The Fed didn’t need to cut rates in July, Kansas City Fed president says

Kansas City Federal Reserve President Esther George disagrees with the U.S. central bank’s move to cut interest rates last month, saying the economy is still strong. “My sense was we’ve added accommodation, and it wasn’t required in my view,” George told CNBC’s Steve Liesman in an interview that aired Thursday. The Fed cut interest rates by 25 basis points at its July meeting, citing “global developments ” and “muted inflation.” The central bank cut rates as China and the U.S. remain engaged in


Kansas City Federal Reserve President Esther George disagrees with the U.S. central bank’s move to cut interest rates last month, saying the economy is still strong. “My sense was we’ve added accommodation, and it wasn’t required in my view,” George told CNBC’s Steve Liesman in an interview that aired Thursday. The Fed cut interest rates by 25 basis points at its July meeting, citing “global developments ” and “muted inflation.” The central bank cut rates as China and the U.S. remain engaged in
The Fed didn’t need to cut rates in July, Kansas City Fed president says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: fred imbert
Keywords: news, cnbc, companies, trade, fed, george, rates, need, president, city, interview, didnt, look, war, cut, think, rate, kansas, united


The Fed didn't need to cut rates in July, Kansas City Fed president says

Kansas City Federal Reserve President Esther George disagrees with the U.S. central bank’s move to cut interest rates last month, saying the economy is still strong.

“My sense was we’ve added accommodation, and it wasn’t required in my view,” George told CNBC’s Steve Liesman in an interview that aired Thursday. “With this very low unemployment rate, with wages rising, with the inflation rate staying close to the Fed’s target, I think we’re in a good place relative to the mandates that we’re asked to achieve.”

Treasury yields ticked up after George’s comments aired.

The Fed cut interest rates by 25 basis points at its July meeting, citing “global developments ” and “muted inflation.” George, however, was one of two policymakers who voted to keep rates unchanged.

The central bank cut rates as China and the U.S. remain engaged in a trade war while economic activity outside of the United States slows. These dynamics have raised worries about the U.S. falling into a recession.

George said in the interview risks are now tilting to the downside. “As you look at global growth weakening and as you look at the amount of uncertainty associated with some of these trade issues, I think both of those are weighing on the outlook. Whether they spill over in a way that we see in the real economy is what I’m watching for.”

She added the U.S.-China trade war, which started last year, is impacting business investment in the United States.

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Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: fred imbert
Keywords: news, cnbc, companies, trade, fed, george, rates, need, president, city, interview, didnt, look, war, cut, think, rate, kansas, united


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China media says Hong Kong protesters are ‘asking for self-destruction’ as military assembles nearby

Anti-government protesters attend a demonstration at Hong Kong Airport, China August 13, 2019. Thomas Peter | ReutersChinese propaganda outlets warned on Tuesday that protesters in Hong Kong are “asking for self-destruction,” as they released a video showing military vehicles amassing near the border of the city. Hong Kong’s airport reopened Tuesday early morning after airport authorities canceled all flights on Monday, blaming demonstrators’ disruption to regular operations. Despite that reopen


Anti-government protesters attend a demonstration at Hong Kong Airport, China August 13, 2019. Thomas Peter | ReutersChinese propaganda outlets warned on Tuesday that protesters in Hong Kong are “asking for self-destruction,” as they released a video showing military vehicles amassing near the border of the city. Hong Kong’s airport reopened Tuesday early morning after airport authorities canceled all flights on Monday, blaming demonstrators’ disruption to regular operations. Despite that reopen
China media says Hong Kong protesters are ‘asking for self-destruction’ as military assembles nearby Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: grace shao
Keywords: news, cnbc, companies, chinese, media, assembles, protesters, peoples, asking, hong, china, airport, beijing, selfdestruction, military, kong, nearby, city


China media says Hong Kong protesters are 'asking for self-destruction' as military assembles nearby

Anti-government protesters attend a demonstration at Hong Kong Airport, China August 13, 2019. Thomas Peter | Reuters

Chinese propaganda outlets warned on Tuesday that protesters in Hong Kong are “asking for self-destruction,” as they released a video showing military vehicles amassing near the border of the city. Meanwhile, the city’s embattled leader, Carrie Lam, told the news media on Tuesday that “lawbreaking activities in the name of freedom” were damaging the rule of law and that the Asian financial hub’s recovery from anti-government protests could take a long time. Her comments came after Beijing said widespread anti-government protests in the semi-autonomous city showed “sprouts of terrorism,” and such violence must be severely punished, “without leniency, without mercy.” Hong Kong’s airport reopened Tuesday early morning after airport authorities canceled all flights on Monday, blaming demonstrators’ disruption to regular operations. Another sit-in is expected to take place at the airport, a major global hub, on Tuesday. Despite that reopening, Hong Kong flag carrier Cathay Pacific said it had cancelled over 200 flights to and out of the airport for the day, according to its website. The protest at the airport, while disruptive, was largely peaceful. That’s in contrast to Sunday night, where protesters appeared to have thrown Molotov cocktails at police stations around the city and dozens of protesters were arrested.

Beijing’s clear message

On Monday, Chinese officials focused on what they described as “deranged acts” by the protesters, including throwing gasoline bombs, saying they marked the emergence of terrorism in the Chinese city. “Radical Hong Kong protesters have repeatedly used extremely dangerous tools to attack police officers,” Yang Guang, a spokesman for the Chinese government’s Hong Kong and Macau Affairs Office, said in a news briefing on Monday, according to Chinese state broadcaster CCTV. China’s media is sending a clear signal to the protesters. On Monday afternoon, Chinese state-owned English tabloid the Global Times tweeted a video showing the People’s Armed Police assembling in Shenzhen, a city bordering Hong Kong, about a 1.5 hour- drive away. The People’s Daily, the official newspaper of China’s Communist Party, posted on Chinese social media a statement saying the People’s Armed Police are in Shenzhen prepared to handle “riots, disturbance, major violence and crime and terrorism-related social security issues.” In a Tuesday social media post from the Global Times‘ Chinese edition, the outlet said “if Hong Kong rioters cannot read the signal of having armed police gathering in Shenzhen, then they are asking for self-destruction,” according to a CNBC translation. China is “implying they might send in the People’s Liberation Army or issue direct intervention but they don’t want to,” according to Ben Bland, a director at Sydney-based policy think tank Lowy Institute. “(Beijing) hopes that the signals will scare protesters to back down,” but if and when Beijing decides to deploy troops they will not “advertise it,” he told CNBC. This is all part of a “delicate dance between China and Hong Kong” that’s reached a critical point because there is almost no common ground or overlapping interests between the protesters and Beijing, Bland added. Although China’s leaders do not want to deploy the PLA, they are “willing to do it if they have to,” the Asia politics expert said. Hong Kong’s former governor, Chris Patten, said on Tuesday that if China intervened in the city, it would be a “catastrophe” and that Chinese President Xi Jinping should see the wisdom of trying to bring people together. Patten called on British Prime Minister Boris Johnson to garner support from its allies to ensure Beijing does not intervene.

Protests continue


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: grace shao
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How this New Yorker saved to buy her first Brooklyn apartment at age 25

“I’m so in love with New York City,” Goldstein tells CNBC Make It. Goldstein’s piece of the city ended up being a one-bedroom co-op in Crown Heights, Brooklyn, which she bought at the end of 2013 for $280,000. “If it’s a nice apartment in your price range, probably 100 people or more will also see that apartment. Her advice to younger people currently in the market is to embrace living at home to save money if that’s an option. “But for people who do, even if you have loans, you can save a lot o


“I’m so in love with New York City,” Goldstein tells CNBC Make It. Goldstein’s piece of the city ended up being a one-bedroom co-op in Crown Heights, Brooklyn, which she bought at the end of 2013 for $280,000. “If it’s a nice apartment in your price range, probably 100 people or more will also see that apartment. Her advice to younger people currently in the market is to embrace living at home to save money if that’s an option. “But for people who do, even if you have loans, you can save a lot o
How this New Yorker saved to buy her first Brooklyn apartment at age 25 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: alicia adamczyk
Keywords: news, cnbc, companies, yorker, goldstein, save, apartment, city, price, lot, buy, age, heights, money, saved, onebedroom, shes, brooklyn, 25


How this New Yorker saved to buy her first Brooklyn apartment at age 25

This story is part of CNBC Make It’s new millennial home-buying series. If you’re interested in being featured, email reporter Alicia Adamczyk at alicia.adamczyk@nbcuni.com. New York City is it for Jackie Goldstein. The 31-year-old has lived in the city her entire life, save for her four-year stint at Emerson College in Boston, and she has no plans on leaving. “I’m so in love with New York City,” Goldstein tells CNBC Make It. “I knew I wanted to live here forever. I wanted to own a piece of the city.” The city’s high prices didn’t deter her. The median price for a one-bedroom co-op or condo in New York in the first quarter of 2019 was $800,000, according to a report by Douglas Elliman and Miller Samuel. But for buyers outside of Manhattan and certain parts of Brooklyn, there is less expensive inventory available. Goldstein’s piece of the city ended up being a one-bedroom co-op in Crown Heights, Brooklyn, which she bought at the end of 2013 for $280,000. She was just 25, four years out of college, and making around $30,000 a year as an editorial assistant for the Curbed Network. She was able to save as much as $2,000 per month, she says, because after graduating in December 2009, she moved back in with her father in the Manhattan apartment where she grew up. She enjoyed living with her father in the heart of the city and appreciated that it enabled her to save so much. Without a rent bill, student loans or other day-to-day living expenses to worry about, she began dreaming of a place of her own. Many of the friends she grew up with were also living back home, as they looked for jobs and tried to save in the midst of the recession. “I was very, very fortunate,” says Goldstein. “After a year or two of living with my dad, I realized how much I was saving. I mapped it out and found I could save for a down payment if I lived with him for another year and a half.” Living at home was, of course, central to her ability to stash away money for a down payment. But she says her parents instilled in her a saver’s mindset from an early age. “Our family just does not spend that much,” she says. “My parents were good at saving and were good at spending on the right things, and not spending in a willy-nilly way. I found myself in this very lucky position and took advantage of it,” she says. “I had very low expenses and no debt, so I had to make it happen.”

I feel a lot more secure knowing I have this asset, which is massive. Jackie Goldstein Homeowner

With a plan in mind, Goldstein began scouring real estate listings on sites like Zillow and StreetEasy. She had a general sense of the neighborhoods she could afford and went through a mortgage pre-approval process that gave her budget cap of $300,000. At first, her heart was set on the Prospect Heights neighborhood of Brooklyn, but that proved to be too expensive: The median sale price for one-bedroom condos and co-ops in Prospect Heights at the end of 2013 was $410,000, according to data provided by Zillow, well out of her price range. She eventually shifted her focus to nearby Brooklyn neighborhoods like Park Slope and Crown Heights. After missing out on two apartments, one of which was scooped up with an all-cash offer, she offered over-asking price for a one-bedroom in Crown Heights, which was accepted. The neighborhood had a lot to offer: Plenty of restaurants, cultural attractions like the Brooklyn Museum and Prospect Park within walking distance, and many of her friends lived there, too. It turned out to be a perfect fit. “I was very gung-ho on the apartment,” she says, which was well within her price range. And “the neighborhood keeps getting more interesting.” Goldstein offers these three additional tips for first-time home buyers.

Find professional help

Goldstein says a few key professionals helped her navigate the market and make the most of her homebuying experience. She worked with a real estate agent to help her find a place, and then hired a lawyer, who was recommended by the agent, to handle any issues that came up throughout the buying process. Because she was so young, Goldstein says, it made sense for her to hire people who knew what they were doing. “My lawyer walked me through everything and explained everything I was signing and what it meant,” says Goldstein.

Her mortgage broker, too, was a helpful resource. At the beginning of 2015, the broker contacted her to let her know that interest rates were lower than when she bought the apartment. Goldstein was able to refinance, and her bill dropped from $1,185 to $1,020 per month. Goldstein also routinely sees a financial advisor, who has helped her plan for the future. After her mortgage payments decreased, Goldstein says she decided to keep paying the higher amount each month to pay her debt off faster. But her financial advisor cautioned against that given the low interest rate, advice that she’s thankful for now. “She said I’d be better off saving that money, I don’t really need to give the bank extra money right now,” says Goldstein. “So I went back to paying the normal amount.”

Consider the long-term investment

Goldstein says she liked the idea of buying something that could become income generating if she needed it to. And now that she’s moving in with her boyfriend, she’s embracing potentially becoming a landlord. “I feel a lot more secure knowing I have this asset, which is massive,” she says. “I paid $280,000 for the apartment, and I could probably sell it now for $480,000 or $500,000. It’s appreciated a lot, which is incredible.” In fact, in the six years she’s lived in Crown Heights, the median cost of a one-bedroom has increased from $319,000 in 2013 to $680,500 today, an increase of 113.3%, according to data provided by Zillow. Goldstein has also continued to be a careful saver. Her salary has increased over the course of her career — she’s now vice president of commerce at the New York Post — but she still saves as much as she can each month. She doesn’t yet have a plan for that money, but says she likes the security of knowing it’s there, and the options it gives her. One thing she’s considering: Buying a bigger place with her boyfriend. Goldstein is excited and anxious to experience the buying process at such a radically different point in her life than when she first bought six years ago.

If you can make it work for you and budget it, real estate is such a good investment. Jackie Goldstein Homeowner

“I was so young and had nothing going on, but now I’m older and thinking about more serious things,” she says. “It’s interesting to think about buying from a completely different life stage.” Regardless of where you are in your life, make sure you set a realistic budget so that you have enough money leftover for other expenses. Goldstein enjoys collecting art and taking in all of the cultural events the city has to offer. She wouldn’t be able to invest in and enjoy those hobbies now if she bought an apartment she couldn’t truly afford six years ago. “If you can make it work for you and budget it, real estate is such a good investment,” she says.

Don’t let an expensive market dissuade you

For young buyers in cities like New York, patience is key. Goldstein searched for apartments for seven months before she made her first offer. And she missed out on two apartments before the deal went through for her one-bedroom in Crown Heights. “If it’s a nice apartment in your price range, probably 100 people or more will also see that apartment. Be patient,” she says. “You might not get the first apartment.” And make sure to account for expenses beyond the down payment, like closing costs, repairs and new furnishings. “I think I was a little bit naive in general,” she says. “I didn’t really think of the other costs, like moving, and I had literally no furniture because I was coming from my dad’s apartment.” She paid her lawyer a flat fee of $1,900 for her services, and in addition to her monthly mortgage, she pays $600 to $700 per month in maintenance costs to the co-op. Goldstein admits she was lucky with the timing of her apartment purchase. Her advice to younger people currently in the market is to embrace living at home to save money if that’s an option. “I understand I’m in a unique boat, and a lot of people don’t have the opportunity to live at home,” she says. “But for people who do, even if you have loans, you can save a lot of money and do smart things with it.” Don’t miss: How a 25-year-old used $40,000 in down-payment assistance to buy her first house in Atlanta Like this story? Subscribe to CNBC Make It on YouTube!


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: alicia adamczyk
Keywords: news, cnbc, companies, yorker, goldstein, save, apartment, city, price, lot, buy, age, heights, money, saved, onebedroom, shes, brooklyn, 25


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Hong Kong airport returns to calm, after riot police clashed with protesters earlier

Riot police disperse anti-extradition bill protesters during a mass demonstration after a woman was shot in the eye, at the Hong Kong international airport, in Hong Kong China August 13, 2019. Thomas Peter | ReutersThe Hong Kong airport returned to calm as most protesters left the airport early Wednesday morning. At the airport, protesters discussed among themselves whether they should simply block all access to the facility. On Tuesday, President Donald Trump tweeted that U.S. intelligence info


Riot police disperse anti-extradition bill protesters during a mass demonstration after a woman was shot in the eye, at the Hong Kong international airport, in Hong Kong China August 13, 2019. Thomas Peter | ReutersThe Hong Kong airport returned to calm as most protesters left the airport early Wednesday morning. At the airport, protesters discussed among themselves whether they should simply block all access to the facility. On Tuesday, President Donald Trump tweeted that U.S. intelligence info
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Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: matt clinch
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Hong Kong airport returns to calm, after riot police clashed with protesters earlier

Riot police disperse anti-extradition bill protesters during a mass demonstration after a woman was shot in the eye, at the Hong Kong international airport, in Hong Kong China August 13, 2019. Thomas Peter | Reuters

The Hong Kong airport returned to calm as most protesters left the airport early Wednesday morning. Earlier, riot police clashed with pro-democracy protesters late Tuesday night, moving into the terminal where the demonstrators had shut down operations at the busy transport hub for two straight days. The Tuesday night demonstrations involved officers armed with pepper spray and batons confronting the protesters who used luggage carts to barricade entrances to the airport terminal. Police took several people into a police van waiting at the entrance to the airport’s arrivals hall. Police said they tried to help ambulance officers reach an injured man whom protesters had detained on suspicion of being an undercover agent. Protesters also detained a second man who they suspected of being an undercover agent. After emptying out his belongings, they found a blue T-shirt that has been worn by pro-Beijing supporters that they said was evidence he was a spy.

Earlier in the day, authorities were forced to cancel all remaining flights as the city’s pro-Beijing leader warned that the protesters had pushed events onto a “path of no return.” After a brief period when flights were able to take off and land, the airport authority suspended check-in services for departing flights as of 4:30 p.m. Departing flights that had completed the process were able to continue to operate. It said it did not expect arriving flights to be affected, although dozens were already canceled. The authority advised people not to come to the airport, one of the world’s busiest. More than 200 flights were canceled Monday and the airport was effectively shut down with no flights taking off or landing. Passengers have been forced to stay in the city while airlines tried to find other ways to get them to their destinations. For Grace Bendal, a 43-year-old contractor from the Philippines, Tuesday was the second straight day she came to the airport only to learn flights were canceled. She spent the weekend in Hong Kong with her primary school-age children, who were eager to return to classes. She said they have already missed two days of school and the extra day in the city has cost her around 3,000 Hong Kong dollars ($400). Though there were no airline employees at check-in counters Tuesday evening, Bendal said she and her children planned to stay at the airport all night. “I cannot blame them, because they are fighting for something,” Bendal said of the protesters. “But then it’s not right if we are the ones suffering.” The airport disruptions are an escalation of a summer of demonstrations aimed at what many Hong Kong residents see as an increasing erosion of the freedoms they were promised in 1997 when Communist Party-ruled mainland China took over what had been a British colony. The protests have built on an opposition movement that shut down much of the city for seven weeks in 2014 before it eventually fizzled and its leaders were jailed on public disturbance charges. The central government in Beijing has ominously characterized the current protest movement as something approaching “terrorism” that poses an “existential threat” to citizens. While Beijing tends to define terrorism broadly, extending it especially to nonviolent movements opposing government policies in minority regions such as Tibet and Xinjiang, its use of the term in relation to Hong Kong raised the prospect of greater violence and the possible suspension of legal rights for those detained.

Hong Kong leader Carrie Lam said the instability, chaos and violence have placed the city on a “path of no return.” The black-clad demonstrators have shown no sign of letting up on their campaign to force Lam’s administration to respond to their demands, including that she step down and scrap proposed legislation under which some suspects could be sent to mainland China, where critics say they could face torture and unfair or politically charged trials. Lam has rejected all calls for dialogue, part of what analysts say is a strategy to wear down the opposition movement through police action while prompting demonstrators to take more violent and extreme actions that will turn the Hong Kong public against them. At the airport, protesters discussed among themselves whether they should simply block all access to the facility. Meanwhile, paramilitary police were assembling across the border in the city of Shenzhen for exercises that some saw as a threat to increase force against the mostly young protesters who have turned out by the thousands in the past 10 weeks. On Tuesday, President Donald Trump tweeted that U.S. intelligence informed him that Chinese troops were being moved to the Hong Kong border.

Anti-government protesters try to prevent a passenger from breaching a barricade in front of departure gates, during a demonstration at Hong Kong Airport, China August 13, 2019. Thomas Peter | Reuters


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: matt clinch
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Trump visits Dayton, Ohio after mass shooting that shocked country

Demonstrators protest the visit of US President Donald Trump to the site of the mass shooting in Dayton, Ohio, on August 7, 2019. The El Paso massacre is being investigated as a hate crime and the FBI said the Dayton shooter had explored violent ideologies. It admonished Trump for calling El Paso one of the country’s most dangerous cities in his February State of the Union address. “The violence that pierced El Paso, drawing you here today, is not of our own community,” wrote editor Tim Archulet


Demonstrators protest the visit of US President Donald Trump to the site of the mass shooting in Dayton, Ohio, on August 7, 2019. The El Paso massacre is being investigated as a hate crime and the FBI said the Dayton shooter had explored violent ideologies. It admonished Trump for calling El Paso one of the country’s most dangerous cities in his February State of the Union address. “The violence that pierced El Paso, drawing you here today, is not of our own community,” wrote editor Tim Archulet
Trump visits Dayton, Ohio after mass shooting that shocked country Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: kevin breuninger
Keywords: news, cnbc, companies, el, white, protesters, visits, country, texas, paso, city, dayton, shocked, mass, ohio, gun, trump, shooting


Trump visits Dayton, Ohio after mass shooting that shocked country

Demonstrators protest the visit of US President Donald Trump to the site of the mass shooting in Dayton, Ohio, on August 7, 2019.

U.S. President Donald Trump on Wednesday visited the Ohio city that suffered one of last weekend’s two deadly mass shootings that shocked the country, even as critics and protesters accused him of inflaming tensions with anti-immigrant and racially charged rhetoric.

Trump visited survivors, first responders and staff at Miami Valley Hospital in Dayton, Ohio, where nine people and the suspect were killed in a rampage early on Sunday.

Dozens of protesters outside the hospital set up a “baby Trump” blimp balloon and held signs reading “Do Something,” “Save our city,” and “You are why.”

Later in the day, Trump will visit the Texas city of El Paso, on the border with Mexico, where 22 people were killed at a Walmart store on Saturday by a 21-year-old man who had posted an anti-immigrant manifesto online.

The back-to-back massacres, occurring 13 hours apart, have reopened the national debate over gun safety and led protesters in Dayton to heckle Ohio’s Republican governor, Mike DeWine, at a vigil for the shooting victims with chants of “Do something!”

As he left the White House, Trump said he wanted to strengthen background checks for gun purchases and make sure mentally ill people did not carry guns. He predicted congressional support for those two measures but not for banning assault rifles.

“I can tell you that there is no political appetite for that at this moment,” Trump told reporters at the White House. “But I will certainly bring that up … There is a great appetite, and I mean a very strong appetite, for background checks.”

In Dayton, Trump was greeted at the airport by a bipartisan group of state and local officials, including Democratic Dayton Mayor Nan Whaley, who had said she would welcome Trump but planned to tell him he had been “unhelpful” on the issue of gun violence.

Critics have said Trump stokes violence with racially incendiary rhetoric. The El Paso massacre is being investigated as a hate crime and the FBI said the Dayton shooter had explored violent ideologies.

On Monday, Trump gave a speech focusing on mental health reforms, tighter internet regulation and wider use of the death penalty. Democrats accuse Trump of hiding behind talk of mental illness and the influence of social media rather than committing to laws they insist are needed to restrict gun ownership and the types of weapons that are legal.

In Iowa, Democratic presidential front-runner Joe Biden planned to say in a campaign speech, “We have a president with a toxic tongue who has publicly and unapologetically embraced a political strategy of hate, racism, and division.”

In a sign of higher tensions after the shootings, a motorcycle backfiring on Tuesday night in New York’s Times Square sent crowds running for fear of another gun attack.

“People are obviously very frightened,” New York Governor Andrew Cuomo told CNN.

Authorities in Texas have said they are investigating Saturday’s shooting spree in the predominantly Hispanic west Texas border city of El Paso as a hate crime and an act of domestic terrorism. They cited a racist manifesto posted online shortly before the shooting, which they attributed to the suspect.

An open letter to Trump on Wednesday in the El Paso Times described the border city as having “a deep tradition of racial harmony” whose people came together after the tragedy. It admonished Trump for calling El Paso one of the country’s most dangerous cities in his February State of the Union address.

“The violence that pierced El Paso, drawing you here today, is not of our own community,” wrote editor Tim Archuleta. “An outsider came here to shatter our city, to murder our neighbors. A white man from another Texas city came to target the more than 80% of us who share Hispanic roots.”


Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: kevin breuninger
Keywords: news, cnbc, companies, el, white, protesters, visits, country, texas, paso, city, dayton, shocked, mass, ohio, gun, trump, shooting


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Three small blasts hit Bangkok as city hosts major security meeting

Three small explosions, one possibly a homemade bomb, injured three people in Bangkok on Friday, as the Thai capital hosted a Southeast Asian security meeting with top diplomats from the United States, China and other world powers. The first explosions were heard just before 9 a.m. (0200 GMT) at two sites near central Bangkok. A third blast was heard shortly afterwards at a government complex hosting several ministries on the northern side of the city. Bangkok is currently hosting a regional sec


Three small explosions, one possibly a homemade bomb, injured three people in Bangkok on Friday, as the Thai capital hosted a Southeast Asian security meeting with top diplomats from the United States, China and other world powers. The first explosions were heard just before 9 a.m. (0200 GMT) at two sites near central Bangkok. A third blast was heard shortly afterwards at a government complex hosting several ministries on the northern side of the city. Bangkok is currently hosting a regional sec
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Company: cnbc, Activity: cnbc, Date: 2019-08-02
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Three small blasts hit Bangkok as city hosts major security meeting

Three small explosions, one possibly a homemade bomb, injured three people in Bangkok on Friday, as the Thai capital hosted a Southeast Asian security meeting with top diplomats from the United States, China and other world powers.

The first explosions were heard just before 9 a.m. (0200 GMT) at two sites near central Bangkok. A third blast was heard shortly afterwards at a government complex hosting several ministries on the northern side of the city.

Police said two street cleaners had been hurt by what appeared to be a homemade bomb in the Suan Luang district.

Local news websites showed pictures of them — one sitting on the ground with medics and the other being taken into an ambulance. Neither appeared to have major wounds.

Eyewitnesses said a security guard had also been hurt close to the 77-story King Power Mahanakhon building. The area was partly cordoned off as police searched the area.

Government spokesman Narumon Pinyosinwat said Prime Minister Prayuth Chan-ocha had ordered an investigation.

“The situation is being closely monitored and security measures have been tightened. The public is urged not to panic,” he said.

Bangkok is currently hosting a regional security meeting of foreign ministers from the Association of Southeast Asian Nations (ASEAN) and their counterparts from world powers including the United States, China and Russia.

None of the blasts on Friday were in the immediate area of the meeting venue.

On Thursday, Thai police said they had found two fake bombs near the venue of the regional security meeting. The packages prompted a brief security scare but were quickly deemed harmless. It was unclear whether the meeting was the target.

Police said two men had been arrested in connection with the fake bombs.

China’s top diplomat Wang Yi and U.S. Secretary of State Mike Pompeo are attending the forum along with other regional and global officials.


Company: cnbc, Activity: cnbc, Date: 2019-08-02
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Burglary at Rep. Elijah Cummings’s Baltimore home reported hours before controversial Trump tweet

Police said the burglary was reported at 3:40 a.m. at Cummings’ house. Democrats, including House Speaker Nancy Pelosi of California, called Trump’s tweets “racist” and “dangerous.” A number of Republicans, while not directly criticizing Trump, said his tweets about Cummings were not a good idea. But Trump double downed Sunday, when he tweeted that “Elijah Cummings has done a very poor job for his district and the City of Baltimore. ” In fact, Cummings does not run Baltimore, he represents resid


Police said the burglary was reported at 3:40 a.m. at Cummings’ house. Democrats, including House Speaker Nancy Pelosi of California, called Trump’s tweets “racist” and “dangerous.” A number of Republicans, while not directly criticizing Trump, said his tweets about Cummings were not a good idea. But Trump double downed Sunday, when he tweeted that “Elijah Cummings has done a very poor job for his district and the City of Baltimore. ” In fact, Cummings does not run Baltimore, he represents resid
Burglary at Rep. Elijah Cummings’s Baltimore home reported hours before controversial Trump tweet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: dan mangan jim forkin, dan mangan, jim forkin
Keywords: news, cnbc, companies, baltimore, reported, controversial, hours, city, residents, run, trump, rep, cummings, cummingss, trumps, tweets, elijah, burglary, house


Burglary at Rep. Elijah Cummings's Baltimore home reported hours before controversial Trump tweet

U.S. Rep. Elijah E. Cummings (D-Md.) during a news conference to introduce H.R.1, the ‘For the People Act,’ on the U.S. Capitol on Friday, January 4, 2019, in Washington, D.C.

Baltimore police are investigating a reported burglary at the home of Rep. Elijah Cummings early last Saturday morning, which occurred hours before President Donald Trump blasted the Maryland Democrat on Twitter for representing a “disgusting, rat and rodent infested mess” of a district.

Police said the burglary was reported at 3:40 a.m. at Cummings’ house.

“At this time, it is unknown if any property was taken from the location,” a police spokesman said.

Cummings’ office did not immediately respond to a request for comment.

Trump drew a firestorm of criticism later Saturday morning after he posted several tweets blasting Cummings, who as chairman of the House Oversight and Reform Committee is conducting investigations into the Trump administration.

Cummings had drawn Trump’s ire for, among other things, challenging acting head of Homeland Security Kevin McAleenan during a hearing on conditions at the southern border and children who have been separated from their parents.

Democrats, including House Speaker Nancy Pelosi of California, called Trump’s tweets “racist” and “dangerous.” A number of Republicans, while not directly criticizing Trump, said his tweets about Cummings were not a good idea.

But Trump double downed Sunday, when he tweeted that “Elijah Cummings has done a very poor job for his district and the City of Baltimore. ”

He called Cummings, who is black, a “racist,” later that same day.

On Tuesday, Trump said that living in Baltimore is “like living in hell.”

Baltimore had the third-highest number of incidents of violent crime per 100,000 residents in 2017, with 2,027, according to FBI statistics.

Trump on Thursday continued his attacks on Cummings.

Speaking to reporters on the south lawn of the White House as news of the break-in began spreading online, Trump said that the responsibility for Baltimore’s conditions lies with “people who’ve run Baltimore, headed up by Cummings.”

In fact, Cummings does not run Baltimore, he represents residents of the city in Congress. Baltimore’s chief executive is its mayor, Bernard Young.

“We’ve given billions to Baltimore they appreciate it,” the president said. “It’s the No. 1 city in U.S. for crime … it’s worse than Honduras.”

“Cummings hasn’t helped the people,” Trump said.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: dan mangan jim forkin, dan mangan, jim forkin
Keywords: news, cnbc, companies, baltimore, reported, controversial, hours, city, residents, run, trump, rep, cummings, cummingss, trumps, tweets, elijah, burglary, house


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Violence is escalating in Hong Kong. Here are three possible outcomes

Riot police fire tear gas, after a march to call for democratic reforms in Hong Kong Edgar Su | ReutersBeijing is set to deliver a formal response to the ongoing Hong Kong protests at 3 p.m. local time on Monday. Such a move would “break a lot of beliefs that Hong Kong is autonomous,” he explained, adding that “investors would probably flee initially.” Wong echoed Bland’s assessment, saying “the situation in Hong Kong is not good. But it’s not to an extent that we need the PLA in Hong Kong.” But


Riot police fire tear gas, after a march to call for democratic reforms in Hong Kong Edgar Su | ReutersBeijing is set to deliver a formal response to the ongoing Hong Kong protests at 3 p.m. local time on Monday. Such a move would “break a lot of beliefs that Hong Kong is autonomous,” he explained, adding that “investors would probably flee initially.” Wong echoed Bland’s assessment, saying “the situation in Hong Kong is not good. But it’s not to an extent that we need the PLA in Hong Kong.” But
Violence is escalating in Hong Kong. Here are three possible outcomes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-29  Authors: grace shao
Keywords: news, cnbc, companies, beijing, mainland, authorities, possible, kong, violence, riot, city, outcomes, bland, protesters, hong, king, escalating


Violence is escalating in Hong Kong. Here are three possible outcomes

Riot police fire tear gas, after a march to call for democratic reforms in Hong Kong Edgar Su | Reuters

Beijing is set to deliver a formal response to the ongoing Hong Kong protests at 3 p.m. local time on Monday. Demonstrations started eight weeks ago in the city against a legislative push to allow people in Hong Kong to be extradited to Mainland China, but they’ve snowballed into a movement for full democracy and autonomy from Beijing. Over the weekend, protesters again took to the streets, clashing with authorities. A march on Saturday against an assault the previous weekend by suspected triad gang members ended in violent turmoil as riot police waded in to disperse crowds. On Sunday, riot police fired rounds of tear gas and rubber bullets as demonstrators marched toward the Chinese government’s office in the city. As tensions escalate, China watchers are waiting to see how Beijing will respond. According to Ben Bland, director of the Southeast Asia Project at Sydney-based think tank the Lowy institute, there are three possible scenarios how the demonstrations could pan out from here. Three directions Hong Kong could head from here: Authorities wait out protesters Beijing intervenes directly, imposes martial law Authorities make meaningful concessions The most likely outcome, said Bland, is that Beijing and Hong Kong will try to wait out the protests, arrest rally leaders after the momentum slows down and “slowly bring the city back to order.” It’s unlikely, but possible, that Mainland authorities would directly intervene, Bland said, explaining that Beijing could exercise martial law but that would be the end of the “one country, two systems” principle. That concept was promised to Hong Kong when the former British colony was reunited with the mainland, and guarantees that the city maintains a separate economic and legal system. If Beijing were to send the People’s Liberation Army out into Hong Kong’s streets to “stabilize the situation” (which it suggested last week it could do) that would have “a big negative impact” on markets, according to Jackson Wong, asset manager director at Amber Hill Capital. Such a move would “break a lot of beliefs that Hong Kong is autonomous,” he explained, adding that “investors would probably flee initially.” Wong echoed Bland’s assessment, saying “the situation in Hong Kong is not good. But it’s not to an extent that we need the PLA in Hong Kong.”

On the other end of possibilities, Chinese authorities could give “real concessions” and allow Hong Kongers full democracy — the right to an unrestricted vote for their own parliament and leader — which is what many protesters demand, Bland said. A day after protesters stormed the legislative building, demonstration leaders released a statement making five demands: a full withdrawal of the proposed extradition bill; a retraction of the characterization of the movement as a “riot,” a retraction of the charges against anti-extradition protesters, the establishment of an independent committee to investigate the Hong Kong Police Force’s use of force, and the implementation of universal suffrage for the city’s chief executive officer role and its legislature by 2020. Some experts have pointed out that there has not been a singular protest leader with whom authorities could negotiate, but Bland said that isn’t the issue. At the end of the day, he explained, the Mainland Chinese government has not shown interest in negotiating a resolution. “There is no sign yet from Beijing or the Hong Kong government that they are willing to make any meaningful concessions beyond the suspension of the extradition bill which started this,” said Bland. Sean King, senior vice president of public policy and business development strategy firm Park Strategies offered similar analysis to Bland. Citing the mass killing of pro-democracy student protesters at Tiananmen Square 30 years ago, King said, “Beijing will have no moral qualms about” bringing in the military to intervene. But such an act “would totally lose the Hong Kong populace once and for all,” said King. He said he expects the protests to continue on for weeks or even months before any settlement might be reached. As for why Hong Kong Chief Executive Officer Carrie Lam has yet to step down, King said if she resigns then it would symbolize Beijing admitting defeat. “That would be giving into the masses,” said King. He added that, if mainland authorities give Hong Kongers what they demand, which is full fledged democracy, then it’s conceivable that citizens of Beijing, Shanghai and other mainland cities will ask for the same.

Signals from Beijing


Company: cnbc, Activity: cnbc, Date: 2019-07-29  Authors: grace shao
Keywords: news, cnbc, companies, beijing, mainland, authorities, possible, kong, violence, riot, city, outcomes, bland, protesters, hong, king, escalating


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Trump’s Bronx golf course lost $122,000 last year and blamed New York City

Eric Trump, third from left, and Donald Trump Jr., second from right, talk with guests at the opening of the Trump Golf Links clubhouse, Monday, June 11, 2018, in the Bronx, New York. Trump Ferry Point, the Bronx golf course operated by President Donald Trump’s company, lost more than $122,000 in the past year, a financial statement shows. The clubhouse’s projected revenue of about $543,000, if included, would have given the golf course a net income gain of $421,000, according to the financial s


Eric Trump, third from left, and Donald Trump Jr., second from right, talk with guests at the opening of the Trump Golf Links clubhouse, Monday, June 11, 2018, in the Bronx, New York. Trump Ferry Point, the Bronx golf course operated by President Donald Trump’s company, lost more than $122,000 in the past year, a financial statement shows. The clubhouse’s projected revenue of about $543,000, if included, would have given the golf course a net income gain of $421,000, according to the financial s
Trump’s Bronx golf course lost $122,000 last year and blamed New York City Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: kevin breuninger
Keywords: news, cnbc, companies, opening, 122000, blamed, golf, bronx, trumps, city, statement, reported, post, trump, lost, financial, york, clubhouse, course


Trump's Bronx golf course lost $122,000 last year and blamed New York City

Eric Trump, third from left, and Donald Trump Jr., second from right, talk with guests at the opening of the Trump Golf Links clubhouse, Monday, June 11, 2018, in the Bronx, New York.

Trump Ferry Point, the Bronx golf course operated by President Donald Trump’s company, lost more than $122,000 in the past year, a financial statement shows.

The income statement covering April 2018 to March 2019 was first reported by The Washington Post and later obtained by CNBC.

The Post reported that the golf course, which opened in April 2015, posted its first-ever operating loss this year, despite a gilded contract in which New York City agreed to cover its irrigation bills and its first four years of rent.

The company’s explanation for the loss in spite of the sweetheart deal: a faulty gas pipe installed by the city that delayed a construction project.

The report’s expenses “were incurred in anticipation of the June 2018 opening of the new Clubhouse,” a note in the financial statement says. “Since the Clubhouse opening was delayed until 2019 due to the inadequate gas pipe installed by the City, Licensee was not afforded the opportunity to derive the projected Clubhouse revenue during this period.”

“Therefore, these expenses should not be counted against the 2018-2019 fiscal year’s net income,” it says.

The clubhouse’s projected revenue of about $543,000, if included, would have given the golf course a net income gain of $421,000, according to the financial statement.

New York City Parks Department spokeswoman Crystal Howard, who provided the financial statement to CNBC, said in a response: “We are aware of their claim and do not believe the City is responsible.”

The Post reported that in previous years, Trump Ferry Point had posted profits of about $500,000 per year. But the course, which is located in progressive Democratic Rep. Alexandria Ocasio-Cortez’s district, has seen a dwindling number of rounds played every year since its opening, according to the newspaper.


Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: kevin breuninger
Keywords: news, cnbc, companies, opening, 122000, blamed, golf, bronx, trumps, city, statement, reported, post, trump, lost, financial, york, clubhouse, course


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Why Facebook immortalized an illegal crosswalk with nine gray stripes at its headquarters

But to those who know, especially early Facebook employees, these stripes serve as a monument to the company’s original spirit of “move fast and break things.” The company operated out of 156 and 154 University Ave., but Facebook’s cafeteria sat a block away at 164 Hamilton Ave. The following day, there was suddenly a crosswalk connecting the alleyway and the Facebook cafeteria. A screenshot of a photo uploaded to the “Facebook Archivist” Facebook group of a crosswalk painted in Palo Alto in 200


But to those who know, especially early Facebook employees, these stripes serve as a monument to the company’s original spirit of “move fast and break things.” The company operated out of 156 and 154 University Ave., but Facebook’s cafeteria sat a block away at 164 Hamilton Ave. The following day, there was suddenly a crosswalk connecting the alleyway and the Facebook cafeteria. A screenshot of a photo uploaded to the “Facebook Archivist” Facebook group of a crosswalk painted in Palo Alto in 200
Why Facebook immortalized an illegal crosswalk with nine gray stripes at its headquarters Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: salvador rodriguez
Keywords: news, cnbc, companies, city, gray, palo, illegal, employees, immortalized, stripes, cafeteria, wasnt, facebook, crosswalk, facebooks, painted, headquarters


Why Facebook immortalized an illegal crosswalk with nine gray stripes at its headquarters

In the middle of Facebook’s Menlo Park campus there’s an open courtyard with the word “Hack” written in enormous letters. This area is known as Hacker Square. Above “Hack” are nine large, thick, gray stripes. To the naked eye, the stripes are inconspicuous. But to those who know, especially early Facebook employees, these stripes serve as a monument to the company’s original spirit of “move fast and break things.” They’re a memorial to events that transpired in the summer of 2007.

A view of Hacker Square on Facebook’s headquarters in Menlo Park, California. Facebook

At the time, Facebook was still a small company with no more than 300 people, and its headquarters was a trio of buildings in downtown Palo Alto, according to three former Facebook employees who spoke with CNBC. The company operated out of 156 and 154 University Ave., but Facebook’s cafeteria sat a block away at 164 Hamilton Ave. The two buildings are separated by a three-minute walk, but Facebook employees could shorten the distance by cutting through a tiny alleyway perpendicular to Hamilton Avenue that was directly across the street from the cafeteria. To cross, employees had to walk to either end of the block or risk a jaywalking ticket because there was no crosswalk connecting the alleyway and the cafeteria. At least there wasn’t one until Facebook held an overnight hackathon during the summer of 2007. During these hackathons, Facebook employees would bring to life the ideas they’d kept in the back of their minds but hadn’t yet had a chance to execute. Usually the nights resulted in new software features for the company’s website, but the aftermath of this particular hackathon was more tangible. The following day, there was suddenly a crosswalk connecting the alleyway and the Facebook cafeteria. For the most part, the hack went unnoticed — the crosswalk was so convincing, people actually started using it. The white stripes had been spray painted in measurement drawn to city specifications.

A screenshot of a photo uploaded to the “Facebook Archivist” Facebook group of a crosswalk painted in Palo Alto in 2007 near the company’s headquarters at the time. Provided to CNBC

It wasn’t until that afternoon that the authorities finally noticed. A Palo Alto police officer riding on a bicycle stopped, took his helmet off and put it under his arm and stared at the crosswalk. Finally he slapped his forehead, realizing the crosswalk didn’t belong there, according to one former Facebook employee who witnessed the event. The officer questioned Facebook staffers about the crosswalk, asking them if they knew who had painted it. It wasn’t until this moment that most of the company began to realize what had been done. People laughed, but it wasn’t cool, another former employee told CNBC. The crosswalk was disrespectful to the city of Palo Alto, and Facebook did not want to disrespect the local government since it needed to be on good terms with the city, that employee said. Over the next few days, the city erased the crosswalk by sandblasting and paving over it, leaving a darker shade of black on the road where the white stripes had been, the former Facebook employees said. The city may have removed the crosswalk from its road, but former Facebook employees still talk about it. “‘Somebody’ painted a cross walk in the middle of Hamilton Ave. so it’d be easier to get to lunch in Building 164. Classic,” wrote a member of the “Facebook Archivist” Facebook group, where former employees post about their memories and experiences working at the social network.

A screenshot of Hacker Square on Facebook’s Menlo Park campus as seen from satellite view of Google Maps.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: salvador rodriguez
Keywords: news, cnbc, companies, city, gray, palo, illegal, employees, immortalized, stripes, cafeteria, wasnt, facebook, crosswalk, facebooks, painted, headquarters


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