World leaders and media organizations should stop focusing on economic growth and the rise of the super-rich and start understanding the challenges of the average worker, John Studzinski, vice chairman of Blackstone Group, told CNBC Tuesday. Speaking on the sidelines of the World Economic Forum (WEF) in Davos, Studzinski said […]
CNBC News
There are two types of bitcoin investor … and we need to protect one of them, UBS chairman says
UBS believes that bitcoin is a speculative investment and is not advising its clients to invest in the digital currency, the bank’s chairman told CNBC Tuesday. Speaking at the World Economic Forum in Davos, UBS Chairman Axel Weber said the bank makes a clear distinction between institutional and retail clients […]
Global CEOs are warning against complacency as the world economy picks up
Global confidence among business leaders appears to be high given positive global growth prospects, but a number of chief executives of some of the world’s largest companies told CNBC that there was no room for complacency. PwC released a global CEO survey for 2018 this week that revealed record optimism […]
Asian shares soar on firm US lead following end of US government shutdown
Major Asian indexes rose on Tuesday following the stronger lead from Wall Street after U.S. lawmakers reached a deal to end a government shutdown. Investors also digested the Bank of Japan’s decision to keep monetary policy steady. Japan’s Nikkei 225 rose 1.23 percent after closing barely in positive territory in […]
Research firm gives its prediction for when the next US recession will happen
The U.S. economy is on track for its next recession, according to a prominent research firm, but it’s not likely to be that severe. “We expect the economy to slip into a technical recession in early 2020,” Andrew Staples, director of the Economist Intelligence Unit for Southeast Asia, told CNBC’s […]
Mnuchin vs. Fink — two heavy-hitters of finance are about to battle it out
The World Economic Forum in the snowy mountains of Davos will this year bring together two of the most eminent economic minds in the United States. Steve Mnuchin, the current U.S. finance minister, will take the stage Thursday in a CNBC-moderated panel entitled “The Remaking of Global Finance.” Larry Fink, […]
FBI director reportedly threatened to resign over Trump, Sessions pressure to fire deputy director
FBI Director Christopher Wray, who took over the job just under six months ago, threatened to resign if deputy FBI director Andrew McCabe – a frequent target of President Donald Trump‘s – were forced out, Axios reported late Monday, citing sources. The outlet said that Attorney General Jeff Sessions had […]
Singer Neil Diamond announces retirement following Parkinson’s diagnosis
World-renowned singer, songwriter and performer Neil Diamond has announced his retirement from touring after being diagnosed with Parkinson’s disease. Acting on medical advice, Diamond cancelled the upcoming Australia and New Zealand legs of his 50th Anniversary tour, which were set to commence in March. Parkinson’s disease is a long-term degenerative […]
The Bank of Japan holds monetary policy steady
The Bank of Japan announced Tuesday it was keeping its monetary policy steady, a move that was in line with market expectations. In a statement released following the conclusion of its two-day meeting, the BOJ said it would keep the short-term policy rate unchanged at negative 0.1 percent and the […]
Puerto Rico will try and privatize its bankrupt power utility
The governor of Puerto Rico announced Monday his intentions to privatize the island’s beleaguered power utility. The announcement comes just two days before the bankrupt Puerto Rico Electric Power Authority, or “PREPA,” is due to submit a revised fiscal plan following the destruction of Hurricane Maria. The nearly category 5 […]