The winner of Warren Buffett’s March Madness office pool could get $1 million a year for life

Your office’s March Madness pool most likely pales in comparison to what billionaire Warren Buffett is offering his employees if they can predict which teams make this year’s Sweet 16 of the men’s NCAA tournament. Buffett confirmed that the multimillion-dollar challenge is back on this year in an interview with CNBC in February. “All you have to do is get through the first bracket to win $1 million, assuming nobody else wins at the same time—then you split the million,” Buffett told Becky Quick


Your office’s March Madness pool most likely pales in comparison to what billionaire Warren Buffett is offering his employees if they can predict which teams make this year’s Sweet 16 of the men’s NCAA tournament. Buffett confirmed that the multimillion-dollar challenge is back on this year in an interview with CNBC in February. “All you have to do is get through the first bracket to win $1 million, assuming nobody else wins at the same time—then you split the million,” Buffett told Becky Quick
The winner of Warren Buffett’s March Madness office pool could get $1 million a year for life Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: tom huddleston jr, getty images
Keywords: news, cnbc, companies, warren, employees, perfect, prize, life, buffetts, pool, buffett, office, sweet, bracket, madness, split, winner, tournament, million


The winner of Warren Buffett's March Madness office pool could get $1 million a year for life

Your office’s March Madness pool most likely pales in comparison to what billionaire Warren Buffett is offering his employees if they can predict which teams make this year’s Sweet 16 of the men’s NCAA tournament.

The investor known as the “Oracle of Omaha” has a penchant for making multimillion-dollar bets that test his employees’ predictive abilities, and this year’s no different. Buffett is once again offering to pay $1 million a year for life to any of the employee of Berkshire Hathaway or its subsidiaries who accurately predicts the results of the first week of March Madness games.

Buffett confirmed that the multimillion-dollar challenge is back on this year in an interview with CNBC in February. Unfortunately for most basketball fans, the billionaire’s offer is only available to the roughly 375,000 people who either work for Buffett’s investment firm, Berkshire Hathaway, or one of that company’s various subsidiaries (including insurance company Geico and fast-food chain Dairy Queen).

“All you have to do is get through the first bracket to win $1 million, assuming nobody else wins at the same time—then you split the million,” Buffett told Becky Quick on CNBC’s “Squawk Box.”

If more than one employee manages to fill out a March Madness bracket that correctly picks the college teams that reach this year’s Sweet 16, then those winners will split the $1 million prize each year for the rest of their lives, Buffett explained. And, if no one submits a perfect bracket for the first weekend of March Madness, then whoever lasts the longest into the tournament without missing a pick will win $100,000 (or split that amount in the case of multiple winners).

Buffett first offered a big March Madness prize in 2014, with a whopping $1 billion offer to the public (not just his employees) for anyone with a perfect bracket all the way through the NCAA tournament. Unsurprisingly, no one claimed that prize, since the odds of picking a perfect bracket are roughly one in 2.4 trillion, according to one estimate. (In fact, according to the NCAA, no one has ever officially picked a perfect bracket and the best anyone has ever done is to predict the first 39 games of the 67-game tournament, in 2017.)

However, in recent years, Buffett has tried to make his March Madness challenge a little bit easier (you only have to be perfect up to the Sweet 16, instead of the entire tournament) while limiting the contest to his many employees. Still, no one has yet claimed the big prize from Buffett.


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: tom huddleston jr, getty images
Keywords: news, cnbc, companies, warren, employees, perfect, prize, life, buffetts, pool, buffett, office, sweet, bracket, madness, split, winner, tournament, million


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Macron’s Africa visit reveals determination to weaken China’s grip on the continent

French President Emmanuel Macron embarked on a four-day charm offensive across the Horn of Africa last week, stopping off in Djibouti, Ethiopia, and Kenya. The trip is largely seen as a bid to cement new ties in a region where China’s influence has been growing fast. Accompanied by some of France’s corporate giants­ — including Danone, EDF, GE Alstom and Total Group — Macron’s message was quite clear. Twitter was flooded with adverse reactions to Macron’s visit. One Tweet read: “People like Macr


French President Emmanuel Macron embarked on a four-day charm offensive across the Horn of Africa last week, stopping off in Djibouti, Ethiopia, and Kenya. The trip is largely seen as a bid to cement new ties in a region where China’s influence has been growing fast. Accompanied by some of France’s corporate giants­ — including Danone, EDF, GE Alstom and Total Group — Macron’s message was quite clear. Twitter was flooded with adverse reactions to Macron’s visit. One Tweet read: “People like Macr
Macron’s Africa visit reveals determination to weaken China’s grip on the continent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-16  Authors: chanel monteine, ludovic marin, afp, getty images, yasuyoshi chiba afp getty images, pool, getty images news
Keywords: news, cnbc, companies, grip, kenyatta, africa, series, weaken, macrons, chinas, president, determination, continent, macron, including, french, reveals, visit, kenyan, trip


Macron's Africa visit reveals determination to weaken China's grip on the continent

French President Emmanuel Macron embarked on a four-day charm offensive across the Horn of Africa last week, stopping off in Djibouti, Ethiopia, and Kenya. The trip is largely seen as a bid to cement new ties in a region where China’s influence has been growing fast.

In the first visit by a French president to Kenya since its independence in 1963, Macron concluded his trip with a bang, announcing an estimated 3 billion euros ($3.4 billion) worth of deals with the East African powerhouse.

While specifics remain obscure, Kenyan President Uhuru Kenyatta confirmed in a statement Thursday that an agreement with a “French consortium” had been reached on a series of major works to boost Kenya’s transport network, including the construction of a commuter rail line linking the Kenyan capital with its central railway station.

Accompanied by some of France’s corporate giants­ — including Danone, EDF, GE Alstom and Total Group — Macron’s message was quite clear.

“The intent is indeed to open a new partnership in economy,” Macron said in a joint press conference with Kenyatta on Wednesday. “Now what we want to do, especially with our delegation of companies, is to be part of your new growth agenda…This is how France could be a long term, credible economic partner,” he added.

Both sides expressed keen intent to turn this visit into a long-term affair with cooperation spanning beyond business and including a series of environmental and educational alignments of their interests.

However, some of the local reaction was less enthusiastic. Twitter was flooded with adverse reactions to Macron’s visit. One Tweet read: “People like Macron are the real stumbling blocks to the development in Africa”.


Company: cnbc, Activity: cnbc, Date: 2019-03-16  Authors: chanel monteine, ludovic marin, afp, getty images, yasuyoshi chiba afp getty images, pool, getty images news
Keywords: news, cnbc, companies, grip, kenyatta, africa, series, weaken, macrons, chinas, president, determination, continent, macron, including, french, reveals, visit, kenyan, trip


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Why we shouldn’t be wringing our hands over this pause in the stock market

Leadership groups like semiconductors, the Russell 2000, banks and industrials have been weaker in the last couple weeks and with good reason. The key to getting markets moving again is to stop the decline in earnings estimates. As of today, the estimate is calling for earnings to be down 1.3 percent. So, the rate of decline is slowing and it is likely earnings will end up positive for the first quarter. If the estimates are calling for earnings to be down 1.3 percent right now, and if they stay


Leadership groups like semiconductors, the Russell 2000, banks and industrials have been weaker in the last couple weeks and with good reason. The key to getting markets moving again is to stop the decline in earnings estimates. As of today, the estimate is calling for earnings to be down 1.3 percent. So, the rate of decline is slowing and it is likely earnings will end up positive for the first quarter. If the estimates are calling for earnings to be down 1.3 percent right now, and if they stay
Why we shouldn’t be wringing our hands over this pause in the stock market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: bob pisani, brendan mcdermid, getty images, drew angerer, david a grogan, mark schiefelbein, pool, thomas peter
Keywords: news, cnbc, companies, weeks, stock, russell, estimates, earnings, semiconductors, shouldnt, likely, market, markets, slipped, wringing, calling, range, pause, hands


Why we shouldn't be wringing our hands over this pause in the stock market

Once again, we are seeing the usual hand-wringing over the fact that after a 17 percent rally from the December low, some of the stock market’s sector leaders are meeting resistance.

Leadership groups like semiconductors, the Russell 2000, banks and industrials have been weaker in the last couple weeks and with good reason. The markets are no longer cheap. Since Feb. 24, the S&P 500 is down 1.5 percent. In the same period, semiconductors are down 2.7 percent, the Russell 2000 has slipped 3.9 percent, banks are down 4 percent and industrial stocks have shed 2.6 percent.

The key to getting markets moving again is to stop the decline in earnings estimates. There are signs that is happening.

On Jan. 1, first quarter earnings were expected to be up 5.3 percent, but that forecast collapsed over the next six weeks. In early February, the revised forecast was looking for earnings to be up 0.7 percent, and later that slipped to an estimate calling for earnings to be down 0.5 percent. As of today, the estimate is calling for earnings to be down 1.3 percent. So, the rate of decline is slowing and it is likely earnings will end up positive for the first quarter.

That’s because corporations typically provide conservative guidance and beat estimates by a roughly 3-percentage-point margin. If the estimates are calling for earnings to be down 1.3 percent right now, and if they stay in this range, it’s likely earnings will be up somewhere in the 1 percent range.


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: bob pisani, brendan mcdermid, getty images, drew angerer, david a grogan, mark schiefelbein, pool, thomas peter
Keywords: news, cnbc, companies, weeks, stock, russell, estimates, earnings, semiconductors, shouldnt, likely, market, markets, slipped, wringing, calling, range, pause, hands


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Here’s what to expect from China’s key government meeting which kicks off this week

Beijing is set to announce its economic growth target and endorse new rules around foreign investment in the next two weeks during its major annual parliamentary meeting: the National People’s Congress. The gathering of nearly 3,000 representatives from different strata of Chinese society is typically ceremonial in nature. The real power in the country lies in the Communist Party and its Politburo Standing Committee, headed right now by President Xi Jinping. But announcements made during the con


Beijing is set to announce its economic growth target and endorse new rules around foreign investment in the next two weeks during its major annual parliamentary meeting: the National People’s Congress. The gathering of nearly 3,000 representatives from different strata of Chinese society is typically ceremonial in nature. The real power in the country lies in the Communist Party and its Politburo Standing Committee, headed right now by President Xi Jinping. But announcements made during the con
Here’s what to expect from China’s key government meeting which kicks off this week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: evelyn cheng, lintao zhang, pool, getty images
Keywords: news, cnbc, companies, weeks, key, xi, heres, peoples, chinas, morning, congress, expect, kicks, meeting, week, trade, national, chinese


Here's what to expect from China's key government meeting which kicks off this week

Beijing is set to announce its economic growth target and endorse new rules around foreign investment in the next two weeks during its major annual parliamentary meeting: the National People’s Congress.

The gathering of nearly 3,000 representatives from different strata of Chinese society is typically ceremonial in nature. The real power in the country lies in the Communist Party and its Politburo Standing Committee, headed right now by President Xi Jinping. But announcements made during the congress can shed some light on government policy.

This year’s meeting also takes place as the international legal battle over Chinese telecom giant Huawei intensifies, and U.S.-China trade negotiations reach a critical point, with some reports saying a trade deal is close at hand.

The second session of the 13th National People’s Congress (NPC) will kick off on Tuesday morning and end next week Friday (Mar. 5-15), a spokesperson announced during a press conference Monday morning.


Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: evelyn cheng, lintao zhang, pool, getty images
Keywords: news, cnbc, companies, weeks, key, xi, heres, peoples, chinas, morning, congress, expect, kicks, meeting, week, trade, national, chinese


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Bumble is launching a women-first networking tool that lets recruiters exclude men

Bumble is launching a women-only filter for its professional networking tool, Bumble Bizz. The Women in Bizz feature, which can be turned on or off in app settings, excludes men from a user’s pool of potential connections. The idea is to help a traditionally underrepresented workforce connect and build support systems outside the office. Bumble Bizz, launched in late 2017, is often used by recruiters or hiring managers to find new talent. Limiting the potential pool could help women compete for


Bumble is launching a women-only filter for its professional networking tool, Bumble Bizz. The Women in Bizz feature, which can be turned on or off in app settings, excludes men from a user’s pool of potential connections. The idea is to help a traditionally underrepresented workforce connect and build support systems outside the office. Bumble Bizz, launched in late 2017, is often used by recruiters or hiring managers to find new talent. Limiting the potential pool could help women compete for
Bumble is launching a women-first networking tool that lets recruiters exclude men Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: sara salinas, getty images, source
Keywords: news, cnbc, companies, tool, traditionally, help, build, launching, recruiters, womenfirst, bumble, bizz, womenonly, pool, lets, exclude, potential, men, networking, women


Bumble is launching a women-first networking tool that lets recruiters exclude men

Bumble is launching a women-only filter for its professional networking tool, Bumble Bizz.

The Women in Bizz feature, which can be turned on or off in app settings, excludes men from a user’s pool of potential connections. The idea is to help a traditionally underrepresented workforce connect and build support systems outside the office.

The tool is a sort of extension of Bumble’s core women-first mission. The popular dating app lets women make the first move and message their romantic matches first. Now it’s helping traditionally outnumbered female employees build out a women-only network.

“Representation is critically important for women, especially in traditionally male dominated industries,” CEO Whitney Wolfe Herd said in a statement to CNBC. “We’re helping women connect with other women to show them what’s possible and give them resources as they build their careers.”

Bumble Bizz, launched in late 2017, is often used by recruiters or hiring managers to find new talent. Limiting the potential pool could help women compete for jobs in male-dominated industries.

“We hope women embrace the opportunity to help foster each others’ development and ask for the time they may not be getting in the work place,” the company said in a statement.

WATCH: Bumble’s new Bizz redefining how we think about networking: CEO


Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: sara salinas, getty images, source
Keywords: news, cnbc, companies, tool, traditionally, help, build, launching, recruiters, womenfirst, bumble, bizz, womenonly, pool, lets, exclude, potential, men, networking, women


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Bumble is launching a women-first networking tool that lets recruiters exclude men

Bumble is launching a women-only filter for its professional networking tool, Bumble Bizz. The Women in Bizz feature, which can be turned on or off in app settings, excludes men from a user’s pool of potential connections. The idea is to help a traditionally underrepresented workforce connect and build support systems outside the office. Bumble Bizz, launched in late 2017, is often used by recruiters or hiring managers to find new talent. Limiting the potential pool could help women compete for


Bumble is launching a women-only filter for its professional networking tool, Bumble Bizz. The Women in Bizz feature, which can be turned on or off in app settings, excludes men from a user’s pool of potential connections. The idea is to help a traditionally underrepresented workforce connect and build support systems outside the office. Bumble Bizz, launched in late 2017, is often used by recruiters or hiring managers to find new talent. Limiting the potential pool could help women compete for
Bumble is launching a women-first networking tool that lets recruiters exclude men Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: sara salinas, getty images, source
Keywords: news, cnbc, companies, tool, traditionally, help, build, launching, recruiters, womenfirst, bumble, bizz, womenonly, pool, lets, exclude, potential, men, networking, women


Bumble is launching a women-first networking tool that lets recruiters exclude men

Bumble is launching a women-only filter for its professional networking tool, Bumble Bizz.

The Women in Bizz feature, which can be turned on or off in app settings, excludes men from a user’s pool of potential connections. The idea is to help a traditionally underrepresented workforce connect and build support systems outside the office.

The tool is a sort of extension of Bumble’s core women-first mission. The popular dating app lets women make the first move and message their romantic matches first. Now it’s helping traditionally outnumbered female employees build out a women-only network.

“Representation is critically important for women, especially in traditionally male dominated industries,” CEO Whitney Wolfe Herd said in a statement to CNBC. “We’re helping women connect with other women to show them what’s possible and give them resources as they build their careers.”

Bumble Bizz, launched in late 2017, is often used by recruiters or hiring managers to find new talent. Limiting the potential pool could help women compete for jobs in male-dominated industries.

“We hope women embrace the opportunity to help foster each others’ development and ask for the time they may not be getting in the work place,” the company said in a statement.

WATCH: Bumble’s new Bizz redefining how we think about networking: CEO


Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: sara salinas, getty images, source
Keywords: news, cnbc, companies, tool, traditionally, help, build, launching, recruiters, womenfirst, bumble, bizz, womenonly, pool, lets, exclude, potential, men, networking, women


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North Korea is threat even if Trump ends Korean War at summit: Experts

There’s a possibility that U.S. President Donald Trump and North Korean leader Kim Jong Un might declare an end to the Korean War at this week’s summit — but experts warn that the move could have “real political consequences” for the U.S., and South Korea will still have to keep the North in check. Ending the war does not negate the fact that North Korea “remains as dangerous a threat today as it was on the first day of the Trump administration,” said Abraham Denmark, director of the Asia progra


There’s a possibility that U.S. President Donald Trump and North Korean leader Kim Jong Un might declare an end to the Korean War at this week’s summit — but experts warn that the move could have “real political consequences” for the U.S., and South Korea will still have to keep the North in check. Ending the war does not negate the fact that North Korea “remains as dangerous a threat today as it was on the first day of the Trump administration,” said Abraham Denmark, director of the Asia progra
North Korea is threat even if Trump ends Korean War at summit: Experts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: weizhen tan, pyeongyang press corps, pool, getty images, afp
Keywords: news, cnbc, companies, threat, korean, war, declare, trump, north, korea, south, end, ended, experts, kim, summit, ends


North Korea is threat even if Trump ends Korean War at summit: Experts

There’s a possibility that U.S. President Donald Trump and North Korean leader Kim Jong Un might declare an end to the Korean War at this week’s summit — but experts warn that the move could have “real political consequences” for the U.S., and South Korea will still have to keep the North in check.

Ending the war does not negate the fact that North Korea “remains as dangerous a threat today as it was on the first day of the Trump administration,” said Abraham Denmark, director of the Asia program at the Woodrow Wilson International Center for Scholars.

South Korea’s presidential office said on Monday that the U.S. and North Korea could agree to declare the end of the Korean War when Trump and Kim meet this week for their second face-to face meeting in Vietnam.

Seoul and Pyongyang are technically still at war today.

The Korean War began in 1950 when the North invaded the South. It ended in 1953 with an armistice — not a peace treaty, which means the war has not ended even if fighting has ceased. Since then, the U.S. has maintained a robust military presence in the South, in the form of tens of thousands of troops.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: weizhen tan, pyeongyang press corps, pool, getty images, afp
Keywords: news, cnbc, companies, threat, korean, war, declare, trump, north, korea, south, end, ended, experts, kim, summit, ends


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Chinese stocks rocketed higher on Trump’s trade tweet, but a deal isn’t a sure thing

U.S. President Donald Trump and China’s state-run news agency Xinhua both announced “significant progress” from the last week of trade negotiations. Encouragingly, both sides specifically mentioned the issues of technology transfer, intellectual property protection, currency, services and agriculture. Still, the U.S. and China will need to overcome significant hurdles if they’re to ink a deal resolving their long-term disagreements. “Assuming both sides make additional progress, we will be plann


U.S. President Donald Trump and China’s state-run news agency Xinhua both announced “significant progress” from the last week of trade negotiations. Encouragingly, both sides specifically mentioned the issues of technology transfer, intellectual property protection, currency, services and agriculture. Still, the U.S. and China will need to overcome significant hurdles if they’re to ink a deal resolving their long-term disagreements. “Assuming both sides make additional progress, we will be plann
Chinese stocks rocketed higher on Trump’s trade tweet, but a deal isn’t a sure thing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: evelyn cheng, mark schiefelbein, pool, -chris rogers, research analyst at panjiva
Keywords: news, cnbc, companies, chinese, trump, sides, think, good, higher, rocketed, china, trade, stocks, progress, deal, trumps, isnt, president, significant, sure, thing, xinhua


Chinese stocks rocketed higher on Trump's trade tweet, but a deal isn't a sure thing

U.S. President Donald Trump and China’s state-run news agency Xinhua both announced “significant progress” from the last week of trade negotiations.

Encouragingly, both sides specifically mentioned the issues of technology transfer, intellectual property protection, currency, services and agriculture. Still, the U.S. and China will need to overcome significant hurdles if they’re to ink a deal resolving their long-term disagreements.

Trump said in a Sunday evening Twitter post he would delay an increase in tariffs on Chinese exports to the U.S. that was originally scheduled for March 1. “Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement,” Trump tweeted. “A very good weekend for U.S. & China!”

Chinese stocks rallied following the news. The Shanghai composite soared 5.6 percent, sending the index back into bull market territory, or up more than 20 percent from a low touched in early January.

“In general it’s perceived as very positive,” Wang Huiyao, an advisor to the Chinese government and the president of Beijing-based think tank Center for China and Globalization, said in a phone interview on Monday. “If people think this is good for the country, the government can rally support (and be) more conciliatory, more cooperative.”

WATCH: The U.S. and China are fighting for global power


Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: evelyn cheng, mark schiefelbein, pool, -chris rogers, research analyst at panjiva
Keywords: news, cnbc, companies, chinese, trump, sides, think, good, higher, rocketed, china, trade, stocks, progress, deal, trumps, isnt, president, significant, sure, thing, xinhua


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China’s Xi urges financial risk prevention while seeking stable growth

China should seek stable development of its economy while not forgetting to fend off risks to its financial system, Chinese President Xi Jinping said, state news agency Xinhua reported on Saturday. China’s economy is growing at its slowest pace in almost 30 years, spurring policymakers to bolster growth by easing credit conditions and cutting taxes. Preventing and resolving financial risks, especially systemic financial risks, is a fundamental task, the agency cited Xi as telling a study session


China should seek stable development of its economy while not forgetting to fend off risks to its financial system, Chinese President Xi Jinping said, state news agency Xinhua reported on Saturday. China’s economy is growing at its slowest pace in almost 30 years, spurring policymakers to bolster growth by easing credit conditions and cutting taxes. Preventing and resolving financial risks, especially systemic financial risks, is a fundamental task, the agency cited Xi as telling a study session
China’s Xi urges financial risk prevention while seeking stable growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-23  Authors: thomas peter, pool, getty images
Keywords: news, cnbc, companies, past, urges, risks, financial, xi, risk, china, economy, growth, prevention, seeking, policy, stable, chinas


China's Xi urges financial risk prevention while seeking stable growth

China should seek stable development of its economy while not forgetting to fend off risks to its financial system, Chinese President Xi Jinping said, state news agency Xinhua reported on Saturday.

China’s economy is growing at its slowest pace in almost 30 years, spurring policymakers to bolster growth by easing credit conditions and cutting taxes.

“It is necessary to focus on preventing risks on the basis of steady growth, while strengthening the countercyclical adjustment of fiscal policy and monetary policy and ensuring that the economy operates in a reasonable range,” Xi said.

Preventing and resolving financial risks, especially systemic financial risks, is a fundamental task, the agency cited Xi as telling a study session for senior Communist Party officials on Friday.

On Wednesday, Premier Li Keqiang reiterated that China would not resort to “flood-like” stimulus such as it unleashed in past downturns.

But after a spate of weak data, investors are asking if Beijing needs to speed or boost support to reduce the risk of a sharper slowdown. Until now, China has refrained from cutting benchmark interest rates to spur the slowing economy, which would ease financing costs but risk adding to a mountain of debt.

To free up more funds for lending to small and private businesses, the central bank has cut the reserves that banks need to set aside five times in the past year.

Last month, Chinese banks made the most new loans on record, a total of 3.23 trillion yuan ($481 billion). A central bank official said previously that no credit floodgate had been opened, and the lending jump showed recent easing steps were working.

China’s financial sector must serve the real economy, Xi said, but stable growth and risk prevention must be balanced.


Company: cnbc, Activity: cnbc, Date: 2019-02-23  Authors: thomas peter, pool, getty images
Keywords: news, cnbc, companies, past, urges, risks, financial, xi, risk, china, economy, growth, prevention, seeking, policy, stable, chinas


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US-China trade war: Deal needs enforcement, says Chamber of Commerce

Pledges from Beijing to buy more American goods and fix some economic structural issues are meaningless victories for the U.S. if Donald Trump’s administration doesn’t also create ways to enforce a trade agreement with China, according to a top official from the U.S. Chamber of Commerce. That comes as Chinese negotiators ready for the next round of trade talks, set to begin Tuesday in Washington. “Without enforcement, this deal fails,” he told CNBC’s Eunice Yoon in Beijing. Enforcement mechanism


Pledges from Beijing to buy more American goods and fix some economic structural issues are meaningless victories for the U.S. if Donald Trump’s administration doesn’t also create ways to enforce a trade agreement with China, according to a top official from the U.S. Chamber of Commerce. That comes as Chinese negotiators ready for the next round of trade talks, set to begin Tuesday in Washington. “Without enforcement, this deal fails,” he told CNBC’s Eunice Yoon in Beijing. Enforcement mechanism
US-China trade war: Deal needs enforcement, says Chamber of Commerce Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: huileng tan, mark schiefelbein, pool
Keywords: news, cnbc, companies, trade, tariffs, enforcement, brilliant, war, commerce, beijing, needs, uschina, deal, china, according, need, chamber, trumps


US-China trade war: Deal needs enforcement, says Chamber of Commerce

Pledges from Beijing to buy more American goods and fix some economic structural issues are meaningless victories for the U.S. if Donald Trump’s administration doesn’t also create ways to enforce a trade agreement with China, according to a top official from the U.S. Chamber of Commerce.

That comes as Chinese negotiators ready for the next round of trade talks, set to begin Tuesday in Washington. So far, reports indicate, the two countries have found common ground on China decreasing its trade surplus with the U.S. through more purchases, but sticking points remain on issues such as intellectual property theft and the subsidies Beijing gives to its domestic firms.

Still, even if Trump’s team can realize its goals on those fronts, it will all come down to whether both countries actually live up to their commitments, according to Myron Brilliant, executive vice president and head of international affairs at the U.S. Chamber of Commerce.

“Without enforcement, this deal fails,” he told CNBC’s Eunice Yoon in Beijing. “Implementation and enforcement are going to be two key elements — so you need to have implementation, you need to have follow-through, but you need to have enforcement mechanisms that will ensure that both sides have trust that this deal is sustaining and verifiable.”

Enforcement mechanisms could include a “snapback” in tariffs if China doesn’t live up to the terms of the deal, he said. Another option, according to Brilliant, would be for the U.S. to “delay the reduction of tariffs being reduced from 10 percent down to zero” contingent on Beijing’s adherence to the agreement.

Such measures are unlikely to be well received by the Chinese negotiators, and multiple media reports indicate that remains one of the biggest sticking points in the ongoing discussion. Still, Brilliant emphasized that the business community is hoping some sort of agreement will come together.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: huileng tan, mark schiefelbein, pool
Keywords: news, cnbc, companies, trade, tariffs, enforcement, brilliant, war, commerce, beijing, needs, uschina, deal, china, according, need, chamber, trumps


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