World Economic Forum

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Oxfam: 42 People Now Have as Much as World's Poorest 3.7B

82% of wealth generated in 2017 went to 1%

(Newser) - Last year was another bumper year for the very richest people in the world and another step backward for billions of others, according to Oxfam's annual report on inequality ahead of the World Economic Forum in Davos. The report estimates that the lowest-income 50% of the world, or around... More »

Extreme Weather Seen as Major 2018 Risk

World Economic Forum ranks them ahead of global forum

(Newser) - Humans are "pushing systems to the brink, from extinction-level rates of biodiversity loss to mounting concerns about the possibility of new wars," according to the World Economic Forum . On the upside, a stronger economic outlook means global leaders will have "a golden opportunity" to address some of... More »

Only One Country Beat US for Most Competitive Economy

Switzerland is No. 1 in World Economic Forum ranking

(Newser) - One of Donald Trump's platforms during the presidential campaign was to "restore America's competitive edge," but the US might not be doing so shabby after all. Quartz , which features the World Economic Forum's new Global Competitiveness Report , notes that the United States has actually ascended... More »

The Vacation Nation You'll Want Tickets For

Spain tops World Economic Forum's list of top countries for tourists

(Newser) - "Siestas before sangrias" is all we need to hear to get us to visit Spain, a perk noted by Travel + Leisure , but that's not the only reason it's at the top of the World Economic Forum's 2017 ranking of the best countries for tourism and... More »

Alibaba Founder: US Spent $14T on the Wrong Thing

'You're supposed to spend money on your own people,' not war, Jack Ma said

(Newser) - Tempted to blame China for your economic woes, America? Take a look in the mirror instead. That was the message of Alibaba founder Jack Ma Wednesday at the World Economic Forum in Davos, Switzerland, where he wagged a finger at the US for blowing $14 trillion on war efforts over... More »

8 Men Are as Rich as World's Poorest 3.6B

Oxfam calls for crackdown on tax-dodging

(Newser) - A group of people that could fit into a minivan is richer than enough of the world's population to fill nearly 50 million school buses, according to Oxfam's latest shocking report on world inequality. Eight extremely wealthy men, six of them American, have as much wealth as the... More »

Billionaire Tells Rest of Us to Live More Modestly

Jeff Greene currently has a $195M estate on the market

(Newser) - Jeff Greene describes the $195 million price tag of a 23-bathroom Beverly Hills estate he's spent seven years building—and has now put on the market—as "quite reasonable." He lives in a 35,000-square-foot estate in Palm Beach, Fla., with its own private beach. And when... More »

By Next Year, Richest 1% to Own More Than Other 99%

Oxfam calls for 7-point plan to address inequality

(Newser) - The rich really are getting richer—and by 2016, they'll own more than the rest of the world, says a research paper published by anti-poverty charity Oxfam. The paper shows that global wealth owned by the richest 1% jumped from 44% in 2009 to 48% in 2014, putting this... More »

85 Richest People Have as Much Money as Poorest Half

And wealthiest 1% of population has 46% of world's wealth: Oxfam report

(Newser) - Here's a shocking detail from a new Oxfam report: The poorest half of the entire global population, comprised of 3.5 billion people, has as much money as the wealthiest 85 people around the world. How much is that, exactly? More than $1.6 trillion. And if you look... More »

The Global Elite Are Getting Worried—Finally

Unelected leaders must take some responsibility: David Frum

(Newser) - Today's global elite are "answering to constituents who grow more dissatisfied ... and information-rich," observes Ian Bremmer at the Huffington Post —and as they gather at Davos, they appear concerned about their "increasing vulnerability." That's a very good thing, notes David Frum: "Over... More »

Suu Kyi: Avoid 'Reckless Optimism'

Reflects on leaving Burma for first time in 24 years

(Newser) - There's hope for Burma, but it should be tempered with caution, said Aung San Suu Kyi during her first trip outside the country in 24 years. Speaking to the World Economic Forum in Bangkok, she called the optimism surrounding the recent changes seen in Burma "good," but... More »

Protesters Occupy Davos —in Igloos

Group set to protest World Economic Forum

(Newser) - The Occupy movement has hit Davos ahead of the World Economic Forum, and this time protesters aren't pitching mere tents in the frigid weather. Instead, they're building an igloo village near where the WEF is set to convene, the New York Times reports. The igloos are half as... More »

Davos Brimming With Optimism for 'New Reality'

But rising food prices, political uncertainty are cause for concern

(Newser) - The Davos World Economic Forum is an optimistic place this year—the theme is “Shared Norms for the New Reality,” meaning the post-financial-crisis reality. In a poll, 48% of the assembled CEOs said they were “very confident” of growth in the next 12 months, according to the... More »

Davos: Old Boys' Club Makes Firms Send Women

World Economic Forum imposes quota

(Newser) - Women are usually in short supply at the World Economic Forum, the business world’s annual getaway in Davos, Switzerland. And this year, organizers are doing something about it. They’ve demanded that at least one out of every five senior executives companies send to the event be a woman,... More »

When It Comes to Global Competitiveness, US Is ... 4th

Large deficits, bleak economic outlook to blame

(Newser) - Today is not a great day for US dominance : For the second year in a row we've taken a hit in the global competitiveness rankings, this time falling from second to fourth due largely to our government debt and weak economic outlook. In first place until two years ago, we've... More »

Goldman's Lloyd Blankfein 'Expecting $100M Bonus'

CEO 'thumbing his nose' at Obama's call to limit payouts

(Newser) - Goldman Sachs is preparing to defy President Obama's tough talk on executive bonuses and award chief executive Lloyd Blankfein a whopping $100 million, according to bankers at the World Economic Forum. "This is Lloyd thumbing his nose at Obama,” a banker at one of Goldman’s rivals tells... More »

Bill Gates Pledges $10B for Vaccines

Largest charitable donation ever aims to save 8M children's lives

(Newser) - Bill Gates upped the ante for charitable giving again today, pledging $10 billion dollars for the development of vaccines over the next decade. The semi-retired Microsoft founder aims to save the lives of as many as 8 million children under the age of 5 in the world's poorest countries, reports... More »

Bill and Vlad Pal Around Davos

Sec. of State's hubby wastes no time slipping into global role

(Newser) - With the ink barely dry on Hillary Clinton’s confirmation as secretary of state, her husband is already glad-handing on the world stage, holding meetings with foreign leaders at Davos that culminated with a 90-minute sit-down with Russian Prime Minister Vladimir Putin. At a private party, Putin toasted Clinton as... More »

Netanyahu Calls 'Fanatical' Iran World's Biggest Danger

(Newser) - Barack Obama may be making overtures to Iran, but Benjamin Netanyahu wants none of it. The front-runner in the race to become Israel's next prime minister said the global economic crisis pales in comparison with the threat of a nuclear Iran and its "pre-medieval view of the world,"... More »

UN Asks Davos for $613M in Gaza Aid

Funds would provide immediate aid, more money needed for long-term

(Newser) - The UN asked attendees at the Davos economic forum for $613 million to address “massive and multi-faceted” needs resulting from recent violence in Gaza, the BBC reports. Secretary-General Ban Ki-Moon says the funds will provide medical care and clean water for 6-9 months. As fresh violence heightened the need... More »

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