Brexit is leaving the European Union with a big problem on its hands and a “very tough” negotiation ahead, European Commission Vice-President Jyrki Katainen told CNBC on Friday. The U.K. has been one of the main contributors to the European budget, but once it has left the bloc there will be a gap in the […]
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Trump is changing the mood on tax in Europe, says Ireland’s finance chief
Leaders of major economies like President Donald Trump are making the case for lower corporate taxes and Europe should pay attention, Irish Finance Minister Paschal Donohoe told CNBC at the World Economic Forum on Friday. Asked if he believed Trump was setting an example on tax policy, Donohoe was positive. “Do I believe the mood […]
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Ikea sees 'massive opportunities' with artificial intelligence and virtual reality
Sweden’s flatpack furniture giant is exploring how to make the best use of artificial intelligence (AI) and virtual reality. Speaking at the World Economic Forum (WEF) in Davos on Thursday, Jesper Brodin, CEO of Ikea, told CNBC: “(What) we haven’t been able to do before is to find easier ways to connect with people so […]
Read morePresident Xi Jinping wasn’t present at this year’s World Economic Forum meeting in Davos, Switzerland, but the impact of his speech championing globalization at last year’s gathering lingered. Xi’s right hand man, Liu He, took to the stage in the snow-capped Swiss town to reiterate claims about China’s commitment to opening up further. Chinese business […]
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I'm 'most impressed' with Trump's openness to massive Pacific trade deal, bank chairman says
President Donald Trump‘s willingness to reconsider the massive Trans-Pacific Partnership (TPP) trade deal is an encouraging development for Rabobank. Speaking at the World Economic Forum (WEF) in Davos on Friday, Wiebe Draijer, chairman of the executive board at the Dutch lender, told CNBC: “I was most impressed by the clear signal that Trump also gave […]
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Trump offers an apology for retweeting anti-Muslim videos from British far-right group
President Donald Trump says he would publicly apologize for retweeting three graphic anti-Islamic videos posted by the deputy leader of one of the U.K.’s most far-right groups. The retweets, from back in November, did not include Trump commentary but drew widespread condemnation, including from the British prime minister’s office. The original tweets were posted by […]
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European markets set for rally at open, Trump to address business leaders at Davos
European markets look likely to rise sharply as they begin trading on Friday. The Italian MIB’s ascent is expected to be the steepest, with the index seen up 105 points at 23,773. Meanwhile the German DAX is also set for a rally, seen up 65 points at 13,344. The U.K. FTSE and French CAC are […]
Read morePresident Donald Trump made major news last week when he accused Russia of helping North Korea evade international sanctions. Reports that Russian tankers helped deliver fuel to the pariah state underscore that contention, but that occurrence alone doesn’t explain why the Kremlin would actively undermine the international community. The reason, experts told CNBC, could be […]
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It's profit over politics at China's state-run rail giant, chairman says
Making money — not following political directives — is the top priority for Chinese state-owned train giant CRRC, its chairman claimed this week. “As an enterprise, CRRC seeks profits. So when we look at the orders, we first assess our interest, the other things come later,” Liu Hualong, the company’s chair, said in Mandarin. Considerations […]
Read morePC-maker Dell Technologies is considering strategic options including a public share offering or a deal with its majority owned New York-listed unit, VMware, according to media reports on Thursday. Dell’s board is meeting later this month and will discuss its options, Bloomberg reported, citing people familiar with the matter, adding that the company may also […]
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