IMF’s Lagarde says oil exporters not fully recovered from 2014 shock, warns of ‘white elephant projects’

Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the International Monetary Fund said on Saturday, and she cautioned against spending money on “white elephant projects.” “This has led to a sharp increase in public debt, from 13 percent of GDP in 2013 to 33 percent in 2018.” Lagarde said governments in the region might be tempted to favor white elephant projects instead of investment in people and productive potential. Among oil importers in the Middle


Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the International Monetary Fund said on Saturday, and she cautioned against spending money on “white elephant projects.” “This has led to a sharp increase in public debt, from 13 percent of GDP in 2013 to 33 percent in 2018.” Lagarde said governments in the region might be tempted to favor white elephant projects instead of investment in people and productive potential. Among oil importers in the Middle
IMF’s Lagarde says oil exporters not fully recovered from 2014 shock, warns of ‘white elephant projects’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-10  Authors: simon dawson, bloomberg, getty images
Keywords: news, cnbc, companies, oil, fully, recovered, lagarde, middle, public, region, growth, fiscal, imfs, exporters, shock, white, warns, gdp, projects, spending, global


IMF's Lagarde says oil exporters not fully recovered from 2014 shock, warns of 'white elephant projects'

Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the International Monetary Fund said on Saturday, and she cautioned against spending money on “white elephant projects.”

“With revenues down, fiscal deficits are only slowly declining, despite significant reforms on both the spending and revenue sides, including the introduction of VAT and excise taxes,” Christine Lagarde, the managing director of the IMF, told a conference in Dubai.

“This has led to a sharp increase in public debt, from 13 percent of GDP in 2013 to 33 percent in 2018.”

Lagarde said the uncertainty in the growth outlook for oil exporters also reflected moves by countries to shift rapidly toward renewable energy over the new few decades, in line with the Paris climate change pact.

She said there was scope to improve fiscal frameworks in the Middle East with some of the weaknesses emanating from “short-termism and insufficient credibility.”

Lagarde said governments in the region might be tempted to favor white elephant projects instead of investment in people and productive potential.

Saudi Arabia, the Middle East’s biggest economy, has announced plans to go ahead with three major projects including NEOM, a $500 billion economic zone announced by Crown Prince Mohammed bin Salman.

The projects are backed by the country’s sovereign wealth fund, the Public Investment Fund.

Lagarde also said across the region, it is common for sovereign wealth funds to directly finance projects, bypassing the normal budget process, while state-owned enterprises in some countries had high levels of borrowing, outside the budget.

She said oil exporters could follow the example of other resource-rich countries such as Chile and Norway in using fiscal rules to protect priorities, such as social spending, from commodity price volatility.

Among oil importers in the Middle East region, growth had picked up, but it was still below the level before the global financial crisis, she said.

Fiscal deficits remained high, and public debt had risen rapidly — from 64 percent of GDP in 2008 to 85 percent a decade later, she said. Public debt now exceeded 90 percent of GDP in nearly half of these countries.

Speaking about the global economy, Lagarde said the IMF was not seeing a global recession on the horizon, but risks were rising for global growth due to trade tensions and tightening financial conditions.

The IMF’s revised forecast sees the global economy growing by 3.5 percent this year, 0.2 percentage points below what it expected in October.

“Unsurprisingly, a weaker global environment has knock-on effects on the region through a variety of channels — trade, remittances, capital flows, commodity prices, and financing conditions,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-02-10  Authors: simon dawson, bloomberg, getty images
Keywords: news, cnbc, companies, oil, fully, recovered, lagarde, middle, public, region, growth, fiscal, imfs, exporters, shock, white, warns, gdp, projects, spending, global


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Wells Fargo says it is working to fully restore systems as outage spills into day two

We are experiencing higher than normal volumes so there still may be delays in online banking and contact center response times.” Wells Fargo payroll was processed normally. The outage is putting stress on employees of companies that use Wells Fargo for payroll processing. She said she’s been trying to reach Wells Fargo about the problem with no success. Contact centers are up and running, Wells Fargo said, but people might have to wait longer than normal if they are calling in.


We are experiencing higher than normal volumes so there still may be delays in online banking and contact center response times.” Wells Fargo payroll was processed normally. The outage is putting stress on employees of companies that use Wells Fargo for payroll processing. She said she’s been trying to reach Wells Fargo about the problem with no success. Contact centers are up and running, Wells Fargo said, but people might have to wait longer than normal if they are calling in.
Wells Fargo says it is working to fully restore systems as outage spills into day two Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: liz moyer, getty images
Keywords: news, cnbc, companies, systems, day, system, wells, payroll, issue, fargo, fully, outage, online, customers, transactions, restore, spills, banking, bank, working


Wells Fargo says it is working to fully restore systems as outage spills into day two

Amid a deluge of complaints that paychecks and other direct deposits weren’t going through to customer accounts, Wells Fargo on Friday said it has corrected the issue and transactions should now be reflected in customer balances.

The bank is still scrambling to restore normal service after customers were shut out of mobile and online banking services on Thursday. ATM services have since been restored and branches are operational, but the effects of the system outage have spilled into a second day.

“As a result of the process to restore systems yesterday, some transactions and balances were not visible in online banking or ATMs” as of Friday morning, Wells Fargo said in a statement. “The transactions were processed normally, and customers can use their accounts with confidence. This issue has now been corrected, and all transactions are now visible. We are experiencing higher than normal volumes so there still may be delays in online banking and contact center response times.”

Some Wells Fargo employees were affected. “Some team members were not able to see the payroll deposits in their online banking accounts for a short period of time. Wells Fargo payroll was processed normally. This issue has now been corrected,” the bank said in a separate statement.

The outage is putting stress on employees of companies that use Wells Fargo for payroll processing. Vanessa Alonso, who works in the accounting department of a small printing company called Nuvo Group in New York City, said she had tried to put payroll through for the company’s two dozen or so employees but was unable. She said she’s been trying to reach Wells Fargo about the problem with no success.

“I just get a message that says ‘We’re experiencing high call volume,'” she said.

In a statement late Thursday night, the San Francisco-based bank said that mobile and online banking systems were operational except for some features such as consumer credit card and mortgage balances, and added that it was working to restore them. Contact centers are up and running, Wells Fargo said, but people might have to wait longer than normal if they are calling in.

“We continue to work on restoring all our services as soon as possible, and encourage customers to contact us if they have questions or concerns,” Wells Fargo said in the statement. “We apologize for the inconvenience caused by these system issues, and we want our customers to know that any Wells Fargo fees incurred as a result of these issues will be reversed.”

The bank said Wells Fargo credit and debit cards could be used for purchases.The complaints piled up on social media, however, with anecdotal reports that direct deposits weren’t reflected in balances on the mobile app. Wells Fargo, the fourth-largest U.S. bank with a sprawling coast-to-coast branch operation, made several posts on Twitter, most recently saying, “We want our customers to know that this is a contained issue affecting one of our facilities, and not due to any cybersecurity event.”

Earlier Thursday the bank said the system issues were due to a power shutdown at one of its facilities after smoke was detected after routine maintenance.

It’s not clear if that incident was connected to one at a data center Wells Fargo keeps in Minnesota, where a fire suppression system was accidentally tripped early Thursday morning, prompting a visit from the local fire department. That incident happened at 5 a.m., and the bank called the fire department at 9 a.m. The fire department told CNBC on Thursday that there was no fire.

WATCH:Here’s why you should think twice before using your debit card


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: liz moyer, getty images
Keywords: news, cnbc, companies, systems, day, system, wells, payroll, issue, fargo, fully, outage, online, customers, transactions, restore, spills, banking, bank, working


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Homeland Security ready to protect Trump’s State of the Union

Homeland Security Department, on Wednesday pushed back on a suggestion by House Speaker Nancy Pelosi that President Donald Trump reschedule his State of the Union address to Congress because of security concerns related to the ongoing partial government shutdown. Nielsen said her department and the U.S. Secret Service “are fully prepared to support and secure the State of the Union.” In a letter to Trump, Pelosi noted that as a result of the shutdown, “Both the U.S. Secret Service and the Depart


Homeland Security Department, on Wednesday pushed back on a suggestion by House Speaker Nancy Pelosi that President Donald Trump reschedule his State of the Union address to Congress because of security concerns related to the ongoing partial government shutdown. Nielsen said her department and the U.S. Secret Service “are fully prepared to support and secure the State of the Union.” In a letter to Trump, Pelosi noted that as a result of the shutdown, “Both the U.S. Secret Service and the Depart
Homeland Security ready to protect Trump’s State of the Union Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-16  Authors: dan mangan, kevin breuninger, samuel corum, anadolu agency, getty images
Keywords: news, cnbc, companies, security, secret, address, ready, fully, union, pelosi, trumps, homeland, service, department, protect, state, trump


Homeland Security ready to protect Trump's State of the Union

Kirstjen Nielsen, secretary of the U.S. Homeland Security Department, on Wednesday pushed back on a suggestion by House Speaker Nancy Pelosi that President Donald Trump reschedule his State of the Union address to Congress because of security concerns related to the ongoing partial government shutdown.

Nielsen said her department and the U.S. Secret Service “are fully prepared to support and secure the State of the Union.”

Nielsen’s statement came hours after Pelosi, D-Calif., suggested Trump reschedule his Jan. 29 speech to a joint session of Congress, or make it “from the Oval Office,” or even submit his speech in writing.

In a letter to Trump, Pelosi noted that as a result of the shutdown, “Both the U.S. Secret Service and the Department of Homeland Security have not been funded for 26 days now — with critical departments hamstrung by furloughs.”

“Sadly, given the security concerns and unless the government re-opens this week, I suggest that we work together to determine another suitable date after government has re-opened for this address or for your to consider delivering your State of the Union address in writing to Congress on January 29th,” Pelosi wrote.

Until Nielsen’s tweet in response to Pelosi’s letter, the Trump administration had not responded to it formally.

However, a senior law enforcement official told NBC News that the Secret Service is fully ready to offer full protection for attendees at the State of the Union address despite the shutdown.

“It’s a no-fail mission,” the official said. “We’ve been planning for this for months, as we always do. It didn’t start up 29 days ago.”

Although Secret Service personnel are not being paid, the intelligence and protection functions of the agency are fully staffed.


Company: cnbc, Activity: cnbc, Date: 2019-01-16  Authors: dan mangan, kevin breuninger, samuel corum, anadolu agency, getty images
Keywords: news, cnbc, companies, security, secret, address, ready, fully, union, pelosi, trumps, homeland, service, department, protect, state, trump


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Arrest of Huawei CFO shows ‘the gloves are now fully off,’ says Eurasia Group

The arrest of Huawei’s global chief financial officer in Canada, reportedly related to a violation of U.S. sanctions, will corrode trade negotiations between Washington and Beijing, risk consultancy Eurasia Group said Thursday. “Beijing is likely to react angrily to this latest arrest of a Chinese citizen in a third country for violating U.S. law,” Eurasia analysts wrote. Canada’s Department of Justice said on Wednesday the country arrested Meng Wanzhou in Vancouver, where she is facing extradit


The arrest of Huawei’s global chief financial officer in Canada, reportedly related to a violation of U.S. sanctions, will corrode trade negotiations between Washington and Beijing, risk consultancy Eurasia Group said Thursday. “Beijing is likely to react angrily to this latest arrest of a Chinese citizen in a third country for violating U.S. law,” Eurasia analysts wrote. Canada’s Department of Justice said on Wednesday the country arrested Meng Wanzhou in Vancouver, where she is facing extradit
Arrest of Huawei CFO shows ‘the gloves are now fully off,’ says Eurasia Group Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: huileng tan, photographer, collection, getty images, source
Keywords: news, cnbc, companies, related, statement, cfo, fully, sanctions, chinese, violation, group, trade, telecommunications, arrest, gloves, told, huawei, shows, eurasia


Arrest of Huawei CFO shows 'the gloves are now fully off,' says Eurasia Group

The arrest of Huawei’s global chief financial officer in Canada, reportedly related to a violation of U.S. sanctions, will corrode trade negotiations between Washington and Beijing, risk consultancy Eurasia Group said Thursday.

“Beijing is likely to react angrily to this latest arrest of a Chinese citizen in a third country for violating U.S. law,” Eurasia analysts wrote.

In fact, Global Times — a hyper-nationalistic tabloid tied to the Chinese Communist Party — responded to the arrest by posting on Twitter a statement about trade war escalation it attributed to an expert “close to the Chinese Ministry of Commerce.”

“China should be fully prepared for an escalation in the #tradewar with the US, as the US will not ease its stance on China, and the recent arrest of the senior executive of #Huawei is a vivid example,” said the statement, paired with a photo of opposing fists with Chinese and American flags superimposed upon them.

Canada’s Department of Justice said on Wednesday the country arrested Meng Wanzhou in Vancouver, where she is facing extradition to the U.S. The arrest is related to violations of U.S. sanctions, a person familiar with the matter told Reuters.

U.S. authorities have been probing Huawei, one of the world’s largest makers of telecommunications network equipment, since at least 2016 for allegedly shipping U.S.-origin products to Iran and other countries in violation of U.S. export and sanctions laws, sources told Reuters in April.

The analysts said the Huawei executive’s arrest will not derail the start of trade negotiations after U.S. President Donald Trump and Chinese President Xi Jinping’s meeting last weekend in Argentina saw them agree to first steps to resolve their trade dispute. Still, they acknowledged, the incident involving Chinese telecommunications giant Huawei is likely to cloud talks.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: huileng tan, photographer, collection, getty images, source
Keywords: news, cnbc, companies, related, statement, cfo, fully, sanctions, chinese, violation, group, trade, telecommunications, arrest, gloves, told, huawei, shows, eurasia


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There will be an oil shortage in the 2020’s, Goldman Sachs says

An oil shortage is coming says Goldman Sachs, because firms cannot fully invest in future production. Global oil majors are increasingly looking to invest in lower-carbon areas of the energy sector, as they react to pressure for cleaner energy, both from government policy and investors. “In the 2020’s we are going to have a clear physical shortage of oil because nobody is allowed to fully invest in future oil production,” Michele Della Vigna, Head of EMEA Natural Resources Research at Goldman Sa


An oil shortage is coming says Goldman Sachs, because firms cannot fully invest in future production. Global oil majors are increasingly looking to invest in lower-carbon areas of the energy sector, as they react to pressure for cleaner energy, both from government policy and investors. “In the 2020’s we are going to have a clear physical shortage of oil because nobody is allowed to fully invest in future oil production,” Michele Della Vigna, Head of EMEA Natural Resources Research at Goldman Sa
There will be an oil shortage in the 2020’s, Goldman Sachs says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: david reid
Keywords: news, cnbc, companies, shortage, future, vigna, invest, oil, told, energy, fully, goldman, sachs, 2020s


There will be an oil shortage in the 2020's, Goldman Sachs says

An oil shortage is coming says Goldman Sachs, because firms cannot fully invest in future production.

Global oil majors are increasingly looking to invest in lower-carbon areas of the energy sector, as they react to pressure for cleaner energy, both from government policy and investors.

“In the 2020’s we are going to have a clear physical shortage of oil because nobody is allowed to fully invest in future oil production,” Michele Della Vigna, Head of EMEA Natural Resources Research at Goldman Sachs told CNBC Friday.

“The low carbon transition will come through higher, not lower oil prices,” he told CNBC’s “Squawk Box Europe.”

Della Vigna said “Big Oils” are starting to understand that if they want to be widely owned by investors, they need to show that they are serious about minimizing the amount of carbon in the atmosphere.


Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: david reid
Keywords: news, cnbc, companies, shortage, future, vigna, invest, oil, told, energy, fully, goldman, sachs, 2020s


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Amazon and Cisco have a new product for companies that aren’t ready to fully embrace the cloud

Cisco previously announced partnerships with the other two major cloud providers, Google and Microsoft, but Amazon is by far the leader in the cloud infrastructure market. Amazon offers a service for deploying containers on servers in its data centers, and Cisco has developed software that works on servers that companies manage themselves. Cisco remains a powerful player in the world of traditional data centers, where companies are buying their own networking switches and routers. But increasing


Cisco previously announced partnerships with the other two major cloud providers, Google and Microsoft, but Amazon is by far the leader in the cloud infrastructure market. Amazon offers a service for deploying containers on servers in its data centers, and Cisco has developed software that works on servers that companies manage themselves. Cisco remains a powerful player in the world of traditional data centers, where companies are buying their own networking switches and routers. But increasing
Amazon and Cisco have a new product for companies that aren’t ready to fully embrace the cloud Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: jordan novet, ashlee espinal
Keywords: news, cnbc, companies, product, embrace, announced, centers, fully, data, cisco, software, arent, ready, way, ciscos, companies, amazon, cloud


Amazon and Cisco have a new product for companies that aren't ready to fully embrace the cloud

Amazon Web Services and Cisco announced on Thursday that they’re teaming up on a product that will allow developers to build applications in the cloud or in traditional data centers while making it easier for them to move between the two.

It’s Cisco’s latest effort to create hybrid options for customers that want to push work to the cloud but still need to run some projects on their own hardware for privacy and regulatory reasons. Cisco previously announced partnerships with the other two major cloud providers, Google and Microsoft, but Amazon is by far the leader in the cloud infrastructure market.

The broad trend they’re playing into with the new offering is around containers, a modern way for developers to move code between machines. Amazon offers a service for deploying containers on servers in its data centers, and Cisco has developed software that works on servers that companies manage themselves.

Both draw on the Kubernetes open-source software, which originated at Google.

“Containers are the way applications are built today,” said David Goeckeler, executive vice president and general manager of Cisco’s networking and security business, in an interview. “The question is where are they going to run it.”

Cisco remains a powerful player in the world of traditional data centers, where companies are buying their own networking switches and routers. But increasingly that infrastructure has moved to the cloud, making it difficult for Cisco and other data center companies to find growth in their main markets. VMware announced a partnership with AWS two years ago and has since made its management software available on the Amazon cloud.

Cisco will sell and provide commercial support for the technology, which it’s calling Cisco Hybrid Solution for Kubernetes on AWS, starting at $65,000 per year when it becomes available next month. Companies will also be able to buy specialty hardware that comes with the software.

WATCH: Cisco’s CEO on its changing business model


Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: jordan novet, ashlee espinal
Keywords: news, cnbc, companies, product, embrace, announced, centers, fully, data, cisco, software, arent, ready, way, ciscos, companies, amazon, cloud


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‘Fully confident’ White House receives FBI report on Kavanaugh

The White House received the Federal Bureau of Investigation’s report on sexual misconduct allegations against U.S. Supreme Court nominee Brett Kavanaugh and is “fully confident” the Senate will approve his nomination, a spokesman said. The chamber was expected to receive the report early on Thursday, two sources familiar with the matter told Reuters. Senators had been given ample time to review the background investigation and the White House was “fully confident” they would endorse Kavanaugh,


The White House received the Federal Bureau of Investigation’s report on sexual misconduct allegations against U.S. Supreme Court nominee Brett Kavanaugh and is “fully confident” the Senate will approve his nomination, a spokesman said. The chamber was expected to receive the report early on Thursday, two sources familiar with the matter told Reuters. Senators had been given ample time to review the background investigation and the White House was “fully confident” they would endorse Kavanaugh,
‘Fully confident’ White House receives FBI report on Kavanaugh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-04  Authors: andrew harnik, afp, getty images
Keywords: news, cnbc, companies, told, receives, nomination, house, confident, trump, vote, kavanaugh, senate, republican, cloture, fbi, white, report, fully


'Fully confident' White House receives FBI report on Kavanaugh

The White House received the Federal Bureau of Investigation’s report on sexual misconduct allegations against U.S. Supreme Court nominee Brett Kavanaugh and is “fully confident” the Senate will approve his nomination, a spokesman said.

The chamber was expected to receive the report early on Thursday, two sources familiar with the matter told Reuters.

Senators were to be granted access to review it during the day before a procedural vote, Majority Leader Mitch McConnell said on Wednesday.

Senators had been given ample time to review the background investigation and the White House was “fully confident” they would endorse Kavanaugh, the administration’s Deputy Press Secretary Raj Shah said in a tweet early on Thursday.

Several people with information related to allegations against Kavanaugh told Reuters they had not heard from the FBI, suggesting its report may be narrower than was desired by some of the lawmakers who demanded it just days ago.

With the report’s conclusions as yet unclear, a partisan struggle over it has been developing.

U.S. President Donald Trump and the Senate Republican leadership are battling to corral enough support for a majority vote for Kavanaugh, a conservative federal appeals court judge, while Democrats are in near unanimity against him.

McConnell, a Republican, filed a petition for a cloture vote, which if successful would limit debate on the nomination and start the clock ticking on a final 30-hour waiting period before a Senate confirmation vote.

After filing a cloture petition, lawmakers must wait one legislative day before proceeding to a vote, according to Senate rules. That means a cloture vote could come on Friday morning at the soonest.

Christine Blasey Ford, a college professor from California who accused Kavanaugh of assaulting her in 1982 when they were high school students, has not been contacted by the FBI, her attorneys said.

As Senate Republican leaders marched toward a final vote on Kavanaugh’s nomination, the three Republicans who could be key to whether Kavanaugh is confirmed — Senators Jeff Flake, Susan Collins, and Lisa Murkowski — criticized Trump for mocking Ford at a political rally in Mississippi on Tuesday.

Ford, who testified last week at an extraordinary Senate Judiciary Committee hearing, said she could not remember the precise date or location of the alleged assault or how she got home later, but offered a detailed account of the incident.

WATCH: Trump’s fight against ‘fake news’ has been a boon for media companies


Company: cnbc, Activity: cnbc, Date: 2018-10-04  Authors: andrew harnik, afp, getty images
Keywords: news, cnbc, companies, told, receives, nomination, house, confident, trump, vote, kavanaugh, senate, republican, cloture, fbi, white, report, fully


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1 dead as 89,000 pounds of ham recalled over listeria concerns

A North Carolina company is recalling more than 89,000 pounds of ready-to-eat ham products for possible listeria contamination that has led to one death and three illnesses. The ready-to-eat deli-loaf ham items, which weighed between seven and eight pounds, were shipped to distributors in North Carolina, South Carolina, New York, Maryland and Virginia. The ham products were plastic-wrapped and carried one of five different labels including “Johnson County Hams Inc., Country Style Fully Cooked Bo


A North Carolina company is recalling more than 89,000 pounds of ready-to-eat ham products for possible listeria contamination that has led to one death and three illnesses. The ready-to-eat deli-loaf ham items, which weighed between seven and eight pounds, were shipped to distributors in North Carolina, South Carolina, New York, Maryland and Virginia. The ham products were plastic-wrapped and carried one of five different labels including “Johnson County Hams Inc., Country Style Fully Cooked Bo
1 dead as 89,000 pounds of ham recalled over listeria concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-04  Authors: mike snider, adriana marteva, eyeem, getty images
Keywords: news, cnbc, companies, cooked, concerns, country, north, hams, deli, products, carolina, ham, 89000, pounds, fully, listeria, dead, recalled


1 dead as 89,000 pounds of ham recalled over listeria concerns

A North Carolina company is recalling more than 89,000 pounds of ready-to-eat ham products for possible listeria contamination that has led to one death and three illnesses.

Johnson County Hams of Smithfield, North Carolina, has recalled the products, produced between April 3, 2017, and Oct. 2, 2018, according to the Department of Agriculture. The ready-to-eat deli-loaf ham items, which weighed between seven and eight pounds, were shipped to distributors in North Carolina, South Carolina, New York, Maryland and Virginia.

An investigation by the Centers for Disease Control and Prevention, the USDA’s Food Safety and Inspection Service and state officials identified a link between one death and three illnesses and listeria monocytogenes found in deli ham produced at the company. The investigation, which is ongoing, found listeria cases occurring between July 8, 2017 and August 11, 2018, the USDA says.

Listeriosis is a serious infection typically caused by eating food contaminated with the bacterium Listeria monocytogenes, the contaminant found in the ham.

An estimated 1,600 people get listeriosis each year, and about 260 die, according to the CDC. The infection is most likely to cause illness in pregnant women and their newborns, adults ages 65 or older, and people with weakened immune systems, the agency says.

The ham products were plastic-wrapped and carried one of five different labels including “Johnson County Hams Inc., Country Style Fully Cooked Boneless Deli Ham,” “Goodnight Brothers Country Ham Boneless Fully Cooked,” and “Padow’s Hams & Deli, Inc. Fully Cooked Country Ham Boneless Glazed with Brown Sugar.”

Hams labelled “Ole Fashioned Sugar Cured, The Old Dominion Brand Hams Premium Fully Cooked Country Ham” and “Premium Fully Cooked Country Ham, Less Salt, Distributed By: Valley Country Hams LLC” had specific sell-by dates from April 10, 2018 to Sept. 27, 2019.

The USDA, which was notified about an illness on Sept. 27, is concerned that some shoppers may have the ham products in their freezers. Consumers who bought the products should not eat them and, instead, should throw them away or return them to the store where they were purchased.

Consumers with questions about the recall can contact the company’s plant manager Rufus Brown at 919-934-8054.


Company: cnbc, Activity: cnbc, Date: 2018-10-04  Authors: mike snider, adriana marteva, eyeem, getty images
Keywords: news, cnbc, companies, cooked, concerns, country, north, hams, deli, products, carolina, ham, 89000, pounds, fully, listeria, dead, recalled


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Blockchain is ‘not ready yet’ to fully support the global supply chain, CEO says

Blockchain technology is not yet mature enough to fully support the global supply chain, according to the CEO and co-founder of Tradeshift, a digital invoicing start-up. Tradeshift is a start-up in the supply chain payments and marketplaces space. To solve the issue, companies need technologies that can digitize their supply chains so that they can respond to change quickly, he said. Blockchain is one such technology that experts say could have the potential to shake up the global supply chain.


Blockchain technology is not yet mature enough to fully support the global supply chain, according to the CEO and co-founder of Tradeshift, a digital invoicing start-up. Tradeshift is a start-up in the supply chain payments and marketplaces space. To solve the issue, companies need technologies that can digitize their supply chains so that they can respond to change quickly, he said. Blockchain is one such technology that experts say could have the potential to shake up the global supply chain.
Blockchain is ‘not ready yet’ to fully support the global supply chain, CEO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-19  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, global, say, using, supply, chains, fully, think, technology, ready, chain, lanng, blockchain, stakeholders, support, ceo


Blockchain is 'not ready yet' to fully support the global supply chain, CEO says

Blockchain technology is not yet mature enough to fully support the global supply chain, according to the CEO and co-founder of Tradeshift, a digital invoicing start-up.

Using blockchain is a great idea when there are multiple stakeholders involved since the ledger records every transaction that takes place, Christian Lanng told CNBC at the World Economic Forum in Tianjin, China on Wednesday.

Supply chains “often have many different stakeholders touching goods, moving them around,” he said. “If you want to have authenticity, if you want to know where it is sourced, that it is done in a responsible way … (blockchain) is a great technology to manage that kind of flow and be sure of the integrity.”

“The problem is just it’s not a high-performance technology,” he said, adding that it is also expensive.

Tradeshift is a start-up in the supply chain payments and marketplaces space. The company helps other businesses send and pay invoices using software, instead of using traditional offline methods that are often costly and inefficient.

As of July, the company raised more than $400 million in funds and was valued at $1.1 billion.

One of the main problems is that existing supply chains were not built for change, according to Lanng. To solve the issue, companies need technologies that can digitize their supply chains so that they can respond to change quickly, he said.

Blockchain is one such technology that experts say could have the potential to shake up the global supply chain. But Lanng warned about the hype surrounding the technology.

“Whenever people say blockchain, I think what they’re really saying is they would like to connect things digitally,” he said. “I don’t think blockchain is a mature enough technology yet to carry that … I also want to be a little bit cautious for some of the hype.”


Company: cnbc, Activity: cnbc, Date: 2018-09-19  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, global, say, using, supply, chains, fully, think, technology, ready, chain, lanng, blockchain, stakeholders, support, ceo


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This chart could explain why the bitcoin bubble hasn’t fully burst

Van der Burgt said the correlation between Google searches for bitcoin and the cryptocurrency’s price was almost a “perfect match” until the end of 2017. He said it might not be a coincidence that was also when bitcoin futures markets were introduced. Van der Burgt compared Google searches for other popular assets like gold to their prices and found no correlation. Van der Burgt said bitcoin’s price movements closely traced the beginning stages of a bubble, but fell short of the panic phase. “It


Van der Burgt said the correlation between Google searches for bitcoin and the cryptocurrency’s price was almost a “perfect match” until the end of 2017. He said it might not be a coincidence that was also when bitcoin futures markets were introduced. Van der Burgt compared Google searches for other popular assets like gold to their prices and found no correlation. Van der Burgt said bitcoin’s price movements closely traced the beginning stages of a bubble, but fell short of the panic phase. “It
This chart could explain why the bitcoin bubble hasn’t fully burst Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-31  Authors: elizabeth schulze, source, joost van der burgt
Keywords: news, cnbc, companies, price, searches, futures, burst, fully, bitcoin, chart, burgt, der, explain, prices, bubble, stages, van


This chart could explain why the bitcoin bubble hasn't fully burst

“Every time bitcoin was in the news, be it positive or negative, the price went up accordingly,” van der Burgt said in a phone interview with CNBC on Wednesday.

Van der Burgt said the correlation between Google searches for bitcoin and the cryptocurrency’s price was almost a “perfect match” until the end of 2017. He said it might not be a coincidence that was also when bitcoin futures markets were introduced.

“My take on it is that because of the introduction of futures, that might have deflated the bubble before it got to a level where it might burst completely,” he said.

Separate research published in May by researchers at the San Francisco Federal Reserve also found bitcoin’s price dive was linked to the launch of a futures markets.

Van der Burgt compared Google searches for other popular assets like gold to their prices and found no correlation. He said public awareness about an investment can help drive its prices to sky-high levels.

“If the buzz is everywhere, it doesn’t matter exactly what the news is about… nobody wants to miss out and everybody’s trying to get a piece of it,” he said.

This has historically been characterized as the “euphoria” phase of a bubble, based on economist Hyman Minsky’s financial instability hypothesis. Minsky’s theory became well-known during the global financial crisis as it identified five stages of a bubble: displacement, boom, euphoria, profit-taking and panic.

Van der Burgt said bitcoin’s price movements closely traced the beginning stages of a bubble, but fell short of the panic phase. The cryptocurrency is currently trading near $7,000 according to Coindesk, well below its December 2017 high of nearly $20,000.

“It wasn’t really panic, it was more of a scare,” Van der Burgt said.


Company: cnbc, Activity: cnbc, Date: 2018-08-31  Authors: elizabeth schulze, source, joost van der burgt
Keywords: news, cnbc, companies, price, searches, futures, burst, fully, bitcoin, chart, burgt, der, explain, prices, bubble, stages, van


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