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The topic of Donald Trump has dominated dinners and parties at Davos, with many in attendance at the World Economic Forum mulling the former president's potential return to the White House after his resounding Iowa caucus victory. 2024 predictionsJamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Steve Schwarzman, Chairman, CEO & Co-Founder Blackstone Group, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBCBlackstone CEO Stephen Schwarzman expressed another common theme among executives — that both Trump and U.S. President Joe Biden are flawed choices. Marc Benioff, co-founder, chairman and CEO Salesforce, speaking with CNBC's Sara Eisen at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.

Persons: Donald Trump, Evelyn Hockstein, —, I'm, Trump's, Jamie Dimon, JPMorgan, Adam Galici, Jamie Dimon wouldn't, CNBC's, Dimon, Biden, Trump, he's, Steve Schwarzman, Stephen Schwarzman, Joe Biden, Schwarzman, Ben Smith, Smith, Marc Benioff, Salesforce, Bloomberg's Brad Stone, CNBC's Sara Eisen Organizations: Reuters, Switzerland — Global, Washington , D.C, Trump, ., JPMorgan Chase, CNBC, NATO, White, U.S, Capitol, Blackstone Group, CNBC Blackstone, Biden, Wall Street Locations: Des Moines , Iowa, U.S, Reuters DAVOS, Switzerland, Washington ,, Davos, Trade, China, Mexico, United States

"You've now reached the end of today's AI utility," Gelsinger said. "This next phase of AI, I believe, will be about building formal correctness into the underlying models." "Certain problems are well solved today in AI, but there's lots of problems that aren't," Gelsinger said. "Basic prediction, detection, visual language, those are solved problems right now. But at the end of the day, I need the knowledge worker to say is it right."

Persons: Pat Gelsinger, You've, Gelsinger Organizations: Microsoft, Google, Intel, CNBC Locations: DAVOS, Switzerland

☆ 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

Sam Altman, CEO of OpenAI, during an interview at Bloomberg House on the opening day of the World Economic Forum in Davos, Switzerland, on Jan. 16, 2024. DAVOS, Switzerland — OpenAI founder and CEO Sam Altman said the night he was pushed out by the board was "wild," and he felt "super confused" and was "super caught off guard." "I have no equity in OpenAI," Altman said in a May Senate hearing on artificial intelligence. Between the board and the non-profit sits a capped-profit company dubbed OpenAI Global, which Microsoft inked a $10 billion investment deal with in January last year. There are also a few other entities, including a holding company, that comprise the somewhat convoluted organization behind the biggest name in generative AI tech.

Persons: Sam Altman, Switzerland —, " Altman, Altman, —, Altman's, John Kennedy Organizations: Bloomberg House, Economic, OpenAI's, OpenAI Inc, OpenAI, Microsoft Locations: Davos, Switzerland, DAVOS, OpenAI

DAVOS, Switzerland — Bitcoin does nothing, JPMorgan Chase CEO Jamie Dimon said Wednesday on the sidelines of the World Economic Forum. "This is the last time I'm talking about this with CNBC, so help me god," Dimon said. "I defend your right to do bitcoin," Dimon added, saying, "I don't want to tell you what to do. When asked what he made of Larry Fink changing his view on bitcoin as BlackRock jumped into the spot ETF business, Dimon said, "I don't care. "I don't know what he would say about blockchain versus currencies that do something versus bitcoin that does nothing," Dimon added.

Persons: Jamie Dimon, bitcoin, Dimon, blockchain, Smart, Franklin Templeton, Larry Fink, I'm Organizations: JPMorgan, Economic, CNBC, SEC, WisdomTree, Chartered, BlackRock Locations: DAVOS, Switzerland, Davos, BlackRock, bitcoin

☆ 2024's wave of elections predicted to derail food security progress
▼ + stars: | 2024-01-16 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

DAVOS, SWITZERLAND — The slew of upcoming global elections could derail international efforts to secure long-term food supplies, according to the International Fund for Agricultural Development (IFAD). Almost half of the governments in the world are going to go through elections," Lario said Monday at the World Economic Forum in Davos. Those include actions which enable more local food production, greater integration of regional markets and further crop diversification. "We thought after the Ukraine shock that [tackling the root causes] was going to be a given, and there was a lot of momentum. It is estimated that around one in 10 people globally suffer from food insecurity or reliable access to nutritious food, according to UNICEF.

Persons: Alvaro Lario, Lario, —, It's Organizations: International Fund for Agricultural Development, CNBC, Economic, UNICEF Locations: DAVOS, SWITZERLAND, Davos, Europe, Ukraine

A pedestrian walks past the TATA pop up store with a poster reading 'The Future is AI' ahead of the World Economic Forum (WEF) in Davos, Switzerland, on Sunday, Jan. 14, 2024. Some of the world's biggest companies are pushing their AI products and services with one declaring: "The future is AI." Companies from U.S. semiconductor firm Intel to Salesforce had AI slogans on the properties they took over. The "AI House" was one of the biggest displays on the Davos Promenade. Arjun Kharpal | CNBCU.S. semiconductor firm Intel took over one of the properties on the Davos Promenade with its AI agenda front and center.

Persons: Salesforce, Arjun Kharpal Organizations: Economic, Bloomberg, Getty, Global, Companies, Intel, CNBC U.S, CNBC Locations: Davos, Switzerland, DAVOS, Swiss

☆ What is the World Economic Forum?
▼ + stars: | 2024-01-15 | by ( Gaelle Legrand | ) www.cnbc.com time to read: 1 min

The World Economic Forum is famous for its annual week-long meeting in Davos, Switzerland — so much so, that "WEF" and "Davos" have pretty much become synonymous. Once the meetings are over, WEF packs up and returns to its headquarters 267 miles away in the suburbs of Geneva. Based there are around 600 of the international non-profit organization's more than 800 employees. Its says its mission is "improving the state of the world." Watch our video to learn more about the organization behind one of the world's most high-profile gatherings.

Persons: WEF Locations: Davos, Switzerland, Geneva

☆ 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

LAÚNDOS, Portugal (AP) — Guilherme Peixoto, a village priest in northern Portugal, has been busy this month celebrating Masses at his two parishes, presiding over remembrances for the dead — and preparing the electronic music set for his next international DJ gig. "They can think, 'If it’s possible for a priest to be DJ, it’s possible for me to like music, and festivals, and be Christian.'" The priest broke onto the global stage when the organizers of World Youth Day in Lisbon asked him to “wake up the pilgrims” at 7 a.m. before Pope Francis’ open-air Mass in August. There, he re-mixed electronic dance beats with words from Pope Francis’ encyclical about protecting the environment. “It’s very important to me to not only be the priest DJ, but be the shepherd of the community,” Peixoto said.

Persons: — Guilherme Peixoto, remembrances, ” Peixoto, Pope Francis ’, Peixoto, who’s, John Paul II, He’d, Francis ’, Silvana Pontes, ”, ” Pontes, he’d, Tania Campos, she’s, —, Paulo, Switzerland —, Irene Pontes, Andreia Flores, ” Flores, “, “ It’s, Pope, Pope Francis, Eduardo Duque, “ Padre Guilherme, we’ll, ’ ”, don’t, Jesus —, DJ Organizations: —, Ar, Rock, Peixoto, Catholic Portuguese University, Braga, Lilly Endowment Inc, AP Locations: LAÚNDOS, Portugal, fundraise, Italy, Lisbon, Portuguese, Laúndos, Ar de, Arizona, Switzerland, Amorim .

☆ The ‘Mandela Effect’: How a psychological phenomenon took over the internet
▼ + stars: | 2023-09-18 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +10 min

But you might also be experiencing the so-called Mandela Effect. Ken Drinkwater, a fellow researcher at Manchester Metropolitan, added that the effect might be connected to a condition called false memory syndrome. Jon Elswick/AP; Scott Olson/Getty ImagesSome common examples of the Mandela Effect have perhaps logical explanations, such as Mr. “Advocates of the Mandela Effect think it’s a genuine effect. These people had this false memory right after learning about the characters!

Persons: Ash, Fiona Broome, Nelson Mandela, Mandela, Broome, “ Luke, ”, Wilma Bainbridge, hadn’t, Deepasri Prasad, Bainbridge, Prasad, Stan, Jan Berenstain, ” Bainbridge, Neil Dagnall, Dagnall, “, ” Dagnall, Roediger, McDermott, Ken Drinkwater, they’ve, Drinkwater, they’d, you’ve, Jon Elswick, Scott Olson, David Adkins, Sinbad, Dennis Van Tine, Shaquille O’Neal, Clara Nellist, Lionel Flusin, hasn’t, ” Drinkwater, University of Chicago’s Bainbridge Organizations: CNN, “, Bears, University of Chicago’s, Science, UChicago, Dartmouth College, Manchester Metropolitan University, Manchester Metropolitan, Monopoly, Fox Television Network, European Organization for Nuclear Research, CERN, Collider Locations: South Africa, “, Hanover , New Hampshire, United Kingdom, New York City, Switzerland —, Geneva

☆ German-made anti-aircraft guns from the 1960s are one of Ukraine's best weapons against Russia's exploding drones, and this video shows one blasting them out of the sky
▼ + stars: | 2023-09-07 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Ukraine has relied on its decades-old Gepard cannons to defend against Russian drones and missiles. A new video published Thursday by the Ukrainian military shows the anti-aircraft guns in action. Gepards, which were first developed in the 1960s, have proven to be very effective in downing these systems, as well as other low-altitude Russian drones and cruise missiles. Ukrainian servicemen operate a Gepard self-propelled anti-aircraft gun during their combat shift, amid Russia's attack on Ukraine, in Kyiv region, Ukraine June 30, 2023. REUTERS/Valentyn OgirenkoThe firepower boost for Ukraine's Gepards comes at a crucial moment.

Persons: Kyiv's Gepards, Vladimir Putin's, Jacob Bradford, Gepards, Switzerland —, Ukraine's Gepards, John Kirby, Biden Organizations: Service, Ukrainian Air Force, Factory, US Army, Rheinmetall AG, REUTERS, Ukraine's, National Security, NATO, Pentagon, High Mobility Artillery Rocket Systems Locations: Ukraine, Ukrainian, Wall, Silicon, Odesa, Moscow, Kyiv, Poland, Germany, Switzerland, German, Kyiv region, Russia

☆ Swiss Museum Cashier Pockets Over $1 Million in Yearslong Scam
▼ + stars: | 2023-08-08 | by ( Christopher F. Schuetze | More About Christopher F. Schuetze | ) www.nytimes.com time to read: +1 min

For this museum heist, every little bit counted. A court in Switzerland convicted a museum cashier on Friday of stealing almost a million Swiss francs by pocketing entry fees paid by visitors at the Beyeler Foundation, a prestigious art museum outside Basel. “Most likely, you would have continued like this if you hadn’t been found out,” the presiding judge, Marcia Stucki, said when announcing the verdict on Friday, according to the Basler Zeitung, a local newspaper. The court sentenced the woman to three years and seven months in prison and a $3,600 fine. She is also responsible for repaying the museum what she stole, although it is unclear to what extent that money can be recuperated.

Persons: —, Switzerland —, Marcia Stucki Organizations: Beyeler Foundation Locations: Switzerland, Basel

☆ Why Is Switzerland — of All Places — Importing So Much Cheese?
▼ + stars: | 2023-07-21 | by ( Claire Moses | More About Claire Moses | ) www.nytimes.com time to read: +1 min

The Swiss are proud of their cheese, and most of the cheese they eat are local varieties like Gruyère, Emmental and other hard cheeses from milk from happy cows that are famous all over the world. The Swiss also eat a lot of cheese: more than 50 pounds per person per year, versus about 40 pounds per person in the United States. “Cheese is part of our identity,” said Daniel Koller, a director at Swissmilk, Switzerland’s dairy association. Switzerland now exports about 40 percent of the cheese it produces, per industry estimates. But in each of the first five months of this year, Switzerland imported more cheese by weight than it sold abroad, according to customs data.

Persons: ”, Daniel Koller, Koller’s Organizations: European Union Locations: Swiss, United States, Switzerland

☆ Mixed Business at an Anxious Art Basel
▼ + stars: | 2023-06-16 | by ( Scott Reyburn | ) www.nytimes.com time to read: 1 min

After an underwhelming series of auctions in New York in May, dealers exhibiting at this year’s Art Basel fair in Switzerland — which opened to V.I.P.s on Tuesday and welcomes the general public from Friday onward — hoped to quell concerns about a dip in the art market. The 53rd annual edition of this bellwether Swiss event, featuring 284 international galleries specializing in 20th and 21st-century art, was the first under the watch of Art Basel’s new chief executive, Noah Horowitz. It is being held in a climate of geopolitical uncertainty, with high interest rates and inflation hampering consumer spending in many countries. “There’s quite a lot of anxiety around,” said Paul Gray, the director of Gray gallery, based in Chicago and New York. But in his 40-year experience, he added, the art market suffered from few major downturns.

Persons: —, Basel’s, Noah Horowitz, ”, Paul Gray, Gray Organizations: Basel Locations: New York, Switzerland, V.I.P.s, Chicago

☆ Inside the world of high-end crypto rehab centers, where a 4-week stay can cost you $320,000 and no luxury is spared
▼ + stars: | 2023-03-20 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +9 min

Crypto addiction is like a "casino in your pocket" says the founder and CEO of The Balance, a crypto rehab center. Enter: luxury crypto rehab centers. It calls itself the "world's best luxury rehab center and mental health clinic" and a "safe haven where you can find recovery, peace, rest, and happiness." The Diamond rehab center, ThailandAnd then there's the property's luxury offerings: a spa, golfing, boat trips, and sporting activities. The Diamond rehab center, ThailandThe Diamond started offering crypto rehab services at the beginning of 2021.

☆ One country, two crypto systems: Hong Kong harbors crypto hub ambitions despite China's crackdown
▼ + stars: | 2023-03-20 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

Sopa Images | Lightrocket | Getty ImagesThe crypto industry has had a rough year with digital currency markets crashing and companies collapsing across the board. Hong Kong is planning to introduce new rules in June that will require crypto trading platforms to be licensed by the Securities and Futures Commission. Bitcoin ATMs, operated by Coinhero, in Hong Kong, China, on Wednesday, Dec. 21, 2022. While Hong Kong harbors high crypto ambitions and boasts relatively lower tax policy on businesses, the city could still potentially find competition with other crypto hubs. The logo of Bitcoin cryptocurrency at a store in Hong Kong on Thursday, Feb. 10, 2022.

☆ Toblerone chocolate could lose its iconic Swiss mountain logo because it won't be able to meet the country's standard of 'Swissness'
▼ + stars: | 2023-03-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Toblerone is set to drop the iconic image of Switzerland's Matterhorn mountain from its packaging. Switzerland has laws regulating the use of national symbols and products claiming to be Swiss-made. Toblerone's new branding will feature a "modernized and streamlined" logo instead of the Matterhorn's jagged outline, per Aargauer Zeitung. The Matterhorn debuted on Toblerone's packaging in 1970, according to its brand page. "We'll relaunch the Toblerone packaging from this summer, saying the brand was 'established in Switzerland,'" Livia Kolmitz, a Mondelez spokeswoman, told Reuters.

☆ American-made cheese can still be called 'gruyère,' a court ruled, and cheese makers in France and Switzerland aren't happy
▼ + stars: | 2023-03-05 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

"Gruyère" can be used for cheeses produced in the United States, an appeals court ruled. It's a victory for dairy groups in the US, but cheese-makers in Switzerland and France aren't happy. Gruyère is a firm yellow cheese named after the town of Gruyères in Fribourg, Switzerland, where it originated. "Cheese consumers in the United States understand 'gruyère' to refer to a type of cheese, which renders the term generic." Krysta Harden, president of the US Dairy Export Council, called the ruling an "outstanding result for manufacturers and farmers here in the United States," per Reuters.

☆ The small European nation of Switzerland beat sky-high inflation. Here's how
▼ + stars: | 2023-02-27 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +8 min

watch nowZURICH — As many countries across the globe battle stubbornly high inflation, the rise in prices has been far less dramatic in Switzerland, a small mountainous nation in western Europe. The stability of the Swiss francAnother reason for Switzerland's relative price stability stems from the strong Swiss franc. While many currencies plunged against an appreciating U.S. dollar, the Swiss franc held steady amid volatility in Europe. The Swiss franc is heavily backed by large reserve of gold, bonds and financial assets, which help the Swiss National Bank ensure the currency's stability during times of volatility. A stronger Swiss franc provides an effective discount on those imports.

☆ 'The art of diplomacy': How the world responds to a pariah state
▼ + stars: | 2023-01-24 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

DAVOS, Switzerland — As the world's political and business elite gathered at the World Economic Forum in Davos last week, there was one notable exception. Russian public figures and business delegates — once a key presence at the Swiss mountain resort — were banned from the forum this January, reflecting the country's broader ousting from the international community following President Vladimir Putin's invasion of Ukraine. Yet, elsewhere along the forum's famous promenade, as on the global stage, other countries accused of violating international law were well represented. That begs the question: what does it take to be labeled a pariah state and who gets to decide? Watch the video above to find out.

☆ China's reopening 'good news' for growth — but could be inflationary, economists warn at Davos
▼ + stars: | 2023-01-20 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

China's reopening has been one of the most discussed topics at the World Economic Forum in Davos. DAVOS, Switzerland — China's economic reopening might boost global growth, but the business leaders and policymakers at the World Economic Forum this week are also a little anxious on its potential inflationary impact. China's decision to welcome tourists again as well as to make it easier for those in the country to travel abroad has been one of the most discussed topics at the Davos gathering in the Swiss Alps. On the other hand, however, there are concerns about what this means for inflation and the cost of living. "So China's opening [is] good news overall, but potentially, the inflationary impact — there could be some," he said.

☆ European Central Bank's Lagarde says China's Covid reopening will push inflation higher
▼ + stars: | 2023-01-20 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

On the other hand, others note that China will be consuming more energy and this will add to ongoing inflationary pressures. DAVOS, Switzerland — China's decision to reopen its economy will increase inflation in Europe as they both compete for more energy, the president of the European Central Bank said Friday. Inflation has been one of the biggest challenges for European citizens for the last year, mostly driven by higher energy bills. The central bank in December said it would be increasing rates further in 2023 to address sky-high inflation. Recent data has shown a slowdown in headline inflation, even if it remains well above the ECB's 2% target.

☆ 'China cannot be out, China must be in': France says it's diverging with Washington on Beijing ties
▼ + stars: | 2023-01-20 | by ( Silvia Amaro | ) www.cnbc.com time to read: 1 min

DAVOS, Switzerland — The European Union does not see eye-to-eye with the United States when it comes to opposing China, the French finance minister told CNBC Friday. Speaking at a panel at the World Economic Forum in Davos, Switzerland, looking at the economic outlook, France's Bruno Le Maire said: "China cannot be out, China must be in. "We don't want to oppose China, we want to engage with China, we want China to obey by the same rules," he said, "this is our policy." The United States has taken a confrontational approach with China particularly when it comes to the technology sector. The European Union, however, has looked at striking a balance between its political friendship with the U.S. and its economic ties with China.

☆ Economic optimism at Davos is 'bizarre' and a prolonged downturn is more likely, says Cloudflare CEO
▼ + stars: | 2023-01-20 | by ( Britney Nguyen | Cadie Thompson | ) www.businessinsider.com time to read: +3 min

Cloudflare's CEO called the "tenor of optimism" for the economy at the World Economic Forum "bizarre." Matthew Prince told Insider a prolonged downturn is likely, in an interview at Davos. Of the 22 chief economists surveyed by the WEF, around two-thirds think a global recession is likely this year, and 18% think it is "extremely likely." Some respondents to the WEC's economic outlook survey think some of these issues could become less threatening throughout the year. Two-thirds of survey respondents think the cost-of-living crisis could be less severe at the end of the year, while close to the same amount of survey respondents think the energy crisis in Europe will also improve by 2023's end.

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