MIAMI, Feb. 24, 2024 /PRNewswire/ — Future Investment Initiative (FII) Institute’s FII PRIORITY investor summit concluded on Friday, having explored a range of issues of global significance. The summit, entitled ‘On the Edge of a New Frontier,’ reflects the profound changes the world is experiencing as technology transforms society and economies.

Investors from the U.S. and around the world gathered with CEOs of major global corporations and policy experts to seek practical impactful solutions to issues such as the regulation of AI.

In his closing remarks, Richard Attias, CEO of FII Institute, said: “The time for action is now. More than 1000 leaders from finance, business and government attended this week’s summit in Miami, and all agreed that the world faces urgent challenges. Foremost amongst these challenges is the need for concerted, coordinated action, involving not just national governments but international organizations. That’s why summits such as this are so important as humankind grapples with huge issues that span borders, cultures, and will impact the generations to come.”

The second day featured a special breakfast session on how the 2024 U.S. election will impact the global economy. Joining Matteo Renzi, Senator of the Italian Republic and Former Prime Minister, were Mike Pompeo, 70th Secretary of State of the United States and Executive Chairman, lImpact Investments; Patrick Zhong, M31 Capital; Magda Wierzycka, Sygnia Ltd; Henadi Al Saleh, Agility; Macelo Claure, Claure Group; and Don Peebles, The Peebles Corporation. The session, moderated by Shannon K. O’Neil, Council on Foreign Relations, also covered the intersection of geopolitics and investment, noting the interconnectedness of both and their ability to impact the global outlook on economy and international cooperation.

In a candid, cross-generational discussion about the future of business, David M. Rubenstein, Co-Founder & Co-Chairman of Carlyle, and daughter Gabrielle Rubenstein, Co-Founder & Managing Partner of Manna Tree, shared their insights on several issues. The conversation underscored the evolving landscape of investment, highlighting the robust nature of private equity, and the importance of experiential branding.

With new technology reshaping the nexus between business and security, Cecilia Attias, Senior Vice-President of Public Affairs at RA&A, and Founder & President of Cecilia Attias Foundation for Women, discussed how to harness technology for security and stability with Palantir Co-Founder Dr. Alex Karp. The conversation covered the relationship between technology and ethics, highlighting the pivotal role of software in shaping society, and called for a balanced approach to privacy and security.

In keeping with Miami’s DNA, the summit also featured a number of panels dedicated to entertainment and sport, with actors Gwyneth Paltrow and Rob Lowe participating in the summit. Lowe, who is President of Lowe Profile Productions, and Co-Founder, Chairman & CEO Of Eldridge Industries Todd Boehly, engaged in a conversation about technology and the future of film and TV. Lowe noted that “consolidation is coming, and perhaps even bundling, but the important thing will always be the creatives. We’ve been telling stories since we sat by the campfire and we’ll be telling them when we’re orbiting the Earth.”

FII PRIORITY Miami also hosted a sports-focussed summit, which featured a session on the impact of the influx in new funding streams and how they redefine the entire sports ecosystem. Speakers in the session included Gerry Cardinale, Founder, Managing Partner & CIO at RedBird Capital Partners, former football star Larry Fitzgerald, Jr., Co-Founder of Trenches Capital, Sam Kennedy President & CEO Fenway Sports Group, owner of the Miami Dolphins and Chairman & Founder of The Related Companies Stephen Ross.

FII PRIORITY Summit Miami continues conversations held in Hong Kong and Riyadh in fall (autumn) 2023.  It is part of an ongoing global programme of summits held throughout the year, with summits coming up in Rio de Janeiro in June and Riyadh in October.

Notes to Editor

For media inquiries, please contact:

Phone: +966 53 978 2030

Email: Media@fii-institute.org

The Future Investment Initiative (FII) Institute is a global non-profit foundation driven by data with an investment arm and one agenda: Impact on Humanity. Global and inclusive, we foster great minds from around the world and turn ideas into real-world solutions in four critical areas: Artificial Intelligence (AI) & Robotics, Education, Healthcare and Sustainability.

The FII PRIORITY Miami summit continues conversations held in Hong Kong and Riyadh in Autumn 2023. It is part of an ongoing global program of summits held throughout the year, with upcoming summits in Rio de Janeiro in June and Asia later in the year.

SOURCE Future Investment Initiative Institute

Cautious Trading as Investors Eye Earnings, BoJ Considering Rate Hike

By Craig Erlam, Senior Market Analyst, UK & EMEA, OANDA

Stock markets are trading a little in the red on Tuesday, with investors eyeing earnings results – including Netflix – after the close and the result from the Republican presidential primary.

Equities are trading at record highs again and now it’s down to the numbers to justify them. The focus in the opening weeks of the year has been on economic figures, most notably those that will influence when central banks can start cutting rates and how fast, and now corporate results are coming under the microscope. So far, investors seem pretty content.

BoJ signals a rate hike may not be far away

The Bank of Japan opted to leave interest rates and its yield curve control policy unchanged today, indicating a decision on negative rates may come at one of the upcoming meetings.

It was always likely that no decision would be taken today as the central bank awaits the outcome of the spring wage negotiations due to take place in the coming months. For this reason, March, even April, may also come too soon and the central bank did suggest that the first move won’t necessarily come alongside new economic forecasts.

Wage negotiations will ultimately be the driving force as they will give the clearest indication of whether price pressures are filtering through to the economy in a sustainable way that will deliver 2% inflation over the medium term. After that, it becomes a question of to what extent that is occurring and how much action the BoJ will need to take in response. After decades of low to negative inflation, we probably shouldn’t expect this to be a quick process.

With the yen now rapidly falling again, does this open the door to further FX interventions from the Japanese Ministry of Finance or will it tolerate the moves on the basis that the wage negotiations may enable a more organic correction in the currency? That may well depend on just how much pain it must endure in the interim.

Choppy oil trading amid uncertainty

Oil prices are relatively flat after trading lower earlier in the session. Crude remains in consolidation with the picture still quite unclear on the economy, interest rates, OPEC+, and the Middle East. We may continue to see choppy trading, as we have in recent weeks until we get more clarity.

Traders still bullish on interest rates

Gold continues to trade above $2,000 despite traders paring back expectations for interest rate cuts this year. We’re still seeing quite bullish positioning from the markets but we’ve certainly seen it soften a little. A break of this key pyschological zone could suggest investors have become fearful about rates and how slowly they’ll come back down.

Bitcoin extends losses below $40,000

Bitcoin is trading around 2% lower on Tuesday, adding to losses at the start of the week and taking the price below $40,000.The move takes the decline since peaking shortly after the SEC approved spot bitcoin ETFs to more than 20% in what appears to be another case of the rumor being heavily bought and the fact sold. 

That’s not particularly important in the longer term and we’re used to this kind of volatility in the space. What matters now is what’s coming next that could generate excitement around cryptos and deliver further gains. The halving event in a few months could be that but it may take something more and skeptics could argue that’s already been priced in at this stage.

For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/


Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA, OANDA