a somber davos but a far more somber america. lisa: after one of the most deadly shootings at a school in the nation's history, yet another one, how many times do we have to do this? we are talking about the big issues and how investors rearrange money, what about the social aspects that led to this kind of outcome? tom: we have someone who's challenged modern economics and social thinking and she spoke of it and said these repetitive processes are there and we are looking for the courage to finally exit. lisa: 18 children have lost their lives as a result of the shooting and one teacher as well as the gunman step markets are still turning as they try to figure out what the road ahead is. you are seeing the global economy reflected in number of data points yesterday step you are seeing softening and that praising in on the margins. tom: i thought at the end of our show yesterday, it was more than softening. i noted that oil is $115 per barrel. lisa: those products are getting to such heights that they are crimping consumers abili

guests in davos told us about the rise in inflation. let's listen to their views. >> our estimate is wage inflation will stablize soon it'll be higher than prepandemic but thinking about wage inflation in different parts of europe, if it's at 6 or 7 or 5% like in france, it should come down to a 2 or 3% level towards the end of the year. >> covid has been now completely wiped out as a global concern, unless you're in china in lockdown, and instead it's all about inflation. in the uk concern about inflation is now at a 40-year high and i think the challenge is, when you look at consumer expectations yes, as we said, inflation will rise, but when we go into the detail for the central banks and look at how much they think prices are going to rise, they don't know what's going to hit them. >> we have to convince consumers and our clients because the clients and consumers by now know what's happening in the world. as for global supply chain but they can't afford, let's say, more than 15, 20. so could be up until 10% but i don't think the end

kelly o'grady in davos this week. stay with us. the next hour of "mornings with maria" begins right now. ♪ maria: good wednesday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo. it is wednesday, may 25. your top stories right now, 7:0e east coast. today, tragedy strikes texas, 19 elementary school children and two teachers now confirmed dead after an 18-year-old gunman opened fire inside of a texas school. two children are still missing. texas attorney general ken paxton will be here, he will join me at 7:15 a.m. eastern to weigh in on the tragedy. he will tell us more about his victory over george p bush in the primaries yesterday. more on the primaries, stacy abrams winning the nomination for governor in georgia after she slammed her state saying it was the worst place to live, herschel wins the spot to take on raphael warnock in november and sarah huckabee sanders secured the gop nomination for governor. markets are fractionally lower. dow industrials down 82 points shall s&p 500 lower by

we are looking at pictures live from davos right now and kelly o'grady is live on the ground in davos with more. kelly, good morning to you. >> reporter: good morning, maria. i guess i should say good afternoon here. this marks the first time in two years that the world economic forum conference is back in person. it's the 50th anniversary of the gathering. this year it's a tale of two davoss, the billionaire swiss retreat and ukrainian nation pleading for salvation. davos is owe. known as a symbol forprogress, d ticket in business. the biggest themes are the climate crisis, the economy and he global cooperation. beyond what happens at the conference, the town transforms as well. everywhere you look, this quaint mountain retreat is overrun by black cars and a tight security, the store fronts taken over by innovative companies in countries luring investors. this celebration of progress is in stark opposition to another davos, one that grapples with the hard reality of the war in ukraine. president zelenskyy is seeking $5 billion per month of funding, emphasizing the need for greater sa

i was with him at the last davos. with newcastle coal in australia to the moon, global warming has taken a backseat, climate change. lisa: suddenly getting as much oil and gas as possible is what is invoke. tom: we will do a lot on economics on international relations, but we cannot ignore the market turmoil. we start strong with the senior portfolio manager of offspring, global investments who has seen this before. thank you for joining us on short notice. what is different this time about a record pullback in bonds , price down, yield up? >> that's right. actually there has not been any place as far as a safe haven. if you look at corporate bonds, investment grade, junk bonds, even treasuries, everything is down about 10% to 12% total rate of return. there's really been no place to hide so far. lisa: how do you get optimism amid the stomach turning volatility you have been seeing? margaret: i think what has happened is the fed, having been sort of comatose when rates were low, the data signals were starting, has now

she spoke to bloomberg in davos. she said there's no need to panic the bank of france governor insisted there is no consensus for a half-point interest rate hike. kansas city fed president expects the bank to raise interest rates to 2% by august. after that more tightening will be guided by how fast inflation cools off. j.p. morgan chase and ubs have downgraded their forecast for china's economic growth this year. both citing the impact of beijing's covid restrictions. j.p. morgan reduces its estimate for china's growth from 4.3% to 3.7%. russia's war against ukraine has made a global food crisis work but moscow is amongst the biggest winners of the nest. helping send weight prices to near record highs. russia keeps shipping it's wheat a higher price. -- an agreement could be reached in the coming weeks. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is bloomberg. ♪ don't like surprises? [ watch vibrates

leaders are in davos. francine lacqua spoke with a ceo. >> the high inflation shocks that we have seen, it is clear that people are in restock mode. but we think there will not be a recession. there will be a slow down, but -- at 2.94, they have come down. if you look at certain markets, high yield markets, they have come under pressure. francine: and under pressure they get crazy? thomas: they have been pretty quiet, but are bottom line is, do not panic. they look at housing development. that is important for our clients. we stay in front of the client. that is what i am focused on. francine: you are not seeing any outflow, still fully invested? thomas: it is leveraging, as far as their assets, the management going down, prices going down, there is leveraging in asia. [indiscernible] have not gone down, but no outflows. francine: does it hurt your ability to collect in certain parts of the market for your wealthy clients or not so much? thomas: if you look at our revenue streams, inserts have come under p

kelly o'grady in davos this week. coming up, a tanking market, the 50 richest people in the world losing more than half a trillion dollars combined. we break down how much each individual lost in the hot topic buzz when we come back. ♪ big game today! everybody ready? alexa, ask buick to start my enclave. starting your buick enclave. i just love our new alexa. dad, it's a buick. i love that new alexa smell. it's a buick. we need snacks for the team. alexa, take us to the nearest grocery store. getting directions. alexa will get us there in no time. it's a buick. let's be real. don't make me turn this alexa around. oh my. it's painful. the buick enclave, with available alexa built in. ask “alexa, tell me more about buick suvs.” desert mountain energy, an advanced development company with helium, hydrogen and noble wigas assets, is looking toin. capitalize on the historically high cost of helium, an element critical to healthcare, the high-tech industry and green initiatives. desert mountain energy is currently de

i'll see you in davos. so, while some of the richest people discuss the big problems affecting millions of us in davos, what is the impact of all of this change on living standards around the world? well, jobs jobs are arguably the most important thing in determining those living standards. so, i've been speaking to the big boss of manpowergroup. it's one of the world's biggest employment agencies. and last year it found work for two million people in 75 countries. jonas prising, my friend, thank you so much for your time. jonas, let's start with this, because looking at your latest numbers, it does seem to be a pretty good time to be looking for a job. so i'm just wondering, what are the biggest trends you're seeing in the employment market at the moment? well, thanks, aaron. what you're seeing here is a continued very strong labour market across the world where we've bounced back from the difficulties during the pandemic. and in most parts of the world, we are now back to the employment levels we saw befo

it's a rare appeal for more social justice here at the world economic forum in davos. before we go, e commerce is going i r l, that's in real life. online retail giant amazon has opened its 1st in person clothing store near los angeles. it's calling it amazon style a store, uses machine learning and palm recognition to provide customers with recommendations and fast checkouts. last year i was actually edged wal mart out of the top spot for the largest clothing retailer in the united states. and that's all for me in the business team here in berlin from all from his head to our website, tito, it com slash business goodbye ah . into the conflict zone with sebastian little is known about the inner workings of the kremlin, especially with vladimir putin in power of my guest this week for the premier, somebody called customer what on the phone. and he knows what happened behind the closed door with the russian government, a comp with on d. w. bad batter, fat money. the food industry in staggering sums of money from junk food. and obesity is becoming a global health problem.

from the world economic forum in davos, a very different davos this year in may, not in january. i have been stunned at the changes. i did not expect the difference in energy, the ballet of beautiful may morning. lisa: it's very different from tripping over the ice and dealing with snow and freezing. it's a very different moment in wall street. on the heels of the pandemic, a quieter davos one that is also more serious and focused. tom: you brought it up earlier. it's not a davos of catharsis out there or emotion. it's the slog in interest rates and the worries about recession. lisa: and a changed geopolitical landscape to highlight the fact that russia is not here and all that entails. what does it mean to be globalized in a world where people are trying to find how to get things quickly and reliably despite some of the disruptions? tom: -- was walking by the and he was deglobalized. we will take a quick look at markets. lisa: christine lagarde came out in a note and basically was saying that she sees getting to eroding the negative yielding policies by the end of september and

here at the world economic forum in davos. before we go, e commerce is going i r l, that's in real life online retail joined. amazon has opened its 1st in person clothing store near los angeles. it's calling it amazon style. they store uses machine learning and palm recognition to provide customers with recommendations and faster checkouts. last year, i was actually edged wal mart to out of the top spot for the largest clothing retailer in the united states. that's all for me and the business team here. berlin from all from us had to our website, tito, it com slash business, goodbye. ah ah, she is the epitome of european royalty. but to the vast majority of her britain, she has always just been her majesty. elizabeth, the 2nd is celebrating 7 decade on the throne. and we find out just what people think of her focus on europe next on d. w into conflict zone to sebastian little is mon, or bobby, in the workings of the kremlin, especially with vladimir putin in power. but my guess this week, for before i move from the fall, casti

he thinks davos can help. translation: this year the conference will be especially important for our country, post—war reconstruction will be discussed, we are doing our best to fully gather the support of the world. participation in the davos forum is one of the best opportunities for that. some important people do seem to see value in davos, coming at a time of huge challenges for the global economy. what does the man who founded the gathering in the early 1972 think it can do to make the world a better place? always a pleasure having you join me, clauss. i am wondering if there are one or two problems in particular that keep you awake at night? four two problems in particular that keep you awake at night?— you awake at night? four or even five main challenges _ you awake at night? four or even five main challenges keep - you awake at night? four or even five main challenges keep me - you awake at night? four or even five main challenges keep me up| you awake at night? four or even l five main challenges

labor market in davos, switzerland. this is "bloomberg surveillance, " live on television come on radio. jon ferro is off. we are broadcasting live as people empty out. the gloom is lifting and we are about to get a read on the labor market that is presenting a real conundrum for people looking for gloom. tom: you are dead on. there's been a lot of crosscurrents here. all of it comes back to the labor market and the weekly data of claims is critical. lisa: i think it is what people are looking at a time when they are trying to figure out if people are exuding the labor market, whether it still has a tightness that it once did, and we are getting a series of possibly brighter forecasts from retailers like macy's where people are still spending. how do you cross tale that into all of the negativity here in davos and beyond? tom: could you talk? my throat is gone because of the fondue last night. it was just too much. lisa: what was it again, val vita -- again, the lita -- again,velveeta? [laughter] we have a big crew help

is there enough unity here in davos for that? at the moment there is, but the real problem that we face in here in java says that we're going to be at this war probably for a long time. there's going to be a situation where, you know, 66 months or a year from now, people are going to be suffering from higher oil prices, higher gas prices, higher food prices. and they're going to be less concerned about watching these atrocities on their screen and more concerned about paying their bills. and then the best question is. ready with unity maintain ukraine feeds the world in europe, spread pass. good. i mean, surely stopping the war would solve this, this looming food crisis. there's no question and it's not just europe anymore. we also have india, bangladesh, egypt, many countries in africa that are all completely dependence on food and there will be countries, there are probably more deaths in, in africa, from starvation than there will be deaths from russian bombs in ukraine. and the real irony is, is that the whole world is not su

. -- davo's. -- davos. thank you for your unprecedented leadership in challenging times. [applause] i think the war in ukraine has put in a nato front and center of the discussion on the future of security and stability in europe. as a result, finland and sweden have formerly -- formally applied to join the alliance, and next month nato leaders will meet to agree on the strategic priorities for the alliance for the next decade. it is therefore my great pleasure to invite you to the stage to share with our audience here in davos, and globally, the impact of the war in ukraine and the long-term implications on the world of strategic competition. welcome, mr. secretary-general. [applause] >> many thanks. it is great to be back here in davos and see you all in person after two years without this gathering. for half a century the world economic forum has brought the global community together to exchange ideas, insights, and solutions. on some of the world's most difficult problems. today we need the spirit of da

it is a nuanced davos. how about that? tom: i look distracted davos. they are distracted by a lot going on. we got the president of the united states this afternoon on bloomberg. again, david westin and "balance of power" with a difficult show at 12:00 noon. coming up, the gentleman from cisco, an annual visit with chuck robbins. stay with us. from davos, on radio and television, this is bloomberg. ritika: keeping you up to date with news from around the world, with the first word, i'm ritika gupta. it is the deadliest shooting in almost a decade and a school. a teenage gunman opened fire at an elementary school in uvalde, texas, killing at least 19 children and two adults. a number of others were wounded. law enforcement later killed the 18-year-old attacker. investigators are examining whether he made statements online alluding to the attack hours before it began. china's military has sent a warning to taiwan and the u.s. it conducted aerial and naval exercises around the island after president biden said the u.s. would intervene the military to defe

now let's cross over to our very own benfor. sewland in davos. been how confident are people where you are that europe's biggest economy will make this transition, this shift away from russian fossil fuels in a rather short time. and the experts i've spoken to here. christoph say they can do it even quicker. it was interesting to hear what shots had to say there, that person is pushing us towards carbon neutrality. that's the fact we were seeing . the 2nd wind for the renewables sector, and one of the bosses and a danish company best as the biggest wind turbine maker in the world, said that russia's missing out big time. that there's a huge, vast wind resource there that i can be tapped into. and they were building to huge factories there with hundreds of workers, but they've had to pull out because of the war. they're re focusing on ukraine where they were already building a wind turbines. and a saying that you crank could become germany's new energy partner. and it could also become a green energy partner for the whole of europe when talking ab

it's a rare appeal for more social justice here at the world economic forum in davos. and here's a reminder of the top of business story. we're all following for you at the sour social media shares and criptos falling off a cliff and recent days with markets reflecting fear over regulation and rising interest rates and billions lived out in acids value. it's all for me and the business team here in berlin for more checkout website. that's d, w dot com slash business. and of course the w news, youtube channel. we're also on facebook. i'm chris kolber on berlin. thanks for watching. have yourself a successful with ah, with ah, oh, it's rule and we wonder which industries are profiting from it? are we on the verge of a global upheaval? and what would that mean? let's take a closer look. with me in germany. 90 minutes on d. w. lab has no limit, love is for everybody. love is live with love matters and that's my new podcast. i'm evelyn sharma. and i really think we need to talk about all the topics that north divide and denied this. i have invited many deer and well known g

in davos, so they determined to do something about that. while some meet in the well guarded congress center and davos others are taking the railway up the mountain to be able to talk to each other undisturbed. they are the social innovators and social justice is what they're striving for. someone who has been feeding us to remain hungry. someone who has been making houses for us to remain homeless. so there's something fundamentally dull. and maybe that is that even in the quality's going, some are losing patience with those in power. those meeting here in davos who we need to address hunger, not only on the micro level, not only on the, you know, the corporate level, but also the grassroots solution. because the guys little solution are much faster, is the respond to the problems, you know? well probably they still talking about the planning, we're to get them. some of the most dedicated social innovators are being recognized for their work by the swiss shrub foundation. and they plan to bring up issues that often get little attention has

and there will be a january davos. i'm going to have a lot of fun because with headlines on the new york state thruway, general electric is in schenectady and for up to the west was a landmark for my ute. when you drove down the turnpike from searches -- from syracuse, new york, they were a mighty presence. the chief executive officer of carrier global, you guys and president trump knows this had to make not a tough decision but what's significant about carrier is the set of tough decisions over 30 years to compete domestically and compete globally, what have you learned from it as an institution? >> we learned the work should be where the work should be and we been increasing jobs significantly in the united states but we been upscaling by adding digital and engineering and manufacturing jobs in the united states. we have work in mexico we are proud of and have worked throughout europe including eastern europe and southeast asia and in china but the work should go where the work should go and should be natural to be i

i love our davos catch up. this year, chief executives are worried after two and a half years of craziness they have had. >> i think the big news for the trust monitor is along with running a good business, societal issues like diversity and inclusion, sustainability, now they have geopolitics. geopolitics is rated just as highly by the public in terms of corporate responsibilities, and in fact, if you left ukraine, you got a 30-plus point -- excuse me, left russia. if you stayed, you got a 38 point drop in trust. the litmus test for business now includes are you working with repressive regimes? where you stand on human rights? it is a big tent. if you are a juggler, you have three balls in the air. francine: the longer-term, secondary effects of sanctions is food inflation, how difficult will it be for chief executives to bridge those inequalities? richard: again, on the trust barometer, trust went up in democracies but only in the top three quartiles of income. the flatline was the bottom quartiles. we've nev

-- davos achieve? i don't know if there's gonna be some sort of marshall plan to could -- marshall plan for ukraine. there is no snow and it is strange. we arrive and they give you a little packed, and this year they give you an umbrella. manus: prepare for everything. never underestimate your own star power. you don't need david solomon there, you are the beacon at the top of that building. francine: flattery. manus: it will give me everywhere, they told me. [laughter] francine lacqua in davos. maybe not. when we come back, more on the news of the week. including the managing director of the world economic forum, and the chairman of fortescue metals group. this is bloomberg. ♪ manus: it is your monday addition of "daybreak: europe." we are waiting to go to the president of the united states, he is in japan, waiting for him to come through that door with the leader in japan. they talked about a lot of things, haven't they? in terms of working more closely to counter the sort of strength of china, in

andrew has a lineup in davos i see green. i don't see any snow i guess that makes sense not australia. starting with the bank of america ceo brian moynihan straight out of the box. "squawk box" starts right now. >>> good morning welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm rebecca quick with joe kernen andrew ross sorkin is reporting live from davos this morning we will get to him in a minute people have been concerned about the markets. this morning, there are green arrows dow futures indicated up 163 points s&p futures up 23 nasdaq up 55 friday was a reckoning day markets moved back from steep losses during the course of the day. for the week, we are talking about major losses nasdaq down 3.8% dow and s&p down 3%. if you are looking at how far we have come, the year to date numbers at the screen, all-time highs. dow down 15% the nasdaq ended down the week by less than 30% down 29.96%. you are talking off the all-time highs. a lot of pressure. this morning, green arrows yo

joining us here in davos. guy: thank you very much indeed. fascinating conversation in davos. christine lagarde saying in the last couple of seconds at the rate hike plan at the ecb wants a faster option. this is bloomberg. ♪ >> strong economy, big storm clouds. i'm calling them storm clouds because they are storm clouds prayed they may dissipate. it was a hurricane, i would tell you that. they may not dissipate. obviously we want to turn out well. guy: i always love his glasses when he wears a like that. jp morgan ceo speaking yesterday saying the u.s. economy remains strong. the firm also announcing today it's raising its estimates for net interest income. probably why u.s. banks are as they are today. a lot of pushback of the last few days as a result of the plan to spend more money basically. he's keeping that cost estimate stable saying we will make more money over here. hopefully they balance each other out. alix: what's also interesting is when he talked about credit. he said he's never seen credit look this good and they haven't set aside that much for credit and hav

and it's a message we're hearing here in davos as well from renewable energy lead. as i've been speaking to vest as one of the, or the biggest wind energy turbine maker in the world said it had huge investments in russia. it's pulled out, it's still paying its employees there. it has $700.00 of them to big factories. and it's also got big projects in ukraine has had to watch by watch on. as it's wind turbines have been set alive than some destroyed. but it still does have a huge capacity there. and it, we could see ukraine becoming this new green partner and new energy partner for europe as opposed to russia and been just quickly, i want to change. i want to talk about the, the shift of the debate in davos there because we heard the secretary general of nato speaking. the day mister stop back was said, we must not sacrifice security for short term profit. now obviously this is a meeting of business leaders, and that is a, a very different tone. we're hearing their yeah, it was a direct message to invest is here that the protection of the values are more important th

they two in davos. interesting meetings more different than anything i've seen in 18 or 19 years in may. i was speaking to w ef officials today and they don't want to say yes formally we are on for january. lisa: there's a difference between very nice weather that people don't want to miss and the fact that people are enjoying the fact that it's not snowing and icy to the fact that in january people are getting the agenda done. people are coming together amid a sea of uncertainty for off the record conversations about how things really are because they cannot say it in public. tom: markets stable up and down fractionally. can you imagine what these meetings would be like if what we have seen the last few weeks had continued? lisa: a lot of people look at this as a short-term reprieve. that's what we were hearing from tony dwyer we have baked in a lot of fed tightening. suddenly people are reassessing to figure out where we go from here. tom: there is some adjustment here. lisa: christine lagarde has ass

plus, the world economic forum in davos kicks off. stay tuned for an outstanding lineup of interviews, including the ceos of mahindra and mahindra, and standard chartered. it is risk on in these markets. european equities gaining 1%. we had seen a jump coming off of that. the futures stateside point to gains between 1.1% and 1.2%. the s&p 500 just missed out heading into bear market territory. the mliv survey and respondents suggest a further downside of 10% should be factored into the s&p 500. but there is some bargain-hunting on the message to me out from china around covid and the comments from biden, not just around taiwan, . in terms of your sectors, every sector in the green in europe, led by energy, up by almost 2%. further price rises may be factored in. oil resources gaining 1.9%. travel and leisure firmly in the green, up 1.7%. the least positive gains in the banking sector, up 0.2%. the yields up across the u.s. treasury space. you are looking at the u.s. 10 year, 12.81. in his first visit to asia, president biden had a str

that was a been for julian reporting from davos in switzerland. and here now are some of the other stories making use around the world to sell. turkish president, rich of type eta one says he will no longer speak to the greek prime minister. at one accuses kitty accost its attack is of harboring a muslim cleric, hostile to anchor, and pressuring us officials not to so fighter jets to turkey. australia, new prime minister, anthony albanese, is making the leaders of the us, japan and india for regional security talks in tokyo, the so called quad countries are focusing on the potential threat from china. a key issue is the security of taiwan allegations of abuse of minorities are likely to dominate a trip to china by the united nations. human rights chief michaud bachelor will visit the remote. she chang region where it's claimed, wiggle and other muslim minority suffered serious miss treatment. us is labeled it genocide. wiggle leaders and rights activists are concerned that china will stage manage the trip for propaganda purposes. a with me now c,

it's a rare appeal for more social justice here at the world economic forum in davos. and here's a reminder of the top of business story. we're all following for you at the sour social media shares and criptos falling off a cliff and recent days with markets reflecting fear over regulation and rising interest rates and billions lived out in asset value. it's all for me and the business team here in berlin for more checkout website. that's d, w dot com slash business. and of course the w news, youtube channel. we're also on facebook. i'm chris kolber on berlin. thanks for watching. have yourself a successful with ah, with ah, a whole new south asia reservoirs, the himalayan glaciers. their melting at breakneck speed and pakistan in particular is on the brink of drought, agriculture, human lives. here are all under thread mm. pakistan. battle for water. in 30 minutes on d w, a tragedy with a dreamy backdrop, the aborigines since the 1st white settlers arrived 200 years ago and australia's indigenous peoples have been mud oppressed and passive cupid. and like then, full e

what so ever and he knows he can get that from people here in davos . it's a tricky one though because it's an economic balancing game. that was the devil. he's been for julian reporting from davos in switzerland, a guy here, some of the other stories making news around the world. this our turkish prison, wretched type at a one says he will no longer speak to the greek prime minister there to want accuses kennedy acco. smith's attack is of harbouring a muslim cleric, hostile to anchor, and pressuring us officials not so fighter jets to turkey. a severe sandstone has engulfed key white and other parts of the middle east. the winds disrupted air traffic. some people were treated in hospital for breathing problems, side to side as it storms are, becoming more frequent. i blame rising temperatures, water shortages and deforestation. world health organization is warning the monkey pox is spreading rapidly. scores of cases of now been reported in europe and north america. but officials remain confident that the outbreak can. they contained no sign of the vars

we will head back out to davos. francine is out there. right here on bloomberg. ♪ >> the account balances of the consumer pre-pandemic to now are multiple figures. if a person had an average balance -- excuse me, it is now almost $4000. so just up back and think about that. it grew 5% in the month of april to march. consumers have more money in their accounts. the idea that they spent the pandemic money is just not true. the question is they pay down their credit card balances. the third point is are they spending? that is what is interesting. the first two weeks of may they spend more than last may. consumers spending -- people say does inflationary. >> i don't want to interrupt, this is the real moynahan. this is the bank nerd giving us the operational stuff here. >> this goes to the heart of the economic questions. everyone is talking recession and stagflation. what you are saying does not scream of stagflation or recession. >> this makes the fed's job hard and easy. easy in that you have consumers in good shape, not overleveraged, h

it's a rare appeal for more social justice here at the world economic forum in davos. and here's a reminder of the top of business story. we're all following for you at the sour, social media shares and criptos falling off a cliff. and recent days with markets reflecting fear over regulation and rising interest rates and billions lived out in asked with value it's all for me and the business team here in berlin for more check out our website . that's d, w dot com slash business. and of course, the w news, youtube channel. we're also on facebook. i'm chris kolber on berlin. thanks for watching. have yourself a successful in with with it's school and we wonder which industries are profiting from it? are we on the verge of the global upheaval? and what would that mean? let's take a closer look with 30 minutes, d, w, with some hot tips for your bucket list. romantic corner check. hot spot for food, and some great cultural memorials to boot d w, travel off we go. sometimes a seed is all you need to allow big ideas to grow. we're bringing environmental conservation to life w

this is something that a lot of people here in davos are talking about. a lot of people have a different solutions to the problems there because of course, it is an economic balancing act when you're so dependent on russia for your oil and gas. and that is what the situation is for hungry for portugal. ah, both of whom are against an oil embargo at the moment. germany though, has had a massive turnaround. germany economy, minister hall, but ha, beck has signaled that we could see an oil embargo an agreement on that within the e u over the next coming days. that would be a massive breakthrough. whether or not that happens is, is still to be seen. there would be cheers here throughout the mountain, no doubt, because it would starve mister putin, of his funds, which directly fund this war. the only problem is according to will. but how big is that? oil prices continue to surge, and that also continues to help laramie putin and his war. so an oil cap would be needed and that would need agreement from countries around the world. so an even bigger step. but som

i got my chance this week in davos. president duda, pleasure to have you on, sir. >> translator: thank you very much. thank you for inviting me. >> let me ask you right away, there are currently proposals being put in europe to the russian government as far as we understand, an italian proposal, that offers a kind of settlement, which says ukraine will be neutral, crimea and donbas will essentially stay with russia, and that we can have a resumption of normal relations in a sense a kind of negotiated settlement to the end of the war. what is your view about that? >> translator: as i understand it, it is very simple, there can be no such agreement which would lead to a peaceful settlement of the situation that we are faced with in ukraine today. because russia attacked ukraine without any justification because all the information about some kind of alleged nazism in ukraine, this is just russian propaganda, it has nothing to do with reality. it is brutal aggression and war which is being raged against a sovereign and ind

peggy johnson joining us live in davos. quick break and then the 2022 world economic forum wrapping up as the ukraine war and energy have been dominating some of the conversations there. we'll have more from the annual meeting in davos, switzerland when we come back. ♪ this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you star

lisa: halfway through davos. i think there's this feeling that people are willing to say things off the record about the outlook, and there is a great degree of concern about how things are going to proceed going forward. tom: everyone is looking at their cell phones, but they are not looking at the markets. the markets are pretty quiescent. to me what they are looking at is the news flow, including going to chinese-russian exercises somewhere near japan as the president is on his asian trip. lisa:lisa: a lot of people have been talking about the need to speak with policymakers. executives have been talking about how they are so happy to have the chance to get some visibility. our tariffs going to get lifted? are they going to be imposed? one of the potential embargoes? i think the focus is important here. tom: the data checks have really been suspect. go feed the goats and the lambs. so we will go to a data check in new york with kailey leinz. kailey: good morning. i'm other a goat nor a sheep, but i am watching

. >>> and ceos speaking out in davos. i think the temperature must have plunged this hour we hear from the head of nasdaq and accenture. and a conversation with alex karp it is tuesday, may 24th. "squawk box" begins right now. >>> good morning welcome to "squawk box" here on cnbc i'm rebecca quick. andrew ross sorkin is live in davos, switzerswitzerland. yesterday with big gains across the board. we are giving all that back when it comes to the nasdaq dow up over 600 points yesterday. it is down 263 points. s&p was up 72 points nasdaq up 180 and now indicated down more than 211 points. as joe mentioned, it was concerns over snap the big deterioration. results lower than expected. we will talk about that. that is creating problems across the board. if you want to look at what is happening with treasury market yields have come back down now talking about the 10-year yield above 2.8% 2 2.808% is the rate right now andrew, good to see you this morning. >> i hate to say it, the mood here and weather has gotten worse. so has th

. -- davo's. -- davos. thank you for your unprecedented leadership in challenging times. [applause] i think the war in ukraine has put in a nat

. >>> good morning welcome to davos this is the world economic forum. we are live from switzerland i'm geoff cufmorre >> i'm steve sedgwick. >> the world is facing its biggest test since the second world war with a confluence of calamities i'll be getting her view along the top financial players at the forum at 16:30 central european time >>> we are witnessing a market rebound. u.s. futures turning green after the s&p flirts with bear market territory. one of the biggest names in advertising tells cnbc he is pull itcbullish on the tech stos >> i'm bullish on the tech giants the war will have an impact. we talk about that geographic and technical one. google and meta and amazon will benefit as a result of the war >>> u.s. president biden is considering dropping tariffs on china, but admits he is ready to use force to defend taiwan and also launching the inindopacifi. >> we will help all of our countries grow faster and fair we will do that by taking on some of the most acute challenges that drag down growth and by maximizing the potential of our stronges

well, we're not expecting a p still to be made here in davos. it would be something that the organizers would, would love to see, but that's already being ruled down by the ukrainian authorities. ah, what could i proceeded some sort of new deal with ukraine which could help to slow down this warm and possibly even stop at, at some stage i was talking about funding. i funding a war in rational and that's exactly what germany's doing. it's totally dependent on that russian oil. so it's a lot of europe. but what some experts here, a touting is and you energy deal, a new energy partnership with ukraine. ukraine has a rich wind energy which it can produce quite cheaply. it also has a lot of green hydrogen, which it can now also offer europe. there's a lot of electricity, a renewable power that can be offered to europe. if europe is willing to shift a lot quicker than it saying it will and spend a lot more money in financing in, in re educating re schooling, it's work is moving them from things like coal and oil, to wind, solar and all those other gre

brent: our correspondent in davos, switzerland for us. here are some of the other stories that are making headlines. connected to the war in ukraine, former german chancellor gerhard schroder has turned down a seat on the board of the russian energy country gazprom. that's according to a post on his linkedin site. he is a personal friend of vladimir putin and has faced criticism for choosing to cut his business ties to russia. hungary's prime minister has declared a new state of emergency citing the war in neighbor ukraine. the state of emergency imposed during the pandemic was due to expire next tuesday. critics say this allows him to restrict fundamental rights. russian judges have rejected an appeal by the opposition leader alexei navalny against a nine year prison sentence for fraud and other crimes. he will be transferred to a high security prison. he used his appeal to criticize russia's war on ukraine. german chancellor olaf scholz says ending: imports from russia before this winter will be possible with the help of south africa, w

in davos we _ happened there? thank you for having me. in davos we were _ happened there? thank you for having me. in davos we were able _ happened there? thank you for having me. in davos we were able to - happened there? thank you for having me. in davos we were able to have - me. in davos we were able to have this proper estimation on who actually supports ukraine, which countries and leaders and if there were any ones who were not and we were any ones who were not and we were very surprised to see that their collective countries when we are talking about south america, africa, eastern countries, they were rather on russia's side and this is surprising and obviously upsetting. we will continue working on our diplomatic fronts to get their support but it is an illusion saying that the whole world support ukraine. ., ., . ukraine. for that collective south ou have ukraine. for that collective south you have described, _ ukraine. for that collective south you have described, what - ukraine. for that collective south you have described, what key - ukraine. for that collecti

let's cross over to d w's bench rosalyn who is at the world economic forum in davos. ben, tell us how is the issue of food security shaping the discussion at the world economic form by your what's the topic of food security and not the harrowing images of death and destruction in ukraine, which a really convincing a lot more people, investors, and heads of state here that something has to be done to stop brushes, aggression in ukraine because it's causing a looming food crisis. was so many parts of the world, especially africa, and asia, with food prices increasing with the energy prices increasing as well. it's a regular people back home in the where stand elsewhere in the world that are also going to be feeling the pinch and also worried about what's going on. so there are consequences and ripple effects all round the world right now, christoph, throughout all economies. it's very interesting to see how quickly things can change, how quickly germany can change its opinion as far as what it stands for when it comes to ukraine. i mean, we saw that at the beginning of

let's go back to been in davos. then was there been much reaction from inside the forum this, what analysts, i was speaking to about this point on china, which was very interesting. the german chancellor is very subtle in some of his messages and he only touched on this quite briefly. the repression that china exert inch and jang and forced labor camps. there. it's been a huge political issue for some years now and a corporate issue as well, with pressure on companies to stop using and sourcing these factories in that part of china. and the message from can roth from human rights watch was that russia is overshadowing the real enemy here being china. i've heard this from other analysts as well that china is the next to enemy. and the china is looking on a serving this war quite closely to see how far russia gets with its war. that it's, that it's a campaigned on ukraine that's raging in ukraine and to see how far it could get in perhaps it's moves on taiwan. we've heard a very strong warnings from the u. s. presiden

and in davos emily? sure. 12, who's going to be covering the rest of the doubles for moving forward. thank you very much to you both. if you're just turning in to dw news, you've been watching special coverage of our presence. lensky is speech to the world economic forum in davos, switzerland, the are the ukranian president. they're appealing for further sanctions, and for investment in this country when the post war period comes. well, russia has been accused of committing war crimes during its invasion of ukraine since the war began. its forces have targeted home schools and hospitals. the scale of the atrocities only becomes clear in areas liberated by ukrainian forces. he w, mateus burling, a went to one village in the east where russian soldiers have recently been forced out a life in runes. suit law marks your number has just 3 turn to what was her home. i can't say anything. a shell hit her house 2 days ago. it doesn't, this is what is left to them. no, we have nowhere to come back to people livin