Abe’s ruling coalition wins majority in Japan polls, but lacks enough seats for reform

Japan Prime Minister and ruling Liberal Democratic Party President Shinzo Abe at an election campaign rally in Japan. Japan’s Prime Minister Shinzo Abe and his ruling coalition party won a majority in the country’s upper house elections on Sunday — but they failed to secure enough votes needed for Abe’s long-held dream of revising the constitution. Abe’s Liberal Democratic Party and its partner, the Komeito Party, won at least 69 of the 124 seats contested in parliament’s 245-seat upper house —


Japan Prime Minister and ruling Liberal Democratic Party President Shinzo Abe at an election campaign rally in Japan. Japan’s Prime Minister Shinzo Abe and his ruling coalition party won a majority in the country’s upper house elections on Sunday — but they failed to secure enough votes needed for Abe’s long-held dream of revising the constitution. Abe’s Liberal Democratic Party and its partner, the Komeito Party, won at least 69 of the 124 seats contested in parliament’s 245-seat upper house —
Abe’s ruling coalition wins majority in Japan polls, but lacks enough seats for reform Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: weizhen tan
Keywords: news, cnbc, companies, polls, won, abes, upper, seats, needed, majority, japan, coalition, lacks, shinzo, prime, party, minister, wins, ruling, reform


Abe's ruling coalition wins majority in Japan polls, but lacks enough seats for reform

Japan Prime Minister and ruling Liberal Democratic Party President Shinzo Abe at an election campaign rally in Japan.

Japan’s Prime Minister Shinzo Abe and his ruling coalition party won a majority in the country’s upper house elections on Sunday — but they failed to secure enough votes needed for Abe’s long-held dream of revising the constitution.

Abe’s Liberal Democratic Party and its partner, the Komeito Party, won at least 69 of the 124 seats contested in parliament’s 245-seat upper house — with nine seats yet to be called, according to Japanese media reports.

But the coalition fell short of a two-thirds “super majority” — or 85 seats — needed to revise the country’s constitution. The move would allow Japan to further legitimize its military, and end a ban that has kept its armed forces from fighting abroad since 1945, when World War II ended.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: weizhen tan
Keywords: news, cnbc, companies, polls, won, abes, upper, seats, needed, majority, japan, coalition, lacks, shinzo, prime, party, minister, wins, ruling, reform


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Abe’s on track to win at the polls, but he needs to spend more to fix Japan’s economy: Analyst

Japan will go to the polls this weekend, and analysts are expecting the ruling coalition to win again — an outcome that would maintain political stability in the country amid a slowing economy. “According to most polls, it looks like (Liberal Democratic Party) and (Komeito Party) will comfortably retain their majority … the political stability is still going to be there,” Izumi Devalier, head of Japan economics at Bank of America Merrill Lynch, told CNBC on Friday. Incumbent Prime Minister Shi


Japan will go to the polls this weekend, and analysts are expecting the ruling coalition to win again — an outcome that would maintain political stability in the country amid a slowing economy. “According to most polls, it looks like (Liberal Democratic Party) and (Komeito Party) will comfortably retain their majority … the political stability is still going to be there,” Izumi Devalier, head of Japan economics at Bank of America Merrill Lynch, told CNBC on Friday. Incumbent Prime Minister Shi
Abe’s on track to win at the polls, but he needs to spend more to fix Japan’s economy: Analyst Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: weizhen tan
Keywords: news, cnbc, companies, ruling, polls, komeito, party, seats, house, abes, win, japans, political, majority, track, stability, analyst, needs, fix, upper, spend, economy


Abe's on track to win at the polls, but he needs to spend more to fix Japan's economy: Analyst

Japan will go to the polls this weekend, and analysts are expecting the ruling coalition to win again — an outcome that would maintain political stability in the country amid a slowing economy.

“According to most polls, it looks like (Liberal Democratic Party) and (Komeito Party) will comfortably retain their majority … the political stability is still going to be there,” Izumi Devalier, head of Japan economics at Bank of America Merrill Lynch, told CNBC on Friday.

Incumbent Prime Minister Shinzo Abe’s ruling coalition — the LDP and its partner, the Komeito party — currently has the upper house majority of 147 out of 242 upper house seats. There are 124 seats up for grabs in the upper house election on Sunday.


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: weizhen tan
Keywords: news, cnbc, companies, ruling, polls, komeito, party, seats, house, abes, win, japans, political, majority, track, stability, analyst, needs, fix, upper, spend, economy


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CrowdStrike stock jumps after beating expectations in its first earnings report

GOP vote on Trump’s “go back” comments was an effort to absolve… They also voted to absolve themselves, their party and the voters who elected them – like the ones Trump inspired to chant “send her back” at a rally Wednesday in North… Politicsread more


GOP vote on Trump’s “go back” comments was an effort to absolve… They also voted to absolve themselves, their party and the voters who elected them – like the ones Trump inspired to chant “send her back” at a rally Wednesday in North… Politicsread more
CrowdStrike stock jumps after beating expectations in its first earnings report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: kate fazzini annie palmer, kate fazzini, annie palmer
Keywords: news, cnbc, companies, rally, vote, voted, stock, party, jumps, earnings, report, voters, expectations, trump, ones, northpoliticsread, send, crowdstrike, trumps, beating


CrowdStrike stock jumps after beating expectations in its first earnings report

GOP vote on Trump’s “go back” comments was an effort to absolve…

They also voted to absolve themselves, their party and the voters who elected them – like the ones Trump inspired to chant “send her back” at a rally Wednesday in North…

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: kate fazzini annie palmer, kate fazzini, annie palmer
Keywords: news, cnbc, companies, rally, vote, voted, stock, party, jumps, earnings, report, voters, expectations, trump, ones, northpoliticsread, send, crowdstrike, trumps, beating


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GOP vote on Trump’s ‘go back’ comments was an effort to absolve him — and themselves — on racism

President Donald Trump speaks in the Oval Office of the White House in Washington, July 1, 2019. With their votes this week, House Republicans absolved President Donald Trump of racism in calling for four non-white lawmakers to “go back” to other countries. “They’re being asked to condemn an element of the coalition,” said Carlos Curbelo, a Republican House member from Miami until a Democrat defeated him in 2018 midterm elections. ‘, they don’t want to do that,” says former House GOP leadership


President Donald Trump speaks in the Oval Office of the White House in Washington, July 1, 2019. With their votes this week, House Republicans absolved President Donald Trump of racism in calling for four non-white lawmakers to “go back” to other countries. “They’re being asked to condemn an element of the coalition,” said Carlos Curbelo, a Republican House member from Miami until a Democrat defeated him in 2018 midterm elections. ‘, they don’t want to do that,” says former House GOP leadership
GOP vote on Trump’s ‘go back’ comments was an effort to absolve him — and themselves — on racism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: john harwood
Keywords: news, cnbc, companies, gop, comments, vote, effort, president, white, republican, party, 2016, absolve, house, trump, racism, change, trumps, republicans


GOP vote on Trump's 'go back' comments was an effort to absolve him — and themselves — on racism

President Donald Trump speaks in the Oval Office of the White House in Washington, July 1, 2019.

With their votes this week, House Republicans absolved President Donald Trump of racism in calling for four non-white lawmakers to “go back” to other countries.

But not only Trump.

They also voted to absolve themselves, their party and the voters who elected them – like the ones who chanted “send her back” at a rally Wednesday in North Carolina. It took more than just fealty to the president to unite 187 of 191 Republicans against condemning his words.

Analysts across the political spectrum typically cite raw fear as why GOP leaders don’t challenge Trump over behavior that outrages most Americans. Rock-solid support within his party, they argue, means the president can end the careers of Republican dissidents.

“I think he’s racist,” said Mickey Edwards, a Reagan-era GOP lawmaker who once chaired the American Conservative Union. But “a relatively small number of Republicans” share Trump’s racial views, Edwards added, and simple “cowardice” explains the party’s refusal to denounce them.

Yet this week’s furor implicates the character and reputation of many others besides the president. Denouncing Trump’s words as racist, as the House Democratic majority voted to do, means denouncing those chanting rally audiences that all GOP candidates depend on.

“They’re being asked to condemn an element of the coalition,” said Carlos Curbelo, a Republican House member from Miami until a Democrat defeated him in 2018 midterm elections. For a Republican elected official, the blowback would dwarf what Hillary Clinton suffered in 2016 after calling some Trump supporters “deplorables.”

That element of the coalition looms so large because of how the two parties have evolved over the last half-century. After national Democrats decisively embraced the civil rights movement, white conservatives flocked to the GOP, polarizing American politics along racial and partisan lines as well as ideological ones.

That realignment fueled incendiary culture clashes over crime, welfare, affirmation action and immigration long before 2016. Trump accuses Rep. Ilhan Omar, D-Minn., of hating America, offering her as a symbol of Democratic radicalism; three decades before, George H.W. Bush’s Republican presidential campaign vowed to make black criminal Willie Horton the Democratic “running mate,” and sought to suggest superior patriotism by appearing at a flag factory.

Those clashes have grown harder for Republicans to win as education levels rise, attitudes change and non-whites swell as a share of America’s population. And they’ve consistently placed Republicans of whatever motivation – ideological or personal, economic or cultural, foreign policy or domestic affairs – on the defensive.

“Reagan conservatives like me have been called racists – falsely and maliciously – all of our lives,” National Review editor Jay Nordlinger said on Twitter today.

But Trump brings the question about his party into sharper focus than Reagan, Bush or Richard Nixon ever did.

Studies have shown that white populations with the strongest feelings of racial resentment – disproportionately less-educated, lower-income religious conservatives — propelled his 2016 campaign from the start. As president, he has abandoned the decorum of Republican predecessors and stoked their resentments.

Now, GOP lawmakers who have surfed overlapping currents to power fear that acknowledging Trump crossed the line would acknowledge that the rest of the party has, too.

“Whether it’s because they’re pointing the finger at themselves, or someone else saying ‘Aha!’, they don’t want to do that,” says former House GOP leadership aide Doug Heye.

By condemning Trump, “they’re condemning themselves,” adds former GOP House member Vin Weber. “They feel it validates the criticism that’s come their way for a lot of things.”

Weber, who once joined his ally Newt Gingrich in rallying the Republican right behind the “Conservative Opportunity Society,” calls some of that criticism justified. “Racism is a part of it,” he says, though “not all or even primarily.”

But it’s becoming a louder part as America draws closer to the day when white people no longer represent a majority of the population. Census officials expect it to happen by mid-century.

That demographic reality led national Republican leaders in 2013 to call for courting non-whites – and also young, female and gay voters — with a “more inclusive and welcoming” message. Trump won in 2016 with the opposite approach, and aims to do it again in 2020.

That would only delay the reckoning with societal change that the GOP sidestepped again by standing behind Trump this week.

“Parties change or evolve when they’re forced to change,” said Curbelo, a Miami-born Cuban-American. “All Republican leaders understand this is the path we have to pursue. There’s no other way.”

WATCH: Crowds chant ‘send her back’ at Trump campaign rally


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: john harwood
Keywords: news, cnbc, companies, gop, comments, vote, effort, president, white, republican, party, 2016, absolve, house, trump, racism, change, trumps, republicans


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Michigan Rep. Amash says he’s quitting Republican Party

Kamala Harris says busing should be considered, not mandatedSen. Kamala Harris said that busing students should be considered by school districts trying to desegregate their locations — not the federal mandate she appeared to support… Politicsread more


Kamala Harris says busing should be considered, not mandatedSen. Kamala Harris said that busing students should be considered by school districts trying to desegregate their locations — not the federal mandate she appeared to support… Politicsread more
Michigan Rep. Amash says he’s quitting Republican Party Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-04  Authors: jacob pramuk
Keywords: news, cnbc, companies, mandatedsen, kamala, students, party, michigan, harris, supportpoliticsread, amash, trying, considered, school, hes, mandate, busing, rep, republican, quitting


Michigan Rep. Amash says he's quitting Republican Party

Kamala Harris says busing should be considered, not mandated

Sen. Kamala Harris said that busing students should be considered by school districts trying to desegregate their locations — not the federal mandate she appeared to support…

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-07-04  Authors: jacob pramuk
Keywords: news, cnbc, companies, mandatedsen, kamala, students, party, michigan, harris, supportpoliticsread, amash, trying, considered, school, hes, mandate, busing, rep, republican, quitting


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Trump campaign and Republican Party raise massive $105 million haul in the second quarter

President Donald Trump and the Republican Party raised a whopping $105 million in the second quarter as they prepare for a tough bid to keep the White House in 2020. The president’s campaign and his joint fundraising committees with the GOP took in $54 million during the period, the Trump campaign said Tuesday. The Trump campaign ended June with $56 million on hand — a significant store to dip into as he makes his case for a second term in the White House. The Trump campaign will likely push the


President Donald Trump and the Republican Party raised a whopping $105 million in the second quarter as they prepare for a tough bid to keep the White House in 2020. The president’s campaign and his joint fundraising committees with the GOP took in $54 million during the period, the Trump campaign said Tuesday. The Trump campaign ended June with $56 million on hand — a significant store to dip into as he makes his case for a second term in the White House. The Trump campaign will likely push the
Trump campaign and Republican Party raise massive $105 million haul in the second quarter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: jacob pramuk
Keywords: news, cnbc, companies, campaign, raise, massive, quarter, republican, raised, white, presidents, president, haul, second, party, million, trump


Trump campaign and Republican Party raise massive $105 million haul in the second quarter

U.S. President Donald Trump gestures while speaking during a rally in Orlando, Florida, U.S., on Tuesday, June 18, 2019.

President Donald Trump and the Republican Party raised a whopping $105 million in the second quarter as they prepare for a tough bid to keep the White House in 2020.

The president’s campaign and his joint fundraising committees with the GOP took in $54 million during the period, the Trump campaign said Tuesday. Meanwhile, the Republican National Committee raised $51 million.

The massive haul gives Trump and the GOP a head start over the president’s eventual Democratic challenger. Roughly two dozen Democratic candidates are scrapping for support — and dividing donors — in the early days of the party’s 2020 presidential primary.

The Trump campaign ended June with $56 million on hand — a significant store to dip into as he makes his case for a second term in the White House. The Trump campaign will likely push the cash into voter engagement on digital platforms, social media and television as the election draws closer.

For comparison, President Barack Obama’s reelection campaign reported about $46 million in receipts in the second quarter of 2011. It had about $18.8 million on hand at the time.


Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: jacob pramuk
Keywords: news, cnbc, companies, campaign, raise, massive, quarter, republican, raised, white, presidents, president, haul, second, party, million, trump


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Heidi Heitkamp: Republicans have abandoned free trade to support Trump’s ‘radical and reckless’ policies

Historically, the Republican Party has been a reliable and proud advocate for free trade. Today, the Republican Party is no longer the free trade party. It has acquiesced to the radical and reckless trade policies of this administration and no longer has any credibility to tout the virtues of free trade. Yale educated Missouri Senator Josh Hawley offered one of the most confused and twisted rationalizations when he said, “It doesn’t necessarily mean you’re against free trade. It just means you’v


Historically, the Republican Party has been a reliable and proud advocate for free trade. Today, the Republican Party is no longer the free trade party. It has acquiesced to the radical and reckless trade policies of this administration and no longer has any credibility to tout the virtues of free trade. Yale educated Missouri Senator Josh Hawley offered one of the most confused and twisted rationalizations when he said, “It doesn’t necessarily mean you’re against free trade. It just means you’v
Heidi Heitkamp: Republicans have abandoned free trade to support Trump’s ‘radical and reckless’ policies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: heidi heitkamp, kayla tausche
Keywords: news, cnbc, companies, republicans, radical, longer, party, half, dont, free, heidi, trade, support, trumps, tariffs, official, republican, policies, president, reckless, heitkamp


Heidi Heitkamp: Republicans have abandoned free trade to support Trump's 'radical and reckless' policies

Whether it is a year and a half or five and a half years from now, eventually Donald Trump will not be president of the United States. A key legacy of this president will be his ability to unilaterally impose tariffs (i.e. taxes on American customers) for any purpose, at any time, and without Republican opposition.

Historically, the Republican Party has been a reliable and proud advocate for free trade. At the dawn of the century, the official party platform stated “Republicans are confident that the worldwide trade agenda is full of promise. Tariffs should be cut further.”

Today, the Republican Party is no longer the free trade party. It has acquiesced to the radical and reckless trade policies of this administration and no longer has any credibility to tout the virtues of free trade.

That acquiescence is documented in Republican elected officials’ reactions to President Trump’s threatened or imposed tariffs. The response usually starts with the phrase, “I don’t like tariffs but…” Then, insert whatever excuse the official finds most topical, including, “but China cheats,” or “but it’s worth the price,” or “but we need to address the issue at the border.”

Yale educated Missouri Senator Josh Hawley offered one of the most confused and twisted rationalizations when he said, “It doesn’t necessarily mean you’re against free trade. It just means you’ve got to take the long view of what free trade looks like.”

Frank Markiewicz famously said, “Ignore everything a politician says before the word but.” The real reason GOP members of Congress are not passing legislation to stop tariffs from being weaponized is that, when it comes to this president, they have no principles. What they are really saying is, “I don’t like tariffs, but the president can do whatever he wants without criticism from me.”


Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: heidi heitkamp, kayla tausche
Keywords: news, cnbc, companies, republicans, radical, longer, party, half, dont, free, heidi, trade, support, trumps, tariffs, official, republican, policies, president, reckless, heitkamp


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Boris Johnson says chances of no-deal Brexit are ‘a million-to-one’

Conservative Party leadership candidate Boris Johnson gestures as he talks during the launch of his campaign in London, Britain June 12, 2019. Boris Johnson, the favorite to become British prime minister, said the chances of Britain leaving the European Union without a deal are “a million-to-one” even as he repeated his promise to leave the bloc without a deal by the end of October. The winner could face a battle with parliament, which rejected May’s deal three times and is opposed to a no-deal


Conservative Party leadership candidate Boris Johnson gestures as he talks during the launch of his campaign in London, Britain June 12, 2019. Boris Johnson, the favorite to become British prime minister, said the chances of Britain leaving the European Union without a deal are “a million-to-one” even as he repeated his promise to leave the bloc without a deal by the end of October. The winner could face a battle with parliament, which rejected May’s deal three times and is opposed to a no-deal
Boris Johnson says chances of no-deal Brexit are ‘a million-to-one’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-27
Keywords: news, cnbc, companies, think, milliontoone, prime, deal, chances, nodeal, britain, party, boris, race, brexit, minister, johnson


Boris Johnson says chances of no-deal Brexit are 'a million-to-one'

Conservative Party leadership candidate Boris Johnson gestures as he talks during the launch of his campaign in London, Britain June 12, 2019.

Boris Johnson, the favorite to become British prime minister, said the chances of Britain leaving the European Union without a deal are “a million-to-one” even as he repeated his promise to leave the bloc without a deal by the end of October.

The race to replace Prime Minister Theresa May has heated up this week, with the foreign minister Jeremy Hunt stepping up his criticism of Johnson, who has warned that he would execute a so-called no-deal Brexit if he fails to agree a deal with the EU.

More than three years after Britain voted to leave the EU, Brexit is dominating the race to become leader of the Conservative Party and the next prime minister.

The winner could face a battle with parliament, which rejected May’s deal three times and is opposed to a no-deal exit.

At an election hustings on Wednesday, Johnson said the chances of leaving the EU without an agreement are remote because there is was a new mood among leaders on the continent and parliament to pass a revised Brexit deal.

“It is vital that we are prepare for a no-deal outcome if we are going to get the deal that we need. I don’t think that is where we are going to end up, I think it is a million-to-one against,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-06-27
Keywords: news, cnbc, companies, think, milliontoone, prime, deal, chances, nodeal, britain, party, boris, race, brexit, minister, johnson


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The real threat to Britain is a hard-left government, UK trade minister warns

The Conservative Party must unite under its next leader — whoever that may be — in order to avoid the “threat” of a “hard-left” government led by the Labour party, the U.K.’s international trade minister told CNBC Thursday. After years of former leader Tony Blair pushing the Labour party into the center ground, the veteran politician Corbyn took the reins in 2015 and he’s known for being an out-an-out socialist — toward the very left of his party. Fox’s comments come against a backdrop of politi


The Conservative Party must unite under its next leader — whoever that may be — in order to avoid the “threat” of a “hard-left” government led by the Labour party, the U.K.’s international trade minister told CNBC Thursday. After years of former leader Tony Blair pushing the Labour party into the center ground, the veteran politician Corbyn took the reins in 2015 and he’s known for being an out-an-out socialist — toward the very left of his party. Fox’s comments come against a backdrop of politi
The real threat to Britain is a hard-left government, UK trade minister warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-27  Authors: holly ellyatt
Keywords: news, cnbc, companies, warns, told, ruling, uks, britain, minister, party, hardleft, conservative, trade, labour, secretary, leader, real, uk, threat


The real threat to Britain is a hard-left government, UK trade minister warns

The Conservative Party must unite under its next leader — whoever that may be — in order to avoid the “threat” of a “hard-left” government led by the Labour party, the U.K.’s international trade minister told CNBC Thursday.

“We’ll have to come together (as a party) because the real threat to the United Kingdom’s security and prosperity is a hard-left government led by (Labour leader) Jeremy Corbyn — that we must avoid at all costs and that means working together and sticking together as a party,” Liam Fox, the U.K.’s secretary of state for international trade, told CNBC’s Dan Murphy in Dubai.

After years of former leader Tony Blair pushing the Labour party into the center ground, the veteran politician Corbyn took the reins in 2015 and he’s known for being an out-an-out socialist — toward the very left of his party. Fox’s comments come against a backdrop of political change and uncertainty back in the U.K. as the ruling Conservative Party seeks a new leader and prime minister.

Theresa May stepped down as party leader of the ruling Conservative Party in early June and a leadership race is now down to the final candidates — current Foreign Secretary Jeremy Hunt and former Foreign Secretary Boris Johnson. The wider party membership (reportedly of around 160,000 members) will now vote for their preferred candidate in a postal ballot and the result is expected to be announced on July 23.


Company: cnbc, Activity: cnbc, Date: 2019-06-27  Authors: holly ellyatt
Keywords: news, cnbc, companies, warns, told, ruling, uks, britain, minister, party, hardleft, conservative, trade, labour, secretary, leader, real, uk, threat


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Billionaire Warren Buffett denies any tensions with his partner in troubled Kraft Heinz

Berkshire Hathaway Chairman and CEO Warren Buffett is shooting down reports of tensions between him and 3G Capital, the company’s partner in troubled Kraft Heinz. Responding to the reports, Buffett said 3G co-founder Jorge Paulo Lemann is “a good friend,” and noted that Lemann attended Berkshire Hathaway’s annual meeting in Omaha last month with family members. Lemann was spotted at a private party attended by Buffett and hosted by Berkshire board member Walter Scott after the annual meeting. Bu


Berkshire Hathaway Chairman and CEO Warren Buffett is shooting down reports of tensions between him and 3G Capital, the company’s partner in troubled Kraft Heinz. Responding to the reports, Buffett said 3G co-founder Jorge Paulo Lemann is “a good friend,” and noted that Lemann attended Berkshire Hathaway’s annual meeting in Omaha last month with family members. Lemann was spotted at a private party attended by Buffett and hosted by Berkshire board member Walter Scott after the annual meeting. Bu
Billionaire Warren Buffett denies any tensions with his partner in troubled Kraft Heinz Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: becky quick, fred imbert, sam meredith
Keywords: news, cnbc, companies, investigation, partner, buffett, lemann, heinz, month, denies, billionaire, party, reports, troubled, berkshire, warren, kraft, tensions, value


Billionaire Warren Buffett denies any tensions with his partner in troubled Kraft Heinz

Berkshire Hathaway Chairman and CEO Warren Buffett is shooting down reports of tensions between him and 3G Capital, the company’s partner in troubled Kraft Heinz.

Responding to the reports, Buffett said 3G co-founder Jorge Paulo Lemann is “a good friend,” and noted that Lemann attended Berkshire Hathaway’s annual meeting in Omaha last month with family members. Lemann was spotted at a private party attended by Buffett and hosted by Berkshire board member Walter Scott after the annual meeting.

Buffett also said he plans to see Lemann next month at Allen & Co.’s Sun Valley conference and to attend Lemann’s 80th birthday party in August.

Reports of tensions may have been sparked by Kraft Heinz’s underperformance and because of accounting problems at the packaged goods company. The stock has lost more than 50% of its value over the last 12 months. In February, Kraft Heinz announced it was writing down the value of its Kraft and Oscar Meyer brands by $15.4 billion, slashed its dividend and revealed an investigation by the Securities & Exchange Commission into its accounting and procurement procedures. In May, the company said it would restate nearly three years of its financial reports after an internal investigation looking into the charges.


Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: becky quick, fred imbert, sam meredith
Keywords: news, cnbc, companies, investigation, partner, buffett, lemann, heinz, month, denies, billionaire, party, reports, troubled, berkshire, warren, kraft, tensions, value


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