Business

In the antitrust trial of the century, the US Justice Department has filed for tech giant Alphabet to separate from its Chrome browser, which is used by around 3.5 billion people globally. It's also asked the District of Colombia judge to rule that if Google continues with monopolistic misconduct, it could also lose its Android mobile phone operating system as well. In this business bulletin we take a closer look at the story, as well as Nvidia's earnings call, Australia's social media ban and French President Emmanuel Macron's defence of cognac.

US President-elect Donald Trump has picked Cantor Fitzgerald CEO Howard Lutnick to lead the Department of Commerce. The businessman and long-time friend of Trump's is slated to lead the incoming administration's efforts to implement wide-ranging tariffs on goods entering the United States, in a bid to boost local manufacturing. Also in this edition: we bring you the story of one South African power plant's difficult transition to green energy.

US President-elect Donald Trump has chosen Howard Lutnick, a Wall Street executive and co-chair of Trump's transition team, to be the next US commerce secretary. The billionaire has been a key economic adviser to Trump and a keen advocate of using tariffs as a tool to protect American jobs and industries. Plus, German police have moved to break up a protest camp outside Tesla's gigafactory in Germany, as environmental activists held out in tree houses. 

The EU-Mercosur trade deal faces divisions among governments over ratification. Meanwhile, Toyota has unveiled its latest hydrogen hybrid model, and Spirit Airlines, the largest budget carrier in the US, has filed for bankruptcy amid over $1 billion in debt.

As French farmers take to the streets to oppose a potential free trade deal between the European Union and the Mercosur trade bloc in South America, we take a closer look at what the agreement entails and why the French agricultural sector and government are so strongly opposed. Also in this edition, Donald Trump nominates a fossil fuel industry CEO to head the Energy Department and a Big Tech critic to lead the Federal Communications Commission.

The APEC summit is kicking off in Lima, Peru, ahead of the G20 summit in Brazil next week. Among the world leaders attending is Chinese President Xi Jinping. His first order of business in Peru is to attend the inauguration of the Chancay port, a majority Chinese-owned mega port that's expected to become a major shipping hub for the Belt and Road initiative. Plus, slumber business is booming in Japan as sleep-deprived workers increasingly turn to improving the quality of their sleep. 

Watch moreIn Peru, residents concerned at impact of Chinese-funded mega port in Chancay

China's President Xi Jinping is expected to inaugurate a new "mega port" built by shipping giant Cosco in the Peruvian town of Chancay this Thursday. The visit comes on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum and underlines the important role played by China as a trade partner in the region, overtaking the United States. Also in this edition: a university in Ireland is now offering a degree to train the next generation of social media influencers.

Watch moreIn Peru, residents concerned at impact of Chinese-funded mega port in Chancay

As European farmers protest against a renewed push to ratify the controversial free trade agreement between the EU and the Mercosur South American trade bloc, French Prime Minister Michel Barnier has told EU chief Ursula von der Leyen that his government cannot and will not accept the deal, agreed in 2019, under the current terms. Plus, affordable housing for rent is becoming increasingly hard to come by in Paris and other cities in France. 

In its 2024 Green Skills Report, social media platform LinkedIn uses data from its 1 billion users to track the evolution of so-called "green skills" on the labour market. Their findings show that while the number of people with the skills that help combat the effects of climate change has grown over 5 percent in the year, that's not keeping up with the 11 percent increase in jobs requiring those skills. With the COP29 climate summit underway, FRANCE 24's Charles Pellegrin speaks to LinkedIn's Vice President of Public Policy, Sue Duke.

US President-elect Donald Trump has announced that SpaceX CEO Elon Musk and one-time presidential hopeful Vivek Ramaswamy will lead a new "Department of Governmental Efficiency". The pair will be tasked with advising the administration on how to "dismantle bureaucracy". Musk had previously called for $2 trillion to be slashed from government spending. Also in this edition: French farmers plan to push back on EU plans to strike a free trade deal with South America.

Oil giant Shell has succeeded in overturning a landmark 2021 court ruling that ordered it to cut CO2 emissions by 45 percent from 2019 levels by 2030. The appeals court in The Hague said that while companies like Shell had the responsibility to contribute to mitigating climate change, there was not enough consensus in climate science on a specific reduction percentage to impose on them. Plus, Facebook says it will offer users in Europe an option to see fewer personalised ads, in order to appease EU regulators. 

As Donald Trump assembles his team ahead of a second term as US president next year, we focus on what his plans to massively deport millions of undocumented immigrants will cost and what impact it will have on the economy. The total tab could end up costing close to a trillion dollars over 10 years, and the plans could lead to severe labour shortages and troubles with food supply. 

As delegates from all over the world attend the opening of COP29 in Azerbaijan this Monday, we focus on the financial needs of developing economies in their bid to transition to a green economy and build up climate resilience. A leading group of experts has calculated that, excluding China, developing economies will need $2.4 trillion annually by 2030. Also in this edition, we look at what the Trump presidency could mean for the Federal Reserve’s independence.

Japanese carmaker Nissan says it will cut 9,000 jobs globally, after net profit in the April to September period plunged 93.5% year-on-year. The company has struggled with weak EV sales in China and has missed the hybrid boom in the US. But first, Germany's "traffic light" coalition has collapsed over differences on economic policy.  At the heart of the political feud is the country's "debt brake" system. Now enshrined in the constitution, it forces balanced budgets. 

Wall Street rallied on Wednesday, bitcoin hit a new record while German auto stocks plunged. As markets continue to digest Donald Trump's comeback, Chinese consumers are bracing for a possible new wave of punitive tariffs, but a new round of a trade war could hit China's economy harder than before. FRANCE 24's Yuka Royer speaks to economist Antonio Fatas of INSEAD, who says that the promised tariffs would ultimately lead to higher inflation and hurt American consumers. 

As American voters cast their ballots, the rest of the world is watching closely since the outcome of the election will have global implications, including on trade and the economy. FRANCE 24's Yuka Royer takes a closer look at what Donald Trump and Kamala Harris may do regarding trade and tariffs. Plus, French tyre giant Michelin announces a plan to shut down two plants amid flagging sales. 

The US economy is humming, with GDP expected to grow at a healthy clip, unemployment low and inflation coming down closer to the Federal Reserve's 2 percent target. Yet polls have shown American voters are worried about the state of the economy, with home prices going through the roof. Both Kamala Harris and Donald Trump have promised to bring them down. Plus, Boeing workers are voting on a new wage offer, which could end their seven-week strike. 

Union machinists vote Monday on whether to accept Boeing's latest contract offer of a 38 percent pay raise over four years and increased 401(k) contributions. Workers are fighting for the return of the company's pension plan, jettisoned in 2014 over cost concerns. China waits for the result of the US presidential election as Beijing prepares a new round of economic stimulus.

Chinese electric vehicle maker BYD saw its revenue top 200 billion yuan ($28 billion) in the third quarter, beating its US competitor Tesla for the first time on that particular metric. Sales have been boosted by Chinese government subsidies offered to consumers willing to trade in their petrol-powered cars for EVs or hybrids. Also in this edition, new figures show that Chinese e-commerce platforms Shein and Temu represent around a quarter of all postal packages delivered in France.