Gulf widens over Tobin tax January 23, 2012 DIVISIONS over a European Tobin tax have widened in the run-up to a gathering of leaders in Davos, where EU commissioner Michel Barnier will square up to FSA chairman Lord Turner in a debate on banking this week. Barnier used an address to the City at Guildhall yesterday to restate his support for a Tobin [...]
Summers calls for Davos to restore confidence January 23, 2012 “ABNORMALLY high uncertainty” is the main factor driving financial markets at the moment, according to former US Treasury secretary Larry Summers. He said that the debate at Davos on how to overcome the problem risks becoming polarised between economists and business leaders, who want to see either government stimulus or private-sector growth. “The right current [...]
Skiing beats networking January 23, 2012 SKIING is the best reason to go to the World Economic Forum in Davos, according to a plurality of those asked by CNBC. Thirty per cent of those responding to an online poll highlighted the winter sport as the main draw, while 27 per cent said that “networking” is the best selling point. Just 14 [...]
DAVOS TWEETS January 23, 2012 @Angela_D_Merkel 6.24pm Nearly finished #Davos speech. Thinking of closing with a musical number. #Superangiesmagicfiscalpactwilldothebusiness @DavosDeville 6.50pm Can someone explain why the hell I’ve just walked into the side of an igloo? @DavidEnrich 2.48pm My favorite moment at #Davos 2011: Lagarde denies existence of crisis. “The #euro zone has turned a corner” @Clare_OC 3.02pm I hear [...]
Protesters build igloo village January 23, 2012 THE OCCUPY movement, which went global after protests against Wall Street last year, is camping in igloos to bring its argument with the super-rich “one per cent” to Davos. It is a reminder to the leaders of finance and industry at the World Economic Forum of the resentment that is leading to questions about the [...]
DAVOS DIARY January 23, 2012 A CERTAIN economics reporter had some unwelcome company for the mountainous bus ride up to the mountain retreat yesterday, reporting that he had heard some youthful attendees on their way to the forum suggesting “the creation of a spermbank” to sell the seed of promising young leaders. Still, as public relations slip-ups go, Davos youth [...]
WELCOME TO DAVOS January 23, 2012 The World Economic Forum Annual Meeting 2011 opens today and runs until Sunday 30 January. Today, delegates will be arriving at the Swiss mountain town of Davos, the highest city in Europe, for the conference. Registration takes place throughout the afternoon. The programme begins at 5.30pm – 7pm UK time, with a welcome reception in [...]
Digital sector saves day for music market January 23, 2012 TECHNOLOGICAL advancement is changing the face of the music industry for good despite getting a bad press recently over piracy, top record label executives declared yesterday. Digital music revenues grew eight per cent in 2011 to $5.2bn (£3.3bn), crossing the $5bn mark for the first time, according to the International Federation of the Phonographic Industry. [...]
Tips to take away from the Ruspetro flotation January 23, 2012 THE successful flotation of Ruspetro, the Russian oil and gas explorer, is being looked on by many in the City as an opportunity to finally get a moribund IPO market off the ground. It’s the first main market listing of the year and it follows a period during which only the most courageous or crazy [...]
Tube to get wi-fi before Games January 23, 2012 London Underground passengers will be able to use wi-fi at 120 stations in time for the Olympics, a Transport for London boss has said. TfL oversaw a successful trial at Charing Cross last year, but there were fears of delays after telecoms firm Huawei pulled out of a deal to provide the network. But a [...]
