Vodafone Found Hidden Backdoors in Huawei Equipment - Bloomberg

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Vodafone Found Hidden Backdoors in Huawei Equipment  Bloomberg

Vodafone Group Plc has acknowledged that it found vulnerabilities going back years with equipment supplied by Huawei Technologies Co. for the carrier's ...

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https://www.bloomberg.com/news/articles/2019-04-30/vodafone-found-hidden-backdoors-in-huawei-equipment-jv3fmbrc

2019-04-30 06:50:00Z
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Wall Street climbs as tame inflation data supports dovish Fed - Yahoo Finance

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid

By Shreyashi Sanyal and Amy Caren Daniel

(Reuters) - U.S. stocks rose on Monday, with the S&P 500 and the Nasdaq hitting record highs, as consumer spending rose in March and benign inflation data underscored the Federal Reserve's accommodative stance on interest rates.

Hopes of a trade resolution, upbeat earnings and a dovish Fed have been powering a rally in the benchmark index this year. The index crossed its record high of 2,940.91 hit on Sept. 21 for the first time this year, restoring investors' faith in the decade-long bull run.

A Commerce Department report showed U.S. consumer spending increased by the most in more than 9-1/2 years in March, but price pressures remained muted, with a key inflation measure posting its smallest annual gain in 14 months.

Tame inflation may lead the central bank to cut interest rates, White House economic adviser Larry Kudlow said in a television interview on Monday.

"We're in a sweet spot where the rates are low and the economy is strong and there is no possibility of rates rising, and that is an environment that markets like," said Paul Brigandi, managing director and head of trading at Direxion in New York.

"The strength of the consumer and the overall economy doing well leads to strength in banks as a strong consumer leads to more lending activity."

Financial companies rose 1.41%, leading gains among the 11 major S&P sectors, while the banking sector gained 2.12%.

The Federal Reserve starts a two-day meeting on Tuesday, at the end of which a decision on interest rates will be announced.

In yet another busy week of earnings, about 160 S&P 500 companies, including Google-parent Alphabet Inc and Apple Inc, are set to report their quarterly results.

Analysts now expect profits of S&P 500 companies to fall just 0.2%, a sharp improvement from a 2% fall estimated at the beginning of the month, according to Refinitiv data.

As trade talks enter their last leg, U.S. negotiators head to China on Tuesday to try to hammer out details to end the protracted tariff spat between the two countries.

At 13:04 p.m. ET the Dow Jones Industrial Average was up 34.32 points, or 0.13%, at 26,577.65. The S&P 500 was up 7.45 points, or 0.25%, at 2,947.33 and the Nasdaq Composite was up 21.29 points, or 0.26%, at 8,167.69.

The defensive utilities and real estate, led the declines among the seven major S&P sectors trading in the red.

Among stocks, Ingersoll-Rand jumped 5.93%, the most among S&P companies, after the Wall Street Journal reported Gardner Denver Holdings Inc is nearing a deal to acquire a unit of the air conditioner maker.

Advancing issues outnumbered decliners by a 2.01-to-1 ratio on the NYSE and by a 1.83-to-1 ratio on the Nasdaq.

The S&P index recorded 36 new 52-week highs and no new low, while the Nasdaq recorded 69 new highs and 19 new lows.

(Reporting by Shreyashi Sanyal and Amy Caren Daniel in Bengaluru; Editing by Anil D'Silva and Arun Koyyur)

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https://finance.yahoo.com/news/p-500-hits-record-high-133957051.html

2019-04-29 17:36:00Z
52780280536278

Wall St. gains as soft inflation data supports accommodative Fed - Investing.com

© Reuters. Traders work on the floor at the NYSE in New York

By Shreyashi Sanyal and Amy Caren Daniel

(Reuters) - U.S. stocks rose on Monday, with the and the Nasdaq hitting record highs, as consumer spending rose in March and benign inflation data underscored the Federal Reserve's accommodative stance on interest rates.

Hopes of a trade resolution, upbeat earnings and a dovish Fed have been powering a rally in the benchmark index this year. The index crossed its record high of 2,940.91 hit on Sept. 21 for the first time this year, restoring investors' faith in the decade-long bull run.

A Commerce Department report showed U.S. consumer spending increased by the most in more than 9-1/2 years in March, but price pressures remained muted, with a key inflation measure posting its smallest annual gain in 14 months.

Tame inflation may lead the central bank to cut interest rates, White House economic adviser Larry Kudlow said in a television interview on Monday.

"We're in a sweet spot where the rates are low and the economy is strong and there is no possibility of rates rising, and that is an environment that markets like," said Paul Brigandi, managing director and head of trading at Direxion in New York.

"The strength of the consumer and the overall economy doing well leads to strength in banks as a strong consumer leads to more lending activity."

Financial companies rose 1.41%, leading gains among the 11 major S&P sectors, while the banking sector gained 2.12%.

The Federal Reserve starts a two-day meeting on Tuesday, at the end of which a decision on interest rates will be announced.

In yet another busy week of earnings, about 160 S&P 500 companies, including Google-parent Alphabet (NASDAQ:) Inc and Apple Inc (NASDAQ:), are set to report their quarterly results.

Analysts now expect profits of S&P 500 companies to fall just 0.2%, a sharp improvement from a 2% fall estimated at the beginning of the month, according to Refinitiv data.

As trade talks enter their last leg, U.S. negotiators head to China on Tuesday to try to hammer out details to end the protracted tariff spat between the two countries.

At 13:04 p.m. ET the was up 34.32 points, or 0.13%, at 26,577.65. The S&P 500 was up 7.45 points, or 0.25%, at 2,947.33 and the was up 21.29 points, or 0.26%, at 8,167.69.

The defensive utilities and real estate, led the declines among the seven major S&P sectors trading in the red.

Among stocks, Ingersoll-Rand jumped 5.93%, the most among S&P companies, after the Wall Street Journal reported Gardner Denver Holdings Inc is nearing a deal to acquire a unit of the air conditioner maker.

Advancing issues outnumbered decliners by a 2.01-to-1 ratio on the NYSE and by a 1.83-to-1 ratio on the Nasdaq.

The S&P index recorded 36 new 52-week highs and no new low, while the Nasdaq recorded 69 new highs and 19 new lows.

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https://www.investing.com/news/stock-market-news/stock-futures-edge-lower-ahead-of-inflation-data-1849226

2019-04-29 16:26:00Z
52780280536278

Burger King plans to roll out Impossible Whopper across the United States - CNN

On April 1, Burger King started testing the vegetarian burger, using a plant-based patty from Impossible Foods. The test took place in St. Louis and "went exceedingly well," a spokesperson for Restaurant Brands International (QSR), Burger King's parent company, said. The spokesperson added that the sales of the Impossible Whopper are complementary to the regular Whopper.

That's exactly what Burger King wants.

With the Impossible Whopper, Burger King is primarily targeting meat eaters who seek more balance in their diet. The new product is designed to "give somebody who wants to eat a burger every day, but doesn't necessarily want to eat beef everyday, permission to come into the restaurants more frequently," Chris Finazzo, president of Burger King North America, told CNN Business when discussing the initial test.

The Impossible Whopper is supposed to taste just like Burger King's regular Whopper. Unlike veggie burgers, Impossible burger patties are designed to mimic the look and texture of meat when cooked. The plant protein startup recently revealed a new recipe, designed to look and taste even more like meat. That version is being used in Burger King's Impossible Whoppers.

The company plans to expand to more markets "in the very near future" before making the sandwich available nationally by the end of the year. Burger King had about 7,300 US locations at the close of last year.

There's public interest in plant-based protein because of concerns about animal welfare and the environmental impact of factory farming, and because some consumers are interested in reducing their consumption of meat for health reasons.

And the interest appears to be growing. The global market for meat substitutes is forecast to grow from an estimated $4.6 billion in 2018 to $6.4 billion by 2023, according to research firm MarketsandMarkets.

Beyond Meat, Impossible Food's primary competitor, thinks that the potential is bigger. In an SEC filing detailing plans for the 10-year-old company's IPO, Beyond Meat projected that over time the plant based-meat market could reach $35 billion in the United States. Beyond Meat plans to start trading in early May.

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https://www.cnn.com/2019/04/29/business/burger-king-impossible-rollout/index.html

2019-04-29 15:33:00Z
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Anadarko enters merger talks with Occidental, putting Chevron deal in jeopardy - CNN

Anadarko (APC) announced on Monday it plans to enter merger talks with Occidental Petroleum (OXY), which made a hostile takeover offer for the oil driller last week.

The Occidental cash-and-stock bid values Anadarko at nearly $57 billion. That's about 20% more than the takeover deal Anadarko already reached with oil giant Chevron (CVX) earlier this month.

The bidding war for Anadarko reflects an intense desire by oil companies large and small to acquire America's best shale assets. Specifically, oil companies are racing to drill oil in the Permian Basin, the West Texas shale oilfield that has made the United States the world's leading producer.

Anadarko and Occidental had been in merger talks even before Chevron reached a takeover deal for Anadarko.

Now, Anadarko said it will resume negotiations with Occidental, which is already the No. 1 oil producer in the Permian Basin. Acquiring Anadarko's Permian assets would lift Occidental's output in that shale oilfield to 533,000 barrels per day.

Even though neither Anadarko nor Occidental are household names, a merger would create an oil behemoth. The combined company would be worth about $100 billion and produce about 1.4 million barrels of oil per day.

After reviewing the Occidental bid with lawyers and bankers, Anadarko's board of directors said it has unanimously determined it could reasonably be expected to result in a "superior proposal."

In a statement, Anadarko's board said the Occidental bid reflects "significant improvement" in terms of value, terms, conditions and closing certainty over Occidental's previous proposals.

Last week, Occidental offered to purchase each Anadarko share for $38 in cash and 0.6094 of a share of Occidental's stock.

Chevron's deal is more skewed toward stock. Chevron offered to pay $16.25 in cash and 0.3869 of a share of its stock for each Anadarko share.

In a statement, Chevron expressed confidence its deal will prevail.

"We believe our signed agreement with Anadarko provides the best value and the most certainty to Anadarko's shareholders," Chevron said on Monday.

Anadarko cautioned that there "can be no assurance" that talks with Occidental will result in a better deal than the one already reached with Chevron.

Despite the new negotiations with Occidental, Anadarko said the Chevron merger agreement remains in effect. The Anadarko board reaffirmed its recommendation in favor of the Chevron deal "at this time."

Wall Street analysts have expressed concern that Occidental's deal could strain the company's balance sheet. Acknowledging that challenge, Occidental CEO Vicki Hollub told analysts last week that the company would "rapidly deleverage" by selling off between $10 billion and $15 billion of assets over two years.

As America's No. 2 oil company, Chevron certainly has the firepower to sweeten its bid. But Chevron must also guard against overpaying for Anadarko and its energy portfolio.

Beyond its Permian Basin position, Anadarko is attractive because of its shale assets in Colorado, deepwater drilling properties in the Gulf of Mexico and liquefied natural gas project in Mozambique.

Last week, Chevron executives suggested Anadarko would be a better fit with their company. Chevron pointed to its track record for making successful acquisitions and role as a top-notch LNG producer.

If Anadarko goes with Occidental, Chevron won't be left empty-handed. Under the terms of their merger agreement, Anadarko would owe Chevron a break-up fee of $1 billion if it reaches a takeover deal with another company.

Shares of Occidental fell about 2% on Monday, while Chevron and Anadarko were little changed.

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https://www.cnn.com/2019/04/29/investing/anadarko-merger-occidental-chevron/index.html

2019-04-29 14:09:00Z
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Burger King plans to roll out Impossible Whopper across the United States - WJW FOX 8 News Cleveland

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Burger King plans to roll out Impossible Whopper across the United States  WJW FOX 8 News Cleveland

Burger King's test of a vegetarian version of its signature Whopper was such a success, the chain is planning to roll the Impossible Whopper out nationally this ...

View full coverage on Google News
https://fox8.com/2019/04/29/burger-king-plans-to-roll-out-impossible-whopper-across-the-united-states/

2019-04-29 13:25:00Z
CAIiENBr31JEWp7CtnvlF5yQnFcqGQgEKhAIACoHCAow0Yj_CjDpgvgCMOO15AU

Burger King plans to roll out Impossible Whopper across the United States - CNN

On April 1, Burger King started testing the vegetarian burger, using a plant-based patty from Impossible Foods. The test took place in St. Louis and "went exceedingly well," a spokesperson for Restaurant Brands International (QSR), Burger King's parent company, said. The spokesperson added that the sales of the Impossible Whopper are complementary to the regular Whopper.

That's exactly what Burger King wants.

With the Impossible Whopper, Burger King is primarily targeting meat eaters who seek more balance in their diet. The new product is designed to "give somebody who wants to eat a burger every day, but doesn't necessarily want to eat beef everyday, permission to come into the restaurants more frequently," Chris Finazzo, president of Burger King North America, told CNN Business when discussing the initial test.

The Impossible Whopper is supposed to taste just like Burger King's regular Whopper. Unlike veggie burgers, Impossible burger patties are designed to mimic the look and texture of meat when cooked. The plant protein startup recently revealed a new recipe, designed to look and taste even more like meat. That version is being used in Burger King's Impossible Whoppers.

The company plans to expand to more markets "in the very near future" before making the sandwich available nationally by the end of the year. Burger King had about 7,300 US locations at the close of last year.

There's public interest in plant-based protein because of concerns about animal welfare and the environmental impact of factory farming, and because some consumers are interested in reducing their consumption of meat for health reasons.

And the interest appears to be growing. The global market for meat substitutes is forecast to grow from an estimated $4.6 billion in 2018 to $6.4 billion by 2023, according to research firm MarketsandMarkets.

Beyond Meat, Impossible Food's primary competitor, thinks that the potential is bigger. In an SEC filing detailing plans for the 10-year-old company's IPO, Beyond Meat projected that over time the plant based-meat market could reach $35 billion in the United States. Beyond Meat plans to start trading in early May.

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https://www.cnn.com/2019/04/29/business/burger-king-impossible-rollout/index.html

2019-04-29 11:18:00Z
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