Trump is now blacklisting several big Chinese companies — here’s what they do and why they are important

The move has already hit suppliers to the companies named, and roiled markets Tuesday on fears of wavering trade talks. Together, the companies show clearly the direction Commerce will continue to take with its blacklist. Namely, it’s looking at Chinese companies that are already global, that provide tech infrastructure that is hard to replace once it’s been acquired, and that could feasibly be used to bolster China’s intelligence and military organizations. Blacklisting these companies should p


The move has already hit suppliers to the companies named, and roiled markets Tuesday on fears of wavering trade talks. Together, the companies show clearly the direction Commerce will continue to take with its blacklist. Namely, it’s looking at Chinese companies that are already global, that provide tech infrastructure that is hard to replace once it’s been acquired, and that could feasibly be used to bolster China’s intelligence and military organizations. Blacklisting these companies should p
Trump is now blacklisting several big Chinese companies — here’s what they do and why they are important Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: kate fazzini
Keywords: news, cnbc, companies, important, companies, provide, tianjin, create, blacklist, big, trump, commerce, blacklisting, trade, chinese, infrastructure, heres, intelligence


Trump is now blacklisting several big Chinese companies — here's what they do and why they are important

Chairman of Hangzhou Hiklp Electronics Co., Ltd. Chen Zongnian delivers a speech during the 2nd World Intelligence Congress (WIC 2018) at Tianjin Meijiang Convention and Exhibition Center on May 16, 2018 in Tianjin, China.

The Department of Commerce added 28 new companies and agencies to its running “blacklist” of Chinese firms banned from doing business in the United States, with a notable focus on companies that specialize in artificial intelligence, machine learning and digital surveillance.

The move has already hit suppliers to the companies named, and roiled markets Tuesday on fears of wavering trade talks.

Together, the companies show clearly the direction Commerce will continue to take with its blacklist. Namely, it’s looking at Chinese companies that are already global, that provide tech infrastructure that is hard to replace once it’s been acquired, and that could feasibly be used to bolster China’s intelligence and military organizations.

Blacklisting these companies should please some in the intelligence community who have long argued that allowing Chinese companies to provide technological infrastructure to the U.S. would undercut the ability of the U.S. to defend itself. But it will also create divides with commerce organizations focused on free trade, and will likely create further disruptions in the ongoing trade negotiations between the Trump administration and Chinese president Xi Jinping.


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: kate fazzini
Keywords: news, cnbc, companies, important, companies, provide, tianjin, create, blacklist, big, trump, commerce, blacklisting, trade, chinese, infrastructure, heres, intelligence


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Trump’s recession toolkit could include tax cuts and infrastructure spending – if Congress allows it

Congress passed the income tax cuts in the Tax Reduction Act in March 1975, although Democrats forced the president into agreeing to an expansion of select government programs. Those piecemeal tax cuts reduced the highest personal income tax rate from 70% to 38.5%, cut the lowest rate from 14% to 11% and increased the highest capital gains tax rate from 20% to 28%. Real GDP fell $650 billion, the unemployment rate peaked at 10% and household net worth fell $11.5 trillion. But in addition to larg


Congress passed the income tax cuts in the Tax Reduction Act in March 1975, although Democrats forced the president into agreeing to an expansion of select government programs. Those piecemeal tax cuts reduced the highest personal income tax rate from 70% to 38.5%, cut the lowest rate from 14% to 11% and increased the highest capital gains tax rate from 20% to 28%. Real GDP fell $650 billion, the unemployment rate peaked at 10% and household net worth fell $11.5 trillion. But in addition to larg
Trump’s recession toolkit could include tax cuts and infrastructure spending – if Congress allows it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-07  Authors: thomas franck
Keywords: news, cnbc, companies, congress, include, toolkit, recession, infrastructure, trump, spending, trumps, allows, tax, sheets, unemployment, president, income, rate, cuts, inflation, policy


Trump's recession toolkit could include tax cuts and infrastructure spending – if Congress allows it

President Donald Trump speaks at a fundraiser in Des Moines, Iowa, June 11, 2019. Kevin Lamarque | Reuters

Wall Street can’t stop talking about recession fears. The U.S. and China are locked in a trade standoff, corporate earnings growth expectations are at multiyear lows, and the shape of the yield curve has data-focused investors feeling queasy. Bank of America told its clients last month that it sees a 1-in-3 chance of a recession over the next 12 months. Any such downturn would pose a problem for President Donald Trump, who has made the otherwise strong economy his central argument for reelection next year. Unemployment rates are low and major market indexes have surged: The Dow Jones Industrial Average, for instance, is up more than 30% since Trump took office. But as signs of economic deceleration mount — and the effects of the Trump administration’s deregulatory agenda and the 2017 GOP tax cut law fade — the president may want to refer to the actions of prior administrations in the modern era as a guide to navigating a tougher economy.

The worst of times

There have been 11 official recessions and 13 presidents since the end of World War II, with each downturn presenting households and investors with a unique set of headaches. Here are some examples. 1973–75 The recessions of the 1970s tended to center around a systemic and protracted spike in inflation as well as an uptick in unemployment. The 1973 oil crisis, in which OPEC declared an oil embargo and sent crude prices soaring, helped trigger the 16-month contraction that started during President Richard Nixon’s second term. It bled into President Gerald Ford’s tenure, which began when Nixon resigned in disgrace in 1974 due to the Watergate scandal. Consumer price growth hit double digits, the unemployment rose peaked at 9%, and real GDP growth declined from a robust 10.3% in the first quarter of 1973 to -4.8% just two years later. Ford, who at first encouraged a tax increase to help quell inflation, was later forced to change his tune and call for a $16 billion rebate of personal and corporation income taxes to help jump-start the economy. Congress passed the income tax cuts in the Tax Reduction Act in March 1975, although Democrats forced the president into agreeing to an expansion of select government programs. Ford lost the 1976 presidential election to Democrat Jimmy Carter. 1981-82 The deep recession that occurred in President Ronald Reagan’s first term is thought to be the result of strict disinflationary policies adopted by then-Federal Reserve Chairman Paul Volcker. Inflation had more than doubled following the 1973 oil shock. It plagued the Carter administration, reaching a lofty 11.3% in 1979 and 13.5% in 1980. In order to break inflation, Volcker and other Fed officials hiked short-term interest rates to 20% by 1981, drawing historic levels of criticism for their impact on construction, farming and other industrial sectors. The robust recovery that followed, however, remains a source of debate among economists, with many giving credit to the stimulative impact of the Reagan-era tax cuts. Those piecemeal tax cuts reduced the highest personal income tax rate from 70% to 38.5%, cut the lowest rate from 14% to 11% and increased the highest capital gains tax rate from 20% to 28%.

The Great Recession of 2007–09 A more recent example of White House action during times of economic turmoil came about 10 years ago, when the subprime mortgage crisis fueled a broader collapse in the nation’s largest banks and dragged the globe into what many economists consider the worst economic downturn since the Great Depression of the 1930s. Real GDP fell $650 billion, the unemployment rate peaked at 10% and household net worth fell $11.5 trillion. A combination of legislation crafted under outgoing President George W. Bush and Barack Obama, who was elected in 2008, included massive stimulus initiatives such as the American Recovery and Reinvestment Act and the Troubled Asset Relief Program.

The toolkit

Advocacy for such bills is just an example of how few tools are available to the White House during economic duress, Nathan Sheets, chief economist at PGIM Fixed Income, said in an email. “Most of the options are broadly ‘fiscal policy,’ and result in larger government budget deficits, but there are lots of different flavors,” Sheets wrote. But relying on collaboration with Congress could prove tricky for Trump, especially with 23 Republicans in the GOP-controlled Senate and all of the House up for reelection in 2020. If Democrats win both chambers but fail to claim the White House, the likelihood of any major policy breakthroughs could prove a tougher goal. “During the financial crisis, the government provided incentives for investment and sought to support the housing market,” Sheets continued. “In addition, the government provided a major bailout for the auto sector, as well as the never-to-be-forgotten ‘Cash for Clunkers’ program. All of these are examples of activist fiscal policy at work.” The economist added that direct increased expenditure, such as a new infrastructure program, would also work to boost GDP. To be sure, the cause of, and remedy for, any individual recession are out of the hands of any single policymaker and more often a function of cyclical market trends. But in addition to large spending bills, presidents can push for temporary or permanent tax cuts, as Reagan did in the 1980s. “All of this is in addition increased spending on various ‘automatic stabilizers’ such as unemployment payments,” Sheets added. “During the financial crisis, an important part of discretionary fiscal policy was a decision to extend the duration of unemployment payments. I’d guess that this would be done again.”


Company: cnbc, Activity: cnbc, Date: 2019-09-07  Authors: thomas franck
Keywords: news, cnbc, companies, congress, include, toolkit, recession, infrastructure, trump, spending, trumps, allows, tax, sheets, unemployment, president, income, rate, cuts, inflation, policy


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This is the most liveable city in America

Honolulu, Hawaii, has been ranked the most liveable city in the U.S., according to The Economist Intelligence Unit’s (EIU) Global Liveability Index for 2019. Though no U.S. city ranked in the index’s top 20, Honolulu ranked highest at No. 22 out of 140 ranked cities around the world. Ranking one spot higher than last year, it is the only U.S. city to make the top 25 list. Don’t miss: These are the world’s most liveable cities in 2019


Honolulu, Hawaii, has been ranked the most liveable city in the U.S., according to The Economist Intelligence Unit’s (EIU) Global Liveability Index for 2019. Though no U.S. city ranked in the index’s top 20, Honolulu ranked highest at No. 22 out of 140 ranked cities around the world. Ranking one spot higher than last year, it is the only U.S. city to make the top 25 list. Don’t miss: These are the world’s most liveable cities in 2019
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Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: taylor locke
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This is the most liveable city in America

Honolulu, Hawaii, has been ranked the most liveable city in the U.S., according to The Economist Intelligence Unit’s (EIU) Global Liveability Index for 2019. Though no U.S. city ranked in the index’s top 20, Honolulu ranked highest at No. 22 out of 140 ranked cities around the world. Ranking one spot higher than last year, it is the only U.S. city to make the top 25 list.

Honolulu, Hawaii Naomi Hayes of Island Memories Photography | Getty Images

The EIU examines the quality of health care, education, infrastructure, stability and culture when assessing living conditions of each city. More than 30 factors are taken into account when calculating each rank, which are then compiled into a weighted score between one and 100. The Hawaiian capital scored 95.0 in stability, 91.7 in health care, 88.0 in culture and environment, 100.0 in education and 100.0 in infrastructure. Its overall rating is 94.1. That said, living in Hawaii comes at a high price. The cost of living in Hawaii is actually the highest of all the U.S. states, according to the Missouri Economic Research and Information Center. Honolulu ranks as the most expensive area to live in within Hawaii, in a list of America’s most expensive states by CNBC.

Trekandshoot | Getty Images

Among the U.S. cities on the EIU list, Atlanta ranked 33rd, followed by Pittsburgh at 34th, Seattle at 36th and Washington, D.C., at 40th. The first four received a rating of 100.0 for education. “In general, the ratings of many U.S. cities fell behind their world rivals for a number of shared reasons,” Steven Leslie, EIU analyst, told CNBC Make It. Those reasons included “higher crime rates, including a mix of petty crimes and more serious violence like mass shootings, weakness in infrastructure and shortfalls in public health care.” However, Leslie said it was important to put the weakness of the U.S. in context, noting that all American cities on the list are in the top half of the ranking. The top five most liveable cities in the U.S., and their score according to The Global Liveability Index 2019, are: Honolulu (94.1) Atlanta (92.3) Pittsburgh (92.1) Seattle (91.6) Washington, D.C. (91.2) Like this story? Subscribe to CNBC Make It on YouTube! Don’t miss: These are the world’s most liveable cities in 2019


Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: taylor locke
Keywords: news, cnbc, companies, ranked, liveable, honolulu, list, america, eiu, living, hawaii, infrastructure, cities, city


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Here’s where the top Democratic 2020 candidates stand on climate change

Scott Olson | Getty ImagesTen Democratic presidential candidates are set to participate Wednesday night in a “Climate Crisis” town hall hosted by CNN. Jay Inslee’s playbook and tacked on an additional $1 trillion investment over 10 years focusing on the transition to 100% renewable energy, green infrastructure and zero-emission vehicles. Klobuchar’s policy also includes a $1 trillion infrastructure package to retrofit buildings to make them energy-efficient, build climate resilience and make new


Scott Olson | Getty ImagesTen Democratic presidential candidates are set to participate Wednesday night in a “Climate Crisis” town hall hosted by CNN. Jay Inslee’s playbook and tacked on an additional $1 trillion investment over 10 years focusing on the transition to 100% renewable energy, green infrastructure and zero-emission vehicles. Klobuchar’s policy also includes a $1 trillion infrastructure package to retrofit buildings to make them energy-efficient, build climate resilience and make new
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Here's where the top Democratic 2020 candidates stand on climate change

Democratic presidential candidates Marianne Williamson, (L-R), Rep. Tim Ryan (D-OH), Sen. Amy Klobuchar (D-MN), Indiana Mayor Pete Buttigieg, Sen. Bernie Sanders (I-VT), Sen. Elizabeth Warren (D-MA), former Texas congressman Beto O’Rourke, former Colorado governor John Hickenlooper, former Maryland congressman John Delaney, and Montana Gov. Steve Bullock take the stage at the beginning of the Democratic Presidential Debate at the Fox Theatre July 30, 2019 in Detroit, Michigan. Scott Olson | Getty Images

Ten Democratic presidential candidates are set to participate Wednesday night in a “Climate Crisis” town hall hosted by CNN. Climate change has escalated into one of the most important issues for Democratic voters, so before each candidate takes the stage, here’s the rundown on where each stands on addressing climate change:

Joe Biden

The former vice president, who leads the field in polling averages, put forth a substantial 10-year investment of $1.7 trillion, $400 billion of which will be dedicated to “clean energy research and innovation.” Biden’s plan calls for a mix of state, local and private sector investments totaling $5 trillion, relying less on federal investments to spur a shift in energy consumption. Biden’s proposal also relies on controversial “carbon-capture” technology, as well as investments in nuclear energy.

Bernie Sanders

The Vermont senator proposed his own “Green New Deal” calling for a $16.3 trillion federal investment over 15 years in renewable energy and public infrastructure. It is by far the largest proposal by any of the candidates in the field and plans to create 20 million new jobs by building a 100% renewable transportation and electric grid by 2030. It also calls for “complete decarbonization” of the energy sector by 2050, and ending federal investment and subsidies for the fossil fuel industry entirely.

Elizabeth Warren

The Massachusetts senator proposed a $2 trillion green manufacturing plan in June, comprised of a “National Institutes of Clean Energy” to manage a $400 billion “Green Apollo Program;” a $1.5 trillion “Green Industrial Mobilization” of American-made renewable energy products; and a $100 billion “Green Marshall Plan” to encourage foreign investment in American renewable products. Since then she’s taken a page out of Washington Gov. Jay Inslee’s playbook and tacked on an additional $1 trillion investment over 10 years focusing on the transition to 100% renewable energy, green infrastructure and zero-emission vehicles. Inslee dropped out of the presidential race last month.

Julian Castro

Castro, former Housing and Urban Development secretary and mayor of San Antonio, proposed $10 trillion in federal, state, local, and private investments over 10 years with the goal of creating 10 million new jobs. Castro set a net-zero emissions goal of 2045, and partially plans to achieve it by totally ending fossil fuel subsidies. He plans to create a $200 billion Green Infrastructure Fund to manage water systems, energy grids, public transit infrastructure and electric vehicle charging stations. Castro also plans to strengthen the National Flood Insurance Program and institute a comprehensive update of America’s flood maps, plant 30 billion trees by 2050, and create a “Green Opportunity Corps” in the vein of the Civilian Conservation Corps.

Andrew Yang

Businessman Yang has proposed a climate policy of $4.87 trillion over 20 years centered around his “Democracy Dollars” program, a $400 billion fund which gives American voters $100 annually to donate to the candidate or party of their choice. Yang hopes the direct democracy in the process will wash out the influence of fossil fuel companies. Additionally, Yang proposes an entirely net-zero economy by 2040 and a radical carbon fee of $40/ton, which would increase every year until fossil fuel companies hit net-zero goals in transit, energy, and infrastructure.

Kamala Harris

The California senator has pledged $10 trillion in public and private investment over 10 years to transition to clean energy. She plans to reach a goal 100% of carbon-neutral electricity by 2030 and a 100% clean economy by 2045. Harris’ Climate Equity Act, which she proposed with Green New Deal sponsor Rep. Alexandria Ocasio-Cortez, requires each new piece of climate-related legislation to be scored for its benefits to underserved and minority communities. Harris also proposed a progressively increasing carbon pollution fee, to be overseen and enforced by the EPA’s Office of Enforcement and Compliance Assurance as well as ending fossil fuel subsidies entirely.

Amy Klobuchar

The Minnesota senator’s plan emphasizes executive action when it comes to combating climate change. In her first 100 days, she plans to restore the Clean Power Plan, reenroll the country in the Paris Climate Agreement and strengthen the Clear Air Act. Her policy also focuses on improving broadband access in underserved communities in rural America. Klobuchar’s policy also includes a $1 trillion infrastructure package to retrofit buildings to make them energy-efficient, build climate resilience and make new buildings climate-friendly. Klobuchar also aims to distribute clean energy bonds which could raise up to $50 billion and create over 1 million jobs.

Pete Buttigieg

The South Bend, Indiana, mayor on Wednesday unveiled a climate change plan that would include more than $1 trillion in federal investment, with a goal of reaching net-zero emissions by 2050 and creating over 3 million clean energy and infrastructure jobs in the next decade. The proposal includes a $200 billion investment over 10 years in clean energy research and development, the creation of a $250 billion Clean Energy Bank to finance innovative technologies, a $250 billion fund matched with $250 billion in private investment with American companies to lead development of green technologies and a $50 billion seed fund for riskier and experimental ideas. Additionally, it calls for the creation of a “U.S. Climate Corps” open to high school graduates dedicated to educating communities and rebuilding infrastructure to make it more resilient to the effects of climate change.

Beto O’Rourke

The former Texas congressman and failed U.S. Senate candidate released a $5 trillion plan in late April with a net-zero emissions goal of 2050. It posits instituting ” a legally enforceable standard” with Congress but it is unclear as of now whether that means a carbon tax, cap-and-trade system or something else entirely. O’Rourke plans to leverage $500 billion in annual government funds to decarbonize and create a “buy clean” program for steel, glass, and cement. Additionally, his plan allocates more than $1.2 trillion in housing, transportation, public transit and small business grants to revamp the nation’s economic infrastructure.

Cory Booker


Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: jordan mcdonald
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Asia stocks mixed as new US-China tariffs go into effect

Stocks in Asia were mixed on Monday as the latest round of U.S. and China tariffs kicked into effect over the weekend, while investors digested better-than-expected Chinese manufacturing data. Mainland Chinese shares jumped on the day, as the Shanghai composite added 1.31% to around 2,924.11 and the Shenzhen component was up 2.18% to 9,569.47. Over in Hong Kong, however, the Hang Seng index slipped 0.64%, as of its final hour of trading. Elsewhere, the Nikkei 225 in Japan shed 0.41% to close at


Stocks in Asia were mixed on Monday as the latest round of U.S. and China tariffs kicked into effect over the weekend, while investors digested better-than-expected Chinese manufacturing data. Mainland Chinese shares jumped on the day, as the Shanghai composite added 1.31% to around 2,924.11 and the Shenzhen component was up 2.18% to 9,569.47. Over in Hong Kong, however, the Hang Seng index slipped 0.64%, as of its final hour of trading. Elsewhere, the Nikkei 225 in Japan shed 0.41% to close at
Asia stocks mixed as new US-China tariffs go into effect Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: eustance huang
Keywords: news, cnbc, companies, trading, stocks, tariffs, uschina, effect, round, weekend, asia, statement, day, slipped, index, shenzhen, shares, mixed, infrastructure


Asia stocks mixed as new US-China tariffs go into effect

Stocks in Asia were mixed on Monday as the latest round of U.S. and China tariffs kicked into effect over the weekend, while investors digested better-than-expected Chinese manufacturing data.

Mainland Chinese shares jumped on the day, as the Shanghai composite added 1.31% to around 2,924.11 and the Shenzhen component was up 2.18% to 9,569.47. The Shenzhen composite also gained 2.259% to approximately 1,614.92.

The technology sector also got a boost from a Sunday statement about the importance of investing in the high-tech space, as the Chinext index soared 3.04% to about 1,944.42.

China’s State Council had announced more measures to support its economy on Sunday. In the statement, originally posted in Mandarin, it said that it attached “great importance” to the development of sectors such as infrastructure, high-tech, and the transformation of traditional industries.

Over in Hong Kong, however, the Hang Seng index slipped 0.64%, as of its final hour of trading. Tensions worsened in the beleaguered city, with another round of fresh protests that occurred over the weekend. Shares of railway operator MTR plunged more than 3%, with infrastructure at multiple stations being damaged in the past few days.

Elsewhere, the Nikkei 225 in Japan shed 0.41% to close at 20,620.19, while the Topix index also fell 0.44% to finish its trading day at 1,505.21. Over in South Korea, the Kospi ended its trading day in Seoul fractionally higher at 1,969.19. Australia’s S&P/ASX 200 slipped 0.38% to close at 6,579.40.

Overall, the MSCI Asia ex-Japan index fell 0.32%.


Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: eustance huang
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Texas ransomware attacks show big gaps in cyber defenses — expect more like them

The ransomware attacks against more than 20 Texas towns this week are significant. That’s because local governments commonly share single service providers, making many vulnerable at once. Two Texas municipalities caught up in the recent spate of ransomware have now confirmed that an unnamed managed service provider was exploited. “Ransomware is a threat that basically everyone is facing,” Simonds said, including local governments and counties, large cities and utility providers. Two of the larg


The ransomware attacks against more than 20 Texas towns this week are significant. That’s because local governments commonly share single service providers, making many vulnerable at once. Two Texas municipalities caught up in the recent spate of ransomware have now confirmed that an unnamed managed service provider was exploited. “Ransomware is a threat that basically everyone is facing,” Simonds said, including local governments and counties, large cities and utility providers. Two of the larg
Texas ransomware attacks show big gaps in cyber defenses — expect more like them Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: kate fazzini
Keywords: news, cnbc, companies, attacks, defenses, ransomware, expect, systems, providers, texas, cities, gaps, service, local, towns, big, infrastructure, cyber


Texas ransomware attacks show big gaps in cyber defenses — expect more like them

The ransomware attacks against more than 20 Texas towns this week are significant. Though little is known about the origins of the attacks, the spread of ransomware across small-town America has exposed a deep problem in how the country approaches cybersecurity. That’s because local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious activity by nation-states, and there are clear indications this will happen again in the future. Ransomware, which is malicious software that spreads across networks and shuts down computers until a ransom is paid, can have a significant impact on the technology that runs local services, including water, power, wastewater treatment and emergency services.

Shared service providers, small towns

Small towns can’t afford significant information technology departments, so they frequently outsource those services to managed service providers, who in turn use the same software and same applications for all of the governments they serve, explains Chris Morales, head of security analytics for Vectra AI, a cyberthreat detection company. That ubiquity makes them vulnerable to one big attack and provides a big target to criminal hackers who want to increase their odds by hitting as many at once as possible, he said. Two Texas municipalities caught up in the recent spate of ransomware have now confirmed that an unnamed managed service provider was exploited. There is no quick, easy solution to this problem, said Morales. “They work off a tax budget,” Morales said. “Can you imagine telling taxpayers you are spending millions on cybersecurity when there are potholes in the roads?” In addition, small towns aren’t subject to wider initiatives to secure government infrastructure, such as the relatively recent designation of elections infrastructure as critical. Indeed, smaller towns and cities are “largely under-funded, and live on what we call the ‘edge of existence’ in terms of cyber,” said George Simonds, president of cybersecurity company InfraShield and founder of the International Critical Infrastructure Security Institute. “Ransomware is a threat that basically everyone is facing,” Simonds said, including local governments and counties, large cities and utility providers. Simonds agreed that there is no quick budgetary fix for the problem.

Ransomware as a cover story

This long-term, widespread budgetary issue is a problem, because while criminals may be exploiting cities in this latest round of attacks, hostile nation-states often use attacks like these as a convenient cover for more insidious activity. Two of the largest-ever single-incident ransomware attacks, known as WannaCry and NotPetya, took place in 2017. The attacks shut down health-care services by Britain’s NHS, hobbled the logistics operations of shipping giant AP Moeller-Maersk and stymied the production of the HPV vaccine by drugmaker Merck, among a slew of other case studies. But the attacks weren’t “ransomware” in the traditional sense. These attacks netted a relatively paltry profit for the instigators and are largely believed to have served as a way to spread chaos rather than obtain funds. WannaCry was ultimately attributed by the U.S. government to North Korea and NotPetya to the Russian military. The Texas attacks have not yet been attributed to any group, and investigating the origin of the attackers is taking a backseat — as it usually does — to containing the situation, according to the state’s Department of Information Resources. But if city systems are susceptible to this kind of damage, even if from simple criminals, they would be just as susceptible to an attack from other hostile forces. The DIR originally said 23 towns had been affected, then it lowered the number to 22 without explanation.

A worrisome connection to services

For years, government pundits have warned that nation-state attackers, whether from Iran, Russia or China, could directly take down one of the country’s critical industries, often through supposedly highly sophisticated processes and long-term hacks. But the ransomware incidents of 2017 and the relative ease ransomware criminals have had in attacking U.S. cities — including major hubs such as Baltimore, Atlanta, San Francisco and Albany — show the vulnerability of local government infrastructure is plenty worrisome. “The fact that we are seeing an acceleration of attacks that are reportedly successful tells me that we have not prepared,” said Eddie Habibi, CEO of industrial systems security company PAS Global. While many industrial systems are administered on unique systems that “require greater sophistication,” Habibi explained, “some of these [ransomware] attacks are made on the Windows operating system that is used to run the utilities that run power plants or water utilities. Consequences of attacks on the industrial sector can be a lot more serious than on data,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: kate fazzini
Keywords: news, cnbc, companies, attacks, defenses, ransomware, expect, systems, providers, texas, cities, gaps, service, local, towns, big, infrastructure, cyber


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2020 candidate Kirsten Gillibrand, Rep. Bass say their infrastructure bill will boost local jobs, rebuild communities

Senator Kirsten Gillibrand speaks on the second night of the second 2020 Democratic U.S. presidential debate in Detroit, Michigan, July 31, 2019. America’s infrastructure is falling apart – but you don’t need a senator and a member of Congress to tell you that. Second, when we start rebuilding a community, we need to make sure those new jobs are actually going to the people living there. It turns out that even our infrastructure policies fall into that category. They blocked workers from new opp


Senator Kirsten Gillibrand speaks on the second night of the second 2020 Democratic U.S. presidential debate in Detroit, Michigan, July 31, 2019. America’s infrastructure is falling apart – but you don’t need a senator and a member of Congress to tell you that. Second, when we start rebuilding a community, we need to make sure those new jobs are actually going to the people living there. It turns out that even our infrastructure policies fall into that category. They blocked workers from new opp
2020 candidate Kirsten Gillibrand, Rep. Bass say their infrastructure bill will boost local jobs, rebuild communities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: senator kirsten gillibrand, d-ny, us rep karen bass, d-ca
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2020 candidate Kirsten Gillibrand, Rep. Bass say their infrastructure bill will boost local jobs, rebuild communities

Senator Kirsten Gillibrand speaks on the second night of the second 2020 Democratic U.S. presidential debate in Detroit, Michigan, July 31, 2019.

America’s infrastructure is falling apart – but you don’t need a senator and a member of Congress to tell you that.

If you’ve driven around or done some traveling lately, you probably had the exact same thought that we hear from our constituents all the time: our highways, bridges, airports, and public transportation are just not working right.

The same goes for our contaminated water supplies, our patchwork access to high-speed internet, and our crumbling schools.

We have to fix all of it – and here’s how:

First, we need to get building, and finally clean up the state of disrepair that much of our infrastructure is in now.

Second, when we start rebuilding a community, we need to make sure those new jobs are actually going to the people living there.

And third, when that new project goes up, we need to make sure it’s bringing the community together – not tearing it apart.

We’re in an extraordinary moment right now in which Americans are demanding that we correct the injustices of the last century – especially government policies that hurt poor communities and communities of color. It turns out that even our infrastructure policies fall into that category.

Here’s a glaring example: Highways. Highways are supposed to connect people. They’re supposed to make it easier for neighbors to come together, for kids to get to school, for workers to get to their jobs. But that’s not what happened when our country built them.

Instead, highways like I-81 in Syracuse, freeways like the 10 in Los Angeles, and so many more in between divide cities and neighborhoods in half. They closed local businesses. They blocked workers from new opportunities and better jobs, and the comfortable life that follows.

Because of those bad policies, in cities all over the country today, you see the same disturbing pattern: green spaces, grocery stores, and good jobs on one side of the overpass, and none of them on the other.


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: senator kirsten gillibrand, d-ny, us rep karen bass, d-ca
Keywords: news, cnbc, companies, infrastructure, say, gillibrand, need, communities, senator, candidate, kirsten, sure, highways, supposed, rep, workers, rebuild, local, jobs, second, policies


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Defense Secretary is reviewing $10 billion Pentagon cloud contract after Trump says it unfairly favored Amazon

Newly appointed U.S. Secretary of Defense Mark Esper is reviewing a controversial multi-year cloud-computing contract, a spokesperson said. The Joint Enterprise Defense Infrastructure deal, which could be worth up to $10 billion for services rendered over as many as 10 years, could go to either Amazon or Microsoft. The JEDI deal could cement them even more as being ready for the most formidable computing workloads. “Keeping his promise to Members of Congress and the American public, Secretary Es


Newly appointed U.S. Secretary of Defense Mark Esper is reviewing a controversial multi-year cloud-computing contract, a spokesperson said. The Joint Enterprise Defense Infrastructure deal, which could be worth up to $10 billion for services rendered over as many as 10 years, could go to either Amazon or Microsoft. The JEDI deal could cement them even more as being ready for the most formidable computing workloads. “Keeping his promise to Members of Congress and the American public, Secretary Es
Defense Secretary is reviewing $10 billion Pentagon cloud contract after Trump says it unfairly favored Amazon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: jordan novet
Keywords: news, cnbc, companies, jedi, favored, companies, contract, infrastructure, cloud, trump, esper, program, defense, unfairly, secretary, pentagon, deal, reviewing, billion


Defense Secretary is reviewing $10 billion Pentagon cloud contract after Trump says it unfairly favored Amazon

Newly appointed U.S. Secretary of Defense Mark Esper is reviewing a controversial multi-year cloud-computing contract, a spokesperson said.

The Joint Enterprise Defense Infrastructure deal, which could be worth up to $10 billion for services rendered over as many as 10 years, could go to either Amazon or Microsoft. Those two companies are the top players in the market for cloud infrastructure that companies and governments can use to host applications and store data. The JEDI deal could cement them even more as being ready for the most formidable computing workloads.

“Secretary Esper is committed to ensuring our warfighters have the best capabilities, including Artificial Intelligence, to remain the most lethal force in the world, while safeguarding taxpayer dollars, Defense spokeswoman Elissa Smith told CNBC on Thursday. “Keeping his promise to Members of Congress and the American public, Secretary Esper is looking at the Joint Enterprise Defense Infrastructure (JEDI) program. No decision will be made on the program until he has completed his examination.”

The Pentagon had said before that an award could come as soon as August.

The announcement comes after President Trump said last month that he had received complaints from companies about the process. Trump said companies conveyed that the specifications of the contract favored Amazon, according to Bloomberg. IBM and Oracle have been out of the running for the contract for months.

Secretary Esper was sworn in last month, replacing for Jim Mattis. In a meeting with reporters last week he said the JEDI deal is something he wanted to take a “hard look at.”

— CNBC’s Amanda Macias and Ryan Ruggiero contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: jordan novet
Keywords: news, cnbc, companies, jedi, favored, companies, contract, infrastructure, cloud, trump, esper, program, defense, unfairly, secretary, pentagon, deal, reviewing, billion


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Flight delays and railway fires: Scorching heatwave tests Europe’s infrastructure

On Friday, morning train commuters faced disruption after the extreme heat wreaked havoc on the rail network and airports. Widespread delays also continued at Heathrow and Gatwick, the two U.K. biggest airports, leaving passengers stranded. Climate change makes this extreme heat so much more likely. This is something that virtually couldn’t happen if not for climate change,” Karsten Haustein, a climate scientist at the University of Oxford, told CNBC. High temperatures cause steel tracks to expa


On Friday, morning train commuters faced disruption after the extreme heat wreaked havoc on the rail network and airports. Widespread delays also continued at Heathrow and Gatwick, the two U.K. biggest airports, leaving passengers stranded. Climate change makes this extreme heat so much more likely. This is something that virtually couldn’t happen if not for climate change,” Karsten Haustein, a climate scientist at the University of Oxford, told CNBC. High temperatures cause steel tracks to expa
Flight delays and railway fires: Scorching heatwave tests Europe’s infrastructure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: emma newburger
Keywords: news, cnbc, companies, delays, rail, network, europes, train, railway, fires, extreme, heat, flight, tests, europe, temperatures, change, heatwave, infrastructure, climate, uk, scorching


Flight delays and railway fires: Scorching heatwave tests Europe's infrastructure

People resting in Terminal 5 at Heathrow airport, July 26, 2019, as the UK’s biggest airport has apologized after extreme weather conditions across Europe caused flight cancellations and delays. Steve Parsons | PA Images | Getty Images

As a historic heatwave scorched Western Europe this week, setting record high temperatures at well over 100 degrees in places like France, Belgium and Germany, people and infrastructure alike struggled to keep up. On Friday, morning train commuters faced disruption after the extreme heat wreaked havoc on the rail network and airports. Widespread delays also continued at Heathrow and Gatwick, the two U.K. biggest airports, leaving passengers stranded. “It’s intense. Climate change makes this extreme heat so much more likely. This is something that virtually couldn’t happen if not for climate change,” Karsten Haustein, a climate scientist at the University of Oxford, told CNBC. Engineers this week struggled to repair damaged rail lines as networks slowed down trains. High temperatures cause steel tracks to expand and buckle under stress, according to the U.K.’s Network Rail, leading to widespread delays.

In Austria, the national railway service painted parts of the train tracks white to lower the temperatures and limit structural damages caused from bending, with similar efforts occurring in Switzerland and Germany. Some rail commuters in London became stuck Thursday night when wires on the network were damaged from the heat. High-speed rail services between Paris and London also halted Friday after a power cable failure at the Gare du Nord station in the French capital. Across Europe, sweltering commuters took to Twitter to complain of being stranded on stopped train services with no air conditioning. In one instance, 600 passengers were evacuated off a train line in London after a damaged overhead train line sparked a grass fire on the railway bank, according to local reports. “The traffic for commuters is bad, the railway network infrastructure is bad, they are slowing the trains down, interrupting the entire network and leading to complete failure of certain connections,” Haustein said. Air conditioning in Europe is also scarce, exacerbating the misery among travelers and people at home. Europe accounts for only 6% of the global share of air conditioners, compared with the U.S. at 23%, according to a 2018 report by the International Energy Agency. “The air conditioning on the trains doesn’t work, and you can’t open the windows. Air-conditioning isn’t a thing here in general, which means people are suffering even more,” Haustein said. Climate researchers warn that an extreme heat wave like this one will only become more frequent, and that infrastructure like roads, housing and railroads must change to withstand upcoming challenges posed by extreme weather. Last year, for example, high temperatures in Britain caused disruptions to a network rail that cost £40 million ($50 million) for operators, Alastair Chisholm, director of policy at the Chartered Institution of Water & Environmental Management, told NBC News.

Climate change is a key driver of extreme heat

The hottest summers in Europe in the past 500 years have all occurred over the last 17 years, scientists say. Climate studies consistently show that heat waves are becoming more common across the world, and hitting new all-time temperature records. The Met Office reports that the U.K. is now experiencing “higher maximum temperatures and longer warm spells” than it ever used to. “The summer of 2018 was the joint warmest on record for the U.K. as a whole and the hottest ever for England. The Met Office have shown that human-induced climate change made the 2018 record-breaking U.K. summer temperatures about 30 times more likely than it would have been naturally,” the Office said.

People on the beach during hot summer weather on Brighton beach in Brighton, Britain, July 25, 2019. Peter Nicholls | Reuters


Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: emma newburger
Keywords: news, cnbc, companies, delays, rail, network, europes, train, railway, fires, extreme, heat, flight, tests, europe, temperatures, change, heatwave, infrastructure, climate, uk, scorching


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Jim Cramer: Samsung wants to leapfrog Huawei in 5G infrastructure

Jim Cramer: Samsung wants to leapfrog Huawei in 5G infrastructure20 Hours AgoHuawei suppliers are expected to meet at the White House on Monday to talk about doing business with the Chinese telecom giant. CNCB’s Jim Cramer and Carl Quintanilla discuss.


Jim Cramer: Samsung wants to leapfrog Huawei in 5G infrastructure20 Hours AgoHuawei suppliers are expected to meet at the White House on Monday to talk about doing business with the Chinese telecom giant. CNCB’s Jim Cramer and Carl Quintanilla discuss.
Jim Cramer: Samsung wants to leapfrog Huawei in 5G infrastructure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: justin solomon
Keywords: news, cnbc, companies, 5g, quintanilla, leapfrog, talk, white, suppliers, infrastructure, samsung, cramer, meet, jim, wants, telecom, huawei


Jim Cramer: Samsung wants to leapfrog Huawei in 5G infrastructure

Jim Cramer: Samsung wants to leapfrog Huawei in 5G infrastructure

20 Hours Ago

Huawei suppliers are expected to meet at the White House on Monday to talk about doing business with the Chinese telecom giant. CNCB’s Jim Cramer and Carl Quintanilla discuss.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: justin solomon
Keywords: news, cnbc, companies, 5g, quintanilla, leapfrog, talk, white, suppliers, infrastructure, samsung, cramer, meet, jim, wants, telecom, huawei


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