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CNBC 1568
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Search Results 0 to 49 of about 1,568 (some duplicates have been removed)
CNBC
Oct 8, 2009 6:00am EDT
quote don't have the labor constraints. they don't have the external balance of payments constraint china had. finally don't have the research constraints. they can simply buy the companies, the resources they need. so the limits to growth in china i think are a ways away as long as policy is conducted effectively. the negative story, one that says they have overinvested already. they have made a lot of bad bank loans on the back of this, and the chickens will come home to houston and look like japan circa 1989. i don't think we're there. i think we've got time. >> the other thing happening, this could make you so happy, return of deals. a lot of mergers and acquisitions. a couple of them that you've got the game on, including what's happening, talks about nbc universal, teaming up with
CNBC
Oct 8, 2009 6:00am EDT
quote united states. so now if you can sell more widgets in china, more in europe, if you're a consumer products company and you're translating those earnings you get higher revenue, you get higher profits and your multiples are reasonably low. these companies, big strong companies are going to show terrific growth at an extraordinarily reasonable price. >> what are companies you've looked at and said, this is worth another look. >> we own them. >> we already owned them and we were there and road down the bad cycle but we did add money to coca-cola as an example in our equity income fund. we are buying things like rolls-royce because we believe in the china play. we believe boeing will eventually produce a new airplane and the growth will occur in china and that will create demand for companies. the one thing i heard mcmanus mention, u.s. companies that do business in emerging market he
CNBC
Oct 8, 2009 6:00am EDT
quote crisis has been really good for china. it forced them to realize what many of us knew that the whole export boom was not sustainable. it's almost like doing the policymaking machine a favor. they couldn't have stopped it themselves. this crisis has done it for them, forced them to push the whole policy bias. >> in 2010, is that based on what you're talking about here or what else goes into that forecast? >> in terms of consumption and sustainability, yeah, that's right, the half of it. but in addition i didn't hear you guys discussing this earlier, i might have missed it, so i apologize, some of the leading indicators that guided us strongly since march when we first become optimistic are in
CNBC
Oct 8, 2009 6:00am EDT
quote china because of the chinese stimulus package. is this something that you expect to see continue thing? are you going to see it drop off as that stimulus package winds up. >> i've been going to china since the 70s. you couldn't get a legal vitae in the u.s. when we first went. you had to go to a back room guy in hong kong. china was up 20% in aluminum in august. that was really impressive. one thing i know about china, is it's continuing to boom. the numbers are going to be flaky. they had a week long holiday the first week of october and people cheated and left for holiday a few days early. they do their holidays all at once. and they started on the 28th of september. that could affect the numbers a bit. but china basically, i think, is
CNBC
Oct 8, 2009 6:00am EDT
quote . and they want to own something real. people with the big trade surpl surpluses, japan, china, middle east, they want to own something real and they perceive gold as real. >> let me take you out a few years. you know, you talked about short-term rates and long-term, in two to three years there is a growing concern among some out there that the quantitative easing that's been undertaken by the fed, $1.2 trillion added to the balance sheet and the ability to pull that money out of the market which may not be that easily done, ultimately going to lead to significantly higher rates and perhaps hyper inflation. do you buy into that at all? >> i don't buy into the hyper inflation part because i don't think you're going to get significant wage inflation, and wage inflation has got to be behind it.
CNBC
Aug 25, 2015 6:00am EDT
costs are less. >> true enough. >> so it was another ugly session in china even though we see the u.s. futures higher this morning. the benchmark shanghai composite index above the key 3,000 level accelerating into the close. investors pointed to disappointment about the lack of policy action to beijing so it declined once again to more than 7%. nikkei closing down sharply. stocks tried to rebound early in the session but turned negative in afternoon trading. the rest of asia seeing green arrows. as for europe in early trading we're seeing positive moves there across the board germany is higher by nearly 3%. france is higher by more than 3%. ftse higher by more than 2 and greece up nearly 7%. just a thousand to go. maybe they'll be back to even. more coming up in the next half hour to talk about more of what happened overseas. >> where were you in 1987? >> the oppenhiemer funds. i remember tuesday. tuesday morning is when it almost fell apart. i sat on the trading desks. >> futures were down and at 2,000 that was a lot but the reason i brought it up i had a machine and i took a pi
CNBC
Apr 6, 2017 6:00am EDT
like each other. when you talk to china, an important trading partner, this is an important meeting. you have the nuclear option, not with north korea. >> the nuclear option -- and with north korea. >> but coming up today, in a matter of hours, there will be this vote in the senate. that will change the way things are seen. >> we're not back in newark. we're not even 2% off the highs yet. we're not even back to will mingson yet. down near bwi. which is a -- the airport which is north of baltimore, right? >> you think the train has gone further than i have. the minutes from the fed suggesting officials want to start unwinding the massive 4$45 trillion balance sheet later this year. it's very significant as janet yellen and others have said and one that would amount to a rate hike. the fed also noted they're on pace for faster rate hikes. some fomc members are concerned that the stock market is overvalued. all of that weighed on stocks yesterday. >> thank you. when you have accuweather, you can put any city in. i was checking out augusta. augusta, georgia, just to see. >> yesterday th
CNBC
Sep 23, 2015 6:00am EDT
we are watching today. soft economic numbers out of china overnight. a key measure of factor sector, factory sector activity shrinking for a 7th month in a row dropping to the lowest level in 6.5 years and the shanghai composite as you can see. down a percent or so. and china's president is in seattle today. he'll attend a close down meeting. including the ceos of apple, microsoft and amazon and former treasury secretary, they say, good, keep saying that so no one moves you. >> when i have been out there in may that must be the nice time of the year. >> it's beautiful. it's almost like san francisco or vancouver. >> it's great. seahawks love them. although they lost a couple of games. former treasury secretary hank paulson will be moderating that discussion. he's been calling for a treaty between the u.s. and china and that would give a frame work for broader investment in each others economy. >> the only way to have real competition that's going to benefit the chinese economy is to open up to foreign competition so you have the best businesses competing there. so that is the key. t
CNBC
Jan 15, 2014 6:00am EST
china mobile earlier today. she's going to join us from beijing with that exclusive conversation in just a few minutes. but first, let's take a look at the markets. we are only nine sessions into 2014. but the s&p posted its best day of the year yesterday. this comes after some pretty disappointing days. if you take a look at equity futures this morning, you're going to see at this point that the indices are indicated higher once again. the dow jones industrial average indicated up by about 26 points. s&p futures are up by 3 points and the nasdaq is up by 12 points. all of this is coming as asian markets picked up ground overnight, too. and the world bank is raising its global growth forecast. we'll talk about that a little more later. on the economic calendar here in the united states today, at 8:30 eastern time, the december producer price index, the headline ppi is seen rising by 0.4%. then this afternoon, we'll get the fed's beige book. as for earnings central, bank of america is expected to post earnings of revenue of $20.2 billion. >>> other corporate headlines for you, genera
CNBC
Jan 27, 2014 6:00am EST
in china. let's start in china. eunice is joining us live from beijing with an update. good morning. good evening. >> good morning. it looks like we have averted a potential crisis here in china, there are rising fears that we could see a default in the shadow banking industry, but this is what happened. basically there was an instrument, an instrument called a wealth management product that was going to be coming due by the end of this week worth about $500 million with a company that had issued it, which is a coal mining company, was having problems and said it wasn't going to be able to pay investors back. so once that happened, for the past week and a half or so, there were quite a few people who were talking about this story, a lot of the players as well as the bank that actually was selling the products. icbc, not really wanting to take on the bulk of the responsibility. and now what we have heard from the shadow lender, china credit trust, is that they were able to work out a deal. not a lot of details, but in a notice they said they would convert loan to equity and that an i
CNBC
Jul 10, 2015 6:00am EDT
at this hour. after strong sessions in europe and china the s&p 500 looking to open up higher by 18 points. the dow by 150. the nasdaq adding 42 and here's european stocks in early trading bolstered by hopes of a deal in greece with greece. 11,200 the level there. italy urging 2.5%. portugal up about 2.8. >> here's the big stories the market is watching today. greece of course. athens sending a new package of reform proposals to its creditors asking for $59 billion to help cover it's debts until 2018. the greek parliament will vote on the plan today. meantime leaders from the imf, the eu the ecb and euro group are set to confer on greece in the next hour. a live report from michelle in athens in just a moment with all of the latest there. and then we will be joined by former ecb president jean-claude trichet. another big story this morning and all week china. stocks there rising by almost 5% overnight. the big drivers, hopes for greece but also perhaps more importantly the various support measures being announced by beijing this week. more from our colleagues in asia a bit later on
CNBC
Sep 1, 2015 6:00am EDT
showing china's manufacturing sector contracted last month. it contracted at the fastest pace in three years. the official number contracting for the first time since february. you can see how the chinese markets are he reacting to that. down about 1.25% but you can see a sharply reaction in hong kong and shen seven which shows china's higher growth stocks. meantime, exports from south korea tumbled by the most in six years so that is also effecting the markets here. shanghai composite was down as much as 5% before recovering to close down 1% thanchts loo. that looks better. we have to switch the percentages. soon, now, today i think. instead of arresting people that are selling stocks like in china. >> that's first reaction i had. >> 350 is -- that's not that much, right? what is that? 2% or something? >> i said yesterday 100 wasn't a lot. >> but we need to switch to percentages. triple digits doesn't count at all anymore. >> especially when we say things like the worst point drop since 2009, of course where the dow was in 2009. >> bwe're 2% today. i know percentages and when i
CNBC
Mar 23, 2010 6:00am EDT
rampage ever since this began. but between that and the cover of the journal, business in china is quickly becoming the lead. >> yesterday the chamber of commerce said it is going to be much more difficult to convince u.s. businesses to come out and try and talk the administration to come out and take an easier stance when it comes to the issues they're looking at, whether it's currency manipulators, small businesses. >> it says here, china can stop this at any time, right? >> they haven't yet. this is kind of what they're calling an elegant slugsz. it's not what we thought was google going to do, which is move things legally. >> they can invote google's permission to use google.cn. there's no way that any communist worth his salt, any repressive regime worth its salt is going to let billions of people -- but is the company going to give up a market where there are as many internet users as there are men, women and children -- >> but they haven't made any money there. minimal revenue. but i'm just thinking we should hear about this today, right? >> you mean china make a move? >> ye
CNBC
Sep 2, 2015 6:00am EDT
. another volatile session in china overnight but here's how the major indiexes are behaving in europe. all of those up about .10%. italy is up about three quarters of one% and greece adding about .5% for its part. >> remember that nearly record three-day 27% rally for crude oil, it's well on its way to being wiped out. crude fell nearly 8% yesterday. it's down another couple of percent this morning and you can pick your reasons why. still strong production here in america, still concerned about iranian output, saudi arabia and russia still pumping out oil. that is down 2.2%. >> also a busy economical ha car ahead today. it's the economy -- concerns about the economy that's been driving markets so much. at 8:15 eastern this morning we'll get adp's look at private sector employment for september. consensus forecasts call for 200,000 private sector jobs. there's a revision of second quarter productive numbers. it will show an annual growth rate of 3%. that's higher than the prior 1.3% estimate and at 2:00 p.m. eastern time we get the beige book. that's the region by region assessment of
CNBC
Apr 15, 2010 6:00am EDT
4.8% was hit last week. the highest since greece joined the european union. >> china's economic growth picking up in the first quarter to 11.9% year over year. although i did see a reuters story or something earlier that was citing sources for this number. anyway, an expansion like that would be the fastest rate of expansion for 2007. china obviously benefitting from easy comparisons and massive government stimulus. some economists are now calling for tighter monetary policy. >> at the jenning of that, we saw a british store and then we saw an glsh store. it didn't look like san francisco. >> we're just going to show wallpaper vo. it's just something that is not pertinent to the story. it's something we put up so you don't have to look at me, basically. and with greece, now we have it down to a science. but for crumbling china, i think it's a wall. >> you can show the wall or tiananmen square. >> what? that doesn't exist. check with google. >> we'll talk to him more about that later on this morning. let's get a check on the markets right now. markets did close higher yesterday. the dow
CNBC
Aug 13, 2015 6:00am EDT
5.5 and the nasdaq up by close to 20. more on the overseas action and china central bank in a moment. but first as you are just waking up check out these pictures. huge explosion shaking a port city in china killing at least 44 people and injuring hundreds. those blasts sent massive fire balls into the night's sky. the initial blast erupted at a warehouse for hazardous materials and triggered other explosions at nearby businesses. those explosions could be felt miles away. the cause at this point not immediately clear. let's take a look at some live pictures this morning from tianjin china. you can still see the smoke cloud billowing. we heard from hyundai. we'll take more of a look at what's happening with china in a bit. about 4,000 imported vehicles were destroyed by that blast. >> here's the big stories today, china central bank holding a news conference in beijing overnight arguing there's no basis for continued currency depreciation. earlier in the day they set the rate below yesterday's close. we'll have a live report in a moment. athens wants to see a vote before a euro zone
CNBC
Jan 14, 2016 6:00am EST
point during the trading session. china bucking the trend. stocks there turning higher in the afternoon with the shanghai composite closing higher by about 2%. take a look at the early trade this hour you'll see that right now things are pretty weak across the board. the cac in france is down by about 3%. the dax in germany down by 2.75%. and take a look at the price of crude oil that's been a huge reason behind the weak numbers that we have seen in equities. you can see wti up by 31 cents. still at $30.79. >> i don't know how much of that was. >> propped up by the government. >> and it's interesting because every day now the journal has enough trading before the final print to actually talk about shanghai and today the journal says the sell off continued early thursday in shanghai when that index had breeched it's lows it saw in the summer. by lunchtime and they paused. >> that's a good idea. >> take a break. >> an hour and a half. but it was still down 1.2% and then closed up almost 2% but that didn't help asia which seemed -- i'm sure, europe, which is down significantly sort of refl
CNBC
Oct 20, 2015 6:00am EDT
by china. the company also cutting it's profit forecast. more from an analyst in just a bit and my question is ibm going to be what you consider a major player five years from now in providing i.t. to corporations. >> that's the big issue. part of the problem is trying to sell orders to big companies. >> that's their business but are they still going to be a major player? >> that's the problems. >> are they going to be ibm in five years. >> that's what she is arguing that she's investing for. >> the entire industry is switching to smaller projects. >> i think it's going to be like digital equipment or by the time they're all split up. >> the person i want to talk to about all of this is still warren buffet. >> we moo. >> how many walmart shares? >> between walmart and ibm, you can go through the list of companies hit over the last couple of weeks and how he thinks about all of this. >> here's another stock, sap is confirming the quarterly results that it preannounced last week. that's nice. and today the software giant says it could top full year financial targets in the fourth qua
CNBC
Jan 13, 2010 6:00am EST
jobs and preparing to announce t.a.r.p. fees. >>> china challenges, google threatens to pull out of the country and the u.s. equities at this hour, under a bit of appreciate dwrur and around the flat line as "squawk box" begins right now. >> good wednesday morning. welcome to squawk here on cnbc. i'm carl quintanilla along with joe kernen and carl quintanilla. i want to get to this morning's headlines. the white house says emergency spending measures last year saved up to 2 million jobs. harwood will join us in a few minutes with the latest on that. a senior administration officials says the president will announce plans tomorrow to raise up to $120 billion for fees on major financial firms. society generale issuing a mrovt warning today. the bank hit by new write-downs to the tune of 2 billion from risky assets. we will head overseas for reaction in a few minutes. >>> and a major earthquake hit haiti. and google, you saw this, threatening to leave china. the tech giant warns it will no longer tolerate strict censorship of its search engine. >> a few years ago, when we went into china,
CNBC
Jan 15, 2016 6:00am EST
china's haier for $5.4 billion. ge has been working on trying to sell this unit since regulatory issues forced it to abandon a $3.3 billion transaction earl r earlier. >> you've read these headlines before and then it came back and now we're here. dow component intel trading lower. beating fourth quarter forecasts but slowing growth in it's data businesses raising new worries and goldman sachs has to be paying $5 billion to residential mortgage backed securities. the agreement will reduce third quarter earnings after tax. >> our guest host for the next hour is the world's largest money manager. larry fink is the chairman and ceo of black rock. black rock's fourth quarter earnings coming out moments ago. why don't we start with the news and go through the numbers. thank you for coming in today. >> hi becky and guys. >> for the fourth quarter black rock earned $4.75 a share. the street was looking for $4.80. revenue came in better hahn expected. $2.86 billion. you raised your dividend and it looks like just for the quarter, the long-term net inflows were $54 billion for black rock so let'
CNBC
Jun 24, 2013 6:00am EDT
there's market metaphors in there somewhere. let's get you covered on top stories this morning. china's cash crunch appears to be easing just a bit today after the central bank moved to prevent the money market from seizing up. however, bank stocks still took a real big beating after the people's bank of china said banks need to do a better job of managing their cash and lending. goldman sachs became the latest bank to downgrade china's economic growth. the firm says tighter financial conditions and reforms are a down side risk for the world's second largest economy. more from our colleague eunice yun in beijing in just a moment's time. but in the meantime, the bank for international settlement says central banks should not allow fears of disrupting markets to delay the timely withdrawal of cheap money. in its annual report the bis warns the exit will be more challenging, the longer expansive policy stays. with the bank for international settlements chief economist will be joining us to explain all of that at 7:40 eastern. so we'll get more on that later on. >> thank you very much. mean
CNBC
Sep 14, 2015 6:00am EDT
other news out of china, government announcing that -- excuse me, government officials announcing that beijing will work to reform its own huge state owned enterprises and introduce mixed ownership. and in europe today interior ministers are meeting to talk about the migrant crisis and how countries can share new arrivals. germany temporarily introducing border controls saying the move is urgently needed for reasons of security and to curb the large number of migrants. >> they stopped trains from austria moving into germany. couldn't help think we were right on that track only a couple months ago going from munich to salisbury and vienna. amazing. >>> in corporate news today apple is currently selling out the new iphones, 6s. in china. ricoh suggests a man is stronger in china than other areas areas in the united states. it tracks the back order status of the models. it shows the wait time for the big screen iphone 6s plus is now running at three to four weeks. apple traditionally releases first weekend sales on the monday after a launch so we could hear something from the company
CNBC
Jan 20, 2016 6:00am EST
about the china slow down. european market which is are already open are sharply lower as well. check things out and you'll see that right now it looks like we're facing declines of about 3% for the dax. a decline of 3.3% for the cac in france. the ftse off 3% and again bigger losses that you even see in italy. >> we should also tell you that a big issue here oil prices plunging this morning in a big way. wti crude dropping below $28 barrel. now the lowest level since september of 2003. brent also down hovering near a 12 year low. worth watching stock pile data from the american petroleum institute later today t. saudis are here. as are delegations from iran. >> all of them? >> not all of them but both groups are going to be here and there's a lot of talk. >> ten years below. it was below. >> i did see that and oil prices and andrew was just talking about it. >> i didn't see below 27. >> i didn't see that myself. if they say they did they did but i did see the s&p there's something at 1862 wasn't there? >> 1867 was the level we were watching before. >> down 40 today. we're down
CNBC
Apr 8, 2010 6:00am EDT
and jobs. now suddenly, geopolitics with russia, economic ties in china are almost dominating the conversation. >> i think this is one of the more successful moves that we've seen, at least certainly with geithner, the situation with china. >> and they're going to issue a communique after that meeting this morning. we're trying to get some march sales today from retailers. costco is first out of the gate. the warehouse giant reporting a better than expected 10% rise in comps last no. analysts were looking for the.3. the results were driven by an increase in gas prices and strong foreign currency. hot topic beat estimates. the company announcing a special cash give depend. shares were sharply on the rise in after hours trading. we're going to get a slew of numbers, though, as the morning going on. that plus the airlines, plus jobless claims, ecb, bank of england. so incredibly busy. >> but you know, you hear those earnings and all of a sudden you say to yourself, i think this -- but this is no longer a surprise, hearing good earns. we keep hearing it over and over and it's good and
CNBC
Mar 24, 2010 6:00am EDT
normally. but it's the house ways and means committee will investigate how china's policy xwrakts the u.s. economic recovery. we talk about china constantly. china and the united states will hold high level talks in may, right? >> yes. schumer and graham, i think, putting pressure on the president to act before this thing potentially could come to a vote. >> they want to call them a currency manipulator and the chinese are getting riled up at the suggestion because there are trade implications that could come from it. >> after all the talk we had about rio tinto, i went and read all i could about that. and what a -- >> suspicious, hey? >> what a crazy system. there's so many things that we don't understand about china. >> first it was espionage but then the charge turned to bribery. >> you know what is strictly forbidden? pleading innocent. >> pleading not guilty. >> yeah. and we'll cut you some slack, but the first step towards rehabilitation is admitting what the government says that you did. i mean, i'm not -- i'm glad the olympics aren't -- >> wouldn't it raise concerns if you were an
CNBC
Jan 19, 2016 6:00am EST
economic forum in davos. our top story here is actually coming from china. china's economic growth slowing to 6.8% in the fourth quarter. that's the weakest reading since the financial crisis though it was in line with estimates. 2015 full year growth coming in at 6.9%. that is the slowest growth in china in 25 years. but take a look at the boards. stocks in china rising in late trading. strong rally there. expectations that there's going to be more stimulus from the chinese government. we'll check in with eunice in a few moments to get an update. higher by .5%. not quite a rally but they'll take it considering what they have been through. germany and france higher by 2%. italy higher by .5%. they had a rough session yesterday and a positive territory at this hour. dow would open higher by 253 points. >> quite a sharp futures session given what we have seen in the global markets but i think the u.s. will take it as well given how we ended last week. the imf out with the latest growth forecast. global growth expected to be 3.4%. that's down .2% from october. u.s. growth expected to come in
CNBC
Jul 10, 2013 6:00am EDT
headlines. >> for that -- >> we need to talk to joe. >> come to me. china. china is warning of a grim outlook for trade, the second largest economy reporting a drop in exports. and imports in june. and both have been expected to rise. the numbers are likely going to raise concerns about the extent of the slowdown in chinese economy. also overall, global demand. stocks, though, rallied on talk the central bank may have to ease policy to boost growth. it is important to note chinese trade data is volatile and the government has cracked down on the use of fake invoicing that in the past had exaggerated exports. we'll have more from eunice eun in 20 minutes, around 20 past the hour. >> the other major global market story today, the federal -- the fed minutes from the june fmoc meeting will be released at 2:00 eastern time this afternoon. traders are looking for details on some of the behind the scenes discussion. we're going to remember, of course, fed chairman ben bernanke announced last month that the fed could cut back quantitative easing program before the end of the year. also worth
CNBC
Apr 13, 2012 6:00am EDT
china's gdp expanding at a lower than expected rate of 8.1%. it's the fifth straight quarter of growth rate declines for the world's second largest economy. economists were looking for 8.3%. the number down from 8.9% that the country rang up back in the fourth quarter and what you might expect on a friday the 13th. chinese march industrial output rose by nearly 12%. retail sales surged by more than 15%, but again, it is the slowdown that has people concerned today. even slower than so many people had been looking for. if you take a look at some of the early reaction to china's growth story, you'll see right now the futures are indicated slightly lower, down about 27 points because the big question is, is this a bad news or good news scenario for stocks. because if you think that the central bank in china will have to start easing like we've seen other central banks around the globe doing, is that a bubble that then leads to higher stock prices. >> stock prices in the short term. >> easy. >> easy money? >> easy money. >> we heard yesterday from chanos at that conference where he
CNBC
Aug 14, 2014 6:00am EDT
partly to blame. partly you would think because of china and partly because of europe, i guess. >> also partly because of what's happened with us trying to raise rates. that is affecting the markets in a big way, too. >> yeah, it has. we haven't tried to raise rates. qe is still -- you know, it's a net addition. >> the central bank has been pointed saying what we are doing is affecting the emerging markets at this point. >> knowing that eventually it could be -- you know, if you want to know when in 2015, to get that first increase. cisco cited sales. results beat the street driven by sales of its branded division. some analysts worried the company was losing business to newer flash based technology. and amgen sales hitting the street with a multiple myeloma drug. this was a take overof onyx. i'd like to talk to someone about how much of that is based on whether this is going to work. and cellgene, by the way, with a myeloma drug, as well. >>> earnings missed the market for noodles & company. saying fewer diners are visiting its restaurant. noodles must be next to the places th
CNBC
Mar 22, 2010 6:00am EDT
watch. another story we're watching today, google is expected to announce its plans for china. exiting china as early as today. let's head to beijing where check lei joins us with the latest. what can you tell us this morning. >> hi, becky. we may get an answer on that story as soon as monday, 4:00 p.m. u.s. time. this is according to china's cbn newspaper telling me that's when google will be announcing the compensation packages for its china advertising sales agents. of course, we've got a lot of reporters, foreign and local, staking out the google headquarters in beijing, hoping for interviews with some of the employees. but, security is tight. and pr has prepared the staff well in advance not to speak to the media. we've had some local reports saying that google will get out of china as soon as april 10th. partly that is because the chinese internet firms business licenses come up for annual renewal at the end of march. so that's why that time point. we've also had some unconfirmed reports that certain members of the chinese media have been invited to google's u.s. headqua
CNBC
Jun 7, 2013 6:00am EDT
question is, president obama's meeting with the new president of china today. the whole conversation is going to be about hacking. >> right. >> how -- so that's happening in china -- not in china, rather, but in california today. given this news, how does that all work together? if other countries say, if they do it this way -- >> the biggest concern is not only that they're trying and hack and spy on it, but it's happening at a corporate level. the rules of the game has always been, whatever you're doing, you're not trying to spy and hack on corporations. and that changes everything because you're basically -- they're trying to get ahead and get some sort of advantage by stealing things from us. >> i think when there are news stories that say we're hacking effectively our own people. for berth or worse, it makes it -- whatever moral high ground you have for all of this dialogue, it makes it that much more difficult. >> one thing that was pointed out to me yesterday was that if this was george bush and this was happening ta -- i mean, it's finally reaching a high level of interest fr
CNBC
Dec 12, 2016 6:00am EST
open 25 points down in the s&p 500 looking down as well, but only largely. stocks in china tumbled overnight after regulators banned insurance companies from buying stocks. the shanghai composite fell 2.5%. the hang seng fell nearly 5%. and the nikkei closed higher by .08. >> do the rules ever stay the same there? every day there's new financial regulation that you can do this. they used to force companies to buy stock. now it's prohibited. >> earlier in the week when we did 300 i messaged you and said, this is definitely it. we have to call the top here, definitely. this has got to be it. >> they keep going. >> another 142. >> hope springs eternal. >> 19756. what is interesting is that, you know, things haven't even been done. so we don't know whether deregulation and cutting taxes and pro-growth supplies, we don't know whether they are going to put them in. but there was a question recently about whether those things even work. so now we're seeing this, we don't know if they are going to do it, but just the possibility we might do them is worth 2,000 points on the dow. >> and don
CNBC
Jun 1, 2012 6:00am EDT
of 10.2%. we'll have a live report from london. not helping, the economic numbers out of china. surveys of the country's factory sector showing momentum slowed last month. economists say this signals a deeper than forecast deterioration. and it is taking its toll on the u.s. equity futures. you'll see right now the dow futures down triple digits. s&p indicated to open 15 below where it closed yesterday and nasdaq futures are off by 25. >> and that is likely to change i imagine at 8:30 when we get the big number. walmart holding it annual shareholder meeting this fayetteville, arkansas. >> this is walle mart's first opportunity to speak to shareholders asince the allegations of bribery broke and an opportunity to vote shares in response. amid the executive presentations and musical performances, shareholder business will take place. results of six proposals will be announced including the annual election for the board. which has been met with some contention. all 15 members are up for re-election. and google's mayer is on the ballot. urging shareholders to vote against a number
CNBC
Aug 17, 2009 6:00am EDT
. there's talk that china's trying to renegotiate some of the iron ore contracts. bhp bulletin and rio tinto saying they do not see a contract at establishing industry-wide price. the sector is down, that is the one that most embodies what is going on with risk appetite. a day of risk appetite, the market is weaker. u.k. banks lower today. we've got barclays down 3% at the moment. reports they're attempting to recruit five jpmorgan investment bankers with a bonus package worth 30 million pounds. the rest of europe are talking about cracking down on the bonus culture. it appears it's very necessary to implement if you're going to hire the right staff. two ways of looking at this sell-off. one is we've had a very good run recently. on bad news, wield see profit taking. the retail sales data was a reason to do that. you also made the point it is august and volumes are light. i think we have to start this and see if it continues to three or four days and may be something more serious. it comes on the back of good gdp data. christine, over to you. >> ross, good to see you. a sell-off in asi
CNBC
Oct 9, 2015 6:00am EDT
abandoned their cars. >> that used to happen years ago in china. maybe five or six years ago and then suddenly people would just walk away from their cars and into the villages. but wow. >> this makes me feel better about my commute today. >> you don't live in l.a. that doesn't look a lot different from the 405. >> my first thought was china and second thought was l.a. >> but what is the widest highway? how many lanes? >> not 50. >> but wide. like 5. >> like 5. >> and across on both sides but yeah, 50. so let's get to the u.s. stock market. we're looking at what is potentially setting up for the best week since february for the dow and since december for the s&p 500. this morning things were flat but we did see gain across the board yesterday. we'll continue to watch this. >> a couple of stories we're watching this morning. falling short of estimates. company hit by slumping commodity prices including aluminum. the stronger market not helping things. shares down on that news. next month they announced they would split into two companies in a bid to revive the stock a little bit.
CNBC
Apr 25, 2012 6:00am EDT
amazes us. they crushed numbers. the biggest high least was china. that number was spectacular for iphones. no one thought it could be that big. certainly we didn't. they beat our most bullish chinese estimate by 3 million units. >> if you look at it. it's here. you add up it, multiply it times the number. it's a huge number. >> there are around 4 million that can afford it. that's a lot more than here. it ooh's big market and they've eclipsed us, which is staggering how quickly that's happened. >> but they still can't google tiananmen square and come up with anything but that's okay. how about margins? >> margins were spectacular, but they added $14 billion in cash. in cash, in the quarter. taking them up to $110 bill in cash. microsoft's entire revenue for the first quarter was 15 -- just over 15 -- sorry -- 17, but still. they did double mochlt's revenue, doubles microsoft's profit in this quarter. it's pretty staggering. this story for apple has become a china growth story that. i don't even have the biggest carrier in china yet. that's something that tim cook is working on. on
CNBC
Feb 4, 2010 6:00am EST
. some of hit to do with the china situation where we will get into. sovereign debt risk which is rearing its head. i think also -- political uncertainty and i know you love to talk about. i think all those things sort of -- i know you do. >> $6 billions that you have under management. how much of it is short and how much of it is long tim? >> we run our short all but about a quarter of it is all hedged anyway. that's about almost 90%. what you would call short. >> right. >> although we -- we are not directional. market goes up, we can still make money. >> your fee structure is based on -- you have to beat the mark oat the downside. >> exactly. we have a traditional hedge fund. that's a small part of our assets. >> we could be in the best market in the world and you would still have this -- >> some of our -- we had some of our best years in the late '90s when the market was racing and our stocks were going nowhere. >> people long shouldn't -- when we allow him to talk for two hours -- short the stocks. things like enron might have been something -- that was a big chanos call. quar
CNBC
Oct 12, 2015 6:00am EDT
. ford announcing it will invest 1.8 billion in the next few years to expand r and d in china. and general motors says its china auto sales dropped nearly 4% year over year. they're selling 2.9 million vehicles in china. china's quality watchdog announces it is highly concerned about the volkswagen emissions issue. the country's environment ministry said it would launch an investigation into vw. see, beijing, got a bad reputation, volkswagen, it's not us. >> we're not the polluters? >> not the chinese government. the diesels have been polluting, beijing would be wyoming. >> there did you. >>> let's talk about global economic news. fed vice chairman stanley fischer says the fmoc is likely to raise rates. he cautions that in his words an expectation, not a commitment. he was speaking at the imf this weekend. fischer says things could change pushing it further off the course. >>> a majority still expect a fed hike this year. the poll by the national association of business economics also suggests that the economy will grow at a slightly faster pace than previously forecast. >>> and in
CNBC
Jul 11, 2013 6:00am EDT
gap will narrow in the coming quarters. not to forget china, lousy export numbers yesterday. stocks posted their best daily gain in seven months today. among the catalysts, local media reports raised hopes that beijing may launch targeted stimulus measures to boost growth. there has been a great deal of concern about china. down 3.1. expecting up 4 in exports. maybe they're starting to be real about what is actually leaving and coming into the country. >> and, i mean, i was in beijing for the first time a few weeks ago and people ask me where you come back, what do you see? i didn't see anything because the smog was so dense, i couldn't tell night from day. when you're there, you say, so why again do you want 7% real gdp growth? everybody in the world is focused on chinese growth, except the chinese have a more balanced view about it. they want the right kind of growth. i think they do need to make sure growth stays there. but enough -- >> i was there a couple of months ago about how bad the smog was. i was, like, what are you talking about? you can see your shadow today. you can se
CNBC
Jun 26, 2013 6:00am EDT
session. china's central bank said it would provide cash to institutions that needed it. hong kong shares had their best day in nearly six months as investors hunted for bargains following the recent selloff but japan's nikkei dropped below the 13,000 mark. china's yuan slipping against the dollar. the central bank set a weaker official mid-point. traders say that this is signalling the central bank doesn't intend for the chinese currency to appreciate further. the major indexes are mostly higher in early trading. among the catalyst follow through from yesterday's session on wall street and news that german consumer sentiment rose to its highest level in six years. we'll have more from our colleagues overseas in just a couple of minutes. let's first get to michele. >> on the economic agenda today, 7:00 eastern time, getting weekly mortgage applications. key in the face of these rising interest rates. 8:00 a.m., final revision to gdp. economists are not looking for any change. real event to watch, treasury auction of five year notes. the government borrows a lot of money at 1:00 eas
CNBC
Sep 26, 2012 6:00am EDT
back production that they have for their plants in china. this decision is coming in the wake of the anti-japan protests. they close dealerships. anti-japanese sentiment in china escalated earlier this month after japan said that it would buy a group of disputed islands in the east china sea. protests across china, angry demonstrators vandalize properties of japanese companies. in the next hour, we'll be joined onset by two squawk masters who are ready to talk about all this chaos. neel kashkari and larry lindsey. let's get to the morning's other top stories. joe, i'll send it back to you. >> germany and its two closest allies in the eurozone appear to be stepping back from a key agreement over a bank bailout. german, dutch, and finnish finance ministers met in helsinki yesterday, and in a statement they said a plan to move bad bank assets off the books of struggling eurozone governments would not apply to legacy assets. this is said to be a reference to banks that were shored up and wound down under ireland's $82 billion bank bailout. i mentioned germany, i've mentioned finland, i'v
CNBC
Apr 18, 2013 6:00am EDT
manufacturing operations out of china. phil lebeau joins us from shanghai with that story. first, though, check out nokia. the company reporting a smaller than expected loss. revenue did fall a little short, and shares are down sharply on this news. it's a decline of 12.5%. squawk will be right back. ♪ ♪ here we are, me and you ♪ on the road ♪ and we know that it goes on and on ♪ [ female announcer ] you're the boss of your life. in charge of making memories and keeping promises. ask your financial professional how lincoln financial can help you take charge of your future. ♪ ♪ oh, oh, all the way ♪ oh, oh ♪ oh, oh, all the way but i wondered what a i tcustomer thought? is great, hi nia... nice to meet you nia, i'm mike. what do you drive? i have a ford explorer, i love my car. and you're treating it well? yes i am. there are a lot of places you could take your explorer for service, why do you bring it back to the ford dealership? they specifically work on fords. it seems to me like the best care. and it's equal or less money, so it's a value for me. get a free b
CNBC
Apr 15, 2013 6:00am EDT
weaker this morning is because of the numbers that came out of china overnight. china's economic growth was slowing in the first three months of the year. for china, it was actually a disappointment. it was down from the previous quarter, 7.9%. economists had been looking for 8% growth for the most recent one. our eunice yoon is going to join us with more from beijing in just a few moments. let's take a look at oil prices. there are some massive moves throughout some of these markets. oil prices down by $2.70. that's almost a drop of 3% to 88.59. concerns about that weakness in china playing out here, as well, because people are looking at this and realizing that you are going to be seeing some smaller growth coming, less growth coming from china over the next decade than over the last. if you look at the broader markets, the ten-year note here in the united states is now yielding 1.733%. if you take a look at the currency markets, right now, the dollar is stronger against the euro and the pound. euro is at 1.3059. the yen is at 97.79. and gold prices this morning, as we mentione
CNBC
Sep 8, 2015 6:00am EDT
planner approved railway projects worth nearly $11 billion. china's latest trade data showed drops in imports and exports last month and in japan stocks drop with the nikkei losing it's year to date gains but then in early trading so far in europe this morning stocks are higher looking off of that as well and you're looking at the dax and just about everything at close to 2%. >> there are 1.4 million people and there's a lot of cities with over a million people and maybe it's a good idea but the chinese have been building a lot of stuff just to build it. i don't know. >> are they planning more stuff to dig holes and fill them back up again. >> that means they're more panicked. >> supposedly the factories are churning out -- everybody stays employed but they are turning out cement and concrete. they're not even using it. i don't know, maybe they can use it -- we almost built a lot of these things for awhile, right? one in florida? one in california made sense, didn't it? you don't think they have shovel ready stuff. >> it pam very appropriate for that package. in way in corporate ne
CNBC
Aug 8, 2012 6:00am EDT
doesn't count. china is the world's largest beer producer. the u.s. saw a slight decrease. have you slowed down? >> next time we are to play a country, i'm pretty good at drinking beer would have been much better for this sugegment. there's a country song -- >> a country song? >> yeah. you know what i see right there? >> trying to help demand. >> i see i was already losing my hair in these two spots six or seven years ago. now maybe it's not dropping out quickly. that makes me feel better. greco runs this to make me mad but -- it's right here and here. >> i think it's looking better. i think it's grown in. >> no. it's a little comb-over, which i never thought i would have. joining us from the futures pit, from a man that can't even do that, ira harris. you gave up on the comb-over how long ago, ira, 10, 15 years ago? >> i have a deal with somebody, if he ever sees me with a comb-over, they have a gun -- >> just kill you. >> just kill me. >> driving a mini van or -- how about a minnie van with a comb-over is even worse. ira, we're both 1400 on the s&p. i don't remember you being that
CNBC
Sep 17, 2015 6:00am EDT
session in china overnight. the shanghai composite closing down with those losses coming in the final 30 minutes. in europe the swiss national bank keeping it unchanged but if needed it will remain active in the currency market to weaken what it calls a significantly overvalued swiss frank and then corporate news this morning. general motors reaching a deal with federal prosecutors to resolve a criminal probe involving the deadly problem with ignition switches. gm will pay a fine of around $900 million more and we'll have more on all of this from phil in just a bit. yesterday we had a beer deal and today we have a real deal and it is big. it's in the cable world. european telecom altice is buying cablevision for $34.90 a share. the total value including debt is $17.7 billion. after in years of speculations, they finally sold. they remain the owners of amc and msg. altice failed earlier this year to buy time warner cable. they had gone after that after the transaction fell apart with comcast. john malone thinks that the ceo of altice -- they bought a company called sfr in france about a y
CNBC
Feb 23, 2012 6:00am EST
-- >> it's a good interview. >> my favorite story is the china story. >> this morning in the journal. >> i love this. >> the world bank? >> yeah. and it's from em in china, too, that this new group of young leaders coming along, they're going to need to reboot the way things work there. my favorite line was the government, and they're talking about the chinese government, needs to decide whether it wants state led capitalism or free market entrepreneurialship and i said, wait a minute, is that our election that we're having in november trying to decide whether there's state led capitalism or free market? and then i realized they were talking china. even china is deciding, you know, this state run stuff, this big government, it doesn't work as well as we had -- it's funny almost every country, europe's coming back. they're doing market reforms. they're doing structural reforms. everybody else is doing it. we hurtle head long in what got them in the struggle. >> to me capitalism is very different, though. >> state capitalism? >> state run capitalism. the debate is over. >> picking winn
CNBC
Jun 6, 2013 6:00am EDT
with china's new president today in china from currencies to pork. we're going to talk about issues that might be on the table in that conversation right after the break. [ lorenzo ] i'm lorenzo. i work for 47 different companies. well, technically i work for one. that company, the united states postal service® works for thousands of home businesses. because at usps.com® you can pay, print and have your packages picked up for free. i can even drop off free boxes. i wear a lot of hats. well, technically i wear one. the u.s. postal service®, no business too small. [ male announcer ] my client gloria has a lot going on in her life. wife, mother, marathoner. but one day it's just gonna be james and her. so as their financial advisor, i'm helping them look at their complete financial picture -- even the money they've invested elsewhere -- to create a plan that can help weather all kinds of markets. because that's how they're getting ready, for all the things they want to do. [ female announcer ] when people talk, great things can happen. so start a conversation with an advisor who's f
CNBC
Apr 5, 2010 6:00am EDT
going to hit the road. >> does it give china the opportunity to save face, start to move the yuan a little bit, and then in the meantime, that satisfies the guys in congress and the women? >> if you think you're going to move the yuan in the meantime? meaningfully. >> because he's coming to visit in a couple of weeks. >> not just that, they save face. they've got an inflation problem that they're going to have to deal with. that's the best way to do it. it's in their interest, as well. that's why in the end they will always do whatever is in their interest. >> it's kind of interesting to see the timing on that when they feel the move is safe, you know. >> we've got another future data. >> you're expecting the markets to rally today on the fact that there is no report? >> i don't know if the markets -- i don't know if the markets agoing to rally but there was so much focus on the jobs report, and there will be because it's -- >> i think the job market is the only thing -- >> i think the yuan decision is another layer. after a bit of frosting. >> okay. all right. meantime, the british
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