Davos day 2: Germany’s Scholz not drawn on Ukraine tank decision; Zelenskiy urges faster action

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Zelenskiy says his speech will be short, as time is short in the war.

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He says the world is now facing a time crisis, on top of existing crises such as food security and the energy crisis.

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He warns that the reaction of the civilised world needs to be faster

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Russia needed less than one second to start the war, the world needed days to respond, he points out.

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Ukraine and its allies have been resisting for almost a year, Zelenskiy continues. Prompt actions have brought results, such as the grain deal and energy unity. This has saved millions of lives, not just in Ukraine.

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The world was hesistant when Russia invaded Crimea in 2014, Zelenskiy says sternly. The world must not hesitate today, or ever.

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Instead, there must be resolve and speed.

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Russia is exporting terror around the world, he warns, while Ukraine is offering a 10-step plan to end the war.

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The world’s reaction must outpace Russia’s next military move, Zelenskiy continues, and the supply of Western tanks must outpace the next deployment of Russia’s tanks.

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Supplies of air defence systems to Ukraine must outpace Russian attacks, he says.

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Volodymyr Zelenskiy begins, by telling delegates that the helicopter crash in Kiev today claimed the life of Ukraine’s interior minister, his colleagues, and the helicoptor crew.

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Many Ukrainian families lost loved ones today, and many more are losing them each day because of the war, Zelenskiy says.

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He asks Davos delegates to honour the memory of everyone lost in the conflict, with a minutes’s silence.

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There had been hopes that Olaf Scholz might announce a decision on allowing Leopard 2 Tanks to be sent to Ukraine during his speech at Davos, but he has not.

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Instead, the German chancellor tells delegates in Davos that we must avoid the conflict escalating into a war between Russia and Nato.

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He’s asked by one delegate…

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Q: Why are you hesitating on the decision on allowing Leopard 2 tanks to be sent to Ukraine?

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Germany has been among the biggest supporters of Ukraine, Scholz insists, as he embarks on a lengthy defence of Berlin’s approach.

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He points out that the US has sent more military support, but it does have a much larger defence budget.

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We decided very early in the war to change our political strategies, Scholz says, not simply supporting Ukraine with humanitarian aid but with a lot of weapons.

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We will continue to provide support, for as long as needed, he insists.

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Scholz says that the artillery coming from Germany to Ukraine, and its multirocket launcher, are very effective to Ukraine defending its sovereinty.

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Ukraine can rely on our support, but we must avoid this becoming a war between Russia and Nato, Scholz explains.

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And his “willingness” and the willingness of Germany, is that Ukraine becomes an independent, free, democratic nation that can join the European Union.

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On tank delivery, Scholz is not drawn on whether Germany will send Leopard tanks to Ukraine. "We want to avoid this becoming a war between Russia and Nato… we are strategically interlocked and want to discuss with our partners, not just [act] by ourself"

— Mehreen Khan (@MehreenKhn) January 18, 2023

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…but in reply, no word from Scholz on Leopard tanks. Instead he highlights Germany's list of military aid so far, promises to support Ukraine for "as long as necessary" whilst ensuring there will be no war "between Russia and Nato". https://t.co/7SoVfFR3kx

— Dan Sabbagh (@dansabbagh) January 18, 2023

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Reminder: Germany is under heavy pressure to allow the re-export of German-manufactured Leopard 2 tanks, which are used by 13 Nato countries, or to give some of its own to help Ukraine.

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A group of about 50 defence ministers are due to meet in Ramstein, Germany, later this week to discuss future weapons shipments to Ukraine.

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Olaf Scholz, Federal Chancellor of Germany, has arrived on stage to give his special address to the World Economic Forum – the only G7 leader expected this year.

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Scholz begins by telling delegates that a lot has changed in the last year.

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At the start of 2022, many people were expecting a boom, before the Ukraine war began in February.

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He reminds the audience of the fatal helicoptor crash, in which at least 15 people including Ukraine’s interior minister was killed.

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We are with their families, Scholz says.

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There is also a “sword of Damacles” hanging over the world, Scholz says, the danger of deglobalisation and decoupling within the global economy.

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Russia has already failed completely in achieving its imperialist goals, he continues.

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Ukraine is defending itself with impressive courage, with support from interntaional allies.

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We will continue to support Ukraine for as long as necessary, Scholz insists.

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In order for the war to end, Russia’s aggression must fail, he insists.

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Al Gore, former US vice president of the United States, has told Davos that he supports Greta Thunberg’s protest against a coal mine expansion in Germany.

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He also called for international institions to be reformed to better address the climate emergency.

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Gore told a panel here in Davos that the climate crisis was getting worse faster than world is tackling it, warning:

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“We are not winning. The crisis is still getting worse faster than we are deploying these solutions.

\n

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Gore added that he agreed with efforts by Thunberg to prevent the expansion of a coal mine in Germany.

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He reminded the audience that Thunberg had been detained, yesterday, during a protest against the demolition of a German village to make way for a coalmine.

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Gore said he agreed with her about trying to stop the coal mine project, which Thunberg has called a “betrayal of present and future generations.”

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Gore also said that young activists look at the World Bank, and say it’s being run by a climate denier, adding:

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Everyone knows the World Bank is failing badly.

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#BREAKING former US Vice-President Al Gore tells #Davos2023 ‘World Bank is failing badly’

— CGTN Europe (@CGTNEurope) January 18, 2023

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Last September, World Bank chief Davis Malpass was widely criticised for not saying whether he agreed that humans burning fossil fuels were “rapidly and dangerously warming the planet.”

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Gore says the COP climate change conference should be reformed, so that decisions could be taken on a super-majority rather than needing unanimity.

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That would stop oil and gas companies and petrostates undermining the process, he explained.

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Al Gore highlights huge problem on letting fossil fuel countries hijack decisions with the excuse of consensus (unanimity) instead of vote (majority) on Climate COP.

This is also the big risk with the #plasticstreaty negotiations and implementation phase.#wef23 pic.twitter.com/DcjMYKFBiI

— Andrés Del Castillo #PlasticsTreaty 🇺🇳 (@andresdelcas) January 18, 2023

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Political will is a renewable resource, Gore pointed out, to applause.

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Asked to sum up his message in one word, Gore replies:

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Early to bed, early to rise. Work like hell and organise.

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The future of Klaus Schwab – Mr Davos for more than half a century – has become a talking point at this year’s meeting after World Economic Forum employees voiced strong criticism of their chair and the lack of a succession strategy.

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A group of current and former WEF staff members who contacted the Guardian said the 82-year-old Schwab was a law unto himself and had surrounded himself with “nobodies” who were incapable of running the organisation he founded in the early 1970s.

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“Klaus has been at the helm of the WEF for 52 years. When he was born [in 1938] 122 of the 195 states in the world right now did not even exist. He is completely unaccountable to anyone inside and outside the organisation,” the group said.

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“We are a group of current and former employees of the WEF. We want to play our role in fostering debate about the role this organisation plays in the world.”

\n

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The group said it wanted to remain anonymous.

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“We are hesitant to come forward as Klaus is very well connected and can make life very difficult for us even after we leave the WEF.”

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Speculation about Schwab’s future has intensified this week after a piece on the online publication Politico said the WEF’s strategic partners – the firms that bankroll the $390m (£315m) a year business – were unhappy about the lack of a succession strategy.

","elementId":"d8ed029f-a1e6-4349-89b8-806800a8899e"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

More here:

","elementId":"d06984f6-e3ae-45a1-b017-c6c626a484ce"},{"_type":"model.dotcomrendering.pageElements.RichLinkBlockElement","url":"https://www.theguardian.com/business/2023/jan/18/mutiny-erupts-among-wef-staff-over-role-of-mr-davos-klaus-schwab","text":"Mutiny erupts among WEF staff over role of ‘Mr Davos’ ","prefix":"Related: ","role":"thumbnail","elementId":"880630f0-ff5c-4c4f-85b3-76ee49cd5c80"}],"attributes":{"pinned":false,"keyEvent":true,"summary":false},"blockCreatedOn":1674048125000,"blockCreatedOnDisplay":"13.22 GMT","blockLastUpdated":1674048355000,"blockLastUpdatedDisplay":"13.25 GMT","blockFirstPublished":1674048355000,"blockFirstPublishedDisplay":"13.25 GMT","blockFirstPublishedDisplayNoTimezone":"13.25","title":"Mutiny erupts among WEF staff over role of ‘Mr Davos’","contributors":[{"name":"Larry Elliott","imageUrl":"https://i.guim.co.uk/img/static/sys-images/Guardian/Pix/pictures/2014/4/17/1397749335083/LarryElliott.jpg?width=300&quality=85&auto=format&fit=max&s=58abc26c8992a5fe974de1d42f3b89dd","largeImageUrl":"https://i.guim.co.uk/img/uploads/2017/10/06/Larry-Elliott,-R.png?width=300&quality=85&auto=format&fit=max&s=e7b230406d755166fb74384c5236e7c2"}],"primaryDateLine":"Wed 18 Jan 2023 17.35 GMT","secondaryDateLine":"First published on Wed 18 Jan 2023 07.47 GMT"},{"id":"63c7b5408f08700e2aeb0219","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Most business leaders fear that global geopolitical instability means a catastrophic cyberattack will occur by 2025.

","elementId":"8d9ea699-c400-4ea2-8ed5-a8a770c4d835"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

A survey by the World Economic Forum released this morning found that 93% of cybersecurity experts and 86% of business leaders believe global geopolitical instability is likely to lead to a catastrophic cyberattack in the next two years.

","elementId":"69db0017-3fd9-4c85-932b-a08186286656"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

The poll shows that a lack of skilled cyber experts is threatening the security of business and societies.

","elementId":"7f5e8ba7-2bb3-4d86-bff2-b8866d529b92"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Jürgen Stock, secretary-general of Interpol, told a press conference in Davos that the level of concern exceeds anything seen before.

","elementId":"6449c740-5e04-451f-ae0f-c3f90ab8eae1"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Increased digitisation is leading to increased connectivity, Stock explained, and making it harder to find security experts. Firms should consider reskilling staff to fill this gap, he said.

","elementId":"b8f6abef-6c5a-4c14-946a-5528614438fa"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Speaking to the Guardian, Stock insisted law enforcement was making progress and “doing a lot” in the fight against cybercriminals, which due to “ongoing investigations we can’t make public”.

","elementId":"8bb99116-156f-4dac-9033-c3b1bde63045"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Stock said:

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We have a number of success stories in global law enforcement, and Interpol is connecting member countries across geopolitical divides.

\n

But we need to be much much better, at the end of the day.

\n

We are, by far, not yet where we want to be in really getting the criminals behind bars.

\n

","elementId":"efc5a7c0-9517-4228-bd4e-5cc775d90142"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Stock explains that law enforcement are good at taking server infrastructure used by cybercriminals down.

","elementId":"2cbc16d7-ceab-4e28-af53-223ecfd83433"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

But as the criminals who are using the darkweb, selling cybercrime as a services, use encryption, anonymisation and nicknames, it isn’t like breaking a mafia gang, Stock explained, adding:

","elementId":"46b2fbd9-88b2-4254-b4bf-6c7315ce175d"},{"_type":"model.dotcomrendering.pageElements.BlockquoteBlockElement","html":"

\n

It’s a completely different concept than the mafia concept, where they are operating based on the same family, in the same region.

\n

","elementId":"a9a82048-dd50-41fe-8978-103f0a888f9b"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

The international nature of cybercrime is an added challenge for law enforcement, Stock explains.

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“Honestly, there is a lot to do”, in term of cooperation with the private sector, providing resources, training and skills, he adds.

","elementId":"941674c1-bbef-4fe8-bcff-7818d1ee21cd"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Interpol, which is 100 this year, facilitates worldwide police cooperation and crime control between countries “despite all the geopolitical difficulties”, Stock says. That includes Russia, who are a member of Interpol.

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Cooperation “depends on the two countries concerned” Stock adds.

","elementId":"68d13f98-ad26-4b49-a0ac-a142330b35f7"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Last October, Interpol coordinated a joint law enforcement effort involving 14 countries across four continents against Black Axe, a cyber fraud group, and related West-African organized crime groups. There were 75 arrests, and €1.2m was recovered.

","elementId":"95eebcb9-b5a5-4b6d-9b21-8dc38f9572d1"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Julie Sweet, chair and chief executive officer of Accenture, said companies must ‘secure the core’ of their business to avoid cyber disruption

","elementId":"c2e82802-b924-4f02-aef9-8afa4278c6aa"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Edi Rama, prime minister of Albania, told reporters that if cybercrime was a state, it would be third largest economy after US and China. He said Albania has been under cyberattack from Iran since last summer.

","elementId":"9f9e8f93-f3c3-49ae-9afb-f3c3c2e6ab91"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

He compares the threat of hacking to a ticking bomb, warning that sometimes you don’t know that hackers are there, and that you are sleeping on a bomb.

","elementId":"1e6ea9c2-1aff-419b-8a60-34d5cb76d23e"}],"attributes":{"pinned":false,"keyEvent":true,"summary":false},"blockCreatedOn":1674032448000,"blockCreatedOnDisplay":"09.00 GMT","blockLastUpdated":1674047463000,"blockLastUpdatedDisplay":"13.11 GMT","blockFirstPublished":1674046468000,"blockFirstPublishedDisplay":"12.54 GMT","blockFirstPublishedDisplayNoTimezone":"12.54","title":"Catastrophic cyberattack likely in the next two years, business chiefs fear","contributors":[],"primaryDateLine":"Wed 18 Jan 2023 17.35 GMT","secondaryDateLine":"First published on Wed 18 Jan 2023 07.47 GMT"},{"id":"63c7d6058f0860d08f7c0af6","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

The head of the United Nations has accused the world’s biggest fossil fuel companies of refusing to abandon a business model at odds with human survival despite knowingly putting the world on course for a climate meltdown decades ago.

","elementId":"a3dee0bb-e69d-4bff-a277-1d3e6cc61ca1"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Speaking at the Davos summit of business and political leaders, the UN secretary general, António Guterres, launched a strong attack on the world’s leading oil companies, many of which are represented at the World Economic Forum’s annual meeting at the Swiss resort.

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Guterres said recent revelations that ExxonMobil knew back in the 1970s that its core product was “baking our planet”, made “big oil” similar to the tobacco companies that knew smoking led to cancer.

","elementId":"fdbefb19-13b7-4aaf-af2d-227448bcc764"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

“Just like the tobacco industry, they rode roughshod over their own science. Big Oil peddled the big lie … And like the tobacco industry, those responsible must be held to account,” he said.

","elementId":"3230774d-f55d-488d-8100-c274cd88a695"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

“Today, fossil fuel producers and their enablers are still racing to expand production, knowing full well that their business model is inconsistent with human survival. This insanity belongs in science fiction, yet we know the ecosystem meltdown is cold, hard scientific fact.”

","elementId":"773ff2e0-0e04-4ca7-85b3-6ac8890fe538"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

The need to step up progress in the global battle to prevent a rise in temperature of more than 1.5C has been one of the themes of the Davos meeting but the head of the UN said many of the pledges made by companies to achieve net zero carbon amounted to greenwashing.

","elementId":"01acb7ff-70d1-45b5-b9b6-041215fc3b76"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

More here:

","elementId":"fffe273d-1749-4332-9e81-2ceb7fc9e1d9"},{"_type":"model.dotcomrendering.pageElements.RichLinkBlockElement","url":"https://www.theguardian.com/business/2023/jan/18/un-head-accuses-fossil-fuel-firms-of-business-models-inconsistent-with-human-survival","text":"UN head accuses fossil fuel firms of business models ‘inconsistent with human survival’","prefix":"Related: ","role":"thumbnail","elementId":"1e46f573-a876-411d-9466-e0699b74420c"}],"attributes":{"pinned":false,"keyEvent":true,"summary":false},"blockCreatedOn":1674040837000,"blockCreatedOnDisplay":"11.20 GMT","blockLastUpdated":1674040978000,"blockLastUpdatedDisplay":"11.22 GMT","blockFirstPublished":1674040978000,"blockFirstPublishedDisplay":"11.22 GMT","blockFirstPublishedDisplayNoTimezone":"11.22","title":"Full story: UN head accuses fossil fuel firms of business models ‘inconsistent with human survival’","contributors":[{"name":"Larry Elliott","imageUrl":"https://i.guim.co.uk/img/static/sys-images/Guardian/Pix/pictures/2014/4/17/1397749335083/LarryElliott.jpg?width=300&quality=85&auto=format&fit=max&s=58abc26c8992a5fe974de1d42f3b89dd","largeImageUrl":"https://i.guim.co.uk/img/uploads/2017/10/06/Larry-Elliott,-R.png?width=300&quality=85&auto=format&fit=max&s=e7b230406d755166fb74384c5236e7c2"}],"primaryDateLine":"Wed 18 Jan 2023 17.35 GMT","secondaryDateLine":"First published on Wed 18 Jan 2023 07.47 GMT"},{"id":"63c7cabf8f08700e2aeb02af","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Antonio Guterres also warns Davos that the world risks a ‘great fracture’, the possible decoupling of the two largest economies, the US and China.

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Such a rift could create two different set of trade rules, two dominant currencies, two internets and two conflicting artificial intelligence strategies, the UN secretary general fears, and hit global growth.

","elementId":"f7b0e426-e6a7-46d2-a6a2-2e9298ee2d39"},{"_type":"model.dotcomrendering.pageElements.TweetBlockElement","html":"

The IMF reported that dividing the global economy into two blocs could cut global GDP by a whopping $1.4 trillion.

There are many aspects in which US-China relations diverge – particularly on questions of human rights and regional security. 3/

— Kaiser Kuo (@KaiserKuo) January 18, 2023

\n","url":"https://twitter.com/KaiserKuo/status/1615658293736898560","id":"1615658293736898560","hasMedia":false,"role":"inline","isThirdPartyTracking":false,"source":"Twitter","elementId":"b1c9700e-ed05-4c79-a246-f917efe86b81"},{"_type":"model.dotcomrendering.pageElements.TweetBlockElement","html":"

But it is possible – indeed essential – for the two countries to have meaningful engagement on climate, trade and technology to avoid the decoupling of economies or even the possibility of future confrontation. 4/

— Kaiser Kuo (@KaiserKuo) January 18, 2023

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United Nation’s secretary-general António Guterres is addressing Davos now, and heavily criticising fossil fuel producers.

","elementId":"bb615ba8-78d8-44d5-86b6-6efb25b5913d"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Guterres says the world is “flirting with climate disasters”, with every week bringing a new horror story.

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The commitment to limit global heating to 1.5 degrees is “nearly going up in smoke”, Guterres says, in a keynote speech to the WEF Congress hall.

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Without further action, we will hit 2.8 degrees of heating. “For many, that will be a death sentence.”

","elementId":"03c00ac4-c671-41f9-9b5a-07a6eab5db36"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

But this is not a surprise, Guterres says, citing last week’s news that Exxon had privately predicted global warming, but then spent decades publicly rubbishing such science in order to protect its core business.

","elementId":"0920bfd2-8e12-4fe3-81b1-a1c0f6944ef6"},{"_type":"model.dotcomrendering.pageElements.RichLinkBlockElement","url":"https://www.theguardian.com/business/2023/jan/12/exxon-climate-change-global-warming-research","text":"Revealed: Exxon made ‘breathtakingly’ accurate climate predictions in 1970s and 80s","prefix":"Related: ","role":"thumbnail","elementId":"74b68a08-d8c6-4c9f-b2ed-cb3e76d24bce"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

We learned last week that certain fossil fuel producers were fully aware in the 70s that their core product was baking our planet, Guterres says.

","elementId":"7ac47598-191c-4f52-aa1e-92a59bfee8c0"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Just like the tobacco industry, they rode rough-shod over their own science, Guterres says sternly.

","elementId":"e4ffe858-0068-4411-b8ef-ec8ea1c44a94"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Some in big oil peddled the Big Lie, Guterres adds.

","elementId":"1be890f3-888b-451d-9da5-c5601b130022"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

And like the tobacco industry, those responsibly should be held to account, he insists.

","elementId":"092bcf70-5314-4ccf-b987-b00585fa5ed6"},{"_type":"model.dotcomrendering.pageElements.YoutubeBlockElement","id":"961764bb-e33e-41c9-a137-1915401db52e","assetId":"OiUxaGI6IuA","channelId":"UCIRYBXDze5krPDzAEOxFGVA","mediaTitle":"UN’s Guterres: oil companies have peddled ‘big lie’ on climate crisis – video","posterImage":[{"url":"https://media.guim.co.uk/e6474a47efb9cee733d91dee68145fb9ab2b9f2f/0_187_5000_2812/2000.jpg","width":2000},{"url":"https://media.guim.co.uk/e6474a47efb9cee733d91dee68145fb9ab2b9f2f/0_187_5000_2812/1000.jpg","width":1000},{"url":"https://media.guim.co.uk/e6474a47efb9cee733d91dee68145fb9ab2b9f2f/0_187_5000_2812/500.jpg","width":500},{"url":"https://media.guim.co.uk/e6474a47efb9cee733d91dee68145fb9ab2b9f2f/0_187_5000_2812/140.jpg","width":140},{"url":"https://media.guim.co.uk/e6474a47efb9cee733d91dee68145fb9ab2b9f2f/0_187_5000_2812/5000.jpg","width":5000}],"expired":false,"duration":77,"elementId":"09c222f9-2692-4f82-8870-aed0cdc81832"}],"attributes":{"pinned":false,"keyEvent":true,"summary":false},"blockCreatedOn":1674037222000,"blockCreatedOnDisplay":"10.20 GMT","blockLastUpdated":1674054915000,"blockLastUpdatedDisplay":"15.15 GMT","blockFirstPublished":1674037753000,"blockFirstPublishedDisplay":"10.29 GMT","blockFirstPublishedDisplayNoTimezone":"10.29","title":"UN’s Guterres: Big oil peddled big lie on climate change","contributors":[],"primaryDateLine":"Wed 18 Jan 2023 17.35 GMT","secondaryDateLine":"First published on Wed 18 Jan 2023 07.47 GMT"},{"id":"63c7bdfa8f0851381f5b558d","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

A series of “rolling country recessions” is likely, the boss of the Wall St banking giant Citigroup has warned.

","elementId":"e17e802b-b698-43dd-8880-32480def8af9"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Jane Fraser told a panel at the World Economic Forum that with “different counties are in very different positions” and central banks interest rate increases likely it is a “choppy time in the world”.

","elementId":"379f26b2-d443-420f-98f8-fc49d7dd8124"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

She said:

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\n

“We are expecting to see a rolling series of country recessions around the world.

\n

","elementId":"3a8c81e5-f938-4dd5-befa-5a7aad5ff822"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

However Fraser said the bank sees the overall economic picture improving with “tail risks coming in a little bit more”.

","elementId":"91716d86-7e76-4078-8b3c-872a3c0dfc28"},{"_type":"model.dotcomrendering.pageElements.BlockquoteBlockElement","html":"

\n

“It’s been a warmer winter in Europe. We’ve obviously seen some very good news from economic opening – a slightly more bent to market friendly measures in China as they open up ,albeit with a short term cost on the human health component.

\n

“In the States [there is] a very strong labour market and what is likely to be a recession there, but something that is pretty manageable.”

\n

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Martin J. Walsh, the US Secretary of Labor, is telling Davos that America needs immigration reform.

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Speaking on a panel on the future of jobs, Walsh says that the US doesn’t have a good immigration policy right now. He cites the issue of students who come to the US from around the world for a university education – if they’re not lucky enough to get a visa they get sent home.

","elementId":"a61af8e2-14c0-4131-9a3c-5fcd538d5f0a"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Walsh says that when he meets businesses, they raise immigration as an issue – he hopes they will use their voices to raise awareness of the problem.

","elementId":"d71e69bc-14bd-456d-9f2d-a945a53720eb"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

The threat to the US economy in the long term isn’t inflation, it’s immigration, Walsh tells delegates at Davos.

","elementId":"f88d4de1-5ef2-4d50-8dc6-d23d32b2d690"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

He adds that reskilling workers is another priority.

","elementId":"156db01b-d925-4cef-8713-6ff5a45ff661"}],"attributes":{"pinned":false,"keyEvent":true,"summary":false},"blockCreatedOn":1674029759000,"blockCreatedOnDisplay":"08.15 GMT","blockLastUpdated":1674030503000,"blockLastUpdatedDisplay":"08.28 GMT","blockFirstPublished":1674030452000,"blockFirstPublishedDisplay":"08.27 GMT","blockFirstPublishedDisplayNoTimezone":"08.27","title":"US labor secretary says immigration reform needed","contributors":[],"primaryDateLine":"Wed 18 Jan 2023 17.35 GMT","secondaryDateLine":"First published on Wed 18 Jan 2023 07.47 GMT"},{"id":"63c7a6078f0860d08f7c0970","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

In the UK, inflation has dipped to a three-month low of 10.5% last month,

","elementId":"779c78ae-4596-46f6-a584-97a0a8f900ac"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

But in a blow to households, food and drink prices continued to accelerate, rising at the fastest pace since 1977.

","elementId":"b93fae47-0a38-4e95-a513-d601b5041f77"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

My colleague Phillip Inman reports:

","elementId":"badfc106-589b-4b06-8cd9-c9b0a1bd197f"},{"_type":"model.dotcomrendering.pageElements.BlockquoteBlockElement","html":"

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The modest drop in December’s CPI was driven mainly by a significant fall in petrol and diesel prices and a decline in clothing prices growth compared with the same month in 2021.

\n

The ONS chief economist, Grant Fitzner, said petrol fell 8p a litre and diesel prices slumped 16p over the course of December.

\n

","elementId":"b6a0238a-210d-4161-b0cc-293363b5631a"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Here’s the story:

","elementId":"a67f3fff-e2db-4b73-a42c-13997f14ffa2"},{"_type":"model.dotcomrendering.pageElements.RichLinkBlockElement","url":"https://www.theguardian.com/business/2023/jan/18/uk-inflation-dips-people-continue-to-feel-pinch","text":"UK inflation dips slightly to 10.5% but people continue to feel pinch","prefix":"Related: ","role":"thumbnail","elementId":"28c30724-f167-4bd8-b0eb-f01636ce0160"}],"attributes":{"pinned":false,"keyEvent":true,"summary":false},"blockCreatedOn":1674028551000,"blockCreatedOnDisplay":"07.55 GMT","blockLastUpdated":1674028839000,"blockLastUpdatedDisplay":"08.00 GMT","blockFirstPublished":1674028839000,"blockFirstPublishedDisplay":"08.00 GMT","blockFirstPublishedDisplayNoTimezone":"08.00","title":"UK inflation dips slightly to 10.5% but people continue to feel pinch","contributors":[],"primaryDateLine":"Wed 18 Jan 2023 17.35 GMT","secondaryDateLine":"First published on Wed 18 Jan 2023 07.47 GMT"},{"id":"63c7a55c8f08700e2aeb01b3","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

More than 200 members of the super-rich elite are calling on governments around the world to “tax us, the ultra rich, now” in order to help billions of people struggling with cost of living crisis.

","elementId":"8b5f9b49-e7bc-4072-8db8-ffc9e828e227"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

The group of 205 millionaires and billionaires, including the Disney heiress Abigail Disney and The Hulk actor Mark Ruffalo, on Wednesday called on world leaders and business executives meeting in Davos for the World Economic Forum (WEF) to urgently introduce wealth taxes to help tackle “extreme inequality”.

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In an open letter published on Wednesday, they say:

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\n

“The current lack of action is gravely concerning. A meeting of the ‘global elite’ in Davos to discuss ‘cooperation in a fragmented world’ is pointless if you aren’t challenging the root cause of division.

\n

Defending democracy and building cooperation requires action to build fairer economies right now – it is not a problem that can be left for our children to fix.

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","elementId":"afe5c966-643a-47de-81b2-39d69328fdd6"},{"_type":"model.dotcomrendering.pageElements.RichLinkBlockElement","url":"https://www.theguardian.com/business/2023/jan/18/tax-us-now-ultra-rich-wealth-tax-davos","text":"‘Tax us now’: ultra-rich call on governments to introduce wealth taxes","prefix":"Related: ","role":"thumbnail","elementId":"a9de9251-8aea-4e70-853d-ac5afe237681"}],"attributes":{"pinned":false,"keyEvent":true,"summary":false},"blockCreatedOn":1674028380000,"blockCreatedOnDisplay":"07.53 GMT","blockLastUpdated":1674028466000,"blockLastUpdatedDisplay":"07.54 GMT","blockFirstPublished":1674028466000,"blockFirstPublishedDisplay":"07.54 GMT","blockFirstPublishedDisplayNoTimezone":"07.54","title":"Ultra-rich call on governments to introduce wealth taxes","contributors":[{"name":"Rupert Neate","imageUrl":"https://i.guim.co.uk/img/uploads/2017/10/09/Rupert_Neate.jpg?width=300&quality=85&auto=format&fit=max&s=a447829676478c2d83e4329d1cdeabfd","largeImageUrl":"https://i.guim.co.uk/img/uploads/2017/10/09/Rupert-Neate,-L.png?width=300&quality=85&auto=format&fit=max&s=9d2d9c170342c777d46d86af5aca78ea"}],"primaryDateLine":"Wed 18 Jan 2023 17.35 GMT","secondaryDateLine":"First published on Wed 18 Jan 2023 07.47 GMT"},{"id":"63c7a3118f0851381f5b54d5","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Zambia’s finance minister Situmbeko Muskotwane has admitted his country’s protracted debt negotiations are taking longer than hoped and that the delay is preventing the mineral-rich African country from taking advantage of the transition to net-zero.

","elementId":"6cb83bfd-0b9c-452e-bdb1-2acf8a0ee3d8"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Negotiations have been under way since Zambia’s $18b default in 2021 and have been seen as a test case of whether a G20 initiative to ease debt burdens on poor countries can work.

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The International Monetary Fund has provided an assessment of how much debt Zambia could service but there has been resistance from China and private bondholders to the level of debt reduction they are expected to accept.

","elementId":"2c5fce4a-d13e-445d-8452-37acc39a4fef"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

“Negotiations are still going on”, Muskotwane said during an interview in Davos.

","elementId":"e5072e79-6d8c-4de9-8297-97837d18cb84"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Muskotwane tells us:

","elementId":"2a9c5bf1-a3bf-4974-ae70-992e07e26c2a"},{"_type":"model.dotcomrendering.pageElements.BlockquoteBlockElement","html":"

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“They are moving more slowly than I hoped for. But they are still going on and I hope that by the end of the first quarter there could be some positive news.”

\n

","elementId":"57c03156-b132-4f21-ad4c-bee5ec531f3e"},{"_type":"model.dotcomrendering.pageElements.RichLinkBlockElement","url":"https://www.theguardian.com/global-development/2022/sep/02/crisis-hit-zambia-secures-13bn-imf-loan-to-rebuild-stricken-economy","text":"Crisis-hit Zambia secures $1.3bn IMF loan to rebuild stricken economy","prefix":"Related: ","role":"thumbnail","elementId":"e6b5eb1c-694d-4496-bc6d-4b116e9dbdae"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

The IMF is worried about the debt problems facing a number of countries, and thinks China and the private sector bondholders are blaming each other for the lack of progress. An IMF-convened debt round table will take place on the fringes of the meeting of G20 finance and central bank governors in India next month.

","elementId":"9f4d6965-d867-4d98-829c-372a7543ab34"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Muskotwane said the IMF had been clear about the level of debt Zambia could sustain, and that once a deal had been done his government would stick to it.

","elementId":"efa69dd2-b79d-468d-ad8b-5f25632199df"},{"_type":"model.dotcomrendering.pageElements.BlockquoteBlockElement","html":"

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“We want to be a country that when it borrows pays back.”

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","elementId":"735a0b03-5839-42c3-be4b-9b92bf777219"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

He said the world would need Zambia’s resource wealth if it was to make good on commitments to net zero targets, noting that his country was rich in copper, nickel, manganese and cobalt.

","elementId":"f36b0cc0-892f-4215-903d-f15751ae0ee9"},{"_type":"model.dotcomrendering.pageElements.BlockquoteBlockElement","html":"

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“People are looking for green energy and the resources needed are all in Zambia. The challenge is to get investors to help us exploit those resources and get the economy to be stronger.”

\n

","elementId":"b1e89390-e4de-466d-9990-b82a69e2647e"}],"attributes":{"pinned":false,"keyEvent":true,"summary":false},"blockCreatedOn":1674028073000,"blockCreatedOnDisplay":"07.47 GMT","blockLastUpdated":1674028328000,"blockLastUpdatedDisplay":"07.52 GMT","blockFirstPublished":1674028328000,"blockFirstPublishedDisplay":"07.52 GMT","blockFirstPublishedDisplayNoTimezone":"07.52","title":"Zambia debt talks ‘moving more slowly than hoped – finance minister","contributors":[{"name":"Larry Elliott","imageUrl":"https://i.guim.co.uk/img/static/sys-images/Guardian/Pix/pictures/2014/4/17/1397749335083/LarryElliott.jpg?width=300&quality=85&auto=format&fit=max&s=58abc26c8992a5fe974de1d42f3b89dd","largeImageUrl":"https://i.guim.co.uk/img/uploads/2017/10/06/Larry-Elliott,-R.png?width=300&quality=85&auto=format&fit=max&s=e7b230406d755166fb74384c5236e7c2"}],"primaryDateLine":"Wed 18 Jan 2023 17.35 GMT","secondaryDateLine":"First published on Wed 18 Jan 2023 07.47 GMT"},{"id":"63c7940c8f08700e2aeb0147","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Good morning from Davos, where the second day of the World Economic Forum is getting underway.

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Ukraine’s president Volodymyr Zelenskiy will address today’s Annual Meeting this afternoon, by video call, and he’s expected to call for more heavy weaponry to help push Russian forces back.

","elementId":"0877690b-3da4-4677-a430-38ba571d6976"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

This could pile even more pressure on Germany to allow the re-export of its Leopard 2 tanks, with Andrzej Duda, the Polish president, telling Davos yesterday that a positive decision from Berlin was “very, very, very, very needed”.

","elementId":"529ab510-ce0e-485f-9756-e5ba98fa5054"},{"_type":"model.dotcomrendering.pageElements.RichLinkBlockElement","url":"https://www.theguardian.com/world/2023/jan/17/ben-wallace-and-eu-defence-ministers-to-press-germany-over-tanks-to-ukraine","text":"Ben Wallace and EU defence ministers to press Germany over tanks to Ukraine","prefix":"Related: ","role":"thumbnail","elementId":"879ef6fc-95aa-468a-a18b-7d550426a558"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

German chancellor Olaf Scholz will speak before Zelenskiy, the only G7 leader expected to take the stage at this year’s WEF.

","elementId":"1434591c-c375-4abc-9004-b304afbd9adc"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Yesterday, Scholz declared he was “absolutely convinced” that Germany will avoid a recession this year, despite Russia’s energy squeeze.

","elementId":"74723989-41be-4971-96e2-fb9398460c0a"},{"_type":"model.dotcomrendering.pageElements.RichLinkBlockElement","url":"https://www.theguardian.com/world/live/2023/jan/18/russia-ukraine-war-live-pressure-mounts-on-germany-to-send-tanks-chancellor-scholz-due-to-speak-in-davos","text":"Russia-Ukraine war live: pressure mounts on Germany to send tanks; Chancellor Scholz due to speak in Davos","prefix":"Related: ","role":"thumbnail","elementId":"17cf5118-fe56-4ed7-9f61-5b5cdb2f1037"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

Zelenskiy will be followed on stage by Jens Stoltenberg, secretary-general of NATO.

","elementId":"27d9f37f-af4e-42f8-ab6c-005fc75c336a"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

As we blogged last night, former US Secretary of State Henry Kissinger said Ukraine joining NATO could be an “appropriate outcome” of Russia’s invasion, as he reiterated his call for a negotiated solution to the conflict.

","elementId":"b44afb3c-d253-420b-b323-65b7dd09bdd1"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

“The idea of a neutral Ukraine under these conditions is no longer meaningful,” Kissinger, 99, told WEF delegates by video link.

","elementId":"6a0d38fd-808e-4627-8a0a-d1277312f3b8"},{"_type":"model.dotcomrendering.pageElements.TweetBlockElement","html":"

Kissinger says Ukraine should be in @NATO but warns that destroying the Russian state would open "its 11 time zones to internal conflict and to outside intervention…when there are 15,000 and more nuclear weapons on its territory." @Watchjen @CNBCi https://t.co/LM0wN5Ubqu

— Ted Kemp (@TedKempCNBC) January 17, 2023

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Ukraine’s First Lady Olena Zelenska made a surprise appearance here yesterday, urging political leaders and chief executives to use their influence to help her country.

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Zelenska brought a letter from her husband for China’s Xi Jinping (to be taken back from Davos by Chinese vice-premier Liu He), plus letters for European Commission President Ursula von der Leyen and Swiss president Alain Berset.

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🌐🇨🇭Davos 2023: Ukraine's first lady told the World Economic Forum on Tuesday she would deliver a letter to China's delegation setting out President Volodymyr Zelenskiy's proposals for ending Russia's war against his country. #ukraine #china \\\\ Reuters \\\\ https://t.co/cMjPbyyysO

— eric (@kinolina) January 17, 2023

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Zelenska warned delegates that the war “could go further” unless Russia is stopped.

","elementId":"7ec4f12d-d6e4-4684-8595-a19ac78b2750"},{"_type":"model.dotcomrendering.pageElements.RichLinkBlockElement","url":"https://www.theguardian.com/business/2023/jan/17/ukraine-world-economic-forum-davos-first-day","text":"Ukraine urges world leaders to intensify war efforts on first day at Davos","prefix":"Related: ","role":"thumbnail","elementId":"7b197e1b-fe41-49d5-af60-9d34da505848"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":"

António Guterres, Secretary General of the United Nations, also addresses the annual meeting today. He may focus on the climate crisis. Last weekend Guterres called for a renewable energy ‘revolution’, saying this was the only credible path to avoid climate catastrophe.

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If we want to avert climate catastrophe, renewables are the only credible path forward.

Only renewables can safeguard our future, close the energy access gap, stabilize prices and ensure energy security.

— António Guterres (@antonioguterres) January 14, 2023

\n","url":"https://twitter.com/antonioguterres/status/1614155481072771072","id":"1614155481072771072","hasMedia":false,"role":"inline","isThirdPartyTracking":false,"source":"Twitter","elementId":"38f9401b-0a5c-4952-9a70-10b739367ac3"},{"_type":"model.dotcomrendering.pageElements.SubheadingBlockElement","html":"

The agenda

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10.00am Davos / 9am GMT: Global Cybersecurity Outlook 2023, with Interpol secretary-general Jürgen Stock, Accenture’s CEO Julie Sweet, and Nikesh Arora, CEO and chairman of Palo Alto Networks

11:15am Davos / 10.15am GMT: Special Address by António Guterres, Secretary General of the United Nations

3:45pm Davos / 2.45pm GMT: Special Address by Olaf Scholz, Chancellor of Germany

5pm Davos / 4pm GMT: Special Address by Volodymyr Zelenskiy, president of Ukraine

5.15pm Davos / 4.15pm GMT: Restoring Security and Peace, with Andrzej Duda, president of Poland; Jens Stoltenberg, Secretary-General NATO

6.30pm Davos / 5.30pm GMT: Uk-Ukraine-Swiss press conference on the Ukraine recovery conference, with UK business secretary Grant Shapps

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Key events

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