Davos 2020: Greta Thunberg blasts climate inaction; Lagarde fears Brexit cliff edge - live updates

Climate activists protest at the World Economic Forum, as Lagarde, Georgieva and Mnuchin discuss the economic outlook

• Latest: Lagarde warns about Brexit risks in 2020
• IMF chief says growth still sluggish
• Thunberg: Davos has completely ignored our demands...
• ..but Trump and Mnuchin's criticism is no problem
• Activists pile pressure on Siemens CEO

4.37pm GMT

Instead of a summary, treat yourselves to Larry Elliott's roundup of what we learned at Davos, including a rather sweet anecdote about Sajid Javid at WEF.

Related: What did we learn from Davos 2020?

3.50pm GMT

Here's our news story on the clash between Christine Lagarde and Steven Mnuchin at the final WEF session:

Related: US and Europe clash over climate crisis threat on last Davos day

2.07pm GMT

WEF is over! We're clearing out of Davos -- I'll try to post a round-up, or more news, if I can....

2.05pm GMT

There are some small signs of progress at least - even if things aren't moving as fast as needed.

"I don't know how they evaluate what we say, hopefully they listen, but generally I do think they dismiss us because of our age."

"We need the focus to be on the science."

Related: Frequency of intense floods and storms could double in 13 years, says study

1.27pm GMT

Here are the five climate activists who spoke to reporters in Davos today about the climate emergency.

From left to right, we have Vanessa Nakate, Luisa Neubauer, Greta Thunberg, Isabelle Axelsson and Loukina Tille:

12.31pm GMT

Elsewhere in Davos, former US vice-president Al Gore has hit out at "cheap, destructive, extractive, exploitive business models".

In a discussion about tackling plastic waste, Gore says that some firms as using "destructive practices that take advantage of the global commons"....

"The price paid for a plastic bag or a plastic bottle does not reflect the true cost to society."@AlGore explains why he thinks the "economic system" is broken #WEF20 #Davos pic.twitter.com/L7bdwMcEm5

12.07pm GMT

Here's a clip of Greta Thunberg criticising world and business leaders for their lack of action.... although she expected nothing less.

11.57am GMT

And here's a video clip of today's climate activists marching through Davos:

This is the Davos climate strike currently under way - @GretaThunberg here now. pic.twitter.com/pn5KRgmVuD

11.54am GMT

The "Fridays For Future" protests are now taking place outside the World Economic Forum in Davos.

11.45am GMT

Reminder - if you missed the press conference with Greta Thunberg and fellow activists today you can watch a recording at the top of this blog.

11.42am GMT

IMF chief Kristalina Georgieva cautions that the measures needed to tackle the climate emergency means that some industries will be less profitable in the future.

Christine Lagarde says the key to mobilising action is to remember the old advertising maxim:

There are three things that make people move -- sex, fear and greed.

.@stevenmnuchin1 & @Lagarde argue a bit, w/Steven saying we overestimate the costs of climate change & a carbon tax hurts "hardworking people." #WEF2020 pic.twitter.com/TMvh2EVt9u

11.29am GMT

The panel moves onto climate... and Steve Mnuchin says it is only one of several important issues.

He cites health (topical, given the coronavirus crisis) and the Middle East -- Iran can't be allowed to get a nuclear weapon, he insists.

There's way too many people in the developing world who do not have access to electricity.

As much as we want to talk about the environmental issues ...we need to work very hard to create an environment for these people where they have better lives.

11.21am GMT

Germany's finance minister, Olaf Scholz, tells Davos that his country won't take an economic hit from Brexit.

It will be harder for the UK, though, Scholz warns -- warning that the City of London will be less important after Brexit.

11.11am GMT

On trade, Steve Mnuchin says the UK will be at the top of the list for a free trade deal, after Brexit.

Asked about the United States' trade deal plan this year, the Treasury Secretary:

We've already started the conversions with the EU. We look forward to making progress with them.

On the UK, the president has been clear going back to the election that the UK is our number one ally and will be at the top of the list of trade agreements.

10.58am GMT

ECB chief Christine Lagarde fears that Europe faces a Brexit "cliff edge" at the end of this year.

She tells Davos that there some positive signs surrounding the global economy - with employment very low, and trade tensions easing.

Brexit is a little bit less uncertain, but we still have that possible cliff edge in December of 2020.

We don't' know exactly what the trade relationship will be.

NEW: Dutch PM @markrutte tells @skynews that despite Boris Johnson's pledge that Britain will get a trade deal with the EU this year, the chances are still 50-50. And he warns of yet another Brexit cliff-edge. Video: pic.twitter.com/BLQRrguicj

10.50am GMT

US Treasury secretary Steven Mnuchin, who took that nasty potshot at Thunberg yesterday, has told Davos that US government spending needs to be reined in.

We look at a very robust economic outcome through 2020, Mnuchin predicted.

10.41am GMT

Back in the Davos congress hall, IMF chief Kristalina Georgieva is talking about the global economy.

She has a positive-ish message, saying:

10.33am GMT

Greta Thunberg, and her fellow activists are now going to march down the icy pavements of Davos, to conduct their regular School Strike for the climate emergency.

That will allow them to lobby Davos delegates as they leave WEF and head for the railway station (although the global elite typically travel by chauffeur-driven cars).

Final climate change protest taking place in central Davos before the end of the #wef2020. @GretaThunberg is due to attend. pic.twitter.com/LKzMkU94jK

10.10am GMT

Luisa Neubauer says there is "less climate denial, but more climate action denial." (hardly progress!)

There is no point waiting for the crisis to come up before acting - the crisis is here now.

We had a very good discussion here at Davos, so the dialogue is still going on.

Some, or all, of those projects need to be cancelled if we are to achieve the Paris Agreement goals.

This is not a radical demand, this is a rational demand.

10.03am GMT

Vanessa Nakate says she believes the leaders at Davos have heard the message from climate activists - but they're choosing to ignore it.

Nakate also explains how social media has helped the climate activist movement -- by letting her get her message out across Uganda.

9.56am GMT

Climate activists will continue to lobby Siemens over its involvement in the Adani coalmine in Australia, says Luisa Neubauer.

Neubauer says activists have met with Siemens CEO Joe Kaiser, and explained why the mine will threaten any hopes of keeping global warming below 1.5 degrees.

Related: Adani coalmine: Siemens CEO has 'empathy' for environment but refuses to quit contract

9.49am GMT

Q: How do you move the Davos community on, to a low-carbon future?

Isabelle Axelsson says it shouldn't be up to the climate activists to find the solutions.

9.46am GMT

Q: The climate emergency isn't a big issue to India - what's your message to them, Greta?

My message to India is the same as to every other country, she replies.

We need to listen to the science, and we need to treat this crisis as the crisis it is.

9.45am GMT

Q: How did it feel to be publicly insulted by the US president, and the US treasury secretary yesterday?

Greta Thunberg replies that it had "of course, no effect".

We are being criticised like that all the time. If we cared about that, we wouldn't be able to do what we do.

9.43am GMT

Greta Thunberg has said that the World Economic Forum has completely ignored the climate movement's demands (on fossil fuel divestment) this week.

As long as we do not treat this crisis as a crisis, and as long as the facts are ignored, we will not solve this crisis,Thunberg says.

Our demands have been completely ignored, and we expected nothing less.

9.43am GMT

Back in Davos, activist Isabelle Axelsson from Sweden is speaking about the climate emergency.

9.35am GMT

Some instant reaction to the PMIs:

Good News! The UK Composite PMI shows that the UK economy returned to growth in January #GDP https://t.co/8UUYT0jDSF

Flash January #UK #services & #manufacturing #PMI indicates marked return to growth. Overall output index up to 16-month high of 52.4 (49.3 in Dec). Services PMI at 16-month high of 52.9 (50.0). Manufacturing contraction marginal as PMI up to 9-month high of 49.8 (47.5)

9.32am GMT

Newsflash: The UK economy has returned to growth this month.

That's a sign that confidence is rising following December's election, making an interest rate cut next week less likely.

UK Markit Services PMI Jan P 52.9 (est 51.1; prev 50.0)
-UK Markit Manufacturing PMI Jan P 49.8 (est 48.8; prev 47.5)
-UK Markit Composite PMI Jan P 52.4 (est 50.7; prev 49.3)

UK January flash manufacturing PMI 49.8 vs 48.8 expected https://t.co/pPVy3XUhRK

9.25am GMT

Meanwhile in the markets, excitement is building ahead of the UK Purchasing Managers' survey of the British economy this month....

Roll up, roll up, it's the biggest #UK #PMI reading for yonks: It seems the world is waiting for this one as a final chance to price in w... https://t.co/Cz4i3lBSZN

9.22am GMT

Greta Thunberg is giving a press conference shortly in Davos, along with fellow youth climate activists from the Fridays For Future campaign.

She's joined by Vanessa Nakate from Uganda, Loukina Tille from Switzerland, Luisa Neubauer from Germany and Isabelle Axelsson from Sweden.

9.14am GMT

The head of the European Central Bank, Christine Lagarde, has a word of warning for the markets this morning:

She's told Bloomberg that investors shouldn't assume that current monetary policy is locked in for the foreseeable future just because officials are focused on reviewing their strategy:

"To those who think it's on autopilot, that's ridiculous.... Let's look at the facts. Let's look at how the economy evolves"

8.29am GMT

Good morning from Davos, where the final day of the World Economic Forum is getting underway.

The annual shindig of the global elite, and some of their sternest critics, is wrapping up at lunchtime today.

Related: Greta Thunberg clashes with US treasury secretary in Davos

Today's data will give a first indication about the health of the British economy having found a certain political stability amid Johnson's solid victory in December and a way to move out of the European Union avoiding the much-feared no-deal scenario.

A strong PMI read could tune down the rate cut expectations that spiked from nearly zero to 60% for the Bank of England's January meeting. Any disappointment, on the other hand, should further revive the BoE doves and pave the way for the pound to slide below $1.30 before next week's monetary policy meeting.