Many in Europe are looking to “punish” the U.K. for voting to leave the European Union, the finance minister of Luxembourg told CNBC on Wednesday. Speaking at the World Economic Forum (WEF) in Davos, Switzerland, Pierre Gramegna said that those with such an agenda would never admit to it. “There are many people out there […]

A correction in the stock market is not a question of “if” but “when,” according to Allianz CEO Oliver Bate. Speaking to CNBC at the World Economic Forum in Davos, Switzerland, the bank chief acknowledged the ever-improving health of the global economy but warned of major danger spots ahead. “Underlying economic growth has been much […]

U.S. Commerce Secretary Wilbur Ross appeared to suggest Wednesday that the United States was ready to enter into trade wars. Speaking at a press conference at the World Economic Forum (WEF) in Davos, Switzerland, Ross said: “There have always been trade wars. The difference now is U.S. troops are now coming to the ramparts.” Asked […]

China’s famous One Child Policy could mean that the economic powerhouse’s growth potential has a sell-by-date, according to James Liang, co-founder and chairman of Chinese online travel platform CTrip. Speaking to CNBC at the World Economic Forum (WEF) in Davos, Switzerland, Liang attributed Beijing’s economic success over the past decade to its “huge young cohort […]

The chief executive of Nokia said he believes technology can spot cancer “several months” before it occurs. Speaking at a panel at the World Economic Forum in Switzerland, Rajeev Suri outlined his vision for the future of medical treatment which included remote surgeries, 5G ambulances, and miniaturized wearable scanners. “With these sort of products, you […]

Excess global debt is a major concern for J.P. Morgan‘s international chairman. Speaking at the World Economic Forum in Davos, Jacob Frenkel said: “My main concern is problems arise, always, when you are overly optimistic (and) when you take too much debt.” “This was the main lessons from all the previous crises,” he added. The […]

Australia believes that the United States will end up joining the Trans-Pacific Partnership (TPP), its finance minister told CNBC on Wednesday. Mathias Cormann said this will happen when the U.S. recognizes the importance of the Asia-Pacific region for business. “We hope that over time the United States will want to be part of this. We’d […]

Treasury Secretary Steven Mnuchin said the U.S. is open for business and welcomed a weaker dollar, saying that it would benefit the country. Speaking at a press conference at the World Economic Forum in Davos Wednesday, he made a bid for investment into the U.S., saying the government was committed to growth of 3 percent […]

The euro area is no longer the economic headache that it once was, but the reversal of the European Central Bank‘s monetary policy needs to be sustainable, the president of the Eurogroup told CNBC Wednesday. Given the clear economic improvement in the euro zone since the debt crisis, some economists and policymakers have blamed the […]

Italy’s caretaker Prime Minister Paolo Gentiloni ruled out forming a coalition with Silvio Berlusconi’s center-right bloc after the forthcoming Italian election. Asked whether his center-left Democratic Party (PD) could support a government coalition formed with the center-right bloc made up of Forza Italia, the party of former Prime Minister Berlusconi, and Lega Nord (a Euroskeptic […]