Business daily

The United States has ambled into another government shutdown as Republicans and Democrats in Congress failed to pass a funding bill in time for the new fiscal year. It comes as the US economy is in a precarious state, with inflation rising and the job market weakening. Also in this segment: France is bracing for another day of nationwide strikes and protests as new Prime Minister Sébastian Lecornu tries to draft a budget. The rallying cry for unions is "Tax the Rich".   

The US federal government entered a shutdown at midnight on October 1, leaving as many as 750,000 federal employees furloughed each day. In this edition, we get a sense of how much this shutdown might cost the US economy, and what that would do to the employment picture in the country. Plus, FRANCE 24's Luke Shrago looks back at what happened during the last shutdown, which began in late 2018.

As the US Senate prepared to vote again on a stopgap bill to keep the government funded for a few more weeks, President Donald Trump said a government shutdown was likely and warned Democrats that the administration could take some "irreversible" actions in such a scenario, including cuts to personnel and benefits. Meanwhile, YouTube has agreed to pay Trump $24.5 million to settle a lawsuit over the freezing of his account in the wake of the January 6, 2021 Capitol riot. 

As an October 1 deadline fast approaches for the US Congress to agree on a spending bill to keep the US government running, federal agencies have outlined plans for a potential shutdown. Seen as non-essential, key economic reports on jobs and inflation could be delayed, adding more uncertainty over the state of the US economy. Also in this edition, we look at the record buyout of video game maker Electronic Arts by a group of investors led by the Saudi Public Investment Fund (PIF) and Jared Kushner.

Electronic Arts, the company behind blockbuster video games such as the Sims and Madden NFL, has agreed to transfer ownership to a consortium led by Saudi Arabia's public investment fund PIF, US private equity firm Silver Lake and Jared Kushner's Affinity Partners. The $55 billion deal marks the largest leveraged buyout in history. Meanwhile, China is launching a new visa programme to attract young foreign talent, after Washington shocked the tech world with a new $100,000 fee for its H-1B visa. 

German airline giant Lufthansa says it will axe 4,000 positions by 2030, chasing higher profitability after a steep decline last year. But first: US Democrats try to save healthcare subsidies as a government shutdown looms. Plus, shares in Sony Financial Group jump on their first trading day in Japan.

France's public debt has risen above €3.4 trillion in the second quarter of this year, to 115.6 percent of GDP, new official data shows. It comes as the country's new prime minister, Sebastien Lecornu, is trying to get support from political parties, unions and businesses to draft a budget for 2026, which needs to go before parliament by October 7. Meanwhile, the country's national rail operator SNCF is introducing a new ultra-premium class as it faces increasing international competition. 

The European Bank for Reconstruction and Development (EBRD) released its latest growth projections this Thursday, outlining the challenges facing the economies in which the development bank operates. From the impact of US tariffs, to intensifying Chinese competition on exports by way of Ukraine's wartime economy and the fiscal troubles facing countries in sub-Saharan Africa, we discuss it all with the EBRD's chief economist, Beata Javorcik.

Oil and gas giant TotalEnergies has won a contract to build "Centre Manche 2", a 1.5 GW wind farm off the coast of Normandy.  Planned to go onstream in 2033, the €4.5 billion project will generate electricity for some 6 million households and boost France's overall wind power generation. Plus, with the price of gold hitting record highs, more and more French shoppers are selling their gold jewellery and investing in the precious metal. 

Comedian Jimmy Kimmel returned to US airwaves on Tuesday night following his suspension over comments he made in the wake of Charlie Kirk's assassination. But local US TV station operators Sinclair and Nexstar Media Group have opted to replace his slot with other content, in line with the Trump administration's demands. In this edition, we take a look at the business considerations behind those decisions. Plus, Swiss banking giant UBS settles longstanding tax evasion charges in France. 

Stellantis, the owner of Peugeot, Citroen, Fiat, Chrysler and other brands, has announced plans to pause production at two of its European plants – in Poissy, France and Pomigliano, Italy – citing weak market demand in Europe. Thousands of workers will be furloughed. Plus, the OECD says global economic growth is holding up better than expected for now, but warns that the full impact of higher US tariffs is still unfolding. 

Chipmaking giant Nvidia announced on Monday that it would invest up to $100 billion in OpenAI to develop next-generation AI infrastructure and help secure the industry's future. We take a closer look. Also in this edition: Pakistani officials warn of severe economic fallout from recent flooding. 

France has joined several of its European peers in formally recognising a Palestinian state. At a world summit in New York on Monday, French President Emmanuel Macron called on the world to do everything it could to preserve the possibility of a two-state solution and outlined a framework for a "renewed Palestinian Authority". Nearly two years since it began, the war in Gaza has devastated the livelihoods of Palestinians but also dealt a serious blow to Israel's economy. 

President Donald Trump name-dropped media mogul Rupert Murdoch and his heir Lachlan as key figures involved in efforts to take control of TikTok in the United States. He also mentioned Oracle CEO Larry Ellison and Michael Dell of Dell Technologies as potential stakeholders in a US-specific version of the app. Also, we look at an Estonian defence start-up doing big business amid increased Russian incursions into NATO airspace.

The US Federal Reserve has lowered interest rates by a quarter percentage point, bringing its benchmark rate to a range of 4.00 to 4.25 percent. All but one of the 12 members of the monetary policy committee voted in favor of the decision, with the sole dissent coming from newly appointed governor Stephen Miran, a trusted ally of President Trump. And, Jerry Greenfield, co-founder of Ben & Jerry's, has quit the company, accusing its parent firm, Unilever, of silencing the brand's social activism.

On Wednesday, the US central bank cut its benchmark interest rate by 0.25 percent amid growing concerns about job creation in the country. In this edition, we'll explore the challenging political context behind this decision and examine its potential impact on a US housing market that many find unaffordable. Also in today's show, Meta CEO Mark Zuckerberg unveils new AI-powered smart glasses.

As US President Donald Trump makes his unprecedented second state visit to the United Kingdom, we take a look at the economic stakes at play. While finalising and improving the trade deal reached between the two countries back in May is on the agenda, the visit has so far mostly led to a host of investment pledges from US tech firms like OpenAI, Microsoft and Nvidia. The Labour government of Prime Minister Keir Starmer is hoping these investments will boost the UK's sluggish economic growth.

One year after releasing a far-reaching report on European competitiveness, former ECB chief Mario Draghi has warned the EU is falling further behind its peers and sharply criticised member states for their slow response and complacency. With US President Donald Trump's tariffs biting and the bloc's trade deficit with China widening, Draghi says that every challenge he had pointed out in his report has worsened, with no clear path to financing the necessary investments. 

A US court has ruled that Federal Reserve board governor Lisa Cook can stay in her job in spite of the president's attempts to fire her, meaning she should be able to attend the central bank's September meeting. Meanwhile, Trump appointee Stephen Miran has been confirmed by the Senate to fill a vacant seat on the board. Investors are predicting the Fed will cut interest rates by 0.25 basis points on Wednesday. Also in this edition, we report on how protests in Nepal could threaten the country's vital tourism sector.

The United States and China have reached a framework deal for the ownership of TikTok, following the latest round of trade talks held in Madrid. It's unclear what the final deal will look like, but US Treasury Secretary Scott Bessent says it involves switching the app to US-controlled ownership. The deal is set to be finalised by Presidents Donald Trump and Xi Jinping on Friday. This comes on the same day that China accused US chip giant Nvidia of violating the country's antimonopoly laws. 

France faces a series of credit rating tests, with political chaos raising the risk of a downgrade. Also, US consumer prices rise at annual rate of 2.9 percent in August. Plus, the surge in Oracle's share price adds fuel to the AI boom debate.

Larry Ellison, the 81-year-old co-founder of US business software company Oracle, briefly became the world's richest man on Wednesday after shares in Oracle surged over 40 percent. The company is predicting that its cloud infrastructure business will grow from $10 billion to $144 billion by 2030, thanks to AI-driven demand for its services. Also in this edition: Cuba suffers another island-wide blackout – the fifth in the past year.

Protests gripped France nationwide on Wednesday as the newly appointed prime minister, Sébastien Lecornu, assumed office. Protesters demonstrated their anger at potentially massive spending cuts, as opposition lawmakers defended their counter-proposals to tackle France's debt and deficit. So what's in their plans? Plus, Danish pharma giant Novo Nordisk announces a plan to cut 9,000 jobs as the maker of Wegovy and Ozempic struggles to turn its fortunes around. 

As grassroots "Block Everything" protests take place all across France, we examine the economic conditions that are partly fuelling the discontent. While the country has seen steady wage growth over the past 30 years, job insecurity is on the rise and the poverty rate has hit a new record: 15.4 percent of the population of mainland France. Also in this edition: the immigration raid against a Hyundai plant in Georgia is ringing alarm bells among foreign businesses looking to invest in the US.

French President Emmanuel Macron has picked defence chief Sébastien Lecornu as his new prime minister, a day after François Bayrou was voted out by parliament. The 39-year-old Lecornu's immediate priority will be to try to forge consensus on a new budget, before forming a government. If this year's budget were to be carried over into next year, France's fiscal deficit, already the highest in the EU, is predicted to widen further. 

The collapse of PM François Bayrou's government after losing a confidence vote in the French National Assembly on Monday is casting a long shadow over the country's public finances. The eurozone's second-largest economy's debt pile currently accounts for over 114 percent of its GDP and the lack of a consensus on how to restore public finances will increase that number further. Also in this edition: Norway's Labour Party wins a general election focused on a wealth tax debate.

Europe's largest car show kicks off in Munich, as industry leaders warn the continent's auto sector is facing existential threats. But first: French political turmoil threatens to further drag down the country's stock market as borrowing costs rise.

Giorgio Armani, who has passed away aged 91, directed an empire that generated €2.3 billion in 2024 and never sold any part of his company to an outsider. We take a closer look. Meanwhile, Donald Trump's Fed nominee Stephen Miran is grilled by the Senate Banking Committee as he tries to convince them he intends to preserve the Federal Reserve's independence. Plus, Melania Trump makes a rare public appearance to talk AI with some top industry leaders.

US internet search giant Google was ordered by a US federal jury on Wednesday to pay about $425 million for gathering information from smartphone app use even after people had opted for privacy settings. On the same day, France's government watchdog for data privacy slapped a €325 million fine on the company for failing to adequately secure user consent before setting advertising cookies. Also in this edition: the Trump administration asks the US Supreme Court to rule once and for all on the legality of tariffs.

The European Commission has given final approval to a massive trade deal with South America's Mercosur bloc, and presented the agreement to member states to sign. It brings the long-stalled deal a step closer to ratification, as the revised version has put in place various safeguards to protect European farmers and appease critics like France. We take a closer look.

US Federal Judge Amit Mehta ruled on Tuesday that Google did not have to sell off its signature Chrome internet browser or its Android operating system. This follows a previous ruling that the company had illegally maintained a monopoly on search engines. Investors breathed a sigh of relief, since search accounts for more than half of the tech giant's revenue. Also in this edition: French households are saving at record levels over concerns about political instability.

China has wrapped up a high-profile summit of the Shanghai Coorperation Organization, where President Xi Jinping sought to present a new world order with the Global South leading the way. It also signed a slew of business deals with partners including Russia. Among them is a new agreement on a long-delayed pipeline project that boosts capacity of Russian gas deliveries to China. Also in this bulletin: Nestlé has fired its CEO over a secret love affair. So are office romances a taboo subject? 

Swiss food giant Nestle removes its CEO Laurent Freixe after just a year on the job over a relationship with a direct subordinate. We take a closer look. Also in this edition: India's textile export industry comes apart at the seams as US President Donald Trump's tariffs take effect.

Italy has rejected claims by French Prime Minister François Bayrou that Rome is pursuing a policy of "fiscal dumping" to attract foreign business and investment.  The spat comes as Bayrou faces a likely collapse of his government over an unpopular budget plan, in which he aims to cut 44 billion euros in public spending. Plus, Labubus, and their knock-off cousins Lafufus, are taking Europe by storm. 

A rush for mineral wealth in eastern Germany has left residents fearful for their health and the environment. Also in this edition: China seeks to create an economic centre of gravity to rival the US, and France's embattled prime minister rejects a proposal to tax the country's richest families 2 percent of their wealth to plug a budget hole.

US AI chipmaker Nvidia, the world's most valuable company, posted record $46 billion sales in the latest quarter, showing strong demand from clients like OpenAI, Microsoft, Amazon, Alphabet and Meta. However, the company's lack of shipments of chips to China is clouding the horizon. In this edition, we explain the geopolitics affecting Nvidia's business. Plus, FRANCE 24's Yuka Royer speaks to France's Minister for Foreign Trade Laurent Saint-Martin about the country's dire public finances.

The United States' 50% tariff on Indian goods came into effect this Wednesday, making India the target of President Donald Trump's largest import duties in Asia. Half of these levies have been imposed because of India's purchases of Russian crude oil, which have surged since the start of the war in Ukraine. In this edition, we see what impact the move could have on the Indian economy and how the government of Prime Minister Narendra Modi has responded to the worsening ties with the White House.

Treasury yields climb and the dollar falls as investors grow increasingly concerned about the US Federal Reserve's independence. Also in this edition: French Prime Minister François Bayrou's decision to call a confidence vote in his government sends markets into a tailspin. Plus, the UN postal agency says that 25 countries have decided to suspend package deliveries to the US. 

In an unprecedented move, US President Donald Trump announced on Monday that he'd fired Federal Reserve Governor Lisa Cook over allegations of mortgage fraud. The Biden appointee denied that Trump had the authority to do so and vowed not to step down. This is the latest chapter in Trump's sustained attacks against the US central bank. Also in this edition: Elon Musk sues Apple and OpenAI for anti-competitive behaviour in the AI field.

French Prime Minister François Bayrou has warned that the nation is facing an "immediate danger" of over-indebtedness as he tried to rally support for his unpopular budget plan for 2026. Labour unions have threatened to bring France to a standstill with a general strike called for September 10. Plus, US President Donald Trump boasts that his government has paid "zero" for a 10 percent stake in embattled chipmaker Intel. 

China's former real estate giant Evergrande has seen its shares delisted from the Hong Kong stock exchange this Monday. Once the most valuable property company in the country, the firm fell on hard times when the government cracked down on its debt-fuelled development model in 2020. Also in this edition: one Chinese copper company has managed to fly under the radar of Trump's tariffs by building plants in the US, making it an interesting test case in the US-China trade war.

In a bid to extract concessions from New Delhi in months-long trade talks, Donald Trump announced that he will impose 25 percent tariffs on Indian exports to the US starting August 1. He also threatened to penalise India for its purchases of Russian oil. In this segment, we explain what the US hopes to achieve with this move – and why India isn't rushing to strike a deal. Meanwhile, the US and South Korea have reached an agreement to lower US tariffs to 15 percent.