Herman Cain withdraws from consideration for Fed board, Trump says

CNBC survey: Majority say Cain and Moore shouldn’t be confirmed to the Federal Reserve Board 12:29 PM ET Mon, 8 April 2019 | 04:07More importantly, Cain, like Trump, is an outspoken critic of the Federal Reserve, which Cain has accused in the past of “manipulating” the value of the U.S. dollar. In recent weeks, several White House officials expressed what could only be described as tepid support for Cain. There are also concerns among lawmakers and on Wall Street about Trump’s other contentious


CNBC survey: Majority say Cain and Moore shouldn’t be confirmed to the Federal Reserve Board 12:29 PM ET Mon, 8 April 2019 | 04:07More importantly, Cain, like Trump, is an outspoken critic of the Federal Reserve, which Cain has accused in the past of “manipulating” the value of the U.S. dollar. In recent weeks, several White House officials expressed what could only be described as tepid support for Cain. There are also concerns among lawmakers and on Wall Street about Trump’s other contentious
Herman Cain withdraws from consideration for Fed board, Trump says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: christina wilkie, tucker higgins, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, trump, fed, cain, herman, board, woman, campaign, consideration, sexual, vote, moore, white, withdraws, accused


Herman Cain withdraws from consideration for Fed board, Trump says

CNBC survey: Majority say Cain and Moore shouldn’t be confirmed to the Federal Reserve Board 12:29 PM ET Mon, 8 April 2019 | 04:07

More importantly, Cain, like Trump, is an outspoken critic of the Federal Reserve, which Cain has accused in the past of “manipulating” the value of the U.S. dollar.

In addition to having repeatedly criticized the central bank, Cain has also weathered a series of scandals that first came to light during his 2012 presidential campaign but which would unquestionably have come up again in a Senate confirmation hearing.

In late 2011, Cain suspended his presidential campaign after it emerged that three women had accused him of workplace sexual harassment, a fourth woman accused him of sexual assault, and a fifth woman came forward to allege that she and Cain had carried out a 13-year-long extramarital affair. Cain has denied all the allegations.

The prospect of revisiting the allegations during a heated Senate confirmation hearing and having to publicly defend Cain likely held little appeal for the White House.

In recent weeks, several White House officials expressed what could only be described as tepid support for Cain. Larry Kudlow, the director of the National Economic Council, said this month that Cain was “in the vetting process, we will see how that turns out.”

There are also concerns among lawmakers and on Wall Street about Trump’s other contentious pick for the Fed board, conservative political activist and economics writer Stephen Moore.

It is unclear whether Republican senators will vote against Moore, who has had to contend with claims that he is unqualified for the Fed role as well as revelations about his messy divorce. Moore advised Trump during his 2016 campaign and co-authored a 2018 book called “Trumponomics: Inside the America First Plan to Revive Our Economy.”

WATCH: 4th GOP senator plans to vote against Cain for Fed


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: christina wilkie, tucker higgins, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, trump, fed, cain, herman, board, woman, campaign, consideration, sexual, vote, moore, white, withdraws, accused


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Huawei says its first-quarter revenue jumped 39% despite political pressure

Huawei reported a 39 percent year-on-year increase in first-quarter revenue on Monday as it continues to see growth despite continued political pressure. The Chinese networking equipment maker said revenue totaled 179.7 billion yuan ($26.8 billion) for the first three months of 2019. Huawei said in a press release that 2019 “will be a year of large-scale deployment of 5G around the world” and its carrier business “has unprecedented opportunities for growth.” By the end of March, Huawei had signe


Huawei reported a 39 percent year-on-year increase in first-quarter revenue on Monday as it continues to see growth despite continued political pressure. The Chinese networking equipment maker said revenue totaled 179.7 billion yuan ($26.8 billion) for the first three months of 2019. Huawei said in a press release that 2019 “will be a year of large-scale deployment of 5G around the world” and its carrier business “has unprecedented opportunities for growth.” By the end of March, Huawei had signe
Huawei says its first-quarter revenue jumped 39% despite political pressure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: arjun kharpal, lluis gene, afp, getty images
Keywords: news, cnbc, companies, 2019, jumped, billion, political, firstquarter, yearonyear, despite, pressure, unprecedented, yuan, growth, revenue, 5g, 39, huawei, world


Huawei says its first-quarter revenue jumped 39% despite political pressure

Huawei reported a 39 percent year-on-year increase in first-quarter revenue on Monday as it continues to see growth despite continued political pressure.

The Chinese networking equipment maker said revenue totaled 179.7 billion yuan ($26.8 billion) for the first three months of 2019. The company said it shipped 59 million smartphones in the first quarter.

Huawei said in a press release that 2019 “will be a year of large-scale deployment of 5G around the world” and its carrier business “has unprecedented opportunities for growth.” By the end of March, Huawei had signed 40 commercial contracts for 5G with leading global carriers. 5G refers to the fifth generation of mobile networks that promises super-fast data speeds with the ability to support new technologies like driverless cars.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: arjun kharpal, lluis gene, afp, getty images
Keywords: news, cnbc, companies, 2019, jumped, billion, political, firstquarter, yearonyear, despite, pressure, unprecedented, yuan, growth, revenue, 5g, 39, huawei, world


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Elon Musk says Tesla robotaxis will hit the market next year

Tesla CEO Elon Musk said that the company should have robotaxis on the roads in 2020. “I feel very confident predicting autonomous robotaxis for Tesla next year,” Musk said on stage at the Tesla Autonomy Investor Day in Palo Alto, California. All Tesla cars being produced today have the hardware on board that’s required for full self-driving, Musk said, promising that, “all you need to do is improve the software.” Musk also predicted that in two years, Tesla will be making cars with no steering


Tesla CEO Elon Musk said that the company should have robotaxis on the roads in 2020. “I feel very confident predicting autonomous robotaxis for Tesla next year,” Musk said on stage at the Tesla Autonomy Investor Day in Palo Alto, California. All Tesla cars being produced today have the hardware on board that’s required for full self-driving, Musk said, promising that, “all you need to do is improve the software.” Musk also predicted that in two years, Tesla will be making cars with no steering
Elon Musk says Tesla robotaxis will hit the market next year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lora kolodny, robyn beck, pool
Keywords: news, cnbc, companies, hit, market, robotaxis, cars, chips, selfdriving, tops, tesla, musk, elon, drivers, autopilot, teslas


Elon Musk says Tesla robotaxis will hit the market next year

Tesla CEO Elon Musk said that the company should have robotaxis on the roads in 2020.

“I feel very confident predicting autonomous robotaxis for Tesla next year,” Musk said on stage at the Tesla Autonomy Investor Day in Palo Alto, California. They won’t be “in all jurisdictions, because we won’t have regulatory approval everywhere, but I am confident we will have at least regulatory approval somewhere, literally next year,” he said.

Musk based his optimism on the amount of data his company is able to gather from Tesla vehicles already on the road today, which it then uses to improve its software.

All Tesla cars being produced today have the hardware on board that’s required for full self-driving, Musk said, promising that, “all you need to do is improve the software.”

Musk also predicted that in two years, Tesla will be making cars with no steering wheels or pedals.

While the CEO repeated that Tesla will have over 1 million robotaxis on the road next year, and he expects to be “operating robotaxis next year with no one in them,” he did also warn investors, “Sometimes I am not on time, but I get it done.”

In the past, Elon Musk’s forecasts for Tesla have missed the mark. Tesla was two years late with the launch of the Model X, its first all-electric SUV. And it was two years late in delivering semi-autonomous features to eager drivers. When Tesla began to discuss its ambitions in self-driving technology in 2016, Musk said they would conduct a hands-free trip across the US by late 2017. They have yet to complete that mission.

Musk and a Tesla Director, Pete Bannon, who is a former Apple exec, showed off Tesla’s latest chips emphasizing how they were designed to process massive amounts of data quickly, without significantly heating up, or draining the vehicles’ batteries.

Bannon claimed the chips can potentially perform 7 times better than a competing product from Nvidia, in reference to its Xavier chips.

Nvidia said in a statement that Tesla misstated details about its Xavier chips, which offer 30 TOPS, a measure of processing power (not 21 TOPS as Tesla claimed). Nvidia also said Tesla’s full self-driving computers compare directly to its Drive AGX Pegasus. Tesla’s new tech can provide 144 TOPS of processing power, and the Pegasus provides 320 TOPS, Nvidia said.

New chips already in development at Tesla are likely to arrive in two years, Musk and Bannon said. The company is currently manufacturing its chips with Samsung in Austin, Texas they revealed.

Currently, Tesla offers Autopilot — an advanced driver assistance system — as a standard feature in its cars. According to the company’s website, Autopilot can automatically hold a car in its lane and accelerate or brake automatically, for example, in response to pedestrians or other cars in its way. Tesla can improve Autopilot with new features (or bug fixes) over time via over-the-air updates, as well.

In addition, Tesla sells a “Full Self-Driving,” or FSD, package for its vehicles for $5,000 or more if the software is installed after the vehicle is initially purchased.

FSD features today include “Summon,” which lets a driver call their Tesla to roll out from a parking spot to where they are standing (with no driver on board). And FSD lets drivers “Navigate on Autopilot,” automatically driving their car from a highway on-ramp to an off-ramp, making necessary lane changes along the way.

Later this year, Tesla’s website says, cars with FSD should be able to read and respond properly to traffic lights and stop signs, and drive automatically on city streets.

Even with FSD, Tesla’s cars are not considered “driverless,” meaning that they don’t meet the SAE Level 4 standard used to denote a car that could handle every aspect of driving in some conditions without any human intervention.

Tesla also cautions its drivers, “Current Autopilot features require active driver supervision and do not make the vehicle autonomous.” In other words, while tempting, drivers aren’t supposed to zone out, or drive hands-free even if they have Full Self-Driving.

Tesla and Musk have previously claimed that their cars are 40% safer than others when drivers have Autopilot engaged. A NHTSA study Tesla cited to support that claim has been debunked by independent researchers, Quality Control Systems. NHTSA has said it is reviewing QCS’ findings.

There have been at least three fatal accidents in the US involving Tesla drivers with Autopilot engaged dating back to the death of Joshua Brown in Florida in 2106.

Tesla shares barely budged during the “Autonomy Day” event, and ended down about 4% for the day.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lora kolodny, robyn beck, pool
Keywords: news, cnbc, companies, hit, market, robotaxis, cars, chips, selfdriving, tops, tesla, musk, elon, drivers, autopilot, teslas


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Stocks making the biggest moves midday: Kimberly-Clark, Boeing, Tesla & more

Check out the companies making headlines midday Monday:Kimberly-Clark — Kimberly-Clark rose 5.4% after the company reported strong first-quarter earnings. The parent company of Kleenex, Huggies and Kotex reported $1.66 per share versus the expected $1.54 per share, according to Refinitiv. Tesla — Shares of the automaker fell 3.9% following an apparent explosion of one of its vehicles in Shanghai. It wasn’t immediately clear which Tesla model was affected, and the company sent a team to China to


Check out the companies making headlines midday Monday:Kimberly-Clark — Kimberly-Clark rose 5.4% after the company reported strong first-quarter earnings. The parent company of Kleenex, Huggies and Kotex reported $1.66 per share versus the expected $1.54 per share, according to Refinitiv. Tesla — Shares of the automaker fell 3.9% following an apparent explosion of one of its vehicles in Shanghai. It wasn’t immediately clear which Tesla model was affected, and the company sent a team to China to
Stocks making the biggest moves midday: Kimberly-Clark, Boeing, Tesla & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: fred imbert, drew angerer, getty images news, getty images
Keywords: news, cnbc, companies, fell, stocks, rose, kimberlyclark, shares, midday, company, reported, tesla, energy, share, sector, announced, biggest, boeing, moves, making, report


Stocks making the biggest moves midday: Kimberly-Clark, Boeing, Tesla & more

Check out the companies making headlines midday Monday:

Kimberly-Clark — Kimberly-Clark rose 5.4% after the company reported strong first-quarter earnings. The parent company of Kleenex, Huggies and Kotex reported $1.66 per share versus the expected $1.54 per share, according to Refinitiv.

Tesla — Shares of the automaker fell 3.9% following an apparent explosion of one of its vehicles in Shanghai. It wasn’t immediately clear which Tesla model was affected, and the company sent a team to China to investigate.

Boeing — Shares of the airline manufacturer dropped 1.3% following The New York Times’ report that Boeing ignored workers’ concerns over its production quality of 787 Dreamliner jets. Complaints come after two fatal crashes since October of its 737 Max.

CannTrust Holdings — Shares of CannTrust Holdings dropped 3.4% after the Canadian producer of medical and recreational cannabis announced it will issue $200 million worth of additional shares.

Bed Bath & Beyond — Bed, Bath & Beyond fell 4% after the housewares retailer announced it will be reconstructing its board. Five independent directors, the company’s founders and the co-chairman will all leave their positions on the board. Lead independent director Patrick Gaston has been named as the new chairman of the board.

Chevron, Exxon Mobil — Shares of the major energy companies rose 1.7% and 2.2%, respectively, after the U.S. announced it will halt sanction waivers to countries importing oil from Iran. The broader energy sector also outperformed on Monday, with the Energy Select Sector SPDR Fund surging 2.1%.

Rent-A-Center — Rent-A-Center shares jumped 7.2% after the company settled a lawsuit related to the termination of its merger with Vintage Capital Management. The company received more than $92 million from the deal.

W.W. Grainger – Shares of the industrial product distributor fell more than 5% after reporting revenue that missed Wall Street forecasts. The company’s CEO said sales were “softer than expected.” Earnings, however, did beat expectations, and W.W. Grainger reiterated its outlook for the remainder of the year. The stock is on pace for its worst day of trading since early December.

—CNBC’s Nadine El-Bawab, Jessica Bursztynsky and JR Reed contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: fred imbert, drew angerer, getty images news, getty images
Keywords: news, cnbc, companies, fell, stocks, rose, kimberlyclark, shares, midday, company, reported, tesla, energy, share, sector, announced, biggest, boeing, moves, making, report


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Tesla is investigating the apparent explosion of a parked car in Shanghai

Tesla said Monday it immediately sent a team to investigate an apparent explosion of one of its cars that occurred in Shanghai on Sunday evening local time. There are no known casualties at this time, the electric car company said in a Chinese-language post on Weibo, China’s version of Twitter. It was not immediately clear which Tesla model was affected, but reports indicated the car was parked at the time of the fire. In January, Chicago law firm Corboy & Demetrio said that there have been at l


Tesla said Monday it immediately sent a team to investigate an apparent explosion of one of its cars that occurred in Shanghai on Sunday evening local time. There are no known casualties at this time, the electric car company said in a Chinese-language post on Weibo, China’s version of Twitter. It was not immediately clear which Tesla model was affected, but reports indicated the car was parked at the time of the fire. In January, Chicago law firm Corboy & Demetrio said that there have been at l
Tesla is investigating the apparent explosion of a parked car in Shanghai Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: evelyn cheng
Keywords: news, cnbc, companies, version, worldwide, tesla, model, vehicles, parked, explosion, immediately, car, weibo, investigating, shanghai, apparent


Tesla is investigating the apparent explosion of a parked car in Shanghai

Tesla said Monday it immediately sent a team to investigate an apparent explosion of one of its cars that occurred in Shanghai on Sunday evening local time.

There are no known casualties at this time, the electric car company said in a Chinese-language post on Weibo, China’s version of Twitter. Tesla also said it is in active communication and cooperation with relevant departments about the situation.

It was not immediately clear which Tesla model was affected, but reports indicated the car was parked at the time of the fire.

In January, Chicago law firm Corboy & Demetrio said that there have been at least a dozen cases worldwide in the last five years of Model S batteries exploding in collisions and parked vehicles. The statement was part of a lawsuit filed against Tesla that alleged a 2014 Model S had a defective battery pack, causing an 18-year-old passenger to die in an accident last year, Reuters reported.

—Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: evelyn cheng
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Trump aims to drive Iran’s oil exports to zero by ending sanctions waivers

He said the suppliers have been working directly with Iran’s customers to make the transition away from Iranian barrels less disruptive. The Saudis stopped short of explicitly guaranteeing a change in policy but reiterated its commitment to balancing oil supply and demand. The kingdom will “coordinate with fellow oil producers to ensure adequate supplies are available to consumers while ensuring the global oil market does not go out of balance,” Saudi Energy Minister Khalid al-Falih said on Mond


He said the suppliers have been working directly with Iran’s customers to make the transition away from Iranian barrels less disruptive. The Saudis stopped short of explicitly guaranteeing a change in policy but reiterated its commitment to balancing oil supply and demand. The kingdom will “coordinate with fellow oil producers to ensure adequate supplies are available to consumers while ensuring the global oil market does not go out of balance,” Saudi Energy Minister Khalid al-Falih said on Mond
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Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: tom dichristopher, mary catherine wellons
Keywords: news, cnbc, companies, exports, ending, trump, market, zero, stability, saudi, countries, sanctions, drive, waivers, oil, foreign, iran, aims, irans, iranian


Trump aims to drive Iran's oil exports to zero by ending sanctions waivers

Saudi Arabia and UAE have assured the U.S. they will ensure the market has an “appropriate supply,” Pompeo said. He said the suppliers have been working directly with Iran’s customers to make the transition away from Iranian barrels less disruptive.

The Saudis stopped short of explicitly guaranteeing a change in policy but reiterated its commitment to balancing oil supply and demand.

The kingdom will “coordinate with fellow oil producers to ensure adequate supplies are available to consumers while ensuring the global oil market does not go out of balance,” Saudi Energy Minister Khalid al-Falih said on Monday.

“In the next few weeks, the Kingdom will be consulting closely with other producing countries and key oil consuming nations to ensure a well-balanced and stable oil market, for the benefits of producers and consumers as well as the stability of the world economy,” Falih said in a statement.

Following Washington’s official announcement, Trump tweeted that Saudi Arabia and other OPEC members will “more than make up” for any drop in Iranian supplies.

Three of the countries that received the exemptions — Greece, Italy and Taiwan — have already cut their imports from Iran to zero. However, analysts widely expected the Trump administration to extend the waivers to China, India, Japan, South Korea and Turkey, all of which took advantage of the waivers during the first six-month window that began in November.

Companies in those countries now face the threat of being locked out of the U.S. financial system if they continue to import crude from Iran. The question is whether some of those countries will seek to skirt the sanctions, including by facilitating or encouraging purchases of Iranian crude through companies not tied to the U.S. financial system.

China’s Foreign Ministry on Monday denounced Washington’s Iran policy.

“China opposes the unilateral sanctions and so-called ‘long-arm jurisdictions’ imposed by the US. Our cooperation with Iran is open, transparent, lawful and legitimate, thus it should be respected,” Foreign Ministry spokesperson Geng Shuang told reporters.

“Our government is committed to upholding the legitimate rights and interests of Chinese companies and will play a positive and constructive role in upholding the stability of global energy market.”

Turkish Minister of Foreign Affairs Mevlut Cavusoglu also rejected the sanctions, saying they “will not serve regional peace and stability” and would hurt the Iranian people.

Dialing up pressure on Iran threatens to spark maritime conflict in the Persian Gulf. Iran has long threatened to shut down the Strait of Hormuz, the world’s busiest transit lane for seaborne oil shipments, if it is prevented from exporting oil.

On Monday, Iranian officials renewed those threats.

“According to international law, the Strait of Hormuz is a marine passageway and if we are barred from using it, we will shut it down. In case of any threat, we will have not even an iota of doubt to protect and defend the Iranian waters,” Rear Admiral Alireza Tangsiri, commander of the Islamic Revolution Guards Corps’ Navy, told the al-Alam news channel, according to Iran’s semi-official Fars news agency.

Earlier this month, the Trump administration designated Iran’s Islamic Revolutionary Guard Corps a terrorist organization, marking the first time the U.S. has applied the designation to a foreign country’s military.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: tom dichristopher, mary catherine wellons
Keywords: news, cnbc, companies, exports, ending, trump, market, zero, stability, saudi, countries, sanctions, drive, waivers, oil, foreign, iran, aims, irans, iranian


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South Bend poor say Democrat Pete Buttigieg left them behind

SOUTH BEND, Ind. His presidential campaign, however, cited South Bend polling data that shows the mayor has made inroads with minority communities. Indeed, Buttigieg was reelected in 2015 with 80% of the vote, winning every part of South Bend against his Republican competitor. His performance among poor and minority voters has weighed on him in some early national polls, too, particularly as his economic record in South Bend comes into greater focus. Buttigieg’s campaign declined on multiple occ


SOUTH BEND, Ind. His presidential campaign, however, cited South Bend polling data that shows the mayor has made inroads with minority communities. Indeed, Buttigieg was reelected in 2015 with 80% of the vote, winning every part of South Bend against his Republican competitor. His performance among poor and minority voters has weighed on him in some early national polls, too, particularly as his economic record in South Bend comes into greater focus. Buttigieg’s campaign declined on multiple occ
South Bend poor say Democrat Pete Buttigieg left them behind Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: tucker higgins, tucker higgins for cnbc, -shawn white, south bend, indiana
Keywords: news, cnbc, companies, national, south, democrat, minority, buttigieg, poor, city, buttigiegs, left, campaign, say, bend, mayor, neely, pete


South Bend poor say Democrat Pete Buttigieg left them behind

SOUTH BEND, Ind. – C.J. Neely, a black 16-year-old who has lived here all his life, thinks it’s pretty cool that Pete Buttigieg, the mayor of this small city of about 100,000 people, is running for president.

“I never heard about anybody from Indiana running for president,” Neely said recently outside his childhood home in the city’s northwest.

Just a few days before, Buttigieg, a rising star of the Democratic Party, officially launched his bid for president at an abandoned Studebaker plant downtown that the city helped convert into a 800,000-square-foot tech hub, a symbol of the city pushing beyond its 20th century roots.

Neely, who lives just a few miles away, hadn’t heard about the announcement. And, he said, he hasn’t seen the progress.

“This s— looks the same, every time I walk through here,” Neely assessed somberly. Though he acknowledged that the mayor was “trying,” the teenager delivered a blunt conclusion: “He’s improved s—.”

At a time when economic inequality and racial justice are at the nation’s political forefront, Buttigieg’s candidacy could be hamstrung by the impression that he has not tried hard enough to improve the conditions of South Bend’s poor and minority communities.

Even as his national polling numbers rise, the mayor faces criticism about his record on race, including for his handling of a police controversy that continues to be a subject of conversation in the city. His presidential campaign, however, cited South Bend polling data that shows the mayor has made inroads with minority communities. Chris Meagher, Buttigieg’s national press secretary, said in a statement that a poll conducted by Buttigieg’s “Pete for South Bend” campaign last month showed 86% “of folks, with a heavy African-American sample, said that the city was on the right track.”

Indeed, Buttigieg was reelected in 2015 with 80% of the vote, winning every part of South Bend against his Republican competitor. Buttigieg also won 77% of the vote against a black Democratic primary challenger. In that primary race, though, the extent of his victory was uneven, picking up one predominantly black district by only 60 votes, or four percentage points, according to the South Bend Tribune.

The skepticism has dogged him on the campaign trail, too. Buttigieg has struggled to attract diverse audiences at rallies so far in his campaign. It is an issue Buttigieg has said he is “very intent” on fixing. His performance among poor and minority voters has weighed on him in some early national polls, too, particularly as his economic record in South Bend comes into greater focus.

Buttigieg’s campaign declined on multiple occasions to make him available for an interview.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: tucker higgins, tucker higgins for cnbc, -shawn white, south bend, indiana
Keywords: news, cnbc, companies, national, south, democrat, minority, buttigieg, poor, city, buttigiegs, left, campaign, say, bend, mayor, neely, pete


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Kraft Heinz’s CEO is the latest victim of Big Food’s exodus of leaders

Kraft Heinz’s Bernardo Hees is the latest CEO to announce his exit from a food company, as the industry goes through unprecedented turnover and challenges. When Morrison left last May, she capped a streak of 15 CEO departures since the beginning of 2016. The longest-tenured food company CEO is Joe Sanderson, the third-generation leader of poultry company Sanderson Farms. Irwin Simon, the founder and chief of Hain Celestial Group, had been the second-longest tenured CEO when he left in June. That


Kraft Heinz’s Bernardo Hees is the latest CEO to announce his exit from a food company, as the industry goes through unprecedented turnover and challenges. When Morrison left last May, she capped a streak of 15 CEO departures since the beginning of 2016. The longest-tenured food company CEO is Joe Sanderson, the third-generation leader of poultry company Sanderson Farms. Irwin Simon, the founder and chief of Hain Celestial Group, had been the second-longest tenured CEO when he left in June. That
Kraft Heinz’s CEO is the latest victim of Big Food’s exodus of leaders Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lauren hirsch, david a grogan
Keywords: news, cnbc, companies, latest, foods, big, shift, exodus, store, food, heinzs, sanderson, kraft, company, left, growth, ceo, morrison, leaders, victim, simon


Kraft Heinz's CEO is the latest victim of Big Food’s exodus of leaders

Kraft Heinz’s Bernardo Hees is the latest CEO to announce his exit from a food company, as the industry goes through unprecedented turnover and challenges.

The parade of departures includes Kellogg’s John Bryant, Mondelez International’s Irene Rosenfeld and Campbell Soup’s Denise Morrison. When Morrison left last May, she capped a streak of 15 CEO departures since the beginning of 2016.

The longest-tenured food company CEO is Joe Sanderson, the third-generation leader of poultry company Sanderson Farms.

Irwin Simon, the founder and chief of Hain Celestial Group, had been the second-longest tenured CEO when he left in June. Simon, who held the top job at the natural foods company since 1993, stepped down as the company came under activist pressure.

Now, Sean Connolly, Conagra’s CEO, holds that title. He joined the company in 2015.

The CEO merry-go-round underscores the challenges iconic food brands are facing. These grocery store staples are struggling to create growth in the face of upstart rivals, rapidly changing consumer trends and their own slower-paced cultures. If they want to buy growth, there are limited and expensive options.

These executives are also victims of their predecessors’ successes. The scale that once gave CEOs power at the grocery store and yielded cost savings now makes it harder to casually shift away from legacy businesses. Campbell could cut down on soup production and Kellogg its cereal business, but both would still have the fixed costs associated with these businesses.

It is, therefore, a challenge for a CEO to gather support from a company to shift its focus from namesake moneymakers to bet on growth. That’s even in the face of packaged food company sales slowing last year to 1.2%, according to Euromonitor.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lauren hirsch, david a grogan
Keywords: news, cnbc, companies, latest, foods, big, shift, exodus, store, food, heinzs, sanderson, kraft, company, left, growth, ceo, morrison, leaders, victim, simon


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Sri Lanka says attacks carried out by suicide bombers, international network involved

Seven suicide bombers took part in the attacks on churches and luxury hotels in Sri Lanka that killed 290 people and wounded more than 500, an investigator said on Monday, while a government spokesman said an international network was involved. Cabinet spokesman Rajitha Senaratne said an international network was involved, but did not elaborate. “There was an international network without which these attacks could not have succeeded.” Prime Minister Ranil Wickremesinghe acknowledged on Sunday th


Seven suicide bombers took part in the attacks on churches and luxury hotels in Sri Lanka that killed 290 people and wounded more than 500, an investigator said on Monday, while a government spokesman said an international network was involved. Cabinet spokesman Rajitha Senaratne said an international network was involved, but did not elaborate. “There was an international network without which these attacks could not have succeeded.” Prime Minister Ranil Wickremesinghe acknowledged on Sunday th
Sri Lanka says attacks carried out by suicide bombers, international network involved Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: getty images news, getty images, chamila karunarathne, anadolu agency
Keywords: news, cnbc, companies, sri, lanka, suicide, spokesman, involved, targeted, network, possible, attacks, wounded, carried, bombers, churches, hotel, international


Sri Lanka says attacks carried out by suicide bombers, international network involved

Seven suicide bombers took part in the attacks on churches and luxury hotels in Sri Lanka that killed 290 people and wounded more than 500, an investigator said on Monday, while a government spokesman said an international network was involved.

Two of the suicide bombers blew themselves up at the luxury Shangri-La Hotel on Colombo’s seafront, said Ariyananda Welianga, a senior official at the government’s forensic division. The others targeted three churches and two other hotels.

A fourth hotel and a house in a suburb of the capital Colombo were also targeted, but it was not immediately clear how those attacks were carried out.

“Still the investigations are going on,” Welianga said.

There was no claim of responsibility for the Easter Sunday attacks, which mainly took place during church services or when hotel guests were sitting down for breakfast buffets.

“Guests who had come for breakfast were lying on the floor, blood all over,” an employee at Kingsbury Hotel, one of those targeted, told Reuters.

“We just picked up everyone, dead or alive and evacuated them.” Cabinet spokesman Rajitha Senaratne said an international network was involved, but did not elaborate.

“We do not believe these attacks were carried out by a group of people who were confined to this country,” Senaratne said. “There was an international network without which these attacks could not have succeeded.”

The president, Maithripala Sirisena, said in a statement the country will seek foreign assistance to track the international links.

Prime Minister Ranil Wickremesinghe acknowledged on Sunday that the government had some prior information about possible attacks on churches involving a little-known local Islamist group.

A domestic intelligence report dated April 11 and seen by Reuters said a foreign intelligence agency had warned Sri Lankan authorities of possible attacks.

Four of the bombs went off at roughly the same time on Sunday, at 8.45 a.m., with two others coming within 20 minutes. The explosions at the fourth hotel and the house were in the afternoon.

Most of the dead and wounded were Sri Lankans although government officials said 32 foreigners were killed, including British, U.S., Turkish, Indian, Chinese, Danish, Dutch and Portuguese nationals.

Denmark’s richest man Anders Holch Povlsen and his wife lost three of their four children in the attacks, a spokesman for Povlsen’s fashion firm said.

The U.S. State Department said in a travel advisory “terrorist groups” were continuing to plot possible attacks in Sri Lanka and targets could include tourist spots, transport hubs, shopping malls, hotels, places of worship, airports and other public areas.

The government announced a curfew in Colombo from 8 p.m. until 4 a.m. Separately, the president said a nationwide emergency will go into effect at midnight local time on Monday, granting police and the military extensive powers to detain and interrogate suspects without court orders.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: getty images news, getty images, chamila karunarathne, anadolu agency
Keywords: news, cnbc, companies, sri, lanka, suicide, spokesman, involved, targeted, network, possible, attacks, wounded, carried, bombers, churches, hotel, international


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Pinterest and Zoom have had exciting IPOs—here’s what to know if you’re thinking of investing

Image-sharing platform Pinterest and videoconferencing company Zoom are two of a handful of big-name tech companies that went public or plan to go public this year. Ride-hailing app Lyft listed earlier this year, while Uber is planning its IPO for later this spring. If you’re interested in buying stock in one of these companies, experts urge caution. Lyft is a good case study of why it can be smart to sit out an initial public offering, Arielle O’Shea, NerdWallet’s investing and retirement speci


Image-sharing platform Pinterest and videoconferencing company Zoom are two of a handful of big-name tech companies that went public or plan to go public this year. Ride-hailing app Lyft listed earlier this year, while Uber is planning its IPO for later this spring. If you’re interested in buying stock in one of these companies, experts urge caution. Lyft is a good case study of why it can be smart to sit out an initial public offering, Arielle O’Shea, NerdWallet’s investing and retirement speci
Pinterest and Zoom have had exciting IPOs—here’s what to know if you’re thinking of investing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: alicia adamczyk, rich polk, getty images, -arielle oshea, investing, retirement specialist
Keywords: news, cnbc, companies, went, companies, ipo, investing, good, pinterest, youre, waiting, exciting, buying, zoom, know, iposheres, public, weeks, thinking


Pinterest and Zoom have had exciting IPOs—here's what to know if you're thinking of investing

Image-sharing platform Pinterest and videoconferencing company Zoom are two of a handful of big-name tech companies that went public or plan to go public this year. Ride-hailing app Lyft listed earlier this year, while Uber is planning its IPO for later this spring.

If you’re interested in buying stock in one of these companies, experts urge caution. For starters, they suggest waiting a few months for their price to settle.

Lyft is a good case study of why it can be smart to sit out an initial public offering, Arielle O’Shea, NerdWallet’s investing and retirement specialist, tells CNBC Make It. The company’s shares are down around 20% since its IPO, highlighting the volatility that often follows a public offering.

“If you had waited just a few weeks, you would be buying at quite a discount, so that’s a good illustration of what can happen if you act too fast,” she says. “The average investor should tread carefully around an IPO.”


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: alicia adamczyk, rich polk, getty images, -arielle oshea, investing, retirement specialist
Keywords: news, cnbc, companies, went, companies, ipo, investing, good, pinterest, youre, waiting, exciting, buying, zoom, know, iposheres, public, weeks, thinking


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