Turning up the heat qatars Credit Rating is cut amid a growing political crisis. Plus hes cut ties with his Business Empire but a lawsuit claims President Trump is still flouting the us constitution. He has until tomorrow to respond welcome to World Business report. Im sally bundock. Also coming up chinas trade figures surge in may, they are surging, cheering investors but spelling more controversy in the us. Concerns are growing about economic fallout after fellow arab states cut ties with qatar over their links with alleged terrorist groups. Standard and poors has cut their rating, the stock market is down 10 in the currency is at 11 year low. Qatar is a tiny nation but a very important one business terms. It has one of the Worlds Largest reserves of natural gas it has seen exports of its Liquefied Natural Gas or lng soar in recent years. Thats made the state phenomenally wealthy it has built up one of the worlds biggest Sovereign Wealth Funds, worth around 335 billion. Its used that
And from cows to coding. We meet the woman with a remarkable career that began on a farm in rural illinois and has taken her all the way to the shining lights of silicon valley. And with polls now open in the uk General Election, we promise a politics free programme. So let us know what you make of the stories were covering today. Get in touch in the usual way. Use the hashtag bbcbizlive. Hello and welcome to Business Live. When we say politics free, we do refer to the uk election and not the politicking going on at the moment in the middle east. We start in the gulf state of qatar, where concerns are growing about the economic fallout after neighbouring arab states cut off diplomatic and trade ties over its alleged support of terrorist groups, something doha denies. Late wednesday, top Credit Rating Agency Standard and poors cut qatars Credit Rating, with a warning it could be cut further still. Its stock market is down almost 10 in the last three days, and its currency is at an 11 ye
that is one reason germany has so far been reluctant to pull the trigger on swift, though that may change. the conflict and the sanctions will add fuel to inflation, and notjust at the petrol pump and in our energy bills. russia and ukraine are major exporters notjust of oil and gas, but actually foodstuffs, wheat, fertilisers, so that is going to impact the broad food chain. i think it is highly likely now in the uk we ll see inflation reach 8%, which is a number we haven t seen in 30 years. this evening, bp was put under pressure from government to off load its 20% stake in russian oil giant rosneft. bp s boss sits on a board chaired by putin ally igor sechin. it s a grim and uncomfortable paradox that the higher prices for oil and gas rise, the more the countries dependent on it fuel the very russian war machine they are trying to stop. simon jack, bbc news. it is having a direct impact on the world of sport. formula 1 has cancelled this year s grand
cement barriers, barbed wire, checkpoints whereverring you and are filled with heavily-armed men with a grim determination to fight no matter the cost. norah. o donnell: all right, stay safe, charlie d agata. thank you. tonight the biden administration says they want vladimir ptin and the people around him to feel the squeeze in a new round of sanctions. the white house made the announcement as they tightened the economic noose around the necks of more russian oligarchs and their families including banning their travel to the u.s. cbs s nancy cordes has the details from the white house. reporter: french officials say this yacht was preparing for an urgent departure when it was seized overnight off the cote d azur. th0 milion boat belongs to igor sechin, the c.e.o. of russian oil giant rosneft. thank you alloreing here. reporter: today president biden announced the u.s. will freeze and seize the
russia there were rumors of a more primitive justice taking place. his lawyer asserted somebody has been killed as a result of the publication of this dossier. mayer continues. who that could be has been the subject of much media speculation. one possibility that has been mentioned is oleg erovinkin. a former officer and top aide to the president of russian oil giant rosneft. on december 26th, 2016 in fact