Those at Davos, seemingly representing the interests of the very wealthy, like to think they are working to make the world a better place - as long as they are not inconvenienced in doing so.

Combined wealth of world's richest 1 per cent will overtake that of remaining 99 per cent by 2016 unless action taken to curb "shocking extremes" of inequality.

Finance Minister Bill English says he wants Google, Apple and Starbucks and other multinationals to pay more tax and hopes the issue will be raised at economic talks this week.

Disappointing data on American home sales overnight spoiled the party on Wall Street.

New Zealand has slipped to 25th most competitive economy in the world, while China has edged up to 26th.

Nearly 80 per cent of NZ executives have changed their approach to risk-taking after the global financial crisis.