Global business news, with live guests and contributions from Asia and the USA.
Airports in the capital of France have been told to cancel some flights due to four days of strikes. We hear from French journalist Anne-Elizabeth Moutet and the Head of Aviation at the European Transport Workers' Federation Eoin Coates. We talk to Columbia University professor Carey Leahy about the financial markets' recovery after one of the worst days Wall Street has had in decades, and the record inflation figures in the Eurozone. Disney, Facebook's parent Meta, American Express and Goldman Sachs are among the latest in a growing list of companies that say they will cover expenses for employees who travel out of state to access abortion care. But what happens to those who work for smaller employers who can't or won't provide extended health care? Marketplace's Meghan McCarty Carino has more on who the system leaves behind. Only a tiny handful of women have ever attempted to enter Formula 1. But now one team is trying to change that: Alpine. Formerly Renault F1, it has launched a bid to get more women into the sport. We talk to their head of HR Claire Mesnier. The Sky Cruise is a huge aeroplane with thousands of rooms, parks and a pool powered by its own nuclear reactor. But it only exists in a video animation made by Yemeni science communicator and video producer Hashem Al-Ghail... for now. He told us why he thinks his design can soon become a real vacation cruiser. Vivienne Nunis is joined throughout the programme by Karen Percy, a senior freelance reporter in Australia, and Jasper Kim, a professor at Ewha University in South Korea, to discuss this and more relevant business news from around the world.
China celebrates the 25th anniversary of the British handover of Hong Kong. But critics regret loss of liberties during Beijing's rule despite commitments to the 'one country, two systems' policy. We hear from Hong Kong's former Chief Executive, C.Y Leung, the BBC's Martin Yip, and former Chinese diplomat Victor Gao. We also talk to local business owners in Hong Kong about the growing challenges they face since the introduction of the national security law. We hear about the grim day global markets have had as FHN Financial's analyst Chris Low explains what is on investors' minds these days. Vivienne Nunis is joined throughout the programme by Marketplace's senior reporter Andy Uhler, in Texas, and writer Rachel Cartland, who served in the Hong Kong government until 2006. (Picture: Preparations ahead of the 25th anniversary of the establishment of the Hong Kong Special Administrative Region. Picture credit: EPA)
As markets tumble, users are left unable to withdraw from some exchanges, and a leading hedge fund prepares to enter liquidation. Is crypto in terminal decline? Scott Chipolina, correspondent for the Financial Times, says investors are well used to challenging conditions. Sri Lanka is among the countries to be worst hit by inflation, and living standards are falling. Joseph Stalin of the Ceylon Teachers' Union, and Steve Hanke from Johns Hopkins University, tell us why a solution may be some way off. It's a host's worst nightmare: an out-of-control party in your Airbnb. As the platform cracks down on gatherings, we hear the story of a rental gone wrong in the Bahamas. Also on the programme, a boss at H&M explains why leaving Russia was a tough decision; and it's happy 15th birthday to Apple's iPhone. We're joined throughout Business Matters by financial consultant Jessica Khine in Malaysia, and economist Tony Nash in Texas. (Picture: a crypto trader checks his wins and losses. Credit: Getty Images)
An abandoned truck containing dead migrants has sparked horror in North America. The US-Mexico border is among the busiest, and most dangerous, in the world. Two journalists on either side of the fence - Allysa Tellez in San Antonio, and Lillian Perlmutter in Mexico City - look at the factors driving smuggling, violence and death. Some of the world's wealthiest nations have pledged further support for Ukraine, but China wasn't at the negotiating table. Independent economist Andy Xie provides a view from Singapore. Back in the US, and companies are now offering an unusual employee benefit - help to end a pregnancy. Disney and Meta are among them. We hear from the boss of NY tech firm Alloy, Laura Spiekerman, about why the package has been touted for staff. Like in many countries, the rising cost of fuel is causing unrest in Peru. A former minister, Alfonso Segura, tells us the protests are likely to continue into a third week. Elvis may have left the building, but he's still bringing home the bacon. 45 years on from his demise, the Presley brand is growing in popularity again. Our guests this evening - Maggie McGrath from Forbes in New York, and Smart Investor co-founder David Kuo in Singapore - talk about the King of Pop's continued appeal, as well as all the other issues of the day. (Picture: The scene of the tragedy in San Antonio, Texas. Credit: Jordan Vonderhaar/Getty Images.)
A decision to remove constitutional abortion rights has deepened divisions in the US. Pro-life leaders have welcomed the Supreme Court's decision and a number of states are already changing their laws. Critics say it will be detrimental to women's health, and to the wider American economy. Rachel Fey from the pro-choice group Power To Decide tells us why. We're also joined throughout the programme by Rhona Vonshay Sharpe, the CEO of the US-based Women's Institute for Science, Equity and Race (WISER); as well as Peter Ryan, Senior Business Correspondent at ABC News in Sydney. After a deadly earthquake rocked Afghanistan, Europe has pledged financial support. A former minister, Gul Sabit, explains what is needed in the longer term. Meanwhile, in Europe, leaders are meeting ahead of the next G7 summit in Germany to discuss food security. Sophia Murphy from the Institute for Agriculture and Trade Policy is following the developments. Rafael Bostic, head of Atlanta's Federal Reserve Bank, has been speaking to Kai Ryssdal from our partner programme Marketplace. (Picture: Pro-choice demonstrators take a stand in Manhattan's Union Square. Credit: Spencer Platt/Getty Images).
The Taliban in Afghanistan have appealed for international support, as the country deals with the aftermath of a devastating earthquake which claimed the lives of over 1,000 people leaving another 1,500 injured, according to local officials. In Sri Lanka, the prime minister - Ranil Wickremesinghe says its troubled economy has collapsed and the country is unable to even pay for oil imports. Mr Wickremesinghe also said he is trying to put together a conference of donors, which would potentially include China and Japan. A hospital in South Africa's Cape Town is proving to be a hotbed of innovation with robots now becoming a regular part of surgery. And how modern genetics is helping African Americans piece together their stolen stories. (Aid agencies in neighbouring Pakistan are assisting with humanitarian effort. Credit: BBC)
Russia has warned Lithuania of 'serious' consequences after it banned the transport of certain goods to the neighbouring Russian territory of Kaliningrad. Lithuania says it is only following the EU sanctions imposed over Moscow's invasion of Ukraine. We speak to Rasa Ščiukinaitė, Lithuania Director of the British Chamber of Commerce in Vilnius. Elsewhere, a British subsidiary of the mining company Glencore has pleaded guilty in a UK court to corruption offences. We hear from Alexandra Gilles, an advisor at the Natural Resource Governance Institute in the US and author of 'Crude Intentions: How Oil Corruption Contaminates the World'. Ed Butler is joined by the freelance writer and former senior editor at Hindustan Times, Madhavan Narayanan, and Senior Fellow at the Manhattan Institute think tank, Alison Schrager. (Image:High Angle View Of Freight Train On Railroad Track in Kaunas, Lithuania. Credit: Getty Images)
Ukrainian President Volodymyr Zelensky has called Africa "a hostage" of Russia's war, during an address to the African Union. Speaking via video link, he said Russia is trying to exploit African leaders and their people by blocking the export of Ukrainian grain from its ports. In Zimbabwe, hundreds of public sector health workers and teachers have gone on strike with organisers saying they can't afford to feed their families. We hear from the Christine Kayumba, who's Vice President of the Amalgamated Rural Teachers Union. Elsewhere, Canada has outlined plans to ban single-use plastics. The ban on the manufacture and import of several popular items will begin from December 2022. Ed Butler is joined by Bloomberg reporter James Mayger in Tokyo, as well as CBC tech and business journalist Takara Small, to discuss all these stories and the other big business news of the day.
Vivienne Nunis is joined by journalist and co-founder of the digital news startup,The Current PK, Mehmal Sarfraz in Pakistan, and Professor of Culture at Yorksville University, Ralph Silva, from Canada. We hear from Peter Allegeier the former US Ambassador to the World Trade Organisation and President of Nauset Global LLC, about the deal on banning fishing subsidies and President Putin's reaction to the sanctions imposed on Russia. A BBC survey of more than 4 thousand adults in the UK shows people are cutting back on food and car journeys to save money. Nancy Marshall-Genzer of our US partner programme, Marketplace, has been investigating how American Gen Zs are coping with the economic instability. The song ‘Running Up That Hill' by Kate Bush has reached number one in the UK, 37 years after it was first released. Entertainment commentator Gita Amar joins us from Los Angeles. Colombians go to the polls on Sunday in an election that commentators say will change the direction of the country - no matter who wins. Sergio Guzman, director of Colombia Risk Analysis, and businessman Hernando Barreto give their views. Researchers in the United States and South Korea have come up with a novel way to tackle the growing issue of counterfeit medicines and whisky – an edible QR code. Dr Young Kim is the study's principal researcher, he provides some insight into exactly how it works – and why it is needed. (PICTURE: Fishing bait is unloaded at Bridlington Harbour fishing port in Yorkshire on December 8th 2020. PICTURE CREDIT: Danny Lawson/PA Wire.)
Vivienne Nunis is joined by contributing editor at NPR, Paddy Hirsch, from Los Angeles and Bloomberg reporter, Rebecca Choong-Wilkins, in Hong Kong. The value of bitcoin has fallen about 30% in the last 10 days. We hear from one of the youngest Bitcoin millionaires, Erik Finman, about how he got involved in the cryptocurrency aged twelve. The cosmetics company, Revlon, has filed for bankruptcy protection as it struggles against massive debts and stiff competition. Lauren Thomas from CNBC tells us why such a big brand failed to survive in a pressured economic climate. President Biden has said a recession in the United States is not inevitable and sees a reason for optimism, noting the low employment rate in the US. We hear from Correspondent for the Wall Street Journal, Silvina Frydlewsky, in Buenos Aires. Leaders of Germany, France, Italy and Romania have said they support Ukraine's bid to join the European Union. Deputy Director at the Bruegel economic think tank, Maria Demertzis, tells us what the likelihood is of a union with Ukraine. Picture: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken November 19, 2020. Picture Credit: REUTERS/Dado Ruvic
Vivienne Nunis is joined by Chief Executive Officer at Risk Cooperative Andres Franzetti and Member of the World Economic Forum's Expert Network, Yoko Ishikura. The Federal Reserve said it would increase its key interest rate by three quarters of a percentage point to a range of 1.5% to 1.75%. We're joined by two business owners in Georgia and California to get their reaction to the announcement. We find out what it means for the global economy. Yoko Ishikura talks about the impact on Japan's economy. Vintage kimonos - once passed down through generations – are finding a new home at second-hand markets – Yoko tells us more. Vladimir Putin and his Chinese counterpart, Xi Jinping, have agreed to deepen their strategic cooperation, in what's reported to be their second phone conversation since Russia's invasion of Ukraine. Chief Executive Officer at Risk Cooperative Andres Franzetti shares his thoughts on how Washington might view this. And, after 27 years, Microsoft is retiring Internet Explorer for good. (Picture: Flags fly above the Federal Reserve building in Washington, DC, U.S., August 22, 2018. Picture Credit: REUTERS/Chris Wattie/File Photo)
We're talking all about the different crises gripping global energy markets in this programme. First, an incident at an LNG facility in Texas has caused uncertainty over global supplies, with futures prices plummeting. It could be months before the plant is back online. Europe - which is already dealing with reduced supplies from Russia - now faces a shortage. In Sri Lanka, the fuel crisis continues, as people are asked to work a four day week. With the whole world seemingly facing supply disruption, President Joe Biden has announced he'll visit Saudi Arabia. We'll also visit Denmark and Tanzania, where innovative solutions are being found to keep energy flowing. To discuss these issues, Sam Fenwick is joined by Marketplace's Andy Uhler in Texas, and Sharon Brettkelly from the Detail podcast on Radio New Zealand. We'll also hear from the Sri Lankan political writer Asanga Abeyagoonasekera. Elsewhere in the programme, further fears about a decaying tanker in the Red Sea off Yemen. The UN's David Gressly tells us why it matters. Sticking with supply issues, women's sanitary products are getting harder to access in the US. We'll hear about that from Dana Cohen from California manufacturer Cora. (Picture: a gas terminal burns in Poland; Credit: Getty Images).
There are warnings people could starve across the globe due to food shortages caused by the war in Ukraine. The World Trade Organisation is seeking solutions to the crisis - we'll hear from UNICEF's Rania Dagesh along with University of Maryland economist Peter Morici, and Sushma Ramachandran, a Delhi-based independent journalist. Our live guests will also discuss turbulence in the Asian markets and a potentially lucrative deal in cricket's Indian Premier League. Also on Business Matters, India's biggest sporting league - the IPL - is on the verge of a multi-billion dollar deal over broadcasting rights. We'll hear from sports journalist Saurubh Somani and the self-styled 'image guru' Dilip Cherian about what it will mean. have robots finally overcome their one big challenge - becoming human? Or is it still in the realms of sci-fi fantasy? We speak to Dr Radhika Dirks, the head of US firm Ribo AI, about why Google's latest showpiece may not be a harbinger of the future. (Picture: A Ukrainian serviceman surveys the grain in a field in Donetsk. Credit: Anatolii Stepanov).
The travel industry continues its path to normality with Japan reopening its doors to international travellers after two years and the US dropping Covid-19 test requirements for airline passengers. We hear more from Yukari Sakamoto, who takes tourists on tours of food markets in Tokyo. Inflation in the US rose to 8.6% in May, the highest rate since 1981. Food and energy prices led the rally with double-digit rises, but increases continue to spread throughout the economy. We talk to a consumer and a business owner in different parts of the country about how they are being affected by soaring prices. We hear from former US ambassador Norman Eisen about the congressional committee investigating the attacks on the US Capitol in 2021. It could lead to prosecutions and new laws to strengthen election security. Plus, young people who've made a million before they were 30 explain how they did it as part of our Business Daily series Million By 30. Sam Fenwick is joined along the programme by Maggie McGrath, editor of Forbes Women in New York, and Sinead Mangan, a broadcaster with ABC in Australia. (Picture: A board displaying flight arrivals at an international flights terminal in Tokyo in June. Picture credit: EPA)
The vehicle safety regulator in the United States has upgraded its investigation into Tesla's autopilot feature after more than a dozen of them crashed into parked first-responder vehicles in four years. Our North of America Business Correspondent Michelle Fleury tells us more about the probe. Japan's inflation rate is rising but nowhere near the historic records other countries are registering. However, being used to decades of stable and falling prices, Japanese shoppers are now in shock to see them increase. The BBC's Mariko Oi reports from Tokyo. We also hear from tour guide Dai Miyamoto about the conditions Japan has set for international travellers, who are now welcome again after two years of border restrictions. Countries around the world are trying to move towards more renewable energy like that produced by wind and solar. But storage is a big challenge that still needs to be tackled. The BBC's Hannah Bewley talks to some of the people looking for solutions. Rahul Tandon is joined along the programme by Tony Nash, Chief Economist at Complete Intelligence in Texas, and Jyoti Malhotra, Senior Consulting Editor at The Print in New Delhi, to talk about this and other business news. (Picture: Model Y cars during the opening ceremony of Tesla Gigafactory for electric cars in Gruenheide, Germany, in March. Picture credit: Reuters)
Negotiations in Turkey to lift the Russian blockade on Ukrainian ports and allow millions of tonnes of grain to reach poor countries have reached a stalemate. The war threatens to unleash an unprecedented wave of hunger and destitution around the world, says UN Secretary-General Antonio Guterres. In the Horn of Africa, people in rural areas are on the brink of starvation, as Hassan Khannenje, director of Horn International Institute for Strategic Studies, tells us. The EU has agreed that companies will face mandatory quotas to ensure women have at least 40% of seats on corporate boards. We hear more from Lara Wolters, a Dutch socialist member of the European Parliament, who led negotiations on the change. India has increased interest rates for the second time this year. We discuss this with business journalist Sushma Ramachandran and Paramount Cables Group's Sanjay Aggarawal. A TikTok executive has stepped back after claims that he participated in an aggressive work culture. We hear from Financial Times reporter Cristina Criddle about the allegations. Walmart heir Rob Walton and his family have won the bidding to buy NFL's Denver Broncos. The Walton-Penner family is reported to have made a bid worth 4.65 billion dollars. Sports Business Journal's Ben Fischer explains the details. Sam Fenwick is joined throughout the programme by Takara Small, technology reporter for CBC in Toronto Canada, and Rachel Pupazzoni, national business reporter and presenter at ABC News in Perth in Australia, to talk about the most relevant business news of the day. (Picture: Foreign Ministers of Russia, Sergei Lavrov, and Turkey, Mevlut Cavusoglu. Picture credit: European Pressphoto Agency)
In an exclusive interview, David Malpass, president of the World Bank tell us about the economic challenges facing the world as it recovers from Covid-19 and how the war in Ukraine is hitting developing countries. We also hear from Branson Skinner, from the Or Foundation, on how Ghana is encouraging recycling of used clothes in a difficult environment. We also hear about how Indians are coping with a series of punishing heatwaves and how they plan to hit ambitious climate targets. And, as Australia tackles rising food prices, we talk to the BBC's Shaimaa Khalil, about the curious decision made by KFC Australia to swap out lettuce for cabbage. Joining us throughout is Alaezi Akpuru, a Nigerian fashion business owner and Dante Disparte, Chief Strategy Office at Circle. (Picture: World Bank Group President David Malpass. Picture credit: Samuel Corum/Getty Images)
The British Prime Minister has won a confidence vote, but now faces a sizeable rebellion from over 100 MPs within his party, leading to questions about his future. We'll be unravelling how the news is being received in North America with Hayley Woodin, executive editor of the business magazine Business in Vancouver. As Beijing is starting to re-open after months of lockdown, we'll be speaking to James Bayger, who covers the Chinese economy for Bloomberg, to find out what it could mean for Chinese people. And as Apple makes a number of big changes to it's new operating system, we'll hear from freelance reporter Io Dodds in Silicon Valley on why the tech giant is bringing in a buy now pay later function. (Picture: British Prime Minister Boris Johnson. Picture credit: Aaron Chown - WPA Pool/Getty Images)
Mixed signals are coming from the US labour market. While employment figures grew more than expected in May, the tech sector has started to step on the brakes in fear of a recession. Tesla's CEO Elon Musk has warned that the electric carmaker needs to cut about 10% of its staff, saying he has a "super bad feeling" about the economy. We ask Chris Low, financial analyst at FHN Financial what this means for the economy. It's been 100 days since the start of the war in Ukraine, and African nations among the countries that are suffering the most from food shortages and rising prices. The head of the African Union, Macky Sall, has been in Russia to urge President Vladimir Putin to facilitate the export of Ukrainian cereals. The BBC's correspondent in Nigeria Ishaq Khalid has been following the meeting. Turkey has seen inflation rise to more than 73%, the fastest rate in 24 years. The decreasing value of the Turkish currency, the lira, and an unorthodox economic policy is fuelling price increases, according to experts. We hear more from Erinc Yeldan, a professor of Economics at Kadir Has University in Istanbul. The UK is marking the Platinum Jubilee of Queen Elizabeth II with a four day weekend. We talk from royal fans in the streets of London and guests from other countries in the Commonwealth about the celebrations there. Memorial Day in the US this week marked the end of the official Broadway season. It was the first with in-person shows since the pandemic. We hear a special report from our US partners Marketplace. A lawsuit was lodged at the High Court in London on Friday seeking to recoup millions of pounds lost when a fund managed by the former star stock-picker, Neil Woodford, collapsed. Daniel Kerrigan, one of the lawyers bringing the case, explains why the litigation doesn't target Woodford himself. Vivienne Nunis is joined by David Kuo, co-founder of The Smart Investor in Singapore, and Stephanie Hare, researcher of technology and politics in London.
Oil-producing countries vow to boost output by 50% in July and August to curb rising prices following the European Union's announcement of a major cut in Russian crude imports. We ask Kaushik Deb, a Senior Research Scholar at the Centre on Global Energy Policy at Columbia University, how effective this initiative can be. Leaving a tip can be a contentious issue. In India, the government is meeting with leaders from the restaurant industry to discuss whether or not an additional service charge should be automatically added at the end of a meal. We hear the thoughts of a foodie in Mumbai. A pilot programme in British Columbia, Canada, will decriminalize the possession of small amounts of illicit drugs including cocaine, MDMA and many opioids. The aim is to reduce the record number of overdose deaths, and to stop addicts being marginalised. We hear more from Sheila Malcolmson, British Columbia's Minister of Mental Health. Many banks are closing branches and expecting customers to do the bulk of their key transactions via the Internet. But does that risk leaving more vulnerable citizens behind in many countries? The BBC's Claire Williamson investigates. The licensing company that controls the Elvis Presley name and image is ordering wedding chapel operators in Las Vegas to stop using Elvis in their themed ceremonies. Jason Whaley, the president of the Las Vegas Wedding Chamber of Commerce explains what this means for the city. Ed Butler is joined by Jyoti Malhotra, Editor of National & Strategic Affairs at The Print website in Delhi, and Ralph Silva of the Silva Research Network in Toronto, to discuss these and the other big business stories of the day.
The Chief Operating Officer of Facebook's parent company Meta is stepping down after 14 years with the business. Sheryl Sandberg made the announcement on the social media site. We get reaction to her departure. As Shanghai reopens, we hear from a resident in the megacity. People in the Chinese economic hub have been living under strict coronavirus restrictions for two months. Ed Butler is joined by Andy Xie, an independent economist based in Shanghai, and New York-based political reporter, Erin Delmore, to discuss these and the other big business stories of the day. (Image: Sheryl Sandberg speaks at the Texas Conference For Women 2017 at Austin Convention Center on November 2, 2017 in Austin, Texas. Credit: Getty Images)
The Russian energy giant, Gazprom, is cutting gas supplies to the Netherlands and Denmark over their refusal to pay in roubles. It comes after the EU's decision to block most oil imports from Russia over the continuing conflict in Ukraine. Elsewhere, US President Joe Biden welcomes New Zealand Prime Minister Jacinda Ardern to the White House to discuss the security situation in the Pacific. Ed Butler is joined by Colin Peacock from Radio New Zealand in Wellington and CNBC business journalist and author Lori Ann LaRocco to discuss the key business issues of the day. (Image:RUSSIA-UKRAINE-CONFLICT-ENERGY-GAS-EU. Credit: Getty Images)
The European Union council president, Charles Michel, has confirmed that the EU has agreed to ban more than two thirds of Russian oil imports. The block also agreed on measures targeting Russia's largest bank and three state-owned broadcasters. Elsewhere, Chelsea Football Club is sold for more than $5 billion US dollars to an American investment consortium led by Todd Boehly. Sam Fenwick is joined by University of Maryland economist Peter Morici and entrepreneur and real estate investor Kanwal Malik in Karachi, Pakistan, to discuss the big business stories of the day. (Image: European Council Meet In Brussels For Special Meeting. Credit: Getty Images)
Protests have been held in Texas after another deadly shooting claimed the lives of more than 20 pupils and teachers at an elementary school in Uvalde. Across the state, in Houston, the NRA - America's largest pro-gun group - is holding its annual meeting. Our first guest on the programme, NPR journalist Andy Uhler, joins us from Texas where divisions appear to be widening. We're also joined by author and expert on Hong Kong affairs Rachel Cartland. After years of seemingly unstoppable growth, there's a slowdown in hiring across the board in America's tech industry. One former employee of Google and Twitter, investor Alex Roetter, tells us it's probably not a sign of worse to come. The World Economic Forum has drawn to a close in Davos, with Ukraine high on the agenda. One business owner who's seeking shelter in Kyiv says the conflict has transformed the world. We also hear about the Chinese shopping mall that's bringing the outdoor indoors, as business owners in Beijing gear up to welcome back shoppers. Architect Xiaoguang Liu tells us how it could fit in a post-pandemic China. (Picture: Memorial to the 19 children and 2 teachers killed in a shooting at Robb Elementary School, Uvalde, Texas; Credit: Michael M Santiago)
The US Secretary of State Antony Blinken has outlined America's strategy to counter what he says is China's threat to the international order. In a major speech, he said the US is not seeking a 'cold war' with Beijing - only to ensure that international rules are followed. We also hear about Russia's central bank's cut to interest rates. Elsewhere, Apple has increased pay for its retail staff amid cost of living increases and a tight labour market. Sam Fenwick is joined by Diane Brady, Assistant Managing Editor of Forbes in New York, and Sushma Ramachandran, an independent business journalist in Delhi. (Image: Secretary Blinken Outlines Policy Towards China At George Washington University. Credit: Getty Images)
Following the fatal mass shooting at an elementary school in Uvalde, Texas, we discuss the economics of America's gun culture. The US Vice President, Kamala Harris, is calling for the country to pass "reasonable" gun laws after the attack which left 19 children and two teachers dead. We reflect on the impact of George Floyd's death, two years on from his murder at the hands of police in Minneapolis. We also discuss Pfizer's announcement to sell all of its patented drugs and vaccines at non-profit prices to the world's poorest countries. Rahul Tandon is joined by Michelle Jamrisko, who's Senior Asia Economy Reporter for Bloomberg in Singapore, as well as Kimberley Adams from our partners Marketplace in Washington, DC.
More than a dozen pupils have been killed in a shooting at a school in Texas. It happened at Robb Elementary School in Uvalde. The 18-year-old suspect is dead, believed to have been killed by police officers. US President Joe Biden has ordered the US flag to be flown at half-mast until sunset on Saturday 28th May following the mass shooting. Elsewhere, the commodities giant Glencore has agreed to plead guilty to corruption charges in the United States and the UK. It will pay more than $1 billion to end a five-year investigation into corporate malpractice. It was accused of directing traders to fix the oil market as well as using bribes to secure business in half a dozen countries, mostly in Africa. Rahul Tandon is joined by Lori Ann LaRocco, who's Senior Editor at CNBC Business News and author of “Trade War- Containers Don't Lie, Navigating the Bluster”. He also speaks with the Financial Times Tokyo Bureau Chief, Robin Harding about the big business issues of the day.
In three months, conflict in Ukraine has destroyed parts of the country, hurt Russia's economy, and sent shockwaves across the globe. Countries are experiencing never-before-seen inflation, and a critical lack of supplies is forecast to worsen. Then there's the matter of who should pay for the colossal damage inflicted on towns and cities in Ukraine. At the World Economic Forum in Davos, world leaders are trying to solve the problem. A former Ukranian Finance Minister Natalie Jaresko, gives her view on the true cost. Much of the world's focus is on the outcome of that summit, but there's another one happening in Tokyo which could set the course of Asian trade relations for years to come. The Quad countries - Australia, the US, Japan and India - are meeting to discuss matters like China, inflation in the south of the continent, and a new US-led Pacific trading agreement. Tanvi Madan. Director of the Indian Project at the Brookings Institute, takes us through what to expect. ABC's senior business correspondent Peter Ryan is joined by Alison van Diggelen, Silicon Valley tech host, to talk about all the issues of the day. Meanwhile, Germany is among the countries trying new solutions to help citizens come to terms with economic crises. We hear from the Eva Kreienkamp, the head of one of the country's biggest transport companies. Image: Ukrainian President Volodymyr Zelensky is seen on a giant screen next to Founder and executive chairman of the World Economic Forum Klaus Schwab during his address by video conference as part of the World Economic Forum (WEF) annual meeting in Davos on May 23, 2022. (Photo by Fabrice COFFRINI / AFP) (Photo by FABRICE COFFRINI/AFP via Getty Images)
Millions of Australians decide whether or not to vote back in the Conservatives after nine years under the party's rule. BBC's Katie Silver and Australian economist Tim Harcourt tell us more. Rising fuel prices have led food delivery drivers to strike for days in the United Arab Emirates, where industrial action is banned. BBC's Sameer Hashmi explains their struggle from Dubai. Adi Imsirovic from the Oxford Institute for Energy Studies gives us his views on the former German chancellor Gerhard Schroeder's recent resignation from the board of directors of Russia's state-owned oil company, Rosneft. In Korea, president Joe Biden begins his five-day Asia trip with a visit to a Samsung semiconductor plant. We talked to Carolina Milanesi, president of analyst and market research firm Creative Strategies, about this. Vivienne Nunis is joined throughout the programme by guests Tony Nash, Chief Economist at Complete Intelligence in Houston, Texas, and Karen Percy, Senior freelance reporter in Melbourne.
Vivienne Nunis is joined by Alexander Kaufman from the Huff Post in New York, and Jeanette Rodrigues from Bloomberg in Mumbai. We start with the war in Ukraine and the ripple effects it's having on global food supplies. Plus we look at Indonesia resuming palm oil exports next week - one of the world's most important commodities. The leader of the US House of Representatives Nancy Pelosi again warns that the US will not support a bilateral free trade agreement if the UK does anything to undermine the Good Friday Agreement. Plus after another volatile day on the markets, we try to work out whether the US is heading towards a recession. Image credit: Volunteers prepare food in the kitchen of "World Central Kitchen" for war refugees from Ukraine staying in Przemysl, Poland, 15 April 2022. EPA/DAREK DELMANOWICZ POLAND
Could tens of billions of dollars stop the world's poorest going hungry? The World Bank is hoping cash will help those hardest hit by global food shortages. But with Ukraine and other conflicts creating a squeeze on exports of key commodities, the UN is calling for a political solution. A landmark deal in the US means women and men will be paid the same for competing in international football tournaments; and we hear about the man taking American fast food giants to court over the size of their portions.
Anonymous, fake accounts online are a nuisance at best, and at worst, a threat to safety and democracy. Elon Musk wants to crack down on them in his planned takeover of Twitter, but says he doesn't trust the platform's own assessment of the problem. We hear from one of his personal friends about what it could mean for the deal. Mass inflation continues to cause problems across the globe, from shortages in shops to job losses for farmers in Asia and beyond. Ahead of the upcoming G7 summit, experts are wondering if monetary policy can be an effective weapon against price rises. Also, as Japan prepares to welcome tourists, is holidaying on the continent about to make a comeback?
The fast food giant McDonald's has ceased its operations in Russia, two months after temporarily closing 850 branches across the country. The company said Russia's 'humanitarian crisis' in Ukraine, as well as unstable market conditions triggered by the conflict, are behind its decision to stop selling hamburgers there. The first McDonald's in Russia was opened in Moscow in 1990, and was widely seen as a symbol of western democracy.
Cryptocurrency markets are being rocked after a popular token lost 99% of its value. We get the latest analysis from Anita Ramaswamy of the TechCrunch website. Oil giant Saudi Aramco has overtaken Apple to become the world's most valuable company. Indrajit Sen of the Middle East Economic Digest in Dubai discusses the significance of the shift. Russian shipping company Sovcomflot is reportedly selling off a third of its fleet to pay off some European debts before an EU sanctions deadline expires. It's one of the world's biggest transporters of oil and gas. We ask Richard Meade of the shipping journal Lloyd's List what this will mean for international shipping. An investigation in the US has revealed that the state of Louisiana is suing some families for making unlawful repairs to their homes - with government grants given out following Hurricane Katrina. We speak to David Hammer of WWL-TV, the investigative reporter following the story. And we have an extended report from the BBC's Russell Padmore exploring the problem of ships colliding with whales. Fergus Nicoll is joined throughout the programme by Kimberly Adams of our US partner station Marketplace in Washington DC, and by independent economist Andy Xie from Shanghai. (Photo: A cryptocurrency ATM. Credit: Getty Images)
Inflation in the US was up 8.3% in April, down from a growth rate of 8.5% in March, hinting that the peak of inflation could be over. We get analysis from our business correspondent Michelle Fleury in New York. Shanghai is introducing new lockdown measures to try and halt the spread of coronavirus. Don Weinland is China business editor for The Economist, and describes the latest restrictions. Also in the programme, the BBC's Rahul Tandon reports on what happens to a country such as Ukraine when conflict means that cash stops flowing in normal ways. Remittances to low- and middle-income countries will slow down this year because of the war in Ukraine. That's according to a report from the World Bank. We speak to its lead author Dilip Ratha about the consequences. Spain is expected to become the first Western country to introduce menstrual leave, giving women who suffer from painful periods up to three days off per month. Chloe Caldwell, author of menstrual memoir The Red Zone: A Love Story, tells us why she welcomes Spain's decision. Alex Ritson is joined throughout the programme by Ralph Silva of Silva Research Network in Toronto in Canada, and Sushma Ramachandran, business journalist for the Tribune, who's in Delhi, India. (Picture: Supermarket shelves. Picture credit: Getty Images.)
The US Treasury Secretary has said that overturning Roe v Wade, the landmark case protecting abortion access in the country, would have lasting negative effects on the economy. She was speaking to a Congressional Committee on Banking, Housing and Urban Affairs when she made the remarks. We speak to Professor Caitlin Myers, an economist from Middlebury College, Vermont, who specialises in reproductive policies. Staying in the USA, President Biden announced tackling inflation would be his number one domestic priority. We hear from former economic advisor to the Obama administration Jason Furman. Exercise bike maker Peloton is having a bumpy ride - revenue is down 24% and demand for the tech-connected machines slumped this year. Ian Sherr at CNET tells us more. India has ambitious plans to reforest large parts of land and the UK government mulls the legalisation of e-scooters on public roads. Throughout the programme we're joined by Madavan Narayanan, freelance writer and former senior editor at Hindustan Times in Delhi and by Hayley Woodin - usually found covering business news on Canada's west coast for Business in Vancouver - but currently studying at Columbia University in New York City. Picture: Janet Yellen testifies in Congress Credit: Reuters
Ferdinand Marcos Jr, the son of the country's ruler during most of the 1970s, is heading for a landslide victory in the race to replace the current strongman Rodrigo Duterte. Why did voters flock back to the Marcos family, whose reign in the 20th century was so controversial? We speak to Josh Kurlantzick at the Council on Foreign Relations in Washington, DC. There's been further unrest on the streets of Colombo as the economic crisis in Sri Lanka grows deeper. The Prime Minister has resigned and there have been casualities as mobs tried to storm the presidential residence on Monday, as journalist Dimuthu Attanyake tells us. A sharp drop on the US stock markets worried traders on Monday, we get the latest from Peter Jankovskos of Arbor Investments. The value of Bitcoin has halved since November, Taiwan adjusts its previously tough stance on living with Covid and could a reduction in plastic mean less paid work for those who collect it for recycling? Throughout the programme we're joined by by Samson Ellis, Bloomberg's Taipei Bureau Chief, and by political journalist Erin Delmore in New York. Picture: A supporter of Ferdinand Marcos, Jr. Credit: EPA
There are warnings inflation will continue to soar around the world, despite the US and UK increasing interest rates. Stock markets have reacted by falling - the Nasdaq has had its worst day for two years. The Philippines are gearing up for hotly contested elections this weekend - we get analysis from our correspondent in the Philippines, Karishma Vaswami. A special report from Sam Fenwick examines how the war in Ukraine has impacted tourism all around the globe. Rahul Tandon is joined throughout by Jyoti Malhotra, senior consulting editor at the Print in Delhi and Paddy Hirsch, Editor at large at Planet Money in Los Angeles. (Picture: New York Stock Exchange, Wall Street. Credit: Matteo Colombo; Getty Images)
The US central bank, the Federal Reserve, has raised interest rates by 0.5% in a bid to combat rising inflation, which is currently running at 8.5%. We get analysis from our north America business correspondent Michelle Fleury. And Mitchell Hartmann of the Marketplace programme on American Public Media asks whether we might see a repeat of the 'wage-price spiral' of the 1980s. The European Union has proposed a ban on imports of Russian oil and refined fuel products. Richard Bronze is head of geopolitics at the energy sector consultancy Energy Aspects, and talks us through the implications. And we get a sense of how this move could impact the Russian economy from Elina Ribakova, deputy chief economist at the Institute of International Finance. Also in the programme, the BBC's David Reid reports on how fast and portable genome testing is unlocking the secrets to ourselves, and the environment we live in. And Diego Maradona's infamous 'Hand of God' football shirt sells for a record £7.1 million. We assess the legacy of the footballer - and that 1986 game - with Marcela Mora y Araujo, an Argentine sports journalist based in London. Fergus Nicoll is joined throughout the programme by James Mayger of Bloomberg News in Beijing and by Takara Small, tech reporter and podcast host, from Toronto. (Picture: A supermarket in California. Credit: Getty Images)
Oil giant BP booked bumper underlying profits despite a big loss on its exit from Russia. We explore whether oil firms are likely to face windfall taxes on their profits, after Italy increased such a tax, with Dr Sandy Hager, a political economist at City, University of London. Leaked documents in the US have suggested the Supreme Court could be heading towards revoking the historic Roe vs Wade judgement from the 1970s that legalised abortion in the country. Just prior to that news and the political outcry that's followed, Amazon has more quietly told staff it would contribute up to $4,000 in travel expenses for employees seeking to get abortions, as well as certain other treatments. The move will help workers in states like Texas where most abortions have now been illegalised. We hear from Anthony Johndrow, who advises businesses, including tech firms, on their social issue positioning. Also in the programme, the BBC's Mike Johnson examines why Turkey is seeking to rebrand itself with its Turkish name, Türkiye. Ed Butler is joined throughout the programme by Sarah Birke, The Economist's Bureau Chief in Mexico and Robin Harding, Tokyo bureau chief for the Financial Times. Picture: General view of a BP gas station. Credit: Oleg Nikishin/Getty Images
The EU is attempting to agree on a harmonised approach to the continuing issue of oil and gas imports from Russia. Member states' energy ministers have held an emergency meeting. Suzanne Lynch, a reporter for Politico in Brussels, tells us what was on their agenda. The European Commission has accused Apple of abusing it's market position for contactless smartphone payments. Apple denies the charge and has promised to engage with the Commission. We hear more about the the accusations from the BBC's Jonathan Josephs. When a member of staff leaves your workplace team, or gets married, or has a birthday - who is it that organises the whip round, nips out to buy the gift or plans the office party? Is it in most cases a woman? Yes, according to four American academics who've written a book called the 'No Club' in which they identify what they call non promotion task that do nothing for that woman's career. We hear more from one of the book's authors, Lise Vesterlund, an economics professor at thw University of Pittsburg. Ed Butler is joing throughout the programme by Peter Morici, Professor Emeritus of International Business at the R.H. Smith School of Business at the University of Maryland and Sharon Brettkelly from Radio New Zealand in Auckland. (Picture description: Gas pipes at a new gas pipeline compressor station. Picture credit: Getty Images/John Tlumacki)
Amazon has announced its first loss since 2015 due to slowing sales and rising costs; we hear more from James Clayton, the BBC's North America tech reporter. Economic activity in the US contracted unexpectedly in the first three months of 2022. The Harvard economist Professor Ken Rogoff tells us whether it signals a possible recession. Indonesia is the world's biggest producer of palm oil and it's a staple of cooking there but prices there have soared and that has led to street protests so the government has reacted by banning exports of palm oil so there's plenty for the domestic market. We hear from the BBC's Asia Editor, Rebecca Henscke. Also in the programme, a mass strike in Sri Lanka has forced the closure of many schools, shops and services. The BBC's Archana Shukla reports from Colombo. Millions of people in India are experiencing a brutal heatwave that is throwing lives and livelihoods out of gear; the India Meteorological Department says some states are recording 120 year highs. We hear more from Dr Vidhya Venugopal, Professor of Occupational and Environmental Health at the Sri Ramachandra Institute of Higher Education and Research in Chennai. Plus, the BBC's Vivienne Nunis explores why sales of brooches have been soaring, and why they can be such a powerful accessory. (Picture description: Amazon logo on phone; Picture credit: Getty Images)
With global supply chains still reeling in the wake of Covid-19 and the Ukraine war, recent lockdowns in China have compounded the situation. Backlogs have become common place on the USA's west coast, but how has trade there recovered? We get the latest from Josh Brazil of supply chain specialists project44. Plus, the BBC's North America Business Correspondent Samira Hussain reports from Michigan on Ford's iconic F-150 pickup getting a fully electric makeover. After Chinese company DJI, the world's largest drone manufacturer, said it's suspending sales to Russia and Ukraine, we discuss the reasons behind the decision with David Hambling, author of Swarm Troopers: How small drones will conquer the world. We speak to Matteo Pietrobelli from Oceanix, a company working on a project to hopefully create what's been called the world's first floating city. Busan in South Korea has unveiled plans to extend out to sea, using floating, interconnected platforms, in a move that it's hoped could help to mitigate both rising sea levels and human population numbers. And the BBC's Elizabeth Hotson asks whether the false banana, or enset, could help tackle the problem of food insecurity in developing countries. Throughout the programme we're joined live by Rachel Puppazoni, a journalist covering business and the economy for ABC News in Perth, Australia, and by Alison van Diggelen, the host at freshdialogues.com in Silicon Valley. (Photo: Yangshan deepwater port In Shanghai; Credit: Getty Images)
Russian company Gazprom says it will halt gas supplies to Poland and Bulgaria from Wednesday morning. Poland currently depends on Russian imports for around half of its gas. The country's deputy foreign minister Marcin Pzydacz tells us his government was already been prepared for this move. Plus, the World Bank's latest commodities report makes sobering reading, suggesting that high food and fuel prices could blight the global economy for years to come. We hear from its author, World Bank Senior Economist Peter Nagle. With Elon Musk poised to take over at Twitter, the European Union's Commissioner for the Internal Market Thierry Breton tells us that the firm will be welcome to operate in the EU under new management, providing it adheres to the bloc's rules. As Delta Air Lines reveals that cabin crew will be paid for boarding as well as flight time in a landmark announcement, the president of the Association of Flight Attendant Sara Nelson says unionisation efforts by airline staff forced the company's hand. And the BBC's Ivana Davidovic investigates urban mining, the process of reclaiming raw materials from spent products, buildings and waste. Throughout the programme we're joined live by Zyma Islam, a journalist with The Daily Star newspaper in Bangladesh and by Tony Nash, chief economist at AI firm Complete Intelligence, based in Houston, Texas. (Photo: Gazprom says it will halt gas supplies to Poland and Bulgaria; Credit: Getty Images)
Twitter's board has accepted Tesla CEO Elon Musk's $44bn offer to buy the social media giant. Dan Primack, Business Editor at Axios, says that those on both the right and the left who have reacted strongly to the prospect of a Musk-led takeover may be getting ahead of themselves. Stock markets around the world have been shaken by fears of further lockdown measures being implemented in China. We hear from residents of Beijing, who tell us they're not overly concerned by the prospect of a strict lockdown being imposed, and describe the mood in the city. Plus, a joint investigation by The Bureau of Investigative Journalism and the LA Times has revealed that consultants working for cigarette giant Reynolds American Tobacco bankrolled black activists, in an effort to lobby against the prohibition of menthol cigarettes, which are disproportionately popular among African Americans. In Ukraine, much attention has focused on the city of Mariupol in recent days, where hundreds of people are sheltering from a Russian bombardment in bunkers underneath the Azovstal steelworks. We speak to Yuriy Ryzhenkov, CEO of the company which runs the steelworks, Metinvest. Plus, developing economies which rely heavily on tourism have been particularly affected by the global wave of Covid-19 lockdowns which paralysed foreign travel. With voyagers now venturing out again, our correspondent Peter Morgan was reminded of the economic value of optimism during a journey to Nepal. Throughout the programme we're joined live by Peter Landers of the Wall Street Journal in Tokyo, and Forbes deputy editor Diane Brady in New York. (Photo: Elon Musk's $44bn offer was accepted by Twitter's board; Credit: Getty Images)
CNN has pulled the plug on its flagship online streaming service CNN+, less than a month after it was launched to much fanfare. CNBC media & technology reporter Alex Sherman has been covering the story and tells us why the fledgling platform failed. Like many economies which reap huge benefits from tourism, Thailand has struggled with a sharp drop in visitor numbers during the Covid-19 pandemic. The government is now trying to woo some of those potential visitors again, but rising coronavirus cases are complicating the issue. Ahead of pivotal midterm elections in November, we survey the political landscape in the United States, as President Biden announces a new package of $800 million in military aid for Ukraine. The Managing Director of the International Monetary Fund, Kristalina Georgieva, says Ukraine needs up to $7 billion per month in the near future, in the wake of Russia's invasion. The BBC's Economics Editor Faisal Islam has been speaking to her, and joins us from Washington DC to talk through the big news lines emanating from the IMF/World Bank 2022 Spring Meetings. Plus, the BBC's Victoria Craig has been catching up with some of British food sector businesses to see how they're coping with the current stage of the pandemic. Throughout the programme we're joined live by political reporter Erin Delmore in New York, and Patrick Barta of the Wall Street Journal in Bangkok. (Photo: A billboard advertising CNN+ in Manhattan; Credit: Getty Images)
Germany says it is working hard to reduce its reliance on Russian energy. The BBC's Faisal Islam speaks to the German finance minister Christian Lindner. As Tesla releases its Q1 earnings, we get analysis from Dan Ives, senior equity analyst at Wedbush Securities, and ask whether the recent factory shutdowns in Shanghai have had an effect on the company's performance. Satellite broadband is still in its infancy, but more and more people are using the technology to connect to the internet - not least in war-torn Ukraine, where conventional communication networks are being destroyed by Russian forces. It's proving extremely useful, but could it also bring the internet to remote corners of the globe in the future? We have a report from Sam Fenwick. Plus, the BBC's Adrienne Murray reports from Denmark on how labour shortages following the pandemic have opened the door to greater automation of tasks through the use of robots. Fergus Nicoll is joined throughout the programme by Mehmal Sarfraz, a journalist and co-founder of the Current PK website in Lahore, and Ralph Silva of the Silva Research Network in Toronto. (Picture: An oil refinery. Picture credit: Getty Images.)
The company lost 200,000 customers in the first three months of the year. We look at the reasons why with entertainment journalist Caroline Frost, and what challenges the company is facing. The International Monetary Fund expects global economic growth to slow to 3.6% this year. The forecast shaves almost a percentage point of growth from its forecast from before the war in Ukraine, and we get analysis from the BBC's economics editor Faisal Islam. The BBC's Theo Leggett reports from France on the country's post-pandemic economic recovery, ahead of this weekend's second round of the presidential election. Also in the programme, we look at why some people decide to anglicise their name in order to “fit in” in the workplace with the BBC's Noor Nanji. Plus, our regular workplace commentator Stephanie Hare considers how the Ukraine crisis affects the way businesses engage with the political sphere. Sasha Twining is joined throughout the programme by James Mayger, Bloomberg's China economics reporter in Beijing, and by Takara Small, CBC's technology reporter in Toronto. (Picture: The Netflix sign. Credit: Getty Images)
Workers at Apple's Grand Central Station store in New York have announced a plan to start a union. If their bid is successful it would be the first union at one of the tech giant's US stores. Anna Kramer with the news site Protocol explains the process from here. Also in the programme, China has announced its latest economic growth figures. The NBA's Golden State Warriors team is developing its own entertainment division. And the BBC's Elizabeth Hotson looks into how Covid-19 has changed the way we work - and the rise of the virtual interview. All through the show we'll be joined by Peter Morici in Washington DC and Jessica Khine in Johor, Malaysia.
Tesla boss Elon Musk has offered to buy Twitter, saying he is the right person to "unlock" the social media platform's "extraordinary potential". In a surprise announcement, Mr Musk said he would pay $54.20 a share for Twitter, valuing it at about $40bn. We get analysis from global tech journalist Chris Stokel-Walker. Nepal says it's considering declaring a two-day weekend, instead of its Saturday only weekend, as part of measures to reduce the consumption of petroleum products. The BBC's Anbarasan Ethirajan reports from Kathmandu. The BBC's Rahul Tandon speaks to Greg Hoffman, former chief marketing officer at Nike, about the company's iconic 2018 advertising campaign featuring American football star Colin Kaepernick. And following a boom in pet ownership during the pandemic, services for those dogs and cats are springing up. We hear from Donna Connelly, owner of Angel's Pet Care and Barking Mad Dog Training in Newcastle. Sasha Twining is joined throughout the programme by Alaezi Akpuru, creative director at Virgioli Fashion in Lagos, and by author and economic commentator Paddy Hirsch in LA. (Picture: Elon Musk. Credit: Getty Images)
Sri Lanka is due to start negotiations with the International Monetary Fund next week and its just emerged that India, its northern neighbour, may be willing to commit up to another $2bn in financial assistance, along with food and fuel aid. Also in the programme, a court in Jersey has now seized 7 billion US dollars worth of assets linked to the Russian billionaire Roman Abramovich. He is on the UK and EU sanctions list, and is now unable to access items such as his yachts, or Chelsea Football Club. So, what does this step from Jersey mean for the Mr Abramovich? Justine Walker is Global Head of Sanctions Compliance and Risk at ACAMS - that's the Association of certified anti-money laundering specialists. Plus, Russia is suffering brain drain, with some suggesting that tens of thousands of tech workers are leaving the country after sanctions have made business difficult - or impossible; we hear from Artem Taganov, founder and chief executive of a Russian start-up called HintEd - he's moved to Armenia from Moscow. And, we take you to take you to Africa's smallest economy. São Tomé and Príncipe, the twin island nation in the Gulf of Guinea in Central Africa. We hear from two entrepreneurs, who are trying to make a career in their home. (Picture description: Protests outside the President's office in Columbo. Picture credit: Ishara.S.Kodikara via Getty Images).