World Business Report

Changpeng Zhao, the founder of the giant crypto exchange, Binance, will spend 4 months in a US prison. He had pled guilty to charges of enabling money laundering at the exchange. Ed Butler asks what it means for crypto.

Meanwhile, in Argentina, a series of key reforms were passed which could spell privatization of a dozen companies. We speak to a former presidential candidate who says the reforms will spell trouble.

Finally, Beijing, Brussels and Washington are preparing for a major showdown over electric cars.

Zimbabwe introduces a new currency, the ZiG, to tackle its high inflation.

The Argentinian parliament has approved sweeping austerity measures which has triggered mass protests. We also hear from Ecuador, a country which in the late 90s successfully dealt with high inflation.

And we hear from Bumble CEO Lidiane Jones on women in tech and the path to success.

Energy ministers from the Group of Seven (G7) major democracies have agreed to phase out the use of coal power by 2035, putting a critical timeline on the plans first announced last year in Dubai. Also in the programme, Ed Butler looks at the new spending cap set to apply to football teams in the English Premiere League. And, we hear about the retreat of the grocery courier firm Getir from Europe and the U.S, and the future of the sector.

America's top diplomat and the Chinese president have held talks in Beijing as both sides seek to stabilise relations. US Secretary of State Antony Blinken has warned that Washington will act if China does not stop supplying Russia with items used in its assault on Ukraine.

Also, in the programme, Roger Hearing finds out how Egypt authorities dealing with the inflation and who created World biggest 3D printer.

Could the US Secretary’s visit to Beijing further improve the US-China relationship that still crackles with tension and suspicion? Devina Gupta speaks to Prof Henry Gao, an expert in global trade at Singapore Management University.

Over to Haiti and it is day one of the new interim government there which is trying to crackdown on gang violence we speak to the boss one of the main telecom companies - about what it is like to do business in this chaos and his hopes for stability.

Messaging app WhatsApp says it will leave India if it is forced to break its end-to-end encryption, that is mandated by India's 2021 Information Technology Rules.

Finally – what does it mean for a female flight attendant to get a CEO position for an Asian airline company? We find out how this story made headlines in Japan.

The US economy grew by less than forecast in the first three months of this year but inflation gathered pace, which could delay an interest rate cut.

Official figures revealed the economy expanded at an annualised rate of 1.6%, far below expectations and the growth seen in the final months of 2023.

Meanwhile, inflation, which measures the pace of price rises, has increased.

Day trippers will have to pay €5 to visit the famous Italian city. The local government wants to discourage low-budget tourists who don't stay overnight in Venice. We get the latest. Mining giant BHP has proposed a buyout of Anglo American. The $39bn deal would forge the world's biggest copper miner in times when the price for this mineral is soaring. We look into the details. And we hear about the challenges US businesses operating in China are facing.

The US Secretary of State Antony Blinken travels to Beijing in an attempt to curb support for Russia's invasion of Ukraine. We look into the details. Boeing reports results after a difficult quarter, and what happens to movies once they have been taken down from streaming platforms? We find out.

The British government wants to deter migrants from crossing the English Channel illegally on small boats. We get the latest. Greece has come a long way from the sovereign debt crisis it fell into in 2009. But challenges still remain, we hear about them. And we take a look at Elon Musk's latest row, this time, with Australia's Prime Minister, Anthony Albanese.

Tesla has cut its prices again in a number of major markets - including the US, China and Germany - as the electric car giant run by multi-billionaire Elon Musk faces falling sales.

The move comes after it reported a sharp fall in its global vehicle deliveries in the first three months of this year.

Also, Vishala Sri-Pathma finds out of why government military spending increased in all five geographical regions and why Northern Ireland and its economy are betting big on film, TV and gaming.

US lawmakers could vote on a bill that corners the app's owner ByteDance with a stark choice: to sell or be banned. Also in the programme, the French government addresses shrinkflation concerns with a new rule that will require stores to tell customers when a product becomes smaller but its price stays the same or increases. And we look into why sales of wine have dropped in China.

After months of delay, the US House of Representatives appears poised to hold a vote this weekend on tens of billions of dollars worth of American military aid for Ukraine and Israel. The Republicans in Congress have been holding out on this issue for many months - tying it to immigration reform - but now House leader Mike Johnson says he's determined to bring the matter to a vote.

Also, Ed Butler finds out why the number of bitcoin being produced will halve and what is happening in India as its general election begins.

The tech giant terminates 28 staff who protested against a contract signed with the government of Israel. We get the latest. India's Bombay Stock Exchange warns investors against a deepfake video of its chief executive officer. We find out why. And we take a look at what is happening inside the board of LVMH now that the chairman and CEO, Bernard Arnault, has integrated two more of his children.

The UN has estimated the global Cost of Corruption at some 5% of the world's Gross Domestic Product.

Today our sister programme Business Daily has been looking at this - specifically through the lens of shipping, and the demands of routine bribery facing sea-farers. Many of the goods we buy and consume have at some stage reached us by cargo ship... But for the seafarers who make that happen, it’s not always an easy process. Ruth Alexander of Business Daily and The Food Chain tells more about this.

Also, we hear from a very upset passenger, who's been trying to fly away from the destroyed by floods airport in Dubai. And we find out why a coalition of Nestlé shareholders is demanding to increase healthy food sales.

A Boeing engineer has told US lawmakers that he was harassed and threatened after he raised concerns about the safety of the company's planes. We hear from engineers and their claims.

President Biden is set to call for a tripling of US tariffs on steel and aluminium. His demand for tariff hikes comes as he tackles fraught relations with China.

Should players be excluded from betting on a game? The jury’s out for one NBA player who was given a lifetime ban by the NBA for breaching gambling rules.

worrying reports for Donald Trump's campaign of what may be an impending cash shortfall. The Financial Times has calculated that he's raised $75mn less for his presidential bid than Joe Biden in recent months, and has 270,000 fewer unique donors than he had at the same stage of his White House run four years ago.

So what difference does money make when it comes to winning US elections?

Also, Ed Butler finds out why German sportswear giant Adidas hits huge profits from sales its Yeezy collection and what will be the cost of reconstruction of the Copenhagen's 17th-century old Stock Exchange.

Economic growth in the US will be stronger than expected – but what does this mean for small businesses? We hear from an American business owner about the impact of an economic boom coinciding with inflation.

Also, a UK legislation to ban cigarette sales leads to questions being raised on how tax duty for those specific sales will be recovered.

Plus, is the return of investment worth much for countries hosting global events? It has been estimated that in preparation for the Olympic games France has spent 9 billion euros and forcing additional contributions from the government – but does the investment reap the rewards?

The global economy is set to grow 3.2% this year, slightly more than previously expected, according to the International Monetary Fund. It’s optimistic assessment in today's keenly awaited Global Growth forecast, suggests the world is heading for a soft landing rather than a crash over the next few months. Ed Butler talks to a former deputy director of the IMF.

He also finds out what matters to young Indian voters as the country’s election gets closer, and talks to a Kenyan doctor about why he’s been joining the strikes for a month.

Redundancies are expected after Tesla announces it will lay off more than 10% of its global vehicle workforce.

Also how has a rise in consumer spend affected America’s economy which is grappling with inflation?

Plus, the truth behind truth social continues as we look how Trump Media shares have been falling.

And finally, is America’s immigration system broken? Our reporter Erin Delmore has been looking at the political and bureaucratic issues adding to America's labour shortage.

Israel's economy is struggling in the wake of conflict with Hamas in Gaza. We hear from a start-up in the EV sector how tensions between Iran and Israel will affect businesses.

Also, presenter Will Bain, looks at why Tesla is set to lay off more than 10% of its global electric vehicle workforce. And how Japan’s biggest brewer Asahi plans to expand its production of zero and low-alcohol drinks.

On today’s program we find out why Ukraine is suffering its worst power crisis since Russia launched its invasion. Also, find out why South America’s largest economy is grappling with high inflation. Plus, activists have begun a hunger strike on the island of Tenerife, in protest at what they see as the destructive growth of tourism on the Canary Islands. And finally, find out how an American Farm Grows $1,700-Per-Pound White Truffles…

Moderna has halted plans to build a Covid-19 plant in Kenya alleging the demand after the pandemic has fallen dramatically. Rahul Tandon explores the different challenges that keep Africa missing out on investments to develop vaccines and the consequence this has on the population. And shareholders of United States Steel will vote on a planned takeover of the company by a Japanese firm. We hear why not everyone's happy with the deal.

As the European Central Bank holds interest rates steady at a record high of 4%, Vivienne Nunis asks whether the EU is ahead of the US in the race to reduce interest rates.

We examine the economic relationship between Japan and the United States - as the Japanese prime minister Fumio Kishida addresses the US Congress.

Plus in another Japan-US relationship issue, we talk about Shohei Ohtani, a baseball, a home run, and a woman who feels she's lost out on $100,000 as a result.

Property tycoon Truong My Lan has been found guilty of embezzling from one of the country's largest banks for 11 years, and given a rare death sentence. We get the latest from our correspondent. And as the political crisis deepens in Myanmar, we hear the latest report from the United Nations which says the middle classes in the nation are at risk of being wiped out.

Consumer prices in the US rose faster than expected last month. The CPI measure of inflation rose 3.5% over the 12 months to March, up from 3.2% in February, the US Labor Department said.

How will the new law restricting abortion in Arizona affect the state’s clinics?

Plus UK Paralympic legend Baroness Tanni-Grey Thompson tells us what she makes of the news that athletes will soon be paid for winning an Olympic gold medal.

The EU General Court removed Mikhail Fridman and Petr Aven off an EU sanction list

Commodities - the raw materials that power business around the globe - are surging in price. And that suggests investors betting on a prolonged expansion—and a potential rebound in inflation. The S&P GSCI, which tracks commodity prices has advanced 12% this year. Copper and oil have gained more than 10% and 17%, respectively. Gold is also posting fresh records, rising 13% to $2,332 a troy ounce. So what's going on?

Also, in the programme, the presenter Roger Hearing finds out why some politicians have pushed back against New York City’s congestion charging plan.

As the impact of climate change expands across the world, a top European court issues the first ruling against a country for climate inaction. We get the latest from our correspondent. And we go to Spain to hear why the government is scrapping its golden visa scheme.

The world's largest chip maker, TSMC - The Taiwan Semiconductor Manufacturing Company, has announced it will take advantage of generous US subsidies to build cutting-edge tech in Arizona. The Biden administration has committed more than six billion dollars in subsidies and five billion in possible loans to support the plan.

Also, in the programme, the presenter Sam Fenwick finds out what it's like to experiencing complete darkness a rare total solar eclipse.

As U.S Treasury Secretary, Janet Yellen, wraps up her four-day visit to Beijing, Rahul Tandon looks at what the trip could mean for future relations between the U.S and China.

Tens of thousands of people in the gaming industry sector have lost their jobs in the last few months. Reporter Izzy Greenfield explains what’s going on.

And as North America waits to watch a total solar eclipse we hear from the business community in Rochester, New York, how the event has delivered a ‘tourism boom’ for the local economy.

A rare earthquake that struck New York City has swayed landmarks and cracked roads. Roger Hearing has been speaking to a stockbroker who describes the moment of impact. We also hear from the co-director of the Global Resilience Institute Dr Daniel Aldrich about whether New York is prepared to withstand a quake of a larger magnitude.

Also on the program discover why emerging economies joining US and Europe in shielding domestic manufacturers from a rising tide of Chinese imports.

And finally we find out why there’s been a sharp rise in the sale of horror novels around the world.

McDonald's has announced its buying restaurants back, and bringing them in house - after the former franchise owner gave free meals to Israeli soldiers.

That decision sparked a McDonald's boycott in many other countries across the world.

We find out what happens when global brands and global politics collide.

Gucci splashes out on a new $1.3bn office in Europe’s biggest property deal since 2022

US Treasury Secretary Janet Yellen stresses the importance of maintaining trade relationships and dialogue between the nations, as she spoke to reporters in the southern Chinese city of Guangzhou. China accuses the West of feeling threatened by their cheaper exports to developing economies, but Yellen stands by her assessment that China is saturating the markets, driving down competitors.

Also, in the programme, we will talk about Google and how its search engine is powered by artificial intelligence.....

We look at what the effects of chip suspension mean for Asia's semiconductor supply chain. Plus, Roger Hearing speaks to the executive vice president of Taiwan Residential Earthquake Insurance Fund to highlight the estimated cost of damage so far.

Also, Zimbabwean president declares state of disaster due to drought

And finally, Disney secures its happy ever ending after convincing shareholders they’re heading in the right direction

The devastating earthquake with a 7.2 magnitude has killed at least nine people and damaged buildings, sparking evacuations at microchip plants. The country is a huge player in the world of microchips - with many large factories supplying the likes of tech giant Apple and AI supremo Nvidia. Those factories however have had to shut their doors temporarily over fears of the aftermath of this devastating earthquake, which has meant a halt in production.

Also, in the programme, we will talk about rising cocoa price and how will it affect farmers.

A World Bank and UN joint report estimates costs to rebuild Gaza’s critical infrastructure to be $18.5 billion dollars – we discuss how it could be funded. Plus have drivers fallen out of love with electric cars? Tesla and BYD report sale losses. We also look at why hybrid work is becoming a popular choice for employees and Disney faces a showdown over its future against billionaire Nelson Peltz.

There was good news yesterday about Chinese manufacturing going up, but less good news toay for Beijing about its beleaguered property sector: the property development giant, Country Garden, has suspended trading of its shares in Hong Kong after delaying publication of its annual results. The firm said last week it needed more time to collect information as it restructures its debts. It defaulted on its overseas debt last year. Also, in the programme, the presenter Roger Hearing will talk about UK and US AI agreement and will find out why South Asia is producing not enough jobs for young professionals.

A transportation business in Baltimore tells us about how they may have to take a hit to sustain their business as the Baltimore bridge is repaired.

Also, the truth behind ‘Truth Social’ – we find out how shares in the business have plunged by 23% after reporting less than a million dollars in revenue for the fourth quarter of last year.

Plus, we’ll be looking at how the UK has benefitted from the introduction of a minimum wage, 25 years after it was introduced.

The big event of 2021 that will shape economies all over the world for decades to come was the COP 26 climate conference in Glasgow in November. The meeting saw a deluge of promises, but what was actually achieved? Martin Webber speaks to Tim Gould, chief energy economist at the International Energy Agency and economist Irwin Stelzer, from the Hudson Institute in the United States.

It was another boom year for the pharmaceutical industry as it crafted the vaccines that have saved so many lives. Of the 8 billion coronavirus vaccinations worldwide, one billion have been delivered by the US logistics company, UPS. We hear from Wes Wealer, President of UPS healthcare.

And small business owners have had a bleak time for much of the past year. But many of those that have survived now feel optimistic. We hear from the owner of the Aroma speciality coffee shop in Bologna in Italy, Cristina Caroli, about her year.

Covid-19 is set to prompt radical long term changes to how we live and work, so what lessons can be learnt when we eventually emerge from the pandemic? Could the changes in the way we work herald higher productivity and happier people in the future?

We hear the stories of the people who managed to thrive during a very difficult year, including the milkman who saw a boom in deliveries and the dancer who found work in South Korea when the London stage went dark.

Martin Webber is joined by Professor Devi Sridhar who holds the Chair of Global Public Health at the University of Edinburgh; economist Roger Bootle, of Capital Economics; Robert Reich, former Labour Secretary under President Clinton; Tomas Philipson, who was Chair of the Council of Economic Advisors under Mr Trump; and actor Thomas Inge who is currentl starring in the musical Cats in South Korea.