The Internet is more resilient to the economic downturn than other industries, Eric Schmidt, Executive Chairman of Google told CNBC in Davos on Thursday, and it will continue to create opportunities for “alarmingly interesting” things
It is “inevitable” that Facebook will go public and when it does it could be “the largest offering in history,” said Sean Parker, the first president of the social-networking site, in an interview with CNBC at the World Economic Forum in Davos.
It might sound heretical for a leader of a communications firm to suggest it, but lately I’ve been thinking that a lot of big brands and companies should take a vow of silence.
Not forever, but at key moments in time.
In this era of radical transparency, rather than trying to explain what you’re doing to fix a problem or poor performance or disappointing service, put all of that energy into fixing it first. Let people see the difference, then call in the communicators to amplify the actions you’ve taken.
Fortunately I’ve seen more and more companies coming to this realization: actions trump words and actions must precede words to have credibility.
The theme this week at the World Economic Forum Annual Meeting in Davos, Switzerland, is “The Great Transformation: Shaping New Models.” The delegates at the meeting will discuss new models for multi-stakeholder action on everything from sustainability to world peace.
Moving closer to home, I hope that corporate leaders and those of us in communications can agree that our best model is one that puts action on the front end of the process, followed by communication with customers inviting them to experience again the service or product and then use communications to amplify that experience and build advocacy at scale. Particularly at a time of high unemployment and economic divides, the public has little to no patience for companies that try to talk their way out of a mess before taking real action. It’s time to do the right thing and then, with humility, communicate about it.
Despite reports suggesting that Iran is considering a halt to all oil exports to Europe as a response to European Union and US sanctions, the head of energy watchdog the International Energy Agency said that releasing reserves under its control is not something under consideration now.
Maria van der der Hoeven, the executive director of the IEA told CNBC on Thursday that "releasing strategic reserves would only be a question if there is a real and serious disruption of supply. And that is not the case at this moment."
Investors underestimate just how positive an effect the European Central Bank's move to flush the market with liquidity has had on banks in Europe, Huw van Steenis, head of European, Middle Eastern and African banks and financials research at Morgan Stanley, told CNBC on Thursday.
The EU should build up more resources for a firewall around Greek debt, Sweden's Finance Minister Anders Borg told CNBC at Davos Thursday.
"We need to see some further progress when it comes to building up resources in the euro zone \(to contain the Greek debt crisis\)," he said, as talks on the resolution of Greece’s debt crisis continued.
The Federal Reserve’s announcement on interest rates was welcomed by business leaders in Davos Thursday morning — but there is still nervousness about the future of the U.S. economy.
Consumer demand for media technology is strong, and small- and medium-sized businesses will be a growth area for media technology in the next few years, the chairman and CEO of Comcast told CNBC Thursday.
The impact of a Greek default on American banks would be negligible, JP Morgan Chase CEO Jamie Dimon told CNBC on Thursday, and while there are chances of a bad outcome in Europe, he is not concerned about unpleasant surprises in the region.
Growth in Central and Eastern Europe hinges on developments in the euro zone and a slowdown in the CEE region is already underway, European Bank for Reconstruction and Development (EBRD) chief economist Erik Berglof told CNBC on Wednesday.