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The business show that goes beyond the numbers and the corporate jargon! We break down major business stories and look at how they affect our lives. Thursday at 4:45pm Paris time.

5d ago

A tale of two economies: How America's cost-of-living crisis is shaping US midterm elections

The economy is the number one issue for most American voters, as they worry about high food and energy costs. But can the results of November's midterm elections really impact the cost-of-living crisis? "There isn't a ton that anyone can do about it, regardless of who wins the midterms," says Greg Ip, chief economics commentator at The Wall Street Journal. "They can't stop the war in Iran, because that is the purview of the president (...) To the extent that tariffs are one of the sources of inflation that people are unhappy about, simply changing control of Congress doesn't affect that." Ip says there is a disconnect between the messaging of the Trump administration, the economic data and voters' perception of the economy. "You know the old saying – you can't eat GDP. A lot of the growth in GDP that we're seeing is accruing to companies in the form of much higher profits, or to the more affluent households who own stocks in companies that are connected to the AI boom. So for the median household, their incomes are simply not keeping up with what the strong GDP figures are showing (...) So in some senses, it's two economies facing us in this midterm." FRANCE 24's correspondents Pierrick Leurent and Valerie Defert report on the backlash against AI data centers in Republican strongholds like Texas. Ip says it's a rare unifying issue in a divided economy. "In my opinion, part of the opposition to data centres right now is reflecting this deep-seated anxiety about AI overall. Data centres aren't necessarily the immediate cause, but they're a good proxy or target for that anxiety."
Oct 22

Combatting online scams in the age of AI

One in four Europeans has fallen victim to an online scam, from identity fraud to fake romances. The rise of artificial intelligence is ushering in new risks. Minh Nguyen, Chief Product Officer at security solutions provider Entrust, says both online platforms and governments can play a role in protecting consumers and businesses. "The last couple of years have been fascinating in terms of seeing the evolution of the fraud landscape, and it ultimately boils down to how we create trust," Nguyen says. "We've seen the rise of deepfakes and AI, and it's much easier now for fraudsters to take your voice, to take images that are publicly available on social media, and try and recreate your identity, to impersonate you, in an attempt to access, for example, your bank account." He believes the introduction of an EU digital wallet is a first step towards protecting data. "The EU have been one of the leaders globally in both protecting consumer and citizens' data, but also ensuring that we can access services and products online in a secure way." Nguyen says that despite its risks, artificial intelligence can also help build countermeasures to new types of fraud. "We are also developing solutions that are better at combatting AI and deepfakes, that are able to bring multiple layers of fraud detection together, in detecting things like organised crime, so spotting patterns in fraud rings when they tend to use similar types of devices, or IP or time zones." "I always check the type of links that are being sent to me – so if they redirect you out of the platform, it's usually not a good sign (...) If there's any doubt, it's better to err on the side of caution. You can always contact a platform's support service."
Oct 15

French crypto unicorn Ledger warns of AI security risks

Artificial intelligence is "changing the security landscape". That's according to Ledger, a French unicorn of cryptocurrency that's seeking a bigger role in digital security. Chief Technology Officer Charles Guillemet says: "Finding vulnerabilities and exploiting them costs almost nothing. So this is the new challenge that we have, as the security industry in general – how can we raise the bar for security so it becomes so difficult to break systems? And I think hardware is part of the equation." He says the company is rolling out a new device, Ledger Atom, that will better secure user data. "It's a physical device that looks like your phone, but instead of having the exact same hardware architecture inside, there is also the Ledger hardware specificities inside (...) Depending on which bank you're using, sometimes you have a security token that comes with it in order to authenticate yourself. It's a bit like this, but with a screen and in a generic manner – we can support any kind of use cases." Guillemet says Ledger is securing its distribution chains and hardware, after discovering some of its devices had been tampered with, leading to the loss of some $90 million of cryptocurrency. "We are improving the tamper detection mechanism inside Ledger Atom, there is specific technology that allows us to detect if the device has been modified." "Today, our main market is crypto mostly because crypto is a market where the stakes are very high. There are several trillions that are secured on the blockchain, and we estimate that around 20 percent of those trillions are secured within Ledger technology."
Oct 8

How long will the global energy crunch last?

High energy prices continue to drive inflation and stoke anger among voters around the world. But with more crude oil flowing through the Strait of Hormuz, and governments releasing more emergency fuel stockpiles, how long will the energy crunch last? Jim Burkhard, Vice President and Head of Research for Oil Markets, Energy and Mobility at S&P Global, says elevated oil prices are here to stay. "It's the new normal until flows are normalised out of the Strait of Hormuz. There's no replacing the Middle East as a source of supply." He says damaged infrastructure and high shipping costs are also part of the medium to long-term challenge. "You also have a refining issue, which is not confined to the Middle East (...) you've gone from $60,000 as the daily rate for one of these [oil] tankers to over a million. So the transportation costs have gone up – it's really stunning." Burkhard says that after two energy crises in less than five years, governments are looking at different ways to ensure their energy security. "How does a country become more resilient in terms of safeguarding its energy supply? And the answer is not going to be the same around the world. Some countries may say, look, we want to produce more oil and gas in or nearby our country. Others are saying we want to move away from oil and gas. So it's a mixed response, it's not a uniform response, and it depends on the resources and options that a particular country or region has at its disposal."
Oct 2

Can AI play a role in reducing inequality?

In the debate about how best to regulate artificial intelligence, what about its role in development and aid? Warnings about the potential for exacerbating inequality are rife – but the World Bank argues that the technology could be harnessed for good. Paschal Donohoe, Managing Director and Chief Knowledge Officer at the World Bank Group, says there are concrete benefits in industries like farming, education and healthcare. "We know that artificial intelligence can play a role in crop productivity. By playing a role in helping farmers better managing what they are planting and harvesting, it has a bigger impact on their productivity and the income they gain. And I saw a very clear example of this in India, where I saw small rice farmers who, through use of artificial intelligence, were given better advice on how rice could be planted and harvested." He believes developing economies can reap the benefits of AI if it's tailored to their needs – which he refers to as small AI. "That means AI that is more appropriately adjusted to local circumstances, has a higher ability to run offline, will have the ability to operate in environments in which connectivity or electricity may not be at a very high level." Donohoe says that even as technology transforms daily life, development agencies remain focused on addressing inequality and basic needs like access to clean water, healthcare and education. "By ensuring in dealing with the development of artificial intelligence, that we do not for a moment lose sight of all [those] issues (...) We are recognising the change that is now taking place with AI, and we are making the case that while of course it brings challenges, small AI in particular, harnessed correctly with the right policies around it, can play a positive role."
Sep 25

Canada seeks new role in global economy

As trade ties with the US continue to fray, Canada is seeking a new role and new partners in the increasingly fragmented global economy. Prime Minister Mark Carney has been courting more foreign investment as well as closer ties with the European Union and Asian economies. Julian Karaguesian, former special advisor to Canada's Department of Finance and visiting lecturer at McGill University's Department of Economics, says Carney is seeking new markets for Canada's energy and critical minerals industries. "If you look at the last year, our exports to the United States fell by about 4 percent, and that cut [economic] growth. However, our exports to the rest of the world over the same period increased by 11 percent (...) so there's an adjustment going on." Read moreEurope and Canada are 'strong, even stronger together', Carney tells European Parliament Karaguesian says that while trade ties between Washington and Ottawa "can recover" from recent tensions, the relationship between the neighbours may be permanently altered. "I see it as becoming more polite beyond Trump – a little more polite or maybe a lot – but I don't see it as changing much, because they need these moneys from tariffs, from taxes. It's not clear what happens after Trump, but I just don't see it changing that much." He believes that Canada is an attractive bet for investors. "There is a lot of foreign interest in Canada, because we're offering a way of getting returns on investment that aren't in US dollars, because US bond markets and US dollar assets are looking, for lack of a better term, a little shaky; there's a lot of volatility. Canada is offering real equity stakes in the country's infrastructure, energy and so forth."
Sep 17

Food security under pressure from conflicts, extreme weather

Extreme weather and violent conflicts are threatening food production and trade across the globe. Experts are forecasting a super El Niño, which could further disrupt planting and harvests – and push millions more people into acute food insecurity. Meanwhile the ongoing wars with Iran and Ukraine are disrupting shipping and supply chains. Shawn Arita, Associate Research Professor at North Dakota State University, believes that transport problems outweigh supply concerns. "The food does exist, the availability does exist. The main issue currently speaking is that the movement is broken." He describes the Strait of Hormuz as "a fertilizer corridor," which is crucial for farmers around the world. "Approximately a third of globally exported fertilizers previously, before 2026, came through Hormuz (...) We are seeing that transmitted through supply-side concerns, through yield-side concerns, and that is putting upward pressure on cereal prices, grain prices and ultimately throughout the whole food system, for major producers across the world." Arita says high fertilizer and energy prices will continue to weigh on agricultural output. "When farmers' profit margins are weak or in many cases negative, throughout the US and for many farmers in the world, the depression of those margins leads to less output and ultimately that will feed into less food production globally."
Sep 10

International Space Summit: Europe plays catch-up with US and China

The space sector is booming. The global industry expected to reach a value of €2 trillion mark by 2040. But behind this spectacular growth lies major geopolitical challenges, particularly for Europe. In this edition, FRANCE 24’s Charles Pellegrin speaks to Kai-Uwe Schrogl at the International Space Summit in Paris. Schrogl, a political affairs adviser to the European Space Agency, answers questions about the future of the great beyond and Europe’s place in the new space race.

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The business show that goes beyond the numbers and the corporate jargon! We break down major business stories and look at how they affect our lives. Thursday at 4:45pm Paris time.