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- 4533 - Israel stops trade with Turkey
The Israeli Foreign Ministry is to reduce Turkish imports both to Israel and to the occupied Palestinian territories. It’s also appealing for sanctions against Turkey for violating existing trade agreements.
Also, in the programme, we look at Brazil’s plans to propose a global annual tax for billionaires at the G20 in July
Fri, 03 May 2024 - 4532 - Turkey says it is stopping trade with Israel over the war in Gaza
Last month, Ankara introduced partial restrictions citing being refused permission to drop aid into Gaza. Their response was to introduce restrictions on trade. Now, it appears that all imports and exports from Israel have been blocked. The country’s Foreign Minister, Israel Katz said this was "how a dictator behaves" "and they will lose."
Also, in the programme, we look at Pandemic-era fitness darling Peloton is showing more signs of trouble, as the CEO steps down and announcing staff redundancies.
Thu, 02 May 2024 - 4531 - What’s in a name?
The Co-op Live Arena is Europe's biggest, with a capacity of 23,500. But fans have reacted with shock and confusion after it called off its opening concert at the last minute. We're outside the venue - and will ask what it means for the Co-op - which has bought the naming rights for the venue - but doesn't run it.
Maersk, the world's second largest shipping company - says the Red Sea route might not be open for the rest of the year. Rahul Tandon asks what that means for the world's supply chain.
Plus we hear from Japan as it continues to tackle a demographic issue - amid criticism from US President Joe Biden.
Thu, 02 May 2024 - 4530 - US holds interest rates for sixth time
The US Federal Reserve says it needs greater confidence that inflation is easing before cutting interest rates. We get the latest from our correspondent in New York. The housing market is one of the industries most impacted by the higher cost of borrowing. We hear from buyers and sellers. And we have an exclusive interview with Pakistan's Finance Minister, Muhammad Aurangzeb, about the conditions the country has to meet after taking a loan from the International Monetary Fund.
Wed, 01 May 2024 - 4529 - Pakistan’s Finance Minister says he wants IMF bailout package to be the last
Pakistan’s Finance Minister Muhammad Aurangzeb exclusively speaks to World Business Report about the latest and 24th International Monetary Fund bailout for the country - and says it should be its last.
In this extended podcast version of the interview with Mr. Aurangzeb, he talks to Will Bain about the steps he thinks are necessary for Pakistan to achieve economic stability.
The country's Prime Minister Shehbaz Sharif has previously said the disbursement of $1.1 billion by the IMF will help the country achieve that, amid discussions for a new loan programme. The funding was the second and final tranche of Pakistan's $3 billion standby arrangement with the IMF which it secured last summer to help avert a sovereign default.
Also, in the programme, we look at how the risk of flooding or landslides are affecting people living in Kenya.
Wed, 01 May 2024 - 4528 - Binance founder sentenced to 4 months in jail
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.
Wed, 01 May 2024 - 4527 - Zimbabwe launches a new currency backed with gold
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.
Tue, 30 Apr 2024 - 4526 - The G7 agree to kill coal by 2035
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.
Tue, 30 Apr 2024 - 4525 - US-China relations: How will it affect businesses?
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.
Fri, 26 Apr 2024 - 4524 - Blinken & Xi Jinping in trade talks
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.
Fri, 26 Apr 2024 - 4523 - US economic growth slows but inflation grows
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.
Thu, 25 Apr 2024 - 4522 - Venice begins charging visitors an entrance fee
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.
Thu, 25 Apr 2024 - 4521 - US warns China about supplying arms to RussiaWed, 24 Apr 2024
- 4520 - UK passes bill to send asylum seekers to Rwanda
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.
Tue, 23 Apr 2024 - 4519 - EV price war hits global market
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.
Mon, 22 Apr 2024 - 4518 - The future of TikTok in the US
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.
Fri, 19 Apr 2024 - 4517 - Will Congress pass the long-awaited Ukraine aid bill?
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.
Fri, 19 Apr 2024 - 4516 - Google's controversial dismissals over Gaza
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.
Thu, 18 Apr 2024 - 4515 - Official corruption... when ships are in port
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.
Thu, 18 Apr 2024 - 4514 - Boeing faces fierce scrutiny
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.
Wed, 17 Apr 2024 - 4513 - US election 2024: Is it worth it for campaign backers?
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.
Wed, 17 Apr 2024 - 4512 - Is the American economy out of the woods?
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?
Tue, 16 Apr 2024 - 4511 - Global economy ‘resilient’ but may be headed for trouble
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.
Tue, 16 Apr 2024 - 4510 - Tesla announces workforce redundancies
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.
Mon, 15 Apr 2024 - 4509 - The costs of conflict for business in Israel
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.
Mon, 15 Apr 2024 - 4508 - Inside Ukraine’s energy crisis
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…
Fri, 12 Apr 2024 - 4507 - The challenge to produce vaccines in Africa
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.
Fri, 12 Apr 2024 - 4506 - The European Central Bank has held interest rates steady at a record high of 4%
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.
Fri, 12 Apr 2024 - 4505 - Vietnamese billionaire sentenced to death for $44bn fraud
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.
Thu, 11 Apr 2024 - 4504 - Cost of living shock: US Inflation is up
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.
Wed, 10 Apr 2024 - 4503 - EU court removes Russian oligarchs from sanctions listWed, 10 Apr 2024
- 4502 - How is the surging price of commodities affecting the global economy?
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.
Tue, 09 Apr 2024 - 4501 - March marks new global heat recordTue, 09 Apr 2024
- 4500 - TSMC expands US chip manufacturing in Arizona
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.
Mon, 08 Apr 2024 - 4499 - Yellen's China visit comes to an end
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.
Mon, 08 Apr 2024 - 4498 - Rare earthquake shakes New York
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.
Fri, 05 Apr 2024 - 4497 - McDonald's buys back 225 outlets in Israel
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.
Fri, 05 Apr 2024 - 4496 - Gucci splashes out on a new $1.3bn office in MilanThu, 04 Apr 2024
- 4495 - US Treasury Secretary Janet Yellen to meet Chinese government officials
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.....
Thu, 04 Apr 2024 - 3305 - Review of the year - 2021
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.
Fri, 24 Dec 2021 - 2760 - Review of the year - 2020
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.
Fri, 25 Dec 2020
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