Kamis, 06 Juni 2019

Google cloud boss Thomas Kurian makes his first big move — buys Looker for $2.6 billion - CNBC

Thomas Kurian, CEO of Google Cloud and formerly president of product development at Oracle, speaks at the Oracle OpenWorld conference in San Francisco on Oct. 3, 2017.

David Paul Morris | Bloomberg | Getty Images

Google is set to acquire Looker in what will be its new cloud chief's first major acquisition in his tenure. Google said it will buy Looker for $2.6 billion in cash.

Former Oracle executive Thomas Kurian joined Google Cloud as its new CEO in November, replacing former CEO Diane Greene. Kurian indicated at a conference in February he is looking to invest and expand the business significantly, saying, "You will see us accelerate the growth even faster than we have to date."

Google parent company Alphabet has already invested in Looker through its venture fund, Capital G. It will be Google's biggest acquisition since it bought smart home company Nest, another Alphabet-funded company, for $3.2 billion in 2014.

Google has been trying to gain market share from industry leader Amazon Web Services, which reported $7.7 billion in revenue for the last quarter. Google does not break out revenue for its cloud business, but has said it brings in more than $1 billion per quarter between its public cloud and cloud apps. Google had 7.6% of the cloud market share at the end of 2018 compared to 13.7% for Microsoft and 32% for Amazon, according to a report from Canalys.

The purchase of Looker will add a new analytics tool for Google Cloud's customers. Google said the technology will help its customers analyze their data in a consistent way across different sources and help Google provide industry-specific analytics for its targeted verticals. Google said in its press release that it already shared over 350 customers through an existing partnership, including Buzzfeed, Yahoo and Hearst.

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Watch: Google buys data analytics platform Looker in $2.6 billion deal

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https://www.cnbc.com/2019/06/06/google-buys-cloud-company-looker-for-2point6-billion.html

2019-06-06 13:27:20Z
CAIiENmcEeMSu5qgMuWK2fPIwCcqGQgEKhAIACoHCAow2Nb3CjDivdcCMJ_d7gU

Euro hits session high as ECB strikes a dovish tone with revised forward guidance - CNBC

The euro jumped to a session high against the U.S. dollar on Thursday, after the European Central Bank (ECB) said it would delay its first post-crisis interest rate hike until at least the middle of next year.

In a move that was well-flagged, ECB President Mario Draghi also offered to pay banks if they borrow cash from the central bank and pass it on to households and firms.

Trade tensions and fears of a global recession have put markets in a state of flux this week, with market participants increasingly hopeful ECB President Mario Draghi could signal a late burst of monetary support before his term ends in October.

The central bank said interest rates on its marginal lending facility and deposit facility would remain unchanged at 0%, 0.25% and -0.40%, respectively. These have been at record lows following the euro sovereign debt crisis of 2011 in an effort to boost inflation and stimulate growth.

In a surprise revision to its forward guidance, the ECB said in a statement that the governing council "now expects the key ECB interest rates to remain at their present levels at least through the first half of 2020."

The euro climbed 0.4% to reach a session high of $1.1266 shortly after the announcement.

Investors are expected to closely monitor comments from Draghi's news conference at 1:30 p.m. London time. He is also set to unveil fresh staff economic forecasts that could show lower growth next year.

ECB policymakers met in Vilnius, Lithuania this week to review updated forecasts and plunging inflation expectations.

'Playing to the markets'

"It is more dovish than we probably expected ... But I wouldn't say the ECB is really getting ahead of the curve," Florian Hense, European economist at Berenberg, told CNBC's Julianna Tatelbaum on Thursday.

Hense said he believed the ECB's revised forward guidance showed the central bank was happy to follow in the footsteps of the Federal Reserve by "playing to the markets."

The ECB's interest rate announcement comes at a time when the mood has shifted among some of its global peers. Australia's central bank cut interest rates for the first time in three years on Tuesday, while the U.S. Federal Reserve has recently signaled an openness to easing if necessary.

Meanwhile, India's central bank cut its benchmark interest rate for third time this year on Thursday and expectations are building that the Bank of Japan could also add stimulus soon.

In April, Draghi said policymakers at the ECB would look at how monetary policy is working when setting the terms for its new cheap loan program for banks — the TLTROs (targeted longer-term refinancing operations).

Essentially, these loans should make the euro zone's banks lend more to the real economy. They have a negative deposit rate so they would pay lenders for taking the cash, meaning it's a strong incentive for the banks to use them.

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https://www.cnbc.com/2019/06/06/ecb-european-central-bank-holds-interest-rates-steady.html

2019-06-06 12:28:57Z
52780309219145

Euro hits session high as ECB strikes a dovish tone with revised forward guidance - CNBC

Mario Draghi, president of the European Central Bank (ECB), speaks at a press conference following an International Monetary Fund Committee (IMFC) plenary session at the spring meetings of the International Monetary Fund (IMF) and World Bank in Washington, D.C., U.S., on Saturday, April 13, 2019.

Joshua Roberts | Bloomberg | Getty Images

The euro jumped to a session high against the U.S. dollar on Thursday, after the European Central Bank (ECB) said it would delay its first post-crisis interest rate hike until at least the middle of next year. 

In a move that was well-flagged, ECB President Mario Draghi also offered to pay banks if they borrow cash from the central bank and pass it on to households and firms. 

Trade tensions and fears of a global recession have put markets in a state of flux this week, with market participants increasingly hopeful ECB President Mario Draghi could signal a late burst of monetary support before his term ends in October.

The central bank said interest rates on its marginal lending facility and deposit facility would remain unchanged at 0%, 0.25% and -0.40%, respectively. These have been at record lows following the euro sovereign debt crisis of 2011 in an effort to boost inflation and stimulate growth.

In a surprise revision to its forward guidance, the ECB said in a statement that the governing council "now expects the key ECB interest rates to remain at their present levels at least through the first half of 2020."

The euro climbed 0.4% to reach a session high of $1.1266 shortly after the announcement. 

Investors are expected to closely monitor comments from Draghi's news conference at 1:30 p.m. London time. He is also set to unveil fresh staff economic forecasts that could show lower growth next year. 

ECB policymakers met in Vilnius, Lithuania this week to review updated forecasts and plunging inflation expectations.

It comes at a time when the mood has shifted among some of its global peers. Australia's central bank cut interest rates for the first time in three years on Tuesday, while the U.S. Federal Reserve has recently signaled an openness to easing if necessary.

Meanwhile, India's central bank cut its benchmark interest rate for third time this year on Thursday and expectations are building that the Bank of Japan could also add stimulus soon.

In April, Draghi said policymakers at the ECB would look at how monetary policy is working when setting the terms for its new cheap loan program for banks — the TLTROs (targeted longer-term refinancing operations).

Essentially, these loans should make the euro zone's banks lend more to the real economy. They have a negative deposit rate so they would pay lenders for taking the cash, meaning it's a strong incentive for the banks to use them.

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https://www.cnbc.com/2019/06/06/ecb-european-central-bank-holds-interest-rates-steady.html

2019-06-06 11:46:13Z
52780309219145

Fiat Chrysler bails; ECB time; Stock market gains - CNN

The company said Wednesday that it "has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully."
Earlier in the day, Renault said that the French government had requested its board of directors postpone the vote on the merger.
France, which owns 15% of Renault and is the company's largest shareholder, previously indicated that it would support a merger if the companies protect French jobs and auto plants.
Shares in Renault plunged nearly 7% in Paris on Thursday after the proposal was withdrawn. Fiat Chrysler stock dropped 1.6% in Milan.
2. ECB time: The European Central Bank meets Thursday as global trade tensions escalate and the race to find a replacement for president Mario Draghi heats up.
Analysts expect the central bank to outline details on additional cheap loans for banks while maintaining historically low interest rates.
Almost certain to come up: whether Draghi and the ECB would be open to cutting interest rates lower still.
"Draghi may have to adopt a dovish tone again, and, at least, not rule out rate cuts if asked about them," Bank of America Merrill Lynch analysts said recently in a research note.
The US Federal Reserve suggested it could cut rates earlier this week, driving markets higher. Fed Chair Jerome Powell said that he's closely monitoring developments on trade, and that the bank will "act as appropriate to sustain the expansion."
Meanwhile, India's central bank on Thursday gave the country its third consecutive interest rate cut as it tries to get a slumping economy back on track.
3. Market gains: US stock futures point to another day of gains as investors stay hopeful that the Federal Reserve could cut interest rates.
The Dow is poised to rise 70 points, or 0.3%. The Nasdaq and S&P 500 are set for a similar jump.
European markets opened higher after a mixed session for stocks in Asia. Britain's FTSE 100 rose 0.6%, while Germany's DAX index added 0.5%.
In Hong Kong, the Hang Seng rose 0.2%, while Japan's Nikkei closed flat. The Shanghai Composite, however, dropped 1.2%.
The Dow closed up 0.8% on Wednesday, logging its third consecutive day of gains. The S&P 500 was up 0.8%, and the Nasdaq added 0.6%.
4. Coming this week:
Thursday — ECB and Reserve Bank of India rate decisions; Europe's GDP growth estimate; Beyond Meat earnings
Friday — US jobs report

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https://www.cnn.com/2019/06/06/investing/premarket-stocks-trading/index.html

2019-06-06 11:17:00Z
52780307348417

Never-Ending Phone Spam Is Turning Off Consumers - NPR

Spam phone calls are the No. 1 consumer complaint at the Federal Communications Commission. Seventy percent of people no longer answer calls they don't recognize, according to Consumer Reports. smartboy10/Getty Images hide caption

toggle caption
smartboy10/Getty Images

The spam calls keep coming, offering you loans or threatening you with jail time for IRS violations. By some estimates, they make up at least a quarter of all calls in the United States.

And as the problem continues to grow, it creates a whole new set of related nuisances for people like Dakota Hill.

He estimates he gets hundreds of unwanted spam calls every month. But Hill says he also gets calls from people who think he's spamming them.

In addition to hundreds of unwanted spam calls every month, Dakota Hill says he fields calls from people who think he's spamming them. Courtesy of Jade Hewitt hide caption

toggle caption
Courtesy of Jade Hewitt

People call, asking: "Do I know you?" or "Why did you wake me up?"

In fact, Hill didn't place any of those calls. He figures his number is being "spoofed"; fraudsters use software to trick the caller ID system to make it appear as though calls are coming from his phone.

He explains this, over and over, to the people calling him.

There is an irony here. The cellphone has become our everything — our wallet, photo archive, computer and music library. But it's also becoming less appealing as a phone. Consumer Reports found that 70% of people no longer answer calls they don't recognize. Regulators and industry are combating junk calls. But at least so far, they haven't succeeded.

The Federal Communications Commission, which regulates phone companies, itself has been targeted.

"We've seen recently scammers using our number, spoofing our number, to try to convince consumers that they're from the FCC and in some way get money out of them," says Patrick Webre, chief of the agency's consumer bureau.

He says spam calls are the No. 1 consumer complaint and a top priority for the agency. FCC Chairman Ajit Pai has demanded that all U.S phone carriers install new technology to authenticate real calls and flag potential spam by the end of this year.

The battle against phone spam is so big that there's a sub-industry combating it.

At Hiya, a Seattle technology startup that's designing ways to block spam calls, U.S. calls are tracked on giant computer monitors. Jonathan Nelson, director of product management, says consumers are adapting — by not answering the phone and letting calls go to voicemail.

But spammers then devise clever new ways of bilking people. The latest example is the "one ring" scam, which emerged May 3. That day, Nelson's monitors turned a flurry of red.

"It was [an] explosion of calls," he says. "We'd never seen that level of volume before."

This scam involves robocallers hanging up after one ring, hoping to trick the victim into calling back on an expensive international toll line, mostly to West Africa.

Scams are easy to perpetrate and hard to stop, largely because technology allows calls to go out by the millions with the click of a button. Many scams prey on fear — of arrest or investigation by a government agency — and target immigrants, taxpayers, debtors or retirees.

And to be profitable, spammers need only a small fraction of recipients to fall for the scam. Scams cost Americans an estimated $10.5 billion a year, according to spam blocker Truecaller. But their success, Nelson says, comes at a high cost to consumers: "We're kind of seeing the death of the phone call."

Most cellphone carriers recognize they need to step up the fight.

Chris Oatway, associate general counsel for Verizon Wireless, calls the fight with spammers an "arms race" and says the company is investing more than ever in technologies to detect, identify and trace junk calls. "The key here is to restore trust in voice calls," he says.

But doing so is complicated, because telephone networks are so interconnected. If another wireless carrier doesn't flag a spam call, Verizon's network might not recognize it's a problem and let it go through. Oatway says that's just one way spammers might still succeed.

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https://www.npr.org/2019/06/06/727711432/do-i-know-you-and-other-spam-phone-calls-we-can-t-get-rid-of

2019-06-06 09:00:00Z
CAIiEMU9jFYdtF3KHQGHAm86fgcqFggEKg4IACoGCAow9vBNMK3UCDCvpUk

Fiat Chrysler bails; ECB time; Stock market gains - CNN

The company said Wednesday that it "has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully."
Earlier in the day, Renault said that the French government had requested its board of directors postpone the vote on the merger.
France, which owns 15% of Renault and is the company's largest shareholder, previously indicated that it would support a merger if the companies protect French jobs and auto plants.
Shares in Renault plunged nearly 7% in Paris on Thursday after the proposal was withdrawn. Fiat Chrysler stock dropped 1.6% in Milan.
2. ECB time: The European Central Bank meets Thursday as global trade tensions escalate and the race to find a replacement for president Mario Draghi heats up.
Analysts expect the central bank to outline details on additional cheap loans for banks while maintaining historically low interest rates.
Almost certain to come up: whether Draghi and the ECB would be open to cutting interest rates lower still.
"Draghi may have to adopt a dovish tone again, and, at least, not rule out rate cuts if asked about them," Bank of America Merrill Lynch analysts said recently in a research note.
The US Federal Reserve suggested it could cut rates earlier this week, driving markets higher. Fed Chair Jerome Powell said that he's closely monitoring developments on trade, and that the bank will "act as appropriate to sustain the expansion."
Meanwhile, India's central bank on Thursday gave the country its third consecutive interest rate cut as it tries to get a slumping economy back on track.
3. Market gains: US stock futures point to another day of gains as investors stay hopeful that the Federal Reserve could cut interest rates.
The Dow is poised to rise 70 points, or 0.3%. The Nasdaq and S&P 500 are set for a similar jump.
European markets opened higher after a mixed session for stocks in Asia. Britain's FTSE 100 rose 0.6%, while Germany's DAX index added 0.5%.
In Hong Kong, the Hang Seng rose 0.2%, while Japan's Nikkei closed flat. The Shanghai Composite, however, dropped 1.2%.
The Dow closed up 0.8% on Wednesday, logging its third consecutive day of gains. The S&P 500 was up 0.8%, and the Nasdaq added 0.6%.
4. Coming this week:
Thursday — ECB and Reserve Bank of India rate decisions; Europe's GDP growth estimate; Beyond Meat earnings
Friday — US jobs report

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https://www.cnn.com/2019/06/06/investing/premarket-stocks-trading/index.html

2019-06-06 08:59:00Z
52780307348417

Fiat Chrysler withdraws proposed merger with Renault - CNN

The company said Wednesday that it "has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully."
Earlier in the day, Renault (RNLSY) said that the French government had requested its board of directors postpone the vote on the merger.
France, which owns 15% of Renault and is the company's largest shareholder, previously indicated that it would support a merger if the companies protect French jobs and auto plants.
Shares in Renault plunged nearly 7% in Paris on Thursday after the proposal was withdrawn. Fiat Chrysler stock dropped 1.6% in Milan.
Jeep's incredible popularity is one thing Renault could really use
Renault could not be reached for further comment Wednesday.
The deal would have created the world's third largest carmaker behind Volkswagen (VLKAF) and Toyota (TM). General Motors (GM) would have fallen to fourth in the global ranking.
The proposal was the latest example of established automakers seeking partnerships to share the costs of developing new technologies including electric vehicles and autonomous driving systems.
Fiat Chrysler (FCAU) owns brands including Jeep, Dodge, Alfa Romeo and Maserati. Among its top markets is North America, where Renault does not have a significant presence.
When it first made the merger proposal last month, Fiat Chrysler said a combination would produce annual cost savings of more than €5 billion ($5.6 billion). The company said no plants would be closed as a result of a merger.
Renault is already part of a major global alliance with Japanese automakers Nissan (NSANF) and Mitsubishi Motors. Renault and Nissan both own major stakes in one another.
That alliance was put under pressure when Carlos Ghosn, the architect of the partnership and the former chairman of Nissan and Renault, was arrested last year in Japan and accused of financial wrongdoing.
Nissan declined to comment on Fiat Chrysler's withdrawal.
With its hands-free system, Nissan could beat Tesla at its own game
Nissan, Renault and Mitsubishi Motors together employ more than 470,000 people in nearly 200 countries. They sold more than 10.6 million cars worldwide in 2018.
All three alliance members renewed their commitment to one another last year after Ghosn was arrested, but tensions linger among the partners.
Fiat Chrysler was itself formed as a merger of two struggling automakers. Fiat bought a controlling stake in Chrysler following the US government bailout of the company in 2009. They were formally merged in 2014.
Fiat Chrysler is a distant fourth in US sales and eighth globally. The company has also trailed its competitors in adopting electric vehicle and self-driving technology.
Sergio Marchionne, its former CEO who passed away a year ago, had spoken openly of the need to merge Fiat Chrysler with a larger automaker to give it the scale and resources to compete.
He had even sought a merger with General Motors, only to be rebuffed. He had been far more blunt than other auto executives about the threat to the industry that new entrants such as Google (GOOGL) posed to automakers.

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https://www.cnn.com/2019/06/05/business/fiat-chrysler-renault-merger-withdrawal/index.html

2019-06-06 08:14:00Z
CAIiENuVUp_aFgo4t9IwitzOO8cqGQgEKhAIACoHCAowocv1CjCSptoCMPrTpgU