A contrarian ‘buy signal’ for stocks has been triggered after waves of selling

A contrarian “buy signal” for risk assets, like equities, has been activated for the first time since January this year. Bank of America Merrill Lynch said in a research note Friday that its flagship sentiment indicator had tumbled from 2.4 to 1.3 and triggered a contrarian “buy signal” for risk assets — the first buy signal since January 3. A reading below 2 on its “bull and bear indicator” is classed as extremely bearish and causes the buy signal to flash. Meanwhile, $7.6 billion in cash left


A contrarian “buy signal” for risk assets, like equities, has been activated for the first time since January this year. Bank of America Merrill Lynch said in a research note Friday that its flagship sentiment indicator had tumbled from 2.4 to 1.3 and triggered a contrarian “buy signal” for risk assets — the first buy signal since January 3. A reading below 2 on its “bull and bear indicator” is classed as extremely bearish and causes the buy signal to flash. Meanwhile, $7.6 billion in cash left
A contrarian ‘buy signal’ for stocks has been triggered after waves of selling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: matt clinch
Keywords: news, cnbc, companies, sp, trade, merrill, billion, signal, equities, lynch, week, contrarian, selling, buy, triggered, stocks, risk, waves


A contrarian 'buy signal' for stocks has been triggered after waves of selling

A contrarian “buy signal” for risk assets, like equities, has been activated for the first time since January this year.

Bank of America Merrill Lynch said in a research note Friday that its flagship sentiment indicator had tumbled from 2.4 to 1.3 and triggered a contrarian “buy signal” for risk assets — the first buy signal since January 3.

A reading below 2 on its “bull and bear indicator” is classed as extremely bearish and causes the buy signal to flash. The bank said this week’s drop had been due to outflows in emerging market debt and equities, as well as a rapid rally in Treasury markets.

Bank of America Merrill Lynch, using fund flow data from EPFR, said another $12.4 billion of cash flowed into bond funds and $1.9 billion into gold in the week ending Wednesday. Meanwhile, $7.6 billion in cash left equities which took the year-to-date outflow total to $204 billion.

The S&P 500, which is still up 16% this year, saw some heavy bouts of selling at the end of last week as the U.S.-China trade war escalated further. President Donald Trump threatened to raise duties on $250 billion in Chinese goods to 30% from 25% and increase tariffs on another $300 billion in products to 15% from 10%, in response to Chinese retaliation. The move on Friday caused the S&P 500 to shed 2.6% for the session.

But softer words from both sides has already meant investors are shifting back to stocks since Wednesday. The U.S. benchmark rose 1.3% Thursday after Beijing said it wished to resolve its protracted trade dispute with Washington with a “calm” attitude.


Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: matt clinch
Keywords: news, cnbc, companies, sp, trade, merrill, billion, signal, equities, lynch, week, contrarian, selling, buy, triggered, stocks, risk, waves


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The chip industry is facing ‘major uncertainty’ as global tensions rise

The semiconductor industry has been in focus during the U.S.-China trade war. The semiconductor industry is facing a “profound” threat from geopolitics, according to the president of industry association SEMI China, Lung Chu. He said the technology control as well as export restrictions on Chinese tech giant Huawei “could have a more profound impact to the industry, fundamentally changing even the global supply chain.” In May, Washington placed Huawei on a blacklist that prohibits American firms


The semiconductor industry has been in focus during the U.S.-China trade war. The semiconductor industry is facing a “profound” threat from geopolitics, according to the president of industry association SEMI China, Lung Chu. He said the technology control as well as export restrictions on Chinese tech giant Huawei “could have a more profound impact to the industry, fundamentally changing even the global supply chain.” In May, Washington placed Huawei on a blacklist that prohibits American firms
The chip industry is facing ‘major uncertainty’ as global tensions rise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-29  Authors: eustance huang
Keywords: news, cnbc, companies, chip, trade, tensions, worsen, rise, global, semiconductor, profound, major, uncertainty, huawei, chinese, china, industry, giant, facing, selling


The chip industry is facing 'major uncertainty' as global tensions rise

Integrated circuits on a circuit board. The semiconductor industry has been in focus during the U.S.-China trade war.

The semiconductor industry is facing a “profound” threat from geopolitics, according to the president of industry association SEMI China, Lung Chu.

The sector is already seeing a slowdown in the midst of challenges such as inventory issues, slowing demand for smart devices and falling memory chip prices. Now, the tensions between the U.S. and China threaten to worsen the situation.

“The geopolitical risk is a major uncertainty,” Chu told CNBC’s “Street Signs” on Thursday.

He said the technology control as well as export restrictions on Chinese tech giant Huawei “could have a more profound impact to the industry, fundamentally changing even the global supply chain.”

The U.S. and China have been locked in a trade war for more than a year now.

In May, Washington placed Huawei on a blacklist that prohibits American firms from doing selling parts to the Chinese telecommunications giant without permission. Shortly after, the U.S. offered Huawei a 90-day reprieve and allowed U.S. businesses to continue selling limited products to the Chinese telecom. That deadline was extended by another 90 days in August.


Company: cnbc, Activity: cnbc, Date: 2019-08-29  Authors: eustance huang
Keywords: news, cnbc, companies, chip, trade, tensions, worsen, rise, global, semiconductor, profound, major, uncertainty, huawei, chinese, china, industry, giant, facing, selling


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Tesla starts selling its own car insurance in California

Tesla on Wednesday announced that it is now offering Tesla Insurance to customers in California. Tesla Insurance is only available in California to start, but the company said it will “expand to additional U.S. states in the future.” Tesla Insurance can be canceled at any time, Tesla said. CEO Elon Musk told shareholders in an earnings call in April that Tesla would be launching its own auto insurance product, likely by the end of May. The “oracle of Omaha,” predicted that the Tesla would strugg


Tesla on Wednesday announced that it is now offering Tesla Insurance to customers in California. Tesla Insurance is only available in California to start, but the company said it will “expand to additional U.S. states in the future.” Tesla Insurance can be canceled at any time, Tesla said. CEO Elon Musk told shareholders in an earnings call in April that Tesla would be launching its own auto insurance product, likely by the end of May. The “oracle of Omaha,” predicted that the Tesla would strugg
Tesla starts selling its own car insurance in California Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: todd haselton lora kolodny, todd haselton, lora kolodny
Keywords: news, cnbc, companies, starts, california, auto, success, told, tesla, model, vehicle, shareholders, quote, car, insurance, musk, selling


Tesla starts selling its own car insurance in California

SpaceX owner and Tesla CEO Elon Musk gestures during a conversation at the E3 gaming convention in Los Angeles, June 13, 2019.

Tesla on Wednesday announced that it is now offering Tesla Insurance to customers in California.

The company said its offering may be as much as 30% less than other insurance plans, although it did not provide specific costs.

Tesla Insurance is only available in California to start, but the company said it will “expand to additional U.S. states in the future.” Tesla customers in California can get a quote in as little as a minute, and those who have already ordered cars can request a quote with their vehicle identification number.

Tesla Insurance can be canceled at any time, Tesla said.

CEO Elon Musk told shareholders in an earnings call in April that Tesla would be launching its own auto insurance product, likely by the end of May.

After Musk announced those plans, Warren Buffett criticized the strategy for Tesla. The “oracle of Omaha,” predicted that the Tesla would struggle as it ventures into auto insurance, a field in which Berkshire Hathaway thrives.

“It’s not an easy business,” Buffett told shareholders at the Berkshire Hathaway annual meeting. “The success of the auto companies getting into the insurance business is probably as likely as the success of the insurance companies getting into the auto business.”

As Automotive News previously reported, “While auto insurance rates vary greatly and depend on factors including age, location and driving history, Teslas have generally been more expensive to insure than competing vehicles because of their technology and parts costs.”

Largely owing to the high costs of repairing a Tesla after a collision, ValuePenguin estimates the average cost of insuring a Tesla vehicle in the US ranges from $1,913 per year for a Model 3, the company’s most affordable model, to $2,963 per year for a Model S 90 D, its highest-end car.

Follow @CNBCtech on Twitter for the latest tech product news.


Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: todd haselton lora kolodny, todd haselton, lora kolodny
Keywords: news, cnbc, companies, starts, california, auto, success, told, tesla, model, vehicle, shareholders, quote, car, insurance, musk, selling


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Dollar General and Dollar Tree fined $1.2 million for selling expired drugs, NY AG says

Retail discounters Dollar General and Dollar Tree will pay $1.2 million in fines for selling expired products, the New York attorney general announced Monday. The investigation also called out Family Dollar, which was acquired by Dollar Tree in 2015. All the chains sold expired over-the-counter drugs, while Dollar General was fined for selling motor oil unsuitable for modern cars; Dollar Tree also violated New York’s bottle deposit law, law enforcement officials said. Dollar General and Dollar T


Retail discounters Dollar General and Dollar Tree will pay $1.2 million in fines for selling expired products, the New York attorney general announced Monday. The investigation also called out Family Dollar, which was acquired by Dollar Tree in 2015. All the chains sold expired over-the-counter drugs, while Dollar General was fined for selling motor oil unsuitable for modern cars; Dollar Tree also violated New York’s bottle deposit law, law enforcement officials said. Dollar General and Dollar T
Dollar General and Dollar Tree fined $1.2 million for selling expired drugs, NY AG says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-26  Authors: jasmine wu
Keywords: news, cnbc, companies, selling, ag, fined, expired, drugs, pay, tree, york, oil, dollar, ny, general, overthecounter, million, sold, products


Dollar General and Dollar Tree fined $1.2 million for selling expired drugs, NY AG says

Retail discounters Dollar General and Dollar Tree will pay $1.2 million in fines for selling expired products, the New York attorney general announced Monday.

The investigation also called out Family Dollar, which was acquired by Dollar Tree in 2015. All the chains sold expired over-the-counter drugs, while Dollar General was fined for selling motor oil unsuitable for modern cars; Dollar Tree also violated New York’s bottle deposit law, law enforcement officials said.

Dollar General discontinued the sale of obsolete motor oil during the course of the investigation and has agreed to pay $1.1 million to the state, Attorney General Letitia James said.

“It’s a tough pill for New Yorkers to swallow that the over-the-counter drugs they were buying may have been expired,” James said in a statement. “New York consumers have a right to expect that products on store shelves are safe, fresh and suitable for their advertised use. These settlements will ensure that Dollar General, Dollar Tree, and Family Dollar will not only pay both a substantial fine and damages, but, more importantly, update their business practices to comply with the law so that no expired over-the-counter drugs are sold to a New York consumer again.”

Investigations beginning in March 2016 found that some over-the-counter drugs were months beyond expiration dates, authorities said. They said motor oil not suitable for most engines built after 1930 were also sold at Dollar General stores. Investigators said they were told at Dollar Tree and Family Dollar stores that bottle returns were only accepted with proof of purchase, in violation of a New York law.

“Dollar General is committed to providing its customers with high-quality, reliable products, which includes taking the necessary steps to ensure that products on our shelves are within their respective sell-by dates,” the company said in a statement. “We took immediate action to address the situation, and we continue to work with our store teams to ensure that the Company’s expectations regarding expired products are clearly communicated, understood and implemented.”

“We continue to believe that the DG-branded motor oil products at issue meet both the Company’s standards for quality and value, but also all applicable federal and state labeling, marketing and placement requirements where they are sold,” Dollar General said.

Dollar Tree, which will pay $100,000, declined to comment.

Dollar General and Dollar Tree will report fiscal second-quarter earnings before the opening bell Thursday. Dollar General is expected to report revenue of $6.89 billion and earnings of $1.57 a share, according to a survey of analysts by Refinitiv. Dollar Tree is estimated to tallied $5.72 billion in revenue on earnings of 81 cents a share.

Dollar General, which is valued at $36 billion, gained 1.6% on Monday. Dollar Tree rose less than a percent, bringing it to a market cap of nearly $23 billion.


Company: cnbc, Activity: cnbc, Date: 2019-08-26  Authors: jasmine wu
Keywords: news, cnbc, companies, selling, ag, fined, expired, drugs, pay, tree, york, oil, dollar, ny, general, overthecounter, million, sold, products


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‘Greenland belongs to Greenland’: Denmark says selling world’s largest island to US is absurd

Greenland is not for sale and the idea of selling it to the United States is absurd, Denmark’s prime minister said on Sunday after an economic adviser to President Donald Trump confirmed the U.S. interest in buying the world’s largest island. Greenland belongs to Greenland. I strongly hope that this is not meant seriously,” Danish Prime Minister Mette Frederiksen told the newspaper Sermitsiaq during a visit to Greenland. White House economic adviser Larry Kudlow on Sunday confirmed media reports


Greenland is not for sale and the idea of selling it to the United States is absurd, Denmark’s prime minister said on Sunday after an economic adviser to President Donald Trump confirmed the U.S. interest in buying the world’s largest island. Greenland belongs to Greenland. I strongly hope that this is not meant seriously,” Danish Prime Minister Mette Frederiksen told the newspaper Sermitsiaq during a visit to Greenland. White House economic adviser Larry Kudlow on Sunday confirmed media reports
‘Greenland belongs to Greenland’: Denmark says selling world’s largest island to US is absurd Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-18
Keywords: news, cnbc, companies, denmark, trump, kudlow, greenland, president, belongs, selling, prime, minister, visit, worlds, largest, buying, told, island, danish, absurd


'Greenland belongs to Greenland': Denmark says selling world's largest island to US is absurd

Greenland is not for sale and the idea of selling it to the United States is absurd, Denmark’s prime minister said on Sunday after an economic adviser to President Donald Trump confirmed the U.S. interest in buying the world’s largest island.

“Greenland is not for sale. Greenland is not Danish. Greenland belongs to Greenland. I strongly hope that this is not meant seriously,” Danish Prime Minister Mette Frederiksen told the newspaper Sermitsiaq during a visit to Greenland.

Trump’s is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings with Frederiksen and Prime Minister Kim Kielsen of Greenland, an autonomous Danish territory.

White House economic adviser Larry Kudlow on Sunday confirmed media reports earlier in the week that Trump had privately discussed with his advisers the idea of buying Greenland.

“I don’t want to predict an outcome, I’m just saying the president, who knows a thing or two about buying real estate, wants to take a look at a Greenland purchase,” Kudlow told Fox News.

Kudlow said the situation was “developing” and noted that U.S. President Harry Truman also had wanted to buy Greenland.

“And Denmark owns Greenland, Denmark is an ally, Greenland is a strategic place, up there. And they’ve got a lot of valuable minerals,” Kudlow added.


Company: cnbc, Activity: cnbc, Date: 2019-08-18
Keywords: news, cnbc, companies, denmark, trump, kudlow, greenland, president, belongs, selling, prime, minister, visit, worlds, largest, buying, told, island, danish, absurd


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Weight Watchers under fire for selling diets to children as young as age eight

Kurbo app Scott Mlyn | CNBCDo your homework! Weight Watchers, which now calls itself WW, this week introduced a new app called Kurbo by WW to “help kids and teens ages 8-17 reach a healthier weight.” WW last year acquired Kurbo, a digital health start-up whose system is based on Stanford University’s pediatric obesity program. Your profile page charts your body mass index (BMI), a formula based on your weight and height. Kurbo’s program does not require kids to track calories or fat, but “they’r


Kurbo app Scott Mlyn | CNBCDo your homework! Weight Watchers, which now calls itself WW, this week introduced a new app called Kurbo by WW to “help kids and teens ages 8-17 reach a healthier weight.” WW last year acquired Kurbo, a digital health start-up whose system is based on Stanford University’s pediatric obesity program. Your profile page charts your body mass index (BMI), a formula based on your weight and height. Kurbo’s program does not require kids to track calories or fat, but “they’r
Weight Watchers under fire for selling diets to children as young as age eight Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-17  Authors: angelica lavito
Keywords: news, cnbc, companies, young, food, goal, foods, app, parents, ww, kids, kurbo, saying, watchers, selling, children, diets, age, weight


Weight Watchers under fire for selling diets to children as young as age eight

Kurbo app Scott Mlyn | CNBC

Do your homework! Clean your room! Count your Weight Watchers points? Weight Watchers, which now calls itself WW, this week introduced a new app called Kurbo by WW to “help kids and teens ages 8-17 reach a healthier weight.” WW last year acquired Kurbo, a digital health start-up whose system is based on Stanford University’s pediatric obesity program. Adolescents track their food in Kurbo’s free app. A green, yellow, or red light grades what and how much of a food they eat. They can also consult with a digital coach for a fee, starting at $69 per month. “This is a scientifically proven way to get kids to eat healthier and move more, so we’re excited to get it into as many hands as possible,” WW’s Chief Scientific Officer Gary Foster told CNBC. Some WW loyalists applaud the move, saying the company has transformed their lives and hope it can transform children’s lives, too. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time. “I really do appreciate the idea that parents are signing up their children in ways that are largely well-intended, but what we know is that preoccupation with food and righteousness around food does not create healthy relationships with food,” said Anna Sweeney, dietitian and owner of Whole Life Nutrition Counseling in Concord, Massachusetts. “It does not leave people feeling good or competent in eating.”

Kurbo: lifestyle or diet?

When you sign up for Kurbo, you enter your name, height, weight and gender. You then choose a goal: eat healthier, lose weight, make parents happy, get stronger and fitter, have more energy, boost my confidence or feel better in my clothes. Abby Langer, a dietitian who owns her own practice in Toronto, Canada, said she wanted to “barf” when she heard “make parents happy” was an option. Foster said Kurbo is meant to be a “family-based approach” and that parents should not single out one child. Instead, he said parents need to set the example and involve the entire family. “Kids who are overweight know they’re overweight and already feel bad about it,” Langer said. “Giving this app to a kid is like saying there’s something wrong with you.” Once you select a goal, you rank how important the goal is to you on a scale of 0 “not important” to ten “super important” and how confident you are that you can reach your goal from 0 “not confident” to to “super confident.” Your profile page charts your body mass index (BMI), a formula based on your weight and height. You can check how many green, yellow and red foods you’ve eaten during the week. While it’s not quite counting points, it’s not that far from it. Foster dismisses the idea that Kurbo is a diet, which he defines as a program like keto or paleo that labels certain foods as bad and encourages people to avoid them. Diets, he said, lead to short-term behavior change, whereas WW focuses on establishing healthy patterns. Linda Tucker, a food and body image coach, thinks the light system is “problematic” because it “loses nuance.” She understands the intention to make it simple. Kurbo’s program does not require kids to track calories or fat, but “they’re still saying these foods are better than these foods without any context.” “It’s not realistic, and it’s not a healthy way to teach anyone about food, especially children,” said Tucker, who owns her own practice in Portland, Oregon.

Helping or hurting


Company: cnbc, Activity: cnbc, Date: 2019-08-17  Authors: angelica lavito
Keywords: news, cnbc, companies, young, food, goal, foods, app, parents, ww, kids, kurbo, saying, watchers, selling, children, diets, age, weight


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Verizon reportedly selling Tumblr to WordPress owner for nominal amount

Verizon reportedly selling Tumblr to Wordpress owner for nominal amount12:04 PM ET Tue, 13 Aug 2019CNBC’s “Squawk on the Street” crew discuss Verizon’s sale of Tumblr to Wordpress parent company Automattic.


Verizon reportedly selling Tumblr to WordPress owner for nominal amount12:04 PM ET Tue, 13 Aug 2019CNBC’s “Squawk on the Street” crew discuss Verizon’s sale of Tumblr to WordPress parent company Automattic.
Verizon reportedly selling Tumblr to WordPress owner for nominal amount Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: karina frayter
Keywords: news, cnbc, companies, squawk, street, selling, reportedly, verizons, sale, tumblr, nominal, verizon, owner, parent, wordpress


Verizon reportedly selling Tumblr to WordPress owner for nominal amount

Verizon reportedly selling Tumblr to WordPress owner for nominal amount

12:04 PM ET Tue, 13 Aug 2019

CNBC’s “Squawk on the Street” crew discuss Verizon’s sale of Tumblr to WordPress parent company Automattic.


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: karina frayter
Keywords: news, cnbc, companies, squawk, street, selling, reportedly, verizons, sale, tumblr, nominal, verizon, owner, parent, wordpress


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Big Tech stocks recovering after brutal start to the week

The market has further to fall before the selling subsides, chart… Experts point out that while the market has dropped sharply, it still has a long way to go before a sustainable bottom can be reached. Marketsread more


The market has further to fall before the selling subsides, chart… Experts point out that while the market has dropped sharply, it still has a long way to go before a sustainable bottom can be reached. Marketsread more
Big Tech stocks recovering after brutal start to the week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: annie palmer
Keywords: news, cnbc, companies, subsides, recovering, big, tech, selling, market, sustainable, sharply, stocks, reachedmarketsread, long, fall, way, week, point, brutal, start


Big Tech stocks recovering after brutal start to the week

The market has further to fall before the selling subsides, chart…

Experts point out that while the market has dropped sharply, it still has a long way to go before a sustainable bottom can be reached.

Markets

read more


Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: annie palmer
Keywords: news, cnbc, companies, subsides, recovering, big, tech, selling, market, sustainable, sharply, stocks, reachedmarketsread, long, fall, way, week, point, brutal, start


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10-year yield hits November 2016 low as Trump stokes trade fears

The market has further to fall before the selling subsides, chart… Experts point out that while the market has dropped sharply, it still has a long way to go before a sustainable bottom can be reached. Marketsread more


The market has further to fall before the selling subsides, chart… Experts point out that while the market has dropped sharply, it still has a long way to go before a sustainable bottom can be reached. Marketsread more
10-year yield hits November 2016 low as Trump stokes trade fears Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: fred imbert silvia amaro, fred imbert, silvia amaro
Keywords: news, cnbc, companies, trade, fears, trump, subsides, market, sustainable, sharply, low, stokes, hits, 2016, reachedmarketsread, long, fall, yield, 10year, point, way, selling


10-year yield hits November 2016 low as Trump stokes trade fears

The market has further to fall before the selling subsides, chart…

Experts point out that while the market has dropped sharply, it still has a long way to go before a sustainable bottom can be reached.

Markets

read more


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: fred imbert silvia amaro, fred imbert, silvia amaro
Keywords: news, cnbc, companies, trade, fears, trump, subsides, market, sustainable, sharply, low, stokes, hits, 2016, reachedmarketsread, long, fall, yield, 10year, point, way, selling


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Intel says it’s been selling products to Huawei and has applied for licenses to sell more

Intel has applied for licenses to sell some of its products to Huawei following the blacklisting of the Chinese technology giant and a subsequent easing of restrictions on the firm. Entity List, which restricts American firms from selling parts to Huawei. The Chinese firm relies on components from several American companies for products from laptops to smartphones. Bob Swan, CEO of Intel, told CNBC Wednesday that his company had been selling some products to Huawei in the second quarter after de


Intel has applied for licenses to sell some of its products to Huawei following the blacklisting of the Chinese technology giant and a subsequent easing of restrictions on the firm. Entity List, which restricts American firms from selling parts to Huawei. The Chinese firm relies on components from several American companies for products from laptops to smartphones. Bob Swan, CEO of Intel, told CNBC Wednesday that his company had been selling some products to Huawei in the second quarter after de
Intel says it’s been selling products to Huawei and has applied for licenses to sell more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: arjun kharpal
Keywords: news, cnbc, companies, trumps, selling, huawei, intel, products, licenses, chinese, applied, american, companies, sell, firms


Intel says it's been selling products to Huawei and has applied for licenses to sell more

Intel has applied for licenses to sell some of its products to Huawei following the blacklisting of the Chinese technology giant and a subsequent easing of restrictions on the firm.

Earlier this year, Huawei was placed on the so-called U.S. Entity List, which restricts American firms from selling parts to Huawei. The Chinese firm relies on components from several American companies for products from laptops to smartphones.

President Donald Trump’s administration later said that U.S. firms could sell to Huawei in instances where there are no national security threats.

Bob Swan, CEO of Intel, told CNBC Wednesday that his company had been selling some products to Huawei in the second quarter after determining what products were “within the rules of the law.”

With the latest reprieve, companies must apply for a license to sell to Huawei, and Intel has done that.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: arjun kharpal
Keywords: news, cnbc, companies, trumps, selling, huawei, intel, products, licenses, chinese, applied, american, companies, sell, firms


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