Taiwan’s president is planning another stopover in the US. China will be infuriated

Taiwan’s President Tsai Ing-wen waves while registering as the ruling Democratic Progressive Party (DPP) 2020 presidential candidate at the party’s headquarter in Taipei on March 21, 2019. Taiwan’s president is expected to transit in the U.S. on Friday for the second time this month, when she returns from visiting diplomatic allies in the Caribbean — a move that will make China very angry. Tsai Ing-wen, the island’s pro-independence leader, is due to make her second stopover in Denver on Friday.


Taiwan’s President Tsai Ing-wen waves while registering as the ruling Democratic Progressive Party (DPP) 2020 presidential candidate at the party’s headquarter in Taipei on March 21, 2019. Taiwan’s president is expected to transit in the U.S. on Friday for the second time this month, when she returns from visiting diplomatic allies in the Caribbean — a move that will make China very angry. Tsai Ing-wen, the island’s pro-independence leader, is due to make her second stopover in Denver on Friday.
Taiwan’s president is planning another stopover in the US. China will be infuriated Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: huileng tan
Keywords: news, cnbc, companies, ties, stopover, tsais, state, planning, taipei, tsai, china, president, selfruled, visit, infuriated, taiwan, taiwans, transit


Taiwan's president is planning another stopover in the US. China will be infuriated

Taiwan’s President Tsai Ing-wen waves while registering as the ruling Democratic Progressive Party (DPP) 2020 presidential candidate at the party’s headquarter in Taipei on March 21, 2019.

Taiwan’s president is expected to transit in the U.S. on Friday for the second time this month, when she returns from visiting diplomatic allies in the Caribbean — a move that will make China very angry.

Tsai Ing-wen, the island’s pro-independence leader, is due to make her second stopover in Denver on Friday.

“China opposes official exchange between the US and Taiwan. This position is firm and clear,” the Chinese foreign ministry said on July 12. The U.S. should not to allow Tsai’s transit and must “stop the official exchange with Taiwan,” said Geng Shuang, spokesperson for the Chinese foreign ministry.

The visit comes on the heels of the U.S. State Department recently approving a $2.2 billion sale of weapons to Taiwan— a self-ruled island viewed by Beijing as a breakaway province that has no right to state-to-state ties.

The timing of both is significant and reflects a “much higher risk tolerance from the Donald Trump administration when it comes to growing U.S.-Taiwan ties, ” said Kelsey Broderick, China analyst at the Eurasia Group, a risk consultancy.

The U.S. State Department sought to downplay Tsai’s visit, describing it as “private and unofficial.”

Earlier in July, Tsai transited through New York — another major U.S. city — when she was on her way to the Caribbean. That visit saw her meeting members of the U.S. Congress as well as representatives from Taiwan’s 17 remaining diplomatic allies, and speaking at Columbia University. She also addressed a 1,000-strong crowd of supporters, according to the Taipei Times.

Her visits come at a low point in U.S.-China relations. In addition to sparring over trade, the world’s two biggest economies are also at loggerheads over Taiwan.

Washington’s ties with the self-ruled island are technically unofficial. But under the Taiwan Relations Act, “the United States shall provide Taiwan with arms of a defensive character.”


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: huileng tan
Keywords: news, cnbc, companies, ties, stopover, tsais, state, planning, taipei, tsai, china, president, selfruled, visit, infuriated, taiwan, taiwans, transit


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Trump hosts US airline executives — and their Qatari rival — amid tensions over Gulf state subsidies

U.S. airline executives left a meeting with President Donald Trump at the White House Thursday without securing a commitment to intervene in a long-running dispute over Middle Eastern air carriers, according to White House officials and people familiar with the meeting. The private session in the Oval Office with executives from United Airlines, American Airlines, among others, highlighted tensions between the U.S. air carriers and the White House over steps taken by a Qatari competitor. U.S. ca


U.S. airline executives left a meeting with President Donald Trump at the White House Thursday without securing a commitment to intervene in a long-running dispute over Middle Eastern air carriers, according to White House officials and people familiar with the meeting. The private session in the Oval Office with executives from United Airlines, American Airlines, among others, highlighted tensions between the U.S. air carriers and the White House over steps taken by a Qatari competitor. U.S. ca
Trump hosts US airline executives — and their Qatari rival — amid tensions over Gulf state subsidies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: eamon javers phil lebeau, eamon javers, phil lebeau
Keywords: news, cnbc, companies, tensions, gulf, airline, qatari, rival, session, qatar, state, sought, trump, air, white, carriers, amid, hosts, executives, house, subsidies


Trump hosts US airline executives — and their Qatari rival — amid tensions over Gulf state subsidies

U.S. airline executives left a meeting with President Donald Trump at the White House Thursday without securing a commitment to intervene in a long-running dispute over Middle Eastern air carriers, according to White House officials and people familiar with the meeting.

The private session in the Oval Office with executives from United Airlines, American Airlines, among others, highlighted tensions between the U.S. air carriers and the White House over steps taken by a Qatari competitor. The Doha-based airline serves the U.S. from Qatar but also has a minority stake in Air Italy, which has in recent years added routes to the U.S. from Milan. U.S. carriers have sought to limit the expansion of carriers which they argue receive unfair government support. The meeting came amid bruised feelings both at the White House and in the industry — although all participants sought to put a good face on the session after the fact.

The episode revealed that there are limits to the president’s generally protectionist approach to benefiting U.S. companies at the expense of their foreign competitors. In this case, Trump didn’t take action to benefit the American carriers — an outcome that was beneficial to the Qatari airline. Qatar is also proving a tricky piece in the dispute since it is a big consumer of U.S. goods. Earlier this month, Trump touted Qatar Airways’ purchase of five freighters made by Boeing and its use of General Electric engines to power new planes.


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: eamon javers phil lebeau, eamon javers, phil lebeau
Keywords: news, cnbc, companies, tensions, gulf, airline, qatari, rival, session, qatar, state, sought, trump, air, white, carriers, amid, hosts, executives, house, subsidies


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Judge denies J&J’s request to transfer 2,400 talc lawsuits to federal court

Containers of Johnson’s baby powder made by Johnson and Johnson are displayed on a shelf on July 13, 2018 in San Francisco, California. A federal judge on Friday denied Johnson & Johnson’s request to transfer about 2,400 lawsuits over its talc-based baby powder to a district court in Delaware, sending the cases back to state courts. In a ruling Friday, Judge Maryellen Noreika said the Delaware federal court does not have authority over the lawsuits against J&J simply because J&J’s supplier filed


Containers of Johnson’s baby powder made by Johnson and Johnson are displayed on a shelf on July 13, 2018 in San Francisco, California. A federal judge on Friday denied Johnson & Johnson’s request to transfer about 2,400 lawsuits over its talc-based baby powder to a district court in Delaware, sending the cases back to state courts. In a ruling Friday, Judge Maryellen Noreika said the Delaware federal court does not have authority over the lawsuits against J&J simply because J&J’s supplier filed
Judge denies J&J’s request to transfer 2,400 talc lawsuits to federal court Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: angelica lavito
Keywords: news, cnbc, companies, transfer, judge, talc, jj, johnson, 2400, federal, court, powder, request, delaware, cases, jjs, lawsuits, denies, ovarian, baby, state


Judge denies J&J's request to transfer 2,400 talc lawsuits to federal court

Containers of Johnson’s baby powder made by Johnson and Johnson are displayed on a shelf on July 13, 2018 in San Francisco, California.

A federal judge on Friday denied Johnson & Johnson’s request to transfer about 2,400 lawsuits over its talc-based baby powder to a district court in Delaware, sending the cases back to state courts.

J&J asked to transfer the cases, which alleg its baby powder contained asbestos and caused ovarian and other cancers, from state courts to a district court in Delaware after its talc supplier Imerys, facing talc lawsuits of its own, sought Chapter 11 protection in Delaware earlier this year.

In a ruling Friday, Judge Maryellen Noreika said the Delaware federal court does not have authority over the lawsuits against J&J simply because J&J’s supplier filed for bankruptcy there. Noreika also said J&J failed to establish the lawsuits against the company directly affect Imerys and its bankruptcy proceedings.

“The judges in the states who are already handling these cases are better suited to hear the claims before them than is this Court, which would have to hear thousands of cases and apply different state laws to each,” she said.

The denial leaves J&J at the mercy of dozens of different courts and judges. State courts have so far delivered J&J mixed results. A Missouri jury ordered the company to pay $4.69 billion to 22 women who alleged the company’s talc-based baby powders contained asbestos and caused them to develop ovarian cancer.

“We are disappointed in this decision, which would have streamlined the process for reviewing current cases and increased overall efficiency for all parties involved,” a J&J spokeswoman said in a statement.

The company said its position that the baby powder is “safe and does not cause cancer has not changed,” and that it will continue to “vigorously defend” its products in court.

J&J faces more than 14,000 lawsuits alleging its baby powder causes ovarian cancer and mesothelioma.

WATCH: ‘We unequivocally believe’ our baby powder does not contain asbestos: Johnson & Johnson CEO


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: angelica lavito
Keywords: news, cnbc, companies, transfer, judge, talc, jj, johnson, 2400, federal, court, powder, request, delaware, cases, jjs, lawsuits, denies, ovarian, baby, state


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Iranian forces seize foreign oil tanker, crew: Iran state TV

Iran’s paramilitary Revolutionary Guard forces seized a foreign oil tanker accused of smuggling oil, Iran’s state TV reported Thursday. The vessel appears to be a United Arab Emirates-based tanker that had disappeared off trackers in Iranian territorial waters over the weekend. It said the oil tanker had 12 foreign crew members on board and was involved in smuggling some 1 million liters (264,000 gallons) of fuel from Iranian smugglers to foreign customers. The report said the oil tanker was int


Iran’s paramilitary Revolutionary Guard forces seized a foreign oil tanker accused of smuggling oil, Iran’s state TV reported Thursday. The vessel appears to be a United Arab Emirates-based tanker that had disappeared off trackers in Iranian territorial waters over the weekend. It said the oil tanker had 12 foreign crew members on board and was involved in smuggling some 1 million liters (264,000 gallons) of fuel from Iranian smugglers to foreign customers. The report said the oil tanker was int
Iranian forces seize foreign oil tanker, crew: Iran state TV Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18
Keywords: news, cnbc, companies, iran, tv, seized, seize, foreign, iranian, irans, state, oil, crew, smuggling, riah, revolutionary, island, tanker, forces


Iranian forces seize foreign oil tanker, crew: Iran state TV

Iran’s paramilitary Revolutionary Guard forces seized a foreign oil tanker accused of smuggling oil, Iran’s state TV reported Thursday. The vessel appears to be a United Arab Emirates-based tanker that had disappeared off trackers in Iranian territorial waters over the weekend.

The seizure was the latest in a series of dramatic developments as tensions mount between the United States and Iran over the unravelling nuclear deal between Tehran and world powers.

The Panamanian-flagged oil tanker MT Riah stopped transmitting its location early Sunday near Qeshm Island, which has a Revolutionary Guard base on it, according to data listed on tracking site Maritime Traffic.

Iran’s state television did not identify the seized vessel or nationalities of the crew, but said it was intercepted on Sunday. It said the oil tanker had 12 foreign crew members on board and was involved in smuggling some 1 million liters (264,000 gallons) of fuel from Iranian smugglers to foreign customers.

The report said the oil tanker was intercepted south of Iran’s Larak Island in the Strait of Hormuz. Larak is a smaller island just southeast of the larger Qeshm Island.

Crude prices, which had been falling since last week, ticked higher almost immediately after reports of the incident.

The seizure of the ship does not immediately appear to directly target any one particular country and shows the Revolutionary Guard cracking down on illegal smuggling of Iranian oil.

If the MT Riah was indeed the ship seized, the move directly singles out UAE-bound and based vessels. The 58-meter (190-foot) Riah typically made trips from Dubai and Sharjah on the UAE’s west coast before going through the strait and heading to Fujairah on the UAE’s east coast.

The UAE has been calling for a de-escalation of tensions between the U.S. and Iran in past weeks, but has also lobbied for tougher U.S. policies on Iran and supports the maximum pressure campaign of sanctions imposed by the Trump administration since the U.S. unilaterally pulled out of Iran’s nuclear deal with world powers.


Company: cnbc, Activity: cnbc, Date: 2019-07-18
Keywords: news, cnbc, companies, iran, tv, seized, seize, foreign, iranian, irans, state, oil, crew, smuggling, riah, revolutionary, island, tanker, forces


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This is how much income tax you’re paying to your state

New Yorkers are paying the heftiest state income taxes. Residents in the state paid $2,249 per capita in individual state income taxes during the 2017 fiscal year, according to data from the Tax Foundation. Meanwhile, there are seven states that don’t tax individual income: Alaska, Florida, Nevada, South Dakota, Texas, Washington state and Wyoming. Though Tennessee and New Hampshire don’t tax wages, they do levy income from interest and dividends. Here’s where your state ranks, according to the


New Yorkers are paying the heftiest state income taxes. Residents in the state paid $2,249 per capita in individual state income taxes during the 2017 fiscal year, according to data from the Tax Foundation. Meanwhile, there are seven states that don’t tax individual income: Alaska, Florida, Nevada, South Dakota, Texas, Washington state and Wyoming. Though Tennessee and New Hampshire don’t tax wages, they do levy income from interest and dividends. Here’s where your state ranks, according to the
This is how much income tax you’re paying to your state Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: darla mercado john w schoen, darla mercado, john w schoen
Keywords: news, cnbc, companies, washington, wages, income, yorkers, according, paying, state, individual, dont, youre, tax, wyomingthough


This is how much income tax you're paying to your state

New Yorkers are paying the heftiest state income taxes.

Residents in the state paid $2,249 per capita in individual state income taxes during the 2017 fiscal year, according to data from the Tax Foundation.

Connecticut came in second with $2,218. Massachusetts followed in third: $2,146.

Meanwhile, there are seven states that don’t tax individual income: Alaska, Florida, Nevada, South Dakota, Texas, Washington state and Wyoming.

Though Tennessee and New Hampshire don’t tax wages, they do levy income from interest and dividends.

Here’s where your state ranks, according to the Tax Foundation.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: darla mercado john w schoen, darla mercado, john w schoen
Keywords: news, cnbc, companies, washington, wages, income, yorkers, according, paying, state, individual, dont, youre, tax, wyomingthough


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Blue states file suit against IRS over rules on SALT workarounds

Lucas Jackson | ReutersNew Jersey is suing the Internal Revenue Service, challenging new rules that would block states’ attempts to get around a new $10,000 cap for state and local tax deductions. The state’s governor, Democrat Phil Murphy, announced the lawsuit on Wednesday morning, naming Treasury Secretary Steven Mnuchin among the defendants. “It was a complete and total utter politicization of the federal tax code,” he said. This way, the taxpayers could write off the payment as a charitable


Lucas Jackson | ReutersNew Jersey is suing the Internal Revenue Service, challenging new rules that would block states’ attempts to get around a new $10,000 cap for state and local tax deductions. The state’s governor, Democrat Phil Murphy, announced the lawsuit on Wednesday morning, naming Treasury Secretary Steven Mnuchin among the defendants. “It was a complete and total utter politicization of the federal tax code,” he said. This way, the taxpayers could write off the payment as a charitable
Blue states file suit against IRS over rules on SALT workarounds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: darla mercado, annie nova
Keywords: news, cnbc, companies, workarounds, suit, file, blue, jersey, irs, state, treasury, federal, local, rules, states, claim, york, tax, salt


Blue states file suit against IRS over rules on SALT workarounds

New Jersey Governor Phil Murphy speaks after taking the oath of office in Trenton, New Jersey, January 16, 2018. Lucas Jackson | Reuters

New Jersey is suing the Internal Revenue Service, challenging new rules that would block states’ attempts to get around a new $10,000 cap for state and local tax deductions. The state’s governor, Democrat Phil Murphy, announced the lawsuit on Wednesday morning, naming Treasury Secretary Steven Mnuchin among the defendants. “As I said when the IRS rule was finalized in June, it was nothing more than a gut punch to the middle-class New Jersey families who know that the Trump tax plan is a complete sham,” Murphy said at a press conference in South Orange, New Jersey. “It was a complete and total utter politicization of the federal tax code,” he said. New York and Connecticut have also joined the suit, which was filed in the Southern District of New York.

This same court is hearing another lawsuit filed last year by these three states, plus Maryland, against Mnuchin and the Treasury, challenging the $10,000 SALT cap itself. When the Tax Cuts and Jobs Act of 2017 imposed a $10,000 limit on deductions for state and local income, sales and property tax that itemizers could claim on their federal returns, New Jersey, New York and Connecticut responded with a workaround. The three states passed legislation that would permit municipalities to establish charitable funds to pay for local services and offer property tax credits to incentivize homeowners to give. This way, the taxpayers could write off the payment as a charitable deduction on their federal tax returns. In June the IRS and Treasury blocked this strategy, saying that the receipt of a state or local tax credit in return for making this contribution would be a “quid pro quo.” Separately, the village of Scarsdale, New York, has also filed suit against the tax agency and Mnuchin, pushing back against the new rules.

Quid pro quo

The Internal Revenue Service (IRS) headquarters in Washington, D.C. Janhvi Bhojwani | CNBC

The new rules from the IRS would reduce the amount of the federal deduction a taxpayer can claim for a charitable contribution to one of these funds. For example, if you received an 85% state tax credit for donating to a state fund, you would only be able to claim 15% of your contribution on your federal tax return. In effect, it would greatly reduce the amount residents in high-tax states can claim. Consider that, in 2016, New Yorkers writing off state and local taxes took an average SALT deduction of $21,779, according to the Tax Policy Center. Meanwhile, in New Jersey and Connecticut the average deductions were $18,092 and $19,563, respectively.

Preexisting programs


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: darla mercado, annie nova
Keywords: news, cnbc, companies, workarounds, suit, file, blue, jersey, irs, state, treasury, federal, local, rules, states, claim, york, tax, salt


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Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program

Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast. Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09. West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. Tension between the United States and Iran over Tehran’s nuclear program have previously lent support to oil futures, given the potenti


Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast. Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09. West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. Tension between the United States and Iran over Tehran’s nuclear program have previously lent support to oil futures, given the potenti
Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16
Keywords: news, cnbc, companies, secretary, progress, pompeo, program, state, drops, production, negotiate, crude, session, oil, data, earlier, iran, missile, futures, ready, prices


Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program

Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast.

Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09.

West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. The U.S. benchmark hit a session high of $60.06 earlier in the day.

“What were tailwinds have become headwinds,” said Bob Yawger, director of energy futures at Mizuho in New York. He said the same tensions between the United States and Iran that had driven prices higher earlier in the session were putting a damper on the market after Trump’s comments.

Trump said on Tuesday a lot of progress had been made with Iran and that he was not looking for regime change in the country.

Trump, who made the remarks at a Cabinet meeting in the White House, did not give details about the progress, but U.S. Secretary of State Mike Pompeo said at the meeting Iran had said it was prepared to negotiate about its missile program.

Tension between the United States and Iran over Tehran’s nuclear program have previously lent support to oil futures, given the potential for a price spike should the situation deteriorate.

Uncertainty about China’s economic prospects also pressured prices lower after data on Monday showed that growth in the country slowed to 6.2% from a year earlier, the weakest pace in at least 27 years.

Additionally, U.S. oil companies on Monday began restoring some of the nearly 74% of production that was shut at platforms in the Gulf of Mexico because of Hurricane Barry.

Workers were returning to the more than 280 production platforms that had been evacuated. It can take several days for full production to resume.

The storm will probably result in a noticeable decline in U.S. crude oil stocks this week, analysts at Commerzbank said.

Inventory data will be published by the American Petroleum Institute on Tuesday evening, and by the U.S. Department of Energy on Wednesday.

However, some say the bullish inventory data is structural, and not attributable only to the storm.

“Beyond the storm we feel we’re in a tightening inventory mode through August,” said Phil Flynn, an analyst with Price Futures Group in Chicago.


Company: cnbc, Activity: cnbc, Date: 2019-07-16
Keywords: news, cnbc, companies, secretary, progress, pompeo, program, state, drops, production, negotiate, crude, session, oil, data, earlier, iran, missile, futures, ready, prices


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Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program

Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast. Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09. West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. The U.S. benchmark hit a session high of $60.06 earlier in the day. Trump said on Tuesday a lot of progress had been made with Iran and


Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast. Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09. West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. The U.S. benchmark hit a session high of $60.06 earlier in the day. Trump said on Tuesday a lot of progress had been made with Iran and
Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16
Keywords: news, cnbc, companies, secretary, futures, crude, program, session, progress, ready, state, iran, oil, prices, barrel, earlier, negotiate, pompeo, drops, tensions, missile, high


Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program

Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast.

Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09.

West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. The U.S. benchmark hit a session high of $60.06 earlier in the day.

“What were tailwinds have become headwinds,” said Bob Yawger, director of energy futures at Mizuho in New York. He said the same tensions between the United States and Iran that had driven prices higher earlier in the session were putting a damper on the market after Trump’s comments.

Trump said on Tuesday a lot of progress had been made with Iran and that he was not looking for regime change in the country.


Company: cnbc, Activity: cnbc, Date: 2019-07-16
Keywords: news, cnbc, companies, secretary, futures, crude, program, session, progress, ready, state, iran, oil, prices, barrel, earlier, negotiate, pompeo, drops, tensions, missile, high


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Billion-dollar natural disasters rising. These states better prepare

In 2018 the United States experienced 14 disasters that cost the economy as much or more than $1 billion dollars each. That said, these are the riskiest states for extreme weather in America, according to the NOAA’s analysys of its storm events database. Texas has the highest frequency of extreme weather events over the period of analysis, and it also has the highest inflation-adjusted costs related to extreme weather. LouisianaLike Texas, Louisiana also experiences “a very high frequency” of ex


In 2018 the United States experienced 14 disasters that cost the economy as much or more than $1 billion dollars each. That said, these are the riskiest states for extreme weather in America, according to the NOAA’s analysys of its storm events database. Texas has the highest frequency of extreme weather events over the period of analysis, and it also has the highest inflation-adjusted costs related to extreme weather. LouisianaLike Texas, Louisiana also experiences “a very high frequency” of ex
Billion-dollar natural disasters rising. These states better prepare Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: kat eschner, daniel bukszpan
Keywords: news, cnbc, companies, rising, prepare, billiondollar, extreme, california, texas, states, weather, smith, natural, better, emergency, events, disasters, state


Billion-dollar natural disasters rising. These states better prepare

A bomb cyclone developing over the Midwest Source: NASA

From the heat wave currently sweeping the Midwest to the oncoming ravages of hurricane season in the south, extreme and volatile weather impacts every state in the nation. But some states are more at risk than others as global warming changes the entire landscape of the country. In 2018 the United States experienced 14 disasters that cost the economy as much or more than $1 billion dollars each. But the total cost of these hurricanes, wildfires, floods and other disasters that struck the U.S. last year is about $91 billion, according to the U.S. National Oceanic and Atmospheric Administration, which tracks U.S. weather and climate events that have great economic and societal impacts. Some studies speculate that a warming climate may be making these disasters more frequent and more intense, and the areas they hit will change over time. The trend has people in the U.S. wondering which state is the safest place to live and work. More from America’s Top States for Business:

These are America’s top 10 states to live in 2019

Amazon had it right: Virginia is America’s Top State for Business in 2019

Why Rhode Island is the worst state for business in 2019 “As natural and man-made hazards become increasingly complex and difficult to predict, the need for forward-leaning action is greater than ever before,” Michael Hart, news desk manager of FEMA’s Office of External Affairs, told CNBC via email. Natural disasters are also taking a toll on the U.S. economy, and it is spurring migration shifts. The catastrophes of 2018 weren’t an anomaly: Over each of the past three years, an average of 15 billion-dollar disasters have occurred, while the average for 1980–2018 was just 6.2 events per year. The number of billion-dollar disasters is clearly trending upward, writes Adam B. Smith, a climate scientist with the NOAA. Since 1980 weather and climate disasters have cost the US $1.6 trillion in damages, the agency reports. According to a 2018 study by Anthony Oliver-Smith the displacement of increasing numbers of people due to natural disasters has become a major challenge to states — and the federal government. FEMA pushes for a “culture of preparedness” at the national and local levels, Hart said. Being prepared at every level reduces death and injury as well as helping to lower the cost of a natural disaster. An independent study co-funded by FEMA in 2018 found that every $1 spent by the federal government on mitigation efforts saves an average of $6 in spending in the future. “This return on investment shows that investing now is an opportunity to reduce future disaster costs and accelerate recovery,” he said. That said, these are the riskiest states for extreme weather in America, according to the NOAA’s analysys of its storm events database.

Texas

One state really stands head and shoulders above the rest, and that would be Texas, ” says Smith. Over NOAA’s 40 years of analysis, the Lone Star State has experienced more than 100 separate $1 billion disasters, from the Houston floods and hurricanes of 2017 to flooding and even winter storms, which are more usually associated with the Eastern Seaboard. Texas has the highest frequency of extreme weather events over the period of analysis, and it also has the highest inflation-adjusted costs related to extreme weather. The government estimate of more than $250 billion in damage is a conservative one, Smith says. The real number is likely much higher. “Texas takes an all-hazards approach to disaster management and preparedness, whether it is hurricanes, tornadoes, floods, extreme heat or cold,” Chuck Phinney, chief of staff for the Texas Division of Emergency Management, told CNBC. That means the basic plan for dealing with disasters is the same no matter what comes: Local jurisdictions lead the emergency response push, with the state organization providing support for response and recovery.

The devastation after a tornado touches down in Texas. Photo: Getty Images

“Other than using the private sector and nonprofit organizations in our response efforts, we do not work directly with businesses,” he writes. “However, one of our objectives following a disaster is to restore critical infrastructure as quickly as possible so that businesses can open. Because disasters begin and end locally, we suggest that businesses work with the local emergency managers.”

Florida

Florida doesn’t experience anything like the frequency of billion-dollar disasters, but the ones it does experience — mostly hurricanes — are among the most costly to deal with, Smith says, making it a risky place for business. “As a result of all that hurricane impact, Florida has the second highest total damage cost only behind Texas since 1980,” he says, “about $225 billion in cumulative damage, using present dollars.” Hurricane Michael slammed into Florida, killing nearly four dozen people and destroying entire coastal communities. The storm broke records as the first of its size to strike the Florida Panhandle since records began in 1851. Coastal hurricanes bring storm surge with them, causing flooding and much other damage to property and loss of life. Flooding causes more deaths than any other kind of natural disaster the state experiences, according to state resources, and can slow regional recovery significantly. “A vital piece of an individual’s recovery is insurance,” FEMA’s Hart told CNBC. Recent historic flooding throughout the country, including in Florida, highlights the importance of flood insurance.

Local residents make their way across a washed-out road after category 4 Hurricane Michael made landfall along the Florida panhandle on Oct. 12, 2018, in Mexico Beach. Jabin Botsford | The Washington Post | Getty Images

“Certain areas of Florida are doing a pretty good job at making sure our landscapes are sufficiently intact to withstand extreme events,” said Brett Scheffers, a global change ecologist at the University of Florida. As an example, Alachua County, whose county seat is Gainesville, has an active program for land conservation, he said. “This maintains healthy forested and wetland ecosystems, which in turn maintain freshwater supply and builds and maintains resilience into the landscape.” In other areas of the state, however, “there is extensive development and building along coastlines, which makes communities at risk of extreme events such as hurricanes but also long-term events such as sea-level rise.”

California

California’s historic wildfires and struggles with related air pollution have been in the news over the past few years, and those factors do make it among the riskiest places to live and work, Smith says. The fire that wiped out the northern California community of Paradise and killed 85 people in November 2018 was the deadliest wildfire in the state’s history. It was also California’s most destructive wildfire, destroying nearly 14,000 homes. Its death toll far surpassed that of the devastating fires in Sonoma and Napa counties last year, which left 44 people dead.

Couple hugs after they manage to recover a keepsake bracelet in the rubble of their destroyed home, destroyed by the wildfire in Paradise, California, on Nov. 15, 2018. Marcus Yam | Los Angeles Times | Getty Images

From late July into August, the Mendocino Complex fire burned over 450,000 acres in Northern California, becoming the largest wildfire in state history. It surpassed last December’s Thomas fire, which previously held the record by burning over 280,000 acres in Southern California. As of early December, California’s wildfires had burned more than 2 1/2 times as much area as they did by the same time last year. They’ve scorched more than 875,000 acres this year ― eclipsing the five-year average of about 230,000 acres burned. But Smith says there’s also another disaster-related factor that his work doesn’t account for but which could potentially have a devastating effect on the state economy: earthquakes. The U.S. Geological Survey contends that California has the most damaging earthquakes because of its greater population and extensive infrastructure. Last week’s two massive earthquakes — a magnitude 6.4 that rocked southern California an July 4 and a 7.1 just a day later, the strongest one to hit the region in 20 years — is just a reminder that the Big One is coming. “It’s just a matter of time,” says Smith. Yet residents are worried about how prepared they will be when it does come: The nation’s first publicly available earthquake early warning mobile app, called ShakeAlert, was launched earlier this year as part of a pilot program designed to give Los Angeles County residents a few seconds of warning before the shaking. ShakeAlerts are issued for all quakes, including aftershocks, of magnitude 5.0 or greater in Los Angeles County. But the warning never came. That’s because the Independence Day earthquake was centered to the north in the Mojave Desert in Kern County and did not reach the shaking threshold in Los Angeles County. Funding has been secured to complete the network in California in the next two years.

Bottles scatter the floor of a convenience store, following a 7.1 magnitude earthquake that struck on July 6, 2019, in Ridgecrest, California. Mario Tama | Getty Images News | Getty Images

“It is imperative that Californians remain vigilant in preparing for the next disaster,” a government spokesperson told CNBC. “Having an emergency plan and following evacuation orders is vital to making our communities more resilient and able to recover quickly from a disaster.”

Louisiana

Like Texas, Louisiana also experiences “a very high frequency” of extreme weather events, Smith says. “So you get hit over and over.” For Louisiana, a place with historically low economic growth, “it’s never really made whole,” he says. “It feels like it’s always playing catch-up.” Like Texas, Louisiana practices an all-hazards approach, and it includes business in its public-facing emergency planning information. “We were one of the first states to establish a business Emergency Operations Center,” says Mike Steele, spokesperson for the Governor’s Office of Homeland Security and Emergency Preparedness. “It’s a way for our business and industry partners to see what needs are coming in, to deal with that particular event.” Businesses in the region, including big-box stores and industrial concerns, work with the state and with local emergency response to help Louisiana recover from extreme weather.

Safest states — for now

“The United States is pretty much loaded for so many [weather] extremes in so many places,” the NOAA’s Smith tells CNBC. But in terms of risk, all places aren’t created equal when it comes to the types, severity and numbers of disasters they experience. Some places face hurricanes, while others face wildfires and others face extreme winter storms. Others are spared almost completely. Yet while no state is completely safe, there are some that are not really prone to natural disasters of any kind. One of these is Utah, according to the NOAA. “Utah is a pretty benign place as far as extreme weather and climate events,” Smith says. Located inland, the state can experience drought and extreme winter storms that include blizzards and freezing rain, but nothing like what the other four states named here deal with.

It’s not the only place in the country, however. “Several northeastern states, such as New Hampshire, Vermont and even Maine, do not see as many of the damaging and costly extremes,” says Smith. What’s also true, though, is that places that are relatively stable now are likely to experience change over the coming decades, he says: “The bull’s-eye of risk is expanding.” That means that areas that are currently relatively stable will see changes, he says. The Northeast and North Central are likely to be the most stable places weather-wise in coming decades, while more southern states will continue to be hit by disasters at a disproportionate rate.

Several northeastern states, such as New Hampshire, Vermont and even Maine, do not see as many of the damaging and costly extremes … [but] the bull’s-eye of risk is expanding. Adam B. Smith climate scientist with the U.S. National Oceanic and Atmospheric Administration


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: kat eschner, daniel bukszpan
Keywords: news, cnbc, companies, rising, prepare, billiondollar, extreme, california, texas, states, weather, smith, natural, better, emergency, events, disasters, state


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These are the best places to live in America in 2019

Here are the states that lead the rankings for being the best places to live in the U.S. this year. 2019 Quality of Life score: 219 out of 325 points (Top States Grade: B-)Strengths: Health, well-beingWeakness: Air quality2018 Quality of Life rank: 127. 2019 Quality of Life score: 221 out of 325 points (Top States Grade: B)Strengths: Air quality, healthWeakness: Attractions2018 Quality of Life rank: 77. 2019 Quality of Life score: 235 out of 325 points (Top States Grade: B+)Strengths: Well-being


Here are the states that lead the rankings for being the best places to live in the U.S. this year. 2019 Quality of Life score: 219 out of 325 points (Top States Grade: B-)Strengths: Health, well-beingWeakness: Air quality2018 Quality of Life rank: 127. 2019 Quality of Life score: 221 out of 325 points (Top States Grade: B)Strengths: Air quality, healthWeakness: Attractions2018 Quality of Life rank: 77. 2019 Quality of Life score: 235 out of 325 points (Top States Grade: B+)Strengths: Well-being
These are the best places to live in America in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: scott cohn
Keywords: news, cnbc, companies, quality, best, states, crime, state, score, live, air, getty, places, america, life, 2019, points


These are the best places to live in America in 2019

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If you could live anywhere in America, where would that be? By the numbers, these are the states that offer the best quality of life. That’s because they offer everything people yearn for: job opportunities, affordable housing, great schools, a low cost of living, affordable health care and a clean environment. Good quality of life is also good business. What better selling point could there be for a company looking to attract the best talent than to offer a great location for employees to settle down and raise a family. In this tight labor market, companies are increasingly realizing how important this is for their strategic growth plans. It is why Quality of Life is one of the key categories worth 300 out of 2,500 points in CNBC’s annual America’s Top States for Business 2019 rankings. We use hard data to evaluate all 50 states as places to live — factors including crime rates, local attractions, environmental quality and inclusiveness as measured by legal protections written into state laws.

Here are the states that lead the rankings for being the best places to live in the U.S. this year.

10. Massachusetts

People running near Boston Harbor and Financial District at sunrise in Boston, Massachusetts. Prasit photo | Moment | Getty Images

Fewer than 3% of residents in the Bay State are without health insurance. That is the lowest uninsured rate in the nation, and it helps explain why this is one of America’s healthiest states. But that is not the only reason Massachusetts is a great place to live. Local attractions abound, from historic Boston and scenic Cape Cod in the east, to the beautiful Berkshires in the west. Boston prides itself as the Cradle of Liberty, and strong legal protections help ensure that freedom in Massachusetts applies to all. But Boston is also the cradle of some polluted air, hurting the state’s environmental quality. 2019 Quality of Life score: 217 out of 325 points (Top States Grade: B-)

Strengths: Health, attractions, inclusiveness

Weakness: Air quality

2018 Quality of Life rank: 10

9. Utah

Hiker in Arches Park Moab, Utah. Sportstock | E+ | Getty Images

The Beehive State gets its nickname from the industriousness of its citizens. Utahans not only work hard, they apparently love their work. According to Gallup’s 2018 Wellbeing Index, nowhere in the continental United States do people feel better about their careers. As busy as people are in Utah, they still find time to take care of themselves. They exercise frequently, and obesity rates are low. But air quality leaves a bit to be desired. 2019 Quality of Life score: 219 out of 325 points (Top States Grade: B-)

Strengths: Health, well-being

Weakness: Air quality

2018 Quality of Life rank: 12

7. (tie) Montana

Trail running in Big Sky. Jordan Siemens | Taxi | Getty Images

They call Montana Big Sky Country because all those unobstructed views really do make the sky seem bigger. And it turns out that big sky — and everything beneath it — contains the cleanest air in the nation according to the American Lung Association. Montana is a healthy, inclusive state, and crime is low. The state is lacking somewhat in attractions, at least in terms of places frequented by tourists. But if you are looking for breathtaking views, majestic mountains and crystal-clear waters — oh, and that big sky — this may be the place for you. 2019 Quality of Life score: 221 out of 325 points (Top States Grade: B)

Strengths: Air quality, health

Weakness: Attractions

2018 Quality of Life rank: 7

7. (tie) Colorado

Skiing the Rockies in Colorado Getty Images

The Centennial State is home to rich natural beauty, vibrant cities, and robust inclusiveness provisions firmly enshrined in state law. Coloradans are healthy. Only 22.6% of the population is obese, the lowest rate in the nation. Air quality could be better, and the crime rate is slightly worse than the national average. 2019 Quality of Life score: 221 out of 325 points (Top States Grade: B)

Strengths: Inclusiveness, health, attractions

Weakness: Air quality

2018 Quality of Life rank: 9

5. (tie) Washington

A couple enjoy an extended hike in the Pacific Northwest RyanJLane | E+ | Getty Images

The Evergreen State is among America’s healthiest states, and its people are the most physically active. Who would not want to get out and enjoy a state with such natural beauty and so much to do. Washington prides itself on inclusiveness, with strong protections built into state law. Crime is low, but air quality may leave something to be desired. 2019 Quality of Life score: 232 out of 325 points (Top States Grade: B)

Strengths: Health, inclusiveness, attractions

Weakness: Air quality

2018 Quality of Life rank: 5 (tie)

5. (tie) New Hampshire

White Mountains, New Hampshire Greg Dale | National Geographic Image Collection | Getty Images

With its famous motto, “Live Free or Die,” it stands to reason that the Granite State is among America’s most inclusive. Freedom also includes security. New Hampshire enjoys the third lowest violent crime rate in the nation. The state also boasts the nation’s lowest child poverty rate. On the other hand, air quality can suffer, partly due to the state’s proximity to Boston. And the quiet life here means New Hampshire can sometimes lack things to do. 2019 Quality of Life score: 232 out of 325 points (Top States Grade: B)

Strengths: Inclusiveness, crime rate

Weaknesses: Air quality, attractions

2018 Quality of Life rank: 5 (tie)

4. North Dakota

The International Peace Garden along the US-Canada border in North Dakota. The central division divides Canada (right) from the USA (left). Photo: Dig Deeper | Wikipedia

The Peace Garden State derives its nickname from the International Peace Garden straddling the U.S.-Canadian border, a project that has its roots at the International Gardeners Association convention exactly 90 years ago. But the term “peace garden” could also refer to the idyllic lifestyle in this state. The crime rate is low, the population is healthy and happy, and anti-discrimination laws are stronger than most. But other than the aforementioned International Peace Garden, attractions can be sparse. 2019 Quality of Life score: 235 out of 325 points (Top States Grade: B+)

Strengths: Well-being, air quality, inclusiveness

Weakness: Attractions

2018 Quality of Life rank: 4

3. Minnesota

Couple cross country skiing on a north woods trail. JMichl | iStock | Getty Images

One of the many features of the North Star state is what the locals call “Minnesota Nice,” which is exactly what it sounds like. Minnesotans are welcoming and inclusive, as evidenced by thorough legal protections against discrimination. Crime rates are low, the population is healthy, and the air is clean. We don’t factor weather into our rankings because it is too subjective. But it is worth pointing out that while winters can be brutal here, Minnesotans not only adapt to the frigid weather; they flourish in it. 2019 Quality of Life score: 259 out of 325 points (Top States Grade: A-)

Strengths: Inclusiveness, health, air quality, crime rate

Weakness: Attractions

2018 Quality of Life rank: 3

2. Vermont

Man hiking in Vermont during Autumn Getty Images

The Green Mountain State has the nation’s second-lowest crime rate, inclusive state laws, and a healthy population. Vermont rode those attributes to a first-place finish in Quality of Life in 2018. The state still offers an enviable quality of life, but it slipped just enough in terms of air quality and its citizens’ perceived well-being in 2019 to drop out of the top spot. Vermont’s one discernible weakness is the fact that it offers few popular tourist attractions, but many people here would consider that a positive. 2019 Quality of Life score: 262 out of 325 points (Top States Grade: A-)

Strengths: Crime rate, health, inclusiveness

Weakness: Attractions

2018 Quality of Life rank: 1

1. Hawaii

Woman Kayaking, Oahu, Hawaii darekm101 | RooM | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: scott cohn
Keywords: news, cnbc, companies, quality, best, states, crime, state, score, live, air, getty, places, america, life, 2019, points


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