Huawei places ads in New Zealand newspapers saying 5G ban will hit customers

Huawei has taken out full-page commercials in New Zealand newspapers that compare banning the company from 5G networks to the sport of rugby without the country’s famous team. “5G without Huawei is like rugby without New Zealand,” the ad says, warning that “without Huawei, New Zealand will miss out on the most advanced 5G technology available, and consumers may end up paying more for it.” The ad appeared in newspapers and on websites including leading media outlets Stuff.co.nz and The New Zealan


Huawei has taken out full-page commercials in New Zealand newspapers that compare banning the company from 5G networks to the sport of rugby without the country’s famous team. “5G without Huawei is like rugby without New Zealand,” the ad says, warning that “without Huawei, New Zealand will miss out on the most advanced 5G technology available, and consumers may end up paying more for it.” The ad appeared in newspapers and on websites including leading media outlets Stuff.co.nz and The New Zealan
Huawei places ads in New Zealand newspapers saying 5G ban will hit customers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: chloe taylor, alvin chan, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, huawei, ad, cup, customers, ban, won, places, hit, world, zealands, saying, 5g, ads, rugby, newspapers, zealand


Huawei places ads in New Zealand newspapers saying 5G ban will hit customers

Huawei has taken out full-page commercials in New Zealand newspapers that compare banning the company from 5G networks to the sport of rugby without the country’s famous team.

“5G without Huawei is like rugby without New Zealand,” the ad says, warning that “without Huawei, New Zealand will miss out on the most advanced 5G technology available, and consumers may end up paying more for it.”

The ad appeared in newspapers and on websites including leading media outlets Stuff.co.nz and The New Zealand Herald this week.

New Zealand’s national rugby team the “All Blacks” have held an 89 percent win record since the 2011 World Cup, and have won the World Cup twice.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: chloe taylor, alvin chan, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, huawei, ad, cup, customers, ban, won, places, hit, world, zealands, saying, 5g, ads, rugby, newspapers, zealand


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Drugmakers invited to hearing on drug prices. Here’s what they’re saying

Drugmakers have been reluctant to agree to testify before Congress at what is shaping up to be a series of hostile hearings examining the industry’s drug pricing practices. None of the companies “invited” to speak at last week’s Senate Finance Committee hearing titled “Drug Pricing in America: A Prescription for Change, Part I” showed. But pharmaceutical companies are starting to come around this week, following some not-so-veiled threats by senators to “compel” their executives to testify, like


Drugmakers have been reluctant to agree to testify before Congress at what is shaping up to be a series of hostile hearings examining the industry’s drug pricing practices. None of the companies “invited” to speak at last week’s Senate Finance Committee hearing titled “Drug Pricing in America: A Prescription for Change, Part I” showed. But pharmaceutical companies are starting to come around this week, following some not-so-veiled threats by senators to “compel” their executives to testify, like
Drugmakers invited to hearing on drug prices. Here’s what they’re saying Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: berkeley lovelace jr, angelica lavito, drew angerer, getty images
Keywords: news, cnbc, companies, prescription, hearing, drug, heres, pricing, prices, companies, senate, saying, testify, theyre, pharmaceutical, invited, drugmakers, johnson


Drugmakers invited to hearing on drug prices. Here's what they're saying

Drugmakers have been reluctant to agree to testify before Congress at what is shaping up to be a series of hostile hearings examining the industry’s drug pricing practices.

None of the companies “invited” to speak at last week’s Senate Finance Committee hearing titled “Drug Pricing in America: A Prescription for Change, Part I” showed. But pharmaceutical companies are starting to come around this week, following some not-so-veiled threats by senators to “compel” their executives to testify, likely with subpoenaes.

Lawmakers released letters inviting executives from AbbVie, AstraZeneca, Bristol-Myers Squibb, Johnson & Johnson, Merck, Pfizer and Sanofi to testify later this month at the hearing: “Drug Pricing in America: A Prescription for Change, Part II.”

So far, four of the seven invited have said they will send their CEOs to Capitol Hill. The other drugmakers may not have a choice, however. Senate Finance Committee ranking member Sen. Ron Wyden, D-Ore., has stopped short of threatening to issue a subpoena, indicating that participation at the hearing isn’t entirely voluntary.

Here’s what the pharmaceutical companies are saying:


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: berkeley lovelace jr, angelica lavito, drew angerer, getty images
Keywords: news, cnbc, companies, prescription, hearing, drug, heres, pricing, prices, companies, senate, saying, testify, theyre, pharmaceutical, invited, drugmakers, johnson


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EU’s Tusk says there’ll be a ‘special place in hell’ for the UK’s Brexit proponents

Tusk says ‘special place in hell’ for Brexiteers with no plan 4 Hours Ago | 00:17European Council President Donald Tusk stunned a Brussels press conference Wednesday by saying he wondered what the “special place in hell” looked like for those who “promoted Brexit without even a sketch of a plan of how to carry it safely.” Tusk, whose role is to represent the leaders of the 28 EU member nations, was speaking after talks with Irish premier Leo Varadkar in Brussels. Varadkar was then caught saying


Tusk says ‘special place in hell’ for Brexiteers with no plan 4 Hours Ago | 00:17European Council President Donald Tusk stunned a Brussels press conference Wednesday by saying he wondered what the “special place in hell” looked like for those who “promoted Brexit without even a sketch of a plan of how to carry it safely.” Tusk, whose role is to represent the leaders of the 28 EU member nations, was speaking after talks with Irish premier Leo Varadkar in Brussels. Varadkar was then caught saying
EU’s Tusk says there’ll be a ‘special place in hell’ for the UK’s Brexit proponents Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: david reid
Keywords: news, cnbc, companies, therell, hell, saying, place, brexit, backstop, ireland, proponents, northern, tusk, uk, brussels, uks, plan, special, eus


EU's Tusk says there'll be a 'special place in hell' for the UK's Brexit proponents

Tusk says ‘special place in hell’ for Brexiteers with no plan 4 Hours Ago | 00:17

European Council President Donald Tusk stunned a Brussels press conference Wednesday by saying he wondered what the “special place in hell” looked like for those who “promoted Brexit without even a sketch of a plan of how to carry it safely.”

Tusk’s Twitter account, which states it is managed by his media team, then repeated the comments for clarity.

Tusk, whose role is to represent the leaders of the 28 EU member nations, was speaking after talks with Irish premier Leo Varadkar in Brussels.

Varadkar was then caught saying to Tusk that “they will give you terrible trouble for this” in an apparent reference to the U.K. press.

Tusk also reinforced the EU’s stance that the Withdrawal Agreement was “not open for renegotiation” and hoped that U.K. leader Theresa May’s visit to Brussels on Thursday had “a realistic suggestion on how to end the impasse.”

May is visiting Brussels in an attempt to seek further concessions from the rest of the EU over how Britain will exit the bloc next month. The main point of contention within the current plan is the “backstop agreement,” currently in place as a safety net to avoid the return of a physical border between the Republic of Ireland and Northern Ireland.

A physical border is considered dangerous as it could the reignite sectarian conflict in Northern Ireland that was largely ended towards the close of the 20th century.

But the backstop is seen as unacceptable to some U.K. lawmakers who worry it will be used to permanently attach Britain and Northern Ireland to the European Union.

Tusk said keeping peace in Ireland was a priority.

“We will not gamble with peace or put a sell-by date on reconciliation. This is why we insist on the backstop,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: david reid
Keywords: news, cnbc, companies, therell, hell, saying, place, brexit, backstop, ireland, proponents, northern, tusk, uk, brussels, uks, plan, special, eus


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Iraq’s president to Trump: don’t overburden us with your Iran issues

Iraqi President Barham Salih rebuffed President Donald Trump’s insistence on Sunday that the U.S. would maintain a military presence in Iraq to “watch Iran,” telling the American leader not to burden Iraqis with his own political drama. “Don’t overburden Iraq with your own issues… We are not part of the U.S. battle with Iran,” Salih said during an international forum in Baghdad, adding that he did not give Trump permission to use his country as a base to “watch Iran.” Trump expressed his inten


Iraqi President Barham Salih rebuffed President Donald Trump’s insistence on Sunday that the U.S. would maintain a military presence in Iraq to “watch Iran,” telling the American leader not to burden Iraqis with his own political drama. “Don’t overburden Iraq with your own issues… We are not part of the U.S. battle with Iran,” Salih said during an international forum in Baghdad, adding that he did not give Trump permission to use his country as a base to “watch Iran.” Trump expressed his inten
Iraq’s president to Trump: don’t overburden us with your Iran issues Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: natasha turak, presidency of iraq, handout, anadolu agency, jonathan ernst
Keywords: news, cnbc, companies, iraqs, going, trump, iran, watch, iraq, overburden, country, presence, dont, president, salih, saying, issues


Iraq's president to Trump: don't overburden us with your Iran issues

Iraqi President Barham Salih rebuffed President Donald Trump’s insistence on Sunday that the U.S. would maintain a military presence in Iraq to “watch Iran,” telling the American leader not to burden Iraqis with his own political drama.

“Don’t overburden Iraq with your own issues… We are not part of the U.S. battle with Iran,” Salih said during an international forum in Baghdad, adding that he did not give Trump permission to use his country as a base to “watch Iran.”

Trump expressed his intentions for continued a U.S. presence in the war-weary country during an interview with CBS aired Sunday, saying Iraq was “perfectly situated” to keep an eye on Iran and other countries in the region. The president had previously called for drawing down troop numbers in the country after having campaigned on ending years of U.S. warfare in the Middle East.

Iraq has long been characterized as a playing field for competing powers, with Iran enjoying significant influence in the majority-Shia country since the American invasion that ousted Saddam Hussein in 2003. The U.S., as well as its Gulf allies, view Iran’s fortified presence in Iraqi politics as a direct threat to their interests and to regional stability.

“We spent a fortune on building this incredible base, we might as well keep it,” Trump told CBS, alluding to the Ayn al-Asad Airbase in western Iraq. “And one of the reasons I want to keep it is because I want to be looking a little bit at Iran.”

He denied wanting to attack the Islamic Republic, however, saying, “All I want to do is be able to watch.”

“We’re going to keep watching and we’re going to keep seeing and if there’s trouble, if somebody is looking to do nuclear weapons or other things, we’re going to know it before they do,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: natasha turak, presidency of iraq, handout, anadolu agency, jonathan ernst
Keywords: news, cnbc, companies, iraqs, going, trump, iran, watch, iraq, overburden, country, presence, dont, president, salih, saying, issues


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Patriots and Rams players talk investments, Amazon, Apple and Warren Buffett

A distant second was Apple, mentioned by players on both teams. “Do not let people use FaceTime to spy on their friends and family,” referencing the well-publicized bug this week. Rams wide receiver Josh Reynolds chose Chick-fil-A, saying: “If I were the CEO, I’d have them open on Sundays.” Netflix was a big topic of discussion, as many players have a subscription and spend their free time watching. Players on both teams referenced Warren Buffett.


A distant second was Apple, mentioned by players on both teams. “Do not let people use FaceTime to spy on their friends and family,” referencing the well-publicized bug this week. Rams wide receiver Josh Reynolds chose Chick-fil-A, saying: “If I were the CEO, I’d have them open on Sundays.” Netflix was a big topic of discussion, as many players have a subscription and spend their free time watching. Players on both teams referenced Warren Buffett.
Patriots and Rams players talk investments, Amazon, Apple and Warren Buffett Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: eric chemi, jessica golden
Keywords: news, cnbc, companies, subscription, investments, players, talk, saying, week, patriots, warren, buffett, rams, apple, teams, win, amazon, price


Patriots and Rams players talk investments, Amazon, Apple and Warren Buffett

A distant second was Apple, mentioned by players on both teams. Blythe loves Apple products, but he did have a direct message for CEO Tim Cook. “Do not let people use FaceTime to spy on their friends and family,” referencing the well-publicized bug this week.

Other picks included Walmart, Ralph Lauren and Nike. Rams wide receiver Josh Reynolds chose Chick-fil-A, saying: “If I were the CEO, I’d have them open on Sundays.” He even admitted he ate some this week in Atlanta ahead of the big game.

Others see opportunity in energy. The Rams’ Gerald Everett said he’d like to run Chevron, saying: “Everybody’s not going to drive a Tesla, so the gas company will still be on top for a while.”

Some relied on personal experience. “Costco is arguably the greatest store in America,” said the Rams’ Brian Allen. “I have the highest membership you can have, so naturally I go once a week.” He added that he buys water bottles in bulk, and that in high school he and his friends would go there just to eat the food.

Netflix was a big topic of discussion, as many players have a subscription and spend their free time watching. Despite the recent price hike, nobody is planning to cancel their subscription. “I can swing that, but at some point if it’s 20 bucks it’ll definitely be annoying,” said Patriots defensive end John Simon, adding “but they’ve been upgrading their shows.” The Rams’ John Johnson agreed with the price hike, “I think it’s a good idea honestly, because people have been using it up.”

Players on both teams referenced Warren Buffett. Patriots kicker Stephen Gostkowski said he looked up to Buffett as a business inspiration, “he makes the right calls,” while Ndamukong Suh of the Rams said he talks with Buffett frequently and has some special investments coming. Teammate Allen wished he had bought Berkshire Hathaway shares years ago.

But there was one thing players on both teams agreed on. They’d all rather win the NFL championship game than any other measure of financial success. “Win the Super Bowl, for sure,” said Blythe.


Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: eric chemi, jessica golden
Keywords: news, cnbc, companies, subscription, investments, players, talk, saying, week, patriots, warren, buffett, rams, apple, teams, win, amazon, price


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DoubleLine CEO Gundlach says Fed’s Powell is ‘caving to the stock market’

Fragile equity markets forced Federal Reserve Chairman Jerome Powell to pledge on Wednesday that the U.S. central bank will be patient with future interest rate hikes, said DoubleLine Capital Chief Executive Jeffrey Gundlach. The stock market scared him,” in late 2018, Gundlach, who oversees $123 billion, said in a phone interview with Reuters. Powell, citing rising uncertainty about the U.S. economic outlook, said the case for raising rates had “weakened,” and the U.S. central bank in a post-me


Fragile equity markets forced Federal Reserve Chairman Jerome Powell to pledge on Wednesday that the U.S. central bank will be patient with future interest rate hikes, said DoubleLine Capital Chief Executive Jeffrey Gundlach. The stock market scared him,” in late 2018, Gundlach, who oversees $123 billion, said in a phone interview with Reuters. Powell, citing rising uncertainty about the U.S. economic outlook, said the case for raising rates had “weakened,” and the U.S. central bank in a post-me
DoubleLine CEO Gundlach says Fed’s Powell is ‘caving to the stock market’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: heidi gutman
Keywords: news, cnbc, companies, gundlach, bank, doubleline, say, market, future, stock, sheet, ceo, feds, central, saying, caving, powell, wednesdays, fed


DoubleLine CEO Gundlach says Fed's Powell is 'caving to the stock market'

Fragile equity markets forced Federal Reserve Chairman Jerome Powell to pledge on Wednesday that the U.S. central bank will be patient with future interest rate hikes, said DoubleLine Capital Chief Executive Jeffrey Gundlach.

“He’s caving to the stock market. The stock market scared him,” in late 2018, Gundlach, who oversees $123 billion, said in a phone interview with Reuters.

Powell, citing rising uncertainty about the U.S. economic outlook, said the case for raising rates had “weakened,” and the U.S. central bank in a post-meeting statement dropped its earlier expectation for “some further” tightening.

The Fed also shifted to a more dovish stance toward its ongoing shedding of assets, saying it was prepared to adjust its plans based on economic and financial developments.

Powell, speaking to reporters after the end of the Fed’s latest two-day policy meeting, said the central bank would likely stop trimming its $4.1 trillion balance sheet sooner, leaving it with more assets than previously expected.

“Even though they won’t say so, this shows that Quantitative Tightening will be slowed down,” Gundlach said. “And if need be, the Fed will expand the balance sheet. QE (Quantitative Easing) is the ‘unnamed’ other policy tool he referenced in case lowering the Fed funds rate proves not to be enough to strengthen the economy/markets.”

But the DoubleLine chief has also warned it is possible that the U.S. economy could slow to near recession-level growth later this year.

“The most recessionary signal at present is consumer future expectations relative to current conditions. Its one of the worst readings ever,” Gundlach tweeted on Tuesday.

In Wednesday’s interview, Gundlach told Reuters the consumer future expectations data is “flat-out bright red bells ringing.”

One of the “morning binge-party after effects” from Wednesday’s strong stock-market rally is “not knowing what the plan really is,” Gundlach said.

“Powell is basically saying, I am going back into a foxhole and then decide what the next move is. Powell said ‘I dont want to say anything and I dont want to get pinned down as I did before.’ Because it got embarrassing.” (Reporting by Jennifer Ablan; editing by Bill Berkrot and G Crosse)


Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: heidi gutman
Keywords: news, cnbc, companies, gundlach, bank, doubleline, say, market, future, stock, sheet, ceo, feds, central, saying, caving, powell, wednesdays, fed


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Gary Cohn says a wealth tax would be ‘harmful’ to the economy

“It would be harmful to the economy,” Cohn said in an interview with Leslie Picker on CNBC’s “Closing Bell.” “I’m not saying that collecting more tax revenue is harmful to the economy,” Cohn said. Cohn is the latest wealthy financier to warn about the potential risks of raising taxes on the wealthy. “The U.S. tax code is very, very complicated,” Cohn said on the sidelines of the Context Summits conference in Miami. “The vast majority of people work for pass-through entities, which is really part


“It would be harmful to the economy,” Cohn said in an interview with Leslie Picker on CNBC’s “Closing Bell.” “I’m not saying that collecting more tax revenue is harmful to the economy,” Cohn said. Cohn is the latest wealthy financier to warn about the potential risks of raising taxes on the wealthy. “The U.S. tax code is very, very complicated,” Cohn said on the sidelines of the Context Summits conference in Miami. “The vast majority of people work for pass-through entities, which is really part
Gary Cohn says a wealth tax would be ‘harmful’ to the economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: hugh son, kristoffer tripplaar, the washington post, getty images
Keywords: news, cnbc, companies, taxes, saying, trump, wealth, tax, cohn, spent, code, gary, economy, raising, harmful, wealthy


Gary Cohn says a wealth tax would be 'harmful' to the economy

Raising taxes on wealthy Americans would ultimately hurt the U.S. economy, according to Gary Cohn, the former Goldman Sachs president who served 14 months as President Donald Trump’s chief economic advisor.

“It would be harmful to the economy,” Cohn said in an interview with Leslie Picker on CNBC’s “Closing Bell.”

“I’m not saying that collecting more tax revenue is harmful to the economy,” Cohn said. “I’m saying we have to compete in a global theater.”

Cohn is the latest wealthy financier to warn about the potential risks of raising taxes on the wealthy. When asked about proposals by Rep. Alexandria Ocasio-Cortez, D-N.Y., and Sen. Elizabeth Warren, D-Mass., to boost taxes on income or assets, Cohn launched into an explanation of the U.S. tax code. The former banker had helped oversee the president’s corporate tax overhaul that became law at the start of 2018.

“The U.S. tax code is very, very complicated,” Cohn said on the sidelines of the Context Summits conference in Miami. “I spent over a year with almost every waking hour in the tax code.”

He then suggested that raising personal taxes could make businesses that operate as pass-through entities disadvantaged versus corporations.

“The vast majority of people work for pass-through entities, which is really part of the personal income tax code; it’s a hybrid,” Cohn said. “We’ve got to make a level playing field for everyone in the system.”

Meanwhile, J.P. Morgan Chase CEO Jamie Dimon said today that he had “no problem paying higher taxes” if the money is spent wisely to “help address some of the fundamental challenges and inequities in our society.”

Cohn, 58, spent more than 25 years at Goldman Sachs, rising to become former CEO Lloyd Blankfein’s right-hand man in 2006.

Cohn left the New York-based investment bank in 2017 to become director of the National Economic Council for Trump. But Cohn reportedly disagreed with Trump on tariffs and left the administration in April.


Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: hugh son, kristoffer tripplaar, the washington post, getty images
Keywords: news, cnbc, companies, taxes, saying, trump, wealth, tax, cohn, spent, code, gary, economy, raising, harmful, wealthy


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Jefferies upgrades BlackRock to buy, says valuation is most attractive in four years

Jefferies upgraded BlackRock to buy from hold on Tuesday, saying its valuation provides a “rare” entry point. The bank said BlackRock’s risk reward is the most attractive in four years after the asset manager posted a record level of inflows into its exchange-traded funds in the fourth quarter.


Jefferies upgraded BlackRock to buy from hold on Tuesday, saying its valuation provides a “rare” entry point. The bank said BlackRock’s risk reward is the most attractive in four years after the asset manager posted a record level of inflows into its exchange-traded funds in the fourth quarter.
Jefferies upgrades BlackRock to buy, says valuation is most attractive in four years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: yun li, drew angerer, getty images, david paul morris, bloomberg, patrick t fallon, tom strickland, scott mlyn, chip chipman, victor j blue
Keywords: news, cnbc, companies, rare, upgrades, quarter, provides, posted, saying, attractive, jefferies, upgraded, risk, reward, blackrock, valuation, record, buy


Jefferies upgrades BlackRock to buy, says valuation is most attractive in four years

Jefferies upgraded BlackRock to buy from hold on Tuesday, saying its valuation provides a “rare” entry point.

The bank said BlackRock’s risk reward is the most attractive in four years after the asset manager posted a record level of inflows into its exchange-traded funds in the fourth quarter.


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: yun li, drew angerer, getty images, david paul morris, bloomberg, patrick t fallon, tom strickland, scott mlyn, chip chipman, victor j blue
Keywords: news, cnbc, companies, rare, upgrades, quarter, provides, posted, saying, attractive, jefferies, upgraded, risk, reward, blackrock, valuation, record, buy


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Democratic donors slam Howard Schultz for flirting with an independent 2020 campaign

Former Starbucks CEO Howard Schultz might run for president — Here’s what three experts think about his chances 2 Hours Ago | 02:42Top Democratic donors in New York aren’t happy with former Starbucks chairman and CEO Howard Schultz for saying he was “seriously thinking about running for president” as a “centrist independent.” “This is a pathetic vanity project, and Howard Schultz better start laying off the espresso,” Robert Zimmerman, a leading party bundler, told CNBC on Monday. “I would not t


Former Starbucks CEO Howard Schultz might run for president — Here’s what three experts think about his chances 2 Hours Ago | 02:42Top Democratic donors in New York aren’t happy with former Starbucks chairman and CEO Howard Schultz for saying he was “seriously thinking about running for president” as a “centrist independent.” “This is a pathetic vanity project, and Howard Schultz better start laying off the espresso,” Robert Zimmerman, a leading party bundler, told CNBC on Monday. “I would not t
Democratic donors slam Howard Schultz for flirting with an independent 2020 campaign Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: brian schwartz, pier marco tacca, getty images
Keywords: news, cnbc, companies, donors, schultz, democratic, president, trump, flirting, howard, york, independent, starbucks, urban, run, campaign, slam, saying, 2020


Democratic donors slam Howard Schultz for flirting with an independent 2020 campaign

Former Starbucks CEO Howard Schultz might run for president — Here’s what three experts think about his chances 2 Hours Ago | 02:42

Top Democratic donors in New York aren’t happy with former Starbucks chairman and CEO Howard Schultz for saying he was “seriously thinking about running for president” as a “centrist independent.”

As Schultz prepares to hold his book tour’s first leg in New York just after he announced his presidential aspirations, Democratic financiers and strategists in the city are already criticizing his potential campaign.

“This is a pathetic vanity project, and Howard Schultz better start laying off the espresso,” Robert Zimmerman, a leading party bundler, told CNBC on Monday. “I would not take lightly the inevitable hashtags popping up saying ‘no Starbucks, no Schultz.'”

Some members of the New York donor class, including on Wall Street, are casting doubt on whether Schultz will even run. Some argue the move would cost the Democratic Party in its 2020 battle with President Donald Trump — and hurt the Starbucks brand.

The perceived potential for Schultz inadvertently helping Trump has already triggered some calls for action against the company, with social media hashtags such as “Boycott Starbucks” making the rounds on Twitter.

Nathan Lerner, co-founder of Draft Beto, a group looking to persuade former Rep. Beto O’Rourke to run for president, said in a tweet that he would be boycotting Starbucks. Lerner threatened to protest at Starbucks stores if Schultz were to run as an independent.

Orin Kramer, a New York hedge fund manager who backed Barack Obama and Hillary Clinton for president, believes that a Schultz independent candidacy will anger urban voters who dislike Trump and will lead to them walking away from buying their coffee at Starbucks.

“Wouldn’t want to own Starbucks if he did it,” Kramer said in an interview. “Starbucks is disproportionately in urban areas, and 40 percent of urban areas hate this guy [Trump]. “This guy is giving Trump a gift, and there is no contrary interpretation.”


Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: brian schwartz, pier marco tacca, getty images
Keywords: news, cnbc, companies, donors, schultz, democratic, president, trump, flirting, howard, york, independent, starbucks, urban, run, campaign, slam, saying, 2020


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Hedge fund manager Einhorn explains why he lost more than 30% last year: ‘Nothing went right’

“Nothing went right for the entire year,” Einhorn said in the letter to investors. However, Einhorn’s hedge funds underperformed the market drastically — the S&P 500 ended 2018 down just 6 percent. In the letter, Einhorn also reviewed his current positions that are 5 percent or larger, saying “they should all do better in 2019.” Einhorn is also shorting Tesla, saying the electric-car maker is in “such a bizarre situation,” and its estimates are optimistic. — With reporting by CNBC’s Scott Wapner


“Nothing went right for the entire year,” Einhorn said in the letter to investors. However, Einhorn’s hedge funds underperformed the market drastically — the S&P 500 ended 2018 down just 6 percent. In the letter, Einhorn also reviewed his current positions that are 5 percent or larger, saying “they should all do better in 2019.” Einhorn is also shorting Tesla, saying the electric-car maker is in “such a bizarre situation,” and its estimates are optimistic. — With reporting by CNBC’s Scott Wapner
Hedge fund manager Einhorn explains why he lost more than 30% last year: ‘Nothing went right’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: yun li, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, tesla, right, funds, explains, 2018, went, current, 30, saying, fund, risk, positions, manager, lost, politicians, einhorn, hedge


Hedge fund manager Einhorn explains why he lost more than 30% last year: 'Nothing went right'

“Nothing went right for the entire year,” Einhorn said in the letter to investors. “In 2018, the losses were a mile wide and a yard deep. It’s much easier to explain results when they are driven by large moves in a few names. It’s much harder when the answer is a lot of everything. But today, it feels more like a combination of a few where we were wrong, a difficult environment for value investing, and a lot of adverse variance.”

Einhorn’s collapse came in a dismal year when stocks and other risk assets took a hit from the ongoing trade battles and slowing global growth. However, Einhorn’s hedge funds underperformed the market drastically — the S&P 500 ended 2018 down just 6 percent. His funds have been lackluster since 2015 when they lost more than 20 percent. They returned 7 percent in 2016 and 1.5 percent in 2017.

The underperformance in 2018 has inevitably led to “substantial redemptions,” which forced Einhorn to reopen the funds to gain additional capital. Einhorn had not allowed new investments in four years.

“At this point, we no longer believe there is risk of our assets growing too quickly (other than through improved performance), so for those interested in investing, the answer will now be yes,” Einhorn said.

The downturn sharply contrasted with Einhorn’s early years, when he scored some of Wall Street’s best returns including 24 percent in 2006 and 32 percent in 2009. Einhorn also made the most prescient call of the entire financial crisis — the collapse of Lehman Brothers.

In the letter, Einhorn also reviewed his current positions that are 5 percent or larger, saying “they should all do better in 2019.”

Greenlight’s current long positions include General Motors, insurer Brighthouse Financial and homebuilder Green Brick Partners, which all struggled in 2018, bleeding as much as 47 percent. Einhorn is also shorting Tesla, saying the electric-car maker is in “such a bizarre situation,” and its estimates are optimistic.

The hedge fund manager is also using gold as a hedge against “imprudent” global fiscal and monetary policies as the national debt has ballooned to more than $2 trillion under the current administration.

“When the economy eventually slows, the deficit is sure to expand rapidly, possibly catastrophically. The politicians say deficits don’t matter. History says otherwise,” Einhorn said.

His firm also has “a bit of a macro hedge in case the politicians and central bankers continue to act irresponsibly — which seems like a safe bet,” he added. Einhorn did not disclose what the hedge was.

— With reporting by CNBC’s Scott Wapner

WATCH: Greelight’s David Einhorn compares Tesla to Lehman Brothers


Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: yun li, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, tesla, right, funds, explains, 2018, went, current, 30, saying, fund, risk, positions, manager, lost, politicians, einhorn, hedge


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