World economy
Citi CEO Jane Fraser is convinced Europe will fall into a recession
Citigroup CEO Jane Fraser has told CNBC she is convinced Europe is headed into a recession. Speaking at the World Economic Forum Monday, Fraser said that a confluence of factors, including the war in Ukraine and resulting energy crisis, have left Europe vulnerable to a sizeable downturn even as other parts of the world show […]
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Watch IMF chief Kristalina Georgieva and Citigroup CEO Jane Fraser discuss the global economy
[The stream is slated to start at 11:30 a.m. ET. Please refresh the page if you do not see a player above at that time.] Spiraling food and energy prices are squeezing households around the world, while central banks are tightening monetary policy to rein in inflation, exerting further pressure on indebted nations, companies and […]
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Credit Suisse chairman denies reports of talks to replace CEO Gottstein
The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. Arnd Wiegmann | Reuters Credit Suisse Chairman Axel Lehmann has denied reports that talks have taken place to explore replacing CEO Thomas Gottstein. Bloomberg News reported earlier this month, citing sources close to the matter, that the […]
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Google, Meta and Amazon will benefit from the Ukraine war, ad guru Martin Sorrell says
Martin Sorrell, founder and chairman of media firm S4 Capital, believes the war in Ukraine has the potential to benefit three of America’s biggest tech firms. “I’m very bullish on the tech giants … because the war will have an impact on them,” Sorrell told CNBC at the World Economic Forum in Davos Monday. He […]
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Oxfam calls for an end to billionaire ‘bonanza,’ say millions are falling into extreme poverty
Olga Shumytskaya | Moment | Getty Images A new billionaire emerged every 30 hours during the Covid-19 pandemic, and nearly a million could fall into extreme poverty at around the same rate in 2022. Those are the sobering statistics recently released by Oxfam. There were 573 more billionaires in the world by March 2022 than […]
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Any potential recession will be ‘light,’ Qatar Investment Authority CEO says
The CEO of Qatar’s sovereign wealth fund believes that if the world sees a recession, it will be “light.” Rising fears of a looming recession pushed U.S. stocks briefly into a bear market on Friday, as Covid-19 related shutdowns in China, rising interest rates and a cost of living crisis impact investor sentiment. “The sell-off […]
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Vaccinated and tested, the rich and powerful descend on the snowless hills of Davos
The World Economic Forum is returning to Davos in May after cancelling previous meetings because of the coronavirus pandemic. Fabrice Coffrini | Afp | Getty Images The rich, famous and most powerful are once again returning to the Alpine retreat of Davos, Switzerland, next week following a two year coronavirus-induced hiatus that had forced the […]
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EV maker Lucid to accelerate plans with its Saudi Arabia factory, its first outside the U.S.
U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced. Javier Blas | Bloomberg | Getty Images U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company has announced. The manufacturing facility will be able to produce 155,000 […]
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European stocks close lower as UK inflation hits 40-year high; Stoxx 600 down 1.1%
LONDON — European stocks closed lower on Wednesday as fears over inflation rattled markets on either side of the Atlantic. Stock picks and investing trends from CNBC Pro: Global markets have remained bogged down by fears of aggressive monetary policy tightening and slowing economic growth. Earnings before the bell came from ABN AMRO, Burberry, British […]
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India isn’t the only one banning food exports. These countries are doing the same
India has banned wheat exports as the price of grain surged this year due in part to the Russia-Ukraine war. T. Narayan | Bloomberg | Getty Images India has banned wheat exports, becoming the latest country to do so as the price of grain surged this year due in part to the Russia-Ukraine war. The […]
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