Hopes for fiscal stimulus are driving ‘optimism’ in Davos, says Barclays CEO

The potential for governments to deploy fiscal stimulus policies in 2020 is creating greater optimism at this year’s World Economic Forum in Davos than a year ago, according to Barclays CEO Jes Staley. With the European Central Bank (ECB) cutting interest rates to a record low -0.5% last year, new ECB President Christine Lagarde has joined her predecessor Mario Draghi’s calls for governments with fiscal headroom, such as Germany and the Netherlands, to start fiscal spending programs in order to


The potential for governments to deploy fiscal stimulus policies in 2020 is creating greater optimism at this year’s World Economic Forum in Davos than a year ago, according to Barclays CEO Jes Staley.
With the European Central Bank (ECB) cutting interest rates to a record low -0.5% last year, new ECB President Christine Lagarde has joined her predecessor Mario Draghi’s calls for governments with fiscal headroom, such as Germany and the Netherlands, to start fiscal spending programs in order to
Hopes for fiscal stimulus are driving ‘optimism’ in Davos, says Barclays CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: elliot smith
Keywords: news, cnbc, companies, stimulus, fiscal, davos, start, driving, hopes, rates, staley, ceo, barclays, spending, monetary, optimism, policy, world


Hopes for fiscal stimulus are driving 'optimism' in Davos, says Barclays CEO

The potential for governments to deploy fiscal stimulus policies in 2020 is creating greater optimism at this year’s World Economic Forum in Davos than a year ago, according to Barclays CEO Jes Staley.

With the European Central Bank (ECB) cutting interest rates to a record low -0.5% last year, new ECB President Christine Lagarde has joined her predecessor Mario Draghi’s calls for governments with fiscal headroom, such as Germany and the Netherlands, to start fiscal spending programs in order to boost the ailing euro zone economy.

The U.S. Federal Reserve cut rates three times in 2019 as central banks around the world shifted toward more accommodative monetary policies.

“The U.S. is taking that and driving a fiscal stimulus policy, and I think you will start to see other countries like the U.K. begin to do that, and that’s providing a certain floor to the economy which is lending itself to more optimism in Davos this year than last year,” Staley told CNBC on Wednesday.

With markets now beginning to price in a cut by the Bank of England this year, Staley predicted that the British government will look to embark on a broad fiscal spending program to invest in regional infrastructure, since the impact of looser monetary policy on the global economy is diminishing as rates worldwide move closer to negative.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: elliot smith
Keywords: news, cnbc, companies, stimulus, fiscal, davos, start, driving, hopes, rates, staley, ceo, barclays, spending, monetary, optimism, policy, world


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Business leaders in Davos privately express concerns about China’s coronavirus outbreak

DAVOS, Switzerland — Leaders of American businesses attending the World Economic Forum have privately expressed concerns about the coronavirus, which has killed more than a dozen people in China. The talks also covered how leaders would manage their businesses amid the upcoming Chinese New Year celebrations and beyond. This executive declined to be named or disclose the name of the bank issuing the guidance, given the sensitivity of the matter. “We are advising staff to be aware of the situation


DAVOS, Switzerland — Leaders of American businesses attending the World Economic Forum have privately expressed concerns about the coronavirus, which has killed more than a dozen people in China.
The talks also covered how leaders would manage their businesses amid the upcoming Chinese New Year celebrations and beyond.
This executive declined to be named or disclose the name of the bank issuing the guidance, given the sensitivity of the matter.
“We are advising staff to be aware of the situation
Business leaders in Davos privately express concerns about China’s coronavirus outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: brian schwartz
Keywords: news, cnbc, companies, outbreak, bank, concerns, leaders, declined, according, chinas, world, staff, express, executive, privately, named, business, coronavirus, virus, davos, china


Business leaders in Davos privately express concerns about China's coronavirus outbreak

DAVOS, Switzerland — Leaders of American businesses attending the World Economic Forum have privately expressed concerns about the coronavirus, which has killed more than a dozen people in China.

Several of these executives, who have investments in China, said on Wednesday that they are concerned about the virus spreading beyond China’s rural areas and into heavily populated cities, according to people with direct knowledge of the matter. These people declined to be named because they didn’t want to cause alarm.

The virus, which has sickened at least 440 people and killed 17 in China, has already spread into Beijing, Shanghai and Macau. Beyond China, the Centers for Disease Control and Prevention recently confirmed one case of the virus making its way to the U.S.

Some business leaders raised these concerns directly with President Donald Trump during a breakfast Wednesday morning, according to an executive at the gathering who declined to be named because the event was private.

Trump brushed aside those concerns, according to the executive, echoing comments he made earlier in the day, during an interview with CNBC’s Joe Kernen that aired on “Squawk Box.” The president said in the interview that he trusted China’s President Xi Jinping’s handling of the virus and said the U.S. has it “totally under control.”

A White House spokesperson did not respond to a request for comment.

The discussions in Davos have focused, in part, on the impact the virus could have on the livelihoods of the citizens of China and people around the world if it turned into a pandemic, the people said. The talks also covered how leaders would manage their businesses amid the upcoming Chinese New Year celebrations and beyond. The holiday is one of the busiest travel days in China.

Many companies, including big financial institutions J.P. Morgan, Citigroup, Morgan Stanley and Bank of America, have offices in China and employ thousands of people there. While these American banks have yet to issue any warnings about the virus, a Europe-based financial institution has issued guidance to its staff as the virus spreads, according to a person at the bank participating in the World Economic Forum. This executive declined to be named or disclose the name of the bank issuing the guidance, given the sensitivity of the matter.

“We are advising staff to be aware of the situation, close monitoring is in place, and staff health and safety is our top priority,” the bank executive said.

Some business leaders have said publicly that the spread of the virus could hurt stocks.

“We’ve got a curveball with this coronavirus. I think that’s a big deal. If you look at what happened in 2003, estimates ranged 0.5% to 2% in GDP for China, half a percent for Southeast Asia,” investor Paul Tudor Jones told CNBC’s “Squawk Box” from the World Economic Forum.

U.S. business executives at the conference have been hearing privately from their Chinese counterparts that the outbreak could become equivalent to that of SARS, or severe acute respiratory syndrome, which originated in China in 2002. That virus led to more than 700 deaths. Some analysts have said the virus does not appear to be as lethal as SARS.

Not everyone in Davos is raising a red flag about the coronavirus. A medical industry executive, who declined to be named because their company sessions are private, said they had not started holding deliberations about it because they believe the virus is mostly contained in rural areas.

But Scott Gottlieb, the former commissioner of the U.S. Food and Drug Administration, told CNBC in a phone interview on Wednesday that the unknown aspects of the virus could create fear, especially if it turns into an epidemic.

“It appears, based on the limiting information we have now, that for most people it should only cause a mild or moderate illness,” Gottlieb said. “But there’s a lot we don’t know, and even a mild illness, if it’s novel and becomes epidemic, can create a lot of fear and uncertainty.”


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: brian schwartz
Keywords: news, cnbc, companies, outbreak, bank, concerns, leaders, declined, according, chinas, world, staff, express, executive, privately, named, business, coronavirus, virus, davos, china


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US-China deal offers a ‘pathway to peace,’ IMF chief says

The signing of a “phase one” trade deal between the U.S. and China offers a “pathway to peace” which improves the outlook for the global economy, according to International Monetary Fund (IMF) Managing Director Kristalina Georgieva. The IMF this week revised down its forecast for global economic growth in 2020 to 3.3% from the 3.4% projected in October 2019. However, Georgieva told a CNBC panel at the World Economic Forum in Davos, Switzerland, that the trade truce had “reduced by 0.3% what woul


The signing of a “phase one” trade deal between the U.S. and China offers a “pathway to peace” which improves the outlook for the global economy, according to International Monetary Fund (IMF) Managing Director Kristalina Georgieva.
The IMF this week revised down its forecast for global economic growth in 2020 to 3.3% from the 3.4% projected in October 2019.
However, Georgieva told a CNBC panel at the World Economic Forum in Davos, Switzerland, that the trade truce had “reduced by 0.3% what woul
US-China deal offers a ‘pathway to peace,’ IMF chief says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: elliot smith
Keywords: news, cnbc, companies, peace, truce, offers, deal, trade, war, worlds, pathway, global, uschina, week, economic, imf, chief, world


US-China deal offers a 'pathway to peace,' IMF chief says

The signing of a “phase one” trade deal between the U.S. and China offers a “pathway to peace” which improves the outlook for the global economy, according to International Monetary Fund (IMF) Managing Director Kristalina Georgieva.

The IMF this week revised down its forecast for global economic growth in 2020 to 3.3% from the 3.4% projected in October 2019.

However, Georgieva told a CNBC panel at the World Economic Forum in Davos, Switzerland, that the trade truce had “reduced by 0.3% what would have been the cost on the world economy.”

Washington and Beijing last week inked the partial deal which had been more than 18 months in the making, with the world’s two largest economies having levied billions of dollars of tariffs on one another’s imports over the course of a bruising trade war.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: elliot smith
Keywords: news, cnbc, companies, peace, truce, offers, deal, trade, war, worlds, pathway, global, uschina, week, economic, imf, chief, world


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New York the top city globally for entrepreneurial talent, Adecco says

New York is the best city in the world for talent competitiveness, according to annual rankings by HR provider, the Adecco Group. The U.S. city led the way thanks to its strong performance across four of the five pillars on which Adecco bases its research — enabling, attracting and growing talent, as well as its ability to develop global knowledge skills. London came in second place, followed by Singapore, San Francisco and Boston rounding out the top five places. Adecco released the 2020 Global


New York is the best city in the world for talent competitiveness, according to annual rankings by HR provider, the Adecco Group.
The U.S. city led the way thanks to its strong performance across four of the five pillars on which Adecco bases its research — enabling, attracting and growing talent, as well as its ability to develop global knowledge skills.
London came in second place, followed by Singapore, San Francisco and Boston rounding out the top five places.
Adecco released the 2020 Global
New York the top city globally for entrepreneurial talent, Adecco says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: vicky mckeever
Keywords: news, cnbc, companies, entrepreneurial, city, talent, globally, adecco, competitiveness, world, global, report, yorkbased, york, way


New York the top city globally for entrepreneurial talent, Adecco says

New York is the best city in the world for talent competitiveness, according to annual rankings by HR provider, the Adecco Group.

The U.S. city led the way thanks to its strong performance across four of the five pillars on which Adecco bases its research — enabling, attracting and growing talent, as well as its ability to develop global knowledge skills.

The report referred to the success of New York-based start-up Pymetrics, which uses artificial intelligence (AI) — the core theme of this year’s report — and neuroscience to match people to jobs, helping the labor market.

London came in second place, followed by Singapore, San Francisco and Boston rounding out the top five places.

Adecco released the 2020 Global Talent Competitiveness Index at the World Economic Forum in Davos. It measures talent competitiveness across 132 countries and 155 cities, in partnership with business school INSEAD and tech giant Google.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: vicky mckeever
Keywords: news, cnbc, companies, entrepreneurial, city, talent, globally, adecco, competitiveness, world, global, report, yorkbased, york, way


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European markets advance as investors track coronavirus and earnings

European markets advanced on Wednesday after China unveiled measures to rein in the spread of a new strain of coronavirus that has killed nine people so far. Stocks worldwide began a tentative recovery Wednesday as the Chinese government’s plans to contain the virus seemed to ease equity investors’ concerns over a possible pandemic, though markets will remain attuned to news out of China. U.S. stocks fell on Tuesday after the Centers for Disease Control confirmed the first U.S. case of a mysteri


European markets advanced on Wednesday after China unveiled measures to rein in the spread of a new strain of coronavirus that has killed nine people so far.
Stocks worldwide began a tentative recovery Wednesday as the Chinese government’s plans to contain the virus seemed to ease equity investors’ concerns over a possible pandemic, though markets will remain attuned to news out of China.
U.S. stocks fell on Tuesday after the Centers for Disease Control confirmed the first U.S. case of a mysteri
European markets advance as investors track coronavirus and earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: elliot smith holly ellyatt, elliot smith, holly ellyatt
Keywords: news, cnbc, companies, earnings, worldwide, european, investors, wef, china, track, stocks, workerat, markets, virus, advance, coronavirus, world, confirmed, wellbeing


European markets advance as investors track coronavirus and earnings

European markets advanced on Wednesday after China unveiled measures to rein in the spread of a new strain of coronavirus that has killed nine people so far.

The pan-European Stoxx 600 edged up 0.3% in early trade, with autos jumping 1% to lead gains as almost all sectors and major bourses entered positive territory.

Stocks worldwide began a tentative recovery Wednesday as the Chinese government’s plans to contain the virus seemed to ease equity investors’ concerns over a possible pandemic, though markets will remain attuned to news out of China.

U.S. stocks fell on Tuesday after the Centers for Disease Control confirmed the first U.S. case of a mysterious virus that has infected hundreds in China. Health officials have also confirmed cases in Thailand, South Korea, Japan and Taiwan.

However, stocks on Wall Street are expected to bounce back on Wednesday morning.

In other news, market focus in the region will continue to be on the World Economic Forum (WEF) in Davos, Switzerland. In a keynote speech Tuesday, U.S. President Donald Trump urged other countries to “put their own citizens first.”

He said America’s “newfound prosperity” is undeniable and said the country had “achieved this stunning turnaround not by making minor changes to a handful of policies, but by adopting a whole new approach centered entirely on the well-being of the American worker.”

At WEF on Wednesday, CNBC is hosting a ‘Future of Financial Markets’ panel featuring U.S. Treasury Secretary Steven Mnuchin, IMF Managing Director Kristalina Georgieva, U.K. Chancellor Sajid Javid and UBS Chairman Axel Weber.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: elliot smith holly ellyatt, elliot smith, holly ellyatt
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Dimon says the only financial market bubble out there right now is in sovereign debt

J.P. Morgan Chase CEO Jamie Dimon said Wednesday the only financial market bubble he sees right now is in government red ink. At the World Economic Forum in Davos, Switzerland, CNBC’s Andrew Ross Sorkin asked Dimon if he sees any frothy areas in the market. The total U.S. public debt outstanding stands above $23 trillion, with debt held by the public north of $17 trillion. If inflation unexpectedly shot higher, it could force central banks to hike interest rates to help cool down the economy. “D


J.P. Morgan Chase CEO Jamie Dimon said Wednesday the only financial market bubble he sees right now is in government red ink.
At the World Economic Forum in Davos, Switzerland, CNBC’s Andrew Ross Sorkin asked Dimon if he sees any frothy areas in the market.
The total U.S. public debt outstanding stands above $23 trillion, with debt held by the public north of $17 trillion.
If inflation unexpectedly shot higher, it could force central banks to hike interest rates to help cool down the economy.
“D
Dimon says the only financial market bubble out there right now is in sovereign debt Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: thomas franck
Keywords: news, cnbc, companies, dimon, negative, deficit, financial, debt, central, rates, bubble, fiscal, interest, right, sovereign, trillion, world, market


Dimon says the only financial market bubble out there right now is in sovereign debt

J.P. Morgan Chase CEO Jamie Dimon said Wednesday the only financial market bubble he sees right now is in government red ink.

At the World Economic Forum in Davos, Switzerland, CNBC’s Andrew Ross Sorkin asked Dimon if he sees any frothy areas in the market.

“Only in sovereign debt,” the bank chief responded.

The U.S. government released eye-popping deficit numbers as recently as last week that showed the federal budget deficit is on course to cross $1 trillion in fiscal 2020.

The government ran a deficit of $357 billion in the fiscal quarter ending in December and is on track to reach $1 trillion this fiscal year for the first time since 2012.

The total U.S. public debt outstanding stands above $23 trillion, with debt held by the public north of $17 trillion.

But Dimon added that historically low interest rates around the world have kept markets not only calm amid rising levels of debt, but that negative interest rates as seen in Europe are further proof that investors could be overpricing government debt.

“Right now people think central banks around the world can do whatever they want. They can’t,” he continued. “They’re intelligent, looking at all the facts trying to figure out what to do. But [inflation] would be the big negative surprise.”

If inflation unexpectedly shot higher, it could force central banks to hike interest rates to help cool down the economy. But that would also make government borrowing significantly more expensive. Bond prices rise as yields fall.

“I think it’s very hard for central banks to forever make up for bad policy elsewhere. And that puts them in a trap,” Dimon said. “Do you know anyone who’s actually bought a negative interest rate bond?”

“I would never buy a negative rate bond. Not unless I was forced,” he added. “In history, whenever you see something like that, it doesn’t necessarily end well.”

Dimon has led New York-based firm since 2005, navigating it through the financial crisis and managing it into the biggest U.S. bank by assets.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: thomas franck
Keywords: news, cnbc, companies, dimon, negative, deficit, financial, debt, central, rates, bubble, fiscal, interest, right, sovereign, trillion, world, market


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India may be going through a mental health ‘revolution,’ says Bollywood star Deepika Padukone

Deepika Padukone, one of India’s highest paid actresses and mental health campaigner, says the country is at the “beginning of a revolution” in dealing with these issues. Speaking to CNBC’s Tania Bryer, the actress said she felt people in India were now not as afraid to talk about mental health as they once were. Padukone won one of WEF’s cultural leadership Crystal Awards on Monday evening, for her campaigning to raise awareness around mental health. After going public with her mental health st


Deepika Padukone, one of India’s highest paid actresses and mental health campaigner, says the country is at the “beginning of a revolution” in dealing with these issues.
Speaking to CNBC’s Tania Bryer, the actress said she felt people in India were now not as afraid to talk about mental health as they once were.
Padukone won one of WEF’s cultural leadership Crystal Awards on Monday evening, for her campaigning to raise awareness around mental health.
After going public with her mental health st
India may be going through a mental health ‘revolution,’ says Bollywood star Deepika Padukone Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: vicky mckeever
Keywords: news, cnbc, companies, indias, movie, life, world, health, actress, padukone, star, felt, mental, india, going, deepika, having, bollywood, revolution


India may be going through a mental health 'revolution,' says Bollywood star Deepika Padukone

Indian actress Deepika Padukone delivers her acceptance speech during the “Crystal Award” ceremony at the World Economic Forum (WEF) annual meeting in Davos, on January 20, 2020.

Deepika Padukone, one of India’s highest paid actresses and mental health campaigner, says the country is at the “beginning of a revolution” in dealing with these issues.

Speaking to CNBC’s Tania Bryer, the actress said she felt people in India were now not as afraid to talk about mental health as they once were.

Padukone won one of WEF’s cultural leadership Crystal Awards on Monday evening, for her campaigning to raise awareness around mental health.

The actress founded The Live, Love, Laugh Foundation in 2015, after being diagnosed with depression herself the previous year.

The charity not only aims to spread awareness, having launched India’s first national campaign, but also works toward the destigmatization of mental illness.

After going public with her mental health struggles, Padukone said she felt there was a collective “sigh of relief” from those who had similar experiences.

“It almost felt like there was this burden the nation was having to deal with for so many generations and so many years — it felt like this veil had finally been lifted off,” she said at the World Economic Forum in Davos.

While she said people praised her openness about mental health as “brave” and courageous, Padukone viewed it as simply being “honest.”

Padukone went on to explain how her “powerful” experience with depression changed her as a person, in changing her perspective on life.

For this reason, the actress said she had a “love-hate relationship” with her mental illness, as she considered it the “darkest phase of her life” but also “learned a lot from it.”

Padukone most recently starred in “Chhapaak,” translated as “Splash” in which she played an acid attack survivor. The movie was based on the real life story of Laxmi Agarwal, who was attacked when she was 16 years’ old and is now a high-profile campaigner against the sale of acid.

Padukone is also known for her role in the 2018 period drama “Padmaavat” and alongside Vin Diesel, in the 2017 movie “xXx: The Return of Xander Cage.”

In addition to her most recent accolade in Davos, Padukone was named as one of Time magazine’s 100 most influential people of 2018.

Follow CNBC International on Twitter and Facebook.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: vicky mckeever
Keywords: news, cnbc, companies, indias, movie, life, world, health, actress, padukone, star, felt, mental, india, going, deepika, having, bollywood, revolution


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We cozy up ‘like little sardines’: Meet the youth delegates camping in subzero temperatures at Davos

Arctic Basecamp is hosting six global youth climate delegates at the World Economic Forum in Davos, Switzerland in 2020. In addition, two youth volunteers joined the Arctic Basecamp crew to help with with logistics. DAVOS, Switzerland — Youth climate delegates from around the world are taking part in a “collaborative protest” against the rich and powerful by camping in subzero temperatures at the World Economic Forum. It follows the hottest year on record for the world’s oceans, the second-hotte


Arctic Basecamp is hosting six global youth climate delegates at the World Economic Forum in Davos, Switzerland in 2020.
In addition, two youth volunteers joined the Arctic Basecamp crew to help with with logistics.
DAVOS, Switzerland — Youth climate delegates from around the world are taking part in a “collaborative protest” against the rich and powerful by camping in subzero temperatures at the World Economic Forum.
It follows the hottest year on record for the world’s oceans, the second-hotte
We cozy up ‘like little sardines’: Meet the youth delegates camping in subzero temperatures at Davos Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: sam meredith
Keywords: news, cnbc, companies, switzerland, delegates, davos, sardines, global, climate, temperatures, youth, economic, nakate, subzero, cozy, meet, world, camping, little


We cozy up 'like little sardines': Meet the youth delegates camping in subzero temperatures at Davos

Arctic Basecamp is hosting six global youth climate delegates at the World Economic Forum in Davos, Switzerland in 2020. In addition, two youth volunteers joined the Arctic Basecamp crew to help with with logistics.

DAVOS, Switzerland — Youth climate delegates from around the world are taking part in a “collaborative protest” against the rich and powerful by camping in subzero temperatures at the World Economic Forum.

The annual January get-together — which is often criticized for being out of touch with the real world — is set to welcome more than 3,000 participants this week, with those in attendance poised to focus on the intensifying climate crisis.

It follows the hottest year on record for the world’s oceans, the second-hottest year for global average temperatures and wildfires from the U.S. to the Amazon to Australia.

Many policymakers and business leaders are expected to travel in and out of Davos via private jets this year, but others have decided to camp in the Swiss Alpine town.

“We are just trying to show them that we are doing the right thing despite the fact that we are not sleeping or staying in the best conditions. And, as they are enjoying their first class (flights), they should know that there are people who are actually living in worse conditions,” Vanessa Nakate, a climate activist from Uganda, told CNBC on Tuesday.

“So, we are practically representing those people who are already facing the impact of the climate crisis. It is time to get out of our comfort zones,” Nakate said.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: sam meredith
Keywords: news, cnbc, companies, switzerland, delegates, davos, sardines, global, climate, temperatures, youth, economic, nakate, subzero, cozy, meet, world, camping, little


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IBM chief calls for ‘precision regulation’ on AI that weighs privacy against benefits to society

There does need to be artificial intelligence regulation but it must be thoughtfully crafted to allow for technological advancement, IBM Chair and CEO Ginni Rometty told CNBC on Wednesday. Rometty called on lawmakers to regulate “how the technology is used,” but not necessarily the technology itself. She pointed to facial recognition systems as an example of how such regulation could work. “When you go through an airport to get through safely, to find a criminal, those are good uses of facial re


There does need to be artificial intelligence regulation but it must be thoughtfully crafted to allow for technological advancement, IBM Chair and CEO Ginni Rometty told CNBC on Wednesday.
Rometty called on lawmakers to regulate “how the technology is used,” but not necessarily the technology itself.
She pointed to facial recognition systems as an example of how such regulation could work.
“When you go through an airport to get through safely, to find a criminal, those are good uses of facial re
IBM chief calls for ‘precision regulation’ on AI that weighs privacy against benefits to society Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, rometty, liberties, ibm, facial, recognition, precision, calls, privacy, chief, benefits, technology, systems, society, told, regulation, world, weighs


IBM chief calls for 'precision regulation' on AI that weighs privacy against benefits to society

There does need to be artificial intelligence regulation but it must be thoughtfully crafted to allow for technological advancement, IBM Chair and CEO Ginni Rometty told CNBC on Wednesday.

“Precision regulation is what I think is needed because … we’ve got to compete in this world against every country,” Rometty said in a “Squawk Box” interview from the World Economic Forum in Davos, Switzerland. “You want to have innovation flourish and you’ve got to balance that with security.”

Rometty called on lawmakers to regulate “how the technology is used,” but not necessarily the technology itself. She pointed to facial recognition systems as an example of how such regulation could work.

“When you go through an airport to get through safely, to find a criminal, those are good uses of facial recognition,” she said. “To violate your civil liberties, it’s not.”

Beyond civil liberties issues, other concerns around A.I. involve bias in algorithms. A.I. systems use large amounts of data, which could itself be biased, and the people writing the programs can have their own biases.

The issue was highlighted in November when allegations of algorithmic bias were levied against Goldman Sachs and its Apple Card. The investment bank denied the accusations.

Rometty’s comments follow remarks earlier this week from Alphabet CEO Sundar Pichai, who told European regulators to take a “proportionate approach” in its A.I. regulation proposals.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, rometty, liberties, ibm, facial, recognition, precision, calls, privacy, chief, benefits, technology, systems, society, told, regulation, world, weighs


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Planning a trip? These are the countries where it’s most (and least) expensive to dine out

The cost of a meal for two all depends on where in the world you’re dining. Globally, Switzerland is the most expensive place to eat out, with prices 77.5% higher than in the U.S. Iceland is the second most expensive, with prices 61.3% more expensive than in the U.S., and Norway is third most expensive, where restaurant meals are 60.9% pricier. Bayut referenced Numbeo’s 2019 Cost of Living Index, where the U.S. was used as the baseline (set to 0%). Therefore, the index for each country represent


The cost of a meal for two all depends on where in the world you’re dining.
Globally, Switzerland is the most expensive place to eat out, with prices 77.5% higher than in the U.S. Iceland is the second most expensive, with prices 61.3% more expensive than in the U.S., and Norway is third most expensive, where restaurant meals are 60.9% pricier.
Bayut referenced Numbeo’s 2019 Cost of Living Index, where the U.S. was used as the baseline (set to 0%).
Therefore, the index for each country represent
Planning a trip? These are the countries where it’s most (and least) expensive to dine out Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: anna hecht
Keywords: news, cnbc, companies, index, world, youre, used, countries, expensive, prices, trip, cost, ustunisia, restaurant, ussource, planning, dine


Planning a trip? These are the countries where it's most (and least) expensive to dine out

The cost of a meal for two all depends on where in the world you’re dining.

Globally, Switzerland is the most expensive place to eat out, with prices 77.5% higher than in the U.S. Iceland is the second most expensive, with prices 61.3% more expensive than in the U.S., and Norway is third most expensive, where restaurant meals are 60.9% pricier.

That’s according to a recent report from Bayut, a Dubai-based property portal, which used data from Numbeo, a crowd-sourced global database of consumer prices, to determine where in the world restaurants are the most expensive — and the least.

Bayut referenced Numbeo’s 2019 Cost of Living Index, where the U.S. was used as the baseline (set to 0%). Therefore, the index for each country represents where it stands relative to the U.S.

Source: Bayut

This study also determined which countries have the lowest restaurant prices when compared to the U.S.:

Tunisia: Dining out costs 80.8% less Pakistan: 77.8% less Algeria: 76.4% less India: 75.3% less Sri Lanka: 75% less

Additionally, nations with restaurant prices similar to those in the U.S. are:


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: anna hecht
Keywords: news, cnbc, companies, index, world, youre, used, countries, expensive, prices, trip, cost, ustunisia, restaurant, ussource, planning, dine


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