Extending the Brexit deadline could cause major issues with EU elections coming

Extending the official Brexit deadline for the U.K. could bring a wave of extra logistical and political problems for the European Union. Extending the departure beyond the agreed date would likely clash with European parliamentary elections that are set to take place between May 23 and 26. The chamber is made of lawmakers from all 28 European member countries, including the U.K., and is responsible for approving European policies, such as the Union’s total budget. Macron said Wednesday that the


Extending the official Brexit deadline for the U.K. could bring a wave of extra logistical and political problems for the European Union. Extending the departure beyond the agreed date would likely clash with European parliamentary elections that are set to take place between May 23 and 26. The chamber is made of lawmakers from all 28 European member countries, including the U.K., and is responsible for approving European policies, such as the Union’s total budget. Macron said Wednesday that the
Extending the Brexit deadline could cause major issues with EU elections coming Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: silvia amaro, frederick florin, afp, getty images, simon dawson, bloomberg
Keywords: news, cnbc, companies, member, eu, parliament, cause, place, elections, brexit, issues, speaking, european, coming, extending, deadline, uk, extension, major


Extending the Brexit deadline could cause major issues with EU elections coming

Extending the official Brexit deadline for the U.K. could bring a wave of extra logistical and political problems for the European Union.

The ongoing deadlock has sparked a debate on the potential extension of Article 50 — the legal means by which the U.K. leaves the EU. However, there is strong opposition from some European lawmakers over giving more time to the U.K. to sort out its domestic politics.

The U.K. is set to leave the EU on March 29 — but this could change if the U.K. asks for an extension and the other 27 member nations accept the request. Extending the departure beyond the agreed date would likely clash with European parliamentary elections that are set to take place between May 23 and 26. The chamber is made of lawmakers from all 28 European member countries, including the U.K., and is responsible for approving European policies, such as the Union’s total budget.

“What we will not let happen, deal or no deal, is that the mess in British politics is again imported into European politics. While we understand the U.K. could need more time, for us it is unthinkable that Article 50 is prolonged beyond the European Elections,” Guy Verhofstadt, a member of the European Parliament and its representative in Brexit negotiations, said on Twitter on Wednesday.

His comments come at a time when U.K. Prime Minister Theresa May’s proposed Brexit deal suffered a historic defeat in the House of Commons on Tuesday. Meanwhile, French President Emmanuel Macron weighed in on the possibility that the U.K. would have to push back its departure date.

Macron said Wednesday that the U.K. “will take more time (to overcome the Brexit impasse), maybe they will step over the European elections in order to find something else.”

Speaking to CNBC via email Friday, Seb Dance, member of the European Parliament for the U.K. Labour party, said the prospect of having Brexit and the European elections clashing “is a logistical headache.”

“The impact of delaying Brexit on the EU elections is certainly troublesome logistically speaking,” he said, “but politically speaking it shouldn’t make a difference as it is entirely possible that elections take place in the other member states without needing to take place in Britain.”

However, some argue that even politically, it would be troublesome, as European officials and institutions want to focus on campaigning and speaking to voters ahead of the vote. The wave of populist sentiment in Europe after the fallout of the sovereign debt crisis has raised concerns, among the traditional parties, about what the next European Parliament will look like.

According to a Brussels-based European official, who did not want to be named due to the sensitivity surrounding the Brexit talks, an extension would likely mean that the U.K. would have to participate in the vote. This is because it would still technically be a member of the European Union.


Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: silvia amaro, frederick florin, afp, getty images, simon dawson, bloomberg
Keywords: news, cnbc, companies, member, eu, parliament, cause, place, elections, brexit, issues, speaking, european, coming, extending, deadline, uk, extension, major


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YouTube bans ‘dangerous’ challenges and pranks after ‘Bird Box’ stunts

YouTube will clamp down on content that shows people engaging in dangerous activities or pranks that cause emotional distress. Google’s video sharing platform published guidelines on Tuesday to address a growing number of “dangerous” trends, including a recent spike in videos showing people attempting the “Bird Box challenge.” Inspired by the Netflix movie “Bird Box,” the challenge involves attempting to perform tasks while blindfolded. “Our policies prohibiting harmful and dangerous content als


YouTube will clamp down on content that shows people engaging in dangerous activities or pranks that cause emotional distress. Google’s video sharing platform published guidelines on Tuesday to address a growing number of “dangerous” trends, including a recent spike in videos showing people attempting the “Bird Box challenge.” Inspired by the Netflix movie “Bird Box,” the challenge involves attempting to perform tasks while blindfolded. “Our policies prohibiting harmful and dangerous content als
YouTube bans ‘dangerous’ challenges and pranks after ‘Bird Box’ stunts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-16  Authors: chloe taylor, paras griffin, getty images
Keywords: news, cnbc, companies, videos, serious, harmful, emotional, cause, stunts, bans, bird, content, youtube, pranks, policies, platform, challenges, dangerous, box


YouTube bans 'dangerous' challenges and pranks after 'Bird Box' stunts

YouTube will clamp down on content that shows people engaging in dangerous activities or pranks that cause emotional distress.

Google’s video sharing platform published guidelines on Tuesday to address a growing number of “dangerous” trends, including a recent spike in videos showing people attempting the “Bird Box challenge.”

Inspired by the Netflix movie “Bird Box,” the challenge involves attempting to perform tasks while blindfolded. It is known to have led to at least one car accident, where a teenager crashed her car in Utah while driving with a hat over her eyes.

In a public post on Tuesday, a community manager at YouTube said the platform was home to “many beloved viral challenges and pranks,” but the company had a responsibility to prohibit content that encouraged harmful activities. The post noted that the Tide pod challenge — in which people filmed themselves eating pods filled with laundry detergent — and the Fire Challenge — which encouraged people to set themselves on fire — had caused death in some instances, and had “no place on YouTube.”

“Our policies prohibiting harmful and dangerous content also extend to pranks with a perceived danger of serious physical injury. We don’t allow pranks that make victims believe they’re in serious physical danger — for example, a home invasion prank or a drive-by shooting prank,” it said. “We also don’t allow pranks that cause children to experience severe emotional distress, meaning something so bad that it could leave the child traumatized for life.”

This included videos that tricked children into believing a parent had died or shamed young people for mistakes. YouTube said it would remove content that violated these policies, but it would give channels on its platform a two-month window before it began enforcing “strikes” for policy breaches.

A YouTube spokesperson told CNBC via email on Wednesday that the platform had long prohibited videos promoting harmful activities.

“We heard feedback from creators that we could provide some clarity on certain Community Guidelines, so we published materials detailing our policies against pranks that cause others to seriously fear for their safety or that cause serious emotional distress to children and vulnerable individuals,” they said.


Company: cnbc, Activity: cnbc, Date: 2019-01-16  Authors: chloe taylor, paras griffin, getty images
Keywords: news, cnbc, companies, videos, serious, harmful, emotional, cause, stunts, bans, bird, content, youtube, pranks, policies, platform, challenges, dangerous, box


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Chinese growth is more of a concern than the American economy right now, private bank says

The Chinese economy is a bigger worry right now than the U.S. economy, according to an investments expert at a private bank. Still, he ultimately expressed optimism that China’s leaders will keep their economy together. “The Chinese economy is, at the moment, a bigger cause of concern right now compared to the U.S. economy,” Brill told CNBC’s “Squawk Box.” Adding the tariff battle between the two largest economies just means growth will be “a bit more difficult” for Beijing, he noted. “This is s


The Chinese economy is a bigger worry right now than the U.S. economy, according to an investments expert at a private bank. Still, he ultimately expressed optimism that China’s leaders will keep their economy together. “The Chinese economy is, at the moment, a bigger cause of concern right now compared to the U.S. economy,” Brill told CNBC’s “Squawk Box.” Adding the tariff battle between the two largest economies just means growth will be “a bit more difficult” for Beijing, he noted. “This is s
Chinese growth is more of a concern than the American economy right now, private bank says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: everett rosenfeld, lintao zhang, pool, getty images
Keywords: news, cnbc, companies, chinas, brill, cause, bigger, economy, chinese, private, right, concern, american, term, growth, bank, short


Chinese growth is more of a concern than the American economy right now, private bank says

The Chinese economy is a bigger worry right now than the U.S. economy, according to an investments expert at a private bank.

Speaking to CNBC on Friday, Felix Brill, the head of investment solutions at Liechtenstein-based VP Bank, said investors should expect more market volatility due to the ongoing trade war negotiations between Washington and Beijing. Still, he ultimately expressed optimism that China’s leaders will keep their economy together.

“The Chinese economy is, at the moment, a bigger cause of concern right now compared to the U.S. economy,” Brill told CNBC’s “Squawk Box.”

He added that there are “clear signs” that China’s economy is slowing in the short term, and there may be more dragging on the nation as it looks to transition its economic model from one led by exportation to a more consumption-driven approach. Adding the tariff battle between the two largest economies just means growth will be “a bit more difficult” for Beijing, he noted.

But, Brill said, that doesn’t mean China won’t be able to push through those challenges.

“This is some cause for concern in the short term, but I’m confident that the Chinese authorities, again, will step in and implement additional measures to support the economy,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: everett rosenfeld, lintao zhang, pool, getty images
Keywords: news, cnbc, companies, chinas, brill, cause, bigger, economy, chinese, private, right, concern, american, term, growth, bank, short


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‘Escape Room’ fire in Poland likely to have been caused by gas leak

Investigators in Poland on Saturday blamed a gas leak in a heating system at an “Escape Room” for a fire that killed five teenage girls and injured a man. The bodies of the 15-year-old victims were found Friday in Koszalin, in northern Poland, after firefighters extinguished a blaze in an adjacent room. A spokesman for local firefighters, Tomasz Kubiak, said the units responding to the blaze had to use specialized equipment and force their way into the “Escape Room.” Poland’s interior minister h


Investigators in Poland on Saturday blamed a gas leak in a heating system at an “Escape Room” for a fire that killed five teenage girls and injured a man. The bodies of the 15-year-old victims were found Friday in Koszalin, in northern Poland, after firefighters extinguished a blaze in an adjacent room. A spokesman for local firefighters, Tomasz Kubiak, said the units responding to the blaze had to use specialized equipment and force their way into the “Escape Room.” Poland’s interior minister h
‘Escape Room’ fire in Poland likely to have been caused by gas leak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-05  Authors: radoslaw kolesnik, afp, getty images
Keywords: news, cnbc, companies, room, escape, cause, way, gas, leak, firefighters, likely, poland, girls, caused, blaze, wiring, location


'Escape Room' fire in Poland likely to have been caused by gas leak

Investigators in Poland on Saturday blamed a gas leak in a heating system at an “Escape Room” for a fire that killed five teenage girls and injured a man.

The bodies of the 15-year-old victims were found Friday in Koszalin, in northern Poland, after firefighters extinguished a blaze in an adjacent room. Prosecutors said that carbon monoxide inhalation was the likely cause of the deaths.

A 26-year-old man employed at the location was hospitalized with burns.

Koszalin prosecutor Ryszard Gasiorowski said a leak in the bottled gas heating system at the location was a probable cause of the fire. Earlier, firefighters blamed faulty electric wiring and substandard security procedures.

Gasiorowski said the fire probably broke out in the reception room and blocked the employee’s way to evacuate the girls. Autopsies will be carried out to confirm the cause of the deaths.

He said firefighters who put out the blaze and other witnesses were being questioned. The condition of the injured employee didn’t immediately allow for his questioning.

Earlier, national fire chief Leszek Suski said Saturday that electrical wiring at the location was makeshift and too close to flammable materials.

“Security was not ensured and that led to the tragedy,” Suski said.

He said there was no proper evacuation route and a “lot of negligence” at the location.

A spokesman for local firefighters, Tomasz Kubiak, said the units responding to the blaze had to use specialized equipment and force their way into the “Escape Room.”

Poland’s interior minister has ordered fire safety inspections at more than 1,000 “Escape Room” locations across the country. The first inspections were being held Saturday, the Interior Ministry said. Previously, there was no official requirement for fire safety certificates at such locations.

Highly popular among teenagers in Poland, the “Escape Room” game has players locked inside a room or building and they must find clues that help them get out.

Prime Minister Mateusz Morawiecki has sent condolences to the victims’ relatives. Officials have extended psychological, psychiatric and other support to the families. The school which the teenagers attended was extending counselling and support to their friends and colleagues. Students and residents attended a Catholic Mass on Saturday noon at the local church.

Local residents were placing flowers and lights in front of the location, a detached house.

The girls, friends from one school class, were celebrating one of their birthdays.


Company: cnbc, Activity: cnbc, Date: 2019-01-05  Authors: radoslaw kolesnik, afp, getty images
Keywords: news, cnbc, companies, room, escape, cause, way, gas, leak, firefighters, likely, poland, girls, caused, blaze, wiring, location


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Trump’s criticisms of the Fed may actually cause the central bank to ‘reassert itself’: Studzinski

President Donald Trump’s vocal displeasure with the Federal Reserve may in fact create an opposite effect — a reassertion of its independence and policy tightening path. That’s according to veteran investment banker and philanthropist John Studzinski, who argues that Fed Chairman Jerome Powell won’t bow down to pressure from the president to halt interest rate rises. The Pimco executive made the comments during an interview a week prior to the Fed’s decision on Dec. 19 to hike rates for the four


President Donald Trump’s vocal displeasure with the Federal Reserve may in fact create an opposite effect — a reassertion of its independence and policy tightening path. That’s according to veteran investment banker and philanthropist John Studzinski, who argues that Fed Chairman Jerome Powell won’t bow down to pressure from the president to halt interest rate rises. The Pimco executive made the comments during an interview a week prior to the Fed’s decision on Dec. 19 to hike rates for the four
Trump’s criticisms of the Fed may actually cause the central bank to ‘reassert itself’: Studzinski Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-24  Authors: ryan browne
Keywords: news, cnbc, companies, chairman, rate, pimco, reassert, cause, president, criticisms, central, policy, bank, yearto, going, trumps, studzinski, effect, actually, fed


Trump's criticisms of the Fed may actually cause the central bank to 'reassert itself': Studzinski

President Donald Trump’s vocal displeasure with the Federal Reserve may in fact create an opposite effect — a reassertion of its independence and policy tightening path.

That’s according to veteran investment banker and philanthropist John Studzinski, who argues that Fed Chairman Jerome Powell won’t bow down to pressure from the president to halt interest rate rises.

“He’s not going to blink and he’s going to keep his own advice with respect to what he does with his rate rises over the next 12 months,” Studzinski, managing director and vice chairman of Pimco, told CNBC’s Steve Sedgwick and Geoff Cutmore.

The Pimco executive made the comments during an interview a week prior to the Fed’s decision on Dec. 19 to hike rates for the fourth time this year.

“To a certain extent,” he continued, “any comment that Mr Trump makes about this may work to the other effect, which is he might cause the Fed to reassert itself and be even more independent.”

The Fed considers itself to be “independent within the government,” meaning it is subject to scrutiny from Congress but sets monetary policy independently of political pressures.


Company: cnbc, Activity: cnbc, Date: 2018-12-24  Authors: ryan browne
Keywords: news, cnbc, companies, chairman, rate, pimco, reassert, cause, president, criticisms, central, policy, bank, yearto, going, trumps, studzinski, effect, actually, fed


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FDA warns some antibiotics can cause fatal heart damage

Certain antibiotics can cause painful and sometimes fatal damage to the body’s main artery, the Food and Drug Administration said Thursday. Fluoroquinolone antibiotics might raise the risk of an aortic dissection, and people who are already at risk should be cautious about taking those antibiotics, the FDA said. These tears, called aortic dissections, or ruptures of an aortic aneurysm can lead to dangerous bleeding or even death,” the FDA said in a statement. People who have high blood pressure,


Certain antibiotics can cause painful and sometimes fatal damage to the body’s main artery, the Food and Drug Administration said Thursday. Fluoroquinolone antibiotics might raise the risk of an aortic dissection, and people who are already at risk should be cautious about taking those antibiotics, the FDA said. These tears, called aortic dissections, or ruptures of an aortic aneurysm can lead to dangerous bleeding or even death,” the FDA said in a statement. People who have high blood pressure,
FDA warns some antibiotics can cause fatal heart damage Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: maggie fox, justin sullivan, getty images
Keywords: news, cnbc, companies, antibiotics, heart, fatal, aortic, blood, taking, patients, fda, aneurysm, cause, used, damage, warns, pressure, risk


FDA warns some antibiotics can cause fatal heart damage

Certain antibiotics can cause painful and sometimes fatal damage to the body’s main artery, the Food and Drug Administration said Thursday.

Fluoroquinolone antibiotics might raise the risk of an aortic dissection, and people who are already at risk should be cautious about taking those antibiotics, the FDA said.

“A U.S. Food and Drug Administration (FDA) review found that fluoroquinolone antibiotics can increase the occurrence of rare but serious events of ruptures or tears in the main artery of the body, called the aorta. These tears, called aortic dissections, or ruptures of an aortic aneurysm can lead to dangerous bleeding or even death,” the FDA said in a statement.

“Fluoroquinolones should not be used in patients at increased risk unless there are no other treatment options available. People at increased risk include those with a history of blockages or aneurysms (abnormal bulges) of the aorta or other blood vessels, high blood pressure, certain genetic disorders that involve blood vessel changes, and the elderly.”

The FDA said the new risk guidance will be added to the labels and prescribing information of fluoroquinolone drugs. The agency has already warned that the powerful drugs should only be used when absolutely necessary because they can cause other side effects involving tendons, muscles, joints, nerves and the central nervous system.

“Health care professionals should avoid prescribing fluoroquinolone antibiotics to patients who have an aortic aneurysm or are at risk for an aortic aneurysm, such as patients with peripheral atherosclerotic vascular diseases, hypertension, certain genetic conditions such as Marfan syndrome and Ehlers-Danlos syndrome, and elderly patients. Prescribe fluoroquinolones to these patients only when no other treatment options are available,” the FDA said.

Patients should call 911 or get to an emergency room if they feel symptoms of an aortic dissection, which include sudden, severe, and constant pain in the stomach, chest or back, the FDA said.

People who have high blood pressure, who know they have an aneurysm — a thinning of the artery walls — or heart disease should tell their doctors before taking antibiotics.

High blood pressure is the main cause of aortic dissections, which involves the inner layer of the wall or the aorta tearing away from the middle wall.

Fluoroquinolones are very commonly used antibiotics. They include: ciprofloxacin, also known as Cipro; levofloxacin, or Levaquin; gemifloxacin, or Factive; and moxifloxacin, or Avelox.

They are widely prescribed to treat upper respiratory infections and urinary tract infections.

“Be aware that symptoms of an aortic aneurysm often do not show up until the aneurysm becomes large or bursts, so report any unusual side effects from taking fluoroquinolones to your health care professional immediately,” the FDA said.


Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: maggie fox, justin sullivan, getty images
Keywords: news, cnbc, companies, antibiotics, heart, fatal, aortic, blood, taking, patients, fda, aneurysm, cause, used, damage, warns, pressure, risk


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George HW Bush’s compromise on raising taxes defied conservatives – and altered American politics

Next, they reached agreement on amendments to the Clean Air Act that eventually tamed the pollution-driven threat of acid rain. More significant, they persisted through torturous negotiations toward a compromise to restrain swelling budget deficits. As they battled for the 1980 Republican presidential nomination, Bush accused Reagan of “voodoo economics” for insisting he could balance the budget while cutting taxes and boosting defense spending. Events proved Bush right, and Reagan handed his vi


Next, they reached agreement on amendments to the Clean Air Act that eventually tamed the pollution-driven threat of acid rain. More significant, they persisted through torturous negotiations toward a compromise to restrain swelling budget deficits. As they battled for the 1980 Republican presidential nomination, Bush accused Reagan of “voodoo economics” for insisting he could balance the budget while cutting taxes and boosting defense spending. Events proved Bush right, and Reagan handed his vi
George HW Bush’s compromise on raising taxes defied conservatives – and altered American politics Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: john harwood, shepard sherbell, corbis historical, getty images
Keywords: news, cnbc, companies, budget, emissions, politics, business, american, raising, george, defied, conservatives, bush, reagan, reached, hw, cause, taxes, deficits, spending, bushs, compromise


George HW Bush's compromise on raising taxes defied conservatives – and altered American politics

Bush defined how an elected official should be, says former senator 7:43 AM ET Mon, 3 Dec 2018 | 04:39

First, he reached agreement with lawmakers on the Americans with Disabilities Act to outlaw discrimination against the disabled in employment and public accommodations. Then, business lobbies such as the U.S. Chamber of Commerce and National Federation of Independent Business warned it would cause economic disaster; today they hail it as a landmark civil rights law.

Next, they reached agreement on amendments to the Clean Air Act that eventually tamed the pollution-driven threat of acid rain. It relied on the market-based approach of tradeable emissions credits – an innovative solution that Washington has since proven unable to emulate for the carbon emissions that cause global warming.

More significant, they persisted through torturous negotiations toward a compromise to restrain swelling budget deficits.

As they battled for the 1980 Republican presidential nomination, Bush accused Reagan of “voodoo economics” for insisting he could balance the budget while cutting taxes and boosting defense spending. Events proved Bush right, and Reagan handed his vice president a larger deficit than he inherited from Jimmy Carter.

The S&L cleanup made those deficits worse. The mid-1990 recession darkened the fiscal outlook further.

In his own 1988 campaign, Bush had pledged to resist any tax increases. That pleased his party’s ascendant, anti-government conservatives, who favored shrinking taxes and spending in tandem.

Yet keeping that pledge would have precluded action on deficits. Congressional Democrats, determined to protect government services and benefits their party created during the New Deal and Great Society, opposed relying exclusively on spending cuts.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: john harwood, shepard sherbell, corbis historical, getty images
Keywords: news, cnbc, companies, budget, emissions, politics, business, american, raising, george, defied, conservatives, bush, reagan, reached, hw, cause, taxes, deficits, spending, bushs, compromise


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The ‘Internet of Things’ will cause more security problems next year, exec warns

The “Internet of Things” has created all sorts of problems on the cybersecurity front — and the problem may get worse soon. The Internet of Things, commonly called IoT in tech circles, is the concept of conventional, physical objects being linked to the internet and communicating with each other — think, for instance, of automobiles or appliances that are linked to the internet. But just like computers that are connected to the internet, those networked devices can be hacked. “Next year, we will


The “Internet of Things” has created all sorts of problems on the cybersecurity front — and the problem may get worse soon. The Internet of Things, commonly called IoT in tech circles, is the concept of conventional, physical objects being linked to the internet and communicating with each other — think, for instance, of automobiles or appliances that are linked to the internet. But just like computers that are connected to the internet, those networked devices can be hacked. “Next year, we will
The ‘Internet of Things’ will cause more security problems next year, exec warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: kavita chandran, dave zhong, getty images entertainment, getty images
Keywords: news, cnbc, companies, warns, splunk, internet, sorts, problems, tech, worse, think, usbased, things, linked, cause, exec, security


The 'Internet of Things' will cause more security problems next year, exec warns

The “Internet of Things” has created all sorts of problems on the cybersecurity front — and the problem may get worse soon.

The Internet of Things, commonly called IoT in tech circles, is the concept of conventional, physical objects being linked to the internet and communicating with each other — think, for instance, of automobiles or appliances that are linked to the internet.

But just like computers that are connected to the internet, those networked devices can be hacked.

“Next year, we will definitely hear of even more IoT-related security challenges,” said Haiyan Song, general manager of Security Markets for U.S.-based Splunk, a software maker that helps clients analyze cyber-threats.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: kavita chandran, dave zhong, getty images entertainment, getty images
Keywords: news, cnbc, companies, warns, splunk, internet, sorts, problems, tech, worse, think, usbased, things, linked, cause, exec, security


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Trump cannot fire Fed Chairman Powell: Morgan Stanley

U.S. President Donald Trump may be unhappy with Federal Reserve Chairman Jerome Powell, but he has no authority to remove the central bank head from office, Morgan Stanley said. Trump renewed his criticisms of Powell earlier this week, blaming the Fed chair for the recent market sell-off and automaker General Motors’ plans to close plants and cut jobs. Powell became Fed chair in February this year after being nominated by Trump and confirmed by the Senate. U.S. law says Fed officials — and those


U.S. President Donald Trump may be unhappy with Federal Reserve Chairman Jerome Powell, but he has no authority to remove the central bank head from office, Morgan Stanley said. Trump renewed his criticisms of Powell earlier this week, blaming the Fed chair for the recent market sell-off and automaker General Motors’ plans to close plants and cut jobs. Powell became Fed chair in February this year after being nominated by Trump and confirmed by the Senate. U.S. law says Fed officials — and those
Trump cannot fire Fed Chairman Powell: Morgan Stanley Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: yen nee lee, carlos barria
Keywords: news, cnbc, companies, trump, president, powell, remove, office, stanley, chairman, post, chair, cause, removed, morgan, fed


Trump cannot fire Fed Chairman Powell: Morgan Stanley

U.S. President Donald Trump may be unhappy with Federal Reserve Chairman Jerome Powell, but he has no authority to remove the central bank head from office, Morgan Stanley said.

Trump renewed his criticisms of Powell earlier this week, blaming the Fed chair for the recent market sell-off and automaker General Motors’ plans to close plants and cut jobs. Powell became Fed chair in February this year after being nominated by Trump and confirmed by the Senate.

“The President can nominate a chair but once the chair is confirmed, the president is out of it and the only way you can remove a chair from office is literally if they broke the law. Congress will have to find a cause to remove them from office through a vote and a procedure,” Ellen Zentner, Morgan Stanley’s chief U.S. economist, told CNBC’s Sri Jegarajah on Thursday.

U.S. law says Fed officials — and those of other independent agencies — can be “removed for cause,” according to a report by The Washington Post on Wednesday. The “cause” often means more than a policy disagreement with the president, the Post added.

So far, no Fed chairman has been removed by a president, according to the Post.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: yen nee lee, carlos barria
Keywords: news, cnbc, companies, trump, president, powell, remove, office, stanley, chairman, post, chair, cause, removed, morgan, fed


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What will cause the next recession? Gary Shilling explains why it could be the Fed

Gary Shilling has made a career out of predicting bubbles. It’s not necessarily a major shock that could drive the U.S. into a recession immediately, he says; he’s concerned about emerging market debt. He also explains that when the Federal Reserve raises interest rates, historically, it usually damages the economy. It’s one of the reasons he’s short stocks right now. Watch the video above to hear more from Gary Shilling about predicting the next recession.


Gary Shilling has made a career out of predicting bubbles. It’s not necessarily a major shock that could drive the U.S. into a recession immediately, he says; he’s concerned about emerging market debt. He also explains that when the Federal Reserve raises interest rates, historically, it usually damages the economy. It’s one of the reasons he’s short stocks right now. Watch the video above to hear more from Gary Shilling about predicting the next recession.
What will cause the next recession? Gary Shilling explains why it could be the Fed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: jordan malter
Keywords: news, cnbc, companies, economy, predicting, cause, usually, shilling, big, short, recession, gary, explains, video, hes, fed


What will cause the next recession? Gary Shilling explains why it could be the Fed

Gary Shilling has made a career out of predicting bubbles. So what are the big risks he sees out in the global economy now?

It’s not necessarily a major shock that could drive the U.S. into a recession immediately, he says; he’s concerned about emerging market debt.

He also explains that when the Federal Reserve raises interest rates, historically, it usually damages the economy. It’s one of the reasons he’s short stocks right now.

He’s also short bitcoin, which he calls “some sort of a big Ponzi scheme.”

Watch the video above to hear more from Gary Shilling about predicting the next recession.


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: jordan malter
Keywords: news, cnbc, companies, economy, predicting, cause, usually, shilling, big, short, recession, gary, explains, video, hes, fed


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