US futures point to a triple-digit fall amid Saudi Arabia tensions

U.S. stock index futures pulled back ahead of Monday’s open, as investors kept a close eye on a potential slowdown in the Chinese economy and monitored simmering tensions between Saudi Arabia and the West. ET, Dow futures were seen more than 134 points lower, indicating a negative open of 153 points. Futures on the S&P and Nasdaq were also seen relatively downbeat on Monday morning. As the new week kicks into action, many investors remained in a cautious mood following an abrupt market shakeout


U.S. stock index futures pulled back ahead of Monday’s open, as investors kept a close eye on a potential slowdown in the Chinese economy and monitored simmering tensions between Saudi Arabia and the West. ET, Dow futures were seen more than 134 points lower, indicating a negative open of 153 points. Futures on the S&P and Nasdaq were also seen relatively downbeat on Monday morning. As the new week kicks into action, many investors remained in a cautious mood following an abrupt market shakeout
US futures point to a triple-digit fall amid Saudi Arabia tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: sam meredith
Keywords: news, cnbc, companies, points, set, tensions, trading, previous, seen, open, futures, amid, investors, fall, point, saudi, tripledigit, arabia, sp, week


US futures point to a triple-digit fall amid Saudi Arabia tensions

U.S. stock index futures pulled back ahead of Monday’s open, as investors kept a close eye on a potential slowdown in the Chinese economy and monitored simmering tensions between Saudi Arabia and the West.

At around 4:30 a.m. ET, Dow futures were seen more than 134 points lower, indicating a negative open of 153 points. Futures on the S&P and Nasdaq were also seen relatively downbeat on Monday morning.

As the new week kicks into action, many investors remained in a cautious mood following an abrupt market shakeout in the previous trading week. The global sell-off was blamed on a series of factors, including the impact of a U.S.-China trade war, a spike in U.S. bond yields and nervousness ahead of earnings season.

U.S. stocks finished almost 300 points higher on Friday but still registered steep losses for the week as investors fretted over rising interest rates. The Dow and S&P 500 finished the previous trading week down more than 4 percent, while the Nasdaq posted a 3.7 percent weekly loss.

Retail sales figures for September are scheduled to be published at around 8:30 a.m. ET on Monday. Later in the session, Empire State Manufacturing Index data for October and business inventories data for August are both set to be released at around 10:00 a.m.

On the earnings front, Bank of America and Charles Schwab are both set to publish their latest figures before the opening bell.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: sam meredith
Keywords: news, cnbc, companies, points, set, tensions, trading, previous, seen, open, futures, amid, investors, fall, point, saudi, tripledigit, arabia, sp, week


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Ford sales in China dropped 43 percent in September

Ford’s sales in China dropped 43 percent in September from the same month a year earlier, a sign that sales are slowing in the world’s largest car market. This is the third straight month of declining auto sales in China. The second-largest U.S. automaker has been hit by the ongoing trade war between the U.S. and China, despite the fact that Ford sells cars in China through partnerships with local firms. Ford has unique problems in China, Dunne said. The automaker has not brought new products to


Ford’s sales in China dropped 43 percent in September from the same month a year earlier, a sign that sales are slowing in the world’s largest car market. This is the third straight month of declining auto sales in China. The second-largest U.S. automaker has been hit by the ongoing trade war between the U.S. and China, despite the fact that Ford sells cars in China through partnerships with local firms. Ford has unique problems in China, Dunne said. The automaker has not brought new products to
Ford sales in China dropped 43 percent in September Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: robert ferris, johannes eisele, afp, getty images, cnbc, darren weaver
Keywords: news, cnbc, companies, dunne, sales, war, 43, consumers, trade, seen, china, dropped, chinese, times, ford


Ford sales in China dropped 43 percent in September

Ford’s sales in China dropped 43 percent in September from the same month a year earlier, a sign that sales are slowing in the world’s largest car market.

This is the third straight month of declining auto sales in China.

The second-largest U.S. automaker has been hit by the ongoing trade war between the U.S. and China, despite the fact that Ford sells cars in China through partnerships with local firms.

Ford shares are down nearly 30 percent since the beginning of the year. The stock hit a 52-week low of $8.57 in trading Friday.

Auto sales are down across the board in China, said Michael Dunne, president of ZoZo Go, an investment advisory firm that follows Chinese autonomous and electrified vehicle companies. This is the first sustained downturn Dunne has seen since the Asian financial crisis in the late 1990s, he said.

There are three major factors driving this decline in demand. The first is a crackdown on certain types of peer-to-peer lending practices in China, a feature of the Chinese financial system that has typically allowed less wealthy Chinese to borrow money at rates better than what banks are offering.

The second is a general cautiousness among Chinese consumers that has emerged recently.

“When times are good, the Chinese are really bullish and bold,” he said. “But when times are uncertain they become exceptionally conservative.”

There is a particular mentality that can take hold among Chinese consumers that is more pronounced than the lack of consumer confidence seen in the United States, for example. “And it is contagious,” he added.

Finally, there is the trade war with the U.S., which has exacerbated the uncertainty many Chinese feel from the overall economic slowdown.

Ford has unique problems in China, Dunne said. The automaker has not brought new products to market for more than a year, and Chinese consumers have sought cars elsewhere. Ford is expected to bring new products to China in the next few months, he said.

Ford was not immediately available for comment.

WATCH: Ford is using bionic suits to help employees work safer


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: robert ferris, johannes eisele, afp, getty images, cnbc, darren weaver
Keywords: news, cnbc, companies, dunne, sales, war, 43, consumers, trade, seen, china, dropped, chinese, times, ford


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Angela Merkel’s power is weakening, who could be Germany’s next leader?

German Chancellor Angela Merkel has seen her grip on power wane following an inconclusive election a year ago. This is leading Germany’s political establishment, and the public, to ask who and what will come after Merkel’s time in office comes to an end. While her emphasis on austerity made her an unpopular figure among the bailout nations, many admired her for steering the single currency area through the slowdown. As the euro zone started to recover from its financial woes, another crisis hit


German Chancellor Angela Merkel has seen her grip on power wane following an inconclusive election a year ago. This is leading Germany’s political establishment, and the public, to ask who and what will come after Merkel’s time in office comes to an end. While her emphasis on austerity made her an unpopular figure among the bailout nations, many admired her for steering the single currency area through the slowdown. As the euro zone started to recover from its financial woes, another crisis hit
Angela Merkel’s power is weakening, who could be Germany’s next leader? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: holly ellyatt, joerg koch, getty images news, getty images, tobias schwarz, afp, alexander hassenstein, johannes simon, getty images entertainment
Keywords: news, cnbc, companies, angela, rise, rightwing, power, germanys, merkels, steering, germany, unpopular, leader, seen, weakening, party, zone, merkel, euro


Angela Merkel's power is weakening, who could be Germany's next leader?

German Chancellor Angela Merkel has seen her grip on power wane following an inconclusive election a year ago.

Now, leading a fragile and fractious coalition government, unpopular with voters and nervously watching the rise of the right-wing on the sidelines, Merkel is facing an open rebellion within her own party, the Christian Democratic Union (CDU).

This is leading Germany’s political establishment, and the public, to ask who and what will come after Merkel’s time in office comes to an end.

She has been chancellor in Germany since 2005 and has been widely seen as a safe pair of hands, steering the euro zone’s largest economy through the financial crisis.

Nicknamed “Mutti” (or mother) in Germany, Merkel was also seen as a driving force for fiscal prudence in the euro zone at the height of the sovereign debt crisis, encouraging countries that had received bailouts to adhere to austerity measures. While her emphasis on austerity made her an unpopular figure among the bailout nations, many admired her for steering the single currency area through the slowdown.

As the euro zone started to recover from its financial woes, another crisis hit the region in 2015 when Europe witnessed an influx of migrants and refugees fleeing conflict in the Middle East, particularly the civil war in Syria.

Again, Merkel garnered praise in many quarters for her principled stance when migration peaked — allowing over a million migrants to enter the country in 2015 — but the decision also cost her dearly. Her permissive position on migration has been cited as a reason that Merkel’s party did not fare so well in the country’s last election and as helping the rise of right-wing party, the Alternative for Germany (AfD).


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: holly ellyatt, joerg koch, getty images news, getty images, tobias schwarz, afp, alexander hassenstein, johannes simon, getty images entertainment
Keywords: news, cnbc, companies, angela, rise, rightwing, power, germanys, merkels, steering, germany, unpopular, leader, seen, weakening, party, zone, merkel, euro


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Wall Street losses rip through global markets as rate fears shake investors

Global markets plunged Thursday, continuing steep losses seen in the previous session, as investors worry about rapidly rising interest rates and an expected slowdown in global growth. Overnight Dow Jones industrial average futures were down by 189 points as of 2:52 a.m. This after stocks sank Wednesday with the Dow plunging more than 800 points in its worst drop since February. Around the world, stocks have tumbled on the back of concerns surrounding global economic growth and rising interest r


Global markets plunged Thursday, continuing steep losses seen in the previous session, as investors worry about rapidly rising interest rates and an expected slowdown in global growth. Overnight Dow Jones industrial average futures were down by 189 points as of 2:52 a.m. This after stocks sank Wednesday with the Dow plunging more than 800 points in its worst drop since February. Around the world, stocks have tumbled on the back of concerns surrounding global economic growth and rising interest r
Wall Street losses rip through global markets as rate fears shake investors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, eustance huang, ryan browne, matt clinch, getty images
Keywords: news, cnbc, companies, seen, investors, points, street, wall, dow, yields, trump, stocks, week, rates, rate, global, losses, markets, rip, shake, fears


Wall Street losses rip through global markets as rate fears shake investors

Global markets plunged Thursday, continuing steep losses seen in the previous session, as investors worry about rapidly rising interest rates and an expected slowdown in global growth.

Overnight Dow Jones industrial average futures were down by 189 points as of 2:52 a.m. ET. Futures implied the Dow will open Thursday down by 280 points. This after stocks sank Wednesday with the Dow plunging more than 800 points in its worst drop since February. The VIX (the CBOE Volatility Index), which is seen as a fear gauge for the market, also hit a high of 20.58, its highest level since April 11.

Around the world, stocks have tumbled on the back of concerns surrounding global economic growth and rising interest rates. The International Monetary Fund warned earlier this week that simmering trade tensions, such as those between the U.S. and China, could lead to a “sudden deterioration in risk sentiment, triggering a broad-based correction in global capital markets and a sharp tightening of global financial conditions.”

Meanwhile, U.S. Treasury yields have this week climbed to multi-year highs. Traditionally a sharp rise in bond yields — the cost of borrowing — is seen as negative for major cooperates and their stock prices. President Donald Trump on Wednesday once again criticized the U.S. Federal Reserve, calling the central bank “crazy” for its insistence on hiking rates. Trump also commented on the plunge in markets, calling it a “correction that we’ve been waiting for for a long time.”


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, eustance huang, ryan browne, matt clinch, getty images
Keywords: news, cnbc, companies, seen, investors, points, street, wall, dow, yields, trump, stocks, week, rates, rate, global, losses, markets, rip, shake, fears


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Area hit hard by Indonesia quake was seen as high-risk zone

Before that, Palu Bay was hit in 1968 by a very similar magnitude 7.4 quake that generated waves 10 meters (33 feet) high. Some experts theorize that the Sept. 28 quake, by itself, didn’t generate a big wave despite being shallow and near the coast. They’re convinced it was instead the area’s soft soil that served as the real catalyst for disaster. Fast-moving landslides also were launched above ground, possibly causing even more localized tsunami waves. At a news conference in Jakarta on Monday


Before that, Palu Bay was hit in 1968 by a very similar magnitude 7.4 quake that generated waves 10 meters (33 feet) high. Some experts theorize that the Sept. 28 quake, by itself, didn’t generate a big wave despite being shallow and near the coast. They’re convinced it was instead the area’s soft soil that served as the real catalyst for disaster. Fast-moving landslides also were launched above ground, possibly causing even more localized tsunami waves. At a news conference in Jakarta on Monday
Area hit hard by Indonesia quake was seen as high-risk zone Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-08  Authors: jorge silva
Keywords: news, cnbc, companies, hard, highrisk, quake, soil, tsunami, palu, areas, seen, zone, hit, earthquake, waves, indonesia, prasetya, saw, area, ground


Area hit hard by Indonesia quake was seen as high-risk zone

When the violent shaking from a massive magnitude 7.5 earthquake finally stopped, Selvi Susanti stood up and realized something strange was happening. First, she saw the ground suddenly begin to sink. Then the pavement split beneath her feet like a broken dinner plate and started to rise.

Terrified, she clung to a small sliver of asphalt and surfed a river of fast-moving mud as it swallowed entire neighborhoods, carrying her higher than coconut trees for a quarter of a mile.

“What I saw — oh my God! Houses were tumbling. They started to roll like waves. It’s like a tsunami, but the difference was they were waves of soil,” said Susanti, 38, weeping at the memory of seeing so many people simply disappear into the earth as they screamed for help. “It felt like I was in a boat, moving around. But the difference is I was not in water, but in the mud.”

Many, like Susanti in the devastated village of Petobo, had no idea they were in an area already identified by the government as a high-risk zone for the devastating geological phenomenon that causes soft ground to liquefy during earthquakes.

But Indonesian scientist Gegar Prasetya wasn’t surprised by any of the events that occurred at dusk on Sept. 28, killing nearly 2,000 people and leaving possibly thousands more missing. He had warned people for years that the area around Sulawesi island’s Palu Bay had been struck before and was due for another potential combination of factors to create a perfect storm capable of unleashing earthquakes, landslides, tsunami waves and soil liquefaction.

“I knew right away,” said Prasetya, co-founder of the Tsunami Research Center Indonesia, who had met with government officials and residents in the area to try to raise awareness about the threat. “I posted in our group, and I said, ‘It’s happened.'”

Disaster-prone Indonesia, part of the Pacific Basin’s “Ring of Fire,” is an archipelago of about 17,000 islands sitting atop numerous fault lines that have produced some of the largest and most deadly earthquakes, tsunamis and volcanic eruptions in recorded history.

Other scientists around the world wondered how this type of earthquake — on a strike-slip fault, which typically does not produce dangerous tsunamis — could generate waves that surged as high as 6 meters (20 feet).

Again, Prasetya knew.

He had published a paper nearly two decades ago highlighting six other tsunamis recorded in the Makassar Strait in the past century, predicting that a repeat event could be expected roughly every 25 years. The last one occurred in a region north of the city in 1996. Before that, Palu Bay was hit in 1968 by a very similar magnitude 7.4 quake that generated waves 10 meters (33 feet) high.

“This one complete village went to the sea,” he said of the 1968 event. “You can still see the trees from the top of the water.”

Some experts theorize that the Sept. 28 quake, by itself, didn’t generate a big wave despite being shallow and near the coast. They’re convinced it was instead the area’s soft soil that served as the real catalyst for disaster. The temblor’s long, violent shaking likely triggered one or more underwater landslides due to unstable sediment deposited on the seafloor by rivers. This disruptive movement may have created the large wall of water that raced across the open ocean until being squeezed into the long, narrow bay that surrounds Palu, forcing the wave to grow higher.

“Imagine what happens if you drop a brick in a flat pond — ripples spread in all directions,” said Robert Hall, a geologist at Royal Holloway University of London, who has studied the area. “Now drop the same size object in a bathtub. The waves can reflect off the sides, can amplify, and may get larger in the direction of the length of the bath.”

But it wasn’t just weak sediment in the ocean that gave way. Wet, sandy soil also separated and came alive through liquefaction in some areas due to the earthquake’s radical vibrations. The ground simply lost its strength and turned to mush beneath people’s feet, creating mud that acted like quicksand. People, houses, cars and streets were swallowed and covered by a thick carpet of what — just seconds earlier — had been solid earth. Fast-moving landslides also were launched above ground, possibly causing even more localized tsunami waves.

“We wouldn’t necessarily expect to get all the worst possible factors occurring together,” said Willem De Lange, a scientist from the University of Waikato in New Zealand who co-authored research on the area with Prasetya in 2001. “Unfortunately this does happen.”

Many questions remain about exactly what happened in this complex disaster. Prasetya will begin field work with the Indonesian navy this week to try to better understand what occurred under water, and a team of international experts are expected to arrive next month to carry out an assessment.

Palu’s population has exploded in many high-risk areas since the 1968 event, which killed 200 people and also turned soil to mud in places, leaving many newcomers vulnerable with no local history.

However, the central government did produce a map in 2012 identifying large swaths of Palu, a city of 380,000 people, where liquefaction could occur. The area of Petobo, for instance, was classified as having high-risk potential. The report also recommended that housing and industrial areas should best be built in areas with low liquefaction risk. It suggested mitigation efforts, including building structures with deep foundations anchored into firmer layers of earth.

Good urban planning is ultimately the key to saving lives, said Sri Hidayati, head of earthquake mitigation at the Energy Ministry’s Geology Agency, which produced the report that was shared with the provincial and district governments in Sulawesi. She said it’s her agency’s responsibility to provide the mapping, but it’s up to local authorities to “use it or not.” Calls Monday to Palu’s vice mayor and the mayor’s aid went unanswered.

“If everything in the future is planned based on this, I think maybe we will only experience a small number of casualties in case such a disaster occurs again,” she said. “Or probably no casualties at all.”

At a news conference in Jakarta on Monday, the head of the country’s disaster agency also confirmed that soft soil areas in Palu are not fit for housing.

“It is impossible to rebuild in areas with high liquefaction risk such as Petobo and Balaroa,” he said, adding that people still living there will be relocated.

Indonesia has been criticized for lifting the tsunami warning it issued for Sulawesi’s coast too soon. The earthquake knocked out power and telecommunication towers, meaning sirens didn’t wail and alerts didn’t light up mobile phones. Online video showed an unsettling scene as cars and motorbikes drove at normal speeds on a coastal road and oblivious people milled about on the beach while the large, fast-moving wave could be seen racing closer before exploding onshore.

“It’s almost impossible for a tsunami warning system to predict what we saw the other day,” said Adam Switzer, a tsunami expert at the Earth Observatory of Singapore. “The earthquake is the warning. If you’re anywhere in southeast Asia and you’re on the coast and you feel an earthquake, move inland and move to higher ground and stay there.”

But it’s also not a matter of only warning people just before something happens. Prasetya said the history and geology of Palu Bay must be considered in plans to rebuild. He said soil investigations should be carried out to determine if deep piles are needed to stabilize buildings. Local knowledge should also be considered as a cheap way to save lives, such as constructing houses out of wood with thatched roofs, instead of concrete and tile.

In Petobo, tsunami warnings would not have helped because there was no time to respond. All that remains of the village, located about 30 minutes from the center of Palu, is a muddy wasteland where only the very tips of roofs remain above ground in places. Satellite images show a heavily populated area stretching more than 100 hectares (250 acres) being devoured by what looks like a giant layer of chocolate milk. In mobile phone videos, buildings are seen sliding like pucks across a slab of ice. Some people spent hours trying to find their homes after the disaster, locating them about 2 kilometers (1.2 miles) from where they once stood.

“It felt like we were spinning in a blender,” recalled Susanti, who survived by leaping to solid ground and running after the mud flow finally slowed down. “I saw houses change position. Houses which were located at the east moved to the west and vice versa. I saw the twisted mud was shaped like dough.”

Recovering bodies from Petobo and other hard-hit areas, such as Balaroa, has been difficult because heavy equipment will sink in the soft soil and is unusable there. The government is considering turning some of these sites into mass graves, according to Wiranto, Indonesia’s security minister, who uses one name.

“It is already a ghost village. I will not go back there even if they pay me 1 billion rupiah ($65,800),” said Erli Yati, 32, who also survived what’s been dubbed a “land tsunami” by some in Petobo.

She had no idea about the previous disasters there or that the ground could come alive as it did.

“I will not step back to that place again,” she added. “That was the worse experience I have ever had.”

Prasetya commended the idea of closing off liquefaction areas and said mitigation — whether it’s creating and enforcing proper building codes in at-risk zones or relocating people to safer places — should be implemented before the next disaster.

“How many souls need to be sacrificed until the government knows mitigation is important?” he asked, adding he’s been sounding alarms since the massive 2004 earthquake-spawned tsunami off Sumatra island killed 230,000 people in a dozen nations, more than half of them in Indonesia. “Everything is back to business as usual.”


Company: cnbc, Activity: cnbc, Date: 2018-10-08  Authors: jorge silva
Keywords: news, cnbc, companies, hard, highrisk, quake, soil, tsunami, palu, areas, seen, zone, hit, earthquake, waves, indonesia, prasetya, saw, area, ground


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

South Korea’s economy is slowing. Its leader still wants to spend millions on Pyongyang

As South Korea’s economy stumbles, the government is looking to spend hundreds of millions on economic and cultural projects with its northern neighbor. Those commitments were first mentioned in a declaration signed by Moon and North Korean leader Kim Jong Un back in April. The multimillion-dollar proposals come as some grow increasingly concerned about South Korea’s slowing economy. South Korea’s full-year gross domestic product is seen at 2.9 percent this year, compared to 3.1 percent last yea


As South Korea’s economy stumbles, the government is looking to spend hundreds of millions on economic and cultural projects with its northern neighbor. Those commitments were first mentioned in a declaration signed by Moon and North Korean leader Kim Jong Un back in April. The multimillion-dollar proposals come as some grow increasingly concerned about South Korea’s slowing economy. South Korea’s full-year gross domestic product is seen at 2.9 percent this year, compared to 3.1 percent last yea
South Korea’s economy is slowing. Its leader still wants to spend millions on Pyongyang Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-04  Authors: nyshka chandran, pyeongyang press corps
Keywords: news, cnbc, companies, north, leader, office, seen, economy, pyongyang, korea, wants, moon, spending, south, survey, koreas, millions, slowing, spend


South Korea's economy is slowing. Its leader still wants to spend millions on Pyongyang

As South Korea’s economy stumbles, the government is looking to spend hundreds of millions on economic and cultural projects with its northern neighbor. The initiatives are seen as long-term investments to peace, but they threaten to inflate Seoul’s debt load and may become a burden if inter-Korea relations hit a road-bump, experts warned.

In a September bill to parliament, South Korean President Moon Jae-in’s government proposed spending $419 million for various North Korea-related ventures that include family reunions, a joint liaison office as well as sporting exchanges. Those commitments were first mentioned in a declaration signed by Moon and North Korean leader Kim Jong Un back in April.

The $419 million figure refers only to 2019 expenditures, and opposition politicians have accused the government of deliberately concealing long-term costs for fear of public backlash. That’s led to a delay in ratifying the bill.

The multimillion-dollar proposals come as some grow increasingly concerned about South Korea’s slowing economy. While the majority of South Koreans say they want peace with Pyongyang, many believe the domestic state of affairs should be a priority for public funds, especially at a time of weak growth.

South Korea’s full-year gross domestic product is seen at 2.9 percent this year, compared to 3.1 percent last year. Meanwhile, the pace of job creation hit its weakest level in nine years after Moon raised minimum wages and cut working hours — moves that have made it difficult for small and medium-sized enterprises to hire new workers.

Public discontent with the economy actually pushed Moon’s approval rating to 49 percent, the lowest level since he entered office last May, according to a Gallup Korea survey on Sept. 7. The leader’s rating ticked up to 50 percent, however, in Gallup’s following survey a week later.

“Regardless of diplomacy, spending tens of billions of dollars in North Korea at a time when many South Koreans are unhappy with their own economy could be tough to sell politically,” said Kyle Ferrier, director of academic affairs and research at the Korea Economic Institute of America.

The Blue House, the office of South Korea’s president, didn’t respond to CNBC’s request for comment.


Company: cnbc, Activity: cnbc, Date: 2018-10-04  Authors: nyshka chandran, pyeongyang press corps
Keywords: news, cnbc, companies, north, leader, office, seen, economy, pyongyang, korea, wants, moon, spending, south, survey, koreas, millions, slowing, spend


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Beating China with new tech best US defense: AT&T Communications CEO

AT&T Communications CEO: Haven’t seen anything as game-changing as 5G in my career 4 Hours Ago | 04:15Beating China to the market with new technology is the best safeguard for the United States, both economically and for national security, AT&T Communications CEO John Donovan told CNBC on Thursday. Staying ahead of the Chinese is going to be “the best defense we can have,” he added. According to the Commission on the Theft of American Intellectual Property, China’s purported IP theft costs the U


AT&T Communications CEO: Haven’t seen anything as game-changing as 5G in my career 4 Hours Ago | 04:15Beating China to the market with new technology is the best safeguard for the United States, both economically and for national security, AT&T Communications CEO John Donovan told CNBC on Thursday. Staying ahead of the Chinese is going to be “the best defense we can have,” he added. According to the Commission on the Theft of American Intellectual Property, China’s purported IP theft costs the U
Beating China with new tech best US defense: AT&T Communications CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-04  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, beating, defense, 5g, best, china, tech, theft, donovan, seen, security, att, going, technology, report, communications, ceo


Beating China with new tech best US defense: AT&T Communications CEO

AT&T Communications CEO: Haven’t seen anything as game-changing as 5G in my career 4 Hours Ago | 04:15

Beating China to the market with new technology is the best safeguard for the United States, both economically and for national security, AT&T Communications CEO John Donovan told CNBC on Thursday.

“It’s really important to a country’s economy and to its security that when there’s a new technology coming out, that you be first,” Donovan said in a “Squawk Box” interview. Staying ahead of the Chinese is going to be “the best defense we can have,” he added.

Donovan — who runs the bulk of AT&T’s global telecom business, which includes operations in China — spoke at a time when tensions between the U.S. and the world’s second largest economy are on the boil.

In a bombshell report Thursday, Bloomberg BusinessWeek said data center equipment run by Amazon Web Services and Apple may have been subject to surveillance from China via a microchip inserted during the manufacturing process of the hardware. Apple and Amazon have disputed the report.

China is also under intense scrutiny from President Donald Trump, who used accusations of intellectual property theft by the Chinese as a core argument for tough trade restrictions on Beijing.

According to the Commission on the Theft of American Intellectual Property, China’s purported IP theft costs the U.S. $225 billion to $600 billion each year.

Meanwhile, AT&T is competing with Verizon in a big push toward 5G next generation wireless technology.

“This one is different, you know, in my 35-year career, I haven’t seen one that was this game changing,” Donovan said. “Networking in the 5G world is going to move to real time. It’s going to fundamentally change architectures.”

— CNBC’s Kate Fazzini contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-10-04  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, beating, defense, 5g, best, china, tech, theft, donovan, seen, security, att, going, technology, report, communications, ceo


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Euro falls below $1.16 as Italy’s budget seen as defying EU

The euro slipped below $1.16 on Friday for the first time in two weeks after Italy’s government agreed a budget seen by some investors as defying Brussels. Inflation in the 19 countries sharing the euro rose this month but measures of underlying price pressures dipped unexpectedly, data showed on Friday. Despite a widening in Italian swap spreads, the Italian budget debate remains a headwind for the euro rather than a force actively dragging it down, analysts said. Versus the Swiss franc it fell


The euro slipped below $1.16 on Friday for the first time in two weeks after Italy’s government agreed a budget seen by some investors as defying Brussels. Inflation in the 19 countries sharing the euro rose this month but measures of underlying price pressures dipped unexpectedly, data showed on Friday. Despite a widening in Italian swap spreads, the Italian budget debate remains a headwind for the euro rather than a force actively dragging it down, analysts said. Versus the Swiss franc it fell
Euro falls below $1.16 as Italy’s budget seen as defying EU Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: dan kitwood, getty images
Keywords: news, cnbc, companies, investors, seen, fell, 116, franc, swiss, euro, defying, italian, budget, rose, dollar, italy, italys, falls, eu


Euro falls below $1.16 as Italy's budget seen as defying EU

The euro slipped below $1.16 on Friday for the first time in two weeks after Italy’s government agreed a budget seen by some investors as defying Brussels.

Political wrangling over the budget in heavily indebted Italy has put a lid on a recent revival in the euro’s fortunes against the dollar.

The single currency recorded its biggest one-day decline for nearly two months on Thursday as the battle over fiscal policy intensified in the euro zone’s third largest economy.

Financial markets are nervous that the Italian government’s spending plans will boost Italy’s debt, which is already the second highest in the euro zone as a share of economic output after Greece, near 131 percent of gross domestic product (GDP).

The government is targeting a budget deficit at 2.4 percent of GDP, inside the 3 percent ceiling prescribed by EU rules.

Some traders were caught off guard by the euro’s move.

“It does come as a surprise that the euro exchange rates suddenly react in such a pronounced manner to fiscal factors,” Commerzbank FX strategist Ulrich Leuchtmann said.

“But market participants are now hoping for a normalisation of European Central Bank interest rates … and that is why the euro is generally still quite strong,” he said.

ECB chief Mario Draghi said this week he sees a vigorous pick-up in euro zone inflation.

Inflation in the 19 countries sharing the euro rose this month but measures of underlying price pressures dipped unexpectedly, data showed on Friday.

That is likely to fuel concern at the ECB as it prepares to curb stimulus.

Despite a widening in Italian swap spreads, the Italian budget debate remains a headwind for the euro rather than a force actively dragging it down, analysts said.

“It looks like we are going to have a bit of scrap between Italy and the [EU] Commission. For a long time we’ve had relative calm and now Italy is again raising the spectre of differences within the European project,” Aviva Investors senior economist Stewart Robertson said.

The euro on Friday fell half a percent to $1.1582 after slumping almost 0.9 percent overnight. Versus the Swiss franc it fell 0.8 percent to trade at 1.1281. The dollar remained buoyant.

It advanced against the British pound and the Swiss franc, and rose to a nine-month high versus the Japanese yen after data on Thursday reinforced upbeat views about the U.S. economy and a recent Federal Reserve hike.

The dollar index against a basket of six major currencies rose to 95.239, its highest since Sept. 12. The index has gained 1 percent this week.

“The broad rally by the dollar has also been helped by seasonal factors, as it has coincided with U.S. investors bringing funds back home for the month’s end,” Daiwa Securities senior forex strategist Yukio Ishizuki said.

The pound fell 0.2 percent to trade at $1.3035, an 11-day low, after data showed that British companies had cut their investment in the second quarter of 2018.

The Swiss franc stayed near a one-month low of 0.9782 per dollar, a level brushed overnight when it tumbled more than 1 percent.

The Australian dollar edged up 0.1 percent to $0.7212 after losing 0.7 percent on Thursday.


Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: dan kitwood, getty images
Keywords: news, cnbc, companies, investors, seen, fell, 116, franc, swiss, euro, defying, italian, budget, rose, dollar, italy, italys, falls, eu


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Gold prices inch up as dollar eases despite trade dispute

Spot gold had climbed 0.1 percent to $1,199.18 an ounce by 0044 GMT. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent. Asian stocks rose and U.S. Treasury yields hovered near four-month highs on Wednesday, as investors looked past the latest escalation in the U.S.-China trade conflict, seen by some market participants as less severe than expected. Previous developments in the U.S.-China trade conflict had prompted investors to buy the


Spot gold had climbed 0.1 percent to $1,199.18 an ounce by 0044 GMT. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent. Asian stocks rose and U.S. Treasury yields hovered near four-month highs on Wednesday, as investors looked past the latest escalation in the U.S.-China trade conflict, seen by some market participants as less severe than expected. Previous developments in the U.S.-China trade conflict had prompted investors to buy the
Gold prices inch up as dollar eases despite trade dispute Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-19  Authors: michele tantussi, getty images, marcio rodrigo machado, todd haselton
Keywords: news, cnbc, companies, inch, dispute, gold, despite, deal, union, seen, dollar, uschina, united, states, prices, 01, billion, eases, trade


Gold prices inch up as dollar eases despite trade dispute

Spot gold had climbed 0.1 percent to $1,199.18 an ounce by 0044 GMT.

U.S. gold futures were up 0.1 percent at $1,203.70 an ounce.

The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent.

China and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion of U.S. products to its import tariff list in retaliation for President Donald Trump’s planned levies on $200 billion worth of Chinese goods.

Asian stocks rose and U.S. Treasury yields hovered near four-month highs on Wednesday, as investors looked past the latest escalation in the U.S.-China trade conflict, seen by some market participants as less severe than expected.

Previous developments in the U.S.-China trade conflict had prompted investors to buy the U.S. dollar in the belief that the United States has less to lose from the dispute, making dollar-priced gold more expensive for non-U.S. buyers.

The U.S. Senate voted overwhelmingly on Tuesday to pass a mammoth spending package including $675 billion for the Defense Department and a measure to keep the entire federal government open until Dec. 7, a step toward avoiding a Sept. 30 shutdown.

Bond traders are increasing bets the Federal Reserve will raise U.S. short-term interest rates into 2019 as the jobs market tightens and with inflation seen climbing above its 2 percent goal.

Business and political leaders are increasing the pressure on Canadian Prime Minister Justin Trudeau to agree on a deal to renew NAFTA and drop his insistence that no deal is better than a bad deal.

The Bank of Japan is expected to keep monetary policy steady on Wednesday and maintain its optimistic view on the economy, even as escalating global trade frictions threaten to chill growth.

Prime Minister Theresa May said Britain and the European Union were nearing a divorce deal but called on the bloc to show “goodwill and determination” to avoid a disorderly Brexit and secure a close future partnership.

European Union leaders will discuss how to wind up negotiations with Britain on its withdrawal from the EU when they meet in Austria on Thursday, summit chair Donald Tusk said on Tuesday.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.04 percent to 742.23 tonnes on Tuesday.

Precious metals producer Sibanye-Stillwater said on Tuesday it remained fully committed to a takeover of platinum miner Lonmin after South Africa’s competition watchdog imposed conditions on the deal.


Company: cnbc, Activity: cnbc, Date: 2018-09-19  Authors: michele tantussi, getty images, marcio rodrigo machado, todd haselton
Keywords: news, cnbc, companies, inch, dispute, gold, despite, deal, union, seen, dollar, uschina, united, states, prices, 01, billion, eases, trade


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Mohamed El-Erian isn’t concerned about a global trade war but sees another major risk for the market

Trade war will get worse before it gets better: El-Erian 4 Hours Ago | 02:17The trade war between the U.S. and China is not a major risk to the stock market, noted economist Mohamed El-Erian told CNBC on Wednesday. The destination, in my opinion, will not be global trade war,” the chief economic advisor at Allianz said on “Closing Bell.” El-Erian said it will take time for the other side to realize that the “U.S. will win this war.” “We’ve seen this with Mexico. We’ve seen this with Korea.


Trade war will get worse before it gets better: El-Erian 4 Hours Ago | 02:17The trade war between the U.S. and China is not a major risk to the stock market, noted economist Mohamed El-Erian told CNBC on Wednesday. The destination, in my opinion, will not be global trade war,” the chief economic advisor at Allianz said on “Closing Bell.” El-Erian said it will take time for the other side to realize that the “U.S. will win this war.” “We’ve seen this with Mexico. We’ve seen this with Korea.
Mohamed El-Erian isn’t concerned about a global trade war but sees another major risk for the market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-19  Authors: michelle fox
Keywords: news, cnbc, companies, isnt, elerian, economic, seen, china, war, tariffs, trade, worse, major, risk, sees, market, mohamed, global, weve


Mohamed El-Erian isn't concerned about a global trade war but sees another major risk for the market

Trade war will get worse before it gets better: El-Erian 4 Hours Ago | 02:17

The trade war between the U.S. and China is not a major risk to the stock market, noted economist Mohamed El-Erian told CNBC on Wednesday.

In fact, he doesn’t see it expanding into a full-blown, global problem.

“All this rhetoric you hear from both sides … it’s about the journey, not destination. The destination, in my opinion, will not be global trade war,” the chief economic advisor at Allianz said on “Closing Bell.”

However, “It will get worse before it gets better. It’s part of the process,” El-Erian added.

The market has largely shrugged off the tit-for-tat tariffs between the U.S. and China announced this week. On Wednesday, stocks ended higher, with the Dow Jones Industrial Average closing up 159 points.

The Trump administration’s most recent tariff announcement came on Monday in the form of a 10 percent duty on about $200 billion of Chinese goods. The tariffs will jump to 25 percent on Jan. 1.

In turn, Beijing slapped levies of between 5 percent and 10 percent on $60 billion worth of U.S. goods.

El-Erian said it will take time for the other side to realize that the “U.S. will win this war.”

“As long as the U.S. is willing to incur damage, which it is, then ultimately it makes sense for others to provide concession,” he said. “We’ve seen this with Mexico. We’ve seen this with Korea. We’re going to see it with Canada and China; we’ll see it down the road.”

Instead of trade, El-Erian sees the major risk for the market in the next six to nine months coming from the growing divergence between the U.S. and the rest of the world both in economic performance and in monetary policy.

That will put pressure on interest rate differentials and exchange rates, he explained.

“The steps taken on the tax cuts and on deregulation are going to promote economic growth for at least two to three years,” he said. “So the U.S. has a … policy-driven tailwind of growth. Japan and Europe, it’s the other way around.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2018-09-19  Authors: michelle fox
Keywords: news, cnbc, companies, isnt, elerian, economic, seen, china, war, tariffs, trade, worse, major, risk, sees, market, mohamed, global, weve


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post