24 episodes

A daily update on the latest business and economic news. Live on weekdays at 8.15 am Paris time.

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A daily update on the latest business and economic news. Live on weekdays at 8.15 am Paris time.

    • video
    Rolls-Royce to cut 9,000 jobs as air travel collapses

    Rolls-Royce to cut 9,000 jobs as air travel collapses

    The aircraft engine builder Rolls-Royce is to cut 9,000 jobs, or around a fifth of its global workforce, because of the impact of the Covid-19 pandemic. The company, like its French rival Safran, has suffered from the plunge in air travel due to lockdown measures in many parts of the world. Also today, Mali becomes the first African country to secure a moratorium on its debt payments for 2020, after an agreement with the 'Paris Club' of creditors.

    • 4 min
    • video
    EU new car sales collapse 76% in April

    EU new car sales collapse 76% in April

    New car registrations in the European Union fell by 76 percent in April, the largest fall on record, as lockdown measures hit production and sales. Figures from the European Automobile Manufacturers Association show the slump was particularly pronounced in Spain and Italy, where registrations fell by over 97 percent. Also today, the UK saw a jump in unemployment claims in April, despite 7.5 million workers being covered by the British government's pandemic income support scheme.

    • 3 min
    • video
    WTO director-general to end term early

    WTO director-general to end term early

    The head of the World Trade Organization will step down, a year before his term is due to expire. The Geneva-based body confirmed Roberto Azevedo would resign at the end of August. He told ambassadors during a video conference that the move would allow them to choose a successor to confront what he described as a "new post-Covid reality". The WTO has struggled to remain relevant under Azevedo's tenure, with international trade tensions and protectionism on the rise.

    • 4 min
    • video
    Covid-19: UK economy sees biggest quarterly slump since 2008

    Covid-19: UK economy sees biggest quarterly slump since 2008

    The UK economy shrank by 2 percent in the first three months of 2020, the worst slump since the financial crisis of 2008. The contraction was smaller than in other European countries, largely due to the British government imposing lockdown measures later than its neighbours. Also today, Amazon France has extended a shutdown of its warehouses until May 18, over a safety dispute with unions. The online retail giant had closed its six French depots on April 16, after a court ruled it could only ship "essential goods".

    • 4 min
    • video
    Covid-19: French economic activity plunges in April, but shows improvement on March

    Covid-19: French economic activity plunges in April, but shows improvement on March

    New figures from the French central bank show the slump in economic activity in April was less dramatic than in March. Overall, activity fell by 27 percent last month, compared to a 32 percent drop the month before. Bank of France governor François Villeroy de Galhau warned that the lockdown would knock six points off France's GDP in 2020, and that further economic damage was likely. Also today, low-cost airline Ryanair has announced plans to restore 40 percent of its flights by July.

    • 2 min
    • video
    The cost of confinement: How France's economy is emerging from lockdown

    The cost of confinement: How France's economy is emerging from lockdown

    Eight weeks of lockdown took a heavy toll on France’s economy, which contracted sharply and plunged into recession. Many businesses across the country are beginning to re-open as the confinement period officially ends on Monday - but the government is still planning substantial financial support. It has unveiled €110 billion worth of stimulus in recent weeks, including a partial unemployment scheme that's paying the salaries of 12.2 million French workers. That will be wound down - but slowly, to avoid further shock.

    • 3 min

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