oil prices hangover davos -- hang over davos.ctions be ongoing and what does the oil price mean for the russian recession? how long is that going to last? ♪ >> welcome back. you are watching "the pulse ." >> russia is front and center in the swiss alps. joining us now is russia's deputy prime minister. >> thank you very much. >> talk to us about how concerned you are about the recession continuing and how russia will get out of it. >> last year, we had some growth. low, but still growth. the russian economy is more stable than the oil price shocks. but it is difficult with the oil price below $50. we are concentrating on the things that are more important than others. we need to make sure that food production will be stable. 5% growth in agriculture is very good. we concentrate on subsidies for people who need them. we concentrate on the banking sector. [indiscernible] it is daily anti-crisis work that we are doing now. [indiscernible] >> would it be a mistake to downgrade the s&p -- for the s&p to downgrade russia to junk? >> it

davos distracted by all.o to our world headquarters in new york. >> we start with the european central bank on the verge of taking its boldest step yet to fight deflation. at 8:30 mario draghi may announce a massive bond buying program that could exceed $1.2 trillion. the quantitative easing is aimed to boost consumer prices. not everyone is on board. the plan is already being criticized by some as too little, too late. the european central bank -- the violence in eastern ukraine is getting worse. artillery fire hit a transport stop, killing 13 people. ukrainian forces have killed back that pulled back from airport terminals. germany's foreign says there was tangible progress in new peace talks. a new twist in the wireless world. google will sell wireless service directly to you. google has reached deals to use the networks of t-mobile and sprint. no word when google might start this service. the cloud storage company boxes pricing its ipo after the market closes today. that is a signal that box faces stiff c

back to davos and liz. liz: tracy, it's day one of davos dish.oming up next, charlie gasparino and anthony scaramucci join me with all the scoop of the behind-the-scenes networking going on in davos. the party is just getting started. the lightest or nothing. the smartest or nothing. the quietest or nothing. the sleekest... ...sexiest, ...baddest, ...safest, ...tightest, ...quickest... ...harshest... ...or nothing. at mercedes-benz, we do things one way or we don't do them at all. introducing the all-new c-class. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. . liz: welcome to the first installment of davos dish starring charlie gasparino, anthony scaramucci and myself. this is where you get the behind-the-scenes scoop of what's going on here. what's that? >> look at that, look at that. >> you fell and hurt yourself. >> i think the weighty titles of curing world hunger and there's one title i think you should know. this is a veneer what goes down behind the scenes. and anthony knows bette

let's ask the brand new ceo inga beale, with us in davos. are you having a good davos, inga?c. my first one, actually. i'm learning a lot and meeting great people. liz: insurers are huge when it comes to the leaders and the central bank the governors are thinking about. what have you talked about most? what conversations have been your focus this year? >> yeah, so being one of the big insurance markets in the world, we focus on all sorts of different products and the biggest product we've been talking about is cyber. cyberinsurance. cyberis one of the big, big threats to businesses these days. every year we do a survey of business leaders and say what are the big risks? cyberrisk has jumped up to 3 from 20. liz: inga, how much does it cost to insure a company against cyberterrorism. we want to put a price tag on that, we talk about it a lot on fox business. >> we can't give individual information. the premium was 850 million globally two years ago, it's gone up to 2.5 billion already. most of that is in the u.s. we have to help the rest of the world understand it's a threat t

have a great davos. turn attention to rob a bank international senior fx strategist james foley. i'm fascinated. talk to me about the liquidity in the market at this moment. is anybody trading danish kroner or swiss francs inside or have you moved to the margins? >> what is so small from a historical point of view what is true is there has been extra flow on the danish krone. perhaps some speculators trying to get it in after the fall of the swiss national bank. i think this is a different circumstance. the danish krone is not a safe haven. they are probably quite right when they say they have the tools to protect that peg. in terms of the swiss franc, the markets reeling. it is difficult to forecast where the value of euro-swiss will be in three months' time. a lot of people have to be trading in that currency in a currency rate is a difficult time. as we look forward i think the commentators were very correct in saying that perhaps there is a big communication error by the swiss national bank. i think

davos is trending. we'll be back with more from davos. ♪ >> welcome back to "countdown". that is under discussion is something to do with robotics. i understand the future of robotics in fact. it looks like 2015 could be the year for artificial intelligence and when it really starts to take over. >> robots can first of all have access to that amount of dats. as they are moving through an environment, they can access data from on demand figuring out what they need to download . remember in "the matrix." how to put programs together. how to interact with something. now robots are sharing information. when one robot discovers a better way to pick up a -- it can share it with other robots. that is what google is doing with the robotic car. the advantage that google has is they understand the nets work. that car is constantly download ing maps and traffic and weather conditions and sharing it with all the other robots. in the future, it will be able to be performed by the robots like autopilot. autopilots are better than human pilots for landing in foggy conditions. there is s

olivia in davos. -- olivia, in davos, they are ripping up the script. >> we start with the state of the union. president obama said the economy has healed. he told the republican-controlled congress that the evidence was in that his economic policies are working. >> at every step, we were told our goals were misguided, too ambitious that we would crush jobs, explode deficits. instead, we have seen the fastest economic growth in over a decade, deficits cut by two thirds, a stock market that has doubled. [applause] >> the president pledged to work with lawmakers, but many proposals are unattractive to republicans. turning to japan, the country's central bank has cut its inflation forecast and cap to record stimulus in place -- kept record stimulus in place. the boj has been trying to reinflate the economy, but has not been able to hit its 2% inflation target. the price of gold has gone over $1300 per ounce. investors are returning to gold after shunning it for two years. capital is flowing into safe assets. gold is up 10% this year. peace talks over the fighting in ukraine begin today. fo

liz claman in davos with novartis' ceo.: last week $100 billion was slashed from the market cap of blue chip stocks in switzerland after the swiss national bank said we can no longer cap our currency against the euro. what was that day like for swiss companies? we have joe jimenez, the head of novartis, the swiss pharmaceutical giant. thank you so much, because this is a very important interview to hear your perspective first on what that was like when you heard the news. >> our first reaction was, okay, what does that mean for the company, and what are we going to do about it? now, novartis is quite a multi-national company with a lot of sales and costs in other parts of the world, not just switzerland. switzerland's a relatively small company for us, so the situation for novartis will be that we've got about 12% of our costs in switzerland. so a rapid appreciation of the swiss franc means that we've got to address our cost base particularly in swisserland. liz: but your stock did not react asker the write as -- asker the

monetary policy is the theme in davos. ♪ >> we are in davos at the world economic forum. is in frankfurt. let's bring in hans nichols. hans, give us a sense of what we are expecting from the ecb. >> i will be looking at the headline number. $1.1 trillion in sovereign debt through 2016. after that i will look at the number of dissensions. $1.1 trillion is the number presented to the governing council. did that get whittled down? how many dissensions are there? how will they make sure you cannot have greece or cyprus benefit from this by having their debt being sold. finally, what sort of losses will individual member countries be forced to observed. you look at some of the key rates and you look at the way the breakdown may happen. you could have some 90 billion euros in debt but by the ecb from germany this year -- by germany this year. you look at the total debt germany expects to issue this year, they will roll over another 155. almost 2/3 of potential debt issued by the german government could be bought right here by the ecb in frankfurt. or if they do it through local

now we know julia russia has been a hot topic in davos. tell us what various leaders have been telling you. >> the european bank said growth would fall for 5% for russia. is there a no go or still opportunities there. listen to what they had to say. >> there's no doubt we also stand to see the russian crisis in western europe. there's no resolution. we should be concerned this could last for a long time and could bring europe back into recession. >> we are doing the important task of bringing world practices into russia world investors into russia and russia needs to be connected to the world and the world will be a safer and better place if it is. >> what was not in the cards was the drop in the price of oil. that doesn't effect only russia. it effects every exporter of oil but that has added, i would say accelerated a process. they had 500 billion in reserves and they have been losing but that means they're not going to be accumulating simply because of the oil drop period. >> now i want to pick up on the oil part of that equation as far

>>> let's take you to davos now. joining us is phillip jennings who is the general secretary of the uni global union. thank you for being with us phillip, on gmt. in thanks for the invite. >> you've got quite a task there convincing the super rich that the widening gap between the rich and the poor is bad for them. them. >> we take on the task with relish. when i first started talking about inequality of wealth and income distribution just a few years ago i was laughed out of court. what we've seen in this meantime is the body of evidence swelling everywhere we have massive inequality in wealth distribution and at the same time massive inequalities in the distribution of income. we are living in the new globalized area of economic futilism. >> are you feeling a commitment from what you've been saying for months to the super rich at davos? >> as we look at the changing conversation taking place. imf agrees with us. the international labor office agrees with us united nations on the same track with us. we begin to see

davos.hey need the snow for the ski industry. some of the dynamics we are seeing this year. this is an important interview. you know the important contribution of recent years. we could talk oil, we could talk to the dakotas. it is pushed aside for king abdullah. i want to take it back. i have been upset at media coverage. this is much richer. >> chevron showed up and paying him money for expiration rights. >> there may be oil on the east side. >> you move on. there is the burgeoning middle east with qaddafi. constant has been a family. to get through faisal to abdullah and beyond, why has there been such consistent the? >> different tribes he married into abdullah's family was a rival tribe. after he conquered them, he married one of the ladies from there. that is how the kingdom was united. people have been predicting the british ambassadors. it is unclear how they can survive. >> let's bring it forward to today. there is the new canaan, a new crown prince, and beyond that, there is it mys

set to arrive in davos. thomas jordan faces the forum after last week's spectacular change of policy. >> hello. welcome to "countdown." i'm mark barton. >> i'm anna edwards. we have over -- loads of ceos. a lot of prime minister's. they companies over there. >> they are all here. what they're talking about is the price of oil. that seems to be the subject everyone is focusing on here. how big of an impact will have on the global economy in 2015? what will it mean for the businesses for their countries? everyone is trying to figure that out. the pace of the change has been so dramatic. no one has an answer. >> it is interesting. we walked around. there were plenty of ceos and finance ministers that now work for banks. when you chat with them on oil and swiss franc is this off the record? and still try to figure out how to read into this. this is the crux of the problem. a lot of the sessions are full. you haven't quite figured it out. >> it's too early to say. the pace of change has been so fast. this is a cu

. >> we are live in davos. i am francine lacqua. >> and i am guy johnson. >> a central bank governor joins us. >> and we will sit down with japan's central bank governor. he will be joining us later. ♪ >> king abdullah of saudi arabia has died at the age of 90 after being admitted to the hospital with a lung infection. >> he became ruler of the world's largest oil producer in 2005. he will be succeeded by his half weather, prince salman, who is 79. he used the oil wealth to oversee a fivefold increase in the size of the arab world's largest economy. >> president expressed his condolences to the saudi royal family, calling abdullah a ruler who took a bold stand. the price of oil futures rose in the wake of the announcement of his death. >> of his death. >> in the new came will face an immediate foreign-policy challenge in neighboring yemen as the president there has resigned after shiite rebels have seized a palace in the p >> the rebels failed to honor an agreement to withdraw from the palace. in his letter of

especially when we get to talk in davos.nd president of marriott, arne sorenson. >> stick around. ♪ >> coming up, greece on the brink. voters are ready to fold in a government close to anti-austerity measurements. ♪ >> live from the world economic forum in double, switzerland, this is a special edition of "market makers." >> welcome back to "market makers." >> we are live at the world economic forum in switzerland. >> the sun has set behind us. the european markets just closed. it's freezing here. stocks had a good day on this side of the pond. let's look at what is driving the rally. since we are here with our european compatriots, we drag them out here. >> francine lacqua is here. [indiscernible] >> john, talk to us about these markets. >> mario draghi the last two days it is been crazy. the dax record highs. remarkable stuff. drops of 10, 20 basis points across the eurozone. the euro a big drop the last two days. it has been remarkable and historic, and off the back of a big ecb meeting yesterday. >> who did you speak wit

plenty more from davos. stick around. ♪ >> good morning, everyone. from davos, switzerland.inues to weaken. the ecb we saw yesterday. they attacked the flechette. we look at the ramifications for america. daniel yergin and a little bit. first, to new york city. >> the world is reacting to the news that saudi arabia's king has died. he was believed to be 90 years old. he had been on the throne. his successor is his half-brother, salman. there is a question on whether he will change

why do people go to davos? people go to davos because people go to davos. a great place to network.f people showing up for these three or four days. more than 40 world leaders, including angela merkel, francois hollande, bill and melinda gates. the chinese premier will be there. china, yes, will be at the forefront of discussions. what the swiss national bank did will have wide ranging ramifications in all discussions. we had an interview with the head of the world economic forum and he had -- and he said yes, deflation is an issue. move lastso the s&p week has multiple reverberations move last week has multiple reverberations around the world. know thenot always unintended consequences of decision-making. look at the swiss national bank. they did not know the consequences the decision will have. europe is at the forefront, but there are concerns related to china. even if i am optimistic about china. we should not just focus on one single issue. we are in a world of multiple challenges. >> interesting. he said of course, the world was shocked by the move by the swiss national bank,

you're not in davos. needed to be in the states but congratulations on what some people are calling some signs that maybe it's turning around. it's a huge company but maybe you're seeing some fruits to your labor. >> we certainly are. we saw a $7 billion cloud business for us last year growing at 60% which for us is a pretty big dproeth number on a pretty substantial business and that puts us at the forefront of cloud service providers as well as in total we talked about a $25 billion set of businesses focused on the strategic imperatives of ours growing at a solid double digit rate so we see a lot of sign posts here that the business is on the right trajectory and the strategy is paying off. >> so the cloud strategy that the company is employing, these are signs that this is the right way to go because martin i guess there is probably a moment of reckoning, what was it three or four months ago you remember the stock was up above 180 or so and the company had to concede that there were things that weren't

. >> and that's a davos moment. ♪ ♪ >> this is another davos moment.meet him in the future. you'll never know when it's relevant so you make every opportunity you can. >> always. this is classically, this is classically dating. >> looking. >> he's never really looking at me. he's just looking for who is behind me. ♪ ♪ >> when it's all over and done with everybody says never again. it's too much. it's too long. it's too tiring. it's too boring and there's too much nonsense and i'm never coming again. never coming again. >> and guess what? >> never coming again. >> see you next year! [ laughter ] >> never! -- captions by vitac -- www.vitac.com >>> good evening, everyone. 6:00 here on the east coast. you're in the cnn quote newsroom" i'm poppy harlow joining you in new york. 57,000 people in the path of the a winter storm. expectations are for white-out conditions and heavy ice and hurricane-level winds. a blizzard warning will cover new york city and boston that will stretch up to the canadian border and maine. millions of people being washed to stay off

i am stephanie ruhle davos in davos.zker. >> guy is here to take us through the closed. >> what a call -- roller coaster of a ride. the european market is responding to what mario draghi delivered earlier on. we had been told it should be positive. axel weber kicked off that story this morning. since then, the main market guys have been telling us that. you can see it on the screen. the euro has been dipping strongly. there has been a speed through into the exports. ec castoffs doing well -- bmw trading higher, daimler, stocks like renault in paris -- they have been a good day as they continue to motor on. the biggest holdings in government bonds here in europe they continue to gain in value. the yield continuing to get crushed. the spanish-yield under pressure. 10-year. mario draghi wanted asset prices up. he wanted to get the euro lawyer -- lower. he wanted to get the export market moving. tick i the box there. he did even more what's on were expecting in the market close reflecting that. >> guy johnson, thank you. >>

and we have headed back to davos

i'm reporting are the world economics forum in davos, switzerland. the ceo of one of america's largest bank stocks. >>> a couple educating kids in africa. >>> and awhat's andrea pucelli doing here? >>> here's a look at what's making news a massive new stimulus program for europe. european central bank president announced a bond paying program to push up -- the long 'r awaited $60 billion euro a month program was much more aggressive than in analysts respected. it helped push u.s. stocks up with the dow rising more than 200 points after a choppy week, but the markets fell on friday. earnings seasons continue with a mixed picture of its own. ibm came in ahead, although isles revenue did fall short. >> and microsoft has been busy lately, the software giant unveiled it's new operating system. the u.s. will come with two browsers, it's tablet and touch friendly and it will be available later this year. >>> bank of america is the second largest bank in the united states and it touches more than half of the population. fibtd out what the all important mvrn

jack lew will join us as well, life from davos. -- live from davos. ♪ >> i want to head back to devilsow -- to davos right now, the world economic forum. busy day for our anchors including erik schatzker, who is with jack lew. >> thank you so much. it is an honor. thank you for spending time with me. let's begin with the obvious quantitative easing in europe. we got the announcement from mario draghi yesterday. is it enough to get the economy back on track? >> we have seen in the united states if you take decisive action using all the leverage you have, you can turn around a bad situation. in the united states, we use monetary policy, fiscal policy we reformed our financial system in a dramatic way. here we are, six years later, and things are looking much better. the conversations i've had this morning, people are almost a billion -- almost bebullient about it. europe has been slow to pull all the levers into play. what we've been saying consistently is europe needs to use all the levers as well fiscal policy, monetary policy and they need to do structural reforms. so, i think that, i

he duds a lot of business in davos -- does a lot of do business in davos. i max's rich gelfond.tell you that there are celebrities among us. there always are here in davos. we'd be remiss if we didn't kick it off with at least one of them. andrea bocelli, one p.m. eastern. we're going to see if we can get him to sing a ditty for deirdre bolton. we just want to underscore that team fox business is here in full force and, by the way, the entire show can kicks off tomorrow, 9 a.m. eastern with maria bartiromo. she's got the chairman of ubs. again, a swiss company. she will tackle the whole swiss franc issue, all the issues that are big, and then as the day goes on, davos dish. it's our first installment. charlie gasparino, anthony scaramucci and i will dish about all the scoop that you can't see. we'll bring it to you life starting tomorrow. see you then. lori: oh, charlie gasparino. [laughter] thank you, liz. we're just about 29, 28 minutes from the closing bell, and the dow's holding up, about 17, 18 points right now. >>> well, have you ever found yourself staring at a broken sin

she joins us from davos. first, let's take the opportunity to have a listen to some of her music. ♪ >> angelique, good to have you with us here on "gmt." congratulations on your award. when you're in a room with some of the most richest and powerful people in the world and you've got them cornered what is your message to them? >> my message to them is invest in education. to help the government in the poor countries is best is education. just for the sake of their own business. because you have women ceo, your business get better. you get women employees, they work better. girl's education is proven to be the most efficient economic tool that we have to get out of poverty. >> and angelique, does it feel as if the missing chibok girls and the international attention that was brought to that story and to what's happening in northern nigeria has sharpened your argument and helped you? >> well they are listening, because they're realizing, what happened in nigeria, can happen other places if we don't secure this.

that is the purpose of davos.y to do that is improve the state of the world. >> is silicon valley giving enough? >> no. silicon valley has a history of indigenous. most important thing is business visa realize they are part of the solution, not the problem. we need to work to employ people. this is something we have to do together. this is why we are here. >> mark been aenioff here. >> stephanie ruhle on "market makers." we are roughly 15 minutes into the trading day. happening right now, patriots and bill belichick speaking at a news conference saying he had no knowledge of the deflated balls. we will have more. >> 20 minutes into the trading day. i want to get back to julie hyman. >> earnings reports over the last 24 hours 12 hours, even. ebay moving up. earnings disappointing, but ebay is cutting 7% of its workforce annexed loring options for its enterprise unit. it came to a standstill with carl icahn. he will be adding to southwest profits because of the benefit of fuel and the increase in demand for travel.

this weekend, the three of us will do something called davos dish. daily scoop of what's going on at this gigantic event that's on a tiny swiss alp town, we head into my sixth year into the economic forum. here's a glimpse of highlights from past years. take a look. ♪ ♪ ♪ ♪ so team davos, which includes maria bartiromo, anthony scaramucci and charlie gasparino along with moi, we are going to cover it like you can't imagine, ready, charlie? >> i don't know. liz: this is charlie's first year. >> let's get to my story. goldman sachs had earnings today. we're going to talk about how liz and i are going to survive davos in a second. serious stuff here. goldman sachs had lousy earnings, particularly the quality of the earnings, they made it through not trading revenues, not investment banking, they did not have a great earnings, it is renewing from what we understand the call from analysts that goldman needs to diversify and go out, buy an asset manager or buy a brokerage firm. here's the interesting thing, three days ago you had dick bove saying he doesn'

davos is certainly the place to launch a new adventure.ore about this. >> there are 3 billion people in the world who don't have access to the internet or don't even have a mobile phone or wifi. what we're planning to do is put up a very large array of satellites around the world, which will give many of them the chance to get internet access and wifi access. you can have internet access get educated. you have a mobile phone, you can start a business. we think it's going to be a very worthwhile venture. >> which countries in particular are you targeting and which kind of age and wage brackets are you targeting? >> we're really targeting anybody in the world who doesn't currently have internet or have mobile phones. in some of the poorer countries in the world, that's a lot of people. in some of the richer countries, people who live in rural areas. so the network will be global. then we'll talk to individual countries and find out which ones would welcome us and which ones won't. i think most will actually welcome this initiative. >> indeed

you're surrounded by the top 1% in davos.t's -- what sort of role did they see themselves playing in making some sort of adjustment to make the lives of the middle class not just in the united states but we're talking about globally here. the middle class carries the burden in most countries. how did they see that shift occurring? >>. >> reporter: that's a great question because as the president was giving the state of the union address last night, most in davos were sleeping because of the time change. they're waking up to the headlines and reading about the address this morning. as i was down mingling with people as they were having coffee. that is what they were talking about. the headline on the "new york times" saying it well obama defiantly pushes his agenda. he's pushing for very dramatic things this a lot of republican aren't going to like and that very well may never get their day in congress to get past. things like raising taxes on capital gains to 28% for high income earners. raising taxes on couples who bring hom

davos. larry summers, and goldman sack's gary cowen all sitting on stage together. expectations of a bond buying program in europe already had an effect. she points to currency and where the euro is now countries around the world are already engaged in a currency war in an effort to boost growth. >> press andrew is supposed to give a press conference later today about the sex scandal he's involved in. this is what people are really talking about here. >> we were 100 billion a month qe. >> at one point, yeah. >> they're doing 50 billion euros. >> that was money at one time. >> what was that? probably 63 or something? >> yeah among the biggest questions in europe right now is the fate of greece lots of talk about a potential exit from the euro zone. now a snap election could put the country's bailout -- what's today's date? >> the 2 -- >> isn't it the 25th? >> 22nd. today's the 22nd. >> i thought it was saturday. >> i think it's the 25th? michelle knows. that's why our international correspond

joining us from istanbul richard engle in davos. i feel a little more worthy of tossing to richard now that i'm international as well. good morning richard. >> good to talk to you. i hope you're enjoying davos. >> very much although it's cold today. >> so yes obviously the big story right now is the transition that is underway in saudi arabia with the new king king salman and the burial of king abdullah which is supposed to take place in about an hour. burials are very quick and usually within hours of the king's death. he's buried in a simple grave marked with a stone. not an elaborate procedure at all which is in adherence with the religious traditions. they are expressing continuity. they're not expecting major changes in policy. oil policy security policy. the new king is well-known. he was governor for about 50 years. he himself is 89 years old. so this is not like we're getting an unknown quantity to come uproot saudi society. they're talking about managing this transition and making it as smooth as possible and for a lot day-

that means davos.f economists and bankers drinking hot cocoa at the world economic forum in davos. talkinga about making money with sam

everybody has a view on oil right now in davos. you you have two portfolio managers saying look the oil situation is going to surprise people in terms of the snap back in speed and in scale. what are their thoughts? >> well we're on a substantial energy dedicated fund and we have to have an opinion and simple reason. we think the marginal cost dictates. we think demand is there in what is still a growing world economy and we see some supply discipline being brought in by this and typically oil prices have snapped. >> you're aggressive in terms of prediction. $60 q-1, and $85 in q-4. that's aggressive. >> well the oil price more than halved. that's the answer. >> i'll leave it there on that one. the saudis what we saw from saudi arabia last night. speculation that we perhaps see some kind of shift as far as policy is concerned? we've seen criticism on this supply issue from within the royal family in the last week or so. what are your thoughts there? >> well the link between the change in saudi and the sad death of the king and the

first bump, let's go davos. this is the traditional dish, cheese and potatoes that they serve. >> you are going to get his galoshes on him. liz: i want him to be prepared. but i won't let him use the poles as a weapon, knowing charlie. >> let me tell you something, davos is one of the more sobering experiences, you realize where you are on the totem pole, that surround the foundation. billionaires and state leaders, the nobel prize winners, the biochemists, people that are reinventing and inventing the future. liz: by the way, between maria bartiromo, myself, charlie gasparino and anthony scaramucci. wait until you see the lineup wednesday, thursday, friday. kicking off coverage tuesday live from davos. hope everybody joins us, and doing davos dish daily on "countdown to the closing bell." thanks. charlie is out sick today, i think i terrified him with the ski poles. >>> big banks blowing it missing key targets, sending down stocks sharply. will the new year bring better results for beleaguered financials. chris

now the ecb is front and center in davos. we have been speaking to the ceos of the world's biggest companies about monetary policy all this morning. here's a selection of some of the comments. >> what europe wants now and needs now is a little bit of growth because growth will help solve many problems and we are seeing it happening in the united states. >> for us no significant impact to our pbt in 2015. secondarily what we're seeing is a world inherently more volatile. who would have said six months agatha oil would be trading where it is. who would have said two weeks ago the swiss central bank would do what it did. we have to build the resilience into the organization and when possible turn them to our advantage. >> the challenge is you had the ecb trying to bailout the policy makers if you like on the structural side. at the same time as you've had things like solvency two or banking regulations which have been preventing the loose monetary policy feeding through to the economy. >> step up to the plate and unveil a quanti

first to liz at davos. liz? liz: sun begins to set on day one in the world economic forum, things are heatings up in davos. much anticipation about tomorrow's european central bank meeting. what form will the stimulus package take? we have the prime minister of e.u. finland. lots of discussion about that and very revealing in his feeling about remaining in the european union. plus, the russians are coming. you know what? they're already here. we have andrey cost ten, he runs russia second largest bank. he is on a panel with ukrainians. talk about businessmen of both nations versus politicians. it is revealing interview. we'll see you throughout the hour here on "after the bell." send it back to you in new york. david: thank you, liz. we'll break down today's market johnson. craig johnson says the global market has room to work, room to grow. he will tell us how to play in this market. jnp ask you securities president has three picks to add to your portfolio. todd horowitz in the pits of cme. if it is wednesday w

why do so many of the world's influential people come to davos every year? here is the world economic forum roadmap. it has something for everyone from policy wongs to techno gigs. it's an opportunity to come together to change ideas and look at solving some of the world's problems. it's a great place to network, and given there's a chance to get out on the slopes you can see why it's attractive. does the talk and headlines achieve anything or is it hot air. >> the interesting stuff doesn't happen in the public forums but in the hallways. we had the world leaders talking in the '90s, of the turks in the greeks getting together trying to de-escalate things. a lot of changes have had impacts. >> but don't expect big declarations. the g20 this is not. there are those that argue that this talking shop has had its day. >> the idea behind the world economic forum is bankrupt is dead, and irrelevant. and that the west is irrelevant. >> why in. >> the west is based on the idea that the wealth can make the world right. that corporations can decide to do the right thi

we're joined from davos. john many people look at what the european central bank needs to do as s long overdue. how is it being viewed where you are? >> reporter: that's a very fair statement, errol. in fact the united states -- that's the topic of the debate of the panel you were showing there -- did this five years ago. and that's why the united states is growing between 3.5% and 4% in 2015. and the eurozone maybe will struggle to get 1% growth. many criticize the european central bank. angela merkel the chancellor of germany, for being too tepid to the growing financial crisis. that's where we find where we are today. slow growth. at the same time kind of enhancing the drama here at the world economic forum. while panels take place, merkel will be speaking at about the same time the bank will make a decision on interest rates and quantitative easing and whether they should be pursuing a path of austerity going forward. this sunday we have the greek election. polls indicate the greeks themselves are lunging

andrew sorkin ross sorkin has more from davos. >> reporter: looking down at davos, the movers and shakers of business and government take note of the change they've seen than a year ago. the world economic forum putting world issues into perspective with what it's calling the new global context but the discussions begin amidst a backdrop of new and potentially divisive tensions. >> society has gotten a bit more used to being divided. i happen to think this is a very very bad idea. i think we have a lot of work to do. this is in the united states and some other countries to bring our people together and that's the way you get the most out of this society. >> reporter: on the agenda middle east undersiege russia at odds with the west and the upcoming elections in greece. china's premier is in davos for the first time. the growing gap between the goals of government and those of big business and changing economic conditions in the united states economic stimulus has ended with slowing growth in china and no growth in europe. >> i think mario draghi's done a great job and i hope i think the w

we have this report. >> the mountainside resort of davos is famous for skiing. it is where the powerful gather for a powwow. the journey up to davos is one with a record number up her disappearance expected to attend including 80 billionaires -- number of participants are expected to attend, including 80 billionaires. the richest 1% own half of the world's wealth. the world's wealthiest 85 people own asthma money as the poorest to 3.6 billion. that is why growth and inequality are at the top of the agenda. >> i would call it the issue. we have success with-- if we do not address the issue, we will disintegrate societies. >> it is about how people at the top of the wealth mountain 10 assist those at the bottom. the world economic forum has reached out to those on the front line in of addressing economic hardship. complex his truck picked up unwanted food from those who are moving and delivered it to food banks. >> there has to be a way to do good while doing well, from a financial standpoint. it is the best way to operate a business. >> they do not hope to tackle

very funny, kyle. >>> welcome back to davos, switzerland.r stage here is education and new ways to get children in poor countries a chance in the classroom. joining us right now are the co-founders of bridge international academies, dr. shannon may and jay kimmelman who were named world economic forum social entrepreneurs of the years. they found a way to give thousands of school-age kids who live in poverty a quality education for the price of what you might pay for a gallon of milk or a cup of coffee. thank you for being with us. >> thank you for having us. >> can you tell us about this? you guys are the largest chain of private schools in africa. how does the whole model work? >> so it starts by putting the parent first as a customer and treating them as a customer. and then building a business model around that. then we heavily leverage technology so we change the way teachers teach and pupils learn so we can transform the education opportunities for hundreds of thousands of children right now across kenya soon to be uganda and nigeria a

he's in davos to receive a crystal award for his charity. speaking to us along with his interpreter i asked if he'd have a favorite song. he said it depends on the moment. >> translator: there is never one song that is a favorite song. it depends on the time of the day. it depends on how you're feeling. it really depends. >> that's an honest answer. i know your first love is opera and with the release of opera, the ultimate collection, i just wonder how important is it for you personally to bring opera to the masses? to make sure other people appreciate. >> translator: honestly, my whole objective the that i'm nourishing my soul and music is food for the soul. >> the other recording you're releasing is puccinis mano lesco. that's a sad story. >> it's true but opera in general is so sad. there are not many titles with a happy story. >> can we talk about your charitable foundation? i know that's why you're here. >> translator: in one word, what my foundation would like to do is help and first in poverty. we are working in the field in haiti wh

our davos virgin.oming up, we will speak to the ceo of cisco systems and the governor of japan's central bank. you do not want to miss these interviews. they are going to shank what -- shake what you think are john chambers is coming up. kauruda also coming up. what next for the bank? let's check in on equity markets. day seven of equity markets rising. the euro-dollar at an 11 year low. opaat an. 60 billion euros worth of quantitative easing to come. the euro is trading lower. we have not seen at this low. 2003. for the euro against the dollar. we are trading at 1.1348. join me on twitter. @manus cranny. ♪ >> welcome back. this is "on the move." i manus cranny. 30 minutes into the trading day, equity markets are rising again. day seven of equity markets on the march. the dax is the real leader here at 1.6%. qe, the announcement yesterday afternoon, all doing very nice. >> i've got a telecom for you. m&a as well. 02 will be snapped up by hutchison. they are in talks to buy it for 10.2 5 billion pounds.

as we speak, world leaders are gathereded in davos switzerland, some boring hash tags like #davos andhem there. we wanted to look at more colorful details to emerge from the conference. it's our swiss resort town themed daily spike. first up ukrainian president poroshenko nine civilians killed there after mortar shells fell into nets. and hours ago ukraine and germany and russia and france agreed to a buffer zone. poroshenko reminded them that it is home to 9,000 russian troops. vladimir putin likes to call them tourists. here's the apt visual. making its reliable debu as well cries of the hard about climate change from people who run companies breaking the environment. they are teaming up for a live earth environmental music event leading up to u.n. climate talks in paris later this year. over a 24-hour period it will span across six cities. my personal favorite a final played by a band of scientists by a research station in antarctica. perhaps the finest part of every davos, the irony. we thought this quote from jeff green, currently getting a lot of play online summed it up. quote,

gross -- in davos this week. >> security is always tight when world leaders meet in davos.hat it has been steped up. in the run-up to the world economic forum growing political tensions have been identified as the greatest risk to the economy. some participants are fairly optimistic about global growth. partly because of the recovery in the u.s.. >> but also, we expect the eurozone to grow a little faster this year compared to last year. more monetary stimulus from the european central bank, and very importantly, the euro is a lot weaker now, so expert -- exports will be stronger. >> but the bright spots are few and far between, considering the conflict taking place globally. there is a sense the world order is shifting and many feel the meeting in davos has become crucial. >> although participants complain about the long travel to doorposts -- davos for the high-priced price of tell, they always come back. this year, participation at the world economic forum is even breaking a record. quite a court in the rain has ascended the human rights activists -- activist to six mont