Rep. Patrick McHenry: ‘There’s no capacity to kill Bitcoin’

Rep. Patrick McHenry: ‘There’s no capacity to kill Bitcoin’7 Hours AgoRep. Patrick McHenry (R-N.C.), ranking member of the Financial Services Committee, joins “Squawk Box” to discuss the tech hearing on Capitol Hill.


Rep. Patrick McHenry: ‘There’s no capacity to kill Bitcoin’7 Hours AgoRep. Patrick McHenry (R-N.C.), ranking member of the Financial Services Committee, joins “Squawk Box” to discuss the tech hearing on Capitol Hill.
Rep. Patrick McHenry: ‘There’s no capacity to kill Bitcoin’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, squawk, services, kill, mchenry, member, rep, patrick, tech, rnc, bitcoin, theres, ranking, capacity


Rep. Patrick McHenry: 'There's no capacity to kill Bitcoin'

Rep. Patrick McHenry: ‘There’s no capacity to kill Bitcoin’

7 Hours Ago

Rep. Patrick McHenry (R-N.C.), ranking member of the Financial Services Committee, joins “Squawk Box” to discuss the tech hearing on Capitol Hill.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, squawk, services, kill, mchenry, member, rep, patrick, tech, rnc, bitcoin, theres, ranking, capacity


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This wealthy European nation has the most potential for future growth, researchers say

Switzerland has more potential for economic growth than any other country in the world, according to new research. In its fifth annual ranking of global economic growth potential released on Monday, management consultancy KMPG analysed two decades’ worth of data, measuring how 180 countries performed across 26 metrics. The metrics fell into one of five categories: macroeconomic stability, openness, quality of infrastructure, quality of institutions, and human development. Switzerland, despite al


Switzerland has more potential for economic growth than any other country in the world, according to new research. In its fifth annual ranking of global economic growth potential released on Monday, management consultancy KMPG analysed two decades’ worth of data, measuring how 180 countries performed across 26 metrics. The metrics fell into one of five categories: macroeconomic stability, openness, quality of infrastructure, quality of institutions, and human development. Switzerland, despite al
This wealthy European nation has the most potential for future growth, researchers say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: chloe taylor
Keywords: news, cnbc, companies, ranking, economic, world, say, levels, growth, openness, researchers, nation, quality, future, european, wealthy, netherlands, potential


This wealthy European nation has the most potential for future growth, researchers say

Switzerland has more potential for economic growth than any other country in the world, according to new research.

In its fifth annual ranking of global economic growth potential released on Monday, management consultancy KMPG analysed two decades’ worth of data, measuring how 180 countries performed across 26 metrics.

The metrics fell into one of five categories: macroeconomic stability, openness, quality of infrastructure, quality of institutions, and human development.

Switzerland, despite already being a well-developed and wealthy nation, was awarded the highest score in the ranking, meaning it was most likely to see strong productivity levels (high levels of economic output) which would boost overall growth. The Netherlands and Singapore followed close behind.

While Swiss infrastructure, institutions and openness scored highly in KPMG’s ranking, the report said that education — a metric that fell under the human development category — was an area that needed attention.

“Switzerland scores below peers such as Germany, Netherlands, Finland and Denmark,” Yael Selfin, chief economist at KPMG in the U.K., told CNBC via email. “It will take up to 10 years for improvements in education to feed into the labor market, and it would therefore be good to also focus on improving workers’ skills through on-the-job training.”

Switzerland was recently named the best place in the world to live and work by HSBC, with 80% of people who had relocated to the country saying they were happy with its economic climate. According to the OECD, the small European nation had one of the world’s strongest economies in 2018.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: chloe taylor
Keywords: news, cnbc, companies, ranking, economic, world, say, levels, growth, openness, researchers, nation, quality, future, european, wealthy, netherlands, potential


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Rep. Patrick McHenry on his concern over Facebook’s new cryptocurrency

Rep. Patrick McHenry on his concern over Facebook’s new cryptocurrency9:10 AM ET Wed, 26 June 2019The House Financial Services Committee invited Facebook to testify at a July hearing about its cryptocurrency plans. Ranking Republican on the committee Congressman Patrick McHenry (R-N.C.) joins “Squawk Box” to discuss.


Rep. Patrick McHenry on his concern over Facebook’s new cryptocurrency9:10 AM ET Wed, 26 June 2019The House Financial Services Committee invited Facebook to testify at a July hearing about its cryptocurrency plans. Ranking Republican on the committee Congressman Patrick McHenry (R-N.C.) joins “Squawk Box” to discuss.
Rep. Patrick McHenry on his concern over Facebook’s new cryptocurrency Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-26
Keywords: news, cnbc, companies, services, rnc, facebooks, ranking, committee, patrick, mchenry, rep, republican, squawk, cryptocurrency, testify, concern


Rep. Patrick McHenry on his concern over Facebook's new cryptocurrency

Rep. Patrick McHenry on his concern over Facebook’s new cryptocurrency

9:10 AM ET Wed, 26 June 2019

The House Financial Services Committee invited Facebook to testify at a July hearing about its cryptocurrency plans. Ranking Republican on the committee Congressman Patrick McHenry (R-N.C.) joins “Squawk Box” to discuss.


Company: cnbc, Activity: cnbc, Date: 2019-06-26
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The 5 best US states to live in, according to US News & World Report

Where you live doesn’t just affect what sports team you root for or whether you say “soda” vs. Geography can have a major impact on your career, earnings and quality of life. Each year, U.S. News & World Report surveys over 50,000 Americans in order to rank all U.S. states across 71 metrics in eight categories: crime and corrections, economy, education, environment, fiscal stability, healthcare, infrastructure and opportunity. The resulting Best States of 2019 list reflects the states that offer


Where you live doesn’t just affect what sports team you root for or whether you say “soda” vs. Geography can have a major impact on your career, earnings and quality of life. Each year, U.S. News & World Report surveys over 50,000 Americans in order to rank all U.S. states across 71 metrics in eight categories: crime and corrections, economy, education, environment, fiscal stability, healthcare, infrastructure and opportunity. The resulting Best States of 2019 list reflects the states that offer
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Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: abigail hess
Keywords: news, cnbc, companies, ranking, highquality, report, stability, live, states, according, healthcare, infrastructure, world, public, education, best


The 5 best US states to live in, according to US News & World Report

Where you live doesn’t just affect what sports team you root for or whether you say “soda” vs. “pop.” Geography can have a major impact on your career, earnings and quality of life.

Each year, U.S. News & World Report surveys over 50,000 Americans in order to rank all U.S. states across 71 metrics in eight categories: crime and corrections, economy, education, environment, fiscal stability, healthcare, infrastructure and opportunity.

U.S. News ranks each state from one to 50 — with one being the best and 50 being the worst — across each of these eight categories and then uses a weighed average to create a final ranking of the best places to live in the country.

The resulting Best States of 2019 list reflects the states that offer residents public safety and just corrections programs, strong employment and growth, high-quality public education, clean air and water, long and short-term financial stability, access to high-quality healthcare as well as robust energy, internet and transportation infrastructure. U.S. News also calculated opportunity based on variables like cost of living and economic equality.

Here is are the top five states on U.S. News’ Best States of 2019 ranking:


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: abigail hess
Keywords: news, cnbc, companies, ranking, highquality, report, stability, live, states, according, healthcare, infrastructure, world, public, education, best


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Top city index: These are the best places to live for 2019

Vienna has been named the best city in the world to live in this year. In a list published Wednesday, HR consultancy Mercer ranked 231 cities worldwide on their quality of living. According to Mercer, the city also has world-class standards when it comes to areas such as recreation and availability of consumer goods. In 34th place, San Francisco was named the best city to live in in the U.S., while Detroit was the lowest ranking U.S. city in 72nd place. U.K. capital London was ranked the 41st be


Vienna has been named the best city in the world to live in this year. In a list published Wednesday, HR consultancy Mercer ranked 231 cities worldwide on their quality of living. According to Mercer, the city also has world-class standards when it comes to areas such as recreation and availability of consumer goods. In 34th place, San Francisco was named the best city to live in in the U.S., while Detroit was the lowest ranking U.S. city in 72nd place. U.K. capital London was ranked the 41st be
Top city index: These are the best places to live for 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: chloe taylor, imagno, getty images
Keywords: news, cnbc, companies, city, capital, index, ranking, living, mercer, best, live, standards, list, place, 2019, ranked, places


Top city index: These are the best places to live for 2019

Vienna has been named the best city in the world to live in this year.

In a list published Wednesday, HR consultancy Mercer ranked 231 cities worldwide on their quality of living. The Austrian capital topped the list for the tenth year running, closely followed by Zurich in Switzerland. Auckland, Munich, and Vancouver — the highest ranking North American city for the last decade — came in joint third.

Mercer’s rankings considered several factors including housing, economy, political and social environment, and health considerations, to determine the quality of living in each city.

Vienna is famed for its coffee-house culture, world-renowned museums, and imperial palaces. According to Mercer, the city also has world-class standards when it comes to areas such as recreation and availability of consumer goods.

In 34th place, San Francisco was named the best city to live in in the U.S., while Detroit was the lowest ranking U.S. city in 72nd place. U.K. capital London was ranked the 41st best city on Mercer’s scale.

Singapore, in 25th place globally, held onto its status as Asia’s most livable city. Elsewhere, Uruguay’s capital Montevideo was the highest ranked in South America, while Port Louis, Mauritius, was Africa’s top city.

At the other end of the scale, Iraqi capital Baghdad was ranked at the bottom of the list. However, Mercer noted that the city had seen significant improvements relating to safety and health services.

Venezuelan capital Caracas came in 202nd place, with researchers flagging that its living standards had dropped due to its current economic and political instability.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: chloe taylor, imagno, getty images
Keywords: news, cnbc, companies, city, capital, index, ranking, living, mercer, best, live, standards, list, place, 2019, ranked, places


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This is the happiest city in America — and it isn’t in California or Hawaii

A new analysis by WalletHub has ranked it as the happiest city for 2019. Irvine, California, south of Los Angeles in Orange County, came in second place with a 14th place ranking in emotional and physical well-being, 11th place ranking in income and employment and an fifth place ranking in community and environment. The third happiest city, Madison, Wisconsin, scored a third place ranking in emotional and physical well-being, 14th place ranking in income and employment and a seventh place rankin


A new analysis by WalletHub has ranked it as the happiest city for 2019. Irvine, California, south of Los Angeles in Orange County, came in second place with a 14th place ranking in emotional and physical well-being, 11th place ranking in income and employment and an fifth place ranking in community and environment. The third happiest city, Madison, Wisconsin, scored a third place ranking in emotional and physical well-being, 14th place ranking in income and employment and a seventh place rankin
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Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: sarah berger
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This is the happiest city in America — and it isn't in California or Hawaii

If pursuing happiness is a life goal, you might want to consider moving to Plano, Texas. A new analysis by WalletHub has ranked it as the happiest city for 2019.

In a report released Monday, the personal finance site ranked the happiest cities in America based across three key dimensions — emotional and physical well-being, income and employment and community and environment — looking at 31 key indicators, ranging from depression rate to income growth.

Plano, about a half-hour drive north of Dallas, had solid scores in all three dimensions, with a seventh place ranking in emotional and physical well-being, sixth place ranking in income and employment and an eighth place ranking in community and environment.

Irvine, California, south of Los Angeles in Orange County, came in second place with a 14th place ranking in emotional and physical well-being, 11th place ranking in income and employment and an fifth place ranking in community and environment.

The third happiest city, Madison, Wisconsin, scored a third place ranking in emotional and physical well-being, 14th place ranking in income and employment and a seventh place ranking in community and environment.

These are the 10 happiest cities, according to WalletHub.

1. Plano, Texas

2. Irvine, California

3. Madison, Wisconsin

4. Fremont, California

5. Huntington Beach, California

6. Fargo, North Dakota

7. Grand Prairie, Texas

8. San Jose, California

9. Scottsdale, Arizona

10. San Francisco, California

Meanwhile, falling to the bottom of WalletHub’s ranking are Charleston, West Virginia (ranked 180); Toledo, Ohio (ranked 181); and Detroit, Michigan (ranked 182).

Other findings of interest include: Burlington, Vermont ranked as the city with the fewest working hours and Anchorage, Alaska had the most. San Francisco ranked as the city with the highest income growth and Gulfport, Mississippi had the lowest. Overland Park, Kansas ranked as the city with the highest adequate sleep rate, while Detroit, Michigan had the lowest.

WalletHub looked at 182 of the country’s largest cities, including 150 of the most populated in the U.S., plus at least two of the most populated in each state. You can find WalletHub’s full report here.

Don’t miss: This is America’s richest zip code — and it’s not in New York or California

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Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: sarah berger
Keywords: news, cnbc, companies, wellbeing, city, ranking, place, isnt, ranked, income, emotional, america, california, happiest, physical, employment, hawaii


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Some in GOP buck Trump, counter Green New Deal with climate plans

But ever since the New York Democrat began promoting the idea late last year, a growing number of House GOP lawmakers have been increasingly willing to say those four little words: “Climate change is real.” “This is an extremely important subject,” Carter said during a House Energy and Commerce subcommittee on the Environment and Climate Change hearing on February 6, adding that climate change “is real” and is “something that we have to address.” That’s why we back sensible, realistic, and effec


But ever since the New York Democrat began promoting the idea late last year, a growing number of House GOP lawmakers have been increasingly willing to say those four little words: “Climate change is real.” “This is an extremely important subject,” Carter said during a House Energy and Commerce subcommittee on the Environment and Climate Change hearing on February 6, adding that climate change “is real” and is “something that we have to address.” That’s why we back sensible, realistic, and effec
Some in GOP buck Trump, counter Green New Deal with climate plans Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: allan smith, alex wong, getty images news, getty images, saul loeb, afp, simon dawson, bloomberg, matthew busch, roger wright
Keywords: news, cnbc, companies, scientists, ranking, climate, energy, house, member, deal, buck, republicans, plans, change, subcommittee, gop, trump, green, counter


Some in GOP buck Trump, counter Green New Deal with climate plans

Republicans have trashed the Green New Deal — Rep. Alexandria Ocasio-Cortez’s proposal to eliminate greenhouse gas emissions and create a renewable energy economy — as unrealistic, unaffordable and ill-conceived.

But ever since the New York Democrat began promoting the idea late last year, a growing number of House GOP lawmakers have been increasingly willing to say those four little words: “Climate change is real.” And they’re warning the rest of their party that Republicans must push for alternative solutions before it’s too late.

Reps. John Shimkus (R-Illinois), the ranking member of the House Energy and Commerce’s Environment and Climate Change subcommittee, Billy Long (R-Missouri), Bill Flores (R-Texas), Buddy Carter (R-Georgia) and Anthony Gonzalez (R-Ohio), among others, made their views plain during a pair of hearings on the topic in early February.

“This is an extremely important subject,” Carter said during a House Energy and Commerce subcommittee on the Environment and Climate Change hearing on February 6, adding that climate change “is real” and is “something that we have to address.”

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Shimkus, along with Rep. Greg Walden (R-Oregon), the ranking member of the Energy and Commerce Committee, and Fred Upton (R-Michigan), the ranking member of the House Energy and Commerce’s Energy subcommittee, argued in a Feb. 13 opinion article that the Green New Deal would have “potentially devastating consequences on our national debt and on our economy.”

“Americans deserve better. That’s why we back sensible, realistic, and effective policies to tackle climate change,” they wrote.

It’s a position that contradicts President Donald Trump, who continues to doubt the veracity of climate science — so much so that his administration plans to name a group of selected scientists to reassess it’s earlier dire analysis of climate change. According to The Washington Post, the group of scientists would include those who question just how severe climate change really is and the extent to which humans contribute to it. According to Bloomberg, the Trump administration will seek drastic cuts to the Department of Energy’s renewable energy budget as part of the president’s fiscal year 2020 budget request, set to be released Monday.

But polling shows the Republican Party’s aversion to acknowledging climate change is increasingly falling out of favor. An NBC News/Wall Street Journal poll released on March 4 showed that 63 percent of adults felt that the GOP’s positions on climate change were outside the mainstream, compared to 54 percent who said so when asked in October 2015. On fiscal issues, immigration and abortion — three other issues that adults were asked about in both the polls — the difference between 2015 and 2019 was negligible or nonexistent.


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: allan smith, alex wong, getty images news, getty images, saul loeb, afp, simon dawson, bloomberg, matthew busch, roger wright
Keywords: news, cnbc, companies, scientists, ranking, climate, energy, house, member, deal, buck, republicans, plans, change, subcommittee, gop, trump, green, counter


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Facebook rejects Australian regulator’s push for scrutiny of news feeds

Facebook has rejected an Australian regulator’s recommendation for greater scrutiny over the social network’s advertising market power and the ranking of news articles in customers’ feeds. “People, not regulators, should decide what they see in their news feeds,” Facebook said in a 76-page submission in reply dated March 3 and emailed to Reuters on Wednesday. “Creating a news ranking regulator for Facebook is not a proportionate regulatory solution that will be effective to address the longstand


Facebook has rejected an Australian regulator’s recommendation for greater scrutiny over the social network’s advertising market power and the ranking of news articles in customers’ feeds. “People, not regulators, should decide what they see in their news feeds,” Facebook said in a 76-page submission in reply dated March 3 and emailed to Reuters on Wednesday. “Creating a news ranking regulator for Facebook is not a proportionate regulatory solution that will be effective to address the longstand
Facebook rejects Australian regulator’s push for scrutiny of news feeds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: chesnot, getty images
Keywords: news, cnbc, companies, feeds, push, regulator, regulators, companies, publishers, rejects, accc, ranking, seek, facebook, technology, australian, scrutiny, competition


Facebook rejects Australian regulator's push for scrutiny of news feeds

Facebook has rejected an Australian regulator’s recommendation for greater scrutiny over the social network’s advertising market power and the ranking of news articles in customers’ feeds.

The proposal by the Australian Competition and Consumer Commission (ACCC) in December, along with a new regulator to police technology giants, is being watched closely in other countries as governments seek to check their power.

“People, not regulators, should decide what they see in their news feeds,” Facebook said in a 76-page submission in reply dated March 3 and emailed to Reuters on Wednesday.

“Creating a news ranking regulator for Facebook is not a proportionate regulatory solution that will be effective to address the longstanding monetisation challenges facing some Australian publishers,” Facebook said.

It said the commission underestimated the level of competition in online advertising markets in Australia, and was mistaken in its belief that Facebook’s aggregation and analysis of users’ data made it powerful.

Facebook’s response follows a similar rebuttal from Alphabet Inc’s Google as the companies seek to head off a crackdown that could form a template for curtailing their growing influence in public life around the world.

The ACCC had said the enormous market power of firms such as Google, which has a 94 percent share of web searches in Australia, and their opaque methods for ranking advertisements, gave them the ability and incentive to favor their businesses over advertisers.

In its preliminary recommendations that are subject to change, the ACCC said the new regulator should have powers to investigate how the companies rank advertisements and news articles.

That was welcomed by NewsMediaWorks, a group representing Australian news publishers, which said that online platforms unfairly profit from distributing their stories. Facebook suggested its opponents feared competition.

“The preliminary report’s near-exclusive focus on protecting certain publishers from disruption and competition is at odds with the ACCC’s mandate to promote competition,” Facebook said.

Australia, which has passed laws forcing technology companies to help police access user data amid growing concerns about the distribution of so-called “fake news,” ordered the ACCC inquiry as part of wider media reforms in 2017.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: chesnot, getty images
Keywords: news, cnbc, companies, feeds, push, regulator, regulators, companies, publishers, rejects, accc, ranking, seek, facebook, technology, australian, scrutiny, competition


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Trump rises 51 spots on Forbes billionaires list — but his net worth stays flat at $3.1 billion

President Donald Trump rose 51 spots in Forbes’ annual ranking of billionaires, the magazine reported Tuesday, but it wasn’t because his net worth increased. Trump’s ranking jumped to 715 from 766 in this year’s list, primarily due to the declining wealth of other billionaires, Forbes said. The president’s net worth stayed flat at $3.1 billion. The top three richest people in the world according to Forbes’ ranking are Amazon CEO Jeff Bezos ($131 billion net worth), Microsoft founder Bill Gates (


President Donald Trump rose 51 spots in Forbes’ annual ranking of billionaires, the magazine reported Tuesday, but it wasn’t because his net worth increased. Trump’s ranking jumped to 715 from 766 in this year’s list, primarily due to the declining wealth of other billionaires, Forbes said. The president’s net worth stayed flat at $3.1 billion. The top three richest people in the world according to Forbes’ ranking are Amazon CEO Jeff Bezos ($131 billion net worth), Microsoft founder Bill Gates (
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Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: carmin chappell, tasos katopodis, getty images
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Trump rises 51 spots on Forbes billionaires list — but his net worth stays flat at $3.1 billion

President Donald Trump rose 51 spots in Forbes’ annual ranking of billionaires, the magazine reported Tuesday, but it wasn’t because his net worth increased.

Trump’s ranking jumped to 715 from 766 in this year’s list, primarily due to the declining wealth of other billionaires, Forbes said. The president’s net worth stayed flat at $3.1 billion. The figure remains below his pre-presidential fortune of $4.5 billion in 2015.

As president, Trump continues to maintain his portfolio of hotels, golf courses and other real estate despite backlash from critics who argue that his private-sector dealings are a conflict of interest. Although the president turned over control of the Trump Organization to his sons Eric and Donald Jr. after he took office, he has not divested from his business empire.

Trump’s properties had mixed financial success in the last year. Forbes reported that his Trump Tower and 6 East 57th St. retail property in New York lost a combined $64 million in value over the past year. Meanwhile, his Miami, Florida, golf resort lost $26 million in value. Those losses were mitigated by a $160 million gain in Trump’s 30 percent stakes in two skyscrapers, 1290 Avenue of the Americas in New York and 555 California St. in San Francisco.

Trump has invoked his status as a landlord when criticizing political opponents. In January, after Starbucks CEO Howard Schultz announced that he was considering running for president as an independent in 2020, Trump tweeted, “I only hope that Starbucks is still paying me their rent in Trump Tower!”

Trump continues to refuse to publicly release his tax returns, which would reveal details about income from his business interests.

However, the campaign by Democrats to obtain the tax returns gained new life last week, after freshman Rep. Alexandria Ocasio-Cortez, D-N.Y., questioned Trump’s former lawyer Michael Cohen about the documents. Following the Cohen hearing, the House Ways and Means Committee is preparing a formal request to the IRS for Trump’s tax returns, according to an NBC report.

The top three richest people in the world according to Forbes’ ranking are Amazon CEO Jeff Bezos ($131 billion net worth), Microsoft founder Bill Gates ($96.5 billion) and investor Warren Buffett ($82.5 billion). Newly elected Illinois Gov. J.B. Pritzker, heir to the Hyatt Hotels chain, beat out Trump this year as the richest elected official, with a net worth of $3.2 billion.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: carmin chappell, tasos katopodis, getty images
Keywords: news, cnbc, companies, president, worth, trump, list, ranking, rises, trumps, tax, returns, billion, stays, spots, billionaires, forbes, flat, net


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James Mattis’ exit from Pentagon threatens America’s foreign policy

And the top foreign policy lawmaker in Congress cannot stop laughing. On Sunday, Trump tapped Deputy Secretary of Defense Patrick Shanahan to become the acting Secretary of Defense, following Mattis’ shock resignation. His temporary appointment appears unlikely to allay the growing concerns about the direction of U.S. foreign policy, or the turmoil surrounding the Trump administration. “Secretary Mattis represents the last of what we might call the mainstream foreign policy thinkers in the Trump


And the top foreign policy lawmaker in Congress cannot stop laughing. On Sunday, Trump tapped Deputy Secretary of Defense Patrick Shanahan to become the acting Secretary of Defense, following Mattis’ shock resignation. His temporary appointment appears unlikely to allay the growing concerns about the direction of U.S. foreign policy, or the turmoil surrounding the Trump administration. “Secretary Mattis represents the last of what we might call the mainstream foreign policy thinkers in the Trump
James Mattis’ exit from Pentagon threatens America’s foreign policy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-23  Authors: tucker higgins, amanda macias, department of defense, drew angerer, getty images, -nicholas burns, former nato ambassador
Keywords: news, cnbc, companies, foreign, pentagon, president, exit, defense, mattis, james, resignation, ranking, trump, americas, trumps, secretary, threatens, policy


James Mattis' exit from Pentagon threatens America's foreign policy

WASHINGTON — Russian President Vladimir Putin offered President Donald Trump his praise. Defense Secretary Jim Mattis offered his resignation. America’s allies fear the worst. And the top foreign policy lawmaker in Congress cannot stop laughing.

As a quarter of the federal government barrels headlong into a shutdown, the biggest story in Washington concerns America’s presence overseas, where allies fear a retreat of the global superpower that has been the bedrock of military and diplomatic alliances that have lasted since the end of the second World War.

On Sunday, Trump tapped Deputy Secretary of Defense Patrick Shanahan to become the acting Secretary of Defense, following Mattis’ shock resignation. Shanahan, a former Boeing executive who spearheaded the development of the 787 Dreamliner, took the Pentagon’s second ranking role in 2017.

Shanahan “will continue to serve as directed by the president,” said U.S. Army Lt. Colonel Joe Buccino, to CNBC on Sunday. “The Department of Defense will remain focused on the defense of the nation.”

His temporary appointment appears unlikely to allay the growing concerns about the direction of U.S. foreign policy, or the turmoil surrounding the Trump administration.

“I think you will have extreme consequences,” Sen. Ben Cardin, D-MD., told CNBC in a phone interview on Friday, speaking about Mattis’s surprise resignation the night before. The retired general’s resignation came on the heels of Trump’s surprise announcement that the U.S. would be pulling troops from Syria, and followed his decision to remove troops from Afghanistan.

That announcement came on the heels of a government shutdown, tumbling markets, and amid lingering uncertainty about the president’s legal exposure as special counsel Robert Mueller continues his probe into Russian interference in the 2016 election.

Cardin, the top Democrat who served as ranking member on the Senate’s foreign relations panel for most of Trump’s presidency, called the former Marine’s exit “one of the most difficult changes in the Trump administration.”

He added: “Not only his leaving, but the manner in which he has left will create major concerns about the reliability of America as a partner.”

Mattis issued a terse letter to the president Thursday evening, in which he hinted that the two had irreconcilable differences about their views of the world, citing their treatment of global alliances in particular. His resignation is effective at the end of February.

“As this Administration continues to implode, Secretary Mattis’ extraordinary resignation is a significant loss and a real indication that President Trump’s foreign policy agenda has failed and continues to spiral into chaos,” Sen. Bob Menendez, the Foreign Relations Committee’s ranking member, said in a statement.

Mattis was seen as the lone remaining grownup in Trump’s Cabinet, willing to push back against a commander-in-chief who disdains the government’s foreign policy apparatus, and has little use for traditional diplomacy.

“Secretary Mattis represents the last of what we might call the mainstream foreign policy thinkers in the Trump administration,” said Jim Lindsay, who recently co-authored the book The Empty Throne: America’s Abdication of Global Leadership. “His departure is going to shape the balance of advice the president gets. And I think it is also going to change how American foreign policy is viewed overseas.”


Company: cnbc, Activity: cnbc, Date: 2018-12-23  Authors: tucker higgins, amanda macias, department of defense, drew angerer, getty images, -nicholas burns, former nato ambassador
Keywords: news, cnbc, companies, foreign, pentagon, president, exit, defense, mattis, james, resignation, ranking, trump, americas, trumps, secretary, threatens, policy


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