Iran starts Gulf war games, to test submarine-launched missiles

Iran on Friday began large-scale naval drills at the mouth of the Gulf, which will feature its first submarine cruise missile launches, state media reported, at a time of rising tensions with the United States. More than 100 vessels were taking part in the three-day war games in a vast area stretching from the Strait of Hormuz to the Indian Ocean, the state news agency IRNA reported. “The exercise will cover confronting a range of threats, testing weapons, and evaluating the readiness of equipme


Iran on Friday began large-scale naval drills at the mouth of the Gulf, which will feature its first submarine cruise missile launches, state media reported, at a time of rising tensions with the United States. More than 100 vessels were taking part in the three-day war games in a vast area stretching from the Strait of Hormuz to the Indian Ocean, the state news agency IRNA reported. “The exercise will cover confronting a range of threats, testing weapons, and evaluating the readiness of equipme
Iran starts Gulf war games, to test submarine-launched missiles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: stringer, afp, getty images
Keywords: news, cnbc, companies, missiles, iran, gulf, starts, war, submarinelaunched, state, launches, test, testing, khanzadi, cruise, carried, missile, games, media, submarine


Iran starts Gulf war games, to test submarine-launched missiles

Iran on Friday began large-scale naval drills at the mouth of the Gulf, which will feature its first submarine cruise missile launches, state media reported, at a time of rising tensions with the United States.

More than 100 vessels were taking part in the three-day war games in a vast area stretching from the Strait of Hormuz to the Indian Ocean, the state news agency IRNA reported.

“The exercise will cover confronting a range of threats, testing weapons, and evaluating the readiness of equipment and personnel,” navy commander Rear Admiral Hossein Khanzadi, said in remarks carried by state television.

“Submarine missile launches will be carried out … in addition to helicopter and drone launches from the deck of the Sahand destroyer,” Khanzadi said.

State media said Iran would be testing its new domestically built Fateh (Conqueror) submarine which is armed with cruise missiles and was launched last week.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: stringer, afp, getty images
Keywords: news, cnbc, companies, missiles, iran, gulf, starts, war, submarinelaunched, state, launches, test, testing, khanzadi, cruise, carried, missile, games, media, submarine


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China banks: Record lending shows stimulus is kicking in, analysts say

New loans in China surged to a record high in January — and analysts say it could be a sign that government stimulus is “finally kicking in,” which may be good news for the economy. The slowdown was in part due to official efforts to reduce alarmingly high debt levels which started three years ago. Clamping down on credit, in particular non-traditional forms of lending known as “shadow banking,” suppressed economic activity and pushed growth lower. But the onset of the tariff war with the United


New loans in China surged to a record high in January — and analysts say it could be a sign that government stimulus is “finally kicking in,” which may be good news for the economy. The slowdown was in part due to official efforts to reduce alarmingly high debt levels which started three years ago. Clamping down on credit, in particular non-traditional forms of lending known as “shadow banking,” suppressed economic activity and pushed growth lower. But the onset of the tariff war with the United
China banks: Record lending shows stimulus is kicking in, analysts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: kelly olsen, tomohiro ohsumi, bloomberg, getty images
Keywords: news, cnbc, companies, analysts, taxes, tariff, china, shows, record, kicking, worlds, slowdown, war, stimulus, taking, yearsthe, banks, united, growth, high, lending, say


China banks: Record lending shows stimulus is kicking in, analysts say

New loans in China surged to a record high in January — and analysts say it could be a sign that government stimulus is “finally kicking in,” which may be good news for the economy.

The world’s second-largest economy expanded 6.6 percent in 2018, the slowest growth in 28 years.

The slowdown was in part due to official efforts to reduce alarmingly high debt levels which started three years ago. Clamping down on credit, in particular non-traditional forms of lending known as “shadow banking,” suppressed economic activity and pushed growth lower.

But the onset of the tariff war with the United States and the pace of the slowdown forced a rethink. Last year, authorities began taking steps to encourage banks to lend more, cut taxes and support small- and medium-sized companies.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: kelly olsen, tomohiro ohsumi, bloomberg, getty images
Keywords: news, cnbc, companies, analysts, taxes, tariff, china, shows, record, kicking, worlds, slowdown, war, stimulus, taking, yearsthe, banks, united, growth, high, lending, say


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Supreme Court considers whether giant World War I memorial cross can stay

If the U.S. Supreme Court took a light touch on cultural issues following the contentious confirmation hearings of Justice Brett Kavanaugh this fall, the period of restraint didn’t last long. The justices next week are set to hear arguments over whether a giant, four-story World War I memorial cross located in a busy Maryland intersection and maintained by the government can remain standing. The litigation concerns a 40-foot-tall, 16-ton cross-shaped memorial to veterans of the first World War.


If the U.S. Supreme Court took a light touch on cultural issues following the contentious confirmation hearings of Justice Brett Kavanaugh this fall, the period of restraint didn’t last long. The justices next week are set to hear arguments over whether a giant, four-story World War I memorial cross located in a busy Maryland intersection and maintained by the government can remain standing. The litigation concerns a 40-foot-tall, 16-ton cross-shaped memorial to veterans of the first World War.
Supreme Court considers whether giant World War I memorial cross can stay Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: tucker higgins, eric baradat, afp, getty images
Keywords: news, cnbc, companies, court, supreme, justice, considers, war, religious, cross, memorial, monument, took, stay, giant, veterans, world, case


Supreme Court considers whether giant World War I memorial cross can stay

If the U.S. Supreme Court took a light touch on cultural issues following the contentious confirmation hearings of Justice Brett Kavanaugh this fall, the period of restraint didn’t last long.

The justices next week are set to hear arguments over whether a giant, four-story World War I memorial cross located in a busy Maryland intersection and maintained by the government can remain standing.

The case, which touches at the core of the First Amendment’s Establishment Clause, is the most significant dispute over a public monument to reach the top court since Chief Justice John Roberts took the helm.

It comes before the court in the wake of controversial orders connected to abortion and a Muslim inmate’s religious rights during execution, and just a month after the justices said they would hear their first major gun-control case in nearly a decade.

The case also comes amid heightened focus on the First Amendment. Earlier this month, Chief Justice John Roberts declared himself “the most aggressive defender” of the First Amendment in public remarks, while Justice Clarence Thomas took aim at one of the court’s most important press freedom rulings.

The litigation concerns a 40-foot-tall, 16-ton cross-shaped memorial to veterans of the first World War. The cross sits at the entrance to the town of Bladensburg, where it has been since 1925. Its maintenance is funded by a government agency that has spent just over $100,000 on the monument since 1985.

Opponents of the cross say it violates the Constitution’s wall of separation between government and religion. They include humanists, whose philosophy rejects theism, and Jewish veterans.

In 2014, the American Humanist Association and several local humanists challenged the monument, arguing that the cross demonstrated government favoritism of Christianity over other religions. They say that the monument must be transferred to private property or reshaped into an obelisk by lopping off its crossbar.

The American Legion and the Maryland-National Capital Park and Planning Commission are arguing that the monument should stay. The cross, though it incorporates religious imagery, is a “powerful symbol of the fallen,” they say.

Lined up behind the defenders of the cross are a host of veterans groups and more than 80 members of Congress, including two dozen U.S. senators led by Republican Ted Cruz of Texas, as well as more than two dozen U.S. states.

In a brief, the lawmakers quote a 1952 Establishment Clause case to argue that they were elected to represent “religious people whose institutions presuppose a Supreme Being.”

The lawmakers and others defending the cross said that an unfavorable ruling could jeopardize hundreds of monuments across the country, such as the Ground Zero Cross in Manhattan and prominent crosses in Arlington National Cemetery.

Meanwhile, a Jewish veterans group has told the court that for Jewish veterans, the memorial serves as a “reminder of the promise of salvation that they do not accept and from which they are excluded.”

“No one would think that a war memorial consisting of a large Star of David was intended to honor the sacrifice of Christian soldiers,” they wrote.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: tucker higgins, eric baradat, afp, getty images
Keywords: news, cnbc, companies, court, supreme, justice, considers, war, religious, cross, memorial, monument, took, stay, giant, veterans, world, case


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US and China are said to be outlining deal to end trade war

One source cautioned that the talks could still end in failure. The United States has accused Beijing of forcing U.S. companies doing business in China to share their technology with local partners and hand over intellectual property secrets. On currency, U.S. officials including Mnuchin have warned China against devaluing its yuan to gain a competitive advantage after the Chinese currency weakened significantly against the dollar last year, partly counteracting Trump’s tariffs. Reuters reported


One source cautioned that the talks could still end in failure. The United States has accused Beijing of forcing U.S. companies doing business in China to share their technology with local partners and hand over intellectual property secrets. On currency, U.S. officials including Mnuchin have warned China against devaluing its yuan to gain a competitive advantage after the Chinese currency weakened significantly against the dollar last year, partly counteracting Trump’s tariffs. Reuters reported
US and China are said to be outlining deal to end trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: jim watson, afp, getty images
Keywords: news, cnbc, companies, source, practices, reviews, deal, war, china, including, states, outlining, end, united, talks, officials, trade


US and China are said to be outlining deal to end trade war

The MOUs cover the most complex issues affecting the trading relationship between the two countries and are meant, from the U.S. perspective, to end the practices that led Trump to start levying duties on Chinese imports in the first place.

One source cautioned that the talks could still end in failure. But the work on the MOUs was a significant step in getting China to sign up both to broad principles and to specific commitments on key issues, he said.

The United States has accused Beijing of forcing U.S. companies doing business in China to share their technology with local partners and hand over intellectual property secrets. China denies it engages in such practices.

Trump administration officials also object to non-tariff barriers in China, including industrial subsidies, regulations, business licensing procedures, product standards reviews and other practices that they say keep U.S. goods out of China or give an unfair advantage to domestic firms.

U.S. Treasury Secretary Steven Mnuchin has pushed for China to open its financial services markets to more foreign firms, including credit card giants Visa and MasterCard, which have waited years for China to make good on promises to allow them to operate there.

On currency, U.S. officials including Mnuchin have warned China against devaluing its yuan to gain a competitive advantage after the Chinese currency weakened significantly against the dollar last year, partly counteracting Trump’s tariffs.

The two sides were discussing an enforcement mechanism for the deal, the source said. Reuters reported last month that the United States was pushing for regular reviews of China’s progress on pledged trade reforms and could reinstate tariffs if it deems Beijing has violated the agreement.

The parties also were looking at a 10-item list of ways that China could reduce its trade surplus with the United States, including by buying agricultural produce, energy and goods such as semiconductors, according to two other sources familiar with the talks.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: jim watson, afp, getty images
Keywords: news, cnbc, companies, source, practices, reviews, deal, war, china, including, states, outlining, end, united, talks, officials, trade


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AP Moller-Maersk Q4 earnings: US-China trade war cited as headwind

Danish shipping group A.P. Moller-Maersk reported fourth-quarter earnings in line with expectations on Thursday, but warned a long-running trade conflict between the world’s two largest economies could hamper growth in 2019. Earnings before interest, tax, depreciation and amortization (EBITDA) came in at $1.12 billion for the final three months of 2018, above the $1.07 billion forecast by analysts in a Reuters poll. The company said it expects EBITDA as calculated under International Financial R


Danish shipping group A.P. Moller-Maersk reported fourth-quarter earnings in line with expectations on Thursday, but warned a long-running trade conflict between the world’s two largest economies could hamper growth in 2019. Earnings before interest, tax, depreciation and amortization (EBITDA) came in at $1.12 billion for the final three months of 2018, above the $1.07 billion forecast by analysts in a Reuters poll. The company said it expects EBITDA as calculated under International Financial R
AP Moller-Maersk Q4 earnings: US-China trade war cited as headwind Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: sam meredith, balint porneczi, bloomberg, getty images
Keywords: news, cnbc, companies, mollermaersk, worlds, uschina, 2018, q4, financial, company, ap, ebitda, cited, earnings, headwind, growth, war, billion, trade


AP Moller-Maersk Q4 earnings: US-China trade war cited as headwind

Danish shipping group A.P. Moller-Maersk reported fourth-quarter earnings in line with expectations on Thursday, but warned a long-running trade conflict between the world’s two largest economies could hamper growth in 2019.

Earnings before interest, tax, depreciation and amortization (EBITDA) came in at $1.12 billion for the final three months of 2018, above the $1.07 billion forecast by analysts in a Reuters poll.

Shares of the company slipped more than 9 percent after results.

The company said it expects EBITDA as calculated under International Financial Reporting Standards (IFRS) for this year of around $5 billion.

“Although we had a challenging start to 2018, looking at our financial performance, we increased earnings despite significantly higher bunker fuel prices and lower than expected container volume growth in the second half of 2018,” Soren Skou, CEO of A.P. Moller-Maersk, said in a statement on Thursday.

“However, profitability needs to improve,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: sam meredith, balint porneczi, bloomberg, getty images
Keywords: news, cnbc, companies, mollermaersk, worlds, uschina, 2018, q4, financial, company, ap, ebitda, cited, earnings, headwind, growth, war, billion, trade


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US and China are said to be outlining deal to end trade war

One source cautioned that the talks could still end in failure. The United States has accused Beijing of forcing U.S. companies doing business in China to share their technology with local partners and hand over intellectual property secrets. On currency, U.S. officials including Mnuchin have warned China against devaluing its yuan to gain a competitive advantage after the Chinese currency weakened significantly against the dollar last year, partly counteracting Trump’s tariffs. Reuters reported


One source cautioned that the talks could still end in failure. The United States has accused Beijing of forcing U.S. companies doing business in China to share their technology with local partners and hand over intellectual property secrets. On currency, U.S. officials including Mnuchin have warned China against devaluing its yuan to gain a competitive advantage after the Chinese currency weakened significantly against the dollar last year, partly counteracting Trump’s tariffs. Reuters reported
US and China are said to be outlining deal to end trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: jim watson, afp, getty images
Keywords: news, cnbc, companies, source, practices, reviews, deal, war, china, including, states, outlining, end, united, talks, officials, trade


US and China are said to be outlining deal to end trade war

The MOUs cover the most complex issues affecting the trading relationship between the two countries and are meant, from the U.S. perspective, to end the practices that led Trump to start levying duties on Chinese imports in the first place.

One source cautioned that the talks could still end in failure. But the work on the MOUs was a significant step in getting China to sign up both to broad principles and to specific commitments on key issues, he said.

The United States has accused Beijing of forcing U.S. companies doing business in China to share their technology with local partners and hand over intellectual property secrets. China denies it engages in such practices.

Trump administration officials also object to non-tariff barriers in China, including industrial subsidies, regulations, business licensing procedures, product standards reviews and other practices that they say keep U.S. goods out of China or give an unfair advantage to domestic firms.

U.S. Treasury Secretary Steven Mnuchin has pushed for China to open its financial services markets to more foreign firms, including credit card giants Visa and MasterCard, which have waited years for China to make good on promises to allow them to operate there.

On currency, U.S. officials including Mnuchin have warned China against devaluing its yuan to gain a competitive advantage after the Chinese currency weakened significantly against the dollar last year, partly counteracting Trump’s tariffs.

The two sides were discussing an enforcement mechanism for the deal, the source said. Reuters reported last month that the United States was pushing for regular reviews of China’s progress on pledged trade reforms and could reinstate tariffs if it deems Beijing has violated the agreement.

The parties also were looking at a 10-item list of ways that China could reduce its trade surplus with the United States, including by buying agricultural produce, energy and goods such as semiconductors, according to two other sources familiar with the talks.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: jim watson, afp, getty images
Keywords: news, cnbc, companies, source, practices, reviews, deal, war, china, including, states, outlining, end, united, talks, officials, trade


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‘Captain Marvel’ presale tickets have already outpaced those of ‘Wonder Woman’

“Captain Marvel” is pacing just behind “Avengers: Infinity War” and “Black Panther” as the third top seller of all Marvel Cinematic Universe titles during that same time frame. Strong presales of “Captain Marvel” tickets is a good sign for Disney, which owns Marvel Studios, as “Infinity War” and “Black Panther” collectively brought in more than $1.38 billion at the U.S. box office alone in 2018. “‘Captain Marvel’ has a great ’90s sci-fi vibe with a tone unlike any other Marvel movie,” Erik Davis


“Captain Marvel” is pacing just behind “Avengers: Infinity War” and “Black Panther” as the third top seller of all Marvel Cinematic Universe titles during that same time frame. Strong presales of “Captain Marvel” tickets is a good sign for Disney, which owns Marvel Studios, as “Infinity War” and “Black Panther” collectively brought in more than $1.38 billion at the U.S. box office alone in 2018. “‘Captain Marvel’ has a great ’90s sci-fi vibe with a tone unlike any other Marvel movie,” Erik Davis
‘Captain Marvel’ presale tickets have already outpaced those of ‘Wonder Woman’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: sarah whitten, marvel studios
Keywords: news, cnbc, companies, superhero, woman, presale, tickets, captain, film, outpaced, weekend, weeks, infinity, marvel, war, ticket, wonder


'Captain Marvel' presale tickets have already outpaced those of 'Wonder Woman'

“Captain Marvel” is pacing just behind “Avengers: Infinity War” and “Black Panther” as the third top seller of all Marvel Cinematic Universe titles during that same time frame.

Strong presales of “Captain Marvel” tickets is a good sign for Disney, which owns Marvel Studios, as “Infinity War” and “Black Panther” collectively brought in more than $1.38 billion at the U.S. box office alone in 2018. Globally, the two films grossed more than $2.2 billion.

“‘Captain Marvel’ has a great ’90s sci-fi vibe with a tone unlike any other Marvel movie,” Erik Davis, managing editor at Fandango, said Thursday. “It’s one of the most unique superhero origin stories we’ve ever seen. With surging advance ticket sales, thanks partially to the positive critics’ reactions from this week’s first screenings, it’s clear that this ‘Cap’ has the right stuff when it comes to moviegoer appeal.”

“Wonder Woman” was always going to be the benchmark for comparison when it came to the theatrical debut of “Captain Marvel.” At the time of its release, “Wonder Woman” was the first female-led superhero film in more than a decade. It earned $103 million in its opening weekend, a feat “Captain Marvel” hopes to beat on March 8.

Analysts have predicted an opening weekend box-office haul of more than $100 million for “Captain Marvel,” with some seeing the film taking in north of $120 million.

“Captain Marvel” arrives nearly a year after the cliffhanger ending to “Avengers: Infinity War” teased that the heroine is the most powerful superhero and the only one who could take on villain Thanos.

The reviews for the film, which is just two weeks away, have begun to trickle in but have yet to be translated into a Rotten Tomatoes score. Disney’s marketing — a number of teaser trailers — and nearly a year of pent-up curiosity and anticipation seem to be enough to drive ticket sales.

The presale figure is particularly impressive considering Carol Danvers is a relatively unknown character to non-comic readers and won’t be part of an already established ensemble such as the Avengers.

Disclosure: CNBC parent Comcast owns Fandango and Universal Pictures.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: sarah whitten, marvel studios
Keywords: news, cnbc, companies, superhero, woman, presale, tickets, captain, film, outpaced, weekend, weeks, infinity, marvel, war, ticket, wonder


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European markets open slightly higher amid US-China trade talks

Market focus is largely attuned to global trade developments, after officials from the U.S. and China launched a new round of negotiations on Tuesday. A follow-up session of higher-level talks is expected later in the week, as both sides look to resolve the long-running trade war before a March 1 deadline. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, advanced almost 1 percent — hitting its highest level since early October. Glencore, Lloyds Banking Group and Fresenius are all e


Market focus is largely attuned to global trade developments, after officials from the U.S. and China launched a new round of negotiations on Tuesday. A follow-up session of higher-level talks is expected later in the week, as both sides look to resolve the long-running trade war before a March 1 deadline. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, advanced almost 1 percent — hitting its highest level since early October. Glencore, Lloyds Banking Group and Fresenius are all e
European markets open slightly higher amid US-China trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: sam meredith
Keywords: news, cnbc, companies, uschina, slightly, war, european, week, higher, publish, expected, worth, trade, deal, wednesdayon, president, markets, amid, open, talks


European markets open slightly higher amid US-China trade talks

Market focus is largely attuned to global trade developments, after officials from the U.S. and China launched a new round of negotiations on Tuesday.

A follow-up session of higher-level talks is expected later in the week, as both sides look to resolve the long-running trade war before a March 1 deadline.

Last week, President Donald Trump suggested he might extend the deadline for a deal, which would stop an immediate increase in tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent.

MSCI’s broadest index of Asia-Pacific shares, excluding Japan, advanced almost 1 percent — hitting its highest level since early October.

Back in Europe, investors are likely to monitor another batch of earnings reports. Glencore, Lloyds Banking Group and Fresenius are all expected to publish their latest quarterly results on Wednesday.

On the data front, the euro area is scheduled to publish a flash reading of consumer confidence for February at around 3:00 p.m. London time.

Meanwhile, U.K. Prime Minister Theresa May visits Brussels, Belgium to meet European Commission President Jean-Claude Juncker. The meeting comes as May continues with her bid to renegotiate her Brexit deal with the bloc, with less than 38 days to go before the country leaves the European Union.


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: sam meredith
Keywords: news, cnbc, companies, uschina, slightly, war, european, week, higher, publish, expected, worth, trade, deal, wednesdayon, president, markets, amid, open, talks


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US-China trade war: Deal needs enforcement, says Chamber of Commerce

Pledges from Beijing to buy more American goods and fix some economic structural issues are meaningless victories for the U.S. if Donald Trump’s administration doesn’t also create ways to enforce a trade agreement with China, according to a top official from the U.S. Chamber of Commerce. That comes as Chinese negotiators ready for the next round of trade talks, set to begin Tuesday in Washington. “Without enforcement, this deal fails,” he told CNBC’s Eunice Yoon in Beijing. Enforcement mechanism


Pledges from Beijing to buy more American goods and fix some economic structural issues are meaningless victories for the U.S. if Donald Trump’s administration doesn’t also create ways to enforce a trade agreement with China, according to a top official from the U.S. Chamber of Commerce. That comes as Chinese negotiators ready for the next round of trade talks, set to begin Tuesday in Washington. “Without enforcement, this deal fails,” he told CNBC’s Eunice Yoon in Beijing. Enforcement mechanism
US-China trade war: Deal needs enforcement, says Chamber of Commerce Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: huileng tan, mark schiefelbein, pool
Keywords: news, cnbc, companies, trade, tariffs, enforcement, brilliant, war, commerce, beijing, needs, uschina, deal, china, according, need, chamber, trumps


US-China trade war: Deal needs enforcement, says Chamber of Commerce

Pledges from Beijing to buy more American goods and fix some economic structural issues are meaningless victories for the U.S. if Donald Trump’s administration doesn’t also create ways to enforce a trade agreement with China, according to a top official from the U.S. Chamber of Commerce.

That comes as Chinese negotiators ready for the next round of trade talks, set to begin Tuesday in Washington. So far, reports indicate, the two countries have found common ground on China decreasing its trade surplus with the U.S. through more purchases, but sticking points remain on issues such as intellectual property theft and the subsidies Beijing gives to its domestic firms.

Still, even if Trump’s team can realize its goals on those fronts, it will all come down to whether both countries actually live up to their commitments, according to Myron Brilliant, executive vice president and head of international affairs at the U.S. Chamber of Commerce.

“Without enforcement, this deal fails,” he told CNBC’s Eunice Yoon in Beijing. “Implementation and enforcement are going to be two key elements — so you need to have implementation, you need to have follow-through, but you need to have enforcement mechanisms that will ensure that both sides have trust that this deal is sustaining and verifiable.”

Enforcement mechanisms could include a “snapback” in tariffs if China doesn’t live up to the terms of the deal, he said. Another option, according to Brilliant, would be for the U.S. to “delay the reduction of tariffs being reduced from 10 percent down to zero” contingent on Beijing’s adherence to the agreement.

Such measures are unlikely to be well received by the Chinese negotiators, and multiple media reports indicate that remains one of the biggest sticking points in the ongoing discussion. Still, Brilliant emphasized that the business community is hoping some sort of agreement will come together.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: huileng tan, mark schiefelbein, pool
Keywords: news, cnbc, companies, trade, tariffs, enforcement, brilliant, war, commerce, beijing, needs, uschina, deal, china, according, need, chamber, trumps


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There’s a pizza price war going on, and Papa John’s is likely to be the big loser, Stifel says

Papa John’s investors will be disappointed in the near term as sales struggle, according to one Wall Street analyst. Stifel reduced its 2019 earnings per share estimate to 80 cents from $1.20 — well below the Wall Street consensus estimate of $1.19 — and cut its price target for the stock to $35. The new price target represents 22 percent downside from Friday’s close of $45.26. Papa John’s said Starboard CEO Jeffrey Smith will become its chairman following the fund’s investment in the form of a


Papa John’s investors will be disappointed in the near term as sales struggle, according to one Wall Street analyst. Stifel reduced its 2019 earnings per share estimate to 80 cents from $1.20 — well below the Wall Street consensus estimate of $1.19 — and cut its price target for the stock to $35. The new price target represents 22 percent downside from Friday’s close of $45.26. Papa John’s said Starboard CEO Jeffrey Smith will become its chairman following the fund’s investment in the form of a
There’s a pizza price war going on, and Papa John’s is likely to be the big loser, Stifel says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: thomas franck, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, theres, stifel, stock, loser, transactions, wrote, wall, price, war, target, johns, papa, value, going, street, likely, pizza


There's a pizza price war going on, and Papa John's is likely to be the big loser, Stifel says

Papa John’s investors will be disappointed in the near term as sales struggle, according to one Wall Street analyst.

Stifel’s Chris O’Cull downgraded the stock to sell from hold on Monday and wrote that the company’s recent promotions suggest the embattled pizza maker is struggling to compete for customers in the face of low-price deals at rivals Dominos, Pizza Hut and Little Caesars. For the restaurant chain to bolster sales, the analyst believes it will need to commit to subsidizing franchisees, a direct threat to earnings over the next few years.

“In order for Papa John’s to drive transactions we believe it will need to commit to an everyday low price menu that will probably hurt franchisees’ profits until consumer perception of its value changes,” O’Cull wrote. “These offers are clearly designed to drive transactions, but to be successful they must increase transactions enough to offset the dollar impact of the discount, otherwise the results lower store margin percentage and dollars.”

Stifel reduced its 2019 earnings per share estimate to 80 cents from $1.20 — well below the Wall Street consensus estimate of $1.19 — and cut its price target for the stock to $35. The new price target represents 22 percent downside from Friday’s close of $45.26.

The downgrade comes about two weeks after the company announced a $200 million investment by activist hedge fund Starboard Value. Papa John’s said Starboard CEO Jeffrey Smith will become its chairman following the fund’s investment in the form of a convertible stock purchase of 11 to 15 percent.

Activist investors typically accumulate stakes in companies they believe are undervalued and encourage executives to adopt changes they think will boost returns for shareholders. Such demands can range from board seats and CEO replacement to an entire sale of the business.

Papa John’s stock was unchanged in premarket trading Tuesday.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: thomas franck, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, theres, stifel, stock, loser, transactions, wrote, wall, price, war, target, johns, papa, value, going, street, likely, pizza


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