US Treasury yields tick higher as investors await key central bank meetings

US companies are canceling investment into China at a faster… The latest Amcham survey shows that some U.S. firms in China are speeding up their move away from the mainland as increasing tariffs bite. China Economyread more


US companies are canceling investment into China at a faster… The latest Amcham survey shows that some U.S. firms in China are speeding up their move away from the mainland as increasing tariffs bite. China Economyread more
US Treasury yields tick higher as investors await key central bank meetings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: sam meredith
Keywords: news, cnbc, companies, central, mainland, bank, latest, speeding, increasing, survey, meetings, firms, china, yields, treasury, shows, await, key, tariffs, tick, investors, investment, higher


US Treasury yields tick higher as investors await key central bank meetings

US companies are canceling investment into China at a faster…

The latest Amcham survey shows that some U.S. firms in China are speeding up their move away from the mainland as increasing tariffs bite.

China Economy

read more


Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: sam meredith
Keywords: news, cnbc, companies, central, mainland, bank, latest, speeding, increasing, survey, meetings, firms, china, yields, treasury, shows, await, key, tariffs, tick, investors, investment, higher


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Watch out for this key level in Facebook, Piper Jaffray technical analyst says

The increased regulatory pressure from federal and state bodies hasn’t deterred Craig Johnson, chief market technician at Piper Jaffray. So, we would continue to be a buyer here of Facebook shares,” said Johnson. Gina Sanchez, CEO of Chantico Global, says regulatory risk could knock Facebook down from its high valuations. Facebook trades at nearly 22 times forward earnings. If anything, I think that risk continues to grow,” said Sanchez.


The increased regulatory pressure from federal and state bodies hasn’t deterred Craig Johnson, chief market technician at Piper Jaffray. So, we would continue to be a buyer here of Facebook shares,” said Johnson. Gina Sanchez, CEO of Chantico Global, says regulatory risk could knock Facebook down from its high valuations. Facebook trades at nearly 22 times forward earnings. If anything, I think that risk continues to grow,” said Sanchez.
Watch out for this key level in Facebook, Piper Jaffray technical analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: keris lahiff
Keywords: news, cnbc, companies, risk, level, facebook, analyst, think, shares, piper, technical, moving, trading, trades, times, watch, sanchez, key, jaffray, state


Watch out for this key level in Facebook, Piper Jaffray technical analyst says

Facebook is under a fresh wave of scrutiny.

New York State Attorney Letitia James launched a joint investigation into potential antitrust violations on Friday, joining Florida, Iowa, and Colorado among others in putting the heat on Facebook. The latest probe comes on top of an investigation by the Federal Trade Commission.

The increased regulatory pressure from federal and state bodies hasn’t deterred Craig Johnson, chief market technician at Piper Jaffray.

“We’re still friendly toward the shares,” Johnson said on CNBC’s “Trading Nation” on Friday. “When you look at this chart, we’re still making a series of higher highs and higher lows coming off the December lows, and we’re moving right up toward that 50-day moving average at $191.”

Facebook touched the 50-day moving average on Thursday, but dipped lower Friday. It has not traded above that trend line since early August.

“Any sort of move above that $191 level sets the stock up to move back toward the $204 or $205 range which I do think is a logical place to go. So, we would continue to be a buyer here of Facebook shares,” said Johnson.

Gina Sanchez, CEO of Chantico Global, says regulatory risk could knock Facebook down from its high valuations.

“Facebook, even despite all of this news, is still trading at a premium in terms of forward PE relative to the industry, and so I don’t know that it’s necessarily pricing in the risk that some of these probes present to Facebook,” Sanchez said on the same segment.

Facebook trades at nearly 22 times forward earnings. The XLC communication services ETF by comparison trades with an 18.5 times multiple.

“These probes don’t go away. If anything, I think that risk continues to grow,” said Sanchez. “At the end of the day, we continue to grapple with whether or not companies like this should even be run for profit or are they simply just a commodity and a utility that really isn’t going to make growth kinds of returns.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: keris lahiff
Keywords: news, cnbc, companies, risk, level, facebook, analyst, think, shares, piper, technical, moving, trading, trades, times, watch, sanchez, key, jaffray, state


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Euro remains subdued before key ECB meeting this week

Leveraged funds have increased their net short positions on the euro, expecting the ECB to cut interest rates, announce it will buy government bonds or other European assets, or both. “ECB watchers are confident there could be a 20 bps cut and so the potential surprise (for the euro) on the rate cut isn’t that big,” said Esther Maria Reichelt, a Commerzbank analyst. “It’s far more difficult to assess what kind of unconventional measures” the ECB could use to stimulate the euro zone economy, whic


Leveraged funds have increased their net short positions on the euro, expecting the ECB to cut interest rates, announce it will buy government bonds or other European assets, or both. “ECB watchers are confident there could be a 20 bps cut and so the potential surprise (for the euro) on the rate cut isn’t that big,” said Esther Maria Reichelt, a Commerzbank analyst. “It’s far more difficult to assess what kind of unconventional measures” the ECB could use to stimulate the euro zone economy, whic
Euro remains subdued before key ECB meeting this week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-09
Keywords: news, cnbc, companies, remains, european, rate, cut, key, traders, ecb, subdued, far, dollar, sept, meeting, positions, euro, week


Euro remains subdued before key ECB meeting this week

The euro fell to a five-day low against the dollar Monday as investors remained convinced the European Central Bank would introduce a new wave of monetary policy stimulus at its meeting on Thursday.

Leveraged funds have increased their net short positions on the euro, expecting the ECB to cut interest rates, announce it will buy government bonds or other European assets, or both.

Other global central banks are already loosening monetary policy, including the People’s Bank of China, which on Friday cut the amount of cash that banks must hold as reserves.

“ECB watchers are confident there could be a 20 bps cut and so the potential surprise (for the euro) on the rate cut isn’t that big,” said Esther Maria Reichelt, a Commerzbank analyst.

“It’s far more difficult to assess what kind of unconventional measures” the ECB could use to stimulate the euro zone economy, which “could have a far bigger impact on the euro,” Reichelt said.

Money markets are pricing in a 72% chance the ECB will cut rates by 20 basis points on Thursday, lower expectations than last week. Some analysts suggest the ECB will start buying euro zone equities, not just government bonds, in a new wave of quantitative easing.

The euro was neutral against the dollar in early London trade at $1.1033. It slipped to $1.10155 overnight, its weakest since Sept. 4.

Hedge funds have added more short euro positions, taking the amount of contracts to $6.74 billion in the week to Sept. 3, the highest in a month, though positions were not as big as in April.

The dollar index, which tracks the U.S. currency against six other currencies, was flat at 98.438. The dollar was confined to a narrow range against the yen as traders weighed the prospect of U.S. rate cuts against their demand for safe-haven assets. Dollar/yen was last flat at 106.93.

The Federal Reserve will continue to act “as appropriate” to sustain the U.S. economic expansion, Fed Chair Jerome Powell said Friday in Zurich, bolstering expectations for a rate cut at the Fed’s meeting on Sept. 18.

Elsewhere, the Australian dollar, a proxy for risk, jumped to a five-week high of 0.68625 against the U.S. dollar as traders became more optimistic that China would withstand the impact of trade disputes with the United States, after its central bank cut its reserve rate ratio.

The New Zealand dollar held onto gains, trading at 0.6419 against the U.S. dollar, not far from the four-week high of 0.6444 it reached on Friday.

Sterling was down 0.4% at $1.2235 as traders waited to see whether the British parliament would vote to hold an early general election before the Oct. 31 Brexit deadline. If a snap election were held and the Conservative Party won, it could scrap recent legislation to extend Britain’s exit from the European Union for a third time. Against the euro, sterling was 0.5% lower at 90.13.


Company: cnbc, Activity: cnbc, Date: 2019-09-09
Keywords: news, cnbc, companies, remains, european, rate, cut, key, traders, ecb, subdued, far, dollar, sept, meeting, positions, euro, week


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Sen. Joe Manchin will not run for West Virginia governor, ensuring Democrats keep a key seat

Senator Joe Manchin (D-WV) speaks to supporters at a campaign stop ahead of the 2018 midterm elections in Bridgeport, West Virginia, U.S., November 5, 2018. Sen. Joe Manchin will not run for governor of West Virginia, ensuring Democrats will keep a key Senate seat for a few more years. But he said he decided to stay in the Senate after considering “where [he] could be the most effective” for West Virginia. If Manchin left the Senate, his party could have a tough time winning his seat in West Vir


Senator Joe Manchin (D-WV) speaks to supporters at a campaign stop ahead of the 2018 midterm elections in Bridgeport, West Virginia, U.S., November 5, 2018. Sen. Joe Manchin will not run for governor of West Virginia, ensuring Democrats will keep a key Senate seat for a few more years. But he said he decided to stay in the Senate after considering “where [he] could be the most effective” for West Virginia. If Manchin left the Senate, his party could have a tough time winning his seat in West Vir
Sen. Joe Manchin will not run for West Virginia governor, ensuring Democrats keep a key seat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: jacob pramuk
Keywords: news, cnbc, companies, state, senator, priorities, west, governor, run, manchin, gop, key, democrats, virginia, joe, seats, sen, ensuring, seat, senate


Sen. Joe Manchin will not run for West Virginia governor, ensuring Democrats keep a key seat

Senator Joe Manchin (D-WV) speaks to supporters at a campaign stop ahead of the 2018 midterm elections in Bridgeport, West Virginia, U.S., November 5, 2018.

Sen. Joe Manchin will not run for governor of West Virginia, ensuring Democrats will keep a key Senate seat for a few more years.

The senator declined to challenge Republican Gov. Jim Justice next year, his spokesman said Tuesday. Manchin, considered one of the more centrist members of the Senate, won reelection to another six-year term last year.

In a statement Tuesday, the Democrat said he “loved” his stint as the state’s governor from 2004 to 2010. But he said he decided to stay in the Senate after considering “where [he] could be the most effective” for West Virginia.

“Ultimately, I believe my role as a U.S. Senator allows me to position our state for success for the rest of this century,” Manchin said, highlighting health care, energy and infrastructure as some of his top priorities in the Senate.

His presence is critical for Democrats as they push to take control of the chamber. If Manchin left the Senate, his party could have a tough time winning his seat in West Virginia. President Donald Trump carried the state by about 40 percentage points in 2016.

Republicans currently have a 53-47 edge in the Senate. The GOP has to defend 23 seats next year, while 12 Democratic seats are up for grabs.

Manchin stands among the Democrats most likely to vote with Trump’s priorities and confirm his Cabinet and judicial nominees. He has angered liberals by siding with the GOP on some abortion-related bills and by voting to confirm Supreme Court Justice Brett Kavanaugh last year. The senator has also done more to boost the flagging coal industry — which has a major presence in his state — than many Democrats would like.

Still, he has served as a buffer for his party against Republican legislative priorities. Manchin voted against a GOP plan to repeal parts of the Affordable Care Act in 2017 as the measure failed by only one vote.

The senator has touted his ability to work with Republicans, most recently in an effort to revive gun background check legislation authored with Sen. Pat Toomey, R-Pa.

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Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: jacob pramuk
Keywords: news, cnbc, companies, state, senator, priorities, west, governor, run, manchin, gop, key, democrats, virginia, joe, seats, sen, ensuring, seat, senate


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This popular parenting trend in the Netherlands reveals a key to raising the world’s happiest kids

I was a bit apprehensive at first, but as soon as we had our first son, I was surprised by the richness of Dutch family life. For years, the Netherlands has been consistently ranked as one of the best places in the world to live. Dutch fathers believe in taking a more equal role in child-rearing and household chores. Today, as more and more Dutch fathers see the benefits of spending time with their kids, taking a papadag has become the norm. For American moms, 53% say they’re satisfied with the


I was a bit apprehensive at first, but as soon as we had our first son, I was surprised by the richness of Dutch family life. For years, the Netherlands has been consistently ranked as one of the best places in the world to live. Dutch fathers believe in taking a more equal role in child-rearing and household chores. Today, as more and more Dutch fathers see the benefits of spending time with their kids, taking a papadag has become the norm. For American moms, 53% say they’re satisfied with the
This popular parenting trend in the Netherlands reveals a key to raising the world’s happiest kids Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-29  Authors: rina mae acosta
Keywords: news, cnbc, companies, taking, papadag, raising, netherlands, happiest, worlds, trend, key, workweek, fathers, parenting, spend, dutch, kids, day, popular, family, reveals


This popular parenting trend in the Netherlands reveals a key to raising the world's happiest kids

As someone who was born and raised in the US, the idea of working full-time and being a mother in America — a country that ranks last in “family friendliness” — always terrified me. So when Bram (my Dutch husband) suggested that we move to Doorn, a tiny village located in central Netherlands, to start a family, I thought, Why not? I was a bit apprehensive at first, but as soon as we had our first son, I was surprised by the richness of Dutch family life. For years, the Netherlands has been consistently ranked as one of the best places in the world to live. As part-time champions of Europe, the Dutch work an average of 29 hours per week — the lowest of any industrialized nation, according to the OECD. (The average American, by comparison, works roughly 43 hours per week.)

Taking a ‘daddy day’ has become the norm

Dutch kids are known as the happiest in the world, according to UNICEF, Britain’s Child Poverty Action Group and the World Economic Forum. Part of the reason why is because shorter workweeks, especially for fathers, means more time at home and higher involvement in sharing parenting duties. The role of fathers in the development and well-being of children has been increasingly recognized by researchers. HBSC studies have suggested that Dutch children’s relationships with their fathers have improved significantly in step with the increased time they spend together. Dutch fathers believe in taking a more equal role in child-rearing and household chores. You’re just as likely to see a dad pushing a stroller or wearing a baby-carrier as you would with a mom. When a child has a fever, for example, parents will take turns staying at home with the child, with most employers showing understanding and leniency. Years ago, when the full-time workweek was reduced to 36 hours in the Netherlands to combat unemployment, the government compensated those who had been working a 40-hour, 9-to-5 workweek by giving them extra vacation of half a day a week — or one day a fortnight. This time off is frequently used by fathers as their “papadag,” which literally translates to “daddy day.” Today, as more and more Dutch fathers see the benefits of spending time with their kids, taking a papadag has become the norm. In 2016, nearly 50% of young fathers in the Netherlands said they take a day off at least once a week to be at home — and that percentage has only continued to increase. (Pictured above: The author and her family) “Taking a papadag is pretty common, especially within the public and government sectors here,” my friend Mathijs explained when I first moved to the Netherlands. “Choosing to do a four-day workweek was an easy decision. I appreciate the extra time I get to spend with my daughter alone,” he said. In our home, Bram also does his share of papadag: He’s in charge of the week’s grocery shopping, taking our kids with him. Bram also does all the weekend cleaning, laundry and vacuuming. After that, he’ll take the little ones to the zoo or the pool. For me, it’s my time to catch up, finish my writing assignments, blog posts and other projects. (Dutch moms also enjoy the benefits of the part-time work culture here; many continue working part-time even after all their children have started school full-time or have left the nest, but that’s a whole other discussion).

Parenting in America

When I tell my American friends about papadag, they often look at me in disbelief: “Seriously? Dads choose a four-day workweek just to spend time with their kids?” The concept is simply unheard of in many places, especially in North America, where taking a workday off to be with family would be shocking, let alone a week. That’s not to say that American fathers don’t care about spending more time with their children. In fact, 63% admit that they spend too little time at home and on child care duties, according to a recent Pew Research Center survey. For American moms, 53% say they’re satisfied with the amount of time they spend with their kids. Yet even in families where both partners hold down jobs, research has shown that women still tend to shoulder most of the parenting and household chores. It also doesn’t help that the US is the only OECD country that still has no federal policy in place to guarantee working mothers or fathers paid time off to care for their new babies.

Is papadag the secret to raising happy kids?


Company: cnbc, Activity: cnbc, Date: 2019-08-29  Authors: rina mae acosta
Keywords: news, cnbc, companies, taking, papadag, raising, netherlands, happiest, worlds, trend, key, workweek, fathers, parenting, spend, dutch, kids, day, popular, family, reveals


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Here are the best ways to secure important financial documents

Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it. Estate-planning documents — such as wills, trusts, living wills, medical directives and powers of attorney —are very important to you. Ensuring your family knows about your estate and other documents, and where to find them, is key. Life insurance policies, divorce records and real estate deeds are some of the other physical documents that should be safely kept. However, there


Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it. Estate-planning documents — such as wills, trusts, living wills, medical directives and powers of attorney —are very important to you. Ensuring your family knows about your estate and other documents, and where to find them, is key. Life insurance policies, divorce records and real estate deeds are some of the other physical documents that should be safely kept. However, there
Here are the best ways to secure important financial documents Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: kelley keehn, personal finance educator, ted jenkin, co-founder, ceo of oxygen financial
Keywords: news, cnbc, companies, estate, key, box, secure, place, wills, best, ways, digital, safely, important, documents, financial


Here are the best ways to secure important financial documents

Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it.

Estate-planning documents — such as wills, trusts, living wills, medical directives and powers of attorney —are very important to you. So where do you keep them safely secured? And what about your digital assets, passwords and social media accounts?

Jason Heath, a certified financial planner and managing director with Objective Financial Partners, reminds people that some states have public will registries, and there are private will registry companies, as well.

More from FA Playbook:

How fintech advances help financial advisors

Cringeworthy mistakes advisors see clients make

Are collectibles for collecting or investing?

“Although estate-planning documents do not need to be registered, it may be a good idea,” he said.

However, registering documents may not be enough. Ensuring your family knows about your estate and other documents, and where to find them, is key. Life insurance policies, divorce records and real estate deeds are some of the other physical documents that should be safely kept. A safety deposit box, or a safe place at home, may be an option.

However, there are also online options available to organize this data in one place and provide a digital “key” to loved ones.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: kelley keehn, personal finance educator, ted jenkin, co-founder, ceo of oxygen financial
Keywords: news, cnbc, companies, estate, key, box, secure, place, wills, best, ways, digital, safely, important, documents, financial


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A voter who could be key to Elizabeth Warren’s 2020 hopes? Justice Brett Kavanaugh

Sen. Elizabeth Warren’s political origin story is inextricably tied to the Consumer Financial Protection Bureau, a regulatory agency the presidential contender envisioned while an influential professor at Harvard Law School. But Justice Brett Kavanaugh, who until October was a federal appeals court judge in Washington, made his views clear before his confirmation. Read more: Supreme Court could cripple consumer finance watchdog if agency critic Brett Kavanaugh is confirmedIn his first term on th


Sen. Elizabeth Warren’s political origin story is inextricably tied to the Consumer Financial Protection Bureau, a regulatory agency the presidential contender envisioned while an influential professor at Harvard Law School. But Justice Brett Kavanaugh, who until October was a federal appeals court judge in Washington, made his views clear before his confirmation. Read more: Supreme Court could cripple consumer finance watchdog if agency critic Brett Kavanaugh is confirmedIn his first term on th
A voter who could be key to Elizabeth Warren’s 2020 hopes? Justice Brett Kavanaugh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: tucker higgins
Keywords: news, cnbc, companies, kavanaugh, key, warren, voter, 2020, agency, warrens, court, sen, brett, presidential, wealth, tax, justice, elizabeth, supreme, hopes


A voter who could be key to Elizabeth Warren's 2020 hopes? Justice Brett Kavanaugh

Sen. Elizabeth Warren’s political origin story is inextricably tied to the Consumer Financial Protection Bureau, a regulatory agency the presidential contender envisioned while an influential professor at Harvard Law School.

In the brief biography included on her campaign’s Twitter account, Warren boasts that she is the “mom” of the agency. In Iowa, a staffer recently got the CFPB’s initials tattooed on her bottom lip.

But the fate of the Obama-era regulatory agency is now in the hands of a skeptical Supreme Court, which is weighing whether to take up a case that would allow it to rule on the constitutionality of the agency’s structure. The court is being asked to declare the CFPB — and all of its actions to date — unlawful.

The top court has not yet considered the matter. But Justice Brett Kavanaugh, who until October was a federal appeals court judge in Washington, made his views clear before his confirmation.

“The CFPB’s departure from historical practice, threat to individual liberty, and diminution of Presidential authority combine to make this an overwhelming case of unconstitutionality,” Kavanaugh wrote in a dissent in 2018. A little more than a year before, Kavanaugh authored an opinion, later overruled, striking down the agency.

Read more: Supreme Court could cripple consumer finance watchdog if agency critic Brett Kavanaugh is confirmed

In his first term on the bench, Kavanaugh has proven to be near the court’s ideological center.

If he and the court’s four other Republican-appointed justices put Warren’s signature accomplishment in the dust bin, the decision could dent the Massachusetts Democrat’s argument that she is the best presidential candidate to accomplish “big, structural change” while in office.

And it could focus attention on questions about the constitutionality of another Warren pledge, a federal wealth tax on the ultra-rich, which Warren says will raise the funds to pay for other key parts of her agenda. Those who advised Warren on the wealth tax plan have said they are uncertain about whether the top court will approve it.

The case is another instance in which the Supreme Court, with a newly reliable conservative majority, could hamper Democratic political goals. In the wake of Kavanaugh’s confirmation last year, liberal activists have pressured Democrats to reform the court, which they have argued has grown politicized.

Warren herself has indicated that she is open to expanding the size of the nine-member panel, drawing a contrast between herself and fellow progressive Sen. Bernie Sanders of Vermont, who has ruled out the idea.

Read more: The Supreme Court could stop Elizabeth Warren’s wealth tax dead in its tracks

In a sign of the rising political profile of the top court, a number of Democratic senators, including presidential contender Sen. Kirsten Gillibrand, filed an unusual brief with the justices this week telling them to “heal” or face the prospect of getting “restructured.”

The Warren campaign did not respond to multiple requests for comment. Warren has previously defended the constitutionality of the CFPB, and said that other government agencies, such as the Comptroller of the Currency, have similar structures.

The CFPB said in 2017 it had returned $12 billion in financial relief to consumers since it was created seven years earlier in the wake of the financial crisis. The Trump administration has severely curtailed its enforcement actions.


Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: tucker higgins
Keywords: news, cnbc, companies, kavanaugh, key, warren, voter, 2020, agency, warrens, court, sen, brett, presidential, wealth, tax, justice, elizabeth, supreme, hopes


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The head of security for cryptocurrency exchange Coinbase describes his biggest challenge: Education

Coinbase security chief Philip Martin has a big challenge: Explaining the fundamentals of security to customers whose financial worth absolutely depends on remembering their passwords and keeping their keys safe. But at a typical bank, cryptography is often limited to two basic categories: masking personal information, like Social Security numbers, and ensuring websites are secured. What that means is that you can’t revoke a cryptocurrency key, if that key is lost, compromised, there is no abili


Coinbase security chief Philip Martin has a big challenge: Explaining the fundamentals of security to customers whose financial worth absolutely depends on remembering their passwords and keeping their keys safe. But at a typical bank, cryptography is often limited to two basic categories: masking personal information, like Social Security numbers, and ensuring websites are secured. What that means is that you can’t revoke a cryptocurrency key, if that key is lost, compromised, there is no abili
The head of security for cryptocurrency exchange Coinbase describes his biggest challenge: Education Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: kate fazzini
Keywords: news, cnbc, companies, key, keys, encryption, head, way, challenge, biggest, exchange, describes, coinbase, cryptocurrency, information, social, martin, security, education, transactions


The head of security for cryptocurrency exchange Coinbase describes his biggest challenge: Education

Coinbase security chief Philip Martin has a big challenge: Explaining the fundamentals of security to customers whose financial worth absolutely depends on remembering their passwords and keeping their keys safe.

“We have the problem of a global cryptocurrency company figuring out how to talk about security, in a way that plays in Japan in San Francisco and in Europe, and across the age divide, in a way that actually resonates to the people we’re talking to,” he said.

Coinbase is one of the largest cryptocurrency trading and payment platforms, most recently valued at around $8 billion, and supports more than a quarter million bitcoin transactions per day.

Financial companies have to deal with encryption as part of the day-to-day security duties. But at a typical bank, cryptography is often limited to two basic categories: masking personal information, like Social Security numbers, and ensuring websites are secured. But cryptocurrency wallets are different, because encryption plays such a fundamental role. This is new to a lot of consumers working with Bitcoin for the first time, Martin said.

“We deal with long-lived keys that we generate that live for a very long time, that are the direct controller of liquid value,” said Martin, who previously served as an information security lead at Palantir Technologies and in U.S. Army counterintelligence.

“Possession of a key is possession of your currency. What that means is that you can’t revoke a cryptocurrency key, if that key is lost, compromised, there is no ability to get [the value] back.”

This makes the stakes of theft of encrypted data more severe, than, say, the theft of encrypted social security data at a financial institutions, he explained. “The consequences of loss are much higher.” It also means attackers are much more aggressive about gaining access to that encryption, he said.

Those high consequences mean Coinbase’s security organization must help contribute to a broad communication plan to customers, that helps explain clearly how to handle their keys, passwords and other important information for securing their accounts.

For those new to cryptocurrency, “a lot of work is going to how do I interact with the ecosystem? How do I act differently here than if I am protecting my social media account?” he said.

Traditional banks have an advantage, he added, in that “transactions in the traditional fiat system are reversible,” whereas transactions via blockchain are by and large irrevocable. Banks might have more problems with wire fraud involving CEO impersonation, but cryptocurrency users are often subject to cold-call “tech support” scams, he said, in which a criminal calls a customer to convince them to give up valuable security information, starting with “I’m here to help you with your coinbase account problem.”


Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: kate fazzini
Keywords: news, cnbc, companies, key, keys, encryption, head, way, challenge, biggest, exchange, describes, coinbase, cryptocurrency, information, social, martin, security, education, transactions


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Beto O’Rourke goes after key immunity for social media companies if they allow users to incite violence

Democratic presidential candidate Beto O’Rourke is seen at the site of a mass shooting at a Walmart in El Paso, Texas, August 4, 2019. Following the mass shooting in his hometown of El Paso, Texas last week, Democratic presidential candidate Beto O’Rourke is seeking to hold social media companies accountable for the hateful content their users post. O’Rourke says the legislation should be amended to allow tech companies to be held accountable “where they are found to knowingly promote content th


Democratic presidential candidate Beto O’Rourke is seen at the site of a mass shooting at a Walmart in El Paso, Texas, August 4, 2019. Following the mass shooting in his hometown of El Paso, Texas last week, Democratic presidential candidate Beto O’Rourke is seeking to hold social media companies accountable for the hateful content their users post. O’Rourke says the legislation should be amended to allow tech companies to be held accountable “where they are found to knowingly promote content th
Beto O’Rourke goes after key immunity for social media companies if they allow users to incite violence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: lauren feiner
Keywords: news, cnbc, companies, tech, platforms, plan, orourke, paso, shooting, texas, users, key, social, companies, goes, immunity, media, incite, violence


Beto O'Rourke goes after key immunity for social media companies if they allow users to incite violence

Democratic presidential candidate Beto O’Rourke is seen at the site of a mass shooting at a Walmart in El Paso, Texas, August 4, 2019.

Following the mass shooting in his hometown of El Paso, Texas last week, Democratic presidential candidate Beto O’Rourke is seeking to hold social media companies accountable for the hateful content their users post.

As part of a plan released on his campaign website Friday called “Combating Hate and Violence in America, ” O’Rourke is going after a key piece of legislation known as Section 230 of the Communications Decency Act. The law provides social media companies immunity from legal liability for their users’ posts and has been hotly debated by lawmakers as privacy scandals and antitrust probes have descended upon Big Tech. O’Rourke says the legislation should be amended to allow tech companies to be held accountable “where they are found to knowingly promote content that incites violence.”

O’Rourke’s plan draws a clear line between hateful messages on the internet and real life violence. In the case of the El Paso shooting, the link was clear — the gunman reportedly released an anti-immigrant manifesto on the message board 8chan just prior to the attack. Following the revelation, cybersecurity company Cloudflare cut its service from 8chan, and O’Rourke’s plan calls for other providers to do the same.

“We must connect the dots between internet communities providing a platform for online radicalization and white supremacy, as propaganda outlets like Fox News fuel that fire, and the fact that hate crimes against Black and LGBTQ+ Americans are on the rise,” according to the post on O’Rourke’s campaign website.

O’Rourke’s proposal could have serious implications for social media platforms like Facebook, Twitter and Google-owned YouTube, which all came under fire after videos of the shooting in Christchurch, New Zealand proliferated on their platforms earlier this year.

The plan would require “large internet platforms to adopt terms of service to ban hateful activities, defined as those that incite or engage in violence, intimidation, harassment, threats, or defamation targeting an individual or group based on their actual or perceived race, color, religion, national origin, ethnicity, immigration status, gender, gender identity, sexual orientation or disability.”

The plan doesn’t just apply to Big Tech companies. Companies of all sizes would be liable if they host content that promotes violence.

If enacted, these platforms would likely have to amend their policies and removal processes or face a greater threat of legal repercussions.

In his latest stance, O’Rourke joins his former opponent Sen. Ted Cruz, R-Texas, to whom he narrowly lost a bid for the state’s Senate seat last year. Cruz’s motivations for opposing the legal protection for tech companies are far different, however. During a debate leading up to the 2018 election, Cruz said he believes Big Tech does not deserve immunity if they cannot eliminate bias from their platforms.

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Watch: Back-to-back mass shootings in Texas and Ohio leave 31 people dead


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: lauren feiner
Keywords: news, cnbc, companies, tech, platforms, plan, orourke, paso, shooting, texas, users, key, social, companies, goes, immunity, media, incite, violence


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