Davos Day 2: Zelensky, Scholz, Stoltenberg and Guterres at WEF – Business Live | Work

In the UK, inflation fell to a three-month low of 10.5% last month.

But in a blow to households, food and beverage prices continued to rise, rising at their fastest pace since 1977.

My colleague Phillip Inman reports:

The slight drop in the consumer price index in December is mainly due to the sharp drop in gasoline and diesel prices and lower clothing price growth compared to the same month in 2021.

ONS chief economist Grant Fitzner said petrol prices fell by 8p a liter during December, while diesel prices fell by 16p.

Here is the story.

The ultra-wealthy call on the government to introduce a wealth tax

Rupert Nate

Over 200 members of the ultra-rich call on governments around the world to ‘tax us, the ultra-rich, now’ to help billions of people struggling with the cost of living crisis I’m here.

A group of 205 millionaires and millionaires, including Disney heiress Abigail Disney and Hulk actor Mark Ruffalo, attended the World Economic Forum (WEF) in Davos on Wednesday. “Extreme inequality” for leaders and corporate executives.

In an open letter published Wednesday, they said:

“The current lack of action is a serious concern. It makes no sense to discuss ‘cooperation in a divided world’ at the ‘Global Elite’ meeting in Davos without challenging the root causes of division.” .

Protecting democracy and building partnerships requires action now to build a fair economy. This is not a problem that can be left to children to solve.

Zambia debt talks ‘going slower than expected – finance minister’

Larry Elliott

Finance Minister of Zambia Situmbeco mascot twain He acknowledged that the country’s protracted debt negotiations have been taking longer than expected and that delays are preventing mineral-rich African countries from taking advantage of a net-zero transition.

Negotiations have been ongoing since Zambia’s $18 billion debt default in 2021 and have been seen as a test case for whether the G20 initiative to reduce the debt burden of poor countries would work.

The International Monetary Fund provided an assessment of how much debt Zambia could service, but there was resistance from Chinese and private bondholders over the level of debt relief they were expected to accept.

“Negotiations are still ongoing.” mascot twain said in an interview at Davos.

mascot twain teach:

“They are moving more slowly than I would have liked.

The IMF is concerned about the debt problems facing many countries and believes that China and private sector bondholders are blaming each other for lack of progress. The IMF-convened debt roundtable will be held around the G20 financial and central bank governors meeting in India next month.

Muskotwane said the IMF was clear about the level of debt Zambia could sustain and that the government would stick to it if a deal was reached.

“I want to make a country where you can borrow and return”

He said the world would need Zambia’s abundant resources to deliver on its net-zero goal commitments, noting that his country is rich in copper, nickel, manganese and cobalt. .

“People want green energy and all the resources they need are in Zambia. The challenge is getting investors to help harness those resources and strengthen the economy.”

Good morning from Davos as the second day of the World Economic Forum begins.

president of ukraine Volodimir Zelensky This afternoon, I will address the Annual General Meeting via video call and call for more heavy weapons to push back the Russian army.

This could put more pressure on Germany to allow the re-export of the Leopard 2 tank. Andrzej Dudathe Polish president said yesterday at the Davos meeting that a positive decision from Berlin is “very, very, very, very necessary”.

german chancellor Olaf Scholz Speaking in front of Zelenskiy, the only G7 leader expected to appear at this year’s WEF.

Yesterday Scholz declared that he was “absolutely certain” that Germany would avoid a recession this year despite Russia’s energy shortages.

Zelensky then go on stage Jens StoltenbergNATO Secretary General.

As I mentioned in last night’s blog, the former US Secretary of State Henry Kissinger It said Ukraine’s entry into NATO could be an “appropriate outcome” of Russia’s aggression, and reiterated calls for a negotiated settlement of the dispute.

“The idea of ​​a neutral Ukraine under these circumstances no longer makes sense,” Kissinger, 99, told the WEF delegation via video link.

First Lady of Ukraine Olena Zelenska He suddenly appeared here yesterday, urging political leaders and chief executives to use their influence to help their own countries.

Zelenska In addition to a letter from my husband to China’s Xi Jinping (which China’s Vice Premier Liu He will bring back from the Davos meeting), I also have a letter to European Commission President Ursula von der Leyen and Swiss President Alain Berset. brought.

Zelenska warned delegations that the war “could go further” unless Russia was stopped.

Antonio Guterres, the Secretary-General of the United Nations will also address today’s Annual General Assembly. He may focus on the climate crisis.last week Guterres It called for a “revolution” in renewable energy, saying it was the only reliable way to avert a climate catastrophe.

agenda

• 10am Davos / 9am GMT: Global Cybersecurity Outlook 2023, Interpol Executive Director JuergenstockCEO of Accenture Julie SweetWhen Nikesh AroraCEO and Chairman, Palo Alto Networks

• 11:15am Davos / 10:15am GMT: Special Address by Antonio GuterresUnited Nations Secretary-General

• 3:45pm Davos / 2:45pm GMT: Special Address by Olaf ScholzGerman Chancellor

• 5pm Davos / 4pm GMT: Special Address by Volodimir ZelenskyPresident of Ukraine

• 5:15 PM: Restoration of security and peace Andrzej DudaPresident of Poland. Jens StoltenbergNATO Secretary General

• 6:30pm Davos / 5:30pm GMT: UK, Ukraine and Switzerland Press Conference on Ukraine Reconstruction Conference with UK Secretary of Commerce forgive Shaps