Huawei Founder Ren Zhengfei says he would not aid Chinese espionage

Huawei would not help China spy on the U.S. with its devices, even if mandated by Chinese law to do so, founder and President Ren Zhengfei told CBS News in an interview that aired Wednesday. “And also, we never participate in espionage and we do not allow any of our employees to do any act like that. Even if we were required by Chinese law, we would firmly reject that.” Last February, several U.S. security agency representatives testified on potential security risks of Chinese telecommunications


Huawei would not help China spy on the U.S. with its devices, even if mandated by Chinese law to do so, founder and President Ren Zhengfei told CBS News in an interview that aired Wednesday. “And also, we never participate in espionage and we do not allow any of our employees to do any act like that. Even if we were required by Chinese law, we would firmly reject that.” Last February, several U.S. security agency representatives testified on potential security risks of Chinese telecommunications
Huawei Founder Ren Zhengfei says he would not aid Chinese espionage Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: lauren feiner, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, telecommunications, huawei, founder, security, cbs, espionage, ren, company, chinese, aid, zhengfei, spy, law, told, devices


Huawei Founder Ren Zhengfei says he would not aid Chinese espionage

Huawei would not help China spy on the U.S. with its devices, even if mandated by Chinese law to do so, founder and President Ren Zhengfei told CBS News in an interview that aired Wednesday.

Ren, whose daughter has been held by Canada since Dec. 1 on an extradition request by the United States, denied allegations by the U.S. government that the company aids Chinese intelligence by building a backdoor in its devices.

“Absolutely not possible,” Zhengfei said. “And also, we never participate in espionage and we do not allow any of our employees to do any act like that. And we absolutely never install backdoors. Even if we were required by Chinese law, we would firmly reject that.”

U.S. officials still fear that Chinese telecommunications firms could be used by the country to spy on Americans in part with the help of a 2017 law that gives Chinese officials new legal justification for monitoring people for national security purposes.

Last February, several U.S. security agency representatives testified on potential security risks of Chinese telecommunications companies like Huawei. FBI Director Chris Wray told the Senate Intelligence Committee at the time that devices from these companies could allow for “undetected espionage” and the ability for malicious actors to steal information.

“We’re deeply concerned about the risks of allowing any company or entity that is beholden to foreign governments that don’t share our values to gain positions of power inside our telecommunications networks,” Wray said.

In April, the Pentagon warned that Huawei mobile phones and modems could potentially be used to spy on Americans and stopped selling the devices at stores on military bases worldwide.

The U.S. government also has accused the company and Ren’s daughter, CFO, Meng Wanzhou, of wire fraud in an attempt to violate sanctions on Iran. It also has accused the company of stealing trade secrets from T-Mobile. Ren told CBS his daughter’s arrest was “politically motivated.”

The Trump administration is also considering an executive order that would ban Huawei telecom equipment from being sold in the U.S., an administration told CNBC earlier this month.

See the full interview on CBS News.

-CNBC’s Amanda Macias and Kate Fazzini contributed to this report.

Subscribe to CNBC on YouTube.

Watch: Here’s what you need to know about the Huawei debate


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: lauren feiner, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, telecommunications, huawei, founder, security, cbs, espionage, ren, company, chinese, aid, zhengfei, spy, law, told, devices


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Huawei Founder Ren Zhengfei says he would not aid Chinese espionage

Huawei would not help China spy on the U.S. with its devices, even if mandated by Chinese law to do so, founder and President Ren Zhengfei told CBS News in an interview that aired Wednesday. “And also, we never participate in espionage and we do not allow any of our employees to do any act like that. Even if we were required by Chinese law, we would firmly reject that.” Last February, several U.S. security agency representatives testified on potential security risks of Chinese telecommunications


Huawei would not help China spy on the U.S. with its devices, even if mandated by Chinese law to do so, founder and President Ren Zhengfei told CBS News in an interview that aired Wednesday. “And also, we never participate in espionage and we do not allow any of our employees to do any act like that. Even if we were required by Chinese law, we would firmly reject that.” Last February, several U.S. security agency representatives testified on potential security risks of Chinese telecommunications
Huawei Founder Ren Zhengfei says he would not aid Chinese espionage Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: lauren feiner, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, telecommunications, huawei, founder, security, cbs, espionage, ren, company, chinese, aid, zhengfei, spy, law, told, devices


Huawei Founder Ren Zhengfei says he would not aid Chinese espionage

Huawei would not help China spy on the U.S. with its devices, even if mandated by Chinese law to do so, founder and President Ren Zhengfei told CBS News in an interview that aired Wednesday.

Ren, whose daughter has been held by Canada since Dec. 1 on an extradition request by the United States, denied allegations by the U.S. government that the company aids Chinese intelligence by building a backdoor in its devices.

“Absolutely not possible,” Zhengfei said. “And also, we never participate in espionage and we do not allow any of our employees to do any act like that. And we absolutely never install backdoors. Even if we were required by Chinese law, we would firmly reject that.”

U.S. officials still fear that Chinese telecommunications firms could be used by the country to spy on Americans in part with the help of a 2017 law that gives Chinese officials new legal justification for monitoring people for national security purposes.

Last February, several U.S. security agency representatives testified on potential security risks of Chinese telecommunications companies like Huawei. FBI Director Chris Wray told the Senate Intelligence Committee at the time that devices from these companies could allow for “undetected espionage” and the ability for malicious actors to steal information.

“We’re deeply concerned about the risks of allowing any company or entity that is beholden to foreign governments that don’t share our values to gain positions of power inside our telecommunications networks,” Wray said.

In April, the Pentagon warned that Huawei mobile phones and modems could potentially be used to spy on Americans and stopped selling the devices at stores on military bases worldwide.

The U.S. government also has accused the company and Ren’s daughter, CFO, Meng Wanzhou, of wire fraud in an attempt to violate sanctions on Iran. It also has accused the company of stealing trade secrets from T-Mobile. Ren told CBS his daughter’s arrest was “politically motivated.”

The Trump administration is also considering an executive order that would ban Huawei telecom equipment from being sold in the U.S., an administration told CNBC earlier this month.

See the full interview on CBS News.

-CNBC’s Amanda Macias and Kate Fazzini contributed to this report.

Subscribe to CNBC on YouTube.

Watch: Here’s what you need to know about the Huawei debate


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: lauren feiner, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, telecommunications, huawei, founder, security, cbs, espionage, ren, company, chinese, aid, zhengfei, spy, law, told, devices


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Huawei founder Ren Zhengfei says arrest of CFO Meng Wanzhou is politically motivated

Huawei founder Ren Zhengfei said on Monday that the arrest of his daughter, Huawei Chief Financial Officer Meng Wanzhou, was politically motivated. This kind of politically motivated act is not acceptable,” Ren told the BBCin an interview. Canada arrested Meng on Dec. 1 at the request of the United States. Huawei, along with another Chinese network equipment company, ZTE Corp , has been accused by the United States of working at the behest of the Chinese government. Ren said the company could do


Huawei founder Ren Zhengfei said on Monday that the arrest of his daughter, Huawei Chief Financial Officer Meng Wanzhou, was politically motivated. This kind of politically motivated act is not acceptable,” Ren told the BBCin an interview. Canada arrested Meng on Dec. 1 at the request of the United States. Huawei, along with another Chinese network equipment company, ZTE Corp , has been accused by the United States of working at the behest of the Chinese government. Ren said the company could do
Huawei founder Ren Zhengfei says arrest of CFO Meng Wanzhou is politically motivated Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, wanzhou, founder, states, motivated, huawei, ren, chinese, equipment, politically, arrest, meng, zhengfei, company, told, uk, united, cfo


Huawei founder Ren Zhengfei says arrest of CFO Meng Wanzhou is politically motivated

Huawei founder Ren Zhengfei said on Monday that the arrest of his daughter, Huawei Chief Financial Officer Meng Wanzhou, was politically motivated.

“Firstly, I object to what the U.S. has done. This kind of politically motivated act is not acceptable,” Ren told the BBC

in an interview.

Canada arrested Meng on Dec. 1 at the request of the United States. Meng was charged with bank and wire fraud to violate American sanctions against Iran. Huawei, along with another Chinese network equipment company, ZTE Corp , has been accused by the United States of working at the behest of the Chinese government. The United States has said their equipment could be used to spy on Americans. Huawei has repeatedly denied the claims.

Commenting on the spying concerns, the Huawei founder reiterated that the company will “never undertake” any spying activities.

Huawei, the world’s biggest producer of telecoms equipment, faces intense scrutiny in the West over its relationship with the Chinese government and allegations of enabling state espionage, with the United States calling for its allies not to use its technology.

Ren said the company could downsize to weather such attempts by the United States.

“The world cannot leave us because we are more advanced. Even if they (U.S.) persuade more countries not to use us

temporarily, we can always scale things down a bit,” he added. In comments on a potential ban in the UK, Ren said it would not make the company withdraw its UK investments, adding that it will shift its investments to the UK from the United States if U.S. actions against Huawei continue.

“We will invest even more in the UK. Because if the U.S. doesn’t trust us, then we will shift our investment from the U.S. to the UK on an even bigger scale,” Ken told the BBC. Reuters reported earlier on Monday that British security officials do not support a full ban of Huawei from national telecoms networks despite U.S. allegations against the Chinese firm.


Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, wanzhou, founder, states, motivated, huawei, ren, chinese, equipment, politically, arrest, meng, zhengfei, company, told, uk, united, cfo


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‘It’s a war’ — Detroit automakers battle for dominance in wildly profitable heavy duty truck market

Buyers with money to burn can find plenty of upscale products at this week’s Chicago Auto Show, the event filling the Windy City’s McCormick Place convention center with offerings like the Maserati Levante, BMW 745i and Mercedes-Benz S-Class. But more than a few high-line buyers are looking in places you might not expect — like the more plebian Ford stand. Among the mainstream-priced Fusion sedans and Edge utility vehicles, Ford is also showing off the latest version of its Super Duty pickups. T


Buyers with money to burn can find plenty of upscale products at this week’s Chicago Auto Show, the event filling the Windy City’s McCormick Place convention center with offerings like the Maserati Levante, BMW 745i and Mercedes-Benz S-Class. But more than a few high-line buyers are looking in places you might not expect — like the more plebian Ford stand. Among the mainstream-priced Fusion sedans and Edge utility vehicles, Ford is also showing off the latest version of its Super Duty pickups. T
‘It’s a war’ — Detroit automakers battle for dominance in wildly profitable heavy duty truck market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: paul a eisenstein, paul eisenstein, qilai shen, bloomberg, getty images, rebecca cook, jeff kowalsky, mack hogan cnbc, daniel acker, mark elias
Keywords: news, cnbc, companies, war, wildly, truck, version, dominance, detroit, upscale, ford, buyers, heavy, duty, weeks, windy, super, profitable, vehicles, battle, utility, market, territory


'It's a war' — Detroit automakers battle for dominance in wildly profitable heavy duty truck market

Buyers with money to burn can find plenty of upscale products at this week’s Chicago Auto Show, the event filling the Windy City’s McCormick Place convention center with offerings like the Maserati Levante, BMW 745i and Mercedes-Benz S-Class.

But more than a few high-line buyers are looking in places you might not expect — like the more plebian Ford stand.

Among the mainstream-priced Fusion sedans and Edge utility vehicles, Ford is also showing off the latest version of its Super Duty pickups. That includes the Limited model that, when fully loaded, can nudge up to around $100,000, the first factory pickup to break into six-figure territory.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: paul a eisenstein, paul eisenstein, qilai shen, bloomberg, getty images, rebecca cook, jeff kowalsky, mack hogan cnbc, daniel acker, mark elias
Keywords: news, cnbc, companies, war, wildly, truck, version, dominance, detroit, upscale, ford, buyers, heavy, duty, weeks, windy, super, profitable, vehicles, battle, utility, market, territory


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China’s services sector moderates in January but still solid, survey shows

China’s sprawling services sector maintained a solid pace of expansion in January even though growth moderated slightly, a private survey showed on Sunday, offering continued support for the world’s second-largest economy as manufacturing cools. The resilience of the services sector, which accounts for more than half of China’s gross domestic product, is key to countering the ongoing slowdown in manufacturing. Chinese factories have been hit by a long-term restructuring of industries, a crackdow


China’s sprawling services sector maintained a solid pace of expansion in January even though growth moderated slightly, a private survey showed on Sunday, offering continued support for the world’s second-largest economy as manufacturing cools. The resilience of the services sector, which accounts for more than half of China’s gross domestic product, is key to countering the ongoing slowdown in manufacturing. Chinese factories have been hit by a long-term restructuring of industries, a crackdow
China’s services sector moderates in January but still solid, survey shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, sector, solid, manufacturing, economy, survey, moderates, trade, key, pmi, support, growth, services, chinas, shows


China's services sector moderates in January but still solid, survey shows

China’s sprawling services sector maintained a solid pace of expansion in January even though growth moderated slightly, a private survey showed on Sunday, offering continued support for the world’s second-largest economy as manufacturing cools.

The Caixin/Markit services purchasing managers’ index (PMI) fell slightly to 53.6 in January from 53.9 in December, but well above the 50.0 mark separating growth from contraction.

Overseas sales continued to support the sector, with new export business rising at the fastest clip in more than a year, thanks to efforts among Chinese services firms to attract foreign clients. Overall new orders also ticked higher, to 52.6 from 52.3 in December.

The resilience of the services sector, which accounts for more than half of China’s gross domestic product, is key to countering the ongoing slowdown in manufacturing.

Chinese factories have been hit by a long-term restructuring of industries, a crackdown on pollution and China’s trade tensions with the United States.

“Overall, China’s economic growth was weighed on by weakening domestic demand in January, although exports improved marginally as the Sino-U.S. trade negotiations flagged signs of progress,” said Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group.

China’s policies to support domestic demand and developments in the trade war “will remain key to the prospects of the Chinese economy. Given that the government has refrained from taking policies of strong stimulus, the downward trend of the economy may be hard to turn around for the time being,” Zhong said.

Caixin’s composite manufacturing and services PMI, also released on Sunday, slipped to 50.9 in January from 52.2 in December. The January manufacturing PMI, announced on Friday, was 48.3, the lowest since February 2016.

Beijing has taken a raft of measures in the past year to encourage growth – reducing the levels of cash that banks must hold as reserves to spur lending, cutting taxes and fees, and expediting infrastructure spending.

Resolving trade tensions with the United States remains key to improving sentiment and lifting the outlook for Chinese exporters.

Illustrating how China’s services sector is holding up, services firms added to their payroll numbers in January.

Inflation pressures eased, with operating costs and output charges rising at a slower pace.

Caixin’s upbeat readings for services were consistent with a official survey published on Thursday that showed the industry picked up for a second straight month in January.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, sector, solid, manufacturing, economy, survey, moderates, trade, key, pmi, support, growth, services, chinas, shows


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China’s real estate loan growth slows further in 2018

Outstanding yuan property loans grew 20 percent from a year earlier to 38.7 trillion yuan ($5.72 trillion) by end-December, compared with 20.9 percent growth in 2017, the People’s Bank of China (PBOC) said in a quarterly financial report. Outstanding mortgage lending climbed 17.8 percent year-on-year to 25.75 trillion yuan by the end of 2018, below a 22.2 percent rise in 2017, central bank data showed. That was just ahead of the slowest pace of growth last year at 7.7 percent recorded for Octobe


Outstanding yuan property loans grew 20 percent from a year earlier to 38.7 trillion yuan ($5.72 trillion) by end-December, compared with 20.9 percent growth in 2017, the People’s Bank of China (PBOC) said in a quarterly financial report. Outstanding mortgage lending climbed 17.8 percent year-on-year to 25.75 trillion yuan by the end of 2018, below a 22.2 percent rise in 2017, central bank data showed. That was just ahead of the slowest pace of growth last year at 7.7 percent recorded for Octobe
China’s real estate loan growth slows further in 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, real, loans, chinas, central, bank, loan, slows, property, pace, 2018, sector, data, growth, yuan, estate, trillion


China's real estate loan growth slows further in 2018

Loans to China’s property sector grew at a slower pace in 2018 as Beijing tightened home-purchase rules to curb bubble risk, but lending to property developers expanded slightly faster than the year before, central bank data showed on Friday.

Outstanding yuan property loans grew 20 percent from a year earlier to 38.7 trillion yuan ($5.72 trillion) by end-December, compared with 20.9 percent growth in 2017, the People’s Bank of China (PBOC) said in a quarterly financial report.

Outstanding mortgage lending climbed 17.8 percent year-on-year to 25.75 trillion yuan by the end of 2018, below a 22.2 percent rise in 2017, central bank data showed.

Policymakers have vowed to ensure “stable and healthy” development of the property market, repeatedly emphasizing that homes are for living in, not speculative investment.

The government’s sustained drive to reduce debt risks in the economy has cooled the property market but a continued downturn in credit growth in the sector could add to growing pressures on the world’s second-largest economy.

The real estate sector is a key driver of economic growth, so any further weakness could influence the pace and scope of fresh stimulus steps expected from Beijing this year.

Property investment is also looking wobbly, with analysts waiting to see if the government will risk loosening restrictions on home buyers that have kept speculation in check.

Real estate investment in December rose 8.2 percent from a year earlier, down from 9.3 percent in November, according to Reuters calculations based on data released by the National Bureau of Statistics.

That was just ahead of the slowest pace of growth last year at 7.7 percent recorded for October.

Developers raised their borrowings last year though, with loans extended for property development up 22.6 percent in 2018 versus growth of 21.7 percent in 2017, the report showed.

The central bank also said outstanding household loans jumped 18.2 percent to 47.9 trillion yuan by end-2018.


Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, real, loans, chinas, central, bank, loan, slows, property, pace, 2018, sector, data, growth, yuan, estate, trillion


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Standard Chartered chief pushes back on report that its biggest shareholder is unhappy

Standard Chartered’s largest shareholder is “very supportive” of the company, chief executive Bill Winters said Wednesday, following a report that it is increasingly unhappy with his restructuring efforts. “They have been a very supportive shareholder throughout,” he told CNBC’s Geoff Cutmore at the World Economic Forum in Davos, Switzerland. “We have an extremely active dialogue with all of our large shareholders, of course including Temasek.” The FT also reported that Temasek would prefer an e


Standard Chartered’s largest shareholder is “very supportive” of the company, chief executive Bill Winters said Wednesday, following a report that it is increasingly unhappy with his restructuring efforts. “They have been a very supportive shareholder throughout,” he told CNBC’s Geoff Cutmore at the World Economic Forum in Davos, Switzerland. “We have an extremely active dialogue with all of our large shareholders, of course including Temasek.” The FT also reported that Temasek would prefer an e
Standard Chartered chief pushes back on report that its biggest shareholder is unhappy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: ryan browne, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, temasek, including, unhappy, chief, standard, supportive, report, biggest, reported, chartered, winters, pushes, shareholder, times, bank


Standard Chartered chief pushes back on report that its biggest shareholder is unhappy

Standard Chartered’s largest shareholder is “very supportive” of the company, chief executive Bill Winters said Wednesday, following a report that it is increasingly unhappy with his restructuring efforts.

Singapore’s state-owned investment arm Temasek has been putting the bank under pressure, requesting more frequent briefings from executives and even mulling a position on the firm’s board, the Financial Times newspaper reported Monday, citing two people with knowledge of the matter.

But Winters on Wednesday pushed back against that report, saying “I’d be surprised if I read anything in the Financial Times which I hadn’t heard from them directly.”

“They have been a very supportive shareholder throughout,” he told CNBC’s Geoff Cutmore at the World Economic Forum in Davos, Switzerland. “We have an extremely active dialogue with all of our large shareholders, of course including Temasek.”

The FT also reported that Temasek would prefer an external replacement for Winters once he steps down as chief. It highlighted Piyush Gupta, chief executive of Singaporean bank DBS, as a preferred replacement.

Temasek had asked executives at the bank why it had been unable to generate close to the double-digit return on equity seen in Asian rivals, including DBS, according to the FT.


Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: ryan browne, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, temasek, including, unhappy, chief, standard, supportive, report, biggest, reported, chartered, winters, pushes, shareholder, times, bank


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JP Morgan Asset Management warns of recession risks

‘Exceptional period of growth’ is done in US, JPMorgan global market watcher warns 4:22 PM ET Tue, 22 Jan 2019 | 01:25One of Wall Street’s largest investing firms warns that a global growth slowdown could sink the U.S. into recession this year. According to J.P. Morgan Asset Management’s Ben Mandel, it’s a risk pushing the firm to turn cautious on stock markets here and abroad. “The U.S. sort of coming back to Earth after an exceptional period of growth and then no one really picking up the slac


‘Exceptional period of growth’ is done in US, JPMorgan global market watcher warns 4:22 PM ET Tue, 22 Jan 2019 | 01:25One of Wall Street’s largest investing firms warns that a global growth slowdown could sink the U.S. into recession this year. According to J.P. Morgan Asset Management’s Ben Mandel, it’s a risk pushing the firm to turn cautious on stock markets here and abroad. “The U.S. sort of coming back to Earth after an exceptional period of growth and then no one really picking up the slac
JP Morgan Asset Management warns of recession risks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: stephanie landsman, vcg, visual china group, getty images, dario pignatelli, bloomberg, carlos barria, qilai shen, david a grogan
Keywords: news, cnbc, companies, global, morgan, warns, recession, synchronized, lower, risks, asset, mandel, management, growth, jan, slowdown, jp, sp, period


JP Morgan Asset Management warns of recession risks

‘Exceptional period of growth’ is done in US, JPMorgan global market watcher warns 4:22 PM ET Tue, 22 Jan 2019 | 01:25

One of Wall Street’s largest investing firms warns that a global growth slowdown could sink the U.S. into recession this year.

According to J.P. Morgan Asset Management’s Ben Mandel, it’s a risk pushing the firm to turn cautious on stock markets here and abroad.

“What’s happening right now is a little bit of difficulty discerning between what is a late [economic] cycle slowdown and what is the end of the cycle,” the firm’s global strategist said Tuesday on CNBC’s “Futures Now.” “The U.S. sort of coming back to Earth after an exceptional period of growth and then no one really picking up the slack.”

Weak economic figures in China and lower growth estimates from the International Monetary Fund stirred up global slowdown fears and sent stocks lower Tuesday. The Dow and S&P 500 snapped four-day winning streaks and saw their worst day since Jan. 3.

The S&P closed back in correction territory. The index is now more than 10 percent off its all-time high hit on Sept. 21. Almost half of S&P companies do business overseas.

“We went from a story of synchronized global growth in 2017 to one in which there was U.S. growth leadership in 2018,” Mandel said. “At the beginning part of 2019, it’s looking to become more synchronized again, but not in a good way.”

The slowdown jitters are being exacerbated by a lingering U.S.-China trade war and uncertainty stemming from Brexit.


Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: stephanie landsman, vcg, visual china group, getty images, dario pignatelli, bloomberg, carlos barria, qilai shen, david a grogan
Keywords: news, cnbc, companies, global, morgan, warns, recession, synchronized, lower, risks, asset, mandel, management, growth, jan, slowdown, jp, sp, period


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Gold is entering a ‘golden cross’ that may lead to more gains

On Friday, gold went negative on the week, its first down week in five. However, the precious metal is up 10 percent since hitting 52-week low in August, and the chart is now flashing a secret buy sign: The “golden cross.” Worth points out that a “wedge” has formed in the chart of gold over the past few years, and that’s got the technician looking for an bounce ahead for the metal. As for how high gold could run, Worth is looking to $1,300 as a “critical juncture” for the metal. According to the


On Friday, gold went negative on the week, its first down week in five. However, the precious metal is up 10 percent since hitting 52-week low in August, and the chart is now flashing a secret buy sign: The “golden cross.” Worth points out that a “wedge” has formed in the chart of gold over the past few years, and that’s got the technician looking for an bounce ahead for the metal. As for how high gold could run, Worth is looking to $1,300 as a “critical juncture” for the metal. According to the
Gold is entering a ‘golden cross’ that may lead to more gains Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-19  Authors: annie pei, dario pignatelli, bloomberg, getty images, qilai shen, source, kai pfaffenbach, david a grogan
Keywords: news, cnbc, companies, gains, lead, week, entering, looking, resolved, technician, points, typically, golden, moving, worth, cross, gold, metal


Gold is entering a 'golden cross' that may lead to more gains

Over the last few months, all that glitters has been gold.

On Friday, gold went negative on the week, its first down week in five. However, the precious metal is up 10 percent since hitting 52-week low in August, and the chart is now flashing a secret buy sign: The “golden cross.”

The term refers to what happens when the 50-day moving average crosses above its 200-day moving average. Investors have typically view this as a bullish signal that points to more upside — and Cornerstone Macro technician Carter Worth believes the gold bulls might just be right.

Worth points out that a “wedge” has formed in the chart of gold over the past few years, and that’s got the technician looking for an bounce ahead for the metal.

“The point is that there is a lot of tension and typically this setup is resolved in a dynamic way,” he said Thursday on CNBC’s “Futures Now,” adding that “our bet is it’s going to be resolved up.”

What’s more, gold is outperforming the overall commodities market, leading Worth to say that the metal is seeing “the prospect of an important breakout” — thanks to its strength.

As for how high gold could run, Worth is looking to $1,300 as a “critical juncture” for the metal. According to the technician, if gold manages to break through $1,300, a level it last hit in June, then a rally up to $1,350 is likely.


Company: cnbc, Activity: cnbc, Date: 2019-01-19  Authors: annie pei, dario pignatelli, bloomberg, getty images, qilai shen, source, kai pfaffenbach, david a grogan
Keywords: news, cnbc, companies, gains, lead, week, entering, looking, resolved, technician, points, typically, golden, moving, worth, cross, gold, metal


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Tesla has $920 million in debt that’s coming due, could affect cash

Tesla has a billion dollar debt coming due, and it could wipe out nearly a third of the company’s cash if the stock price doesn’t improve. But Tesla’s stock hasn’t traded above $359 for weeks. If the shares are about $359.87, then Tesla’s debt converts into Tesla shares. If not, Tesla will have to pay the debt in cash. Tesla reported cash and cash equivalents of $3.37 billion at the end of its September quarter.


Tesla has a billion dollar debt coming due, and it could wipe out nearly a third of the company’s cash if the stock price doesn’t improve. But Tesla’s stock hasn’t traded above $359 for weeks. If the shares are about $359.87, then Tesla’s debt converts into Tesla shares. If not, Tesla will have to pay the debt in cash. Tesla reported cash and cash equivalents of $3.37 billion at the end of its September quarter.
Tesla has $920 million in debt that’s coming due, could affect cash Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: sara salinas, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, quarter, 920, tesla, million, doesnt, stock, pay, shares, affect, thats, coming, debt, cash, teslas, price


Tesla has $920 million in debt that's coming due, could affect cash

Tesla has a billion dollar debt coming due, and it could wipe out nearly a third of the company’s cash if the stock price doesn’t improve.

About $920 million in convertible senior notes expires on March 1 at a conversion price of $359.87 per share. But Tesla’s stock hasn’t traded above $359 for weeks. If the shares are about $359.87, then Tesla’s debt converts into Tesla shares. If not, Tesla will have to pay the debt in cash.

Tesla reported cash and cash equivalents of $3.37 billion at the end of its September quarter. The company continues to reveal pressure to maintain profitability, and announced Friday it would cut 7 percent of its full-time workforce.

Shares fell more than 10 percent Friday following the announcement to trade around $310 per share.

Musk said during the company’s third quarter earnings call that Tesla plans to honor the original maturation date.

“The current operating plan is to pay off our debts and not to refinance them but to pay them off and reduce the debt load and overall leverage of the company,” Musk said at the time.

Tesla had previously notified bondholders they could be paid out in a 50-50 mix of cash and common stock, according to Bloomberg. But if the stock doesn’t recover above $359 — a gain of 16 percent from Friday’s intraday price — by the conversion date, Tesla won’t have a choice.

WATCH: Tesla is laying off workers. Here’s what investors need to know.


Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: sara salinas, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, quarter, 920, tesla, million, doesnt, stock, pay, shares, affect, thats, coming, debt, cash, teslas, price


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