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I went on a go-kart tour through the streets of Tokyo last year for $125. The driving tour lasted one hour and took us to some of the main attractions in Tokyo. Go to newsletter preferences Thanks for signing up! In a city filled with options, I've found one of the most thrilling, unique ways to explore it is with a go-kart tour. Last year, I booked a one-hour go-kart tour through Monkey Kart, which offers several options and routes.
Persons: , I've, Mario Kart Organizations: Service, Economic, Monkey Kart, Nintendo, Business Locations: Tokyo, Japan
A light rain fell at the Zurich airport one Sunday morning in January 2023 as Sarah Kate Ellis made her way from a seat in Delta’s most exclusive cabin to a waiting Mercedes. It was there to chauffeur her to the Swiss Alps, where she and her colleagues would stay at the Tivoli Lodge, a seven-bedroom chalet that cost nearly half a million dollars to rent for the week. Ms. Ellis, who was en route to the World Economic Forum in Davos, doesn’t run a Wall Street bank or a high-flying tech start-up. She is the chief executive of the nonprofit organization GLAAD, one of the country’s leading L.G.B.T.Q. The trip was part of a pattern of lavish spending at GLAAD, much of it by Ms. Ellis, that may have violated the organization’s own policies as well as Internal Revenue Service rules.
Persons: Sarah Kate Ellis, Mercedes, Ellis, doesn’t Organizations: Economic, GLAAD, The New York Times, Revenue Service Locations: Zurich, Delta’s, Swiss, Davos
Among those headed back to Russia are convicted hackers and several Russian nationals detained in the West for spying. And the biggest prize for Russia was the return of Vadim Krasikov, a convicted hitman whose release had been publicly sought by Russian President Vladimir Putin. Anna Chapman, one of 10 Russian sleeper agents deported from the US in a 2010 prisoner swap, was also feted on her return to Russia. Britain blamed the poisoning on Russia; Russia has consistently denied involvement, although Putin referred to Skripal as a “scumbag” and a “traitor,” his contempt suggesting that Skripal had gotten his just desserts. The release of Russians in the swap means that Russia’s political climate is no less repressive.
Persons: Evan Gershkovich, Paul Whelan, Alsu Kurmasheva, Vladimir Kara, John le, Vadim Krasikov, Vladimir Putin, Krasikov, Zelimkhan, Tucker Carlson, Putin, Khangoshvili, ” Krasikov, Viktor Bout, Brittney, US Department of Justice –, Bout, Anna Chapman, Chapman, , Sergei Skripal, Skripal, Yulia, Novichok, Frank Augstein, Alexander Litvinenko, Litvinenko, Andrei Lugovoi, Dmitri Kovtun –, Lugovoi, Alexey Navalny, Navalny, Roman Abramovich, Hillary Clinton, Murza –, , Alexandra Skochilenko Organizations: CNN, Wall Street, Russia, Berlin Police, US Department of Justice, Hollywood, St ., Economic, Russian, Kremlin, European, of Human Rights Locations: American, Ukraine, Russia, Chechen, Berlin, Russian, St, St . Petersburg, United Kingdom, English, Salisbury, Britain, England, British, Moscow, Washington, United States
Cohere, the artificial intelligence startup founded by ex-Google AI researchers and backed by Nvidia , cut about 20 roles on Tuesday, CNBC confirmed. Despite the cuts, Cohere is hiring in areas such as customer operations, partnerships, revenue, sales, product design and modeling, according to its website. In June 2023, Cohere raised $270 million at a $2.2 billion valuation, with Salesforce and Oracle participating in the funding round. Many customers include businesses in banking, financial services and insurance, Kon told CNBC in the past. In November, Cohere told CNBC it saw an uptick in customer interest after OpenAI's sudden and temporary ouster of CEO Sam Altman.
Persons: Aidan Gomez, OpenAI, Cohere, Fortune, It's, Anthropic, Claude chatbot, Martin Kon, Kon, Sam Altman Organizations: Cohere Inc, Economic, Cohere, Google, Nvidia, CNBC, AMD, Oracle, Salesforce, Company, White, Enterprise Locations: Davos, Switzerland, Cohere, Cohere's
Africa is doubling down on its space ambitions
  + stars: | 2024-07-17 | by ( Amy Gunia | ) edition.cnn.com   time to read: +8 min
“It was really giving me a hard time in my mind.”Now Ouattara is helping to lead Africa into space. Early this year, Ouattara became the first president of the African Space Council, which oversees the newly inaugurated African Space Agency (AfSA). VCG/Getty ImagesAfrica’s space industry could be worth $22.6 billion by 2026, up from $19.5 billion in 2021, according to the consultancy Space in Africa. Better data from Earth observation could unlock more than $2 billion in value for Africa, according to a 2021 report by the World Economic Forum. More than 20 countries now have national space programs, and African nations budgeted more than $400 million for the sector in 2024, according to Space in Africa.
Persons: Tidiane Ouattara, , , Ouattara, Temidayo Oniosun, Aloyce, Deche, Andrew Nyawade, Simon Maina, that’s, “ It’s, Oniosun, ” Oniosun, ” Ouattara Organizations: CNN, Moon, African Union Commission, African Space Council, Space Agency, , World Economic, World Bank Group, Kenya Space Agency, University of Nairobi, Getty, African Development Bank, European Space Agency Locations: Ivory Coast , West Africa, stargaze, Canada, Africa, Ivory Coast, Inner Mongolia Autonomous Region, China, Egypt, Cairo, ” Africa, South Africa, Ghana, Kenya, Bulgaria, AFP,
Mustafa Suleyman, co-founder and chief executive officer of Inflection AI UK Ltd., speaks at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. If it finds reason to investigate further, the CMA can refer the case for an in-depth investigation, known as a "Phase 2" probe. The CMA said it would announce a decision on whether to refer the case for a Phase 2 investigation by Sept. 11. Microsoft announced in March it had hired Suleyman from Inflection, along with a number of other key employees at the firm. Both Suleyman and Simonyan were former employees of DeepMind, the Google-owned AI lab.
Persons: Mustafa Suleyman, Inflection's, Suleyman, Karen Simonyan, Simonyan Organizations: Ltd, Economic, Britain's, Markets Authority, CMA, Microsoft, DeepMind, Google Locations: Davos, Switzerland, Washington
Read previewThe attempted assassination of former President Donald Trump was indirectly caused by President Joe Biden and his administration, a Kremlin spokesperson said on Sunday. Related stories"The central premise of the Biden campaign is that President Donald Trump is an authoritarian fascist who must be stopped at all costs. That rhetoric led directly to President Trump's attempted assassination," Vance, a potential Trump vice presidential pick, said in an X post on Saturday. The central premise of the Biden campaign is that President Donald Trump is an authoritarian fascist who must be stopped at all costs. Trump's eldest son, Donald Trump Jr., also ripped the Democratic Party and accused them of inciting tensions before Saturday's assassination attempt.
Persons: , Donald Trump, Joe Biden, Trump, Dmitry Peskov, Thomas Matthew Crooks, Peskov, Sen, JD Vance, Ohio, Josh Hawley, Mike Collins of Georgia, Biden, Saturday's, Trump's, Vance, — J.D, @JDVance1, Hawley, Collins, — Mike Collins, Joseph R, Donald Trump Jr, Kamala, zHNX8HuD1A — Donald Trump Jr, Putin, didn't Organizations: Service, Kremlin, Business, Secret Service, Trump acolytes, Trump, Republican, Democratic Party, Biden, St ., Economic, Business Insider Locations: Pennsylvania, Manhattan, Josh Hawley of Missouri, Afghanistan, America, Butler County , PA, Russia, St, St . Petersburg
Three of our Club rate plays — solar panel company Nextracker , Stanley Black & Decker , and Ford — were our top-performing stocks for the week. Friday also ushered in the start of the second quarter earnings season. Earnings Club name Morgan Stanley reports second-quarter earnings before Tuesday's opening bell. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Nextracker, Stanley Black, Decker, Ford —, Wells Fargo, Morgan Stanley, Abbott, Goldman Sachs, Charles Schwab, JB Hunt, Johnson, Ally, Kinder Morgan, Horton, Huntington, Jim Cramer's, Jim Cramer, Jim, Ted Pick, Adam Galici Organizations: Dow Jones, Nasdaq, Big Tech, PPI, Abbott Laboratories, Libre Rio, Bank of America, PNC Financial, PNC, Pinnacle Financial, Housing, U.S . Bancorp, Northern Trust Corporation, Citizens, United Airlines, Alcoa, Steel Dynamics, Green Realty, Taiwan Semiconductor, Nokia, Infosys Technologies, McLennan Companies, T Bank Corp, Forestar, Novartis, Textron, Netflix, PPG Industries, AAR, American Express, Fifth Third Bancorp, Halliburton, HAL, Comerica, CMA, Financial, Jim Cramer's Charitable, CNBC Locations: Wells, BlackRock, BLK, U.S, Marsh, Davos, Switzerland
AdvertisementBusiness Insider spoke with two members of the Roadmap Generation and several of the HR professionals and executives who hire and oversee them. Many members of the Roadmap Generation are trying to set themselves up for future financial success by starting and stoking their portfolios early. Ambitious young professionals are prioritizing skills development early in their careers in the hopes of finding future success. Tom WernerFor all of their clear-eyed assuredness, however, the Roadmap Generation is also open-minded and curious, older bosses said. Dhunjisha agreed and suggested there's a simple way for a company to keep its Gen Z employees long-term.
Persons: , Javi Galarce, Galarce, Z, Astad Dhunjisha, Dhunjisha, Gen Z's, Gen Z, Gen, Cassie Fields, Fields, Dia Dipasupil, Austin Curtis, Curtis, We're, Mark Pierce, Pierce, Tom Werner, Zers, Jon Hill Organizations: Service, University of Iowa, Business, Deloitte, University of Oklahoma, Wyoming Trust Locations: Texas
“Today, I would like to announce that a settlement has been reached in the civil trial with the three perpetrators who were found guilty in the criminal trial,” Gonoi said. Authorities initially seemed unwilling to believe her but Gonoi’s refusal to be silenced eventually prompted prosecutors to reopen investigations in a sweeping probe into sexual harassment across the JSDF. The broad investigation led by Japan’s defense ministry found that Gonoi had suffered physical and verbal sexual harassment daily between late 2020 and August 2021. Not backing downAs a child, Gonoi said she saw JSDF members as heroes. The defense ministry eventually launched a broad investigation into sexual harassment across the JSDF that found Gonoi had suffered physical and verbal sexual harassment daily between late 2020 and August 2021.
Persons: Hong Kong CNN —, Rina Gonoi, ” Gonoi, Gonoi, , Yoshiaki Saito, Japan’s, Kazuhiro Nogi, Fumio Kishida, Boram Jang, “ Rina Gonoi, ” Jang Organizations: Hong Kong CNN, , Japan Self, Defense Force, NHK, CNN, Japan’s Ministry of Defense, Authorities, Getty, Japanese, Gonoi, Amnesty Locations: Tokyo, Hong Kong, Japan, Higashi, Japan’s, Miyagi, Fukushima, AFP, East Asia
A former employee of the World Economic Forum, the nonprofit organization behind the glittery annual gathering of business and political leaders in Davos, Switzerland, sued the group and its founder, Klaus Schwab, on Monday, accusing them of workplace discrimination. In a lawsuit filed in U.S. District Court in Manhattan, Topaz Smith, who is Black, said the organization embraced a “scofflaw approach to anti-discrimination laws” and oversaw a hostile atmosphere toward women and Black workers. She added that it denied her and other Black employees opportunities to advance professionally. The accusations are the latest black eye for the nonprofit, whose conferences — particularly the one in Davos in January — have become destinations for the global elite to meet and network under the auspices of saving the world. (The theme of this year’s forum in Davos was “Rebuilding Trust,” while last year’s was “Cooperation in a Fragmented World.”)An article in The Wall Street Journal last month, citing internal complaints and interviews with current and former employees, said workers had accused the organization of sexual harassment and racism.
Persons: Klaus Schwab, Topaz Smith, Organizations: Economic, Cooperation Locations: Davos, Switzerland, U.S, Manhattan
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA former employee at the World Economic Forum — the organizer of the illustrious Davos summit in the Swiss Alps — has accused the NGO and its founder, Klaus Schwab, in a lawsuit of pregnancy and race discrimination. Additionally, Smith said that after she announced her pregnancy in 2023, her position at the Forum "began deteriorating," according to the lawsuit. Others said they experienced sexual harassment by senior managers at the Forum as well as Davos VIP attendees, according to the Journal. In May, 86-year-old Schwab told staff in a memo he was stepping aside as the Forum's executive chairman as part of a planned transition.
Persons: , Klaus Schwab, Topaz Smith, Smith, Smith didn't, Sam Altman, Bill Gates, Schwab Organizations: Service, Davos, Business, World Economic Forum, Journal, Forum, . Locations: Davos, Swiss
Silkworm satay? Singapore approves insects as food
  + stars: | 2024-07-09 | by ( Heather Chen | ) edition.cnn.com   time to read: +2 min
Singapore’s state food agency (SFA) has approved 16 species of edible insects for sale and consumption in the country, according to a July 8 public circular addressed to food traders. Insects approved by the SFA include locusts, grasshoppers, mealworms and several species of beetle. “Insects are an overlooked source of protein and a way to battle climate change,” according to a 2022 report by the World Economic Forum. Live insects are commonly sold in Singapore as food for pets like songbirds and reptiles, but they could be a new and exciting option for human diners. “As the insect industry is nascent and insects are a new food item here, SFA has developed an insect regulatory framework which puts in place guidelines for insects to be approved as food,” SFA said.
Persons: nasi lemak, , Grasshopper tacos Organizations: CNN, SFA, ” SFA, World Economic, Grasshopper Locations: Singapore, Mexico, Thailand, Cambodia
America’s job market remains solid, but it has lost momentum over the past year. The Federal Reserve is watching closely to see if it will continue to hold up or weaken more than expected. Fed Chair Jerome Powell said this week at an economic forum in Portugal that the risk of inflation reaccelerating has come into better balance with the risk of the job market unexpectedly deteriorating. Fed officials indicated in their latest economic projections that they expect to cut interest rates just once this year, which have been at a 23-year high for a year now. It rose to 4.1% in June, according to the Labor Department’s latest tally.
Persons: Jerome Powell, ” Powell, , Mary Daly Organizations: Federal, ” San Francisco Fed, Labor Locations: Portugal, ” San
Two World Economic Forum managers used the N-word in recent years, employees told The Wall Street Journal. AdvertisementTwo managers at the World Economic Forum used a racist word in front of employees in recent years, The Wall Street Journal reported on Saturday. According to the Journal, which interviewed more than 80 current and former employees, employees faced gender discrimination and racism, among other issues, at the Switzerland-based nonprofit. Best known for its annual conference in Davos, Switzerland, the nonprofit brings together top voices in government, business, and research. Staffed by about a thousand employees, the Forum brought in more than $400 million in 2022-2023, per its annual report.
Persons: Organizations: Economic, Wall Street, Service, Street, Business Locations: Switzerland, Davos
Read previewYou may have heard a version of the phrase, "AI won't take your job, it's somebody using AI that will take your job." Should you be more worried about losing your job to a human using AI or to the AI itself? He said software engineers who didn't experiment with AI tools usually didn't get the job. He asks all new hires what AI tools they use. "I think that the same is true of some of these basic, AI tools," he added.
Persons: , Richard Baldwin, Baldwin, it's, Jasmine Escalera, LiveCareer, Matt Betts, Morgan Stanley, Klarna, Mira Murati, Carl Benedikt Frey, Goldman Sachs, Escalera, Steve Kaufer, Logan Bartlett, Kaufer, Miller Organizations: Service, Growth, Business, Bain & Company, RHR, MIT, Stanford, IBM, Oxford University, Empire Entertainment
Opening a high-yield savings account can be a game-changerWhile 68% of Americans have a standard savings account, according to Forbes, fewer take advantage of high-yield accounts that offer better returns. Although you can choose to receive a physical titanium Apple Card, it's also automatically built into Apple Wallet on iPhone. 3 To access Savings, Apple Card Owners and Co-Owners must open a Savings account. To access and use all Apple Card features and products available only to Apple Card users, you must add Apple Card to Wallet on an iPhone or iPad that supports and has the latest version of iOS or iPadOS. If you reside in the U.S. territories, please call Goldman Sachs at 877-255-5923 with questions about Apple Card.
Persons: it's, Cash, Goldman Sachs Organizations: Economic, Forbes, Apple, Apple Pay, Insider Studios, Apple Card, Savings, Goldman Sachs Bank, Branch, Member FDIC, Daily, Apple Cash Card, Minor Outlying, Merchant, Nike Locations: Salt Lake, American Samoa, Guam, Northern Mariana Islands, United States, U.S
In my career, I've spent the last 12 years studying how the most successful, effective, and influential people speak. Over time, I noticed that there was a missing factor in our models that could make or break these deals: effective communication. Here are three communication strategies the most visionary leaders use. They use clear and simple languageWhen visionaries speak, they aren't overly complex or theoretical. Another visionary example I love comes from Nelson Mandela, who famously said "education is the most powerful weapon which you can use to change the world."
Persons: I've, Franklin Delano Roosevelt, Martin Luther King Jr, Wright, Amelia Earhart, Greta Thunberg, Sheryl Sandberg, we've, Nelson Mandela Organizations: TED, Economic
A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. Beijing has long touted its ambitions for increasing global use of the Chinese yuan — also known as the "renminbi" or "RMB" — in an international financial market where the U.S. dollar is the dominant currency. watch nowLast year, the HKEX announced a "Dual-Counter" program that allows investors to trade Hong Kong-listed securities in Hong Kong dollars or Chinese yuan. The euro was slightly higher at 5.6%, while the U.S. dollar dominated with a nearly 85% share, the data showed. A maturing financial marketDeveloping more Chinese yuan-denominated investment products also requires a maturation of the local financial sector.
Persons: China’s renminbi, Athit Perawongmetha, Bonnie Chan, Chan, We're, SWIFT, Fred Hu, Hu, it's, Patience, Kenny Lam Organizations: Reuters, Hong Kong Exchanges, U.S ., International Monetary Fund, U.S, Primavera Capital, Sigma Asia Locations: U.S, Bangkok, Thailand, Reuters DALIAN, China, Beijing, Russia, Dalian, Hong Kong, Shanghai, Pacific
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWEF in China: There's a more nuanced discussion here about Chinese EVs, says managing directorJeremy Jurgens, managing director of the World Economic Forum, says more electric vehicles need to be produced to speed up the energy transition.
Persons: Jeremy Jurgens Organizations: Economic Locations: China
HEFEI, China — The man who spearheaded China's electric car strategy on Wednesday said that Chinese investment in the European electric vehicles industry could be a way forward for both sides amid trade tensions. Spokespersons for China's foreign ministry and the European Commission were not immediately available when contacted by CNBC. China's Ministry of Commerce said over the weekend that it was launching consultations with the EU over the bloc's probe into the role of subsidies in Chinese electric cars. The EU said earlier this month that it would increase tariffs on imports of the vehicles. "Even though we are not exporting a large number of EVs, perhaps the Chinese companies can try investing in Europe," Wan said, noting that such funding could create local jobs.
Persons: Wan Organizations: Wan Gang, China Association for Science, Technology, European Commission, CNBC, China's Ministry of Commerce, EU Locations: HEFEI, China, EU, Dalian, Europe
HKEX CEO aims for more large-scale IPOs this year
  + stars: | 2024-06-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHKEX CEO aims for more large-scale IPOs this yearBonnie Chan, the new CEO of Hong Kong Exchanges and Clearing Limited, discusses her first 100 days and outlook at the World Economic Forum's Annual Meeting of the New Champions in Dalian, China.
Persons: Bonnie Chan Organizations: Hong Kong Exchanges, New Locations: Dalian, China
In the 1960s, there were six people of working age for every retired person, according to the World Economic Forum. “What you’re seeing is increased spending on programs like Medicare and Social Security as the baby boomers are aging into those programs. And then of course, fewer workers relative to the number of people who are receiving Social Security and Medicare benefits,” said Dahl. Social Security payments still provide about 90% of income for more than a quarter of older adults in the United States, according to Social Security Agency surveys. But without intervention, the Social Security trust fund will be depleted by the mid-2030s, meaning that only a portion of retirees’ expected benefits will be paid out.
Persons: it’s, Louis, Simona Paravani, , Elon Musk, Kimberly, Clark, Mark Schneider, he’s, Emmanuel Macron, Donald Trump, Molly Dahl, Dahl, Eric Schmidt, ” Schmidt, Goldman Sachs, Stefano Scarpetta, Li Qiang, Juliana Liu, Joyce Jiang, Li, China’s, Xi Jinping, Biden, Max Prosecutors, haven’t, Max, Read Organizations: London CNN, Organisation for Economic Co, Development, Economic, Federal Reserve Bank of St, BlackRock, Disease Control, Congressional Budget Office, CBO, Social Security, Social, Social Security Agency, Google, Summit, Federal Reserve Bank of Richmond, OECD, ” Companies, West Chinese, CNN, EV, Prosecutors, Boeing, Max, US Justice Department, Alaska Air, Justice Department, Federal Aviation Administration Locations: Chad, Niger, Somalia, Samoa, Tonga, Tajikistan, United States, London, China, Beijing, Dalian, Canada, Beijing’s “
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is one year worth of demand sitting in Chinese savings: McKinsey ChinaJoe Ngai, Greater China Chairman for McKinsey discusses Chinese Premier Li's speech to the World Economic Forum in Dalian, saying the world needs to get used to slower growth in China.
Persons: McKinsey China Joe Ngai Organizations: McKinsey China, McKinsey, Economic Locations: China, Dalian
China's Premier Li Qiang speaks during the 54th annual meeting of the World Economic Forum in Davos, Switzerland, January 16, 2024. Denis Balibouse | ReutersDALIAN, China — Chinese Premier Li Qiang on Tuesday defended the country's technological development while criticizing efforts to restrict global cooperation. His remarks, at the opening of the World Economic Forum's "Summer Davos" meeting in Dalian, China, came amid rising tensions with the EU over imports of Chinese electric cars. Andrzej Duda, president of Poland, and Pham Minh Chinh, prime minister of Vietnam, gave remarks after Li. The Chinese premier held state-level meetings in China with the two leaders ahead of the "Summer Davos."
Persons: Li Qiang, Denis Balibouse, Li, Andrzej Duda, Pham Minh Chinh, Duda Organizations: Economic, Reuters, EU Locations: Davos, Switzerland, Reuters DALIAN, China, Dalian, U.S, Poland, Vietnam, Beijing, Washington
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