The IRS has a new tax form out and wants to know about your cryptocurrency

eclipse_images | E+ | Getty ImagesTax season is still months away, but the IRS will want to know about your cryptocurrency holdings. This is the agency’s latest effort to gather additional information on taxpayers’ virtual currency holdings. Varying tax treatmentsThe Internal Revenue Service (IRS) headquarters in Washington, D.C. Janhvi Bhojwani | CNBCIf you sold your cryptocurrency, you need to report the transaction. Cryptocurrency you receive from an employer is subject to federal income tax


eclipse_images | E+ | Getty ImagesTax season is still months away, but the IRS will want to know about your cryptocurrency holdings.
This is the agency’s latest effort to gather additional information on taxpayers’ virtual currency holdings.
Varying tax treatmentsThe Internal Revenue Service (IRS) headquarters in Washington, D.C. Janhvi Bhojwani | CNBCIf you sold your cryptocurrency, you need to report the transaction.
Cryptocurrency you receive from an employer is subject to federal income tax
The IRS has a new tax form out and wants to know about your cryptocurrency Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: darla mercado
Keywords: news, cnbc, companies, virtual, taxpayers, taxes, form, know, report, question, irs, taxpayer, currency, wants, tax, cryptocurrency


The IRS has a new tax form out and wants to know about your cryptocurrency

eclipse_images | E+ | Getty Images

Tax season is still months away, but the IRS will want to know about your cryptocurrency holdings. The IRS just released a new Schedule 1 for the 2019 tax season, spelling out the details on above-the-line deductions, including the tax break for student loan interest and health savings account contributions. Eagle-eyed taxpayers will notice that the IRS threw in an extra question on the form: “At any time during 2019, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency?” This is the agency’s latest effort to gather additional information on taxpayers’ virtual currency holdings. See below for the form

“The biggest thing is that the IRS is asking this for a reason, and my question is how much have you increased your audit risk by checking ‘Yes’ in response?” asked Jeffrey Levine, CPA and director of financial planning at BluePrint Wealth Alliance in Garden City, New York. The inquiry itself is a vague one, experts said. “As a taxpayer myself, I find this question very frustrating because it isn’t clear,” said Sarah-Jane Morin, partner at Morgan Lewis in San Francisco. Moving your own virtual currency from one crypto wallet to another, for instance, could be considered “sending,” she said “The most conservative approach that a taxpayer can take is to consider any interaction you’ve had with virtual currency and whether there’s any way this can fall under this very broad list of what you could’ve engaged in during 2019,” said Morin. Indeed, the IRS has signaled that it would be taking a closer look at cryptocurrency. Back in July, the agency announced it was sending letters to more than 10,000 taxpayers with virtual currency transactions who may have failed to report income and pay taxes owed. Here are the tax basics on cryptocurrency.

Varying tax treatments

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

If you sold your cryptocurrency, you need to report the transaction. If you wound up with a capital gain, you must pay the appropriate tax. Cryptocurrency you receive from an employer is subject to federal income tax withholding, FICA tax and federal unemployment taxes, just like wages. These should be reported on your Form W-2, the IRS said. Meanwhile, independent contractors who are paid in virtual currency must pay self-employment taxes. For those who mine cryptocurrency, the fair market value of it as of the day of receipt is included in your gross income, according to IRS guidance.

Failure to properly report these transactions can be costly: You may be audited and held liable for penalties and interest. In the most extreme cases, you could face prison time and a fine of up to $250,000. “A taxpayer who is investing in virtual currency should have a system for tracking the purchase and selling price of the assets,” said April Walker, lead manager for tax practice and ethics at the American Institute of CPAs. “For tax purposes, the virtual currency is treated as property, similar to a security,” she said. “Therefore, taxpayers should maintain cost records similar to the way records are kept for stocks and securities, although there will be no monthly statements.”

Following basis

Luc MacGregor | Bloomberg | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: darla mercado
Keywords: news, cnbc, companies, virtual, taxpayers, taxes, form, know, report, question, irs, taxpayer, currency, wants, tax, cryptocurrency


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Agriculture Sec. Perdue: Trump wants an enforceable, reliable China trade deal

Agriculture Sec. Perdue: Trump wants an enforceable, reliable China trade dealAgriculture Secretary Sonny Perdue joins “Squawk Box” to discuss the latest on the U.S.-China trade negotiations and how it’s affecting the U.S. agriculture community.


Agriculture Sec.
Perdue: Trump wants an enforceable, reliable China trade dealAgriculture Secretary Sonny Perdue joins “Squawk Box” to discuss the latest on the U.S.-China trade negotiations and how it’s affecting the U.S. agriculture community.
Agriculture Sec. Perdue: Trump wants an enforceable, reliable China trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04
Keywords: news, cnbc, companies, trump, wants, deal, uschina, china, enforceable, sonny, trade, sec, agriculture, perdue, squawk, reliable, secretary


Agriculture Sec. Perdue: Trump wants an enforceable, reliable China trade deal

Agriculture Sec. Perdue: Trump wants an enforceable, reliable China trade deal

Agriculture Secretary Sonny Perdue joins “Squawk Box” to discuss the latest on the U.S.-China trade negotiations and how it’s affecting the U.S. agriculture community.


Company: cnbc, Activity: cnbc, Date: 2019-12-04
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Agriculture secretary says Trump wants a US-China trade deal that’s ‘enforceable’ and ‘reliable’

President Donald Trump only wants a “phase one” trade deal with China that works for the United States, Agriculture Secretary Sonny Perdue told CNBC on Wednesday. In comments from this week’s NATO summit, Trump said Wednesday that China trade talks are going well — just one day after suggesting he may want to delay a China trade deal until after the 2020 presidential election. “We in agriculture are optimistically hopeful we can conclude this,” Perdue said, reiterating concerns from some Trump o


President Donald Trump only wants a “phase one” trade deal with China that works for the United States, Agriculture Secretary Sonny Perdue told CNBC on Wednesday.
In comments from this week’s NATO summit, Trump said Wednesday that China trade talks are going well — just one day after suggesting he may want to delay a China trade deal until after the 2020 presidential election.
“We in agriculture are optimistically hopeful we can conclude this,” Perdue said, reiterating concerns from some Trump o
Agriculture secretary says Trump wants a US-China trade deal that’s ‘enforceable’ and ‘reliable’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, trump, wants, deal, tariffs, uschina, china, enforceable, billion, trade, agriculture, farmers, perdue, reliable, secretary, thats


Agriculture secretary says Trump wants a US-China trade deal that's 'enforceable' and 'reliable'

President Donald Trump only wants a “phase one” trade deal with China that works for the United States, Agriculture Secretary Sonny Perdue told CNBC on Wednesday.

“Trump wants to conclude a deal that can be enforceable, that can be reliable and be consistent with what the deal says,” said Perdue, who appeared on “Squawk Box” shortly after Bloomberg reported that the U.S. and China were edging closer to finalizing an agreement before new U.S. tariffs go into effect against Chinese goods on Dec. 15.

In comments from this week’s NATO summit, Trump said Wednesday that China trade talks are going well — just one day after suggesting he may want to delay a China trade deal until after the 2020 presidential election.

Perdue said the trade war, which has seen escalating tariffs on both sides for more than 15 months, has actually been been going on for the past 20 years. “We just didn’t recognize it until President Trump decided to reset the arrangement.”

Beijing and Washington have placed retaliatory tariffs on billions of dollars of each other’s goods, a move that’s hit U.S. farmers. Nearly $20 billion in U.S. agricultural exports went to China last year.

“We in agriculture are optimistically hopeful we can conclude this,” Perdue said, reiterating concerns from some Trump officials that China won’t follow through on its promises.

Farmers were looking for some relief in the phase one deal, announced by Trump in October. Though would not signed, Trump said the deal will include purchases of about $40 billion to $50 billion worth of farm products by China.

The U.S. Department of Agriculture in July also authorized up to $12 billion in aid to help farmers who have been harmed by the retaliatory tariffs. However, farmers are looking for a permanent deal rather than help from the White House.

“Every farmer in America would rather have trade than aid,” Perdue said.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, trump, wants, deal, tariffs, uschina, china, enforceable, billion, trade, agriculture, farmers, perdue, reliable, secretary, thats


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US-China trade war is ‘unresolvable,’ strategist says

A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on November 6, 2018. Investors look set to make money when Washington and Beijing sign their “phase one” trade deal — but in the long term, the Sino-U.S. trade war is “unresolvable,” according to one analyst. “The way to make money is easy right now, you just have to own something, because everything’s just been grinding higher,” he said. “No one wants to be short going into the day before the


A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on November 6, 2018.
Investors look set to make money when Washington and Beijing sign their “phase one” trade deal — but in the long term, the Sino-U.S. trade war is “unresolvable,” according to one analyst.
“The way to make money is easy right now, you just have to own something, because everything’s just been grinding higher,” he said.
“No one wants to be short going into the day before the
US-China trade war is ‘unresolvable,’ strategist says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: chloe taylor
Keywords: news, cnbc, companies, strategist, war, unresolvable, armstrong, president, uschina, way, trade, money, washington, wants, deal, phase


US-China trade war is 'unresolvable,' strategist says

A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on November 6, 2018.

Investors look set to make money when Washington and Beijing sign their “phase one” trade deal — but in the long term, the Sino-U.S. trade war is “unresolvable,” according to one analyst.

Speaking to CNBC’s “Squawk Box Europe” on Tuesday, Patrick Armstrong, CIO of Plurimi Investment Managers, said holding any asset ahead of the agreement being finalized would definitely pay off.

“The way to make money is easy right now, you just have to own something, because everything’s just been grinding higher,” he said. “No one wants to be short going into the day before the trade deal’s announced.”

Markets have experienced volatility on the back of news relating to the U.S. and China’s “phase one” deal since President Donald Trump announced it was being negotiated in October. The U.S. president added fresh uncertainty to proceedings on Tuesday when he told reporters in London it might be better to wait until after the United States’ 2020 election to strike a deal with Beijing.

Despite months of anticipation from markets, however, Armstrong speculated the preliminary deal would be a “sell the news type event” with little economic impact.


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: chloe taylor
Keywords: news, cnbc, companies, strategist, war, unresolvable, armstrong, president, uschina, way, trade, money, washington, wants, deal, phase


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Dow drops 200 points after worse-than-expected manufacturing data

The Dow Jones Industrial Average fell 200 points, or 0.8%. Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said. Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.” Trade worries also offset stronger-than-expected manufacturing data out of China. The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate


The Dow Jones Industrial Average fell 200 points, or 0.8%.
Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said.
Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.”
Trade worries also offset stronger-than-expected manufacturing data out of China.
The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate
Dow drops 200 points after worse-than-expected manufacturing data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: fred imbert
Keywords: news, cnbc, companies, dow, points, 200, month, came, wants, worsethanexpected, manufacturing, tariffs, optimism, trade, drops, data, trump, china


Dow drops 200 points after worse-than-expected manufacturing data

Monday’s losses came after a strong performance in November. The major averages had their biggest monthly gains since June, rallying to record highs. The S&P 500 climbed 3.4% last month while the Dow advanced 3.7%. The Nasdaq rallied 4.5%.

The Dow Jones Industrial Average fell 200 points, or 0.8%. The S&P 500 pulled back 0.8% while the Nasdaq Composite traded 1.4% lower. The major averages started off the session with slight gains before turning lower.

Stocks dropped on Monday, the first trading day of December, as investors digested disappointing economic data along with the latest trade news after capping a month that featured blistering gains.

A General Motors assembly worker moves a V6 engine, used in a variety of GM cars, trucks and crossovers, from the final assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019.

“The trend and momentum going into December are bullish,” said Bruce Bittles, chief investment strategist at Baird. “However, investor optimism is registering as excessive by many of the services we follow. While optimism is not euphoric, excessive investor optimism generally suggests a pause in a bull market.”

Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said. The ISM Manufacturing PMI dipped to 48.1 in November. That’s below an estimate of 49.4. Stocks hit their session lows after the data was released.

“All in all, this should take some wind out of the sails of the argument that the U.S. economy is accelerating going into the end of the year,” said Jon Hill, vice president of rates strategy at BMO Capital Markets.

Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.” There is no clear indication of when both countries will be able to sign an agreement and last week saw fresh tension between Washington and Beijing after Trump signed legislation supporting protesters in Hong Kong.

That comment came after Chinese state media reported Sunday that Beijing wants a cancellation of tariffs for a phase one trade deal.

Trump also said Monday he will restore tariffs on metal imports from Brazil and Argentina. In a tweet, he said: “Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries.”

Trump noted in a separate tweet that “U.S. markets are up as much as 21%” since his first tariffs announcement on March 1, 2018, adding the U.S. is “taking in massive amounts of money.”

The percolating uncertainty around trade came despite Axios reporting, citing a source, that Trump is expected to hold off on additional tariffs against China set to kick in this month in the hopes of striking a deal before year-end.

Trade worries also offset stronger-than-expected manufacturing data out of China. The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate of 51.4.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: fred imbert
Keywords: news, cnbc, companies, dow, points, 200, month, came, wants, worsethanexpected, manufacturing, tariffs, optimism, trade, drops, data, trump, china


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Saudi Arabia wants OPEC+ to deepen oil cuts due to Aramco IPO

Saudi Arabia’s new Energy Minister, Prince Abdulaziz bin Salman takes a tour at the exhibition during the 24th World Energy Congress in Abu Dhabi, United Arab Emirates September 9, 2019. OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with the talks said. Prince Abdulaziz bin Salman heads to Vienna this week for his


Saudi Arabia’s new Energy Minister, Prince Abdulaziz bin Salman takes a tour at the exhibition during the 24th World Energy Congress in Abu Dhabi, United Arab Emirates September 9, 2019.
OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with the talks said.
Prince Abdulaziz bin Salman heads to Vienna this week for his
Saudi Arabia wants OPEC+ to deepen oil cuts due to Aramco IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02
Keywords: news, cnbc, companies, sources, cuts, ipo, wants, abdulaziz, energy, opec, vienna, arabia, deal, aramco, saudi, oil, deepen


Saudi Arabia wants OPEC+ to deepen oil cuts due to Aramco IPO

Saudi Arabia’s new Energy Minister, Prince Abdulaziz bin Salman takes a tour at the exhibition during the 24th World Energy Congress in Abu Dhabi, United Arab Emirates September 9, 2019.

OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with the talks said.

The deal being discussed by the Organization of the Petroleum Exporting Countries and other producers, known as OPEC+, would be to add at least 400,000 barrels per day (bpd) to existing cuts of 1.2 million bpd. The current deal runs to March.

“They (the Saudis) want to surprise the market,” one of the sources said.

Another two sources said the latest OPEC analysis, drawn up by OPEC’s Economic Commission Board (ECB), showed a large oversupply and build up in inventories in the first half of 2020, if not additional cuts were made.

Prince Abdulaziz bin Salman heads to Vienna this week for his first OPEC meeting as Saudi Arabia’s energy minister.

The veteran oil official, known as a tough negotiator, wants to make ensure oil prices stay high enough during Aramco’s initial share offering (IPO), sources said.

The IPO will be priced on Dec. 5, the same day OPEC meets in Vienna. The OPEC+ grouping holds talks on Dec. 6.

Saudi officials, including Prince Abdulaziz, have insisted on stricter compliance with the current cuts, especially as countries such as Iraq and Nigeria have produced well above their quotas while Riyadh has cut more than demanded.

However, the Saudis are lobbying other producers to deepen cuts and have been signaling that they are ready to continue taking the biggest burden and to cut well in excess of their target.


Company: cnbc, Activity: cnbc, Date: 2019-12-02
Keywords: news, cnbc, companies, sources, cuts, ipo, wants, abdulaziz, energy, opec, vienna, arabia, deal, aramco, saudi, oil, deepen


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China wants rollback of tariffs in phase one trade deal with US, Chinese state media says

Chinese President Xi Jinping (R) and US President Donald Trump attend their bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019. Beijing is insisting U.S. tariffs must be rolled back as part of any phase one trade deal with Washington, China’s Global Times newspaper said on Sunday citing unnamed sources, amid continued uncertainty on whether the two sides can strike a deal. “A US pledge to scrap tariffs scheduled for December 15 cannot replace the rollbacks of tariffs,


Chinese President Xi Jinping (R) and US President Donald Trump attend their bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019.
Beijing is insisting U.S. tariffs must be rolled back as part of any phase one trade deal with Washington, China’s Global Times newspaper said on Sunday citing unnamed sources, amid continued uncertainty on whether the two sides can strike a deal.
“A US pledge to scrap tariffs scheduled for December 15 cannot replace the rollbacks of tariffs,
China wants rollback of tariffs in phase one trade deal with US, Chinese state media says Cached Page below :
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China wants rollback of tariffs in phase one trade deal with US, Chinese state media says

Chinese President Xi Jinping (R) and US President Donald Trump attend their bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019.

Beijing is insisting U.S. tariffs must be rolled back as part of any phase one trade deal with Washington, China’s Global Times newspaper said on Sunday citing unnamed sources, amid continued uncertainty on whether the two sides can strike a deal.

“A US pledge to scrap tariffs scheduled for December 15 cannot replace the rollbacks of tariffs,” the newspaper said in a tweet, referring to an additional round of tariffs on Chinese imports to be implemented in the absence of a trade deal.

The Global Times is published by the People’s Daily, the official newspaper of China’s ruling Communist Party.

On Tuesday, U.S. President Donald Trump said Washington was in the “final throes” of a deal aimed at defusing a 16-month trade war with China. Top trade negotiators for both countries also spoke again and agreed to continue working on the remaining issues.

Trade experts and people close to the White House told Reuters last month, however, that signing of a phase one agreement may not take place until the new year as China pressed for more extensive rollbacks of tariffs. An agreement was initially expected to be completed by the end of November.

U.S. Senate Finance Committee Chairman Chuck Grassley told reporters on Tuesday that Beijing invited U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin for in-person talks in Beijing.

Grassley said Lighthizer and Mnuchin were willing to go if they saw “a real chance of getting a final agreement”.

A source familiar with the trade talks also told Reuters that U.S. officials could travel to China after Thursday’s Thanksgiving holiday in the United States.


Company: cnbc, Activity: cnbc, Date: 2019-12-01
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Britain’s two biggest political parties have radically different plans for the economy

This is the choice that the U.K.’s two biggest parties are offering at the upcoming election, according one independent British think tank. The opposition and pro-social justice party, Labour, has promised a total revamp of the U.K.’s economics. On the other hand, the incumbents and pro-business Conservative Party has put forward a somewhat “modest” manifesto, according to the IFS. “It is hard to imagine two parties offering more different prospectuses to the British population,” Johnson told CN


This is the choice that the U.K.’s two biggest parties are offering at the upcoming election, according one independent British think tank.
The opposition and pro-social justice party, Labour, has promised a total revamp of the U.K.’s economics.
On the other hand, the incumbents and pro-business Conservative Party has put forward a somewhat “modest” manifesto, according to the IFS.
“It is hard to imagine two parties offering more different prospectuses to the British population,” Johnson told CN
Britain’s two biggest political parties have radically different plans for the economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-29  Authors: silvia amaro
Keywords: news, cnbc, companies, economy, conservative, different, parties, biggest, ifs, manifesto, taxes, party, hand, britains, political, plans, labour, worth, radically, johnson, wants


Britain's two biggest political parties have radically different plans for the economy

SALFORD, ENGLAND – NOVEMBER 19: In this handout image supplied by ITV, Prime Minister Boris Johnson and Leader of the Labour Party Jeremy Corbyn shake hands during the ITV Leaders Debate at Media Centre on November 19, 2019 in Salford, England.

More of the same or a massive change to the economic system? This is the choice that the U.K.’s two biggest parties are offering at the upcoming election, according one independent British think tank.

“Rarely can a starker choice have been placed before the U.K. electorate,” Paul Johnson, director of the Institute for Fiscal Studies (IFS), said at event in London Thursday.

The opposition and pro-social justice party, Labour, has promised a total revamp of the U.K.’s economics. It wants to nationalize the six big energy firms, the National Grid, the water industry, the Royal Mail, the railways and the broadband arm of telecoms firm BT. Labour also wants to increase taxes for corporations.

On the other hand, the incumbents and pro-business Conservative Party has put forward a somewhat “modest” manifesto, according to the IFS.

“It is hard to imagine two parties offering more different prospectuses to the British population,” Johnson told CNBC.

“The Conservative manifesto is essentially ‘steady she goes’, no increases in taxes, very little in the way of spending rises, nothing changing in the welfare system. The Labour manifesto, on the other hand, is enormous in its ambition, literally £100 billion worth of spending increases, £80 billion worth of tax rises,” Johnson added.

Reacting to the IFS analysis, John McDonnell, a Labour lawmaker and prominent figure within the party said: “The IFS assessment of Labour’s plans is that we are too ambitious — we take that with pride. We are ambitious for our country and will be investing on the scale needed to end austerity, tackle climate change and build our county’s future.”

On the other hand, Sajid Javid, the Conservative minister for finance said Thursday: “Independent experts have again confirmed today that (Labour leader Jeremy) Corbyn’s plans would mean millions more people paying higher taxes — leaving his manifesto promises in tatters.”


Company: cnbc, Activity: cnbc, Date: 2019-11-29  Authors: silvia amaro
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Merkel wants Europe to aim for joint stance on China and 5G

View of the Huawei Germany headquarters. Despite political concerns, the Chinese telecommunications group Huawei will in future be able to play a major role in the expansion of the German 5G mobile communications network. German Chancellor Angela Merkel called on European countries on Wednesday to agree a common approach towards China and the rollout of the next generation 5G mobile network. Some German lawmakers want to exclude China’s Huawei from 5G contracts, following warnings by the United


View of the Huawei Germany headquarters.
Despite political concerns, the Chinese telecommunications group Huawei will in future be able to play a major role in the expansion of the German 5G mobile communications network.
German Chancellor Angela Merkel called on European countries on Wednesday to agree a common approach towards China and the rollout of the next generation 5G mobile network.
Some German lawmakers want to exclude China’s Huawei from 5G contracts, following warnings by the United
Merkel wants Europe to aim for joint stance on China and 5G Cached Page below :
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Merkel wants Europe to aim for joint stance on China and 5G

View of the Huawei Germany headquarters. Despite political concerns, the Chinese telecommunications group Huawei will in future be able to play a major role in the expansion of the German 5G mobile communications network.

German Chancellor Angela Merkel called on European countries on Wednesday to agree a common approach towards China and the rollout of the next generation 5G mobile network.

Some German lawmakers want to exclude China’s Huawei from 5G contracts, following warnings by the United States that this could lead to spying for Beijing. Huawei denies the allegations made by Washington.

Merkel prefers security standards to be the yardstick rather than singling out individual firms.

“One of the biggest dangers … is that individual countries in Europe will have their own policies towards China and then mixed signals will be sent out,” she told lawmakers in a budget debate in the Bundestag lower house on Wednesday.

“That would be disastrous not for China but for us in Europe,” Merkel said, adding Germany and France must try to agree a common approach first and a Europe-wide solution could be developed from that.

France will not follow the United States and exclude Huawei from its 5G network but will have the power to vet all equipment makers for any potential security threat, a minister said on Monday.

“It is undisputed that we need high security standards in the expansion of 5G but just as we must define that for ourselves, we must also discuss it with other European partners,” Merkel said.

All the telecoms operators in Germany, which has close trading ties with China, are customers of Huawei and have warned that banning it would delay the launch of 5G networks.


Company: cnbc, Activity: cnbc, Date: 2019-11-28
Keywords: news, cnbc, companies, china, united, huawei, states, security, wants, joint, aim, europe, standards, merkel, stance, mobile, germany


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A 29-year-old millionaire who saves 99% of his income shares the 2 things he refuses to spend money on

Graham Stephan can afford to buy nearly anything he wants: The 29-year-old earns up to $220,000 in a single month and is on track to make a minimum of $1.6 million in 2019. Still, the YouTube star and real estate investor is careful with his cash. “I’ve always enjoyed the aspect of not spending money, even as a kid,” he tells CNBC Make It, adding, “I end up saving about 99% of my income, just because my income is so high, and I keep my expenses so low.” Stephan, whose net worth crossed $1 millio


Graham Stephan can afford to buy nearly anything he wants: The 29-year-old earns up to $220,000 in a single month and is on track to make a minimum of $1.6 million in 2019.
Still, the YouTube star and real estate investor is careful with his cash.
“I’ve always enjoyed the aspect of not spending money, even as a kid,” he tells CNBC Make It, adding, “I end up saving about 99% of my income, just because my income is so high, and I keep my expenses so low.”
Stephan, whose net worth crossed $1 millio
A 29-year-old millionaire who saves 99% of his income shares the 2 things he refuses to spend money on Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-28  Authors: kathleen elkins
Keywords: news, cnbc, companies, money, shares, millionaire, coffee, things, track, spend, youtube, income, 29yearold, think, refuses, worth, tells, saves, wants, million


A 29-year-old millionaire who saves 99% of his income shares the 2 things he refuses to spend money on

Graham Stephan can afford to buy nearly anything he wants: The 29-year-old earns up to $220,000 in a single month and is on track to make a minimum of $1.6 million in 2019.

Still, the YouTube star and real estate investor is careful with his cash. “I’ve always enjoyed the aspect of not spending money, even as a kid,” he tells CNBC Make It, adding, “I end up saving about 99% of my income, just because my income is so high, and I keep my expenses so low.”

Stephan, whose net worth crossed $1 million for the first time at 26, keeps his costs down partly by refusing to spend on two things: “Number one is coffee. I think the markup of coffee at Starbucks and Coffee Bean and a lot of those places out there is absolutely ridiculous, so I just make it at home for 20 cents.”

He buys his coffee at Smart & Final, where he can get a large bag for “like half the price” of other grocery stores, he says.


Company: cnbc, Activity: cnbc, Date: 2019-11-28  Authors: kathleen elkins
Keywords: news, cnbc, companies, money, shares, millionaire, coffee, things, track, spend, youtube, income, 29yearold, think, refuses, worth, tells, saves, wants, million


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