‘Hope not,’ Trump says when asked if the United States will go to war with Iran

US President Donald Trump (L) greets Switzerland’s President Ueli Maurer before a meeting at the White House on May 16, 2019, in Washington, DC. Meanwhile, members of Congress blasted the Trump administration for leaving them in the dark about details of the situation with Iran — and House Speaker Nancy Pelosi said Trump lacks authority to declare war on Iran. Within hours of Trump making that public comment, The New York Times reported that the president has told acting Defense Secretary Patric


US President Donald Trump (L) greets Switzerland’s President Ueli Maurer before a meeting at the White House on May 16, 2019, in Washington, DC. Meanwhile, members of Congress blasted the Trump administration for leaving them in the dark about details of the situation with Iran — and House Speaker Nancy Pelosi said Trump lacks authority to declare war on Iran. Within hours of Trump making that public comment, The New York Times reported that the president has told acting Defense Secretary Patric
‘Hope not,’ Trump says when asked if the United States will go to war with Iran Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: dan mangan
Keywords: news, cnbc, companies, told, situation, authorization, house, states, hope, pelosi, asked, president, middle, united, trump, war, iran


'Hope not,' Trump says when asked if the United States will go to war with Iran

US President Donald Trump (L) greets Switzerland’s President Ueli Maurer before a meeting at the White House on May 16, 2019, in Washington, DC.

Meanwhile, members of Congress blasted the Trump administration for leaving them in the dark about details of the situation with Iran — and House Speaker Nancy Pelosi said Trump lacks authority to declare war on Iran.

Within hours of Trump making that public comment, The New York Times reported that the president has told acting Defense Secretary Patrick Shanahan that he does not want to go to war with Iran.

That answer to a reporter’s question during a photo opportunity at the White House with Swiss President Ueli Maurer came amid growing concern about a conflict between the U.S. and Iran.

President Donald Trump said “hope not” when he was asked Thursday if the United States is going to war with Iran.

“The responsibility in the Congress is for Congress to declare war,” said Pelosi, D-Calif.

“So I hope the president’s advisors recognize that they have no authorization to go forward in any way. They cannot call the authorization, AUMF, the authorization for the use of military force, that was passed in 2001, as any authorization to go forward in the Middle East now,” she said.

“I like what I hear from the president that he has no appetite for this,” Pelosi added added. “One of the places that I agree with the president is that both of us in our opposition to the war in Iraq and I hope the same attitude will prevail with the president of the United States even though some of his supporters are rattling sabers.”

The Trump administration has sent an aircraft carrier strike group and bombers to the Middle East in response to what it has characterized as “troubling and escalatory indications and warnings” from Iran.

Those indications include a purported threat from Iran against U.S. diplomatic posts in Iraq, as well as worry that Iran is setting the stage to place rocket launchers on ships in the Persian Gulf.

On Wednesday, the U.S. State Department ordered nonemergency government employees to leave the American embassy in Baghdad and the consulate in Erbil.

Sen. Richard Blumenthal, D-Conn., a member of the Armed Services Committee, told reporters Thursday: “The American people have been kept in the dark. It is disgraceful and despicable that we’re on the verge of war, and the American people are given this kind of confused and chaotic picture of what the situation is on the ground.”

Blumenthal said that he and other senators have heard that “we are supposedly going to have a briefing on Tuesday” from the Trump administration about the Iran situation.

But, Blumenthal added, “we’re hearing it may be too late because hostilities may have begun or there may be an escalation on the military situation.”

That would be “petrifying,” he said.

Later Thursday, three sources told NBC News that all senators will be receiving a classified briefing next Tuesday to update them on the situation involving Iran and the Middle East.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: dan mangan
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We asked the Democrats running for president how they would negotiate with China on trade. Here’s what they said

China has not been forthright in even admitting that intellectual property theft and technology transfer occurs. On the intellectual property theft, we know that much of the IP theft is state-backed. We should address cybersecurity and intellectual property theft issues directly with China and use the WTO to negotiate trade disputes and establish clear enforcement mechanisms. As we press China on trade and intellectual property theft, we need to demonstrate our resolve in ways that actually help


China has not been forthright in even admitting that intellectual property theft and technology transfer occurs. On the intellectual property theft, we know that much of the IP theft is state-backed. We should address cybersecurity and intellectual property theft issues directly with China and use the WTO to negotiate trade disputes and establish clear enforcement mechanisms. As we press China on trade and intellectual property theft, we need to demonstrate our resolve in ways that actually help
We asked the Democrats running for president how they would negotiate with China on trade. Here’s what they said Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: tucker higgins
Keywords: news, cnbc, companies, practices, property, running, negotiate, democrats, wto, trade, american, president, asked, theft, rights, heres, intellectual, china, chinas


We asked the Democrats running for president how they would negotiate with China on trade. Here's what they said

China’s President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017. Nicolas Asfouri | AFP | Getty Images

With trade negotiations between the U.S. and China stalled and an escalating trade war threatening global markets, President Donald Trump has said that the Chinese are “DREAMING” that he will be defeated by a Democrat in 2020. But Democrats have not said much about their own plans for negotiating with the Chinese. To learn more, CNBC asked the 21 top Democrats running for president about their views. We asked them what they believe is working under Trump — and what they would change. We also asked whether human rights issues in China, where the U.S. has said more than a million Muslims are held in concentration camps, should be part of any trade deal. Lastly, we asked about what they would do about China’s efforts to tighten its military grip on the South China Sea, where more than $3 trillion of trade passes annually. Below, unedited, are our questions and the answers we received from the seven Democrats who responded. Those Democrats are Sen. Bernie Sanders, I-Vt., Rep. Eric Swalwell, D-Calif., Rep. Tim Ryan, D-Ohio, former Maryland Rep. John Delaney, Rep. Seth Moulton, D-Mass., Miramar, Florida, Mayor Wayne Messam and spiritual coach Marianne Williamson. Two other Democrats provided partial responses. A spokesperson for Sen. Michael Bennet, D-Colo., provided an excerpt from the senator’s platform that is included as a response to the first question. An aide to Texas Rep. Beto O’Rourke wrote in a statement: “Holding China accountable should not come at the expense of American workers. That is why we must not settle for any deal that does not respect intellectual property, level the playing field in the Chinese market, nor end unfair trade practices. We must advance progress based on shared interests and core democratic values.” Joe Biden, the Democratic front runner, did not respond to CNBC’s survey as of publication time but has dismissed China’s economic competitiveness while on the campaign trail, earning some criticism from his fellow contenders. “China is going to eat our lunch? Come on, man,” Biden told a crowd in Iowa earlier this month. He described himself as a “fair trader” and said he has been “arguing for a long time that we should treat other countries the way in which they treat us, which is, particularly as it relates to China: If they want to trade here, they’re going to be under the same rules.” CNBC provided the questions to each campaign on May 6. What do you think is the best approach to addressing China’s practices with regard to intellectual property theft, technology transfer, industrial subsidies and other matters in which the two countries are at odds. Is it through multinational organizations like the World Trade Organization and the United Nations? Will you take any action unilaterally? If so, what action? Sanders: It is in the interests of the United States to work to strengthen institutions like the WTO and the UN rather than trying to go it alone. American concerns about China’s technology practices are shared in Europe and across the Asia-Pacific. We can place far more pressure on China to change its policies if we work together with the broader international community and the other developed economies. International institutions also offer China a template for reforming its own internal intellectual property and industrial practices. Swalwell: I’m a member of the House Permanent Select Committee on Intelligence, as well as of the Judiciary Subcommittee on Courts, Intellectual Property, and the Internet, so I’ve seen first-hand the economic espionage that China commits and the adverse impact it has on American businesses. China has not been forthright in even admitting that intellectual property theft and technology transfer occurs. Nor is China transparent on its industrial subsidies. Curbing China’s dishonest practices must be a part of any negotiation; as president, I would hold China accountable. On the intellectual property theft, we know that much of the IP theft is state-backed. In order to combat this we must take a multi-pronged approach — both defensive and offensive. We must have a strong enforcement mechanism with which to hold China accountable for their actions and continue to impose penalties when theft occurs. China has made promises to institute reforms of their policies governing IP rights, technology transfers and cyber-theft of trade secrets in the past but we know these are not being imposed. Read more: Eric Swalwell of California joins 2020 presidential race The legal and diplomatic approaches have not been completely effective, it is critical that we implement other actions such as developing early warning systems, particularly when it comes to the stealing of defense technology. This can be done through private-public partnerships. We must also be ready to take counter action when a theft is detected. It is vital that we continue to have a multinational approach to addressing these issues. We can’t go it alone; we must involve allies — and other victims of China’s practices — such as Japan, South Korea, Australia and New Zealand.

While the U.S. does not have to go through the World Trade Organization and can invoke Section 301 if they are to impose tariffs against China (even though it still has to file a simultaneous complaint with the WTO), the WTO can still be a useful partner. In fact, the WTO has an obligation to enforce the rules they have set up, otherwise it is left to the United States to impose punishment. We should hold the WTO to its obligation. It is also important that U.S. companies acknowledge when theft is occurring by China. In the past, companies have not wanted to impinge on their business with China so they’ve turned a blind eye. I would ensure that reporting this theft it is a win-win for American companies through fair trade practices. Lastly, government departments must coordinate with each other and with U.S. companies. The departments of Commerce and the Treasury, the U.S. Trade Representative and the U.S. State Department must all be aligned to tackle the problem of IP property theft in coordination with the private sector. I would continue to make sure the Justice Department brings criminal cases against the companies that violate trade agreements and steal our trade secrets and intellectual property. I would boost our Trade Representative’s investigation of China’s activities by adding more staff and funding. Ryan: When it comes to China stealing intellectual property from the United States, there is no doubt that multinational organizations need to play a part in holding them accountable. These actions are a serious national security and economic risk for the United States. At the same time, I think our government must take further action when it comes to creating safeguards against China’s actions. That is why I have cosponsored legislation the Fair Trade with China Enforcement Act, which would hold China accountable and create necessary regulations when it comes to trade with China, including prohibiting the sale of national security sensitive technology and intellectual property to China. Read more: Ohio Rep. Tim Ryan — who once tried to take down Nancy Pelosi — is running for president Delaney: China has acted like pirates, stealing intellectual property, building illegal islands, and not playing by the rules. I will build a broad coalition of U.S. allies and have a unified front against China (this will involve working with multinational organizations but also doing a lot more), I will unify our business community against these practices by preventing them from depositing intellectual property funded by taxpayers into joint ventures with China, and I will re-enter the TPP to compete with China. We can hold China accountable and have a productive relationship with them. Read more: What being a successful businessman taught Rep. John Delaney about politics Moulton: These options aren’t mutually exclusive. We should address cybersecurity and intellectual property theft issues directly with China and use the WTO to negotiate trade disputes and establish clear enforcement mechanisms. Protecting our international property is a national security issue, and we need to build a cyberwall to protect against Chinese and Russian attacks. We should start by strengthening the Cyber Threat Intelligence Integration Center created under President Obama and improve the information-sharing between the private sector and government on cyber threats. As we press China on trade and intellectual property theft, we need to demonstrate our resolve in ways that actually help American workers. Donald Trump has shown he knows nothing about trade. An initial analysis of the net effect of the tariffs is that they are costing the United States economy $1.4 billion a month, and the cost of the tariffs is being passed on to U.S. farmers, companies, and consumers. Read more: Seth Moulton is the latest Democrat running for president. Here are his biggest policy priorities, from green jobs to a public option The United States led the 15 years of negotiations that enabled China to join the WTO and we should reap the benefits of that successful diplomatic effort. Our negotiators secured unprecedented changes to China’s economic and trade policies as conditions for membership, including requiring a dramatic opening of China’s telecom, banking, and insurance sectors, along with the lowering of tariffs on key agricultural products to almost zero. The point is: WTO leverage works. China’s membership in the WTO has been a huge boon to the United States, with U.S. exports to China increasing by 500 percent and agricultural exports increasing by 1000 percent since China joined the organization. Going forward, the WTO should absolutely be involved in establishing trust in trade negotiations and in providing the mechanisms for the enforcement of trade agreements. Bennet: Instead of slapping tariffs on our allies and perpetrating a trade war, Michael believes we need to do the hard work of building coalitions to counter Chinese predatory economic practices, like intellectual property theft and economic espionage, that harm American workers, businesses, farmers, and ranchers. In order to compete with and counter an increasingly authoritarian China, Michael believes we must reinvest in our alliances, champion democratic values like the rule of law and human rights, and sharpen our efforts to combat technology threats that undermine U.S. economic and national security.

Messam: The strained trade relations between the U.S. and China is a complex issue that should be confronted with a measured and sober disposition. The combined approach of multinational organizations and unilateral action should be leveraged to protect intellectual property, technology assets, and trade secrets. Before engaging trade wars that could have detrimental impacts to American businesses and our economy, we must seek to solve our trade differences diplomatically. Where multinational organization negotiations don’t work, I would seek specific and direct trade remedies not limited to: • tariffs • blockade on imports of stolen intellectual property Read more: Little-known Florida mayor becomes the latest Democrat vying to take on Trump in 2020 Williamson: The United States Intellectual Property is some of the most valued in the world. According to the USTR, by stealing our intellectual property, China costs American businesses between $225 billion and $600 billion annually. We must use all tools at our disposal to ensure China respects intellectual property law. This will include working with and leveraging the power of the international community to make certain that China engages in fair trade. The U.S. government must also enlist the help and cooperation from American businesses to help solve this problem. Increased internal controls, more robust screening and standardized best practices will make it more difficult for Chinese agents to operate. Many opportunities are a matter of simple theft. More diligence will help curb crimes of opportunity. Lastly, a firm no nonsense stance against China on every front will be necessary to send a clear message that these practices won’t be tolerated. Should a trade deal with China address human rights issues? If not, will your administration address human rights in China and, if so, how? Sanders: Yes. Labor protections are very weak in China, and the rights of workers are an essential component of human rights. The Trump administration has proven itself indifferent to labor rights, and apparently would prefer that American workers are reduced to the position of Chinese workers, rather than that labor everywhere enjoy basic protections and strong standard of living. The Trump administration has also done nothing to pressure China over its abhorrent treatment of the Uighur and Tibetan peoples. Future trade negotiations should, for example, target American corporations that contribute surveillance technologies that enable China’s authoritarian practices. Swalwell: Yes, a trade deal must have a component to address human rights activity. We must be a model for the world and call out countries such as China that violate human rights. Ryan: Yes. As the United States negotiates any future trade deal with China, we must address the human rights violations. The actions we have seen from the Chinese government when it comes to the inhumane treatment of the ethnic minorities is inexcusable. And no future trade agreement can ignore these violations. Delaney: Human rights are a priority to the Delaney Administration.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: tucker higgins
Keywords: news, cnbc, companies, practices, property, running, negotiate, democrats, wto, trade, american, president, asked, theft, rights, heres, intellectual, china, chinas


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White House’s Mulvaney says China trade talks will be resolved ‘one way or the other’ within two weeks

The Trump administration should know more about whether it will sign a key trade deal with China within two weeks, White House chief of staff Mick Mulvaney said Tuesday. When asked about Treasury Secretary Steven Mnuchin’s suggestion that the White House could announce an agreement with Beijing in the next two weeks, the top Trump advisor said, “I think that’s fair.” “Someone asked me how long is the negotiation going to go on and I don’t have a specific answer to that,” he said at the Milken In


The Trump administration should know more about whether it will sign a key trade deal with China within two weeks, White House chief of staff Mick Mulvaney said Tuesday. When asked about Treasury Secretary Steven Mnuchin’s suggestion that the White House could announce an agreement with Beijing in the next two weeks, the top Trump advisor said, “I think that’s fair.” “Someone asked me how long is the negotiation going to go on and I don’t have a specific answer to that,” he said at the Milken In
White House’s Mulvaney says China trade talks will be resolved ‘one way or the other’ within two weeks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: jacob pramuk thomas franck, jacob pramuk, thomas franck
Keywords: news, cnbc, companies, resolved, asked, know, talks, going, mulvaney, point, negotiation, trade, weeks, white, think, china, trump, way, house, houses


White House's Mulvaney says China trade talks will be resolved 'one way or the other' within two weeks

The Trump administration should know more about whether it will sign a key trade deal with China within two weeks, White House chief of staff Mick Mulvaney said Tuesday.

When asked about Treasury Secretary Steven Mnuchin’s suggestion that the White House could announce an agreement with Beijing in the next two weeks, the top Trump advisor said, “I think that’s fair.”

“Someone asked me how long is the negotiation going to go on and I don’t have a specific answer to that,” he said at the Milken Institute Global Conference. “It won’t go on forever. I think at some point in any negotiation you realize: ‘OK: we’re close to getting something done so we’re going to keep going.’ On the other hand, at some point you just throw your hands up and say ‘you know this is never going to get anywhere.'”


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: jacob pramuk thomas franck, jacob pramuk, thomas franck
Keywords: news, cnbc, companies, resolved, asked, know, talks, going, mulvaney, point, negotiation, trade, weeks, white, think, china, trump, way, house, houses


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After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous

Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored. Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!” When asked about the tweet, a GCHQ spok


Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored. Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!” When asked about the tweet, a GCHQ spok
After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: alex wong, getty images
Keywords: news, cnbc, companies, trump, ridiculous, truth, tweeted, spy, utterly, spied, allegations, wire, tapping, agency, claim, asked, uk, gchq


After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous

Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored.

Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!”

When asked about the tweet, a GCHQ spokesman said: “The allegations that GCHQ was asked to conduct ‘wire tapping’ against the then President Elect are nonsense. They are utterly ridiculous and should be ignored.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: alex wong, getty images
Keywords: news, cnbc, companies, trump, ridiculous, truth, tweeted, spy, utterly, spied, allegations, wire, tapping, agency, claim, asked, uk, gchq


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After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous

Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored. Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!” When asked about the tweet, a GCHQ spok


Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored. Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!” When asked about the tweet, a GCHQ spok
After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: alex wong, getty images
Keywords: news, cnbc, companies, trump, ridiculous, truth, tweeted, spy, utterly, spied, allegations, wire, tapping, agency, claim, asked, uk, gchq


After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous

Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored.

Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!”

When asked about the tweet, a GCHQ spokesman said: “The allegations that GCHQ was asked to conduct ‘wire tapping’ against the then President Elect are nonsense. They are utterly ridiculous and should be ignored.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: alex wong, getty images
Keywords: news, cnbc, companies, trump, ridiculous, truth, tweeted, spy, utterly, spied, allegations, wire, tapping, agency, claim, asked, uk, gchq


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Lyft threatens litigation against Morgan Stanley over short-selling

Lyft has threatened litigation against Morgan Stanley, accusing the firm of supporting short-selling for investors who are subject to lock-up agreements. Lyft asked Morgan Stanley to go on record saying that they did not create such a product, and that they had engaged in the proper due diligence in marketing such a product. In the letter, Lyft said that it has the ability to take legal action against Morgan Stanley and asked that the firm turn over relevant documents in advance of potential lit


Lyft has threatened litigation against Morgan Stanley, accusing the firm of supporting short-selling for investors who are subject to lock-up agreements. Lyft asked Morgan Stanley to go on record saying that they did not create such a product, and that they had engaged in the proper due diligence in marketing such a product. In the letter, Lyft said that it has the ability to take legal action against Morgan Stanley and asked that the firm turn over relevant documents in advance of potential lit
Lyft threatens litigation against Morgan Stanley over short-selling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-06  Authors: deirdre bosa, leslie picker, mike blake
Keywords: news, cnbc, companies, short, morgan, threatens, shortselling, lyft, engaged, litigation, investors, shares, firm, letter, asked, stanley


Lyft threatens litigation against Morgan Stanley over short-selling

Lyft has threatened litigation against Morgan Stanley, accusing the firm of supporting short-selling for investors who are subject to lock-up agreements.

In a letter sent to Morgan Stanley on April 2, Lyft questioned the firm about its alleged role in helping market certain products that would help pre-IPO investors bet against the stock.

CNBC reviewed a copy of this letter, which was signed by Lyft’s counsel Peter Stris of the law firm Stris & Maher. Lyft declined to comment.

The letter was prompted by reporting in the New York Post, which said Morgan Stanley had been selling a short product to pre-IPO investors and cited three sources close to the situation.

Lyft asked Morgan Stanley to go on record saying that they did not create such a product, and that they had engaged in the proper due diligence in marketing such a product.

The letter, which copied Lyft’s lead underwriters JP Morgan and Credit Suisse, also asks that if Morgan Stanley did engage in such activity that they stop immediately and turn over a list of shareholders who participated.

While the letter requested that Morgan Stanley respond by the end of the day on April 2, two source close to the matter said that as of late Friday, the firm had yet to do so formally. Both people asked for anonymity discussing private details involving the dispute.

However, a Morgan Stanley spokesperson provided a statement to CNBC, saying that the firm “did not market or execute, directly or indirectly, a sale, short sale, hedge, swap or transfer of risk or value associated with Lyft stock for any Lyft shareholder identified by the company or otherwise known to us to be the subject of a Lyft lock-up agreement.”

The Information first reported that Lyft and its IPO syndicate had sent a letter to Morgan Stanley over its purported role in creating special instruments for pre-IPO investors to short.

In the letter, Lyft said that it has the ability to take legal action against Morgan Stanley and asked that the firm turn over relevant documents in advance of potential litigation.

Lyft’s counsel believes that Morgan Stanley could be found to have engaged in tortious interference with the lock-up agreements if it were true that the firm actively sought to circumvent them.

Lyft’s shares plummeted as much as 12% on their second day of trading, following their IPO debut on March 29. Some traders in the market speculated that the drop was partly due to early demand for short selling the shares. The stock rebounded over the course of the week.

“Our firm’s activity has been in the normal course of market-making, and any suggestion that Morgan Stanley has engaged in an effort to apply ‘short pressure’ to Lyft is false,” the spokesperson for Morgan Stanley said.

Morgan Stanley’s short sales were less than 1.3% of the total volume of Lyft, according to a person familiar with Morgan Stanley’s operations.

The single largest short-trade executed on behalf of a client was 425,000 shares, said the person, who asked not to be named discussing private details about the firm’s trading activity.

The Financial Industry Regulatory Authority, which is the self-regulatory organization that patrols the banking industry, has already gotten engaged on the matter, one person with knowledge of the matter said.

This may also fall under the domain of the Securities and Exchange Commission, although CNBC was unable to learn whether the SEC has started any discussions at this time.

The Information reported earlier that Finra has gotten involved in the matter.

The dispute also comes as a long pipeline of tech companies are waiting to make their own debuts this year. Lyft’s rival Uber is set to go public in the coming months.

Morgan Stanley had won the coveted role of underwriting Uber’s IPO. The bankers who are managing that deal were also copied in on the letter, which is notable because the creation of financial products for short selling would be typically done in another division at the firm — not within investment banking.


Company: cnbc, Activity: cnbc, Date: 2019-04-06  Authors: deirdre bosa, leslie picker, mike blake
Keywords: news, cnbc, companies, short, morgan, threatens, shortselling, lyft, engaged, litigation, investors, shares, firm, letter, asked, stanley


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Lyft threatens litigation against Morgan Stanley over short-selling

Lyft has threatened litigation against Morgan Stanley, accusing the firm of supporting short-selling for investors who are subject to lock-up agreements. Lyft asked Morgan Stanley to go on record saying that they did not create such a product, and that they had engaged in the proper due diligence in marketing such a product. In the letter, Lyft said that it has the ability to take legal action against Morgan Stanley and asked that the firm turn over relevant documents in advance of potential lit


Lyft has threatened litigation against Morgan Stanley, accusing the firm of supporting short-selling for investors who are subject to lock-up agreements. Lyft asked Morgan Stanley to go on record saying that they did not create such a product, and that they had engaged in the proper due diligence in marketing such a product. In the letter, Lyft said that it has the ability to take legal action against Morgan Stanley and asked that the firm turn over relevant documents in advance of potential lit
Lyft threatens litigation against Morgan Stanley over short-selling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-06  Authors: deirdre bosa, leslie picker, mike blake
Keywords: news, cnbc, companies, short, morgan, threatens, shortselling, lyft, engaged, litigation, investors, shares, firm, letter, asked, stanley


Lyft threatens litigation against Morgan Stanley over short-selling

Lyft has threatened litigation against Morgan Stanley, accusing the firm of supporting short-selling for investors who are subject to lock-up agreements.

In a letter sent to Morgan Stanley on April 2, Lyft questioned the firm about its alleged role in helping market certain products that would help pre-IPO investors bet against the stock.

CNBC reviewed a copy of this letter, which was signed by Lyft’s counsel Peter Stris of the law firm Stris & Maher. Lyft declined to comment.

The letter was prompted by reporting in the New York Post, which said Morgan Stanley had been selling a short product to pre-IPO investors and cited three sources close to the situation.

Lyft asked Morgan Stanley to go on record saying that they did not create such a product, and that they had engaged in the proper due diligence in marketing such a product.

The letter, which copied Lyft’s lead underwriters JP Morgan and Credit Suisse, also asks that if Morgan Stanley did engage in such activity that they stop immediately and turn over a list of shareholders who participated.

While the letter requested that Morgan Stanley respond by the end of the day on April 2, two source close to the matter said that as of late Friday, the firm had yet to do so formally. Both people asked for anonymity discussing private details involving the dispute.

However, a Morgan Stanley spokesperson provided a statement to CNBC, saying that the firm “did not market or execute, directly or indirectly, a sale, short sale, hedge, swap or transfer of risk or value associated with Lyft stock for any Lyft shareholder identified by the company or otherwise known to us to be the subject of a Lyft lock-up agreement.”

The Information first reported that Lyft and its IPO syndicate had sent a letter to Morgan Stanley over its purported role in creating special instruments for pre-IPO investors to short.

In the letter, Lyft said that it has the ability to take legal action against Morgan Stanley and asked that the firm turn over relevant documents in advance of potential litigation.

Lyft’s counsel believes that Morgan Stanley could be found to have engaged in tortious interference with the lock-up agreements if it were true that the firm actively sought to circumvent them.

Lyft’s shares plummeted as much as 12% on their second day of trading, following their IPO debut on March 29. Some traders in the market speculated that the drop was partly due to early demand for short selling the shares. The stock rebounded over the course of the week.

“Our firm’s activity has been in the normal course of market-making, and any suggestion that Morgan Stanley has engaged in an effort to apply ‘short pressure’ to Lyft is false,” the spokesperson for Morgan Stanley said.

Morgan Stanley’s short sales were less than 1.3% of the total volume of Lyft, according to a person familiar with Morgan Stanley’s operations.

The single largest short-trade executed on behalf of a client was 425,000 shares, said the person, who asked not to be named discussing private details about the firm’s trading activity.

The Financial Industry Regulatory Authority, which is the self-regulatory organization that patrols the banking industry, has already gotten engaged on the matter, one person with knowledge of the matter said.

This may also fall under the domain of the Securities and Exchange Commission, although CNBC was unable to learn whether the SEC has started any discussions at this time.

The Information reported earlier that Finra has gotten involved in the matter.

The dispute also comes as a long pipeline of tech companies are waiting to make their own debuts this year. Lyft’s rival Uber is set to go public in the coming months.

Morgan Stanley had won the coveted role of underwriting Uber’s IPO. The bankers who are managing that deal were also copied in on the letter, which is notable because the creation of financial products for short selling would be typically done in another division at the firm — not within investment banking.


Company: cnbc, Activity: cnbc, Date: 2019-04-06  Authors: deirdre bosa, leslie picker, mike blake
Keywords: news, cnbc, companies, short, morgan, threatens, shortselling, lyft, engaged, litigation, investors, shares, firm, letter, asked, stanley


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Britain must resolve Brexit but changing PM May wouldn’t help, Hammond says

Britain must find a way to leave the European Union in an orderly fashion rather than trying to oust Prime Minister Theresa May, finance minister Philip Hammond said on Sunday. When asked by Sky about newspaper reports of a plot to oust May by senior ministers and whether she had run out of road, Hammond said: “No. “Changing prime minister wouldn’t help us,” he said. When asked if he was trying to get May’s de-facto deputy, David Lidington, to take over as interim prime minister, Hammond said: “


Britain must find a way to leave the European Union in an orderly fashion rather than trying to oust Prime Minister Theresa May, finance minister Philip Hammond said on Sunday. When asked by Sky about newspaper reports of a plot to oust May by senior ministers and whether she had run out of road, Hammond said: “No. “Changing prime minister wouldn’t help us,” he said. When asked if he was trying to get May’s de-facto deputy, David Lidington, to take over as interim prime minister, Hammond said: “
Britain must resolve Brexit but changing PM May wouldn’t help, Hammond says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-24  Authors: photographer, collection, getty images
Keywords: news, cnbc, companies, deal, brexit, changing, prime, parliament, majority, wouldnt, oust, resolve, britain, asked, hammond, minister, trying, ministers, help


Britain must resolve Brexit but changing PM May wouldn't help, Hammond says

Britain must find a way to leave the European Union in an orderly fashion rather than trying to oust Prime Minister Theresa May, finance minister Philip Hammond said on Sunday.

When asked by Sky about newspaper reports of a plot to oust May by senior ministers and whether she had run out of road, Hammond said: “No. I don’t think that is the case at all.”

“Changing prime minister wouldn’t help us,” he said. “To be talking about changing the players on the board, frankly, is self-indulgent at this time.”

When asked if he was trying to get May’s de-facto deputy, David Lidington, to take over as interim prime minister, Hammond said: “That’s not the case.”

“I’m realistic that we may not be able to get a majority for the prime minister’s (Brexit) deal and if that is the case then parliament will have to decide not just what it’s against but what it is for,” he said.

When asked about possible options for Brexit, Hammond said he was not sure there was a majority in parliament for a second referendum but that it was a coherent proposition.

“It’s clear there is going to be an opportunity over the next few days for the House of Commons, if it doesn’t approve the prime minister’s deal, to try to find a majority behind another proposition that it can take forward,” Hammond said.


Company: cnbc, Activity: cnbc, Date: 2019-03-24  Authors: photographer, collection, getty images
Keywords: news, cnbc, companies, deal, brexit, changing, prime, parliament, majority, wouldnt, oust, resolve, britain, asked, hammond, minister, trying, ministers, help


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This dad got pitched by college admissions fraudster Rick Singer — but said no to the scam

“He was pitched to me as a guy who packaged your kids” to apply to college, the man said. Singer asked questions about his son’s academics and whether he had written a college application essay, the man said. But then Singer asked a question that seemed “weird,” the man said. Singer told the man “there’s a sense of urgency here” because at the time they were talking it was the season for college placement. After Singer detailed the proposed scam, the man told Singer, “I’ll get back to you.”


“He was pitched to me as a guy who packaged your kids” to apply to college, the man said. Singer asked questions about his son’s academics and whether he had written a college application essay, the man said. But then Singer asked a question that seemed “weird,” the man said. Singer told the man “there’s a sense of urgency here” because at the time they were talking it was the season for college placement. After Singer detailed the proposed scam, the man told Singer, “I’ll get back to you.”
This dad got pitched by college admissions fraudster Rick Singer — but said no to the scam Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: dan mangan, bryan snyder
Keywords: news, cnbc, companies, dad, admissions, scam, college, told, fraudster, team, ceo, spoke, son, asked, water, singer, rick, man, pitched


This dad got pitched by college admissions fraudster Rick Singer — but said no to the scam

The man noted that before their call, Singer did not know who he was.

Singer, 59, pleaded guilty Tuesday to federal criminal charges connected to his alleged widespread, $25 million scheme to help wealthy parents bribe, cheat and otherwise fraudulently game the college admissions system to gain entry for their children to highly ranked universities.

Prosecutors have charged TV actresses Felicity Huffman and Lori Loughlin in the scheme, along with Loughlin’s husband, fashion designer Mossimo Giannulli. Other parents charged include PIMCO CEO Douglas Hodge, now-former Hercules Capital CEO Manuel Henriquez, top lawyer Gordon Caplan and investment fund CEO Bill McGlashan.

Also facing charges are college athletic coaches who were allegedly paid to falsely claim certain students would play sports that they actually never ended up participating in.

One of the California universities allegedly victimized in the scam was the school that Singer and the man who spoke with CNBC talked about getting the man’s son into in March 2011.

The man who spoke with CNBC said that Singer, founder and CEO of the Edge College & Career Network, was referred to him by a friend whom he had talked to about his son’s college admission efforts.

“He said, ‘You should be in touch with this guy,'” the man recounted.

“He was pitched to me as a guy who packaged your kids” to apply to college, the man said.

The man said that when he spoke with Singer on the phone, the first minute or so of the conversation seemed appropriate. Singer asked questions about his son’s academics and whether he had written a college application essay, the man said.

“You say, ‘This is a college placement kind of guy,'” the man recalled.

But then Singer asked a question that seemed “weird,” the man said.

“He asked me how tall my son was,” the man said. “And then he asked me how much he weighed.”

“Then it shifted … he said, ‘I can actually slot your kid into the water polo team,'” the man recalled. “I said, ‘He never played.’ He said, ‘That’s OK.'”

Singer told the man that as part of his $100,000 fee, a “contribution” would be made to the water polo team at the university the son wanted to attend. After his son gained admittance to the school, Singer told him, his son would either quit the water polo team or be cut from it, without ever participating in any team activity.

“The scheme was, ‘Get him in, and then get him out,'” the man recalled.

Singer told the man “there’s a sense of urgency here” because at the time they were talking it was the season for college placement.

After Singer detailed the proposed scam, the man told Singer, “I’ll get back to you.”

The man said he never called Singer back and they never spoke again.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: dan mangan, bryan snyder
Keywords: news, cnbc, companies, dad, admissions, scam, college, told, fraudster, team, ceo, spoke, son, asked, water, singer, rick, man, pitched


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