Loh Duri: October 2019

Thursday, October 31, 2019

Warren Buffett: Kualitas terpenting investor adalah tempramen, bukan kecerdasan... - Kontan

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China Skeptis Damai Perang Dagang Terjadi, Ada Apa? - CNBC Indonesia

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Pemerintah Jual Green Sukuk Ritel ST006, Bisa Dibeli Mulai Rp 1 Juta - Kompas.com - KOMPAS.com

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Tahun Depan Tak Ada Lagi Eselon III dan IV - Detikcom

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A private survey shows China's manufacturing activity expanded in October

A woman works in a Macintosh boot factory in Lin'an, located in the east China province of Zhejiang.

Feature China | Barcroft Images | Barcroft Media | Getty Images

A private survey showed factory activity in China expanded in October with the Caixin/Markit PMI coming in at 51.7.

Analysts polled by Reuters had expected the PMI number to come in at 51.0 from 51.4 for September.

PMI readings above 50 indicate expansion, while those below that level signal contraction.

Official manufacturing data released on Thursday showed factory activity in China contracted for the sixth month in a row.

The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. The Caixin indicator features a bigger mix of small- and medium-sized companies.

The PMI is a survey of how businesses view the operating environment. Such data offer a first glimpse into what's happening in an economy, as they are usually among the first major economic indicators released each month.

China's PMI data is closely watched by global investors for signs of trouble amid a domestic economic slowdown and the ongoing U.S.-China trade dispute.

This is breaking news. Please check back for updates.

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White House will reportedly name Chad Wolf as acting secretary of homeland security

The U.S. Department of Homeland Security (DHS) seal hangs on a fence at the agency's headquarters.

Andrew Harrer | Bloomberg | Getty Images

The White House plans to name Homeland Security official Chad Wolf as the department's acting secretary, Politico reported on Thursday, citing three unnamed people familiar with the situation.

Wolf, who currently heads the Department of Homeland Security's policy office in an acting capacity, would become the fifth person to head the agency under President Donald Trump.

Acting Homeland Security Secretary Kevin McAleenan said earlier in October that he would leave his post by Oct. 31.

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Trump is the 'least worst option' for China, says LSE professor

U.S. President Donald Trump is fighting an "all-front" trade war and that may not be a bad thing for China, said one professor at the London School of Economics on Thursday.

Washington has locked itself into trade disputes with multiple countries, which has weakened historical ties and prevented some of those nations from aligning themselves against China, said Keyu Jin, associate professor of economics at LSE, told CNBC at the annual Barclays Asia Forum in Singapore.

"Trump is fighting an all-front war. What could not be better for China? If there were not such a strong alliance with Europe, which is what China's more concerned about — everyone ganging up against China," Jin said.

"Now, Trump is not making that possible, so that's why he's the least worst option."

The U.S. and China have slapped tariffs on billions of dollars of one another's goods. But key sticking points in trade talks include other issues like intellectual property protection and forced technology transfers.

"It is pushing China's strive for self-sufficiency, technological independence," Jin said.

For one, China is developing its own chip industry to increase domestic semiconductor production, she said.

The country aims to produce 70% of its semiconductors locally by 2025, and is ramping up investment in the sector. The Wall Street Journal also reported that China's government set up a $28.9 billion national semiconductor fund to invest in its chip industry.

"It's going to take a while, and it's very costly. China is changing the IT systems away from the West to adopting its own. We're seeing some decoupling in some sense," she added.

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Saham PGAS Terperosok 13,5 Persen, Ini Komentar Analis - Bisnis.com

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Pesan Jokowi ke Menhan Prabowo: Tekan Impor, Genjot Industri Lokal - Detikcom

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Bos Pajak Pilihan Jokowi-Sri Mulyani Dilantik - CNBC Indonesia

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China Skeptis Damai Perang Dagang Terjadi, Ada Apa? - CNBC Indonesia

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Tahun Depan Tak Ada Lagi Eselon III dan IV - Detikcom

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Jerit Buruh Jogja soal UMP Rp1,7 Juta: Tak Manusiawi, Jauh dari KHL - tirto.id

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Saham PGAS Terperosok 13,5 Persen, Ini Komentar Analis - Bisnis.com

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Ributkan Pelarangan Ekspor Nikel, Bahlil: Mereka Tidak Cinta... - SINDOnews.com

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Asing Lepas 5 Saham Ini di Oktober, Net Sell Tembus Rp 3,2 T - CNBC Indonesia

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Buruh Kesal! Iuran BPJS Kesehatan Naik 100%, UMP Cuma 8,5% - Detikcom

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Southern California endures 2nd straight day of wind-driven wildfires

Firefighters battle the Kincade Fire as a barn burns on October 27, 2019 in Santa Rosa, California.

Justin Sullivan | Getty Images

Another spate of Southern California wildfires roared to life on Thursday, destroying homes and forcing evacuations, as the region faced a second day of explosively fierce Santa Ana winds that have fanned flames, displacing thousands of residents.

The most destructive among several new fires in the region erupted hours before dawn in the rugged slopes of the San Bernardino National Forest above the city of San Bernardino and roared into a foothill neighborhood at the north end of town.

The so-called Hillside fire quickly devoured more than 200 acres of dry scrub and destroyed or damaged at least six homes before firefighters managed to keep the flames from advancing farther into neighborhoods, fire officials said.

Authorities ordered the evacuation of nearly 500 homes, displacing about 1,300 residents. No injuries were reported.

The cause of the fire was under investigation, but the San Bernardino County Fire Department said on Twitter that no power lines were located where the blaze originated.

"The winds have probably been the biggest factor promoting this fire spread," fire department spokesman Chris Prater said.

The latest recurrence of Santa Ana winds, howling into the region through mountain passes from the desert, were so extraordinarily dry, powerful and prolonged that the National Weather Service created a new alert level, issuing an "extreme red flag warning" in Los Angeles and Ventura counties.

The warning remains posted until Thursday evening, but fire officials said high winds were expected to taper off by late afternoon.

Getty and Reagan

Two other major fires have charred the region since the start of the week.

A fire that erupted early on Monday near the famed Getty Center art museum in west Los Angeles, threatening thousands of homes in some of the city's wealthiest neighborhoods, was largely suppressed by Thursday, with containment listed at 40%.

Residents were being allowed to return to most of the 10,000 homes that had been ordered evacuated. About a dozen dwellings were lost in the 745-acre Getty fire and two firefighters were injured, but the museum came through unscathed.

About 30 miles to the northwest, a fire that raged to the edge of the hilltop Ronald Reagan Presidential Library in Ventura County's Simi Valley on Wednesday was 10% contained on Thursday after threatening thousands of homes.

Some 26,000 residents were evacuated at the height of that blaze, dubbed the Easy fire, along with an unknown number of horses and other livestock in an area dotted with ranch properties. Firefighters managed to keep flames from damaging the Reagan Library compound.

By Thursday, the Easy fire had scorched more than 1,700 acres, and county schools remained closed.

High winds also left thousands of people in the region without electricity, either from downed power lines or from utilities selectively shutting off power to reduce the risk of wildfires being sparked by damaged wires.

Investigators say the Getty fire was likely caused by a broken tree branch blown into power lines during high winds on Monday morning.

In northern California, firefighters have been fighting the nearly 77,000-acre Kincade Fire in Sonoma County's wine country for more than a week. That blaze has destroyed at least 266 homes and other structures, but was listed as 60% contained on Wednesday.

Pacific Gas and Electric Co acknowledged last week that the Kincade fire started near a damaged transmission tower at about the time a live high-voltage line on that tower malfunctioned.

PG&E filed for bankruptcy in January, citing $30 billion in potential liability from a series of deadly fires sparked by its equipment in 2017 and 2018.

As many as 190,000 people were displaced at the height of the Kincade Fire, but some evacuation orders have since been lifted.

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Everything Jim Cramer said on 'Mad Money,' including stock picks, Fed and China chatter, Smarties

CNBC's Jim Cramer reveals stocks worth buying after Thursday's market decline. The "Mad Money" host chats with top brass of Columbia Sportswear, Smarties and Eurazeo. He explains why investors shouldn't stress the new speculations about future interest rate cuts and ramblings about U.S.-China trade uncertainties.

Thursday's pull back is a treat to investors

Bristol-Myers Squibb Co. brand medication at a pharmacy in Princeton, Illinois, U.S.

Daniel Acker | Bloomberg | Getty Images

CNBC's on Thursday identified a number of food and drug stocks that are worth buying after the major indexes pulled back during the trading day.

The "Mad Money" host recommended drug stocks , , , and as buys on the way down. He added and to the shopping list, before suggesting that , and are approaching oversold levels.

"When we get these sell-offs we tend to hear broad sweeping predictions, often of dire proportions," Cramer said, arguing that investors should "view this pullback as a gift."

Columbia Sportswear on shifting sourcing out of China

Columbia Sportswear CEO Tim Boyle

Anthony Pidgeon | Redferns | Getty Images

beat sales and profit estimates in its third-quarter report and raised its earnings guidance for the current quarter, but shares failed to rally in Thursday's session.

The stock was weighed down by doubts that Chinese officials reportedly have about the prospects of reaching a trade deal with U.S. negotiators. Longtime CEO Tim Boyle on Thursday told Cramer that the apparel company has been shifting sourcing away from China.

"We've, over the last several years, been moving product out of China, not because we don't like China, but frankly because there's been better opportunities in other sourcing countries," he said in a one-on-one interview.

Don't fret Fed, China chatter that is a weight on the market

Traders work on the floor of the New York Stock Exchange.

Brendan McDermid | Reuters

The Federal Reserve on Wednesday cut interest rates for the third time this year and talking heads on Thursday began speculating what the central bank would do about monetary policy in the future.

Chinese officials on Thursday reportedly cast doubts about trade talks with U.S. negotiators, and more questions were abound about the trade dispute between the world's largest economies. Both events triggered a sell-off during the session, which Cramer said should be taken with a grain of salt.

"You need to ignore these parlor games that the commentators love to play. I want you to keep your eyes on the prize, and that's owning high-quality stocks of high-quality companies and riding them through periods of idle chatter," the host said. "I know it is hard believe, but let me tell you: after 40 years of doing this, I can tell you that most of this speculation about the Fed or China trade talks is absolutely meaningless. Do yourself a favor and tune it out."

Smarties co-president talks adapting to changing consumer tastes

Liz Dee, Co-President, Smarties

Scott Mlyn | CNBC

Smarties, the privately held tablet candy producer now in its fifth generation of family ownership, is an iconic candy brand that is working to keep with the modern consumer and finding success. Co-President Liz Dee paid Cramer a visit to discus the host's favorite treat, which Dee explained is free of fat, gluten and top allergens, while also marketable to vegan consumers.

"While we are still a nostalgic and iconic candy, we continue to stay fresh and current for today's consumers," she said. "So we're really working for today's sensibilities while still staying classic and true to our roots with the candy."

Eurazeo's Adrianne Shapira on emerging consumer trends

Adrianne Shapira, Eurazeo

Scott Mlyn | CNBC

Eurazeo Managing Director Adrianne Shapira sits down with Jim Cramer to explain how the French private equity firm evaluates investment opportunities and breaks down changing consumer tastes she sees in the market. The company's portfolio includes Nest Fragrances, cosmetics company Pat McGrath Labs and fashion curator Bandier, among others.

"I think what we found is our founders — all of our five investments are founder led — they are unbelievable soulful people," Shapira said in the one-on-one, "and they've got great stories to tell and as a result you know consumers really resonate with that."

Cramer's lighting round

In Cramer's lightning round, the "Mad Money" host takes calls and delivers his thoughts about callers' favorite stock picks in rapid speed.

: "Xilinx has got too much China."

: "No, we're not going to buy more oils. ... The oils are just a bummer."

: "It's a REIT for cannabis, and I'm going to say nothing cannabis is working, including a REIT. So no way, no how."

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

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Ekonomi Global Melambat, Penjualan BUMI Malah Naik 63,1 MT - CNBC Indonesia

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Simak Perubahan Jadwal Kereta Api mulai Desember 2019 - Bisnis.com

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Jim Cramer says investors should view Thursday's market pullback 'as a gift'

CNBC's Jim Cramer on Thursday identified a number of food and drug stocks that are worth buying after the major indexes pulled back during the trading day.

The "Mad Money" host recommended drug stocks Bristol-Myers Squibb, Merck, Eli Lilly, Biogen and Abbott Laboratories as buys on the way down. He added Mondelez and Waste Management to the shopping list, before suggesting that Walmart, Target and Costco are approaching oversold levels.

"When we get these sell-offs we tend to hear broad sweeping predictions, often of dire proportions," Cramer said, arguing that investors should "view this pullback as a gift."

The Dow Jones Industrial Average dipped 0.52%, or about 140 points, to 27,046.23 in the session. The S&P 500 and Nasdaq Composite both dipped as much as 0.30% to slide away from record levels.

Stocks traded lower after new doubts emerged from Chinese officials about a long-term solution to the U.S-China trade war, despite the day prior getting strong earnings reports from Facebook and Apple and an interest rate cut from the Federal Reserve.

Cramer, however, contended that China is not calling the shots in the trade negotiations. He said the Chinese economy is feeling more of the brunt from the trade dispute as American manufacturers move operations outside of China to avoid tariff costs.

He insisted that the "sellers are wrong," finding solace in the fact that stocks moved on speculation.

"When you look at a sell-off through that prism," after taking into account everything that's going right, "you'll recognize that nothing has changed here except the stock prices got cheaper. The market's throwing a sale that it doesn't need to throw."

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Wednesday, October 30, 2019

Luhut Sebut Proyek Puluhan Miliar Dolar AS Terhambat di RI - CNN Indonesia

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כך אדל ירדה במשקל: הדיאטה שמטריפה את הסלבס - ynet ידיעות אחרונות

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Laba Bank-bank Ini Turun, Bernarkah Industri Tengah Sekarat? - CNBC Indonesia

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Jokowi Bentuk Badan Pariwisata dan Ekonomi Kreatif - CNN Indonesia

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Daripada Buat Beli Lem, Rp 82 Miliar Mending Dipakai untuk Apa Ya? - Detikcom

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US agrees on $1 billion 1MDB recovery deal with Malaysia's Jho Low

Logo of 1MDB (1Malaysia Development Berhad) on a bus window in Kuala Lumpur, Malaysia, taken on February 17, 2017.

Chris Jung | NurPhoto | Getty Images

The U.S. Justice Department on Wednesday reached a settlement deal with Malaysian financier Jho Low to recover almost $1 billion in funds the fugitive and his family had misappropriated from Malaysian investment fund 1MDB.

High-level officials of 1Malaysia Development Berhad (1MDB) and associates including Low had siphoned over $4.5 billion belonging to the state-owned wealth fund from 2009 to 2015, the Justice Department said.

Officials in Malaysia and the United Arab Emirates, Wall Street bank Goldman Sachs Group and Deutsche Bank have all been caught up in probes into multi-year conspiracy.

Low faced charges in both United States and Malaysia over his central role in the scandal at 1MDB, which was founded by former Malaysian Prime Minister Najib Razak.

Low agreed to give up high-end real estate in Beverly Hills, New York and London and other business investments totaling $700 million, the Justice Department said in a statement and court document filed on Wednesday. The settlement also included assets in the United Kingdom and Switzerland.

That's on top of a $120-million yacht and $140 million in other assets previously forfeited. If approved, the settlement will mark the largest civil forfeiture ever concluded by the Justice Department, it said.

"The message in this case is simple: the United States is not a safe haven for pilfered funds," said U.S. Attorney Nicola T. Hanna of the Central District of California.

The deal does not include an admission of guilt or wrongdoing and is not tied to the criminal action against Low.

"I am very pleased to confirm that a landmark comprehensive, global settlement has been reached with the United States government," Low said in an emailed statement.

Goldman said earlier this month it was cooperating with the Justice Department and other government and regulatory investigations.

"The firm is also engaged in discussions with certain government and regulatory authorities with respect to potential resolution of their investigations," the bank said in a U.S. Securities and Exchange Commission filing on Oct. 15.

Last year, Malaysia filed criminal charges against Goldman over its role as underwriter and arranger of three bond sales that raised $6.5 billion for 1MDB. Prosecutors in August filed criminal charges against 17 current and former directors at Goldman units.

The proposed settlement was filed in a California court on Wednesday and needs to be approved by a judge.

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Cium Kejanggalan, Ekspor Bijih Nikel Dihentikan - KOMPASTV

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China's manufacturing activity shrank for the sixth straight month in October

Workers are seen at a production line manufacturing solar photovoltaic components at a factory in Huzhou, Zhejiang province, China February 12, 2019.

Lin Yunlong | Zhejiang Daily | Reuters

China on Thursday reported that factory activity shrank for the sixth straight month in October, with the official Purchasing Managers' Index for manufacturing coming in at 49.3 in October.

In September, the official manufacturing PMI was 49.8, according to the country's statistics bureau.

PMI readings above 50 indicate expansion, while those below that level signal contraction.

PMI data on China is closely watched by global investors for signs of trouble amid a domestic economic slowdown and the ongoing U.S.-China trade dispute.

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Los Angeles Lakers, Delta extend partnership; now offering ticket exchange service

Los Angeles Lakers forward LeBron James (23) moves to the basket against Denver Nuggets guard Jamal Murray (27) during the second half at Staples Center, March 6, 2019.

Gary A. Vasquez | USA TODAY Sports | Reuters

The Los Angeles Lakers and Delta Air Lines extended their partnership on Wednesday, allowing Atlanta based company to remain the "exclusive airline partner" of the team.

To celebrate the deal, Delta and the Lakers agreed to launch "Showtime Seat Exchange," a charitable trading service which will allow season ticket holders to receive an airline ticket in exchange for tickets to one of the four available Lakers home game.

"We are incredibly proud to partner with Delta on the launch of 'Showtime Seat Exchange'," Tim Harris, the Lakers President of Business Operations, said in a statement. "For almost a decade, Delta has worked together with the team to create unique and innovative programs that give back, and this initiative is yet another example of their continued commitment to Lakers fans and the community."

Fans can gift tickets to one of the following Lakers home games: the Nov.15 contest against the Sacramento Kings, the Dec. 22 outing against the Denver Nuggets, the Jan. 31 (Portland Trail Blazers), or the March 15 (Nuggets). Once the exchange program reaches 50 tickets, the service will close.

For their donation, ticketholders will receive domestic, roundtrip Delta vouchers "to be used within one year from the date of issue." Local charities that will receive the game tickets include After-School All-Stars, Bob Hope USO, Junior Achievement of Southern California, and KIPP LA public schools.

"The launch of 'Showtime Seat Exchange' allows our organizations to make a strong, aligned impact, connecting our community and customers through this unique program," Scott Santoro, Delta's Vice President of Los Angeles and West Sales, said in the statement.

The exchange service for the Nov. 15 game is now open at Lakers.com/showtimeseatexchange. The service will close on Nov. 5 or when 50 tickets are donated. Tickets for this game will be given to the After-School All-Stars organization.

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New Ford deal with UAW includes $6 billion in investments, thousands of jobs

Gary Jones, president UAW International, (left) and Bill Ford, executive chairman, Ford Motor, shake hands on July 15, 2019 at Ford World Headquarters to begin negotiations for a new contract.

Ford

DETROIT — Ford Motor and the United Auto Workers reached a tentative deal on a new labor contract Wednesday night without a strike.

The four-year deal includes $6 billion in new investments from Ford and the creation or retention of 8,500 U.S. jobs, according to the union.

Other details of the proposed contract were not disclosed. However, the pact is expected to share many of the same terms as the union's recent contract with General Motors. That deal included 3% raises or 4% lump-sum bonuses each year of the contract, retention of roughly 3% out-of-pocket health-care costs and a path for temporary workers to become full-time employees.

GM also agreed to $11,000 ratification bonuses for most of its roughly 48,000 UAW employees, however, previous contracts have included lower bonuses for Ford and Fiat Chrysler workers.

Ford confirmed the proposed deal, which must be approved by local union leaders and members, but declined to provide further details.

"These were long and hard hours, but I feel confident they were able to secure a contract that protects our member's future," UAW President Gary Jones said in a release announcing the deal.

The union traditionally uses "pattern bargaining" with the Detroit automakers. It selects a "target" company to negotiate with first. Once a deal is agreed upon and ratified, the union uses the contract as a template for negotiations with the other two automakers.

Ford's negotiations with the union were expected to be less contentious and move more quickly than the UAW's talks with GM, which included a 40-day strike that ended Friday and cost the automaker billions.

The Ford contract is likely at least a week or two away from being approved or rejected by rank-and-file union members. It still needs approval from local union leaders who will meet Friday in Detroit to vote on the deal. If the local UAW leaders approve the proposed contract, Ford's roughly 55,500 UAW members must then vote on it.

If members vote the deal down, negotiators would be expected to return to the bargaining table and a strike would once again be an option for the union.

The UAW, if the deal is ratified, would next turn its attention to Fiat Chrysler, the last of the Detroit automakers the union needs to negotiate with for 2019.

The UAW's discussions with Fiat Chrysler are expected to be more contentious than those with Ford amid a federal probe into union corruption that started with the Italian-American automaker. There's also uncertainty about the company's future amid a potential merger deal confirmed this week with French automaker PSA Group.

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Top Trump adviser steps down ahead of impeachment testimony

President Donald Trump's top adviser for Russian and European affairs is leaving his job at the White House, a day before he's scheduled to testify before the House impeachment investigators, a senior administration official said Wednesday.

Tim Morrison owes his job at the National Security Council to Trump, but his testimony Thursday in the House impeachment inquiry might be central to a push to remove the president from office.

A senior administration official said Morrison "has decided to pursue other opportunities." The official, who was not authorized to discuss Morrison's job and spoke only on condition of anonymity, said Morrison has been considering leaving the administration for "some time."

Morrison has been in the spotlight since August when a government whistleblower said multiple U.S. officials had said Trump was "using the power of his office to solicit interference from a foreign country in the 2020 U.S. election."

Now it's his turn in the impeachment probe's hot seat.

Morrison, tall and lean with an authoritative voice, will be asked to explain that "sinking feeling" he got when Trump demanded that Ukraine's president investigate former Vice President Joe Biden and meddling in the 2016 election.

Morrison, who is in his 40s, is a political appointee in the Trump White House, brought on board by former national security adviser John Bolton to address arms control matters and later shifted into his current role as a top Russia and Europe adviser. It was there that he stepped into the thick of an in-house squabble about the activities of Rudy Giuliani, Trump's personal attorney who had been conversing with Ukrainian leaders outside of traditional U.S. diplomatic circles.

Known as a "hawk" in national security circles, Morrison is set to be the first political appointee from the White House to testify before impeachment investigators. The probe has been denounced by the president, who has directed his staff not to testify.

Regardless of what he says, GOP lawmakers will be hard-pressed to dismiss Morrison, formerly a longtime Republican staffer at the House Armed Services Committee. He's been bouncing around Washington in Republican positions for two decades, having worked for Rep. Mark Kennedy, R-Minn., Sen. Jon Kyl, R-Ariz., and as a GOP senior staffer on the House Armed Services Committee, including nearly four years when it was chaired by Rep. Mac Thornberry, R-Texas.

Morrison's name appeared more than a dozen times in earlier testimony by William Taylor, the acting U.S. ambassador in Ukraine, who told impeachment investigators that Trump was withholding military aid unless the new Ukrainian president, Volodymyr Zelenskiy, went public with a promise to investigate Trump's political rival Joe Biden and his son Hunter. Taylor's testimony contradicts Trump's repeated denials that there was any quid pro quo.

Taylor said Morrison recounted a conversation that Gordon Sondland, America's ambassador to the European Union, had with a top aide to Zelenskiy named Andriy Yermak. Taylor said Morrison told him security assistance would not materialize until Zelenskiy committed to investigate Burisma, a Ukrainian gas company that once employed Biden's son. A White House meeting for Zelenskiy also was in play.

"I was alarmed by what Mr. Morrison told me about the Sondland-Yermak conversation," Taylor testified. "This was the first time I had heard that the security assistance — not just the White House meeting — was conditioned on the investigations."

Taylor testified that Morrison told him he had a "sinking feeling" after learning about a Sept. 7 conversation Sondland had with Trump.

"According to Mr. Morrison, President Trump told Ambassador Sondland that he was not asking for a quid pro quo," Taylor testified. "But President Trump did insist that President Zelenskiy go to a microphone and say he is opening investigations of Biden and 2016 election interference, and that President Zelenskiy should want to do this himself. Mr. Morrison said that he told Ambassador Bolton and the NSC lawyers of this phone call between President Trump and Ambassador Sondland."

Morrison told people after Bolton was forced out of his job that the national security adviser had tried to stop Giuliani's diplomatic dealings with Ukraine and that Morrison agreed, according to a U.S. official, who was not authorized to discuss Morrison's role in the impeachment inquiry and spoke only on condition of anonymity. The official said Morrison told people that with the appointment of Robert O'Brien as Bolton's successor, his own future work at the NSC was in a "holding pattern."

Bolton had brought Morrison into the NSC in July 2018 as senior director for weapons of mass destruction and biodefence. He's known as an arms control expert or an arms treaty saboteur, depending on who you ask.

Morrison, who earned a bachelor's degree from the University of Minnesota and a law degree from George Washington University, keeps nuclear strategist Herman Kahn's seminal volume on thermonuclear warfare on a table in his office.

Daryl Kimball, executive director of the Arms Control Association, said Bolton and Morrison are likeminded. Kimball said both have been known for calling up GOP congressional offices warning them against saying anything about arms control that didn't align with their views.

"Just as John Bolton reportedly did, I would be shocked if Morrison did not regard Giuliani's activities as being out of bounds," said Kimball, who has been on opposite sides of arms control debates with Morrison for more than a decade.

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Samsung says Q3 profit fell 56% from a year ago

A Samsung Electronics Co. corporate flag flies outside the company's Seocho office building in Seoul, South Korea, on Wednesday, Feb. 7, 2018.

Jean Chung | Bloomberg | Getty Images

Samsung Electronics on Thursday said its operating profit for the three months ending in September fell 56% versus the same period a year ago. But the number ticked up almost 18% from the previous quarter.

The number beat guidance the company provided earlier this month. It hinted at a slow recovery in the semiconductor space, where chipmakers have struggled due to low prices and demand for memory chips.

Here's what the company reported versus what it had reported a year ago:

Operating profit: 7.78 trillion Korean won ($6.7 billion) vs. 17.57 trillion won a year ago
Consolidated sales: 62 trillion Korean won vs. 65.46 trillion won a year ago

Memory components used in smartphones and data centers make up Samsung's main profit-making business.

This is breaking news. Please check back for updates.

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Everything Jim Cramer said on 'Mad Money,' including Apple and Facebook earnings

CNBC's Jim Cramer thinks investors need to start considering consumption time and the federal government as a weight on Apple, Facebook and other tech stocks. The "Mad Money" host sits down with Wingstop CEO Charlie Morrison to get a read on what's driving the company's growth. Later in the show he bets that Spotify shares are gaining momentum coming off its latest quarterly earnings and says that Biogen could be on its way to being a $100 billion company.

Two critical factors are ahead of Facebook and Apple

Apple CEO Tim Cook

Spencer Platt | Getty Images

Apple and Facebook both recorded top- and bottom-line beats in their quarterly reports Wednesday afternoon, but their stocks barely reacted to the news in after-market trading.

CNBC's suspects challenges for the tech titans may be afloat.

"While Facebook and Apple both reported strong numbers, I think their stocks should've been up much more than they are in [the] after hours," the "Mad Money" host said. "I'm sensing some skepticism ... creeping in about both of them and I suspect some of it has to do with twin constraints of time and government."

Wingstop CEO breaks down the restaurant franchise's growth drivers

Charles Morrison, CEO, Wingstop

Scott Mlyn | CNBC

Wingstop is counting on its advertising, digital and delivery strategies to help power through another year of same-store sales growth, CEO Charlie Morrison told CNBC.

The restaurant chain is approaching its 16th consecutive year of positive comp sales, he said. In its most recent quarter, Wingstop grew its advertising spending more than 50% to $12.7 million and expanded its online business to nearly 36% of domestic sales. Delivery is now offered at 80% of its U.S. restaurants.

"We have a bright future ahead of us — a lot of runway for growth not only here in the U.S. but across the world," Morrison said in an interview with Cramer.

Cramer bets Spotify is building momentum

Daniel Ek, chief executive officer and co-founder of Spotify AB

Akio Kon | Bloomberg | Getty Images

Spotify has solved a number of pressing questions that made investors skeptical about owning the stock, Cramer said.

The music-streaming platform surprised Wall Street on Monday when it recorded a profit including robust subscriber growth in its third quarter, sending the stock up more than 16% that trading day. The stock is now up more than 23% on the year, and the host believes there's more upside on the way.

"The company just reported a game changer of a quarter, and even after that rally, the stock's basically back to where it was when it came public in a direct listing last year," he said.

Biogen could grow into a $100 billion company

Employees at Biogen in Cambridge, Mass.

Suzanne Kreiter | The Boston Globe | Getty Images

Biotech firm Biogen could double its market cap on regulatory approval for its experimental Alzheimer's drug, aducanumab, Cramer said.

Biogen, with a $54.1 billion market cap as of Wednesday's close, "could be worth twice that if all goes well" with the Food and Drug Administration, the host said.

Cramer's lightning round

In Cramer's lighting round, the "Mad Money" host delivers callers his thoughts about their favorite stock picks of the day in rapid speed.

Cedar Fair: "Cedar Fair is up. ... Six Flags is down. You've got the right one, Sandusky, Ohio."

: "I think Square is too low. ... I think it's time to start thinking [it's time] for it to do something."

Disclosure: Cramer's charitable trust owns shares of Apple and Facebook.

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

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Cramer: This biotech stock could be worth over $100 billion on an FDA approval

Biotech firm Biogen could double its market cap on regulatory approval for its experimental Alzheimer's drug, aducanumab, CNBC's Jim Cramer said Wednesday.

Biogen, with a $54.1 billion market cap as of Wednesday's close, "could be worth twice that if all goes well" with the Food and Drug Administration, the "Mad Money" host said.

In March, Biogen pulled the plug on its drug and sent its stock tanking after an analysis from an independent audit revealed the experimental medicine was unlikely to work. However, shares of the Cambridge-based company soared more than 26% on Oct. 22 after the drugmaker shocked investors by announcing it was seeking regulatory approval for the drug.

Biogen said that a new analysis of a larger dataset showed that aducanumab "reduced clinical decline in patients with early Alzheimer's disease" and patients who received the drug "experienced significant benefits on measures of cognition and function such as memory, orientation, and language."

Biogen's drug targets a compound in the brain known as beta-amyloid, which was believed by many scientists and drugmakers to play a role in the devastating disease by eroding synapses between nerve cells.

There are currently no drugs approved that can reverse the mental decline from Alzheimer's, which is the sixth leading cause of death in the U.S. The FDA has approved Alzheimer's drugs aimed at helping symptoms, not actually reversing or slowing the disease itself. Biogen's drug would be worth billions.

The stunning reversal from Biogen was initially met with deep skepticism from investors, but Cramer expects that will change.

"I think they'll ultimately become believers because Biogen resumed work on this drug at the behest of the FDA," Cramer said. "There are still more holds than buys on the stock, which sells for nine times earnings. It's crazy."

Shares of Biogen closed Wednesday up nearly 1% at about $299 a share. The stock has rallied 34% since it announced it was seeking approval for its Alzheimer's drug last week.

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Tuesday, October 29, 2019

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China warns US that criticism over detention of Uighurs is not 'helpful' for trade talks

This photo taken on June 4, 2019 shows the Chinese flag flying over the Juma mosque in the restored old city area of Kashgar, in China's western Xinjiang region.

Greg Baker | AFP | Getty Images

The United States and 22 other countries at the United Nations pushed China on Tuesday to stop detaining ethnic Uighurs and other Muslims, prompting China's U.N. envoy to warn it was not "helpful" for trade talks between Beijing and Washington.

China has been widely condemned for setting up complexes in remote Xinjiang that it describes as "vocational training centers" to stamp out extremism and give people new skills. The United Nations says at least 1 million ethnic Uighurs and other Muslims have been detained.

"It's hard to imagine that on the one hand you are trying to seek to have a trade deal, on the other hand you are making use of any issues, especially human rights issues, to blame the others," China's U.N. Ambassador Zhang Jun told reporters.

He said there was "progress" in the trade talks. But he said of the U.S. criticism of China at the United Nations: "I do not think its helpful for having a good solution to the issue of trade talks."

U.S. and Chinese negotiators are working to complete the text of an interim trade agreement for U.S. President Donald Trump and Chinese President Xi Jinping to sign at an Asia-Pacific Economic Cooperation summit in Chile on Nov. 16-17.

A U.S. administration official said on Tuesday it might not be completed in time for signing in Chile, but that does not mean the accord is falling apart.

When asked if the statement criticizing China could affect trade talks, U.S. Ambassador to the U.N. Kelly Craft said: "I would be standing here regardless if it was China or wherever it is, wherever there are human rights abuses we would be here in defense of those that are suffering."

Britain's U.N. Ambassador Karen Pierce delivered a joint statement to the 193-member U.N. General Assembly's human rights committee on behalf of 23 states including the United States, Australia, Canada, France, Germany, Japan, The Netherlands, New Zealand, Norway and Sweden.

"We call on the Chinese government to uphold its national laws and international obligations and commitments to respect human rights, including freedom of religion or belief, in Xinjiang and across China," Pierce said.

The group of states pushed China to urgently implement recommendations by independent U.N. experts on the situation in Xinjiang, "including by refraining from the arbitrary detention of Uighurs and members of other Muslim communities."

They also called on countries not to send refugees or asylum seekers back if they could face persecution, Pierce said.

'Remarkable achievements'

Zhang described the accusations against Beijing as baseless and a "gross interference in China's internal affairs and deliberate provocation."

Separately, Belarus U.N. Ambassador Valentin Rybakov addressed the General Assembly rights committee on behalf of 54 countries, including China, Pakistan, Russia, Egypt, Bolivia, Democratic Republic of Congo, Serbia.

He praised Beijing's respect and protection of rights while dealing with counterterrorism and deradicalization in Xinjiang and its commitment to openness and transparency by inviting diplomats, journalists and officials to the region.

"Now safety and security have returned to Xinjiang and fundamental human rights of people of all ethnic groups there are safeguarded," Rybakov said. "We commend China's remarkable achievements in the field of human rights."

The statements follow a similar move at the U.N. Human Rights Council in July when 22 states — including the United States and Britain — wrote a letter calling on China to halt its mass detentions. In response, Saudi Arabia, Russia and more than 30 other countries wrote a rival letter that commended China's rights record.

Asked by Reuters last month if U.S. criticism of China's policies on Xinjiang and Hong Kong political protests could affect trade talks, China's state councillor and foreign minister, Wang Yi, said: "We hope trade talks can have a loose and good foreign environment."

China dislikes public criticism and met some foreign envoys before the latest session of the U.N. General Assembly in New York, which began last month. Chinese human rights academics also defended Beijing's policies in Xinjiang, Tibet and Hong Kong during a briefing with reporters at China's U.N. mission in New York last week.

The United States led more than 30 countries at an event on the sidelines of the annual U.N. gathering of world leaders last month in condemning what it called China's "horrific campaign of repression" against Muslims in Xinjiang. China denounced the event.

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