The Affordable Care Act ruled unconstitutional by TX federal judge

A federal judge in Texas ruled on Friday the Affordable Care Act unconstitutional, potentially threatening health-care coverage for millions of Americans and setting up a new legal showdown over former President Barack Obama’s signature policy initiative. U.S. District Court Judge Reed O’Connor of Texas issued the decision, declaring that key portions of the legislation were inconsistent with the Constitution. The mandate, which remains in effect for 2018, was a key part of ACA legislation, othe


A federal judge in Texas ruled on Friday the Affordable Care Act unconstitutional, potentially threatening health-care coverage for millions of Americans and setting up a new legal showdown over former President Barack Obama’s signature policy initiative. U.S. District Court Judge Reed O’Connor of Texas issued the decision, declaring that key portions of the legislation were inconsistent with the Constitution. The mandate, which remains in effect for 2018, was a key part of ACA legislation, othe
The Affordable Care Act ruled unconstitutional by TX federal judge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: berkeley lovelace jr, getty images
Keywords: news, cnbc, companies, coverage, court, health, mandate, judge, open, president, decision, legislation, act, federal, ruling, obamacare, tx, unconstitutional, care, affordable, ruled


The Affordable Care Act ruled unconstitutional by TX federal judge

A federal judge in Texas ruled on Friday the Affordable Care Act unconstitutional, potentially threatening health-care coverage for millions of Americans and setting up a new legal showdown over former President Barack Obama’s signature policy initiative.

U.S. District Court Judge Reed O’Connor of Texas issued the decision, declaring that key portions of the legislation were inconsistent with the Constitution. O’Connor’s ruling argued that the health-care law can not stand on its own since Congress last December repealed the individual mandate, which imposed a tax penalty on consumers who went uninsured.

The mandate, which remains in effect for 2018, was a key part of ACA legislation, otherwise known as Obamacare. The mandate is the greater of $695 person per adult, or 2.5 percent of household income.

The lawsuit was backed by the Trump administration, and is likely to be appealed — which could mean the legislation will heard anew by the Supreme Court, which upheld Obamacare in a narrowly divided 2012 ruling.

Medicare & Medicaid Services Administrator Seema Verma told reporters earlier this month that CMS has a plan to protect pre-existing conditions if the law is struck down.

A CMS spokesperson late Friday told CNBC, “The recent federal court decision is still moving through the courts, and the exchanges are still open for business and we will continue with open enrollment. There is no impact to current coverage or coverage in a 2019 plan.”

The ruling came hours before the ACA’s final open enrollment day to get health coverage next year. Sign-ups on the federal health insurance marketplace have been low this season, tumbling 11.7 percent from the same time last year, according to the latest figures from Centers for Medicare and Medicaid Services.

While President Donald Trump was previously unable to repeal Obamacare, he was able to dismantle key parts of it that several health policy researchers are blaming for much of the drop in enrollment this year. He applauded the judge’s ruling in a tweet late Friday.

White House Press Secretary Sarah Huckabee Sanders released a statement praising the ruling. “Obamacare has been struck down by a highly respected judge. The judge’s decision vindicates President Trump’s position that Obamacare is unconstitutional.”

Democratic California Attorney General Xavier Becerra, who led a group states in intervening to defend Obamacare, called the decision “an assault on 133 million Americans with preexisting conditions, on the 20 million Americans who rely on the ACA’s consumer protections for healthcare.”

The American Medical Association called the ruling “an unfortunate step backward for our health system” and warned the decision could “destabilize health insurance coverage.”

“No one wants to go back to the days of 20 percent of the population uninsured and fewer patient protections, but this decision will move us in that direction,” AMA president Barbara L. McAneny said in a statement.

Larry Levitt, senior vice president for Health Reform at the Kaiser Family Foundation said the ACA is still in effect, “so this court case should certainly not discourage people from signing up for insurance.”

Andy Slavitt, a former CMS administrator under the Obama administration, said the ruling is a political statement, noting that the ruling does not include an injunction. “This feels like picking a scab the American public wants healed,” Slavitt said.

“The most important thing is nothing changes for consumers,” in the short term he said. “This (case) is to going to go on and likely drag on for a couple of years.”

–CNBC’s Bertha Coombs contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: berkeley lovelace jr, getty images
Keywords: news, cnbc, companies, coverage, court, health, mandate, judge, open, president, decision, legislation, act, federal, ruling, obamacare, tx, unconstitutional, care, affordable, ruled


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Trump cheers judge’s ruling that struck down Obamacare ‘disaster’

President Donald Trump late Friday applauded a federal judge’s ruling in Texas that ruled former President Barack Obama’s signature health-care law was unconstitutional, and called on Congress to replace the current mandate with a new bill. U.S. District Court Judge Reed O’Connor of Texas issued the decision, declaring that key portions of the legislation were inconsistent with the Constitution. O’Connor’s ruling argued that the health-care law can not stand on its own since Congress last Decemb


President Donald Trump late Friday applauded a federal judge’s ruling in Texas that ruled former President Barack Obama’s signature health-care law was unconstitutional, and called on Congress to replace the current mandate with a new bill. U.S. District Court Judge Reed O’Connor of Texas issued the decision, declaring that key portions of the legislation were inconsistent with the Constitution. O’Connor’s ruling argued that the health-care law can not stand on its own since Congress last Decemb
Trump cheers judge’s ruling that struck down Obamacare ‘disaster’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: berkeley lovelace jr, yuri gripas
Keywords: news, cnbc, companies, trump, replace, texas, struck, president, decision, repeal, disaster, cheers, law, ruling, obamacare, judges, healthcare, congress


Trump cheers judge's ruling that struck down Obamacare 'disaster'

President Donald Trump late Friday applauded a federal judge’s ruling in Texas that ruled former President Barack Obama’s signature health-care law was unconstitutional, and called on Congress to replace the current mandate with a new bill.

U.S. District Court Judge Reed O’Connor of Texas issued the decision, declaring that key portions of the legislation were inconsistent with the Constitution. O’Connor’s ruling argued that the health-care law can not stand on its own since Congress last December repealed the individual mandate, which imposed a tax penalty on consumers who went uninsured.

Trump, who has long opposed Obamacare — and failed to rally the GOP behind an effort in 2017 to repeal and replace it —cheered the Texas decision. In response to the ruling, the president urged Congress in a tweet to pass a new “strong” health-care law that provides “great health-care and protects pre-existing conditions.”

Although a repeal and replace effort failed in the Senate, Trump was able to dismantle key parts of the law, and several health policy researchers have blamed his actions for much of the drop in enrollment this year.

Sign-ups on the federal health insurance marketplace have been low this season, tumbling 11.7 percent from the same time last year, according to the latest figures from Centers for Medicare and Medicaid Services.

Democratic California Attorney General Xavier Becerra, who led a group states in intervening to defend Obamacare, called the decision “an assault on 133 million Americans with preexisting conditions, on the 20 million Americans who rely on the ACA’s consumer protections for healthcare.”


Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: berkeley lovelace jr, yuri gripas
Keywords: news, cnbc, companies, trump, replace, texas, struck, president, decision, repeal, disaster, cheers, law, ruling, obamacare, judges, healthcare, congress


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OPEC meeting ends with no decision on production levels

OPEC has reportedly agreed to cut oil production, but the cartel ended its closely-watched meeting on Thursday without specifying how many barrels it would aim to remove from the market. The influential OPEC oil cartel gathered at its headquarters in Vienna, Austria with the aim of reaching an accord over throttling back output. The much-anticipated meeting comes at a time when the oil market is near the bottom of its worst price plunge since the 2008 financial crisis. However, OPEC delayed maki


OPEC has reportedly agreed to cut oil production, but the cartel ended its closely-watched meeting on Thursday without specifying how many barrels it would aim to remove from the market. The influential OPEC oil cartel gathered at its headquarters in Vienna, Austria with the aim of reaching an accord over throttling back output. The much-anticipated meeting comes at a time when the oil market is near the bottom of its worst price plunge since the 2008 financial crisis. However, OPEC delayed maki
OPEC meeting ends with no decision on production levels Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: sam meredith, tom dichristopher
Keywords: news, cnbc, companies, oil, production, levels, reduce, opec, output, opecs, ends, market, decision, meeting, group, russia


OPEC meeting ends with no decision on production levels

OPEC has reportedly agreed to cut oil production, but the cartel ended its closely-watched meeting on Thursday without specifying how many barrels it would aim to remove from the market.

The influential OPEC oil cartel gathered at its headquarters in Vienna, Austria with the aim of reaching an accord over throttling back output. The 15-member organization will hold talks with allied oil-producing nations including Russia on Friday.

The much-anticipated meeting comes at a time when the oil market is near the bottom of its worst price plunge since the 2008 financial crisis. Oil prices have crashed around 30 percent over the last two months, ratcheting up the pressure on budgets in oil-exporting countries.

Yet Russia’s refusal to commit to a production quota and OPEC’s failure to hammer out the details of a deal underscore the divisions within the two-year-old alliance, despite consensus that the group needs to take some form of action to boost the market.

OPEC has agreed in principle to reduce its output, two sources told Reuters on Thursday. However, OPEC delayed making a decision on how deeply it would cut production until after it meets with Russia on Friday. With few details to offer journalists, OPEC canceled a scheduled press conference.

“The fact that they’re saying the debate will continue tomorrow emphasizes the disarray,” said John Kilduff, founding partner at energy hedge fund Again Capital.

Saudi Arabia, OPEC’s largest producer, signaled earlier on Thursday that the group may reduce production less than the market expected.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: sam meredith, tom dichristopher
Keywords: news, cnbc, companies, oil, production, levels, reduce, opec, output, opecs, ends, market, decision, meeting, group, russia


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Damaging police report looms over Netanyahu re-election bid

Israeli police on Sunday recommended indicting Prime Minister Benjamin Netanyahu on bribery charges, adding to a growing collection of legal troubles that have clouded the longtime leader’s prospects for pursuing re-election next year. And in a law-abiding country police recommendations have no legal weight,” he told his Likud party at a Hannukah candle-lighting ceremony. Israeli law is unclear about whether an indicted prime minister would have to step down. With his Likud Party firmly behind h


Israeli police on Sunday recommended indicting Prime Minister Benjamin Netanyahu on bribery charges, adding to a growing collection of legal troubles that have clouded the longtime leader’s prospects for pursuing re-election next year. And in a law-abiding country police recommendations have no legal weight,” he told his Likud party at a Hannukah candle-lighting ceremony. Israeli law is unclear about whether an indicted prime minister would have to step down. With his Likud Party firmly behind h
Damaging police report looms over Netanyahu re-election bid Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: ronen zvulun
Keywords: news, cnbc, companies, bid, prime, charges, reelection, damaging, likud, looms, party, netanyahu, decision, minister, netanyahus, report, investigation, recommendations


Damaging police report looms over Netanyahu re-election bid

Israeli police on Sunday recommended indicting Prime Minister Benjamin Netanyahu on bribery charges, adding to a growing collection of legal troubles that have clouded the longtime leader’s prospects for pursuing re-election next year.

Netanyahu denied the latest allegations. But his fate now lies in the hands of his attorney general, who will decide in the coming months whether the prime minister should stand trial on a host of corruption allegations that could play a central role in next year’s election campaign.

In a scathing attack on police investigators in a speech on Sunday, Netanyahu called the investigation a “witch hunt” that was “tainted from the start.”

“Israel is a law-abiding country. And in a law-abiding country police recommendations have no legal weight,” he told his Likud party at a Hannukah candle-lighting ceremony. Most of his half-hour holiday speech went to dismissing the allegations, and the boisterous crowd of hundreds of party members rallied behind him.

Sunday’s decision followed a lengthy investigation into a case involving Netanyahu’s relationship with Shaul Elovitch, the controlling shareholder of Israel’s telecom giant Bezeq.

Police said they found sufficient evidence that confidants of Netanyahu promoted regulatory changes worth hundreds of millions of dollars to Bezeq. In exchange, they believe Netanyahu used his connections with Elovitch to receive positive press coverage on Bezeq’s popular news site Walla.

In a statement, police said the investigation concluded that Netanyahu and Elovitch engaged in a “bribe-based relationship.”

Police said they believed there was sufficient evidence to charge Netanyahu and his wife Sara with accepting bribes, fraud and breach of trust. They also recommended charges be brought against Elovitch, members of his family and members of his Bezeq management team.

Police have already recommended indicting Netanyahu on corruption charges in two other cases. One involves accepting gifts from billionaire friends, and the second revolves around alleged offers of advantageous legislation for a major newspaper in return for favorable coverage.

The prime minister has denied any wrongdoing.

“The police recommendations regarding me and my wife don’t surprise anyone,” Netanyahu said in a statement. “These recommendations were decided upon and leaked even before the investigation began.”

The police recommendations do not have any immediate impact on Netanyahu. They go to his hand-picked attorney general, Avichai Mandelblit, who will review the material and make the final decision on whether to press charges.

That decision will have a great impact on Netanyahu’s future. Israeli law is unclear about whether an indicted prime minister would have to step down. But at the minimum, a trial would put great pressure on Netanyahu, who has been in office for nearly a decade, to step aside.

Israel must hold its next election by November 2019. But Israeli governments rarely last their full terms.

Netanyahu last month was nearly forced to call elections after a key partner withdrew from his coalition to protest a cease-fire with the Hamas militant group in Gaza. Netanyahu now leads a coalition with a razor-thin 61 seat majority in the 120-seat parliament.

With his Likud Party firmly behind him and his remaining coalition partners remaining silent, there does not seem to be any immediate threat to the government.

Mandelblit’s office has not said when he will issue his decision. Most analysts expect him to take several months to review the material.

Reuven Hazan, a political scientist at Hebrew University, said Netanyahu will likely try to push forward elections before Mandelblit decides whether to indict. Netanyahu holds a solid lead in all opinion polls, and a victory would make it more difficult for Mandelblit to indict and potentially force out a newly re-elected leader.

“He’ll send a message to the attorney general that everyone knew about these three police reports and they still voted for him and want him in power,” Hazan said. That would force the attorney general “to seriously reconsider his decision,” he said.

The Bezeq case, known as Case 4000, is the most serious of which Netanyahu has been accused. Two of his top confidants have turned state witnesses and are believed to have provided police with incriminating evidence.

Netanyahu held the government’s communications portfolio until last year and oversaw regulation in the field. Former journalists at the Walla news site have attested to being pressured to refrain from negative reporting of Netanyahu.

Opposition lawmakers called on Netanyahu to resign.

“The prime minister has no moral mandate to keep his seat and must resign today. Israel must go to elections,” said Tamar Zandberg, head of the dovish Meretz party.

But Netanyahu’s colleagues in the ruling Likud Party lined up behind him, attacking outgoing Police Commissioner Roni Alsheikh for releasing the recommendation on his last day on the job.

The appointment of Alsheikh’s potential successor is being held up after a government-appointed committee rejected his candidacy, and Netanyahu has repeatedly criticized the police as the investigations into his behavior have mounted.

Micky Zohar, a Likud lawmaker, sarcastically called the police report Alsheikh’s “parting gift” to Netanyahu.

Netanyahu and his wife have long had reputations for being overindulgent and out of touch with common Israelis.

Sara Netanyahu went on trial in October on fraud and breach of trust charges for allegedly spending roughly $100,000 of government funds on private meals at the prime minister’s official residence, even as there was a full-time chef on staff.

In 2016, a court ruled she abused an employee and awarded the man $42,000 in damages. Other former employees have accused her of mistreatment, charges the Netanyahus have vehemently denied.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: ronen zvulun
Keywords: news, cnbc, companies, bid, prime, charges, reelection, damaging, likud, looms, party, netanyahu, decision, minister, netanyahus, report, investigation, recommendations


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Cracking the Chinese market requires patience and localization, Western executives say

To break into China and expand their businesses in Asia, companies need to establish a long-term strategy and a deep understanding of local practices, several business leaders told CNBC. As a result, Chinese start-ups have often pushed beyond the ethical boundaries of what a Western company might consider appropriate, before authorities step in. “There aren’t many Western tech companies that have had success in China because it is a very competitive environment,” Mikkel Hippe Brun, co-founder of


To break into China and expand their businesses in Asia, companies need to establish a long-term strategy and a deep understanding of local practices, several business leaders told CNBC. As a result, Chinese start-ups have often pushed beyond the ethical boundaries of what a Western company might consider appropriate, before authorities step in. “There aren’t many Western tech companies that have had success in China because it is a very competitive environment,” Mikkel Hippe Brun, co-founder of
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Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: evelyn cheng, dave zhong, getty images for cnbc, -jay li, general manager of greater china for world wrestli
Keywords: news, cnbc, companies, decision, seen, need, say, asia, china, market, patience, western, kjol, requires, executives, localization, chinese, cracking, tech, companies


Cracking the Chinese market requires patience and localization, Western executives say

To break into China and expand their businesses in Asia, companies need to establish a long-term strategy and a deep understanding of local practices, several business leaders told CNBC.

“If you want to come to Asia, and think that (you can just) turn around, bring back a bag full of money, don’t make that mistake,” said Hakon Bruaset Kjol, senior vice president, partner and external relations Asia, at mobile network operator Telenor. “We have seen so many companies come and try to do that. You need to be long term.”

Speaking Wednesday at CNBC’s East Tech West conference in the Nansha district of Guangzhou in China, Kjol said that the process of entering the Asian market will take longer for companies coming in with Western-developed principles and codes of conduct.

Beijing especially has tended to take a more reactionary approach to regulating fast-growing industries such as technology. As a result, Chinese start-ups have often pushed beyond the ethical boundaries of what a Western company might consider appropriate, before authorities step in.

“There aren’t many Western tech companies that have had success in China because it is a very competitive environment,” Mikkel Hippe Brun, co-founder of cloud-based supply chain company Tradeshift, said in a separate session at the conference on Wednesday. “Chinese companies run with Chinese speed and very short decision cycles. So Western companies (are) always behind, (and) seen as slow in those decision cycles.”


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: evelyn cheng, dave zhong, getty images for cnbc, -jay li, general manager of greater china for world wrestli
Keywords: news, cnbc, companies, decision, seen, need, say, asia, china, market, patience, western, kjol, requires, executives, localization, chinese, cracking, tech, companies


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Qatar to quit OPEC after more than 57 years, denies decision related to Saudi-led boycott

Qatar announced plans to pull out of OPEC on Monday, just days before a crucial meeting between the influential oil cartel and its allies. Speaking at a news conference, Qatar’s Energy Minister Saad al-Kaabi said the country would withdraw from OPEC on January 1, 2019, ending a membership which has stood for more than half-a-century. The decision comes after Qatar reviewed ways in which it could improve its global standing and plan its long-term strategy. The country’s energy minister said Monda


Qatar announced plans to pull out of OPEC on Monday, just days before a crucial meeting between the influential oil cartel and its allies. Speaking at a news conference, Qatar’s Energy Minister Saad al-Kaabi said the country would withdraw from OPEC on January 1, 2019, ending a membership which has stood for more than half-a-century. The decision comes after Qatar reviewed ways in which it could improve its global standing and plan its long-term strategy. The country’s energy minister said Monda
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Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: sam meredith, barbara gindl, afp, getty images
Keywords: news, cnbc, companies, saudi, producers, oil, 57, denies, opec, saudiled, qatar, quit, decision, boycott, related, qatars, minister, energy, meeting


Qatar to quit OPEC after more than 57 years, denies decision related to Saudi-led boycott

Qatar announced plans to pull out of OPEC on Monday, just days before a crucial meeting between the influential oil cartel and its allies.

Speaking at a news conference, Qatar’s Energy Minister Saad al-Kaabi said the country would withdraw from OPEC on January 1, 2019, ending a membership which has stood for more than half-a-century.

The decision comes after Qatar reviewed ways in which it could improve its global standing and plan its long-term strategy.

While Qatar is one of OPEC’s smallest oil producers, especially when compared to the likes of de facto leader Saudi Arabia, it is one of the world’s largest producers of liquefied natural gas (LNG).

The country’s energy minister said Monday that the move represents a “technical and strategic” change, Reuters reported, and was not politically motivated.

Qatar’s Al-Kaabi also said the decision was not linked to the 18-month political and economic boycott of Doha.

Since June 2017, OPEC kingpin Saudi Arabia — along with three other Arab states — has cut trade and transport ties with Qatar, accusing the country of supporting terrorism and their regional rival, Iran. Qatar denies the claims, saying the boycott hampers its national sovereignty.

The Middle East-dominated group’s final meeting of the calendar year is now expected to be Qatar’s last. It has been an official OPEC member since 1961.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: sam meredith, barbara gindl, afp, getty images
Keywords: news, cnbc, companies, saudi, producers, oil, 57, denies, opec, saudiled, qatar, quit, decision, boycott, related, qatars, minister, energy, meeting


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Even at $6, Snap’s stock still isn’t a bargain, Cramer warns: ‘It’s an ill-advised decision to buy’

Snap Inc.’s stock price may have fallen to just over $6 a share — down about 70 percent from where the stock started publicly trading — but even this low price shouldn’t fool investors, CNBC’s Jim Cramer said Friday. For Cramer, host of “Mad Money,” the most worrisome thing about the Snapchat parent is its cash generation. “As we’ve watched the company struggle and the stock go into freefall, I’ve started to wonder if Snap has enough money,” he said. “Until Snap gives us some reason to believe i


Snap Inc.’s stock price may have fallen to just over $6 a share — down about 70 percent from where the stock started publicly trading — but even this low price shouldn’t fool investors, CNBC’s Jim Cramer said Friday. For Cramer, host of “Mad Money,” the most worrisome thing about the Snapchat parent is its cash generation. “As we’ve watched the company struggle and the stock go into freefall, I’ve started to wonder if Snap has enough money,” he said. “Until Snap gives us some reason to believe i
Even at $6, Snap’s stock still isn’t a bargain, Cramer warns: ‘It’s an ill-advised decision to buy’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: elizabeth gurdus
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Even at $6, Snap's stock still isn't a bargain, Cramer warns: 'It's an ill-advised decision to buy'

Snap Inc.’s stock price may have fallen to just over $6 a share — down about 70 percent from where the stock started publicly trading — but even this low price shouldn’t fool investors, CNBC’s Jim Cramer said Friday.

“Do not be tempted by Snap’s $6-and-change share price. It’s not a bargain,” he warned. “At more than five times next year’s sales [estimates], you could argue it’s actually fairly expensive. And, of course, there are some alarming long-term trends here.”

For Cramer, host of “Mad Money,” the most worrisome thing about the Snapchat parent is its cash generation. When Snap went public in early 2017 with nearly $1 billion on its balance sheet, that was the last thing investors were worried about, but lately, “Snap’s cash hoard has been slowly dwindling,” he said.

Since the second quarter of 2017, when Snap had $3.24 billion in cash, its cash balance has declined by double digits every quarter, falling to $1.4 billion as of its latest quarterly report.

Worse, the company’s cash from operating activities — what its core business earns, minus some major expenditures — has been shrinking by bigger and bigger amounts. And while some of that money is being invested in growth, most of it is funding the social media company’s day-to-day operations, Cramer said.

“As we’ve watched the company struggle and the stock go into freefall, I’ve started to wonder if Snap has enough money,” he said. “Just keeping the lights on at Snapchat is costing these guys a fortune. That’s not good.”

While Snap currently has no debt, a business that drains cash instead of generating it presents a “huge problem,” the “Mad Money” host continued.

The proximate cause, he explained, is that Snap spends a fortune on the cloud: with hundreds of millions of users uploading and downloading Snapchat content every day, the parent company has to pay for the digital space.

And even though Snap’s management laid out some lofty goals for the year ahead, namely turning a profit and stemming the company’s free cash flow losses, Snapchat’s total number of daily active users is now declining, Cramer warned.

“Snap’s growth is evaporating before our very eyes,” he said.

Add in Snap’s slowing revenue growth — up 44 percent in the latest quarter, down from 72 percent in the year prior and 285 percent at the IPO — and some high-level executive departures, and Snap’s future looks murky to Cramer.

“Until Snap gives us some reason to believe in a turnaround, it’s an ill-advised decision to buy the stock,” he concluded.

Shares of Snap ended Friday’s trading session up 1.72 percent at $6.51, dipping slightly in after-hours trading.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: elizabeth gurdus
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Even at $6, Snap’s stock still isn’t a bargain, Cramer warns: ‘It’s an ill-advised decision to buy’

Even at $6, Snap’s stock still isn’t a bargain, Cramer warns: ‘It’s an ill-advised decision to buy’3 Hours AgoJim Cramer says it’s “ill-advised” to buy shares of social media play Snap Inc. as the company’s revenue growth decelerates and daily active user numbers drop.


Even at $6, Snap’s stock still isn’t a bargain, Cramer warns: ‘It’s an ill-advised decision to buy’3 Hours AgoJim Cramer says it’s “ill-advised” to buy shares of social media play Snap Inc. as the company’s revenue growth decelerates and daily active user numbers drop.
Even at $6, Snap’s stock still isn’t a bargain, Cramer warns: ‘It’s an ill-advised decision to buy’ Cached Page below :
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Even at $6, Snap's stock still isn't a bargain, Cramer warns: 'It's an ill-advised decision to buy'

Even at $6, Snap’s stock still isn’t a bargain, Cramer warns: ‘It’s an ill-advised decision to buy’

3 Hours Ago

Jim Cramer says it’s “ill-advised” to buy shares of social media play Snap Inc. as the company’s revenue growth decelerates and daily active user numbers drop.


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South Africa raises lending rate to 6.75 percent in tight call

South Africa’s central bank increased its benchmark lending rate by 25 basis points to 6.75 percent on Thursday in a close decision, saying the longer term inflation outlook remained elevated and that it could not risk waiting until later to act. In a poll taken by Reuters last week, 16 of 26 economists said the South African Reserve Bank (SARB) would keep its repo rate at 6.50 percent while the rest opted for a 25 basis-point hike. Three of the six Monetary Policy Committee members wanted a 25


South Africa’s central bank increased its benchmark lending rate by 25 basis points to 6.75 percent on Thursday in a close decision, saying the longer term inflation outlook remained elevated and that it could not risk waiting until later to act. In a poll taken by Reuters last week, 16 of 26 economists said the South African Reserve Bank (SARB) would keep its repo rate at 6.50 percent while the rest opted for a 25 basis-point hike. Three of the six Monetary Policy Committee members wanted a 25
South Africa raises lending rate to 6.75 percent in tight call Cached Page below :
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South Africa raises lending rate to 6.75 percent in tight call

South Africa’s central bank increased its benchmark lending rate by 25 basis points to 6.75 percent on Thursday in a close decision, saying the longer term inflation outlook remained elevated and that it could not risk waiting until later to act.

In a poll taken by Reuters last week, 16 of 26 economists said the South African Reserve Bank (SARB) would keep its repo rate at 6.50 percent while the rest opted for a 25 basis-point hike.

Three of the six Monetary Policy Committee members wanted a 25 basis points increase while the other three called for no change, Governor Lesetja Kganyago told reporters in Pretoria.

“We then closed the room, debated vigorously until a decision was made. In the end, the decision was that we go with the 25 basis points hike,” Kganyago said.


Company: cnbc, Activity: cnbc, Date: 2018-11-22  Authors: artie photography, getty images
Keywords: news, cnbc, companies, wanted, bank, lending, 675, raises, basis, africa, week, kganyago, decision, points, rate, tight, 25, south


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Facebook’s outgoing communications head reportedly takes the blame for hiring controversial PR firm

Facebook’s outgoing head of communications and public policy said that he knew and approved the decision to hire controversial public relations firm, Definers Public Affairs, according to an internal memo reported by TechCrunch. Elliot Schrage, who announced in June that he was leaving, said his team asked Definers to push negative narratives about Facebook’s competitors. But he denied that the company asked the PR firm to distribute or create fake news, according to the TechCrunch report. He al


Facebook’s outgoing head of communications and public policy said that he knew and approved the decision to hire controversial public relations firm, Definers Public Affairs, according to an internal memo reported by TechCrunch. Elliot Schrage, who announced in June that he was leaving, said his team asked Definers to push negative narratives about Facebook’s competitors. But he denied that the company asked the PR firm to distribute or create fake news, according to the TechCrunch report. He al
Facebook’s outgoing communications head reportedly takes the blame for hiring controversial PR firm Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: saheli roy choudhury, james lawler duggan, -elliot schrage
Keywords: news, cnbc, companies, hire, firm, communications, definers, controversial, decision, reportedly, hiring, public, pr, reported, schrage, outgoing, negative, knew, head, takes, according, facebooks, asked


Facebook's outgoing communications head reportedly takes the blame for hiring controversial PR firm

Facebook’s outgoing head of communications and public policy said that he knew and approved the decision to hire controversial public relations firm, Definers Public Affairs, according to an internal memo reported by TechCrunch.

Elliot Schrage, who announced in June that he was leaving, said his team asked Definers to push negative narratives about Facebook’s competitors. But he denied that the company asked the PR firm to distribute or create fake news, according to the TechCrunch report.

He also admitted that Facebook asked Definers to conduct research on liberal financier George Soros.

Facebook did not immediately respond to CNBC’s request for comments, which were sent after office hours.

“I knew and approved of the decision to hire Definers and similar firms. I should have known of the decision to expand their mandate,” Schrage said in the memo.

Last week, an extensively reported New York Times article said that Definers wrote dozens of articles that tried to deflect negative attention onto rivals Google and Apple and pushed the idea that Soros was behind a growing anti-Facebook movement.

Facebook expanded its relationship with Definers in October 2017 after enduring a year’s worth of external criticism over its handling of Russian interference on its social network, according to the report.


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: saheli roy choudhury, james lawler duggan, -elliot schrage
Keywords: news, cnbc, companies, hire, firm, communications, definers, controversial, decision, reportedly, hiring, public, pr, reported, schrage, outgoing, negative, knew, head, takes, according, facebooks, asked


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