German economy posts weakest growth in five years

Germany’s economy witnessed lackluster growth in 2018, according to flash data released Tuesday, in line with expectations. German gross domestic product (GDP) grew 1.5 percent in 2018, compared with 2.2 percent in 2017, the latest data from the Federal Statistics Office (Destatis) showed. The figures point to the weakest rate of growth in five years. Destatis noted that the German economy had grown for the ninth year in a row, “although growth has lost momentum.” A longer-term view shows that G


Germany’s economy witnessed lackluster growth in 2018, according to flash data released Tuesday, in line with expectations. German gross domestic product (GDP) grew 1.5 percent in 2018, compared with 2.2 percent in 2017, the latest data from the Federal Statistics Office (Destatis) showed. The figures point to the weakest rate of growth in five years. Destatis noted that the German economy had grown for the ninth year in a row, “although growth has lost momentum.” A longer-term view shows that G
German economy posts weakest growth in five years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: holly ellyatt, kirsztian bocsi bloomberg via getty images
Keywords: news, cnbc, companies, weakest, german, 2018, grown, economy, data, office, previous, statistics, growth, posts, rate


German economy posts weakest growth in five years

Germany’s economy witnessed lackluster growth in 2018, according to flash data released Tuesday, in line with expectations.

German gross domestic product (GDP) grew 1.5 percent in 2018, compared with 2.2 percent in 2017, the latest data from the Federal Statistics Office (Destatis) showed. The figures point to the weakest rate of growth in five years.

Destatis noted that the German economy had grown for the ninth year in a row, “although growth has lost momentum.”

“In the previous two years, the price adjusted GDP had increased by 2.2 percent each. A longer-term view shows that German economic growth in 2018 exceeded the average growth rate of the last ten years (+1.2 percent).”

The data body also said positive contributions to growth came mainly from domestic demand in 2018.

“Both household final consumption expenditure (+1.0 percent) and government final consumption expenditure (+1.1 percent) were up on the previous year. However, the growth rates were markedly lower than in the preceding three years,” it said.

German exports continued to increase on an annual average in 2018 (up 3.5 percent on the previous year), though at a slower pace than in the previous years.

An official estimate of fourth-quarter growth will only be available in February but the statistics office said it was likely that the economy had grown slightly in the period, meaning that a technical recession could have been avoided.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: holly ellyatt, kirsztian bocsi bloomberg via getty images
Keywords: news, cnbc, companies, weakest, german, 2018, grown, economy, data, office, previous, statistics, growth, posts, rate


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The partial government shutdown is now the longest ever as Trump border wall fight rages on

The partial government shutdown became the longest funding lapse in U.S. history Saturday, as it dragged into its 22nd day. Congress failed to break an impasse this week over President Donald Trump’s demand for more than $5 billion to build his proposed border wall, even as 800,000 federal workers started to miss paychecks Friday. If the shutdown continues for two more weeks, its estimated damage to the economy of $6 billion will top the $5.7 billion Trump seeks for the wall, according to S&P Gl


The partial government shutdown became the longest funding lapse in U.S. history Saturday, as it dragged into its 22nd day. Congress failed to break an impasse this week over President Donald Trump’s demand for more than $5 billion to build his proposed border wall, even as 800,000 federal workers started to miss paychecks Friday. If the shutdown continues for two more weeks, its estimated damage to the economy of $6 billion will top the $5.7 billion Trump seeks for the wall, according to S&P Gl
The partial government shutdown is now the longest ever as Trump border wall fight rages on Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: jacob pramuk, cnbc, kyle walsh
Keywords: news, cnbc, companies, funding, workers, rages, week, previous, longest, fight, partial, shutdown, billion, border, federal, wall, trump, damage


The partial government shutdown is now the longest ever as Trump border wall fight rages on

The partial government shutdown became the longest funding lapse in U.S. history Saturday, as it dragged into its 22nd day.

Congress failed to break an impasse this week over President Donald Trump’s demand for more than $5 billion to build his proposed border wall, even as 800,000 federal workers started to miss paychecks Friday. The closure of nine federal departments will last at least 24 days — and likely longer — as Congress does not convene again until Monday.

Talks about reopening a quarter of the government fizzled out this week, amid Trump insistence on funding for a barrier that Democrats have repeatedly refused. The Democratic-held House has passed bills to temporarily fund the government, but the GOP-controlled Senate has refused to take them up amid the president’s veto threat.

The impasse could move to a more polarizing phase, as Trump has threatened to declare a national emergency to circumvent the legislature.

Lawmakers and the White House appear far from forging an agreement to reopen the government. As the partial closure drags on, it is expected to cause economic damage due to missed paychecks, which may disrupt mortgage applications, food assistance programs and consumer sentiment. If the shutdown continues for two more weeks, its estimated damage to the economy of $6 billion will top the $5.7 billion Trump seeks for the wall, according to S&P Global Ratings.

The current funding lapse tops the previous record of 21 days set in December 1995 and January 1996, caused by a budget standoff during the Clinton administration. The damage from the partial shutdown that started last month is expected to be more limited than some previous closures as it affects about one-fourth of the government.

Congress passed a bill Friday guaranteeing back pay for federal workers — which Trump said he would sign. During other previous shutdowns, particularly in the 1970s, workers did not face furloughs.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: jacob pramuk, cnbc, kyle walsh
Keywords: news, cnbc, companies, funding, workers, rages, week, previous, longest, fight, partial, shutdown, billion, border, federal, wall, trump, damage


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Buying last year’s biggest losers might be the way to beat the market this year

And as it turns out, it’s a long-term winning strategy that has been beating the markets for 30 years. Bernstein calls this the “enhanced laggard” model, and it has been a winning strategy over the last 10-, 20- and 30-year periods compared to other strategies. However, buying laggards didn’t work last year, when the stock market suffered its worst year since the financial crisis. Bernstein’s “enhanced laggards” strategy posted a 6.6 percent decline, similar to the S&P 500’s performance. Kraft H


And as it turns out, it’s a long-term winning strategy that has been beating the markets for 30 years. Bernstein calls this the “enhanced laggard” model, and it has been a winning strategy over the last 10-, 20- and 30-year periods compared to other strategies. However, buying laggards didn’t work last year, when the stock market suffered its worst year since the financial crisis. Bernstein’s “enhanced laggards” strategy posted a 6.6 percent decline, similar to the S&P 500’s performance. Kraft H
Buying last year’s biggest losers might be the way to beat the market this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: yun li, daniel sorabji, afp, getty images
Keywords: news, cnbc, companies, beat, enhanced, losers, previous, winning, biggest, stocks, laggards, way, value, strategy, sp, buying, dow, market


Buying last year's biggest losers might be the way to beat the market this year

Last year’s laggards might be this year’s leaders.

This is what investors hope for when they pick up battered stocks in the beginning of a given year. And as it turns out, it’s a long-term winning strategy that has been beating the markets for 30 years.

According to AB Bernstein, buying the stocks that were in the bottom one-third of performers in the S&P 500 during the previous 12 months at the start of the year and screening out the value traps, a term for cheap stocks that never recover to fair value, has produced average annual relative returns of 2.6 percent since 1985.

Bernstein calls this the “enhanced laggard” model, and it has been a winning strategy over the last 10-, 20- and 30-year periods compared to other strategies.

For example, it “would have been a better strategy than the traditional ‘Dogs of the Dow’ method,” Bernstein’s Ann Larson said in a note to clients on Thursday.

‘Dogs of the Dow’ is a simple value investing strategy that calls for buying the 10 stocks with the highest dividend yield in the Dow Jones Industrial Average and holding them for a year. It has outperformed the markets for the past four years straight. The dogs kept investors relatively safe last year, with a flat return of 0.024 percent for the period versus the Dow’s nearly 6 percent decline and the S&P 500′s 6.2 percent.

However, buying laggards didn’t work last year, when the stock market suffered its worst year since the financial crisis. Bernstein’s “enhanced laggards” strategy posted a 6.6 percent decline, similar to the S&P 500’s performance. Owning leaders, or the top performers in the previous year, was the winning strategy last year, returning 1.4 percent, though over the 30-year time frame it has been less successful than buying the “enhanced laggards.”

Kraft Heinz, Celgene and Applied Materials are among last year’s biggest laggards, each bleeding more than 30 percent in 2018.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: yun li, daniel sorabji, afp, getty images
Keywords: news, cnbc, companies, beat, enhanced, losers, previous, winning, biggest, stocks, laggards, way, value, strategy, sp, buying, dow, market


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Venture capital spending hits all-time high in 2018, eclipsing dotcom bubble record

Venture capital just had its highest spending year in history. The amount of money firms spent on private companies hit a new all-time record in 2018— well above the previous watermark from the dotcom boom. Last year, venture capital firms spread roughly $131 billion across 8,949 deals, according to data published by Pitchbook and the National Venture Capital Association Thursday. The previous record was a $100 million total notched in the year 2000. More than 61 percent of total capital investe


Venture capital just had its highest spending year in history. The amount of money firms spent on private companies hit a new all-time record in 2018— well above the previous watermark from the dotcom boom. Last year, venture capital firms spread roughly $131 billion across 8,949 deals, according to data published by Pitchbook and the National Venture Capital Association Thursday. The previous record was a $100 million total notched in the year 2000. More than 61 percent of total capital investe
Venture capital spending hits all-time high in 2018, eclipsing dotcom bubble record Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: kate rooney, gerald french, getty images
Keywords: news, cnbc, companies, high, eclipsing, hits, alltime, dotcom, stanfill, money, spending, previous, record, bubble, total, deals, report, roughly, venture, capital


Venture capital spending hits all-time high in 2018, eclipsing dotcom bubble record

Venture capital just had its highest spending year in history.

The amount of money firms spent on private companies hit a new all-time record in 2018— well above the previous watermark from the dotcom boom.

Last year, venture capital firms spread roughly $131 billion across 8,949 deals, according to data published by Pitchbook and the National Venture Capital Association Thursday. The previous record was a $100 million total notched in the year 2000.

Although the dollar amount jumped by more than 57 percent from $83 billion last year, the number of deals went down. Deal count fell by about 5 percent this year from a roughly 9,400 total last year.

Cameron Stanfill, Pitchbook venture analyst who co-authored the report, said sky-high price tags for start-ups accounted for the new record total despite having fewer deals.

“There is a lot of money competing for a finite amount of companies, and that’s pushing prices up,” Stanfill told CNBC in a phone interview.

More than 61 percent of total capital invested came from deals sized at $50 million or larger. This boosted the average deal size and valuations across every investment stage and series last year, according to the report. But because venture investors are paying so much up front, it’s becoming harder to profit.

“If an investor has to put in more money a into an initial equity investment at a higher valuation, they’ll have to grow that business way more to get the same returns they were used to getting 10 years ago,” Stanfill said.


Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: kate rooney, gerald french, getty images
Keywords: news, cnbc, companies, high, eclipsing, hits, alltime, dotcom, stanfill, money, spending, previous, record, bubble, total, deals, report, roughly, venture, capital


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Gold falls on improved risk sentiment, dollar recovery

Gold prices fell on Tuesday as risk appetite improved on bets China and the United States may be closing on a trade deal, and as the dollar bounced off a 2-1/2-month low hit in the previous session. Spot gold was down 0.5 percent at $1,282.70, as of 0516 GMT, while U.S. gold futures were 0.5 percent lower at $1,283.50 per ounce. A weaker dollar makes dollar-denominated gold more affordable for buyers using other currencies. Gold prices have gained about 11 percent since hitting a more than 1-1/2


Gold prices fell on Tuesday as risk appetite improved on bets China and the United States may be closing on a trade deal, and as the dollar bounced off a 2-1/2-month low hit in the previous session. Spot gold was down 0.5 percent at $1,282.70, as of 0516 GMT, while U.S. gold futures were 0.5 percent lower at $1,283.50 per ounce. A weaker dollar makes dollar-denominated gold more affordable for buyers using other currencies. Gold prices have gained about 11 percent since hitting a more than 1-1/2
Gold falls on improved risk sentiment, dollar recovery Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: getty images
Keywords: news, cnbc, companies, risk, gold, falls, previous, head, dollar, trade, prices, highest, sentiment, recovery, positive, improved, hit, low


Gold falls on improved risk sentiment, dollar recovery

Gold prices fell on Tuesday as risk appetite improved on bets China and the United States may be closing on a trade deal, and as the dollar bounced off a 2-1/2-month low hit in the previous session.

Spot gold was down 0.5 percent at $1,282.70, as of 0516 GMT, while U.S. gold futures were 0.5 percent lower at $1,283.50 per ounce.

“Because of improved investor sentiment, gold is coming off its highs and may have to stay around the current levels,” said Mark To, head of research at Wing Fung Precious Metals in Hong Kong.

“The market has been troubled by uncertainties around trade war and interest rate hikes. However, now most of the stake holders, including the authorities in U.S., China and Fed, are trying to cooperate and put up a positive tone and create a stable environment for investors.”

Most Asian shares were propped up on Tuesday by hopes that Washington and Beijing may be inching towards a trade deal after positive comments from U.S. Commerce Secretary Wilbur Ross.

“A lot of people had gone long in gold as they bet that economic growth in U.S. and China might slow down due to the trade war,” said Kunal Shah, head of research at Nirmal Bang Commodities in Mumbai.

“If there are positive outcomes (in the trade talk) there could be some profit taking (in gold).”

The dollar index was up 0.3 percent, moving away from a 2-1/2-month low hit in the previous session after U.S. Federal Reserve chief Jerome Powell hinted on Friday that the central bank could pause its multi-year rate-hike cycle.

Gold is declining as the dollar is showing early signs of shaking off its recent bout of Fed-induced weakness, said Stephen Innes, APAC trading head at OANDA.

“However, the positive chatter around U.S.-China trade tensions will temper expectations (for the dollar),” Innes said.

A weaker dollar makes dollar-denominated gold more affordable for buyers using other currencies.

Gold prices have gained about 11 percent since hitting a more than 1-1/2-year low in mid-August due to tumultuous stock markets and a slightly weaker dollar. Bullion prices hit their highest since June 2018 at $1,298.42 on Friday.

Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, saw a bit of outflows on Friday. But, holdings are still at their highest since August 2018, underpinning demand for the safe-haven metal.

Palladium, meanwhile, rose 0.1 percent to $1,301 an ounce, but was still in the vicinity of the record high of $1,313.24 hit in the previous session. The metal was trading at a premium to gold.

Silver edged 0.6 percent lower to $15.55 per ounce, while platinum fell 0.8 percent to $815.50, having hit its highest in more than a month at $831.10 on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: getty images
Keywords: news, cnbc, companies, risk, gold, falls, previous, head, dollar, trade, prices, highest, sentiment, recovery, positive, improved, hit, low


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Hackers published personal data from Angela Merkel and hundreds of German public figures online

Personal data and documents from hundreds of German politicians and public figures have been published online, in what appears one of the most far-reaching cyber attacks in a country that has become a target of choice for hackers. German Chancellor Angela Merkel was affected, but an initial analysis showed no sensitive material from her office was released, said a government spokeswoman. Public broadcaster rbb, which broke the story, said the identity of the hackers and their motive were not kno


Personal data and documents from hundreds of German politicians and public figures have been published online, in what appears one of the most far-reaching cyber attacks in a country that has become a target of choice for hackers. German Chancellor Angela Merkel was affected, but an initial analysis showed no sensitive material from her office was released, said a government spokeswoman. Public broadcaster rbb, which broke the story, said the identity of the hackers and their motive were not kno
Hackers published personal data from Angela Merkel and hundreds of German public figures online Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: mikhail svetlov, getty images
Keywords: news, cnbc, companies, merkel, german, data, personal, spokesman, published, hackers, online, politicians, figures, public, hundreds, previous, cyber, rbb, russian


Hackers published personal data from Angela Merkel and hundreds of German public figures online

Personal data and documents from hundreds of German politicians and public figures have been published online, in what appears one of the most far-reaching cyber attacks in a country that has become a target of choice for hackers.

It was unclear if the breach, which triggered an emergency meeting of the national cyber defense agency, was the result of a hack or a leak, an Interior Ministry spokesman said. The information was shared through a Twitter account, which the company has since shut down, the New York Times reported.

German Chancellor Angela Merkel was affected, but an initial analysis showed no sensitive material from her office was released, said a government spokeswoman.

If the data release does stem from a hack, it would be the latest in a number of hi-tech assaults on political institutions and key individuals in Germany.

Last year, lawmakers said a powerful cyber attack breached the foreign ministry’s computer network.

Security officials have blamed most previous breaches on a Russian hacking group, while the Kremlin has consistently denied involvement in such incidents.

Cyber defense body BSI met in reaction to the latest attack to coordinate the response of intelligence and other federal agencies, a spokesman said.

Public broadcaster rbb, which broke the story, said the identity of the hackers and their motive were not known.

Government spokeswoman Martina Fietz confirmed personal data and documents “belonging to hundreds of politicians and public figures” had been released online.

German media said a fax number and two email addresses used by Merkel had been published. “The information and data drained from the chancellery and that relate to the chancellor are managable,” Fietz told a news conference.

A defense ministry spokesman said the armed forces were not affected, and broadcaster ARD – affiliated to rbb – said its journalists had as yet detected no incriminating content.

“This data breach …is alarming, but at the same time it’s not surprising,” said Mike Hart at commercial cyber security firm FireEye, citing previous hacks.

“…It highlights the need for the government to take cyber security very seriously.”

Security officials have blamed most previous attacks on a Russian hacking group APT28 that experts say has close ties to a Russian spy agency. Experts held the same group responsible for an attack ahead of the 2016 U.S. presidential election.

Bild newspaper reported that German authorities had asked the U.S. spy agency NSA for help in investigating the incident.

The mass-selling daily also said the secure internal network of Germany’s government was not hit by the hackers, citing sources inside the BSI.

The BSI said all but one of the seven parties in the Bundestag lower house were affected. German media said that party was the right-wing Alternative for Germany (AfD).

Broadcaster rbb reported earlier that the data, from hundreds of politicians and published on a Twitter account, included addresses, personal letters and copies of identity cards.

“Whoever is responsible, wants to intimidate politicians. That will not succeed,” said Lars Klingbeil, secretary general of the center-left Social Democrats, Merkel’s coalition partner.

Subscribe to CNBC on YouTube.

Watch: EU official: Technology can be ‘abused and used against us’


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: mikhail svetlov, getty images
Keywords: news, cnbc, companies, merkel, german, data, personal, spokesman, published, hackers, online, politicians, figures, public, hundreds, previous, cyber, rbb, russian


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Marketing services deals reached $33 billion in 2018, tech companies lead

Mergers and acquisitions (M&A) in the marketing world reached $33 billion in 2018, an increase of 144 percent on the previous year, according to consultancy R3. Tech businesses including Salesforce and Alibaba spent a total of $7.8 billion in 2018, a huge increase on the $632 million spent in 2017. Alibaba acquired a 6.62 percent stake in digital screen company Focus Media for $1.43 billion last July, as part of its exploration of “new models of digital marketing.” Agency holding companies inclu


Mergers and acquisitions (M&A) in the marketing world reached $33 billion in 2018, an increase of 144 percent on the previous year, according to consultancy R3. Tech businesses including Salesforce and Alibaba spent a total of $7.8 billion in 2018, a huge increase on the $632 million spent in 2017. Alibaba acquired a 6.62 percent stake in digital screen company Focus Media for $1.43 billion last July, as part of its exploration of “new models of digital marketing.” Agency holding companies inclu
Marketing services deals reached $33 billion in 2018, tech companies lead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: lucy handley, christina farr
Keywords: news, cnbc, companies, spent, ipg, services, tech, companies, 33, billion, including, ma, marketing, increase, reached, deals, lead, previous, 2018


Marketing services deals reached $33 billion in 2018, tech companies lead

Mergers and acquisitions (M&A) in the marketing world reached $33 billion in 2018, an increase of 144 percent on the previous year, according to consultancy R3.

Technology companies rather than agency holding groups were the biggest spenders last year, with Adobe’s $4.75 billion acquisition of software firm Marketo being the largest in R3’s December M&A league table.

Tech businesses including Salesforce and Alibaba spent a total of $7.8 billion in 2018, a huge increase on the $632 million spent in 2017. Alibaba acquired a 6.62 percent stake in digital screen company Focus Media for $1.43 billion last July, as part of its exploration of “new models of digital marketing.”

Agency holding companies including McCann owner IPG and Japanese group Dentsu spent $6.3 billion on deals in 2018, up from $2.7 billion the previous year. These groups also acquired tech companies, with IPG spending $2.3 billion on data mining firm Acxiom in July, in a move that IPG CEO Michael Roth said would help the business provide more personalized and targeted marketing.


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: lucy handley, christina farr
Keywords: news, cnbc, companies, spent, ipg, services, tech, companies, 33, billion, including, ma, marketing, increase, reached, deals, lead, previous, 2018


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Singapore’s fourth quarter GDP growth below forecast as trade concerns darken outlook

Singapore’s economy grew more slowly than forecast in the fourth quarter after the manufacturing sector shrank, adding to concerns that a trade dispute between the United States and China will drag on growth in 2019. Gross domestic product was forecast to have expanded 3.2 percent in the fourth quarter from the previous three months, according to six economists surveyed by Reuters. The economy grew a revised 3.5 percent in the previous quarter. From a year earlier, the economy grew 2.2 percent i


Singapore’s economy grew more slowly than forecast in the fourth quarter after the manufacturing sector shrank, adding to concerns that a trade dispute between the United States and China will drag on growth in 2019. Gross domestic product was forecast to have expanded 3.2 percent in the fourth quarter from the previous three months, according to six economists surveyed by Reuters. The economy grew a revised 3.5 percent in the previous quarter. From a year earlier, the economy grew 2.2 percent i
Singapore’s fourth quarter GDP growth below forecast as trade concerns darken outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: rustam azmi, getty images
Keywords: news, cnbc, companies, grew, forecast, trade, months, outlook, economy, fourth, gdp, 35, darken, previous, quarter, singapores, growth, concerns


Singapore's fourth quarter GDP growth below forecast as trade concerns darken outlook

Singapore’s economy grew more slowly than forecast in the fourth quarter after the manufacturing sector shrank, adding to concerns that a trade dispute between the United States and China will drag on growth in 2019.

Rising trade protectionism and uncertainty over U.S.-China relations are key risks for the city-state in the coming months although the impact from trade frictions have so far had only a limited impact on its small and open economy.

The trade-reliant economy grew 1.6 percent in the October-December period from the previous three months on an annualized and seasonally adjusted basis, the Ministry of Trade and Industry said in a statement, slower than expectations.

On a quarter-on-quarter seasonally-adjusted annualized basis, the manufacturing sector shrank 8.7 per cent, reversing from 3.1 percent growth in the third quarter, data showed.

Gross domestic product was forecast to have expanded 3.2 percent in the fourth quarter from the previous three months, according to six economists surveyed by Reuters. The economy grew a revised 3.5 percent in the previous quarter.

From a year earlier, the economy grew 2.2 percent in the fourth quarter, compared with the median forecast of 2.3 percent in the Reuters survey and a revised 2.3 percent growth in the third quarter.

The economy expanded 3.3 percent for all of 2018, slowing from a three-year high of 3.6 percent the prior year. The government’s forecast for 2018 growth had been 3.0 to 3.5 percent.

Singapore is considered a bellwether for global growth because international trade — equating to about 200 percent of its GDP — dwarfs its domestic economy.

Some economists have said that while growth is expected to slow in 2019, it may still expand at a sufficiently robust pace to justify more tightening by the Monetary Authority of Singapore.

However, a significant deterioration in the growth outlook will increase the odds for the central bank to stay on hold in April when it makes its next decision.

The government has a wide range for 2019’s GDP growth forecast of 1.5 to 3.5 percent.


Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: rustam azmi, getty images
Keywords: news, cnbc, companies, grew, forecast, trade, months, outlook, economy, fourth, gdp, 35, darken, previous, quarter, singapores, growth, concerns


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Oil prices fall after jump the day before; glut, economy worries weigh

Brent crude oil futures were down 16 cents, or 0.29 percent, at $54.31 per barrel by 0611 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 0.37 percent to $46.05 per barrel. Shim Hye-jin, a commodity analyst at Samsung Securities in Seoul, said oil prices were still low despite gains made the day before. “But if OPEC’s cuts are fulfilled, WTI prices are expected to rise to $50-60 a barrel, while Brent is expected to go up to between $58-70 a barrel next year.” Meanwhile, potentially bo


Brent crude oil futures were down 16 cents, or 0.29 percent, at $54.31 per barrel by 0611 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 0.37 percent to $46.05 per barrel. Shim Hye-jin, a commodity analyst at Samsung Securities in Seoul, said oil prices were still low despite gains made the day before. “But if OPEC’s cuts are fulfilled, WTI prices are expected to rise to $50-60 a barrel, while Brent is expected to go up to between $58-70 a barrel next year.” Meanwhile, potentially bo
Oil prices fall after jump the day before; glut, economy worries weigh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-27  Authors: getty images
Keywords: news, cnbc, companies, weigh, crude, petroleum, jump, fall, glut, report, prices, week, economy, barrel, previous, day, oil, wti, worries


Oil prices fall after jump the day before; glut, economy worries weigh

Oil fell on Thursday after soaring at least 7.9 percent in the previous session, as worries over a glut in crude supply and concerns over a faltering global economy pressured prices even as a stock market surge offered support.

Brent crude oil futures were down 16 cents, or 0.29 percent, at $54.31 per barrel by 0611 GMT. They rose 7.9 percent to $54.47 a barrel the day before.

U.S. West Texas Intermediate (WTI) crude futures fell 0.37 percent to $46.05 per barrel. They jumped 8.7 percent to $46.22 per barrel in the previous session.

Both crude benchmarks are down at least 37 percent from highs touched in October.

Global stocks rebounded on Wednesday on the back of the Trump administration’s attempt to shore up investor confidence and a report on strong U.S. holiday spending.

Shim Hye-jin, a commodity analyst at Samsung Securities in Seoul, said oil prices were still low despite gains made the day before.

“But if OPEC’s cuts are fulfilled, WTI prices are expected to rise to $50-60 a barrel, while Brent is expected to go up to between $58-70 a barrel next year.”

The Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, agreed at a meeting earlier this month to limit output by 1.2 million barrels per day starting in January.

Meanwhile, potentially bolstering oil prices, a preliminary Reuters poll on Wednesday forecast that U.S. crude inventories would drop 2.7 million barrels in the week to Dec. 21, marking their fourth straight week fall.

The American Petroleum Institute’s (API) inventory data is due on Thursday, while the government’s Energy Information Administration (EIA) is set to release its report on Friday.

— CNBC contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-12-27  Authors: getty images
Keywords: news, cnbc, companies, weigh, crude, petroleum, jump, fall, glut, report, prices, week, economy, barrel, previous, day, oil, wti, worries


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US oil prices rebound after tumbling to lowest since June 2017 on economy fears

They had slumped 6.7 percent in the previous session to $42.53 a barrel – the lowest since June 2017. Meanwhile Brent crude oil futures were down 11 cents or 0.22 percent at $50.36 a barrel, having skidded 6.2 percent in the previous session to $50.47 a barrel, the weakest since August 2017. “U.S. equity futures are trading a bit firmer this morning triggering some little buying interest in the oil markets,” said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singa


They had slumped 6.7 percent in the previous session to $42.53 a barrel – the lowest since June 2017. Meanwhile Brent crude oil futures were down 11 cents or 0.22 percent at $50.36 a barrel, having skidded 6.2 percent in the previous session to $50.47 a barrel, the weakest since August 2017. “U.S. equity futures are trading a bit firmer this morning triggering some little buying interest in the oil markets,” said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singa
US oil prices rebound after tumbling to lowest since June 2017 on economy fears Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-26  Authors: andrew burton, getty images
Keywords: news, cnbc, companies, markets, cut, opec, oil, barrel, prices, economy, rebound, fears, 2017, market, futures, previous, trading, session, lowest, tumbling


US oil prices rebound after tumbling to lowest since June 2017 on economy fears

Oil prices were mixed in thin trading on Wednesday as the U.S. benchmark rebounded from steep losses in the previous session, even though concern over the health of the global economy continued to overshadow the market in the longer term.

U.S. West Texas Intermediate (WTI) crude futures, were up 29 cents, or 0.68 percent, at $42.82 per barrel, at 0355 GMT, having at one point risen as high as 2 percent from the last close. They had slumped 6.7 percent in the previous session to $42.53 a barrel – the lowest since June 2017.

Meanwhile Brent crude oil futures were down 11 cents or 0.22 percent at $50.36 a barrel, having skidded 6.2 percent in the previous session to $50.47 a barrel, the weakest since August 2017.

“$50 is a psychological support level (for Brent),” said Margaret Yang, market analyst for CMC Markets in Singapore.

“But market confidence needs to be restored for oil price…that include an equity market rebound and/or a bigger production cut from major oil exporters,” Yang said, referring to an OPEC-led agreement to lower output from next month.

Broader financial markets have been under pressure on worries about a global economic slowdown amid higher U.S. interest rates and the U.S.-China trade dispute.

“U.S. equity futures are trading a bit firmer this morning triggering some little buying interest in the oil markets,” said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore.

But Innes added macroeconomics fears will continue unless the Organization of the Petroleum Exporting Countries (OPEC) “reassures markets the viability of their supply cuts and even impose deeper ones as some members have suggested”. OPEC and allies led by Russia agreed this month to cut oil production by 1.2 million barrels per day from January.

Russian Energy Minister Alexander Novak said on Tuesday that oil prices would become more stable in the first half of 2019, supported by OPEC and non-OPEC countries’ joint efforts to cut output.

Elsewhere, U.S. political turmoil triggered by the partial shutdown of the federal government is also adding to market concerns. President Donald Trump said on Tuesday that shutdown could last until his demand for U.S.-Mexico border wall money is met.


Company: cnbc, Activity: cnbc, Date: 2018-12-26  Authors: andrew burton, getty images
Keywords: news, cnbc, companies, markets, cut, opec, oil, barrel, prices, economy, rebound, fears, 2017, market, futures, previous, trading, session, lowest, tumbling


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post