Boeing to expand 737 Max inspections, sources say

In this Monday, Dec. 16, 2019, file photo, a Boeing worker walks in view of a 737 MAX jet in Renton, Wash. Teams looking in the fuel tanks of brand new Boeing 737 Max planes for foreign object debris will expand their inspections, sources familiar with the checks told CNBC on Friday. The expanded inspections are the result of teams finding debris in about two-thirds of the 737 Max models that have been checked, the sources told CNBC. The news, first reported by Dow Jones on Friday, is the latest


In this Monday, Dec. 16, 2019, file photo, a Boeing worker walks in view of a 737 MAX jet in Renton, Wash.
Teams looking in the fuel tanks of brand new Boeing 737 Max planes for foreign object debris will expand their inspections, sources familiar with the checks told CNBC on Friday.
The expanded inspections are the result of teams finding debris in about two-thirds of the 737 Max models that have been checked, the sources told CNBC.
The news, first reported by Dow Jones on Friday, is the latest
Boeing to expand 737 Max inspections, sources say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: phil lebeau
Keywords: news, cnbc, companies, 737, say, max, object, following, inspections, sources, boeing, debris, told, expand, foreign


Boeing to expand 737 Max inspections, sources say

In this Monday, Dec. 16, 2019, file photo, a Boeing worker walks in view of a 737 MAX jet in Renton, Wash.

Teams looking in the fuel tanks of brand new Boeing 737 Max planes for foreign object debris will expand their inspections, sources familiar with the checks told CNBC on Friday.

The expanded inspections are the result of teams finding debris in about two-thirds of the 737 Max models that have been checked, the sources told CNBC.

The news, first reported by Dow Jones on Friday, is the latest indication Boeing continues to wrestle with issues involving the Max.

The plane has been grounded by regulators around the world since March of last year following two crashes that killed 346 people.

Boeing released the following statement regarding the initial checks for foreign object debris, commonly referred to as FOD, in more than 400 new, but not yet delivered Max planes:

“We are taking steps to make sure we eliminate FOD from any and all aircraft. This is unacceptable and won’t be tolerated on any Boeing aircraft when it’s delivered to the customer.”


Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: phil lebeau
Keywords: news, cnbc, companies, 737, say, max, object, following, inspections, sources, boeing, debris, told, expand, foreign


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Beyond the S&P 500 — strategist says these foreign markets could offer major returns

The broad-based S&P 500 and tech-focused Nasdaq hit all-time highs on Wednesday as fears over the coronavirus outbreak began to recede and the bulls rushed back in. But after a steep run to records for U.S. markets, some strategists are looking farther afield for value. “The stock market, the bond market, and the dollar are all up in value because we’re dealing with this virus outbreak uncertainty still. Yet, there’s value in the foreign markets, particularly when you’re looking at the markets t


The broad-based S&P 500 and tech-focused Nasdaq hit all-time highs on Wednesday as fears over the coronavirus outbreak began to recede and the bulls rushed back in.
But after a steep run to records for U.S. markets, some strategists are looking farther afield for value.
“The stock market, the bond market, and the dollar are all up in value because we’re dealing with this virus outbreak uncertainty still.
Yet, there’s value in the foreign markets, particularly when you’re looking at the markets t
Beyond the S&P 500 — strategist says these foreign markets could offer major returns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-20  Authors: keris lahiff, ivana freitas
Keywords: news, cnbc, companies, offer, 500, china, foreign, value, returns, week, outbreak, virus, markets, think, global, stocks, strategist, major, records


Beyond the S&P 500 — strategist says these foreign markets could offer major returns

U.S. markets have stretched to records again.

The broad-based S&P 500 and tech-focused Nasdaq hit all-time highs on Wednesday as fears over the coronavirus outbreak began to recede and the bulls rushed back in.

But after a steep run to records for U.S. markets, some strategists are looking farther afield for value.

“The stock market, the bond market, and the dollar are all up in value because we’re dealing with this virus outbreak uncertainty still. Yet, there’s value in the foreign markets, particularly when you’re looking at the markets that are driven by the virus outbreak locally, and that’s particularly the Asia-Pacific markets,” Ben Emons, managing director of global macro strategy at Medley Global Advisors.

The FXI China large-cap ETF, the largest of the China ETFs, declined 13% from a mid-January peak to the end of January. Since the outbreak has intensified, however, it has managed to climb 7%. China has been the hardest hit by the virus with more than 74,000 confirmed cases.

“Look at all the stimulus that [China is] putting in the system there, and the countermeasures that they’re taking, I think we’re setting ourselves up for really relative value opportunities,” said Emons.

China’s central bank cut its interest rate on medium-term loans earlier this week to alleviate some of the economic pressure caused by the coronavirus. The People’s Bank of China also lowered interest rates on reverse repurchase agreements earlier in the month.

Still, Emons says the markets aren’t in panic mode even as the spread of the virus keeps investors on edge.

“We know that this is still playing out and we’ll see the data coming out this week and earnings data going forward. But I do think that the financial markets in general have viewed this virus outbreak not as a financial crisis but more like an economic challenge and I think the challenge in these countries has been taken head-on,” said Emons.

Emons adds that opportunities can be found outside China — he also likes South Korea, Singapore, Australia, New Zealand, Indonesia and the Philippines as top investments.

“With stocks, bonds and currency “relatively undervalued” to the U.S., the average triple return investors can gain is close to 25% (20% stocks, 4% currency and 1% bonds),” he said in an email to “Trading Nation.”

Emons believes in a 60-40 global portfolio where the majority is invested in foreign assets and the remaining 40% in U.S. assets.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2020-02-20  Authors: keris lahiff, ivana freitas
Keywords: news, cnbc, companies, offer, 500, china, foreign, value, returns, week, outbreak, virus, markets, think, global, stocks, strategist, major, records


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China revokes press credentials of three at Wall Street Journal over opinion piece

China has revoked the press credentials of three journalists of the Wall Street Journal after the newspaper declined to apologize for a column that called China the “real sick man of Asia”, the foreign ministry said on Wednesday. Geng did not identify the journalists whose credentials were being revoked. Reuters could not immediately reach the Wall Street Journal for comment. The action comes after the United States said on Tuesday it would begin treating five major Chinese state-run media entit


China has revoked the press credentials of three journalists of the Wall Street Journal after the newspaper declined to apologize for a column that called China the “real sick man of Asia”, the foreign ministry said on Wednesday.
Geng did not identify the journalists whose credentials were being revoked.
Reuters could not immediately reach the Wall Street Journal for comment.
The action comes after the United States said on Tuesday it would begin treating five major Chinese state-run media entit
China revokes press credentials of three at Wall Street Journal over opinion piece Cached Page below :
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China revokes press credentials of three at Wall Street Journal over opinion piece

China has revoked the press credentials of three journalists of the Wall Street Journal after the newspaper declined to apologize for a column that called China the “real sick man of Asia”, the foreign ministry said on Wednesday.

Spokesman Geng Shuang told a daily briefing that Beijing made several representations to the paper over the column, which China criticized as racist and denigrating its efforts to combat the coronavirus epidemic, but that the paper had failed to apologize or investigate those responsible.

Geng did not identify the journalists whose credentials were being revoked.

Reuters could not immediately reach the Wall Street Journal for comment.

The action comes after the United States said on Tuesday it would begin treating five major Chinese state-run media entities with U.S. operations, including Xinhua News Agency, China Global Television Network and China Daily Distribution Corp the same as foreign embassies, requiring them to register employees and U.S. properties with the State Department.

Geng told reporters that China opposed the new rules and Beijing reserved the right to respond.


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Boeing to inspect undelivered 737 Maxes for foreign object debris

Boeing has told employees that it discovered foreign-object debris in fuel tanks of “several” 737 Max planes the manufacturer has in storage, CNBC learned Tuesday. Foreign object debris “is absolutely unacceptable,” Boeing Commercial Airplanes executive Mark Jenks, a vice president and general manager of the 737 program and Renton production facility, according to the company’s website, said in a note to employees. The company plans to investigate the foreign objects in the tanks and said that t


Boeing has told employees that it discovered foreign-object debris in fuel tanks of “several” 737 Max planes the manufacturer has in storage, CNBC learned Tuesday.
Foreign object debris “is absolutely unacceptable,” Boeing Commercial Airplanes executive Mark Jenks, a vice president and general manager of the 737 program and Renton production facility, according to the company’s website, said in a note to employees.
The company plans to investigate the foreign objects in the tanks and said that t
Boeing to inspect undelivered 737 Maxes for foreign object debris Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-18  Authors: phil lebeau
Keywords: news, cnbc, companies, airlines, tanks, schedules, boeing, inspect, regulators, debris, max, foreign, object, undelivered, 737, return, planes, production, maxes


Boeing to inspect undelivered 737 Maxes for foreign object debris

Boeing has told employees that it discovered foreign-object debris in fuel tanks of “several” 737 Max planes the manufacturer has in storage, CNBC learned Tuesday.

Foreign object debris “is absolutely unacceptable,” Boeing Commercial Airplanes executive Mark Jenks, a vice president and general manager of the 737 program and Renton production facility, according to the company’s website, said in a note to employees. “One escape is one too many.

“With your help and focus, we will eliminate FOD from our production system,” he wrote.

The company plans to investigate the foreign objects in the tanks and said that the discovery won’t impact the plane’s return to service.

“The success of this initiative is dependent on you. We need our entire team to make this a priority. Thank you for your commitment to put safety, quality and integrity into everything we do,” Jenks wrote.

Boeing also plans to inspect all undelivered 737 Max planes. Boeing produced some 400 Max planes since the grounding last year until it halted production last month. The company suspended delivery of the new planes after regulators grounded them worldwide in March after two fatal crashes — in Indonesia in October 2018 and in Ethiopia less than five months later — killed all 346 people on the two flights.

While regulators and Boeing work on resolving issues with the Max that still need to be fixed, no U.S. carrier currently expects the planes to return in time for most of the peak summer travel season.

United Airlines pulled the Max from its schedule until Sept. 4. Meanwhile Southwest Airlines, which had operated more Max planes than any other U.S. airline, removed the jetliners from its schedules through Aug. 10 and American Airlines adjusted its schedules to remove the Max through Aug. 17.


Company: cnbc, Activity: cnbc, Date: 2020-02-18  Authors: phil lebeau
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Iran’s foreign minister blames Trump’s advisors for ‘very dangerous moment’ in relations with the US

Thomas Kienzle | AFP via Getty ImagesMUNICH — Iranian foreign minister Mohammad Javad Zarif called the deadly U.S. strike on Iran’s top military leader an “act of terror” and blamed President Donald Trump’s advisors. “This moment is a very dangerous moment because the United States has been misled. I believe President Trump, unfortunately, does not have good advisers,” Zarif told an audience Saturday during a discussion at the Munich Security Conference. “The United States conducts operations an


Thomas Kienzle | AFP via Getty ImagesMUNICH — Iranian foreign minister Mohammad Javad Zarif called the deadly U.S. strike on Iran’s top military leader an “act of terror” and blamed President Donald Trump’s advisors.
“This moment is a very dangerous moment because the United States has been misled.
I believe President Trump, unfortunately, does not have good advisers,” Zarif told an audience Saturday during a discussion at the Munich Security Conference.
“The United States conducts operations an
Iran’s foreign minister blames Trump’s advisors for ‘very dangerous moment’ in relations with the US Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: amanda macias
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Iran's foreign minister blames Trump's advisors for 'very dangerous moment' in relations with the US

Iran’s Foreign Minister Mohammad Javad Zarif takes part in the panel discussion ‘A conversation with Iran’ during the 56th Munich Security Conference in Munich on February 15, 2020. Thomas Kienzle | AFP via Getty Images

MUNICH — Iranian foreign minister Mohammad Javad Zarif called the deadly U.S. strike on Iran’s top military leader an “act of terror” and blamed President Donald Trump’s advisors. “This moment is a very dangerous moment because the United States has been misled. I believe President Trump, unfortunately, does not have good advisers,” Zarif told an audience Saturday during a discussion at the Munich Security Conference. “Unfortunately somebody else is trying to mimic John Bolton and promised the president that killing Soleimani would bring people to dance in the streets in Tehran and Baghdad. And that the continuation of maximum pressure would bring us to our knees before his reelection campaign,” he said, adding that none of it came to pass.

Iranian mourners gather during the final stage of funeral processions for slain top general Qasem Soleimani, in his hometown Kerman on January 7, 2020. Atta Kenare | AFP | Getty Images

“That was an act of terror,” he said of the Jan. 2 strike that killed Gen. Qasem Soleimani, a key military figure of Iranian and Middle East politics. “The United States conducts operations and wants to be immune from the consequences, that doesn’t happen,” he added. On the heels of the strike, Iran launched at least a dozen missiles from its territory on Jan. 7 at two military bases in Iraq that house U.S. troops and coalition forces. A day later from the White House, Trump said that Iran appeared “to be standing down” and warned Tehran to abandon its nuclear ambitions. “As long as I am president of the United States, Iran will never be allowed to have a nuclear weapon,” Trump said speaking from the grand foyer of the White House. But he suggested that the U.S. is open to negotiations with Tehran. “We must all work together toward making a deal with Iran that makes the world a safer and more peaceful place,” he said on Jan. 8. He then urged other world powers to break away from the Obama-era nuclear agreement with Iran and work out a new deal.


Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: amanda macias
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Iran’s foreign minister blames US and Saudi Arabia for rising tensions in the Gulf

Iran’s Foreign Minister Mohammad Javad Zarif takes part in the panel discussion ‘A conversation with Iran’ during the 56th Munich Security Conference in Munich on February 15, 2020. MUNICH — Iran’s Foreign Minister Mohammad Javad Zarif said that when it comes to the rising tensions in the Gulf, the United States and Saudi Arabia are to blame. “I believe our neighbors, especially Saudi Arabia, do not want to (de-escalate),” Zarif said Saturday when asked about the status of the relationship at th


Iran’s Foreign Minister Mohammad Javad Zarif takes part in the panel discussion ‘A conversation with Iran’ during the 56th Munich Security Conference in Munich on February 15, 2020.
MUNICH — Iran’s Foreign Minister Mohammad Javad Zarif said that when it comes to the rising tensions in the Gulf, the United States and Saudi Arabia are to blame.
“I believe our neighbors, especially Saudi Arabia, do not want to (de-escalate),” Zarif said Saturday when asked about the status of the relationship at th
Iran’s foreign minister blames US and Saudi Arabia for rising tensions in the Gulf Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: amanda macias
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Iran's foreign minister blames US and Saudi Arabia for rising tensions in the Gulf

Iran’s Foreign Minister Mohammad Javad Zarif takes part in the panel discussion ‘A conversation with Iran’ during the 56th Munich Security Conference in Munich on February 15, 2020.

MUNICH — Iran’s Foreign Minister Mohammad Javad Zarif said that when it comes to the rising tensions in the Gulf, the United States and Saudi Arabia are to blame.

“I believe our neighbors, especially Saudi Arabia, do not want to (de-escalate),” Zarif said Saturday when asked about the status of the relationship at the Munich Security Conference. He added that he suspected Riyadh was operating under the influence of the Trump administration’s “maximum pressure campaign” on Iran.

Zarif also accused his Saudi counterpart Prince Faisal bin Farhan Al Saud, who attended the Munich Security Conference as well, of reshuffling the security forum’s agenda so that the two of them wouldn’t have to meet.

Prince Faisal reaffirmed, less than an hour after Zarif spoke, that the Kingdom of Saudi Arabia would not hold meetings with Iran until the regime takes responsibility for its malign activities in the region.

“Our message to Iran is to change its behavior first before anything is to be discussed,” the Saudi prince said during a discussion at the conference. “Until we can talk about the real sources of that instability, talk is going to be unproductive,” he added.

Tensions in the Gulf took an anxious turn last month when the U.S. conducted a deadly strike on Iran’s top military leader. The Jan. 2 strike that killed Gen. Qasem Soleimani, a key military figure of Iranian and Middle East politics, followed a string of attacks on locations that hosted U.S. and coalition forces, including the U.S. Embassy in Baghdad.

On the heels of Soleimani’s death, Iran launched at least a dozen missiles from its territory on Jan. 7 at two military bases in Iraq that house U.S. troops and coalition forces.

A day later from the White House, Trump said that Iran appeared “to be standing down” and warned Tehran to abandon its nuclear ambitions.

“As long as I am president of the United States, Iran will never be allowed to have a nuclear weapon,” Trump said speaking from the grand foyer of the White House.

But he suggested that the U.S. is open to negotiations with Tehran. “We must all work together toward making a deal with Iran that makes the world a safer and more peaceful place,” he said on Jan. 8. He then urged other world powers to break away from the Obama-era nuclear agreement with Iran and work out a new deal.

Read more: Iran’s foreign minister blames Trump’s advisors for ‘very dangerous moment’ in relations with the US

The tit-for-tat strikes follow what the U.S. called an Iranian attack on the world’s largest crude-processing plant and oil field.

Last summer, the U.S. blamed Iran for the predawn strikes in Saudi Arabia that forced the kingdom to shut down half its production operations. The event triggered the largest spike in crude prices in decades and renewed concerns of a budding conflict in the Middle East. Iran maintains that it was not behind the attacks.

In September, Saudi Arabia’s defense ministry said drone and missile debris recovered by investigators shows Iranian culpability. Saudi coalition spokesman Col. Turki al-Maliki said during a press briefing in Riyadh that all military components retrieved from the oil facilities “point to Iran.”

Read more: Attack on Saudi Arabian oil facilities was ‘sophisticated’ and had a ‘dramatic impact on global markets,’ Pentagon says

Tensions between Tehran and Washington have soared following Trump’s withdrawal from the landmark Iran nuclear deal brokered by the Obama administration.

The 2015 nuclear agreement lifted sanctions on Iran that crippled its economy and cut its oil exports roughly in half. In exchange for sanctions relief, Iran accepted limits on its nuclear program and allowed international inspectors into its facilities.

And while Trump’s “maximum pressure” policy has crippled Iran’s economy, slashing its oil exports, Tehran has said it will not negotiate with Washington while sanctions are in place.


Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: amanda macias
Keywords: news, cnbc, companies, saudi, zarif, arabia, foreign, gulf, rising, blames, tehran, security, munich, iran, nuclear, oil, military, irans, minister, tensions


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US officials’ warnings about China are ‘lies, not based on facts,’ foreign minister says

MUNICH — China’s Foreign Minister Wang Yi said Saturday that U.S. criticisms of Beijing were “lies” and blamed Washington for the tumultuous relationship between the world’s two largest economies. Wang’s comments at the Munich Security Conference followed those of Secretary of State Mike Pompeo and Secretary of Defense Mark Esper, both delivering back-to-back speeches accusing China of malign activities. And on that point, China has had a border or maritime dispute with nearly every nation borde


MUNICH — China’s Foreign Minister Wang Yi said Saturday that U.S. criticisms of Beijing were “lies” and blamed Washington for the tumultuous relationship between the world’s two largest economies.
Wang’s comments at the Munich Security Conference followed those of Secretary of State Mike Pompeo and Secretary of Defense Mark Esper, both delivering back-to-back speeches accusing China of malign activities.
And on that point, China has had a border or maritime dispute with nearly every nation borde
US officials’ warnings about China are ‘lies, not based on facts,’ foreign minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-16  Authors: amanda macias
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US officials' warnings about China are 'lies, not based on facts,' foreign minister says

MUNICH — China’s Foreign Minister Wang Yi said Saturday that U.S. criticisms of Beijing were “lies” and blamed Washington for the tumultuous relationship between the world’s two largest economies.

“The root cause of all these problems and issues is that the U.S. does not want to see rapid development and rejuvenation of China, still less would they want to accept the success of a socialist country, but that is not fair, China has the right to develop,” Wang said during a discussion at the Munich Security Conference.

“China’s drive towards modernization is an inevitable trend of history and will not be held back or stopped by any force in the world because it represents the direction of human progress,” he added.

Wang’s comments at the Munich Security Conference followed those of Secretary of State Mike Pompeo and Secretary of Defense Mark Esper, both delivering back-to-back speeches accusing China of malign activities.

“China encroaches on the exclusive economic zones of Vietnam, the Philippines, and Indonesia. And on that point, China has had a border or maritime dispute with nearly every nation bordering it,” Pompeo told an audience at the security forum. “And let’s talk for a second about the other realm, cybersecurity. Huawei and other Chinese state-backed tech companies are Trojan horses for Chinese intelligence,” he added.

Esper said Beijing was caring out a “nefarious strategy” through telecommunications firm Huawei. “It is essential that we as an international community wake up to the challenges presented by Chinese manipulation of the long-standing international rules-based order,” he warned.


Company: cnbc, Activity: cnbc, Date: 2020-02-16  Authors: amanda macias
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China’s foreign minister denies major risks to Chinese economy as cases surge past 66,000

Wang Yi, Foreign Minister of China, speaks on the second day of the 56th Munich Security Conference. MUNICH — China’s Foreign Minister said Saturday that the Chinese economy — the second-largest in the world — will emerge stronger from the deadly coronavirus outbreak, even as confirmed cases of the disease surge past 66,000. Its pent up consumer demand and growth potential will be quickly unleashed and China will enjoy evermore sound and sustainable economic and social development,” Chinese Fore


Wang Yi, Foreign Minister of China, speaks on the second day of the 56th Munich Security Conference.
MUNICH — China’s Foreign Minister said Saturday that the Chinese economy — the second-largest in the world — will emerge stronger from the deadly coronavirus outbreak, even as confirmed cases of the disease surge past 66,000.
Its pent up consumer demand and growth potential will be quickly unleashed and China will enjoy evermore sound and sustainable economic and social development,” Chinese Fore
China’s foreign minister denies major risks to Chinese economy as cases surge past 66,000 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: amanda macias natasha turak, amanda macias, natasha turak
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China's foreign minister denies major risks to Chinese economy as cases surge past 66,000

Wang Yi, Foreign Minister of China, speaks on the second day of the 56th Munich Security Conference.

MUNICH — China’s Foreign Minister said Saturday that the Chinese economy — the second-largest in the world — will emerge stronger from the deadly coronavirus outbreak, even as confirmed cases of the disease surge past 66,000.

“We are confident that China will emerge stronger from the epidemic. Its pent up consumer demand and growth potential will be quickly unleashed and China will enjoy evermore sound and sustainable economic and social development,” Chinese Foreign Minister Wang Yi told an audience at the Munich Security Conference.

“The Chinese economy is well-positioned to overcome all risks and challenges. The fundamentals sustaining sound economic growth have not changed and will not change,” he added.

The flu-like virus, now named COVID-19, has killed more than 1,500 people and sickened more than 66,400 worldwide, the vast majority in China.

Since the deadly outbreak, Wang is the first Chinese senior official to travel overseas. His comments come on the heels of the first coronavirus death confirmed in Europe, an elderly Chinese tourist who was hospitalized in late January. On Saturday, the U.S. State Department announced it would evacuate American citizens stuck aboard the Diamond Princess cruise ship that’s been quarantined off the coast of Japan and is the largest cluster of infected people outside China, with 285 confirmed cases out of 3,500 passengers and crew.

Economists have warned of a potential technical recession in China as productivity across much of the country grinds to a halt and factories and businesses stay closed while the government instructs people to stay home. The more than 20 Chinese provinces put under effective lockdown accounted for over 80% of national GDP last year.

The state has had to step in to provide some economic relief. The People’s Bank of China has announced it will provide 300 billion yuan in low-cost loans for banks to lend to businesses affected by the virus. Several municipal and provincial governments have also announced measures for supporting small and medium-sized enterprises.

While the majority of confirmed coronavirus cases are in mainland China, the virus has also been identified in Japan, South Korea, Taiwan, Thailand, Vietnam, Philippines, India, Singapore, Nepal, Hong Kong, Macao, Cambodia, Malaysia, Sri Lanka, Italy, France, Germany, Russia, Spain, Belgium, Finland, Sweden, Australia, Canada, the United Arab Emirates, the United States and the United Kingdom.

—CNBC’s Natasha Turak contributed to this report from Dubai and Evelyn Cheng contributed reporting from Beijing.


Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: amanda macias natasha turak, amanda macias, natasha turak
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German president slams Trump’s ‘America First’ foreign policy in front of Pompeo and Esper

German President Frank-Walter Steinmeier addresses the opening speech of the 56th Munich Security Conference in Munich, southern Germany, on February 14, 2020. “Our closest ally, the United States of America, under the current administration, rejects the very concept of the international community,” he said. In his opening remarks, German President Frank-Walter Steinmeier warned that the United States would put its own interests first at the expense of allies. MUNICH — Germany’s president kicked


German President Frank-Walter Steinmeier addresses the opening speech of the 56th Munich Security Conference in Munich, southern Germany, on February 14, 2020.
“Our closest ally, the United States of America, under the current administration, rejects the very concept of the international community,” he said.
In his opening remarks, German President Frank-Walter Steinmeier warned that the United States would put its own interests first at the expense of allies.
MUNICH — Germany’s president kicked
German president slams Trump’s ‘America First’ foreign policy in front of Pompeo and Esper Cached Page below :
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German president slams Trump's 'America First' foreign policy in front of Pompeo and Esper

German President Frank-Walter Steinmeier addresses the opening speech of the 56th Munich Security Conference in Munich, southern Germany, on February 14, 2020.

“Our closest ally, the United States of America, under the current administration, rejects the very concept of the international community,” he said. “‘Great again’ but at the expense of neighbors and partners,” Steinmeier added without naming Trump but referring to his “Make America Great Again” campaign slogan.

In his opening remarks, German President Frank-Walter Steinmeier warned that the United States would put its own interests first at the expense of allies.

MUNICH — Germany’s president kicked off the annual Munich Security Conference on Friday by taking a swipe at President Donald Trump’s “America First” foreign policy approach.

“Thinking and acting this way hurts us all,” he said.

Listening to Steinmeier’s speech, delivered at the 56th Munich Security Conference, were Secretary of State Mike Pompeo, Secretary of Defense Mark Esper, Speaker of the House Nancy Pelosi, Sen. Lindsey Graham and Rep. Adam Schiff along with other representatives, making it the largest U.S. delegation to attend the forum.

Read more: Nuclear weapons and 5G among national security topics at Munich Security Conference

Steinmeier also accused Russia and China of amplifying global insecurity in pursuit of “great power” competition.

“In this scenario, the security of one is the insecurity of others,” he said, adding that European leaders must create a unified policy to deal with increasing threats posed by Russia and China.

The former German foreign minister also placed emphasis on the importance of NATO, the world’s most powerful military alliance, which has been frequently dressed down by Trump.

In December, Trump reiterated at the NATO leaders meeting that too many members were still not paying enough and threatened to reduce U.S. military support if allies do not increase spending.

At the meeting in London, Trump singled out German Chancellor Angela Merkel for not meeting the 2% of GDP spending goal set in the 2014 NATO summit in Wales.

Read more: What each NATO country contributes financially to the world’s strongest military alliance

“So we’re paying 4[%] to 4.3% when Germany’s paying 1[%] to 1.2% at max 1.2% of a much smaller GDP. That’s not fair,” Trump said at the time.

Germany is only one of 19 NATO members that have not met the 2% GDP spending goal set at the 2014 summit.

Steinmeier said that while Germany should continue to raise its defense spending, it should not be “the be-all end-all for our security.”


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: amanda macias
Keywords: news, cnbc, companies, spending, president, paying, steinmeier, military, policy, munich, slams, trumps, foreign, america, security, trump, nato, esper, german, pompeo


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Chinese foreign minister attends Munich Security Conference amid coronavirus outbreak

Chinese Foreign Minister Wang Yi speaks at a news conference after restoring diplomatic ties with Kiribati on the sidelines of the United Nations General Assembly in New York, U.S. September 27, 2019. MUNICH — Chinese Foreign Minister Wang Yi will travel to Germany this weekend to discuss the outbreak of the deadly coronavirus, among other national security issues. Wang is slated to give a keynote speech at the annual Munich Security Conference, which begins Friday and runs through Sunday. Follo


Chinese Foreign Minister Wang Yi speaks at a news conference after restoring diplomatic ties with Kiribati on the sidelines of the United Nations General Assembly in New York, U.S. September 27, 2019.
MUNICH — Chinese Foreign Minister Wang Yi will travel to Germany this weekend to discuss the outbreak of the deadly coronavirus, among other national security issues.
Wang is slated to give a keynote speech at the annual Munich Security Conference, which begins Friday and runs through Sunday.
Follo
Chinese foreign minister attends Munich Security Conference amid coronavirus outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: amanda macias
Keywords: news, cnbc, companies, attends, minister, munich, united, outbreak, coronavirus, official, deadly, foreign, chinese, amid, virus, security, wang, trip, china, conference


Chinese foreign minister attends Munich Security Conference amid coronavirus outbreak

Chinese Foreign Minister Wang Yi speaks at a news conference after restoring diplomatic ties with Kiribati on the sidelines of the United Nations General Assembly in New York, U.S. September 27, 2019.

MUNICH — Chinese Foreign Minister Wang Yi will travel to Germany this weekend to discuss the outbreak of the deadly coronavirus, among other national security issues.

Wang is slated to give a keynote speech at the annual Munich Security Conference, which begins Friday and runs through Sunday.

He is expected to discuss Beijing’s efforts to contain the flu-like virus, now named COVID-19. The virus has killed at least 1,384 people and sickened more than 64,453 worldwide.

Follow CNBC’s live blog on the coronavirus

Since the deadly outbreak, Wang is the first Chinese senior official to travel overseas.

While the majority of confirmed coronavirus cases are in mainland China, the virus has also been identified in Japan, South Korea, Taiwan, Thailand, Vietnam, Philippines, India, Singapore, Nepal, Hong Kong, Macao, Cambodia, Malaysia, Sri Lanka, Italy, France, Germany, Russia, Spain, Belgium, Finland, Sweden, Australia, Canada, the United Arab Emirates, the United States and the United Kingdom.

Wang’s trip to Munich comes as German auto manufacturers brace for production and sale setbacks from the deadly coronavirus.

Cars, the nation’s top export, are uniquely affected by the coronavirus since so many German carmakers have established several auto plants throughout China.

His trip also comes on the heels of White House officials expressing doubts about the information coming out of China regarding the coronavirus. Researchers are skeptical that the official numbers from China reflect how contagious the virus truly is.

China “also continues to rebuff American offers of assistance,” a senior administration official told CNBC.


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: amanda macias
Keywords: news, cnbc, companies, attends, minister, munich, united, outbreak, coronavirus, official, deadly, foreign, chinese, amid, virus, security, wang, trip, china, conference


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