A KFC restaurant in Wuhan, China. Source: Yum China While economists and investors fret over China’s low consumer confidence and sluggish growth, Yum China CEO Joey Wat says the Chinese consumer is growing more rational — and has been for years. Weighed down by investors’ concern about the broader […]
CNBC News
Elon Musk sues OpenAI and CEO Sam Altman over contract breach
Sam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, on Jan. 18, 2024. Denis Balibouse | Reuters Elon Musk is suing OpenAI and its CEO Sam Altman, among others, alleging they abandoned the company’s founding mission to develop artificial intelligence “for […]
Daimler Truck surges 13% to new record on bumper earnings, buyback announcement
Supply chain disruptions are causing a production backlog at the world’s largest truckmaker, Daimler Trucks. Bloomberg | Getty Images Shares of Daimler Truck hit a fresh all-time high Friday, spiking more than 13.5% in early deals, after posting record full-year profit and announcing a 2 billion euro ($2.16 billion) share […]
‘Stupidity’ poses a bigger threat than AI, CEO of Italian defense giant Leonardo says
Roberto Cingolani, chief executive officer of Leonardo SpA, during an interview in London, UK, on Tuesday, Jan. 23, 2024. Bloomberg | Bloomberg | Getty Images The chief executive of Italian defense group Leonardo said Friday that he’s more concerned about the “stupidity” of users of artificial intelligence rather than the threats posed […]
India ‘easily’ the fastest growing economy, IMF executive director says, as GDP growth blows past estimates
IMF Executive Director and former Chief Economic Advisor of India, Dr Krishnamurthy V. Subramanian addresses a press conference. Hindustan Times | Hindustan Times | Getty Images India is ‘easily’ the fastest growing economy in the world, IMF executive director Krishnamurthy Subramanian said, as the country’s third-quarter GDP growth blew past […]
Ukraine’s losses on the battlefield could make the war more dangerous for Russia
A Ukrainian serviceman belonging to infantry battalion of 42 Brigade is seen during a maintenance training, as Russia-Ukraine war continues at an undisclosed location in Donbas, Donetsk Oblast, Ukraine on February 27, 2024. Anadolu | Anadolu | Getty Images Early on in the war with Russia, Ukraine’s successes on the […]
Europe is having its worst earnings season since the onset of Covid — with little hope of a quick turnaround
Arc of Triomphe Paris, Champs-Elysees France at night vichie81 / iStock / Getty Images Plus LONDON — Around a half of European companies missed earnings expectations in the latest reporting season despite already low expectations, analysts told CNBC, who predicted that the region will continue to struggle amid high interest […]
Britain to lead 2024 European real estate boom as international buyers eye opportunities, research says
Aerial view of the roof gardens at Gasholder Park in Kings Cross, London. Richard Newstead | Moment | Getty Images The U.K. looks poised to lead a European real estate resurgence this year as international investors return capital to the region’s strained property market. An anticipated fall in interest rates […]
India approves three chip plants with over $15 billion in investments to realize semiconductor ambitions
Researchers inside the semiconductor fabrication lab at the Centre for Nano Science and Engineering, at the Indian Institute of Science, in Bangalore on June 30, 2018. Manjunath Kiran | Afp | Getty Images India has approved building three semiconductor plants with investments of more than $15 billion as the country […]
Facebook is getting rid of the News tab in the U.S. and Australia
Meta’s Mark Zuckerberg plans to visit South Korea, scheduling key meetings during the trip, according to a statement by Meta on Wednesday, which did not provide further details. Reportedly, Zuckerberg is anticipated to meet with Samsung Electronics chairman Jay Y. Lee later this month to discuss AI chip supply and […]