Starbucks is testing a reusable cup program at London’s Gatwick Airport

Starbucks has launched a month-long trial of a reusable cup program at London’s Gatwick Airport. Customers at its South Terminal location will be able to either request a free reusable cup or pay 5 pence (6 cents) for a paper cup. Last year, Starbucks implemented a paper cup fee at all of its U.K.cafes. The proceeds from this charge have been donated to the U.K. environmental charity Hubbub, which is funding the reusable cup trial and other environmental projects. About 7 million paper cups are


Starbucks has launched a month-long trial of a reusable cup program at London’s Gatwick Airport. Customers at its South Terminal location will be able to either request a free reusable cup or pay 5 pence (6 cents) for a paper cup. Last year, Starbucks implemented a paper cup fee at all of its U.K.cafes. The proceeds from this charge have been donated to the U.K. environmental charity Hubbub, which is funding the reusable cup trial and other environmental projects. About 7 million paper cups are
Starbucks is testing a reusable cup program at London’s Gatwick Airport Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: marc rod, chloe taylor
Keywords: news, cnbc, companies, reuse, reusable, gatwick, cup, airport, trial, environmental, testing, londons, used, program, starbucks, customers, paper, cups


Starbucks is testing a reusable cup program at London's Gatwick Airport

Starbucks has launched a month-long trial of a reusable cup program at London’s Gatwick Airport.

Customers at its South Terminal location will be able to either request a free reusable cup or pay 5 pence (6 cents) for a paper cup. If customers opt for the reusable cup, they will be able to drop it off at five locations throughout the terminal before boarding their flights, the coffee giant announced in a press release Sunday.

Last year, Starbucks implemented a paper cup fee at all of its U.K.cafes. The proceeds from this charge have been donated to the U.K. environmental charity Hubbub, which is funding the reusable cup trial and other environmental projects.

About 7 million paper cups are used at the airport annually, of which about 5.3 million are recycled. Through the new program, about 2,000 reusable cups will be in use at the terminal

“The purpose of working with Hubbub and Gatwick is to help create a new culture of reuse on-the-go by giving customers the option of a reusable cup instead of paper for free,” said Jaz Rabadia, Starbucks U.K. senior manager of energy and sustainability, in a statement. “Our goal is to save 7,000 disposable cups over the course of the month to find out the best ways to drive reuse where it is typically harder to do so – such as airports.”

To hit this goal, 250 customers would have to request reusable cups each day.

Gatwick employees will collect the cups from the drop-off points, wash them, and return them to Starbucks for reuse.

The airport’s sustainability lead, Rachel Thompson, expressed strong support for the trial, which she said fit with Gatwick’s broader environmental goals.

Hubbub CEO Trewin Restorick said an airport is an ideal environment for this trial because it is a closed environment and generally puts out high amounts of paper waste. There are also plans to pursue additional programs.

“What we learn here will provide valuable insight into how to deploy a reusable trial in not only other airports but many other environments,” he said in the press release. “The ambition behind the trial is to help create a new culture of reuse on-the-go and explore how customers respond to dropping their cups back off to be washed and used again.”


Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: marc rod, chloe taylor
Keywords: news, cnbc, companies, reuse, reusable, gatwick, cup, airport, trial, environmental, testing, londons, used, program, starbucks, customers, paper, cups


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Trump officials say China pursuing ‘blame game’ on breakdown of trade talks

U.S. President Donald Trump’s administration said on Monday that China was pursuing a “blame game” in recent public statements and a weekend white paper that misrepresented the trade negotiations between the world’s two largest economies. “Our insistence on detailed and enforceable commitments from the Chinese in no way constitutes a threat to Chinese sovereignty,” USTR and the Treasury said. “Rather, the issues discussed are common to trade agreements and are necessary to address the systemic i


U.S. President Donald Trump’s administration said on Monday that China was pursuing a “blame game” in recent public statements and a weekend white paper that misrepresented the trade negotiations between the world’s two largest economies. “Our insistence on detailed and enforceable commitments from the Chinese in no way constitutes a threat to Chinese sovereignty,” USTR and the Treasury said. “Rather, the issues discussed are common to trade agreements and are necessary to address the systemic i
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Company: cnbc, Activity: cnbc, Date: 2019-06-04
Keywords: news, cnbc, companies, chinese, officials, breakdown, paper, blame, ustr, commitments, trump, trade, china, game, united, states, talks, pursuing, treasury, negotiations, say


Trump officials say China pursuing 'blame game' on breakdown of trade talks

Chinese Vice Premier Liu He (R), US Treasury Secretary Steven Mnuchin (C) and Trade Representative Robert Lighthizer pose before they proceed to their meeting at the Diaoyutai State Guesthouse in Beijing on May 1, 2019.

U.S. President Donald Trump’s administration said on Monday that China was pursuing a “blame game” in recent public statements and a weekend white paper that misrepresented the trade negotiations between the world’s two largest economies.

In a joint statement, the U.S. Trade Representative’s (USTR) office and the U.S. Treasury reiterated their view that China’s negotiators had “backpedaled” on important elements of a deal that had been largely agreed, including on an enforcement provision.

“Our insistence on detailed and enforceable commitments from the Chinese in no way constitutes a threat to Chinese sovereignty,” USTR and the Treasury said. “Rather, the issues discussed are common to trade agreements and are necessary to address the systemic issues that have contributed to persistent and unsustainable trade deficits.”

China on Sunday issued a government policy paper on the U.S.-China trade dispute in which it asserted that the United States bore responsibility for setbacks in the talks, citing three instances in which Washington had backtracked on commitments made during the negotiations.

China’s Vice Commerce Minister Wang Shouwen, a prominent member of Beijing’s negotiating team, said in presenting the paper to the media that it would be impossible for the United States to use “extreme pressure” to force concessions from China.

Acrimonious rhetoric between Beijing and Washington has steadily increased since talks broke down in early May over U.S. accusations that Beijing had backtracked on commitments to codify in law changes to its intellectual property and technology transfer practices to address U.S. demands.

President Donald Trump imposed an increase in tariffs to 25% on a $200 billion list of Chinese goods on May 10, saying that China “broke the deal.” His administration later imposed severe sanctions against Huawei Technologies Co, China’s premier telecommunications equipment firm.

“The United States is disappointed that the Chinese have chosen in the ‘White Paper’ issued (on Sunday) and recent public statements to pursue a blame game misrepresenting the nature and history of trade negotiations between the two countries,” USTR and Treasury said in the statement.

The agencies, which have taken the lead in negotiations for the U.S. side, said that the impetus for the negotiations was

China’s “long history of unfair trade practices,” and U.S. negotiating positions have been consistent throughout the talks.

There have been no talks scheduled since the last round ended in May, and it remains unclear whether Trump and Chinese President Xi Jinping will meet when they both attend the G20 leaders summit later this month in Japan.


Company: cnbc, Activity: cnbc, Date: 2019-06-04
Keywords: news, cnbc, companies, chinese, officials, breakdown, paper, blame, ustr, commitments, trump, trade, china, game, united, states, talks, pursuing, treasury, negotiations, say


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White House will be a ‘tariff museum:’ Editor of Chinese paper trolls Trump over Mexico tariffs

How the Sackler family became nonprofit pariahsThe family behind Purdue Pharma, the makers of OxyContin, has closed down all new funding of nonprofits while it deals with myriad lawsuits related to its role in the opioid…Pharmaceuticalsread more


How the Sackler family became nonprofit pariahsThe family behind Purdue Pharma, the makers of OxyContin, has closed down all new funding of nonprofits while it deals with myriad lawsuits related to its role in the opioid…Pharmaceuticalsread more
White House will be a ‘tariff museum:’ Editor of Chinese paper trolls Trump over Mexico tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: yun li
Keywords: news, cnbc, companies, pariahsthe, related, trolls, family, pharma, nonprofits, sackler, role, oxycontin, house, mexico, paper, purdue, opioidpharmaceuticalsread, editor, tariffs, white, museum, trump, tariff


White House will be a 'tariff museum:' Editor of Chinese paper trolls Trump over Mexico tariffs

How the Sackler family became nonprofit pariahs

The family behind Purdue Pharma, the makers of OxyContin, has closed down all new funding of nonprofits while it deals with myriad lawsuits related to its role in the opioid…

Pharmaceuticals

read more


Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: yun li
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A growing number of Chinese consumers are switching from Apple’s iPhone, paper says

Customers look at products in an Apple store in Beijing on December 11, 2018. Huawei is winning over more and more Apple fans in China as the escalated trade tensions have stoked “nationalist sentiment,” according to the South China Morning Post. China’s consumers are increasingly favoring their domestic brands after the U.S. stepped up its action against Huawei, the paper said. The article cited a few anecdotes where people switched to Huawei smartphones from their beloved iPhones to show their


Customers look at products in an Apple store in Beijing on December 11, 2018. Huawei is winning over more and more Apple fans in China as the escalated trade tensions have stoked “nationalist sentiment,” according to the South China Morning Post. China’s consumers are increasingly favoring their domestic brands after the U.S. stepped up its action against Huawei, the paper said. The article cited a few anecdotes where people switched to Huawei smartphones from their beloved iPhones to show their
A growing number of Chinese consumers are switching from Apple’s iPhone, paper says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: yun li
Keywords: news, cnbc, companies, support, trade, tensions, chinese, store, brands, paper, consumers, number, switched, iphone, switching, winning, apples, growing, huawei, apple, china


A growing number of Chinese consumers are switching from Apple's iPhone, paper says

Customers look at products in an Apple store in Beijing on December 11, 2018.

Huawei is winning over more and more Apple fans in China as the escalated trade tensions have stoked “nationalist sentiment,” according to the South China Morning Post.

China’s consumers are increasingly favoring their domestic brands after the U.S. stepped up its action against Huawei, the paper said. The article cited a few anecdotes where people switched to Huawei smartphones from their beloved iPhones to show their support for the country and Chinese brands.


Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: yun li
Keywords: news, cnbc, companies, support, trade, tensions, chinese, store, brands, paper, consumers, number, switched, iphone, switching, winning, apples, growing, huawei, apple, china


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The trade war is forcing China to ‘rethink economic ties’ to the US

China is exploring more drastic action as a result of its trade fight with the U.S., according to the South China Morning Post. The article was titled, “Donald Trump’s trade war and Huawei ban push China to rethink economic ties with US.” And China is considering cutting natural gas purchases from the U.S. as part of this movement, the paper said. China is now threatening to stop funding an industry that the two countries have done sizable deals in. In 2017, China agreed to fund a natural gas pr


China is exploring more drastic action as a result of its trade fight with the U.S., according to the South China Morning Post. The article was titled, “Donald Trump’s trade war and Huawei ban push China to rethink economic ties with US.” And China is considering cutting natural gas purchases from the U.S. as part of this movement, the paper said. China is now threatening to stop funding an industry that the two countries have done sizable deals in. In 2017, China agreed to fund a natural gas pr
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Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: yun li
Keywords: news, cnbc, companies, war, trade, china, trumps, economic, rethink, morning, paper, huawei, gas, usand, forcing, south, natural, ties


The trade war is forcing China to 'rethink economic ties' to the US

China is exploring more drastic action as a result of its trade fight with the U.S., according to the South China Morning Post.

While China is open to resuming trade talks, “government advisers are now highlighting the risk of sourcing critical supplies from an increasingly hostile US…and are exploring ways for the country to cut its exposure to the US,” the paper said, citing Chinese researchers. The article was titled, “Donald Trump’s trade war and Huawei ban push China to rethink economic ties with US.”

And China is considering cutting natural gas purchases from the U.S. as part of this movement, the paper said.

“The idea that China should buy large amounts of natural gas from the U.S. must be revisited,” Wang Yongzhong, a senior fellow at the Chinese Academy of Social Sciences, a governmental think tank, told the Hong Kong-based newspaper Monday.

The move came after President Donald Trump’s latest action to blacklist Huawei, effectively halting its ability to buy American-made parts and components. China is now threatening to stop funding an industry that the two countries have done sizable deals in. In 2017, China agreed to fund a natural gas project in Alaska worth $43 billion, the South China Morning Post said.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: yun li
Keywords: news, cnbc, companies, war, trade, china, trumps, economic, rethink, morning, paper, huawei, gas, usand, forcing, south, natural, ties


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Starbucks launches UK fund to help recycle coffee cups

Starbucks launched a £1 million ($1.3 million) fund on Thursday to kickstart recycling programs across the U.K. for paper coffee cups. Launched in partnership with environmental charity Hubbub, “The Cup Fund” will support at least 10 large-scale recycling initiatives. Hubbub noted in a press release Thursday that more recycling points specifically for paper coffee cups were needed, as well as clearer communication to help the public recycle more effectively. Starbucks introduced a 5 pence charge


Starbucks launched a £1 million ($1.3 million) fund on Thursday to kickstart recycling programs across the U.K. for paper coffee cups. Launched in partnership with environmental charity Hubbub, “The Cup Fund” will support at least 10 large-scale recycling initiatives. Hubbub noted in a press release Thursday that more recycling points specifically for paper coffee cups were needed, as well as clearer communication to help the public recycle more effectively. Starbucks introduced a 5 pence charge
Starbucks launches UK fund to help recycle coffee cups Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: chloe taylor, nick ansell, pa images, getty images
Keywords: news, cnbc, companies, million, recycle, paper, help, coffee, uk, starbucks, fund, recycling, hubbub, cup, launches, cups


Starbucks launches UK fund to help recycle coffee cups

Starbucks launched a £1 million ($1.3 million) fund on Thursday to kickstart recycling programs across the U.K. for paper coffee cups.

Launched in partnership with environmental charity Hubbub, “The Cup Fund” will support at least 10 large-scale recycling initiatives. It will offer grants from £50,000 up to £100,000 based on individual organizations’ needs, with an aim of helping with the development of long-term infrastructure.

Coffee shops have faced widespread criticism for selling drinks in paper cups that cannot be recycled with ordinary paper and cardboard due to a plastic lining that stops hot drinks from leaking. Hubbub noted in a press release Thursday that more recycling points specifically for paper coffee cups were needed, as well as clearer communication to help the public recycle more effectively.

The fund is open to applications from a range of organizations including local authorities, recycling companies and property owners.

Jaz Rabadia, U.K. senior manager of energy and sustainability at Starbucks, said in a press release that it was a significant step for the coffee giant.

“For us it’s about three things when it comes to cups: getting more customers to bring in a reusable cup when they visit us, recycling those that are used and also looking at alternative materials to plastic that future cups could be made from that we’ll be trialling in London next year.”

Starbucks introduced a 5 pence charge on paper cups in the U.K. last year in an effort to encourage the uptake of reusable cups. All proceeds are donated to Hubbub to carry out environmental projects.

The company also offers instore cup recycling in 350 locations across Britain.

Earlier this month, the BBC reported that independent coffee chain Boston Tea Party saw sales decline by £250,000 after it banned single use cups last summer. The company, which is based in the English city of Bristol, said it usually sold £1 million in takeaway coffees per year but those numbers had fallen by 25%.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: chloe taylor, nick ansell, pa images, getty images
Keywords: news, cnbc, companies, million, recycle, paper, help, coffee, uk, starbucks, fund, recycling, hubbub, cup, launches, cups


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Britain plans social media regulation to battle harmful content

A man holds a smartphone with the icons for social networking apps on the screen. Britain proposed new online safety laws on Monday that would slap penalties on social media companies and technology firms if they fail to protect their users from harmful content. Easy access to damaging material particularly among young people has caused growing concern worldwide and came into the spotlight in Britain after the death of 14-year-old schoolgirl Molly Russell, which her parents said came after she h


A man holds a smartphone with the icons for social networking apps on the screen. Britain proposed new online safety laws on Monday that would slap penalties on social media companies and technology firms if they fail to protect their users from harmful content. Easy access to damaging material particularly among young people has caused growing concern worldwide and came into the spotlight in Britain after the death of 14-year-old schoolgirl Molly Russell, which her parents said came after she h
Britain plans social media regulation to battle harmful content Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08
Keywords: news, cnbc, companies, content, online, britain, harmful, platforms, material, media, regulations, forward, needed, battle, paper, plans, social, regulation


Britain plans social media regulation to battle harmful content

A man holds a smartphone with the icons for social networking apps on the screen.

Britain proposed new online safety laws on Monday that would slap penalties on social media companies and technology firms if they fail to protect their users from harmful content.

Easy access to damaging material particularly among young people has caused growing concern worldwide and came into the spotlight in Britain after the death of 14-year-old schoolgirl Molly Russell, which her parents said came after she had viewed online material on depression and suicide.

Governments across the world are wrestling over how to better control content on social media platforms, often blamed for encouraging abuse, the spread of online pornography, and for influencing or manipulating voters.

Global worries were recently stoked by the live streaming of the mass shooting at a mosque in New Zealand on one of Facebook’s platforms, after which Australia said it would fine social media and web hosting companies and imprison executives if violent content is not removed “expeditiously”.

In a policy paper widely trailed in British media, the government said it would look into possibly using fines, blocking access to websites, and imposing liability on senior tech company management for failing to limit the distribution of harmful content.

It would also set up a regulator to police the rules.

TechUK, an industry trade group, said the paper was a significant step forward, but one which needed to be firmed up during its 12-week consultation. It said some aspects of the government’s approach were too vague.

“It is vital that the new framework is effective, proportionate and predictable,” techUK said in a statement, adding not all concerns could be addressed through regulation.

Facebook said it was looking forward to working with the government to ensure new regulations were effective, repeating its founder Mark Zuckerberg’s line that regulations were needed to have a standard approach across platforms.


Company: cnbc, Activity: cnbc, Date: 2019-04-08
Keywords: news, cnbc, companies, content, online, britain, harmful, platforms, material, media, regulations, forward, needed, battle, paper, plans, social, regulation


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Britain plans social media regulation to battle harmful content

Britain proposed new online safety laws on Monday that would slap penalties on social media companies and technology firms if they fail to protect their users from harmful content. Easy access to damaging material particularly among young people has caused growing concern worldwide and came into the spotlight in Britain after the death of 14-year-old schoolgirl Molly Russell, which her parents said came after she had viewed online material on depression and suicide. Governments across the world


Britain proposed new online safety laws on Monday that would slap penalties on social media companies and technology firms if they fail to protect their users from harmful content. Easy access to damaging material particularly among young people has caused growing concern worldwide and came into the spotlight in Britain after the death of 14-year-old schoolgirl Molly Russell, which her parents said came after she had viewed online material on depression and suicide. Governments across the world
Britain plans social media regulation to battle harmful content Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: getty images
Keywords: news, cnbc, companies, battle, online, social, forward, britain, platforms, paper, material, needed, plans, content, regulation, regulations, harmful, media


Britain plans social media regulation to battle harmful content

Britain proposed new online safety laws on Monday that would slap penalties on social media companies and technology firms if they fail to protect their users from harmful content.

Easy access to damaging material particularly among young people has caused growing concern worldwide and came into the spotlight in Britain after the death of 14-year-old schoolgirl Molly Russell, which her parents said came after she had viewed online material on depression and suicide.

Governments across the world are wrestling over how to better control content on social media platforms, often blamed for encouraging abuse, the spread of online pornography, and for influencing or manipulating voters.

Global worries were recently stoked by the live streaming of the mass shooting at a mosque in New Zealand on one of Facebook’s platforms, after which Australia said it would fine social media and web hosting companies and imprison executives if violent content is not removed “expeditiously”.

In a policy paper widely trailed in British media, the government said it would look into possibly using fines, blocking access to websites, and imposing liability on senior tech company management for failing to limit the distribution of harmful content.

It would also set up a regulator to police the rules.

TechUK, an industry trade group, said the paper was a significant step forward, but one which needed to be firmed up during its 12-week consultation. It said some aspects of the government’s approach were too vague.

“It is vital that the new framework is effective, proportionate and predictable,” techUK said in a statement, adding not all concerns could be addressed through regulation.

Facebook said it was looking forward to working with the government to ensure new regulations were effective, repeating its founder Mark Zuckerberg’s line that regulations were needed to have a standard approach across platforms.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: getty images
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Warren Buffett: ‘This $100 college course gave me the most important degree I have’

To say that Warren Buffett is a wealth of wisdom is an understatement. In getting to know “The Oracle of Omaha,” I learned something incredibly surprising: Up until the age of 20, he had a fear of public speaking. Who would have thought that one of the most successful investors in the world once had a fear of public speaking? During Buffett’s time at Columbia Business School, he saw an ad in the paper for a Dale Carnegie public speaking course for college students. “So again, I saw the ad in the


To say that Warren Buffett is a wealth of wisdom is an understatement. In getting to know “The Oracle of Omaha,” I learned something incredibly surprising: Up until the age of 20, he had a fear of public speaking. Who would have thought that one of the most successful investors in the world once had a fear of public speaking? During Buffett’s time at Columbia Business School, he saw an ad in the paper for a Dale Carnegie public speaking course for college students. “So again, I saw the ad in the
Warren Buffett: ‘This $100 college course gave me the most important degree I have’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: gillian zoe segal, photo credit, daniel acker, bloomberg, getty images, -warren buffett, ceo, berkshire hathaway
Keywords: news, cnbc, companies, gave, warren, paper, degree, course, omaha, 100, say, buffett, college, important, public, getting, successful, went, thought, speaking, saw


Warren Buffett: 'This $100 college course gave me the most important degree I have'

To say that Warren Buffett is a wealth of wisdom is an understatement.

A few years ago, I got the once-in-a-lifetime opportunity to interview him for my book, “Getting There: A Book of Mentors,” which features essays and interviews from the some of the world’s most successful people, as well as their indispensable career and life lessons.

In getting to know “The Oracle of Omaha,” I learned something incredibly surprising: Up until the age of 20, he had a fear of public speaking. “Just the thought of it made me physically ill,” the billionaire shares in his “Getting There” essay. “I would literally throw up.”

Who would have thought that one of the most successful investors in the world once had a fear of public speaking?

The Berkshire Hathaway CEO divulges that he purposely selected courses in college where he didn’t have to stand up in front of the class and arranged his life so that he would never find himself in front of a crowd. If he somehow found himself in that situation, he admits that he could ‘hardly even say’ his own name.

During Buffett’s time at Columbia Business School, he saw an ad in the paper for a Dale Carnegie public speaking course for college students. “I figured it would serve me well,” he recalls. “I went to Midtown, signed up and gave them a check. But after I left, I swiftly stopped payment. I just couldn’t do it. I was that terrified.”

After he graduated, Buffett returned to Omaha and got a job as a salesman of securities. But the problem still lingered: “I knew that I had to be able to speak in front of people,” he writes. “So again, I saw the ad in the paper and went down to sign up; but this time, I handed the instructor $100 in cash. I knew if I gave him the cash I’d show up.”

And he did show up.


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: gillian zoe segal, photo credit, daniel acker, bloomberg, getty images, -warren buffett, ceo, berkshire hathaway
Keywords: news, cnbc, companies, gave, warren, paper, degree, course, omaha, 100, say, buffett, college, important, public, getting, successful, went, thought, speaking, saw


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Elon Musk: ‘Paper money is going away’

“Paper money is going away,” Musk said in a podcast released Tuesday. “Crypto[currency] is a far better way to transfer value than pieces of paper, that’s for sure,” Musk said on the “FYI — For Your Innovation” podcast. “I think one of the downsides of crypto is that it, computationally, it is like quite energy intensive,” Musk said. In the tweet, Musk references, @Jack, Twitter co-founder and CEO Jack Dorsey, who is a proponent of bitcoin. “The world ultimately will have a single currency, the


“Paper money is going away,” Musk said in a podcast released Tuesday. “Crypto[currency] is a far better way to transfer value than pieces of paper, that’s for sure,” Musk said on the “FYI — For Your Innovation” podcast. “I think one of the downsides of crypto is that it, computationally, it is like quite energy intensive,” Musk said. In the tweet, Musk references, @Jack, Twitter co-founder and CEO Jack Dorsey, who is a proponent of bitcoin. “The world ultimately will have a single currency, the
Elon Musk: ‘Paper money is going away’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: catherine clifford, joe skipper
Keywords: news, cnbc, companies, musk, paper, bitcoin, maybe, intensive, away, going, currency, single, quite, elon, money, involved, jack


Elon Musk: 'Paper money is going away'

Silicon Valley billionaire Elon Musk has sounded the death knell for cash. “Paper money is going away,” Musk said in a podcast released Tuesday.

“Crypto[currency] is a far better way to transfer value than pieces of paper, that’s for sure,” Musk said on the “FYI — For Your Innovation” podcast.

In particular, Musk said the technology behind bitcoin is “quite brilliant” and “it seems like there is some merit to etherium and maybe some of the others.”

However, Tesla will not be getting involved with digital currency, because Musk says it’s not a good use of the company’s resources. Plus, creating or mining cryptocurrency takes a lot of computer power, and therefore electricity.

“I think one of the downsides of crypto is that it, computationally, it is like quite energy intensive,” Musk said. “it is very energy intensive to create the incremental bitcoin at this point.”

Though Musk says he has friends that are “really involved in crypto,” in February Musk said he “literally” owns “zero cryptocurrency” other than .25 BTC that someone gave him years ago. (Bitcoin closed trading at $3,924.24 on Tuesday.)

In the tweet, Musk references, @Jack, Twitter co-founder and CEO Jack Dorsey, who is a proponent of bitcoin.

“The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin,” Dorsey told The Times of London in March. It will happen “probably over ten years, but it could go faster,” he said.

See also:

Elon Musk: Moving to Mars will cost less than $500,000, ‘maybe even below $100,000’

Elon Musk: This is the ‘why’ of Tesla

Meet Tom Mueller: From Idaho logger to SpaceX co-founder who makes Elon Musk’s rockets lift off


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: catherine clifford, joe skipper
Keywords: news, cnbc, companies, musk, paper, bitcoin, maybe, intensive, away, going, currency, single, quite, elon, money, involved, jack


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