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☆ China’s economy grew by about 5.2% in 2023, Premier Li tells Davos meeting
▼ + stars: | 2024-01-16 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s economy grew by about 5.2% in 2023, slightly better than the official target Beijing had set, Premier Li Qiang said Tuesday at the World Economic Forum’s annual meeting in Davos, Switzerland. “In the past year of 2023, China’s economy has generally rebounded and improved,” the country’s second highest official told the meeting of global business and political leaders. While this expansion would mark a significant pick-up over 2022, when China’s economy grew by just 3%, it is still one of the country’s economic worst performances in over three decades. “Even if there are twists and turns in China’s economic operation, its overall long-term positive trend will not change,” said Li. The premier is the most senior Chinese leader to attend the Davos forum in person since President Xi Jinping in 2017.

Persons: Li Qiang, Hong, Seng, ”, Li, Xi Jinping, Viola Amherd, Joe Biden, BRENDAN SMIALOWSKI, Xi Organizations: Hong Kong CNN, Beijing, Swiss, Economic Cooperation, APEC, Getty Locations: Hong Kong, Davos, Switzerland, “, China, Beijing, Asia, Woodside , California, AFP, United States

☆ Private company valuations 'going nuts again' amid AI boom, Cisco CEO says
▼ + stars: | 2024-01-16 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

The valuations of some private companies are "going nuts again," returning to highs not seen since the Covid-19 pandemic, according to Cisco's chief executive. Chuck Robbins told CNBC Tuesday that businesses focused on new technologies like artificial intelligence were garnering price tags akin to those seen during the era of low interest rates. "When you get into gen [generative] AI and some of these other things, we are seeing some of the private valuations are going nuts again," he said during a CNBC-moderated panel event at the World Economic Forum in Davos, Switzerland. Robbins said that it was "ironic" that the cycle had recurred so soon after higher interest rates had put an end to the era of easy money and seemingly corrected sometimes overinflated valuations. "It is ironic to me that we're so quickly doing this after what we experienced 48 months ago.

Persons: Chuck Robbins, Robbins Organizations: CNBC, Economic Locations: Davos, Switzerland

WASHINGTON (AP) — President Joe Biden has invited the top four congressional leaders and other lawmakers to the White House on Wednesday as members have struggled to reach agreement on U.S. aid for the Ukraine war. Republicans have insisted on pairing it with their own demands for securing the U.S. border. Political Cartoons View All 253 ImagesWhite House national security adviser Jake Sullivan and U.S. Secretary of State Antony Blinken met with Ukraine President Volodymyr Zelenskyy at the World Economic Forum’s annual meeting in Davos this week. In an appearance Tuesday following the meeting, Sullivan said he remained confident the Biden administration would come to an agreement on Ukraine aid in the coming weeks. Republicans have demanded that the funding be paired with significant border security changes.

Persons: Joe Biden, Karine Jean, Pierre, Mike Johnson, Hakeem Jeffries, Chuck Schumer, Mitch McConnell, —, Biden, ”, Shalanda Young, Young, Jake Sullivan, Antony Blinken, Volodymyr Zelenskyy, Sullivan, we’ve, ” Sullivan, Børge Brende, “, ” Biden, Aamer Madhani, Zeke Miller, Seung Min Kim Organizations: WASHINGTON, White, Republicans, U.S, Democratic, Republican, Ukraine, Management, Pentagon, Capitol Hill, Economic, Russia, Press Locations: Ukraine, Israel, D, Ky, Kyiv, Russia, Davos, U.S, Mexico

Wells Fargo now says it pegs the odds of a recession at 40% in 2024. The Blue Chip Economic survey released last week echoed the bonhomie. More than two-thirds, 69%, of small business and 67% of midsize business leaders expressed optimism about their company’s performance. This week, members of Congress will learn the details and begin signaling whether the plan has the support of both houses. Meanwhile, in Davos, Switzerland, where many of the world’s leaders, business executives and others have gathered for the World Economic Forum’s 54th meeting, Chinese Premier Li Qiang delivered a bullish speech on China’s economic prospects.

Persons: –, Wells, “, ”, Wells Fargo, Sam Bullard, ” Bullard, JPMorgan Chase, Li Qiang Organizations: Federal Reserve, BCA Research, Federal Reserve Bank, Atlanta’s, University of Michigan, Wells, Investment Banking, JPMorgan, Capitol Locations: U.S, Davos, Switzerland

☆ Red Sea risk to oil 'very real,' prices could change rapidly if supply disrupted, Chevron CEO says
▼ + stars: | 2024-01-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The Chevron CEO said he was surprised that U.S. crude oil was trading below $73 a barrel because the "risks are very real." Shell suspends Red Sea shipmentsThe British oil major Shell has suspended shipments through the Red Sea, people familiar with the matter told The Wall Street Journal Tuesday. Shell's decision to halt shipments through the crucial trade chokepoint comes about a month after BP paused transits through the Red Sea. Several major tanker companies, which transport petroleum products such as gasoline as well as crude oil, halted traffic toward the Red Sea on Friday. The militants on Tuesday launched an antiship ballistic missile that struck a Maltese-flagged bulk carrier in the Red Sea, according to U.S. Central Command.

Persons: Michael Wirth, " Wirth, Wirth, Shell, Houthi, CENTCOM, Sullivan Organizations: Chevron, CNBC, Economic, U.S, Navy's, Shell, Red, Wall, BP, Tuesday, U.S . Central Command Locations: East, Davos, Switzerland, Yemen, Iran, Red, Gaza, The U.S, Britain, Maltese, U.S

☆ China's Taiwan approach 'has been counterproductive,' Blinken says
▼ + stars: | 2024-01-16 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

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

☆ Bill Gates explains how AI will change our lives in 5 years
▼ + stars: | 2024-01-16 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

The rise of AI has elicited fear that the technology will eliminate millions of jobs around the world. The International Monetary Fund this week reported that about 40% of jobs around the world could be affected by the rise of AI. Gates doesn’t necessarily disagree with that notion, but he believes history shows with every new technology comes fear and then new opportunity. “I have more than enough money for my own consumption,” Gates said when Zakaria asked how philanthropic efforts are going. At a rate of $9 billion a year, Gates anticipates he’ll have given away all of his money in about 20 years.

Persons: New York CNN —, Bill Gates, Gates, ” Gates, CNN’s Fareed Zakaria, OpenAI’s, ”, Zakaria, hadn’t, “ I’m, I’ll, Melinda French Gates, he’s, Warren Buffett, CNN’s “ Fareed Zakaria Organizations: New, New York CNN, Monetary Fund, Microsoft, OpenAI, Gates, World Economic, CNN Locations: New York, Davos, Africa

☆ Watch CNBC's full interview wiith Michelle Yeoh
▼ + stars: | 2024-01-16 | by ( Tania Bryer | ) 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 wiith Michelle YeohSpeaking exclusively to CNBC's Tania Bryer, actress, producer and UNDP Goodwill Ambassador, Michelle Yeoh, reveals what it means to be awarded a Crystal Award at the 2024 World Economic Forum, how she chooses the charitable causes that matter to her, and how her historic Academy Award win for Best Actress changed her life.

Persons: wiith Michelle Yeoh, CNBC's Tania Bryer, Michelle Yeoh Organizations: UNDP Goodwill, Academy

Political Cartoons View All 253 ImagesZelenskyy is following that up with his first trip to Davos as president after speaking by video in previous years. The corporate chiefs will hear “what kind of immediate assistance is needed” and lay out how private and public sectors can help Ukraine rebuild one day, forum organizers say. The session will draw NATO leader Jens Stoltenberg, German Vice Chancellor Robert Habeck and U.S. envoy for Ukraine's economic recovery, Penny Pritzker, among others. While the geopolitical situation has oozed gloom, businesses appear more hopeful — in part from prospects that artificial intelligence can help boost productivity. Leading Western stock indexes shot up in 2023, and falling inflation raised hopes of a decline in interest rates.

Persons: Volodymyr Zelenskyy, Zelenskyy, Jordan, Premier Li Qiang, Ursula von der Leyen, Jake Sullivan, Donald Trump —, Putin —, White, Viola Amherd, Jens Stoltenberg, Robert Habeck, Penny Pritzker, Gitanas Nauseda, José Manuel Albares Bueno, Satya Nadella — Organizations: European Union, Russia, Hamas, Premier, United States, Ukraine, —, Bruins, Spanish, Microsoft Locations: DAVOS, Switzerland, Swiss, Davos, United States, China, Qatar, Zelenskyy, Russia, Bern, Ukraine, ”, East, Europe

☆ Davos: Zelensky warns Putin’s war must not become ‘frozen’ as Ukraine faces shortage of weaponry and aid
▼ + stars: | 2024-01-16 | by ( Christian Edwards | Niamh Kennedy | ) edition.cnn.com time to read: +6 min

Is the third world war possible? Putin’s war was less than a year old when Zelensky last spoke at Davos via a video link in January 2023. Zelensky said the West's fears that supplying weapons would escalate the war cost Ukraine time, lives and opportunities. Speaking at Davos shortly before Zelensky, NATO Secretary-General Jens Stoltenberg said only continued support for Ukraine would make Putin to relent. “And the paradox is that, if we want that to happen… the way to get there is [to send] more weapons to Ukraine.

Persons: Volodymyr Zelensky, Zelensky, “, Putin, ” Zelensky, Valery Zaluzhny, Ukraine’s, Ursula von der Leyen, Von der Leyen, ” Von der Leyen, Ursula Von der Leyen, Gian Ehrenzeller, ’, ”, Fabrice Coffrini, Jens Stoltenberg, ” Stoltenberg Organizations: CNN, Economic, Hamas, ”, Getty, NATO Locations: Davos, Switzerland, Ukraine, Russia, Kherson, Kharkiv, Kyiv, Pyongyang, Tehran, AFP

☆ 3 reasons why investors keep sending cybersecurity giant Palo Alto Networks to record high after record high
▼ + stars: | 2024-01-16 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Palo Alto Networks CEO Nikesh Arora said Tuesday that cybersecurity demand will only intensify in 2024. Palo Alto Networks was riding a six-session winning streak, including Tuesday's all-time high above $333 per share. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance When Arora took over as CEO of Palo Alto in June 2018, the stock was around $70 per share. Late last year, Palo Alto announced plans to buy enterprise browser startup Talon Cyber Security and cloud data specialist Dig Security. Arora Nikesh, Palo Alto Networks CEO & Chairman at the WEF in Davos, Switzerland on May 23rd, 2022.

Persons: Nikesh Arora, Arora, Jim Cramer, he's, OpenAI, Sam Altman's, Estee Lauder, Clorox, Palo, we've, Morgan Stanley, Jim Cramer's, Jim, Arora Nikesh, Adam Galica Organizations: Palo Alto, Club, CNBC, Palo Alto Networks, Alto, Palo, Google, MGM Resorts, Caesars Entertainment, Security Locations: Davos, Switzerland, Palo, Palo Alto

☆ Russia Calls Ukraine Peace Meetings 'Pointless', Says Plan Can't Succeed
▼ + stars: | 2024-01-16 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Russia said on Tuesday that it was increasingly apparent to the world that Ukrainian President Volodymyr Zelenskiy's plan to resolve the nearly two-year war had no hope of succeeding and dismissed meetings devoted to it as "pointless and harmful". The fourth in a series of meetings bringing together officials from several dozen countries - but not Russia - was held this week in Davos. "All such meetings ... including the Davos gathering and those to follow it, are pointless and harmful for settling the Ukrainian crisis." Russia is pointedly not invited to the meetings centred on Zelenskiy's peace plan, which calls for withdrawal of all Russian troops from Ukraine, recognition of its 1991 post-Soviet borders and a mechanism to bring Moscow to account. The Swiss government agreed after the latest gathering on Zelenskiy's peace plan to host a global peace summit on Ukraine at Zelenskiy's request.

Persons: Volodymyr Zelenskiy's, Zelenskiy, Vladimir Putin, Andriy Yermak, Dmitry Peskov, Ron Popeski, Rosalba O'Brien Organizations: Reuters, Economic, Kyiv, Staff, Davos Locations: Russia, Davos, Russian, Ukraine, Moscow, Swiss

☆ Premarket stocks: The rich and powerful are meeting in Davos. Here’s what they’re talking about
▼ + stars: | 2024-01-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Climate catastrophes: Climate change is a hot topic as leaders meet to discuss balancing economic growth with sustainability. Davos comes just days after scientists around the globe reported that the average temperatures last year reached a new record high. The report also said that cooperation among global leaders on the issue is scarce. So while leaders will likely discuss the use of fossil fuels and green development, there may not be much agreement. Leaders gathered in Davos Sunday to discuss Ukrainian President Zelensky’s 10-point peace plan to end Russia’s war with his country.

Persons: Isaac Herzog, Volodymyr Zelensky, Emmanuel Macron, Li Qiang, Antony Blinken, Jake Sullivan, John Kerry, Satya Nadella, Sam Altman, Jamie Dimon, Brian Moynihan, Larry Fink, Donald Trump, ”, Philipp Hildebrand, CNN’s Richard Quest, ” “, ” Nicolai Tangen, CNN’s, “, Kristalina Georgieva, OpenAI’s Altman, Microsoft’s, Zelensky’s, JPMorgan’s Dimon, Herzog, Klaus Schwab, Tami Luhby, Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, Warren Buffett, Nabil Ahmed, ” Ahmed, Jordan Valinsky, Comité Organizations: New, New York CNN, World Economic, National, Business, Microsoft, JPMorgan, Bank of America, BlackRock, Republican, GOP, ” BlackRock, Bank, Norges Bank, International Monetary Fund, IMF, State, Amazon, Oracle, Berkshire Hathaway, Oxfam, Workers Locations: New York, Davos, United States, Iowa, Europe, Taiwan, India, Mexico, China, Covid, Champagne, France

The steps will apply specifically to OpenAI, only one player in an expanding universe of companies developing advanced generative AI tools. Starting “early this year,” OpenAI said, it will digitally watermark AI images created using its DALL-E image generator. “Will there be items that slip through the cracks?”OpenAI's ChatGPT and DALL-E are some of the most powerful generative AI tools to date. But there are many companies with similarly sophisticated technology that don't have as many election misinformation safeguards in place. OpenAI CEO Sam Altman said that even with all of his company’s safeguards in place, his mind is not at ease.

Persons: —, OpenAI, ” OpenAI, Mekela Panditharatne, “, ChatGPT, ”, Darrell West, Sam Altman, “ We’re Organizations: San, National Association of, State, Brennan Center for Justice, YouTube, Meta, Center for Technology Innovation, Bloomberg, Economic, Associated Press, AP Locations: San Francisco, U.S, Davos, Switzerland

With fighting still raging in Ukraine, and a front line that has barely shifted in more than a year, the country’s president, Volodymyr Zelensky, headed on Tuesday to the World Economic Forum in Davos, Switzerland, amid a swirl of diplomatic discussions about possible peace talks. In his speech, he promoted a Ukrainian peace plan and called for stiffer sanctions on Russia. But in a contrast with his comments to the forum last year, Mr. Zelensky made no direct appeals for weaponry for new offensives on the battlefield. “We need you in Ukraine to build, to reconstruct, to restore our lives,” he told the audience of investors. “Each of you can be even more successful with Ukraine.”

Persons: Volodymyr Zelensky, Zelensky, ” Organizations: Economic Locations: Ukraine, Davos, Switzerland, Ukrainian, Russia

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

☆ OpenAI Bans Use of AI Tools for Campaigning, Voter Suppression
▼ + stars: | 2024-01-15 | by ( Asa Fitch | ) www.wsj.com time to read: 1 min

OpenAI Chief Executive Sam Altman at the World Economic Forum in Switzerland on Monday. Photo: Hollie Adams/Bloomberg NewsOpenAI outlined limits on using its tools in politics during the run-up to elections in 2024, amid mounting concern that artificial-intelligence systems could mass-produce misinformation and sway voters in high-profile races. OpenAI’s ChatGPT and Dall-E are some of the most powerful AI chatbot and image-generation applications available. The growth of such tools has raised worry that software made by OpenAI and its peers could be used to manipulate voters with false news stories and computer-generated images and video.

Persons: Sam Altman, Hollie Adams, OpenAI’s ChatGPT Organizations: Economic, Bloomberg, OpenAI Locations: Switzerland

☆ Crash Parties, Escape Dull Chitchat and Make Powerful Friends: What Davos Elites Know
▼ + stars: | 2024-01-15 | by ( Chip Cutter | Emily Glazer | ) www.wsj.com time to read: 1 min

For a master class in power networking, it’s tough to beat the one taking place in the Swiss Alps this week. The annual World Economic Forum brings the planet’s power brokers together for morning-to-past-midnight meetings over coffee, cocktails and fondue. For the thousands of CEOs, billionaires, intellectuals and world leaders descending on Davos, the setting is unrivaled in its potential to spark relationships, dealmaking and big ideas for the year ahead. After all, there are few other places where you can run into Al Gore at the hotel bar and wait next to Bill Gates to pass through the metal detectors.

Persons: Al Gore, Bill Gates Locations: Swiss, Davos

☆ European markets set to start new trading week in positive territory; investors prepare for Davos
▼ + stars: | 2024-01-15 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are expected to open higher Monday as investors in the region gear up for the World Economic Forum in Davos, Switzerland. Titled "Rebuilding Trust," this year's forum runs from Jan. 14-19. Global business and political leaders will meet in the Swiss ski resort to discuss economic and geopolitical matters. This year, global trade, inflation, supply chains, technological change and wars in the Middle East and Ukraine are expected to top the agenda. Perhaps the most heavyweight political figures set to be in attendance are China's second-in-command Li Qiang and French President Emmanuel Macron, who will both give special addresses.

Persons: Li Qiang, Emmanuel Macron Organizations: World Economic, Global Locations: Davos, Switzerland, Jan, Swiss, East, Ukraine

☆ South Africa's genocide case against Israel has 'global support,' finance minister says
▼ + stars: | 2024-01-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

South Africa's legal case accusing Israel of committing genocide against Palestinians in Gaza has "global support," the country's Finance Minister Enoch Godongwana told CNBC Monday. A two-day hearing last week at the International Court of Justice in the Hague, Netherlands, saw South African lawyers lay out arguments alleging that Israel's bombardment of Gaza that has caused massive casualties was tantamount to genocide. "Supporters of Israel of course, including the U.K., will say our application is nonsense but there is global support for our view that in fact, our case was substantive and we have argued our case." Turkey, Jordan, Brazil, Colombia, Bolivia, Pakistan and Malaysia are among the states that have publicly supported South Africa's application, along with the Organization of Islamic Cooperation. The Saudi-based organization consists of 57 member states, 48 of which are Muslim-majority countries.

Persons: Ronald Lamola, Israel, Enoch Godongwana, Godongwana Organizations: International Court of Justice, country's Finance, CNBC, South, United, Economic, Organization of Islamic Cooperation Locations: Africa's, South Africa, Israel, Gaza, The Hague, Netherlands, Hague, Africa, United Nations, Davos, Turkey, Jordan, Brazil, Colombia, Bolivia, Pakistan, Malaysia, Saudi

☆ Possible there will be no rate cuts this year, European Central Bank member says
▼ + stars: | 2024-01-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The European Central Bank may defy market expectations and hold off on starting interest rate cuts during the whole of 2024, the institution's Governing Council member Robert Holzmann said Monday. Asked about those who call for the first rate cut to take place as soon as April, Austria's central bank governor told CNBC, "I'm afraid, leaving Davos, those people will be deeply disappointed." Speaking to CNBC's Steve Sedgwick at the World Economic Forum in Davos, Switzerland, he added, "I cannot imagine that we'll talk about cuts yet, because we should not talk about it. "Unless we see a clear decline towards 2%, we won't be able to make any announcement at all when we're going to cut," Holzmann said. Correction: This story has been updated to reflect the name of CNBC anchor Steve Sedgwick.

Persons: Robert Holzmann, Steve Sedgwick, Holzmann, Yemen's Organizations: European Central Bank, CNBC, Economic, InTouch Capital Locations: Austria's, Davos, Switzerland, Israel

☆ I'm at the World Economic Forum and I'm blown away by the beauty of Davos
▼ + stars: | 2024-01-15 | by ( Spriha Srivastava | ) www.businessinsider.com time to read: +2 min

I'm attending the World Economic Forum in Davos, Switzerland. Taking the train from Zurich to Davos makes for a picturesque journey. AdvertisementSome of the world's wealthiest and most powerful people are landing in Davos, as the Swiss ski resort gets ready to host the World Economic Forum. Business InsiderI'm not a morning person but the views in Davos got me out of my apartment for a walk. The World Economic Forum holds its annual meeting in Davos.

Persons: I'm, —, I've, Hans Zimmer Organizations: Economic, Service, Business Locations: Davos, Switzerland, Swiss, Zurich

☆ Ukraine war live updates: Ukraine says it needs China for any peace process with Russia; Davos overshadowed by ongoing war
▼ + stars: | 2024-01-15 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Ukraine presented its plan for peace in Switzerland on Sunday, on the eve of the World Economic Forum —but with Russia absent from the event, little tangible progress was made toward peace. Presenting Ukraine's 10-point "peace formula" in Davos to delegates from 83 countries, Ukraine's presidential chief of staff Andriy Yermak said Sunday that China needs to be involved in future talks to end the war with Russia. But Russia and its ally China — seen to be one of the few countries that can influence Moscow — were not involved in the even co-hosted by Switzerland and Ukraine. Russia previously rebuffed Ukraine's peace plan, which calls for all Russian troops to leave Ukrainian territory, and described previous peace formula talks, to which it was not invited, as "absurd."

Persons: Andriy Yermak, China —, Moscow —, Ukraine's Locations: Ukraine, Switzerland, Russia, Davos, China, Moscow

☆ Top economists predict global growth will weaken this year as geopolitical rifts grow
▼ + stars: | 2024-01-15 | by ( Katrina Bishop | ) www.cnbc.com time to read: +1 min

The majority of economists surveyed by the World Economic Forum expect the global economy to weaken this year, saying that geopolitical fragmentation around the world will deepen. "Global economic prospects remain subdued and fraught with uncertainty," WEF's report, published Monday, said. The International Monetary Fund, meanwhile, expects global economic growth to fall slightly in 2024 to 2.9%, from 3% last year. WEF's survey shows significant divergence among economists' expectations for different economies, with the experts most bearish on Europe's prospects. Some 77% of those surveyed expect growth in the region to weaken this year — that's almost double the figure recorded in September's survey.

Persons: that's Organizations: World, Monetary Fund, U.S, East Locations: South Asia, East Asia, China

☆ Heading to Davos, here's what was overheard on connecting trains from Zurich to the World Economic Forum
▼ + stars: | 2024-01-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +7 min

The small Swiss Alpine town is again playing host to the World Economic Forum (WEF), where the world's top brass in finance and politics convene each year to try to solve the biggest problems that plague our planet. But the long and winding road to Davos offers another lesser-known benefit, which makes the lengthier commute well worth the while. Here's what was overheard on the connecting trains from Zurich Airport to Davos Platz. OpenAI's media representative declined CNBC's request to interview Altman in Davos, citing a "tight" schedule. One Davos attendee noted their company was in the IP space and had just raised this summer, because "the rights issue is so complicated."

Persons: MacKenzie, OpenAI, Sam Altman, Davos MacKenzie Sigalos, Altman, Marc Benioff, Albert Bourla, reminisced, Sting Organizations: Volvo, Economic, Zurich Airport, Davos Platz, Swiss National Railway, Microsoft, Pfizer, The New York Times, Switzerland Cantonal Police, Disney, Landquart Locations: DAVOS, Switzerland, Manhattan, Scalettastrasse, Davos, Swiss, Zürich, Zurich, Zürich Hauptbahnhof, Saudi Arabia, Grisons, Brazil

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