DAVOS 2019

The latest news and insights from the 2019 World Economic Forum in Davos, Switzerland

‘Under siege’, oil industry mulls raising returns and PR game

DAVOS - When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.

The Latest From Davos

Saudis to Davos: move on from Khashoggi, let’s do business

DAVOS - If you somehow missed the news about the killing of journalist Jamal Khashoggi by Saudi agents and the global outcry that ensued, you might think Saudi Arabia is the darling of the World Economic Forum in Davos.

Why Davos is talking about the fight between two absentees

DAVOS - The two most powerful men in the world are not in Davos this year, but they remain impossible to escape.

CEOs sour on Trump policies, warn they hurt business, investment

DAVOS - From center-stage in Davos last year, President Donald Trump told the world’s corporate bosses that America is a great place to invest. It hasn’t quite turned out that way.

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Davos Today: Friday 2019

The official morning show of the World Economic Forum, aired live each day of the yearly conference in Davos. Watch our archive of this year's shows from #WEF19

Read Friday's Morning Briefing

  • Oil industry mulls raising returns and PR game
  • Party is over for dirt-cheap solar panels, says China executive
  • Japan’s central bank chief warns fintech firms could disrupt banking system

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INSIGHTS

There is no doubt - and there is a consensus coming here in various meetings in Davos - that our industry is literally under siege and the future of oil is at stake.

Mohammed Barkindo
@OPECSecretariat

OPEC secretary-general

Events to watch

Local Time 24 Jan 08:00 AM CET

Past Events

Tuesday 22 Jan1 p.m. CET

The Future Workforce: The Role of Humans In A Machine Age

AI, Robotics and Automation are gaining speed in the modern workplace. Join this panel discussion at the World Economic Forum in Davos hosted by Reuters and featuring industry experts.

SPONSORED BY COGNIZANT

Watch the replay ›
Tuesday 22 Jan2:15 p.m. CET

Prince William interviews Sir David Attenborough

The pair discuss Attenborough's work inspiring millions of people to become champions of nature.

Watch the replay ›
Wednesday 23 Jan9:15 a.m. CET

Closing the Financing Gap

Christine Lagarde and Bono join a panel discussing inclusive and sustainable development.

Watch the replay ›
Wednesday 23 Jan5:30 p.m. CET

Blockchain in Healthcare Insurance & Beyond: Are We Ready?

Blockchain’s rapid development is impacting economies, enterprise and society. Join this panel discussion at the World Economic Forum in Davos hosted by Reuters and featuring industry experts.

SPONSORED BY COGNIZANT

Watch the replay ›

Did You Know?

50%

The World Economic Forum hosts just over 3,000 delegates representing 114 countries - but delegates from four countries make up 50 percent of the total.

1971

Klaus Schwab, an economist and engineer, founded the Forum in 1971. Political leaders were invited for the first time in January 1974.

OVERHEARD AT DAVOS

Leaving the EU is like leaving the internet. It’s possible, but it’s not a very good idea.

Overheard by Peter Thal Larsen of Reuters Breakingviews during a lunch in Davos
@peter_tl

FOLLOW BREAKINGVIEWS COMMENTARY FROM DAVOS

1Rob Cox
Global editor, Breakingviews

@rob1cox ›
2Peter Thal Larsen
EMEA editor, Breakingviews

@peter_tl ›
3Clara Ferreira Marques
Associate editor, Breakingviews

@ClaraMarquesRTR ›

Reuters Davos polls video

Sponsored by Bank of America

01:44
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Who will be the driving force behind climate change initiatives?

We asked the public and Davos delegates who they think will drive environmental initiatives to tackle climate change. Find out what they said.

Sponsored by Bank of America

1:32
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What’s the most pressing issue for the WEF 2019?

Find out what the public and Davos delegates think is the most pressing issue to be tackled at the World Economic Forum.

Sponsored by Bank of America

1:31
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Who’s doing the most to tackle gender diversity?

We asked the public and Davos delegates who they think is doing the most to tackle gender diversity - governments, corporations or social movements.

Sponsored by Bank of America

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Big names at #WEF19

1:05
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Bono: capitalism is a wild beast

Bono, U2 singer and co-founder of the One campaign, described capitalism as ''a wild beast'' that can do much harm if not tamed.

6:58
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Matt Damon on a mission to bring clean water to the world

Oscar-winning actor Matt Damon is in Davos as part of his mission to end a global water crisis. He represents Water.org, a nonprofit he co-founded with CEO Gary White.

5:09
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Hard to know who’s driving U.S. policy on Russia – Browder

Is U.S. policy on Russia driven by the White House, the State Department or the Treasury? Kremlin critic Bill Browder says it’s hard to know.

5:44
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‘Brexit is a total disaster’ – Tim Berners-Lee

The inventor of the World Wide Web, Tim Berners-Lee, speaks to Reuters about regular people holding governments to account over fake news, how monetizing personal data is a distraction and that Brexit is a 'total disaster'.

Breakingviews in Davos

breakingviews

Downbeat Davos is still short on introspection

The Davos elite are downbeat. The executives, financiers and political leaders who traipsed to the Swiss mountain resort this week spent much of their time fretting about slowing economies, angry citizens, and technological clashes.

breakingviews

China outlook from Davos goes a little off-piste

Compared to the unbridled optimism of a year ago, there has been plenty of fretting at the annual World Economic Forum this week. High on the list of concerns is a sharper-than-expected slowdown in the People’s Republic. For now, though, growth is cooling at a reasonable pace and Beijing has ammunition left.

breakingviews

Brazil’s Bolsonaro clears low Davos bar

Brazil’s new president on Tuesday made a brief and vague sales pitch for a “new Brazil”. Business optimism about the country is running high The longer term, however, is another matter.

9:10
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Breakingviews TV: Citi’s Corbat

As the World Economic Forum kicks off, the New York bank’s chief executive gives his views on the global economy and financial markets, explains Citigroup’s decision to bring ValueAct into the tent, discusses Brexit and discloses what he’d do if he weren’t a banker today.

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Sponsored by Accenture

01:58
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Blockchain trumps banks in emerging markets: Bitpesa CEO

The founder of African blockchain startup Bitpesa says her company lets emerging markets businesses avoid often-shaky banking systems when they move money across borders. Elizabeth Rossiello spoke to Reuters from the sidelines of the World Economic Forum in Davos, Switzerland.

Sponsored by Accenture

2:21
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Companies must fight cyber crime harder: top UN advisor

The United Nations’ top advisor on internet governance told Reuters that firms must do more to protect consumer data from abuse. Lynn St. Amour’s comments come a day after French regulators fined Google for breaching European privacy laws.

Sponsored by ACCENTURE

1:54
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Self-regulation of AI is ‘dangerous’: CognitiveScale CEO

The head of AI software maker CognitiveScale said an international policy framework is needed for the regulation of AI, and that ideas of self-regulation are “quite frankly, dangerous.” Akshay Sabhikhi spoke to Reuters on the sidelines of the World Economic Forum in Davos, Switzerland.

Sponsored by Accenture

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World leaders at #WEF19

2:03
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Merkel, Abe preach cooperation to Davos crowd

German Chancellor Angela Merkel and Japanese Prime Minister Shinzo Abe defended cooperation between governments at the World Economic Forum in Davos, Switzerland amid rising criticism the global approach is leaving too many behind.

2:16
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Brazil’s upbeat Bolsonaro faces sober Davos mood

Brazil's new far-right president Jair Bolsonaro had the unenviable task of trying to lift spirits at the World Economic Forum in Davos with attendees concerned about slower global economic growth and the effects of climate change. Conway G. Gittens reports.

05:26
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Brexit is an ‘existential’ issue for Ireland – PM

Britain's impending departure from the European Union is not just about trade for Ireland but is an ''existential issue'' for its nearest neighbor, Prime Minister Leo Varadkar told Reuters at the World Economic Forum in Davos.

3:58
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NZ PM: we’re not discriminating against Huawei

New Zealand’s prime minister has assured Chinese telecoms equipment group Huawei of even-handed treatment after the small U.S. ally blocked the sale of some Huawei equipment citing national security concerns.

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Government leaders at #WEF19

00:37
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Bank of England’s Carney: UK businesses unprepared for no-deal Brexit

Bank of England Governor Mark Carney said on Thursday that many British businesses still face problems that have yet to be solved if Britain leaves the European Union without an agreement to smooth its transition.

1:36
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Brazil’s FM: we don’t want to be like Greece

An overhaul of Brazil’s pension system could save up to 1.3 trillion reais ($345 billion) over the next decade, Economy Minister Paulo Guedes has told Reuters in Davos, aiming as much as two-thirds higher than the previous government’s failed effort.

06:34
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S.Korea hopeful of ‘concrete’ results at U.S.-N.Korea summit

South Korea’s top diplomat has said the country is optimistic that a planned second summit next month between U.S. President Donald Trump and North Korean leader Kim Jong Un will deliver “concrete'' results.

02:42
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Brazilians feel safer with guns at home – Justice Minister

Brazil saw 64,000 homicides in 2017 - the most is the world. As the country's new president temporarily loosens firearm laws, Justice Minister Sergio Moro told Reuters that Brazilians feel safer with guns at home.

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World Issues at #WEF19

1:15
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Prince William interviews naturalist David Attenborough on climate change at Davos

The 92-year-old British naturalist, whose TV series ''Blue Planet II'' was avidly watched worldwide, has been credited with raising awareness of rampant plastic pollution in the oceans.

5:19
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Why are the world’s most vulnerable being ignored?

A recent Reuters Foundation poll of aid agencies found 2018 unusual for having so many 'forgotten crises' - Central African Republic, Chad, Yemen, the DRC. Reuters' Ivor Bennett spoke to outgoing Save the Children President Helle Thorning Schmidt on why the world's most vulnerable are being ignored.

5:29
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HRW on the state of human rights in 2019

The Executive Director of Human Rights Watch, Kenneth Roth, discusses the Trump administration, AI and Myanmar with Reuters Editor-in-Chief, Stephen J. Adler, at Davos 2019.

1:44
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David Attenborough to Davos: ‘We can create a world with clean air and water’

British naturalist Sir David Attenborough was honored at the Crystal Awards, which kicked off the World Economic Forum in Davos. He said the world can adapt to change its habits and prevent climate change.

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Business at #WEF19

2:08
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Will.i.am talks artificial intelligence at Davos

Musician Will.i.am spoke in Davos alongside his business partner Alain Bejjani, the CEO of Majid Al Futtaim, about the launch of their new AI-powered voice assistant.

14:21
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Microsoft braced for decade of battle over AI, cloud services

Microsoft is ready for a decade of fierce competition with its rivals over AI and cloud computing, says Microsoft President Brad Smith during an interview in Davos.

9:39
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McKinsey Chief Says Clients are “Cautious, Turning Gloomy”

McKinsey Managing Partner Kevin Sneader tells Reuters that anxiety over the global economy, as well as an increasingly fractured geopolitical context, is beginning to chisel away at any optimism felt at Davos last year.

05:34
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UBS CEO: return of ex-investment banking chief Orcel “not realistic”

The return of investment banker Andrea Orcel to Swiss banking giant UBS is not a ''realistic option,'' UBS's Chief Executive Sergio Ermotti told Reuters on Thursday.

More Davos Headlines

Consumer goods CEOs in Davos hot seat over plastic waste

By Jessica DiNapoli and Mark Bendeich DAVOS, Switzerland (Reuters) - Consumer products companies including Procter & Gamble Co and Coca-Cola Co are emerging as new targets for global

WTO chief: China to join drive on e-commerce rules

DAVOS, Switzerland (Reuters) - World Trade Organization Director-General Roberto Azevedo said on Friday that China had announced it would be a co-sponsor of an initiative by nearly half of the WTO's

WTO head says risks to global economy from trade tensions are very real

DAVOS, Switzerland (Reuters) - The head of the World Trade Organisation said on Friday that the risks to the global economy from trade tensions are very real. Roberto Azevedo was speaking the World

Interactive: Which countries wield outsized influence at Davos?

Trump canceled his delegation to Davos as he grapples with the government shutdown, but the U.S. still has the largest presence at the World Economic Forum of any single country. See which countries are the biggest players at the elite gathering.

Sponsored by PGIM

06:16
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Reuters talks tech with journalists at Davos

At the World Economic Forum in Davos, Reuters' Dan Colarusso talks all things tech with Nicholas Thompson from WIRED and Rebecca Blumenstein from The New York Times.

Nestle chairman defends long-term strategy in face of shareholder activist

By Jessica DiNapoli DAVOS, Switzerland (Reuters) - Nestle SA chairman Paul Bulcke said on Friday he would not pursue short-term efforts at the expense of long-term success, in the face of

Irish PM says army might be needed at border after chaotic Brexit: Bloomberg

LONDON (Reuters) - Irish Prime Minister Leo Varadkar said soldiers might have to return to the border with Northern Ireland if Brexit went wrong, Bloomberg reported. In a worst-case scenario, a hard

Swiss Re makes digital side-bet as premiums languish

By Mark Bendeich and Silvia Aloisi DAVOS, Switzerland (Reuters) - The world's second-largest reinsurer, Swiss Re, plans to double down on a small, new online insurance venture as its huge core

Bank of Japan’s Kuroda says demographic changes could make central bank’s job difficult

DAVOS, Switzerland (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Friday changes in demographics, such as an aging population, could make the central bank's job difficult by lowering the

7:21
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Detroit string quartet closes Davos Today

Four members of the Sphinx Orchestra from Detroit, which aims to change lives through art, close the show for Davos Today

07:57
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OECD Secretary-General and Australian finance minister talk US-China standoff

OECD Secretary-General Angel Gurria and Australian finance minister Mathias Cormann discuss the impacts of ongoing tensions between China and the Trump administration around the world.