Breaking News: Davos
Trade war is a ‘zero-sum game,’ Spain’s PM warns, as Trump threatens EU with tariffs
A trade war is not in the interest of the European Union or the U.S., Spain’s prime minister told CNBC Wednesday. “We share a strong transatlantic bond … our economies are very interlinked and I believe a trade war is not in the interest [of either party], neither for the U.S., neither for the European […]
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Jamie Dimon says Trump’s tariff policy is positive for national security so people should ‘get over it’
JPMorgan Chase CEO Jamie Dimon said Wednesday the looming tariffs that President Donald Trump is expected to slap on U.S. trading partners could be viewed positively. Despite fears that the duties could spark a global trade war and reignite inflation domestically, the head of the largest U.S. bank by assets said they could protect American […]
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Europe must be prepared for Trump tariffs, European Central Bank chief warns
Europe must “be prepared” and anticipate the potential trade tariffs of newly inaugurated U.S. President Donald Trump, European Central Bank President Christine Lagarde told CNBC on Wednesday. She said the fact that Trump had not imposed blanket tariffs on the first day of his presidency was a “very smart approach … because blanket tariffs are […]
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Europe ready to respond ‘in a proportionate way’ as Trump touts tariffs, top EU official says
Europe will respond to any tariffs imposed by U.S. President Donald Trump in a proportionate way, the European Union’s commissioner for the economy told CNBC on Wednesday. “If there is a need to defend our economic interests, we will be responding in a proportionate way,” Valdis Dombrovskis told CNBC’s Steve Sedgwick on the sidelines of […]
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Bank of Israel governor expects higher short-term inflation but rate cuts ‘feasible’ this year
Israel’s central bank governor on Tuesday said he sees one to two potential interest rate cuts in the second half of this year, suggesting confidence that domestic inflation will ease in the coming months. Inflation, which hit 3.2% in December, is “still above our target, which is between 1% and 3%,” Bank of Israel Governor […]
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Bank of America CEO says financial industry will jump into crypto payments if regulators allow it
Bank of America CEO Brian Moynihan said Tuesday that the U.S. banking industry will embrace cryptocurrencies for payments if regulators allow it. The head of the second largest U.S. bank by assets was asked by CNBC’s Andrew Ross Sorkin about how the industry’s approach to crypto could change given President Donald Trump’s enthusiasm for digital […]
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Europe must ‘wake up’ and boost competitiveness — or risk falling behind in the Trump era, CEOs warn
European business chiefs on Tuesday warned that the region risks falling behind its U.S. and Asian counterparts, if it fails to innovate and adapt to a fast-changing world that is expected to see an acceleration of global policy changes during President Donald Trump’s second term in office. Europe was “always lagging behind” its counterparts in […]
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Abu Dhabi’s $330-billion sovereign wealth fund says no one appreciates the level of disruption that AI is about to unleash
Khaldoon Al Mubarak, CEO of Mubadala, an Abu Dhabi sovereign wealth fund Marc Atkins | Getty Images Sport | Getty Images The world has yet to fully recognize the extent of change artificial intelligence will bring to every aspect of human life, the CEO of Abu Dhabi sovereign wealth fund Mubadala told CNBC at the […]
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Grayscale CEO suggests most of the 11 permitted bitcoin ETFs received't survive, defends optimum charges in sector
Michael Sonnenshein at the 2022 Forbes Iconoclast Summit at New York Historic Society on Nov. 3, 2022. Arturo Holmes | Getty Images Entertainment | Getty Illustrations or photos DAVOS, Switzerland — Grayscale Investments CEO Michael Sonnenshein told CNBC that most of the authorized bitcoin exchange-traded money is not going to endure, while defending the best fees […]
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The ‘greatest tragedy’ would be if central banks you should not end the work on inflation, Larry Summers claims
Larry Summers at the Earth Financial Forum in Davos, Switzerland. David A. Grogan | CNBC Central banking companies not ending what they have commenced in bringing inflation back again to Earth would be the “best tragedy” for the world financial state, according to former U.S. Treasury Secretary Larry Summers. Central financial institutions all around the […]
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