Amid fears that go-it-alone moves such as President Barack Obama's plan to break up big banks will further hamper the fledging economic recovery, finance ministers and central bankers from the Group of Seven major industrial countries meet.
Wall Street will keep a cautious eye on Europe in the week ahead, as the global credit crisis proved it still carries a potent sting for markets.
Why would you ever want to be President? Everyone who comes to the job does so with some vision and dream and quickly has to learn how to dance the dance if anything is to be done. It's harder now than ever with the accumulated debt we have built up.
Catch me if you've heard this one before. A global crisis emerges from some obscure country, and the VIX surges by some mind-boggling amount.
Case in point, it seems the IMF is the only body that may have the legal capability to assist these countries in their time of need. This reminds me of something, what is it?
There was an agreement that banking regulation and reform was important, but no real plans on what to do.
President Barack Obama's plans to regulate and limit the size of banks is the "right direction," said Vikram Pandit, CEO of Citi, since the company has been weeding out companies that didn't fit into the company already.
Government regulators from the U.S. and Europe laid out their financial reform plans Saturday before a skeptical banking industry, asking financiers for input but adamant that change was coming with or without their support.
Yvo de Boer, executive secretary of the UN Framework Convention on Climate Change, called climate change "an economic agenda rather than a green agenda [that] needs to be explained more clearly that this is about energy security and jobs going in a different direction.”
The booming economies of China, India and Brazil are in the spotlight, while those of Europe, Japan and the U.S. look dull and weak.
Euro zone member states must meet their commitments on budget stability and cannot be bailed out by the euro zone, French Finance Minister Christine Lagarde told CNBC in Davos on Friday.
The tax on banks proposed by President Barack Obama is likely to become law, while a proposal to set up a fund for unwinding troubled financial institutions has little chance of succeeding, Rep. Barney Frank, D-Mass., told CNBC Friday.
Officials in Davos should try to reach a global consensus about the need for a new regulatory regime for banks, Nobel Prize laureate Joseph Stiglitz told CNBC Friday.
The current levels of budget deficits in both Europe and the U.S. are not sustainable and Europe's economic recovery will only be modest, European Central Bank President Jean-Claude Trichet told CNBC Thursday.
Applied Materials CEO Michael Splinter cited strong demand in Asia and in the semiconductor business, offering an “optimistic” outlook on business conditions.
President Barack Obama's proposals to impose a levy on large banks would only work if it was agreed globally and financial regulations set out at the G20 summit should be put in place first, UK Chancellor of the Exchequer Alistair Darling told CNBC Thursday.
The global slowdown has caused a radical change in the way people buy and use products, but fast-moving consumer goods like Coca-Cola are less impacted by the change, Muhtar Kent, CEO of the Coca-Cola Company, told CNBC Thursday.
The world debt overhang is threatening the world recovery, because markets will realize at some point how risky it is and the yields on bonds will increase, Niall Ferguson, professor of history at Harvard University, told CNBC Thursday.
Withdrawing economic stimuli and tightening monetary policy are difficult choices, but asset bubbles are cropping up, Nouriel Roubini told CNBC in Davos.