British Prime Minister Theresa May has called on technology investors to help social networks stop providing a platform for terrorism, extremism and child abuse. Speaking at the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, May said tech companies such as Twitter and Facebook needed to take their responsibilities to society more seriously. “No […]
Read moreBitcoin trading is “gambling,” Canada’s central bank governor told CNBC on Thursday, adding that he was looking into developing regulations around cryptocurrencies. Stephen Poloz, who heads up the Bank of Canada, said buyers of digital coins should “beware” and that he would not call cryptocurrencies assets. “They are crypto but they are not currencies,” Poloz […]
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This bathroom at Davos neatly sums up the World Economic Forum's values
The World Economic Forum is in full-swing and edging ever closer to the highlight of this year’s event — the keynote address by President Donald Trump on Friday afternoon. Whether Trump signs up to the Forum’s main theme “Creating a shared future in a fractured world” remains to be seen, and many world leaders at […]
Read moreAmazon’s cloud computing business is just getting started, according to one Wall Street firm. D. A. Davidson increased its price target for Amazon shares to $1,800 from $1,500, representing 33 percent upside to Wednesday’s close. It is also the highest target out of the 42 analysts who cover Amazon, according to FactSet. “We see two […]
Read moreWhether you’ve used bitcoin as an investment or as a currency, you owe taxes on it. As far as Uncle Sam is concerned, bitcoin is not currency. It’s property. That means whenever you buy something with bitcoin, it’s two transactions, not one. What you’re actually doing is selling a property (bitcoin) for a cash value […]
Read moreCryptocurrencies need more regulation and their use for illicit trade, money-laundering and “dark trades” is unacceptable, global financial leaders including U.S. Treasury Secretary Steven Mnuchin told CNBC on Thursday. Speaking at a panel at the World Economic Forum (WEF) in Davos, Switzerland, Mnuchin and the IMF’s Managing Director Christine Lagarde, along with Deutsche Bank Chairman […]
Read moreSTMicroelectronics capped the chipmaker’s best year since 2010 with broad-based revenue growth and rising margins and said auto and industrial demand would offset a seasonal smartphone dip in the first quarter of this year. Fourth-quarter net revenue rose nearly 33 percent to $2.47 billion (2 billion euros). That topped the $2.35 billion to $2.36 billion […]
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US wants more trade but 'fair' and 'reciprocal' trade, Mnuchin tells Davos
Treasury Secretary Steven Mnuchin said Thursday that he wants to increase the level of U.S. trade, but where it is deemed to be unfair, measures will be taken. Speaking during a CNBC panel session at the World Economic Forum in Davos, Mnuchin said the U.S. as a nation wanted “more trade, not less trade” but […]
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Governors, cities and businesses will ensure US exceeds Paris Agreement commitments: Al Gore
The U.S. is still on schedule to meet its obligations on the Paris Climate Agreement despite its decision to pull out of the accord, according to former Vice President Al Gore. “Several governors of our largest states, hundreds of cities and thousands of U.S. businesses are now ensuring that the U.S. will not only meet […]
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Mnuchin says 'dollar is not a concern of mine,' supports free trading in currency markets
Treasury Secretary Steven Mnuchin said Thursday that he spends little time thinking about dollar weakness over the short term, on the back of his previous comments which sent the U.S. currency reeling amid fears of a trade war. Speaking during a CNBC moderated panel at the World Economic Forum in Davos, Mnuchin said dollar weakness […]
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