IMF’s Lipton warns that volatility hasn’t left markets yet

The IMF’s David Lipton has told CNBC that the current swing to a dovish tone from global central banks should not lead investors to believe that market volatility will just disappear. Markets sold off heavily towards the end of 2018, spooked by the U.S.-Sino trade spat and the suggestion that the Federal Reserve was set to press ahead with interest rate rises. Sluggish data and tepid inflation in 2019 has led central banks around the world to reevaluate their interest rate strategies and stimulu


The IMF’s David Lipton has told CNBC that the current swing to a dovish tone from global central banks should not lead investors to believe that market volatility will just disappear. Markets sold off heavily towards the end of 2018, spooked by the U.S.-Sino trade spat and the suggestion that the Federal Reserve was set to press ahead with interest rate rises. Sluggish data and tepid inflation in 2019 has led central banks around the world to reevaluate their interest rate strategies and stimulu
IMF’s Lipton warns that volatility hasn’t left markets yet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: david reid
Keywords: news, cnbc, companies, left, volatility, imfs, world, led, central, lipton, washington, interest, warns, investors, markets, banks, rate


IMF's Lipton warns that volatility hasn't left markets yet

The IMF’s David Lipton has told CNBC that the current swing to a dovish tone from global central banks should not lead investors to believe that market volatility will just disappear.

Markets sold off heavily towards the end of 2018, spooked by the U.S.-Sino trade spat and the suggestion that the Federal Reserve was set to press ahead with interest rate rises.

Sluggish data and tepid inflation in 2019 has led central banks around the world to reevaluate their interest rate strategies and stimulus policies. That change in rhetoric has led to a bump up for stocks as investors predict a longer period of cheap cash.

“It is correct for capital markets to take their cue from central banks but I think they shouldn’t assume that volatility has gone forever just because central banks are in an accommodative posture,” said Lipton at the Spring Meetings of the International Monetary Fund and the World Bank Group in Washington D.C. on Thursday.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: david reid
Keywords: news, cnbc, companies, left, volatility, imfs, world, led, central, lipton, washington, interest, warns, investors, markets, banks, rate


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Jeff Bezos warns Amazon will have ‘multibillion-dollar failures’

Amazon CEO Jeff Bezos warned on Thursday that the company will have large, failed experiments. “Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures,” Bezos said in his annual shareholder letter. Bezos mentioned the creation of the Amazon Fire phone and Echo, which developed around the same time. Bezos’ letter seems to be a warning that not all of these big bets will work out. Amazon’s new brick-and-mortar stores were ment


Amazon CEO Jeff Bezos warned on Thursday that the company will have large, failed experiments. “Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures,” Bezos said in his annual shareholder letter. Bezos mentioned the creation of the Amazon Fire phone and Echo, which developed around the same time. Bezos’ letter seems to be a warning that not all of these big bets will work out. Amazon’s new brick-and-mortar stores were ment
Jeff Bezos warns Amazon will have ‘multibillion-dollar failures’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: jessica bursztynsky, joshua roberts
Keywords: news, cnbc, companies, letter, failures, plans, amazon, bezos, mentioned, scale, warns, work, company, jeff, multibilliondollar, bets, phone


Jeff Bezos warns Amazon will have 'multibillion-dollar failures'

Amazon CEO Jeff Bezos warned on Thursday that the company will have large, failed experiments.

“Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures,” Bezos said in his annual shareholder letter. “We will work hard to make them good bets, but not all good bets will ultimately pay out.”

As the company grows, he said, it only makes sense for their failures to grow at a larger scale. Bezos mentioned the creation of the Amazon Fire phone and Echo, which developed around the same time.

The former, he said, was a “failure.” Amazon discontinued the phone in 2015 and took a $170 million write-off.

“(We) were able to take our learnings (as well as the developers) and accelerate our efforts building Echo and Alexa,” Bezos said.

The annual letter has been published since 1997 and is often looked at for glimpses into the company’s long-term plans. This year’s focus was on the growth of third-party sellers, up 4% from last year in comparison to the company’s first-party sales.

“We could not foresee with certainty what those programs would eventually look like, let alone whether they would succeed, but they were pushed forward with intuition and heart, and nourished with optimism,” Bezos said.

Amazon has plans to increase its reach into new sectors like health care, health insurance, internet delivery from outer space and even consumer robotics. Bezos’ letter seems to be a warning that not all of these big bets will work out.

Amazon’s new brick-and-mortar stores were mentioned too, as Bezos wrote the company had to “imagine the impossible.”


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: jessica bursztynsky, joshua roberts
Keywords: news, cnbc, companies, letter, failures, plans, amazon, bezos, mentioned, scale, warns, work, company, jeff, multibilliondollar, bets, phone


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Prepare for $80 oil this summer as ‘wounded bulls’ rise, RBC warns

International oil prices will average $75 a barrel in 2019, and consumers may find themselves contending with bouts of $80 crude this summer, RBC Capital Markets said. The global investment bank revised its oil price forecast higher Thursday, pointing to a cocktail of market conditions. The bank also boosted its outlook for U.S. West Texas Intermediate crude from $61.30 per barrel to $67 for 2019. The long-to-short ratio reached 13 times “at the peak of the oil price euphoria last fall” and aver


International oil prices will average $75 a barrel in 2019, and consumers may find themselves contending with bouts of $80 crude this summer, RBC Capital Markets said. The global investment bank revised its oil price forecast higher Thursday, pointing to a cocktail of market conditions. The bank also boosted its outlook for U.S. West Texas Intermediate crude from $61.30 per barrel to $67 for 2019. The long-to-short ratio reached 13 times “at the peak of the oil price euphoria last fall” and aver
Prepare for $80 oil this summer as ‘wounded bulls’ rise, RBC warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: tom dichristopher, juan pelegrin, moment, getty images
Keywords: news, cnbc, companies, wti, 80, oil, times, price, prepare, crude, wounded, bank, warns, bulls, rbc, rise, prices, barrel, west, summer


Prepare for $80 oil this summer as 'wounded bulls' rise, RBC warns

International oil prices will average $75 a barrel in 2019, and consumers may find themselves contending with bouts of $80 crude this summer, RBC Capital Markets said.

The global investment bank revised its oil price forecast higher Thursday, pointing to a cocktail of market conditions. Those include steep OPEC supply cuts, robust demand, geopolitical risk and investor positioning that leaves crude futures with plenty of room to run.

RBC’s $75 call for international Brent crude is up from a previous 2019 forecast of $69.50 per barrel. The bank also boosted its outlook for U.S. West Texas Intermediate crude from $61.30 per barrel to $67 for 2019.

“We see price risk asymmetrically skewed to the upside spurred by geopolitically infused rallies that could shoot prices toward or even beyond our high-end, bull-case scenario and test the $80/bbl mark for intermittent periods this summer,” RBC strategists Michael Tran, Helima Croft and Christopher Louney said in a research note.

Brent hit $71.78 and WTI rose to $64.79 this week, the highest levels since early November.

While Brent and WTI have rallied 32% and 40.5%, respectively, this year, the oil trade is not as crowded as it was last year. There are currently about 4.5 times as many long positions in crude futures — bets that oil will rise — as there are short positions, or wagers that the commodity price will fall.

The long-to-short ratio reached 13 times “at the peak of the oil price euphoria last fall” and averaged 8.5 times in 2018, RBC notes.

“In short, there is room to run to the upside given that geopolitical hotspots are still a clear and present danger for the market, but many wounded bulls remain following the Q4’18 washout,” the analysts said, referring to the collapse in oil prices at the end of last year.

RBC expects the 14-nation OPEC producer group to extend its deal to cap output and boost oil prices, keeping the cost of crude near the $75-$80 range many nations need to balance their budgets.

The bank sees signs of strong demand in the Atlantic Basin, where bellwether barrels from the North Sea and West Africa are finding buyers.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: tom dichristopher, juan pelegrin, moment, getty images
Keywords: news, cnbc, companies, wti, 80, oil, times, price, prepare, crude, wounded, bank, warns, bulls, rbc, rise, prices, barrel, west, summer


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Jeff Bezos warns Amazon will have ‘multibillion-dollar failures’

Amazon CEO Jeff Bezos warned on Thursday that the company will have large, failed experiments. “Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures,” Bezos said in his annual shareholder letter. Bezos mentioned the creation of the Amazon Fire phone and Echo, which developed around the same time. Bezos’ letter seems to be a warning that not all of these big bets will work out. Amazon’s new brick-and-mortar stores were ment


Amazon CEO Jeff Bezos warned on Thursday that the company will have large, failed experiments. “Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures,” Bezos said in his annual shareholder letter. Bezos mentioned the creation of the Amazon Fire phone and Echo, which developed around the same time. Bezos’ letter seems to be a warning that not all of these big bets will work out. Amazon’s new brick-and-mortar stores were ment
Jeff Bezos warns Amazon will have ‘multibillion-dollar failures’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: jessica bursztynsky, joshua roberts
Keywords: news, cnbc, companies, letter, failures, plans, amazon, bezos, mentioned, scale, warns, work, company, jeff, multibilliondollar, bets, phone


Jeff Bezos warns Amazon will have 'multibillion-dollar failures'

Amazon CEO Jeff Bezos warned on Thursday that the company will have large, failed experiments.

“Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures,” Bezos said in his annual shareholder letter. “We will work hard to make them good bets, but not all good bets will ultimately pay out.”

As the company grows, he said, it only makes sense for their failures to grow at a larger scale. Bezos mentioned the creation of the Amazon Fire phone and Echo, which developed around the same time.

The former, he said, was a “failure.” Amazon discontinued the phone in 2015 and took a $170 million write-off.

“(We) were able to take our learnings (as well as the developers) and accelerate our efforts building Echo and Alexa,” Bezos said.

The annual letter has been published since 1997 and is often looked at for glimpses into the company’s long-term plans. This year’s focus was on the growth of third-party sellers, up 4% from last year in comparison to the company’s first-party sales.

“We could not foresee with certainty what those programs would eventually look like, let alone whether they would succeed, but they were pushed forward with intuition and heart, and nourished with optimism,” Bezos said.

Amazon has plans to increase its reach into new sectors like health care, health insurance, internet delivery from outer space and even consumer robotics. Bezos’ letter seems to be a warning that not all of these big bets will work out.

Amazon’s new brick-and-mortar stores were mentioned too, as Bezos wrote the company had to “imagine the impossible.”


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: jessica bursztynsky, joshua roberts
Keywords: news, cnbc, companies, letter, failures, plans, amazon, bezos, mentioned, scale, warns, work, company, jeff, multibilliondollar, bets, phone


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Top US military officer responsible for space warns of an urgent danger: Junk

Hyten’s comments come on the heels of India’s successful anti-satellite missile test which created more than 250 pieces of space junk, according to U.S. Strategic Command assessments. Last month India shot down a satellite with an anti-satellite missile, joining an exclusive group of world powers with military space capabilities. “The test was done in the lower atmosphere to ensure that there is no space debris. At an altitude of about 800 km, China destroyed one of its own weather satellites wi


Hyten’s comments come on the heels of India’s successful anti-satellite missile test which created more than 250 pieces of space junk, according to U.S. Strategic Command assessments. Last month India shot down a satellite with an anti-satellite missile, joining an exclusive group of world powers with military space capabilities. “The test was done in the lower atmosphere to ensure that there is no space debris. At an altitude of about 800 km, China destroyed one of its own weather satellites wi
Top US military officer responsible for space warns of an urgent danger: Junk Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: amanda macias, joel kowsky, ej hersom department of defense photo, republished with permission shipsash
Keywords: news, cnbc, companies, warns, danger, test, orbit, debris, responsible, satellites, missile, antisatellite, low, satellite, officer, space, junk, earth, urgent, military


Top US military officer responsible for space warns of an urgent danger: Junk

“If we keep creating debris in space, eventually we are going to get to the point where it’s very difficult to find a place to launch, very difficult to find a place to put a satellite, to operate a satellite without having to maneuver it all the time to keep it away from debris. All of those things are complicated and have to be worked in an international perspective,” he added.

Hyten’s comments come on the heels of India’s successful anti-satellite missile test which created more than 250 pieces of space junk, according to U.S. Strategic Command assessments.

Last month India shot down a satellite with an anti-satellite missile, joining an exclusive group of world powers with military space capabilities.

Read more: India joined an exclusive club with its latest anti-satellite missile test — here’s what it means for the world

While anti-satellite missiles are by no means new, only a few countries have been able to develop, test and prove the capability. Satellites make up the backbone of GPS, communications, intelligence and more — making the ability to destroy spacecraft a coveted military strength.

In the wake of the test, dubbed “Mission Shakti,” India said that if debris was created from the event it would not pose a threat to space-based assets.

“The test was done in the lower atmosphere to ensure that there is no space debris. Whatever debris that is generated will decay and fall back onto the earth within weeks,” Shambhu Hakki, a spokesperson for the Indian Embassy in Washington, wrote in an email.

Although India’s weapons test was conducted at the relatively low orbit of 300 km, the debris may “pose a threat” to anything in higher orbits, Jonathan McDowell, an astrophysicist at the Harvard-Smithsonian Center, told CNBC in a prior interview. The test’s altitude is just below the orbit of the International Space Station, which circles the Earth at about 400 km up.

A recently unclassified report from the National Air and Space Intelligence Center, or NASIC, explained how China conducted an anti-satellite test in 2007 that produced a great deal of space junk. At an altitude of about 800 km, China destroyed one of its own weather satellites with an anti-satellite missile. Although the test was successful, the satellite shattered into thousands of pieces, which continue to zip around in an orbital cloud of deadly debris.

“A huge percentage of the debris in low Earth orbit is still attributable to that one test,” Frank Slazer, vice president of space systems at Aerospace Industries Association, told CNBC earlier this year.

However, the test represents an unsettling trend for governments and corporations operating in space, as risk increases that valuable assets “could be third-party victims” of nations demonstrating military capabilities in space.

“The more tests like this happen then the more risk there is that there could be impacts on either [rockets] going to space or satellites in low Earth orbit,” Slazer said.

Meanwhile, India’s Hakki also maintained that the country is against the weaponization of outer space and “has no intention of entering into an arms race in outer space.”

The latest revelations from India, however, come as the United States, China and Russia sprint to equip their arsenals with anti-satellite missiles.

In October, CNBC learned that a never-before-seen missile photographed on a Russian MiG-31 interceptor is believed to be a mock-up of an anti-satellite weapon that will be ready for warfare by 2022.

The Russian anti-satellite weapon, which is attached to a space launch vehicle, is expected to target communication and imagery satellites in low Earth orbit, according to one source, who spoke on condition of anonymity. For reference, the International Space Station and the Hubble Space Telescope travel in low Earth orbit.

Images of the mysterious missile on a modified MiG-31, a supersonic near-space interceptor, appeared in mid-September.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: amanda macias, joel kowsky, ej hersom department of defense photo, republished with permission shipsash
Keywords: news, cnbc, companies, warns, danger, test, orbit, debris, responsible, satellites, missile, antisatellite, low, satellite, officer, space, junk, earth, urgent, military


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Sen. Mark Warner warns that breaking up tech giants could open the door to Chinese firms

Sen. Mark Warner warned Tuesday against trying to break up big tech companies, like Facebook and Alphabet’s Google. The Democrat from Virginia said he thinks other methods should be used to fix the issues in the sector. On Tuesday, he rolled out the first in a series of bills aimed at regulating Facebook and other social media companies. on Tuesday, bans online platforms with more than 100 million monthly active users from using so-called dark patterns. Warner’s next piece of legislation is expe


Sen. Mark Warner warned Tuesday against trying to break up big tech companies, like Facebook and Alphabet’s Google. The Democrat from Virginia said he thinks other methods should be used to fix the issues in the sector. On Tuesday, he rolled out the first in a series of bills aimed at regulating Facebook and other social media companies. on Tuesday, bans online platforms with more than 100 million monthly active users from using so-called dark patterns. Warner’s next piece of legislation is expe
Sen. Mark Warner warns that breaking up tech giants could open the door to Chinese firms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: michelle fox
Keywords: news, cnbc, companies, sen, issues, tech, companies, going, giants, using, facebook, users, warner, open, mark, firms, door, warns, tencent, chinese, baidu


Sen. Mark Warner warns that breaking up tech giants could open the door to Chinese firms

Sen. Mark Warner warned Tuesday against trying to break up big tech companies, like Facebook and Alphabet’s Google.

The Democrat from Virginia said he thinks other methods should be used to fix the issues in the sector. On Tuesday, he rolled out the first in a series of bills aimed at regulating Facebook and other social media companies.

“These companies have enormous, enormous power and we do need to introduce more competition,” said Warner, vice chairman of the Senate Select Committee on Intelligence. He began studying Facebook as part of the committee’s investigation into Russia’s involvement in the 2016 presidential election.

However, when it comes to addressing antitrust issues, he has concerns about trying to dismantle the largest companies.

“These are now companies that don’t exist in an American-only vacuum. These are all global companies,” the senator said on “Power Lunch.”

“I have some concern, as somebody who is very concerned about the rise of China, that if we were to kind of chop off the legs of Facebook and Google, that they might be replaced by Alibaba, Baidu, Tencent — companies that are totally enmeshed with the Chinese government in their global economic plan,” he added.

Alibaba is China’s largest e-commerce platform and Tencent is the country’s internet giant, while the search engine Baidu is known as China’s answer to Google.

Alibaba, Baidu and Tencent did not immediately respond to requests for comment.

Warner said there are ways to introduce more competition and transparency to the U.S. tech sector — which he thinks should be done before there is talk of breaking up the big companies. He also wants to tackle the manipulative behavior, address privacy issues and content around hate speech

His first bill, introduced with co-sponsor Sen. Deb Fischer, R-Neb. on Tuesday, bans online platforms with more than 100 million monthly active users from using so-called dark patterns. The term refers to interfaces designed to coax users into taking actions that often result in giving up more information than the user realizes — such as prompts to access phone and email contacts in order to keep using the platform.

Warner’s next piece of legislation is expected to address data transparency, requiring tech companies to disclose the value of user data and how companies profit from it, as Axios first reported.

“This is going to be an issue that is not going to go away. It’s going to only potentially get worse. And we’ve got to roll up our sleeves … and solve it,” said Warner.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: michelle fox
Keywords: news, cnbc, companies, sen, issues, tech, companies, going, giants, using, facebook, users, warner, open, mark, firms, door, warns, tencent, chinese, baidu


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Sen. Mark Warner warns that breaking up tech giants could open the door to Chinese firms

Sen. Mark Warner warned Tuesday against trying to break up big tech companies, like Facebook and Alphabet’s Google. The Democrat from Virginia said he thinks other methods should be used to fix the issues in the sector. On Tuesday, he rolled out the first in a series of bills aimed at regulating Facebook and other social media companies. on Tuesday, bans online platforms with more than 100 million monthly active users from using so-called dark patterns. Warner’s next piece of legislation is expe


Sen. Mark Warner warned Tuesday against trying to break up big tech companies, like Facebook and Alphabet’s Google. The Democrat from Virginia said he thinks other methods should be used to fix the issues in the sector. On Tuesday, he rolled out the first in a series of bills aimed at regulating Facebook and other social media companies. on Tuesday, bans online platforms with more than 100 million monthly active users from using so-called dark patterns. Warner’s next piece of legislation is expe
Sen. Mark Warner warns that breaking up tech giants could open the door to Chinese firms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: michelle fox
Keywords: news, cnbc, companies, going, chinese, sen, mark, firms, warns, tencent, using, door, users, companies, giants, tech, warner, facebook, open, issues, baidu


Sen. Mark Warner warns that breaking up tech giants could open the door to Chinese firms

Sen. Mark Warner warned Tuesday against trying to break up big tech companies, like Facebook and Alphabet’s Google.

The Democrat from Virginia said he thinks other methods should be used to fix the issues in the sector. On Tuesday, he rolled out the first in a series of bills aimed at regulating Facebook and other social media companies.

“These companies have enormous, enormous power and we do need to introduce more competition,” said Warner, vice chairman of the Senate Select Committee on Intelligence. He began studying Facebook as part of the committee’s investigation into Russia’s involvement in the 2016 presidential election.

However, when it comes to addressing antitrust issues, he has concerns about trying to dismantle the largest companies.

“These are now companies that don’t exist in an American-only vacuum. These are all global companies,” the senator said on “Power Lunch.”

“I have some concern, as somebody who is very concerned about the rise of China, that if we were to kind of chop off the legs of Facebook and Google, that they might be replaced by Alibaba, Baidu, Tencent — companies that are totally enmeshed with the Chinese government in their global economic plan,” he added.

Alibaba is China’s largest e-commerce platform and Tencent is the country’s internet giant, while the search engine Baidu is known as China’s answer to Google.

Alibaba, Baidu and Tencent did not immediately respond to requests for comment.

Warner said there are ways to introduce more competition and transparency to the U.S. tech sector — which he thinks should be done before there is talk of breaking up the big companies. He also wants to tackle the manipulative behavior, address privacy issues and content around hate speech

His first bill, introduced with co-sponsor Sen. Deb Fischer, R-Neb. on Tuesday, bans online platforms with more than 100 million monthly active users from using so-called dark patterns. The term refers to interfaces designed to coax users into taking actions that often result in giving up more information than the user realizes — such as prompts to access phone and email contacts in order to keep using the platform.

Warner’s next piece of legislation is expected to address data transparency, requiring tech companies to disclose the value of user data and how companies profit from it, as Axios first reported.

“This is going to be an issue that is not going to go away. It’s going to only potentially get worse. And we’ve got to roll up our sleeves … and solve it,” said Warner.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: michelle fox
Keywords: news, cnbc, companies, going, chinese, sen, mark, firms, warns, tencent, using, door, users, companies, giants, tech, warner, facebook, open, issues, baidu


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Samsung warns first-quarter profits fell by 60 percent

Samsung Electronics’ first-quarter profits likely fell almost 60 percent from a year ago due to weakness in its display and memory business. The South Korean tech giant said on Friday its operating profit for the three months ended March would be around 6.2 trillion Korean won ($5.5 billion), a sharp decline from the 15.64 trillion won seen in the first quarter of 2018. Friday’s number also missed analysts’ estimate of 6.8 trillion won. Samsung is set to release full earnings for the first quart


Samsung Electronics’ first-quarter profits likely fell almost 60 percent from a year ago due to weakness in its display and memory business. The South Korean tech giant said on Friday its operating profit for the three months ended March would be around 6.2 trillion Korean won ($5.5 billion), a sharp decline from the 15.64 trillion won seen in the first quarter of 2018. Friday’s number also missed analysts’ estimate of 6.8 trillion won. Samsung is set to release full earnings for the first quart
Samsung warns first-quarter profits fell by 60 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, smartphone, samsung, warns, won, profits, quarter, fell, 60, korean, weakness, period, firstquarter, memory, profit, trillion


Samsung warns first-quarter profits fell by 60 percent

Samsung Electronics’ first-quarter profits likely fell almost 60 percent from a year ago due to weakness in its display and memory business.

The South Korean tech giant said on Friday its operating profit for the three months ended March would be around 6.2 trillion Korean won ($5.5 billion), a sharp decline from the 15.64 trillion won seen in the first quarter of 2018.

Friday’s number also missed analysts’ estimate of 6.8 trillion won.

Samsung is set to release full earnings for the first quarter later this month.

Samsung shares dipped 0.21 on Friday, tracking behind the Korean benchmark Kospi, which closed in positive territory. The relatively neutral reaction in the stock market was likely because investors were already expecting the profit drop for the January-March period, following a warning from Samsung last month.

In a March regulatory filing, the smartphone and chip maker predicted a bigger-than-expected price decline for major memory products — its main profit-making business — due to seasonal weakness in demand. Those components are used in mobile handsets and enterprise servers.

A slowdown in data center companies buying memory chips, as well as flagging smartphone sales have affected demand for Samsung’s memory chips, according to analysts. But the company isn’t alone — the entire semiconductor sector is undergoing a period of inventory adjustment, experts said.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, smartphone, samsung, warns, won, profits, quarter, fell, 60, korean, weakness, period, firstquarter, memory, profit, trillion


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Italy faces a ‘worrying situation with no ideas for the future,’ former leader warns

Investors have lost confidence with Italy and its future remains uncertain, former prominent politicians in the country have told CNBC, taking aim at the current coalition government seated in Rome. Speaking at the Ambrosetti Workshop on the shores of Lake Como, Padoan told CNBC’s Steve Sedgwick that “the issue of lost confidence is still hanging over the country.” Meanwhile, Enrico Letta, the former prime minister of Italy called it a “worrying situation.” “There is a big problem for Italy and


Investors have lost confidence with Italy and its future remains uncertain, former prominent politicians in the country have told CNBC, taking aim at the current coalition government seated in Rome. Speaking at the Ambrosetti Workshop on the shores of Lake Como, Padoan told CNBC’s Steve Sedgwick that “the issue of lost confidence is still hanging over the country.” Meanwhile, Enrico Letta, the former prime minister of Italy called it a “worrying situation.” “There is a big problem for Italy and
Italy faces a ‘worrying situation with no ideas for the future,’ former leader warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: spriha srivastava
Keywords: news, cnbc, companies, minister, letta, warns, ideas, lost, situation, future, told, padoan, italy, problem, worrying, confidence, leader, faces


Italy faces a 'worrying situation with no ideas for the future,' former leader warns

Investors have lost confidence with Italy and its future remains uncertain, former prominent politicians in the country have told CNBC, taking aim at the current coalition government seated in Rome.

Former Italian Finance Minister Pier Carlo Padoan said the current Italian government has damaged confidence and investment into the southern European economy. Speaking at the Ambrosetti Workshop on the shores of Lake Como, Padoan told CNBC’s Steve Sedgwick that “the issue of lost confidence is still hanging over the country.”

Meanwhile, Enrico Letta, the former prime minister of Italy called it a “worrying situation.” “There is a big problem for Italy and big problem for Italy’s lack of investment and the duration of the public finance situation,” Letta told CNBC at the Ambrosetti Workshop.

“I think it is a worrying situation with no ideas for the future from the present government. It is just redistribution with no idea on how to grow. The country will face the second quarter for the year very very hard,” Letta said.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: spriha srivastava
Keywords: news, cnbc, companies, minister, letta, warns, ideas, lost, situation, future, told, padoan, italy, problem, worrying, confidence, leader, faces


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After China, the US will ratchet up trade tensions with the EU, OECD chief economist warns

Once the U.S. and China have reached a trade deal, the world’s largest economy will amplify tensions with the European Union, according to the chief economist of the Organization for Economic Co-operation and Development (OECD). Her comments come as market participants continue to monitor the prospect of a comprehensive trade agreement between Washington and Beijing. On Thursday, President Donald Trump said the U.S. had found common ground on some of the toughest points in trade talks, adding a


Once the U.S. and China have reached a trade deal, the world’s largest economy will amplify tensions with the European Union, according to the chief economist of the Organization for Economic Co-operation and Development (OECD). Her comments come as market participants continue to monitor the prospect of a comprehensive trade agreement between Washington and Beijing. On Thursday, President Donald Trump said the U.S. had found common ground on some of the toughest points in trade talks, adding a
After China, the US will ratchet up trade tensions with the EU, OECD chief economist warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: sam meredith, vcg, getty images, win mcnamee
Keywords: news, cnbc, companies, warns, chief, tensions, eu, economist, trade, oecd, worlds, points, president, world, china, deal, ratchet, xi


After China, the US will ratchet up trade tensions with the EU, OECD chief economist warns

Once the U.S. and China have reached a trade deal, the world’s largest economy will amplify tensions with the European Union, according to the chief economist of the Organization for Economic Co-operation and Development (OECD).

Her comments come as market participants continue to monitor the prospect of a comprehensive trade agreement between Washington and Beijing.

On Thursday, President Donald Trump said the U.S. had found common ground on some of the toughest points in trade talks, adding a deal could be agreed in the next four weeks.

Chinese President Xi Jinping reportedly echoed the optimism over a possible deal, but the White House warned some sticking points remain unresolved.

“Even once we are done with the U.S. and China, the U.S. will turn to Europe,” Laurence Boone, chief economist at OECD, told CNBC’s Steve Sedgwick at the Ambrosetti Workshop in Italy on Friday.

“So, I think by undermining the multi-lateral rules-based system on trade, we have just injected a massive dose of uncertainty in the world that will stay with us for a long time.”


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: sam meredith, vcg, getty images, win mcnamee
Keywords: news, cnbc, companies, warns, chief, tensions, eu, economist, trade, oecd, worlds, points, president, world, china, deal, ratchet, xi


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