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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 »

Host 2022 Olympics? Cities Say No Thanks

Costs make gig increasingly unappealing

(Newser) - The race is on for the 2022 Winter Olympics—the race to get out of hosting, that is. Four cities that were considering hosting, including two finalists for the job, have dropped out of the running. Four finalists remain, but only two of those bids look robust. Cities just don'... 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 »

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 »

Larry Summers Coins a Phrase

US experiencing a 'statistical recovery and a human recession'

(Newser) - The Wall Street Journal is taken with a phrase uttered by Larry Summers today at the Davos economic summit. The US is experiencing a "statistical recovery and a human recession," said the Obama economic adviser. The phrase "should resonate through much of the industrial world, where high... 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 »

Turkey PM Storms Off After Clash With Peres on Gaza

(Newser) - Turkey's prime minister stormed off a stage in Davos today during a heated exchange with Israeli President Shimon Peres over Gaza, the New York Times reports. “When it comes to killing, you know well how to kill," Recep Tayyip Erdogan told Peres before walking off, promising never to... 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 »

Snarling Putin Smacks Down Dell's Net Offer

Russia's Putin tells off Michael Dell

(Newser) - Russian leader Vladimir Putin fired a withering public broadside at computer tycoon Michael Dell at the World Economic Forum. When Dell offered to help expand the Internet in Russia, Putin snapped: "We don't need help. We are not invalids. We don't have limited mental capacity." More »

Russia, China Blame US for World's Mess

(Newser) - The leaders of Russia and China laid the blame for the world's financial troubles squarely at the feet of the US today, the Wall Street Journal reports. In speeches at the world economic forum in Davos, both focused on the role of the dollar, with Putin calling the world's over-reliance... More »

Female Perspective Sorely Lacking at Davos

Gender equality slow to scale the Alps forum—and everyone's the worse for it

(Newser) - Women may be the ticket out of the global recession, but World Economic Forum leaders wouldn’t know it. The predominantly male organizers have invited few women—5% of announced attendees—to the exclusive Davos forum, a misstep for a meeting billed “Shaping the Post-Crisis World,” Morice Mendoza... More »

Russia Scraps Plan for Nukes Near Europe

Moscow doesn't need missiles if US ditches own program in region

(Newser) - Russia will abandon its plans to deploy nuclear-capable missiles near Poland, the country's defense ministry said today. The Kremlin pulled back on the plan after President Obama announced a review of the Pentagon's controversial missile defense shield program in the region. The move offers an olive branch to Washington, says... More »

Paterson's Poll Numbers Tank After Debacle With Caroline

Guv cancels Davos trip to shore up support

(Newser) - New York Gov. David Paterson's poll numbers have hit the toilet as he grapples with a $15.8 billion deficit and reaction to his handling of the Caroline Kennedy Senate decision, reports the New York Daily News. The numbers have so spooked Paterson that he's decided to ditch his trip... More »

Wary of Image, Financial A-Listers Ditch Glitzy Davos

Top bankers, Obama advisers to skip Swiss summit

(Newser) - The swanky Davos economic summit was once a top destination for financial and economic power players, but many are skipping the glitz this year for fear of sending the wrong message in a tanking economic climate, Reuters reports. Treasury secretary-designate Timothy Geithner is sitting out the resort event, as are... More »

Superclass Exposes Global Elite . . .Sort Of

Ultra-powerful rule the world, author argues, and that's not all bad

(Newser) - What do Bill Clinton, Osama Bin Laden, and Bono have in common? All are members of the powerful global elite that’s reshaping the planet, David Rothkopf argues in his new book Superclass. But Rothkopf’s isn’t a conspiracy-laden indictment, writes Salon’s Laura Miller. Rather, he contends that... More »

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