GENEVA — The annual World Economic Forum that begins today in Davos, Switzerland, is likely to be dominated by concerns that the sharp downturn of the U.S. economy, the world's largest, could trigger a global recession.The gathering of world business and political leaders comes as the Federal Reserve, responding to an international stock sell-off on Monday, took emergency action on Tuesday to reduce the U.S. benchmark interest rate by three-quarters of a percentage point."The risks of a significant slowdown, if not a recession, have been increasing," said Richard Samans, WEF managing director and a former economic policy adviser to President Bill Clinton.Along with concerns over volatility in global financial and energy markets, the declining dollar and China's undervalued yuan, the agenda includes high oil prices and growing apprehension about the rapid growth and clout of sovereign wealth funds.Climate change and terrorism, as well as corporate social responsibility, food and energy supply shortages, the emergence of economic powers such as China and India, and global trade problems also are on the table for the 2,500 forum participants.About 27 heads of state and some 113 cabinet ministers from 88 countries, as well as more than 900 chief executives from the top global corporations are slated to take part in the five-day meeting, which has the theme, "The Power of Collaborative Innovation to Benefit Us All.""The meeting gives us all a chance to understand and shape the global agenda for the year ahead and beyond," said Klaus Schwab, WEF founder and executive chairman.Top officials from 74 Fortune 100 companies are among the guests.National leaders include: U.S. Secretary of State Condoleezza Rice, who will deliver a keynote address on "Climate Change and Terrorism;" U.K. Prime Minister Gordon Brown, Japanese Prime Minister Yasuo Fukuda and Chinese Vice-Premier Zeng Peiyan.A series of high-level meetings are also expected to take place on the sidelines between the trade ministers of major trading powers such as Brazil, India, the European Union, the U.S., Egypt and Japan, on how to advance the stalled Doha global trade talks.U.S. Trade Representative Susan Schwab and World Trade Organization director general Pascal Lamy are likely to take active roles on how to advance the problematic global trade negotiations.
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)