Taboo money topics: How to talk about student debt with your partner

Graphic preview Taboo money topics A recent survey found that more people are uncomfortable talking about their student debt than any other aspect of their finances. kiersten schmidt/grow TD AmeritradeHere’s how to make that conversation easier and keep student debt from hurting your relationship. Ask your partner if they have student debt too, and if so, what kind. Of the borrowers surveyed, 84% report that student loans are negatively affecting the amount they are able to save for retirement,


Graphic preview Taboo money topics A recent survey found that more people are uncomfortable talking about their student debt than any other aspect of their finances. kiersten schmidt/grow TD AmeritradeHere’s how to make that conversation easier and keep student debt from hurting your relationship. Ask your partner if they have student debt too, and if so, what kind. Of the borrowers surveyed, 84% report that student loans are negatively affecting the amount they are able to save for retirement,
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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: ivana pino, myelle lansat
Keywords: news, cnbc, companies, borgesodell, money, student, couples, financial, debt, loans, talk, topics, taboo, help, theres, partner


Taboo money topics: How to talk about student debt with your partner

Over a third of Americans say student loan debt is the most uncomfortable financial topic to discuss in social settings. But keeping your loved ones in the dark about your debt can lead to turmoil in your personal relationships. Nearly four in 10 student loan borrowers say that loans have affected their relationships with significant others, according to a recent study by the Teachers Insurance and Annuity Association of America (TIAA) and the MIT AgeLab. But there’s no reason to be ashamed of having student loans. Nearly 70% of students from the class of 2018 borrowed money to pay for school, according to the Federal Reserve. Cynthia Borges-O’Dell, a licensed marriage and family therapist from Modesto, California, says if you’re in an exclusive relationship, it helps to be candid about your student debt situation early on.

Graphic preview Taboo money topics A recent survey found that more people are uncomfortable talking about their student debt than any other aspect of their finances. Topics that respondents aren’t comfortable discussing Social chart title Note: Based on a survey of 1,006 U.S. adults aged 22 and older with at least $10,000 in investable assets. kiersten schmidt/grow TD Ameritrade

Here’s how to make that conversation easier and keep student debt from hurting your relationship.

Be transparent

“I think there is an embarrassment or a stigma attached to student loan debt because there’s an underlying fear that someone will not be able to accept it, or understand why one made the decision to acquire that kind of student debt, when there are other options,” says Borges-O’Dell. She recommends kicking off the conversation by explaining your initial reasons for choosing your college. Ask your partner if they have student debt too, and if so, what kind. Sharing personal financial information probably won’t cause a rift, she says. Being aware of your loved one’s loans, and making them aware of yours, can actually help you better understand each other and your priorities. And being open about money in general can establish a solid foundation for your relationship. “It’s perfectly fine to ask what kind of credit history they have and what their spending habits are,” too, she says. “Knowing this information about your partner will help them come up with a financial plan and set goals for the future.”

I think there is an embarrassment or a stigma attached to it because there’s an underlying fear that someone will not be able to accept it or understand why one made the decision to acquire that kind of student debt when there are other options. Cynthia Borges-O’Dell Licensed Marriage and Family Therapist

Decide what your roles will be

One of the most important decisions you make as a couple could be determining what your partner’s role is in your debt. Will they cheer you on as you pay it down? Are they willing or able to contribute in some way? What are the two of you comfortable with? Whatever you agree to do, make sure you set clear expectations early on: 36% of borrowers who currently contribute to their partner’s education report conflict as a result of unclear expectations about the amount, according to the TIAA and MIT AgeLab study. There’s no right or wrong way to go about handling your debt, and having the conversation will help you both come to a decision. It can also inform the approach you take to money generally as a couple. “I’ve seen people tackle it all kinds of ways, but usually couples will divvy their finances into ‘yours, mine, and ours’ buckets,” says Richard Kahler, a NAPFA registered financial advisor with Kahler Financial Group in Rapid City, South Dakota. Buckets allow for couples to contribute to a joint account in proportion to their individual incomes or to put in equal amounts. Though Kahler says many couples choose to tackle student debt together by putting all of their earnings into an “us” bucket, and paying off debt and other bills jointly, some couples opt for separate accounts and that’s fine, too.

Consider asking an expert

If you and your partner decide to tackle the debt together, Borges-O’Dell suggests seeking help from a certified financial planner (CFP) to ensure that you’re both on the same page about money. Clear, consistent communication helps couples manage finances and set expectations about how much of your combined monthly income will be put towards debt and other expenses. Borges-O’Dell says that meeting with a CFP and having regular check-ins with each other can help both parties come to a mutual agreement on a budget and a set of financial goals to help keep both partners accountable. “They need to sit down and schedule a time once a week or so to review their finances and to review where the money is going,” she says, so you’re making joint decisions.

Agree on your goals and how to pursue them

Student debt can be difficult to discuss in part because of the threat it poses to other priorities. Of the borrowers surveyed, 84% report that student loans are negatively affecting the amount they are able to save for retirement, for example. But student loans don’t have to hold you back, as an individual or as a couple. Though Kahler says that, in most cases, paying off student debt should be a high priority, your circumstances, like the amount of debt you have and the interest rates on your loans, matter. You may have the flexibility to prioritize saving for a mortgage, too, for example, or to start a family. And many experts encourage you to start putting aside at least a little for retirement as soon as you can, even if you’re paying off student loans at the same time, so that you can benefit from compounding. Start having the conversations with your partner early on so that you can figure out how to take care of your loans and how to think beyond them, too. Borges-O’Dell says that these productive conversations, and a stronger, more open relationship, begins with overcoming the fear of telling your partner about your student loan debt. “If you enjoyed what you did, if you got an outstanding education, then why be embarrassed about that?” she says. “There’s no doubt that debt is kind of a romantic buzzkill,” Kahler acknowledges. But dealing with debt can help you and your partner can learn to collaborate and compromise, skills that help couples thrive in all sorts of challenging situations, and it can end up bringing you closer. More from Grow: ‘Struggle Meals’ host: You can cook fast, easy dishes for only $2 a person

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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: ivana pino, myelle lansat
Keywords: news, cnbc, companies, borgesodell, money, student, couples, financial, debt, loans, talk, topics, taboo, help, theres, partner


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The credit score you need to get the best rate on every kind of loan

The better your credit score, the better interest rate you can get on all types of loans, says Ted Rossman, a credit industry analyst for CreditCards.com. “Besides your net worth, your credit score is probably the most important number in your financial life [and] your credit score has a major effect on your net worth. ” Read more: The credit score you need to get the best deal on a cash-back credit cardPrivate student loan: 750When you’re borrowing federal direct student loans as an undergradua


The better your credit score, the better interest rate you can get on all types of loans, says Ted Rossman, a credit industry analyst for CreditCards.com. “Besides your net worth, your credit score is probably the most important number in your financial life [and] your credit score has a major effect on your net worth. ” Read more: The credit score you need to get the best deal on a cash-back credit cardPrivate student loan: 750When you’re borrowing federal direct student loans as an undergradua
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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: myelle lansat, ivana pino
Keywords: news, cnbc, companies, need, card, student, best, rate, cashback, credit, kind, loan, interest, score


The credit score you need to get the best rate on every kind of loan

If you’re considering taking out any type of loan, you should be monitoring your credit score. The better your credit score, the better interest rate you can get on all types of loans, says Ted Rossman, a credit industry analyst for CreditCards.com. Lenders use your score to gauge your creditworthiness, or how likely you may be to pay back what you owe. That affects whether you get a loan in the first place and what kind of interest rate you’re offered. “A good credit score can save you a ton of money in the long run,” says Rossman. “Besides your net worth, your credit score is probably the most important number in your financial life [and] your credit score has a major effect on your net worth. ” There are different scoring models and ranges for credit scores, but most lenders use FICO scores, which range from 300 to 850. Different loans have different qualifying credit scores, but to nab any lender’s best rate, you’ll generally need at least a score in the 700s, which falls in the middle of the “good” range in FICO’s scoring model.

Graphic preview FICO breakdown Factors that impact your credit score Social chart title kiersten schmidt/grow FICO

Here’s what score to aim for to get a lender’s best rates on different kinds of loans.

Auto loan: 720

Most auto lenders use FICO’s auto score, which looks specifically at your creditworthiness for car loans. It uses a wider scoring range of 250-900. If your credit score is 720 or higher on that scale, you’ll qualify for the best super-prime (excellent) rate for a car loan, says credit expert Gerri Detweiler. For example, if your score is 700, or “good,” you can qualify for 6% on $29,620 loan (the average new car loan amount) paid over 60 months with a monthly payment of $572 and $4,701 in interest. But if your FICO score is 720 or above, you can qualify for 4.6% on a new car with a lower monthly payment of $554, saving you $18 each month and $1,078 over the life of the loan. Read more: This is the credit score you need to get the best rate on a car loan

Cash back rewards card: 740

About half, 49%, of Americans with a credit card have a cash-back card, making it the most popular type of rewards card. A credit score of 740 or above gives you a “slam dunk” chance to qualify for a top cash-back rewards card, says Rossman. If your credit score is 650 or lower, however, you can still be approved for a cash-back rewards card like the Apple card, for instance, but your credit limit may be lower and your interest rate may be higher, says credit expert John Ulzheimer, who has worked for FICO and Equifax. To make cash-back cards worthwhile, you have to pay your bills in full and avoid interest rates, adds Rossman. For example, if your credit score is 650 and you put $1,000 on a cash-back card with a high interest rate of 20% without paying off the balance immediately, you’d pay $200 in interest. Even if you have 2% cash-back savings on that card — so, a savings of $20 on $1,000 worth of purchases — you’d end up $180 behind. Read more: The credit score you need to get the best deal on a cash-back credit card

Private student loan: 750

When you’re borrowing federal direct student loans as an undergraduate, your credit score doesn’t matter. But if you need to take out private student loans, as about 14% of undergraduates do, lenders look at your credit score and credit history. You’ll need a credit score of at least 750 to get the best rate on a private student loan, says Betsy Mayotte, president of The Institute of Student Loan Advisors. That’s currently about 3%. You may still be able to qualify for a loan with a score as low as 650, but your interest rate will be much higher — in the range of 8% or 9%, and it can go as high as 14%. Read more: The credit score you need for the best rate on a private student loan

Mortgage: 760


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: myelle lansat, ivana pino
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Making one small change can supercharge your retirement savings

New data from Fidelity shows that employees are contributing more to their retirement accounts than ever, and one-third of workers have increased their savings rate in recent months. “People have had the opportunity to increase their savings rate.” Indeed, experts agree that you can see the biggest impact from making one small, important change: Get in the habit of not just making but upping your retirement contributions. “Increasing your contribution rate, even by 1%, can make a big difference


New data from Fidelity shows that employees are contributing more to their retirement accounts than ever, and one-third of workers have increased their savings rate in recent months. “People have had the opportunity to increase their savings rate.” Indeed, experts agree that you can see the biggest impact from making one small, important change: Get in the habit of not just making but upping your retirement contributions. “Increasing your contribution rate, even by 1%, can make a big difference
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Making one small change can supercharge your retirement savings

New data from Fidelity shows that employees are contributing more to their retirement accounts than ever, and one-third of workers have increased their savings rate in recent months.

The average employee now contributes 8.8% of their salary, with employers kicking in another 4.7%, for a total of 13.5%. “That’s really close to the 15% we believe people should be saving,” Katie Taylor, a vice president at Fidelity, told CNBC.

The strong economy has likely played a role in helping people save more, says Douglas Boneparth, a certified financial planner and founder of Bone Fide Wealth in New York City. “The markets are rising, and it creates a positive effect,” he says. “People have had the opportunity to increase their savings rate.”

Indeed, experts agree that you can see the biggest impact from making one small, important change: Get in the habit of not just making but upping your retirement contributions.

“Increasing your contribution rate, even by 1%, can make a big difference in your long-term retirement savings,” says Kevin Barry, president of workplace investing at Fidelity Investments. “What may seem like a small amount today can have a significant impact on your account balance in 10 or 20 years.”


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: sam becker, anna-louise jackson
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China’s enormous debt ‘no longer can be ignored,’ analyst says

The world’s second biggest economy, which is slowing, is past a point where it cannot ignore its enormous debt anymore, according to an analyst. Fraser Howie, an independent analyst, told CNBC Tuesday that there’s a “whole host of hidden debt” in China, which had kick started stimulus this year as its economy slowed. “China is very much past the tipping point where the debt simply no longer can be ignored. “China … (had) this huge stimulus and turn on the credit taps and they drove all this gl


The world’s second biggest economy, which is slowing, is past a point where it cannot ignore its enormous debt anymore, according to an analyst. Fraser Howie, an independent analyst, told CNBC Tuesday that there’s a “whole host of hidden debt” in China, which had kick started stimulus this year as its economy slowed. “China is very much past the tipping point where the debt simply no longer can be ignored. “China … (had) this huge stimulus and turn on the credit taps and they drove all this gl
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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: shriya sharma
Keywords: news, cnbc, companies, china, started, stimulus, ignored, longer, analyst, rate, demand, told, economy, debt, enormous, chinas, slowing, howie


China's enormous debt 'no longer can be ignored,' analyst says

The world’s second biggest economy, which is slowing, is past a point where it cannot ignore its enormous debt anymore, according to an analyst.

Fraser Howie, an independent analyst, told CNBC Tuesday that there’s a “whole host of hidden debt” in China, which had kick started stimulus this year as its economy slowed.

“China is very much past the tipping point where the debt simply no longer can be ignored. The cost of servicing the debt … simply distracts from almost everything else,” said Howie.

China’s total debt — corporate, household and government — rose to over 300% of its GDP in the first quarter of 2019, slightly up from the same period a year earlier, according to a report by the Institute of International Finance.

“China … (had) this huge stimulus and turn on the credit taps and they drove all this global demand,” Howie said. “But there clearly was going to be a cost … and now they are suffering (from) it.”

China’s debt levels rapidly shot up a few years ago as its banks extended record amounts of credit to drive growth, which led to the Asian giant undertaking deleveraging efforts, or the process of reducing debt.

But the trade war has put a dent in its efforts to pare its massive debt as Beijing sought ways to boost its slowing economy, which was at its lowest growth in 27 years. Earlier this year, banks started to increase its lending again, with new loans surging to a record high.

In what some analysts called effectively a rate cut, the People’s Bank of China also this week launched a key interest rate reform — the loan prime rate — that would make borrowing costs for companies cheaper, and theoretically boost investment.

But Howie told CNBC that the issue was really whether there would be demand for more credit.

“The Chinese economy is clearly slowing, there are a lot of headwinds, there’re companies leaving China. China’s becoming a much harder investment case for a number of reasons. So is the underlying demand there or not?” he asked.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: shriya sharma
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Pompeo says the US message on Huawei is clear. Trump’s words say otherwise

U.S. Secretary of State Mike Pompeo said this week the U.S. has been very clear about its stance toward Chinese telecommunications giant Huawei. “No mixed messages, not at all,” Pompeo told CNBC earlier this week. “The threat of having Chinese telecom systems inside of American networks or inside of networks around the world presents an enormous risk — a national security risk. Our mission set is to find a way to reduce that risk, to take that risk down as much as we possibly can,” he said. The


U.S. Secretary of State Mike Pompeo said this week the U.S. has been very clear about its stance toward Chinese telecommunications giant Huawei. “No mixed messages, not at all,” Pompeo told CNBC earlier this week. “The threat of having Chinese telecom systems inside of American networks or inside of networks around the world presents an enormous risk — a national security risk. Our mission set is to find a way to reduce that risk, to take that risk down as much as we possibly can,” he said. The
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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: arjun kharpal
Keywords: news, cnbc, companies, words, trumps, huawei, clear, week, mixed, inside, message, networks, say, chinese, way, world, pompeo, equipment, risk


Pompeo says the US message on Huawei is clear. Trump's words say otherwise

U.S. Secretary of State Mike Pompeo said this week the U.S. has been very clear about its stance toward Chinese telecommunications giant Huawei.

“No mixed messages, not at all,” Pompeo told CNBC earlier this week. “President Trump has been unambiguous. I don’t think there’s a mixed message at all.”

“The threat of having Chinese telecom systems inside of American networks or inside of networks around the world presents an enormous risk — a national security risk. Our mission set is to find a way to reduce that risk, to take that risk down as much as we possibly can,” he said.

The U.S. has said Huawei is a risk because its equipment could be used as a backdoor by the Chinese government to carry out espionage — allegations the network equipment maker has consistently denied.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: arjun kharpal
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Stuck between EU leaders and Trump, Boris Johnson could have a very awkward G-7 summit

When some of the world’s most powerful leaders meet in France this weekend for the Group of Seven (G-7) summit, the focus will be on how well (or badly) they get along given a backdrop of widespread disagreements and divergent policies over global trade and geopolitics. Prime Minister Boris Johnson will be in the spotlight as the meeting in Biarritz will be the first he has attended since becoming the U.K.’s leader in July. He will also find himself meeting President Donald Trump, one of the mos


When some of the world’s most powerful leaders meet in France this weekend for the Group of Seven (G-7) summit, the focus will be on how well (or badly) they get along given a backdrop of widespread disagreements and divergent policies over global trade and geopolitics. Prime Minister Boris Johnson will be in the spotlight as the meeting in Biarritz will be the first he has attended since becoming the U.K.’s leader in July. He will also find himself meeting President Donald Trump, one of the mos
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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: holly ellyatt
Keywords: news, cnbc, companies, eu, boris, trump, uk, stuck, leaders, g7, awkward, brexit, summit, trying, trade, france, europe, johnson


Stuck between EU leaders and Trump, Boris Johnson could have a very awkward G-7 summit

When some of the world’s most powerful leaders meet in France this weekend for the Group of Seven (G-7) summit, the focus will be on how well (or badly) they get along given a backdrop of widespread disagreements and divergent policies over global trade and geopolitics.

Prime Minister Boris Johnson will be in the spotlight as the meeting in Biarritz will be the first he has attended since becoming the U.K.’s leader in July. The summit comes at a delicate and uncertain time for the U.K. as its relationship with its closest neighbor Europe undergoes a seismic shift with Brexit, and it looks to the U.S for closer trade ties.

At the G-7, Johnson will find himself face-to-face with the leaders of France, Germany and Italy who, along with the rest of the other 27-countries in the EU, have essentially told him that the Brexit deal he inherited from his predecessor Theresa May is the only one on offer and cannot be changed.

He will also find himself meeting President Donald Trump, one of the most contentious leaders to represent the U.S. at the G-7 in years, to discuss a potential post-Brexit trade deal.

In sum, the U.K. finds itself in a tricky position — at the same time that it is trying to court EU leaders before a October 31 deadline for Brexit, it is trying to woo Trump — not the most popular person in Europe right now.

Trump has signaled that Europe could be the next target when it comes to what he sees as unfair global trade practices against the U.S. In May, he accused the EU of treating the U.S. “worse than China” and he has threatened its car industry with a 25% tariff.

So low are expectations of any substantial agreements between the leaders of the U.S., U.K., Canada, France, Germany, Italy and Japan that the French President Emmanuel Macron, hosting the event, has said there will be no final communique on shared commitments that might have been arrived at the summit.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: holly ellyatt
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Another Asian central bank cuts interest rates — analysts say the region’s not done easing yet

Indonesia’s surprise interest rate cut is the latest in a wave of monetary policy easing in Asia, and analysts say central banks in the region have to ease monetary policy further as growth threatens to stall. Bank Indonesia on Thursday cut its key policy rate by 25 basis points to 5.5% to support growth amid an increasingly fragile global economy. A total of 17 out of 19 economists polled by Reuters had expected the central bank to keep policy steady in August after last month’s easing. A lower


Indonesia’s surprise interest rate cut is the latest in a wave of monetary policy easing in Asia, and analysts say central banks in the region have to ease monetary policy further as growth threatens to stall. Bank Indonesia on Thursday cut its key policy rate by 25 basis points to 5.5% to support growth amid an increasingly fragile global economy. A total of 17 out of 19 economists polled by Reuters had expected the central bank to keep policy steady in August after last month’s easing. A lower
Another Asian central bank cuts interest rates — analysts say the region’s not done easing yet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: yen nee lee
Keywords: news, cnbc, companies, central, inflation, regions, monetary, global, easing, growth, rates, policy, rate, economy, say, indonesias, analysts, bank, interest, asian, cuts


Another Asian central bank cuts interest rates — analysts say the region's not done easing yet

Indonesia’s surprise interest rate cut is the latest in a wave of monetary policy easing in Asia, and analysts say central banks in the region have to ease monetary policy further as growth threatens to stall.

Bank Indonesia on Thursday cut its key policy rate by 25 basis points to 5.5% to support growth amid an increasingly fragile global economy. A total of 17 out of 19 economists polled by Reuters had expected the central bank to keep policy steady in August after last month’s easing.

Perry Warjiyo, Indonesia’s central bank governor, told CNBC on Friday there’s room to cut interest rates this time because inflation for the year is expected to remain within its target range of 2.5% to 4.5%. That will help Indonesia to maintain its growth momentum at a time when the ongoing tariff fight between the U.S. and China has held back global economic activity, he explained.

A lower interest rate environment generally encourages businesses and consumers to spend more, which boost the economy but could cause inflation to rise. Prices rising too much and too quickly are harmful for the economy, so central banks typically adjust monetary policies to keep inflation in check.

“This is a preemptive move to support our growth momentum and to anticipate the possibility of downward risks on the global economic outlook going forward,” Warjiyo told CNBC’s “Street Signs.”

The central bank expects Indonesia’s economy to grow between 5% and 5.4% this year. Last year, the country — Southeast Asia’s largest economy — grew by 5.17%.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: yen nee lee
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Hong Kong accountants join protests, but they’re ‘civilized and calm’

Accountants in Hong Kong took to the streets on Friday to call for the government to accept five demands of the people, including the complete withdrawal of a now-suspended extradition bill. “It’s time for us to stage a really civilized and calm march in the central business district to show that we’re still not happy with how the whole issue has been handled, and (the) government has to respond positively to the demands of the people,” Hong Kong legislator, Kenneth Leung, told CNBC on Friday, a


Accountants in Hong Kong took to the streets on Friday to call for the government to accept five demands of the people, including the complete withdrawal of a now-suspended extradition bill. “It’s time for us to stage a really civilized and calm march in the central business district to show that we’re still not happy with how the whole issue has been handled, and (the) government has to respond positively to the demands of the people,” Hong Kong legislator, Kenneth Leung, told CNBC on Friday, a
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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: stella soon
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Hong Kong accountants join protests, but they're 'civilized and calm'

Accountants in Hong Kong took to the streets on Friday to call for the government to accept five demands of the people, including the complete withdrawal of a now-suspended extradition bill.

“It’s time for us to stage a really civilized and calm march in the central business district to show that we’re still not happy with how the whole issue has been handled, and (the) government has to respond positively to the demands of the people,” Hong Kong legislator, Kenneth Leung, told CNBC on Friday, ahead of the march.

The march was set to take place from Chater Garden, in the central district of Hong Kong, to the central government office.

Hong Kong was a British colony until 1997, when it became a special administrative region of China under the “one country, two systems” framework which allows the territory a certain degree of legal and economic autonomy.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: stella soon
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Trump says he’s ordering American companies to immediately start looking for an alternative to China

President Donald Trump on Friday said he was ordering U.S. companies to “immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.” Trump also said he was ordering all U.S. postal carriers, including FedEx, Amazon, UPS and United States Post Office, “to SEARCH FOR & REFUSE all deliveries of Fentanyl from China (or anywhere else!).” And Trump said he will respond this afternoon to China’s newest round of tariffs on U.S. good


President Donald Trump on Friday said he was ordering U.S. companies to “immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.” Trump also said he was ordering all U.S. postal carriers, including FedEx, Amazon, UPS and United States Post Office, “to SEARCH FOR & REFUSE all deliveries of Fentanyl from China (or anywhere else!).” And Trump said he will respond this afternoon to China’s newest round of tariffs on U.S. good
Trump says he’s ordering American companies to immediately start looking for an alternative to China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: kevin breuninger
Keywords: news, cnbc, companies, postal, respond, american, companies, powell, trump, orders, immediately, tweets, ups, start, china, looking, president, ordering, hes, alternative


Trump says he's ordering American companies to immediately start looking for an alternative to China

President Donald Trump on Friday said he was ordering U.S. companies to “immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.”

Trump also said he was ordering all U.S. postal carriers, including FedEx, Amazon, UPS and United States Post Office, “to SEARCH FOR & REFUSE all deliveries of Fentanyl from China (or anywhere else!).”

And Trump said he will respond this afternoon to China’s newest round of tariffs on U.S. goods.

The White House did not immediately respond when asked if the announcement, delivered in a four-part Twitter thread Friday morning, constituted an official order from the president.

It was not immediately clear how, or under what authority, the president could implement these declared orders, or whether he had already done so.

Stocks sank to session lows shortly after Trump’s tweets. The Dow Jones Industrial Average fell more than 435 points, or 1.6%, while the S&P 500 slid 1.7% and the Nasdaq Composite dove 2%.

In a statement, UPS said that it “follows all applicable laws and administrative orders of the governments in the countries where we do business. We work closely with regulatory authorities to monitor for prohibited substances.”

FedEx also responded: “FedEx already has extensive security measures in place to prevent the use of our networks for illegal purposes. We follow the laws and regulations everywhere we do business and have a long history of close cooperation with authorities.”

Amazon and the Postal Service were not immediately available for comment.

Trump’s tweets followed another missive against Federal Reserve Chairman Jay Powell, who had just pledged to “act as appropriate” to sustain the U.S. economy amid the “deteriorating” global economic outlook.

In an apparent response, Trump tweeted: “Who is our bigger enemy,” Powell or Chinese President Xi Jinping?


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: kevin breuninger
Keywords: news, cnbc, companies, postal, respond, american, companies, powell, trump, orders, immediately, tweets, ups, start, china, looking, president, ordering, hes, alternative


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South Korea is scrapping a security deal with Japan — here’s why it matters

South Korea on Thursday said it will scrap an intelligence sharing agreement with Japan, creating possibly serious consequences for the effective monitoring of North Korea. Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region. One day after the Japanese and Korean foreign ministers met in China to discuss trade and national security, Seoul announced that it isn’t in its “national interests” to maintain the in


South Korea on Thursday said it will scrap an intelligence sharing agreement with Japan, creating possibly serious consequences for the effective monitoring of North Korea. Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region. One day after the Japanese and Korean foreign ministers met in China to discuss trade and national security, Seoul announced that it isn’t in its “national interests” to maintain the in
South Korea is scrapping a security deal with Japan — here’s why it matters Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: grace shao
Keywords: news, cnbc, companies, security, japan, states, deal, united, south, intelligence, korea, trade, important, interests, scrapping, matters, national, heres


South Korea is scrapping a security deal with Japan — here's why it matters

South Korea on Thursday said it will scrap an intelligence sharing agreement with Japan, creating possibly serious consequences for the effective monitoring of North Korea.

Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region. One day after the Japanese and Korean foreign ministers met in China to discuss trade and national security, Seoul announced that it isn’t in its “national interests” to maintain the intelligence pact.

Both the United States and China have stepped in to mediate.

U.S. Secretary of State Mike Pompeo urged the two countries to work out their differences on Thursday, saying “there is no doubt that the shared interests of Japan and South Korea are important, and they’re important to the United States of America. “


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: grace shao
Keywords: news, cnbc, companies, security, japan, states, deal, united, south, intelligence, korea, trade, important, interests, scrapping, matters, national, heres


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