The latest business and finance news from around the world from the BBC
UPDATE: IMF downgrades the forecast for the global economy
The International Monetary Fund has downgraded its forecast for the global economy - trimming half a percentage point off its projection - now at 4.4 per cent. The IMF's First Deputy Managing Director, Gita Gopinath tells us the focus right now is on the world’s two biggest economies - the US and China - neither of which, the IMF believes, will be immune to the slowdown. India and Japan, by contrast, are forecast to buck the trend. Plus, Walmart has announced an investment in a vertical farming company. We discuss the merits of the concept with Leo Marcelis, professor of Horticulture and Product Physiology at Wageningen in the Netherlands.
Central Asia suffers power cuts
Millions of people in Kazakhstan, Uzbekistan and Kyrgyzstan have suffered power cuts. The disruption was caused by a grid failure, and Timor Karpov in the Uzbekistan capital Tashkent tells us about his experience of power shortages. And Temur Umarov of the Carnegie Moscow Centre explains the background to the problems.
Also in the programme, the BBC's Ed Butler reports on how drug cartels in Mexico have turned to innovative solutions to continue smuggling drugs across the border into the United States.
The European Space Conference is under way in Brussels today. We explore the main items on the agenda, including a possible rival to Elon Musk's Starlink internet satellite constellation, and the problem of space junk, with space journalist Jonathan O'Callaghan.
Plus, the pandemic has disrupted the industry awards sector considerably over the past two years. Our regular workplace commentator Peter Morgan tells us why he is happy to keep his tuxedo tucked away in the wardrobe.
Today's edition is presented by Rahul Tandon, and produced by Nisha Patel, Sara Parry and Tom Kavanagh.
European Commission announces Ukraine financial aid
The EU Commission president has offered $1.3bn in financial assistance for Ukraine. Ursula von der Leyen's announcement came as NATO put forces on standby and Britain and the US withdrew diplomats from Ukraine, as the threat of a potential Russian invasion continues. We assess Russia's position in the dispute with Chris Weafer, who is chief executive of the Moscow-based economic consultancy Macro Advisory. Also in the programme, the Australian mining giant Fortescue Metals has bought the battery and technology arm of the Williams Formula One racing team. Craig Williams is chief executive of Williams Advanced Engineering, and tells us what makes the organisation attractive. Google is facing concerns from Germany's largest publishers and advertisers, which are asking the EU to intervene over the search giant's plan to stop the use of third-party tracking cookies in its Chrome web browser. Javier Espinoza from the Financial Times brings us the background. Plus, the pandemic has disrupted the industry awards sector considerably over the past two years. Our regular workplace commentator Peter Morgan tells us why he is happy to keep his tuxedo tucked away in the wardrobe.
Italy to elect a new president
This week members of the Italian Parliament will elect a new head of state in a secret ballot. The powers of the president are limited, but the role of overseeing the appointment of the prime minister will be key as the country holds a general election next year, as we hear from Paola Subacchi, professor of international economics at Queen Mary University of London. Over the weekend former Prime Minister Silvio Berlusconi dropped out of the running. Meanwhile, the Italian economy has been growing stronger, as Valentina Meliciani, professor of economics at Luiss University in Rome, explains.
Thousands of unvaccinated American truck drivers are banned from crossing the border into Canada and now the US is also blocking Canadian truckers. We have an extended report on the problems that could be caused by a shortage of truck drivers. Plus, we revisit the panic buying at the beginning of the pandemic. Adam Kaat worked in a supermarket in the state of Colorado in 2020 and has written a book about his experiences.
Update: Intel to invest $20bn in new Ohio chipmaking complex
The American technology firm Intel says it will spend $20 billion dollars to build two semiconductor chip factories in the US state of Ohio as a global shortage continues. Alena Semuels is the Senior Economics Correspondent at Time and explains the significance of the factories. Chris Low of FHN Financial analyses the possible wider impact on the markets. Also on the programme, how long should people isolate when they have Covid? And are businesses able to keep up with the changing rules? Its a question Marketplace's Kai Rysdall put to Cynthia Baur of the University of Maryland School of Public Health
This edition of World Business Report was presented by Rahul Tandon and produced by Nisha Patel
TotalEnergies and Chevron leave Myanmar
French and American energy giants TotalEnergies and Chevron are pulling out of Myanmar. They've cited deteriorating human rights in the wake of last year's coup in the country. We find out more from Gareth Leather, who is on the emerging markets team at Capital Economics.
Also in the programme, an investment of more than $400 million by the mining firm Rio Tinto on a potential lithium venture in Serbia appears to have come to nothing. The BBC's Guy Delaunay explains why.
After the British culture secretary warned that the way the BBC is funded may be coming to an end in the next few years, the BBC's Rob Young explores the way public service broadcasters are funded around the world.
Plus, the singer Adele has been forced to cancel a series of gigs, or residency, in Las Vegas at the last minute. Mark Mulligan of entertainment analysis company MIDiA Research tells us about the attraction to artists of the residency format.
Today's edition is presented by Fergus Nicoll, and produced by Will Bain, Sara Parry and Philippa Goodrich.
Good European coverage
Especially good coverage of European business trends.
Delayed Podcast Posting
Business goes on but this podcast doesn’t!
Great global perspective on business!!
Have been listening for almost two years now.
Get to hear broader and informative news reports covering different parts of the world