threatens a french institution the baguette. we find out how many of the country s 35,000 bakeries will survive. good to have you with us. it s that time of year when the global elite gather in the swiss alpine ski resort of davos. the theme for the world economic forum is cooperation in a fragmented world, and top of the agenda will be the global economy which according to the world bank is perilously close to falling into recession . it expects the world economy to grow byjust 1.7% this year. what can the global leaders do who are gathered in davos? critics argue it s a talking shop that rarely leads to significant change in solving the worlds problems. brian coulton is chief economist at fitch ratings. brian, good morning to you. when we look at the official agenda for davos, the list is long. there is an awful lot to discuss, but when it comes to the state of the global economy, that will dominate, won t it? it economy, that will dominate, won t it? ~ , won t it? it
just about everything nowadays has silicon chips in it, from phones and computers to kitchen appliances and cars. but the world has been facing a chip shortage, which has exposed just how dependent we all are on semiconductor manufacturers in asia, with the vast majority of chips produced by the taiwanese company tsmc. among those who want to wrestle back some of that market share is the us. today, president biden will sign into law a bipartisan bill to boost microchip manufacturing in the us. the $280 billion package is aimed at addressing supply chain problems exacerbated by the coronavirus pandemic. supporters call it a win for the nation s economy and security. here s our north america correspondent michelle fleury in new york. microchips, the digital brains of every piece of technology around us. but a global shortage has disrupted everything from the production of cars to household appliances.- of cars to household appliances. of cars to household a- liances. ., appli
hello, i m sally bundock with the top business stories, and we begin with the upcoming face to face meeting between us presidentjoe biden and china s president xi jinping. the two leaders are meeting on wednesday on the side lines of the asia pacific economic cooperation summit in san francisco and the world will be watching to see if they can soothe their fraught economic and diplomatic relationship. in their first face to face talks in more than a year, they are expected to discuss the ongoing trade row between the two countries, as well as washington s measures to restrict beijing s access to advanced computer chips, citing people familiar with the matter. let s discuss this with brian coulton chief economist at fitch ratings. good morning. we will talk about the cletus meeting on wednesday but today finance leaders are gathered. what is expected from them? i leaders are gathered. what is expected from them?- expected from them? i think there will expected from them? i
Required give and take on both sides. I believe that the joint report being published is in the best interest of the whole of the uk. European banks rally as global supervisors finally sign off on agreements ten years in the making the chair of the Basil Committee says the compromise reached was worth that long struggle it was not so easy to get to the number 72. 5, but give than we do have a compromise, everybody has signed off everybody is prepared to implement it in this particular way. A shutdown averted for now President Trump will sign a shortterm funding bill to keep the u. S. Government in motion for another two weeks as the search continues for a political compromise a positive start across europe this morning. The stoxx 600 up 0. 4 . A lot of green on that board alo lot of that driven by marke sentiment about these votes. We can see that the ftse is up nearly 0. 2 . The xetra dax strong start to the day, up more than 1 the cac up in 0. 3 the ftse mib up more than 1 lets look
X are preparing to ditch the u. K. At least the republican senator say they will vote to block the current version of their partys health care bill. What does this mean for tax reform . This is bloomberg surveillance. Mario draghi will speak shortly. We also have all your currency checks. Ecks. First things first, lets check quickly on your stock market. Global stocks, mixed. Investors believing an appearance by janet yellen. She speaks in london later today. They are looking to her for a close on the outlook for President Trump says the Supreme Courts partial revival of the travel ban is a clear victory. People from six majority muslim countries will now be barred, unless they show a genuine relationship with a personal entity in the u. S. The court will consider in october whether the executive order is constitutional. Republican senators will look to block the latest version of the partys health care bill. A new estimate from the Congressional Budget Office found the bill would leav