‘Urgent’ need for businesses to adapt to growing threat from climate change, McKinsey says

As the climate crisis intensifies and as the wide-ranging economic impacts are felt up and down supply chains across continents, business leaders and governments cannot ignore the mounting economic risks, a report from McKinsey said Thursday. A dog looks out of a house flooded by Hurricane Maria, in Catano town, Juana Matos, Puerto Rico, on September 21, 2017. Or in India, McKinsey found that rising temperatures — and the subsequent hours of labor lost due to unsafe conditions — could shave as m


As the climate crisis intensifies and as the wide-ranging economic impacts are felt up and down supply chains across continents, business leaders and governments cannot ignore the mounting economic risks, a report from McKinsey said Thursday.
A dog looks out of a house flooded by Hurricane Maria, in Catano town, Juana Matos, Puerto Rico, on September 21, 2017.
Or in India, McKinsey found that rising temperatures — and the subsequent hours of labor lost due to unsafe conditions — could shave as m
‘Urgent’ need for businesses to adapt to growing threat from climate change, McKinsey says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: pippa stevens
Keywords: news, cnbc, companies, mckinsey, impacts, effects, urgent, threat, felt, supply, need, adapt, rising, study, businesses, temperatures, economic, growing, change, climate


'Urgent' need for businesses to adapt to growing threat from climate change, McKinsey says

As the climate crisis intensifies and as the wide-ranging economic impacts are felt up and down supply chains across continents, business leaders and governments cannot ignore the mounting economic risks, a report from McKinsey said Thursday. “Much as thinking about information systems and cyber-risks has become integrated into corporate and public-sector decision making, climate change and its resulting risks will also need to feature as a major factor in decisions,” McKinsey Global Institute director Jonathan Woetzel said in a statement.

A dog looks out of a house flooded by Hurricane Maria, in Catano town, Juana Matos, Puerto Rico, on September 21, 2017. Hector Retamal | AFP | Getty Images

The study focused on the physical effects of climate change, including on individuals and communities, as well as infrastructure and natural capital, and found that the knock-on effects from a changing planet are accelerating. This is primarily because while direct impacts such as hurricanes might be felt locally, the repercussions can get kicked down the supply chain and have surprising effects as communities become more interconnected. In Florida, for instance, rising tides could cut property values and reduce tax revenue. Or in India, McKinsey found that rising temperatures — and the subsequent hours of labor lost due to unsafe conditions — could shave as much as 4.5% from annual GDP. Around the world, rising ocean temperatures could reduce fish harvests, thereby impacting as many as 800 million people worldwide who rely on revenue from the industry. The study said trillions of dollars in economic activity and hundreds of millions lives are at risk. The impacts are already being felt — fires are raging in Australia and hurricanes have become ever more destructive.

Lack of preparation


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: pippa stevens
Keywords: news, cnbc, companies, mckinsey, impacts, effects, urgent, threat, felt, supply, need, adapt, rising, study, businesses, temperatures, economic, growing, change, climate


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Japan’s households cut spending amid impacts from sales tax, typhoon

Customers browse snacks and confectionary at a store in a shopping street in Kitakyushu, Fukuoka, Japan, on Wednesday, Jan. 25, 2017. Japanese households cut their spending for the first time in almost a year in October as a sales tax hike prompted consumers to rein in expenses and natural disasters disrupted business. That marked a sharp reversal from the 9.5% jump in September, the fastest growth on record as consumers rushed to buy goods before the Oct. 1 sales tax hike from 8% to 10%. “Not o


Customers browse snacks and confectionary at a store in a shopping street in Kitakyushu, Fukuoka, Japan, on Wednesday, Jan. 25, 2017.
Japanese households cut their spending for the first time in almost a year in October as a sales tax hike prompted consumers to rein in expenses and natural disasters disrupted business.
That marked a sharp reversal from the 9.5% jump in September, the fastest growth on record as consumers rushed to buy goods before the Oct. 1 sales tax hike from 8% to 10%.
“Not o
Japan’s households cut spending amid impacts from sales tax, typhoon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, amid, spending, japans, households, consumers, weaker, cut, wont, typhoon, consumer, research, hike, sales, tax, impacts


Japan's households cut spending amid impacts from sales tax, typhoon

Customers browse snacks and confectionary at a store in a shopping street in Kitakyushu, Fukuoka, Japan, on Wednesday, Jan. 25, 2017.

Japanese households cut their spending for the first time in almost a year in October as a sales tax hike prompted consumers to rein in expenses and natural disasters disrupted business.

Household spending dropped 5.1% in October from a year earlier, government data showed on Friday, down for the first time in 11 months and the biggest fall since March 2016 when spending fell 5.3% and weaker than the median forecast for a 3.0% decline.

That marked a sharp reversal from the 9.5% jump in September, the fastest growth on record as consumers rushed to buy goods before the Oct. 1 sales tax hike from 8% to 10%.

“Not only is the sales tax hike hurting consumer spending but impacts from the typhoon also accelerated the decline in the spending,” said Taro Saito, executive research fellow at NLI Research Institute.

“We expect the economy overall and consumer spending will contract in the current quarter and then moderately pick up January-March but such recovery won’t be strong enough.”


Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, amid, spending, japans, households, consumers, weaker, cut, wont, typhoon, consumer, research, hike, sales, tax, impacts


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BP’s third-quarter net profit tumbles 41% on weaker oil prices, weather impacts

Energy giant BP reported a 41% fall in third-quarter net profits on Tuesday, citing lower upstream earnings, weaker oil prices and maintenance and weather impacts. BP posted third-quarter underlying replacement cost profit, used as a proxy for net profit, of $2.3 billion, versus $2 billion, according to data from Refinitiv. The results show that the U.K.-based oil and gas company still managed to beat analyst expectations, despite a sharp drop in third-quarter net profits. Gilvary said that whil


Energy giant BP reported a 41% fall in third-quarter net profits on Tuesday, citing lower upstream earnings, weaker oil prices and maintenance and weather impacts.
BP posted third-quarter underlying replacement cost profit, used as a proxy for net profit, of $2.3 billion, versus $2 billion, according to data from Refinitiv.
The results show that the U.K.-based oil and gas company still managed to beat analyst expectations, despite a sharp drop in third-quarter net profits.
Gilvary said that whil
BP’s third-quarter net profit tumbles 41% on weaker oil prices, weather impacts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-29  Authors: sam meredith
Keywords: news, cnbc, companies, net, crude, compared, prices, profit, tumbles, period, thirdquarter, bps, weather, impacts, weaker, quarter, oil, billion


BP's third-quarter net profit tumbles 41% on weaker oil prices, weather impacts

Energy giant BP reported a 41% fall in third-quarter net profits on Tuesday, citing lower upstream earnings, weaker oil prices and maintenance and weather impacts.

BP posted third-quarter underlying replacement cost profit, used as a proxy for net profit, of $2.3 billion, versus $2 billion, according to data from Refinitiv. That compared with a profit of $3.8 billion over the same period a year earlier and $2.8 billion in the second quarter of 2019.

The results show that the U.K.-based oil and gas company still managed to beat analyst expectations, despite a sharp drop in third-quarter net profits.

Shares of BP dipped 0.5% shortly after the opening bell.

Here are the key points:

Underlying replacement cost profit, used as a proxy for net profit, for the third quarter of 2019 was $2.3 billion, compared to $3.8 billion a year earlier.

The third-quarter results, despite beating analyst expectations of $2 billion, represent a fall of 41% when compared to the same period a year earlier.

A dividend of 10.25 cents per share was announced for the quarter.

“Overall, it has actually given us a strong set of underlying earnings but, more importantly, strong operating cash — which has allowed us to stabilize debt this quarter,” BP CFO Brian Gilvary told CNBC’s “Squawk Box Europe” on Tuesday.

Gilvary said that while oil prices were “pretty finely poised,” crude futures seemed to be stabilizing somewhere around $60 a barrel.

“I think that sets us up well given we have got the company back into balance at $50 a barrel about two and a half years ago. So, therefore, we start to generate more surplus cash (and) that surplus cash will help us pay down the debt,” he added.

International benchmark Brent crude traded at $61.32 Tuesday morning, down around 0.4%, while U.S. West Texas Intermediate (WTI) stood at $55.53, more than 0.5% lower.

Brent crude prices have fallen almost 20% since an April peak, while WTI prices are down more than 15% over the same period.


Company: cnbc, Activity: cnbc, Date: 2019-10-29  Authors: sam meredith
Keywords: news, cnbc, companies, net, crude, compared, prices, profit, tumbles, period, thirdquarter, bps, weather, impacts, weaker, quarter, oil, billion


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Google Cloud hires HR lead from SAP as it prepares for aggressive growth

Cambridge Analytica insider: US following China when it comes to…”Just because it’s not the state doesn’t mean that there isn’t harmful impacts that could come if you have one or two large companies monitoring or tracking everything you…Technologyread more


Cambridge Analytica insider: US following China when it comes to…”Just because it’s not the state doesn’t mean that there isn’t harmful impacts that could come if you have one or two large companies monitoring or tracking everything you…Technologyread more
Google Cloud hires HR lead from SAP as it prepares for aggressive growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: jennifer elias
Keywords: news, cnbc, companies, hires, cloud, growth, tojust, youtechnologyread, mean, google, state, monitoring, lead, tracking, prepares, aggressive, impacts, isnt, large, sap, insider


Google Cloud hires HR lead from SAP as it prepares for aggressive growth

Cambridge Analytica insider: US following China when it comes to…

“Just because it’s not the state doesn’t mean that there isn’t harmful impacts that could come if you have one or two large companies monitoring or tracking everything you…

Technology

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Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: jennifer elias
Keywords: news, cnbc, companies, hires, cloud, growth, tojust, youtechnologyread, mean, google, state, monitoring, lead, tracking, prepares, aggressive, impacts, isnt, large, sap, insider


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The group responsible for governing Facebook’s libra currency lost its head of product

Cambridge Analytica insider: US following China when it comes to…”Just because it’s not the state doesn’t mean that there isn’t harmful impacts that could come if you have one or two large companies monitoring or tracking everything you…Technologyread more


Cambridge Analytica insider: US following China when it comes to…”Just because it’s not the state doesn’t mean that there isn’t harmful impacts that could come if you have one or two large companies monitoring or tracking everything you…Technologyread more
The group responsible for governing Facebook’s libra currency lost its head of product Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: salvador rodriguez
Keywords: news, cnbc, companies, head, responsible, lost, tojust, youtechnologyread, mean, monitoring, state, tracking, group, facebooks, currency, impacts, product, isnt, large, libra, insider, governing


The group responsible for governing Facebook's libra currency lost its head of product

Cambridge Analytica insider: US following China when it comes to…

“Just because it’s not the state doesn’t mean that there isn’t harmful impacts that could come if you have one or two large companies monitoring or tracking everything you…

Technology

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: salvador rodriguez
Keywords: news, cnbc, companies, head, responsible, lost, tojust, youtechnologyread, mean, monitoring, state, tracking, group, facebooks, currency, impacts, product, isnt, large, libra, insider, governing


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National Weather Service corrects Trump on Hurricane Dorian: ‘Alabama will not see any impacts’

President Trump ordered US firms to ditch China, but many already…President Trump rattled Wall Street when he demanded U.S. firms move production out of China. But some have already taken steps to do so, and, in earnings calls over the past… Investingread more


President Trump ordered US firms to ditch China, but many already…President Trump rattled Wall Street when he demanded U.S. firms move production out of China. But some have already taken steps to do so, and, in earnings calls over the past… Investingread more
National Weather Service corrects Trump on Hurricane Dorian: ‘Alabama will not see any impacts’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-01  Authors: robert ferris
Keywords: news, cnbc, companies, wall, weather, steps, impacts, corrects, china, rattled, national, firms, president, production, alabama, trump, hurricane, taken, service, street, dorian


National Weather Service corrects Trump on Hurricane Dorian: 'Alabama will not see any impacts'

President Trump ordered US firms to ditch China, but many already…

President Trump rattled Wall Street when he demanded U.S. firms move production out of China. But some have already taken steps to do so, and, in earnings calls over the past…

Investing

read more


Company: cnbc, Activity: cnbc, Date: 2019-09-01  Authors: robert ferris
Keywords: news, cnbc, companies, wall, weather, steps, impacts, corrects, china, rattled, national, firms, president, production, alabama, trump, hurricane, taken, service, street, dorian


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Exxon Mobil posts big quarterly profit beat as oil major hikes production

Exxon Mobil on Friday posted quarterly earnings that easily beat expectations and showed a small increase in fossil fuel production, reversing a trend of declining output. The stock price for the world’s largest publicly traded oil and gas company was up more than 3 percent at nearly $76 a share. Exxon earned a quarterly profit of $6 billion including the impacts of U.S. tax changes, down 28 percent from a year ago. Excluding tax impacts, the company earned $6.41 billion for the quarter, marking


Exxon Mobil on Friday posted quarterly earnings that easily beat expectations and showed a small increase in fossil fuel production, reversing a trend of declining output. The stock price for the world’s largest publicly traded oil and gas company was up more than 3 percent at nearly $76 a share. Exxon earned a quarterly profit of $6 billion including the impacts of U.S. tax changes, down 28 percent from a year ago. Excluding tax impacts, the company earned $6.41 billion for the quarter, marking
Exxon Mobil posts big quarterly profit beat as oil major hikes production Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: tom dichristopher, katie kramer, michael newberg
Keywords: news, cnbc, companies, tax, quarter, posts, production, big, mobil, gas, oil, quarterly, billion, share, increase, profit, impacts, hikes, major, exxon


Exxon Mobil posts big quarterly profit beat as oil major hikes production

Exxon Mobil on Friday posted quarterly earnings that easily beat expectations and showed a small increase in fossil fuel production, reversing a trend of declining output.

The stock price for the world’s largest publicly traded oil and gas company was up more than 3 percent at nearly $76 a share. Shares earlier jumped by about 4 percent.

Exxon earned a quarterly profit of $6 billion including the impacts of U.S. tax changes, down 28 percent from a year ago. That pencils out to earnings per share of $1.41, beating Refinitiv forecasts for $1.08 per share.

Excluding tax impacts, the company earned $6.41 billion for the quarter, marking a 72 percent increase from the same period a year ago.

Revenue came in at $71.89 billion, well below expectations for $77.28 billion from Refinitiv.

Exxon grew its total production of oil, natural gas and other hydrocarbons slightly, hitting 4 million barrels of oil equivalent in the quarter.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: tom dichristopher, katie kramer, michael newberg
Keywords: news, cnbc, companies, tax, quarter, posts, production, big, mobil, gas, oil, quarterly, billion, share, increase, profit, impacts, hikes, major, exxon


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How the Fed rate hike impacts you: Banks to adjust prime rates higher

With the Federal Reserve’s latest quarter-point interest rate increase (and still more likely to come), few consumers are left unscathed. The decision affects rates on all kinds of borrowing, from home mortgages to credit cards. That rate is closely tied to consumer debt, particularly credit cards, home equity lines of credit and other adjustable-rate loans. For the average American, recent signs of rising inflation, which pushed the central bank into hiking rates beginning in 2015, aren’t neces


With the Federal Reserve’s latest quarter-point interest rate increase (and still more likely to come), few consumers are left unscathed. The decision affects rates on all kinds of borrowing, from home mortgages to credit cards. That rate is closely tied to consumer debt, particularly credit cards, home equity lines of credit and other adjustable-rate loans. For the average American, recent signs of rising inflation, which pushed the central bank into hiking rates beginning in 2015, aren’t neces
How the Fed rate hike impacts you: Banks to adjust prime rates higher Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: jessica dickler
Keywords: news, cnbc, companies, investors, prime, credit, impacts, starting, federal, rising, pushed, hike, adjust, borrowing, rate, rates, fed, higher, savings, banks


How the Fed rate hike impacts you: Banks to adjust prime rates higher

With the Federal Reserve’s latest quarter-point interest rate increase (and still more likely to come), few consumers are left unscathed. The decision affects rates on all kinds of borrowing, from home mortgages to credit cards.

Despite pressure from President Donald Trump and members of his administration, the Fed made its ninth hike in three years and pushed the federal funds rate target to a new range of 2.25 to 2.5 percent (its highest level in a decade). That rate is closely tied to consumer debt, particularly credit cards, home equity lines of credit and other adjustable-rate loans.

“Borrowers are starting to feel it, savers are starting to benefit from it, and investors are getting queasy,” said Greg McBride, chief financial analyst at Bankrate.com.

For the average American, recent signs of rising inflation, which pushed the central bank into hiking rates beginning in 2015, aren’t necessarily bad. They’re generally considered an indication that the economy is doing well and pave the way for pay raises and a better return on your savings.

On the upside, stashing some cash in a savings account is finally paying off. In fact, a majority of investors say reaping the benefits of a higher yield on their savings is the best thing about rising rates, even as borrowing costs go up.


Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: jessica dickler
Keywords: news, cnbc, companies, investors, prime, credit, impacts, starting, federal, rising, pushed, hike, adjust, borrowing, rate, rates, fed, higher, savings, banks


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Climate change will cost economy hundreds of billions of dollars, government says in sweeping report

“Future risks from climate change depend primarily on decisions made today,” it said. Environmental groups said the report reinforced their calls for the United States to take action on climate change. “While President Trump continues to ignore the threat of climate change, his own administration is sounding the alarm,” said Abigail Dillen, president of environmental group Earthjustice. “This report underscores what we are already seeing firsthand: climate change is real, it’s happening here, an


“Future risks from climate change depend primarily on decisions made today,” it said. Environmental groups said the report reinforced their calls for the United States to take action on climate change. “While President Trump continues to ignore the threat of climate change, his own administration is sounding the alarm,” said Abigail Dillen, president of environmental group Earthjustice. “This report underscores what we are already seeing firsthand: climate change is real, it’s happening here, an
Climate change will cost economy hundreds of billions of dollars, government says in sweeping report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-23  Authors: joe raedle, getty images
Keywords: news, cnbc, companies, economy, report, hundreds, change, climate, trump, environmental, states, dollars, united, including, impacts, billions, sweeping, cost, president


Climate change will cost economy hundreds of billions of dollars, government says in sweeping report

We need to take climate change seriously, Richard Branson says 4:26 AM ET Tue, 9 Oct 2018 | 02:59

But the report said that if greenhouse gas emissions are sharply curbed, projections of further damage could change, even though many of the impacts of climate change – including more frequent and more powerful storms, droughts and flooding – are already under way. “Future risks from climate change depend primarily on decisions made today,” it said.

The report supplements a study issued last year that concluded humans are the main driver of global warming and warned of potentially catastrophic effects to the planet.

The studies clash with policy under President Donald Trump, who has been rolling back Obama-era environmental and climate protections to maximize production of domestic fossil fuels, including crude oil, already the highest in the world, above Saudi Arabia and Russia.

White House spokeswoman Lindsay Walters said the new report was “largely based on the most extreme scenario, which contradicts long-established trends by assuming that…there would be limited technology and innovation, and a rapidly expanding population.”

The government’s next update of the National Climate Assessment, she said, “gives us the opportunity to provide for a more transparent and data-driven process that includes fuller information on the range of potential scenarios and outcomes.”

Trump last year announced his intention to withdraw the United States from the 2015 Paris Deal agreed by nearly 200 nations to combat climate change, arguing the accord would hurt the U.S. economy and provide little tangible environmental benefit. Trump and several members of his cabinet have also repeatedly cast doubt on the science of climate change, arguing that the causes and impacts are not yet settled.

Environmental groups said the report reinforced their calls for the United States to take action on climate change.

“While President Trump continues to ignore the threat of climate change, his own administration is sounding the alarm,” said Abigail Dillen, president of environmental group Earthjustice. “This report underscores what we are already seeing firsthand: climate change is real, it’s happening here, and it’s happening now.”

Previous research, including from U.S. government scientists, has also concluded that climate change could have severe economic consequences, including damage to infrastructure, water supplies and agriculture.

Severe weather and other impacts also increase the risk of disease transmission, decrease air quality, and can increase mental health problems, among other effects.

Thirteen government departments and agencies, from the Agriculture Department to NASA, were part of the committee that compiled the new report.


Company: cnbc, Activity: cnbc, Date: 2018-11-23  Authors: joe raedle, getty images
Keywords: news, cnbc, companies, economy, report, hundreds, change, climate, trump, environmental, states, dollars, united, including, impacts, billions, sweeping, cost, president


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Pompeo’s canceled visit impacts inter-Korean liaison office plans, Seoul says

South Korea said on Monday the abrupt cancellation of United States Secretary of State Mike Pompeo’s trip to North Korea is having an “effect” on a controversial inter-Korean liaison office it planned to open by this month. South Korea’s presidential Blue House spokesman Kim Eui-kyeom said on Monday that the canceled visit “cannot be said to have zero effect” on the plan for the liaison office. “We were thinking of the opening of the liaison office as part of a smooth series of schedules includi


South Korea said on Monday the abrupt cancellation of United States Secretary of State Mike Pompeo’s trip to North Korea is having an “effect” on a controversial inter-Korean liaison office it planned to open by this month. South Korea’s presidential Blue House spokesman Kim Eui-kyeom said on Monday that the canceled visit “cannot be said to have zero effect” on the plan for the liaison office. “We were thinking of the opening of the liaison office as part of a smooth series of schedules includi
Pompeo’s canceled visit impacts inter-Korean liaison office plans, Seoul says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-27  Authors: saul loeb, afp, getty images
Keywords: news, cnbc, companies, visit, plans, canceled, korea, seoul, impacts, spokesman, koreas, office, kim, liaison, summit, pompeos, north, interkorean


Pompeo's canceled visit impacts inter-Korean liaison office plans, Seoul says

South Korea said on Monday the abrupt cancellation of United States Secretary of State Mike Pompeo’s trip to North Korea is having an “effect” on a controversial inter-Korean liaison office it planned to open by this month.

U.S. President Donald Trump abruptly canceled his top diplomat’s planned trip to North Korea on Friday, publicly acknowledging for the first time that his effort to get Pyongyang to denuclearize had stalled since his summit with the North’s leader.

South Korea’s presidential Blue House spokesman Kim Eui-kyeom said on Monday that the canceled visit “cannot be said to have zero effect” on the plan for the liaison office.

“We were thinking of the opening of the liaison office as part of a smooth series of schedules including Secretary of State Pompeo’s North Korea visit then the inter-Korean summit,” Kim said. “Now that a new situation has arisen, there is a need to inspect it again accordingly.”

South Korea has been building a liaison office just over the border in North Korea, as part of efforts championed by the South’s President Moon Jae-in to improve ties between the two Koreas.

The office, which the South Korean government said planned to open by August, had raised concern among opposition lawmakers, analysts and local media that the transfer of material for the office could violate U.N. and U.S. sanctions against North Korea.

South Korea’s Unification Ministry spokesman on Monday repeated its stance that all the material for the liaison office are for the office’s operation and the convenience of South Korean personnel, and does not give any economic gain to North Korea.

The spokesman added the two Koreas continue to discuss matters such as the timing of the office’s opening, after agreeing to open it “soon.”

“This issue is not something that our government can decide on its own, but must be discussed with the North,” said Kim, the Blue House spokesman. “I understand that there hasn’t been official discussion on how the North sees such situational changes, changes in conditions.”

North Korea’s state-controlled newspaper on Sunday accused the United States of “double-dealing” and “hatching a criminal plot” against Pyongyang, but did not mention Pompeo’s canceled visit.

Since the June summit, the two sides have struggled to narrow differences over the North’s nuclear weapons programme. Pyongyang has been calling for a declaration of peace as part of security guarantees designed to encourage it to abandon its nuclear weapons and ballistic missiles, while the Trump administration says a peace deal and other concessions will only come after more progress on denuclearization.

The inter-Korean summit slated for September remains on track, and President Moon’s role as mediator between the U.S. and North Korea appears to have expanded after the canceled visit, Blue House’s Kim told reporters on Sunday.


Company: cnbc, Activity: cnbc, Date: 2018-08-27  Authors: saul loeb, afp, getty images
Keywords: news, cnbc, companies, visit, plans, canceled, korea, seoul, impacts, spokesman, koreas, office, kim, liaison, summit, pompeos, north, interkorean


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