World Business Report
Analysis of the big global business and economic issues, as they affect consumers and investors. Broadcast on weekdays.
What happens to the money from the Binance hack?
A record $6.3 billion has been stolen from crypto exchange Binance by hackers. It's believed that the North Korean government is behind the attack - but how can they spend it, and why is Pyongyang behind so many of these attacks? As the United States mid-term elections approach, we speak…
Binance Hit by Record $6.3 Billion Crypto Heist
Hackers steal around $6.3 billion from Binance in what could be the biggest cryptocurrency heist in history. We examine how the attack happened and what it means for the crypto industry. Also, France's economy unexpectedly shrinks as inflation rises, despite stronger growth across the wider Eurozone. And nearly two years…
What do Amazon's results say about AI spending?
Amazon has reported lacklustre Q3 results and Alphabet, the parent company of Google, shedding some $500 billion in a day. The developments come as investors question companies' massive spending on AI. European Commission President Ursula von der Leyen has explained what Canada's "associate" EU membership could look like at the…
Why Is Volkswagen Losing Billions?
Volkswagen reports its biggest quarterly loss in more than a decade, losing almost $7 billion in three months. We look at the challenges facing the German car giant as it plans thousands of job cuts. Also, Christine Lagarde announces she's stepping down early as president of the European Central Bank,…
Big tech, big money
Microsoft and Alphabet have reported their latest earnings. We' ll be taking a look at their performance as Microsoft shares surged off the back of their results while Alphabet's took a dip. European gas prices spiked, with a key contract hitting €100 for the first time since 2022 - but…
Record breaking share float of India's biggest mobile phone company
India's biggest telecom giant, the Meta and Google-backed Jio Platforms, made its stock market debut on Wednesday. The UK's finance minister, the Chancellor of the Exchequer, has revealed the government's budget plans for the next 12 months. And passengers on a round-the-world cruise ship have been told to disembark in…
Africa's biggest ever IPO
Subscription window for Africa's "People's IPO" closes today for the Dangote Refinery in Nigeria. Which has reportedly been almost three times oversubscribed, with billions of dollars' worth of orders from retail and institutional investors. We find out what it means for investment in the continent. The first three ships full…
How much will China's Mbappe boycott cost?
French football star Kylian Mbappé has apologised after a joke about China's former leader Mao Zedong sparked a growing boycott.Major brands have dropped sponsorship deals, while Chinese broadcasters are reportedly pulling Spanish football matches. We examine the financial fallout. Also, Microsoft offers voluntary redundancy to thousands of workers as it…
Anthropic share details of its IPO
One of the world's most valuable AI companies is heading to wall street. Anthropic has warned artificial intelligence (AI) could pose "catastrophic or existential risks to humanity" as it unveiled details of its planned stock market listing in the US. We hear what tech investors want from the listing. Brazil’s…
Lula's win shocks Brazil's financial markets
Lula da Silva wins fourth term as President in dramatic Brazil election comeback, but his opponent refuses to accept the result. India legalises E100 ethanol fuel for vehicles. And London's famous Oxford Street shopping district is going traffic
Oil hits $117 a barrel
In the U.S., President Trump's war in Iran has caused pain for low-income Americans. As voters go to the polls for nationwide Congressional elections, people are struggling to pay for food and fuel. The cost-of-living crisis deepens. Brazilians will be voting for a new president on Sunday in a run-off…
AI Spending Fears Hit Global Stock Markets
Technology stocks face renewed pressure across US and Asian markets as investors grow increasingly concerned about the huge sums being poured into artificial intelligence. Luke Wilson examines what's driving the uncertainty. Also, Greece becomes the latest country to introduce a social media ban for children. And Volvo announces 2,000 job…
Facebook-owner Meta fined $25 billion
A New Mexico judge has fined Meta for its handling of user data. It's the latest large legal payout for the tech firm, following an $18 billion settlement reached with California over child safety, and comes as it releases its latest financial results. Vulnerabilities in the PHP programming language have…
Cyber crisis continues for second day, with race to secure world's websites
For the second day, many websites around the world — including those of government agencies and banks — are down. These are due to vulnerabilities in PHP — a programming language that much of the internet relies on. One government cyber security official in Finland tells us how his government…
Major PHP Security Flaw Triggers Cyberattacks
Millions of hacking attempts have been detected after a major security flaw was discovered in PHP. We hear from the cybersecurity firm behind the discovery and a business whose website remains offline. Also, Electronic Arts shuts down BioWare after 31 years, cutting 400 jobs. And Airbnb is banning lengthy checkout…
Facebook-owner Meta fined $25 billion
A New Mexico judge has fined Meta for its handling of user data. It's the latest large legal payout for the tech firm, following an $18 billion settlement reached with California over child safety, and comes as it releases its latest financial results. Vulnerabilities in the PHP programming language have…
India’s biggest share sale
India telecoms company Jio Platforms has launched what is expected to be the country’s biggest ever share sale. The company, which is part of Reliance Industries and backed by India’s second richest man, Mukesh Ambani, aims to raise around $3.2bn in its initial public offering (IPO). Also, protests in Portugal…
Cost of Living Dominates US Midterms
With two weeks until the US midterm elections, Luke Wilson examines how rising living costs could influence voters and what the latest economic figures reveal. Also, Netflix reports its latest results after a difficult few months marked by job cuts and executive departures. And could Africa's economy grow faster than…
France takes a hard look at its finances
French lawmakers are continuing their scrutiny of next year's budget as the country reels from days of violent unrest. What began as protests over the cost of living and conditions in schools has escalated into some of the worst rioting France has seen in years.Thousands of people have been arrested,…
French businesses count the cost of riots
Around 2,000 businesses have been affected by riots and looting across France. We hear from those caught up in the unrest and examine the economic impact. Also, can Europe's biggest mobile operators build a rival to Elon Musk's Starlink? And Saudi Arabia postpones a major investment conference as Houthi attacks…