Doing this when buying a home can ‘put your future at risk,’ expert says

Bankrate polled 2,582 adults, including 789 millennials ages 23-38, and asked participants how they are funding their down payments and closing costs. Over half, or 53%, of millennials say they’re saving. And 13% of millennial respondents say they’re tapping their retirement accounts, as compared to 8% and 7% of Gen Xers and baby boomers. Putting ‘your future at risk'”Tapping into retirement savings is a risky move that can put your future at risk,” says Deborah Kearns, a mortgage analyst for Ba


Bankrate polled 2,582 adults, including 789 millennials ages 23-38, and asked participants how they are funding their down payments and closing costs. Over half, or 53%, of millennials say they’re saving. And 13% of millennial respondents say they’re tapping their retirement accounts, as compared to 8% and 7% of Gen Xers and baby boomers. Putting ‘your future at risk'”Tapping into retirement savings is a risky move that can put your future at risk,” says Deborah Kearns, a mortgage analyst for Ba
Doing this when buying a home can ‘put your future at risk,’ expert says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: alizah salario, bob sullivan, ivana pino, myelle lansat
Keywords: news, cnbc, companies, buying, future, say, long, savings, think, financial, retirement, risk, respondents, money, expert, youre, millennials, doing


Doing this when buying a home can 'put your future at risk,' expert says

To save for a down payment on a new home, some millennials are getting creative, according to a recent survey of prospective homebuyers from Bankrate.com. But one of their strategies in particular, experts worry, may be shortsighted, and even risky. Bankrate polled 2,582 adults, including 789 millennials ages 23-38, and asked participants how they are funding their down payments and closing costs. (Respondents could pick multiple answers.) Over half, or 53%, of millennials say they’re saving. Some are taking more drastic steps: 14% say they’ve moved in with family or friends to cut down on expenses, and 12% are selling personal items such as jewelry, cars, or electronics. And 13% of millennial respondents say they’re tapping their retirement accounts, as compared to 8% and 7% of Gen Xers and baby boomers.

Graphic preview How people find the money to buy homes Millennials tend to use more sources to fund the down payment and closing costs on their first homes than other generations. Social chart title Note: Respondents could choose more than one answer. kiersten schmidt/grow Bankrate

Here’s why experts suggest you think twice before dipping into your retirement fund.

Putting ‘your future at risk’

“Tapping into retirement savings is a risky move that can put your future at risk,” says Deborah Kearns, a mortgage analyst for Bankrate. “By and large, homeownership has long been touted as the way you build wealth,” she says. “While that’s still true to some extent, you can’t overextend yourself to make that happen.” Mark LaSpisa, a certified financial planner and president of Vermillion Financial Advisors in South Barrington, Illinois, agrees. While there may be some cases in which putting equity from retirement savings into a home may make sense, the “psychological, habit-forming” component of drawing down from your retirement savings is a concern, too: “It’s easy to think, ‘I broke the seal, and now I can go in and raid my IRA for any reason,'” he says.

By and large, homeownership has long been touted as the way you build wealth. While that’s still true to some extent, you can’t overextend yourself to make that happen. Deborah Kearns mortgage analyst, Bankrate.com

Generally, when you pull from a retirement account before you reach age 59½, your withdrawal is considered an “early” or “premature” distribution. That means the money is subject to taxes and a 10% penalty. Traditional and Roth IRAs make an exception for first-time homebuyers, letting you avoid those consequences. But even if you’re not incurring additional costs in the short-term, you may well be setting yourself back over the long term. Let’s say you decide to take $10,000 out of your retirement account to put toward a first-home purchase, and you’re 32, the average age of first-time buyers. If you instead left that money in the account and it saw average returns of 8% over the next 33 years until you retire at 65, those funds would have grown to more than $126,700. But growing your retirement savings thanks to compounding interest is only part of why experts recommend leaving that $10,000 alone. If you chip away now at what you’ve already saved, you might find it harder to stay on track later with your retirement goals, should you experience a job loss or other financial emergency that affects your ability to save. For all of these reasons, Suze Orman’s advice is to leave the money in your retirement accounts alone. “Do not take a loan, do not make withdrawals, do not touch your retirement accounts,” Orman told CNBC Make It last year. “Because if you think you need that money now, I’m here to tell you you’re going to need it even more later on in life when you no longer have a paycheck coming in.”

Taking the long view


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: alizah salario, bob sullivan, ivana pino, myelle lansat
Keywords: news, cnbc, companies, buying, future, say, long, savings, think, financial, retirement, risk, respondents, money, expert, youre, millennials, doing


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Warren Buffett: Developing this skill can make ‘a major difference in your future earning power’

That’s because, “what’s really essential is being able to get others to follow your ideas,” the Berkshire Hathaway chairman and CEO told Segal. If you want to get ahead, focus on your communication skills, billionaire investor Warren Buffett advises. “Up until the age of 20, I was absolutely unable to speak in public,” he told Segal. The class met once a week for a couple of months, but Buffett continued to practice public speaking even after it ended. Don’t miss: Warren Buffett, Melinda Gates a


That’s because, “what’s really essential is being able to get others to follow your ideas,” the Berkshire Hathaway chairman and CEO told Segal. If you want to get ahead, focus on your communication skills, billionaire investor Warren Buffett advises. “Up until the age of 20, I was absolutely unable to speak in public,” he told Segal. The class met once a week for a couple of months, but Buffett continued to practice public speaking even after it ended. Don’t miss: Warren Buffett, Melinda Gates a
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Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: kathleen elkins
Keywords: news, cnbc, companies, major, skill, university, youre, future, told, earning, difference, segal, developing, buffett, follow, warren, class, speaking, power, public


Warren Buffett: Developing this skill can make 'a major difference in your future earning power'

That’s because, “what’s really essential is being able to get others to follow your ideas,” the Berkshire Hathaway chairman and CEO told Segal. “If you’re a salesperson, you want people to follow your advice. If you’re a management leader, you want them to follow you in business.”

Honing this skill could even increase your worth by 50%, Buffett said in a video posted on LinkedIn last year .

“A relatively modest improvement can make a major difference in your future earning power, as well as in many other aspects of your life,” he told Gillian Zoe Segal in an interview for her 2015 book, “Getting There: A Book of Mentors.”

If you want to get ahead, focus on your communication skills, billionaire investor Warren Buffett advises.

What’s really essential is being able to get others to follow your ideas.

Communication isn’t something that came naturally to Buffett. “Up until the age of 20, I was absolutely unable to speak in public,” he told Segal. “Just the thought of it made me physically ill.” When he was at Columbia Business School, he decided to do something about it and paid $100 to take a Dale Carnegie public speaking course.

The class met once a week for a couple of months, but Buffett continued to practice public speaking even after it ended. “As soon as the course was over, I went to the University of Omaha and said, ‘I want to start teaching,'” he recalled. “I knew that if I did not speak in front of people quickly I would lapse back to where I’d started. I just kept doing it, and now you can’t stop me from talking!”

To this day, the 89-year-old considers that $100 class one of the best investments he’s ever made.

“The impact that class had on my life was huge,” said Buffett.

He doesn’t have his diploma from the University of Nebraska or Columbia on display in his office, but he does have the Dale Carnegie graduation certificate visible. It “gave me the most important degree I have,” he said, adding: “It’s certainly had the biggest impact in terms of my subsequent success.”

Don’t miss: Warren Buffett, Melinda Gates and Sheryl Sandberg agree: This is the most important decision you’ll ever make

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Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: kathleen elkins
Keywords: news, cnbc, companies, major, skill, university, youre, future, told, earning, difference, segal, developing, buffett, follow, warren, class, speaking, power, public


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Altria-PMI $200 billion merger would face a future with fewer smokers, more regs for tobacco giants

A decade after going their separate ways, the two tobacco giants announced this week they are considering a merger. The potential merger would end years of speculation on whether the companies would eventually reunite. Marlboro-maker Altria spun off PMI in 2008 to help the international business grow and shield it from the U.S. regulations and litigation. If they recombine, the newly formed company would be a $200 billion behemoth that dwarfs the market value of its next-largest rival, British A


A decade after going their separate ways, the two tobacco giants announced this week they are considering a merger. The potential merger would end years of speculation on whether the companies would eventually reunite. Marlboro-maker Altria spun off PMI in 2008 to help the international business grow and shield it from the U.S. regulations and litigation. If they recombine, the newly formed company would be a $200 billion behemoth that dwarfs the market value of its next-largest rival, British A
Altria-PMI $200 billion merger would face a future with fewer smokers, more regs for tobacco giants Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: angelica lavito
Keywords: news, cnbc, companies, merger, smokers, fewer, altria, products, billion, tobacco, company, companies, future, ways, altriapmi, giants, cigarettes, face, health, international, nicotine, regs


Altria-PMI $200 billion merger would face a future with fewer smokers, more regs for tobacco giants

For Altria and Philip Morris International, breakin’ up may have been too hard to do.

A decade after going their separate ways, the two tobacco giants announced this week they are considering a merger.

The potential merger would end years of speculation on whether the companies would eventually reunite. Marlboro-maker Altria spun off PMI in 2008 to help the international business grow and shield it from the U.S. regulations and litigation.

If they recombine, the newly formed company would be a $200 billion behemoth that dwarfs the market value of its next-largest rival, British American Tobacco, by about $120 billion. But a lot has changed in the decade since the two split, and Big Tobacco can no longer pin its future on the cigarettes its empire was built.

Only problem: The two main sectors Altria is eyeing for growth — vaping and cannabis — are new fields beset by regulatory challenges. Electronic cigarettes, in particular, are already hamstrung by investigations, litigation and accusations of intentionally hooking underage kids on addictive nicotine pods.

Selling cigarettes is still an incredibly profitable business — albeit a shrinking one. Global smoking rates are declining as health officials across the globe sound alarms over its long-term health consequences. In response, tobacco companies are developing other ways to deliver nicotine that are less carcinogenic, including e-cigarettes, heated tobacco products and oral-derived nicotine pouches that don’t release the toxins in tobacco known to cause cancer.

Merging Altria and PMI’s businesses would allow the combined company, which already sell the same cigarette brands, to work together on new products, or at least that’s the thought, according to people familiar with the company’s thinking. A deal may not materialize, the companies warned. And if one is reached, the company’s boards, shareholders and regulators would need to approve.

But Moody’s analyst Roberto Pozzi said the combined company could use its heft to invest in new products, generate more profit and better manage the risks that come with entering new markets.


Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: angelica lavito
Keywords: news, cnbc, companies, merger, smokers, fewer, altria, products, billion, tobacco, company, companies, future, ways, altriapmi, giants, cigarettes, face, health, international, nicotine, regs


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To meet future energy demands, India is promising a push toward sustainability

Home to more than 1 billion people, India is a huge economic, political and cultural force and when it comes to renewable energy, Prime Minister Narendra Modi’s government has ambitious plans. In June 2019, Anand Kumar, the secretary of India’s Ministry of New and Renewable Energy, said the country planned to have 500 gigawatts of renewable energy capacity by 2030. “TERI is all about providing innovations for sustainable development,” Ajay Mathur, the director general of the organization, told C


Home to more than 1 billion people, India is a huge economic, political and cultural force and when it comes to renewable energy, Prime Minister Narendra Modi’s government has ambitious plans. In June 2019, Anand Kumar, the secretary of India’s Ministry of New and Renewable Energy, said the country planned to have 500 gigawatts of renewable energy capacity by 2030. “TERI is all about providing innovations for sustainable development,” Ajay Mathur, the director general of the organization, told C
To meet future energy demands, India is promising a push toward sustainability Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: anmar frangoul
Keywords: news, cnbc, companies, demands, system, told, teri, promising, meet, india, sustainable, sustainability, organization, director, energy, innovations, push, sectors, future, renewable


To meet future energy demands, India is promising a push toward sustainability

Home to more than 1 billion people, India is a huge economic, political and cultural force and when it comes to renewable energy, Prime Minister Narendra Modi’s government has ambitious plans.

In June 2019, Anand Kumar, the secretary of India’s Ministry of New and Renewable Energy, said the country planned to have 500 gigawatts of renewable energy capacity by 2030.

Based in New Delhi, The Energy and Resources Institute (TERI), is an independent organization that wants to drive India toward energy use that is less damaging to the planet, among other things.

“TERI is all about providing innovations for sustainable development,” Ajay Mathur, the director general of the organization, told CNBC’s Sustainable Energy.

“Innovations in technology, innovations in policy, innovations in business models,” Mathur added. “What we want to do is to help users to be comfortable with more sustainable options and be able to use them so that they become the preferred option.”

One area that TERI focuses on is the sustainable development of buildings. It has come up with a rating system called the Green Rating for Integrated Habitat Assessment, or GRIHA. The GRIHA system aims to quantify things such as renewable energy adoption, waste generation and energy consumption.

“We are working towards pushing the boundaries to make sure that the buildings that come up in the future should be more efficient than the ones we have as of now, or have been built in the past,” Sanjay Seth, a senior director at TERI’s Sustainable Habitat Division, said.

TERI focuses on several sectors, from the built environment to agriculture, the climate and energy. Future Earth is another organization focusing on sustainability. Its executive director is Amy Luers.

“We need to work across a wide range of sectors and in between those sectors,” Luers told CNBC. “It’s only by taking the systems-based approach that we’re going to be able to address the large, complex, global sustainability challenges we face today.”


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: anmar frangoul
Keywords: news, cnbc, companies, demands, system, told, teri, promising, meet, india, sustainable, sustainability, organization, director, energy, innovations, push, sectors, future, renewable


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Many of the leaders of Hong Kong’s protests are millennials—here’s why they’re taking action

A protester throws an egg at the police headquarters during a demonstrations in Hong Kong, China, on Friday, June 21, 2019. Hong Kong protesters, including student groups, resumed demonstrations in the city center Friday to demand Chief Executive Carrie Lam step down. Young people are at the forefront of Hong Kong’s protest movement. Although Hong Kong’s government suspended the bill in response to the widespread backlash, the protests have continued. Many young residents maintain a strong sense


A protester throws an egg at the police headquarters during a demonstrations in Hong Kong, China, on Friday, June 21, 2019. Hong Kong protesters, including student groups, resumed demonstrations in the city center Friday to demand Chief Executive Carrie Lam step down. Young people are at the forefront of Hong Kong’s protest movement. Although Hong Kong’s government suspended the bill in response to the widespread backlash, the protests have continued. Many young residents maintain a strong sense
Many of the leaders of Hong Kong’s protests are millennials—here’s why they’re taking action Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: carmin chappell
Keywords: news, cnbc, companies, law, future, protesters, china, wong, leaders, kong, protests, theyre, action, bill, hong, taking, kongs, millennialsheres


Many of the leaders of Hong Kong's protests are millennials—here's why they're taking action

A protester throws an egg at the police headquarters during a demonstrations in Hong Kong, China, on Friday, June 21, 2019. Hong Kong protesters, including student groups, resumed demonstrations in the city center Friday to demand Chief Executive Carrie Lam step down. Photographer: Eduardo Leal/Bloomberg via Getty Images

The city of Hong Kong has been roiled by protests this summer. Hundreds of thousands of demonstrators have occupied the city’s streets, government buildings and even the main airport. All departing flights were canceled on Monday, putting travel at a standstill. Young people are at the forefront of Hong Kong’s protest movement. Many of the most prominent opposition leaders are still in their 20s, but they’re demanding big changes that could alter the future of their entire generation. These are the issues they’re calling attention to:

Democracy

Hong Kong’s protests were sparked in June by a proposed bill that would allow extraditions to mainland China. Opponents of the bill feared it was a sign of the Communist Party’s growing influence over Hong Kong, which is designated as a Special Administrative Region of China that operates largely independently. Although Hong Kong’s government suspended the bill in response to the widespread backlash, the protests have continued. Demonstrators have harnessed the momentum to advocate for greater democratic freedoms overall. Joshua Wong and Agnes Chow, both 22, and Nathan Law, 26, are three of the leaders of Demosisto, a pro-democracy youth activist group in Hong Kong that has been on the front lines of the protests. Wong and Law were among several people sentenced to jail in 2017 for their role in the Umbrella Movement, another wave of pro-democracy protests in 2014 led in large part by college students. But they haven’t let their previous run-ins with the law stop them from supporting this summer’s protests. “What kind of young people does Hong Kong produce? Smart, efficient, attentive and freedom-loving,” Wong tweeted after protesters stormed the city’s legislative headquarters. “I am proud of them.”

Economic inequality

Hong Kong is known as one of the world’s major economic hubs, but it’s also home to extreme inequality. The gap between the rich and the poor is staggering: According to the latest census report, the wealthiest 10% of households earn 44 times more than the poorest 10%. Housing prices are also some of the highest in the world, surpassing even New York and London. To save money, many residents have opted to live in cramped, dorm-style rooms with bunk beds and shared bathrooms, known as “coffin homes. ” Half of the protesters identify as middle class, according to a field survey conducted by local universities. But some experts say that the protests will ultimately hurt Hong Kong’s economy overall, if companies decide to relocate due to the unrest.

Hong Kong’s identity

Hong Kong’s transition from a British colony to part of mainland China was seen as a massive step for the future of the city. But many of those protesting today weren’t even born yet when Hong Kong was handed over to China in 1997, and they now worry for the loss of the city’s autonomy at the hands of the Communist Party. “Police and Chinese mob are ruling Hong Kong,” tweeted Law. “When the Chinese mobs are attacking the citizens, no law enforcements are there.” At times during the demonstrations police have fired tear gas and rubber bullets into crowds of protesters. Many young residents maintain a strong sense of identity with Hong Kong over China: 9% of Hong Kong residents ages 18 to 29 say they’re proud to be a Chinese citizen, while 38% of those over 50 feel the same way, according to a survey by Hong Kong University. The actions of Hong Kong’s youth mirror millennials around the world, who are increasingly standing up against the status quo and demanding more radical political change. “If there is just one takeaway for the world: Events in Hong Kong are about so much more than the bill, more than Lam, more even than democracy,” tweeted Wong. “They all matter of course. But in the end it is about the future of Hong Kong beyond 2047, a future that belongs to our generation.” In 2047 the current political arrangement between Hong Kong and China will expire, opening up the possibility for a completely new system to take its place. Like this story? Subscribe to CNBC Make It on YouTube! Don’t miss: Small business confidence drops to a low as U.S.–China trade war rattles Main Street


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: carmin chappell
Keywords: news, cnbc, companies, law, future, protesters, china, wong, leaders, kong, protests, theyre, action, bill, hong, taking, kongs, millennialsheres


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How two global organizations are helping to lay the foundations for a renewable energy future

Organizations such as REN21, which describes itself as an “international policy network,” play a significant role in this discussion and debate. It was set up in 2004 following the International Conference on Renewable Energy in Bonn and issues reports “to help drive the global transition to renewable energy.” “So we need to move from an electricity transition to an energy transition.” REN21 is one of several bodies focusing on renewable energy and the environment. Others include Future Earth, w


Organizations such as REN21, which describes itself as an “international policy network,” play a significant role in this discussion and debate. It was set up in 2004 following the International Conference on Renewable Energy in Bonn and issues reports “to help drive the global transition to renewable energy.” “So we need to move from an electricity transition to an energy transition.” REN21 is one of several bodies focusing on renewable energy and the environment. Others include Future Earth, w
How two global organizations are helping to lay the foundations for a renewable energy future Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: anmar frangoul
Keywords: news, cnbc, companies, helping, international, world, future, lay, network, global, told, energy, renewable, ren21, organizations, transition, foundations, governments, policy


How two global organizations are helping to lay the foundations for a renewable energy future

Around the world, big businesses and governments are searching for ways to increase their use of renewable sources of energy and, at the same time, reduce their impact on the environment.

Organizations such as REN21, which describes itself as an “international policy network,” play a significant role in this discussion and debate.

REN21 members include governments, industry associations, non-governmental organizations and academic institutions.

It was set up in 2004 following the International Conference on Renewable Energy in Bonn and issues reports “to help drive the global transition to renewable energy.”

Rana Adib is REN21’s executive secretary. “Governments and intergovernmental organizations are part of REN21 and the network,” she told CNBC’s Sustainable Energy. “We work with them to generate… knowledge but also to spread the information we are producing and to inform policy making,” she added.

REN21’s reports are available online and are free to view. Looking at the bigger picture, shining light on data in a concise and clear way will be a crucial tool if attitudes are to change and the world is to transition to more renewable sources of energy.

“If we look at the energy that we consume globally we need to keep in mind that most of it, actually more than 80%, is used for heating and cooling as well as for transport,” Thomas Andre, a project manager and analyst at REN21, told CNBC, adding that renewables were “barely increasing” in those two sectors.

“This imbalance is directly linked to another one, which is the lack of political attention in those two sectors as opposed to the electricity one,” Andre said. “So we need to move from an electricity transition to an energy transition.”

REN21 is one of several bodies focusing on renewable energy and the environment. Others include Future Earth, which in the words of its executive director, Amy Luers, is “an international network of researchers and innovators working together to advance the global sustainability agenda.”

Luers told CNBC that as well as responding to requests from the United Nations for policy briefs, Future Earth also worked with cities, local governments, the private sector and civil society.

“What our community does is help to understand complex issues and… look at trade-offs and synergies and find solutions,” she added.


Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: anmar frangoul
Keywords: news, cnbc, companies, helping, international, world, future, lay, network, global, told, energy, renewable, ren21, organizations, transition, foundations, governments, policy


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Jay Leno loves his Tesla: ‘There’s almost no reason to have a gas car’

Jay Leno told CNBC on Tuesday that electric cars are the future and that the days are numbered for gasoline-fueled cars. They’re faster than the gas car. So there’s almost no reason to have a gas car unless you’re doing long-haul duty.” This isn’t the first time Leno praised the electric car maker and its CEO, Elon Musk. “Jay Leno’s Garage,” a CNBC series about motor vehicles starring Jay Leno, announced its fifth season will premiere Aug 28.


Jay Leno told CNBC on Tuesday that electric cars are the future and that the days are numbered for gasoline-fueled cars. They’re faster than the gas car. So there’s almost no reason to have a gas car unless you’re doing long-haul duty.” This isn’t the first time Leno praised the electric car maker and its CEO, Elon Musk. “Jay Leno’s Garage,” a CNBC series about motor vehicles starring Jay Leno, announced its fifth season will premiere Aug 28.
Jay Leno loves his Tesla: ‘There’s almost no reason to have a gas car’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: jasmine kim
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Jay Leno loves his Tesla: 'There's almost no reason to have a gas car'

Jay Leno told CNBC on Tuesday that electric cars are the future and that the days are numbered for gasoline-fueled cars.

“I have a Tesla. I’ve had it for three years. I’ve never done anything. There’s no fluids to change. There’s nothing, ” he shared on “The Exchange. ”

The comedian and host of CNBC’s “Jay Leno’s Garage ” shared his affinity for Tesla and the exciting future of electric cars.

“For new technology to succeed, it can’t be equal,” he said. “It’s got to be better and [Tesla] sort of solved the battery problem. It can go 350 to 400 miles at a charge. … There’s no maintenance. They’re faster than the gas car. So there’s almost no reason to have a gas car unless you’re doing long-haul duty.”

This isn’t the first time Leno praised the electric car maker and its CEO, Elon Musk.

“It’s a tough business to get into and the fact that Tesla is making a go of it — and quite successfully — I think is impressive. It should be applauded,” he told CNBC’s Make It three years ago.

“Here’s a guy building an American car in America using American labor and paying them a union wage — the whole bit. Why are you not rooting for it to be successful? I don’t quite understand that,” the comedian said about Musk.

Leno implied Tuesday that he sees electric cars taking over the automobile industry in the future as technology advances.

“Steam ran everything from 1800 to about 1911. Then internal combustion took over from 1911 to right about now. And I predict that a child born today probably has as much chance of driving in a gas car as people today have been driving a car with a stick shift,” he told CNBC.

“They’ll still be around. It’s just not many of them.”

“Jay Leno’s Garage,” a CNBC series about motor vehicles starring Jay Leno, announced its fifth season will premiere Aug 28.


Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: jasmine kim
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The future of Hong Kong’s property market is looking ‘dim,’ researcher says

“If you look at Hong Kong’s property market, historically, basically when the U.S. economy catches a cold or sneezes, Hong Kong’s property market is going to catch a cold,” Ma told CNBC. The future for Hong Kong’s property market is bleak, according to a commercial real estate services researcher. Residential units are seen clustered tightly together in an apartment complex in the Quarry Bay area of Hong Kong. The real-estate sector is tracked as an indicator of the health of the wider Hong Kong


“If you look at Hong Kong’s property market, historically, basically when the U.S. economy catches a cold or sneezes, Hong Kong’s property market is going to catch a cold,” Ma told CNBC. The future for Hong Kong’s property market is bleak, according to a commercial real estate services researcher. Residential units are seen clustered tightly together in an apartment complex in the Quarry Bay area of Hong Kong. The real-estate sector is tracked as an indicator of the health of the wider Hong Kong
The future of Hong Kong’s property market is looking ‘dim,’ researcher says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: stella soon
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The future of Hong Kong's property market is looking 'dim,' researcher says

“If you look at Hong Kong’s property market, historically, basically when the U.S. economy catches a cold or sneezes, Hong Kong’s property market is going to catch a cold,” Ma told CNBC.

That “dim outlook” on the city’s property comes amid a possible U.S. recession and China -U.S. trade tensions, Denis Ma, head of research at Jones Lang LaSalle, said Tuesday.

The future for Hong Kong’s property market is bleak, according to a commercial real estate services researcher.

Residential units are seen clustered tightly together in an apartment complex in the Quarry Bay area of Hong Kong.

Property is regarded as critical to Hong Kong’s financial stability. The real-estate sector is tracked as an indicator of the health of the wider Hong Kong economy and banking sector, according to the Hong Kong Monetary Authority.

The U.S. economy is one factor that could weigh on the Hong Kong property market, said Ma.

Analysts have suggested a looming recession could befall the U.S. in the year ahead. Last week, Morgan Stanley economists said there is a “credible bear case” for a recession, and set their estimates for such a downturn at 20%.

Similarly, the Federal Reserve Bank of New York’s recession probability indicator estimated a 33% chance of a U.S. recession by June 2020.

Despite that, Federal Reserve Chairman Jerome Powell said the Fed’s 25-basis-point rate cut yesterday was not the start of a cutting cycle — as in a recession.

“When you think about rate-cutting cycles, they go on for a long time and the committee’s not seeing that. Not seeing us in that place. You would do that if you saw real economic weakness and you thought that the federal funds rate needed to be cut a lot. That’s not what we’re seeing,” Powell said.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: stella soon
Keywords: news, cnbc, companies, researcher, seeing, sector, looking, market, dim, recession, federal, property, economy, hong, future, kong, kongs


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Fed disappoints markets by sounding more ‘neutral’ than dovish

When the Fed, as expected, cut interest rates by a quarter point, it disappointed markets because it did not tip its hand on future rate reductions. ET Fed statement. Two Fed officials, Kansas City Fed President Esther George and Boston Fed President Eric Rosengren dissented, as expected, but the dissents themselves create a lack of clarity about future policy. That program involved the rolldown of securities on the Fed’s balance sheet, which the Fed will now replace as they mature. The Fed has


When the Fed, as expected, cut interest rates by a quarter point, it disappointed markets because it did not tip its hand on future rate reductions. ET Fed statement. Two Fed officials, Kansas City Fed President Esther George and Boston Fed President Eric Rosengren dissented, as expected, but the dissents themselves create a lack of clarity about future policy. That program involved the rolldown of securities on the Fed’s balance sheet, which the Fed will now replace as they mature. The Fed has
Fed disappoints markets by sounding more ‘neutral’ than dovish Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-31  Authors: patti domm
Keywords: news, cnbc, companies, rates, sounding, dovish, disappoints, cut, fed, expected, statement, future, markets, cutting, inflation, neutral, global, going


Fed disappoints markets by sounding more 'neutral' than dovish

When the Fed, as expected, cut interest rates by a quarter point, it disappointed markets because it did not tip its hand on future rate reductions.

Bond yields fluctuated, but were off lows of the session, which were hit right before the 2 p.m. ET Fed statement. Yields rose and backtracked, and stocks fell. The 2-year yield was at 1.83% and the Dow was down about 50 points just before Fed Chairman Jerome Powell began speaking at 2:30 p.m. ET.

“Reading the statement, they’re basically just leaving it open. It’s a cut and we’re going to play it by ear. We’re not precommitting to any future move,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “We gave the market what you wanted. We’re going to play it by ear. The first paragraph on growth on the economy and inflation was basically identical to June when they did not cut.”

Two Fed officials, Kansas City Fed President Esther George and Boston Fed President Eric Rosengren dissented, as expected, but the dissents themselves create a lack of clarity about future policy.

“They threw in one statement on … global developments … and we got two dissents as expected,” said Boockvar.

The Fed also ended its quantitative tightening program two months early, as expected. That program involved the rolldown of securities on the Fed’s balance sheet, which the Fed will now replace as they mature.

“We have to see Powell’s press conference for the tone and nuance around their outlook. It’s a little more neutral than I would say dovish. They ended the balance sheet early and there were two dissenters,” said John Briggs, head of strategy at NatWest.

The Fed revised its statement to include that it was cutting rates because of “the implications of global developments for the economic outlook as well as muted inflation pressures”

Strategists said the Fed was facing the difficult task of explaining why it was cutting interest rates at a time when U.S. data appears to be improving. The Fed has been citing soft inflation and concerns about global growth and trade war uncertainties.

Economists have been expecting the Fed to signal more cutting. “If you get 25 [basis point cut] today, it probably means another one is going to follow,” said Jefferies chief financial economist Ward McCarthy just before the statement was released at 2 p.m.


Company: cnbc, Activity: cnbc, Date: 2019-07-31  Authors: patti domm
Keywords: news, cnbc, companies, rates, sounding, dovish, disappoints, cut, fed, expected, statement, future, markets, cutting, inflation, neutral, global, going


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Cargo drones could be the future of the shipping industry

Today, container ships transport over 90% of all goods in the world and more than $4 trillion worth annually, according to the World Shipping Council. But, it can take over a month for those goods to sail from Beijing to New York. By land, trucks move nearly 71% of all the freight tonnage in the U.S., according to the American Trucking Association. Startups like Natilus, Volans-i, Matternet and Zipline believe the answer is autonomous flying drones that can carry goods, even heavy cargo, and fly


Today, container ships transport over 90% of all goods in the world and more than $4 trillion worth annually, according to the World Shipping Council. But, it can take over a month for those goods to sail from Beijing to New York. By land, trucks move nearly 71% of all the freight tonnage in the U.S., according to the American Trucking Association. Startups like Natilus, Volans-i, Matternet and Zipline believe the answer is autonomous flying drones that can carry goods, even heavy cargo, and fly
Cargo drones could be the future of the shipping industry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: dain evans
Keywords: news, cnbc, companies, future, industry, global, zipline, worth, york, drones, goods, thats, according, watch, world, cargo, shipping


Cargo drones could be the future of the shipping industry

Today, container ships transport over 90% of all goods in the world and more than $4 trillion worth annually, according to the World Shipping Council. But, it can take over a month for those goods to sail from Beijing to New York. By land, trucks move nearly 71% of all the freight tonnage in the U.S., according to the American Trucking Association. Problem is, there’s a shortage of truck drivers in the U.S. So, how do you speed up shipments while keeping personnel low?

Startups like Natilus, Volans-i, Matternet and Zipline believe the answer is autonomous flying drones that can carry goods, even heavy cargo, and fly long distances to deliver products, supplies or even medical samples.

The global drone logistics and transportation market generated more than $24 million in revenue in 2018, a number that’s expected to grow to $1.6 billion in 2027, according to The Insight Partners. These drones could be the disruption needed in a global supply chain that’s been fairly stagnant since the 1950s. Watch the video to learn more.


Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: dain evans
Keywords: news, cnbc, companies, future, industry, global, zipline, worth, york, drones, goods, thats, according, watch, world, cargo, shipping


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