Companies are likely to focus on bolstering their capital in the wake of massive U.S. tax cuts, although making accurate predictions on their effects is impossible, according to Carlyle Group co-founder David Rubenstein, who spoke during a panel at the World Economic Forum in Davos. “We really don’t know what the impacts are going to […]
Read moreJerome Powell will take the helm as the 16th chairman of the Federal Reserve, after the Senate confirmed him for the position Tuesday. The final vote was 85 to 12 in favor of confirmation. Powell — known more casually as “Jay” — assumes the top Fed position following his nomination by President Donald Trump in […]
Read moreThe U.S. will suffer the most if it follows the Donald Trump administration’s plan to adopt an “America First” policy, the president of Colombia said Tuesday. Speaking to CNBC at the World Economic Forum (WEF) in Davos, Switzerland, Juan Manuel Santos said he was a strong believer in free trade. “Protectionism is something that will […]
Read moreBrazil expects to see upwards of 3 percent gross domestic product (GDP) growth in 2018, Brazilian Finance Minister Henrique Meirelles told CNBC Tuesday, a figure that flies in the face of the International Monetary Fund’s (IMF) forecast of 1.5 percent. Speaking at the World Economic Forum in Davos, the head policymaker for Latin America’s largest […]
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The demographic shifts taking place in the U.S. workforce make economic growth of 3 percent on a sustained basis highly unlikely, said David Rubenstein, co-founder and co-chairman of The Carlyle Group. In a CNBC interview Tuesday from the World Economic Forum in Davos, Switzerland, the private equity billionaire said, “I think we’d be lucky and […]
Read moreCurrency, United States Finance
PR industry should ‘tell both sides of the story’ after Bell Pottinger scandal, says Edelman
PR chief Richard Edelman has called on the industry to be more balanced in the stories it promotes to the media following a scandal that saw agency Bell Pottinger’s British business file for bankruptcy. Bell Pottinger ran a PR campaign for Oakbay Investments that was labeled racially divisive by a law firm hired to investigate […]
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There's an acceptance that the OPEC deal should extend beyond 2018, Saudi energy minister says
This is a breaking news story, please check back later for more. On Sunday, Saudi Arabia’s energy minister urged global oil producers to extend their cooperation beyond 2018. Speaking to reporters ahead of an OPEC joint ministerial committee, Khalid al-Falih also raised the prospect of a new form of agreement rather than continuing with the […]
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We are in a 'very fortunate' period for jobs, Credit Suisse CEO says
The world is currently in an “upswing” in employment creation following a period during which jobs were lost to the advance of technology, the CEO of Credit Suisse said Tuesday. Speaking to CNBC at the World Economic Forum in Davos, Switzerland, Tidjane Thiam said there remain risks to the current economic environment, including geopolitical concerns. […]
Read moreNine years into the U.S. bull market in stocks, we are still optimistic for the year ahead. But there are some risks investors need to be mindful of as we start the new year. Fortunately, we do not believe recession is one of them, and so we remain bullish. Pending recessions typically end bull markets. […]
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NAFTA is 'something to be improved upon,' says Canada's finance minister
The North American Free Trade Agreement is “something to be improved upon,” Canada’s finance minister told CNBC Tuesday as the sixth round of NAFTA talks get underway in Montreal. “Our goal is to make real progress. We’ve got some constructive ideas. And we’re really focused on how we can improve NAFTA,” Finance Minister Bill Morneau […]
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