Louisiana’s post-Katrina flood defenses put to test as Barry approaches

Tropical Storm Barry, which threatens to make landfall as a hurricane Saturday and flood parts of Louisiana, will pose a serious test of New Orleans’ post-Hurricane Katrina flood defenses. Despite better built levees and flood walls since Katrina, officials are concerned that additional rainwater from Barry could exacerbate an unusually swollen Mississippi River this weekend. According to the hurricane center, Barry will be slow moving and result in “a long duration heavy rainfall and flood thre


Tropical Storm Barry, which threatens to make landfall as a hurricane Saturday and flood parts of Louisiana, will pose a serious test of New Orleans’ post-Hurricane Katrina flood defenses. Despite better built levees and flood walls since Katrina, officials are concerned that additional rainwater from Barry could exacerbate an unusually swollen Mississippi River this weekend. According to the hurricane center, Barry will be slow moving and result in “a long duration heavy rainfall and flood thre
Louisiana’s post-Katrina flood defenses put to test as Barry approaches Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: emma newburger
Keywords: news, cnbc, companies, postkatrina, levees, rainfall, mississippi, louisiana, barry, flood, approaches, defenses, storm, test, system, katrina, louisianas, hurricane, orleans


Louisiana's post-Katrina flood defenses put to test as Barry approaches

Tropical Storm Barry, which threatens to make landfall as a hurricane Saturday and flood parts of Louisiana, will pose a serious test of New Orleans’ post-Hurricane Katrina flood defenses. New Orleans’ situation is precarious. The Mississippi River is expected to rise to nearly 20 feet, the highest level since 1950; roughly 10 to 15 inches of rain is projected to drench the state through the weekend; and a storm surge could reach 3 to 6 feet above normal tide levels in areas at most risk. As the National Hurricane Center expects a Category 1 hurricane as soon as late Friday, some experts emphasize that Louisiana’s defense system for storm surges is vastly improved since Hurricane Katrina in 2005, which struck Louisiana as a Category 5 storm, inundating most of New Orleans. Despite better built levees and flood walls since Katrina, officials are concerned that additional rainwater from Barry could exacerbate an unusually swollen Mississippi River this weekend. “Katrina exposed every weak link in the chain that we had, in terms of defense to storm surges,” Barry Keim, a climatologist at Louisiana State University, said in an interview. “We exposed every one of those weaknesses and fixed them. Now, the levee system is way more robust than it was back in 2005.”

Improved levees

During Katrina, there were over 50 levee and flood wall failures. Investigations in the years following revealed several factors that led to failure, including improper maintenance, design flaws and instances where levees were built partly with sand, rather than thicker clay that provided greater protection.

Ashley Boudreaux ties sandbags Friday, July 12, 2019, in Baton Rouge, La., ahead of Tropical Storm Barry. David J. Phillip | AP

New Orleans government officials and experts are targeting rainfall as the main threat to communities, and are focusing on the complex system of drainage pumps. The city has not issued a mandatory evacuation, but has warned residents of the incoming threats and has declared an emergency. President Donald Trump on Friday declared an emergency and ordered federal assistance to Louisiana. The city is protected from flooding by a system of levees and pumps, which can be overwhelmed by extreme bouts of rainfall or consistently heavy rain over the course of a few days. “The biggest threat right now is rainfall. We don’t know yet the intensity of the rainfall,” said Clinton Willson, an environmental engineering professor at Louisiana State University. “Our storm water infrastructure is reliant upon a long, steady duration of rainfall rather than short, massive high-intensity rainfall events — that overwhelms the local system.” According to the hurricane center, Barry will be slow moving and result in “a long duration heavy rainfall and flood threat along the central Gulf Coast.” If any of the levees failed, parts of the city could be flooded. “We’re in much better shape going into this storm,” Keim said. “This storm is really only expected to be a Category 1 storm at worst. By virtue, it won’t test the levees like Katrina would. I don’t anticipate any major problems.” That said, the category of a potential hurricane doesn’t consider storm surge and rain production, which are key concerns for flood-prone cities New Orleans, where Barry will put the city’s pump-and-levee protection system to the test.

A swollen Mississippi River

The Mississippi River is also running higher than usual this season as a result of heavy spring rains and snow melt, and is reaching close to the 20-foot-high levees. However, some authorities and experts said that they do not expect the river to spill over its levees. “At this point, there is no real alarm,” said environmental engineer Bob Jacobsen. “One of the concerns has been since the Mississippi River is in flood stage, it could pile up at levels that would overtop the Mississippi levee.”

Canal Street is flooded a day after Hurricane Katrina blew through August 30, 2005 in New Orleans, Louisiana. Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: emma newburger
Keywords: news, cnbc, companies, postkatrina, levees, rainfall, mississippi, louisiana, barry, flood, approaches, defenses, storm, test, system, katrina, louisianas, hurricane, orleans


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United Airlines extends Boeing 737 Max cancellations to early November

United Airlines on Friday said it will extend its Boeing 737 Max groundings through Nov. 3, amounting to 2,100 cancellations in September and 2,900 in October. United, which has 14 Max jets in its fleet, had previously removed the jets from its schedule through Aug. 3. “We are continuing to work through the schedule to try and swap and upgauge aircraft to mitigate the disruption caused by the grounding of the MAX,” United said in a statement. The 737 Max has been grounded worldwide since mid-Mar


United Airlines on Friday said it will extend its Boeing 737 Max groundings through Nov. 3, amounting to 2,100 cancellations in September and 2,900 in October. United, which has 14 Max jets in its fleet, had previously removed the jets from its schedule through Aug. 3. “We are continuing to work through the schedule to try and swap and upgauge aircraft to mitigate the disruption caused by the grounding of the MAX,” United said in a statement. The 737 Max has been grounded worldwide since mid-Mar
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United Airlines extends Boeing 737 Max cancellations to early November

United Airlines on Friday said it will extend its Boeing 737 Max groundings through Nov. 3, amounting to 2,100 cancellations in September and 2,900 in October.

United, which has 14 Max jets in its fleet, had previously removed the jets from its schedule through Aug. 3.

“We are continuing to work through the schedule to try and swap and upgauge aircraft to mitigate the disruption caused by the grounding of the MAX,” United said in a statement.

“We continue to automatically book affected customers on alternate flights. If we are unable to place them on a different flight, we will proactively reach out to try and offer other options.”

The 737 Max has been grounded worldwide since mid-March, after its anti-stall software was implicated in two deadly crashes in October and March.

Other major airlines including American and Southwest have canceled thousands of flights during the busy summer travel season, and have further removed the Max from schedules through Sept. 3 and Oct. 1, respectively. Those airlines will likely further extend cancellations.

United reports second-quarter results after the market closes on Tuesday. Delta Air Lines, which does not fly the 737 Max, said on Thursday that it’s seeing a small benefit as rivals grapple with the grounding.

Boeing deliveries are stopped until aviation regulators approve the jet’s return to service. The airplane maker said in June that it would likely take until September or later to introduce a new software fix after the Federal Aviation Administration identified a new software issue a month ago.


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: emma newburger
Keywords: news, cnbc, companies, cancellations, schedule, boeing, united, early, 737, likely, removed, max, software, try, extends, jets, airlines


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Boeing 737 program manager to retire amid crisis over jet’s grounding

Mark Jenks, who has worked on Boeing’s potential new mid-market airplane (NMA) project, will assume the role as lead of the 737 program, McAllister said. Since his first job as a liaison engineer, to his current job leading the 737 program and Renton site, Eric has worked across Commercial Airplanes. Mark Jenks will step into the position to lead the 737 program and Renton site. With Mark’s move, we also have the opportunity to continue to invest in the NMA development. His strong track record o


Mark Jenks, who has worked on Boeing’s potential new mid-market airplane (NMA) project, will assume the role as lead of the 737 program, McAllister said. Since his first job as a liaison engineer, to his current job leading the 737 program and Renton site, Eric has worked across Commercial Airplanes. Mark Jenks will step into the position to lead the 737 program and Renton site. With Mark’s move, we also have the opportunity to continue to invest in the NMA development. His strong track record o
Boeing 737 program manager to retire amid crisis over jet’s grounding Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: emma newburger, michael sheetz
Keywords: news, cnbc, companies, president, role, program, boeing, crisis, amid, 737, eric, grounding, retire, nma, mark, jets, development, vice, manager, service


Boeing 737 program manager to retire amid crisis over jet's grounding

Mark Jenks, who has worked on Boeing’s potential new mid-market airplane (NMA) project, will assume the role as lead of the 737 program, McAllister said.

Mike Sinnett, Boeing Commercial Airplanes vice president of product development and future airplane development, will also take over as vice president for NMA in addition to his current role, according to the memo.

Here’s the full memo:

“These are unprecedented times for us, as our primary focus remains the safe return of service for the 737 MAX and driving quality and safety in all that we do.

To that end, I am grateful to Eric Lindblad for his strong leadership and tireless drive over the past 12 months leading the 737 program, as he has navigated some of the most difficult challenges our company has ever faced. He shared with me his desire to retire last year, and we will now begin to embark on a thoughtful and seamless transition plan.

For the past 34 years, Eric has dedicated his career to Boeing. Since his first job as a liaison engineer, to his current job leading the 737 program and Renton site, Eric has worked across Commercial Airplanes. Over the past three decades, Eric has made an impact on countless employees and has led some of the biggest bets of our business. And, he has done it through a lens of doing what’s right and continuing to ensure our relentless focus on safety and quality.

I have admired Eric’s resolve and drive, and we are grateful for his service and dedication.

Mark Jenks will step into the position to lead the 737 program and Renton site. He will work closely with Eric over the next several weeks to ensure a seamless transition as we approach the safe return to service of the 737 MAX.

As the vice president of the New Mid-Market (NMA) program, Mark has led all aspects of the development program ranging from the business case to the definition of the production system, services offerings and airplane configuration. Mark also led the 787 program during some of its most challenging of years, and has held several leadership roles within Boeing’s defense and space businesses. A true One Boeing leader, Mark will leverage his learnings and expertise for our 737 program as we carefully and fully return to the 737 MAX to service and meet our customer commitments.

With Mark’s move, we also have the opportunity to continue to invest in the NMA development. I’m pleased to announce that Mike Sinnett will assume the role of vice president for the NMA in addition to his current role leading the Product Strategy and Future Airplane Development Team. Let me be clear – the NMA team will continue to operate as a program, and I am looking forward to Mike’s leadership in this important effort. Before leading the Product Strategy and Future Airplane Development organization, Mike served as vice president and chief project engineer for the 787 program. His strong track record of new development programs will be instrumental to the long-term success of the NMA program. Mike will also continue to play a pivotal role in our stakeholder and customer outreach efforts on the MAX certification and return to service efforts.

All three of these leaders have consistently demonstrated a One Boeing approach to their work, and have been living the Boeing Behaviors. Please join me in congratulating Eric on his planned retirement, and welcoming Mark and Mike to their new leadership roles. “


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: emma newburger, michael sheetz
Keywords: news, cnbc, companies, president, role, program, boeing, crisis, amid, 737, eric, grounding, retire, nma, mark, jets, development, vice, manager, service


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Trump to nominate Judy Shelton, Christopher Waller to the Federal Reserve

Cramer: Tech stocks are overvalued, but ‘it’s not like we’ve gone…”After a big run, you always hear that there are just too many bulls, too much excitement, too much optimism,” but Jim Cramer’s not buying it. Mad Money with Jim Cramerread more


Cramer: Tech stocks are overvalued, but ‘it’s not like we’ve gone…”After a big run, you always hear that there are just too many bulls, too much excitement, too much optimism,” but Jim Cramer’s not buying it. Mad Money with Jim Cramerread more
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Trump to nominate Judy Shelton, Christopher Waller to the Federal Reserve

Cramer: Tech stocks are overvalued, but ‘it’s not like we’ve gone…

“After a big run, you always hear that there are just too many bulls, too much excitement, too much optimism,” but Jim Cramer’s not buying it.

Mad Money with Jim Cramer

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Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: emma newburger
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San Francisco bans e-cigarette sales, becoming the first US city to do so

San Francisco on Tuesday became the first city in the country to ban e-cigarettes after city officials approved an ordinance that prohibits selling nicotine pods or devices that haven’t been approved by the Food and Drug Administration. City supervisors last week voted unanimously 11 to 0 in favor of the measure. San Francisco’s rules require two votes in order for an ordinance to be finalized. “There is so much we don’t know about the health impacts of these products, but we do know that e-ciga


San Francisco on Tuesday became the first city in the country to ban e-cigarettes after city officials approved an ordinance that prohibits selling nicotine pods or devices that haven’t been approved by the Food and Drug Administration. City supervisors last week voted unanimously 11 to 0 in favor of the measure. San Francisco’s rules require two votes in order for an ordinance to be finalized. “There is so much we don’t know about the health impacts of these products, but we do know that e-ciga
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Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: angelica lavito emma newburger, angelica lavito, emma newburger
Keywords: news, cnbc, companies, sales, nicotine, votes, products, city, know, ecigarette, week, bans, francisco, approved, san, ordinance


San Francisco bans e-cigarette sales, becoming the first US city to do so

San Francisco on Tuesday became the first city in the country to ban e-cigarettes after city officials approved an ordinance that prohibits selling nicotine pods or devices that haven’t been approved by the Food and Drug Administration.

City supervisors last week voted unanimously 11 to 0 in favor of the measure. San Francisco’s rules require two votes in order for an ordinance to be finalized.

“There is so much we don’t know about the health impacts of these products, but we do know that e-cigarette companies are targeting our kids in their advertising and getting them hooked on addictive nicotine products,” San Francisco mayor London Breed said in a statement.


Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: angelica lavito emma newburger, angelica lavito, emma newburger
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Apple will put 2,000 employees in new Seattle hub near Amazon headquarters

New sanctions on Iran may be the end of the diplomatic road:…”What else do you have to do that will actually have to affect the Iranians’ calculus?” said Amos Hochstein, who served as U.S. special envoy for international energy affairs…World Politicsread more


New sanctions on Iran may be the end of the diplomatic road:…”What else do you have to do that will actually have to affect the Iranians’ calculus?” said Amos Hochstein, who served as U.S. special envoy for international energy affairs…World Politicsread more
Apple will put 2,000 employees in new Seattle hub near Amazon headquarters Cached Page below :
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Keywords: news, cnbc, companies, politicsread, apple, 2000, envoy, headquarters, iranians, hochstein, employees, sanctions, seattle, hub, roadwhat, iran, international, amazon, special, served, near


Apple will put 2,000 employees in new Seattle hub near Amazon headquarters

New sanctions on Iran may be the end of the diplomatic road:…

“What else do you have to do that will actually have to affect the Iranians’ calculus?” said Amos Hochstein, who served as U.S. special envoy for international energy affairs…

World Politics

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Company: cnbc, Activity: cnbc, Date: 2019-06-24  Authors: emma newburger
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Major banks set new lending standards for shipping industry in order to cut CO2 emissions

Eleven banks that lend to shipping lines announced Monday that climate impact will be integrated into the criteria that determines how much shipping companies can borrow, an effort the banks say will substantially cut CO2 emissions in the industry. “We’re making banks alert to the consequences of climate change in their portfolios,” said Michael Parker, global industry head for shipping with Citigroup. “We’re now taking climate change issues into decision-making in a way that helps the industry


Eleven banks that lend to shipping lines announced Monday that climate impact will be integrated into the criteria that determines how much shipping companies can borrow, an effort the banks say will substantially cut CO2 emissions in the industry. “We’re making banks alert to the consequences of climate change in their portfolios,” said Michael Parker, global industry head for shipping with Citigroup. “We’re now taking climate change issues into decision-making in a way that helps the industry
Major banks set new lending standards for shipping industry in order to cut CO2 emissions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: emma newburger
Keywords: news, cnbc, companies, parker, banks, emissions, industry, ships, cut, set, major, global, lending, maritime, shipping, climate, order, co2, standards


Major banks set new lending standards for shipping industry in order to cut CO2 emissions

The Cosco Spain container ship, operated by Cosco Shipping Holdings Co., sails near the Yangshan Deepwater Port, operated by Shanghai International Port Group Co. (SIPG), in this aerial photograph taken in Shanghai, China, on Friday, May 10, 2019.

Eleven banks that lend to shipping lines announced Monday that climate impact will be integrated into the criteria that determines how much shipping companies can borrow, an effort the banks say will substantially cut CO2 emissions in the industry.

The banks will set their new lending standards around the International Maritime Organization’s 2018 climate commitment, which seeks to reduce CO2 emissions by at least 50% from 2008 levels by 2050 and to cut emissions from individual ships by 40% from 2008 levels by 2030.

“We’re making banks alert to the consequences of climate change in their portfolios,” said Michael Parker, global industry head for shipping with Citigroup.

“We’re now taking climate change issues into decision-making in a way that helps the industry transition to necessary technology to design ships, reduce emissions and decarbonize the industry.”

It’s the first time that global banks are collectively integrating a climate alignment strategy into financial decisions.

Shipping accounts for 2.2% of world carbon dioxide emissions, according to the IMO, a U.N. agency that regulates pollution from ships.

The lending framework, called the “Poseidon Principles,” will assess and disclose whether financial institutions’ lending portfolios are in line with the IMO’s climate goals adopted in 2018.

The shipping industry avoided specific emission-cutting targets in the 2015 Paris climate agreement, when 195 countries pledged to cut greenhouse gas emissions in order to limit global average temperature rise to below 2 degrees Celsius.

The 11 banks collectively represent about 20%, or roughly $100 billion, of the global ship finance portfolio. The banks involved include Citi, Societe Generale, DNB, Danish Ship Finance, Danske Bank and Norway’s DVB. More signatories are expected following the official launch in a few months, Parker said.

James Mitchell, maritime finance lead at Rocky Mountain Institute, said the new standards will “redefine” the role of banks in the maritime shipping sector and encourage financial institutions to follow suit in other sectors.

“[The Poseidon Principles] are the world’s first global, sector-specific and self-governing climate alignment agreement among financial institutions,” Mitchell said. “The significance of this agreement cannot be understated.”

The maritime sector will require more ships to transport goods over the next few decades, Parker said, emphasizing that the new lending standards will help make those additional ships cleaner and more efficient.

“We know that it’s going to get more difficult. The challenge is to ensure that there’s a transition, that investment goes into helping the industry find alternative fuels in a way that incentivizes people to invest in new ships and new technology,” Parker said.

“We’ll help make lending decisions and investing decisions much less speculative and more directed toward the environmental consequences of that investment,” he said.

The IMO also implemented additional climate regulations last year that will slash emissions of sulfur by the world’s ships in 2020. OPEC oil producers, fuel sellers and shipping companies raised concerns that those new rules will make the oil market more volatile and hurt ships that aren’t equipped to reduce sulfur emissions or pay premiums for cleaner fuel within the set timeline.

Mitchell said that the IMO will launch more climate alignment policies in upcoming years, as banks and shipping owners transition to cleaner energy and technology.

“This is not occurring in a vacuum,” Mitchell said. “There are more policies coming down the pipe from IMO, and those will be policies that bring in more challenging aspects of decarbonization.”


Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: emma newburger
Keywords: news, cnbc, companies, parker, banks, emissions, industry, ships, cut, set, major, global, lending, maritime, shipping, climate, order, co2, standards


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Lululemon stock jumps after strong earnings, raises full-year guidance

The men’s assormtment on the inside of a Lululemon store. Lululemon on Wednesday reported first-quarter earnings and sales that outpaced analyst estimates, sending shares up nearly 4% in after-hours trading. Here’s what the athletic apparel maker reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: 74 cents per share, vs. 70 cents per share, expectedRevenue: $782 million, vs. $755 million, expectedThe company also raised its full-y


The men’s assormtment on the inside of a Lululemon store. Lululemon on Wednesday reported first-quarter earnings and sales that outpaced analyst estimates, sending shares up nearly 4% in after-hours trading. Here’s what the athletic apparel maker reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: 74 cents per share, vs. 70 cents per share, expectedRevenue: $782 million, vs. $755 million, expectedThe company also raised its full-y
Lululemon stock jumps after strong earnings, raises full-year guidance Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: emma newburger lauren thomas, emma newburger, lauren thomas
Keywords: news, cnbc, companies, cents, strong, jumps, fullyear, reported, billion, lululemon, share, guidance, 74, earnings, vs, stock, wall, raises, tradingheres, million


Lululemon stock jumps after strong earnings, raises full-year guidance

The men’s assormtment on the inside of a Lululemon store.

Lululemon on Wednesday reported first-quarter earnings and sales that outpaced analyst estimates, sending shares up nearly 4% in after-hours trading.

Here’s what the athletic apparel maker reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: 74 cents per share, vs. 70 cents per share, expected

Revenue: $782 million, vs. $755 million, expected

The company also raised its full-year guidance. It expects revenue between $3.73 billion and $3.77 billion, and earnings per share between $4.51 and $4.58 in 2019.

For the first quarter ended May 5, net income rose to $96.6 million, or 74 cents a share, from $75.2 million, or 55 cents a share.


Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: emma newburger lauren thomas, emma newburger, lauren thomas
Keywords: news, cnbc, companies, cents, strong, jumps, fullyear, reported, billion, lululemon, share, guidance, 74, earnings, vs, stock, wall, raises, tradingheres, million


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Shutterfly strikes take-private deal with Apollo Global, valuing company at $2.7 billion

Cramer: Beware of froth — ‘it may be too late to put new money to…”When you see people crowding into stocks just because they’re going up, it’s what I call a bad sign,” Jim Cramer says. Mad Money with Jim Cramerread more


Cramer: Beware of froth — ‘it may be too late to put new money to…”When you see people crowding into stocks just because they’re going up, it’s what I call a bad sign,” Jim Cramer says. Mad Money with Jim Cramerread more
Shutterfly strikes take-private deal with Apollo Global, valuing company at $2.7 billion Cached Page below :
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Shutterfly strikes take-private deal with Apollo Global, valuing company at $2.7 billion

Cramer: Beware of froth — ‘it may be too late to put new money to…

“When you see people crowding into stocks just because they’re going up, it’s what I call a bad sign,” Jim Cramer says.

Mad Money with Jim Cramer

read more


Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: emma newburger
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Stocks making biggest moves after hours: Shutterfly, Broadcom, Zynga

New York, London and Paris remain the world’s leading cities —…New York, London and Paris continue to dominate as the world’s top three most competitive cities. But their prime positions could be up for contention, according to a new…Get Aheadread more


New York, London and Paris remain the world’s leading cities —…New York, London and Paris continue to dominate as the world’s top three most competitive cities. But their prime positions could be up for contention, according to a new…Get Aheadread more
Stocks making biggest moves after hours: Shutterfly, Broadcom, Zynga Cached Page below :
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Keywords: news, cnbc, companies, leading, cities, york, prime, stocks, newget, zynga, moves, shutterfly, london, broadcom, worlds, paris, biggest, making, remain, positions, hours


Stocks making biggest moves after hours: Shutterfly, Broadcom, Zynga

New York, London and Paris remain the world’s leading cities —…

New York, London and Paris continue to dominate as the world’s top three most competitive cities. But their prime positions could be up for contention, according to a new…

Get Ahead

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Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: jesse pound, emma newburger
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