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The U.S. Federal Reserve is likely to cut interest rates before the European Central Bank does, a former member of the Bank of England said, defying current market expectations. Investors are closely monitoring central bank moves on the back of a considerable reduction in inflation across major economies. So far, Switzerland was the first major economy to cut interest rates back in late March. Market players are currently pricing in a 92.8% chance that the ECB will cut rates in June from the historically high level of 4%, according to LSEG data. Her comments come just ahead of a European Central Bank meeting due on Thursday.
Persons: DeAnne Julius, Julius, Christine Lagarde, Lagarde Organizations: U.S . Federal, European Central Bank, Bank of England, Monetary, CNBC, Tuesday, ECB, Federal Reserve Locations: Switzerland, U.S, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS shares move lower after politicians request strong capital requirementsCNBC's Silvia Amaro reports on the "Too Big To Fail" report from Switzerland, which calls for strong capital requirements from banking giant UBS after the absorption of Credit Suisse.
Persons: CNBC's Silvia Amaro Organizations: UBS, Credit Suisse Locations: Switzerland
The World Trade Organization on Wednesday said that it expects global trade to rebound gradually this year, before rising further in 2025, as the impacts of higher inflation fall into the rearview mirror. In its latest "Global Trade Outlook and Statistics" report, the WTO forecast that total global trade volumes will increase by 2.6% in 2024, and by a further 3.3% in 2025. It follows a larger-than-expected 1.2% decline in 2023, as inflationary pressures and higher interest rates weighed on international trade. The trade rebound is expected to be "broad-based," including across Europe, which experienced some of the deepest falls in trade volumes last year as a result of geopolitical tensions and the energy crisis caused by Russia's full-scale invasion of Ukraine. "Europe was really weighing on international trade in 2023, and we don't see that being the case anymore," Ossa said.
Persons: Ralph Ossa, CNBC's Silvia Amaro, Russia's, Ossa Organizations: World Trade Organization, Trade Outlook, WTO Locations: Europe, Africa, India, Pakistan, Southeast Asia, Qianwan, Qingdao Port, Qingdao, China, Ukraine
It had been more than a year since the Covid pandemic had forced Disney's domestic parks to shutter, but D'Amaro, chair of Disney's experiences division, was confident guests would flood back in when the gates reopened. Revenues fell 35% in 2020, a nearly $10 billion decrease from the $26.2 billion the experiences division had tallied in the year before the pandemic. The experiences division posted record revenue of $32.5 billion in fiscal 2023, a 16% increase from the prior year. Its innovations, from ride mechanics and animatronics to creature design and immersive architecture, have made Disney's parks a standout in the industry. Storytelling is at the heart of everything across Disney's experiences division.
Persons: Mickey Mouse, Ian Langsdon, Josh D'Amaro, D'Amaro, Bob Chapek, D'Amaro —, Walt Disney, King Arthur Carousel, Christian Thompson, you've, it's, Bob Iger, Nelson, Walt Disney Imagineering, Rey, Kylo Ren, Judy Hopps, Imagineers, CNBC —, Lewis, Disney, Imagineering, Matt Stroshane, Alan Bergman Organizations: Paris, Afp, Getty, Gibson, Disney, Walt Disney Imagineering, Hong Kong Disneyland, Walt Disney, Guardians, Magic Kingdom, Epcot, Star Wars, California Disneyland's, Walt Disney Imagineering's, Disney Engineers, Force, Southwest, CNBC, Galactic, Marvel Locations: California, Burbank, Disneyland, Hong Kong, Shanghai Disneyland, Florida, Epcot, Magic, Wharf, Disneyland's, Disney's, Edge
Glendale, California CNN —Big Thunder Mountain Railroad, the “wildest ride in the wilderness,” sits at one edge of Disney World’s Magic Kingdom park, the most visited theme park in the world. “It’s probably the largest expansion ever at Magic Kingdom,” Michael Hundgen, Walt Disney World site portfolio executive, said Tuesday during a rare media event previewing new Disney attraction designs and technology at its Walt Disney Imagineering facility in California. Disney’s 10-year investment planThe Magic Kingdom expansion is one part of a $60 billion investment Disney has said it’s planning for its parks, cruises and experiences over the next decade. But any plans for expanding the theme park footprint at the Disneyland resort would need Anaheim city approval because of zoning issues. This is really a wild experience.”Charita Carter, executive creative producer at Walt Disney Imagineering, worked on the project from its inception about four years ago.
Persons: “ It’s, ” Michael Hundgen, Walt, Walt Disney, Bob Iger, Josh D'Amaro, Iger, “ it’s, Disney, ” Iger, , Mike Pucher, Walt Disney Imagineering Iger, Imagineers, Darth Vader, Imagineer Lanny Smoot, ” Smoot, Smoot, Christian Thompson, Stella Reese Chase, Leah Chase, Chase, “ I’m, I’ve, ” Charita Carter, Walt Disney Imagineering, Carter, Organizations: California CNN, Railroad, Disney, Magic Kingdom, Walt Disney, Walt, CNN, Universal Orlando Resort, Universal, Comcast, Anaheim City Council, National Inventors Hall of Fame, Research, Walt Disney Imagineering Research, Disneyland’s Locations: Glendale, California, , Central Florida, Disney’s Florida, Florida, Anaheim, New Orleans
That would mark a milestone for the company, which launched Disney+ on Nov. 12, 2019. It would be the first time Disney showed it can make money from Disney+, Hulu and ESPN+. Disney will need to sustain and grow streaming profit to justify Iger's five-year-old strategy to go "all in" on the segment. Disney has already offered ESPN+, a sports streaming service that has some but not all of ESPN's content. Trian Partners' Nelson Peltz, who failed to join Disney's board Wednesday after securing just 31% of the vote, publicly questioned what he has called Disney's "woke" content strategy.
Persons: Bob Iger, Sun Valley , Idaho David A, Iger, Disney, they've, Cowen, Doug Creutz, Needham, Laura Martin, Gabby Jones, David Greenbaum, Sean Bailey, Alan Bergman, Indiana Jones, Nelson Peltz, Peltz, shouldn't, Bob Chapek, He'll, Bergman, Jimmy Pitaro, Josh D'Amaro, Dana Walden, They've, Cowen's, you've, That's, it's, — CNBC's Sarah Whitten, Needman's Martin Organizations: Disney, Allen & Company Sun Valley Conference, Grogan, CNBC Disney, Disney Disney, Hulu, ESPN, Co, Warner Bros . Discovery, Fox, CNBC, Athletic, Bloomberg, Getty, Marvel, Star Wars, Searchlight, Walt Disney Motion, Disney Entertainment, Century Fox, Sony, Disney's Marvel Studios, Trian Partners, Financial Times, Resorts, Iger Locations: Sun Valley , Idaho, Brooklyn , New York, Iger, Parks, Disney
The appointment would make Walden the first female CEO of the Walt Disney Co. in its 100-year history. "Anybody they choose will have never been the Disney CEO prior to that." At Disney, Walden has hit several home runs, including FX's "The Bear," Hulu's "The Dropout" and "Only Murderers in the Building," and ABC's "Abbott Elementary." Former Disney CEO Bob Chapek CNBCChapek climbed the corporate ladder at Disney for 30 years by showcasing his business and finance chops. Combating female stereotypesIf Walden were appointed CEO, she would be the first woman to run the century-old company.
Persons: Dana Walden, Disney Entertainment Rich Polk, Peter Chernin, Rupert, Walden, Bob Iger, he'd, Fox, Chernin, Peter Roth, Roth, Peter Chernin Getty, Josh D'Amaro, Jimmy Pitaro, Alan Bergman, Nelson, Peltz, Iger, Bob Chapek, Walden's, Bergman, she's, hasn't, , Walden —, Dana doesn't, Jennifer Salke, Jennifer Salke Stephen Desaulniers, CNBC Walden, Richard Plepler, Craig Hunegs, Carol Burnett's, Carrie Hamilton, George Burns, Dean Martin, roasts, Martin, Buddy Hackett, Matt Walden, Bender, Goldman, she'd, Arsenio, Lucie Sulhany, Dana Walden Jason Laveris, Gary Newman, Newman, It's, Dana, Ryan Murphy, John Landgraf, Jan, Seth MacFarlane, Guy, Tuck, MacFarlane, Murphy, Steve Levitan, Dan Fogelman, Rick Rosen, Rosen, Howard Gordon, Levitan, Peter Rice, Rice, wasn't, Chapek, Rich Appel, Gary, it's, Percy Jackson, didn't, Bob Chapek CNBC Chapek, showrunners, Scarlett Johansson, Kristina Schake, Jay Sures, Sures, Amazon's Salke, Greta Gerwig, Gloria, Murphy's, Miss Jones, There's, Steve Levitan Peter, Hopper, Critics, She's, Salke, WME's Rosen Organizations: Disney Entertainment, Getty, Century Fox Filmed Entertainment, Rupert Murdoch's News Corp, Walt Disney Co, Century Fox, Fox, Century Fox Television, Warner Bros, Disney, ESPN, Entertainment, CNBC, Trian Partners, Iger, Amazon Studios, HBO, Disney TV Studios, Hollywood, Westlake School for Girls, Harvard, Westlake School, The Friars Club, University of Southern, Paramount, Paramount Domestic Television, Filmmagic, Fox Broadcasting, Walden, CBS, FX Networks, Bob Chapek CNBC, Indiana University, Michigan State University, United Talent Agency, Hulu Locations: Santa Barbara , California, Walden, Brentwood , California, She's, Disney's, Studio City, Los Angeles, Las Vegas, University of Southern California, Chapek, Hollywood, Walden's, Iger, America
H&M reports better-than-expected first-quarter results
  + stars: | 2024-03-27 | by ( Silvia Amaro | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailH&M reports better-than-expected first-quarter resultsCNBC's Silvia Amaro breaks down the latest quarterly results from the H&M Group.
Persons: CNBC's Silvia Amaro Organizations: M
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU Greens lawmaker: Reversing climate deal would be catastrophic economicallyTerry Reintke, an EU lawmaker and the co-president of the Group of the Greens at the European Parliament, speaks to CNBC's Silvia Amaro.
Persons: Terry Reintke, CNBC's Silvia Amaro Organizations: Email EU Greens, Greens
That's what one Ukrainian lawmaker said of the wife of the late Alexei Navalny, who vowed to continue her husband's political work fighting for democracy in Russia after he died in a Siberian prison last month. As the first reports of Navalny's death started to emerge, Navalnaya was in Munich at a security conference. Yulia Navalnaya (L) is applauded by European Parliament President Roberta Metsola after addressing the European Parliament on Feb. 28, 2024. "I will continue the work of Alexei Navalny. Belarusian political opposition in exile leader Svetlana Tikhanovskaya clutches a folder with a portrait of her husband, jailed opposition figure Sergei Tikhanovsky, in November, 2023 Sean Gallup | Getty Images News | Getty Images
Persons: Yulia Navalnaya, Alexei Navalny, Kai Pfaffenbach, Navalnaya, Alexei, Roberta Metsola, Frederick Florin, Lisa Yasko, Cristina Quicler, Yasko, Viktor Yanukovych, Volodymyr Zelenskyy, Monique Jaques, Aleksandr Lukashenko —, Vladimir Putin, Tsikhanouskaya, Lukashenko, Svetlana Tikhanovskaya, Sergei Tikhanovsky, Sean Gallup Organizations: Munich Security, Afp, Getty, European Union, CNBC, Zoom, Corbis, Munich, Conference Locations: Munich, Germany, Russia, Ukrainian, Georgia, Kyiv, Kiev, Ukraine, Belarus, Belarusian
As of Feb. 29 with 313 companies having reported, 50.2% posted a beat, according to a CNBC analysis of FactSet data. This was the smallest percentage of beats — thus the worst earnings season — since the first quarter of 2020 when the pandemic first hit European firms. Share buyback bonanzaSharon Bell, a senior European strategist at Goldman Sachs, told CNBC that she had noticed a new trend for European corporates during this earnings season. "What you have seen is a lot of companies announcing buybacks," she told CNBC's "Squawk Box Europe" Tuesday. "It is absolutely huge, you've never really seen this before in 20, 30 years, European companies pay dividends, they don't do buybacks," she said.
Persons: , Edward Stanford, Philippe Ferreira, Kepler Cheuvreux, Sharon Bell, Goldman Sachs, CNBC's, you've, Bell, Ferreira Organizations: CNBC, HSBC, L'Oreal, European Central Bank, Shell, Deutsche Bank, Novo Nordisk, UBS Locations: Triomphe, France, Europe, China, Ukraine, European
Sweden is poised to become the 32nd member of NATO
  + stars: | 2024-02-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSweden is poised to become the 32nd member of NATOCNBC's Silvia Amaro reports on the latest expansion of the NATO military coalition, after holdout Hungary approved Sweden's membership bid.
Persons: NATO CNBC's Silvia Amaro Organizations: Sweden, NATO Locations: Hungary
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEstonia hopes for a turning point in Ukraine in the next 4 to 6 weeksCNBC's Silvia Amaro reports on the latest round of sanctions on Russia for its war in Ukraine. Kusti Salm, permanent secretary of the Estonian Ministry of Defense, says "we are approaching the darkest hours" in Russia's war in Ukraine.
Persons: CNBC's Silvia Amaro, Kusti Organizations: Estonia, Estonian Ministry of Defense Locations: Ukraine, Russia, Kusti Salm
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Kusti Salm, permanent secretary of the Estonian Ministry of DefenseKusti Salm, permanent secretary of the Estonian Ministry of Defense, speaks to CNBC's Silvia Amaro.
Persons: Kusti Salm, Estonian Ministry of Defense Kusti, CNBC's Silvia Amaro Organizations: Estonian Ministry of Defense
Kari Bingen director of the aerospace security project and senior fellow in the international security program at the Centre for Strategic International Studies. Space-based anti-satellite nuclear weapons — or so-called space nukes — are a type of weapon designed to damage or destroy satellite systems. "It's an indiscriminate weapon," Bingen said. The deployment of a space-based nuclear weapon would mark a major advancement of Russia's military capabilities and a serious escalation of geopolitical tensions. Kari Bingen director of the aerospace security project and senior fellow in the international security program at the Centre for Strategic International Studies.
Persons: Vladimir Putin, Alexander Ryumin, Mike Turner, Joe Biden, It's, Kari Bingen, Bingen, Juan Barreto, Putin, CNBC's Silvia Amaro Organizations: Sputnik, Chelyabinsk, Afp, Getty, U.S, White, CNBC, . House Intelligence, Bloomberg, Centre, Strategic International Studies, Analysts, Strategic International, United Nations Office, Outer Space Affairs, Elon Musk, Reuters, U.S ., Space Foundation, The, NATO, General, Saturday, Munich Security Conference Locations: Russian, Chelyabinsk Region, Chelyabinsk, Washington, Moscow, Russia, Ukraine, China, Bogota, U.S, The U.S
Russia's President Vladimir Putin and Chinese President Xi Jinping shake hands during a meeting in Beijing on October 18, 2023. The provisions would mark the first direct penalties against Beijing despite long-held Western suspicions over its support for Russia's military operations. So I would hope China would calculate carefully that there are consequences around the corner for supporting Russia's violence and depravity in Ukraine." Asked whether the U.S. is considering similar sanctions on China as those proposed by the EU, U.S. A separate January report found that China has become key conduit in funnelling critical Western tech into Russia.
Persons: Vladimir Putin, Xi Jinping, Sergei Guneyev, Gerald Connolly, CNBC's Silvia Amaro, Connolly, Ben Cardin, Biden, Josep Borrell, Alexei Navalny Organizations: Afp, Getty, Congress, CNBC, Democratic, U.S . House, Foreign Relations, European Union, Beijing, Saturday, Munich Security, EU, U.S, Russia, U.S . National Security Council Locations: Beijing, Munich, GERMANY, The U.S, Russia, Ukraine, China, Washington, U.S
Munich, GERMANY — Should we borrow from global markets as one combined entity and raise new debt together? That's the question hanging on the shoulders of EU officials as they promise to spend more on defense amid Russia's onslaught in Ukraine. However, in 2020, the 27 members of the European Union decided that the best way to deal with the financial and extraordinary impact of the Covid-19 pandemic was to jointly raise debt. Estonian Prime Minister Kaja Kallas said in an interview with Bloomberg that joint bonds would be a good way to boost the bloc's defense capacities. Dutch Prime Minister Mark Rutte was also very clear he would not support joint debt at the EU level.
Persons: Emmanuel Macron, Volodymyr Zelenskyy, Olaf Scholz, GERMANY —, Alexander de Croo, Kaja Kallas, Christian Lindner, Lindner, Mark Rutte Organizations: European Union, CNBC, Munich Security Conference, Estonian, Bloomberg, Munich Security, Dutch, EU, MSC Locations: Paris, France, Munich, GERMANY, Ukraine, Belgium, Brussels, Russia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. lawmakers reiterate support for Ukraine as President Zelenskyy calls for more aidCNBC's Silvia Amaro reports from the Munich Security Conference where delegates expressed concerns over U.S. support for Ukraine.
Persons: Zelenskyy, CNBC's Silvia Amaro Organizations: U.S, Munich Security Locations: Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRussia’s war in Ukraine is igniting an old debate in Brussels over debtCNBC's Silvia Amaro reports from Munich on how European NATO members have plans to increase their defense spending.
Persons: CNBC's Silvia Amaro Organizations: NATO Locations: Ukraine, Brussels, Munich
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSingapore's defense minister says trade is necessary for peace — and 'China is not Russia'Speaking at the Munich Security Conference, Ng Eng Hen, Singapore's minister for defence, tells CNBC's Silvia Amaro on a panel that trade is crucial when talking about the prevention of conflict.
Persons: , Ng Eng, CNBC's Silvia Amaro Organizations: Munich Security Locations: China, Russia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNATO head says the U.S. won't withdraw from alliance: It makes them 'stronger'Speaking at the Munich Security Conference, Jens Stoltenberg, secretary general of NATO, tells CNBC's Silvia Amaro that regardless of the outcome of the U.S. election, he expects the country to remain a "staunch" ally of the allaince.
Persons: Jens Stoltenberg, CNBC's Silvia Amaro Organizations: NATO, Munich Security Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSpending 2% on defense 'can only be the start of it,' says Germany's Boris PistoriusSpeaking on a panel hosted by CNBC's Silvia Amaro at the Munich Security Conference, German Defense Minister Boris Pistorius discussed NATO's 2% investment target and geopolitical risks around the world.
Persons: Boris Pistorius, CNBC's Silvia Amaro Organizations: Munich Security Conference, German
"He will pull us out of NATO," Clinton told attendees during a lunchtime session. watch nowU.S. Republican Senator Jim Risch, ranking member of the Senate Committee on Foreign Relations, on Saturday dismissed talk of the U.S. quitting NATO, saying: "We have answered that question." Clinton said, however, that Trump could actually just refuse to fund the alliance. Dutch Prime Minister Mark Rutte earlier Saturday referenced constant "moaning and whining" at the event about the future of NATO under Trump. Indeed, Germany's defense minister said that his country's commitment to spend 2% of GDP on defense should be just the start, noting that the threshold could rise to 3.5% if necessary.
Persons: Donald Trump, Joe Raedle, Hillary Clinton, Clinton, doesn't, Jim Risch, Trump, Europe's, Mark Rutte, Olaf Scholz, Mette Frederiksen, Frederiksen, Jens Stoltenberg, CNBC's Silvia Amaro Organizations: U.S, Getty, NATO, Saturday, White, Munich Security Conference, Trump, Congress, Republican, Foreign Relations, United States Senate, CNBC, U.S . House, Representatives, Dutch, Danish Locations: Lago, West Palm Beach , Florida, MUNICH, Germany, U.S, Russia, Munich, Ukraine, Europe, NATO, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnti-Kremlin activist Bill Browder says we need to save the lives of other Putin opponentsAnti-Kremlin activist Bill Browder, CEO and co-founder of Hermitage Capital Management, speaks to CNBC's Silvia Amaro.
Persons: Bill Browder, Putin, CNBC's Silvia Amaro Organizations: Kremlin, Hermitage Capital Management
Anti-Kremlin activist Bill Browder said he believes Alexei Navalny's death was intended as a message to political opponents of Russian President Vladimir Putin ahead of elections next month. Dissident Navalny, who died Friday, had been serving a 19-year prison sentence on charges of extremism in Russia, which he vehemently denied. World leaders reacted with dismay and suspicion to the death, with U.S. President Joe Biden saying "Putin is responsible." Russia's Foreign Ministry on Friday said the West's reaction to Navalny's death was "self-exposing," given that no forensic medical examination had been made available at the time. Browder, the CEO and co-founder of Hermitage Capital Management and a friend of Navalny, also accused the Russian leader of being behind the death.
Persons: Bill Browder, Alexei Navalny's, Vladimir Putin, Navalny, Joe Biden, Putin, Browder, Alexei Navalny, CNBC's Silvia Amaro Saturday Organizations: Kremlin, U.S, Hermitage Capital Management, Munich Security Conference Locations: Russia
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