In a bad sign for trade talks, Trump deploys a new label for China’s Xi – ‘enemy’

Chinese President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017. Even as trade tensions continued to heat up, President Donald Trump would make sure to refer to China’s president, Xi Jinping, as his “friend.” On Friday, though, Trump unveiled a new label for his Chinese counterpart: “enemy.” “My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” Trump also said Friday that he had “hereby ord


Chinese President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017. Even as trade tensions continued to heat up, President Donald Trump would make sure to refer to China’s president, Xi Jinping, as his “friend.” On Friday, though, Trump unveiled a new label for his Chinese counterpart: “enemy.” “My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” Trump also said Friday that he had “hereby ord
In a bad sign for trade talks, Trump deploys a new label for China’s Xi – ‘enemy’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: tucker higgins
Keywords: news, cnbc, companies, question, deploys, sign, label, xi, enemy, chinas, trumps, trump, tariffs, trade, jinping, bad, chairman, president, talks, chinese


In a bad sign for trade talks, Trump deploys a new label for China's Xi – 'enemy'

Chinese President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017.

Even as trade tensions continued to heat up, President Donald Trump would make sure to refer to China’s president, Xi Jinping, as his “friend.” On Friday, though, Trump unveiled a new label for his Chinese counterpart: “enemy.”

In one of a series of tweets that rattled markets, the president posed a question to his more than 60 million followers comparing Xi to Federal Reserve Chairman Jerome Powell.

“My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” Trump wrote.

The tweet came shortly after China announced that it will impose 5%-10% tariffs on $75 billion worth of U.S. goods and reinstate duties on American autos. The tariffs will come in two batches, on Sept. 1 and Dec. 15, which are the same days that Trump’s newest round of tariffs on Chinese goods will go into effect.

The S&P 500 index of large publicly traded companies was down about 1.8% Friday morning after briefly going positive. Trump also said Friday that he had “hereby ordered” U.S. firms to seek an “alternative ” to China.

At first blush, Trump’s comment was striking not for its slam on the communist leader, but for the critique of the American central bank chairman whom Trump himself appointed.

But it also suggests that the president’s personal relationship with Xi, which Trump has touted as the best route to completing a major trade deal uniting the world’s two largest economies, is at a low point.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: tucker higgins
Keywords: news, cnbc, companies, question, deploys, sign, label, xi, enemy, chinas, trumps, trump, tariffs, trade, jinping, bad, chairman, president, talks, chinese


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Stan Lee’s daughter: ‘No one could have treated my father worse than Marvel and Disney’s executives’

In a statement to TMZ, Joan Lee said Marvel and Disney need to be “checked and balanced” as they seek total control of her father’s creations. Disney, which owns Marvel, and Sony had penned a deal in 2015 that would bring Spider-Man into the Marvel Cinematic Universe. If talks do not resume, it is likely that Spider-Man will no longer be part of the Marvel Cinematic Universe, and that could be bad for both Sony and Marvel. “When my father died, no one from Marvel or Disney reached out to me,” Le


In a statement to TMZ, Joan Lee said Marvel and Disney need to be “checked and balanced” as they seek total control of her father’s creations. Disney, which owns Marvel, and Sony had penned a deal in 2015 that would bring Spider-Man into the Marvel Cinematic Universe. If talks do not resume, it is likely that Spider-Man will no longer be part of the Marvel Cinematic Universe, and that could be bad for both Sony and Marvel. “When my father died, no one from Marvel or Disney reached out to me,” Le
Stan Lee’s daughter: ‘No one could have treated my father worse than Marvel and Disney’s executives’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: sarah whitten
Keywords: news, cnbc, companies, disneys, worse, treated, executives, daughter, universe, lees, deal, cinematic, lee, character, talks, sony, father, disney, spiderman, stan, marvel


Stan Lee's daughter: 'No one could have treated my father worse than Marvel and Disney's executives'

While many fans have rallied behind Disney in the wake of reports that talks had broken down between the company and Sony over future Spider-Man films, at least one person is standing behind Sony — Stan Lee’s daughter.

In a statement to TMZ, Joan Lee said Marvel and Disney need to be “checked and balanced” as they seek total control of her father’s creations.

“Whether it’s Sony or someone else’s, the continued evolution of Stan’s characters and his legacy deserves multiple points of view,” she said. While legendary comic book writer Lee created the Spider-Man character for Marvel comics in the 1960s, Sony has owned the film rights to the character for about two decades.

Disney, which owns Marvel, and Sony had penned a deal in 2015 that would bring Spider-Man into the Marvel Cinematic Universe. In the initial deal between the two companies, Sony would allow Marvel’s creative team to integrate Spider-Man into its cinematic universe and would put up 100% of the production costs.

In exchange, Disney received 5% of “first-dollar gross,” or 5% of the ticket sales from the first day of the release, and retained the merchandising rights for the character. Sony would reap the rest of the box-office haul.

Disney reportedly proposed a 50/50 co-financing deal, meaning each company would put up half of the production costs and then split the profits, according to entertainment news website Deadline. Sony reportedly refused.

If talks do not resume, it is likely that Spider-Man will no longer be part of the Marvel Cinematic Universe, and that could be bad for both Sony and Marvel.

Lee seemed to support Sony’s decision not to accept this new co-financing deal.

“When my father died, no one from Marvel or Disney reached out to me,” Lee said. “From day one, they have commoditized my father’s work and never shown him or his legacy any respect or decency. In the end, no one could have treated my father worse than Marvel and Disney’s executives.”

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


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: sarah whitten
Keywords: news, cnbc, companies, disneys, worse, treated, executives, daughter, universe, lees, deal, cinematic, lee, character, talks, sony, father, disney, spiderman, stan, marvel


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Rubenstein: Trump must cut some kind of China trade deal or risk being a one-term president

President Donald Trump needs to reach an agreement with China to end the trade war if he wants to be reelected next year, private equity billionaire David Rubenstein told CNBC on Friday. “If the China trade agreement is not resolved in some form before the election, I suspect it will not be good for those running for reelection,” Rubenstein said on “Squawk Box.” Trump also said he hopes to talk “soon” by phone with Chinese President Xi Jinping. “We don’t have to have the most comprehensive China


President Donald Trump needs to reach an agreement with China to end the trade war if he wants to be reelected next year, private equity billionaire David Rubenstein told CNBC on Friday. “If the China trade agreement is not resolved in some form before the election, I suspect it will not be good for those running for reelection,” Rubenstein said on “Squawk Box.” Trump also said he hopes to talk “soon” by phone with Chinese President Xi Jinping. “We don’t have to have the most comprehensive China
Rubenstein: Trump must cut some kind of China trade deal or risk being a one-term president Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, cut, think, kind, oneterm, president, rubenstein, chinese, risk, china, deal, talks, washington, trade, trump, agreement


Rubenstein: Trump must cut some kind of China trade deal or risk being a one-term president

President Donald Trump needs to reach an agreement with China to end the trade war if he wants to be reelected next year, private equity billionaire David Rubenstein told CNBC on Friday.

“Some agreement is better than no agreement,” said the co-founder of The Carlyle Group, a global investment firm based in Washington, with $223 billion of assets under management.

“If the China trade agreement is not resolved in some form before the election, I suspect it will not be good for those running for reelection,” Rubenstein said on “Squawk Box.”

Talking with reporters Thursday evening, Trump said that U.S. and Chinese officials have been holding “productive” talks. The president said he expects negotiators for both sides to meet as planned next month in Washington, despite 10% U.S. tariffs on $300 billion in additional Chinese imports set to take effect on Sept. 1.

Trump also said he hopes to talk “soon” by phone with Chinese President Xi Jinping. Beijing on Thursday initially said it would take tariff countermeasures, but later said it hopes to “meet the U.S. halfway.”

“We don’t have to have the most comprehensive China trade agreement of all time in order to have an agreement with China,” said Rubenstein, a political independent who says he doesn’t give money to either party. “Right now there’s uncertainty about China. Give the markets some certainty, even if it’s not comprehensive. I think the markets would respond well to it, and I think the Chinese want to make a deal.”

Neither country will make “the greatest deal, from their point of view,” Rubenstein added. He urged Trump to act in the next few months.

As trade talks had stalled in June, Rubenstein predicted a resolution by the end of the year. In January, however, he indicated that his conversations with U.S. and Chinese officials suggested a trade deal in “the next few months.”


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, cut, think, kind, oneterm, president, rubenstein, chinese, risk, china, deal, talks, washington, trade, trump, agreement


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Hong Kong protests will be ‘settled or crushed’ ahead of China national celebrations, analyst says

The months-long protests in Hong Kong could come to an end soon, according to strategist David Roche, who said they will “be settled or crushed” before October 1 — the 70th anniversary of China’s National Day. The way China responds to the situation in the city is crucial in determining how markets and U.S.-China trade talks will be affected, he told CNBC on Friday. In fact, the politics go hand in hand with the Chinese economy, Roche said. “I don’t accept this will be a small scale problem in a


The months-long protests in Hong Kong could come to an end soon, according to strategist David Roche, who said they will “be settled or crushed” before October 1 — the 70th anniversary of China’s National Day. The way China responds to the situation in the city is crucial in determining how markets and U.S.-China trade talks will be affected, he told CNBC on Friday. In fact, the politics go hand in hand with the Chinese economy, Roche said. “I don’t accept this will be a small scale problem in a
Hong Kong protests will be ‘settled or crushed’ ahead of China national celebrations, analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: grace shao
Keywords: news, cnbc, companies, kong, roche, economy, hong, beijing, dont, national, settled, analyst, hand, celebrations, china, protests, crushed, ahead, trade, talks


Hong Kong protests will be 'settled or crushed' ahead of China national celebrations, analyst says

The months-long protests in Hong Kong could come to an end soon, according to strategist David Roche, who said they will “be settled or crushed” before October 1 — the 70th anniversary of China’s National Day.

The way China responds to the situation in the city is crucial in determining how markets and U.S.-China trade talks will be affected, he told CNBC on Friday.

In fact, the politics go hand in hand with the Chinese economy, Roche said.

“I don’t accept this will be a small scale problem in a larger China economy. The reason I don’t is because I believe any intervention (from Beijing) to Hong Kong will be immediately, umbilically, linked to what happens to trade talks and international relations globally,” said Roche, who is president at research and investment consulting firm Independent Strategy.

Roche said “Beijing has to weigh in on two things: the political and economic cause.”


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: grace shao
Keywords: news, cnbc, companies, kong, roche, economy, hong, beijing, dont, national, settled, analyst, hand, celebrations, china, protests, crushed, ahead, trade, talks


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Trump to discuss Taliban talks, withdrawing troops from Afghanistan

U.S. President Donald Trump on Friday was to meet U.S. top advisers about negotiations with the Taliban and the potential for a political settlement that could prompt a withdrawal of American troops from Afghanistan, a senior administration official said. Senator Lindsey Graham of South Carolina, a Trump ally, said any deal should allow for the United States to maintain a presence in Afghanistan. “Any peace agreement which denies the U.S. a robust counter-terrorism capability in Afghanistan is n


U.S. President Donald Trump on Friday was to meet U.S. top advisers about negotiations with the Taliban and the potential for a political settlement that could prompt a withdrawal of American troops from Afghanistan, a senior administration official said. Senator Lindsey Graham of South Carolina, a Trump ally, said any deal should allow for the United States to maintain a presence in Afghanistan. “Any peace agreement which denies the U.S. a robust counter-terrorism capability in Afghanistan is n
Trump to discuss Taliban talks, withdrawing troops from Afghanistan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: kevin breuninger, dan mangan
Keywords: news, cnbc, companies, withdrawal, troops, american, trump, withdrawing, negotiations, agreement, afghanistan, talks, discuss, taliban, united


Trump to discuss Taliban talks, withdrawing troops from Afghanistan

U.S. President Donald Trump on Friday was to meet U.S. top advisers about negotiations with the Taliban and the potential for a political settlement that could prompt a withdrawal of American troops from Afghanistan, a senior administration official said.

On a working vacation at his golf club in Bedminster, New Jersey, Trump was to receive an afternoon briefing from U.S. Secretary of State Mike Pompeo and other advisers to get updated on the talks, which have been handled by Special Representative Zalmay Khalilzad.

The U.S. military presence in Afghanistan dates to 2001 when then-President George W. Bush launched an offensive against Al Qaeda, which the Taliban government had given haven to, after the Sept. 11, 2001, attacks.

Trump has been adamant that he would like to withdraw U.S. forces, possibly ahead of the November 2020 election, although a pullout would raise concerns among some in the national security community that the United States could be sacrificing gains it has made there.

U.S. Senator Lindsey Graham of South Carolina, a Trump ally, said any deal should allow for the United States to maintain a presence in Afghanistan.

“Any peace agreement which denies the U.S. a robust counter-terrorism capability in Afghanistan is not a peace deal,” he said in a statement. “Instead, it is paving the way for another attack on the American homeland and attacks against American interests around the world.”

The senior administration official said a decision was not necessarily expected from the Bedminster meeting, but Trump “has been pretty clear that he wants to bring the troops home.”

The negotiations with the Taliban have been centered around a potential agreement for a U.S. troop withdrawal and talks on a political settlement between the insurgents and a delegation comprising government officials, opposition leaders and civil society members.

Khalilzad also has pressed in nine rounds of negotiations in Qatar for the Taliban to renounce al Qaida, agree to prevent Afghanistan from being use as a base for extremist attacks and embrace a nationwide ceasefire while the intra-Afghan talks continue.

Both sides raised expectations that an agreement was close. Khalilzad repeatedly has said nothing is agreed until everything is agreed.


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: kevin breuninger, dan mangan
Keywords: news, cnbc, companies, withdrawal, troops, american, trump, withdrawing, negotiations, agreement, afghanistan, talks, discuss, taliban, united


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Gun control groups spend over $2 million on ads since recent mass shootings, while NRA talks to Trump

Demonstrators protest the visit of US President Donald Trump to the site of the mass shooting in Dayton, Ohio, on August 7, 2019. Gun control advocacy groups have dedicated more than $2 million on digital and TV ads, widely outspending the National Rifle Association, since the mass shootings weeks ago in California, Texas and Ohio that left more than 30 dead. Gun control advocates say the NRA may not spend as much for lobbying going forward because they have Trump’s ear. Everytown for Gun Safety


Demonstrators protest the visit of US President Donald Trump to the site of the mass shooting in Dayton, Ohio, on August 7, 2019. Gun control advocacy groups have dedicated more than $2 million on digital and TV ads, widely outspending the National Rifle Association, since the mass shootings weeks ago in California, Texas and Ohio that left more than 30 dead. Gun control advocates say the NRA may not spend as much for lobbying going forward because they have Trump’s ear. Everytown for Gun Safety
Gun control groups spend over $2 million on ads since recent mass shootings, while NRA talks to Trump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: brian schwartz
Keywords: news, cnbc, companies, spent, ads, gun, million, control, mass, spend, shootings, recent, nra, ad, tv, groups, shooting, trump, talks


Gun control groups spend over $2 million on ads since recent mass shootings, while NRA talks to Trump

Demonstrators protest the visit of US President Donald Trump to the site of the mass shooting in Dayton, Ohio, on August 7, 2019.

Gun control advocacy groups have dedicated more than $2 million on digital and TV ads, widely outspending the National Rifle Association, since the mass shootings weeks ago in California, Texas and Ohio that left more than 30 dead.

Everytown for Gun Safety — funded mostly by Michael Bloomberg, the billionaire and former New York mayor — is leading the way with a $935,000 ad campaign. Its digital and TV ads call on Congress to require tougher background checks for gun sales along with strong red-flag laws, which are meant to take firearms away from those deemed a threat to themselves or others.

The NRA has spent just $14,000 on Facebook ads since last week. Instead, the group focused its recent advocacy on tweeting and being in direct contact with President Donald Trump.

Gun control advocates say the NRA may not spend as much for lobbying going forward because they have Trump’s ear.

“There is not a response from them to counter the overwhelming push from the American people, politicians and activists on this issue,” said Andrew Patrick, media director at the Coalition to Stop Gun Violence. “In the past, they get their lobbying going. Now they can call the president and he can prepare their talking points.”

The spate of shootings has given organizations calling for tighter gun laws new momentum, particularly as big-money backers such as Bloomberg look to counter the decades-long influence the NRA has exerted on Capitol Hill.

Everytown for Gun Safety’s campaign focuses largely on Republican senators who have resisted calls for tighter gun control. They include Senate Majority Leader Mitch McConnell, of Kentucky, and Sens. Marco Rubio and Rick Scott, both of Florida, Richard Burr, of North Carolina, and John Cornyn, of Texas. Most of these lawmakers have previously received NRA contributions. The ads will start airing next week and will continue through the August recess.

Shannon Watts, founder of Moms Demand Action for Gun Sense in America, which is part of the Everytown group, says Senate lawmakers will have to listen or expect to face tough reelection battles.

“We’re hopeful that the Senate will act, but if they don’t there will be hell to pay in 2020,” Watts told CNBC on Thursday. “We are having our events in all 50 states, and it’s really important that senators in red, blue and purple states listen to these constituents,” she added. The organization is also spending $65,000 on nationwide rallies that are scheduled to take place this weekend.

A Fox News poll taken Aug. 11-13 showed that 90% of participants support requiring all potential gun buyers to go through a criminal background check, while 81% said they’d like red-flag laws.

Sandy Hook Promise, a nonprofit organization created by the families of victims of the 2012 gun massacre at an elementary school in Connecticut, has spent just over $300,000 on Facebook ads since Aug. 7, according to the company’s ad library. The most recent ad shows a boy named Dylan, who was killed during the mass shooting, and calls on Congress to limit the size of gun magazines.

Only billionaire and presidential candidate Tom Steyer, with more than $900,000 in ads over the past seven days, has spent more than Sandy Hook Promise on Facebook ads.

Ban Assault Weapons NOW, a nonprofit whose leadership includes survivors of various mass shootings, has spent just over $90,000 on ads since this summer’s mass shootings. Its latest message calls for people to sign its petition urging a ban on assault weapons in Florida. It also criticizes Congress for its inaction on gun laws and its members’ ties to the NRA.

A gun control advocacy group founded by former Rep. Gabrielle Giffords, who was shot in the head during a mass shooting in Arizona in 2011, has launched a $750,000 TV ad campaign. It will call for McConnell and Sen. Cory Gardner, of Colorado, to support background-check legislation.

While the NRA hasn’t spent much recently, it has used other means to get its message across.


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: brian schwartz
Keywords: news, cnbc, companies, spent, ads, gun, million, control, mass, spend, shootings, recent, nra, ad, tv, groups, shooting, trump, talks


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Pivotal Software surges 60% after VMware says it’s in talks to acquire the company

President of the New York Stock Exchange Thomas Farley and executives from Pivotal Software ring the opening bell at the New York Stock Exchange April 20, 2018. VMware also said in a regulatory filing that it has requested that Dell exchange all outstanding shares of Pivotal’s class B stock, other than class B Pivotal shares owned by VMware, for Class A VMware stock. On June 5 Pivotal stock declined 41% after the company issued guidance that was below what analysts were expecting. As a result of


President of the New York Stock Exchange Thomas Farley and executives from Pivotal Software ring the opening bell at the New York Stock Exchange April 20, 2018. VMware also said in a regulatory filing that it has requested that Dell exchange all outstanding shares of Pivotal’s class B stock, other than class B Pivotal shares owned by VMware, for Class A VMware stock. On June 5 Pivotal stock declined 41% after the company issued guidance that was below what analysts were expecting. As a result of
Pivotal Software surges 60% after VMware says it’s in talks to acquire the company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: jordan novet
Keywords: news, cnbc, companies, agreement, pivotal, shares, pivotals, outstanding, acquire, company, dell, talks, vmware, surges, software, stock, class, 60, exchange


Pivotal Software surges 60% after VMware says it's in talks to acquire the company

President of the New York Stock Exchange Thomas Farley and executives from Pivotal Software ring the opening bell at the New York Stock Exchange April 20, 2018.

Pivotal shares rose as much as 72% in extended trading on Wednesday after VMware said it’s proceeding with an agreement to acquire all outstanding shares of Pivotal’s class A stock at $15 per share in cash, an 80.7% premium on Pivotal’s $8.30 closing price.

VMware also said in a regulatory filing that it has requested that Dell exchange all outstanding shares of Pivotal’s class B stock, other than class B Pivotal shares owned by VMware, for Class A VMware stock. Dell controlled almost 81% of VMware’s outstanding common stock and more than 97% of the combined voting power of VMware’s outstanding stock as of May 3. Dell and Pivotal are negotiating an exchange ratio for the shares.

The transaction could contribute to the further diversification of VMware, which has moved to collaborate with cloud infrastructure providers like Amazon in order to enable existing customers to run their computing workloads in whatever environment they like.

Shares of Pivotal have declined 66% in the past year. On June 5 Pivotal stock declined 41% after the company issued guidance that was below what analysts were expecting.

Pivotal went public in April 2018. VMware and DellEMC both contributed assets when Pivotal was established in 2013.

As a result of an agreement with Dell, VMware is the selling agent for certain Pivotal products, such that VMware collects cash that is then remitted to Pivotal, net of a contractual agency fee. As of May 3, VMware had a 16% financial interest in Pivotal and a 24% voting interest in the company.

In a statement of its own, Pivotal said on Wednesday that although it is in talks with VMware about a “potential business combination,” an agreement has not been made.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: jordan novet
Keywords: news, cnbc, companies, agreement, pivotal, shares, pivotals, outstanding, acquire, company, dell, talks, vmware, surges, software, stock, class, 60, exchange


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European stocks close lower amid trade war worries; Tullow Oil up 20%

Banks were the biggest fallers, led by a 5% slide for CYBG, while chemicals stocks were the best performers. Trade talks are set to resume in Washington in early September after a new 10% tariff on an additional $300 billion worth of Chinese goods comes into effect on September 1. President Donald Trump told reporters on Friday that the U.S. is not ready to strike a trade deal with China just yet. AMS stock plunged almost 12% while Osram shares leaped over 10% on the news. Meanwhile, Tullow Oil


Banks were the biggest fallers, led by a 5% slide for CYBG, while chemicals stocks were the best performers. Trade talks are set to resume in Washington in early September after a new 10% tariff on an additional $300 billion worth of Chinese goods comes into effect on September 1. President Donald Trump told reporters on Friday that the U.S. is not ready to strike a trade deal with China just yet. AMS stock plunged almost 12% while Osram shares leaped over 10% on the news. Meanwhile, Tullow Oil
European stocks close lower amid trade war worries; Tullow Oil up 20% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: elliot smith
Keywords: news, cnbc, companies, tullow, peso, close, amid, lower, set, european, osram, shares, worries, chinese, war, stoxx, president, trade, oil, stocks, talks


European stocks close lower amid trade war worries; Tullow Oil up 20%

The pan-European Stoxx 600 closed provisionally down nearly 0.3%. The index had posted an almost 1% gain earlier in the session. Banks were the biggest fallers, led by a 5% slide for CYBG, while chemicals stocks were the best performers.

The People’s Bank of China set the official midpoint reference for its yuan currency at 7.0211 per dollar on Monday, exceeding the psychological barrier of 7 per dollar for the third consecutive session.

Trade talks are set to resume in Washington in early September after a new 10% tariff on an additional $300 billion worth of Chinese goods comes into effect on September 1. President Donald Trump told reporters on Friday that the U.S. is not ready to strike a trade deal with China just yet.

On Wall Street, stocks fell as investor sentiment was knocked by concerns around slowing global economic growth. Goldman Sachs said on Sunday that fears of a recession as a result of the trade war are increasing, and the investment bank no longer expects a trade deal before the 2020 U.S. presidential election.

Elsewhere, the Argentinian peso sold off steeply Monday after the country’s center-right President Mauricio Macri performed poorly in primary elections.

Macri lost by a far greater margin than expected on Sunday, early official results showed, casting serious doubt over the incumbent’s re-election chances in October. The peso slipped more than 30% at one stage to a record low as traders demanded 65 to the U.S. dollar.

Hong Kong was also in focus as tensions between Chinese authorities and protesters escalated. Hong Kong International Airport, one of the world’s busiest terminals, was forced to cancel all departures on Monday amid mass disruption due to anti-government protests.

Back in Europe, Trump’s national security advisor John Bolton arrived in London Sunday for talks where he is expected to urge Britain to take a tougher stance on Iran and Chinese telecommunications firm Huawei.

Investors will also have an eye on political developments in Italy after Deputy Prime Minister Matteo Salvini’s Lega party filed a no-confidence motion to bring down the government on Friday.

In corporate news, Apple supplier AMS said Sunday that it has made an all-cash takeover offer of 38.5 euros ($43.15) per share for German lighting group Osram Licht. AMS stock plunged almost 12% while Osram shares leaped over 10% on the news.

Meanwhile, Tullow Oil shares surged 20% to lead the Stoxx 600 after it announced a major oil discovery in Guyana.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: elliot smith
Keywords: news, cnbc, companies, tullow, peso, close, amid, lower, set, european, osram, shares, worries, chinese, war, stoxx, president, trade, oil, stocks, talks


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CBS and Viacom negotiating share exchange ratio between 0.5960 and 0.5965 for merger

CBS and Viacom are finalizing their merger agreement, negotiating a share exchange ratio between 0.5960 and 0.5965, people familiar with the matter said. An exchange ratio of about .59625 — the midpoint of the narrow range — would value Viacom at nearly $12 billion with an enterprise value of more than $20 billion. CBS will exchange its shares for each Viacom Class B share. Viacom shares were down about 3.3% Monday morning, trading within the exchange ratio range. CBS shares were down less than


CBS and Viacom are finalizing their merger agreement, negotiating a share exchange ratio between 0.5960 and 0.5965, people familiar with the matter said. An exchange ratio of about .59625 — the midpoint of the narrow range — would value Viacom at nearly $12 billion with an enterprise value of more than $20 billion. CBS will exchange its shares for each Viacom Class B share. Viacom shares were down about 3.3% Monday morning, trading within the exchange ratio range. CBS shares were down less than
CBS and Viacom negotiating share exchange ratio between 0.5960 and 0.5965 for merger Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: alex sherman
Keywords: news, cnbc, companies, cbs, negotiating, share, ratio, merger, viacom, exchange, shares, range, talks, value, rights, 05965, 05960


CBS and Viacom negotiating share exchange ratio between 0.5960 and 0.5965 for merger

CBS and Viacom are finalizing their merger agreement, negotiating a share exchange ratio between 0.5960 and 0.5965, people familiar with the matter said.

The negotiations could finish as soon as Monday, the sources said, adding that the deal could be announced in the afternoon or Tuesday morning. The talks are ongoing, and nothing has been finalized, the people said.

An exchange ratio of about .59625 — the midpoint of the narrow range — would value Viacom at nearly $12 billion with an enterprise value of more than $20 billion. CBS will exchange its shares for each Viacom Class B share.

Viacom shares were down about 3.3% Monday morning, trading within the exchange ratio range. CBS shares were down less than 1%.

CBS and Viacom declined to comment.

A merger will add movie studio Paramount Pictures, cable networks such as Comedy Central, MTV, Nickelodeon and BET and assets including the streaming service Pluto TV and South Park Studios to CBS, which owns the eponymous broadcast network and other cable and media assets.

Shari Redstone, whose National Amusements is the principal owner of both companies, has advocated for a deal to give a combined company more financial heft to compete against media and tech heavyweights including Amazon and Apple for entertainment and sports rights, most notably the National Football League. CBS owns NFL broadcast rights until 2022 and “will do what is necessary” to renew them, according to CBS Sports chief Sean McManus.

CBS and Viacom nearly merged a year ago before a rift over who would run the combined company derailed discussions. Viacom also scrapped plans to merge with CBS in 2016.

The companies restarted merger talks in earnest this year after CBS replaced six members of its board of directors and its CEO, Les Moonves, in September. Moonves stepped down as chairman and CEO amid sexual misconduct allegations. Discussions have dragged on throughout the year as the new CBS board has become more comfortable with the idea of merging with Viacom rather than pursuing other paths.

This story is developing.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: alex sherman
Keywords: news, cnbc, companies, cbs, negotiating, share, ratio, merger, viacom, exchange, shares, range, talks, value, rights, 05965, 05960


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Trump signals new meeting with North Korea’s Kim

President Donald Trump meets with North Korean leader Kim Jong Un at the demilitarized zone separating the two Koreas, in Panmunjom, South Korea, June 30, 2019. President Donald Trump said on Friday he has received a “very beautiful letter” on Thursday from North Korean leader Kim Jong Un and added that he could have another meeting with him. North Korea has been testing missiles despite a June 30 meeting between Trump and Kim at which the two agreed to revive stalled working-level talks, which


President Donald Trump meets with North Korean leader Kim Jong Un at the demilitarized zone separating the two Koreas, in Panmunjom, South Korea, June 30, 2019. President Donald Trump said on Friday he has received a “very beautiful letter” on Thursday from North Korean leader Kim Jong Un and added that he could have another meeting with him. North Korea has been testing missiles despite a June 30 meeting between Trump and Kim at which the two agreed to revive stalled working-level talks, which
Trump signals new meeting with North Korea’s Kim Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-09
Keywords: news, cnbc, companies, trump, kim, koreas, missile, talks, korea, north, leader, tests, nuclear, signals, meeting


Trump signals new meeting with North Korea's Kim

President Donald Trump meets with North Korean leader Kim Jong Un at the demilitarized zone separating the two Koreas, in Panmunjom, South Korea, June 30, 2019.

President Donald Trump said on Friday he has received a “very beautiful letter” on Thursday from North Korean leader Kim Jong Un and added that he could have another meeting with him.

Speaking to reporters, Trump did not say when such a meeting would take place. North Korea has been testing missiles despite a June 30 meeting between Trump and Kim at which the two agreed to revive stalled working-level talks, which have yet to resume.

Trump and Kim have met three times since last year to discuss ways to resolve a crisis over North Korea’s nuclear and missile programs, but progress has been scant on Washington’s aim of getting the North Korea leader to give up his weapons.

The recent missile tests have raised questions about the future of dialogue. Pyongyang has warned of a possible end to its freeze of nuclear and long-range missile tests in place since 2017. Trump has repeatedly pointed to that freeze as evidence of the success of more than a year of engagement with Kim.

Keen to tout his North Korea policy as a success ahead of his 2020 reelection bid, Trump has sought to play down the missile launches, saying they do not violate Kim’s pledge to forego nuclear and long-range tests.

U.S. Secretary of State Mike Pompeo said on Wednesday he was hopeful talks would resume in coming and that the U.S. side was planning for negotiations in a couple of weeks.

A summit between Trump and Kim in Hanoi in February collapsed over a failure to narrow differences over U.S. demands for North Korea to give up all of its nuclear weapons and Pyongyang’s demands for relief from punishing sanctions.


Company: cnbc, Activity: cnbc, Date: 2019-08-09
Keywords: news, cnbc, companies, trump, kim, koreas, missile, talks, korea, north, leader, tests, nuclear, signals, meeting


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