U.S. economy has already seen 75% of the impact from Fed’s hikes, IMF says
Europe has more follow-through from higher interest rates still to come, the IMF’s deputy managing director said at Davos.
Amazon, Microsoft, Meta and others accused by rivals of not respecting new EU competition rules
A new open letter alleges Big Tech “gatekeepers” like Google, Microsoft, and Apple haven’t done enough to comply with the EU’s strict Digital Markets Act.
Goldman Sachs tops revenue estimates on better-than-expected asset management results
Hope is building that Goldman Sachs can turn a corner after pivoting away from CEO David Solomon’s failed consumer banking efforts.
Burger King owner Restaurant Brands buys chain’s largest U.S. franchisee
Restaurant Brands International will spend about $1 billion to buy Carrols Restaurant Group, the largest U.S. franchisee of Burger King.
Fed should be a ‘little concerned’ about starting rate cuts too early, Nasdaq CEO says
Nasdaq CEO Adena Friedman said that the Fed should be wary about starting to cut interest rates too early.
Russia now ‘dependent’ on China, EU chief says
An increasingly isolated Russia is now dependent on China for both its military and economic ends, the European Commission’s president said Tuesday.
Trump is a ‘transactional president’ but may not rock the boat on China, Standard Chartered CEO says
Trump would be “transactional” if he returns to power but is unlikely to blow up Biden’s rebuilding of relations with China, says StanChart’s Bill Winters.
China’s premier tells Davos that innovation shouldn’t be used to restrict other nations
Chinese Premier Li Qiang was speaking Tuesday at the World Economic Forum in Davos, Switzerland.
Ripple CEO calls U.S. SEC Chair Gary Gensler a ‘political liability’
Ripple CEO Brad Garlinghouse called U.S. Securities and Exchange Commission Chair Gary Gensler a “political liability.”
Private company valuations ‘going nuts again’ amid AI boom, Cisco CEO says
The valuations of some private companies are “going nuts again,” returning to highs not seen since the pandemic, according to Cisco’s chief executive.
