Why experts say the $25 million college admissions scandal is ‘just the tip of the iceberg’

But experts say this is just a colorful snapshot of the wider, darker realities of the U.S. college admissions system. “This scandal is just the tip of the iceberg. Reeves, who is the author of “Dream Hoarders,” says that there are several legal —but still immoral — ways in which wealthy families give their children an unfair advantage. Sandra Timmons, president of A Better Chance, an educational non-profit that serves students of color, expects more examples of admissions cheating to be reveale


But experts say this is just a colorful snapshot of the wider, darker realities of the U.S. college admissions system. “This scandal is just the tip of the iceberg. Reeves, who is the author of “Dream Hoarders,” says that there are several legal —but still immoral — ways in which wealthy families give their children an unfair advantage. Sandra Timmons, president of A Better Chance, an educational non-profit that serves students of color, expects more examples of admissions cheating to be reveale
Why experts say the $25 million college admissions scandal is ‘just the tip of the iceberg’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: abigail hess, david l ryan the boston globe via getty images, reuters patrick t fallon
Keywords: news, cnbc, companies, door, system, say, experts, admissions, children, students, million, college, 25, wealthy, families, scheme, ways, scandal, iceberg, tip


Why experts say the $25 million college admissions scandal is 'just the tip of the iceberg'

“There will not be a separate admissions system for the wealthy,” said Andrew E. Lelling, the U.S. Attorney for the District of Massachusetts, in a press conference on Tuesday, “and there will not be a separate criminal justice system either.”

But experts say this is just a colorful snapshot of the wider, darker realities of the U.S. college admissions system.

“This scandal is just the tip of the iceberg. The FBI said this scheme amounts to a ‘rigged system,’ but the truth is that the whole system of college admissions is rigged in favor of the wealthy,” Richard V. Reeves, senior fellow of Economic Studies and co-director of the Center on Children and Families at the Brookings Institute, tells CNBC Make It. “Most of the colleges targeted by the scheme take more students from families in the top 1 percent of the distribution than from the whole bottom half of the income ladder.”

Reeves, who is the author of “Dream Hoarders,” says that there are several legal —but still immoral — ways in which wealthy families give their children an unfair advantage.

“Legacy preferences hugely favor the wealthy, as do many preferences for certain athletic skills, musical abilities, and so on. The children of big donors seem to get an almost automatic admission,” says Reeves. “The difference between this illegal scheme and the legal ways in which money buys access is one of degree, not of kind.”

In a phone conversation recorded by the FBI, Singer acknowledged this reality by way of describing his services. “We help the wealthiest families in the U.S. get their kids into school. There is a front door which means you get in on your own. The back door is through institutional advancement, which is 10 times as much money,” he told one parent. “And I’ve created this side door in.”

Sandra Timmons, president of A Better Chance, an educational non-profit that serves students of color, expects more examples of admissions cheating to be revealed.

“We are encouraged to believe in a meritocracy. This scandal is disappointing in that it demonstrates so much of what is wrong with our college admissions process. It is shocking in its wide-ranging scope, and we know there’s more to come,” Timmons said in a statement. “It is heartbreaking for the many honest, hardworking students who want to believe in a level playing field.”


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: abigail hess, david l ryan the boston globe via getty images, reuters patrick t fallon
Keywords: news, cnbc, companies, door, system, say, experts, admissions, children, students, million, college, 25, wealthy, families, scheme, ways, scandal, iceberg, tip


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Why experts say the $25 million college admissions scandal is ‘just the tip of the iceberg’

But experts say this is just a colorful snapshot of the wider, darker realities of the U.S. college admissions system. “This scandal is just the tip of the iceberg. Reeves, who is the author of “Dream Hoarders,” says that there are several legal —but still immoral — ways in which wealthy families give their children an unfair advantage. Sandra Timmons, president of A Better Chance, an educational non-profit that serves students of color, expects more examples of admissions cheating to be reveale


But experts say this is just a colorful snapshot of the wider, darker realities of the U.S. college admissions system. “This scandal is just the tip of the iceberg. Reeves, who is the author of “Dream Hoarders,” says that there are several legal —but still immoral — ways in which wealthy families give their children an unfair advantage. Sandra Timmons, president of A Better Chance, an educational non-profit that serves students of color, expects more examples of admissions cheating to be reveale
Why experts say the $25 million college admissions scandal is ‘just the tip of the iceberg’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: abigail hess, david l ryan the boston globe via getty images, reuters patrick t fallon
Keywords: news, cnbc, companies, door, system, say, experts, admissions, children, students, million, college, 25, wealthy, families, scheme, ways, scandal, iceberg, tip


Why experts say the $25 million college admissions scandal is 'just the tip of the iceberg'

“There will not be a separate admissions system for the wealthy,” said Andrew E. Lelling, the U.S. Attorney for the District of Massachusetts, in a press conference on Tuesday, “and there will not be a separate criminal justice system either.”

But experts say this is just a colorful snapshot of the wider, darker realities of the U.S. college admissions system.

“This scandal is just the tip of the iceberg. The FBI said this scheme amounts to a ‘rigged system,’ but the truth is that the whole system of college admissions is rigged in favor of the wealthy,” Richard V. Reeves, senior fellow of Economic Studies and co-director of the Center on Children and Families at the Brookings Institute, tells CNBC Make It. “Most of the colleges targeted by the scheme take more students from families in the top 1 percent of the distribution than from the whole bottom half of the income ladder.”

Reeves, who is the author of “Dream Hoarders,” says that there are several legal —but still immoral — ways in which wealthy families give their children an unfair advantage.

“Legacy preferences hugely favor the wealthy, as do many preferences for certain athletic skills, musical abilities, and so on. The children of big donors seem to get an almost automatic admission,” says Reeves. “The difference between this illegal scheme and the legal ways in which money buys access is one of degree, not of kind.”

In a phone conversation recorded by the FBI, Singer acknowledged this reality by way of describing his services. “We help the wealthiest families in the U.S. get their kids into school. There is a front door which means you get in on your own. The back door is through institutional advancement, which is 10 times as much money,” he told one parent. “And I’ve created this side door in.”

Sandra Timmons, president of A Better Chance, an educational non-profit that serves students of color, expects more examples of admissions cheating to be revealed.

“We are encouraged to believe in a meritocracy. This scandal is disappointing in that it demonstrates so much of what is wrong with our college admissions process. It is shocking in its wide-ranging scope, and we know there’s more to come,” Timmons said in a statement. “It is heartbreaking for the many honest, hardworking students who want to believe in a level playing field.”


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: abigail hess, david l ryan the boston globe via getty images, reuters patrick t fallon
Keywords: news, cnbc, companies, door, system, say, experts, admissions, children, students, million, college, 25, wealthy, families, scheme, ways, scandal, iceberg, tip


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Watch two experts weigh in on Elizabeth Warren’s proposal to break up the big tech companies

Watch two experts weigh in on Elizabeth Warren’s proposal to break up the big tech companies5 Hours AgoEd Lee, media reporter for the New York Times, and Aneesh Chopra, the first chief technology officer of the United States and currently the president of data intelligence company CareJourney, join CNBC’s “SquawkBox” team to discuss Democratic 2020 candidate Senator Elizabeth Warren’s plan to break up the big tech companies.


Watch two experts weigh in on Elizabeth Warren’s proposal to break up the big tech companies5 Hours AgoEd Lee, media reporter for the New York Times, and Aneesh Chopra, the first chief technology officer of the United States and currently the president of data intelligence company CareJourney, join CNBC’s “SquawkBox” team to discuss Democratic 2020 candidate Senator Elizabeth Warren’s plan to break up the big tech companies.
Watch two experts weigh in on Elizabeth Warren’s proposal to break up the big tech companies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-12
Keywords: news, cnbc, companies, weigh, york, experts, warrens, big, companies, break, united, times, elizabeth, watch, tech, proposal


Watch two experts weigh in on Elizabeth Warren's proposal to break up the big tech companies

Watch two experts weigh in on Elizabeth Warren’s proposal to break up the big tech companies

5 Hours Ago

Ed Lee, media reporter for the New York Times, and Aneesh Chopra, the first chief technology officer of the United States and currently the president of data intelligence company CareJourney, join CNBC’s “SquawkBox” team to discuss Democratic 2020 candidate Senator Elizabeth Warren’s plan to break up the big tech companies.


Company: cnbc, Activity: cnbc, Date: 2019-03-12
Keywords: news, cnbc, companies, weigh, york, experts, warrens, big, companies, break, united, times, elizabeth, watch, tech, proposal


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‘Justice will have its day’: Beijing backs Huawei’s lawsuit against US government

Here’s what investors need to know 20 Hours Ago | 02:10″People can tell right and wrong, justice will have its day. Wang did not explain how being blocked from selling to the American government would prevent the company from innovating. Beijing has repeatedly suggested it’s because the world’s largest economy feels its business interests are threatened by the telecom — and Chinese technology more broadly. Huawei has continuously denied those claims, but intelligence experts who spoke to CNBC ha


Here’s what investors need to know 20 Hours Ago | 02:10″People can tell right and wrong, justice will have its day. Wang did not explain how being blocked from selling to the American government would prevent the company from innovating. Beijing has repeatedly suggested it’s because the world’s largest economy feels its business interests are threatened by the telecom — and Chinese technology more broadly. Huawei has continuously denied those claims, but intelligence experts who spoke to CNBC ha
‘Justice will have its day’: Beijing backs Huawei’s lawsuit against US government Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: arjun kharpal, joan cros, nurphoto, getty images, elizabeth schulze
Keywords: news, cnbc, companies, chinese, wang, justice, backs, huawei, right, intelligence, technology, interests, lawsuit, beijing, huaweis, day, experts, company, telecom


'Justice will have its day': Beijing backs Huawei's lawsuit against US government

Huawei is suing the US government for constitutional violations. Here’s what investors need to know 20 Hours Ago | 02:10

“People can tell right and wrong, justice will have its day. What we’re standing up for is not just the interests of a company, but also a country or nation’s legitimate right to innovate and by extension the basic right of all countries who wish to climb up the technology ladder,” Wang said.

Wang did not explain how being blocked from selling to the American government would prevent the company from innovating.

The commentary from Wang was the latest in a series of arguments from either Huawei or the Chinese government that the U.S. has engaged in a pre-meditated attack on the company. Beijing has repeatedly suggested it’s because the world’s largest economy feels its business interests are threatened by the telecom — and Chinese technology more broadly.

The U.S., however, has said that it is worried about the security risks posed by Huawei, alleging that the company’s equipment may contain backdoors that could be used by the Chinese government for espionage. Huawei has continuously denied those claims, but intelligence experts who spoke to CNBC have said there’s cause for skepticism about the company’s assurances it’s not a risk.

Experts point to Chinese laws that allegedly mean every domestic company is legally mandated to assist the country in intelligence gathering. China’s companies are also thought to be forbidden from talking about any intelligence work.

Huawei has argued that its absence from the U.S. telecom market could slow the rollout of next generation mobile network technology known as 5G and hurt consumers, claims experts have dismissed.

—CNBC’s Evelyn Cheng contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: arjun kharpal, joan cros, nurphoto, getty images, elizabeth schulze
Keywords: news, cnbc, companies, chinese, wang, justice, backs, huawei, right, intelligence, technology, interests, lawsuit, beijing, huaweis, day, experts, company, telecom


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‘Justice will have its day’: Beijing backs Huawei’s lawsuit against US government

Here’s what investors need to know 21 Hours Ago | 02:10″People can tell right and wrong, justice will have its day. Wang did not explain how being blocked from selling to the American government would prevent the company from innovating. Beijing has repeatedly suggested it’s because the world’s largest economy feels its business interests are threatened by the telecom — and Chinese technology more broadly. Huawei has continuously denied those claims, but intelligence experts who spoke to CNBC ha


Here’s what investors need to know 21 Hours Ago | 02:10″People can tell right and wrong, justice will have its day. Wang did not explain how being blocked from selling to the American government would prevent the company from innovating. Beijing has repeatedly suggested it’s because the world’s largest economy feels its business interests are threatened by the telecom — and Chinese technology more broadly. Huawei has continuously denied those claims, but intelligence experts who spoke to CNBC ha
‘Justice will have its day’: Beijing backs Huawei’s lawsuit against US government Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: arjun kharpal, joan cros, nurphoto, getty images, elizabeth schulze
Keywords: news, cnbc, companies, chinese, wang, justice, backs, huawei, right, intelligence, technology, interests, lawsuit, beijing, huaweis, day, experts, company, telecom


'Justice will have its day': Beijing backs Huawei's lawsuit against US government

Huawei is suing the US government for constitutional violations. Here’s what investors need to know 21 Hours Ago | 02:10

“People can tell right and wrong, justice will have its day. What we’re standing up for is not just the interests of a company, but also a country or nation’s legitimate right to innovate and by extension the basic right of all countries who wish to climb up the technology ladder,” Wang said.

Wang did not explain how being blocked from selling to the American government would prevent the company from innovating.

The commentary from Wang was the latest in a series of arguments from either Huawei or the Chinese government that the U.S. has engaged in a pre-meditated attack on the company. Beijing has repeatedly suggested it’s because the world’s largest economy feels its business interests are threatened by the telecom — and Chinese technology more broadly.

The U.S., however, has said that it is worried about the security risks posed by Huawei, alleging that the company’s equipment may contain backdoors that could be used by the Chinese government for espionage. Huawei has continuously denied those claims, but intelligence experts who spoke to CNBC have said there’s cause for skepticism about the company’s assurances it’s not a risk.

Experts point to Chinese laws that allegedly mean every domestic company is legally mandated to assist the country in intelligence gathering. China’s companies are also thought to be forbidden from talking about any intelligence work.

Huawei has argued that its absence from the U.S. telecom market could slow the rollout of next generation mobile network technology known as 5G and hurt consumers, claims experts have dismissed.

—CNBC’s Evelyn Cheng contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: arjun kharpal, joan cros, nurphoto, getty images, elizabeth schulze
Keywords: news, cnbc, companies, chinese, wang, justice, backs, huawei, right, intelligence, technology, interests, lawsuit, beijing, huaweis, day, experts, company, telecom


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ECB in panic mode? Experts warn it’ll take more than a central bank to help Europe recover

New monetary stimulus from the European Central Bank (ECB) will do “little” to boost the region’s sluggish economy and tackle its biggest risks, analysts told CNBC. ECB President Mario Draghi said that interest rates would remain at record lows at least until December. Growth forecasts for the euro zone were slashed for this year and new loans to euro zone banks were announced. “(The announcements) are also a bit of a gamble as they will do very little to tackle the biggest risks for the euro zo


New monetary stimulus from the European Central Bank (ECB) will do “little” to boost the region’s sluggish economy and tackle its biggest risks, analysts told CNBC. ECB President Mario Draghi said that interest rates would remain at record lows at least until December. Growth forecasts for the euro zone were slashed for this year and new loans to euro zone banks were announced. “(The announcements) are also a bit of a gamble as they will do very little to tackle the biggest risks for the euro zo
ECB in panic mode? Experts warn it’ll take more than a central bank to help Europe recover Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: silvia amaro, -christoph schon, executive director at axioma
Keywords: news, cnbc, companies, mode, stimulus, central, experts, tackle, euro, ecbs, warn, panic, told, risks, recover, europe, little, ecb, help, zone, economy, itll


ECB in panic mode? Experts warn it'll take more than a central bank to help Europe recover

New monetary stimulus from the European Central Bank (ECB) will do “little” to boost the region’s sluggish economy and tackle its biggest risks, analysts told CNBC.

“(The ECB’s) announcements have some flavor of panic as the ECB’s base case scenario still foresees a gradual recovery and the 2020 and 2021 forecasts were hardly revised downwards,” Carsten Brzeski, chief economist at ING Germany, said in a note Thursday.

The Frankfurt-based institution surprised markets with a renewed dovish tone. ECB President Mario Draghi said that interest rates would remain at record lows at least until December. Growth forecasts for the euro zone were slashed for this year and new loans to euro zone banks were announced.

“The measures as such are not such a big surprise but the timing of the announcement is,” Brzeski added. “(The announcements) are also a bit of a gamble as they will do very little to tackle the biggest risks for the euro zone economy, which according to the ECB stem from external sources.”

Draghi even acknowledged this fact in a press conference following the ECB’s formal rate decision on Thursday. “We are aware that our decisions (new stimulus) certainly increase the resilience of the euro zone economy, but actually can they address these factors that are weighing on the euro zone economy in the rest of the world? They cannot,” Draghi told reporters, adding that protectionism and geopolitics were among those outside risks.


Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: silvia amaro, -christoph schon, executive director at axioma
Keywords: news, cnbc, companies, mode, stimulus, central, experts, tackle, euro, ecbs, warn, panic, told, risks, recover, europe, little, ecb, help, zone, economy, itll


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May’s Brexit vote is ‘on a knife edge’: Here’s what experts predict will happen

If they vote against a “no-deal” Brexit, they’ll then have a vote on whether to extend Article 50 (which sets out the departure process) and delay Britain’s departure which is currently set to take place on March 29. May’s deal initially failed to win enough approval in Parliament because of widespread opposition to a key part of the deal known as the “Irish backstop,” an insurance policy designed to prevent a hard border between Northern Ireland and the Republic of Ireland if the EU and U.K. fa


If they vote against a “no-deal” Brexit, they’ll then have a vote on whether to extend Article 50 (which sets out the departure process) and delay Britain’s departure which is currently set to take place on March 29. May’s deal initially failed to win enough approval in Parliament because of widespread opposition to a key part of the deal known as the “Irish backstop,” an insurance policy designed to prevent a hard border between Northern Ireland and the Republic of Ireland if the EU and U.K. fa
May’s Brexit vote is ‘on a knife edge’: Here’s what experts predict will happen Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: holly ellyatt
Keywords: news, cnbc, companies, mays, vote, ireland, heres, happen, brexit, uk, experts, deal, predict, edge, departure, eu, knife, need, northern, backstop


May's Brexit vote is 'on a knife edge': Here's what experts predict will happen

If they vote against a “no-deal” Brexit, they’ll then have a vote on whether to extend Article 50 (which sets out the departure process) and delay Britain’s departure which is currently set to take place on March 29.

May’s deal initially failed to win enough approval in Parliament because of widespread opposition to a key part of the deal known as the “Irish backstop,” an insurance policy designed to prevent a hard border between Northern Ireland and the Republic of Ireland if the EU and U.K. fail to strike a trade deal in a 21-month transition period post-Brexit.

Many lawmakers didn’t like the fact that Northern Ireland could remain closely-aligned to the EU due to the backstop and that it had an indefinite nature. The U.K. would also need the EU’s agreement to leave the backstop.

WATCH: Brexit explained: What you need to know


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: holly ellyatt
Keywords: news, cnbc, companies, mays, vote, ireland, heres, happen, brexit, uk, experts, deal, predict, edge, departure, eu, knife, need, northern, backstop


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U.S. stocks are sinking on worries about Europe’s growth—here are 5 experts’ reactions

• UBS’ Art Cashin said Thursday’s drop was a sign “that things are slowing down. And this morning, when the market began to erode, they broke through those lows, and that’s when selling accelerated. You’ve got things like industrials taking part, financials, small-cap; that’s healthy for a market as well. I don’t think that we’re going to suffer from that. And I visited with him yesterday and I was very much reminded of that, and I think the U.S. absolutely can remain strong.


• UBS’ Art Cashin said Thursday’s drop was a sign “that things are slowing down. And this morning, when the market began to erode, they broke through those lows, and that’s when selling accelerated. You’ve got things like industrials taking part, financials, small-cap; that’s healthy for a market as well. I don’t think that we’re going to suffer from that. And I visited with him yesterday and I was very much reminded of that, and I think the U.S. absolutely can remain strong.
U.S. stocks are sinking on worries about Europe’s growth—here are 5 experts’ reactions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: lizzy gurdus, alexander shcherbak, tass, getty images, thomas lohnes, john greim, lightrocket, adam jeffery, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, sinking, worries, europes, bounce, thats, recession, reactions, growthhere, stocks, experts, good, europe, growth, things, think, dont, market


U.S. stocks are sinking on worries about Europe's growth—here are 5 experts' reactions

U.S. stocks took a hit Thursday on concerns around global growth after the European Central Bank cut its forecast for 2019 and announced plans to stimulate the European economy, but Wall Street experts say it’s not all bad.

Even as weaker growth and inflation in Europe typically don’t help the U.S. economy, some see the decision by ECB President Mario Draghi as a welcome reprieve for a U.S. stock market that has seen especially volatile trading in recent months.

Here are five experts’ takes on Thursday’s moves:

• Art Hogan, chief market strategist at National Securities, saw the action as the beginning of U.S. stocks digesting their recent rally: “Our clients very much are attuned to the fact that we went down too far, too fast in the fourth quarter of last year, particularly in December. So, therefore, that V-shaped recovery has probably been too quick. And I think we’re at a point where investors understand that when you move that quickly in one direction, you have to take some time to digest that move. I think we’re at that period now, so I’m not surprised at all [that we’re] finding ourselves spending some time between 2,750 and 2,800, unless and until we actually see the manifestation of good news coming out of the things we’ve started to price in, things like the trade war being over. We need to see that turn into good news and economic data.”

• UBS’ Art Cashin said Thursday’s drop was a sign “that things are slowing down. We’re getting more and more reports that this face-off between the U.S. and China is beginning to affect global trade as a whole, and Europe seems to be floundering a bit. You’ve got nothing good from Draghi. You’re at important technical levels. Monday, you had gone down and had a nice bounce. Yesterday, we retested those lows, but we didn’t get a bounce. And this morning, when the market began to erode, they broke through those lows, and that’s when selling accelerated. People said, ‘I don’t want this risk profile here.’ So, you went through 25,611 and now you’re trying to bounce off 25,360. And we’ll see. So far, it’s not terribly inspiring a bounce.”

• Liz Young, director of market strategy at BNY Mellon, said recession worries were probably overblown: “The data doesn’t go back very far, but since the ’70s, it’s never been the case that somebody else leads us into a global recession. The U.S. always leads that. So there’s no signs of recession in the U.S. right now, or at least very soft signs, and we’re not expecting that to come to fruition anytime soon. […] We had 70 percent of the market make a one-month high recently. … That doesn’t happen in a bear market. We’ve had [a] broadening of this rally. You’ve got things like industrials taking part, financials, small-cap; that’s healthy for a market as well. So we’re hoping that it continues to prod along. When a market is up 10, 11, 12 percent in two months, the first two months of the year, it was a lot easier to make a case for it to pull back.”

• Gilman Hill Asset Management’s Jenny Harrington agreed, contending that maybe it’s time for the U.S. market to simply “bump along” for a while: “I think we can make new highs. They just don’t have to be made every day. […] I don’t see it as a storm gathering in Europe. There’s still positive growth, expectations. Yeah, it’s almost nothing. It’s, like, 1 percent. But you have the ECB really working hard to protect the banks and to protect the economy, I think, in a way that they hadn’t done in past recessions in Europe. So … I don’t think that we’re going to suffer from that. I’m just reminded of one quick thing: I have this wonderful client, an older British guy, and he always says, ‘One bets against the U.S. at one’s own peril.’ And I visited with him yesterday and I was very much reminded of that, and I think the U.S. absolutely can remain strong. I think that earnings were down in the first quarter [and] I think that estimates could pick up towards [the] later half of the year.”

• Jon Najarian, of the Najarian Family Office, backed up those points, calling the ECB’s forecast cut a “short-term negative”: “People weren’t sure that this would be a move that he would make and that the ECB in general would push for this. Now that they have and they’ve put it in writing, held a press conference, talked about it, I think, overall, that’s going to be a good thing for Europe. It might not be good for some of the debt that they’re building up with it, but just like our debt, they’re not thinking about that right now.”


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: lizzy gurdus, alexander shcherbak, tass, getty images, thomas lohnes, john greim, lightrocket, adam jeffery, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, sinking, worries, europes, bounce, thats, recession, reactions, growthhere, stocks, experts, good, europe, growth, things, think, dont, market


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A serious shortage of cybersecurity experts could cost companies hundreds of millions of dollars

In the first half of 2018 alone, more than four billion records were compromised to data breaches. That comes at a heavy price, according to a 2018 study by IBM and the Ponemon Institute. The average data breach cost companies $3.86 million, the study found, and large-scale breaches can hit $350 million. Against that backdrop, companies are eager to hire cybersecurity experts to guard against those risks. “I always say that cybersecurity professionals are like physicians, in that they have to sp


In the first half of 2018 alone, more than four billion records were compromised to data breaches. That comes at a heavy price, according to a 2018 study by IBM and the Ponemon Institute. The average data breach cost companies $3.86 million, the study found, and large-scale breaches can hit $350 million. Against that backdrop, companies are eager to hire cybersecurity experts to guard against those risks. “I always say that cybersecurity professionals are like physicians, in that they have to sp
A serious shortage of cybersecurity experts could cost companies hundreds of millions of dollars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: shirley tay, jack guez, afp, getty images
Keywords: news, cnbc, companies, security, companies, research, dollars, millions, cost, study, million, cybersecurity, professionals, data, serious, according, hundreds, shortage, experts, oltsik


A serious shortage of cybersecurity experts could cost companies hundreds of millions of dollars

Attempted cyberattacks are no longer an “if,” but a “when.” And, for many companies, hackers will win.

In the first half of 2018 alone, more than four billion records were compromised to data breaches.

That comes at a heavy price, according to a 2018 study by IBM and the Ponemon Institute. The average data breach cost companies $3.86 million, the study found, and large-scale breaches can hit $350 million.

Against that backdrop, companies are eager to hire cybersecurity experts to guard against those risks. The problem: There aren’t nearly enough people who can fill those roles.

The demand for skilled security professionals is one of the biggest challenges facing the cybersecurity industry today, with 2.93 million positions open and unfilled around the world, according to non-profit IT security organization (ISC)².

Without trained security staff, organizations don’t have the capability to deploy the right controls or develop specific security processes to detect and prevent cyberattacks, according to Jon Oltsik, senior principal analyst at IT research firm Enterprise Strategy Group. On top of that, current employees face the challenge of an ever-shifting industry.

“I always say that cybersecurity professionals are like physicians, in that they have to spend ample time studying the latest research and threat intelligence,” said Oltsik


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: shirley tay, jack guez, afp, getty images
Keywords: news, cnbc, companies, security, companies, research, dollars, millions, cost, study, million, cybersecurity, professionals, data, serious, according, hundreds, shortage, experts, oltsik


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Huawei ban won’t make the US fall behind in 5G: Experts

The United States won’t fall behind in the introduction of next-generation 5G mobile networks if Huawei stays banned there, experts told CNBC, though smaller countries and potentially even Europe could suffer from reduced competition. Chinese telecommunications equipment giant Huawei — along with China’s state media — have argued that banning Huawei will reduce competition, increase the cost of 5G networking hardware, and slow the introduction of the critical, high-speed technology. Eric Xu, one


The United States won’t fall behind in the introduction of next-generation 5G mobile networks if Huawei stays banned there, experts told CNBC, though smaller countries and potentially even Europe could suffer from reduced competition. Chinese telecommunications equipment giant Huawei — along with China’s state media — have argued that banning Huawei will reduce competition, increase the cost of 5G networking hardware, and slow the introduction of the critical, high-speed technology. Eric Xu, one
Huawei ban won’t make the US fall behind in 5G: Experts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: arjun kharpal, elizabeth schulze, -shaun collins, chief executive officer, ccs insight
Keywords: news, cnbc, companies, wont, huawei, fall, told, europe, worlds, introduction, 5g, xu, ban, experts


Huawei ban won't make the US fall behind in 5G: Experts

The United States won’t fall behind in the introduction of next-generation 5G mobile networks if Huawei stays banned there, experts told CNBC, though smaller countries and potentially even Europe could suffer from reduced competition.

Chinese telecommunications equipment giant Huawei — along with China’s state media — have argued that banning Huawei will reduce competition, increase the cost of 5G networking hardware, and slow the introduction of the critical, high-speed technology.

Eric Xu, one of Huawei’s rotating chairmen, told CNBC in November that a continuing ban of Huawei gear from the U.S. market will lead to the world’s biggest economy to fall behind in the 5G race. Meanwhile, Chinese state-backed publication Global Times said in an op-ed last month that Europe also would lag in 5G if Huawei were blocked there.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: arjun kharpal, elizabeth schulze, -shaun collins, chief executive officer, ccs insight
Keywords: news, cnbc, companies, wont, huawei, fall, told, europe, worlds, introduction, 5g, xu, ban, experts


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