Russia is not the only pressing issue that NATO has to deal with

US president Donald Trump is seen during his press conference at the 2018 NATO Summit in Brussels, Belgium on July 12, 2018. Defense spending, againSpending is likely to be a key issue again this week with the latest figures not making for comfortable reading. Given the slow progress made by members, Trump is likely to be heavily critical again. The European nation only spent an estimated 1.36% of its GDP on defense spending in 2019, setting up another potential clash with the U.S. In September


US president Donald Trump is seen during his press conference at the 2018 NATO Summit in Brussels, Belgium on July 12, 2018.
Defense spending, againSpending is likely to be a key issue again this week with the latest figures not making for comfortable reading.
Given the slow progress made by members, Trump is likely to be heavily critical again.
The European nation only spent an estimated 1.36% of its GDP on defense spending in 2019, setting up another potential clash with the U.S.
In September
Russia is not the only pressing issue that NATO has to deal with Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: holly ellyatt
Keywords: news, cnbc, companies, members, russia, summit, natos, trump, issue, defense, deal, pressing, alliance, spending, nato, military


Russia is not the only pressing issue that NATO has to deal with

US president Donald Trump is seen during his press conference at the 2018 NATO Summit in Brussels, Belgium on July 12, 2018. NurPhoto | NurPhoto | Getty Images

As heads of state and government meet in the U.K. this week for the 70th anniversary of the military alliance NATO, discussions are likely to focus on shifting geopolitical relations and military threats, that thorny issue of defense spending and, crucially, the alliance’s future. NATO Secretary General Jens Stoltenberg said earlier this year that the summit on Dec. 3 and 4 will give members the opportunity to address “current and emerging security challenges and how NATO continues to invest and adapt to ensure it will remain a pillar of stability in the years ahead.” The summit on the outskirts of London comes at a tricky time for NATO with unsettled relationships countering older insecurities like its relations with Russia. Furthermore, the commitment of its most powerful member, the U.S., to the alliance is now more uncertain than ever. “Rarely has NATO not been under verbal siege over these past few months,” Judy Dempsey, a non-resident senior fellow at Carnegie Europe, said in an editorial piece on Tuesday last week. “The fact that that this meeting will not be called a summit shows how NATO’s seventieth birthday is not being celebrated with great fanfare but instead with a degree of self-doubt, if not anxiety.” That anxiety comes after a tough few years for the alliance, especially when it comes to the issue of who pays the most. NATO agreed at a summit in Wales in 2014 to reverse the trend of declining defense budgets and to raise them over the coming decade, a move that was designed to “further strengthen the transatlantic bond.” Then, members agreed to spend a minimum of 2% of their GDP (gross domestic product) on defense. At last year’s summit in Brussels, President Donald Trump chided other members of the group for not meeting spending targets agreed at the NATO summit in 2014. Experts note that discussions at this NATO “Leaders Meeting,” as it’s being called, will be informed as much by issues not on the formal agenda as those that are. “Member states will be keen to bring their political differences back behind closed doors, whilst emphasizing the military coherence and credibility of their alliance,” Sarah Raine, consulting senior fellow for geopolitics and strategy at the International Institute for Strategic Studies (IISS), told CNBC. “The degree to which Europe should do more not just for itself, but also by itself, remains highly contentious. Assessment of the scope of NATO’s engagement on China’s challenge, including the U.S. push to include the issue of 5G within these discussions, risk further highlighting these sensitivities,” she said.

Defense spending, again

Spending is likely to be a key issue again this week with the latest figures not making for comfortable reading. NATO estimates for 2019, released in June, show that only the U.S., U.K., Greece, Estonia, Romania, Poland and Latvia have met or surpassed that target. The highest defense spend was made by the U.S., at 3.4% of its GDP, while the lowest spend was by Luxembourg which only spent 0.55%. Given the slow progress made by members, Trump is likely to be heavily critical again. Germany has been singled out for especially harsh treatment because of its budget surplus. The European nation only spent an estimated 1.36% of its GDP on defense spending in 2019, setting up another potential clash with the U.S.

US commitment to NATO

Defense spending, or the lack thereof, has created so much ire in Trump that there are reports that he frequently discussed pulling the U.S. out of the alliance, even with Congressional support. In July, he also likened countries not meeting the defense spend target, like Germany, to delinquents. “We’re the schmucks that are paying for the whole thing,” Trump said at a rally in July. “Frankly, many countries owe us a tremendous amount of money for many years back, where they’re delinquent, as far as I’m concerned, because the United States has had to pay for them,” singling out Germany as “the number one” culprit.

Perhaps the only thing Trump has in common with his predecessor Barack Obama was their shared dismay at the perception that the U.S. bears the brunt of NATO spending. Obama called out “free riders” in NATO that benefit from U.S. military support without contributing enough to defense themselves.

Europe’s commitment to NATO

Ironically, questions over members’ commitment to NATO could come from closer to home (it’s headquartered in Brussels) with increasing talk in Europe about strengthening the EU’s cooperation and coordination on defense. French President Emmanuel Macron has caused a stir ahead of this week’s NATO meeting after he said in early November that “what we are currently experiencing is the brain death of Nato.” Speaking to The Economist magazine, Macron cited the U.S. failure to consult NATO before pulling out of Syria as a reason for his comment, and also questioned NATO’s validity. He argued that Europe should focus on its own defense alliance, although German Chancellor Angela Merkel believes the continent is too weak “for now” to defend itself. Speaking to lawmakers last week, Merkel said that “we rely on this trans-Atlantic alliance, and that is why it is right for us to work for this alliance and take on more responsibility.” IISS’s Raine told CNBC that the short-term priority for the alliance “must be to get NATO’s public messaging back on track.” “That includes the presentation of an alliance that is militarily more capable than ever before, and that is adapting to the evolving security threats its members face, not at the expense of its traditional focus but in addition to it,” she said. The NATO secretary general will be hoping for summit headlines that focus attention away from the state of NATO’s brain, Raine said, “and towards admiration for NATO’s muscles, by highlighting the range and depth of NATO’s operational commitments and capabilities.”

The ‘R’-word

NATO was set up in 1949 as a military alliance between 10 European countries, the U.S. and Canada “to promote cooperation among its members and to guard their freedom,” the alliance says, “within the context of countering the threat posed at the time by the Soviet Union.” Seventy years on, and after several decades of relatively good relations and cooperation, NATO’s relations with Russia are tense. This comes after Moscow’s 2014 annexation of Crimea and its role in a pro-Russian uprising in eastern Ukraine. NATO says that the channels of communication remain open with Russia but that “Russia’s destabilizing actions and policies go beyond Ukraine” citing its “provocative military activities near NATO’s borders stretching from the Baltic to the Black Sea.” It has also cited its “irresponsible and aggressive nuclear rhetoric,” its support for the regime in Syria as well as the U.K. nerve agent attack which it said was “a clear breach of international norms.” NATO has said it supported the U.S.’ decision to withdraw from the 1987 Intermediate-Range Nuclear Forces Treaty in response to “Russia’s material breach.” On Russia’s part, perhaps the most controversial NATO decision has been the decision to deploy NATO missile defense systems in Romania and Poland (although completion of this Aegis Ashore — a land-based missile defense system — site is delayed to 2020). Along with the deployment of thousands of NATO troops to the Baltic nations and Poland in the last few years, these developments appear to have served only to exacerbate tensions with Russia. Russia has widely criticized the deployment of missile defense shields in its former backyard. The prospect of Ukraine and Georgia, both of which used to be part of the former USSR, joining NATO (and even potentially the European Union) is also an unsavory prospect for Moscow. In September 2019, Russian Foreign Minister Sergey Lavrov said that “NATO approaching our borders is a threat to Russia.” That view was echoed by Russian President Vladimir Putin this month, when he told Russia’s Security Council that he was “seriously concerned about the NATO infrastructure approaching our borders, as well as the attempts to militarize outer space.”

The future?


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: holly ellyatt
Keywords: news, cnbc, companies, members, russia, summit, natos, trump, issue, defense, deal, pressing, alliance, spending, nato, military


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Greenland to Trump: ‘We’re open for business, not for sale’

Fed may not have enough firepower to prevent a recessionPresident Trump has been pressing the Fed to help head off a feared economic slowdown, but it’s not clear the central bank has the ammunition. The Fedread more


Fed may not have enough firepower to prevent a recessionPresident Trump has been pressing the Fed to help head off a feared economic slowdown, but it’s not clear the central bank has the ammunition. The Fedread more
Greenland to Trump: ‘We’re open for business, not for sale’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: david reid
Keywords: news, cnbc, companies, recessionpresident, greenland, slowdown, pressing, prevent, fed, firepower, head, business, open, help, sale, fedread, trump


Greenland to Trump: 'We're open for business, not for sale'

Fed may not have enough firepower to prevent a recession

President Trump has been pressing the Fed to help head off a feared economic slowdown, but it’s not clear the central bank has the ammunition.

The Fed

read more


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: david reid
Keywords: news, cnbc, companies, recessionpresident, greenland, slowdown, pressing, prevent, fed, firepower, head, business, open, help, sale, fedread, trump


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Getting rid of debt is a pressing issue for Gen X and younger boomers

While the majority of middle-class Americans in their 40s and 50s are saving for retirement, getting rid of debt is a more pressing concern. Among that group, 33 percent say their top savings priority for 2019 is paying off debt, according to a new report from AARP and the Ad Council. That ranked ahead of building up their retirement fund (21 percent) and an emergency fund (11 percent). Even among just 50-somethings, paying off debt ranked slightly ahead of retirement savings, 31 percent vs. 29


While the majority of middle-class Americans in their 40s and 50s are saving for retirement, getting rid of debt is a more pressing concern. Among that group, 33 percent say their top savings priority for 2019 is paying off debt, according to a new report from AARP and the Ad Council. That ranked ahead of building up their retirement fund (21 percent) and an emergency fund (11 percent). Even among just 50-somethings, paying off debt ranked slightly ahead of retirement savings, 31 percent vs. 29
Getting rid of debt is a pressing issue for Gen X and younger boomers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: sarah obrien, sturti, getty images, thanasis zovoilis, moment
Keywords: news, cnbc, companies, savings, slightly, gen, boomers, pressing, rid, getting, fund, say, retirement, vs, ahead, younger, issue, ranked, debt, paying


Getting rid of debt is a pressing issue for Gen X and younger boomers

While the majority of middle-class Americans in their 40s and 50s are saving for retirement, getting rid of debt is a more pressing concern.

Among that group, 33 percent say their top savings priority for 2019 is paying off debt, according to a new report from AARP and the Ad Council. That ranked ahead of building up their retirement fund (21 percent) and an emergency fund (11 percent).

Even among just 50-somethings, paying off debt ranked slightly ahead of retirement savings, 31 percent vs. 29 percent.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: sarah obrien, sturti, getty images, thanasis zovoilis, moment
Keywords: news, cnbc, companies, savings, slightly, gen, boomers, pressing, rid, getting, fund, say, retirement, vs, ahead, younger, issue, ranked, debt, paying


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May’s speech left pressing issues unanswered: Expert

May’s speech left pressing issues unanswered: Expert17 Hours AgoHeather Conley, senior fellow and director of the Europe program at Center for Strategic and International Studies weighs in on British Prime Minister Theresa May’s speech at the Conservative Party Conference.


May’s speech left pressing issues unanswered: Expert17 Hours AgoHeather Conley, senior fellow and director of the Europe program at Center for Strategic and International Studies weighs in on British Prime Minister Theresa May’s speech at the Conservative Party Conference.
May’s speech left pressing issues unanswered: Expert Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-03
Keywords: news, cnbc, companies, expert, unanswered, strategic, issues, weighs, senior, studies, left, pressing, mays, prime, program, speech, theresa


May's speech left pressing issues unanswered: Expert

May’s speech left pressing issues unanswered: Expert

17 Hours Ago

Heather Conley, senior fellow and director of the Europe program at Center for Strategic and International Studies weighs in on British Prime Minister Theresa May’s speech at the Conservative Party Conference.


Company: cnbc, Activity: cnbc, Date: 2018-10-03
Keywords: news, cnbc, companies, expert, unanswered, strategic, issues, weighs, senior, studies, left, pressing, mays, prime, program, speech, theresa


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This pressing question about cryptocurrencies still has no answer

Are certain cryptocurrency exchanges foreign accounts? Americans who hold more than a certain amount of money abroad typically have to file reports with both the Internal Revenue Service and the U.S. Treasury. Failure to do so can result in more than $100,000 in fines and time in prison. Here are the rules: Anyone with more than $10,000 abroad usually needs to fill out the Report of Foreign Bank and Financial Accounts, or FBAR, with the Treasury Department each year. Another law — the Foreign Ac


Are certain cryptocurrency exchanges foreign accounts? Americans who hold more than a certain amount of money abroad typically have to file reports with both the Internal Revenue Service and the U.S. Treasury. Failure to do so can result in more than $100,000 in fines and time in prison. Here are the rules: Anyone with more than $10,000 abroad usually needs to fill out the Report of Foreign Bank and Financial Accounts, or FBAR, with the Treasury Department each year. Another law — the Foreign Ac
This pressing question about cryptocurrencies still has no answer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-05  Authors: annie nova, getty images, -selva ozelli, a cpa, lawyer who specializes in the digital coins
Keywords: news, cnbc, companies, treasury, taxpayers, abroad, cryptocurrencies, accounts, file, foreign, certain, typically, pressing, question, answer, taxes, usually


This pressing question about cryptocurrencies still has no answer

Are certain cryptocurrency exchanges foreign accounts?

That’s not a philosophical musing.

Americans who hold more than a certain amount of money abroad typically have to file reports with both the Internal Revenue Service and the U.S. Treasury. Failure to do so can result in more than $100,000 in fines and time in prison.

“U.S. taxpayers may not even be aware of this requirement because it’s not something they readily file every year,” said Selva Ozelli, a certified public accountant and lawyer who specializes in the digital coins.

Here are the rules: Anyone with more than $10,000 abroad usually needs to fill out the Report of Foreign Bank and Financial Accounts, or FBAR, with the Treasury Department each year. Another law — the Foreign Account Tax Compliance Act, or FATCA — requires certain U.S. taxpayers to describe their overseas accounts on Form 8938, when they file their taxes with the IRS.


Company: cnbc, Activity: cnbc, Date: 2018-06-05  Authors: annie nova, getty images, -selva ozelli, a cpa, lawyer who specializes in the digital coins
Keywords: news, cnbc, companies, treasury, taxpayers, abroad, cryptocurrencies, accounts, file, foreign, certain, typically, pressing, question, answer, taxes, usually


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US-China trade tensions a pressing concern for Southeast Asia, says Singapore’s prime minister

Also on the agenda at the summit were the humanitarian crisis in Myanmar, and security tensions in the disputed South China Sea, but it was unclear how much substantive progress could be accomplished. The situation in Myanmar’s western state of Rakhine, where hundreds of thousands of minority Rohingya Muslims have fled for neighboring Bangladesh after a military crackdown, is one of the biggest challenges facing the group. ASEAN, formed more than half a century ago, has struggled with challenges


Also on the agenda at the summit were the humanitarian crisis in Myanmar, and security tensions in the disputed South China Sea, but it was unclear how much substantive progress could be accomplished. The situation in Myanmar’s western state of Rakhine, where hundreds of thousands of minority Rohingya Muslims have fled for neighboring Bangladesh after a military crackdown, is one of the biggest challenges facing the group. ASEAN, formed more than half a century ago, has struggled with challenges
US-China trade tensions a pressing concern for Southeast Asia, says Singapore’s prime minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-28  Authors: terence tan, mci, getty images
Keywords: news, cnbc, companies, sea, south, china, facing, trade, minister, concern, asia, challenges, working, myanmar, singapores, prime, tensions, pressing, asean, southeast, disputed, uschina


US-China trade tensions a pressing concern for Southeast Asia, says Singapore's prime minister

On Saturday Lee said the open and rules-based multilateral trading system, which has backed the growth of ASEAN member states, has come under pressure as the political mood in many countries has shifted against free trade.

Also on the agenda at the summit were the humanitarian crisis in Myanmar, and security tensions in the disputed South China Sea, but it was unclear how much substantive progress could be accomplished.

The situation in Myanmar’s western state of Rakhine, where hundreds of thousands of minority Rohingya Muslims have fled for neighboring Bangladesh after a military crackdown, is one of the biggest challenges facing the group.

ASEAN, formed more than half a century ago, has struggled with challenges facing the region because it works by consensus and is reluctant to get involved in matters considered internal to its members.

Singapore is this year’s chair of the bloc, which includes Myanmar, Laos, Cambodia, the Philippines, Thailand, Indonesia, Malaysia, Brunei and Vietnam.

Lee said ASEAN members individually will find it difficult to make an impact on regional and global challenges, and called on its leaders to boost integration and cooperation to make a mark and to be effective.

The group is working on initiatives to jointly tackle the threat of extremism and cyber attacks, as well as to promote trade and cross-border e-payment systems.

ASEAN is also working to devise a model extradition treaty and negotiating a code of conduct with China to ease tensions in the disputed South China Sea, one of the world’s most volatile hotspots and one of its busiest waterways.


Company: cnbc, Activity: cnbc, Date: 2018-04-28  Authors: terence tan, mci, getty images
Keywords: news, cnbc, companies, sea, south, china, facing, trade, minister, concern, asia, challenges, working, myanmar, singapores, prime, tensions, pressing, asean, southeast, disputed, uschina


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The livestock industry is a ‘pressing global crisis,’ says environmental advocate

The livestock industry is a global sustainability crisis that many overlook, according to a start-up focused on tackling climate change and global food insecurity. “I think when we talk about urgent, the most pressing global crisis when it comes to sustainability, [the] livestock industry is most probably the most overlooked industry that people do not know about,” David Yeung, founder of Green Monday told CNBC on Thursday. Add the need to feed any livestock that humans are raising, and the cris


The livestock industry is a global sustainability crisis that many overlook, according to a start-up focused on tackling climate change and global food insecurity. “I think when we talk about urgent, the most pressing global crisis when it comes to sustainability, [the] livestock industry is most probably the most overlooked industry that people do not know about,” David Yeung, founder of Green Monday told CNBC on Thursday. Add the need to feed any livestock that humans are raising, and the cris
The livestock industry is a ‘pressing global crisis,’ says environmental advocate Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-22  Authors: andrew wong, akiko fujita
Keywords: news, cnbc, companies, pressing, environmental, food, meat, crisis, billion, yeung, advocate, livestock, industry, global, sustainability, told


The livestock industry is a 'pressing global crisis,' says environmental advocate

The livestock industry is a global sustainability crisis that many overlook, according to a start-up focused on tackling climate change and global food insecurity.

“I think when we talk about urgent, the most pressing global crisis when it comes to sustainability, [the] livestock industry is most probably the most overlooked industry that people do not know about,” David Yeung, founder of Green Monday told CNBC on Thursday.

The ability to continue feeding the current population of more than 7 billion people is already proving to be an issue, and that total is only projected to grow (it’s expected to reach 9 billion to 10 billion in the near future), Yeung said. Add the need to feed any livestock that humans are raising, and the crisis becomes all the more challenging, he said.

“But what people don’t know, is that we have 2 billion pigs, close to 2 billion cows, and over 20 billion chickens on this planet,” Yeung said, explaining that the industry consumes a disproportionate amount of land and water.

The environmental advocate told CNBC the livestock industry is a problem because of its release of carbon into the environment, challenges with food production efficiency, and connection to water scarcity. That all serves as the “biggest and most overlooked” issue that people are unaware of related to sustainability, he said.

One of the steps that the start-up has taken to resolve the problem is to partner with innovative food-tech companies to create alternate vegan food choices.

“Plant-based food tech companies have been absolutely exploding,” Yeung said, adding that Green Monday has partnered with Beyond Meat to bring its products to Asia.

Beyond Meat is a plant-based food company that has received funding from actor Leonardo DiCaprio and Microsoft founder Bill Gates.

The Los Angeles-based producer sells the Beyond Burger, a meat-free patty that imitates the look and taste of a meat patty.


Company: cnbc, Activity: cnbc, Date: 2018-03-22  Authors: andrew wong, akiko fujita
Keywords: news, cnbc, companies, pressing, environmental, food, meat, crisis, billion, yeung, advocate, livestock, industry, global, sustainability, told


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Gold prices gain on softer dollar

Gold prices edged up early on Monday on a softer dollar, amid worries about a global trade war even as U.S. President Donald Trump faced pressure from political and trade allies over his plan for steel and aluminum tariffs. Spot gold was trading up 0.2 percent at $1,322.88 per ounce at 0117 GMT. U.S. gold futures for April delivery rose 0.3 percent to $1,323.70 per ounce. The dollar index, which measures the greenback against a basket of major currencies, was down 0.2 percent at 89.891. The unce


Gold prices edged up early on Monday on a softer dollar, amid worries about a global trade war even as U.S. President Donald Trump faced pressure from political and trade allies over his plan for steel and aluminum tariffs. Spot gold was trading up 0.2 percent at $1,322.88 per ounce at 0117 GMT. U.S. gold futures for April delivery rose 0.3 percent to $1,323.70 per ounce. The dollar index, which measures the greenback against a basket of major currencies, was down 0.2 percent at 89.891. The unce
Gold prices gain on softer dollar Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-05
Keywords: news, cnbc, companies, steel, pressure, dollar, war, political, trump, softer, trade, gold, worries, pressing, gain, president, prices


Gold prices gain on softer dollar

Gold prices edged up early on Monday on a softer dollar, amid worries about a global trade war even as U.S. President Donald Trump faced pressure from political and trade allies over his plan for steel and aluminum tariffs.

Spot gold was trading up 0.2 percent at $1,322.88 per ounce at 0117 GMT.

U.S. gold futures for April delivery rose 0.3 percent to $1,323.70 per ounce.

The dollar index, which measures the greenback against a basket of major currencies, was down 0.2 percent at 89.891.

Asian shares regained some ground on Tuesday after U.S. President Donald Trump faced growing pressure from political allies to pull back from proposed steel and aluminium tariffs, easing investor worries about an imminent trade war.

Mexican and U.S. officials pushed on Monday to speed up NAFTA negotiations, with the United States floating the idea of reaching an agreement “in principle” in coming weeks to avoid political headwinds later this year.

Chancellor Angela Merkel said on Monday she would work with France to tackle pressing issues such as trade policy, the war in Syria and competition with China after the Social Democrats (SPD) approved joining a coalition with her conservatives.

Two anti-establishment leaders made early plays to govern Italy on Monday, triggering concern in the euro zone following an inconclusive election where voters shunted mainstream parties to the sidelines.

The uncertainty surrounding Italy’s election vote has no immediate impact on the country’s sovereign credit rating, ratings firms S&P Global and DBRS said on Monday.

China aims to expand its economy by around 6.5 percent this year, the same as in 2017, while pressing ahead with its campaign to reduce risks in the financial system, Premier Li Keqiang said Monday.


Company: cnbc, Activity: cnbc, Date: 2018-03-05
Keywords: news, cnbc, companies, steel, pressure, dollar, war, political, trump, softer, trade, gold, worries, pressing, gain, president, prices


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This 28-year Goldman vet just joined a start-up to help solve a pressing tech problem

Duet retired from Goldman earlier this year, but far from hitting the beach, the ex-banker has gone from investing in start-ups and deploying their technology to working at one. He’s now chief operating officer at Vapor IO, a 25-person company in Austin, Texas, that raised money from Goldman in 2015. “Cole and I have known each other for many years and had an ongoing dialogue” about potentially working together, Duet told CNBC.com. Anthony Noto led Twitter’s IPO at Goldman and then joined the in


Duet retired from Goldman earlier this year, but far from hitting the beach, the ex-banker has gone from investing in start-ups and deploying their technology to working at one. He’s now chief operating officer at Vapor IO, a 25-person company in Austin, Texas, that raised money from Goldman in 2015. “Cole and I have known each other for many years and had an ongoing dialogue” about potentially working together, Duet told CNBC.com. Anthony Noto led Twitter’s IPO at Goldman and then joined the in
This 28-year Goldman vet just joined a start-up to help solve a pressing tech problem Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-06-20  Authors: ari levy, source
Keywords: news, games, cnbc, companies, pressing, solve, problem, investment, director, data, tech, help, vet, 28year, working, project, joined, goldman, towers, duet, startup, technology


This 28-year Goldman vet just joined a start-up to help solve a pressing tech problem

Toward the tail end of his 28-year career at Goldman Sachs, Don Duet was running the bank’s technology division and helping lead investments in emerging companies including Square, Docker and Barefoot Networks.

Duet retired from Goldman earlier this year, but far from hitting the beach, the ex-banker has gone from investing in start-ups and deploying their technology to working at one. He’s now chief operating officer at Vapor IO, a 25-person company in Austin, Texas, that raised money from Goldman in 2015.

Vapor, whose technology is designed to give cell towers the power of massive data centers, was founded by Cole Crawford, the former executive director of Facebook’s Open Compute Project. Duet was a director at the project, which was started in 2009 by engineers from Facebook to create more efficient data center infrastructure that could handle the explosion in new types of data.

“Cole and I have known each other for many years and had an ongoing dialogue” about potentially working together, Duet told CNBC.com. “It became a very interesting opportunity.”

Duet said one of the main things that got him excited was an investment from Crown Castle, the owner of 40,000 cell towers across the U.S. The size of the deal hasn’t been disclosed, but Duet said it’s a minority investment and part of a funding round that is still in the works and will include other backers.

The Wall Street to Silicon Valley path has become a familiar one in recent years. Anthony Noto led Twitter’s IPO at Goldman and then joined the internet company as CFO in 2014. Ruth Porat left her position as finance chief at Morgan Stanley in 2015 to take that role at Google. Ned Segal, a former Goldman tech banker, became CFO of RPX in 2013 and then joined Intuit as a senior vice president two years later.


Company: cnbc, Activity: cnbc, Date: 2017-06-20  Authors: ari levy, source
Keywords: news, games, cnbc, companies, pressing, solve, problem, investment, director, data, tech, help, vet, 28year, working, project, joined, goldman, towers, duet, startup, technology


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