Business

The French government is seeking €54 billion in savings in its 2027 budget proposal, as it faces pressure over its ballooning public debt. But it's likely to face opposition, especially on proposals that would cap pension increases. Meanwhile, protests by high school students over resources and conditions in classrooms have spread across the country, with the budget likely to further inflame tensi...

US President Donald Trump discussed AI development with dozens of tech bosses at the White House on Tuesday. Ahead of his "super intelligence" luncheon, Trump launched a new AI-powered website for government services, vowing not to stifle the technology's growth. He also said he didn't want to work with Chinese President Xi Jinping on AI oversight. Plus, dozens of dogs are rescued from a breeding...

OpenAI, the company behind ChatGPT, has decided to cancel the release of its latest agentic model Astra 6.1 because it did not meet safety standards. Rival AI firm Anthropic, meanwhile, is dedicating a large majority of its IPO prospectus to laying out the risk factors associated with AI, according to Reuters. Also in this edition: Russia adds another layer of secrecy to its energy sector and NASA...

Trade unions in France have called on public sector workers – from train drivers to teachers, health workers and police officers – to stop work and protest at the government's plan to freeze the public sector's pay index, just days before the government is set to unveil its draft budget for 2027. Plus, as Paris Fashion Week kicks off, we speak with an expert on what the struggling luxury sector ne...

Flights between Iran and the United Arab Emirates have been suspended, following tighter US sanctions on Iran's aviation industry. The move effectively cuts Tehran off from Dubai, one of the region's most important commercial hubs. There are also huge backups near Iran's border with Turkey, as overland shipping routes struggle to fill the gaps. Also in this edition: Donald Trump and Xi Jinping hai...

The Trump administration's suggestion that it could ban or limit diesel exports has sparked a furious backlash from the American oil industry. Politicians are trying to bring down soaring energy prices ahead of the midterm elections in November, but critics say a ban would cause supply problems and higher prices both at home and abroad. Also in this edition: the OECD says the global economy is wit...

Under pressure to help businesses and workers cope with soaring fuel prices, the French government has announced it will expand targeted energy relief for those most affected. The new measures will cost €450 million, bringing the total so far to €1.4 billion. Meanwhile, as French President Emmanuel Macron calls for allowing more biofuels to be added to diesel, we speak to an expert about the poten...

Dependence on consulting firms is a growing trend among governments globally. Left unchecked, it can have a negative impact due to high costs or transparency issues. Such dependence came to the fore in France a few years ago, when the Macron government was criticised for its close ties with US consulting giant McKinsey. UNESCO's Inclusive Policy Lab, headed by Iulia Sevciuc, has established a new...

Paramount Skydance has settled a lawsuit with a dozen US states that sought to block its acquisition of Warner Brothers, as well as with the Writers Guild of America.  California's attorney general said that while the settlement addressed concerns over competition and protection, it did not mean a vote of support for the deal.

US and Chinese delegations held "succesful" and "constructive" talks in New York on Sunday on Artificial Intelligence and trade, ahead of Chinese President Xi Jinping's visit to Washington later this week. The two countries discussed setting up a dialogue mechanism as fears over AI security keep rising, and prepared to ease trade tensions as a truce deal is set to expire in November. Also in this...

French fishermen have agreed to lift their blockades at fuel depots and ports, including Nice, after talks with the government over financial aid. They say soaring fuel prices since the start of the war with Iran are pushing them to the brink. Also in the segment: India could be hit by fresh US tariffs if it keeps buying Russian oil. US lawmakers approved a new sanctions package that ratchets up t...

The US central bank raised its benchmark rate by .25 percent, with new Fed Chair Kevin Warsh defying President Donald Trump's desire for lower rates. Consumer banks and bond markets react. Also, OpenAI reveals new incidents of AI misconduct as fears grow that the technology could escape human control.

The US Federal Reserve has raised its key interest rates for the first time in three years, as it seeks to bring down high inflation. The policy decision sets up a potential confrontation between Chairman Kevin Warsh and President Donald Trump, who has repeatedly called on the central bank to cut interest rates. Also in this segment: France extends fuel subsidies as fishermen’s protests gather mom...

People in the single-currency Eurozone have been invited to vote on the designs of upcoming euro bank bills. Proposed designs include historic figures like Marie Curie and Leonardo da Vinci, as well as a vertical format. They are expected to enter circulation around 2030. But first, as higher fuel prices stemming from the Iran war hurt consumers, fishermen in southern France scuffled with police a...

Nigerian billionaire Aliko Dangote launched the biggest-ever share sale on the African continent, listing 4.1 billion shares in his Lagos refinery on the stock exchange.  He framed it as a "people's IPO" to give all Nigerians a chance to share the plant's wealth potentials. Trading is expected to start in November. Meanwhile, global oil prices continued to advance as attacks by Yemen's Houthi rebe...

For the first time, French champagne producers are allowed to sell their bubbly with more than 13% alcohol, as record heatwaves and drought have resulted in grapes containing unusually high levels of sugar. They fear that climate change may eventually force them to permanently rewrite the rules governing winemaking.  Also in the segment, the European Central Bank raised interest rates for the seco...

John Ternus, Apple's new CEO, unveiled the tech giant's latest smartphone on Wednesday. The foldable iPhone Duo will go on sale on October 23rd starting at $1,999, making it the most expensive iPhone to date. The move is a bid to comfort the US company's position at the top of the global smartphone market. Also in this edition, we head to Argentina where President Javier Milei's free market approa...

Paris's Grand Palais will host a two-day International Space Summit this Wednesday to promote global cooperation in the sector. A number of deals and investments for European space firms are expected to be announced as part of a wider plan to strengthen Europe's position in a field dominated by the US and China. Also in this edition: the US and Canada are locked in a tit-for-tat battle over tariff...

Canadian Prime Minister Mark Carney said it was a shame that trade talks with the US collapsed but that he would continue to fight to protect Canada's sovereignty. Meanwhile, his government's promised counter-tariffs on $20 billion worth of US exports took effect. Also in the segment: Cuba says economic damage from decades of US trade embargo has risen to a record $8 billion. 

Canada's retaliatory tariffs of up to 50 percent on approximately $19.8 billion worth of US goods came into effect this Tuesday, further escalating the trade war between the two neighbours. At the same time, US President Donald Trump is threatening to ban sales of all Bombardier aircraft in the US, in spite of the Canadian company's deep web of US suppliers. Also in this edition: Iran raises the p...

Crisis-hit Volkswagen has struck a preliminary deal to sell its Osnabrück plant in Lower Saxony to the state government and Israeli investor Aurelius Capital.  From mid-2027, the iconic factory is expected to start producing equipment for Rafael Advanced Defence Systems, the company behind the Iron Dome missile defence system. But first, we take a look at the state of the German economy following...

German startup Isar Aerospace becomes the first company to achieve a successful private orbital space launch. But first: Germany's far-right AfD party scores a big electoral victory, pushed along in part by the country's structural economic crisis and its fiscal policies.

The UN warns El Niño is a "supersized" phenomenon that will hit the global economy. Meanwhile, UK cider producers are feeling the impact of drought. Plus, Nvidia buys AI developer platform Hugging Face for $12.9 billion. 

US Energy Secretary Chris Wright landed in Venezuela on Tuesday ahead of a signing ceremony for a landmark oil deal between the US government and Venezuela. The deal would see the US create and control a private company that will hold 65 billion barrels in proven oil reserves. This agreement is also meant to encourage other US energy firms to invest in the country, in spite of serious challenges....

Oil prices rose, stocks fell and bond yields spiked after the US launched fresh attacks on Iranian targets. Japan's 10-year bond yield hit 3 percent for the first time since 1996. The deepening global selloff comes amid fears over rising inflation and concern over mounting government debt, which in the US has risen above $40 trillion. Meanwhile, in the single-currency eurozone, inflation rose to t...