Showing posts with the label Davos

Davos: Trump Acclaims His Own Economic Achievements:

By Iain Rogers and Chris Reiter 16-20 minutes - Source: Bloomberg The world’s rich and powerful are in Davos, Switzerland, for the World Economic Forum’s 50th annual meeting, and the gathering will be closely watched to see how the global elite aims to tackle issues they helped create, above all climate change. President Donald Trump’s appearance, which comes on the same day his impeachment trial starts in Washington, began with him calling the trial a “hoax” and “disgraceful.” In his speech, he lauded his economic achievements and said the U.S. is “thriving” and “winning again like never before.” Donald Trump delivers a speech on the opening day of the World Economic Forum in Davos, on Jan. 21. Photographer: Jason Alden/Bloomberg Meanwhile, Swedish activist Greta Thunberg, who was in the audience for Trump’s speech, stepped up her criticism of governments and companies for not doing enough to tackle climate chan

The world's 2,153 billionaires have more wealth than 4.6 billion people combined, Oxfam says

Chloe Taylor 3minutes - Source: CNBC Thomas Trutschel | Photothek | Getty Images The world’s 2,153 billionaires have more wealth between them than a combined 4.6 billion people, new research has claimed. In a study published Monday, international charity Oxfam called on governments to implement policies that may help to reduce wealth inequality. The report comes as delegates gather in Davos, Switzerland, for the annual World Economic Forum conference. “If everyone were to sit on their wealth piled up in $100 bills, most of humanity would be sitting on the floor,” its authors said. “A middle-class person in a rich country would be sitting at the height of a chair. The world’s two richest men would be sitting in outer space.” Amazon founder Jeff Bezos is currently the richest person in the world, according to Forbes , with a net worth of around $116.4 billion. The second wealthiest person on the planet is Bernard Arnault , a French bil

Davos | Stock futures fall on global growth concerns; jobs data awaited

Medha Singh 3-4 minutes (Reuters) - U.S. stock futures slipped on Friday on global growth worries after Chinese data showed exports tumbled the most in three years, while investors turned their focus to domestic monthly employment report. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 7, 2019. REUTERS/Brendan McDermid China’s exports in February fell 20.7 percent from a year earlier compared to a 4.8 percent drop expected by economists polled by Reuters, pointing to a further slowdown in the economy and stirring talk of a “trade recession”. The bleak China trade data overnight added to worries of a slowing global economy, after European Central Bank’s cut growth forecasts and unveiled a new round of stimulus, which led the U.S. stocks to record their fourth day of declines. Adding to investor nerves was a comment from U.S. ambassador to China that the two sides have yet to set a date for

Davos | Global funds reached for a bigger cash buffer in February

Rahul Karunakar 5-6 minutes BENGALURU (Reuters) - Global funds recommended a bigger safety buffer in February, with cash holdings raised to their highest in more than three years and equity allocations cut to the lowest in nearly two, a Reuters poll showed on Thursday. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 9, 2016. REUTERS/Brendan McDermid/File Photo Many top equity indexes posted their best start to a year in decades, but a slowdown is underway in several major economies and the still-unresolved trade war between the U.S. and China has kept investors cautious. A monthly Reuters poll of 43 fund managers around the globe, taken Feb 14-27, showed cash holdings - a key gauge of investor caution - were increased to their highest since June 2015, to 7.2 percent from 6.2 percent last month. Asset managers reduced recommendations to equity exposure to 45.9 percent of the model global portfolio