Fed says US economy ended 2018 with solid but weakening growth

The U.S. economy maintained “solid” growth through the second half of 2018, likely expanding “just under” 3 percent for the year, though consumer and business spending had begun to weaken, the Federal Reserve said on Friday in its semi-annual monetary policy report to Congress. From a “deteriorated” appetite for risk among investors to a slowdown in China, the outlook for policy is “more uncertain than earlier,” the Fed said, noting “softer global and economic conditions.” For 2018, the Fed said


The U.S. economy maintained “solid” growth through the second half of 2018, likely expanding “just under” 3 percent for the year, though consumer and business spending had begun to weaken, the Federal Reserve said on Friday in its semi-annual monetary policy report to Congress. From a “deteriorated” appetite for risk among investors to a slowdown in China, the outlook for policy is “more uncertain than earlier,” the Fed said, noting “softer global and economic conditions.” For 2018, the Fed said
Fed says US economy ended 2018 with solid but weakening growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: leah millis
Keywords: news, cnbc, companies, spending, economic, policy, ended, weakening, sheet, economy, rate, outlook, solid, fed, growth, report, 2018, second


Fed says US economy ended 2018 with solid but weakening growth

The U.S. economy maintained “solid” growth through the second half of 2018, likely expanding “just under” 3 percent for the year, though consumer and business spending had begun to weaken, the Federal Reserve said on Friday in its semi-annual monetary policy report to Congress.

In a document that balanced its mostly positive outlook for a still growing economy against an array of emerging domestic and global risks, the U.S. central bank laid out why it had put further interest rate hikes on hold last month.

From a “deteriorated” appetite for risk among investors to a slowdown in China, the outlook for policy is “more uncertain than earlier,” the Fed said, noting “softer global and economic conditions.”

That may spill into the start of 2019, the Fed said, noting that the recent 35-day partial shutdown of the U.S. government “likely held down GDP growth in the first quarter of this year.”

For 2018, the Fed said: “Consumer spending expanded at a strong rate for most of the second half … though spending appears to have weakened toward year-end.”

“Business investment grew as well, though growth seems to have slowed somewhat,” it added.

Consumer and business confidence remains “favorable,” but “some measures have softened since the fall,” the Fed reported. “Domestic financial conditions for businesses and households have become less supportive of economic growth.”

The Fed noted to Congress that it would continue to reduce the size of its balance sheet, which had declined by about $260 billion since its last report to lawmakers, ending the year at close to $4 trillion. But the central bank also repeated its new openness to adjusting “any of the details” of its balance sheet plan if economic and financial conditions warrant.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: leah millis
Keywords: news, cnbc, companies, spending, economic, policy, ended, weakening, sheet, economy, rate, outlook, solid, fed, growth, report, 2018, second


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Ford will stop selling commercial trucks in South America

Ford will stop selling heavy trucks in South America, a region where the automaker has long struggled. The second largest U.S. automaker expects to record pretax special item charges of about $460 million as a result. Ford will stop production at its Sao Bernardo do Campo plant in Brazil this year, and will stop selling the Cargo lineup, F-4000 and F-350 trucks along with the Fiesta compact car once it sells out of its inventories. The automaker said it is still invested in the region, despite t


Ford will stop selling heavy trucks in South America, a region where the automaker has long struggled. The second largest U.S. automaker expects to record pretax special item charges of about $460 million as a result. Ford will stop production at its Sao Bernardo do Campo plant in Brazil this year, and will stop selling the Cargo lineup, F-4000 and F-350 trucks along with the Fiesta compact car once it sells out of its inventories. The automaker said it is still invested in the region, despite t
Ford will stop selling commercial trucks in South America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: robert ferris, source
Keywords: news, cnbc, companies, commercial, trucks, second, region, ford, stop, selling, america, struggledthe, special, automaker, sells, south


Ford will stop selling commercial trucks in South America

Ford will stop selling heavy trucks in South America, a region where the automaker has long struggled.

The second largest U.S. automaker expects to record pretax special item charges of about $460 million as a result.

Ford will stop production at its Sao Bernardo do Campo plant in Brazil this year, and will stop selling the Cargo lineup, F-4000 and F-350 trucks along with the Fiesta compact car once it sells out of its inventories.

The automaker said it is still invested in the region, despite the pullback.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: robert ferris, source
Keywords: news, cnbc, companies, commercial, trucks, second, region, ford, stop, selling, america, struggledthe, special, automaker, sells, south


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Montana’s Steve Bullock back in Iowa as he considers White House bid

Steve Bullock is showing increasing signs he is getting serious about a White House bid. On Saturday, the two-term governor visited with voters and Democratic Party officials in Iowa for the second day of his trip to the key early-voting state. Since he began weighing a 2020 bid, Bullock has made five trips to the Hawkeye State, according to the Associated Press. He previously served as Montana’s attorney general, and holds the governorship of a state where Republicans dominate the legislature.


Steve Bullock is showing increasing signs he is getting serious about a White House bid. On Saturday, the two-term governor visited with voters and Democratic Party officials in Iowa for the second day of his trip to the key early-voting state. Since he began weighing a 2020 bid, Bullock has made five trips to the Hawkeye State, according to the Associated Press. He previously served as Montana’s attorney general, and holds the governorship of a state where Republicans dominate the legislature.
Montana’s Steve Bullock back in Iowa as he considers White House bid Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-17  Authors: jeff daniels, tom williams, cq-roll call group, getty images, heath korvola, digitalvision, george frey
Keywords: news, cnbc, companies, key, montanas, bid, bullock, house, state, democratic, second, iowa, steve, showing, white, considers, won, issues


Montana's Steve Bullock back in Iowa as he considers White House bid

Montana Gov. Steve Bullock is showing increasing signs he is getting serious about a White House bid. On Saturday, the two-term governor visited with voters and Democratic Party officials in Iowa for the second day of his trip to the key early-voting state.

Since he began weighing a 2020 bid, Bullock has made five trips to the Hawkeye State, according to the Associated Press. The 52-year-old is being touted as a candidate with political support in a red state, and one who could help strengthen the Democratic Party’s showing in rural areas.

Bullock, who won a second term in 2016 by edging out a GOP challenger in a state where President Donald Trump defeated Democrat Hillary Clinton by 20 points, has tried to frame himself as a bipartisan leader. He previously served as Montana’s attorney general, and holds the governorship of a state where Republicans dominate the legislature.

Bullock, who declined CNBC’s interview requests, is seen as progressive on most bread and butter issues such as health care and education, but changed his views on gun control just last year. Here are some key issues he’s likely to run on as the field of Democratic presidential candidates continues to grow.


Company: cnbc, Activity: cnbc, Date: 2019-02-17  Authors: jeff daniels, tom williams, cq-roll call group, getty images, heath korvola, digitalvision, george frey
Keywords: news, cnbc, companies, key, montanas, bid, bullock, house, state, democratic, second, iowa, steve, showing, white, considers, won, issues


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Germany narrowly escapes recession after flat growth in the fourth quarter

Germany has narrowly avoided a technical recession after it posted flat growth in the fourth quarter, raising concerns that Europe’s largest economy is continuing to slow down. The latest growth data from Germany come after a period of domestic tumult, particularly for its beleaguered car industry, and global concerns over trade, import tariffs and growth. The flat fourth quarter data shows that Germany has narrowly avoided a recession – defined as two consecutive quarters of declining growth. I


Germany has narrowly avoided a technical recession after it posted flat growth in the fourth quarter, raising concerns that Europe’s largest economy is continuing to slow down. The latest growth data from Germany come after a period of domestic tumult, particularly for its beleaguered car industry, and global concerns over trade, import tariffs and growth. The flat fourth quarter data shows that Germany has narrowly avoided a recession – defined as two consecutive quarters of declining growth. I
Germany narrowly escapes recession after flat growth in the fourth quarter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: holly ellyatt, picture alliance, getty images
Keywords: news, cnbc, companies, positive, second, growth, flat, narrowly, escapes, quarter, data, recession, fourth, germany, trade


Germany narrowly escapes recession after flat growth in the fourth quarter

Germany has narrowly avoided a technical recession after it posted flat growth in the fourth quarter, raising concerns that Europe’s largest economy is continuing to slow down.

Preliminary data showed growth of 0.0 percent in the fourth quarter from the previous quarter, Germany’s federal statistics office Destatis said Thursday, below a Reuters forecast of 0.1 percent..

Destatis added that “positive contributions” in the fourth quarter came from domestic demand “however, development of foreign trade did not make a positive contribution to growth in the fourth-quarter.”

The latest growth data from Germany come after a period of domestic tumult, particularly for its beleaguered car industry, and global concerns over trade, import tariffs and growth.

The flat fourth quarter data shows that Germany has narrowly avoided a recession – defined as two consecutive quarters of declining growth. It does not bode well for Europe, however, which sees Germany as a traditional growth driver in the region.

“After a dynamic start into the first half of the year (+0.4 percent in the first quarter, +0.5 percent in the second quarter), a small dip (-0.2 percent in the third quarter, 0.0 percent in the fourth quarter) was recorded in the second half of the year. For the whole year of 2018, this was an increase of 1.4 percent,” Destatis said.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: holly ellyatt, picture alliance, getty images
Keywords: news, cnbc, companies, positive, second, growth, flat, narrowly, escapes, quarter, data, recession, fourth, germany, trade


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A second UK referendum is a ‘long way’ from being viable: Prof

A second UK referendum is a ‘long way’ from being viable: Prof13 Hours AgoJonathan Portes of King’s College London says an extension to the Article 50 deadline is “by far” the most probable outcome to Brexit, but it is not “certain” at this point.


A second UK referendum is a ‘long way’ from being viable: Prof13 Hours AgoJonathan Portes of King’s College London says an extension to the Article 50 deadline is “by far” the most probable outcome to Brexit, but it is not “certain” at this point.
A second UK referendum is a ‘long way’ from being viable: Prof Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14
Keywords: news, cnbc, companies, second, way, long, portes, probable, outcome, prof13, referendum, uk, prof, viable, point


A second UK referendum is a 'long way' from being viable: Prof

A second UK referendum is a ‘long way’ from being viable: Prof

13 Hours Ago

Jonathan Portes of King’s College London says an extension to the Article 50 deadline is “by far” the most probable outcome to Brexit, but it is not “certain” at this point.


Company: cnbc, Activity: cnbc, Date: 2019-02-14
Keywords: news, cnbc, companies, second, way, long, portes, probable, outcome, prof13, referendum, uk, prof, viable, point


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Millennial brides force David’s Bridal, fresh out of bankruptcy, to try something new

David’s Bridal already has something old: 60 years in the bridal industry. Now, David’s Bridal is looking to conquer the new bridal landscape even as the $2.4 billion bridal-wear industry declines along with the marriage rate. Those investments include Blue Print Registry, which David’s Bridal acquired last year, giving it technology to help brides plan their registry, import registries from other retailers and register for cash. It is evaluating other ways to help brides streamline wedding plan


David’s Bridal already has something old: 60 years in the bridal industry. Now, David’s Bridal is looking to conquer the new bridal landscape even as the $2.4 billion bridal-wear industry declines along with the marriage rate. Those investments include Blue Print Registry, which David’s Bridal acquired last year, giving it technology to help brides plan their registry, import registries from other retailers and register for cash. It is evaluating other ways to help brides streamline wedding plan
Millennial brides force David’s Bridal, fresh out of bankruptcy, to try something new Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: lauren hirsch, jeenah moon, bloomberg, getty images
Keywords: news, cnbc, companies, second, millennial, bankruptcy, retailer, fresh, try, bridal, stores, force, davids, retailers, brides, dresses, help


Millennial brides force David's Bridal, fresh out of bankruptcy, to try something new

David’s Bridal already has something old: 60 years in the bridal industry. Now, having emerged from three months in bankruptcy proceedings, it is trying something new as start-up competition and millennial brides upend its market.

The retailer filed for bankruptcy in November, saddled in debt that partially stemmed from its $1.05 billion sale to private equity firm Clayton Dubilier & Rice in 2012. It emerged from bankruptcy in January, a quick in-and-out made easier after its lenders and equity investors agreed on a new structure.

“We are very happy to be on the other side of it,” Chief Executive Officer Scott Key told CNBC.

Now, David’s Bridal is looking to conquer the new bridal landscape even as the $2.4 billion bridal-wear industry declines along with the marriage rate. Newer online retailers like Reformation offer brides more relaxed alternatives to traditional gowns. Online retailers like Jasmine Bridal are making their own wedding dresses and selling them for less than gowns sold in stores in the past.

Millennials are also marrying later — though later weddings could lead to more expensive affairs.

“We are making significant investments in improving our overall customer experience,” said Key.

Those investments include Blue Print Registry, which David’s Bridal acquired last year, giving it technology to help brides plan their registry, import registries from other retailers and register for cash. It unveiled a new commercial in January that reminded brides “most importantly, something you.” It is working with its in-house alteration team to help brides customize and personalize their dresses. It is evaluating other ways to help brides streamline wedding planning.

It is also offering more dresses in a broader array of sizes, while making certain dresses available at more price points. It lowered prices of many of its best-selling bridesmaid dresses.

One significant change not in the works is cutting away at its store base. Unlike many retailers that enter bankruptcy to help get rid of bad leases and trim their footprint, David’s Bridal emerged with roughly the same 300 or so stores it had across the U.S., Canada, U.K. and in Mexico, through franchise owners. It continues to add to its footprint in Canada, opening up a store in Vaughan, Ontario, last month. It has two stores owned by franchisees in Mexico, with two more in the works.

Barring the occasional exception, most David’s Bridal stores are profitable, said Key.

The retailer is also hoping to avert another trend marked by other bankrupt retailers: a second trip back to bankruptcy court. Gymboree filed for the second time earlier this year, while Payless is planning its own potential second trip into bankruptcy court, CNBC has reported, though those plans could still be averted.

While credit ratings agency S&P has said it sees positive signs for the retailer with its “significantly reduced balance sheet debt and a still fairly well-recognized brand name,” it has also raised some potential pitfalls. S&P said the bridal retail landscape remains challenging, and there is “execution risk” associated with David’s Bridal’s new strategies.

Key, though, says he remains confident, in part due to its continuing hold in the bridal market and the changes the company expects to implement.

Out of bankruptcy “we can return to what we do well: servicing one in three brides in the market place,” said Key.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: lauren hirsch, jeenah moon, bloomberg, getty images
Keywords: news, cnbc, companies, second, millennial, bankruptcy, retailer, fresh, try, bridal, stores, force, davids, retailers, brides, dresses, help


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Traders boost the wrong stock for a second time after J&J takeover

Drug developer Auris Medical surged as much as 30 percent on Wednesday after a takeover announcement from Johnson & Johnson came out in the morning. Auris Health is. Investors (and computer algorithms) mistakenly bought shares of Auris Medical instead of Auris Health, a robotic surgery company. This was actually the second time that Auris Medical has gotten a surprise boost. The stock jumped more than 30 percent on Jan.23 when news came out that J&J was pursuing a deal with Auris Health.


Drug developer Auris Medical surged as much as 30 percent on Wednesday after a takeover announcement from Johnson & Johnson came out in the morning. Auris Health is. Investors (and computer algorithms) mistakenly bought shares of Auris Medical instead of Auris Health, a robotic surgery company. This was actually the second time that Auris Medical has gotten a surprise boost. The stock jumped more than 30 percent on Jan.23 when news came out that J&J was pursuing a deal with Auris Health.
Traders boost the wrong stock for a second time after J&J takeover Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: yun li, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, computer, health, market, company, shares, boost, wrong, auris, johnson, medical, second, jj, takeover, traders, stock


Traders boost the wrong stock for a second time after J&J takeover

Drug developer Auris Medical surged as much as 30 percent on Wednesday after a takeover announcement from Johnson & Johnson came out in the morning.

But Auris Medical isn’t the company being bought by J&J. Auris Health is.

Investors (and computer algorithms) mistakenly bought shares of Auris Medical instead of Auris Health, a robotic surgery company. This was actually the second time that Auris Medical has gotten a surprise boost. The stock jumped more than 30 percent on Jan.23 when news came out that J&J was pursuing a deal with Auris Health.

Auris Medical has a tiny market value of $12 million and is based in Zug, Switzerland. It makes treatment inner ear ailments.

Auris Health is a privately held company and doesn’t have shares available for secondary trading.

The mistake flies in the face of investors who argue the stock market is efficient and becoming smarter because of the prevalence of computer trading.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: yun li, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, computer, health, market, company, shares, boost, wrong, auris, johnson, medical, second, jj, takeover, traders, stock


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A hard Brexit could still happen, economist says

A hard Brexit could still happen, economist says12 Hours AgoRob Carnell of ING says a second referendum could be a “further progression” in the democratic process, but could also be a “nightmare.”


A hard Brexit could still happen, economist says12 Hours AgoRob Carnell of ING says a second referendum could be a “further progression” in the democratic process, but could also be a “nightmare.”
A hard Brexit could still happen, economist says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13
Keywords: news, cnbc, companies, progression, brexit, happen, hours, ing, economist, second, hard, process, referendum, nightmare, says12


A hard Brexit could still happen, economist says

A hard Brexit could still happen, economist says

12 Hours Ago

Rob Carnell of ING says a second referendum could be a “further progression” in the democratic process, but could also be a “nightmare.”


Company: cnbc, Activity: cnbc, Date: 2019-02-13
Keywords: news, cnbc, companies, progression, brexit, happen, hours, ing, economist, second, hard, process, referendum, nightmare, says12


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Former Greek prime minister to the UK: Come back to the EU

Former Greek prime minister to the UK: Come back to the EU12 Hours AgoFormer Prime Minister of Greece George Papandreou says a second referendum in the U.K., if conducted properly, could help the U.K. to heal. He also says Britain is giving up its “voice” by leaving the EU.


Former Greek prime minister to the UK: Come back to the EU12 Hours AgoFormer Prime Minister of Greece George Papandreou says a second referendum in the U.K., if conducted properly, could help the U.K. to heal. He also says Britain is giving up its “voice” by leaving the EU.
Former Greek prime minister to the UK: Come back to the EU Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-10
Keywords: news, cnbc, companies, referendum, voice, prime, come, hours, second, greek, minister, uk, eu, papandreou, leaving, properly


Former Greek prime minister to the UK: Come back to the EU

Former Greek prime minister to the UK: Come back to the EU

12 Hours Ago

Former Prime Minister of Greece George Papandreou says a second referendum in the U.K., if conducted properly, could help the U.K. to heal. He also says Britain is giving up its “voice” by leaving the EU.


Company: cnbc, Activity: cnbc, Date: 2019-02-10
Keywords: news, cnbc, companies, referendum, voice, prime, come, hours, second, greek, minister, uk, eu, papandreou, leaving, properly


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Summit with Kim Jong Un will be held in Hanoi, Trump says

U.S. President Donald Trump said on Friday that U.S. diplomats had a “very productive meeting” with North Korean officials, and he announced his summit later this month with North Korean leader Kim Jong Un would be held in Vietnam’s capital, Hanoi. “My representatives have just left North Korea after a very productive meeting and an agreed upon time and date for the second Summit with Kim Jong Un. Earlier this week, Trump announced the dates for the second summit with Kim and said it would be he


U.S. President Donald Trump said on Friday that U.S. diplomats had a “very productive meeting” with North Korean officials, and he announced his summit later this month with North Korean leader Kim Jong Un would be held in Vietnam’s capital, Hanoi. “My representatives have just left North Korea after a very productive meeting and an agreed upon time and date for the second Summit with Kim Jong Un. Earlier this week, Trump announced the dates for the second summit with Kim and said it would be he
Summit with Kim Jong Un will be held in Hanoi, Trump says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-09  Authors: chung sung-jun, getty images
Keywords: news, cnbc, companies, korea, hanoi, summit, jong, north, korean, second, pyongyang, singapore, trump, talks, held, kim


Summit with Kim Jong Un will be held in Hanoi, Trump says

U.S. President Donald Trump said on Friday that U.S. diplomats had a “very productive meeting” with North Korean officials, and he announced his summit later this month with North Korean leader Kim Jong Un would be held in Vietnam’s capital, Hanoi.

“My representatives have just left North Korea after a very productive meeting and an agreed upon time and date for the second Summit with Kim Jong Un. It will take place in Hanoi, Vietnam, on February 27 & 28,” Trump said on Twitter.

“I look forward to seeing Chairman Kim & advancing the cause of peace!” he said.

Earlier this week, Trump announced the dates for the second summit with Kim and said it would be held in Vietnam, but the city had not been disclosed.

Stephen Biegun, the U.S. special representative for North Korea, held three days of talks in Pyongyang to prepare for the summit, the State Department said on Friday.

It said Biegun had agreed with his counterpart Kim Hyok Chol to meet again ahead of the summit.

In their talks in Pyongyang, from Wednesday to Friday, Biegun and Kim Hyok Chol “discussed advancing President Trump and Chairman Kim’s Singapore summit commitments of complete denuclearization, transforming U.S.-DPRK relations, and building a lasting peace on the Korean Peninsula,” the State Department said.

Its statement, which referred to North Korea by the acronym for its official name, the Democratic People’s Republic of Korea, gave no indication of any progress in the talks.

Just weeks ahead of the planned summit to follow on from an unprecedented first meeting between the leaders in Singapore last June, the two sides have appeared far from narrowing differences over U.S. demands for North Korea to give up a nuclear weapons program that threatens the United States.

Biegun said last week his Pyongyang talks would be aimed at seeking progress on commitments made in Singapore and mapping out “a set of concrete deliverables” for the second summit.

He said Washington was willing to discuss “many actions” to improve ties and entice Pyongyang to give up its nuclear weapons and that Trump was ready to end the 1950-53 Korean War, which concluded with an armistice, not a peace treaty.


Company: cnbc, Activity: cnbc, Date: 2019-02-09  Authors: chung sung-jun, getty images
Keywords: news, cnbc, companies, korea, hanoi, summit, jong, north, korean, second, pyongyang, singapore, trump, talks, held, kim


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