of the city. france s president, emmanuel macron, signs into law his government s controversial pension reforms despite months of protests. scientists say the remains of ancient viruses which have spent millions of years hiding inside human dna help the body fight cancer. nurses in england will escalate their strike action in the coming weeks after turning down the government s latest pay offer. hello and welcome to talking business, with me, tadhg enright. let s have a look at what s on the show. can revenge spending save the world economy? after more than three years, lockdown is finally over for more than a billion people in china. they ve had time to stash trillions of dollars worth of savings. are they about to spend it travelling the world? and what s that going to mean for the rest of us? i ll be getting the lowdown on revenge spending with this top team steve odlan of the us conference board, tian lu from the economist intelligence unit in china, and gary barrowman
and are earning more than ever before. let s start with oil prices, because they ve risen some 20% over the past three weeks. this time last week, prices surged after the oil cartel, opec +, decided it would reduce its combined output by 1.1 million barrels per day. crude prices climbed after the cartel s announcement, but later in the week they steadied, following the latest us and chinese economic data which suggested weaker post pandemic growth. so where are we headed? russ mould, investment research director at aj bell joins me now. i m very excited about this. you are down by the seaside in brighton but actually here today. on the bank holiday we dragged you in. what are your thoughts about oil right now? opec + is seen as this organisation by the white house is not especially helpful when it comes to our outlook for the global economy, cutting production and causing another spike in the price of oil which is very inflationary? it spike in the price of oil which is very
with a new currency, switching from the kuna to the euro. it s just ten years since croatia joined the eu. you are watching bbc news. i ll be back at the top of the hour. now it s time for review 2022. and one story that s led news bulletins in the uk throughout the last 12 months has been rising prices and their impact. victoria valentine, along with our team of economics and business correspondents, have been reflecting on the causes and consequences of the squeezed economy and the cost of living. when big ben brought in the new year, few of us would have expected the year that was to follow. remember, in 2022 we started off very much in the grip of a global pandemic. who would have thought that another worldwide story would dominate the news agenda? tonight at 10, we are live in ukraine, a country at war, after a huge russian military offensive by land, sea and air. prices quickly rose to their fastest rate in over a0 years, and inflation touched everything, from our house
also on the show, as global leaders meet in egypt for the cop27 summit on the environment, what are the stakes for one of the most beautiful places on earth? i m going to be asking the big boss of the caribbean development bank, dr gene leon. wherever you rejoining me from around the world, a power grab at the top of china s communist party has big consequences for the global economy. yet with war raging in europe, a cost of living crisis, surging interest rates and a global energy crisis, china s president xijinping s consolidation of power at the communist party s 20th congress could easily get a bit lost amidst the noise. but china s critical place in the global supply chain, in world politics, in manufacturing and exporting and its growing power as a consumer and tourist powerhouse means that these changes are incredibly significant for the way the world s economy is going to develop in the next few years. so with the benefit of a few weeks perspective, let sjust take a