World Business Report
Analysis of the big global business and economic issues, as they affect consumers and investors. Broadcast on weekdays.
Deutsche Bank suffers
Our presenter Roger Hearing discusses the banking crisis as high profile investors fear there are more pockets of distress yet to emerge after the collapse of Silicon Valley Bank, Signature Bank and problems at Credit Suisse. Museums come under the spotlight as the Acropolis Museum in Athens today welcomed back…
Europe's banking woes
Our presenter Will Bain we be taking a look at Europe's Banking situation as Deutsche Banks shares fell by 14% and other banks are struggling. We will be hearing from the former head of the European Central Bank Peter Hahn on what he thinks is going wrong. The China Development…
Europe's banking woes
Our presenter Will Bain we be taking a look at Europe's Banking situation as Deutsche Banks shares fell by 14% and other banks are struggling. We will be hearing from the former head of the European Central Bank Peter Hahn on what he thinks is going wrong. The China Development…
TikTok's CEO plays down ties with China in US Congress grilling
The Chinese app's boss, Shou Zi Chew, tried to defend the firm during a hostile questioning from the US House Committee on Energy and Commerce. We analyse what we learnt about TikTok from the hearing.
TikTok CEO gives evidence to the US congress
TikTok's boss Shou Zi Chew faced a grilling by the US congress over the safety of the social media app. TikTok is owned by Chinese company ByteDance and there are fears that the owners will share data with the Chinese government. The video hosting service has 150 million US users…
The Fed raises rates again
For the ninth time in a row, the US Federal Reserve has increased interest rates, up by 0.25%. Announcing the rise Federal Reserve chairman Jerome Powell said the Fed is focused on tackling inflation. Roger Hearing gets reaction from both Wall Street and Main Street to the news. Argentina's economy…
All eyes on the US Federal Reserve
The US Federal Reserve will decided on whether to raise interest rate as they struggle to stabilise prices due to the rising cost of living. The collapse of two regional banks this months has highlighted their risks. Ukraine has reached an agreement with the International Monetary Fund to secure more…
Russia looks to China for an agreement on a new gas pipeline
Russia is looking to sign an agreement with China to build a new pipeline through Siberia. Moscow put forward the idea many years ago, but it has gained urgency as it turns to China to replace Europe as its main gas customer. Google is rolling out it’s AI Chat Bard…
Sri Lanka bailout: Will it really get better?
IMF has approved a $3bn bailout package for the bankrupted Sri Lanka. The nation's foreign minister pledged to reconstruct its state-own enterprises and their national airline but it seems like there is still a long road ahead for the island in South Asia, after getting multiple blows by the pandemic,…
Sri Lanka's $2.9bn bailout by IMF
Sri Lanka has secured a $2.9bn bailout from the International Monetary Fund as it faces its worst economic and social crisis since independence. A day after UBS Bank brought Credit Suisse out of financial trouble uncertainty in the markets have calmed down. The former finance Minister of Canada Joe Oliver…
Why has Credit Suisse been taken over?
Banking stocks remain under pressure in London and across Europe today after the takeover of Credit Suisse by rival Swiss bank UBS failed to calm markets. Will Bain talks to companies affected and financial experts about the implications for the global financial system.
Global share markets unconvinced by support to rescue banks
Half a trillion dollars have been wiped from the value of bank shares around the world as financial shocks dived this week. The fallout is ongoing after the collapse of Silicon Valley Bank (SVB) spreads through global markets. The authorities are stepping in to get the situation under control, but…
First Republic: 11 US banks ride to rescue
Another bank bail-out has taken place this week. 11 giant US financial institutions said they will deposit $30 billion dollars in California’s First Republic Bank, to try to revive it from a whirling financial storm. Familiar names like J.P. Morgan and Citi are among those institutions which join the unusual…
First Republic: 11 US banks ride to rescue
Another bank bail-out has taken place this week. 11 giant US financial institutions said they will deposit $30 billion dollars in California’s First Republic Bank, to try to revive it from a whirling financial storm. Familiar names like J.P. Morgan and Citi are among those institutions which join the unusual…
Major US banks come up with $30bn to rescue First Republic
Eleven US major private banks have confirmed they have launched a thirty-billion-dollar rescue package for First Republic Bank. And what about those who never use banks at all? We hear about the challenges for the billions of unbanked people and businesses around the world. Protests in Paris as the French…
Credit Suisse gets $54 billion lifeline
Credit Suisse accepted a $54 billion bailout fund from Switzerland’s Central Bank, after its share price plunged up to 30% on Wednesday. The nation’s second largest bank’s stock price rebounded on Thursday but with issues surrounding the bank for years, investors are asking if the bailout money will save it…
Swiss central bank ready for Credit Suisse support
Credit Suisse could be in line for support from regulators if it is needed. The comments from the Swiss National Bank come after shares in Credit Suisse plunged 24% to a record low. Banks in Lebanon are facing a crisis with depositors holding some up to get their deposits out…
Swiss central bank ready for Credit Suisse support
Credit Suisse could be in line for support from regulators if it is needed. The comments from the Swiss National Bank come after shares in Credit Suisse plunged 24% to a record low. Banks in Lebanon are facing a crisis with depositors holding some up to get their deposits out…
Credit Suisse: the next bank to collapse?
The share price of Credit Suisse took another nosedive in the markets, hitting its all-time low for the second consecutive day by tanking up to 30% as Saudi National Bank, the Swiss bank's largest backer, ruled out the possibility of further financial help. Share indexes across the world including the…
Facebook owner Meta announces plans to cut 10,000 jobs
Meta, which owns Facebook, Instagram and WhatsApp, is cutting 10,000 jobs. The tech giant laid off 11,000 employees last November. China is to start issuing tourist visas to travellers for the first time in three years. The last cross-border control measure was imposed to guard against Covid-19 and comes after…