Exec explains what Chinese insurance giant Ping An is looking for in investments

Financial technology and digital health are two key investment areas for one of China’s largest insurance companies, according to a senior executive. Ping An is a major finance conglomerate in China, doing business in insurance, banking, investment and technology. Larsen, a former Citi banker, is also chairman and CEO for the Global Voyager Fund and manages it out of Hong Kong. Larsen explained that the objective of the fund is to make investments that give Ping An strategic access to technologi


Financial technology and digital health are two key investment areas for one of China’s largest insurance companies, according to a senior executive. Ping An is a major finance conglomerate in China, doing business in insurance, banking, investment and technology. Larsen, a former Citi banker, is also chairman and CEO for the Global Voyager Fund and manages it out of Hong Kong. Larsen explained that the objective of the fund is to make investments that give Ping An strategic access to technologi
Exec explains what Chinese insurance giant Ping An is looking for in investments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: saheli roy choudhury, ore huiying, bloomberg, getty images
Keywords: news, cnbc, companies, investments, global, technologies, investment, health, insurance, explains, giant, company, chinese, fund, ping, digital, exec, technology, looking


Exec explains what Chinese insurance giant Ping An is looking for in investments

Financial technology and digital health are two key investment areas for one of China’s largest insurance companies, according to a senior executive.

Ping An is a major finance conglomerate in China, doing business in insurance, banking, investment and technology. Last year, the Shenzhen-based company launched its $1 billion Global Voyager Fund to invest in start-ups outside its home market in a major overseas push. That put it in direct competition with tech giants Alibaba and Tencent — both of which have invested widely in foreign markets.

The Global Voyage Fund is “a billion-dollar fund focused on fintech and digital health, which are two of the most important areas for our company,” Ping An Insurance Group Chief Innovation Officer Jonathan Larsen told CNBC’s Nancy Hungerford on Saturday at the IMF and World Bank annual meetings in Bali, Indonesia.

Larsen, a former Citi banker, is also chairman and CEO for the Global Voyager Fund and manages it out of Hong Kong.

“We’re finding really very interesting opportunities right now,” he said, pointing particularly to health-related areas including digital imaging, X-rays and brain scans. “We’re working with a company right now that can identify 30 diseases with an AI algorithm by scanning the back of your eye.”

“These technologies have transformative power, not just in emerging markets but actually all over the world,” he added.

Larsen explained that the objective of the fund is to make investments that give Ping An strategic access to technologies that can create value for the company. The investment opportunities that interest him are less about “putting lots and lots of capital to build up a user base,” and more about an “asset-light model where (Ping An) can be a technology enabler.”

The idea, Larsen said, is to make the technologies behind Ping An’s facial and voice recognition, digital lending, credit scoring and fraud scoring available to other companies around the world.

Last month, the fund invested in an Israel-based start-up, MeMed Diagnostics, that is trying to prevent the misuse of antibiotics. Its previous investments include a U.S. and Israel-based health care start-up called TytoCare and a London-based fintech company called 10X Future Technologies.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: saheli roy choudhury, ore huiying, bloomberg, getty images
Keywords: news, cnbc, companies, investments, global, technologies, investment, health, insurance, explains, giant, company, chinese, fund, ping, digital, exec, technology, looking


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Dubai to trial a self-driving taxi service

Dubai’s Roads and Transport Authority (RTA) has unveiled what it describes as the region’s first autonomous taxi. Bahrozyan said that a three month trial run of the vehicle would start toward the end of 2018 on designated routes. “The driver’s service can be called in when the vehicle experiences a potential technical glitch by pressing a button, which shifts the operation from autonomous driving to the human driving mode.” In August 2018, for example, the Hyundai Motor Company announced that th


Dubai’s Roads and Transport Authority (RTA) has unveiled what it describes as the region’s first autonomous taxi. Bahrozyan said that a three month trial run of the vehicle would start toward the end of 2018 on designated routes. “The driver’s service can be called in when the vehicle experiences a potential technical glitch by pressing a button, which shifts the operation from autonomous driving to the human driving mode.” In August 2018, for example, the Hyundai Motor Company announced that th
Dubai to trial a self-driving taxi service Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: anmar frangoul, caowei, moment, getty images
Keywords: news, cnbc, companies, selfdriving, taxi, rta, truck, transport, autonomous, dubai, service, technology, potential, driving, 40, kilometers, vehicle, trial


Dubai to trial a self-driving taxi service

Dubai’s Roads and Transport Authority (RTA) has unveiled what it describes as the region’s first autonomous taxi.

In a statement Sunday, the RTA said the technology underscored its commitment to enhance the Dubai government’s strategy to turn 25 percent of mass transit journeys in the emirate into autonomous ones by 2030.

Ahmed Bahrozyan, CEO of the RTA’s Public Transport Agency, said that the vehicle featured “high safety and security standards” and was able to monitor objects that had the potential to trigger collisions.

Bahrozyan said that a three month trial run of the vehicle would start toward the end of 2018 on designated routes.

“The vehicle can drive at a speed of up to 35km (kilometers) per hour and can accommodate four riders including a standby driver in the cabin,” he added.

“The driver’s service can be called in when the vehicle experiences a potential technical glitch by pressing a button, which shifts the operation from autonomous driving to the human driving mode.”

As technology develops, a number of “self-driving” milestones are being reached in countries around the world.

In August 2018, for example, the Hyundai Motor Company announced that the first journey by an autonomous truck on a highway in South Korea had taken place.

The auto firm’s Xcient truck, which has a maximum load capacity of 40 tons, drove around 40 kilometers between Uiwang and Incheon.

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Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: anmar frangoul, caowei, moment, getty images
Keywords: news, cnbc, companies, selfdriving, taxi, rta, truck, transport, autonomous, dubai, service, technology, potential, driving, 40, kilometers, vehicle, trial


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Festival of Marketing: Tom Goodwin on a changing world

Festival of Marketing: Tom Goodwin on a changing world6 Hours AgoThe EVP of Zenith tells MMM that we shouldn’t focus too much on gimmicks but marketers should be aware of how technology changes consumer behaviour


Festival of Marketing: Tom Goodwin on a changing world6 Hours AgoThe EVP of Zenith tells MMM that we shouldn’t focus too much on gimmicks but marketers should be aware of how technology changes consumer behaviour
Festival of Marketing: Tom Goodwin on a changing world Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15
Keywords: news, cnbc, companies, zenith, mmm, hours, festival, shouldnt, technology, goodwin, world6, tells, world, marketers, marketing, tom, changing


Festival of Marketing: Tom Goodwin on a changing world

Festival of Marketing: Tom Goodwin on a changing world

6 Hours Ago

The EVP of Zenith tells MMM that we shouldn’t focus too much on gimmicks but marketers should be aware of how technology changes consumer behaviour


Company: cnbc, Activity: cnbc, Date: 2018-10-15
Keywords: news, cnbc, companies, zenith, mmm, hours, festival, shouldnt, technology, goodwin, world6, tells, world, marketers, marketing, tom, changing


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UPS opens new packaging facility as it tries to keep up with a surge in online shopping

United Parcel Service said Monday that it was opening its second largest U.S. ground package processing facility in Atlanta as the delivery company seeks to boost capacity at a time when more people are shopping online. This new site will process roughly 100,000 parcels per hour using more efficient technologies, UPS said, adding that the facility will create 3,000 new jobs in Atlanta. In February, UPS said that it would invest about $7 billion in new technology, aircraft and automating faciliti


United Parcel Service said Monday that it was opening its second largest U.S. ground package processing facility in Atlanta as the delivery company seeks to boost capacity at a time when more people are shopping online. This new site will process roughly 100,000 parcels per hour using more efficient technologies, UPS said, adding that the facility will create 3,000 new jobs in Atlanta. In February, UPS said that it would invest about $7 billion in new technology, aircraft and automating faciliti
UPS opens new packaging facility as it tries to keep up with a surge in online shopping Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: falyn page, mark elias, bloomberg, getty images
Keywords: news, cnbc, companies, sites, using, tries, online, technologies, facility, site, surge, opens, technology, ups, billion, ecommerce, united, shopping, packaging


UPS opens new packaging facility as it tries to keep up with a surge in online shopping

United Parcel Service said Monday that it was opening its second largest U.S. ground package processing facility in Atlanta as the delivery company seeks to boost capacity at a time when more people are shopping online.

This new site will process roughly 100,000 parcels per hour using more efficient technologies, UPS said, adding that the facility will create 3,000 new jobs in Atlanta.

In February, UPS said that it would invest about $7 billion in new technology, aircraft and automating facilities in 2018.

The shipping company’s network has come under pressure as consumers order more packages from Amazon and other e-commerce sites. Deloitte has predicted e-commerce sales could reach as much as $134 billion this holiday season, compared with about $110 billion a year ago.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: falyn page, mark elias, bloomberg, getty images
Keywords: news, cnbc, companies, sites, using, tries, online, technologies, facility, site, surge, opens, technology, ups, billion, ecommerce, united, shopping, packaging


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Former White House economic advisor Gary Cohn joins blockchain start-up

Former White House economic advisor Gary Cohn is finally unveiling his next career move: blockchain. Cohn, who left the Trump administration in March, will join start-up Spring Labs as an advisor, the company announced in a press release Friday. The firm uses blockchain technology to share credit data between banks. “I am excited to actively support the Spring Labs team in the development of this important business and network.” Will McDonough, who was hired by Cohn at Goldman Sachs, is also run


Former White House economic advisor Gary Cohn is finally unveiling his next career move: blockchain. Cohn, who left the Trump administration in March, will join start-up Spring Labs as an advisor, the company announced in a press release Friday. The firm uses blockchain technology to share credit data between banks. “I am excited to actively support the Spring Labs team in the development of this important business and network.” Will McDonough, who was hired by Cohn at Goldman Sachs, is also run
Former White House economic advisor Gary Cohn joins blockchain start-up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: kate rooney, getty images
Keywords: news, cnbc, companies, technology, goldman, blockchain, economic, white, gary, joins, advisor, spring, financial, startup, company, information, house, cohn, sachs, labs


Former White House economic advisor Gary Cohn joins blockchain start-up

Former White House economic advisor Gary Cohn is finally unveiling his next career move: blockchain.

Cohn, who left the Trump administration in March, will join start-up Spring Labs as an advisor, the company announced in a press release Friday. The firm uses blockchain technology to share credit data between banks.

The former Goldman Sachs president told the Financial Times, which first reported the news, that this was a “unique opportunity,” and “an obvious place to take a very, very analogue industry and digitize.” Cohn has made very few public appearances since leaving the administration, and this is one of the first reports of his next job.

“I have been very interested in blockchain technology for a number of years, and Spring Labs is developing a network that could have profound implications for the financial services sector, among others,” Cohn said in a press release Friday. “I am excited to actively support the Spring Labs team in the development of this important business and network.”

The 20-person start-up uses blockchain, the technology that underpins cryptocurrencies such as bitcoin, to swap credit and identity information between banks and corporations. The task of safely transferring consumer credit information has plagued companies such as Equifax, which was hacked earlier this year, subsequently unveiling the private information of 143 million Americans.

Spring Labs has raised about $15 million to date in seed funding, according to Pitchbook. Other advisory board members include Bobby Mehta, former CEO of Transunion, and Brian Brooks, chief legal officer at cryptocurrency company Coinbase. The company was founded by members of the team and board of lending platform Avant.

Cohn was a key player in drafting the GOP tax reform package, which was voted through Congress and signed by President Donald Trump late last year. He left the White House following disagreements over plans to implement aluminum and steel tariffs.

Cohn isn’t the first executive to go from Wall Street to the new frontier of blockchain. Former head of J.P. Morgan global commodities Blythe Masters is now CEO of a blockchain company, and Goldman Sachs alumni Matthew Goetz started a cryptocurrency hedge fund. Will McDonough, who was hired by Cohn at Goldman Sachs, is also running a blockchain firm called iCash.

While cryptocurrency has been a punching bag for some Wall Street CEOs, its underlying technology is widely applauded and some compare its potential to the internet. Others are still skeptical. Economist Nouriel Roubini, one of the few who predicted the 2008 financial crisis, told senators in a hearing this week that “blockchain is the most over-hyped — and least useful — technology in human history.”


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: kate rooney, getty images
Keywords: news, cnbc, companies, technology, goldman, blockchain, economic, white, gary, joins, advisor, spring, financial, startup, company, information, house, cohn, sachs, labs


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Navigating fintech’s rise: IMF, World Bank launch guide for policymakers

The International Monetary Fund and the World Bank jointly released a paper that will guide policymakers around the world in their handling of the rise of financial technology — commonly known as fintech. The paper, called the Bali Fintech Agenda, was launched on Thursday on the Indonesian island where the IMF and the World Bank are holding their annual meetings. Fintech has the potential to reach the 1.7 billion adults in the world that don’t have access to financial services, IMF Managing Dire


The International Monetary Fund and the World Bank jointly released a paper that will guide policymakers around the world in their handling of the rise of financial technology — commonly known as fintech. The paper, called the Bali Fintech Agenda, was launched on Thursday on the Indonesian island where the IMF and the World Bank are holding their annual meetings. Fintech has the potential to reach the 1.7 billion adults in the world that don’t have access to financial services, IMF Managing Dire
Navigating fintech’s rise: IMF, World Bank launch guide for policymakers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: yen nee lee
Keywords: news, cnbc, companies, policymakers, navigating, bank, fintechs, technology, financial, work, paper, services, world, launch, fintech, systems, imf, rise, guide


Navigating fintech's rise: IMF, World Bank launch guide for policymakers

The International Monetary Fund and the World Bank jointly released a paper that will guide policymakers around the world in their handling of the rise of financial technology — commonly known as fintech.

The paper, called the Bali Fintech Agenda, was launched on Thursday on the Indonesian island where the IMF and the World Bank are holding their annual meetings.

The paper outlines 12 “elements” or considerations that the IMF, the World Bank and governments can keep in mind when designing policies and regulations that can maximize the benefits of fintech while keeping financial systems sound.

Those “elements” include using fintech to promote financial inclusion, allowing new technology players to have level playing fields with existing companies and having countries work together to protect the global financial system.

Fintech has the potential to reach the 1.7 billion adults in the world that don’t have access to financial services, IMF Managing Director Christine Lagarde said in a statement.

But, new technology could threaten existing financial systems. For example, volatility in the price of cryptocurrencies has raised concerns about investor protection, according to the paper.

“Fintech can have a major social and economic impact for them and across the membership in general. All countries are trying to reap these benefits, while also mitigating the risks,” Lagarde said.

“We need greater international cooperation to achieve that, and to make sure the fintech revolution benefits the many and not just the few,” she added.

World Bank Group President Jim Yong Kim said fintech would be particularly helpful to low-income countries, where access to financial services is low.

Both organizations said the paper doesn’t represent current work, nor does it aim to provide specific guidance or policy advice. They will, however, start to develop specific programs on fintech.

The IMF will focus initially on the implications on monetary and financial stability and how international monetary systems and global financial safety nets evolve. The World Bank will work on using fintech to deepen financial markets, enhance responsible access to financial services, and improve cross-border payments and remittance transfer systems.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: yen nee lee
Keywords: news, cnbc, companies, policymakers, navigating, bank, fintechs, technology, financial, work, paper, services, world, launch, fintech, systems, imf, rise, guide


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Secular trends haven’t changed overnight, so don’t fear tech stocks, portfolio manager says

Volatility is spooking tech investors, but Eaton Vance’s Yana Barton says the secular trends powering technology’s rise haven’t changed overnight. Technology stocks regained ground lost earlier in premarket trading Thursday, after getting clobbered by the worst day in over seven years on Wednesday. “Brace yourself” for more selling in technology stocks, he said on CNBC’s “Squawk Box.” But Barton said the “tech wreck” is overblown and underlying growth trends haven’t really changed. The unlikelie


Volatility is spooking tech investors, but Eaton Vance’s Yana Barton says the secular trends powering technology’s rise haven’t changed overnight. Technology stocks regained ground lost earlier in premarket trading Thursday, after getting clobbered by the worst day in over seven years on Wednesday. “Brace yourself” for more selling in technology stocks, he said on CNBC’s “Squawk Box.” But Barton said the “tech wreck” is overblown and underlying growth trends haven’t really changed. The unlikelie
Secular trends haven’t changed overnight, so don’t fear tech stocks, portfolio manager says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: chloe aiello
Keywords: news, cnbc, companies, manager, growth, facebook, trends, havent, secular, earnings, really, portfolio, dont, barton, technology, overnight, tech, rates, fear, stocks


Secular trends haven't changed overnight, so don't fear tech stocks, portfolio manager says

Volatility is spooking tech investors, but Eaton Vance’s Yana Barton says the secular trends powering technology’s rise haven’t changed overnight.

“I recognize that volatility is uncomfortable, but it is par for the course in higher growth and higher beta areas of the market, because they’ve done so well,” Barton, portfolio manager and vice president at Eaton Vance Management, said on CNBC’s “Power Lunch.”

Technology stocks regained ground lost earlier in premarket trading Thursday, after getting clobbered by the worst day in over seven years on Wednesday. The Technology Select SPDR Fund, which tracks the S&P 500 technology sector, was up 1.2 percent in trading, recovering after being down as much as 1.4 percent in premarket. The SPDR Fund is down about 4.6 percent this week. The S&P 500 Information Technology Index fell 4.8 percent on Wednesday, closing at $1,220.62, marking the biggest decline since Aug. 18, 2011, when it dropped 5.3 percent.

Early on Thursday morning, top tech analyst turned venture capitalist Gene Munster warned that tech giants, including Netflix, Amazon and Facebook, could see another big “step down” of 5 percent.

“Brace yourself” for more selling in technology stocks, he said on CNBC’s “Squawk Box.”

But Barton said the “tech wreck” is overblown and underlying growth trends haven’t really changed.

“Ubiquitous computing and long-term secular trends of connected devices, autonomous driving — none of those things have changed overnight. We still believe in the secular growth stories, and many of them reside within the tech space, and some of them reside within the new communications services space,” Barton said.

The unlikeliest of the FAANG stocks — Facebook, Amazon, Apple, Netflix and Google — even got an upgrade from CFRA yesterday, after a session of volatility. Scott Kessler, CFRA analyst and director of equity research, said the firm decided to upgrade Facebook to “buy” from “hold,” because there is still growth potential there.

“We really think a lot of the bad news is in the stock,” Kessler said. “We have a lot more growth, there is a big balance sheet.”

And while Kessler says there is still upside to Facebook’s stock, the key to CFRA’s thesis is that Facebook isn’t actually a growth stock anymore.

“When you look at Facebook, the questions really aren’t around valuation at this point. It’s really more around the fundamental story, how bad is revenue deceleration and revenue compression going to be?” Kessler said. “You have a lot of people leaning, we think, in the wrong direction ahead of earnings, and that’s why we went positive.”

Rising interest rates have put pressure on equities, leading experts to speculate that rising interest rates may have created a tipping point for stocks, where the decade-long investment theme favoring growth over value is changing.

But Barton said it is important to remember that rising rates have long been a concern, and it’s really earnings that will indicate pricing going forward.

Secular trends “are not going to end with us talking about rising rates. We’ve been talking about rising rates for months, if not years,” she said.

“We are looking at earnings; earnings ultimately are the leading indicator to price, and that is what we will be watching as earnings continue to unfold,” Barton added.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: chloe aiello
Keywords: news, cnbc, companies, manager, growth, facebook, trends, havent, secular, earnings, really, portfolio, dont, barton, technology, overnight, tech, rates, fear, stocks


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Tech shares recover some premarket losses as interest rates fall

Technology stocks regained ground lost earlier in premarket trading Thursday, after getting clobbered by the worst day in over seven years on Wednesday. Rising rates make high stock multiples of growth technology stocks less attractive because investors use U.S. government bond yields as their “risk-free” discount rate in financial models to value equities. Shares of Netflix closed down 1.5 percent, moving off a decline of 2.7 percent in premarket trading. Technology Select SPDR Fund, which trac


Technology stocks regained ground lost earlier in premarket trading Thursday, after getting clobbered by the worst day in over seven years on Wednesday. Rising rates make high stock multiples of growth technology stocks less attractive because investors use U.S. government bond yields as their “risk-free” discount rate in financial models to value equities. Shares of Netflix closed down 1.5 percent, moving off a decline of 2.7 percent in premarket trading. Technology Select SPDR Fund, which trac
Tech shares recover some premarket losses as interest rates fall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michael sheetz
Keywords: news, cnbc, companies, shares, losses, fall, spdr, trading, recover, stock, sp, premarket, investors, interest, sector, technology, market, tech, rates, stocks


Tech shares recover some premarket losses as interest rates fall

Technology stocks regained ground lost earlier in premarket trading Thursday, after getting clobbered by the worst day in over seven years on Wednesday.

U.S. consumer prices rose less than expected in September. The index, a key economic indicator released at 8:30 a.m. ET, showed underlying inflation appeared to slow down. Rising rates make high stock multiples of growth technology stocks less attractive because investors use U.S. government bond yields as their “risk-free” discount rate in financial models to value equities.

Shares of Netflix closed down 1.5 percent, moving off a decline of 2.7 percent in premarket trading. Amazon and Nvidia also both sunk, down 2 percent and 4.3 percent, respectively. Stock of Twitter and Facebook rose slightly, while Apple slid 1.9 percent.

Technology Select SPDR Fund, which tracks the S&P 500 technology sector, closed down 0.7 percent, recovering after being down as much as 1.4 percent in premarket. The SPDR Fund is down about 4.6 percent this week.

The S&P 500 Information Technology Index fell 4.8 percent on Wednesday, closing at $1,220.62, marking the biggest decline since August 18, 2011 when it dropped 5.3 percent.

The largest U.S. companies by market capitalization are among those falling in the tech sector. These stocks have also been the biggest contributors to the extended market rally. Apple and Amazon are both up sharply this year, as investors have bet the companies will continue to deliver earnings growth and gain greater market share.

Amazon and Netflix technically fall in different sectors but investors were selling anything tech-related in the current market rout.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michael sheetz
Keywords: news, cnbc, companies, shares, losses, fall, spdr, trading, recover, stock, sp, premarket, investors, interest, sector, technology, market, tech, rates, stocks


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Tech stocks have their worst day since August 2011

Technology stocks got clobbered on Wednesday, suffering their worst day in more than seven years, as concerns over rising interest rates punished the overall market, particularly shares of companies that have been the best performers. The S&P 500 Information Technology Index closed at $1,220.62, down 4.8 percent, marking the biggest decline since August 18, 2011, when the index dropped 5.3 percent. All 65 members of the index fell. The broader S&P 500 dropped by 3.3 percent and the Dow Jones Ind


Technology stocks got clobbered on Wednesday, suffering their worst day in more than seven years, as concerns over rising interest rates punished the overall market, particularly shares of companies that have been the best performers. The S&P 500 Information Technology Index closed at $1,220.62, down 4.8 percent, marking the biggest decline since August 18, 2011, when the index dropped 5.3 percent. All 65 members of the index fell. The broader S&P 500 dropped by 3.3 percent and the Dow Jones Ind
Tech stocks have their worst day since August 2011 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: jordan novet, fred imbert, adam jeffery
Keywords: news, cnbc, companies, suffering, tumbled, 2011, technology, index, 500, worst, dropped, day, shares, tech, sp, stocks


Tech stocks have their worst day since August 2011

Technology stocks got clobbered on Wednesday, suffering their worst day in more than seven years, as concerns over rising interest rates punished the overall market, particularly shares of companies that have been the best performers.

The S&P 500 Information Technology Index closed at $1,220.62, down 4.8 percent, marking the biggest decline since August 18, 2011, when the index dropped 5.3 percent. All 65 members of the index fell. The broader S&P 500 dropped by 3.3 percent and the Dow Jones Industrial Average tumbled 3.2 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: jordan novet, fred imbert, adam jeffery
Keywords: news, cnbc, companies, suffering, tumbled, 2011, technology, index, 500, worst, dropped, day, shares, tech, sp, stocks


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Amid China trade war, US moves to broaden review of foreign investment

The Trump administration announced a plan that could put additional restrictions on foreign investment in U.S. companies. The expanded review includes transactions in which the foreign investor would get nonpublic technical information, a place on the board of directors, or involvement in decision-making. The move is yet another bid to punish Beijing over its trade practices, The New York Times reported on Wednesday. Already this federal panel, called the Committee on Foreign Investment in the U


The Trump administration announced a plan that could put additional restrictions on foreign investment in U.S. companies. The expanded review includes transactions in which the foreign investor would get nonpublic technical information, a place on the board of directors, or involvement in decision-making. The move is yet another bid to punish Beijing over its trade practices, The New York Times reported on Wednesday. Already this federal panel, called the Committee on Foreign Investment in the U
Amid China trade war, US moves to broaden review of foreign investment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: liz moyer, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, broaden, trade, moves, review, investment, trump, china, treasury, technology, cfius, foreign, war, times, amid


Amid China trade war, US moves to broaden review of foreign investment

The Trump administration announced a plan that could put additional restrictions on foreign investment in U.S. companies.

The Treasury said Wednesday it is expanding the power of a federal panel to review foreign investments beyond takeovers and controlling stakes to include noncontrolling stakes in U.S. businesses that are involved in technology that could be deemed critical to national security. The expanded review includes transactions in which the foreign investor would get nonpublic technical information, a place on the board of directors, or involvement in decision-making.

This applies to businesses in several industries, including telecommunications, semiconductors and computers.

The move is yet another bid to punish Beijing over its trade practices, The New York Times reported on Wednesday.

Already this federal panel, called the Committee on Foreign Investment in the United States, or Cfius, has been actively reviewing foreign takeovers of U.S. companies to make sure national security concerns are protected. Earlier this year, Cfius blocked Singapore-based Broadcom’s attempted takeover of U.S.-based chipmaker Qualcomm.

The Trump administration has been trying to prevent China from getting emerging technologies such as 5G, the next generation of wireless. President Donald Trump has been critical of China’s trade practices, which he says restrict access to certain markets and force American firms doing business there to hand over valuable technology and trade secrets.

This comes on top of tariffs the U.S. has slapped on some $250 billion of Chinese imports. China has retaliated with its own set of tariffs on U.S. goods.

Trump had considered putting a set of sweeping investment restrictions on China but decided to go along with a plan to grant Cfius broader review power, a win for Treasury Secretary Steven Mnuchin, who had been working behind the scenes to diffuse the trade spat, the Times reported.

Read the Times story here.


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: liz moyer, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, broaden, trade, moves, review, investment, trump, china, treasury, technology, cfius, foreign, war, times, amid


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