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☆ Orange bitcoin Mercedes owner at Davos hits back at critics, says not his car's fault people lost money
▼ + stars: | 2023-01-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The orange Mercedes was parked along the Promenade in Davos. Nobody in the vicinity saw who parked it there. DAVOS, Switzerland — The mystery of the orange bitcoin car, that was first spotted by CNBC on Monday at the Alpine resort of Davos, Switzerland, has been solved and the owner is not impressed with its critics. But since the crypto market slide of 2022, there are far fewer crypto firms with flashy store fronts at Davos. CNBC asked people in the vicinity on Monday whose car it is but nobody saw who parked it.

☆ European Central Bank member says will not stop at one single 50 basis point hike, 'that's for sure'
▼ + stars: | 2023-01-19 | by ( Silvia Amaro | ) www.cnbc.com time to read: 1 min

DAVOS, Switzerland — The European Central Bank will not stop with one single 50 basis point hike at its next rate-setting meetings, one board member told CNBC Thursday. "It will not stop after a single 50 basis point hike, that's for sure," Klaas Knot, who serves as the governor of the Dutch central bank, said about the ECB's upcoming moves. The European Central Bank raised rates four times throughout 2022, bringing its deposit rate to 2%. 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.

"FTX in my view now gets painted as a crypto problem. I think if you really peel enough onion layers, it's not really a crypto ... problem to happen here, it's fraud. "We talk about this as a crypto problem. But really, this is just fraud, and I think in some ways, not that dissimilar than Bernie Madoff," said Garlinghouse. "When Bernie Madoff occurred, we didn't totally restructure how we thought about oversight and regulation of hedge funds."

☆ $1.4 trillion wipeout hits crypto industry at Davos — except for a lone flashy orange bitcoin car
▼ + stars: | 2023-01-18 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Along the Davos Promenade in 2023 there were fewer crypto companies than in previous years after the market crash. Last year, crypto firms from all walks of life took over the place. But since the market slide, there are far fewer crypto firms with flashy store fronts at Davos. He added that the crypto firms that have remained at Davos are "substantiative projects" and "the real deals" versus things like NFTs. There were also those in traditional finance who welcomed fewer crypto firms.

☆ 'Transformative, fascinating': Here's what top executives at Davos are saying about ChatGPT
▼ + stars: | 2023-01-18 | by ( Cadie Thompson | Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Buzzy AI chatbot, ChatGPT, has only been open to the public for a few weeks. Here's what top executives are saying about the technology at the World Economic Forum. Here's what top executives have been saying:Jeff Maggioncalda, Coursera CEOCoursera's CEO said ChatGPT is a mind-blowing "game changer" in an interview with Insider. Peggy Johnson, Magic Leap CEOJohnson told Insider she thought ChatGPT was "definitely a transformative technology." Becky Frankiewicz, ManpowerGroup CCO and presidentFrankiewicz said the chatbot was "super fascinating" and she had been experimenting with it to write job descriptions.

☆ The threat of a transatlantic trade war is dominating Davos
▼ + stars: | 2023-01-18 | by ( Silvia Amaro | ) www.cnbc.com time to read: +6 min

Trade tensions between the EU and the US are dominating the talk in Davos. Transatlantic trade tensions are dominating conversations at the World Economic Forum this week. On the one hand, European officials are saying they will come up with more financial support for European firms. On the other hand, the business community is excited about green subsidies stateside and argue the EU needs to match what the U.S. administration is doing. At the same time we have to support our competitiveness," European Commissioner for Economics, Paolo Gentiloni, told CNBC in Davos.

☆ Magic Leap CEO says Apple becoming a rival in augmented reality would actually be a good thing
▼ + stars: | 2023-01-17 | by ( Britney Nguyen | Cadie Thompson | ) www.businessinsider.com time to read: +3 min

Magic Leap's CEO said more money coming into the augmented reality space from competitors is "good." Apple is rumored to be readying its own headset, which would compete against Magic Leap and Microsoft. Apple is reportedly gearing up to launch its own headset this year, which would compete against other offerings from Magic Leap and Microsoft. Under Johnson, Magic Leap has pivoted toward building its Magic Leap 2 AR headset for enterprise use rather marketing it at consumers. Johnson pointed out that Apple is more consumer-focused, while Magic Leap is enterprise-focused, but said at some point, "we'll come circle back to consumer."

☆ ECB's Centeno projects 'a few' more rate hikes in the next couple of meetings 'at least'
▼ + stars: | 2023-01-17 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

DAVOS, Switzerland — There will be "at least" a few more rate hikes in the next couple of meetings, an ECB member told CNBC Tuesday. December inflation came in at 9.2% in the euro zone, according to preliminary numbers. "We have and can expect a few more rate hikes in the next couple of meetings at least," Mario Centeno, Governor of the Bank of Portugal, said in Davos. The latest ECB projections suggest a growth rate of 0.5% for the euro zone in 2023, followed by 1.9% in 2024. Economists have become more positive on the euro zone outlook in recent weeks.

☆ EU announces new green proposals to rival Biden's Inflation Reduction Act
▼ + stars: | 2023-01-17 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

The announcement comes just months after the U.S. launched its own Inflation Reduction Act. "The EU continues to seek similar, non-discriminatory treatment of EU clean vehicle producers under the Clean Vehicle Credits of the Inflation Reduction Act. This scheme remains of concern to the EU, as it contains discriminatory provisions," the European Commission said in a statement in late December. While discussions with the U.S. continue, von der Leyen wants to cut red tape in Europe and step up green investments. But as this will take some time, we will look at a bridging solution to provide fast and targeted support where it is most needed," von der Leyen said in Davos.

☆ ChatGPT is a mind-blowing 'game changer' that feels like magic, says Coursera CEO
▼ + stars: | 2023-01-17 | by ( Aaron Mok | Cadie Thompson | ) www.businessinsider.com time to read: +4 min

Coursera CEO Jeff Maggioncalda said that ChatGPT is a mind-blowing "game changer," per Insider. Maggioncalda said that he uses ChatGPT daily and plans on adding it to the firm's course catalog. Maggioncalda plans on integrating ChatGPT into Coursera's course catalog that will likely roll out this year, according to a spokesperson at Coursera. Maggioncalda's endorsement comes as companies experiment with AI tools, including ChatGPT, to find ways to integrate AI capabilities into their products and services. Some people have used ChatGPT to generate Mozart-inspired piano music, write and illustrate a children's book in 72 hours, and even come up with responses to dating app matches.

DAVOS, Switzerland — Spanish Prime Minister Pedro Sanchez told CNBC Monday that the European Union has something to learn from Washington and its new policies to fight inflation, saying he hopes that a trade war between the two sides can be avoided. "We need to learn," Sanchez told CNBC when asked the Inflation Reduction Act which the U.S. hopes will make it the go-to place for green investment. "We need to reform some internal aspects of our industrial policies such as state aid, reducing bureaucracy and trying to send a message for the industry worldwide that's it's Europe, and of course Spain, that is a good place to locate," he added. The sweeping U.S. legislation, which was approved by U.S. lawmakers in August and includes a record $369 billion in spending on climate and energy policies, has received a mixed response from the 27 EU nations. The European Commission, the executive arm of the EU, has previously said there are "serious concerns" about the design of the financial incentives in the package.

☆ A 29-year-old part-time remote worker living abroad and making $4,000 a month explains how she finds work and affords her lifestyle
▼ + stars: | 2022-12-25 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

She is among a growing number of digital nomads, or remote workers who travel for weeks, months, or — in Checchi's case — "for the foreseeable future." Driving this trend is the growing flexibility of remote work, a longing to see the world, and the desire to cut costs. As of June, over 25 countries had introduced digital-nomad visa programs aimed at luring remote workers and their wallets. The challenges of a nomadic lifeWhen she's not traveling, Checchi has a home base in Tel Aviv, which she chose in part for its accessibility to both Europe and Asia. While Tel Aviv can be quite an expensive place to live, Checchi pays $871 per month to rent an apartment with a couple.

☆ TikTok makes clear European data can be accessed by China-based employees
▼ + stars: | 2022-11-03 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN Business —TikTok updated its privacy policies for European users on Tuesday, adding explicit disclosures that personal data from the app may be viewed by employees in China. The announcement, which TikTok said was aimed at providing greater transparency, applies to users in the European Economic Area, the UK and Switzerland — not the United States, though TikTok said it does store European users’ data in the US and in Singapore. In addition to China, TikTok data may be handled by employees in countries including Brazil, Canada, Israel, Japan, Malaysia, the Philippines, Singapore, South Korea and the US, the company said. TikTok has also migrated US user data from proprietary servers in the US and Singapore to cloud-based servers hosted by Oracle. But that has not dampened criticism that user data could still be accessed by China-based individuals subject to that country’s security laws, a practice TikTok would not commit to stopping and further emphasized would continue with Tuesday’s European policy update.

☆ European gas prices jump after Gazprom warns it could cut its last flows Europe, amid worries about apparent Nord Stream sabotage
▼ + stars: | 2022-09-28 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Denmark said the Nord Stream 1 pipeline gas leaks in the Baltic Sea were likely deliberate sabotage. European natural gas benchmarks jumped above 200 euros )$191.56) early Wednesday due to worries about the risks to gas supplies to Europe. The region is already facing an energy crisis after Russia choked off flows via the key Nord Stream 1 pipeline. Investors meanwhile were monitoring developments after recent damage to the Nord Stream 1 and Nord Stream 2 pipelines, which are leaking natural gas into the Baltic Sea. The US Central Intelligence Agency warned Germany weeks ago about potential attacks on Nord Stream, German magazine Der Spiegel reported Tuesday.

☆ With close military encounters on opposite sides of the world, Russia is sending a message to the West
▼ + stars: | 2021-07-15 | by ( Christopher Woody | ) www.businessinsider.com time to read: +7 min

Russia's military had close encounters with its US and European rivals in June. The incidents and exercises were messages about Russia's military capabilities, experts said. A Russian fighter jet flying past the Dutch frigate HNLMS Evertsen in the Black Sea on June 24. Russia's military drilled around Crimea throughout the end of June and early July, focusing on attacking the ships of "a notional enemy." Russian officials continue to call the HMS Defender incident a "provocation" and warn about future run-ins.

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