Money Talks
2,203 episodes - English - Latest episode: 11 months ago -Dedicated to helping our audience navigate the bumpy economic road ahead. With in-depth reports and analysis, Money Talks makes the news your business.
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Albanian farmers turn to coffee grounds to enrich soil
August 26, 2022 15:27 - 2 minutes VideoAs in many parts of the world, Albania's agricultural sector has been battered by rising fuel and fertilizer costs. With the pandemic and the Ukraine conflict disrupting supply chains, farmers are now turning to more traditional methods to enrich their soil. Tayyibe Aydin reports. #Agriculture #Fertilizer #Coffee
Economic consequences of Russia’s attack on Ukraine
August 26, 2022 15:21 - 10 minutes VideoIt's been six months since Russia began its attack on Ukraine. Ukrainian civilians have paid a heavy price: more than 5,500 are confirmed dead, and the true number is believed to be in the tens of thousands. The economic cost has also been great. The destruction has already cost Ukraine at least $113B, according to the Kyiv School of Economics. Ukrainian agricultural production and other countries that depend on it have been hit hard. Even with grain ships on the move again, the global food c...
UK Felixstowe port workers strike over shrinking real wages
August 26, 2022 15:07 - 2 minutes VideoWorkers at the Port of Felixstowe in Eastern England which handles almost half the UK's container trade, began an eight day strike over pay at the weekend, threatening to add more disruption to the British economy, after the shocks of Brexit and the COVID-19 pandemic. Lape Olarinoye reports. #UnitedKingdom #Felixstowe #Strike
Twitter whistleblower alleges culture of 'willful ignorance'
August 26, 2022 15:02 - 4 minutes VideoTwitter has been in legal battles with Tesla's CEO Elon Musk for months after the tech mogul chose to back out of a takeover deal worth $44B. A new scathing report from a high ranking former executive at Twitter may give Musk the ammunition he needs to successfully pull out. Malik Fuda has more. For more on this, we spoke to Wedbush Securities Managing Director Daniel Ives. He says this changes the trajectory of the legal battle between Elon Musk and Twitter. #Twitter #ElonMusk #PeiterZatko
Further rate hikes flagged in latest ECB minutes
August 26, 2022 10:19 - 4 minutes VideoEuropean markets are set for a higher open on Friday as global attention turns to US Federal Reserve Chairman Jerome Powell's speech at Jackson Hole economic symposium later today. Many analysts expect the chairman to adopt a hawkish tone and reiterate the Fed's commitment to dragging inflation back toward target. Meanwhile, the ECB's July meeting minutes were released, and they show that policymakers are increasingly concerned that inflation is getting entrenched, even as the risk of a reces...
Germany launches energy conservation measures
August 25, 2022 09:34 - 4 minutes VideoGermany's public buildings are to become cooler and streets darker, this winter, under energy-saving measures approved by the cabinet, as part of efforts to protect the nation's gas reserves and reduce its dependency on Russian gas. The new rules come into force in just over a week's time and will initially remain in place for six months. For more on Germany’s energy policies, we spoke to Susannah Streeter, who is an investment analyst at Hargreaves Landsdown in Bristol, UK. #Germany #Ener...
Russia to step up fuel exports to Asia as EU sanctions tighten
August 24, 2022 10:04 - 3 minutes VideoRussia may step up fuel exports to Asia in a bid to find alternative markets as European sanctions tighten, according to oil and gas consultancy FGE. More Russian-made naphtha, a fuel primarily used to make plastics, is likely to head into hubs such as Singapore and Fujairah from February when EU sanctions kick in. Six months into the conflict, costs are really piling up for Russia, disposable income of households has significantly dropped, inflation is higher than wage growth and according t...
Oil prices rise after Saudi says OPEC could cut output
August 23, 2022 08:59 - 4 minutes VideoOil prices edged up on Tuesday, after Saudi Arabia warned that OPEC could cut output to correct a recent drop in oil futures. Meanwhile, Europe faces fresh disruption to energy supplies due to damage to a pipeline system bringing oil from Kazakhstan through Russia, adding to concerns over a plunge in gas supplies. For more on energy markets, we spoke to David Madden, who is a market analyst at Equiti Capital in London. #OilPrices #SaudiOil #EnergySecurity
Belgian electricity prices set new record
August 22, 2022 15:23 - 2 minutes VideoAn expected surge in UK energy prices this winter is being described as a national emergency, posing at least as great a financial threat as the coronavirus pandemic. The upcoming increase is predicted to push a majority of households into fuel poverty, and put a strain on budgets that could hammer industries like hospitality, travel and retail. In Europe, things aren't getting any better. The cost of electricity in Belgium reached a new record on Sunday, thanks to a lack of wind and the expe...
China trims lending rates, one week after surprise cuts in rates
August 22, 2022 08:52 - 3 minutes VideoChina trimmed its key lending rates on Monday, only one week after it lowered two of its key interest rates. The surprise moves aim to revive credit demand, and fire up the economy, hurt by both extended COVID-19 lockdowns and property debt problems. Meanwhile, European markets remain focused on the Jackson Hole symposium where Jerome Powell and other central bank leaders will share their views on global growth, inflation and imminent monetary policy responses. For more on this, we spoke to ...
Natural gas prices soar in EU as supplies from Russia plunge
August 19, 2022 16:07 - 11 minutes VideoIn the EU, energy costs are spiraling to record levels. Supplies from Russia are dwindling after the bloc's tough stance against Moscow over its attack on Ukraine. And domestic energy sources, like nuclear power and hydroelectric plants are struggling to raise their output, because of a severe drought in the region. European governments are setting aside funds to subsidize domestic and commercial consumers. Meanwhile, the UK plans to dole out cash handouts to shield its most vulnerable consum...
Ordu emerges as Türkiye's biggest honey producer
August 19, 2022 15:50 - 2 minutes VideoTürkiye's Black Sea region is renowned as a paradise for nature lovers. It also produces a variety of different fruits and nuts for export and domestic consumption. But some Black Sea cities are running on a liquid gold that's kept them at the top of the honey market for the last five years. Rumeysa Codar reports from Ordu province in the north of the country. #Türkiye #Honey #Beekeeping
Salt production skyrockets in France through hottest summer
August 19, 2022 15:05 - 2 minutes VideoRivers and lakes are drying up in Europe as the continent suffers under its hottest summer in years. It's one of the extreme consequences of the climate crisis that scientists have been warning about for decades. But these conditions have produced a small group of winners that's thriving when the rest of the agriculture sector struggles to survive. Paolo Montecillo has more. #France #Heatwave #Salt
Market Movers: Retailer earnings plunge amid shrinking disposable income
August 19, 2022 15:02 - 2 minutes VideoIt wasn't a good second quarter for retailers. Some have really seen a sharp reversal of fortunes during the first half of this year. After posting quarter after quarter of eye-popping sales during the COVID-19 pandemic. Now they're seeing clothing, coffee makers, lamps and more goods linger on the shelf and then get kicked to the clearance rack. #RetailerEarnings #Walmart #Target
Competition among streaming giants heats up post-pandemic
August 19, 2022 15:00 - 4 minutes VideoMoving on now to the US, where the streaming landscape is going through a major shakeup. Industry pioneer Netflix recently lost its lead as the biggest name in the game to Disney, which now has more paying subscribers around the world. Now the company that owns franchises like Star Wars, Marvel, and Pixar on top of its already-formidable library could start leaning on other popular assets to solidify its dominance. Daniel Ives is managing director at Wedbush Securities. He says sports conten...
Gas prices in Europe edge higher as energy crisis pounds the region
August 19, 2022 10:19 - 3 minutes VideoEuropean natural gas futures extended their gains to record-highs, as an energy-supply crunch continues to batter the region, amid signs that fuel is becoming too costly for industrial use and power generation. Prices are about 11 times higher than they usually are for this time of the year, and costs are spiraling for households and businesses, at their fastest pace in decades. For more, OANDA's senior market analyst Craig Erlam joined us from London. #Europe #EnergyPrices #NaturalGas
Germany set to slash taxes on energy consumption
August 18, 2022 13:55 - 4 minutes VideoGerman Chancellor Olaf Scholz says his government is slashing taxes on energy consumption in a bid to rein in rising prices. Facing off with Russia over its attack on Ukraine, is coming at a steep cost for the European Union. Its energy supplies are under threat, and the bloc is rushing to import liquefied natural gas to make up for a reduction in shipments from Russia. For more on this, we were joined by the CEO of Meyer Resources, Cornelia Meyer from Bern. #Germany #EnergyTaxes #OlafScholz
Oil prices hit six-month lows after drop in US stockpiles
August 17, 2022 09:29 - 4 minutes VideoOil prices are slighty recovering after hitting a six-month low, as a larger than expected drop in US oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by the prospect of a global recession. Investors also awaiting clarity on talks to revive the 2015 Iran nuclear deal. Oil supply could rise if Iran and the United States accept a proposal from the European Union, which would remove sanctions on Iranian oil exports. For more on oil market, we had Susannah Str...
Oil prices slump on optimism of fresh supply from Iran
August 16, 2022 09:29 - 3 minutes VideoOil prices have slumped thanks to hopes of fresh supply becoming available in the market. The potential revival of the Iran nuclear deal would allow Tehran to openly sell its substantial reserves to international customers. And there was good news out of the US, with regulators there saying shale oil production is expected to rise to a two-year high in September. But prices are also falling due to the expectation of weakening global demand. For more on supply and demand, we had Danni Hewson ...
China's central bank cuts key lending rates to boost economy
August 15, 2022 10:13 - 3 minutes VideoChina's central bank has unexpectedly cut its key interest rates as it aims to support an economy weighed by COVID lockdowns and a deepening property downturn. It's the second time the People's Bank Of China cuts rates, this year. For more on China's economy, we had David Madden, who is Equiti Capital market analyst in London. #China #POC #InterestRates
Drought worsens Europe's energy crisis
August 15, 2022 08:39 - 6 minutes VideoIn the EU, plans to reduce reliance on Russian oil and natural gas, are going up in steam. Several member countries are trying to raise power production from domestic coal, hydro and nuclear power plants. They want to ensure adequate supplies before the winter, but an unusually hot and dry summer is worsening the bloc's energy crisis. Mobin Nasir reports. For more on this, Taha Meli Arvas joined us on the set. He's Adjunct Professor of Finance at Bogazici University. #UnitedStates #China #S...
New tech makes realistic faces possible in Metaverse
August 15, 2022 08:33 - 1 minute VideoThe idea of a 'metaverse', a virtual reality space where users can interact with each other in a computer-generated environment, which has been the stuff of science fiction novels for decades. And creating such a space for mass adoption in the real world has been slow going. But new technologies have made it easier for many to envision a new way to work and play. Sarah Balter has more. #Metaverse #VirtualReality #AvatarFaces
Kenya’s president candidates pledge income support for jobless youth
August 15, 2022 08:30 - 4 minutes VideoThe votes have been cast and counting is underway. And in just a few days, Kenya will have a new government. It was a hotly contested ballot between the two front runners; Deputy President William Ruto and opposition leader, Raila Odinga. And a host of economic and social challenges await the winner. For more on Kenya's election and the country's economy, we spoke to Agnes Gitau, who is the managing partner of GBS Africa. She says one of Kenya's main challenges that next president has to tac...
Market Movers: Semiconductor competition heats up
August 15, 2022 08:14 - 2 minutes VideoThis week, the year-long chips war between the US and China has taken a new turn. President Joe Biden on Tuesday signed a bipartisan bill that aims to strengthen US competitiveness with China by investing billions of dollars in domestic semiconductor manufacturing and science research. The bill includes more than $52B for US companies producing computer chips, as well as billions more in tax credits to encourage investment in semiconductor manufacturing. #UnitedStates #China #Semiconductor
US consumers get relief as inflation moderates in July
August 12, 2022 15:08 - 5 minutes VideoUS consumer prices rose 8.5% last month, compared to the same period last year. That's still historically elevated, but it was slower than June's increase of more than 9%, which was the highest in more than 40 years. Across the Pacific in China, rising inflation has been a lot less severe. Consumer prices there rose just 2.7% in July. That's the highest in two years, but still much lower than what other major economies have been reporting. The problem for Beijing is that moderate price increa...
OPEC+ oil cartel missed daily production target in July
August 12, 2022 11:56 - 4 minutes VideoThe world's top oil producers continue to pump out less than they've promised, putting immense strain on economies big and small. According to a survey by data firm Argus, the international oil cartel OPEC+ was able to raise production by half a million barrels a day in July. But almost all of those extra barrels came from Saudi Arabia, the group's top producer and de facto leader. And as a whole, the alliance's output was still, on average, almost 3M barrels short of the daily target. Meanw...
US consumer prices rose 8.5% in July, down from June's 9.1%
August 12, 2022 11:51 - 3 minutes VideoGlobal stocks are up across the board following the release of better than expected data out of the US. Consumer prices in the world's largest economy rose 8.5% in July. That's down from the previous month's increase of more than 9%, which was the highest in four decades. Naeem Aslam is the chief market analyst at AvaTrade in London. He gave us his take on the prospects for the US economy. #UnitedStates #Inflation #StockMarket
China inflation accelerated to two-year high of 2.7% in July
August 10, 2022 08:55 - 3 minutes VideoAsian markets are deep in the red after China reported that consumer prices rose at their fastest pace in two years. Inflation in the world's second largest economy accelerated to 2.7% in July. That's relatively low in global standards, but it's the most since July 2020. It shows that China is dealing with the effects of persistent supply chain bottlenecks and higher oil prices. But it would have been even higher if not for pandemic-related lockdowns keeping down consumer spending. For more...
Meme-stock rally returns to Wall Street, lifting struggling firms
August 09, 2022 09:51 - 3 minutes VideoHedge fund managers beware, because the meme stock frenzy is back big time. More than a year since video game firm GameStop became centre of financial markets, retail investors on the social media platform Reddit have found their new favorite. This time, they're buying up shares in Bed Bath and Beyond, an American big-box chain that sells blankets, towels and candles. The original meme-stock darling GameStop also rose almost 9%, while cinema chain AMC was up 13%. For more, we were joined by...
Crude oil, natural gas prices slump as investors fear recession
August 08, 2022 11:26 - 3 minutes VideoOil prices have slumped to start the week amid persistent fears that major economies are heading for another recession. The international crude benchmark Brent has recovered slightly after going down to $94 a barrel. Natural gas prices have also fallen by more than 2% on the prospect of weaker demand from places like China. For more on energy, we were joined by Exinity Group chief market analyst Han Tan. #Oil #NaturalGas #Energy
Market Movers: Sharing economy, e-commerce earnings
August 05, 2022 15:47 - 2 minutes VideoA stark reversal of fortunes for the sharing economy this quarter, and that is despite all the flight cancellation chaos we've seen this summer. Now that travel has returned in the middle of this year, it seems that consumers have jumped back in the sharing economy with both feet in the second quarter. But there's a little more trouble ahead for e-retailers this season as high inflation is hitting consumers virtually all over the world. #MarketMovers #SharingEconomy #ECommerce
China gives green light to driverless taxis
August 05, 2022 15:44 - 1 minute VideoOne of China's largest cities has given the green light for driverless taxis to start picking up paying customers. It's the biggest test for the technology to date, because these cars will be operating in a crowded metropolis of 18M people. If it succeeds, the experiment will help other major urban centres hop on board. #China #DriverlessTaxi #RoboTaxi
Turkish hazelnut pickers celebrate start of fruitful harvest season
August 05, 2022 15:22 - 2 minutes VideoIf you have ever enjoyed some Nutella, there is a very good chance that you have consumed Turkish hazelnuts. Türkiye is the world's biggest exporter of hazelnuts and the city of Giresun in the Black Sea region has emerged as a hub for growers, processors and sellers. As much of the city's economy relies on the dry fruit, the harvest season holds immense importance for residents. And as Rumeysa Codar reports, they celebrate it with music and other festivities. #Giresun #Hazelnut #Agriculture
India's 5G spectrum auction attracts $19B in bids
August 05, 2022 15:20 - 6 minutes VideoIndia's 5G spectrum auction has ended with the country's three biggest mobile service providers and a new entrant bidding a combined 19 billion dollars to upgrade their networks. India's government expects to begin rolling out the 5G network in October, significantly increasing internet download speeds. Smita Sharma reports from New Delhi. For the details, we spoke to business strategy specialist Harish Bijoor in Bengaluru. #India #5G #InternetSpeed
OPEC+ hikes output by 100,000 barrels a day, equivalent to 0.1% of global consumption
August 05, 2022 15:18 - 8 minutes VideoOPEC+, the international alliance of oil exporters led by the Saudis, raised its output target for September by a tiny 100,000 barrels a day. That's the equivalent of about 0.1% of what the world consumes every 24 hours. But the bigger issue isn't what the cartel promises. It's what it actually produces. OPEC+ has fallen almost 3M barrels short of its committed daily output level. For more on oil market, we were joined by energy industry analyst Neil Atkinson and economist Taha Meli Arvas. ...
Oil prices extend losses on demand worries
August 05, 2022 10:50 - 4 minutes VideoOil prices extended losses on Friday, after hitting their lowest level since before Russia's February incursion of Ukraine in the previous session. That's as the market fretted over the impact of inflation on global economic growth and demand. WTI is now trading at $89 a barrel, Brent at $94. Analysts think that commodities are starting to price in the possibility of a 'stagflation era', which would be an era characterized by low unemployment and high inflation. For more we had Danni Hewson...
Oil companies' profits have nearly doubled compared to last year
August 04, 2022 08:47 - 4 minutes VideoOil prices are rebounding today, after dropping to their lowest level in months on weak US demand. US crude oil inventories rose unexpectedly last week as exports and domestic demand weakened. On the supply side, OPEC and its allies agreed to a small increase in their collective output, equal to about 0.1% of global oil demand. United Nations Secretary-General Antonio Guterres has slammed the "grotesque greed" of energy majors. He's urging governments to "tax excessive profits" and use the pr...
China imposes economic curbs on Taiwan over Pelosi visit
August 03, 2022 09:15 - 3 minutes VideoChina has halted some trade with Taiwan in retaliation to the visit of United States House Speaker, Nancy Pelosi to the island. Beijing says it’s stopped importing fish and fruits from Taiwan, while exports of natural sand have also been suspended. Beijing has often targeted Taiwan's agricultural industry for punishment over political issues. Meanwhile, chip maker TSMC says the global supply of semiconductors could be affected due to tensions between the world's two largest economies. For mo...
Asian markets fall sharply ahead of Nancy Pelosi's visit to Taiwan
August 02, 2022 09:28 - 2 minutes VideoFears of rising tensions between the world's two largest economies have investors on edge across markets. That's as US Speaker of the House of Representatives, Nancy Pelosi is reportedly set to visit Taiwan. As a result, all markets in the Asia-Pacific region are in the red today. European futures are pointing to a lower open. #StockMarket #NancyPelosi #Taiwan
China's manufacturing output growth slower than expected in July
August 01, 2022 08:55 - 3 minutes VideoMainland China stocks are rising, along with most other Asia-Pacific indices on Monday, as a private survey on Chinese factory activity showed slight growth in July. The reading was better than China's official Purchasing Managers' Index released over the weekend, which showed a clear contraction in factory activity. For more on that, we were joined by Han Tan, who is the chief market analyst at Exinity Group. #China #Japan #Manufacturing
Lufthansa's ground staff on strike, demand pay raise
July 29, 2022 16:13 - 6 minutes VideoAs the cost of living is rising in Europe, so is strike action by public workers. In the UK thousands of railway workers have downed tools this week, pushing for higher wages to offset soaring inflation. And in Germany, a strike by ground staff forced carrier Lufthansa to cancel hundreds of flights, causing disruptions and frustrating holidaymakers keen to travel after COVID-19 lockdowns. Sibel Karkus reports from Berlin. For more on disrupted travel industry, Taha Meli Arvas joined us on se...
Weak consumer spending hit tech earnings
July 29, 2022 15:09 - 1 minute VideoThe global economic slowdown is not just impacting brick and mortar businesses. Tech giants that were beneficiaries of COVID-induced lockdowns are also now experiencing a slowdown in demand as consumers shy away from spending. #TechFirms #TechEarnings #Nasdaq
Egyptian farmers struggle to survive amid rising costs
July 29, 2022 15:04 - 2 minutes VideoAs the war in Ukraine enters its sixth month, global food supplies are running critically low. Egypt is one country that relies heavily on Russian and Ukrainian wheat. Egyptian farmers have ramped up production of the crop to cope with the shortage. But as prices of everything from seeds to pesticides rise, they are struggling to survive. Tayyibe Aydin reports. #Egypt #Agriculture #Food
US economy in recession after second quarter contraction
July 29, 2022 15:00 - 8 minutes VideoData show US GDP shrank just under 1% in the three months to June, compared to the same quarter last year. That follows a larger contraction in the first three months of the year. Most economic literature will tell you that two consecutive quarters of decline means a technical recession. The state of the US economy will have broad implications for the rest of the world. That's according to the IMF's updated World Economic Outlook released this week. It slashed its forecast for global growth, ...
Market Movers: Energy prices keep soaring
July 29, 2022 14:52 - 2 minutes VideoEnergy prices have been soaring all week, due to a variety of factors. Natural gas contracts in Europe are trading at historic highs and oil prices also firmed. Russia is once again, restricting the supply of natural gas to Europe. Flows through the Nord Stream 1 pipeline fell to about a fifth of normal capacity on Wednesday. Meanwhile, oil producers such as Saudi Arabia are already pumping at their maximum capacity, and prices are still rising. They've been buoyed by lower crude inventories ...
US economy disappoints with 0.9% contraction in second quarter
July 29, 2022 13:00 - 4 minutes VideoEurozone GDP grew 0.7% in the second quarter of the year. That beat expectations, and follows a disappointing report out of the US overnight. The world's largest economy shrank by 0.9% in the three months to June. That follows a first quarter contraction of 1.6%, meeting the textbook definition of a recession. For more on that, we spoke to Craig Erlam, who is a senior market analyst at OANDA in London. #Recession #GDP #Eurozone
US Federal Reserve hikes benchmark rates by 75 basis points
July 29, 2022 12:05 - 3 minutes VideoThe US Federal Reserve has announced another big hike in interest rates, as monetary authorities seek to keep a lid on inflation. Consumer prices in the world's largest economy are going up at their fastest rate in four decades. In response, the American central bank has raised its benchmark by 75 basis points for the second consecutive meeting. We spoke to Russ Mould, investment director at AJ Bell. He gave us his reaction to the Fed's move. #UnitedStates #FederalReserve #InterestRates
IMF slashes global growth forecast, sees rising risk of recession
July 27, 2022 08:55 - 4 minutes VideoThe war in Ukraine, lockdowns in China, and rising consumer prices are threatening to push the global economy to the brink of a recession. That's according to the International Monetary Fund's updated World Economic Outlook released this week. According to the lender, global economic growth will slow this year to 3.2%. It's a downgrade from the Fund's projection in April, and much lower than last year's expansion of more than 6%. For more on global economy, we spoke to David Madden, who is ...
Russia announces cut in gas supplies to EU
July 26, 2022 09:54 - 2 minutes VideoOil prices are surging for a second day following Russia's decision to cut gas supplies to Europe. That's because if Europe runs short on gas, companies in the bloc could choose to start using crude products like diesel to keep their machines running. The European Union has already banned some oil imports from Russia, which is the world's second-largest exporter of the commodity. For the energy conflict, we were joined by Naeem Aslam, who is the chief market analyst at AvaTrade in London. #...
Report this week expected to show US economy in recession
July 25, 2022 09:06 - 2 minutes VideoGlobal stocks are down as investors wait for the US Federal Reserve's move on interest rates later this week. The US Fed is expected to raise interest rates by 75 basis points this week, to keep a lid on consumer price hikes. Investors are also waiting for US GDP data for the second quarter. For the details, we were joined by Han Tan, who is the chief market analyst at Exinity Group in Abu Dhabi. #UnitedStates #FederalReserve #InterestRates