Larry Kudlow says there could be a tax cut before Election Day

Top White House economic advisor Larry Kudlow said Thursday that President Donald Trump could put forward a tax cut before the 2020 presidential election. “You very may well see a new rollout of additional middle-class tax relief and small-business tax relief,” Kudlow said in an interview on Fox Business Network. On Wednesday, Trump said that he’s “not looking at a tax cut now. When asked Thursday to provide more details about the possible preelection tax cut, Kudlow said, “I don’t want to get i


Top White House economic advisor Larry Kudlow said Thursday that President Donald Trump could put forward a tax cut before the 2020 presidential election. “You very may well see a new rollout of additional middle-class tax relief and small-business tax relief,” Kudlow said in an interview on Fox Business Network. On Wednesday, Trump said that he’s “not looking at a tax cut now. When asked Thursday to provide more details about the possible preelection tax cut, Kudlow said, “I don’t want to get i
Larry Kudlow says there could be a tax cut before Election Day Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: kevin breuninger
Keywords: news, cnbc, companies, tax, white, kudlow, washington, election, scott, day, trump, house, cut, payroll, taxes, larry


Larry Kudlow says there could be a tax cut before Election Day

Top White House economic advisor Larry Kudlow said Thursday that President Donald Trump could put forward a tax cut before the 2020 presidential election.

“You very may well see a new rollout of additional middle-class tax relief and small-business tax relief,” Kudlow said in an interview on Fox Business Network.

Kudlow stressed that “there is nothing in the near term” because “we believe the economy is quite healthy.” “But longer run, why not?” he added.

Kudlow also confirmed to CNBC that he supported a tax cut proposal floated earlier Thursday by Sen. Rick Scott, R-Fla.

“Had a great conversation with my friend @larry_kudlow yesterday about our economy,” Scott tweeted Thursday morning.

“When we get back from recess, we should immediately start working on a plan to reduce taxes for middle-class families & workers by the amount the Treasury is collecting in tariffs,” the senator said.

In a text message, Kudlow told CNBC, “I do support the proposal” put forward by Scott in their meeting. Kudlow did not say if he had asked the president about the plan.

A spokeswoman for the Florida senator said that Scott “has not yet spoken to the president on this proposal, but is urging the Administration to start immediately cutting fees to help American families.”

Kudlow made similar comments to reporters at the White House shortly after his television interview.

Kudlow also told Fox that he still expected Chinese negotiators to meet with Trump administration officials in Washington in September to continue trade talks.

The deputies for Washington and Beijing had a “productive conference call” Wednesday, he said.

The remarks from the top economic aide came amid a week of mixed messaging from the White House about possible tax cuts and other proposals to stimulate the economy.

On Wednesday, Trump said that he’s “not looking at a tax cut now. We don’t need it.”

That statement appeared to be completely at odds with the president’s comments from just a day earlier, when he said in the Oval Office that he has “been thinking about payroll taxes for a long time.”

Less than a day before those comments, a White House official had denied that a payroll tax cut was being considered: “More tax cuts for the American people are certainly on the table, but cutting payroll taxes is not something under consideration at this time.”

And that denial came in response to The Washington Post’s report that White House officials have been floating a payroll tax cut as a way to head off a possible economic slowdown.

When asked Thursday to provide more details about the possible preelection tax cut, Kudlow said, “I don’t want to get in a lot of detail on this because, I don’t want to get ahead of the curve.”

But he did say that “the idea of some short-term payroll tax cut fix — it doesn’t work, it never works, it has no lasting impact.”

He added: “The personal tax rates could easily be lowered, and probably the brackets could be shrunk. That’s a thought.”

And “we might even kind of work through a way to help our friends in some of the state who are concerned about the shrinkage of the tax deductions there … the SALT taxes,” Kudlow said.

But he cautioned not to take those suggestions as promises. “I’m just — these are for examples, OK? For examples,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: kevin breuninger
Keywords: news, cnbc, companies, tax, white, kudlow, washington, election, scott, day, trump, house, cut, payroll, taxes, larry


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Jay Inslee running for third term as Washington governor after leaving 2020 White House race

Jay Inslee, governor of Washington and 2020 presidential candidate, pauses while speaking during an Iowa Democratic Party Hall of Fame event in Cedar Rapids, Iowa, U.S., on Sunday, June 9, 2019. Jay Inslee on Thursday launched his bid for a third term as Washington governor after he dropped out of the 2020 Democratic presidential primary. Inslee made climate change his main issue on the campaign trail and said Thursday that he would continue to press the matter as he runs for reelection. But ult


Jay Inslee, governor of Washington and 2020 presidential candidate, pauses while speaking during an Iowa Democratic Party Hall of Fame event in Cedar Rapids, Iowa, U.S., on Sunday, June 9, 2019. Jay Inslee on Thursday launched his bid for a third term as Washington governor after he dropped out of the 2020 Democratic presidential primary. Inslee made climate change his main issue on the campaign trail and said Thursday that he would continue to press the matter as he runs for reelection. But ult
Jay Inslee running for third term as Washington governor after leaving 2020 White House race Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: sunny kim
Keywords: news, cnbc, companies, race, white, trail, washington, campaign, inslee, term, climate, jay, leaving, house, governor, progressive, state, presidential, stand, running


Jay Inslee running for third term as Washington governor after leaving 2020 White House race

Jay Inslee, governor of Washington and 2020 presidential candidate, pauses while speaking during an Iowa Democratic Party Hall of Fame event in Cedar Rapids, Iowa, U.S., on Sunday, June 9, 2019.

Jay Inslee on Thursday launched his bid for a third term as Washington governor after he dropped out of the 2020 Democratic presidential primary.

“We have provided the nation a road map for innovation, economic growth, and progressive action. And we’re not done yet,” Inslee said in his announcement. “I want to continue to stand with you in opposing Donald Trump and rejecting his hurtful and divisive agenda, while strengthening and enhancing Washington state’s role as a progressive beacon for the nation.”

Inslee revealed he was dropping out of the presidential race Wednesday night on MSNBC’s “The Rachel Maddow Show.” He had announced his candidacy for the White House in March.

Inslee made climate change his main issue on the campaign trail and said Thursday that he would continue to press the matter as he runs for reelection.

“Our efforts to protect Washington’s clean air and water, invest in people’s economic security, and stand up for the values of inclusivity and diversity have created thousands of clean energy jobs and made Washington state ‘the epicenter of resistance to Trump’s agenda,'” he said.

He has adopted one of the greenest agendas in the country in his home state, signing a package of bills in May 2019 that would rid Washington of its reliance on fossil fuel-generated power by 2045.

He is a co-founder of U.S. Climate Alliance, a group of governors committed to upholding the 2015 Paris Agreement on climate change.

On the campaign trail, he called for “zero emission” electricity generation across the U.S. by 2035 and for the federal government to invest $3 trillion over a decade to upgrade buildings to create “climate-smart infrastructure.” He also pledged to decline campaign contributions from the fossil fuel industry.

In June, Rep. Alexandria Ocasio-Cortez, D-N.Y., who introduced the Green New Deal resolution in the House, called Inslee’s climate change plan the “gold standard.”

But ultimately the Washington governor failed to gain traction among voters.

He stood at just 1% support in recent polls and raised just over $3 million for the presidential campaign in the second quarter, leaving him well below the top contenders.


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: sunny kim
Keywords: news, cnbc, companies, race, white, trail, washington, campaign, inslee, term, climate, jay, leaving, house, governor, progressive, state, presidential, stand, running


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Boeing hiring hundreds of workers to maintain parked 737 Max planes

Maintenance workers cover the engine of an American Airlines Group Inc. Boeing Co. 737 Max plane outside of a maintenance hangar at Tulsa International Airport (TUL) in Tulsa, Oklahoma, U.S., on Tuesday, May 14, 2019. Boeing is hiring hundreds of temporary workers to help maintain its growing fleet of grounded 737 Max planes that are awaiting delivery. The company has posted job listings for a few hundred temporary workers who will help the company with 737 Max storage and maintenance at the Por


Maintenance workers cover the engine of an American Airlines Group Inc. Boeing Co. 737 Max plane outside of a maintenance hangar at Tulsa International Airport (TUL) in Tulsa, Oklahoma, U.S., on Tuesday, May 14, 2019. Boeing is hiring hundreds of temporary workers to help maintain its growing fleet of grounded 737 Max planes that are awaiting delivery. The company has posted job listings for a few hundred temporary workers who will help the company with 737 Max storage and maintenance at the Por
Boeing hiring hundreds of workers to maintain parked 737 Max planes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: phil lebeau, michael wayland
Keywords: news, cnbc, companies, moses, 737, max, washington, planes, maintain, lake, tulsa, parked, maintenance, company, boeing, hundreds, hiring, workers


Boeing hiring hundreds of workers to maintain parked 737 Max planes

Maintenance workers cover the engine of an American Airlines Group Inc. Boeing Co. 737 Max plane outside of a maintenance hangar at Tulsa International Airport (TUL) in Tulsa, Oklahoma, U.S., on Tuesday, May 14, 2019.

Boeing is hiring hundreds of temporary workers to help maintain its growing fleet of grounded 737 Max planes that are awaiting delivery.

The company has posted job listings for a few hundred temporary workers who will help the company with 737 Max storage and maintenance at the Port of Moses Lake east of Seattle. Boeing will not say exactly how many employees are being hired.

Boeing is seeking “avionics technicians, aircraft mechanics, airframe and Powerant (A&P) mechanics, and aircraft electricians,” according to a company spokesman.

Since aviation regulators across the world grounded the Max in March, Boeing has continued building the planes, but not delivering them. Many are parked near Boeing’s 737 plant in Renton, Washington, but dozens of other Max models have been flown to other locations where they are parked and receive daily maintenance. One of those locations of the Port of Moses Lake, an airfield next to the Grant County International Airport in Moses Lake, Washington.


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: phil lebeau, michael wayland
Keywords: news, cnbc, companies, moses, 737, max, washington, planes, maintain, lake, tulsa, parked, maintenance, company, boeing, hundreds, hiring, workers


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5 things to know before the stock market opens Monday

The Dow Jones Industrial Average surged 307 points Friday as a rebound in bond yields eased concerns about a recession. Over the weekend, President Donald Trump said he does not see a recession on the horizon. White House trade advisor Peter Navarro played down the inversion, saying “technically” it was more flat than inverted. Al Drago | Bloomberg | Getty ImagesTrump said he talked to Tim Cook about tariffs and Apple’s South Korean competitor Samsung. Last week, the White House delayed 10% tari


The Dow Jones Industrial Average surged 307 points Friday as a rebound in bond yields eased concerns about a recession. Over the weekend, President Donald Trump said he does not see a recession on the horizon. White House trade advisor Peter Navarro played down the inversion, saying “technically” it was more flat than inverted. Al Drago | Bloomberg | Getty ImagesTrump said he talked to Tim Cook about tariffs and Apple’s South Korean competitor Samsung. Last week, the White House delayed 10% tari
5 things to know before the stock market opens Monday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: matthew j belvedere
Keywords: news, cnbc, companies, trade, know, dow, market, tariffs, washington, president, trump, cook, business, stock, white, opens, house, things


5 things to know before the stock market opens Monday

1. Stock futures indicate a strong open after Friday’s 307-point Dow gain

Traders and financial professionals work at the opening bell on the floor of the New York Stock Exchange (NYSE) on August 6, 2019. Drew Angerer | Getty Images

Dow futures were pointing to a 300-point gain at Monday’s open. The Dow Jones Industrial Average surged 307 points Friday as a rebound in bond yields eased concerns about a recession. Ahead of Monday trading, the Dow was about halfway to erasing Wednesday’s 800-point plunge. The Dow, S&P 500 and Nasdaq enter the new week with three consecutive weekly losses. The Dow and Nasdaq were more than 5% below their all-time highs in July, while the S&P 500 was 4.6% off its record. However, they’re all still up double-digit percentage points for 2019.

2. Rising bond yields ease recession fears as Trump defends the economy

National Trade Council adviser Peter Navarro, second from right, accompanied by from left, President Donald Trump, Secretary of Commerce Wilbur Ross, and Vice President Mike Pence, speaks during a signing ceremony for executive orders regarding trade in the Oval Office at the White House, Friday, March 31, 2017, in Washington. Andrew Harnik | AP

Bond yields were higher Monday morning, after hitting multiyear lows last week. The 10-year Treasury yield on Wednesday briefly dipped below the 2-year yield, an inversion that tripped a historically reliable recession signal. Over the weekend, President Donald Trump said he does not see a recession on the horizon. White House trade advisor Peter Navarro played down the inversion, saying “technically” it was more flat than inverted. For a true inversion, he said on CNN, the spread would need to have been much larger.

3. Kudlow expects US to give Huawei a temporary ‘good faith’ reprieve

Larry Kudlow, director of the U.S. National Economic Council, speaks during a Bloomberg Television interview outside the White House in Washington, D.C., U.S., on Friday, Aug. 2, 2019. Andrew Harrer | Bloomberg | Getty Images

The Commerce Department is expected to extend Chinese tech giant Huawei’s licensing process for three months as a gesture of “good faith,” top Trump economic advisor Larry Kudlow told NBC’s “Meet the Press.” Later on Sunday, Trump said he does not want the U.S. to do business with Huawei, which has gotten tangled up in the U.S.-China trade war. The two nations are expected to hold face-to-face talks in Washington next month. Delegations met in Shanghai last month with little progress at resolving their disputes.

4. Apple CEO Tim Cook and Trump talk China tariffs and Samsung

U.S. President Donald Trump speaks with Tim Cook, chief executive officer of Apple Inc., during an American Workforce Policy Advisory board meeting in the State Dining Room of the White House in Washington, D.C., U.S., on Wednesday, March 6, 2019. Al Drago | Bloomberg | Getty Images

Trump said he talked to Tim Cook about tariffs and Apple’s South Korean competitor Samsung. The president said the Apple CEO made a “good case” that it would be difficult for Apple to pay tariffs when Samsung does not face the same hurdle because much of its manufacturing is in South Korea. Cook made a “very compelling argument,” Trump told reporters Sunday, revealing he and Cook had dinner on Friday evening. Last week, the White House delayed 10% tariffs on certain items, including consumer electronics such as smartphones, from next month to mid-December.

5. Shareholder value is no longer the main focus of some of America’s top business leaders

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., listens during a Business Roundtable CEO Innovation Summit discussion in Washington, D.C., U.S., on Thursday, Dec. 6, 2018. Andrew Harrer | Bloomberg | Getty Images

The Business Roundtable, a group of CEOs from major U.S. corporations, issued a statement Monday with a new definition of the “purpose of a corporation.” The re-imagined idea drops the age-old notion that corporations function first and foremost to serve their shareholders and maximize profits. Rather, investing in employees, delivering value to customers, dealing ethically with suppliers and supporting outside communities are now at the forefront of American business goals, according to the statement. Jamie Dimon, chairman and CEO of J.P. Morgan Chase, is chairman of Business Roundtable.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: matthew j belvedere
Keywords: news, cnbc, companies, trade, know, dow, market, tariffs, washington, president, trump, cook, business, stock, white, opens, house, things


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Rubenstein: Trump must cut some kind of China trade deal or risk being a one-term president

President Donald Trump needs to reach an agreement with China to end the trade war if he wants to be reelected next year, private equity billionaire David Rubenstein told CNBC on Friday. “If the China trade agreement is not resolved in some form before the election, I suspect it will not be good for those running for reelection,” Rubenstein said on “Squawk Box.” Trump also said he hopes to talk “soon” by phone with Chinese President Xi Jinping. “We don’t have to have the most comprehensive China


President Donald Trump needs to reach an agreement with China to end the trade war if he wants to be reelected next year, private equity billionaire David Rubenstein told CNBC on Friday. “If the China trade agreement is not resolved in some form before the election, I suspect it will not be good for those running for reelection,” Rubenstein said on “Squawk Box.” Trump also said he hopes to talk “soon” by phone with Chinese President Xi Jinping. “We don’t have to have the most comprehensive China
Rubenstein: Trump must cut some kind of China trade deal or risk being a one-term president Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, cut, think, kind, oneterm, president, rubenstein, chinese, risk, china, deal, talks, washington, trade, trump, agreement


Rubenstein: Trump must cut some kind of China trade deal or risk being a one-term president

President Donald Trump needs to reach an agreement with China to end the trade war if he wants to be reelected next year, private equity billionaire David Rubenstein told CNBC on Friday.

“Some agreement is better than no agreement,” said the co-founder of The Carlyle Group, a global investment firm based in Washington, with $223 billion of assets under management.

“If the China trade agreement is not resolved in some form before the election, I suspect it will not be good for those running for reelection,” Rubenstein said on “Squawk Box.”

Talking with reporters Thursday evening, Trump said that U.S. and Chinese officials have been holding “productive” talks. The president said he expects negotiators for both sides to meet as planned next month in Washington, despite 10% U.S. tariffs on $300 billion in additional Chinese imports set to take effect on Sept. 1.

Trump also said he hopes to talk “soon” by phone with Chinese President Xi Jinping. Beijing on Thursday initially said it would take tariff countermeasures, but later said it hopes to “meet the U.S. halfway.”

“We don’t have to have the most comprehensive China trade agreement of all time in order to have an agreement with China,” said Rubenstein, a political independent who says he doesn’t give money to either party. “Right now there’s uncertainty about China. Give the markets some certainty, even if it’s not comprehensive. I think the markets would respond well to it, and I think the Chinese want to make a deal.”

Neither country will make “the greatest deal, from their point of view,” Rubenstein added. He urged Trump to act in the next few months.

As trade talks had stalled in June, Rubenstein predicted a resolution by the end of the year. In January, however, he indicated that his conversations with U.S. and Chinese officials suggested a trade deal in “the next few months.”


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, cut, think, kind, oneterm, president, rubenstein, chinese, risk, china, deal, talks, washington, trade, trump, agreement


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Trump clarifies ‘personal meeting’ tweet, suggests Xi should meet Hong Kong protesters

President Donald Trump on Thursday said he has “no doubt” that Chinese President Xi Jinping could bring an end to the unrest in Hong Kong by meeting face to face with the protesters. Trump said this in a tweet Thursday morning, less than a day after he first appeared to propose that a “personal meeting” between himself and Xi could bring a speedy end to “the Hong Kong problem. ” All aspects of the U.S.-China relationship have come under intense scrutiny, as the escalating trade war between Beiji


President Donald Trump on Thursday said he has “no doubt” that Chinese President Xi Jinping could bring an end to the unrest in Hong Kong by meeting face to face with the protesters. Trump said this in a tweet Thursday morning, less than a day after he first appeared to propose that a “personal meeting” between himself and Xi could bring a speedy end to “the Hong Kong problem. ” All aspects of the U.S.-China relationship have come under intense scrutiny, as the escalating trade war between Beiji
Trump clarifies ‘personal meeting’ tweet, suggests Xi should meet Hong Kong protesters Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: kevin breuninger
Keywords: news, cnbc, companies, suggests, end, washington, clarifies, meet, chinese, personal, meeting, president, hong, kong, xi, trump, face, protesters, bring


Trump clarifies 'personal meeting' tweet, suggests Xi should meet Hong Kong protesters

President Donald Trump on Thursday said he has “no doubt” that Chinese President Xi Jinping could bring an end to the unrest in Hong Kong by meeting face to face with the protesters.

Trump said this in a tweet Thursday morning, less than a day after he first appeared to propose that a “personal meeting” between himself and Xi could bring a speedy end to “the Hong Kong problem. ”

All aspects of the U.S.-China relationship have come under intense scrutiny, as the escalating trade war between Beijing and Washington roils global markets and tensions ratchet up between mainland China and protesters in semiautonomous Hong Kong.

Trump has been criticized for taking an ambiguous stance on the Chinese government’s action in Hong Kong, where hundreds of thousands of people have taken to the streets originally to protest a divisive extradition bill supported by Beijing.

Fights have erupted at the protests, and the threat of increased violence has hovered over the demonstrations, which included storming government buildings and occupying the city’s airport.


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: kevin breuninger
Keywords: news, cnbc, companies, suggests, end, washington, clarifies, meet, chinese, personal, meeting, president, hong, kong, xi, trump, face, protesters, bring


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Bill Gates learned how to make BBQ chicken from Washington state’s Teacher of the Year

The two made BBQ chicken and talked about how Hand prepares his students for adult life. But Gates had the opportunity to pick up some new skills recently when he spent time with Robert Hand, Washington state’s Teacher of the Year. Hand teaches family and consumer science — what was once referred to as “home economics” — at Mount Vernon High School in Mount Vernon, Washington. He teaches two classes, Beginning Foods and Life After High School, and leads the school’s teacher prep program. “If we


The two made BBQ chicken and talked about how Hand prepares his students for adult life. But Gates had the opportunity to pick up some new skills recently when he spent time with Robert Hand, Washington state’s Teacher of the Year. Hand teaches family and consumer science — what was once referred to as “home economics” — at Mount Vernon High School in Mount Vernon, Washington. He teaches two classes, Beginning Foods and Life After High School, and leads the school’s teacher prep program. “If we
Bill Gates learned how to make BBQ chicken from Washington state’s Teacher of the Year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: abigail hess
Keywords: news, cnbc, companies, states, chicken, teacher, washington, bbq, life, learned, bill, hand, gates, school, skills, teaching, teaches, students, vernon, high


Bill Gates learned how to make BBQ chicken from Washington state's Teacher of the Year

“You’ve got a very entry-level student here,” Gates told Hand, as the teacher showed him how to prepare BBQ using a whole bird — legs, wings and thighs — to keep costs down.

The two made BBQ chicken and talked about how Hand prepares his students for adult life.

But Gates had the opportunity to pick up some new skills recently when he spent time with Robert Hand, Washington state’s Teacher of the Year. Hand teaches family and consumer science — what was once referred to as “home economics” — at Mount Vernon High School in Mount Vernon, Washington. He teaches two classes, Beginning Foods and Life After High School, and leads the school’s teacher prep program.

He is not, however, a chef — or even confident in the kitchen. “I never really learned how to cook,” Gates wrote in a recent blog post . “It just wasn’t something I was taught growing up.”

But the chicken recipe aside, it was Hand’s experience teaching “Life After High School,” a course where high school seniors learn practical life skills like writing resumes and cover letters, applying and interviewing for jobs, personal budgeting, securing a loan and paying taxes, that Gates was most interested in learning about.

“We always start with career preparation. We talk about filling out applications, how to be professional and to put your best foot forward, writing resumes and cover letters. I teach them interview skills,” said Hand. “Then we kind of transition from that to like, well, let’s assume you got the job. Now, you’re going to have a paycheck, so we talk about how to balance a budget so that you’re meeting your life goals with what your budget is.”

Approximately 60% of Mount Vernon students come from low-income families, so Hand also maintains a stocked food pantry for hungry students and takes students to a local thrift store to buy suits for job interviews.

“I think students are thirsty for knowledge and love in equal parts, so I ask myself every day, ‘Is what I’m doing today going to make students feel welcome and loved,?” said Hand. “Because teaching is hard, but growing up is harder.”

This practice of teaching practical life skills with empathy stood out to Gates.

“It takes a special kind of educator to get kids excited about filing their taxes! The skills he teaches are essential for any student, whether they plan on going to college, vocational school, or straight into the workforce,” writes Gates. “If we want to give our kids the best chance possible to succeed after high school, we need more amazing teachers like Robert.”

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Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: abigail hess
Keywords: news, cnbc, companies, states, chicken, teacher, washington, bbq, life, learned, bill, hand, gates, school, skills, teaching, teaches, students, vernon, high


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Dow futures higher after China fixes yuan at stronger-than-expected level

U.S. stock index futures were higher Monday morning, after China’s central bank set the official midpoint reference for the yuan at a stronger-than-expected level. Market focus is largely attuned to simmering trade tensions between the world’s two largest economies. Market participants have been monitoring the dollar/yuan exchange rate closely following an escalation in trade tensions between Washington and Beijing. The yuan depreciated past the 7-per-dollar level last week for the first time si


U.S. stock index futures were higher Monday morning, after China’s central bank set the official midpoint reference for the yuan at a stronger-than-expected level. Market focus is largely attuned to simmering trade tensions between the world’s two largest economies. Market participants have been monitoring the dollar/yuan exchange rate closely following an escalation in trade tensions between Washington and Beijing. The yuan depreciated past the 7-per-dollar level last week for the first time si
Dow futures higher after China fixes yuan at stronger-than-expected level Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: sam meredith
Keywords: news, cnbc, companies, strongerthanexpected, washington, china, report, higher, futures, trade, tensions, weaker, president, level, set, yuan, dow, fixes


Dow futures higher after China fixes yuan at stronger-than-expected level

U.S. stock index futures were higher Monday morning, after China’s central bank set the official midpoint reference for the yuan at a stronger-than-expected level.

At around 02:30 a.m. ET, Dow futures rose 46 points, indicating a positive open of more than 55 points. Futures on the S&P and Nasdaq were both slightly higher.

Market focus is largely attuned to simmering trade tensions between the world’s two largest economies.

On Monday, the People’s Bank of China (PBOC) set its daily midpoint for yuan trading — which determines the limits for its onshore movement — at 7.0211 per dollar. That was weaker than Friday’s session, but beat market expectations.

Market participants have been monitoring the dollar/yuan exchange rate closely following an escalation in trade tensions between Washington and Beijing.

The yuan depreciated past the 7-per-dollar level last week for the first time since the global financial crisis in 2008. The move prompted the U.S. Treasury Department to designate China as a currency manipulator.

A weaker currency makes a country’s exports cheaper and President Donald Trump’s administration has consistently complained that a cheaper yuan would give China a trade advantage.

The U.S. president said Friday that the U.S. would continue to hold trade talks with Beijing, but that Washington was not prepared to make a deal for now.

On the data front, the Federal Budget for July is expected to be published at around 2:00 p.m. ET.

In corporate news, Sysco and Barrick Gold are both expected to publish quarterly earnings before the opening bell.

Bloom Energy and Tencent Music will report their latest results after market close.

— CNBC’s Saheli Roy Choudhury contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: sam meredith
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Chip stocks drop after US reportedly delays licenses for companies to restart sales to Huawei

President Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington, D.C., U.S., on Wednesday, Aug. 7, 2019. President Donald Trump last month agreed to give “timely licensing decisions” to allow a slew of tech companies including Google and Broadcom to sell to the Chinese telecom giant. But the latest escalation in the trade war made the administration reconsider the move, Bloomberg said, citing people familiar with the matter. Chi


President Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington, D.C., U.S., on Wednesday, Aug. 7, 2019. President Donald Trump last month agreed to give “timely licensing decisions” to allow a slew of tech companies including Google and Broadcom to sell to the Chinese telecom giant. But the latest escalation in the trade war made the administration reconsider the move, Bloomberg said, citing people familiar with the matter. Chi
Chip stocks drop after US reportedly delays licenses for companies to restart sales to Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: yun li
Keywords: news, cnbc, companies, sales, stocks, trump, drop, week, washington, companies, chip, white, restart, licenses, donald, unseen, war, yuan, huawei, bloomberg, trumps, delays, reportedly


Chip stocks drop after US reportedly delays licenses for companies to restart sales to Huawei

President Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington, D.C., U.S., on Wednesday, Aug. 7, 2019.

The U.S. is putting its decision to relieve Huawei on hold after China suspended its purchase of U.S. agricultural products, according to a Bloomberg News report.

President Donald Trump last month agreed to give “timely licensing decisions” to allow a slew of tech companies including Google and Broadcom to sell to the Chinese telecom giant. But the latest escalation in the trade war made the administration reconsider the move, Bloomberg said, citing people familiar with the matter.

China decided to stop buying American crops in retaliation for Trump’s surprise tariffs threat last week. It also allowed its currency, the yuan, to drop against the dollar to a key level unseen since 2008.


Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: yun li
Keywords: news, cnbc, companies, sales, stocks, trump, drop, week, washington, companies, chip, white, restart, licenses, donald, unseen, war, yuan, huawei, bloomberg, trumps, delays, reportedly


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Trump says he’ll call Congress back to Washington if GOP and Dems get ‘close’ on gun reform plan

US President Donald Trump speaks to the press as he departs the White House in Washington, DC, on August 7 2019. And let’s say all good people, but two sides are very different,” Trump told reporters outside the White House. “I’m looking to do background checks, I think background checks are important,” he said. He added that “I think both Republicans and Democrats are getting close” to “doing something on background checks.” Neither a spokesman for McConnell nor the White House immediately resp


US President Donald Trump speaks to the press as he departs the White House in Washington, DC, on August 7 2019. And let’s say all good people, but two sides are very different,” Trump told reporters outside the White House. “I’m looking to do background checks, I think background checks are important,” he said. He added that “I think both Republicans and Democrats are getting close” to “doing something on background checks.” Neither a spokesman for McConnell nor the White House immediately resp
Trump says he’ll call Congress back to Washington if GOP and Dems get ‘close’ on gun reform plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: kevin breuninger, jessica bursztynsky
Keywords: news, cnbc, companies, plan, white, congress, reform, washington, background, dems, president, house, texas, checks, senate, gun, trump, close, gop, hell


Trump says he'll call Congress back to Washington if GOP and Dems get 'close' on gun reform plan

US President Donald Trump speaks to the press as he departs the White House in Washington, DC, on August 7 2019.

President Donald Trump on Wednesday said that he will bring lawmakers back to Washington from their August recess if Republicans and Democrats can “get close” on a gun reform proposal.

Trump, en route to visit the Ohio and Texas cities in which back-to-back mass shootings over the weekend left 31 dead, also pledged his support for background checks and “red flag” laws preventing mentally ill people from accessing firearms.

“We’re going to see where we are. We’re dealing with leadership right now. And you know, you have two sides that are very different on this issue. And let’s say all good people, but two sides are very different,” Trump told reporters outside the White House.

“If we get close, I will bring them back, but it has to be — you know, we have to see where we are with leadership. Normally, this has been really a decision — Congress gets together and they try to do something, but if you look over the last 30 years, not a lot has been done,” Trump said.

The president and first lady Melania Trump were traveling to Dayton, Ohio, and El Paso, Texas, to meet with first responders, survivors and victims’ families following the two deadly mass shootings. Some Democrats, including presidential candidates such as former Texas Rep. Beto O’Rourke, have said that Trump’s rhetoric bears at least some of the blame for the shootings.

Trump tweeted in response that O’Rourke “should respect the victims & law enforcement – & be quiet!”

A gunman toting an AK-47-style assault rifle and extra magazines of ammunition killed 22 people and injured dozens more at an El Paso Walmart on Saturday morning, after apparently posting a racist screed on an anonymous online messaging board. Police have detained suspect Patrick Crusius, a 21-year-old white male.

The Dayton gunman, armed with an AR 15-style rifle, killed nine people in an entertainment district hours later, including his own sister. That shooter, identified as 24-year-old Connor Betts, was killed by officers less than a minute after his attack began, police said.

Trump told reporters Wednesday that he supported background checks for gun purchases.

“I’m looking to do background checks, I think background checks are important,” he said. “I don’t want to put guns into the hands of mentally unstable people or people with rage or hate, sick people. I’m all in favor of it.”

He added that “I think both Republicans and Democrats are getting close” to “doing something on background checks.”

In fact, the Democrat-led House passed a gun control bill that would strengthen background checks months earlier, but Senate Majority Leader Mitch McConnell has not brought the legislation to the Senate for a vote.

In a statement Monday, McConnell said that “Only serious, bipartisan, bicameral efforts will enable us to continue this important work and produce further legislation that can pass the Senate, pass the House, and earn the president’s signature. Partisan theatrics and campaign-trail rhetoric will only take us farther away from the progress all Americans deserve.”

Neither a spokesman for McConnell nor the White House immediately responded to CNBC’s inquiries about the president’s comments.

Many Republicans have signaled their support for red flag laws, also known as extreme risk protection orders. But Senate Minority Leader Chuck Schumer, D-N.Y., said in a statement Wednesday that without “strong universal background checks” in place, red flag laws alone “won’t be fully effective.”

“The notion that passing a tepid version of an Extreme Risk Protection Order (ERPO) bill—alone—is even close to getting the job done in addressing rampant gun violence in the U.S. is wrong and would be an ineffective cop out,” Schumer said.

Trump also said there was no “political appetite” for legislation to ban assault weapons. A federal assault weapons ban had been signed into law in 1994 by President Bill Clinton, but was allowed to expire in 2004 under President George W. Bush.


Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: kevin breuninger, jessica bursztynsky
Keywords: news, cnbc, companies, plan, white, congress, reform, washington, background, dems, president, house, texas, checks, senate, gun, trump, close, gop, hell


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