Commentary & Analysis

Heard around Davos – Friday

Bill Gates, Co-Chair of the Bill & Melinda Gates Foundation gestures next to his wife Melinda French Gates during the session 'Sustainable Development: A Vision for the Future' in the Swiss mountain resort of Davos

Here are some of the most interesting, provocative and salient quotes we heard today around the 2015 World Economic Forum:

“You don’t have to choose between doing well and doing good.” – Jim Smith, President and CEO, Thomson Reuters

“It is clear that if the capital markets and the established players don’t innovate, new entrants, including Silicon Valley technology firms, will.” – David Craig, President, Financial & Risk at Thomson Reuters

“We need huge investments of capital in the green economy.” - François Hollande, President of France

“The best answer to the extremists is to build a better world.” – Klaus Schwab, Founder and Executive Chairman, World Economic Forum

“One of the secrets for why Alibaba is successful is because we have a lot [47%] of women.” – Jack Ma, Founder and Executive Chairman, Alibaba Group

(more…)

How technology is disrupting the markets

A trader watches his monitor at Egyptian stock exchange in Cairo

It’s only one year since the World Economic Forum launched its Disruptive Innovation in Financial Services work group, but the atmosphere is decidedly different. Last year the collective mood of this cross-industry group was one of denial, largely due to the regulated nature of the financial services industry. This year, a well-known Silicon Valley entrepreneur challenged us to think differently, suggesting we take a clean sheet approach. And the mood couldn’t be more different, as this group embraces the fact that disruptive innovation has arrived.

Many of us in the financial industry developed professionally in a world that was about technology. However, today the curve is absolutely steeper – just think about how Uber and PayPal have changed the nature of their fields. There is also a realization now that technology is but one part: it is really about data and technology. The emerging trend among corporations and banks alike has been to hire chief data officers. We have the term and industry issue “big data” partly to thank for this. However, many of these same firms have still kept their chief information officers; I’m often left wondering about the difference between data and information and how these roles work together.

The emergence of big data as a business issue has changed the industry’s conversations with clients, particularly around opportunities like powerful analytics used to discover trading and investment opportunities or manage risk. But these terms can also be alienating. (more…)

Davos Today – Friday

DT

Davos Today, the official morning show of Thomson Reuters and the World Economic Forum, ran its second show today. In each show, anchor Axel Threlfall interviews world leaders, policymakers, blue-chip CEOs and leading investors. The program provides breaking news and analysis, as well as a flavor of the gossip and ‘behind the scenes’ action taking place in the mountain town.

Friday’s show featured interviews and analysis from the Colombian and Ukrainian finance ministers, the IEA, the Prime Ministers of Serbia and Finland and the CEOs of WPP and Novartis. (more…)

Davos Diary – Thursday

Davos Diary

Today marked the second full day of the World Economic Forum annual meeting in Davos, which we kicked off with another great edition of the WEF’s official news program, Davos Today. Today’s show featured interviews from the IMF, the Dutch Prime Minister, Blackstone Group, Nouriel Roubini and the chief economist of Brazil’s biggest bank, Itau.

Special guests and big names

One of the guests who stopped by the Global Markets Forum today was Aleksandar Vučić, Prime Minister of Serbia (pictured above), who took a turn answering questions from the engaged online forum of financial professionals, and in doing so even made the Serbian press.

Big names, of course aren’t all that difficult to come by at an event like Davos, and Reuters journalist Nadia Damouni has now met both Will.i.Am (here representing his foundation), and Yahoo CEO Marissa Mayer. I have a feeling they’ll be more big names popping up as we finish out the week. (more…)

The Montreal Convention: Assessing flight crew response to medical emergencies

By Joseph J. Ortego, Esq., and Thomas M. Mealiffe, Esq., Nixon Peabody

From Westlaw Journal Aviation: Attorneys Joseph J. Ortego and Thomas M. Mealiffe of Nixon Peabody discuss courts’ recent application of the Montreal Convention to cases involving in-flight medical emergencies.

Courts throughout the United States, including the U.S. Supreme Court, have wrestled with the nature and extent of the responsibility owed by international air carriers to their passengers.  Many of those courts’ thoughts and decisions have concentrated on the seemingly straightforward language of Article 17 of the Convention for the Unification of Certain Rules for International Carriage by Air, May 28, 1999, commonly referred to as the Montreal Convention.

(WestlawNext users: Click here for the 10 most recent stories from Westlaw Journals.) (more…)

Heard around Davos – Thursday

COO of Facebook Sandberg speaks during the session "The Future of the Digital Economy" in the Swiss mountain resort of Davos

Here are some of the most interesting, provocative and salient quotes we heard today around the 2015 World Economic Forum:

“Low cost bandwidth is a must for economic development.” – Satya Nadella, Microsoft CEO

“I.T. is an arms race and you are only as strong as your weakest link.” – Cathy Bessant, Head of Global Technology and Operations, Bank of America

“The digital world creates situation where there are no secrets anymore.” – Angela Merkel, German Chancellor (more…)

Britain’s future in Europe

B72xezQIEAAsQ4S

On the first official day of the World Economic Forum annual meeting in Davos, we co-hosted a breakfast discussion with WPP, titled “Britain’s Future in Europe,” bringing together an esteemed group of guests including CEOs, financial analysts, journalists, leaders and others. President and Editor-in-chief of Reuters Steve Adler moderated a lively panel discussion, featuring Sir Martin Sorrell, CEO of WPP; Lord Peter Mandelson, chairman of Global Counsel and former European trade commissioner and British first Secretary of State; and Domenico Siniscalco, vice chairman of Morgan Stanley and country head of Italy and head of government coverage EMEA.

The context of the conversation was based on TNS BMRB polling data, measuring British sentiment on the possibility of leaving the European Union. Some of the results from the research are shown below, which was presented by CEO of WPP government and public sector practice and global head of political and social practice at TNS Michelle Harrison: (more…)

Davos Today – Thursday

Davos Today

Davos Today, the official morning show of Thomson Reuters and the World Economic Forum, ran its second show today. In each show, anchor Axel Threlfall interviews world leaders, policymakers, blue-chip CEOs and leading investors. The program provides breaking news and analysis, as well as a flavor of the gossip and ‘behind the scenes’ action taking place in the mountain town.

Thursday’s show featured live interviews and analysis from the IMF, the Dutch Prime Minister, Blackstone Group, Nouriel Roubini and the chief economist of Brazil’s biggest bank, Itau. (more…)

Rocket science with Richard Branson

In the video interview below, billionaire entrepreneur Richard Branson chats with Rob Cox about the space business and lessons learned from the Virgin Galactic crash. (more…)

Davos Today – Wednesday

FMktvCyr4E3qzeECBZPO9baoiM5oCPzzZKTNfkShD9Q,vh6Up04FT6liytITVvzujWoLGSv2HnFfrIiobsm0MgY

Davos Today, the official morning show of Thomson Reuters and the World Economic Forum, kicked off its first episode today. In each show, anchor Axel Threlfall interviews world leaders, policymakers, blue-chip CEOs and leading investors. The program provides breaking news and analysis, as well as a flavor of the gossip and ‘behind the scenes’ action taking place in the mountain town.

Wednesday’s show featured live interviews and analysis from the OECD, Russian Deputy Prime Minister, Bain Capital, PwC and tenor Andrea Bocelli.

(more…)