Indicted Giuliani associate Parnas claims Trump ordered Ukraine ambassador’s firing several times before recall

Lev Parnas, the indicted associate of Rudy Giuliani, claimed in an interview that aired Thursday that President Donald Trump fired, or believed he fired, the U.S. ambassador to Ukraine several times before her recall was publicly announced in April. “He fired her probably, at least — to my knowledge — at least four, five times,” Parnas said in the second part of an interview on MSNBC’s “The Rachel Maddow Show,” according to a transcript. “I don’t know how many times at that dinner, once or twice


Lev Parnas, the indicted associate of Rudy Giuliani, claimed in an interview that aired Thursday that President Donald Trump fired, or believed he fired, the U.S. ambassador to Ukraine several times before her recall was publicly announced in April.
“He fired her probably, at least — to my knowledge — at least four, five times,” Parnas said in the second part of an interview on MSNBC’s “The Rachel Maddow Show,” according to a transcript.
“I don’t know how many times at that dinner, once or twice
Indicted Giuliani associate Parnas claims Trump ordered Ukraine ambassador’s firing several times before recall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: phil helsel
Keywords: news, cnbc, companies, allegedly, fired, indicted, trump, claims, president, ukrainian, recall, ukraine, firing, yovanovitch, ordered, giuliani, parnas, times


Indicted Giuliani associate Parnas claims Trump ordered Ukraine ambassador's firing several times before recall

Lev Parnas arrives at Federal Court on December 17, 2019 in New York City. Parnas, an associate of Rudy Giuliani, appears in court on Tuesday as federal prosecutors seek to have his bail revoked for allegedly concealing a $1 million payment they say he received from Russia before his arrest.

Lev Parnas, the indicted associate of Rudy Giuliani, claimed in an interview that aired Thursday that President Donald Trump fired, or believed he fired, the U.S. ambassador to Ukraine several times before her recall was publicly announced in April.

“He fired her probably, at least — to my knowledge — at least four, five times,” Parnas said in the second part of an interview on MSNBC’s “The Rachel Maddow Show,” according to a transcript. Parnas and another man have been charged with allegedly funneling money from foreign entities to U.S. candidates in a scheme to buy political influence.

Parnas did not say how he knew Trump previously tried to fire Marie Yovanovitch, but he appeared to indicate he learned about it at a dinner.

“I don’t know how the issue is — the conversation came up, but I do remember me telling the president that the ambassador was badmouthing him and saying that he was going to get impeached. Something to that effect,” Parnas told Maddow.

“And at that point, he turned around to John DeStefano, who was his aide at the time, and said, ‘Fire her.’ And we all, there was silence in the room,” Parnas said.

He said DeStefano replied it couldn’t happen at the time because Mike Pompeo had not yet been confirmed as secretary of state. “I don’t know how many times at that dinner, once or twice, three times, but he fired her several times at that dinner,” Parnas said, speaking of Trump.

Yovanovitch, who has been lauded for anti-corruption work, was allegedly targeted for removal by a campaign led by Giuliani, Trump’s personal attorney.

“He even had a breakdown and screams, ‘Fire her!'” to another assistant, Parnas claimed, and the assistant replied, “Mr. President, I can’t do that.'” Parnas said Trump was directing the State Department to fire Yovanovitch, and the department was refusing to do it.

The effort to oust Yovanovitch is part of the allegations against Trump that led to his impeachment by the House of Representatives, and Yovanovitch testified in the impeachment inquiry.

Trump, in a reconstruction of a July 25 phone call with Ukrainian President Volodymyr Zelenskiy released by the White House, said of Yovanovitch, “she’s going to go through some things.”

In that call Trump and Zelenskiy discussed military aid to Ukraine and Trump asked for a “favor” and appeared to call for an investigation by Ukraine into former Vice President Joe Biden and his son Hunter Biden, who had been hired to the board of Ukrainian energy company Burisma.

Giuliani said in interviews last month that Yovanovitch was an obstacle to getting Ukraine to announce the investigations he said Trump desired. He later walked it back, tweeting that she “needed to be removed for many reasons.”

The impeachment articles in part allege that Trump held up Congressionally approved military aid to Ukraine as leverage to get the Ukrainians to announce investigations into the Bidens, in an attempt to abuse the power of the presidency for his personal political gain in the 2020 election.

The U.S. Government Accountability Office said in a decision released Thursday that the Trump administration violated the law by withholding military aid to Ukraine.

Yovanovitch told House investigators her reputation was smeared by Giuliani, who seized on Ukrainian disinformation about her allegedly badmouthing the president, that she was blocking corruption investigations by circulating a “do not prosecute” list and stymying investigation into the Bidens.

She denied all the allegations under oath, and her colleagues have testified she was the victim of disinformation tactics that had been used on U.S. officials for years.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: phil helsel
Keywords: news, cnbc, companies, allegedly, fired, indicted, trump, claims, president, ukrainian, recall, ukraine, firing, yovanovitch, ordered, giuliani, parnas, times


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Analysts raise Apple price targets but warn inflated expectations ‘may make the music stop’

Adam Jeffery | CNBCMorgan Stanley and Nomura analysts on Friday raised their price targets for Apple stock as the tech giant’s shares continue to surge. However, the latter cautioned that inflated iPhone 12 expectations “may make the music stop” and questioned market enthusiasm about a “5G supercycle.” In analyst notes published early on Friday, Morgan Stanley increased its price target for Apple from $296 per share to $368 per share while Nomura lifted its projection from $225 per share to $280


Adam Jeffery | CNBCMorgan Stanley and Nomura analysts on Friday raised their price targets for Apple stock as the tech giant’s shares continue to surge.
However, the latter cautioned that inflated iPhone 12 expectations “may make the music stop” and questioned market enthusiasm about a “5G supercycle.”
In analyst notes published early on Friday, Morgan Stanley increased its price target for Apple from $296 per share to $368 per share while Nomura lifted its projection from $225 per share to $280
Analysts raise Apple price targets but warn inflated expectations ‘may make the music stop’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: elliot smith
Keywords: news, cnbc, companies, music, raise, based, wearables, targets, iphone, share, stop, target, stanley, expectations, morgan, apple, inflated, times, price, analysts, warn


Analysts raise Apple price targets but warn inflated expectations 'may make the music stop'

FAANG stocks displayed at the Nasdaq. Adam Jeffery | CNBC

Morgan Stanley and Nomura analysts on Friday raised their price targets for Apple stock as the tech giant’s shares continue to surge. However, the latter cautioned that inflated iPhone 12 expectations “may make the music stop” and questioned market enthusiasm about a “5G supercycle.” In analyst notes published early on Friday, Morgan Stanley increased its price target for Apple from $296 per share to $368 per share while Nomura lifted its projection from $225 per share to $280 per share.

The good

Apple’s stock is up a staggering 103% over the past 12 months, and Morgan Stanley analysts projected that it will continue to outperform its hardware peers based on peaking smartphone replacement cycles combined with the upcoming 5G product cycle. Morgan Stanley’s note highlighted that the iPhone replacement cycle has stretched to nearly four years since the market moved from subsidies to installment plans and the pace of technological change slowed. “However, longer battery life and upcoming 5G technology which will enable new functionality like Augmented Reality combined with aggressive trade-in offers that subsidize upgrades for existing iPhone owners suggest replacement cycles can’t stretch much further and may in fact begin to shrink,” the note said.

At the same time, Apple’s dependency on the iPhone for earnings has declined, with services and wearables now constituting 27% and 37% of profits, Morgan Stanley pointed out. The increased target is based on a higher full-year 2021 revenue base, increasing peer-driven price-to-earnings (P/E) multiples and the separation of Apple’s wearables, home and accessories products from the rest of its established hardware business, with a new and distinct multiple assigned to that business. Morgan Stanley’s implied P/E target was upped on this basis from 19.1 times to 22.2 times. A P/E ratio is an important metric used by traders to gauge the value of a stock.

The bad

Nomura’s price target increase was based on strengthening iPhone demands and orders suggesting that the iPhone 11 cycle will carry through 2020, with wearables offering an extra boost. However, Nomura analysts suggested that Apple’s current P/E ratio of 21 times earnings, up 4x since the iPhone 11 launched and 7x above its five-year average, was based primarily on market anticipation of a pending “5G supercycle,” which may be misguided. “We expect the $40-80 incremental BoM (bill of materials) cost to a 5G phone to be a barrier to adoption,” the note said, adding that “no link in the value chain — consumers, suppliers, operators, or Apple itself — is likely to shoulder that cost burden.”


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: elliot smith
Keywords: news, cnbc, companies, music, raise, based, wearables, targets, iphone, share, stop, target, stanley, expectations, morgan, apple, inflated, times, price, analysts, warn


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Why Microsoft, Google and Apple want you to ditch your password

Even when passwords are not stolen, companies can lose a lot of money trying to reset them. “Generally speaking, a typical employee contacts a help desk somewhere between 6 and 10 times a year on password related issues,” Maxim said. “So if you just do the simple multiplication of six to 10 times, times 50 dollars per call, times number of employees, in your organization, you’re talking significantly hundreds of thousands of dollars or even potentially millions of dollars a year.” In large compa


Even when passwords are not stolen, companies can lose a lot of money trying to reset them.
“Generally speaking, a typical employee contacts a help desk somewhere between 6 and 10 times a year on password related issues,” Maxim said.
“So if you just do the simple multiplication of six to 10 times, times 50 dollars per call, times number of employees, in your organization, you’re talking significantly hundreds of thousands of dollars or even potentially millions of dollars a year.”
In large compa
Why Microsoft, Google and Apple want you to ditch your password Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: magdalena petrova
Keywords: news, cnbc, companies, reset, security, password, times, research, apple, passwords, google, companies, stolen, dollars, ditch, microsoft, maxim


Why Microsoft, Google and Apple want you to ditch your password

Passwords are a very serious and expensive security risk. A report by Verizon looked at 2,013 confirmed data breaches and found that 29% of those breaches involved the use of stolen credentials.

Another study by the Ponemon Institute and IBM Security found that the average cost of a single data breach in the U.S. was more than $8 million. Even when passwords are not stolen, companies can lose a lot of money trying to reset them.

“Our research has shown that the average fully loaded cost of a help desk call to reset a password is anywhere between $40 or $50 per call,” says Merritt Maxim, vice president and research director at Forrester.

“Generally speaking, a typical employee contacts a help desk somewhere between 6 and 10 times a year on password related issues,” Maxim said. “So if you just do the simple multiplication of six to 10 times, times 50 dollars per call, times number of employees, in your organization, you’re talking significantly hundreds of thousands of dollars or even potentially millions of dollars a year.”

In large companies like Microsoft, Apple and Google with upwards of 100,000 employees each, these costs can quickly add up. Watch the video above to find out what these companies are doing to decrease our dependence on passwords, and if we will ever be able to ditch the password for good.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: magdalena petrova
Keywords: news, cnbc, companies, reset, security, password, times, research, apple, passwords, google, companies, stolen, dollars, ditch, microsoft, maxim


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Pete Buttigieg says Facebook CEO Mark Zuckerberg has too much power

Facebook CEO Mark Zuckerberg smiles at South Bend Mayor Pete Buttigieg after being asked about Buttigieg as a politician as they walk into the St. Joseph County Juvenile Justice Center during a surprise visit to South Bend, Ind., Saturday, April 29, 2017. Facebook CEO Mark Zuckerberg has too much power, Democratic presidential candidate Pete Buttigieg told The New York Times in an interview published Thursday. “No one should have that kind of power,” Buttigieg told the Times editorial board. “Th


Facebook CEO Mark Zuckerberg smiles at South Bend Mayor Pete Buttigieg after being asked about Buttigieg as a politician as they walk into the St. Joseph County Juvenile Justice Center during a surprise visit to South Bend, Ind., Saturday, April 29, 2017.
Facebook CEO Mark Zuckerberg has too much power, Democratic presidential candidate Pete Buttigieg told The New York Times in an interview published Thursday.
“No one should have that kind of power,” Buttigieg told the Times editorial board.
“Th
Pete Buttigieg says Facebook CEO Mark Zuckerberg has too much power Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: lauren feiner
Keywords: news, cnbc, companies, tech, power, zuckerberg, buttigieg, south, lot, mark, pete, bend, times, facebook, york, told, ceo


Pete Buttigieg says Facebook CEO Mark Zuckerberg has too much power

Facebook CEO Mark Zuckerberg smiles at South Bend Mayor Pete Buttigieg after being asked about Buttigieg as a politician as they walk into the St. Joseph County Juvenile Justice Center during a surprise visit to South Bend, Ind., Saturday, April 29, 2017.

Facebook CEO Mark Zuckerberg has too much power, Democratic presidential candidate Pete Buttigieg told The New York Times in an interview published Thursday.

“No one should have that kind of power,” Buttigieg told the Times editorial board.

Buttigieg told the Times that just because he and Zuckerberg share friends and both went to Harvard University “doesn’t mean we agree on a lot of things.” Buttigieg advocated for “a standard that shifts the burden to large companies, especially when they’re making acquisitions, like the acquisition of WhatsApp by Facebook, that are likely anti-competitive.”

He also criticized Facebook’s advertising policy that allows politicians to run false ads without fact-checks.

“There’s a problem of their refusal to accept their responsibility for speech that they make money from,” Buttigieg told the Times. “So, if a cable company, or a newspaper, if somebody can show that an ad that you all were going to run is false, you would pull it, and yet Facebook doesn’t want to hold themselves to that same standard.”

Previous reports have painted a fairly friendly relationship between Zuckerberg and the former mayor of South Bend, Indiana. A Buttigieg campaign spokesperson confirmed an October Bloomberg report that Zuckerberg and his wife, Priscilla Chan, successfully recommended two people to be hired to the campaign. Buttigieg and Zuckerberg overlapped at Harvard and were later connected through a mutual friend, according to Bloomberg.

For all his criticism of tech, Buttigieg has remained a popular candidate in Silicon Valley. While his approach is far more tempered than that of Massachusetts Sen. Elizabeth Warren, who outwardly advocates breaking up Big Tech, Buttigieg told the Times he believes “there’s a strong case” for doing so at Facebook.

He said many Silicon Valley tech workers support him even though they may disagree with some of his positions.

“I think you got a lot of folks there who are maybe a little less ideological, who I’m not going to agree with on everything, but also a lot of folks who, I think, are wrestling with what it is they’ve created,” Buttigieg said.

Facebook did not immediately respond to CNBC’s request for comment.

Read the full interview at The New York Times.

Subscribe to CNBC on YouTube.

WATCH: How US antitrust law works, and what it means for Big Tech


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: lauren feiner
Keywords: news, cnbc, companies, tech, power, zuckerberg, buttigieg, south, lot, mark, pete, bend, times, facebook, york, told, ceo


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Here’s why a sluggish manufacturing sector may bounce back soon

Purchasing managers have been gloomy on manufacturing for the past five months, but the weak Institute for Supply Management readings on the sector may have hit bottom. This reflects the cyclical dynamics of the manufacturing sector,” he said in a note. For December, the ISM manufacturing index fell to 47.2, the worst level since June, 2009, when it hit 46.3. He said the dates were first quarter, 1991; first quarter, 2001 and fourth quarter 2008 to first quarter, 2009. “Critically, these quarter


Purchasing managers have been gloomy on manufacturing for the past five months, but the weak Institute for Supply Management readings on the sector may have hit bottom.
This reflects the cyclical dynamics of the manufacturing sector,” he said in a note.
For December, the ISM manufacturing index fell to 47.2, the worst level since June, 2009, when it hit 46.3.
He said the dates were first quarter, 1991; first quarter, 2001 and fourth quarter 2008 to first quarter, 2009.
“Critically, these quarter
Here’s why a sluggish manufacturing sector may bounce back soon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: patti domm
Keywords: news, cnbc, companies, production, lavorgna, times, manufacturing, level, heres, soon, inventories, fell, ism, sector, quarter, bounce, sluggish


Here's why a sluggish manufacturing sector may bounce back soon

A General Motors hi-lo driver moves newly assembled engines, used in a variety of GM cars, trucks and crossovers, from final assembly at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019.

Purchasing managers have been gloomy on manufacturing for the past five months, but the weak Institute for Supply Management readings on the sector may have hit bottom.

The ISM index has been in contraction, and the sector, which has been hurt by trade wars, could be about to spring back.

That is apparent, in part, from clues within the December ISM report, released earlier this month. Joseph LaVorgna, chief economist for the Americas at Natixis, says the ISM reported a sharp drop in the level of production n December.

“While the ISM has been in contractionary territory the last five months, an extremely important development occurred last month—the level of production fell below the level of inventories. This seldom happens, and when it does, it has always coincided with a dramatic upswing in factory activity. This reflects the cyclical dynamics of the manufacturing sector,” he said in a note.

LaVorgna late last year said the rebound in semiconductor stocks could be a precursor to a rebound in overall manufacturing, but in the last ISM report for December, there was no recovery yet. For December, the ISM manufacturing index fell to 47.2, the worst level since June, 2009, when it hit 46.3.

When there is less demand for goods, manufacturers cut back on production and employment drops. Producers pare back hiring and production to levels they see as a subsistence level. LaVorgna said this happens when production is below stock piling, and manufacturers can go too far in their pullbacks.

In the last quarter, production was nearly a point below inventories, a phenomena that has happened only when the economy was in recession, said LaVorgna.

“Indeed, we found only four times since the 1981—1982 downturn, when production fell below inventories, and two of these times happened during the depth of the last recession,” LaVorgna noted. He said the dates were first quarter, 1991; first quarter, 2001 and fourth quarter 2008 to first quarter, 2009.

“Critically, these quarters marked the bottom in the manufacturing ISM survey,” he added.

LaVorgna said he believes his theory has already played out in the Philadelphia Fed manufacturing survey, which rebounded sharply in January to 17, from 2.4 in December. “The details were also solid, as new orders, shipments, and employment all moved higher,” he noted.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: patti domm
Keywords: news, cnbc, companies, production, lavorgna, times, manufacturing, level, heres, soon, inventories, fell, ism, sector, quarter, bounce, sluggish


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JP Morgan admits to `terrible customer experience’ in response to discrimination allegations

“It’s clear Mr. Kennedy had a terrible customer experience with us. In letters to congressmen and senators who requested information from the bank about allegations in the article, the bank acknowledged several shortcomings. The article detailed racial discrimination experienced by a black J.P. Morgan employee and customer at branches in the Phoenix, Arizona area. J.P. Morgan Chase admitted to failures brought to light in a New York Times article last month and said it had taken a series of step


“It’s clear Mr. Kennedy had a terrible customer experience with us.
In letters to congressmen and senators who requested information from the bank about allegations in the article, the bank acknowledged several shortcomings.
The article detailed racial discrimination experienced by a black J.P. Morgan employee and customer at branches in the Phoenix, Arizona area.
J.P. Morgan Chase admitted to failures brought to light in a New York Times article last month and said it had taken a series of step
JP Morgan admits to `terrible customer experience’ in response to discrimination allegations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: hugh son
Keywords: news, cnbc, companies, york, allegations, bank, admits, employees, letters, series, times, experience, discrimination, customer, article, executives, morgan, terrible, response


JP Morgan admits to `terrible customer experience' in response to discrimination allegations

People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City.

“The Times also reported about a client, Jimmy Kennedy, who experienced multiple delays in onboarding, from opening a new investment to transferring money in his account,” bank executives said in the letters obtained by CNBC. “It’s clear Mr. Kennedy had a terrible customer experience with us. Our review of the matter found there was a series of administrative delays in processing his investments that would have frustrated any client.”

In letters to congressmen and senators who requested information from the bank about allegations in the article, the bank acknowledged several shortcomings. The article detailed racial discrimination experienced by a black J.P. Morgan employee and customer at branches in the Phoenix, Arizona area.

J.P. Morgan Chase admitted to failures brought to light in a New York Times article last month and said it had taken a series of steps to learn from the episode.

In another instance, a discussion between a manager and a financial advisor about the suitability of a client in subsidized housing was “totally unacceptable,” the company said.

The article sent shock waves throughout J.P. Morgan, the biggest U.S. lender with 257,000 employees, igniting introspection at a time when economic inequality in the U.S. has dominated discourse.

J.P. Morgan CEO Jamie Dimon has told employees that he’s “disgusted by racism and hate in any form” and instructed staff to look deeper into the bank’s policies and culture.

In the 12-page letter to lawmakers, the bank also detailed its various diversity and job training programs and explained how it collects and investigates discrimination claims.

In a separate memo sent to employees Wednesday, the same day the letters to Congress were delivered, executives of the bank’s sprawling retail operations said they created a firm-wide team of top leaders to spur improvements on discrimination. They’ve also conducted focus groups about the experiences of workers and customers.

“Over the coming weeks and months, we will create more opportunities to have discussions with employees to gain a deeper understanding of how we might get better,” the executives wrote. “And as always, please rapidly escalate any and all issues that make you feel we are falling short.”


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: hugh son
Keywords: news, cnbc, companies, york, allegations, bank, admits, employees, letters, series, times, experience, discrimination, customer, article, executives, morgan, terrible, response


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The New York Times, which Trump often derides as ‘failing,’ says 2019 was a record year for digital growth

The New York Times, which President Donald Trump often describes as “failing,” said in an investor release on Tuesday that 2019 was a record year for digital growth. The New York Times said it added 1 million net digital subscriptions in 2019, which is its highest annual growth for that figure since the company launched its digital model in 2011. The circumstances facing The New York Times Company when CEO and President Mark Thompson took over in November 2012 were bleak. Since then, The New Yor


The New York Times, which President Donald Trump often describes as “failing,” said in an investor release on Tuesday that 2019 was a record year for digital growth.
The New York Times said it added 1 million net digital subscriptions in 2019, which is its highest annual growth for that figure since the company launched its digital model in 2011.
The circumstances facing The New York Times Company when CEO and President Mark Thompson took over in November 2012 were bleak.
Since then, The New Yor
The New York Times, which Trump often derides as ‘failing,’ says 2019 was a record year for digital growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: william feuer
Keywords: news, cnbc, companies, subscriptions, record, 2019, derides, model, company, digital, million, trump, growth, failing, journalism, times, york, thompson


The New York Times, which Trump often derides as 'failing,' says 2019 was a record year for digital growth

The New York Times, which President Donald Trump often describes as “failing,” said in an investor release on Tuesday that 2019 was a record year for digital growth.

The New York Times said it added 1 million net digital subscriptions in 2019, which is its highest annual growth for that figure since the company launched its digital model in 2011. It now has 5 million total subscriptions, according to the company. The company doubled its annual digital revenue to $800 million in four years, one year ahead of its original goal to do so.

“The total includes 3.4 million core news subscriptions, more than 300,000 to NYT Cooking and 600,000 to NYT Crossword, as well as nearly 900,000 print subscriptions,” the company explained.

The circumstances facing The New York Times Company when CEO and President Mark Thompson took over in November 2012 were bleak. Quarterly advertising revenue had fallen 9% and net income was down over 80% year over year.

Since then, The New York Times stock has more than tripled in value, according to data compiled by FactSet. Thompson told CNBC in June of last year that the company continues to grow thanks to an emphasis on quality journalism and a commitment to digital readers.

“Our model is a very simple model which is we should invest in great content,” Thompson told CNBC at the time. “The future of journalism is make more journalism … and then figure out smart ways to put that in front of people and asking them to support that journalism.”

It’s just one example of how companies can succeed in the digital media industry, which has seen turmoil in recent years. Newsrooms around the globe have been forced to cut staff or shut down entirely in an increasingly competitive market for readers and ad dollars.

The New York Times Company will release its full fourth-quarter and full-year 2019 earnings on Feb. 6.

— CNBC’s Joe Andrews contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: william feuer
Keywords: news, cnbc, companies, subscriptions, record, 2019, derides, model, company, digital, million, trump, growth, failing, journalism, times, york, thompson


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The Fed could cut interest rates 3 times this year, UBS predicts

Swiss wealth giant UBS has predicted that the U.S. Federal Reserve could lower interest rates three times in 2020 — a forecast that differs widely from many other projections calling for no change or just one rate cut this year. The CME FedWatch tool places the probability of the Fed standing pat on interest rates at more than 50% through September. “We think they’re going to get that downshift. So, we’re thinking first cut maybe in March but we really need to see … loss of growth momentum,” h


Swiss wealth giant UBS has predicted that the U.S. Federal Reserve could lower interest rates three times in 2020 — a forecast that differs widely from many other projections calling for no change or just one rate cut this year.
The CME FedWatch tool places the probability of the Fed standing pat on interest rates at more than 50% through September.
“We think they’re going to get that downshift.
So, we’re thinking first cut maybe in March but we really need to see … loss of growth momentum,” h
The Fed could cut interest rates 3 times this year, UBS predicts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: yen nee lee
Keywords: news, cnbc, companies, tool, growth, think, ubs, going, theyre, temporary, cut, tariffs, trade, fed, times, predicts, rates, interest


The Fed could cut interest rates 3 times this year, UBS predicts

Swiss wealth giant UBS has predicted that the U.S. Federal Reserve could lower interest rates three times in 2020 — a forecast that differs widely from many other projections calling for no change or just one rate cut this year.

Arend Kapteyn, global head of economic research at UBS, said on Tuesday that tariffs implemented in the trade war between Washington and Beijing would drag down U.S. growth to just 0.5% year-on-year in the first half of 2020.

The U.S. last raised tariffs on Chinese goods in September, with China following up with its own duty increase on a variety of American products. Further tariff hikes initially scheduled for December were put off as both sides agreed to hammer out the so-called phase one trade deal.

“We think this tariff damage is going to push U.S. growth down … that’s actually going to trigger three Fed cuts, which is way off consensus, nobody believes that,” he told CNBC’s “Street Signs Asia” from the UBS Greater China Conference in Shanghai.

The CME FedWatch tool places the probability of the Fed standing pat on interest rates at more than 50% through September. For the central bank’s meetings in November and December, that probability falls to 47% and and 40.5%. The tool is based on futures pricing from live markets and reflects the views of traders placing real bets on the CME exchange.

Kapteyn noted that Fed officials themselves have shown little inclination to make any moves, with meeting minutes indicating that they’re at “a comfortable hold” and would want to see “a material downshift in the data” before reassessing their position.

“We think they’re going to get that downshift. I think you need quite a bit of additional evidence though before they get there. So, we’re thinking first cut maybe in March but we really need to see … loss of growth momentum,” he said.

Still, Kapteyn stressed that the impact from tariffs could just be temporary and that the U.S. is not headed into a recession.

“Even though we have this big slowdown and these cuts, we don’t think you get to recession level,” he said. “So basically temporary disruption, you get past them pretty quickly and then everything is back to trend.”

— CNBC’s Yun Li contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: yen nee lee
Keywords: news, cnbc, companies, tool, growth, think, ubs, going, theyre, temporary, cut, tariffs, trade, fed, times, predicts, rates, interest


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America is $23 trillion in debt. What that means for your budget

Worried about your debt? Consider this: The U.S. is $23 trillion in the red. Today, the country owes over four times more than it did in 2000, when the national debt stood at around $5 trillion. “Like any budget that you have in your household, we have too little income and too many expenses,” said Ted Jenkin, certified financial planner and CEO and founder of oXYGen Financial in Atlanta. Our biggest expenses as a country include Social Security, Medicare, defense — and the interest on all that


Worried about your debt?
Consider this: The U.S. is $23 trillion in the red.
Today, the country owes over four times more than it did in 2000, when the national debt stood at around $5 trillion.
“Like any budget that you have in your household, we have too little income and too many expenses,” said Ted Jenkin, certified financial planner and CEO and founder of oXYGen Financial in Atlanta.
Our biggest expenses as a country include Social Security, Medicare, defense — and the interest on all that
America is $23 trillion in debt. What that means for your budget Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: annie nova
Keywords: news, cnbc, companies, times, budget, stood, expenses, means, financial, worried, debt, ted, country, spending, trillion, america


America is $23 trillion in debt. What that means for your budget

Worried about your debt?

Consider this: The U.S. is $23 trillion in the red.

Today, the country owes over four times more than it did in 2000, when the national debt stood at around $5 trillion. How did we get here?

“Like any budget that you have in your household, we have too little income and too many expenses,” said Ted Jenkin, certified financial planner and CEO and founder of oXYGen Financial in Atlanta.

Our biggest expenses as a country include Social Security, Medicare, defense — and the interest on all that debt.

The rising debt poses risks. For example, it could leave the federal government with less spending power in a downturn.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: annie nova
Keywords: news, cnbc, companies, times, budget, stood, expenses, means, financial, worried, debt, ted, country, spending, trillion, america


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