At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.

Jamie Dimon’s comments follow JPMorgan’s decision late last year to drop a case filed against Tesla in 2021, which had sought $162.2 million plus fees over a dispute regarding stock warrant transactions.

Welcome to CNBC’s live blog covering all the latest news, views and action on day 3 of the World Economic Forum in Davos, Switzerland.

"We actually no longer call it EV. We call it EIV. 'I' stands for intelligent," Pan Jian, a cochair of CATL, told a WEF panel in Davos, Switzerland.

The value of Tesla’s brand dropped for a second straight year, according to research and consulting firm Brand Finance.

Jamie Dimon said that he and Elon Musk settled their differences. This seemingly concluded their row, sparked by a legal fight between JPMorgan and Tesla.

A change in the H-1B visa policy for highly skilled professionals from India under Trump 2.0 would be "fantastic" for the US as it needs them, American economist Kenneth Rogoff told NDTV at the World Economic Forum (WEF) meeting in Davos.

JPMorgan Chase CEO Jamie Dimon and Tesla chief Elon Musk, once adversaries in a prolonged legal battle, have settled their differences, the banker told CNBC in an interview on Wednesday.

The financial impacts of climate change are “just a totally different picture” than in the past, said Nicolai Tangen.

"Elon and I hugged it out," Dimon told CNBC in a TV interview at the World Economic Forum's annual event in Davos, Switzerland. "He came to one of our conferences, [and] he and I had a nice, long chat. We settled some of our differences."

Tesla shares rose about 3% before the bell on Thursday as plans to roll out cheaper electric vehicles and paid autonomous car services by the automaker that missed Wall expectations for fourth quarter lifted investor sentiment.

In today’s news, shares have risen after yesterday’s positive inflation data, court approves controversial new mansion at $45 million Tamarama site, and how a culture war is tearing apart a private school.