Britain’s competition regulator said Rupert Murdoch buying all of Sky was not in the public interest because it would give the media mogul too much influence, but set out possible remedies that could allow the $15 billion deal to go ahead. The initial ruling complicates a plan by Walt Disney Co to buy many of […]
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Russia has 'learned its lesson' about oil price volatility, wealth fund chief says
Russia has “learned its lesson” about oil price volatility, the chief executive of the Russian Direct Investment Fund (RDIF) told CNBC Tuesday. Speaking from the World Economic Forum in Davos, RDIF CEO Kirill Dmitriev emphasized the importance of diversification in the Russian economy. “For the Russian economy we continue to focus on diversification. We expect […]
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Stop focusing on the 1% and start caring about the average worker, Blackstone's Studzinski says
World leaders and media organizations should stop focusing on economic growth and the rise of the super-rich and start understanding the challenges of the average worker, John Studzinski, vice chairman of Blackstone Group, told CNBC Tuesday. Speaking on the sidelines of the World Economic Forum (WEF) in Davos, Studzinski said looking to worldwide gross domestic […]
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There are two types of bitcoin investor … and we need to protect one of them, UBS chairman says
UBS believes that bitcoin is a speculative investment and is not advising its clients to invest in the digital currency, the bank’s chairman told CNBC Tuesday. Speaking at the World Economic Forum in Davos, UBS Chairman Axel Weber said the bank makes a clear distinction between institutional and retail clients when it comes to investing […]
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Global CEOs are warning against complacency as the world economy picks up
Global confidence among business leaders appears to be high given positive global growth prospects, but a number of chief executives of some of the world’s largest companies told CNBC that there was no room for complacency. PwC released a global CEO survey for 2018 this week that revealed record optimism among chief executives in terms […]
Read moreFree trade versus protectionism is a dominant theme at the 2018 World Economic Forum in Davos, according to the president and CEO of Suntory. The Japanese executive, Takeshi Niinami, argued that free trade agreements between countries, and market penetration are more important than ever in order to “reject the nation first concept.” Business leaders need […]
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Amazon is threatening Google's ad space monopoly, CEO of the world's largest ad firm says
Amazon is threatening Google and Facebook‘s dominance of the digital ad space, Martin Sorrell told CNBC at the World Economic Forum in Davos on Tuesday. The CEO of WPP, the world’s largest ad company, explained why he saw a growth trajectory ahead for the American e-commerce giant’s ad business. “Amazon threatens Google in two ways. […]
Read moreEuropean markets look set for a higher open Tuesday morning. Of the major bourses, the German DAX is expected to gain the most, up 55 points at 13,517.7. The U.K.’s FTSE is seen 18 points higher at 7,733.1, while the French CAC is expected to open 17 points to the upside at 5,558.8. Those openings […]
Read moreBillionaire business magnate Jack Ma is calling on other entrepreneurs to support his plans to lift millions of poor Chinese children out of poverty and give them better access to education. The founder and executive chairman of e-commerce behemoth Alibaba said that investing in rural boarding schools could provide a solution for China’s “left-behind children” […]
Read moreChina needs to push ahead with urbanization to close in on the yawning divide between the rich and the poor, an award-winning science fiction writer of a dystopian Beijing told CNBC. The biggest factor in decreasing inequality in China so far has been the country’s rapid urbanization, said Hao Jingfang, the writer of “Folding Beijing.” […]
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