Apple and Cisco Team Up For Cyber Security Discount

shutterstock_210714196

Apple Inc. is working with Cisco Systems Inc. to help businesses that primarily use gear from both companies to get a discount on cyber-security insurance premiums.

Apple CEO Tim Cook gave a surprise guest appearance at a Cisco event in Las Vegas on Monday where he announced a partnership between the two companies to offer discounted cyber-security insurance.

Cook said the combination of gear from the two companies was more secure than the use of competing technology, such as the Android mobile operating system made by Alphabet Inc’s Google.

“The thinking we share here is that if your enterprise or company is using Cisco and Apple, the combination of these should make that (cyber-security) insurance cost significantly less,” Cook said. “This is something we’re going to spend some energy on. You should reap that benefit.”

The news comes one week after Cisco CEO Chuck Robbins announced what he called “the next era” for the company by the release of its a new AI-powered network.

Cisco gave few details about the effort, saying in a company blog post the two companies were “collaborating with insurance industry heavyweights … to offer more robust policies to our customers.”

The company also said it will create systems that allow for continuous security monitoring and for insurers to ensure that the systems are set up as planned.

Cisco, a networking company that has gradually moved into cyber security in recent years, highlighted several other joint efforts with Apple. It rolled out a new security app for iPhones aimed to protect against so-called phishing attacks, an email with a malicious link sent under the guise of being legitimate.

While Apple has been long known for its consumer devices, the tech giant has embraced business users in recent years, adding additional security features to its iPhones and iPads. In 2015, Cook said Apple was generating at least $25 billion a year in revenue selling to businesses.

Apple has also undertaken joint efforts with enterprise software firms IBM and SAP to encourage developers to write business apps for its mobile devices.

Want to become an investor/trader in the stock market? Fill yourself in on marketing news by subscribing to Trade12. We encourage traders to know more about the latest information about forex, stock markets, commodities, and economies.

Can’t handle your funds properly? Exo Capital Markets will help you manage your funds. Exo Capital Markets strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry.

Advertisements

European Stocks Mixed in Cautious Trading

shutterstock_548860252

European stocks were mixed in cautious trade on Wednesday amid a rare credit downgrade for China and the rising security condition in United Kingdom, wherein Prime Minister Theresa May raised the level of terrorist threat to “critical” last night and warned that a new attack is possibly imminent, keeping investors in a caution mood as markets were still recovering from the Manchester bombing.

The region-wide Stoxx Europe 600 index held onto a modest 0.14% gain to 392.59 while the Euro Stoxx 50 fell 0.19% to 3590.50. But regional benchmarks, including France’s CAC 40 and Germany’s DAX 30 performance index both edged down modestly, 0.11% to 5,342.35 and 0.2% to 12,633.25 respectively.

Financial stocks were mixed as well,  as BNP Paribas surged 0.66% to 66.62, and Societe Generale added up 0.54% to 50.27, while Commerzbank slipped 0.16% to 9.605, as well as Deutsche Bank at 0.82% to 16.980.

Among peripheral lenders, Italy’s Intesa Sanpaolo dropped 0.82% to 2.670. Unicredit, however, edged back up 0.18% to 16.9000. Spanish banks BBVA slipped 0.28% to 7.458, while Banco Santander surged 0.24% to 5.851.

Elsewhere, Daimler AG NA O.N. saw decline in shares 2.5% to 65.510 after German prosecutors said they would look for 11 offices and sites of the company as part of an investigation into possible diesel emissions fraud.

On the downside, Nokia slipped back 1.53% to 5.785 after jumping 1.01% following its agreement with Apple in regards to a number of the Finnish company’s patents, with many pertaining to healthcare and fitness products.

 

In London, FTSE 100 went up 0.35% to 7,511.75, weighed by Kingfisher, whose shares plummeted 6.68% after the company reported a first-quarter decline in sales due to a slowdown in its French market.

Babcock International Group PLC rallied back, as shares were barely up 0.05% to 968.00, as the infrastructure company reported a 9.7% climb in pre-tax profit to £362.1 million for the financial year ended March 31.

Marks and Spencer Group PLC was also on the positive side, with shares going up 2% to 394.60, even after the retailer announced a 64% decline in annual profit.

Mining stocks were mostly lower on the commodity-heavy index. Shares in Glencore retreated 1.35% and Randgold resources tumbled 0.76% to 7190.00, while Fresnillo and Rio Tinto plummeted 0.63% and 0.89% respectively.

In the financial sector, stocks were broadly higher as HSBC Holdings edged up 0.43% to 669.80 and Lloyds Banking rose 1.23% to 73.05, while the Royal Bank of Scotland climbed 1.74% to 269.30, as well as Barclays with shares went back up 0.61% to 215.59.

Want to become an investor/trader in the stock market? Fill yourself in on marketing news by subscribing to Trade12. We encourage traders to know more about the latest information about forex, stock markets, commodities, and economies.

Can’t handle your funds properly? Exo Capital Markets will help you manage your funds. Exo Capital Markets strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry.

Oil Prices Rise after Saudi & Russia’s OPEC Agreement

shutterstock_625957967

Oil prices surges on Monday following Saudi Arabian and Russian energy ministers’ decision of extending the Organization of the Petroleum Exporting Countries’ (OPEC) output deal for an additional nine months.

Global benchmark Brent crude futures lifted 3.1 percent to $52 a barrel the highest level in two weeks while US marker crude West Texas Intermediate (WTI) edged up 3.2 percent to $49.

The gains will present some relief subsequent to what has been a dull few weeks for a lot of commodities in the course of US President Donald Trump’s effort to get his infrastructure plan started and tightening credit in China.

Energy ministers Khalid Al-Falih (Saudi) and Alexander Novak (Russia) met on Monday in Beijing and talked about the oil output policy.

Russia is the world’s largest oil manufacturer while Saudi Arabia is the major exporter.

Both ministers said in a shared statement that they have agreed that supply cuts needs to carry on to 2018, an act towards keeping the OPEC-led deal so as to hold up prices in place longer than the initially decided optional six-month extension.

The Saudi Arabian minister also said that there has been a noticeable drop to the inventories but they are not where they want to be in meeting the five-year average.

For this reason, they have come to the decision that the deal has to be extended.

The ministers suggested that next round of cuts should be on the same conditions like the previous agreement where OPEC, Russia and other producers settled to cut production by 1.8 million barrels per day in the first half of 2017 with a possible six-month extension.

Khalid-Al-Falih told the reports that OPEC countries and non-OPEC countries taking part in the agreement on cutting oil outputs has accomplished a complete consent on extending the contract.

He added that he thinks that the verdicts will be positive in Vienna and that they bring together a full agreement of the group.

Based on the joint statement of Saudi Arabia and Russia, they have agreed to discuss with the countries-parties in the deal and other producers ahead of May 24 so as to achieve a complete consent on the nine- month extension of the declaration on cooperation.

Both countries are planning to suggest the nine-month extension at the meeting which will take place on May 25.

Get round the clock information about forex, stock markets, commodities, and economies subscribe now at Trade12. Check out Trade12 reviews and learn more about the latest market news

Know more about managing your funds accordingly visit Exo Capital Markets. Exo Capital Markets strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry.

Banks Major Relocation Plan Due to Brexit

shutterstock_529137427

Brexit is still two years away but the mass departure of finance-related jobs has been set into motion as largest global banks in London are planning to move jobs to the continent already in the next two years.

According to separate reports by Oliver Wyman and Ernst & Young, possible estimates for finance job losses due to Brexit are on wide scale from 4,000 to 232,000.

Banks are moving with caution, performing two-stage contingency plans in order to prevent losing worried London-based personnel while they work out how many jobs will have to move in the end.

This would imply that the figures could likely go up further depending on what agreement will eventually be made between the European Union (EU) and Britain.

The first part involves small numbers to make sure the necessary licenses, technology and infrastructure are in position, while the next will rely on the longer term plan of a bank’s European business.

The Bank of England has given finance corporations until July 14 to get started on their plans.

JPMorgan stated it plans last week to move between 500 to 1,000 jobs to three European cities specifically Dublin, Frankfurt and Luxembourg in the next two years which was still notably smaller than the 4,000 figure the bank’s chief executive officer Jamie Daimon first estimated before the French presidential election.

Standard Chartered which regularly conducts business in Asia followed suit with plans to strengthen its subsidiary in Frankfurt in preparation for Brexit.

The bank’s chairman Jose Vinals said that the Brexit would not oblige the Asia-orientated bank to change its UK quarters explaining that adapting its Frankfurt division into a subsidiary, which would be questioned to stricter directive, would only involve a small number of London-based staffs. It currently has about 90 employees in Frankfurt.

Frankfurt and Dublin are on the rise as the major victors from the relocation plans since six of the 13 banks chose to open a new office or moving the greater part of their business to Frankfurt while three of the banks will look to expand in Dublin.

The Deutsche Bank said on April 26 that up to 4,000 United Kindom-based jobs could be moved to Frankfurt and other locations in the EU as a result of Brexit. This was the biggest move of any bank.

Chief executive of HSBC Stuart Gulliver has said this week that the bank’s earlier estimate of about 1,000 employees would be relocated to Paris following Britain’s decision to withdraw from the EU.

Plans of large banks including Credit Suisse and Bank of America and several smaller banks are still unknown.

Thirteen of the biggest banks worldwide including Goldman Sachs, UBS and Citigroup have provided a plan on the subject of how they would build up their operations in Europe to secure market entry to the EU’s sole market once Britain separates from the union.

Discussions with financial officials in Europe have been ongoing for more than a few months nevertheless banks are completing plans to relocate staff and operations.

Even if the transfers would correspond to about 2 percent of London’s finance-related jobs, Britains tax revenues could be affected if it loses wealthy taxpayers working in financial services.

According to a think tank on budget matters, what is left of the population will have to pay more if top earners move.

Subscribe now at Trade12 and learn more about the latest market news. Check out Trade12 reviews to know more about round the clock information about forex, stock markets, commodities, and economies.

Visit Exo Capital Markets to know more about managing your funds accordingly.  Exo Capital Markets strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry.

Oil Prices Recover after Earlier Decline

oilrig51.jpg

Oil prices has rebounded on Friday after falling earlier which  caused distress in markets resulting in traders and investors to seek refuge in safe-haven bonds, triggering the yen and gold to haul up a record-breaking high for the world stock market.

As of 14:07 GMT, gold futures for the June contract is currently 0.02 percent down to $1,228 while spot exchange rate for Japanese yen fell 0.01 percent against the US dollar to $0.008883.

Traders had to seek out for shelter overnight as US crude oil WTI futures for June delivery fell 0.3 percent to $45.38 a barrel as of 13:28 GMT, off the six-month low of $43.77 target but it is still under constant worry  in the course of continuous global supply glut concerns.

Crude has recovered from its previous decline gaining 0.5 percent to $45 a barrel.

Brent oil futures for the July contract was up 0.8 percent to $48 a barrel after hitting a six-month low of $46.65 the previous session.

Hong Kong’s PetroChina and CNNOOC also closed their session with a 2 percent loss to HK$5.26 and 0.7 percent low to HK$8.85 respectively.

Oil was not the only commodity to encounter declines this week. Chinese iron ore edged down almost 7 percent in Shanghai overnight after falling 8 percent on Thursday.

Mining giant Rio Tinto (RIO) closed 2 percent down to AU$57.150 hitting a six-month low, while Glencore PLC (GLEN) is up almost 2 percent to £282.70 and copper miner Antofagasta rose 1 percent to £760 on Friday.

Some of the world’s most sensitive commodity currencies went downside with the Australian dollar losing 0.1 percent to $0.7399 the same goes for the Russian ruble also 0.1 percent low to $0.01711. The Canadian dollar broke the trend gaining 0.1 percent to $0.7284.

Crude prices has been under pressure after the US Energy Information Administration said in its weekly report that crude oil inventories fell by 930,000 barrels in the week ended April 28 which was a much smaller take than expected.

Back in November last year, the Organization of the Petroleum Exporting Countries or OPEC together with other manufacturers including Russia came to an agreement to cut production by about 1.8 million barrels per day between January and June yet the output cut has had little effect on inventory levels.

A final decision on whether or not to extend the agreement beyond June will be discussed by the oil union on May 25.

Other commodities were also up on Friday with silver futures increasing 0.1 percent to $16.334 and copper steady at 0.02 percent to $2.511.

Meanwhile, the Indonesian government is asking $2 billion in reimbursement from Thailand’s state oil company and its Australian division due to an oil spill in the Timor Sea nearly eight years ago.

The lawsuit was said to be registered last Wednesday at the Central Jakarta District Court in an attempt to seek justice for the oil spill at the Mondara oil field that started on August 21, 2009.

The demand for compensation includes $1.7 billion for environmental damage and $330 million for restoration work.

Subscribe now at Trade12 and learn more about the latest market news. Check out Trade12 reviews to know more about round the clock information about forex, stock markets, commodities, and economies.

Know more about managing your funds accordingly by visiting Exo Capital Markets.  Exo Capital Markets strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry.

Currencies Mixed on Fed Rate Hike

shutterstock_535486801

The Federal Reserve (Fed) rate hike has greatly affected currencies with the dollar rising versus a number of major currencies on Thursday.

US Dollar Japanese Yen (USD/JPY) gained 0.07 percent from 112.74 to 112.83 as of 09:05 GMT after hitting an overnight increase of 112.9 the highest level since March 21.

Rise in 10-year US government bond brought in above 2.3 percent which helped US Dollar to a six-week high and 4-month raise against the Aussie dollar.

Australian US Dollar (AUD/USD) was down 0.09 percent to 0.7416 on Thursday.

The Fed closed its two-day policy meeting on Wednesday agreeing to keep rates unchanged and giving a positive evaluation to the US economy.

The Fed also said that it expects the economy to return to normal after bumping into a soft patch in the first three months if the year taking notice of the labor market looking stable and inflation draws near to its target.

The euro found some support from business-friendly candidate Emmanuel Macron’s performance on the televised debate on Wednesday evening before Sunday’s French presidential election run-off, cutting gains for the dollar to less than half a cent at 1.0876.

As of 09:39 GMT, the Euro US Dollar (EUR/USD) rose 0.4 percent to 1.0934 on Thursday.

Richard Benson said that the dollar is strong after the Fed but the euro cannot go down at the moment since commodity prices are dropping which means the strength is up to the commodity foreign exchange space.

Following the Fed’s decision on Wednesday, the US dollar index is currently down 0.3 percent on Thursday from its two-week high of 99.46 to 98.95.

Asian currencies fell moderately on the same day with the yen losing 0.1 percent to 0.0089 its weakest levelin more than six weeks.

Currencies such as the Indonesian rupiah fell 0.01 percent to 0.075 after two days of gains.

An Indonesian cabinet minister said on Wednesday that the government will holdup all planned price increases until after this year’s Muslim festival of Eid al-Fitr in order to help control inflation.

The statistics bureau said on Tuesday that India’s yearly inflation grew to a 13-month high in April generally because of rising electricity taxes.

The Malaysian ringgit also slipped 0.1 percent to 0.2311 after six consecutive gains against the US dollar. Economists estimated Malaysia’s exports in March would grow 19.2 percent earlier year down from 26.5 percent boost in February.

Chinese yuan was down 0.05 percent to 0.145 on Thursday after climbing against the US dollar on the same day following the country’s foreign exchange regulator statement that China will strengthen its clean-up on illegal forex deals this year.

The currency was expected to weaken over by next year with the dollar supported by US interest rate hikes.

The Philippine peso was up 0.1 percent to 0.020 on Thursday defying the situation on most Asian currencies. The currency acquired support in local stocks which went up to more than seven-month high due to earnings in the mining sector.

Meanwhile, gold prices fell to a six-week low on Thursday with gold futures dropping 1 percent to 1,236 by 10:42 GMT while spot gold lost 0.2 percent to 1,234.

Silver futures rebounded 0.01 percent from 16.48 to 16.54 after hitting a four-month low of 16.41 a day earlier.

Copper slipped 0.7 percent from 2.528 to 2.525 a pound.

Platinum futures were down 0.09 percent to 903.25 while palladium gained 0.2 percent from 797.30 to 800.92.

Traders are encouraged to be updated with the latest market news at Trade12.com.Check out Trade12 reviews to know more about the trending economic events. Open an account now and learn more!

Financial trouble?  Let Exo Capital Markets manage your funds accordingly.  Exo Capital Markets strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry.

European Stocks Fall Over Political Concerns

shutterstock_90077119

European stocks edged lower on Wednesday due to growing concerns over the Brexit negotiations and as investors wait for the second round of the French presidential election on May 7.

Euro Stoxx 50 (STOXX50E) was down from 0.02 percent during the morning tradeto 0.08 percent to €3,575.

France’s CAC 40 (FCHI) slipped 0.2 percent to €5,289 while Germany’s DAX index (GDAXI) remained 0.1 percent down to €12,485.

Stock markets were on edge following France and Germany’s demand to raise Britain’s Brexit bill gross payment of up to €100 billion ($109 billion).

Investors are also staying cautious as French political rivals Emmanuel Macron and Marine Le Pen will battle each other in one last televised debate on Wednesday evening before Sunday’s voting.

Meanwhile, the US Federal Reserve (Fed) wraps up its two-day meeting on Wednesday and is likely to hold interest rates steady. The Fed was expected to release its monthly monetary policy decision later in the day.

The central bank was also set to hold interest rates with investors looking for any clues on the speed of future rate hikes.

Financial stocks were mostly higher on Wednesday with BNP Paribas SA (BNPP) gaining 0.3 percent to €66.00 and SocieteGenerale (SOGN) climbing 1.1 percent to €51.07. Germany’s Commerzbank AG O.N (CBKG) also rose 0.1 percent to €9.085.

Peripheral lenders also performed well, including Italy’s IntesaSanpaolo (ISP) getting 0.1 percent boost to €2.684 and UniCreditSpA (CRDI) increasing by 1.5 percent to €15.3500. Spain’s Banco Bilbao VizcayaArgentaria (BBVA) was up as well by 0.7 percent to €7.497.

German-based healthcare firm Frensenius SE & Co (FREG) added 2.9 percent to €77.720 to its shares after the company reported a 28 percent boost in net income for the first quarter and rise in sales of 19 percent.

Hugo Boss’ shares also fell 4 percent to €66.440 after reporting another loss in online sales by 27 percent in the first three months of the year even though total sales were up 1 percent to €651 million and net profit rising 25 percent to €48 million ($52 million).

Despite growing results in the financial sectors, London’s stocks were on the downside. FTSE 100lost 0.3 percent to £7,225 subsequent to supermarket J Sainsbury’s drop in shares of about 2.22 percent.The food retailer’s current stock price slipped 4 percent to £268.10 on Wednesday.

Mining stocks in the country were low as well. Glencore PLC (GLEN) dropped 3 percent to £288.45, Antofagasta (ANTO) also lost 3 percent to £777.50 and BHP Billiton (BLT) edged down by 3 percent as well to £1,131.50.

Financial sector was also performing poorly on Wednesday with Lloyds Banking Group (LLOY) falling 0.3 percent to £68.98 and HSBC Holdings (HSBA) receiving a 0.1 percent decline to £639. Barclays (BARC) got a 0.3 percent cut to £209.10 while the Royal Bank of Scotland (RBS) fell 0.04 percent to £264.50.

InterContinental Hotels Group (IHG) gained 1.1 percent to £4,161.

Shares of UK-based Company Dialog Semiconductor which provides power management systems for Apple Inc fell 3 percent to €41.8600 due to weak sales in its flagship iPhone missing average estimates in the second quarter.

Meanwhile, the stocks in the US were also lower on Wednesday with Dow Jones 30 losing 0.08 percent to $20,849, S&P 500 was down 0.1 percent to $2,382 and Nasdaq 100 futures dropped 0.2 percent to $5,623.

Get your round the clock information about forex, stock markets, commodities, and economies subscribe now at Trade12. Check out Trade12 reviews and learn more about the latest market news.

Know more about managing your funds accordingly visit Exo Capital Markets. Exo Capital Markets strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry.