China and Huawei need US more than America needs them in 5G wireless race, say industry insiders

President Donald Trump’s new order effectively blacklisting Huawei, the Chinese telecommunications networking equipment maker and smartphone giant, from the U.S. market will not hurt America in the race to build out next-generation 5G wireless technology, a well-known CEO and a top telecom investment banker who did not want to be identified told CNBC on Friday. CNBC’s Joe Kernen reported on two emails he received from a “well-known CEO” and a “really smart telecom investment banker,” as the disc


President Donald Trump’s new order effectively blacklisting Huawei, the Chinese telecommunications networking equipment maker and smartphone giant, from the U.S. market will not hurt America in the race to build out next-generation 5G wireless technology, a well-known CEO and a top telecom investment banker who did not want to be identified told CNBC on Friday. CNBC’s Joe Kernen reported on two emails he received from a “well-known CEO” and a “really smart telecom investment banker,” as the disc
China and Huawei need US more than America needs them in 5G wireless race, say industry insiders Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: matthew j belvedere
Keywords: news, cnbc, companies, national, industry, banker, say, needs, wellknown, america, investment, chinese, china, wireless, race, need, ceo, huawei, telecom, insiders, war


China and Huawei need US more than America needs them in 5G wireless race, say industry insiders

President Donald Trump’s new order effectively blacklisting Huawei, the Chinese telecommunications networking equipment maker and smartphone giant, from the U.S. market will not hurt America in the race to build out next-generation 5G wireless technology, a well-known CEO and a top telecom investment banker who did not want to be identified told CNBC on Friday.

CNBC’s Joe Kernen reported on two emails he received from a “well-known CEO” and a “really smart telecom investment banker,” as the discussion on “Squawk Box ” turned to the president’s latest salvo in the U.S.-China trade war, a national emergency declaration over threats against American technology.

The move announced Wednesday states, among other requirements, that U.S. firms must seek government approval before doing business with Huawei. The Trump administration alleges that Huawei poses a national security threat because of close ties to the communist Chinese government.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: matthew j belvedere
Keywords: news, cnbc, companies, national, industry, banker, say, needs, wellknown, america, investment, chinese, china, wireless, race, need, ceo, huawei, telecom, insiders, war


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Opposites attract: Even Steve Bannon and Tom Friedman agree Trump is right to attack on China trade

Ex-Trump advisor Steve Bannon and New York Times columnist Tom Friedman, who might seem like ideological opposites, agree on at least one issue: China trade. Bannon, whom diehard Democrats view as the antichrist, and Friedman, who works at what President Donald Trump calls “the failing New York Times,” both feel the president is right to go after Beijing. The country is so polarized politically that the mere mention of Bannon and Friedman being on the same page on anything becomes a watershed ev


Ex-Trump advisor Steve Bannon and New York Times columnist Tom Friedman, who might seem like ideological opposites, agree on at least one issue: China trade. Bannon, whom diehard Democrats view as the antichrist, and Friedman, who works at what President Donald Trump calls “the failing New York Times,” both feel the president is right to go after Beijing. The country is so polarized politically that the mere mention of Bannon and Friedman being on the same page on anything becomes a watershed ev
Opposites attract: Even Steve Bannon and Tom Friedman agree Trump is right to attack on China trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: matthew j belvedere
Keywords: news, cnbc, companies, china, times, president, economic, friedman, attract, right, trump, trade, opposites, bannon, york, tom, steve


Opposites attract: Even Steve Bannon and Tom Friedman agree Trump is right to attack on China trade

Ex-Trump advisor Steve Bannon and New York Times columnist Tom Friedman, who might seem like ideological opposites, agree on at least one issue: China trade.

Bannon, whom diehard Democrats view as the antichrist, and Friedman, who works at what President Donald Trump calls “the failing New York Times,” both feel the president is right to go after Beijing.

While it may seem surprising, the two have agreed on Trump’s China policy for some time.

Friedman, while critical of Trump on many issues, wrote about a year ago that the economic fight with China is “worth having,” adding the president’s “instinct is basically right” to hold the line “before China gets too big.” The country is so polarized politically that the mere mention of Bannon and Friedman being on the same page on anything becomes a watershed event.

“I really agree with so much of what Steve said,” said Friedman, who was guest-hosting CNBC’s “Squawk Box” during the Bannon interview Wednesday morning. “The stakes of this moment, I think, people don’t fully appreciate,” referring to the economic clash of the world’s two biggest superpowers.


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: matthew j belvedere
Keywords: news, cnbc, companies, china, times, president, economic, friedman, attract, right, trump, trade, opposites, bannon, york, tom, steve


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Steve Bannon: ‘No chance’ Trump will back down in China trade war

There is “no chance” President Donald Trump will back down in the U.S. trade war with China, former Trump advisor Steve Bannon told CNBC on Wednesday. The deal that Trump has said China backed out of was not really about trade, Bannon said. “They refused and basically walked away from the deal because they understood that they’ve been running an economic war in this. This is a truce in an economic war, an armistice so to speak, and that they weren’t prepared to do it.” Addressing a question abou


There is “no chance” President Donald Trump will back down in the U.S. trade war with China, former Trump advisor Steve Bannon told CNBC on Wednesday. The deal that Trump has said China backed out of was not really about trade, Bannon said. “They refused and basically walked away from the deal because they understood that they’ve been running an economic war in this. This is a truce in an economic war, an armistice so to speak, and that they weren’t prepared to do it.” Addressing a question abou
Steve Bannon: ‘No chance’ Trump will back down in China trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: matthew j belvedere
Keywords: news, cnbc, companies, china, lighthizer, president, economic, chinese, chance, trump, trade, war, tariffs, bannon, steve


Steve Bannon: 'No chance' Trump will back down in China trade war

“There is no chance that Donald Trump backs down from this. I think he’s looking at the good of people on a global basis,” Bannon said in the “Squawk Box” interview.

Bannon said previous presidents — Bill Clinton , George W. Bush and Barack Obama — passed the buck on addressing and fixing the problems of China’s protectionist economy. But Trump is not shying away from the fight, he added.

“China has been running an economic war against the industrial democracies for now 20 years,” said the hardline ex-White House chief strategist, who helped craft Trump’s nationalist message.

There is “no chance” President Donald Trump will back down in the U.S. trade war with China, former Trump advisor Steve Bannon told CNBC on Wednesday.

Under Trump, Washington has taken a tougher stance on China than his recent predecessors. In addition to disputes around trade and the alleged Chinese theft of U.S. intellectual property, American intelligence chiefs expressed their distrust of Chinese tech giant Huawei and Chinese telecom company ZTE.

The standoff with China “cuts to the core of what the United States is going to be in the future,” Bannon said. “With ‘Made in China 2025,’ ‘one belt-one road,’ and Huawei’s 5G rollout, this is a master plan to become an economic hegemon, ” he added, referring to Chinese policies on its economy and trade.

U.S. officials have repeatedly said the Chinese stock market and economy have suffered more than those in the U.S. from the tariff fight, and will continue to bear the brunt. On Wednesday, China reported surprisingly weaker growth in retail sales and industrial output for April, adding pressure on Beijing to roll out more stimulus as the trade war with the United States escalates.

“We have all the cards,” Bannon said. “The Chinese business model cannot continue. It won’t continue.”

For its part, China’s Communist Party has remained defiant, putting out a rallying cry in state media.

The deal that Trump has said China backed out of was not really about trade, Bannon said. “They refused and basically walked away from the deal because they understood that they’ve been running an economic war in this. And this is not a trade deal. This is a truce in an economic war, an armistice so to speak, and that they weren’t prepared to do it.”

With trade talks at a stalemate, the U.S. is considering putting tariffs on the remaining billions and billions of dollars worth of Chinese goods coming into the U.S. Last week, the Trump administration followed through on its threat and increased duties on $200 billion worth of Chinese products from 10% to 25%. On Monday, in retaliation, China announced plans to raise tariffs, some to as high as 25%, on $60 billion in U.S. goods.

Trump’s tweets and tough public rhetoric aside, negotiators for both sides — led by U.S. Trade Representative Robert Lighthizer and China Vice Premier Liu He — need to get behind closed doors, “take the heat down” and work hard on getting an agreement, Bannon said. “This is not going to take place overnight.”

Addressing a question about whether the Chinese would have rather negotiated with Treasury Secretary Steven Mnuchin than China-hawk Lighthizer, Bannon praised Lighthizer. “There is no gap between Lighthizer and President Trump.”

Since May 5, when Trump surprised investors with tweets threatening higher tariffs on China, the S&P 500 had lost about $1.1 trillion in value — the type of decline that if it were to persist could put a real drag on U.S. economic growth. The index made some of that back with Tuesday’s nearly 1% recovery after Monday’s 2.4% decline. Despite the knock from trade concerns, the S&P 500 was still only 4% away from its May 1 all-time intraday high as of Tuesday’s close, and up more than 20% since the 2018 low on Christmas Eve.

The China dispute certainly makes for strange bedfellows, with Trump facing calls from allies on Wall Street and free-trade conservatives to reach a deal. U.S. stocks opened lower Wednesday. Meanwhile, Democrats including Senate Minority Leader Chuck Schumer are urging the president to extract the most concessions possible from China.

Bannon, a Goldman Sachs alum who became a proponent of nationalism, said he believes the China issue will frame the 2020 presidential campaign in favor of Trump. “This is history in real time. This is the most significant thing that any president can possibly do,” he said, adding that Trump won’t bow to the pressure and make a superficial agreement that doesn’t address all the ways Beijing is cheating economically.

On Tuesday evening, former Goldman CEO Lloyd Blankfein was on the same wavelength as Bannon, tweeting, “Tariffs might be an effective negotiating tool.”

— CNBC digital correspondent in Singapore Yen Nee Lee and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: matthew j belvedere
Keywords: news, cnbc, companies, china, lighthizer, president, economic, chinese, chance, trump, trade, war, tariffs, bannon, steve


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Cramer: ‘I don’t trust this market at all’ because it’s so dependent on Trump tweets

“I don’t trust this market at all,” Cramer warned on “Squawk on the Street” as stock futures pointed to a higher Wall Street open, which in fact came to pass through the morning. Cramer said he was troubled by Trump’s barrage of tweets Tuesday, calling them “a little erratic,” including the one about the Federal Reserve. Trump is “really disturbing the zeitgeist of the stock market,” Cramer said. However, in light of the uncertainty around Trump’s new tweets, Cramer on Tuesday advised investors


“I don’t trust this market at all,” Cramer warned on “Squawk on the Street” as stock futures pointed to a higher Wall Street open, which in fact came to pass through the morning. Cramer said he was troubled by Trump’s barrage of tweets Tuesday, calling them “a little erratic,” including the one about the Federal Reserve. Trump is “really disturbing the zeitgeist of the stock market,” Cramer said. However, in light of the uncertainty around Trump’s new tweets, Cramer on Tuesday advised investors
Cramer: ‘I don’t trust this market at all’ because it’s so dependent on Trump tweets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: matthew j belvedere
Keywords: news, cnbc, companies, trumps, stock, worth, sp, trump, trust, dependent, wall, tweets, cramer, street, dont, market, 500


Cramer: 'I don't trust this market at all' because it's so dependent on Trump tweets

CNBC’s Jim Cramer voiced concern about the staying power of the stock market’s bounce Tuesday following President Donald Trump’s latest tweetstorm on China trade and Monday’s sharp decline.

“I don’t trust this market at all,” Cramer warned on “Squawk on the Street” as stock futures pointed to a higher Wall Street open, which in fact came to pass through the morning. “[Trump] has made it so we got to wait to be able to buy.”

Cramer said he was troubled by Trump’s barrage of tweets Tuesday, calling them “a little erratic,” including the one about the Federal Reserve.

Trump is “really disturbing the zeitgeist of the stock market,” Cramer said. “He should knock the tweets off if he wants the Dow to start going up, at least today.”

On “Mad Money” on Monday evening — after the Dow Jones Industrial Average and the S&P 500 each lost about 2.4% on China’s tariff response to last week’s U.S. hike — Cramer said Wall Street is nearly oversold and investors should get ready to load up on names that can withstand higher tariffs.

However, in light of the uncertainty around Trump’s new tweets, Cramer on Tuesday advised investors to let things shake out, saying there may be a buying opportunity in stocks later in the session.

In late morning trading, the S&P 500 was making up about half of Monday’s losses, which had sent the index down for a total of nearly 5% from its May 1 intraday all-time high. So far in 2019, the S&P 500 has gained about 13% — and since the crushing Christmas Eve 2018 low, the index has soared more than 20%.

On Monday, China said it will raise tariffs, some to as high as 25%, on $60 billion in U.S. goods, in retaliation for the Trump administration’s decision last week to increase duties on $200 billion worth of Chinese products from 10% to 25%.

Meanwhile, the Office of the U.S. Trade Representative is taking steps to prepare to slap tariffs on the remaining billions and billions of dollars worth of Chinese goods coming into the U.S.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: matthew j belvedere
Keywords: news, cnbc, companies, trumps, stock, worth, sp, trump, trust, dependent, wall, tweets, cramer, street, dont, market, 500


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Warren Buffett on Trump’s tough trade negotiations: Sometimes you have to ‘act half crazy’

Billionaire investor Warren Buffett told CNBC on Monday that an escalation of the U.S.-China trade fight would be “very bad” for the whole world. “If we actually have a trade war, it would be bad for the whole world, and could be very bad, depending on the extent of the war,” Buffett said, but added: “There are times in negotiations when you talk tough.” Buffett refused to put odds on how the trade talks would turn out or whether Trump would follow through on his tariff threat: “With some people


Billionaire investor Warren Buffett told CNBC on Monday that an escalation of the U.S.-China trade fight would be “very bad” for the whole world. “If we actually have a trade war, it would be bad for the whole world, and could be very bad, depending on the extent of the war,” Buffett said, but added: “There are times in negotiations when you talk tough.” Buffett refused to put odds on how the trade talks would turn out or whether Trump would follow through on his tariff threat: “With some people
Warren Buffett on Trump’s tough trade negotiations: Sometimes you have to ‘act half crazy’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: matthew j belvedere
Keywords: news, cnbc, companies, warren, war, trade, half, omaha, weekend, threat, act, buffett, bad, tough, trumps, crazy, trump, really, negotiations, way


Warren Buffett on Trump's tough trade negotiations: Sometimes you have to 'act half crazy'

Billionaire investor Warren Buffett told CNBC on Monday that an escalation of the U.S.-China trade fight would be “very bad” for the whole world.

The stock nosedive in premarket trading on President Donald Trump’s weekend threat to increase tariffs on China is “rational,” Buffett said, acknowledging the high stakes of the “dangerous game” being played by the world’s two biggest economic superpowers. “It doesn’t mean it’s a game that shouldn’t be engaged in.”

“If we actually have a trade war, it would be bad for the whole world, and could be very bad, depending on the extent of the war,” Buffett said, but added: “There are times in negotiations when you talk tough.”

Buffett refused to put odds on how the trade talks would turn out or whether Trump would follow through on his tariff threat: “With some people in negotiations, the best technique is to act half crazy.”

Different people negotiate deals in different ways, Buffett noted. He added that the way Trump is negotiating with China is not how he would handle it “at all,” suggesting a more take-or-leave it approach.

“I’ve had a consistent way of negotiating,” Buffett said. “I just say what I’ll do, and I don’t do anything else. People really know that’s what I mean.”

Without mentioning the former real estate dealmaker Trump by name, Buffett said “lots of people in acquisitions … really like to play games” but it takes too long to figure out if a deal is ever achievable. “It would be a huge time waster if we did it” in our business.

The Oracle of Omaha appeared on “Squawk Box” for a wide-ranging interview on Monday, following the weekend festivities at Berkshire Hathaway’s annual shareholder meeting.

The Berkshire chairman and CEO held court on Saturday before a crowd at CHI Health Center in Omaha, Nebraska, talking about the company’s purchase of Amazon shares, and why he stepped in to help finance a potential mega energy deal. He also bashed bitcoin again, calling it a “gambling device. ” Buffett also said any CEO of a bank that needs a government bailout should lose his or her net worth.


Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: matthew j belvedere
Keywords: news, cnbc, companies, warren, war, trade, half, omaha, weekend, threat, act, buffett, bad, tough, trumps, crazy, trump, really, negotiations, way


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Berkshire Hathaway has been buying shares of Amazon: Warren Buffett

Berkshire Hathaway has been buying shares of Amazon. But while Buffett has sung the company’s praises, he’s never bought Amazon shares. So a headline that Berkshire was buying shares likely would spark interest in the markets. “Yeah, I’ve been a fan, and I’ve been an idiot for not buying” Amazon shares, Buffett said. Buffett’s Berkshire Hathaway is working with Bezos’ Amazon and Jamie Dimon at J.P. Morgan on a health venture called Haven.


Berkshire Hathaway has been buying shares of Amazon. But while Buffett has sung the company’s praises, he’s never bought Amazon shares. So a headline that Berkshire was buying shares likely would spark interest in the markets. “Yeah, I’ve been a fan, and I’ve been an idiot for not buying” Amazon shares, Buffett said. Buffett’s Berkshire Hathaway is working with Bezos’ Amazon and Jamie Dimon at J.P. Morgan on a health venture called Haven.
Berkshire Hathaway has been buying shares of Amazon: Warren Buffett Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: becky quick, matthew j belvedere
Keywords: news, cnbc, companies, shares, bought, hathaway, told, amazon, warren, stock, bezos, buying, berkshire, buffett


Berkshire Hathaway has been buying shares of Amazon: Warren Buffett

Berkshire Hathaway has been buying shares of Amazon. But Warren Buffett isn’t the one behind the purchases.

“One of the fellows in the office that manage money … bought some Amazon so it will show up in the 13F” later this month, Buffett told CNBC Thursday, on the eve of the kick off of Berkshire’s annual shareholders meeting in Omaha. Buffett was referring to either Todd Combs or Ted Weschler, who each manage portfolios of more than $13 billion in equities for Berkshire.

Buffett has long been a fan of Amazon and its CEO, Jeff Bezos, praising the company’s dominance and the founder’s business prowess. But while Buffett has sung the company’s praises, he’s never bought Amazon shares. So a headline that Berkshire was buying shares likely would spark interest in the markets.

Indeed, the stock was up 2.5% in Friday’s premarket.

“Yeah, I’ve been a fan, and I’ve been an idiot for not buying” Amazon shares, Buffett said. “But I want you to know it’s no personality changes taking place.”

This isn’t the first time Buffett has lamented about underestimating Bezos and not investing in Amazon years ago.

The Berkshire chairman and CEO told CNBC in 2018: “It’s far surpassed anything I would have dreamt could have been done. Because if I really felt it could have been done, I should have bought it,” adding, “I had no idea that it had the potential. I blew it.”

In 2017, Buffett told CNBC that “stupidity” was to blame for his not seeing Amazon’s potential. “I was impressed by Jeff Bezos early, I never thought he’d pull off what he did, on the scale of what’s happened. It’s changed your behavior, everybody’s behaviors. The remarkable thing is he’s done it in two industries at same time that really don’t have that much connection.” Buffett was referring to Amazon’s dominance in e-commerce and its success in the cloud with Amazon Web Services.

Flash forward two years, revenue at AWS grew 41% in the first three months of 2019, helping Amazon crush overall first-quarter earnings and revenue estimates.

Amazon’s market value was $935 billion as of Thursday’s close. The stock became the second publicly traded U.S. company to eclipse a $1 trillion market capitalization, just a month after Apple.

Buffett has historically invested in technology sparingly, ending a difficult chapter last year in IBM while ramping up his stake in Apple.

Buffett’s Berkshire Hathaway is working with Bezos’ Amazon and Jamie Dimon at J.P. Morgan on a health venture called Haven. The three CEOs hope the partnership, announced in January 2018, will be able to harness the power of their companies to find health-care solutions for their employees that could be used to help reduce health costs for all Americans.

— CNBC’s Matthew J. Belvedere contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: becky quick, matthew j belvedere
Keywords: news, cnbc, companies, shares, bought, hathaway, told, amazon, warren, stock, bezos, buying, berkshire, buffett


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S&P 500 could pop another 15% on top of recent new highs, says closely followed strategist

Wall Street veteran Jim Paulsen believes stocks could continue to surge well past their recent recovery to the all-time highs that were last seen before the late-2018 market collapse. With first-quarter earnings season about halfway done, 77% of companies beat those lower expectations, 6% met and 17% missed. “As we get into summer and start reporting second-quarter earnings, we’ll have not … ‘much better than feared’ but maybe just good, better earnings,” argued Paulsen, saying 3,400 on the S&


Wall Street veteran Jim Paulsen believes stocks could continue to surge well past their recent recovery to the all-time highs that were last seen before the late-2018 market collapse. With first-quarter earnings season about halfway done, 77% of companies beat those lower expectations, 6% met and 17% missed. “As we get into summer and start reporting second-quarter earnings, we’ll have not … ‘much better than feared’ but maybe just good, better earnings,” argued Paulsen, saying 3,400 on the S&
S&P 500 could pop another 15% on top of recent new highs, says closely followed strategist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: matthew j belvedere
Keywords: news, cnbc, companies, highs, recent, closely, paulsen, record, 500, better, months, 15, pop, worry, sp, second, strategist, stocks, followed, earnings, strength


S&P 500 could pop another 15% on top of recent new highs, says closely followed strategist

Wall Street veteran Jim Paulsen believes stocks could continue to surge well past their recent recovery to the all-time highs that were last seen before the late-2018 market collapse.

“The second driver for this rally in the second half of the year” could be “better earnings” in addition to continued strength in the economy, the chief investment strategist at Leuthold Group told CNBC on Monday, following the S&P 500’s fresh all-time closing high Friday. The index Tuesday logged its first record since September. So far in 2019, the index was up more than 10%, including a new intraday high Monday.

Paulsen characterized corporate earnings for the first three months of 2019 as “much better than feared,” pointing out the earnings recession that many were concerned about at the beginning of the year did not and likely won’t materialize. With first-quarter earnings season about halfway done, 77% of companies beat those lower expectations, 6% met and 17% missed.

“As we get into summer and start reporting second-quarter earnings, we’ll have not … ‘much better than feared’ but maybe just good, better earnings,” argued Paulsen, saying 3,400 on the S&P 500 could be a real possibility. That would represent a 15% advance from Friday’s record finish and a whopping 44% premium to the index’s bruising low on Christmas Eve.

Last Monday, Paulsen put out a note that argued the market’s so-called Worry Gauge shows that, despite this year’s strength, investors remain really scared. And, perhaps counterintuitively, that could drive stocks higher.

Looking at stocks’ forward performance since 1970, when the Worry Gauge was in the top quintile, as it is now, the S&P 500 pulled off an 18.48% annualized return within three months, or 4.33% nonannualized, Paulsen wrote. What’s more, there has only been a 25% chance of a loss within 13 weeks, he added.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: matthew j belvedere
Keywords: news, cnbc, companies, highs, recent, closely, paulsen, record, 500, better, months, 15, pop, worry, sp, second, strategist, stocks, followed, earnings, strength


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Rep. Kevin McCarthy says Pelosi confirms Trump take on Mueller probe

McCarthy was reacting to remarks Pelosi made in a Washington Post interview published Monday. But she added she’s “not for impeachment” because Trump is “just not worth” the divisiveness that the country would suffer. Asked Tuesday whether he thought Pelosi was being disingenuous or setting up a strategy to later support a Trump impeachment, McCarthy said he does not think so. He contended that key Democrats who have wanted to impeach Trump are downplaying what they think the Robert Mueller inve


McCarthy was reacting to remarks Pelosi made in a Washington Post interview published Monday. But she added she’s “not for impeachment” because Trump is “just not worth” the divisiveness that the country would suffer. Asked Tuesday whether he thought Pelosi was being disingenuous or setting up a strategy to later support a Trump impeachment, McCarthy said he does not think so. He contended that key Democrats who have wanted to impeach Trump are downplaying what they think the Robert Mueller inve
Rep. Kevin McCarthy says Pelosi confirms Trump take on Mueller probe Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: matthew j belvedere
Keywords: news, cnbc, companies, kevin, house, impeach, impeachment, think, confirms, rep, senate, nancy, probe, trump, mccarthy, president, mueller, pelosi


Rep. Kevin McCarthy says Pelosi confirms Trump take on Mueller probe

House Minority Leader Kevin McCarthy said Tuesday on CNBC that he takes Speaker Nancy Pelosi’s comments about not looking to impeach President Donald Trump as a sign that Democrats realize there’s no case for it.

“I think what Nancy Pelosi, Speaker Pelosi was trying to do, is tell her conference this is the wrong path to take — I believe it’s wrong to do — and to try to slow the train down because they have no basis for impeachment,” the California Republican told “Squawk Box.”

McCarthy was reacting to remarks Pelosi made in a Washington Post interview published Monday. She said Trump is “ethically” and “intellectually unfit” to be president. But she added she’s “not for impeachment” because Trump is “just not worth” the divisiveness that the country would suffer.

If history is any indication, that divisiveness could work against the party that seeks impeachment as Republicans learned two decades ago in Bill Clinton’s second term.

While holding on to their House and Senate majorities in the 1998 midterm election, Republicans had a poor showing at the polls as Democratic voters were invigorated by the GOP-led House campaign to impeach then-President Clinton. A month after the midterms, the House voted to impeach. But in early 1999, the Senate voted not to remove Clinton from office.

Asked Tuesday whether he thought Pelosi was being disingenuous or setting up a strategy to later support a Trump impeachment, McCarthy said he does not think so. He contended that key Democrats who have wanted to impeach Trump are downplaying what they think the Robert Mueller investigation into Russian 2016 election influence and possible Trump campaign ties to Moscow might reveal.

Pelosi told the Post that her goals for 2020 are to keep the House, and flip the Senate and the White House. She did say in the interview that her position not to seek impeachment won’t change “unless there’s something so compelling and overwhelming and bipartisan.”

“Of course Nancy is going to say that, said McCarthy. Many Democrats “wanted to impeach this president the day he won the election,” he said, also pointing to the campaign by Democratic billionaire Tom Steyer to push lawmakers to impeach Trump.


Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: matthew j belvedere
Keywords: news, cnbc, companies, kevin, house, impeach, impeachment, think, confirms, rep, senate, nancy, probe, trump, mccarthy, president, mueller, pelosi


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Billionaire Sam Zell: Ocasio-Cortez wealth redistribution won’t work

Sam Zell, a billionaire businessman and philanthropist, believes the wealth redistribution ideas of far-left Democrats, such as freshman firebrand Rep. Alexandria Ocasio-Cortez, won’t work because Americans would rather earn success than get handouts. Everybody in America wants to succeed,” Zell told CNBC on Wednesday. Everybody wants to contribute. Everybody wants a piece of the pie, rather than wants it given to them.” He’s also co-founder and chairman of Equity Residential, Equity Lifestyle a


Sam Zell, a billionaire businessman and philanthropist, believes the wealth redistribution ideas of far-left Democrats, such as freshman firebrand Rep. Alexandria Ocasio-Cortez, won’t work because Americans would rather earn success than get handouts. Everybody in America wants to succeed,” Zell told CNBC on Wednesday. Everybody wants to contribute. Everybody wants a piece of the pie, rather than wants it given to them.” He’s also co-founder and chairman of Equity Residential, Equity Lifestyle a
Billionaire Sam Zell: Ocasio-Cortez wealth redistribution won’t work Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: matthew j belvedere
Keywords: news, cnbc, companies, zell, sam, equity, bloomberg, everybody, told, run, work, billionaire, rich, america, wants, wealth, ocasiocortez, redistribution, wont


Billionaire Sam Zell: Ocasio-Cortez wealth redistribution won't work

Sam Zell, a billionaire businessman and philanthropist, believes the wealth redistribution ideas of far-left Democrats, such as freshman firebrand Rep. Alexandria Ocasio-Cortez, won’t work because Americans would rather earn success than get handouts.

“Everyone in America wants to be rich. Everybody in America wants to succeed,” Zell told CNBC on Wednesday. “That’s, by the way, what made America great, because everyone wants to move forward. Everybody wants to contribute. Everybody wants a piece of the pie, rather than wants it given to them.”

Looking to narrow the wealth gap in the United States, Ocasio-Cortez — and several candidates vying for the 2020 Democratic presidential nomination, including Sens. Bernie Sanders and Elizabeth Warren — are in favor of taxing the rich more to help pay for services for the greater society.

“Redistributive policy leads to inequality. It’s just the opposite of what you think,” said Zell, who contended that wealth redistribution during the eight years of former President Barack Obama’s administration held the economy back.

An investor who does business all over the globe, Zell said in a “Squawk Box” interview Wednesday that wealth disparities exist everywhere. But he believes the U.S. is one of the world’s most equal economies.

Zell also bases his worldview on what he learned growing up as of the son of Jewish immigrants who landed in America after fleeing Poland right before the Nazis invaded. He went on to amass a net worth of more than $5 billion. He has said in the past that he’s neither Republican nor Democrat, indicating that he tends to be fiscally conservative and socially liberal.

As a boy in Chicago, Zell recalled asking his father, a jewelry wholesaler and real estate investor, why the poor who outnumber the rich don’t just vote them out of office. He said his father told him, “Everybody in America doesn’t want to do anything that would, ‘screw up his chance,’ to make the next move forward.”

Zell was always entrepreneurial.

While in college and law school, he built an apartment management business. He also bought and rehabbed properties. Shortly after spending only four days as a lawyer, he founded in 1968 what would become Equity Group Investments, an investment firm that started in real estate but has since branched out into energy, communications, logistics, manufacturing, transportation and health care. He’s also co-founder and chairman of Equity Residential, Equity Lifestyle and Equity Commonwealth, three publicly traded real estate investment trusts, or REITs.

While he’s been generally supportive of the way President Donald Trump has run the economy, Zell said he was disappointed that fellow billionaire Mike Bloomberg decided not to run for the Democratic presidential nomination.

Bloomberg, who served most of his first two terms as New York City mayor as a Republican and the third as an independent, switched his party affiliation to Democrat in October.

Zell called Bloomberg a “wonderful asset of our country” and the kind of centrist needed to squelch the political divisiveness in the nation.

Zell was in pretty good company yearning for a Bloomberg run. Last month, when the former mayor was still thinking about it, Berkshire Hathaway Chairman and CEO Warren Buffett told CNBC he would support Bloomberg if he were to run for president. The billionaire Buffett said at the time, “I think he would be a very good president.”

On Tuesday, Bloomberg said he decided not to enter the race.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: matthew j belvedere
Keywords: news, cnbc, companies, zell, sam, equity, bloomberg, everybody, told, run, work, billionaire, rich, america, wants, wealth, ocasiocortez, redistribution, wont


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Target CEO Brian Cornell sounds less exuberant about US consumer now

“It’s still a very stable consumer environment. You’re seeing strong consumer confidence, still,” Cornell told CNBC’s “Squawk Box” on Tuesday. But right now, I think we’re seeing a very consistent consumer environment.” Consumer confidence fell again in January as Americans dealt with uncertainty around the partial government shutdown, which turned out to be the longest ever. However, in February, with the shutdown over and stocks sharply rebounding in the opening two months of 2019, consumer co


“It’s still a very stable consumer environment. You’re seeing strong consumer confidence, still,” Cornell told CNBC’s “Squawk Box” on Tuesday. But right now, I think we’re seeing a very consistent consumer environment.” Consumer confidence fell again in January as Americans dealt with uncertainty around the partial government shutdown, which turned out to be the longest ever. However, in February, with the shutdown over and stocks sharply rebounding in the opening two months of 2019, consumer co
Target CEO Brian Cornell sounds less exuberant about US consumer now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: matthew j belvedere
Keywords: news, cnbc, companies, confidence, consumer, ceo, months, market, brian, exuberant, environment, sounds, 2019, target, stocks, strong, cornell


Target CEO Brian Cornell sounds less exuberant about US consumer now

Target chief Brian Cornell tempered his statements about the strength of American shoppers on Tuesday, months after making a bold call that the consumer environment was “perhaps the strongest I’ve seen in my career.”

“It’s still a very stable consumer environment. Consumers are shopping. You’re seeing strong consumer confidence, still,” Cornell told CNBC’s “Squawk Box” on Tuesday.

“Certainly, we’re going to watch it carefully,” Cornell added, referring to consumer buying trends. “It’s going to ebb and flow. But right now, I think we’re seeing a very consistent consumer environment.”

Cornell, who became chairman and CEO of Target in 2014 after more than three decades at other retail and consumer products companies, was interviewed shortly after Target delivered better-than-expected fourth-quarter earnings, revenue and same-store sales growth, as well as a rosier full-year outlook.

Based on shares rising 5 percent on Tuesday, Target was up about 27 percent since its Christmas Eve low, including 15.7 percent in 2019. That compares with the S&P 500’s nearly 19 percent gain since Christmas Eve, with 11.4 percent of that advance coming this year.

In August, when stocks and consumer confidence were climbing, Cornell told analysts, “There’s no doubt that, like others, we’re currently benefiting from a very strong consumer environment — perhaps the strongest I’ve seen in my career.”

Then in late October, Cornell stood by those remarks, telling CNBC he saw no change in how Americans feel about their finances, despite sharp declines in the stock market at the time and evidence that some pockets of the economy may be slowing.

During the October interview, he also acknowledged the need to look at 2019 and beyond due to “some concerns about overall global trends,” but said then that consumer sentiment remained “very high.”

But consumer confidence, as measured by the Conference Board research firm, declined in November and December as stocks tanked in the final three months of 2018. Consumer confidence fell again in January as Americans dealt with uncertainty around the partial government shutdown, which turned out to be the longest ever. However, in February, with the shutdown over and stocks sharply rebounding in the opening two months of 2019, consumer confidence bounced higher.

Throughout the market and consumer confidence slides in late 2018 and rebounds in early 2019, the labor market remained relatively strong. The government releases its latest employment report Friday, with economists expecting 180,000 nonfarm jobs to have been added in February and the unemployment rate dipping to 3.9 percent. The three month nonfarm jobs growth average — January, December and November — with revisions was 241,000.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: matthew j belvedere
Keywords: news, cnbc, companies, confidence, consumer, ceo, months, market, brian, exuberant, environment, sounds, 2019, target, stocks, strong, cornell


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