To bring Hong Kong back to normal, violence must stop, politician says ahead of weekend protests

Hong Kong politician and businessman Bernard Chan said that the violence in Hong Kong “has to stop,” as the city prepares itself for another weekend of mass protests. And it is up to everyone to return the city to normalcy, Chan told CNBC on Friday. “Land supply is a major problem in Hong Kong, and that’s why there is a shortage in housings, so we have to use every meanings, including land resumption,” he told “Street Signs.” She emphasized that housing issues are essential to social stability a


Hong Kong politician and businessman Bernard Chan said that the violence in Hong Kong “has to stop,” as the city prepares itself for another weekend of mass protests.
And it is up to everyone to return the city to normalcy, Chan told CNBC on Friday.
“Land supply is a major problem in Hong Kong, and that’s why there is a shortage in housings, so we have to use every meanings, including land resumption,” he told “Street Signs.”
She emphasized that housing issues are essential to social stability a
To bring Hong Kong back to normal, violence must stop, politician says ahead of weekend protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: grace shao
Keywords: news, cnbc, companies, housing, ahead, leader, protests, city, hong, bring, issues, normal, chan, citys, politician, stop, kong, violence, social, told, weekend


To bring Hong Kong back to normal, violence must stop, politician says ahead of weekend protests

Hong Kong politician and businessman Bernard Chan said that the violence in Hong Kong “has to stop,” as the city prepares itself for another weekend of mass protests. And it is up to everyone to return the city to normalcy, Chan told CNBC on Friday.

“People are recognizing that this cant go on, a dialogue need to start somewhere … you don’t expect us to please either sides overnight … this have to take some time,” said Chan, convenor of the Executive Council, Hong Kong’s cabinet or panel of advisors to the city’s leader, the chief executive.

“Land supply is a major problem in Hong Kong, and that’s why there is a shortage in housings, so we have to use every meanings, including land resumption,” he told “Street Signs.”

The city’s embattled leader Carrie Lam introduced a series of housing measures aimed at addressing some of those concerns in an annual policy speech on Wednesday, as the city enters its fifth month of demonstrations.

She called housing the “toughest livelihood issue” facing the city’s citizens. She emphasized that housing issues are essential to social stability and “upward mobility,” defined as climbing up to the next social level.

Hong Kong has been repeatedly ranked as the most expensive place to own a home. The Asian financial hub has an average living space of about 13 square meters per person in 2018 — or an area smaller than the size of two average bathtubs laid out side by side.

Some critics say the package of economic and social initiatives do little to address the underlying political issues or that it has simply come too late. Chan said, however, “one can argue there is never enough,” defending Lam’s new policies as “something out of the ordinary.”


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: grace shao
Keywords: news, cnbc, companies, housing, ahead, leader, protests, city, hong, bring, issues, normal, chan, citys, politician, stop, kong, violence, social, told, weekend


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Alibaba’s Jack Ma spent 10 years preparing for his retirement

When Alibaba’s founder Jack Ma retired from the company last month, it was not a decision he took lightly. Speaking at the Forbes Global CEO Conference on Tuesday, Ma said he was first awoken to the idea of retiring in 2004, when a venture capitalist told him he wasn’t “qualified as CEO.” But it was in 2009, when the company hit its 10 year anniversary, that his succession planning began in earnest. “That day I started to think I should prepare for my retirement,” Ma told audiences in Singapore.


When Alibaba’s founder Jack Ma retired from the company last month, it was not a decision he took lightly.
Speaking at the Forbes Global CEO Conference on Tuesday, Ma said he was first awoken to the idea of retiring in 2004, when a venture capitalist told him he wasn’t “qualified as CEO.”
But it was in 2009, when the company hit its 10 year anniversary, that his succession planning began in earnest.
“That day I started to think I should prepare for my retirement,” Ma told audiences in Singapore.
Alibaba’s Jack Ma spent 10 years preparing for his retirement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: karen gilchrist
Keywords: news, cnbc, companies, spent, preparing, jack, company, venture, day, wasnt, ceo, retirement, alibabas, took, anniversary, told


Alibaba's Jack Ma spent 10 years preparing for his retirement

When Alibaba’s founder Jack Ma retired from the company last month, it was not a decision he took lightly.

The 55-year-old announced in September 2018 that he would step down as executive chairman in 12 months’ time, bringing an end to his 20 years at the helm of the tech giant. But, he recently revealed, it was a plan he’d had in mind for more than a decade.

Speaking at the Forbes Global CEO Conference on Tuesday, Ma said he was first awoken to the idea of retiring in 2004, when a venture capitalist told him he wasn’t “qualified as CEO.” But it was in 2009, when the company hit its 10 year anniversary, that his succession planning began in earnest.

“That day I started to think I should prepare for my retirement,” Ma told audiences in Singapore.

“That day I decided my 20 year anniversary, the year 2019, September 10, will be the day I’ll leave,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: karen gilchrist
Keywords: news, cnbc, companies, spent, preparing, jack, company, venture, day, wasnt, ceo, retirement, alibabas, took, anniversary, told


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The US is becoming like China on trade policy, ex-White House negotiator says

The U.S. is beginning to resemble China on trade rather than the other way around, according to a former top trade and economic adviser to Presidents George H.W. The U.S.-China trade war showed some signs of easing last week after Washington and Beijing indicated that phase one of a deal had been agreed. However, he dismissed the merchandise bilateral trade deficit as an “economically meaningless metric.” “With a booming economy, low unemployment, and rising wages, it’s clear that the President’


The U.S. is beginning to resemble China on trade rather than the other way around, according to a former top trade and economic adviser to Presidents George H.W.
The U.S.-China trade war showed some signs of easing last week after Washington and Beijing indicated that phase one of a deal had been agreed.
However, he dismissed the merchandise bilateral trade deficit as an “economically meaningless metric.”
“With a booming economy, low unemployment, and rising wages, it’s clear that the President’
The US is becoming like China on trade policy, ex-White House negotiator says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: elliot smith
Keywords: news, cnbc, companies, focus, trade, house, trump, administration, exwhite, wto, told, presidents, broadman, bilateral, policy, negotiator, china


The US is becoming like China on trade policy, ex-White House negotiator says

The U.S. is beginning to resemble China on trade rather than the other way around, according to a former top trade and economic adviser to Presidents George H.W. Bush and Bill Clinton. The U.S.-China trade war showed some signs of easing last week after Washington and Beijing indicated that phase one of a deal had been agreed. However, doubt was cast over the details on Wednesday after a report that China’s commitment to U.S. agricultural purchases may be less substantial than initially claimed by President Donald Trump’s administration. Harry Broadman, former Assistant U.S. Trade Representative under the Bill Clinton administration and current partner at the Berkeley Research Group, told CNBC that any White House communications regarding the trade war should be seen through the lens of the president’s “singular focus” on his 2020 re-election campaign, adding that the deal touted by U.S. trade officials was “not much of a deal in any kind of meaningful way.” “As everyone knows, it does not touch on the threshold issues that the administration has been talking about for two years, which is the structural reforms, the intellectual property protections, subsidies, the state-owned enterprises and the like,” Broadman told CNBC via telephone from Washington on Tuesday. “It’s not even obvious to me how much of that was even discussed in the conversations and the reason for that, I believe, is the metric that Trump and his lieutenants, the Secretary of the Treasury and the U.S. Trade Representative, focus on is how to eliminate the merchandise bilateral trade deficit between the two countries.”

Broadman, who also served as chief of staff on George H.W. Bush’s Council of Economic Advisers, suggested that since the Trump campaign’s focus in both 2016 and 2020 is on eliminating the bilateral trade deficit on goods, the administration’s sole focus would be on demonstrating to Trump’s base that the promise been fulfilled. However, he dismissed the merchandise bilateral trade deficit as an “economically meaningless metric.” Defending the president’s trade policies, White House spokesman Judd Deere told CNBC on Thursday that the president has “used every available tool to level the playing field for American workers and reduce barriers to the export of our goods and services — a promise he made to all Americans and will continue to keep.” “With a booming economy, low unemployment, and rising wages, it’s clear that the President’s policy of fair and reciprocal trade along with lower taxes and deregulation are working,” Deere added.

‘Statist economy’

China has been a trade adversary for successive U.S. administrations and other major Western powers, who have accused the world’s second-largest economy of flouting World Trade Organization (WTO) rules since it joined the agreement in 2001. Broadman, who was part of the U.S. team that negotiated with the WTO, said a marked shift had occurred away from a focus on multilateral and plurilateral regional agreements and toward bilateral efforts between individual nations. “The other issue within that context, particularly in the bilateral context with China, is that these ‘agreements’ with China and the U.S. under the Trump administration, frankly, are making the U.S. look more like China, in the sense that these state-to-state deals on agricultural purchases are not market-driven purchases,” Broadman said. He added that the Trump administration was correct to criticize China for being a member of the WTO while maintaining a prominent state role in its economy, but suggested that Trump was now “centering his negotiations by employing the U.S. government on the transaction side.”


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: elliot smith
Keywords: news, cnbc, companies, focus, trade, house, trump, administration, exwhite, wto, told, presidents, broadman, bilateral, policy, negotiator, china


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European Central Bank members voice concern over its negative rate policy

Two members of the European Central Bank (ECB) have expressed concern at its current negative rate policy, fearing “unintended consequences” it could have on the region’s financial system. Italian central bank chief and ECB member Ignazio Visco, considered a dove that backed President Mario Draghi’s recent policy announcements, told CNBC that negative interest rates were the standout “unconventional” policy that had been implemented by the euro zone’s central bank. I don’t want to pass that poin


Two members of the European Central Bank (ECB) have expressed concern at its current negative rate policy, fearing “unintended consequences” it could have on the region’s financial system.
Italian central bank chief and ECB member Ignazio Visco, considered a dove that backed President Mario Draghi’s recent policy announcements, told CNBC that negative interest rates were the standout “unconventional” policy that had been implemented by the euro zone’s central bank.
I don’t want to pass that poin
European Central Bank members voice concern over its negative rate policy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: matt clinch
Keywords: news, cnbc, companies, ecb, european, concern, point, members, unintended, told, bank, rate, policy, central, package, voice, negative


European Central Bank members voice concern over its negative rate policy

Two members of the European Central Bank (ECB) have expressed concern at its current negative rate policy, fearing “unintended consequences” it could have on the region’s financial system.

Italian central bank chief and ECB member Ignazio Visco, considered a dove that backed President Mario Draghi’s recent policy announcements, told CNBC that negative interest rates were the standout “unconventional” policy that had been implemented by the euro zone’s central bank.

“I’m concerned. I’m concerned of unintended consequences,” he told CNBC’s Geoff Cutmore Thursday at the IMF and World Bank annual meetings in Washington, D.C.

“We have done a lot of analysis. At the end, we concluded that the package that we put together would be beneficial and even the elements of the package taken one-by-one would have a positive effect up to a point. And I think we are very close to that point. I don’t want to pass that point and then end up in a trap of negative interest rates.”

“So we have to be very careful about the side effects,” he added.

The ECB’s recent policy decision saw the launch of a substantial package of quantitative easing (QE), also known as large-scale asset purchases, and further reduce its main deposit rate by 10 basis points to -0.5%, a new record low.

A negative deposit rate essentially charges banks to park cash at the ECB, which can dent profits at lenders who are still recovering from the sovereign debt crisis of 2011. It has fueled concerns that it’s also stifling investment and potentially causing fund managers to overstretch in the search for yield.


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: matt clinch
Keywords: news, cnbc, companies, ecb, european, concern, point, members, unintended, told, bank, rate, policy, central, package, voice, negative


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Elaine’s ‘Seinfeld’ apartment building in NYC is on the market for over $8 million — take a look inside

Elaine Benes’ New York City apartment building from “Seinfeld” is on the market for $8.65 million — in reality it’s a townhouse that served as the exterior shot for Elaine’s home. In 1995, the home, which is in Manhattan’s Chelsea neighborhood, was purchased by the current owners for $950,000, according to Realtor.com. “Seinfeld” began airing in 1989, and as the owners told The Wall Street Journal, many of the shots used for the show were taken before they moved in. “Maybe twice a month, someone


Elaine Benes’ New York City apartment building from “Seinfeld” is on the market for $8.65 million — in reality it’s a townhouse that served as the exterior shot for Elaine’s home.
In 1995, the home, which is in Manhattan’s Chelsea neighborhood, was purchased by the current owners for $950,000, according to Realtor.com.
“Seinfeld” began airing in 1989, and as the owners told The Wall Street Journal, many of the shots used for the show were taken before they moved in.
“Maybe twice a month, someone
Elaine’s ‘Seinfeld’ apartment building in NYC is on the market for over $8 million — take a look inside Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: taylor locke
Keywords: news, cnbc, companies, apartment, moved, wall, look, million, street, inside, building, shot, say, told, monson, nyc, owners, townhouse, market, elaines, seinfeld


Elaine's 'Seinfeld' apartment building in NYC is on the market for over $8 million — take a look inside

Elaine Benes’ New York City apartment building from “Seinfeld” is on the market for $8.65 million — in reality it’s a townhouse that served as the exterior shot for Elaine’s home. Elaine was played by Julia Louis-Dreyfus.

In 1995, the home, which is in Manhattan’s Chelsea neighborhood, was purchased by the current owners for $950,000, according to Realtor.com. “Seinfeld” began airing in 1989, and as the owners told The Wall Street Journal, many of the shots used for the show were taken before they moved in.

“They had to come back and do footage for the final episode of Seinfeld shortly after we moved in because they discovered in their archives they didn’t have a night shot of our house,” one of the owners, Lori Monson, told The Wall Street Journal.

“Maybe twice a month, someone would walk by, and they’d say, ‘Is this Elaine’s house?’ I would go, ‘How would you know that?'” Monson told the Journal. “Maybe, I’d say, about 10 years ago, it stopped.”

The 4,730-square-foot townhouse has six bedrooms and four full bathrooms. Take a look inside.

Yoo Jean Han for Sotheby’s International Realty

Built in 1839, the first floor has hand-carved moldings, mahogany doors with original hardware and marble fireplaces.


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: taylor locke
Keywords: news, cnbc, companies, apartment, moved, wall, look, million, street, inside, building, shot, say, told, monson, nyc, owners, townhouse, market, elaines, seinfeld


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The latest in the brokerage wars: Charles Schwab will allow people to buy fractions of stocks

Charles Schwab is yet again lowering the barrier to enter the world of trading stocks. It’s a push to attract a younger demographic, Schwab told the WSJ. However, Schwab, which holds about $3.72 trillion in client assets, is the first major online broker to offer fractional trading. Schwab didn’t detail when the launch of the service would occur or if the fractional trades would have fees. Schwab told CNBC earlier this month that broker’s latest move to zero commissions was a longtime goal to de


Charles Schwab is yet again lowering the barrier to enter the world of trading stocks.
It’s a push to attract a younger demographic, Schwab told the WSJ.
However, Schwab, which holds about $3.72 trillion in client assets, is the first major online broker to offer fractional trading.
Schwab didn’t detail when the launch of the service would occur or if the fractional trades would have fees.
Schwab told CNBC earlier this month that broker’s latest move to zero commissions was a longtime goal to de
The latest in the brokerage wars: Charles Schwab will allow people to buy fractions of stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, trading, stocks, latest, stock, commission, buy, wars, allow, fractions, trade, brokerage, younger, charles, schwab, fractional, told, trades


The latest in the brokerage wars: Charles Schwab will allow people to buy fractions of stocks

Charles Schwab is yet again lowering the barrier to enter the world of trading stocks. The online broker will soon let its clients trade fractions of stocks, the founder and chairman told the Wall Street Journal in an interview.

In the coming months, Schwab clients that want to own Apple’s stock, won’t need the entire $234.49 it takes to own an entire share of the highly valued technology giant. It’s a push to attract a younger demographic, Schwab told the WSJ.

“Schwab has been quite focused on younger customers for some time, but we’re sure it’s also been watching the success some of the other free trading platforms have experienced and moving in line on fractional share trading makes sense,” Devin Ryan, managing director at JMP Securities, told CNBC in an email.

Schwab is not the first company to take a stab at offering partial stock trades. Smaller companies like Stockpile, which was founded in 2010, have provided this type of service for 99 cents per trade. However, Schwab, which holds about $3.72 trillion in client assets, is the first major online broker to offer fractional trading. Other companies that offer partial trade are M1 Finance, Betterment and Stash.

Schwab didn’t detail when the launch of the service would occur or if the fractional trades would have fees.

Earlier this month, Schwab dropped all commission fees for U.S. stocks, ETFs and options trades. Brokerage rivals E-Trade and TD Ameritrade subsequently followed, dropping their commission fees as well. Interactive Brokers also slashed its fees.

“The move is complementary with the commission cut as it removes any remaining friction around single stock trading,” said Ryan.

Schwab told CNBC earlier this month that broker’s latest move to zero commissions was a longtime goal to deliver to investors.

Shares of Schwab rose nearly 1% on Thursday.

Charles Schwab could not immediately be reached for comment.

—Read the full Wall Street Journal story here.


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, trading, stocks, latest, stock, commission, buy, wars, allow, fractions, trade, brokerage, younger, charles, schwab, fractional, told, trades


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US vaping crisis helped tank merger talks with Altria, Philip Morris lnternational’s CFO says

The U.S. vaping crisis helped tank merger talks between Philip Morris International and Altria, a top PMI executive said Thursday. PMI and Altria confirmed they were in merger talks in late August before calling off a potential deal in September. PMI shareholders pushed back on the combination, saying if they wanted exposure to the U.S. they could invest in Altria, King said. The two companies were one until Altria spun off its international business in 2008, creating PMI. Juul, the e-cigarette


The U.S. vaping crisis helped tank merger talks between Philip Morris International and Altria, a top PMI executive said Thursday.
PMI and Altria confirmed they were in merger talks in late August before calling off a potential deal in September.
PMI shareholders pushed back on the combination, saying if they wanted exposure to the U.S. they could invest in Altria, King said.
The two companies were one until Altria spun off its international business in 2008, creating PMI.
Juul, the e-cigarette
US vaping crisis helped tank merger talks with Altria, Philip Morris lnternational’s CFO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: angelica lavito, in angelicalavito
Keywords: news, cnbc, companies, pmi, lnternationals, vaping, philip, iqos, talks, helped, ecigarette, crisis, opportunity, merger, morris, cfo, king, tank, altria, told


US vaping crisis helped tank merger talks with Altria, Philip Morris lnternational's CFO says

The U.S. vaping crisis helped tank merger talks between Philip Morris International and Altria, a top PMI executive said Thursday.

PMI and Altria confirmed they were in merger talks in late August before calling off a potential deal in September. King told analysts on a call discussing the company’s third-quarter earnings the discussions were “a natural outgrowth” of Altria and PMI’s work together launching Iqos, PMI’s heated tobacco device, in the U.S.

Those talks broke down amid heightened scrutiny of e-cigarettes in the U.S., panic over a vaping-related lung disease and an epidemic of teen vaping prompted lawmakers and regulators to pursue restrictions on the industry, including an impending policy the Trump administration that would remove all flavored e-cigarettes from the market.

“One big thing was the environment was developing rather rapidly as we were in these discussions with all the news around e-vapor and the regulatory approach from FDA,” PMI Chief Financial Officer Martin King said on the call.

PMI shareholders pushed back on the combination, saying if they wanted exposure to the U.S. they could invest in Altria, King said. The two companies were one until Altria spun off its international business in 2008, creating PMI.

Juul, the e-cigarette giant Altria invested $12.8 billion in December, was not “the driver” that stated or ended the merger talks, King told CNBC in an interview following the earnings call. Juul, which declined to comment, dominates the U.S. e-cigarette company but is the subject of numerous lawsuits and investigations.

“It was the overall total picture, which included the environment, the news flow coming out of the e-cigarette situation overall out of the U.S., not just specific to Juul,” King told CNBC. “Obviously shareholder feedback is part of the totality of evidence approach, hence the decision to go down the known path, the very big opportunity we saw together with Altria with regard to Iqos.”

PMI and Altria will continue working together to launch Iqos in the U.S. Altria introduced Iqos in Atlanta earlier this month after the Food and Drug Administration cleared the product this spring. PMI already sells Iqos in 48 markets overseas.

At the end of the third quarter, PMI boasted 12.4 million Iqos users, 8.8 million of whom stopped smoking cigarettes and switched to Iqos altogether, King said Thursday. The Atlanta launch comes amid uncertainty in the e-cigarette market over a surge in teen vaping coupled with panic over a vaping-related lung disease that has sickened nearly 1,300 people and killed at least 26, according to the latest figures from the Centers for Disease Control and Prevention.

All e-cigarettes currently on the market will need to file applications to the FDA in May. The FDA will review the products’ safety and effect on public health before deciding whether the products can stay on the market. Iqos already went through this review process.

“We chose the path to focus on the big opportunity we have with Iqos, so let’s go down that road,” King said. “It’s right in front of us and we see that opportunity being even bigger than before the discussions.”

An Altria spokesman in an email said the company is “excited” about its “strong partnership with PMI and being able to introduce IQOS to adult smokers in the U.S.”


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: angelica lavito, in angelicalavito
Keywords: news, cnbc, companies, pmi, lnternationals, vaping, philip, iqos, talks, helped, ecigarette, crisis, opportunity, merger, morris, cfo, king, tank, altria, told


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Ray Dalio says the world is in a ‘great sag’ and echoes the 1930s

Hedge fund owner Ray Dalio said the global business cycle is in a “great sag” and the world’s economy holds at least two parallels to the 1930s. Dalio said the world was also experiencing the biggest wealth gap since the 1930s and that was creating political stress. Dalio told the CNBC panel that China’s new swagger was further evidence that the world now echoes the depression era of the last century. “Also like the 1930s, we have a rising power challenging an existing world power in the form of


Hedge fund owner Ray Dalio said the global business cycle is in a “great sag” and the world’s economy holds at least two parallels to the 1930s.
Dalio said the world was also experiencing the biggest wealth gap since the 1930s and that was creating political stress.
Dalio told the CNBC panel that China’s new swagger was further evidence that the world now echoes the depression era of the last century.
“Also like the 1930s, we have a rising power challenging an existing world power in the form of
Ray Dalio says the world is in a ‘great sag’ and echoes the 1930s Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: david reid
Keywords: news, cnbc, companies, fund, sag, world, 1930s, panel, hedge, echoes, power, dalio, cycle, great, told, ray


Ray Dalio says the world is in a 'great sag' and echoes the 1930s

Hedge fund owner Ray Dalio said the global business cycle is in a “great sag” and the world’s economy holds at least two parallels to the 1930s.

Speaking a CNBC-moderated panel at the IMF and World Bank annual meetings in Washington, D.C. on Thursday, Dalio said it was now too late for central banks to make much difference as economies enter a natural downturn.

“This cycle is fading, we are now in the world in what I would call a ‘great sag’,” said Dalio, adding that monetary policy, and especially interest rate reductions, were unlikely to offer much stimulus.

“Europe is at the limitation of that, Japan is (too) and the U.S. doesn’t have much to go on for that,” he told CNBC’s Geoff Cutmore.

Dalio said the world was also experiencing the biggest wealth gap since the 1930s and that was creating political stress.

“In the United States the top one-tenth of 1% of the population has a net worth that is approximately equal to the bottom 90%,” he said.

Dalio told the CNBC panel that China’s new swagger was further evidence that the world now echoes the depression era of the last century.

“Also like the 1930s, we have a rising power challenging an existing world power in the form of China-U.S. challenges.”

The hedge fund titan claimed there were four types of war to watch for — trade, technology, currency and geopolitical.


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: david reid
Keywords: news, cnbc, companies, fund, sag, world, 1930s, panel, hedge, echoes, power, dalio, cycle, great, told, ray


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‘We are not heading into a crisis like 10 years ago,’ head of Europe’s rescue fund says

Klaus Regling, the head of the European Stability Mechanism, told CNBC’s Geoff Cutmore at the IMF and World Bank annual meetings in Washington, D.C., that the euro region has “growth and potential.” “We are not heading into a crisis like 10 years ago. Sometimes reading the media it sounds like we are heading back to what happened 10 years ago — it’s not the case. The European Stability Mechanism, or ESM, is a crisis resolution mechanism set up for euro area countries. Following the euro zone sov


Klaus Regling, the head of the European Stability Mechanism, told CNBC’s Geoff Cutmore at the IMF and World Bank annual meetings in Washington, D.C., that the euro region has “growth and potential.”
“We are not heading into a crisis like 10 years ago.
Sometimes reading the media it sounds like we are heading back to what happened 10 years ago — it’s not the case.
The European Stability Mechanism, or ESM, is a crisis resolution mechanism set up for euro area countries.
Following the euro zone sov
‘We are not heading into a crisis like 10 years ago,’ head of Europe’s rescue fund says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: matt clinch
Keywords: news, cnbc, companies, fund, heading, zone, financial, esm, europes, euro, mechanism, ago, stability, crisis, european, rescue, head, told


'We are not heading into a crisis like 10 years ago,' head of Europe's rescue fund says

The managing director of Europe’s bailout fund told CNBC Thursday that the euro zone has worked hard to ensure it’s able to deal with future financial shocks, downplaying talk that another recession is just around the corner.

Klaus Regling, the head of the European Stability Mechanism, told CNBC’s Geoff Cutmore at the IMF and World Bank annual meetings in Washington, D.C., that the euro region has “growth and potential.”

“We are not heading into a crisis like 10 years ago. Nobody is arguing that. Sometimes reading the media it sounds like we are heading back to what happened 10 years ago — it’s not the case. We don’t even have stagnation,” he said.

“But there are risks, so we have to be careful and we know in our economic system there will be a crisis from time to time. We must do everything to try to prevent it, but it happens. And it always comes from a different corner.”

The European Stability Mechanism, or ESM, is a crisis resolution mechanism set up for euro area countries. It generates money by selling bonds in the global financial markets. Following the euro zone sovereign debt crisis of 2011, the ESM became integral to lawmakers and bankers as bailouts were dealt out to ailing economies.


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: matt clinch
Keywords: news, cnbc, companies, fund, heading, zone, financial, esm, europes, euro, mechanism, ago, stability, crisis, european, rescue, head, told


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Energy Secretary Rick Perry told Trump he intends to step down

Energy Secretary Rick Perry told President Donald Trump on Thursday that he intends to leave his post, two administration sources told a White House pool reporter. A senior administration official said that his resignation would become effective “very soon.” Perry, formerly the governor of Texas, had largely avoided headlines since joining the Trump administration in 2017. Trump also told House Republicans that Perry urged Trump to take the July call with Ukrainian President Volodymyr Zelensky t


Energy Secretary Rick Perry told President Donald Trump on Thursday that he intends to leave his post, two administration sources told a White House pool reporter.
A senior administration official said that his resignation would become effective “very soon.”
Perry, formerly the governor of Texas, had largely avoided headlines since joining the Trump administration in 2017.
Trump also told House Republicans that Perry urged Trump to take the July call with Ukrainian President Volodymyr Zelensky t
Energy Secretary Rick Perry told Trump he intends to step down Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: tucker higgins
Keywords: news, cnbc, companies, told, senior, step, staff, administration, house, white, president, trump, subpoena, secretary, rick, intends, perry, energy


Energy Secretary Rick Perry told Trump he intends to step down

Energy Secretary Rick Perry told President Donald Trump on Thursday that he intends to leave his post, two administration sources told a White House pool reporter.

The timing of his departure, first reported by Bloomberg, was not immediately clear. A senior administration official said that his resignation would become effective “very soon.” Multiple representatives of the Department of Energy did not immediately respond to a request for comment.

Perry, formerly the governor of Texas, had largely avoided headlines since joining the Trump administration in 2017. But in recent weeks he became entangled in the Democratic-led impeachment probe into Trump’s actions involving Ukraine.

Perry was one of three political appointees overseeing the U.S. relationship with the country after acting White House chief of staff Mick Mulvaney transferred that portfolio away from career staff, George Kent, a senior State Department official, told House investigators this week behind closed doors. Rep. Gerry Connolly, D-Va., described Kent’s account to reporters.

Trump also told House Republicans that Perry urged Trump to take the July call with Ukrainian President Volodymyr Zelensky that has become the focus of the impeachment inquiry, according to Axios, a news website. Perry’s office has said that he wanted the president to take the call to discuss energy-related matters.

House Democrats, investigating whether Trump conditioned military assistance for the country on an investigation of his political rival, hit Perry with a subpoena for documents earlier this month. The subpoena included a demand for a variety of Ukraine-related materials by Friday.

Perry recently denied reports that he was planning to leave his post.

— CNBC’s Kayla Tausche contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: tucker higgins
Keywords: news, cnbc, companies, told, senior, step, staff, administration, house, white, president, trump, subpoena, secretary, rick, intends, perry, energy


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