The latest business and finance news from around the world from the BBC
Low tourism in Seychelles 'accelerated' opposition win
The Seychelles elects its first president from the opposition party since 1977. With a tourism-focused economy, the island nation has been devastated by the global pandemic. We hear about its concerns over food security in the larger context of African nations. The ‘final, final’ stretch of negotiations over the UK’s decision to leave the EU are about to happen, promise experts – we mull over the final sticking points with economist Holger Schmieding. Plus, what do the stock markets make of the latest twist in the run up to the US election: Donald Trump attempts to push his favourite lawyers to the Supreme Court. Finally, the James Bond film ‘No Time to Die’ was supposed to be the savior of the covid-struck cinema industry – but now its delayed release has more people worrying.
The final US presidential debate
We analyse last night's US presidential debate from the perspective of work and money. David Taylor is with the Pennsylvania Manufacturers' Association, which represents large and small businesses in the key marginal state, and gives us his reaction. And the BBC's Samira Hussain examines the key issues facing farmers in America as they decide whether to vote for Joe Biden or Donald Trump. Also in the programme, Spencer Dale, chief economist at oil giant BP, discusses the company's plan to cut its oil and gas production by 40% by the end of this decade. Plus, the makers of Guinness have developed an alcohol-free version of the famous Irish stout. Grainne Wafer is global brand director at Guinness and tells us how it is made.
(Picture: Donald Trump and Joe Biden on the debate stage. Picture credit: Getty Images.)
Goldman Sachs to pay $3bn over 1MDB corruption scandal
US officials said the record settlement reflected Goldman's "central" role in a "massive corruption scheme". Goldman admitted it had fallen "short", calling it an "institutional failure". In all, the investment bank is due to pay about $5bn in penalties - about two thirds of its 2019 profits - to regulators around the world, to resolve cases that have severely tarnished the firm's reputation.
'Unprecedented' covid crisis for Sub-Saharan Africa
The IMF calls Covid-19 an unprecedented health and economic crisis for sub-Saharan Africa. The BBC's Andrew Walker talks us through which nations are expected to be particularly badly hit. And we hear from prominent investor Zemedeneh Negatu of Fairfax Africa Fund, who says there are many reasons for Ethiopians to feel optimistic. Also in the programme, as talks between the UK and the European Union over a future trade deal resume in London, we consider how likely it is that the two sides will reach a deal before the end of the year, with Jonathan Portes of the UK in a Changing Europe, and Roger Bootle of Capital Economics. Plus, luxury goods maker Hermes says that demand for its products is picking up again. We get reaction to the news from fashion blogger Corrie Bromfield.
Purdue Pharma plead guilty in $8bn opioid settlement
The maker of OxyContin painkillers has reached an $8.3bn settlement and agreed to plead guilty to criminal charges to resolve a probe of its role in fuelling America's opioid crisis. Purdue Pharma will admit to enabling the supply of drugs "without legitimate medical purpose". The deal with US Department of Justice resolves some of the most serious claims against the firm. But it still faces thousands of cases brought by states and families.
Plus we talk Tesla results with Susan Schmidt of Aviva Investors.
Manchester United clocks up $30m loss
Premier League football club Manchester United registered a $30m loss amid the pandemic. Kieran Maguire wrote The Price of Football and is a lecturer in sports finance at Liverpool University, and tells us what's behind the loss. Meanwhile, there is talk of Manchester United being one of the clubs in a proposed new European Super League. Tom Greatrex of the English Football Supporters Association is a member of the FA Council, which oversees the game in England, and gives us his reaction to the idea. Also in the programme, Kolkata in India is celebrating the Hindu festival of Durga Puja. Millions of people normally go to temporary temples or pandals that are set up as the city shuts down for four days, and it's an important part of the city's economy. But as the BBC's Rahul Tandon reports, it's now at the centre of a court battle over striking a balance between saving the economy and saving lives. We hear reaction from economist Saswati Chaudhury, and writer Sandip Roy. Plus, there's been an increase in pet ownership since the pandemic forced many of us around the world to start working from home. Justine Thompson is editor of the website Pet Business World News, and talks us through the positive financial impact the trend is having on pet food suppliers and pet stores.
Customer ReviewsSee All
I only have 4 podcasts I regularly consume. This makes cut, the only business one.
The coverage is good quality, but the business story selection is frequently very PC, and related to Race, identity, Feminism issues. Well it is the BBC 2020
I love Most BBC Reporting...
... but please stop your predictable pattern of turning every other story into your annoying breathless rants about gender inequality, climate crisis, race baiting, USA snarking, Trump bashing and global shaming.
If you want to flagellate yourselves over your Empire history, fine, but don’t draw the USA and other nations into your guilt trips
You act as if you are very jealous of your American cousins, get over it!
Wake-up, the majority of the world really don’t want your lectures, just the news please.