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BBCNEWS World July 5, 2024



and hot on the heels of antony blinken s visit to china. beijing will seek to improve its ties with europe. however, europe has also started to pull away from china to ensure it is not too reliant on their exports. still, there are strong economic ties between germany and china for the last seven years germany has been china s biggest trading partner in europe. so, what is at stake? i m joined by gregor sebastian economics analyst at the mercator institute for china studies based out of berlin. 0ne welcome to the programme. first of all, for the two leaders what do they want to achieve in the next few days? good morning. i mean, the first thing isjust that good morning. i mean, the first thing is just that the meeting is taking place, right? we have a radically different relationship between the two leaders now than we had in devious years. under angela merkel s meant the cabinets on the chinese and german sides had really constant and close relations and this is th ....

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BBCNEWS World Business Report July 6, 2024

so lets now get down to business starting in france where another day of disruption is ahead. eight union federations have called for strike action in what will be the 11th day of mass walk outs since the beginning of the pension battle injanuary. this comes as president emmanuel macron prepares to meet china s president xi in the next few hours. he plans to talk about the war in ukraine but is also with a large french trade delegation. meanwhile the crisis at home over pension reform has hit a fresh roadblock with last ditch talks with the prime minister over raising the pension age from 62 to 64 years breaking down. lets go live to paris, and a familiar face on this programme, tomasz michalski, associate professor of economics at the hec business school. lovely to see you. so, here we are, another day of disruption ahead which is going to be extremely difficult to manage. it was so violent in the last few weeks, your thoughts? well, this time around few weeks, your though ....

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BBCNEWS World Business Report July 6, 2024



and 48 hours to come up with the next generation of video games. we ll be hearing from the man behind the global gamejam. hello there. we start here in the uk, where the bank of england has raised the cost of borrowing for the tenth time in a row. the half a percent rise puts uk interest rates at 4%, their highest level in more than 1a years. a bonus, of course, for savers, but it piles more pressure on businesses and those with mortgages, loans and credit card debt. the good news is that the bank now thinks the uk s recession will be shorter and less severe than it previously thought, and there s a hint that rates may not have to go any higher. but a recovery could take years as our economics editor faisal islam reports. the squeeze continues. an official interest rate of 4% should not feel huge, but it does, and notjust here in nuneaton, forjoanne, who runs a furniture and gift shop. the mortgage a furniture and gift shop. the mortgage on a furniture and gift sh ....

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BBCNEWS World Business Report July 7, 2024



and avoid reputational damage. we start with the day ahead here in the uk with a new prime minister in waiting. and as you ve been hearing from day one, liz truss has a monumental task ahead, both economically and politically. rising inflation and the high cost of energy is at the forefront of voters minds with households and businesses desperate for help. no surprise then that the energy crisis is top of the new prime minister s agenda. a freeze on energy bills is understood to be one of a number of options being worked on. that could mean bills are subsidised and the current price cap ofjust under £2,000 would be maintained for two years. the cap would be repaid in loans over the next 10 to 20 years, plus help for businesses is expected to be unveiled. scottish power estimates the two year package of energy relief could cost around £100 billion. joining me now is douglas mcwilliams, deputy chairman of the centre for economics and business research. this government ....

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BBCNEWS World Business Report July 7, 2024



yes, indeed, the thought of a chip implant may send a shiver down your spine, that comes later but we begin with the latest warning from the international monetary fund. it has slashed its forecast for the global economy, saying it will grow by only 2.7% next year, with many countries in recession. in its six month update, the imf said the worst was yet to come. this forecast comes as the fund and internationalfinance ministers meet in washington. our north america business correspondent michelle fleury has more from the us capital. the international monetary fund had bad news forjust about everyone. according to its latest forecast, a third of countries will be in recession next year. and whatever growth the others have, it will be far less than they had hoped for. on top of that, the fund s less than they had hoped for. on top of that, the funds to balcomba speaking to the bbc insisted central banks must continue to raise interest rates to fight inflation. if central ....

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