5G broadband is an existential threat to the cable industry, but executives and investors aren’t worried

Goei says both plans are “deeply flawed” as cable broadband alternatives. “In the big cities — New York, Boston, San Francisco — I think 5G broadband will be a threat in a couple of years,” said Kanitkar. In the U.S., “you can have all the spectrum in the world but you’re going to need the help and cooperation of cable companies to roll out the small cells, because it’s the cable companies that have the neighborhood relationships.” “We see partnerships between the mobile and cable companies cont


Goei says both plans are “deeply flawed” as cable broadband alternatives.
“In the big cities — New York, Boston, San Francisco — I think 5G broadband will be a threat in a couple of years,” said Kanitkar.
In the U.S., “you can have all the spectrum in the world but you’re going to need the help and cooperation of cable companies to roll out the small cells, because it’s the cable companies that have the neighborhood relationships.”
“We see partnerships between the mobile and cable companies cont
5G broadband is an existential threat to the cable industry, but executives and investors aren’t worried Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: alex sherman
Keywords: news, cnbc, companies, wireless, arent, investors, cable, threat, verizon, companies, tmobile, product, executives, network, fiber, industry, worried, broadband, existential


5G broadband is an existential threat to the cable industry, but executives and investors aren't worried

T-Mobile US CEO John Legere testifies before a House Committee on Energy and Commerce Subcommittee hearing in Washington, February 13, 2019. Erin Scott | Reuters

For about the last two decades, the cable industry has been fueled by three revenue streams: cable television, landline phones and high-speed broadband. Recently, though, cable’s prized triple play has started to erode. Fewer households need a landline. Millions of Americans are canceling cable TV, a trend poised to accelerate as new streaming products such as Disney+, Apple TV+ and HBO Max hit the market. Add it all up and cable companies are left with only one reliable product — high-speed Internet. Investors don’t appear concerned. Cable internet has high profit margins and growth has been so strong that the two largest U.S. cable companies, Comcast and Charter, are both trading near record highs even as their business is fragmenting. Comcast added 379,000 residential high-speed broadband customers last quarter, its strongest third quarter in a decade. Still, there’s a potential existential threat on the horizon: home broadband from wireless carriers Verizon, AT&T and T-Mobile/Sprint, who are all touting the power of 5G. Those companies are offering lower-priced plans that could save Americans billions of dollars and leave cable providers with nothing. “The cableopoly is scared!” Legere wrote in a T-Mobile blog in February. “They’re scared about 5G, and the New T-Mobile, and finally having to compete.” But talk to cable executives and you’ll find that, like their shareholders, they’re decidedly not scared. While 5G is generating a ton of buzz for its ability to supposedly handle the massive amounts of data coming from artificial intelligence workloads and self-driving cars, the technology has limitations when it comes to replacing cable infrastructure. “As cable operators, we agree 5G technology works, but we don’t believe it’s a real threat to our business,” said Dexter Goei, CEO of cable provider Altice USA, in an interview.

Understanding 5G: Two plans

There are two different 5G-based plans intended to compete with cable for home broadband. One is being championed by Verizon and AT&T and the other by T-Mobile, assuming it’s allowed to merge with Sprint. The important difference between the plans is Verizon and AT&T will sell a separate fixed home broadband service that the companies will likely bundle with their 5G wireless product. T-Mobile’s 5G plan is to promote its wireless service as a home broadband replacement, using the same network of previous unused lowband and midband spectrum. Goei says both plans are “deeply flawed” as cable broadband alternatives. The Verizon/AT&T plan Verizon has already launched its 5G home broadband product in limited areas of Chicago, Los Angeles, Houston, Indianapolis and Sacramento, California, for $50 a month. The service provides speeds between 300 and 840 megabits per second. By comparison, Cox, the third-largest U.S. cable provider, sells its residential 300 Mbps product for $79.99 per month. To get such high speeds, Verizon is using millimeter wave technology that connects with fiber close to the home. While Verizon has some fiber already in the ground, the largest U.S. wireless carrier will have to spend billions of dollars in the coming decade to lay more fiber to offer a competitive 5G home broadband product throughout the country — an endeavor that will be both expensive and time consuming. But Verizon has a market capitalization of $250 billion, giving it plenty of borrowing capacity and a potentially long leash from shareholders. A $50-per-month home broadband product will be a competitive service in urban areas, because Verizon will be able to hit many potential consumers once it lays down fiber, said Vinay Kanitkar, chief technology officer of global carrier strategy at Akamai. He said that Verizon’s offering makes sense in densely populated cities but less so in suburbs and rural areas because millimiter wave technology is not effective at going through thick walls or trees. “In the big cities — New York, Boston, San Francisco — I think 5G broadband will be a threat in a couple of years,” said Kanitkar. “It will be cost effective once Verizon lays fiber.”

But Goei says Verizon and AT&T have a long slog ahead if they want to create a nationwide network that would mimic their mobile footprint. “It would take a decade for a wireless carrier like Verizon to build fiber throughout the country if it had unlimited money,” Goei said. “And it doesn’t have unlimited money.” For Altice, the process of getting up and running in the New York region is indicative of the bureaucratic and political challenges that carriers face that go beyond just the technical limitations. Here’s how Goei describes the struggle: “We are building fiber to home in the New York tri-state area now, in a region where we already have permits and local relationships. From when we announced we were doing that in 2017, it has taken us two years to get up and running before we could connect a single home. That’s purely the permitting process in our backyard. But we were haggling with these communities one by one to lay more fiber. If it takes us two years to get up and running, imagine trying to hit the 50 top markets in the U.S. coming in without the relationships. It’s impossible.” The T-Mobile/Sprint plan T-Mobile hopes its new 5G mobile network can translate into a home broadband replacement product on its own. Legere has promised that if T-Mobile is allowed to merge with Sprint, the combined company will offer average speeds with lowband and midband wireless spectrum of more than 100 Mbps to 66% of American households by 2021 and 90% of Americans by 2024. If it works, Legere estimates the new T-Mobile will save American consumers up to $13 billion a year on home broadband, as one network could be sold for both mobile and in-home use. Legere notes that almost half of American households have no competitive choice for high-speed in-home broadband with speeds of 100 Mbps. In rural areas, more than 75% have no high-speed broadband service or only one option available. Executives from Comcast, Charter, Altice and Cox — the four largest U.S. cable providers — unanimously see Verizon and AT&T’s plan as a more serious long-term threat than T-Mobile’s, according to people familiar with the matter who asked not to be named because they’re not approved to speak on behalf of the companies. Legere’s proposal has technical obstacles, said Kevin Hart, Cox’s chief product and technology officer. A wireless network alone won’t be able to handle the bandwidth demands that come from the use of dozens of connected devices and games like “Fortnite,” he said. “Only a wireline network is going to be able to handle the massive capacity that comes with home broadband,” said Hart. “We view a purely wireless network as complimentary to cable, not as a replacement.” A T-Mobile spokesperson said the company’s 5G network will have “the massive capacity gains and dramatic increases in speed to bring real competition and real choice for in-home broadband to Americans who have been at the mercy of the cable companies for too long.” T-Mobile’s plan isn’t without precedent. European carriers have successfully deployed the same midband/lowband strategy to roll out 5G. But those companies also own a suite of deep fiber because cable and wireless companies have merged in Europe. That type of combination hasn’t happened in the U.S. but it could, said Goei, particularly with a company like T-Mobile, which needs cable expertise. “In the European context, you’re not seeing a wireless vs. fixed competition because the companies are the same,” said Goei. In the U.S., “you can have all the spectrum in the world but you’re going to need the help and cooperation of cable companies to roll out the small cells, because it’s the cable companies that have the neighborhood relationships.” John Chapman, chief technical officer of Cisco’s cable business, said Legere’s claim that T-Mobile will be a true replacement for cable is just “rhetoric.” Instead, it’s more likely that cable companies will continue to push into the mobile market through existing mobile virtual network operator (MVNO) agreements, which allow the operators to offer wireless service to customers and offload some of the data to cable WiFi. Comcast, for example, has about 1.8 million wireless customers today. “The cable guys have landed with a pretty good answer right now because they’re becoming mobile companies,” Chapman said. “We see partnerships between the mobile and cable companies continuing, whether they become part of the same company or not. The cable companies aren’t scared from a competitive point of view.”

Cable’s advantage


Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: alex sherman
Keywords: news, cnbc, companies, wireless, arent, investors, cable, threat, verizon, companies, tmobile, product, executives, network, fiber, industry, worried, broadband, existential


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Hundreds march in Hong Kong against use of tear gas; city braces for further protests

Pro-democracy protesters take part in a Thanksgiving Day rally at Edinburgh Place on November 28, 2019 in Hong Kong. Hundreds of protesters in Hong Kong, including many families with children, marched on Sunday in protest against police use of tear gas as the Asian financial hub geared up for further anti-government demonstrations following a week of calm. Carrying yellow balloons and waving banners that read “No tear gas, save our children”, the protesters streamed through the city’s central bu


Pro-democracy protesters take part in a Thanksgiving Day rally at Edinburgh Place on November 28, 2019 in Hong Kong.
Hundreds of protesters in Hong Kong, including many families with children, marched on Sunday in protest against police use of tear gas as the Asian financial hub geared up for further anti-government demonstrations following a week of calm.
Carrying yellow balloons and waving banners that read “No tear gas, save our children”, the protesters streamed through the city’s central bu
Hundreds march in Hong Kong against use of tear gas; city braces for further protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-01
Keywords: news, cnbc, companies, joined, kong, protests, hong, tear, hundreds, protest, prodemocracy, protesters, braces, children, city, gas, marches


Hundreds march in Hong Kong against use of tear gas; city braces for further protests

Pro-democracy protesters take part in a Thanksgiving Day rally at Edinburgh Place on November 28, 2019 in Hong Kong.

Hundreds of protesters in Hong Kong, including many families with children, marched on Sunday in protest against police use of tear gas as the Asian financial hub geared up for further anti-government demonstrations following a week of calm.

Carrying yellow balloons and waving banners that read “No tear gas, save our children”, the protesters streamed through the city’s central business district towards government headquarters on the main Hong Kong island. Three marches are planned for Sunday and all have been approved by authorities.

On Saturday, secondary school students and retirees joined forces to protest against what they called police brutality and unlawful arrests.

Activists have pledged to maintain the momentum of the movement that has roiled the China-ruled territory for nearly six months.

Holding umbrellas to shield themselves from the sun, many people were seen pushing their children in strollers, while one man with a balloon festooned to his wheelchair also joined the procession.

“We want the police to stop using tear gas,” said a woman surnamed Wong, who was marching with her husband and five year old son.

“It’s not a good way to solve the problem. The government needs to listen to the people. It is ridiculous.”

Police have fired around 10,000 rounds of tear gas since June, the city’s Secretary for Security, John Lee, said this week.

Anti-government protests have rocked the former British colony since June, at times forcing government offices, businesses, schools and even the international airport to shut.

However, there has been relative calm since local elections last Sunday delivered an overwhelming victory to pro-democracy candidates.

Sunday’s marches came as a top Hong Kong official said the government was looking into setting up an independent committee to review the handling of the crisis, in which demonstrations have become increasingly violent.


Company: cnbc, Activity: cnbc, Date: 2019-12-01
Keywords: news, cnbc, companies, joined, kong, protests, hong, tear, hundreds, protest, prodemocracy, protesters, braces, children, city, gas, marches


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Skip the holiday hassle with these festive and frivolous holiday hotel packages

Here are some other holiday hotel adventures to consider this season. Courtesy: Ivy HotelIf you’re a fan of holiday-themed movies, you’ll enjoy these holiday movie-themed hotel packages. Rates start at $184. Rates start at $579. Of course, you don’t need to book a hotel room to enjoy some over-the-top hotel holiday decorations.


Here are some other holiday hotel adventures to consider this season.
Courtesy: Ivy HotelIf you’re a fan of holiday-themed movies, you’ll enjoy these holiday movie-themed hotel packages.
Rates start at $184.
Rates start at $579.
Of course, you don’t need to book a hotel room to enjoy some over-the-top hotel holiday decorations.
Skip the holiday hassle with these festive and frivolous holiday hotel packages Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: harriet baskas
Keywords: news, cnbc, companies, hassle, suite, frivolous, hotel, room, packages, package, house, courtesy, festive, rates, skip, holiday, christmas, start


Skip the holiday hassle with these festive and frivolous holiday hotel packages

Gingerbread house at The Peninsula Paris. Courtesy: The Peninsula Paris

Now that Thanksgiving is over, the marathon of gift shopping and holiday parties kicks in. But the weeks leading up to New Year’s Eve are also a great time to travel. Cities are sparkling with holiday lights. Stores stay open late. And museums, theme parks and other attractions transform into winter wonderlands, with special events and visits from Santa. Many hotels do their part, too, with over-the-top lobby decorations and creative holiday-themed packages.

Gingerbread houses Courtesy: Gaylord National Resort

A chef is whipping up Christmas yule logs and other holiday treats inside a life-size gingerbread house at the Peninsula Paris. More than 2 million holiday lights dazzle in the lobby decorations at the Gaylord National Resort near Washington, D.C. And the Hyatt Regency in Seattle has a package that includes two tickets to Enchant Christmas, boasting the world’s largest Christmas light maze. Here are some other holiday hotel adventures to consider this season.

Holiday-movie inspired stays

National Lampoon room at the Ivy Hotel. Courtesy: Ivy Hotel

If you’re a fan of holiday-themed movies, you’ll enjoy these holiday movie-themed hotel packages. In honor of “National Lampoon’s Christmas Vacation,” first released 30 years ago, Chicago’s Ivy Hotel is offering the National Lampoon Christmas Vacation package, complete with ugly sweaters, a move-inspired suite and a holiday dinner. According to the hotel, “the only thing missing are the surprise RV guests.” Rates start at $399; no resort fees. The Whitehall Hotel, also in Chicago, has a “Home Alone”-themed family package. The guest room comes with two turtle dove ornaments by the same studio that designed them for the film, fresh-baked cookies, a jar of M&Ms and a framed photo of Buzz’s girlfriend. Room service will also send up a “Little Nero’s Pizza” served in the same box as the movie, mac ‘n cheese, Pepsi and an ice cream sundae. Available through Jan. 5. Rates start at $184. In Cleveland, guests can book overnight stays at “A Christmas Story” house, the location of the cult holiday classic starring Ralphie (of you’ll-shoot-your-eye-out fame) and his little brother Randy. The Bumpus house next door, home to the infamous pack of hounds, is available for rent as well. Holiday rates at A Christmas Story House start at $845 per night; rates for the Hound Dog Haven Suite and the Stolen Turkey Suite in the Bumpus house start at $245 and $295, respectively.

Room with a tree

Holiday tree at the Refinery hotel. Courtesy: Refinery hotel

In New York City, the Refinery Hotel’s Winter Spectacular Stay package includes a fresh Christmas tree and an assortment of decorations, hot chocolate, holiday cookies and other edible holiday treats as well as a gingerbread house decorating kit. Rates start at $579. During December, kids checking in with their families will be able to pick a treat from Santa’s gift-filled sleigh and all hotel guests can partake of the complimentary hot chocolate and cider cart.

Hanukkah, an igloo and a history lesson

Igloo at the Watergate Hotel. Courtesy: Watergate Hotel

The Watergate Hotel, famous for a 1972 break-in and the political unraveling it initiated, is offering a three- or eight-night Hanukkah package; from $1,450 and $3,029, respectively, not including taxes and urban resort fees. Available Dec. 22-Dec. 30. Each package includes two connecting rooms, a bottle of kosher olive oil and, for kids, dreidels, Hanukkah gelt (kosher nut-free chocolate coins), and a book about Hanukkah. Private car service to and from the National Zoo or National Mall is also included. For those who want to mix history, whiskey and dinner in an igloo, the Tzell Travel Group has put together a $3,000 per night package that includes a stay in the room used for the Watergate break-in (Room 204), drinks with the officers from the Metropolitan Police Department of the District of Columbia who discovered the break-in and dinner in a decked-out Christmas igloo. (More details at 212-624-2997 or RKunikoff@Tzell.com)

Stay in the city or go skiing?

Penthouse Suite at Kimpton Nine Zero. Courtesy: Kimpton Nine Zero

Can’t decide if you want to stay in the city or go skiing? Two Kimpton Hotels in New England have buddied up with a package that offers both, with a bonus helicopter ride. The Skyscrapers to Slopes Package is for two guests and includes a two-night city stay at Nine Zero’s penthouse suite in Boston, a two-night winter wonderland experience in a cottage suite at the Kimpton Taconic Hotel in Manchester, Vermont and a private helicopter ride between the two locations. Ski passes to Stratton Mountain, a private in-room yoga session and two 60-minute in-room massages are included, as are a personalized cocktail experience, Vermont cheeses, a fire pit experience with s’mores and hot cocoa, breakfasts and dinners. Available through March 31, 2020. Rates start at $14,500; resort fees included.

Of course, you don’t need to book a hotel room to enjoy some over-the-top hotel holiday decorations.

Gingerbread house at The Peninsula Paris. Courtesy: Maggie Marguerite Studio and The Well Traveled Trunk.

The Well Traveled Trunk has installed a “sustainable” Christmas tree made of vintage Louis Vuitton trunks in the lobby of the Sofitel New York. Pastry chefs at the Willard InterContinental Hotel in Washington, D.C., have created an eight-foot-tall gingerbread version of the Jefferson Memorial, complete with cherry blossom trees and real fish in the water representing the Tidal Basin.

Lego dino at the Savoy London. Courtesy: Savoy London


Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: harriet baskas
Keywords: news, cnbc, companies, hassle, suite, frivolous, hotel, room, packages, package, house, courtesy, festive, rates, skip, holiday, christmas, start


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Traveling on a budget? Here are the world’s cheapest, and costliest, cities to visit

Booking an urban adventure packed with excitement, entertainment and cultural engagement doesn’t have to bust your budget, according to U.K.-based Starling Bank. Todd Brown | The Image Bank | Getty Images1. Delhi, India A day spent touring the capital territory of India will only cost you $35.56. Free attractions include the Batu Caves, one of the most popular Hindu shrines to be found outside India, and the Bukit Bintang shopping and entertainment district. The cheapest dinners and drinks, on a


Booking an urban adventure packed with excitement, entertainment and cultural engagement doesn’t have to bust your budget, according to U.K.-based Starling Bank.
Todd Brown | The Image Bank | Getty Images1.
Delhi, India A day spent touring the capital territory of India will only cost you $35.56.
Free attractions include the Batu Caves, one of the most popular Hindu shrines to be found outside India, and the Bukit Bintang shopping and entertainment district.
The cheapest dinners and drinks, on a
Traveling on a budget? Here are the world’s cheapest, and costliest, cities to visit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: kenneth kiesnoski
Keywords: news, cnbc, companies, worlds, traveling, starling, capital, cheapest, cities, day, world, attractions, budget, getty, free, average, india, visit, bank, costliest


Traveling on a budget? Here are the world's cheapest, and costliest, cities to visit

Virojt Changyencham | Moment | Getty Images

Dreaming of a big city escape somewhere around the world, yet dreading a big credit-card bill when you get home? Booking an urban adventure packed with excitement, entertainment and cultural engagement doesn’t have to bust your budget, according to U.K.-based Starling Bank. The firm analyzed 35 cities worldwide, comparing metrics such as hotel, food, public transit and attractions prices, to determine an average daily cost to visitors. It also developed a calculator to help visitors to see how far 100 British pounds (about $129) a day will get them around the world. The tool can be sampled here. Three of the top five spots for affordability turned out to be in Asia. The least affordable destinations were in North America (four of them) or Europe (one).

Head to Asia for deals

The Jama Masjid in New Delhi dates to the mid-17th century. Todd Brown | The Image Bank | Getty Images

1. Delhi, India A day spent touring the capital territory of India will only cost you $35.56. Top sights? The India Gate military memorial and 17th century Jama Masjid mosque in New Delhi are both free to the public. The tab for a three-course Indian meal? Figure about $8.61. A round-trip ride on public transit costs 89 cents, and the average attraction entry ticket runs about $4, Starling found. 2. Cairo, Egypt With daily costs of just $36.82, Cairo will leave you “feeling like a pharaoh,” according to Starling. Hotel rooms in Egypt’s capital can be had for $18.17 a night, on average, while the check for a “luxury” meal might only add up to $8.59. Entrance to the pyramid complex at Giza costs about $9, with added fees for actual pyramid access. A bus ride there and back from the city center? About 60 cents total. 3. Istanbul, Turkey Bridging Europe and Asia, history-steeped Istanbul can be yours for just $44.74 a day. Views of the Blue Mosque and Hagia Sophia are free, as is strolling the Grand Bazaar, where you can pick up treasures and treats for a song. (Turkish delight, anyone?) Wind down by watching whirling dervishes, simmering in a Turkish bath or ferrying across the Bosphorus Strait. Fill up on kebabs and baklava at about $16 a meal. More from Personal Finance:

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How to pick the best travel rewards credit card

This app makes clearing customs a breeze 4. Kuala Lumpur, Malaysia Malaysia’s capital is popular with backpackers for a reason. Stays can total just $50.80 day if you pinch your pennies. Free attractions include the Batu Caves, one of the most popular Hindu shrines to be found outside India, and the Bukit Bintang shopping and entertainment district. Dinner or lunch will run you about $11 a pop. 5. Beijing, China It’ll set you back just $52.64 a day to explore the capital of the People’s Republic of China. Top attractions in Beijing cost just about $8 on average and there’s plenty to see and do. Scale the Great Wall of China, wander Tiananmen Square or inspect the recesses of the Forbidden City without breaking the bank. Metro fares are about 50 cents for travel within an 8-mile radius. And then there’s all that Chinese food …

Eat, see on the cheap

El Camino Street in the La Boca district of Buenos Aires. Buena Vista Images | The Image Bank | Getty Images

The three world cities where the generally agreed-upon top attractions are free or the least expensive are, according to Starling, Sydney, Australia; Santiago, Chile; and Buenos Aires, Argentina. Down Under, the Sydney Harbour Bridge and Bondi Beach can both be accessed free of charge. Santiago’s views of the surrounding Andes Mountains are free, as are strolls through Plaza de Armas square and climbs up San Cristobal and Santa Lucia hills. In Buenos Aires, tango your way through the streets of the colorful La Boca district or explore the alternately creepy and stunning confines of La Recoleta Cemetery — all for nothing. The cheapest dinners and drinks, on average, to be found in the cities surveyed can be found in Bangkok. A local dish — be it tom yum goong (shrimp soup) or khao pad (fried rice) — plus a bottle of water will set you back only $2.25 in the capital of Thailand, Starling found.

Budget busters

Busakorn Pongparnit | Moment | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: kenneth kiesnoski
Keywords: news, cnbc, companies, worlds, traveling, starling, capital, cheapest, cities, day, world, attractions, budget, getty, free, average, india, visit, bank, costliest


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This is where the Dow would be this year without Apple and Microsoft

Apple and Microsoft are leading the record market rally in 2019. The two have amassed a collective $819 billion in market cap this year, leading the Dow Jones Industrial Average to all-time highs. If those gains were stripped from the Dow, the blue-chip index would be nearly 1,100 points lower than its current level, according to data compiled by CNBC last week. “Apple has also cleared its resistance from a 2018 peak so we have a rising trend, no signs of topping out.” While Apple and Microsoft


Apple and Microsoft are leading the record market rally in 2019.
The two have amassed a collective $819 billion in market cap this year, leading the Dow Jones Industrial Average to all-time highs.
If those gains were stripped from the Dow, the blue-chip index would be nearly 1,100 points lower than its current level, according to data compiled by CNBC last week.
“Apple has also cleared its resistance from a 2018 peak so we have a rising trend, no signs of topping out.”
While Apple and Microsoft
This is where the Dow would be this year without Apple and Microsoft Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: keris lahiff
Keywords: news, cnbc, companies, dow, apple, theyre, sector, microsoft, market, rising, relative, wald, technology, leading, think


This is where the Dow would be this year without Apple and Microsoft

Apple and Microsoft are leading the record market rally in 2019.

The two have amassed a collective $819 billion in market cap this year, leading the Dow Jones Industrial Average to all-time highs.

If those gains were stripped from the Dow, the blue-chip index would be nearly 1,100 points lower than its current level, according to data compiled by CNBC last week.

Ari Wald, head of technical analysis at Oppenheimer, is betting on both to continue to outperform the market.

“We do think they can continue and we really don’t have a preference between the two,” Wald said on CNBC’s “Trading Nation” on Monday. “We do see these top-down tailwinds from both a rising market — we think the bull market continues into 2020 — and I think you got support from a relatively strong technology sector as well.”

In Apple, for example, “we see this recent move higher as a breakout versus the market dating back to 2012 — a six- to seven-year relative breakout that portends to additional leadership,” said Wald. “Apple has also cleared its resistance from a 2018 peak so we have a rising trend, no signs of topping out.”

Michael Bapis, managing director at Rockefeller Capital Management, says these stocks are buys for the long haul.

“Technology is just booming right now. I think we’re in about a 30- to 50-year technology boom period that we’ll never see in the next 500 years so let’s take those two companies which are very, very positive on growing earnings and margins, and I like that they’re leading not only the technology industry but they’re leading the market,” Bapis said during the same segment.

While Apple and Microsoft have added 70% and 49% this year, respectively, the XLK technology ETF has gained 42%. Tech is the best-performing S&P 500 sector this year.

“I would go with both of them with the momentum. They are getting a little expensive relative to earnings, but I think their growth will be outpacing that expensiveness over the next stage,” said Bapis.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: keris lahiff
Keywords: news, cnbc, companies, dow, apple, theyre, sector, microsoft, market, rising, relative, wald, technology, leading, think


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The 10 best US states for the middle class to find jobs and buy homes

In many places across the U.S., the middle class is struggling. Personal finance website SmartAsset determined the best states for the middle class, which it defined as households earning an annual income between $35,000 and $100,000 — approximately two-thirds to two times the median national income. For each state, the report took into account the percentage of middle class households, median household income adjusted for the cost of living, median home values, homeownership rates and middle cl


In many places across the U.S., the middle class is struggling.
Personal finance website SmartAsset determined the best states for the middle class, which it defined as households earning an annual income between $35,000 and $100,000 — approximately two-thirds to two times the median national income.
For each state, the report took into account the percentage of middle class households, median household income adjusted for the cost of living, median home values, homeownership rates and middle cl
The 10 best US states for the middle class to find jobs and buy homes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: emmie martin
Keywords: news, cnbc, companies, states, smartasset, middle, class, median, buy, cost, living, jobs, homes, income, best


The 10 best US states for the middle class to find jobs and buy homes

In many places across the U.S., the middle class is struggling. But in others, it’s thriving.

Personal finance website SmartAsset determined the best states for the middle class, which it defined as households earning an annual income between $35,000 and $100,000 — approximately two-thirds to two times the median national income. For each state, the report took into account the percentage of middle class households, median household income adjusted for the cost of living, median home values, homeownership rates and middle class job growth between 2014 and 2018, among other factors.

The site used data from the U.S. Census Bureau’s 2018 1-year American Community Survey, the U.S. Bureau of Economic Analysis and the Bureau of Labor Statistics.

Unsurprisingly, the majority of the best states for the middle class are located in the midwest, which is consistently recognized for its relatively low cost of living. States like Wisconsin and Ohio (which is number 13 on the list) have also seen the revitalization of major cities in recent years, attracting residents looking for jobs and affordable real estate.

Here’s a look at the 10 best U.S. states for the middle class, where they’re able to find jobs, own homes and keep up with the overall cost of living, according to SmartAsset.


Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: emmie martin
Keywords: news, cnbc, companies, states, smartasset, middle, class, median, buy, cost, living, jobs, homes, income, best


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Couple paid $100 for abandoned car they found in a storage unit—Elon Musk bought it from them for nearly $1 million

Photographer: Bronte Wittpenn/Bloomberg via Getty ImagesIn 1989, a couple from Long Island, New York paid roughly $100 for an unclaimed storage unit. Actors Barbara Bach and Roger Moore, stars of the James Bond film “The Spy Who Loved Me,” sit on the 1976 Lotus Esprit. But after they loaded the car onto a truck and set off for home, truckers contacted them via CB radio to let them know they were hauling a James Bond car, according to Redenius. National Motor Museum | Heritage Images | Getty Imag


Photographer: Bronte Wittpenn/Bloomberg via Getty ImagesIn 1989, a couple from Long Island, New York paid roughly $100 for an unclaimed storage unit.
Actors Barbara Bach and Roger Moore, stars of the James Bond film “The Spy Who Loved Me,” sit on the 1976 Lotus Esprit.
But after they loaded the car onto a truck and set off for home, truckers contacted them via CB radio to let them know they were hauling a James Bond car, according to Redenius.
National Motor Museum | Heritage Images | Getty Imag
Couple paid $100 for abandoned car they found in a storage unit—Elon Musk bought it from them for nearly $1 million Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: tom huddleston jr
Keywords: news, cnbc, companies, abandoned, storage, paid, couple, bond, underwater, lotus, car, million, james, movie, musk, used, unitelon, nearly, bought, submarine


Couple paid $100 for abandoned car they found in a storage unit—Elon Musk bought it from them for nearly $1 million

Elon Musk, chief executive officer of Space Exploration Technologies Corp. (SpaceX) and Tesla Inc., speaks during an event at the SpaceX launch facility in Cameron County, Texas, U.S., on Saturday, Sept. 28, 2019. Musk gave space fans an update Saturday evening on the status of “Starship,” the next-generation vehicle his SpaceX plans to use to eventually take humans to Mars. Photographer: Bronte Wittpenn/Bloomberg via Getty Images

In 1989, a couple from Long Island, New York paid roughly $100 for an unclaimed storage unit. It was a blind auction, meaning neither they nor the seller had any idea what was inside. When the couple opened the unit, they were in for what would likely be the surprise of their lives: Buried under some old blankets sat a 1976 Lotus Esprit sports car used in the filming of the 1977 James Bond film “The Spy Who Loved Me.” In the movie, the sports car famously transforms into a submarine and fires missiles while underwater. Years later, none other than Elon Musk bought their find for nearly $1 million.

They’d never seen a Bond film

The sports car — one of eight used in the filming of the Roger Moore Bond movie, but the only one that operated in underwater scenes — had been put in the storage unit after filming and remained there, forgotten for more than a decade until the New York couple (who have remained anonymous) came along. At first, “they really didn’t know what it was,” Doug Redenius, co-founder of the Ian Fleming Foundation, which authenticated the car, told NBC News in 2013 of the couple, who ran a business renting construction tools. They had never even seen a Bond film. “They had no idea how valuable their discovery was.”

Actors Barbara Bach and Roger Moore, stars of the James Bond film “The Spy Who Loved Me,” sit on the 1976 Lotus Esprit. Fox Photos/Hulton Archive/Getty Images

The husband had planned on fixing the sports car’s dented roof and making other improvements. But after they loaded the car onto a truck and set off for home, truckers contacted them via CB radio to let them know they were hauling a James Bond car, according to Redenius. The husband later “went out and rented the movie on VHS and saw what he had,” Redenius told NBC.

Snapped up by Musk

After the couple “cosmetically restored” the vehicle, they displayed it in occasional exhibits over the next two decades before deciding to put it up for auction in 2013. Redenius added in the 2013 interview that he had heard about the car’s existence years after the couple started exhibiting it, and he sought them out. He authenticated the car with the original builders and put the couple in touch with RM Sotheby’s, telling the couple before the auction that “‘if [the car] sells for what we’re hoping, that money will give you an opportunity to live very comfortably for the rest of your life.'” Enter Elon Musk. The Lotus sold at auction at RM Sotheby’s in 2013 to a secret buyer. It was later revealed that the new owner was Musk, and he reportedly paid $997,000 for the car.

National Motor Museum | Heritage Images | Getty Images

Musk said he’d grown up watching the Bond movie. “It was amazing as a little kid in South Africa to watch James Bond in ‘The Spy Who Loved Me’ drive his Lotus Esprit off a pier, press a button and have it transform into a submarine underwater. “I was disappointed to learn that it can’t actually transform. What I’m going to do is upgrade it with a Tesla electric powertrain and try to make it transform for real,” Musk told the auto blog Jalopnik in a statement in 2013. To originally equip the Lotus for the movie, a marine engineering firm converted it into a functional submarine at a cost of more than $100,000 (the equivalent of nearly $425,000 today). Nicknamed “Wet Willie,” the car was used for underwater scenes, so when it sold in 2013 it had no wheels, only “articulated fins.” It also couldn’t drive on land, but it did actually work as a submarine, with ballast tanks to make diving possible. The car also featured “a bank of four propellers” in the back of the vehicle that let it move underwater while being powered by electric motors in a water-tight compartment.

The 1976 Lotus Esprit, known as “Wet Nellie,” that was used in the James Bond film “The Spy Who Loved Me.” Leon Neal | AFP via Getty Images

During filming, the underwater scenes were performed by a retired U.S. Navy SEAL wearing full scuba gear with an oxygen tank, as the car’s interior was filled with water, according to Sotheby’s. Recently, Musk said that the car served as part of the inspiration for Tesla’s new Cybertruck.


Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: tom huddleston jr
Keywords: news, cnbc, companies, abandoned, storage, paid, couple, bond, underwater, lotus, car, million, james, movie, musk, used, unitelon, nearly, bought, submarine


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China will maintain ‘normal’ monetary policy as long as possible, says its central bank

A pedestrian walks past the People’s Bank of China (PBOC) headquarters on August 6, 2019 in Beijing, China. China’s central bank governor said on Sunday that the country should maintain “normal” monetary policy as long as possible since economic growth is still within a reasonable range and inflation is mild overall. The exchange rate of China’s yuan is decided by the markets’ supply and demand, it will not resort to competitive devaluation of the yuan, Yi Gang wrote in an article published by t


A pedestrian walks past the People’s Bank of China (PBOC) headquarters on August 6, 2019 in Beijing, China.
China’s central bank governor said on Sunday that the country should maintain “normal” monetary policy as long as possible since economic growth is still within a reasonable range and inflation is mild overall.
The exchange rate of China’s yuan is decided by the markets’ supply and demand, it will not resort to competitive devaluation of the yuan, Yi Gang wrote in an article published by t
China will maintain ‘normal’ monetary policy as long as possible, says its central bank Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-01
Keywords: news, cnbc, companies, normal, central, markets, china, walks, maintain, policy, monetary, yuan, long, wrote, possible, bank, theoretical, supply


China will maintain 'normal' monetary policy as long as possible, says its central bank

A pedestrian walks past the People’s Bank of China (PBOC) headquarters on August 6, 2019 in Beijing, China.

China’s central bank governor said on Sunday that the country should maintain “normal” monetary policy as long as possible since economic growth is still within a reasonable range and inflation is mild overall.

The exchange rate of China’s yuan is decided by the markets’ supply and demand, it will not resort to competitive devaluation of the yuan, Yi Gang wrote in an article published by the leading Communist Party theoretical journal Qiushi.

China’s central bank will continue to promote reform of the yuan, and keep it basically stable on a reasonably balanced level, Yi said.

Yi also said China will strengthen the supervision of property financing markets.


Company: cnbc, Activity: cnbc, Date: 2019-12-01
Keywords: news, cnbc, companies, normal, central, markets, china, walks, maintain, policy, monetary, yuan, long, wrote, possible, bank, theoretical, supply


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Doctors and techies are clashing at digital health companies, and one start-up exec is seeking a fix

Digital health companies pulled in more than $8 billion in venture capital in 2018 to bring new technology to the health-care industry. Doctors working with men’s health companies like Hims have raised concerns that they didn’t have enough of a voice. Sherry Pagoto, a behavioral scientist who has previously consulted with digital health companies like Fitbit, said she’s heard this sort of feedback from others in her field. “I’ve yet to talk to a happy health-care person in digital health since I


Digital health companies pulled in more than $8 billion in venture capital in 2018 to bring new technology to the health-care industry.
Doctors working with men’s health companies like Hims have raised concerns that they didn’t have enough of a voice.
Sherry Pagoto, a behavioral scientist who has previously consulted with digital health companies like Fitbit, said she’s heard this sort of feedback from others in her field.
“I’ve yet to talk to a happy health-care person in digital health since I
Doctors and techies are clashing at digital health companies, and one start-up exec is seeking a fix Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: christina farr
Keywords: news, cnbc, companies, jasik, medical, exec, work, digital, clashing, techies, company, product, health, omada, seeking, doctors, companies, startup, fix


Doctors and techies are clashing at digital health companies, and one start-up exec is seeking a fix

Omada Health’s product and clinical heads discussing ideas. Omada Health

When Carolyn Jasik recruits doctors to work at Omada Health, where she’s the chief medical officer, she has product developers vet the top candidates to make sure they’re the right fit. Jasik, a trained physician, has seen numerous well-funded companies in digital health struggle, in part because the technologists and medical experts too often sit on opposites sides of the house, make discrete decisions and rarely communicate. At Omada, which develops digital programs for people with chronic ailments and sells them to insurers, health systems and large employers, Jasik goes out of her way to bridge the gap. Clinicians who join are given an onboarding document with a list of 10 tips for working with product teams, including “insist on outcomes” for patients, “get alignment” so there aren’t conflicting medical perspectives in meetings and “ask lots of questions.” The company just embedded a clinical expert on the research and development team, called “disco,” and a medical representative attends every product meeting. Jasik said she’s never hired anyone who gotten a single “no” from the product side. “As clinicians, we go through a ton of training to be able to make decisions,” Jasik said, in a recent interview at Omada’s San Francisco office. “But in industry, it’s different. It’s a partnership. You don’t get to just make the call. And that’s a big culture shock for a lot of us.” Jasik doesn’t have a precise template for success, but she knows a lot is riding on her industry’s progress. Digital health companies pulled in more than $8 billion in venture capital in 2018 to bring new technology to the health-care industry. They’re just starting to see some market validation, with Livongo Health, an Omada competitor, going public and PillPack and Flatiron Health selling for healthy sums. In recent years, the missteps have gotten more publicity. Even beyond the notorious collapse of Theranos, former medical hires have spoken out about problematic behavior at companies like Nurx, which sells birth control, and uBiome, which offered health tests before suspending operations and then closing down this year. Doctors working with men’s health companies like Hims have raised concerns that they didn’t have enough of a voice.

It’s not just a problem at start-ups. Apple is facing internal strife and has lost talent in its health efforts as it attempts to move deeper into the $3.5 trillion medical industry. “So many companies are quietly struggling with how to match these two cultures in their workplace,” said Ruby Gadelrab, a marketing executive who previously worked at 23andMe and co-founded a health-tech consulting firm this year. Gadelrab says that Silicon Valley entrepreneurs and engineers are used to the hustle of high-growth start-ups, which is completely at odds with the deliberate approach preferred by doctors, who go through a decade or more of rigorous education and take the oath, “first, do no harm.” As Nurx’s medical director, Jessica Knox, told the New York Times, start-ups have a “mentality of ‘don’t ask for permission — ask for forgiveness later.'” CNBC spoke with more than a dozen current and former employees from companies, ranging from large tech firms to early-stage digital health start-ups, about the complications they’ve witnessed and experienced when techies and clinicians collide. Most of the interviewees asked for anonymity due to nondisclosure agreements or because they weren’t authorized to speak on behalf of their companies. While their stories vary, it’s clear that Omada is the exception to the rule, and much of the industry has a lot of catching up to do.

The medical perspective

One San Francisco-based physician recalled the excitement he felt when he first showed up to work in 2018 at a diagnostic testing start-up. The company seemed to be growing quickly and was backed by tens of millions of dollars in venture capital. But during his first month on the job, he saw behavior that would surely raise questions if regulators were aware of it. The company used doctors from a staffing agency to prescribe tests to patients. Those doctors appeared to be liberally issuing prescriptions, without doing thorough reviews, out of concern that the agency would lose its contract with the company if it was perceived to be limiting business. After bringing up the issue with management, the “CEO flipped out,” the physician said, and accused him of not being a team player. He was subsequently put on a performance improvement plan. “I stayed away from the regulatory issues after that,” and then left the company a year later, the physician said. At another digital health company, a behavioral scientist had been trying for months to inform leadership that an app nudging users to take medications wouldn’t work for a large group of people, including those with mental health issues. Despite having research to back up her claims, she said that company executives were dismissive of her warnings. “I feel like I’m the least popular person at my company because I’m perceived as trying to slow people down with my science,” she said. “It’s really an uphill battle.” Sherry Pagoto, a behavioral scientist who has previously consulted with digital health companies like Fitbit, said she’s heard this sort of feedback from others in her field. One particular challenge, she said, is that there’s been a wave of books from non-medical authors that delve into pop science and dietary strategies. “People in the tech world will read one of these books, or they’ll hear a story about someone losing weight or eating better, and think they are an expert,” said Pagoto, a professor at the University of Connecticut. Jill Hagenkord, another doctor who’s worked in the health-tech industry, said she hears anecdotes like this all the time. Hagenkord co-founded consulting firm MDisrupt with Gadelrab earlier this year to help companies avoid Theranos-like mistakes. “I’ve yet to talk to a happy health-care person in digital health since I started having these conversations,” she said. “After we talk, I think it’s a relief to realize that it’s not just them.”

‘Token hire’

A common sentiment that Hagenkord said she hears from doctors and other medical experts is that they feel like a “token hire,” and frequently are brought in far too late rather than when companies are developing their products. They get trotted out to meet customers and put on stage at conferences to talk about the company’s commitment to clinical evidence, but internally they see chaos and mismanagement. The problems cut both ways. Doctors often join tech companies after working at hospital systems that can be very hierarchical, a sharp contrast to Silicon Valley, where work environments are more open and projects tend to be consensus-driven. In interviews with technical employees at health-tech companies, CNBC learned of several instances where medical personnel were given high-level positions on the backs of their credentials but without a sense of how to work in a collaborative system. “I’ve worked with many ‘key opinion leader’ type doctors over the years,” said one person who’s worked in product development at several digital health companies. “They have strong opinions, which are often totally black and white, and they are used to people just listening.” Stephanie Tilenius, a former executive at Google and eBay who’s now CEO of digital health company Vida Health, says that medical experts and technologists have to learn how to coalesce around a common language. She acknowledges that she’s gotten negative feedback from clinicians for emphasizing the importance of “obsessively delighting” customers, which is familiar vernacular in Silicon Valley but can be off-putting in medical scenarios.


Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: christina farr
Keywords: news, cnbc, companies, jasik, medical, exec, work, digital, clashing, techies, company, product, health, omada, seeking, doctors, companies, startup, fix


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Amazon, Apple, Facebook and Google are investing in the affordable housing crisis they helped create

Google has pledged $1 billion to help stop the housing crisis. In the Seattle area, Microsoft is chipping in $500 million, while its neighbor Amazon has opened a homeless shelter on its downtown campus. The affordable housing crisis in the Bay Area and Seattle is changing the landscape and makeup of the communities that fostered the tech boom. Apple, Google, Facebook and Amazon have stepped up to provide support, but time will tell if it’s just good publicity or will actually lead to real soluti


Google has pledged $1 billion to help stop the housing crisis.
In the Seattle area, Microsoft is chipping in $500 million, while its neighbor Amazon has opened a homeless shelter on its downtown campus.
The affordable housing crisis in the Bay Area and Seattle is changing the landscape and makeup of the communities that fostered the tech boom.
Apple, Google, Facebook and Amazon have stepped up to provide support, but time will tell if it’s just good publicity or will actually lead to real soluti
Amazon, Apple, Facebook and Google are investing in the affordable housing crisis they helped create Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: dain evans
Keywords: news, cnbc, companies, bay, individuals, area, seattle, amazon, affordable, investing, create, housing, san, tech, google, facebook, helped, apple, crisis


Amazon, Apple, Facebook and Google are investing in the affordable housing crisis they helped create

Affordable housing has become a crisis on the West Coast, due in large part to the expansion of the tech industry. Recently, the tech giants that helped create the problem have pledged money and support to seek fixes in their communities, but there’s plenty of reason for skepticism.

Liz González, a contributor at Silicon Valley De-Bug, voiced her concerns about the expansion of Google into San Jose.

“We’re being ignored,” she told CNBC. “We’re being displaced, and folks who have no long term interests in this community get to decide what it looks like and who gets to live here.”

Google has pledged $1 billion to help stop the housing crisis. Facebook helped create the Partnership for the Bay’s Future, which will gather $500 million for the cause. Apple is committing $2.5 billion. In the Seattle area, Microsoft is chipping in $500 million, while its neighbor Amazon has opened a homeless shelter on its downtown campus. Amazon also says it’s contributed $38 billion to Seattle’s economy since 2010.

Is it all too little, too late?

The Bay Area, which includes San Francisco and San Jose, has the third largest population of people experiencing homelessness in the U.S., behind New York and Los Angeles, and just ahead of Seattle. In the Bay Area, 64% of those individuals are unsheltered. In the Seattle region, that number is 47%.

Between 2010 and 2018, the Bay Area’s population increased 8.4% while the number of housing units rose by less than 5%. Housing prices shot up, reflecting the region’s demographics. Software engineers earn a starting salary of about $160,000 at Apple, Google and Facebook, 40% more than the national average for the same job, according to data from Indeed and Glassdoor. Rents in the Bay Area jumped 21% from 2010 to 2017 when adjusted for inflation. Over that same time stretch, rents in New York rose 9%.

“It kind of feels like they’re pushing you out of your home,” said Tamara Mitchell, a volunteer at the Coalition on Homelessness in San Francisco who has experienced homelessness due to the lack of affordable housing in the area.

The lack of diversity is stark. Tech companies are disproportionately hiring white and Asian male-identified individuals for tech jobs, leaving lower-wage jobs for mostly blacks and Latinx individuals.

For U.S.-based tech-related jobs in 2018, Google employed 95% white or Asian individuals and 74% male-identified individuals. At Apple those figures were 84% and 77%, respectively, and at Facebook the numbers were 93% and 78%. However, according to estimated data from the Census Bureau in 2018, the Bay Area is home to 67% white or Asian individuals.

The affordable housing crisis in the Bay Area and Seattle is changing the landscape and makeup of the communities that fostered the tech boom. Apple, Google, Facebook and Amazon have stepped up to provide support, but time will tell if it’s just good publicity or will actually lead to real solutions. Many West Coast communities are calling out for help as they tackle this emergency caused by companies in their own backyards.

Watch CNBC’s in-depth video on the affordable housing crisis.


Company: cnbc, Activity: cnbc, Date: 2019-12-01  Authors: dain evans
Keywords: news, cnbc, companies, bay, individuals, area, seattle, amazon, affordable, investing, create, housing, san, tech, google, facebook, helped, apple, crisis


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