Trump accuses China of ‘currency manipulation’ as yuan drops to lowest level in more than a decade

President Donald Trump accused China on Monday of manipulating its currency as the trade war between the world’s largest economies keeps escalating. “China dropped the price of their currency to an almost a historic low,” Trump said in a tweet. China — which has historically controlled its currency — allowed the yuan to fall to its lowest level in more than a decade. Trump’s comments on Monday came less than three months after his administration decided not to label China a currency manipulator.


President Donald Trump accused China on Monday of manipulating its currency as the trade war between the world’s largest economies keeps escalating. “China dropped the price of their currency to an almost a historic low,” Trump said in a tweet. China — which has historically controlled its currency — allowed the yuan to fall to its lowest level in more than a decade. Trump’s comments on Monday came less than three months after his administration decided not to label China a currency manipulator.
Trump accuses China of ‘currency manipulation’ as yuan drops to lowest level in more than a decade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: fred imbert
Keywords: news, cnbc, companies, exchange, manipulation, decade, drops, competitive, china, level, currency, rate, manipulator, administration, trump, yuan, accuses, trade, lowest


Trump accuses China of 'currency manipulation' as yuan drops to lowest level in more than a decade

President Donald Trump accused China on Monday of manipulating its currency as the trade war between the world’s largest economies keeps escalating.

“China dropped the price of their currency to an almost a historic low,” Trump said in a tweet. “It’s called ‘currency manipulation.’ Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!”

China — which has historically controlled its currency — allowed the yuan to fall to its lowest level in more than a decade. The yuan traded above 7 per U.S. dollar, making Chinese products cheaper.

The People’s Bank of China denied devaluing the yuan as a counter to U.S. tariffs. In a statement, PBOC Governor Yi Gang said China will “not engage in competitive devaluation, and not use the exchange rate for competitive purposes and not use the exchange rate as a tool to deal with external disturbances such as trade disputes.”

Trump’s comments on Monday came less than three months after his administration decided not to label China a currency manipulator. No country has been named a manipulator since the Clinton administration did so for China in 1994.

Though Trump vowed to brand China a manipulator during his campaign, his administration has passed on five opportunities to do so.


Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: fred imbert
Keywords: news, cnbc, companies, exchange, manipulation, decade, drops, competitive, china, level, currency, rate, manipulator, administration, trump, yuan, accuses, trade, lowest


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Streamers such as Netflix have a lot to gain from competitive reality shows

A reality competition show about glassblowing was probably not going to be your go-to weekend binge. “Blown Away” is not only a visually appealing look at how a glassblowing competition can get dangerous (with a 2,000-degree furnace) or dramatic (as contestants race a ticking clock) — it’s also an example of what streamers can gain from reality competition shows. Netflix reported it lost more than 100,000 subscribers in the U.S., even though it was expected to gain more than 300,000. Reality com


A reality competition show about glassblowing was probably not going to be your go-to weekend binge. “Blown Away” is not only a visually appealing look at how a glassblowing competition can get dangerous (with a 2,000-degree furnace) or dramatic (as contestants race a ticking clock) — it’s also an example of what streamers can gain from reality competition shows. Netflix reported it lost more than 100,000 subscribers in the U.S., even though it was expected to gain more than 300,000. Reality com
Streamers such as Netflix have a lot to gain from competitive reality shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: mallika mitra
Keywords: news, cnbc, companies, visually, released, competitive, competition, shows, netflix, gain, reality, race, media, nadler, lot, streamers


Streamers such as Netflix have a lot to gain from competitive reality shows

A reality competition show about glassblowing was probably not going to be your go-to weekend binge. But Netflix may have changed that when it dropped “Blown Away” on July 12.

The new Canadian show features glassblowers fighting to impress a panel of judges with their artistic skills over a 10-episode season. The stakes: getting eliminated or nabbing a $60,000 cash prize and a residency at the Corning Museum of Glass. It was released the same month Netflix scored its first Emmy nomination in the “Outstanding Competition Program” category for baking show “Nailed It” — ending the 14-year streak for Bravo’s “Project Runway.”

“Blown Away” is not only a visually appealing look at how a glassblowing competition can get dangerous (with a 2,000-degree furnace) or dramatic (as contestants race a ticking clock) — it’s also an example of what streamers can gain from reality competition shows.

The show was on Netflix’s top 10 reality shows in the United Kingdom during the week of July 20, according to Radio Times, and has gotten buzz on social media — mostly driven by a divide about the winner.

Netflix was “sort of the most likely home for the show,” said Matt Hornburg, Marblemedia’s co-CEO and executive producer. Marblemedia produced the show in association with Netflix and Canadian broadcasting company Blue Ant Media and had distributed “Tales of Light,” a documentary reality show about photography that Netflix bought.

“We knew that visually rich projects are very appealing” to Netflix, Hornburg said. “They were very excited about the project.”

The streaming giant’s second-quarter earnings released in mid-July showed the company needs to gain more dedicated watchers. Netflix reported it lost more than 100,000 subscribers in the U.S., even though it was expected to gain more than 300,000.

Reality competition shows may be a way for Netflix to appeal to a wider audience, said James Nadler, chair of Ryerson University’s School of Creative Industries.

“The reality shows and competition shows still cut across all the demographics,” Nadler said, adding that shows such as CBS’ “Survivor” and “The Amazing Race” and NBC’s “The Voice” are ones families often watch together.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: mallika mitra
Keywords: news, cnbc, companies, visually, released, competitive, competition, shows, netflix, gain, reality, race, media, nadler, lot, streamers


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Here’s the 16-year-old who won $3 million at the Fortnite World Cup

Kyle “Bugha” Giersdorf celebrates his win as the first solo World Champion at the Fortnite World Cup Finals esports event at Arthur Ashe Stadium, July 28, 2019. A few hours later, the 16-year-old resident of Pottsgrove, Pennsylvania, left with a trophy and $3 million to his name as the first Fortnite World Cup champion. The past two years, Fortnite publisher Epic Games has dedicated $100 million each year for an esports prize pool, which included this weekend’s $30 million World Cup. He then qui


Kyle “Bugha” Giersdorf celebrates his win as the first solo World Champion at the Fortnite World Cup Finals esports event at Arthur Ashe Stadium, July 28, 2019. A few hours later, the 16-year-old resident of Pottsgrove, Pennsylvania, left with a trophy and $3 million to his name as the first Fortnite World Cup champion. The past two years, Fortnite publisher Epic Games has dedicated $100 million each year for an esports prize pool, which included this weekend’s $30 million World Cup. He then qui
Here’s the 16-year-old who won $3 million at the Fortnite World Cup Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-30  Authors: annie pei
Keywords: news, cnbc, companies, cup, won, royale, 16yearold, fortnites, game, games, competitive, world, kyle, esports, million, heres, fortnite


Here's the 16-year-old who won $3 million at the Fortnite World Cup

Kyle “Bugha” Giersdorf celebrates his win as the first solo World Champion at the Fortnite World Cup Finals esports event at Arthur Ashe Stadium, July 28, 2019.

“Today’s the day.”

That’s what Kyle “Bugha” Giersdorf tweeted as he walked into Arthur Ashe Stadium in New York on Sunday. A few hours later, the 16-year-old resident of Pottsgrove, Pennsylvania, left with a trophy and $3 million to his name as the first Fortnite World Cup champion.

That’s more than what tennis champion Novak Djokovic took home from his Wimbledon victory two weeks ago, and more than Tiger Woods’ winnings from this year’s Masters Tournament.

It is also the largest amount a single individual has won from an esports event in history. The past two years, Fortnite publisher Epic Games has dedicated $100 million each year for an esports prize pool, which included this weekend’s $30 million World Cup.

This is against the backdrop of Fortnite’s rapid growth thanks to its battle royale mode. Since Fortnite’s battle royale launch in 2017, the game has grown to 250 million players. Last year, the online video game generated $2.4 billion in revenue, according to SuperData, which made it the top grossing free-to-play game in 2018.

The game’s success has also helped Epic Games reach its current $15 billion valuation. The publisher raised $1.25 billion from a group, aXiomatic Gaming, in October, and Tencent currently has a 40 percent stake in the company.

Kyle, a 10th grader, signed up to play Fortnite’s battle royale mode shortly after its launch, drawn by how the building mechanics in the game especially allow you to “be creative in your own way.” He then quickly involved himself in the game’s competitive scene.

“From the really early stages, I saw the teams and [a lot of the best players’ videos], and it made me want to grind more to get into those videos,” he said. “I joined competitive ladders and worked my way through.”

In March, esports organization Sentinels signed the teen. The LA-based Sentinels, whose CEO is former Paramount Pictures vice chairman Rob Moore, are currently partnered with Kroenke Sports and Entertainment, which owns the Los Angeles Rams.

The teen had already established connections with the team prior to his signing, and had been spotted thanks to YouTube gameplay highlights he had posted.

And as far as Kyle is concerned, this year’s World Cup was just the tip of the iceberg for competitive Fortnite. At Sunday’s solo finals, Epic Games announced that the Fortnite Championship Series, a new competitive format, would debut with the game’s next in-game season that begins Thursday with millions on the line.


Company: cnbc, Activity: cnbc, Date: 2019-07-30  Authors: annie pei
Keywords: news, cnbc, companies, cup, won, royale, 16yearold, fortnites, game, games, competitive, world, kyle, esports, million, heres, fortnite


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Here are the biggest analyst calls of the day: Apple, Zillow, AMC & more

KeyBanc said the online real estate brokerage has a “competitive advantage.” “We are initiating coverage of Z at Overweight and recommend buying the shares. Zillow’s traffic should allow it to remain the leading marketplace for connecting home buyers/sellers with agents. Further, we believe its traffic, capital, and data provide competitive advantages that position Zillow to become the leading market maker for residential real estate in the U.S. We believe can drive substantial profit growth and


KeyBanc said the online real estate brokerage has a “competitive advantage.” “We are initiating coverage of Z at Overweight and recommend buying the shares. Zillow’s traffic should allow it to remain the leading marketplace for connecting home buyers/sellers with agents. Further, we believe its traffic, capital, and data provide competitive advantages that position Zillow to become the leading market maker for residential real estate in the U.S. We believe can drive substantial profit growth and
Here are the biggest analyst calls of the day: Apple, Zillow, AMC & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: michael bloom
Keywords: news, cnbc, companies, estate, target, calls, biggest, traffic, day, competitive, analyst, leading, zillows, amc, real, apple, believe, zillow


Here are the biggest analyst calls of the day: Apple, Zillow, AMC & more

KeyBanc said the online real estate brokerage has a “competitive advantage.”

“We are initiating coverage of Z at Overweight and recommend buying the shares. Zillow’s traffic should allow it to remain the leading marketplace for connecting home buyers/sellers with agents. Further, we believe its traffic, capital, and data provide competitive advantages that position Zillow to become the leading market maker for residential real estate in the U.S. We believe can drive substantial profit growth and ancillary opportunities over time. Our $66 price target is based on 9.0x 2020E EV/GP$. “


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: michael bloom
Keywords: news, cnbc, companies, estate, target, calls, biggest, traffic, day, competitive, analyst, leading, zillows, amc, real, apple, believe, zillow


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Britain’s big banks see ‘trust’ as a competitive edge amid the rise of fledgling fintechs

“Everything is expected to be on their phones and on their apps,” she said, referring to younger bank customers, “and actually that is the way we need to go.” According to the U.K. consultancy Caci, mobile banking is set to become more popular than visiting bank branches by 2021. Monzo reported a £33.1 million ($42.1 million) pre-tax loss last year, while Revolut racked up a £15.1 million loss in 2017. But it’s also an independent bank, and Nicholls says it will be able to operate at “zero margi


“Everything is expected to be on their phones and on their apps,” she said, referring to younger bank customers, “and actually that is the way we need to go.” According to the U.K. consultancy Caci, mobile banking is set to become more popular than visiting bank branches by 2021. Monzo reported a £33.1 million ($42.1 million) pre-tax loss last year, while Revolut racked up a £15.1 million loss in 2017. But it’s also an independent bank, and Nicholls says it will be able to operate at “zero margi
Britain’s big banks see ‘trust’ as a competitive edge amid the rise of fledgling fintechs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: ryan browne
Keywords: news, cnbc, companies, rise, fintechs, banks, bank, nicholls, banking, million, amid, edge, fintech, customers, uk, monzo, money, fledgling, trust, big, britains, competitive


Britain's big banks see 'trust' as a competitive edge amid the rise of fledgling fintechs

HSBC’s U.K. headquarters are seen at the Canary Wharf financial district of London on July 31, 2018. Tolga Akmen | AFP | Getty Images

Britain is the home of some of the world’s oldest financial institutions. To stay relevant, they’re racing to bring a better banking experience to their customers. In the last few years, a wave of fintech, or financial technology, start-ups have flooded the U.K. market, offering checking accounts and bank cards through an app — not a single physical branch in sight. That’s not gone unnoticed by the established consumer banking giants, which are having to evolve to keep up with the kind of offering coming out of challengers like Revolut and Monzo. HSBC for instance last year launched a new money management app called Connected Money, which shows users bank accounts from HSBC as well as rivals including Barclays and Lloyds. The bank recently topped the 300,000-user milestone. While that’s nowhere near Revolut’s more than 5 million users or Monzo’s 2 million signups, HSBC’s new app did hit that target in the space of a year. RBS, meanwhile, has formed its own standalone digital bank called Bo. The lender’s app breaks down spending into categories and sends alerts when a user pays for something, similar to how the fintech challengers’ platforms work. Bo, which is part of RBS’ NatWest division, is currently being beta-tested, with no date set for an eventual release to the general public.

The battle for trust

While banks are under increased pressure to innovate, they’re not facing an existential crisis, according to Raman Bhatia, HSBC’s head of digital for the U.K. and Europe. The lenders that will win in the long run, he says, are those that people trust. “I think one thing which remains a truism is customers do have a very high degree of trust when it comes to money, their deposits and their identity with respect to established banks,” Bhatia told CNBC. “And banks need to work harder than ever to preserve that trust.”

That view was echoed by Amelia Nicholls, chief of staff at RBS’ Bo, who said: “Customers trust legacy banks to keep their money safe, but they’re slightly unsure of fintechs keeping their money safe.” And there’s some truth to that claim. While Monzo has attracted over 2 million customers, the bank has seen some difficulty getting them to take the plunge and switch from their main bank to the start-up’s app-based current account. Monzo CEO Tom Blomfield told Reuters last month that only 30% of its users are using the app as their main bank account. “We’re kind of the best of both worlds,” Nicholls added. “We’re looking and acting and being built like a fintech start-up. But actually we have that backing of NatWest and hopefully that’s an advantage.”

Banking beyond Main Street

Large lenders may have the advantage of history and a customer base far outstripping that of any fintech challenger. But they’re having to wind back on their brick and mortar operations as customers increasingly flock to digital banking. British banks have shuttered their branches at an alarming rate. Consumer rights organization Which? said last year that 60 bank branches are closing every month. In total, 1,080 branches across the U.K. have closed, or are set to be closed, in 2018 and 2019. That might simply be the direction things are leaning toward. Bo’s Nicholls said the banks of the future will be forced to go beyond Main Street, as younger people increasingly want to do most of their daily tasks via smartphone. “Everything is expected to be on their phones and on their apps,” she said, referring to younger bank customers, “and actually that is the way we need to go.” She notes that challenger banks have gained significant popularity, among young people in particular, and suggested big lenders are hoping to tap into that trend. According to the U.K. consultancy Caci, mobile banking is set to become more popular than visiting bank branches by 2021.

Profitability is another potential advantage for the big banks. While neobanks like Monzo and Revolut have scored millions of users between them, they’ve struggled to translate their wild growth into profits. Monzo reported a £33.1 million ($42.1 million) pre-tax loss last year, while Revolut racked up a £15.1 million loss in 2017. Nicholls said that Bo had the advantage of being associated with a major banking brand like RBS, a profitable lender. But it’s also an independent bank, and Nicholls says it will be able to operate at “zero marginal cost.” “We are able to operate our current account on a break-even basis, which is super important in that space,” Nicholls said. “It would be easy for us to be financially sustainable because we can leverage the wider group and use our deposit base as well.” Going on a hiring spree also helps, HSBC’s Bhatia said, adding the company’s retail banking division boasts talent from fintechs as well as big tech companies. “We built a global digital team over the last four years which has people from all sorts of backgrounds,” he said. “We have big tech talent, we have start-ups and of course we have our homegrown talent expertise.”

Are banks too slow?

While banks are touting their moves into digital as a sign of progress, some in the fintech industry think they aren’t moving fast enough.

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Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: ryan browne
Keywords: news, cnbc, companies, rise, fintechs, banks, bank, nicholls, banking, million, amid, edge, fintech, customers, uk, monzo, money, fledgling, trust, big, britains, competitive


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New York, London and Paris remain the world’s most competitive cities — but perhaps not for long

New York, London and Paris continue to dominate as the world’s top three most competitive cities. That’s the conclusion of the 2019 Global Cities Report from management consulting company A.T. Kearney, which ranks the world’s major cities on their attractiveness for businesses and employees. For the tenth year in a row, New York (1st), London (2nd) and Paris (3rd) retained their titles as the world’s three most competitive cities based on a variety of factors including business activity and cult


New York, London and Paris continue to dominate as the world’s top three most competitive cities. That’s the conclusion of the 2019 Global Cities Report from management consulting company A.T. Kearney, which ranks the world’s major cities on their attractiveness for businesses and employees. For the tenth year in a row, New York (1st), London (2nd) and Paris (3rd) retained their titles as the world’s three most competitive cities based on a variety of factors including business activity and cult
New York, London and Paris remain the world’s most competitive cities — but perhaps not for long Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: karen gilchrist
Keywords: news, cnbc, companies, cities, york, competitive, human, long, capital, london, worlds, information, paris, global, remain


New York, London and Paris remain the world's most competitive cities — but perhaps not for long

New York, London and Paris continue to dominate as the world’s top three most competitive cities.

But their prime positions could be up for contention as progress across Europe, Asia and the Middle East shows signs of disrupting the status quo.

That’s the conclusion of the 2019 Global Cities Report from management consulting company A.T. Kearney, which ranks the world’s major cities on their attractiveness for businesses and employees.

For the tenth year in a row, New York (1st), London (2nd) and Paris (3rd) retained their titles as the world’s three most competitive cities based on a variety of factors including business activity and culture, human capital, political engagement and information exchange.

New York ranked especially highly for business activity and human capital, while Paris performed well for information exchange and London for culture.

The leading trio were joined in the top 10 of the “Global Cities Index” by Tokyo (4th), Hong Kong (5th), Singapore (6th), Los Angeles (7th), Chicago (8th), Beijing (9th) and Washington D.C. (10th).


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: karen gilchrist
Keywords: news, cnbc, companies, cities, york, competitive, human, long, capital, london, worlds, information, paris, global, remain


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Bill Gates: A key to Warren Buffett’s success is ‘something anyone could do’

Warren Buffett is anything but average: The legendary investor has an approximate net worth of $82 billion, making him the third richest person in the world. A key to Buffett’s extraordinary success, though, is a refreshingly simple habit and “something anyone can do,” his longtime friend Bill Gates pointed out in a recent blog post: He reads every day. Buffett, who spends between five and six hours a day paging through books and newspapers, finds it “enjoyable to think about business and invest


Warren Buffett is anything but average: The legendary investor has an approximate net worth of $82 billion, making him the third richest person in the world. A key to Buffett’s extraordinary success, though, is a refreshingly simple habit and “something anyone can do,” his longtime friend Bill Gates pointed out in a recent blog post: He reads every day. Buffett, who spends between five and six hours a day paging through books and newspapers, finds it “enjoyable to think about business and invest
Bill Gates: A key to Warren Buffett’s success is ‘something anyone could do’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: kathleen elkins, daniel acker, bloomberg, getty images, gp images, getty image
Keywords: news, cnbc, companies, buffetts, susan, loves, warren, simple, everybody, gates, buffett, business, worth, competitive, success, bill, read, key


Bill Gates: A key to Warren Buffett's success is 'something anyone could do'

Warren Buffett is anything but average: The legendary investor has an approximate net worth of $82 billion, making him the third richest person in the world. At 88, he still runs Berkshire Hathaway, his holding company that owns businesses like Geico, Dairy Queen and See’s Candies.

A key to Buffett’s extraordinary success, though, is a refreshingly simple habit and “something anyone can do,” his longtime friend Bill Gates pointed out in a recent blog post: He reads every day.

Buffett, who spends between five and six hours a day paging through books and newspapers, finds it “enjoyable to think about business and investment problems,” he says in HBO’s documentary “Becoming Warren Buffett.”

Plus, staying up to date on business news and current events is a relatively simple way to gain a competitive advantage. “Everybody can read what I read. It is a level playing field,” Buffett used to tell his late wife, Susan Buffett, according to the HBO documentary.

“And he loves that because he is competitive,” Susan said of Buffett. “He’s sitting there all by himself in his office, reading these things that everybody else can read, but he loves the idea that he is going to win.”


Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: kathleen elkins, daniel acker, bloomberg, getty images, gp images, getty image
Keywords: news, cnbc, companies, buffetts, susan, loves, warren, simple, everybody, gates, buffett, business, worth, competitive, success, bill, read, key


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MIT, Harvard study: Want your kids to be successful? Do this 1 thing

Every parent knows that raising a child can feel tantamount to a competitive sport. And while competitive parenting is widely condemned, we ultimately just want our children to live happy and successful lives. Thanks to modern science, there are a number of effective — yet obvious — strategies to smart parenting. One study from Harvard even suggested that skilled communicators typically turn out to be great negotiators. In turn, they “recognize the importance of expanding the pie of value for al


Every parent knows that raising a child can feel tantamount to a competitive sport. And while competitive parenting is widely condemned, we ultimately just want our children to live happy and successful lives. Thanks to modern science, there are a number of effective — yet obvious — strategies to smart parenting. One study from Harvard even suggested that skilled communicators typically turn out to be great negotiators. In turn, they “recognize the importance of expanding the pie of value for al
MIT, Harvard study: Want your kids to be successful? Do this 1 thing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: tom popomaronis, amy aldrete
Keywords: news, cnbc, companies, parenting, widely, harvard, kids, typically, value, turn, mit, successful, skills, number, children, study, competitive, thing


MIT, Harvard study: Want your kids to be successful? Do this 1 thing

Every parent knows that raising a child can feel tantamount to a competitive sport. And while competitive parenting is widely condemned, we ultimately just want our children to live happy and successful lives.

Thanks to modern science, there are a number of effective — yet obvious — strategies to smart parenting. But last year, a group of researchers at MIT, Harvard and the University of Pennsylvania found that one of the best things parents can do for their children is to have frequent back-and-forth exchanges with them.

The findings suggest that doing this at an early age (typically between ages 4 to 6) will help develop, foster and improve what is perhaps one of the most important skills that contribute to success in life: Communication.

What’s more, a number of studies have supported the idea that children with stronger communication skills are more likely to have healthier relationships, longer marriages, higher self-esteem and overall satisfaction in life.

One study from Harvard even suggested that skilled communicators typically turn out to be great negotiators. In turn, they “recognize the importance of expanding the pie of value for all parties at the table. In the process, they claim more money for themselves.”


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: tom popomaronis, amy aldrete
Keywords: news, cnbc, companies, parenting, widely, harvard, kids, typically, value, turn, mit, successful, skills, number, children, study, competitive, thing


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It will take China more than 10 years to compete with Boeing, Airbus, says CEO of Dassault Systemes

It will take China more than a decade to create a globally competitive, homegrown airplane maker that can go head-to-head with the likes of Boeing and Airbus, according to an industry veteran. Aerospace is a complex industry and it takes time, even for well-established companies, to accumulate knowledge and know-hows to build reliable commercial aircraft, Bernard Charles, vice chairman and CEO of Dassault Systemes, said Thursday. “I think it will take China one or two generations of airplanes to


It will take China more than a decade to create a globally competitive, homegrown airplane maker that can go head-to-head with the likes of Boeing and Airbus, according to an industry veteran. Aerospace is a complex industry and it takes time, even for well-established companies, to accumulate knowledge and know-hows to build reliable commercial aircraft, Bernard Charles, vice chairman and CEO of Dassault Systemes, said Thursday. “I think it will take China one or two generations of airplanes to
It will take China more than 10 years to compete with Boeing, Airbus, says CEO of Dassault Systemes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: saheli roy choudhury, simon dawson, bloomberg, getty images
Keywords: news, cnbc, companies, worldwide, dassault, systemes, vice, airbus, veteranaerospace, truly, ceo, competitive, china, wellestablished, told, compete, boeing, industry


It will take China more than 10 years to compete with Boeing, Airbus, says CEO of Dassault Systemes

It will take China more than a decade to create a globally competitive, homegrown airplane maker that can go head-to-head with the likes of Boeing and Airbus, according to an industry veteran.

Aerospace is a complex industry and it takes time, even for well-established companies, to accumulate knowledge and know-hows to build reliable commercial aircraft, Bernard Charles, vice chairman and CEO of Dassault Systemes, said Thursday.

“I think it will take China one or two generations of airplanes to have a truly worldwide competitive product but it’s a logical evolution, provided the market size of the country,” he told CNBC’s Martin Soong at the Boao Forum in China.

Dassault Systemes sells software to plane makers that help them digitalize their businesses. The idea is that by embracing more technology into daily operations, those manufacturers can bring down the cost of the jets, use resources more efficiently and ramp up production to meet demand.


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: saheli roy choudhury, simon dawson, bloomberg, getty images
Keywords: news, cnbc, companies, worldwide, dassault, systemes, vice, airbus, veteranaerospace, truly, ceo, competitive, china, wellestablished, told, compete, boeing, industry


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NASA and the White House want billions so companies will compete to build human moon landers

This year’s introduction of a competitive bidding process means that companies would build their own spacecraft, with help from competitive NASA funding awards, rather than build a NASA-specific spacecraft. Recently appointed NASA administrator Jim Bridenstine supported a White House plan last year to make ACSC a competitive process between companies, two people familiar with the matter told CNBC. The agency has spoken to companies about enabling “regular access to the lunar surface,” NASA said


This year’s introduction of a competitive bidding process means that companies would build their own spacecraft, with help from competitive NASA funding awards, rather than build a NASA-specific spacecraft. Recently appointed NASA administrator Jim Bridenstine supported a White House plan last year to make ACSC a competitive process between companies, two people familiar with the matter told CNBC. The agency has spoken to companies about enabling “regular access to the lunar surface,” NASA said
NASA and the White House want billions so companies will compete to build human moon landers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: michael sheetz, bettmann, getty images
Keywords: news, cnbc, companies, space, pence, human, house, lunar, white, competitive, landers, surface, moon, companies, build, sls, billions, compete, nasa


NASA and the White House want billions so companies will compete to build human moon landers

The huge increase in this year’s budget request for ACSC is the result of an internal battle at NASA, a person familiar with the situation told CNBC on Monday. This year’s introduction of a competitive bidding process means that companies would build their own spacecraft, with help from competitive NASA funding awards, rather than build a NASA-specific spacecraft.

NASA didn’t respond to CNBC requests for comment.

After the establishment of the National Space Council, President Donald Trump’s administration looked to work with the growing private space sector on multiple NASA programs. A main directive was to create a sustained U.S. presence on the moon. NASA would first send robots to the surface without crews, later following up with astronauts.

Recently appointed NASA administrator Jim Bridenstine supported a White House plan last year to make ACSC a competitive process between companies, two people familiar with the matter told CNBC. But some NASA leaders rejected the idea, wanting to stick with the development of an in-house lunar lander project, one of the people said.

Known as the “Flexible Lunar Explorer” (or FLEx) lander concept, some at NASA wanted a system built for the agency, rather than according to the companies building the spacecraft. This is NASA’s traditional method of awarding contracts, exemplified by the Boeing-built Space Launch System (SLS) rocket – which is now years behind and racking up billions of dollars in cost overruns.

With delays in the SLS program, privately-built rockets are being increasingly considered to launch NASA missions. And now, despite internal hesitancy, NASA is considering commercial alternatives for getting astronauts to the moon’s surface. The agency has spoken to companies about enabling “regular access to the lunar surface,” NASA said in its budget request earlier this month.

The increased funding for ACSC also matches with statements Vice President Mike Pence made on Tuesday at a National Space Council meeting. Pence said it is the White House policy “to return American astronauts to the moon within the next five years.” Although he said the SLS rocket must be accelerated to do so, he urged NASA to reach the moon “by any means necessary.”

“We’re not committed to any one contractor. If our current contractors can’t meet this objective, then we’ll find ones that will,” Pence said. “If American industry can provide critical commercial services without government development then we’ll buy them.”

Musk welcomed Pence’s comments, saying in a tweet that “it would be so inspiring for humanity to see humanity return to the moon!”


Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: michael sheetz, bettmann, getty images
Keywords: news, cnbc, companies, space, pence, human, house, lunar, white, competitive, landers, surface, moon, companies, build, sls, billions, compete, nasa


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