Billion of foreign currency. But one of the biggest impacts globally has been on the Oil Pricejumping up by 5 on monday at one point it has since stabilized. Heres sameer hashmi. Joining me now is amrita sen, dounder and director of research at energy aspects. Give us your sense of what is happening right now. Prices are easing off a little but it is a wait and see mode, isnt it . Absolutely. What the market is afraid of is a wider escalation in the region. Obviously the market is focused on that and is worried about that. What the price reflect reflecting, around 88, is the unfounded fears from last week is that the initial us, israel, saudi diplomacy might lead to the cuts to happen earlier. The important events over the weekend definitely produce talks on hold, if not derailed them completely. That is why prices moved up completely. That is why prices moved up 4 yesterday. Completely. That is why prices moved up 496 yesterday up 496 yesterday. Israel and gaza are not bi oil up 496 y
In good jobs news from the us. This is what europe is doing in the first half hour of trading. Fuelling demand for more gas. We speak to the head of one of the worlds oldest private Exploration Firms about keeping the lights on around the globe. And as new York Based Company Wework Annoucne A 500m Expansion In Asia let us know what do you love or hate about your office. Tweet using the hashtag bbcbizlive. They very warm welcome. A lot to get through, including things you like or maybe do not like about the state of your office with the news that wework is expanding. Prosecutors in south korea are demanding a twelve Year Prison Sentence for the heir to the samsung business empire. Samsung covers all sorts of businesses, a conglomerate made up of different entities and is caught in the midst of a huge corruption allegation. Hearing in Lee Jae Yongs trial, the prosecution said he was the ultimate beneficiary of the crimes. The Corruption Scandal brought down the countrys former president.
With sally and World Business report. A Record Number of uk oil and Gas Companies went bust in 2016 but could this be the year the price of the black stuff bounces back . Ringing the bell for 2017. Where should you put your money this year . And will economists or Fortune Tellers have the upper hand on predictions . Welcome to World Business report. Im sally bundock. Also in the programme, live in singapore to hear how the city states economy is faring and you may be surprised. But first the number of uk oil and Gas Companies going bust has reached an all time high following the slump in prices of crude. Thats according to Accountancy Firm Moore Stephens who say a total of 16 businesses became insolvent last year, an eight fold increase on 2015. Despite the recent increase in the price of the black stuff, atjust under 60 a barrel its stilljust over half what it was in the summer of 2014. That price point has hit the industry hard and the new year marked the start of the first global pa
And World Business report. Weighing the arguments a federal Appeals Court hears the case for and against president trumps controversial travel ban we talk you through whats at stake. And Share Markets in india soar on the hopes its central bank will cut Interest Rates to revive the economy but will it deliver. Well be live in mumbai for the latest. Welcome to World Business report. Im sally bundock. Also in the programme. Growing a new crop . The farmers who put solar panels in their fields. All will be explained. But first we start with president trumps travel ban which has faced its toughest test yet. A panel of Appeals Courtjudges hammered away at the governments arguments that the ban was motivated by terrorism fears. But they also asked pointed questions over claims it targeted muslims. The hearing was conducted by phone an unusual step and while no verdict was announced a spokesman for the court said its likely to come later this week. Whatever the court eventually decides, eithe
With sally and World Business report. President trumps expected to ditch obamas Clean Energy Policies later today but the big question, will the move really help to boostjobs . And hit the road, jack. Ubers Self Driving Cars are going back on the road after a crash in arizona. Welcome to World Business report. Also American Airlines and chinas Biggest Airline agree a strategic partnership, rico will have all the detailfor partnership, rico will have all the detail for you partnership, rico will have all the detailfor you injust a moment. After weeks of delay and speculation, President Trump is finally expected to issue an Executive Order later today that will start to dismantle president obamas Clean Energy Policies. This includes a sweeping Environmental Protection agency rule that mandates cuts in Carbon Emissions from power plants. Its also expected to quickly end the freeze on new Coal Mining Leases On Federal Lands and reverse rules to curb methane emissions. During his Election C