World Business Report

World Business Report

Finland

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

Episodes

Indian Economy May Wobble on Cash Crunch  

The Indian government's decision to withdraw higher-value banknotes has led to confusion

Wall Street Update 6/12/16  

Joe Saluzzi of Themis Trading in New Jersey on the day's trading.

Kenya's Economic Challenges  

Vivienne Nunis reports from Mombasa in Kenya on challenges facing the country's economy

Wall Street Update 5/12/16  

Peter Jankovskis of Oakbrook Investments on the day's trading.

Italy's PM Resigns After Referendum Defeat  

We ask whether the prime minister's resignation will threaten Italy's financial health. The BBC's Gavin Lee gauges the referendum result reaction in Italy, and we have analysis from economist Nicola Nobile from Oxford Economics in Milan. Also in the programme, US president-elect Donald Trump has irked China by talking to Taiwan's president. The BBC's Cindy Sui in Taipei tells us about the response in Taiwan. Ghanaians go to the polls on Wednesday, and the current administration's management of the country's economy has been a talking point on the campaign trail, as the BBC's Akwasi Sarpong explains from Accra. Plus Lucy Kellaway of the Financial Times tells us why she has no faith in company bosses who say they 'love' their employees. (Picture: Italian Prime Minister Matteo Renzi. Picture credit: AFP.)

Italian Prime Minister Matteo Renzi To Resign  

Italian Prime Minister Matteo Renzi says he'll resign after being defeated in the country's constitutional referendum, tipping the euzo zone's third-largest economy into turmoil. Austria Presidential Election has ended with the right-wing freedom party candidate, Norbert Hofer, conceding defeat to the former Green party leader Alexander Van Der Bellen. And the company that provides almost a quarter of Europe's electricity, EDF, is facing safety investigations a a number of its nuclear power plants.

Wall Street Update  

Chris Low of FTN Financial discusses the US employment figures

Italy's referendum threatens to crush Renzi  

On Sunday, millions of Italians head to polling stations to decide whether their constitution should be reformed. The vote is seen as the biggest threat to European stability since the UK's referendum on EU membership in June, because of the political and financial chaos a “No” vote could cause. Lorenzo Codogno, a former chief economist with the Italian government explains the likelihood of this. The mayors of four of the world's major cities say they will ban the use of all diesel-powered cars and trucks within a decade. Buses are a big part of the city pollution problem. We speak to Hakan Agnevall, president of the Volvo Bus Corporation who says their electric buses can play a big part in the solution. Barbados is celebrating 50 years of independence. The island nation has a lot to be proud of, but there has been a long recession since 2008 and there are question marks about basing an economy so heavily on tourism. Guy Hewitt, the High Commissioner for Barbados in the UK, explains why they still retain free education and healthcare systems in such an economic environment. Plus Elaine Moore of the Financial Times and Shelly Banjo of Bloomberg talk us through the big stories of the week.

Wall Street Update  

Cary Leahy of Decision Economics comments on the day's trading on Wall Street

Donald Trump Makes Controversial Appointments  

Donald Trump promised American voters he was going to "clear out the swamp" of Washington insiders. Now he's appointing some of Wall Street's biggest names to key positions. We ask if there's a contradiction. Could a highly euro-sceptic party be poised to win the Presidency in Austria? We look at the economic implications. A grumpy mountain animal from Peru provides what may be the ultimate fox deterrent for turkey farmers. And we hear about the man being dubbed "the luckiest thief in history".

Wall Street Update  

Doug McIntyre of 24/7 Wall Street talks OPEC production cuts and Trump's Treasury pick

Oil Price Soars As OPEC Agrees Production Cut  

The oil-producing countries of OPEC have agreed their first production cut in eight years, sending the price of crude surging more than 8%. Will the countries hold to this agreement? Miswin Mahesh, an oil analyst at Barclays, talks us through the deal. During his campaign Donald Trump promised to "drain the swamp" of special interests, with particular reference to Wall Street insiders, so it has raised some eyebrows that he has appointed former Goldman Sachs investment banker Steve Mnuchin as the US Treasury secretary. Zachary Mider of Bloomberg tells us more about the man and his promise to effect the "largest tax change since Reagan". India is still the fastest growing major economy in the world, confirmed by its latest GDP figures. These numbers, however, don't include the effect of the recent bank note withdrawals. Yogita Limaye in Mumbai tells us how analysts and business owners are factoring in a major drop in demand for the near future. Zambia recently cut fuel subsidies to reduce its budget deficit, but the move is proving painful for people and small businesses. Kennedy Gondwe reports from Lusaka, where the cost of transport has risen on average by 35%. The history of Belgian beer stretches back centuries to medieval monks, and now Unesco is being asked to add the drink to its Intangible Cultural Heritage list. Beer sommelier Jane Payton explains why Belgian beer is deserving of such recognition.

Wall Street Update  

The oil price plunges ahead of latest OPEC meeting, says Joe Saluzzi from Themis Trading

'Justify Executive Pay' Says UK Government  

The British government is trying to tackle what some see as excessive pay at top companies. We ask Paul Nowak of the Trades Union Congress whether he thinks new measures to make company boards more accountable will work. And we have analysis from our regular commentator, Roger Bootle of Capital Economics. Also in the programme, there's concern over Zimbabwe's new currency, bond notes, which have been brought in to tackle a shortage of US Dollars. The BBC's Matthew Davies has been watching events from neighbouring South Africa. Lithium has become a hot commodity, with demand expected to triple in the next ten years. We find out more from Henk van Alphen, chief executive of the Canadian lithium producer Wealth Minerals. Plus with previously unheard music from Prince being released, the BBC's Hasit Shah asks what his real legacy will be.

Wall Street Update  

How have US markets reacted to Italy's banking worries?

Italian Bank Shares Slide Ahead of Referendum  

Shares in Italian banks have fallen amid speculation Italy's prime minister could lose a crucial vote. We assess the health of Italy's banking sector with Isabella Buffacchi, a financial journalist from Rome's Il Sore, and have a report from the BBC's Tony Bonsignore. Also in the programme, following the death of Cuba's former president Fidel Castro, we hear the hopes of Cuban exile and senior scholar at the University of Miami's Institute for Cuban American Studies, Jose Azel, on the future of US-Cuba relations. The cost of decontamination efforts and compensation resulting from the Fukushima nuclear disaster has more than doubled to around $180bn. The BBC's Rupert Wingfield-Hayes in Tokyo brings us the details. Plus our commentator Lucy Kellaway of the Financial Times gives tips on how to overcome any fear of public speaking. (Picture: An Italian bank branch.

Italian Bank Shares Slide Ahead of Referendum  

Shares in Italian banks have fallen amid speculation Italy's prime minister could lose a crucial vote. We assess the health of Italy's banking sector with Isabella Buffacchi, a financial journalist from Rome's Il Sore, and have a report from the BBC's Tony Bonsignore. Also in the programme, following the death of Cuba's former president Fidel Castro, we hear the hopes of Cuban exile and senior scholar at the University of Miami's Institute for Cuban American Studies, Jose Azel, on the future of US-Cuba relations. The cost of decontamination efforts and compensation resulting from the Fukushima nuclear disaster has more than doubled to around $180bn. The BBC's Rupert Wingfield-Hayes in Tokyo brings us the details. Plus our commentator Lucy Kellaway of the Financial Times gives tips on how to overcome any fear of public speaking. (Picture: An Italian bank branch. Picture credit: AFP.)

Italian Bank Shares Slide Ahead of Referendum  

Shares in Italian banks have fallen amid speculation Italy's prime minister could lose a crucial vote. We assess the health of Italy's banking sector with Isabella Buffacchi, a financial journalist from Rome's Il Sore, and have a report from the BBC's Tony Bonsignore. Also in the programme, following the death of Cuba's former president Fidel Castro, we hear the hopes of Cuban exile and senior scholar at the University of Miami's Institute for Cuban American Studies, Jose Azel, on the future of US-Cuba relations. The cost of decontamination efforts and compensation resulting from the Fukushima nuclear disaster has more than doubled to around $180bn. The BBC's Rupert Wingfield-Hayes in Tokyo brings us the details. Plus our commentator Lucy Kellaway of the Financial Times gives tips on how to overcome any fear of public speaking. (Picture: An Italian bank branch. Picture credit: AFP.)

Wall Street Update  

Douglas McIntyre of 24/7 Wall Street rounds up the US markets

Shoppers Catch Black Friday Retail Fever  

Shoppers in the US and other countries have been crowding into malls and main streets looking for bargains on the day the American retail trade knows as Black Friday. However the traditional day when US retailers hope a year of being in the red will see profits push into the black, is also catching on in other countries, even though they are not celebrating the Thanksgiving holiday. We bring you a flavour of the scene outside a Macy's store in New York City and we get a report from Nigeria, where retailers are hoping to stoke up bumper sales. Some population experts are predicting a wave of migration to the US before Donald Trump takes over as president in January. During the campaign the president-elect talked about building a wall between Mexico and the United States, to keep a lid on illegal immigration. But migrants who want to start a new life in the US are not only from Mexico as increasingly more are coming from countries like Brazil, where the economy has collapsed. Work for hundreds of thousands of Brazilians, from street sellers to construction tradesmen has dried up since the end of the Olympics in Rio de Janeiro. The BBC's Joao Fellet in Washington tells us Brazilians have few ways of migrating legally to the US and most of them arrive using a tourist visas and then just stay. Think of a country where tea is grown and you will probably conjure up images of China or plantations in East Africa, but it is unlikely you will think of England. The British are known as tea drinkers, but thanks to warmer weather a tea growing industry has sprung up in the south west of England. BBC Business Reporter Joshua Thorpe visits the UK's oldest commercial tea plantation in Cornwall, to find out if the industry will ever rival Kenya or Sri Lanka. Friday brings an end to another busy week for the BBC's Business News unit, reporting on developments like President elect Donald Trump announcing he will withdraw the US from the TPP Asia Pacific trade deal, or Facebook looking at ways to tweaking its software to facilitate censorship in China. We reflect on the week with Soumaya Keynes, from the Economist in London and Charles Forelle, at the Wall Street Journal.

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