David Tepper’s Appaloosa sold its Apple position after the end of the third quarter, sources say

David Tepper’s Appaloosa Management sold its Apple position after the end of the third quarter, according to sources familiar with the matter. The stake was just a small trading position, the sources said. Appaloosa’s 13-F filing released this week showed a new position in Apple of 100,000 shares worth just $22.3 million. Shares of Apple inched lower following news of Appaloosa’s exit but remained up more than 1.4 percent on Thursday. The fund manager also cut its exposure to Facebook to 3.3 mil


David Tepper’s Appaloosa Management sold its Apple position after the end of the third quarter, according to sources familiar with the matter. The stake was just a small trading position, the sources said. Appaloosa’s 13-F filing released this week showed a new position in Apple of 100,000 shares worth just $22.3 million. Shares of Apple inched lower following news of Appaloosa’s exit but remained up more than 1.4 percent on Thursday. The fund manager also cut its exposure to Facebook to 3.3 mil
David Tepper’s Appaloosa sold its Apple position after the end of the third quarter, sources say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: scott wapner, thomas franck, david orrell
Keywords: news, cnbc, companies, reflect, sold, quarter, showed, say, david, end, apple, sources, stake, shares, position, teppers, appaloosa, funds


David Tepper's Appaloosa sold its Apple position after the end of the third quarter, sources say

David Tepper’s Appaloosa Management sold its Apple position after the end of the third quarter, according to sources familiar with the matter.

The stake was just a small trading position, the sources said. Appaloosa’s 13-F filing released this week showed a new position in Apple of 100,000 shares worth just $22.3 million. The filings reflect positions of funds through Sept. 30.

Shares of Apple inched lower following news of Appaloosa’s exit but remained up more than 1.4 percent on Thursday.

The 13-F filing with the Securities and Exchange Commission also showed that Appaloosa added a new stake in State Street and had doubled its position in PG&E. The fund manager also cut its exposure to Facebook to 3.3 million shares by the end of September.

Appaloosa Management has approximately $14 billion of assets under management.

Hedge funds are required to report their holdings 45 days after the end of each quarter. The filings often do not reflect their current holdings of the funds because the managers may have sold or bought stock in that 45-day window.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: scott wapner, thomas franck, david orrell
Keywords: news, cnbc, companies, reflect, sold, quarter, showed, say, david, end, apple, sources, stake, shares, position, teppers, appaloosa, funds


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No quick win for China on trade despite Kudlow-Navarro dispute, experts say

Peter Navarro, U.S. President Donald Trump’s trade advisor and a hardliner on China, has been sidelined by the White House — but prospects of a trade deal between the world’s two largest economies remain bleak, experts told CNBC. The U.S. and China have engaged in a trade fight this year, with Trump repeatedly attacking China for intellectual property theft, barriers to U.S. companies operating in China, and a massive trade imbalance. The U.S. president is expected to meet Chinese President Xi J


Peter Navarro, U.S. President Donald Trump’s trade advisor and a hardliner on China, has been sidelined by the White House — but prospects of a trade deal between the world’s two largest economies remain bleak, experts told CNBC. The U.S. and China have engaged in a trade fight this year, with Trump repeatedly attacking China for intellectual property theft, barriers to U.S. companies operating in China, and a massive trade imbalance. The U.S. president is expected to meet Chinese President Xi J
No quick win for China on trade despite Kudlow-Navarro dispute, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: yen nee lee, chip somodevilla, getty images, -rajiv biswas, chief economist for asia pacific, ihs markit
Keywords: news, cnbc, companies, worlds, say, navarro, win, dispute, advisor, white, expected, despite, xi, kudlownavarro, house, china, president, experts, quick, trade


No quick win for China on trade despite Kudlow-Navarro dispute, experts say

Peter Navarro, U.S. President Donald Trump’s trade advisor and a hardliner on China, has been sidelined by the White House — but prospects of a trade deal between the world’s two largest economies remain bleak, experts told CNBC.

The U.S. and China have engaged in a trade fight this year, with Trump repeatedly attacking China for intellectual property theft, barriers to U.S. companies operating in China, and a massive trade imbalance. The U.S. president is expected to meet Chinese President Xi Jinping at the G-20 summit in Argentina this month to talk trade.

CNBC reported Wednesday that the White House has deliberately curtailed Navarro’s public profile in the wake of an apparent dispute between him and top economic advisor Larry Kudlow.

Neither Kudlow nor Navarro is expected to depart from the White House.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: yen nee lee, chip somodevilla, getty images, -rajiv biswas, chief economist for asia pacific, ihs markit
Keywords: news, cnbc, companies, worlds, say, navarro, win, dispute, advisor, white, expected, despite, xi, kudlownavarro, house, china, president, experts, quick, trade


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Aramco may list downstream oil assets after acquiring chemical firm SABIC, strategists say

Saudi Aramco may consider spinning off its growing downstream division, which includes oil refining assets, a business where the oil giant is investing heavily to meet rising fuel demand in Asia, strategists said. Aramco must first complete its planned acquisition of a strategic stake in Saudi petrochemical maker SABIC before deciding whether to list its downstream business. No decision has been made and Saudi Aramco declined to comment on what it called “rumors or speculation.” That will be a l


Saudi Aramco may consider spinning off its growing downstream division, which includes oil refining assets, a business where the oil giant is investing heavily to meet rising fuel demand in Asia, strategists said. Aramco must first complete its planned acquisition of a strategic stake in Saudi petrochemical maker SABIC before deciding whether to list its downstream business. No decision has been made and Saudi Aramco declined to comment on what it called “rumors or speculation.” That will be a l
Aramco may list downstream oil assets after acquiring chemical firm SABIC, strategists say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: sri jegarajah, reza getty images, -bryan goh, bordier
Keywords: news, cnbc, companies, say, downstream, reserves, transparency, sabic, strategists, firm, oil, chemical, aramco, list, assets, saudi, stock, size, business


Aramco may list downstream oil assets after acquiring chemical firm SABIC, strategists say

Saudi Aramco may consider spinning off its growing downstream division, which includes oil refining assets, a business where the oil giant is investing heavily to meet rising fuel demand in Asia, strategists said.

Aramco must first complete its planned acquisition of a strategic stake in Saudi petrochemical maker SABIC before deciding whether to list its downstream business. No decision has been made and Saudi Aramco declined to comment on what it called “rumors or speculation.”

Riyadh-listed SABIC, the world’s fourth-biggest petrochemicals company, is 70 percent owned by the Public Investment Fund (PIF), Saudi Arabia’s top sovereign wealth fund. It has a market capitalization of 385.2 billion Saudi riyals ($103 billion).

“The first step will be completing the acquisition of the 70 percent of SABIC held by PIF and integrating that into Aramco’s petrochemical operations. That will be a lengthy and complicated business given the size of SABIC,” said Robin Mills, CEO of Qamar Energy, and a former Shell executive.

“After that, yes, there could be an offering of additional stock in a merged downstream unit either on Tadawul (Saudi’s stock exchange) or an international exchange,” Mills said. “This would sidestep many of the concerns on listing the full company over transparency, reserves, political exposure, sensitivity to oil price, country exposure and the large size of the unit.”

Restructuring the Aramco listing along those lines may make it more appealing to potential investors who have voiced skepticism about the transparency of the kingdom’s crude oil reserves, the long-term viability of the oil industry and the balance between investor and Saudi national priorities.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: sri jegarajah, reza getty images, -bryan goh, bordier
Keywords: news, cnbc, companies, say, downstream, reserves, transparency, sabic, strategists, firm, oil, chemical, aramco, list, assets, saudi, stock, size, business


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‘Duped,’ ‘tricked’ and ‘snookered’: Oil analysts say Trump fooled Saudis into tanking crude prices

But when the administration’s deadline for oil buyers to quit Iranian oil arrived on Nov. 4, Trump instead dolled out six-month exemptions to some of the country’s biggest customers. To be sure, the sanctions have shrunk Iran’s exports by about 1 million barrels per day. Few thought the Trump administration would actually achieve its stated goal of cutting its rival’s shipments to zero. But the sanctions, backed by the administration’s hawkish rhetoric, cut Iran’s exports more quickly than many


But when the administration’s deadline for oil buyers to quit Iranian oil arrived on Nov. 4, Trump instead dolled out six-month exemptions to some of the country’s biggest customers. To be sure, the sanctions have shrunk Iran’s exports by about 1 million barrels per day. Few thought the Trump administration would actually achieve its stated goal of cutting its rival’s shipments to zero. But the sanctions, backed by the administration’s hawkish rhetoric, cut Iran’s exports more quickly than many
‘Duped,’ ‘tricked’ and ‘snookered’: Oil analysts say Trump fooled Saudis into tanking crude prices Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: tom dichristopher, mandel ngan, afp, getty images
Keywords: news, cnbc, companies, tanking, tricked, saudis, severe, say, prices, ramped, oil, trump, fooled, snookered, nov, irans, exports, duped, sanctions, iran


'Duped,' 'tricked' and 'snookered': Oil analysts say Trump fooled Saudis into tanking crude prices

Who is MBS? The Prince at the center of Saudi Arabia’s controversy 11:10 AM ET Fri, 19 Oct 2018 | 03:57

The analysts say Trump essentially bamboozled the Saudis by threatening for months to implement sanctions against Iran so strictly, the Islamic Republic’s exports would go into free fall. But when the administration’s deadline for oil buyers to quit Iranian oil arrived on Nov. 4, Trump instead dolled out six-month exemptions to some of the country’s biggest customers.

“They got sort of tricked here,” said John Kilduff, founding partner at energy hedge fund Again Capital. “The Russians and the Saudis in particular ramped up production, ramped up exports ahead of what was supposed to be severe sanctions on Iran, and when the administration gave the eight waivers to Iran’s largest buyers, it undercut that whole equation.”

“So now we’ve tripped into an oversupply situation almost overnight because of the severe reaction by Russia and the Saudis to cover for Iran losses, which never materialized.”

To be sure, the sanctions have shrunk Iran’s exports by about 1 million barrels per day. Few thought the Trump administration would actually achieve its stated goal of cutting its rival’s shipments to zero.

But the sanctions, backed by the administration’s hawkish rhetoric, cut Iran’s exports more quickly than many anticipated. The market also expected another big drop after the Nov. 4 deadline passed. That fear fueled a rally that sent oil prices to four-year highs.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: tom dichristopher, mandel ngan, afp, getty images
Keywords: news, cnbc, companies, tanking, tricked, saudis, severe, say, prices, ramped, oil, trump, fooled, snookered, nov, irans, exports, duped, sanctions, iran


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These credit cards can keep you in debt longer

Stores offer big discounts on first purchases and months without interest on their credit cards. The average retail card has an interest rate of around 26 percent. That’s a lot higher than the typical credit card rate of around 20 percent. Indeed, Macy’s branded credit card accounted for nearly 40 percent of the store’s profit in 2016. Bruce McClary, vice president of communications at the National Foundation for Credit Counseling, gave an example of how the cards can hit your wallet.


Stores offer big discounts on first purchases and months without interest on their credit cards. The average retail card has an interest rate of around 26 percent. That’s a lot higher than the typical credit card rate of around 20 percent. Indeed, Macy’s branded credit card accounted for nearly 40 percent of the store’s profit in 2016. Bruce McClary, vice president of communications at the National Foundation for Credit Counseling, gave an example of how the cards can hit your wallet.
These credit cards can keep you in debt longer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: annie nova, getty images
Keywords: news, cnbc, companies, say, cards, debt, big, credit, rate, interest, card, retail, nearly, stores, longer


These credit cards can keep you in debt longer

Stores offer big discounts on first purchases and months without interest on their credit cards.

If you’re not careful, however, you could find yourself with a heap of debt too.

The average retail card has an interest rate of around 26 percent. Some stores — including Zales and Staples — will charge you nearly 30 percent in interest each year, according to CreditCards.com, which recently studied the terms and conditions on dozens of store cards.

That’s a lot higher than the typical credit card rate of around 20 percent.

“They’re big money makers for the retailers,” said Ted Rossman, an industry analyst at CreditCards.com.

Indeed, Macy’s branded credit card accounted for nearly 40 percent of the store’s profit in 2016.

Bruce McClary, vice president of communications at the National Foundation for Credit Counseling, gave an example of how the cards can hit your wallet.

“Let’s say you were to charge $2,000 for a new game system, television and accessories,” he said.

Many retail cards come with an interest-free period, but assume that when it was over you still had a balance of $1,500 and the interest rate kicked in at 25 percent. If you make the minimum payments, you’ll shell out more than $2,800 over eight years. “That’s 1,382.94 in interest,” McClary said.

More from Personal Finance:

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Before you pick a new credit card, check to see if it has this fine print

Still, half of Americans say they have applied for a retail card, according to CreditCards.com. Nearly 95 million people impulsively signed up for one at checkout. Store employees are often compensated if they’re able to rack up the number of people who say yes to these cards, Rossman said.

“There can be pressure to sign up for these in the moment,” he said. “Breathe a little and think about it for a few days.”


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: annie nova, getty images
Keywords: news, cnbc, companies, say, cards, debt, big, credit, rate, interest, card, retail, nearly, stores, longer


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Here’s why ‘buy the dip’ probably won’t be the winning strategy it’s been for years

“Buy the dip.” “As long as the economy remains strong and you get earnings growth, then equities are going to continue to rise. In other words, I don’t see any particular panic or … to me, the risk-reward isn’t necessarily screaming that you need to buy the dip,” Chintawongvanich said Tuesday on CNBC’s “Trading Nation.” In other words, investors are taking a more methodical approach to buying stock market dips, rather than swooping in to buy weakness. I’d say, strategically, if you’re invested i


“Buy the dip.” “As long as the economy remains strong and you get earnings growth, then equities are going to continue to rise. In other words, I don’t see any particular panic or … to me, the risk-reward isn’t necessarily screaming that you need to buy the dip,” Chintawongvanich said Tuesday on CNBC’s “Trading Nation.” In other words, investors are taking a more methodical approach to buying stock market dips, rather than swooping in to buy weakness. I’d say, strategically, if you’re invested i
Here’s why ‘buy the dip’ probably won’t be the winning strategy it’s been for years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: rebecca ungarino, dowell, getty images, randall hill, david orrell, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, say, buy, words, chintawongvanich, strategy, probably, winning, heres, wont, investors, necessarily, youre, dip, market, stocks, equities


Here's why 'buy the dip' probably won't be the winning strategy it's been for years

“Buy the dip.”

It’s become a tried-and-true tactic on Wall Street, an approach equity investors could rely on since the financial crisis as stocks have climbed for the better part of nine years.

But some say that’s no longer the viable strategy it once was as the market environment shifts and the Federal Reserve remains on its path to normalizing monetary policy.

Pravit Chintawongvanich, equity derivatives strategist at Wells Fargo, said that while he isn’t seeing any indication of knee-jerk “panic” in the marketplace that would signal getting out of stocks, investors can’t assume buying every dip will pay off.

“As long as the economy remains strong and you get earnings growth, then equities are going to continue to rise. But you’re going to make your money in equities the same way you traditionally do, which is from rising earnings, dividends and buybacks. In other words, I don’t see any particular panic or … to me, the risk-reward isn’t necessarily screaming that you need to buy the dip,” Chintawongvanich said Tuesday on CNBC’s “Trading Nation.”

In other words, investors are taking a more methodical approach to buying stock market dips, rather than swooping in to buy weakness. Chintawongvanich believes the market could very well rally over the next year, but in the short term there may not be a “buyable dips” as investors contend with factors like the rise in real rates and the competition equities could face from climbing Treasury yields.

“I’m not necessarily bearish on the market. I’d say, strategically, if you’re invested in equities, then stay invested in equities. But to me, I don’t see this as a tactical point to necessarily add exposure,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: rebecca ungarino, dowell, getty images, randall hill, david orrell, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, say, buy, words, chintawongvanich, strategy, probably, winning, heres, wont, investors, necessarily, youre, dip, market, stocks, equities


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Cramer: Fed chief Powell needs to pause hikes next year — he can’t ask for a do-over

CNBC’s Jim Cramer urged Jerome Powell to soften his rhetoric on interest rate hikes ahead of the Federal Reserve chairman’s expected comments at an event in Texas on Wednesday night. “All he has to do is say ‘I’m winning in some places,'” Cramer said on “Squawk on the Street.” “He can’t say, ‘I take it back, I want a do-over,'” Cramer added. Cramer has been critical of Powell, agreeing with President Donald Trump, but for different reasons, that rate increases should be halted. Powell and Dallas


CNBC’s Jim Cramer urged Jerome Powell to soften his rhetoric on interest rate hikes ahead of the Federal Reserve chairman’s expected comments at an event in Texas on Wednesday night. “All he has to do is say ‘I’m winning in some places,'” Cramer said on “Squawk on the Street.” “He can’t say, ‘I take it back, I want a do-over,'” Cramer added. Cramer has been critical of Powell, agreeing with President Donald Trump, but for different reasons, that rate increases should be halted. Powell and Dallas
Cramer: Fed chief Powell needs to pause hikes next year — he can’t ask for a do-over Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: berkeley lovelace jr, scott mlyn
Keywords: news, cnbc, companies, reserve, powell, cramer, say, cant, needs, president, pause, ask, expected, chief, doover, fed, rate, hikes, rhetoric, rates


Cramer: Fed chief Powell needs to pause hikes next year — he can't ask for a do-over

CNBC’s Jim Cramer urged Jerome Powell to soften his rhetoric on interest rate hikes ahead of the Federal Reserve chairman’s expected comments at an event in Texas on Wednesday night.

“All he has to do is say ‘I’m winning in some places,'” Cramer said on “Squawk on the Street.” “‘And it shows that maybe after the December hike, if I keep getting [wins], maybe I should pause.'”

“He can’t say, ‘I take it back, I want a do-over,'” Cramer added.

Cramer has been critical of Powell, agreeing with President Donald Trump, but for different reasons, that rate increases should be halted. Cramer has argued the central bank should increase rates one more time this year and then “wait and see.”

The Fed has already raised rates three times this year, and one more is expected in December.

Last month, Powell said the cost of borrowing money was a long way from so-called neutral, sparking concerns about a more aggressive Fed tightening that led to October being the worst month for the S&P 500 since September 2011.

Powell and Dallas Federal Reserve Bank President Robert Kaplan are expected to speak Wednesday on global economic issues in Dallas.

Cramer said Wednesday that Powell softening his rhetoric would give the Fed chief a “little wiggle room” but “would also explain that he doesn’t have to burn down the village to save it.”

The Fed declined to comment on Cramer’s remarks.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: berkeley lovelace jr, scott mlyn
Keywords: news, cnbc, companies, reserve, powell, cramer, say, cant, needs, president, pause, ask, expected, chief, doover, fed, rate, hikes, rhetoric, rates


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Sterling could jump 8% if Brexit deal gets approved by UK Parliament, experts say

With the U.K. and the European Union agreeing on a draft agreement for Brexit, traders are now contemplating what could happen to sterling. The currency has been under a lot of pressure lately owing to the uncertainty surrounding a Brexit agreement. But analysts told CNBC that the currency could hit anywhere between $1.35 and $1.40 if the deal gets passed through the U.K. Parliament. On Tuesday, Britain and the EU reportedly agreed to a draft of Brexit divorce terms. British Prime Minister There


With the U.K. and the European Union agreeing on a draft agreement for Brexit, traders are now contemplating what could happen to sterling. The currency has been under a lot of pressure lately owing to the uncertainty surrounding a Brexit agreement. But analysts told CNBC that the currency could hit anywhere between $1.35 and $1.40 if the deal gets passed through the U.K. Parliament. On Tuesday, Britain and the EU reportedly agreed to a draft of Brexit divorce terms. British Prime Minister There
Sterling could jump 8% if Brexit deal gets approved by UK Parliament, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: spriha srivastava, john thys, afp, getty images
Keywords: news, cnbc, companies, experts, say, jump, parliament, uk, union, brexit, wednesdayon, gets, draft, approved, currency, agreement, sterling, deal, uncertainty


Sterling could jump 8% if Brexit deal gets approved by UK Parliament, experts say

With the U.K. and the European Union agreeing on a draft agreement for Brexit, traders are now contemplating what could happen to sterling.

The currency has been under a lot of pressure lately owing to the uncertainty surrounding a Brexit agreement. But analysts told CNBC that the currency could hit anywhere between $1.35 and $1.40 if the deal gets passed through the U.K. Parliament. It was trading at $1.2953 at around 1:00 p.m. London time on Wednesday.

On Tuesday, Britain and the EU reportedly agreed to a draft of Brexit divorce terms. British Prime Minister Theresa May will meet with her Cabinet (her close circle of lawmakers) on Wednesday to get her ministers on side before presenting the deal to Parliament.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: spriha srivastava, john thys, afp, getty images
Keywords: news, cnbc, companies, experts, say, jump, parliament, uk, union, brexit, wednesdayon, gets, draft, approved, currency, agreement, sterling, deal, uncertainty


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How Michelle Obama used scrutiny over her style to her advantage

Obama was sometimes taken aback by the special scrutiny her clothes received. “It seemed that my clothes mattered more to people than anything I had to say,” wrote Obama. Obama wrote that the focus on women’s wardrobes can amount to a sort of double standard and even unfair expenses for women in visible positions. Obama wrote that her staff spent hours ensuring that the designers, colors and styles chosen for any trip paid the proper respects to the people and places she visited. Wrote Obama, “I


Obama was sometimes taken aback by the special scrutiny her clothes received. “It seemed that my clothes mattered more to people than anything I had to say,” wrote Obama. Obama wrote that the focus on women’s wardrobes can amount to a sort of double standard and even unfair expenses for women in visible positions. Obama wrote that her staff spent hours ensuring that the designers, colors and styles chosen for any trip paid the proper respects to the people and places she visited. Wrote Obama, “I
How Michelle Obama used scrutiny over her style to her advantage Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: ruth umoh
Keywords: news, cnbc, companies, wearing, wrote, attention, obama, clothes, used, michelle, scrutiny, say, lady, focus, style, advantage


How Michelle Obama used scrutiny over her style to her advantage

Michelle Obama’s newly released memoir “Becoming,” dropped Tuesday, covering a range of topics, including how she overcame her fears as a first lady at the start of her husband’s first term as president. The book also touches on a difficult adjustment she needed to make once she became a national public figure: people’s looks are sometimes studied more carefully than their words or their message. She’d learn to use the attention to her advantage.

Obama was sometimes taken aback by the special scrutiny her clothes received. “My pearls, my belts, my cardigans … all seemed to trigger a slew of opinions and instant feedback,” Obama wrote in an excerpt published on Elle.com

At one event, she was moved to tears by girls speaking at a school in London. A reporter didn’t ask what had prompted the first lady to become so emotional but instead asked who designed her dress. “It seemed that my clothes mattered more to people than anything I had to say,” wrote Obama.

Obama wrote that the focus on women’s wardrobes can amount to a sort of double standard and even unfair expenses for women in visible positions. Still, she used this obsession over her wardrobe to divert attention to social issues and people she thought were important.

Like other first ladies before her, she used her spotlight to give attention to American designers, especially ones that weren’t yet established. But she also used her fashion choices to give added visibility to the people she was photographed with or the platform she was trying to promote.

“If people flipped through a magazine primarily to see the clothes I was wearing, I hoped they’d also see the military spouse standing next to me or read what I had to say about children’s health.”

Other women in high profile positions have faced this same scrutiny. In 2015, a reporter asked Amal Clooney what she was wearing while the human rights attorney walked into court to represent Armenia in a genocide denial case. Clooney laughed and responded, “I’m wearing Ede & Ravenscroft,” a reference to a maker of legal robes, one of the oldest established tailors in England.

Fellow politico Hillary Clinton also faced intense scrutiny over her appearance and has said she wore her signature pantsuits in an attempt to control the conversation about her. “Since there wasn’t much to say or report on what I wore, maybe people would focus on what I was saying instead,” the Democratic presidential nominee wrote in her memoir “What Happened.”

To be sure, Obama served as first lady, where optics are paramount. Obama wrote that her staff spent hours ensuring that the designers, colors and styles chosen for any trip paid the proper respects to the people and places she visited.

Still, the focus on her style choices could sometimes be disappointing, she wrote. That said, it pushed her to find new ways to find power in her situation as a public figure, a role she said she would not have chosen for herself.

Wrote Obama, “I tried to reframe it as an opportunity to learn.”

Like this story? Like CNBC Make It on Facebook.

Don’t Miss: Michelle Obama: ‘It’s okay to be bossy’


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: ruth umoh
Keywords: news, cnbc, companies, wearing, wrote, attention, obama, clothes, used, michelle, scrutiny, say, lady, focus, style, advantage


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Levi Strauss plans IPO that values company at up to $5 billion, sources say

Levi Strauss & Co., the 145-year-old company credited with creating the first pair of blue jeans, is planning an initial public offering, people with knowledge of the matter said. Levi’s traces its history back to 1853 when Levi Strauss, an immigrant from Bavaria, moved to California during the gold-rush era seeking to open a West Coast outpost of his family’s dry goods business. Levi’s is currently privately held by the descendants of the family of Levi Strauss. The company’s Japanese affiliate


Levi Strauss & Co., the 145-year-old company credited with creating the first pair of blue jeans, is planning an initial public offering, people with knowledge of the matter said. Levi’s traces its history back to 1853 when Levi Strauss, an immigrant from Bavaria, moved to California during the gold-rush era seeking to open a West Coast outpost of his family’s dry goods business. Levi’s is currently privately held by the descendants of the family of Levi Strauss. The company’s Japanese affiliate
Levi Strauss plans IPO that values company at up to $5 billion, sources say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: leslie picker, chris ratcliffe, bloomberg, getty images
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Levi Strauss plans IPO that values company at up to $5 billion, sources say

Levi Strauss & Co., the 145-year-old company credited with creating the first pair of blue jeans, is planning an initial public offering, people with knowledge of the matter said.

Levi’s is looking to raise between $600 million and $800 million and targeting the first quarter of 2019 to go public, said the people, who asked not to be named discussing confidential deal details. The company is aiming to debut with a valuation upward of $5 billion, the people said.

The San Francisco-based company has tapped Goldman Sachs and J.P. Morgan to manage the deal, although the timing and size of the offering could change, the people said.

Levi’s traces its history back to 1853 when Levi Strauss, an immigrant from Bavaria, moved to California during the gold-rush era seeking to open a West Coast outpost of his family’s dry goods business. About two decades later, one of his customers, a tailor, partnered with Strauss to patent the idea to use rivets to make a pair of pants last longer and the company was born. This led to the first pair of blue jeans, the company said.

Levi’s is currently privately held by the descendants of the family of Levi Strauss. The company’s Japanese affiliate, Levi Strauss K.K. is publicly traded in Tokyo, and Levi’s bonds are publicly traded. As a result, Levi’s reports quarterly earnings with the Securities and Exchange Commission.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: leslie picker, chris ratcliffe, bloomberg, getty images
Keywords: news, cnbc, companies, billion, values, ipo, plans, saidlevis, company, strauss, pair, traded, say, public, offering, sources, million, levi, publicly


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