A second ‘FAANG’ stock just went red for the year as popular tech trade dies

While Facebook turned negative a few months ago, Alphabet became the second major tech company to go negative. Tech stocks overall were hit hard Tuesday as the Nasdaq Composite Index slid another 1.2 percent. Facebook and Alphabet are just two of the companies that make up the group of large tech stocks commonly known as FAANG. Still, the three other FAANG stocks hung onto their gains for the year. Clarification: This story was revised to clarify the timing of the decline of more than $1 trillio


While Facebook turned negative a few months ago, Alphabet became the second major tech company to go negative. Tech stocks overall were hit hard Tuesday as the Nasdaq Composite Index slid another 1.2 percent. Facebook and Alphabet are just two of the companies that make up the group of large tech stocks commonly known as FAANG. Still, the three other FAANG stocks hung onto their gains for the year. Clarification: This story was revised to clarify the timing of the decline of more than $1 trillio
A second ‘FAANG’ stock just went red for the year as popular tech trade dies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: lauren feiner, anindito mukheriee, bloomberg, getty images
Keywords: news, cnbc, companies, faang, stocks, trade, apple, popular, tech, trillion, stock, second, went, dies, alphabet, google, company, netflix, red, facebook


A second 'FAANG' stock just went red for the year as popular tech trade dies

Facebook and Google parent company Alphabet stocks are now down for the year. While Facebook turned negative a few months ago, Alphabet became the second major tech company to go negative.

Tech stocks overall were hit hard Tuesday as the Nasdaq Composite Index slid another 1.2 percent. Facebook and Alphabet are just two of the companies that make up the group of large tech stocks commonly known as FAANG. The others are Amazon, Apple and Netflix. As of Tuesday, the FAANG stocks have lost more than $1 trillion from their recent highs.

Still, the three other FAANG stocks hung onto their gains for the year. As of Tuesday, Amazon was up 30 percent year to date, Apple was up 5.7 percent and Netflix was up nearly 42 percent.

Facebook was down more than 25 percent this year and Alphabet was down more than 2 percent as of Tuesday. The year has been tumultuous for Facebook, which has faced a series of scandals involving misinformation on its platform and questions over data privacy. Google employees walked out of offices around the world earlier this month after The New York Times reported that the company had paid out a $90 million exit package to a former executive who was accused of sexual misconduct.

Clarification: This story was revised to clarify the timing of the decline of more than $1 trillion in market value for FAANG stocks.

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Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: lauren feiner, anindito mukheriee, bloomberg, getty images
Keywords: news, cnbc, companies, faang, stocks, trade, apple, popular, tech, trillion, stock, second, went, dies, alphabet, google, company, netflix, red, facebook


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Netherlands looks set to regain Grand Prix slot in Formula One calendar

A Formula One (F1) Grand Prix in the Netherlands is a frontrunner to be added to the motorsport’s calendar from 2020, after senior figures within the group talked up its potential this past weekend. Dutch interest in F1 has risen again with the emergence of the Red Bull driver Max Verstappen. The Dutch national has been tipped as a future world champion and is often praised for his aggressive driving style. Dutch F1 fans have had to make do with exhibitions and minor motorsport competitions at t


A Formula One (F1) Grand Prix in the Netherlands is a frontrunner to be added to the motorsport’s calendar from 2020, after senior figures within the group talked up its potential this past weekend. Dutch interest in F1 has risen again with the emergence of the Red Bull driver Max Verstappen. The Dutch national has been tipped as a future world champion and is often praised for his aggressive driving style. Dutch F1 fans have had to make do with exhibitions and minor motorsport competitions at t
Netherlands looks set to regain Grand Prix slot in Formula One calendar Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: adam reed, lars baron, getty images sport, getty images
Keywords: news, cnbc, companies, looks, circuit, racing, million, grand, regain, dutch, slot, formula, red, set, verstappen, prix, calendar, f1, netherlands, zandvoort, race


Netherlands looks set to regain Grand Prix slot in Formula One calendar

A Formula One (F1) Grand Prix in the Netherlands is a frontrunner to be added to the motorsport’s calendar from 2020, after senior figures within the group talked up its potential this past weekend.

Dutch interest in F1 has risen again with the emergence of the Red Bull driver Max Verstappen. The Dutch national has been tipped as a future world champion and is often praised for his aggressive driving style.

“We are very interested in racing in Holland,” Sean Bratches, the sport’s commercial managing director said when asked about a possible return to the Zandvoort circuit that hosted thirty races from 1952 to 1985.

“We are having productive conversations there and I am cautiously optimistic we can do something to surprise and delight fans in that territory and take advantage of the Max factor,” he added.

Local media reports have suggested a deal for 2020 could be on the table.

Dutch F1 fans have had to make do with exhibitions and minor motorsport competitions at the Zandvoort Circuit over recent years in order to get their racing fix. Verstappen, along with other Red Bull drivers, attracted more than 110,000 people earlier this year to a demonstration event.

The circuit, located in sand dunes on the Dutch North Sea coast, first hosted a Formula One championship race in 1952 but has been refurbished since 1985, when Austrian Niki Lauda won the last grand prix there.

Owners of the Zandvoort track were invited earlier this month to draw up proposals to take such a race back to the country. Dutch media reported it could cost 20 million euros ($22.8 million) to buy the rights to stage the event and that the total bill could hit 40 million euros.


Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: adam reed, lars baron, getty images sport, getty images
Keywords: news, cnbc, companies, looks, circuit, racing, million, grand, regain, dutch, slot, formula, red, set, verstappen, prix, calendar, f1, netherlands, zandvoort, race


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Head for the door if you spot these red flags during a job interview

Ever get an uncomfortable feeling in your stomach during a job interview? A company’s use of old tech can be a pain point once you’re actually working there, Sahni said. Sahni recalls a colleague who turned down a job with a significant salary bump at a major tech firm. “They could so easily have let him stay home to do this, or they could have had him meet people in person,” Sahni said. The point is, they did not use the available tech to its best advantage, which gave the candidate serious res


Ever get an uncomfortable feeling in your stomach during a job interview? A company’s use of old tech can be a pain point once you’re actually working there, Sahni said. Sahni recalls a colleague who turned down a job with a significant salary bump at a major tech firm. “They could so easily have let him stay home to do this, or they could have had him meet people in person,” Sahni said. The point is, they did not use the available tech to its best advantage, which gave the candidate serious res
Head for the door if you spot these red flags during a job interview Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: jill cornfield, urbazon, getty images, -sahil sahni, co-founder of allyo
Keywords: news, cnbc, companies, head, sahni, interview, technology, door, sign, retirement, point, company, person, job, red, youre, tech, flags, spot


Head for the door if you spot these red flags during a job interview

Ever get an uncomfortable feeling in your stomach during a job interview? Ever see two interviewers swivel their heads toward one another, lock eyes and pause before answering your question?

If you’re the kind of person who wants to know the other side of the story, here’s a way to interpret some interview clues that could foretell a dismal future job experience.

For starters, check out the technology the company uses in recruiting.

“If you have to use Internet Explorer to review documents or sign documents and mail them back, that tells you something important about their attitude toward technology,” said Sahil Sahni, co-founder of AllyO, an AI-based recruiting software.

It also reveals how they feel about investing in new technology.

A company’s use of old tech can be a pain point once you’re actually working there, Sahni said.

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You may have to fill out formal requests for information or wait days for an answer to your questions. Whether it’s a payroll question about your remaining days off or your benefits, it’s a sign of a company that is not technologically innovative.

How a company recruits can be a tipoff.

Sahni recalls a colleague who turned down a job with a significant salary bump at a major tech firm.

The reason? He took a day off from work to fly from Texas to California. When he arrived, the HR contact sat him in a room so he could have three video conferences with people in the organization.

“They could so easily have let him stay home to do this, or they could have had him meet people in person,” Sahni said.

The point is, they did not use the available tech to its best advantage, which gave the candidate serious reservations.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: jill cornfield, urbazon, getty images, -sahil sahni, co-founder of allyo
Keywords: news, cnbc, companies, head, sahni, interview, technology, door, sign, retirement, point, company, person, job, red, youre, tech, flags, spot


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Iowa woman who won $688 million jackpot almost lost her winning ticket

4:42 PM ET Wed, 24 Oct 2018 | 01:40On Sunday, a friend informed West that the winning tickets had been sold in Iowa and New York. West called her sister, who found the tickets in her truck and sent her a picture of the numbers. She entered the numbers into the Powerball website, where winning numbers show up in red, and got a response of “red, red, red, red, red, red — jackpot.” West grew up in a working class family in Earlham, Iowa, which has a population of 1,450. When she had the extra money


4:42 PM ET Wed, 24 Oct 2018 | 01:40On Sunday, a friend informed West that the winning tickets had been sold in Iowa and New York. West called her sister, who found the tickets in her truck and sent her a picture of the numbers. She entered the numbers into the Powerball website, where winning numbers show up in red, and got a response of “red, red, red, red, red, red — jackpot.” West grew up in a working class family in Earlham, Iowa, which has a population of 1,450. When she had the extra money
Iowa woman who won $688 million jackpot almost lost her winning ticket Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: abigail hess, courtesy of the iowa lottery
Keywords: news, cnbc, companies, red, school, lottery, jackpot, west, working, won, 688, ticket, numbers, family, woman, million, iowa, money, tickets, daughters, lost, winning


Iowa woman who won $688 million jackpot almost lost her winning ticket

Kevin O’Leary knows exactly what to do if you win the lottery – but does America? 4:42 PM ET Wed, 24 Oct 2018 | 01:40

On Sunday, a friend informed West that the winning tickets had been sold in Iowa and New York. When she went to look for the tickets in her purse, they weren’t there. West called her sister, who found the tickets in her truck and sent her a picture of the numbers. She entered the numbers into the Powerball website, where winning numbers show up in red, and got a response of “red, red, red, red, red, red — jackpot.”

West says she told her sister, “Get that ticket, get in your truck and get up here now — and drive slow.'”

West grew up in a working class family in Earlham, Iowa, which has a population of 1,450. Her father was a Vietnam veteran and a welder and her mother was a stay-at-home mom.

“When I was 14, I started detasseling and walking beans so that I could earn money to buy my school clothes and to help with the family,” West said. “At the age of 17, I left high school. At the age of 19, I earned my GED. Soon after that, I started my family. I have three awesome, beautiful daughters. ”

She supported her daughters as a single mother by working full time and going to school at night and on the weekend. When she had the extra money, West would play the lottery. The most she had ever won, previously, was $150.

At first, West’s daughters didn’t believe her, but now that the reality of her good fortune has sunk in, she and her family are determined to use the winnings responsibly. West had worked for a health insurance company, but she retired after learning she’d won the lottery. She plans to buy herself a car to replace her Ford Fiesta, which has 142,000 miles on it.

She says she’ll give to friends and family, and set money aside for her grandchildren to go to college. She has also established The Callum Foundation, which is named after her late grandson who was born prematurely. According to the organization’s website, The Callum Foundation provides grants to individuals and organizations in order to address issues such as “poverty and hunger, education, animal welfare and veteran affairs.”

“I want you to know that as I stand here today I know the responsibility that I have to do good with this money,” she said, fighting back tears. “My life is changed forever.”

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Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: abigail hess, courtesy of the iowa lottery
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Take-Two CEO on ‘Red Dead Redemption 2’ sales

Take-Two CEO on ‘Red Dead Redemption 2’ sales2 Hours AgoJim Cramer sits down with Take-Two Interactive Software Chairman and CEO Strauss Zelnick to discuss the release of his video game company’s newest blockbuster.


Take-Two CEO on ‘Red Dead Redemption 2’ sales2 Hours AgoJim Cramer sits down with Take-Two Interactive Software Chairman and CEO Strauss Zelnick to discuss the release of his video game company’s newest blockbuster.
Take-Two CEO on ‘Red Dead Redemption 2’ sales Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, strauss, sits, red, software, video, sales2, zelnick, sales, release, redemption, taketwo, dead, ceo


Take-Two CEO on 'Red Dead Redemption 2' sales

Take-Two CEO on ‘Red Dead Redemption 2’ sales

2 Hours Ago

Jim Cramer sits down with Take-Two Interactive Software Chairman and CEO Strauss Zelnick to discuss the release of his video game company’s newest blockbuster.


Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, strauss, sits, red, software, video, sales2, zelnick, sales, release, redemption, taketwo, dead, ceo


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In 8 days, ‘Red Dead Redemption 2’ has already outpaced previous installment’s total sales, Take-Two CEO says

In 8 days, ‘Red Dead Redemption 2’ has already outpaced previous installment’s total sales, Take-Two CEO says8 Hours AgoJim Cramer sits down with Take-Two Interactive Software Chairman and CEO Strauss Zelnick to discuss the release of his video game company’s newest blockbuster.


In 8 days, ‘Red Dead Redemption 2’ has already outpaced previous installment’s total sales, Take-Two CEO says8 Hours AgoJim Cramer sits down with Take-Two Interactive Software Chairman and CEO Strauss Zelnick to discuss the release of his video game company’s newest blockbuster.
In 8 days, ‘Red Dead Redemption 2’ has already outpaced previous installment’s total sales, Take-Two CEO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, strauss, sits, red, total, software, video, previous, installments, says8, outpaced, days, zelnick, sales, redemption, taketwo, dead, ceo


In 8 days, 'Red Dead Redemption 2' has already outpaced previous installment's total sales, Take-Two CEO says

In 8 days, ‘Red Dead Redemption 2’ has already outpaced previous installment’s total sales, Take-Two CEO says

8 Hours Ago

Jim Cramer sits down with Take-Two Interactive Software Chairman and CEO Strauss Zelnick to discuss the release of his video game company’s newest blockbuster.


Company: cnbc, Activity: cnbc, Date: 2018-11-08
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Take-Two CEO: ‘Red Dead Redemption 2’ has already outpaced first game

In just eight days, Take-Two Interactive Software’s blockbuster Western-themed video game, “Red Dead Redemption 2,” has outpaced its predecessor’s total sales, Take-Two chief Strauss Zelnick told CNBC on Thursday. “In eight days, we’ve sold in 17 million units of ‘Red Dead Redemption 2.’ That’s more than we sold of the first ‘Red Dead Redemption’ in eight years,” Zelnick, chairman and CEO of the Rockstar Games parent, told Jim Cramer in an interview. “Oh, and by the way, the first ‘Red Dead Rede


In just eight days, Take-Two Interactive Software’s blockbuster Western-themed video game, “Red Dead Redemption 2,” has outpaced its predecessor’s total sales, Take-Two chief Strauss Zelnick told CNBC on Thursday. “In eight days, we’ve sold in 17 million units of ‘Red Dead Redemption 2.’ That’s more than we sold of the first ‘Red Dead Redemption’ in eight years,” Zelnick, chairman and CEO of the Rockstar Games parent, told Jim Cramer in an interview. “Oh, and by the way, the first ‘Red Dead Rede
Take-Two CEO: ‘Red Dead Redemption 2’ has already outpaced first game Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, told, red, weekend, outpaced, zelnick, ceo, way, redemption, times, taketwo, dead, game


Take-Two CEO: 'Red Dead Redemption 2' has already outpaced first game

In just eight days, Take-Two Interactive Software’s blockbuster Western-themed video game, “Red Dead Redemption 2,” has outpaced its predecessor’s total sales, Take-Two chief Strauss Zelnick told CNBC on Thursday.

“In eight days, we’ve sold in 17 million units of ‘Red Dead Redemption 2.’ That’s more than we sold of the first ‘Red Dead Redemption’ in eight years,” Zelnick, chairman and CEO of the Rockstar Games parent, told Jim Cramer in an interview. “Oh, and by the way, the first ‘Red Dead Redemption’ was a huge hit.”

“Red Dead Redemption 2” made headlines last week for its bombastic opening weekend. Take-Two called the $725 million in sales generated by the game “the single-biggest opening weekend in the history of entertainment.”

Noting that the game overshot even Take-Two’s internal expectations, Zelnick said on “Mad Money” that “Red Dead’s” Wild-West-style, action-adventure theme works well in times of extreme social sentiment.

“Westerns seem to find a place at certain times when the populous is feeling a certain way,” he told Cramer. “Typically, in really good times, often in really bad times — you can decide what kind of times these are — I will say that I think the sprawling universe that’s offered by Take-Two, the extraordinary opportunities to explore that universe and the deep and meaningful story combine with great gameplay to create a great experience.”

Take-Two’s second-quarter earnings results topped revenue expectations, helped by the release of “Red Dead” and by in-game consumer spending, which Zelnick said was up 28 percent year over year.

Qualms over Take-Two’s NBA 2K 2019 game — the next in its widely followed basketball franchise — were overblown, the CEO added, noting that net bookings were up 10 percent year over year and that it was still the “biggest-selling sports game” for 2018.

Shares of Take-Two fell 5.3 percent intraday on Thursday, sliding further in extended trading.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: elizabeth gurdus
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Education activists fall short in red states in midterm elections

In 2018, an eruption of national teacher strikes shuttered schools in deep-red states across America as educators walked off the job over low budgets and stagnant salaries. “With the upswing in teacher activism, it initially felt like there was this important shift toward education in the election. But, looking at the results, public opinion didn’t make a difference in the states where there were teacher strikes,” said Michael Hansen, a senior fellow at the Brookings Institution. Democratic chal


In 2018, an eruption of national teacher strikes shuttered schools in deep-red states across America as educators walked off the job over low budgets and stagnant salaries. “With the upswing in teacher activism, it initially felt like there was this important shift toward education in the election. But, looking at the results, public opinion didn’t make a difference in the states where there were teacher strikes,” said Michael Hansen, a senior fellow at the Brookings Institution. Democratic chal
Education activists fall short in red states in midterm elections Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: emma newburger, chona kasinger, bloomberg, getty images, anita snow
Keywords: news, cnbc, companies, red, activists, teachers, states, defeated, education, teacher, oklahoma, elections, republican, midterm, strikes, fall, short, governors, race


Education activists fall short in red states in midterm elections

In 2018, an eruption of national teacher strikes shuttered schools in deep-red states across America as educators walked off the job over low budgets and stagnant salaries. Then an unprecedented number of teachers ran for political office, aggressively championing public education reform.

But educator activism fell short in Tuesday’s elections.

“With the upswing in teacher activism, it initially felt like there was this important shift toward education in the election. But, looking at the results, public opinion didn’t make a difference in the states where there were teacher strikes,” said Michael Hansen, a senior fellow at the Brookings Institution.

Democratic challengers backed by teacher activists failed to unseat Republican governors in Arizona and Oklahoma, while ballot initiatives in Oklahoma and Utah were defeated. Though some key governor’s races fell their way, notably in Kansas, education activists say overall the victories were overshadowed by losses.

In the Oklahoma race for governor, Republican Kevin Stitt defeated Democrat Drew Edmondson, who promised to raise taxes to increase teacher pay, a plan Stitt rejected. Several teachers who ran for Oklahoma’s state house seats also lost.

Alberto Morejon, the middle-school social studies teacher who helped organize the statewide teacher walkout in Oklahoma, said “the results of the governor’s race was disappointing.” But he added, “We’ve taken a step in the right direction. We’re engaged and fighting back.”

In Arizona, which has some of the lowest school funding in the nation, teachers unions failed to oust Gov. Doug Ducey, a Republican who became a foil for activists during the walkouts. He defeated Democratic challenger and education professor David Garcia by a wide margin. During the race, both candidates claimed the mantle of education champion.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: emma newburger, chona kasinger, bloomberg, getty images, anita snow
Keywords: news, cnbc, companies, red, activists, teachers, states, defeated, education, teacher, oklahoma, elections, republican, midterm, strikes, fall, short, governors, race


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Here’s what changed in the new Fed statement

Kovacevich: Market will react negatively if Fed doesn’t hike rates in December 3 Hours Ago | 05:28This is a comparison of Thursday’s FOMC statement with the one issued after the Fed’s previous policymaking meeting on September 26. Text removed from the September statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both statements.


Kovacevich: Market will react negatively if Fed doesn’t hike rates in December 3 Hours Ago | 05:28This is a comparison of Thursday’s FOMC statement with the one issued after the Fed’s previous policymaking meeting on September 26. Text removed from the September statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both statements.
Here’s what changed in the new Fed statement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: michael sheetz
Keywords: news, cnbc, companies, statements, thursdays, text, rates, fed, heres, underlinedblack, red, react, previous, statement, changed, removed


Here's what changed in the new Fed statement

Kovacevich: Market will react negatively if Fed doesn’t hike rates in December 3 Hours Ago | 05:28

This is a comparison of Thursday’s FOMC statement with the one issued after the Fed’s previous policymaking meeting on September 26.

Text removed from the September statement is in red with a horizontal line through the middle.

Text appearing for the first time in the new statement is in red and underlined.

Black text appears in both statements.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: michael sheetz
Keywords: news, cnbc, companies, statements, thursdays, text, rates, fed, heres, underlinedblack, red, react, previous, statement, changed, removed


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Health experts propose a red meat tax to recoup $172 billion in health care-costs

Hundreds of billions of dollars could be put toward health-care costs every year if a tax was applied to red and processed meat, Oxford University researchers said Wednesday. A new study from the U.K. university said introducing a health tax on such products would offset health-care costs and prevent more than 220,000 deaths a year globally. As well as offsetting health-care costs, researchers said their proposed tax could lead to a 16 percent decline in the global consumption of processed meat.


Hundreds of billions of dollars could be put toward health-care costs every year if a tax was applied to red and processed meat, Oxford University researchers said Wednesday. A new study from the U.K. university said introducing a health tax on such products would offset health-care costs and prevent more than 220,000 deaths a year globally. As well as offsetting health-care costs, researchers said their proposed tax could lead to a 16 percent decline in the global consumption of processed meat.
Health experts propose a red meat tax to recoup $172 billion in health care-costs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: chloe taylor, kryssia campos, getty images
Keywords: news, cnbc, companies, costs, study, consumption, global, health, propose, recoup, carecosts, tax, meat, 172, red, billion, processed, experts, healthcare


Health experts propose a red meat tax to recoup $172 billion in health care-costs

Hundreds of billions of dollars could be put toward health-care costs every year if a tax was applied to red and processed meat, Oxford University researchers said Wednesday.

A new study from the U.K. university said introducing a health tax on such products would offset health-care costs and prevent more than 220,000 deaths a year globally.

Looking into optimal taxation levels for red and processed meats in nearly 150 countries and regions, researchers concluded that in high-income countries, red meat prices would need to be increased by more than 20 percent, while processed meats would need to more than double in price.

At those levels, the tax would collect $172 billion per year globally, covering 70 percent of the health care costs associated with their consumption. To fully cover those costs, the tax would need to be doubled.

Researchers estimated that in 2020, 2.4 million global deaths will be attributable to the consumption of red and processed meat — as well as a $285 billion health-care bill.

According to the World Health Organization, beef, lamb and pork are carcinogenic when eaten in processed forms, and possibly still carcinogenic when consumed unprocessed. The organization also links them to coronary heart disease, strokes and type 2 diabetes.

As well as offsetting health-care costs, researchers said their proposed tax could lead to a 16 percent decline in the global consumption of processed meat. Reducing the consumption of processed meat would also have a positive effect on climate change by reducing global greenhouse gas emissions by over 100 million tons, it said.

Marco Springmann, who led the study, said an overconsumption of red and processed meat had a negative economic impact on many countries.

“I hope that governments will consider introducing a health levy on red and processed meat as part of a range of measures to make healthy and sustainable decision-making easier for consumers,” he said in a press release Wednesday.

“Nobody wants governments to tell people what they can and can’t eat. However, our findings make it clear that the consumption of red and processed meat has a cost, not just to people’s health and to the planet, but also to the health care systems and the economy.”

Researchers who worked on the study likened their proposed tax to levies on other products that damage consumers’ health, such as tobacco, alcohol and sugar. However, with different laws in different jurisdictions a global meat tax would prove very hard to implement.

In recent years, several nations and states have introduced taxes on sugary soft drinks in an attempt to curb burdens on health systems.

The U.K. introduced a tax on high-sugar soft drinks in 2016, while efforts are being made in California to push through a levy on sugary sodas. While the United Nations has explicitly encouraged the adoption of such taxes, the repealing of a sugar tax in Cook County, Illinois, last year could slow efforts in other cities.


Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: chloe taylor, kryssia campos, getty images
Keywords: news, cnbc, companies, costs, study, consumption, global, health, propose, recoup, carecosts, tax, meat, 172, red, billion, processed, experts, healthcare


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