WASHINGTON— A brutal winter, plunging investment by energy companies and a widening trade gap likely combined to shrink the U.S. economy at the start of the year. But the slump is expected to prove short-lived. So is a labor dispute that slowed trade at West Coast ports.» Read More
The US needs to change the way it is spending money if it wants to ensure a sustainable recovery, Joseph Stiglitz, economy professor at Columbia and a Nobel prize laureate, told CNBC Friday from Davos.
Bank of America does not need to raise fresh capital to comply with the new regulations shaping the financial world and the quality of its credit portfolios is getting better, CEO Brian Moynihan told CNBC.
Royal Dutch Shell is seeking to grow organically and sees demand for oil and gas rising over the next years, CEO Peter Voser told CNBC Friday in an interview from Davos.
Consumers are pinching pennies anywhere they can due to continued concern over the global economy , which for some means a willingness to cut services that aren't a necessity.
Shi Agassi, CEO and founder of A Better Place, is at Davos, promoting his company, which provides services for electric vehicles.
Dell founder Michael Dell said networking services to accommodate the wireless craze is now the company's strongest business.
Rep. Barney Frank (D-Mass.), co-author of the Dodd-Frank law, said legislative efforts succeeded in discouraging the "perverse incentive" of the past by prompting companies to provide "more compensation in stock.
At the World Economic Forum in Davos, CNBC held a keynote session asking if the rise of the East is assured and what that will mean for the jobs market in America and Europe.
Stock markets in the developed world have risen too much, Robert Shiller, economics professor at Yale, told CNBC Thursday.
China is not a friend of the US and should not have been praised during President Obama's State of the Union speech Tuesday, real estate magnate Donald Trump said.
Stephen Schwarzman, founder and CEO of the Blackstone Group, called the State-of-the-Union speech part of a welcome move to the center following the midterm elections.
The White House plan to partially freeze government spending is just "spare change" compared to a budget deficit of more than $1 trillion and eventually the US will have to raise taxes, economist Nouriel Roubini told CNBC Wednesday.
At least for this year, the euro zone will remain united and no country is likely to default, analysts told CNBC.com. But debt restructuring is on the horizon for later.
The surge in commodity prices has many worried about skyrocketing food prices at home. But a look at how much the increase in raw commodities actually makes it to the plate, at least in the United States, shows that it is unlikely by itself to cause widespread inflation.
Whether they be Japanese housewives or folks in India and Indonesia energy and food prices matter – big time.
"I'm very excited about this year’s meeting, particularly because it's two years after the financial crisis. And we're beginning to see some real stabilization in the economy. As we prepare for a lot of interviews and the various sessions, I will be thinking about what pockets of the world will be critical to global economic growth," says CNBC's Maria Bartiromo.
Government policymakers in Davos this week looking to revive growth might want to emulate global mutual-fund managers, who are having no trouble finding growth stories across the developing world and in pockets of developed markets.
Though the US-China relationship often dominates the geopolitical trade debate, Beijing is now the top trading partner for Japan, Australia and South Africa, as well as South Korea, Hong Kong and Taiwan.
Political and business leaders invited to the World Economic Forum's annual meeting in Davos this week will sift through the blessings and curses of global interdependence that not only brought the world’s economies to a collective low three years ago but also provide the only realistic return to prosperity
Global leadership in the sector is still fragmented—the U.S. China, Brazil and Israel can all lay claim in certain fields—but there's no doubt the sector’s center of gravity is moving slowly from the developed economies to the emerging markets.