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☆ Salesforce CEO Benioff rips Microsoft's AI efforts. Here's why we're not picking sides
▼ + stars: | 2024-11-22 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

In the emerging AI software battle between Microsoft and Salesforce , investors do not need to pick a side. The announcements came roughly one year after the tech giant launched a suite of AI assistant tools called Microsoft 365 Copilot. Both companies leaning into AI agents is notable because Salesforce CEO Marc Benioff has not been hesitant to attack Microsoft's competing AI offerings. Salesforce stock is up 28% year to date versus Microsoft's roughly 9% gain since the start of 2024. I don't want to go against Microsoft," Jim said.

Persons: Jim Cramer, —, Marc Benioff, Benioff, who's, Satya Nadella, Nadella, They're, We've, Salesforce, Slack, Agentforce, Jim, it's, Jim Cramer's, Salesforce's Dreamforce, Justin Sullivan Organizations: Microsoft, Deutsche Bank, Club, CNBC, Getty Locations: Agentforce, Salesforce's, Mulesoft, San Francisco , California

☆ Bitcoiners celebrate as $40 million campaign brings down Ohio Sen. Sherrod Brown
▼ + stars: | 2024-11-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Republican nominee for U.S. Senate Bernie Moreno addresses supporters at Brecksville Community Center on November 4, 2024 in Brecksville, Ohio. He voted against pro-crypto legislation, called for more regulation of the sector, and regularly posted anti-crypto rhetoric on social media. According to the tracker, 224 pro-crypto candidates have been elected to the House, against 106 anti-crypto House candidates that have won. In the Senate, 14 pro-crypto candidates have been elected, while nine anti-crypto candidates have been victorious. "Americans disproportionately care about crypto and want clear rules of the road for digital assets," Armstrong wrote.

Persons: Bernie Moreno, Crypto, Sherrod Brown, Brown, Moreno, Sen, Elizabeth Warren, Chris Larsen, Joe Biden, Warren, I'm, Tyler Winklevoss, Gary Gensler crony, Winklevoss, Brian Armstrong, Armstrong, Coinbase, Gensler, Elect Moreno's, Bitcoin, Donald Trump Organizations: U.S, Brecksville, Center, Ohio Senate, U.S . Senate, CNBC, Politico, SEC, Senate, Crypto Alliance, NBC, Commodities, Trading Commission, Fairshake, Defend, Jobs, Republican, —, Yildirim Locations: Brecksville , Ohio, Ohio

☆ Here’s why mortgage rates are rising after the Fed’s rate cut
▼ + stars: | 2024-10-24 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Expectations of a Fed rate cut caused mortgage rates to drop to a two-year low of 6.08% in late September, but it failed to spur homebuying activity. Every percentage point on a mortgage rate makes a big difference for that monthly payment. Here’s what’s driving the recent upswing in mortgage rates. Mortgage rates track the 10-year US Treasury yield, which was expected to fall in anticipation of further rate cuts. “I am clearly not going to own any fixed income.”The government’s fiscal situation might already be having an impact on mortgage rates.

Persons: Freddie Mac, pare, what’s, ” Sam Khater, Freddie Mac’s, Robyn Beck, Donald Trump, Kamala Harris, Harris, “ We’re, Paul Tudor Jones, “, ” Lawrence Yun, Kimberly Bradley, Zach, Kimberly, “ I’ve, ” Kimberly, ” Ken Lowrey, Ken Lowrey, “ homeownership, ”, Lowrey Organizations: Washington CNN, Federal Reserve, National Association of Realtors, Mortgage, Association, Treasury, Getty, Federal Budget, Trump, CNBC, US Postal Service Locations: AFP, Manteo , North Carolina, Charleston , South Carolina

☆ Russia says it has no intention of abandoning Iran as it faces Israel's wrath
▼ + stars: | 2024-10-23 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

Alexander Shcherbak | Afp | Getty ImagesThe Kremlin said it has no intention of abandoning Iran as it faces a widely-expected direct attack from Israel. He did not directly answer whether Iran had asked Russia for support against Israel. Peskov told CNBC that Russia "maintains a dialogue with all parties involved in the conflict in the Middle East." Russia and Iran's 'strategic' dealTo see just how Russia could look to support Iran, all eyes are now on the BRICS summit that's taking place in Kazan, southwestern Russia. Russian President Vladimir Putin (R) shakes hands with Iranian President Masoud Pezeshkian (L) during their meeting, October 11, 2024, in Ashgabat, Turkmenistan.

Persons: Vladimir Putin, Masoud Pezeshkian, Magtymguly, Alexander Shcherbak, Dmitry Peskov, Sergei Ilnitsky, Peskov, Ali Akbar Ahmadian, Vyacheslav Prokofyev, Israel, Benjamin Netanyahu's, Ozcelik Organizations: Sputnik, Afp, Getty, Ukraine, CNBC, Kremlin, Google, Israel, Commonwealth of Independent States, CIS, Reuters, United, United Arab Emirates, Iran's, National Security Council, Middle, International Security, Royal United Services Institute, U.S, Global, UN Security Council Locations: Russian, Ashgabat, Iran, Israel, Gaza, Lebanon, Republic, Russia, Tehran, Moscow, Reuters Russia, Saudi Arabia, Syria, United Arab, Ukraine, Saint Petersburg, Kazan, Brazil, India, China, South Africa, what's, Turkmenistan

☆ SAP boss warns against regulating AI, says Europe risks falling behind U.S., China
▼ + stars: | 2024-10-22 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

- German software giant SAP reported a bottom line undermined by heavy restructuring costs, but lifted forecasts for the year ahead. Europe should avoid regulating artificial intelligence and focus its attention on the results of the technology instead, the CEO of German enterprise tech giant SAP told CNBC Tuesday. Christian Klein, who has held the top job at SAP since April 2020, said Europe risks falling behind the U.S. and China if it overregulates the AI sector. While it's important to mitigate the risks associated with AI, Klein argued that regulating the tech while it's still in its infancy would be misguided. "Especially for the startup scene here in Europe, it's very important to think about the outcome of the technology but not to regulate the AI technology itself."

Persons: Christian Klein, Klein Organizations: SAP, CNBC Locations: Walldorf, Germany, Europe, China, Asia, U.S

☆ What a resurgence in Wall Street dealmaking means for Morgan Stanley and Wells Fargo
▼ + stars: | 2024-10-02 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Great news for Club stocks Wells Fargo and Morgan Stanley : The rebound in investment banking isn't over yet. We'll find out to what extent when Wells Fargo reports earnings on Oct. 11 and Morgan Stanley delivers quarterly results on Oct. 16. MS YTD mountain Morgan Stanley (MS) year-to-date performance For Morgan Stanley, a resurgence in its investment banking division is crucial to our investment thesis and why we stuck with it. WFC YTD mountain Wells Fargo (WFC) year-to-date Morgan Stanley's IB business is much larger than Wells Fargo's. Wells Fargo, which has a strong wealth management franchise, is branching out to take a slice of the IB pie.

Persons: Morgan Stanley, We'll, Wells, Jerome Powell, Powell, Rebecca Brokmeier, Brokmeier, Morgan, Jim Cramer, Goldman Sachs, underperformance, Dan Simkowitz, Jim, We've, Charlie Scharf, Jim Cramer's, William McChesney Martin Jr, Anna Moneymaker Organizations: Club, Wells, Federal Reserve, Wall, P Global Market Intelligence, KPMG, Global, Fed, National Association for Business, CNBC, Morgan Stanley's IB, IB, Bloomberg News, Federal, Getty Locations: U.S, Nashville , Tennessee, Wells, Wells Fargo, Washington , DC

☆ London-based Robinhood rival Freetrade buys UK arm of Australian investing platform Stake
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

London-based online trading platform Freetrade told CNBC Tuesday that it's agreed to buy the U.K. customer book of Stake, an Australian investing app. Freetrade and Stake declined to disclose financial information of the deal, including the value of Stake's U.K. customer book. The company, which also operates in New Zealand, launched its services in the U.K. in 2020. Following the deal, customers of Stake U.K. will be contacted with details about how to move their money and other assets over to Freetrade in "the coming weeks," the companies said. Customers will still be able to use their Stake account until assets and cash are transferred to Freetrade in November.

Persons: it's, Matt Leibowitz, Dan Silver, Jon Abitz Organizations: CNBC, Stake Locations: Freetrade, Sydney, Australia, New Zealand

☆ Klarna rival Zilch posts first profit and appoints ex-Aviva CEO to board ahead of IPO
▼ + stars: | 2024-09-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

British financial technology firm Zilch on Tuesday reported its first-ever month of profit, marking a key milestone for the company as it looks toward an eventual initial public offering. Competitors Starling and Monzo, meanwhile, took more than three and four years to make their first profit, respectively. Others have managed to hit profitability faster. Zilch also said it topped £100 million ($130 million) in annual revenue run rate, doubling from the run rate it reported last year. Philip Belamant, Zilch's CEO and co-founder, told CNBC Tuesday that, despite the current high-interest rate environment, the firm was able to hit profitability by growing its business rather than cutting back like other fintechs have done.

Persons: Zilch, Starling, Monzo, Philip Belamant Organizations: CNBC

Slowing rate of change in earnings growth There are two important trends to follow in earnings. In the case of Nvidia, earnings are continuing to increase, but the rate of change is decelerating. This earnings report will likely be the final time in this stretch that Nvidia will see triple-digit earnings growth. But the impact has been shrinking – just as the overall Mag 7 impact has been diminishing with second quarter earnings growth broadening out. Last season (Q1), Nvidia was responsible for a little more than one-third of the S & P 500's 8% earnings growth.

Persons: ChatGPT, It's, Wall, Jensen, Josh Brown, Christopher Rolland, I've, you've, Lori Calvasina, it's, Matt Bryson, Nvdia's, Huang, Stifel, Blackwell, Mark Lipacis, NVDA, Hopper, Angelo Zino, Dan Ives, Ives, Brown Organizations: Nvidia, Jensen Huang's, Ritholtz Wealth Management, CNBC, RBC Capital Markets, Microsoft, Meta, Analysts, Nvdia's Blackwell, Blackwell Locations: Susquehanna, Wedbush

☆ Correction in the dollar-yen was overdue and may be 'healthy' for markets, former ECB chief says
▼ + stars: | 2024-08-06 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A carry trade involves an investor borrowing a currency with low interest rates and reinvesting it in higher-yielding assets elsewhere — taking advantage of that differential to make a financial gain. Investors piled into yen carry trades in recent years, attracted by Japan's low volatility and ultra-loose monetary policy. Global stock markets meanwhile plunged as "safe haven" assets such as the Swiss franc and U.S. Treasurys were bolstered. "You can't unwind the biggest carry trade the world has ever seen without breaking a few heads," Kit Juckes, chief foreign exchange strategist at Societe Generale, said in a Monday note. Trichet told CNBC Tuesday: "The correction can be seen as a healthy correction, in some respects.

Persons: it's, Jean, Claude Trichet, CNBC's, Treasurys, Kit Juckes, Trichet Organizations: European Central Bank, ., Bank of Japan, U.S, Global, Swiss, Societe Generale, CNBC, Federal Locations: France's, U.S, Europe, United States

☆ Russia considers legalizing crypto for global payments as it faces ongoing sanctions
▼ + stars: | 2024-07-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Illustrative image of two commemorative bitcoins seen in front of the national flag of Russia displayed on a computer screen. Russia is considering legalizing the use of cryptocurrency for international payments as the country faces ongoing financial pressure from Western sanctions. The State Duma, which is the lower house of the Russian Parliament, will on Tuesday consider a law that permits making international payments via cryptocurrencies, Elvira Nabiullina, the governor of Russia's central bank, said Tuesday. Russia's central bank is also itself looking to move money across borders using crypto, with its chief saying crypto-based payments will take place before the end of 2024. In January 2022, the Russian central bank proposed banning the use of crypto for transactions, as well as the mining of digital currencies, citing threats to financial stability, citizens' wellbeing and monetary policy sovereignty.

Persons: Elvira Nabiullina, Nabiullina Organizations: Duma, State Duma, Russian Federation Council, RIA Novosti, Reuters, Russian Embassy, CNBC Tuesday Locations: Russia, Russian, Russia's, State, cryptocurrencies, London

☆ As NATO meets, leaders look to 'Trump-proof' the military alliance
▼ + stars: | 2024-07-10 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

US President Donald Trump arrives for the NATO summit at the Grove hotel in Watford, northeast of London on December 4, 2019. U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky speak during a meeting in New York on September 25, 2019. Hanno Pevkur, Estonia's defense minister, emphasized that NATO allies did not interfere in each other's domestic politics and democratic processes. So when, when the choice of American people is Donald Trump, then it's Donald Trump. Then all the countries in the world, including Estonia, including the NATO allies, have to talk with this administration who will be put in place."

Persons: Donald Trump, Christian Hartmann, Trump, Recep Tayyip Erdogan, Peter Nicholls, Jens Stoltenberg, Stoltenberg, Joe Biden's, —, Volodymyr Zelensky, Saul Loeb, Donald Trump's, Keir Starmer, Starmer, we've, that's, Radosław Sikorski, CNBC's Steve Sedgwick, Hanno Pevkur, It's, France —, Balázs Orbán, Viktor Orbán Organizations: NATO, AFP, Getty, Republican, Ukraine, Eurasia Group, Trump, Ukrainian, Independent, CNBC, Hungary's Locations: Grove, Watford, London, Washington, Ukraine, China, North Korea, Iran, Britain, New York, Europe, Russia, Estonia, United States, Germany, Canada, France, Poland

☆ Ukraine's peace summit lacks clout as Russia, China and others stay away
▼ + stars: | 2024-06-14 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +7 min

Ukraine’s President Volodymyr Zelenskyy attends a military honour ceremony on June 7, 2024 in Paris, France. Marc Piasecki | Getty Images News | Getty ImagesUkraine's leadership has been talking about this weekend's peace summit in Switzerland for months, desperately trying to drum up international enthusiasm for — and investment in — Kyiv's peace plan. watch nowRussia has repeatedly slammed the gathering, saying a peace summit without its participation is meaningless. Ukraine's President Volodymyr Zelenskyy accused Russia and China of working together to sabotage the summit and pressurizing other countries not to attend. Dubovyk dismissed the absence of countries like China and Saudi Arabia, saying their presence at previous, similar meetings had not helped to bring peace closer.

Persons: Volodymyr Zelenskyy, Marc Piasecki, wasn't, Russia —, What's, Joe Biden, Kamala Harris, Jake Sullivan, Zelenskyy, Putin, Shelby Magid, Viola Amherd, Ignazio Cassis, Volodymyr Dubovyk, Dubovyk Organizations: Getty, Peace, Kremlin, CNBC, Kyiv, House, Omaha Beach, Anadolu, Council's Eurasia, Ukraine, Swiss, Democratic, Center for Locations: Paris, France, Switzerland, Peace, Ukraine, Swiss, Bürgenstock, Russia, China, Saudi Arabia, Brazil, India, South Africa, Turkey, Europe, Asia, Africa, Latin America, cyberattacks, Central, Eastern Europe, U.S, California, Hollywood, Moscow, Normandy, Ukrainian, Bern, Russian, Kharkiv

☆ Nelson Peltz's Trian amasses stake in pest control giant Rentokil
▼ + stars: | 2024-06-11 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Nelson Peltz's Trian Partners has amassed a significant stake in Terminix parent Rentokil and is seeking to engage with leadership on "ideas and initiatives to improve shareholder value," a spokesperson told CNBC Tuesday. That would mean that its stake is valued at more than $400 million, or at least 3% of shares outstanding. A spokesperson for Rentokil, which is headquartered in London, did not immediately respond to CNBC's request for comment. The news of his stake in Rentokil, reported earlier by Bloomberg, comes shortly after Trian disposed of its remaining stake in Disney. Peltz earlier this year ran an unsuccessful campaign for board seats at the entertainment giant.

Persons: Nelson Peltz, Nelson Peltz's Trian, Trian's Peltz, Heinz, Trian Organizations: Trian Fund Management, Future Investment Initiative, Summit, Nelson Peltz's Trian Partners, CNBC, Rentokil, Proctor & Gamble, Bloomberg, Disney Locations: Miami , Florida, London, Rentokil

☆ Fed's Kashkari wants to see 'many more months' of positive inflation data before a rate cut
▼ + stars: | 2024-05-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — The Federal Reserve should wait for significant progress on inflation before cutting interest rates, Minneapolis Federal Reserve President Neel Kashkari told CNBC Tuesday. Asked what conditions were needed for the Fed to cut rates once or twice this year, Kashkari said: "Many more months of positive inflation data, I think, to give me confidence that it's appropriate to dial back." He said the central bank could potentially even hike rates if inflation fails to come down further. He noted that the central bank may consider raising its target rate in the future, but said it was not appropriate to "move the goal posts" at this stage. The Bank of England is also broadly expected to cut rates this summer.

Persons: Neel Kashkari, Kashkari Organizations: Minneapolis Federal, CNBC, Fed, European Central Bank, ECB, Bank of England Locations: U.S

☆ 'Be like Buffett' and buy the dip in Apple stock before its next iPhone announcement, analyst says
▼ + stars: | 2024-04-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Investors should imitate Warren Buffett and buy Apple while it's cheap, Bernstein's Toni Sacconaghi said. He says the stock is attractively priced, pushed down by cyclical issues in China, not due to fundamental problems. The stock will also see boosted upside from its forthcoming iPhone 16 cycle, he told CNBC. AdvertisementInvestors should grab Apple because it's looking cheap, Bernstein said on Monday, turning bullish on the stock for the first time in years. "What we found is, we're getting a price break on it," Sacconaghi told CNBC Tuesday.

Persons: Warren Buffett, Toni Sacconaghi, —, Bernstein, Buffett, we're, Sacconaghi, Apple's Organizations: Apple, CNBC, Service Locations: China, Bernstein's

☆ General Electric, once America’s iconic everything company, has completed its dismantling. Here’s what that means
▼ + stars: | 2024-04-02 | by ( Chris Isidore | Matt Egan | ) edition.cnn.com time to read: +4 min

The company was founded by Thomas Edison in 1892 and built into the world’s largest and most valuable company by the once legendary, but now oft-criticized CEO Jack Welch. General Electric home appliances are displayed for sale at an appliance store in San Jose, California, in 2019. But the despite the name, the company had already sold off its appliance business three years earlier. Its shares nearly doubled, rising 95%, in 2023, and were up another 37% this yearGE Aerospace will retain the longtime GE stock symbol, and Culp as its CEO. Some have suggested he could be the successor for Dave Calhoun, the retiring CEO of another troubled iconic US company, Boeing.

Persons: Thomas Edison, Jack Welch, Larry Culp, David Paul Morris, divestitures, Culp, Jason Redmond, Dave Calhoun Organizations: New, New York CNN, GE, Dow Jones, Walgreens Boots Alliance, General Electric, Bloomberg, Getty, NBC, Comcast, GE Capital, AAA, GE Healthcare, GE Aerospace, GE Vernova, Boeing, CNBC Locations: New York, San Jose , California, China, Everett , Washington, AFP

☆ Baltimore bridge collapse poses little threat to U.S. economic growth, experts say
▼ + stars: | 2024-03-26 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Auto companies like BMW and Volkswagen will likely be hit hardest at first, he added, given their heavy reliance on the Baltimore port. Regional economyFor the city of Baltimore, though, the economic impacts of the bridge collapse will hit harder and last longer. The Baltimore port directly employs over 15,000 workers and indirectly supports nearly 140,000 jobs via other port activities, according to Maryland Gov. Baltimore port employees could be temporarily furloughed, or see disruption in their work hours amid the shutdown. "The bridge collapse is the latest challenge for Northeast U.S. supply chains," said S&P Global Head of Supply Chain Research Chris Rogers.

Persons: Francis Scott Key, Roberto Schmidt, Baltimore's Francis Scott Key, Joseph Brusuelas, DALI, Joe Biden, Brusuelas, Mark Zandi, Wes Moore, Zandi, Research Chris Rogers, It's, we've Organizations: AFP, Getty, RSM, Auto, BMW, Volkswagen, Depot, IKEA, shipper FedEx, CNBC, Maryland Gov, Afp, Northeast, Supply, Research, Others Locations: Baltimore , Maryland, Singapore, Baltimore, of Baltimore, Port, United States, of LA, Northeast U.S, Sea, Panama

The BOJ will now look to utilize its short-term interest rate as its primary policy tool. It will employ an interest rate of 0.1% to current account balances held by financial institutions at the central bank from March 21, while encouraging the uncollateralized overnight call rate (another interest rate used as a policy lever by the bank) to remain at around 0 to 0.1% — effectively raising interest rates from -0.1% previously. It would resort to "nimble responses" in the form of increased Japan government bond purchases and fixed-rate purchases of JGBs, among other things, if there is a rapid rise in long-term interest rates. Japanese investors have looked elsewhere for better returns given years of artificially depressed interest rates in their home market. The Fed is due to announce its own interest rate decision on Wednesday.

Persons: Japan Alexander Spatari, Kazuo Ueda, Rob Carnell, BOJ, Ueda, Michael Brown, —, JGBs, Vishnu Varathan, Hayden Briscoe, Briscoe Organizations: Japan's, Japan Inc, Asia, ING, CNBC, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Mizuho Financial Group, Bank of America, Barclays, U.S . Federal, UBS Asset Management Locations: Dotonbori, Japan, Japan's, U.S, Mizuho's, Asia

☆ Bank of Japan may exit its negative rate policy next week. Here's what you need to know
▼ + stars: | 2024-03-13 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +3 min

Speculation is swirling that the Bank of Japan may move to exit the world's last negative rate policy as early as next week, when policymakers gather for their March meeting. "We continue to expect that the BOJ will terminate NIRP in April," Goldman Sachs economists led by Tomohiro Ota wrote in a Tuesday note, referring to the negative interest rate policy. "While a March rate hike cannot be ruled out, we believe that the BOJ's communications at this juncture are not clear enough to justify assuming the March hike as the base case scenario." "The Bank of Japan has no right to keep monetary policy where [they are now]. The economy is not in any shape or form to have that ultra-loose monetary policy and quantitative easing, which we have been calling a major policy error," Amir Anvarzadeh, a market strategist at Asymmetric Advisors, told CNBC Tuesday.

Persons: Goldman Sachs, Tomohiro Ota, Kazuo Ueda, Amir Anvarzadeh Organizations: Bank of Japan, Asymmetric Advisors, CNBC Locations: NIRP, Japan

☆ China's 5% GDP goal is 'attainable' but it won't be easy, says Hong Kong's financial secretary
▼ + stars: | 2024-03-05 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China's GDP target of 5% for 2024 is possible, but it won't be easy to achieve, Hong Kong's financial secretary told CNBC Tuesday after Beijing set a growth target of "around 5%" for this year. I think this is attainable, although it's not easy," Hong Kong's Financial Secretary Paul Chan told CNBC's Emily Chan, highlighting bright spots in China's export sector and domestic consumption. So this represents also a huge market for China's export," Chan said, adding that "we expect the export situation of the mainland will improve particularly into developing Asia." Domestic consumption is also a key driver for the city's growth in the short term, said the financial secretary. Hong Kong's GDP is projected to grow 2.5% to 3.5% this year.

Persons: it's, Paul Chan, CNBC's Emily Chan, Chan, Goldman Sachs Organizations: CNBC, Kong's, ASEAN, Association of Southeast, Nations, U.S . Locations: Beijing, China, Asia, U.S, Macao, Hong Kong

☆ Here’s what bitcoin’s chart says about its next moves after it breached $50,000 this week
▼ + stars: | 2024-02-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin broke through $50,000 to start the week and although a stubbornly high inflation reading has pulled it lower since, the cryptocurrency is still in safe territory, according to chart analysts. On Monday, the cryptocurrency finished above $50,000 – at one point rising to $50,334.00, its highest level since December 2021. BTC.CM= YTD mountain Bitcoin year-to-date Other chart analysts echoed that investors need not be too concerned about a significant decline from here. "Old resistance becomes support and that $46,000 to $48,000 can then become the jumping board for a continuation of the rally." Katie Stockton of Fairlead Strategies agreed the bitcoin chart supports "a long-term bullish bias."

Persons: Bitcoin, bitcoin, Wolfe, Rob Ginsberg, Ginsberg, Julius de Kempenaer, De Kempenaer, Katie Stockton, it'll, Stockton Organizations: CNBC, Fairlead Locations: overbought

People attend the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 18, 2024. Javier MileiArgentina's President Javier Milei delivers a speech at the World Economic Forum (WEF) meeting in Davos on January 17, 2024. Sam AltmanSam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. He said AGI could be developed in the "reasonably close-ish future," speaking at a private gathering at the Bloomberg House in Davos, Switzerland. AI took a huge leap forward in the last year or two years," Benioff said on a World Economic Forum panel Thursday.

Persons: Denis Balibouse, Donald Trump, Ursula von der, Ursula von der Leyen, Jamie Dimon Jamie Dimon, JPMorgan, Adam Galici, Jamie Dimon, Dimon, Larry Fink's, bitcoin, Volodymyr Zelenskyy, CNBC's Andrew Ross Sorkin, Vladimir Putin, Zelenskyy, Putin, Javier Milei, Fabrice COFFRINI, FABRICE COFFRINI, Fabrice Coffrini, Milei, Adena Friedman Adena Friedman, Adena Friedman, Friedman, Sam Altman Sam Altman, Sam Altman, Altman, Antony Blinken Antony Blinken, CNBC Putin, Antony Blinken, Blinken, Trump's, it's, Christine Lagarde, Emmanuel Macron, Macron, Dmytro Kuleba, Arnd Wiegmann, Trump, Vladimir, Ukraine's, Kuleba, Michelle Yeoh Michelle Yeoh, Mike Coppola, Michelle Yeoh, CNBC's Tania Bryer, Yeoh, Pedro Sanchez Spanish, Pedro Sanchez, Isabel Infantes, Sanchez, Li Qiang Li Qiang, Li Qiang, Li, Isaac Herzog, Kfir Bibas, Herzog, Kfir, Hossein Amir, Abdollahian, Atta Kenare, Joe, Biden, Netanyahu, Amir, Sergio Ermotti, MICHAEL BUHOLZER, Ermotti, Marc Benioff Marc Benioff, Salesforce, CNBC's Sara Eisen, Marc Benioff, Benioff, Ray Dalio Ray Dalio, Bridgewater, Ray Dalio, Dalio, Mark Carney Mark Carney, DANIEL LEAL Organizations: Economic, Reuters, European, JPMorgan Chase, CNBC, BlackRock, Getty, Afp, NASDAQ, CNBC Nasdaq, Reuters OpenAI, Bloomberg, State, European Central Bank, Central Bank, Reuters Ukraine's, United Nations Development, Spanish, Getty Images, Hamas, Palestinian, Hezbollah, Turkish, AFP, Iranian, Sergio Ermotti UBS, Getty Images UBS, Credit Suisse, Bridgewater Associates, U.S, Bank of England, UN, OLIVAS Locations: Davos, Switzerland, Ukraine, Gaza, Russia, China, Moscow, WEF, AFP, OpenAI, U.S, Russian, Iran, Europe, United States, Hollywood , California, Madrid, Spain, Beijing, Washington, Lebanese, Tehran, Israel, Hiroshima

☆ Trump's potential return to the White House is dominating the chat at Davos
▼ + stars: | 2024-01-17 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

watch nowSome Davos participants are already preparing their business for a potential Republican leader in the White House. "Considering what happened when President Trump was in office, his main interest is trade. He added that his company is allocating more resources to their operations in the United States so they can protect themselves against any trade disputes. "We have to produce locally, especially in the United States ... We have scenarios to be able to respond to that leadership change," he added. The United States is one of the main markets for Suntory, which is looking to expand its sales beyond China.

Persons: Donald Trump, State Rex Tillerson, Nicholas Kamm, I've, Tim Adams, Trump, Ron DeSantis, Nikki Haley, Joe Biden, Takeshi Niinami, Bill Winters, Biden Organizations: State, Economic, AFP, Getty, Institute of International Finance, CNBC, Florida Gov, South Carolina Gov, Republican, Trump, Democratic, Suntory, Congress, Standard Chartered, U.S Locations: Davos, Switzerland, DAVOS, United States, Swiss, Iowa, The Iowa, China, U.S, Washington, Beijing

☆ U.S. and allies must 'persuade countries, not dictate to them,' former UK PM Gordon Brown says
▼ + stars: | 2024-01-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Former U.K. Prime Minister Gordon Brown said Wednesday that the U.S. and other powerful nations must "persuade countries, not dictate to them" in an increasingly multipolar world. Much of the conversation at this week's World Economic Forum in Davos, Switzerland, has focused on a breakdown of trust between populations and world leaders, and how to restore it. Allianz CEO Oliver Bäte told CNBC Tuesday that an "increasing detachment of the political elite from the working class" was the "number one risk for our societies." It's no longer neoliberal economics, it's more mercantilist economics, states doing their own thing, and protectionist trade policies have become 'in' and we've seen a retreat from globalization," Brown told CNBC on the sidelines of WEF. Brown told CNBC Wednesday that he still believes this should be the template for establishing lasting peace in the region, but that it is "incredibly difficult because nobody is trusting each other at the moment."

Persons: Gordon Brown, Oliver Bäte, Brown, Tony Blair, you've, we've, Netanyahu, Mahmoud Abbas, Ehud Olmert, Saudi King Abdullah bin Abdulaziz Al Saud Organizations: Economic, Allianz, CNBC Locations: Davos, Switzerland, WEF, America, Africa, Ukraine, Gaza, Israeli, Saudi, Israel, Palestinian

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