UK to send new aircraft carrier loaded with F35 jets into South China Sea

The United Kingdom will deploy its new aircraft carrier, loaded with two squadrons of F-35 aircraft into the politically-fraught South China Sea. British Defense Minister Gavin Williamson confirmed in a speech Monday morning that the Royal Navy’s HMS Queen Elizabeth will sail into waters that are the subject of dispute between China and other nations. The £3 billion ($3.9 billion) carrier’s outing will also sail into the Middle East and Mediterranean and will be officially a mixed U.K./U.S. Enha


The United Kingdom will deploy its new aircraft carrier, loaded with two squadrons of F-35 aircraft into the politically-fraught South China Sea. British Defense Minister Gavin Williamson confirmed in a speech Monday morning that the Royal Navy’s HMS Queen Elizabeth will sail into waters that are the subject of dispute between China and other nations. The £3 billion ($3.9 billion) carrier’s outing will also sail into the Middle East and Mediterranean and will be officially a mixed U.K./U.S. Enha
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Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: david reid, royal navy, us air force photo, vcg, getty images
Keywords: news, cnbc, companies, billion, loaded, uk, carrier, royal, minister, williamson, send, south, jets, lethality, carriers, defense, f35, sail, sea, united, china, aircraft


UK to send new aircraft carrier loaded with F35 jets into South China Sea

The United Kingdom will deploy its new aircraft carrier, loaded with two squadrons of F-35 aircraft into the politically-fraught South China Sea.

British Defense Minister Gavin Williamson confirmed in a speech Monday morning that the Royal Navy’s HMS Queen Elizabeth will sail into waters that are the subject of dispute between China and other nations.

At an address given to the Royal United Services Institute (RUSI) in London, Williamson said Britain was the second largest investor in the region and it must display “hard power” and “lethality” to help protect interests.

The £3 billion ($3.9 billion) carrier’s outing will also sail into the Middle East and Mediterranean and will be officially a mixed U.K./U.S. deployment.

“Significantly British and American F-35s will be embedded in the carrier’s air wing. Enhancing the reach and lethality of our forces (and) reinforcing the fact that United States remains the very closest of partners,” Williamson said.

The U.K. defense minister did not confirm exact dates for the mission.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: david reid, royal navy, us air force photo, vcg, getty images
Keywords: news, cnbc, companies, billion, loaded, uk, carrier, royal, minister, williamson, send, south, jets, lethality, carriers, defense, f35, sail, sea, united, china, aircraft


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China naval gun ready for warfare by 2025: US intelligence

US intelligence: China will have world’s most powerful naval gun ready by 2025 4:50 PM ET Thu, 21 June 2018 | 00:39The development comes at a moment when tensions between China and the U.S. are already high, underscored by crucial trade talks that were scheduled to move to Washington on Wednesday. The rounds used in China’s railgun cost $25,000 to $50,000 each, according to the intelligence assessment. The U.S. Navy’s railgun, which is years away from being operational, remains a classified syst


US intelligence: China will have world’s most powerful naval gun ready by 2025 4:50 PM ET Thu, 21 June 2018 | 00:39The development comes at a moment when tensions between China and the U.S. are already high, underscored by crucial trade talks that were scheduled to move to Washington on Wednesday. The rounds used in China’s railgun cost $25,000 to $50,000 each, according to the intelligence assessment. The U.S. Navy’s railgun, which is years away from being operational, remains a classified syst
China naval gun ready for warfare by 2025: US intelligence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: amanda macias, mark ralston, afp, getty images
Keywords: news, cnbc, companies, railgun, ready, systems, rounds, washington, china, sea, intelligence, south, warfare, naval, 2025, weapons, gun, trade


China naval gun ready for warfare by 2025: US intelligence

US intelligence: China will have world’s most powerful naval gun ready by 2025 4:50 PM ET Thu, 21 June 2018 | 00:39

The development comes at a moment when tensions between China and the U.S. are already high, underscored by crucial trade talks that were scheduled to move to Washington on Wednesday.

Railguns use electromagnetic energy instead of gunpowder to propel rounds, and China’s is capable of striking a target 124 miles away at speeds of up to 1.6 miles per second, according to the people who have knowledge of the intelligence report. For perspective, a shot fired from Washington could reach Philadelphia in under 90 seconds.

Railguns have long appeared on Russian, Iranian and U.S. military wish lists as cost-effective weapons that give navies the might of a cannon with the range of a precision-guided missile.

The rounds used in China’s railgun cost $25,000 to $50,000 each, according to the intelligence assessment. Though not an exact comparison since the weapons have different technologies, the U.S. Navy’s Tomahawk cruise missile has an estimated price tag of $1.4 million each.

The U.S. Navy’s railgun, which is years away from being operational, remains a classified system still in development under the Office of Naval Research.

China’s sprint to develop a weapon of this magnitude, coupled with coastal defense systems, represents a significant addition to Beijing’s military arsenal in one of the most contested regions of the world: the South China Sea.

In May, CNBC learned that China quietly installed anti-ship cruise missiles and surface-to-air missile systems on three of its fortified outposts west of the Philippines in the sea, a move that allows Beijing to further project its power in the hotly disputed waters.

Home to more than 200 specks of land, the South China Sea serves as a gateway to global shipping routes where $3.4 trillion of trade passes annually.

The numerous overlapping sovereign claims to islands, reefs and rocks — many of which disappear under high tide — have turned the waters into an armed camp. Beijing holds the lion’s share of these features with about 27 outposts.

WATCH: Russia and China developing ‘destructive’ space weapons


Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: amanda macias, mark ralston, afp, getty images
Keywords: news, cnbc, companies, railgun, ready, systems, rounds, washington, china, sea, intelligence, south, warfare, naval, 2025, weapons, gun, trade


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A bankruptcy in the Philippines sparks concerns of Chinese firms taking over a former US naval base

In the Philippines, a major corporate bankruptcy has sparked national security concerns about whether a port near the disputed South China Sea could fall under Beijing’s control. Philippine officials are currently exploring ways to take over a shipyard located at a former U.S. naval base known as Subic Bay to prevent Chinese companies from buying the site. Officials, including the defense secretary, have expressed concerns of a Chinese presence in the area, even if it’s a commercial one. Hanjin


In the Philippines, a major corporate bankruptcy has sparked national security concerns about whether a port near the disputed South China Sea could fall under Beijing’s control. Philippine officials are currently exploring ways to take over a shipyard located at a former U.S. naval base known as Subic Bay to prevent Chinese companies from buying the site. Officials, including the defense secretary, have expressed concerns of a Chinese presence in the area, even if it’s a commercial one. Hanjin
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Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: nyshka chandran, ted aljibe afp getty images
Keywords: news, cnbc, companies, shipyard, sparks, firms, bankruptcy, chinese, south, naval, sea, loans, korean, taking, industries, help, subic, base, philippines, million, concerns


A bankruptcy in the Philippines sparks concerns of Chinese firms taking over a former US naval base

In the Philippines, a major corporate bankruptcy has sparked national security concerns about whether a port near the disputed South China Sea could fall under Beijing’s control.

Philippine officials are currently exploring ways to take over a shipyard located at a former U.S. naval base known as Subic Bay to prevent Chinese companies from buying the site.

Officials, including the defense secretary, have expressed concerns of a Chinese presence in the area, even if it’s a commercial one. Those worries come against the backdrop of China’s growing aggression in the South China Sea and Beijing previously seizing neighboring islands in the area that are claimed by Manila.

Hanjin Heavy Industries and Construction Philippines has been operating an industrial shipyard in Subic Bay for years. But the company, a shipbuilding unit of South Korean firm Hanjin Heavy Industries and Construction, declared bankruptcy in January after defaulting on loans of over $400 million from Philippine banks. It is believed to be one of the largest corporate defaults in Philippine history and puts thousands of local jobs at risk.

Hanjin Philippines has asked the Manila government to help find investors willing to take over its shipyard operations and help its staff, according to the official Philippine News Agency. The company also has outstanding loans of $900 million from South Korean banks.


Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: nyshka chandran, ted aljibe afp getty images
Keywords: news, cnbc, companies, shipyard, sparks, firms, bankruptcy, chinese, south, naval, sea, loans, korean, taking, industries, help, subic, base, philippines, million, concerns


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Top US Navy officer to visit China amid heightened tensions

The U.S. Navy’s top officer will visit China starting Sunday amid increasing frictions in the South China Sea and other tensions underscoring their rivalry for dominance in Asia. The goal of the visit, Richardson’s second as head of operations, is to “continue a results-oriented, risk reduction focused dialogue” between the two militaries, the Navy said. In recent years, the South China Sea has become the main area of contention, home to islands, rich fishing grounds, undersea mineral deposits a


The U.S. Navy’s top officer will visit China starting Sunday amid increasing frictions in the South China Sea and other tensions underscoring their rivalry for dominance in Asia. The goal of the visit, Richardson’s second as head of operations, is to “continue a results-oriented, risk reduction focused dialogue” between the two militaries, the Navy said. In recent years, the South China Sea has become the main area of contention, home to islands, rich fishing grounds, undersea mineral deposits a
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Company: cnbc, Activity: cnbc, Date: 2019-01-12  Authors: visual china group, getty images, vcg
Keywords: news, cnbc, companies, china, richardson, navy, heightened, amid, risk, operations, release, officer, shen, sea, south, tensions, visit


Top US Navy officer to visit China amid heightened tensions

The U.S. Navy’s top officer will visit China starting Sunday amid increasing frictions in the South China Sea and other tensions underscoring their rivalry for dominance in Asia.

Chief of Naval Operations Adm. John Richardson will meet with his counterpart Vice Adm. Shen Jinlong and leaders of China’s Central Military Commission during his visit to Beijing and the eastern city of Nanjing lasting through Wednesday, the Navy said.

The goal of the visit, Richardson’s second as head of operations, is to “continue a results-oriented, risk reduction focused dialogue” between the two militaries, the Navy said.

“A routine exchange of views is essential, especially in times of friction, in order to reduce risk and avoid miscalculation,” the release quoted Richardson as saying. “Honest and frank dialogue can improve the relationship in constructive ways, help explore areas where we share common interests, and reduce risk while we work through our differences.”

Richardson and Shen met previously at the 2018 International Seapower Symposium in the U.S. and have held three discussions via video teleconference, the most recent in December, the release said.

China has long chafed at the robust U.S. naval presence in its region, seeing that as a key component of a strategy to contain its development.

In recent years, the South China Sea has become the main area of contention, home to islands, rich fishing grounds, undersea mineral deposits and shipping lanes through which pass an estimated $5 trillion in goods annually. China claims virtually the entire waterway on historical grounds and has strengthened its hold through the fortification of its island holdings and the construction and man-made outposts by piling sand and concrete atop coral reefs.

Five other governments also exercise overlapping claims in the area and while the U.S. takes no formal position on sovereignty, it insists on the right to navigation and overflight, including in air and waters within the territorial limits surrounding China’s holdings.

Such freedom of navigation operations intended to assert such rights have enraged China, which has vowed to take whatever measures to thwart them.

While those usually involve the dispatch of ships and aircraft to warn off U.S. vessels, in late September, a Chinese destroyer came perilously close to the USS Decatur in the South China Sea in what the U.S. Navy called an “unsafe and unprofessional maneuver.” Navy officers downplayed the incident, calling it unfortunate, rare and something they’d like to avoid in future.

Richardson has said such patrols highlight the U.S. position against “illegitimate maritime claims.”

Chinese navy academy researcher Senior Captain Zhang Junshe said Wednesday that Beijing may further fortify the outposts depending on perceived threats.

While the sides have sought to boost understanding and signed agreements to handle unexpected confrontations at air and sea, deep mistrust lingers.


Company: cnbc, Activity: cnbc, Date: 2019-01-12  Authors: visual china group, getty images, vcg
Keywords: news, cnbc, companies, china, richardson, navy, heightened, amid, risk, operations, release, officer, shen, sea, south, tensions, visit


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This gorgeous island in the Tasman Sea only allows 400 vistors per night: Take a look

Home to around 380 people, there are only 400 licensed tourist beds on Lord Howe, meaning only a limited number of visitors can take a trip to the island at any given time. As a result, the island’s tourist accommodations are mainly bed and breakfasts and cottages. The cap is controlled by “bed licenses,” issued by Lord Howe’s governing board. (Only 400 bed licenses are doled out per year, and they’re reportedly pricey, costing up to $100,000 each, according to Islands, an online travel publicat


Home to around 380 people, there are only 400 licensed tourist beds on Lord Howe, meaning only a limited number of visitors can take a trip to the island at any given time. As a result, the island’s tourist accommodations are mainly bed and breakfasts and cottages. The cap is controlled by “bed licenses,” issued by Lord Howe’s governing board. (Only 400 bed licenses are doled out per year, and they’re reportedly pricey, costing up to $100,000 each, according to Islands, an online travel publicat
This gorgeous island in the Tasman Sea only allows 400 vistors per night: Take a look Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: sarah berger, whitworth images, getty images, southern lightscapes-australia
Keywords: news, cnbc, companies, tasman, night, howe, bed, tourist, gorgeous, 400, lord, look, island, world, cap, licenses, allows, sea, reportedly, vistors, islands


This gorgeous island in the Tasman Sea only allows 400 vistors per night: Take a look

Home to around 380 people, there are only 400 licensed tourist beds on Lord Howe, meaning only a limited number of visitors can take a trip to the island at any given time. As a result, the island’s tourist accommodations are mainly bed and breakfasts and cottages. There are just a handful of hotels.

The cap is controlled by “bed licenses,” issued by Lord Howe’s governing board. (Only 400 bed licenses are doled out per year, and they’re reportedly pricey, costing up to $100,000 each, according to Islands, an online travel publication.)

The tourist cap was one of several measures put in place to protect the island’s delicate ecosystem, which is instrumental in conserving threatened species on the island, especially birds (like the flightless Lord Howe Woodhen, which was reportedly once regarded as one of the rarest birds in the world). Lord Howe Island was listed as a UNESCO World Heritage property in 1982.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: sarah berger, whitworth images, getty images, southern lightscapes-australia
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Tough South China Sea talks ahead as Vietnam seeks to curb China’s actions

Tough negotiations lie ahead over a new pact between China and Southeast Asian nations aimed at easing tensions in the South China Sea, as Vietnam pushes for provisions likely to prove unpalatable to Beijing, documents reviewed by Reuters suggest. The draft also shows Hanoi is pushing for a ban on any new Air Defence Identification Zone – something Beijing unilaterally announced over the East China Sea in 2013. Chinese officials have not ruled out a similar move, in which all aircraft are suppos


Tough negotiations lie ahead over a new pact between China and Southeast Asian nations aimed at easing tensions in the South China Sea, as Vietnam pushes for provisions likely to prove unpalatable to Beijing, documents reviewed by Reuters suggest. The draft also shows Hanoi is pushing for a ban on any new Air Defence Identification Zone – something Beijing unilaterally announced over the East China Sea in 2013. Chinese officials have not ruled out a similar move, in which all aircraft are suppos
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Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: ted aljibe, afp, getty images
Keywords: news, cnbc, companies, china, ahead, talks, law, sea, conduct, south, chinas, seeks, tough, foreign, draft, ministry, code, vietnam, curb


Tough South China Sea talks ahead as Vietnam seeks to curb China's actions

Tough negotiations lie ahead over a new pact between China and Southeast Asian nations aimed at easing tensions in the South China Sea, as Vietnam pushes for provisions likely to prove unpalatable to Beijing, documents reviewed by Reuters suggest.

Hanoi wants the pact to outlaw many of the actions China has carried out across the hotly disputed waterway in recent years, including artificial island building, blockades and offensive weaponry such as missile deployments, according to a negotiating draft of the ASEAN Code of Conduct (COC) seen by Reuters.

The draft also shows Hanoi is pushing for a ban on any new Air Defence Identification Zone – something Beijing unilaterally announced over the East China Sea in 2013. Chinese officials have not ruled out a similar move, in which all aircraft are supposed to identify themselves to Chinese authorities, over the South China Sea.

Hanoi is also demanding states clarify their maritime claims in the vital trade route according to international law – an apparent attempt to shatter the controversial “nine-dash line” by which China claims and patrols much of the South China Sea, the draft shows.

“Going forward, there will be some very testy exchanges between the Vietnamese and China in particular over the text of this agreement,” said Singapore-based Ian Storey, a veteran South China Sea expert, who has seen the draft.

“Vietnam is including those points or activities that they want forbidden by the Code of Conduct precisely because China has been carrying these out for the last 10 years.”

Le Thi Thu Hang, a spokeswoman at the Vietnam Foreign Ministry, said negotiations on the Code of Conduct had made some progress recently, with Vietnam actively participating and other countries showing “their constructive and cooperative spirit”.

“Vietnam wishes related countries to continue their efforts and make a positive contribution to the negotiation process in order to achieve a substantive and effective COC in accordance with international law, especially the 1982 UN Convention on the Law of the Sea, contributing to the maintenance of peace, stability and security in the East Sea (South China Sea) in particular and in the region in general,” she said.

Singapore’s Foreign Ministry, the chair of the 10-nation ASEAN bloc for 2018, did not respond to a request for comment.

“We cannot comment right now but Thailand certainly supports discussion on the single negotiating draft,” said Busadee Santipitaks, a spokeswoman for Thailand’s Ministry of Foreign Affairs, which takes over as ASEAN chair in the new year.


Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: ted aljibe, afp, getty images
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Five US Marines missing after aircraft crash into sea off Japan

Five U.S. Marines were missing after two Marine Corps aircraft collided in mid-air and crashed into the sea off the coast of Japan on Thursday, in what U.S. officials said may have been a refueling exercise gone wrong. A series of emergency landings and parts falling from U.S. military aircraft have highlighted safety concerns. The Marine Corps said in a statement the incident occurred around 2 a.m. local time in Japan (1700 GMT Wednesday) about 200 miles off the Japanese coast. The two aircraft


Five U.S. Marines were missing after two Marine Corps aircraft collided in mid-air and crashed into the sea off the coast of Japan on Thursday, in what U.S. officials said may have been a refueling exercise gone wrong. A series of emergency landings and parts falling from U.S. military aircraft have highlighted safety concerns. The Marine Corps said in a statement the incident occurred around 2 a.m. local time in Japan (1700 GMT Wednesday) about 200 miles off the Japanese coast. The two aircraft
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Keywords: news, cnbc, companies, marine, condition, incident, crash, marines, sea, military, japan, aircraft, ministry, corps, japanese, missing, occurred


Five US Marines missing after aircraft crash into sea off Japan

Five U.S. Marines were missing after two Marine Corps aircraft collided in mid-air and crashed into the sea off the coast of Japan on Thursday, in what U.S. officials said may have been a refueling exercise gone wrong.

Japan’s defense ministry said its maritime forces had so far found two of the seven Marines who were aboard the aircraft — an F/A-18 Hornet fighter jet and KC-130 Hercules — at the time of the incident.

One was in a stable condition at Marine Corps Air Station Iwakuni, while the second had been found about 10 hours after the collision and brought aboard a Japanese military vessel, the ministry said. No other details about the second Marine were known, a ministry spokesman said.

Search and rescue efforts for the remaining five continued.

The incident adds to a growing list of U.S. military aviation accidents around the world in recent years, prompting hearings in Congress to address the rise.

The Military Times reported earlier this year that aviation accidents jumped nearly 40 percent from fiscal years 2013 to 2017. At least 133 service members were killed in those incidents, it said.

U.S. military accidents are a sensitive topic in Japan, particularly for residents of the southern prefecture of Okinawa, which is home to the bulk of the U.S. presence in the country. A series of emergency landings and parts falling from U.S. military aircraft have highlighted safety concerns.

“The incident is regrettable, but our focus at the moment is on search and rescue,” Japanese Defense Minister Takeshi Iwaya told a news conference. “Japan will respond appropriately once the details of the incident are uncovered.”

The Marine Corps said in a statement the incident occurred around 2 a.m. local time in Japan (1700 GMT Wednesday) about 200 miles off the Japanese coast.

The two aircraft had launched from Marine Corps Air Station Iwakuni and were conducting regular training when there was a “mishap,” the Marine Corps said.

The Marine Corps did not elaborate on the nature of the incident. A U.S. official, speaking on condition of anonymity, said it occurred during a refueling exercise.

Officials who spoke to Reuters on condition of anonymity were unsure precisely how the mishap occurred but none suspected foul play. An investigation has begun.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: chung sung-jun, getty images news, getty images
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Millennials are killing canned tuna, but the industry is fighting back

This time, millennials are killing canned tuna, according to a Wall Street Journal report. Consumption of canned tuna has dropped 42 percent per capita from the last 30 years through 2016, according to U.S. Department of Agriculture data. Harris, who has worked with canned tuna businesses, believes that the traditional companies have fallen behind because it’s a low-margin business and investing in packaging falls low on the list of priorities. The main priority for canned tuna companies now, ac


This time, millennials are killing canned tuna, according to a Wall Street Journal report. Consumption of canned tuna has dropped 42 percent per capita from the last 30 years through 2016, according to U.S. Department of Agriculture data. Harris, who has worked with canned tuna businesses, believes that the traditional companies have fallen behind because it’s a low-margin business and investing in packaging falls low on the list of priorities. The main priority for canned tuna companies now, ac
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Keywords: news, cnbc, companies, fighting, sea, killing, market, industry, bee, younger, millennials, tuna, starkist, pouches, according, canned


Millennials are killing canned tuna, but the industry is fighting back

Another one bites the dust. This time, millennials are killing canned tuna, according to a Wall Street Journal report.

Consumption of canned tuna has dropped 42 percent per capita from the last 30 years through 2016, according to U.S. Department of Agriculture data. And the industry places the blame on younger consumers, who want fresher or more convenient options.

“A lot of millennials don’t even own can openers,” Andy Mecs, the vice president of marketing and innovation for Starkist, said to the Journal.

The struggle of the three largest canned tuna companies, StarKist, Bumble Bee Foods and Chicken of the Sea International, mirrors that of others in the packaged food industry, like Campbell Soup and Kraft Heinz. Younger consumers are turning away from processed foods, and new competitors are catering to changing tastes faster than the industry’s giants.

To Ken Harris, managing partner at Cadent Consulting Group, the bigger picture is about convenience.

“In the last 15 years, can openers became passe,” Harris told CNBC.

Harris, who has worked with canned tuna businesses, believes that the traditional companies have fallen behind because it’s a low-margin business and investing in packaging falls low on the list of priorities. The main priority for canned tuna companies now, according to Harris, should be packaging that makes it easy to remove and drain the tuna.

Upstarts like Wild Planet Foods and Safe Catch market their tuna as safer and higher quality and are slowly eating into the big three’s market share, the paper said. According to Nielsen data as of October, smaller brands (not including private labels) control 6.3 percent of the market, up from 3.7 percent in 2014, the Journal said.

To stage a comeback, the traditional tuna makers are taking a page from those brands. Bumble Bee and StarKist both have premium brands that they market as sustainable.

They’re also focusing on the products that are working. Tuna pouches don’t require a can opener, and StarKist told the WSJ that sales of its pouches are increasing by 20 percent annually. Kroger’s Home Chef, a meal-kit company, has partnered with the tuna brand to put its yellowfin tuna pouches in kits next year.

Bumble Bee and StarKist have also turned to flavors favored by millennials, like sriracha.

Chicken of the Sea is pitching it to younger consumers as a snack. The San Diego-based company started selling resealable cups of its flavored tuna this summer.

Bumble Bee, Starkist and Chicken of the Sea weren’t immediately available for comment when CNBC reached out.

Read more about the tuna industry’s plans at the Wall Street Journal.

WATCH: Canned wine is no longer a fad, it’s a $45 million industry


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: amelia lucas, geri lavrov, getty images
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It’s time to stop appeasing Putin. Here’s how to deter him

Still, there is a Munich lesson for how to respond to Putin today. It encourages malevolent actors to escalate their ambitions as they calculate what they wish to achieve against reduced risk and resistance. Western intelligence services – mostly caught by surprise by these events – have been gaming what the Russian leader might do next. Russia should permit Ukrainian shipping free access to the Sea of Azov, in accordance with the 2003 agreement. Once operational, Nord Stream 2 — which bypasses


Still, there is a Munich lesson for how to respond to Putin today. It encourages malevolent actors to escalate their ambitions as they calculate what they wish to achieve against reduced risk and resistance. Western intelligence services – mostly caught by surprise by these events – have been gaming what the Russian leader might do next. Russia should permit Ukrainian shipping free access to the Sea of Azov, in accordance with the 2003 agreement. Once operational, Nord Stream 2 — which bypasses
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Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: fred kempe, mikhail svetlov, getty images
Keywords: news, cnbc, companies, sea, stop, putin, appeasing, ukrainian, ukraine, deter, russia, azov, heres, crimea, european, russian, russias


It's time to stop appeasing Putin. Here's how to deter him

MUNICH – There are few better places in the world than here to reflect on the need to end Western appeasement of Vladimir Putin and his growing list of international crimes. The latest was last Sunday’s Russian attack on Ukrainian naval vessels in the Black Sea – and its purpose of asserting Kremlin control over its still-sovereign neighbor.

This Bavarian city of beer halls and baroque beauty has another claim it would rather shake, one that made its name synonymous with appeasement. On Sept. 30, 1938, when the perils posed by Adolf Hitler were already apparent, British Prime Minister Neville Chamberlain, French Premier Edouard Daladier, and Italian leader Benito Mussolini signed the Munich Pact, which handed Nazi Germany large parts of Czechoslovakia in the name of peace.

There’s an unwritten rule among serious historians and journalists: No one and nothing should be compared to Hitler and the Third Reich, a singular personality and episode of evil. No direct comparison is reasonable or useful. Russians suffered more fatalities than any other people from what became known as the “Munich Betrayal” and the world war that was to come.

Still, there is a Munich lesson for how to respond to Putin today. Appeasement’s price is always high. It encourages malevolent actors to escalate their ambitions as they calculate what they wish to achieve against reduced risk and resistance.

Russia’s invasion of Georgia in 2008, and the de facto annexation of its two breakaway provinces, was followed by the illegal annexation of Crimea in 2014, the first forceful changing of European borders since World War II. Then there was Moscow’s intervening in Syria to prop up murderous dictator Bassar al Assad in 2015, which was followed by Russia’s interference in the 2016 U.S. elections.

Western intelligence services – mostly caught by surprise by these events – have been gaming what the Russian leader might do next. It was a safe bet that it would fall within his campaigns to rebuild regional influence or to undermine the United States, its European allies, and their democracies and primary institutions, NATO and the European Union, while blocking their ability to accept new members from Moscow’s neighborhood.

Part of the answer came last weekend.

Two aspects of Russia’s military action were significant. First, it was the first time that Putin had so brazenly used his own conventional military forces against Ukraine, where he has acted mostly in the shadows or through proxies. Second, by firing upon Ukrainian vessels, he must have factored in a potential chain of events that might have led to a wider war.

President Donald Trump’s tweet on Thursday that he wouldn’t meet with Putin this weekend on the margins of the G-20 in Argentina was encouraging but insufficient.

In an interview with the German-language Bild Zeitung, Ukrainian President Petro Poroshenko this week warned, “The only language [Putin] understands is the solidarity of the Western world. We can’t accept Russia’s aggressive policies. First it was Crimea, then eastern Ukraine, now he wants the Sea of Azov.”

Here’s a brief guide to what has happened and what should be done, providing context and a range of responses recommended by Atlantic Council experts:

In 2003, Russia and Ukraine reached agreement on cooperation in the shared waterways of the Sea of Azov and the Kerch Strait, which runs between Russia and Crimea as the only entrance to the sea.

After Russia illegally annexed Crimea in 2014, it used its new control of both sides of the strait to build a $3.7 billion bridge connecting Crimea to mainland Russia. Its low height of 115 feet cut off access of larger ships to the Ukrainian ports of Mariupol and Berdyansk, resulting in a sharp decline of port revenues.

In May of this year, following the bridge’s completion, Russia moved naval vessels, including warships from its Caspian Flotilla, to the Sea of Azov. Since then, Russia has detained some 150 Ukrainian and foreign merchant ships and interrogated their crew members, according to a Ukrainian official and port authorities, deterring more ship traffic and further cutting revenues.

Last Sunday, Russian forces opened fire and seized three Ukrainian naval ships after rebuffing their attempt to travel from the Black Sea to the Sea of Azov through the Kerch Strait. Russian troops detained 24 Ukrainian crew members, six of whom were injured, and have now transferred them to Moscow for criminal prosecution.

The United States, European allies, the European Union, and NATO have condemned the Kremlin’s aggression against Ukraine. Without more than that, however, Putin won’t be deterred.

Atlantic Council experts favor a three-pronged, diplomatic, economic, and military response, including but not limited to the following:

– Diplomatically, the U.S., NATO, the EU, and other western allies should not only condemn the Russian actions but also detail how they violate specific international conventions. There should be demands that Russia apologize, punish those responsible, and immediately release the Ukrainian sailors.

Russia should permit Ukrainian shipping free access to the Sea of Azov, in accordance with the 2003 agreement. The NATO and EU should jointly send a fact-finding mission to the Sea of Azov.

– Economically, the United States and Europe should more stringently enforce the already existing sanctions imposed following Russia’s annexation of Crimea, since that is the source of the problem. They should then prepare new sanctions on Russian financial institutions and shipping interests, to be implemented if Russia doesn’t reverse course.

To impose even greater costs, the U.S. should push Germany to suspend the ill-conceived Nord Stream 2 gas pipeline from Russia to Germany via the Baltic Sea. Once operational, Nord Stream 2 — which bypasses Ukraine — will cost Ukraine a 3 percent drop in GDP. Russia’s multiple provocations undermine European efforts to obtain guarantees of continued gas transit through Ukraine after Nord Stream 2 comes on line.

– Given the more direct Russian military involvement, it’s also time to increase surveillance and other monitoring of the Sea of Azov by the Organization for Security and Co-operation in Europe and Western drones. A stronger message would be to widen NATO and U.S. military presence in the eastern Black Sea by increasing freedom of navigation operations.

Finally, the U.S. and allies should provide additional defensive naval armaments to Ukraine, including coastal defense surface-to-ship missiles, patrol boats, radar, and additional intelligence, surveillance, and reconnaissance assets.

Critics might argue that such actions would be provocative. History has taught us, however, that appeasement is the most inflammatory action.

That is the lasting lesson of Munich.

Frederick Kempe is a best-selling author, prize-winning journalist and president & CEO of the Atlantic Council, one of the United States’ most influential think tanks on global affairs. He worked at The Wall Street Journal for more than 25 years as a foreign correspondent, assistant managing editor and as the longest-serving editor of the paper’s European edition. His latest book – “Berlin 1961: Kennedy, Khrushchev, and the Most Dangerous Place on Earth” – was a New York Times best-seller and has been published in more than a dozen languages. Follow him on Twitter @FredKempe and subscribe here to Inflection Points, his look each Saturday at the past week’s top stories and trends.

For more insight from CNBC contributors, follow @CNBCopinion on Twitter.


Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: fred kempe, mikhail svetlov, getty images
Keywords: news, cnbc, companies, sea, stop, putin, appeasing, ukrainian, ukraine, deter, russia, azov, heres, crimea, european, russian, russias


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Oil prices rise on North Sea outage, ahead of OPEC, G20 meetings

The shutdown of Britain’s largest North Sea oilfield for repairs also supported prices, traders said. U.S. West Texas Intermediate (WTI) crude futures were at $52.11 per barrel at 0448 GMT, up 55 cents, or 1.1 percent from their last settlement. International Brent crude oil futures were up 57 cents, or 1 percent, at $60.78 per barrel. Despite Wednesday’s rise, oil prices have still lost around 30 percent in value since early October, weighed down by an emerging supply overhang and by widespread


The shutdown of Britain’s largest North Sea oilfield for repairs also supported prices, traders said. U.S. West Texas Intermediate (WTI) crude futures were at $52.11 per barrel at 0448 GMT, up 55 cents, or 1.1 percent from their last settlement. International Brent crude oil futures were up 57 cents, or 1 percent, at $60.78 per barrel. Despite Wednesday’s rise, oil prices have still lost around 30 percent in value since early October, weighed down by an emerging supply overhang and by widespread
Oil prices rise on North Sea outage, ahead of OPEC, G20 meetings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: andrew burton, getty images
Keywords: news, cnbc, companies, trade, oil, wti, opec, rise, futures, crude, g20, sea, outage, prices, meetings, supply, north, ahead, emerging, traders


Oil prices rise on North Sea outage, ahead of OPEC, G20 meetings

Oil prices rose by one percent on Wednesday ahead of an OPEC meeting next week at which the producer club is expected to decide some form of supply cut to counter an emerging glut.

The shutdown of Britain’s largest North Sea oilfield for repairs also supported prices, traders said.

U.S. West Texas Intermediate (WTI) crude futures were at $52.11 per barrel at 0448 GMT, up 55 cents, or 1.1 percent from their last settlement.

International Brent crude oil futures were up 57 cents, or 1 percent, at $60.78 per barrel.

The Buzzard oilfield, which pumps about 150,000 barrels per day (bpd) has closed temporarily after the discovery of pipe corrosion. A smaller field linked to Forties, Total’s Elgin-Franklin, is also shut for maintenance. As a result, trade sources said three cargoes due to load in December had been cancelled.

Despite Wednesday’s rise, oil prices have still lost around 30 percent in value since early October, weighed down by an emerging supply overhang and by widespread weakness in financial markets.

The crude oil price slump since October is so far on par with the 2008 price crash and steeper than that of 2014/2015.

The Organization of the Petroleum Exporting Countries (OPEC) will meet at its headquarters in Vienna, Austria, on Dec. 6 to discuss output policy.

The OPEC-meeting will follow a gathering by the Group of 20 (G-20) nations, which includes the world’s biggest economies, in Argentina this weekend, at which the Sino-American trade dispute as well as oil policy are expected to be discussed.

While most analysts expect some form of supply cut from the OPEC meeting, sentiment in oil markets remains negative.

“Options traders remain focused on downside risks following a 30 percent slide in WTI,” Erik Norland, senior economist at commodities exchange CME Group wrote in a note, referring to the higher number of traders who have placed positions that would profit from a further fall in crude prices than those placing bets on a rising market.

Portfolio managers have slashed their combined net long position in crude futures by a total of 607 million barrels over the last eight weeks, the largest reduction over a comparable period since at least 2013, when the current data series began, exchange data showed.

A concern to global markets is a slowdown in global trade as a result of the Sino-American trade dispute, swelling debt and a strong dollar that puts pressure on emerging markets.

The World Trade Organization (WTO) said in its latest outlook, published on Tuesday, that “trade growth is likely to slow further into the fourth quarter of 2018”, with growth likely at its slowest since Oct. 2016.


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: andrew burton, getty images
Keywords: news, cnbc, companies, trade, oil, wti, opec, rise, futures, crude, g20, sea, outage, prices, meetings, supply, north, ahead, emerging, traders


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