The Latest: Soros denounces Trump 'mafia state'
The Latest on the World Economic Forum in Davos, Switzerland (all times local):
George Soros, the billionaire businessman-turned-philanthropist, says he believes President Donald Trump wants to create a "mafia state" in the U.S. — but can't because of the strength of the country's underlying institutions. He didn't elaborate on what he meant.
At a dinner he hosted on the sidelines of the World Economic Forum in Davos, Switzerland, Soros also predicted that Trump would be a "temporary phenomenon" and would lose in the 2020 election if he got that far.
Soros has been a consistent critic of Trump who is also in Davos, the first U.S. president to attend since Bill Clinton in 2000. Trump is due to address delegates Friday.
Israel's prime minister is suggesting a "new model" for peace with the Palestinians that would allow them to govern themselves but maintain Israeli control over security.
Speaking at a discussion at the World Economic Forum in Davos, Switzerland, on Thursday, Benjamin Netanyahu declined to endorse a "two-state solution" favored by the Palestinians and most of the international community.
Netanyahu said he wanted to avoid labels, but said the Palestinians can have "the whole trappings" of self-governance, while Israel should maintain responsibility for security in the region.
The Palestinians, who already have limited autonomy in parts of the West Bank, are unlikely to accept such a proposal. They seek all of the West Bank, east Jerusalem and Gaza for an independent state.
The Trump administration is expected to present a peace proposal to the sides that could hew closely to Israeli positions. The Palestinians have pre-emptively rejected any proposal amid concerns it would fall far below their hopes for an independent state.
Israel's prime minister says President Donald Trump has offered a "refreshing point of view" by threatening to withhold aid money to the Palestinians unless they resume negotiations with Israel.
Trump said earlier Thursday at the World Economic Forum in Davos, Switzerland, that the Palestinians must return to peace talks to receive U.S. aid money.
In a discussion at the economic summit, Benjamin Netanyahu said the international community has "pampered" the Palestinians. He said that Trump's position intends to have the Palestinians "enter the room and negotiate peace." Netanyahu also said "there is no substitute" to the United States as Mideast peace broker.
The Palestinians rejected the U.S. as an honest peace facilitator after Trump recognized Jerusalem as Israel's capital last year. They called Trump's remarks on aid money "unacceptable."
President Donald Trump says his visit to the World Economic Forum in Davos, Switzerland, is already proving "very successful."
He told reporters on his way between meetings that "we are seeing tremendous investment and today has been a very exciting day, a very great day and great for our country."
Trump is the first U.S. president to come to the forum in Davos since Bill Clinton in 2000. He met Thursday with the leaders of Britain and Israel, Theresa May and Benjamin Netanyahu, and was due to give a speech to the forum on Friday.
Later on Thursday he was due to hold a reception with CEOs and other global executives.
The British government says U.S. President Donald Trump is expected to visit the U.K. this year.
Prime Minister Theresa May met Trump at the World Economic Forum in Davos, Switzerland, on Thursday. Her office says the two leaders asked their officials "to work together on finalizing the details of a visit by the President to the U.K. later this year."
A year has passed since May invited Trump to pay a state visit to Britain as a guest of Queen Elizabeth II. Opponents have vowed to stage large protests if he comes, and no date has yet been announced.
The president recently said he would not come on a more low-key working visit to open the new U.S. Embassy in London because he did not approve of the location or the cost of the building.
The Palestinians say President Donald Trump's threat to hold back aid unless they resume negotiations with Israel is "unacceptable."
Speaking alongside Israeli Prime Minister Benjamin Netanyahu at the World Economic Forum in Davos, Switzerland, Trump said the Palestinians must return to peace talks to receive U.S. aid money.
Nabil Abu Rdeneh, an aide to Palestinian President Mahmoud Abbas, said Wednesday that "this language of dictation is unacceptable." He said the Palestinians are "ready to engage in negotiations" and committed to a peace process "based on a Palestinian state with east Jerusalem as capital."
Trump's decision last year to recognize Jerusalem as Israel's capital angered the Palestinians and prompted them to reject the U.S. as an honest Mideast peace broker. Abu Rdeneh says Trump should "backtrack" on the Jerusalem declaration.
South Korea says there's mounting evidence that sanctions against North Korea are having an effect, with trade across the Chinese border with the north now virtually "frozen up."
The claim comes from South Korean foreign minister, Kang Kyung-Wha, who has been speaking to reporters on the fringes of the World Economic Forum in Davos, Switzerland.
Kang welcomed a new wave of diplomacy with North Korea, which includes the two Koreas jointly competing in certain events at next month's Winter Olympics, which the south is hosting. But the foreign minister emphasized that for sustained diplomatic progress to be made beyond the Olympics, North Korea needs to recognize its stance on nuclear weapons is "unacceptable " and has "to move away from that course …. find a different course and engage."
She said the south wants to see "some kind of a momentum" created as a result of the Olympic rapprochement, but warned "south-north relations cannot improve without some traction and advance on the nuclear front."
South Korea says it will refer a dispute with the U.S. administration of President Donald Trump over tariffs on solar panels and washing machines to the World Trade Organization.
But the country's foreign minister, Kang Kyung-Wha, said Thursday that while "disappointed" by the U.S. stance, it won't affect Seoul's wider security alliance with America.
Her comments came while speaking to reporters on the fringes of the World Economic Forum in Davos, Switzerland, where Trump arrived Thursday.
President Donald Trump says the Palestinians must return to peace talks with Israel to receive U.S. aid money.
Trump's decision last year to recognize Jerusalem as Israel's capital roiled Arab nations and led Palestinians to refuse to negotiate with the U.S. on grounds that America can no longer be an honest broker in the quest for peace. Palestinians claim east Jerusalem for their future capital.
Trump says U.S. aid to the Palestinians is "on the table" but they won't get it "unless they sit down and negotiate peace."
Trump commented as he opened a meeting with Israeli Prime Minister Benjamin Netanyahu during an economic summit in Davos, Switzerland.
Netanyahu praised Trump's decision to recognize Jerusalem as Israel's capital and to move the U.S. Embassy there from Tel Aviv.
President Donald Trump is trying to dispel the perception that he and British Prime Minister Theresa May don't get along.
Trump says he and May have a "really great relationship, although some people don't necessarily believe that." He said it was a "false rumor" and that he wanted to "correct it."
Trump and May met Thursday during the World Economic Forum in Davos.
May said the "special relationship" between the U.S. and the U.K. continues.
Trump and May last year traded criticism over Trump's retweets of a far-right group's anti-Muslim videos.
Trump also canceled a trip to London for the opening of a new U.S. embassy.
One way to get President Donald Trump to stop and talk at the World Economic Forum: wield a book about him.
On his way into the World Economic Forum, Trump stopped and talked for about ten seconds to one delegate who was brandishing a copy of "God and Donald Trump" by Stephen E. Strang. He then proceeded to hold the book aloft in his left hand.
Trump is the first U.S. president to attend the World Economic Forum since Bill Clinton back in 2000.
Trump is holding a series of meetings and is due to deliver a speech on Friday in which he will argue that what is good for the U.S. economy is beneficial for the global economy.
President Donald Trump says he's bringing a message of "peace and prosperity" to an annual economic summit in the Swiss Alps.
Trump arrived in Davos, Switzerland, on Thursday for his first appearance at the World Economic Forum.
As he arrived at the summit venue, Trump was asked how he likes Davos and replied that he thinks "it's great."
Asked about his message for the gathering of world leaders, business executives and celebrities, Trump said it's about "peace and prosperity."
Asked whether he would be supported at the forum, Trump said: "I already am. You take a look."
"We're very happy to be here," he said. "The United States is doing very well, and will continue to do well and tis will be a very exciting two days."
Trump's attendance at the annual gathering for free-trade-loving political and business elites has raised eyebrows, given Trump's protectionist leanings.
He is the first sitting U.S. president to attend the forum since Bill Clinton in 2000.
President Donald Trump and British Prime Minister Theresa May are meeting during a summit in Switzerland.
The leaders met Thursday during the World Economic Forum in Davos and were expected to discuss the conflict in Syria, U.S. efforts to revise the Iran nuclear deal and North Korea's nuclear threat.
Trump hosted May at the White House days after he took office in January 2017, but the relationship has been strained since then.
Trump recently canceled a trip to London for the opening of a new U.S. Embassy. Trump and May last year traded criticism over Trump's retweets of a far-right group's anti-Muslim videos.
Earlier Thursday, U.S. Treasury Secretary Steven Mnuchin (mih-NOO'-shin) said the U.S. stands ready to negotiate an "attractive" trade deal with Britain once it leaves the European Union.
Activists have hung a large banner reading "Trump not welcome!" on the side of a Swiss mountain to coincide with the arrival of the U.S. president.
Swiss group Campax said Thursday that even though the banner is on the side of a mountain near Sargans, well removed from Davos where Donald Trump's participating in the World Economic Forum, they hope it will come to his attention.
They say that "be it during a flyby through the valley here or through his daily television consumption" they want their message to reach the president.
They have a litany of complaints about Trump, saying he "stands for racism, Islamophobia, anti-Semitism, sexism, hostility towards women, warfare, denial of climate change, attacks on human rights and a policy that deepens poverty and inequality."
British Prime Minister Theresa May says some of the rhetoric in favor of free trade needs to be matched by action.
Addressing the World Economic Forum, May highlighted three shortfalls. She noted that commitments on steel need to be implemented, that aid donors need to meet targets and that the World Trade Organization must move faster in developing standards on services and e-commerce to keep pace with the changes in the world economy.
After her speech, May is due to hold a meeting with President Donald Trump, who has arrived in Davos.
Though Brexit is not set to be on the agenda, May will look to get relations with Trump back on track following a recent spat involving his promotion on Twitter of a U.K. far-right group. Trump recently cancelled a planned visit to open the new U.S. embassy in London.
May said Britain will continue to be a "global advocate" for free trade after it leaves the European Union.
With President Donald Trump having arrived in Davos, there's a growing sense of anticipation among the delegates at the World Economic Forum.
Trump, who is the first U.S. president to attend the summit since Bill Clinton in 2000, is due to hold meetings later with British Prime Minister Theresa May and Israeli Prime Minister Benjamin Netanyahu. He is due to give a speech on Friday.
Danish Prime Minister Lars Lokke Rasmussen said he hopes Trump can flesh out his "America First" platform to show that it doesn't preclude cooperation with the rest of the world on some of the world's big challenges.
He said: "I think everybody needs to realize, whether you are leader from a small or medium-sized or big country that you can't achieve what you want on your own."
And Dalia Grybauskaite, Lithuania's president, said "we need global solutions and there is no choice but to be together and not isolate each other."
Optimism about the global economy is widespread at this year's World Economic Forum.
But Christine Lagarde, the managing director of the International Monetary Fund, is warning about growing complacency now that the global economy is powering ahead, ten years after the global financial crisis.
She said the IMF thinks complacency is "one of the major risks" to the global outlook. She urged policymakers around the world to not start scrapping many of the regulations that were put in place after the crisis, notably with regard to the banking sector, the primary source of the difficulties a decade ago.
Earlier this week, the IMF upgraded its forecasts and is now expecting global growth of 3.9 percent, which would be the highest in seven years.
Philip Hammond, Britain's Treasury chief, says services — particularly finance — have to be part of any post-Brexit deal with the European Union.
Speaking at the World Economic Forum, Hammond said the only deal that "can ever get done is one that's fair to both parties and a deal which included goods but did not include services could never be fair. It could never be attractive to the U.K."
Britain is about to start discussions on its future relationship with the EU after Brexit in March 2019. Hammond said he hopes that a transition deal that will see Britain abiding by EU rules for a while after Brexit will be secured in March and that will provide "clarity" to investors and business.
Hammond warned that a failure to agree on a post-Brexit deal without financial services would be bad for the U.K. and for the EU.
Larry Fink, the chairman and CEO of investment firm Blackrock, thinks the dollar's recent weakness has more to do with the improving economic backdrop in places like Europe than any attempt by the U.S. government to talk its value down.
At a panel at the World Economic Forum, Fink said the dollar's fall over recent weeks is perfectly normal: "This is a normal course of markets and they adjust to new information."
He expects the dollar to start to rise again as the U.S. economy continues to grow strongly.
Fink also warned about trade becoming a "violent" issue and that there's nothing particularly protectionist about the U.S. trying to renegotiate trade deals going back decades.
A Revaluation of 70-year-old deals, he said, is "not anti-trade" and could actually become a "win-win" for all involved.
President Donald Trump has arrived in the Swiss Alps to attend the World Economic Forum.
Trump flew to the town of Davos by helicopter from Zurich, where he arrived Thursday morning after flying overnight from Washington.
The president is scheduled Thursday to hold talks with British Prime Minister Theresa May and Israeli Prime Minister Benjamin Netanyahu while the summit takes place. He's also scheduled to meet with the forum's founder, attend a reception and eat dinner with European business leaders.
Trump is the first sitting president to attend the annual summit since Bill Clinton in 2000.
U.S. Treasury Secretary Steven Mnuchin says the U.S. is ready to negotiate an "attractive" trade deal with Britain once the country has left the European Union.
At the World Economic Forum, Mnuchin said the U.S. is first looking to see a "successful transition that's good for the U.K., good for the markets."
The British government is about to begin discussions about the future relationship with the EU after Brexit. First it's looking to agree on a transition period after Brexit in March 2019 that make the exit less abrupt.
While within the EU, the U.K. cannot negotiate separate trade deals with other countries.
Mnuchin said that once the "U.K. is ready, we are prepared to negotiate an attractive trade deal."
He added that President Donald Trump has already said Britain will be at the "front of the line" in trade negotiations.
President Donald Trump's homeland security adviser says the United States would prefer that Turkish troops "remove themselves" from a conflict in the Syrian border town of Afrin, and appealed to President Recep Tayyip Erdogan to focus on "longer-term strategic goals" of a peaceable Syria.
Speaking at the World Economic Forum in Davos, Switzerland, before Trump's imminent arrival, Tom Bossert said Turkey "ought to be mindful of the potential for escalation as they move into Syria and Afrin."
The United States has previously expressed concerns about Turkish efforts against the Kurdish-led SDF forces that drove Islamic State fighters from much of northeastern Syria with the help of a U.S.-led coalition.
Bossert said Thursday it would be a "terrible outcome" if Turkish troops clashed with "the proxy forces that we have all been relying on to defeat ISIS, especially if there are U.S. advisers in the region."
He said: "There could be grave consequences to any miscalculation and escalation."
U.S. Treasury Secretary Steven Mnuchin says the U.S is "not concerned" about the value of the dollar in the short-term.
At a press briefing at the World Economic Forum on Thursday, Mnuchin said the short-term value of the dollar is dependent on many factors in what is a very liquid market.
In the longer-term, he said, the U.S. currency's value will be determined by the underlying strength of the U.S. economy.
On Wednesday, Mnuchin sparked a big dollar sell-off when he said the recent fall in the value of the dollar was "good" for trade. The euro, for example, spiked to a three-year high.
Mnuchin insisted Thursday that his comment on the dollar was "balanced and consistent."
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