News Snapshot:
Dear Davos delegates and WEF watchers, Davos-week Mondays are unhurried affairs. The snow fell gently, and not for very long. People walked slowly, and found time for lunch. The official WEF panels had yet to start, so everyone prowled the Promenade instead, peering into corporate pavilions and drinking free Tata tea from a kiosk outside the Panorama Hotel. All this absence of urgency belied the big WEF report that dropped on the day: a survey of chief economists, in which two-thirds of them predicted a global recession this year. Businesses will lay workers off and shrink their spending. “The global...
