Tag: Weighs

UK Weighs New Regulatory Unit To Police Tech

Britain’s top antitrust regulator proposed Friday (Oct. 9) that the country contemplate creating a new regulatory unit whose approval would be required before any dominant technology company could make an acquisition in the country.

Andrea Coscelli, chief executive of the Competition and Markets Authority (CMA), noted in a 3,000-word speech delivered digitally from London to a virtual Fordham University event that a year-long examination already established that Google and Facebook have enormous advertising-market power in England.

But even proposed remedies already being considered, such as increasing government watchdog powers over the companies, may not be enough, he said in his virtual keynote speech to the Fordham Competition Law Institute conference. “We are also considering a third pillar which would form part of the new (pro-competition) regime — a parallel merger regime for acquisitions by companies with Strategic Market Status. We are considering whether

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US STOCKS-Tech sell-off weighs on Wall St as Powell warns on recovery

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window)

* Powell says economic recovery far from complete

* Fiscal stimulus talks to continue on Tuesday

* BioNTech jumps on rolling EU review of vaccine candidate

* Indexes: Dow up 0.10%, S&P off 0.06%, Nasdaq down 0.26% (Updates to early afternoon)

Oct 6 (Reuters) – The S&P 500 and the Nasdaq retreated on Tuesday as Federal Reserve Chair Jerome Powell warned the U.S. economic recovery remained far from complete, with a selloff in some of the biggest technology companies also weighing on sentiment.

The domestic rebound could still slip into a downward spiral if the coronavirus is not effectively controlled and growth sustained, Powell said.

“Markets are worried about what the Fed knows that we don’t know,” said John Augustine, chief investment officer at Huntington National Bank in

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GLOBAL MARKETS-Big tech weighs on U.S., world equities, capping gains on Trump’s improving health

* Big tech caps index gains on antitrust threat

* Fed Chair Powell speaks

* Crude extends gains on Trump’s recovery, supply pressures

* Stimulus talks ongoing

* Graphic: 2020 asset performance tmsnrt.rs/2yaDPgn

* Graphic: World FX rates in 2020 tmsnrt.rs/2egbfVh (Updates to U.S. markets open, changes dateline from LONDON to NEW YORK, changes byline)

NEW YORK, Oct 6 (Reuters) – Large-cap tech stocks weighed on U.S. and European equities on Tuesday despite reassurances about President Donald Trump’s improving health and progress toward a stimulus deal.

President Trump said he felt “real good” upon returning to the White House after a three-day hospital stay where he received an experimental treatment for COVID-19.

“The view that Trump appears to be on the road of recovery is benefiting the global markets because it indicates that there is stability in the White House,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in

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Big tech weighs on U.S., world equities, capping gains on Trump’s improving health

NEW YORK (Reuters) – Large-cap tech stocks weighed on U.S. and European equities on Tuesday despite reassurances about President Donald Trump’s improving health and progress toward a stimulus deal.

Men wearing protective face masks chat in front of a screen displaying Nikkei share average and world stock indexes outside a brokerage, amid the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan October 5, 2020. REUTERS/Issei Kato

President Trump said he felt “real good” upon returning to the White House after a three-day hospital stay where he received an experimental treatment for COVID-19.

“The view that Trump appears to be on the road of recovery is benefiting the global markets because it indicates that there is stability in the White House,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

But market-leading large cap tech stocks weighed on U.S. stocks after reports that the U.S. House of Representative’s upcoming

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What’s the best TV brand? A tech expert weighs in

As cold weather creeps into our stay-at-home and work-from-home lives, it’s likely you’ll be spending some quality time with your probably-smart TV this winter — especially if you’re gearing up for the new PlayStation 5 and Xbox Series X. If you’re looking to replace your old set this year, now’s a great time to consider your options given the upcoming Amazon Prime Day 2020 sales event and soon-thereafter Black Friday and Cyber Monday sales events. With literally hundreds of TV models to choose from, however, it’s hard to know where to start. While you might have an idea of the basic features you want from your TV, like size or resolution, those are likely available from a variety of brands. So which one is right for you? To help you navigate the messy world of TVs in 2020, we put together a brief starter guide to the leading TV brands,

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TikTok fate in the balance as judge weighs app store ban

NEW YORK (AP) — Lawyers for TikTok pleaded with a U.S. federal judge on Sunday to delay the Trump Administration’s ban of the popular video sharing program from app stores set to take effect at the end of the day, arguing the move would infringe on First Amendment rights and do irreparable harm to the business.

The 90-minute hearing came after President Donald Trump declared this summer that TikTok was a threat to national security and that it either sold its U.S. operations to U.S. companies or the app would be barred from the country.

TikTok, owned by Chinese company ByteDance, is scrambling to firm up a deal tentatively struck a week ago in which it would partner with tech company Oracle and retailer Walmart and that would get the blessing of the Chinese and American governments. In the meantime, it is fighting to keep the app available in the

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How a top Washington analyst weighs antitrust risk against Big Tech

Paul Gallant, managing director of the Cowen Washington Research Group

H/O: Paul Gallant

A View from the Top is a Q&A series exclusively available on CNBC Pro. CNBC reporters will regularly speak with a business leader about decision-making, investing and industry news.

It’s still anyone’s guess whether and when U.S. law enforcement will bring antitrust charges against the nation’s Big Tech companies, but Paul Gallant, a managing director of the Cowen Washington Research Group, has been trying to determine the odds.

Gallant has been closely tracking the tech scrutiny of Amazon, Apple, Facebook and Google parent Alphabet as federal and state enforcers probe their businesses for potential violations of the U.S. antitrust laws. Along the way, he’s analyzed the likelihood of enforcement action against the four giants. In a November report, Gallant and his colleagues predicted the chances of antitrust lawsuits from federal or state enforcers depending on the

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Pentagon Weighs Restrictions on China’s Largest Chip Maker

The Trump administration is reportedly looking into adding China’s largest chipmaker to the Commerce Department’s entity list, which will severely restrict the company’s business with U.S. firms.

A spokeswoman told Reuters that the Defense Department was working with other agencies to determine whether Semiconductor Manufacturing International Corporation should be blacklisted, similar to the treatment against other Chinese companies such as Huawei and ZTE.

The proposal was confirmed by a Pentagon official, but the reasons for the action were not revealed. However, sources told Reuters that the Trump administration was scrutinizing ties between SMIC and the Chinese military.

In its response to matter, SMIC said that it was “in complete shock” that the Trump administration is considering adding the company to a trade blacklist. SMIC said that its alleged ties with China’s military are “untrue statements and false accusations,” but it remains open to working with the U.S. government to resolve

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