 |
|
|
|||||
The World Economic Forum, which runs an annual gathering of elites in Davos, Switzerland, says its board has given its unanimous support for an independent investigation into allegations of misconduct by founder Klaus Schwab.The statement from the Geneva-based think tank and event organizer late on Tuesday came after a report published in the Wall Street Journal cited a whistleblower letter alleging financial and ethical misconduct by Schwab, 87, and his wife Hilde.The newspaper reported that the allegations were sent in an anonymous letter to the board last week and included claims that the Schwab family mixed their personal affairs with Forum resources.In a statement sent to the Associated Press, the Forum said its boardwhich includes former U.S. Vice President Al Gore, Jordan’s Queen Rania, and European Central Bank President Christine Lagarde as membersagreed to a decision by its risk and audit committee to open the probe.“While the Forum takes these allegations seriously, it emphasizes that they remain unproven, and will await the outcome of the investigation to comment further,” the statement said.The AP was not immediately able to reach Schwab or a contact person for him.The allegations emerged two days after the WEF announced Schwab had retired “with immediate effect” as chairman, and that former Nestlé Chairman and CEO Peter Brabeck-Letmathe was taking over as interim chairman.For decades, the Forum’s annual gathering in Davos has hosted top business executives, government leaders, academics, international organizations, cultural figures, sports legends, and celebrities to discuss government policy, deal-making, and current affairs. Associated Press
Category:
E-Commerce
Global shares mostly rose Wednesday, with markets showing relief after President Donald Trump indicated he won’t dismiss the head of the U.S. Federal Reserve.France’s CAC 40 jumped 2.1% in early trading to 7,480.99, while Germany’s DAX rose 2.5% to 21,820.14. Britain’s FTSE 100 gained 1.6% to 8,461.24. U.S. shares were set to drift higher with Dow futures up 1.5% at 39,960.00. S&P 500 futures rose 2.0% to 5,421.75.In Asia, Japan’s benchmark Nikkei 225 gained 1.9% to finish at 34,868.63. Australia’s S&P/ASX 200 surged 1.3% to 7,920.50. South Korea’s Kospi gained 1.6% to 2,525.56. Hong Kong’s Hang Seng added 2.4% to 222,072.62, while the Shanghai Composite edged down 0.1% to 3,296.36.Trump had previously said he could fire Fed chair Jerome Powell after the Fed paused cuts to short-term interest rates. But Trump told reporters Tuesday, “I have no intention of firing him.”Investors were also cheered by comments from U.S. Treasury Secretary Scott Bessent in a Tuesday speech. He said the ongoing tariffs showdown with China is unsustainable and he expects a “de-escalation” in the trade war.“Of course, markets will continue to listen out for the latest White House rhetoric on tariffs and any hints of upcoming trade deals. As such, market direction will more likely than not continue to be dictated by Trump’s latest whims regarding tariffs and trade,” said Tim Waterer, chief market analyst at KCM Trade.The only prediction many Wall Street strategists are willing to make is that financial markets will likely continue to veer up and down as hopes rise and fall that Trump may negotiate deals with other countries to lower his tariffs. If no such deals come quickly enough, many investors expect the economy to fall into a recession.The International Monetary Fund on Tuesday slashed its forecast for global economic growth this year to 2.8%, down from 3.3%. A suite of better-than-expected profit reports from big U.S. companies, meanwhile, helped drive U.S. stocks higher.Also helping market sentiment was the announcement from Elon Musk that he will spend less time in Washington and more time running Tesla after his electric vehicle company reported a big drop in profits. Its results have been hurt by vandalism, widespread protests and calls for a consumer boycott amid a backlash to Musk’s oversight of cost-cutting efforts for the U.S. government.Tesla reported earnings after U.S. trading closed. Tesla’s quarterly profits fell from $1.39 billion to $409 million, far below analyst estimates.In energy trading, benchmark U.S. crude added 80 cents to $64.47 a barrel. Brent crude, the international standard added 81 cents to $68.25 a barrel.In currency trading, the U.S. dollar declined to 141.87 Japanese yen from 142.37 yen. The euro cost $1.1390, up from $1.1379. _AP Business Writer Stan Choe contributed. Yuri Kageyama, AP Business Writer
Category:
E-Commerce
Thanksgiving may not arrive until November, but you wouldnt know it from perusing Donald Trumps social media feeds. Hes been giving thanks quite a lot lately. Thank you for your attention to this matter! is how the president has been closing some of his recent online dispatches. Its a weirdly stiff expression. It carries the bureaucratic heft of an HR email about which snacks are now forbidden in the break room, or that of a lawyer signing off an email about a pressing document that wont e-sign itself. Given the source, though, it feels more like the boss reading all of America the riot act. At least 10 of Trumps Truth Social posts in the past two months have ended this way, alternately confounding and delighting those who come upon them. Hes deployed the idiom so much, in fact, and in such unusual contexts, its now found a second life as a viral meme and multipurpose catchphrase. me: *posts the longest, least-disciplined paragraph of rambling bullshit you have ever seen in your life* also me: "thank you for your attention to this matter"— e.w. niedermeyer (@niedermeyer.online) April 17, 2025 at 12:53 PM Based on the lack of respect you people have shown me, I am hereby raising the Tariff charge on my free mix videos to 125%, effective immediately.Thank you for your attention to this matter! pic.twitter.com/UHNoyDPZKW— DJ Mek (@DeeJayMek) April 10, 2025 Although Trumps fondness for the expression, abbreviated from here on out as TYFYATTM, goes back at least as far as a 2019 Twitter rant about China, hes only recently cemented it as a Trumpism. Theres no obvious rhyme or reason for which posts he chooses to grace with a TYFYATTM. Its popped up when Trump makes an announcement (like the extension of TikToks grace period to find a new buyer), when he makes an ultimatum (like the demand for an apology from Maine Governor Janet Mills, which went unrequited), and when he makes his scathing opinion known about a person, place, or thing (like he did most recently in an April 16 screed about Harvard). The purpose of “Thank you for your attention to this matter!” is open to interpretation, but there are hints in Trumps posts about what he might mean by it. Please let this notification serve to represent that the Department of Homeland Security, Border Patrol, and all other Law Enforcement Agencies within our Country have been so notified, he wrote in a Truth Social post in March about Venezuela, before adding a TYFYATTM. Perhaps the same disclaimer is implied for all other posts that end this way, a reminder that if Trump felt compelled to do so, he could cancel a companys contract via tweet, as he once did with Boeing. The cold formality of TYFYATTM seems meant to distinguish one of Trumps many daily dispatches as Official Business, something to be considered with utmost seriousness. It doesnt always get the job done. In one instance, Trump dropped a TYFYATTM after merely mentioning that hed had a conversation with Canadian PM Mark Carney, perhaps out of habit. (Although its certainly possible that Trumps team uses the strange phrase when posting on his behalf, now that its become a signature line.) TYFYATTM fuses together formality with urgency, conveying that something must be done! Whether he intends to or not, by addressing readers directly, Trump involves them. TYFYATTM brings them into breaking news, like when late-night talk show hosts precede a monologue joke with, Did you hear about this? Some readers might even feel deputized by the phraseeven if all they have to do is hate Harvard a little more than before. On the other hand, Trump may just understand that people like being thankedeven when they havent done anything. In any case, whether through marketing prowess or sheer force of will and repetition, Trump has quickly lodged his new catchphrase within the cultural vernacular. People on X and Bluesky have been using it as a goofy mock-signoff for decidedly unofficial proclamations. QUITE ENJOYED THIS BUILDINGS PROPORTIONS. THANK YOU FOR YOUR ATTENTION TO THIS MATTER! pic.twitter.com/BPDxcTC69j— Harry Wilkin$ (@hs_wilkins) April 10, 2025 Hard pass. Thank you for your attention to this matter.— Jen Jennings (@jenjennings.bsky.social) 2025-04-21T15:27:20.318Z My prices will continue to be whatever I feel like charging whenever I feel like charging it.Thank you for your attention in this matter.All hail The Queen of Rats.— Tengushee (@Tengushee) April 15, 2025 And of course, plenty of others have been using it just to mock the president outright. My understanding is that while we were not clear on OpSec over the weekend, we are now. Thank you for your attention to this matter.— Schnorkles O'Bork (@schnorkles.bsky.social) 2025-04-21T14:43:33.665Z [ the dumbest shit you've ever read in your life ] Thank you for your attention to this matter!— Ian Boudreau (@ianboudreau.com) 2025-04-16T17:29:16.132Z Thank you for your attention to this matter!— Mark Harris (@markharris.bsky.social) 2025-04-21T20:47:30.278Z During Trumps first term, he minted a Duolingo lessons worth of catchphrases on Twitter that were similarly mocked and imitated into ubiquity. Considering it is somehow still less than 100 days into round two, there are likely many such cases still to come. Unfortunately for Trump, he doesnt get any originality points for “Thank you for your attention to this matter!” Snarky expressions of gratitude invoking the president are kind of old hat by now. (Thanks, Obama!)
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||