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Month: January 2026

Inequality and unease are rising as elite Davos event opens with pro-business Trump set to attend

Inequality and unease are rising as elite Davos event opens with pro-business Trump set to attend

By JAMEY KEATEN

DAVOS, Switzerland (AP) — Corporate chiefs and government leaders including U.S. President Donald Trump swarm into Davos, Switzerland, this week, joining an elite annual meeting that promotes dialogue and economic progress — even as a domineering tone from Washington has upended the global order and billionaires have reaped trillions in new wealth as the poor lag behind.

The World Economic Forum, the think tank whose four-day annual meeting opens Tuesday, has a stated motto of “improving the state of the world,” and this year’s theme is “A spirit of dialogue.” One question is whether Trump will speak with attendees — or at them.

Nearly 3,000 attendees from the interlinked worlds of business, advocacy and policy will tackle issues including the growing gap between rich and poor; AI’s impact on jobs; concerns about geo-economic conflict; tariffs that have rocked longstanding trade relationships; and an erosion of trust between communities and countries.

“It’s really going to be a discussion at a very important moment … geopolitics is changing,” said Mirek Dušek, a forum managing director in charge of programming. “Some people think we’re in a transition. Some people think we’ve already entered a new era. But I think it’s undeniable that you are seeing a more competitive, more contested landscape.” read more

What to know about the annual World Economic Forum meeting in Davos

What to know about the annual World Economic Forum meeting in Davos

DAVOS, Switzerland (AP) — Nearly 3,000 high-level participants from business, government and beyond plus untold numbers of activists, journalists and outside observers are converging in the Swiss town of Davos for the World Economic Forum’s annual meeting.

Here’s a look at the latest edition of the elite affair in the Alpine snows:

The WEF and Davos

The forum is a think tank and event organizer based in Geneva whose main event — the annual meeting — debuted in 1971 in Davos, a ski-resort town of about 10,000 people at a height of about 1,500 meters (nearly 5,000 feet) in the Alps of eastern Switzerland.

The first edition, hosted by forum founder Klaus Schwab, featured a gathering of business executives.

Since then, the meeting has swelled into a catch-all conference on issues as diverse as economic disparity, climate change, technology, and global cooperation — as well as competition and conflict.

More than 200 sessions will tackle a wide array of issues.

Who’s going?

Organizers says a record of nearly 400 top political leaders, including more than 60 heads of state and government, and nearly 850 chairs and chief executives of many of the world’s leading companies. read more

What’s open and closed on Martin Luther King Jr. Day

What’s open and closed on Martin Luther King Jr. Day

By The Associated Press

Government offices, the stock market and many schools are closed Monday in observance of Martin Luther King Jr. Day, but most businesses are open.

National Parks are still open on MLK Day although they are no longer free this year after President Donald Trump made a change in the two days that will be free this year.

When in doubt, call ahead or look up more specific schedules online for stores in your neighborhood.

Here’s a rundown of what’s open and closed on Martin Luther King Jr. Day, 2026:

Government offices

MLK Day is an official holiday honoring the civil rights leader’s birthday and legacy, so federal and state government offices are closed. Courts and most schools are also closed.

Banks and the stock market

U.S. stock markets and banks are closed Monday but will reopen on Tuesday.

National and state parks

Last month, the National Park Service announced it will no longer offer free admission to parks on King Day and Juneteenth, but instead on Flag Day and Trump’s birthday.

But California Gov. Gavin Newsom defied Trump and ordered more than 200 state parks to offer free admission on Monday. read more

US futures sink after Trump warns of higher tariffs for 8 countries over Greenland issue

US futures sink after Trump warns of higher tariffs for 8 countries over Greenland issue

By ELAINE KURTENBACH, AP Business Writer

BANGKOK (AP) — European shares mostly fell and U.S. stock futures skidded Monday after U.S. President Donald Trump threatened to slap a 10% extra tariff on imports from eight European countries because they oppose having America take control of Greenland.

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Germany’s DAX lost 1.3% to close at 24,960.33 and the CAC 40 in Paris fell 1.9% to 8,101.96. Britain’s FTSE 100 declined 0.4% to 10,190.26.

Among U.S stock futures, the S&P 500 was down 1% as of 11:48 a.m. Eastern Time, while the Dow Jones Industrial Average was down 0.8% and the Nasdaq composite was down 1.2%. U.S. stock markets are closed Monday in observance of Martin Luther King Jr. Day. read more

IMF upgrades outlook for surprisingly resilient world economy to 3.3% growth this year

IMF upgrades outlook for surprisingly resilient world economy to 3.3% growth this year

By PAUL WISEMAN, Associated Press Economics Writer

WASHINGTON (AP) — An unexpectedly sturdy world economy is likely to shrug off President Donald Trump’s protectionist trade policies this year, thanks partly to a surge of investment in artificial intelligence in North America and Asia, the International Monetary Fund said in a report out Monday.

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The 191-nation lending organization expects that global growth will come in at 3.3% this year, same as in 2025 but up from from the 3.1% it had forecast for 2026 back in October.

The world economy “continues to show notable resilience despite significant US-led trade disruptions and heightened uncertainty,” IMF chief economist Pierre-Olivier Gourinchas and his colleague Tobias Adrian wrote in a blog post accompanying the latest update to the fund’s World Economic Outlook. read more