World Business Report
1,834 episodes - English - Latest episode: 2 days ago - ★★★★ - 236 ratingsThe latest business and finance news from around the world from the BBC
Homepage Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Episodes
UAW and automakers try to reach a final deal
September 18, 2023 15:18 - 27 minutes - 12.5 MBThe car workers strike in the US enters day 4 today with the president of the United Auto Workers union, Shawn Fain preparing to meet again with bosses at General Motors, Ford and Stellantis. The workers want a 40% pay increase - the same rate their CEOs’ pay grew in recent years. The price of oil is reaching 95 dollars a barrel for the first time since November last year. Growing supply tightness and dwindling stockpiles have led into the increase in prices which in turn will start to affe...
Biden supports UAW strikers
September 15, 2023 22:42 - 27 minutes - 12.5 MBUS President Joe Biden has sided with workers who have gone on strike in a pay dispute with three of America's biggest car-makers. In a meeting on Friday he said "workers deserve a fair share". We hear what the workers are accusing the plants about which are owned by General Motors (GM), Ford and Stellantis. Prices for Uranium have surged to their highest level for 12 years as countries try to protect stocks for nuclear power production. We take a look at where there is a huge demand for th...
UAW strike: thousands of workers at three of the biggest US carmakers have gone on strike
September 15, 2023 15:14 - 27 minutes - 12.5 MBMore than 10-thousand employees at three of America's biggest car makers have gone on strike over pay and conditions. It's the first time that the United Autoworkers Union has simultaneously targeted all three of the main US car manufacturers - General Motors, Ford and Stellantis.
US on the road to industrial action
September 14, 2023 22:33 - 26 minutes - 12.3 MBNearly 150 thousand U.S. auto workers are set to go on strike this week if General Motors, Ford, and Stellantis fail to meet their demands for big pay raises. Workers want a 46% pay increase and the restoration of concessions workers made years ago when the companies were in financial trouble. The United Auto Workers union, has threatened to strike any of the three companies that haven’t reached an agreement by the time its contract with the union expires.
ECB hikes rates up to 4%
September 14, 2023 15:03 - 27 minutes - 12.5 MBThe European Central Bank has hiked interest rates by a quarter of a percentage point to 4% today. That's the highest level since the launch of the euro currency in 1999. Officials say interest rates need to go higher in order to tame inflation.
US inflation highest in 14 months
September 13, 2023 22:26 - 27 minutes - 12.5 MBDriven by things like petrol prices, the consumer price index increased by 0.6% last month, the largest gain since June 2022. However underlying inflation was the smallest in nearly two years, so what could that mean for further interest rate rises by the Federal Reserve? Roger Hearing finds out how the price rises are affecting businesses and what driving up the price of petrol.
EU launch investigation into Chinese electric vehicles
September 13, 2023 15:12 - 27 minutes - 12.5 MBThe European Commission has started an investigation to assess whether China is using unfair subsidies to boost the sale of its electric vehicles in Europe. Certain state subsidies are illegal under international trade rules.
BP boss Bernard Looney resigns
September 12, 2023 22:37 - 27 minutes - 12.5 MBThe head of BP Bernard Looney has suddenly resigned following allegations over personal relationships with colleagues. We find out what this means for the company going forward. What happens when the NFL's Most Valuable Player gets injured right at the start of the season. Well it happened to the Jet's very own Aaron Rodgers we take a look at what this means for his club and the future of the games going forward. And Pickleball is the rage in America this summer. It’s a form of paddle tenn...
Google takes on the US Department of Justice in historic antitrust trial
September 12, 2023 15:04 - 26 minutes - 12.1 MBUS prosecutors are taking Google to court over allegations it made deals with smartphone makers to ensure it was the default search engine on billions of devices. The Department of Justice claims the tech giant engaged in illegal practices, which Google denies. The International Atomic Energy Agency (IAEA) is forecasting that demand for oil, natural gas and coal will all peak before 2030. We ask if this is the beginning of the end for the fossil fuel era, what does it mean for the countries t...
North Korea's Kim Jong Un travels to Russia to meet Putin
September 11, 2023 22:24 - 5 minutes - 2.69 MBThe two leaders are likely to discuss North Korea supplying weapons in support of Russia’s war in Ukraine. We will hear the latest on the economic friendship between the two countries. And Thailand's new prime minister has announced a cash handout in a bid to revive the economy. $300 will be distributed to every citizen through a digital wallet. We look at how this tactic will revive the country's economy. Also, we're about to see the opening of the biggest legal case against big tech in ...
What is the economic impact of the Morocco earthquake?
September 11, 2023 15:16 - 27 minutes - 12.4 MBThe interior ministry of Morocco says nearly two-thousand five hundred people have died following Friday's earthquake. Rescue teams are still battling to find survivors trapped in the rubble. We look at the economic impact on the country. The EU is considering scrapping plans to impose regulations designed to improve animal welfare in the farming industry, over concerns about the impact it could have on food inflation. Lab-grown meat can be labelled kosher and halal as long as its cells are...
African Union expected to join G20
September 08, 2023 22:11 - 27 minutes - 12.5 MBOfficials at the G20 summit in Delhi say the African Union could become a member. The proposal has been backed by the US and by India, which is hosting the meeting.
Apple shares tumble after Chinese government tells staff not to use iPhones
September 08, 2023 15:11 - 27 minutes - 12.5 MBApple's stock market valuation has fallen by almost $200bn in two days after reports that Chinese government workers have been banned from using iPhones. We take a look at the implications this might have for the firm. Chevron workers at two of the companies' LNG facilities in Australia have begun a strike that could have global repercussions. We get the latest from our correspondent in Sydney. And as leaders of the world's major economies gather in India to attend the G20 summit, we find o...
WeWork: Are more of us returning to the office?
September 07, 2023 22:17 - 27 minutes - 12.5 MBThe co-working company, WeWork, is looking to renegotiate nearly all of its office leases following a significant decline in its share value since the beginning of the year. The company has 777 locations in 39 countries with long term lease obligations totalling more than $13 billion.
What does China's economic slowdown mean for the rest of the world?
September 07, 2023 17:09 - 26 minutes - 12.1 MBAs imports and exports fall again in China, we ask what the economic slowdown means for the rest of the world. A separate report also shows a decline in the services sector of the world's second-largest economy. Senior Bloomberg correspondent in Hong Kong Rebecca Choong Wilkins gives us her analysis. Struggling co-working company WeWork is looking to renegotiate all of its office leases around the world as it questions remain over its ability to stat in business. CEO and co-founder of flexibl...
African leaders propose global carbon taxes to fight climate change
September 06, 2023 22:32 - 26 minutes - 12.2 MBAfrican leaders have issued a declaration proposing new taxes across the world to fund action against climate change. The Nairobi Declaration was issued at the end of the three-day Africa Climate Summit in the Kenyan capital. Turkey pushed up its inflation forecasts and cut those of economic growth on Wednesday, as President Erdogan appeared to endorse the big interest rate hikes that are driving a turnaround toward more orthodox policies. The European Union Commission has designated six ...
The German economy in focus: is the age of prosperity nearing an end?
September 06, 2023 15:20 - 26 minutes - 12.1 MBWith inflation up, consumer sentiment down and business activity contracting in Germany, we ask if two decades of prosperity in the European powerhouse are at an end. In a special programme, Vivienne Nunis is joined by BBC correspondent Damien McGuiness in Berlin to discuss the core issues. We hear from Thilo Brodtmann, head of Germany's largest industrial association, the VDMA. Thorsten Schmidt, CEO of Heller Machine Tools in Nürtingen gives us his view on the recent slowdown in manufacturin...
Oil prices jump after Saudi Arabia and Russia extend output cuts
September 05, 2023 22:16 - 27 minutes - 12.5 MBThe cost of oil climbs above $90 a barrel for the first time in 2023. We look at the reasons and the consequences this can have in countries that are already struggling with high fuel prices like Pakistan. A new law has taken effect in New York City that restricts short term rentals through platforms such as Airbnb and VRBO. We find out the details. And we hear about the Belgian government's initiative to put pressure on banks to get them to raise interest rates on deposits. But will it w...
Qantas CEO steps down: what next for Australia's largest airline?
September 05, 2023 15:23 - 21 minutes - 9.8 MBQantas CEO Alan Joyce is stepping down two months earlier than planned, as the airline faces growing controversies. In the past two years Qantas has faced a slew of criticism for expensive airfares, mass delays and cancellations, and its treatment of workers. Labor Senator Tony Sheldon gives his reaction to the news. South Africa's economy has grown more quickly than expected in the second quarter of 2023. This is despite ongoing power outages impacting the country. An ice cream seller in Sow...
No Black Sea grain deal on the horizon... yet
September 04, 2023 22:11 - 27 minutes - 12.5 MBRussian president Vladimir Putin says the agreement to allow Ukrainian grain exports on the Black Sea will be revived when his demands on exporting Russian products are met. We look into the impact this is having on Ukraine's economy. Protests against soaring electricity bills continue in Pakistan. We hear about the challenges high energy rates pose for local businesses and why the government does not have many alternatives to help bring prices down. And we get the latest from the biannual...
Living with high inflation
September 04, 2023 15:25 - 26 minutes - 12.1 MBAs Turkey's annual rate of inflation hits 58.94% in August, we analyse the reasons why. We hear from a local business owner in Ankara about his struggles with rising energy and food costs. We also take a closer look at two other countries struggling to control inflation: Pakistan and Argentina. Residents in Spain's capital city, Madrid, are dealing with the aftermath of flash flooding over the weekend. Transport links have been affected and many businesses have been forced to close. Internet ...
Businessman Mohamed Al Fayed dies aged 94
September 01, 2023 22:02 - 26 minutes - 12.1 MBMohamed Al Fayed, former Harrods owner whose son Dodi was killed alongside Diana, Princess of Wales in car crash, has died aged 94. Born in Egypt, he built a business empire in the Middle East before moving to the UK in the 1970s.
Why is Africa in debt distress?
September 01, 2023 15:15 - 27 minutes - 12.5 MBVivienne Nunis hears about a new report which says that if nothing is done to redress Africa’s huge debt burden, the consequences will be felt far outside the continent. New rules come into force today (Friday) in the Netherlands, which could further limit the export of high-end semiconductor technology to China. From today, rented E-scooters will no longer be seen on the streets of Paris - after residents voted overwhelmingly in favour of getting rid of them.
US natural disasters hit insurance companies
August 31, 2023 22:39 - 29 minutes - 13.6 MBFlorida’s Tropical Storm Idalia is the most expensive natural disaster to hit the United States this year. Insurance companies in Florida are now under pressure; nine property insurance firms have closed down since 2021. We hear from a business in Cedar Key which was badly damaged by the storm.
Gabon coup: What next for the African country's economy?
August 31, 2023 15:11 - 26 minutes - 12.1 MBArmy officers who seized power name a transitional leader for this nation rich in oil and manganese, a key mineral in the steel industry. We take a look at Gabon's economy, the role it could have played in the political crisis which unravelled this week, and the challenges it will face under new leadership. Figures from China's manufacturing sector show that activity has dropped for the fifth month in a row. We look into the latest gloomy data on the state of the world's second largest econ...
Switzerland outlines measures to combat money laundering
August 30, 2023 22:14 - 26 minutes - 12.1 MBSwitzerland has outlined a series of measures to combat money laundering and increase transparency in its huge financial sector. They include a register of those who ultimately benefit from trusts and companies - Switzerland is the only European country that doesn't have one. One of China's biggest property development firms, Country Garden, has reported half year losses of six-point-seven billion dollars. The announcement increases concerns about the troubled property sector, which accounts...
Understanding Pakistan's energy crisis
August 30, 2023 15:06 - 27 minutes - 12.5 MBElectricity prices in the country have soared since the government cut energy subsidies to obtain a $3bn bailout from the International Monetary Fund leading to protests. We hear how this is impacting individuals and businesses. Also in the programme, we get the latest from Gabon, where the military has seized power and placed President Ali Bongo, 64, under house arrest. We take a look at the economic background in which the coup has taken place. Netflix has told the BBC that their gaming...
Is China uninvestible for US companies?
August 29, 2023 22:19 - 26 minutes - 12.4 MBUS commerce secretary, Gina Raimondo, is calling on Beijing to reduce the risk of doing business in China for American companies.
The US Commerce Secretary says her country doesn't want to 'decouple' from China
August 29, 2023 15:13 - 26 minutes - 12.1 MBGina Raimondo is the latest of four US top officials to visit China in the last two months. We look into what might come out from her four-day visit to the Asian superpower. London has expanded its Ultra Low Emission Zone to make it the world's biggest anti pollution charging zone. We hear how much drivers will have to pay to drive within the city, and the impact it can have on workers and businesses. And India, the world's largest rice exporter, has issued new curbs on exports of this ce...
Evergrande: Shares in the crisis-hit Chinese developer plunge by 80%
August 28, 2023 22:08 - 27 minutes - 12.5 MBShares in embattled Chinese property developer Evergrande have fallen almost 80% in their first day of trading in Hong Kong for a year and a half. The shares have lost more than 99% of their value in the past three years as Beijing cracked down on property firms. Also, a technical issue at UK air traffic control has led to long flight delays and even though layoffs are down, employers are still finding ways to cut jobs
Evergrande's shares tank after resuming Hong Kong trading
August 28, 2023 15:22 - 27 minutes - 12.5 MBShares of the Chinese property giant fell by almost 80% on its first day of trading since March last year. The firm had suspended its activity in the Hong Kong Stock Exchange as it aimed to release a global restructuring plan. he US Commerce Secretary, Gina Raimondo, is the fourth member of Joe Biden's cabinet to visit China in the last two months. We look into what might come out of this three-day trip. And thousands of airline passengers face potential delays and cancellations after a t...
US faces more interest rate rises to cool inflation
August 25, 2023 22:07 - 27 minutes - 12.5 MBThe US Federal Reserve chairman has said the central bank will continue to raise interest rates "if appropriate" as inflation remains "too high". Jerome Powell told an annual gathering of central bankers that the pace of price rises had fallen from a peak. The Director of the British Museum is stepping down over the way the institution under his leadership handled a series of thefts that have shaken its reputation. The international leg of Taylor Swift's Eras tour kicked off last night in...
What next for the German economy?
August 25, 2023 15:09 - 27 minutes - 12.5 MBGermany’s economy slowly recovered in the second quarter of the year but it’s still very weak. Slow performance continues to drag down growth across the whole Eurozone.
BRICS invites six more countries to join the bloc
August 24, 2023 22:09 - 27 minutes - 12.5 MBThe BRICS group of nations has invited six countries to join them. They are Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the UAE. We look at how some of these countries would benefit from joining this bloc. Central banks from around the world are gathering for the annual three-day conference in Jackson Hole, Wyoming. Turkey's central bank hiked interest rates on Thursday by more than expected as it steps up a new commitment to damp inflation through monetary policy.
Wagner deaths: how will it affect the cost of the war?
August 24, 2023 15:24 - 27 minutes - 12.5 MBYevgeny Prigozhin was a head of the private military company and he used to personally operate the budget and salaries for the Wagner group. What will happen to Wagner now and who will take over the organisation?
Wagner boss Prigozhin on passenger list of crashed plane - Russia
August 23, 2023 22:13 - 27 minutes - 12.5 MBWagner mercenary chief Yevgeny Prigozhin was listed as a passenger on a private jet which crashed on Wednesday evening north of Moscow with no survivors, the Russian authorities said, raising fears among his allies that he had been killed. India makes history by becoming the first nation to land near the Moon's south pole. One of the mission's major goals is to hunt for water-based ice, which scientists say could support human habitation on the Moon in future. Plus, central bankers from aro...
India lands on the Moon
August 23, 2023 15:12 - 27 minutes - 12.5 MBIndia makes history by becoming the first nation to land near the Moon's south pole. One of the mission's major goals is to hunt for water-based ice, which scientists say could support human habitation on the Moon in future.
Microsoft makes new bid to unblock Call of Duty deal
August 22, 2023 22:09 - 27 minutes - 12.5 MBMicrosoft has made a new bid to buy Call of Duty-maker Activision Blizzard in the latest twist in the tale of what would be the biggest deal of its kind in the gaming industry. Its original $69bn (£59bn) deal was blocked by UK regulators, but under the new offer Microsoft has agreed to transfer the rights to stream Activision games from the cloud to Ubisoft, a video games publisher, for 15 years. The five Brics countries - Brazil, Russia, India, China and South Africa - are holding their 15t...
Has South Africa benefited from BRICS?
August 22, 2023 15:44 - 27 minutes - 12.4 MBThe first day of the Summit BRICS 2023 is hosted by South Africa. Official meeting has been set aside for events involving the more than 70 countries invited as "friends" of the BRICS bloc. Delegations will gather to discuss the expansions, trades deals and de-dollarization.
Storm Hilary hits California after lashing Mexico
August 21, 2023 22:08 - 27 minutes - 12.5 MBTropical Storm Hilary swept across the US state of California on Sunday night, bringing fierce winds and flooding to the Pacific coast. Now headed north to Nevada, the storm passed over Southern California, with record rainfall and flash flooding predicted in the Death Valley National Park. The storm is expected to deal a major blow to the region's economy, including its vineyards which last year generated over $88 billion for the US. Left-winger Luisa Gonzalez is leading in Ecuador's presid...
BRICS: Over 50 countries gather in South Africa
August 21, 2023 15:21 - 27 minutes - 12.5 MBThe BRICS group of developing economies – Brazil, Russia, India, China, and South Africa meet in Johannesburg this week for their annual summit. Top of the agenda will be its expansion. Twenty-three countries have formally expressed an interest in joining the group, while officials have said a total of 40 are seeking membership. We find out why this economic group is so important.
Ukraine: The struggle for energy
February 24, 2023 23:29 - 27 minutes - 12.7 MBUkraine's year of war has brought about huge challenges for the country and the rest of the world's access to energy. Russia's dominance of Europe in this area meant big headaches for countries trying to wean themselves off Russia's oil and gas. There were fears of power cuts and freezing homes in Germany, Poland and elsewhere. One year on, did those fears become reality?
Ukraine: The cost, one year on
February 24, 2023 16:02 - 27 minutes - 12.4 MBTwelve months since Russian tanks rolled into Ukraine, farmers and food supply experts explain why the global impact of the invasion is still being felt. We speak to Oleg Ustenko, an economic advisor to President Zelensky. Also, a look ahead to Nigeria's national election.
Former FTX boss faces four new criminal charges
February 23, 2023 23:16 - 27 minutes - 12.4 MBFormer boss of collapsed crypto exchange FTX faces four new criminal charges accusing him of conspiring to make illegal political donations and to commit bank fraud. Sam Bankman-Fried has already pleaded not guilty to defrauding customers and investors. FTX filed for bankruptcy last year, leaving many users unable to withdraw their funds. Mr Bankman-Fried now faces a total of 12 criminal charges.
Keeping the lights on in South Africa
February 23, 2023 16:30 - 27 minutes - 12.7 MBThe South African government has agreed to take on $23bn of debt from the state power company Eskom. We speak to a former executive about how this move will help the country avoid continued blackouts. A new regulating body for Football in England aims to keep the boardroom finances in check, and give the fans more of a say. We speak to one club owner about how it could impact clubs competing in the global sport industry. And what makes milk, milk? The Food and Drug Administration in the US ...
US ruling bans caste discrimination
February 22, 2023 23:34 - 27 minutes - 12.5 MBSeattle, in the US state of Washington, has become the first American city to outlaw prejudice based on India's caste system. It's a big moment for South Asian diaspora. Elsewhere, Italy's authorities are considering whether to send Facebook's parent company a $900 billion tax bill. Meta insists it's up to date with all its liabilities.
Hong Kong rolls out voucher scheme
February 22, 2023 16:26 - 26 minutes - 12.1 MBResidents of Hong Kong are to receive a third round of consumption vouchers, aimed at boosting consumer spending. We look at the economic pressures on the special administrative region, and how much difference new measures are likely to make.
The economics of Ukraine's refugees
February 21, 2023 23:41 - 27 minutes - 12.4 MBA year since Russia invaded, millions of Ukrainians are still displaced around the globe. Away from the immediate horror of the conflict, it's presented challenges and opportunities for host countries, refugees, and their businesses. What does this population shift mean for Europe and beyond?
Russia's War Economy
February 21, 2023 16:15 - 28 minutes - 12.9 MBIn his state of the nation speech, Vladimir Putin has blamed the West for provoking Russia's invasion of Ukraine. We ask what is the state of the Russian economy after one year of the war? We hear from one of the world's biggest cryptocurrency exchanges on the future of regulation in the industry. And does a shorter working week make us more productive? The world's biggest trial of a four day working week suggests it doesn't harm the performance of companies and leaves employees feeling hea...
Ukraine: how far does US support go?
February 20, 2023 23:35 - 27 minutes - 12.4 MBUS President Joe Biden has pledged a further $450 million in assistance to Ukraine. But back at home, questions are being raised over how long such support can continue. Also on the programme, why Hong Kong is becoming a global player in the crypto market.