Iran’s foreign minister blames Trump’s advisors for ‘very dangerous moment’ in relations with the US

Thomas Kienzle | AFP via Getty ImagesMUNICH — Iranian foreign minister Mohammad Javad Zarif called the deadly U.S. strike on Iran’s top military leader an “act of terror” and blamed President Donald Trump’s advisors. “This moment is a very dangerous moment because the United States has been misled. I believe President Trump, unfortunately, does not have good advisers,” Zarif told an audience Saturday during a discussion at the Munich Security Conference. “The United States conducts operations an


Thomas Kienzle | AFP via Getty ImagesMUNICH — Iranian foreign minister Mohammad Javad Zarif called the deadly U.S. strike on Iran’s top military leader an “act of terror” and blamed President Donald Trump’s advisors.
“This moment is a very dangerous moment because the United States has been misled.
I believe President Trump, unfortunately, does not have good advisers,” Zarif told an audience Saturday during a discussion at the Munich Security Conference.
“The United States conducts operations an
Iran’s foreign minister blames Trump’s advisors for ‘very dangerous moment’ in relations with the US Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: amanda macias
Keywords: news, cnbc, companies, dangerous, strike, tehran, foreign, advisors, moment, united, iran, soleimani, trumps, president, blames, trump, states, relations, minister, nuclear, zarif, irans


Iran's foreign minister blames Trump's advisors for 'very dangerous moment' in relations with the US

Iran’s Foreign Minister Mohammad Javad Zarif takes part in the panel discussion ‘A conversation with Iran’ during the 56th Munich Security Conference in Munich on February 15, 2020. Thomas Kienzle | AFP via Getty Images

MUNICH — Iranian foreign minister Mohammad Javad Zarif called the deadly U.S. strike on Iran’s top military leader an “act of terror” and blamed President Donald Trump’s advisors. “This moment is a very dangerous moment because the United States has been misled. I believe President Trump, unfortunately, does not have good advisers,” Zarif told an audience Saturday during a discussion at the Munich Security Conference. “Unfortunately somebody else is trying to mimic John Bolton and promised the president that killing Soleimani would bring people to dance in the streets in Tehran and Baghdad. And that the continuation of maximum pressure would bring us to our knees before his reelection campaign,” he said, adding that none of it came to pass.

Iranian mourners gather during the final stage of funeral processions for slain top general Qasem Soleimani, in his hometown Kerman on January 7, 2020. Atta Kenare | AFP | Getty Images

“That was an act of terror,” he said of the Jan. 2 strike that killed Gen. Qasem Soleimani, a key military figure of Iranian and Middle East politics. “The United States conducts operations and wants to be immune from the consequences, that doesn’t happen,” he added. On the heels of the strike, Iran launched at least a dozen missiles from its territory on Jan. 7 at two military bases in Iraq that house U.S. troops and coalition forces. A day later from the White House, Trump said that Iran appeared “to be standing down” and warned Tehran to abandon its nuclear ambitions. “As long as I am president of the United States, Iran will never be allowed to have a nuclear weapon,” Trump said speaking from the grand foyer of the White House. But he suggested that the U.S. is open to negotiations with Tehran. “We must all work together toward making a deal with Iran that makes the world a safer and more peaceful place,” he said on Jan. 8. He then urged other world powers to break away from the Obama-era nuclear agreement with Iran and work out a new deal.


Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: amanda macias
Keywords: news, cnbc, companies, dangerous, strike, tehran, foreign, advisors, moment, united, iran, soleimani, trumps, president, blames, trump, states, relations, minister, nuclear, zarif, irans


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Former New York Knick Al Harrington tells ex-players to be patient with cannabis sector

Harrington, 39, made his rounds in Chicago, the site of the 2020 NBA All-Star Game, to promote his cannabis company, Viola. His stance on the cannabis industry comes at a difficult time for the sector. “And so, the industry gets way overbought, and then it gets way oversold, which is exactly what you’ve seen in cannabis.” Unclear regulations in the U.S. have also contributed to the instability of the cannabis sector. Like Harrington, BioSteel Sports Nutrition Inc. founder Michael Cammalleri is a


Harrington, 39, made his rounds in Chicago, the site of the 2020 NBA All-Star Game, to promote his cannabis company, Viola.
His stance on the cannabis industry comes at a difficult time for the sector.
“And so, the industry gets way overbought, and then it gets way oversold, which is exactly what you’ve seen in cannabis.”
Unclear regulations in the U.S. have also contributed to the instability of the cannabis sector.
Like Harrington, BioSteel Sports Nutrition Inc. founder Michael Cammalleri is a
Former New York Knick Al Harrington tells ex-players to be patient with cannabis sector Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-16  Authors: jabari young
Keywords: news, cnbc, companies, tells, knick, sector, patient, cannabis, nba, million, harrington, tax, way, industry, york, states, explayers


Former New York Knick Al Harrington tells ex-players to be patient with cannabis sector

Al Harrington who played 16 seasons in the NBA talks about entrepreneurship and his company Viola that is involved in the cannabis industry during the Legends National Basketball Retired Players Association Conference at Caesars Palace on July 9, 2019 in Las Vegas, Nevada.

Despite the sector’s volatile state after a roller coaster 2019, former National Basketball Association forward Al Harrington continues to steer his fellow athletes to invest in cannabis while remaining patient on investment returns.

“What people have to understand is there is not a lot of profit in legal cannabis right now just because of the way its regulated, the tax structures and different things like that,” Harrington said in an interview with CNBC. “But the one thing I tell them from a risk standpoint is – its prohibition.”

“If you’re going to be a part of something that will be around forever, and we’re on the ground floor of pioneering the industry that I firmly believe will be bigger than the liquor industry and potentially bigger than the cigarette industry. And we know how big both those industries are. That’s the risk, but the reward outweighs the risk.”

Harrington, 39, made his rounds in Chicago, the site of the 2020 NBA All-Star Game, to promote his cannabis company, Viola. The company closed on a $16 million Series A funding round last October, adding new investors from ex-athletes, including former NBA players Josh Childress, Kenyon Martin, and Wilson Chandler.

Harrington, who grossed roughly $89 million in his playing career, played 15 seasons in the NBA, including two seasons with the New York Knicks.

His stance on the cannabis industry comes at a difficult time for the sector. The cannabis ETFMG Alternative Harvest ETF (MJ) is down 4.03% year to date and has dropped 37.41% over the past six months and took a 53.96% hit over the past year. ETFMG founder and CEO Sam Masucci blamed the initial excitement of the sector for its current decline, saying investors over-purchased cannabis companies.

“The prices of these companies get ahead of where they should be; they don’t have the revenue to support it,” Masucci said. “And so, the industry gets way overbought, and then it gets way oversold, which is exactly what you’ve seen in cannabis.”

Unclear regulations in the U.S. have also contributed to the instability of the cannabis sector. Though some states — like Nevada, California, Colorado, and now Illinois, which grossed over $19 million in sales the first 12 days recreational cannabis was eligible to purchase — have legalized cannabis, there is no clear sign when it could be federally regulated like in Canada, which is where many companies in the ETFMG Alternative Harvest ETF are based.

But as more states like New Jersey (which expects $210 million in state tax revenue from cannabis sales, according to the New York Times) and New York (which projects $772 million in tax revenue) get closer to the legalization of cannabis, a federal bill may gain more momentum. The 2018 Farm Bill has already legalized CBD derived from hemp plants and contains no more than 0.3% THC; hence, some form of cannabis is already legal.

“The train’s left the station,” Masucci said. “People are using it whether it’s just straight CBD, hemp derived [or] THC in states where it’s approved.”

Like Harrington, BioSteel Sports Nutrition Inc. founder Michael Cammalleri is also advising former players to research cannabis. Understanding the proper regulatory environment surrounding cannabis will help fuel investment returns.


Company: cnbc, Activity: cnbc, Date: 2020-02-16  Authors: jabari young
Keywords: news, cnbc, companies, tells, knick, sector, patient, cannabis, nba, million, harrington, tax, way, industry, york, states, explayers


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Bloomberg is considering Hillary Clinton as his running mate, says Matt Drudge

Hillary Clinton speaks onstage at ‘Hillary Clinton and Chelsea Clinton discuss their new book ‘The Book of Gutsy Women’ at The Wilshire Ebell Theatre on November 05, 2019 in Los Angeles,Presidential candidate Mike Bloomberg is considering Hillary Clinton as a vice presidential running mate after positive internal polling about the potential pairing, according to the Drudge Report, which cited sources close to the Bloomberg campaign. According to Drudge, in such a partnership Bloomberg would chan


Hillary Clinton speaks onstage at ‘Hillary Clinton and Chelsea Clinton discuss their new book ‘The Book of Gutsy Women’ at The Wilshire Ebell Theatre on November 05, 2019 in Los Angeles,Presidential candidate Mike Bloomberg is considering Hillary Clinton as a vice presidential running mate after positive internal polling about the potential pairing, according to the Drudge Report, which cited sources close to the Bloomberg campaign.
According to Drudge, in such a partnership Bloomberg would chan
Bloomberg is considering Hillary Clinton as his running mate, says Matt Drudge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: lauren hirsch
Keywords: news, cnbc, companies, considering, bloomberg, clinton, hillary, key, drudge, matt, states, president, mate, presidential, vice, running, primary


Bloomberg is considering Hillary Clinton as his running mate, says Matt Drudge

Hillary Clinton speaks onstage at ‘Hillary Clinton and Chelsea Clinton discuss their new book ‘The Book of Gutsy Women’ at The Wilshire Ebell Theatre on November 05, 2019 in Los Angeles,

Presidential candidate Mike Bloomberg is considering Hillary Clinton as a vice presidential running mate after positive internal polling about the potential pairing, according to the Drudge Report, which cited sources close to the Bloomberg campaign.

According to Drudge, in such a partnership Bloomberg would change his official residence from New York to Colorado or Florida. The constitution suggests there may be limitations in both members of a presidential ballot residing in the same state.

Jason Schechter, director of communications for the Bloomberg campaign, said in a statement to CNBC: “We are focused on the primary and the debate, not VP speculation.” A spokesperson for Clinton did not immediately respond to a request for comment.

Former First Lady and Secretary of State Hillary Clinton ran for president in 2016, losing to Donald Trump in an election that served him 304 electoral votes and Clinton 227. Helping Trump’s victory were his wins in key industrial and Rust Belt states — Wisconsin, Pennsylvania, Ohio and Michigan. Those states are likely to be key in the 2020 election as well.

Clinton was asked earlier this year by talk show host Ellen DeGeneres if she would consider running as vice president in the 2020 presidential election.

“Well, that’s not going to happen,” Clinton said at the time. “But no, probably no.”

Clinton has been less coy when addressing the current field of Democratic candidates. In an interview with The Hollywood Reporter, Hillary Clinton slammed Sen. Bernie Sanders, her main competitor in the 2016 Democratic primary, saying “nobody likes him” and accusing him of supporting sexist attacks against his rivals.

Bloomberg has recently has been asked to answer for accusations the company he founded, Bloomberg LP, was discriminatory toward women.

Bloomberg, a late contender in the presidential race, has been pouring money into ads and online memes to support his run. Those efforts appear to have born fruit, with him rising in the polls.


Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: lauren hirsch
Keywords: news, cnbc, companies, considering, bloomberg, clinton, hillary, key, drudge, matt, states, president, mate, presidential, vice, running, primary


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Pompeo says criticism of Trump’s ‘America First’ policy doesn’t ‘reflect reality’

US Secretary of State Mike Pompeo adresses the audience on the podium during the 56th Munich Security Conference in Munich on February 15, 2020. MUNICH — Secretary of State Mike Pompeo on Saturday defended the United States’ foreign policy approach and dismissed criticisms that the Trump administration disregards international alliances. The West is winning, and we’re winning together,” Pompeo said in a speech at the Munich Security Conference. “Our closest ally, the United States of America, un


US Secretary of State Mike Pompeo adresses the audience on the podium during the 56th Munich Security Conference in Munich on February 15, 2020.
MUNICH — Secretary of State Mike Pompeo on Saturday defended the United States’ foreign policy approach and dismissed criticisms that the Trump administration disregards international alliances.
The West is winning, and we’re winning together,” Pompeo said in a speech at the Munich Security Conference.
“Our closest ally, the United States of America, un
Pompeo says criticism of Trump’s ‘America First’ policy doesn’t ‘reflect reality’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: amanda macias
Keywords: news, cnbc, companies, pompeo, security, reflect, doesnt, policy, state, trumps, states, winning, munich, reality, steinmeier, america, trump, criticism, united


Pompeo says criticism of Trump's 'America First' policy doesn't 'reflect reality'

US Secretary of State Mike Pompeo adresses the audience on the podium during the 56th Munich Security Conference in Munich on February 15, 2020.

MUNICH — Secretary of State Mike Pompeo on Saturday defended the United States’ foreign policy approach and dismissed criticisms that the Trump administration disregards international alliances.

“I’m happy to report that the death of the transatlantic alliance is grossly exaggerated. The West is winning, and we’re winning together,” Pompeo said in a speech at the Munich Security Conference.

Pompeo’s remarks come a day after German President Frank-Walter Steinmeier took an indirect swipe at President Donald Trump’s “America First” campaign and warned that the United States would prioritize its own interests first at the expense of allies.

“Our closest ally, the United States of America, under the current administration, rejects the very concept of the international community,” he said. “‘Great again’ but at the expense of neighbors and partners,” Steinmeier added without naming Trump but referring to his “Make America Great Again” campaign slogan.

“Thinking and acting this way hurts us all,” he said.


Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: amanda macias
Keywords: news, cnbc, companies, pompeo, security, reflect, doesnt, policy, state, trumps, states, winning, munich, reality, steinmeier, america, trump, criticism, united


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Huawei claims US charges of stealing trade secrets are an attempt to ‘irrevocably damage’ its image

Chinese tech giant Huawei said new charges brought against the company by the U.S. Department of Justice were without merit and were part of an attempt to “irrevocably damage Huawei’s reputation and its business.” Federal prosecutors announced Thursday new criminal charges against Huawei and two of its U.S. subsidiaries, which included racketeering conspiracy charges and a charge of plotting to steal trade secrets from American companies. The superseding indictment, announced in federal court in


Chinese tech giant Huawei said new charges brought against the company by the U.S. Department of Justice were without merit and were part of an attempt to “irrevocably damage Huawei’s reputation and its business.”
Federal prosecutors announced Thursday new criminal charges against Huawei and two of its U.S. subsidiaries, which included racketeering conspiracy charges and a charge of plotting to steal trade secrets from American companies.
The superseding indictment, announced in federal court in
Huawei claims US charges of stealing trade secrets are an attempt to ‘irrevocably damage’ its image Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, wire, stealing, damage, federal, huawei, secrets, violated, states, announced, unsealed, united, charges, attempt, trade, image, irrevocably, claims


Huawei claims US charges of stealing trade secrets are an attempt to 'irrevocably damage' its image

Chinese telecom giant Huawei announced on October 16, 2019 that it has passed the 400,000 5G antennas mark, the fifth generation of mobile phones, in the world with 56 operators who have already started to roll out the new mobile network.

Chinese tech giant Huawei said new charges brought against the company by the U.S. Department of Justice were without merit and were part of an attempt to “irrevocably damage Huawei’s reputation and its business.”

Federal prosecutors announced Thursday new criminal charges against Huawei and two of its U.S. subsidiaries, which included racketeering conspiracy charges and a charge of plotting to steal trade secrets from American companies.

Huawei also allegedly assisted Iran’s government in domestic surveillance during the 2009 demonstrations in Tehran and tried to conceal the scope of its business in North Korea, according to the indictment.

The superseding indictment, announced in federal court in Brooklyn, New York, adds to previous charges filed against Huawei. The earlier charges, unsealed last January, alleged the company lied to banks, committed wire fraud and violated economic sanctions against Iran, and Huawei pleaded not guilty to those charges.

“These new charges are without merit and are based largely on recycled civil disputes from the last 20 years that have been previously settled, litigated and, in some cases, rejected by federal judges and juries,” Huawei said in a statement Friday morning. “The US government will not prevail with its charges, which we will prove to be both unfounded and unfair.”

Huawei is involved in a number of legal battles in the United States: Federal prosecutors indicted Huawei in Seattle on theft of trade secret charges relating to T-Mobile, which was also unsealed last January.

Chief Financial Officer Meng Wanzhou, charged with bank and wire fraud that were said to have violated U.S. sanctions on Iran, faces extradition to the United States. Meng, the daughter of Huawei founder Ren Zhengfei, was arrested in Vancouver, Canada in December 2018.

The Chinese firm has also filed two lawsuits against Verizon alleging the U.S. carrier infringed patents held by Huawei.


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, wire, stealing, damage, federal, huawei, secrets, violated, states, announced, unsealed, united, charges, attempt, trade, image, irrevocably, claims


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Massachusetts AG Maura Healey explains the state’s lawsuit against Juul

Massachusetts AG Maura Healey explains the state’s lawsuit against JuulMassachusetts is going after e-cigarette maker Juul for marketing to teenagers and non-smokers. The lawsuit contends Juul bought advertising on websites for Nickelodeon and the Cartoon Network after launching its product in 2015. The new allegations contradict claims made by Juul executives that the company never intentionally targeted teenagers. Massachusetts Attorney General Maura Healey joins “Squawk Box” to discuss.


Massachusetts AG Maura Healey explains the state’s lawsuit against JuulMassachusetts is going after e-cigarette maker Juul for marketing to teenagers and non-smokers.
The lawsuit contends Juul bought advertising on websites for Nickelodeon and the Cartoon Network after launching its product in 2015.
The new allegations contradict claims made by Juul executives that the company never intentionally targeted teenagers.
Massachusetts Attorney General Maura Healey joins “Squawk Box” to discuss.
Massachusetts AG Maura Healey explains the state’s lawsuit against Juul Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-13
Keywords: news, cnbc, companies, explains, maura, squawk, lawsuit, healey, targeted, states, massachusetts, juul, websites, teenagers


Massachusetts AG Maura Healey explains the state's lawsuit against Juul

Massachusetts AG Maura Healey explains the state’s lawsuit against Juul

Massachusetts is going after e-cigarette maker Juul for marketing to teenagers and non-smokers. The lawsuit contends Juul bought advertising on websites for Nickelodeon and the Cartoon Network after launching its product in 2015. The new allegations contradict claims made by Juul executives that the company never intentionally targeted teenagers. Massachusetts Attorney General Maura Healey joins “Squawk Box” to discuss.


Company: cnbc, Activity: cnbc, Date: 2020-02-13
Keywords: news, cnbc, companies, explains, maura, squawk, lawsuit, healey, targeted, states, massachusetts, juul, websites, teenagers


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The number of very rich people surged in 2019—here’s why

The number of rich people around the world shot up in 2019. (In the United States, that is the Federal Reserve Bank.) There were 969,075 very rich individuals in the United States in 2019, up 15.9% from the year earlier. China had the second highest number of very high net worth individuals, with 259,830; it was followed by Japan with 186,250 and Germany with 129,875. Taken together, the combined net worth of these very rich individuals rose by more than 10% to $26.6 trillion in 2019, Wealth-X s


The number of rich people around the world shot up in 2019.
(In the United States, that is the Federal Reserve Bank.)
There were 969,075 very rich individuals in the United States in 2019, up 15.9% from the year earlier.
China had the second highest number of very high net worth individuals, with 259,830; it was followed by Japan with 186,250 and Germany with 129,875.
Taken together, the combined net worth of these very rich individuals rose by more than 10% to $26.6 trillion in 2019, Wealth-X s
The number of very rich people surged in 2019—here’s why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: catherine clifford
Keywords: news, cnbc, companies, wealthx, rose, worth, 2019heres, united, surged, states, number, rich, net, individuals, 2019, million


The number of very rich people surged in 2019—here's why

The number of rich people around the world shot up in 2019.

That’s according to a report released Wednesday from market research firm Wealth-X focusing on the “very high net worth” population, defined as those with a net worth of between $5 million and $30 million.

The number of people with a net worth of between $5 million and $30 million rose to 2.67 million in 2019, a growth rate of 10% from 2.39 million people in 2018, Wealth-X says.

By comparison, the number of people with a net worth of between $5 million and $30 million rose to 2.39 million individuals in 2018, a growth rate of just 1% from 2.35 million individuals in 2017, a Wealth-X spokesperson tells CNBC Make It.

The jump is due to the prices of most asset classes rising in 2019, according to Wealth-X.

For example, the United States stock market was up across the board in 2019: the S&P 500 was up 28.9% for 2019, its biggest one-year gain since 2013; the Nasdaq was up 35.2% in 2019, its best one-year performance in six years; and the Dow rose 22.3% in 2019, its best annual performance since 2017, CNBC reported.

The surge in stock prices was largely due to global central banks focusing on “monetary stimulus” programs, wherein the leading central banks cut interest rates to stimulate the economy, according to Wealth-X. (In the United States, that is the Federal Reserve Bank.)

The United States was home to the majority of people with a net worth of between $5 million and $30 million, when compared by country. There were 969,075 very rich individuals in the United States in 2019, up 15.9% from the year earlier.

Of course, the United States also has a stark wealth gap, with income inequality in 2019 at its highest level in at least 50 years, according to one measurement from the government’s Census Bureau.

China had the second highest number of very high net worth individuals, with 259,830; it was followed by Japan with 186,250 and Germany with 129,875.

Taken together, the combined net worth of these very rich individuals rose by more than 10% to $26.6 trillion in 2019, Wealth-X says.

See also:

Global wealth inequality is ‘founded on sexism,’ says Oxfam International

Billionaire Marc Benioff: Capitalism has ‘led to horrifying inequality’ and must be fixed

This free cash plan would pay you $1,320 per month and wouldn’t cost the government a cent


Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: catherine clifford
Keywords: news, cnbc, companies, wealthx, rose, worth, 2019heres, united, surged, states, number, rich, net, individuals, 2019, million


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Judge approves $26 billion merger of T-Mobile and Sprint

Shares of Sprint soared Tuesday after a U.S. District judge ruled in favor of its $26 billion deal to merge with T-Mobile. The judge laid out three points on which the court rejected the states’ objections to the merger. Second, the court rejected that Sprint would be able to continue operating effectively as a wireless services competitor without the merger. Legere had been expected to step down once the company’s merger with Sprint was completed. Sprint and T-Mobile had initially said Legere w


Shares of Sprint soared Tuesday after a U.S. District judge ruled in favor of its $26 billion deal to merge with T-Mobile.
The judge laid out three points on which the court rejected the states’ objections to the merger.
Second, the court rejected that Sprint would be able to continue operating effectively as a wireless services competitor without the merger.
Legere had been expected to step down once the company’s merger with Sprint was completed.
Sprint and T-Mobile had initially said Legere w
Judge approves $26 billion merger of T-Mobile and Sprint Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: lauren feiner
Keywords: news, cnbc, companies, deal, merger, wireless, ruling, states, network, judge, sprint, dish, court, approves, billion, tmobile


Judge approves $26 billion merger of T-Mobile and Sprint

Shares of Sprint soared Tuesday after a U.S. District judge ruled in favor of its $26 billion deal to merge with T-Mobile.

The stock was up 75% Tuesday morning. It had risen after hours Monday after The Wall Street Journal reported the judge was expected to rule in favor of the deal. Shares of T-Mobile were up 10%.

The ruling clears one of the final hurdles for the deal, which still can’t close until the California Public Utilities Commission approves the transaction. Tuesday’s ruling also culminates a years-long courtship between Sprint and T-Mobile, which have made multiple attempts over the years to merge, only to abandon their plans fearing regulatory scrutiny.

Attorneys general from New York, California, Connecticut, Hawaii, Illinois, Maryland, Michigan, Minnesota, Oregon, Wisconsin, Massachusetts, Pennsylvania, Virginia and D.C. originally brought the lawsuit to block the deal following approval from the Justice Department of Federal Communications Commission. The states had argued that combining the No. 3 and No. 4 U.S. carriers would limit competition and result in higher prices for consumers. The companies had argued their merger would help them compete against top players AT&T and Verizon and advance efforts to build a nationwide 5G network.

In his decision filed Tuesday, Judge Victor Marrero wrote, “The resulting stalemate leaves the Court lacking sufficiently impartial and objective ground on which to rely in basing a sound forecast of the likely competitive effects of a merger.”

The judge laid out three points on which the court rejected the states’ objections to the merger. First, he said, they failed to convince the court that the merged party “would pursue anticompetitive behavior that, soon after the merger, directly or indirectly, will yield higher prices or lower quality for wireless telecommunications services.”

Second, the court rejected that Sprint would be able to continue operating effectively as a wireless services competitor without the merger.

“The Court is thus substantially persuaded that Sprint does not have a sustainable long-term competitive strategy and will in fact cease to be a truly national [mobile network operator],” the ruling said.

And finally, the court rejected the states’ argument that Dish Network “would not enter the wireless services market as a viable competitor nor live up to its commitments to build a national wireless network.” The deal called for Dish to step in as a new wireless player based on agreements with the DOJ and FCC. Shares of Dish were up 11% on the judge’s ruling.

In a statement following the ruling, New York Attorney General Letitia James, who helped lead the states’ push, said the states “disagree with this decision wholeheartedly, and will continue to fight the kind of consumer-harming megamergers our antitrust laws were designed to prevent.” She called the ruling and called it a “loss” for Americans who rely on wireless networks and said the states will review their options, including a potential appeal.

“From the start, this merger has been about massive corporate profits over all else, and despite the companies’ false claims, this deal will endanger wireless subscribers where it hurts most: their wallets,” James said.

California Attorney General Xavier Becerra, who also led the states’ efforts, said in a statement, “Our fight to oppose this merger sends a strong message: even in the face of powerful opposition, we won’t hesitate to stand up for consumers who deserve choice and fair prices. We’ll stand on the side of competition over megamergers, every time. And our coalition is prepared to fight as long as necessary to protect innovation and competitive costs.”

Top executives at T-Mobile and Sprint claimed a victory with the judge’s ruling.

“[N]ow we are finally able to focus on the last steps to get this merger done!” T-Mobile CEO John Legere said in a statement.

T-Mobile and Sprint agreed to certain concessions to the government before the agencies cleared the deal. The companies told the FCC they would deploy a 5G network covering 97% of the U.S. population within three years of closing the deal. Sprint also agreed to sell Boost Mobile, Virgin Mobile and other prepaid phone businesses, as well as some of its wireless spectrum to Dish for $5 billion before gaining approval from the Justice Department.

FCC Chaitman Ajit Pai said in a statement that he was “pleased” with the court’s ruling and that the merger “will help close the digital divide and secure United States leadership in 5G,” calling it “a big win for American consumers.”

Dish Co-founder and Chairman Charlie Ergen said in a statement that the ruling and approvals from the DOJ and FCC

“accelerates our ability to deploy the nation’s first virtualized, standalone 5G network and bring 5G to America.”

If approved by the California commission, the deal would create a new wireless competitor in Dish, which has tried for years to become a provider, spending billions on airwaves it has stored away. Under a previous deal between Dish and the DOJ and FCC, the company had a deadline this year to build a narrowband internet of things (IoT) network connecting “people and sensors and microprocessors.” If the deal clears, Dish will instead focus its efforts on building a 5G network covering 20% of the country by June 2022 and 70% of the U.S. population by June 2023, with the consequence of facing a $2.2 billion payment to the U.S. Treasury if it fails to live up to its commitments.

Legere, the T-Mobile CEO, announced last year he would step down from the role and be succeeded by President and COO Mike Sievert. Legere had been expected to step down once the company’s merger with Sprint was completed. Sprint and T-Mobile had initially said Legere would lead the combined company when they announced their intention to merge in April 2018.

-CNBC’s Alex Sherman contributed to this report.

Subscribe to CNBC on YouTube.

WATCH: John Legere to be replaced by Mike Sievert


Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: lauren feiner
Keywords: news, cnbc, companies, deal, merger, wireless, ruling, states, network, judge, sprint, dish, court, approves, billion, tmobile


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Lawmakers kick the can down the road on discussing the most contentious issues of privacy legislation

First is preemption: the question of whether a federal law should override state laws, which Republicans tend to favor to create consistency for businesses. These issues could prolong the debate over a federal law, leaving tech companies with greater uncertainty around how they’ll need to change their businesses to comply with a growing set of state privacy laws. Stronger than CaliforniaWhen it comes to the most divisive issues around digital privacy law, some lawmakers are opting to push them o


First is preemption: the question of whether a federal law should override state laws, which Republicans tend to favor to create consistency for businesses.
These issues could prolong the debate over a federal law, leaving tech companies with greater uncertainty around how they’ll need to change their businesses to comply with a growing set of state privacy laws.
Stronger than CaliforniaWhen it comes to the most divisive issues around digital privacy law, some lawmakers are opting to push them o
Lawmakers kick the can down the road on discussing the most contentious issues of privacy legislation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-08  Authors: lauren feiner
Keywords: news, cnbc, companies, schakowsky, private, state, bill, road, issues, states, lawmakers, laws, federal, privacy, discussing, legislation, law, strong, kick, contentious


Lawmakers kick the can down the road on discussing the most contentious issues of privacy legislation

Rep. Jan Schakowsky, left, and Rep. Cathy McMorris Rodgers Tom Williams | CQ-Roll Call | Getty Images; Zach Gibson | Getty Images

As California’s digital privacy bill hurtles toward the first day of enforcement on July 1, federal lawmakers are under pressure to establish a national standard. Several proposals are making their way around Congress but two points of contention still threaten to hold up negotiations over new legislation. First is preemption: the question of whether a federal law should override state laws, which Republicans tend to favor to create consistency for businesses. Democrats often argue it would prevent states from creating stronger laws in the future. Second is the question of whether individuals should be able to sue companies they believe violated their rights, a typically Democrat-backed concept known as private right of action. Republicans tend to argue it would result in frivolous and burdensome lawsuits on businesses. These issues could prolong the debate over a federal law, leaving tech companies with greater uncertainty around how they’ll need to change their businesses to comply with a growing set of state privacy laws. Tech executives have voiced their concerns to lawmakers directly, arguing that a disparate set of laws will be most burdensome on smaller businesses. In interviews with CNBC, three members of the House of Representatives shared what they see as the path forward for privacy legislation, including how to gain bipartisan support. Despite differing views over the types of enforcement mechanisms that should be created and where the law should take precedence, they largely agreed that creating a strong federal bill with tough enforcement should take priority over discussions around the most contentious issues at play.

Stronger than California

When it comes to the most divisive issues around digital privacy law, some lawmakers are opting to push them off. The top Democrat and Republican on the House Subcommittee on Consumer Protection and Commerce, Rep. Jan Schakowsky, D-Ill., and Rep. Cathy McMorris Rodgers, R-Wash., have been working on a bill together that so far side-steps the questions of preemption and private right of action. That was a deliberate choice to focus first on the language of the bill and get feedback from staff and industry stakeholders. The thinking goes: make a strong enough bill and those issues will be easier to resolve. “If we have a great bill that is really, really strong, stronger than the California law or what Colorado or Washington state are looking at or what Europe is doing, we can have that conversation,” Schakowsky said in an interview with CNBC last week, referring to the discussion around the two key issues. “But we can’t start with that … We aren’t nearly there yet.” “Those issues absolutely have to be addressed. Those are important,” McMorris Rodgers said last week. “In the staff draft we wanted to present strong language for people to consider so that it would be a model for the country. And our hope is that the stakeholders and industry would see this as a way to reach an agreement and then support this as the model for a national standard.” The issues may not be fully black or white. “There may be ways to reach compromise,” Schakowsky said. “Are there areas where states can fill gaps and go beyond what a federal bill would be? So you know, rather than just across the board, no preemption, we can look at that. We will look at that.” Other lawmakers have opted to tackle preemption and private right of action more directly. A bill lead by Sen. Maria Cantwell, a Washington lawmaker and the top Democrat on the Commerce Committee, includes the private right of action and does not preempt state laws. The Republican proposal, led by Commerce Committee Chairman Roger Wicker of Mississippi, takes the opposite stance on those issues. Still, at a committee hearing in December, senators on both sides echoed the need to come to a bipartisan solution.

Rep. Anna Eshoo, D-Calif., speaks during a rally in the Capitol Building to call on the Senate to vote on House Democrats’ prescription drugs and health care package on Wednesday, May 15, 2019. Tom Williams | CQ-Roll Call, Inc. | Getty Images

A House bill proposed by two Silicon Valley Democrats, Reps. Anna Eshoo and Zoe Lofgren does not include a provision preempting state laws. Eshoo said in an interview that she’s willing to listen to her peers’ thoughts on the matter but is hesitant to delete the work put forth by states. “There’s some states that are far ahead of the federal government, we haven’t done a damn thing. So what are we going to say to them, wipe out what you’ve done? They’re a thousand miles ahead of us at this point,” she said. Their bill also adds a sort of gatekeeper for individuals seeking to file suit against a company under their proposed legislation. The bill allows for individuals to sue for declaratory or injunctive relief or damages if they’re not acting collectively, but for collective private civil actions, states can appoint nonprofits to pursue damages on behalf of constituents.

Pushing the status quo


Company: cnbc, Activity: cnbc, Date: 2020-02-08  Authors: lauren feiner
Keywords: news, cnbc, companies, schakowsky, private, state, bill, road, issues, states, lawmakers, laws, federal, privacy, discussing, legislation, law, strong, kick, contentious


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Democratic debate: 2020 candidates attack Michael Bloomberg’s huge campaign spending

Democratic presidential candidate and former New York Mayor Michael Bloomberg speaks at a campaign stop at Eastern Market in Detroit, Michigan, on February 4, 2020. Four candidates in the primary race were not on the stage, however: former New York Mayor Michael Bloomberg, ex-Massachusetts Gov. Deval Patrick, Sen. Michael Bennet of Colorado and Rep. Tulsi Gabbard of Hawaii. Bloomberg has piled money into states that hold their primaries on March 3, Super Tuesday. Vermont Sen. Bernie Sanders, a s


Democratic presidential candidate and former New York Mayor Michael Bloomberg speaks at a campaign stop at Eastern Market in Detroit, Michigan, on February 4, 2020.
Four candidates in the primary race were not on the stage, however: former New York Mayor Michael Bloomberg, ex-Massachusetts Gov.
Deval Patrick, Sen. Michael Bennet of Colorado and Rep. Tulsi Gabbard of Hawaii.
Bloomberg has piled money into states that hold their primaries on March 3, Super Tuesday.
Vermont Sen. Bernie Sanders, a s
Democratic debate: 2020 candidates attack Michael Bloomberg’s huge campaign spending Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-07  Authors: kevin breuninger
Keywords: news, cnbc, companies, warren, ought, huge, 2020, bloomberg, michael, states, campaign, think, bloombergs, debate, money, sen, trump, candidates, super, attack, spending, democratic


Democratic debate: 2020 candidates attack Michael Bloomberg's huge campaign spending

Democratic presidential candidate and former New York Mayor Michael Bloomberg speaks at a campaign stop at Eastern Market in Detroit, Michigan, on February 4, 2020.

Seven Democrats vying to unseat President Donald Trump in 2020 appeared on the Manchester, New Hampshire, stage Friday night, just days before that state’s crucial primary election.

Four candidates in the primary race were not on the stage, however: former New York Mayor Michael Bloomberg, ex-Massachusetts Gov. Deval Patrick, Sen. Michael Bennet of Colorado and Rep. Tulsi Gabbard of Hawaii.

But Bloomberg, the multibillionaire who arrived late to the race, became part of the discussion when Sen. Elizabeth Warren bashed him over the piles of cash he’s spent on his campaign so far.

Asked why she believed she was a better fit than Bloomberg to beat Trump, Warren said, “I don’t think anyone ought to be able to buy their way into nomination or to be president of the United States.”

The line scored a round of applause from the crowd. And Warren added in an apparent dig at former South Bend, Ind., Mayor Pete Buttigieg as she continued.

“I don’t think any billionaire ought to be able to do it, and I don’t think people who suck up to billionaires in order to fund their campaigns ought to do it,” she said.

Warren had previously blasted Buttigieg, who claimed victory in the Iowa caucus this week, for holding a ritzy fundraising event inside a “wine cave” — a moment that quickly went viral.

Bloomberg will not appear on any ballots until Super Tuesday. But he is rising in the polls after dumping hundreds of millions of dollars into his campaign. He even bought a 60-second Super Bowl ad, one of the priciest time slots on television.

Bloomberg has piled money into states that hold their primaries on March 3, Super Tuesday. The slate of 14 primaries includes the delegate-rich California and Texas.

Asked after the debate what kind of support he expects Bloomberg to get on Super Tuesday, Bernie Sanders advisor Jeff Weaver contended voters would oppose the former mayor’s strategy of ignoring the first four nominating states and funneling money into later contests.

“I think Democratic voters are going to be sort of repulsed by that kind of politics when the time comes,” he said.

His efforts appear to be paying off: Bloomberg has surpassed multiple other candidates, according to RealClearPolitics’ polling average, and he is seen in betting markets as the most likely candidate to beat Trump in a general election.

Other candidates at the debate piled on Bloomberg when they got the chance.

“I can’t stand the big money in politics,” said Sen. Amy Klobuchar of Minnesota.

Vermont Sen. Bernie Sanders, a self-described democratic socialist, tore into Bloomberg’s strategy as “nonsense.” He called for moving the U.S. to a system of “public funding of elections.”

— CNBC’s Jacob Pramuk contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-02-07  Authors: kevin breuninger
Keywords: news, cnbc, companies, warren, ought, huge, 2020, bloomberg, michael, states, campaign, think, bloombergs, debate, money, sen, trump, candidates, super, attack, spending, democratic


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