U.S. President Donald Trump wants to make a deal in the Middle East and that could become a reality if he is reelected, according to a Dubai property magnate. “I think there is a good chance of peace happening, a deal happening in the second term of Trump if he gets elected.” “I genuinely think he wants to make a deal,” Sajwani said at the World Economic Forum in Davos, Switzerland. “I think if Trump gets elected for a second term, he will make a deal.” I think Iran is going to take a long time

DAVOS, Switzerland –The Patriotic Millionaires, a group of wealthy people who support hiking taxes on the rich, are taking their message global at the World Economic Forum. In a letter the group plans to release Wednesday, the Patriotic Millionaires will urge international tax reform. The Patriotic Millionaires was founded in 2010 and is chaired by former BlackRock executive Morris Pearl. The global corporate tax has essentially halved in the past 35 years. While Shalchi said he’s supportive of

The European Union has “no choice” but to negotiate a new trade deal with the U.S., President Donald Trump told CNBC on Wednesday. Amid ongoing informal discussions, Trump has threatened to slap tariffs on European cars in a bid to strong-arm EU leaders. In yesterday’s meeting, he claimed to have told von der Leyen that absent a trade deal, he would need to “take action” in the form of “very high tariffs on their cars and other things.” President Donald Trump speaks during a CNBC Exclusive inter

BP CEO Bob Dudley on stepping down as CEO, sustainable investing and moreBob Dudley, CEO of BP, joins “Squawk Box” at the World Economic Forum in Davos to discuss the the energy market, sustainable investing, his decision to step down as CEO and more.

The chemicals, resistant to breaking down in the environment, are known as perfluoroalkyl substances, or PFAS. The contamination of U.S. drinking water with man-made “forever chemicals” is far worse than previously estimated with some of the highest levels found in Miami, Philadelphia and New Orleans, said a report on Wednesday by an environmental watchdog group. “It’s nearly impossible to avoid contaminated drinking water from these chemicals,” said David Andrews, a senior scientist at EWG and

President Donald Trump, in a CNBC interview Wednesday, stepped up his pressure over Apple’s refusal to unlock iPhones for authorities in criminal cases. And I’m very strong on it,” Trump told “Squawk Box” co-host Joe Kernen from the World Economic Forum in Davos, Switzerland. Trump told CNBC he’s helped Apple a lot. Trump told CNBC on Wednesday: “They could have given us that information. “You’re dealing with drug lords and you’re dealing with terrorists, and if you’re dealing with murderers, I

President Donald Trump told CNBC on Wednesday that Elon Musk is one of the world’s “great geniuses,” he likened the CEO of Tesla and SpaceX to Thomas Edison. Musk is “one of our great geniuses, and we have to protect our genius,” Trump said in an interview with “Squawk Box” co-host Joe Kernen from the World Economic Forum in Davos, Switzerland. In a 2008 interview, Musk said Edison and Nikola Tesla, for whom he named his electric auto company, were both role models, but he preferred Edison. Tesl

Johnson & Johnson’s fiscal fourth-quarter profit beat Wall Street’s expectations but missed slightly on revenue, the company said Wednesday. J&J’s pharmaceutical business posted revenue of $10.54 billion, a 3.5% increase year over year. The company’s consumer unit, which makes beauty products such as Neutrogena, increased 0.9% to $3.5 billion. J&J’s medical device unit reported revenue of $6.63 billion, down half a percent from last year. The company sees 2020 earnings between $8.95 per share an

U.S. Treasury Secretary Steven Mnuchin rejected warnings that the U.S.-China trade war could create a “digital Berlin Wall” on Wednesday, speaking at a CNBC panel during the World Economic in Davos, Switzerland. Asked about the risk — first flagged last year by International Monetary Fund Managing Director Kristalina Georgieva, also speaking on the panel — Mnuchin replied, “No, I discard that. He added that “it’s not a Berlin Wall at all — it’s we want other people to take down the Berlin walls.

President Donald Trump told CNBC on Wednesday that he trusts the information coming out of China on the coronavirus as the Centers for Disease Control and Prevention confirms the first case of it in the United States. “We have it totally under control,” Trump told “Squawk Box” co-host Joe Kernen in an interview from the World Economic Forum in Davos, Switzerland. “It’s one person coming in from China. We have it under control. The CDC on Tuesday said a Snohomish County, Washington state, residen

Total application volume fell 1.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications to refinance a home loan fell 2% for the week, but were 116% higher than a year ago. Last year, the average rate on the 30-year fixed was 88 basis points higher. “Refinance applications remained near the highest level since October 2019, as the 30-year fixed rate was unchanged at 3.87 percent, while the 15-year fixed rate decreased to its lo

President Donald Trump on Wednesday said that the U.S. economy’s GDP growth would have been closer to 4% if it weren’t for the lingering effect of Federal Reserve rate hikes. We had things happen that are very unusual to happen,” Trump told CNBC’s Joe Kernen in an interview from the World Economic Forum in Davos, Switzerland. “Now, with all of that, had we not done the big raise on interest, I think we would have been close to 4%,” Trump said. “And I – I could see 5,000 to 10,000 points more on

President Donald Trump on Wednesday called Boeing a “big disappointment” after the manufacturer pushed back when it expects its beleaguered 737 Max to return to service after two fatal crashes. “Very disappointing company,” Trump told CNBC’s Joe Kernen in an interview when asked about Boeing’s new timeline. The crisis over the planes, which regulators grounded in March after two nearly new Boeing 737 Max jetliners crashed within five months, has already cost thousands of jobs. Boeing reiterated

PRESIDENT TRUMP: –I really don’t know. ‘Cause it– a lotta people don’t think it’s a great thing, and it hasn’t worked well in other places. JOE KERNEN: –as– I– heard this was just going to be–PRESIDENT TRUMP: FarmsJOE KERNEN: –ag guysPRESIDENT TRUMP: Yeah. You’re– friends—with TimPRESIDENT TRUMP: I am–JOE KERNEN: –I– think youPRESIDENT TRUMP: I like them a lot. He’s getting a lot of flackPRESIDENT TRUMP: I’d rather him just do whatever he’s going to do.

Silvio De Sousa #22 of the Kansas Jayhawks picks up a chair during a brawl as the game against the Kansas State Wildcats ends at Allen Fieldhouse on January 21, 2020 in Lawrence, Kansas. Third-ranked Kansas and Kansas State ended their bitter showdown Tuesday night withthat included punches, shoving and at least one player threatening to swing a stool. Kansas State shot technical free throws to booing from a few thousand fans, and the one make necessitated a change to the final box score. And wh

The U.S. Senate plunged into President Donald Trump’s impeachment trial with Republicans abruptly abandoning plans to cram opening arguments into two days but solidly rejecting Democratic demands for more witnesses to expose Trump’s “trifecta” of offenses. But it ended near 2 a.m. Wednesday with Republicans easily approving the new trial rules largely on their terms. After one particularly bitter exchange, Roberts intervened, taking the rare step of admonishing both the Democratic House managers

U.S. stock index futures futures bounced Wednesday as investors monitor a range of corporate earnings, along with developments concerning the spread of a deadly virus in China. At around 5:00 a.m. ET, Dow futures rose 77 points and indicated an implied positive open of more than 99 points. Futures on the S&P 500 and Nasdaq were also higher. China on Wednesday unveiled measures to rein in the deadly Wuhan coronavirus, tempering fears of a global pandemic which sent markets tumbling on Tuesday.

U.S. government debt prices were lower on Wednesday morning as investors flocked back into risk assets, after China unveiled measures to rein in the spread of a deadly virus . ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.7778%, while the yield on the 30-year Treasury bond rose to 2.2351%. The outbreak of a new strain of coronavirus in China’s Wuhan region sent Treasury yields to a two-week low on Tuesday, with experts calling back t

Consumption, healthcare and technology are three sector picks for investing in China, said CITIC Capital’s top executive on Tuesday. “For us, the top priority … is still on consumption, because it’s still growing at a higher rate than GDP growth,” said Zhang Yichen, chairman and CEO at CITIC Capital, the flagship investment arm of Chinese state-owned conglomerate CITIC Group. Another potential area for investment is technology services due to the potential decoupling with the U.S. in that area

The Sainsbury’s logo stands above the entrance to the J Sainsbury Plc flagship store in London, U.K.Mike Coupe will step down as CEO of Sainsbury’s at the end of May after six years at the helm, with Britain’s second-largest supermarket group opting for continuity by choosing retail and operations director Simon Roberts as his successor. Coupe has faced questions about his future since April when Britain’s competition regulator blocked Sainsbury’s attempt to take over Walmart-owned rival Asda fo