The effect of geopolitics on global growth worries me most, WEF president says

The impact of tumultuous geopolitical affairs on global growth is one of the biggest concerns for the president of the World Economic Forum (WEF). Speaking to CNBC on the eve of this year’s forum in Davos, Switzerland, WEF President Borge Brende said geopolitical conflicts could damage global growth. “There are many things that concern me but I would say that those geopolitical conflicts can, if not handled the right way, can have a negative impact on growth,” he told CNBC’s Hadley Gamble on Sun


The impact of tumultuous geopolitical affairs on global growth is one of the biggest concerns for the president of the World Economic Forum (WEF). Speaking to CNBC on the eve of this year’s forum in Davos, Switzerland, WEF President Borge Brende said geopolitical conflicts could damage global growth. “There are many things that concern me but I would say that those geopolitical conflicts can, if not handled the right way, can have a negative impact on growth,” he told CNBC’s Hadley Gamble on Sun
The effect of geopolitics on global growth worries me most, WEF president says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: holly ellyatt, spencer platt, getty images
Keywords: news, cnbc, companies, president, growth, world, forum, geopolitical, geopolitics, effect, jobs, wef, global, negative, worries, impact, conflicts


The effect of geopolitics on global growth worries me most, WEF president says

The impact of tumultuous geopolitical affairs on global growth is one of the biggest concerns for the president of the World Economic Forum (WEF).

Speaking to CNBC on the eve of this year’s forum in Davos, Switzerland, WEF President Borge Brende said geopolitical conflicts could damage global growth.

“There are many things that concern me but I would say that those geopolitical conflicts can, if not handled the right way, can have a negative impact on growth,” he told CNBC’s Hadley Gamble on Sunday.

“We’re already seeing a slowing of global growth with the negative impact that will have on a lot of people around the world, also when it comes to creating jobs. We’re not out of the woods when it comes to jobs, for example in Europe many countries are still facing 20 percent youth unemployment,” he noted.


Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: holly ellyatt, spencer platt, getty images
Keywords: news, cnbc, companies, president, growth, world, forum, geopolitical, geopolitics, effect, jobs, wef, global, negative, worries, impact, conflicts


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CVS, Walmart reach an agreement on a pharmacy contract after impasse

He noted that in 2012 when Walgreens Boots Alliance was shut out of network in a pricing dispute it quickly lost market share. “Consumers will largely move wherever their insurance is accepted, and so Walmart would have likely lost out on the vast majority of these (prescriptions),” Muken said. It could have made its PBM unit’s contract renewals with some large employers and smaller health insurers more difficult. Terms of the newly renegotiated rate deal were not disclosed, CVS said in a statem


He noted that in 2012 when Walgreens Boots Alliance was shut out of network in a pricing dispute it quickly lost market share. “Consumers will largely move wherever their insurance is accepted, and so Walmart would have likely lost out on the vast majority of these (prescriptions),” Muken said. It could have made its PBM unit’s contract renewals with some large employers and smaller health insurers more difficult. Terms of the newly renegotiated rate deal were not disclosed, CVS said in a statem
CVS, Walmart reach an agreement on a pharmacy contract after impasse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: bertha coombs, spencer platt, getty images
Keywords: news, cnbc, companies, likely, pbms, prescriptions, reach, pharmacy, plan, note, cvs, wrote, agreement, health, contract, walmart, impasse, walgreens


CVS, Walmart reach an agreement on a pharmacy contract after impasse

CVS wasn’t always a drugstore. Now it wants to revolutionize health care. 4:00 PM ET Tue, 11 Dec 2018 | 07:03

The hostile public dispute comes at a time when pharmacy benefit managers are driving hard bargains with drugmakers and drugstores, in order to demonstrate that they can lower costs for consumers.

“The resolution speed of today’s announcement is surprising … and likely points to the general negotiating strength that PBMs have,” wrote Evercore ISI analyst Ross Muken in a note to clients. He noted that in 2012 when Walgreens Boots Alliance was shut out of network in a pricing dispute it quickly lost market share.

“Consumers will largely move wherever their insurance is accepted, and so Walmart would have likely lost out on the vast majority of these (prescriptions),” Muken said.

But the split would not have been without risk for CVS, which is embarking on an ambitious plan to turn its pharmacies into a one-stop health-care shop for prescriptions and preventive medical care at its clinics, after closing its acquisition of health insurer Aetna. It could have made its PBM unit’s contract renewals with some large employers and smaller health insurers more difficult. CVS is one of the largest PBMs.

“Without access to Walmart’s 4,700+ pharmacy locations, we believe some (health) plan sponsors may be less willing to contract with CVS Caremark and other PBMs and plans may be more likely to include Walgreens in their networks,” wrote Leerink analyst David Larsen in a note to clients at the start of the week.

Terms of the newly renegotiated rate deal were not disclosed, CVS said in a statement that it was a multi-year agreement.

CVS shares rose more than 2 percent in trading Friday.


Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: bertha coombs, spencer platt, getty images
Keywords: news, cnbc, companies, likely, pbms, prescriptions, reach, pharmacy, plan, note, cvs, wrote, agreement, health, contract, walmart, impasse, walgreens


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Stocks making the biggest moves after hours: Netflix, American Express, Atlassian and more

Quarterly revenue missed at $4.19 billion vs. the $4.21 billion estimated by Wall Street. Netflix added 1.53 million paid subscribers in the US and 7.31 million abroad, beating Wall Street estimates. The software provider earned 25 cents per share vs. the 21 cents estimated by Wall Street. They earned $299 million in revenue, slightly beating analyst’s $288.3 million estimates. The trucking company posted $2.32 billion in revenue, slightly higher the estimated $2.30 billion.


Quarterly revenue missed at $4.19 billion vs. the $4.21 billion estimated by Wall Street. Netflix added 1.53 million paid subscribers in the US and 7.31 million abroad, beating Wall Street estimates. The software provider earned 25 cents per share vs. the 21 cents estimated by Wall Street. They earned $299 million in revenue, slightly beating analyst’s $288.3 million estimates. The trucking company posted $2.32 billion in revenue, slightly higher the estimated $2.30 billion.
Stocks making the biggest moves after hours: Netflix, American Express, Atlassian and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: maggie fitzgerald, spencer platt, getty images
Keywords: news, cnbc, companies, american, stocks, revenue, billion, share, express, slightly, making, moves, biggest, wall, street, netflix, million, cents, hours, atlassian


Stocks making the biggest moves after hours: Netflix, American Express, Atlassian and more

Check out the companies making headlines after the bell:

Shares of Netflix fell as much as 5 percent in after hours trading based on their mixed earnings released Thursday. Fourth-quarter earnings were 30 cents per share which beat analyst’s estimates by 6 cents. Quarterly revenue missed at $4.19 billion vs. the $4.21 billion estimated by Wall Street. Netflix added 1.53 million paid subscribers in the US and 7.31 million abroad, beating Wall Street estimates.

Earlier this week, Netflix shares gained 7 percent during a single session after announcing they would increase monthly subscription costs across its streaming plans.

Shares of American Express fell as much as 4 percent after the bell Thursday after missing on the top and bottom lines. The company posted $10.47 billion of revenue, slightly lower than Wall Street’s estimate of $10.56 billion. They reported $1.74 per share, which missed estimates by 6 cents.

Atlassian shares rose more than 10 percent after the bell Thursday based on better-than-expected earnings. The software provider earned 25 cents per share vs. the 21 cents estimated by Wall Street. They earned $299 million in revenue, slightly beating analyst’s $288.3 million estimates.

Shares of J.B. Hunt jumped over 6 percent after hours upon the release of its fourth quarter financial results. The trucking company posted $2.32 billion in revenue, slightly higher the estimated $2.30 billion.

Shares of Tyson Foods rose after hours following a report that the U.S. and China are in talks to reopen China’s market to American chicken exports. Companies like Tyson, Sanderson Farms, and Pilgrim’s Pride could all benefit from the hundreds of millions in annual sales they could earn with the reopened chicken market. The ban was initiated in response to the U.S. avian flu outbreak in 2015.


Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: maggie fitzgerald, spencer platt, getty images
Keywords: news, cnbc, companies, american, stocks, revenue, billion, share, express, slightly, making, moves, biggest, wall, street, netflix, million, cents, hours, atlassian


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Shutdown is starting to hurt Trump’s financial deregulation agenda

Republican lawmakers had expected many of those changes would be close to the finish line by now, but several have yet to be put to public comment. Although the three banking regulators are funded independently, lobbyists say the shutdown may derail their work on rule changes overseen jointly with the SEC and CFTC. With CFTC and SEC policy staff barred from even checking their emails, however, these types of joint projects are stalled. But those have yet to be published in the register, which is


Republican lawmakers had expected many of those changes would be close to the finish line by now, but several have yet to be put to public comment. Although the three banking regulators are funded independently, lobbyists say the shutdown may derail their work on rule changes overseen jointly with the SEC and CFTC. With CFTC and SEC policy staff barred from even checking their emails, however, these types of joint projects are stalled. But those have yet to be published in the register, which is
Shutdown is starting to hurt Trump’s financial deregulation agenda Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: spencer platt, getty images
Keywords: news, cnbc, companies, sec, starting, deregulation, federal, financial, shutdown, public, changes, hurt, comment, trumps, process, agenda, office, work, cftc


Shutdown is starting to hurt Trump's financial deregulation agenda

Of particular concern is the fate of rules being penned by regulators to implement changes, passed by the Republican Congress last May, that relaxed restraints imposed on banks after the financial crisis, said lobbyists and regulatory sources.

Republican lawmakers had expected many of those changes would be close to the finish line by now, but several have yet to be put to public comment. This step, among others, is part of a strict rule-changing process dictated by federal law that cannot be easily expedited once the government reopens.

Given many of the changes face opposition from consumer groups, lawyers say any hiccups in their implementation could expose them to litigation and delay them indefinitely.

“While there is an image of folks coming in and cutting red tape, for better or worse that is not the way our legal process works and the government shutdown really impedes that process,” said Ben Olson, a lawyer with Buckley Sandler who previously worked for several agencies including the Federal Reserve.

At the Securities and Exchange Commission (SEC)and the Commodity Futures Trading Commission (CFTC), whose budgets are set by Congress, less than a tenth of staff continue to work in areas such as law enforcement, market surveillance and investor protection while all non-emergency rule-making is suspended.

The CFTC, for example, was scheduled to agree rules that would pave the way for Intercontinental Exchange to begin trading digital currency futures in coming weeks, but that timeline is now unrealistic, according to a person familiar with the CFTC’s original plan.

With no SEC staff available to approve paperwork, initial public offerings are getting backed up, said lawyers. Brokers are also unable to get critical guidance on whether some trades are compliant, said Marlon Paz, a Washington-based lawyer who advises financial firms. “I fear there is little oversight in tumultuous times.”

Although the three banking regulators are funded independently, lobbyists say the shutdown may derail their work on rule changes overseen jointly with the SEC and CFTC. That includes the “Volcker Rule,” which imposed curbs on banks’ proprietary trading as part of the 2010 Dodd-Frank law.

U.S. and international banks have criticized the rule as too burdensome and lobbied hard for changes, but the five financial regulators are obliged to review thousands of pages of comments before taking further action. With CFTC and SEC policy staff barred from even checking their emails, however, these types of joint projects are stalled.

“They still have to review all comments, and the folks who have to review them are at home watching TV,” said Wayne Abernathy, executive vice president at trade group the American Bankers Association.

“Our worry is that the shutdown could be slowing down the process.”

A CFTC spokeswoman confirmed the agency has halted all rule-writing. An SEC spokesman said the SEC was staffing emergency functions.

Furloughs at the Office of the Federal Register, which must formally publish all steps in the rule-writing process, have also delayed other changes Congress agreed in May, public records show.

For example, days before the shutdown began on Dec. 22, the Federal Deposit Insurance Corporation (FDIC) and the Fed, alongside other agencies, unveiled two proposals to ease rules on broker deposits and community banks.

But those have yet to be published in the register, which is required to start public comment periods.

Bridget Dooling, a research professor at George Washington University, said the law allowed few shortcuts, meaning a backlog created now would likely not get cleared for months.

“Losing a month or two months or, who knows, maybe more from your productive timeline could ultimately jeopardize your ability to finish the work you set out to do in a presidential administration,” said Dooling, who previously worked in the regulatory office at the U.S. Office of Management and Budget.

Spokespeople for the FDIC and Fed declined to comment. The Office of the Federal Register was not able to respond to requests for comment due to the shutdown.


Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: spencer platt, getty images
Keywords: news, cnbc, companies, sec, starting, deregulation, federal, financial, shutdown, public, changes, hurt, comment, trumps, process, agenda, office, work, cftc


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Stocks making the biggest moves after hours: United Airlines, Snap, Apple & more

United turned in a profit of $2.41 a share for the most recent quarter, better than the $2.04 a share expected by Wall Street. The airline also gave a forecast for first-quarter earnings of $1 a share, topping analyst estimates of 84 cents a share. Snap shares fell more than 8 percent after the company announced that CFO Tim Stone is resigning to pursue other opportunities. Petrobras reported fiscal year 2018 production of 2.6 million barrels of oil and gas per day. The Brazilian energy giant pr


United turned in a profit of $2.41 a share for the most recent quarter, better than the $2.04 a share expected by Wall Street. The airline also gave a forecast for first-quarter earnings of $1 a share, topping analyst estimates of 84 cents a share. Snap shares fell more than 8 percent after the company announced that CFO Tim Stone is resigning to pursue other opportunities. Petrobras reported fiscal year 2018 production of 2.6 million barrels of oil and gas per day. The Brazilian energy giant pr
Stocks making the biggest moves after hours: United Airlines, Snap, Apple & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: michael sheetz, spencer platt, getty images
Keywords: news, cnbc, companies, company, gas, oil, airlines, report, stocks, production, million, moves, making, snap, share, shares, results, utility, biggest, apple, hours, united


Stocks making the biggest moves after hours: United Airlines, Snap, Apple & more

Check out the companies making headlines after the bell:

United Airlines shares jumped as much as 6 percent following a strong top and bottom line beat for the airline’s fourth-quarter earnings report. United turned in a profit of $2.41 a share for the most recent quarter, better than the $2.04 a share expected by Wall Street. The airline also gave a forecast for first-quarter earnings of $1 a share, topping analyst estimates of 84 cents a share.

Snap shares fell more than 8 percent after the company announced that CFO Tim Stone is resigning to pursue other opportunities. He joined the company in May. The company also said it expects fourth-quarter results to come in near the top end of its guidance. Snap is scheduled to report those results on Feb. 5.

Apple launched three smart battery cases for its latest generation of iPhones. The tech giant’s new offerings can be ordered now and Apple says they will be available to purchase in stores on Jan. 18.

PG&E Corporation shares dropped as much 8 percent, continuing to to crater after closing down more than 17.5 percent in trading Tuesday. The utility lost longtime board director Roger Kimmel, with PG&E’s stock adding to its losses of more than 80 percent over the last three months. The massive California utility is facing bankruptcy after its alleged part in helping spark a wave of historic wildfires in California.

Petrobras reported fiscal year 2018 production of 2.6 million barrels of oil and gas per day. The Brazilian energy giant projects in 2019 it will grow that total oil and natural gas production to 2.8 million barrels per day.

— CNBC’s Christine Wang contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: michael sheetz, spencer platt, getty images
Keywords: news, cnbc, companies, company, gas, oil, airlines, report, stocks, production, million, moves, making, snap, share, shares, results, utility, biggest, apple, hours, united


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Sears bankruptcy raises old questions about cost of going broke

Whether the 126-year-old retailer stays afloat or goes out of business now hinges in part on paying for the enormous bill piled up by going broke. The fate of Sears Holdings Corp highlights a harsh reality of U.S. bankruptcy: It requires armies of pricey specialists in a system driven by an outcome, not costs. On Monday, Sears will consider bids for its assets, including a last-ditch $5 billion proposal by chairman and controlling shareholder Eddie Lampert. To ensure his chances of outbidding pr


Whether the 126-year-old retailer stays afloat or goes out of business now hinges in part on paying for the enormous bill piled up by going broke. The fate of Sears Holdings Corp highlights a harsh reality of U.S. bankruptcy: It requires armies of pricey specialists in a system driven by an outcome, not costs. On Monday, Sears will consider bids for its assets, including a last-ditch $5 billion proposal by chairman and controlling shareholder Eddie Lampert. To ensure his chances of outbidding pr
Sears bankruptcy raises old questions about cost of going broke Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-13  Authors: spencer platt, getty images, scott olson, gregory bull
Keywords: news, cnbc, companies, questions, going, fees, sears, law, million, massive, bankruptcy, cost, broke, requires, old, protection, firms, case, raises


Sears bankruptcy raises old questions about cost of going broke

Sears has survived the Great Depression and world wars. Whether the 126-year-old retailer stays afloat or goes out of business now hinges in part on paying for the enormous bill piled up by going broke.

The fate of Sears Holdings Corp highlights a harsh reality of U.S. bankruptcy: It requires armies of pricey specialists in a system driven by an outcome, not costs.

On Monday, Sears will consider bids for its assets, including a last-ditch $5 billion proposal by chairman and controlling shareholder Eddie Lampert.

To ensure his chances of outbidding proposals to liquidate the chain, Lampert last week agreed to assume more than $600 million in additional liabilities that Sears has incurred since filing for bankruptcy protection last October.

Those so-called administrative claims includes taxes, and payments to vendors and the professionals advising Sears.

“The fees in a case like this will be tremendous, you’ve got people working round the clock,” said David Wander, bankruptcy attorney at Davidoff Hutcher & Citron. “A massive case requires a massive amount of legal talent.”

Sears, which also owns the Kmart discount chain, is picking up the tab for six law firms, three investment banks, two financial advisers and seven others that are providing tax, real estate advice and other services, according to court filings.

Although the final tally will not be known until the case ends, the fees mount quickly.

The law firm of Weil, Gotshal & Manges, for example, billed Sears about $5 million for the first two weeks after it filed for Chapter 11 bankruptcy protection on Oct. 15, according to court documents.

Weil did not respond to a request for comment. Sears declined to comment.

Bankruptcy veterans said the fees reflect the realities of Chapter 11, which can inflate costs: only a handful of law firms can put scores of experienced staff on a case on short notice. Corporate leaders are happy to pay top dollar when the company’s survival is on the line.


Company: cnbc, Activity: cnbc, Date: 2019-01-13  Authors: spencer platt, getty images, scott olson, gregory bull
Keywords: news, cnbc, companies, questions, going, fees, sears, law, million, massive, bankruptcy, cost, broke, requires, old, protection, firms, case, raises


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Government shutdown: TSA officers call in sick, Miami closes terminal

Miami International Airport will close one of its terminals early this weekend as double the usual number of Transportation Security Administration officers, working unpaid in the partial government shutdown, called in sick. Amid the shutdown, which began on Dec. 22 and is now the longest ever, TSA officers missed their first paycheck on Friday. The agency acknowledged that unscheduled absences of the 51,000 TSA officers have been on the rise, but said “security standards remain uncompromised at


Miami International Airport will close one of its terminals early this weekend as double the usual number of Transportation Security Administration officers, working unpaid in the partial government shutdown, called in sick. Amid the shutdown, which began on Dec. 22 and is now the longest ever, TSA officers missed their first paycheck on Friday. The agency acknowledged that unscheduled absences of the 51,000 TSA officers have been on the rise, but said “security standards remain uncompromised at
Government shutdown: TSA officers call in sick, Miami closes terminal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-12  Authors: leslie josephs, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, terminals, security, terminal, working, international, closes, scheduled, officers, shutdown, sick, tsa, airport, miami


Government shutdown: TSA officers call in sick, Miami closes terminal

Miami International Airport will close one of its terminals early this weekend as double the usual number of Transportation Security Administration officers, working unpaid in the partial government shutdown, called in sick.

The TSA workers are among the some 420,000 federal employees deemed essential who are working without pay. Amid the shutdown, which began on Dec. 22 and is now the longest ever, TSA officers missed their first paycheck on Friday.

The shifts show how the impact from the shutdown, the result of an impasse between President Donald Trump and lawmakers over funding for a barrier along the southern U.S. border, are impacting aviation. The shutdown has stalled the required federal approvals for new jets and routes, as well as certifications for new mechanics and other industry employees.

The agency acknowledged that unscheduled absences of the 51,000 TSA officers have been on the rise, but said “security standards remain uncompromised at our nation’s airports.” About 5.6 percent of officers called out sick on Saturday, up from 3.3 percent a year ago, spokesman Michael Bilello said.

The TSA considers a normal wait time on security line 30 minutes or less. At Miami International Airport, McCarren International Airport (which serves Las Vegas) and Fort Lauderdale-Hollywood International Airport, maximum wait times were 29 minutes, Bilello said. Others around the country were lower, and the impact to air travelers has so far been minimal.

“We usually see 30-40 TSA call-outs per day, but that has doubled in the last few days,” Greg Chin, spokesman for Miami International Airport, told CNBC in an email. He said that the airport has about 700 TSA workers scheduled to work daily.

Starting Saturday, flights scheduled to fly from Terminals G after 1 p.m. through the same time on Sunday and Monday, will be relocated to Terminals F or H. The change is a “precautionary measure and to better utilize the decreased staffing,” Chin said.

United Airlines will use other gates for flights that were scheduled to depart from Terminal G, and is telling travelers to arrive at the airport early and to check for changes, a spokeswoman said.

TSA Administrator David Pekoske late Friday said the screeners would receive $500 and be paid for Dec. 22, the day the shutdown began.


Company: cnbc, Activity: cnbc, Date: 2019-01-12  Authors: leslie josephs, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, terminals, security, terminal, working, international, closes, scheduled, officers, shutdown, sick, tsa, airport, miami


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Oil slips on economic worries, but still set for strong weekly gain

U.S. West Texas Intermediate (WTI) crude futures dropped 7 cents, or 0.1 percent, to $52.52 per barrel. Despite Friday’s price falls, Brent and WTI are set for weekly gains of more than 7 and 8 percent respectively. A key reason for the emerging glut was the United States where crude oil production soared by more than 2 million barrels per day (bpd) in 2018 to a record 11.7 million bpd. Consultancy JBC Energy this week said it was likely that U.S. crude oil production was already “significantly


U.S. West Texas Intermediate (WTI) crude futures dropped 7 cents, or 0.1 percent, to $52.52 per barrel. Despite Friday’s price falls, Brent and WTI are set for weekly gains of more than 7 and 8 percent respectively. A key reason for the emerging glut was the United States where crude oil production soared by more than 2 million barrels per day (bpd) in 2018 to a record 11.7 million bpd. Consultancy JBC Energy this week said it was likely that U.S. crude oil production was already “significantly
Oil slips on economic worries, but still set for strong weekly gain Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: spencer platt, getty images
Keywords: news, cnbc, companies, weekly, production, economic, markets, trade, gain, set, slips, wti, million, crude, growth, global, oil, worries, strong


Oil slips on economic worries, but still set for strong weekly gain

Oil slipped on Friday amid concerns over the outlook for the global economy, but output cuts agreed by major exporters underpinned crude prices and kept markets on track for a strong weekly climb.

International Brent crude futures were at $61.55 per barrel at 0333 GMT, down 13 cents, or 0.2 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures dropped 7 cents, or 0.1 percent, to $52.52 per barrel.

Traders said the declines came on lingering concerns over the health of the global economy.

“If we experience an economic slowdown, crude will underperform due to its correlation to growth,” said Hue Frame, portfolio manager at Frame Funds in Sydney.

Most analysts have downgraded their global economic growth forecasts below 3 percent for 2019, with some even fearing a looming recession amid trade disputes and spiralling debt.

For now, however, there is hope that the trade war between Washington and Beijing may be resolved as global markets, including oil, took heart from talks between the two sides this week.

Despite Friday’s price falls, Brent and WTI are set for weekly gains of more than 7 and 8 percent respectively.

Beyond global economics, oil markets are receiving support from supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) aimed at reining in a glut that emerged in the second-half of 2018.

A key reason for the emerging glut was the United States where crude oil production soared by more than 2 million barrels per day (bpd) in 2018 to a record 11.7 million bpd.

Consultancy JBC Energy this week said it was likely that U.S. crude oil production was already “significantly above 12 million bpd” by January 2019.

Given the overall supply and demand balance, Swiss bank Julius Baer said it was “price neutral” in its oil forecast.

“We see the oil market as well balanced into the foreseeable future, as the petro-nations make space for further U.S. shale production growth,” said Norbert Ruecker, head of commodity research at the bank.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: spencer platt, getty images
Keywords: news, cnbc, companies, weekly, production, economic, markets, trade, gain, set, slips, wti, million, crude, growth, global, oil, worries, strong


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Elon Musk: Tesla Summon auto-parking upgrade probably available soon

A Tesla feature that gets your car to follow you around like a pet and auto-park is undergoing regulatory approval and will “probably” be available for some customers soon, CEO Elon Musk said on Twitter on Thursday. “Going through final validation & regulatory approval,” Musk said of Summon+, a planned upgrade to Tesla’s Summon auto-parking feature. “Probably releases to early access program owners in a few weeks. However, the auto executive added the caveat that the firm might not be able to ro


A Tesla feature that gets your car to follow you around like a pet and auto-park is undergoing regulatory approval and will “probably” be available for some customers soon, CEO Elon Musk said on Twitter on Thursday. “Going through final validation & regulatory approval,” Musk said of Summon+, a planned upgrade to Tesla’s Summon auto-parking feature. “Probably releases to early access program owners in a few weeks. However, the auto executive added the caveat that the firm might not be able to ro
Elon Musk: Tesla Summon auto-parking upgrade probably available soon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: ryan browne, spencer platt, getty images
Keywords: news, cnbc, companies, car, feature, regulatory, tesla, soon, upgrade, musk, autoparking, available, able, elon, pet, follow, summon, approval, probably


Elon Musk: Tesla Summon auto-parking upgrade probably available soon

A Tesla feature that gets your car to follow you around like a pet and auto-park is undergoing regulatory approval and will “probably” be available for some customers soon, CEO Elon Musk said on Twitter on Thursday.

“Going through final validation & regulatory approval,” Musk said of Summon+, a planned upgrade to Tesla’s Summon auto-parking feature. “Probably releases to early access program owners in a few weeks. It’s trippy!”

However, the auto executive added the caveat that the firm might not be able to roll out Summon+ in all of the markets it operates in, saying it was “getting some regulatory pushback.” He didn’t elaborate on those regulatory hurdles.

Musk said back in November that cars operating with Summon+ will be able to “drive to your phone location & follow you like a pet,” and that users will be able to control their car remotely “like a big RC car.”


Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: ryan browne, spencer platt, getty images
Keywords: news, cnbc, companies, car, feature, regulatory, tesla, soon, upgrade, musk, autoparking, available, able, elon, pet, follow, summon, approval, probably


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Job prospects are soaring in New York City, thanks to Amazon HQ2 and Google’s expansion plans

The job market in the Big Apple appears hotter than ever. According to a survey by Tech:NYC and Accenture, 80 percent of companies in New York City said they planned to hire more tech talent in 2018 than the year before. The trend is spurring demand for tech talent as well as for other support services, such as advertising, fintech, accounting, compliance and more. Headhunters say that although direct impact has yet to be seen, the expansion plans bode well for New York City’s job market. The hi


The job market in the Big Apple appears hotter than ever. According to a survey by Tech:NYC and Accenture, 80 percent of companies in New York City said they planned to hire more tech talent in 2018 than the year before. The trend is spurring demand for tech talent as well as for other support services, such as advertising, fintech, accounting, compliance and more. Headhunters say that although direct impact has yet to be seen, the expansion plans bode well for New York City’s job market. The hi
Job prospects are soaring in New York City, thanks to Amazon HQ2 and Google’s expansion plans Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: ellen sheng, eduardo munoz, robert bumsted, spencer platt, getty images
Keywords: news, cnbc, companies, market, hq2, soaring, thanks, job, city, talent, companies, plans, york, expansion, tech, labor, unemployment, googles, prospects


Job prospects are soaring in New York City, thanks to Amazon HQ2 and Google's expansion plans

The job market in the Big Apple appears hotter than ever. With unemployment at record lows, the battle for talent is raging as tech giants, including Amazon and Google, lay plans to open new or expanded operations in Manhattan and Long Island City.

Projects include the new $5 billion Amazon headquarters in Long Island City, Google’s new $1 billion 1.7-million-sq-ft campus in Hudson Square and a new office complex at Chelsea Market. According to a survey by Tech:NYC and Accenture, 80 percent of companies in New York City said they planned to hire more tech talent in 2018 than the year before.

The trend is spurring demand for tech talent as well as for other support services, such as advertising, fintech, accounting, compliance and more. Headhunters say that although direct impact has yet to be seen, the expansion plans bode well for New York City’s job market.

“Even though New York is one of the most expensive markets in the country, it offers huge advantages for companies,” said Jed Kolko, chief economist at online jobs site Indeed.com.

“It is the largest labor market in the country, and it’s a fairly diversified market,” he said, noting that New York City also offers a fairly broad mix of both employers and workers in many industries and occupations. For many companies, that makes it worthwhile to pay the high real estate and labor costs to be in New York.

The hiring spree will make an already tight job market even tighter. Last month the New York Department of Labor said seasonally adjusted unemployment fell to 3.9 percent in November. That’s the lowest level since the department started keeping records in 1976. Not only that, but New York State’s private-sector job count rose to an all-time high of 9.75 million.


Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: ellen sheng, eduardo munoz, robert bumsted, spencer platt, getty images
Keywords: news, cnbc, companies, market, hq2, soaring, thanks, job, city, talent, companies, plans, york, expansion, tech, labor, unemployment, googles, prospects


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