as the worlds of business finance and politics elites meets in davos it's time to find answers at the top of the agenda how to distribute the benefits of growth more fairly around the globe. and oxfam claims the gap between the super wealthy and the rest of the world has widened again the report was released just in time for the davos meeting. it's time for business on the w m how you got to get us welcome to the program and i'll start with some name dropping british prime minister of the reason may french president in one remark call and brazilian president michel those are just some of the world leaders that we are expecting to attend the world economic forum in davos but the meeting is known for a very broad array of participants and topics here's a first look at what. these are the stars of opening night in davos

elton john actress cate blanchett and bollywood star shahrukh khan are the recipients of the crystal and they've been recognized for their charity work but for many here the highlight is said to be u.s. president trump for the first time in nearly two decades a sitting u.s. president will be taking part of the world economic forum some think he needs to have discussions with other foreign leaders more than anyone. because secret support and is. whoever was the leader of a country does not have just a national perspective but an international perspective a global perspective and so presence of the president of. will hopefully provide him even better research global perspective but locals have a different view of the u.s. president's attendance means even tighter security in davos and many here are not

excited about trump. decision i don't care whether his coming or not. iran doesn't even see him and i don't want to see him either resign or say and i'm not really interested. and i don't think he'll come until friday some seventy heads of state and government will be holding discussions about the global economy with representatives from the business world and n.g.o.s so we have three thousand participants coming together at a time where we see a lot of political talent shows at the same time we see that growth is back in the global economy but for us is a very important that there is growth it is more inclusive and creates more jobs but it's not just about the global economy other topics on the agenda include technology and its challenges the gender pay gap and wealth inequality. and

earlier i talked to de w's helen humphrey who is covering the meeting for us and asked how the mood is compared to last year when the world was wondering what donald trump's presidency would look like. let's put it this way have yes certainly no the theme of this year's annual meeting of the world economic forum is creating a shared future in a fractured wild over the past year since the us president has been in the white house donald trump has pulled the united states out of the paris climate agreement he's ripped up the t p p trade deal announced a looks like it's on the rocks basically he's done everything runs contrary to what the davos elite would like to see happen and he will give the closing remarks here at the world economic forum on friday first though we have to hear from indian prime minister in there andrew modi tomorrow i will really start to get an understanding into what the global elite think about a series of risks ranging from growing inequality all to official intelligence the

labor market growth education and the gender gap over a series of many many panel discussions over the next four days all of those panel discussions will be presided over by this year's seven co-chairs all female including the i.m.f. sixteen that out and speaking of which we know that she is also launching the world economic outlook there in davos how are things looking things are looking rosy according to the i.m.f. at least it's raised its growth forecast for the global economy by zero point two of a percent for this year and next to stand at three point nine percent that said it did warn of the risks of a growth cycle coming to an end it said that most of the growth has been driven by asia and europe and it said that the us could see some growth propelled by the tax reform however that could tail off towards twenty twenty two due to an increase in the u.s. budget deficit now let's talk about

a some of the participants there because we know it's not only world leaders you can talk about the meeting without mentioning the glitz what has this year scarred in store. we have just had the crystal awards recognizing a celebrities artists who make an impact in the humanitarian wild cate blanchett the australian actor and producer received an award of crystal award for her role raising awareness in the refugee crisis as well as share a common the body would stall for his advocacy on women's and children's rights and british singer songwriter elton john for his role in the hiv aids epidemic for raising awareness that just would be davos without a little bit of glitz and glamor. humphrey covering the annual meeting of the world economic forum in davos switzerland thank you very much and just in time for the meeting of the world's leaders in davos the international n.g.o.s fam is updating its annual inequality report oxfam says the number of billionaires worldwide has

gone up to two thousand and forty three this past year their combined wealth increased by thirteen percent now eighty two percent of the global wealth created last year went to the top one percent of the world's population the super rich but inequality is also rising fast here's an example in just four days the c.e.o. of one of the world's top fashion brands earns as much as a seamstress in bangladesh makes throughout her entire life the amount the rich avoid in taxation was more than the amount industrial nations paid in development aid let's take a look at that figure and compare its two hundred billion dollars in tax avoidance versus one hundred forty five billion in development data and while the world is looking at the millen airs on stars in davos here's a look at those who struggle. the ox fam inequality report doesn't just say that the rich are getting richer it also says the fortunes of the world's poorest are not improving at all. fifty percent the bottom fifty percent of humanity three

point seven billion people go with nothing zero percent of the new wealth created it's getting was baby idea wealth is increasing six times faster than the wages of ordinary people this disparity is felt deeply in vietnam's dong knight province where many work in the textile and garment sector often far from home and away from their families land is thirty two and work six days a week for about one u.s. dollar an hour she can't afford to keep her children with her they live with their grandparents more than a thousand kilometers away. i don't have enough money to raise my two children and i have to save money for them to feed them that so they will be well fed like their friends i want to be that way that way the only way. oxfam says it's badly paid work like lands that ensure goods are kept cheap and

sold in massive volumes mine in the pockets of corporate shareholders and executives to combat widening inequality the charity has called for ensuring a living wage for workers and imposing higher taxes on the wealthy. we stay on the subject of davus and we're going to discuss it with our financial correspondent on wall street gets caught or yes we know that there was a big expectation and a lot of question marks regarding whether donald trump would attend the meeting or not now it seems like he will what's the word on wall street. well first of all talking about millionaires and billionaires jamie diamond the head of j.p. morgan's once said about davos it's about billionaires explaining to millionaires how the middle class feels but well let's come to the u.s. president to twenty seventeen has been mostly about domestic politics especially the tax reform and twenty eight could be about trade issues and therefore it will be very interesting also here from

a wall street perspective how the president will appear in davos really he strengthened his case was america first or will he sound a bit more open when it comes to trade relations now and the government shutdown made many nervous during the weekend now and even stretch into the week day as we know it but did it have a big impact on the markets and we now say something about it now that it's done. i heard it so often that it does not have a big impact on the market but then again when we did see on monday that there was a partial agreement and the shutdown can be avoided for an hour and rather quickly we did see the u.s. markets gaining quite some strength we said new records here in the monday's session so it did have a certain impact and there was some relief here on wall street at the beginning of

the week it's called on wall street thank you very much. and online retail giant amazon has opened a convenience store in seattle that might just be the future of shopping it's called amazon go and customers won't have to wait in line or use a checkout they only need the amazon go app on their smartphone sentence simply pick up items and put them directly in their backs the goods are automatically added to a customer's virtual shopping cart when they're removed from the shelves or deleted if the item is put back the system relies on a mix of cameras sensors and artificial intelligence. and that was your business update thank you very much for joining us remember you can always check us out on the web at the dot com or follow us on social media and how you got to go on behalf of the whole team thank you very much for watching securing the i.

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