The leadership culture of Silicon Valley tech gurus has been slammed at the World Economic Forum in Switzerland. Speaking at a CNBC-moderated Davos panel titled “In Technology We Trust?,” Marc Benioff claimed that tech leaders need to modify their autocratic style. “We basically got to a point where the whole […]
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Markets could suddenly turn and they don’t even need a trigger, Nobel-winning economist Shiller says
Stock markets might be continuing their run higher this year but Nobel Prize-winning economist Robert Shiller told CNBC Tuesday that a market correction could come at any time and without warning. “People ask ‘well what will trigger it (a market correction)?’ But it doesn’t need a trigger, it’s the dynamics […]
Uber CEO Dara Khosrowshahi talks tech at Davos
[The stream is slated to start at 9 a.m. GMT. Please refresh the page if you do not see a player above at that time.] The rise and rise of technology has meant that a host of new issues including automation, privacy and misinformation are now at the fore of […]
Oil CEO warns of a shock upwards in prices over the coming months, predicts $80 oil
Oil prices could soon soar toward $80 a barrel amid escalating concerns over falling output from one of Latin America’s biggest producers, Crescent Petroleum’s chief executive told CNBC Tuesday. Speaking at the World Economic Forum (WEF) in Davos, Majid Jafar, CEO of the United Arab Emirates–based oil and natural gas […]
Stop focusing on the 1% and start caring about the average worker, Blackstone’s Studzinski says
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 […]
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, […]