White House pushes back against recession fears, defends trade war

“I don’t think we’re having a recession,” Trump told reporters. The bond market flashed a signal Wednesday that is normally interpreted as a sign a recession is on the horizon. The executives said the consumer was doing well, but could do even better if issues such as the China-U.S. trade war were resolved, this person said. Both Kudlow and Navarro strongly defended Trump’s trade war with China. Navarro said the U.S. was winning the trade war and dismissed arguments that Americans were shoulderi


“I don’t think we’re having a recession,” Trump told reporters. The bond market flashed a signal Wednesday that is normally interpreted as a sign a recession is on the horizon. The executives said the consumer was doing well, but could do even better if issues such as the China-U.S. trade war were resolved, this person said. Both Kudlow and Navarro strongly defended Trump’s trade war with China. Navarro said the U.S. was winning the trade war and dismissed arguments that Americans were shoulderi
White House pushes back against recession fears, defends trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: spencer kimball
Keywords: news, cnbc, companies, trade, defends, war, kudlow, economic, market, tariffs, pushes, president, trump, white, recession, fears, house, china


White House pushes back against recession fears, defends trade war

U.S. President Donald Trump speaks with Larry Kudlow, director of the U.S. National Economic Council, right, in the Roosevelt Room of the White House in Washington, D.C.

President Donald Trump said Sunday he doesn’t see a recession on the horizon after a volatile week for markets.

“I don’t think we’re having a recession,” Trump told reporters. “We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they’re loaded up with money.”

The bond market flashed a signal Wednesday that is normally interpreted as a sign a recession is on the horizon. The yield on the 10-year Treasury note briefly broke below the rate for the 2-year. The Dow Jones Industrial Average dropped 800 points or about 3% as the bond market spooked investors.

The president called the heads of J.P. Morgan Chase, Bank of America and Citigroup as the stock market tanked Wednesday, according to people with knowledge of the situation. Trump asked the executives for a read on the health of the U.S. consumer, according to one of the people.

The executives said the consumer was doing well, but could do even better if issues such as the China-U.S. trade war were resolved, this person said.

Trump’s top economic advisor Larry Kudlow said Sunday strong retail sales and low unemployment were signs the economy remained strong.

“I think we’re in pretty good shape,” Kudlow said. A gauge of U.S. manufacturing, however, recently fell to its lowest reading since 2009 as demand weakened and managers slowed hiring.

White House trade advisor Peter Navarro disputed that the yield curve had inverted. He said the curve was flat and claimed this is a sign that foreign capital is flowing into the U.S., which is bidding up bond prices on the long end and bidding down yields.

“In this case, the flat curve is actually the result of a very strong Trump economy,” he said.

Both Kudlow and Navarro strongly defended Trump’s trade war with China. Earlier this month, the president said he would impose 10% tariffs on $300 billion of imports from China.

However, Trump decided to postpone some tariffs until Dec. 15 out of concern that it could impact the holiday shopping season, which seemed to contradict past administration statements that China was shouldering the burden.

Trump reiterated his stance Sunday: “China is eating the tariffs — at least so far,” he said.

Navarro said the U.S. was winning the trade war and dismissed arguments that Americans were shouldering the burden, despite mounting complaints from American farmers, who broadly support Trump, that the trade war is hurting them.

Kudlow, for his part, said the U.S. is locked in a battle with Beijing over technology.

“We are in a kind of technological war with China, and we cannot let them steal our family jewels which is the heart of the American economic growth miracle,” he said.

— CNBC’s Hugh Son contributed to this report


Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: spencer kimball
Keywords: news, cnbc, companies, trade, defends, war, kudlow, economic, market, tariffs, pushes, president, trump, white, recession, fears, house, china


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Cloudflare CEO defends decision to drop website used by El Paso shooting suspect, calling it ‘lawless’

Cloudflare CEO Matthew Prince is defending his decision to pull the plug on the controversial website used by the El Paso shooting suspect. Cloudflare initially said on Sunday that it would not cut off 8chan. Unlike 8chan, social media platforms like Facebook and Twitter “aren’t lawless platforms,” Prince said, citing the companies’ global moderation teams and policies around hate speech. Social media platforms have recently announced sweeping measures to beat back hate speech and other content


Cloudflare CEO Matthew Prince is defending his decision to pull the plug on the controversial website used by the El Paso shooting suspect. Cloudflare initially said on Sunday that it would not cut off 8chan. Unlike 8chan, social media platforms like Facebook and Twitter “aren’t lawless platforms,” Prince said, citing the companies’ global moderation teams and policies around hate speech. Social media platforms have recently announced sweeping measures to beat back hate speech and other content
Cloudflare CEO defends decision to drop website used by El Paso shooting suspect, calling it ‘lawless’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: annie palmer
Keywords: news, cnbc, companies, website, facebook, content, twitter, platforms, cut, shooting, used, el, drop, decision, 8chan, lawless, prince, defends, paso, suspect


Cloudflare CEO defends decision to drop website used by El Paso shooting suspect, calling it 'lawless'

Cloudflare CEO Matthew Prince is defending his decision to pull the plug on the controversial website used by the El Paso shooting suspect.

The company, which provides security software and other services to websites that help them stay online, announced in a blog post Sunday night that it was terminating services to 8chan after the suspected gunman in the El Paso shooting appeared to use it to post an anti-immigrant and anti-government screed. The shooting on Saturday left at least 20 people dead and another 26 wounded. Cloudflare initially said on Sunday that it would not cut off 8chan.

Since announcing the move to cut off 8chan, the U.S. cybersecurity company has faced criticism from some who say it is wrongfully policing the internet.

“If you are on Twitter right now, all of the 8chan supporters are saying ‘Why don’t you cut off Facebook or Twitter because there are horrible things that get posted to them?’ That’s true, there are horrible things that get posted to them,” Prince said in an interview with Ben Thompson, an independent analyst who runs Stratechery.

Unlike 8chan, social media platforms like Facebook and Twitter “aren’t lawless platforms,” Prince said, citing the companies’ global moderation teams and policies around hate speech.

“If you don’t have that, then you do fall into a different bucket,” Prince said. “That was the rationale that we came to.”

8chan demonstrated that it’s “truly lawless,” by not responding to abuse complaints and ultimately “directly inspired” three mass shootings, he added, referring to the attacks in El Paso, Christchurch, New Zealand and at the Chabad of Poway synagogue in Poway, California.

“While we think it’s really important that we are not the ones being the arbiter of what is good or bad, if at the end of the day content platforms aren’t taking any responsibility, or in some cases actively thwarting it, and we see that there is real harm that those platforms are doing, then maybe that is the time that we cut people off,” Prince said.

Cloudflare has previously cut off service to websites promoting hateful content. In 2017, the company terminated service with website the Daily Stormer in the wake of the deadly Unite the Right rally in Charlottesville, Virginia, which left three people dead.

Social media platforms have recently announced sweeping measures to beat back hate speech and other content that violate their policies. Earlier this year, Facebook and Google-owned YouTube began removing content promoting supremacist content.


Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: annie palmer
Keywords: news, cnbc, companies, website, facebook, content, twitter, platforms, cut, shooting, used, el, drop, decision, 8chan, lawless, prince, defends, paso, suspect


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Juul co-founder defends e-cigarette start-up in congressional hearing over its alleged role in teen vaping ‘epidemic’

Monsees told lawmakers that Juul “never wanted any non-nicotine users, and certainly not anyone underage” to use its products. He acknowledged federal data shows millions of high school students started vaping as Juul’s products became popular. “I want to tell you, I’ve been involved in public health for a long time in the Bay Area,” Rep. Mark DeSaulnier, D-Calif., told Monsees. “I consider traditional big tobacco company as a major investor in our company,” Monsees said, to which Schultz respon


Monsees told lawmakers that Juul “never wanted any non-nicotine users, and certainly not anyone underage” to use its products. He acknowledged federal data shows millions of high school students started vaping as Juul’s products became popular. “I want to tell you, I’ve been involved in public health for a long time in the Bay Area,” Rep. Mark DeSaulnier, D-Calif., told Monsees. “I consider traditional big tobacco company as a major investor in our company,” Monsees said, to which Schultz respon
Juul co-founder defends e-cigarette start-up in congressional hearing over its alleged role in teen vaping ‘epidemic’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: angelica lavito
Keywords: news, cnbc, companies, monsees, congressional, juul, told, role, products, smoking, defends, ecigarette, juuls, cigarettes, company, vaping, teen, tobacco, epidemic, hearing, startup, product


Juul co-founder defends e-cigarette start-up in congressional hearing over its alleged role in teen vaping 'epidemic'

Juul co-founder James Monsees defended the e-cigarette start-up in a congressional hearing Thursday, saying the company “never wanted” minors to use its products, while admitting the company made “missteps.”

The House Oversight committee’s Economic and Consumer Policy subcommittee called in Monsees and Ashley Gould, Juul’s chief administrative officer, to testify. Thursday marked the first time lawmakers publicly grilled Juul executives.

Monsees told lawmakers that Juul “never wanted any non-nicotine users, and certainly not anyone underage” to use its products. He acknowledged federal data shows millions of high school students started vaping as Juul’s products became popular.

“We’ve certainly made missteps,” Monsees said. “I understand the criticism of some of our past actions, but we moved on very quickly.”

Juul, the market leader, says its e-cigarettes are meant for adult smokers, not minors and non-smokers. E-cigarettes are billed as a way to give people their nicotine fix without all the harm that comes with cigarettes. Critics say they’re merely a new way to hook a new generation on nicotine.

The divide was apparent on Thursday. Democrats ripped into the Juul executives, accusing the company of purposely luring teenagers to its e-cigarettes with fruity flavors and youthful advertising. Republicans appeared more sympathetic to Juul, reminding colleagues that millions of Americans still smoke and struggle to quit.

“I want to tell you, I’ve been involved in public health for a long time in the Bay Area,” Rep. Mark DeSaulnier, D-Calif., told Monsees. “You, sir, are an example to me of the worst of the Bay Area. You don’t ask for permission, you ask for forgiveness. You’re nothing but a marketer of a poison, and your target is young people.”

Monsees tried to distance Juul from Big Tobacco, even though Juul sold a 35% stake of its company to Marlboro-cigarette maker Altria late last year.

“Put simply, Juul Labs isn’t Big Tobacco,” he said. “We are here to eliminate its product, the cigarette.”

Rep. Debbie Wasserman Schultz, D-Fla., pressed Monsees on this relationship, asking whether Juul considered itself Big Tobacco because of it.

“I consider traditional big tobacco company as a major investor in our company,” Monsees said, to which Schultz responded, “actions speak louder than words.”

Committee chair Rep. Raja Krishnamoorthi, D-Ill., presented images comparing Marlboro cigarette branding with Juul’s nicotine pod design. He pressed Monsees on a settlement Juul made with Altria subsidiary Philip Morris USA in 2015 over its design, saying Juul purposely replicated the popular Marlboro brand.

“I do deny that you’re comparing here, with all due respect, Mr. Chairman, you’re comparing a piece of packaging to piece of product hardware,” Monsees said in response to a question on whether he denies that Juul’s initial pod design resembled Marlboro’s design. “There was never any intent. The last thing we wanted was to be confused with any major tobacco company.”

On Wednesday, the first day of hearings, two teenagers testified that a Juul representative gave an anti-vaping presentation at their school. They said the presenter told students that “Juul is safe” and then classmates who already vaped breathed “a sigh of relief.” They said the Juul representative also said, “We don’t want you as customers.”

Rep. Katie Hill, D-Calif., told Gould it disturbed her that Juul tried pushing an anti-vaping curriculum in schools. Gould said the company abandoned the effort once it learned that tobacco companies had made similar attempts.

Democrats criticized Juul’s fruity flavors, such as mango and creme. Monsees defended the company’s flavors, saying they help adult smokers stop smoking cigarettes. Juul pulled nearly all of its flavors out of retail last year, facing pressure from the Food and Drug Administration.

Rep. Rashida Tlaib, D-Mich., said Juul changed its image only after the FDA called out its advertising. The company launched a campaign in January called “Make the Switch,” featuring stories of adults who stopped smoking cigarettes thanks to Juul.

Tlaib accused Juul of skirting federal regulations barring companies from making smoking cessation claims without the FDA’s approval, arguing that “switch” is merely a veiled word for “quit.” She pressed Juul on its efforts to sell Juul e-cigarettes to employers and insurers, as CNBC reported in March.

“We do not claim for Juul to be a cessation product,” Monsees said. “The history of cessation products have extremely low efficacy. That’s the problem we’re trying to solve here. If we can market to consumers an alternative and sell it right next to cigarettes, then we can actually make something work.”

On Wednesday, anti-smoking advocates told lawmakers how Juul has become ubiquitous among teenagers. Stanford professor Robert Jackler displayed Juul advertisements featuring bright colors and attractive, young-looking models.

Last year, nearly 21% of U.S. high school students — roughly 3 million teens — vaped, according to federal survey data. Critics say Juul targeted minors and caused what regulators are calling a teen vaping “epidemic.” Juul says its products are for adult smokers who want to stop smoking cigarettes, not for kids.

Juul’s CEO apologized in an interview with CNBC following a recent documentary, “Vaporized: America’s E-cigarette Addiction.” CNBC’s Carl Quintanilla asked Juul’s Kevin Burns what he would say to a parent with a child who was addicted to Juul.

“First of all, I’d tell them that I’m sorry that their child’s using the product,” said Burns. “It’s not intended for them. I hope there was nothing that we did that made it appealing to them. As a parent of a 16-year-old, I’m sorry for them, and I have empathy for them, in terms of what the challenges they’re going through.”


Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: angelica lavito
Keywords: news, cnbc, companies, monsees, congressional, juul, told, role, products, smoking, defends, ecigarette, juuls, cigarettes, company, vaping, teen, tobacco, epidemic, hearing, startup, product


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

‘I’ll invest in it’: Anthony Scaramucci defends Jared Kushner’s Middle East peace plan

Anthony Scaramucci, was Donald Trump’s White House communications director briefly in 2017. AFP Contributor | AFP | Getty ImagesPresident Donald Trump’s son-in-law Jared Kushner has presented a $50 billion investment plan for economic growth and peace in the Middle East that has been greeted with skepticism, but not in all quarters. “We will definitely be investors in this, investors in the region,” former White House Communications Director Anthony Scaramucci told CNBC’s Hadley Gamble in Manama


Anthony Scaramucci, was Donald Trump’s White House communications director briefly in 2017. AFP Contributor | AFP | Getty ImagesPresident Donald Trump’s son-in-law Jared Kushner has presented a $50 billion investment plan for economic growth and peace in the Middle East that has been greeted with skepticism, but not in all quarters. “We will definitely be investors in this, investors in the region,” former White House Communications Director Anthony Scaramucci told CNBC’s Hadley Gamble in Manama
‘I’ll invest in it’: Anthony Scaramucci defends Jared Kushner’s Middle East peace plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: holly ellyatt
Keywords: news, cnbc, companies, jared, economic, middle, political, defends, white, palestine, east, house, peace, invest, scaramucci, ill, billion, investment, kushners, plan


'I'll invest in it': Anthony Scaramucci defends Jared Kushner's Middle East peace plan

Anthony Scaramucci, was Donald Trump’s White House communications director briefly in 2017. AFP Contributor | AFP | Getty Images

President Donald Trump’s son-in-law Jared Kushner has presented a $50 billion investment plan for economic growth and peace in the Middle East that has been greeted with skepticism, but not in all quarters. “We will definitely be investors in this, investors in the region,” former White House Communications Director Anthony Scaramucci told CNBC’s Hadley Gamble in Manama, Bahrain, Wednesday. Scaramucci, who is also the founder of global investment firm Skybridge Capital, said his investment would “probably be more on the fixed income side,” adding that he was “very excited about it.” Kushner, who is also a senior advisor for the White House, kicked off a U.S.-led two-day “Peace to Prosperity” workshop in Bahrain aimed at fostering Arab-Israeli peace and economic development by presenting an investment plan for the region. There is little mention of the many significant hurdles to economic growth — namely, the political impasse between Israel and Palestine. No mention is made in the peace plan of the thorny issue of Palestinian statehood, for example. But the proposal envisages the creation of a $50 billion investment fund to boost jobs and growth in Palestine and its neighboring economies. It foresees 179 infrastructure and business projects in the region, including a $5 billion transportation corridor to connect the West Bank and Gaza. More than half of the $50 billion proposed — envisaged as loans, grants and private investment — would be spent in Palestine over the next 10 years.

“Talking to some of the White House people last night that are close personal friends, if you think the details are great on the economic side (of the plan), wait ’til you see the unveiling of the political plan,” Scaramucci told CNBC, adding that he was yet to personally see the political proposals. “My friends inside the White House are telling me that the political plan is equally detailed and in-depth and there’s a lot of stuff in there for the Palestinians. I know the president very well, and he put some chips on the table for the Israelis like the movement of the (U.S.) embassy to Jerusalem … But he’s going to want to make sure that the Palestinians win at the table as well.” No officials from either the Palestinian or Israeli government are attending the summit; Palestinian officials boycotted the summit and the U.S. did not then invite Israeli government officials for balance. The White House has yet to present its plans for a political solution to the long-running conflict between Israel and Palestine — these are expected later this year. Scaramucci, who was fired from his role as White House communications director after just 10 days in the role in 2017, asked people to “dial down elements of their cynicism,” and he praised Trump’s son-in-law Kushner for the plan. “I want people to step back and be a little less cynical. Look at the details in the plan,” he said.

‘Very realistic’


Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: holly ellyatt
Keywords: news, cnbc, companies, jared, economic, middle, political, defends, white, palestine, east, house, peace, invest, scaramucci, ill, billion, investment, kushners, plan


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Mnuchin defends Kushner’s $50 billion plan for the Middle East

Treasury Secretary Steven Mnuchin defended accusations that a U.S.-drafted economic solution to bring about Israeli-Palestinian peace has little chance of success. President Donald Trump’s son-in-law and White House senior advisor, Jared Kushner, chaired a “peace to prosperity” workshop in Bahrain this week, based on a plan to spend as much as $50 billion on investments in the Palestinian territories as well as neighboring areas such as Jordan and Lebanon. Ahead of the event, Palestinian Authori


Treasury Secretary Steven Mnuchin defended accusations that a U.S.-drafted economic solution to bring about Israeli-Palestinian peace has little chance of success. President Donald Trump’s son-in-law and White House senior advisor, Jared Kushner, chaired a “peace to prosperity” workshop in Bahrain this week, based on a plan to spend as much as $50 billion on investments in the Palestinian territories as well as neighboring areas such as Jordan and Lebanon. Ahead of the event, Palestinian Authori
Mnuchin defends Kushner’s $50 billion plan for the Middle East Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: david reid
Keywords: news, cnbc, companies, week, east, mnuchin, defends, plan, billion, palestinian, peace, world, 50, white, middle, bahrain, workshop, kushners


Mnuchin defends Kushner's $50 billion plan for the Middle East

Treasury Secretary Steven Mnuchin defended accusations that a U.S.-drafted economic solution to bring about Israeli-Palestinian peace has little chance of success.

President Donald Trump’s son-in-law and White House senior advisor, Jared Kushner, chaired a “peace to prosperity” workshop in Bahrain this week, based on a plan to spend as much as $50 billion on investments in the Palestinian territories as well as neighboring areas such as Jordan and Lebanon.

Ahead of the event, Palestinian Authority President Mahmoud Abbas, claimed that “nobody will live along enough to see this $50 billion,” adding: “We are used to this nonsense, let us not listen to endless lies.”

Representatives from private investors, the World Bank and Intentional Monetary Fund have gathered in Bahrain but no officials from either the Palestinian or Israeli government are attending the summit.

“My view from that last 18 hours here is really this has gone quite successful,” Mnuchin told CNBC’s Hadley Gamble in Manama, Bahrain, Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: david reid
Keywords: news, cnbc, companies, week, east, mnuchin, defends, plan, billion, palestinian, peace, world, 50, white, middle, bahrain, workshop, kushners


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Executive director of Puerto Rico’s Oversight Board defends proposed restructuring deal

The executive director of Puerto Rico’s Oversight Board is standing by the restructuring agreement that it reached with a portion of bondholders to address $35 billion of Puerto Rico’s debt, despite the island’s government and a key creditor saying they will not sign on to the deal. The Plan Support Agreement has the support of creditors who hold approximately $3 billion in total of the island’s constitutionally guaranteed claims. However, the government of Puerto Rico and Assured Guaranty, a mo


The executive director of Puerto Rico’s Oversight Board is standing by the restructuring agreement that it reached with a portion of bondholders to address $35 billion of Puerto Rico’s debt, despite the island’s government and a key creditor saying they will not sign on to the deal. The Plan Support Agreement has the support of creditors who hold approximately $3 billion in total of the island’s constitutionally guaranteed claims. However, the government of Puerto Rico and Assured Guaranty, a mo
Executive director of Puerto Rico’s Oversight Board defends proposed restructuring deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: dawn giel leslie picker, dawn giel, leslie picker
Keywords: news, cnbc, companies, executive, restructuring, ricos, director, board, oversight, agreement, puerto, proposed, creditors, defends, rico, guaranty, support, jaresko, deal


Executive director of Puerto Rico's Oversight Board defends proposed restructuring deal

The executive director of Puerto Rico’s Oversight Board is standing by the restructuring agreement that it reached with a portion of bondholders to address $35 billion of Puerto Rico’s debt, despite the island’s government and a key creditor saying they will not sign on to the deal.

The agreement, which was unveiled late on Sunday, is on the framework for the plan of adjustment and would slash the amount of Commonwealth related bonds outstanding by more than 60% to less than $12 billion.

“I believe this is part of a process and you have to begin somewhere and you have to reach an agreement with some group, which we’ve done with the groups that were announced yesterday,” Natalie Jaresko told CNBC’s Leslie Picker in an exclusive interview. “And now that it’s become public, we are very eager, willing to continue these discussions with all the other groups of creditors as well as the bond insurers,” Jaresko said.

The Plan Support Agreement has the support of creditors who hold approximately $3 billion in total of the island’s constitutionally guaranteed claims. However, the government of Puerto Rico and Assured Guaranty, a monoline insurer that has $1.5 billion of net par exposure to the bonds covered in the proposed deal, have rejected the deal.

“This ‘deal,’ backed by barely 10 percent of Commonwealth guaranteed and GO creditors, who bought positions at prices substantially below par, failed to include the largest general obligation creditors who have supported Puerto Rico for decades, and is a disservice to the residents and long term stakeholders of the island,” Assured Guaranty said in a written statement provided to CNBC.

When asked about this point, Jaresko said “I don’t think we should look at it as 90% of them not signing on, in the sense that there are different classes and different interests and you have to look at each class individually.” Jaresko, who was appointed executive director of the Oversight Board in March 2017, continued by saying the group of bondholders that have signed on to the proposed deal account for “a significant amount” and believes that making the deal public last night will help build further creditor support.

Almost immediately following the release of the proposed deal, the government of Puerto Rico issued a statement rejecting the deal, citing the administration’s strong opposition to any cuts to retiree’s benefits.

“The government of Puerto Rico seems determined to not support this agreement though this agreement provides for sustainable, affordable debt and secures pensions,” Jaresko said. “They seem to be determined regardless of whether it’s in the interest of the Commonwealth or not….this agreement focuses and assures the single most important thing that current and future administrations do not undermine again the financial stability of the pension system.”

Assured Guaranty also stated that the company could not support “an agreement that would prolong expensive litigation, while harming Puerto Rico’s long-term economic success and the national municipal bond market.”

Jaresko, who is anticipating the plans of adjustment to be filed within thirty days, does note that the proposed terms of the plan of adjustment are not set in stone and says, “there can be amendments going forward.”

“There’s still quite a bit of room to work with bondholders here to bring in additional classes, and to reach an even more consensual agreement,” Jaresko said.

Assured Guaranty says that the company “continues to encourage the start of negotiations among Puerto Rico’s most important stakeholders,” but warns the Oversight Board that it is prepared “to litigate this to the fullest extent to protect our rights, those of municipal bond investors, and the rule of law.”

“I look forward to working with the other groups of creditors to bring this to a close as soon as possible,” Jaresko said.


Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: dawn giel leslie picker, dawn giel, leslie picker
Keywords: news, cnbc, companies, executive, restructuring, ricos, director, board, oversight, agreement, puerto, proposed, creditors, defends, rico, guaranty, support, jaresko, deal


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

YouTube CEO says ‘sorry,’ but defends hosting videos with homophobic slurs

YouTube CEO Susan Wojcicki speaks during the opening keynote address at the Google I/O 2017 Conference at Shoreline Amphitheater on May 17, 2017 in Mountain View, California. Maza said that he has been the subject of targeted harassment for years that included both anti-gay and anti-Mexican slurs. But, she added, YouTube looked at the videos in question, “and in the end, we decided it was not violative of our policy.” Wojcicki said that YouTube has a “high bar” for what counts as malicious mater


YouTube CEO Susan Wojcicki speaks during the opening keynote address at the Google I/O 2017 Conference at Shoreline Amphitheater on May 17, 2017 in Mountain View, California. Maza said that he has been the subject of targeted harassment for years that included both anti-gay and anti-Mexican slurs. But, she added, YouTube looked at the videos in question, “and in the end, we decided it was not violative of our policy.” Wojcicki said that YouTube has a “high bar” for what counts as malicious mater
YouTube CEO says ‘sorry,’ but defends hosting videos with homophobic slurs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: dylan byers, david ingram
Keywords: news, cnbc, companies, homophobic, hosting, videos, harassment, conference, ceo, youtubes, defends, susan, slurs, youtube, sorry, wojcicki, services


YouTube CEO says 'sorry,' but defends hosting videos with homophobic slurs

YouTube CEO Susan Wojcicki speaks during the opening keynote address at the Google I/O 2017 Conference at Shoreline Amphitheater on May 17, 2017 in Mountain View, California.

SCOTTSDALE, Arizona — YouTube’s chief executive apologized on Monday for the hurt she said is caused by videos with anti-gay slurs, but said the company was right to let the videos remain on its service.

CEO Susan Wojcicki, in an on-stage interview at the tech-focused Code Conference in Scottsdale, Arizona, spoke publicly for the first time since YouTube last week imposed a stricter ban on hate speech, including videos that promote ideas of racial superiority.

But rather than being lauded for tackling Nazism, Wojcicki was met with a barrage of questions about videos she has decided to leave up. The questions were prompted by journalist Carlos Maza launching a campaign last month to bring attention to homophobic abuse and harassment he says he received from a conservative YouTube personality.

Maza said that he has been the subject of targeted harassment for years that included both anti-gay and anti-Mexican slurs. Several activists are lobbying to ban YouTube’s parent company, Google, from the San Francisco Pride march this month over what they see as the service’s inaction.

“I know the decision we made was very hurtful to the LGBTQ community,” Wojcicki said. “That was not our intention at all. We’re really sorry about that.”

But, she added, YouTube looked at the videos in question, “and in the end, we decided it was not violative of our policy.”

“I do agree this was the right decision,” she said.

More from NBC News:

‘Our bodies, our choice’: N.Y. bill would decriminalize sex work

U.S. Customs says traveler images exposed in cyberattack

Deadly New York helicopter crash brings ‘a level of PTSD from 9/11’

Wojcicki, a high-profile Silicon Valley executive, faced a skeptical crowd at the annual conference for tech and media professionals. When Ina Fried, a journalist from Axios, suggested during a question-and-answer period that Wojcicki wasn’t actually sorry, the audience greeted the question with applause.

YouTube, like Facebook and other online services that rely on users for content, is facing growing scrutiny over material that shows violence, promotes hatred or is objectionable in other ways. The service’s rulebook bans harassment, for example, but only when it is “malicious.”

Wojcicki said that YouTube has a “high bar” for what counts as malicious material, and that the service faced a challenge in being consistent. She said the same rules needed to apply across the board, including to late-night comedy shows or rap music videos.


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: dylan byers, david ingram
Keywords: news, cnbc, companies, homophobic, hosting, videos, harassment, conference, ceo, youtubes, defends, susan, slurs, youtube, sorry, wojcicki, services


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

‘We have all these tools’: Mnuchin defends using punishing tariffs to solve security problems

Speaking to CNBC’s Nancy Hungerford in Fukuoka, Japan, Mnuchin defended the president’s mixing of trade and non-trade issues — something that’s drawn criticism from outside commentators. Asked if trade could again be used as a weapon in non-trade disputes, Mnuchin said, “I think it’s very important that we have all these tools, that we use them. And President Trump has really done a great job at using these tools.” Mnuchin stressed that Washington’s ongoing campaign against telecommunications be


Speaking to CNBC’s Nancy Hungerford in Fukuoka, Japan, Mnuchin defended the president’s mixing of trade and non-trade issues — something that’s drawn criticism from outside commentators. Asked if trade could again be used as a weapon in non-trade disputes, Mnuchin said, “I think it’s very important that we have all these tools, that we use them. And President Trump has really done a great job at using these tools.” Mnuchin stressed that Washington’s ongoing campaign against telecommunications be
‘We have all these tools’: Mnuchin defends using punishing tariffs to solve security problems Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-09  Authors: natasha turak
Keywords: news, cnbc, companies, punishing, using, tariffs, problems, security, tools, mnuchin, trump, solve, trade, president, nontrade, defends, issues, american, secretary


'We have all these tools': Mnuchin defends using punishing tariffs to solve security problems

The White House has had no problem leveraging American economic heft to bring other countries to heel on issues that aren’t related to the economy — and it may continue to do so, Treasury Secretary Steven Mnuchin indicated to CNBC on Sunday.

Markets have been on edge in recent weeks as U.S. President Donald Trump threatened Mexico with tariffs unless it vowed new assistance on immigration issues, and suggested that he was willing to link trade talks with Beijing to American security concerns around Chinese tech giant Huawei.

Speaking to CNBC’s Nancy Hungerford in Fukuoka, Japan, Mnuchin defended the president’s mixing of trade and non-trade issues — something that’s drawn criticism from outside commentators.

Asked if trade could again be used as a weapon in non-trade disputes, Mnuchin said, “I think it’s very important that we have all these tools, that we use them. And President Trump has really done a great job at using these tools.”

The secretary was referring, in particular, to the threat of tariffs on Mexico over its role in Central American migration as well as the increasing tariffs imposed on China in an attempt to address the U.S.-China trade deficit and curb what the administration calls Beijing’s “unfair” trade practices.

Mnuchin stressed that Washington’s ongoing campaign against telecommunications behemoth Huawei is a national security issue, not a trade-related one. But he added that Trump may soften the stiff restrictions that the U.S. has slapped on the Shenzhen-based company after feeling satisfied on the trade issue.


Company: cnbc, Activity: cnbc, Date: 2019-06-09  Authors: natasha turak
Keywords: news, cnbc, companies, punishing, using, tariffs, problems, security, tools, mnuchin, trump, solve, trade, president, nontrade, defends, issues, american, secretary


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump defends tax tactics after NYT probe says he racked up more than $1 billion in losses: ‘It was sport’

“You always wanted to show losses for tax purposes….almost all real estate developers did – and often re-negotiate with banks, it was sport,” Trump said in a pair of early morning tweets. It said it obtained Trump’s tax information, including printouts from his official IRS tax transcripts, for 1985 through 1994. The newspaper said data culled from printouts of Trump’s IRS receipts showed he lost money every year during the 10-year period, for a cumulative $1.17 billion loss overall. Every pre


“You always wanted to show losses for tax purposes….almost all real estate developers did – and often re-negotiate with banks, it was sport,” Trump said in a pair of early morning tweets. It said it obtained Trump’s tax information, including printouts from his official IRS tax transcripts, for 1985 through 1994. The newspaper said data culled from printouts of Trump’s IRS receipts showed he lost money every year during the 10-year period, for a cumulative $1.17 billion loss overall. Every pre
Trump defends tax tactics after NYT probe says he racked up more than $1 billion in losses: ‘It was sport’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: mike calia
Keywords: news, cnbc, companies, sport, times, racked, losses, trump, billion, trumps, returns, presidents, information, defends, tactics, irs, nyt, real, probe, tax


Trump defends tax tactics after NYT probe says he racked up more than $1 billion in losses: 'It was sport'

President Donald Trump on Wednesday fired back at The New York Times over the newspaper’s investigative report that said his tax figures from 1985 through 1994 showed staggering business losses of more than $1 billion.

“You always wanted to show losses for tax purposes….almost all real estate developers did – and often re-negotiate with banks, it was sport,” Trump said in a pair of early morning tweets. “Additionally, the very old information put out is a highly inaccurate Fake News hit job!”

The Times published the report Tuesday night. It said it obtained Trump’s tax information, including printouts from his official IRS tax transcripts, for 1985 through 1994. Trump’s book, “Trump: The Art of the Deal,” was published in 1987.

The newspaper said data culled from printouts of Trump’s IRS receipts showed he lost money every year during the 10-year period, for a cumulative $1.17 billion loss overall. The Times also said Trump didn’t pay income taxes during eight of those 10 years.

Trump apparently lost more money than any other individual taxpayer in the U.S., according to the Times’ analysis of data the IRS has compiled on people earning large incomes.

Trump, however, suggested that his “tax shelter” tactics were par for the course in the 1980s and 1990s, saying in his Wednesday morning tweets that real estate developers like him “were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases.”

He added: “Much was non monetary.”

Trump, who rose to national fame in the 1980s as a New York real estate magnate with a tabloid lifestyle, has refused to release his tax returns, citing an ongoing IRS audit. Every president since Richard Nixon has made their tax returns publicly available, and Democrats have used the issue to hammer and investigate Trump. Experts have said audits haven’t stopped presidents from releasing their returns.

On Monday, Treasury Secretary Steven Mnuchin declined to allow the IRS to release Trump’s tax information to Congress after the Ways and Means Committee in the Democrat-controlled House sought six years of the president’s returns.

Trump and his aides have repeatedly said that the American public does not care about the president’s tax returns since he won the 2016 election without having made them public. Polls have shown, however, that most voters do want Trump to divulge his tax records.

A previous Times investigation in October detailed Trump’s murky business dealings, “including instances of outright fraud.”


Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: mike calia
Keywords: news, cnbc, companies, sport, times, racked, losses, trump, billion, trumps, returns, presidents, information, defends, tactics, irs, nyt, real, probe, tax


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Citigroup CEO Corbat defends bank’s pay gap: `I started in 1983 at $17,000 salary’

The pay gap at Citigroup, led by Corbat since 2012, is the biggest among large U.S. banks. Corbat made $24.2 million last year, 486 times the median employee pay of $49,766. While other bank CEOs had similar paydays, higher median pay at Bank of America and J.P. Morgan Chase meant that Citigroup had the most extreme ratio. For instance, Disney CEO Bob Iger made 1,424 times the median pay of his employees, prompting Abigail Disney to call his compensation “insane.” Corbat, along with other bank C


The pay gap at Citigroup, led by Corbat since 2012, is the biggest among large U.S. banks. Corbat made $24.2 million last year, 486 times the median employee pay of $49,766. While other bank CEOs had similar paydays, higher median pay at Bank of America and J.P. Morgan Chase meant that Citigroup had the most extreme ratio. For instance, Disney CEO Bob Iger made 1,424 times the median pay of his employees, prompting Abigail Disney to call his compensation “insane.” Corbat, along with other bank C
Citigroup CEO Corbat defends bank’s pay gap: `I started in 1983 at $17,000 salary’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: hugh son
Keywords: news, cnbc, companies, 1983, corbat, ceo, employee, bank, gap, banks, pay, started, citigroup, compensation, workers, salary, defends, employees, median


Citigroup CEO Corbat defends bank's pay gap: `I started in 1983 at $17,000 salary'

Michael Corbat defended the huge compensation gap between low-level employees and top management at Citigroup, saying it should inspire the rank-and-file workers who could someday fill his shoes.

“My answer is I am that person,” Corbat said Thursday on CNBC’s “Squawk on the Street. ” “I started at our firm in 1983 at $17,000 a year.”

The pay gap at Citigroup, led by Corbat since 2012, is the biggest among large U.S. banks. Corbat made $24.2 million last year, 486 times the median employee pay of $49,766. While other bank CEOs had similar paydays, higher median pay at Bank of America and J.P. Morgan Chase meant that Citigroup had the most extreme ratio.

That comparison is unfair to Citigroup because of the employees the bank has in places like Mexico and the Philippines, where compensation is low, he said. Excluding those workers, the “average employee in the U.S. makes right about $100,000 a year,” he said.

Income inequality at large U.S. corporations is a hot-button issue ahead of the 2020 U.S. elections. The pay ratio is even more extreme outside of banking, in industries like retail, food and entertainment. For instance, Disney CEO Bob Iger made 1,424 times the median pay of his employees, prompting Abigail Disney to call his compensation “insane.”

Corbat, along with other bank CEOs, was grilled last month by U.S. lawmakers over the pay gap at their institutions.

“If you were an employee, and you saw your boss making $486 for every dollar you make, how would you feel about that?” Rep. Nydia Velazquez of New York asked Corbat on April 10.

Echoing his answer then, Corbat added Thursday that “through the grace of God, through hard work, I got to where I am. So I am that person that looked up and said maybe if I work hard enough I can get there.”

Shares of Citigroup have climbed 35% this year as the stock recovered from a sharp decline in December. The New York-based bank posted mixed first-quarter results last month amid a sharp decline in equities trading.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: hugh son
Keywords: news, cnbc, companies, 1983, corbat, ceo, employee, bank, gap, banks, pay, started, citigroup, compensation, workers, salary, defends, employees, median


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post