Big Tech is in a ‘serious monopoly moment,’ says House antitrust subcommittee chairman

The House Judiciary investigation into Big Tech aims to look into how to prevent Silicon Valley giants from thwarting competition, David Cicilline, chairman of the antitrust subcommittee, told CNBC on Wednesday. Big tech companies nowadays are facing increasing scrutiny as politicians, both Democrats and Republicans, are beginning to look into their practices and potential hold on the markets. Many of the tech companies have been generally quiet as regulators saber rattle. “I can tell you they d


The House Judiciary investigation into Big Tech aims to look into how to prevent Silicon Valley giants from thwarting competition, David Cicilline, chairman of the antitrust subcommittee, told CNBC on Wednesday. Big tech companies nowadays are facing increasing scrutiny as politicians, both Democrats and Republicans, are beginning to look into their practices and potential hold on the markets. Many of the tech companies have been generally quiet as regulators saber rattle. “I can tell you they d
Big Tech is in a ‘serious monopoly moment,’ says House antitrust subcommittee chairman Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, antitrust, big, companies, tech, working, google, serious, monopoly, subcommittee, facebook, democrats, chairman, investigation, house, markets, moment


Big Tech is in a 'serious monopoly moment,' says House antitrust subcommittee chairman

The House Judiciary investigation into Big Tech aims to look into how to prevent Silicon Valley giants from thwarting competition, David Cicilline, chairman of the antitrust subcommittee, told CNBC on Wednesday.

“These are huge monopolies and we want to make sure we’re doing everything we can to make markets work,” the Rhode Island Democrat said on “Squawk Box.” “These are markets that are not working properly. We’re in this very serious monopoly moment.”

The House antitrust subcommittee held a hearing Tuesday on anti-competitive practices in technology, looking at ways that companies such as Facebook and Alphabet’s Google have changed the news media landscape. “This is the first significant antitrust investigation undertaken by Congress in decades,” Cicilline said at Tuesday’s hearing.

Cicilline and Republican Rep. Doug Collins from Georgia co-sponsored legislation that would allow local news organizations to negotiate with internet platforms.

There’s a “number of big challenges” that are harming consumers, Cicilline said Wednesday on CNBC, including “serious breaches of privacy” and “loss of control of data.”

Facebook has been working to regain user trust after last year’s Cambridge Analytica data misuse scandal, which hit on the heels of the disclosure that Russian operatives used the social network to try to influence the 2016 presidential election.

Referring to Facebook and Google, an Alphabet analyst at CFRA Research, told CNBC earlier Wednesday, “Both of those companies, directly impact the outcomes of elections and things politicians take very personally.” CFRA’s John Freeman said that’s the difference between today’s tech outcry and Microsoft’s clash with the government over its internet browser in the 1990s and early 2000s.

Big tech companies nowadays are facing increasing scrutiny as politicians, both Democrats and Republicans, are beginning to look into their practices and potential hold on the markets. Federal investigations are reportedly underway or being considered by the Justice Department and the Federal Trade Commission.

Meanwhile, state attorneys general on Wednesday plan to meet with FTC officials in Omaha, Nebraska, to talk about consumer protection issues and competition matters as they consider probes. Many of the tech companies have been generally quiet as regulators saber rattle.

Cicilline said his panel’s investigation is not looking into single companies, but it wants to “make sure we’re understanding how markets are working to develop solutions.”

On the Republican side, House Minority Leader Kevin McCarthy said Wednesday on “Squawk Box” that Democrats are trying to “create another utility company” rather than focus on privacy and innovation.

In a CNBC interview Monday, President Donald Trump accused Facebook and Google of colluding with Democrats against him. “I can tell you they discriminate against me,” he added, reiterating a view among conservatives that tech companies are biased against Republicans.

Many of the candidates seeking the Democratic presidential nomination in 2020, including Sens. Bernie Sanders and Elizabeth Warren, are pushing for breaking up major tech companies.

WATCH: House GOP Leader Kevin McCarthy on Big Tech


Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, antitrust, big, companies, tech, working, google, serious, monopoly, subcommittee, facebook, democrats, chairman, investigation, house, markets, moment


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Executive chairman of Saks-owner Hudson’s Bay Co. puts in bid to take retailer private

A pedestrian passes in front of the Saks Fifth Avenue Inc. women’s store at Brookfield Place in New York, U.S.Richard Baker, executive chairman of Saks-owner Hudson’s Bay, is leading a bid to take the retailer private, the company announced Monday. Shares of Hudson’s Bay have fallen nearly 13% year to date, according to Factset. Hudson’s Bay Co. had agreed to sell half its European business, including Galeria Kaufhof, to the Austrian owner of its rival, Karstadt Warenhaus, last year. Though Huds


A pedestrian passes in front of the Saks Fifth Avenue Inc. women’s store at Brookfield Place in New York, U.S.Richard Baker, executive chairman of Saks-owner Hudson’s Bay, is leading a bid to take the retailer private, the company announced Monday. Shares of Hudson’s Bay have fallen nearly 13% year to date, according to Factset. Hudson’s Bay Co. had agreed to sell half its European business, including Galeria Kaufhof, to the Austrian owner of its rival, Karstadt Warenhaus, last year. Though Huds
Executive chairman of Saks-owner Hudson’s Bay Co. puts in bid to take retailer private Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: lauren hirsch
Keywords: news, cnbc, companies, bid, wework, private, retailer, chairman, puts, capital, company, hudsons, executive, taylor, rhone, saksowner, baker, bay


Executive chairman of Saks-owner Hudson's Bay Co. puts in bid to take retailer private

A pedestrian passes in front of the Saks Fifth Avenue Inc. women’s store at Brookfield Place in New York, U.S.

Richard Baker, executive chairman of Saks-owner Hudson’s Bay, is leading a bid to take the retailer private, the company announced Monday.

A group of shareholders who collectively own 57% of the company — Baker, Rhone Capital, WeWork Property Advisors, Hanover Investments (Luxembourg) and Abrams Capital Management — submitted a proposal to take Hudson’s Bay private at 9.45 Canadian dollars ($7.12) per share.

The all-cash offer values the company at a 48% premium to where the stock closed Friday. It is not contingent on financing.

Shares of Hudson’s Bay have fallen nearly 13% year to date, according to Factset.

“While we continue to believe in HBC’s long-term potential, it has become clear that the significant challenges, risks and uncertainties facing HBC in the rapidly evolving retail environment are best addressed in a private market setting,” Baker said in a statement.

CNBC previously reported that Baker was trying to raise equity to fund taking the company private, even as its peers like Toys R Us were succumbing to the weight of debt leftover from leveraged buyouts.

In the past two years, Hudson’s Bay has taken a number of steps to unwind the empire put together by Baker through deals, which have left the company leveraged, limiting its ability to adapt.

Hudson’s Bay struck a deal in 2017 sell its flagship Lord & Taylor building in New York to WeWork Property Advisors and Rhone Capital, and later left the property entirely. HBC disclosed last month that it is exploring options for what is left of its Lord & Taylor stores.

The retailer announced Monday morning that it sold the remaining half of its interest in its European businesses for $1.5 billion and will use those funds to support Baker’s bid. Hudson’s Bay Co. had agreed to sell half its European business, including Galeria Kaufhof, to the Austrian owner of its rival, Karstadt Warenhaus, last year.

Though Hudson’s Bay is a public company, Baker has long held tight control over it. He ran NRDC Equity Partners, the private equity firm that bought Hudson’s Bay and took it public. He remains a principal shareholder.

Recent deals, though, have given up some control. As part of the Lord & Taylor deal with WeWork, Hudson’s Bay sold a minority stake of preferred stock to Rhone Capital for $500 million, a move activist shareholder Jonathan Litt deemed dilutive.

The proposed deal is subject to approval from the “majority of the minority” of shareholders.

“Given our familiarity with the Company, we are confident that we will be able to negotiate and complete a transaction quickly,” wrote Baker to David Leith, chairman of company’s special committee in charge of reviewing the deal.

Baker’s efforts come on the heels of the Nordstrom family’s move to lead a management buyout of the namesake retailer. A group of Nordstrom family members, which owns 31.2% of Nordstrom, called off efforts to buy the company last year after the board’s special committee rejected their bid as too low.


Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: lauren hirsch
Keywords: news, cnbc, companies, bid, wework, private, retailer, chairman, puts, capital, company, hudsons, executive, taylor, rhone, saksowner, baker, bay


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StanChart chairman: It’s grown more likely that the world will split in two

U.S. and Chinese flags seen at the US Department of State May 23, 2018 in Washington, DC. As tensions between the U.S. and China rise, it’s become increasingly likely that the world will split in two, warned the chairman of a major British bank on Friday. Such an event, if it materializes, will be “detrimental to the world,” said Jose Vinals, group chairman at Standard Chartered Bank. “I hope it’s not (going to happen) but this is something which is a more likely prospect now than it used to be


U.S. and Chinese flags seen at the US Department of State May 23, 2018 in Washington, DC. As tensions between the U.S. and China rise, it’s become increasingly likely that the world will split in two, warned the chairman of a major British bank on Friday. Such an event, if it materializes, will be “detrimental to the world,” said Jose Vinals, group chairman at Standard Chartered Bank. “I hope it’s not (going to happen) but this is something which is a more likely prospect now than it used to be
StanChart chairman: It’s grown more likely that the world will split in two Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: yen nee lee
Keywords: news, cnbc, companies, world, split, likely, materializes, chairman, globalized, stanchart, state, half, detrimental, think, vinals, grown


StanChart chairman: It's grown more likely that the world will split in two

U.S. and Chinese flags seen at the US Department of State May 23, 2018 in Washington, DC.

As tensions between the U.S. and China rise, it’s become increasingly likely that the world will split in two, warned the chairman of a major British bank on Friday.

Such an event, if it materializes, will be “detrimental to the world,” said Jose Vinals, group chairman at Standard Chartered Bank. His comments came as rivalry between the world’s two largest economies extend into areas beyond trade such as technology and global influence.

“Something that I think will be detrimental to the world is if we were to move from the present state … to a sort of bifurcation of globalization,” Vinals told CNBC’s Nancy Hungerford at the Institute of International Finance’s spring meeting in Japan.

He explained that some countries and companies may start “doing more business and operating in the half of the world which is globalized along the western line,” while the other half may work “in the part which is globalized along the eastern line.”

“I hope it’s not (going to happen) but this is something which is a more likely prospect now than it used to be a few years ago. And I think it’s a very adverse reality if it eventually materializes,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: yen nee lee
Keywords: news, cnbc, companies, world, split, likely, materializes, chairman, globalized, stanchart, state, half, detrimental, think, vinals, grown


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There’s now a 60% chance of a hard Brexit, says chairman of UK investment firm

There’s now a major chance of Britain leaving the European Union in a way that keeps the two sides significantly separated, the chairman of a major U.K. investment firm said on Thursday. Her replacement — who will become the next prime minister — will likely be someone stridently in favor of the U.K. leaving the EU, Gilbert said. The chairman said there’s now a 60% probably of a hard Brexit happening, compared to around 25% chance before May’s resignation. Unless they can negotiate something on


There’s now a major chance of Britain leaving the European Union in a way that keeps the two sides significantly separated, the chairman of a major U.K. investment firm said on Thursday. Her replacement — who will become the next prime minister — will likely be someone stridently in favor of the U.K. leaving the EU, Gilbert said. The chairman said there’s now a 60% probably of a hard Brexit happening, compared to around 25% chance before May’s resignation. Unless they can negotiate something on
There’s now a 60% chance of a hard Brexit, says chairman of UK investment firm Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: yen nee lee
Keywords: news, cnbc, companies, european, investment, brexit, firm, 60, hard, theres, chance, chairman, mays, major, deal, gilbert, eu, uk


There's now a 60% chance of a hard Brexit, says chairman of UK investment firm

There’s now a major chance of Britain leaving the European Union in a way that keeps the two sides significantly separated, the chairman of a major U.K. investment firm said on Thursday.

That, according to Martin Gilbert, chairman of Aberdeen Standard Investments, is due to several recent developments including the impending departure of British Prime Minister Theresa May. May announced last month she will step down as leader of the Conservative Party on Friday. Her replacement — who will become the next prime minister — will likely be someone stridently in favor of the U.K. leaving the EU, Gilbert said.

Adding a more fragmented European Parliament into the picture, it looks like the next British leader may not have much room to renegotiate a deal, said Gilbert. The chairman said there’s now a 60% probably of a hard Brexit happening, compared to around 25% chance before May’s resignation.

“I don’t think they’ve any option now after the European results. Unless they can negotiate something on the Irish backstop, I think there’s now a significant chance of a hard Brexit, ” Gilbert told CNBC’s Nancy Hungerford at the Institute of International Finance’s spring meeting in Japan.

The Irish backstop is an agreement to essentially ensure there will be no hard border between Northern Ireland and the Republic of Ireland after Brexit, regardless of how future trade talks between the U.K. and the EU turn out. It’s a major reason why British lawmakers rejected May’s deal, with pro-Brexit supporters arguing that the backstop would tie the U.K. indefinitely to many EU laws.

The EU had said several times that it will not renegotiate the Brexit deal it struck with May’s team. Gilbert suggested that’s even more unlikely now after main centrist parties lost seats in last month’s European elections.


Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: yen nee lee
Keywords: news, cnbc, companies, european, investment, brexit, firm, 60, hard, theres, chance, chairman, mays, major, deal, gilbert, eu, uk


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Jack Ma explains how entrepreneurs should deal with rejection

Jack Ma, chairman of Alibaba Group Holding Ltd., speaking during a fireside interview at the Viva Technology conference in Paris, on May 16, 2019. When it comes to building a business from scratch, every entrepreneur is bound to face some form of rejection along the way. Having to get used to being said ‘no’ to by the other people, by the investors, by your customers, by people,” said Jack Ma, executive chairman of Alibaba Group on Thursday. Yet, rejection should be treated as an opportunity, Ma


Jack Ma, chairman of Alibaba Group Holding Ltd., speaking during a fireside interview at the Viva Technology conference in Paris, on May 16, 2019. When it comes to building a business from scratch, every entrepreneur is bound to face some form of rejection along the way. Having to get used to being said ‘no’ to by the other people, by the investors, by your customers, by people,” said Jack Ma, executive chairman of Alibaba Group on Thursday. Yet, rejection should be treated as an opportunity, Ma
Jack Ma explains how entrepreneurs should deal with rejection Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: alexandra gibbs
Keywords: news, cnbc, companies, group, prove, alibaba, ma, used, rejection, technology, deal, viva, chairman, successful, jack, explains, entrepreneurs


Jack Ma explains how entrepreneurs should deal with rejection

Jack Ma, chairman of Alibaba Group Holding Ltd., speaking during a fireside interview at the Viva Technology conference in Paris, on May 16, 2019.

When it comes to building a business from scratch, every entrepreneur is bound to face some form of rejection along the way. And if they want to keep pushing forward, they’re going to have to get accustomed to receiving these negative responses, says the lead founder of Chinese e-commerce behemoth, Alibaba. “As an entrepreneur, you have got to get used to being challenged. Having to get used to being said ‘no’ to by the other people, by the investors, by your customers, by people,” said Jack Ma, executive chairman of Alibaba Group on Thursday. Yet, rejection should be treated as an opportunity, Ma said, as if everybody initially agrees with your vision or service, then “there is no opportunity.” “When everybody believes (in) it, you have no chance. When only few people believe it, you believe it, you prove it — that’s your chance.”

Jack Ma, chairman of Alibaba Group (L), speaks during a fireside interview with Maurice Levy, chairman of Publicis Group (R), at the Viva Technology conference in Paris, on May 16, 2019. Marlene Awaad/Bloomberg | Bloomberg | Getty Images

During a fireside chat with Publicis Chairman Maurice Levy at the Viva Technology conference in Paris, the business magnate explained how when he and the other founders started Alibaba in 1999, they had “almost nothing.” “I talked to the 18 founders, (and) one of the things we wanted to prove: If Jack Ma and his team can be successful, 80% of people in the world can be successful, because we don’t have money, we don’t have technology, we have almost nothing.” “The only thing is that we believe in future, and we started to do little by little,” Ma said, adding that he believes that anyone can be successful, if they “really try hard.” “So, people like us, we are getting used to being criticized. We are getting used to being said ‘no’, people saying ‘no’ to you. When people say ‘yes’ to you, we really appreciate it. (I mean,) why should people say ‘yes’ to you? You have to prove (yourself),” said Ma, adding that the main two groups that you should focus on convincing is your own business team and your customers. Of course, Ma is no stranger to setback. Over the years, the tycoon has talked openly about his encounters with rejection, whether that’s failing to secure any of the 30 jobs he applied for after college, including one at KFC, or being turned down by Harvard 10 times.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: alexandra gibbs
Keywords: news, cnbc, companies, group, prove, alibaba, ma, used, rejection, technology, deal, viva, chairman, successful, jack, explains, entrepreneurs


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Warren Buffett says stocks look like ‘intelligent investments’ compared to bonds today

Berkshire Hathaway Chairman and CEO Warren Buffett said Monday a broad portfolio of U.S. stocks is a better investment than government bonds. “I would much rather own many common stocks than bonds,” Buffett told CNBC’s Becky Quick on “Squawk Box. ” “Stocks actually, in many cases, look like perfectly intelligent investments,” Buffett added. Microsoft co-founder Bill Gates, in a later interview alongside Buffett and Munger, said he thinks 2019 opened with “a big first quarter for U.S. Buffett’s c


Berkshire Hathaway Chairman and CEO Warren Buffett said Monday a broad portfolio of U.S. stocks is a better investment than government bonds. “I would much rather own many common stocks than bonds,” Buffett told CNBC’s Becky Quick on “Squawk Box. ” “Stocks actually, in many cases, look like perfectly intelligent investments,” Buffett added. Microsoft co-founder Bill Gates, in a later interview alongside Buffett and Munger, said he thinks 2019 opened with “a big first quarter for U.S. Buffett’s c
Warren Buffett says stocks look like ‘intelligent investments’ compared to bonds today Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: michael sheetz
Keywords: news, cnbc, companies, intelligent, warren, compared, munger, gates, look, bonds, lot, buffett, competition, buying, chairman, today, stocks, investments, companies


Warren Buffett says stocks look like 'intelligent investments' compared to bonds today

Berkshire Hathaway Chairman and CEO Warren Buffett said Monday a broad portfolio of U.S. stocks is a better investment than government bonds.

“I would much rather own many common stocks than bonds,” Buffett told CNBC’s Becky Quick on “Squawk Box. ” “We’d much rather own the business of America than get a 3% for 30 years from the government.”

“Stocks actually, in many cases, look like perfectly intelligent investments,” Buffett added.

Microsoft co-founder Bill Gates, in a later interview alongside Buffett and Munger, said he thinks 2019 opened with “a big first quarter for U.S. equities.”

“We still, if you look forward, are at these very high valuation levels and so it’s hard to see that the market will be gaining a lot over the next few years,” Gates said. “I think people should have fairly modest expectations for what their portfolios will make in the years in front of us.”

Buffett’s comments come after he and Berkshire Vice Chairman Charlie Munger discussed why the conglomerate has $110 billion in cash on hand. While it may appear that Buffett and Munger are waiting for better timing, with U.S. stocks climbing to record highs in recent weeks, the investors say their slowing acquisition pace is in part due to Berkshire’s competition for buying companies. Munger said that competition is “part of the reason” for Berkshire’s pile of dry powder.

“There’s probably more competition for buying companies by people who are using other people’s money, and therefore, have less sensitivity to price and who are willing to borrow a whole lot more and are being offered the ability to borrow a whole lot more,” Buffett said.


Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: michael sheetz
Keywords: news, cnbc, companies, intelligent, warren, compared, munger, gates, look, bonds, lot, buffett, competition, buying, chairman, today, stocks, investments, companies


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House Judiciary Chairman Jerrold Nadler threatens to hold Attorney General William Barr in contempt over Mueller report

Photographers take a picture of a chicken placed on the empty seat for US Attorney General Bill Barr in the House Judiciary Committee room on Capitol Hill in Washington, DC, on May 2, 2019. House Judiciary Chairman Jerrold Nadler on Thursday threatened to hold Attorney General William Barr in contempt of Congress if the Justice Department does not provide access to the unredacted version of special counsel Robert Mueller’s Russia report. And yes, we will have no choice but to move quickly to hol


Photographers take a picture of a chicken placed on the empty seat for US Attorney General Bill Barr in the House Judiciary Committee room on Capitol Hill in Washington, DC, on May 2, 2019. House Judiciary Chairman Jerrold Nadler on Thursday threatened to hold Attorney General William Barr in contempt of Congress if the Justice Department does not provide access to the unredacted version of special counsel Robert Mueller’s Russia report. And yes, we will have no choice but to move quickly to hol
House Judiciary Chairman Jerrold Nadler threatens to hold Attorney General William Barr in contempt over Mueller report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: kevin breuninger
Keywords: news, cnbc, companies, special, committee, hearing, attorney, house, nadler, report, hold, general, chairman, william, mueller, threatens, barr, jerrold, trump, judiciary


House Judiciary Chairman Jerrold Nadler threatens to hold Attorney General William Barr in contempt over Mueller report

Photographers take a picture of a chicken placed on the empty seat for US Attorney General Bill Barr in the House Judiciary Committee room on Capitol Hill in Washington, DC, on May 2, 2019.

House Judiciary Chairman Jerrold Nadler on Thursday threatened to hold Attorney General William Barr in contempt of Congress if the Justice Department does not provide access to the unredacted version of special counsel Robert Mueller’s Russia report.

“Yes, we will continue to negotiate for access to the full report. And yes, we will have no choice but to move quickly to hold the attorney general in contempt if he stalls or fails to negotiate in good faith,” Nadler said during a committee hearing Thursday morning that Barr had declined to attend.

Nadler’s speech sounded off on Barr, who oversaw the final weeks of Mueller’s 22-month probe of Russia election interference, possible collusion between Russia and the Trump campaign, and possible obstruction of justice by President Donald Trump himself.

“He has failed to check the president’s worst instincts. He has not only misrepresented the findings of the special counsel, he has failed to protect the special counsel’s investigation from unfair political attacks. He has himself unfairly attacked the special counsel’s investigation,” Nadler, D-N.Y., said of Barr. “He has even failed to show up today.”

After the hearing, Nadler said the committee majority will make “one more good-faith attempt” to get the full Mueller report from Barr.

A Justice Department spokeswoman said Nadler’s format for the hearing, which would have carved out time for the committee’s staff attorneys to question Barr, was “unprecedented and unnecessary.”

The committee’s ranking Republican, Rep. Doug Collins, R-Ga., fired back at Nadler during the hearing. “Ludicrous demands from the chairman made it impossible for the attorney general to join us here today,” Collins said, according to a copy of his prepared remarks.

Collins accused Nadler of attempting to litigate impeachment proceedings against Trump without actually making the commitment.

“The chairman can’t have it both ways,” Collins said. “He can’t try to pacify his liberal base by pretending to do impeachment without actually taking the plunge. The reality of our chamber and this distinguished committee is that when it comes to impeachment, you’re either in, Mr. Chairman, or you’re out, and, right now, you’re out.”

Barr has come under heavy fire from Democrats for his handling of the 448-page Mueller report. Some have argued that his initial four-page summary of the top-line conclusions of the report was meant to frame Trump in the best possible light. Their criticisms intensified this week, when news outlets revealed that Mueller himself had written a letter to Barr complaining that the summary distorted the “substance” of the report and caused “public confusion” about its results.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: kevin breuninger
Keywords: news, cnbc, companies, special, committee, hearing, attorney, house, nadler, report, hold, general, chairman, william, mueller, threatens, barr, jerrold, trump, judiciary


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Disney Studios Chairman Alan Horn hosting fundraiser for Nancy Pelosi and House Democrats

Speaker of the House Nancy Pelosi (D-CA) speaks during the introduction of the Climate Action Now Act on Capitol Hill in Washington, D.C., March 27, 2019. Walt Disney Studios Chairman Alan Horn is hosting a fundraiser at his Los Angeles mansion for House Majority Leader Nancy Pelosi and the Democratic Congressional Campaign Committee, CNBC has learned. In an email to CNBC, Horn confirmed details of the event that he and his wife, Cindy, are holding for Pelosi. Horn has been a longtime backer of


Speaker of the House Nancy Pelosi (D-CA) speaks during the introduction of the Climate Action Now Act on Capitol Hill in Washington, D.C., March 27, 2019. Walt Disney Studios Chairman Alan Horn is hosting a fundraiser at his Los Angeles mansion for House Majority Leader Nancy Pelosi and the Democratic Congressional Campaign Committee, CNBC has learned. In an email to CNBC, Horn confirmed details of the event that he and his wife, Cindy, are holding for Pelosi. Horn has been a longtime backer of
Disney Studios Chairman Alan Horn hosting fundraiser for Nancy Pelosi and House Democrats Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: brian schwartz
Keywords: news, cnbc, companies, congressional, rep, event, horn, president, studios, nancy, hosting, fundraiser, house, pelosi, democrats, dccc, committee, seats, chairman, dca, disney


Disney Studios Chairman Alan Horn hosting fundraiser for Nancy Pelosi and House Democrats

Speaker of the House Nancy Pelosi (D-CA) speaks during the introduction of the Climate Action Now Act on Capitol Hill in Washington, D.C., March 27, 2019.

Walt Disney Studios Chairman Alan Horn is hosting a fundraiser at his Los Angeles mansion for House Majority Leader Nancy Pelosi and the Democratic Congressional Campaign Committee, CNBC has learned.

In an email to CNBC, Horn confirmed details of the event that he and his wife, Cindy, are holding for Pelosi.

“We are in fact hosting an event for Nancy and the DCCC at our home on May 30,” he said on Tuesday.

There are at least 12 other House Democrats attending the event, including House Intel Committee chairman Rep. Adam Schiff, D-CA, DCCC Chairwoman Rep. Cheri Bustos, D-IL, Rep. Gil Cisneros, D-CA, Rep. Abby Finkenauer, D-IA, Rep. Katie Hill, D-CA, Rep. Nita Lowey, D-NY, Rep.Richard Neal, D-MA, Rep. Harley Rouda, D-CA, and Rep. Lauren Underwood, D-IL, according to a senior Democratic congressional aide with direct knowledge of the matter.

Horn has been a longtime backer of the DCCC, the official campaign arm for Democrats running for seats in the U.S. House of Representatives. He donated just over $95,000 to the committee during the 2018 congressional midterm elections, according to Federal Election Commission records. During former President Barack Obama’s second term in office, Horn hosted at least one DCCC fundraising event with the then-commander in chief as the featured guest.

He was also a supporter of Hillary Clinton when she ran for the White House in 2016, helping her raise at least $100,000 and contributing $50,000 directly to her joint fundraising committee, the Hillary Victory Fund, according to the nonpartisan Center for Responsive Politics.

Horn referred questions about how much each ticket will cost and names of other attendees to his political consultant who declined to respond to follow up requests for comment. Tickets for a prior fundraiser with Obama as the marquee guest ranged from $15,000 to $66,800 per couple.

A spokesman for the DCCC said that the event was closed to the press while a representative for Pelosi’s office did not return an email seeking comment.

A strong year of fundraising before the next congressional election in 2020 will likely prove crucial for House Democrats if they want to successfully defend their majority.

In 2018, the party flipped at least 40 seats and pulled off enough victories to retake control of the House.

The nonpartisan Cook Political Report, however, shows that in 2020, 31 Democrats are up for re-election are in districts carried by President Donald Trump when he first ran for president three years ago. It marks 17 Democrat-held seats as toss-ups, which includes districts in New York, Iowa, Virginia and South Carolina.


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: brian schwartz
Keywords: news, cnbc, companies, congressional, rep, event, horn, president, studios, nancy, hosting, fundraiser, house, pelosi, democrats, dccc, committee, seats, chairman, dca, disney


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House Judiciary Chairman Nadler says Attorney General Barr must testify Thursday

U.S. Attorney General William Barr testifies before a Senate Appropriations Subcommittee hearing on the proposed budget estimates for the Department of Justice in Washington, U.S. April 10, 2019. U.S. House Judiciary Committee Chairman Jerrold Nadler said on Monday that Attorney General William Barr must testify before his panel on Thursday, despite Barr’s reported objections to the format for questions that Democrats intend to use. It’s none of the business of a witness to try to dictate to a c


U.S. Attorney General William Barr testifies before a Senate Appropriations Subcommittee hearing on the proposed budget estimates for the Department of Justice in Washington, U.S. April 10, 2019. U.S. House Judiciary Committee Chairman Jerrold Nadler said on Monday that Attorney General William Barr must testify before his panel on Thursday, despite Barr’s reported objections to the format for questions that Democrats intend to use. It’s none of the business of a witness to try to dictate to a c
House Judiciary Chairman Nadler says Attorney General Barr must testify Thursday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30
Keywords: news, cnbc, companies, nadler, william, attorney, lawmakers, judiciary, hearing, committee, barr, justice, chairman, questioning, general, testify, department, house


House Judiciary Chairman Nadler says Attorney General Barr must testify Thursday

U.S. Attorney General William Barr testifies before a Senate Appropriations Subcommittee hearing on the proposed budget estimates for the Department of Justice in Washington, U.S. April 10, 2019.

U.S. House Judiciary Committee Chairman Jerrold Nadler said on Monday that Attorney General William Barr must testify before his panel on Thursday, despite Barr’s reported objections to the format for questions that Democrats intend to use.

“We’ve been very clear. Barr has to come. He has to testify. It’s none of the business of a witness to try to dictate to a congressional committee what our procedures for questioning him are,” Nadler told reporters.

“He is supposed to show up on Thursday and we will take whatever action we have to take if he doesn’t,” he added.

Justice Department officials had no immediate comment on the lawmaker’s remarks.

A Democratic congressional aide on Sunday said that Barr could skip the upcoming hearing because he objects to plans for an extra hour of questioning by lawmakers and committee attorneys and a closed session to discuss classified segments of U.S. Special Counsel Robert Mueller’s Russia investigation report.

Nadler has subpoenaed the unredacted Mueller report and the Justice Department faces a deadline that expires on Wednesday at 10 a.m. ET to provide the full document.


Company: cnbc, Activity: cnbc, Date: 2019-04-30
Keywords: news, cnbc, companies, nadler, william, attorney, lawmakers, judiciary, hearing, committee, barr, justice, chairman, questioning, general, testify, department, house


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Former CEO Eric Schmidt and former Google Cloud leader Diane Greene will leave Alphabet board

Alphabet announced Tuesday that Eric Schmidt will not seek re-election to the board seat he has held since 2004. Schmidt first joined Google as CEO in 2001, back when the company only had several hundred employees, and became its executive chairman 10 years later, handing the CEO role over to co-founder Larry Page. “Eric has made an extraordinary contribution to Google and Alphabet as CEO, Chairman, and Board member. Former Google Cloud chief Diane Greene, who has served on the board since 2012,


Alphabet announced Tuesday that Eric Schmidt will not seek re-election to the board seat he has held since 2004. Schmidt first joined Google as CEO in 2001, back when the company only had several hundred employees, and became its executive chairman 10 years later, handing the CEO role over to co-founder Larry Page. “Eric has made an extraordinary contribution to Google and Alphabet as CEO, Chairman, and Board member. Former Google Cloud chief Diane Greene, who has served on the board since 2012,
Former CEO Eric Schmidt and former Google Cloud leader Diane Greene will leave Alphabet board Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: kate fazzini
Keywords: news, cnbc, companies, leader, board, cloud, company, washington, leave, diane, reelection, schmidt, ceo, eric, seek, role, google, alphabet, greene, chairman


Former CEO Eric Schmidt and former Google Cloud leader Diane Greene will leave Alphabet board

Alphabet announced Tuesday that Eric Schmidt will not seek re-election to the board seat he has held since 2004.

Schmidt first joined Google as CEO in 2001, back when the company only had several hundred employees, and became its executive chairman 10 years later, handing the CEO role over to co-founder Larry Page. He kept that chairmanship when Google restructured to become Alphabet in 2015, then announced he was stepping down from that role but staying on the board in December 2017.

“Eric has made an extraordinary contribution to Google and Alphabet as CEO, Chairman, and Board member. We are extremely grateful for his guidance and leadership over many years,” said John Hennessy, chairman of Alphabet’s board, in a statement.

Former Google Cloud chief Diane Greene, who has served on the board since 2012, will also not seek re-election. Former Oracle exec Thomas Kurian replaced Greene as head of its cloud business earlier this year.

Both of their terms will end in June.

The company has also added a new board member, Robin L. Washington, who joined on Apr. 25 and will be part of the Leadership and Compensation Committee. Washington is currently the CFO of biopharmaceutical company Gilead Sciences. Alphabet has been making an increased push into health tech, hiring David Feinberg to lead a new Google Health division last November.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: kate fazzini
Keywords: news, cnbc, companies, leader, board, cloud, company, washington, leave, diane, reelection, schmidt, ceo, eric, seek, role, google, alphabet, greene, chairman


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