Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th


Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


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Amazon’s HQ2 in Queens will be ‘square in the danger zone for frequent flooding’

It gets warmer, it means the air can hold more moisture and we get bigger downpours,” said Strauss of Climate Central. From 2005 to 2014, Queens saw an additional 31 days of coastal flooding due to climate change, researchers say. Long Island City is already becoming a hot spot for New York City, and Amazon will speed that change exponentially. New York City is also running out of large spaces for developments like this one, which likely played into the choice. Like other waterfront buildings, t


It gets warmer, it means the air can hold more moisture and we get bigger downpours,” said Strauss of Climate Central. From 2005 to 2014, Queens saw an additional 31 days of coastal flooding due to climate change, researchers say. Long Island City is already becoming a hot spot for New York City, and Amazon will speed that change exponentially. New York City is also running out of large spaces for developments like this one, which likely played into the choice. Like other waterfront buildings, t
Amazon’s HQ2 in Queens will be ‘square in the danger zone for frequent flooding’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: diana olick, eduardo munoz, yana paskova, the washington post, getty images
Keywords: news, cnbc, companies, frequent, amazons, plans, continue, danger, york, city, expect, square, queens, zone, climate, strauss, likely, flooding, hq2, headquarters


Amazon's HQ2 in Queens will be 'square in the danger zone for frequent flooding'

“And the truth is, heavy rain has already increased by 50 percent in the Northeast. So we can expect that trend to continue. It gets warmer, it means the air can hold more moisture and we get bigger downpours,” said Strauss of Climate Central.

From 2005 to 2014, Queens saw an additional 31 days of coastal flooding due to climate change, researchers say. If Queens experienced a 6-foot flood, which scientists expect by the end of this century, that would put $13 billion worth of property at risk of damage, including about 34,000 homes, according to Climate Central and Zillow.

Companies and residential developers continue to build on the water because that is simply where people want to live and work. Long Island City is already becoming a hot spot for New York City, and Amazon will speed that change exponentially. New York City is also running out of large spaces for developments like this one, which likely played into the choice.

Amazon is more than likely considering all these risks as it plans its new headquarters, although a spokesman for the company said they could not comment on any plans. Like other waterfront buildings, the new headquarters will have to be built as a stronghold — resilient against weather and water.

“But then you have to ask how easy will it be to get to and from their headquarters, what’s happening to the surrounding neighborhood? And they’re going to need the city’s help to fortify the whole area,” Strauss said.


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: diana olick, eduardo munoz, yana paskova, the washington post, getty images
Keywords: news, cnbc, companies, frequent, amazons, plans, continue, danger, york, city, expect, square, queens, zone, climate, strauss, likely, flooding, hq2, headquarters


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US Christmas sales predicted to surpass $1 trillion for the first time this year

Christmas holiday retail sales in the U.S. are expected to climb above the $1 trillion mark for the first time this year, on the back of low unemployment, solid income growth and higher consumer confidence, according to a study released Tuesday. The report comes amid concerns over the future of brick-and-mortar retailers, with the likes of Sears and Toys ‘R’ Us facing bankruptcy — although the latter’s lenders recently cancelled a bankruptcy auction and plans to revive the brand. E-commerce cont


Christmas holiday retail sales in the U.S. are expected to climb above the $1 trillion mark for the first time this year, on the back of low unemployment, solid income growth and higher consumer confidence, according to a study released Tuesday. The report comes amid concerns over the future of brick-and-mortar retailers, with the likes of Sears and Toys ‘R’ Us facing bankruptcy — although the latter’s lenders recently cancelled a bankruptcy auction and plans to revive the brand. E-commerce cont
US Christmas sales predicted to surpass $1 trillion for the first time this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-06  Authors: ryan browne, getty images, eduardo munoz
Keywords: news, cnbc, companies, holiday, brickandmortar, amazon, surpass, retail, market, retailers, sales, emarketer, predicted, industry, christmas, stores, trillion


US Christmas sales predicted to surpass $1 trillion for the first time this year

Christmas holiday retail sales in the U.S. are expected to climb above the $1 trillion mark for the first time this year, on the back of low unemployment, solid income growth and higher consumer confidence, according to a study released Tuesday.

Total retail sales in the U.S. will hit $1.002 trillion during the holiday period — which it defines as spanning November 1 and December 31 this year — an increase of almost 6 percent from the previous year, marking the “strongest growth since 2011,” data from market research firm eMarketer showed.

The report comes amid concerns over the future of brick-and-mortar retailers, with the likes of Sears and Toys ‘R’ Us facing bankruptcy — although the latter’s lenders recently cancelled a bankruptcy auction and plans to revive the brand.

Not to mention the fact that several retailers are closing hundreds of stores across the country as the threat of increased competition from e-commerce firms like Amazon and eBay continues to put pressure on the industry. On Monday, home improvement chain Lowe’s said it would shutter 51 underperforming stores across the U.S. and Canada.

The research said the sector would see a 4.4 percent gain year-on-year in in-store sales, rising to $878.38 billion, and that brick-and-mortar would be a “bright spot” for the retail industry as a whole for the 2018 Christmas holiday period.

“While e-commerce will continue to see strong double-digit gains, brick-and-mortar retail should be a particular bright spot this holiday season,” Andrew Lipsman, principal analyst at eMarketer, said in a statement Tuesday.

“Not every brick-and-mortar retailer is thriving, and several have shut their doors this year, but others are really capitalizing on the strong consumer economy. Retailers are luring in shoppers with remodeled stores, streamlined checkout and options to buy online, pick up in-store.”

E-commerce continues to grow in market share, however, and will capture 12.3 percent of the total sales figure this year, according to eMarketer. Online retail sales are predicted to rise 16.6 percent from the previous year, to $123.73 billion, the study said.

Cindy Liu, forecasting analyst at eMarketer, said the main “battle” for U.S. retailers would be gaining market share in the e-tail space. “We should expect more promotions and perks like free and fast shipping, as retailers compete against Amazon,” she said in a statement.

Indeed, on Monday, Amazon made an early move to up the pressure on the industry for this year’s holiday season, dropping minimum purchase requirements on all orders, which means all of its customers will qualify for free shipping for a limited period.

WATCH:The rise and fall of Toys R Us


Company: cnbc, Activity: cnbc, Date: 2018-11-06  Authors: ryan browne, getty images, eduardo munoz
Keywords: news, cnbc, companies, holiday, brickandmortar, amazon, surpass, retail, market, retailers, sales, emarketer, predicted, industry, christmas, stores, trillion


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AIG sees third-quarter catastrophe losses of $1.5 billion to $1.7 billion

Insurer American International Group said on Thursday it expects third-quarter pre-tax catastrophe losses, net of reinsurance, of between $1.5 billion and $1.7 billion. “These losses are largely associated with multiple events in Japan, including Typhoons Jebi and Trami, as well as Hurricane Florence and revisions to our loss estimates on the California mudslides,” AIG said in a statement. AIG shares fell about 4 percent in extended trading.


Insurer American International Group said on Thursday it expects third-quarter pre-tax catastrophe losses, net of reinsurance, of between $1.5 billion and $1.7 billion. “These losses are largely associated with multiple events in Japan, including Typhoons Jebi and Trami, as well as Hurricane Florence and revisions to our loss estimates on the California mudslides,” AIG said in a statement. AIG shares fell about 4 percent in extended trading.
AIG sees third-quarter catastrophe losses of $1.5 billion to $1.7 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: eduardo munoz
Keywords: news, cnbc, companies, aig, 15, trading, statementaig, revisions, trami, losses, sees, shares, catastrophe, reinsurance, typhoons, pretax, thirdquarter, billion, 17


AIG sees third-quarter catastrophe losses of $1.5 billion to $1.7 billion

Insurer American International Group said on Thursday it expects third-quarter pre-tax catastrophe losses, net of reinsurance, of between $1.5 billion and $1.7 billion.

“These losses are largely associated with multiple events in Japan, including Typhoons Jebi and Trami, as well as Hurricane Florence and revisions to our loss estimates on the California mudslides,” AIG said in a statement.

AIG shares fell about 4 percent in extended trading.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: eduardo munoz
Keywords: news, cnbc, companies, aig, 15, trading, statementaig, revisions, trami, losses, sees, shares, catastrophe, reinsurance, typhoons, pretax, thirdquarter, billion, 17


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Michaels expands kids’ crafting section in bid to win sales left behind by Toys R Us

Toys R Us had accounted for about 15 to 20 percent of all U.S. toy sales last year. Many companies, including Walmart, have already laid out strategies to capture those sales — even retailers that aren’t typically known for their toy sales. Sales in the segment Michaels is focusing on — arts and craft toys — were up 8 percent between January and July, according NPD Group. But as the trend grew more popular, companies rushed in with their own slime craft kits, bumping up sales of the category. Ru


Toys R Us had accounted for about 15 to 20 percent of all U.S. toy sales last year. Many companies, including Walmart, have already laid out strategies to capture those sales — even retailers that aren’t typically known for their toy sales. Sales in the segment Michaels is focusing on — arts and craft toys — were up 8 percent between January and July, according NPD Group. But as the trend grew more popular, companies rushed in with their own slime craft kits, bumping up sales of the category. Ru
Michaels expands kids’ crafting section in bid to win sales left behind by Toys R Us Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-27  Authors: sarah whitten, scott mcintyre, bloomberg, getty images, eduardo munoz
Keywords: news, cnbc, companies, win, crafting, sales, slime, left, retailers, stores, expands, michaels, toys, toy, kids, kits, craft, bid


Michaels expands kids' crafting section in bid to win sales left behind by Toys R Us

Arts and craft supplier Michaels is entering the land grab for Toys R Us’ market share.

Hundreds of stores went dark earlier this year when Toys R Us liquidated, leaving a window for other retailers to step in and court the toy retailer’s former customers. Toys R Us had accounted for about 15 to 20 percent of all U.S. toy sales last year. Many companies, including Walmart, have already laid out strategies to capture those sales — even retailers that aren’t typically known for their toy sales.

Michaels, which has seen its stock drop more than 30 percent this year to a multiyear low, is hoping to entice parents of young crafters, builders and burgeoning artists with a robust selection of nonelectronic products and crafting materials. The company is making some major changes to the kids’ sections of its stores, including stocking the aisles with more than 600 new items and partnering with brands to get exclusive access to some products.

“We call it creative play,” CEO Chuck Rubin told CNBC. “It’s kind of a variation of the toy market.”

For Michaels, it’s all about kids making their own projects — think jewelry-making kits, clay and painting supplies. If the store stocks a product with a licensed brands like “Star Wars” or “My Little Pony,” kids usually have to assemble the item before they can play with it. They’ve added Legos. Typically, the only items that run on batteries are part of its S.T.E.M. selection. These products foster skills in science, technology, engineering and mathematics and include robotics kits, circuit builders and coding toys.

Sales in the segment Michaels is focusing on — arts and craft toys — were up 8 percent between January and July, according NPD Group. This spike in sales is largely due to the dollar growth of craft kits, which were up 13 percent. In the same time period last year, sales of these craft kits were down 11 percent mostly due to the increased popularity of slime products.

Slime enthusiasts initially had to buy all of their ingredients separately for their projects. But as the trend grew more popular, companies rushed in with their own slime craft kits, bumping up sales of the category.

Rubin said slime continues to be popular, and Michaels carries slime kits and individual materials.

In addition, Michaels has lined up a number of products that can’t be found at any other retailers. This is a common tactic among toy sellers around the holiday season. Offering unique items can draw more people into stores, who often shop for other things while they are there.

Michaels is adjusting store layouts to more clearly define where shoppers can find products for kids, and its website will make it easier to shop for kid-friendly crafts. The retailer will continue to hold crafting events in its stores to lure parents and children. Last year, the company hosted more than 120 such events and had more than 1 million kids participate.

That should help set Michaels apart from others trying to get a bigger share of holiday sales. For example, Party City — not a traditional toy retailer — is opening 50 Toy City stores for the holidays, which will sit alongside its Halloween pop-up shops. The company also said it plans to permanently add more toys to its Party City locations.

Kohl’s, Five Below and J.C. Penney are just a few other businesses that have already said they plan to sell more toys this year.

Holiday sales in the U.S. are projected to be strong this year. Deloitte, for example, estimates sales will rise 5 to 5.6 percent this year, helped by a strong economy and low unemployment. If Michaels can grab a bigger share, it will provide a much-needed boost. In its latest quarter, sales at stores open at least 12 months fell 0.4 percent.

“We are very focused on kids, it is one of our core categories,” Rubin said. “It’s not so much of a toy business, but we think given the strength that we have in [the category] and the dislocation of the market, there is a nice piece of the business we can pick up.”

WATCH: The rise and fall of Toys R Us


Company: cnbc, Activity: cnbc, Date: 2018-09-27  Authors: sarah whitten, scott mcintyre, bloomberg, getty images, eduardo munoz
Keywords: news, cnbc, companies, win, crafting, sales, slime, left, retailers, stores, expands, michaels, toys, toy, kids, kits, craft, bid


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Another retailer lands a deal with Amazon: This time, it’s Party City

This time, it’s Party City. Party City will offer an assortment of items on Amazon to start, but with a big focus on Halloween costumes, the company said. Party City CEO James Harrison said the company’s goal with the Amazon pilot is to reach customers who are increasingly gravitating toward shopping online, including millennials. In the wake of Toys R Us’ demise, Party City is also making a bigger push into the toy category and plans to open 50 Toy City pop-up stores ahead of the holidays. Part


This time, it’s Party City. Party City will offer an assortment of items on Amazon to start, but with a big focus on Halloween costumes, the company said. Party City CEO James Harrison said the company’s goal with the Amazon pilot is to reach customers who are increasingly gravitating toward shopping online, including millennials. In the wake of Toys R Us’ demise, Party City is also making a bigger push into the toy category and plans to open 50 Toy City pop-up stores ahead of the holidays. Part
Another retailer lands a deal with Amazon: This time, it’s Party City Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-09  Authors: lauren thomas, dorann weber, getty images, eduardo munoz, xinhua, ju peng, odd anderson, afp, axelle bauer-griffin
Keywords: news, cnbc, companies, sales, share, amazon, million, cents, city, program, retailer, party, deal, billion, lands


Another retailer lands a deal with Amazon: This time, it's Party City

Another retailer is tying itself up with Amazon. This time, it’s Party City.

In tandem with reporting second-quarter earnings, the retailer on Thursday said it would be rolling out a pilot program on Amazon ahead of the Halloween season this year. Party City will offer an assortment of items on Amazon to start, but with a big focus on Halloween costumes, the company said.

Just within the past year, a number of brands have announced similar initiatives, partnering with the e-commerce giant that is taking a larger and larger share of retail sales online. That list of companies now includes Sears Holdings, Nike, Chico’s, Calvin Klein and Carter’s, to name a few.

Halloween meanwhile is Party City’s biggest selling season, and consumer spending across the U.S. on Halloween-related merchandise continues to climb. Spending on items like costumes, candy and pumpkins reached a record $9.1 billion in 2017, according to an annual survey by the National Retail Federation. That was up more than 8 percent from a previous record of $8.4 billion in 2016.

Party City CEO James Harrison said the company’s goal with the Amazon pilot is to reach customers who are increasingly gravitating toward shopping online, including millennials.

“[T]he program also creates an additional channel of distribution that allows us to leverage our dynamic manufacturing and distribution capabilities,” he said in a statement. Party City will continue to run its own website.

The party goods retailer said it expects the pilot program will eventually expand to other product categories for Christmas and the New Year, “with further expansion possible in 2019.”

In the wake of Toys R Us’ demise, Party City is also making a bigger push into the toy category and plans to open 50 Toy City pop-up stores ahead of the holidays. The company didn’t say Thursday if it would test selling toys on Amazon.

For the second quarter of fiscal 2018 ended June 30, Party City sales climbed 3 percent to $561 million, falling slightly short of Wall Street’s expectations for $563.9 million, according to a survey of analysts by Thomson Reuters.

Net income rose to $28.5 million, or 29 cents a share, compared with $25 million, or 21 cents per share, a year ago. Excluding one-time items, Party City earned 40 cents a share, a penny above analysts’ estimates and compared with earnings per share of 28 cents for the same period last year.

The company didn’t change its full-year outlook and still expects to bring in as much as $2.49 billion in sales and earn between $1.76 and $1.87 a share, on an adjusted basis. The Street had forecast Party City’s sales to be $2.48 billion for fiscal 2018, with net income of $1.84 per share.

Party City shares rose nearly 5 percent in trading Thursday morning on the news. The stock has climbed nearly 13 percent so far this year, bringing Party City’s market cap to $1.6 billion.


Company: cnbc, Activity: cnbc, Date: 2018-08-09  Authors: lauren thomas, dorann weber, getty images, eduardo munoz, xinhua, ju peng, odd anderson, afp, axelle bauer-griffin
Keywords: news, cnbc, companies, sales, share, amazon, million, cents, city, program, retailer, party, deal, billion, lands


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Sad over losing Toys R Us, parents drive a surge in toy sales in the first half of the year

Things are looking up for the toy industry as parents and grandparents, sad over the bankruptcy of Toys R Us, fueled massive sales in the first half of the year. The toy industry’s sales grew 7 percent to $7.9 billion through June, according to market research company NPD Group. She said she was convinced that the jump in sales was at least partially due to empathy over losing Toys R Us. “I think it brought about an emotional response that resulted in parents buying more toys overall,” she said.


Things are looking up for the toy industry as parents and grandparents, sad over the bankruptcy of Toys R Us, fueled massive sales in the first half of the year. The toy industry’s sales grew 7 percent to $7.9 billion through June, according to market research company NPD Group. She said she was convinced that the jump in sales was at least partially due to empathy over losing Toys R Us. “I think it brought about an emotional response that resulted in parents buying more toys overall,” she said.
Sad over losing Toys R Us, parents drive a surge in toy sales in the first half of the year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-06  Authors: sarah whitten, dan kitwood, getty images, eduardo munoz
Keywords: news, cnbc, companies, yearthe, yearcollectible, toy, sales, industry, sad, surge, parents, drive, losing, toys, kids, half, grandparents


Sad over losing Toys R Us, parents drive a surge in toy sales in the first half of the year

Things are looking up for the toy industry as parents and grandparents, sad over the bankruptcy of Toys R Us, fueled massive sales in the first half of the year.

The toy industry’s sales grew 7 percent to $7.9 billion through June, according to market research company NPD Group.

“It is likely that the Toys R Us news has kept toys top-of-mind for parents and grandparents when shopping for kids in general, benefiting both consumers and the industry,” Juli Lennett, senior vice president and industry advisor, said in a statement Monday.

She said she was convinced that the jump in sales was at least partially due to empathy over losing Toys R Us.

“I think it brought about an emotional response that resulted in parents buying more toys overall,” she said.

Lennett said that sales of toys priced between $5 and $19.99 and robotic and interactive toys were the two major drivers of growth in the toy industry so far this year.

Collectible dolls like LOL Surprise, Fingerlings and Soft’n Slo Squishies remain at the top of kids’ wish lists as well as toys that feature dinosaurs and unicorns.


Company: cnbc, Activity: cnbc, Date: 2018-08-06  Authors: sarah whitten, dan kitwood, getty images, eduardo munoz
Keywords: news, cnbc, companies, yearthe, yearcollectible, toy, sales, industry, sad, surge, parents, drive, losing, toys, kids, half, grandparents


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North Korea alarmed by US attitudes but committed to nuclear deal

North Korea’s foreign minister said on Saturday he was increasingly alarmed by U.S. attitudes towards the isolated state but said it remained firm in its determination to implement the nuclear deal it reached with Washington in June. The United States and North Korea pledged to end the North’s nuclear program and establish peace on the Korean peninsula in the landmark June agreement reached by their leaders in Singapore. U.S. Secretary of State Mike Pompeo pressed Southeast Asian nations at regi


North Korea’s foreign minister said on Saturday he was increasingly alarmed by U.S. attitudes towards the isolated state but said it remained firm in its determination to implement the nuclear deal it reached with Washington in June. The United States and North Korea pledged to end the North’s nuclear program and establish peace on the Korean peninsula in the landmark June agreement reached by their leaders in Singapore. U.S. Secretary of State Mike Pompeo pressed Southeast Asian nations at regi
North Korea alarmed by US attitudes but committed to nuclear deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-04  Authors: eduardo munoz
Keywords: news, cnbc, companies, states, end, nuclear, north, tests, alarmed, korean, committed, attitudes, peace, war, korea, deal, united


North Korea alarmed by US attitudes but committed to nuclear deal

North Korea’s foreign minister said on Saturday he was increasingly alarmed by U.S. attitudes towards the isolated state but said it remained firm in its determination to implement the nuclear deal it reached with Washington in June.

The United States and North Korea pledged to end the North’s nuclear program and establish peace on the Korean peninsula in the landmark June agreement reached by their leaders in Singapore.

“The DPRK stands firm in its determination and commitment for implementing the DPRK-U.S. Joint Statement in a responsible and good-faith manner,” said Ri Yong Ho, referring to his country by its official name, the Democratic People’s Republic of Korea.

“What is alarming however is the insistent moves manifested within the U.S. to go back to the old, far from its leader’s intention.”

U.S. Secretary of State Mike Pompeo pressed Southeast Asian nations at regional meetings in Singapore this week to maintain sanctions on North Korea but said he was optimistic that the deal to end the North’s nuclear programme would be implemented.

“We have initiated goodwill measures of, inter alia, a moratorium on nuclear tests and rocket launch tests and dismantling of nuclear test ground,” Ri said in a statement delivered to the Association of Southeast Asian Nations (ASEAN) forum.

“However, the United States, instead of responding to these measures, is raising its voice louder for maintaining the sanctions against the DPRK and showing the attitude to retreat even from declaring the end of the war, a very basic and primary step for providing peace on the Korean peninsula.”

North Korea, backed by China, fought the South and U.S.-led U.N. forces in the 1950-53 Korean War which ended in a mere truce, not a peace treaty.


Company: cnbc, Activity: cnbc, Date: 2018-08-04  Authors: eduardo munoz
Keywords: news, cnbc, companies, states, end, nuclear, north, tests, alarmed, korean, committed, attitudes, peace, war, korea, deal, united


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DHS head Nielsen forecasts ‘hurricane’ cyberattacks, announces response

“We are in a crisis mode,” Nielsen said at a cybersecurity summit in New York. Nielsen said DHS will launch the National Risk Management Center this year to provide “a cross-collaborative approach,” connecting government agencies and corporations. The new risk center is meant to ease some of those fears, and provide a more effective, “crowd-sourced” response to various types of attacks, she said. That would involve taking expertise from various private sector and public cyber professionals. DHS


“We are in a crisis mode,” Nielsen said at a cybersecurity summit in New York. Nielsen said DHS will launch the National Risk Management Center this year to provide “a cross-collaborative approach,” connecting government agencies and corporations. The new risk center is meant to ease some of those fears, and provide a more effective, “crowd-sourced” response to various types of attacks, she said. That would involve taking expertise from various private sector and public cyber professionals. DHS
DHS head Nielsen forecasts ‘hurricane’ cyberattacks, announces response Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-31  Authors: kate fazzini, eduardo munoz
Keywords: news, cnbc, companies, companies, hurricane, private, risk, information, provide, cyberattacks, various, center, response, announces, dhs, head, sharing, forecasts, nielsen, security


DHS head Nielsen forecasts 'hurricane' cyberattacks, announces response

The next major attack on the U.S. is more likely to come by computers than airplanes, Department of Homeland Security Secretary Kirstjen Nielsen said Tuesday.

“We are in a crisis mode,” Nielsen said at a cybersecurity summit in New York. “A cat 5 hurricane has been forecast, and we must prepare.”

One way to prepare is to encourage more information-sharing between private sector companies and the government, she said, an idea that has been controversial in the past.

Nielsen said DHS will launch the National Risk Management Center this year to provide “a cross-collaborative approach,” connecting government agencies and corporations. The center will be housed at DHS headquarters in Washington and will bring together industry partners to provide a “single point of access to the full range of government activities to defend against cyberthreats.”

The government and private corporations have not always cooperated smoothly on sharing threat information. Multinational companies sometimes face backlash in countries where they operate outside the U.S. because of concerns they are sharing local information with U.S. authorities. Some companies are wary of inviting too much scrutiny from the government that could lead to regulatory action or result in handing proprietary or damaging information to industry competitors.

The new risk center is meant to ease some of those fears, and provide a more effective, “crowd-sourced” response to various types of attacks, she said. That would involve taking expertise from various private sector and public cyber professionals.

Nielsen said DHS expects to launch the initiative immediately, and that the agency has also established a new elections task force to help secretaries of states across the country evaluate their security risk in advance of the November midterm elections.

DHS will also introduce a new voluntary supply chain risk management initiative, meant to enlist cybersecurity experts from companies, in cooperation with government agencies, to help hunt down specific security weaknesses.

The new initiatives represent a shift in focus from looking at individual industries to analyzing how particular threats could affect a wider swath of businesses in finance, technology, energy and supply chain. DHS is trying to avoid a single attack that creates cascading problems across these industries and will have to change existing protocols of information sharing so that there’s greater collaboration.

Nielsen’s comments echoed recent predictions from Dan Coats, head of the Office of the Department of National Intelligence, who recently warned of a “cyber-9/11.”


Company: cnbc, Activity: cnbc, Date: 2018-07-31  Authors: kate fazzini, eduardo munoz
Keywords: news, cnbc, companies, companies, hurricane, private, risk, information, provide, cyberattacks, various, center, response, announces, dhs, head, sharing, forecasts, nielsen, security


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It’s war: Target, eBay and other retailers pile on deals to compete ahead of Amazon Prime Day

Amazon Prime Day isn’t just about the deals on Amazon anymore. In its fourth year, the annual shopping event is now drawing the attention of rivals eBay, Target, Kohl’s, Macy’s and more. Coresight Research is estimating Prime Day 2018 sales should reach at minimum $3.4 billion globally, breaking another record. The fact that other retailers are starting to plan their own promotional events around Prime Day shows just how important the event has become for the industry. Amazon last year said a re


Amazon Prime Day isn’t just about the deals on Amazon anymore. In its fourth year, the annual shopping event is now drawing the attention of rivals eBay, Target, Kohl’s, Macy’s and more. Coresight Research is estimating Prime Day 2018 sales should reach at minimum $3.4 billion globally, breaking another record. The fact that other retailers are starting to plan their own promotional events around Prime Day shows just how important the event has become for the industry. Amazon last year said a re
It’s war: Target, eBay and other retailers pile on deals to compete ahead of Amazon Prime Day Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-13  Authors: lauren thomas, eduardo munoz
Keywords: news, cnbc, companies, cyber, target, event, shopping, prime, bigger, companies, day, compete, pile, amazon, sales, record, ebay, retailers, deals, war


It's war: Target, eBay and other retailers pile on deals to compete ahead of Amazon Prime Day

Amazon Prime Day isn’t just about the deals on Amazon anymore.

In its fourth year, the annual shopping event is now drawing the attention of rivals eBay, Target, Kohl’s, Macy’s and more. It’s great news for shoppers looking to save money next week but added pressure for those companies already losing market share to the e-commerce behemoth.

Coresight Research is estimating Prime Day 2018 sales should reach at minimum $3.4 billion globally, breaking another record. If that threshold is achieved, it will make July 17 the biggest shopping day ever for Amazon in terms of revenues, ahead of Cyber Monday 2017, said Coresight CEO and Founder Deborah Weinswig.

The fact that other retailers are starting to plan their own promotional events around Prime Day shows just how important the event has become for the industry. Amazon last year said a record “tens of millions of Prime members” rang up purchases during Prime Day. With so much traffic online, other companies can’t afford to miss an opportunity to win some of those sales, especially as Amazon becomes a bigger and bigger threat.

PwC consumer markets lead Steve Barr said, “July has turned into a mini holiday shopping season” with all the activity piling on. It could one day surpass the shopping done around Black Friday or Cyber Monday.


Company: cnbc, Activity: cnbc, Date: 2018-07-13  Authors: lauren thomas, eduardo munoz
Keywords: news, cnbc, companies, cyber, target, event, shopping, prime, bigger, companies, day, compete, pile, amazon, sales, record, ebay, retailers, deals, war


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