How this company helps protect businesses from email fraud

How this company helps protect businesses from email fraud10 Hours AgoGary Steele, CEO of Proofpoint, sits down with “Squawk Box” to explain the training that Proofpoint offers to train employees to identify fraudulent emails.


How this company helps protect businesses from email fraud10 Hours AgoGary Steele, CEO of Proofpoint, sits down with “Squawk Box” to explain the training that Proofpoint offers to train employees to identify fraudulent emails.
How this company helps protect businesses from email fraud Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19
Keywords: news, cnbc, companies, helps, protect, offers, sits, identify, hours, fraud, training, proofpoint, squawk, company, businesses, steele, email, train


How this company helps protect businesses from email fraud

How this company helps protect businesses from email fraud

10 Hours Ago

Gary Steele, CEO of Proofpoint, sits down with “Squawk Box” to explain the training that Proofpoint offers to train employees to identify fraudulent emails.


Company: cnbc, Activity: cnbc, Date: 2019-03-19
Keywords: news, cnbc, companies, helps, protect, offers, sits, identify, hours, fraud, training, proofpoint, squawk, company, businesses, steele, email, train


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Canadian immigration lawyer sees one way Huawei CFO’s civil suit helps her in extradition case

Huawei Chief Financial Officer Meng Wanzhou’s civil lawsuit against Canada could give her defense team a potential advantage to fight her extradition to the United States, a lawyer told CNBC on Thursday. Last week, Meng’s lawyers said they were suing the Canadian government, its border agency and the country’s federal police for their role in arresting her at the request of the U.S., Reuters said. Meng’s “defense got creative last week,” Richard Kurland, a policy analyst and lawyer from Kurland


Huawei Chief Financial Officer Meng Wanzhou’s civil lawsuit against Canada could give her defense team a potential advantage to fight her extradition to the United States, a lawyer told CNBC on Thursday. Last week, Meng’s lawyers said they were suing the Canadian government, its border agency and the country’s federal police for their role in arresting her at the request of the U.S., Reuters said. Meng’s “defense got creative last week,” Richard Kurland, a policy analyst and lawyer from Kurland
Canadian immigration lawyer sees one way Huawei CFO’s civil suit helps her in extradition case Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, defense, right, officials, lawyers, huawei, immigration, extradition, week, cfos, suit, told, mengs, helps, lawyer, civil, vancouver, way, sees


Canadian immigration lawyer sees one way Huawei CFO's civil suit helps her in extradition case

Huawei Chief Financial Officer Meng Wanzhou’s civil lawsuit against Canada could give her defense team a potential advantage to fight her extradition to the United States, a lawyer told CNBC on Thursday.

Last week, Meng’s lawyers said they were suing the Canadian government, its border agency and the country’s federal police for their role in arresting her at the request of the U.S., Reuters said. The CFO was arrested in Vancouver on Dec. 1.

Meng’s “defense got creative last week,” Richard Kurland, a policy analyst and lawyer from Kurland Tobe immigration law firm, told CNBC’s “Squawk Box.”

“There’s a multiplicity of litigation in this Huawei affair,” he said, explaining that the civil proceedings could be used to pry documents and information from senior government officials from both the U.S. and Canada that may ultimately aid Meng’s side in the extradition case.

Meng’s lawyers argue she was detained, searched and interrogated for three hours in Vancouver before her arrest in violation of her constitutional rights, including the right to remain silent or the right to counsel.

Kurland pointed out the defense could argue evidence gathered prior to the arrest is inadmissible in court. They can further state “the conduct at the airport, on arrival, by Canadian government officials brings the administration of justice into disrepute. And the entire extradition case falls on that,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, defense, right, officials, lawyers, huawei, immigration, extradition, week, cfos, suit, told, mengs, helps, lawyer, civil, vancouver, way, sees


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80% of employees only care about their paychecks—here’s how to beat anxiety (and actually enjoy work)

The world of work is meant to make you as productive and engaged as possible. However, a whopping eight out of 10 people are simply coming to work for the paycheck. It’s no wonder that anxiety is at an all-time high when we believe that work must entail suffering. But there’s the good news: Two out of 10 of us are actually invigorated by our work. And although the majority view work as a means to an end, for this lucky minority work helps them become more of who they are.


The world of work is meant to make you as productive and engaged as possible. However, a whopping eight out of 10 people are simply coming to work for the paycheck. It’s no wonder that anxiety is at an all-time high when we believe that work must entail suffering. But there’s the good news: Two out of 10 of us are actually invigorated by our work. And although the majority view work as a means to an end, for this lucky minority work helps them become more of who they are.
80% of employees only care about their paychecks—here’s how to beat anxiety (and actually enjoy work) Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: marcus buckingham, guest contributor
Keywords: news, cnbc, companies, ubiquitous, meant, helps, work, anxiety, whopping, view, paychecksheres, transaction, actually, enjoy, world, majority, care, beat, 80, employees, wonder


80% of employees only care about their paychecks—here's how to beat anxiety (and actually enjoy work)

The world of work is meant to make you as productive and engaged as possible. However, a whopping eight out of 10 people are simply coming to work for the paycheck. If you are a part of this majority, then you probably think of work as a transaction — you sell your time and your talent to your employer, and they pay you so you can buy things.

It’s no wonder that anxiety is at an all-time high when we believe that work must entail suffering. One of the most ubiquitous constants in our lives, and especially our jobs, is something that is meant to be endured, not enjoyed.

But there’s the good news: Two out of 10 of us are actually invigorated by our work. These are the people who feel resilient, creative, focused, collaborative, generous and open in their caeers. And although the majority view work as a means to an end, for this lucky minority work helps them become more of who they are. It helps them flourish.

So, how do you become one of these two out of 10 people?


Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: marcus buckingham, guest contributor
Keywords: news, cnbc, companies, ubiquitous, meant, helps, work, anxiety, whopping, view, paychecksheres, transaction, actually, enjoy, world, majority, care, beat, 80, employees, wonder


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The company that helps Kylie Jenner sell her products is moving into cannabis: COO

The company that helped Kylie Jenner make almost $1 billion from selling her branded products is now moving into the cannabis space, its chief operating officer told CNBC on Tuesday. Shopify, a Canadian e-commerce company that helps merchants set up online stores and sell products directly to consumers, recently announced that it would offer the same opportunity to Canadian cannabis merchants on the heels of the country’s recreational legalization. Now, the cannabis-related section of its websit


The company that helped Kylie Jenner make almost $1 billion from selling her branded products is now moving into the cannabis space, its chief operating officer told CNBC on Tuesday. Shopify, a Canadian e-commerce company that helps merchants set up online stores and sell products directly to consumers, recently announced that it would offer the same opportunity to Canadian cannabis merchants on the heels of the country’s recreational legalization. Now, the cannabis-related section of its websit
The company that helps Kylie Jenner sell her products is moving into cannabis: COO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, canadian, sell, coo, helps, told, moving, products, kylie, jenner, selling, cannabis, think, canada, company, merchants, sales


The company that helps Kylie Jenner sell her products is moving into cannabis: COO

The company that helped Kylie Jenner make almost $1 billion from selling her branded products is now moving into the cannabis space, its chief operating officer told CNBC on Tuesday.

Shopify, a Canadian e-commerce company that helps merchants set up online stores and sell products directly to consumers, recently announced that it would offer the same opportunity to Canadian cannabis merchants on the heels of the country’s recreational legalization.

Shopify is already known to have celebrity clients like Jenner, Kanye West and Drake. Now, the cannabis-related section of its website touts customers of pot-induced fame like Canopy Growth and Aurora Cannabis.

“The reason we started with Canada was there was clarity in Canada,” Harley Finkelstein, Shopify’s COO, told CNBC’s Jim Cramer. “We felt it was really important for us to act quickly and effectively to not only win as much of the Canadian market as we possibly could, but also to show the rest of the world as they begin to think about cannabis sales that we are the first phone call that they should be making.”

Shopify’s selling point for other marijuana retailers will be similar to its stated mission: to help sellers find, keep and sell directly to consumers. In the last year, its customer base has grown from 600,000 to 820,000 — and countries gradually normalizing cannabis use could be the next leg higher.

“Whether it’s the province of Ontario, or British Columbia, or most of the largest licensed producers like Canopy in Canada, Shopify is what’s powering those retail sales and we think that we can do a great job helping other countries and other regions do the same thing,” Finkelstein said on “Mad Money.”

Shopify’s stock edged higher on Tuesday, brushing off an earlier earnings report that missed forecast expectations. Shares closed up 1.11 percent at $232.37.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, canadian, sell, coo, helps, told, moving, products, kylie, jenner, selling, cannabis, think, canada, company, merchants, sales


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Facebook just bought a start-up that helps you shop for furniture using AI

Facebook on Friday announced its acquisition of GrokStyle, a San Francisco start-up that uses artificial intelligence technology to help users shop for furniture. “We are excited to welcome GrokStyle to Facebook,” Facebook spokeswoman Vanessa Chan said in a statement. GrokStyle published a goodbye post for its customers, users and investors, saying the company would be winding down business. “Today, we are excited to share that we are moving on as a team,” GrokStyle announced on its website. “Ou


Facebook on Friday announced its acquisition of GrokStyle, a San Francisco start-up that uses artificial intelligence technology to help users shop for furniture. “We are excited to welcome GrokStyle to Facebook,” Facebook spokeswoman Vanessa Chan said in a statement. GrokStyle published a goodbye post for its customers, users and investors, saying the company would be winding down business. “Today, we are excited to share that we are moving on as a team,” GrokStyle announced on its website. “Ou
Facebook just bought a start-up that helps you shop for furniture using AI Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: salvador rodriguez, getty images
Keywords: news, cnbc, companies, startup, grokstyle, shop, company, using, excited, furniture, helps, ai, announced, winding, team, users, technology, facebook, bought


Facebook just bought a start-up that helps you shop for furniture using AI

Facebook on Friday announced its acquisition of GrokStyle, a San Francisco start-up that uses artificial intelligence technology to help users shop for furniture.

“We are excited to welcome GrokStyle to Facebook,” Facebook spokeswoman Vanessa Chan said in a statement. The company did not disclose a purchase price. “Their team and technology will contribute to our AI capabilities.”

GrokStyle published a goodbye post for its customers, users and investors, saying the company would be winding down business. On the Ikea mobile app, users can snap a photo of a piece of furniture and use GrokStyle’s technology to receive matches for similar products.

“Today, we are excited to share that we are moving on as a team,” GrokStyle announced on its website. “Our team and technology will live on, and we will continue using our AI to build great visual search experiences for retail.”

The deal was first reported by Bloomberg.

WATCH: Facebook, Snapchat and TikTok have a massive underage user problem — here’s why it matters


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: salvador rodriguez, getty images
Keywords: news, cnbc, companies, startup, grokstyle, shop, company, using, excited, furniture, helps, ai, announced, winding, team, users, technology, facebook, bought


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Obamacare helps save low-income people from losing their homes, study shows

The price of health care is the biggest concern among Americans these days, according to a recent FOX News poll. That makes sense, given that Americans routinely postpone or skip medical treatment when they can’t afford it. Others who need care must make difficult choices, like paying for care with money they need for housing, according to a recent study published in the Journal of Public Economics. The Affordable Care Act, commonly called Obamacare, though, can help, the study shows: Families w


The price of health care is the biggest concern among Americans these days, according to a recent FOX News poll. That makes sense, given that Americans routinely postpone or skip medical treatment when they can’t afford it. Others who need care must make difficult choices, like paying for care with money they need for housing, according to a recent study published in the Journal of Public Economics. The Affordable Care Act, commonly called Obamacare, though, can help, the study shows: Families w
Obamacare helps save low-income people from losing their homes, study shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: yoni blumberg, pacific press, getty images, -emily gallagher, assistant professor of finance at uc boulder
Keywords: news, cnbc, companies, shows, losing, lowincome, recent, need, care, save, obamacare, homes, helps, lead, gallagher, coverage, americans, payments, health, study


Obamacare helps save low-income people from losing their homes, study shows

The price of health care is the biggest concern among Americans these days, according to a recent FOX News poll.

That makes sense, given that Americans routinely postpone or skip medical treatment when they can’t afford it. Others who need care must make difficult choices, like paying for care with money they need for housing, according to a recent study published in the Journal of Public Economics.

The Affordable Care Act, commonly called Obamacare, though, can help, the study shows: Families with access to subsidized health coverage through the ACA were 25 percent less likely to miss rent or mortgage payments than those without.

Since being delinquent on payments can lead to eviction or foreclosure, having health care coverage lessens the chance that you end up homeless, Emily Gallagher, lead author of the study, an assistant professor of finance at the University of Colorado, Boulder, tells CNBC Make It.

“Health costs play a determinant role in the financial stability of low-income Americans,” Gallagher says. “This isn’t merely correlation. It is causal.”


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: yoni blumberg, pacific press, getty images, -emily gallagher, assistant professor of finance at uc boulder
Keywords: news, cnbc, companies, shows, losing, lowincome, recent, need, care, save, obamacare, homes, helps, lead, gallagher, coverage, americans, payments, health, study


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Netflix price hike helps Disney upcoming streaming service: Analyst

Aegis put a hold on Neflix at current levels because it’s about 8 percent higher than Anthony’s price target of $325. Disney, which agreed to purchase Twenty-First Century Fox assets last summer, said it would pull its movies from Netflix when it launches Disney+ in late 2019. New Constructs’ Trainer said Netflix is vulnerable because it’s a “one-trick pony” with an online distribution system that is not “defensible.” “You can count on one hand the number of firms that have, over time, successfu


Aegis put a hold on Neflix at current levels because it’s about 8 percent higher than Anthony’s price target of $325. Disney, which agreed to purchase Twenty-First Century Fox assets last summer, said it would pull its movies from Netflix when it launches Disney+ in late 2019. New Constructs’ Trainer said Netflix is vulnerable because it’s a “one-trick pony” with an online distribution system that is not “defensible.” “You can count on one hand the number of firms that have, over time, successfu
Netflix price hike helps Disney upcoming streaming service: Analyst Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: tyler clifford
Keywords: news, cnbc, companies, hike, content, theyve, service, helps, online, number, analyst, quarter, upcoming, disney, original, subscriber, netflix, streaming, price


Netflix price hike helps Disney upcoming streaming service: Analyst

Snap should ‘take check from anyone who comes knocking’, says expert 4 Hours Ago | 05:21

The Netflix price increase for U.S. subscribers ranges between 13 percent and 18 percent, which Victory Anthony of Aegis Capital sees as a positive, a view generally shared by much of the investment community.

“It’s all profit for the price increase and so they can either use that to invest in more original content or they can let that drop down to their down to the bottom line,” Anthony said on “Squawk Alley” Thursday.

Aegis put a hold on Neflix at current levels because it’s about 8 percent higher than Anthony’s price target of $325. The stock was trading steady around $351 midday Thursday, up more than 50 percent since the Christmas Eve washout. Netflix releases its fourth quarter earnings after the bell Thursday. Netflix last reported double-digit user growth, with 58 million U.S. and 78 million international subscribers.

Original content aside, Netflix has built its large subscriber base, in part, on licensed content from a number of third-party TV and movie studios that plan to crowd into the video streaming market, which already includes other established online rivals such as Amazon and Hulu.

Disney, which agreed to purchase Twenty-First Century Fox assets last summer, said it would pull its movies from Netflix when it launches Disney+ in late 2019. AT&T’s WarnerMedia announced in October it would release a platform in the fourth quarter of 2019. Apple could be dropping a service this year, Comcast’s NBCUniversal on Monday revealed plans for a free streaming program with ads slated for early 2020.

New Constructs’ Trainer said Netflix is vulnerable because it’s a “one-trick pony” with an online distribution system that is not “defensible.” The company can keep growing its subscriber base, but it will need to address cash flow, he said.

“You can count on one hand the number of firms that have, over time, successfully monetized original content. It’s an expensive, difficult proposition,” he argued. “Disney’s done it and part of the reason they’ve done [it] is because they’ve got better ways of monetizing.”

— Disclosure: NBCUniversal is the parent company of CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: tyler clifford
Keywords: news, cnbc, companies, hike, content, theyve, service, helps, online, number, analyst, quarter, upcoming, disney, original, subscriber, netflix, streaming, price


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Facebook co-founder helps give 20 struggling moms in Mississippi $1,000 a month free cash

“I’ll be able to pay the bills on time and not have to get extensions. In the future I know the kids want to start doing more things at school and I’ll be able to pay for that. Out of 110 women eligible for the cash payment, only 37 entered the lottery, NBC Left Field reported. So whenever you have an increase in income, your benefits automatically decrease,” Nyandoro says to NBC Left Field. So The Magnolia Mother’s Trust seeks “to continue the story of dignity, empowerment and collaboration tha


“I’ll be able to pay the bills on time and not have to get extensions. In the future I know the kids want to start doing more things at school and I’ll be able to pay for that. Out of 110 women eligible for the cash payment, only 37 entered the lottery, NBC Left Field reported. So whenever you have an increase in income, your benefits automatically decrease,” Nyandoro says to NBC Left Field. So The Magnolia Mother’s Trust seeks “to continue the story of dignity, empowerment and collaboration tha
Facebook co-founder helps give 20 struggling moms in Mississippi $1,000 a month free cash Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: catherine clifford, pixelchrome inc, digitalvision, getty images, photo courtesy inherent good documentary, photo courtesy andrew yang, olivia michael
Keywords: news, cnbc, companies, struggling, moms, know, ill, income, mississippi, month, free, facebook, cash, 20, able, pay, nyandoro, cofounder, need, idea, benefits, helps


Facebook co-founder helps give 20 struggling moms in Mississippi $1,000 a month free cash

Of course, there are objections to the idea of a universal basic income: namely that it is expensive and will remove motivation to work.

Because the program is new, Nyandoro knows it is a risk.

“Nothing quite like it has ever been tried before, and we do not have data and numbers to prove to funders this model will work. But what we do have are the stories and words of our families who have told us this is what they need, and we believe them,” Nyandoro writes.

For example, recipient LaKeshia Jones, a mom of four, who works as a nanny with unpredictable hours, says the money can offer security for her family.

“For the most part, I want to save it, so I know I will have money when I need it,” Jones told Rewire.News. “I’ll be able to pay the bills on time and not have to get extensions. In the future I know the kids want to start doing more things at school and I’ll be able to pay for that. I’ll be able to pay for a tutor for my son. It’s going to help a lot.”

But not all moms felt that way. Out of 110 women eligible for the cash payment, only 37 entered the lottery, NBC Left Field reported. That’s in part because the increase income would mean a decrease in benefits from other federal subsidy programs.

“The reality is in this country it is virtually impossible to exit poverty. And that is because all of our benefits are punitive. So whenever you have an increase in income, your benefits automatically decrease,” Nyandoro says to NBC Left Field.

What is really changing for these women living in extreme poverty who have opted to take part in the program is they are able to decide what to do with the cash. Fundamental to the idea of universal basic income is the idea that individuals know what they need and will make the best decisions for themselves and their family.

“We believe all people have the strength and capacity to be the authors of their own lives,” Nyandoro writes in the Clarion Ledger. So The Magnolia Mother’s Trust seeks “to continue the story of dignity, empowerment and collaboration that also defines Mississippi.”

See also:

Facebook co-founder’s new $10 million initiative to test if cash handouts will help fix America

This California city’s 27-year-old mayor will give residents $500 free cash per month

Presidential hopeful Andrew Yang is giving this New Hampshire mom $1,000 a month to show cash handouts work


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: catherine clifford, pixelchrome inc, digitalvision, getty images, photo courtesy inherent good documentary, photo courtesy andrew yang, olivia michael
Keywords: news, cnbc, companies, struggling, moms, know, ill, income, mississippi, month, free, facebook, cash, 20, able, pay, nyandoro, cofounder, need, idea, benefits, helps


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‘Shark Tank’ hopeful AquaVault helps give vacationers peace of mind

From that experience, AquaVault was born: The startup’s product offers portable safes that help keep valuables protected from theft. The AquaVault team took their product to “Shark Tank,” seeking $75,000 in exchange for 12 percent stake. In regard to where the company stands today after “Shark Tank,” Samtani said that their team’s growth has since exploded. “Shark Tank is such a powerful platform,” Samtani told CNBC. Don’t miss the AquaVault team pitch their company on “Shark Tank” Sunday 6P ET


From that experience, AquaVault was born: The startup’s product offers portable safes that help keep valuables protected from theft. The AquaVault team took their product to “Shark Tank,” seeking $75,000 in exchange for 12 percent stake. In regard to where the company stands today after “Shark Tank,” Samtani said that their team’s growth has since exploded. “Shark Tank is such a powerful platform,” Samtani told CNBC. Don’t miss the AquaVault team pitch their company on “Shark Tank” Sunday 6P ET
‘Shark Tank’ hopeful AquaVault helps give vacationers peace of mind Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: claire rodgers, sophia fraioli
Keywords: news, cnbc, companies, vacationers, shark, samtani, went, peace, hopeful, helps, aquavault, company, asked, product, tank, valuables, team, mind


'Shark Tank' hopeful AquaVault helps give vacationers peace of mind

The AquaVault team wants to put an end to beach bag theft 1:04 PM ET Fri, 4 Jan 2019 | 01:01

Walking away from your valuables to take a care-free swim at the pool or beach can be an unsettling feeling, and with good reason. Three friends discovered that the hard way, and it helped them start a business.

After Robert Peck, Jonathan Kinas, and Avin Samtani got their items swiped from under their lounge chairs, they knew there needed to be a product that could bring peace of mind. From that experience, AquaVault was born: The startup’s product offers portable safes that help keep valuables protected from theft.

“What we went through is a common problem,” Samtani said in an email to CNBC.

“You’re on vacation laying out and want to go for a swim, but what do you do with your valuables?” he asked. “You’re either constantly looking back at your stuff, staying within sight, or someone has to stay back and keep guard. There is always that uneasy feeling of leaving your stuff unattended.”

The AquaVault team took their product to “Shark Tank,” seeking $75,000 in exchange for 12 percent stake. The results took a turn that nobody saw coming – even the co-founders.

“Everything we did to prepare pretty much flew out the window the moment we stepped in, because they asked us entirely different questions than we had expected,” Samtani said.

Despite the surprise, the co-founders had a rebuttal for every question that came their way. That is, until Mark Cuban asked for the number of units they’ve sold online. The answer being a mere 250.

“Whoa!” Kevin O’Leary said throwing his hands in the air.

“That’s low guys.” Robert Herjavec said. “Maybe there’s a problem.”

Of course, not everyone is going to sway the hearts of the panel of investors, who are notoriously hard-to-please. However, their feedback wasn’t the nail to the coffin of AquaVault’s pitch, and viewers can expect to see the unexpected.

In regard to where the company stands today after “Shark Tank,” Samtani said that their team’s growth has since exploded.

“Shark Tank is such a powerful platform,” Samtani told CNBC. “It instantly gives your company credibility and separates you from others. Running a business is a true roller coaster ride with major highs and lows.

The entrepreneur added: “We went from $87,000 in sales when we first appeared on the show to now generating millions per year with a recent valuation at over $20,000,000.”

Don’t miss the AquaVault team pitch their company on “Shark Tank” Sunday 6P ET on CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: claire rodgers, sophia fraioli
Keywords: news, cnbc, companies, vacationers, shark, samtani, went, peace, hopeful, helps, aquavault, company, asked, product, tank, valuables, team, mind


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Fed’s Williams helps recast views of Fed, says it will be flexible

“The median [interest rate forecast] is not the Fed’s view. In its forecast, it reduced its median interest rate forecast, derived from all Fed officials’ opinions, to two rate hikes from three. Those factors have led to more market chatter about whether the Fed balance sheet program is unnecessarily removing liquidity from markets. Quantitative easing, or the Fed’s purchases of securities after the financial crisis, ballooned the balance sheet. “I did think Williams tried to walk back some of w


“The median [interest rate forecast] is not the Fed’s view. In its forecast, it reduced its median interest rate forecast, derived from all Fed officials’ opinions, to two rate hikes from three. Those factors have led to more market chatter about whether the Fed balance sheet program is unnecessarily removing liquidity from markets. Quantitative easing, or the Fed’s purchases of securities after the financial crisis, ballooned the balance sheet. “I did think Williams tried to walk back some of w
Fed’s Williams helps recast views of Fed, says it will be flexible Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: patti domm, noah berger, bloomberg, getty images
Keywords: news, cnbc, companies, feds, policy, fed, think, recast, market, views, interest, helps, williams, flexible, rate, balance, forecast, sheet


Fed's Williams helps recast views of Fed, says it will be flexible

New York Fed President John Williams took a step Friday toward undoing the blunt blow to markets delivered by the Federal Reserve and Fed Chairman Jerome Powell on Wednesday.

Stocks initially jumped, the dollar rose and bonds sold off, after Williams indicated the Fed would be flexible and could consider changing policy if the economy or financial conditions warrant. But the stock market erased those gains, which had pushed the Dow up over more than 300 points.

In an interview on CNBC’s “Squawk on the Street,” Williams made it clear the Fed would be dependent on economic data and other signs of business activity and sentiment before making a decision on interest rates. He also said the Fed will go into next year with its “eyes wide open” and reconsider programs such as its balance sheet reduction, if necessary.

“People are going to tell you the Federal Reserve softened its position, but I really think the market is coming around to the Fed’s views,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. “The median [interest rate forecast] is not the Fed’s view. Williams was playing up that these things are not carved in stone.”

The Fed unnerved markets Wednesday when it hiked interest rates and released a statement that was slightly more hawkish than expected. In its forecast, it reduced its median interest rate forecast, derived from all Fed officials’ opinions, to two rate hikes from three. But some market pros had been hoping the Fed might consider reducing its expectations even further, in line with its forecast that growth would slow next year and it is monitoring global economic weakness.

“It’s kind of just a reassessment trade. People took a step back and looked at what happened Wednesday and came to the conclusion it really isn’t all that different from what we should have expected,” said Ward McCarthy, chief financial economist at Jefferies.

Powell said the Fed was happy to maintain its balance sheet reduction on “autopilot.” That comment and other concerns about the Fed helped drive stocks lower, with the Dow losing more than 800 points Wednesday and Thursday. The Dow was up about 134 points to the psychological 23,000 level in late morning trading.

“I think even though Powell said autopilot, I think it was understood to address economic weakness, the Fed will use other policy tools. Everybody said the Federal Reserve may have made a policy mistake, but I would think today the market is correcting its overexaggerated response. Williams is not breaking any new ground. He saying it differently, but he’s reading from the same chorus book,” said Chandler.

Powell’s comment on the balance sheet rattled markets, as stocks have lost 15 percent or more from their highs and credit spreads have widened in recent weeks. Those factors have led to more market chatter about whether the Fed balance sheet program is unnecessarily removing liquidity from markets.

“We did not make a decision to change the balance sheet normalization right now, but as I said, we’re going to go into the new year with eyes wide open, willing to read the data, and reassess the economic outlook and take the right policy decisions,” Williams told CNBC.

The Fed is allowing about $50 billion a month to roll off its balance sheet as mortgage securities and Treasurys mature. Previously, it was making repurchases to replace all securities that matured.

“As far as the balance sheet goes, that is the great unknown. They’ve never given us a definitive objective of what they want the size to be,” said McCarthy. “They created an impression that they wanted it down to $3 trillion. It’s now about $4 trillion. If they maintain the caps throughout 2019, it will be down to around $3 trillion.”

McCarthy said he expects the balance sheet to become more a part of the policy discussion next year. Quantitative easing, or the Fed’s purchases of securities after the financial crisis, ballooned the balance sheet.

“What became apparent was [QE] was squeezing volatility and creating a one-way trade,” he said. “Shrinking the size of the balance sheet, I think, would increase volatility and make trades that are two-way. So far, that’s what we’re seeing.”

Treasury yields initially moved higher after Williams’ remarks but were steady in late morning trading.

“I did think Williams tried to walk back some of what Powell said,” said Peter Boockvar, chief investment strategist at Bleakley Advisory Group. But Boockvar said for now the Fed continues to reduce the balance sheet. “I don’t think that provided any relief on the rate side.”

McCarthy said the Fed sometimes becomes the “national scapegoat.”

“That’s what’s happening here,” said McCarthy. “It would be truly disturbing if the Fed changed what they thought was proper monetary policy because the market wanted them to do something different. Right now, we’re in the midst of a maelstrom. Nobody said it would be easy. For years, the Fed was criticized for putting the market on drugs. Now the Fed is trying to take the market off those drugs and people are complaining.”


Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: patti domm, noah berger, bloomberg, getty images
Keywords: news, cnbc, companies, feds, policy, fed, think, recast, market, views, interest, helps, williams, flexible, rate, balance, forecast, sheet


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