Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th


Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


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Yellen warns of another potential financial crisis: ‘Gigantic holes in the system’

“I think things have improved, but then I think there are gigantic holes in the system,” Yellen said Monday night in a discussion moderated by New York Times columnist Paul Krugman at CUNY. She said regulators can only address such problems at individual banks not throughout the financial system. So I do worry that we could have another financial crisis.” Current Fed officials have pushed back against criticism that their reforms are making the system riskier, saying they are making the system


“I think things have improved, but then I think there are gigantic holes in the system,” Yellen said Monday night in a discussion moderated by New York Times columnist Paul Krugman at CUNY. She said regulators can only address such problems at individual banks not throughout the financial system. So I do worry that we could have another financial crisis.” Current Fed officials have pushed back against criticism that their reforms are making the system riskier, saying they are making the system
Yellen warns of another potential financial crisis: ‘Gigantic holes in the system’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-11  Authors: steve liesman, justin chin, bloomberg, getty images
Keywords: news, cnbc, companies, holes, fed, potential, regulatory, yellen, system, gigantic, crisis, think, things, financial, warns, current, york


Yellen warns of another potential financial crisis: 'Gigantic holes in the system'

Former Federal Reserve Chair Janet Yellen told a New York audience she fears there could be another financial crisis because banking regulators have seen reductions in their authority to address panics and because of the current push to deregulate.

“I think things have improved, but then I think there are gigantic holes in the system,” Yellen said Monday night in a discussion moderated by New York Times columnist Paul Krugman at CUNY. “The tools that are available to deal with emerging problems are not great in the United States.”

Yellen cited leverage loans as an area of concern, something also mentioned by the current Fed leadership. She said regulators can only address such problems at individual banks not throughout the financial system. The former fed chair, now a scholar at the Brookings Institution, said there remains an agenda of unfinished regulation. “I’m not sure we’re working on those things in the way we should, and then there remain holes, and then there’s regulatory pushback. So I do worry that we could have another financial crisis.”

In the wake of the financial crisis, some agency regulatory powers were vastly expanded, but others, for example, the ability of the Fed to lend to an individual company in a crisis, were curtailed. Current Fed officials have pushed back against criticism that their reforms are making the system riskier, saying they are making the system more efficient.

Speaking in London in June 2017, shortly after leaving office, Yellen had said she did not believe there would be another financial crisis in our lifetimes because of financial reforms. However, she did warn at the time about the deregulatory efforts just then underway.

WATCH: The Next Recession: Europe could ‘infect us’ says former Dallas Fed president Richard Fisher


Company: cnbc, Activity: cnbc, Date: 2018-12-11  Authors: steve liesman, justin chin, bloomberg, getty images
Keywords: news, cnbc, companies, holes, fed, potential, regulatory, yellen, system, gigantic, crisis, think, things, financial, warns, current, york


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Tokyo prosecutors indict Nissan’s ex-chairman Ghosn for financial misconduct

Both Nissan and its former chairman Carlos Ghosn have been charged by Japanese prosecutors over financial misconduct, according to a statement from Nissan. Ghosn was arrested in November for under-reporting his compensation in the company’s financial statements over a period of five years. Nissan added that, in regards to Ghosn, “numerous other significant acts of misconduct have been uncovered, such as personal use of company assets.” On Monday, Nissan confirmed that both Ghosn and Kelly had be


Both Nissan and its former chairman Carlos Ghosn have been charged by Japanese prosecutors over financial misconduct, according to a statement from Nissan. Ghosn was arrested in November for under-reporting his compensation in the company’s financial statements over a period of five years. Nissan added that, in regards to Ghosn, “numerous other significant acts of misconduct have been uncovered, such as personal use of company assets.” On Monday, Nissan confirmed that both Ghosn and Kelly had be
Tokyo prosecutors indict Nissan’s ex-chairman Ghosn for financial misconduct Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: spriha srivastava, issei kato, brent lewin, bloomberg, getty images
Keywords: news, cnbc, companies, nissans, ghosn, securities, underreporting, company, prosecutors, indict, statement, nissan, making, disclosures, tokyo, misconduct, exchairman, financial


Tokyo prosecutors indict Nissan's ex-chairman Ghosn for financial misconduct

Both Nissan and its former chairman Carlos Ghosn have been charged by Japanese prosecutors over financial misconduct, according to a statement from Nissan.

Ghosn was arrested in November for under-reporting his compensation in the company’s financial statements over a period of five years. The auto giant said in a statement in November that “over many years” Ghosn and board director, Greg Kelly, had been under-reporting compensation amounts to the Tokyo Stock Exchange securities report.

Nissan added that, in regards to Ghosn, “numerous other significant acts of misconduct have been uncovered, such as personal use of company assets.” The company said Ghosn had also made inappropriate investments.

On Monday, Nissan confirmed that both Ghosn and Kelly had been indicted for “violating the Japan Financial Instruments and Exchange Act, namely making false disclosures in annual securities report.”

Prosecutors have also charged Nissan as a legal entity for the same violation, the company confirmed.

“Nissan takes this situation extremely seriously. Making false disclosures in annual securities reports greatly harms the integrity of Nissan’s public disclosures in the securities markets, and the company expresses its deepest regret,” Nissan said in a statement.

Ghosn, who headed the Renault-Nissan-Mitsubishi alliance, has previously denied the accusations.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: spriha srivastava, issei kato, brent lewin, bloomberg, getty images
Keywords: news, cnbc, companies, nissans, ghosn, securities, underreporting, company, prosecutors, indict, statement, nissan, making, disclosures, tokyo, misconduct, exchairman, financial


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China’s Cosco and Abu Dhabi Ports develop Khalifa to support Belt and Road initiative

Monday marks the inauguration of a 35-year concession agreement between Abu Dhabi Ports and China Ocean Shipping Company (Cosco) Shipping Ports. The deal will allow Cosco to operate and develop a new container terminal in Khalifa Port to support trade flows expected from China’s 60-country-wide infrastructure project. The belt and road initiative is a vast project designed to link China with much of Asia, Europe the Middle East and Africa, and to increase Beijing’s political and trade influence


Monday marks the inauguration of a 35-year concession agreement between Abu Dhabi Ports and China Ocean Shipping Company (Cosco) Shipping Ports. The deal will allow Cosco to operate and develop a new container terminal in Khalifa Port to support trade flows expected from China’s 60-country-wide infrastructure project. The belt and road initiative is a vast project designed to link China with much of Asia, Europe the Middle East and Africa, and to increase Beijing’s political and trade influence
China’s Cosco and Abu Dhabi Ports develop Khalifa to support Belt and Road initiative Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: karen gilchrist, bloomberg, getty images
Keywords: news, cnbc, companies, khalifa, east, dhabi, serving, support, cosco, middle, road, initiative, trade, port, develop, ports, shipping, belt, chinas


China's Cosco and Abu Dhabi Ports develop Khalifa to support Belt and Road initiative

Monday marks the inauguration of a 35-year concession agreement between Abu Dhabi Ports and China Ocean Shipping Company (Cosco) Shipping Ports. The deal will allow Cosco to operate and develop a new container terminal in Khalifa Port to support trade flows expected from China’s 60-country-wide infrastructure project.

The belt and road initiative is a vast project designed to link China with much of Asia, Europe the Middle East and Africa, and to increase Beijing’s political and trade influence globally.

The port, which is situated halfway between Abu Dhabi and Dubai, now serves over 25 shipping lines and has links to 70 international destinations. Al Shamisi said that makes it a “strategic location” for trade, not only within the United Arab Emirates and the Middle East, but the wider ecosystem.

“It’s huge … We are not serving the Middle East per se, but we are serving the North Africa Indian subcontinent and we are transitioning point to all of these destinations,” said Al Shamisi.

“Having such infrastructure where the biggest ships can enter and use Khalifa Port as a hub, it will serve the one belt one road, and it’s actually the heart of the one belt one road,” he added.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: karen gilchrist, bloomberg, getty images
Keywords: news, cnbc, companies, khalifa, east, dhabi, serving, support, cosco, middle, road, initiative, trade, port, develop, ports, shipping, belt, chinas


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Sudden departure of India’s central bank chief raises questions

The sudden departure of India’s central bank governor Urjit Patel on Monday has raised a number of questions about the Reserve Bank of India’s ongoing struggles. Patel was reportedly criticized by the government for the central bank’s relentless push to clean up India’s banking sector. Patel’s resignation comes less than three years after his predecessor Raghuram Rajan was not confirmed for a second term as central bank governor in 2016, likely due to growing tensions between him and India’s gov


The sudden departure of India’s central bank governor Urjit Patel on Monday has raised a number of questions about the Reserve Bank of India’s ongoing struggles. Patel was reportedly criticized by the government for the central bank’s relentless push to clean up India’s banking sector. Patel’s resignation comes less than three years after his predecessor Raghuram Rajan was not confirmed for a second term as central bank governor in 2016, likely due to growing tensions between him and India’s gov
Sudden departure of India’s central bank chief raises questions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: seema mody, dhiraj singh, bloomberg, getty images
Keywords: news, cnbc, companies, sudden, raises, questions, indias, modi, senior, chief, rbi, policy, say, investors, departure, bank, central, india


Sudden departure of India's central bank chief raises questions

The sudden departure of India’s central bank governor Urjit Patel on Monday has raised a number of questions about the Reserve Bank of India’s ongoing struggles.

The primary focus for investors is whether Patel resigned due to growing pressure from India’s government to lower rates and conduct looser monetary policy as the countdown to next year’s general election kicks off. Patel was reportedly criticized by the government for the central bank’s relentless push to clean up India’s banking sector.

“Investors’ concerns over the independence of the RBI are now higher than ever, but it is unlikely that the government will name another figure with a reputation for independence to lead the Bank,” said Sasha Riser-Kositsky, a senior analyst at Eurasia Group.

Patel’s resignation comes less than three years after his predecessor Raghuram Rajan was not confirmed for a second term as central bank governor in 2016, likely due to growing tensions between him and India’s government.

“Investor confidence will be roiled due to this (losing two independently minded central bank governors within one term is not a great image for foreign investors),” said Akhil Bery, a senior research associate in McLarty Associates’ India & South Asia practice.

Experts say the timing of Patel’s departure from his post as central bank governor comes at a challenging time for two reasons.

India’s government lead by Prime Minister Narendra Modi is facing reelection next year. One factor that helped Modi in 2014 was the backing of investors who supported his pro-business policies. However analysts say Patel’s departure could have an impact on Modi’s image.

On Tuesday, results from four state elections in India will shed light on whether Modi is losing support from his base ahead of the national election in April 2019.

At same time, India is trying to attract new investors and companies while also fending off competition from China. Analysts say any uncertainty in India’s governance of monetary policy could be a setback.

Alyssa Ayres, a senior fellow at the Council on Foreign Relations and author of “Our Time Has Come: How India is Making Its Place in the World,” told CNBC over email: “The widely-discussed allegation that the Modi government is pushing for greater authority over the RBI and diminishing its traditional independence is further cause for concern. The Indian economy has done well with an RBI that functions independently and through its own economic, not political, decisions. It should be allowed to continue without political interference.”

The next monetary policy meeting in India is set for Friday.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: seema mody, dhiraj singh, bloomberg, getty images
Keywords: news, cnbc, companies, sudden, raises, questions, indias, modi, senior, chief, rbi, policy, say, investors, departure, bank, central, india


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India’s cenbank governor Urjit Patel steps down, stuns markets

“Quite clearly the resignation of Urjit Patel shows that nothing has changed,” Yashwant Sinha, a former finance minister and member of the ruling Bharatiya Janata Party, told CNBC-TV18. The Modi government has stacked the RBI’s 18-member board with its own nominees, in what critics say is a move to exert greater control over the central bank’s regulatory powers. Patel’s sudden resignation is expected to roil financial markets on Tuesday. Investors will be keen to know who is Patel’s replacement


“Quite clearly the resignation of Urjit Patel shows that nothing has changed,” Yashwant Sinha, a former finance minister and member of the ruling Bharatiya Janata Party, told CNBC-TV18. The Modi government has stacked the RBI’s 18-member board with its own nominees, in what critics say is a move to exert greater control over the central bank’s regulatory powers. Patel’s sudden resignation is expected to roil financial markets on Tuesday. Investors will be keen to know who is Patel’s replacement
India’s cenbank governor Urjit Patel steps down, stuns markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: dhiraj singh bloomberg, bloomberg, getty images
Keywords: news, cnbc, companies, markets, patel, indias, urjit, stuns, rbi, resignation, regulatory, cenbank, minister, financial, banks, dispute, patels, steps, central, governor


India's cenbank governor Urjit Patel steps down, stuns markets

Analysts and market watchers said the recent dispute between the RBI and the government could have been a major factor in Patel’s decision to resign.

“Quite clearly the resignation of Urjit Patel shows that nothing has changed,” Yashwant Sinha, a former finance minister and member of the ruling Bharatiya Janata Party, told CNBC-TV18.

“The resignation is a clear sign of the government trying to interfere with the working of the RBI,” he added.

Prime Minister Narendra Modi’s government has been putting pressure on the RBI to ease its regulatory curbs on some banks, infuse more liquidity and relax capital norms as it faces a slowing economy ahead of general elections due by May.

RBI Deputy Governor Viral Acharya said in a speech in October that undermining a central bank’s autonomy could be “catastrophic”, prompting a public dispute that added to the rift between the bank and government.

The Modi government has stacked the RBI’s 18-member board with its own nominees, in what critics say is a move to exert greater control over the central bank’s regulatory powers.

Patel’s sudden resignation is expected to roil financial markets on Tuesday.

Investors will be keen to know who is Patel’s replacement and the direction of the central bank’s financial and monetary policy, analysts said.

“Markets certainly will be concerned unless there is further clarification that come through tonight,” said R. Sivakumar, head of fixed income at Axis Mutual Fund.

“I think tomorrow and over the next few days we can expect heightened volatility in the markets,” he added.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: dhiraj singh bloomberg, bloomberg, getty images
Keywords: news, cnbc, companies, markets, patel, indias, urjit, stuns, rbi, resignation, regulatory, cenbank, minister, financial, banks, dispute, patels, steps, central, governor


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Facebook ramps up ad transparency ahead of India’s 2019 general elections

Advertisers in India who want to run political ads on Facebook will need to confirm their identity and location to prevent abuse of the system ahead of the 2019 general elections, the social networking site said. As the world’s largest democracy heads to polls next year for its general elections, Facebook announced Thursday that the new transparency measures were aimed at defending any possible foreign interference in the polls. Advertisers seeking to run ads related to Indian politics will have


Advertisers in India who want to run political ads on Facebook will need to confirm their identity and location to prevent abuse of the system ahead of the 2019 general elections, the social networking site said. As the world’s largest democracy heads to polls next year for its general elections, Facebook announced Thursday that the new transparency measures were aimed at defending any possible foreign interference in the polls. Advertisers seeking to run ads related to Indian politics will have
Facebook ramps up ad transparency ahead of India’s 2019 general elections Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: harini v, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, identity, ads, indias, ad, social, run, transparency, location, ramps, general, interference, facebook, ahead, elections, 2019, political


Facebook ramps up ad transparency ahead of India's 2019 general elections

Advertisers in India who want to run political ads on Facebook will need to confirm their identity and location to prevent abuse of the system ahead of the 2019 general elections, the social networking site said.

As the world’s largest democracy heads to polls next year for its general elections, Facebook announced Thursday that the new transparency measures were aimed at defending any possible foreign interference in the polls.

Advertisers seeking to run ads related to Indian politics will have to use their devices to submit proof of identity and location. This confirmation process might take a few weeks, the social media firm said.

“It’s important that people know more about the ads they see — especially those that reference political figures, political parties, elections, and legislation. That’s why we’re making big changes to the way we manage these ads on Facebook and Instagram,” Facebook said. “By authorizing advertisers and bringing more transparency to ads, we can better defend against foreign interference in India’s elections.”


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: harini v, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, identity, ads, indias, ad, social, run, transparency, location, ramps, general, interference, facebook, ahead, elections, 2019, political


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Google gears up for congressional hearing with patriotic prepared remarks

Google has staunchly denied these accusations when they’ve come up in the past, and did so again in Pichai’s remarks. Critics have contrasted this move with how Google has worked with China on controversial plans to launch a censored search engine there. “As an American company, we cherish the values and freedoms that have allowed us to grow and serve so many users,” he wrote. Today, Google is more than a search engine. As an American company, we cherish the values and freedoms that have allowed


Google has staunchly denied these accusations when they’ve come up in the past, and did so again in Pichai’s remarks. Critics have contrasted this move with how Google has worked with China on controversial plans to launch a censored search engine there. “As an American company, we cherish the values and freedoms that have allowed us to grow and serve so many users,” he wrote. Today, Google is more than a search engine. As an American company, we cherish the values and freedoms that have allowed
Google gears up for congressional hearing with patriotic prepared remarks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: jillian donfro, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, products, remarks, google, technology, search, american, today, congressional, work, hearing, company, patriotic, prepared, gears, users, googles


Google gears up for congressional hearing with patriotic prepared remarks

CEO Sundar Pichai put an emphasis on Google’s patriotism in his prepared remarks for a congressional hearing on Tuesday where he’ll likely face questions about a purported bias against conservative content on search and YouTube.

“Even as we expand into new markets we never forget our American roots,” he wrote.

Tuesday’s hearing will focus on potential political bias on Google’s platforms, as well as the company’s data filtering practices, with House Majority leader Kevin McCarthy (R-Ca.) highlighting claims that Google’s business practices “may have been affected by political bias” in a statement.

Google has staunchly denied these accusations when they’ve come up in the past, and did so again in Pichai’s remarks.

“I lead this company without political bias and work to ensure that our products continue to operate that way,” Pichai writes. “To do otherwise would go against our core principles and our business interests.”

By underscoring Google’s patriotism Pichai’s comments may also attempt to address criticism around the company’s decision earlier this year not to renew a Pentagon contract for analyzing drone videos using artificial intelligence. Critics have contrasted this move with how Google has worked with China on controversial plans to launch a censored search engine there.

After The Intercept first reported details about Google’s censored search plans, human rights groups, lawmakers, and Google’s own employees all blasted the company, arguing that by cooperating with the Chinese government, it would have violated principles of free expression and users’ privacy rights, among other issues.

The censored search app, which Google has said it is “not close” to launching, would have debatably violated a set of artificial intelligence ethics that the company posted following employee blowback to its dropped Department of Defense contract. The document stipulated that Google would work with the government and military on cybersecurity and training, but not on weapons or surveillance that violates “internationally accepted norms.”

Pichai never directly mentions either controversy, but his prepared comments dance around both.

“As an American company, we cherish the values and freedoms that have allowed us to grow and serve so many users,” he wrote. “I am proud to say we do work, and we will continue to work, with the government to keep our country safe and secure.”

Here are Pichai’s full remarks:

Chairman Goodlatte, Ranking Member Nadler, distinguished members of the Committee: Thank you for the opportunity to be here today. I joined Google 15 years ago and have been privileged to serve as CEO for the past three years—though my love for information and technology began long before that. It’s been 25 years since I made the US my home. Growing up in India, I have distinct memories of when my family got its first phone and our first television. Each new technology made a profound difference in our lives. Getting the phone meant that I could call ahead to the hospital to check that the blood results were in before I traveled 2 hours by bus to get them. The television, well, it only had one channel, but I couldn’t have been more thrilled by its arrival! Those experiences made me a technology optimist, and I remain one today. Not only because I believe in technology, but because I believe in people and their ability to use technology to improve their lives. I’m incredibly proud of what Google does to empower people around the world, especially here in the US. I’d like to take a moment to share a bit of background on that. 20 years ago, two students—one from Michigan and one from Maryland—came together at Stanford with a big idea: to provide users with access to the world’s information. That mission still drives everything we do, whether that’s saving you a few minutes on your morning commute or helping doctors detect disease and save lives. Today, Google is more than a search engine. We are a global company that is committed to 1 building products for everyone. That means working with many industries, from education and healthcare to manufacturing and entertainment. Even as we expand into new markets we never forget our American roots. It’s no coincidence that a company dedicated to the free flow of information was founded right here in the US. As an American company, we cherish the values and freedoms that have allowed us to grow and serve so many users. I am proud to say we do work, and we will continue to work, with the government to keep our country safe and secure. Over the years our footprint has expanded far beyond California to states such as Texas, Virginia, Oklahoma and Alabama. Today in the US, we’re growing faster outside of the Bay Area than within it. I’ve had the opportunity to travel across the country and see all the places that are powering our digital economy—from Clarksville, to Pittsburgh, to San Diego, where we recently launched a partnership with the USO to help veterans and military families. Along the way, I’ve met many people who depend on Google to learn new skills, find jobs, or build new businesses. Over the past year, we have supported more than 1.5 million American businesses. Over the past three, we have made direct contributions of $150 billion to the US economy, added more than 24,000 employees, and paid over $43 billion to US partners across Search, YouTube, and Android. These investments strengthen our communities and support thousands of American jobs. They also allow us to provide great services to our users to help them through the day. It’s an honor to play this role in people’s lives, and it’s one we know comes with great responsibility. Protecting the privacy and security of our users has long been an essential part of our mission. We have invested an enormous amount of work over the years to bring choice, transparency, and control to our users. These values are built into every product we make. We recognize the important role of governments, including this Committee, in setting rules for the development and use of technology. To that end, we support federal privacy legislation and proposed a legislative framework for privacy earlier this year. Users also look to us to provide accurate, trusted information. We work hard to ensure the integrity of our products, and we’ve put a number of checks and balances in place to ensure they continue to live up to our standards. I lead this company without political bias and work to ensure that our products continue to operate that way. To do otherwise would go against our core principles and our business interests. We are a company that provides platforms for diverse perspectives and opinions—and we have no shortage of them among our own employees. Some of our Googlers are former servicemen and women who have risked much in defense of our country. Some are civil libertarians who fiercely defend freedom of expression. Some are parents who worry about the role technology plays in our households. Some—like me—are immigrants to this country, profoundly grateful for the freedoms and opportunities it offers. Some of us are many of these things. Let me close by saying that leading Google has been the greatest professional honor of my life. It’s a challenging moment for our industry, but I’m privileged to be here today. I greatly appreciate you letting me share the story of Google and our work to build products worthy of the trust users place in us. Thank you for your attention. I look forward to answering your questions.

WATCH: Google’s Larry Page has backed two flying-car start-ups — here’s a look inside one of them


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: jillian donfro, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, products, remarks, google, technology, search, american, today, congressional, work, hearing, company, patriotic, prepared, gears, users, googles


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Cramer Remix: This is a good stock in a bad market

For investors scouring the increasingly volatile stock market in search of good investments, CNBC’s Jim Cramer suggested an under-the-radar name on Monday: Zuora Inc.”[CEO] Tien Tzuo delivered a good number,” in late November, Cramer, host of “Mad Money,” told a lightning round caller. It’s a good stock in a bad market.” Also in the lightning round, Cramer laid out his thoughts on the stock of struggling industrial colossus General Electric. I’d rather you be in a really high-quality company tha


For investors scouring the increasingly volatile stock market in search of good investments, CNBC’s Jim Cramer suggested an under-the-radar name on Monday: Zuora Inc.”[CEO] Tien Tzuo delivered a good number,” in late November, Cramer, host of “Mad Money,” told a lightning round caller. It’s a good stock in a bad market.” Also in the lightning round, Cramer laid out his thoughts on the stock of struggling industrial colossus General Electric. I’d rather you be in a really high-quality company tha
Cramer Remix: This is a good stock in a bad market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: elizabeth gurdus, adam jeffery, scott mlyn, adam glanzman, bloomberg, getty images
Keywords: news, cnbc, companies, really, stock, tien, cramer, good, round, remix, zuora, bad, highquality, lightning, market, jim


Cramer Remix: This is a good stock in a bad market

For investors scouring the increasingly volatile stock market in search of good investments, CNBC’s Jim Cramer suggested an under-the-radar name on Monday: Zuora Inc.

“[CEO] Tien Tzuo delivered a good number,” in late November, Cramer, host of “Mad Money,” told a lightning round caller. “It’s just that this stock is just violently out of favor.”

But “this is when you put a stock like Zuora away,” he said. “I believe in the subscription economy. I believe in what Tien Tzuo’s doing. Everyone kind of uses [Zuora] without even knowing it. It’s a good stock in a bad market.”

Also in the lightning round, Cramer laid out his thoughts on the stock of struggling industrial colossus General Electric.

“Here’s my thinking: there are so many really unbelievable stocks that are undervalued right now. I don’t want to take the risk,” he said. “Now, [at] $6, you could say, ‘Well, Jim, come on, it’s only $6 bucks.’ Well, I don’t know. I mean, remember: when it goes down, it still hurts. So you can speculate in GE, but there’s so many high-quality companies that are going down. I’d rather you be in a really high-quality company that sells at a much cheaper price-to-earnings multiple.”

Click here for the rest of Cramer’s lightning round.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: elizabeth gurdus, adam jeffery, scott mlyn, adam glanzman, bloomberg, getty images
Keywords: news, cnbc, companies, really, stock, tien, cramer, good, round, remix, zuora, bad, highquality, lightning, market, jim


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GoPro is moving camera production out of China, citing tariff worries

GoPro announced Monday it is pulling camera production for the U.S. market out of China by the summer to avoid being caught up in the Washington-Beijing trade war. Production will continue in China for non-U.S.-bound cameras, the company said. “Today’s geopolitical business environment requires agility, and we’re proactively addressing tariff concerns by moving most of our US-bound camera production out of China,” said Brian McGee, executive vice president and CFO of GoPro. “We believe this dive


GoPro announced Monday it is pulling camera production for the U.S. market out of China by the summer to avoid being caught up in the Washington-Beijing trade war. Production will continue in China for non-U.S.-bound cameras, the company said. “Today’s geopolitical business environment requires agility, and we’re proactively addressing tariff concerns by moving most of our US-bound camera production out of China,” said Brian McGee, executive vice president and CFO of GoPro. “We believe this dive
GoPro is moving camera production out of China, citing tariff worries Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: lauren feiner, david paul morris, bloomberg, getty images, brendan mcdermid
Keywords: news, cnbc, companies, moving, gopro, cameras, white, worries, camera, production, china, mcgee, tariff, citing, business, trade


GoPro is moving camera production out of China, citing tariff worries

GoPro announced Monday it is pulling camera production for the U.S. market out of China by the summer to avoid being caught up in the Washington-Beijing trade war.

Production will continue in China for non-U.S.-bound cameras, the company said. GoPro was down 1 percent in midday trading.

“Today’s geopolitical business environment requires agility, and we’re proactively addressing tariff concerns by moving most of our US-bound camera production out of China,” said Brian McGee, executive vice president and CFO of GoPro. “We believe this diversified approach to production can benefit our business regardless of tariff implications.”

The trade war between the U.S. and China has been escalating in recent months until a 90-day pause the White House said both countries’ leaders agreed to on Dec. 1.

GoPro said it owns the production equipment it uses to manufacture cameras, and relies on its manufacturing partner in China only for its facilities. Because of this, McGee said in a statement, “we expect to make this move at a relatively low cost.”


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: lauren feiner, david paul morris, bloomberg, getty images, brendan mcdermid
Keywords: news, cnbc, companies, moving, gopro, cameras, white, worries, camera, production, china, mcgee, tariff, citing, business, trade


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