World Business Report

As Americans prepare to go to the polls, Will Bain is joined by the BBC's Economics Editor Faisal Islam to discuss what the US election means for both the future of the world's number 1 economy, but also the wider world.

We look at what the result might mean for the goods we trade, the prices we pay and how whoever wins will shape the direction of the global economy over the next four years.

Our North America Business Correspondent Michelle Fleury takes a look at the issues of trade and tariffs, while we're also joined by Dr Shuichiro Nishioka, Associate Professor of Economics at West Virginia University to take a historic look at what tariffs mean for the US.

The world's biggest economy added just 12,000 jobs last month, far below expectations and down from a revised 223,000 in September. At the same time, the level of unemployment hasn't risen, and consumer spending is up. So what does this mean for the election? Botswana is set to experience a shift in governing parties for the first time in nearly sixty years, largely attributed to a decline in global diamond demand. And just how much wealth exists in the world? Roger Hearing speaks to Dr Renaud Foucart who seems to have worked it out.

On World Business Report Andrew Peach looks at the clear up operation for homes and businesses in Spain where flooding has killed more than two hundred people.

In the US, jobs growth slows as hurricanes and strikes take their toll. But what does it mean for the election? We'll hear what the markets are expecting and focus on affordable housing in the swing state of Georgia.

And Hello Kitty, is fifty find out more about the feline success story.

The US stands on the verge of an election, with the final major economic data showing lower unemployment and stronger-than-expected consumer spending. But will this shift the outcome?

Plus, we’re in Arizona, a hotly contested state, where immigration takes centre stage.

And the EU opens an investigation into Temu, one of the world’s largest online retailers from China.

Sam Fenwick looks at the issues that are driving Lebanon’s economy into a downwards spiral. We look at the economic cost of war as new research suggests Lebanon's GDP could shrink by over 20% amid the ongoing conflict.

The US election is hotting up. We'll look at the cost of health care and how it might determine how people vote.

And find out why a Tasmanian ferry takes an unexpected 'Berth' more than ten thousand miles away in Edinburgh.

The UK’s new Labour government has announced its first budget with big tax rises it says are needed to restore public services. Rahul Tandon examines whether a single budget has the power to transform an economy, and the challenges facing many high-income countries as they wrestle with budget holes and high debt.

Elsewhere, embattled car giant Volkswagen reports a drop in profits, coming soon after reported layoffs and plant closures. Also, the Bank of Japan is set to announce interest rates, the first meeting since the country’s snap election.

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Trouble for Volkswagen as its profits drop and it clashes with unions over possible plant closures, Roger Hearing finds out more.

The EU imposes tariffs on electric vehicle imports from China, and there are reports from Beijing that the government is pushing its carmakers not to invest in EU members who backed the tariffs.

Britain's new Labour government sets out its first budget with big tax rises it says are needed to restore public services.

And we hear from India about the traditional push to buy gold ahead of the Diwali festival.

The European Commission has given approval for steep tariffs on electric vehicles made in China. It closes an investigation which started a year ago. They will remain in place for five years.

We hear about plans by homeware company Ikea to put money into a hardship fund for victims of the former communist regime in East Germany. Some including political prisoners were forced to make products for the company.

We hear about Tik Tok's founder Zhang Yiming. He is number one on China's Rich List with an estimated net worth of 49 billion dollars.

Presenter Rahul Tandon examines these and some of the other global business stories of the day.

The UK's lowest-paid workers could get a salary increase of 6% next year according to local media reports. We look into the consequences this could have.

Also in the programme, we talk to US voters in Nevada about their concerns regarding the rise in cost of living. And we hear about HSBC's unexpected jump in profits.

Japan’s Prime minister Shigeru Ishiba has insisted he will not step down despite a historic loss by the governing coalition in Sunday's elections. We examine the market’s reaction to the loss and look ahead to what this means for the coalition.

Meanwhile, in Germany, Volkswagen plans to close three plants, lay off thousands of workers and cut pay by 10%, according to trade unions in negotiations with the car giant. And with only a week to go in the US election, we look at Pennsylvania, tipped to be one of the key swing states that will decide the election.

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Struggling German car giant Volkswagen is planning to shut 3 factories in Germany according to the IGMetall Trade Union. We examine the problems facing the European car industry.

Georgia’s elections were won by the ruling Georgian Dream party but opposition parties claim the election was stolen.

Also, Japanese voters have given the ruling LDP a bloody nose in Sunday’s General Election. We speak to a leading Japanese economist about what happens now, now that no party has a parliamentary majority.

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Japanese voters are getting ready to take part in the country's General Election on Sunday. How will it affect Japan’s economy? We speak to business owners and find out what do they expect from this election?

Also, we look at the US election campaign in Texas, plus we learn about the very first online banner ad which went live exactly 30 years ago.

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Georgia will vote in a crucial parliamentary election this weekend. The country looks to whether their prospects will be better served with closer ties to Russia or Europe. Opposition figures hope a win for them could restart Georgia’s stalled bid to join the EU.

Elsewhere, Jensen Huang the chief executive of the chip developer Nvidia received a warm welcome in India. We look at how Nvidia might affect the microchip and AI industry there. Also, Call of Duty: Black Ops 6 is one of the year’s most hotly anticipated game releases. We examine its impact at the UK’s biggest gaming show.

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Migration is a global political issue but it is also an economic one. Canada has just announced plans to change its policy. The government will reduce permanent residency by 21% in 2025.

We will get reaction from the Canadian chamber of commerce Diana Palmerín Velasco.

Also, Rahul Tandon looks at a final day of the BRICS summit in Kazan. And find out how the US elections will impacting businesses.

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Boeing workers have been on strike for the past six weeks. Late yesterday, they rejected a new offer, which included a 35% pay rise over four years. Data suggests this is the most expensive strike in the US this year. Estimates are the strike has cost Boeing over $8 billion, with that figure expected to rise further.

Two big economic summits are ongoing this week. The IMF warns against a global trade war. Meanwhile, in Russia, the BRICS conference is wrapping up and we examine the key takeaways from the summit. And we look ahead to Japan’s snap election, which has been called by the country’s new prime minister Shigeru Ishiba.

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Boeing workers vote on pay offer on Wednesday. Workers downed tools six weeks ago after rejecting initial pay offer. They’ve been offered a 35% pay increase, over the next 4 years.

Also, we hear from migrants from Latin America who work in the fields of the US state of Pennsylvania. Tesla’s share price jumps after its 3Q results beat market expectations. And we hear why France is home to both haute cuisine and fast food.

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Leaders of the ten key BRICS nations gather in the Russian city of Kazan for the annual summit. It began eighteen years ago with Brazil, Russia, India and China. In 2010, South Africa joined. And most recently, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates were welcomed. Aiming to create what they believe is a more balanced global economy and reduce reliance on Western financial systems, we look at the impact they have on the global economy.

While IMF members are celebrating a slowdown in inflation, festivities are somewhat overshadowed by concerns about rising levels of private and government debt. As its annual conference in Washington DC is getting under way, we hear their outlook for the world’s major economies.

And with 13 days to go to the US election – we look at how border countries like Canada are viewing the prospect of a Harris or Trump presidency. Will it affect their livelihoods?

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Essential businesses and schools remain closed until Wednesday as Hurricane Oscar makes landfall in Cuba - an island already in the midst of a massive power failure. Millions have been struggling with a near nationwide blackout after a major power station came offline. The government said power is expected to be mostly restored by Monday evening. We hear how food and water are proving difficult to come by for some islanders.

The High Court in London begins hearing a civil trial over the responsibility for Brazil's worst environmental disaster - the collapse of a mining dam in 2015. Nineteen people were killed and hundreds of homes were destroyed as toxic water was released. Claimants are now seeking $47bn in damages.

And, as the 16th annual summit BRICS is about to be hosted by the Russian President VladImir Putin – we speak to Lord Jim O’Neill. He coined the synonym ‘BRICS’ but told us he felt the organisation ‘no longer knows what it stands for’. Its members - including some new ones attending for the first time - account for 40% of the world's population and around a third of the world's GDP.

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The Cuban government has declared an energy emergency after a massive power cut led to the failure of supplies across the entire country. The total blackout came after the Antonio Guiteras power plant in Matanzas - the largest on the island - went offline. The government had already suspended all non-essential public sector services in an effort to conserve supplies. President Miguel Diaz-Canel blamed the decades-long US embargo against his country for the problem. Meanwhile, in China, what do latest GDP figures mean for the country’s economy? Results show the slowest growth since early 2023, but officials remain upbeat about future growth. We examine what's contributing the country's sluggish economy. Also, the global food industry is growing rapidly - some estimates say its now worth more than $10 trillion. But there are growing concerns about how healthy some of that food is. The UN has stepped in, detailing what they want global food producers to do about food labelling.

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Beijing has stepped up efforts to boost its economy after reporting the slowest pace of growth in a year and a half.

Plus, why are we seeing a spike in tanker crashes in Nigeria?

And the Russian parliament has passed the first stage of a law to ban so-called "propaganda of childlessness" including large fines.

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The European Central Bank has cut interest rates to 3.25% to prevent a significant slowdown in the Eurozone's economy.

Leanna Byrne hears from businesses around the continent to find out how they're responding to their country's economic challenges.

Taiwan Semiconductor Manufacturing Co. (TSMC) reports a 54% increase in Q3 net profit. The company estimated its capital spending in the current quarte would more than double to around $11.5 billion and that the budget was likely to increase further next year, as it expects healthy demand for its products.

In the closing weeks of the US election, we hear from business-owners...

Also, we find out why announced Hong Kong government announced new regulations to phase out subdivided flats smaller than eight square metres.

And clocks about to change for many of us - but is there an economic case for ditching daylight saving time?

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We hear of the plight of vulnerable women in Lebanon—domestic workers who’ve been cast out by their employers as the crisis in the country deepens.

The US’ Federal Trade Commission tells Ed Butler how it plans to enforce new rules requiring American businesses to make it as easy to cancel subscriptions and memberships as it is to sign up to them.

We’ll also look at Ethiopia’s bold leap into the financial markets with its first-ever IPO, aiming to raise $255 million and lay the foundation for a stock exchange.

And Amazon dives into the nuclear energy race, joining AI giants in a quest for dominance in the energy sector.

The first people to be intercepted at sea by the Italian navy under a controversial migration deal with Albania are on their way to the Balkan nation to have their asylum claims processed. If rejected they will be sent back to countries deemed safe.

Also, in the programme, we look at the slow down is sales luxury goods firms have been reporting and the corresponding slump in their share prices.

And why Australia plans to ban “dynamic pricing” amid rising anger from fans faced with soaring prices as they try to buy in-demand tickets to see their favourite band?

And how opening of the Great Egyptian Museum (GEM) will boost the tourism in Giza?

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The IMF says the debt held by countries is likely to exceed $100tn by the end of this year. How concerned should that figure make us?

And while Ed Butler finds out why it’s been a bad day for chips (the computer ones), but a good one for (authentic) wine – as French police have uncovered a multi-billion dollar fake wine racket. The suspects are accused of creating counterfeit labels of renowned French vineyards, allowing them to sell bottles for thousands of dollars.

Google has signed a deal to use small nuclear reactors to generate the vast amounts of energy needed to power its artificial intelligence (AI) data centres. We find out why IT giant is aims to achieve limitless energy.

Also, today the world's biggest car bosses are meeting in Paris - and China's EV pioneers are bullish about the future despite the threat of tariffs...

And the World Bank has just released a report focusing on the 26 poorest countries globally. We asked Ayhan Kosi, the World Bank's Deputy Chief Economist, what challenges world currently facing?

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China says it's introducing a range of bold policies aimed at reviving its economic growth, including measures to strengthen capital markets and stabilise the real estate sector. But detail is thin on the ground - and that's having an effect on global markets.

Ed Butler hears from the World Bank as its latest report shines a light on the 26 poorest countries in the world, highlighting the severe challenges they face, from poverty to limited access to essential services.

Plus there are tributes to Lilly Ledbetter - a trailblazer for equal pay in the US, with President Biden saying she never stopped fighting for all Americans to be paid what they deserve.

The Paris Motor Show is dominated by talk about electric vehicles - how to encourage European brands against Chinese competition?

The UK gathers global investors to show Britain is open for business - but is Keir Starmer's administration going to attract what it needs?

Also, Roger Hearing is talking to one of the winners of this year's Nobel prize for Economics about why poor nations are poor.

And we'll hear about the dangers for women in India who work at night.

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Petrol prices have increased sharply for the third time this year in Nigeria. Rob Young looks at why the oil producing nation continues to hike the cost of fuel and hear what impact it's having on those who drive for a living.

We also hear about an innovative project in Kenya that's trying to help improve the health of lorry drivers, who often have an unhealthy lifestyle.

And we profile the new chairman of one of India’s largest companies.

Florida is counting the cost of Hurricane Milton, after the storm tore through the US state. Some estimates suggest it could top $100 billion. Rob Young talks to the state's chief financial officer – one of the most senior figures alongside the Governor - and asks how insurers will cope.

We'll also hear why the French government's latest attempt at cutting the nation's high level of borrowing has been met with controversy.

And we'll hear from young people in Portugal who could be offered a lower tax rate to stay in the country rather than emigrate -- as many do.

Several million people in Florida have been told to evacuate ahead of the arrival of latest storm which is expected to make landfall on Wednesday night. We ask residents and business owners how are they coping?

And we find out what will happen with the huge search giant Google after has been told by the US Department of Justice that it has to radically change its business model - and may even have to be broken up.

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In this special world business report Will Bain looks at the impact of what could happen if Google is broken up by the Department of Justice (DOJ). We examine if Google is too big and whether regulators should get involved?

More than a dozen states in the US have sued TikTok, accusing the social media platform of helping to drive a mental health crisis among teenagers. We hear the latest from the BBC's Michelle Fleury.

Also in social media, Brazil's Supreme Court has lifted a ban on X.

And as Florida braces for Hurricane Milton, we talk to a truck driver out delivering milk and find out how local businesses are preparing.

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A brewing trade war between China and the European Union heats up as China imposes tariffs on brandy imports.

Also, the Uber boss says people should be prepared to wait longer when hailing EV rideshares.

And the cities selling homes for $1

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Hurricane Milton has rapidly intensified into a category five storm as it tears its way towards the US Gulf Coast and risks impacting businesses in the area. We talk to one of the business owners and look at the current situation.

Also, we find out how expensive the future US presidential policy will be and why the "1 dollar home scheme" can help to reduce a shortage of affordable homes in Baltimore.

A lifeline for the Maldives as India signs a currency swap deal worth four hundred million dollars to help the island nation overcome mounting economic problems.

Also, Roger Hearing looks at how employment in the tech sector in the US could affect the outcome of the election there next month.

We look at what's behind the drop in German economic output.

And Vietnam's remarkable growth rate, despite last month's devastating typhoon - is it sustainable?

The big event of 2021 that will shape economies all over the world for decades to come was the COP 26 climate conference in Glasgow in November. The meeting saw a deluge of promises, but what was actually achieved? Martin Webber speaks to Tim Gould, chief energy economist at the International Energy Agency and economist Irwin Stelzer, from the Hudson Institute in the United States.

It was another boom year for the pharmaceutical industry as it crafted the vaccines that have saved so many lives. Of the 8 billion coronavirus vaccinations worldwide, one billion have been delivered by the US logistics company, UPS. We hear from Wes Wealer, President of UPS healthcare.

And small business owners have had a bleak time for much of the past year. But many of those that have survived now feel optimistic. We hear from the owner of the Aroma speciality coffee shop in Bologna in Italy, Cristina Caroli, about her year.

Covid-19 is set to prompt radical long term changes to how we live and work, so what lessons can be learnt when we eventually emerge from the pandemic? Could the changes in the way we work herald higher productivity and happier people in the future?

We hear the stories of the people who managed to thrive during a very difficult year, including the milkman who saw a boom in deliveries and the dancer who found work in South Korea when the London stage went dark.

Martin Webber is joined by Professor Devi Sridhar who holds the Chair of Global Public Health at the University of Edinburgh; economist Roger Bootle, of Capital Economics; Robert Reich, former Labour Secretary under President Clinton; Tomas Philipson, who was Chair of the Council of Economic Advisors under Mr Trump; and actor Thomas Inge who is currentl starring in the musical Cats in South Korea.