christine lagarde: i hope people will listen now. only did it not get much traction and at the time we were producing research focusing particularly on the inequality and the relationship to sustainable growth. our point was if there is inequality, it is counterproductive for the sustainable growth that the g-20 members and many people aspire to. if we want larger share of the pie for all, we need a larger pie altogether. for that pie to be sustainable, we are demonstrating that excessive inequality is putting a break on that. why did people not listen? i don't know. i got strong backlash from economists in particular saying it was not their business to worry about these things. my institution is very much converted to the importance of any quality and study it and dividing policies in response. i would say we now probably and i hope we have an opportune time to put in place the policy we know will help. i would agree with larry. there is no silver bullet. there is clearly a sense in my view and you just indicated that, when you have

newsnight, the head of the imf, christine lagarde, looks at the

christine lagarde: i don't want to talk about the outcome of the policy.e have very little by way of detailed information as to what the plan will be. if there is such a thing as a plan. i want to respond to ray. you said that maybe this is the end of globalization. if policymakers are concerned about migrants and the flow of refugees, if they are concerned about massive inequality between the 3.6 billion people relative to the eight. that might be a very bad way to compare. there are 3.6 billion people around the world who are aspiring to better income, food on the table twice a day and sometimes once a day. to turn our back to globalization, to turn our back to helping development is the wrong approach. that globalization should take a new turn. to actually say that globalization is bad because it destroys jobs, i think that's a very short cut to something that needs far more work in understanding of how much is attributable to technology breakthrough and we will see more of it. i conclude with a point about policy which concerned me a lot. he said that

francine: christine lagarde? stine: i don't want to comment on the possible outcome of the policies by president-elect, because we do not know what the policies are going to be, and we have very little by way of detailed information as to what the plan will be, if there is such a thing as a plan, that -- [laughter] christine: but i want to respond to ray. he said maybe this is the end of globalization? you know, i think if policy makers are concerned about the flow of refugees and massive inequalities between the 3.6 billion people relative to the eight, and everybody knows about talking about here, 50% of humanity relative to the eight wealthiest people in the world, which might be a very bad way to compare, but still, there are 3.6 billion people around the world who are aspiring to better income, food on the table, twice andy, and sometimes more, to turn our back to globalization and to turn our back to helping development is exactly the wrong approach. that globalization should take a new turn, the asymmetry i

earlier today i interviewed the head of the international monetary fund, christine lagarde, who has been negative about brexit in the past, and i started by asking her if the uk leaving the single market would be bad for britain. you have to look at all the parameters. you have to look at the monetary policy, the exchange rate, the interest that would be charged. you have to look at the engines for growth, whether that very solid uk consumption which has held the economy together, and better than we had thought, will last. whether investment, both domestic and from the rest of the world, will persist, or whether there will be a significant reduction, and under what terms the exports will eventually take place between the uk and the rest of the world. what i know for sure is that there's a lot of work to be done in the coming weeks, months and possibly years. risks to economic growth, then, for britain and for the european union through this process? uncertainty is always a risk, and we know where we are at the moment. as you pointed out, the uk is still in the european union, and trade a

sheryl sandberg, ali ba bar's jack shakira, facebook‘s sheryl sandberg, ali babar‘s jack ma and christine lagardangela merkel are staying away —— alibaba. but for those who feel they can alibaba. but for those who feel they ca n afford alibaba. but for those who feel they can afford to tear themselves away from domestic troubles, the world economic forum will be awash with ideas and debate as to whether ever freer trade is now a certainty. tanya beckett, bbc news, davos. well, it is a big day for speeches because later today the uk prime minister theresa may is expected to speu minister theresa may is expected to spell out what kind of brexit deal she once and says the uk will not retain partial membership of the eu when it leaves. us president—elect donald trump says his promise to negotiate an early trade deal between america and the uk could strengthen mrs may's can. our political editor reports on what we can expect based on the evidence so far. brexit means brexit. what is that? brexit means brexit. what is that? brexit means brexit. and in case you hadn't heard. brexit means brexit. i'd ig

ali barack 0bama's jack, and the imf‘s christine lagarde.european leaders francois hollande and angela merkel are staying away. for those who feel they can tear themselves away from domestic troubles, the world economic forum will be awash with ideas and debate as to whether ever freer trade is now with ideas and debate as to whether everfreer trade is now a certainty. tonia beckett, bbc news, davos. well, let's go live to davos and talk to one of the delegates attending, inga beale, chief executive of the insurance market lloyds of london. nice to see you again. we spoke this time last year when you were at davos. there's a very different mood this year given brexit and the outcome of the us election. yes indeed. brexit is going to be one of the topics i'm interested to learn more about today. 0bviously we're going to hear theresa may talking later. but interestingly we're still going ahead with our contingency plans, we're not going to put those on hold because i don't think we'll get any real secrets about what will be in store for certai

newsnight, the head of the imf, christine lagarde, looks at the brexit strategy.nd military support to the gambia. will be defeated but defiant president stand down? good evening, and welcome to bbc news. the foreign secretary, borisjohnson, has been criticised for his choice of language after appearing to compare the french government to the nazis. he said britain should not be threatened with "punishment beatings" "in the manner of a world war two movie" for wanting to leave the eu. during the day, european leaders have been giving their reactions to theresa may's speech yesterday, outlining her brexit ambitions. the european commission president, jean—claude juncker, promised to work for ‘good results' in the forthcoming talks, as our political editor, laura kuennsberg, reports. watch out, chaps, i'm worried about you falling over. "watch out, foreign secretary," more like. it's his job to win friends and influence around the world. on tour in india today. but as the delicate process of leaving the eu begins, rather indelicate words about our old friends and fo

christine lagarde is speaking with john micklethwait.lier in december, maybe late november, there was this very, very wonderful moment, christine lagarde with herew tenure at the international monetary fund, really addresses women within finance, within stmentand frankly, within our world economy. that's a good topic to speak to abby joseph cohen about, goldman sachs senior investment strategist. i go back, i think about your tenure at the fed years ago. what was your first day like with drexel? do they go, what is she doing here? abby: it was actually wonderful. i was hired by the director of research, who, during the recruitment process, specifically said to me, i have three daughters. tom: that's a start. abby: and i want to make sure women at drexel have every opportunity to succeed. tom: we see it on wall street whether it is madame lagarde or frankly madame joseph cohen. i think sallie krawcheck, how she did it with the serious jobs of security analysis. my perception of it is women not so much work harder, but work smarter towards

is hosting imf director christine lagarde. and larry summers. that is all coming up.t will be a cold beer in davos. we have brought all of the various winter clothing. -- it will be a cold year in davos. we have brought all of the various winter clothing. morning, at our world headquarters in london. right now, to bring you up-to-date on separate news, our business flash with sebastian salek. sebastian: facebook is taking steps to do with fake news in germany. the social network will ordinate with a nonprofit organization to check facts and post fake news warnings. forecasting an increase in -- the japanese automaker, honda, sold a record number in these countries last year. and the largest shareholder in disney has cut its stake in half. she reduced or stake to about $7 billion in order to diversify. she has a 4% stake in disney. -- e founder steve jobs the shanghai compensators -- the stock indexes heading to its longest losing streak since august of 2015. bounce and off the 50-day moving average, and a touchdown toward 200 today. that makes traders very nervous and

christine lagarde: yes and no, the economist would say.to try to identify the middle class. i would say the middle class is both growing and shrinking. the middle class is growing on a local basis. if you look at numbers, the middle class to over the last 40 years, it has gone up. 7% to gone up by about 13% today on a world basis. the middle class is generally defined as someone with an income between $10 and $20 a day. it is also shrinking if you look at the u.s. numbers. the middle class in the united states has shrunk from the 60th to the 50th. that is a result of more wealth accumulating at the top and people moving down below as well as a result. if you combine that, i think we are focusing more on the advanced economies where the middle class has shrunk and where there have been signs of a lack of trust and hope and disenchantment with many of the principles and visions that people had for the future. with lower growth more , inequality, and much more transparency, i think you have good ingredients for what is identified now as a cri

imf chief christine lagarde says that further monetary policy was needed. that will be a bitter pill to swallow for ecb head mario draghi, who has used everything in his arsenal to boost weak inflation. she also said it was time for corporations to face up to their physical responsibilities. these are traditional ideas. then came the more utopian idea of the basic income for all that that idea failed in a referendum in switzerland, but interestingly, now that the world economic forum has pointed out that automation and the industrial revolution could have raised half of all current jobs, a lot of people seemed enthusiastic about the proposal here. >> speaking of economic growth, the united states is supposed to be one of the drivers, at least this year. today we heard some criticism from the nobel prize-winning economist joseph stiglitz on the possible economic policies of the donald trump. helena: he was rather frank. he said that trumps economic policies were bound to fail. he says that trump clearly doesn't understand macroeconomics, if you think that ha

while there, he spoke to christine lagarde, the head of the international monetary fund, and asked aboutall the parameters. you have to look at the monetary policy, the exchange rate, the interest rates being charged. you have to look at the engines for growth. whether that solid uk consumption which has held the economy together better than thought will last. whether investment, both domestic and from the rest of the world, will persist, or whether there will be a significant reduction, and under what terms the exports will take place between the uk and the rest of the world eventually. what i know for sure is a lot of work to be done in the coming weeks, months, and possibly yea rs. coming weeks, months, and possibly years. a risk to economic growth to britain and possibly the eu? uncertainty is always a risk. we know where we are at the moment. as you pointed out, the eu still has written in the market. —— britain. what it is two years after the trigger is pulled, that is yet to be defined. before the referendum, the imf was clear that it would go very bad. the uk economy has defied e

stay with us — we will be finding out what imf head christine lagarde's predictions are for economicma has erupted. lava and ash was thrown more than 2,000 metres into the air. the volcano is one of the most active in the pacific ring of fire. that's all for now. stay with bbc world news. there is definitely a pattern emerging with the weather. i will say that for the weather over the last few days. here is monday's satellite picture. a lot of cloud across the uk under building high pressure. spot the difference on tuesday. a bit of sunshine coming in the south—east of england. and yesterday's satellite picture also shows a lot of cloud. again, the south—east poking out in the sunshine. you can guess what the forecast will be for thursday. another cloudy day for much of the country. the cloud will be thick enough as we go through the first part of the morning to give a few spots of rain in the midlands, maybe west england and wales. under this cloud it's a mild start for most. a touch of frost in aberdeenshire and certainly for southern wales and southern counties of east anglia it w

francine: it was very enjoyable, a spirited conversation, a session with christine lagarde. , andso had finance minister. we talk in theory about populism and what it could mean, but we have three crucial elections coming in europe. tom: one of the themes here is that populism continues and will not go away at any time right now. it is always a good moment at ofos with robert shiller yale university. in well over 10 years that we have worked with robert shiller, it cannot be a better time than now. trump talk about exuberance or rational or irrational exuberance. we have a new president. robert shiller of course is the author of "finance and the good society." what would be the opening thought for trump and the good society right now? robert: i do not have his ear yet. here is the good thing about trump -- his business orientation and getting things done. management,r risk better private risk management, which is a tool against hedgingty. insurance prevents inequality. they do not disrupt incentives. tom: it is a good way to start. our single best chart, the second day of the doubles me

francine lacqua hosts christine lagarde and others.ring you those live and in full on bloomberg television on radio. donald has met martin luther king the third to discuss what he describes as america's broken voting system. he says the talks on holiday honoring his father focused on voting rights. of democratsber will boycott the trump inauguration after the president-elect criticized john lewis. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. shery: thank you. asia's regional benchmark is continuing to fall for a third session, but individual markets trading all over the place. korea, let's get david ingles to break this down for us. david, what is going on? david: right. to your point, it is not consistent. it is one of those days where you take the eco-data and throw it out the window. there is a risk to smaller markets, southeast asia index there, .1%. south korea lifted by samsung. australia,ets like the biggest the klein in about five weeks, basically e

imf managing director christine lagarde said president trump's plan to overhaul the tax system and increase infrastructure spending to excellent growth in the u.s. economy over the next two years. she says it is too early to predict how his other policies may impact the economy. could berorists planning to undermine elections in france and germany. the warning came from the european union. pen inlist marine le the running and angela merkel flooding anti-establishment forces as she faces reelection in germany. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. i'm taylor riggs. this is bloomberg. vonnie: president trump bloats the idea of a 20% tax on imports from mexico, but who will end up paying? we are live in mexico city. this is bloomberg. ♪ david: this is "bloomberg markets." i'm david gura. vonnie: i'm vonnie quinn. relations between the u.s. and mexico are continuing to break down and the countries are getting closer to a trade war. president trump tweeted today that mexico has taken advantage of the u.s. for long enough. necent

on wednesday, a discussion of the crisis of the middle class, francine lacqua hosts christine lagarde live andring you those in full on television and radio. of course we are counting down to the market open in the emirates and just over an hour. what should investors watch out for? yousef: we are not just looking at the emirates. saudi basic industries, the petrochemical behemoth currently with four buys, 12 holds, and one sell. watch out what is happening with cement, earnings overnight, q4 missed, a drop in sales and prices as well. bank as a financial you should watch as well. that is it for this edition of "bloomberg markets: middle east" . shery: this is bloomberg. ♪ shery:. update of the top stories. chinese stocks have fallen for six days with the shanghai composite with its longest losing streak since december 2013. tremors in the nation's financial markets, spurring selling. brokerage and real estate firms have led decline. theresa may says they will step out of the eu market. the british prime minister will say she has no interest in the approach.alf-out sources

christine lagarde says the solution is greater wealth distribution.ver davos.dow themarket has discounted positives and of the negatives of trump toss collection. -- trump's election. vonnie: looking forward to a lot of that coverage all day. in the u.s. we are about 30 minutes into the trading session. --sa: next trading action abigail: mixed trading action. the dow opened lower. the week is relatively young but the dow was on pace for its second weekly decline. a little bit of a bearish trend that as you can see both the s&p 500 and the nasdaq are trading slightly higher fluctuating between small gains and losses. we are seeing a continuation of the lack of conviction that is marked trading action for u.s. equities in recent days. when you take a look at some of the havens we have seen a haven been more recently. we have the 10 year yield trading higher marked in red telling us the safe haven bonds are selling off a bit. yields rising helping the dollar index up. we do have the dollar against the yen rally. we have gold trading slightly lower if tha

christine lagarde says president trump's plans to overhaul the texas demand increase infrastructure spending accelerate growth in the u.s. economy over the last two years. she says it is too early to predict how trump's other policies might impact the economy. white house press secretary sean spicer says an investigation into what president trump says was widespread voter fraud will be focused on understanding "where the problem exists, and how deep it goes." he singled out california and new york, two democratic strongholds. there is going to be tighter security on some european trains. belgium has sealed an agreement with france and the netherlands to draw passenger lists and introduce passport checks on the euro star rail services. it will tighten security on high-speed trains and help ack termins who might be using them. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am courtney donohoe. this is bloomberg. theresa mayminister due to meet with president trump at the white house. a news conference coming in about 19 minutes time

christine lagarde is speaking with john micklethwait. mber, maybe late november, it's a wonderful moment, christi lagarde with her new tenure at the international monetary fund, really addresses women within finance, within investment, and frankly, within our world economy. that's a good topic to speak to abby joseph cohen. goldman sachs, senior investment strategist. i go back, i think about your tenure at the fed years ago. what was your first day like? do they go, what is she doing here? abby: it was actually wonderful. , tom. i was hired by the director of research, who, during the recruitment process, specifically said to me, i have three daughters. tom: oh, that's a start. abby: i want to make sure women at drexel have every opportunity to succeed. tom: we see it with madame lagarde or frankly madame joseph cohen. my perception of it is not so much that women work harder, but work smarter towards that marginal effort to gain on wall street. where are we within the investment firms right now? are the women outdoing the men? abby: wel

back some of the year's most interesting interviews on the topic of china with insight from christine lagardeobius, larry fink, and others. plus, disney's biggest foreign investment ever, a huge bet on the chinese consumer made headlines in 2016. coming up next, we turn to japan. abe and kuroda trying all sorts of stimulus to make a positive impact, including negative interest rates. >> in theory, negative interest rates should spurn some sort of action, but people put their money in the mattress. >> this is bloomberg. ♪ ♪ >> the aussie dollar taking a tumble after central banks cut interest rates with a fresh record low, an unexpected move aimed to counter disinflation sweeping economies. is there more to come? >> i think there is more to come, jonathan. if you look at the rba statement, inflation will remain too low going forward. >> treasurer scott morrison delivered a budget he says is focused on jobs and growth after the rba cut rates for the first time in eight years. >> the government has come up with a plan to reduce the deficit from 37 billion in the current year to 6 billion by 2019

we will be joined by christine lagarde and larry summers. wednesday, 8:00 a.m. in london.♪ . jonathan: from new york city worldwide, good morning. on friday, january 14, i'm jonathan ferro alongside alix steel. futures moderate, the do you up. 14-day record streak. the dollar poised for the biggest weekly drop since the election, the cable rate 121.85, alyx. alix: banking on trump, earnings on the first election are underway with jp morgan, wells fargo all reporting this morning. bank of america's profit up 43% and goes nowhere in the free market. tepid trade. the trump battle looms and the trade surplus decreases for the first time since 2011 and china is said to put more restrictions on banks to help stop yuan outflows. all clear. janet yellen saying the economy faces no short-term obstacles in a speech thursday. and a slew of officials talking about how to had

christine lagarde, finance minister and others. we are live throughout the week on tv and radio.a: up next on "bloomberg daybreak" the break -- big bank earnings. a preview when we come back. this is bloombeg. anna: welcome back. it is berlin waking up at 8:17. suggesting we will be a little bit stronger start at the beginning of the european trading day. let's turn to china. global demand weighing on sales. shipments dropping by 6.1% from a year earlier. the country also asking some banks to stop processing cross-border yuan. according to a number of people familiar with the matter. cio of acumen management still with us. when you see this drip of capital control coming through arounde pboc, individuals at what they can do or companies and what they are allowed to do, how much does that raise flags for you and give you underlying concern about the chinese economy or do you say they have great control and levers at their disposal and can keep that going? ken: the size of the economy is the capability of what they can do. tools.to mehest of it seems more of this is what we can do.

francine lacqua hosts christine lagarde, italy's finance minister, and bridgewater's ray dalio, as wells former u.s. treasury secretary larry summers. we bring you those live in full. we are minutes away from the open. we take a look at the movers in today's trade, including fiat chrysler, accused of diesel pollution violations in the united states. priceects the share big-time yesterday and it looks like it will go the other direction this morning. this is bloomberg. ♪ just about six and a half minutes away from the open of european trading. one of the stocks we are watching his fiat chrysler. the company was accused of violating pollution laws in the united states by the environmental protection agency. shares closed down more than 10% in u.s. trading. in europe, milan's premarket indicates they will be up around 7%. for more on what is behind the likely bounceback is bloomberg's tommaso ebhardt, who covers fiat chrysler out of milan. first off, widely you think we're seeing this, what is indicated to be a bounce in this morning's trading? tommaso: yesterday in milan, the share lost 1

i will be speaking to christine lagarde, the finance minister of brazil and larry summers and the italian minister. how can we reconnect, how can politicians reconnect with the middle class? if you look at inequality and the rise of populism, was it -- should central banks have seen it and changed it? it will be an interesting debate whether theyack to were out of touch in the last couple of years. manus: we look forward to that. we have some set pieces for you. some inflation data in germany. coming incpi number as was expected. the prior reading had been 1.7% or the initial reading. that is exactly what has been confirmed in this final reading. when you look at these -- in this series, they come through as were anticipated. when we saw that number it was deemed to be pretty strong and certainly took some by surprise. of strongen a raft data. yesterday we got the investment -- investor confidence numbers. growth doubling and unemployment continued to drop. --t extent does this move the ecb thinking? and suggesting it does make it a little more difficult for mario draghi to plow a dovish

included in that lineup, christine lagarde. a former u.s.secretary -- some pretty interesting coverage coming up, both on tv and on the radio. matt: i wonder if dead mou53. will be back. we will take a look at how cold weather has left energy suppliers scrambling. this is bloomberg. ♪ guy: welcome back. let's take a look at with happening with sterling. the cable rate, the jonathan ferro cross rate, didn't work out that well thi for me this morning. this is what we have seen -- this is as we price in the gap coming from 10 downing street. we are waiting to see whether the speech actually delivers the same kind of narrative going forward. i'm just going to change things call this the miller ferro cross rate. matt miller is moving to berlin, john to new york. as you can see, this has been going in the wrong direction. matt: yes. guy: i just like to point that out. matt: yeah. it wasn't all bad. it was 105 on the day i came here, november 11. it?re not patenting guy: no, miller shows up, just pointing it out. guymatt: right, ok. and we are back

christine lagarde, head of the international monetary fund made an interesting point to me when i interviewedo talk about this stuff with global banking leaders, investment leaders, politicians, than not. for a number of countries that don't feel top of the table, south africa, mexico, other south american countries, asian countries, this is a chance to talk to the big bankers and get investment into their country. there is a point to davos but i understand some viewers at home might think the whole thing is ridiculous and shows just how much the global elites are out of touch. looks glorious weather there. if a little chilly. thank you very much indeed for the time being. economic editor, ahmed in davos. we have pictures from india where boris johnson is currently on an official visit. he's been playing cricket in calcutta today but yesterday the foreign secretary made comments which were interpreted as him comparing francois hollande to a nazi guard. after the french president said the uk would get a worse trade deal with the eu after brexit negotiations. as you can see here, mrjohnson, the

christine lagarde says the solution is greater wealth distribution. overong shadow

on wednesday, a discussion on the crisis of the middle class, francine lacqua hosts christine lagarde andill bring you those live in full on bloomberg television and on radio. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. yvonne: thank you. theresa may set to announce the u.k. will pull out of the eu single market when she sets out her brexit plans on tuesday. she will say she has no interest in a half in, half out approach. we hear hard brexit, clean brexit, but we are focusing on what it all means. sophie: there has been a lot of rhetoric, the speech was to be delivered today, so volatility in the financial markets, expected to quit the eu single market for goods and services and a new trading relationship with the bloc. release, to extracts i'd like to share one of them, the u.k. is to seek a new an equal partnership between an independent self-governing and our friends and allies in the you. we do not seek to adopt a model enjoyed by other countries, hold onto bits of membership, so certainly rhetoric a

and also talking to the german finance minister saying there's a little too much optimism and christine lagarde political europe in 2017. tom: the character and nuance of davos is uncertainty, it's not just a simple phrase but has a lot of reflections. francine: i caught up with the chairman who complained of a lack of purpose. earlier we spoke with the former u.s. treasury secretary, one lawrence summers and here's some of his key takeaways. mr. summers: i see very disturbing tendency to enable whatever the instinct of this new administration is. and i think that's something that over time the business community may come to regret. francine: the main takeaway, actually, is there a lot of uncertainty, people are trying to have a veil of optimism of 2017 and this could come from a renationary stance from donald trump but no one really knows how the political landscape in europe will change and how business and politicians will react to that. tom: this is the most important insights from jp morgan. you've got uncertainty but you can't model it, you can't guess it. there's no fancy mathematics for

imf managing director christine lagarde said trump's plans to overhaul the tax system and increase interesterate go-to over the u.s. economy in the next two years but is too early to predict how the other policies may impact economy. global news 24 hours a day powered by more than 2,600 journalist as and analyst in more than 120 countries. i'm emma chandra, this is bloomberg. david: the trump administration is to mean a new day for infrastructure spending but do the industrial companies see all the promise of the new growth the markets seem to anticipate? that's next, this is bloomberg. alix: this is bloomberg daybreak. as we close up, one of the busiest weeks for earnings, the question is what's the reality versus the hope when it comes to a trump white house. example, case in point, caterpillar up 15% since the u.s. election but the company has a less euphoric outlook for 2017. it said in its earnings release the expectations for sales and revenue in 2017 are now slightly lower due to the strengthening of the u.s. dollar the past few months. overall economic environment remains challengin

a lot of discussions here, the one with bloomberg and ray dalio and christine lagarde, talking about need to take on this populism, jamie dimon saying if europe doesn't deal with this, the euro area could splinter, so yes i think they are on board. francine: this is really, there's a huge symbolism in theresa may coming to davos a couple days after she spoke to her nation about her negotiating tactics, or what she will and won't do and what she prioritizes. she is trying to put criticism to rest that the u.k. government is not prepared and that they don't know what they want. simon: i think she does it to spread the message -- she's a bit of an unknown quantity in davos. she was a home secretary for a long time. she's a bit of an unknown quantity. she gets to see all the banks, the businesses, the world leaders, and she can make that point that britain is going to do brexit and what it is going to look like. it is not really in her hands. francine: she also mentioned that free trade and globalization are being questioned. that we know because of the election of donald trump in part b

christine lagarde and people estimate the externality of climate change costs us $5.3 trillion per yeare might slow down, in which case we have the second-biggest in this world not fully participating. it is hard to unwind the paris agreement in such a short time. it is difficult to refer the economic trends that are playing. while i am not belittling the challenge ahead of us, i think a lot of people have a lot of energy to deal with them. you make sure you deal with sustainability? >> the first and foremost should be to guarantee the company itself. many have tried to put that into quarterly profits. in the lastas been 50 or 60 years, the average length of the life of the public traded company is to 70 years. people start to realize their responsibilities are to ensure these companies cater to multiple stakeholders and do so in a way that chairman overtime will benefit. chief executive paul palm and there. right. security and rising inequality. the world economic forum has an idea. this is bloomberg. ♪ . . . . i've spent my life planting a size-six, non-slip shoe into that door. on th

christine lagarde, head of the international monetary fund made an interesting point when i interviewedght, it's better to talk about this stuff with global banking leaders, investment leaders, politicians, than not. for a number of second—tier, countries that don't feel at the top table, south africa, mexico, other south american countries, asian countries, this is a chance to talk to the big bankers and get investment into their country. there is a point to davos but i understand some viewers at home might think the whole thing is ridiculous and shows how much the global elite are out of touch. our economics editor. he's been speaking to the prime minister, we'll bring that interview in full on bbc news. do stay tuned for that. live to laguardia airport, new york, where donald trump is about to leave new york to head to washington. where tomorrow, of course, he will become the 45th president of the united states. earlier we saw him in a motorcade leaving trump tower for the airport. we understand he has arrived and we'll be taking off for washington in the next few moments. we gather