Europe should stand up and compete, not blame China

It is clearly a sign of changing times: Silvio Berlusconi, the longest-serving prime minister of the Italian Republic, wants to fight, at the ripe age of 82, in the European parliamentary elections next May. He pledges to make sure that “Europeans don’t stray too far from Western values” and fall under “the domination of the Chinese empire whose convictions and values are opposed to our own.” China, of course, has nothing to do with Berlusconi’s real intentions; it’s just a device to attract att


It is clearly a sign of changing times: Silvio Berlusconi, the longest-serving prime minister of the Italian Republic, wants to fight, at the ripe age of 82, in the European parliamentary elections next May. He pledges to make sure that “Europeans don’t stray too far from Western values” and fall under “the domination of the Chinese empire whose convictions and values are opposed to our own.” China, of course, has nothing to do with Berlusconi’s real intentions; it’s just a device to attract att
Europe should stand up and compete, not blame China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: dr michael ivanovitch, emmanuele contini, nurphoto, getty images
Keywords: news, cnbc, companies, minister, weekly, italian, europe, villa, stand, values, china, wants, works, blame, prime, western, chinese, compete


Europe should stand up and compete, not blame China

It is clearly a sign of changing times: Silvio Berlusconi, the longest-serving prime minister of the Italian Republic, wants to fight, at the ripe age of 82, in the European parliamentary elections next May. He pledges to make sure that “Europeans don’t stray too far from Western values” and fall under “the domination of the Chinese empire whose convictions and values are opposed to our own.”

China, of course, has nothing to do with Berlusconi’s real intentions; it’s just a device to attract attention like a bandana he was sporting, after a hair transplant operation, at his spectacularly beautiful Villa Certosa in Sardinia, when he was hosting the then-British Prime Minister Tony Blair in the spring of 2004.

Berlusconi sees that the Italian governing coalition party M5S, with its polls down to 25.4 percent, is losing ground. He, therefore, wants to boost the chances of his right-of-center Forza Italia to take its place alongside his increasingly popular allies of the Northern League, currently polling at 36 percent.

The Chinese have nothing to fear because here is what the other Italy — the one that works — is doing: Last Monday, Italy’s low-cost airline Neos Air launched its weekly service from Milan to Guiyang in China’s Guizhou Province to serve the rising flows of tourism and other economic exchanges.


Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: dr michael ivanovitch, emmanuele contini, nurphoto, getty images
Keywords: news, cnbc, companies, minister, weekly, italian, europe, villa, stand, values, china, wants, works, blame, prime, western, chinese, compete


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Paris informs Tokyo it wants Renault and Nissan to integrate

A French government delegation has informed Tokyo that it would seek an integration of Renault and Nissan, most likely under the umbrella of a single holding company, the Nikkei reported on Sunday. The delegation, which included French government-designated Renault director Martin Vial, also said that it wanted to name Nissan’s next chairman, according to the report. The French government has requested Renault hold a board meeting in coming days to replace Ghosn. Finance Minister Bruno Le Maire


A French government delegation has informed Tokyo that it would seek an integration of Renault and Nissan, most likely under the umbrella of a single holding company, the Nikkei reported on Sunday. The delegation, which included French government-designated Renault director Martin Vial, also said that it wanted to name Nissan’s next chairman, according to the report. The French government has requested Renault hold a board meeting in coming days to replace Ghosn. Finance Minister Bruno Le Maire
Paris informs Tokyo it wants Renault and Nissan to integrate Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-20  Authors: patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, tokyo, wants, senard, paris, newspaper, integrate, maire, ghosn, french, le, renault, jeandominique, informs, nissan


Paris informs Tokyo it wants Renault and Nissan to integrate

A French government delegation has informed Tokyo that it would seek an integration of Renault and Nissan, most likely under the umbrella of a single holding company, the Nikkei reported on Sunday.

The delegation, which included French government-designated Renault director Martin Vial, also said that it wanted to name Nissan’s next chairman, according to the report. Nissan was not immediately available for comment.

Nissan ex-chairman Carlos Ghosn, arrested and detained in Tokyo since Nov. 19, has been indicted in Japan on charges of under-reporting his salary for eight years through March 2018, and temporarily transferring personal investment losses to Nissan during the global financial crisis. Ghosn has denied all charges.

The French government has requested Renault hold a board meeting in coming days to replace Ghosn. Finance Minister Bruno Le Maire said in a newspaper interview published on Sunday that Michelin (MICP.PA) Chief Executive Jean-Dominique Senard could be a good choice to head Renault.

“The French state, as shareholder, will have its say. What I can tell you, is that Jean-Dominique Senard has a renowned competence with regards to the automobile industry,” Le Maire told France’s Journal du Dimanche newspaper.


Company: cnbc, Activity: cnbc, Date: 2019-01-20  Authors: patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, tokyo, wants, senard, paris, newspaper, integrate, maire, ghosn, french, le, renault, jeandominique, informs, nissan


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Walmart pharmacies likely to leave CVS network because of pricing dispute

For its part, CVS is placing the blame for the split on Walmart. Rice’s statement also said that CVS could not agree to Walmart’s demands for an increase in reimbursement. CVS said that it has asked Walmart to stay in its networks through April 30. Walmart said that it is still trying to find a solution that would benefit both parties and their shared customers. CVS Caremark, the pharmacy-benefits arm of CVS Health, said that if a split happens, it would not affect the pharmacy networks in its M


For its part, CVS is placing the blame for the split on Walmart. Rice’s statement also said that CVS could not agree to Walmart’s demands for an increase in reimbursement. CVS said that it has asked Walmart to stay in its networks through April 30. Walmart said that it is still trying to find a solution that would benefit both parties and their shared customers. CVS Caremark, the pharmacy-benefits arm of CVS Health, said that if a split happens, it would not affect the pharmacy networks in its M
Walmart pharmacies likely to leave CVS network because of pricing dispute Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: amelia lucas, john tlumacki, the boston globe, getty images
Keywords: news, cnbc, companies, walmarts, leave, health, wants, cvs, split, network, pharmacies, walmart, networks, customers, dispute, statement, likely, mcinnis, pricing


Walmart pharmacies likely to leave CVS network because of pricing dispute

CVS wasn’t always a drugstore. Now it wants to revolutionize health care. 4:00 PM ET Tue, 11 Dec 2018 | 07:03

Walmart spokeswoman Marilee McInnis said in a statement that the company is “disappointed CVS chose not to come to a resolution in a way that is beneficial to their members who are also our customers.” McInnis also said that the retailer wants to pass along savings to their customers, not a middle man.

For its part, CVS is placing the blame for the split on Walmart.

“At a time when everyone is working hard to find ways to reduce health care costs, Walmart’s requested rates would ultimately result in higher costs for our clients and consumers,” said Derica Rice, president of CVS Caremark, in a statement.

Rice’s statement also said that CVS could not agree to Walmart’s demands for an increase in reimbursement.

CVS said that it has asked Walmart to stay in its networks through April 30. A person familiar with the matter told the Wall Street Journal, which first reported the story, that the split could come as early as next month if Walmart doesn’t agree.

Walmart said that it is still trying to find a solution that would benefit both parties and their shared customers.

CVS Caremark, the pharmacy-benefits arm of CVS Health, said that if a split happens, it would not affect the pharmacy networks in its Medicare plans. Sam’s Club stores would also be spared from any impact.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: amelia lucas, john tlumacki, the boston globe, getty images
Keywords: news, cnbc, companies, walmarts, leave, health, wants, cvs, split, network, pharmacies, walmart, networks, customers, dispute, statement, likely, mcinnis, pricing


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Saudi Arabia to set up $10 billion oil refinery in Pakistan

Saudi Arabia plans to set up a $10 billion oil refinery in Pakistan’s deepwater port of Gwadar, the Saudi energy minister said on Saturday, speaking at the Indian Ocean port that is being developed with the help of China. Pakistan wants to attract investment and other financial support to tackle a soaring current account deficit caused partly by rising oil prices. Last year, Saudi Arabia offered Pakistan a $6 billion package that included help to finance crude imports. “Saudi Arabia wants to mak


Saudi Arabia plans to set up a $10 billion oil refinery in Pakistan’s deepwater port of Gwadar, the Saudi energy minister said on Saturday, speaking at the Indian Ocean port that is being developed with the help of China. Pakistan wants to attract investment and other financial support to tackle a soaring current account deficit caused partly by rising oil prices. Last year, Saudi Arabia offered Pakistan a $6 billion package that included help to finance crude imports. “Saudi Arabia wants to mak
Saudi Arabia to set up $10 billion oil refinery in Pakistan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-13  Authors: heinz-peter bader
Keywords: news, cnbc, companies, help, pakistan, refinery, billion, wants, economic, arabia, oil, saudi, china, set


Saudi Arabia to set up $10 billion oil refinery in Pakistan

Saudi Arabia plans to set up a $10 billion oil refinery in Pakistan’s deepwater port of Gwadar, the Saudi energy minister said on Saturday, speaking at the Indian Ocean port that is being developed with the help of China.

Pakistan wants to attract investment and other financial support to tackle a soaring current account deficit caused partly by rising oil prices. Last year, Saudi Arabia offered Pakistan a $6 billion package that included help to finance crude imports.

“Saudi Arabia wants to make Pakistan’s economic development stable throughestablishing an oil refinery and partnership with Pakistan in the China Pakistan Economic Corridor,” Saudi Energy Khalid al-Falih told reporters in Gwadar.

He said Crown Prince Mohammad bin Salman would visit Pakistan in February to sign the agreement. The minister added that Saudi Arabia would also invest in other sectors.

Beijing has pledged $60 billion as part of the China Pakistan Economic Corridor (CPEC) that involves building power stations, major highways, new and upgraded railways and higher capacity ports, to help turn Pakistan into a major overland route linking western China to the world.


Company: cnbc, Activity: cnbc, Date: 2019-01-13  Authors: heinz-peter bader
Keywords: news, cnbc, companies, help, pakistan, refinery, billion, wants, economic, arabia, oil, saudi, china, set


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Canadian prime minister says China not respecting diplomatic immunity in arrest case

Prime Minister Justin Trudeau said Friday that Chinese officials are not respecting the diplomatic immunity of one of the Canadians detained in China last month as he ramped up efforts to get them released. China arrested former Canadian diplomat Michael Kovrig and entrepreneur Michael Spavor on vague national security allegations. The arrests came after a top Chinese executive was arrested in Canada on Dec. 1 at the request of Washington, which wants Huawei chief financial officer Meng Wanzhou


Prime Minister Justin Trudeau said Friday that Chinese officials are not respecting the diplomatic immunity of one of the Canadians detained in China last month as he ramped up efforts to get them released. China arrested former Canadian diplomat Michael Kovrig and entrepreneur Michael Spavor on vague national security allegations. The arrests came after a top Chinese executive was arrested in Canada on Dec. 1 at the request of Washington, which wants Huawei chief financial officer Meng Wanzhou
Canadian prime minister says China not respecting diplomatic immunity in arrest case Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-12  Authors: martin ouellet-diotte, afp, getty images
Keywords: news, cnbc, companies, china, wants, chinese, month, arrested, immunity, michael, wanzhou, canadian, diplomatic, respecting, vague, minister, bail, case, washington, canada, arrest, prime


Canadian prime minister says China not respecting diplomatic immunity in arrest case

Prime Minister Justin Trudeau said Friday that Chinese officials are not respecting the diplomatic immunity of one of the Canadians detained in China last month as he ramped up efforts to get them released.

China arrested former Canadian diplomat Michael Kovrig and entrepreneur Michael Spavor on vague national security allegations.

The arrests came after a top Chinese executive was arrested in Canada on Dec. 1 at the request of Washington, which wants Huawei chief financial officer Meng Wanzhou extradited to face charges that she misled banks about the company’s business dealings in Iran. She is out on bail in Canada and awaiting a bail extradition proceeding next month.


Company: cnbc, Activity: cnbc, Date: 2019-01-12  Authors: martin ouellet-diotte, afp, getty images
Keywords: news, cnbc, companies, china, wants, chinese, month, arrested, immunity, michael, wanzhou, canadian, diplomatic, respecting, vague, minister, bail, case, washington, canada, arrest, prime


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RAM Trucks wants a bigger piece of hot heavy-duty trucks with new Detroit debut

RAM Trucks has stolen the limelight with its 1500 pickup truck in the eyes of many auto industry watchers. U.S. truck sales, especially full-size truck sales are dominated by the three American manufacturers: Ford, General Motors, and Chrysler. “Big trucks were up. Ford has done very well with its Super Duty trucks. So it’s the war of the big trucks this year.”


RAM Trucks has stolen the limelight with its 1500 pickup truck in the eyes of many auto industry watchers. U.S. truck sales, especially full-size truck sales are dominated by the three American manufacturers: Ford, General Motors, and Chrysler. “Big trucks were up. Ford has done very well with its Super Duty trucks. So it’s the war of the big trucks this year.”
RAM Trucks wants a bigger piece of hot heavy-duty trucks with new Detroit debut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-12  Authors: robert ferris, source
Keywords: news, cnbc, companies, trucks, big, debut, hot, bigger, wants, heavyduty, detroit, truck, payload, duty, mode, ram, ford, work, sales, piece


RAM Trucks wants a bigger piece of hot heavy-duty trucks with new Detroit debut

RAM Trucks has stolen the limelight with its 1500 pickup truck in the eyes of many auto industry watchers. Now it wants to spread a bit of that magic out to larger work pickups.

Fiat Chrysler released an updated lineup of heavy-duty pickups at the Detroit auto show on Monday.

With the new models, RAM is aiming at truck buyers who want to use the truck for work, but also want nice interiors and features that make the truck usable as a family or recreational vehicle on the weekend.

While the trucks have serious towing capability and payload capacity, RAM is also outfitting them with features designed to make the ride as pleasant as possible for drivers. Cabins are equipped with active noise cancellation, anti-vibration devices and acoustic glass.

The truck maker also says it has exclusive rear air suspension that has a special driver-activated Bed Lowering mode, a normal mode for driving with a payload in the bed and a Trailer-Tow Mode.

The introduction of the new vehicles is another shot fired in the ongoing battle between the three big American truck makers.

U.S. truck sales, especially full-size truck sales are dominated by the three American manufacturers: Ford, General Motors, and Chrysler. RAM has historically come in third place in sales, behind Ford and GM.

But bold design choices and upscale, feature-rich interiors have earned RAM’s light duty full-size line, the RAM 1500, has praise from critics and a jump in sales.

“It’s all part of the truck wars,” said Michelle Krebs, executive analyst for Autotrader, a website that connects car buyers and sellers.

Commercial and work-focused trucks and vans were extremely good in 2018, she said. Sales defied Autotrader forecasts by rising instead of falling, in large part because tax reform provided a benefit for businesses to buy vehicles.

“If you looked at the commercial van segment, that was up,” she said. “Big trucks were up. Ford has done very well with its Super Duty trucks. So Ram is looking at doing just as well. And GM is coming out with a new Silverado medium duty and heavy duty this year. So it’s the war of the big trucks this year.”


Company: cnbc, Activity: cnbc, Date: 2019-01-12  Authors: robert ferris, source
Keywords: news, cnbc, companies, trucks, big, debut, hot, bigger, wants, heavyduty, detroit, truck, payload, duty, mode, ram, ford, work, sales, piece


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European shares move slightly higher with Brexit, Fed in focus; UK GDP due

Construction and materials were leading the gains in early deals, with Lafargeholcim up by 2 percent. The stock was upgraded to buy from underperform by Bank of America. There was also some momentum in personal and household goods due to stock upgrades. The U.K. housebuilder Taylor Wimpey rose 3.4 percent and led the gains across Europe. Renault shares were under the flatline too after news that former Nissan Motor Chairman Carlos Ghosn was indicted on two new charges of financial misconduct.


Construction and materials were leading the gains in early deals, with Lafargeholcim up by 2 percent. The stock was upgraded to buy from underperform by Bank of America. There was also some momentum in personal and household goods due to stock upgrades. The U.K. housebuilder Taylor Wimpey rose 3.4 percent and led the gains across Europe. Renault shares were under the flatline too after news that former Nissan Motor Chairman Carlos Ghosn was indicted on two new charges of financial misconduct.
European shares move slightly higher with Brexit, Fed in focus; UK GDP due Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: silvia amaro
Keywords: news, cnbc, companies, virgin, wimpey, brexit, higher, stock, slightly, shares, buy, upgraded, uk, gains, fed, company, european, upgrades, focus, yield, gdp, wants


European shares move slightly higher with Brexit, Fed in focus; UK GDP due

The pan-European Stoxx 600 was 0.2 percent with almost every sector in positive territory. Construction and materials were leading the gains in early deals, with Lafargeholcim up by 2 percent. The stock was upgraded to buy from underperform by Bank of America.

There was also some momentum in personal and household goods due to stock upgrades. The U.K. housebuilder Taylor Wimpey rose 3.4 percent and led the gains across Europe.

The Swiss company Straumann was also among the top gainers, after its CEO said that it wants to increase sales five-fold within a decade, Reuters reported.

On the other hand, Orion dropped more than 6 percent after Jefferies cut its grade on the pharma company. The research firm argued that the current 4.5 percent dividend yield is not enough to support the share price, Reuters reported.

Furthermore, Flybe fell as much as 90 percent after a consortium of Virgin Atlantic Ltd, Stobart Group and Cyrus Capital Partners agreed to buy the low-cost airline.

Renault shares were under the flatline too after news that former Nissan Motor Chairman Carlos Ghosn was indicted on two new charges of financial misconduct.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: silvia amaro
Keywords: news, cnbc, companies, virgin, wimpey, brexit, higher, stock, slightly, shares, buy, upgraded, uk, gains, fed, company, european, upgrades, focus, yield, gdp, wants


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Most illegal immigration isn’t at Mexican border where Trump wants to build a wall

As the government shutdown enters day 18 with no resolution in sight, President Trump has repeatedly overstated the severity of illegal immigration at the border in order to convince Congress to approve more than $5 billion in funding for a border wall. During the 2018 fiscal year, which ran through the end of September, Customs and Border Protection (CBP) apprehended 396,579 undocumented immigrants at the southern border. President Trump’s claims about the southern border also fail to emphasize


As the government shutdown enters day 18 with no resolution in sight, President Trump has repeatedly overstated the severity of illegal immigration at the border in order to convince Congress to approve more than $5 billion in funding for a border wall. During the 2018 fiscal year, which ran through the end of September, Customs and Border Protection (CBP) apprehended 396,579 undocumented immigrants at the southern border. President Trump’s claims about the southern border also fail to emphasize
Most illegal immigration isn’t at Mexican border where Trump wants to build a wall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: carmin chappell, leah mills
Keywords: news, cnbc, companies, day, trump, immigrants, immigration, president, asylum, mexican, southern, illegal, build, border, isnt, wants, wall, fiscal


Most illegal immigration isn't at Mexican border where Trump wants to build a wall

Although President Donald Trump has frequently called the situation at the U.S.-Mexico border a “crisis,” government data shows that arrests are down compared to the Obama administration as most illegal immigration occurs through overstaying temporary visas.

As the government shutdown enters day 18 with no resolution in sight, President Trump has repeatedly overstated the severity of illegal immigration at the border in order to convince Congress to approve more than $5 billion in funding for a border wall.

“The crisis of illegal activity at our Southern Border is real and will not stop until we build a great Steel Barrier or Wall,” he tweeted on Dec. 22, the day the shutdown began.

During the 2018 fiscal year, which ran through the end of September, Customs and Border Protection (CBP) apprehended 396,579 undocumented immigrants at the southern border. That figure is lower than the 413,377 average yearly apprehensions during former President Barack Obama’s tenure and only a small fraction of the 1,643,679 apprehensions in 2000, when Bill Clinton was in office.

President Trump’s claims about the southern border also fail to emphasize that the majority of illegal immigration occurs when immigrants overstay their temporary visas. During the 2017 fiscal year, the Department of Homeland Security (DHS) found that 701,900 immigrants with visas remained in the U.S. past their expected departure date, more than double the 303,916 immigrants apprehended at the border during that same time frame. A report by the Center for Migration Studies found this pattern to be true for every year since 2007.

One population at the border that has grown in recent years is asylum seekers. In fiscal year 2018, 92,959 people at the southern border requested asylum, up 67 percent from the previous year. Asylum seekers made up 18 percent of all apprehensions at the border, “a dramatic departure from 2000-2013, when fewer than 1 percent of those encountered by CBP initiated asylum claims,” according to a CBP report.

The Trump administration has intentionally limited the number of asylum cases processed at the border each day, a practice known as ‘metering,’ in an attempt to dissuade immigrants from coming to the country. However, DHS has acknowledged that the practice “may have led to additional illegal border crossings.”


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: carmin chappell, leah mills
Keywords: news, cnbc, companies, day, trump, immigrants, immigration, president, asylum, mexican, southern, illegal, build, border, isnt, wants, wall, fiscal


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Ripple wants a piece of the global payment system while it fights a cryptocurrency ‘holy war’

Still, it has a long way to go before making a dent in global payments, which is dominated by the world’s biggest banks. Much like public blockchains, Ripple’s network uses advanced cryptography to make sure transactions are secure. Global payments ballooned to $1.9 trillion in 2017 and are forecast to grow to $2 trillion by 2020, according to an October report by McKinsey. Philip Bruno, a partner at McKinsey and co-lead of its global payments practice, said mobile telecommunications have raised


Still, it has a long way to go before making a dent in global payments, which is dominated by the world’s biggest banks. Much like public blockchains, Ripple’s network uses advanced cryptography to make sure transactions are secure. Global payments ballooned to $1.9 trillion in 2017 and are forecast to grow to $2 trillion by 2020, according to an October report by McKinsey. Philip Bruno, a partner at McKinsey and co-lead of its global payments practice, said mobile telecommunications have raised
Ripple wants a piece of the global payment system while it fights a cryptocurrency ‘holy war’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: kate rooney, chris helgren
Keywords: news, cnbc, companies, transactions, ripple, system, war, global, way, wants, payments, ripples, customers, payment, network, fights, piece, crossborder, holy, banks, cryptocurrency


Ripple wants a piece of the global payment system while it fights a cryptocurrency 'holy war'

Ripple’s biggest goal is to allow customers make cross-border payments. Even while XRP’s price slid 90 percent from its peak a year ago, Ripple says it was signing up an average two customers per week last year as it attempted to break into a legacy software and network business that hasn’t changed much in 45 years.

On Tuesday, Ripple announced it hit the 200-customer milestone, a 350 percent increase in customers sending live payments. It is now operating in more than 40 countries. Still, it has a long way to go before making a dent in global payments, which is dominated by the world’s biggest banks.

SWIFT, an acronym for the Belgium-based Society of Worldwide InterBank Financial Telecommunications, was established by banks in 1973 as a new way to communicate about cross-border payments, and the messaging system remains the go-to network for more than 10,000 member institutions.

Money transmittal between countries can take several days, especially if intermediaries called correspondent banks get involved. Ripple wants to shorten the process to a matter of seconds using something similar to blockchain — the distributed ledger technology that underpins bitcoin and is being tested by companies from Amazon to J.P. Morgan.

Much like public blockchains, Ripple’s network uses advanced cryptography to make sure transactions are secure. But all parties on the system do not have access to a shared ledger. Unlike cryptocurrency transactions, it can only be seen by those with permission to the network and transactions are not completely anonymous.

Even getting a crumb of Swift’s business could be a significant win. Global payments ballooned to $1.9 trillion in 2017 and are forecast to grow to $2 trillion by 2020, according to an October report by McKinsey. Philip Bruno, a partner at McKinsey and co-lead of its global payments practice, said mobile telecommunications have raised expectations for how quickly money is transferred from one place to another.

“We’ve been able to make much faster same day payments domestically with mobile banking,” Bruno said. “There’s now this expectation that if I can pay my brother or my cousin immediately, when I get to work why can’t I do the same thing to pay my global supplier?”

Banks aren’t going to let go of their dominance in cross-border payments that easily. Swift has a global payment initiative to speed the flow of information, and HSBC is among the partner banks testing Swift’s version and blockchain for payments. But as far as is known, not Ripple’s. The bank’s head of innovation Jeremy Balkin told CNBC that global banks “have a huge competitive advantage” when it comes to cross-border payments since they have branches and banking relationships across the world.

Global banks like Citi make “an automatic $8 billion on cross-border payments,” Ripple’s Garlinghouse acknowledged. “I think Citi will be the last customer we ever sign up because it has the highest vested interest in not changing the status quo.”


Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: kate rooney, chris helgren
Keywords: news, cnbc, companies, transactions, ripple, system, war, global, way, wants, payments, ripples, customers, payment, network, fights, piece, crossborder, holy, banks, cryptocurrency


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Elon Musk wants to keep ex-girlfriend Grimes out of an investor lawsuit over his take-private tweet

Elon Musk is fighting to keep his ex-girlfriend from being dragged into an investor lawsuit over the Tesla CEO’s now infamous take-private tweet. A group of investors is suing Tesla and Musk related to the tweet. “None of the third parties ever worked for Tesla or Mr. Musk, or is alleged to have had any involvement in his tweets or in his evaluation of a potential go-private transaction.” Banks is a friend of Grimes’ and said in Instagram posts that she stayed at Musk’s house in the days after h


Elon Musk is fighting to keep his ex-girlfriend from being dragged into an investor lawsuit over the Tesla CEO’s now infamous take-private tweet. A group of investors is suing Tesla and Musk related to the tweet. “None of the third parties ever worked for Tesla or Mr. Musk, or is alleged to have had any involvement in his tweets or in his evaluation of a potential go-private transaction.” Banks is a friend of Grimes’ and said in Instagram posts that she stayed at Musk’s house in the days after h
Elon Musk wants to keep ex-girlfriend Grimes out of an investor lawsuit over his take-private tweet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: sara salinas, theo wargo, getty images entertainment, getty images
Keywords: news, cnbc, companies, exgirlfriend, investor, elon, tesla, court, district, mr, grimes, musks, plaintiffs, instagram, banks, lawsuit, takeprivate, musk, wants


Elon Musk wants to keep ex-girlfriend Grimes out of an investor lawsuit over his take-private tweet

Elon Musk is fighting to keep his ex-girlfriend from being dragged into an investor lawsuit over the Tesla CEO’s now infamous take-private tweet.

Musk’s attorney, Dean Kristy, argued in a motion filed Thursday in a U.S. district court that the proposed subpoena of Canadian musician Grimes, who was dating Musk in August when he tweeted that he was considering taking Tesla private at $420 per share, is an effort to “sensationalize these proceedings” rather than a legitimate fact-finding mission.

A group of investors is suing Tesla and Musk related to the tweet. The plaintiffs are also proposing subpoenas of rapper Azealia Banks, who alleged in Instagram posts that Musk was using drugs at the time, and various media outlets that interviewed Banks or Musk, like Business Insider and The New York Times.

“Plaintiffs did not bother to contact any of the five non-parties it intends to subpoena to find out if they even have any relevant information,” Kristy argues in the motion. “None of the third parties ever worked for Tesla or Mr. Musk, or is alleged to have had any involvement in his tweets or in his evaluation of a potential go-private transaction.”

The Securities and Exchange Commission revealed in its own lawsuit against Musk — settled in September and resulting in $40 million in total fines — that Musk chose his proposed buyout price of $420 because he thought Grimes would find it funny.

Banks is a friend of Grimes’ and said in Instagram posts that she stayed at Musk’s house in the days after he sent the tweet. She later made allegations about his drug use and motivations on Instagram.

Kristy, citing news articles about the incident and rapper, says in the court filing:

She is a “veteran of long and nonsensical beefs [having] feuded with everyone from Sarah Palin to Nick Cannon”; she “remains a Twitter villain even after being banned from the service”; she went on a rant on Instagram “that began as a delirious critique of colonial wealth and racial privilege, [and] became a vaguely eugenicist denigration of Musk as a caveman”; and she “has a history of making bold and sometimes unverified claims,” including against Beyonce, MonetX (a rival) and Russell Crowe. Published reports also indicate that Ms. Banks apparently claims to have offered Twitter’s CEO a form of “protection” from ISIS. Despite reports that completely undermine her credibility, plaintiff calls her a “key source of information in this matter” – which if anything underscores how weak plaintiff’s case is – based entirely on her claim that she was present in Mr. Musk’s home to visit Ms. Boucher from August 10-12 (well after the August 7 tweets) and supposedly observed Mr. Musk, even though he flatly denies ever meeting her.

The plaintiffs are also seeking subpoenas of The New York Times, Business Insider and Gizmodo related to articles the outlets published in the weeks after Musk’s tweet.

The case is numbered 3:18-cv-04865-EMC in the Northern district of the U.S. District Court of California.

WATCH: What it’s like to ride inside Elon Musk’s first Boring Company tunnel


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: sara salinas, theo wargo, getty images entertainment, getty images
Keywords: news, cnbc, companies, exgirlfriend, investor, elon, tesla, court, district, mr, grimes, musks, plaintiffs, instagram, banks, lawsuit, takeprivate, musk, wants


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