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Search resuls for: "Competitiveness"


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New York CNN —Former President Donald Trump’s trade agenda amounts to a tripling-down of the trade war he waged during his first term in office. That’s nearly five times the total cost as a share of GDP from the 2018-2019 US-China trade war. Trump’s tariff proposals would cost the typical middle-income household at least $1,700 a year, the researchers found. Those aren’t comparable numbers,” Clausing said, referring to the amount of imports targeted by Biden and by Trump tariffs. Likewise, the US International Trade Commission found in a 2023 study that US importers “bore nearly the full cost” of tariffs.
Persons: Donald Trump’s, Trump, That’s, Kimberly Clausing, Mary Lovely, Clausing, aren’t, , Joe Biden, , Biden, ” Biden hasn’t, Janet Yellen, ” Yellen, ” Clausing, Karoline Leavitt, , Bidenomics, ” Leavitt, Leavitt, Moody’s, Mark Zandi, ” Goldman Sachs, ” ‘, ” Chris Krueger Organizations: New, New York CNN, Trump, Peterson Institute for International Economics, Peterson Institute, UCLA School of Law, CNN, ” Biden, Biden, Treasury Department, US International Trade Commission, , Cowen’s Washington Research Group Locations: New York, China, Frankfurt, Germany, Europe, United States, U.S, Washington
Read previewJeff Bezos' private space company, Blue Origin, recently announced its plans to launch a crew of six aboard its New Shepard rocket this Sunday. Still, late last year, Jeff Bezos told Lex Fridman on Fridman's podcast that "Blue Origin needs to be much faster." About one minute into the flight, Blue Origin lost the first-stage booster due to a faulty nozzle in the booster's engine. Blue OriginVirgin Galactic and Blue Origin are both in the suborbital space tourism business. Bezos says Blue Origin's culture isn't fast enoughJeff Bezos founded Blue Origin in 2000.
Persons: , Jeff Bezos, Sara Sabry, Lex Fridman, Shepard, New Shepard, That's, ULA, Ted S, Warren, Bezos, Fridman Organizations: Service, Shepard, Business, Virgin Galactic, SpaceX, Origin, Federal Aviation Administration, Italian Air Force, Virgin, Glenn, United Launch Alliance, Rocket, NASA, US Space Force, AP Locations: Texas, New, Glenn, ULA
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We are losing competitiveness' in the EU, former Italian Prime Minister Letta saysEnrico Letta, author of "Much More Than A Market" and former Italian prime minister, discusses the European economy.
Persons: Letta, Enrico Letta Organizations: EU Locations: Italian
Shares of Palo Alto plunged 28% on Feb. 21, a session after the company delivered a more cautious outlook for the rest of 2024. The shift in business strategy requires Palo Alto to give customers its new services and products for free to demonstrate their many benefits. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance 2. The Club is focused on how much industry spend is going to Palo Alto versus competitors, but we're not concerned about demand for the company's offerings. In this photo illustration the Palo Alto Networks logo seen displayed on a smartphone and on the background.
Persons: Morgan Stanley, Sellers, Nikesh Arora, Palo, We'd, it's, PANW, Arora, Jim Cramer, We've, nudging, Stephen Vintz, we're, Jim, Jim Cramer's, Rafael Henrique Organizations: Palo Alto Networks, Wall Street, Palo, Tech, Barclays, Palo Alto, billings, Wall, Alto Networks, UnitedHealth Group, Change, Healthcare, Club, Microsoft, Vans, Corp, Caesars Entertainment, Securities, Exchange, US Fed, CNBC, Networks, Getty Locations: Palo Alto, U.S, Palo, billings, Palo Alto's, Alto
Reuss also touted the competitiveness of GM's Chinese joint venture partners such as Wuling Motors. GM's market share in China, including its joint ventures, has plummeted from roughly 15% as recently as 2015 to 8.6% last year — the first time it has dropped below 9% since 2003. DETROIT – General Motors believes it can regain market share in China after hitting a roughly 20-year low last year amid changing market conditions and increased domestic competition, GM President Mark Reuss said Thursday. The market declines have spurred questions on whether GM would exit China, as it has other underperforming markets in recent years. The automaker said Steve Hill, currently GM's vice president of global commercial operations, would succeed GM China President Julian Blissett, effective June 1.
Persons: Mark Reuss, Reuss, " Reuss, Mary Barra, Steve Hill, Julian Blissett Organizations: Hamtramck Assembly, Wuling Motors, GM, Buick, DETROIT –, Motors, JV, Financial Times, Car, U.S . GM's, Chevrolet, China Locations: Detroit, Hamtramck, Michigan, China, DETROIT, U.S . GM's U.S
Higher interest rates in the United States and other countries mean investors can make bigger returns on investments there than they can in Japan. This encourages carry trades, in which investors borrow money in yen to invest it in higher-yielding assets priced in other currencies. That weakens the Japanese currency. A Big Mac costs 50% more in the next cheapest G10 currency, the New Zealand dollar, than it does in yen, he added. … and lots of drawbacksBut the falling yen has caused much pain at home and not just for small businesses like Japan Fraise.
Persons: hasn’t, Hiroko Ishikawa, “ It’s, ” Ishikawa, , we’re, We’re, Himari Semans, That’s, ” Nigel Green, Kit Juckes, Warren Buffett, ” Sean Callow, , Sato Hitomi, Semans, I’ve, , Laura He, Chris Lau Organizations: Tokyo CNN, US, Reserve, CNN, Nikkei, Bank of Japan, deVere, greenback, Labor, Societe Generale, New Zealand, Japan’s National Tourism Organization, Tokyo’s Locations: Hong Kong, Tokyo, Japan, United States, Sydney, Hawaii
Sacconaghi has a $195 price target on shares, suggesting 15% upside from Wednesday's close. Bernstein is optimistic that the ongoing weakness in the China market "is more cyclical than structural." Oppenheimer analyst Martin Yang lowered his forecast for the current quarter ahead of the report, accounting for softer iPhone sales trends in China. Sankar has a buy rating and a price target of $220. Malik reiterated his buy rating on the stock ahead of the announcement while notching down his price target to $210 from $220.
Persons: Tesla, Bernstein, Toni Sacconaghi, Sacconaghi, Oppenheimer, Martin Yang, Yang, Samik Chatterjee, Chatterjee, TD Cowen's Krish Sankar, Sankar, JPMorgan's Chatterjee, Atif Malik, Malik, Cowen's Sankar Organizations: Apple, Wall Street, Huawei, Counterpoint Research, JPMorgan, Citi Locations: China, India
ING: We are comfortable regardless of interest rate environment
  + stars: | 2024-05-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailING: We are comfortable regardless of interest rate environmentTanate Phutrakul, CFO of ING, says a banking union is necessary for competitiveness in European banking.
Organizations: ING
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailErste Group Bank: Scaling back is key to competitiveness in EuropeErste Group Bank CFO Stefan Dörfler says there is a need for consolidation in Europe.
Persons: Stefan Dörfler Organizations: Email Erste Group, Europe Erste Group Bank Locations: Europe
Read previewThe Biden administration this week pushed out a slate of rules it says are meant to boost competitiveness and put more money into workers' pockets. There are already challenges to at least one of the rules — but together they could land overtime pay for millions more workers, ban noncompetes that prevent workers from moving into jobs in similar industries, and help people get automatic refunds for delayed or canceled flights. More workers eligible for overtime payUnder the Department of Labor's new rule, many workers who make under $43,888 will be eligible for overtime pay effective July 1. A ban on noncompetes that keep workers from taking new jobsPerhaps the most sweeping action for workers came from the Federal Trade Commission, which finalized a rule to ban noncompetes in most cases. Will a ban on noncompetes, new overtime thresholds, or airline refunds affect your life?
Persons: , Biden, Lael Brainard, That's, it's, Judy Conti, Pete Buttigieg, Brainard, Aaron, Ryan, John Smith, Suzanne Clark, Jeremy Merkelson, Davis Wright Tremaine, Merkelson, Elizabeth Wilkins, Wilkins Organizations: Service, Business, National Economic Council, Department of, National Employment Law, of Transportation, Federal Trade Commission, . Upjohn Institute, Employment Research, of Commerce, Texas Association of Business, Federal Trade, Chamber of Commerce, FTC
Ceramics maker Maruwa is helping cool data centers amid the AI boom. Maruwa's 200-year history in ceramics contributes to its competitive edge. AdvertisementThe AI boom is driving a surge in data center construction that's sucking up tons of energy. By 2030, data centers are expected to consume 35 gigawatts of power annually, up from 17 gigawatts in 2022, according to McKinsey & Company. Related storiesThis is welcome news to perhaps no one more than a centuries-old Japanese ceramics maker that got its start making dinnerware.
Persons: , Goldman Sachs, Mitsuhiro Icho Organizations: Maruwa, Service, McKinsey & Company, CNET, McKinsey, Financial Times
The highly anticipated trading debut of private equity group CVC Capital Partners shows that Europe's initial public offering market is back on track, Euronext CEO Stéphane Boujnah told CNBC on Friday. Shares of Amsterdam-listed CVC, one of Europe's largest buyout companies, jumped around 23% on Friday morning. The IPO is widely expected to be one of Europe's largest this year. Boujnah said the Euronext platform, the largest stock exchange in Europe and one of the largest in the world, had welcomed 11 stock listings since the beginning of the year. "That's a signal of both the success of the Euronext platform and the competitiveness of the Euronext platform — and a signal of the IPO market being back," he added.
Persons: Stéphane Boujnah, Euronext's Boujnah, CNBC's, Boujnah Organizations: Capital Partners, CNBC, CVC, Reuters, Euronext Locations: Amsterdam, Europe
David Paul Morris | Getty Images News | Getty ImagesThe iPhone could have had an Intel chip inside. It would've made sense to use Intel chips, which ran on the best desktops at the time, including Apple's Macs. Braithwaite, who worked at Intel in the 1980s, said Intel's process engineers were the company's "crown jewels." Intel doesn't have a GPU competitor to Nvidia's AI accelerators, but it has an AI chip called Gaudi 3. For comparison, AMD expects about $2 billion in annual AI chip revenue.
Persons: Pat Gelsinger, Seth Wenig, Gelsinger, Biden, Nicholas Braithwaite, Akshara Bassi, It's, Steve Jobs, David Paul Morris, Apple, Paul Otellini, Walter Isaacson's, Otellini, Isaacson, Jobs, Apple didn't, Apple —, TSMC, Mikako Kitagawa, Joe Biden, Brendan Smialowski, Braithwaite, Gordon Moore, Moore's, Brian Krzanich, 7nm —, TSMC didn't, Jensen Huang, Josh Edelson, OpenAI, Gaudi, Intel's, it's, Bassi, CNBC's Jon Fortt Organizations: Intel, Taiwan Semiconductor Manufacturing Company, Nvidia, Micro Computer, Qualcomm, Broadcom, Texas Instruments, AMD, Apple, Celesta, Meta, Microsoft, Getty, Samsung, Gartner, Asus, AFP, Semiconductor, Engineers, SAP Center, Afp, Companies, Blackwell, Habana Labs, Gaudi, FactSet, U.S Locations: New York, American, U.S, Chandler , Arizona, California, San Jose , California, Taiwan, Columbus , Ohio
Solar panels stand at the Welspun Energy solar power plant in Neemuch, Madhya Pradesh, India. One sector in particular — electrical power transmission — will see $270 billion in financial benefits, according to Goldman Sachs. While utilities like the Power Grid Corporation of India may be perceived as unsexy, compared to growth stocks like Tesla, India plans to promote renewable energy without the taxpayer spending a single rupee. The country has added about 70 gigawatts of solar power capacity over the past decade without piling on further costs by simply maximizing the grid's usage. Currently, state governments in India levy surcharges and taxes on every unit of carbon-intensive energy transmitted through the grid.
Persons: Vivek Prakash, Elon Musk, Narendra Modi, Goldman Sachs, It's, Vinay Dwivedi, India Anna Dravida, Vinay, Modi, Mohamed Muizzu's, Jamie Dimon, Modi's Organizations: Bloomberg, Getty, U.S, Power Grid Corporation of India, Goldman, Companies, Reliance Industries, Adani Enterprises, Tamil Nadu —, Dravida Munnetra Kazhagam, India Anna Dravida Munnetra Kazhagam, CNBC, Modi's Bharatiya Janata Party, Vodafone Idea, Vodafone, West, Economic, of New, JPMorgan, CNBC Pro, we'll Locations: Neemuch, Madhya Pradesh, India, Tamil Nadu, Dravida, New Delhi, Maldives, China, Beijing, West Indies, Pakistan, U.S, of New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigher energy prices in Germany impact competitiveness of manufacturers, economist saysTimo Wollmershäuser, head of economic forecasts at IFO, discusses the German economy and the competitiveness of companies.
Persons: Timo Wollmershäuser Locations: Germany
Stagwell Group, the advertising agency holding group operated by Mark Penn, a former advisor to Bill and Hillary Clinton, is actively looking to buy adtech companies as it continues to grow through acquisitions. Penn's theory is that by bringing such adtech in-house, Stagwell can offer more self-service software to advertisers who want it while also shrinking those clients' ad prices and expanding its own margins. Challenger brand Stagwell is competing for bigger contractsPenn founded Stagwell Group in 2015 with $250 million in funding from investors, including former Microsoft Chief Executive Steve Ballmer. Stagwell recently made a near-$700-million bid for S4 Capital, another challenger ad company founded by longtime WPP CEO Martin Sorrell, The Wall Street Journal reported. Publicis Groupe has the biggest market capitalization of the largest holding companies, at $28.2 billion, while Stagwell is trading at around $1.6 billion.
Persons: Mark Penn, Bill, Hillary Clinton, Penn, we're, Stagwell, Penn didn't, Ana Milicevic, Milicevic, Brian Wieser, Wieser, Steve Ballmer, Sunny, GALE, Allison, Martin Sorrell, they're Organizations: Stagwell, Penn, Business, Google, Harris Poll, Next Partners, Sparrow, Madison, Challenger, Stagwell Group, Microsoft, MDC Partners, WPP, Publicis Groupe, Veritas, S4 Capital, Street Journal, S4, EMEA Locations: adtech, London
These are the ten smartest cities in the world, according to IMD. This year's index was produced by the IMD World Competitiveness Center's Smart City Observatory in collaboration with the World Smart Sustainable Cities Organization (WeGO) that's based in Seoul, South Korea. Smart cities in Europe and Asia are gaining ground globally while North American cities have fallen down the ranks, according to the 2024 Smart City Index released April. Here are the top 10 smart cities, according to the 2024 Smart City Index. While European cities dominated the list, Asian cities are gaining ground too.
Persons: Bruno Lanvin, Lanvin Organizations: IMD, Smart, Smart Sustainable Cities Organization, United Arab Emirates, Washington DC, San, U.S, Boston, CNBC Locations: Seoul, South Korea, Europe, Smart, Asia, Zurich, Switzerland Oslo, Norway Canberra, Australia Geneva, Switzerland Singapore Copenhagen, Denmark Lausanne, Switzerland London, England Helsinki, Finland Abu Dhabi, Denver, Los Angeles, San Francisco, New York City, Chicago, Singapore, Beijing, Taipei City, Shanghai
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompetitiveness is key for European growth, says Greek finance ministerKostis Hatzidakis, Greece's minister of national economy and finance, discusses what has underpinned strong growth in his country and which EU fiscal policies he supports.
Persons: Kostis Hatzidakis Organizations: Competitiveness
Daniel Bosma | Moment | Getty ImagesExplorer and environmentalist Bertrand Piccard has called for a renewed focus on cutting energy waste, saying it's "hopeless" to shift to renewables without improving efficiency. "So if we try to replace fossil [fuel] energy with renewables without being efficient, without reducing the consumption, it's hopeless," he said. Another issue Piccard highlighted was that some countries only consider wind and solar as alternative renewable energy sources. Geothermal energy accounted for just 2.7% of renewable energy consumption, while wind power was 13.2% and solar energy was 7.2%. 'Paradox' of China's solar panel oversupplyPiccard also discussed the ongoing concerns about the potential oversupply of solar panels from China to the European market.
Persons: Daniel Bosma, Bertrand Piccard, Piccard, CNBC's Silvia Amaro, bioenergy, Janet Yellen Organizations: CNBC, Solar Impulse, European Commission, Treasury Locations: Netherlands, Europe, China, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEurogroup president says Europe needs to take steps to enhance its own competitivenessEurogroup President Paschal Donohoe discusses the state of play in the Europe and shares his views on what can be done to reduce internal hurdles in the EU’s single market.
Persons: Paschal Donohoe Locations: Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU economics chief says the region needs a 'more assertive' industrial policy and competitivenessPaolo Gentiloni, Commissioner for Economy, European Commission joins CNBC's Karen Tso on the sidelines of the International Monetary Fund Spring Meetings.
Persons: Paolo Gentiloni, Karen Tso Organizations: EU, Economy, Commission, International Monetary
Reuters —The Biden administration will award up to $6.4 billion in grants to South Korea’s Samsung Electronics to expand its chip production in central Texas as part of a broader effort to boost US chipmaking, the Department of Commerce said on Monday. The funding from the 2022 Chips and Science Act will support two chip production facilities, a research center and a packaging facility, in Taylor, Texas, the agency said, as previously reported by Reuters. It will also enable Samsung to expand its Austin, Texas, semiconductor facility, Commerce Department Secretary Gina Raimondo added, while boosting chip output for the aerospace, defense and auto industries and bolstering national security, administration officials told reporters. Samsung is expected to invest roughly $45 billion in building and expanding its Texas facilities through the end of the decade, said senior administration officials. Intel won $8.5 billion in grants last month while Taiwan’s TSMC clinched $6.6 billion in April to build out its American production.
Persons: Reuters —, Biden, Gina Raimondo, ” Raimondo, Kyung Kye Hyun, , Samsung, , John Cornyn, Taiwan’s TSMC Organizations: Reuters, South, Samsung Electronics, Department of Commerce, Samsung, Commerce, Samsung Electronics Co, Analysts, Semiconductor Industry Association, SIA, Lawmakers, Texans, Republican, US Commerce Department, ” SIA, Intel Locations: Texas, Taylor , Texas, Austin , Texas, United States, China, Taiwan, Republican U.S
Arthur Mensch, tall and lean with a flop of unkempt hair, arrived for a speech last month at a sprawling tech hub in Paris wearing jeans and carrying a bicycle helmet. Mr. Mensch, 31, is the chief executive and a founder of Mistral, considered by many to be one of the most promising challengers to OpenAI and Google. revolution, the French government has singled out Mistral as its best hope to create a standard-bearer, and has lobbied European Union policymakers to help ensure the firm’s success. should not be dominated by tech giants, like Microsoft and Google, that might forge global standards at odds with the culture and politics of other countries. At stake is the bigger question of which artificial intelligence models will wind up influencing the world, and how they should be regulated.
Persons: Arthur Mensch, Mensch, ” Matt Clifford, Europe scrambles Organizations: Mistral, Google, European Union, Microsoft Locations: Paris, United States, China, France, British, Europe
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWall Street has been hopeful that M&A activity will return this year as rates fall. On Friday, the bank reported $41.9 billion in revenue for the quarter, up 9% year-over-year — a figure that surpassed analysts' expectations. The retreat from dealmaking produced a nine-year low in terms of the number of individual M&A transactions in the quarter, LSEG reported. Dimon's warningsThe comments from JPMorgan's top brass come as Dimon issues warnings about the prospect of a gloomier economic environment.
Persons: , Jamie Dimon, Jeremy Barnum, Barnum, Biden, that's, Goldman Sachs, Stephan Feldgoise, LSEG, EY, Dimon, Reed Alexander Organizations: Service, JPMorgan, Business, London Stock Exchange Group Locations: megamergers, dealmaking, Asia, Pacific
Sergio Ermotti, CEO of Swiss banking giant UBS, during the group's annual shareholders meeting in Zurich on May 2, 2013. Fabrice Coffrini | Afp | Getty ImagesSwitzerland's tough new banking regulations create a "lose-lose situation" for UBS and may limit its potential to challenge Wall Street giants, according to Beat Wittmann, partner at Zurich-based Porta Advisors. The government-backed takeover was the biggest merger of two systemically important banks since the Global Financial Crisis. At $1.7 trillion, the UBS balance sheet is now double the country's annual GDP, prompting enhanced scrutiny of the protections surrounding the Swiss banking sector and the broader economy in the wake of the Credit Suisse collapse. The Wednesday report floated giving additional powers to the Swiss Financial Market Supervisory Authority, applying capital surcharges and fortifying the financial position of subsidiaries — but stopped short of recommending a "blanket increase" in capital requirements.
Persons: Sergio Ermotti, Fabrice Coffrini, Beat Wittmann, Wittmann, Wittman, Goldman Sachs, Morgan Stanley — Organizations: UBS, Afp, Getty, Wall, Porta Advisors, Swiss, Credit Suisse, Suisse, Swiss Financial Market, Authority, JPMorgan, Citigroup Locations: Zurich, Switzerland
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