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The meetings behind the meetingThousands of global leaders have once again descended on snowy Davos, Switzerland, for the World Economic Forum’s annual meeting. The theme of this year’s event: “rebuilding trust.”But there are the public meetings, and then there are the real ones behind closed doors that the attendees are talking about most. These include discussions touching on U.S.-China tensions, the war in Gaza, artificial intelligence and the future of Ukraine. If the answer is zero, you’ve won. Top U.S. officials are set to appear on the main stage, including Secretary of State Antony Blinken and Jake Sullivan, the national security adviser.
Persons: you’ve, Antony Blinken, Jake Sullivan Organizations: Center, U.S Locations: Davos, Switzerland, China, Gaza, Ukraine
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRoughly 30 minutes after the Iowa Republican caucuses began, most major media outlets called the race for former President Donald Trump, who had long been viewed as the heavy favorite in the Midwestern state. "Absolutely outrageous that the media would participate in election interference by calling the race before tens of thousands of Iowans even had a chance to vote," Romeo wrote on X. "The media is in the tank for Trump and this is the most egregious example yet." AdvertisementThe second and third-place finishers in Iowa have yet to be determined, but DeSantis and Haley are neck-and-neck as the results continue to be reported across the state.
Persons: , Donald Trump, Ron DeSantis, Andrew Romeo, Romeo, DeSantis, Nikki Haley, who's, Haley Organizations: Service, Iowa Republican, Business, Florida Gov, Trump, Hawkeye State Locations: Midwestern, Florida, Iowa, New Hampshire, Hawkeye
Secretary of State Antony Blinken said Tuesday that China's growing aggression toward Taiwan has undermined the country's own interests. "I think the approach that they've shown in recent years has actually been totally counterproductive to their interests," Blinken said at the World Economic Forum in Davos, Switzerland on CNBC's "Squawk on the Street." Blinken's comments come days after Taiwan voters elected the Democratic Progressive Party's Lai Ching-te to serve as the next president. In the weeks leading up to the election, Taiwan officials reported several attempts by the Chinese government to sway the election via escalating military pressure and disinformation campaigns. At Davos, Blinken reiterated the official U.S. stance on Taiwan and China, which simultaneously supports Taiwan's democratic systems but does not support its independence.
Persons: Antony Blinken, CNBC's Andrew Ross Sorkin, Blinken, Party's Lai Ching, Lai, Joe Biden's, Xi Jinping, we've Organizations: State, Economic, Taiwan, Democratic, White Locations: U.S, Davos, Switzerland, Taiwan, CNBC's, China, Beijing, China's Taiwan
Israeli Prime Minister Benjamin Netanyahu has said Israel will not consider the war against Hamas finished until the border between Egypt and Gaza is closed. Israeli officials have not decided exactly how they would proceed with closing Gaza’s border with Egypt, according to Netanyahu — but doing so would signify a renewed Israeli control over the enclave not seen in years, and a blow to Palestinians’ limited sovereignty in Gaza. The border crossing with Egypt, at the town of Rafah, is the only crossing point not controlled by Israel, though it has still been subject to limited access and lengthy Egyptian bureaucratic and security processes. As the war enters its 100th day, the main United Nations agency operating in Gaza issued a stark warning that famine will spread across the enclave if more supplies are not allowed into the strip. These are the biggest updates you need to know for Sunday:
Persons: Benjamin Netanyahu, Netanyahu — Organizations: Hamas, United Nations Locations: Israel, Egypt, Gaza, Rafah
John Kerry at last month’s climate conference in Dubai, United Arab Emirates. Photo: Fadel Dawod/Getty ImagesWASHINGTON— John Kerry is stepping down as the president’s special envoy for climate by this spring, according to a person familiar with the decision. The change comes weeks after Kerry, 80, played a key role during a recent climate conference in Dubai, helping to forge a compromise among nearly 200 countries aimed at reducing fossil fuels.
Persons: John Kerry, Fadel, WASHINGTON — John Kerry, Kerry Organizations: Getty, WASHINGTON Locations: Dubai, United Arab Emirates
The US military launched further strikes on the Houthi rebels in Yemen overnight Friday into Saturday local time, taking out a radar site after striking nearly 30 locations Thursday evening in a joint US-UK effort. US President Joe Biden said he ordered the strikes "in direct response" to the rebels' attacks on commercial shipping vessels in the Red Sea, which the group says are aimed at pressuring Israel into ceasing its heavy bombardment of Gaza. US Ambassador to the United Nations Linda Thomas-Greenfield told the UN Security Council Friday the strikes were intended to "restore stability in the Red Sea," despite repeated warning from the Houthis of retaliation — and fears of the conflict in Gaza further spreading throughout the Middle East. Here's what else you need to know today:
Persons: Joe Biden, United Nations Linda Thomas, Greenfield Organizations: US, Israel, United Nations, UN Locations: Yemen, Red, Gaza
Now the company plans to go big on the business of investing in airports, bridges, oil pipelines and more. Alongside announcing its quarterly earnings, the firm said on Friday that it would acquire Global Infrastructure Partners for about $12.5 billion in cash and stock. The deal is BlackRock’s biggest takeover since 2009, when it bought Barclays Global Investors for $13.5 billion and became the world’s biggest provider of index funds. It’s a major bet by BlackRock on infrastructure, in which financial firms invest in, or take over and run, assets like tunnels, highways, and oil and gas networks. “Policymakers are only just beginning to implement once-in-a-generation financial incentives for new infrastructure technologies and projects,” Larry Fink, BlackRock’s chairman and C.E.O., said in a statement.
Persons: ” Larry Fink Organizations: Global Infrastructure Partners, Barclays Global Investors, BlackRock Locations: BlackRock, It’s
Tiger Woods splits with Nike
  + stars: | 2024-01-08 | by ( Jordan Hart | Madeline Berg | Meredith Cash | ) www.businessinsider.com   time to read: +4 min
Tiger Woods and Nike are splitting up. Woods thanked the Nike cofounder Phil Knight in his statement on the departure. Woods and his son, Charlie Woods, sport matching Nike apparel at the 2022 PNC Championship. AdvertisementDespite the incredibly lucrative nature of its deal with Woods, Nike has increasingly moved out of the golf business in recent years. Andrew Redington/Getty ImagesKnight's company has continued selling golf clothing and shoes — including Woods' apparel line — in the years since.
Persons: Tiger Woods, Woods, Phil Knight, , he's, Forbes, Charlie Woods, Mike Ehrmann, Knight —, Andrew Redington Organizations: Nike, Service, Business, Oregonian, Carnegie Mellon, Riviera Country Club Locations: Los Angeles, LA
Executive 2: Bob Iger will, again, extend his contract as Disney CEO Earlier this year, Disney CEO Bob Iger renewed his contract through 2026. This executive predicted "fool me five times, shame on me." This executive predicted Peltz and Rasulo will win their campaign and both join the board. This person predicted Disney would purchase privately held Candle Media to acquire Moonbug Entertainment, the owner of CoComelon. This executive predicted Yaccarino would either lose patience or find her job increasingly pointless and leave the company in 2024.
Persons: Andrew Ross Sorkin, Walt Disney Company Bob Iger, Michael M, David Zaslav, Slaven Vlasic, NBCUniversal, Brian Roberts, Roberts, Donna Langley, Bob Iger, Iger, Nelson Peltz, Jay Rasulo, Marco Bello, Peltz, Rasulo, Disney's, Dana Walden, Dana Walden Jason Laveris, Disney Entertainment Dana Walden, Walden, Bob Chapek, Andrew Wilson, Wilson, Chris Licht wouldn't, McCarthy, Andrew Wilson Michael Newberg, Kevin Mayer, Mayer, Bryan van der Beek, Tom Staggs, Staggs, Jayson Tatum, Kyle Terada, NBCUniversal's Peacock, Alec Martinez, Gray, Discovery's Max, Jeff Zucker, Lady Michelle Obama's, Michelle Obamas, Cheriss, Gerry Cardinale, Jeff Shell, RedBird, Shari Redstone's, David Ellison, Byron Trott, Zucker, Mark Thompson, Linda Yaccarino, X Linda Yaccarino, Vox, Jerod Harris, Yaccarino, CNBC's Julia Boorstin, Boorstin, Elon Musk's, Jason LaVeris, Barbie, Mario, Oppenheimer, LightShed's Greenfield Organizations: Walt Disney Company, New York Times, Santiago, Getty, Jazz, Lincoln Center, Warner Bros ., Comcast, Warner Bros, Discovery, Disney, Trian Fund Management, Future Investment Initiative, Summit, Bloomberg, Filmmagic, Disney Entertainment, Electronic Arts, CNBC, Candle Media, Iger, Media, Moonbug Entertainment, Apple Boston Celtics, Golden State Warriors, USA, National Basketball Association, NBA, Apple, The College, ESPN, College, NHL, MLB, Vegas Golden Knights, Florida Panthers, Mobile, National Hockey League, Diamond Sports Group, Scripps, Gray Television, Las Vegas Golden Knights, Arizona Coyotes, Phoenix Suns, Street Journal, Netflix, Hulu, Max, Paramount, RedBird, Paramount Global, CNN Worldwide, CNN, NurPhoto, BDT, The Ritz, Carlton, FilmMagic, Mario Bros Locations: New York City, Disney, Miami , Florida, Las Vegas , Nevada, Laguna Niguel, Dana Point , California
Key federal agencies have spent all or nearly all of the $111 billion in supplemental funding approved by Congress to support Ukraine. Photo: alina smutko/ReutersWASHINGTON—The U.S. will be unable to continue providing weapons and equipment to Ukraine if Congress doesn’t approve additional funding by the end of the year, the White House said on Monday, warning of devastating consequences on the battlefield if lawmakers fail to act. “Cutting off the flow of U.S. weapons and equipment will kneecap Ukraine on the battlefield, not only putting at risk the gains Ukraine has made, but increasing the likelihood of Russian military victories,” Shalanda Young , the director of the White House Office of Management and Budget, wrote in a letter to House Speaker Mike Johnson (R., La.
Persons: alina smutko, , ” Shalanda Young, Mike Johnson Organizations: Congress, WASHINGTON, White, Office of Management Locations: Ukraine, The U.S, U.S
The Heat Rises at COP28
  + stars: | 2023-12-04 | by ( Andrew Ross Sorkin | Bernhard Warner | Sarah Kessler | ) www.nytimes.com   time to read: +1 min
Climate concerns boil overTensions are rising on Monday over contentious comments by Sultan Ahmed al Jaber, the oil executive and Emirati politician presiding over the COP28 climate summit. His skepticism about the world’s ability to halt a rise in global temperatures by reducing the use of hydrocarbons is casting fresh doubts over the U.A.E.’s commitment to addressing the climate crisis. “There is no science out there, or no scenario out there, that says that the phaseout of fossil fuel is what’s going to achieve 1.5 C,” he said at an event before the summit. The controversy revived concerns about his role as leader of COP28, given that he is also the chairman of the Abu Dhabi National Oil Company. Al Jaber has long contended that fossil fuel companies should play a prominent role in the world’s energy transition to bring down global temperatures.
Persons: Sultan Ahmed al Jaber, Al Jaber, , COP28 Organizations: Abu Dhabi National Oil Company Locations: Abu Dhabi
Photo of Hisham Awartani, one of three Palestinian students shot in VT, with his mother, Elizabeth Price. Institute for Middle EastHisham Awartani, one of three Palestinian students who were shot while walking in Vermont is now paralyzed, his mother Elizabeth Price tells CNN. A 20-year-old junior at Brown University, Hisham was coming to terms with the “very long road he has in front of him," Price said. Price said Awartani was scheduled to be released from the hospital next week and will go on to receive rehabilitation care. Read More: One of the three Palestinian students shot in Vermont is paralyzed from the shooting, his mother says
Persons: Hisham Awartani, Elizabeth Price, Price, “ It's, it's, Hisham, ” Price, Awartani, Tahseen Ali Ahmad, Trinity College –, Jon Murad, Jason J, Eaton, Read Organizations: Elizabeth Price . Institute for Middle, CNN, Brown University, Haverford College, Trinity College, Burlington Police, West Bank Locations: Vermont, Burlington, Ramallah, United States
A Closer Look at Donald Trump’s Second-Term Agenda
  + stars: | 2023-12-02 | by ( Andrew Restuccia | ) www.wsj.com   time to read: 1 min
Among other proposals for a second White House term, former President Donald Trump has said he would institute a credentialing body to certify teachers ‘who embrace patriotic values and support the American Way of Life.’ Photo: Jim Vondruska/Getty ImagesFormer President Donald Trump has outlined a second-term agenda that envisions a muscular use of federal authority to influence swaths of American society. Here are some of the most notable proposals that Trump has outlined on his campaign website:EducationTrump has promised to take funds from private-university endowments to create a government-backed “American Academy” that would provide free online courses and allow people to achieve the equivalent of a bachelor’s degree.
Persons: Donald Trump, Jim Vondruska, Trump, Education Trump Organizations: Education, American
WASHINGTON—As he campaigns to retake the White House, Donald Trump has increasingly tossed aside the principles of limited government and local control that have defined the Republican Party for decades. The former president is laying plans to wield his executive authority to influence school curricula, prevent doctors from providing medical interventions for young transgender people and pressure police departments to adopt more severe anticrime policies. All are areas where state or local officials have traditionally taken the lead.
Persons: Donald Trump Organizations: WASHINGTON, Republican Party
Samir Hussein/WireImage/Getty ImagesAcclaimed artist Abel "The Weeknd" Tesfaye is providing four million meals to the United Nations World Food Programme (WFP) to help people in Gaza, the UN's body has said. Tesfaye, who is a UN Goodwill Ambassador, has directed $2.5 million from his XO Humanitarian Fund towards WFP humanitarian efforts in Gaza, according to WFP's statement Friday. The WFP didn't indicate when the aid could reach Gaza. His XO Humanitarian Fund, which was established in partnership with WFP USA in 2022, has raised $5 million to date. The first $2.5 million of the fund went to support emergency food assistance to women and children in Ethiopia, and the rest will be allocated to the Gaza response, according to the statement.
Persons: Samir Hussein, Abel, Tesfaye, Corrine Fleisher, Organizations: United Nations, Food Programme, UN Goodwill, Fund, USA Locations: London, Gaza, Ethiopia
Ron DeSantis' campaign is announcing the completion of a longtime campaign pledge Saturday: touring all of Iowa's 99 counties, a milestone for a campaign that has devoted significant resources to the first-in-the-nation contest. On paper, DeSantis has made significant strides in running a traditionally successful Iowa campaign, racking up influential endorsements and dedicating significant time, personnel and financial resources to the state. And while the DeSantis campaign, with significant super PAC help, has stayed focused on Iowa, it remains unclear just what the traditional Iowa playbook counts for in this unusual modern campaign against Trump. "Winning an Iowa caucus requires a strong combination of outworking and out-organizing the competition and that's been the Ron DeSantis model. Inside the sprint to the caucusesStill, the DeSantis playbook in Iowa hardly stops at the "Full Grassley."
Persons: Ron DeSantis, Scott Olson, Sen, Chuck Grassley, Donald Trump, Nikki Haley, DeSantis, haven't, Biden, Sparks, Newsom, Trump, Former Pennsylvania Sen, Rick Santorum, Texas Sen, Ted Cruz, Mike Huckabee, Santorum, Michele Bachmann, Ryan Binkley, Red Oak, Iowa Sen, Joni Ernst, , Grassley, Andrew Romeo, that's, Kim Reynolds, Bob Vander Plaats, Reynolds, Vander, Iowans, Haley, Joe Biden, She's, Olivia Perez, David Hansen, Hansen, Tim Scott Organizations: Florida, Machine, Getty, Florida Gov, United Nations, Iowa, NBC, White, Trump, Presidential, Former Pennsylvania, Republican, NBC News, Des Moines Register, Prosperity, Waterloo Locations: Davenport , Iowa, Newton , Iowa, Florida, Arizona, Iowa, Former, Texas, Iowa's, Wright, Des Moines, Red, New Hampshire, Iowa , New Hampshire, South Carolina, Ron DeSantis ' Iowa, Midwest, Plainfield
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJay Monahan on the record: PGA Tour commissioner on LIV deal, medical leave of absenceCNBC's Andrew Ross Sorkin discusses his interview with PGA Tour commissioner Jay Monahan at The New York Times' DealBook Summit.
Persons: Jay Monahan, LIV, CNBC's Andrew Ross Sorkin Organizations: PGA, The New York Times
SAN FRANCISCO (AP) — Walmart is the latest company to join the growing flock of major advertisers to pull spending from X, Elon Musk’s beleaguered social media company, amid concerns about hate speech — as well as reaching a sizeable audience on the platform. “We aren’t advertising on X as we’ve found some other platforms better reach our customers,” Walmart said in a statement. Musk said advertisers pulling out are engaging in “blackmail” and, using a profanity, essentially told them to go away. Walmart is joining the Walt Disney Co., IBM, NBCUniversal and its parent company Comcast and other companies who have decided to stop spending on X. But X's relations with advertisers don't appear to be improving.
Persons: Elon Musk’s, Musk, Andrew Ross Sorkin, , , ” Musk, Linda Yaccarino, Joe Benarroch Organizations: FRANCISCO, Walmart, Walt Disney Co, IBM, NBCUniversal, Comcast
Some of that loss may be because of disappointing news about the Cybertruck’s pricing and availability. But some may also reflect renewed concern about Elon Musk’s latest comments, made at the DealBook Summit this week, and whether his self-inflicted damage at X is distracting from his other businesses. Advertisers aren’t impressed by Musk’s recent tirade. On Wednesday, he asserted that brands were trying to “blackmail” him by suspending their advertising after he endorsed an antisemitic conspiracy theory on X. “There is no advertising value that would offset the reputational risk of going back on the platform,” Lou Paskalis, the founder and C.E.O.
Persons: Tesla’s, Elon Musk’s, aren’t, Musk’s, , Lou Paskalis Organizations: Tesla, AJL, Times
Listen and follow DealBook SummitApple Podcasts | Spotify | Amazon MusicDealBook Summit includes conversations with business and policy leaders at the heart of today’s major stories, recorded live at the annual DealBook Summit event in New York City. With the 2024 election less than a year away, the Biden-Harris administration must navigate a host of challenges at home and abroad, including inflation and partisan gridlock, and conflicts in Gaza and Ukraine. Vice President Kamala Harris defended the administration’s economic record, pointing to record low unemployment and wage growth, and deflected concerns about Biden’s age. In talking about the Israel-Hamas war, which seems to have prompted an upsurge of antisemitism, Harris emphasized that she believed social divisions based on race, religion or otherwise had long existed in the country. It was just a matter of what might trigger a flare-up.
Persons: Harris, Kamala Harris Organizations: Spotify, Biden Locations: New York City, Gaza, Ukraine, Israel
Listen and follow DealBook SummitApple Podcasts | Spotify | Amazon MusicDealBook Summit includes conversations with business and policy leaders at the heart of today’s major stories, recorded live at the annual DealBook Summit event in New York City. Elon Musk’s Starlink satellites connect every corner of the world to the internet. His electric car company, Tesla, has prodded the automotive industry toward a self-driving, battery-powered era. His 2022 purchase of Twitter promised a “common digital town square,” but a year later, the platform — now called X — has become a lightning rod for controversy. Earlier this month, IBM and other big brands pulled their spending from the social media platform after Musk endorsed an antisemitic post.
Persons: Elon Musk’s, , X Organizations: Spotify, Elon, Twitter, IBM Locations: New York City
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Squawk Box' crew react to Elon Musk's NYT DealBook Summit interviewCNBC's Andrew Ross Sorkin, Becky Quick and Joe Kernen discuss Elon Musk's interview at The New York Times DealBook Summit.
Persons: CNBC's Andrew Ross Sorkin, Becky Quick, Joe Kernen, Elon Musk's Organizations: Elon Musk's, The New York Times DealBook
CNBC Daily Open: The COP28 heat is on
  + stars: | 2023-11-30 | by ( Clement Tan | ) www.cnbc.com   time to read: +4 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The S&P 500 ticked down 0.09% to end at 4,550.58, and the Nasdaq Composite slipped by 0.16% to 14,258.49. The force is risingSalesforce shares rose 7% in extended trading on Wednesday after the cloud software vendor's third-quarter earnings topped analysts' estimates. [PRO] Beware crowded tradesThe S&P 500 is up more than 8% in November, putting it on track for its biggest monthly gain since July 2022.
Persons: Dow Jones, Jensen, Jensen Huang, CNBC's Andrew Ross Sorkin, Huang, Morgan Stanley, Russell Organizations: Expo, CNBC, Dow Jones, Dow, Nasdaq, Commerce Department, Gross, Federal Reserve, United Auto Workers, Detroit automakers, BMW, Honda, Hyundai, Mazda, Benz, Nissan, Subaru, Toyota, Volkswagen, Volvo, General Motors, Nvidia Locations: Dubai, United Arab Emirates, U.S, China
New York Times columnist Andrew Ross Sorkin, left, and Bob Iger, CEO of The Walt Disney Company, speak during the Times' annual DealBook Summit in New York City, Nov. 29, 2023. Disney Chief Executive Officer Bob Iger said Wednesday he will no longer tolerate his company's partners and creative team prioritizing messaging over storytelling. Iger had been in charge of "creative endeavors" in 2020 and 2021, even while Bob Chapek ran the company as CEO. Disney named two new board members on Wednesday — former Morgan Stanley CEO James Gorman and former Sky CEO Jeremy Darroch — as it gears up for a potential proxy fight. Current Disney board member Francis A. deSouza won't run for reelection at the annual meeting.
Persons: Andrew Ross Sorkin, Bob Iger, Iger, It's, Disney's, Bob Chapek, Ron DeSantis, Sen, Ted Cruz, it's, I've, Nelson Peltz's, Morgan Stanley, James Gorman, Jeremy Darroch —, Francis A, deSouza Organizations: New York Times, Walt Disney Company, Times, Disney, Florida Gov, Management, Wednesday, Sky Locations: New York City, New York, Ted Cruz of Texas
Elon Musk hinted at his 2024 voting intentions in an interview at an event Wednesday. Musk claims that he's a centrist, but has increasingly supported rightwing politicians. AdvertisementElon Musk doubts he'll be voting for Joe Biden in the 2024 presidential election. "They held an electric vehicle summit at the White House and specifically refused to let Tesla attend," Musk said. Musk has increasingly supported rightwing candidates, offering his social media platform X to Ron DeSantis for his launch of his presidential run back in May.
Persons: Elon Musk, Joe Biden, he's, , Elon, Biden, I'm, Andrew Ross Sorkin, Musk, Tesla, Nikki Haley, Vivek Ramaswamy, Barack Obama, Ron DeSantis Organizations: Service, The New York Times, Summit, Trump, Democrat, White, Washington Post Locations: Florida
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