade pact at a later date. “Despite significant concessions and offers of safeguard measures from China, India remains concerned about the potential surge of Chinese imports and what it argues is a lack of progress on its offensive interests, notably services market access,” analysts at political consultancy Eurasia Group, wrote in a note Monday note. India is already facing a challenging economic environment: growth is slowing, many of its sectors including manufacturing are struggling, and there are difficulties in creating enough jobs to keep new entrants to the workforce employed.

What this means

The trade pact is due to be signed next year, according to Thailand. Text for the RCEP agreement is said to have been completed and is awaiting legal reviews before member countries sign the document. Analysts have said that worries over the ongoing U.S.-China trade war, rising American protectionism, and a global economic slowdown added impetus to the negotiations. “With trade frictions still dominating the global narrative, Asia needs to look inwards and strengthen regional integration for sustaining and propelling growth,” Priyanka Kishore, head of India and South East Asia for macro and investor services at Oxford Economics, told CNBC before India announced its decision on Monday.

She explained affirmation to the free movement of goods, services, and capital within the region would help maintain ASEAN’s centrality in global trade. That would lead to renewed economic opportunities, support domestic job creation and help countries sustain strong growth in the long run. Kishore, as well as other experts, have previously said being part of RCEP would help India integrate better into global supply chains. Eurasia Group analysts added that under RCEP, market access, especially for services, and regulatory requirements will be lighter than under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership — the trade pact which replaced the Trans-Pacific Partnership after the United States withdrew from that agreement. “This limits the economic benefits of the deal, especially in the short term; India’s absence from the pact would also weaken the gains,” the analysts said, adding there will be “considerable impact over the medium term” as market access barriers are gradually reduced.

India’s relations in the region

Indian Prime Minister Narendra Modi held a number of bilateral meetings in Thailand with countries including Japan, Vietnam, and Australia. He also welcomed the decision to review the trade agreement between ASEAN and India. “India will now try to mitigate the damage done to its relations with ASEAN, Japan and others—as well as the negative message it sends to international businesses and investors about reform prospects in India—by its decision not to move ahead with RCEP at this moment, and perhaps not at all,” Eurasia Group analysts said. They added the Indian government will “try to make positive noises about progressing trade talks with the US and EU and will expedite efforts to upgrade its free trade agreement with ASEAN.” Peter Mumford, practice head for Southeast and South Asia at Eurasia Group, told CNBC that Japan, in particular, will be disappointed if India stays out of RCEP. “Tokyo saw India’s presence as another counterweight to China — some other countries may have shared those views (and saw improved access to Indian market as one of the key benefits of RCEP).”


Company: cnbc, Activity: cnbc, Date: 2019-11-05  Authors: saheli roy choudhury
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Huge Asia Pacific trade deal is set to be signed in 2020, Thailand says

Many were hoping that at least some “substantial conclusion” to the years-long negotiations over the 16-member Regional Comprehensive Economic Partnership would be reached in Bangkok. Thailand, which currently holds the ASEAN chairmanship, said Sunday in a statement that the group “welcomed the conclusion of the Regional Comprehensive Economic Partnership (RCEP) negotiations and the commitment to sign the RCEP Agreement in 2020.” Malaysian Prime Minister Mahathir Mohamad told CNBC’s Martin Soong


Many were hoping that at least some “substantial conclusion” to the years-long negotiations over the 16-member Regional Comprehensive Economic Partnership would be reached in Bangkok.
Thailand, which currently holds the ASEAN chairmanship, said Sunday in a statement that the group “welcomed the conclusion of the Regional Comprehensive Economic Partnership (RCEP) negotiations and the commitment to sign the RCEP Agreement in 2020.”
Malaysian Prime Minister Mahathir Mohamad told CNBC’s Martin Soong
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Huge Asia Pacific trade deal is set to be signed in 2020, Thailand says

Southeast Asian countries are committed to signing a mega Asia Pacific trade pact in 2020 that would form a major trading bloc covering a third of the world’s gross domestic product, according to Thailand. Many were hoping that at least some “substantial conclusion” to the years-long negotiations over the 16-member Regional Comprehensive Economic Partnership would be reached in Bangkok. Leaders of the Association of Southeast Asian Nations are in Thailand for the 35th ASEAN Summit as well as meetings with major trading partners like China and India. Thailand, which currently holds the ASEAN chairmanship, said Sunday in a statement that the group “welcomed the conclusion of the Regional Comprehensive Economic Partnership (RCEP) negotiations and the commitment to sign the RCEP Agreement in 2020.”

Thailand prime minister Prayut Chan-O-Cha and guests leave the stage at a business forum on the sidelines of the 35th Association of Southeast Asian Nations (ASEAN) summit in Bangkok on November 2, 2019. Lillian Suwanrumpha | AFP | Getty Images

“This will significantly contribute to an open, inclusive and rules-based international trading system and expansion of value chains,” it said. Malaysian Prime Minister Mahathir Mohamad told CNBC’s Martin Soong he hoped the agreement would be signed “as soon as possible.” He said the hold-up was due to “some minor issues” that he felt member states would be able to overcome as “the rewards will be very staggering because of the huge population that will be involved.” In his opening remarks, Thai Prime Minister Prayut Chan-o-cha urged member states to work toward reaching a conclusion to RCEP negotiations within this year to “stimulate economic growth,” trade and investment.

Separately, Reuters reported that Thai government spokeswoman Narumon Pinyosinwat told reporters on Sunday that commerce ministers were still discussing outstanding issues and that it would be announced when a conclusion was reached. She said the signing of the agreement was expected around February 2020 and Thai Commerce Minister, Jurin Laksanawisit, added India had not pulled out, according to Reuters. India’s reluctance to open up its markets has been one of the major sticking factors in the talks, which started in 2013.

Waiting on India’s decision

RCEP involves all ten Southeast Asian nations and six of their large trading partners: China, Japan, South Korea, India, Australia, and New Zealand. If all 16 countries come together to form a trading bloc, it would cover about a third of the world’s gross domestic product and provide new market access for goods and services as well as investment opportunities for companies. India is worried that the agreement, which requires the gradual elimination of tariffs, will open up the country’s domestic markets to a flood of cheap Chinese goods and agricultural produce from Australia and New Zealand that will harm its local producers. In his opening remarks at the ASEAN-India summit on Sunday, Indian Prime Minister Narendra Modi did not mention the ongoing RCEP negotiations. Instead, he spoke about the ASEAN-India partnership and the decision to review his country’s trade agreement with the bloc. “This will not only make our economic relations more stronger, but our trade will also be balanced,” Modi said.

China’s interest in RCEP

For its part, China sees RCEP as an important piece in the greater economic integration of East Asia under its influence. Malaysia’s Mahathir told CNBC that China is “a rich market, it will support huge trade that will involve all the countries concerned.” Beijing is currently locked in a trade war with the United States, where both sides have applied tariffs on billions of dollars worth of each other’s goods — the impact of the trade fight has slowed down global economic growth and created a wave of uncertainty for companies. Some consider RCEP to be a less restrictive version of the now-defunct U.S.-led Trans-Pacific Partnership. The U.S. pulled out of the 12-member TPP in January 2017.

As much as we’d like to see RCEP done, we’d like to see our administration focus on getting deals done for the United States. Charles Freeman U.S. Chamber of Commerce


Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: saheli roy choudhury
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US to send downgraded delegation for Bangkok summits, disappointing partners worried about China

The United States has downgraded its participation in back-to-back Asia-Pacific summits in Bangkok next week, a move bound to disappoint Asian partners worried by China’s expanding influence. Trump, a Republican, has named White House national security adviser Robert O’Brien as his special envoy to the summits, the White House said. David Stilwell, the State Department’s assistant secretary for East Asia and the Pacific, will also be in Bangkok, but the U.S. delegation will be significantly outr


The United States has downgraded its participation in back-to-back Asia-Pacific summits in Bangkok next week, a move bound to disappoint Asian partners worried by China’s expanding influence.
Trump, a Republican, has named White House national security adviser Robert O’Brien as his special envoy to the summits, the White House said.
David Stilwell, the State Department’s assistant secretary for East Asia and the Pacific, will also be in Bangkok, but the U.S. delegation will be significantly outr
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US to send downgraded delegation for Bangkok summits, disappointing partners worried about China

Secretary of Commerce Wilbur Ross testifies during the House Oversight and Government Reform Committee hearing on the census on Thursday, Oct. 12, 2017.

The United States has downgraded its participation in back-to-back Asia-Pacific summits in Bangkok next week, a move bound to disappoint Asian partners worried by China’s expanding influence.

While President Donald Trump is expected to attend the Asia Pacific Economic Cooperation forum in Chile in mid-November, the most senior official from his administration who will be in Bangkok next week when Thailand hosts the annual East Asian Summit and U.S.-ASEAN Summit will be Commerce Secretary Wilbur Ross, the White House said in a statement.

Ross is scheduled to lead the U.S. delegation to an Indo-Pacific Business Forum grouping government officials and business executives on the sidelines of the EAS.

Trump, a Republican, has named White House national security adviser Robert O’Brien as his special envoy to the summits, the White House said.

David Stilwell, the State Department’s assistant secretary for East Asia and the Pacific, will also be in Bangkok, but the U.S. delegation will be significantly outranked by other regional players including, Japan, India and China.

Despite declaring Indo-Pacific “the single most consequential region for America’s future” in a Pentagon strategy report this year, the Trump administration has steadily scaled back U.S. presence at the EAS and ASEAN gatherings.

While Trump attended the U.S.-ASEAN summit in Manila in 2017, he has never attended a full EAS meeting. Vice President Mike Pence represented the United States at the meetings in Singapore last year.

Trump’s predecessor, Democrat Barack Obama, by contrast attended every U.S.-ASEAN and East Asia summit from 2011, apart from 2013, when he canceled due to a government shutdown at home.

Asian diplomats say the lack of top-level U.S. representation in Bangkok will be a significant if not unexpected disappointment in a region increasingly concerned about China’s fast-expanding influence.

Trump plans to attend the primarily economics-focused meeting of APEC in Chile, where he has said he hopes to sign the first part of a deal with China to resolve a prolonged and damaging trade war.

However, diplomats and analysts say Trump’s absence in Bangkok will raise questions about U.S. commitment to the region, especially after his withdrawal from the 11-nation Trans Pacific Partnership trade agreement in 2017, shortly after he took office.

Last year, Trump, who is currently embroiled in a congressional impeachment inquiry, sent Pence in his place to attend APEC as well as the ASEAN and the East Asia summits.

Matthew Goodman, senior adviser for Asian economics at Washington’s Center for Strategic and International Studies think tank, called U.S. attendance plans for Bangkok “a real issue.”

“As Woody Allen said, either 80 or 85 percent of life is showing up. And in the Indo-Pacific, that’s definitely true,” he told a news briefing previewing the summits. “If you show up, you’re given praise, whatever you actually say or do. If you don’t show up, it’s a real problem.”

Amy Searight, who was a senior defense official under Obama and is now a senior adviser at CSIS, said the EAS summit had become the premier strategic dialogue forum for the Asia Pacific, drawing leaders from China, India, Japan and South Korea, as well as those of the 10 ASEAN, or Association of Southeast Asian Nations, states.

“It’ll be headlines in the region that no senior American leader is coming to a summit with 17 other leaders from the Indo-Pacific,” she said.

“And I think it really does call into question … how serious this administration is in its Free and Open Indo-Pacific strategy,” she said. “And it really just calls into question the reliability of the United States as a strategic partner to this region.”


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Global recession is a top concern among Asia Pacific business leaders, JPMorgan survey shows

Business decision-makers in Asia Pacific cite the prospect of a global recession and the impact of trade tariffs as the biggest risks for their companies in the next six to 12 months, according to a survey from J.P. Morgan. “While J.P. Morgan’s view is not for a recession, growth is expected to slow in the coming quarters, with global growth for 2019 forecast at 2.7 percent and dipping to 2.5 percent in 2020,” he wrote. In fact, the International Monetary Fund recently made a downward revision t


Business decision-makers in Asia Pacific cite the prospect of a global recession and the impact of trade tariffs as the biggest risks for their companies in the next six to 12 months, according to a survey from J.P. Morgan.
“While J.P. Morgan’s view is not for a recession, growth is expected to slow in the coming quarters, with global growth for 2019 forecast at 2.7 percent and dipping to 2.5 percent in 2020,” he wrote.
In fact, the International Monetary Fund recently made a downward revision t
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Global recession is a top concern among Asia Pacific business leaders, JPMorgan survey shows

Business decision-makers in Asia Pacific cite the prospect of a global recession and the impact of trade tariffs as the biggest risks for their companies in the next six to 12 months, according to a survey from J.P. Morgan.

Around 30% of chief financial officers and group treasurers in the region belonging to 130 global companies said they felt a potential global recession posed the biggest risk to their businesses in a poll conducted at the 2019 J.P. Morgan Asia Pacific CFO and Treasurers Forum in Shanghai.

The impact of global trade tariffs was a top concern for about 27% of the respondents, while 24% said they were worried about a slowdown in emerging markets, 10% revealed cyber threats were a primary worry and 9% pointed to Brexit and the future of the eurozone.

“The concerns over the impact of headwinds in the global macro environment are front and center in the minds of the top CFOs and treasurers of global corporations,” Oliver Brinkmann, head of corporate banking for Asia Pacific at J.P. Morgan, said in a statement.

“While J.P. Morgan’s view is not for a recession, growth is expected to slow in the coming quarters, with global growth for 2019 forecast at 2.7 percent and dipping to 2.5 percent in 2020,” he wrote.

Experts have said that the chances of another recession happening are “uncomfortably high” in the next 12 to 18 months despite actions from policymakers to try and reverse course. In fact, the International Monetary Fund recently made a downward revision to its global growth outlook for 2019 and 2020 and said growth in major Asian economies is set to slow more than expected.

The ongoing trade war between the United States and China has roiled global markets and created a lot of uncertainty for businesses in part due to disruptions in global supply chains. Even though some progress has been made recently, U.S. and Chinese tariffs on each other’s imports still remain. Elsewhere, the United Kingdom’s scheduled departure from the European Union looks set to be delayed again, while in China, the economy is slowing down.

In the J.P. Morgan survey, 34% said they were responding to global supply chain disruptions by exploring pricing options with suppliers while 32% revealed they are currently sourcing for alternative suppliers.

About 15% said they were shifting production from China to other countries. Experts have previously said that countries like Vietnam could be a big winner of the U.S.-China trade dispute if businesses shift their factories out of the world’s second-largest economy.

“We still see growth opportunities especially in emerging Asia but the geopolitical events are somewhat clouding sentiment,” Brinkmann said.


Company: cnbc, Activity: cnbc, Date: 2019-10-24  Authors: saheli roy choudhury, weizhen tan
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Asia Pacific shares mostly rise as growth in South Korea continues to slow

Asia Pacific shares mostly rose in the afternoon, as latest figures showed that South Korea’s economy continued to slow. Its net profit rose 59% to 427 billion won ($364.8 million) — widely missing Refinitiv estimates of $684 billion. Its shares rose 0.83% by the close. South Korea’s economy slowed in the third quarter, growing at 0.4%, according to preliminary estimates by its central bank. South Korea’s economy has been slowing this year, hit by the U.S.-China trade war.


Asia Pacific shares mostly rose in the afternoon, as latest figures showed that South Korea’s economy continued to slow.
Its net profit rose 59% to 427 billion won ($364.8 million) — widely missing Refinitiv estimates of $684 billion.
Its shares rose 0.83% by the close.
South Korea’s economy slowed in the third quarter, growing at 0.4%, according to preliminary estimates by its central bank.
South Korea’s economy has been slowing this year, hit by the U.S.-China trade war.
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Asia Pacific shares mostly rise as growth in South Korea continues to slow

Asia Pacific shares mostly rose in the afternoon, as latest figures showed that South Korea’s economy continued to slow. Investors, meanwhile, look ahead to the European Central Bank meeting on Thursday.

Mainland Chinese markets moved to a subdued finish. The Shanghai composite closed flat to 2,940.92, while the Shenzhen composite declined 0.21% to 1,615.96.

Hong Kong’s Hang Seng index bucked the trend, jumping 0.77% in its final hour of trade.

Australia’s S&P/ASX 200 rose 0.31% to close at 6,693.60. Oil stocks gained, with Santos jumping 2.28%, and Woodside Petroleum up 2.36%.

Japan’s Nikkei 225 jumped 0.55% to 22,750.60. In South Korea, the Kospi edged up 0.24% to close at 2,085.66.

Chip giant SK Hynix posted third-quarter operating profit of 473 billion won ($405 million) — a 93% plunge as compared to the previous year’s quarter, as memory chip prices continue to fall. That, however, beat Refinitiv estimates of 418 billion won.

Its shares closed higher by 2.96%.

Hyundai Motor also reported third-quarter earnings. Its net profit rose 59% to 427 billion won ($364.8 million) — widely missing Refinitiv estimates of $684 billion. Its shares rose 0.83% by the close.

The country also reported its gross domestic product numbers on Thursday. South Korea’s economy slowed in the third quarter, growing at 0.4%, according to preliminary estimates by its central bank.

South Korea’s economy has been slowing this year, hit by the U.S.-China trade war. In October, it cut its interest rate for the second time in three months to prop up growth.

Overall, MSCI’s broadest index of Asia Pacific shares outside Japan was up 0.41% in the afternoon.


Company: cnbc, Activity: cnbc, Date: 2019-10-24  Authors: weizhen tan
Keywords: news, cnbc, companies, slow, asia, korea, pacific, south, won, estimates, shares, koreas, growth, economy, thirdquarter, rose, billion, reported, continues, rise


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Asia Pacific markets mostly tumble as China’s growth weakens more than expected

Asia Pacific markets mostly declined on Friday by the close, as China released worse-than-expected gross domestic product figures, impacted by Beijing’s protracted trade conflict with the U.S.Mainland Chinese markets tumbled after the release of the data. China released third-quarter GDP figures on Friday showing the economy grew 6.0% from a year ago — weaker than analyst expectations for 6.1%. “Unchecked, the US-China trade conflict is set to sink growth well below 6%. Beijing’s protracted trad


Asia Pacific markets mostly declined on Friday by the close, as China released worse-than-expected gross domestic product figures, impacted by Beijing’s protracted trade conflict with the U.S.Mainland Chinese markets tumbled after the release of the data.
China released third-quarter GDP figures on Friday showing the economy grew 6.0% from a year ago — weaker than analyst expectations for 6.1%.
“Unchecked, the US-China trade conflict is set to sink growth well below 6%.
Beijing’s protracted trad
Asia Pacific markets mostly tumble as China’s growth weakens more than expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: weizhen tan
Keywords: news, cnbc, companies, trade, fell, protracted, expected, chinas, asia, note, tumbled, wrote, weakens, shenzhen, set, pacific, markets, tumble, released, growth


Asia Pacific markets mostly tumble as China's growth weakens more than expected

Asia Pacific markets mostly declined on Friday by the close, as China released worse-than-expected gross domestic product figures, impacted by Beijing’s protracted trade conflict with the U.S.

Mainland Chinese markets tumbled after the release of the data. The Shanghai composite fell 1.32% to close at 2,938.14, while the Shenzhen composite was down 1.17% to 1,616.72, and the Shenzhen component declined 1.16% to 9,533.50.

China released third-quarter GDP figures on Friday showing the economy grew 6.0% from a year ago — weaker than analyst expectations for 6.1%.

“Unchecked, the US-China trade conflict is set to sink growth well below 6%. Especially given that structurally, growth is set to moderate to 5% in the next 5-10 years,” Mizuho Bank’s Vishnu Varathan, head of economics and strategy, wrote in a note sent before the data was out.

The country may now have to escalate stimulus in the next one to two quarters if it wants to set a growth target of between 5.5% and 6% for next year, Macquarie analysts wrote in a note on Friday afternoon.

Beijing’s protracted trade dispute with the U.S. has weighed on its economy, with growth slowing to 6.2% in the last quarter — its slowest pace in 27 years. China had emphasized Thursday that the U.S. must remove tariffs in order for the two countries to reach a final agreement on trade.

Over in Hong Kong, the Hang Seng index fell 0.72% in the afternoon. Property developers in Hong Kong pared some gains they made the day before. Shares of New World Development dropped 1.07%, Henderson Land fell 1.68% and CK Asset tumbled 0.46%.


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: weizhen tan
Keywords: news, cnbc, companies, trade, fell, protracted, expected, chinas, asia, note, tumbled, wrote, weakens, shenzhen, set, pacific, markets, tumble, released, growth


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Cathay Pacific lowers full-year profit expectations as Hong Kong protests bite

Hong Kong’s Cathay Pacific Airways on Friday lowered its expectations for full-year profit due to “incredibly challenging” conditions in its home market racked by anti-government protests that it expected to persist for the rest of 2019. Cathay in August reported a HK$1.347 billion ($171.75 million) first-half profit. At that time, it said second-half profit was likely to be higher than the first-half, as is typically the case for the airline, based on seasonality. Inbound traffic to Hong Kong w


Hong Kong’s Cathay Pacific Airways on Friday lowered its expectations for full-year profit due to “incredibly challenging” conditions in its home market racked by anti-government protests that it expected to persist for the rest of 2019.
Cathay in August reported a HK$1.347 billion ($171.75 million) first-half profit.
At that time, it said second-half profit was likely to be higher than the first-half, as is typically the case for the airline, based on seasonality.
Inbound traffic to Hong Kong w
Cathay Pacific lowers full-year profit expectations as Hong Kong protests bite Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18
Keywords: news, cnbc, companies, reported, protests, numbers, hong, bite, airline, lowers, expectations, passenger, pacific, secondhalf, fullyear, kong, cathay, profit


Cathay Pacific lowers full-year profit expectations as Hong Kong protests bite

Hong Kong’s Cathay Pacific Airways on Friday lowered its expectations for full-year profit due to “incredibly challenging” conditions in its home market racked by anti-government protests that it expected to persist for the rest of 2019.

The airline reported a 7.1% drop in passenger numbers for the month of September as travellers avoided Hong Kong due to widespread and sometimes violent protests, and said its second-half financial results were likely to be below the first half.

Cathay in August reported a HK$1.347 billion ($171.75 million) first-half profit. At that time, it said second-half profit was likely to be higher than the first-half, as is typically the case for the airline, based on seasonality.

The consensus estimate before Friday’s update was for the airline to report a full-year profit of HK$3.2 billion, according to 11 analysts polled by Refinitiv.

“We continue to see a significant shortfall in inbound bookings for the remainder of 2019 as compared to the same snapshot last year,” Cathay Chief Customer and Commercial Officer Ronald Lam said in a statement on Friday.

Inbound traffic to Hong Kong was down 38% in September, unchanged from August, with demand from the mainland Chinese market hit especially hard, the airline said.

The 7.1% fall in passenger numbers in September was better than the 11.3% drop in August, but Cathay said an increasing reliance on transit passengers had affected its yields — a measure of the average fare paid per kilometer per passenger.

Cathay last month said it would cut capacity for the upcoming winter season.

($1 = 7.8427 Hong Kong dollars)


Company: cnbc, Activity: cnbc, Date: 2019-10-18
Keywords: news, cnbc, companies, reported, protests, numbers, hong, bite, airline, lowers, expectations, passenger, pacific, secondhalf, fullyear, kong, cathay, profit


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‘These not-as-bad-as-feared quarters are good news for shareholders,’ Jim Cramer says

‘These not-as-bad-as-feared quarters are good news for shareholders,’ Jim Cramer says9 Hours AgoMixed-earnings reports from Union Pacific, Honeywell and Johnson & Johnson, among others, spell good news for shareholders.


‘These not-as-bad-as-feared quarters are good news for shareholders,’ Jim Cramer says9 Hours AgoMixed-earnings reports from Union Pacific, Honeywell and Johnson & Johnson, among others, spell good news for shareholders.
‘These not-as-bad-as-feared quarters are good news for shareholders,’ Jim Cramer says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17
Keywords: news, cnbc, companies, union, cramer, spell, notasbadasfeared, johnson, jim, quarters, reports, pacific, says9, shareholders, good


'These not-as-bad-as-feared quarters are good news for shareholders,' Jim Cramer says

‘These not-as-bad-as-feared quarters are good news for shareholders,’ Jim Cramer says

9 Hours Ago

Mixed-earnings reports from Union Pacific, Honeywell and Johnson & Johnson, among others, spell good news for shareholders.


Company: cnbc, Activity: cnbc, Date: 2019-10-17
Keywords: news, cnbc, companies, union, cramer, spell, notasbadasfeared, johnson, jim, quarters, reports, pacific, says9, shareholders, good


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