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☆ Iraqi Kurdish PM Cancels Meeting With Iran Minister in Protest Over Attack - Source
▼ + stars: | 2024-01-17 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

BAGHDAD (Reuters) - Iraqi Kurdish Prime Minister Masrour Barzani cancelled a meeting with Iran's foreign minister at the World Economic Forum at Davos in Switzerland in protest over Iranian missile strikes on the Iraqi Kurdish city of Erbil, a source said on Wednesday. Iran late on Monday struck Erbil, the capital of Iraq's semi-autonomous Kurdistan region, with ballistic missiles in what it said was an attack on an Israeli spy headquarters, claims vehemently denied by Iraqi and Iraqi Kurdish officials. The attack killed at least four people, including a prominent Kurdish businessman and his infant child. The Iranian strikes have led to a rare diplomatic row with Iraq's government, with Baghdad filing a complaint against Iranian "aggression" at the United Nations Security Council and recalling its ambassador to Tehran. Iraqi Prime Minister Mohammed Shia al-Sudani, a Shi'ite, was brought to power with the backing of some pro-Iranian factions, but has been keen to show his government opposes any infringement on Iraq's sovereignty.

Persons: Masrour Barzani, Saddam Hussein, Mohammed Shia, Maha El, Timour Azhari, Andrew Heavens, Sharon Singleton Organizations: Iranian, Monday, United Nations Security Council, . Locations: BAGHDAD, Kurdish, Davos, Switzerland, Iraqi Kurdish, Erbil, Iran, Iraq's, Kurdistan, Iraqi, Baghdad, Tehran, Iraq, U.S, . Iraqi

☆ 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

☆ China's economic growth is set to slow in 2024. Here's what Wall Street is predicting
▼ + stars: | 2024-01-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

China was due Wednesday to release GDP figures for 2023, and previously announced an official target of around 5% growth for the year. Despite significant growth in sectors such as tourism and electric cars, China's economy last year did not rebound from the pandemic as quickly as many banks had initially expected. watch nowThe International Monetary Fund in November also cited China's policy announcements as a reason for its decision to raise the 2023 growth forecast to 5.4%, from 5% previously. However, the IMF said it still expected China's growth to slow in 2024 to 4.6% "amid continuing weakness in the property market and subdued external demand." In the long term, analysts generally expect China's economy to slow further from a high base.

Persons: Pan Jianyong, Goldman Sachs, Morgan Stanley, Li Qiang, Haibin Zhu, Li Organizations: Co, Getty, Visual China, BEIJING —, Economic, Tuesday, UBS, Citi, JPMorgan, CNBC, China, China Economic, Monetary Fund Locations: MEISHAN, CHINA, Sichuan, Meishan, Sichuan Province, China, Davos, Beijing, decelerating

☆ Markets getting ahead of themselves on rate cuts and risk being 'self-defeating,' ECB member says
▼ + stars: | 2024-01-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Markets are "getting ahead of themselves" with rate cut expectations, the president of the Dutch central bank, Klaas Knot, told CNBC Wednesday. But a lot needs to go well for that to happen," European Central Bank member Knot said, speaking at the World Economic Forum in Davos. "Underlying that projection is an interest rate path, assumed interest rate path, that contains significantly less easing than is currently embedded in market pricing. ECB officials have largely pushed back on market expectations for interest rate cuts starting as soon as the spring. Austrian central bank head Robert Holzmann, an ECB arch-hawk, told CNBC on Monday that there were threats to the inflationary picture that could mean rates do not move lower at all this year.

Persons: Klaas Knot, Knot, Robert Holzmann Organizations: CNBC, Central Bank, Economic, ECB Locations: Dutch, Davos, Austrian

☆ Iran's foreign minister warns the U.S. not to ‘tie their destiny’ to the fate of Netanyahu
▼ + stars: | 2024-01-17 | 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 EmailIran's foreign minister warns the U.S. not to ‘tie their destiny’ to the fate of NetanyahuSpeaking to CNBC at the World Economic Forum in Davos, Iran's Foreign Minister Hossein Amir-Abdollahian discusses relations with Israel and cautions the U.S. to reconsider its relationship with the country's Prime Minister Benjamin Netanyahu.

Persons: ’, Netanyahu, Hossein Amir, Abdollahian, Benjamin Netanyahu Organizations: CNBC, Economic, Iran's, country's Locations: U.S, Davos, Israel

☆ Palantir CEO Alex Karp: Antisemitism as a prejudice has always been the canary in the coal mine
▼ + stars: | 2024-01-17 | 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 EmailPalantir CEO Alex Karp: Antisemitism as a prejudice has always been the canary in the coal mineCNBC's Andrew Ross Sorkin shares a preview his interview with Palantir CEO Alex Karp at the World Economic Forum in Davos, Switzerland.

Persons: Alex Karp, Andrew Ross Sorkin Organizations: Economic Locations: Davos, Switzerland

☆ Israel-Hamas War U.S. to Return Yemen’s Houthi Militia to Terrorism List
▼ + stars: | 2024-01-17 | by ( Michael Crowley | ) www.nytimes.com time to read: +6 min

But even the lesser label of specially designated global terrorist group could jeopardize U.S. and Saudi efforts to construct a lasting peace deal to end the conflict. The conflict created a humanitarian catastrophe that Mr. Biden, as a candidate in 2020, vowed to address. Following a debate within the Trump administration, Secretary of State Mike Pompeo designated the Houthis as a foreign terrorist organization and a specially designated global terrorist group in mid-January 2021. In February 2021, less than three weeks after Mr. Biden took office, Secretary of State Antony J. Blinken reversed Mr. Pompeo’s designations. Asked by a reporter last week whether he considered the Houthis a terrorist group, Mr. Biden did not equivocate.

Persons: Biden, Yemen’s, Trump, Jake Sullivan, Tim Lenderking, Mike Pompeo, Antony J, Blinken, Tom Cotton, Mr, ” Mr, Cotton, Ayatollah Ali Khamenei, “, ” Organizations: U.S, State Department, Economic, Sana’a Center, Strategic Studies, United Arab Emirates, United Arab, U.S . Agency for International Development, United Nations, Associated Press, Republican, United Locations: Houthi, Yemen, Iran, U.S, United States, Saudi, Gaza, Israel, Davos, Switzerland, Al Qaeda, Saudi Arabia, United Arab Emirates, Arkansas, United Arab

☆ Jamie Dimon: Trump was right about key issues and bashing MAGA will hurt Biden
▼ + stars: | 2024-01-17 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Jamie Dimon has a warning for Democrats: Don’t dismiss Trump supporters as people who are exclusively attracted to his personality. Former President Donald Trump was right about some critical issues, the JPMorgan CEO says. “I wish the Democrats would think a little more carefully when they talk about MAGA,” Dimon told CNBC on Wednesday from the World Economic Forum in Davos. Dimon, who has clashed with Trump in the past and previously described himself as “barely a Democrat,” said that people are “basically scape-goating” Trump supporters. “I don’t think they are voting for Trump because of his family values,” Dimon said.

Persons: Jamie Dimon, Don’t, Donald Trump, “, MAGA, ” Dimon, ”, ” Trump, Trump, Trump’s, Dimon, Bloomberg Television it’s, Nikki Haley, “ I’ve, Hillary Clinton’s, Barack Obama’s, Biden’s Organizations: New, New York CNN, Trump, CNBC, Economic, NATO, Republican, JPMorgan, Bloomberg Television, JPMORGAN, Wednesday Locations: New York, Davos, Dimon, China, Mexico, United States

☆ Skeptical of sending more US aid to Ukraine? Here's what Zelenskyy has to say to you.
▼ + stars: | 2024-01-17 | by ( Erin Snodgrass | Nicholas Carlson | ) www.businessinsider.com time to read: +3 min

Zelenskyy addressed skeptical American voters in response to a question posed by Business Insider. "Peace in Ukraine means peace in Europe which means peace in the world," he said. AdvertisementUkrainian President Volodymyr Zelenskyy has a clear message for American voters ahead of the 2024 election: Don't give up on Ukraine. "Peace in Ukraine means peace in Europe which means peace in the world." Trump has long been a skeptic of continued US funding to Ukraine and has championed "America First" isolationist policies instead.

Persons: Volodymyr Zelenskyy, Zelenskyy, —, Biden, Israel —, Zelenskyy's, Donald Trump, Trump, Putin Organizations: Business, Service, American, Economic, Ukraine, GOP, Kiel Institute, Republicans, Republican, NATO Locations: Davos, Ukraine, Europe, Russia, Israel, USA, Trump

FRANKFURT, Germany (AP) — Cutting interest rates too soon could threaten Europe’s progress in battling the inflation that has ravaged the economy, the head of the European Central Bank said Wednesday amid widespread speculation that the bank soon will lower rates from record highs. But higher prices have spread through the economy in the form of high prices for services and higher wages. Meanwhile, sluggish economic growth and the impact of higher interest rates on economic activity have sparked bets on rate cuts. Higher rates are the typical antidote to high inflation because they make it more expensive to borrow and buy things, reducing demand for goods. “The first question for next week's European Central Bank meeting is how the bank will react to current market pricing,” Brzeski wrote in a preview of the meeting.

Persons: Christine Lagarde, Lagarde, Carsten Brzeski, ” Brzeski, “ Organizations: European Central Bank, Bloomberg, ECB, U.S . Federal, Wall Street, Union, ING, Central Bank Locations: FRANKFURT, Germany, Davos, Switzerland, Israel, Europe, Ukraine

☆ UBS CEO says Swiss public 'indoctrinated' to worry about bank's balance sheet
▼ + stars: | 2024-01-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

UBS CEO Sergio Ermotti on Wednesday said people with concerns about the size of the bank's balance sheet are getting "indoctrinated" by academics and should "do their homework." The bank's share price has recovered from below 17 Swiss francs ($19.69) per share in the aftermath of the deal to over 25 Swiss francs as of Wednesday morning. However, the new entity's combined balance sheet is estimated to be around twice the size of the entire GDP of Switzerland, raising concerns about the concentration of risk in the Swiss economy. "If you look at risk-weighted assets as a percentage of GDP or as a percentage of our balance sheet, you will discover that the new UBS is de facto very low risk, very focused business model. The risk we have is in Swiss mortgages, in Lombard loans, in stuff that is very low risk," he said.

Persons: Sergio Ermotti, Ermotti Organizations: UBS, Credit Suisse, Swiss, CNBC, Economic Locations: Swiss, Switzerland, Davos, Lombard

☆ Former UK PM Gordon Brown says he's worried about the 'threat' of a Trump presidency
▼ + stars: | 2024-01-17 | 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 EmailFormer UK PM Gordon Brown says he's worried about the 'threat' of a Trump presidencySpeaking to CNBC's Tania Bryer at the World Economic Forum, former U.K. Prime Minister Gordon Brown discusses the Israel-Hamas war, Israel's Prime Minister Benjamin Netanyahu and the possibility of President Donald Trump returning to the White House.

Persons: Gordon Brown, he's, CNBC's Tania Bryer, Benjamin Netanyahu, Donald Trump Organizations: Former, Economic, Israel's Locations: Israel

Zelensky and Trump loom over DavosTwo people are having an outsize impact at the World Economic Forum, and one of them isn’t even there. One is Volodymyr Zelensky, Ukraine’s president, who put on a full-court press of business and global leaders at the forum in Davos, Switzerland. Zelensky isn’t the only leader at Davos worried about Trump. The Ukrainian leader has sought to shore up global business support. And the annual wine tasting hosted by Anthony Scaramucci, the financier and former Trump official, well, ran out of wine.

Persons: Volodymyr Zelensky, Donald Trump, Zelensky, Vladimir Putin, Andrew, Trump, Putin, “, ” Zelensky, Republican Party ”, DealBook, thumped, JPMorgan Chase, Steve Schwarzman, Blackstone, Ray Dalio, David Rubenstein, Carlyle, Michael Dell, John Kerry, Biden’s, Anthony Scaramucci, Christine Lagarde, Christopher Waller, Nelson Peltz’s, James Gorman, Morgan Stanley, Mary Barra, General Motors —, Bob Iger, Disney’s, Murray Auchincloss, Bernard Looney, Auchincloss, Yi Fuxian Organizations: Trump, Economic, Ukraine, Republican Party, Republican, JPMorgan, Congress Center, Dell, European Central Bank, Fed, Disney, General, BP, University of Wisconsin – Locations: Davos, Switzerland, Europe, Ukraine, American, Iowa, Bridgewater, China, Beijing, Russia, Britain, U.S, Asia, University of Wisconsin – Madison

☆ Go to the office 4 to 5 times a week if you're young and want to score a promotion, says a corporate leader
▼ + stars: | 2024-01-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Read previewJunior employees should show up at the office more often if they want to score promotions, says a corporate leader. "If you're asking me my opinion on how you succeed in your career," Kevin Ellis, the chair of PricewaterhouseCoopers UK, said. With AI now a part of the workplace, face time and getting people together in the office is important, he added. Companies have been struggling with how to manage remote work following the COVID-19 pandemic. That's because, as my colleague Amanda Goh wrote last year, the generation still can't make up its mind about going into the office.

Persons: —, Kevin Ellis, Ellis, Jamie Dimon, Goldman Sachs, David Solomon —, Gen Z —, Amanda Goh Organizations: Service, Business, PricewaterhouseCoopers, Bloomberg, Economic, JPMorgan Chase Locations: Davos, Switzerland

☆ Ukraine war latest updates: Putin hails military gains in Ukraine; Blinken warns of 'real problem' if Kyiv gets no extra funding
▼ + stars: | 2024-01-17 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Polish President Andrzej Duda told CNBC Tuesday that Ukraine's refusal to cede ground to Russia in any prospective peace talks was "perfectly understandable." "To me, as the president of Poland, it's perfectly understandable. He told CNBC that "all those voices who are saying that we probably should have some kind of political process, talks or discussions, they somehow don't hear what Mr. Putin is saying," Rinkēvičs told CNBC on Tuesday. When asked to comment on Sunday's talks, the Kremlin's Press Secretary Dmitry Peskov told CNBC, "We find these negotiations strange without our participation. Read more on the story here: 'Perfectly understandable': Russia's neighbors back Ukraine's refusal to negotiate on peace talks— Holly Ellyatt

Persons: Andrzej Duda, Duda, Volodymyr Zelenskyy, Vladimir Putin, CNBC's Steve Sedgwick, Latvia's, Edgars, Putin, Rinkēvičs, Sunday's, Dmitry Peskov, — Holly Ellyatt Organizations: CNBC, Economic, Kremlin's Locations: Russia, Davos, Poland

☆ Crypto firm Ripple explored IPO outside of U.S. because of 'hostile' SEC, won't go public soon
▼ + stars: | 2024-01-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

In this article XRP.CM= Follow your favorite stocks CREATE FREE ACCOUNTwatch nowDAVOS, Switzerland — Ripple explored markets outside the U.S. for its initial public offering, CEO Brad Garlinghouse told CNBC, blaming a "hostile" regulator. However, the firm has put any plans for an IPO on hold for now, Garlinghouse said. Garlinghouse told CNBC in 2022 that Ripple, the company behind the cryptocurrency XRP , will explore a public listing after its lawsuit with the U.S. Securities and Exchange Commission ends. The Ripple CEO said his company has not gone public in the U.S. yet because of the SEC's actions. The SEC sued Coinbase last year alleging that the company was acting as an unregistered broker and exchange.

Persons: Brad Garlinghouse, Garlinghouse, Coinbase, Gary Gensler Organizations: CNBC, U.S . Securities, Exchange Commission, Economic, SEC, U.S Locations: DAVOS, Switzerland, Davos, U.S, United States

☆ Advance of far-right parties is the ‘biggest concern’ for Western democracies, Spain’s Prime Minister says
▼ + stars: | 2024-01-17 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +1 min

Spanish acting Prime Minister Pedro Sanchez during the investiture debate at the Spanish Parliament on Nov. 15, 2023 in Madrid, Spain. The rise of far-right political groups is the "biggest concern" for Western democracies, Spanish Prime Minister Pedro Sánchez told CNBC. "I think that not only the [political] fragmentation, but the advance of the far-right, it is something … I would say [it is] the biggest concern for Western democracies," Sanchez said at the World Economic Forum in Davos, Switzerland. His comments come in a year set to bring voters to the polls in several countries worldwide, which will include European Parliament elections in June. In France, Marine Le Pen's National Rally party has grown in popularity in the polls, while Geert Wilders' Freedom Party recorded a decisive victory in Netherlands' general elections in November.

Persons: Pedro Sanchez, Pedro Sánchez, Sanchez, Geert Wilders Organizations: Spanish, CNBC, Economic, Freedom Party Locations: Madrid, Spain, Davos, Switzerland, France, Netherlands

☆ Watch CNBC's full interview with Poland's President Andrzej Duda
▼ + stars: | 2024-01-17 | 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 EmailWatch CNBC's full interview with Poland's President Andrzej DudaPoland's President Andrzej Duda speaks to CNBC from the World Economic Forum in Davos, Switzerland.

Persons: Andrzej Duda Organizations: CNBC, Economic Locations: Davos, Switzerland

☆ Thai firework factory explosion: Around 10 killed in blast, police say
▼ + stars: | 2024-01-17 | by ( Kocha Olarn | ) edition.cnn.com time to read: +1 min

Bangkok, Thailand CNN —At least 10 people have died following an explosion at a fireworks depot in central Thailand, according to officials. It was not immediately clear what caused the explosion, which happened at around 4 p.m. local time (4 a.m. ET) on Wednesday in Suphan Buri province, north of Thailand’s capital Bangkok, local police said. At least 12 people were killed and 121 injured in an explosion in July last year at a fireworks warehouse in the southern village of Mu No. Prime Minister Srettha Thavisin was briefed on the explosion while he was at the World Economic Forum in Davos, Switzerland, and ordered an urgent investigation to see if the explosion was caused by negligence, Reuters reported.

Persons: “, Peerapoj Rawangbarn, Srettha Thavisin Organizations: Thailand CNN, ”, CNN, Police, Economic, Reuters Locations: Bangkok, Thailand, Suphan Buri, Thailand’s, Mu, Davos, Switzerland

☆ Ukraine's Ally Poland Looking Into How to Make More Ammunition - Foreign Minister
▼ + stars: | 2024-01-17 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

By Antoni SlodkowskiDAVOS, Switzerland (Reuters) - Poland's new government is looking into how it can make more ammunition and military equipment as it works on a new aid package for Ukraine, Foreign Minister Radoslaw Sikorski said in Davos on Wednesday. "We're examining what options we have of making more ammunition and equipment and also what we still have in our stores." Sikorski's remarks indicated Warsaw is looking into ways to produce more ammunition and military hardware to be able to send more military aid to Kyiv. Sikorski acknowledged that Ukraine and Poland, which is a member of both the EU and NATO, must keep working on resolving challenges. Sikorski said Poland was "back from a faraway trip into populism" after eight years of PiS in power.

Persons: Antoni Slodkowski, Radoslaw Sikorski, Sikorski, Sikorski's, Mr Putin, he'd, Polish hauliers, PiS, Alan Charlish, Timothy Heritage Organizations: Wednesday, European Union, Ukrainian hauliers, Kyiv, Reuters, Economic, Law and Justice, TRUCKERS Sikorski, EU, NATO Locations: Antoni Slodkowski DAVOS, Switzerland, Ukraine, Davos, Warsaw, European, Swiss, Polish, Poland, U.S

☆ Mega rich renew call on global leaders at Davos to 'tax our extreme wealth'
▼ + stars: | 2024-01-17 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Austrian Marlene Engelhorn, who inherited from her family who owns the Germany's chemical giant BASF, poses with a placard reading "Tax the rich!" at the entrance of the Congress center on the opening of the annual meeting of the World Economic Forum (WEF) in Davos, on January 15, 2024. In an open letter to political leaders gathered at the annual World Economic Forum in Davos, Switzerland, the rich signatories said they wished to deliver a clear message: "Tax our extreme wealth." "We are surprised that you have failed to answer a simple question that we have been asking for three years: when will you tax extreme wealth?" But it will turn extreme and unproductive private wealth into an investment for our common democratic future."

Persons: Marlene Engelhorn, Fabrice COFFRINI, FABRICE COFFRINI, Abigail Disney, Simon Pegg, Valerie Rockefeller, Brian Cox, Logan Roy, Cox Organizations: BASF, Economic, Getty, Oxfam Locations: Davos, AFP, Switzerland, HBO's

☆ These are the skills employers are looking for as AI use expands, according to leaders at Davos
▼ + stars: | 2024-01-17 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +5 min

Read previewSince the release of ChatGPT just over a year ago, it's become increasingly clear that the world will have to adapt as the influence of generative AI grows. And that's been borne out at this year's World Economic Forum in Davos, where AI has been a key topic. Business Insider spoke to industry leaders from companies including McKinsey, KPMG, IBM, and Coursera about the skills they believe will be important in the era of generative AI. Know how to optimize data for generative AI. "Being able to look at data, evaluate data, cleanse data, anonymize data — all that — is going to be even more important than historically it's been," Knopp said.

Persons: —, it's, Katy George, George, Paul Knopp, Knopp, that's, Jeff Maggioncalda, Maggioncalda, John Granger, Granger Organizations: Service, Business, Economic, McKinsey, KPMG, IBM, KPMG US, IBM Consulting, Employees Locations: Davos, Maggioncalda

☆ 2024 will be a perilous year for the world economy as geopolitical tensions ramp up, top economists warn
▼ + stars: | 2024-01-17 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Top economists are fretting about geopolitical tensions, according to a World Economic Forum survey. AdvertisementThe year 2024 will likely be a stormy one for the global economy as growth slows and geopolitical tensions ramp up around the world, according to a World Economic Forum survey. More than half the respondents said the world economy will get weaker this year, and 70% predicted looser financial conditions – implying that they believe central banks, including the US Federal Reserve, will start lowering interest rates at some point in 2024. Advertisement"Amid accelerating divergence, the resilience of the global economy will continue to be tested in the year ahead," WEF managing director Saadia Zahidi said. "Though global inflation is easing, growth is stalling, financial conditions remain tight, global tensions are deepening and inequalities are rising."

Persons: they're, Ray Dalio, Jamie Dimon, —, Saadia Zahidi, JPMorgan Chase, aren't Organizations: Service, US Federal Reserve, JPMorgan, Sunday Times, Bridgewater Associates Locations: Swiss, Davos, Ukraine, China, Chicago

☆ A Turbulent Year May Lie Ahead—CEOs at Davos Are Optimistic
▼ + stars: | 2024-01-16 | by ( Chip Cutter | Emily Glazer | ) www.wsj.com time to read: 1 min

Ramon Laguarta, chief executive at PepsiCo, said in an interview at Davos that while inflation in agriculture is still a challenge, his company is more agile and skilled at optimization after responding to the Covid-19 pandemic. DAVOS, Switzerland—CEOs and business leaders gathered at the World Economic Forum are feeling increasingly confident about the U.S. economy and the strength of consumer demand, despite protracted conflicts around the world, a looming U.S. election and worries about new trade disruptions. The dueling sentiments on display this week reflect hopes of a so-called soft landing in the U.S., as inflation cools and the labor market remains strong. Many leaders also expect the Federal Reserve to lower interest rates this year, potentially opening up more dealmaking and spending.

Persons: Ramon Laguarta Organizations: PepsiCo, Federal Reserve Locations: Davos, DAVOS, Switzerland, U.S

☆ Chinese Premier Makes Surprise Economic Growth Disclosure
▼ + stars: | 2024-01-16 | by ( Jason Douglas | ) www.wsj.com time to read: 1 min

Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like Malaysia’s Forest City in doubt. Here’s how overbuilding, and a streak of bad luck, have left China’s real-estate developers in the red. Photo: Adam AdadaChinese Premier Li Qiang gave global business elites a big hint on highly anticipated growth figures, as he sought to reassure them that investing in China is an opportunity—not a risk. Li delivered the message in an address at the World Economic Forum in Davos, Switzerland, as Chinese leaders seek to stem an exodus of foreign investment with growth slowing and relations deteriorating with the U.S.-led West.

Persons: Adam Adada, Li Qiang, —, Li Organizations: Malaysia’s Forest City, Economic, U.S Locations: Malaysia’s Forest, China, Davos, Switzerland

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