World Economic Forum

Worsening wealth gap seen as biggest risk facing the world in 2015

 

A key message coming out of Davos right now is around the risk which high income disparity creates for all of us. The World Economic Forum conducted a survey of over 700 global experts, and they ranked Income Disparity as the risk most likely to happen and with the most adverse impact.  The chart below shows the plotting of risks which made the final list:

Global Risk Perception Survey 2013-2014

Source: Global Risk Perception Survey 2013-2014

High income disparity creates increasing likelihoods of unrest, lower growth, and mass migration across country boarders.  It also disadvantages the world’s poor in terms of their ability to be resilient in the face of other risks, like severe weather events brought on by climate change.  That in turn, can lead to increased resentment and further negative security consequences for a region impacted by a disaster, and for those perceived as responsible for bringing on the disaster in the first place.  Bottom line, these risks are connected, and below is a view of how the risk report portrays this: (more…)

Davos Diary – Friday

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Perhaps one of the best parts about being involved in the Thomson Reuters operation here in the heart of Davos at the local library-turned TV studio and news bureau is having the chance to witness great television news being made, practically round the clock.

Every morning during the week of the World Economic Forum annual meeting at 7:30 a.m. CET on the dot, Reuters-run and produced Davos Today promptly begins as watchers online and on TV wake up with the headlines out of Davos and beyond.

What’s been so incredible to witness while here in Davos is the collaboration, professionalism and intensity with which the crew works to make it all happen. Not to mention how genuine, patient and calm and focused the people running the show are. Nothing seems to phase or disturb what they’re doing, which is making live TV happen. (more…)

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

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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 debrief from the Global Markets Forum

Global Markets Forum

It’s been another successful year for our online communities at the World Economic Forum in Davos – our third in a row – with the Global Markets Forum (GMF), Trading Africa, Trading China and the Japanese-language DealWatch all represented through our series of “LiveChat” real time interviews with key delegates.

From our base in the town’s library, we mulled this year’s big conference themes – crisis and cooperation; growth and stability; innovation and industry and society and security – with the likes of the International Monetary Fund, the United Nations and the World Bank. We talked politics with Serbia’s Prime Minister and the special advisor to the Japanese government, and dissected the European Central Bank’s bumper quantitative easing package with the vice-president of the European Parliament.

In figures: 3 days, 4 forums, 12 guests and 19 chat sessions

Some highlights: (more…)

Meet the team behind Davos Today

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Take a look behind the scenes of Davos Today, the official, must-watch TV show of the World Economic Forum. Produced and run exclusively by Reuters, you’ll find a hard working production crew that works tirelessly to put out a great show every morning, as well as produce video clips for Reuters.com and the Reuters Davos Live Blog. Reuters TV anchor Axel Threlfall caught up with the crew to get a sense of what they do and to find out how they’re getting on in the cozy Swiss town.

Check out all of our coverage of the World Economic Forum in Davos.

We’re always looking for people like those featured in the video below to join our global team that embraces diverse perspectives and big thinking. See all of our open news & editorial jobs.
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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…)

Britain’s future in Europe

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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…)