The Deutsche Bank AG headquarters in the financial district of Frankfurt, Germany, on Thursday, Feb. 1, 2024. Bloomberg | Bloomberg | Getty Images Deutsche Bank on Thursday reported 1.275 billion euros ($1.365 billion) in net profit attributable to shareholders in the first quarter, marking a 10% annual increase. Analysts had forecast a result of 1.23 … Read more
It is the most powerful gathering of the global elite you have never heard of: a 36-hour confab in Miami for billionaires, CEOs and celebrities with a stated agenda of “catalyzing positive impact” that has become the single most important event for tapping into Saudi Arabia’s vast wealth. The Future Investment Initiative conference (FII) is an attempt … Read more
Deutsche Bank on Thursday smashed fourth-quarter earnings expectations, reporting net profit of 1.3 billion euros ($1.4 billion) and announcing a further 1.6 billion euros in shareholder returns for 2024. The quarterly net profit figure marked an almost 30% fall from the same quarter a year ago but was significantly higher than the 785.61 million euros … Read more
Countries and companies rent out storefronts on the Promenade in Davos, Switzerland during the World Economic Forum CNBC DAVOS, Switzerland — For as long as countries and companies have rented out chalets and storefronts on the Promenade of the small Swiss ski village that hosts the World Economic Forum, ancillary programming hosted beyond the reaches … Read more
The move immediately raised fears of the sorts of industrial clampdowns the market has seen in other sectors, triggering a global sell-off in China’s tech stocks and wiping out billions of dollars of value. The regulator then sacked Feng Shixin, a long-serving official and publication bureau chief at the NPPA, sources told the South China … Read more
Steam rises from the Niederaussem coal-fired power plant operated by German utility RWE, which stands near open-pit coal mines that feed it with coal, on November 13, 2017 near Bergheim, Germany. Lukas Schulze | Getty Images News | Getty Images In order to drive the progress and development of innovative solutions that tackle climate change … Read more
Sam Altman, CEO of OpenAI, during a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. Bloomberg | Bloomberg | Getty Images Executives at some of the world’s leading artificial intelligence labs are expecting a form of AI on a par with — or even exceeding — human intelligence to … Read more
Austrian Marlene Engelhorn, who inherited from her family who owns the Germany’s chemical giant BASF, poses with a placard reading “Tax the rich!” at the entrance of the Congress center on the opening of the annual meeting of the World Economic Forum (WEF) in Davos, on January 15, 2024. (Photo by Fabrice COFFRINI / AFP) … Read more
The focus of the 2024 World Economic Forum at Davos was on rebuilding trust, with artificial intelligence top of the agenda. Since the roll out of AI-powered chat bots, AI has developed a major trust problem among the public. The majority of Americans said last year that the risks of AI outweigh the potential benefits, … Read more
DAVOS, Switzerland — Bitcoin does nothing, JPMorgan Chase CEO Jamie Dimon said Wednesday on the sidelines of the World Economic Forum. “I call it the pet rock,” he added. Dimon is a long-time bitcoin critic. The bank chief said in 2021 at peak crypto valuations that bitcoin was “worthless,” and he doubled down on that sentiment last … Read more
