Amazon to expand Whole Foods stores: WSJ

Amazon.com is planning to expand its Whole Foods Market portfolio by adding more stores to put more customers within its two-hour delivery service range, The Wall Street Journal reported on Sunday, citing sources. Whole Foods employees have visited regions of Western North America for potential retail spaces in parts of Idaho, southern Utah and Wyoming where it currently has no stores, the Journal reported, citing a source. The world’s largest online retailer plans to expand its two-hour deliver


Amazon.com is planning to expand its Whole Foods Market portfolio by adding more stores to put more customers within its two-hour delivery service range, The Wall Street Journal reported on Sunday, citing sources. Whole Foods employees have visited regions of Western North America for potential retail spaces in parts of Idaho, southern Utah and Wyoming where it currently has no stores, the Journal reported, citing a source. The world’s largest online retailer plans to expand its two-hour deliver
Amazon to expand Whole Foods stores: WSJ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: smith collection gado, archive photos, getty images
Keywords: news, cnbc, companies, expand, citing, foods, twohour, united, states, amazon, delivery, sourcethe, wsj, cities, stores, journal


Amazon to expand Whole Foods stores: WSJ

Amazon.com is planning to expand its Whole Foods Market portfolio by adding more stores to put more customers within its two-hour delivery service range, The Wall Street Journal reported on Sunday, citing sources.

Whole Foods employees have visited regions of Western North America for potential retail spaces in parts of Idaho, southern Utah and Wyoming where it currently has no stores, the Journal reported, citing a source.

The world’s largest online retailer plans to expand its two-hour delivery service, Prime Now, to nearly all of its roughly 475 Whole Foods stores in the United States, the Journal said, citing another source.

The plans are a part in the series of Amazon’s grocery, delivery and pickup expansions to cities across the United States in recent months.

Prime Now services include a two-hour delivery option to subscribers in more than 60 cities, and online grocery pickup from Whole Foods stores in as little as 30 minutes from nearly 30 cities, WSJ said.

Amazon was not immediately available for comment outside regular business hours.


Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: smith collection gado, archive photos, getty images
Keywords: news, cnbc, companies, expand, citing, foods, twohour, united, states, amazon, delivery, sourcethe, wsj, cities, stores, journal


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Feds expand beef recall as salmonella outbreak broadens to 246 cases in 26 states

Tuesday’s recall marks a more than four-fold increase in the number of cases in two months; nearly 60 people have been hospitalized as a result of the current outbreak. Those included in the recall are Cedar River Farms Natural Beef, Comnor Perfect Choice, Gourmet Burger, Grass Run Farms Natural Beef, JBS Generic, Showcase and Showcase/Walmart. The recall notice didn’t provide a list of states where people were sickened. Anyone with questions about the recall can contact JBS’ consumer hotline at


Tuesday’s recall marks a more than four-fold increase in the number of cases in two months; nearly 60 people have been hospitalized as a result of the current outbreak. Those included in the recall are Cedar River Farms Natural Beef, Comnor Perfect Choice, Gourmet Burger, Grass Run Farms Natural Beef, JBS Generic, Showcase and Showcase/Walmart. The recall notice didn’t provide a list of states where people were sickened. Anyone with questions about the recall can contact JBS’ consumer hotline at
Feds expand beef recall as salmonella outbreak broadens to 246 cases in 26 states Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, salmonella, 26, broadens, reported, number, cases, beef, sickened, expand, states, natural, outbreak, need, recall, jbs, feds, products


Feds expand beef recall as salmonella outbreak broadens to 246 cases in 26 states

Need to look at options besides tariffs: National Cattlemen’s Beef Association director 11:00 AM ET Tue, 24 July 2018 | 06:17

The number of those sickened has increased drastically in recent weeks. Initially it was around 60 people in 16 states. Tuesday’s recall marks a more than four-fold increase in the number of cases in two months; nearly 60 people have been hospitalized as a result of the current outbreak.

The affected products were produced and packaged at an Arizona facility owned by JBS Tolleson from July 26 through Sept. 7 and shipped to retailers nationwide under many brand names. Those included in the recall are Cedar River Farms Natural Beef, Comnor Perfect Choice, Gourmet Burger, Grass Run Farms Natural Beef, JBS Generic, Showcase and Showcase/Walmart. See a list of the specific products being recalled here.

The recall notice didn’t provide a list of states where people were sickened. But, according to a Centers for Disease Control and Prevention case map updated as of Nov. 15, at least 66 cases of people infected with the outbreak have been reported in California, 13 in Texas, 42 in Arizona and several states, including Connecticut, Illinois and Massachusetts, have each reported one case.

Anyone with questions about the recall can contact JBS’ consumer hotline at 1-800-727-2333.

Salmonella can cause diarrhea, abdominal cramps and fever within three days of eating the contaminated product, and the illness can last up to seven days. While most people recover, people with weakened immune systems are more likely to need to be hospitalized.

WATCH:The fight against ‘fake meat’ has officially begun


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, salmonella, 26, broadens, reported, number, cases, beef, sickened, expand, states, natural, outbreak, need, recall, jbs, feds, products


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United inks deal with Avianca, Copa to expand footprint in Latin America

United Continental Holdings has reached a long-sought after deal with two major Latin American airlines allowing the third-largest carrier in the U.S. to expand in the region. The agreement, which United announced on Friday, will allow United Airlines, Panama’s Copa Holdings and Colombia-based Avianca Holdings to share revenue from flights and coordinate schedules. Avianca, Copa and United are already tied through a code-sharing partnership. United’s agreement with Avianca comes after a legal ba


United Continental Holdings has reached a long-sought after deal with two major Latin American airlines allowing the third-largest carrier in the U.S. to expand in the region. The agreement, which United announced on Friday, will allow United Airlines, Panama’s Copa Holdings and Colombia-based Avianca Holdings to share revenue from flights and coordinate schedules. Avianca, Copa and United are already tied through a code-sharing partnership. United’s agreement with Avianca comes after a legal ba
United inks deal with Avianca, Copa to expand footprint in Latin America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: leslie josephs, nicolo filippo, bloomberg, getty images
Keywords: news, cnbc, companies, airlines, revenue, footprint, latin, share, holdings, carrier, expand, copa, avianca, america, deal, inks, united


United inks deal with Avianca, Copa to expand footprint in Latin America

United Continental Holdings has reached a long-sought after deal with two major Latin American airlines allowing the third-largest carrier in the U.S. to expand in the region.

The agreement, which United announced on Friday, will allow United Airlines, Panama’s Copa Holdings and Colombia-based Avianca Holdings to share revenue from flights and coordinate schedules. The three-way partnership is subject to approval from regulators. Avianca, Copa and United are already tied through a code-sharing partnership.

Joint ventures that allow airlines to coordinate routes and share either profits or revenue have become more common in recent years as carriers seek to expand internationally. Foreign ownership rules generally limit airlines from abroad to purchase another carrier outright, so such deals along with minority stakes, are a way to provide them with exposure to international markets.

Avianca serves around 170 destinations and has more than 180 aircraft, while Copa has a fleet of about 100 aircraft and serves about 75 destinations, according to the companies.

Flying to and from Latin America accounted for about 8 percent of United’s revenue in the third quarter, while American Airlines, the largest U.S. carrier in the region, received more than 11 percent of its revenue from Latin America flying in the quarter.

United’s agreement with Avianca comes after a legal battle that could have further delayed the deal was dropped last year.

In a filing on Friday detailing the deal with Avianca, United said it would provide a $456 million loan to Syngery Aerospace Corporation, Avianca’s owner, using stock in Avianca as collateral. The Wall Street Journal, which reported the deal earlier on Friday, said it would be used to repay a loan from hedge fund Elliott Management. Elliott did not immediately respond to a request for comment.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: leslie josephs, nicolo filippo, bloomberg, getty images
Keywords: news, cnbc, companies, airlines, revenue, footprint, latin, share, holdings, carrier, expand, copa, avianca, america, deal, inks, united


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Google reportedly plans to significantly expand its New York City presence

Tech giant Google is planning to expand its office space in New York City, potentially allowing the company to significantly increase staffing in the city, according to a report from The Wall Street Journal. The WSJ said that Google declined to comment on any talks about the St. John’s Terminal property. Additionally, Google is also planning to expand its existing property at Chelsea Market by about 300,000 square feet, the Journal reported. That, along with its announced plans for 250,000 squar


Tech giant Google is planning to expand its office space in New York City, potentially allowing the company to significantly increase staffing in the city, according to a report from The Wall Street Journal. The WSJ said that Google declined to comment on any talks about the St. John’s Terminal property. Additionally, Google is also planning to expand its existing property at Chelsea Market by about 300,000 square feet, the Journal reported. That, along with its announced plans for 250,000 squar
Google reportedly plans to significantly expand its New York City presence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: saheli roy choudhury, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, reportedly, wall, tech, york, street, office, expand, space, significantly, city, presence, st, plans, terminal, google


Google reportedly plans to significantly expand its New York City presence

Tech giant Google is planning to expand its office space in New York City, potentially allowing the company to significantly increase staffing in the city, according to a report from The Wall Street Journal.

People familiar with the matter told the Journal that Google is nearing a deal to buy or lease a planned 1.3 million-square-foot office building at St. John’s Terminal in Manhattan’s West Village neighborhood. When completed, that building would give the Alphabet unit space for more than 8,500 staff.

Google did not immediately respond to CNBC’s emailed request for comment.

The WSJ said that Google declined to comment on any talks about the St. John’s Terminal property.

Additionally, Google is also planning to expand its existing property at Chelsea Market by about 300,000 square feet, the Journal reported. That, along with its announced plans for 250,000 square feet of office space at Pier 57, could provide sufficient office space for more than 3,500 additional workers, the newspaper said.

The tech giant bought the Chelsea Market property earlier this year for about $2.4 billion.

Read The Wall Street Journal’s full report on Google expanding its office space in New York City here.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: saheli roy choudhury, bryan r smith, afp, getty images
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GE shares fall to 9-year low as SEC and DOJ expand investigations of accounting practices

Shares had jumped as much as 2 percent in premarket trading after GE announced its earnings results and dividend cut. The SEC opened an investigation of GE’s accounting practices in the wake of the company’s review a year ago of its GE Capital insurance portfolio. The SEC’s initial probe was looking at both the $6.2 billion after-tax charge GE took in the fourth quarter of 2017 as well as the $15 billion reserve increase GE would make to shore up the GE Capital portfolio. The DOJ has met with GE


Shares had jumped as much as 2 percent in premarket trading after GE announced its earnings results and dividend cut. The SEC opened an investigation of GE’s accounting practices in the wake of the company’s review a year ago of its GE Capital insurance portfolio. The SEC’s initial probe was looking at both the $6.2 billion after-tax charge GE took in the fourth quarter of 2017 as well as the $15 billion reserve increase GE would make to shore up the GE Capital portfolio. The DOJ has met with GE
GE shares fall to 9-year low as SEC and DOJ expand investigations of accounting practices Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-30  Authors: michael sheetz
Keywords: news, cnbc, companies, expand, investigation, sec, capital, ges, low, accounting, looking, charge, wmc, justice, shares, investigations, ge, fall, practices, billion, doj


GE shares fall to 9-year low as SEC and DOJ expand investigations of accounting practices

General Electric said the Securities and Exchange Commission was widening its probe of the accounting practices of the industrial conglomerate to include a $22 billion charge the company took in the third quarter related to acquisitions made in its power business.

“The SEC expanded the scope of its ongoing investigation to include the goodwill charge,” said GE’s Chief Financial Officer Jamie Miller on the company’s third-quarter earnings conference call. “The Department of Justice is also investigating this charge and the other areas we have previously reported are part of the SEC’s investigation. We are cooperating with the SEC and DOJ as they continue their work on these matters.”

GE’s stock fell as far as $10.50 a share in early trading – a new nine-year low – following the CFO’s comments. Shares had jumped as much as 2 percent in premarket trading after GE announced its earnings results and dividend cut.

“At the end of the day GE evokes aggressive accounting. The fact that the SEC is in there, and we know that they’ve expanded the scope of what they’re looking at, means it could lead to further expansion,” Gordon Haskett’s John Inch told CNBC. “The SEC can ultimately look at anything they want.”

The SEC opened an investigation of GE’s accounting practices in the wake of the company’s review a year ago of its GE Capital insurance portfolio. The SEC’s initial probe was looking at both the $6.2 billion after-tax charge GE took in the fourth quarter of 2017 as well as the $15 billion reserve increase GE would make to shore up the GE Capital portfolio. Miller disclosed in January that the SEC would look at GE’s revenue recognition and its controls for long-term service agreements.

The DOJ has met with GE this year to discuss the agency’s ongoing investigation into GE’s now defunct WMC mortgage business. GE set aside $1.5 billion of reserves for a potential legal settlement with the DOJ, the company revealed in its first-quarter earnings report this year. The Justice Department opened an investigation in late 2015 regarding WMC, which was a GE Capital subsidiary, and its alleged violation of the Financial Institutions Reform, Recovery, and Enforcement Act.

“This just opens up a new door to what the Department of Justice may be looking at, in totality, and the degree of fine GE may be looking at beyond the $1.5 billion they set aside,” Inch said.

Miller said in April that GE Capital “has sufficient liquidity to manage the WMC FIRREA settlement.”


Company: cnbc, Activity: cnbc, Date: 2018-10-30  Authors: michael sheetz
Keywords: news, cnbc, companies, expand, investigation, sec, capital, ges, low, accounting, looking, charge, wmc, justice, shares, investigations, ge, fall, practices, billion, doj


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Obamacare could expand after midterms, despite GOP efforts to kill it

That’s right, expand Obamacare – implausible as it sounds after the all-GOP government’s near miss on repealing the program and attempts to undermine it. The greatest potential impact lies in two of the three largest states that so far have refused to expand Medicaid despite generous Obamacare subsidies. At the same time, voters will decide Medicaid expansion for themselves through ballot initiatives in Idaho, Nebraska and Utah. “The battleground for Medicaid expansion is in the red states,” not


That’s right, expand Obamacare – implausible as it sounds after the all-GOP government’s near miss on repealing the program and attempts to undermine it. The greatest potential impact lies in two of the three largest states that so far have refused to expand Medicaid despite generous Obamacare subsidies. At the same time, voters will decide Medicaid expansion for themselves through ballot initiatives in Idaho, Nebraska and Utah. “The battleground for Medicaid expansion is in the red states,” not
Obamacare could expand after midterms, despite GOP efforts to kill it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-23  Authors: john harwood, luke sharrett, the washington post, getty images
Keywords: news, cnbc, companies, medicaid, states, voters, state, efforts, republican, expansion, health, election, republicans, obamacare, despite, kill, gop, midterms, expand


Obamacare could expand after midterms, despite GOP efforts to kill it

Don’t look now, but America’s first Trump-era midterm election could substantially expand Obamacare.

That’s right, expand Obamacare – implausible as it sounds after the all-GOP government’s near miss on repealing the program and attempts to undermine it. Polls show Democratic calls for improved health insurance continue to resonate with big chunks of the electorate, and may yield Election Day gains.

Specifically, November balloting could bring half the 18 states that have resisted expanding Medicaid, a key feature of the Affordable Care Act, closer to taking that step. If they do, more than 1 million low-income Americans could gain Medicaid coverage.

“I don’t think people have put it together,” observed Andy Slavitt, a former top Obama health aide. “Election Day is the biggest referendum on the ACA. These votes will also be a referendum on Trump policies, which have done everything they can to limit Medicaid and access to care.”

The greatest potential impact lies in two of the three largest states that so far have refused to expand Medicaid despite generous Obamacare subsidies. Democrats Andrew Gillum in Florida and Stacey Abrams in Georgia both back expansion in their competitive campaigns to succeed outgoing Republican governors.

The same dynamic applies in smaller states. In Wisconsin, anti-expansion GOP Gov. Scott Walker trails pro-expansion Democratic rival Tony Evers in his bid for a third term. In Kansas, Maine and South Dakota, pro-expansion Democrats battle anti-expansion Republicans in toss-up gubernatorial races.

At the same time, voters will decide Medicaid expansion for themselves through ballot initiatives in Idaho, Nebraska and Utah. Polls show strong prospects for all three measures, and GOP governors have pledged not to obstruct voters’ wishes.

Thirty-two states and the District of Columbia have already expanded, providing Medicaid benefits to more than 10 million low-income Americans, according to the Kaiser Family Foundation. Another 3.7 million stand to gain Medicaid coverage if remaining holdout states follow suit.

“The battleground for Medicaid expansion is in the red states,” noted Kaiser health policy expert Diane Rowland. For proponents, the persistent refusal of some GOP leaders makes ballot measures a critical tool.

Those aren’t automatic. Maine’s outgoing Republican governor, Paul LePage, has blocked Medicaid expansion even after his constituents approved it last year.

Nor does election of a pro-expansion governor ensure that it happens. In North Carolina, the fourth-largest state that hasn’t expanded, Democratic Gov. Roy Cooper has been stymied on the issue by Republican legislators since his 2016 election.

In the state, opponents of expansion say the government can’t afford it. In Washington, GOP leaders insist Congress must curb the major entitlement programs of Medicaid, Medicare and Social Security to avoid long-term insolvency.

Yet political winds have shifted in the wake of Republican attempts to end Obamacare. In a Kaiser poll this summer, Americans rated the law favorably by 50 percent to 40 percent, after it had remained below 50 percent through Obama’s last six years in office.

Both Trump and GOP candidates, under fire over their efforts to eliminate guaranteed, affordable coverage for people with pre-existing conditions, now claim to support that guarantee. In the latest NBC News/Wall Street Journal poll, voters preferred Democrats over Republicans on health care by 18 percentage points.

Democrats have placed the issue at the center of their campaign advertising, to productive effect. In the NBC/WSJ survey, voters ranked health care second behind the economy and jobs as an influence on their votes for Congress; those citing health care back Democrats over Republicans by 69 percent to 22 percent.

In the states the 2018 election has put in play, poor communities across the country stand to gain Medicaid coverage in big chunks: 662,000 in Florida; 388,000 in Georgia; 77,000 in Utah; 74,000 in Kansas; 70,000 in Maine; 41,000 in Idaho; 32,000 in Wisconsin; 31,000 in Nebraska, Kaiser estimates.

“These initiatives are an uprising by the public in state after state against politicians who put their ideology over the health-care needs of their constituents,” argued Neera Tanden, another former Obama health adviser. “The public wants people covered.”

WATCH: Here’s what will happen if Republicans repeal Obamacare


Company: cnbc, Activity: cnbc, Date: 2018-10-23  Authors: john harwood, luke sharrett, the washington post, getty images
Keywords: news, cnbc, companies, medicaid, states, voters, state, efforts, republican, expansion, health, election, republicans, obamacare, despite, kill, gop, midterms, expand


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Walmart to expand shipping perks for shoppers ahead of the holidays

In the fight for shoppers’ holiday dollars, retailers are increasingly touting perks like free shipping and easy returns. Walmart said Tuesday it’s expanding two-day shipping and in-store returns to many items sold by third parties on its website next month, just ahead of the busy holiday shopping season. For comparison, Target earlier this year began offering its credit-card holders free two-day shipping. Target shoppers without the credit card can still receive free two-day shipping with a pur


In the fight for shoppers’ holiday dollars, retailers are increasingly touting perks like free shipping and easy returns. Walmart said Tuesday it’s expanding two-day shipping and in-store returns to many items sold by third parties on its website next month, just ahead of the busy holiday shopping season. For comparison, Target earlier this year began offering its credit-card holders free two-day shipping. Target shoppers without the credit card can still receive free two-day shipping with a pur
Walmart to expand shipping perks for shoppers ahead of the holidays Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: lauren thomas, laura galligan, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, sold, free, twoday, website, shipping, holidays, sellers, target, expand, walmart, ahead, items, perks, shoppers


Walmart to expand shipping perks for shoppers ahead of the holidays

In the fight for shoppers’ holiday dollars, retailers are increasingly touting perks like free shipping and easy returns.

Walmart said Tuesday it’s expanding two-day shipping and in-store returns to many items sold by third parties on its website next month, just ahead of the busy holiday shopping season.

The move comes as Amazon and Target, two top retail rivals, have been improving their own shipping perks to convince shoppers to pick them over the competition. When it gets down to the last minute, shoppers who procrastinate later this year will be flocking to the retailers that can get items to them fastest before Christmas.

And after all those packages have been opened, many consumers will be heading back to stores to return unwanted gifts and are looking for as painless of an experience possible. Some $90 billion worth of goods was returned last holiday season.

For the past two years, Walmart has offered free two-day shipping on millions of items on its site without a membership fee, on orders of $35 or more. This latest step will add “millions of additional items” to this perk, according to Walmart. The retailer currently has more than 75 million items available for sale on its website. It doesn’t break out how many of those are sold by Walmart versus third parties.

The discount retailer also on Tuesday confirmed the steps it’s taking to making returning products sold by third-party sellers even easier, which is starting to roll out this month. CNBC reported these expected changes in August.

Shoppers will now be able to print out a return label directly from Walmart’s website and mail unwanted items back to sellers, the company said. Or, they can bring a package back to the services desk at Walmart locations, and Walmart will mail boxes back to sellers. Walmart said it will make this option available at all of its 4,700 stores.

“A great product return experience is a top contributor to overall customer satisfaction and repeat purchases,” Scott Hilton, the chief revenue officer of Walmart’s e-commerce division, said in a blog post.

For comparison, Target earlier this year began offering its credit-card holders free two-day shipping. The retailer’s REDcard also takes 5 percent off all purchases. Target shoppers without the credit card can still receive free two-day shipping with a purchase of more than $35, similar to Walmart. Amazon meanwhile offers free two-day shipping for Amazon Prime members, which costs $119 a year.

“Retailers realize they are fighting for convenience,” Rod Sides, head of Deloitte’s retail practice, told CNBC. “At the end of the day, they have to bring everything to you.”


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: lauren thomas, laura galligan, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, sold, free, twoday, website, shipping, holidays, sellers, target, expand, walmart, ahead, items, perks, shoppers


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SoftBank hints more companies from its $100 billion Vision Fund could expand to the Middle East

SoftBank will increase its focus on the Middle East by helping the companies it has invested in via its $100 billion Vision Fund set up in the region. During a CNBC-hosted panel at the Fintech Abu Dhabi conference Monday, a top executive from SoftBank Investment Advisers revealed details of the Vision Fund’s spotlight on the Middle East, a topic that the Japanese firm has previously not spoken much about. “We are working… to bring our portfolio of companies, where relevant, to the region so th


SoftBank will increase its focus on the Middle East by helping the companies it has invested in via its $100 billion Vision Fund set up in the region. During a CNBC-hosted panel at the Fintech Abu Dhabi conference Monday, a top executive from SoftBank Investment Advisers revealed details of the Vision Fund’s spotlight on the Middle East, a topic that the Japanese firm has previously not spoken much about. “We are working… to bring our portfolio of companies, where relevant, to the region so th
SoftBank hints more companies from its $100 billion Vision Fund could expand to the Middle East Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: arjun kharpal, patrick t fallon, bloomberg, getty images, tony avelar, beck diefenbach, ivan alvarado
Keywords: news, cnbc, companies, softbank, billion, vision, investment, working, 100, advisers, regional, expand, middle, set, east, hints, companies, fund


SoftBank hints more companies from its $100 billion Vision Fund could expand to the Middle East

SoftBank will increase its focus on the Middle East by helping the companies it has invested in via its $100 billion Vision Fund set up in the region.

During a CNBC-hosted panel at the Fintech Abu Dhabi conference Monday, a top executive from SoftBank Investment Advisers revealed details of the Vision Fund’s spotlight on the Middle East, a topic that the Japanese firm has previously not spoken much about.

“We are working… to bring our portfolio of companies, where relevant, to the region so that they can actually set up local and regional businesses here and there are a number of our companies that have globally scalable models,” Faisal Rahman, Middle Eastern regional office head at SoftBank Investment Advisers, said.


Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: arjun kharpal, patrick t fallon, bloomberg, getty images, tony avelar, beck diefenbach, ivan alvarado
Keywords: news, cnbc, companies, softbank, billion, vision, investment, working, 100, advisers, regional, expand, middle, set, east, hints, companies, fund


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California’s Jerry Brown takes aim at Trump, blocks offshore drilling

Jerry Brown on Saturday signed legislation to thwart the Trump administration’s efforts to expand offshore oil drilling along the California coast. Interior Department move in January that proposed to open up 90 percent of the country’s offshore oil and gas reserves through new federal leases. There has been no federal expansion of oil drilling along California’s coastline for more than three decades, and public opinion polling in the state has shown Californians oppose more oil drilling off the


Jerry Brown on Saturday signed legislation to thwart the Trump administration’s efforts to expand offshore oil drilling along the California coast. Interior Department move in January that proposed to open up 90 percent of the country’s offshore oil and gas reserves through new federal leases. There has been no federal expansion of oil drilling along California’s coastline for more than three decades, and public opinion polling in the state has shown Californians oppose more oil drilling off the
California’s Jerry Brown takes aim at Trump, blocks offshore drilling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-08  Authors: jeff daniels, joe sohm, getty images
Keywords: news, cnbc, companies, california, takes, federal, blocks, state, aim, waters, trump, brown, oil, jerry, public, californias, expand, offshore, drilling


California's Jerry Brown takes aim at Trump, blocks offshore drilling

California Gov. Jerry Brown on Saturday signed legislation to thwart the Trump administration’s efforts to expand offshore oil drilling along the California coast.

At the same time, the Democratic governor announced the state’s opposition to the federal government’s plan to expand oil drilling on public lands, an idea that’s is controversial in conservation-minded California. It follows the U.S. Interior Department move in January that proposed to open up 90 percent of the country’s offshore oil and gas reserves through new federal leases.

“Today, California’s message to the Trump administration is simple: Not here, not now,” Brown said in a press release. “We will not let the federal government pillage public lands and destroy our treasured coast.”

The two bills signed by Brown on Saturday, Senate Bill 834 and Assembly Bill 1775, seek to prohibit new construction of oil drilling-related infrastructure, such as pipelines, within state waters if the federal government authorizes any new offshore oil leases.

The White House and Interior Department did not immediately return CNBC’s request for comment.

California can make it difficult to expand oil and gas drilling, because it controls waters that are within three miles of its shoreline. The federal government has rights over waters between three and 231 miles offshore.

Moreover, the new legislation signed by the governor require new public notices and processes for lease renewals, as well as other hurdles to authorize new construction of oil and gas-related infrastructure associated with new federal leases. There has been no federal expansion of oil drilling along California’s coastline for more than three decades, and public opinion polling in the state has shown Californians oppose more oil drilling off the coast.

Back in 2015, the state experienced its worst oil spill in 25 years when a ruptured oil pipeline spilled over 140,000 gallons of crude into the ocean, and coastal beaches near Refugio State Beach in Santa Barbara County.

On Friday, a jury in Santa Barbara County convicted Texas-based Plains All-American Pipeline of nine criminal charges related to the spill, including a felony for failing to properly maintain its pipeline infrastructure.

There are currently 43 active federal oil and gas leases off the California coast, but no new federal leases have been awarded there since 1984. The administration’s plan seeks to expand oil drilling in the Pacific region, including in waters off California, Oregon and Washington.

The Trump administration offered Florida an exemption to offshore drilling. However, West Coast states received no such exemption.


Company: cnbc, Activity: cnbc, Date: 2018-09-08  Authors: jeff daniels, joe sohm, getty images
Keywords: news, cnbc, companies, california, takes, federal, blocks, state, aim, waters, trump, brown, oil, jerry, public, californias, expand, offshore, drilling


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