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☆ Fact Check-Inaccurate WEF Founder Klaus Schwab family tree shared online
▼ + stars: | 2023-09-01 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

A photo that claims to depict the family tree of World Economic Forum (WEF) Founder Klaus Schwab includes multiple inaccuracies. Posts online are taking it as evidence he is related to the Rothschild banking dynasty on his mother’s side. The same image of the family tree appeared online as early as July 2021 in a conspiracy thread on Reddit (here). KLAUS SCHWAB PARENTSThe family tree notes an accurate birth year for Klaus Schwab, but the names of his parents are incorrect. The photo shared on social media includes multiple inaccuracies to falsely link Klaus Schwab to the Rothschild banking dynasty.

Persons: Klaus Schwab, Rothschild, Mayer Amschel Rothschild, Schwab, KLAUS SCHWAB, Eugen Wilhelm Schwab, Erika Epprecht, Yann Zopf, “, ”, FRED, MARIANNE SCHWAB, Marianne Schwab, Marianne Rothschild, Marianne, Klaus, nee Rothschild, Louis, Melanie Rothschild, Fred Schwab, Leslie, Madeleine, Fred, Marianne’s, LOUIS ROTHSCHILD, Marianne Schwab’s, Louis Rothschild, Louis Nathaniel von Rothschild, Countess Hildegard Johanna Caroline Marie Auersperg, Louis Nathaniel’s, Salomon Albert Anselm von Rothschild, Bettina Caroline de Rothschild, Moritz, Emma Rothschild, Spokespeople, Read Organizations: Economic, Facebook, Zekelman Holocaust, Jewish, Rothschild, Getty, Reuters Locations: Ravensburg, Germany, Frankfurt, England, United States

☆ Fact Check-Panelist did not say WEF would add vaccines to water
▼ + stars: | 2023-08-31 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

The World Economic Forum (WEF) is not planning to put vaccines in water supplies, contrary to claims in some online posts. A post on social media platform X, formerly known as Twitter, (here) reads: “The WEF wants to vaccinate you through your water now,” and boasts over 11,800 likes. “WEF never made any statement about or is having any plan to add COVID vaccines to the water.’’ He also stressed the Global Commission on the Economics of Water is an organization independent to the WEF. The WEF did not say it would add vaccines to water. A Davos panelist compared global COVID-19 vaccination rates to addressing global water issues.

Persons: Mariana Mazzucato, Yann Zopf, “ WEF, Read Organizations: Economic, Twitter, Facebook, University College London, UCL Institute for Innovation, Global Commission, Reuters Locations: Davos

☆ Salesforce shrugs off growth concerns as reenergized CEO Benioff lifts guidance
▼ + stars: | 2023-08-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Non-GAAP earnings-per-share (EPS) of $2.12 grew 78% from last year and beat the $1.90-per-share EPS predicted by analysts, Refinitiv data showed. While the solid margin beat and upside to earnings are similar to what Salesforce reported back in May, one key difference this time was the increased revenue outlook. It now expects to hit $34.7 billion to $34.8 billion, up from $34.5 billion to $34.7 billion. Salesforce raised its GAAP EPS range to $3.50 to $3.52, up from $2.67 to $2.69, and non-GAAP EPS range to $8.04 to $8.06, up from $7.41 to $7.43. Salesforce also expects its cPRO to grow slightly above 11% from last year and that's slightly better than estimates of 10.8% growth.

Persons: Refinitiv ., Salesforce, Marc Benioff, Brian Millham, Jim Cramer's, Jim Cramer, Jim, Fabrice Coffrini Organizations: Revenue, CNBC, Economic, Afp, Getty Locations: Salesforce, Americas, Europe, Africa, Asia, Davos, Switzerland

☆ A worldwide lithium shortage could come as soon as 2025
▼ + stars: | 2023-08-29 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesThe world could face a shortage for lithium as demand for the metal ramps up, with some analysts forecasting that it could come as soon as 2025. BMI, a Fitch Solutions research unit, was among those that predict a lithium supply deficit by 2025. In a recently published report, BMI largely attributed the deficit to China's lithium demand exceeding that of its supply. "We expect an average of 20.4% year-on-year annual growth for China's lithium demand for EVs alone over 2023-2032," the report stated. While that could point to a global lithium surplus next year, shortages could start to plague supply chains in 2028.

Persons: Susan Zou, Corinne Blanchard, Deutsche, Blanchard, Zou Organizations: Sigma, Bloomberg, Getty, BMI, Fitch Solutions, Economic, Rystad Energy, P, Commodity, EV Locations: Itinga, Minas Gerais, Brazil, China, skyrocket, transportations, U.S, Europe

☆ 44% of savers in their 20s and 30s want to retire by 60, but few are on track—see how you stack up
▼ + stars: | 2023-08-28 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

Some 44% of retirement savers in their 20s and 30s say they want to retire by 60, according to a recent survey from the World Economic Forum. Some investors have multiple 401(k) accounts from multiple jobs, and others are saving in other types of accounts, such as individual retirement accounts or regular brokerage accounts. Still, there's no doubt that many younger Americans currently aren't on track to retire at the current full retirement age of 67, let alone at 60. Here's how financial pros say you can calculate whether or not you'll be able to retire when — and how — you want. Then assume a withdrawal rate — what you're going to take out every year while, hopefully, your investments continue to grow.

Persons: you've, you'd, Russell Gaiser, Christine Benz, Critics Organizations: Taco Bell, Economic, CNBC, Fidelity, Morningstar, Benz

Here, workers in black uniforms churn out a brand-new electric scooter every 90 seconds, while executives review the company’s skyrocketing sales. Mehta is the 33-year-old CEO of Ather Energy, an electric scooter manufacturer that has enjoyed a recent explosion of demand. “That’s an incredible jump.”The push has been fueled by strong state support, particularly through a policy known as “FAME,” or the Faster Adoption and Manufacturing of Electric Vehicles. Electric two-wheelers on display at the Hero Electric Vehicles headquarters in Gurgaon, India, in 2021. BluSmart is an Indian ride-hailing startup that uses an all-electric fleet, relying heavily on charging infrastructure.

Persons: Tarun Mehta, Mehta, ” Mehta, pedaling, MotoCorp, ”, Brajesh Chhibber, “, Bain, That’s, Anindito Mukherjee, Anmol Singh Jaggi, Fadnavis, Chhibber, ” Chhibber, Jaggi Organizations: India CNN —, Ather Energy, “, CNN, McKinsey, Manufacturing of Electric Vehicles, EV, Economic, Ministry of Heavy Industries, Hero Electric Vehicles, Bloomberg, Getty, ” Locations: Hosur, India, Indian, Bangalore, New Delhi, Delhi, Gurgaon, Gurugram

☆ Google's plan to purge inactive accounts isn't sitting well with some users
▼ + stars: | 2023-08-19 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Google said in May that, starting in December, it would begin purging inactive accounts, a warning sign of sorts to people who use multiple logins. "I'm of the mind that email subject lines should be explicitly clear, especially if a consequence is attached to a customer's inaction," she wrote. Users commonly maintain multiple accounts, allowing them to use different email addresses for different purposes, and to store online photos and documents in separate places. But for Google, storage space on free accounts is a cost. The new policy doesn't apply to schools or businesses using Google accounts.

Persons: Ruth Porat, Sabrina Meherally, Meherally, aren't Organizations: Economic, Google, LinkedIn, Twitter Locations: Davos, Switzerland

☆ ESG’s Long History: 1700s to Today
▼ + stars: | 2023-08-19 | by ( David Uberti | ) www.wsj.com time to read: 1 min

1999U.N. Secretary-General Kofi Annan urges business leaders to adopt socially responsible policies at a time of rapid globalization. “The spread of markets outpaces the ability of societies and their political systems to adjust to them, let alone to guide the course they take,” he says at the World Economic Forum. Nicolas Asfouri/Agence France-Presse/Getty Images

Persons: General Kofi Annan, ”, Nicolas Asfouri Organizations: General, Economic, Agence France

☆ Fact Check-WEF did not announce CBDCs must be implanted to engage in society
▼ + stars: | 2023-08-15 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

The World Economic Forum (WEF) did not announce that central bank digital currencies (CBDCs) must be “implanted under your skin” for an individual to participate in society, as claimed in social media posts. The claim stems from an article published on July 10 by the People’s Voice website with the headline: “WEF Says CBDCs Must Be ‘Implanted Under Your Skin’ if You Want To Participate in Society" (ghostarchive.org/archive/QjVJW). The WEF did publish a white paper in June 2023 on the implementation of CBDCs, but it contains no mention of a need for people to implant CBDCs to engage in society (here). In the video, Werner criticises the concept of CBDCs, and questions at the end of the interviews what CBDCs will look like in the future. There is no evidence that the WEF announced CBDCs must be implanted into an individual’s skin for them to participate in society and the article making that claim cites an economist who is not affiliated with WEF.

Persons: “ WEF, CBDCs, Richard Werner, professorwerner.org, Ivor Cummins, Werner, Read Organizations: Economic, People’s, YouTube, Forum, Reuters, WEF

☆ AI is going to eliminate way more jobs than anyone realizes
▼ + stars: | 2023-08-14 | by ( Emil Skandul | ) www.businessinsider.com time to read: +16 min

We didn't see the internet coming, but AI is within viewThe adoption of groundbreaking technology is often hard to predict. The World Economic Forum estimated 83 million jobs worldwide would be lost over the next five years because of AI, with 69 million jobs created — that leaves 14 million jobs that will cease to exist during that timeframe. In the US, the knowledge-worker class is estimated to be nearly 100 million workers, one out of three Americans. The small and large compounding effects of productivity growth across many industries are central to the growth trajectory and the long-run effects of AI. This is an alarmingly trivial amount for an economy of $25 trillion GDP and over 150 million workers.

Persons: Goldman Sachs, Joseph Schumpeter, Bill Gates, David Letterman, Paul Krugman, Erik Brynjolfsson, —, Brynjolfsson, Robert Solow, Robert Gordon, provocatively, It's, Gordon, David Autor, Maria Flynn, Flynn, –, Georgia –, Emil Skandul, Tony Blair Organizations: McKinsey, Newsweek, Stanford University, Microsoft, Amazon, Cisco, Economic, International Labor Organization, Organization for Economic Co, Development, MIT, Congressional, Office, Department of Labor, Tony Blair Institute Locations: Washington, Singapore, New York, Georgia

☆ The robots are coming — and the companies building them are looking for workers
▼ + stars: | 2023-08-06 | by ( Kate Rogers | ) www.cnbc.com time to read: +4 min

But as companies adopt robots on manufacturing floors, in kitchens and on delivery routes, workers have a growing opportunity to join the ranks in helping to build and implement the technology. On the other hand, 60% of companies operating in information and technology services expect jobs to be created due to robots in the next five years. Jose A. Iglesias | Tribune News Service | Getty ImagesRobotics company Zipline is among the companies looking for employees, as it aims to add at least 100 workers. The use of automation at companies large and small has two advantages, the Association for Advancing Automation argues. It reduces challenges for workers in taking away monotonous or dangerous tasks in their day-to-day roles and it keeps companies competitive and speedy in the production process.

Persons: Jose A, Keller Rinaudo Cliffton, Rinaudo Cliffton, Jeff Burnstein, Avocados Organizations: Jobs, Iglesias, Tribune, Service, Getty, Robotics, Walmart, GNC, Toyota, Association for, Automation, Vebu Labs Locations: Miami, San Francisco , California, Rwanda, China

☆ Fact Check-False Pope Francis quote about euthanizing to fight climate change
▼ + stars: | 2023-08-04 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

Pope Francis did not say that people with disabilities and alcoholism should be euthanized to fight climate change, contrary to posts shared online. The posts include the headline: “Pope Francis Says Alcoholics, Autistic and Disabled People Should Be Euthanized To ‘Fight Climate Change,’” which belongs to an article published by The People’s Voice (archive.li/Q2vMJ) on July 28, 2023. “We must accompany death, not provoke death or help any kind of suicide,” Pope Francis said at a general audience on Feb. 9, 2022, in reference to terminally ill patients in Italy. “We confirm that this is fake news,” said Trevor Chueu, a representative for the World Economic Forum, in an email to Reuters. Pope Francis has not called for people with disabilities or alcohol use disorders to be euthanized.

Persons: Pope Francis, “ Pope Francis Says, “ Pope Francis, Francis, ” Pope Francis, “, ”, Trevor Chueu, Read Organizations: People’s, Reuters, World Economic, “ Locations: Italy

Those talks continued over the past week with Tesla discussing minute details of its plans to gain access to India's fast-growing EV market, and Modi personally tracking developments, sources say. Months after seeking clearance for its own $1 billion investment in India, BYD is no longer keen to pursue the approval, Reuters reported. India has told Tesla it will allow its Chinese suppliers into the country if they forge partnerships with local firms, just like Apple did. Tesla does not currently sell vehicles in India. "Add to that an affordable product tailored for the Indian market and it has the potential to be a hit locally."

Persons: Narendra Modi, Elon Musk, Elon, BYD, Tesla, Modi, Musk, Gaurav Vangaal, Tesla's, Sam Fiorani, Aditi Shah, Aftab Ahmed, Aditya Kalra, Shivangi Acharya, Kim Coghill Organizations: India's, India's Press, REUTERS, Economic, Indian, Reuters, EVs, Apple, Global Times, P Global Mobility, Tata Motors, Toyota, Hyundai Motor, Kia, AutoForecast Solutions, Thomson Locations: New York City , New York, U.S, India, New Delhi, Thailand, New York, China, Shanghai

[1/2] Tesla Chief Executive Officer Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China May 31, 2023. Months after seeking clearance for its own $1 billion investment in India, BYD is no longer keen to pursue the approval, Reuters reported. India has told Tesla it will allow its Chinese suppliers into the country if they forge partnerships with local firms, just like Apple did. Tesla does not currently sell vehicles in India. "Add to that an affordable product tailored for the Indian market and it has the potential to be a hit locally."

Persons: Elon Musk, Tingshu Wang, Elon, BYD, Tesla, Narendra Modi, Modi, Gaurav Vangaal, Tesla's, Sam Fiorani, Aditi Shah, Aftab Ahmed, Aditya Kalra, Shivangi Acharya, Kim Coghill Organizations: Tesla, REUTERS, Economic, Indian, Reuters, EVs, Apple, Global Times, P Global Mobility, Tata Motors, Toyota, Hyundai Motor, Kia, AutoForecast Solutions, Thomson Locations: Beijing, China, India, New Delhi, Thailand, New York, Shanghai

☆ Fact Check-Daughter of WEF leader didn't call for ‘permanent climate lockdowns’ in 2020 clip
▼ + stars: | 2023-08-02 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

There is no evidence Nicole Schwab, World Economic Forum (WEF) leader Klaus Schwab’s daughter, publicly called for “permanent climate lockdowns.” Yet, posts on social media link to a headline that says: “Klaus Schwab’s Daughter: ‘Permanent Climate Lockdowns Coming – Whether You Like It or Not.’”It stems from an article published by ‘The People’s Voice’ website on July 30 (here). Reuters did not find any credible reports that Nicole Schwab made a call for “permanent climate lockdowns” (archive.is/wip/dm6il), and a spokesperson for the WEF said to Reuters that she made no such remark. The article itself and the evidence it includes also do not show Schwab proposing permanent climate lockdowns. The article does not call for a “permanent climate lockdown,” however. The video linked in the article does not feature Nicole Schwab making a call for permanent climate lockdowns.

Persons: Nicole Schwab, Klaus Schwab’s, “ Klaus Schwab’s, ‘, Schwab, Klaus Schwab, Kunal Kumar, Covid, Kumar, Spokespeople, Read Organizations: Economic, Reuters, Indian Ministry of Housing, Urban Affairs

☆ Costa Rica prosecutor opens case into president for 'influence peddling'
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

Costa Rica's President Rodrigo Chaves Robles attends the session "Leadership for Latin America" during the World Economic Forum (WEF) 2023 in Davos, Switzerland, January 18, 2023. REUTERS/Arnd Wiegmann/File PhotoSAN JOSE, Aug 1 (Reuters) - Costa Rica's top prosecutor has opened a case against President Rodrigo Chaves and various other government officials for allegations of "influence peddling," the Attorney General's office confirmed on Tuesday. The Attorney General's office said it could not comment further because the case was in a preliminary "private" stage. It is the prosecutor's second investigation involving Chaves in less than a month, following a July 17 probe over an alleged abuse of power. Reporting by Alvaro Murillo, Writing by Isabel Woodford; Editing by Valentine Hilaire and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Costa, Rodrigo Chaves Robles, Arnd, Costa Rica's, Rodrigo Chaves, Leonel Baruch, Chaves, Alvaro Murillo, Isabel Woodford, Valentine Hilaire, Christopher Cushing Organizations: Economic, REUTERS, JOSE, Agence France, Presse, Thomson Locations: America, Davos, Switzerland, AFP

☆ 32-year-old tech worker got a $54,000 pay bump without looking for a new job—here's how
▼ + stars: | 2023-08-01 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +3 min

She wasn't happy in that line of work and researched what in-demand skills she could pick up to change careers. After taking a few free courses online, Chaze jumped into an analytics associate job in 2018 that paid $70,000 per year. Charlotte Chaze went from earning $28,000 to $158,000 as a tech worker in four years. She's now founder of Break Into Tech, a career resource to help others get their first tech jobs. And if a year or two later you're looking for a job, you're going to have a hard time remembering, what exactly did I do for this job?

Persons: Chaze, Charlotte Chaze, She's, It's, it's Organizations: Economic, undergrad, Towson University, University of Delaware, CNBC Locations: Philadelphia

A Japanese city learned the hard way this week how very wrong they were, after prompting national outrage over flyers that tried to do just that. Onomichi city, in Japan’s Hiroshima prefecture, conducted a public survey in 2017 that was used to create flyers for pregnant women later distributed to local residents, according to the city government’s website. “There are differences in the way men and women feel and think,” one flyer reads. “One of the reasons for this is the structural difference in the brains of men and women. Meanwhile, structural issues still prevent many working men and women from balancing careers with family life, with mothers often sacrificing their jobs to care for their children.

Persons: –, “, Yuko Yamada, Yukihiro Hiratani, don’t, … You’d, ”, Fumio Kishida Organizations: Tokyo CNN, Twitter, Getty, Authorities Locations: Onomichi, Japan’s Hiroshima, ”, Japan, ” Japan, United States, Sweden

☆ 10 ways artificial intelligence is changing the workplace, from writing performance reviews to making the 4-day workweek possible
▼ + stars: | 2023-07-27 | by ( Aaron Mok | ) www.businessinsider.com time to read: +13 min

Here are 10 ways AI tools such as ChatGPT have entered the workplace — and what may come out of it. Nick Patrick, the owner of the music-production company Primal Sounds Productions, told Insider he used ChatGPT to fine-tune legal contracts for clients. "You really got to find time to, like, learn this skill," Nigam previously told Insider. Companies are using AI to write their performance reviewsManagers may find writing performance reviews for their employees a tough task. He told Insider: "Any technology that increases productivity, ChatGPT included, makes a shorter workweek more feasible."

Persons: OpenAI, Nick Patrick, Shannon Ahern, hadn't, Jensen Huang, Huang, Akash Nigam, Nigam, Neil Taylor, ChatGPT, Taylor, Insider's Beatrice Nolan, Nolan, would've, Jasmine Cheng, Cheng, WorkLife, Carl Benedikt Frey, Michael Chu, iHeartMedia, Goldman Sachs, Goldman, Suumit Shah, chatbot, Anu Madgavkar, Richard Baldwin, Fran Drescher, Jezebel — Organizations: Morning, IBM, Workers, Primal Sounds Productions, Google, Twitter, Companies, Employers, Nvidia, ChatGPT, Sky News, Hulu, Spotify, Mobile, Oracle, Columbia Business School, McKinsey Global Institute, Apple, JPMorgan, Northrop Grumman, AIs, Writers Guild of America, SAG, Journalists, GMG Union of, Media Locations: Taipei, Taiwan, Oxford

☆ Randstad flags tougher job market, earnings beat forecasts
▼ + stars: | 2023-07-25 | by ( Olivier Sorgho | ) www.reuters.com time to read: +2 min

July 25 (Reuters) - Randstad (RAND.AS), the world's biggest staffing firm, on Tuesday flagged weaker demand in a "challenging" jobs market, even as it beat expectations for second-quarter core earnings. "We've had an enormous surge in demand post-COVID ... from there we have sort of gradually seen demand pull back," he added. The company's shares recouped early losses to rise 3.5% by 1013 GMT, as its quarterly core profit beat market forecasts. Underlying earnings before interest, tax and amortisation (EBITA) fell 12% to 271 million euros ($299.8 million), but exceeded the 260 million seen in a company-provided poll. An employer survey from the World Economic Forum earlier this year found that employment could decrease 2% by 2027.

Persons: Sander van't Noordende, We've, Marc Zwartsenburg, Randstad, van't Noordende, Olivier Sorgho, Jacqueline Wong, Milla Nissi, Emma Rumney Organizations: ING, Economic, Thomson Locations: U.S, Britain, China, North America, Europe, Northern Europe, Asia, Pacific, America, Gdansk

☆ There are 4 reasons why jobs are disappearing — but AI isn't one of them
▼ + stars: | 2023-07-21 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

AI isn't the foe we're making it out to be, at least according to HSBC's new Future of Work report. Over 50% of firms surveyed believe that new technologies like AI will be job creators. Interestingly, over 50% of firms surveyed believe that new technologies — including AI — will actually be job creators, not destroyers. Slightly under half of the companies surveyed believe AI technologies will lead to new jobs. And while the AI debate rages on, perhaps we're missing one crucial point: Rather than obsessing over AI costing jobs, we should be more concerned about the quality and nature of the jobs that AI will create, as Paris Marx wrote for Insider.

Persons: we're, Paris Marx Organizations: Companies, Morning, Economic, Microsoft Locations: Paris

☆ Alipay and WeChat Pay now accept Visa and Mastercard for all payments in China
▼ + stars: | 2023-07-21 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The move marks a revival of efforts by Alipay and WeChat Pay to accept foreign credit cards after they provided some limited access in late 2019. WeChat Pay is officially known as Weixin Pay in China. Alipay and WeChat Pay are dominant in digital payment services, accounting for a combined 91% market share. In 2019, Alipay and WeChat started allowing the use of foreign credit cards on their apps as Chinese regulators eased restrictions. A week later, an executive from Tencent said at a forum that the company would open wider its WeChat Pay system to international card organizations, such as Visa, starting in July.

Persons: Alipay, WeChat, ” Dennis Chang, Tencent, ”, Chen Qiru Organizations: Hong Kong CNN —, Mastercard, Ant Group, Visa, Club, Discover, World, Hangzhou, Alibaba, JCB, Greater China, “, Tencent Financial Technology, ”, People’s Bank of Locations: Hong Kong, China, Beijing, Chengdu, Hangzhou, Tianjin, People’s Bank of China

☆ Here are the biggest reasons jobs could disappear — and A.I. isn't one of them
▼ + stars: | 2023-07-20 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

As it soared in popularity, the capabilities and potential of AI became increasingly clear and more well known among the public. might not even be the biggest factor behind jobs disappearing in the future, according to a new HSBC report. Using data from the World Economic Forum's "Report on Jobs 2023," HSBC notes that just four macroeconomic trends are expected to lead to the displacement of jobs. The most common factor companies expect to lead to the loss of jobs is slower economic growth. Companies expect for example the green transition and use of Environmental, Social and Governance (ESG) standards to lead to more jobs.

Persons: ChatGPT Organizations: HSBC, Bank, Social

☆ IBM reports earnings beat, but misses on revenue
▼ + stars: | 2023-07-19 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

IBM reported second-quarter earnings on Wednesday that topped analysts' estimates as the company expanded its gross margin. Revenue: $15.48 billion, versus $15.58 billion expected, according to Refinitiv. Net income for the quarter rose 13% to $1.6 billion from $1.4 billion, or $1.72 per share, a year earlier. IBM reiterated on Wednesday that it expects between 3% and 5% revenue growth through the end of the year in constant currency. The company's infrastructure division, which includes its mainframe sales, declined 14.6% to $3.6 billion in revenue.

Persons: Arvind Krishna, James Kavanaugh, Krishna Organizations: IBM, Economic, Revenue, Intel's, Hat Linux, Health, Systems Locations: Davos, Switzerland, Refinitiv

Japanese Prime Minister Fumio Kishida set a target in June for women to hold at least 30% of executive positions at leading companies by 2030. The latest initiative to raise female management participation was announced to boost female roles from 2.2% as of July 2022. The results reflect the lack of momentum in Japan towards enhancing the role of women in the workforce to improve diversity and boost economic growth. Respondents to a Reuters survey two years ago were also pessimistic of expanding their female executive ranks. More than half of companies polled said they have hired or plan to hire female managers externally, with 45% of companies introducing or planning to introduce measures to help juggle work and home life.

Persons: Fumio Kishida, Sam Nussey, Anton, Christian Schmollinger Organizations: Japan, Nikkei, Reuters, Nikkei Research, Thomson Locations: TOKYO, Japan, China, Saudi Arabia, Turkey, Japan's

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