New Virgin Galactic Chairman Chamath Palihapitiya says tourism spaceflights to begin within a year

Richard Branson, founder of Virgin Group, and venture capitalist Chamath Palihapitiya told CNBC’s “Squawk Box” on Tuesday that Virgin Galactic is projected to become profitable on an annual basis by August 2021. The pair of billionaires, who are taking the company public following a merger deal, also said Virgin Galactic is on track to fly its first customers within a year. Sending the company’s first tourists to space would come as Virgin Galactic gets ready to go public following a merger with


Richard Branson, founder of Virgin Group, and venture capitalist Chamath Palihapitiya told CNBC’s “Squawk Box” on Tuesday that Virgin Galactic is projected to become profitable on an annual basis by August 2021. The pair of billionaires, who are taking the company public following a merger deal, also said Virgin Galactic is on track to fly its first customers within a year. Sending the company’s first tourists to space would come as Virgin Galactic gets ready to go public following a merger with
New Virgin Galactic Chairman Chamath Palihapitiya says tourism spaceflights to begin within a year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: michael sheetz, jessica bursztynsky
Keywords: news, cnbc, companies, palihapitiya, space, company, chairman, taking, tourists, virgin, public, galactic, sch, told, spaceflights, tourism, chamath, begin


New Virgin Galactic Chairman Chamath Palihapitiya says tourism spaceflights to begin within a year

Virgin Galactic expects to be profitable two years after it begins publicly-trading, with the company aiming to fly tourists to the edge of space for the first time within a year.

Richard Branson, founder of Virgin Group, and venture capitalist Chamath Palihapitiya told CNBC’s “Squawk Box” on Tuesday that Virgin Galactic is projected to become profitable on an annual basis by August 2021. The pair of billionaires, who are taking the company public following a merger deal, also said Virgin Galactic is on track to fly its first customers within a year.

“Since we put two spaceships into space earlier this year, and made five new astronauts – the first astronauts to have been made on American soil since 2009 – we’ve had 2,500 people ask to sign up,” Branson told CNBC. “The market is enormous.”

Sending the company’s first tourists to space would come as Virgin Galactic gets ready to go public following a merger with Social Capital Hedosophia (SCH), a special-purpose acquisition company that Palihapitiya created. He will become the chairman o the new Virgin Galactic, while the existing management team, including CEO George Whitesides, will remain in place. The combined firm will have a valuation of $1.5 billion, with SCH taking a 49% stake. LionTree Advisors is serving as Virgin Galactic’s financial adviser as it seeks capital.

“We have a customer backlog of more than 600 people, more than $80 million in collected deposits already,” Palihapitiya said.

Tickets for a spaceflight are priced at about $250,000 a piece. Virgin Galactic’s spacecraft Unity holds up to six passengers along with the two pilots. The spaceship is dropped from a jet-powered aircraft at about 40,000 feet before firing its rocket motor, reaching over three times of the speed of sound as it climbs toward space.


Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: michael sheetz, jessica bursztynsky
Keywords: news, cnbc, companies, palihapitiya, space, company, chairman, taking, tourists, virgin, public, galactic, sch, told, spaceflights, tourism, chamath, begin


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Deutsche Bank employees begin leaving London office amid global job cull

A man carries a box as he leaves a London office of Deutsche Bank which has confirmed plans to cut 18,000 positions across its global business, causing thousands of workers in the City of London to fear for their jobs. Deutsche Bank employees were seen leaving its London offices on Monday after the German lender announced its intent to cut 18,000 jobs by 2022 in a sweeping overhaul of its global business. A number of visibly disgruntled employees were seen leaving, some with A4 envelopes, while


A man carries a box as he leaves a London office of Deutsche Bank which has confirmed plans to cut 18,000 positions across its global business, causing thousands of workers in the City of London to fear for their jobs. Deutsche Bank employees were seen leaving its London offices on Monday after the German lender announced its intent to cut 18,000 jobs by 2022 in a sweeping overhaul of its global business. A number of visibly disgruntled employees were seen leaving, some with A4 envelopes, while
Deutsche Bank employees begin leaving London office amid global job cull Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: elliot smith
Keywords: news, cnbc, companies, deutsche, leaving, cull, cut, global, bank, london, seen, cuts, trading, office, employees, begin, job


Deutsche Bank employees begin leaving London office amid global job cull

A man carries a box as he leaves a London office of Deutsche Bank which has confirmed plans to cut 18,000 positions across its global business, causing thousands of workers in the City of London to fear for their jobs.

Deutsche Bank employees were seen leaving its London offices on Monday after the German lender announced its intent to cut 18,000 jobs by 2022 in a sweeping overhaul of its global business.

A number of visibly disgruntled employees were seen leaving, some with A4 envelopes, while a source with knowledge of the matter confirmed to CNBC that people were being asked on Monday morning to gather their belongings and leave the premises.

The cuts are focused in the closure of the bank’s global equities sales and trading business in a bid to improve profitability, and are part of an effort to reduce global headcount to around 74,000 and cut adjusted costs by a quarter to 17 billion euros ($19.08 billion). Deutsche Bank employs around 7,000 people in London out of the 7,990 across the U.K., having first opened in the capital in 1873.

The bank has not disclosed a regional breakdown of the job cuts, but both London and New York are hubs for its investment bank’s trading operations and may therefore bear the brunt.


Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: elliot smith
Keywords: news, cnbc, companies, deutsche, leaving, cull, cut, global, bank, london, seen, cuts, trading, office, employees, begin, job


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Apple and Qualcomm are about to begin their massive, multi-billion dollar patent trial

Apple and its allies on Monday will kick off a jury trial against chip supplier Qualcomm in San Diego, alleging that Qualcomm engaged in illegal patent licensing practices and seeking up to $27 billion in damages. Qualcomm, for its part, alleges that Apple forced its longtime business partners to quit paying some royalties and is seeking up to $15 billion. Qualcomm has spent the past two years mounting a pressure campaign of smaller legal skirmishes against Apple, seeking – and in some cases obt


Apple and its allies on Monday will kick off a jury trial against chip supplier Qualcomm in San Diego, alleging that Qualcomm engaged in illegal patent licensing practices and seeking up to $27 billion in damages. Qualcomm, for its part, alleges that Apple forced its longtime business partners to quit paying some royalties and is seeking up to $15 billion. Qualcomm has spent the past two years mounting a pressure campaign of smaller legal skirmishes against Apple, seeking – and in some cases obt
Apple and Qualcomm are about to begin their massive, multi-billion dollar patent trial Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: sean gallup, getty images news, getty images
Keywords: news, cnbc, companies, massive, patent, seeking, chips, qualcomm, multibillion, licensing, begin, practices, business, chip, trial, apple, dollar, supplier


Apple and Qualcomm are about to begin their massive, multi-billion dollar patent trial

Apple and its allies on Monday will kick off a jury trial against chip supplier Qualcomm in San Diego, alleging that Qualcomm engaged in illegal patent licensing practices and seeking up to $27 billion in damages.

Qualcomm, for its part, alleges that Apple forced its longtime business partners to quit paying some royalties and is seeking up to $15 billion.

Filed by Apple in early 2017, the lawsuit in federal court revolves around the modem chips that connect devices like the iPhone or Apple Watch to wireless data networks. Qualcomm has spent the past two years mounting a pressure campaign of smaller legal skirmishes against Apple, seeking – and in some cases obtaining – iPhone sales bans for violating its patents.

The trial before Judge Gonzalo Curiel will play out on Qualcomm’s home turf of San Diego, where for decades the city’s National Football League team played in Qualcomm Stadium and nearly every business district hosts the mobile chip firm’s logo.

For Apple, the trial is about the freedom to determine its own technology path for blockbuster products by buying chips without having to pay what it calls a “tax” on its innovations in the form of patent licensing fees to Qualcomm that take a cut of the selling price of its devices.

For Qualcomm, the trial, along with similar allegations from U.S. regulators in a January court hearing, will determine the fate of its unique blend of selling chips and licensing more than 130,000 patents.

Licensing generates most of Qualcomm profits. The model propelled Qualcomm from a small contract research and development shop when founded in 1985 to a global chip powerhouse important enough to U.S. national security that President Donald Trump personally intervened to prevent a hostile takeover of the company last year.

“This is the day of reckoning that Qualcomm has been very fortunate to avoid for many years,” said Gaston Kroub, a patent attorney with Kroub, Silbersher & Kolmykov who is not involved in the case. “In Apple, they’ve finally come up against a potential licensee that has the resources and the will to put Qualcomm’s business model and licensing practices on trial.”

Qualcomm requires device makers to sign a license to its patents before it will supply chips, which it views as a commonsense measure to ensure it does not do business with companies violating its patents. But Apple and other device makers around the world have called the “no license, no chips” policy a form of “double dipping” – that is, charging for the same intellectual property once during licensing discussions, and then again in the price of the chips where the patents are embodied.

Apple and allies are asking for an end to that practice and a refund of about $9 billion – an amount that could be tripled if a jury finds in Apple’s favor for antitrust allegations – for contract factories such as Hon Hai Precision Industry Co Ltd’s Foxconn, who paid the royalties and were reimbursed by Apple. Apple alleges the practices kept rivals like Intel Corp out of the market for years.

“Even very big companies like Intel have felt at a disadvantage,” said Michael Salzman, an antitrust attorney with Hughes Hubbard & Reed not involved in the case.

Qualcomm will argue that it had been working successfully with contract factories for years before Apple introduced its iPhone. But Apple used its heft in the industry to get those factories to break their longstanding contracts with Qualcomm, depriving it of at least $7 billion in royalties it was due, the chip supplier alleges.

The chip supplier will also argue that its licensing practices have been consistent for decades and only came under fire when Apple, known in the electronics industry for pushing suppliers to contain costs, took issue with it. A victory would secure Qualcomm’s status as a major technology provider for 5G, the next generation of mobile data networks coming online this year.

“I don’t think (a Qualcomm victory) would be great for Apple, but if it’s about money, they’ve got plenty of money,” said Stacy Rasgon, an equity analyst for Bernstein who follows Qualcomm. “For Qualcomm, it’s an existential attack on the meat of their business model.”


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: sean gallup, getty images news, getty images
Keywords: news, cnbc, companies, massive, patent, seeking, chips, qualcomm, multibillion, licensing, begin, practices, business, chip, trial, apple, dollar, supplier


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Deutsche Bank, Commerzbank shares surge as merger talks begin

Shares of Deutsche Bank and Commerzbank surged on Monday after the German lenders confirmed they were in talks about a potential merger. Commerzbank rose to the top of the pan-European STOXX 600, with shares gaining almost 7 percent, while Deutsche Bank shares were up nearly 4 percent. Over a 12-month period, shares of both companies are down by around 40 percent. Talks are taking place following months of speculation, after Deutsche Bank CEO Christian Sewing reportedly withdrew his opposition t


Shares of Deutsche Bank and Commerzbank surged on Monday after the German lenders confirmed they were in talks about a potential merger. Commerzbank rose to the top of the pan-European STOXX 600, with shares gaining almost 7 percent, while Deutsche Bank shares were up nearly 4 percent. Over a 12-month period, shares of both companies are down by around 40 percent. Talks are taking place following months of speculation, after Deutsche Bank CEO Christian Sewing reportedly withdrew his opposition t
Deutsche Bank, Commerzbank shares surge as merger talks begin Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: chloe taylor, krisztian bocsi, bloomberg, getty images
Keywords: news, cnbc, companies, deutsche, bank, potential, deal, surge, commerzbank, merger, begin, workforce, talks, lenders, financial, shares, german


Deutsche Bank, Commerzbank shares surge as merger talks begin

Shares of Deutsche Bank and Commerzbank surged on Monday after the German lenders confirmed they were in talks about a potential merger.

Commerzbank rose to the top of the pan-European STOXX 600, with shares gaining almost 7 percent, while Deutsche Bank shares were up nearly 4 percent. Over a 12-month period, shares of both companies are down by around 40 percent.

Talks are taking place following months of speculation, after Deutsche Bank CEO Christian Sewing reportedly withdrew his opposition to a deal. Media reports have suggested that the German government, which owns 15 percent of Commerzbank, is backing the deal – even though it could cause a multi-billion euro financial hole – because it would force the re-valuation of the lenders’ assets.

Those financial pitfalls could also be passed on to Germany’s workforce. German Chancellor Angela Merkel’s chief of staff said Monday that the government was looking into potential job losses if a merger went ahead. According to German union Verdi, 30,000 jobs could be at risk, Reuters reported.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: chloe taylor, krisztian bocsi, bloomberg, getty images
Keywords: news, cnbc, companies, deutsche, bank, potential, deal, surge, commerzbank, merger, begin, workforce, talks, lenders, financial, shares, german


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House Judiciary Committee chair Nadler says Trump obstructed justice

House Judiciary Chairman Jerry Nadler said Sunday he believes that President Donald Trump has obstructed justice and announced plans to request documents from more than five dozen people in the president’s circle, including his son and a top company executive. Nadler, D-NY, told ABC News’ “This Week” that the committee will “begin the investigations to present the case … about obstruction of justice, corruption and abuse of power.” “We’re far from making decisions” about impeachment, Nadler sa


House Judiciary Chairman Jerry Nadler said Sunday he believes that President Donald Trump has obstructed justice and announced plans to request documents from more than five dozen people in the president’s circle, including his son and a top company executive. Nadler, D-NY, told ABC News’ “This Week” that the committee will “begin the investigations to present the case … about obstruction of justice, corruption and abuse of power.” “We’re far from making decisions” about impeachment, Nadler sa
House Judiciary Committee chair Nadler says Trump obstructed justice Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-03  Authors: dan mangan, saul loeb, afp, getty images
Keywords: news, cnbc, companies, week, including, judiciary, cohen, impeachment, begin, obstructed, trump, house, president, chair, justice, nadler, committee


House Judiciary Committee chair Nadler says Trump obstructed justice

House Judiciary Chairman Jerry Nadler said Sunday he believes that President Donald Trump has obstructed justice and announced plans to request documents from more than five dozen people in the president’s circle, including his son and a top company executive.

Nadler, D-NY, told ABC News’ “This Week” that the committee will “begin the investigations to present the case … about obstruction of justice, corruption and abuse of power.”

The committee, which would be responsible for any impeachment proceedings against Trump, will ask for documents from people in the White House, the Justice Department, and the Trump Organization — including top executives Donald Trump Jr. and Allen Weisselberg — to begin presenting that case “to the American people,” Nadler said.

But Nadler, speaking days after Trump’s former lawyer and fixer Michael Cohen testified to Congress about multiple possible crimes by the president, pointedly stopped short of saying he would seek Trump’s impeachment.

“We’re far from making decisions” about impeachment, Nadler said.

“This Week” host George Stephanopolous asked: “Do you think the president obstructed justice?”

“Yes, I do,” Nadler answered.

Later on “This Week,” the Republican leader in the House said Trump had done nothing to warrant being impeached and accused Nadler of being set on unseating the president despite that fact.

“I think Congressman [Jerrold] Nadler decided to impeach the president the day the president won the election,” said House Minority Leader Rep. Kevin McCarthy, R-Calif.

“Listen to exactly what he said. He talks about impeachment before he even became chairman, and then he says you got to persuade people to get there. There’s nothing that the president did wrong,” McCarthy said.

Stephanopoulos then asked, “Nothing?”

McCarthy answered: “In this process, to be impeached? Show me where the president did anything to be impeached.”

Last week, Cohen, 52, testified publicly for more than seven hours at the House Oversight and Government Reform Committee.

He detailed how Trump had personally reimbursed him for hush-money payments Cohen has made to porn star Stormy Daniels and directed him to lie about why those payments were made. Cohen also spoke of how the Trump Organization had inflated assets in some cases and deflated them in others to mislead entities, which would have constituted tax and insurance fraud.

Cohen is due to begin serving a three-year federal prison sentence on May 6 for multiple crimes, including some related to his work for Trump. He is cooperating with special counsel Robert Mueller’s probe of Russian interference in the 2016 presidential election and possible collusion by members of the Trump campaign in that interference.

The president has denied any wrongdoing.


Company: cnbc, Activity: cnbc, Date: 2019-03-03  Authors: dan mangan, saul loeb, afp, getty images
Keywords: news, cnbc, companies, week, including, judiciary, cohen, impeachment, begin, obstructed, trump, house, president, chair, justice, nadler, committee


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Payless will begin to shutter its U.S. stores Sunday

Payless ShoeSource will begin to close its U.S. stores on Sunday, a spokesperson for the shoe retailer told CNBC in a statement. The retailer will begin liquidation sales for its U.S. stores on Feb 17. It expects all stores to remain open until at least the end of March and the majority until May. In hopes of keeping some stores open, it had been seeking to find a buyer for swaths of its real estate across the U.S.Payless currently has more than 2,700 North American stores, according to its webs


Payless ShoeSource will begin to close its U.S. stores on Sunday, a spokesperson for the shoe retailer told CNBC in a statement. The retailer will begin liquidation sales for its U.S. stores on Feb 17. It expects all stores to remain open until at least the end of March and the majority until May. In hopes of keeping some stores open, it had been seeking to find a buyer for swaths of its real estate across the U.S.Payless currently has more than 2,700 North American stores, according to its webs
Payless will begin to shutter its U.S. stores Sunday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: lauren hirsch, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, website, open, retailer, winding, payless, bankruptcy, spokesperson, begin, stores, liquidation, american, shutter


Payless will begin to shutter its U.S. stores Sunday

Payless ShoeSource will begin to close its U.S. stores on Sunday, a spokesperson for the shoe retailer told CNBC in a statement.

The retailer will begin liquidation sales for its U.S. stores on Feb 17. It is also winding down its e-commerce operations. It expects all stores to remain open until at least the end of March and the majority until May.

CNBC previously reported the chain was preparing for a potentially imminent bankruptcy. In hopes of keeping some stores open, it had been seeking to find a buyer for swaths of its real estate across the U.S.

Payless currently has more than 2,700 North American stores, according to its website. The liquidation will not impact its franchised or Latin American stores, the spokesperson said.

Payless, which first filed for bankruptcy protection in April 2017, had been notable for its ability to emerge from bankruptcy, a feat many retailers, like Toys R US, have been unable to achieve. Still, several of its peers, like Gymboree, have emerged from bankruptcy only to boomerang back.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: lauren hirsch, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, website, open, retailer, winding, payless, bankruptcy, spokesperson, begin, stores, liquidation, american, shutter


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Foxconn to begin assembling top-end Apple iPhones in India in 2019: Source

Apple will begin assembling its top-end iPhones in India through the local unit of Foxconn as early as 2019, the first time the Taiwanese contract manufacturer will have made the product in the country, according to a source familiar with the matter. Importantly, Foxconn will be assembling the most expensive models, such as devices in the flagship iPhone X family, the source said, potentially taking Apple’s business in India to a new level. The work will take place at Foxconn’s plant in Sriperum


Apple will begin assembling its top-end iPhones in India through the local unit of Foxconn as early as 2019, the first time the Taiwanese contract manufacturer will have made the product in the country, according to a source familiar with the matter. Importantly, Foxconn will be assembling the most expensive models, such as devices in the flagship iPhone X family, the source said, potentially taking Apple’s business in India to a new level. The work will take place at Foxconn’s plant in Sriperum
Foxconn to begin assembling top-end Apple iPhones in India in 2019: Source Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-27  Authors: afp, getty images
Keywords: news, cnbc, companies, assembling, source, phones, iphones, models, apple, begin, tamil, investment, 2019, plant, iphone, topend, foxconn, india


Foxconn to begin assembling top-end Apple iPhones in India in 2019: Source

Apple will begin assembling its top-end iPhones in India through the local unit of Foxconn as early as 2019, the first time the Taiwanese contract manufacturer will have made the product in the country, according to a source familiar with the matter.

Importantly, Foxconn will be assembling the most expensive models, such as devices in the flagship iPhone X family, the source said, potentially taking Apple’s business in India to a new level.

The work will take place at Foxconn’s plant in Sriperumbudur town in the southern state of Tamil Nadu, this source added.

Foxconn, which already makes phones for Xiaomi Corp, will invest 25 billion Indian rupees ($356 million) to expand the plant, including investment in iPhone production, Tamil Nadu’s Industries Minister M C Sampath told Reuters.

The investment may create as many as 25,000 jobs, he added.

The other source declined to be named as this person is not authorized to speak to the media. A third source confirmed Foxconn planned to assemble iPhones in India.

The Hindu newspaper first reported on December 24 that the Foxconn plant would begin manufacturing various models of the iPhone. Reuters is first to report the size of the investment and the kind of phones to be assembled.


Company: cnbc, Activity: cnbc, Date: 2018-12-27  Authors: afp, getty images
Keywords: news, cnbc, companies, assembling, source, phones, iphones, models, apple, begin, tamil, investment, 2019, plant, iphone, topend, foxconn, india


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Tesla’s China factory is set to begin production late next year, Shanghai government says

Tesla is on pace to begin production at its factory in China in the second half of next year, the Shanghai government said Wednesday. Land leveling is basically complete and construction is about to begin, with the factory expected to be put partially into operation in the second half of 2019, according to an official WeChat post from the government. The article described a visit by Shanghai Mayor Ying Yong and Vice Mayor Wu Qing. In mid-October, Tesla officially acquired an 864,885-square meter


Tesla is on pace to begin production at its factory in China in the second half of next year, the Shanghai government said Wednesday. Land leveling is basically complete and construction is about to begin, with the factory expected to be put partially into operation in the second half of 2019, according to an official WeChat post from the government. The article described a visit by Shanghai Mayor Ying Yong and Vice Mayor Wu Qing. In mid-October, Tesla officially acquired an 864,885-square meter
Tesla’s China factory is set to begin production late next year, Shanghai government says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: evelyn cheng, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, electric, costs, second, china, begin, wechat, mayor, late, half, production, official, shanghai, teslas, tesla, factory, set


Tesla's China factory is set to begin production late next year, Shanghai government says

Tesla is on pace to begin production at its factory in China in the second half of next year, the Shanghai government said Wednesday.

Land leveling is basically complete and construction is about to begin, with the factory expected to be put partially into operation in the second half of 2019, according to an official WeChat post from the government. The article described a visit by Shanghai Mayor Ying Yong and Vice Mayor Wu Qing.

Tesla did not immediately respond to an emailed request for comment.

In mid-October, Tesla officially acquired an 864,885-square meter plot in Shanghai’s Lingang area for the electric car maker’s first factory outside the U.S.

Elon Musk’s company has also launched an official WeChat account for hiring locals.

Producing in China, the world’s largest market for electric vehicles, would allow Tesla to reduce costs significantly. The company has said it is operating at a 55 percent to 60 percent cost disadvantage with a domestic peer due to ocean transport costs and tariffs.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: evelyn cheng, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, electric, costs, second, china, begin, wechat, mayor, late, half, production, official, shanghai, teslas, tesla, factory, set


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North and South Korea begin removing landmines along fortified border

Troops from North and South Korea began removing some landmines along their heavily fortified border on Monday, the South’s defense ministry said, as part of a pact to reduce tension and build trust on the divided peninsula. Project details were agreed during last month’s summit in Pyongyang, the capital of North Korea, between its leader, Kim Jong Un, and South Korean President Moon Jae-in. There was no immediate confirmation from North Korea that its troops had begun the process. In November 2


Troops from North and South Korea began removing some landmines along their heavily fortified border on Monday, the South’s defense ministry said, as part of a pact to reduce tension and build trust on the divided peninsula. Project details were agreed during last month’s summit in Pyongyang, the capital of North Korea, between its leader, Kim Jong Un, and South Korean President Moon Jae-in. There was no immediate confirmation from North Korea that its troops had begun the process. In November 2
North and South Korea begin removing landmines along fortified border Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: pyeongyang press corps, pool, getty images
Keywords: news, cnbc, companies, troops, removing, soldiers, korean, border, begin, jsa, summit, fortified, landmines, korea, north, ministry, south


North and South Korea begin removing landmines along fortified border

Troops from North and South Korea began removing some landmines along their heavily fortified border on Monday, the South’s defense ministry said, as part of a pact to reduce tension and build trust on the divided peninsula.

Project details were agreed during last month’s summit in Pyongyang, the capital of North Korea, between its leader, Kim Jong Un, and South Korean President Moon Jae-in.

In a statement, the ministry said the two sides agreed to remove all landmines in the so-called Joint Security Area (JSA) in Panmunjom within the next 20 days, with military engineers performing the hazardous task on the South Korean side.

There was no immediate confirmation from North Korea that its troops had begun the process.

The deal also provides for removal of guard posts and weapons from the JSA to follow the removal of the mines, with the troops remaining there to be left unarmed.

The JSA is the only spot along the 155-mile -long “demilitarized zone” (DMZ) where troops from both Koreas are face to face, and it is also staffed by United Nations troops.

In November 2017, North Korean troops at the JSA shot one of their soldiers defecting to the South five times.

Since then, however, it has been the scene of the first dramatic April summit between Kim and Moon, as well as their second, more low-key meeting, in May.

At the April summit, the two Koreas announced their intention to turn the DMZ — long a symbol of tension and division — into a “peace zone.”

They have already dismantled propaganda loudspeakers and some guard posts along the border.

Demining projects are also set to begin on Monday in Gangwon province in eastern South Korea, to allow teams to search for the remains of soldiers killed in the 1950-1953 Korean War, the ministry added.

More than a million landmines were laid in border areas including the DMZ and the Civilian Control Zone in the South, say demining experts, and civilians and soldiers alike have been killed or injured by them.

In 2015, two South Korean soldiers were maimed by what Seoul said was a North Korean landmine, an accusation the North denied.


Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: pyeongyang press corps, pool, getty images
Keywords: news, cnbc, companies, troops, removing, soldiers, korean, border, begin, jsa, summit, fortified, landmines, korea, north, ministry, south


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Watch: Confirmation hearings begin for Trump Supreme Court nominee Brett Kavanaugh

President Donald Trump’s nominee to the Supreme Court Brett Kavanaugh will face senators on the Judiciary Committee on Tuesday for the first day of his confirmation hearings. The hearings will begin with opening statements from Kavanaugh and lawmakers, and are expected to last three to four days. Circuit Court of Appeals for the District of Columbia, to replace former Justice Anthony Kennedy, who often served as the court’s swing vote. His confirmation by the Senate would likely move the high co


President Donald Trump’s nominee to the Supreme Court Brett Kavanaugh will face senators on the Judiciary Committee on Tuesday for the first day of his confirmation hearings. The hearings will begin with opening statements from Kavanaugh and lawmakers, and are expected to last three to four days. Circuit Court of Appeals for the District of Columbia, to replace former Justice Anthony Kennedy, who often served as the court’s swing vote. His confirmation by the Senate would likely move the high co
Watch: Confirmation hearings begin for Trump Supreme Court nominee Brett Kavanaugh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-04  Authors: cnbccom staff, tucker higgins
Keywords: news, cnbc, companies, supreme, watch, court, vote, senate, brett, begin, trump, trumps, hearings, confirmation, kavanaugh, senators, majority, nominee, lawmakers


Watch: Confirmation hearings begin for Trump Supreme Court nominee Brett Kavanaugh

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President Donald Trump’s nominee to the Supreme Court Brett Kavanaugh will face senators on the Judiciary Committee on Tuesday for the first day of his confirmation hearings. The hearings will begin with opening statements from Kavanaugh and lawmakers, and are expected to last three to four days.

Trump nominated Kavanaugh, a judge on the U.S. Circuit Court of Appeals for the District of Columbia, to replace former Justice Anthony Kennedy, who often served as the court’s swing vote. His confirmation by the Senate would likely move the high court to the right and solidify a conservative majority for years to come.

Democrats have vigorously opposed Kavanaugh’s nomination and argued for hearings to be postponed, though the party does not have a clear path to blocking his nomination.

The GOP needs only a simple majority to confirm Trump’s nominee thanks to a rule change last year, and the Senate’s composition narrowly favors them with 50 Republican lawmakers currently serving in the body. Three Democratic senators voted to confirm Trump’s last nominee, Justice Neil Gorsuch, to the court. Gorsuch was confirmed by the full senate last April by a vote of 54–45.


Company: cnbc, Activity: cnbc, Date: 2018-09-04  Authors: cnbccom staff, tucker higgins
Keywords: news, cnbc, companies, supreme, watch, court, vote, senate, brett, begin, trump, trumps, hearings, confirmation, kavanaugh, senators, majority, nominee, lawmakers


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