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☆ 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

☆ Top pharma CEO says preparedness for a new pandemic has not improved
▼ + stars: | 2024-01-17 | by ( Vicky Mckeever | ) www.cnbc.com time to read: 1 min

Vas Narasimhan, chief executive officer of Novartis AG, listens during a panel session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 22, 2019. Vas Narasimhan, CEO of pharmaceutical firm Novartis, told CNBC Tuesday that he didn't believe there had been much improvement in preparedness for pandemics in the wake of the Covid crisis. "I'm sad to say, I don't think we've improved unfortunately," said Narasimhan, speaking at the World Economic Forum in Davos, Switzerland. He explained that there did not appear to be the continued level of investment as hoped for, during this "inter-pandemic" period. "Now that we're past the pandemic — and really because of the feats of our industry, companies coming up with incredible mRNA vaccines and diagnostic tools — we're back to almost no investment from governments," Narasimhan said.

Persons: Vas, Narasimhan Organizations: Novartis AG, Economic, Novartis, CNBC Locations: Davos, Switzerland

☆ 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

☆ Nikki Haley under pressure from donors to defeat Donald Trump in New Hampshire after Iowa caucus loss
▼ + stars: | 2024-01-16 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Former U.N. ambassador Nikki Haley is facing pressure from some of her top fundraisers to either seriously compete with, or outright defeat, Donald Trump in next week's New Hampshire primary, after finishing third Monday in the Iowa caucus. Levine is also the co-host of a Haley fundraising event scheduled for after the New Hampshire primary. He told CNBC he isn't worried about poor attendance, as long as she has a strong showing in the Granite State. In order to keep many of her more affluent donors engaged, Haley must get within three percentage points of Trump in New Hampshire, said a Republican fundraising advisor whose clients include Haley donors. Some Haley donors have already lost hope.

Persons: Nikki Haley, Donald Trump, Andy Sabin, Haley, Sabin, Haley doesn't, Eric Levine, Levine, Trump, he's, Joe Biden, CNBC's Alex Sherman Organizations: U.S, United, U.N, CNBC, Trump, New, Republican, caucusgoers, GOP, New Hampshire, AdImpact Locations: West Des Moines , Iowa, U.S, week's, Hampshire, Iowa, New York, New Hampshire, Granite State, South Carolina, Davos, Switzerland

☆ Biden administration expected to re-designate Houthis as a global terrorist entity
▼ + stars: | 2024-01-16 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +3 min

CNN —The Biden administration is expected to re-designate the Houthis as a specially designated global terrorist (SDGT) entity amid continued attacks by the Yemen-based militia, a source familiar told CNN Tuesday. The administration removed the Houthis’ SDGT designation and de-listed it as a foreign terrorist organization (FTO) in February 2021, after it was designated by the Trump administration in its final weeks. Both the SDGT and FTO designations trigger an asset freeze, but only an FTO designation imposes immigration restrictions on members, according to the State Department. Last Thursday, the United States and the United Kingdom launched strikes against Houthi targets in Houthi-controlled areas of Yemen. “This has been an attack on international commerce, international shipping, not an attack on Israel, not an attack on the United States.

Persons: CNN —, Biden, Trump, Antony Blinken, Joe Biden, “, “ We’ve, ” Organizations: CNN, State Department, Administration, CNBC Locations: Yemen, Gaza, United States, United Kingdom, Houthi, Red, Israel

☆ OPEC+ oil producers head into meeting with quota unease and geopolitical risks casting a shadow
▼ + stars: | 2023-11-29 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Baselines, levels off which cuts and quotas are decided, have been a bone of contention within OPEC+, stalling talks amid UAE pushback in the summer of 2021. But accepting lower baselines would pose risks in the event of future output recoveries. The two countries' baselines for 2024 — and implicitly their production quotas — were due to be studied following assessment from three independent data providers. Two OPEC+ delegates, who could only speak anonymously because of the sensitivity of discussions, told CNBC Tuesday that a compromise had yet to be reached, as the clock ticks toward key meetings between OPEC, OPEC+ and their technical committee. The gatherings were initially scheduled as in-person meetings last weekend in Vienna, before a last-minute downgrade to virtual conferences.

Persons: Saudi Arabia —, —, Prince Abdulaziz bin Salman Organizations: of Petroleum, CNBC, UAE, Change, Saudi Energy Locations: OPEC, Saudi, Saudi Arabia, Angola, Nigeria, Vienna

NEW YORK (AP) — House Speaker Mike Johnson endorsed Donald Trump for president on Tuesday, a move that was a symbolic departure from his ousted predecessor leading the House. Johnson, an ally and defender of the former president, said in an interview on CNBC Tuesday morning, “I have endorsed him wholeheartedly." He added a bit later: “I’m all in for President Trump.”Johnson, a little-known Louisiana congressman, became speaker late last month when Kevin McCarthy was ousted by a hard-right band of their fellow Republicans. McCarthy had drawn the ire of Trump allies after he questioned in an interview this summer whether Trump was the strongest candidate among the then-crowded field of GOP rivals. The speaker’s backing of Trump charts the course for other House Republicans and leaves those GOP lawmakers who prefer an alternative candidate increasingly isolated in their party, with few options.

Persons: Mike Johnson, Donald Trump, Johnson, “, Trump, ” Johnson, Kevin McCarthy, McCarthy, Trump’s, Trump's, “ MAGA Mike Johnson, ”, Joe Biden, Joe Biden’s, Biden, Lisa Mascaro Organizations: —, CNBC, Trump, U.S, Capitol, White, GOP, New York Times, Facebook, Republican, Republicans, Republican Party, Associated Locations: Louisiana, Washington

☆ Stocks are bottoming and the market is approaching the perfect buying opportunity for investors, Fundstrat says
▼ + stars: | 2023-10-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The perfect opportunity for investors to buy the dip in stocks is approaching, according to Fundstrat's Mark Newton. The S&P 500 will drop to 4,200 before recovering, Newton said on CNBC Tuesday. AdvertisementAdvertisementStocks are in the process of bottoming out, and that means the perfect buying opportunity could soon present itself for investors, according to Fundstrat's global head of technical strategy Mark Newton. Meanwhile, any coming downturn is also likely to be postponed, thanks to unprecedented demand carrying the housing market and the labor market, Newton added. That could take the S&P 500 to a new all-time-high in 2023, Fundstrat's Tom Lee previously predicted.

Persons: Fundstrat's Mark Newton, Newton, That's, —, Mark Newton, Fundstrat, Fundstrat's Tom Lee Organizations: CNBC, Service Locations: Israel

☆ Germany's conservatives set to win state elections with far-right making gains
▼ + stars: | 2023-10-08 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Photo: Arne Dedert/dpa (Photo by Arne Dedert/picture alliance via Getty Images)Germany's conservative opposition was slated to win two state elections while the far-right gained ground on Sunday, exit polls showed, halfway into the government of social democratic Chancellor Olaf Scholz. The two states were led by the main opposition Union alliance that reunites the Christian Social Union party and the Christian Democratic Union. In Hesse, theBoris Rhein's CDU had led as part of a coalition with the Greens — and was set to win 35.5% of votes, exit polls showed. Here, too, AfD strengthened its presence, from 13.1% of votes previously to 16% on Sunday. The ruling Social Democratic Party is expected to gain 16% in Hesse and 8.5% in Bavaria.

Persons: Arne Dedert, Olaf Scholz, —, theBoris Rhein's, Friedrich Merz, Hesse, Robert Lambrou Organizations: Getty, Union, Christian Social Union, Christian Democratic Union, ARD, CSU —, Free, Greens, Google, Social Democratic Party, CNBC Locations: Frankfurt, Hesse, Germany, Bavaria, Munich

☆ 'Loyalty alone is not enough': Kremlin reveals the qualities Russia's Vladimir Putin values the most
▼ + stars: | 2023-10-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Russian President Vladimir Putin chairs a Security Council meeting via a video link in Saint Petersburg on October 10, 2022. "But for Vladimir Putin, loyalty alone is not enough. Russia's president Vladimir Putin (R) and his spokesman Dmitry Peskov (L) attend the Supreme Eurasian Economic Council meeting at the Congress Hall in Bishkek on December 9, 2022. Contributor | Getty ImagesDuring Russia's "special military operation" in Ukraine, as it calls its invasion, questions have been raised about the strategy and competency of Russia's military leadership. FILE - Businessman Yevgeny Prigozhin, left, shows Russian President Vladimir Putin, around his factory which produces school meals, outside St. Petersburg, Russia on Monday, Sept. 20, 2010.

Persons: Vladimir Putin, Gavriil Grigorov, Putin, Andrei Kondrashov, it's, Dmitry Peskov, Vyacheslav Oseledko, —, Sergey Lavrov, Sergei Shoigu, Sergei Lavrov, Nikolay Patrushev, Mikhail Mishustin, Sergei Sobyanin, There's, Vladimir Solovyov, Nikolai Patrushev, Dmitry Medvedev, Medvedev, Sergei Medvedev, Dmitry, Yevgeny Prigozhin's, Alexander Ermochenko, Sergey Shoigu, Shoigu, Prigozhin, Wagner, Kirill Shamiev, Prigozhin Prigozhin, Yevgeny Prigozhin, Alexei Druzhinin Organizations: Afp, Getty, CNBC, Economic, Kremlin, Security, Moscow, SVR, Russian Security Council, Ukraine, West ., Kyiv, Russian, Luhansk People's, Reuters, Wagner Group, European Council, Foreign Relations Locations: Saint Petersburg, Bishkek, Russian, Yerevan, Armenia, Russia, Ukraine, Kyiv, Luhansk, Luhansk People's Republic, Crimea, Moscow, Belarus, Prigozhin, St . Petersburg

Club holdings Meta Platforms (META) and Apple (AAPL) made headlines Tuesday, and the reports suggest both tech giants are nimbly adapting to complicated operating environments. Meta weighs monthly subscription fee META YTD mountain Meta (META) year-to-date performance The news: Meta is planning to role out an ad-free subscription option for social media platforms Instagram and Facebook in Europe, The Wall Street Journal reported Tuesday. Apple appeases Chinese authorities AAPL YTD mountain Apple (AAPL) year-to-date performance The news: Apple has started to adopt more stringent rules for its App Store in China following the implementation of new government regulations for mobile apps. China ultimately denied those media reports , which had contributed to Apple losing $200 billion in market cap over a two-day period. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Mark Zuckerberg's, Apple, Jim Cramer's, Jim Cramer, Jim, Nasir Kachroo Organizations: Meta, Apple, Facebook, Street, CNBC, U.S, Reuters, NurPhoto, Getty Locations: Europe, China, Beijing, U.S, India

☆ Meta wants to charge European users $14 to access ad-free Instagram, Facebook: Report
▼ + stars: | 2023-10-03 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

The proposal, which would cost users around $14 a month on mobile devices and as much as $17 on a desktop, is Meta's attempt to navigate strict privacy rules in the European Union. Meta has spoken with digital-competition regulators in Brussels, privacy regulators in Ireland and other EU privacy regulators about its proposal, according to the report. It is not clear whether regulators believe Meta's proposal is a sufficient workaround, according to the report, and they may ask the company to propose a cheaper offering. Since the privacy rules do not apply to the U.S., it is unlikely that Meta would introduce SNA there. But in February, Meta CEO Mark Zuckerberg announced a paid verification subscription service called Meta Verified.

Persons: Meta, Mark Zuckerberg, Zuckerberg Organizations: Wall Street, European Union, Meta, CNBC Locations: Brussels, Ireland, U.S

☆ Europe is 'very far' from imposing new duties on Chinese EVs despite ongoing probe, top official says
▼ + stars: | 2023-09-20 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

The European Union is "very far" from imposing new tariffs on Chinese electric cars, a top official told CNBC, just days after the bloc launched an investigation into subsidies given by Beijing. The institution surprised many last week by announcing an anti-subsidy probe focusing on the EV market in the world's second-largest economy. The European Commission believes cheaper Chinese electric cars are flooding the European market with prices being kept low due to sizeable state subsidies. The commission said an anti-subsidy probe could last up to 13 months from initiation. It also said that provisional measures must be imposed no later than nine months, followed by four months to impose definitive measures, if legally warranted.

Organizations: European, CNBC, European Commission Locations: Beijing, China

☆ Recession-hit Germany is facing a flurry of global headwinds, Goldman Sachs says
▼ + stars: | 2023-09-19 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The victory column and TV tower are pictured in front of the sunrise in Berlin, Germany. Germany finds itself at a crossroads of global issues as it deals with an economic contraction, according to Peter Oppenheimer, chief global equity strategist and head of macro research EMEA at Goldman Sachs. "The predicament that the economy is facing at the moment is really down to a number of factors," Oppenheimer told CNBC Tuesday, with challenges in the manufacturing sector, a disappointing China reopening boost and higher energy costs contributing to the recession in Europe's largest economy. "It's … not a deep recession but it's obviously been more hit by obvious headwinds," Oppenheimer said. The comments reflect the latest projection by the Bundesbank, which estimated Monday that the German economy is likely to shrink this quarter thanks to slow private consumption and industry stuttering.

Persons: Peter Oppenheimer, Goldman Sachs, Oppenheimer Organizations: Goldman, CNBC Locations: Berlin, Germany, China

Meta's return-to-office mandate went into effect on Tuesday, requiring employees to work from the company's physical locations at least three days a week. The company began notifying employees in June of the coming change, which will not impact Meta's current roster of remote workers. Any employee assigned to an office, however, will need to comply with the rules starting this week. Facebook parent Meta first extended its remote-work policy to all full-time employees in June 2021. "This analysis also shows that engineers earlier in their career perform better on average when they work in-person with teammates at least three days a week."

Persons: Meta's, Mark Zuckerberg, Zuckerberg Organizations: CNBC, Facebook, Meta

☆ Nvidia and more: Morgan Stanley reveals its favorite global stocks to play 'a pivotal moment for AI'
▼ + stars: | 2023-08-24 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Analysts at Morgan Stanley picked several global stocks they say are set to benefit from the artificial intelligence trend, from semiconductors to server companies. "The 2024 earnings for AI stocks are higher than they were on July 1, and fundamentals for AI companies look even better," Morgan Stanley said in a note to investors seen by CNBC Tuesday, titled "A Pivotal Moment for AI." The analysts also described AI stocks as "materially cheaper today than they were last month." Morgan Stanley said this is a "pivotal moment for NVDA and the AI supply chain," adding that investors should "prepare for potential AI opportunities." In Japan, Morgan Stanley named Disco Corporation , a maker of semiconductor manufacturing devices, for its "meaningful demand increase from generative AI-related Equipment."

Persons: Morgan Stanley, Shawn Kim, Morgan, — CNBC's Michael Bloom, Yeo Boon Ping Organizations: CNBC, Nvidia, Revenue, Taiwan Semiconductor Manufacturing Company, China Semiconductors, Global Unichip Corp, chipmaker SK Hynix, Samsung, Disco Corporation Locations: Greater China, China, South Korea, Japan

☆ Offshore wind turbine catches fire off east coast of Britain
▼ + stars: | 2023-08-15 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

An aerial view shows wind turbines at RWE's Scroby Sands Wind Farm, off the coast of Great Yarmouth, eastern England, on February 15, 2023. LONDON — An offshore wind turbine in the North Sea caught fire Tuesday, with all personnel evacuated and accounted for. The turbine is part of the Scroby Sands Offshore Wind Farm, which has a capacity of 60 megawatts. It is owned and operated by RWE Offshore Wind. In a statement sent to CNBC Tuesday, a Maritime and Coastguard Agency spokesperson said: "HM Coastguard has been monitoring a wind turbine on fire at the Scroby Sands Wind Farm today … off the coast of Great Yarmouth."

Organizations: RWE, CNBC, Maritime and Coastguard Agency, Coastguard Locations: Great Yarmouth, England

☆ Vietnamese EV maker VinFast to begin trading on the Nasdaq Tuesday after completing SPAC merger
▼ + stars: | 2023-08-15 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

A VinFast VF7 electric vehicle is seen during the 2023 Canadian International AutoShow in Toronto, Canada on Feb. 17, 2023. Vietnamese electric vehicle maker VinFast is expected to list on the tech-focused Nasdaq on Tuesday morning in New York, following completion of its merger with the U.S.-listed special purpose acquisition company Black Spade Acquisition . On Monday, VinFast said in a joint statement with Black Spade Acquisition that it would commence trading on Aug. 15. The deal values VinFast at approximately $23 billion, according to a June filing with the U.S. Securities and Exchange Commission. Following the merger, Black Spade became a wholly owned subsidiary of VinFast and is expected to delist from the New York Stock Exchange, said the joint statement.

Persons: VinFast, Black Spade, Le Organizations: U.S, Spade, U.S . Securities, Exchange Commission, New York Stock Exchange, Thuy, CNBC Locations: Toronto, Canada, New York, VinFast

☆ With eyes on Taiwan, new China ban shows the U.S. may be learning lessons from mistakes with Russia
▼ + stars: | 2023-08-11 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +7 min

Analysts said the U.S. was making such moves with an eye on rising tensions over Taiwan, given that the potential fallout from a conflict between China and Taiwan would be "unimaginable." Yurchenko, who spoke to CNBC ahead of the Wednesday announcement, dubbed the scale of the risks regarding Taiwan as "unimaginable." Beijing, meanwhile, has called for "reunification" with Taiwan, last year describing its status in a white paper as an "unalterable" part of China. watch nowElina Ribakova, senior fellow at the Peterson Institute for International Economics, said that China was watching the West's approach to Russia closely. Western sanctions against Moscow keep coming, almost 1½ years after Russian forces crossed Ukraine's borders.

Persons: Drew Angerer, Joe Biden, Olena, it's, Olena Yurchenko, Yurchenko, Kyle Bass, Xi Jinping, Biden, Ukraine's Yurchenko, they've, Elina Ribakova, Ribakova, Daniel Ferrie, I'm Organizations: Getty, Wednesday, Foreign Ministry, Economic Security, of, of Ukraine, CNBC, Peterson Institute for International Economics, Moscow, Ukraine, European, European Union, Hayman Capital Locations: China, disassociation, Beijing, U.S, Russia, Taiwan, United States, Washington, of Ukraine, India, Taiwan Strait, Ukraine, Ukraine's, Moscow

☆ The economy is stronger than people thought and there's no recession in 2023, says Invesco's Brian Levitt
▼ + stars: | 2023-08-09 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

"This is an economy that's stronger than people thought," Invesco strategist Brian Levitt told CNBC Tuesday. He also sees stocks as beginning a "FOMO" rally from now until the end of the year. Brian Levitt is upbeat on the US's economic prospects – and believes the rally that's lifted equities in 2023 still has room to run. "My expectation on what the market is telling us is that this is an economy that's stronger than people thought," Invesco's global market strategist told CNBC on Tuesday. "I would think it's a FOMO rally between here and the end of the year," Levitt said.

Persons: Brian Levitt, –, Levit, Levitt, Morgan, Mike Wilson, who's Organizations: CNBC, Service, Reserve Locations: Wall, Silicon

☆ General Motors shares drop after second-quarter earnings. Here's what the pros are saying
▼ + stars: | 2023-07-25 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on General Motors . The pros, including Jim Cramer , discussed the automaker after it reported second-quarter earnings Tuesday before market opened that were up sharply year over year. General Motors CEO Mary Barra joined CNBC Tuesday to break down the company's results and detail plans to implement $3 billion in cost-cutting measures throughout next year. Although revenue beat analyst estimates and GM increased its 2023 forecast for the second time this year, its shares ended the day down 3.5%.

Persons: Jim Cramer, Mary Barra Organizations: General Motors, CNBC, GM

☆ BlackRock might not be 'woke' anymore after the asset manager put an oil CEO on its board
▼ + stars: | 2023-07-19 | by ( Rebecca Ungarino | George Glover | ) www.businessinsider.com time to read: +4 min

BlackRock named Aramco CEO Amin Nasser to its board Monday. Nasser leads the world's largest oil producer, which is mainly owned by the Saudi Arabian state. Its decision to name Aramco CEO Amin Nasser to its board Monday provides further ammunition for those critics, signaling that the firm might not be as socially conscious as it says it is. That is the wrong player here, unless [BlackRock CEO] Larry Fink really wants to blur their image on the ESG front," Jeffrey Sonnenfeld, the Yale professor and management expert, said on CNBC Tuesday. Amin H. Nasser, president and chief executive officer of Saudi Arabian Oil Company (Saudi Aramco), speaks at the China Development Forum in Beijing, China, March 19, 2017.

Persons: Amin Nasser, Nasser, Larry Fink's, it's, Larry Fink, Jeffrey Sonnenfeld, Biden, Jamal Khashoggi, He'll, that's, Amin H, Shu Zhang, Reuters Fink, BlackRock's, It's, Fink, he'd Organizations: BlackRock, Aramco, Yale, CNBC, Washington Post, Saudi Arabian Oil Company, China Development Forum, Reuters, McKinsey, Republican Locations: Saudi Arabian, Saudi Arabia, Saudi, Saudi Aramco, Beijing, China, Massachusetts

☆ Erdogan's push for Turkey's EU membership is being met with surprise and skepticism
▼ + stars: | 2023-07-11 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Erdogan surprised many on Monday by linking Sweden's bid to join NATO with his country's accession to the EU. "I was quite surprised he linked this," Maria Demertzis, senior fellow at the Brussels-based think tank Bruegel, told CNBC Tuesday. The EU deemed that Turkey was putting forward a lot of political reforms that actually moved it "further away" from the bloc. One of the policy changes that infuriated the EU was a 2017 referendum that gave Erdogan more executive powers. "He needs money," an EU official, who did not want to be named due to the sensitive nature of the topic told CNBC Tuesday, regarding why Erdogan brought up this issue again now.

Persons: Recep Tayyip Erdoğan, aren't, Erdogan, Maria Demertzis, Erdogan's Organizations: European Union, NATO, EU, CNBC Locations: Turkish, Turkey, Sweden, Brussels, Ankara

☆ CNBC Daily Open: Consumers might just fend off a U.S. recession
▼ + stars: | 2023-06-28 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Recession warningThe U.S. will slip into recession in the fourth quarter this year, and will continue languishing in it for 2024, according to HSBC Asset Management. With the new marketplace, users can choose software from other companies to generate AI graphics, text, voice and so on. [PRO] Seth Klarman on marketsLegendary investor Seth Klarman of Baupost Group spoke with CNBC Tuesday in an exclusive interview.

Persons: fintech, Wise, Christine Lagarde, Lagarde, Unity's, Seth Klarman, Klarman Organizations: CNBC, HSBC Asset Management, HSBC, Reserve, European Central Bank, Unity, Baupost Locations: U.S

☆ CNBC Daily Open: Consumers might just prevent a U.S. recession
▼ + stars: | 2023-06-28 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Australia's S&P/ASX 200 added around 1% after May's inflation reading was lower than expected. The fourth industrial revolutionGenerative artificial intelligence isn't hype — it's the "fourth industrial revolution playing out," said Dan Ives, managing director of Wedbush Securities. [PRO] Seth Klarman on marketsLegendary investor Seth Klarman of Baupost Group spoke with CNBC Tuesday in an exclusive interview.

Persons: Australia's, Christine Lagarde, Lagarde, Dan Ives, Ives, Seth Klarman, Klarman Organizations: CNBC, China's Shanghai, HSBC Asset Management, HSBC, Reserve, European Central Bank, Wedbush Securities, Unity, Baupost Locations: U.S, Asia, Pacific

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