Deutsche Bank plans cuts at its US equities business

Christian Sewing, CEO of Germany’s Deutsche Bank, addresses the audience during the bank’s annual meeting in Frankfurt, Germany, May 24, 2018. Deutsche Bank is planning cuts at its U.S. equities business, including prime brokerage and equity derivatives, to win over shareholders unhappy about its performance, four sources familiar with the matter told Reuters. Chief Executive Officer Christian Sewing told shareholders at the bank’s annual meeting on Thursday it was prepared to make “tough cutbac


Christian Sewing, CEO of Germany’s Deutsche Bank, addresses the audience during the bank’s annual meeting in Frankfurt, Germany, May 24, 2018. Deutsche Bank is planning cuts at its U.S. equities business, including prime brokerage and equity derivatives, to win over shareholders unhappy about its performance, four sources familiar with the matter told Reuters. Chief Executive Officer Christian Sewing told shareholders at the bank’s annual meeting on Thursday it was prepared to make “tough cutbac
Deutsche Bank plans cuts at its US equities business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24
Keywords: news, cnbc, companies, business, cuts, banks, plans, sewing, told, deutsche, shareholders, sources, trading, equities, bank


Deutsche Bank plans cuts at its US equities business

Christian Sewing, CEO of Germany’s Deutsche Bank, addresses the audience during the bank’s annual meeting in Frankfurt, Germany, May 24, 2018.

Deutsche Bank is planning cuts at its U.S. equities business, including prime brokerage and equity derivatives, to win over shareholders unhappy about its performance, four sources familiar with the matter told Reuters.

Chief Executive Officer Christian Sewing told shareholders at the bank’s annual meeting on Thursday it was prepared to make “tough cutbacks” at its investment bank. Sewing is battling to convince them he can turn around Germany’s biggest lender, whose shares have reached a record low.

The bulk of the anticipated U.S. cuts will come from its money-losing equities business, which includes cash equities trading. Other areas of the business, including U.S. rates trading, have been earmarked for further reductions, they said.

It is unclear how many of the bank’s 9,275 U.S. employees will be affected and no final decisions have been made, the sources said.

Deutsche Bank declined to comment. CNBC sources also confirmed the Reuters report that the U.S. equities business will face further cuts.

Sewing did not name which parts of the business will be cut or when the changes will happen when addressing shareholders on Thursday. However, two people with knowledge of the matter told Reuters that job cut announcements are not imminent.

The future of the bank’s U.S. trading and investment banking operations has been in question for months, with some shareholders calling for further cuts on top of those announced last year.

The bank had previously denied reports it planned a further U.S. restructuring, saying in a memo to staff last month that it was “firmly committed” to its U.S. franchise.

However, the collapse of merger talks with German rival Commerzbank AG last month led senior management to intensify discussions over a “Plan B” for turning around the business, the sources said. U.S. cuts were high on the agenda, the sources said.

Last year, Deutsche Bank said it would reduce its global headcount to below 90,000 from 97,000. That incorporated a 25% cut in equities sales and trading jobs, including a significant number in New York. However, it has continued to lag competitors in performance.


Company: cnbc, Activity: cnbc, Date: 2019-05-24
Keywords: news, cnbc, companies, business, cuts, banks, plans, sewing, told, deutsche, shareholders, sources, trading, equities, bank


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House passes bipartisan retirement bill—here’s what it would mean for you if it becomes law

The changes would be the most significant to retirement plans since 2006, when the Pension Protection Act made it easier for companies to automatically enroll their employees in 401(k) plans. That’s primarily because small businesses are hesitant or intimidated by offering either a 401(k) or some sort of payroll-deduct IRA program. ” One of the ways it’s doing that is by making it easier for small businesses to band together to offer 401(k) plans. This could potentially give small businesses acc


The changes would be the most significant to retirement plans since 2006, when the Pension Protection Act made it easier for companies to automatically enroll their employees in 401(k) plans. That’s primarily because small businesses are hesitant or intimidated by offering either a 401(k) or some sort of payroll-deduct IRA program. ” One of the ways it’s doing that is by making it easier for small businesses to band together to offer 401(k) plans. This could potentially give small businesses acc
House passes bipartisan retirement bill—here’s what it would mean for you if it becomes law Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: kathleen elkins
Keywords: news, cnbc, companies, mean, small, bipartisan, bill, save, money, law, businesses, retirement, parks, americans, billheres, house, passes, 401k, plans


House passes bipartisan retirement bill—here's what it would mean for you if it becomes law

On Thursday, the House of Representatives passed the Secure Act, a bill backed by both Republicans and Democrats that aims to improve the nation’s retirement system. If it passes the Senate, it will be sent to President Trump’s desk. “The Trump administration hasn’t taken a formal position on the bill, but lobbyists who support it say they expect the president to sign it into law,” the Wall Street Journal reports. The changes would be the most significant to retirement plans since 2006, when the Pension Protection Act made it easier for companies to automatically enroll their employees in 401(k) plans. Here are some of the provisions included in the Secure Act: Repeal the maximum age for traditional IRA contributions, which is currently 70½

Increase the required minimum distribution age for retirement accounts to 72 (up from 70½)

Allow long-term part-time workers to participate in 401(k) plans

Allow more annuities to be offered in 401(k) plans

Parents can withdraw up to $5,000 from retirement accounts penalty-free within a year of birth or adoption for qualified expenses

Parents can withdraw up to $10,000 from 529 plans to repay student loans

What the bill is addressing

“This is a stepping stone to try to solve that looming retirement crisis, ” Chad Parks, founder and CEO of Ubiquity Retirement + Savings, tells CNBC Make It. Many Americans are not prepared for their golden years: Just 36% of non-retired adults think that their retirement saving is on track, the Federal Reserve found in its annual study on household well-being. And 25% of Americans have no retirement savings or pension. Part of the problem is that many workers don’t have access to 401(k) plans, says Parks: “The reality is that almost half of all working Americans don’t have the ability to save for their retirement at their job. That’s primarily because small businesses are hesitant or intimidated by offering either a 401(k) or some sort of payroll-deduct IRA program. ” A goal of the Secure Act is “to incentivize businesses to put [plans] in place,” Parks explains. One of the ways it’s doing that is by making it easier for small businesses to band together to offer 401(k) plans. “Companies that have no commonality could all join the same plan,” Amy Oullette, director of retirement services at Betterment, tells CNBC Make It. This could potentially give small businesses access to lower cost plans with better investment options and lower administrative fees.

What the bill could mean for you

By making it easier and cheaper for small businesses to offer 401(k) plans, if the bill becomes law, “millions more people, hypothetically, should have access to the ability to save at work,” says Parks. The bill would also allow more part-time workers to participate in 401(k) plans. Currently, employers generally can exclude people who work less than 1,000 hours per year from its defined contribution plan. But with the new bill, “any employee who has worked for you for at least three years and at least 500 hours a year is now able to participate in your retirement plan,” says Parks. This is key, says Parks, because investing in a 401(k) is “the most effective way to get people to save for retirement.” It’s a particularly effective savings vehicle for a few reasons: It offers significant tax advantages. Contributions are made pre-tax so, the more you put in, the more you reduce your taxable income. The money is automatically taken from your paycheck before you have the chance to spend it. That makes it a painless way to save for the future. The idea is that, over time, your money will grow and compound until you can start withdrawing it at age 59½. If you withdraw before then, you usually have to pay a penalty. Often, companies offer a 401(k) match, which is essentially free money. Employers will match whatever contribution you put towards your 401(k) up to a certain amount. For example, if you choose to put four percent of your salary into your account, your employer will put that same amount in as well, in effect doubling your contribution. The Senate still has to pass the bill and then the president would have to sign it into law. Still, when it comes to changes in the retirement system, “this is truly the biggest thing we’ve seen in many years,” says Oullette. Don’t miss: How much money Americans have in their 401(k)s at every age Like this story? Subscribe to CNBC Make It on YouTube!


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: kathleen elkins
Keywords: news, cnbc, companies, mean, small, bipartisan, bill, save, money, law, businesses, retirement, parks, americans, billheres, house, passes, 401k, plans


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Bipartisan retirement bill clears House, moves closer to becoming law

Lawmakers in the House of Representatives have passed a bill that aims to improve the nation’s retirement savings, moving it a step closer to becoming law. Francis Dean | Getty ImagesIt also would raise the age when required minimum distributions, or RMDs, from certain retirement accounts must start to age 72, from 70½, along with making changes to allow more annuities to be offered in 401(k) plans. “We continue to be optimistic that we’ll move this bill over the goal line,” said Paul Richman, c


Lawmakers in the House of Representatives have passed a bill that aims to improve the nation’s retirement savings, moving it a step closer to becoming law. Francis Dean | Getty ImagesIt also would raise the age when required minimum distributions, or RMDs, from certain retirement accounts must start to age 72, from 70½, along with making changes to allow more annuities to be offered in 401(k) plans. “We continue to be optimistic that we’ll move this bill over the goal line,” said Paul Richman, c
Bipartisan retirement bill clears House, moves closer to becoming law Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: sarah obrien, dick power, founder, principal of power plans
Keywords: news, cnbc, companies, bipartisan, age, bill, plans, savings, moves, closer, making, clears, secure, retirement, businesses, house, changes, law


Bipartisan retirement bill clears House, moves closer to becoming law

Lawmakers in the House of Representatives have passed a bill that aims to improve the nation’s retirement savings, moving it a step closer to becoming law. Called the Secure Act and backed by both Republicans and Democrats, the measure includes a variety of provisions intended to increase the ranks of savers and the amount they put away. Changes include: making it easier for small businesses to band together to offer 401(k) plans, requiring businesses to let long-term, part-time workers become eligible for retirement benefits and repealing the maximum age for making contributions to traditional individual retirement accounts (right now, that’s 70½).

Francis Dean | Getty Images

It also would raise the age when required minimum distributions, or RMDs, from certain retirement accounts must start to age 72, from 70½, along with making changes to allow more annuities to be offered in 401(k) plans. “We continue to be optimistic that we’ll move this bill over the goal line,” said Paul Richman, chief government and political affairs officer at the Insured Retirement Institute. “It’s likely that before the end of this year, there will be a retirement bill that gets sent to the president’s desk.” A provision that would have allowed money from tax-advantaged 529 education savings plans to be used for home-schooling expenses was stripped from the Secure Act during a House Rules Committee vote earlier this week.


Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: sarah obrien, dick power, founder, principal of power plans
Keywords: news, cnbc, companies, bipartisan, age, bill, plans, savings, moves, closer, making, clears, secure, retirement, businesses, house, changes, law


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HSBC plans more China tech jobs in push for market share

HSBC Holdings PLC plans to add more than a 1,000 jobs this year at its technology development center in China, as the Asia-focused lender seeks to bolster its presence in the world’s second largest economy. Europe’s biggest bank by assets will boost headcount at its technology centers in Guangzhou, Shanghai and Xi’an by 14% from a current 7,000-strong workforce, said HSBC Chief Information Officer Darryl West. HSBC’s expansion plan in China, a key market for the bank, comes amid growing use of t


HSBC Holdings PLC plans to add more than a 1,000 jobs this year at its technology development center in China, as the Asia-focused lender seeks to bolster its presence in the world’s second largest economy. Europe’s biggest bank by assets will boost headcount at its technology centers in Guangzhou, Shanghai and Xi’an by 14% from a current 7,000-strong workforce, said HSBC Chief Information Officer Darryl West. HSBC’s expansion plan in China, a key market for the bank, comes amid growing use of t
HSBC plans more China tech jobs in push for market share Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21
Keywords: news, cnbc, companies, share, plans, technology, information, mainland, west, tech, bank, centers, operations, market, china, worldwide, push, hsbc, jobs


HSBC plans more China tech jobs in push for market share

HSBC Holdings PLC plans to add more than a 1,000 jobs this year at its technology development center in China, as the Asia-focused lender seeks to bolster its presence in the world’s second largest economy.

Europe’s biggest bank by assets will boost headcount at its technology centers in Guangzhou, Shanghai and Xi’an by 14% from a current 7,000-strong workforce, said HSBC Chief Information Officer Darryl West.

In recent years the London-based bank has spent $3 billion annually on its group technology operations which employ 40,000 people worldwide, and West said annual investments of $3-$3.5 billion are planned over the next few years.

Many global banks set up low-cost hubs in China and India more than a decade ago to maintain their complex worldwide information technology networks, but these centers have now become a core part of their operations.

The centers develop and implement risk and fraud management technologies, as well as digital applications that make it easier for banks to attract customers and deliver faster and more secure services.

HSBC’s expansion plan in China, a key market for the bank, comes amid growing use of technology in the financial sector – from payments to transactions.

At stake is a bigger share of the billions of dollars worth of retail and corporate banking business in a major financial market with a growing customer base.

“There is a lot more we can do with technology in mainland China. The level of technology adoption and innovation in China is way ahead of other markets,” West told reporters during a tour of HSBC’s technology center in the southern city of Guangzhou last week.

“We see mainland China as a tremendous source of talent, not just for the local market but our technology operations globally. We are hiring very aggressively here,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-05-21
Keywords: news, cnbc, companies, share, plans, technology, information, mainland, west, tech, bank, centers, operations, market, china, worldwide, push, hsbc, jobs


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Trump administration postpones some Medicare drug-cost proposals

The Trump administration has decided to put part of its Medicare drug cost-cutting proposals on hold, for now, announcing that it will not give health plans the authority to negotiate pricing for certain drugs considered protected classes and will not require pharmacies to make sure Medicare patients get the lowest price on prescriptions. The Centers for Medicare and Medicaid said Thursday it will not be implementing its lowest pharmacy price proposal for 2020, after receiving more than 4,000 co


The Trump administration has decided to put part of its Medicare drug cost-cutting proposals on hold, for now, announcing that it will not give health plans the authority to negotiate pricing for certain drugs considered protected classes and will not require pharmacies to make sure Medicare patients get the lowest price on prescriptions. The Centers for Medicare and Medicaid said Thursday it will not be implementing its lowest pharmacy price proposal for 2020, after receiving more than 4,000 co
Trump administration postpones some Medicare drug-cost proposals Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: bertha coombs, ashley turner
Keywords: news, cnbc, companies, drugs, protected, postpones, classes, drug, patients, trump, drugcost, medicare, plans, rule, administration, pharmacy, proposals


Trump administration postpones some Medicare drug-cost proposals

The Trump administration has decided to put part of its Medicare drug cost-cutting proposals on hold, for now, announcing that it will not give health plans the authority to negotiate pricing for certain drugs considered protected classes and will not require pharmacies to make sure Medicare patients get the lowest price on prescriptions. The Centers for Medicare and Medicaid said Thursday it will not be implementing its lowest pharmacy price proposal for 2020, after receiving more than 4,000 comments on the rule. “CMS is continuing to carefully review these comments as we continue to consider policies that would lower prescription drug costs, address challenges that independent pharmacies face, and improve the quality of pharmacy care,” the agency said.

A pharmacist collects medications for prescriptions at a pharmacy. Simon Dawson | Bloomberg | Getty Images

The administration also said it is not implementing a proposal, announced last fall, that would have allowed private Medicare Advantage and Part D drug plans to negotiate prices on so-called protected classes of drugs, which include cancer and HIV treatments. A number of physician and patient groups raised concerns that opening the door to negotiations on those protected class drugs would allow plans to exclude some brand drugs and limit access to important treatments for Medicare patients. While not permitting plans to exclude coverage of drugs in protected classes, the administration will require insurers to list information on lower-cost alternative therapies in monthly Explanation of Benefits reports that are sent to patients. It also will allow plans to require prior authorization for some therapies. “Some Medicare beneficiaries may find it harder to access particular drugs without bureaucratic hassle, but other beneficiaries who do not take drugs in these classes may not see a change,” said Rachel Sachs, associate law professor at Washington University in St. Louis who specializes in health policy law. Not allowing the drug plans to negotiate prices for protected classes means that the administration will face increased costs to implement its key proposal to bring down drug prices, the ban on confidential pharmacy benefit discounts, known as PBM rebates. CMS actuaries and analysts at the Congressional Budget Office have estimated that the proposed rebate rule could bring down drug costs for individual patients but will cost the government up to $200 billion more than the current rules over the next 10 years to cover some of the cost of higher premium subsidies. “CMS commissioned one report which argued that the rebate rule might save money if Part D plans were able to exercise greater negotiating authority. [Thursday’s] news makes that outcome far less likely,” Sachs said.

‘This isn’t guns blazing’


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: bertha coombs, ashley turner
Keywords: news, cnbc, companies, drugs, protected, postpones, classes, drug, patients, trump, drugcost, medicare, plans, rule, administration, pharmacy, proposals


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Walmart unveils plans for its sprawling new home office in Bentonville. Here is what it is going to look like.

Walmart’s existing headquarters, built in 1971, is made up of more than 20 buildings scattered around the corner of Southwest Eighth Street and Walton Boulevard in Bentonville. The new space will be built along J Street, the company said when it first revealed its plans to move, in September 2017. Walmart has been able to establish a presence in other cities across the U.S. through its acquisitions, like when it bought Jet.com, giving Walmart an office in Hoboken, New Jersey. Walmart also is sti


Walmart’s existing headquarters, built in 1971, is made up of more than 20 buildings scattered around the corner of Southwest Eighth Street and Walton Boulevard in Bentonville. The new space will be built along J Street, the company said when it first revealed its plans to move, in September 2017. Walmart has been able to establish a presence in other cities across the U.S. through its acquisitions, like when it bought Jet.com, giving Walmart an office in Hoboken, New Jersey. Walmart also is sti
Walmart unveils plans for its sprawling new home office in Bentonville. Here is what it is going to look like. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: lauren thomas
Keywords: news, cnbc, companies, look, sprawling, bartlett, walton, unveils, going, walmarts, bentonville, walmart, company, headquarters, plans, buildings, office, windows


Walmart unveils plans for its sprawling new home office in Bentonville. Here is what it is going to look like.

Walmart is getting new digs.

The biggest retailer in the world, headquartered in Bentonville, Arkansas, is one step closer to moving into a new home office for more than 14,000 people, which will be outfitted with fitness centers for employees and their families, a child-care facility, more diverse dining options like food trucks, trails for hiking and biking, and tons of windows — yes, more windows. Walmart’s current home office is notorious for lacking natural light.

Walmart’s existing headquarters, built in 1971, is made up of more than 20 buildings scattered around the corner of Southwest Eighth Street and Walton Boulevard in Bentonville. The new space will be built along J Street, the company said when it first revealed its plans to move, in September 2017.

Walmart on Friday released a blog post with more details about the new office and photos offering a first look at the facilities, which will span more than 300 acres. Demolition of the existing buildings on that land is expected to start this summer, and construction of the new campus will begin over the next two years, with workers moving in phases, the company said.

Walmart said the goal of getting into more modern facilities with an open floor plan — and better food, parking and fitness options — is to “attract the next generation of talent.” That’s as Amazon — arguably Walmart’s biggest rival in retail today — is embarking on opening a new headquarters in Virginia and another office space in Tennessee. (Amazon, which has its main headquarters in Seattle, was planning an office in New York City, but that fell through thanks to plenty of local opposition.)

For Walmart, though, the company didn’t think about leaving its roots behind in Bentonville, Dan Bartlett, executive vice president of Walmart’s corporate affairs team, said Thursday on a call with members of the media.

“This was not a hard decision for us to keep our home office in northwest Arkansas. … We are a part of this community,” he said. Walmart has been able to establish a presence in other cities across the U.S. through its acquisitions, like when it bought Jet.com, giving Walmart an office in Hoboken, New Jersey.

“Arkansas has been good to us, and there’s nowhere else we’d rather call home,” CEO Doug McMillon said.

Walmart’s big move follows McDonald’s opening a $250 million headquarters in Chicago’s West Loop last year. The fast-food chain’s CEO, Steve Easterbrook, sits on Walmart’s board, and Bartlett said Walmart has taken some inspiration from that design, as well as from visits to other corporate offices such as Apple’s and Deloitte’s, and from college campuses.

The company hasn’t announced the lead architect for this project. It also hasn’t disclosed a price tag for the move. But Bartlett said it will fall into Walmart’s “typical annual budgeting process” and that the company”feels good” about the capital it has on hand to pursue this. Since the move is happening in phases, the expenses will be spread over the span of a few years, not hitting on a particular quarter all at once.

Walmart also is still deciding what will become of its current home office once everyone has moved out of those buildings. Bartlett said it’s likely those buildings will be demolished, but the company will work with city and state leaders to turn the area into something the surrounding community can use.

“I think [our founder] Sam Walton himself would say: ‘Don’t conflate history with what needs to be done in the future,'” he said. “We are a company that is aggressively on the move as we continue to shape … the future of retail.”

Here’s a glimpse of what Walmart’s new home office will look like.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: lauren thomas
Keywords: news, cnbc, companies, look, sprawling, bartlett, walton, unveils, going, walmarts, bentonville, walmart, company, headquarters, plans, buildings, office, windows


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As China’s growth slows, CEO of Burger King’s parent focuses on the long-term opportunities

Restaurant Brands International CEO Jose Cil speaks during a television interview on the floor of the New York Stock Exchange. As China’s economy slows amid tensions with trade partners, Restaurant Brands International CEO Jose Cil said that the company is taking a long-term perspective on growing its brands in the country. The expansion is supposed to make Restaurant Brands one of the largest restaurant companies in the world. Tim Hortons plans to open 1,500 locations across the country in the


Restaurant Brands International CEO Jose Cil speaks during a television interview on the floor of the New York Stock Exchange. As China’s economy slows amid tensions with trade partners, Restaurant Brands International CEO Jose Cil said that the company is taking a long-term perspective on growing its brands in the country. The expansion is supposed to make Restaurant Brands one of the largest restaurant companies in the world. Tim Hortons plans to open 1,500 locations across the country in the
As China’s growth slows, CEO of Burger King’s parent focuses on the long-term opportunities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: amelia lucas
Keywords: news, cnbc, companies, china, chinas, growth, opportunities, longterm, view, slows, restaurant, plans, kings, parent, ceo, brands, country, open, focuses, trade, stores, cil, burger


As China's growth slows, CEO of Burger King's parent focuses on the long-term opportunities

Restaurant Brands International CEO Jose Cil speaks during a television interview on the floor of the New York Stock Exchange.

As China’s economy slows amid tensions with trade partners, Restaurant Brands International CEO Jose Cil said that the company is taking a long-term perspective on growing its brands in the country.

“Our view is that we want to be there, and we will be there for the long term. It’s an amazing consumption market, growing tremendously,” Cil said in an interview.

At its first investor day Wednesday, the parent company of Burger King, Tim Hortons and Popeyes Louisiana Kitchen said that it plans to surpass 40,000 stores in the next eight to 10 years. The expansion is supposed to make Restaurant Brands one of the largest restaurant companies in the world.

Chinese consumers’ appetite for burgers, coffee and fried chicken make the country an attractive market for the Toronto-based company, particularly as its sales growth in other markets declines. But the Chinese economy is slowing, and escalations in the trade war over the last week between China and the United States could mean a worse slowdown than expected.

Before the latest developments in the trade war, the International Monetary Fund predicted that China’s GDP will grow by 6.3% this year, which would mark its worst performance in 29 years.

“Our view on China — it’s a similar view for other markets as well — is that over time things will fluctuate, the economies will fluctuate, commodity costs, labor costs, even administrations will change from time to time,” Cil said.

Tim Hortons plans to open 1,500 locations across the country in the next decade as growth in its Canadian home market slows. It currently has 4 locations open in China.

Burger King already has a large footprint in the country, with more than 1,000 locations in China. In 2018 alone, it added about 140 new stores there.

Other companies see similar long-term opportunities. Yum China, the Chinese spinoff of Yum Brands, is accelerating its expansion of KFC. The Popeyes competitor opened its first store in the country more than three decades ago and added 191 new units during its first quarter.

Starbucks, which opened its first store in China 20 years ago, plans to open nearly 600 there in the second half of 2019 as part of its plan to remain the largest coffee chain in the country. China’s own Luckin Coffee, slated for a public debut on the New York Stock Exchange soon, has been trying to beat Starbucks with discounts and stores created for convenience.


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: amelia lucas
Keywords: news, cnbc, companies, china, chinas, growth, opportunities, longterm, view, slows, restaurant, plans, kings, parent, ceo, brands, country, open, focuses, trade, stores, cil, burger


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Ford, GM shares jump as Trump plans to delay auto tariffs

WeWork urges investors to see losses as ‘investments’ as it…WeWork has to convince public market investors that its losses are different than those of Uber or Lyft as the company prepares for its IPO. Technologyread more


WeWork urges investors to see losses as ‘investments’ as it…WeWork has to convince public market investors that its losses are different than those of Uber or Lyft as the company prepares for its IPO. Technologyread more
Ford, GM shares jump as Trump plans to delay auto tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: michael sheetz
Keywords: news, cnbc, companies, delay, public, investors, wework, market, shares, plans, jump, ford, gm, losses, trump, lyft, prepares, uber, urges, auto, tariffs, itwework


Ford, GM shares jump as Trump plans to delay auto tariffs

WeWork urges investors to see losses as ‘investments’ as it…

WeWork has to convince public market investors that its losses are different than those of Uber or Lyft as the company prepares for its IPO.

Technology

read more


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: michael sheetz
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Trump administration to delay auto tariffs by up to six months: Sources

The Trump administration plans to delay auto tariffs by up to six months, stopping itself for now from widening global trade disputes, four sources told CNBC. The White House faces a Saturday deadline to decide whether to slap duties on car and auto part imports over national security concerns. President Donald Trump sees the tariffs as a way to gain leverage over trading partners such as the European Union and Japan during ongoing talks. But the president risks sparking fresh global trade clash


The Trump administration plans to delay auto tariffs by up to six months, stopping itself for now from widening global trade disputes, four sources told CNBC. The White House faces a Saturday deadline to decide whether to slap duties on car and auto part imports over national security concerns. President Donald Trump sees the tariffs as a way to gain leverage over trading partners such as the European Union and Japan during ongoing talks. But the president risks sparking fresh global trade clash
Trump administration to delay auto tariffs by up to six months: Sources Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: kayla tausche jacob pramuk, kayla tausche, jacob pramuk
Keywords: news, cnbc, companies, duties, delay, sources, talks, administration, plans, european, trump, months, union, trade, global, auto, tariffs


Trump administration to delay auto tariffs by up to six months: Sources

The Trump administration plans to delay auto tariffs by up to six months, stopping itself for now from widening global trade disputes, four sources told CNBC.

The White House faces a Saturday deadline to decide whether to slap duties on car and auto part imports over national security concerns. After Saturday, the administration would have another 180 days to come to a decision as long as it is negotiating with its counterparts.

President Donald Trump sees the tariffs as a way to gain leverage over trading partners such as the European Union and Japan during ongoing talks. But the president risks sparking fresh global trade clashes if he goes through with car duties. The European Union, for example, has already prepared a list of retaliatory duties to implement if Trump targets autos.

Stocks gained back their their losses Wednesday following news of the administration’s plans, which were confirmed by a source briefed on the talks, an administration official and two foreign officials. Shares of automakers such as Ford and General Motors jumped.


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: kayla tausche jacob pramuk, kayla tausche, jacob pramuk
Keywords: news, cnbc, companies, duties, delay, sources, talks, administration, plans, european, trump, months, union, trade, global, auto, tariffs


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Check out the scenes from this year’s Berkshire Hathaway shareholder meeting

Shareholders walked between booths at the annual Berkshire shareholder shopping day in Omaha, Nebraska, May 3, 2019. At the annual Berkshire Hathaway meeting, thousands of shareholders walked around the CHI Health Center in Omaha, Nebraska. Investors were particularly interested at any succession plans for Berkshire. While Buffett hinted at possible successors, the Berkshire CEO largely avoided the issue again. Buffett also offered his opinion of banks taking government assistance and Tesla CEO


Shareholders walked between booths at the annual Berkshire shareholder shopping day in Omaha, Nebraska, May 3, 2019. At the annual Berkshire Hathaway meeting, thousands of shareholders walked around the CHI Health Center in Omaha, Nebraska. Investors were particularly interested at any succession plans for Berkshire. While Buffett hinted at possible successors, the Berkshire CEO largely avoided the issue again. Buffett also offered his opinion of banks taking government assistance and Tesla CEO
Check out the scenes from this year’s Berkshire Hathaway shareholder meeting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: nadine el-bawab
Keywords: news, cnbc, companies, ceo, shareholders, walked, hathaway, omaha, scenes, berkshire, plans, shareholder, annual, woodstock, buffett, check, nebraska, meeting


Check out the scenes from this year's Berkshire Hathaway shareholder meeting

Shareholders walked between booths at the annual Berkshire shareholder shopping day in Omaha, Nebraska, May 3, 2019.

At the annual Berkshire Hathaway meeting, thousands of shareholders walked around the CHI Health Center in Omaha, Nebraska. Shareholders posed for photos with oversized pop-ups of Warren Buffett, giant Heinz ketchup bottles and buying other discounted Berkshire-themed kitsch at the event nicknamed the “Woodstock of Capitalism.”

Shareholders later got to hear from the company’s two front men, Buffett and Charlie Munger.

Investors were particularly interested at any succession plans for Berkshire. While Buffett hinted at possible successors, the Berkshire CEO largely avoided the issue again.

Buffett also offered his opinion of banks taking government assistance and Tesla CEO Elon Musk’s plans to venture into the insurance business. In a subsequent interview with CNBC, Buffett explained why he doesn’t buy into intial public offerings and laid out his full endorsement for capitalism, over socialism.


Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: nadine el-bawab
Keywords: news, cnbc, companies, ceo, shareholders, walked, hathaway, omaha, scenes, berkshire, plans, shareholder, annual, woodstock, buffett, check, nebraska, meeting


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