US companies are canceling investment into China at a faster clip, survey shows

However, survey respondents did note an overall improvement in nearly all issues of concern — including intellectual property protection and forced technology transfer. The proportion of businesses that said the Chinese government treats foreign and local companies equally also rose from 34% to 40% in the latest survey. But retaliatory tariffs from both sides are hitting revenues and causing some American firms to change their China strategy, the AmCham survey showed. Just over half of the surve


However, survey respondents did note an overall improvement in nearly all issues of concern — including intellectual property protection and forced technology transfer. The proportion of businesses that said the Chinese government treats foreign and local companies equally also rose from 34% to 40% in the latest survey. But retaliatory tariffs from both sides are hitting revenues and causing some American firms to change their China strategy, the AmCham survey showed. Just over half of the surve
US companies are canceling investment into China at a faster clip, survey shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: evelyn cheng
Keywords: news, cnbc, companies, canceling, tariffs, clip, shows, companies, investment, trade, china, respondents, report, faster, american, local, foreign, survey


US companies are canceling investment into China at a faster clip, survey shows

Chinese shipping containers are stored beside a US flag after they were unloaded at the Port of Los Angeles in Long Beach, California on May 14, 2019. – Global markets remain on red alert over a trade war between the two superpowers China and the US, that most observers warn could shatter global economic growth, and hurt demand for commodities like oil. (Photo by Mark RALSTON / AFP) (Photo credit should read MARK RALSTON/AFP/Getty Images) MARK RALSTON | AFP | Getty Images

Some American companies in China are speeding up their move away from the mainland as increasing tariffs continue to hurt their businesses. That’s according to a survey released by the American Chamber of Commerce in Shanghai on Wednesday. More than a quarter of the respondents – or 26.5% – said that in the past year, they have redirected investments originally planned for China to other regions. That’s an increase of 6.9 percentage points from last year, the AmCham report said, noting that technology, hardware, software and services industries had the highest level of changes in investment destination. The research, conducted in partnership with PwC, surveyed 333 members of the American Chamber of Commerce in Shanghai. It was conducted from June 27 to July 25 — during the period when U.S. President Donald Trump and Chinese President Xi Jinping agreed to resume trade talks, and before the latest escalation in retaliatory tariffs. U.S. firms in the mainland also said restrictions to accessing the local market have made it difficult for them to carry out their business, the report said. Asked about the best possible scenarios in ongoing trade negotiations, more than 40% of respondents said greater access to the domestic market would be the most important outcome to help their businesses succeed. That was followed by more than 28% that ranked improved intellectual property protection as key. The third most hoped-for outcome of the trade talks was “increased purchases of U.S. goods,” at 14.3%, the survey showed. That’s in contrast to the Trump administration’s latest efforts to pressure China into buying more American products, especially in agriculture.

Barred from market access

One of the longstanding complaints U.S. companies have about operating in China is that many industries are closed to foreign businesses. In the sectors that are open, it is difficult to compete with state-owned enterprises or privately owned companies that may benefit from local connections or policies, they say. Allegations of forced transfer of critical technology to Chinese partners and lack of intellectual property protection are just some of the challenges U.S. businesses cite for operating in China. The latest AmCham survey found accessing the local market remained one of the key problems companies faced, with more than half the respondents — or 56.4% — saying that obtaining licenses was not easy.

Still, with no sign of a trade agreement, 2019 will be a difficult year; without a trade deal, 2020 may be worse. AmCham Shanghai and PwC survey

By industry, the one that most sought improved market access was the banking, finance and insurance sector. The high 81% of respondents in that sector seeking a better business environment contrasts with Beijing’s announcements in the last 18 months that it will be relaxing foreign ownership rules in the financial sector. Some measures include allowing majority foreign ownership of a local securities venture and increased foreign ownership of local stocks. However, survey respondents did note an overall improvement in nearly all issues of concern — including intellectual property protection and forced technology transfer. The proportion of businesses that said the Chinese government treats foreign and local companies equally also rose from 34% to 40% in the latest survey.

Tariffs hurting US firms

The U.S. business presence in China remains strong, with American companies and their affiliates raking in more than $450 billion in sales in the Asian country, according to an August report from research firm Gavekal Dragonomics. The analysis also pointed out that sales figure is more than twice the value of U.S. exports of goods and services to China. But retaliatory tariffs from both sides are hitting revenues and causing some American firms to change their China strategy, the AmCham survey showed. If Washington were to impose all the duties as threatened, essentially all Chinese goods exported to the U.S. will be subject to tariffs by the end of the year. In response to the increasing American duties, Beijing has countered with tariffs of its own on U.S. exports to China.

Just over half of the survey respondents said revenue has decreased as a result of the increased tariffs. One third of them attributed a drop of between 1% and 10% of revenue to the higher duties. Overall profitability did not decline in 2018, the report said. But more respondents said revenue and margins declined last year, especially compared with operations in other countries. Pessimism levels shot up by 14 percentage points to about 21% — respondents felt less optimistic about the outlook for 2019 due in part to a slowing domestic economy.

Bright spots remain in China

The survey, however, did find some areas of optimism among respondents in China. The pharmaceuticals, medical devices and life sciences category ranked among the industries with the most respondents reporting revenue growth last year. That sector also came in second among those most optimistic about 2019. The AmCham report said the positive outlook was “likely due to government policy changes, including accelerated approvals of foreign drugs.” More than two-thirds of companies in food and agriculture planned to increase investment in 2019, the most of any industry, the report said. Retail and consumer companies also intended to invest more in China, especially in smaller cities where many analysts still see a major growth opportunity. However, businesses are getting ready for a drawn out trade war between the two economic giants. Of those surveyed, 35% expect trade tensions to continue for another 1 to 3 years, while nearly 13% say it will go on for 3 to 6 years. About 17%, however, were even more pessimistic, and predict that the trade conflict will drag on indefinitely. The report added: “Still, with no sign of a trade agreement, 2019 will be a difficult year; without a trade deal, 2020 may be worse.”


Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: evelyn cheng
Keywords: news, cnbc, companies, canceling, tariffs, clip, shows, companies, investment, trade, china, respondents, report, faster, american, local, foreign, survey


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US Treasury yields tick higher as investors await key central bank meetings

US companies are canceling investment into China at a faster… The latest Amcham survey shows that some U.S. firms in China are speeding up their move away from the mainland as increasing tariffs bite. China Economyread more


US companies are canceling investment into China at a faster… The latest Amcham survey shows that some U.S. firms in China are speeding up their move away from the mainland as increasing tariffs bite. China Economyread more
US Treasury yields tick higher as investors await key central bank meetings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: sam meredith
Keywords: news, cnbc, companies, central, mainland, bank, latest, speeding, increasing, survey, meetings, firms, china, yields, treasury, shows, await, key, tariffs, tick, investors, investment, higher


US Treasury yields tick higher as investors await key central bank meetings

US companies are canceling investment into China at a faster…

The latest Amcham survey shows that some U.S. firms in China are speeding up their move away from the mainland as increasing tariffs bite.

China Economy

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Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: sam meredith
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YouTube fine shows the US government is not serious about a Big Tech crackdown

On Wednesday, as the FTC slapped a record fine on Google-owned YouTube for allegedly violating privacy protections for children, it was more or less business as usual at the company. Shares of parent company Alphabet were up after the news that YouTube would need to pay $170 million to settle the claims. That’s because the penalty is just a fraction of the revenue Alphabet generates in a single day. If this sounds familiar, that’s because the FTC went through a similar cycle with Facebook less t


On Wednesday, as the FTC slapped a record fine on Google-owned YouTube for allegedly violating privacy protections for children, it was more or less business as usual at the company. Shares of parent company Alphabet were up after the news that YouTube would need to pay $170 million to settle the claims. That’s because the penalty is just a fraction of the revenue Alphabet generates in a single day. If this sounds familiar, that’s because the FTC went through a similar cycle with Facebook less t
YouTube fine shows the US government is not serious about a Big Tech crackdown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: lauren feiner
Keywords: news, cnbc, companies, penalties, big, facebook, tech, revenue, fine, ftc, alphabet, serious, billion, think, youtube, cases, privacy, shows, crackdown


YouTube fine shows the US government is not serious about a Big Tech crackdown

Momentum is building in Washington to crack down on Big Tech’s most free-wheeling practices: the Department of Justice is conducting a broad review of tech companies in addition to a reported antitrust investigation of Google, and Facebook disclosed a new antitrust probe by the Federal Trade Commission in July.

But the meager penalties imposed on these companies in recent years, when compared with their size, shows the U.S. government is not yet prepared to take actions that will fundamentally alter the industry.

On Wednesday, as the FTC slapped a record fine on Google-owned YouTube for allegedly violating privacy protections for children, it was more or less business as usual at the company.

Shares of parent company Alphabet were up after the news that YouTube would need to pay $170 million to settle the claims.

That’s because the penalty is just a fraction of the revenue Alphabet generates in a single day. Based on its second quarter 2019 earnings, Alphabet averages more than $400 million in revenue daily.

If this sounds familiar, that’s because the FTC went through a similar cycle with Facebook less than two months ago. The agency imposed a $5 billion fine, its largest ever on a tech company, over alleged violations of a previous privacy agreement. That’s less than one month’s worth of revenue for Facebook based on its second quarter earnings report, which showed revenue of $16.9 billion for the three-month period. By the end of trading the day of the fine’s announcement, Facebook had gained $6 billion in value. Despite the penalties and noise from politicians about cracking down, its stock is up more than 40% so far this year.

When reached for comment, Google pointed to its earlier blog post on the settlement. The FTC declined to comment for this story.

However, in an interview on “Closing Bell,” Andrew Smith, director of the FTC’s Bureau of Consumer Protection, told CNBC’s Ylan Mui, “I don’t concede that the punishment here was inadequate. I think that it is consistent with our prior cases, with our prior COPPA [Children’s Online Privacy Protection Act] cases, it’s consistent with the penalties we’ve sought and obtained in those cases. It just happens to be so much larger because YouTube is so much larger. But I do think that this is a penalty that sends a strong message to the marketplace and I have to respectfully disagree with the detractors.”


Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: lauren feiner
Keywords: news, cnbc, companies, penalties, big, facebook, tech, revenue, fine, ftc, alphabet, serious, billion, think, youtube, cases, privacy, shows, crackdown


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Consumer watchdog agency shows one way to help improve your savings

Gentle encouragement or financial incentives could result in more people setting aside at least some of their tax refund for emergency savings, a new study suggests. The CFPB partnered with H&R Block to research whether certain types of communications and incentives would increase the savings rate of consumers who received a tax refund. In the 2017 tax-filing season, 101.6 million tax returns — about 73% of all returns filed — resulted in a refund. However, few of H&R’s customers in the pilot pr


Gentle encouragement or financial incentives could result in more people setting aside at least some of their tax refund for emergency savings, a new study suggests. The CFPB partnered with H&R Block to research whether certain types of communications and incentives would increase the savings rate of consumers who received a tax refund. In the 2017 tax-filing season, 101.6 million tax returns — about 73% of all returns filed — resulted in a refund. However, few of H&R’s customers in the pilot pr
Consumer watchdog agency shows one way to help improve your savings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: cnbccom staff
Keywords: news, cnbc, companies, refund, kraninger, emergency, watchdog, study, help, cfpb, improve, consumer, agency, way, savings, tax, prepaid, shows, financial


Consumer watchdog agency shows one way to help improve your savings

“For society in general, the ‘spend’ message is loud and we want to get that ‘savings’ message out there, as well,” CFPB Director Kathy Kraninger told CNBC’s “Squawk Box” on Tuesday.

The research shows that among taxpayers who used a prepaid card from H&R Block to receive their 2017 refund, those who were sent messages about saving their refund were more likely to squirrel something away than those who did not receive any communications, according to the study, which was released on Tuesday by the Consumer Financial Protection Bureau.

Gentle encouragement or financial incentives could result in more people setting aside at least some of their tax refund for emergency savings, a new study suggests.

The need for savings is clear: Many U.S. consumers lack sufficient emergency reserves of cash, and close to 40% of households would have to borrow or sell something to cover a $400 emergency expense, according to a 2018 Federal Reserve survey.

The CFPB partnered with H&R Block to research whether certain types of communications and incentives would increase the savings rate of consumers who received a tax refund. The pilot study, conducted during the 2017 tax-filing season, showed that either sending an email encouraging savings or offering a $5 incentive to use the prepaid card’s savings feature was effective for some of H&R Block’s customers.

“If you put the thought into people’s minds, they’re going to actually take action,” Kraninger said.

In the 2017 tax-filing season, 101.6 million tax returns — about 73% of all returns filed — resulted in a refund. While the average amount was $2,771, refunds for low-income taxpayers who received the earned income tax credit tended to be even higher, the CFPB said.

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“For 40% of tax filers, that’s the largest influx of funds that they have personally every year,” Kraninger said. “That’s the time to save.”

However, few of H&R’s customers in the pilot program — just 608 — made use of the savings feature on the prepaid cards, according to the CFPB. Those who did make a deposit contributed an average $1,131.

While the share of those with money saved decreased over time, 24% still had funds — averaging about $105 — after eight months.

CHECK OUT: Learning 4 life skills can save you hundreds of dollars via Grow with Acorns+CNBC.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.


Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: cnbccom staff
Keywords: news, cnbc, companies, refund, kraninger, emergency, watchdog, study, help, cfpb, improve, consumer, agency, way, savings, tax, prepaid, shows, financial


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China’s factory activity unexpectedly expands in August, a private survey shows

This photo taken on October 17, 2018 shows a worker inspecting shoes at a factory in Qingdao in China’s eastern Shandong province. China’s manufacturing activity expanded in August, according to results of a private survey released on Monday as production increased, but export sales fell amid the country’s escalating trade war with the U.S. The Caixin/Markit manufacturing PMI was 49.9 in July. The results of the private survey came after official data showed the manufacturing PMI fell to 49.5 in


This photo taken on October 17, 2018 shows a worker inspecting shoes at a factory in Qingdao in China’s eastern Shandong province. China’s manufacturing activity expanded in August, according to results of a private survey released on Monday as production increased, but export sales fell amid the country’s escalating trade war with the U.S. The Caixin/Markit manufacturing PMI was 49.9 in July. The results of the private survey came after official data showed the manufacturing PMI fell to 49.5 in
China’s factory activity unexpectedly expands in August, a private survey shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: huileng tan
Keywords: news, cnbc, companies, shows, trade, manufacturing, amid, fell, factory, pmi, official, chinas, activity, demand, analysts, survey, data, unexpectedly, expands, private


China's factory activity unexpectedly expands in August, a private survey shows

This photo taken on October 17, 2018 shows a worker inspecting shoes at a factory in Qingdao in China’s eastern Shandong province.

China’s manufacturing activity expanded in August, according to results of a private survey released on Monday as production increased, but export sales fell amid the country’s escalating trade war with the U.S.

The Caixin/Markit factory Purchasing Managers’ Index (PMI) was 50.4 in August — better than than the 49.8 analysts polled by Reuters had expected. The Caixin/Markit manufacturing PMI was 49.9 in July.

PMI readings above 50 indicate expansion, while those below that signal contraction.

The subindex for new orders stayed in expansionary territory in August, but inched down from July, suggesting flat demand for manufactured products, said Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin.

However, “the gauge for new export orders remained in contractionary territory and fell to the lowest level this year in August, reflecting declining foreign demand amid an intensifying trade dispute between China and the U.S., ” Zhong said in a press release.

The two countries imposed new tariffs on each other’s imports on Sunday.

Despite the improved headline PMI reading in August, due in part to improved production activity, the outlook is not rosy with long-term downward pressure, said Zhong.

“Overall demand didn’t improve, and foreign demand declined notably, leading product inventories to grow,” he wrote. “There was no sign of an improvement in companies’ willingness to replenish inventories of inputs or in their confidence. Industrial prices trended down.”

The results of the private survey came after official data showed the manufacturing PMI fell to 49.5 in August, China’s National Bureau of Statistics said on Saturday — that’s compared to 49.7 in July. A Reuters poll showed analysts expected the official PMI to stay unchanged from July.

The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. The Caixin indicator features a bigger mix of small- and medium-sized firms.

The PMI is a survey of how businesses view the operating environment. Such data offer a first glimpse into what’s happening in an economy, as they are usually among the first major economic indicators released each month.

The China PMI is closely watched by global investors for signs of trouble amid a domestic economic slowdown and the ongoing U.S.-China trade dispute.

Uncertainty looms over the Chinese growth outlook, said Capital Economics analysts on Monday.

“Global demand looks set to weaken further and a long-overdue pull-back in property construction is getting under way,” they wrote in a note following the PMI data release.

“The fiscal support currently in the pipeline is unlikely to fully offset these headwinds and we think authorities will have little choice but to roll out further policy easing measures in the coming months,” added Julian Evans-Pritchard and Martin Lynge Rasmussen.

— CNBC’s Yen Nee Lee and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: huileng tan
Keywords: news, cnbc, companies, shows, trade, manufacturing, amid, fell, factory, pmi, official, chinas, activity, demand, analysts, survey, data, unexpectedly, expands, private


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China’s gas demand growth rate to slow in 2019, government report shows

President Trump ordered US firms to ditch China, but many already…President Trump rattled Wall Street when he demanded U.S. firms move production out of China. But some have already taken steps to do so, and, in earnings calls over the past… Investingread more


President Trump ordered US firms to ditch China, but many already…President Trump rattled Wall Street when he demanded U.S. firms move production out of China. But some have already taken steps to do so, and, in earnings calls over the past… Investingread more
China’s gas demand growth rate to slow in 2019, government report shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-02
Keywords: news, cnbc, companies, shows, report, growth, rate, wall, steps, slow, chinas, rattled, gas, demand, 2019, firms, production, trump, china, taken, president, street


China's gas demand growth rate to slow in 2019, government report shows

President Trump ordered US firms to ditch China, but many already…

President Trump rattled Wall Street when he demanded U.S. firms move production out of China. But some have already taken steps to do so, and, in earnings calls over the past…

Investing

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Company: cnbc, Activity: cnbc, Date: 2019-09-02
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This map shows how much a cheeseburger costs in every US state

As summer comes to a close, many Americans will take advantage of Labor Day weekend for one last cookout. But those firing up the grill in Hawaii will be paying a slight premium for their homecooked cheeseburgers, at $2.95 per sandwich. In Arizona, however, it only costs $2.34 per cheeseburger, more than 60 cents cheaper. Here are the proportions of each ingredient the site used to represent a standard burger:1/4 pound ground beef1 teaspoon ketchup1 teaspoon mustard1 teaspoon mayo1/5 of the onio


As summer comes to a close, many Americans will take advantage of Labor Day weekend for one last cookout. But those firing up the grill in Hawaii will be paying a slight premium for their homecooked cheeseburgers, at $2.95 per sandwich. In Arizona, however, it only costs $2.34 per cheeseburger, more than 60 cents cheaper. Here are the proportions of each ingredient the site used to represent a standard burger:1/4 pound ground beef1 teaspoon ketchup1 teaspoon mustard1 teaspoon mayo1/5 of the onio
This map shows how much a cheeseburger costs in every US state Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: emmie martin
Keywords: news, cnbc, companies, tomato1, cheeseburger, map, teaspoon, ground, shows, hamburger, weekend, used, tomato, site, costs, state


This map shows how much a cheeseburger costs in every US state

As summer comes to a close, many Americans will take advantage of Labor Day weekend for one last cookout. But those firing up the grill in Hawaii will be paying a slight premium for their homecooked cheeseburgers, at $2.95 per sandwich. In Arizona, however, it only costs $2.34 per cheeseburger, more than 60 cents cheaper.

That’s according to new data from deal site Simple Thrifty Living, which found the average cost of a cheeseburger in every U.S. state, by comparing local prices from national or regional retailers for 85% lean/15% fat ground beef, cheese, hamburger buns, Heinz ketchup, French’s mustard, Hellmann’s mayo, a sweet onion, a tomato, pickles and lettuce.

Here are the proportions of each ingredient the site used to represent a standard burger:

1/4 pound ground beef

1 teaspoon ketchup

1 teaspoon mustard

1 teaspoon mayo

1/5 of the onion

1/4 of the tomato

1 ounce pickles

1/8 of the lettuce

1 hamburger bun

1 slice of cheese

How does your state stack up? Check out the map below:


Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: emmie martin
Keywords: news, cnbc, companies, tomato1, cheeseburger, map, teaspoon, ground, shows, hamburger, weekend, used, tomato, site, costs, state


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Eugene Scalia, Trump’s Labor nominee, earned millions while working for big business, disclosure shows

President Donald Trump’s nominee to become secretary of Labor, Eugene Scalia, earned more than $6 million working as a partner at the corporate law firm Gibson, Dunn & Crutcher, he reported in a financial disclosure form filed on Friday. The Labor Department oversees U.S. labor laws and works to protect American workers. Trump officially announced his intention to nominate Scalia to lead the Labor Department on Tuesday after first announcing the selection in a tweet in July. Alex Acosta, the pre


President Donald Trump’s nominee to become secretary of Labor, Eugene Scalia, earned more than $6 million working as a partner at the corporate law firm Gibson, Dunn & Crutcher, he reported in a financial disclosure form filed on Friday. The Labor Department oversees U.S. labor laws and works to protect American workers. Trump officially announced his intention to nominate Scalia to lead the Labor Department on Tuesday after first announcing the selection in a tweet in July. Alex Acosta, the pre
Eugene Scalia, Trump’s Labor nominee, earned millions while working for big business, disclosure shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: tucker higgins
Keywords: news, cnbc, companies, labor, working, disclosure, shows, scalia, millions, work, secretary, nominee, department, trump, eugene, trumps, scrutiny, wrote, financial, earned


Eugene Scalia, Trump's Labor nominee, earned millions while working for big business, disclosure shows

President Donald Trump’s nominee to become secretary of Labor, Eugene Scalia, earned more than $6 million working as a partner at the corporate law firm Gibson, Dunn & Crutcher, he reported in a financial disclosure form filed on Friday.

Scalia, son of the late Supreme Court Justice Antonin Scalia, said in the filing that he performed legal work for a range of the nation’s largest financial institutions, Juul Labs, Facebook, Chevron, the Chamber of Commerce and the American Petroleum Institute.

Scalia also did legal work for insurance companies UnitedHealth Group and Allianz, investment bank Goldman Sachs, Ford Motor Company, Walmart, Wynn Las Vegas, Moody’s, CVS, Delta Air Lines and transport firms CSX and Union Pacific. The form required Scalia to list sources of compensation exceeding $5,000 in a year.

In an accompanying letter, Scalia wrote to the Labor Department’s ethics program manager that he will not participate “personally and substantially in any particular matter in which I know that I have a financial interest” unless he first obtains a waiver.

Upon confirmation by the Senate, he wrote, he will resign his position at Gibson, Dunn & Crutcher.

The Labor Department oversees U.S. labor laws and works to protect American workers. In an email, a representative for Citizens for Responsibility and Ethics in Washington, a good-government group that has been vocal about ethical violations in the Trump administration, said “on a first read, nothing really jumped out to us.”

Scalia’s work for big business is expected to exclude him from participation in some department matters likely to shape the rules that apply to businesses should he be confirmed.

For instance, Scalia is likely to recuse himself from the Trump administration’s work to come up with a new version of the so-called “fiduciary rule” put in place under President Barack Obama, which was loathed by business groups and required financial advisors to act in their clients’ best interests. The rule died in court, but officials have said they are working on a new version.

The Wall Street Journal, citing people familiar with the matter, reported earlier this month that Scalia would not be involved in that work.

Trump officially announced his intention to nominate Scalia to lead the Labor Department on Tuesday after first announcing the selection in a tweet in July. Alex Acosta, the previous Labor secretary, resigned amid scrutiny of the nonprosecution agreement he reached with convicted sex offender Jeffrey Epstein nearly a decade ago. Epstein died in jail in August in an apparent suicide while awaiting trial on new charges.

The acting secretary of Labor is Patrick Pizzella, who has come under scrutiny for his past work with disgraced lobbyist Jack Abramoff.


Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: tucker higgins
Keywords: news, cnbc, companies, labor, working, disclosure, shows, scalia, millions, work, secretary, nominee, department, trump, eugene, trumps, scrutiny, wrote, financial, earned


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Peloton’s IPO shows the company is serving the wealthy, but not making us healthy

Peloton, the company that brings spin classes to your living room, has turned the combination of fitness and connected gadgets into a business that’s big enough for the public markets. The company said that over the past two decades, even in times of recession, the fitness industry has grown in the U.S. and abroad. But Peloton suffers from the same deficiency that plagues other digital health products and services like activity trackers, personal training apps and fitness classes. That’s far out


Peloton, the company that brings spin classes to your living room, has turned the combination of fitness and connected gadgets into a business that’s big enough for the public markets. The company said that over the past two decades, even in times of recession, the fitness industry has grown in the U.S. and abroad. But Peloton suffers from the same deficiency that plagues other digital health products and services like activity trackers, personal training apps and fitness classes. That’s far out
Peloton’s IPO shows the company is serving the wealthy, but not making us healthy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: christina farr
Keywords: news, cnbc, companies, need, fitness, reach, wealthy, classes, shows, thats, healthy, ipo, paycheck, serving, making, pelotons, past, peloton, company, living


Peloton's IPO shows the company is serving the wealthy, but not making us healthy

Peloton, the company that brings spin classes to your living room, has turned the combination of fitness and connected gadgets into a business that’s big enough for the public markets.

In its IPO prospectus released on Tuesday, the maker of home stationary bikes and treadmills attributed its growth — more than 100% in the past year — to the “growing awareness of the benefits of exercise and physical activity.” The company said that over the past two decades, even in times of recession, the fitness industry has grown in the U.S. and abroad.

But Peloton suffers from the same deficiency that plagues other digital health products and services like activity trackers, personal training apps and fitness classes. It’s not actually moving the needle when it comes to the country’s health.

More than 1 in 3 Americans are considered obese, which adds up to at least $147 billion in costs a year to the overburdened health-care system. Type 2 diabetes is on the rise, and about 610,000 people die of heart disease every year in the U.S., according to the Centers for Disease Control and Prevention. There’s a tight relationship between income level and risk of cardiovascular disease.

The Peloton bike costs more than $2,200 for the most basic package, and that doesn’t include the monthly fees for classes. That’s far out of reach for millions of Americans, who are living paycheck to paycheck. For the company to have a real impact on the health crisis it would need to reach not just urbanites who love the convenience, but also the parts of the population most in need of easy-to-use fitness services.

Peloton isn’t trying to fool anyone about its target market. The company was mocked earlier in the year in a viral tweet thread that poked fun at its ads, which are clearly aimed at the wealthy.


Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: christina farr
Keywords: news, cnbc, companies, need, fitness, reach, wealthy, classes, shows, thats, healthy, ipo, paycheck, serving, making, pelotons, past, peloton, company, living


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Everything we learned at D23’s Disney+ panel

In the first year of its service, Disney+ will have the entire collection of Pixar films, animated classics, Marvel and Star Wars, Kevin Mayer, chairman of direct-to-consumer, said during the panel. The Disney ChannelDisney+ will be home to more than 5,000 episodes of content from The Disney Channel as well as more than 100 Disney Channel Original Movies, Gary Marsh, head of Disney Channel, said during the panel. “High School Musical The Musical The Series” will also debut on Disney+. The show r


In the first year of its service, Disney+ will have the entire collection of Pixar films, animated classics, Marvel and Star Wars, Kevin Mayer, chairman of direct-to-consumer, said during the panel. The Disney ChannelDisney+ will be home to more than 5,000 episodes of content from The Disney Channel as well as more than 100 Disney Channel Original Movies, Gary Marsh, head of Disney Channel, said during the panel. “High School Musical The Musical The Series” will also debut on Disney+. The show r
Everything we learned at D23’s Disney+ panel Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: sarah whitten
Keywords: news, cnbc, companies, disney, learned, series, episodes, school, d23s, shows, service, high, marvel, feige, panel, original


Everything we learned at D23's Disney+ panel

Bob Iger attends the World Premiere of Walt Disney Studios Motion Pictures ‘Avengers: Endgame’ at Los Angeles Convention Center on April 22, 2019. Jeff Kravitz | FilmMagic, Inc | Getty Images

Disney is set to reveal new information about its upcoming streaming service’s shows and films during its Disney+ panel at D23 Expo in Anaheim, California. The video streaming service will go live on November 12 and draw on Disney’s deep catalog of content and offer up new shows featuring favorite characters from “Monsters Inc.” to Marvel to “Star Wars.” The service will cost subscribers $6.99 per month, or $69.99 per year, which is at the high end of what many analysts had expected. For attendees at D23, Disney is offering $23 off per year for three years. In the first year of its service, Disney+ will have the entire collection of Pixar films, animated classics, Marvel and Star Wars, Kevin Mayer, chairman of direct-to-consumer, said during the panel. Disney has said it expects it will spend about $1 billion in 2020 on original content for the platform and $2 billion by 2024.

The Disney Channel

Disney+ will be home to more than 5,000 episodes of content from The Disney Channel as well as more than 100 Disney Channel Original Movies, Gary Marsh, head of Disney Channel, said during the panel. The company announced Friday that it will be launching a “Lizzie McGuire” show on the streaming service and will bring back Hillary Duff in the starring role. Lizzie is now nearing age 30, working in New York and still dealing with that pesky animated Lizzie. Additionally, the company will release a new “Phineas and Ferb” movie called “Candace Against the Universe,” as well as all of past episodes of the show. “High School Musical The Musical The Series” will also debut on Disney+. The show revolves around the students attending the high school in which “High School Musical” was filmed putting on a production of “High School Musical.”

Pixar

“Forky Asks a Question” is one of several new original Pixar series coming to Disney+. The show is a series of shorts in which Forky, the new character from “Toy Story 4” asks questions about the world around him. “Monsters at Work” is a show based on “Monster’s Inc.” It’s a work-based comedy set at Monsters Inc. Ben Feldman voices the lead character Tyler Tuskman, a scarer who arrives to his first day at work to discover that the company had swapped from scream power to laugh power.

Marvel

Kevin Feige, head of Marvel, said “Avengers: Endgame” will be available to stream on Disney+ on Dec. 11. From the minds of the Marvel creators comes an animated series called “What If.” It will explore hypothetical questions like: what would have happened if Peggy Carter had been given the super serum instead of Steve Rogers? Almost the entire cast of the Marvel Cinematic Universe will lend their voices to their characters in the series. One of Marvel’s four live-action series is called “Loki.” The series will answer where Loki went after stealing the Tesseract from “Avengers: Endgame” and will take place over the course of six hours. “The Loki story has just begun,” Feige teased.

Marvel Studios

“The Falcon and The Winter Soldier” will explore the past and future of both characters as well as reintroduce Sharon Carter, Peggy Carter’s neice. A new character appearing in the series is John Walker, played by Wyatt Russell, Feige teased. The series will launch in the Fall of 2020. “WandaVision” is a TV show billed as part classic sitcom and part epic Marvel adventure. Still, not much is known about exactly what the premise will entail. Elizabeth Olsen has described it as “wacky fun” while Paul Bettany has said that writing is “extraordinary.” Kat Dennings will reprise her role as Darcy Lewis and Randall Park will reprise his role as Agent Jimmy Wu from “AntMan and the Wasp,” “WandaVision,” Feige disclosed Friday. Kathryn Hahn will appear as the “nosy neighbor” that lives next door. Feige also announced three new shows: “Ms. Marvel,” “Moon Knight” and “She Hulk.”

Unscripted

Unscripted shows are another big part of Disney+’s original content. The company is coming out with “One Day at Disney,” a series with more than 50 short videos ranging from 4 to 7 minutes. These episodes profile a single person and their job. Episodes will be doled out on a weekly basis. A docu-series following Jeff Goldblum is also coming to the platform. The show will follow Goldblum as he explores mundane objects and reveals scientific and historical information about things from tattoos and ice cream to RVs and denim. “The World According to Jeff Goldblum” will have 12 episodes. “Encore!” is a show hosted by Kristen Bell brings together old high school classmates to create original theatrical performances.

Feature films

Disney+ will also be home to a number of original feature films. A live-action film remake of “Lady and the Tramp” will be exclusively available on the platform. “Noelle,” a Christmas film starring Anna Kendrick as the daughter of Santa Claus, is set to arrive on the platform on launch day. Noelle goes on a mission to find her brother, who is next in line to be Santa, after he panics and leaves the North Pole.

Star Wars


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: sarah whitten
Keywords: news, cnbc, companies, disney, learned, series, episodes, school, d23s, shows, service, high, marvel, feige, panel, original


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