Can’t wait until 70? This is the next best age to claim Social Security benefits

By now, you may have heard: 70 is the best age for claiming Social Security benefits. Because you have already reached your full retirement age — age 66 or 67 for most — you’ll receive 100% of the benefits you are entitled to. But that stops at age 70. And waiting until age 70 might sound like a long time. The good news is that there is a next best age to claim.


By now, you may have heard: 70 is the best age for claiming Social Security benefits. Because you have already reached your full retirement age — age 66 or 67 for most — you’ll receive 100% of the benefits you are entitled to. But that stops at age 70. And waiting until age 70 might sound like a long time. The good news is that there is a next best age to claim.
Can’t wait until 70? This is the next best age to claim Social Security benefits Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: lorie konish
Keywords: news, cnbc, companies, cant, youll, timethe, social, benefits, youre, age, waiting, claim, retirement, stops, security, 70, best, wait


Can't wait until 70? This is the next best age to claim Social Security benefits

By now, you may have heard: 70 is the best age for claiming Social Security benefits.

Here’s why. Because you have already reached your full retirement age — age 66 or 67 for most — you’ll receive 100% of the benefits you are entitled to. Plus, for every year you delay beyond your full retirement age, you stand to get a boost of up to 8% to your benefits. Exactly how much of an increase you get is calculated based on the year of your birth and the number of months you delay.

But that stops at age 70.

If you’re like many individuals, you’re counting down the days until retirement. And waiting until age 70 might sound like a long time.

The good news is that there is a next best age to claim.


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: lorie konish
Keywords: news, cnbc, companies, cant, youll, timethe, social, benefits, youre, age, waiting, claim, retirement, stops, security, 70, best, wait


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70% of shoes sold in the US comes from China. With new tariffs, the industry braces for a hit.

The U.S. footwear industry is one of the biggest victims in an escalating trade war with China. A whopping 70% of shoes sold in the U.S. comes from China, according to the Footwear Distributors & Retailers of America, an industry organization with more than 500 members including Walmart, Nike, Crocs and Steven Madden. Footwear imported from China is already being hit with upwards of 67% duties, FDRA said. Nike, for example, made 47% of its shoes in Vietnam in fiscal 2018, according to its latest


The U.S. footwear industry is one of the biggest victims in an escalating trade war with China. A whopping 70% of shoes sold in the U.S. comes from China, according to the Footwear Distributors & Retailers of America, an industry organization with more than 500 members including Walmart, Nike, Crocs and Steven Madden. Footwear imported from China is already being hit with upwards of 67% duties, FDRA said. Nike, for example, made 47% of its shoes in Vietnam in fiscal 2018, according to its latest
70% of shoes sold in the US comes from China. With new tariffs, the industry braces for a hit. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: lauren thomas
Keywords: news, cnbc, companies, going, shoe, tariffs, braces, 70, china, comes, trump, hit, vietnam, sold, shoes, industry, walmart, footwear


70% of shoes sold in the US comes from China. With new tariffs, the industry braces for a hit.

The U.S. footwear industry is one of the biggest victims in an escalating trade war with China.

President Donald Trump on Thursday announced another round of tariffs on the roughly $300 billion of Chinese goods that hadn’t already been targeted by American levies, which will take effect on Sept. 1. It will impact apparel, home textiles like bedding and shoes — among other consumer goods.

Shoe manufacturers in particular are bracing to take a major hit, with reality setting in that after months of on-and-off talks between these U.S. and China, these tariffs are set to take effect. A whopping 70% of shoes sold in the U.S. comes from China, according to the Footwear Distributors & Retailers of America, an industry organization with more than 500 members including Walmart, Nike, Crocs and Steven Madden. Footwear imported from China is already being hit with upwards of 67% duties, FDRA said.

“The consumer won’t be able to hide,” FDRA President and CEO Matt Priest said in an interview. “Even if it’s 10%, it’s death by a thousand cuts.”

In May, more than 170 shoe retailers and brands — including Under Armour, Ugg and Foot Locker — penned a letter to Trump asking him not to raise tariffs on footwear, saying at the time: “These tariffs would mean some working American families could pay a nearly 100% duty on their shoes.” (Trump back in May was considering a 25% tariff hike.)

FDRA has calculated that a popular type of canvas “skate” sneaker could increase in price to $58.69 from $49.99 with an additional 10% tariff. The price of a typical hunting boot could jump to $222.27 from $190. And a popular performance running shoe could rise to $187.50 from $150.

Companies like Nike, Under Armour and Puma have steadily been decreasing their reliance on China, shifting resources to places like Vietnam. Still, the U.S. imported $11.4 billion worth of footwear from China last year, according to data from the U.S. Census Bureau, making it an industry incredibly reliant on the country for its cheap, skilled labor.

Nike, for example, made 47% of its shoes in Vietnam in fiscal 2018, according to its latest annual report. It made 26% in China and 21% in Indonesia.

Adidas says Vietnam is its largest sourcing country, with 42% of volume coming from there. In 2018 it did about 18% of volume in China, down 1% from 2017 levels, according to SEC filings.

Under Armour says 87% of its footwear products in 2018 were manufactured by five main contract manufacturers, operating mostly in China, Vietnam and Indonesia.

According to Priest, it’s discount retailers like Walmart that remain particularly dependent on China for footwear production. “10% [tariffs are] going to create a lot of pain, particularly for companies that serve low-cost customers.”

A company like Walmart, he said, will have a more difficult time absorbing the tariffs along its supply chain, thus shoppers will have to bear more of that burden. Walmart declined to comment.

Meanwhile, another impact of the new tariffs could be more footwear businesses going under. The sector has already been having a rough ride.

Payless ShoeSource was a popular wholesale channel for many shoe brands, but it filed for bankruptcy in February and shut all of its 2,500 stores. Brands like Nine West, Rockport and The Walking Co. filed for bankruptcy in 2018. The industry hasn’t been immune to more shoppers buying footwear online and from places like Zappos. And with shoppers tastes’ evolving so quickly, like with clothing, there’s a revolving door of shoe brands coming and going out of fashion.

“The short term is going to be retail ugly,” Rick Helfenbein, CEO of the American Apparel and Footwear Association, told CNBC’s “Closing Bell” on Thursday. “We don’t have a place to go. You can’t move this mountain of merchandise so quickly.”

“The message from the [Trump] administration is, ‘Get out of China.’ The problem is we can’t do it as fast as they would like us to do it. So we are going to stay there … and fight it out.”


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: lauren thomas
Keywords: news, cnbc, companies, going, shoe, tariffs, braces, 70, china, comes, trump, hit, vietnam, sold, shoes, industry, walmart, footwear


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4 companies pay California $70 million for delaying drug rollouts to keep prices high

An employee collects newly-manufactured pills at the tablet production plant at Teva Pharmaceutical Industries headquarters in Jerusalem, Israel. Four pharmaceutical companies collectively are agreeing to pay California nearly $70 million to settle allegations that they delayed drugs to keep prices high, California Attorney General Xavier Becerra said Monday. The bulk of the money will come from Teva Pharmaceutical Industries and its affiliates for paying to delay a generic narcolepsy drug, Prov


An employee collects newly-manufactured pills at the tablet production plant at Teva Pharmaceutical Industries headquarters in Jerusalem, Israel. Four pharmaceutical companies collectively are agreeing to pay California nearly $70 million to settle allegations that they delayed drugs to keep prices high, California Attorney General Xavier Becerra said Monday. The bulk of the money will come from Teva Pharmaceutical Industries and its affiliates for paying to delay a generic narcolepsy drug, Prov
4 companies pay California $70 million for delaying drug rollouts to keep prices high Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-29  Authors: meg tirrell
Keywords: news, cnbc, companies, paying, market, prices, pharmaceutical, agreements, nearly, settlement, drug, million, companies, 70, california, teva, generic, rollouts, pay, high, delaying


4 companies pay California $70 million for delaying drug rollouts to keep prices high

An employee collects newly-manufactured pills at the tablet production plant at Teva Pharmaceutical Industries headquarters in Jerusalem, Israel.

Four pharmaceutical companies collectively are agreeing to pay California nearly $70 million to settle allegations that they delayed drugs to keep prices high, California Attorney General Xavier Becerra said Monday.

The bulk of the money will come from Teva Pharmaceutical Industries and its affiliates for paying to delay a generic narcolepsy drug, Provigil, from entering the market for nearly six years.

Teva is paying $69 million, which Becerra says is the largest pay-for-delay settlement received by any state.

Such agreements let the developer of brand name drugs keep their monopolies over the drugs after their patents expire, thereby letting them continue to charge consumers higher prices. The drug developer pays the generic manufacturer to keep the cheaper version of the drug from entering the marketplace for an agreed period of time.

Teva said the money will come from a pre-existing fund that was created in 2015 as part of the company’s settlement with the U.S. Federal Trade Commission over similar claims, and it will not make any additional payments.

Becerra said such agreements can force consumers and the health care market to pay as much as 90% more than if there were generic alternatives. More than $25 million of the settlement will go to a consumer fund for California residents who purchased Provigil, Nuvigil or Modafinil between 2006 and 2012.

“No one in America should be forced to skip or ration doses of medicine that they need … and certainly not because a drug company is colluding to keep the price of your drug artificially high even when cheaper options could be available. But that’s what’s happening,” Becerra said.

The second, $760,000 settlement is with Teva, Endo Pharmaceuticals and Teikoku Pharma USA over keeping a genetic alternative to the pain patch Lidoderm from entering the market for nearly two years.

Teva said it is paying $200,000 to cover the state’s legal costs after settling similar federal claims earlier this year.

Both settlements bar the companies from pay-for-delay agreements for several years. Teva is agreeing to not to enter any such agreements for 10 years, while Endo Pharmaceuticals has an eight-year agreement and Teikoku a 20-year injunction.

Teva said the restriction is identical to its federal consent decree.


Company: cnbc, Activity: cnbc, Date: 2019-07-29  Authors: meg tirrell
Keywords: news, cnbc, companies, paying, market, prices, pharmaceutical, agreements, nearly, settlement, drug, million, companies, 70, california, teva, generic, rollouts, pay, high, delaying


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How to use this $70 gadget to detect spy cameras in your Airbnb or hotel room

Todd Haselton | CNBCNumerous reports over the past several years have suggested Airbnb hosts are using cameras to spy on guests. Todd Haselton | CNBCIf you’re worried about this, there’s a $70 gadget you can buy on Amazon that will let you do a quick sweep of any room for cameras. Todd Haselton | CNBCThis is the RF detector I bought from Amazon for $70, from a company called Eilimy. How to spot a hidden cameraMy $79 RF detector, which can alert you of wireless signals coming from hidden cameras.


Todd Haselton | CNBCNumerous reports over the past several years have suggested Airbnb hosts are using cameras to spy on guests. Todd Haselton | CNBCIf you’re worried about this, there’s a $70 gadget you can buy on Amazon that will let you do a quick sweep of any room for cameras. Todd Haselton | CNBCThis is the RF detector I bought from Amazon for $70, from a company called Eilimy. How to spot a hidden cameraMy $79 RF detector, which can alert you of wireless signals coming from hidden cameras.
How to use this $70 gadget to detect spy cameras in your Airbnb or hotel room Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: todd haselton
Keywords: news, cnbc, companies, airbnb, haselton, detector, cameras, connected, hotel, hidden, spy, camera, todd, signal, rf, detect, room, wireless, 70, gadget


How to use this $70 gadget to detect spy cameras in your Airbnb or hotel room

This is my RF detector, which I paid $79 for on Amazon and can pick up radio signals. Todd Haselton | CNBC

Numerous reports over the past several years have suggested Airbnb hosts are using cameras to spy on guests. Some hosts might have a relatively innocuous Nest Cam outside to keep track of who comes and goes, but others can be used to watch you while you roam about the house. There have even been reports of cameras in hotel rooms.

Smile! Todd Haselton | CNBC

Airbnb’s terms says it requires “hosts to disclose all security cameras and other recording devices in their listings, and we prohibit any security cameras and other recording devices that are in or that observe the interior of certain private spaces (such as bedrooms and bathrooms), regardless of whether they’ve been disclosed.” Cameras have to be disclosed even if they’re unplugged, and any disclosures following a booking give a host the option to “cancel the reservation and receive a refund,” though that refund may still require a cancellation penalty.

It’s thin and well built. Todd Haselton | CNBC

If you’re worried about this, there’s a $70 gadget you can buy on Amazon that will let you do a quick sweep of any room for cameras. While it’s not as advanced at detecting cameras that are meant to hide wireless signals — those professional tools are much more expensive — this RF detector can pick up most cameras someone would buy and that are physically hidden, whether they’re in a plant, in disguise or out in the open. I looked for it after The New York Times reported that a Chinese woman was caught with a hidden camera detector at President Trump’s Mar-a-Lago resort and decided to give a cheap one a try. It’s great. Here’s how to use it. Don’t worry, it’s very simple.

The hidden camera detector

The indicator lights tell you if there’s a wireless signal and an alarm will sound from the built-in speaker. Todd Haselton | CNBC

This is the RF detector I bought from Amazon for $70, from a company called Eilimy. It finds and alerts you to radio signals from devices that might be connected to the internet. That includes things like cameras that are in places they shouldn’t be. It’s tiny, though a bit too big for a pocket given the antenna (which can unscrew off of the to.) There’s a bar with indicator lights that are green when it doesn’t spot anything, but turn to red when it finds a signal. A knob allows you to turn up the power, so it can spot things that might be further away. Doing this, however, means it’ll go bonkers with regular things, like Wi-Fi networks, so you don’t want to turn it up too much. I’ll talk about that in the next step.

The device is simple in its execution, but works. Todd Haselton | CNBC

There are dozens of these sorts of RF detectors available on Amazon. I can’t vouch for all of them, but this one worked well for me. There are more advanced devices you can buy with all sorts of graphs that show you the type of signal you’re getting. But this is simple and cheap and just basically says “yes there’s a wireless signal around,” or “no there isn’t.”

A couple of spy cameras I tested

A couple of spy cameras I bought on Amazon. One looks like a USB charger. The other is a tiny camera at the top of a ribbon attached to a battery pack and antenna. Todd Haselon | CNBC

I bought a couple of cheap and easily hidden cameras on Amazon to see if my detector was able to spot them. It worked on each one. Both of the cameras use wireless networks to send a live stream or recorded video back to the host’s phone.

This ribbon camera can hide almost anywhere. Todd Haselon | CNBC

One is a very tiny camera on the top of a ribbon that’s connected to a battery and which can easily be hidden inside of a plant or over the top of another electronic device, or taped to the wall. This looks like a normal bookshelf, for example:

You can barely see the spy camera hidden against the Robert Frost book here, along the edge of the picture frame. Todd Haselon | CNBC

But I’ve hidden the ribbon camera right here:

And here I’m implanting it in a plant:

I’m hiding the ribbon camera in a house plant. Todd Haselon | CNBC

The other one I tested is designed to look and function like a normal gadget charger.

It looks like a normal USB charger. See the camera? Todd Haselon | CNBC

It looks like any other USB plug but there’s a camera hidden in it. You wouldn’t look twice at it, and the camera can only be spotted if you look very closely. Since most people don’t expect chargers to spy on them, they probably don’t even look for something like this.

If you look close, you can see the camera. But who inspects chargers? Todd Haselon | CNBC

The RF detector can pick these up, even if your eyes can’t.

How to spot a hidden camera

My $79 RF detector, which can alert you of wireless signals coming from hidden cameras. Right now it doesn’t see anything. Todd Haselton | CNBC

The trick with setting up an RF detector is to turn up the power just enough so that it can pick up a nearby wireless signal, but not so much that it starts beeping and alerting you about gadgets you already know about, like your cell phone or a Wi-Fi hotspot. To set it properly, tap the silver power button to turn it on and twist the knob on top a tad. Then hold it close to something like your phone so that it buzzes when it’s nearby, but quiet when you pull it away.

My $79 RF detector, which can alert you of wireless signals coming from hidden cameras. You adjust the power using this nob on top. Todd Haselton | CNBC

Now it’s time to begin your sweep. Some pointers: Think about where you’d hide a camera if you wanted to watch someone. Maybe you’d point it at a bed, a conference table, a desk in a hotel room or a bathroom. Then look around the areas that would allow someone to aim a camera at that specific spot, and search there. Typically, this means doing a sweep around the edges of a room, and examining things that seem innocuous like furniture, plants, books and even chargers.

Wait for the lights to go nuts near a wireless device, like a connected spy camera. Todd Haselton | CNBC

You want to get the radio frequency (RF) detector as close to a suspected camera location as you can. And don’t worry if it goes off near normal things that have wireless signals, that’s what it’s supposed to do — pick up frequencies. These products can include a smart TV with Wi-Fi, a connected cable box, an Amazon Echo or connected home device. The idea is to try to find a signal coming from somewhere or something that shouldn’t have a connection, like a plant, a charger or a piece of furniture.

The indicator lights turn red and a really loud and annoying beep will blast from the RF detector if it finds a wireless signal. Todd Haselton | CNBC

You want to bring the RF detector’s antenna near these objects. If it picks up a signal, it’ll make a really loud and annoying beeping sound and the indicator lights will flash yellow or red. Again, this doesn’t mean it found a camera, but it does mean it found something with a wireless signal. So if you stumble on a potted plant that’s setting off the RF detector, take a closer look. It’s possible there’s a connected camera there. Note that the device will only pick up devices when they’re broadcasting over a wireless connection. So, if someone has a hidden camera that doesn’t broadcast, but only stores the video for viewing later, then this won’t detect it. But, in today’s connected world, most people want a live feed and are probably using a camera connected to the internet. Here are a couple of examples.

Hidden camera?

I hid a camera in this plant. It’s hard to see from far away. Todd Haselton | CNBC

Potted, but spotted:

The RF detector makes a loud beeping noise and the indicator bars turn red when it finds a wireless signal. Todd Haselton | CNBC

Hidden camera?

There’s a camera hidden right on the face of this charger that I bought on Amazon. Todd Haselton | CNBC

Found you.

The RF detector spots the signals coming from the camera, giving me an indication something fishy is . going on. Todd Haselton | CNBC

What to do if you find a hidden camera


Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: todd haselton
Keywords: news, cnbc, companies, airbnb, haselton, detector, cameras, connected, hotel, hidden, spy, camera, todd, signal, rf, detect, room, wireless, 70, gadget


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CrowdStrike pops more than 70% in debut, now worth over $11 billion

The company is worth about as much as 37-year-old security software provider Symantec despite having about 5% as much revenue. CrowdStrike, trading on the Nasdaq under ticker symbol “CRWD,” joins a rapidly growing 2019 IPO class, which already includes Uber, Lyft and Pinterest. In the business software market, CrowdStrike follows the debuts of Zoom and PagerDuty and comes just a head of Slack’s direct listing. Accel’s stake is valued at over $2 billion, and Alphabet’s CapitalG controls shares wo


The company is worth about as much as 37-year-old security software provider Symantec despite having about 5% as much revenue. CrowdStrike, trading on the Nasdaq under ticker symbol “CRWD,” joins a rapidly growing 2019 IPO class, which already includes Uber, Lyft and Pinterest. In the business software market, CrowdStrike follows the debuts of Zoom and PagerDuty and comes just a head of Slack’s direct listing. Accel’s stake is valued at over $2 billion, and Alphabet’s CapitalG controls shares wo
CrowdStrike pops more than 70% in debut, now worth over $11 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: lauren feiner
Keywords: news, cnbc, companies, debut, security, 70, spend, billion, 11, market, trading, marketing, company, crowdstrike, software, worth, kurtz, pops


CrowdStrike pops more than 70% in debut, now worth over $11 billion

CrowdStrike rocketed as much as 97% in its first day of trading on the public market on Wednesday. The security software vendor opened trading at $63.50 after it priced its IPO at $34 a share, above the high end of its expected range of $28 to $30 per share.

The stock settled to a pop of more than 73%, pushing its market cap over $11 billion, nearly quadruple the valuation from its last private round in June 2018. The company is worth about as much as 37-year-old security software provider Symantec despite having about 5% as much revenue.

CrowdStrike, trading on the Nasdaq under ticker symbol “CRWD,” joins a rapidly growing 2019 IPO class, which already includes Uber, Lyft and Pinterest. In the business software market, CrowdStrike follows the debuts of Zoom and PagerDuty and comes just a head of Slack’s direct listing.

With the first-day surge, CrowdStrike CEO George Kurtz is a billionaire, and the company’s early backers are notching huge returns. Warburg Pincus owns a stake worth over $3 billion. Accel’s stake is valued at over $2 billion, and Alphabet’s CapitalG controls shares worth over $1 billion.

CrowdStrike, whose cloud-based technology is used to detect and prevent breaches, recorded a net loss of $140 million for the year ended Jan. 31, while revenue more than doubled to $249.8 million, according to the company’s prospectus.

In an interview following the debut, Kurtz told CNBC’s “Squawk Alley ” he thinks his company stands out from other security stocks because it’s been built up using cloud technology.

“There’s been no Salesforce of security, ” Kurtz said. “And we think we’ve taken the right approach and created the right architecture to be that fourth pillar of cloud computing.”

Kurtz addressed CrowdStrike’s marketing spend, which like many emerging enterprise-focused businesses, is fairly high. Sales and marketing spend increased 66% last year to $172.7 million, according to the company’s prospectus. But Kurtz said he feels confident CrowdStrike is spending efficiently.

“Security, and in our particular area, it’s really a greenfield opportunity,” he said. “There’s a lot of frustration with the incumbent vendors. So our sales and marketing spend has really been focused on capturing market share and delivering our solution into geographies that we haven’t been in and into verticals that we didn’t have the penetration when we first started the company. So we feel comfortable with the unit economics and we feel comfortable with the marketing spend given where we are as a company.”

CrowdStrike was founded in 2011 and launched its first end-point security product two years later. The Sunnyvale, California-based company counts Credit Suisse, Tribune Media and Amazon Web Services among its customers. CrowdStrike may be best known for its role in investigating a 2016 breach of the Democratic National Committee’s servers.

Goldman Sachs, J.P. Morgan, Bank of America Merrill Lynch and Barclays led Crowdstrike’s IPO.

-CNBC’s Jordan Novet contributed to this report.

Subscribe to CNBC on YouTube.

WATCH: CrowdStrike: Disrupting cyber attacks in the cloud


Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: lauren feiner
Keywords: news, cnbc, companies, debut, security, 70, spend, billion, 11, market, trading, marketing, company, crowdstrike, software, worth, kurtz, pops


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Dow rises 70 points, up for sixth straight day, after Mexico tariffs avoided

The Dow Jones Industrial Average rose for a sixth straight session, finishing the day 78.74 points, or 0.3%, higher at 26,062.68. Trump said Monday if Xi skips the meeting, more China tariffs will go into effect immediately. The market is reacting to the underlying strength of the economy and resilience, and I don’t see that suddenly crumpling even in the face of additional Chinese tariffs.” Stocks were sent to a downward spiral by a Trump tweet on May 5 threatening to impose tariffs on Chinese


The Dow Jones Industrial Average rose for a sixth straight session, finishing the day 78.74 points, or 0.3%, higher at 26,062.68. Trump said Monday if Xi skips the meeting, more China tariffs will go into effect immediately. The market is reacting to the underlying strength of the economy and resilience, and I don’t see that suddenly crumpling even in the face of additional Chinese tariffs.” Stocks were sent to a downward spiral by a Trump tweet on May 5 threatening to impose tariffs on Chinese
Dow rises 70 points, up for sixth straight day, after Mexico tariffs avoided Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-09  Authors: yun li
Keywords: news, cnbc, companies, straight, market, day, trump, trade, sixth, 70, chinese, china, mexico, xi, rises, points, dow, rose, tariffs, avoided


Dow rises 70 points, up for sixth straight day, after Mexico tariffs avoided

Stocks rose on Monday, extending last week’s big gains, after the U.S. reached an agreement with Mexico on tariffs, easing some of the trade concerns which have weighed on the market since early May.

The Dow Jones Industrial Average rose for a sixth straight session, finishing the day 78.74 points, or 0.3%, higher at 26,062.68. The S&P 500 gained about 0.5% at 2,886.73 and is now a little more than 2% from its intraday all-time high hit on May 1. The Nasdaq Composite rose 1.1% to 7,823.17 on Monday, led by Amazon.

Stocks closed off their highs of the day. The Dow was up 226.67 points at its high.

President Donald Trump announced Sunday that proposed tariffs on Mexican imports would be suspended indefinitely. Trump said in a Twitter post that he has “full confidence” that Mexico will crack down on migration from Central America, after the two neighbors reached a consensus.

Shares of GM and Ford, two companies that had a lot to lose in a trade battle with Mexico because of their production there, jumped 1.5% and 0.6% respectively on Monday.

“The avoidance of Mexican tariffs is a positive but this wasn’t entirely unexpected and it doesn’t by any means erase the enormous risks inherent in Trump’s trade policies,” Adam Crisafulli, a J.P. Morgan managing director, said in a note on Monday.

Meanwhile, investors are closely monitoring the development in the U.S.-China trade war. Trump told CNBC’s Joe Kernen on Monday that he believes China will make a deal with the U.S. “because they’re going to have to.”

“Right now, China is getting absolutely decimated by companies that are leaving China, going to other countries, including our own, because they don’t want to pay the tariffs,” Trump said.

Trump and Chinese leader Xi Jinping are set to meet at the G-20 Summit later this month after both countries slapped tariffs and made tit-for-tat threats. Trump said Monday if Xi skips the meeting, more China tariffs will go into effect immediately. Trump had threatened to impose duties on another $300 billion in Chinese goods if they can’t strike a deal soon.

“You have to be impressive by how resilient the U.S. stock market continues to be in the face of all the uncertainties,” said Jim Solloway, chief market strategist at SEI Investments. “It just shows the underlying forces that affect stock prices remains resilient and healthy. The market is reacting to the underlying strength of the economy and resilience, and I don’t see that suddenly crumpling even in the face of additional Chinese tariffs.”

Stocks were sent to a downward spiral by a Trump tweet on May 5 threatening to impose tariffs on Chinese imports. The Dow posted a six-week losing streak, while the S&P 500 suffered its worst month since December in May amid the escalated trade war. Now the market has made back most of the losses with the Dow about 3% from its all-time high.

The White House acting budget chief is reportedly seeking to delay the restrictions on Chinese telecom giant Huawei, which would halt its ability to purchase U.S.-made chips. Chipmakers Nvidia and Advanced Micro Devices gained 2% and 2.5% respectively on Monday following the news.


Company: cnbc, Activity: cnbc, Date: 2019-06-09  Authors: yun li
Keywords: news, cnbc, companies, straight, market, day, trump, trade, sixth, 70, chinese, china, mexico, xi, rises, points, dow, rose, tariffs, avoided


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F1 great and aviation entrepreneur Niki Lauda dies at 70

Niki Lauda of Austria and Mercedes during the Formula One Grand Prix of Japan at Suzuka Circuit on October 8, 2017 in Suzuka. Walter Klepetko, a doctor who performed a lung transplant on Lauda last year, said Tuesday: “Niki Lauda has died. Lauda won the F1 drivers’ championship in 1975 and 1977 with Ferrari and again in 1984 with McLaren. “Rest in peace Niki Lauda. Lauda joined Ferrari in ’74, winning a Grand Prix for the first time that year in Spain.


Niki Lauda of Austria and Mercedes during the Formula One Grand Prix of Japan at Suzuka Circuit on October 8, 2017 in Suzuka. Walter Klepetko, a doctor who performed a lung transplant on Lauda last year, said Tuesday: “Niki Lauda has died. Lauda won the F1 drivers’ championship in 1975 and 1977 with Ferrari and again in 1984 with McLaren. “Rest in peace Niki Lauda. Lauda joined Ferrari in ’74, winning a Grand Prix for the first time that year in Spain.
F1 great and aviation entrepreneur Niki Lauda dies at 70 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21
Keywords: news, cnbc, companies, dies, 70, won, aviation, entrepreneur, world, niki, prix, family, drive, lauda, formula, drivers, great, f1, grand


F1 great and aviation entrepreneur Niki Lauda dies at 70

Niki Lauda of Austria and Mercedes during the Formula One Grand Prix of Japan at Suzuka Circuit on October 8, 2017 in Suzuka.

Formula One great Niki Lauda, who won two of his world titles after a horrific crash that left him with serious burns and went on to become a prominent figure in the aviation industry, has died. He was 70.

Lauda’s family issued a statement saying the three-time world champion “passed away peacefully” on Monday, the Austria Press Agency reported.

Walter Klepetko, a doctor who performed a lung transplant on Lauda last year, said Tuesday: “Niki Lauda has died. I have to confirm that.”

“His unique successes as a sportsman and entrepreneur are and remain unforgettable,” the family statement said. “His tireless drive, his straightforwardness and his courage remain an example and standard for us all. Away from the public gaze he was a loving and caring husband, father and grandfather. We will miss him very much.”

Lauda won the F1 drivers’ championship in 1975 and 1977 with Ferrari and again in 1984 with McLaren.

In 1976, he was badly burned when he crashed during the German Grand Prix, but he made an astonishingly fast return to racing just six weeks later.

Lauda remained closely involved with the F1 circuit after retiring as a driver in 1985, and in recent years served as the non-executive chairman of the Mercedes team.

to acknowledge Lauda’s contribution to the sport.

“Rest in peace Niki Lauda. Forever carried in our hearts, forever immortalized in our history,” the post said. “The motorsport community today mourns the devastating loss of a true legend.”

Born on Feb. 22, 1949 into a wealthy Vienna family, Nikolaus Andreas Lauda was expected to follow his father into the paper-manufacturing industry, but instead concentrated his business talents and determination on his dreams of becoming a racing driver.

Austrian Chancellor Sebastian Kurz said “Niki, we will miss you.”

“The whole country and the motor sports world are mourning a really great Austrian,” Kurz wrote on Twitter.

Austrian President Alexander Van der Bellen paid tribute to Lauda as “an idol and an ambitious fighter who never gave up.”

Lauda financed his early career with the help of a string of loans, working his way through the ranks of Formula 3 and Formula 2. He made his Formula 1 debut for the March team at the 1971 Austrian Grand Prix and picked up his first points in 1973 with a fifth-place finish for BRM in Belgium.

Lauda joined Ferrari in ’74, winning a Grand Prix for the first time that year in Spain. He won his first drivers’ title with five victories the following season.

Facing tough competition from McLaren’s James Hunt — their rivalry featured in the Ron Howard-directed movie Rush — Lauda appeared on course to defend his title in 1976 when he crashed at the Nuerburgring during the German Grand Prix. Several drivers stopped to help pull him from the burning car, but the accident would scar him for life. The baseball cap Lauda almost always wore in public became a personal trademark.

“The main damage, I think to myself, was lung damage from inhaling all the flames and fumes while I was sitting in the car for about 50 seconds,” he recalled nearly a decade later. “It was something like 800 degrees.”

Lauda fell into a coma for a time. He said that “for three or four days it was touch and go.”

“Then my lungs recovered and I got my skin grafts done, then basically there was nothing left,” he added. “I was really lucky in a way that I didn’t do any (other) damage to myself. So the real question was then will I be able to drive again, because certainly it was not easy to come back after a race like that.”

Lauda made his comeback just six weeks after the crash, finishing fourth at Monza after overcoming his initial fears.

He recalled “shaking with fear” as he changed into second gear on the first day of practice and thinking, “I can’t drive.”

The next day, Lauda said he “started very slowly trying to get all the feelings back, especially the confidence that I’m capable of driving these cars again.” The result, he said, boosted his confidence and after four or five races “I had basically overcome the problem of having an accident and everything went back to normal.”

He won his second championship in 1977 before switching to Brabham and then retiring in 1979 to concentrate on setting up his airline, Lauda Air, declaring that he “didn’t want to drive around in circles anymore.”

Lauda came out of retirement in 1982 after a big-money offer from McLaren, reportedly about $3 million a year.


Company: cnbc, Activity: cnbc, Date: 2019-05-21
Keywords: news, cnbc, companies, dies, 70, won, aviation, entrepreneur, world, niki, prix, family, drive, lauda, formula, drivers, great, f1, grand


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Alphabet had more than $70 billion in market cap wiped out, and it says YouTube is one of the problems

On Monday, after reporting that ad revenue grew 15% versus the 24% it saw a year ago, Google’s parent company Alphabet saw its stock punished. Porat didn’t expand on precisely what changes at YouTube led to the poor ad revenue growth, and Google isn’t saying anything beyond her statements from Monday. But that cleanup appears to have come at the short-term cost of ad revenue growth. Investors punished the company on Monday by vaporizing more than $70 billion from its market cap. Correction: An e


On Monday, after reporting that ad revenue grew 15% versus the 24% it saw a year ago, Google’s parent company Alphabet saw its stock punished. Porat didn’t expand on precisely what changes at YouTube led to the poor ad revenue growth, and Google isn’t saying anything beyond her statements from Monday. But that cleanup appears to have come at the short-term cost of ad revenue growth. Investors punished the company on Monday by vaporizing more than $70 billion from its market cap. Correction: An e
Alphabet had more than $70 billion in market cap wiped out, and it says YouTube is one of the problems Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: steve kovach
Keywords: news, cnbc, companies, youtube, 70, revenue, company, youtubes, ad, cap, wiped, content, growth, billion, market, google, changes, alphabet, videos, problems


Alphabet had more than $70 billion in market cap wiped out, and it says YouTube is one of the problems

Google has a YouTube problem, according to CFO Ruth Porat.

On Monday, after reporting that ad revenue grew 15% versus the 24% it saw a year ago, Google’s parent company Alphabet saw its stock punished. It fell more than 8% Tuesday afternoon.

According to Porat, YouTube was one of the culprits.

“While YouTube clicks continue to grow at a substantial pace in the first quarter, the rate of YouTube click growth rate decelerated versus a strong Q1 last year, reflecting changes that we made in early 2018, which we believe are overall additive to the user and advertiser experience,” Porat said on the company’s earnings call Monday.

Porat didn’t expand on precisely what changes at YouTube led to the poor ad revenue growth, and Google isn’t saying anything beyond her statements from Monday.

But if you wind the clock back a year, it’s easy to see what happened.

In the first quarter of 2018, Google began making changes to YouTube’s algorithms designed to stop harmful content from appearing in the feed of recommended videos you see on the side of a video page.

The goal was to make it harder to find videos full of conspiracy theories, fake news and all that other detritus that occasionally sent advertisers fleeing from the platform. Instead of YouTube directing you to a conspiracy theory about the latest school shooting, you were shown related videos from “authoritative” news sources the company considered worthy of bringing you accurate information.

On top of that, YouTube has removed millions of channels and videos that violated the company’s harmful content policies, most notably Alex Jones.

But all of those garbage videos also kept engagement high. It kept YouTube users tuned in to their feeds beyond the video they came to watch, even if the company said they only made up less than 1% of all videos on the site.

YouTube was literally incentivized to keep its algorithms pumping junk to the top of people’s feeds so people would keep watching and the ad dollars would keep flowing. A devastating Bloomberg report earlier this month showed that for years YouTube executives ignored warnings from their own employees that the misinformation and nastiness on the site had gotten out of hand.

For a long time, they chose the money over managing the mayhem.

Today, YouTube says it’s serious about cleaning up the issues that have plagued the site for years. But that cleanup appears to have come at the short-term cost of ad revenue growth. (Although it’s possible that Porat was referring to other types of changes, or engaging in some selective disclosure to guide investors away from other reasons for the growth slowdown.)

Investors punished the company on Monday by vaporizing more than $70 billion from its market cap.

But if YouTube can fix its content problems and continue to grow beyond its nearly 2 billion users, it has a chance to benefit in the long term.

The new system is still far from perfect, as The New York Times’ Kevin Roose pointed out in an interview with YouTube’s chief product officer, Neal Mohan. It’s still possible to fall down a rabbit hole of horrible videos on YouTube. But, based on Porat’s comments, the changes were effective enough to hurt YouTube engagement.

In a statement to CNBC, a Google spokesperson downplayed the amount of revenue generated by bad content on YouTube. The statement did not address the impact removing that content had on revenue growth.

“There’s a misconception that YouTube makes money off of recommending ‘radical’ content, but the truth is that very little of this content makes any kind of meaningful money. In fact, when we cleaned up our partner program to remove bad actors last year, we made it clear that 99% of those impacted creators were making less than $100 a year,” the statement said.

Still, analysts on Tuesday didn’t sound too worried about YouTube’s longer-term prospects, and cautioned there are other factors playing into the ad growth deceleration.

“YouTube has increased its focus on responsibility and safety, and it adjusted its algorithm in 1Q to reduce recommendations of content that comes close to violating guidelines or is misinformed or harmful,” J.P. Morgan analysts wrote in a research note Tuesday morning. They added that, “we don’t think there’s a single clear answer for Google’s [deceleration], but a number of factors are at work.”

With billions in market cap gone and analysts already downgrading Alphabet’s stock, the biggest question surrounding YouTube today is whether it will continue making improvements to curb the spread of toxic content or be shocked back into inaction for the benefit of its shareholders.

Correction: An earlier version of this story linked to the wrong YouTube blog post announcing changes to content moderation.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: steve kovach
Keywords: news, cnbc, companies, youtube, 70, revenue, company, youtubes, ad, cap, wiped, content, growth, billion, market, google, changes, alphabet, videos, problems


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Apple stock should surge more than 70% in the next 24 months, tech investor Gene Munster predicts

Tech investor Gene Munster is not predicting a blowout number when Apple reports quarterly numbers on Tuesday afternoon. But, he holds one of the most bullish views on Wall Street. Munster predicts Apple stock will rally more than 70% in the next 24 months. Munster, who covered the tech sector for two decades at Piper Jaffray, is considered one of the Street’s leading experts on Apple. Apple warned in in January quarterly iPhone sales would likely be below Wall Street expectations.


Tech investor Gene Munster is not predicting a blowout number when Apple reports quarterly numbers on Tuesday afternoon. But, he holds one of the most bullish views on Wall Street. Munster predicts Apple stock will rally more than 70% in the next 24 months. Munster, who covered the tech sector for two decades at Piper Jaffray, is considered one of the Street’s leading experts on Apple. Apple warned in in January quarterly iPhone sales would likely be below Wall Street expectations.
Apple stock should surge more than 70% in the next 24 months, tech investor Gene Munster predicts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: stephanie landsman
Keywords: news, cnbc, companies, street, apple, iphone, 70, months, services, share, surge, gene, predicts, think, investor, tech, wall, stock, munster


Apple stock should surge more than 70% in the next 24 months, tech investor Gene Munster predicts

Tech investor Gene Munster is not predicting a blowout number when Apple reports quarterly numbers on Tuesday afternoon.

But, he holds one of the most bullish views on Wall Street. Munster predicts Apple stock will rally more than 70% in the next 24 months.

“There’s meaningful upside to the Apple story. I suspect that this year, Apple will be the best-performing FAANG stock,” the Loup Ventures managing partner said Friday on CNBC’s “Trading Nation ” segment. “I think this can be closer to $350 [a share]. … I know historically it has not gotten the multiple. But I think that will slowly change.”

When the iPhone maker reports fiscal second quarter numbers, Munster expects earnings per share and revenue to be slightly above Street estimates. According to FactSet, analysts are expecting Apple to earn $2.37 a share on $57.6 billion in revenue.

Munster, who covered the tech sector for two decades at Piper Jaffray, is considered one of the Street’s leading experts on Apple. He sees the tech landscape driving the stock to new highs, especially when 5G phones become a reality.

“The real hurdle, if you were going to boil this whole earnings call down to one number, it’s simply the services growth,” he said. “I know this has been a particular … area of focus over the last couple of years. But it is even more important now, given some of the sizzle out of the iPhone story is a little muted for the next few quarters.”

Apple has outperformed the S&P 500 by 14% since the December low. The stock is up 39% since then, and 24% over the past 12 months.

But the run hasn’t come without challenges. Apple warned in in January quarterly iPhone sales would likely be below Wall Street expectations. And Microsoft has overtaken Apple as the world’s most valuable company.

However, Munster suggests there’s enough in the pipeline to push Apple shares higher.

“Longer term, there are obviously opportunities on services for products that they can have, whether it’s this gaming, this arcade service, or this video streaming service,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: stephanie landsman
Keywords: news, cnbc, companies, street, apple, iphone, 70, months, services, share, surge, gene, predicts, think, investor, tech, wall, stock, munster


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Apple stock should surge more than 70% in the next 24 months, tech investor Gene Munster predicts

Tech investor Gene Munster is not predicting a blowout number when Apple reports quarterly numbers on Tuesday afternoon. But, he holds one of the most bullish views on Wall Street. Munster predicts Apple stock will rally more than 70% in the next 24 months. Munster, who covered the tech sector for two decades at Piper Jaffray, is considered one of the Street’s leading experts on Apple. Apple warned in in January quarterly iPhone sales would likely be below Wall Street expectations.


Tech investor Gene Munster is not predicting a blowout number when Apple reports quarterly numbers on Tuesday afternoon. But, he holds one of the most bullish views on Wall Street. Munster predicts Apple stock will rally more than 70% in the next 24 months. Munster, who covered the tech sector for two decades at Piper Jaffray, is considered one of the Street’s leading experts on Apple. Apple warned in in January quarterly iPhone sales would likely be below Wall Street expectations.
Apple stock should surge more than 70% in the next 24 months, tech investor Gene Munster predicts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: stephanie landsman
Keywords: news, cnbc, companies, investor, services, apple, tech, iphone, wall, predicts, munster, 70, stock, street, gene, share, think, months, surge


Apple stock should surge more than 70% in the next 24 months, tech investor Gene Munster predicts

Tech investor Gene Munster is not predicting a blowout number when Apple reports quarterly numbers on Tuesday afternoon.

But, he holds one of the most bullish views on Wall Street. Munster predicts Apple stock will rally more than 70% in the next 24 months.

“There’s meaningful upside to the Apple story. I suspect that this year, Apple will be the best-performing FAANG stock,” the Loup Ventures managing partner said Friday on CNBC’s “Trading Nation ” segment. “I think this can be closer to $350 [a share]. … I know historically it has not gotten the multiple. But I think that will slowly change.”

When the iPhone maker reports fiscal second quarter numbers, Munster expects earnings per share and revenue to be slightly above Street estimates. According to FactSet, analysts are expecting Apple to earn $2.37 a share on $57.6 billion in revenue.

Munster, who covered the tech sector for two decades at Piper Jaffray, is considered one of the Street’s leading experts on Apple. He sees the tech landscape driving the stock to new highs, especially when 5G phones become a reality.

“The real hurdle, if you were going to boil this whole earnings call down to one number, it’s simply the services growth,” he said. “I know this has been a particular … area of focus over the last couple of years. But it is even more important now, given some of the sizzle out of the iPhone story is a little muted for the next few quarters.”

Apple has outperformed the S&P 500 by 14% since the December low. The stock is up 39% since then, and 24% over the past 12 months.

But the run hasn’t come without challenges. Apple warned in in January quarterly iPhone sales would likely be below Wall Street expectations. And Microsoft has overtaken Apple as the world’s most valuable company.

However, Munster suggests there’s enough in the pipeline to push Apple shares higher.

“Longer term, there are obviously opportunities on services for products that they can have, whether it’s this gaming, this arcade service, or this video streaming service,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: stephanie landsman
Keywords: news, cnbc, companies, investor, services, apple, tech, iphone, wall, predicts, munster, 70, stock, street, gene, share, think, months, surge


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