Showing posts from February, 2020

Analysis | The Cybersecurity 202: Huawei official accuses U.S. of targeting the telecom to hurt China

By Joseph Marks 12-15 minutes - Source: The Washington Post Andy Purdy, chief security officer at Huawei Technologies USA . ( AP Photo/Richard Drew) THE KEY SAN FRANCISCO – The battle over Huawei is taking place face-to-face here as officials from the U.S. government got a chance to debate directly with the Chinese telecom. After spending months trading jabs through the media – and in court – both sides now get to make their case to a tech-savvy audience about whether or not the future of telecommunications should be built with Chinese technology. Huawei’s Chief Security Officer Andy Purdy, in an interview on the sidelines of the RSA conference, insisted that the company is independent of Beijing – and that U.S. concerns are just a cover to smack China over trade and other issues. “The U.S. is really pissed off at China on a number of issues and they want to hurt Huawei to hurt China,” Purdy told me. “They're very

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Best Buy, Microsoft, Etsy, Box, Square & more

Peter Schacknow 3-4 minutes - Source: CNBC Take a look at some of the biggest movers in the premarket: Best Buy (BBY) – The electronics retailer reported quarterly profit of $2.90 per share , 15 cents a share above estimates. Revenue and comparable-store sale also beat forecasts. Best Buy expects the coronavirus to be a short-term disruption, although it said it cannot determine the exact impact as yet. Keurig Dr Pepper (KDP) – The beverage maker matched forecasts with quarterly earnings of 35 cents per share, although revenue was slightly below estimates. Separately, the company announced a long-term agreement with Nestle to manufacture and distribute Starbucks -branded K-Cup pods in the U.S. and Canada. Microsoft (MSFT) – Microsoft said it did not expect to meet prior guidance for its personal computing segment, due to supply chain disruptions related to the coronavirus outbreak. Booking Holdings (BKNG) – Booking Holdings repor

US Markets | Futures Indicator: Dow set to drop 400 points on report of first US coronavirus case of unknown origin

Fred Imbert 4-5 minutes - Source: CNBC U.S. stock futures on Thursday morning pointed to declines at the day’s open amid concerns the coronavirus may be spreading in the U.S. The CDC confirmed the first U.S. coronavirus case of unknown origin in Northern California, indicating possible “community spread” of the disease. The CDC doesn’t know exactly how the patient, a California resident, contracted the virus. Around 7:30 a.m. ET, Dow Jones Industrial Average futures indicated a drop of 400 points at Thursday’s open. A decline of that magnitude would put the 30-stock average in correction territory, down at least 10% from its 52-week high.  S&P 500 futures and Nasdaq 100 futures also pointed to sharp losses on Thursday. Apple and Intel were among the worst-performing Dow stocks in the premarket, dropping more than 1.5% each. AMD and Nvidia fell 3.3% and 2.5%, respectively. Meanwhile, Gilead Sciences jumped 6.8% after the

Coronavirus live updates: South Korea outnumbers China with daily spike, UK confirms more cases

Sam Meredith, Joanna Tan,Saheli Roy Choudhury,Weizhen Tan 16-20 minutes - Source: CNBC A South Korean health worker sprays disinfectant as part of preventive measures against the spread of the COVID-19 coronavirus , at a residential area near the Daegu branch of the Shincheonji Church of Jesus in Daegu on February 27, 2020. JUNG YEON-JE | AFP via Getty Images 6:15 pm: European stocks slide 2% as coronavirus outbreak spreads to more countries European stocks plummeted further on Thursday as the rapid spread of the coronavirus continues to dominate market sentiment. The pan-European Stoxx 600 fell 2% during European trading hours, with travel and leisure stocks plunging 3.6% to lead losses as almost all sectors and major bourses traded sharply in the red. The spread of the coronavirus — which has now infected more than 81,000 people and killed over 2,700 — continues to rattle markets and policymakers around the world. —

Markets: The FTSE 100 plunges again as Trump fails to reassure investors - business live

Julia Kollewe 15-18 minutes - Source: The Guardian 4m ago 09:59 The coronavirus will force the IMF to tear up its growth forecasts at its Spring Meeting in April, predicts Neil MacKinnon, global macro strategist at VTB Capital: There is no respite for financial markets as the coronavirus spreads outside China. The reality is that the IMF is going to have to rewrite its projections when they are next due in April. While the Fund is not known for ever predicting a recession, and its projections tend to be near consensus thinking, it cannot be ruled out that global GDP growth returns to 2.0% – especially given the EM and Asian economies are at the forefront of supply chain disruptions and export declines. The IMF had predicted global growth of 3.5% this year, up from 3.2% in 2019. That now looks highly unlikely, given the disruption in China. 4m ago 09:59