Showing posts with label CNBC. Show all posts
Showing posts with label CNBC. Show all posts

Friday, June 26, 2015

The State Skills Gap: Who's Got Talent?

By Scott Cohn, Jun. 25, 2015, CNBC

More than 9 million Americans are unemployed, according to the Labor Department, and many more are underemployed. Yet in a recent studyby CareerBuilder, more than half of the employers surveyed said they had open positions for which they could not find a qualified applicant. It's not that those workers don't exist somewhere, the experts say. It's just that they're not necessarily located near the employers who want to hire them.

Experts have a term for this mismatch between jobs and the people to fill them: the skills gap. And it's a big reason that the new prime battleground among America's Top States for Business—and every other state for that matter—is which state offers the best workforce.

But what makes a good workforce? Having plenty of available people is a start, but only a start.

"Beyond measuring labor supply and demand indicators, assessing a region's degree of skill-set specialization is critical in order to effectively scale operations to the desired headcount," wrote site-selection consultant Keith Gendreau of Cushman & Wakefield in the trade publication "Area Development" this year.

It's a long and fancy way of saying that you can't close the skills gap without ... well, skills.


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Saturday, June 20, 2015

Mexico To Donald Trump: You Are One ‘Ignorant,' 'Prejudiced' Hombre 

By Ioan Grillo, Jun. 19, 2015, CNBC

While billionaire Donald Trump is an expert in the world of business, it looks like he has a steep learning curve when it comes to diplomacy.

By just declaring his intention to run for president Wednesday, he managed to start a minor spat with Mexico.

To rocking guitar music, the white-haired, red-faced tycoon slammed migrants and promised to build a wall—and have Mexico pay for it.

"They are not our friend, believe me … When Mexico sends its people, it is not sending its best," Trump said. "They're sending people that have lots of problems, and they're bringing those problems with us. They're bringing drugs. They're bringing crime. They're rapists."


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Ex-RNC Chief: Trump 2016 Worries GOP Establishment 

By Matthew J. Belvedere, Jun. 19, 2015, CNBC

Donald Trump's entrance this week into the GOP presidential race could prove to be a liability for the party, former Republican National Committee Chairman Michael Steele said Friday.

"I don't think he ultimately wins, but he does change the nature of the conversation. And one of the challenges the GOP field will have will be allowing Donald Trump to dominate what the topics of discussion are," Steele told CNBC's "Squawk Box."

Trump drew criticism for certain remarks he made during Tuesday's announcement speech, particularly when he referred to Mexican immigrants as "bringing drugs, they're bringing crime, they're rapists, and some, I assume, are good people."


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Marc Faber: Recession Is Coming This Year

By Alex Rosenberg, Jun. 18, 2015, CNBC

Markets appeared to sigh in relief after the Federal Reserve got no closer to raising rates in its latest policy statements, but Marc Faber said there should be no need to worry about any interest rate increase.

"I doubt they would increase rates this year. I think they'll keep rates at essentially zero," Faber said Wednesday in a "Trading Nation" interview. "[Fed Chair Janet] Yellen said very clearly that the rate hikes are data-dependent, and data is globally getting worse, it's not getting any better."

To Faber's mind, America is in dire straits.

"I don't think the U.S. economy is doing particularly well," the editor and publisher of the Gloom, Boom & Doom Report said. "One of the problems is affordability, and cost-of-living increases. For most households, the cost of living has gone up very substantially and so their spending power is limited. In addition to that if you look at tax revenues in the U.S., corporate tax as a percent of GDP is essentially flat. However, what has gone up a lot as a percent of GDP is individual taxes, so it has some negative impact on the economy."

More: www.cnbc.com


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Ron Paul: Stock Market 'Day Of Reckoning' Is Near 

By Amanda Diaz, Jun. 19, 2015, CNBC

Despite record highs in the market, former Rep. Ron Paul says the Fed's easy money policies have left stocks and bonds are on the verge of a massive collapse.

"I am utterly amazed at how the Federal Reserve can play havoc with the market," Paul said on CNBC's "Futures Now" referring to Thursday's surge in stocks. The S&P 500 closed less than 1 percent off its all-time high. "I look at it as being very unstable."

In Paul's eyes, "the fallacy of economic planning" has created such a "horrendous bubble" in the bond market that it's only a matter of time before the bottom falls out. And when it does, it will lead to "stock market chaos."


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Wednesday, June 17, 2015

Russia Warns Of 'New Military Confrontation' In Europe

Reuters
By Holly Ellyatt, Jun. 16, 2015, CNBC

Russia-West relations took a downturn this week when Moscow warned that any stationing of military equipment along its border with Europe could have "dangerous consequences" and President Vladimir Putin announced that Russia would add more than 40 ballistic missiles to its nuclear arsenal this year.

At a military and arms fair on Tuesday, Putin announced the addition of the intercontinental ballistic missiles which, he said, were able to overcome "even the most technically advanced anti-missile defense systems."

After the announcement, Jens Stoltenberg, the secretary-general of the North Atlantic Treaty Organization (NATO), said that Putin's statement was one reason why the international military alliance was upping its deterrence measures.

The Russian Foreign Ministry issued its warning on Monday against military presence on its western border after the New York Times and other media organizations reported that the U.S. had offered to store military equipment for up to 5,000 troops—including battle tanks and heavy weapons—in allied eastern European countries.


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Friday, June 12, 2015

Gas And Food Surge Sends May Prices On A Tear

By CNBC/Reuters, Jun. 11, 2015

U.S. producer prices in May recorded their biggest increase in more than 2-1/2 years as the cost of gasoline and food rose, suggesting that an oil-driven downward drift in prices was nearing an end.

The Labor Department said on Friday its producer price index for final demand increased 0.5 percent last month, the largest gain since September 2012. That followed a 0.4 percent decline in April.

In the year to May, the PPI fell 1.1 percent, marking the fourth straight 12-month decrease. Prices dropped 1.3 percent in the 12 months through April, the biggest fall since 2010.

Economists had forecast the PPI rising 0.4 percent last month and falling 1.1 percent from a year ago.

A sharp decline in crude oil prices since last year and a strong dollar have weighed on producer prices. While rising oil prices are easing some of the downward pressure on inflation, the upward trend in producer prices will be gradual because of the dollar's strength.


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Friday, June 5, 2015

US Nonfarm Payrolls Total 280,000 In May Vs. 225,000 Est.; Unemployment Rate At 5.5%

By Jeff Cox, Jun. 4, 2015, CNBC

The U.S. economy created 280,000 jobs in May, better than expected and likely confirming hopes that growth is back on track after a slow start to the year.

The headline unemployment rate increased slightly to 5.5 percent as the labor force participation rate ticked higher to 62.9 percent. ( Tweet This ) A separate measure that counts those working part time for economic reasons and the unemployed who have not looked for work in the past month held steady at 10.8 percent.

Wages also showed growth, rising 8 cents an hour, equating to an annualized increase of 2.3 percent.

Economists had been expecting a gain of 225,000 positions and the unemployment rate holding steady at 5.4 percent.


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Tuesday, June 2, 2015

Elon Musk: Incentives Not Necessary, But Helpful

By Reem Nasr, Jun. 1, 2015, CNBC

Tesla CEO Elon Musk said Monday that a Los Angeles Times articleclaiming his companies received government subsidies is incorrect.(Tweet This)

"The article makes it seem as though my company is getting some huge check, which is fundamentally false," he told CNBC's "Power Lunch."

According to the article, Musk's three companies, Tesla, SolarCity and SpaceX, "have benefited" from a total of about $4.9 billion in government subsidies. Musk said that the article was misleading and did not accurately portray the situation.

Shares of Tesla were down slightly in late trading Monday.


Musk said that "none of the incentives are necessary, but they are all helpful," referencing incentive packages some of his companies received to build factories in states like Nevada. He said that the reason these incentives exist is because "voters want a particular thing to happen, and faster than it might otherwise occur."

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Sunday, May 31, 2015

'How's Hillary Doing? Wish We Could Tell You' 

Inside Hillary's 2026 HQ / CNBC
By John Harwood, May 29, 2015, CNBC

I've been inside Hillary Clinton's national campaign headquarters in Brooklyn.

I've talked with "senior officials" about her bid for the White House. They sat in these chairs.

An office room inside Hillary Clinton's campaign headquarters.

Wish I could tell you more. But they said very little.

Notice that I typed very little and not "very little," because under the ground rules of Thursday's briefing reporters were not allowed to quote their words directly.

You're not missing much.

The former secretary of state plans to kick off the heavy-rhetoric stage of her campaign on June 13. I can't say where or what time because the senior officials wouldn't say.

She plans to lay out some policy proposals after that. Can't say which ones.

She'll take questions from reporters. Can't say how often.
She'll start having rallies. Not too many, because the election's a long way away. But some.

She might take a summer vacation, which means reporters covering her can, too. Don't know when, but one senior official observed that summer vacations traditionally occur in mid-August.


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Thursday, May 21, 2015

Why The US Can't Shake Off The Great Recession

By Daniel Alpert, May 20, 2015, CNBC

Ever since the Great Recession, the first quarter has brought with it dramatically lower economic activity in the U.S., resulting in significant downgrades to annual growth forecasts. This year was no different, and now we are seeing strong evidence that this year's slump threatens to move beyond the winter months.

Many have characterized the U.S. economy's inability to grow robustly as an expected after-effect of a severe cyclical downturn. Such interpretation is well past its sell-by date. It's time to recognize that globalization has brought with it issues that defy cyclical economic prescriptions. We need to move beyond wishing that this monumental shift can be resolved by conventional measures and form a consensus leading to more effective policy.


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Wednesday, May 20, 2015

40 percent Of Unemployed Have Quit Looking For Jobs

By Jeff Cox, May 20, 2015, CNBC

At a time when 8.5 million Americans still don't have jobs, some 40 percent have given up even looking.

The revelation, contained in a new survey Wednesday showing how much work needs to be done yet in the U.S. labor market, comes as the labor force participation rate remains mired near 37-year lows.

A tight jobs market, the skills gap between what employers want and what prospective employees have to offer, and a benefits program that, while curtailed from its recession level, still remains obliging have combined to keep workers on the sidelines, according to a Harris poll of 1,553 working-age Americans conducted for Express Employment Professionals.

On the bright side, the number is actually better than 2014, the survey's inaugural year, when 47 percent of the jobless said they had given up.


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Thursday, May 7, 2015

CNBC Poll--Hillary Favorite Among Millionaires

By Rober Frank, May 6, 2015, CNBC

Hillary Clinton is the favorite U.S. presidential candidate among millionaire voters and would win a head-to-head contest with former Florida Governor Jeb Bush, according to the third CNBC Millionaire Survey conducted in March that was released today.

The survey, which polls 750 Americans with a net worth of $1 million or more, found that 53 percent of millionaires would vote for the Democratic ex-Secretary of State, compared with 47 percent for the GOP presidential hopeful, in a hypothetical general-election match-up. Clinton had the support of 91 percent of Democratic millionaires, 13 percent of Republican millionaires and 57 percent of Independent millionaires. (Tweet this)

When asked about the broader field of candidates, Clinton got the most support, with 36 percent of millionaires. Jeb Bush came in second with 20 percent, followed by Senator Elizabeth Warren (D-Mass.) with 8 percent, and Governor Chris Christie (R-N.J.) with 7 percent.

Within the broader field, Republican candidates received a total of 49 percent of the vote, suggesting that the race could tighten as Republicans coalesce around a single candidate.


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Saturday, April 4, 2015

US Added 126K Jobs In March 

Screen grab via CNBC
Jeff Cox, Apr. 3, 2015, CNBC.com 

The sputtering U.S. economy created just 126,000 jobs in March as bad weather, weak consumer spending and flailing corporate profits resulted in the worst report since December 2013.

Economists expected nonfarm payrolls to rise 245,000 in March, with the unemployment rate holding steady at 5.5 percent, according to Reuters. February's numbers were revised lower to 264,000 from the initially reported 295,000, while January's number fell from 239,000 to 201,000.

The total fell well short of the 269,000 average over the past year and was the first time in 14 months that the number dropped below 200,000.


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Wednesday, April 1, 2015

This Fast Food Ban Hasn't Cut Obesity: Study 

By Katie Little, Mar. 19, 2015, CNBC

Fast food often catches a lot of criticism for being caloric and contributing to weight gain. So what happens when a city tries to restrict fast food openings in poorer areas in hopes of reducing obesity?

The obesity level actually fails to drop, according to a new study from the non-profit RAND Corporation that was funded by the National Institute of Health.


Read the full story:  www.cnbc.com

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Friday, February 27, 2015

Greenspan: ‘The Stock Market Is Great, The Economy Is Not’



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Thursday, January 29, 2015

McDonald's CEO Don Thompson Steps Aside, Stock Jumps


By Kattie Little, Jan. 28, 2015, Cnbc.com

Amid a tumultuous past year for McDonald's, the world's biggest restaurant chain's CEO Don Thompson is retiring after two years on the job, effective March 1. The fast food is also getting a new CFO.

The restaurant's Senior Executive Vice President and Chief Brand Officer Steve Easterbrook will replace Thompson, who is a 25-year veteran of the company, the company announced on Wednesday.

Previously, Easterbrook served as president of McDonald's Europe and led the chain's "efforts to elevate its marketing, advance menu innovation, and create an infrastructure for its digital initiatives," it said in a release. The company's CFO Pete Bensen will also transition to the role of chief administrative officer while Kevin Ozan, the company's current corporate controller, will become the chain's new CFO.

On Friday, the company delivered its latest update on its continuing U.S. turnaround, ongoing problems in Asia and the currency headwinds it faces.


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Thursday, October 9, 2014

Jay Leno Nears Deal To Launch CNBC Show (Exclusive)

Jay Leno
By Matthew Belloni, Oct. 10, 2014, Hollywoodreporter.com

Jay Leno is lining up his first regular television hosting gig since leaving The Tonight Show in February, and he's staying in the NBCUniversal family.

Leno is close to a deal to host a new show for cable network CNBC, sources tell The Hollywood Reporter. The show will focus on Leno's longtime love of cars and will air in primetime, not late night.

Landing Leno is a coup for CNBC. The network, known for financial news, has been trying to broaden its viewership by airing reality shows like The Profit and Restaurant Startup in primetime. Its biggest draw is reruns of financial game show Shark Tank, which have performed very well for the network.

Read more THR Cover Story: Jay Leno's Exit Interview

Leno, 64, has been looking for the right home since he passed theTonight Show baton to Jimmy Fallon before the Winter Olympics in February. Sources say he was courted by several outlets, including CNN, A&E, History and the Tribune stations. But Leno has been loyal to NBC (his car-themed web series Jay's Garage is still hosted on NBC.com), and he has a relationship with CNBC president Mark Hoffman. CNBC aired a Jay's Garage special over the Labor Day weekend called Jay's Garage: The Ultimate Car Week.


Read the full story:  www.hollywoodreporter.com

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Thursday, August 28, 2014

Two Market Experts Warn Correction Could Be 60 Percent

Matthew J. Belvedere and Everett Rosenfeld, Aug. 27, Cnbc.com

Markets could soon face a fall of up to 60 percent, two experts told CNBC on Wednesday.

A jolt to international confidence in central banks will lead to a 30 to 60 percent market decline, David Tice, president of Tice Capital and founder of the Prudent Bear Fund, told CNBC's "Power Lunch." When this happens, he said, markets will face a "period of extreme turmoil."

This crash will be precipitated, he said, by a disillusionment with the Federal Reserve's "confidence game," which will then see inflation rise, and the Fed scramble to raise rates. At that point, Tice added, "the Fed starts to lose control."

Another market watcher also called for an impending fall.

The Fed's low interest rates could bring a "scary" 50-60 percent market correction, said technical analyst Abigail Doolittle.

Markets could soon face a fall of up to 60 percent, two experts told CNBC on Wednesday.

A jolt to international confidence in central banks will lead to a 30 to 60 percent market decline, David Tice, president of Tice Capital and founder of the Prudent Bear Fund, told CNBC's "Power Lunch." When this happens, he said, markets will face a "period of extreme turmoil."

This crash will be precipitated, he said, by a disillusionment with the Federal Reserve's "confidence game," which will then see inflation rise, and the Fed scramble to raise rates. At that point, Tice added, "the Fed starts to lose control."

Another market watcher also called for an impending fall.

The Fed's low interest rates could bring a "scary" 50-60 percent market correction, said technical analyst Abigail Doolittle.

"Unfortunately, I think it could come on a crash similar to what happened in 2007," Doolittle, the founder of Peak Theories Research, said on "Squawk Box" a day after the S&P 500 closed above the 2,000 level for the first time ever. "It's tough to know what the exact catalyst will be. But that's the very nature of that kind of selloff. They start slowly and then happen very suddenly."


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Friday, July 25, 2014

Israelis Rush To Apps In Gaza Conflict

Israeli Air Force F15I, Gaza
Source:  www.cryptome.org
By Katy Barnato, Jul. 24, Cnbc.com

Diplomatic pressure for a ceasefire in the Gaza strip has intensified over the past few days, in an attempt to stem bloodshed from the latest bout of the Israel-Palestine conflict.

More than 600 Palestinians and up to 31 Israelis had been killed in the past two weeks of fighting, officials say. Gaza's health ministry, which issued the Palestinian death toll, also said that 3,640 people had been injured, news agencies reported.

Israeli-Palestinian violence flared up in late June after the kidnap and murder of three Israeli teenagers in the West Bank, and the subsequent kidnap and killing of a Palestinian teenager from East Jerusalem in early July.

The current conflict has seen increasing bloodshed and fierce fighting. Amid all this, Israelis have used smartphones, mobile applications and telecoms technology in an attempt to minimize civilian casualties.

Here's a quick look at some of the civilian tech used in the current Gaza conflict.


Read the full story:  www.cnbc.com

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