World Business Report
1,874 episodes - English - Latest episode: about 5 hours ago - ★★★★ - 236 ratingsThe latest business and finance news from around the world, from the BBC.
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Episodes
Rebuilding Ukraine: call for Russian oligarchs to foot the bill
July 04, 2022 22:07 - 26 minutes - 12.1 MBUkraine says it needs $750 million to rebuild Ukraine and to restore its economy after the war with Russia. We speak to Oliver Bullough, author of Butler to the World: How Britain Helps the World's Worst People Launder Money, Commit Crimes, and Get Away with Anything. Inflation in Turkey has risen at its fastest rate for 25 years. We get the views of Turkish economist Murat Sagman. Elsewhere Manchester City's owners buy a majority stake in Italian Serie B side Palermo. We look at the business...
Ukraine Recovery Conference
July 04, 2022 15:43 - 26 minutes - 12.1 MBLeaders from dozens of countries and international organisations are meeting in Lugano, Switzerland to discuss the reconstruction of Ukraine. In Turkey, prices are rising at their fastest rate in 24 years, according to the latest official figures. The heads of state of the Economic Community of West African States (Ecowas) meeting in the Ghanaian capital, Accra, accepted a proposal by the Malian military to hold elections and return to civilian rule by March 2024.
Strikes ground planes in Paris
July 01, 2022 22:32 - 26 minutes - 12.1 MBTravellers in France face a wave of flight cancellations as a four-day strike by airport workers in the capital grounds dozens of planes. We hear from French journalist Anne-Elizabeth Moutet and the Head of Aviation at the European Transport Workers' Federation Eoin Coates. Disney, Facebook’s parent Meta, American Express and Goldman Sachs are among the latest in a growing list of companies that say they will cover expenses for employees who travel out of state to access abortion care. But w...
Hong Kong: how has doing business changed 25 years after handover?
July 01, 2022 15:05 - 26 minutes - 12.1 MBOn the 25th anniversary of Hong Kong's transfer from British to Chinese rule, we ask how things have changed for businesses in the territory. Speaking at an event to mark the occasion, President Xi said the "one country two system" model of ruling Hong Kong must continue. He also oversaw the inauguration of Hong Kong's new pro-Beijing leader John Lee. Bloomberg's Asia Government Correspondent, Rebecca Choong Wilkins gives her insight into the day's events and looks at what the future holds fo...
US Supreme Court limits Biden's power to cut emissions
June 30, 2022 22:49 - 26 minutes - 12.1 MBJoe Biden's climate strategy suffers a major setback after the US Supreme Court rules that the Environmental Protection Agency doesn't have the authority to set standards on polluting emissions from existing power plants. A White House spokesperson says the ruling is a "devastating decision," we ask the BBC's John Mervin about the potential consequences. Global markets close after one of their worst performances in decades. As investors brace for further losses and even the prospect of a re...
NATO Madrid summit ends with pledge to boost spending on the military alliance
June 30, 2022 15:04 - 25 minutes - 11.7 MBNATO's two-day summit in Madrid has ended with a pledge to boost defence spending to strengthen the transatlantic military alliance and increase support for Ukraine. US President Joe Biden has announced a further $800 million in military aid. Senior defence consultant Fabrice Pothier tells us what the economic impact of increased defence spending may be for the countries offering greater support for the war-torn country. The pressure on global oil production is discussed at the latest OPEC+ m...
Crypto plunge sends funds spiralling
June 29, 2022 22:42 - 20 minutes - 9.51 MBA major hedge fund faces liquidation following a cryptocurrency price crash. Singapore-based Three Arrows Capital has defaulted on loans of more than $700 million. Could it be a sign of worse to come? Digital Assets Correspondent for the Financial Times, Scott Chipolina, says it's not the first time confidence has been undermined. Walter Tood, President of US-based firm Greenwood Capital, gives us the latest insight into markets and global inflation. Sri Lanka, which is among the worst-affect...
H&M plans global expansion to make up for Russia losses
June 29, 2022 15:31 - 24 minutes - 11.4 MBFashion brand H&M is planning to open more stores in South America to make up for losses in Russia, where it's closed its shops due to the war in Ukraine. Before the conflict, Russia had been H&M's most important growth market. We speak exclusively to the group's head of investor relations, Nils Vinge, about the challenges ahead. As the economic crisis in Sri Lanka continues, we hear from people living in the capital, Colombo, as they struggle to buy enough fuel for their businesses. The coun...
The tragic cost of migrant smuggling
June 28, 2022 22:22 - 26 minutes - 12.1 MBAt least 50 people from Mexico, Guatemala and Honduras have been found dead in the back of a truck outside the Texas city of San Antonio. Mexico has blamed a people smuggling crisis at the border with the US. So what makes people attempt the journey? Lillian Perlmutter, a journalist based in Mexico City, gives us the latest reaction. We'll hear reaction from across the continent. The tragedy comes amid plummeting costs across North and South America, and protests in the Peruvian capital. The...
Increase in defence spending debated at NATO summit
June 28, 2022 15:06 - 26 minutes - 12.1 MBHeads of state and government from NATO's 30 member countries are meeting in Madrid to decide what the organisation's strategic and spending plan should be for the next 10 years. The proposals include a dramatic increase to the number of troops in its rapid response force, increasing weapons stockpiles and strengthening command and control. But how will it all be paid for? We speak to former NATO advisor, Professor Gwythian Prins. A two-day demonstration has begun in Ghana's capital, Accra. P...
Sri Lanka: fuel crisis 'worse day by day'
June 27, 2022 22:25 - 26 minutes - 12.1 MBIn Sri Lanka, the government has banned all but essential sales of fuel for a fortnight. It follows months of surging prices, constrained supplies and political tensions. People there tell us about how difficult daily life has become. As the G7 draws up plans to tackle the Russia-Ukraine conflict, we ask former Canadian finance minister Joe Oliver whether it will be enough. Economics professor Caitlin Myers gives us the latest reaction to the decision to remove constitutional abortion rig...
G7 leaders discuss Russian oil price cap
June 27, 2022 15:04 - 28 minutes - 13.2 MBA proposed price cap on Russian oil is being discussed by G7 leaders, from the world's most advanced economies, at a three-day summit at a luxury resort in the mountains of Bavaria, Germany. The war in Ukraine is at at the top of the G7 agenda, with nations expected to promise further military support for Kyiv and more sanctions on Moscow. We discuss the price cap and look at how it could affect the cost oil globally if introduced. Elsewhere, criminal barristers in England and Wales go on str...
US abortion decision could make women poorer
June 24, 2022 22:27 - 26 minutes - 12.1 MBThe US Supreme Court has reversed its constitutional stance on abortion after 50 years. More than 30 million US women are set to lose their automatic right to end their pregnancy. Critics say it could result in worsening inequalities and push some women into poverty. Meanwhile, a number of workplaces have pledged to help women access healthcare in states where abortion will remain legal. We hear from both sides of the debate, and are joined by Rachel Fey from the healthcare support network Po...
Ryanair staff strike in Europe
June 24, 2022 15:37 - 26 minutes - 12.1 MBRyanair staff have gone on strike today in protest against pay and conditions. Strikes will last for three days. Ernesto Iglesias from the USO trade union joins us from Madrid airport. President Zelensky has found a new way to connect remotely, using technology donated to Ukraine that beams him into venues around the world as a hologram. Last week he spoke at a technology event in the UK. The BBC’s Lara Lewington was there and we get the details from her. M&G Wealth’ Chief Investment Offic...
Ukraine inches closer to joining EU
June 23, 2022 22:27 - 26 minutes - 12.1 MBUkraine has been awarded candidate status by the European Union, meaning it could become a member state in the future. It applied to join shortly after Russia's invasion back in February. Moldova has also been made a candidate. President Zelensky and some EU leaders have praised the decision - while the Kremlin appears uninterested. We'll get the latest on the decision. Also in the programme, Tom Howells, a humanitarian director with Save the Children, tells us of the 'resilience' of Afghan p...
Aid to Afghanistan
June 23, 2022 15:40 - 26 minutes - 12.1 MBOrganisations are facing financial challenges getting aid to Afghanistan after Wednesday's devastating earthquake. Vivienne Nunis is joined by Dr Erica Moret, a senior researcher at the Graduate Institute in Geneva and the author of a recent report on financial access for NGOs in Afghanistan. European Union leaders are today set to formally designate Ukraine a candidate for future membership. Ukraine applied to join the bloc after Russia invaded in February, and leaders are meeting in Bruss...
Afghanistan earthquake: Taliban appeal for international aid
June 22, 2022 22:19 - 26 minutes - 12.1 MBThe Taliban in Afghanistan have appealed for international support, as the country deals with the aftermath of a devastating 6.1 magnitude earthquake. Over 1,000 people have died and at least 1,500 injured, according to local officials. Sri Lanka's prime minister Ranil Wickremesinghe says its troubled economy has collapsed and the country is unable to even pay for oil imports. Mr Wickremesinghe also said he is trying to put together a conference of donors, which, along with the above, would ...
One thousand people killed in earthquake in Afghanistan
June 22, 2022 15:47 - 26 minutes - 12 MBToday the Sri Lankan prime minister, Ranil Wickremesinghe, said the country's economy has completely collapsed and needs international support. Addressing parliament, he said a donor conference would be convened to seek financial assistance from China, Japan and India. Dhananath Fernando is the Chief Operating Officer at the independent policy think tank the Advocata Institute in Colombo. He tells us what might have prompted the prime minister to conclude that an economic collapse had been re...
Russia warns Lithuania over blockade
June 21, 2022 22:21 - 18 minutes - 8.43 MBRussia has warned Lithuania of "serious" consequences after it banned some goods to the Russian territory of Kaliningrad. Kaliningrad - a strategic region where Russia's Baltic Fleet is headquartered - has no border with mainland Russia. Russia's senior security official Nikolai Patrushev said Moscow will certainly respond to such hostile actions. A British subsidiary of the mining company Glencore has pleaded guilty in a UK court to corruption offences, after being accused of paying million...
Biggest rail strikes in the UK for 30 years
June 21, 2022 15:22 - 26 minutes - 12.1 MBOnly 20% of trains across England, Scotland and Wales are running as the RMT union strike for three days over job cuts, pay and pensions. The Prime Minister, Boris Johnson has said commuters must "stay the course" and urged rail bosses and unions to agree a deal. The BBC’s Rowan Bridge gives us an update from Manchester Piccadilly station in the north west of England. And it’s not just the UK. Yesterday, public sector health workers and teachers walked out over pay in Zimbabwe. There was al...
Zelensky: Africa is a hostage of Russia's war
June 20, 2022 22:15 - 26 minutes - 12.1 MBUkrainian President Volodymyr Zelensky has called Africa "a hostage" of Russia's war during an address to the African Union (AU) on Monday nearly ten weeks after he first asked to address the continental body. African countries have been divided in their response to Russia's war in Ukraine. Hundreds of Zimbabwe’s public sector health workers have gone on strike over low wages and poor working conditions following a worsening economic crisis that has seen thousands of health workers leave publ...
Doctors and teachers on strike in Zimbabwe
June 20, 2022 15:23 - 26 minutes - 12.1 MBHundreds of public sector health workers and teachers went on strike with organisers saying they can't afford to feed their families. The BBC's Zimbabwe correspondent Shingai Nyoka gives us an update. Columbia elected its first ever left-wing president at the weekend. Gustavo Petro is a former mayor of Bogotá and an ex-rebel fighter. Mr Petro defeated the right-wing millionaire Rodolfo Hernández in Sunday's run-off election with 55% of the vote. We get reaction from businessman Hernando Bar...
The World Trade Organisation agrees deals
June 17, 2022 22:56 - 26 minutes - 12.1 MBWe hear from Alan Wolff, the former deputy directory-general of the World Trade Organisation about the deal on banning fishing subsidies - that has been achieved after more than 20 years of talks. After a tumultuous week we check in with the markets on Wall Street. Joe Saluzzi, Institutional partner at Themis Trading joins us. A BBC survey of more than 4 thousand adults in the UK shows people are cutting back on food and car journeys to save money. Nancy Marshall Genzer of our US partner...
Ukraine moves a step closer to EU membership
June 17, 2022 15:41 - 26 minutes - 12.1 MBThe European Commission has recommended to give Ukraine and Moldova candidate status, moving their application forward in a process that will still take many years to complete. European leaders will meet next week to vote and the approval of all 27-nations is needed for both countries to be officially declared candidates to join the EU. Oleg Chernyak, CEO of CHI Software, tells us about the hopes this brings to a war-torn country. India is seeing violent protests against a new military recrui...
Global interest rate rises
June 16, 2022 22:33 - 26 minutes - 12.1 MBCentral banks across the world have raised interest rates in the last six months, in a bid to contain the most rapid inflation in decades. We speak to Cary Leahey an Economist in New York. Leaders of Germany, France, Italy and Romania have said they support Ukraine's bid to join the European Union. Deputy Director at the Bruegel economic think tank, Maria Demertzis, tells us what the likelihood is of a union with Ukraine. Tesla boss, Elon Musk, has been speaking to Twitter employees today...
UK follows Fed with rates rise
June 16, 2022 15:32 - 26 minutes - 12.1 MBWe explore the fallout of the US Federal Reserve's interest rate hike. The Bank of England has followed suit by raising the cost of borrowing by 0.25 percent in an attempt to control inflation. We hear from Jason Furman, an economics professor at Harvard and a former economics advisor to President Barack Obama. The value of bitcoin has fallen about 30% in the last 10 days, devaluating investors' funds around the world. One of them is the government of El Salvador, where bitcoin was made legal...
Federal Reserve announces biggest interest rate hike in almost 30 years
June 15, 2022 22:31 - 26 minutes - 12.1 MBThe US central bank has announced its biggest interest rate rise in nearly 30 years – raising its headline rate to a range between 1.5% and 1.75%. President and CEO of Carver Federal Savings Bank, Michael Pugh joins us from Harlem, New York City. We also hear from a restaurant and bakery owner in the US. China and Russia have agreed to deepen their strategic cooperation, Associate Professor in Global Communication at Georgia State University, Maria Repnikova tells us why Beijing is looking ...
All eyes on the Fed
June 15, 2022 16:30 - 26 minutes - 12.1 MBWith inflation at its highest level for the past 40 years, the eyes of the global financial world are on the US Federal Reserve, whose Chairman Jerome Powell is expected to announce an interest rate rise to help tackle inflation. We hear from Randall Kroszner, former governor of the Fed. We also talk to senior market analyst at City Index Fiona Cincotta about the European Central Bank's latest emergency meeting and why a senior minister in Pakistan is advising people to reduce their tea consu...
A four day working week in Sri Lanka
June 14, 2022 22:57 - 26 minutes - 12.1 MBSri Lanka is experiencing severe inflation, along with food and fuel shortages. Now around a million workers have been told to work four days a week instead of five. But will it work? Officials say an extra day each weekend will save citizens money, and allow them to grow food in their gardens. But some economists fear it could spark further unrest in the country - and do little to remedy economic woes. Prominent Sri Lankan economist and political writer Asanga Abeyagoonasekera joins us live ...
Shorter working week for crisis-hit Sri Lanka
June 14, 2022 15:18 - 26 minutes - 12.1 MBSri Lanka has approved a four-day week for public sector workers as it struggles to deal with a chronic fuel shortage. The workers impacted will also be encouraged to grow their own food. We hear from a young Sri Lankan about his experiences in the crisis-hit country. Indian Prime Minister Narendra Modi announces an ambitious civil service recruitment drive, aimed at employing one million people. We also discuss the future of vaccine manufacturing in Africa, with the head of a major South Afr...
Brexit: the Northern Ireland puzzle
June 13, 2022 22:29 - 26 minutes - 12.1 MBThe UK has denied breaching international law over changes to its Brexit deal with the EU. The changes are all about transporting goods to and from Northern Ireland. We'll hear what this could mean for business from Elvire Fabry, a trade expert from the Jaques Delours Institute. Famine is again looming over parts of Africa due to the war in Ukraine, according to UNICEF Deputy Regional Director Rania Dagesh. Peter Jankowskis gives us the latest updates on a turbulent day for the markets. Final...
Covid restrictions return to Beijing
June 13, 2022 15:13 - 26 minutes - 12.1 MBBeijing has reinstated some coronavirus restrictions following an outbreak of Covid-19 in China's capital. It comes little more than a week after some curbs, including those on indoor dining, were eased. We look at the economic impact of China's 'zero Covid' policy in Beijing itself, in the country as a whole and on a global scale. Elsewhere, the Africa CEO Forum gets underway in Abidjan on the Ivory Coast. Around 2,000 business leaders, investors and policy makers from all over Africa gather...
US inflation hits fresh 40-year high
June 10, 2022 22:16 - 26 minutes - 12.1 MBInflation continues to squeeze American households with an 8.6% rate in May, the highest since 1981. Food and energy prices lead the rally with double-digit increases. A consumer and a business owner in different parts of the country share their struggles as we ask Peter Jankovskis, vice president of Arbor Financial Services in Chicago, for his input on how the Federal Reserve may react to this rise. The US is dropping its Covid test requirement for air travellers and Japan has reopening its ...
Japan reopens to tourists
June 10, 2022 15:02 - 26 minutes - 12.1 MBAs coronavirus eases, Japan is opening up to tourists, but with strict rules in place. They will have to be part of a package tour, and must wear face coverings in all public places. Yukari Sakamoto takes tourists on tours of food markets in Tokyo, and brings us her perspective on the latest move. And we hear about the economic impact a lack of tourists has had on Japan, from the BBC's Mariko Oi. Also in the programme, Saudi Arabia has introduced a lottery system for westerners hoping to unde...
US regulator ramps up scrutiny over Tesla’s autopilot feature
June 09, 2022 22:07 - 26 minutes - 12.1 MBThe United States vehicle safety regulator is to upgrade its investigation into the autopilot function of Tesla electric cars after more than a dozen of them crashed into parked first-responder vehicles in four years. We hear more from our North of America Business Correspondent Michelle Fleury and Columbia University's economist Cary Leahey. In its first report since Russia's invasion of Ukraine, the United Nations Food and Agricultural Organisation has warned that poor countries will have t...
UN warns over food insecurity
June 09, 2022 15:12 - 26 minutes - 12.1 MBWe hear why Russia's invasion of Ukraine could cause the global food import bill to rise to a record $1.8tn this year from Upali Wickramasinghe, senior economist at the FAO. And we find out about the challenges faced by people in Uganda with food prices from Nebert Rugadya, who is a business reporter in Kampala. Also in the programme, the BBC's Mariko Oi reports from Tokyo on why inflation in Japan is significantly lower than in many other parts of the world. There's been an overhaul of drugs...
UN warns of global global 'wave of hunger'
June 08, 2022 22:14 - 26 minutes - 12.1 MB'No country' will be left untouched by cost of living crisis, says the UN chief Antonio Guterres as pressure on Russia to end blockade of Ukrainian ports grows. Increase in prices of energy and food can be felt everywhere, but for nations in the Horn of Africa the situation is dire as people in rural areas are on the brink of starvation. We talk to Hassan Khannenje, director of Horn International Institute for Strategic Studies. India has increased interest rates for the second time this year...
Turkey seeks to unblock Ukrainian grain
June 08, 2022 15:08 - 26 minutes - 12.1 MBTalks were held between Russia and Turkey on a UN plan to restart Ukrainian grain exports. Western countries have accused Russia of risking global famine by shutting Ukraine's Black Sea ports. Arnaud Petit is executive director of inter-governmental group the International Grains Council, and discusses the challenges involved in getting Ukraine's grain supplies moving again. Also in the programme, the UN's World Food Programme is working with the California ride-hailing app Uber to use its te...
World Bank boss warns tough economic conditions could last for another year
June 07, 2022 22:22 - 26 minutes - 12.1 MBDavid Malpass, president of the World Bank Group, tells Sam Fenwick about the economic challenges countries are facing globally, and how they might continue for another year. As consumer credit hits a record high in April for Americans, we speak to Aviva Investors' Susan Schmidt about how the US economy is fairing. As India continues to tackle temperatures of over 40 degrees Celsius, we speak to Indian journalist Mayank Aggarwal on the ambitious climate targets set by the government and how b...
Sri Lanka's economic crisis deepens
June 07, 2022 15:13 - 26 minutes - 12.1 MBSri Lanka's government says it needs $6bn to maintain citizens' basic standard of living. Sajid Nazmi is an IT worker in the capital Colombo, and discusses the impact of the country's financial crisis. And political economist Ahilan Kardigamar of the University of Jaffna talks us through what the government is trying to do to alleviate the situation. Also in the programme, Wednesday this week marks World Ocean Day, which aims to raise global awareness about the health of our seas. The campaig...
UK Prime Minister Boris Johnson wins confidence vote
June 06, 2022 22:19 - 26 minutes - 12.1 MBThe Prime Minister of the UK secured the support of almost 60% of his party after many rebel politicians issued a vote of no confidence, we speak to our UK political correspondent Rob Watson to find out what this could mean for Boris Johnson. We ask American financial expert Peter Jankovskis what might happen to the British pound after this vote. As a major four day work week trial begins in the UK, we speak to Heather Payne, CEO of Juno College in the Canadian capital of Toronto, and is one ...
Four day work week trial under way
June 06, 2022 15:08 - 26 minutes - 12.1 MBThe most extensive trial yet of a four day working week is now under way in the UK. More than 3,000 workers at 70 companies will work a day less without having to increase hours over the four remaining days. Edward Siegel is chief executive of Charity Bank, which is taking part in the trial, and tells us why he signed the organisation up. And we hear about some of the possible problems that might be encountered from Abigail Marks, professor of the future of work at Newcastle University. Also ...
Mixed signals in the US job market
June 03, 2022 22:26 - 24 minutes - 11.4 MBThe American labour market added more new jobs than expected in May, with payrolls rising by 390,000. But the tech sector has started to step on the brakes in fear of a recession. Tesla's CEO Elon Musk has warned that the electric carmaker needs to cut about 10% of its staff, saying he has a "super bad feeling" about the economy. We ask Chris Low, financial analyst at FHN Financial what this means for the economy. The head of the African Union, Macky Sall, has been in Moscow to urge Russian P...
The economics of the Jubilee
June 03, 2022 15:32 - 26 minutes - 12.1 MBWe broadcast live from the rooftop of the BBC to ask whether a four-day weekend be a help, or hindrance to the economy? We talk to Brand Finance's Chief Executive, David Haigh, over a very British cup of tea and ask him to go over the figures. And Jace Tyrrell, chief executive of the New West End Company tells us how the business partnership of 600 UK & international retailers, restaurateurs, hoteliers, galleries and property owners in London's West End, has recovered from the pandemic. Plus,...
Oil producers agree to boost output
June 02, 2022 22:24 - 26 minutes - 12.1 MBThe group of oil-producing nations known as OPEC+ has agreed to boost output by 50% in July and August to ease price pressures. We talk to Senior Analyst for Bloomberg Intelligence Fernando Valle about the impact this will have in the world economy. African nations usually import almost half of their grain from Ukraine and Russia, along with significant amounts of fertiliser and vegetable oils, but following the invasion of Ukraine, Russia has captured some of Ukraine's biggest seaports and i...
UN warns African countries face an "unprecedented" food crisis
June 02, 2022 15:25 - 26 minutes - 12.1 MBAfrican nations usually import almost half of their grain from Ukraine and Russia, along with significant amounts of fertiliser and vegetable oils, but following the invasion of Ukraine, Russia has captured some of Ukraine's biggest seaports and is blocking Ukrainian shipments. We hear from the BBC's Mohammud Ali in the Kenyan capital Nairobi and Ollo Sib who works for the UN World Food Programme in Senegal's capital Dakar. Sri Lanka has been hit hard by the surge in global inflation and its ...
Meta COO Sheryl Sandberg stands down
June 01, 2022 22:21 - 21 minutes - 9.77 MBThe Chief Operating Officer of Facebook's parent company Meta is standing down after 14 years. Sheryl Sandberg announced her decision on the social media site. Sandberg is one of the most high-profile women in the tech industry. Elsewhere, the chief executive of German asset manager DWS has resigned over 'greenwashing' claims. It follows police raids on DWS offices in Frankfurt, as well as on those of its majority owner, Deutsche Bank in the same city. DWS denies that it misled investors. We ...
DWS boss resigns amid greenwashing claims
June 01, 2022 15:10 - 26 minutes - 12.1 MBThe boss of German asset manager DWS has resigned after a raid over alleged greenwashing. A former employee had suggested the company was selling investment funds as green when they weren't. DWS denies the claims, and we find out more from Steve Arons, who has been following the story for Bloomberg in Frankfurt. And we hear about wider concerns over the recent growth of ESG, or environmental, social and governance considerations in business, from Magdalene Senn of the non-governmental organis...
Russia cuts gas supplies to more of Europe
May 31, 2022 22:26 - 16 minutes - 7.34 MBThe Russian energy giant, Gazprom, is to cut gas supplies to the Netherlands and Denmark. Both countries have refused to pay in roubles and it follows an earlier decision from the EU to block most Russian oil imports by the end of the year. The Dutch Prime Minister, Mark Rutte, is playing down the potential impact though. Elsewhere, consumer groups in 18 European countries back a report calling gaming loot boxes "exploitative." We also hear about the impact of Sri Lanka's economic crisis on t...
EU secures compromise on Russian oil imports
May 31, 2022 15:15 - 26 minutes - 12.1 MBThe EU says it will block most Russian oil imports by the end of 2022 to punish Russia. The deal blocks delivery of Russian oil by sea, but leaves open a pipeline to countries resisting action, including Hungary. Chris Weafer is chief executive of the business consultancy Macro Advisory in Moscow, and tells us what the likely impact will be in Russia. Also in the programme, Israel has signed a free trade agreement with the United Arab Emirates, which is its first major such deal with an Arab ...