exports via the black sea for another two months. the existing deal was arranged last july to tackle a global food crisis caused by russia s invasion of ukraine one of the world s top grain exporters. it was due to expire today, thursday. arnaud petit, executive director of the international grains council says the extension is vital for many countries food security. you re right, it is very important to have this extension, particularly for north african, sub saharan african countries, which would import much more grains that we have seen in the past season, so really it s good news for them that they can already plan some buying contract with producers in ukraine and also in russia. and important, as you say, about russia because there maybe is a tendency to think that russia is just blocking those exports from ukraine, but this is also good news for russia, isn t it? indeed, both ukraine and russia exported 70 million tonnes of wheat during the current season and we ex
to allow millions of tonnes of grain exports from ukraine is extended just a day before it was due to expire. and chipping away at a new trade deal, the uk bets big on a semiconductor agreement with deal, the uk bets big on a semiconductor agreement with japan. hello, welcome, this is world business report, i m ben thompson and good news for the world, that is how the un secretary general as described an agreement with russia to continue allowing ukrainian grain exports via the black sea for another two months. the existing deal was arranged lastjuly, designed to tackle a global food crisis that was caused by russia s invasion of ukraine. one of the world s top grain exporters is of course ukraine. that deal was due to expire today, thursday. here is what the un chief had to say about the importance to world food supplies. these agreements matter for global food security. ukrainian and russian products feed the world. with the black sea initiative more than 10 million tonnes
we are going to focus on the top business stories. we start with a developing story we brought you this time yesterday because the european car industry is calling for a delay to tougher post brexit trade rules due to come in from january saying the supply chain is not ready. europe s car makers source many of the batteries for electric cars from asia which would see them fall foul of rules of origin regulations that specify how much of a car must be eu produced. it comes amid growing concern about the future of car manufacturing here in the uk where there is currently only one factory making batteries. stellantis owner of vauxhall as well as brands including fiat, citroen and peugeot has warned it may have to close uk factories if the government does not renegotiate the brexit deal. our economics editor faisal islam has more. earlier this week, a strong message from one of the world s biggest car makers to renegotiate details of the brexit deal, as their elec
Hello, im nicky schiller. Welcome to the programme. We start this hour with reaction to the news that us lawmakers in the senate have approved a 95 billion aid package for ukraine, israel and taiwan. President biden says he will sign the bill later today and that more arms and equipment will be sent to ukraine within a week. The overwhelming vote in favour of the deal marks the end of six months of deadlock amongst us politicians. The measures approve around 61 billion in long awaited aid for ukraine alone. It also designates more than 26 billion in aid for Military Support for israel and humanitarian aid for gaza. And 8 billion for taiwan and Us Indo Pacific allies. President biden said it showed that america stood resolutely against tyranny and oppression. President zelensky said it reinforced americas role as a beacon of democracy and leader of the free world. The Senate Majority leader Chuck Schumer said america had shown its allies it would not turn its back on them. A lot of peop
Hello. Good to have you with us. I am sally bundock. Lets now dissect the top business stories. We start in the us where tesla has revealed the biggest slump in earnings in more than a decade as the road gets increasingly rocky for the electric car industry. Tesla made profits of 1. 1 billion in the first three months of the year. Thats a fall of 55 on this time last year. Revenues were 9 lower and both numbers were worse than investors had been expecting. But tesla shares which have taken a pounding this year jumped around 11 in after hours trade after the company promised quicker progress on new more affordable models. From new york, heres erin delmore. Its been a rocky road fit for this year. High Interest Rate that taking a bite out of consumer Purchasing Power and pushing big purchases out of reach. Competition with china especially over electric vehicle maker byd is heating up. Sales have been falling and so has its stock. It up. Sales have been falling and so has its stock. So h