Global sustainability standards are needed to curb climate crisis, says environmental director

Janice Lao, director of group corporate responsibility and sustainability at Hong Kong and Shanghai Hotels, has called for a consolidation of sustainability standards. There are “too many” sustainability metrics out there and they are overwhelming the public and hindering progress, Lao told CNBC’s “Street Signs” on Monday. Sustainability standards have grown at a rapid rate in recent decades as environmental issues gain increasing prominence. Lao, a Forbes Sustainability Leader, said she is alre


Janice Lao, director of group corporate responsibility and sustainability at Hong Kong and Shanghai Hotels, has called for a consolidation of sustainability standards.
There are “too many” sustainability metrics out there and they are overwhelming the public and hindering progress, Lao told CNBC’s “Street Signs” on Monday.
Sustainability standards have grown at a rapid rate in recent decades as environmental issues gain increasing prominence.
Lao, a Forbes Sustainability Leader, said she is alre
Global sustainability standards are needed to curb climate crisis, says environmental director Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: karen gilchrist
Keywords: news, cnbc, companies, global, needed, director, lao, shanghai, kong, standards, curb, environmental, crisis, climate, hotels, sustainability, going, progress


Global sustainability standards are needed to curb climate crisis, says environmental director

Businesses need to be singing from the same hymn sheet if they want to make meaningful progress in combatting the climate crisis, said the environmental director of one of Asia’s leading hotel groups, Hong Kong and Shanghai Hotels.

Janice Lao, director of group corporate responsibility and sustainability at Hong Kong and Shanghai Hotels, has called for a consolidation of sustainability standards.

There are “too many” sustainability metrics out there and they are overwhelming the public and hindering progress, Lao told CNBC’s “Street Signs” on Monday. “If we don’t talk in one language, people are not going to understand what progress we’re trying to achieve (and) where we are in the journey.”

Sustainability standards have grown at a rapid rate in recent decades as environmental issues gain increasing prominence. As of 2019, there were over 400 measures, according to the State of Sustainability Initiatives.

Lao, a Forbes Sustainability Leader, said she is already in talks with several standards agencies to come up with coordinated sustainability metrics, but she said greater backing was needed.

“If we can consolidate the definitions, it’s much easier for us to tell our story … not only to the public but also to the business community, who are going to be making these types of investments,” she said.

Lao’s comments come as leaders gather at the World Economic Forum in Davos, Switzerland this week to discuss, among other things, striking a unified response to the intensifying climate crisis.

Hong Kong and Shanghai Hotels has been advocating environmental practices since 2013 via its “Sustainable Luxury Vision 2020,” which covers areas such as sustainable food sourcing and construction.

Lao noted that the luxury hotel chain, which has operations in Asia, the U.S. and Europe, has succeeded in receiving investor buy-in because it was able to present the plan as part of its long-term strategy.

The director said that approach may be less attainable for low to mid-range hotels, with smaller margins. However, she added that businesses should regard the shift to sustainability as an inevitability, particularly as more countries move to curb unsustainable practices.

“This is what the future is going to be like, this is the norm,” said Lao. “We know that in all the cities we’re going to be operating in, in all the countries we’re operating, we’re seeing more and more environmental, climate change and plastics regulation. That’s something that we’re preparing for.”


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: karen gilchrist
Keywords: news, cnbc, companies, global, needed, director, lao, shanghai, kong, standards, curb, environmental, crisis, climate, hotels, sustainability, going, progress


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Tenuous US-China trade deal comes as Beijing and Washington remain on a permanent collision course

Chinese President Xi Jinping (R) and US President Donald Trump at the Great Hall of the People in Beijing on November 9, 2017. By sharply accelerating in recent months its trade adjustment with the U.S., China has finally done what it should have initiated more than two years ago. Beijing is on the way to seriously dismantling Washington’s economic and political leverage over China’s economy. During 11 months of last year, China stepped up the rate of decline of its trade surplus with the U.S. t


Chinese President Xi Jinping (R) and US President Donald Trump at the Great Hall of the People in Beijing on November 9, 2017.
By sharply accelerating in recent months its trade adjustment with the U.S., China has finally done what it should have initiated more than two years ago.
Beijing is on the way to seriously dismantling Washington’s economic and political leverage over China’s economy.
During 11 months of last year, China stepped up the rate of decline of its trade surplus with the U.S. t
Tenuous US-China trade deal comes as Beijing and Washington remain on a permanent collision course Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: dr michael ivanovitch
Keywords: news, cnbc, companies, rate, western, trade, permanent, collision, chinese, uschina, beijing, strategic, washington, tenuous, surplus, course, china, american, deal, comes, remain, chinas


Tenuous US-China trade deal comes as Beijing and Washington remain on a permanent collision course

Chinese President Xi Jinping (R) and US President Donald Trump at the Great Hall of the People in Beijing on November 9, 2017.

By sharply accelerating in recent months its trade adjustment with the U.S., China has finally done what it should have initiated more than two years ago.

Beijing is on the way to seriously dismantling Washington’s economic and political leverage over China’s economy. During 11 months of last year, China stepped up the rate of decline of its trade surplus with the U.S. to 16.2%.

Feverish sinologists would call that “decoupling” — a misnomer for China’s belated exit from a position of an excessive and unsustainable trade surplus with the U.S.

Those sinologists don’t seem to notice that China is getting out of that self-imposed structural trap by aggressively slashing its U.S. purchases at an annual rate of 12% between January and November of last year.

Instead of worrying about “decoupling,” advocates of friendly U.S.-China ties should remind Beijing that it should be doing exactly the opposite — by drastically stepping up imports of American goods and services. If the Chinese did that, they would not have to abandon their U.S. markets by cutting exports at an annual rate of 15.2%, as they did for nearly all of last year.

So, the question is: Who is in a hurry to “decouple?”

Looking at trade flows and China’s declining holdings of U.S. debt, the Chinese have apparently concluded that a rapid narrowing of U.S. exposure was a matter of their national interest.

That conclusion has come after years of pleading for a “win-win cooperation,” while Washington kept trying to contain China’s growing global economic and political influence. Instead of cooperation, the U.S. defined its relationship with China as a strategic competition with a country seeking to destroy the Western (i.e., American) world order.

Cooperation made sense for China because it meant an open access to U.S. markets and technology transfers. The U.S., however, finally began to see things differently as it woke up from its evanescing dream that an increasingly prosperous China would shake off its communist rule and join the U.S.-led Western community.

What followed was a radical U.S. policy change Beijing apparently did not expect. China’s huge, and growing, American trade surpluses became an imminent strategic danger that had to be fought by tariffs, sanctions and strict limits to Chinese investments in the U.S. economy.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: dr michael ivanovitch
Keywords: news, cnbc, companies, rate, western, trade, permanent, collision, chinese, uschina, beijing, strategic, washington, tenuous, surplus, course, china, american, deal, comes, remain, chinas


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OPEC oil production cuts likely to continue for the ‘whole of 2020’: Wood Mackenzie

OPEC is likely to continue with its oil supply cuts for the rest of 2020, a research director said Monday. “We expect OPEC to continue cutting production for 2020,” he said. Gupta argued that the additional cuts indicate OPEC is aware of oversupply in the oil market for at least the first half of this year. He added that Wood Mackenzie expects oil supply to outpace demand for “the whole of 2020.” “It’s more pronounced in the first half 2020 than the second half … but we expect (OPEC) to rollov


OPEC is likely to continue with its oil supply cuts for the rest of 2020, a research director said Monday.
“We expect OPEC to continue cutting production for 2020,” he said.
Gupta argued that the additional cuts indicate OPEC is aware of oversupply in the oil market for at least the first half of this year.
He added that Wood Mackenzie expects oil supply to outpace demand for “the whole of 2020.”
“It’s more pronounced in the first half 2020 than the second half … but we expect (OPEC) to rollov
OPEC oil production cuts likely to continue for the ‘whole of 2020’: Wood Mackenzie Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: abigail ng
Keywords: news, cnbc, companies, 2020, supply, continue, likely, oversupply, production, mackenzie, cuts, half, opec, market, oil, wood


OPEC oil production cuts likely to continue for the 'whole of 2020': Wood Mackenzie

OPEC is likely to continue with its oil supply cuts for the rest of 2020, a research director said Monday.

“One thing which we are seeing in our numbers is that the market is still not ready to absorb the production cuts back, even for (the) whole of this year,” Sushant Gupta, who heads Wood Mackenzie’s refining and oils market team in Asia, told CNBC’s “Capital Connection.”

“We expect OPEC to continue cutting production for 2020,” he said.

OPEC and its allies agreed in December 2019 to cut supply by an additional 500,000 barrels per day until its next meeting in March 2020, bringing the total reduction to 1.7 million barrels a day.

However, the duration of the deal remains uncertain. The energy alliance usually gathers every six months, so the announcement of a meeting in March caused some analysts to believe that tighter policy would only last for the first quarter of 2020.

Gupta argued that the additional cuts indicate OPEC is aware of oversupply in the oil market for at least the first half of this year.

“They will have to manage that oversupply somehow, by either higher compliance or even deeper cuts for (a) longer time,” he said.

He added that Wood Mackenzie expects oil supply to outpace demand for “the whole of 2020.” Part of that supply will come from non-OPEC, non-U.S. producers such as Brazil, Canada and Norway, he said.

“It’s more pronounced in the first half 2020 than the second half … but we expect (OPEC) to rollover production cuts for the whole of 2020,” he said.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: abigail ng
Keywords: news, cnbc, companies, 2020, supply, continue, likely, oversupply, production, mackenzie, cuts, half, opec, market, oil, wood


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Selfies, emojis and rainbows of color: Recruitment experts give their verdict on creative resumes

CNBC spoke to recruitment experts about how far job applicants should go when it comes to designing a creative resume. “Jobseekers can apply some creative techniques, but always remember that relevance is what catches an employer’s gaze — not emojis,” she advised. “Creative industries or creative roles lend themselves more naturally to visual, dynamic and even interactive CVs,” she said. Cresswell added that hiring managers in corporations or more traditional industries, such as finance or law,


CNBC spoke to recruitment experts about how far job applicants should go when it comes to designing a creative resume.
“Jobseekers can apply some creative techniques, but always remember that relevance is what catches an employer’s gaze — not emojis,” she advised.
“Creative industries or creative roles lend themselves more naturally to visual, dynamic and even interactive CVs,” she said.
Cresswell added that hiring managers in corporations or more traditional industries, such as finance or law,
Selfies, emojis and rainbows of color: Recruitment experts give their verdict on creative resumes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: chloe taylor
Keywords: news, cnbc, companies, resumes, jobseekers, color, rainbows, hiring, visual, format, emojis, won, creative, verdict, recruitment, experts, job, managers, selfies, skills


Selfies, emojis and rainbows of color: Recruitment experts give their verdict on creative resumes

Photo by Joshua Barnatt

In today’s competitive job market — where hiring managers can spend as little as seven seconds looking at a resume — jobseekers may be tempted to add a little creative flair to their applications to help them stand out from the pack. According to the Wall Street Journal, this has led to a new phenomenon — resumes are beginning to resemble social media profiles, with emojis, headshots and even bitmojis making an appearance. CNBC spoke to recruitment experts about how far job applicants should go when it comes to designing a creative resume.

Keep it simple

Speaking to CNBC via email, Deepa Somasundari, director of client success at global job site Indeed, urged jobseekers to err on the side of caution. “Jobseekers can apply some creative techniques, but always remember that relevance is what catches an employer’s gaze — not emojis,” she advised. Instead of spending too much time and effort trying to create an innovative resume, Somasundari suggested making simple alterations to creatively enhance the information most likely to earn you an interview. “One way of highlighting specific skills, experiences and achievements is by bolding the text,” she said. “This will help draw the attention of employers to your abilities.”

Darain Faraz, careers expert at LinkedIn, agreed that being creative doesn’t have to equate to over-the-top artistic flair. “A ‘creative CV’ doesn’t necessarily have an outlandish format and a rainbow of color — it just means presenting the information you really want to get across so it stands out from the norm,” he told CNBC in an email. He explained that this could mean pulling out important figures — such as a number of awards won or a sum of money saved in a previous role — putting key career milestones into a timeline format, or listing skills alongside a visual aid to denote how well-versed you are in them.

Consider the role

According to Jo Cresswell, community expert at Glassdoor, appropriate limits of creativity are dependent on the industry you’re hoping to join. “Creative industries or creative roles lend themselves more naturally to visual, dynamic and even interactive CVs,” she said. “Rather than applicants listing on their CV that they are proficient in design software, for example, they can actively demonstrate that capability through the format of their application.” Cresswell added that hiring managers in corporations or more traditional industries, such as finance or law, were unlikely to be won over with colorful or visual resumes.

“Instead, hiring managers will want to see clear achievements through numbers and detail as well as evidence of technical skills and capabilities,” she told CNBC. “They won’t want images and colors to distract. Application tracking software must also be considered, as less traditional CVs may not lend themselves well to being uploaded and re-formatted.” Speaking to CNBC in a phone call, Kate Brookes, executive director of the Career Center at Vanderbilt University, agreed that the key is to bear the intended audience in mind. “Ask yourself: ‘Is what I’m doing relevant to my audience? Is this appropriate for the job I’m applying for?'” she suggested.

Emojis and selfies — there’s a time and a place


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: chloe taylor
Keywords: news, cnbc, companies, resumes, jobseekers, color, rainbows, hiring, visual, format, emojis, won, creative, verdict, recruitment, experts, job, managers, selfies, skills


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

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. 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 billionaire who owns luxu


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.
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 billionaire who owns luxu
The world’s 2,153 billionaires have more wealth than 4.6 billion people combined, Oxfam says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: chloe taylor
Keywords: news, cnbc, companies, worlds, world, report, net, worth, richest, wealth, billion, combined, oxfam, sitting, person, billionaires, 2153


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

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 billionaire who owns luxury goods group LVMH and has a net worth of $116 billion.

Oxfam’s report noted that someone who saved $10,000 a day since the construction of the Egyptian pyramids would still be 80% less wealthy than the world’s five richest billionaires.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: chloe taylor
Keywords: news, cnbc, companies, worlds, world, report, net, worth, richest, wealth, billion, combined, oxfam, sitting, person, billionaires, 2153


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Surging Swiss franc may have become a gold proxy, Goldman Sachs says

The Swiss franc, which has been in a steep incline against the dollar of late, may be being used as a proxy for gold, according to Goldman Sachs. But where gold has gone, the Swiss franc has followed, Goldman Sachs Co-Head of Global Foreign Exchange Zach Pandl highlighted in a note Sunday. The franc was trading at around $1.03 by mid-morning on Monday. Gold recently soared to six and a half-year highs, and spot gold prices were hovering just below $1,560 per troy ounce on Monday. “While the driv


The Swiss franc, which has been in a steep incline against the dollar of late, may be being used as a proxy for gold, according to Goldman Sachs.
But where gold has gone, the Swiss franc has followed, Goldman Sachs Co-Head of Global Foreign Exchange Zach Pandl highlighted in a note Sunday.
The franc was trading at around $1.03 by mid-morning on Monday.
Gold recently soared to six and a half-year highs, and spot gold prices were hovering just below $1,560 per troy ounce on Monday.
“While the driv
Surging Swiss franc may have become a gold proxy, Goldman Sachs says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: elliot smith
Keywords: news, cnbc, companies, gold, franc, swiss, tensions, goldman, geopolitical, zach, surging, sachs, proxy, recent, demand, pandl


Surging Swiss franc may have become a gold proxy, Goldman Sachs says

The Swiss franc, which has been in a steep incline against the dollar of late, may be being used as a proxy for gold, according to Goldman Sachs.

Gold has rallied in recent weeks following the spiking of geopolitical tensions in the Middle East, instigated by the U.S. killing of top Iranian military commander Qasem Soleimani, and is widely regarded by investors as a “safe haven” amid turbulent periods.

But where gold has gone, the Swiss franc has followed, Goldman Sachs Co-Head of Global Foreign Exchange Zach Pandl highlighted in a note Sunday. The franc was trading at around $1.03 by mid-morning on Monday.

Gold recently soared to six and a half-year highs, and spot gold prices were hovering just below $1,560 per troy ounce on Monday.

“While the drivers of recent performance are not entirely clear-cut, we believe the surge in geopolitical tensions may have motivated investor demand for CHF, much as it has driven demand for gold,” Pandl said.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: elliot smith
Keywords: news, cnbc, companies, gold, franc, swiss, tensions, goldman, geopolitical, zach, surging, sachs, proxy, recent, demand, pandl


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China confirms some 140 new cases of Sars-like virus ahead of peak travel season

Health authorities in China on Monday confirmed nearly 140 new cases of a mysterious pneumonia-like virus, which has killed three people so far. It comes as the country’s peak holiday travel season kicks off ahead of the Lunar New Year, sparking concerns over the spread of the viral strain and its possible impact on economic growth. “Looking further on, I think we’re likely to have cases around China and also there will likely be cases in other countries as people travel,” Phelan told CNBC on Mo


Health authorities in China on Monday confirmed nearly 140 new cases of a mysterious pneumonia-like virus, which has killed three people so far.
It comes as the country’s peak holiday travel season kicks off ahead of the Lunar New Year, sparking concerns over the spread of the viral strain and its possible impact on economic growth.
“Looking further on, I think we’re likely to have cases around China and also there will likely be cases in other countries as people travel,” Phelan told CNBC on Mo
China confirms some 140 new cases of Sars-like virus ahead of peak travel season Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: huileng tan
Keywords: news, cnbc, companies, season, 140, screening, travel, chinese, cases, virus, sarslike, confirms, spread, coronavirus, china, wuhan, travelers, ahead, peak


China confirms some 140 new cases of Sars-like virus ahead of peak travel season

Health authorities in China on Monday confirmed nearly 140 new cases of a mysterious pneumonia-like virus, which has killed three people so far. It comes as the country’s peak holiday travel season kicks off ahead of the Lunar New Year, sparking concerns over the spread of the viral strain and its possible impact on economic growth. “It’s highly likely we’ll see this virus spread given that it appears there’s some form of human-to-human transmission and given the scale of travel in the lead-up to Chinese New Year,” said Alexandra Phelan, faculty research instructor in the microbiology and immunology department at Georgetown University. “Looking further on, I think we’re likely to have cases around China and also there will likely be cases in other countries as people travel,” Phelan told CNBC on Monday. While the Sars-virus first emerged in the central city of Wuhan in late December, the 139 new cases that appeared over the weekend in China showed new cases in the capital of Beijing in the north of the country, as well as in the southern city of Shenzhen, Reuters reported. This brings the total to more than 200 confirmed cases from the new coronavirus strain. Three of them have died.

Impact on travelers

Hundreds of millions of Chinese travelers are expected to travel both domestically and internationally as Lunar New Year starts this Saturday, igniting fears of a further spread of the virus and kindling memories of the fatal Sars pandemic in 2002 and 2003 that killed nearly 800 globally. The Sars pandemic — also caused by a coronavirus — cost the global economy tens of billions of dollars. On Monday, South Korea confirmed its first case of the new coronavirus in a Chinese woman who flew to Incheon International Airport from Wuhan. Two cases have also been reported in Thailand and one in Japan. They involved two Chinese from Wuhan and a resident in Japan who had travel history to the city — where the virus is linked to a large seafood and animal market, suggesting that the virus had jumped from animals to humans, said the Centers for Disease Control and Prevention on its website. However, some of the patients have not had exposure to the animal markets, “suggesting that some limited person-to-person spread is occurring,” the CDC said Friday. Airport authorities around the world have already stepped up health screening of travelers at their borders to pick up suspected cases. Measures include temperature screening. However, as symptoms from the new Wuhan coronavirus infection are similar to that of other respiratory conditions, there will be “a lot” of travelers who would be wrongly picked up alongside, Phelan said. “They can be a useful opportunity to provide people with information if they do feel sick … but most of the time, border screening is actually a very expensive, not particularly effective way of actually preventing the spread of disease,” said Phelan.

Impact on China’s economy

While the nature and severity of the new coronavirus is still under investigation, it could pose a major risk to Asia Pacific economies, experts said. “Human-to-human transmission will be (the) tipping point, and mass movements in China during CNY (Chinese New Year) may be an unwelcomed accelerant,” said Vishnu Varathan, Asia head of economics and strategy at Mizuho Bank.

The 2003 Sars crisis created a severe negative impact on GDP growth for the Chinese economy and also hit the economies of a number of Southeast Asian nations. Rajiv Biswas Asia Pacific chief economist at IHS Markit


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: huileng tan
Keywords: news, cnbc, companies, season, 140, screening, travel, chinese, cases, virus, sarslike, confirms, spread, coronavirus, china, wuhan, travelers, ahead, peak


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European stocks slightly lower as caution returns ahead of Davos

European markets traded slightly lower on Monday as policymakers and business leaders gather in Davos, Switzerland for the annual World Economic Forum (WEF) conference . The pan-European Stoxx 600 was down 0.1% during afternoon trade, with household goods falling 0.9% to lead losses while insurance stocks added 0.5%. Climate change and sustainable business will be a key focus for delegates at this year’s WEF summit, but other political risks such as international trade and geopolitical instabili


European markets traded slightly lower on Monday as policymakers and business leaders gather in Davos, Switzerland for the annual World Economic Forum (WEF) conference .
The pan-European Stoxx 600 was down 0.1% during afternoon trade, with household goods falling 0.9% to lead losses while insurance stocks added 0.5%.
Climate change and sustainable business will be a key focus for delegates at this year’s WEF summit, but other political risks such as international trade and geopolitical instabili
European stocks slightly lower as caution returns ahead of Davos Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: elliot smith chloe taylor, elliot smith, chloe taylor
Keywords: news, cnbc, companies, business, worlds, unchanged, traded, tensions, returns, caution, davos, trade, wef, trump, slightly, lower, vice, stocks, world, ahead, european


European stocks slightly lower as caution returns ahead of Davos

European markets traded slightly lower on Monday as policymakers and business leaders gather in Davos, Switzerland for the annual World Economic Forum (WEF) conference .

The pan-European Stoxx 600 was down 0.1% during afternoon trade, with household goods falling 0.9% to lead losses while insurance stocks added 0.5%.

Climate change and sustainable business will be a key focus for delegates at this year’s WEF summit, but other political risks such as international trade and geopolitical instability are also likely to be on the agenda.

Elsewhere, the People’s Bank of China kept its loan prime rate unchanged on Monday, sending Asian shares higher. The decision came after President Donald Trump and Chinese Vice Premier Liu He signed a long-awaited “phase one” trade deal on Wednesday, easing tensions between the world’s two largest economies.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: elliot smith chloe taylor, elliot smith, chloe taylor
Keywords: news, cnbc, companies, business, worlds, unchanged, traded, tensions, returns, caution, davos, trade, wef, trump, slightly, lower, vice, stocks, world, ahead, european


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Snipers, security guards and soldiers: Keeping the elite safe at Davos is not cheap

FABRICE COFFRINIThe annual World Economic Forum (WEF) is about to kick off in Davos and with heads of state and global business leaders gathering at the event, keeping attendants safe is a top priority. In previous years, the army has incurred costs of around 32 million Swiss francs per annual meeting. “Overall, the cost of deploying troops at the WEF Annual Meeting is much the same as that incurred by the same battalions when on regular training. In previous years, the deployment of the armed f


FABRICE COFFRINIThe annual World Economic Forum (WEF) is about to kick off in Davos and with heads of state and global business leaders gathering at the event, keeping attendants safe is a top priority.
In previous years, the army has incurred costs of around 32 million Swiss francs per annual meeting.
“Overall, the cost of deploying troops at the WEF Annual Meeting is much the same as that incurred by the same battalions when on regular training.
In previous years, the deployment of the armed f
Snipers, security guards and soldiers: Keeping the elite safe at Davos is not cheap Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: holly ellyatt
Keywords: news, cnbc, companies, security, elite, keeping, swiss, costs, forum, davos, safe, francs, guards, annual, meeting, cheap, snipers, wef, soldiers, million


Snipers, security guards and soldiers: Keeping the elite safe at Davos is not cheap

A police sniper secures a roof next to the Congress Centre on the eve of the opening day of the World Economic Forum, on January 16, 2017 in Davos. FABRICE COFFRINI

The annual World Economic Forum (WEF) is about to kick off in Davos and with heads of state and global business leaders gathering at the event, keeping attendants safe is a top priority. President Donald Trump, the European Central Bank President Christine Lagarde, the new managing director of the International Monetary Fund Kristalina Georgieva, German Chancellor Angela Merkel and climate activist Greta Thunberg are just a few of the high-profile names (there are 3,000 attendants) at the summit in the Swiss Alps that runs from January 21 to 24. With many people watching the event to see if the world’s elite can agree on how to improve “the state of the world,” Switzerland and WEF bear a huge burden of responsibility to ensure attendants are kept safe — and that they are seen to be kept safe too. As such, security is both conspicuous and discreet in Davos. Soldiers patrol the streets of the small ski-orientated town and security checks are carried out on personnel, vehicle and bags on access roads into the area. Snipers can be seen stationed on the roofs of buildings; security is obviously extremely tight within the main Forum too, known as the Congress Center. The Forum is held in the Swiss state of Graubünden — the Canton of Grisons — and the regional government is in charge of security rather than the country’s Ministry of Defense, although the local authority can ask for help from police teams outside the state as well as from the Swiss armed forces, which do attend the event.

A sniper of Swiss police stands on top of the Congress Center on January 25, 2011 in Davos. JOHANNES EISELE

Security costs

The Canton of Grisons has published security information and costs for 2020 and says that the additional costs for the security of the WEF Annual Meeting 2020 are expected to total around 9 million Swiss francs ($9.35 million). A quarter of those costs are borne by WEF (around 2.25 million Swiss francs), another quarter by the Canton of Grisons, the Davos municipality pays an eighth of the costs and federal government around a third (around 3.3 million Swiss francs). In previous years, the army has incurred costs of around 32 million Swiss francs per annual meeting. WEF notes that, overall, the deployment of the armed forces to support the event is funded through the Swiss defense department’s budget. Switzerland’s Parliament authorized the deployment of up to 5,000 armed forces personnel in 2019-2021 for “civil support duties.” “Overall, the cost of deploying troops at the WEF Annual Meeting is much the same as that incurred by the same battalions when on regular training. In previous years, the deployment of the armed forces has cost around 32 million Swiss francs per meeting,” WEF notes.

The threat of potential terrorist attacks at an event like the Forum is at the forefront of authorities’ minds too and security restrictions are in place over the airspace of Davos to safeguard air sovereignty. The Swiss government states that “the terrorist threat in many European countries remains elevated or high” and that the “spate of attacks in Europe and their considerable media impact may also incite radicalised persons in Switzerland to carry out terrorist violence.” “The security authorities at federal and cantonal level continuously assess the situation and take appropriate measures where necessary. Robust security precautions with a high, visible police presence, intensive reconnaissance and police checks is necessary in 2020 to ensure that the WEF Annual Meeting passes off safely.”

Unforeseen events

Security costs can change, of course, especially if there is the participation of an extraordinarily large number people who are designated as “internationally protected people” or significant increase in accommodation costs for non-cantonal security staff. Or there is an unforeseen expansion of the security zone in Davos due to the number of protective persons or even due to meteorological reasons, in that case the Swiss government will provide extra funds.

Armed security personnel stand guard on the rooftop of a hotel in Davos, Switzerland. Fabrice Coffrini | AFP | Getty Images


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: holly ellyatt
Keywords: news, cnbc, companies, security, elite, keeping, swiss, costs, forum, davos, safe, francs, guards, annual, meeting, cheap, snipers, wef, soldiers, million


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Step aside, avocado toast — Australia’s next taste sensation has arrived

The founders of Four Pillars Gin: (from left) Stu Gregor, Cam MacKenzie and Matt Jones. Four Pillars Gin range. Four Pillars gin is available throughout Australia, as well as in the U.S., Canada, Europe and Asia. Eighteen months ago, Little Lon’s founder Brad Wilson and his team moved into a small location in the heart of Melbourne. Courtesy of Little Lon Distilling”The story and history of this place was a big thing.


The founders of Four Pillars Gin: (from left) Stu Gregor, Cam MacKenzie and Matt Jones.
Four Pillars Gin range.
Four Pillars gin is available throughout Australia, as well as in the U.S., Canada, Europe and Asia.
Eighteen months ago, Little Lon’s founder Brad Wilson and his team moved into a small location in the heart of Melbourne.
Courtesy of Little Lon Distilling”The story and history of this place was a big thing.
Step aside, avocado toast — Australia’s next taste sensation has arrived Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: carrie hutchinson
Keywords: news, cnbc, companies, gregor, jarvis, yarra, step, taste, gin, shiraz, ago, arrived, australias, aside, avocado, wilson, sensation, little, pillars, lon, toast


Step aside, avocado toast — Australia's next taste sensation has arrived

From the moment they decided to open a distillery in Australia’s Yarra Valley, the co-founders of Four Pillars Gin — Stu Gregor, Cam MacKenzie and Matt Jones — knew it was serious business. “When we started, we didn’t want to make the best gin in Melbourne,” said Gregor, “but one that would be considered a great gin compared to any in the world.”

The founders of Four Pillars Gin: (from left) Stu Gregor, Cam MacKenzie and Matt Jones. Courtesy of Four Pillars Gin

Six years ago, they invested in a German still and perfected a range of gins, including the company’s flagship drop, Rare Dry Gin, made with native botanicals like lemon myrtle and Tasmanian pepperberry. In November of 2019, they achieved their goal, winning the 2019 International Gin Producer of the Year at the 50th Annual International Wine and Spirits Com petition in London. A big part of their success has been getting the product in front of a wide variety of people.

Four Pillars Gin range. Courtesy of Four Pillars Gin

“Five years ago, most people had never had an Aussie gin,” said Gregor. “It was something their grandma drank, and they probably would only have come across Gordon’s or Beefeater.” “We wanted to have a great home that people would want to visit. It was rammed when I arrived here today, and that was at 11:45 a.m. on a Friday morning,” he said.

“Five years ago, most people had never had an Aussie gin. It was something their grandma drank. Stu Gregor Co-founder of Four Pillars Gin

Recognizing their chosen beverage might not be to everyone’s taste, they developed a range of gins to appeal to a wide variety of drinkers. There’s a Spiced Negroni Gin, Christmas Gin and Bloody Shiraz Gin, the latter a tip of the cap to their home in the Yarra Valley, a well-known producer of Australia’s shiraz wine. “We made the first batch of Bloody Shiraz as a bit of an experiment,” Gregor explained. “This year we’ll make well over 100,000 bottles, and we buy more shiraz grapes than anyone else in the Yarra Valley.” Four Pillars gin is available throughout Australia, as well as in the U.S., Canada, Europe and Asia.

Dark past, bright futures

“About five years ago, the Australian gin market was made up of about five craft distilleries,” said Little Lon Distilling. executive Dean Jarvis. “At last count there’s something like 241.” “We thought it might last 12 to 18 months, and it’s been five or six years and shows no sign of slowing down.” Eighteen months ago, Little Lon’s founder Brad Wilson and his team moved into a small location in the heart of Melbourne. One of the last red-brick, single-story cottages in the city, the distillery’s new home came with an interesting past.

Melbourne’s Little Lon distillery. Courtesy of Little Lon Distilling

“The story and history of this place was a big thing. Around the 1890s and into the early 1900s, this was a brothel and sly grog shop,” Wilson said, using the Australian term for a place that sold illegal alcohol during the country’s Prohibition period. “That was the madam’s work room,” he said, indicating a small space that currently houses the still. “Now it’s our work room.” From the start, Wilson was serious about creating a unique product. “We’re one of the few distillers who go to the trouble of making a base spirit from malt barley,” he explained. “We make it a bit hard for ourselves, but we get a lot more control over the flavor.”

Little Lon’s Dean Jarvis. Courtesy of Little Lon Distilling

In the 20-seater bar area, Jarvis pours tastes of the company’s three main products. First up is Ginger Mick, named after a “local larrikin” (an Aussie term for mischief maker), that is made with mixed citrus and fresh ginger — a great gin for cocktails. Then it’s Miss Yoko, the Chinese madam of the house (who told people she was from Japan). The drink is “a little bit exotic and made with fresh, hand-peeled lychees, lemongrass and a little bit of cinnamon,” Jarvis said. “It’s really great as is — subtle, you really have to look for the lychees — but if you add a splash of tonic, you almost get freeze-dried raspberries.”

We’re one of the few distillers who go to the trouble of making a base spirit from malt barley. Brad Wilson founder of Little Lon Distilling

Finally there’s the rosemary overtones of Constable Proudfoot, named after an imposing policeman who once patrolled the area streets. “It makes a cracking G&T or a herbaceous, floral martini, if that’s your thing,” said Jarvis. Those who sign up for a masterclass receive a gin tasting, distillery tour and lessons on the rich history of the area and the characters who once roamed the building and neighboring streets.

Gin flights and martini carts

When they launched the business three years ago, Dave Irwin and Matt Argus of Patient Wolf Distilling worked from a Brunswick warehouse in the north of Melbourne. But the space wasn’t big enough to house their ambitions. In December of 2019, they moved to the the city’s Southbank, not far from the Yarra River and city center. “Now we have a bar and a place where we can tell people more about the distillery,” said Irwin. “We wanted to feed our brand, first of all, but having a front-of-house allows us to portray how we want to be seen and how we want the drinks to be made.”

The interior of Patient Wolf Distilling Cheyne Toomey Photography

Those wanting a taste of Patient Wolf can order a gin flight which comes with an explanation of how each is made along with each gin’s unique characteristics. “Before we even made our first gin, we identified gaps in the market,” said Irwin, who launched into the fast-growing market. “We put gin samples in front of people to get their thoughts. Now everything we do is based on tradition — but has an edge to it.” Patient Wolf’s Melbourne Dry Gin — “a good all-rounder” — is available around the country. “We vapor infuse with grapefruit and orange, and it’s made in the London Dry style,” said Irwin, noting the presence of juniper, coriander and lesser-known botanicals like aniseed myrtle. Tonka beans from Brazil and Venezuela add flavors of marzipan and bitter almond and give the gin a good viscosity, he added.

A challenge to the bar scene, it’s now popular to meet at distilleries. Cheyne Toomey Photography


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: carrie hutchinson
Keywords: news, cnbc, companies, gregor, jarvis, yarra, step, taste, gin, shiraz, ago, arrived, australias, aside, avocado, wilson, sensation, little, pillars, lon, toast


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