Margareta Drzeniek-Hanouz, head of global competitiveness & risks at World Economic Forum, says productivity-enhancing reforms will resolve the new normal that's characterized by a shortfall in productivity.» Read More
Another batch of the riskiest mortgage-backed securities once owned by the American International Group are being auctioned off this week, according to two people familiar with the matter, a sale that would bring the insurance giant’s 2008 meltdown once step closer to a resolution.
Greece once again appears on the verge of reaching a deal with its private-sector creditors on how much of a loss they would be willing to accept on their bond holdings, The New York Times reports.
The demand for energy is expected to double in the next 40 years globally, as populations grow and access to electricity increases, yet a large-scale, safe alternative to fossil fuels has yet to be built.
"I am convinced we can avoid a Greek default," Wolfgang Schauble, Germany Federal Minister of Finance tells CNBC's Maria Bartiromo. "We are trying to do a growth friendly deficit deduction," he adds. Oilli Rehn, European Commissioner for Economic and Financial Affairs, also weighs in.
During Europe's financial crisis the European Central Bank has been "an anchor of stability and confidence," former president Jean-Claude Trichet said.
Volatility has become a way of life, but people still have to eat. That's why sales at Dupont's agricultural businesses, including seed and insecticide, have been strong, according to CEO Ellen Kullman.
Anthony Scaramucci, Skybridge Capital, shares takeaways from Davos.
A deal with private investors to swap Greece's debt to a more manageable burden is close to being concluded and the next three days are crucial, Olli Rehn, the European Union's monetary affairs commissioner, said during a debate hosted by CNBC in Davos.
The biggest risk brought on by the euro debt crisis is "Balkanization" – the fragmentation of economic interests according to narrow, mainly national criteria, UK Chancellor George Osborne told CNBC Friday.
Even as Greece tries to convince creditors that its debt-reduction efforts are on track, gloomy new IMF forecasts about its long-term economy are threatening to derail talks meant to secure the nation’s next big installment of bailout funds. The New York Times reports.
The euro has fundamental flaws, with no room for flexibility and Europe needs to move towards a political union as the euro cannot survive in its current format, Dr Gerard Lyons, chief economist at Standard Chartered told CNBC on Friday at the World Economic Forum in Davos.
Proposals for a tax on financial transactions in the euro zone will become reality, Wolfgang Schaueble, Germany’s finance minister, told CNBC at the World Economic Forum in Davos Friday.
Where is Greece's Papademos? Where is Mario Monti? What happened to the prime ministers of Spain and Portugal? Were they not invited to the Davos Summit? Surely, they were.
"There is a time to be private and a time to be public," says Yuri Milner, Mail.ru Groupco-founder/CEO, I think companies like Facebook and Groupon are transformational companies. He continues, "you don't come across them very often and I think they can continue to grow for a long time even being public."
Despite natural gas prices falling to near 10-year lows last week, Shell's CEO Peter Voser says demand for gas will be much higher than oil in the long term with the Asia-Pacific region driving the sector's growth.
This is a live blog from "The Future of the Eurozone," an event at the World Economic Forum in Davos, Switzerland, in which our panelists will debate the question, "How will the Eurozone economies emerge from the euro crisis?"
There is still a long, hard struggle ahead to fix the U.S. and Europe’s economies, Larry Summers, the Harvard University professor and former Treasury Secretary, told CNBC at the World Economic Forum in Davos Friday.
The European Union's Commissioner for Competition dismissed criticism that moves to block the merger between NYSE Euronext and Deutsche Boerse were indicative of a Europe-wide problem of being too difficult on regulation.
"Europe needs a two-speed euro," Dr Gerard Lyons, chief economist at Standard Chartered, said on CNBC, "You don't have any room for flexibility, any room for manoeuver and that's why here at Davos, one of the big worries that people have is that this European problem is going to run."
The decision by the U.S. Federal Reserve earlier this week to keep interest rates near zero through 2014, is going to likely have an impact on industries like insurance that depend on investment income.