BBC World Business Report

Pressure on US to ease global economic pain

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World finance ministers meeting in Washington have been voicing their anger and frustration at the US because of the financial strains being placed on the global economy caused by its military offensive in the Middle East. Rachel Reeves from the UK described the US-Israeli war with Iran as 'folly' while France's finance minister Roland Lescure called for renewed efforts to unblock the Strait of Hormuz. The calls come as Iran's military widens its threats on shipping the Gulf to include the Red Sea and the Gulf of Oman - if the US naval blockade of Iranian ports continues. 

The International Monetary Fund has been warning of the risk of a global recession at its Spring Conference in Washington DC. There was further evidence of these concerns today. Hermes is the latest fashion house, after LVMH and Gucci-owner Kering to say sales have been weaker than expected at the start of this year...with spending hit both in the Middle East, but also fewer tourists visiting Paris and buying handbags and designer clothes. And there has been continued unrest in parts of India over wages, as the increased costs of living caused by the crisis continue to hurt the economy. 

Also in the programme - are hedge fund managers cashing in on the uncertainty of whether firms will receive refunds on tariffs?

And we discover why Google is clamping down on so-called ‘back button hijacking’...when sites mess with your browser so you can’t leave.

Presenter: Leanna Byrne
Senior Producer: Craig Henderson
15 Apr 11AM English United Kingdom Business

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