Asia markets: Wall Street, US-China trade war, currencies in focus

Stocks in Asia slipped on Monday afternoon as investors remained cautious, following global losses in the previous week. In the Greater China region, the Hang Seng index in Hong Kong fell by around 1.32 percent as of 3:31 a.m. HK/SIN. In Japan, the Nikkei 225 fell by 1.87 percent to close at 22,271.30, while the Topix index slipped by 1.59 percent at 1,675.44, with most sectors ending the trading day lower. Meanwhile, South Korea’s Kospi also saw losses of 0.77 percent to close at 2,145.12, with


Stocks in Asia slipped on Monday afternoon as investors remained cautious, following global losses in the previous week. In the Greater China region, the Hang Seng index in Hong Kong fell by around 1.32 percent as of 3:31 a.m. HK/SIN. In Japan, the Nikkei 225 fell by 1.87 percent to close at 22,271.30, while the Topix index slipped by 1.59 percent at 1,675.44, with most sectors ending the trading day lower. Meanwhile, South Korea’s Kospi also saw losses of 0.77 percent to close at 2,145.12, with
Asia markets: Wall Street, US-China trade war, currencies in focus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: eustance huang
Keywords: news, cnbc, companies, asia, trading, bank, war, fell, china, currencies, wall, slipped, sectors, day, saw, street, losses, trade, focus, uschina, markets, close


Asia markets: Wall Street, US-China trade war, currencies in focus

Stocks in Asia slipped on Monday afternoon as investors remained cautious, following global losses in the previous week.

In the Greater China region, the Hang Seng index in Hong Kong fell by around 1.32 percent as of 3:31 a.m. HK/SIN.

The Shanghai composite also slipped by 1.49 percent to close at around 2,568.10 — its lowest since November 2014 — while the Shenzhen composite declined by 1.178 percent to end the trading day at about 1,281.08.

The moves in China came as new reserve requirements for lenders went into effect, in a move by the People’s Bank of China which is expected to inject 750 billion yuan (around $108.4 billion) into the banking system.

In Japan, the Nikkei 225 fell by 1.87 percent to close at 22,271.30, while the Topix index slipped by 1.59 percent at 1,675.44, with most sectors ending the trading day lower.

Meanwhile, South Korea’s Kospi also saw losses of 0.77 percent to close at 2,145.12, with industry heavyweight Samsung Electronics slipping by 0.45 percent and chipmaker SK Hynix falling by 2.9 percent.

In Australia, the benchmark ASX 200 fell around 1 percent to end the trading day Down Under at 5,837.1 with most sectors lower. The heavily weighted financial subindex fell 1.62 percent as major banking shares saw losses — Commonwealth Bank was down 2.09 percent, ANZ fell 1.85 percent, Westpac was lower by 1.59 percent and the National Australia Bank declined by 1.58 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: eustance huang
Keywords: news, cnbc, companies, asia, trading, bank, war, fell, china, currencies, wall, slipped, sectors, day, saw, street, losses, trade, focus, uschina, markets, close


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This chart shows why October has such a scary reputation on Wall Street

There may be one reason why investors fear October so much despite stocks averaging a gain this time of the year: it tends to be the most volatile month of the calendar. On average, the S&P 500 posts a daily move of at least 1 percent on 10.3 percent of October’s trading days, according to data from CFRA Research going back to 1950. That’s more than any other month, the data show. The 1929 crash took place in October, as did the one in 1987, which saw the S&P 500 lose more than 20 percent of its


There may be one reason why investors fear October so much despite stocks averaging a gain this time of the year: it tends to be the most volatile month of the calendar. On average, the S&P 500 posts a daily move of at least 1 percent on 10.3 percent of October’s trading days, according to data from CFRA Research going back to 1950. That’s more than any other month, the data show. The 1929 crash took place in October, as did the one in 1987, which saw the S&P 500 lose more than 20 percent of its
This chart shows why October has such a scary reputation on Wall Street Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: fred imbert
Keywords: news, cnbc, companies, reputation, street, scary, 500, month, wall, biggest, thats, value, data, took, shows, volatile, chart, trading, sp


This chart shows why October has such a scary reputation on Wall Street

There may be one reason why investors fear October so much despite stocks averaging a gain this time of the year: it tends to be the most volatile month of the calendar.

On average, the S&P 500 posts a daily move of at least 1 percent on 10.3 percent of October’s trading days, according to data from CFRA Research going back to 1950. That’s more than any other month, the data show.

Some of the biggest market crashes ever have also happened in October. The 1929 crash took place in October, as did the one in 1987, which saw the S&P 500 lose more than 20 percent of its value in one day. The 2008 financial crisis’ biggest sell-offs also occurred in the month.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: fred imbert
Keywords: news, cnbc, companies, reputation, street, scary, 500, month, wall, biggest, thats, value, data, took, shows, volatile, chart, trading, sp


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Tech shares come roaring back in trading Friday, led by Netflix and Amazon

Tech stocks were led by Netflix and Amazon, up 5.8 percent and 4 percent, respectively, while chipmakers AMD and Nvidia both rose more than 4 percent. Netflix and Microsoft were boosted by upgrades from Wall Street analysts who said the sell-off had gone far enough. The past two days saw Amazon, Netflix and Alphabet all in correction territory after taking big hits this week. A correction on Wall Street is defined as down more than 10 percent from its high. Although shares of Amazon trade at $1,


Tech stocks were led by Netflix and Amazon, up 5.8 percent and 4 percent, respectively, while chipmakers AMD and Nvidia both rose more than 4 percent. Netflix and Microsoft were boosted by upgrades from Wall Street analysts who said the sell-off had gone far enough. The past two days saw Amazon, Netflix and Alphabet all in correction territory after taking big hits this week. A correction on Wall Street is defined as down more than 10 percent from its high. Although shares of Amazon trade at $1,
Tech shares come roaring back in trading Friday, led by Netflix and Amazon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: michael sheetz
Keywords: news, cnbc, companies, tech, shares, trading, stocks, rose, correction, wall, street, cramer, trade, amazon, come, territory, netflix, roaring, led


Tech shares come roaring back in trading Friday, led by Netflix and Amazon

What happened? What should you do? 7:45 PM ET Thu, 11 Oct 2018 | 05:25

Technology stocks moved sharply higher Friday, after a two-day slaughter saw the technology-heavy Nasdaq Composite Index fall briefly into correction territory, down 10 percent from its recent highs.

Technology Select SPDR Fund, which tracks the S&P 500 technology sector, rose 3 percent in trading. Tech stocks were led by Netflix and Amazon, up 5.8 percent and 4 percent, respectively, while chipmakers AMD and Nvidia both rose more than 4 percent. Microsoft, Apple, Alphabet and Twitter shares were rose 2 percent or more.

The Dow Jones Industrial Average rose more than 270 points in a rebound Friday.

Netflix and Microsoft were boosted by upgrades from Wall Street analysts who said the sell-off had gone far enough. Amazon was one of the stocks CNBC’s Jim Cramer said he was adding as part of his broader view that a market turnaround was due on Friday.

Tech stocks got clobbered during a sell-off across stock markets this week, amid concerns over rising interest rates, escalating trade tensions and tighter monetary policy. The past two days saw Amazon, Netflix and Alphabet all in correction territory after taking big hits this week.

On Thursday, the Nasdaq became the first major U.S. stock market benchmark to dip into a correction, falling as low as 7,274 in intraday trading — a drop over 10 percent from the most recent 52-week trading high of 8,133.30. A correction on Wall Street is defined as down more than 10 percent from its high.

Amazon is one of the top names to buy in this environment, according to Cramer. Although shares of Amazon trade at $1,776 a share, Cramer said he doesn’t know “when you buy Amazon other than when it’s down big and people are really scared.”


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: michael sheetz
Keywords: news, cnbc, companies, tech, shares, trading, stocks, rose, correction, wall, street, cramer, trade, amazon, come, territory, netflix, roaring, led


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Asia markets broadly recover following extended rout on Wall Street

Asia stocks saw a broad recovery on Friday following another tumble on Wall Street overnight, with the Dow Jones Industrial Average dropping by more than 500 points. In Japan, the Nikkei 225 saw gains of 0.46 percent to close at 22,694.66 while the Topix index ended largely flat at 1,702.45. The energy sector, however, was lower by 1.5 percent, while the heavily weighted financial subindex was largely flat. The move in ANZ’s stock came following an announcement by its chief executive that the ba


Asia stocks saw a broad recovery on Friday following another tumble on Wall Street overnight, with the Dow Jones Industrial Average dropping by more than 500 points. In Japan, the Nikkei 225 saw gains of 0.46 percent to close at 22,694.66 while the Topix index ended largely flat at 1,702.45. The energy sector, however, was lower by 1.5 percent, while the heavily weighted financial subindex was largely flat. The move in ANZ’s stock came following an announcement by its chief executive that the ba
Asia markets broadly recover following extended rout on Wall Street Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: eustance huang
Keywords: news, cnbc, companies, wall, extended, ended, following, asia, lower, index, gains, markets, higher, street, recovery, saw, rout, recover, largely, flat, broadly


Asia markets broadly recover following extended rout on Wall Street

Asia stocks saw a broad recovery on Friday following another tumble on Wall Street overnight, with the Dow Jones Industrial Average dropping by more than 500 points.

In the Greater China region, Hong Kong’s Hang Seng index advanced by 2.07 percent in afternoon trade.

Over on the mainland, the Shanghai composite bounced on the back of positive trade data for the month of September to close higher by 0.91 percent at around 2,606.91, while the Shenzhen composite advanced by 0.19 percent at about 1,296.36.

In Japan, the Nikkei 225 saw gains of 0.46 percent to close at 22,694.66 while the Topix index ended largely flat at 1,702.45.

The ASX 200 closed higher by 0.2 percent at 5,895.7 after losing 0.52 percent earlier in the session. The energy sector, however, was lower by 1.5 percent, while the heavily weighted financial subindex was largely flat.

Shares of major banks Down Under saw a recovery though some still ended the trading day lower, with Australia and New Zealand Banking Group down by 0.38 percent while Commonwealth Bank of Australia was largely flat. The move in ANZ’s stock came following an announcement by its chief executive that the bank had fired over 200 staff for wrongdoing.

Over in South Korea, the Kospi saw gains of 1.54 percent at 2,162.37, with shares of chipmaker SK Hynix advancing 5.07 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: eustance huang
Keywords: news, cnbc, companies, wall, extended, ended, following, asia, lower, index, gains, markets, higher, street, recovery, saw, rout, recover, largely, flat, broadly


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Strong economy has a downside for Main Street: Fewer workers means higher wages

Nearly a decade later — as the economy kicks back into high gear, driving new business — Dion finds himself with nine employees. The strong economy’s ripple effect is cutting small businesses such as Dion’s two ways. “Without adequate labor, small businesses are finding that they cannot fully take advantage of growth opportunities,” said Karen Kerrigan, president and CEO of the Small Business & Entrepreneurship Council. “This is very frustrating, as prior economic and policy uncertainties were h


Nearly a decade later — as the economy kicks back into high gear, driving new business — Dion finds himself with nine employees. The strong economy’s ripple effect is cutting small businesses such as Dion’s two ways. “Without adequate labor, small businesses are finding that they cannot fully take advantage of growth opportunities,” said Karen Kerrigan, president and CEO of the Small Business & Entrepreneurship Council. “This is very frustrating, as prior economic and policy uncertainties were h
Strong economy has a downside for Main Street: Fewer workers means higher wages Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: kate rogers, marc romanelli, getty images
Keywords: news, cnbc, companies, means, businesses, looking, employees, downside, main, workers, street, strong, higher, economy, wages, small, wage, business, raising, labor, fewer, dion


Strong economy has a downside for Main Street: Fewer workers means higher wages

Rod Dion found his business particularly hard hit during the Great Recession. His Albany, New York-based company sells office furniture and provides interior design services — not exactly in high demand while the economy was taking a nosedive.

“The last thing people needed when they were laying people off was new office furniture,” says Dion, owner of Tech Valley Office Interiors. What’s more, Dion said, people stopped going to school for interior design at local schools, shrinking his pool of potential job candidates.

Nearly a decade later — as the economy kicks back into high gear, driving new business — Dion finds himself with nine employees. “For once my staff is up to snuff and working well,” he says.

But not without a price. He’s had to get much more aggressive in his hiring process, now paying upward of $10,000 more per year per employee. He’s also gotten more creative.

“I help out with student loan debt — I make principle payments on loans of up to $300 a month; people take advantage of it,” he says of his mostly Gen Z staff. “There are no limits, as long as they are a good employee.”

The strong economy’s ripple effect is cutting small businesses such as Dion’s two ways. While a more confident consumer base is contributing to a stronger bottom line for Main Street, the labor market is tightening, making finding workers to fill positions a challenge for companies looking to capitalize. What’s more, many are increasing pay for the workers they already have to keep them on board.

“Without adequate labor, small businesses are finding that they cannot fully take advantage of growth opportunities,” said Karen Kerrigan, president and CEO of the Small Business & Entrepreneurship Council. “This is very frustrating, as prior economic and policy uncertainties were holding many small businesses back from investing in their growth. Now that revenues are picking up and expansion opportunities are more prevalent, labor conditions are the big challenge stunting growth.”

Kerrigan said that for many small businesses technology isn’t a replacement for human capital and often the only solution is increasing wages.

“Small firms are definitely squeezed by current labor conditions. Many cannot find the skilled employees they need to operate or grow their businesses, and at the same time there is a limit to how much they can expend within their wage range.”

It’s something that’s come up repeatedly in the National Federation of Independent Business’ monthly optimism index, which has seen “labor quality” as the top concern for small businesses surveyed for more than half of the year — outpacing taxes and government red tape and regulations. As a result, in this month’s report a net 37 percent of owners reported raising wages, a new record, and 24 percent said they plan to increase total compensation, also a near-record high.

“Firms needing workers have few options other than raising compensation to attract” them, said the group’s chief economist, Bill Dunkelberg. “As long as this tightness remains in the labor market, worker compensation will rise.”

Joe Olivo is facing wage pressures as his printing company undergoes an expansion over the next six months. The president of Perfect Communications in Moorestown, New Jersey, said he’s looking to bring on between four and five new workers. Typically he pays between $10 and $33 an hour, depending on what shift workers are filling and their skill level, and is looking at raising pay, he said.

“We are just starting the process and definitely are seeing that we have to increase the wages of our existing personnel, especially on the lower end. We are in New Jersey, and the state hasn’t passed [a proposed] $15-an-hour minimum wage, but the pressure is there. Amazon is looking to fill thousands of jobs at $15 an hour or higher, and the printing industry is already tough in terms of finding skilled people,” he said.

The company has already budgeted for a 2 percent increase for its wage base this year. In addition, he pays 100 percent of health insurance premiums for employees and has been offering more paid time off and flexibility.

“What if we have to go over that? On a good year we have 3 percent profit margin,” he said. “From a small business standpoint we always pitch employees that we are flexible, family-friendly — we feel it’s not just a wage thing. We can offer employees a good quality of life.”


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: kate rogers, marc romanelli, getty images
Keywords: news, cnbc, companies, means, businesses, looking, employees, downside, main, workers, street, strong, higher, economy, wages, small, wage, business, raising, labor, fewer, dion


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Gold nudges down as strong US data boosts rate rise view

Gold prices inched down on Thursday as robust U.S. data potentially bolstered the chances of multiple U.S. interest rate hikes over the next year, but a weaker dollar curbed losses. The marginal decline came even as Wall Street suffered its worst drubbing in eight months. “Rising interest rates is not good news for gold. Asian share markets, meanwhile, sank on Thursday following steep falls on Wall Street. U.S. President Donald Trump said Wednesday’s stock market sell-off was a long-awaited “cor


Gold prices inched down on Thursday as robust U.S. data potentially bolstered the chances of multiple U.S. interest rate hikes over the next year, but a weaker dollar curbed losses. The marginal decline came even as Wall Street suffered its worst drubbing in eight months. “Rising interest rates is not good news for gold. Asian share markets, meanwhile, sank on Thursday following steep falls on Wall Street. U.S. President Donald Trump said Wednesday’s stock market sell-off was a long-awaited “cor
Gold nudges down as strong US data boosts rate rise view Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11
Keywords: news, cnbc, companies, strong, rise, street, wall, view, data, selloff, interest, ounce, gold, rates, prices, rate, dollar, rose, nudges, boosts


Gold nudges down as strong US data boosts rate rise view

Gold prices inched down on Thursday as robust U.S. data potentially bolstered the chances of multiple U.S. interest rate hikes over the next year, but a weaker dollar curbed losses.

The marginal decline came even as Wall Street suffered its worst drubbing in eight months.

Spot gold was down 0.2 percent at $1,192.58 an ounce at 0430 GMT.

U.S. gold futures edged up 0.2 percent to $1,195.90 an ounce.

“Rising interest rates is not good news for gold. People are preferring U.S. Treasury bonds as they are more attractive in the current environment over gold, despite the sell-off in equities,” said Ronald Leung, chief dealer, Lee Cheong Gold Dealers, Hong Kong.

Data on U.S. producer prices, which rose in September after declining the previous month, and a revision to wholesale inventory estimates for August, added to a hawkish outlook on interest rates.

“The Fed is expected to raise interest rates in December but we are not sure about the future hikes as we have to see how the trade war will affect the U.S. economy. The upcoming mid-term elections in U.S. will also be very crucial,” Leung said.

The Fed can likely stop raising U.S. interest rates once they reach about 3 percent, as long as inflation remains around 2 percent and the economy is doing well, Chicago Federal Reserve President Charles Evans suggested on Wednesday.

Asian share markets, meanwhile, sank on Thursday following steep falls on Wall Street. U.S. President Donald Trump said Wednesday’s stock market sell-off was a long-awaited “correction,” and the Federal Reserve, which has been raising U.S. interest rates, had gone “crazy”.

“The sentiment that we have seen this morning with the Wall Street and Asian markets tanking is a chance for gold prices to reintroduce as a safe haven again, especially at this time of poor risk appetite,” OCBC analyst Barnabas Gan said.

“That is something investors will be looking at very closely if the dollar falls further.”

The dollar index, which measures the greenback against a basket of six major currencies, was down 0.3 percent.

Spot gold may break a resistance at $1,195 per ounce and edge up to the next resistance at $1,200, as it has temporarily bottomed around a support at $1,182, according to Reuters technical analyst Wang Tao.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 1.21 percent to 738.99 tonnes on Wednesday, for its first gains since July.

Meanwhile, spot silver was flat at $14.26 an ounce and palladium was little changed at $1,067.24. Platinum slipped 0.9 percent to $811.49 an ounce.


Company: cnbc, Activity: cnbc, Date: 2018-10-11
Keywords: news, cnbc, companies, strong, rise, street, wall, view, data, selloff, interest, ounce, gold, rates, prices, rate, dollar, rose, nudges, boosts


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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


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McDonald’s franchisees may join together to push for changes as sales disappoint

In a rare step, a group of McDonald’s franchisees met Wednesday to voice concerns about changes they are being asked to make to improve sales growth at the hamburger chain, according to a media report. “We always welcome and are committed to a constructive, collaborative dialogue with our franchisees,” a McDonald’s spokeswoman told CNBC in an email. A McDonald’s spokeswoman told the Journal that renovated stores in the U.S. usually see a pick up in sales in a mid-single-digit percentage in the f


In a rare step, a group of McDonald’s franchisees met Wednesday to voice concerns about changes they are being asked to make to improve sales growth at the hamburger chain, according to a media report. “We always welcome and are committed to a constructive, collaborative dialogue with our franchisees,” a McDonald’s spokeswoman told CNBC in an email. A McDonald’s spokeswoman told the Journal that renovated stores in the U.S. usually see a pick up in sales in a mid-single-digit percentage in the f
McDonald’s franchisees may join together to push for changes as sales disappoint Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: christina cheddar berk, chris ratcliffe, bloomberg, getty images
Keywords: news, cnbc, companies, journal, street, wall, sales, franchisees, spokeswoman, growth, told, mcdonalds, disappoint, push, changes, stores, join


McDonald's franchisees may join together to push for changes as sales disappoint

In a rare step, a group of McDonald’s franchisees met Wednesday to voice concerns about changes they are being asked to make to improve sales growth at the hamburger chain, according to a media report.

Restaurant owners who attended the meeting told the Wall Street Journal they are pouring money into updating stores, adding touch-screen kiosks and refrigerators needed to serve fresh beef burgers, but those steps are not yielding results quick enough to offset the impact of their investments.

The paper reported about 400 franchisees attended the meeting in Tampa, Florida. The group, which represents a quarter of U.S. franchisees, is planning to form an independent operators’ association. The report said no formal vote on this action was taken or scheduled.

McDonald’s declined to comment on specifics of the report.

“We always welcome and are committed to a constructive, collaborative dialogue with our franchisees,” a McDonald’s spokeswoman told CNBC in an email. “We will continue to work closely with our franchisees so they have the support they need to run great restaurants and provide great quality experiences and convenience for guests.”

A McDonald’s spokeswoman told the Journal that renovated stores in the U.S. usually see a pick up in sales in a mid-single-digit percentage in the first year. The addition of self-order kiosks can boost sales by 1 percent to 2 percent, they said.

McDonald’s does share the cost of the upgrades with its restaurant operations.

McDonald’s efforts to revitalize the brand, which began more than a year ago, initially boosted performance, but sales growth cooled in the second quarter, with U.S. restaurants open at least a year growing 2.6 percent. That was short of the 3 percent growth analysts predicted, according to StreetAccount.

McDonald’s shares are down about 2 percent since the start of the year.

For more on the developments, read the full story in The Wall Street Journal.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: christina cheddar berk, chris ratcliffe, bloomberg, getty images
Keywords: news, cnbc, companies, journal, street, wall, sales, franchisees, spokeswoman, growth, told, mcdonalds, disappoint, push, changes, stores, join


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European stocks slump again as renewed Wall Street sell-off provokes volatile session

The pan-European Stoxx 600 closed the session provisionally down by 1.95 percent, with financial services and oil and gas stocks leading the losses. A dramatic sell-off on Wall Street in the previous session had prompted the European benchmark to fall to its its lowest level in more than 21 months before it recovered slightly. In Germany the DAX finished off by 1.36 percent, while stocks listed on the CAC 40 in Paris lost 1.79 percent on average. Looking at individual stocks in Europe, Britain’s


The pan-European Stoxx 600 closed the session provisionally down by 1.95 percent, with financial services and oil and gas stocks leading the losses. A dramatic sell-off on Wall Street in the previous session had prompted the European benchmark to fall to its its lowest level in more than 21 months before it recovered slightly. In Germany the DAX finished off by 1.36 percent, while stocks listed on the CAC 40 in Paris lost 1.79 percent on average. Looking at individual stocks in Europe, Britain’s
European stocks slump again as renewed Wall Street sell-off provokes volatile session Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: sam meredith, silvia amaro, ryan browne
Keywords: news, cnbc, companies, street, stocks, session, london, selloff, lower, shares, renewed, stoxx, slump, volatile, finished, provokes, european, index, 600, wall


European stocks slump again as renewed Wall Street sell-off provokes volatile session

The pan-European Stoxx 600 closed the session provisionally down by 1.95 percent, with financial services and oil and gas stocks leading the losses. A dramatic sell-off on Wall Street in the previous session had prompted the European benchmark to fall to its its lowest level in more than 21 months before it recovered slightly.

However that up tick was short-lived as renewed selling on both sides of the Atlantic gathered pace. At one point in the mid-afternoon, the two-day loss on the Dow Jones Industrial Average had reached 1,100 points.

In London, the FTSE 100 in London shed 1.94 percent on Thursday. In Germany the DAX finished off by 1.36 percent, while stocks listed on the CAC 40 in Paris lost 1.79 percent on average.

Global equity markets have tumbled in recent days on the back of heightened fears about global economic growth and rising interest rates. In the United States, the tech-heavy Nasdaq is on course for its worst month since November 2008.

Looking at individual stocks in Europe, Britain’s WH Smith plummeted to the bottom of the index after announcing new plans to restructure its high street stores. Shares of the London-listed stock finished down 11.16 percent on the news.

Britain’s Hays also traded sharply lower, after the recruitment agency warned currency headwinds could hit its fiscal 2019 year. Shares of the company ended lower by 10.4 percent

Meanwhile, shares in Germany’s Dialog Semiconductor rose 16.58 percent sit atop the Stoxx 600 index on Thursday. The company’s shares soared after it announced a new $600 million deal with Apple.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: sam meredith, silvia amaro, ryan browne
Keywords: news, cnbc, companies, street, stocks, session, london, selloff, lower, shares, renewed, stoxx, slump, volatile, finished, provokes, european, index, 600, wall


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Tencent Music will reportedly postpone IPO due to global market sell-off

Tencent Music Entertainment Group will postpone its highly anticipated initial public offering because of the recent sell-off, The Wall Street Journal reported Thursday citing people familiar with the deal. Sources told the Journal that Tencent Music was originally set to kick off its roadshow next week and begin trading the following week. The music arm of Chinese tech giant Tencent owns the four largest music apps in China and counts industry competitor Spotify as a backer. Parent company Tenc


Tencent Music Entertainment Group will postpone its highly anticipated initial public offering because of the recent sell-off, The Wall Street Journal reported Thursday citing people familiar with the deal. Sources told the Journal that Tencent Music was originally set to kick off its roadshow next week and begin trading the following week. The music arm of Chinese tech giant Tencent owns the four largest music apps in China and counts industry competitor Spotify as a backer. Parent company Tenc
Tencent Music will reportedly postpone IPO due to global market sell-off Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: christine wang, chesnot, getty images
Keywords: news, cnbc, companies, wall, postpone, music, ipo, reported, owns, selloff, global, street, tencent, reportedly, company, journal, market, tech, week


Tencent Music will reportedly postpone IPO due to global market sell-off

Tencent Music Entertainment Group will postpone its highly anticipated initial public offering because of the recent sell-off, The Wall Street Journal reported Thursday citing people familiar with the deal.

The Journal reported that the company met with its underwriters this week, but sources said Tencent Music ultimately decided to push its debut back amid concerns that the sell-off would affect its pricing.

Stocks fell sharply Thursday with the Dow Jones Industrial Average closing more than 500 points lower, bringing its two-day losses to more than 1,300 points. Investors dumped equities around the globe amid concerns about rapidly rising interest rates, a possible global economic slowdown and overly ambitious tech valuations. The Nasdaq on Thursday became the first major benchmark to fall into correction territory.

Sources told the Journal that Tencent Music was originally set to kick off its roadshow next week and begin trading the following week. The Journal reported that the division now plans to wait until November.

The music arm of Chinese tech giant Tencent owns the four largest music apps in China and counts industry competitor Spotify as a backer. According to a prospectus filed earlier this month, Tencent Music plans on raising as much as $1 billion in what could be the largest U.S. IPO by a Chinese company since Alibaba raised over $20 billion in 2014.

Parent company Tencent owns 58 percent of the music division, while recently public Spotify owns 9 percent of shares.

Tencent did not immediately respond to CNBC’s request for comment.

Read the full report in The Wall Street Journal.

— CNBC’s Sara Salinas, Fred Imbert and Michael Sheetz contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: christine wang, chesnot, getty images
Keywords: news, cnbc, companies, wall, postpone, music, ipo, reported, owns, selloff, global, street, tencent, reportedly, company, journal, market, tech, week


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