Commerce Secretary Wilbur Ross took issue Wednesday with media characterizations that the U.S. is departing from its historically strong dollar policy. Treasury Secretary Steve Mnuchin‘s remarks at a news conference at the World Economic Forum in Davos, Switzerland should not be interpreted as a call for a weaker U.S. currency, Ross told CNBC. Earlier Wednesday, […]
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Actress Cate Blanchett calls on world to show more compassion to refugees
Actress and campaigner Cate Blanchett called on the world to adopt a more compassionate approach to refugees on Tuesday. The UNHCR goodwill ambassador told an audience at the World Economic Forum (WEF) in Davos, Switzerland, that not only do refugees need support in the form of nutrition, healthcare and shelter, they also need to be […]
Read moreMexico’s Finance Minister Jose Antonio Anaya appeared confident in the future of the North American Free Trade Agreement (NAFTA), telling CNBC Wednesday that dialogue between the trade partners was ongoing. “Our central scenario is that this will go to a good deal,” Anaya said while at the World Economic Forum at Davos. “We believe trade […]
Read moreJ.P. Morgan chief Jamie Dimontold CNBC on Wednesday that the tax cut will drive wages higher and spark an economic boom. “I think it’s possible you’re going to hit 4 percent some time this year,” Dimon said in an interview at the World Economic Forum in Davos, Switzerland. “I promise you, we are going to […]
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Every leader in the world should promote the MeToo movement, says Bollywood star Shah Rukh Khan
Bollywood star Shah Rukh Khan has urged world leaders to support the MeToo movement at the World Economic Forum (WEF) in Davos, Switzerland. “This uprising that is happening in America, which is spreading all over the world, with the hashtag MeToo, is actually a sign of (the) times, it is what is the truth, what […]
Read moreIn what appears to be a thinly-veiled attack on the U.S. administration, the founder and executive chairman of the e-commerce behemoth Alibaba said trade should not be used as a weapon. “Don’t use trade as the weapon, use trade as the solution to solve the problems,” Jack Ma said at a panel on the future […]
Read moreSpring has sprung early in this housing market. Buyers, seeing a new trend toward higher interest rates, are rushing in before the first buds appear. Mortgage applications rose 4.5 percent last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted report. Application volume was 6.1 percent higher than the same week […]
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World leaders rally against 'protectionism' before Trump gets to Davos
World leaders speaking at the World Economic Forum in Davos have made it clear that they disagree with the anti-free trade rhetoric coming out of the United States. Without always naming the United States, the heads of state of Brazil, India, Canada and Italy all said they disagree with what they believe is an anti-free […]
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THERE may have been a “Trump bump” in the stockmarket but the opposite has been true in currency markets. The dollar has steadily weakened and the administration does not seem too concerned about it. Steven Mnuchin, the Treasury secretary, said this week that Obviously a weaker dollar is good for us as it relates to […]
Read moreEuropean Union (EU) antitrust regulators slapped a 997 million euro ($1.23 billion) fine on U.S. chipmaker Qualcomm on Wednesday for paying Apple so that the iPhone maker only used its chips. The European Commission, which launched an investigation into the matter in 2015, said the exclusivity payments began in 2011. “Qualcomm illegally shut out rivals […]
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