Michael Cohen reportedly spoke to prosecutors about Trump Organization insurance claims

President Trumps former lawyer, Michael D. Cohen, spoke with federal prosecutors in January about potential irregularities within the Trump family business, people familiar with the matter told the New York Times on Friday. When meeting with the prosecutors, Mr. Cohen, who is scheduled to start serving a three-year prison sentence in May, also discussed past insurance claims filed by the company. Cohen pleaded guilty to breaking campaign finance laws in August and organizing hush money payments


President Trumps former lawyer, Michael D. Cohen, spoke with federal prosecutors in January about potential irregularities within the Trump family business, people familiar with the matter told the New York Times on Friday. When meeting with the prosecutors, Mr. Cohen, who is scheduled to start serving a three-year prison sentence in May, also discussed past insurance claims filed by the company. Cohen pleaded guilty to breaking campaign finance laws in August and organizing hush money payments
Michael Cohen reportedly spoke to prosecutors about Trump Organization insurance claims Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: maggie fitzgerald, jonathan ernst
Keywords: news, cnbc, companies, spoke, organization, york, report, reportedly, claims, michael, times, president, trump, insurance, cohen, information, told, prosecutors, zuberi


Michael Cohen reportedly spoke to prosecutors about Trump Organization insurance claims

President Trumps former lawyer, Michael D. Cohen, spoke with federal prosecutors in January about potential irregularities within the Trump family business, people familiar with the matter told the New York Times on Friday.

When meeting with the prosecutors, Mr. Cohen, who is scheduled to start serving a three-year prison sentence in May, also discussed past insurance claims filed by the company.

It is unconfirmed whether the prosecutors found Cohen’s information credible or whether they plan to dig deeper into the potential irregularities, according to the Times. However, the meeting suggests that they are interested in pursing information about the Trump Organization that have not been delved into before, the report said.

Cohen pleaded guilty to breaking campaign finance laws in August and organizing hush money payments to women claiming to have had relations with President Trump before the 2016 election.

The Trump Organization did not comment on the accusations.

Cohen also discussed information about presidential inaugural committee donor Imaad Zuberi, a political fund-raising venture capitalist from California. Zuberi donated $900,000 to the committee, attempted to hire Cohen as a consultant and wrote him a substantial check, a person familiar with the matter told The New York Times.

Zuberi’s spokesperson told the Times that the check was for $100,000 and never cashed.

Read the full report in the New York Times.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: maggie fitzgerald, jonathan ernst
Keywords: news, cnbc, companies, spoke, organization, york, report, reportedly, claims, michael, times, president, trump, insurance, cohen, information, told, prosecutors, zuberi


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Morgan Stanley: China’s debt is set to worsen, but there’s less risk from shadow banking

China’s debt problem is set to worsen this year, according U.S. investment bank Morgan Stanley — but Beijing is expected to better manage the risks of people borrowing from non-official channels this time, compared to years ago. Shadow banking refers to activities performed by financial firms outside the formal banking sector, and therefore subject to lower levels of regulatory oversight and higher risks. State-owned banks usually prefer lending to companies owned by the government, which are co


China’s debt problem is set to worsen this year, according U.S. investment bank Morgan Stanley — but Beijing is expected to better manage the risks of people borrowing from non-official channels this time, compared to years ago. Shadow banking refers to activities performed by financial firms outside the formal banking sector, and therefore subject to lower levels of regulatory oversight and higher risks. State-owned banks usually prefer lending to companies owned by the government, which are co
Morgan Stanley: China’s debt is set to worsen, but there’s less risk from shadow banking Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: weizhen tan, -robin xing, chief china economist at morgan stanley
Keywords: news, cnbc, companies, stanley, firms, chinas, private, transparent, manageable, shadow, banking, told, worsen, theres, debt, xing, risk, morgan, set


Morgan Stanley: China's debt is set to worsen, but there's less risk from shadow banking

China’s debt problem is set to worsen this year, according U.S. investment bank Morgan Stanley — but Beijing is expected to better manage the risks of people borrowing from non-official channels this time, compared to years ago.

China’s debt in relation to its economy is expected to climb by three to four percentage points of its economy, Morgan Stanley’s Chief China Economist Robin Xing told CNBC on Friday, referring to the debt-to-GDP ratio.

“This time, it’s a bit different because they are using more manageable, or transparent leverage rather than re-opening shadow banking,” Xing told CNBC, saying that the Chinese government is increasing the quota of local special bonds, which are essentially backed by the state.

Shadow banking refers to activities performed by financial firms outside the formal banking sector, and therefore subject to lower levels of regulatory oversight and higher risks.

State-owned banks usually prefer lending to companies owned by the government, which are considered safer borrowers than private firms. As a result, private companies have turned to shadow banking, contributing to China’s overall debt levels.

“Despite the temporary increase in the debt-to-GDP ratio, it’s much more manageable and transparent than 2013 to 2017, when shadow banking was surging,” Xing concluded.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: weizhen tan, -robin xing, chief china economist at morgan stanley
Keywords: news, cnbc, companies, stanley, firms, chinas, private, transparent, manageable, shadow, banking, told, worsen, theres, debt, xing, risk, morgan, set


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Amazon’s China unit is reportedly considering a merger. That’s ‘too little too late,’ expert says

That news raised questions about Amazon’s plans for the country, where it has historically struggled to gain market share. Responding to an inquiry about the Caijing report, Amazon told Reuters it did not comment on market speculation. Still, there is some rationale to a tie up between Amazon and Kaola, Chukumba said. In fact, according to Chukumba, the best case scenario for Amazon’s China business, would be for single-digit-percentage gains in market share. “I don’t really think that the compa


That news raised questions about Amazon’s plans for the country, where it has historically struggled to gain market share. Responding to an inquiry about the Caijing report, Amazon told Reuters it did not comment on market speculation. Still, there is some rationale to a tie up between Amazon and Kaola, Chukumba said. In fact, according to Chukumba, the best case scenario for Amazon’s China business, would be for single-digit-percentage gains in market share. “I don’t really think that the compa
Amazon’s China unit is reportedly considering a merger. That’s ‘too little too late,’ expert says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: lena loke, getty images
Keywords: news, cnbc, companies, china, amazons, local, merger, market, really, think, little, thats, late, expert, kaola, reportedly, unit, chukumba, amazon, considering, told


Amazon's China unit is reportedly considering a merger. That's 'too little too late,' expert says

Amazon is reportedly in talks to merge its China unit with a local e-commerce firm, but one expert said any deal is likely to be “too little too late” for the American e-commerce giant’s ambitions in Asia’s largest economy.

Business magazine Caijing reported on Tuesday that Amazon’s Chinese joint venture is talking with Kaola, a local player owned by Nasdaq-listed NetEase, about a potential merger. That news raised questions about Amazon’s plans for the country, where it has historically struggled to gain market share.

Responding to an inquiry about the Caijing report, Amazon told Reuters it did not comment on market speculation. NetEase declined to comment to the news wire.

Anthony Chukumba, managing director of Chicago-based firm Loop Capital, said he’s not very optimistic about any potential union.

“To some extent, it is too little too late,” he told CNBC’s “Squawk Box” on Thursday. “Amazon has been in China for 15 years, it’s not like they just got there last year. So if it hasn’t worked in 15 years, I am not really sure that merging with Kaola is going to make all that much of a difference.”

Chukumba said Amazon only has about 1 percent market share in China and is thought of as “a has-been” and “kind of a never-was” — which stands in stark contrast to its estimated 40 percent of the online market in the U.S. Local Chinese competitors meanwhile, including Alibaba and JD.com, dominate the market in the country.

Still, there is some rationale to a tie up between Amazon and Kaola, Chukumba said.

“Certainly this acquisition will help from a scale perspective, it also should provide them some local expertise and local relationships, particularly with the Chinese government, which i think would be a good thing,” he said, emphasizing that it still wouldn’t “level the playing field” against the likes of Alibaba.

In fact, according to Chukumba, the best case scenario for Amazon’s China business, would be for single-digit-percentage gains in market share.

That’s in part due to the relatively small size of Kaola in China, but it’s not like Amazon could have been aiming for bigger merger partners, the Chicago-based expert said.

“I just don’t think the big boys would have them, I’m not really sure what it does for the big boys at this point,” Chukumba said.

That said, pursuing a Kaola deal has little risk for Amazon’s overall business.

“I don’t really think that the company and, quite frankly, investors are ascribing much of the value of Amazon to what they’re doing in China,” Chukumba told CNBC. “So, to some extent, they just have nothing to lose.”

But if Amazon has few viable prospects in China, the question arises of why devote resources to the country at all. For Chukumba, it comes down to the philosophy of the company’s founder and CEO.

“I think that, if you are Jeff Bezos, your goal is world domination,” he said. “The larger your total addressable market at the end of the day, the larger your potential valuation, so I don’t think that Amazon can just say, you know, ‘We are just going to be a North American-centric business.'”

—Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: lena loke, getty images
Keywords: news, cnbc, companies, china, amazons, local, merger, market, really, think, little, thats, late, expert, kaola, reportedly, unit, chukumba, amazon, considering, told


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Amazon’s China unit is reportedly considering a merger. That’s ‘too little too late,’ expert says

That news raised questions about Amazon’s plans for the country, where it has historically struggled to gain market share. Responding to an inquiry about the Caijing report, Amazon told Reuters it did not comment on market speculation. Still, there is some rationale to a tie up between Amazon and Kaola, Chukumba said. In fact, according to Chukumba, the best case scenario for Amazon’s China business, would be for single-digit-percentage gains in market share. “I don’t really think that the compa


That news raised questions about Amazon’s plans for the country, where it has historically struggled to gain market share. Responding to an inquiry about the Caijing report, Amazon told Reuters it did not comment on market speculation. Still, there is some rationale to a tie up between Amazon and Kaola, Chukumba said. In fact, according to Chukumba, the best case scenario for Amazon’s China business, would be for single-digit-percentage gains in market share. “I don’t really think that the compa
Amazon’s China unit is reportedly considering a merger. That’s ‘too little too late,’ expert says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: lena loke, getty images
Keywords: news, cnbc, companies, china, amazons, local, merger, market, really, think, little, thats, late, expert, kaola, reportedly, unit, chukumba, amazon, considering, told


Amazon's China unit is reportedly considering a merger. That's 'too little too late,' expert says

Amazon is reportedly in talks to merge its China unit with a local e-commerce firm, but one expert said any deal is likely to be “too little too late” for the American e-commerce giant’s ambitions in Asia’s largest economy.

Business magazine Caijing reported on Tuesday that Amazon’s Chinese joint venture is talking with Kaola, a local player owned by Nasdaq-listed NetEase, about a potential merger. That news raised questions about Amazon’s plans for the country, where it has historically struggled to gain market share.

Responding to an inquiry about the Caijing report, Amazon told Reuters it did not comment on market speculation. NetEase declined to comment to the news wire.

Anthony Chukumba, managing director of Chicago-based firm Loop Capital, said he’s not very optimistic about any potential union.

“To some extent, it is too little too late,” he told CNBC’s “Squawk Box” on Thursday. “Amazon has been in China for 15 years, it’s not like they just got there last year. So if it hasn’t worked in 15 years, I am not really sure that merging with Kaola is going to make all that much of a difference.”

Chukumba said Amazon only has about 1 percent market share in China and is thought of as “a has-been” and “kind of a never-was” — which stands in stark contrast to its estimated 40 percent of the online market in the U.S. Local Chinese competitors meanwhile, including Alibaba and JD.com, dominate the market in the country.

Still, there is some rationale to a tie up between Amazon and Kaola, Chukumba said.

“Certainly this acquisition will help from a scale perspective, it also should provide them some local expertise and local relationships, particularly with the Chinese government, which i think would be a good thing,” he said, emphasizing that it still wouldn’t “level the playing field” against the likes of Alibaba.

In fact, according to Chukumba, the best case scenario for Amazon’s China business, would be for single-digit-percentage gains in market share.

That’s in part due to the relatively small size of Kaola in China, but it’s not like Amazon could have been aiming for bigger merger partners, the Chicago-based expert said.

“I just don’t think the big boys would have them, I’m not really sure what it does for the big boys at this point,” Chukumba said.

That said, pursuing a Kaola deal has little risk for Amazon’s overall business.

“I don’t really think that the company and, quite frankly, investors are ascribing much of the value of Amazon to what they’re doing in China,” Chukumba told CNBC. “So, to some extent, they just have nothing to lose.”

But if Amazon has few viable prospects in China, the question arises of why devote resources to the country at all. For Chukumba, it comes down to the philosophy of the company’s founder and CEO.

“I think that, if you are Jeff Bezos, your goal is world domination,” he said. “The larger your total addressable market at the end of the day, the larger your potential valuation, so I don’t think that Amazon can just say, you know, ‘We are just going to be a North American-centric business.'”

—Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: lena loke, getty images
Keywords: news, cnbc, companies, china, amazons, local, merger, market, really, think, little, thats, late, expert, kaola, reportedly, unit, chukumba, amazon, considering, told


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‘Empire’ producers remove Jussie Smollett from final two episodes of season following charges

Producers of the 20th Century Fox Television show “Empire” decided Friday to remove actor Jussie Smollett from the final two episodes of the latest season following the actor’s arrest. “The events of the past few weeks have been incredibly emotional for all of us,” the executive producers of “Empire” said in a joint statement Friday. “Jussie has been an important member of our ‘Empire’ family for the past five years and we care about him deeply. Smollett told police in January that he was attack


Producers of the 20th Century Fox Television show “Empire” decided Friday to remove actor Jussie Smollett from the final two episodes of the latest season following the actor’s arrest. “The events of the past few weeks have been incredibly emotional for all of us,” the executive producers of “Empire” said in a joint statement Friday. “Jussie has been an important member of our ‘Empire’ family for the past five years and we care about him deeply. Smollett told police in January that he was attack
‘Empire’ producers remove Jussie Smollett from final two episodes of season following charges Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: sarah whitten, tasos katopodis, getty images
Keywords: news, cnbc, companies, final, following, producers, remove, smollett, actor, jussie, episode, episodes, racist, charges, season, told, empire, osundairo


'Empire' producers remove Jussie Smollett from final two episodes of season following charges

Producers of the 20th Century Fox Television show “Empire” decided Friday to remove actor Jussie Smollett from the final two episodes of the latest season following the actor’s arrest.

“The events of the past few weeks have been incredibly emotional for all of us,” the executive producers of “Empire” said in a joint statement Friday.

“Jussie has been an important member of our ‘Empire’ family for the past five years and we care about him deeply. While these allegations are very disturbing, we are placing our trust in the legal system as the process plays out,” they said. “We are also aware of the effects of this process on the cast and crew members who work on our show and to avoid further disruption on set, we have decided to remove the role of ‘Jamal’ from the final two episodes of the season.”

The actor was charged Thursday on the suspicion of filing a false police report claiming to have been the victim of a hate crime.

Smollett told police in January that he was attacked by two masked men as he was walking home around 2 a.m. The actor, who is black and gay, said he was beaten, had racist and homophobic comments shouted at him, had a chemical substance poured on him and a rope was looped around his neck before the attackers fled.

Brothers Ola and Abel Osundairo were arrested last week for allegedly being connected to the attack. They were later released without charges. Ola Osundairo appeared in season two of “Empire.” The Osundairo brothers told police that Smollett wrote them a check for $3,500 to carry out the attack.

The police superintendent told reporters the brothers wore gloves during the incident and “punched him a little bit.” He said he believes the scratches and bruises on Smollett’s face were “most likely self-inflicted.”

Chicago police said Smollett had sent a threatening racist and homophobic letter to himself at the Fox studio lot before the purported attack, noting that the actor had been dissatisfied with his salary.

Smollett was paid $65,000 per episode for co-starring in the series, according to HuffPost.

On Thursday, Warner Bros.-owned TNT pulled an episode of “Drop the Mic” that featured Smollet, according to Jensen Karp, the executive producer and head writer of the show. Karp tweeted that the episode would no longer be airing. It had been scheduled to air March 6.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: sarah whitten, tasos katopodis, getty images
Keywords: news, cnbc, companies, final, following, producers, remove, smollett, actor, jussie, episode, episodes, racist, charges, season, told, empire, osundairo


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Here’s why your tax refund could be smaller than last year

If you were unhappy with your tax refund this year, take a moment and review your return. The filing season only kicked off on Jan. 28, but some early filers are finding that they’re either owing the IRS or they’ll be receiving a smaller refund. Rep. Kevin Brady (R-Texas), who sponsored the tax overhaul as it made its way through Congress, told CNBC on Thursday that filers’ refunds are smaller for 2018 because they got their money in their paychecks. He said filers can retool their tax withholdi


If you were unhappy with your tax refund this year, take a moment and review your return. The filing season only kicked off on Jan. 28, but some early filers are finding that they’re either owing the IRS or they’ll be receiving a smaller refund. Rep. Kevin Brady (R-Texas), who sponsored the tax overhaul as it made its way through Congress, told CNBC on Thursday that filers’ refunds are smaller for 2018 because they got their money in their paychecks. He said filers can retool their tax withholdi
Here’s why your tax refund could be smaller than last year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: darla mercado, mapodile, getty images, djelics, ariel skelley, digitalvision, -chris benson, cpa, principal at lk benson
Keywords: news, cnbc, companies, refund, heres, yearthe, withholding, work, smaller, brady, told, filers, tax


Here's why your tax refund could be smaller than last year

If you were unhappy with your tax refund this year, take a moment and review your return. It could save you a headache in 2020.

For the first time, taxpayers are submitting their returns under the Tax Cuts and Jobs Act, which went into effect last year.

The filing season only kicked off on Jan. 28, but some early filers are finding that they’re either owing the IRS or they’ll be receiving a smaller refund.

Rep. Kevin Brady (R-Texas), who sponsored the tax overhaul as it made its way through Congress, told CNBC on Thursday that filers’ refunds are smaller for 2018 because they got their money in their paychecks.

He said filers can retool their tax withholding at work using Form W-4.

“People can go at work, fine-tune how much they want in their weekly or monthly paycheck and what they want in their refund,” Brady told CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: darla mercado, mapodile, getty images, djelics, ariel skelley, digitalvision, -chris benson, cpa, principal at lk benson
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Jussie Smollett charged with felony for alleged false report of hate-crime attack

“Empire” actor Jussie Smollett was charged Wednesday with a felony for allegedly filing a false police report claiming he was the victim of a hate-crime attack in Chicago, according to the Cook County State’s Attorney office. Guglielmi told NBC News that the investigation into the alleged attack has demanded “considerable” police resources. Investigators had discovered that the brothers had purchased the rope used in the alleged attack. Smollett has told police he was on the phone with his manag


“Empire” actor Jussie Smollett was charged Wednesday with a felony for allegedly filing a false police report claiming he was the victim of a hate-crime attack in Chicago, according to the Cook County State’s Attorney office. Guglielmi told NBC News that the investigation into the alleged attack has demanded “considerable” police resources. Investigators had discovered that the brothers had purchased the rope used in the alleged attack. Smollett has told police he was on the phone with his manag
Jussie Smollett charged with felony for alleged false report of hate-crime attack Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: elisha fieldstadt, andrew blankstein, tasos katopodis, getty images
Keywords: news, cnbc, companies, actor, hatecrime, attack, smollett, brothers, felony, charged, surveillance, alleged, department, chicago, jussie, incident, report, false, told


Jussie Smollett charged with felony for alleged false report of hate-crime attack

“Empire” actor Jussie Smollett was charged Wednesday with a felony for allegedly filing a false police report claiming he was the victim of a hate-crime attack in Chicago, according to the Cook County State’s Attorney office.

Smollett is charged with felony disorderly conduct for allegedly filing a false report with the Chicago Police Department on Jan. 29 in which he claimed he was assaulted by two masked men who hurled racist and homophobic slurs.

The actor, 36, who is black and gay, also said his attackers poured what he believed was bleach over him and put a noose around his neck.

Smollett is expected in court for a bond hearing at 1:30 p.m. Thursday.

Chicago Police Department spokesman Anthony Guglielmi told NBC News earlier Wednesday that Smollett’s attorneys had talked with prosecutors in the morning.

Police investigated the reported attack as a “possible hate crime,” and some celebrities, including “Empire” cast members, and gay-rights advocates flocked to social media to express their support for Smollett.

But some other social media users began to question his claims when police said they were not able to find video of the incident after going through a plethora of footage from many surveillance cameras in the affluent Streeterville neighborhood of Chicago, where the attack allegedly occurred.

Guglielmi told NBC News that the investigation into the alleged attack has demanded “considerable” police resources. He said that at one point the department had 12 detectives scouring surveillance videos.

More from NBC News:

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Fake milk is real news, as synthetic alternatives threaten traditional dairy farms

On Jan. 30, police released pictures from a surveillance camera located near where Smollett said he was attacked that showed two men who police said were “potential persons of interest.”

The two men were taken into custody on Feb. 13 and questioned. They were released two days later, on Friday, without charges. Police said the two, who are brothers, were no longer suspects in the case and were cooperating in the probe.

On Saturday, a police source said the probe had shifted into whether the actor had paid the two brothers, Ola and Abel Osundairo, to stage an assault. Investigators had discovered that the brothers had purchased the rope used in the alleged attack.

Guglielmi said then that investigators wanted to have another interview with Smollett.

Smollett didn’t talk to police on Monday or Tuesday. However, Ola and Abel Osundairo met with police and prosecutors at a criminal court building on Tuesday, according to police spokesman Tom Ahern.

That same afternoon, police investigated, and then discounted, a tip they received that Smollett was seen with the Osundairo brothers on the night of the attack.

Also on Tuesday, the chief prosecutor in the Chicago area, Cook County State’s Attorney Kimberly Foxx, recused herself from the case “based upon familiarity with potential witnesses,” a spokesperson for Foxx’s office said in an email.

“Shortly after the incident occurred in late January, State’s Attorney Foxx had conversations with a family member of Jussie Smollett about the incident and their concerns, and facilitated a connection to the Chicago Police Department who were investigating the incident,” spokesman Robert Foley said Wednesday.

Foxx’s first assistant prosecutor, Joe Magats, will handle the case.

Smollett has told police he was on the phone with his manager during the alleged attack, and the manager said he heard the attackers say, “This is MAGA country.” The actor refused to hand over his cellphone to police, but later gave investigators a PDF file containing a limited list of his calls.

Police said the manager, Brandon Moore, is not a suspect but is rather a “cooperating witness.

Choreographer Frank Gatson, who made the 911 call about the alleged incident to police, is also considered a “cooperating witness,” police said.

On Wednesday, Fox refuted a TMZ story claiming Smollett’s scenes on the show were “getting slashed” from nine to four.

“Jussie Smollett continues to be a consummate professional on set and as we have previously stated, he is not being written out of the show,” 20th Century Fox Television and Fox Entertainment said in a statement.

Fox had no comment after police announced Smollett was a suspect Wednesday.

In his first interview about the incident last week, the actor told ABC’s “Good Morning America” that he was angry about the alleged attack and that people were doubting him.

“It feels like if I had said it was a Muslim or a Mexican or someone black, I feel like the doubters would have supported me a lot much more, and that says a lot about the place we are in our country right now,” Smollett said.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: elisha fieldstadt, andrew blankstein, tasos katopodis, getty images
Keywords: news, cnbc, companies, actor, hatecrime, attack, smollett, brothers, felony, charged, surveillance, alleged, department, chicago, jussie, incident, report, false, told


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Bangladesh building fire kills at least 70, death toll could climb

The death toll from a fire in a centuries-old area of the Bangladesh capital, Dhaka, jumped dramatically to 70 on Thursday, a fire official said, and could keep climbing as fire fighters combed the wreckage of the destroyed building. Large building fires are relatively common in impoverished Bangladesh, due in part to lax regulations, and have killed hundreds of people in recent years. Hundreds of people rushed to the Dhaka Medical College and Hospital to search for missing relatives, witnesses


The death toll from a fire in a centuries-old area of the Bangladesh capital, Dhaka, jumped dramatically to 70 on Thursday, a fire official said, and could keep climbing as fire fighters combed the wreckage of the destroyed building. Large building fires are relatively common in impoverished Bangladesh, due in part to lax regulations, and have killed hundreds of people in recent years. Hundreds of people rushed to the Dhaka Medical College and Hospital to search for missing relatives, witnesses
Bangladesh building fire kills at least 70, death toll could climb Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: mohammad al-masum molla, picture alliance, getty images
Keywords: news, cnbc, companies, 70, toll, kills, death, killed, regulations, search, nearby, building, hundreds, lax, dhaka, bangladesh, climb, told


Bangladesh building fire kills at least 70, death toll could climb

The death toll from a fire in a centuries-old area of the Bangladesh capital, Dhaka, jumped dramatically to 70 on Thursday, a fire official said, and could keep climbing as fire fighters combed the wreckage of the destroyed building.

Large building fires are relatively common in impoverished Bangladesh, due in part to lax regulations, and have killed hundreds of people in recent years.

“So far, 70 bodies have been recovered. The number could rise further as the search is continuing,” Julfikar Rahman, a director of the Fire Service and Civil Defence, told Reuters.

The fire started in a four-story building on Wednesday night and spread to nearby buildings in the Chawkbazar area of Old Dhaka, which dates back to the Mughal period more than 300 years ago.

Rahman said at least 50 people had been taken to hospital, some in critical condition. Hundreds of people rushed to the Dhaka Medical College and Hospital to search for missing relatives, witnesses said.

About 200 firefighters fought for more than five hours to bring the blaze under control. They told reporters the building where the fire began had housed a plastics warehouse and contained flammable material.

Rahman said the cause was still under investigation. He said firefighters had struggled to find enough water to fight the blaze and had to draw supplies from a nearby mosque.

The fire is likely to focus attention on lax enforcement of building safety regulations in Bangladesh, where accidents kill hundreds every year.

The Rana Plaza factory collapse in 2013 killed more than 1,100 workers and a fire in a garment factory in 2012 killed 112 people.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: mohammad al-masum molla, picture alliance, getty images
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Spain’s socialists were ‘irresponsible’ to talk to Catalan separatists, opposition leader says

Spain’s incumbent socialist government was “irresponsible” to negotiate with Catalonia’s pro-independence parties, the president and leader of Spain’s opposition People’s Party (Partido Popular) told CNBC. “This (socialist) government has tried to negotiate with those that want to divide our own nation,” Pablo Casado told CNBC’s Willem Marx in Madrid Thursday. Casado said that Prime Minister Pedro Sanchez had been “irresponsible” to accept the support from secessionist parties that wanted to “br


Spain’s incumbent socialist government was “irresponsible” to negotiate with Catalonia’s pro-independence parties, the president and leader of Spain’s opposition People’s Party (Partido Popular) told CNBC. “This (socialist) government has tried to negotiate with those that want to divide our own nation,” Pablo Casado told CNBC’s Willem Marx in Madrid Thursday. Casado said that Prime Minister Pedro Sanchez had been “irresponsible” to accept the support from secessionist parties that wanted to “br
Spain’s socialists were ‘irresponsible’ to talk to Catalan separatists, opposition leader says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: holly ellyatt, angel navarrete bloomberg via getty images
Keywords: news, cnbc, companies, parties, talk, socialist, spains, told, negotiate, party, separatists, socialists, catalan, opposition, irresponsible, spain, election, leader, win


Spain's socialists were 'irresponsible' to talk to Catalan separatists, opposition leader says

Spain’s incumbent socialist government was “irresponsible” to negotiate with Catalonia’s pro-independence parties, the president and leader of Spain’s opposition People’s Party (Partido Popular) told CNBC.

“This (socialist) government has tried to negotiate with those that want to divide our own nation,” Pablo Casado told CNBC’s Willem Marx in Madrid Thursday.

Casado said that Prime Minister Pedro Sanchez had been “irresponsible” to accept the support from secessionist parties that wanted to “break the unity of Spain” and that a PP-led government, should the party win a forthcoming general election, would not allow Spain to be divided.

“What we want to do if we win the election in April is to make clear that in Spain, as in all the modern democratic countries in the world, we are going to make sure everyone accomplishes with (the use of) law,” he said.

Casado’s criticism of the government comes as Spain’s main political parties have swung into campaign mode ahead of a snap election in late April. The vote comes after lawmakers in Europe’s fourth largest economy failed to agree on a draft budget plan last week.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: holly ellyatt, angel navarrete bloomberg via getty images
Keywords: news, cnbc, companies, parties, talk, socialist, spains, told, negotiate, party, separatists, socialists, catalan, opposition, irresponsible, spain, election, leader, win


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Under Armour CEO Kevin Plank reportedly had ‘problematic’ ties to MSNBC anchor Stephanie Ruhle

Under Armour CEO Kevin Plank had a close relationship with MSNBC anchor Stephanie Ruhle that some deemed to be “problematic,” the Wall Street Journal reported on Thursday. The report said Plank brought Ruhle on his personal private jet and took her business advice, citing people familiar with the matter. A person familiar with the situation told CNBC that the relationship between Ruhle and Plank had no impact on Under Armour business. The Wall Street Journal report cited Under Armour’s senior vi


Under Armour CEO Kevin Plank had a close relationship with MSNBC anchor Stephanie Ruhle that some deemed to be “problematic,” the Wall Street Journal reported on Thursday. The report said Plank brought Ruhle on his personal private jet and took her business advice, citing people familiar with the matter. A person familiar with the situation told CNBC that the relationship between Ruhle and Plank had no impact on Under Armour business. The Wall Street Journal report cited Under Armour’s senior vi
Under Armour CEO Kevin Plank reportedly had ‘problematic’ ties to MSNBC anchor Stephanie Ruhle Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: lauren hirsch, jessica golden, getty images
Keywords: news, cnbc, companies, ceo, msnbc, armour, told, ruhle, stephanie, kevin, company, relationship, wall, problematic, street, plank, person, reportedly, ties


Under Armour CEO Kevin Plank reportedly had 'problematic' ties to MSNBC anchor Stephanie Ruhle

Under Armour CEO Kevin Plank had a close relationship with MSNBC anchor Stephanie Ruhle that some deemed to be “problematic,” the Wall Street Journal reported on Thursday.

The report said Plank brought Ruhle on his personal private jet and took her business advice, citing people familiar with the matter. In some cases advice on topics like how to manage his relationship with President Donald Trump, superseded that of some executives, it said, citing sources.

Employees viewed her input as unusual, because “many people believed she was romantically involved with Mr. Plank,” the paper reported.

A person familiar with the situation told CNBC that the relationship between Ruhle and Plank had no impact on Under Armour business. The person requested anonymity due to the sensitivities surrounding the matter.

The Wall Street Journal report cited Under Armour’s senior vice president of communications, Kelley McCormick, as saying “Mr. Plank and Ms. Ruhle are friends.” She also added, “The idea that Mr. Plank uniquely listens to any one individual is absurd.”

The company’s board became aware of Plank’s relationship with Ruhle after it discovered emails that “showed an intimate relationship between them,” the paper said, citing sources. The board asked Plank about his relationship with Ruhle and were told it “was a private matter and that no company funds were spent.”

The person familiar reiterated to CNBC that no Under Armour money was spent pertaining to Plank’s relationship with Ruhle.

The news comes at an inopportune time for the sportswear company, which has been looking to turnaround its company culture. Plank has said he wants to build a “diverse” and “inclusive” company, following reports the company had been letting its employees charge visits to strip clubs on their corporate cards.

“All these things that are coming out, it’s difficult,” Plank told CNBC’s Sara Eisen in a December 2018 interview. “You know, we are in our 14th year as a public company. That much time in the arena means that at some point you are going to have to retool the machine.”

MSNBC declined to comment. An Under Armour spokeswoman referred CNBC to her statements to the Wall Street Journal.

Shares of Under Armour dipped by almost 2 percent Thursday after the news broke, but soon pared most of that loss and was last down about 0.7 percent.

Disclosure: MSNBC and CNBC are divisions of NBCUniversal.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: lauren hirsch, jessica golden, getty images
Keywords: news, cnbc, companies, ceo, msnbc, armour, told, ruhle, stephanie, kevin, company, relationship, wall, problematic, street, plank, person, reportedly, ties


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