Barry lost some bite, but these 10 cities could lose billions in housing to floods by 2050

of rain in places as it stormed up the Mississippi River Valley from Louisiana and Alabama to Arkansas and as far north as Ontario, Canada, this week. Although the weather system did less damage than initially feared, some experts say that, thanks to climate change, things will only get worse going forward. Andreas Prein, project scientist with the National Center for Atmospheric Research, recently told the New York Times that climate change is upping both the frequency and intensity of heavy ra


of rain in places as it stormed up the Mississippi River Valley from Louisiana and Alabama to Arkansas and as far north as Ontario, Canada, this week. Although the weather system did less damage than initially feared, some experts say that, thanks to climate change, things will only get worse going forward. Andreas Prein, project scientist with the National Center for Atmospheric Research, recently told the New York Times that climate change is upping both the frequency and intensity of heavy ra
Barry lost some bite, but these 10 cities could lose billions in housing to floods by 2050 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: kenneth kiesnoski
Keywords: news, cnbc, companies, zillow, weather, housing, billions, barry, worth, things, risk, homes, bite, lose, 2050, lost, affected, flooding, floods, cities, change, climate


Barry lost some bite, but these 10 cities could lose billions in housing to floods by 2050

Hurricane Barry dumped more than 23 in. of rain in places as it stormed up the Mississippi River Valley from Louisiana and Alabama to Arkansas and as far north as Ontario, Canada, this week. Although the weather system did less damage than initially feared, some experts say that, thanks to climate change, things will only get worse going forward.

Andreas Prein, project scientist with the National Center for Atmospheric Research, recently told the New York Times that climate change is upping both the frequency and intensity of heavy rainfall storms.

Where does that leave homeowners? Within three decades more than 386,000 homes in coastal areas of the U.S. will be at risk of permanent submersion or regular flooding due to climate change, according to a recent study by real estate website Zillow and nonprofit weather news site Climate Central.

About 40% of the American population may be affected to some degree. Those residences are collectively worth nearly $210 billion in 2018 dollars, according to Zillow; in the top 10 cities likely affected, losses could total more than $34 billion. Things look even more grim further out in time: By 2100 some 2.5 million homes nationwide, worth about $1.3 trillion altogether, could be at risk if the scientific data and resulting computer models are correct.

Here are the 10 cities predicted to be worst affected by 2050, along with the amount of local housing affected by flooding and its value.

Source: Zillow.com

Updated 18 July 2019. Originally published 14 March 2019.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: kenneth kiesnoski
Keywords: news, cnbc, companies, zillow, weather, housing, billions, barry, worth, things, risk, homes, bite, lose, 2050, lost, affected, flooding, floods, cities, change, climate


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How your money might be affected if the Fed cuts interest rates

A rate cut could hurt savers with high-yield accountsThe federal funds rate is used as the benchmark for many consumer interest rates. Variable credit card interest rates are tied to the prime rate, for example, which is closely related to the federal funds rate, Hamrick says. The Fed does not directly set mortgage rates, but cutting the benchmark rate could still impact your mortgage. “But a drop in the fed funds rate will contribute to mortgage rates remaining low into the future.” If you hold


A rate cut could hurt savers with high-yield accountsThe federal funds rate is used as the benchmark for many consumer interest rates. Variable credit card interest rates are tied to the prime rate, for example, which is closely related to the federal funds rate, Hamrick says. The Fed does not directly set mortgage rates, but cutting the benchmark rate could still impact your mortgage. “But a drop in the fed funds rate will contribute to mortgage rates remaining low into the future.” If you hold
How your money might be affected if the Fed cuts interest rates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: alicia adamczyk
Keywords: news, cnbc, companies, federal, funds, hamrick, affected, economy, money, credit, rates, cut, interest, rate, mortgage, cuts, fed


How your money might be affected if the Fed cuts interest rates

Jerome Powell, chairman of the U.S. Federal Reserve, said that downside risks to the economy remain with trade wars softening business investment and weak inflation.

Federal Reserve Chairman Jerome Powell said Wednesday that the U.S.’s uncertain economic outlook could lead the central bank to cut its benchmark short-term interest rate later this month. Experts say the cut would likely be a modest quarter of a percentage point. The rate cut would be a result of a confluence of factors, including uncertainty over a U.S-China trade war and a slowing economy. How would a rate cut — the first since 2008 — impact the average consumer? While it’s hard to predict, generally, a rate cut is “good for borrowers, bad for savers, and mixed for investors,” Sallie Krawcheck, co-founder and CEO of Ellevest and former Wall Street executive, tells CNBC Make It.

A rate cut could hurt savers with high-yield accounts

The federal funds rate is used as the benchmark for many consumer interest rates. Already, some banks — including Ally and Marcus by Goldman Sachs — have cut yields on some of their retail products, including savings accounts, in anticipation of the central bank’s actions. Experts say savers can also expect CD rates to fall ahead of the Fed’s decision. The exact impact is still unknown, says Mark Hamrick, Bankrate.com senior economic analyst. Although savings account APYs might decrease, he says, many traditional banks never increased them significantly anyway; the national average rate is still 0.10%.

A rate cut helps borrowers with credit card debt

An interest rate cut is bad news for savers, “but it is something of an unexpected gift for borrowers and investors,” says Hamrick. Variable credit card interest rates are tied to the prime rate, for example, which is closely related to the federal funds rate, Hamrick says. So, with the federal funds rate dropping, a card holder could see a drop in their APR within a billing cycle or two, which means smaller monthly payments. Credit card interest rates are currently at a record high, so any breathing room would be a boon to those carrying credit card debt. Still, a slight cut won’t save borrowers much when they are facing double-digit interest rates; it’s important to make a plan to pay off any balance as soon as possible.

Mortgages are more complicated

Mortgage rates are a bit trickier, says Hamrick. The Fed does not directly set mortgage rates, but cutting the benchmark rate could still impact your mortgage. Investors typically rush to the relative safety of bonds when the economy falters. As a result, recent lower bond yields have led to substantially lower mortgage rates since the end of 2018. Cutting rates could potentially reverse that, Hamrick says, as it signals an improving economy. On another front, Skylar Olsen, Zillow’s director of economic research, tells CNBC Make It that other economic factors have more influence on mortgage rates. “The typical 30-year mortgage rate is responding more to uncertainties on a global stage due to trade war concerns and early stage softening in the economy in general than in the fed funds rate,” says Olsen. “But a drop in the fed funds rate will contribute to mortgage rates remaining low into the future.”

Some other loans might be impacted

Consumers with home equity lines of credit would also benefit from lower interest rates, while auto loans should not be materially affected by the change. Federal student loan rates are set by the Department of Education each year, based on the 10-year Treasury note, and are expected to fall next year. Private loan rates might be variable, and therefore could be indirectly influenced by the Fed’s decision. If you hold private loans, it could be worth exploring refinancing options if the Fed drops interest rates.

Overall the effects are mixed


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: alicia adamczyk
Keywords: news, cnbc, companies, federal, funds, hamrick, affected, economy, money, credit, rates, cut, interest, rate, mortgage, cuts, fed


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Apple recalls some MacBook Pro laptops because they pose a ‘fire safety risk’

Apple announced on Thursday that it will recall some 15-inch MacBook Pro laptops because they have batteries that may “overheat and pose a fire safety risk.” The affected laptops are an older design, without the Touch Bar keyboard, and were sold between September 2015 and February 2017. The specific model affected is listed as “MacBook Pro (Retina, 15-inch, Mid 2015)” in system settings. “Customer safety is always Apple’s top priority, and we have voluntarily decided to replace affected batterie


Apple announced on Thursday that it will recall some 15-inch MacBook Pro laptops because they have batteries that may “overheat and pose a fire safety risk.” The affected laptops are an older design, without the Touch Bar keyboard, and were sold between September 2015 and February 2017. The specific model affected is listed as “MacBook Pro (Retina, 15-inch, Mid 2015)” in system settings. “Customer safety is always Apple’s top priority, and we have voluntarily decided to replace affected batterie
Apple recalls some MacBook Pro laptops because they pose a ‘fire safety risk’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: kif leswing
Keywords: news, cnbc, companies, recalls, pro, computers, safety, free, keyboard, affected, macbook, laptops, risk, recall, apple, pose, batteries


Apple recalls some MacBook Pro laptops because they pose a 'fire safety risk'

An attendee touches the Trackpad on the new MacBook Pro laptop computer inside the new Apple store Saint Germain during the press day on December 01, 2016 in Paris, France.

Apple announced on Thursday that it will recall some 15-inch MacBook Pro laptops because they have batteries that may “overheat and pose a fire safety risk.”

The affected laptops are an older design, without the Touch Bar keyboard, and were sold between September 2015 and February 2017. The specific model affected is listed as “MacBook Pro (Retina, 15-inch, Mid 2015)” in system settings.

Apple said that the recall does not affect any other Mac laptops. To check if your device is affected, Apple published a website where you can input your computer’s serial number. Apple will replace the battery free of charge, according to its announcement.

“Customer safety is always Apple’s top priority, and we have voluntarily decided to replace affected batteries, free of charge,” Apple said on its website.

The affected laptops are a previous-generation design, and are not the same models as the current MacBook Pro with Touch Bar. Those computers have a “butterfly” keyboard which has been criticized by Apple users for being unreliable, and those computers are currently covered by an Apple service program that replaces the keyboard for free if it starts malfunctioning.

Battery issues are not uncommon in consumer electronics. The most famous example of a recall associated with overheating batteries was Samsung’s Galaxy Note 7 smartphone, which caught fire because of issues with its batteries.


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: kif leswing
Keywords: news, cnbc, companies, recalls, pro, computers, safety, free, keyboard, affected, macbook, laptops, risk, recall, apple, pose, batteries


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These 10 cities could lose $34 billion-plus in housing to coastal floods by 2050

Within three decades more than 386,000 homes in coastal areas of the U.S. will be at risk of permanent submersion or regular flooding due to climate change, according to a recent study by real estate website Zillow and nonprofit weather news site Climate Central. About 40 percent of the American population may be affected to some degree. Those residences are collectively worth nearly $210 billion in 2018 dollars, according to Zillow; in the top 10 cities likely affected, losses could total more


Within three decades more than 386,000 homes in coastal areas of the U.S. will be at risk of permanent submersion or regular flooding due to climate change, according to a recent study by real estate website Zillow and nonprofit weather news site Climate Central. About 40 percent of the American population may be affected to some degree. Those residences are collectively worth nearly $210 billion in 2018 dollars, according to Zillow; in the top 10 cities likely affected, losses could total more
These 10 cities could lose $34 billion-plus in housing to coastal floods by 2050 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: kenneth kiesnoski, pickstock, getty images, sky noir photography bill dickinson, moment, denistangneyjr, denis jr tangney, matteo colombo, digitalvision
Keywords: news, cnbc, companies, billionplus, zillow, cities, billion, flooding, risk, climate, 2050, floods, homes, housing, lose, 34, worth, coastal, according, affected


These 10 cities could lose $34 billion-plus in housing to coastal floods by 2050

Within three decades more than 386,000 homes in coastal areas of the U.S. will be at risk of permanent submersion or regular flooding due to climate change, according to a recent study by real estate website Zillow and nonprofit weather news site Climate Central.

About 40 percent of the American population may be affected to some degree. Those residences are collectively worth nearly $210 billion in 2018 dollars, according to Zillow; in the top 10 cities likely affected, losses could total more than $34 billion. Things look even more grim further out in time: By 2100 some 2.5 million homes nationwide, worth about $1.3 trillion altogether, could be at risk if the scientific data and resulting computer models are correct.

Here are the 10 cities predicted to be worst affected by 2050, along with the amount of local housing affected by flooding and its value.

Source: Zillow.com


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: kenneth kiesnoski, pickstock, getty images, sky noir photography bill dickinson, moment, denistangneyjr, denis jr tangney, matteo colombo, digitalvision
Keywords: news, cnbc, companies, billionplus, zillow, cities, billion, flooding, risk, climate, 2050, floods, homes, housing, lose, 34, worth, coastal, according, affected


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Facebook has been down for hours, Instagram and WhatsApp also affected

Facebook users around the world reported issues logging into and posting on the site as well as on Instagram and WhatsApp thoughout the day on Wednesday. Reports of problems with Facebook peaked at over 11,000 worldwide according to Downdetector, a website where users can report problems on apps and websites. Facebook users posted screenshots on Twitter showing error messages when they tried to load the app. Technical issues with Facebook have historically posed serious problems for advertisers


Facebook users around the world reported issues logging into and posting on the site as well as on Instagram and WhatsApp thoughout the day on Wednesday. Reports of problems with Facebook peaked at over 11,000 worldwide according to Downdetector, a website where users can report problems on apps and websites. Facebook users posted screenshots on Twitter showing error messages when they tried to load the app. Technical issues with Facebook have historically posed serious problems for advertisers
Facebook has been down for hours, Instagram and WhatsApp also affected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: lauren feiner, christophe morin, getty images news, getty images
Keywords: news, cnbc, companies, video, users, affected, site, facebook, websites, issues, whatsapp, reported, outage, problems, hours, worldwide, instagram


Facebook has been down for hours, Instagram and WhatsApp also affected

Facebook users around the world reported issues logging into and posting on the site as well as on Instagram and WhatsApp thoughout the day on Wednesday. Facebook did not give a reason for the outage, and provided minimal information other than acknowledging it is aware services are down in some areas.

Facebook shares were relatively unchanged Wednesday afternoon.

The company acknowledged the outage in a tweet Wednesday, saying, “We’re aware that some people are currently having trouble accessing the Facebook family of apps. We’re working to resolve the issue as soon as possible.”

It later confirmed the problem was not the result of a DDoS attack, which refers to a Distributed Denial-of-Service attack in which a hacker overwhelms a site by flooding it with fake traffic.

Reports of problems with Facebook peaked at over 11,000 worldwide according to Downdetector, a website where users can report problems on apps and websites. Downdetector listed zero problems by about 5 p.m. Eastern, and many people reported their access had been restored, but Facebook has not yet confirmed the issues were resolved.

Users reported a variety of problems, from being unable to load the site at all to not being able to post comments. Facebook users posted screenshots on Twitter showing error messages when they tried to load the app. When loading the site, some users’ got a message on the screen saying “Account Temporarily Unavailable.”

At a Facebook event at the South by Southwest conference in Austin, Texas Wednesday, the company’s head of video products cracked a joke when he ran into technical issues.

“Today is the technical difficulties day for Facebook, I guess,” cracked Paresh Rajwat, in a reference to the company’s worldwide service outage when his presentation’s video failed to include audio. Rajwat was announcing new features for Facebook’s Watch video service.

Technical issues with Facebook have historically posed serious problems for advertisers who use the platform and even other websites.

Facebook previously experienced an outage of its tool for advertisers in November at a time when marketers were trying to place ads for Black Friday and Cyber Monday.

In 2013, Facebook experienced a glitch which took several websites down with it thanks to the prevalence of its login feature across the internet. When users tried to log into a website with their Facebook profile, they were directed to a Facebook error page, Business Insider reported at the time. The glitch, which only lasted a few minutes, affected websites including The New York Times and CNN, Business Insider reported.

Subscribe to CNBC on YouTube.

Watch: Zuckerberg’s push to make posts private could cause more misinformation, says expert


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: lauren feiner, christophe morin, getty images news, getty images
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A ‘no-deal’ Brexit could hit 100,000 German jobs, study claims

A U.K. exit from the European Union (EU) with no pre-arranged deal could affect more than 100,000 jobs in Germany, according to a new academic study. Researchers assumed that British imports from the European Union would collapse by 25 percent following a contract-free exit. At that decline, the authors estimated around 612,000 employed people in 43 countries around the world would be affected. They then estimated that, in- terms of overall employment, Germany would be the worst hit of all the c


A U.K. exit from the European Union (EU) with no pre-arranged deal could affect more than 100,000 jobs in Germany, according to a new academic study. Researchers assumed that British imports from the European Union would collapse by 25 percent following a contract-free exit. At that decline, the authors estimated around 612,000 employed people in 43 countries around the world would be affected. They then estimated that, in- terms of overall employment, Germany would be the worst hit of all the c
A ‘no-deal’ Brexit could hit 100,000 German jobs, study claims Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: david reid, krisztian bocsi, bloomberg, getty images
Keywords: news, cnbc, companies, worst, affected, nodeal, brexit, jobs, uk, countries, union, european, employed, german, study, claims, hit, 100000, germany


A 'no-deal' Brexit could hit 100,000 German jobs, study claims

A U.K. exit from the European Union (EU) with no pre-arranged deal could affect more than 100,000 jobs in Germany, according to a new academic study.

The Leibniz Institute for Economic Research Halle (IWH) and the Martin Luther University Halle-Wittenberg looked at the effect of a hard Brexit, breaking it down to the impact on countries, districts and cities.

Researchers assumed that British imports from the European Union would collapse by 25 percent following a contract-free exit. At that decline, the authors estimated around 612,000 employed people in 43 countries around the world would be affected.

They then estimated that, in- terms of overall employment, Germany would be the worst hit of all the countries that the U.K. trades with, offering a potential impact on more than 100,000 jobs.

The report, published last week, said that the motor industry is the sector most affected by Brexit, noting that in Germany alone around 15,000 people are employed solely to facilitate exports to the U.K.

Around 59,000 jobs servicing Chinese buying of U.K. imports would also be affected according to the study, although these would be related to intermediary companies rather than direct Chinese employees.

Relative to a country’s size, Ireland and Malta rate the worst with as many as 1 and 1.7 percent of people employed in those countries affected by a “no-deal” Brexit, respectively.

The prospect of the U.K. leaving the EU without a deal is a risk, especially after the British Parliament rejected a draft agreement reached between Prime Theresa May’s government and the European Union.

Britain is due to leave the 28-nation bloc at 11:00 p.m. GMT on March 29.


Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: david reid, krisztian bocsi, bloomberg, getty images
Keywords: news, cnbc, companies, worst, affected, nodeal, brexit, jobs, uk, countries, union, european, employed, german, study, claims, hit, 100000, germany


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A reality check on how small businesses were really affected by the government shutdown: Survey

The recent government shutdown hit federal workers the hardest, with some 800,000 furloughed or forced to work without pay. But small businesses across the United States had to deal with unexpected trickle-down effects that caused disruption and uncertainty. The clearest problem for small businesses was the dropoff in customers, as many federal workers or contractors — or those with federal workers in their family — were suddenly less willing or less able to spend money. 4, polling more than 2,2


The recent government shutdown hit federal workers the hardest, with some 800,000 furloughed or forced to work without pay. But small businesses across the United States had to deal with unexpected trickle-down effects that caused disruption and uncertainty. The clearest problem for small businesses was the dropoff in customers, as many federal workers or contractors — or those with federal workers in their family — were suddenly less willing or less able to spend money. 4, polling more than 2,2
A reality check on how small businesses were really affected by the government shutdown: Survey Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: laura wronski, senior research scientist, jon cohen, chief research officer, jim young
Keywords: news, cnbc, companies, workers, check, owners, community, federal, really, survey, smallbusiness, loss, shutdown, small, revenue, businesses, reality, affected


A reality check on how small businesses were really affected by the government shutdown: Survey

The recent government shutdown hit federal workers the hardest, with some 800,000 furloughed or forced to work without pay. But small businesses across the United States had to deal with unexpected trickle-down effects that caused disruption and uncertainty.

As one small-business owner in Maryland noted, “I live in a community with several government agencies. When my community is affected, I am affected.”

The clearest problem for small businesses was the dropoff in customers, as many federal workers or contractors — or those with federal workers in their family — were suddenly less willing or less able to spend money.

According to the latest CNBC|SurveyMonkey Small Business Survey, 35 percent of small-business owners nationwide said they experienced a “sales slowdown” attributable to the lack of demand from nearby federal workers. Another 13 percent reported the “direct loss of revenue from a contract with a government agency.”

The survey was conducted by SurveyMonkey from Jan. 28–Feb. 4, polling more than 2,200 small-business owners across the country.

The degree of this revenue loss is tricky to measure, as small businesses span the full range of industries, from mom-and-pop corner stores to restaurants, health-care providers and technical consulting firms.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: laura wronski, senior research scientist, jon cohen, chief research officer, jim young
Keywords: news, cnbc, companies, workers, check, owners, community, federal, really, survey, smallbusiness, loss, shutdown, small, revenue, businesses, reality, affected


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Wells Fargo CEO on how bank is helping customers affected by government shutdown

Wells Fargo is working with customers that have been affected by the partial government shutdown, the bank’s President and CEO Tim Sloan told CNBC on Friday in a “Mad Money” interview. For many government workers, Friday marked their second missed paycheck as the longest-ever government shutdown continued into its 35th day. Earlier in the shutdown, Wells Fargo and several other banks began offering relief for customers that had been affected by the Washington, D.C., standoff, an effort that is i


Wells Fargo is working with customers that have been affected by the partial government shutdown, the bank’s President and CEO Tim Sloan told CNBC on Friday in a “Mad Money” interview. For many government workers, Friday marked their second missed paycheck as the longest-ever government shutdown continued into its 35th day. Earlier in the shutdown, Wells Fargo and several other banks began offering relief for customers that had been affected by the Washington, D.C., standoff, an effort that is i
Wells Fargo CEO on how bank is helping customers affected by government shutdown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, going, ceo, waive, customers, told, shutdown, fargo, helping, bank, affected, sloan, wells, fees


Wells Fargo CEO on how bank is helping customers affected by government shutdown

Wells Fargo is working with customers that have been affected by the partial government shutdown, the bank’s President and CEO Tim Sloan told CNBC on Friday in a “Mad Money” interview.

Roughly 800,000 federal employees have been furloughed — temporarily laid off — or asked to work without pay as a result of the shutdown, which stems from disagreements about border security between President Donald Trump and Democratic congressional leaders.

For many government workers, Friday marked their second missed paycheck as the longest-ever government shutdown continued into its 35th day.

Earlier in the shutdown, Wells Fargo and several other banks began offering relief for customers that had been affected by the Washington, D.C., standoff, an effort that is in full force at Wells Fargo, Sloan told CNBC’s Jim Cramer.

“If, as of November of last year, you had a direct deposit, which was the most recent information we had, we automatically started to waive overdraft fees,” he said. “We then reached out to customers to say, ‘Look, if you’re affected and you’ve got a loan from Wells Fargo, give us a call.'”

Now, Wells Fargo is in discussions with some 14,400 of its customers about the best ways to provide relief. So far, the two main prerogatives are waiving overdraft fees and extending payment deadlines, Sloan said Friday.

“What we’re going to do is we’re going to waive fees … [and] we’re going to extend payments, whether it’s a credit card, mortgage, you name it,” he told Cramer. “That’s what they’re asking us for right now and that’s what we’re doing.”

Later Friday, Trump announced an agreement to reopen the government for three weeks while he continued to pursue a deal with Congress to fund his proposed border wall. It would fund government operations through Feb. 15.


Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: elizabeth gurdus
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Marriott CEO says hotels aren’t a national security target, but experts beg to differ

Marriott CEO Arne Sorenson said Tuesday he doesn’t think the company is “going to be in anybody’s crosshairs” when it comes to national security concerns, but experts have pointed to China as the likely culprit for the company’s cybersecurity breach that affected over 300 million customers. Marriott originally said up to 500 million customers were affected by the breach, but revised the number down a few weeks later. Experts have told several outlets, including The New York Times and The Washing


Marriott CEO Arne Sorenson said Tuesday he doesn’t think the company is “going to be in anybody’s crosshairs” when it comes to national security concerns, but experts have pointed to China as the likely culprit for the company’s cybersecurity breach that affected over 300 million customers. Marriott originally said up to 500 million customers were affected by the breach, but revised the number down a few weeks later. Experts have told several outlets, including The New York Times and The Washing
Marriott CEO says hotels aren’t a national security target, but experts beg to differ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: kate fazzini, adam galica
Keywords: news, cnbc, companies, arent, target, ceo, hotels, beg, million, marriott, differ, china, national, weve, trade, security, sorenson, affected, breach, experts, think


Marriott CEO says hotels aren't a national security target, but experts beg to differ

Marriott CEO Arne Sorenson said Tuesday he doesn’t think the company is “going to be in anybody’s crosshairs” when it comes to national security concerns, but experts have pointed to China as the likely culprit for the company’s cybersecurity breach that affected over 300 million customers.

Sorenson’s interview with CNBC at the World Economic Forum in Davos, Switzerland, comes a few months after the company disclosed a massive hack that affected up to 383 million people and included 5.25 million unencrypted passport numbers. Marriott originally said up to 500 million customers were affected by the breach, but revised the number down a few weeks later.

Experts have told several outlets, including The New York Times and The Washington Post, that the hospitality industry is a top nation-state target, and the Marriott breach specifically was likely carried out as an intelligence-gathering effort by China’s Ministry of State Security.

Sorenson made the statement Tuesday while addressing increasing tensions with China over trade and legal issues.

“The China story, of course, is a little bit complicated, because we’ve got the trade and we’ve got a number of very high-profile events that have happened,” Sorenson said. “The China story is still a very constructive one in the travel space. We’re not in a business that is super sensitive from a national security perspective. And I don’t think we’re going to be in anybody’s crosshairs.”


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: kate fazzini, adam galica
Keywords: news, cnbc, companies, arent, target, ceo, hotels, beg, million, marriott, differ, china, national, weve, trade, security, sorenson, affected, breach, experts, think


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PayPal offers up to $500 credit for federal employees affected by shutdown

PayPal said on Friday it will offer $25 million in interest-free credit to its users who work with the U.S. federal government and are impacted by the shutdown. Employees who use PayPal Credit will be able to avail an advance of up to $500 each, without having to pay any interest, and the program will last until the government reopens and employees receive their first paycheck, the company said on its website. The partial shutdown, which hit the four-week mark on Friday, is the longest in U.S. h


PayPal said on Friday it will offer $25 million in interest-free credit to its users who work with the U.S. federal government and are impacted by the shutdown. Employees who use PayPal Credit will be able to avail an advance of up to $500 each, without having to pay any interest, and the program will last until the government reopens and employees receive their first paycheck, the company said on its website. The partial shutdown, which hit the four-week mark on Friday, is the longest in U.S. h
PayPal offers up to $500 credit for federal employees affected by shutdown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: mark neuling
Keywords: news, cnbc, companies, offers, shutdown, federal, 500, company, advance, business, users, pay, paypal, workers, credit, affected, employees


PayPal offers up to $500 credit for federal employees affected by shutdown

PayPal said on Friday it will offer $25 million in interest-free credit to its users who work with the U.S. federal government and are impacted by the shutdown.

Employees who use PayPal Credit will be able to avail an advance of up to $500 each, without having to pay any interest, and the program will last until the government reopens and employees receive their first paycheck, the company said on its website.

The partial shutdown, which hit the four-week mark on Friday, is the longest in U.S. history. The shutdown means 800,000 federal workers nationwide would continue to go unpaid and some government functions would remain impaired.

The shutdown also clouds the outlook for spending, retailers and the economy at large because executives and policymakers weigh not just the direct impact of 800,000 federal workers going without pay, but also how much it can hurt consumer and business confidence.

PayPal said it will take up to three business days to deposit the cash advance into user’s accounts from the date the company verifies their employment.


Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: mark neuling
Keywords: news, cnbc, companies, offers, shutdown, federal, 500, company, advance, business, users, pay, paypal, workers, credit, affected, employees


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