European stocks fall as oil slumps; UK, EU agree on Brexit divorce draft

The rout will likely put pressure on oil firms’ share price during the trading session Wednesday. Deputy Prime Minister Matteo Salvini warned the EU against issuing fines against Italy over its budgetary plans. Brexit will likely be another area of focus for investors Wednesday after news of a key breakthrough between Britain and the EU on a divorce deal. Negotiators on neither side have reportedly agreed to a draft deal late Tuesday; British Prime Minister Theresa May will meet with her cabinet


The rout will likely put pressure on oil firms’ share price during the trading session Wednesday. Deputy Prime Minister Matteo Salvini warned the EU against issuing fines against Italy over its budgetary plans. Brexit will likely be another area of focus for investors Wednesday after news of a key breakthrough between Britain and the EU on a divorce deal. Negotiators on neither side have reportedly agreed to a draft deal late Tuesday; British Prime Minister Theresa May will meet with her cabinet
European stocks fall as oil slumps; UK, EU agree on Brexit divorce draft Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: ryan browne
Keywords: news, cnbc, companies, slumps, trading, product, uk, objections, session, prime, minister, shipping, brexit, stocks, draft, crude, eu, fall, oil, divorce, european, list


European stocks fall as oil slumps; UK, EU agree on Brexit divorce draft

In terms of sectors, real estate was at the top of the list, up 0.10 percent, while technology continued to make losses, finding itself at the bottom of the list, down 1.5 percent.

Traders will be keeping a close eye on moves in oil prices on Wednesday after crude plunged as much as 7 percent in the previous session on the back of fears around oversupply and weakening global demand.

As of 1 a.m. ET, Brent crude was seen trading half a percent lower to $65.15 a barrel while U.S. West Texas Intermediate crude fell 0.74 percent to $55.28. The rout will likely put pressure on oil firms’ share price during the trading session Wednesday.

The oil and gas sector and miners were down 1.9 percent and 2.1 percent respectively.

On the earnings front, Danish shipping group A.P. Moller-Maersk beat third-quarter operating profit forecasts on Wednesday, but said a trade war between the United States and China had hit demand for container shipping. Shares in the company were up nearly 1 percent.

The Italian government on Wednesday stuck to its contested 2019 deficit target of 2.4 percent of gross domestic product (GDP), defying the European Union’s call for Rome to revise fiscal targets. Deputy Prime Minister Matteo Salvini warned the EU against issuing fines against Italy over its budgetary plans.

Brexit will likely be another area of focus for investors Wednesday after news of a key breakthrough between Britain and the EU on a divorce deal. Negotiators on neither side have reportedly agreed to a draft deal late Tuesday; British Prime Minister Theresa May will meet with her cabinet on Wednesday to get her ministers on side.

In corporate news, the European Commission sent a statement of objections to Siemens and Alstom over their proposed rail merger on Tuesday. The two firms confirmed the news to CNBC and said they would respond to the objections from EU’s executive body. Alstom is set to report its first-half results on Wednesday.

Meanwhile, in data, key German gross domestic product (GDP) growth figures will be released Wednesday, amid fears of a slowdown in the country’s economy.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: ryan browne
Keywords: news, cnbc, companies, slumps, trading, product, uk, objections, session, prime, minister, shipping, brexit, stocks, draft, crude, eu, fall, oil, divorce, european, list


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Italy’s populist government defies the EU, sticking to its 2019 budget targets

Italy’s populist government said it would stick with its high-spending budget plan, in a rejection of calls by the European Union to revise its fiscal targets. Matteo Salvini, Italy’s deputy prime minister, said overnight that the government would stick to its budget targets for 2019, but would up asset sales and keep spending in check. Tuesday was the official deadline for the Italian government to submit a revised draft budget to the EU’s executive body, the European Commission. The Commission


Italy’s populist government said it would stick with its high-spending budget plan, in a rejection of calls by the European Union to revise its fiscal targets. Matteo Salvini, Italy’s deputy prime minister, said overnight that the government would stick to its budget targets for 2019, but would up asset sales and keep spending in check. Tuesday was the official deadline for the Italian government to submit a revised draft budget to the EU’s executive body, the European Commission. The Commission
Italy’s populist government defies the EU, sticking to its 2019 budget targets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: ryan browne, alberto pizzoli, afp, getty images
Keywords: news, cnbc, companies, targets, italian, 2019, populist, wrong, budget, italys, defies, deficit, draft, eu, european, sticking


Italy's populist government defies the EU, sticking to its 2019 budget targets

Italy’s populist government said it would stick with its high-spending budget plan, in a rejection of calls by the European Union to revise its fiscal targets.

Rome clung onto its contested budget deficit figure of 2.4 percent of gross domestic product (GDP), a move which is likely to send tremors into domestic and European capital markets Wednesday.

The 2.4 percent proposed deficit dwarfs the previous Italian administration’s deficit goal of 0.8 percent of GDP.

Italy also kept its growth assumptions for 2019, 2020 and 2021 unchanged, despite both the EU and the International Monetary Fund (IMF) claiming those assumptions are too high.

Matteo Salvini, Italy’s deputy prime minister, said overnight that the government would stick to its budget targets for 2019, but would up asset sales and keep spending in check.

Tuesday was the official deadline for the Italian government to submit a revised draft budget to the EU’s executive body, the European Commission.

The Commission made the unprecedented move last month to reject Italy’s draft budget proposal, stating the country’s spending targets went against European rules.

Salvini reportedly said Wednesday that it would be “wrong” if the EU fined his country for breaching fiscal rules. “They’ve got it wrong if they are even just thinking of imposing fines on the Italian people,” he told Italy’s state-owned radio station RAI, according to Reuters.

Italian stocks were the worst performers in Europe on the back of the government’s rebuff of Europe’s call for a revision to the 2019 budget plans. The FTSE MIB fell more than 1.8 percent on Wednesday morning.

The yield on Italy’s benchmark 10-year bond ticked 9 basis points (bps) higher to a three-week high of 3.54 percent following the news, amid increasing fears of an escalating standoff between Rome and Brussels.

The euro meanwhile came under pressure on the back of the news, shedding gains from earlier in the morning. The single currency had initially jumped after news that a draft divorce agreement had been reached by the U.K. and the EU. It was just a touch below the flatline in early morning trade.

Italy’s government did however say in its resubmitted budgetary plan that it expected public debt to fall to 129.2 percent of GDP in 2019.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: ryan browne, alberto pizzoli, afp, getty images
Keywords: news, cnbc, companies, targets, italian, 2019, populist, wrong, budget, italys, defies, deficit, draft, eu, european, sticking


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US Treasury yields little changed amid report showing inflation coming in as expected

At last week’s Fed meeting, the bank left rates unchanged as expected, but said it sees “further gradual increases” ahead, sticking to its guns on policy. President Donald Trump has criticized the Fed for raising rates, going as far as to call the institution “crazy” for doing so. ET, Federal Reserve Chairman Jerome Powell and Dallas Federal Reserve Bank President Robert Kaplan will be speaking on global economic issues in Texas. Meanwhile, in international debt markets, Italian bond yields jump


At last week’s Fed meeting, the bank left rates unchanged as expected, but said it sees “further gradual increases” ahead, sticking to its guns on policy. President Donald Trump has criticized the Fed for raising rates, going as far as to call the institution “crazy” for doing so. ET, Federal Reserve Chairman Jerome Powell and Dallas Federal Reserve Bank President Robert Kaplan will be speaking on global economic issues in Texas. Meanwhile, in international debt markets, Italian bond yields jump
US Treasury yields little changed amid report showing inflation coming in as expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: ryan browne, drew angerer, getty images
Keywords: news, cnbc, companies, economic, little, powell, amid, federal, expected, coming, changed, treasury, president, fed, showing, bank, speaking, report, robert, rates, yields, inflation, reserve


US Treasury yields little changed amid report showing inflation coming in as expected

At last week’s Fed meeting, the bank left rates unchanged as expected, but said it sees “further gradual increases” ahead, sticking to its guns on policy. President Donald Trump has criticized the Fed for raising rates, going as far as to call the institution “crazy” for doing so.

Traders will likely monitor upcoming inflation data on Wednesday. Consumer Price Index (CPI) and core CPI inflation figures are due today at 8:30 a.m. ET.

Two big Fed speeches are expected on Tuesday. At 6 p.m. ET, Federal Reserve Chairman Jerome Powell and Dallas Federal Reserve Bank President Robert Kaplan will be speaking on global economic issues in Texas.

Meanwhile, in international debt markets, Italian bond yields jumped after the government resubmitted its draft budget to the European Commission. Rome stuck to its 2019 deficit target of 2.4 percent of annual economic output, a move which is likely to set the stage for a standoff with Brussels. The news send Italy’s 10-year bond yield to a three-week high.

Correction: This story has been updated to reflect that Federal Reserve Chairman Jerome Powell and Dallas Federal Reserve Bank President Robert Kaplan will be speaking on global economic issues in Texas at 6 p.m. ET.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: ryan browne, drew angerer, getty images
Keywords: news, cnbc, companies, economic, little, powell, amid, federal, expected, coming, changed, treasury, president, fed, showing, bank, speaking, report, robert, rates, yields, inflation, reserve


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Trade war is ‘negative, negative, negative’ for business, investors and consumers, ITC says

The U.S. trade spat with China and other countries is having a negative impact on business decisions and passing on the cost to investors and consumers as a result, the leader of a top trade organization has said. “So all I know is this is negative, negative, negative: negative for business, negative for investors and negative for consumers. And if there was an issue about fairness in international trade, we haven’t yet solved it.” On Monday, Bloomberg News reported that President Trump plans to


The U.S. trade spat with China and other countries is having a negative impact on business decisions and passing on the cost to investors and consumers as a result, the leader of a top trade organization has said. “So all I know is this is negative, negative, negative: negative for business, negative for investors and negative for consumers. And if there was an issue about fairness in international trade, we haven’t yet solved it.” On Monday, Bloomberg News reported that President Trump plans to
Trade war is ‘negative, negative, negative’ for business, investors and consumers, ITC says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: ryan browne, artyom ivanov, tass, getty images
Keywords: news, cnbc, companies, negative, way, business, china, investors, union, itc, war, decisions, trade, consumers, hear, european


Trade war is 'negative, negative, negative' for business, investors and consumers, ITC says

The U.S. trade spat with China and other countries is having a negative impact on business decisions and passing on the cost to investors and consumers as a result, the leader of a top trade organization has said.

“What I hear businesses say is that this is having an impact on the decisions they make, on the business decisions they make; that they are not making investment decisions because they fear that the turbulence is too high,” Arancha Gonzalez, executive director of the International Trade Center, told CNBC’s Joumanna Bercetche on Tuesday.

“I hear small businesses saying they have to absorb costs that are going to mean a lot for their bottom line simply because there is no way they can pass this onto consumers and then I hear other companies saying we are passing this onto consumers there’s no way we can absorb this,” she added.

“So all I know is this is negative, negative, negative: negative for business, negative for investors and negative for consumers. And if there was an issue about fairness in international trade, we haven’t yet solved it.”

The Trump administration has engaged in a tense war of both words and action with China, Canada, Mexico and the European Union over the past few months, both threatening and imposing trade tariffs on the basis that existing trade arrangements put the U.S. on an unequal footing.

The U.S. managed to secure a deal with Mexico and Canada to replace the North American Free Trade Agreement (NAFTA) following talks that went down to the wire in late September. However, Washington has not yet settled separate battles with Beijing and Brussels.

On Monday, Bloomberg News reported that President Trump plans to meet with his trade team to discuss a draft report on tariffs for European autos. The president has previously said he thinks the European Union is “almost as bad as China, just smaller.”


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: ryan browne, artyom ivanov, tass, getty images
Keywords: news, cnbc, companies, negative, way, business, china, investors, union, itc, war, decisions, trade, consumers, hear, european


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Virgin Hyperloop One seeing ‘big interest’ from Saudi investors, chairman says

Virgin Hyperloop One, one of the best-known players developing the high-speed transportation technology, is attracting “big interest” from Saudi investors, the company’s newly appointed chairman said Monday. “There is a big interest in Hyperloop in Saudi Arabia,” Ahmed bin Sulayem told CNBC’s Dan Murphy in an interview Monday. Sulayem is also group chairman and chief executive of Dubai-headquartered port operator DP World, which is a major investor in Virgin Hyperloop One. “We had good discussio


Virgin Hyperloop One, one of the best-known players developing the high-speed transportation technology, is attracting “big interest” from Saudi investors, the company’s newly appointed chairman said Monday. “There is a big interest in Hyperloop in Saudi Arabia,” Ahmed bin Sulayem told CNBC’s Dan Murphy in an interview Monday. Sulayem is also group chairman and chief executive of Dubai-headquartered port operator DP World, which is a major investor in Virgin Hyperloop One. “We had good discussio
Virgin Hyperloop One seeing ‘big interest’ from Saudi investors, chairman says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: ryan browne, source, hyperloop one
Keywords: news, cnbc, companies, interest, sulayem, seeing, arabia, virgin, big, saudi, transportation, technology, hyperloop, month, investors, company, chairman


Virgin Hyperloop One seeing 'big interest' from Saudi investors, chairman says

Virgin Hyperloop One, one of the best-known players developing the high-speed transportation technology, is attracting “big interest” from Saudi investors, the company’s newly appointed chairman said Monday.

“There is a big interest in Hyperloop in Saudi Arabia,” Ahmed bin Sulayem told CNBC’s Dan Murphy in an interview Monday. “I think when the right time comes, we will restart talking to Saudi Arabia about their plans and how Hyperloop can fit in those plans,” he added.

Sulayem is also group chairman and chief executive of Dubai-headquartered port operator DP World, which is a major investor in Virgin Hyperloop One. He was appointed as Richard Branson’s successor shortly after the British billionaire departed his role as chairman of the firm.

Branson left the position last month, stating the company would need a “more hands-on” chairperson, and that it would be “difficult” for him to continue in the role due to constraints resulting from his work in philanthropy and Virgin Group’s various business units.

The executive’s exit from the company followed uncertainty around whether Virgin Hyperloop One would continue to conduct business with Saudi Arabia, owing to Branson distancing himself from the country after the murder of Saudi journalist Jamal Khashoggi. Branson suspended negotiations over a proposed $1 billion investment in Virgin’s space companies, Virgin Galactic and Virgin Orbit, after Khashoggi’s death.

A Financial Times report last month added to that uncertainty, claiming that Saudi Arabia had cancelled a planned deal to conduct a feasibility study with Virgin Hyperloop One. However, this was later contradicted by a CNBC report that said the firm was still in talks with the Saudis to reach a deal.

For Sulayem’s part, he said that any talks over a Saudi deal with Virgin Hyperloop One would likely come after the completion of a project in India. He said it was better to concentrate on “a project we have in hand” in India, and then look to push expansion into other markets.

“We had good discussions with Saudi Arabia and they had interest in utilizing Hyperloop,” Sulayem said. “This is something we’re going to discuss with them hopefully in the next few months.”

Multiple firms are attempting to dominate the space with their own versions of hyperloop technology. The technology, which involves pods that are propelled through low-pressure tubes at ultra-fast speeds, was first envisioned by Tesla Chief Executive Elon Musk in 2013.

Musk’s SpaceX and The Boring Company are working to implement hyperloop systems in the U.S., while Hyperloop Transportation Technologies and TransPod are also competing to build their own versions of the technology.

Virgin Hyperloop One’s Sulayem said the firm’s technology was “very interesting” and “could transform really the way people travel en masse.”

“The company has I think a good opportunity today because they have completed more than anyone else in this field and hopefully India will be the first one,” he added. The company is also seeking to build its hyperloop transportation system in the United Arab Emirates. It also announced a deal with DP World earlier this year to form a hyperloop that transports cargo at ultra-fast speeds.

While still serving as Virgin Hyperloop One’s chairman, Branson told CNBC last month that rides on the company’s hyperloop would cost “no more than a high-speed trainline ticket.”


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: ryan browne, source, hyperloop one
Keywords: news, cnbc, companies, interest, sulayem, seeing, arabia, virgin, big, saudi, transportation, technology, hyperloop, month, investors, company, chairman


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SAP shares fall on $8 billion Qualtrics takeover announcement

Shares of SAP fell on Monday after the company announced it was buying U.S. survey software maker Qualtrics for $8 billion. The German software giant said Sunday it would acquire Qualtrics in an all-cash deal that has already gained approval by the boards of both companies, as well as Qualtrics’ shareholders. As of 12:26 p.m. London time, SAP shares traded 3.65 percent lower. It is also one of the largest acquisitions the enterprise software maker has ever made, coming second only to SAP’s $8.3


Shares of SAP fell on Monday after the company announced it was buying U.S. survey software maker Qualtrics for $8 billion. The German software giant said Sunday it would acquire Qualtrics in an all-cash deal that has already gained approval by the boards of both companies, as well as Qualtrics’ shareholders. As of 12:26 p.m. London time, SAP shares traded 3.65 percent lower. It is also one of the largest acquisitions the enterprise software maker has ever made, coming second only to SAP’s $8.3
SAP shares fall on $8 billion Qualtrics takeover announcement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: ryan browne
Keywords: news, cnbc, companies, software, billion, deal, sap, fall, qualtrics, microsoft, announced, announcement, takeover, maker, firm, shares, traded


SAP shares fall on $8 billion Qualtrics takeover announcement

Shares of SAP fell on Monday after the company announced it was buying U.S. survey software maker Qualtrics for $8 billion.

The German software giant said Sunday it would acquire Qualtrics in an all-cash deal that has already gained approval by the boards of both companies, as well as Qualtrics’ shareholders.

SAP’s share price initially fell around 2 percent as traders in Europe digested news of the deal on Monday, soon extending losses with a 4 percent decrease later in morning trade. As of 12:26 p.m. London time, SAP shares traded 3.65 percent lower.

The deal announced Sunday saw SAP snap up Qualtrics — which counts recently-listed SurveyMonkey among its competitors — ahead of a planned listing for the firm, which would have traded on the Nasdaq under the symbol XM.

It is also one of the largest acquisitions the enterprise software maker has ever made, coming second only to SAP’s $8.3 billion purchase of travel and expense software firm Concur in 2014.

In addition, the deal comes on the back of a multitude of takeovers by big tech companies of coveted cloud software firms. IBM recently announced plans to buy Red Hat for $34 billion, the industry’s biggest ever acquisition, and Microsoft earlier this year bought GitHub for $7.5 billion.

Qualtrics was founded in 2002 by brothers Ryan and Jared Smith, their father, Scott, and Stuart Orgill. It counts well-known brands including Microsoft, Kellogg, BlackRock, Mastercard and Under Armour among its more than 9,000 customers.

— CNBC’s Alex Sherman and Jordan Novet contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: ryan browne
Keywords: news, cnbc, companies, software, billion, deal, sap, fall, qualtrics, microsoft, announced, announcement, takeover, maker, firm, shares, traded


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Stocks set to fall as Wall Street worries about global growth in the midst of rising rates

These sharp losses have rekindled worries about a possible slowdown in the global economy. The Fed on Thursday decided to leave its benchmark interest rate unchanged, as was expected, but comments by the U.S. central bank suggested it was on course to continue hiking rates. New York Fed President John Williams is holding a speech at 8:30 a.m. ET, Philadelphia Fed President Patrick Harker is making a speech at 8:50 a.m. ET, and Fed Vice Chairman of Supervision Randal Quarles is speaking at 9 a.m.


These sharp losses have rekindled worries about a possible slowdown in the global economy. The Fed on Thursday decided to leave its benchmark interest rate unchanged, as was expected, but comments by the U.S. central bank suggested it was on course to continue hiking rates. New York Fed President John Williams is holding a speech at 8:30 a.m. ET, Philadelphia Fed President Patrick Harker is making a speech at 8:50 a.m. ET, and Fed Vice Chairman of Supervision Randal Quarles is speaking at 9 a.m.
Stocks set to fall as Wall Street worries about global growth in the midst of rising rates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: ryan browne, tom williams, cq roll call, getty images
Keywords: news, cnbc, companies, wall, stocks, worries, global, president, speech, interest, rising, futures, slowdown, growth, et, losses, open, midst, rate, street, set, rates, fed


Stocks set to fall as Wall Street worries about global growth in the midst of rising rates

U.S. stock futures pointed to a negative open on Friday as further losses in oil prices sparked fears of a global economic slowdown as the Federal Reserve left the door open to further interest rate rises.

Around 8 a.m. ET, Dow Jones Industrial Average futures were indicating a drop of about 86 points. S&P 500 and Nasdaq futures were also in the red.

West Texas Intermediate futures fell 1.4 percent to $59.81 a barrel, breaking below $60. They were also fell further into bear-market territory, trading more than 20 percent below their 52-week high. These sharp losses have rekindled worries about a possible slowdown in the global economy.

The Fed on Thursday decided to leave its benchmark interest rate unchanged, as was expected, but comments by the U.S. central bank suggested it was on course to continue hiking rates.

Although a statement released by the institution noted a moderation in business investment, it said the bank still expects “further gradual increases” in the prime lending rate. Traders had been on edge last month due to concerns over the Fed’s rate hiking path.

Several Fed members will deliver speeches throughout the day on Friday. New York Fed President John Williams is holding a speech at 8:30 a.m. ET, Philadelphia Fed President Patrick Harker is making a speech at 8:50 a.m. ET, and Fed Vice Chairman of Supervision Randal Quarles is speaking at 9 a.m. ET.


Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: ryan browne, tom williams, cq roll call, getty images
Keywords: news, cnbc, companies, wall, stocks, worries, global, president, speech, interest, rising, futures, slowdown, growth, et, losses, open, midst, rate, street, set, rates, fed


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Vine’s co-founder says he’s launching a new video-looping app called Byte next year

Vine co-founder Dom Hofmann said Thursday he plans on launching a successor to his once hugely popular video-looping app next year. Hofmann said in a tweet that the new app would be called Byte, and that the aim is for the platform to be launched in spring 2019. When asked by one Twitter use whether the new service would be “v2” — meaning a follow-up to Vine — Hofmann responded: “Yes.” Hofmann’s announcement comes more than two years after Twitter — Vine’s former owner — first said it would shut


Vine co-founder Dom Hofmann said Thursday he plans on launching a successor to his once hugely popular video-looping app next year. Hofmann said in a tweet that the new app would be called Byte, and that the aim is for the platform to be launched in spring 2019. When asked by one Twitter use whether the new service would be “v2” — meaning a follow-up to Vine — Hofmann responded: “Yes.” Hofmann’s announcement comes more than two years after Twitter — Vine’s former owner — first said it would shut
Vine’s co-founder says he’s launching a new video-looping app called Byte next year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: ryan browne, dom hofmann
Keywords: news, cnbc, companies, successor, vines, service, launching, called, users, videolooping, cofounder, byte, v2, vine, popular, hofmann, twitter, app, hes


Vine's co-founder says he's launching a new video-looping app called Byte next year

Vine co-founder Dom Hofmann said Thursday he plans on launching a successor to his once hugely popular video-looping app next year.

Hofmann said in a tweet that the new app would be called Byte, and that the aim is for the platform to be launched in spring 2019.

When asked by one Twitter use whether the new service would be “v2” — meaning a follow-up to Vine — Hofmann responded: “Yes.” The Vine successor had previously been referred to as “V2” by its creator.

Details about the Vine successor are sparse so far, with just a website inviting prospective users to sign up for updates and potential content creators to join its “creator program.” CNBC reached out to Hofmann on Twitter for a comment but a response was not available immediately.

As for backing, Vine’s co-founder said his new firm has funding, a team and a product behind it.

Hofmann’s announcement comes more than two years after Twitter — Vine’s former owner — first said it would shutter the service. The app was officially discontinued in January 2017, and the company said later that month that it had created an internet archive for people to view Vine clips.

The service — which let users share six-second videos that could be viewed repeatedly on a loop — was a big enabler for some of the most well-known so-called social media “influencers,” including YouTube video makers Logan and Jake Paul and pop artist Shawn Mendes.

It was reportedly bought by Twitter in October 2012 for $30 million, a few months prior to its launch. The app became wildly popular, once becoming the most-downloaded free app on Apple’s iOS App Store.


Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: ryan browne, dom hofmann
Keywords: news, cnbc, companies, successor, vines, service, launching, called, users, videolooping, cofounder, byte, v2, vine, popular, hofmann, twitter, app, hes


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Treasury yields fall as the midterms result in a split Congress; Fed gathers for two-day meeting

ET, the yield on the benchmark 10-year Treasury note fell to around 3.182 percent, while the yield on the 30-year Treasury bond dropped to around 3.389 percent. Bond yields move inversely to prices. Meanwhile, the yield on the two-year Treasury pared gains seen in the previous session slightly, falling to around 2.92 percent. On Tuesday, the two-year yield hit its highest level since 2008. The Republicans maintained a majority in the Senate, assuaging concerns of a so-called blue wave clamping d


ET, the yield on the benchmark 10-year Treasury note fell to around 3.182 percent, while the yield on the 30-year Treasury bond dropped to around 3.389 percent. Bond yields move inversely to prices. Meanwhile, the yield on the two-year Treasury pared gains seen in the previous session slightly, falling to around 2.92 percent. On Tuesday, the two-year yield hit its highest level since 2008. The Republicans maintained a majority in the Senate, assuaging concerns of a so-called blue wave clamping d
Treasury yields fall as the midterms result in a split Congress; Fed gathers for two-day meeting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: ryan browne, jim bourg
Keywords: news, cnbc, companies, house, midterms, line, yields, wave, twoyear, bond, split, treasury, twoday, gathers, meeting, control, result, fed, trump, yield, fall


Treasury yields fall as the midterms result in a split Congress; Fed gathers for two-day meeting

U.S. government debt prices rose on Wednesday as midterm election results came in line with expectations, seeing the Democrats taking control of the House of Representatives and splitting Congress.

As of 5:10 a.m. ET, the yield on the benchmark 10-year Treasury note fell to around 3.182 percent, while the yield on the 30-year Treasury bond dropped to around 3.389 percent. Bond yields move inversely to prices.

Meanwhile, the yield on the two-year Treasury pared gains seen in the previous session slightly, falling to around 2.92 percent. On Tuesday, the two-year yield hit its highest level since 2008.

Democrats were projected to regain control of the House for the first time since 2010, giving the party a chance to keep the Trump administration in line. The Republicans maintained a majority in the Senate, assuaging concerns of a so-called blue wave clamping down on the president’s economic policies.


Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: ryan browne, jim bourg
Keywords: news, cnbc, companies, house, midterms, line, yields, wave, twoyear, bond, split, treasury, twoday, gathers, meeting, control, result, fed, trump, yield, fall


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2-year Treasury yield rises to highest level since 2008 ahead of US midterm elections

The yield on the benchmark two-year Treasury note rose to its highest level since 2008 as U.S. voters flocked to vote in the 2018 midterm elections. The yield on the benchmark 10-year Treasury note higher at 3.218 percent, while the yield on the 30-year Treasury bond rose to 3.435 percent. Bond yields move inversely to prices. Traders are focused on the U.S. midterm elections on Tuesday, which could send ripples throughout the credit markets. “Bond yields in my view, would get smoked if the Repu


The yield on the benchmark two-year Treasury note rose to its highest level since 2008 as U.S. voters flocked to vote in the 2018 midterm elections. The yield on the benchmark 10-year Treasury note higher at 3.218 percent, while the yield on the 30-year Treasury bond rose to 3.435 percent. Bond yields move inversely to prices. Traders are focused on the U.S. midterm elections on Tuesday, which could send ripples throughout the credit markets. “Bond yields in my view, would get smoked if the Repu
2-year Treasury yield rises to highest level since 2008 ahead of US midterm elections Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-06  Authors: thomas franck, ryan browne, drew angerer, getty images
Keywords: news, cnbc, companies, midterm, house, rises, vote, markets, elections, economy, fed, 2008, 2year, yield, ahead, highest, yields, republicans, bond, level, treasury


2-year Treasury yield rises to highest level since 2008 ahead of US midterm elections

The yield on the benchmark two-year Treasury note rose to its highest level since 2008 as U.S. voters flocked to vote in the 2018 midterm elections.

The rate on the two-year hit 2.924 percent, a level not seen by traders since June 25, 2008. The yield on the benchmark 10-year Treasury note higher at 3.218 percent, while the yield on the 30-year Treasury bond rose to 3.435 percent. Bond yields move inversely to prices.

The vote on Tuesday is being heralded as a referendum on President Donald Trump’s agenda, including his landmark tax cuts and large fiscal spending.

Traders are focused on the U.S. midterm elections on Tuesday, which could send ripples throughout the credit markets. The Democrats are expected to resume control of the House while the Republicans are forecast to maintain their marginal majority in the Senate. This outcome is seen as positive for U.S. markets as, historically, equities have made solid gains in a government gridlock scenario.

“My view is that the House is too tight to call as there are more than 40 House seats that are within the margin of error.. That said, I believe the stock and bond markets are leaning towards Democratic-controlled House,” Tom di Galoma, head of Treasury trading at Seaport Global Holdings. “Bond yields in my view, would get smoked if the Republicans pull this out in the end.”

If the GOP maintains a majority in both chambers, it could buoy stocks in the short term as it raises the possibility of further tax cuts. Meanwhile, a so-called blue sweep could put pressure on stocks as it may result in a reversal of some of the policies passed by Republicans to boost the economy in the near-term.

The relative calm in the U.S. credit market Tuesday comes as the Federal Reserve’s policymaking arm prepares to meet later this week. Fed officials, responsible for keeping unemployment low and inflation tame, have gradually increased interest rates under Chair Jerome Powell as they try to prevent the U.S. economy from overheating.

The Federal Open Market Committee will announce its latest adjustment to monetary policy on Thursday. Should the central bank choose to tweak its policy in November, it’s likely it will move to increase the rate paid by the Fed for excess reserves, according to Kevin Giddis, head of fixed income capital markets at Raymond James.

“Rates have certainly moved higher as inflation has ticked up. That won’t change much after the election, no matter who wins, loses, or gains control, which is why we still think the Fed will act in December,” Giddis said in an emailed statement Tuesday.

“Some believe that gridlock, if that turns out to be the case, is good for some equities and bad for other asset classes,” he added. “I would think that bonds would rally in price on that result, anticipating that the economy would slow, and that the FOMC would likely back away from their hawkish stance.”

Job openings in the U.S. edged lower in September but were ahead of the total number of people looking for work, the Labor Department said Tuesday.

Vacancies edged lower to just over 7 million, according to the Job Openings and Labor Turnover Survey. The JOLTS report gauges the degree of employment vacancy across the country as well as those who have left their positions.

The Treasury Department auctioned $27 billion in 10-year notes at a high yield of 3.209 percent. The bid-to-cover ratio, an indicator of demand, was 2.54. Indirect bidders, which include major central banks, were awarded 73.8 percent. Direct bidders, which includes domestic money managers, bought 1.2 percent.


Company: cnbc, Activity: cnbc, Date: 2018-11-06  Authors: thomas franck, ryan browne, drew angerer, getty images
Keywords: news, cnbc, companies, midterm, house, rises, vote, markets, elections, economy, fed, 2008, 2year, yield, ahead, highest, yields, republicans, bond, level, treasury


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