But PWC’s global chair Mohamed Kande, presenting the broader results, says that most international chief execs are optimistic: despite, ahem, what’s going on across the Atlantic.
Almost 60% of those surveyed expect global growth to increase over the next year. As many as 42% plan to raise their headcount by at least 5%.
World Economic Forum (WEF) in the Swiss ski resort of Davos, the survey of almost 5,000 chief executives from 109 countries puts the UK in second place, ahead of China, Germany and India.
That marks the highest ranking for the UK in the survey’s 28-year history – up from fourth in 2024.
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That should cheer Reeves as she prepares for meetings with top business leaders and investors here in Davos later this week.
both jumped by more than 1% after the Wall Street Journal reported that Donald Trump will stop short of imposing new tariffs on US trading partners on his first day in office.
Santander has rushed out a note to senior managers after it emerged that the Spanish-owned lender is reviewing the future of its UK business amid mounting frustrations over regulation.
The European Commission has filed a complaint at the World Trade Organisation against what it described as China’s “unfair and illegal” practice of setting worldwide royalty rates for EU standard essential patents without the patent owner’s consent.
The accounting firm KPMG is under investigation by the sector’s UK regulator over its audit of the 2022 accounts of the gambling company Entain.
Stuart Rose, the erstwhile chief executive of M&S for six years until 2011 and then executive chair of its supermarket rival Asda until November, caused a row when he claimed working from home has meant a generation of people is “not doing proper work”. Experts disagreed, with Rebecca Florisson, a principal analyst at the Work Foundation at Lancaster University, saying: “Ultimately, there is no convincing evidence that remote and hybrid working is affecting companies’ productivity or bottom line.”
to do more to promote growth, including by watering down post-financial crisis regulations that ministers and bank bosses fear are dampening growth and driving away foreign investment.
Santander bosses have long been frustrated with British rules including the ringfencing regulations, which force bigger banks to separate and protect their consumer deposits from the rest of their investment banking operations. Watchdogs have promised to ease some of those restrictions, although the proposals are so far aimed at supporting smaller banks that have fewer deposits.
Santander, which entered UK retail banking through its acquisition of the Abbey National building society in 2004, is also grappling with the fallout of a growing car finance commission scandal, which analysts at RBC Capital say could cost the bank up to £1.9bn in compensation.
summoning regulators to Downing Street for check-ins, to review their proposed plans and progress.
The PRA will be among those hauled into No 11 in the coming weeks.
Climate activists sprayed green paint over Amazon’s base in Davos and disrupted helicopter landings at the start of the World Economic Forum’s annual meeting.
Swiss police ended both protests as thousands of global business and political leaders descended on the mountain resort on the opening day, where demonstrations over fossil fuels and climate change take place every year.
Demonstrators protesting over fossil fuels daubed orange symbols on the shop front where Amazon has set up a temporary base on the main street in Davos, as well as splattering green paint over the plate-glass windows, Reuters reported.
Greenpeace, which briefly blocked the heliport in Davos, called for “a fair tax on the richest people, to fund environmental protection and invest in a fair and sustainable future for humanity”.
Police moved in to remove around 10 protesters who were blocking two vehicles at the heliport entrance with bright yellow banners saying “TaxTheSuperRich”.
Greenpeace activist Clara Thomson told Reuters:
So far we have blocked 10-20 helicopters in one and a half hours. Over the course of the day we are expecting around 100 helicopters arriving here.
Top politicians and business leaders often arrive by helicopter in the Swiss Alpine resort. Security is tight at the WEF meeting, where one of the main themes for discussion this week is “safeguarding the planet”.
The WEF said on its 2025 programme that it is “crucial for businesses, governments, and civil society to work together to find common solutions and take decisive action”.
Source: theguardian.com
