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Tim Clark, President of Emirates Airlines, told CNBC, "In many respects it has been a very good story, the problem of course has been the cost of fuel which for over eleven months in the financial year we did not pass on to our customers and more recently we've had to do that."

Judd Gregg, Fmr Republican Senator and International Advisor at Goldman Sachs, told CNBC, "You can't solve our problems by adding more government, the simple fact is that what France has done and Greece has done is try to address a problem where they have massive debt that they can't pay off by electing governments who have more debt."

The Olympic torch is lit in a ceremony in Ancient Olympia. After a short relay around Greece, it will be flown to Britain a week tomorrow to be carried around the country by a succession of torchbearers. Finally, it will be used to light the cauldron at London's Olympic Stadium during the opening ceremony on July 27.

Anne MacColl, CEO, Scottish Development International, told CNBC, "Scotland is now renowned as a renewables powerhouse in Europe; we have a great deal of government interest and corporate interest in what we are doing in the renewables space in Scotland and that is creating a real head of steam and a real dynamism there."

Mohit Arora, executive director at J.D. Power and Associates, told CNBC, "I think this will definitely be a very defining year for Toyota in many ways of course there is a turnaround story that is already in place we are all hearing about it, the story is still unfolding, part of the success is also favourable market winds."

John Donahoe, CEO of EBay, told CNBC, "Because of technology with PayPal here, with this simple card reader all a small business in Japan needs to do is be able to plug this into their smartphone and they can now receive credit cards something that was difficult and expensive for them to do before."

Tidjane Thiam, CEO of Prudential, told CNBC, "We are very pleased with this set of results, a new business profit is our primary measure of growth, not sales, and we are really driving the business based on new business profits up 22 percent year on year after 2011 which was a record year."

Jorgen Buhl Rasmus, CEO of Carlsberg, told CNBC, "The underlying dynamics in Russia is quite positive if you look at consumer dynamics the macro economy is quite positive what you really see coming through in our numbers would be the de-stocking after we had the duty increase on beer."

Marion King, CEO of Mastercard UK and Ireland, told CNBC, "Mastercard is leading innovation here because there are lots of different systems and channels out there and what Mastercard is doing is joining them up, this is an overarching infrastructure that allows other wallets and other cards and accounts to come into the Mastercard pay pass wallet."

Ken Kamen, president of Mercadien Asset Management, told CNBC, "Bank deposits are really up as far as the bank balance sheets go, banks are probably in the best position in the US then they have been in in decades, they certainly got the wakeup call being the epicenter of the problem in 2008."

Thomas Averill, managing director at Rochford Capital and Annette Beacher head of Asia-Pacific Research at TD Securities, joined CNBC to discuss the Australian budget.

Chris Tinker, founder at Libra Investment Service, told CNBC, "What Carlos Slim has identified clearly is if he is going to be expanding into Europe, is that KPN is an extremely undervalued asset."