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☆ Ukraine says there's no evidence for Russia's claim that dozens of POWs died in a plane crash
▼ + stars: | 2024-01-27 | by ( ) www.cnbc.com time to read: +4 min

The Russian Defense Ministry said Wednesday that missiles fired from across the border brought down the transport plane that it said was taking the POWs back to Ukraine. Local authorities in Belgorod, which borders Ukraine, said the crash killed all 74 people onboard, including six crew members and three Russian servicemen. Kyiv has neither confirmed nor denied that its forces downed a Russian military transport plane that day, and Russia's claim that the crash killed Ukrainian POWs could not be independently verified. An International Committee of the Red Cross spokesperson in Ukraine urged Russia on Friday night to return the bodies of any POWs who might have died in the plane crash. While Ukraine and Russia regularly exchange the bodies of dead soldiers, each trade has required considerable preparation, Vlasenko said.

Persons: Volodymyr Zelenskyy, CNBC's Andrew Ross Sorkin, Moscow, Kyrylo, Budanov, Mykola Oleshchuk, Oleksandr Vlasenko, Vlasenko, Vladimir Putin, Putin Organizations: Russian, Wednesday, Ukraine's, Staff, Kyiv, Russian Defense Ministry, Local, Social, International Committee, Red Cross, U.S, Free, Radio Liberty, Red Cross Media Locations: Davos, Switzerland, Ukraine, Russia, Ukrainian, Russia's Belgorod, Belgorod, Russian, Kyiv, Moscow, Free Europe, thoughtlessness, St . Petersburg

☆ Ukraine begins EU accession talks; U.S. military aid hangs in the balance
▼ + stars: | 2024-01-26 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Ukraine formally started the screening process to begin talks over its future membership of the European Union on Thursday, President Volodymyr Zelenskyy said. In a post on X, the Ukrainian leader said he welcomed the start of "substantial preparations for Ukraine's EU accession talks" in Brussels, following an agreement reached with EU Commission President Ursula von der Leyen last week at the World Economic Forum in Davos, Switzerland. "The thorough work of assessing the conformity of Ukrainian legislation with EU norms, the formation of Ukraine's delegation, and our negotiating position are all ahead of us," Zelenskyy added. "I expect full engagement of Ukrainian government team and the first intergovernmental conference to be held already this spring." The White House said last week that the U.S. money supply to Ukraine has now run out, which could leave Kyiv ill-equipped to repel the Russian invasion.

Persons: Volodymyr Zelenskyy, Ursula von der Leyen, Zelenskyy, John Thune Organizations: European Union, EU, Economic, U.S, Republican, Reuters Locations: Ukraine, Brussels, Davos, Switzerland

☆ Shein rejects Amazon 'clone' talk as it prepares for U.S. listing
▼ + stars: | 2024-01-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Chinese-founded online retail giant Shein is not positioning itself as an Amazon "clone," the company told CNBC, as it prepares for a U.S. public listing later this year. But that expansion will vary from market to market, and skew heavily toward Generation Z — born between the late 1990s and early 2000s — and younger Millennial consumers, who were born between the early 1980s and late 1990s. "I don't see us an an Amazon clone per se," Pernot-Day said at the World Economic Forum in Davos, Switzerland. "So, product categories vary across these markets. But the core point is that being receptive and responsive to Generation Z, younger Millennial shoppers, is something that leads to growth," he added.

Persons: Peter Pernot, —, Inditex Organizations: CNBC, Economic Locations: U.S, Davos, Switzerland, The Singapore, Zara

☆ Watch the full CNBC Leaders interview with World Bank President Ajay Banga
▼ + stars: | 2024-01-26 | 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 EmailWatch the full CNBC Leaders interview with World Bank President Ajay BangaCNBC's Sara Eisen sits down with World Bank President Ajay Banga for a CNBC Leaders interview from the World Economic Forum in Davos, Switzerland.

Persons: Ajay Banga, Sara Eisen Organizations: CNBC, World Bank, Economic Locations: Davos, Switzerland

BANGKOK (AP) — China’s leaders launched a barrage of new policies this week to prop up languishing financial markets and rekindle growth in the world’s second-largest economy. The moves to support lending and spending with billions of dollars of fresh cash gathered pace when the central bank cut bank reserve requirements and issued new rules to encourage banks to lend more to property companies. HOW IS THE CHINESE ECONOMY DOING? The Chinese economy grew at a 5.2% annual pace in 2023, exceeding the government's target, and many indicators including factory output and retail sales show signs of improvement. The moves to put more money into the economy and encourage bank lending might not go far enough, many analysts said.

Persons: —, Premier Li Qiang, ”, It's, Pan Gongsheng, ” Stephen Innes Organizations: State Council, Economic, People's Bank of China Gov, Management Locations: BANGKOK, United States, China, Premier, Davos, Switzerland, Hong Kong, Beijing

☆ Top business leaders bemoan archaic systems in Europe that are curbing climate solutions
▼ + stars: | 2024-01-26 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +2 min

Ester Baiget, the CEO of biosolutions firm Novozymes, said that "roadblocks" usually stand in the way of companies producing sustainable solutions which needed to be removed. watch nowMicrobes have been put forward as an alternative to reduce the use of chemical fertilizers, which contribute to greenhouse gas emissions. However, new microbial fertilizers need to go through regulatory approval before going to market. We need to rethink regulation in regions like Europe." Kadri also said there was a "lack of competitiveness in Europe," referring to the difficulties faced by her sector.

Persons: Lukas Schulze, Ester Baiget, Novozymes, Baiget, Steve Sedgwick, Ilham Kadri, Kadri Organizations: Getty, CNBC, Economic Locations: Bergheim, Germany, Davos, Switzerland, Europe

Political Cartoons View All 253 ImagesMicrosoft’s years-long relationship with OpenAI is the best known of the partnerships. Google and Amazon have more recently made multibillion-dollar deals with Anthropic, another San Francisco-based AI startup formed by former leaders at OpenAI. The European Union and the United Kingdom have already signaled that they might also scrutinize the relationship with Microsoft and OpenAI. Antitrust advocates welcomed the actions from both the FTC and Europe into the deals that some have derided as quasi-mergers. The companies have 45 days to provide information to the FTC that includes their partnership agreements and the strategic rationale behind them.

Persons: OpenAI, ”, Lina Khan, Khan, Microsoft didn't, Matt Stoller, Satya Nadella, Kara Swisher, Sam Altman, Nadella, “, ” Nadella, Altman’s, It’s, They’re, Kelvin Chan Organizations: Google, Microsoft, U.S . Federal Trade Commission, FTC, Anthropic, OpenAI, European Union, Antitrust, Big Tech, American Economic Liberties, “, Intel, Bloomberg, Economic Locations: San Francisco, United Kingdom, Europe, OpenAI, Davos, Redmond , Washington, Iowa, Switzerland, London

☆ Will leaders stay focused on the green agenda? Watch CNBC’s Sustainable Future Forum from Davos 2024
▼ + stars: | 2024-01-25 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

CNBC's "Sustainable Future Forum" returned as a special event live from the 54th Annual Meeting of the World Economic Forum in Davos, Switzerland. CNBC convened top policymakers and business leaders to evaluate the outcomes of COP28 and examine what needs to happen in 2024 to ensure pledges are upheld, and progress is made. This panel examines what needs to happen to stay on course. watch nowNavigating the Energy TransitionCOP28 climate summit reached a historic deal to transition away from fossil fuels but did the agreement go far enough? Guests on the panel included: Marco Alvera, CEO, TES Vaishali Sinha, co-founder, ReNew Alfred Stern, CEO, OMV Bold Baatar, CEO, Rio Tinto Copper Henrik Andersen, CEO, Vestas

Persons: Badr Jafar, Daniel F, Feldman, John Kerry, Biden Rachel Kyte, Sanda Ojiambo, Tania Bryer, Kofi Annan, Marco Alvera, TES Vaishali Sinha, Alfred Stern, OMV, Rio Tinto Copper Henrik Andersen, Vestas Organizations: Economic, CNBC, Crescent Petroleum, Business, Philanthropy, Conference of, UN, Partner, Staff, Initiative, Energy, TES Vaishali, Rio Tinto Copper Locations: Davos, Switzerland, Dubai, Covington, Rio

☆ UN's Usher highlights financing challenge for companies in green transition
▼ + stars: | 2024-01-25 | 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 EmailUN's Usher highlights financing challenge for companies in green transition"The money is starting to move away from the really non-green stuff but the real challenge is everything in between – some would say the '50 shades of green'," the head of the United Nations Environment Programme Finance Initiative, Eric Usher, told CNBC at this year's World Economic Forum in Davos, Switzerland.

Persons: Eric Usher Organizations: United Nations Environment, Finance, CNBC, Economic Locations: –, Davos, Switzerland

☆ These 'unusual' 4 traits helped Jeff Bezos grow Amazon into a $1 trillion company, says current CEO
▼ + stars: | 2024-01-25 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +5 min

Jeff Bezos built Amazon into a tech behemoth and "everything store" that's now worth $1.6 trillion. Jassy, Bezos' longtime deputy, took the company's reins after the Amazon founder stepped down in 2021. "There aren't too many other bigger thinkers than Jeff Bezos," Jassy said, adding: "He always had a way of getting teams to think bigger." Jassy nonetheless touted Bezos' approach for inspiring great work from employees that helped fuel Amazon's success. "[Bezos] had a way of having really high standards, and then having everybody really stretch and aspire to those standards."

Persons: Jeff Bezos, Andy Jassy, Fortune, Bezos, GeekWire, Jassy, Jeff, You've, it'll Organizations: Economic, Amazon, Pacific Science Center, Web Services Locations: Davos, Switzerland

☆ Iran's ‘brazen’ strikes around the Middle East send a message to Israel and the U.S., analysts say
▼ + stars: | 2024-01-24 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Fayaz Aziz | ReutersIran's recent missile and drone strikes on targets in three countries — Syria, Iraq and Pakistan — may not have been directly related to Israel's war in the Gaza Strip but they still revealed an intent to send a clear message, analysts told CNBC. Iraqi and Pakistani ministers vocally criticized the attacks, calling them a "violation" and vowing consequences. watch nowPakistan responded a day later, striking targets inside Iran that Iranian authorities say killed several people. They were also the first time Iran had deployed its military directly at any time since the Israel-Hamas war began. "There is an element of signaling to the United States and Israel by carrying out these strikes because they do showcase Iran's continued ballistic missile capabilities," Bohl told CNBC.

Persons: Fayaz Aziz, Ben Taleblu, we've, Ian Bremmer, Yemen's, Ryan Bohl, Bohl, Safin Hamid Organizations: Reuters, CNBC, ISIS, Foundation for Defense, Democracies, Washington D.C, Israel, Gaza, Hamas, Eurasia Group, Economic, Middle East, RANE Network, Iran's Revolutionary Guard Corps, AFP, Getty Locations: Iran, Tehran, Israel, Peshawar, Pakistan, Syria, Iraq, Gaza, Washington, Israeli, Iraq's Kurdistan, State, Iraqi, Davos, Lebanon, Hamas, Yemen, U.S, Red, United States, Kurdistan, Arbil

☆ Watch the full CNBC Leaders interview with UBS CEO Sergio Ermotti from Davos
▼ + stars: | 2024-01-24 | 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 EmailWatch the full CNBC Leaders interview with UBS CEO Sergio Ermotti from DavosUBS CEO Sergio Ermotti sits down with CNBC's Sara Eisen for a one-on-one interview from the World Economic Forum in Davos, Switzerland.

Persons: Sergio Ermotti, CNBC's Sara Eisen Organizations: CNBC, UBS, Davos UBS, Economic Locations: Davos, Switzerland

☆ China tries to halt stock market rout by boosting lending and wooing foreign investors
▼ + stars: | 2024-01-24 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —China has vowed to pump more money into the economy and further open its $64 trillion financial industry to international investors, as Beijing scrambles to restore confidence following a massive stock market rout. The astonishing losses, reminiscent of the last Chinese stock market crash of 2015-2016, highlight a crisis of confidence among investors concerned about the country’s future. It will allow Hong Kong banks to expand their businesses in mainland China and reduce the barriers to investing in mainland insurers. Last month, China Reform Holdings, a state-owned investment fund, announced it had bought tech-focused index funds to support the market. The brutal sell-off in Chinese stock markets has even forced some hedge fund managers to apologize for making wrong bets.

Persons: Li Yunze, “, Pan Gongsheng, Goldman Sachs, Li, ”, Lam, Li Qiang, Wang Zhao, Premier Li Qiang, Stringer, Li Bei Organizations: Hong Kong CNN, Administration of Financial, People’s Bank of, Buildings, New Champions, Getty, Premier, Xinhua, Reuters, Securities Daily, Social Security Fund, China Reform Holdings, Central Huijin Investment, Shanghai Banxia Investment Management Locations: China, Hong Kong, Beijing, Shanghai, Shenzhen, People’s Bank of China, Victoria Harbour, British, Tianjin, AFP, Central, Fuyang, China's, Anhui

☆ A nationwide strike in Argentina poses major test to Milei’s economic ‘shock therapy’
▼ + stars: | 2024-01-24 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Argentina's largest labor union grouping on Wednesday is expected to hold a nationwide general strike to protest President Javier Milei's shock economic agenda. The strike represents a significant test for Milei, who has announced sweeping measures to deregulate Latin America's third-largest economy. "The general strike is more of a political test for the labour unions than for Milei," Jimena Blanco, head of Americas at risk consultancy Verisk Maplecroft, told CNBC via email. "Regardless of attendance, the strike caters to the unions' own support base and, at this stage, is not representative of wider social sentiment. However, it has the potential to grow in the future as the impacts of the economic shock plan become palpable."

Persons: Javier Milei, Javier Milei's, del Trabajo, Jimena Blanco, Verisk Maplecroft Organizations: Economic, Analysts, CNBC Locations: Davos, Switzerland, Argentina, Americas

☆ Bosses, here's how to get your employees using AI
▼ + stars: | 2024-01-23 | by ( Kylie Kirschner | Cadie Thompson | ) www.businessinsider.com time to read: +3 min

Some 31% of organizations reported that employees are reluctant or even outright resistant to using AI, according to the Cisco AI Readiness Index. AdvertisementCompany leaders at the World Economic Forum told Business Insider there's one simple thing bosses can do: be clear about what you want to use AI for. Centoni suggests outlining the potential benefits of using AI and providing specific examples of how it might be used. Jeff Maggioncalda, CEO of Coursera, says it's important to explain to employees how AI might make their jobs better or more enjoyable. And over time, he says he expects AI to lead to both revenue growth and growth in the workforce.

Persons: —, Liz Centoni, Jeff Maggioncalda, Maggioncalda, Paul Knopp, Knopp Organizations: Service, Business, Cisco, Economic Forum, KPMG Locations: Davos

☆ SAP plans job changes or buyouts for 8,000 employees in restructuring plan
▼ + stars: | 2024-01-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

SAP CEO Christian Klein speaks at a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 19, 2023. SAP said on Tuesday that it aims to carry out voluntary buyouts or enable job changes for 8,000 employees as part of a restructuring program for 2024. SAP said it now expects 10 billion euros ($10.85 billion) in 2025 adjusted operating profit. That was above the consensus of 8.33 billion euros among analysts polled by LSEG. WATCH: SAP CEO says 2024 will be year AI moves from discovery to execution

Persons: Christian Klein, Klein, Jennifer Morgan, Bill McDermott, LSEG Organizations: Economic, SAP, Nasdaq, Adobe, Microsoft, Oracle Locations: Davos, Switzerland, German

☆ 'It's really bad': China strategist warns of deflation and rock-bottom consumer confidence
▼ + stars: | 2024-01-23 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

BEIJNG, CHINA - NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. The economy here is bad, it's pretty ... it's really bad. In December, depressed prices for pork — which makes up around a fifth of China's CPI basket — heralded the possible advent of deflation. The decision comes amid infectious expectations among investment banks that China's economy will expand at a more sluggish pace in 2024. Despite this, the International Monetary Fund in November outlined a forecast for China's growth to slow in 2024 to just 4.6%.

Persons: Gao Zehong, it's, I've, Shaun Rein, CNBC's, Rein, Li Qiang, Li Organizations: Getty, China Market Research Group, CPI, People's Bank of China, Economic, International Monetary Fund Locations: BEIJNG, CHINA, Beijing, China, Davos, Switzerland

☆ Watch the full CNBC Leaders interview with Salesforce CEO Marc Benioff
▼ + stars: | 2024-01-23 | 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 EmailWatch the full CNBC Leaders interview with Salesforce CEO Marc BenioffCNBC's Sara Eisen sits down with Salesforce CEO Marc Benioff at the World Economic Forum in Davos.

Persons: Marc Benioff, Sara Eisen Organizations: CNBC, Economic Locations: Davos

☆ Premarket stocks: The world is a mess and Wall Street isn’t paying attention
▼ + stars: | 2024-01-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But geopolitical tensions are growing and Wall Street appears to be underestimating their potential impact on the global economy and markets. The United States and China are squabbling about trade, particularly high-powered AI chips that both believe carry consequences for national security. Less trade could mean lower supplies to meet demand — and that could be bad news for inflation around the world. Bank of America also gave geopolitical risk a top spot on its list of surprises that could affect markets in 2024. It’s the worst start to a year for Chinese stocks since 2016, when investors were ditching their holdings following a market crash in 2015.

Persons: ”, “, Jamie Dimon, dory, he’s, Anna Cooban, Laura He, Hong, Premier Li Qiang, Ken Cheung, Catherine Thorbecke Organizations: New, New York CNN, Dow Jones, Federal Reserve, BlackRock, Shipping, CNBC, Economic, Bank of America, Center for Strategic, International Studies, Apple, Google, Microsoft, Meta, Nvidia, “, Shenzhen Component, Premier, Mizuho Bank, MIT’s Computer, Artificial Intelligence Locations: New York, Russia, Ukraine, United States, China, Taiwan, Suez, Iranian, Pakistan, Iran, Europe, Asia, Drewry, Yemen, Davos, Switzerland, Wall, Shanghai, Shenzhen

☆ Jane Goodall Says 2024 is the ‘Most Consequential Voting Year’
▼ + stars: | 2024-01-23 | by ( David Gelles | ) www.nytimes.com time to read: +1 min

When I caught up with Jane Goodall in 2019, she was calling on consumers and businesses to make responsible choices and protect the natural world. And in a year when more than 40 countries — including the United States, India and South Africa — will be electing their leaders, Goodall is telling anyone who will listen that the health of Earth itself is on the ballot. “Half of the population of the planet is going to be voting,” she said on the sidelines of the World Economic Forum in Davos last week. “This year could be the most consequential voting year in terms of the fate of our planet.”As my colleague Manuela Andreoni wrote last week, the leaders elected this year will face consequential choices on energy policy, deforestation and emissions reductions. In the United States, Republicans are planning to undo environmental regulations if former president Donald J. Trump wins re-election.

Persons: Jane Goodall, Goodall, ”, Manuela Andreoni, Donald J, Claudia Sheinbaum Organizations: Economic, Trump Locations: United States, India, South Africa, Davos, Mexico, Mexico City

☆ Tech execs say a type of AI that can outdo humans is coming, but have no idea what it looks like
▼ + stars: | 2024-01-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Sam Altman, CEO of OpenAI, during a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. Altman was temporarily booted from OpenAI in November in a shock move that laid bare concerns around the governance of the companies behind the most powerful AI systems. In a discussion at the World Economic Forum in Davos, Altman said his ouster was a "microcosm" of the stresses faced by OpenAI and other AI labs internally. "We're already seeing areas where AI has the ability to unlock our understanding ... where humans haven't been able to make that type of progress. Avoiding a 's--- show'Altman wasn't the only top tech executive asked about AI risks at Davos.

Persons: Sam Altman, Google's DeepMind, Salesforce, Altman, chatbot, We've, it's, Aidan Gomez, OpenAI, Gomez, CNBC's Arjun Kharpal, AGI, it'll, Lila Ibrahim, Ibrahim, CNBC's Kharpal, who've, haven't, Marc Benioff, Elon Musk, Steve Wozniak, Andrew Yang, Geoffrey Hinton, Hinton, Benioff Organizations: Economic, Bloomberg, Getty, Microsoft, Union, ABC News, ABC, OpenAI, CBS Locations: Davos, Switzerland, United States, Cohere, Hiroshima

☆ Many remote employees have 'no attachment' to their work, and no passion or creativity, the CEO of cosmetics giant L'Oreal says
▼ + stars: | 2024-01-22 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Read previewL'Oreal's CEO had some harsh words for remote workers , saying they lack attachment, passion, or creativity in their roles, during the World Economic Forum in Davos, Switzerland. L'Oreal USA's former CEO Stephane Rinderknech called the company's 11,000 employees back to the office in a staggered process in July 2020. "It's vital for the company, and it's vital for the employees. CEOs have changed their tune on remote work since the pandemic saying that employees are more productive and efficient in the office. AdvertisementNumerous firms including Google, Meta, Starbucks, and JPMorgan have walked back their remote working policies as a result, and are requiring workers to come back to the office .

Persons: —, Nicolas Hieronimus —, Hieronimus, L'Oreal USA's, Stephane Rinderknech, It's Organizations: Service, Economic, Business, Daily Telegraph, L'Oreal, Google, Meta, JPMorgan Locations: Davos, Switzerland, French, California

☆ Blockchain, the tech behind bitcoin, may have found its 'killer use case' by keeping AI in check
▼ + stars: | 2024-01-22 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Businesses have been looking to put these principles to use in other applications for blockchain, which is sometimes referred to as distributed ledger technology. That means the answers an AI system may give would contain those biases and false information. In the case of AI, training data can be put on the blockchain. Hallucinations broadly refer to when an AI system gives out false information. Sheila Warren, the CEO of the Crypto Council for Innovation, said, however, that a blockchain-based AI training data ledger could be the "killer use case" for the technology.

Persons: Blockchain, Parlika, Sheila Warren, Warren Organizations: CNBC, Casper Labs, IBM, Economic, Crypto, Innovation Locations: DAVOS, Switzerland, Davos

☆ Watch the full CNBC Leaders interview with Saudi Aramco CEO Amin Nasser
▼ + stars: | 2024-01-22 | 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 EmailWatch the full CNBC Leaders interview with Saudi Aramco CEO Amin NasserAmin Nasser, Aramco CEO, speaks with CNBC's Sara Eisen from the World Economic Forum in Davos in an exclusive interview.

Persons: Amin Nasser Amin Nasser, CNBC's Sara Eisen Organizations: CNBC, Saudi, Aramco, Economic Locations: Davos

☆ What Microsoft’s hack means for its $20 billion cybersecurity franchise and its rivals
▼ + stars: | 2024-01-22 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Microsoft 's hacking disclosure could be a challenge for its $20 billion-a-year cybersecurity franchise but bullish news for fellow portfolio name and rival Palo Alto Networks. Microsoft stock was trading modestly lower Monday but has climbed more than 5% since the start of 2024 following last year's 56% gains. Microsoft's cybersecurity incident doesn't leave us any less bullish on the mega-cap name. While its cybersecurity business pulls in about $20 billion in annual sales, Microsoft's revenue jumped 7% in 2023 to nearly $212 billion. The Securities and Exchange Commission's (SEC) new disclosure rules around cybersecurity attacks could be another catalyst for Palo Alto, Jim added.

Persons: hasn't, Nobelium, Jim Cramer, Jim, Palo, Exchange Commission's, Nikesh Arora, Estee Lauder, Clorox, Okta, Jim Cramer's, Satya Nadella, Justin Sullivan Organizations: Microsoft, Palo Alto Networks, Wall, SolarWinds, Apple, JPMorgan, Securities, Exchange, SEC, Palo Alto, Corporations, Palo, CNBC, MGM Resorts, Caesars Entertainment Locations: Russian, Palo, Palo Alto, Davos, Switzerland, San Francisco

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