› News for February 5.

News for February 5.

Jack Ma: ‘technology revolution might cause third world war’.

Alibaba corporation founder warns that impetuous technical progress inescapably entails global military conflict. At the same time, the innovations growth opens new trade routes and accelerates the globalization progress, which is, according to Ma’s opinion, an absolute plus.

Jack Ma told about a probable third world war during a session of World’s Economic Forum in Davos. “The First World War was the result of the technological revolution. The second technological breakthrough caused the WWII”, Alibaba founder pointed.

The businessman underlined that he supports the innovative growth as the leader of the tech company and he believes that new developments will be useful to the society, creating new jobs. But historic regularities should not be ignored.

“Any new technology concerns on early stage. We’re worried about a thought that if not controlled, a new technology might cause troubles”, - South China Morning Post quoted the Chinese billionaire’s words.

The owner of capital worth $38 billion had expressed his support of free trade and globalization process. He noted that exactly the integration process lifted the rapid economic expansion in China. Smartphones contributed to the process of erasing borders. “People have got the opportunity to buy, sell, deliver, pay and travel in global scale”, - Ma noticed.

“Many think that they are not included into the global paradigm but this problem will be solved with time, whereas developing countries and small businesses join the process. 60 thousand companies were controlling the market in the last 20 years but that number will increase by a thousand times soon - primarily due to small companies”, Ma considers.

The businessman also supported free trade zones creation for small companies. So, any trade deals for a total amount of less than $1 million should not be taxed. Alibaba is developing global trade platform (eWTP) together with the World Trade Organization. The service allows implementing deals for the total amount less than $1 million. Jack Ma considers the U.S.-China trade war as an obstruction for global growth. The billionaire used to warn that the conflict might be stretched out for 20 years. “The trade does not have to become a weapon, you cannot use it for a war purpose, it has to be the driver for peace”, - Jack Ma added.

Maduro declared that Venezuela will keep selling oil to the United States.

According to the President, Caracas destroyed diplomatic relationship only.

Venezuela will keep selling oil which is desperately needed by the United States, the country’s president Nicolas Maduro stated on a press conference on Friday. Maduro underlined that he stopped the relationship with Washington in the field of politics and diplomacy only. However, Venezuela will keep connections with people, universities, social movements and commercial sector in the USA.

He underlined that all of the action made by the U.S. in order to change the power in Venezuela only hurt the opposition without any significant success to be made. The US Secretary of State recommended its citizens to leave the country. Huan Guaido, Parliament Speaker declared himself as a temporary President last week. SUch countries as USA, Canada and ten Latin American countries agreed to recognize him as the new President of Venezuela. Although, Maduro refused to leave his current position, so this country has two presidents now.

Pfizer profit and revenue forecast for 2019 failed to meet the expectations.

American medicine manufacturer Pfizer (NYSE: PFE) Inc forecasted profits in 2019 in a much lower level than the Wall Street expected due to the loss of licence for medicine Lyrica, which caused the company shares to drop by 2%.

The company announced that the revenue in 2019 will meet the market expectations in the range of $52 billion to $54 billion, whereas analysts predicted that figure around $54.25 billion, according to Refinity IBES data. QUarter sales of Lyrica were at the average level of $1.32 billion with a consensus of $1.21 billion, according to Credit Suisse.

Pfizer analysts also adjusted the yearly forecast in 2019. The figure is in the range of $2.82 to $2.92 per share, which is lower than the previous forecast of $3.04 per share. Pfizer made a profit of $0.64 per share in the fourth quarter excluding initial balance spendings, beating the average forecast of $0.63 per share. The revenue grew by 2% to $13.98 billion.

Credit Suisse
Source: Business Insider

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