Davos Notebook

from James Saft:

Whose job is it to stimulate Europe?

January 28, 2009

So do countries which can borrow money more cheaply, Germany for example, have a higher obligation to borrow, spend and make things better for everyone across Europe?

UAE Oil Minister forced to stay off Davos pistes

January 28, 2009

Deep, crisp and even –¬†some would say the best thing about this year’s World Economic Forum is the quality of the snow on the well-groomed pistes above all the fevered debate.

Davos delegates take baby steps to new world order

January 28, 2009

The world’s business elite has been told to take a hike.

This year, the gift in the World Economic Forum’s conference bag is a plastic pedometer. Delegates gathering to discuss the dismal state of the world economy have been told to reduce traffic congestion and contribute to a “Green Davos” by walking around the Alpine ski resort, instead of jumping in a limousine.

Music no second fiddle to the credit crisis

January 28, 2009

Benjamin Zander, conductor of the Boston Philharmonic Orchestra, is a unique participant to the annual meeting of the World Economic Forum dominated by movers and shakers of the business and political world.

from James Saft:

Shocker – Davosians vote against more regulation

January 28, 2009

Duncan Niederauer, chief exec of NYSE Euronext, told a panel here at Davos that rather than inventing a whole host of new regulations, we'd be better off focusing on existing means of bringing order to markets, specifically taking a page from the exchanges books by having central clearing and more price transparancy for derivatives and off-exchange structured products. I think he's actually got a great point about clearing and better price information, but I can't see this as being anywhere near bringing regulation up to scratch.

from James Saft:

Stephen Schwarzman’s hair of the dog

January 28, 2009

jimsaftcolumnSo what is Blackstone Group chairman Stephen Schwarzman's prescription for solving the banking crisis?

from The Great Debate:

Trust: the commodity in shortest supply

By Reuters Staff
January 28, 2009

Where do I put my money?
What do I read?
Who do I listen to?
Who saw it coming?
Who made money from it?
Who will make money from it?
Who can I trust?

The shift in power from West to East

January 28, 2009

One news theme I’ve asked our journalists to be alert to this year is the shift in power and emphasis from est to East.

from James Saft:

Stephen Roach – protectionism a threat

January 28, 2009

Stephen Roach of Morgan Stanley, who pretty much called it at last year's Davos, when consensus was for no recession in the "real" economy and decoupling of emerging markets, is gloomy again. Speaking with him this morning after he did an interview with Reuters on Davos Today, Roach said that there was a real threat of protectionism as politicians come under pressure from rising unemployment. The U.S. and China relationship will be key, he said.

Davos Today – 28th January

By Reuters Staff
January 28, 2009

Watch interviews with top business and world leaders including the following:

    Stephen Roach Angel Gurria Maria Ramos Lars Thunell Sameer Al Ansari Ben Verwaayen Ian Livingston Alexander Isozimov
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