World Business Report

World Business Report


The latest business and finance news from around the world from the BBC


Third Runway at London Heathrow Approved  

Europe's busiest airport is to grow as the UK government approves a third runway at London's Heathrow. We have reaction from Graham Dunn of Flight Global magazine, Jonathan Bartley of the UK's Green Party, and Henri Pageot, who was in charge of designing Britain's new airports for several decades. Also in the programme, shares in the world's oldest bank, Italy's Monte dei Paschi, have been suspended as sceptical investors gave a mixed reaction to a rescue plan. We hear more from Roger Bootle of Capital Economics. A list of the most influential lesbian, gay, bisexual and transgender people in the world has been revealed. Suki Sandu is chief executive of Outstanding, the organisation behind the list, and tells us why Hong Kong property magnate Gigi Chao is at the top. Plus, would you pay to be James Bond for a day? The BBC's Elizabeth Hotson reports on the rise of 'immersive' experiences.

Wall Street Update  

Peter Jankowskis from Oakwood Investments on the proposed AT&T merger with Time Warner

Belgians Block Key EU Pact With Canada  

Belgium's Wallonia region has blocked the CETA Canada-EU trade deal. Professor Pierre D'Argent from the University of Louvain explains why the people of Wallonia are so opposed to the deal. Also in the programme, both US presidential candidates have expressed concern about a proposed merger between telecoms giant AT&T and the media company Time Warner. Jan Dawson of Jackdaw Research in Utah tells us why the deal is proving to be so controversial. A new venture capital fund is starting in London for businesses that are started by women. We hear more from Debbie Wosskow of the AllBright fund. The biggest companies in the world have helped carbon emissions rise to a new record, according to the UN. Dr Deon Terblanche of the UN's World Meteorological Organisation explains his research, plus we have analysis from Tom Burke, who is a former environmental policy advisor to the mining giant Rio Tinto. And Lucy Kellaway of the Financial Times tells us why she thinks the concept of creativity at work is massively overrated.

AT&T Announces Time Warner Take Over  

In the US, both presidential hopefuls have raised concerns about the proposed takeover by AT&T of Time Warner - the company behind Game of Thrones and the Harry Potter films. We'll examine some of those concerns. Why is a small region of Belgium STILL threatening to sink a EU-Canada trade deal that has been years in the making? A senior Belgian politician gives us his view. And are big banks really preparing to leave Britain? We'll get the latest from London - and one of its main competitors - Frankfurt:

Wall Street Update  

Doug MacIntyre of 24/7 Wall Street discusses the top talking points at Wall Street.

EU-Canada Trade Deal Talks Collapse  

Canada has criticised the European Union after last minute talks on the CETA free trade deal collapsed, because Brussels failed to convince the Wallonia region of Belgium to give the agreement a green light. Wallonia's reluctance has prevented Belgium from signing up and the deal cannot proceed unless all 28 EU member countries consent. We hear about the merits of the transatlantic free trade deal and the basis of the objections to it, from Piter Kleppe, the head of the Brussels Office for the Open Europe Think Tank. British American Tobacco has unveiled a $47 billion takeover for its American counterpart Reynolds. If the deal goes ahead the marriage of the two would create the world's biggest tobacco company, with cigarette brands like Camel, Lucky Strike and Dunhill. Professor Nigel Driffield, from Warwick Business School in the UK, gives us his analysis of the internationalisation of big tobacco. The authorities in Venezuela have used the courts to block attempts to remove President Nicolas Maduro from office. Senior political opponents have been ordered by judges not to leave the country. They had been finalising a plan to collect millions of signatures from voters to use the constitution to oust the president. It comes as Venezuela is suffering an economic crisis, with rampant inflation and shortages of food. Hanner Dreier, from the Associated Press in Caracas, tells us more about the turmoil in Venezuela. It has been another busy week for the BBC's Business News Team keeping you up to date on developments like the fallout from the US Presidential Debate, China's growing consumer debts and the possibility that artificial intelligence could either be the best or the worst thing to happen to humanity. We reflect on the week with Jason Abruzzese, from Mashable in New York and Darren Lazarus at the Wall Street Journal in London. (Picture: Protests against the planned EU CETA trade deal with Canada outside the Walloon in Namur, Belgium. Copyright AFP/Getty)

Clinton and Trump clash on US economy  

Hillary Clinton and Donald Trump faced each other in the last debate before the presidential election with both claiming their policies will boost the world's biggest economy. We analyse their strategies with the help of US economist Irwin Stelzer and from Arizona we hear how the region's construction industry is struggling to find enough skilled workers and create new jobs. The global mining giant BHP Billiton faced protests today at its shareholders meeting in London, as campaigners from Brazil highlighted calls for compensation for more victims of the collapse of a dam, at the Samarco mining operation. BHP and its partner in the operation, Vale, are under pressure to increase compensation, after 19 people died and rivers were polluted when the dam collapsed. We get the latest from our reporter who was at the mining company's meeting. Tanzania has confirmed impounding several ships from North Korea, which were flying the East African country's flag without permission. North Korea is subject to sanctions by the United Nations over its nuclear weapons and missiles programmes. The measures are aimed at cutting off the Asian country's ability to trade with much of the world, but if North Korean ships can simply just raise another flag then those international sanctions may be ineffective. Marc Levinson, an expert on international shipping, and the author of a book called "The Box", tells us if it is easy for a vessel to masquerade as a ship from another country. The renowned scientist Professor Stephen Hawking has claimed artificial intelligence will either transform our society, or destroy it. Billions of dollars are being spent on the development of machines and software designed to be as smart as humans. We already have examples of artificial intelligence in the shape of the digital personal assistants Siri and Cortana, developed by Apple and Microsoft. However the future is fraught with dilemmas, for example how would we feel about a robot taking care of an elderly relative? Professor Hawking was speaking at the launch of a new think tank, the Centre for the Future of Intelligence, at Cambridge University and the BBC's technology correspondent, Rory Cellan-Jones was there to monitor the debate about the merits of AI.

Wall Street Update  

Peter Jankovskis of Oakbrook Investments talks about the day's trading.

Wall Street Update 19/10/16  

Doug McIntyre of 24/7 Wall Street on the day's trading.

Tim Kaine on US Economy  

The Democratic vice-presidential nominee discusses the economic issues in the election. He was talking to Kai Ryssdal from our US partner programme, Marketplace. And we get reaction to Mr Kaine's thoughts from Diana Furchtgott-Roth, who is an economic advisor to Republican presidential nominee, Donald Trump. Also in the programme, the latest figures show steady economic growth for China. But could huge debts yet derail the world's second biggest economy? We ask Jinny Yan, chief China economist at ICBC Standard Bank. As more and more people choose to hop between jobs, the BBC's Elizabeth Hotson asks if constantly switching is good or bad for your career. Plus we hear from Silicon Valley entrepreneur Christian Smith about a gadget he's invented to help track down things you might have lost.

Wall Street Update  

Shares in Netflix impressed investors - Joe Saluzzi from Themis Trading has more.

EU-Canada Trade Deal Stalls  

Approval of the CETA EU-Canada trade deal has been postponed amid Belgian concerns. Nick Deardon is director of the campaign group Global Justice and explains why his organisation is opposed to the deal, plus we hear why companies in Europe are in favour of the deal, from Markus Beyrer, director general of Business Europe. Also in the programme, our economic commentator Roger Bootle of Capital Economics considers why the British pound has fallen almost 20% in value against the dollar since before Britain's EU referendum. Japan has said that the costs of holding the Olympic Games in Tokyo have spiralled out of control. We have analysis from Michael Payne, who was the International Olympic Committee's first ever marketing director, from 1983 to 2004. Plus the British astronaut Tim Peake has given a boost to the UK space industry, by opening a rocket propulsion factory in Belfast, Northern Ireland. The French company Thales is behind the project, and we find out more from its chief executive, Victor Chavez.

Wall Street Update  

Peter Jankovskis of Oakbrook Investments in Chicago, with his take on today's US trading.

Iraq Troops Make Gains in Push on Mosul  

A huge offensive has begun by the Iraqi government to recapture the city of Mosul. We find out how Iraq's economy is bearing up from Amar Karim, a journalist with Agence France Presse, based in Baghdad. Also in the programme, China has launched two astronauts into orbit. We find out what impact the mission will have on the Asian space race, from Rajeswari Rajagopalan, head of the Nuclear and Space Policy Initiative at the Observer Research Foundation in New Delhi. A so-called 'Monsanto Tribunal' was held in The Hague in the Netherlands last weekend. It had no legal powers, but was an attempt to assess allegations of damage to people and the environment by agri-chemical companies. The BBC's Anna Holligan went along to find out more. The latest Disney blockbuster was inspired by a Ugandan chess champion, as the BBC's Catherine Byaruhanga reports from Kampala. Plus Lucy Kellaway of the Financial Times explains how not to say sorry if you're a business.

Wall St Update  

The big US banks post better than expected results

Saudis Join $100bn Tech Fund  

The biggest contribution to Softbank's investment fund is $45bn from the Public Investment Fund of Saudi Arabia. What do the Saudis stand to gain from the deal? We ask Dr John Sfakianakis, Director of Economic Research at the Gulf Research Centre in Riyadh. The tech fund will be based in London - Russ Shaw of Tech London Advocates explains what this could mean for the tech sector in the British capital. A British trader accused of contributing to a flash crash in 2010 has lost his battle against extradition to the United States. Navinder Sarao faces 22 charges, carrying sentences of up to 380 years. The BBC's Andy Verity reports from the High Court in London. Alaska isn't that well known for its home-grown food, but this could be changing. Over the past six years, it's become the capital of indoor farming in America - indoor, that is, using what's called high-tunnel agriculture - essentially four-metre-high rounded greenhouses. Emily Schwing has been sampling the fruits – and vegetables – of their labour. And we look back at the week's main headlines: Samsung's Note 7 woes, the latest fallout from the Brexit vote and why US workers are reluctant to take a break and use their holiday entitlement. We reflect on these stories with Elaine Moore of the Financial Times in London and Shannon Pettypiece of Bloomberg News in New York.

Wall Street Update  

Rob Young catches up on news of Yahoo and an uncertain day for markets with Cary Leahey of Decision Economics. The Dow ends the day down a third of a per cent at 18, 098.

Thailand Mourns Death of King  

King Bhumibol Adulyadej of Thailand has died at the age of 88. He was the world's longest-reigning monarch, and was widely revered as a stabilising figure, in a country hit by cycles of political turmoil and multiple coups. We hear from Richard Ehrlich of the Washington Times in Bangkok. Chemicals in fridges and air-conditioning units have long been blamed for contributing to global warming. Representatives from 200 countries are meeting in the Rwandan capital Kigali to discuss the phasing out of hydrofluorocarbons - or HFCs. These were introduced in the 1990s as an alternative to other chemicals which were damaging the Ozone layer. They’re now feared to have made the problem even worse. The BBC's environment correspondent Matt McGrath reports from the conference. Kenya Airways has suffered from falling ticket sales and industrial action for years. Now, pilots are threatening to go on strike indefinitely – the BBC’s Michael Kaloki in Nairobi explains this latest bout of turbulence for the airline. And we hear from South Africa - the world's seventh-biggest producer of wine by volume. But now South African wine producers are now targeting shoppers close to home -- the growing middle class of sub-Saharan Africa and Nigeria in particular, from where the BBC’s Ijeoma Ndukwe reports. (Photo: Thai women react after reading confirmation of the death of Thailand's King Bhumibol Adulyadej. Credit: Borja Sanchez Trillo/Getty Images)

Wall Street Update  

Markets stabilise on Hillary Clinton's lead in the US election race, says Doug McIntyre from 24/7 Wall Street.

Pound Sees Further Volatile Trading  

Britain's pound is having a bit of a rollercoaster ride at the moment. We ask London Business School economics professor Richard Portes if currency markets have turned into a casino, or whether they're doing a good job of valuing sterling. Also in the programme, after the exploding smartphone fiasco, the damage to Samsung grows by the day, and it's now warned about its profits. The BBC's Stephen Evans in Seoul brings us the latest developments. The BBC's Guy Hedgecoe gauges the health of the Spanish economy by focusing on the bar and restaurant sector. Plus research indicates that more than half of American workers don't take all of their holiday entitlement. We find out more from Katie Denis, who runs Project Time Off, an organisation that encourages people to go on leave. (Picture: Traders at their desks. Picture credit: AFP.)

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