World Business Report

Switzerland and the US have reached a trade deal which cuts US tariffs on Swiss imports from 39% to 15%. That's the same as on goods from its neighbours in the European Union. In return Switzerland will shift some manufacturing to America and Swiss companies will invest $200 billion in the US by the end of 2028. But whether Swiss cheese will be included is yet to be confirmed. Andrew Peach speaks to sellers of Swiss cheese in America about how the tariffs have been affecting their business. Plus we look at how people are using apps to help them reduce their screentime

Leanna Byrne explores why global tech stocks have taken a hit this week, as investors dump AI favourites like Nvidia and Alphabet, wiping billions off market values. Google is offering to adjust parts of its advertising system to comply with a European Union order tied to a $3.4 billion antitrust penalty. And Dominos UK says Britain has reached “peak pizza” and is now turning to fried chicken in an effort to revive sales.

Lawmakers in Europe vote to limit green reporting rules for business. A boost for European competitiveness - or a backward step for the environment? And we examine the reasons why Starbucks workers in the US are going on strike.

Leanna Byrne looks at the fallout from America's federal government shutdown, which has finally come to an end, but with a warning from the White House that October’s jobs and inflation numbers might never be released. Also, the Starbucks workers going on strike on Red Cup Day. And why Scotland is issuing "kilt bonds"

We examine pledges to ease the tariff burden on some US grocery staples. How will a reduction in levies on coffee and bananas help the consumer? We also find out why food prices are going down in India and hear from Nobel laureate Joseph Stiglitz on what's driving increased global inequality. Photo by JOHN G MABANGLO/EPA-EFE/REX/Shutterstock. Coffee selection at a Safeway grocery store in Oakland, California, USA, 14 August 2024.

In Brazil, Indigenous protesters have stormed the COP30 venue in Belém over broken land rights promises. Inside, climate talks continue with shipping under scrutiny. Leanna Byrne chats with the secretary-general of the International Maritime Organisation, who’s pushing for a global carbon levy despite US and Saudi opposition. Also, a Chinese tycoon accused of running a vast scam compound in Myanmar is extradited to Beijing. And Greek farmers protest soaring costs, delayed subsidies and livestock diseases.

We examine how the longest shutdown in the US history has affected the airline industry and hear from stranded passengers and furloughed air traffic controllers. And, on day two of the COP climate conference in Brazil, we talk a South African minister on what it will take to help poorer nations fund the transition to clean energy.

Leanna Byrne gets reactions as a woman known as the Chinese crypto queen has been sentenced to jail in London for laundering billions in stolen bitcoin. Qian Zhimin was convicted of trying to launder more than sixty thousand bitcoins now worth around six and a half billion dollars. In Germany, OpenAI faces a legal setback after a court ruled it infringed copyright by reproducing song lyrics without permission. And Japan's SoftBank cashes out of Nvidia.

We hear from a worker who hasn't been paid in weeks and examine the wider impact on America's economy. And, what's happening on the opening day of the COP30 climate conference in Brazil.

Leanna Byrne looks at signs that the United States may finally be nearing an end to its record-breaking forty-day government shutdown. The Senate has voted to advance a bill to pay federal workers and reopen parts of the government but it still needs approval from the House. Also, two of Africa’s biggest diamond producers Botswana and Angola, are in talks to take control of De Beers, the world’s most famous diamond company. And in Japan, a surge in bear attacks prompting the government to roll out emergency measures and forcing companies, farmers, and local authorities to spend millions on safety precautions.

There've now been more than two-thousand flight delays or cancellations in the US linked to the continuing government shutdown. International routes aren't being affected, but many air traffic controllers who've gone unpaid are calling in sick or taking other jobs. Jamaica is set to receive a $150 million payout from its catastrophe bond after Hurricane Melissa. It's the first time it’s been triggered in full. The World Bank tells the BBC it’s a vital boost to the country’s recovery. Andrew Peach also examines Elon Musk’s trillion-dollar pay award after Tesla shareholders back a record-breaking deal that could make the world’s richest man even richer. We hear from one investor who voted against it.

The World Bank has confirmed that Jamaica will receive a full $150 million payout from its catastrophe bond, which is the maximum possible, after Hurricane Melissa met the pre-agreed trigger conditions. Leanna Byrne hears from Jorge Familiar, the World Bank’s vice-president and treasurer. Also, one of the biggest broadcasters in the UK has confirmed its "preliminary" discussions with Comcast, owner of Sky, to sell its broadcasting business for around $2 billion. And, as the US government shutdown hits 38 days, we look at one government tax lawyer in Washington DC, who is staying busy by running a full-time hot dog stand. Presenter: Leanna Byrne Producer: Ahmed Adan Editor: Gideon Long

Tesla shareholders have voted to approve a massive pay package meant to retain the services of its billionaire CEO Elon Musk. The deal requires Musk, who is already the world's richest man, to drastically raise the electric car firm's market value over a period of years. Also, U.S. passengers brace for disruption as airports cut flights amid the government shutdown. And a judge in the US state of Texas has agreed to dismiss a criminal case against aviation giant Boeing in connection with two plane crashes that killed more than three hundred and forty people in 2018 and 2019.

Maersk, a global shipping giant, has raised its full-year operating profit forecast to between $9 and $9.5 billion after better-than-expected third-quarter results. We hear from Maersk CEO Vincent Clerc. India and the European Union are intensifying their efforts to reach a trade deal by the end of the year. EU officials are in Delhi for talks. Leanna Byrne hears from one of the men at the heart of the negotiations. And the US government has warned that air travel capacity will be cut by up to 10% at 40 major airports over the coming days if the government shutdown continues. Presenter: Leanna Byrne Producer: Ahmed Adan Editor: Gideon Long

New York’s mayor-elect, Zohran Mamdani, is promising to tackle the city’s soaring cost of living. Ed Butler looks at what his victory could mean for businesses.Also, Eli Lilly and Novo Nordisk agree to slash the cost of blockbuster weight-loss drugs like Ozempic and Wegovy under a new Medicare deal. And why Shein is facing a backlash in France.

The Chinese online retailer Shein is opening its first permanent shop, using floor space in the prestigious BHV department store in the French capital Paris. But how is this seen in France? Leanna Byrne hears from a protestor and one of the managers of the building. Also, the Chinese government is using a major trade exhibition to sell the country as an investment partner after last week's meeting between President Xi Jinping and Donald Trump. An independent review looking into how to tackle health-related joblessness has warned the UK is sliding into an "avoidable crisis". And for young Ugandans, Zohran Mamdani, born in the capital Kampala and elected as New York’s mayor, his rise isn’t just political; it’s professional too. We hear from a young Ugandan Mamdani supporter. Presenter: Leanna Byrne Producer: Ahmed Adan Editor: Justin Bones

Ed Butler talks with the owner of a Chicago toy importer who's brought his tariff fight all the way to the Supreme Court. From Wednesday, the Supreme Court will determine whether wide-ranging import taxes imposed by President Trump are legal. Also on the show, one of America's best-known TV economists and authors, Andrew Ross Sorkin, on why he fears the AI investment boom could be a bubble. You can contact us on WhatsApp or send us a voicenote: +44 330 678 3033.

Tesla's China-made electric vehicle sales of Model 3 and Model Y fell nearly 10% in October from a year earlier, reversing a 2.8% increase in September. Leanna Byrne hears from Mark Rainford, founder of Inside China Auto based in Shanghai. Nintendo said it aims to sell 19 million Switch 2 consoles within this financial year, up from its previous target of 15 million for the smash-hit gadget. Starbucks, the world’s biggest coffee chain, is selling the majority stake in its business in China as part of a $4bn deal to the private equity firm Boyu Capital. Presenter: Leanna Byrne Producer: Ahmed Adan Editor: Justin Bones

The US government’s been shut down for more than a month now, and if it carries on past this Wednesday it will become the longest shutdown in US history. A group of 500 leading travel-related businesses have signed a letter asking Congress to end the month-long impasse, citing worries about the holiday travel season. Meanwhile, Lithuania's truckers’ association says some 2,000 vehicles are stranded in Belarus after the border was closed in response to last week's airspace disruption, when dozens of balloons loaded with illegal cigarettes in Belarus forced the temporary closure of Lithuania's two main airports. The EU denounced the incidents as a hybrid attack. And India is celebrating victory in the women’s cricket World Cup. The team has made history not just on the pitch but financially too. You can contact us on WhatsApp or send us a voicenote: +44 330 678 3033.

The US government shutdown appears on course to be the longest in history after President Trump made clear he has no plans to negotiate with Democrats over healthcare costs. Leanna Byrne hears from a worker and a food bank in New York. Also, Kimberly-Clark, the company behind Huggies and Kleenex, is buying the maker of Tylenol and Kenvue, in a forty-nine billion dollar deal. Almost ten years after launching its ambitious Vision 2030 plan to diversify away from oil, Saudi Arabia is pouring billions into artificial intelligence and high-tech infrastructure. Presenter: Leanna Byrne Producer: Ahmed Adan Editor: Olie D'Albertanson