The latest business and finance news from around the world from the BBC
The United States Secretary of State, Anthony Blinken, accuses Russia of using food as a weapon of war - holding "hostage" food supplies that are usually exported to millions of people. Daniil Melnychenko is a data analyst at Informall Business Group - based in Odessa - he tells us about the issue. Indonesia will resume palm oil exports next week - one of the world's most important commodities. Norman Harsono has been covering the story for the Jakarta Post - he tells us why the President has changed his mind. Australia's recorded its lowest unemployment figure in almost fifty years - just 3.9% last month. Businesses say they're desperate for staff - and Liarne Peek, who owns the Matterhorn Restaurant in Sydney tells us about the problems she's facing.
Investors are worried about a possible recession after steep Wall Street falls on Wednesday. We have the latest on the financial markets from Michael Hewson of CMC Markets, and explore the prospects for the global economy with Simon Macadam at Capital Economics in London, and Allison Schrager, senior fellow and economist at the Manhattan Institute in New York. Also in the programme, the BBC's Phil Mercer reports from Australia on how the rising cost of living is a central theme in campaigning ahead of this weekend's general election. The BBC's Rahul Tandon examines changing attitudes to defence spending following Russia's invasion of Ukraine. Plus, we hear how Joe and Jess Thwaite, from Gloucester in England, found out that they had won $228m on the EuroMillions lottery. Today's edition is presented by Mike Johnson, and produced by Sarah Hawkins and Sara Parry.
The World Bank has pledged 30 billion dollars to help tackle world hunger over the next 15 years. Professor of Economics at the University of Massachusetts Amherst, US, Jayati Ghosh, gives us her take on whether that amount is enough. Share prices in the United States have seen their biggest one day drop since 2020. The DOW Jones Industrial Average fell more than three and a half percent. Our Business Correspondent Samira Hussein tells us why. As things take another turn for the worse in Sri Lanka, the power minister Kanchana Wijesekera says people should stop queueing for fuel - as the country has no money to buy any. Shanta Devarajan who's part of the Sri Lankan team speaking to the IMF, tells us about the negotiations. Walter Koenig from the Bavaria Brewers Federation tells us about German worries that a shortage of beer bottles there could leave people without their favourite drink.
There's an increased focus on renewable energy sources such as solar and wind, and we get reaction from Giles Dickson, chief executive of the group Wind Europe. The BBC's Adrienne Murray reports on a scheme to boost North Sea wind energy production. And we hear from Anna Borg, chief executive of Swedish state owned energy company Vattenfall, which is already investing in North Sea wind projects. Also in the programme, a judge in California has thrown out legislation that required publicly listed companies to ensure a certain level of female representation on their boards. We find out more from Laura Whitcombe, global campaign manager of the 30% Club, which campaigns for more gender diversity in companies. Plus, the BBC's Mariko Oi meets some of the young people choosing to engage in high risk cryptocurrency markets. Today's edition is presented by Sasha Twining, and produced by Faarea Masud, Sarah Hawkins and Elizabeth Hotson.
Elon Musk - the world's richest man - has been in talks to buy social media giant Twitter since April. But the deal is stalling because of his concerns over the platform's 'bots'. His friend Ross Gerber tells us why it's so important to Mr Musk - and Twitter users. Latest figures show how Americans are spending more despite record inflation. Trading insider Joe Saluzzi analyses the numbers along with Chicago coffee businesswoman Amanda Harth, and Jill Renslow from Minnesota's Mall of America. Also, Air Asia boss Tony Fernandes says tourism on the continent is ready to take off again; and the former Canadian finance minister, Joe Oliver, has an interesting tale to tell about Vladimir Putin.
The UK outlined a plan to change the Brexit deal agreed with the EU on Northern Ireland. Tony Connelly is Brussels correspondent for the Irish TV channel RTE, and explains how the EU is likely to respond to any unilateral measures that might be taken. Also in the programme, amid a worsening economic crisis, Sri Lanka has run out of fuel. We get a sense of what life is like for ordinary Sri Lankans from Saajid Nazmi, who is an e-commerce worker, whose boss has let him work from home because of the rising cost of commuting. Indonesian palm oil farmers have been protesting in Jakarta, after a government ban on the export of palm oil has led to a steep fall in the price of the commodity. We find out more from Djono Albar Burhan of the Indonesian Palm Oil Smallholder Association. Plus, the BBC's Samira Hussain reports on the ongoing power difficulties in Puerto Rico, caused by successive hurricanes five years ago, which heavily damaged the island's electricity grid. Today's edition is presented by Ed Butler, and produced by Faarea Masud, Sarah Hawkins and Elizabeth Hotson.
Sri Lanka's new Prime Minister, Ranil Wickremesinghe, issues an urgent warning over the country's fuel crisis, saying $75 million is needed to pay for essential imports. Supplies of food and medicine are affected. We hear about the impact of the crisis on ordinary Sri Lankans and ask what next for the country.
Amid a wave of Covid lockdowns, there has been a sharp slowdown in the Chinese economy. We hear from one Shanghai resident about the ongoing impact of lockdowns in the city. And we explore the potential impact on the global economy with the independent economist George Magnus. Also in the programme, McDonald's is selling its business in Russia, in response to the country's invasion of Ukraine. Anne McElvoy, executive editor of The Economist talks us through the fast food giant's history in Russia. International wheat prices have reached fresh record highs as an export ban by India threatens to squeeze the world's wheat supply even further. We get a sense of how it could affect the world's largest wheat importer, Egypt, from Angy Ghannam, deputy editor of BBC Monitoring in Cairo. Plus, our regular workplace commentator, Pilita Clark, makes the case for staying quiet in work meetings. Today's edition is presented by Ed Butler, and produced by Faarea Masud, Sara Parry, and Gabriele Shaw.
Members of the G7 richest nations have been meeting to discuss global food security. This comes in the wake of Russia's invasion of Ukraine, which has caused a spike in global food prices. We find out more from Monika Tothova, who is an economist with the UN's Food and Agriculture Organization. Also in the programme, North Korea has reported its first official deaths from Covid 19. As the country goes into lockdown, we get a sense of the likely economic impact from Sreyas Reddy, from the BBC Monitoring service. As Italy prepares to stage this year's Eurovision Song Contest on Saturday in Turin, Adrian Bradley reports on the potential economic benefit to a country from hosting the event. Plus, after 31 years in charge of World Business Report, Martin Webber is stepping down. He takes us through some of his audio highlights from the past three decades. Today's edition is presented by Sasha Twining, and produced by Philippa Goodrich, Joshua Thorpe and Nisha Patel.
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. 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.
Oil giant Saudi Aramco has overtaken Apple to become the world's most valuable company. Tom Wilson of the Financial Times discusses the significance of the shift, and we get wider context on the rising price of oil from Kristine Petrosyan of the International Energy Agency. Also in the programme, cryptocurrencies such as Bitcoin have seen dramatic falls in value since the start of this year. The BBC's Victoria Craig reports on the causes of the volatility, and a desire in the UK to impose stricter regulation on the sector. Many countries have criticised Russia in the wake of its invasion of Ukraine. The United Arab Emirates is not one of them though, and Dubai in the UAE is turning out to be a popular destination for Russians trying to flee the impact of sanctions, as the BBC's Sameer Hashmi explains. Plus, we have an extended report from the BBC's Russell Padmore exploring the problem of ships colliding with whales.
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. And Susan Schmidt of Aviva Investors in Chicago tells us how investors reacted to the inflation figures.
Opening Parliament on the Queen's behalf, Prince Charles announced several economic plans. But like so many other countries, the UK faces a cost of living crisis, and none of the government bills introduced directly address the problems caused by high inflation. We get reaction to what was outlined from Miatta Fahnbulleh, who is chief executive of the New Economics Foundation, and hear about the challenges faced by the nation's poorest people from Charlotte White, manager of Earlsfield Food Bank. Also in the programme, a former employee of Facebook's parent company Meta has filed a lawsuit in Kenya alleging that poor working conditions for outsourced content moderators violate the country's constitution. Billy Perrigo from Time magazine has been investigating the issue, and fills us in on the details. The BBC's Nikhil Inamdar reports on the challenge of large scale tree planting projects in India, which aim to reduce carbon dioxide from the atmosphere, but may not be going according to plan. Plus, a portrait of Marilyn Monroe by Andy Warhol has sold in New York for $195m, making it the most valuable piece of 20th century art to date. Jessica Beck is a curator at the Andy Warhol museum in Pittsburgh, and tells us what makes the portrait so valuable. Today's edition is presented by Joshua Thorpe, and produced by Ivana Davidovic and George Thomas.
Amid deepening economic crisis, Sri Lanka's Prime Minister Mahinda Rajapaksa has resigned. Journalist Dimuthu Attanayake talks us through the country's economic woes. Also in the programme, voting has closed in the Philippines' presidential election. We hear about the business and economic issues that weighed on voters' minds, from Hannah Fernandez, correspondent for Eco Business in the country. Chinese authorities are restricting those aged under 18 from live-streaming themselves on the internet. The BBC's Kerry Allen explains the background. Plus, Goldfields, which is the world's sixth biggest gold producer, has said that from August it will start running one of its mines in South Africa, in part at least, on solar power. Lennon Sukhoo is the project manager looking after the solar installation, and tells us what impact the move is likely to have. Today's edition is presented by David Harper, and produced by Ivana Davidovic, Marie Keyworth, and George Thomas.
The world's top economies unveil further sanctions on Russia and promise military aid - we speak to Dmitry Gorenberg at the CNA research institute in Arlington, Virginia. Plus we hear from Chris Weafer of Macro Advisory in Moscow about the impacts sanctions are already having on Russia, and from Karina Luchinkina, a Ukranian activist in London urging companies to stop doing business with Russia. In China social media platforms are being forced to publish users' IP addresses in a bid to stamp out fake news, the BBC's Kerry Allen tells us more. Independent economist Michael Hughes talks inflation and consumer prices, Canadian fisherman Grant Scott explains how the Pacific herring fishery is close to disaster, and Natalia Abrams of the Student Debt Crisis Centre in the US tells us how student debt is hindering the wider economy. We talk deadlines with Kevin Murphy at the University of Limerick and atomic clocks in space with Jean Yves Courtois of Orolia - a manufacturer of the incredibly accurate timekeeping devices. The programme is presented by Russell Padmore and produced by Russell Newlove.
The BBC's Michelle Fleury joins us to explain the latest US unemployment figures. And the US Treasury Department is banning Blender - a type of currency mixer which scrambles cryptocurrencies from thousands of addresses, to make transactions even harder to trace. It was used in a huge multi-million dollar heist undertaken by hackers in North Korea; we hear more from Herb Scribner, a reporter at Axios
The BBC's Michelle Fleury joins us to explain the latest US unemployment figures. Also in the programme, 2000 trade unions in Sri Lanka have participated in a nation-wide strike, with employees calling in sick and out on the streets across the country. Our reporter Archana Shukla gives us the latest from Colombo. On Monday, voters in the Philippines will head to the polls to choose a successor to President Rodrigo Duterte, who can't run again due to term limits. The BBC's Karishma Vaswani in Manila explains what the key issues will be for voters. And Martyn Williams has a report about the English film enthusiasts who are working to bring back 35mm projectors.
Turkey's annual inflation is at a 20 year high. The BBC's Victoria Craig has been following this story closely and brings us details on how Turkey's unconventional monetary policy is impacting regular consumers. Today in Lithuania, gas has begun flowing through a new gas pipeline to Poland. Christof Ruhl from Columbia University's Center on Global Energy Policy explains its significance. A special report from Sam Fenwick examines how the war in Ukraine has impacted tourism all around the globe. Finally, since today is World Password Day, we have a look at best ways to keep your digital passwords safe.
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 Susan Schmidt of Aviva Investors in Chicago tells us how investors reacted to the Fed's announcement. 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.
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 US Federal Reserve is due to announce its latest interest rate decision shortly. We explore its options with the BBC's Michelle Fleury. Meanwhile the Reserve Bank of India announced a surprise 0.4 percentage point interest rate increase. The BBC's Nikhil Inamdar tells us what was behind the move. Plus, 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.
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. Plus the latest from Wall Street with Joe Saluzzi from Themis Trading.
Oil giant BP booked bumper underlying profits despite a big loss on its exit from Russia. Bill Farren-Price is an energy analyst at Enverus, and explains the figures. And we explore whether oil firms are likely to face windfall taxes on their profits, after Italy increased such a tax, with Chiara Albanese from Bloomberg in Rome. Also in the programme, the BBC's Mike Johnson examines why Turkey is seeking to rebrand itself with its Turkish name, Türkiye. Plus, as a law firm tells its employees they can work from home if they agree to a 20% pay cut, Emma Bartlett, employment law partner at CM Murray tells us whether it's an idea that is likely to catch on. Today's edition is presented by Will Bain, and produced by Nisha Patel, Russell Newlove and Frey Lindsay.
Today, 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 are holding 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 its 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. In the last day we've learned that the streaming giant Netflix has cancelled development on Pearl - the animated series about a young girl inspired by influential women in history - that was being produced as part of a deal with the Duke and Duchess of Sussex. Julian Aquilina, a senior TV analyst at the media research firm, Enders Analysis, explains why the company is having to take a serious look at its budget for original content.
Today, 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 are holding an emergency meeting. Sam Fleming, the Financial Times' bureau chief in Brussels, tells us what was on their agenda. Meanwhile in Berlin, India's PM Narendra Modi has arrived for a meeting with the German Chancellor, Olaf Scholz. Yeshi Seli, a journalist in New Delhi, says it's happening at a time when India is under immense Western pressure to reduce its ties to Russia. Elsewhere, Kenya's president, Uhuru Kenyatta, has announced a hike to the country's minimum wage. Kenyan analyst Churchill Ogutu describes how the news has been received in the country. The BBC's Theo Leggett has a chat with Henrik Fisker, founder of battery powered vehicle company Fisker, about how he believes there's plenty of room in the electric car market for his firm to exist alongside Elon Musk's Tesla. In the last day we've learned that the streaming giant Netflix has cancelled development on Pearl - the animated series about a young girl inspired by influential women in history - that was being produced as part of a deal with the Duke and Duchess of Sussex. Julian Aquilina, a senior TV analyst at the media research firm, Enders Analysis, explains why the company is having to take a serious look at its budget for original content.
Germany says it's making progress in weaning itself off Russian energy sources in response to Moscow's invasion of Ukraine. The government says Europe's most powerful economy has cut dependence on Russian oil and gas imports by about a third, while coal imports have been slashed by eighty per cent. We hear from Nathan Piper, Head of Oil & Gas Research at Investec. Russia could formally be declared to have defaulted on its debts next week, but will it have much impact on global markets? We hear from Maria Demertzis, deputy director and economist at Bruegel, a think tank in Brussels. Plus Greece has just lifted the Covid Pass requirement for bars, restaurants and shops. We hear from Helena Smith, a journalist in Athens, on how this will help the Greek tourism industry and economy. This edition is presented by Joshua Thorpe and produced by Russell Padmore George Thomas.
Joe Saluzzi from Themis Trading in New Jersey analyses the latest news on the US economy. And in the first three months of 2022, Italy's economy contracted by 0.2%. Italian journalist Giada Zampano talks us through the latest data. US law enforcement officers have arrested Andrew Fahie, the premier of the British Virgin Islands, in Florida, on charges relating to drugs trafficking and money laundering. We find out more from Daniel Bruce, chief executive of Transparency International UK. Plus, the BBC's Rahul Tandon explores the removal of Disney's special status in Florida, following the company's criticism of the state's new law restricting discussion of LGBTQ issues in schools.
In the first three months of 2022, Italy's economy contracted by 0.2%. Italian journalist Giada Zampano talks us through the latest data. Also in the programme, Chinese technology stocks have surged, on speculation that a government crackdown on the tech sector may soon start to ease. Jonathan Cheng is China bureau chief at the Wall Street Journal, and explains the background. US law enforcement officers have arrested Andrew Fahie, the premier of the British Virgin Islands, in Florida, on charges relating to drugs trafficking and money laundering. We find out more from Daniel Bruce, chief executive of Transparency International UK. Plus, the BBC's Rahul Tandon explores the removal of Disney's special status in Florida, following the company's criticism of the state's new law restricting discussion of LGBTQ issues in schools. Today's edition is presented by Faarea Masud, and produced by Joshua Thorpe, Ivana Davidovic and George Thomas.
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.
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. Also in the programme, a mass strike in Sri Lanka has forced the closure of many schools, shops and services. The BBC's Ranga Sirilal tells us why people in the country have withdrawn their labour. The United Nations Secretary General Antonio Guterres has been visiting Ukraine today. We catch up with Ukrainian businessman Oleg Chernyak, of CHI Software, to hear how he and his staff are doing, now that they have moved from Kharkiv in the east, to the relative safety of Lviv in the west. Plus, the BBC's Vivienne Nunis explores why sales of brooches have been soaring, and why they can be such a powerful accessory. Today's edition is presented by Will Bain, and produced by Faarea Masud, Ivana Davidovic and George Thomas.
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, as Facebook parent company Meta reports better-than-expected profit figures and an increase in the number of users, we get the latest on the firm's quarterly figures from our North America Business Correspondent Michelle Fleury in New York. 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. The BBC's Elizabeth Hotson asks whether the false banana, or enset, could help tackle the problem of food insecurity in developing countries. And 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.
Chinese drone maker DJI halted sales to Russia and Ukraine to avoid their use in the war. Matt Williams is a former military pilot, and expert on drone operations, and discusses the thinking behind the move from the world's biggest drone firm. Also in the programme, the BBC's Samira Hussain reports from Dearborn, Michigan, on the prospects for the new electric Ford F-150 pickup truck. A Danish robotics company has teamed up with General Electric with the aim of producing towers for wind turbines using a 3D printer. We find out more from Henrik Lund-Nielsen, founder and general manager of Cobod International. Plus, the BBC's Elizabeth Hotson asks whether the false banana, or enset, could help tackle the problem of food insecurity in developing countries. Today's edition is presented by Faarea Masud, and produced by George Thomas and Elizabeth Hotson.
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. We take a look at what's been happening in the US markets with Joe Saluzzi from Themis Trading, after a difficult day for tech stocks. 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 North America Business Correspondent Samira Hussain reports from Michigan on Ford's iconic F-150 pickup getting a fully electric makeover.
As Twitter's board agrees a sale to Elon Musk, we ask how the social network might change. Bruce Daisley was vice-president of Twitter for Europe, the Middle East and Africa, and brings us his perspective on the proposed deal. Also in the programme, the bank HSBC has just unveiled earnings that did not meet investor expectations. Frances Coppola is an independent banking analyst, and tells us what is putting pressure on the firm's profits. The BBC's Ivana Davidovic investigates urban mining, which is the process of reclaiming raw materials from spent products, buildings and waste. Plus, the world's largest horticultural show, Floriade, is under way in the Netherlands. Frank Cornelissen is chief commercial officer for the event, and tells us more.
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. Peter Jankowskis, Vice President of Research and Analytics at Arbor Financial Services, tells us how markets in the US have reacted to the potential buyout, as well as 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. 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. And 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.
Chinese stock markets closed sharply down amid concerns Beijing may soon go into lockdown. With reports of panic buying at supermarkets in the city, we hear from student Keegan Elmer in Beijing, and get wider context from Jonathan Cheng, China bureau chief of the Wall Street Journal. Also in the programme, there are reports that Tesla entrepreneur Elon Musk may be close to securing a purchase of the social media site Twitter. The BBC's Samira Hussain brings us up to speed from New York. As Emmanuel Macron secures a second term as president of France, the BBC's Rob Young examines how he will approach tackling the country's economic challenges. Plus, our regular workplace commentator Peter Morgan reflects on the economic importance of optimism, following a visit to the far reaches of Nepal. Today's edition is presented by Faarea Masud, and produced by Joshua Thorpe and George Thomas.
Centrist Emmanuel Macron has been re-elected as president of France, defeating far-right candidate Marine Le Pen in Sunday's run-off. The BBC's Rob Young has been following the vote from Nice, and tells us that Le Pen increased her vote share in a rematch of the second round of voting from 2017. Tomasz Michalski, a professor at the renowned business school HEC Paris says that spiralling inflation, which is outpacing salary increases, leaves the incumbent victor with a big challenge on his hands over the next five years. Carsten Brzeski, chief economist at ING in Frankfurt, tells us that Macron's victory will generate relief in Brussels and in capitals across the European Union. Away from France's election, we look at how countries who are taking in Ukrainian refugees may stand to benefit from an influx of highly-skilled, competent workers. More than five million people have fled the country in the wake of Russia's invasion according to the United Nations, and Anna Shevchenko, the chief executive of 3CN gives us her take on how host countries will see a positive impact from the new arrivals. Despite international efforts to punish Russia economically for invading Ukraine, Russian crude oil exports have actually increased since the start of the war. Mark Williams, a research director with Wood Mackenzie, explains what's going on. And Germany's chancellor Olaf Scholz will fly to Tokyo to meet Japanese Prime Minister Fumio Kishida this week. High on Japan's list of concerns is the increasing economic influence of China, particularly at a time when Beijing is growing closer to Moscow. Yuuchiro Nakajima, managing director of corporate advisory firm Crimson Phoenix, tells us what's likely to be on the two leaders' agenda.
Former Nissan boss Carlos Ghosn, who fled Japan whilst awaiting trial, says he'd be willing to go to court in Lebanon on financial wrongdoing charges. Speaking to the BBC's international business correspondent Theo Leggett, Mr. Ghosn said he had not profited from financial impropriety. Plus, ahead of the second round of France's presidential election on Sunday, the BBC's Paris correspondent Hugh Schofield tells us how the two candidates wound up their campaigns, and what their economic priorities are. Chris Low from FHN Financial tells us how stock markets in the US have been affected by the Federal Reserve Chair Jerome Powell suggesting that half percentage-point interest rate increases could be on the horizon. We hear from a resident of Shanghai in China, who describes the impact of the city's stringent Covid-19 lockdown. And Kristin Schwab of World Business Report partner programme Marketplace reports on how current high inflation rates are hitting women harder than men.
Shanghai residents infected with coronavirus will get door alarms to prevent them leaving. We get a sense of how that and other new restrictions are impacting daily life from one resident of the city, Anthony who owns a beauty clinic there. Also in the programme, market traders in Ghana are calling for authorities to implement policies to hold prices stable as inflation bites. We find out more from Dr Agyapomaa Gyeke-Dako, from the University of Ghana Business School in Accra. A year after we first spoke with them, the BBC's Victoria Craig revisits a number of companies that had adapted their business models to deal with the coronavirus pandemic, to find out whether the changes turned out to be permanent. Plus, ahead of World Record Store Day this weekend, which celebrates everything to do with independent music shops, we hear how the market for vinyl records is evolving, from Rupert Morrison, owner of Drift Records in Devon, in southwest England.
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 on the line from Washington DC to talk through the big news lines emanating from the IMF/World Bank 2022 Spring Meetings. Plus, a harrowing day for American news giant CNN, which has axed its recently-launched online streaming service CNN+, less than a month after its launch. CNBC media & technology reporter Alex Sherman has been covering the story and tells us why the fledgling platform failed. Also in the programme, we explore the impact on renewable energy investment of the rising price of fossil fuels, with the environmentalist George Monbiot. The World Bank has warned of a potential global food crisis, as a result of Russia's invasion of Ukraine. We have a report from the BBC's Rahul Tandon about the private businesses that have stepped in to evacuate their own staff and others away from danger in Ukraine.
Emmanuel Macron and Marine Le Pen have held their only debate ahead of France's election. Voters head to the polls on Sunday to choose their next president, and we get analysis of the candidates' economic plans from Victor Mallet, Paris bureau chief of the Financial Times. Also in the programme, we explore the impact on renewable energy investment of the rising price of fossil fuels, with the environmentalist George Monbiot. The World Bank has warned of a potential global food crisis, as a result of Russia's invasion of Ukraine. We hear more from the World Bank's president, David Malpass. We have a report from the BBC's Rahul Tandon about the private businesses that have stepped in to evacuate their own staff and others away from danger in Ukraine. Plus, to counter a low birth rate, the government of Singapore is abolishing a law which currently prevents healthy single women aged between 21 and 35 from freezing their eggs. We find out more from one Singapore resident, who is just too old to take advantage of the new rules. Today's edition is presented by Martin Webber, and produced by Benjie Guy, Ivana Davidovic and Frey Lindsay.
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. And Susan Schmidt of Aviva Investors in Chicago brings us up to date on the day's movements on Wall Street.
The streaming giant Netflix lost 200,000 subscribers in its first such decline since 2011. We get reaction to the development, which saw the firm's share price decline substantially, from Georg Szalai, who is international business editor at The Hollywood Reporter. Also in the programme, YouTube has terminated the campaign channel of John Lee Ka-chiu, who is expected to become Hong Kong's next chief executive. Tom Grundy, editor in chief of the Hong Kong Free Press, explains how YouTube's parent company Google justified the move. Fake online reviews are to be outlawed under a package of measures proposed by the UK government in a bid to stop people being ripped off. Kate Nicholls is chief executive of UK Hospitality, which represents hotels and restaurants, and gives us the industry's reaction to the news. 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. Today's edition is presented by Ed Butler, and produced by Joshua Thorpe, Ivana Davidovic, Elizabeth Hotson and Tom Kavanagh.
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. Also in the programme, as the streaming service Netflix announces its quarterly results, we ask entertainment journalist Caroline Frost what challenges the company is facing. And Joe Saluzzi of Themis Trading in New Jersey tells us how the day's trading was affected.
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 Harvard economist Ken Rogoff, who is also a former IMF chief economist. Also in the programme, the government in Argentina is planning to create an aid programme to help the country's poorest people, which will be funded by businesses that have profited from the Ukraine conflict. We get analysis of the move from Hector Torres, who is a former executive director for the IMF in Argentina. 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. We look at why some people decide to anglicise their name in order to “fit in” at 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. Today's edition is presented by Ed Butler, and produced by Joshua Thorpe and Ivana Davidovic.
We start the programme with news that workers at Apple's Grand Central Station store in New York have announced a plan to start a union. If the bid is successful, it would be the first union at one of the tech giant's US stores and follows moves by both Starbucks and Amazon employees to unionize. We spoke to Anna Kramer, a workplace, tech labour, and tech culture reporter at news site Protocol about where this could go. We then move on to discuss what sort of impact did the China GDP figures have on the markets with Peter Jankovskis of Arbor Financial Services in Illinois. Lastly, we look into NBA super-team the Golden State Warriors launching a new entertainment division. Jabari Young, a CNBC Sports reporter talks us through why they are doing this and what it means for the sport.
China has announced three deaths from coronavirus, the first in the country since 2020. And there's more bad news; the Financial Times newspaper is reporting that a record numbers of citizens have been enquiring about leaving China for good- the FT's China economics reporter, Sun Yu, gives us the details. And we hear more about China's economy from James Mayger, China Economy Editor for Bloomberg News in Beijing. Chris Low of FHN financial in New York tells us how the markets may react to reports that the IMF is planning to downgrade economic growth forecasts for several countries as a result of Russia's invasion of Ukraine. Plus, covid-19 changed many aspects of the way we work, and the traditional face-to-face job interview is one of the pandemic's many casualties. The BBC's Elizabeth Hotson has been looking at how virtual reality and artificial intelligence are already changing the way companies hire people. And one of the UK's biggest video games festivals, Insomnia, finishes today; festival organiser, Craig Fletcher, brings us the highlights.
Ukraine is asking the G7 for $50 billion to plug a huge hole in its war torn economy. It comes as countries continue to enforce sanctions on Russia as the conflict in Ukraine continues, but several industries have so far avoided efforts to close them down. One of the world's biggest diamond trading centres in the Belgian city of Antwerp is still selling Russian diamonds, marketed by Alrosa, despite pressure to stop. Hans Merket, a researcher who studies links between natural resources and conflict for IPSIS, which is coincidentally based in Antwerp, explains how important Alrosa is to the global diamond trade. The government in Kiev is preparing to ask the G7 group of the world's biggest industrialised economies for $50 billion to plug a big financial hole in the country's economy. It is also reported that Ukraine will issue a bond with a rate of zero percent, in other words investors will get no return for lending money. The economic commentator Michael Hughes believes Ukraine may be seeking funding to rebuild its economy earlier than it should. We also get to grips with a warning that too many businesses are investing in new projects, at the expense of cyber security. The global software firm Cyber Ark has carried out research across the world asking almost 18 hundred IT decision makers, in several countries, what their firm is spending money on and it seems about eight in ten are prioritising funding for operations which are not related to beefing up cyber security. This is at a time when online attacks by hackers are on the rise. Udi Mokady, the founder and chief executive of Cyber Ark Software in Boston, says there is a growing threat from artificial intelligence or bots. We also hear from Nigeria, where the crime of kidnapping is on the rise and becoming a lucrative business for bandits. It is reported ransom payments for the safe return of victims like students is worth as much as $20 million a year. Endurance Okafor, a journalist in Lagos tells us more about the factors that are behind the rise in abductions. We also go west to California, an American state where drought is a major problem, which has raised questions about the water intensive activity of growing almond nuts. The farmers are under pressure over complaints about how much water they use to grow the crop and incidents of pesticides killing bees, damaging the honey sector. Christine Gamperley, an almond farmer in the central valley, east of San Francisco, tells us about the challenges facing growers.
Ukraine is asking the G7 for $50 billion to plug a huge hole in its war torn economy. It comes as countries continue to enforce sanctions on Russia as the conflict in Ukraine continues, but several industries have so far avoided efforts to close them down. One of the world's biggest diamond trading centres in the Belgian city of Antwerp is still selling Russian diamonds, marketed by Alrosa, despite pressure to stop. Hans Merket, a researcher who studies links between natural resources and conflict for IPSIS, which is coincidentally based in Antwerp, explains how important Alrosa is to the global diamond trade. The government in Kiev is preparing to ask the G7 group of the world's biggest industrialised economies for $50 billion to plug a big financial hole in the country's economy. It is also reported that Ukraine will issue a bond with a rate of zero percent, in other words investors will get no return for lending money. The economic commentator Michael Hughes believes Ukraine may be seeking funding to rebuild its economy earlier than it should. We also get to grips with a warning that too many businesses are investing in new projects, at the expense of cyber security. The global software firm Cyber Ark has carried out research across the world asking almost 18 hundred IT decision makers, in several countries, what their firm is spending money on and it seems about eight in ten are prioritising funding for operations which are not related to beefing up cyber security. This is at a time when online attacks by hackers are on the rise. Udi Mokady, the founder and chief executive of Cyber Ark Software in Boston, says there is a growing threat from artificial intelligence or bots. We also hear from Nigeria, where the crime of kidnapping is on the rise and becoming a lucrative business for bandits. It is reported ransom payments for the safe return of victims like students is worth as much as $20 million a year. Endurance Okafor, a journalist in Lagos tells us more about the factors that are behind the rise in abductions. We also go west to California, an American state where drought is a major problem, which has raised questions about the water intensive activity of growing almond nuts. The farmers are under pressure over complaints about how much water they use to grow the crop and incidents of pesticides killing bees, damaging the honey sector. Christine Gamperley, an almond farmer in the central valley, east of San Francisco, tells us about the challenges facing growers. Presenter: Russell Padmore | Producer: Gabriele Shaw
Twitter's board has adopted a ‘poison pill' policy to help prevent a potential hostile takeover, a day after Elon Musk offered to buy the platform. The BBC's North America tech reporter James Clayton tells us what the strategy is, and how it could prevent the Tesla CEO from acquiring a controlling stake in the social media giant. Plus, despite several international airlines having suspended flights to and from Russia following the invasion of Ukraine, Emirates president Tim Clark tells us why the Dubai-owned carrier has no plans to follow suit. We bring you a special report from the African island nation of Sao Tome and Principe. Once the world's largest cocoa exporter but now unable to compete with countries on the mainland due to the islands' relatively small surface area, Sao Tome's coffee industry is now pursuing a higher-value product in order to remain a key market player. And we tell you about the innovative technique which is already helping thousands of cocoa farmers in Ghana boost their incomes by up to 30%.