There’s a gloomy feeling in the air as world leaders and business chiefs gather at the World Economic Forum in Davos * Pope: Don’t neglect the poor * Roubini: Crash won’t be as bad as last time * BT chief fears contagion from financial markets * Italian bank troubles 5.27pm GMT ALEXIS TSIPRAS, THE GREEK PRIME MINISTER, JUST WHISKED THROUGH THE DAVOS CONFERENCE ROOM WITH A HEFTY ENTOURAGE. He wasn’t taking press questions, alas, but did share a quick, friendly handshake with Finland’s finance minister, Alex Stubb. 4.47pm GMT US oil prices crashed below $27 for the first time since 2003 after the International Energy Agency warned on Tuesday that the oil market could “drown in oversupply”. Venezuela requested an emergency Opec meeting to discuss steps to shore up oil prices, but other delegates dismissed the idea. New York light crude tumbled 5.5% to $26.89 a barrel on Wednesday, while Brent crude, the global benchmark, lost 4.2% to $27.56. Continue reading...
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