New this morning from Davos: China’s leader defends globalism. Chinese President Xi Jinping said Tuesday morning that a trade war between the U.S. and his country wouldn’t benefit anyone. His address, the first by a Chinese leader in four decades, also calmed the nerves of environmental activists. Meanwhile, HP Enterprise CEO Meg Whitman called on business to replace jobs lost to technology. Sorkin: What to make of the ‘Davos Class’ in the Trump Era.
More skepticism about Davos’ role. WPP CEO Martin Sorrell said this morning that the global elites gathered at the World Economic Forum failed to predict the rise of Donald Trump. He also told CNBC that his holding company’s clients spent $90 million on Snapchat last year, three times what was predicted. Bloomberg: Can Snapchat’s culture of secrecy survive an IPO?
Polls show little confidence in Trump transition. New polls from CNN/ORC and The Washington Post/ABC News, both released Tuesday morning, show low approval marks for President-elect Donald Trump’s transition as he prepares to take the oath of office on Friday. More than 30 Democrats are planning to sit out the event after Trump’s spat with Rep. John Lewis (D-GA) this weekend.
Walmart, GM announce job-investment measures. General Motors is set to announce it will create or hold on to 1,000 jobs by investing $1 billion in its factories, fresh off its own back and forth with the president elect. Walmart also said it plans to create 10,000 jobs in the U.S. this year.
Today in Trump Twitter. Trump said he is planning to keep his personal Twitter account once he enters office, leaving experts scratching their heads about how he’ll use it alongside the official @POTUS account. He also tweeted at the wrong Ivanka, giving all kinds of unwanted attention to an English user of the platform instead of his daughter.
Long day in court for Samsung heir apparent. Lee Jae-yong was in a South Korean court again on Tuesday as a judge decides whether he should be arrested on bribery charges. Prosecutors have accused the executive of bribing the country’s now-impeached president in exchange for political favors.