Joe Biden holds his big lead, and Kamala Harris slides: Here are the latest 2020 Democratic primary polls

Candidates former Vice President Joe Biden and U.S. Senator Kamala Harris take the stage on the second night of the second 2020 Democratic U.S. presidential debate in Detroit, Michigan, July 31, 2019. Through all of the 2020 Democratic presidential primary’s early ups and downs, Joe Biden has consistently outpaced the field in polls. The former vice president has led nearly every survey at both the national and early nominating state level. His support dipped following the first Democratic debat


Candidates former Vice President Joe Biden and U.S. Senator Kamala Harris take the stage on the second night of the second 2020 Democratic U.S. presidential debate in Detroit, Michigan, July 31, 2019. Through all of the 2020 Democratic presidential primary’s early ups and downs, Joe Biden has consistently outpaced the field in polls. The former vice president has led nearly every survey at both the national and early nominating state level. His support dipped following the first Democratic debat
Joe Biden holds his big lead, and Kamala Harris slides: Here are the latest 2020 Democratic primary polls Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: jacob pramuk
Keywords: news, cnbc, companies, democratic, vice, kamala, lead, harris, latest, joe, second, polling, polls, primary, holds, presidential, slides, debate, national, president


Joe Biden holds his big lead, and Kamala Harris slides: Here are the latest 2020 Democratic primary polls

Candidates former Vice President Joe Biden and U.S. Senator Kamala Harris take the stage on the second night of the second 2020 Democratic U.S. presidential debate in Detroit, Michigan, July 31, 2019.

Through all of the 2020 Democratic presidential primary’s early ups and downs, Joe Biden has consistently outpaced the field in polls.

The former vice president has led nearly every survey at both the national and early nominating state level. His support dipped following the first Democratic debate in late June, then stabilized in recent weeks.

Biden has so far shown staying power at the top of a jammed Democratic field even as his rivals’ polling numbers wax and wane. Sen. Kamala Harris, D-Calif., has seen her standing change most dramatically: she surged from fourth to second in the RealClearPolitics national polling average after a strong first debate showing, then dropped back to fourth.


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: jacob pramuk
Keywords: news, cnbc, companies, democratic, vice, kamala, lead, harris, latest, joe, second, polling, polls, primary, holds, presidential, slides, debate, national, president


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There are surprising signs that Trump’s maximum pressure on Iran could lead to talks

Iranian Supreme Leader Ayatollah Ali Khamenei speaks during a meeting with students in Tehran, Iran on Oct. 18, 2017. Iranian Leader’s Press Office – Handout | Anadolu Agency | Getty ImagesSurprising new signs are emerging that President Donald Trump’s controversial “maximum pressure’ campaign on Iran could set the table for new negotiations toward a better agreement. Given both the present perils and the emerging potential, it’s time to transform Trump’s maximum pressure into diplomatic activit


Iranian Supreme Leader Ayatollah Ali Khamenei speaks during a meeting with students in Tehran, Iran on Oct. 18, 2017. Iranian Leader’s Press Office – Handout | Anadolu Agency | Getty ImagesSurprising new signs are emerging that President Donald Trump’s controversial “maximum pressure’ campaign on Iran could set the table for new negotiations toward a better agreement. Given both the present perils and the emerging potential, it’s time to transform Trump’s maximum pressure into diplomatic activit
There are surprising signs that Trump’s maximum pressure on Iran could lead to talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: frederick kempe
Keywords: news, cnbc, companies, maximum, deal, nuclear, sanctions, iran, irans, trumps, signs, better, surprising, trump, talks, tehran, lead, pressure, iranian


There are surprising signs that Trump's maximum pressure on Iran could lead to talks

Iranian Supreme Leader Ayatollah Ali Khamenei speaks during a meeting with students in Tehran, Iran on Oct. 18, 2017. Iranian Leader’s Press Office – Handout | Anadolu Agency | Getty Images

Surprising new signs are emerging that President Donald Trump’s controversial “maximum pressure’ campaign on Iran could set the table for new negotiations toward a better agreement. To get there, however, Trump will have to navigate the greatest perils in U.S.-Iranian relations in recent memory – something he has done so far with a military restraint that has confounded his critics and gained him praise for “prudence ” even from Iran’s foreign minister. Since late April, when the Trump administration ended waivers on eight countries that allowed them to continue to buy Iranian oil, Tehran’s exports have nosedived to some 300,000 barrels a day from more than a million previously. Its economy has shrunk by 6%, and its currency has lost 60% of its value over the past year. The immediate impact of that escalated U.S. economic pressure has been the most dangerous ratcheting up of Iran’s threatening activities in memory, which one senior U.S. official explains as Tehran “punching its way toward new talks.” Iran has begun to breach the nuclear deal’s enrichment restrictions, it shot down an American drone, and it now has seized a British tanker. This week, Tehran announced plans to execute a ring of alleged CIA spies. Beyond that, Iranian-backed Houthis in Yemen have been using drones and missiles provided them by Tehran to strike Saudi targets such as airfields, pipelines and pumping stations. Iranian trained and financed Shia militias are firing rockets at U.S. bases, and Israeli security officials have told former U.S. official Dennis Ross that the Iranian-backed group Islamic Jihad is trying to provoke conflict with Israel in Gaza.

None of that may look much like a prelude to Iran returning to the negotiating table, except that Iranian officials in the last few days are showing an unexpected and public willingness to talk. Past patterns have shown that Iran never likes engaging from a position of perceived weakness. Talking to U.S. journalists, Foreign Minister Javad Zarif last week floated the idea of a deal that would have the U.S. easing sanctions and Iran agreeing to a tougher nuclear protocol. Then he met with Sen. Rand Paul, R-Ky., a self-appointed U.S. mediator. The New York Times’ Farnaz Fassihi also reports on what she regards an intriguing split among Iranian hard-liners on how to deal with Trump between those who have long ruled out any dealings. They include the country’s supreme leader, Ali Khamenei, and former President Mahmoud Ahmadinejad, known in Washington for his Holocaust denial and anti-American and anti-Israeli fervor, as well as other conservative clerics and officials close to the Revolutionary Guards who are advocating for negotiations with the U.S. “Mr. Trump is a man of action,” Ahmadinejad said. “He is a businessman and therefore he is capable of calculating cost-benefits and making a decision. We say to him, let’s calculate the long-term cost-benefit of our two nations and not be short-sighted.” He conceded the issues went far beyond the matter of the nuclear agreement and would require “a fundamental discussion.” Given both the present perils and the emerging potential, it’s time to transform Trump’s maximum pressure into diplomatic activity. It’s also time to provide a more common front to Iran by taming transatlantic tensions, moderating Washington’s partisan bickering and toning down Trumpian tweets so that all parties can better leverage the indisputable economic bite of sanctions into a deal that better contains Iran and avoid war. It really doesn’t matter anymore whether you believe Trump never should have withdrawn from President Barack Obama’s nuclear deal with Iran in May 2018, and instead should have done more to leverage it with allies and through sanctions for a better deal. It also doesn’t matter whether you believe Obama never should have entered such a significant agreement without more effort at bipartisan, congressional approval. Or that U.S. engagement with Iran failed to address the present danger Iran’s use of regional proxies, support for terrorists or ballistic missile development. That’s water under the bridge. The question now is a larger one: What’s the best course to address the largest security challenge in the Middle East, now that the danger of an ISIS caliphate has been wrestled down? Iran’s nuclear ambitions had been an accumulating danger, but its Arab and Israeli neighbors all along argued that their more immediate worries were Tehran’s destabilizing activities in Lebanon, Syria, Yemen, Iraq and Gaza – which continue.

Even Trump’s fiercest critics concede U.S. unilateral sanctions have reduced the resources Iran can invest in malign activities.


Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: frederick kempe
Keywords: news, cnbc, companies, maximum, deal, nuclear, sanctions, iran, irans, trumps, signs, better, surprising, trump, talks, tehran, lead, pressure, iranian


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Foreign election trolls continue to gain traction, fueled by cryptocurrencies and the sale of ‘influence packages’ online: NSA cyber lead

Neuberger was also named to lead a new cybersecurity directorate established at the NSA on Tuesday. The specifics on many social media influence packages are often hazy but they can include mentions by high-ranked influencers or the ability to purchase large numbers of fake followers. The NSA is taking a three-part approach to handling the continued onslaught of elections interference in advance of 2020. Neuberger said the NSA is doing the following:Ensuring the NSA maintains insights into attem


Neuberger was also named to lead a new cybersecurity directorate established at the NSA on Tuesday. The specifics on many social media influence packages are often hazy but they can include mentions by high-ranked influencers or the ability to purchase large numbers of fake followers. The NSA is taking a three-part approach to handling the continued onslaught of elections interference in advance of 2020. Neuberger said the NSA is doing the following:Ensuring the NSA maintains insights into attem
Foreign election trolls continue to gain traction, fueled by cryptocurrencies and the sale of ‘influence packages’ online: NSA cyber lead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-23  Authors: kate fazzini
Keywords: news, cnbc, companies, nsa, technology, systems, fueled, neuberger, traction, social, online, trolls, equipment, working, voting, gain, sale, lead, influence, packages, security


Foreign election trolls continue to gain traction, fueled by cryptocurrencies and the sale of 'influence packages' online: NSA cyber lead

Nation-states are still active on social media and working to influence public opinion and create rancor, even as companies like Facebook and Twitter have tried to put controls on foreign trolls, said Anne Neuberger, lead investigator on election fraud for the National Security Agency on Tuesday.

Neuberger, speaking at the International Conference on Cybersecurity in New York said the continued increase in availability of cryptocurrencies combined with the emergence of comprehensive social media “influence packages” have given foreign actors new avenues of influence on popular platforms. Neuberger was also named to lead a new cybersecurity directorate established at the NSA on Tuesday.

The specifics on many social media influence packages are often hazy but they can include mentions by high-ranked influencers or the ability to purchase large numbers of fake followers.

Neuberger said the NSA has observed that “foreign adversaries” are today, like prior to 2016, “more focused on driving divisive issues, including inciting people against one another,” both at in-person events and online. Today’s trolls have similar goals to past ones, namely “Making people in a democratic nation question whether democracy is the best way” forward.

The NSA is taking a three-part approach to handling the continued onslaught of elections interference in advance of 2020. Neuberger said the NSA is doing the following:

Ensuring the NSA maintains insights into attempts to influence upcoming elections, including partnerships with other countries that may be similarly effected.

Finding new, better or more creative ways to share classified information, including working with DHS in its efforts to partner with state and local entities, as well as technology companies that are involved in elections.

Working with the FBI, on the influence side, to continue enforcing integrity of elections.

For 2020, Neuberger also said that while the cybersecurity agencies within the federal government are focused on election security, “a big part of that integrity is that each American … is ensuring we educate ourselves, and being aware of what we read online.”

On the voting equipment side, Chris Wlaschin, vice president of systems security for Election Systems & Software, one of the nation’s largest manufacturers of voting equipment, said his company and others have been working closely with the Department of Homeland Security and intelligence agencies to ready for upcoming elections.

He said the diversity of voting equipment throughout the country, given each state’s independence in making purchasing decisions and selecting equipment and methods, is a strength. That’s because the equipment is not interconnected, Wlaschin said, and elections systems today are unable to connect to the wider internet.

Wlaschin also said that he expects mobile voting technology to be adopted in the near future for states that are demanding the option, and that developers are focusing on security of this new technology. “We are working hard to support that,” he said.

Follow @CNBCtech on Twitter for the latest tech industry news.


Company: cnbc, Activity: cnbc, Date: 2019-07-23  Authors: kate fazzini
Keywords: news, cnbc, companies, nsa, technology, systems, fueled, neuberger, traction, social, online, trolls, equipment, working, voting, gain, sale, lead, influence, packages, security


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Oil prices will stay ‘relatively benign’ despite escalating Iran tensions, Morgan Stanley says

Oil supertanker Grace 1 on suspicion of being carrying Iranian crude oil to Syria is seen near Gibraltar, Spain July 4, 2019. Morgan Stanley does not expect rising tensions in the world’s most important oil chokepoint to lead to a sustained jump in oil prices. Instead, the investment bank expects non-OPEC supply growth to keep crude futures relatively subdued over the coming months. Oil prices rose more than 2% Monday morning, amid concerns that Iran’s seizure of a British tanker last week could


Oil supertanker Grace 1 on suspicion of being carrying Iranian crude oil to Syria is seen near Gibraltar, Spain July 4, 2019. Morgan Stanley does not expect rising tensions in the world’s most important oil chokepoint to lead to a sustained jump in oil prices. Instead, the investment bank expects non-OPEC supply growth to keep crude futures relatively subdued over the coming months. Oil prices rose more than 2% Monday morning, amid concerns that Iran’s seizure of a British tanker last week could
Oil prices will stay ‘relatively benign’ despite escalating Iran tensions, Morgan Stanley says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: sam meredith
Keywords: news, cnbc, companies, crude, rats, oil, supply, stay, stanley, tensions, morgan, escalating, disruptions, nonopec, iran, worlds, despite, relatively, lead, prices


Oil prices will stay 'relatively benign' despite escalating Iran tensions, Morgan Stanley says

Oil supertanker Grace 1 on suspicion of being carrying Iranian crude oil to Syria is seen near Gibraltar, Spain July 4, 2019.

Morgan Stanley does not expect rising tensions in the world’s most important oil chokepoint to lead to a sustained jump in oil prices.

Instead, the investment bank expects non-OPEC supply growth to keep crude futures relatively subdued over the coming months.

Oil prices rose more than 2% Monday morning, amid concerns that Iran’s seizure of a British tanker last week could lead to disruptions in the energy-rich Gulf.

When asked whether he was concerned about possible supply disruptions in the wake of intensifying geopolitical tensions in the Middle East, Morgan Stanley’s global oil strategist Martijn Rats, told CNBC: “Actually, on the whole, not that much.”

“The history of fear around the Strait of Hormuz suggests that from time to time, this concern can flare up and we can have some disruptions but they rarely last for very long.”

“There is a difference in the oil market this time around because non-OPEC is simply growing so fast. That is the real game changer and that’s why the price action is relatively benign,” Rats said on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: sam meredith
Keywords: news, cnbc, companies, crude, rats, oil, supply, stay, stanley, tensions, morgan, escalating, disruptions, nonopec, iran, worlds, despite, relatively, lead, prices


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Facebook’s David Marcus: US should take the lead in regulating Libra

Facebook’s David Marcus: US should take the lead in regulating Libra4 Hours AgoFacebook’s David Marcus testifies before Congress on the regulatory process of the new cryptocurrency, Libra.


Facebook’s David Marcus: US should take the lead in regulating Libra4 Hours AgoFacebook’s David Marcus testifies before Congress on the regulatory process of the new cryptocurrency, Libra.
Facebook’s David Marcus: US should take the lead in regulating Libra Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, facebooks, process, libra, hours, regulating, lead, david, regulatory, marcus, testifies, libra4


Facebook's David Marcus: US should take the lead in regulating Libra

Facebook’s David Marcus: US should take the lead in regulating Libra

4 Hours Ago

Facebook’s David Marcus testifies before Congress on the regulatory process of the new cryptocurrency, Libra.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, facebooks, process, libra, hours, regulating, lead, david, regulatory, marcus, testifies, libra4


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Buttigieg, Biden lead the 2020 Democratic money race — see how the rest of the field stacks up

Pete Buttigieg (L) and Joe Biden exchange words during a break in the second Democratic debate hosted by NBC News in Miami, June 27, 2019. Pete Buttigieg and Joe Biden led the 2020 Democratic primary field in second-quarter fundraising, while the leading candidates entered July with a healthy store of cash, according to new campaign filings. Buttigieg hauled in $24.9 million from April through June, the best in the field of about two dozen candidates. Sanders entered July with a $27.3 million wa


Pete Buttigieg (L) and Joe Biden exchange words during a break in the second Democratic debate hosted by NBC News in Miami, June 27, 2019. Pete Buttigieg and Joe Biden led the 2020 Democratic primary field in second-quarter fundraising, while the leading candidates entered July with a healthy store of cash, according to new campaign filings. Buttigieg hauled in $24.9 million from April through June, the best in the field of about two dozen candidates. Sanders entered July with a $27.3 million wa
Buttigieg, Biden lead the 2020 Democratic money race — see how the rest of the field stacks up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: jacob pramuk john w schoen, jacob pramuk, john w schoen
Keywords: news, cnbc, companies, second, rep, entered, 2020, money, rest, candidates, biden, race, cash, field, buttigieg, million, stacks, lead, warren, democratic


Buttigieg, Biden lead the 2020 Democratic money race — see how the rest of the field stacks up

Pete Buttigieg (L) and Joe Biden exchange words during a break in the second Democratic debate hosted by NBC News in Miami, June 27, 2019.

Pete Buttigieg and Joe Biden led the 2020 Democratic primary field in second-quarter fundraising, while the leading candidates entered July with a healthy store of cash, according to new campaign filings.

Buttigieg hauled in $24.9 million from April through June, the best in the field of about two dozen candidates. Biden took in the second most with about $22 million, followed by Sens. Elizabeth Warren and Bernie Sanders with about $19.2 and $18 million in contributions, respectively.

For the fundraising totals, CNBC tracked individual contributions, a key way to gauge support for candidates. The exception is former Rep. John Delaney, the only candidate to self fund the vast majority of his campaign operation.

Sanders entered July with a $27.3 million war chest, the biggest among Democratic candidates. Buttigieg, the mayor of South Bend, Indiana, had $22.7 million on hand, while Warren had $19.8 million.

The numbers, filed late Monday, give a glimpse into who has the resources to build infrastructure in key early nominating states — and who may struggle just to stay in the race in the coming months. The figures also offer clues about who may be able to keep up with President Donald Trump’s campaign, which has a head start on the fractured Democratic field and entered July with $56.7 million in the bank.

The candidates are jockeying for position ahead of the first primary nominating contests in February. Biden, the former vice president, has led the vast majority of early national and state polls, typically followed by a combination of Sanders, Warren, Sen. Kamala Harris and Buttigieg.

A handful of candidates burned through cash faster than they raised it in the second quarter. They include former Rep. Beto O’Rourke and Sens. Kirsten Gillibrand, Cory Booker and Amy Klobuchar.

Miramar, Florida, Mayor Wayne Messam had about $31,000 in cash left at the end of June, the least in the field. (He spent only about $23,000 in the second quarter, less than half of what he raised). Rep. Tim Ryan of Ohio had about $335,000 left in the bank, while author Marianne Williamson and Rep. Seth Moulton of Massachusetts went into July with about $550,000 and $725,000 on hand, respectively.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: jacob pramuk john w schoen, jacob pramuk, john w schoen
Keywords: news, cnbc, companies, second, rep, entered, 2020, money, rest, candidates, biden, race, cash, field, buttigieg, million, stacks, lead, warren, democratic


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Five things to know about Christine Lagarde, the first woman to lead the European Central Bank

JOHN THYS | AFP | Getty ImagesChristine Lagarde is set to become the first female president of the European Central Bank later this year. The appointment of the former French finance minister marks only the latest step in a career notable for history-making moments. Rising through the ranks at her law firm, Lagarde specialized in labor law and anti-trust, as well as mergers and acquisitions. Mark Rutte Dutch prime ministerIn 2005, she left Baker McKenzie to jump deep into the world of politics a


JOHN THYS | AFP | Getty ImagesChristine Lagarde is set to become the first female president of the European Central Bank later this year. The appointment of the former French finance minister marks only the latest step in a career notable for history-making moments. Rising through the ranks at her law firm, Lagarde specialized in labor law and anti-trust, as well as mergers and acquisitions. Mark Rutte Dutch prime ministerIn 2005, she left Baker McKenzie to jump deep into the world of politics a
Five things to know about Christine Lagarde, the first woman to lead the European Central Bank Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: silvia amaro
Keywords: news, cnbc, companies, european, french, things, finance, female, woman, christine, tapie, imf, lagarde, lead, know, minister, law, central, bank, tough


Five things to know about Christine Lagarde, the first woman to lead the European Central Bank

International Monetary Fund (IMF) managing Director Christine Lagarde smiles during a press conference. JOHN THYS | AFP | Getty Images

Christine Lagarde is set to become the first female president of the European Central Bank later this year. The appointment of the former French finance minister marks only the latest step in a career notable for history-making moments.

1. Lawyer turned finance minister

Christine Lagarde was born in Paris and completed most of her studies in France. She graduated from law school at Paris Nanterre University. After being admitted to the Paris Bar, she joined the multinational law firm Baker McKenzie. Rising through the ranks at her law firm, Lagarde specialized in labor law and anti-trust, as well as mergers and acquisitions.

I know Christine Lagarde as the boss of the IMF, I know her as a tough lady, as somebody who knows what she wants, who is very clear on giving directions. Mark Rutte Dutch prime minister

In 2005, she left Baker McKenzie to jump deep into the world of politics as French minister for foreign trade. Within two years, she was appointed as finance and economy minister of France — becoming the first female chief of finance of a G-7 country.

2. The first IMF female chief

But her upward trajectory didn’t stop there: In 2011, she was nominated managing director of the International Monetary Fund — becoming the first woman to hold that position. She has led the Washington-based institution since then. Lagarde oversaw bailout programs for Greece, Portugal and Ireland during the sovereign debt crisis that peaked in 2001 and 2012. The three countries use the euro currency as members of the euro zone — meaning she knows the economies she’ll soon serve as central bank chief.

3. The first female ECB president

Earlier this month, representatives of 28 European countries selected her as the next president of the ECB, where her primary task will be to control inflation and enforce monetary policy decisions for the bloc. She is due to start her new job on November 1. “I know Christine Lagarde as the boss of the IMF. I know her as a tough lady, as somebody who knows what she wants, who is very clear on giving directions,” Mark Rutte, Dutch Prime Minister, told CNBC. “When you come to her to get a loan, (she is) very tough on conditions, so I wouldn’t like to be the European country who needs to go to the ECB asking for favors.”

4. The Tapie Affair

While finance minister of France, Lagarde reportedly stepped in to end a 14-year court dispute by ordering a panel of judges to arbitrate a case involving businessman Bernard Tapie — a friend of the French President, Nicolas Sarkozy. The case ended with an order on the French state to repay about 400 million euros in damages to Tapie.

Opponents say Lagarde interfered in the justice system. Supporters argue that the government would have faced a bigger bill if the process had dragged on. Lagarde’s subsequent decision not to appeal the panel’s bumper award to Tapie would later see her found guilty of negligence by a court that rules on cases of ministerial misconduct. Lagarde, who could have given up to one-year in prison and a 13,000 euro fine ($14,650), received no punishment.

5. Synchronized swimmer


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: silvia amaro
Keywords: news, cnbc, companies, european, french, things, finance, female, woman, christine, tapie, imf, lagarde, lead, know, minister, law, central, bank, tough


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How Facebook’s Libra could lead you to clean out your wallet

Image Source | Getty ImagesOnce Facebook’s Libra makes it to the cryptocurrency mainstream, there may be a new threat to consumers: Their own bad spending habits. Libra is a proposed cryptocurrency designed by Facebook and operated with a consortium of partners, including payments providers, credit card companies and consumer companies. In a Facebook white paper, the company maintains that Libra won’t be connected to a user’s data for targeted advertisements. Yet the social media giant is planni


Image Source | Getty ImagesOnce Facebook’s Libra makes it to the cryptocurrency mainstream, there may be a new threat to consumers: Their own bad spending habits. Libra is a proposed cryptocurrency designed by Facebook and operated with a consortium of partners, including payments providers, credit card companies and consumer companies. In a Facebook white paper, the company maintains that Libra won’t be connected to a user’s data for targeted advertisements. Yet the social media giant is planni
How Facebook’s Libra could lead you to clean out your wallet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-05  Authors: elizabeth myong, salvador rodriguez
Keywords: news, cnbc, companies, wallet, spending, social, facebook, survey, libra, facebooks, lead, used, money, clean, getty, ross, cryptocurrency


How Facebook's Libra could lead you to clean out your wallet

Image Source | Getty Images

Once Facebook’s Libra makes it to the cryptocurrency mainstream, there may be a new threat to consumers: Their own bad spending habits. Libra is a proposed cryptocurrency designed by Facebook and operated with a consortium of partners, including payments providers, credit card companies and consumer companies. It is set to begin in the first half of 2020. In a Facebook white paper, the company maintains that Libra won’t be connected to a user’s data for targeted advertisements. Yet the social media giant is planning to incorporate Libra payments into its own products used by billions of people, which leads to other concerns, experts say. “For a number of users, that ease of access for a tool that can be used for purchases and retail consumer activity could be dangerous, especially for those who already have a difficult time keeping control of their budget,” said Bruce McClary, vice president of communications for the National Foundation for Credit Counseling. Officials at Facebook did not respond to requests for comment.

More than a third of Americans reported that their spending is influenced by experiences on social media, according to Charles Schwab’s 2019 Modern Wealth Survey. The survey, conducted in February, analyzed how 1,000 Americans manage their money. Social media was ranked the top “bad” influence in terms of money management by survey respondents.

Overspending

Facebook announced its cryptocurrency, called Libra. Chesnot | Getty Images News | Getty Images

Libra could make it easy to overspend because it will be easy to access, said Tyrone Ross Jr., an investment advisor specializing in cryptocurrency in Woodbridge, New Jersey. “Knowing how humans are, if it is easy to do something, they’re going to have at it,” he said. Compared to cryptocurrencies like bitcoin, Libra may be easier to use for everyday exchanges like bill paying or buying groceries, Ross said. Libra was developed as a currency for exchange, and will be less likely to be used as an investment asset like bitcoin, Ross said. It is intended to be a “stable digital cryptocurrency ” and will be “fully backed by a reserve of real assets, ” including bank deposits and short-term government securities, according to the company’s white paper. That means it shouldn’t have wild fluctuations in price like other cryptocurrencies.

Bitcoin is not as appealing for exchange purposes because there is little clarity about how it can be used and it requires technical know-how, Ross said. Efforts to gamify or digitize money will result in an “an increase in spending on mindless purchases”, said Priya Malani, a founding partner at Stash Wealth in New York. She said the convenience and efficiency of payment make it a lot easier to part with your money.

Lending

David Marcus, vice president of messaging products for Facebook Inc., speaks during a Bloomberg Television interview on the sidelines of the Wall Street Journal D.Live global technology conference in Laguna Beach, California, U.S., on Wednesday, Oct. 18, 2017. Patrick T. Fallon | Bloomberg | Getty Images

David Marcus, the leader of Facebook’s Calibra division, which will develop products around the new cryptocurrency, said the company may offer other financial services, including loans, in the future. Lending could be become problematic if consumers borrow to maintain an unsustainable lifestyle, Malani said. “If you aren’t careful, ‘just this one purchase’ can quickly become years of paying back the money you borrowed at damaging, high interest rates,” she said. This year, consumer debt in the U.S. reached an all-time high of $4 trillion, according to the Federal Reserve.

How to manage

A customer, left, hands over U.S. twenty dollar bills as she pays for her purchases in Frankfurt, Kentucky. Luke Sharrett | Bloomberg | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-07-05  Authors: elizabeth myong, salvador rodriguez
Keywords: news, cnbc, companies, wallet, spending, social, facebook, survey, libra, facebooks, lead, used, money, clean, getty, ross, cryptocurrency


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Iran warns ‘unilateralism’ between Saudi Arabia and Russia could lead to the death of OPEC

Iranian Oil Minister Bijan Zanganeh believes “unilateralism” among some OPEC members could ultimately lead to the death of the Middle East-dominated producer group. OPEC is set to debate an extension of oil production cuts when it meets on Monday, before getting the deal endorsed by non-members such as Russia on Tuesday. Russian President Vladimir Putin said over the weekend that the non-OPEC leader had agreed with Saudi Arabia to extend supply cuts by at least six months. Speaking to reporters


Iranian Oil Minister Bijan Zanganeh believes “unilateralism” among some OPEC members could ultimately lead to the death of the Middle East-dominated producer group. OPEC is set to debate an extension of oil production cuts when it meets on Monday, before getting the deal endorsed by non-members such as Russia on Tuesday. Russian President Vladimir Putin said over the weekend that the non-OPEC leader had agreed with Saudi Arabia to extend supply cuts by at least six months. Speaking to reporters
Iran warns ‘unilateralism’ between Saudi Arabia and Russia could lead to the death of OPEC Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: sam meredith
Keywords: news, cnbc, companies, unilateralism, zanganeh, cuts, months, iran, opec, oil, supply, russia, lead, death, production, arabia, warns, producer, saudi


Iran warns 'unilateralism' between Saudi Arabia and Russia could lead to the death of OPEC

Iranian Oil Minister Bijan Zanganeh believes “unilateralism” among some OPEC members could ultimately lead to the death of the Middle East-dominated producer group.

OPEC is set to debate an extension of oil production cuts when it meets on Monday, before getting the deal endorsed by non-members such as Russia on Tuesday.

Russian President Vladimir Putin said over the weekend that the non-OPEC leader had agreed with Saudi Arabia to extend supply cuts by at least six months. Meanwhile, Saudi Energy Minister Khalid al-Falih said Sunday that the deal would most likely be prolonged for nine months and no deeper cuts would be required.

Speaking to reporters in Vienna, Austria on Monday, Zanganeh said: “The important thing to me is that OPEC remains OPEC. It has lost its authority and it is on the verge of collapse.”

“Iran is not going to leave OPEC… But I believe OPEC is going to die if these processes continue,” Zanganeh said, referring to Russia-Saudi decision.

OPEC and its allies have been reducing oil output since 2017 to prevent prices from sliding amid soaring production from the U.S. — which has become the world’s top producer this year ahead of Russia and Saudi Arabia.

The U.S. is not a member of OPEC, nor is it participating in the supply pact. Washington has demanded Riyadh pump more oil to compensate for lower exports from Iran after slapping fresh sanctions on Tehran over its nuclear program.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: sam meredith
Keywords: news, cnbc, companies, unilateralism, zanganeh, cuts, months, iran, opec, oil, supply, russia, lead, death, production, arabia, warns, producer, saudi


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The executive in charge of Facebook’s currency says he’d love somebody with central banking experience to help lead it

David Marcus, the Facebook exec who helped hatch its Libra digital currency project, said a managing director with experience in government and central banking would be a great leader for the independent group that will actually oversee the currency. Last week, Facebook announced Libra, a digital currency the company has been building using blockchain technology. Facebook also announced the Libra Association, a nonprofit organization that will manage the digital currency, and Calibra, a digital


David Marcus, the Facebook exec who helped hatch its Libra digital currency project, said a managing director with experience in government and central banking would be a great leader for the independent group that will actually oversee the currency. Last week, Facebook announced Libra, a digital currency the company has been building using blockchain technology. Facebook also announced the Libra Association, a nonprofit organization that will manage the digital currency, and Calibra, a digital
The executive in charge of Facebook’s currency says he’d love somebody with central banking experience to help lead it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: salvador rodriguez
Keywords: news, cnbc, companies, hed, help, love, members, charge, thing, qa, libra, facebook, somebody, lead, conversations, banks, experience, marcus, currency, digital, executive, facebooks


The executive in charge of Facebook's currency says he'd love somebody with central banking experience to help lead it

David Marcus, vice president of messaging products for Facebook Inc., speaks during a Bloomberg Television interview on the sidelines of the Wall Street Journal D.Live global technology conference in Laguna Beach, California, U.S., on Wednesday, Oct. 18, 2017.

David Marcus, the Facebook exec who helped hatch its Libra digital currency project, said a managing director with experience in government and central banking would be a great leader for the independent group that will actually oversee the currency.

“We need someone who knows how economies tend to work, who understands how to operate in a very complex, decentralized governance type of environment,” Marcus told The Information in a Q&A published on Friday.

“And we need someone who has the gravitas to be able to carry the message on behalf of all the members — the hundred members and more of the association when this thing goes live — rather than have each and every one of us have piecemeal conversations left and right with all of the different governments and regulators that this whole network will be subject to.”

Last week, Facebook announced Libra, a digital currency the company has been building using blockchain technology. Facebook also announced the Libra Association, a nonprofit organization that will manage the digital currency, and Calibra, a digital wallet where Facebook users will be able to hold the currency.

In his Q&A, Marcus also denied a Tuesday New York Times report that banks like Goldman Sachs and JPMorgan Chase had rejected Facebook’s invitation to join the Libra Association.

“I want to absolutely and strongly deny the fact that we’ve approached banks and banks have said no,” Marcus said. “We have had conversations with banks. We still have conversations with banks. And my expectation is that by the time this thing launches next year you will have banks that are going to be members of this.”

You can read the full Q&A on The Information.

WATCH: Here’s how to see which apps have access to your Facebook data — and cut them off


Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: salvador rodriguez
Keywords: news, cnbc, companies, hed, help, love, members, charge, thing, qa, libra, facebook, somebody, lead, conversations, banks, experience, marcus, currency, digital, executive, facebooks


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