Events at Davos have concluded with a press conference with William Adams, known to millions as will.i.am.

The singer, song-writer, producer and philanthropist was discussing his charitable work. He’s been in Davos this week, lobbying business leaders about the importance of training young people.

We’ll have the full story shortly....

The US State Department has confirmed what John Kerry told Davos earlier - that he will be visiting Nigeria, on Sunday.

He’ll be meeting the current leader, Goodluck Jonathan, and his rival -- and former head of state -- Muhammadu Buhari.

The New York Times reported today that the rise of Boko Haram is driving voters to support Buhari:

Boisterous crowds packed the streets for the retired general, while young men climbed lampposts, walls and billboards to glimpse his gaunt face. Others danced on careening motorcycles, brandishing homemade brooms, symbols of his campaign.

With Nigeria’s presidential election only weeks away, Boko Haram’s unchecked rampaging here in the country’s north is helping to propel the 72-year-old general, Muhammadu Buhari, to the forefront......

To Loosen Boko Haram’s Grip, Nigerian Voters Look to Ex-Leader Who Ruled With Iron Hand

Smartphones can also empower women in the developing world, Melinda adds. First because they can be cheaper to run than old plastic phones, and second because if their husband is working in another town he can send money to her electronically.

Is it better to give financial support to women rather than men in the developing world?

Melinda Gates says it is:

Research suggest that for every marginal dollar you give a woman she’s 90% likely to plough it back into her family. So if you empower that woman, you empower everything else.

There are three priorities, giving a woman access to health care, decision-making powers in her household, and economic opportunity.

Education is also crucial. Research shows that, for an educated woman in the developing world, there is 50% more chance that their child survives the early years and it’s twice as likely that she’ll educated her daughter.

There’s then a cringe-worthy moment as the moderator asks whether the Gates’ share their economic resources. Joint cheque book, guys? Bill and Melinda let it go.

Melinda Gates is explaining how progress has been made in vaccine to reduce deaths from diarrhea, pneumonia, etc. A package of vaccines costing $30 can protect a child from a group of diseases, and underpin the local health system.

Rwanda has the biggest drop in childhood mortality in the history of the world, she adds, because of its vaccination programme.

Bill chips in too – explaing how technology is helping too. Vaccines are being shipped in specially designed thermoses so they are kept cool enough until they reach patients.

There’s a couple of events still happening in Davos tonight, including Bill and Melinda Gates discussing Sustainable Development Goals. Here’s a feed:

Fighting inequality is another crucial step, says Kerry. Vital to increase education opportunities for girls around the world, and to address youth unemployment.

We can move from talk to action at the White House summit in February, says Kerry.

And it will be expensive. Just like the Second World War was.

We have spent trillions in Iraq in the decade since we went to war there, Kerry says. And he adds:

Just imagine if we’d saved trillions in a battle we didn’t have to fight for one we have to fight.

Hard truth is that too many people in too many places feel trapped, says John Kerry.

And he sums up how this can lead them to extremism. As one person put it to Kerry’s State Department:

The terrorists oppress us, the police rob us, the government ignores us and the west doesn’t acknowledge us or wants to kill us

Only a long-term, comprehensive approach can stop these extremist groups growing. Military action is only part of the solution.

Kerry explains how groups start by paying young people a little to join them, then brainwash them, then send them our to recruit others.

This fight will not be decided on the battlefield, but in the classrooms, workplaces, places of worship of the world.

Kerry concedes that it is hard to make thrilling films about the merits of parliamentary democracy or effective public services.

But, exciting or not, uncoverned or undergoverned places become a breeding ground for terrorism.

And weak governments, who cannot rule effectively or who are so corrupt that they attract fighters determined to eject them, are another part of the problem.

But it’s about more than the Middle East, Kerry says, citing Yemen and Nigeria as other countries suffering from extremism,

There is nowhere you can leave as an ungoverned state. And there is no place for negotiation.

Eliminating the terrorists who confront us today is only part of the solution to stopping the endless cycle.

Freeing Iraq from its Daesh occupiers are the crucial first step in winning the war against extremism, Kerry says.

He’s running through recent successes - military attacks and clampdown on their finances.

After years of delay, Baghdad recently agreed oil supply deals, and its army is strengthening.

But this success is not irreversible. The momentum has been slowed, but not stopped.

The worst thing we could do to address the rise of Islamic extremism would be to blame all Muslims for these crimes, Kerry says.

We are making strides against extremism, Kerry pledges.

Like those who marcher in Paris, we must act as one.

Kerry tells another awful story, of the Peshawar school massacre where attackers slaughted a class of young children.

In minutes, a scene of peace and education turned into death and destruction, with”small lifeless bodies” littering the ground.

And when their teacher returned, and was challenged by the assassins, she said I am their mother. That was her last words, Kerry says.

There are no rounds of history, religion, politics, economic disadvantage or personal ambition that caa defend the slaughter of children. None.

<Applause from the audience>

We cannot stop violent extremism without understanding what’s driving it, Kerry tells Davos.

We can’t change minds without knowing what’s in them ,

Despite the conflict in the world, I remain optimistic, says Kerry. Then he runs through a terrible list of examples of the state of the world today:

He cites a 14 year old Nigerian girl discovered in a crowded marketplace, with explosives strapped to body - but she refused to pull the tab, saving her life and others.

Another potential suicide bomber, a Syrian boy, showed security guards he had a bomb tied to him but he didn’t want to die. A third escaped from religious extremists, after finding the promises made to him were false.

Those three examples represent the most basic choice - between death and life, between destroying and building.

Kerry also cites Boko Haran videos have shown fighters saying shootings and violence will be their religion.

John Kerry begin by saying he was saddened to hear of the death of Saudi King Abdullah, who died overnight.

He played an important role in the fight against extremism, Kerry says. Will miss his partnership and friendship.

Coming up... US secretary of state John Kerry is due to give a special address to Davos....

Back in the financial world, US stock markets have opened lower. No eurozone QE boost across the Atlantic today.

Poor company results appear to be behind the falls. Fast-food chain McDonald’s said sales in 2014 dropped by 7% and annual profits plunged by 15%.

• Dow Jones: -0.3% at 17,760.52

• S&P 500: -0.1% at 2,060.73

Frances O’Grady, the TUC’s general secretary, is not impressed with George Osborne’s earlier performance at Davos, describing the Chancellor as complacent.

George Osborne’s complacency in Davos about the state of the British economy may come back to haunt him.

His remarks were notable for what he left out, rather than what he said. He failed to address the plain need for investment to shore up the real economy or to create the skilled, well-paid jobs young people in particular need.

And he did not even mention the need to ensure that the rewards of growth are shared more fairly if Britain’s economy is to become sustainable. George Soros may now recognise the need for inclusive growth to tackle inequality. The other George apparently does not.

AM

That was a powerful speech, I enjoyed it, says one delegate as we squeeze our way out of the hall.

Hollande wraps up by repeating his earlier point that business and politicians must work together to fight climate change. And that’s the end. Warm applause, but unfortunately no Q&A session. Summary to follow.

Inequality between countries and within countries is the biggest problem facing the global economy today.

We need investment in infrastructure....Europe must not lag behind. He welcomes Jean-Claude Juncker’s investment plan.

Onto economics, and Hollande makes two indisputable points - growth is too low and unemployment is too high (both particularly in France, of course)

Ukraine, and the Middle East crisis, are weighing on confidence and growth.

Fighting global warming is going to be expensive, Hollande warns, and businesses will have to share the cost.

We need to find €90bn for a Green Fund, that will ensure global temperatures only rise by 2 degrees this decade.

And he’s now calling for a huge investment in Green technologies to create a Green economy.

Businesses need a predictable carbon price if they are to plan ahead, Hollande points out (two years ago, Europe’s carbon pricing scheme hit serious problems)

Speaking directly to the delegates at Davos, Hollande urges these business leaders to help.

I call on the financial system to ensure that the sources of terrorist funding are dried up. That we fight tax evasions and money-laundering. Don’t leave it too late.

And I call on all business to help the most fragile states, in a spirit of solidarity.

France has values that we want to share with the whole world, Hollande says.

To do that, we must fight the illicit flows which are funding terrorism.

Europe must strengthen border controls, to identify terrorists. We need a passenger identity register to protect our future.

Must make sure Internet is not used for hatred and violence, Must invest in cyber defence.

Hollande cites militant Islam, Al-Queda, Boko Haram, as terrorist threats.

Terrorism fuels itself through all kinds of illicit trafficking - drugs, weapons, human beings.

The internet is being used as a weapon by terrorists, he says.

Hollande begins by passing on his own condolences to the Saudi Royal Family.

And then he moves onto the Paris terrorist attacks.

For three days, we faced with dignity a huge challenge. The rest of Europe fully understood what was at stake.

Freedom, liberty, the very foundations of our society were under attack. All countries in the world are vulnerable to terrorism. We must all prepare, because our main duty is to provide clarity and clear mindedness.

And we’re off. Davos founder Klaus Schwab is introducing president Hollande now.

I was incredibly impressed by the exemplary response and solidarity of the French people to the Paris terrorist attacks, Schwab says.

Europe needs a strong and confident France as it looks for a path to growth, and offers opportunities to all. One lesson of Paris attacks is that we must support the weakest and youngest who can otherwise fall into the hands of those who want to cause chaos and harm.

Finally, Schwab reminds us that there is a crucial Climate Change conference in Paris in December.

Coming next..... Francois Hollande’s special address to Davos. The main hall has filled up ready.

It was supposed to start 10 minutes ago, having been rescheduled from this morning after the King of Jordan cancelled his appearance and flew home following the deal of Saudi King Abdullah.

The video of Emma Watson’s appearance at a Davos breakfast event this morning is available.

She was speaking about gender inequality in her capacity as a goodwill ambassador for UN Women. AM

The business blog’s very own Graeme Wearden has emerged from the main conference centre in Davos to capture a snap of this piper.

As the Guardian’s Jill Treanor reported earlier in our Davos diary:

A light shower of snow is falling on Davos at the start of the third day of the annual World Economic Forum, so spare a thought for the piper outside the “chalet” occupied by Aberdeen Asset Management, just along from the Belvedere. Chilly business.

Read the full diary here.

AM

The panel ends with two points on currencies.

Osborne tries to calm fears that UK exporters will suffer from the weaker euro:

While George Soros, the billionaire who knows the currency markets like the back of his limo, says the breaking of the Swiss franc peg against the euro was inevitable.

Indeed, he’d have predicted it if he was still in the money-making game.

Switzerland now faces an uncompetitive currency and a slowing economy.

And that’s the end of the session on Europe’s future (highlights start here)

George Osborne rarely lets a chance for political point-scoring go past.

Asked about the rise of non-mainstream political parties, Osborne says it’s Labour’s fault.

A political system is a reflection of hopes and fears of the people in the country, Labour has not provided an answer to the tough decisions we’ve taken, so people who are unhappy are looking to other parties.

But when it comes to a general election, people move back to mainstream parties who they trust, he added.

Back to George Soros, who urges Europe to give Ukraine more financial support to cope with the violence in its eastern regions.

Europe is not sufficiently aware of the danger posed by a resurgent Russia, he says..... there is an assault on the very foundations of the values that Europe is based on.

Wolfgang Schauble is challenged about a report in the Der Spiegel newspaper that Angela Merkel has looked at a plan for Greece to leave the eurozone.

Schauble tried to sweep it aside:

If I cared about what was in the media I would never get by job done in 48 hours a day.

Pressed on this, he replies: We don’t model any exit.

Have struggling Eurozone countries done enough to persuade German taxpayers to show solidarity?

Spanish finance minister Luis de Guindos says that Europe has loaned €210bn to Greece, including €26bn from Spain.

Our exposure to Greece is €26bn. As much as our bill on unemployment benefits.

Solidarity between European countries is there.

Schauble hits back at George Soros, saying that HE knows more about the German budgets than the billionaire philanthropist.

Germany is committed to meeting European rules on budgets, he says, so it is running a budget surplus. Other countries aren’t taking these rules seriously.

Back to George Soros, who makes a plea to Europe to use its credit in the markets to fund a large infrastructure project.

At current low borrowing costs, you could create employment, grow economies, and the value of the euro would appreciate.

Germany would benefit too, he says, citing a new port which has potholes in the road leading up to it.

Nice quote from Spanish finance minister, Luis de Guindos.

Deflation is like cholesterol, he tells Davos. There’s a good type and a bad type. We currently have the good sort in Spain, as falling prices are giving households more spending power.

A quick show of hands shows a massive majority for Britain staying in the EU rather than leaving.

George Osborne appeared to abstain, though -- repeating that he wants the UK to stay in Europe once its relationship with the EU is reformed.

Osborne also welcomes the new eurozone quantitative easing programme, but adds that it’s not enough - need structural reforms are needed too.

Was it more important to preserve ECB independence than to listen to German concerns over QE?

Wolfgang Schauble says he never comments on ECB policy.... but the German finance minister does flag up that there is a risk of moral hazard.

He ducks a question on whether Germany will be covering the debts of other nations now.

What about the negative reaction in the German papers?

I have read it, yes, Schauble replies. But I will not play your game (by commenting on it).

Governor Visco is discussing the ECB’s new QE programme. He says it was important to have a consensus decision.

The size, composition, and timing are all crucial for QE.

He also says he’s confortable that 80% of the burden will fall on national central banks

Heads-up: the Davos debate on Recharging Europe, including George Osborne, Wolfgang Schauble, Luis de Guindos -- three of Europe’s most powerful finance ministers - is starting now.

George Soros is also on the panel, along with Italian central bank governor Ignazio Visco.

Live feed here:

Ignazio Visco, the governor of Italy’s central bank, has been discussing the European Central Bank’s €1.1tn QE injection into the eurozone economy.

Speaking in Davos, he suggested the €60bn a month bond-buying programme might continue beyond the provisional end date of the end of September 2016, should inflation fail to pick-up sufficiently.

The eurozone slipped into deflation in December, when prices fell by 0.2%. The ECB’s official target is for an inflation rate that is close to, but below, 2%.

Speaking to Bloomberg Television earlier, Visco said:

We are open-ended. That is, if we see that there are difficulties in achieving this target that we have, we have to continue.

He added that the element of risk-sharing involved in the programme was something eurozone members could build on.

We are a union, we have to trust each other and we have to build trust. But we are not a fiscal union. We have to build on this, it is a good starting point.

AM

The Bank of Japan governor, Haruhiko Kuroda, is not worried that diverging paths taken by central banks in the US and Europe will hamper his efforts to fight deflation at home.

In an interview with Bloomberg TV at Davos, Kuroda welcomed the ECB’s decision on Thursday to launch a €1.1trn bond-buying programme.

I don’t think it makes our job more difficult.

He said the euro had not fallen very much against the yen in the wake of the ECB move, and noted that the euro had already weakened previously.

The US Federal Reserve is expected to lift interest rates this year after ending quantitative easing last October. Kuroda said this expected “normalisation” of policy reflects strong US growth, which is good for the world economy.

Back in Davos, economist Nouriel Roubini has been warning developing countries to press on with economic reforms before financial turbulence increases:

Yesterday, Christine Lagarde predicted volatility and spillover effects once the US starts to raise interest rates. That would probably pull some money out of the emerging markets.

In the UK, retail sales volumes grew by 0.4% last month from November, official figures showed. It was the weakest December performance for two years, but confounded fears of a 0.6% fall, with the Black Friday shopping bonanza bringing forward many pre-Christmas purchases into November.

The data was skewed by the fact that the US-inspired discount day was included in November’s figures for 2014, but within December’s data the year before.

Sales in the three months to December jumped 5% on a year earlier, the best performance in a decade. December was fuelled by supermarket sales and motorists taking advantage of cheaper petrol to fill up their tanks.

The European Union will discuss increasing emergency funding for Ukraine next week according to Reuters.

Aid could be increased to as much as €2.5bn, more than the €1.8bn already proposed by the European Commission, unnamed diplomats told Reuters.

EU finance ministers will consider proposals at their meeting in Brussels on Tuesday. The loans would be for this year and next, in three or more tranches.

The King of Jordan has cancelled his appearance at Davos today, following the death of Saudi King Abdullah.

Other Arab delegates also left Davos prematurely, ahead of the funeral of the Saudi king.

This means French president Francois Hollande will now speak at 2.15pm CET, not 11.30am as earlier planned.

US economist Bob Shiller, an expert on inequality, argues that the power of ‘civil society’ can keep the wealthiest in check, to a degree.

Winnie Byanyima is right about unequal power, he says, but the rich can be shamed out of pursuing it too much.

I think we should be happy that inequality is not worse, but Oxfam is going a good job in focusing attention on this problem.

Lagarde reiterates that excessive inequality is bad for growth, and also points out that the wealthy have benefitted from the rise in asset prices since the financial crisis.

(that’s because of the stimulus packages run by central banks since Lehman Brothers)

Mark Carney, Bank of England governor, is making some important points about the causes of inequality.

1) Technological changes are driving down pay in some sectors

2) In a fully interconnected world, someone with very valuable skills can be very well rewarded.

Steve Jobs brilliance is applied globally, not locally.

Carney adds that the key challenge is to give equality of opportunity.

Some instant reaction to this inequality debate:

Sir Martin Sorrell defends wealth creators, such as himself.

He tells Davos that he founded a company with 2 people, and now employs 179,000 people in 111 countries and invests $12bn in human capital each year.

I make no apology for that whatsoever.

Sorrell adds that the improvements in fighting extreme inequality and fatal diseases in recent decades doesn’t get enough credit.

And he reminds Lagarde that there isn’t proof that equality drives growth.

Byanyima hits back - a year ago, we found that 85 people own as much wealth as the bottom 50%. It’s now down to 80 people. The situation is getting worse.

That’s not the best way to measure inequality, the BBC’s Evan Davies suggests, given just how poor the poorest are.

The BBC then play two clips of wealthy men defending the rich, including British businessman Luke Johnson - who argues that our economy will suffer if we demonise wealth-creators as fat cats and plutocrats.

Bank of England governor Mark Carney goes next, explaining how financial innovation - some good, some not so good - in the run-up to the crisis has allowed the system to lose its focus on social capital.

He dubs it a “let them eat credit” approach - which allowed consumption to increase even as incomes didn’t.

If you’re on twitter, you can use the hashtag #bbcworlddebate to contribute to this inequality debate.

It’s starting now, with video clips of citizens around the world giving their views on inequality, unemployment, and social exclusion.

Irony alert. Some Davos attendees will be listening to the perils of inequality just hours after bobbing along at a terribly exclusive Google party

(for the record, Team Guardian spent last diligently filing copy, tracking Prince Andrew’s Davos reception, before discussing economic issues over a late supper #hardcore )