CNBC is set to provide its most extensive coverage yet of the World Economic Forum Annual Meeting 2010 (27-31 January). CNBC EMEA will be providing live news, interviews and analysis on the ground from Davos with the attending CEO’s, economists, policy makers and heads of state across its on-air and online platforms.
7:00-8:00 Nouriel Roubini, Chairman, RGEMonitor (Possible dotcom op-ed) CNBC First
The bear who last year told Geoff at Davos that equities would fall another 20% and that China would see flat growth will be closely watched. He did of course predict Gold would do very well and foresaw big problems for emerging markets. Roubini is calling for tighter monetary policy in China "It will be nice to see an increase in the interest rate ... in China because credit growth in China has been excessive” and believes the
Roubini is also fretting over a massive correction in gold and was warning CNBC towards the end of last year about the mother of all carry trades that would end in tears. Expect dotcom copy before market open.
7:05 – Lord Levene, Chairman of Lloyd’s (Op-ed for dotcom and on CNBC debate) CNBC First
Levene is angry at some of the excess seen in the financial system and government’s regulatory and fiscal response. “Any one of these tax measures in isolation one could almost shrug off. But when you put the whole lot together, it's bad news. People say 'Why should I work here?'" His key point for some time now has been the banking industry needs to learn a few things from the insurance industry on taking risk and bonus culture – See link below for latest earnings – Oct 27th 2009 – He will argue in the CNBC debate that we need to enforce existing regulation more effectively and tell us why he believes over regulation will cause the next global crisis.
7:30 – Dr Jacob Frenkel – Chairman of JP Morgan Chase International (On CNBC debate) CNBC First
A low profile figure in recent years; has the past run the Israeli central bank and been vice chairman at Merrill Lynch International and AIG!!
Our key focus with Frenkel will be Obama’s decision to force a number of US and International banks to spin-off prop trading, private equity and hedge fund activities and discuss how such regulation could impact both JP Morgan and its peers – We will push him on whether regulation will force JP Morgan International to relocate staff or HQ out of London and discuss bonuses in light of the political backlash they have created.
In the CNBC debate he will argue that: There is a danger that governments will retreat to protectionism and be tempted to politicise monetary policy
7:40 - Suresh Vaswani, CEO, Wipro Technologies
The Indian outsourcing giant is in bullish mood after a return to global growth boosted its Q3 profits – Net rose by 19% and Suresh is now predicting top line growth of up to 5.4% until the end of March – Shares are close to 10 year highs and the group hired nearly 5,000 staff over the last 3 months – Talk of an ADR listing in the press – Wipro is chasing growth from China, the middle-east and Europe
7:50 Dennis Nally, Global Chairman of PwC
Expect PwC survey to be released on Tuesday the 27th – More to follow
8:00-9:00 Nariman Behravesh, Chief Economist, IHS Global Insight
The closely watched economist is predicting a two speed economy in 2010 with highly indebted developed countries lagging BRIC and developing economies. Thinks we might see some more good news on jobs due to firms cutting too many on the way down but is unconvinced that recent earnings growth in US and EU is anything other than inventory building. Says risks are evenly balanced and believes asset bubbles, sovereign default and monetary tightening are the biggest risks we face. Nariman does though see a chance of a positive surprise on productivity growth.
8:15 - Ivan Pictet, Senior Managing Director, Pictet & Cie Private Bankers (CNBC First)
Will join the debate on the key issues and discuss how the private banking industry in Switzerland is coping with opening its books to authorities across the world. More notes to follow from Carolin Schober.
8:30 - Ben Verwaayen, CEO, Alcatel Lucent (CNBC First)
Alcatel-Lucent has had a very difficult few years with 10,000+ jobs cut in a bid to get margins back to mid-single digits and stop runaway losses. Faces stiff competition from China’s Huawei and has been one of the big losers as telecom firms cut back on investment in new networks. Earlier this month Verwaayen unveiled new initiative called ‘Green Touch’ which brings together R&D teams from across the telecoms and IT industries to find new ways of improving energy efficiency of global communications networks.
8:35 - Kenneth Roth, Exec Director, Human Rights Watch
Focus on Haiti, who is giving and is the aid getting to those who need it quickly enough?
8:40 - Ruben Vardanian, CEO and Chairman, Troika Dialog Group
The second of our CEO’s from the BRIC region will join us to focus on whether 2010 will be the year that Russia attempts to regain trust in its financial and political system with outside investors. With 250 major companies nationalised by Moscow during the crisis the Kremlin is keen to raise money via listings for the majority of these firms over the next 24 months. In order to achieve this it is expected that the authorities in Russia will attempt a 2010 charm offensive with foreign investors still wary given the rough deals handed out to oil majors like BP and Shell. We will also focus on Russian corporate governance in light of the politically motivated attack on William Browder’s Hermitage Capital.
8:45 – Peter Sands, CEO of Standard Chartered
The Asian focused UK banking giant is aiming to make $5.1 billion for the full year and remains one of the big winners in the industry. Focused mainly on high growth Asia the bank is still going to have to answer, like the rest of the industry, to UK authorities who have aggressively raised taxes on high earners and bonuses. Standard Chartered has a policy of not revealing bonus levels and with 90% of its profits made in Asia could relatively easily relocate to Hong Kong if it felt the regulatory environment was stifling its ability to compete for staff. Big focus on winning rich and middle-class customers across Asia and the middle-east will be interesting to see how Dubai problems are impacting business in the region.
9:05 - Bruce Aust, Exec VP & Head of Global Listings, NASDAQ OMX
Joins us after the NASDAQ OMX European market open at 9:00 to discuss the battle for trades in Europe and will be quizzed on consolidation in the European sector – Could be joined by Mike Splinter, the CEO of Applied Materials or high level delegate who opens the European market – More to follow
9:15-10:00 - John Studzinski, Senior Managing Director at Blackstone Group
Blackstone’s restructuring and M&A expert has been a very busy man over the last two years helping audit and re-organise firms like AIG and Northern Rock for governments on both sides of the Atlantic. As well as quizzing him on private equity activity and recent upswing in M&A we will focus on regulation and ask the man who gives huge amounts of his £billion + fortune to charity and is a big supporter of the arts if remuneration policy needs to change. Will Blackstone snap up Northern Rock given its widely reported ambitions to get into UK banking market – Don’t expect John to tell us but we can ask.
9:20 Richard Edelman, CEO, Edelman
With the business community and financial services industry in particular hugely unpopular outside of the World Economic Forum meeting in Davos we ask one of the world’s leading PR men how to regain the trust of the people and governments. He will also outline why he believes PR is now one of the key focuses of boards across the business world and recession proof.
9:30 - Zhu Min, Deputy Governor, People’s Bank of China (CNBC first and on the CNBC Debate)
Amid fears that China’s economy is overheating Zhu Min’s interview will be closely watched by global markets eager to gain insight into how aggressive monetary tightening in China will be. The outspoken central banker who was formerly at commercial lender Bank of China has recently said “the world does not have so much money to buy more US Treasuries.” He went on to say, “the United States cannot force foreign governments to increase their holdings of Treasuries… Double the holdings? It is definitely impossible". Zhu Min is one of the leading voices calling for action within the Chinese administration to cut back on investment for fear it will all end in tears but has become a lot more guarded in what he says since joining the People’s Bank of China. Says the recovery for the global economy remains weak and believes investor confidence remains fragile.
9:40 – Mick Mack, CEO of Syngenta (CNBC First and joins CNBC debate) Member of the CNBC Carbon Council
His big thing is how do you feed a world population heading for 9 billion by 2050 – “In order for our world to be truly sustainable and meet global needs, the agriculture sector must meet three goals: provide food security for all, increase agriculture production in an environmentally sustainable manner and generate economic growth and opportunity” Told investors in Q4 2009 that 2010 will see the agrochemical giant return to revenue growth as emerging markets recover. The big question for stock holders is whether Mack will return cash via share buy backs or snap a rival. We will also focus on commodity prices and the failure of the Cop15 meeting.
9:45 - Rich Gelfond, CEO of the IMAX
In the wake of Avatar smashing box office records we talk to the CEO behind the 3D focused cinema group if his time has finally come as the technology catches up with the hype surrounding 3D cinema and TV.
10:00 - Roberto Quarta, Chairman, Clayton, Dubilier & Rice International
The US private equity giant this month raised $5 billion from investors but had wanted to raise $7.5 billion. Claiming to focus on good businesses with good operational history that are easy to understand it currently owns the likes Hertz, Rexel and US Foodservice. Focus will be on market sentiment and M&A in light of a pick up in deal flow from trade buyers.
1030 - Timothy P. Flynn, Chairman, KPMG
Report expected on first day of World Economic Forum
11:00-12:00 – Stephen King, Chief Economist at HSBC
Worried about the threat of deflation in the developed world which he believes will lag behind emerging markets where there is very real risk of inflation in Asia. Has recently upgraded view on UK but is worried if demand picks up in UK and other developed countries without rates moving higher we could see deflationary pressures, which is an interesting position.
12:10 – Deven Sharma, President of Standard & Poor’s (CNBC First and on CNBC Debate)
The boss of one of the big 3 credit ratings agencies has had a tough few years. Amid fears over sovereign default in Greece, Dubai and many others CNBC will be grilling the man whose agency was very late in flagging up the scale of problems facing many highly indebted nation states.
12:15 - Stuart Popham, Senior Partner at Law firm Clifford Chance & Chairman of TheCityUK
Focus of this interview will be on the regulatory impact of new rules and tax rates on the City of London. How many firms will leave and will a new government really follow through with the 50% rate of tax?
12:30 - Christopher Rodrigues, Chairman of VisitBritain & Chairman of International Personal Finance
International Personal Finance (IPF), the door to door lender which offers loans in central Europe and Mexico, has seen demand pick up in recent months following a tough start to the year. The firm tends to offer loans in the region of £200-£400 to families on low incomes. Agents, who are often middle-aged women, visit customers' homes to provide the loans and then collect small repayments - of typically about £5 to £14 - each week for a year. These guys are really getting back to basics and we will push them on interest charges.
1530: Sadeq, Sayeed, Chief Executive, Europe, Middle East and Africa, Nomura International
Just over a year since snapping up Lehman’s European operations Japanese banking giant Nomura is about to move into a state of the art new offices in London and aims to be one of the biggest players in EMEA! We will focus on key themes such as regulation, banking reforms and the debt threat!!
16:00 - HE Amr Al Dabbagh, Governor & Chairman, Board of Directors of the Saudi Arabian General Investment Authority
16:45 – Bob Diamond, President of Barclays
Subject to news flow this will focus on Obama’s plans to force banks to get out of risking areas, global regulation, the debt threat, the global economy and in light of this weekend’s announcement, BONUS CULTURE.
17:00 - Daniel Yergin, the Chairman of CERA
Focus on energy markets and failure of the Cop15 process. Believes oil prices are going higher.
17:10 - Sir Howard Davies, Director at the London School of Economics and former head of the FSA
Focus will be on regulatory environment, bonus culture and the debt crisis
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