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 […]
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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 […]
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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 moreHedge fund kingpin Ray Dalio ripped Treasury Secretary Steven Mnuchin‘s advocacy of a weak dollar, saying the position threatens the economic recovery. In a brief LinkedIn post Thursday, the Bridgewater Associates head said a soft currency is exactly what the U.S. doesn’t need right now. Dalio described a weak dollar as “a hidden tax on […]
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TRAVELLERS have grown accustomed to annoying hidden fees, from the baggage charges that bring airlines tens of billions of dollars a year to the resort fees that account for nearly a fifth of American hotels’ revenue. But a new one that has popped up in recent years might be the most irksome of all due […]
Read moreFinding an affordable place to live isn’t always easy, but some cities make it easier to get by than others. Personal-finance advice website Student Loan Hero conducted a study of 253 urban areas across the United States and identified the most affordable ones. “We looked at median incomes, housing costs, unemployment rates and poverty levels,” […]
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Ordinary Americans won't benefit from US tax changes, says union boss
The leader of a conglomerate of unions representing 20 million workers said Thursday that the ordinary American won’t benefit from changes to the U.S. tax system. Philip Jennings, general secretary at the UNI Global Union, told CNBC at the World Economic Forum (WEF) in Davos, Switzerland, that the tax cuts would not make any difference […]
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ALTHOUGH New Yorkers are not renowned for their patience, they do not seem to mind waiting their turn for a fresh serving of avocado. At Avocaderia, which claims to be the world’s first avocado bar, in Brooklyn, long queues stretch from the counter outward into a large food hall. The venue’s popularity is a sign […]
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