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Business Matters


Global business news, with live guests and contributions from Asia and the USA.

Global business news, with live guests and contributions from Asia and the USA.


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Global business news, with live guests and contributions from Asia and the USA.




Oil prices slump as recession odds mount

Conflict and instability are driving demand for crude oil down, but how long will it be before other prices fall? We're talking energy on Business Matters, with the help of Washington-based oil industry analyst Dr Sara Vakhshouri, and Thierry Boss, a French energy expert. Political reporter Erin Dallmore also joins us from New York. After another stormy day in British politics, a former UK Treasury official, Jeevun Sandher, tells us why the furore surrounding Prime Minister Boris Johnson may...


Shake-up in Downing Street after UK Chancellor quits

UK Chancellor Rishi Sunak has quit, saying he can no longer serve Prime Minister Boris Johnson. His resignation followed that of Health Secretary Sajid Javid. Taking over from Sunak is the former Education Secretary Nadim Zahawi. We pick through the day's events with Financial Times Whitehall Editor Sebastian Payne. With concerns over gas supply from Russia increasing in Germany, we get analysis from Dr Katja Yafimava from the Oxford Institute for Energy Studies. Sam Fenwick is joined by...


Zelensky: $750 million to rebuild Ukraine after the war

Ukraine's President Zelensky says it could cost $750 million to reconstruct the country after the war with Russia. He says it should be paid for with assets seized from oligarchs. We explore the financial impact of the changes to US abortion laws. Twenty six of the country's 50 states are either certain or considered likely to introduce new abortion restrictions or bans. Sam Fenwick is joined by Jyoti Malhotra, Senior Consulting Editor of The Print in New Delhi and Ralph Silva from Silva...


Paris strikes cancel dozens of flights

Airports in the capital of France have been told to cancel some flights due to four days of strikes. We hear from French journalist Anne-Elizabeth Moutet and the Head of Aviation at the European Transport Workers' Federation Eoin Coates. We talk to Columbia University professor Carey Leahy about the financial markets' recovery after one of the worst days Wall Street has had in decades, and the record inflation figures in the Eurozone. Disney, Facebook's parent Meta, American Express and...


Hong Kong reflects on 25 years of Chinese rule

China celebrates the 25th anniversary of the British handover of Hong Kong. But critics regret loss of liberties during Beijing's rule despite commitments to the 'one country, two systems' policy. We hear from Hong Kong’s former Chief Executive, C.Y Leung, the BBC's Martin Yip, and former Chinese diplomat Victor Gao. We also talk to local business owners in Hong Kong about the growing challenges they face since the introduction of the national security law. We hear about the grim day global...


More cryptocurrency firms in danger

As markets tumble, users are left unable to withdraw from some exchanges, and a leading hedge fund prepares to enter liquidation. Is crypto in terminal decline? Scott Chipolina, correspondent for the Financial Times, says investors are well used to challenging conditions. Sri Lanka is among the countries to be worst hit by inflation, and living standards are falling. Joseph Stalin of the Ceylon Teachers' Union, and Steve Hanke from Johns Hopkins University, tell us why a solution may be some...


Dozens dead on US-Mexico border

An abandoned truck containing dead migrants has sparked horror in North America. The US-Mexico border is among the busiest, and most dangerous, in the world. Two journalists on either side of the fence - Allysa Tellez in San Antonio, and Lillian Perlmutter in Mexico City - look at the factors driving smuggling, violence and death. Some of the world's wealthiest nations have pledged further support for Ukraine, but China wasn't at the negotiating table. Independent economist Andy Xie provides...


US reverses abortion rights

A decision to remove constitutional abortion rights has deepened divisions in the US. Pro-life leaders have welcomed the Supreme Court's decision and a number of states are already changing their laws. Critics say it will be detrimental to women's health, and to the wider American economy. Rachel Fey from the pro-choice group Power To Decide tells us why. We're also joined throughout the programme by Rhona Vonshay Sharpe, the CEO of the US-based Women's Institute for Science, Equity and Race...


Afghanistan quake: Taliban rulers appeal to aid agencies to intensify relief efforts

The Taliban in Afghanistan have appealed for international support, as the country deals with the aftermath of a devastating earthquake which claimed the lives of over 1,000 people leaving another 1,500 injured, according to local officials. In Sri Lanka, the prime minister - Ranil Wickremesinghe says its troubled economy has collapsed and the country is unable to even pay for oil imports. Mr Wickremesinghe also said he is trying to put together a conference of donors, which would...


Russia warns Lithuania over rail freight block

Russia has warned Lithuania of 'serious' consequences after it banned the transport of certain goods to the neighbouring Russian territory of Kaliningrad. Lithuania says it is only following the EU sanctions imposed over Moscow's invasion of Ukraine. We speak to Rasa Ščiukinaitė, Lithuania Director of the British Chamber of Commerce in Vilnius. Elsewhere, a British subsidiary of the mining company Glencore has pleaded guilty in a UK court to corruption offences. We hear from Alexandra...


Zelensky: Africa a 'hostage' of Russia's war

Ukrainian President Volodymyr Zelensky has called Africa "a hostage" of Russia's war, during an address to the African Union. Speaking via video link, he said Russia is trying to exploit African leaders and their people by blocking the export of Ukrainian grain from its ports. In Zimbabwe, hundreds of public sector health workers and teachers have gone on strike with organisers saying they can't afford to feed their families. We hear from the Christine Kayumba, who's Vice President of the...


The World Trade Organisation reach overfishing agreement

Vivienne Nunis is joined by journalist and co-founder of the digital news startup,The Current PK, Mehmal Sarfraz in Pakistan, and Professor of Culture at Yorksville University, Ralph Silva, from Canada. We hear from Peter Allegeier the former US Ambassador to the World Trade Organisation and President of Nauset Global LLC, about the deal on banning fishing subsidies and President Putin’s reaction to the sanctions imposed on Russia. A BBC survey of more than 4 thousand adults in the UK shows...


The cryptocurrency crash

Vivienne Nunis is joined by contributing editor at NPR, Paddy Hirsch, from Los Angeles and Bloomberg reporter, Rebecca Choong-Wilkins, in Hong Kong. The value of bitcoin has fallen about 30% in the last 10 days. We hear from one of the youngest Bitcoin millionaires, Erik Finman, about how he got involved in the cryptocurrency aged twelve. The cosmetics company, Revlon, has filed for bankruptcy protection as it struggles against massive debts and stiff competition. Lauren Thomas from CNBC...


US makes biggest interest rate rise in almost 30 years

Vivienne Nunis is joined by Chief Executive Officer at Risk Cooperative Andres Franzetti and Member of the World Economic Forum’s Expert Network, Yoko Ishikura. The Federal Reserve said it would increase its key interest rate by three quarters of a percentage point to a range of 1.5% to 1.75%. We’re joined by two business owners in Georgia and California to get their reaction to the announcement. We find out what it means for the global economy. Yoko Ishikura talks about the impact on...


US gas explosion puts pressure on prices

We're talking all about the different crises gripping global energy markets in this programme. First, an incident at an LNG facility in Texas has caused uncertainty over global supplies, with futures prices plummeting. It could be months before the plant is back online. Europe - which is already dealing with reduced supplies from Russia - now faces a shortage. In Sri Lanka, the fuel crisis continues, as people are asked to work a four day week. With the whole world seemingly facing supply...


Famine looms in Ukraine's shadow

There are warnings people could starve across the globe due to food shortages caused by the war in Ukraine. The World Trade Organisation is seeking solutions to the crisis - we'll hear from UNICEF's Rania Dagesh along with University of Maryland economist Peter Morici, and Sushma Ramachandran, a Delhi-based independent journalist. Our live guests will also discuss turbulence in the Asian markets and a potentially lucrative deal in cricket's Indian Premier League. Also on Business Matters,...


The slow death of Covid travel restrictions

The travel industry continues its path to normality with Japan reopening its doors to international travellers after two years and the US dropping Covid-19 test requirements for airline passengers. We hear more from Yukari Sakamoto, who takes tourists on tours of food markets in Tokyo. Inflation in the US rose to 8.6% in May, the highest rate since 1981. Food and energy prices led the rally with double-digit rises, but increases continue to spread throughout the economy. We talk to a...


Investigation into Tesla’s autopilot function moves to next phase

The vehicle safety regulator in the United States has upgraded its investigation into Tesla's autopilot feature after more than a dozen of them crashed into parked first-responder vehicles in four years. Our North of America Business Correspondent Michelle Fleury tells us more about the probe. Japan's inflation rate is rising but nowhere near the historic records other countries are registering. However, being used to decades of stable and falling prices, Japanese shoppers are now in shock...


Talks to unblock Ukrainian grain stall as UN warns of unprecedented hunger

Negotiations in Turkey to lift the Russian blockade on Ukrainian ports and allow millions of tonnes of grain to reach poor countries have reached a stalemate. The war threatens to unleash an unprecedented wave of hunger and destitution around the world, says UN Secretary-General Antonio Guterres. In the Horn of Africa, people in rural areas are on the brink of starvation, as Hassan Khannenje, director of Horn International Institute for Strategic Studies, tells us. The EU has agreed that...


World Bank president says it's "very difficult" to see the other side of tough economic climate

In an exclusive interview, David Malpass, president of the World Bank tell us about the economic challenges facing the world as it recovers from Covid-19 and how the war in Ukraine is hitting developing countries. We also hear from Branson Skinner, from the Or Foundation, on how Ghana is encouraging recycling of used clothes in a difficult environment. We also hear about how Indians are coping with a series of punishing heatwaves and how they plan to hit ambitious climate targets. And, as...