|Bid||1,865.68 x 1000|
|Ask||1,867.05 x 900|
|Day's Range||1,857.25 - 1,886.64|
|52 Week Range||1,566.76 - 2,035.80|
|Beta (5Y Monthly)||1.51|
|PE Ratio (TTM)||82.63|
|Earnings Date||Jan 29, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2,177.93|
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Presidents Emmanuel Macron and Donald Trump agreed to a truce in their dispute over digital taxes that will mean neither France nor the U.S. will impose punitive tariffs this year, a French diplomat said.“Great discussion with @realDonaldTrump on digital tax,” Macron said Monday in a tweet. “We will work together on a good agreement to avoid tariff escalation.”Trump, on Twitter, responded “excellent!” to Macron’s post, without providing any more details. Trump is en route to Davos, Switzerland for the World Economic Forum.A White House readout of the call was notably more muted, saying only that the “two leaders agreed it is important to complete successful negotiations on the digital services tax” and “discussed other bilateral issues.” And neither a White House spokesman nor officials with the U.S. Trade Representative’s office would confirm that the U.S. president had called off his announced tariffs.Still, the possible respite may defuse transatlantic tensions that had been building between Washington and Brussels along another potential trade war front. Last week, Trump signed a cease-fire with China in phase one of a broader deal aimed at balancing trade between the world’s two largest economies.The European Union is an even bigger U.S. trading partner than China and supply chains between the two economies, particularly in automotive and financial services industries, are intertwined in ways that would make a tit-for-tat tariff dispute even more harmful to the world economy.France and the U.S. will continue negotiations along with their European partners until the end of 2020 to agree a global framework that ensures tech companies pay an appropriate amount of tax, the French diplomat said.Macron’s government still hopes to find a solution that fits within discussions at the Organization for Economic Cooperation and Development’s work on the issue, the official added, asking not to be identified in line with French government rules.European finance ministers meeting in Brussels Tuesday will discuss progress of the OECD talks. While the OECD is still working on its proposal for taxing tech companies around the world, France pushed ahead with its own levy last year that hit U.S. internet giants like Google, Apple Inc. and Amazon.com Inc.The U.S. objected, alleging on Dec. 2 that the French tax discriminates against American technology companies, citing Section 301 of a 1974 American law that Trump has thus far reserved to justify tariffs against China. That opened the door to the U.S.’s threat to hit $2.4 billion of French goods with tariffs in retaliation.Among the French products targeted with duties of as much as 100% were luxury items like wine, cheese and makeup. One American wine merchant called it the biggest threat to the industry since Prohibition a century ago.For its part, the French government had warned that the EU would retaliate if the U.S. imposed additional tariffs.The dispute was another headache for European trade officials scrambling to expand their policy arsenal as the U.S. takes aim at a rules-based system for global trade that Trump argues is outdated and tilted against America. It also coincided with a change in leadership at the European Commission, the EU’s executive arm.EU trade commissioner Phil Hogan visited Washington last week for the first time in the job, partly to plead for talks rather than tariffs in disagreements like the French digital tax. At stake, he said, was transatlantic trade in goods and services valued at more than $3 billion a day.“Sounds like a fairly healthy relationship to me,” Hogan said Thursday in the U.S. capital. “So why put tariffs on these EU products to make them more expensive for your people?”The truce follows weeks of discussions between Treasury Secretary Steven Mnuchin and French Finance Minister Bruno Le Maire, who were scheduled to meet Wednesday in Davos, Switzerland, the alpine resort town where government officials and business leaders gather during the winter to discuss whatever is ailing the global economy.U.S. and EU trade relations started to sour in 2018 when the Trump administration invoked national-security considerations to impose tariffs on steel and aluminum from Europe. As a U.S. military ally, the EU was infuriated and promptly retaliated with levies on iconic American brands such as Harley-Davidson Inc. motorcycles and Levi Strauss & Co. jeans.A subsequent U.S. threat to wreak significantly more economic damage by targeting the European auto industry with duties on the same security grounds led to a hastily agreed truce and a pledge by both sides to work toward reducing industrial tariffs across the board.Since then, the Trump administration has refused to start the tariff-cutting negotiations unless Europe includes agriculture in them. Also, it imposed levies on EU products in retaliation over government aid to Airbus SE that was deemed illegal by the World Trade Organization, and disabled the WTO’s appellate body,The EU, meanwhile, is pressing ahead with a plan for tariffs against the U.S. in a parallel WTO case over unlawful subsidies to Boeing Co.Trump, scheduled to speak Tuesday in Davos at the World Economic Forum’s annual meeting, on Sunday reiterated his frustration with Europe as a trading partner.“Europe has had tremendous barriers to us doing business with them. All those barriers are coming down. They have to come down,” he told a conference of farmers in Austin, Texas. “If they don’t come down, we’re going to have to do things that are very bad for them.”He added, “Europe was, in many ways, more difficult -- and is more difficult -- than China.”(Adds Trump comment on Twitter in third paragraph)\--With assistance from Jonathan Stearns, Justin Sink and Chelsea Mes.To contact the reporters on this story: Ania Nussbaum in Paris at firstname.lastname@example.org;William Horobin in Paris at email@example.comTo contact the editors responsible for this story: Ben Sills at firstname.lastname@example.org, Brendan Murray, Wendy BenjaminsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Netflix (NFLX) opens new Paris office and announces development of original French-language productions to expand presence in the country.
Netflix is set to report its Q4 fiscal 2019 earnings results after the closing bell on Tuesday, January 21. The streaming TV giant's stock price has climbed over the last several months but Wall Street is worried about Netflix's growing competition...
French President Emmanuel Macron said on Tuesday he had a "great discussion" with U.S. President Donald Trump over a digital tax planned by Paris and said the two countries would work together to avoid a rise in tariffs. France decided in July to apply a 3% levy on revenue from digital services earned in France by firms with revenues of more than 25 million euros ($28 million) in France and 750 million euros worldwide.
(Bloomberg) -- A senior Amazon.com Inc. executive used a conference in Munich to challenge Facebook Inc.’s record in protecting users’ privacy.“If you don’t pay for the product, you are the product,” Werner Vogels, Amazon’s chief technology officer told Nick Clegg, Facebook’s vice president for global affairs and communications, at the Digital Life Design conference on Monday.Standing in the audience, Vogels -- who introduced himself as working for a “small bookshop” -- asked Clegg how Facebook could claim to protect users if many weren’t aware of how their data is being used.“I think there are things Facebook could do,” to make its relationship with users more explicit, Clegg responded. “Unlike you, I believe an advertising business model where the user doesn’t have to pay is a very ingenious and good thing.”Both companies have come under scrutiny for violating users’ privacy. Speakers using Amazon’s Alexa virtual-assistant collected audio snippets from users and played them to employees hired to help train its voice-recognition software, Bloomberg has reported. Amazon has said that it takes privacy seriously and that select employees listen to only a very small fraction of Alexa requests to improve the service.Read more: Silicon Valley Is Listening to Your Most Intimate MomentsFacebook has come under fire for giving third-parties access to user data, particularly in the wake of the Cambridge Analytica scandal. Last year, it agreed to pay a record $5 billion fine to the Federal Trade Commission to settle an investigation stemming from that controversy, where an outside researcher collected personal data on tens of millions of Facebook users without their consent, and then sold that data to a consultancy working with Donald Trump’s presidential campaign.To contact the reporters on this story: Sarah Syed in London at email@example.com;Oliver Sachgau in Munich at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Amy Thomson, Thomas PfeifferFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Zacks Investment Ideas feature highlights: Tesla, Boeing, Virgin Galactic, Northrop Grumman and Amazon
Sprouts Farmers (SFM) is witnessing higher expenses that are affecting the bottom line. However, initiatives like Fresh Item Management Technology and cost containment might aid performance.
Amazon.com, Inc. (NASDAQ: AMZN) is taking over Pinnacle Logistics air cargo operations in Baltimore, Maryland, and Rockford, Illinois, where it likely will offer jobs to employees Pinnacle plans to lay off, according to media reports. The Rockford layoffs of 1,416 workers would take effect on or around May 12 when Amazon assumes Fort Worth, Texas-based Pinnacle's operations at Chicago Rockford International Airport, according to a report Friday in the Rockford Register Star. Amazon has offered the affected hourly Pinnacle workers jobs with Prime Air, the e-commerce retailer's aviation arm, the newspaper said.
Amazon (AMZN) Twitch witnesses decline in viewer base in fourth-quarter 2019 on account of losing popular streamers to Alphabet, Microsoft and Facebook.
A Minneapolis ordinance imposing a fee on shopping bags at most retailers went into effect on Jan. 1. But two of the city's biggest biggest retailers didn't jump on board right away.
AT&T stock topped the S&P 500 in 2019, but Tocqueville Asset Management sees even more upside, buying more than a quarter million more shares in aggregate in the fourth quarter. Apple, Microsoft and Amazon are “much less contrarian” now.
The streaming service will give investors their first look at how its subscriber trends fared in a more competitive environment when it reports fourth-quarter earnings after the bell on Tuesday.
(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Emmanuel Macron’s pre-Davos summit for tech executives will hold some goodies for startups.In the third edition of his “Choose France” summit on Monday, timed to catch global CEOs in Paris on their way to the Swiss Alps’ World Economic Forum, the French president will detail measures in his 2020 budget that have improved stock options for startups in France.Macron will also plug a revamped visa regime that will give fast-track papers to tech workers for French or foreign companies and a new benchmark index, the French Tech 120, to promote the nation’s most promising ventures.Snap’s Evan Spiegel, who was given French nationality in 2018, EU digital Commissioner Thierry Breton, Netflix Inc.‘s Reed Hastings, Google’s You Tube CEO Susan Wojcicki, Lime’s Joe Kraus and other leaders from Mexico, Nigeria, Sweden, Turkey and the U.K. will attend the forum in Versailles.Entrepreneurs and executives at some of Europe’s most successful technology startups have been urging local governments to change laws to make employee stock options more attractive, in order to better compete with Silicon Valley. Macron, his Prime Minister Edouard Philippe, Digital Minister Cedric O and 17 ministers will present the government’s latest measures.In November 2018, about 30 chief executives of companies including iZettle AB, Funding Circle Ltd., Supercell Oy, TransferWise Ltd., Blablacar and U.S.-based Stripe Inc., signed an open letter saying a patchwork of different rules in various European countries makes it complicated and costly for employers to dole out stock options.The French 2020 budget law, voted late last year and enacted on Jan. 1, has two major measures already to make stock options of startups more attractive. First the conditions of the so-called BSPCE, an employee shareholding tool equivalent to a stock options, have been sweetened: they will get a discount compared to the price investors paid at the last fund raising.Also, employees of foreign startups with a base in France will be able to get stock options calculated on the parent company’s performance, not just the French branch, minister Cedric O unveiled in a statement late last year, as he said France seeks to attract more tech workers and companies.“What France has done is fantastic, but we really need a pan-European solution,” Martin Mignot, Partner at Index Ventures, which has stakes in BlablaCar, told Bloomberg. “Currently, startups face the same problems every time they expand into a new country. Talk to any entrepreneur and they tell you it’s madness, it is slowing them down and it is putting them at a disadvantage to large companies.”Macron has attempted to lure more investors to France ever since his years as an economy minister in 2014, via taxes, visas, benchmark indexes, bilingual schools and the French way to welcome new comers.In September he created the “Next 40,” a listing of France’s top 40 startups with the strongest growth potential. While only a few of them are currently “unicorns,” with values topping $1 billion, the government said it expect more of them to scale.Read more: Napoleon, Chateaus on Display as France Seeks Venture CapitalOne of the key measures taken by Macron was a 30% flat tax on capital revenues from securities, savings, capital gains, and other sources. That measure got him into trouble with some of his citizens protesting against inequalities in the Yellow Vests movement that started in December 2018.The statistic institute Insee said the increase in inequality in 2018 was linked to a sharp rise in investment incomes, which benefited from the introduction of a flat tax the same year.Still, Macron has also toughened his stance on issues like taxes and privacy. He brought it up with Apple Inc. CEO Tim Cook in his first months as president and repeatedly to Facebook founder Mark Zuckerberg. Macron is currently in a tug of war with U.S. President Donald Trump over his tax on digital giants.Amazon.com Inc., like other tech companies, will make their first payment of France’s new tax on digital giants in a few weeks. The government enacted a 3% levy on large tech groups that is retroactively effective from Jan. 1, 2019.(Updated with comment from Index ventures)\--With assistance from Natalia Drozdiak.To contact the reporter on this story: Helene Fouquet in Paris at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Vidya RootFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
French economy minister Bruno Le Maire said he hoped to resolve a row with the United States over a planned French digital tax by Wednesday evening of this week. "We hope to reach a resolution by Wednesday," Le Maire told LCI television on Monday, adding he would meet U.S. counterparts at the Davos forum this week. France decided in July to apply a 3% levy on revenue from digital services earned in France by firms with revenues of more than 25 million euros ($28 million) in France and 750 million euros worldwide.
Built on top of data collected by SAP analytics cloud and resembling an air-traffic control room, the team’s Executive Huddle service is housed in a suite at Levi’s amid popcorn, drinks, and assorted snacks.
Amazon will lease a more than 1-million-square-foot facility at The Cubes at Bridgeport in Coweta County.
The market says Google parent company Alphabet Inc. is worth $1 trillion, but investors who have tried know that putting a believable valuation on this company is extremely difficult.
After 20 years of slow growth — dictated by halting productivity advances and volatile labor force participation — artificial intelligence (AI) and 5G are about to unleash progress. The sustainable P/E on U.S. equities will likely continue to trend up, because America remains the best place to invest.
The clock is ticking for department stores like Macy’s Inc. and J.C. Penney Co. Inc., according to Sucharita Kodali, retail analyst at Forrester.