Jumat, 07 Juni 2019

U.S. Jobs Rise 75,000, Missing Forecasts as Wage Gains Cool - Bloomberg

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  1. U.S. Jobs Rise 75,000, Missing Forecasts as Wage Gains Cool  Bloomberg
  2. Jobs creation slows dramatically with payrolls up just 75,000 in May, much worse than expected  CNBC
  3. What to expect in the May jobs report  Yahoo Finance
  4. Trump's wild ride has Powell scrambling to keep economy on track | TheHill  The Hill
  5. The fate of Trump’s economy now hinges on the Federal Reserve, the agency the president called ‘crazy’  The Washington Post
  6. View full coverage on Google News

https://www.bloomberg.com/news/articles/2019-06-07/u-s-payrolls-rise-75-000-missing-forecasts-as-wage-gains-cool

2019-06-07 12:30:00Z
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Elliott Management to acquire Barnes & Noble for $683 million - CNBC

Barnes & Noble

Michael Nagle | Bloomberg | Getty Images

Activist firm Elliott Management announced Friday it plans to acquire bookseller Barnes & Noble for roughly $683 million, including debt.

The deal values Barnes & Noble at $6.50 a share, a 43% premium to the retailer's 10-day volume weighted average closing share price before news of an imminent deal leaked Thursday.

After the announcement, the stock was up 10% to $6.56 per share, in premarket trading.

Barnes & Noble has faced continued pressure from Amazon and independent booksellers. Its shares had fallen roughly 25% year to date before the news leak. Within the past five years, Barnes & Noble has lost more than $1 billion in market value.

Amazon holds nearly half of new book sales, a report by audience research Codex Group said last year, while Walmart has about 4.2 percent of the market

In search of a turnaround, Barnes & Noble said last year it was exploring a sale after having received "expressions of interest" from "multiple parties," including its chairman, Leonard Riggio, who founded the company in 1965.

Riggio has entered into a voting agreement in support of the transaction, the company said Friday.

As a private company, Barnes & Noble will likely be more free to make the changes and investment that can be unwieldy under a public spotlight. Part of the bookseller's turnaround plan has included closing some of its more than 600 stores across the U.S. and relocating to smaller spaces that receive a fresh and modern look. The company has said its prototype stores encourage shoppers to buy books online or from a tablet.

The retailer has shown small signs of upturn. In March, it reported that over the holidays, sales at locations open for at least a year during the quarter rose 1.1 percent — its best quarterly performance in three years. As of January, it had $15 million in cash and cash equivalents.

For its part, Elliott, the firm founded and led by billionaire Paul Singer, acquired Britain's biggest bookseller, Waterstones, last year. Owning the two book retailing giants could give Elliott synergies and buying leverage with publishers, people familiar with the industry say.

Elliott will operate the two retailers independently, the company said on Friday, though Waterstones CEO James Daunt will oversee both retailers as chief executive.

The deal, which will be structured as a merger, is expected to close in the third quarter, the company said. Elliott and Barnes & Noble expect to amend the agreement to utilize a tender offer structure, thereby likely reducing closing time by several weeks.

Barnes & Noble also will pay out a quarterly cash dividend of 15 cents per share, payable on Aug. 2.

CNBC's Lauren Thomas contributed to this report

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https://www.cnbc.com/2019/06/07/elliott-management-to-acquire-barnes-noble-for-683-million.html

2019-06-07 11:48:28Z
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Elliott Management to acquire Barnes & Noble for $683 million - CNBC

Barnes & Noble

Michael Nagle | Bloomberg | Getty Images

Activist firm Elliott Management announced Friday it plans to acquire bookseller Barnes & Noble for roughly $683 million, including debt.

The deal values Barnes & Noble at $6.50 a share, a 43% premium to the retailer's 10-day volume weighted average closing share price before news of an imminent deal leaked Thursday.

After the announcement, the stock was up 10% to $6.56 per share, in premarket trading.

Barnes & Noble has faced continued pressure from Amazon and independent booksellers. Its shares had fallen roughly 25% year to date before the news leak. Within the past five years, Barnes & Noble has lost more than $1 billion in market value.

Amazon holds nearly half of new book sales, a report by audience research Codex Group said last year, while Walmart has about 4.2 percent of the market

In search of a turnaround, Barnes & Noble said last year it was exploring a sale after having received "expressions of interest" from "multiple parties," including its chairman, Leonard Riggio, who founded the company in 1965.

Riggio has entered into a voting agreement in support of the transaction, the company said Friday.

As a private company, Barnes & Noble will likely be more free to make the changes and investment that can be unwieldy under a public spotlight. Part of the bookseller's turnaround plan has included closing some of its more than 600 stores across the U.S. and relocating to smaller spaces that receive a fresh and modern look. The company has said its prototype stores encourage shoppers to buy books online or from a tablet.

The retailer has shown small signs of upturn. In March, it reported that over the holidays, sales at locations open for at least a year during the quarter rose 1.1 percent — its best quarterly performance in three years. As of January, it had $15 million in cash and cash equivalents.

For its part, Elliott, the firm founded and led by billionaire Paul Singer, acquired Britain's biggest bookseller, Waterstones, last year. Owning the two book retailing giants could give Elliott synergies and buying leverage with publishers, people familiar with the industry say.

Elliott will operate the two retailers independently, the company said on Friday, though Waterstones CEO James Daunt will oversee both retailers as chief executive.

The deal, which will be structured as a merger, is expected to close in the third quarter, the company said. Elliott and Barnes & Noble expect to amend the agreement to utilize a tender offer structure, thereby likely reducing closing time by several weeks.

Barnes & Noble also will pay out a quarterly cash dividend of 15 cents per share, payable on Aug. 2.

CNBC's Lauren Thomas contributed to this report

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https://www.cnbc.com/2019/06/07/elliott-management-to-acquire-barnes-noble-for-683-million.html

2019-06-07 11:21:58Z
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National Doughnut Day's best deals - Fox News

National Doughnut Day is here – and with it has comes some deals too sweet to pass up.

So, whether you’re a regular Homer Simpson type and can’t get enough of the sugary treat, or you’re more of an in moderation consumer – here are all the places offering up the best bargains for the day.

Dunkin’

America’s gotta run on more than just coffee. So all day on June 7, visitors can get a free Dunkin’ doughnut with the purchase of any beverage at the chain, while supplies last.

Krispy Kreme

For those who want a doughnut – hold the coffee – the nationwide chain known for its fluffy baked goods is offering just that. Stop by any Krispy Kreme and choose your favorite doughnut for free. Pink sprinkles? Chocolate glazed? Original? They’re all up for grabs, no purchase necessary – but only one per person.

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Walmart

While you’re picking up some groceries, make sure to swing by the bakery and grab a little sweet treat for yourself. In honor of the decadent day, Walmart is giving away 1.2 million doughnuts at 4,000 stores across the nation. Limit one per customer at participating locations.

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Salvation Army

The organization that started it all -- Salvation Army established the first National Doughnut Day in 1938 in Chicago -- is pairing up with favorite baked good brand, Entenmanns, to deliver sweets throughout the day. According to its website, the charity organization will be handing out the packaged doughnuts at select areas around the country. However, there is a catch – most of the free doughnut events are for veterans.

Hardee’s

Though not traditionally associated with doughnuts, the hamburger chain is getting in on the special food holiday by offering up its unique Fruit Loop Mini Donuts for free with any purchase. Unlike the other chains, Hardee’s is offering its free doughnuts through Sunday. So if you are full of doughnuts on Friday, you've still got the weekend to take advantage of the deal. Though you do have to present this coupon, and it is only available at participating locations.

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https://www.foxnews.com/food-drink/national-doughnut-days-best-deals

2019-06-07 09:01:18Z
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Report: Google arguing to U.S. that forked Huawei OS is security threat - 9to5Google

While tech companies have complied with the Commerce Department’s ban on Huawei, many are in discussion with U.S. officials on a possible resolution. A report today reveals that Google’s argument is centered around Huawei’s forked OS possibly being the bigger security threat.

The reputable Financial Times has just published a report detailing Google’s push for another extension to update existing Huawei phones in the market, or preferably an exemption to continue working with the Chinese company and release new devices.

According to sources, Google senior executives are making the case that the lack of updates after the August exemption would force Huawei to use an alternative operating system. Of course, Google and other tech companies, especially chip vendors, are concerned about the business impact of losing Huawei and ultimately the broader Chinese market.

Notably, this FT report described the immediate replacement OS as a “Huawei-modified version of Android” instead of being built from the ground up — a long-term project by the Chinese company known as Project Z.

Google is arguing to the U.S. government that the forked Huawei OS would have more bugs and be “more at risk of being hacked, not least by China.” Compared to the “genuine version,” the hybrid would lack Google’s Play Protect and Play Services, while a rush to market could result in vulnerabilities emerging.

Huawei confirmed last month that its Android alternative could launch in late 2019 or early 2020 for the Chinese market. Meanwhile, other reports suggest that the Play Store could be replaced with an in-house “App Gallery” amid talks with Aptoide.

More about Huawei:


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https://9to5google.com/2019/06/07/forked-huawei-os-security/

2019-06-07 07:22:00Z
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Google is reportedly arguing that cutting Huawei off from Android threatens US security - The Verge

According to a new report by the Financial Times, Google is trying to make the case to the Trump administration that it needs to be able to provide technology to Huawei in the name of US national security. According to one FT source, the central point of the argument is that Huawei would be forced to fork Android into a “hybrid” version that would be “more at risk of being hacked, not least by China.”

Google, like all US companies, has been banned from having business dealings with Huawei. In the long term, that would mean that Google would not be able to provide any of its services on Huawei phones. In the short term, the company has secured a temporary license to continue to supply software updates to existing phones.

Because Huawei phones are already banned in the US, understanding how Google is making that case that a forked version of Android being sold elsewhere in the world is a serious threat to US national security might seem like a bit of a jump. Although the Financial Times’ sources don’t explicitly lay out Google’s argument, it’s not difficult to imagine how it would go.

Step one: Huawei forks Android, creating a version that no longer includes Google’s services. One of the most important features of those services is Google Play Protect, software that automatically scans for malware, viruses, and security threats. Another is that people who buy phones with Google Services generally stick to apps available in the Google Play Store, which are more rigorously checked for security than what you’ll find on other stores.

Step two: those Huawei phones with a forked version of Android are sold globally. They are less secure and get hacked.

Step three: somebody in the US unknowingly sends sensitive information to somebody who is using one of those hacked Huawei phones. No matter how secure end-to-end encryption is, if there’s malware directly on a phone there’s a risk it could see information sent to it. And many people don’t check to see what phones they’re sending information to.

Step four: US national security it compromised.

Whether or not Google can convincingly make that argument could mean the difference between a fast resolution to this ongoing dispute or something much more complicated. Huawei is by some measures the number one or number two top seller of phones worldwide, and if it suddenly rushed into creating its own OS, things would get messy very quickly.

Huawei has said that it could roll out a custom operating system “very quickly,” though whether it would be based on the version of Android (sans Google services) it currently uses in China or on something else is not very clear — just like everything else in this complicated situation.

Even if you discount Google’s reported argument about security, there’s no question that it and other US companies stand to lose a significant amount of money if they can no longer do business with a company as large as Huawei. Just as it’s difficult to separate the Trump administration’s security concerns from its trade war, it’s equally difficult to separate Google’s reported security motivations from the potential effect on its bottom line.

As Bloomberg notes, Huawei itself has said that it “has not negotiated directly with the US government and is waiting to see how Google talks evolve.” That means Google’s reported talks with the US government are the center of the action right now.

That action is likely to intensify over the summer: Google’s temporary license to supply Huawei phones with updates is set to expire on August 19th.

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https://www.theverge.com/2019/6/7/18656163/google-huawei-android-security-ban-claims

2019-06-07 06:04:23Z
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Kamis, 06 Juni 2019

FCC Encourages Companies To Block Robocalls By Default - NPR

The Federal Communications Commission is pushing phone companies to implement robocall blocking services by default. John Raoux/AP hide caption

toggle caption
John Raoux/AP

Your phone company may start blocking robocalls without your needing to ask for it.

On Thursday, the Federal Communications Commission passed a ruling that allows and encourages phone companies to block robocalls by default.

"We think these actions will help consumers in the near term and the long term to get the peace and the quiet that they deserve," said FCC Chairman Ajit Pai.

At the moment many phone companies offer services that block robocalls, but consumers have to specifically ask and often pay for it. The ruling requires companies to inform consumers of the change and give them an option to opt out of having their calls blocked.

Robocalls are a rising nuisance in the U.S., and many of them are illegal scams. The call-blocking company YouMail estimates that there were some 4.7 billion robocalls placed in the U.S. in May alone.

The FCC has long encouraged phone companies to take firmer action on robocalls, and Pai describes stemming scam robocalls as his "top consumer protection priority."

But historically, phone companies have appeared reluctant to take sweeping action against them — in part, because it's not always easy to determine which calls consumers would actually want blocked. For example, some people would want an automatic call reminding them to pay an overdue bill, while others might find that call irritating.

While the FCC now says that the companies are specifically allowed to block robocalls by default, it's still a question as to whether they will be sheltered from legal liability if they block a call that the consumer wants or needs. The FCC has proposed offering a legal "safe harbor" if the companies are using an authentication framework encouraged by the commission that can verify whether a call is actually coming from where a caller ID says it is. That part of the FCC's proposal is heading to the public for comment before it can become official.

"I think safe harbor is extremely important to the carriers because they don't want the liability for something going wrong because they blocked a call that matters," Alex Quilici, a robocall expert and the CEO of YouMail, tells NPR.

The ruling appears to leave the determination of which calls to block up to the companies, saying that must be "based on reasonable call analytics."

Quilici expects companies to proceed cautiously with implementing new services. "My prediction is that carriers roll things out slowly," he says, and they are likely to focus on the calls that are clearly illegal. "I think it's going to be a much bigger challenge for carriers to get comfortable at blocking a lot more robocalls by default."

USTelecom, a trade group that represents telecommunications providers, called the FCC's ruling an "important step."

It acknowledged there is more work to be done but stressed that "greater flexibility for carriers is a win for consumers."

The ruling also opens the door for companies to offer an even more restrictive option for consumers: The FCC says providers can offer consumers the option of only allowing calls from numbers that are on their contact lists.

It's worth noting that the ruling does not mandate that companies provide the default call-blocking service at no charge, though it does say that it "would expect most if not all" providers to do so.

That was a disappointment to FCC Commissioner Jessica Rosenworcel, a Democrat. She voted for the ruling but dissented on the part about cost: "I do not think that this agency should pat itself on the back for its efforts to reduce robocalls and then tell consumers to pay up."

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https://www.npr.org/2019/06/06/730415950/heres-why-you-may-start-receiving-fewer-robocalls

2019-06-06 21:52:00Z
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