IMF cuts UK 2019 growth forecast, as Davos begins – business live

Collecting her WEF crystal award, Cate Blanchett tells the audience that we must rebuild the ‘shared bonds’ between people if we are to tackle the refugee crisis.

The Australian actor laments the lack of empathy and compassion. She explains that if we can drop the ‘loaded label’ of the word ‘refugee’ it is earlier to see the person behind it.

It is “very very easy” to turn your back on those in need, if you don’t think of them as fellow human being, Blanchett says, adding:

(@byHeatherLong)

Actress Cate Blanchett takes a swipe at Trump in her speech at #Davos . She didn’t mention him by name, but she lamented political rhetoric that “gnaws away at our empathy and compassion” for others, esp. refugees pic.twitter.com/X2kOuivuL9

Pope Francis has sent a message to the World Economic Forum, and it’s a stern warning that capitalism is failing to serve the people.

The message is being read by Cardinal Peter Kodwo Appiah Turkson.

In it, the Pope says there is a “moral imperative” to create the conditions needed to allow everyone to live in a dignified manner

He’s urges delegates at WEF to build a better foundation for a just society, that can restore dignity to “those who cannot dream of a better world”.

Pope Francis warns of “growing fragmentation between states and institutions”, with new actors emerging, and new economic competition and regional trade agreements.

In a damning verdict on the world today, the Pope warns that “an ambition for profit at all costs” is driving future fragmentation and individualism, rather than inclusiveness.

He says:

Ordinary people risk being treated as mere cogs in a machine to be exploited, the Pope continues, adding:

He also warns that artificial intelligence and robots must be used for the service of humanity, rather than to undermine it.

Economic freedom must not prevail over the freedom of men and women, and their rights, the Pope says, declaring:

He concludes by wishing WEF his best wishes for a successful meeting, and invokes ‘the divine blessings of wisdom and strength” on those attending.

Given the state of the world, I think they may need it..

Klaus Schwab welcomes delegates to the 48th World Economic Forum.

He calls WEF the “foremost multi-stakeholder group in the world”.

This year’s delegates include politicians, business leaders, the heads of international organisations, charities and trade unions, plus the new generation of young global leaders.

The point behind WEF is is that governments, businesses and civil society cannot solve the world’s problems alone.

He reminds us that WEF’s ambition is to “Improve the state of the world”, and urges delegates to follow three rules:

respect human dignity and diversity

serve the community

be a trustee of the next generation