"There are many forums around the world. This is one of them."
 

After a hectic week in the Swiss ski resort Davos, with world leaders and business experts swooping in to discuss the issues of the day, it's easy to forget there are other events going on – luckily Simon Freakley of Alix Partners reminded us – and you can read his full interview in today's Global Business Daily.

Also in Davos, our final Facebook Live will be online when this lands in your inbox. You can catch up with the week here. 

In other news, paying for international products in China may be about to become a whole lot easier after PayPal partnered with UnionPay.

And finally… have you ever wondered where the most sustainable companies are based? We have a map of the European countries where nearly half of the globe's most sustainable firms are located at the bottom of today's briefing.

Away from Davos, a new WTO appeals mechanism has been agreed upon by 17 members after the Appellate Body was effectively paralyzed. 

In other news, paying for international products in China may be about to become a whole lot easier, after PayPal partnered with UnionPay.

And finally... have you ever wondered where the most sustainable companies are based? We have a map of the European countries where nearly half of the globe's most sustainable firms are located at the bottom of today's briefing. 

Rember, sign up to recieve Global Business Daily to your inbox each weekday. 

Happy reading,

Patrick Atack
Digital business correspondent 
 

British Steel is close to agreeing a rescue deal with Chinese firm Jingye. Unions have warned 500 jobs may be at risk under the current agreement. 
 

A Swiss court has ruled against food giant Nestlé in the eight-year case of Yasmine Motarjemi, who claimed she was harassed and forced out of her job. 
  

Deutsche Bank has appointed former Germany foreign minister Sigmar Gabriel to its board.  
 

John Kapoor, founder of drugs maker Insys, was sentenced to five-and-a-half years in prison for masterminding a scheme to bribe doctors to prescribe an opioid painkiller. 
 

Despite an inquiry by UK competition regulators, Takeaway.com says it will continue with its takeover of the food delivery app Just Eat.  
 

WTO members including the EU and China have set up a temporary appeals mechanism after the U.S. effectively paralyzed the WTO’s Appellate Body in 2019. 
 

The euro fell to a seven-week low after yesterday's announcement that the European Central Bank would stick to its low-interest rate stance and launch a strategic review. 
 

China's airline regulator expanded its free cancellation policy to include all domestic flights – no longer limited to those in to and out of Wuhan – amid the new coronavirus outbreak.
 

Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said there’s potential to lift the foreign ownership limit to “more than 30 percent” given that other countries in the region have higher caps.
 

PayPal Holdings is taking another step into the Chinese payments market, partnering with state-backed China UnionPay. The partnership will allow some UnionPay cardholders access to PayPal’s network. 
 

Bayer AG is set to face a fourth U.S. trial over allegations that its Roundup weed killer causes cancer. Its subsidiary Monsanto has borne the brunt of claims against Roundup in Europe and across the globe. 
 

"One of the things I've personally been pleased about this year is there have been more young people around, and people of color"

We've seen an increasing divide here at Davos. It's making the business landscape a perilous place, and many are turning to crisis management experts, such as the consultancy Alix Partners.

Jamie Owen spoke to its CEO Simon Freakley about the challenges facing Davos, not least whether delegates here are simply out of step with mainstream thinking?

"One has to just appreciate that Davos is only one forum. 

There are many forums around the world. This is one of them. One of the things I've personally been pleased about this year is there have been more young people around, and people of color. There's been really more of a mix, I think, this year than I've ever seen before. I first came in 2004. So, is Davos representative? No, it's not.

Is it the only forum? Absolutely not. But is it important to engage senior leaders in these issues? I think so.
 

Throughout your career, you've been the guy who airplane manufacturers have turned to, holiday companies, auto makers. When there's a crisis, bring you in, sort it out, sort out troubled, failing companies. What is the biggest challenge and what is the biggest problem that big companies hit?
 

The most important thing remains leadership. So, not just engaged and strong leadership, but agile leadership, people making sure they're not a hostage to any strategies that have gone before, ensuring that their management teams and their boards are diverse and multigenerational to ensure that all of these perspectives are brought to a set of decisions. So, strong and agile leadership remains the most important thing.
 

These are hugely difficult times for old businesses, whether they be plane makers like Boeing or car makers like Volkswagen– Is Tesla the new Volkswagen?
 

Well, one has to admire Elon Musk and, of course, he has had first-mover advantage in Tesla cars. And it is extraordinary what he's achieved. But I think actually the second and third movers will ultimately steal the show.

I think that whether as Volkswagen, whether it's Fiat Chrysler, whether it's Mercedes, they will all produce really sophisticated and effective electric vehicles, autonomous driving vehicles.

Elon has led the way. But I think this is only the first chapter in a multi-chapter book. But let's not forget that the automotive industry is going to have to spend $85 billion by 2025 just on autonomous driving. And this is something that is a real challenge for any individual auto maker. So, I think we'll see more joint ventures. 

I think we'll see more mergers as people try to cope with the sheer significance of the investment required.
           

Almost half of the world's most sustainable companies are from Europe, according to a list of the top 100 from Corporate Knights, a Canada-based research group. The group considered the merits of 7,300 companies, and placed 49 from Europe in the top tier, down from 53 in last year's list.