Only one bank stock looks ready to rally as financials gear up for earnings: Technical analyst

“Some of the brokers, I think, are a little more interesting in terms of what to buy heading into earnings. I would buy Goldman Sachs before I would touch things like Bank of America or Citigroup,” Newton said. The financials finished 2019 as the year’s third-best performing sector, giving Petrides hope that the big banks would use the positive momentum wisely this quarter. That’s going to add some noise to the upcoming earnings calls, but by and large, I think the banks are still attractive lon


“Some of the brokers, I think, are a little more interesting in terms of what to buy heading into earnings.
I would buy Goldman Sachs before I would touch things like Bank of America or Citigroup,” Newton said.
The financials finished 2019 as the year’s third-best performing sector, giving Petrides hope that the big banks would use the positive momentum wisely this quarter.
That’s going to add some noise to the upcoming earnings calls, but by and large, I think the banks are still attractive lon
Only one bank stock looks ready to rally as financials gear up for earnings: Technical analyst Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: lizzy gurdus
Keywords: news, cnbc, companies, technical, rally, bank, analyst, stock, newton, upcoming, financials, think, looks, earnings, banks, trading, ready, sector, really, gear


Only one bank stock looks ready to rally as financials gear up for earnings: Technical analyst

The bank bonanza is about to begin.

Citigroup, Wells Fargo and J.P. Morgan Chase will kick off earnings season on Tuesday, their quarterly results marking the start of a bank-heavy reporting period that will see other giants including Bank of America, Morgan Stanley and BlackRock share their results from last quarter.

But only one banking stock stands out as a buy among the largely overheated group, Mark Newton, president and founder of Newton Advisors and a longtime chart analyst, told CNBC’s “Trading Nation” on Friday.

“One stock … that has shown some pretty decent signs of strength of late has been Goldman Sachs, which is really not near former highs, but just starting to show much better signs of acceleration,” Newton said, pointing to its weekly chart.

Unlike Citigroup and Bank of America, which are nearing their 52-week highs, Goldman’s stock is still bucking the broader trend in the Financial Select Sector SPDR Fund (XLF), which tracks the group and is sitting at its highest level since 2007, Newton said.

“Some of the brokers, I think, are a little more interesting in terms of what to buy heading into earnings. I would buy Goldman Sachs before I would touch things like Bank of America or Citigroup,” Newton said. “I think Goldman can potentially get back towards former highs, but this group as a whole has been under pressure, it’s an underperformer and my thinking is it’s right to really hold off for now, for the most part.”

Goldman closed down by less than 0.5% on Friday at $242.11.

John Petrides, portfolio manager in the wealth management division of Tocqueville Asset Management, took the other side of the coin.

“The large U.S. money centers are quite attractive,” he said in the same “Trading Nation” interview. “Remember, the outperformance that we’ve seen [in the financials] was really the last quarter. For the first nine months [of 2019], the sector was a relative dog, particularly when the yield curve inverted back in August.”

The financials finished 2019 as the year’s third-best performing sector, giving Petrides hope that the big banks would use the positive momentum wisely this quarter.

“What I’m focused on in the upcoming earnings is how the banks are going to deploy their capital: one, reinvesting in their business as they become more fintech-focused and try to continue to survive in this low-yield environment, and the second is the banks are flush with cash. They’re going to be returning a ton of that to shareholders,” the wealth manager said.

“They’re increasing their dividends and buying back stock,” Petrides said. “The banks do have a new accounting feature this upcoming year. They have to report CECL, current expected credit losses. That’s going to add some noise to the upcoming earnings calls, but by and large, I think the banks are still attractive longer term.”

The XLF ended trading Friday down less than 1%. The SPDR S&P Bank ETF (KBE), which tracks the banks more broadly, was down just over 1%.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: lizzy gurdus
Keywords: news, cnbc, companies, technical, rally, bank, analyst, stock, newton, upcoming, financials, think, looks, earnings, banks, trading, ready, sector, really, gear


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Pelosi stands firm on Trump impeachment articles: ‘I’ll send them over when I’m ready’

WASHINGTON — House Speaker Nancy Pelosi said Thursday she will not rush to deliver two articles of impeachment against President Donald Trump to the Senate. That may be soon,” Pelosi told reporters, revealing no signs that she planned to end her 3-week-long effort to negotiate with the Republican-controlled chamber over the rules of Trump’s impeachment trial. Following the articles’ passage, Pelosi said she planned to hold them until McConnell assured her he would conduct what Democrats called “


WASHINGTON — House Speaker Nancy Pelosi said Thursday she will not rush to deliver two articles of impeachment against President Donald Trump to the Senate.
That may be soon,” Pelosi told reporters, revealing no signs that she planned to end her 3-week-long effort to negotiate with the Republican-controlled chamber over the rules of Trump’s impeachment trial.
Following the articles’ passage, Pelosi said she planned to hold them until McConnell assured her he would conduct what Democrats called “
Pelosi stands firm on Trump impeachment articles: ‘I’ll send them over when I’m ready’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: christina wilkie kevin breuninger, christina wilkie, kevin breuninger
Keywords: news, cnbc, companies, republicans, trump, stands, ill, impeachment, articles, pressure, president, send, senate, firm, ukraine, trial, ready, pelosi


Pelosi stands firm on Trump impeachment articles: 'I'll send them over when I'm ready'

Speaker of the House Nancy Pelosi, D-Calif., meets with reporters following escalation of tensions this week between the U.S. and Iran, Thursday, Jan. 9, 2020, on Capitol Hill in Washington.

WASHINGTON — House Speaker Nancy Pelosi said Thursday she will not rush to deliver two articles of impeachment against President Donald Trump to the Senate.

“I’ll send them over when I’m ready. That may be soon,” Pelosi told reporters, revealing no signs that she planned to end her 3-week-long effort to negotiate with the Republican-controlled chamber over the rules of Trump’s impeachment trial.

Pelosi, D-Calif., faces mounting pressure not only from Republicans, but increasingly from fellow Democrats, to deliver the articles, which would then permit the Senate to begin preparations for a trial.

“I’m not withholding them indefinitely,” Pelosi said.

Pelosi’s decision to delay sending the articles is part of a strategy aimed at forcing concessions out of Senate Majority Leader Mitch McConnell, R-Ky., chief among them, the ability to call witnesses.

McConnell has so far said the question of witnesses should be shelved until partway into the trial itself, as was the case in the 1998 impeachment of former President Bill Clinton.

“We want to see what they’re willing to do, and the manner in which they will do it,” Pelosi said Thursday. “But we will not let them say, ‘This is just like Clinton, fair is fair.’ It is not.”

The House voted on Dec. 18 to impeach Trump on two articles stemming from his monthslong campaign to pressure Ukraine into launching investigations into Joe Biden and other domestic political opponents. The pressure tactics allegedly included withholding congressionally approved military aid to Ukraine in its fight against Russia. Trump was impeached on charges that he abused the power of the presidency and obstructed Congress by prohibiting top administration officials from testifying about the Ukraine scheme.

Following the articles’ passage, Pelosi said she planned to hold them until McConnell assured her he would conduct what Democrats called “a fair process.”

Democrats have insisted that any trial of the president include testimony from witnesses, something in which Republicans have so far shown no interest.

But the effort has so far failed to produce results, and the Senate leader said this week he would move forward on Trump’s impeachment trial without any Democratic support.

It’s considered highly unlikely that two-thirds of the GOP-controlled Senate will vote to convict and remove Trump from office. No Senate Republicans have said they support impeaching Trump.


Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: christina wilkie kevin breuninger, christina wilkie, kevin breuninger
Keywords: news, cnbc, companies, republicans, trump, stands, ill, impeachment, articles, pressure, president, send, senate, firm, ukraine, trial, ready, pelosi


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Telemedicine could change the way you visit your doctor. Are we ready?

Telemedicine, which allows your doctor to visit, diagnose and treat you virtually — all in the comfort of your own home — is growing rapidly. In addition to being “seen” by your doctor, telemedicine allows you and your physician to exchange health data and other information. Power study says telemedicine is reducing emergency room visits, noting that just a 1% decrease in emergency room visits, replaced by telemedicine, can result in average savings of $102 million per year. Power study, which i


Telemedicine, which allows your doctor to visit, diagnose and treat you virtually — all in the comfort of your own home — is growing rapidly.
In addition to being “seen” by your doctor, telemedicine allows you and your physician to exchange health data and other information.
Power study says telemedicine is reducing emergency room visits, noting that just a 1% decrease in emergency room visits, replaced by telemedicine, can result in average savings of $102 million per year.
Power study, which i
Telemedicine could change the way you visit your doctor. Are we ready? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: scott cohn, john fedele, getty images
Keywords: news, cnbc, companies, williams, power, change, visit, care, way, investors, technology, ready, medical, doctor, telemedicine, patients, study


Telemedicine could change the way you visit your doctor. Are we ready?

Think of it as the 21st century version of the doctor’s house call. Telemedicine, which allows your doctor to visit, diagnose and treat you virtually — all in the comfort of your own home — is growing rapidly.

Usage is up 53% from 2016 to 2017, according to a J.D. Power study issued in July.

“It’s really taking health care back to the patients and the customers of health care, which is very exciting,” Dr. Andrew Watson, vice president of Clinical Information Technology Transformation at the University of Pittsburgh Medical Center, said in an interview with CNBC’s “American Greed.”

Doctors and patients like the flexibility and time savings the online technology affords, particularly in rural areas where access to care can be difficult. In addition to being “seen” by your doctor, telemedicine allows you and your physician to exchange health data and other information.

Policymakers and insurance companies like the cost savings. The J.D. Power study says telemedicine is reducing emergency room visits, noting that just a 1% decrease in emergency room visits, replaced by telemedicine, can result in average savings of $102 million per year.

No wonder telemedicine is one of the few areas of health care with bipartisan agreement in Washington. A two-year budget deal approved in 2018 eased restrictions on Medicare reimbursement for telemedicine services, and a bill to combat the opioid epidemic, signed into law that year, included new funding for opioid-specific telemedicine services. In October, President Donald Trump signed an executive order further expanding the use of telemedicine under Medicare.

But the widespread appeal and growing acceptance of telemedicine has also attracted fraudsters seeking to use enthusiasm about the technology to their advantage.

Keisha Williams of Ashburn, Virginia, admitted running a $5 million scam in which she told prospective investors she had won the rights in a bankruptcy auction to telemedicine software created by an Austrian company, Zydacron. She said she needed the investors’ money to complete the purchase of the software, and she promised to pay them back with interest as high as 300%.

Excited by the prospects for telemedicine, some 50 investors ponied up tens of thousands of dollars apiece. But rather than using the money to purchase the software, Williams spent nearly all of it on herself, according to prosecutors, paying for expensive trips and luxury goods.

“Keisha Williams displayed absolutely no empathy whatsoever for her victims and the positions she had put them in. It was a lack of conscience that was verging on sociopathic,” Assistant U.S. Attorney Grace Hill told “American Greed.”

Williams, 44, pleaded guilty in 2018 to multiple felonies including fraud, money laundering and conspiracy. She is serving a 15½-year sentence at a minimum-security federal prison in West Virginia.

Watson, who is also a past president of the American Telemedicine Association, believes the technology and the prevalence of telemedicine are advancing to the point where scams like Williams’ are becoming far more difficult to pull off. He likens it to other medical technologies like transplantation and minimally invasive surgery.

“It’s all just the culture of a learning environment, and we’re getting used to a new way of doing medicine,” he said.

Despite that enthusiasm in the medical community, telemedicine is still reaching only a small percentage of the public.

The J.D. Power study, which included a June survey of 1,000 people, found that fewer than 10% had used telemedicine services in lieu of an office or emergency room visit. Usage was highest in the West — 11.1% — and lowest in the Northeast, 5.7%.

The study cited low awareness about the technology as the main obstacle to telemedicine’s growth. But patient skepticism is also an issue.

“It’s hard enough to get a doctor to listen to you when you’re sitting in front of them,” one survey respondent said. “I’m sure they would be even more distracted online.”

“It could be more prone to error without seeing a patient in person,” said another.

Others worried about whether the technology is secure.

“Massive privacy issues, I am unclear as to proof of providers’ qualifications,” a respondent said.

But Watson, a colorectal surgeon, believes those concerns will evaporate as patients and doctors become more accustomed to virtual visits.

“I’ve done over 500 consults — that’s when I see the patients and talk to them remotely,” he said. “I feel very comfortable taking care of them, seeing them, examining them and treating them. It’s very effective, and we’re seeing this in the literature as well, which is exciting.”

The J.D. Power study likens the development of telemedicine to public acceptance of mobile banking.

“Think about it,” the study says. “Ten years ago, would you have ever imagined taking a picture of a personal check for mobile deposit?”

But the study says the industry still has plenty of work to do to build public confidence in the technology.

“A ‘build it and they will come’ approach will not be optimal,” the researchers said.

Scams like Williams’ probably do not help.

See how Keisha Williams misused the promise of a burgeoning medical technology to extract $5 million from investors and fund her outrageously lavish lifestyle. Watch an ALL NEW episode of “American Greed,” Monday, Jan. 13 at 10 p.m. ET/PT, only on CNBC.


Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: scott cohn, john fedele, getty images
Keywords: news, cnbc, companies, williams, power, change, visit, care, way, investors, technology, ready, medical, doctor, telemedicine, patients, study


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Samsung is getting ready to show lifelike ‘artificial human’ project

Samsung is expected to unveil its futuristic “artificial human” project at the Consumer Electronics Show on Monday. Social media accounts for Samsung’s Neon have teased the mysterious technology ahead of a keynote by Samsung consumer electronics division CEO Hyun-Suk Kim. The leaked videos have since been deleted, but offered a glimpse into the lifelike avatars Neon may be creating. “While films may disrupt our sense of reality, ‘virtual humans’ or ‘digital humans’ will be reality,” Mistry said.


Samsung is expected to unveil its futuristic “artificial human” project at the Consumer Electronics Show on Monday.
Social media accounts for Samsung’s Neon have teased the mysterious technology ahead of a keynote by Samsung consumer electronics division CEO Hyun-Suk Kim.
The leaked videos have since been deleted, but offered a glimpse into the lifelike avatars Neon may be creating.
“While films may disrupt our sense of reality, ‘virtual humans’ or ‘digital humans’ will be reality,” Mistry said.
Samsung is getting ready to show lifelike ‘artificial human’ project Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-05  Authors: lauren feiner
Keywords: news, cnbc, companies, artificial, mistry, project, virtual, ready, videos, lifelike, human, samsungs, neon, technology, humans, samsung, getting


Samsung is getting ready to show lifelike 'artificial human' project

Samsung is expected to unveil its futuristic “artificial human” project at the Consumer Electronics Show on Monday.

Social media accounts for Samsung’s Neon have teased the mysterious technology ahead of a keynote by Samsung consumer electronics division CEO Hyun-Suk Kim. Over the weekend, a Reddit user claimed to have found unlisted videos of the project in the website’s source code, and on Sunday, Neon project lead Pranav Mistry further stoked speculation when he tweeted that he was prepared to demo Samsung’s Core R3 technology at CES.

The leaked videos have since been deleted, but offered a glimpse into the lifelike avatars Neon may be creating. The promo videos showed a group of people who appear to be human, though it’s unclear to what extent they might be computer-generated.

Mistry tweeted Sunday that the Core R3 technology “can now autonomously create new expressions, new movements, new dialog (even in Hindi), completely different from the original captured data.” He included a side-by-side photo of a woman, overlaid with code and other graphics.

In a recent interview with an Indian business news publication, Mistry shared his vision of how “artificial humans” could fit into the world.

“While films may disrupt our sense of reality, ‘virtual humans’ or ‘digital humans’ will be reality,” Mistry said. “A digital human could extend its role to become a part of our everyday lives: a virtual news anchor, virtual receptionist, or even an AI-generated film star.”

While it’s still unclear what exactly Neon will be, the company made clear what it is not. In a tweet last month, Neon wrote that it is not to be conflated with Bixby, Samsung’s virtual assistant.

“NEON is NOT about Bixby, or anything you have seen before,” the account posted.

Samsung did not immediately respond to a request for comment.

Subscribe to CNBC on YouTube.

WATCH: The new Samsung Galaxy Note 10 lineup — thin, light and powerful


Company: cnbc, Activity: cnbc, Date: 2020-01-05  Authors: lauren feiner
Keywords: news, cnbc, companies, artificial, mistry, project, virtual, ready, videos, lifelike, human, samsungs, neon, technology, humans, samsung, getting


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Trump says US does not seek war or regime change in Iran, but is still ready to act if ‘necessary’

President Donald Trump said Friday that America does not seek “regime change” in Iran, less than a day after the U.S. launched an airstrike that killed the country’s top general, Qasem Soleimani. But the U.S. is “ready and prepared to take whatever action is necessary” if Iran threatens American lives, Trump added. O’Brien, who was with Trump during the strike, said the U.S. had credible intelligence that Iran was mounting an attack. His death exacerbated already-high tensions between Iran and t


President Donald Trump said Friday that America does not seek “regime change” in Iran, less than a day after the U.S. launched an airstrike that killed the country’s top general, Qasem Soleimani.
But the U.S. is “ready and prepared to take whatever action is necessary” if Iran threatens American lives, Trump added.
O’Brien, who was with Trump during the strike, said the U.S. had credible intelligence that Iran was mounting an attack.
His death exacerbated already-high tensions between Iran and t
Trump says US does not seek war or regime change in Iran, but is still ready to act if ‘necessary’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-03  Authors: amanda macias kevin breuninger, amanda macias, kevin breuninger
Keywords: news, cnbc, companies, does, middle, told, act, ready, death, reporters, killed, strike, change, war, trump, regime, iran, action, protect, necessary, seek


Trump says US does not seek war or regime change in Iran, but is still ready to act if 'necessary'

President Donald Trump said Friday that America does not seek “regime change” in Iran, less than a day after the U.S. launched an airstrike that killed the country’s top general, Qasem Soleimani.

But the U.S. is “ready and prepared to take whatever action is necessary” if Iran threatens American lives, Trump added.

“We took action last night to stop a war,” the president said in his first television address since Soleimani’s death was announced Thursday night. “We did not take action to start a war.”

Soleimani “made the death of innocent people his sick passion,” Trump said from his Palm Beach, Florida, resort, Mar-a-Lago. “We caught him in the act and terminated him.”

He took no questions from reporters.

On a call with reporters Friday, National Security Advisor Robert O’Brien described the U.S. strike as a “straightforward decision.”

O’Brien, who was with Trump during the strike, said the U.S. had credible intelligence that Iran was mounting an attack. He did not specify what kind of intelligence the U.S. had.

Soleimani, who led a special forces unit of Iran’s elite Revolutionary Guards, has been a key figure in Iranian and Middle East politics. He and an aide were killed in a U.S. airstrike at Baghdad’s international airport.

His death exacerbated already-high tensions between Iran and the U.S., and triggered concerns of retaliation from Iran and proxy forces.

On the heels of Thursday’s attack, the Department of Defense issued a statement saying that the strike was aimed at “deterring future Iranian attack plans” and that the U.S. military would continue to “take all necessary action to protect our people and our interests wherever they are around the world.”

A senior State Department official, who was authorized to speak on condition of anonymity, told reporters Friday that Soleimani had planned attacks that targeted U.S. diplomats and military personnel in Iraq, Syria, Lebanon and other parts of the Middle East.

The latest revelations come days after Iran-backed militias attacked the U.S. Embassy in Baghdad. The two-day embassy assault prompted Trump to order the initial deployment of approximately 750 soldiers from the U.S. Army’s 82nd Airborne Division to the Middle East.

On Thursday, before the U.S. airstrike that killed Soleimani, Secretary of Defense Mark Esper told reporters at the Pentagon that the U.S. may conduct preemptive strikes against Iranian-backed militias.

“If we get word of attacks, we will take preemptive action as well to protect American forces, protect American lives. The game has changed,” Esper said.

In the wake of the U.S. drone strike, Trump approved another deployment Friday of approximately 3,500 troops to the region.

After Trump’s unannounced speech, he departed Mar-a-Lago en route to Miami, where he was scheduled to attend the launch of his 2020 presidential campaign’s “Evangelicals for Trump” coalition.

More than three dozen influential evangelical leaders are expected to attend, a Trump campaign source told CNBC.

— CNBC’s Yelena Dzhanova contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-03  Authors: amanda macias kevin breuninger, amanda macias, kevin breuninger
Keywords: news, cnbc, companies, does, middle, told, act, ready, death, reporters, killed, strike, change, war, trump, regime, iran, action, protect, necessary, seek


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Russia claims its new hypersonic weapon is ready for war

WASHINGTON — Russia’s defense minister on Friday declared a new hypersonic weapon, which is said to be capable of striking the United States, ready for war. Russian Defense Minister Sergei Shoigu said in a conference call with Russian military leaders that the first missile unit equipped with the Avangard hypersonic glide vehicle entered combat duty. Avangard can travel at least five times the speed of sound, or about one mile per second. It was one of the six new weapons that Russian President


WASHINGTON — Russia’s defense minister on Friday declared a new hypersonic weapon, which is said to be capable of striking the United States, ready for war.
Russian Defense Minister Sergei Shoigu said in a conference call with Russian military leaders that the first missile unit equipped with the Avangard hypersonic glide vehicle entered combat duty.
Avangard can travel at least five times the speed of sound, or about one mile per second.
It was one of the six new weapons that Russian President
Russia claims its new hypersonic weapon is ready for war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-27  Authors: amanda macias
Keywords: news, cnbc, companies, war, russian, ready, claims, hypersonic, sergei, speed, unit, vladimir, sound, weapon, times, minister, russia


Russia claims its new hypersonic weapon is ready for war

Russian President Vladimir Putin smiles during a joint press conference with Italian Prime Minister Paolo Gentiloni following their meeting at the Bocharov Ruchei state residence in Sochi, Russia, May 17, 2017.

WASHINGTON — Russia’s defense minister on Friday declared a new hypersonic weapon, which is said to be capable of striking the United States, ready for war.

Russian Defense Minister Sergei Shoigu said in a conference call with Russian military leaders that the first missile unit equipped with the Avangard hypersonic glide vehicle entered combat duty.

Russia’s Strategic Missile Forces chief, Gen. Sergei Karakayev, added that Avangard was put on duty with a unit in the Orenburg region in the southern Ural Mountains.

Avangard can travel at least five times the speed of sound, or about one mile per second.

It was one of the six new weapons that Russian President Vladimir Putin unveiled in March 2018. At the time, the Russian leader claimed the hypersonic weapon was capable of reaching targets at 20 times the speed of sound and that it could strike “like a fireball.” He also said that the device had already entered serial production.


Company: cnbc, Activity: cnbc, Date: 2019-12-27  Authors: amanda macias
Keywords: news, cnbc, companies, war, russian, ready, claims, hypersonic, sergei, speed, unit, vladimir, sound, weapon, times, minister, russia


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‘We are ready’ to take Trump tariff threats to WTO: French finance minister

France is ready to go to the World Trade Organization to challenge U.S. President Donald Trump’s threat to put tariffs on champagne and other French goods in a row over a French tax on internet companies, its finance minister said on Sunday. “We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches U.S. companies in the same way as EU or French companies or Chinese. It is not discriminatory,” Finance Minister Bruno Le Maire told


France is ready to go to the World Trade Organization to challenge U.S. President Donald Trump’s threat to put tariffs on champagne and other French goods in a row over a French tax on internet companies, its finance minister said on Sunday.
“We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches U.S. companies in the same way as EU or French companies or Chinese.
It is not discriminatory,” Finance Minister Bruno Le Maire told
‘We are ready’ to take Trump tariff threats to WTO: French finance minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-08
Keywords: news, cnbc, companies, wto, maire, trump, threats, france, tax, french, finance, tariff, companies, million, ready, oecd, digital, minister


'We are ready' to take Trump tariff threats to WTO: French finance minister

France is ready to go to the World Trade Organization to challenge U.S. President Donald Trump’s threat to put tariffs on champagne and other French goods in a row over a French tax on internet companies, its finance minister said on Sunday.

“We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches U.S. companies in the same way as EU or French companies or Chinese. It is not discriminatory,” Finance Minister Bruno Le Maire told France 3 television.

Paris has long complained about U.S. digital companies not paying enough tax on revenues earned in France.

In July, the French government decided to apply a 3% levy on revenue from digital services earned in France by firms with more than 25 million euros in French revenue and 750 million euros ($845 million) worldwide.

It is due to kick in retroactively from the start of 2019.

Washington is threatening to retaliate with heavy duties on imports of French champagne, cheeses and luxury handbags, but France and the European Union say they are ready to retaliate in turn if Trump carries out the threat.

Le Maire said France was willing to discuss a global digital tax with the United States at the Organisation for Economic Cooperation and Development (OECD), but that such a tax could not be optional for internet companies.

“If there is agreement at the OECD, all the better, then we will finally have a global digital tax. If there is no agreement at OECD level, we will restart talks at EU level,” Le Maire said.

He added that new EU Commissioner for Economy Paolo Gentiloni had already proposed to restart such talks.

France pushed ahead with its digital tax after EU member states, under the previous executive European Commission, failed to agree on a levy valid across the bloc after opposition from Ireland, Denmark, Sweden and Finland.

The new European Commission assumed office on Dec. 1.


Company: cnbc, Activity: cnbc, Date: 2019-12-08
Keywords: news, cnbc, companies, wto, maire, trump, threats, france, tax, french, finance, tariff, companies, million, ready, oecd, digital, minister


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Cramer, outspoken about Tesla, ready to buy his wife a Model X

CNBC’s Jim Cramer, often a critic of Tesla stock, said Tuesday he’s in the market for a Tesla Model X sport utility vehicle because his wife, Lisa, really wants one. “She wants an X. Over the years, Cramer has been outspoken about Tesla CEO Elon Musk’s missteps, calling Musk a modern day “P.T. Cramer tries to avoid bashing or recommending the stock because of the blowback from Tesla adherents and Tesla haters on Twitter. On Monday morning, Cramer first talked about riding in a Tesla, and said wi


CNBC’s Jim Cramer, often a critic of Tesla stock, said Tuesday he’s in the market for a Tesla Model X sport utility vehicle because his wife, Lisa, really wants one.
“She wants an X.
Over the years, Cramer has been outspoken about Tesla CEO Elon Musk’s missteps, calling Musk a modern day “P.T.
Cramer tries to avoid bashing or recommending the stock because of the blowback from Tesla adherents and Tesla haters on Twitter.
On Monday morning, Cramer first talked about riding in a Tesla, and said wi
Cramer, outspoken about Tesla, ready to buy his wife a Model X Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-26  Authors: matthew j belvedere, kevin stankiewicz
Keywords: news, cnbc, companies, defend, dont, model, wants, stock, wife, musk, twitter, buy, ready, outspoken, cramer, tesla


Cramer, outspoken about Tesla, ready to buy his wife a Model X

CNBC’s Jim Cramer, often a critic of Tesla stock, said Tuesday he’s in the market for a Tesla Model X sport utility vehicle because his wife, Lisa, really wants one.

“I give up. The car is too damn great,” Cramer said on “Squawk Box.” “She wants an X. You can’t stop her. She loves cars.”

“We were with some people who had two different ones this weekend,” the “Mad Money” host added. “I have to admit it’s just an unbelievable experience.”

Over the years, Cramer has been outspoken about Tesla CEO Elon Musk’s missteps, calling Musk a modern day “P.T. Barnum” and criticizing Musk after his ill-fated “funding secured” take-private tweet in August 2018.

Cramer tries to avoid bashing or recommending the stock because of the blowback from Tesla adherents and Tesla haters on Twitter. Both sides of the Tesla trade inspire visceral reactions, with bulls willing to shell out nearly 60 times forward 12-month earnings for the stock and bears betting against it as one of the most heavily shorted on Wall Street.

On Monday morning, Cramer first talked about riding in a Tesla, and said with a smile, “I’m a bull on Tesla. I have decided my life on Twitter is easier.”

“I don’t want to defend them. OK. I don’t want to defend against them,” he added, throwing his hands in the air. “I’m defeated on Twitter.”


Company: cnbc, Activity: cnbc, Date: 2019-11-26  Authors: matthew j belvedere, kevin stankiewicz
Keywords: news, cnbc, companies, defend, dont, model, wants, stock, wife, musk, twitter, buy, ready, outspoken, cramer, tesla


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FAA says it again: Boeing’s 737 Max is not ready for certification

The FAA issued a new statement, saying, “The FAA has not completed its review of the 737 Max aircraft design changes and associated pilot training. With just 35 days left in 2019, the FAA is making it increasingly clear it is unlikely to recertify the Boeing 737 Max this year, a target Boeing has been eyeing for months. Four days after Boeing’s statement, Dickson released an internal letter he sent to the FAA’s associate administrator who oversees the Max certification process. For the 737 Max t


The FAA issued a new statement, saying, “The FAA has not completed its review of the 737 Max aircraft design changes and associated pilot training.
With just 35 days left in 2019, the FAA is making it increasingly clear it is unlikely to recertify the Boeing 737 Max this year, a target Boeing has been eyeing for months.
Four days after Boeing’s statement, Dickson released an internal letter he sent to the FAA’s associate administrator who oversees the Max certification process.
For the 737 Max t
FAA says it again: Boeing’s 737 Max is not ready for certification Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-26  Authors: phil lebeau
Keywords: news, cnbc, companies, completed, faa, ready, max, certification, 737, dickson, report, process, boeings, statement, boeing


FAA says it again: Boeing's 737 Max is not ready for certification

For the third time in two weeks, the FAA said publicly it will take all the time it needs to deem the Max safe. The FAA issued a new statement, saying, “The FAA has not completed its review of the 737 Max aircraft design changes and associated pilot training. The agency will not approve the aircraft for return to service until it has completed numerous rounds of rigorous testing.”

With just 35 days left in 2019, the FAA is making it increasingly clear it is unlikely to recertify the Boeing 737 Max this year, a target Boeing has been eyeing for months.

CNBC has asked Boeing if it sticks by its guidance of the 737 Max potentially returning to commercial service by the end of January. The company says it has not changed its outlook.

This is the latest move by the FAA to publicly push back on Boeing’s belief that Max deliveries could resume soon. In its most recent 737 Max progress report issued on Nov. 11, Boeing said it is “possible that the resumption of Max deliveries to airline customers could begin in December, after certification, when the FAA issues an Airworthiness Directive rescinding the grounding order.”

Boeing’s suggestion the Max is close to returning did not sit well with the FAA and Administrator Steve Dickson. Four days after Boeing’s statement, Dickson released an internal letter he sent to the FAA’s associate administrator who oversees the Max certification process. “The FAA fully controls the approval process,” Dickson wrote.

The message could not be missed: The FAA will not rush the certification of the Max simply because Boeing believes the process should be completed by a certain date. To drive that point home, Dickson posted a video message to FAA employees the following day saying, “I’ll support the time that you need to conduct a thorough, deliberate process for a safe return to service.”

For the 737 Max to be recertified to fly this year it will have to clear several hurdles in a short time. For starters, the FAA must conduct Human Factors Testing to evaluate the revamped MCAS flight control software.

That testing, which takes up to three to four days is expected to start next week, according to one person familiar with the Max timeline. By mid-December, the Max may finally make its certification flight. When it’s over, it could take a week or two to analyze the data and complete a final report on that flight.

In addition, the Joint Operational Evaluation Board simulator trials with line pilots evaluating the updated training for the Max still needs to take place. Finally, the FAA’s Flight Standardization Board needs to file its report on MCAS, which then will start a public comment period of one to two weeks.

Only after all of those steps are completed will the FAA lift the grounding of the Max with an Airworthiness Certificate. In its latest statement, the FAA said, “Issuance of the Airworthiness Certificate is the final FAA action affirming that each newly manufactured 737 Max is airworthy.”


Company: cnbc, Activity: cnbc, Date: 2019-11-26  Authors: phil lebeau
Keywords: news, cnbc, companies, completed, faa, ready, max, certification, 737, dickson, report, process, boeings, statement, boeing


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Los Angeles Rams star Aaron Donald takes an ownership stake in Ready Nutrition sports drink company

Aaron Donald #99 of the Los Angeles Rams walks off the field following the Rams’ 17-12 loss to the Pittsburgh Steelers at Heinz Field on November 10, 2019 in Pittsburgh, Pennsylvania. Los Angeles Rams star Aaron Donald is expanding his playbook off the field, taking an ownership stake in Ready Nutrition — a Pennsylvania-based startup that makes protein-infused sports drinks, protein powder and snacks. According to Ready Nutrition, products are available in over 8,000 outlets across the country,


Aaron Donald #99 of the Los Angeles Rams walks off the field following the Rams’ 17-12 loss to the Pittsburgh Steelers at Heinz Field on November 10, 2019 in Pittsburgh, Pennsylvania.
Los Angeles Rams star Aaron Donald is expanding his playbook off the field, taking an ownership stake in Ready Nutrition — a Pennsylvania-based startup that makes protein-infused sports drinks, protein powder and snacks.
According to Ready Nutrition, products are available in over 8,000 outlets across the country,
Los Angeles Rams star Aaron Donald takes an ownership stake in Ready Nutrition sports drink company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: jabari young
Keywords: news, cnbc, companies, wants, rams, takes, stake, los, ready, nutrition, million, donald, ownership, pittsburgh, drink, sales, cavanaugh, star


Los Angeles Rams star Aaron Donald takes an ownership stake in Ready Nutrition sports drink company

Aaron Donald #99 of the Los Angeles Rams walks off the field following the Rams’ 17-12 loss to the Pittsburgh Steelers at Heinz Field on November 10, 2019 in Pittsburgh, Pennsylvania.

Los Angeles Rams star Aaron Donald is expanding his playbook off the field, taking an ownership stake in Ready Nutrition — a Pennsylvania-based startup that makes protein-infused sports drinks, protein powder and snacks.

Donald, 28, met founder and President Pat Cavanaugh through the defensive tackle’s Pittsburgh-based foundation AD99 Solutions. Both men also attended the University of Pittsburgh where Donald was an All-American athlete and Cavanaugh played football and basketball more than two decades earlier.

“I’ve looked at hundreds of brand partnerships over the past couple years and have found very few that match my standards and interests in making a difference in a global community,” Donald said in a statement. “The fact that Pat, also a Pitt guy, shares the same mindset about hard work and helping others, and runs the business with that mindset every day, made Ready the perfect fit for me.”

Ready Nutrition, which was founded in 2012 and is based outside of Iron City, is poised to eclipse $100 million in total sales next year and is generating double-digit annual sales growth, Cavanaugh said.

“Our sales are, what we feel, are significant and are growing as we get larger, they are accelerating more. A lot of companies, when they get bigger, that growth percentage slows down, we’re accelerating,” Cavanaugh said, declining to provide specific details.

Terms of the investment weren’t disclosed, but is Donald is taking a small stake in the company as a growth investor that will rise over time along with the value of the company, according to someone familiar with the deal.

The company produces all-natural, organic sports nutrition products, including protein bars, powders, and most notably, its protein water. According to Ready Nutrition, products are available in over 8,000 outlets across the country, including Sam’s Club, online via Amazon and at athletic teams at more than 200 universities. Ready Nutrition is also the “official sports nutrition brand” of four NCAA division 1 conferences: Atlantic 10, Big Sky, Conference USA, and Southland Conference.

The fitness drink industry has attracted other top athletes as investors. Retired Los Angeles Lakers star player Kobe Bryant reportedly invested $6 million to take a 10% stake in Bodyarmor in 2014 that was reportedly worth more than $200 million last year, according to ESPN.

Ready Nutrition is trying to attract even younger athletes, “which we define as high school and down,” Cavanaugh said.

Cavanaugh said the plan is to connect to the company’s core message through Donald’s personal story that “he’s heard his whole life up until he made it to the league, which was too small, too slow, not being quick enough … We want to use him and say, ‘OK, I don’t care if you’re an All-American or what your level is right now, you can control how you’re going to move forward, and you can do it this way.'”

Donald, who will earn roughly $9.1 million for the 2019 season, signed a six-year, $135 million extension with the Rams in 2018. He’s currently third on the team with 5.5 sacks this season, and spent his bye week in the Pittsburgh area to work on Ready Nutrition’s marketing plan.

“You don’t see too many guys doing that,” Cavanaugh said of Donald. “He wants to be involved with the brand beyond using the product, which he has been. He wants to get into the weeds. He’s a guy that likes to understand the business and at the end of the day. He wants to help the product. He wants to talk to the kids,” Cavanaugh said.


Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: jabari young
Keywords: news, cnbc, companies, wants, rams, takes, stake, los, ready, nutrition, million, donald, ownership, pittsburgh, drink, sales, cavanaugh, star


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