12 Noon BBC Business Update: Recent Episodes
12 Noon BBC Business Update
A bitesize bulletin of global business news from the BBC World Service, with regular Africa content and the BBC’s best on-the-ground reporting.
Venezuela misses a hard deadline to make a $200 million payment on its debt
Greenpeace activists are taking the Norwegian government to court to stop Arctic oil drilling
Kenya looks for ways to rebalance its trade - it imports three times more than it exports
Photo Credit: Ronaldo Schemidt/ Getty Images
Scientists at a UN climate conference in Germany say global emissions of carbon dioxide are projected to rise in 2017 for the first time in four years. They say the main cause for the expected increase of about two percent has been the greater use of coal in China. The Kenyan government has increased its stake in troubled carrier Kenya Airways. And Uber edges closer to a multi billion-dollar investment deal.
(Picture credit: Getty Images)
US President Trump and China's Xi Jingpin have announced $250 billion of business deals
Zimbabwe has renamed Harare International Airport after President Robert Mugabe
And Uganda and Kenya are rowing over lucrative fishing rights in Lake Victoria
Picture Credit: Getty Images
The Paradise Papers of leaked documents raises questions about the management of Angola's sovereign wealth fund
President Trump is meeting the Chinese leader Xi Jinping
And Uganda's government institutes a Salaries Review Team to try to curb the spate of strikes hitting the nation
Photo: Joe Klamar/ Getty Images
President Trump is expected to announce there'll be a new top central banker, helping to steer the world's biggest economy. Controversy in Nigeria as cattle are banned from openly grazing in part of the country. There's a prediction the only way is up for the price of gold. (Image: EPA)
Kenya holds its national election rerun
The first FIFA executive is to be sentenced for corruption in the United States
The European Court makes a tricky ruling concerning whether the card game Bridge is actually a sport. Millions of dollars rode on the decision.
Photo: Carl De Souza/ AFP/ Getty Images
China's President, Xi Jinping, has unveiled the new members of the country's governing Politburo, indicating the country's economic and political direction for the next five years
Kenya's Supreme Court declines to intervene and postpone the country's election, planned for tomorrow
And South Africa unveils its new mini-budget
Picture: Feng Li/ Getty Images
Presenter: Russell Padmore.
This is Business Update from the BBC.......
Hello I'm Russell Padmore in London and these are the main headlines....
Kenya's business community says the economy is being affected by political uncertainty.....
The US considers cutting financial aid to South Sudan...
And a decline in the number of African elephants killed illegally by poachers....
The uncertainty surrounding Kenya's election, which is scheduled to take place Thursday, is hitting the country's economy. Business leaders say foreign investors are holding back and consumers are not spending, amid the political disruption. Vimal Shah is the chairman of Bidco, a consumer goods group in East Africa.
Anzetse Were, an African development economist told the BBC it will take some time for the Kenyan economy to get back on track.....
The United States has considered cutting off financial aid to South Sudan, but Washington is not convinced it would force President Salva Kiir, to bring peace to the nation. Four million refugees have fled the country because of famine and conflict, sparked by differences between the president and deputy president, Riek Machar, who is currently in South Africa. The United States Ambassador to the United Nations, Nikki Haley, is visiting East Africa and today she's in Ethiopia, which is now home to hundreds of thousands of South Sudanese refugees.
Nikki Haley is the most senior member of President Donald Trump's administration to visit Africa....
A record amount of illegal ivory was seized around the world last year, but the number of elephants killed by poachers has declined, that's according to a new report by CITES, the regulator of international animal trade. Forty tonnes of trafficked ivory was recovered, but poaching across Africa, which has lost one hundred and eleven thousand elephants in the last 10 years, appears to be levelling off. Here's the BBC's Alastair Leithead....
Now to India.......a country famous for its film industry....known as Bollywood......it produces more than 15 hundred movies a year. Traditional theatre productions are far less popular, but one iconic Bollywood movie is trying to bridge the gap - with a musical adaptation for the stage. Tickets aren't cheap though - they'll set you back more than a hundred dollars a seat. The BBC's Devina Gupta has more.
Presenter: Russell Padmore
This is Business Update from the BBC......Hello I'm Russell Padmore.....
The main headlines today......
Another step towards using solar power to bring electricity to 600 million people in rural Africa....the French gas group Engie buys one of the continent's solar suppliers......
Europe's trade commissioner says countries in southern Africa are benefiting from the EU Economic Partnership deal....
And the Ugandan shilling falls to its lowest against the dollar in more than a decade.....
The French gas utility Engie is expanding its business in sub Saharan Africa with the acquisition of a company that supplies solar power panels to homes in rural communities. Fenix sells the panels to people in Uganda and Zambia, who make small payments for them by instalments over a mobile phone. Engie operates renewable energy and gas-fired power stations in Morocco and South Africa and this acquisition underlines the growing market in off grid electricity across the continent. The chief executive of its African operations, Bruno Benssasson, says there are 600 million people in rural areas who may never be connected to power grids.
The development of off grid power in Africa has also been highlighted by the rap artist Akon.....The singer, who has family roots in Senegal, has invested in solar power projects in 25 countries...he got the idea from power cuts during concerts...
It's more than a year since six countries in Southern Africa signed up to the European Union's Economic Partnership Agreement and according to Brussels it's working well. Members of the SADC group like Botswana, Namibia, South Africa and Swaziland are exporting goods like diamonds, fish, wine and sugar to the EU without trade tariffs. Cecilia Malmstrom is the European Commissioner for Trade...
Uganda's Shilling currency has dropped to its lowest value in more than 10 years against the US dollar. Traders in Kampala have been selling the currency to buy its American counterpart, as investors take the exit door. Uganda's finance minister, Matiya Kasaija, says the sharp depreciation of the Shilling is down to investors getting nervous about political uncertainty, following scenes of violence in Parliament. MPs started fighting during a debate about raising the age for candidates to stand for election as president......
EU leaders meeting in Brussels have agreed to begin preparations for the second phase of Brexit talks, looking at a future trade relationship. But they said not enough progress had been made to move on immediately.
The controversial chief executive of Kenya's electoral commission, Ezra Chiloba, is going on holiday and will not be working during next week's re-run presidential election. The opposition leader Raila Odinga, who has threatened to boycott the election, has repeatedly called for Mr Chiloba to be fired.
The erosion of land along the coast of Senegal is causing a problem for people who depend on it to grow crops. The efforts of the government to build a land barrier, close to the country's colonial era capital Saint-Louis, has only led to flooding elsewhere. The BBC's Marie Keyworth reports from Saint Louis in Senegal.....
Presenter: Russell Padmore
This is Business Update from the BBC......Hello I'm Russell Padmore.....
The main headlines today......
Another step towards using solar power to bring electricity to 600 million people in rural Africa....the French gas group Engie buys one of the continent's solar suppliers......
Europe's trade commissioner says countries in southern Africa are benefiting from the EU Economic Partnership deal....
And the Ugandan shilling falls to its lowest against the dollar in more than a decade.....
The French gas utility Engie is expanding its business in sub Saharan Africa with the acquisition of a company that supplies solar power panels to homes in rural communities. Fenix sells the panels to people in Uganda and Zambia, who make small payments for them by instalments over a mobile phone. Engie operates renewable energy and gas-fired power stations in Morocco and South Africa and this acquisition underlines the growing market in off grid electricity across the continent. The chief executive of its African operations, Bruno Benssasson, says there are 600 million people in rural areas who may never be connected to power grids.
The development of off grid power in Africa has also been highlighted by the rap artist Akon.....The singer, who has family roots in Senegal, has invested in solar power projects in 25 countries...he got the idea from power cuts during concerts...
It's more than a year since six countries in Southern Africa signed up to the European Union's Economic Partnership Agreement and according to Brussels it's working well. Members of the SADC group like Botswana, Namibia, South Africa and Swaziland are exporting goods like diamonds, fish, wine and sugar to the EU without trade tariffs. Cecilia Malmstrom is the European Commissioner for Trade...
Uganda's Shilling currency has dropped to its lowest value in more than 10 years against the US dollar. Traders in Kampala have been selling the currency to buy its American counterpart, as investors take the exit door. Uganda's finance minister, Matiya Kasaija, says the sharp depreciation of the Shilling is down to investors getting nervous about political uncertainty, following scenes of violence in Parliament. MPs started fighting during a debate about raising the age for candidates to stand for election as president......
EU leaders meeting in Brussels have agreed to begin preparations for the second phase of Brexit talks, looking at a future trade relationship. But they said not enough progress had been made to move on immediately.
The controversial chief executive of Kenya's electoral commission, Ezra Chiloba, is going on holiday and will not be working during next week's re-run presidential election. The opposition leader Raila Odinga, who has threatened to boycott the election, has repeatedly called for Mr Chiloba to be fired.
The erosion of land along the coast of Senegal is causing a problem for people who depend on it to grow crops. The efforts of the government to build a land barrier, close to the country's colonial era capital Saint-Louis, has only led to flooding elsewhere. The BBC's Marie Keyworth reports from Saint Louis in Senegal.....
Kim Yong Jim is worried about a future when machines and robots replace millions of low-skilled workers.
Also in the programme...
The stand off between the Turkish government and an influential exiled cleric is played out in Senegal.
And themes of patriotism and security at the Abuja film festival in Nigeria.
Turkey's main stock index has taken a hit because of a visa row with the US.
One of Africa's largest diamond mining companies is in financial trouble
And Liberians head to the polls tomorrow.
This is Business Update from the BBC.....
Hello I'm Russell Padmore and these are the main headlines.......
Spain's business community gets nervous at the prospect of Catalonia declaring independence.....
A developing global weather pattern could cause a shortage of rain for farmers in East Africa and floods in the south of the continent.......
And KPMG promises reforms to prevent a repeat of mistakes it made in work for business friends of South Africa's President......
More companies with operations based in Catalonia are considering moving their main base to other parts of Spain. Fears are growing about the economic impact of Catalonia's push to separate from Spain amid increasing speculation that the region, which is one of the richest in Spain, will declare unilateral independence. Stephen Brown is a European economist at Capital Economics...
Farmers in East Africa could face a shortage of rain in the next few months, which will put crops at risk. The World Meteorological Organisation has today warned that the impact of a changing La Nina weather pattern in the Pacific may cause drier than normal conditions in East Africa, but will probably bring heavier rainfall to southern Africa.......Here's the BBC's Jonathan Frewin.....
The new chief executive of KPMG in South Africa has been telling the country's parliament that she'll make sweeping changes to ensure the "disappointing" work that the accounting firm did involving friends of President Zuma was not repeated. From Johannesburg, the BBC's Matthew Davies has more....
If you're a fan of hazelnuts, and food which contains them - including some types of chocolate spread - well, I bring bad news. That's because this year's hazelenut harvest in an important area for production has been devastated. To blame is a distinctly unpleasant sounding pest called the brown marmorated stink bug. It's all happening in the republic of Georgia, in the former Soviet Union. There, hazelnuts are the main agricultural export, generating nearly 180 million dollars last year. International food giants like Italy's Ferrero, which makes the spread Nutella, have opened businesses in Georgia because of its abundance of hazelenuts. This year though, the crop is expected to be cut in half. As the BBC's Rayhan Demytrie reports:
Presenter: Russell Padmore:
This is Business Update from the BBC.......
Hello I'm Russell Padmore and these are the main headlines...
The UK orders Europe's biggest airline, Ryanair to be more transparent on compensation for cancelled flights by the end of today.....
Investors suffered big losses on investments in Africa this month......
And a setback for South Africa's tourism industry after robbers held up a bus with dozens of Dutch visitors...
The British Civil Aviation Authority has told Ryanair it must clearly tell passengers how to get compensation and what alternative flights it will offer, even with rival airlines, by the end of Friday.
The Irish budget airline, which carries more passengers than any other in Europe, has cancelled thousands of flights for the next few months, because of a shortage of pilots.
Seth Kaplan, the manager of Commercial Aviation Magazine, says it's a setback for the company's efforts to attract people travelling on business...
Foreign investors may divert their funds to emerging economies outside Africa, after shares across the continent suffered major losses this month.
A combination of political instability and falling prices of commodities like copper, led to shares and currencies, like Zambia's Kwacha, suffering big losses.
In September trading Kenya's stockmarket suffered the biggest fall in Africa, with shares in Nairobi dropping nearly nine percent and the financial market in Kampala was the second worst, with Uganda's all share index down more than five percent.
John Ashbourne follows economic developments in Africa for Capital Economics.....
A group of 36 tourists is back in the Netherlands after being robbed at gunpoint, within hours of arriving in South Africa......
They were victims of robbers while travelling by bus from Johannesburg's main airport to their hotel.
The incident is an embarrassment for South Africa, which is keen to promote itself as a tourist destination, despite the high crime rate.....
Marisa Gerards, the Dutch Ambassador in South Africa, says the tourists cut their visit short because all their belongings were stolen.
South Africa's High Court has ruled that it cannot compel President Jacob Zuma to establish a commission of inquiry into claims his government was open to influence from rich people.
The opposition Democratic Alliance asked the court to force him to investigate allegations that the billionaire Gupta business family had influenced the appointment of ministers.
Mister Zuma argued that the Public Prosecutor had no say, because this was the president's prerogative.
President Zuma and the Guptas deny the allegations....
The UK has ambitions to run as smooth a border with the European Union, as possible following Brexit, without long queues of trucks waiting for customs checks.
There is especially a big challenge on how to operate the only land border the British have with an EU nation, the border between the Republic of Ireland and Northern Ireland......
There may be an example the British could copy......Norway, which isn't an EU member, has a thousand mile long border with Sweden........The Norwegians claim that a mix of technology and cooperation with their neighbours makes it the smoothest border operation in the world.
The BBC's technology correspondent Rory Cellan-Jones has been to see how it works.....
The US Commerce Department has issued tariffs OF nearly two hundred and twenty percent on a passenger jet made by Canada's Bombardier.
That means jobs are threatened in Northern Ireland - provoking backlash from politicians including British prime minister Theresa May, who says she's "bitterly disappointed"...
Boeing argued that Bombardier received unfair subsidies.
Presenter: Russell Padmore. This is Business Update from the BBC.....
Hello I'm Russell Padmore and these are the main headlines.....
The UK's prime minister sets out a new offer to the European Union to advance Brexit negotiations....
The United Nations says Africa is forging ahead with industrialisation....
And Uber loses its licence to operate taxis in London....
And a western movie set in South Africa could boost the country's film industry.....
The UK is expected to ask the European Union for a transitional period of two years to smooth its exit from the bloc, during which it wants continued access to the single market in return for continuing to fund the EU's budget.....a commitment that could cost 24 billion dollars.....
The British prime minister's keynote speech this afternoon in Italy is expected to see Theresa May telling EU leaders there is a shared responsibility to make Brexit work "smoothly," as she attempts to break the deadlock in negotiations.
From Florence, here's the BBC's Political Editor, Laura Kuenssberg:
Africa's economic development is one of the key themes being discussed by national and corporate leaders at the United Nations in New York this week.
The continent remains the poorest and most vulnerable region in the world, where unemployment and poverty are serious concerns.
Seven in 10 of the workforce are unemployed, or have no job security, but that could change as Africa gets more industrialised.
Vera Songwe, is the United Nations Under Secretary General....
London will not renew the licence that allows the taxi service Uber to operate in the city.
The transport authority highlighted a number of failures linked to passenger safety, such as reporting criminal offences and how drivers took medical tests.
BBC business correspondent Simon Gompertz, says Uber intends to appeal.
Think about western films and you probably see images of cowboys, in towns like Tombstone or Deadwood......it's unlikely South Africa comes to mind....
A trailer for the movie Five Fingers For Marseille...a western shot in South Africa, which has gone down well at the Toronto Film Festival....which could boost the South African film industry.
The writer of the movie, Sean Drummond, says its storyline has a familiar theme...
German voters go to the polls this weekend to choose the next leader of the one of the world's biggest economies.
Barring an upset, Angela Merkel is expected to be returned as Chancellor, despite the rise of the far-right, anti-immigrant Alternative for Germany Party, which is set to enter the Bundestag, the country's parliament, for the first time.
One of the big challenges for the next administration will be finding ways to help all citizens enjoy the benefits of the country's success.
Former centres of mining and heavy industry have suffered a rapid decline.
The BBC's Tanya Beckett reports from the former industrial powerhouse of Essen.....
Presenter: Russell Padmore.
This is Business Update from the BBC......
Toyota says hydrogen powered cars are the future, not electric vehicles......
Gambia will engage private companies to prevent illegal fishing off the coast of West Africa.....
And debt ridden South African Airways grounds more jets and cuts routes to save money...
The car industry is investing billions as the race to develop electric cars speeds up. Many automotive companies are now saying most of their models will be hybrid or electric within a few years......but one of the world's biggest car makers Toyota says hydrogen powered vehicles are more efficient because you don't need batteries to store power from renewable sources. Toyota's hybrid Prius car has been popular with green campaigners for years, but the chief executive of Toyota's European operations, Johan Van Zyl, believes the industry should focus on hydrogen.....
The challenge of preventing unlicensed ships from Europe and China fishing off the coast of West Africa is getting tougher. Countries like Gambia and Equatorial Guinea cannot afford navy patrol vessels, which makes it easier for large foreign vessels to fish, without permission, threatening the business of small scale fishermen and affecting supplies of a staple food. Gambia plans to engage three private companies to prevent illegal fishing in its waters, which comes as the marine conservation group Oceana has accused the European Union of illegally allowing boats from Greece, Italy, Portugal and Spain to fish off the coast of West Africa. Beth Lowell is a Senior Director at Oceana......
South African Airways is planning to cut almost a quarter of its flights, as part of cost-cutting to return the financially troubled airline to profit. The state-run carrier has received several bailouts from the government over the past few years. From Johannesburg, the BBC's Matthew Davies has more:
South African Airways, which operates one of the continent's largest fleets, is retiring five of its aircraft. The company says that while it'll be cutting its international routes, including some to east and central Africa, its domestic network will remain the same. The carrier's latest financial bailout came in July and the South African Treasury is considering another billion dollar cash injection - but that would seem to depend on the government selling its stake in the national telecoms company, Telkom. The airline already has debt guarantees from the government of one and a half billion dollars. SAA is currently working on a plan to repay a large loan from Citibank - and that's due by the end of the month. >
The International Monetary Fund predicts good growth for Uganda's economy this year, but a network of groups claim it actually contracted in the last year, contrary to figures from the Government and IMF. The Civil Society Budget Advocacy Group and the Uganda National Forum say growth was below zero in the second and third quarters, the definition of a recession. They blame government corruption, a decline in agriculture, slower growth in Europe and the war in South Sudan for holding back the Ugandan economy. The IMF's representative in Kampala, Clara Mira, says the country should make it easier for business people to borrow money to invest in expansion.
In 10 days the people of Germany will vote to elect a new government. Angela Merkel is hoping to win a fourth term as Chancellor and she's built her campaign around continuity. For many Germans in one of the world's richest countries more of the same is an attractive prospect, but not everyone is happy. Berlin is one of the world's most vibrant capital cities, but as the BBC's Joe Miller has been discovering, the city is actually poorer than many others in Germany.
The United Nations has imposed further sanctions against Pyongyang over its latest weapons test.
Beijing voted in favour of the new sanctions, but the United States had to soften its original proposals to get China and Russia's support.
They aim to slash the hard currency earnings and energy imports that help finance and fuel Pyongyang's nuclear weapons programme.
In a statement, China also reiterated that it opposed any further development of an American anti-missile system deployed in South Korea.
The UK PR firm Bell Pottinger's Asian unit says it will separate from its British parent, after the scandal in South Africa, Kenya Airways has been granted an air carrier permit to the US and BMW has announced a big push into electric cars
The government in the Kenyan capital Nairobi have conducted raids to enforce the new ban on plastic bags, UK PR firm Bell Pottinger puts itself up for sale after a scandal in South Africa and the world's best selling electric car gets an upgrade.
One of the UK's biggest PR firms, Bell Pottinger has been expelled from the UK PR trade body after a complaint by South Africa's Democratic Alliance party, Azerbaijan operated a secret $3 billion scheme and Sydney's homelessness problem
Global stock markets have fallen following rising tensions over North Korea's missile tests, UK PR chief resigns after South Africa campaign and market reaction to Kenya's presidential elections being annulled
Presenter: Russell Padmore
This is Business Update from the BBC.
Hello I'm Russell Padmore and these are the main headlines.
Kenya's Supreme Court over rules the result of the recent election ordering another should be held.
Tanzania will go ahead with a controversial power project in one of the world's heritage listed game reserves.
And shooting hoops.....America's National Basketball Association has high hopes of developing the game in Africa.
Foreign investors have taken a negative view of Kenya after the country's Supreme Court ruled that the result of the recent election was null and void and ordered another poll to be held within 60 days. Shares have tumbled in East Africa's biggest economy and the value of dollar denominated Kenyan government bonds has fallen. The Supreme Court found there had been irregularities in the way the electoral commission conducted the election. The decision was announced by Chief Justice David Maraga.
President Uhuru Kenyatta had secured a second term at the poll, but his rival, Raila Odinga, challenged the result, claiming it was rigged.
Kenya's business community had feared a re-run of the election would undermine confidence on the country. Here's the BBC's Michael Kaloki in Nairobi.
Tanzania has invited bids for the construction of a controversial hydroelectric dam in one of the country's largest game reserves. Last month the government was widely criticised after it expressed interest in continuing with the project. The dam, which will be built in the World Heritage-listed Selous reserve is expected to double the country's electricity supply. More from the BBC's Sammy Awami in Dar es Salaam.
Basketball is one of America's top sports, but the NBA has often featured several star players from Africa.....such as Hakeem Olajuwon, from Nigeria,, Steve Nash from South Africa, or Dikembe Mutombo from the Democratic Republic of the Congo........ The top teams from the National Basketball Association have already played regular season games in London and as the sport strives to go global....Africa is very much in its sights for development...Amadou Gallo Fall is the managing director of the NBA's business in Africa......
Eating eels can be an acquired taste. Some people might be put off eating a marine snake like creature, but they're eaten all over the world, from Nigeria to Japan and even in Britain. Although once found in the River Thames which flows through London, eels now have to be sourced from hundreds of miles away. We sent BBC reporter Nishi Sunder to a restaurant in London's East End that's trying to entice a new generation to enjoy the eel.....
US petrol prices have risen after a key network of pipelines was shut because of Hurricane Harvey, Kenya introduces electronic passports and in football, it's transfer deadline day.
South Asia is being hit by some of the worst monsoon floods in years. Millions of people have been affected in India, Nepal and Bangladesh with several hundred people killed. Heavy rain in Mumbai caused waist-deep flooding in some areas, forcing schools and businesses to close and some deaths. A campaigner protesting against the use of the CFA Franc is acquitted in Senegal. And Ugandan phone companies prepare to switch of millions of unregistered phone lines. (Picture: Indian commuters walk on railway tracks as train services slowly resume in Mumbai, after heavy rains brought major flooding. Credit: Getty Images)
A court in Bangladesh has sentenced the owner of the Rana Plaza factory complex, Sohel Rana, to three years in jail after convicting him on corruption charges. More than a thousand people died when the multi-storey building collapsed four years ago. Markets have closed down in Asia after North Korea fired a missile over Japan. And a British actor has withdrawn from a Hollywood film over concerns about whitewash casting. (Picture: Sohel Rana faces further charges, including murder. Credit: AFP)
Hurricane Harvey has disrupted oil production in the US state of Texas. Uber's board of directors has chosen a new boss for the ride-sharing company. And Kenya has banned plastic bags. (Picture credit: AFP)
Presenter: Russell Padmore
This is Business Update from the BBC.
The main headlines today.
The head of the Samsung business group has been sentenced to five years in jail for bribery.
The chief executive of Kenya's biggest bank says he has been criticised for revealing details of his wealth in an effort to fight corruption.
And a controversial auction of rhino horns closes today in South Africa.
The billionaire head of Samsung in South Korea has been found guilty of bribery, linked to a scandal that forced the country's president out of office. Jay Y Lee was also found guilty of hiding assets abroad, embezzlement and perjury. The court found that Mister Lee was behind bribes of nearly eight million dollars paid to the former president to secure his succession as leader of the Samsung conglomerate, which stretches from technology to making drugs, insurance and owning hotels. The BBC's Yogita Limaye watched the case at the court in Seoul.
Kenya's Parliament reconvenes next Thursday following the election and one of the issues facing new MPs will be stamping out corruption, which is restricting economic growth. As part of the fight against fraud business leaders are being pressed to reveal details of their wealth. Bob Colleymore, the head of the phone group Safaricom, has said he has assets of nearly three million dollars and the chief executive of Kenya's biggest bank has revealed a net worth of one point six million dollars. However Joshua Oigara, who runs KCB Bank, told the BBC he faced criticism for making his wealth public.
The first online auction of rhino horn in South Africa ends today, after three days of bids which provoked criticism from conservation groups. John Hume, who owns one thousand five hundred rhinos on a farm near Johannesburg, has stockpiled six tonnes of horns. He says he harvests them by tranquilising the animals and cutting them off to prevent poachers attacking his herd. The global trade in rhino horns has been banned for 40 years, but Mr Hume has been able to sell his horns after a court ruled he should be given a licence.......John Hume says he needs money to pay for security such as armed patrols, helicopters and electric fences to protect his rhino from poachers.
The legal system in Uganda has ground to halt because of a strike by judicial workers today. Courts around the country are closed as justices and magistrates take industrial action seeking higher pay. The strike by the court staff in Uganda, follows others by civil servants, teachers and medical workers. The Uganda Judicial Officers Association had given the government 30 days until last night, to increase their pay. Currently, a Grade two magistrate is paid about 200 dollars a month, while the Chief Justice recently got a pay-raise to six thousand dollars. The judicial staff who are striking also want to be given a car, a driver and a guard for each of the 400 judges.
Ethiopia is fast becoming one of Africa's economic success stories, forging ahead with a new era of industrialisation that contrasts sharply with the images of drought and famine which can be associated with the country. Ethiopian Airlines has won African carrier of the year for a second time and it's still expanding. Rolls Royce has just signed a deal worth more than a billion dollars to supply the government-owned airline. And a British leather and fashion firm, Pittards , is another company looking to take advantage, as the BBC's Alastair Leithead reports.
The US continues to be hit by Trump shockwaves...the Apple boss now joins big business's condemnation of the President's response to the Virginia tragedy while two influential business councils are scrapped..... .. a crucial pact between the US, Canada and Mexico faces an uncertain future... ....plus South Africa's sacked finance minister Pravin Gordhan speaks to the BBC about alleged corruption (Picture credit: MUJAHID SAFODIEN/AFP/Getty Images)
Authorities in Sierra Leone ask for help from the rest of the world as hundreds are killed in a mudslide, Melbourne is ranked the most liveable city and forty years after the death of Elvis Presley, is there still a demand for his memorabilia?
Iran, China, North Korea....where next as US President Trump threatens sanctions on a growing list of major world powers? A mass burial is likely in Sierra Leone after a devastating mudslide And Nairobi's stock market hits a two year high post election - but can it last?
Workers in Kenya have been urged by many business owners to return to work, cross-border business between Kenya and Uganda is stalling due to safety concerns and Japan's economy is growing at fastest pace for more than two years.
Kenyans went to the polls two days ago to pick their next president but many businesses remain shut, Facebook are to introduce a new video service and can Silicon Valley lead the march for change in paid maternity leave in the US?
Locals in Kenya stock up on goods as many businesses remain shut during the presidential election. It's the launch of football's Premier League season following the world's most expensive transfer fee. Plus, recycled laptops for schools in Ghana.
Bus passengers are stranded in both Kenya and Uganda over fears of unrest during the Kenyan election. The South African rand drifts lower as President Zuma faces today's secret ballot...and Kenya benefits from a tea shortage in Darjeeling which has brewed an economic crisis for India.
There's a surprise element as Kenya's elections loom. It is a young country with half the registered voters under the age of 35. They could make a big difference in a political landscape which mainly relies on tribal voting blocks. The BBC's Alan Kasujja has been talking to young people on the streets of Nairobi on the eve of the election, and finding that perhaps getting them to vote at all could be the main challenge.
Meanwhile a damaging trade dispute has led to Kenyan exports to Tanzania dropping significantly…as our reporter in Nairobi, Michael Kaloki explains.
One of the worst droughts in decades is affecting Somaliland - killing around eighty per cent of the country's livestock. But there IS a glimmer light on the horizon for those farmers and businesses affected. There's no formal banking system but payments are being made pretty efficiently... electronically. Overseas workers used to send part of their pay-cheque home but now it can all be done by mobile phone. And it makes the self declared state of Somaliland an almost cashless society. We find out more.
(Picture credit: DANIEL HAYDUK/AFP/Getty Images)
Presenter: Russell Padmore:
This is Business Update from the BBC.
The main headlines:
The heads of companies in the UK urge British politicians to stop arguing over the terms of Brexit.
One of Africa's big gold mining companies predicts the price of the precious metal will rise significantly this year.
And the African musician Youssou N'dour says he became a businessman to pay his taxes.
The UK's Institute of Directors wants members of the British Government to unite to reach an agreement on the country's exit from the European Union as soon as possible. Politicians have given mixed messages in an apparent split over a possible transition arrangement for Brexit. It comes as Royal Bank of Scotland has revealed contingency plans to establish a base in Amsterdam as Britain prepares to leave the European Union. A thorny subject for a bank where taxpayers own two thirds of its shares. Ross McEwan is Bank of Scotland's chief executive.
The price of gold will continue to rise this year, that's according to the African mining company Randgold. In January the precious metal was trading at about eleven hundred dollars an ounce and today it's worth twelve hundred and sixty nine dollars an ounce. Randgold has mines in the Democratic Republic of Congo, Ivory Coast, Mali and Senegal and its chief executive, Mark Bristow, says more demand for the precious metal will force the price up.
And Uganda has launched an operation to stop illegal so called artisinal mining of gold. The government is concerned thousands of amateur miners are working in dangerous conditions, many of them foreigners.
Youssou N'Dour is credited with bringing the African style of music mbalax to audiences around the world. Rolling Stone Magazine has described him as the "most famous singer alive" in Africa. But the Senegalese musician is also known in his country as a politician and businessman. He told the BBC he became an entrepreneur to make money to pay his taxes.
The campaign to eradicate the illegal ivory trade continues to challenge the authorities across Africa, as park rangers, aided by the military, battle heavily armed gangs of poachers. It's estimated thirty thousand elephants are killed every year for their tusks and Africa's total elephant population has been cut by a third over the last decade. Experts says reversing that trend will require a strong counter-incentive, such as promoting tourism and that idea is being adopted by Gabon. Poachers have killed all but a fifth of Gabon's forest elephants, but the country is fighting back with a new conservation and tourism initiative, as the BBC's Andy Jones reports.
South African Airways has run out of money and is effectively bankrupt, according to a cash-flow analysis seen by the country's members of parliament. It's raised concerns that the embattled national carrier will soon be unable to pay staff.
As the Kenya elections loom, Ugandan importers and exporters have been told to stay away. We find out why from traders.
The Australian government is suing one of the country's biggest banks, over what it calls a serious and systemic failure to comply with rules designed to counter money laundering and the financing of terrorism.
And we travel to the far north of Alaska - a place so far north it's in the Arctic Circle - to hear local people's concerns over their future relationship with oil.
Picture credit: IANLUIGI GUERCIA/AFP/Getty Images
British American Tobacco is to be investigated by the UK's Serious Fraud Office for alleged bribes in East Africa Flights in Kenya are being affected by a pilots strike... but Qatar Airways passengers could be about to find life is back in the fast lane
Picture credit: ISABEL INFANTES/AFP/Getty Images
Farmers in East Africa are becoming increasingly worried about the lack of rain in the area, especially after a year long drought. As Nebert Rugadya from Kampala reports, there are fears for next month's planting season. The footballer, Cristiano Ronaldo is at a hearing in Madrid, trying to prove his innocence after being charged with tax fraud. We hear the background. Connections between Africa, Europe, the Middle East and Asia are being bolstered as another part of China's One Belt, One Road economic plan is secured. China today unveils a 50 year deal firming up the revival of its Silk Road trading route. We find out where and for how much.
Presenter: Russell Padmore.
This is Business Update from the BBC.....
Hello I'm Russell Padmore and these are the main headlines.
The company that controls British Airways and Iberia has told investors to expect a good rise in profits this year.
The President of Gambia has insisted his country's economy is stabilising.
And an internet retailer discovers when African women shop online for clothes they buy mostly bright colours and favour stripes.
Shares in the airline group IAG have risen after it reported a 40 percent jump in half year profits, on last year, to about one point one billion dollars. The group which owns British Airways, Iberia, Aer Lingus and Vueling, has also forecast profits will improve this year, despite warnings by rivals Lufthansa, Ryanair and EasyJet that lower fares will hit revenues. IAG's chief executive, Willie Walsh, says the good performance was achieved despite a massive power failure which caused hundreds of British Airways flights to be cancelled in May.
The President of Gambia, Adama Barrow, says the first six months of his leadership have seen the economy stabilise, because the state's funds are being replenished rather than being embezzled. Mister Barrow told the BBC trade is increasing, but investment in infrastructure will have to be delayed until the economy is much more stable.
The internet retailer Mall for Africa says African women conduct more transactions buying baby clothes than personal fashions. The e-commerce firm has studied a million online purchases to find out differences in the shopping habits of women in Africa, compared to their counterparts in other regions of the world. It concluded female online shoppers across the continent favour clothes in bright colours, the most popular beauty product they buy is hair oil and more African women shop online on Tuesday than other days of the week. Mall for Africa's chief executive, Chris Folayan, told me more about their study.
Businesses in Uganda are urging the government to stop borrowing from the country's banks, because it is leading to higher interest rates. The government in Kampala plans to secure about three percent of this year's budget from Ugandan banks, which consider lending to the state as a good risk. The country needs to borrow money to fund new roads for the development of the oil industry. But according to Gideon Badagawa, executive director of the Private Sector Foundation Uganda, banks are charging rates of more than 20 percent on loans to small and medium enterprises.
Does Africa's biggest economy need a new national airline? The Nigerian government has approved nearly five million dollars of funding to help create one. Travellers with longer memories in West Africa will recall the former Nigeria Airways, collapsed 14 years ago, crippled by huge debts. The government has dismissed speculation that two struggling airlines, Arik Air and Aero, will be merged to form Nigeria's new national carrier. They state was forced to take control of both in the last year. The BBC's Ijeoma Ndukwe, sent us this report from Lagos.
The social media giant Facebook posts massive profits - a 70% rise on the same time last year. Last month the number of active monthly users crossed the two billion mark, meaning one in four of us across the planet uses it at least once a month. Drugmaker AstraZeneca sees share price plummet as it reports a major setback in trials of a new lung cancer drug therapy. The UK's biggest drugs company - Glaxosmithkline axes 33 development programmes in an attempt to save 1.5 billion dollars a year. And the African bank that can't give away its money. (Photo credit: ISSOUF SANOGO/AFP/Getty Images)
Alphabet, the parent company of Google, has reported a 28% drop in profits - thanks to a huge fine from European regulators last month. The regulator fined google 2.4bn euros for what it said was an abuse of its market position. However, despite the profit loss, the company did better than most investors had expected. Dave Lee reports from Silicon Valley.
The International Monetary Fund says the world economy is making steady progress as it recovers from the financial crisis just under a decade ago. The IMF has raised its predicted growth for many eurozone countries, but lowered it for the United States. Our economics correspondent Andrew Walker reports.
Presenter: Russell Padmore.
This is Business Update from the BB.
Hello I'm Russell Padmore, with the main headlines.
North Korea's economy grows by its fastest rate this century, despite UN sanctions.
The Chinese billionaire Jack Ma urges Africa to avoid creating the kind of industrial pollution that his country suffers.
And illegal poaching of elephants and rhinos in Uganda could lead to a prison sentence of life.
North Korea's missile tests may have prompted international sanctions, but its economy is thought to have grown by three point nine percent, that's according estimates from its neighbour South Korea, with which it is still technically at war. More from the BBC's Michael Bristow.
The founder of the internet marketplace Alibaba, Jack Ma, is willing to invest in Kenya. The Chinese billionaire, who is making his first visit to Africa, told an audience in Nairobi that he's impressed by the African nation's broadband infrastructure. He also said Alibaba's revenues will grow by up to 48 percent this year, as more companies join its online community, seeking sales. Last year Alibaba recorded revenue of nearly 23 billion dollars. Jack Ma has expressed confidence in Africa's economic prospects.
Uganda is considering jailing people for life, if they are found guilty of crimes connected to the trade in endangered animals, for example trading ivory. More from Nebert Rugadya, a Business Journalist at Radio One in Kampala.
The head of the banking giant Goldman Sachs has called on the UK to agree a significant Brexit transition period with the European Union, as soon as possible. But despite the uncertainty, Richard Gnodde told the BBC he's confident about the economic fortunes of the EU and the US.
Thousands of small businesses in two regions of Ethiopia have remained closed, as traders protest against new taxes imposed by the authorities. At least two people have died and government property has been destroyed as demonstrators took to the streets in Oromia, the largest region in the country and the centre of anti government demonstrations since November 2015. The government has appealed for calm, as tension remains high in Oromia. Doctor Negeri Lencho is Ethiopia's Communication Minister.
There's no doubt having children is an extraordinary and life-changing experience, but for parents who work it's a challenging one too. Finding good affordable care for your children, while you earn money to secure their future is tough. This week the BBC has broadcast a series of features looking at the cost of childcare. In India the proportion of women in the workplace remains comparatively low and that is perhaps why there seems to be a lack of good childcare options in the country. Indian employers are under pressure to do something about that, bit so far very few have made provision to help working parents, as the BBC's Yogita Limaye reports from Mumbai.
Presenter: Russell Padmore
The main headlines.....
The World Health Organisation says the tobacco industry is hampering efforts to discourage smoking in developing countries in Africa and other regions.
Uganda's central bank resists pressure to put a cap on interest rates.
And an invention to improve turbines that generate electricity wins the prestigious Africa Innovation Prize.
Two thirds of the world's population can now access help to stop using tobacco, but seven million people still die every year from illnesses caused by smoking. The World Health Organisation says one in five of people aged 15 and over use tobacco, a reduction from a quarter of the global population in 2007. However a report from the WHO claims tobacco companies are getting in the way of measures to reduce smoking in poorer countries. Here's the BBC's Global health correspondent Tulip Mazumdar.
Uganda's central bank has refused to give in to pressure to cap interest rates, charged by banks on loans to businesses and consumers. The government in Kampala has been under pressure to copy Kenya's move to limit interest rates, which was introduced to reduce the cost of borrowing for businesses. But the governor of the Bank of Uganda, Emmanuel Mutebile, says capping interest rates will lead to banks imposing other costs on borrowers, or cutting off loans to small businesses.
The annual Africa Innovation Prize has been won by an Egyptian scientist, Aly El-Shafei, who invented a more efficient bearing for use in turbine generators. The yearly competition seeks to inspire the growth of industrial and technology innovation in Africa, encouraging inventors to create solutions for the challenges facing the continent. Professor Aly El-Shafei told the BBC his invention will help countries generate more electricity.
South Africa plans to stop granting new licences for mining, as well as suspending any renewals, pending a court case to review new mining laws. The industry umbrella group, the Chamber of Mines, has applied to the high court to prevent implementation of the mining charter, which includes raising the level of shares black people should own in mining firms.The industry claims the move could hamper growth and investment in South Africa's mining sector, which has been affected by policy uncertainty, depressed commodity prices, soaring costs and strikes.
It costs a lot of money to develop drugs, which people often depend on to stay alive, or at least to make their lives worth living. There's an outcry in the United States after the cost of some drugs skyrocketed overnight. Including, the cost of Epipens, life-saving syringes which provide an emergency shot of adrenaline for someone who's experiencing a severe allergic reaction. The main supplier of Epipens in the US, Mylan, has been accused of overcharging, as the BBC's Michelle Fleury reports.
China's economy grows and beat forecasts. Kenya's opposition leader tells the BBC that eliminating corruption is a priority And Beijing censors all references to Winnie the pooh.
Presenter: Russell Padmore:
The main headlines....
The G-20 summit of the world major powers considers ways to boost trade and cope with mass migration from Africa......
A British public relations company apologises for a social media campaign in South Africa that critics say was stoking up racial tensions.
And Kenya calls for East Africa to harmonise regulation over the region's insurance industry.....
Dozens of police officers have been injured amid protests by anti-capitalist demonstrators in Hamburg....... The city in Northern Germany is hosting this year's meeting of the G20 group, of the world's leading economies...... The summit will be the first public meeting between the US President Donald Trump and his Russian counterpart, Vladimir Putin, since Mister Trump was elected. Climate change, free trade and ways to manage mass migration, especially from Africa to Europe, will be key themes of the two day summit. Professor Christian Dustmann is the Director of the Centre for Research and Analysis of Migration....
A British public relations company has apologised for its role in a controversial social media campaign in South Africa, that critics say was deliberately inflaming racial tensions. Bell Pottinger admitted the campaign was inappropriate and offensive, and it has fired or suspended four employees. Here's the BBC's correspondent in Johannesburg, Andrew Harding.
Kenya has called for laws that supervise the insurance industry to be harmonised across East Africa, a move which could boost the sector. More from the BBC's Michael Kaloki in Nairobi.
The online service Pinterest is renowned for allowing its users to swap ideas on a range of themes from fashion to the latest ways to decorate homes. The web business makes its money by helping advertisers promote their services to its huge data base of users.....which can be one in five of Americans who surf the internet. Evan Sharp, a co-founder of Pinterest has been telling the BBC that their future strategy is encouraging customers to use pictures to search for ideas......
The development of new technology continues to disrupt many industries.....and it's certainly striking an off key note in the place that considers itself the guitar-making capital of the Philippines. In Lapu-Lapu, near Cebu, three workshops produce hand-crafted guitars and ukuleles. The internet has given them access to new markets, with customers around the world buying their instruments. But modern life means there are strings attached to its success, as the BBC's Timothy McDonald reports. ....
All eyes are on the EU commission today to see if it gives the green light to a massive car giant takeover. General Motors wants a $2.5 billion sale of its Vauxhall and loss making Opel operations to the French company that owns Peugeot and Citroen. Buying GM's loss-making European operations will make PSA the continent's second-biggest car maker after Volkswagen and ahead of French rival Renault. Opel employs 38,000 people across Europe -- but it's feared the deal could put thousands of those jobs under threat - workers in the UK and Germany considered most at risk. Meanwhile demand for new cars across Britain fell for the 3rd month in a row in June. The Society of Motor Manufacturers and Traders said the market was cooling after five years of solid growth. Plus...Why is the East African retail chain, Nakumatt, facing the threat of liquidation and endangering jobs? Uncertainty reigns at a vital Kenyan port and we celebrate the 80th birthday of a tinned meat which kept soldiers on the go during World War II. (Picture credit: Frederic J. Brown/AFP/Getty Images)
More than a-hundred thousand migrants crossed the Mediterranean Sea to Europe in 2017 - half the figure of a year ago. Tanzania passes laws on the renegotiation of mining and gas contracts and China bids its alliance with Africa at the African Union summit
Traders revolt in India, tea prices stagnate in Kenya while a coffee row brews in Uganda
Presenter: Russell Padmore.
The main headlines.
Germany has passed a law to force social media websites to remove hate messages Within twenty four hours.
Ethiopia has asked Saudi Arabia to extend a deadline for undocumented migrants to leave the country.
And one of the world's biggest investment advisory companies has urged African leaders to think long term when planning economic strategy.
After months of heated debate Germany's Parliament, the Bundestag, has voted to bring in one of the toughest pieces of social media regulation in the world. The law obliges technology giants such as Facebook and Google to swiftly remove posts that contain hate speech that incites violence, or face heavy fines. The BBC's Joe Miller reports from Berlin.
Ethiopia has called on Saudi Arabia to extend an amnesty for its citizens who have been working in the country without official permission. Three months ago the Saudi authorities gave a period of 90 days for undocumented migrant workers to obtain an exit visa and leave the country, or face arrest and that amnesty expired this week. It's reported about forty five thousand illegal migrants have gone back to Ethiopia, but it's believed more than four hundred thousand Ethiopians are still in Saudi Arabia. Adam Coogle, from Human Rights Watch, fears undocumented workers could be mistreated.
The global investment adviser Boston Consulting is urging African leaders to stop making economic decisions for short gain and think about a long term legacy. The economic narrative of "Africa Rising", a period when the continent enjoyed a boom in commodity prices alongside significant investment from China, has given way to more a cautious approach by investors. However despite slower growth across Africa Boston Consulting believes there are still profits to be made in some countries. Rich Lesser is the company's chief executive.
South African Airways could hit some financial turbulence today, as loans of hundreds of millions of dollars are due to be repaid and if the debt can't be refinanced the company could be forced to default. More form the BBC's Matthew Davies in Johannesburg.
It's 20 years since China took back control of Hong Kong from the British and two decades on from the handover the territory's economy remains buoyant. However one of the biggest challenges facing the economic planners in Hong Kong, guided by the government in Beijing, is how to cope with a boom in property prices. The BBC's Fergus Nicol has been looking at apartments and meeting prospective buyers in the Chinese territory.
Egypt's Government is raising fuel prices by more than forty percent; China has been identified as Africa's most important economic partner; China named the second most popular overseas destination for African students.
The Gulf states are ratcheting up the pressure on Qatar; A ransomware attack is disabling computers around the world; Botswana has been ranked as the only African Government securing satisfactory benefits for ordinary people from the oil, gas and mining sectors. Plus we have a special report from the world's cast off clothes capital and hear about the elderly lady who threw coins into an aeroplane's engine for good luck.
The US search giant Google is facing a fine of two point seven billion dollars from Europe's competition regulator; Transportation choke points that could threaten global food security have been identified; A pioneering ethical gold intitiative is now underway in the Democratic Republic of Congo.
The airbag maker at the centre of the biggest safety recall in automotive history has declared itself bankrupt. Italy is to fund another massive bank bailout in the hope of preventing a financial meltdown. And East Africa's Governments have agreed a major investment programme in the farming sector. Plus Lucy Kellaway on whether it's better to be young or old at work.
Mobile phone roaming charges have been officially abolished inside Europe; The United States has put up its main interest rate to the highest level since the global financial crisis; financial institutions are criticised for the high cost of sending money to Africa. Plus how "open data" can help African farmers.
Presenter: Russell Padmore.
Headlines: The British Pound has fallen after the UK's governing Conservative Party lost its majority in the General Election.
The German industrial giant Siemens says half of Africa could have reliable electricity supplies within five years.
And greater use of satellites to increase internet coverage across Africa.
The decision of the British Prime Minister Theresa May to call a snap election to strengthen her power has backfired, after her government lost control of Parliament. The outcome of the vote could delay in negotiations for the UK's exit from the European Union and the uncertainty has undermined confidence in the British economy. The Pound Sterling has lost value against currencies like the Dollar and the Euro. It's reported Theresa May could cling to power in an alliance with the small Democratic Unionist Party in Northern Ireland, which won 10 seats. Here's BBC Political Correspondent, Susan Hulme....
The lack of a reliable electricity supply across Africa continues to hold back economic development, but the conglomerate Siemens says that could change quickly if governments cooperate with its plans to build more power stations. The German industrial giant says new technology means it can build more efficient smaller plants to generate electricity. The chief executive of Siemens, Joe Kaeser, told the BBC within five years half of the people in Africa could have access to electricity, compared to about a third of the continent's population today....
With millions of possible new customers to be gained technology companies are experimenting with ways to improve internet coverage across Africa. Google is testing balloons that float high above the earth to relay broadband signals and Facebook plans to use solar powered drones. But one of the world's biggest satellite communications companies claims access to the internet across could be improved by greater use of satellites. Inmarsat believes African telecom companies should make greater use of satellites because it is expensive to install cables in suburbs around major cities and rural areas are losing out. Rupert Davies, the chief executive of Inmarsat, told me more about the plan.
A plan to rescue debt ridden Kenya airways is expected to rushed through the parliament in Nairobi next week, before it closes ahead of elections. The state is expected to swap loans it's owed for shares in the troubled carrier, which is about one point four billion dollars in debt. The BBC's Michael Kaloki reports from Nairobi.
(A major part of the airline's debt is the 243 million dollars worth of unpaid loans owed to the state. The governent will swap this outstanding debt for shares in Kenya Airways as part of a restructuring plan that aims to help the airline fly back into profit. The government hopes to get approval for the deal from MP's before Parliament's term ends next week - ahead of the general election in August. The state currently owns nearly 30 percent of Kenya Airways while Air France KLM has a stake of nearly 27 percent. Kenya Airways almost crashed into bankruptcy with an over ambitious plan to expand its fleet and buy several new aircraft Boeing at a time when passenger numbers were falling.)
Now to Sri Lanka where expensive infrastructure projects are lying unused, even as the country is weighed down by the loans from China which were used to build them. The Sri Lankan economy is struggling with a debt crisis, and so the government is being forced to hand control of some of the projects to China. But that's fiercely opposed by people in some parts of the country. The BBC's Yogita Limaye reports.
Computer experts are casting doubt on the official explanation for the total grounding of the entire British Airways fleet; East African countries are having a combined budget day; Uganda's coffee production is heading for a twenty year high; Plus India goes back in time to find new ways of providing water.
The Emir of Kuwait is mediating to solve the economic and political blockade on Qatar that has been put in place by other countries in the Gulf; Kenya's struggling national airline is introducing direct flights to the United States; President Museveni of Uganda has announced plans for infrastructure spending - but faces accusations of forgetting about the poor. Plus our reporter investigates the artificial intelligence that is attempting to take over in teh home.
South Africa's economy has slipped back into recession for the second time in a decade; Fears grow for migrant workers caught in Qatar's economic stand-off with its Gulf neighbours; Uganda's Government has been accused of failing to tackle corruption in the mining sector. Plus the growth of new types of exotic restaurant in India.
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt have all cut diplomatic ties and trading links with Qatar, accusing it of destabilising the region; Tech companies have come under fire after the latest London terror attack; Kenya's nurses have walked out on strike in a dispute over pay; Uganda's Government confirms plans for a major new airport. Plus our reporter take a motorway ride in a self-driving car.
The 10% increase in the Ugandan budget which doesn't give enough to agriculture according to critics...why sanitary pads are now available to more and more African children and African business reacts to President Trump's decision to pull out of a global accord on climate change.
Uber has sacked the engineer at the centre of the Google lawsuit its facing over the trade secrets of self driving cars; Kenya's President has opened the first part of a key regional railway route built largely with money from China; South Sudan and Kenya still haven't picked their Mps for the East African parliament which is supposed to start work on Monday. Plus as Donald Trump considers whether to continue with the Paris Climate Change agreement, we hear how flood waters are rising in Florida.
British Airways says it's flights are back to normal - now analysts are counting the cost of the global shutdown; The first cargo train is due on Kenya's Chinese funded railway line; East African fisher folk are urged to watch out for signs of an illness that could decimate fish stocks and fears Donald Trump's travel ban on six mainly Muslim countries is scaring away tourists from the US.
British Airways says its services are returning to normal - after a computer crash grounded its flights worldwide; Kenya's Government threatens shopkeepers with five years in jail if they overcharge for maize; Professor Lawrence Mukiibi - Uganda's educational entrepreneur - has died. Plus the singing waiting staff in London's theatreland.
China is introducing a 100% transfer tax on foreign footballers; The Trump administration is being accused of making the biggest accounting error in history in its budget forecasts; Kenya Airways has made smaller loss than last year - but is still heavily in the red and the oil cartel OPEC is meeting to try and agree further production cuts to boost prices.
The foundation stone has been laid in Nairobi for what should one day be Africa's tallest building; The World Health Organisation has chosen its first African leader; Economic worries mean China's credit-worthiness has been downgraded; Uganda is banning recruitment agencies from charging fees from would-be domestic servants heading to the Middle East; and the British film actor Roger Moore has died at the age of 89. He's best known for his role as agent 007 in the James Bond movies - one of the world's most successful and longest running film franchises.
A Brazilian supreme court judge agrees that a corruption investigation can begin into the activities of the country's president, Michel Temer. He became president last year after his predecessor Dilma Rousseff was impeached.
Global stock markets have fallen as investors worry about Donald Trump's future; One of Africa's largest tobacco companies is in the last chance saloon in Uganda; Facebook has been given a big fine by the European Union; we get to the bottom of the court case over second hand underwear. Plus we visit the only land border between Africa and Europe, which draws thousands of Sub-Saharan migrants each year.
Authorities are discussing a laptop ban on planes departing from Europe to the US. Nestle has lost the right to trademark the shape of the KitKat chocolate bar in the UK. And Tullow Oil has made further oil discoveries in Kenya.
Europe's top court has made a landmark ruling affecting future trade agreements. The homes of India's former finance minister have been raided. And Uganda's growth outlook has been downgraded.
Microsoft has criticised the US government over this weekend's global cyber attack. A south African company has said it's plans to buy a large stake in Kenya's Safaricom. And China has pledged billions of dollars to aid globalisation
Presenter: Russell Padmore.
Today's headlines......
A new trade deal between China and the United States.
The president of Somalia tells the BBC economic prosperity is linked to security.
And the Russian mining giant Norilsk Nickel takes Botswana to court, after the sale of a mine falls through.
The United States and China have reached an accord that will allow the trade in beef and chicken between both countries to expand and also permit Chinese banks to operate more easily in the US. Beijing will also licence American credit card companies to operate in China, where the UnionPay system enjoys a near monopoly. The BBC's Asia Business correspondent, Karishma Vaswani, says the agreement comes as China hosts a global summit on trade.
The United Nations has asked donor countries to increase funding for Somalia, to a total of one point five billion dollars, to help restore security, amid continuing attacks by al-Shabaab, an islamist militant group, linked to al-Qaeda. The UN says a combination of conflict and drought means six million people need aid. Somalia's president, Mohamed Abdullahi Farmajo, told the BBC the country needs stability to revive its economy.
The Russian mining group Norilsk Nickel is taking the government of Botswana to court seeking 271 million dollars in compensation following the collapse of the sale of a mining operation. Botswana's state-run BCL group had agreed to buy a 50 percent stake in the Nkomati Nickel Mine from Norilsk, but pulled out citing a lack of funds. The Russian company claims funding of the sale should have been guaranteed by the government. The chief executive of Norilsk Nickel Africa, Michael Marriott, told me more about the agreement.
In South Africa, the MP who was tipped for the job of finance minister in the recent cabinet reshuffle has resigned and is to return to his former job as head of the state-run power company Eskom. Brian Molefe missed out on the top job at the finance ministry, after allegations about his links to the controversial billionaire Gupta family. The BBC's Matthew Davies reports from Johannesburg.
Tanzania is a top producer and exporter of beans in Africa, growing the crop on about one point three million hectares the East African country feeds millions across the continent. The BBC's Sammy Awami travelled to the region of Kagera, close to the border with Uganda, to discover the seeds of the success of this humble vegetable.
Shares in the photo messaging app Snapchat have plunged. Ugandan tour companies are warning about a fall in visitor numbers. A new law could allow more Kenyan farmers to take out loans. (Image: Getty)
Fifa have sacked their head of ethics prompting questions over its commitment to reforms.Kenyan food prices continue to surge. And Toyota has reported a drop in car sales
Exit polls in South Korea indicate a victory for Centre-Left candidate Moon Jae-in. Kenya holds emergency budget over soaring food prices. And Global tech leaders gather in London to discuss the future of Artificial Intelligence
Financial markets are lower as focus shifts from Macron victory to Europe's economy - we get the view from the City of London. Facebook publishes advice to spot fake news in British papers, we find out about a BBC report that shows how influential the social media is in deciding elections. And Nigeria's President Buhari travels to London for medical treatment.
Presenter: Russell Padmore
The main headlines.
Uncertainty over Brexit has forced the banking giant Goldman Sachs to make plans to relocate its European headquarters away from the UK.
Kenya Airways will appoint a former head of Poland's LOT airline as its new chief executive.
And a global surplus of cocoa forces the price of the commodity down for farmers in West Africa.
The chief executive of Goldman Sachs, Lloyd Blankfein, has told the BBC that the financial capital of Europe, London, faces significant hurdles if a "very good" deal is not struck with the European Union for the UK's future relationship with the bloc. The investment banking giant, which employs more than six thousand in the UK, has already made "contingency plans" to relocate workers. However Lloyd Blankfein says he wants to keep London as the bank's European headquarters, but if Brexit talks are not completed soon, the company will have to finalise plans to acquire extra offices space in Dublin or Frankfurt.
Kenya Airways will have a new managing director and chief executive next month. The troubled carrier has appointed Sebastian Mikosz the former head of LOT airline in Poland to revive its fortunes. Here's the BBC's Michael Koloki in Nairobi.
Script by Russell Padmore: Sebastian Mikosz, who also served as the head of the online travel firm eSky in Poland, will face a tough challenge to get debt ridden Kenya Airways flying through smoother skies. He takes over in June from Mbuvi Ngunze, who has faced calls to resign from the airline's pilots, whose trade union said it had no confidence in his ability to steer the company back to recovery. Mister Mikosz faces the challenge of restoring profitability at a loss making airline, burdened with one point four billion dollars of debt.
The price of cocoa has fallen significantly in recent months, as the commodity markets react to a bumper crop in West Africa creating a global surplus. Plantations in countries like Ivory Coast, Ghana and Nigeria are major suppliers of beans, which are exported to food companies, such as chocolate makers, mostly in Europe. The fall in cocoa prices is a setback for economies in West Africa, as well as small scale farmers that grow the crop. Doctor Jean-Marc Anga is the executive director of the International Cocoa Organisation in Abijdan.
South Africa's ruling African National Congress has accused the judiciary of pandering to the opposition with the order for President Jacob Zuma to explain why he fired the former finance minister Pravin Gordhan. The main opposition Democratic Alliance, which filed the court application, has called for a no-confidence motion against Mister Zuma in parliament. The ANC has urged President Zuma to appeal the High Court ruling which triggered street protests against him and led to more calls for his resignation.
How should Africa distribute its prosperity more widely? Many of the continent's economies are expanding. But that's not always leading to more jobs. It's a big focus for discussion at this year's World Economic Forum, in the South African port city of Durban. The aim has been to convince African leaders to adapt their policies to be more "inclusive", so more people benefit from economic growth. From Durban, the BBC's Matthew Davies reports.
Whatsapp -- the messaging service used by more than a billion people worldwide -- has suffered an outage lasting several hours; Piracy is on the rise around the coast of Africa; Kenya's bankers warn of rising cybercrimes on mobile phones; Unemployment - the big issue in the French election.
Apple has recorded a surprise fall in iPhone sales in the first three months of the year; Mixed fortunes for foreign investment in Africa; Rhinos return to Rwanda; Guinness goes vegan and removes the fish guts from its beer making process.
A Kenyan man has won what may be Africa's biggest ever gambling prize; Employers in Kenya are angry at plans to increase the minimum wage by eighteen percent; Union leaders in Uganda say President Museveni has promised them a minimum wage. Plus Lucy Kellaway on the advantages of learning from painful mistakes.
US politicians have done a budget deal, averting a government shutdown. British MPs say social media companies aren't doing enough to tackle illegal content. Kenya has stepped up its maritime dispute with Somalia. (Photo: The US Capitol building. Getty)
United Airlines has promised big changes to the way it handles overbooking, after video of a passenger being dragged from a plane caused international outrage. US President Donald Trump promises to slash corporation tax. And the illegal trade in donkey skins is threatening livelihoods in South Africa. Picture. United Airways aircraft. Credit: Reuters
British tax officers have raided the head quarters of West Ham and Newcastle United football clubs as part of an investigation into fraud.President Trump is expected to slash tax for businesses in the US. And South Africa's plans for nuclear energy face a setback. Picture Credit: Getty Images.
Three people have died in fresh protests as Venezuela's economic crisis deepens - now General Motors has laid off its workers in the country. Tea exports from east Africa have fallen by a quarter. The International Cocoa Organisation is moving its headquarters from London to Ivory Coast.
Facebook says it is working on technology that will allow us to control computers using only our brains. Premier League clubs have posted record revenues but failed to make a profit. And Tanzanian doctors due to start work in Kenya, have been the hired by the Tanzanian government instead. Picture: Facebook CEO Mark Zuckerberg. Credit: Getty Images.
Presenter: Russell Padmore:
The main headlines.....
The internet accommodation service AirBnB will improve security of its website after criminals burgled people's homes using stolen accounts.
Confusion for farmers in Zambia after the government reverses a ban on imports of fruit and vegetables.
And Kenya considers legalising marijuana.
AirBnB has promised to tighten online security, after a BBC investigation found people's homes had been burgled by criminals using stolen accounts. The scammers hijacked accounts and changed personal details used to book properties. AirBnB will warn members if somebody changes their profile information. The BBC spoke to Christian, who was burgled when he rented out his apartment.
Farmers in Zambia have criticised the government for reversing its decision to ban imports of certain fruits and vegetables, which was aimed at encouraging supermarkets to buy produce from local growers, instead of suppliers in South Africa. The government says it cancelled the order to comply with the rules of the COMESA trade bloc. Graham Rae is a commercial farmer in Zambia.
Supermarkets have been accused of importing fruit and vegetables from South Africa at the expense of small farms in Zambia. Henry Jere, a manager with the Food Lovers chain in Lusaka, told the BBC Zambian farmers are not growing enough to meet demand.
Could Marijuana be openly available soon in Kenya? Politicians are seeking views on the economic value of marijuana, or cannabis, to consider legalising it. More from the BBC's Michael Kaloki in Nairobi.
Complex land laws are being blamed for delaying key infrastructure projects in Uganda. Projects affected include a rail network to connect Kenya with the DRC, Rwanda and South Sudan as well as the Kampala - Entebbe Expressway. People who own land required for construction are refusing to give it up, forcing the authorities to reconsider offers of compensation. The finance Minister, Matiya Kasaija, fears the plan to build an oil pipeline from the West of Uganda to the port of Tanga, in Kenya, could also be delayed, unless the government passes a new law to speed up land acquisition.
While efforts are being made to expand car manufacturing in Africa, the industry is about to close its last factory in Australia. Last year Ford took the decision to close its two Australian automotive plants, while Toyota is about to close down its factory in Melbourne and General Motors is ready to pull down the shutters on its operation in Adelaide, where it has made Holden cars since the 1930's. Thailand is becoming a regional centre in Asia for building cars, because labour costs are cheaper. But what does the future hold for thousands of workers in the Australian automotive industry? The BBC's Vivienne Nunis reports on how Toyota is helping staff find another job.
Venezuela is seeing its biggest protests in three years as an economic meltdown leaves shelves in many supermarkets empty. Tanzania's President has laid the foundation stone of a new railway line that he says will create more than half a million jobs. And more than three thousand workers building Uganda's one-point-six-billion dollar Karuna hydroelectric dam have gone on strike.
Thousands of people are on the streets in South Africa calling for President Zuma to resign. Members of the US Senate are demanding an explanation as to why a doctor was violently dragged off a United Airlines plane because too many seats had been sold. Phone users in Uganda are being ordered to re-register their mobiles within seven days. Plus why immigrants from Sub Saharan Africa who originally wanted to head to Europe are increasingly setting up home in Morocco.
The United Airlines CEO has defended his staff's forced removal of a passenger. Toshiba has reported losses of around five-billion dollars. And the price of rice is set to fall in Uganda as the government waives the 75% import duty. Picture: United Airlines CEO Oscar Munoz. Credit: Reuters
The BBC has seen evidence that executives at the Anglo-Dutch oil company, Shell, knew that money paid to the Nigerian government for an oil field would be passed to a convicted money-launderer. Also, a new freight rail line opens up between the UK and China and electricity prices fall in Uganda. Picture credit: Getty Images.
Hello I'm Russell Padmore.
Oil and gold prices rise after the US missile strike on Syria.
Protests in South Africa against the president's management of the economy.
And East Africa set to gain foreign investment as funds shy away from South Africa following the downgrade to junk.
Early this morning this deadly sound was heard on board US Navy warships in the Mediterranean.
One of 59 Tomahawk cruise missiles fired at an airbase in Syria which Washington believes was the launch pad for a chemical attack which killed about 70 people this week.
Speculation of America stepping up involvement in the Syrian war caused a spike in the price of oil and gold to rise in value.
Gold is a traditional safe haven for investors in times of crisis.
Here's President Donald Trump explaining why he ordered the missile strike.
Thousands of people have taken to the streets of several cities in South Africa today.
They've been marching to protest against President Jacob Zuma to demand his resignation.
South Africa is mired in an economic crisis, highlighted by Mister Zuma firing the Finance Minister Pravin Gordhan last week, which dismayed foreign investors and prompted the credit ratings agency Standard and Poors to downgrade the nation's debt to junk status.
Mike Brown the chief executive of Nedbank, told the BBC it will not damage the financial sector, but growth will be more challenging.
Economies in East Africa are set to benefit from South Africa's credit rating suffering a downgrade to junk.
It will prevent foreign funds putting money into Johannesburg which means investors seeking a good return from Africa will look elsewhere in the continent.
Christie Viljoen, an economist at KPMG in Capetown, told the BBC South Africa's problems will not damage neighbouring nations and investors will find the East African Community more attractive.
Over the past few weeks the relationship between food and religion has rarely been out of the news in India. The Hindu religious faithful want to protect animals, such as cows and ban slaughterhouses, but if meat is restricted millions of jobs will be at risk and it would become more difficult to feed India's growing population. The state of Gujarat has made the sentence for killing a cow life imprisonment and in the country's largest state, Uttar Pradesh, meat traders went on strike after the government ordered a clamp down on slaughterhouses . The BBC's Rahul Tandon starts his report in the North Indian city of Lucknow.
South Africa's biggest union is calling for President Jacob Zuma to resign. Scientists say they can now sieve the salt out of seawater. Uganda's President is warning Government officials not to scare away investors.
The new conurbation Xiongan New Area , 100km south-west of Beijing is expected to shore up the country's economic growth prospects. Uganda's Agriculture ministry is warning of weed that can wipe out entire crops. And the man behind the instruments that created the electronic music revolution of the 1980's has died.
The South African president Jacob Zuma has fired his finance minister along with eight other ministers in an extensive cabinet re-shuffle announced after midnight. The EU has revealed its strategy for Brexit negotiations. And history is made when a used rocket is launched back into space. Picture: Finance Minister Pravin Gordhan remained defiant in the wake of his sacking. Credit: AFP
The insurance giant Lloyds of London is opening a Lloyds of Brussels subsidiary because of Brexit. Kenya's finance minister is about to deliver the annual budget - with food prices at record highs. Samsung has unveiled its first major new phone since the fire-starting S7. Plus now the UK has officially triggered Brexit, we hear the concerns of expats living on the coast of southern Spain.
The process of withdrawing the UK from the European Union has formally begun - nine months after voters opted for Brexit in a referendum. A nuclear company belonging to the Toshiba Corporation has filed for bankruptcy protection. And Samsung will release its latest mobile phone model today, at simultaneous events in London and New York. Picture credit: PA
US President Donald Trump will today sign an executive order overturning measures that were part of Barack Obama's plan to curb global warming. American Airlines is set to invest in China's aviation market. And Uganda's policy of prioritising local businesses comes under fire from the country's Central Bank Governor. Picture credit: Getty Images.
Uganda's tourist board has criticised Kenya Airways' decision to increase baggage fees for passengers travelling within East Africa. The markets have reacted to Donald Trump's failed attempt to repeal Obamacare. And a debate over intelligence agencies' access to encrypted messages. Picture Credit: Public Domain Via Wikipedia Commons.
The price of oil has touched its lowest level in four months on international markets, Kenya's Government is trying to use mobile phones to borrow money, and Uganda is tightening up the rules on gambling over fears young people are developing bad habits.
Markets around the world have been falling on fears Donald Trump will struggle to implement his spending plans; American news media are reporting that the new restrictions on flights from locations in the middle east and north Africa have been prompted by a specific terror threat; The head of the World Bank is in Rwanda with fifty-seven billion dollars of development cash up for grabs. Plus why sales of premium gin are soaring.
The US has banned passengers from carrying large electronic devices on some inbound flights. Google has ramped up efforts to stop ads being placed near extremist content. And a warning for East Africa to adapt to climate change or face further food shortages. Picture credit: AP.
The mobile market in India has seen some dramatic price cuts in recent months and now two big established operators say they will merge to cope with the increased competition from new entrants. The British mobile giant, Vodafone, has announced that it's merging its Indian operation with a local rival, Idea Cellular, to create the largest telecoms operator in the country. The World Bank has announced a funding package worth nearly $60bn dollars for sub-Saharan Africa. And the President of Uber has resigned after less than six months in the job. Picture: A Vodafone store in India. Credit: Getty Images
The delegates from the group of twenty major economies will discuss the prospects for the global economy in the light of Donald Trump's strategy to rebalance America's trading relationships.
The US Treasury Secretary, Steven Mnuchin has said he and his German counterpart, Wolfgang Schaeuble will work together to boost global growth and achieve a balanced trading relationship.
European leaders have been congratulating the Dutch prime minister, Mark Rutte, on his clear electoral victory over the anti-EU, anti-immigration Freedom Party, which had been tipped to do well. Kenya has announced a ban on plastic bags and one of the world's biggest diamonds has been discovered in Sierra Leone. Picture: Dutch Prime Minister Mark Rutte. Credit: Getty Images
The 2005 tax return for US President Donald Trump is leaked to the press.
Kenya's doctors return to work after 100 days on strike.
The Netherlands heads to the polls in a closely fought and controversial election.
(Photo by Michael Reynolds-Pool/Getty Images)
The European Union's highest court says companies can prohibit workers from wearing visible political, philosophical or religious symbols.
Uganda lifts a two-year-long ban on citizens working as maids in the Middle East.
And piracy may be resurgent in waters off Somalia.
South Korea's highest court has removed the President from office, over a corruption scandal. Taxi drivers in South Africa have staged a protest against Uber. And farmers in Kenya have called on the government to stop violence by pastoralists. Picture: Ousted South Korean President Park Geun-hye. Credit: Reuters.
Documents released by Wikileaks suggest the US and UK spy agencies had the capability to tap smartphones and smart TVs, turning them into covert microphones. A parliamentary probe in Uganda has raised questions about oil revenue spending. And demand for donkey skin has led to a rise in the theft of the animals in Kenya. Picture: An Apple iPhone. Credit: Reuters
US President Donald Trump has issued a new travel ban on people from six mainly Muslim states. There are new fears of a credit downgrade in South Africa. And in Jamaica, there are plans to re-establish the country's record pressing industry. Picture: US President Donald Trump signs an Executive Order
The French owner of Peugeot will buy Opel and Vauxhall from General Motors in a deal worth more than $2bn. Kenyan businesses are facing their most difficult operating conditions for three years. And a new style of cooking stove is being trialed in Ghana, to reduce air pollution. Picture: Vauxhall cars on the production line. Credit: Vauxhall.
Bitcoin has overtaken the value of gold for the first time. Uber drivers in Kenya are demanding better pay and conditions. And manufacturers in Uganda say they are operating at just 50% capacity. Picture Credit: Reuters
Snapchat's parent company Snap has been valued at $24 billion dollars, ahead of its public listing. Uganda has launched a trade policy that could see foreign goods removed from supermarket shelves. And Tanzania has banned the sale of small alcohol sachets. Picture: Snapchat logos. Credit: Reuters.
The boss of the ride-sharing app Uber has apologised after video footage emerged of him swearing at a driver. Coca-Cola and Pepsi are facing a boycott from traders in the Indian state of Tamil Nadu. And the Kenyan government has made another push to expand the country's leather industry. Picture: Uber CEO Travis Kalanick. Credit: Getty Images.
The heir to the phone giant Samsung is to be charged with bribery and embezzlement. New figures show Nigeria's economy is shrinking. And a green light for Kenya's first coal-fired powered plant. Picture: Samsung heir Lee Jae-yong. Credit: Getty Images
The London Stock Exchange warns it cannot obtain European Commission approval for the $31bn deal.
China responds to Donald Trump's accusations of currency manipulation. Kenya passes a safety check that will allow direct flights to the US. And Japan encourages workers to finish early, one Friday of the month. Picture: Bundles of yuan, the Chinese currency. Credit: Getty Images.
The chief executive of Barclays Bank says Donald Trump should think twice before scrapping current banking rules. Meanwhile Barclays has given details of its upcoming split of Barclays Africa from the London headquarters. And the last remaining protestors have been cleared from the site of a multi-billion dollar oil pipeline in London.
Donald Tsang will serve twenty months in prison for failing to declare a conflict of interest related to a luxury flat he was buying. Burundi is the latest country to ban Ugandan chicken over bird flu fears. And researchers say criminal cartels are controlling the economies of poor neighbourhoods in Kenya.
Presenter: Russell Padmore:
The main headlines......
Shares in Unilever have fallen after Kraft Heinz abandoned its takeover plan......
The head of project to generate power in Mozambique wants to export electricity to other countries in East and Southern Africa........
And Egypt's president talks about boosting trade on a trip to Kenya.......
On Friday the American food giant Kraft Heinz offered 143 million dollars to buy the consumer goods giant Unilever, but the European company rejected the plan. Kraft owns brands like Heinz Ketchup sauce, or Cadbury chocolate, while Unilever makes products like Dove Soap or Lipton's tea. The financial markets were rife with speculation that the American firm would return with a sweetened offer, however late Sunday Kraft Heinz announced it was walking away and giving up the idea. Martin de Boo, a consumer good analyst with Jefferies International told the BBC Kraft was not prepared to launch a hostile bid......
A company that is developing a power station in Mozambique, which will use reserves of natural gas discovered offshore, wants to enhance the project to share the electricity generated with other countries in East and Southern Africa. Humphrey Kariuki, the Chairman of GL Africa Energy, believes the project is a key milestone towards fulfilling the company's mission to generate a thousand megawatts of electricity in the Great Lakes and Southern Africa region by 2020. He told me the gas fired power station will export electricity from Mozambique using lines set up under a regional agreement.
The President of Egypt, Abdel Fattah Al Sisi, is on a state visit to Kenya, hoping to develop trade between both countries, an issue that has been high on the agenda in talks with the Kenyan leader Uhuru Kenyatta. More from the BBC's Michael Kaloki in Nairobi......
America's multi-billion sport of professional basketball is coming back to Africa. The League and National Basketball Players Association has announced that NBA Africa Game 2017 will be held on August the fifth in Johannesburg, the second time the NBA will play in the continent, after a sold-out event also in South Africa in 2015. NBA Commissioner Adam Silver says going back to South Africa is part of the sport's global aim of expanding the game.....
How was Monday for you......the day when many people get the so called Monday Blues.....a sinking feeling on returning to work after the weekend. Experts claim most of us get it at some time, but some people sink into the blues at work all the time, a sure sign they're very unhappy in their job. Something to think about for our regular commentator, Lucy Kellaway, of the Financial Times:
The heir to South Korea's biggest business, Samsung, has been arrested and accused of bribery. The case against Lee Jae-yong is linked to the scandal that led to the impeachment of President Park Guen-hye.
Photo: Lee Jae-Yong (C), vice chairman of Samsung Electronics, arrives to be questioned as a suspect in a corruption scandal that led to the impeachment of South Korea's President Park Geun-Hye, at the office of the independent counsel in Seoul on February 13, 2017. Credit: Getty Images.
US President Donald Trump's choice for Labor Secretary, Andrew Puzder, has withdrawn his nomination, a day before his confirmation hearing. Banks in South Africa have been accused of manipulating currency markets for profit. And two new mobile money services have launched in East Africa. Picture: Andrew Puzder (R) is the first of Mr Trump's cabinet picks to fail to secure a nomination Credit: Reuters
US President Donald Trump has overturned a regulation that forced energy and mining companies to disclose information about the payments they make to foreign governments. Drought-stricken Uganda says it will spend $15m on food aid. And Tanzanian authorities crack down on illegal foreign workers. Picture: US President Donald Trump. Credit: Getty Images
The chairman of Toshiba has resigned after his firm lost $3.4 billion. The crop-destroying army worm is on the agenda at an international meeting in Zimbabwe. And livestock is being quarantined in Uganda after an outbreak of foot and mouth disease.
Picture: Toshiba chairman Shigenori Shiga, who has resigned.
Last week it was Japan's Shinzo Abe dropping in on President Trump. This time, it's the Canadian Prime Minister Justin Trudeau. Apart from hot political topics like immigration, the North American Free Trade Agreement could also be high on the agenda. Three quarters of Canada's exports head to the United States at the moment. So Donald Trump holds all the cards here if it comes to ripping up deals, doesn't he?
Christophe Bondy is an international trade lawyer, based in London, formerly Senior Counsel at Canada's Trade Law Bureau.
Photo: Trump (L) and Trudeau (R). Credit: Getty Images.
Donald Trump is tweeting his anger at a US department store Nordstrom for dropping his daughter's clothing line from its stores. Japanese car parts maker Nisshinbo reported to be the latest to scrap plans for a factory in Mexico. And Kenya and Uganda can't agree on diesel or electric for a joint railway project.
The boss of Disney, Bob Iger, fears protectionist policies by the Whitehouse could damage his business. Mps in Somalia are choosing the country's new President. And local authorities in Uganda are banning food exports because of shortages at home.
Judicial sources in France say the former president, Nicolas Sarkozy is to face trial over allegations of illegal campaign financing linked to his failed re-election bid in twenty-twelve. Prosecutors claim Mr Sarkozy exceeded spending limits of twenty-four million dollars by getting a public relations company to invoice his centre-right party - rather than his campaign.
Photo: Sarkozy. Credit: Getty Images.
The mayor of the Chinese capital Beijing has vowed a cut in coal use to reduce emissions; in Uganda, a parliamentary committee demands a review of the country's new rail line contract; and in Britain, lawmakers will debate the introduction of a ban on domestic ivory trading.
EU leaders are meeting in Malta today - Libya, migration and Brexit are on the agenda, s well as the new administration in the US.
1,750 migrants were picked up by the Italian coastguard in the mediterranean in 24 hours this week - an extraordinary number for the time of year.
And for the first time Japan is starting to take Syrian refugees - 300 will be allowed to settle there.
Photo: EU leaders in Malta. Credit: Getty Images.
The social media giant, Facebook, has reported a sharp rise in profits. The company earned more than $3.5bn dollars in the last quarter of 2016. Employees of Total are on strike in Uganda. And Zimbabwe has imposed a new tax on basic foods. Picture: Facebook icons Credit: Getty Images
In its latest results, Apple says it's selling more iPhones than ever before. For most of 2016, Apple suffered falling revenue - due to increased competition to the iphone, from cheaper, Chinese rivals. But now it's returned to growth. We hear from the BBC's correspondent in San Francisco.
Saudi Arabia has praised President Trump's support for fossil fuels. We hear from the country's oil minister. And Volkswagen has agreed to pay more than one billion dollars compensation to American car owners.
Picture: The Apple iPhone 7 for sale. Credit: Getty Images
US President Donald Trump has sacked his acting attorney-general after she told government lawyers not to defend his controversial immigration ban. Suspected animal smugglers have been arrested in Ivory Coast over the trafficking of baby chimpanzees. And the African Development Bank has promised to make electricity more affordable for Ugandans.
Picture: Sacked US acting attorney-general Sally Yates Credit: Getty Images
Demonstrations have taken place in cities across America against a temporary travel ban on people from seven Muslim-majority countries. But the president and his supporters remain defiant.
Photo: Susan Barimo joins with other protesters as they stand together at the Miami International Airport against the executive order that President Donald Trump signed clamping down on refugee admissions and temporarily restricting travelers from seven predominantly Muslim countries on January 29, 2017 in Miami, Florida. Credit: Getty Images
Mexico has reacted sharply to the US suggestion that a new import tax could be applied to Mexican goods to pay for President Donald Trump's proposed border wall.
The Central Bank of Uganda has announced the sale of Crane Bank.
And a Kenyan MP has called on alcohol companies to pay compensation for drinking-related injuries.
Picture: Some fencing already exists on the 3,200km US boundary with Mexico. Credit: Getty Images
Donald Trump's supporters say the new president is the root cause in America's main share index reaching its highest level ever. A key Whitehouse advisor says the Euro could be finished within eighteen months. And why optimism from the head of the IMF isn't going down well with everyone in Uganda.
President Trump is expected to sign orders today to build a US-Mexico border wall; Kenya's drought causes problems for its tea-manufacturers; and Transparency International says corruption is on the rise
Australia and New Zealand say they believe a big free trade deal - which President Trump has just abandoned - can be salvaged. There are plans to investigate why labour laws keep being broken in Rwanda And the Head of Formula 1 racing Bernie Ecclestone has been removed after a takeover. I'm Katie Hile at the BBC's business unit in London.
It's claimed millions of dollars could be missing from state funds in Gambia following the departure of long-time ruler, Yahya Jammeh. Uganda's poultry farmers say they've lost 700,000 dollars in earnings since an outbreak of Bird Flu. Samsung confirms its Note 7 smartphone caught on fire because of faulty batteries I'm Katie Hile at the BBC's business unit in London.
Final preparations are underway for the inauguration of Donald Trump as US president. Uber will make a multi million dollar payout to settle claims that it misled drivers and one of Africa's largest banks has announced a series of branch closures.
(Photo: The Washington Monument is seen from the West Front of the U.S. Capitol. Credit: Scott Olson/Getty Images)
The Gambia's new president will be sworn in outside the country; in Uganda, the government faces a difficult decision on development spending; and in Kenya, university lecturers join the country's doctors on strike
The boss of Samsung is in a south Korean detention centre waiting to hear if he'll be arrested for bribery. Rwanda is banning all imports of chicken from Kenya over bird flu fears. And why President Museveni of Uganda is urging regional colleagues to turn away from second-hand clothes
The President of China, Xi Jinping has urged world leaders not to lose faith in free trade. Kenya is banning all imports of chicken from Uganda over bird flu fears. And Venezuela is releasing new bank notes, weeks after previous notes were suddenly withdrawn from circulation.
The Italian US car giant Fiat Chrysler is denying accusations by the US environmental regulator that it's involved in a Volkswagen style emissions cheating scandal. Private sector bribery and corruption in Kenya could now mean a ten year jail sentence. And Nintendo has launched its latest video game console.
US President Elect Donald Trump has clashed with reporters and denounced one of the most prominent US media outlets, CNN, as 'fake news'.
And the Kenyan government has warned its population to prepare for the worst drought in 5 years.
(Photo description: President-elect Donald Trump speaks at a news conference at Trump Tower. Photo credit: Timothy A Clary/AFP/Getty Images).
The Chief Executive of one of Africa's largest independent oil companies, Tullow Oil, has stepped down after 31 years.
Norway says it's switching of radio broadcasts in FM.
And the IMF warns Tanzania about the strength of its economy.
(Picture description: A worker checks a dial on a Tullow Oil 'Floating Production Storage and Offloading' vessel. Photo Credit: Nicky Loh/Bloomberg via Getty Images)
FIFA has approved plans to expand the football World Cup Finals from thirty-two to forty-eight teams.
The Gambia's Communication Minister has resigned his post in protest against President Jammeh's refusal to step down.
And striking doctors in Kenya have been warned they face the sack unless they return to work.
(Photo description: Cookies decorated with footballs, the FIFA logo. Photo credit: Samuel Corum/Anadolu Agency/Getty Images)
The US Italian car-maker, Fiat-Chrysler, is bringing thousands more manufacturing jobs back to the United States. Kenya has suffered its worst power blackout in a year. And the fast food giant McDonalds is selling eighty percent of its Chinese business.
Presenter: Russell Padmore
The main headlines......
Donald Trump continues to challenge global corporations about diverting investment and jobs away from the US......
Germany faces claims for compensation over land seizures in Namibia a century ago.....
And the technology giant Cisco warns a shortage of skilled workers is deterring digital development in Africa.....
Shares in the carmaker Toyota, have recovered after suffering a three-per-cent drop in early trading, following a warning from Donald Trump that if the Japanese company builds a new factory in Mexico to make cars for the US, it should expect to pay high import duties. The President elect continues to use Twitter to press corporations about their strategies. The chief executive of Sony, Katzuo Hirai, told the BBC he's concerned that national leaders, like Mr Trump, could create uncertainty that disrupts long term global investment.....
Descendants of the Herero and Nama people of Namibia have launched a lawsuit in the US seeking damages from Germany for what they claim was a campaign of genocide by colonial troops in the early nineteen hundreds that led to more than a hundred thousand deaths. Talks to reach a settlement on compensation have excluded the indigenous and tribal leaders who say they want a seat at the table. Land and assets were seized when the Herero and Nama groups rebelled against German rule in the former South West Africa, now Namibia. Kenneth McCallion is the laywer who's representing the Namibian groups....
Many countries in Africa lag behind global development of technology, with e-commerce and other online activities restricted by limited access to the internet. However poor broadband coverage is not the only reason behind Africa's digital divide. According to the technology giant Cisco a shortage of skilled IT experts is deterring countries from investing more to digitise the continent. Andy MacDonald is the vice president of Cisco Africa....
Donald Trump will be inaugurated as the 45th president of the United States in less than three weeks. Already though, his campaign pledge to repeal what's become known as Obamacare is leading to a war of words in Washington. President Obama's Affordable Care Act offered the promise of basic healthcare for all Americans, for the first time in US history. But Republican vice-president-elect Mike Pence believes it has failed:
Obamacare extended health insurance to 20 million Americans. So why is it so controversial?
The BBC's Jane O'Brien reports from Washington:
China's government promises millions of jobs alongside a huge investment in renewable energy; South Africa sees production and output rise on increased domestic demand; and Kenyan importers cause the country's shilling to slide to a 15 month low
U.S. carmaker Ford says it will cancel a planned $1.6 billion plant in Mexico; Nigeria has awarded more than half its 2017 crude oil contracts to foreign firms; and an Australian firm sells a lithium concession in Mali for a massive profit
Hong Kong's former leader has pleaded not guilty in court to corruption charges
China fines hundreds of factories that violated work restrictions to curb air pollution.
The trial of the son of Equatorial Guinea's leader has opened in France.
Picture: Justin Chin/Bloomberg via Getty Images
It's deadline day for Indians to deposit discontinued rupee notes.
Loans to the Mozambique government meant for the tuna industry could instead have paid for weapons.
And, stressed at work? Why a dog could be the answer.
Benjie Guy, BBC business unit, London.
In Tokyo, Toshiba's shares fall for the third successive day; Amazon denies U.S. Police requests for recordings from its Echo device; and Rwanda's Central Bank tries to encourage lending.
Toshiba's shares fall for the second day, after the company announces surprise cost rises; the Fitch ratings agency downgrades Kenya's economic forecast; and in South Korea authorities arrest the head of the country's national pension fund.
The European Central Bank threatens the rescue of Italy's oldest bank Monte dei Paschi; a new report shows East Africa's economy is the continent's most competitive; and George Michael's generosity is revealed in death.
Deutsche Bank agrees to pay a 7.2 billion dollar fine to US regulators, Italy's cabinet has approved a state-bailout for the country's third-largest bank, and revenues for Egypt's Suez Canal have dropped.
President Elect Trump has appointed controversial economist Peter Navarro, who is sceptical of America's relationship with China, to a new high-profile trade post.
Nigeria has seized two-and-a-half tonnes of plastic chippings intended to be sold as rice.
The African Development Bank is pushing for more female MPs in the continent.
Photographer: Andrew Harrer/Bloomberg via Getty Images.
US President Obama has banned new oil and gas drilling in US Atlantic and Arctic waters.
The UK is proposing new laws that mean drone owners will need a licence to fly them.
And Kenya's postal company decides to enter the bus market.
Photo: Pete Marovich/Getty Images
A French court has found International Monetary Fund chief Christine Lagarde guilty of negligence but did not hand down any punishment.
The United Nations envoy for West Africa has called for sanctions to be placed on The Gambia.
And Tanzania's farmers are being hit by falling cashew nuts prices.
Photo: Andrew Harrer/Bloomberg via Getty Images.
The Republic of Ireland has appealed against a $14 billion fine over Apple's tax affairs.
BP is investing $1 billion exploring for natural gas off the west African coast.
Many Sudanese are staying at home in protest at the rising cost of living.
(Photo: Getty)
Japan overtakes China to become the biggest foreign lender to the US.
Niger is being offered hundreds of millions of dollars to curb migration to Europe.
Barclays insists there are big investment opportunities in Africa even as it quits the continent.
Photo: Reuters
Internet search giant Yahoo says more than one billion accounts were compromised by hackers in 2013
European Union leaders meet to discuss Britain's withdrawal.
And Amazon starts its prime video service in Kenya.
Picture: Noah Berger/Bloomberg via Getty Images
Donald Trump and China lock heads over Taiwan.
Brazilians protest a twenty year public spending cap.
And British MPs blast the $360 million building of an airport on St Helena that can't be used fully due to high winds.
Photo: JOHANNES EISELE/AFP/Getty Images
The World Health Organisation has said China's plans to cut back on smoking face serious state-based hurdles.
Venezuela closes its border with Columbia.
And the International Monetary Fund approves $659 million in funds for Ivory Coast.
Photo by Zhong Zhi/Getty Images
The South Korean parliament has voted to impeach the country's president.
Zimbabwe is freezing public sector wages.
And many homes in Ivory Coast will receive post for the first time, thanks to a new system of postal addresses.
Photo by Kim Min-Hee-Pool/Getty Images
Russia plans to sell off part of the state-owned oil company Rosneft; Michael Jordan wins a trademark case against a Chinese shoe manufacturer; and Nigeria's sports minister explains why the country has so far failed to pay its victorious female football stars.
India's Central Bank leaves interest rates unchanged but limits press access; Authorities in Kenya say new roads should solve Mombasa's traffic problems; and a South African bank closes accounts linked to financial backers of President Zuma
South Korean executives have apologised for their role in a presidential bribery scandal; Facebook has helped launch a scheme to restrict online extremism; and a troubled South African university will raise its fees next year.
Presenter: Russell Padmore.
The main headlines......
Renewed fears for Europe's economy - the prime minister of Italy will resign after losing a referendum.
Nigeria and Morocco have signed a deal to build a pipeline to supply gas from West Africa to Europe.
And the World Bank says the prospects for Ghana's economy look healthy.
European Union government ministers have insisted the eurozone will not be plunged into crisis by the people of Italy voting against plans to change the country's constitution in a referendum at the weekend. It's feared the resignation of Italy's prime minister, Matteo Renzi, could derail plans to help the country's troubled banks. Earlier today financial markets fell but shares have since recovered some lost value. Here's BBC Economics Correspondent Andrew Walker.
Nigeria and Morocco have agreed to construct a gas pipeline that will connect the two nations and some other African countries to Europe. The agreement was reached during a visit by the Morocco's King Mohammed to the Nigerian capital Abuja at the weekend. Nigeria and Morocco have also agreed to develop other businesses such as production of fertilisers for farming. Africa's richest man, the Nigerian entrepreneur Aliko Dangote, says the deal will be very good for both economies.
On Wednesday the people of Ghana will vote in presidential elections, with the country's financial crisis one of the key issues. The two leading candidates, Nana Akufo-Addo and the current president John Mahama, are completing final appeals to voters at the end of a bitter campaign. Ghana's economy has benefited from exports of gold, cocoa and oil, but the West African country which was once hailed as a model for growth in the region, has run into a financial crisis because of heavy borrowing by the government. Henry Kerali, Ghana's country director for the World Bank, told the BBC the nation's economic prospects look bright.
According to media reports Malawi has formally protested to the international community about a dispute with Tanzania over which country controls Lake Malawi. The Lake, which is called Nyasa by Tanzania, could have rich reserves of oil and gas, but the border that marks the territory between both countries in subject to dispute. Tanzania is promoting a new map showing that the East African country owns part of Lake Malawi, which has prompted Malawi to urge the international community to disregard it. The neighbours have disagreed over their border for many years since independence, but renewed speculation about the lake having vast oil and gas reserves has re-ignited the ongoing dispute over the boundaries on Lake Malawi. Malawi has awarded oil exploration licences to energy firms to drill for oil in the lake.
The chief executives of some companies are renowned for being outspoken or making unusual speeches.......Michael O'Leary, the head of one of the world's biggest airlines, Ireland's Ryanair comes to mind...he does not mind upsetting politicians.....Donald Trump, US President Elect is another corporate leader who has become renowned for plain speaking.......But can the CEO of one of the biggest global consumer brands really mean it when he sends his "love" to his employees - ALL of them? ......Lucy Kellaway of the Financial Times is doubtful......
The mayors of four of the world's major cities say they will ban the use of all diesel-powered cars and lorries by 2025.
The leaders of Paris, Mexico City, Madrid and Athens say they want to improve poor air quality, which has been linked to three million deaths a year.
They made the commitments at a meeting in Mexico.
Oil cartel OPEC has agreed to cut production.
There are hopes a boost to the oil price will lift economies across Africa
And voters head to the poll in Gambia
Picture: BARBARA GINDL/AFP/Getty Images
Former Goldman Sachs Partner and Film Financier Steve Mnuchin may be named as the next US Treasury Secretary
Zimbabweans respond to the country's new currency
And Kenya is concerned mobile payments could lead to a financial crisis.
JEWEL SAMAD/AFP/Getty Images
Mobile phone maker Samsung has said it's thinking about splitting into two separate firms.
Britain's government is outlining plans to curb executive pay.
And professional footballers in Africa may earn a lot less than you'd think.
Photo by David McNew/Getty Images.
Presenter: Russell Padmore:
Hello I'm Russell Padmore with this Business Update from the BBC.
The main headlines today:
France's Conservative Party has selected a candidate to run for president who has promised to shake up the economy.
Three cabinet ministers have called for South Africa's president to resign.
And Zambia has banned trucks and buses from travelling at night.
A former French Prime Minister, Francois Fillon, has won the nomination to be the centre-right candidate in next year's Presidential election. Mister Fillon easily defeated his rival, Alain Juppe and he is now widely expected to face the leader of the far-right National Front, Marine Le Pen, in the final round of voting next year. Francois Fillon's economic strategy could see a major shake up for France as he has talked about major cuts to public spending, raising the retirement age, scrapping the 35-hour working week, and cutting back social security. Sophie Pedder is the Economist's correspondent in Paris.
South Africa is heading for another week of high drama, in both the spheres of economics and politics. President Jacob Zuma is facing a vote of no-confidence from with his own ANC party. It comes just days before the ratings agency Standard and Poors is scheduled to deliver its latest review on the country's debt, which could see it cut to so-called junk status. From Johannesburg, here's the BBC's Matthew Davies.
From today trucks and buses will be banned from travelling at night in Zambia. The government in Lusaka has passed a law to keep lorries and buses off the country's roads during the hours of darkness in an effort to reduce accidents. More from the BBC's Jonathan Frewin.
Script by Russell Padmore: Zambia has banned all public service vehicles, whether they are carrying passengers or goods, from driving between the hours of 2100 and 0500.....It follows an increase in accidents involving trucks or buses, with 55 percent of collisions happening at night. The Zambian Government is urging the private sector to invest in truck parking infrastructure and overnight bus stops with internationally acceptable standards.....Zambia has more than 38 thousand kilometres of roads, but only about half of them are either tarred or all weather gravel roads. Dangerous dirt roads with no markings are common and although the condition of main routes is improving truck and bus drivers are warned to carry a range of tools, two spare tyres, rope, plus spare fuel and water.>
Zimbabwe is beginning to introduce a new national currency, seven years after it abandoned its local dollar because of hyperinflation. The central bank has given the currency, called bond notes, a value equivalent to the US dollar, which alongside the South African rand has become Zimbabwe's defacto currency....Here's the BBC Zimbabwe reporter Shingai Nyoka.
Take a look at the shelves in your local bookstore or check what is available from online publications specialists and you will see guides on the best way to run a business and self-help books for entrepreneurs are still major sellers. Some of them focus on calming our fears of speaking in public, which is expected often from business leaders - or journalists like me -and even people like our regular commentator Lucy Kellaway of the Financial Times.
Africa's Fastjet low cost airline has admitted it needs more money in order to keep operating. The annual retail bonanza Black Friday is getting underway worldwide. And Ivory Coast has secured a deal with the French oil giant Total for a major piece of energy infrastructure.
Major South Korean firms have been raided in a corruption probe. Flight website Skyscanner has been sold to a Chinese travel giant and a yellowing disease is threatening the global coconut supply.
Facebook is reportedly building a censorship tool for China. South Africa's unemployment rate has hit a 13 year high and a poem by Anne Frank goes on auction in Holland.
US president-elect Donald Trump has said he will repeal the TPP trade agreement. Shell is in court in London over oil spill claims in Nigeria. And South Africa has delayed nuclear plans.
Kenya says it will strongly defend a challenge to East Africa's proposed trade deal with the EU. The flat-sharing webste Airbnb says it will soon have tax agreements with the 700 cities that provide most of its income. And could Singapore be about to walk away from Formula One because of a row over money?
The German carmaker Volkswagen is cutting thirty-thousand jobs around the world to save money after the emissions scandal. The new boss of Malaysia airlines says turning the company around after the tragedies of 2014 is an unprecedented challenge. And Nigeria has reached a cut price deal over its debts to foreign oil companies.
Japan's Prime Minister Flies to New York to meet President Elect Trump
Hillary Clinton Gives her first public speech since electoral defeat
And a trade row looms between France and China... Over biscuits.
Photo by Kyodo News via Getty Images
The parent of social media application Snapchat may list shares in New York
An Indian tycoon is spending $74 million on his daughter's wedding
The BBC World Service is undergoing its largest expansion since the 1940s, adding 11 new languages.
Picture credit: Michael Nagle/Bloomberg via Getty Images
Russia's minister for economic development, Alexei Ulyukayev, has been charged by authorities for corruption. It's the first time a cabinet minister has been detained in Russia since the failed coup in 1991.
Kenya plans to drill 8 fresh oil wells as it explores for fresh crude deposits.
World leaders are meeting in Morocco to push ahead with the Paris agreement on climate change.
Photo by Vladimir Pesnya/Host Photo Agency/Ria Novosti via Getty Images.
South African President Jacob Zuma under pressure from his own party.
Corruption in Africa's largest economy threatens a further ratings downgrade.
And Kenya's Uber drivers sue the company for slashing fares.
Asian markets have recovered losses following the US election result. Africa's first female president has expressed her concern over a Donald Trump presidency and Indian banks have started issuing band new bank notes.
Donald Trump has won the US presidential election. European markets open lower on the news of a Trump victory. And banks in India are closed today following the announcement that the highest-denomination currency notes are being withdrawn.
America votes for its next president after a divisive campaign - we hear from businesses about their views on the candidates. Iran has signed a major gas deal with France's Total. And Mozambicans feel the pinch as the country's 'tuna bond' debt crisis deepens.
Saudi Arabia is refusing to sell oil to Egypt in a stand-off over regional politics. Also - academics are urging Tanzania not to sign a trade deal with the European Union, and Japan's leading advertising agency has been raided over a suicide reportedly linked to over-work. Plus Lucy Kellaway on the perils of small talk.
The Long March 5 lifted off from the Wenchang space centre in Hainan Province a few hours ago, carrying an experimental satellite.
The rocket gives China the capability to orbit the heaviest of payloads -- such as big telecoms spacecraft and sections of its future space station.
The Egyptian Central Bank has announced that its raising interest rates, and allowing the currency to float. Also, Facebook's profits have tripled, and Nigeria's Government is to get a six-hundred-million dollar loan to turn the economy around. Plus an update from our reporter in West Virginia where coal is a big factor in the US Presidential Race.
The South African President, Jacob #Zuma, has withdrawn a court application seeking to block the release of a report by an anti-corruption watchdog. Also, Nigeria's Government is appealing to rebels to halt their attacks on oil pipelines - and China's coal supplies are running low as temperatures plunge.
Saudi Arabia has a new finance minister for the first time in twenty years. Ibrahim al-Assaf was sacked in a royal decree issued by King Salman. Also, an explosion has closed a pipeline in Alabama which supplies the east coast of the US with a third of its petrol. And there have been nationwide protests in Morocco over the death of a fish-seller in a stand-off with police.
The social network Twitter is closing its video sharing service Vine. Twitter also announced plans to cut almost one in ten jobs worldwide. The company still isn't making a profit despite ten years of operations and more than three hundred million active users. Also - the private sector is being urged to take a greater role in rebuilding Rwanda after the genocide and East Africa's struggling Nakumatt supermarket chain is looking for an investor with deep pockets.
The Chairman of Kenya Airways has resigned after growing tensions between staff and management. Deutsche Bank has reported a profit for the last three months and Samsung reports a 30% loss in income following the discontinuation of its Note 7 smartphone.
South Africa's Finance minster presents mini budget to parliament - we get the latest from Johannesburg. Mozambique has approached international creditors, saying its debt is unsustainable and needs to be restructured. And Apple has reported a decline in revenue for the first time in 15 years.
A highly controversial third runway at British airport Heathrow has been approved. The bosses of the Asian retailer Lotte have made a public statement of remorse. And the Vice President of Equatorial Guinea is to go on trial over corruption charges.
American Politicians express concern at AT&T's plan to buy Time Warner
26 Men held by Somali pirates for nearly 5 years are freed
And France has started evacuating thousands of migrants from the camp near the port of Calais known as the Jungle
Photo: KENA BETANCUR/AFP/Getty Images
Donald Trump says he may not accept the result of the U.S. Presidential election.
Tanzania seizes two North Korean ships for carrying the country's flag without permission.
And Kenya's President pushes ahead with a controversial railway route.
China's economic growth is stabilizing, thanks to soaring property prices and easy credit.
Kenya's President blames government agencies and judges for his country's poor anti-corruption efforts.
And Emirates slashes services to Nigeria's capital Abuja.
The International Olympic Committee says it will work with Tokyo to reduce the overall cost of the 2020 Olympic Games.
Tanzania's Vice President says the country's new government is drowning in old debt, as it struggles to meet its spending commitments.
And the Middle East airline giant Emirates announces it may soon reduce services to Africa.
Farmers worldwide are entering a period of increasing uncertainty as climate change compromises food production in areas already sensitive to food insecurity, a new report from the UN Food and Agriculture Organization cautions.
@Softbank of Japan is teaming up with Saudi Arabia to create what would be the world's biggest ever private equity fund. The world's first commercial drone flights are getting underway in Rwanda. And @Nike has reportedly struck a one-point-one billion dollar deal to supply @ChelseaFC with football kits for fifteen years.
John Stumpf's departure from his 19 million dollar a year post follows a scandal in which @wellsfargo staff created 2 million new accounts without asking for permission from customers. Kenya Airlines says it will halt ticket sales unless pilots call off a planned strike. And a #Brexit row leaves some shelves bare at Britain's biggest supermarket @Tesco
Samsung has slashed its profit forecasts for the current period by a third because of its fire-prone phones. It scrapped its flagship #note7 model yesterday. Analysts are warning the affair could cost the company as much as 17 billion dollars. Also - speculation is growing that the #OPEC oil cartel's agreement to drive up oil prices is doomed to failure. And Kenya's tourism boss tells us why she's focussing her marketing efforts at home and in East Africa. #DestinationEastAfrica #MagicalKenya #TravelLocal
It follows continuing reports that battery problems are causing a few to catch fire -- including supposedly safe replacements that were sent out after the problem was originally identified.
The South Korean electronics firm #Samsung, says owners should switch all #Note7 handsets off and get a refund or a different phone.
Smartphone giant Samsung has reportedly stopped production of its Note 7 phone amid claims it can catch fire. Zambia pledges to the International Monetary Fund it will cut subsidies by $1 billion. Climate change experts meet in Rwanda in a bid to save the planet's ozone layer.
The pound dived on Asian markets this morning - falling 6 per cent in just 2 minutes. This sent the fourth most-traded currency on the planet to its lowest level in 31 years. Automated trading is thought to be to blame.
Shares in Samsung Electronics have hit a record high. The Nigerian government are selling presidential jets to pay off debts and world health leaders have met in Nairobi to discuss access to care.
Ethiopia has launched the first international electrified railway in Africa - we here from our reporter in Adis Ababa. South Africa's Finance Minister tells the BBC that the country's treasury is clear of corruption and reports say that the internet company Yahoo has secretly scanned millions of its users' email accounts.
There's been more unrest over tuition fees in South Africa, we get the latest from our reporter in Johannesburg. Zimbabwe's cash crisis deepens as bank impose a $50 daily cash withdrawal limit. And Google is expected to launch a new operating system.
Delegates at a UN wildlife conference have endorsed calls for the closure of all domestic ivory markets, plus the trial of a British businessman accused of trafficking nearly 100 kg of cocaine into Kenya and the American reality TV star Kim Kardashian has been robbed at gunpoint in Paris.
Shares in Deutsche Bank fall sharply again. A US hedge fund is fined almost half a billion dollars over bribery charges in Africa. And Zimbabwe's trade deficit grows, despite an import ban.
The 14 members of OPEC agrees to lower oil production later in the year. Kenya opens up businesses to foreign ownership. And German financial giant Commerzbank slashes thousands of jobs.
Standard Chartered admits U.S. prosecutors are examining potential government bribes in Indonesia. Tanzania's president fires two senior officials after accusations they stole money from the country's earthquake recovery fund. And in Kenya, a government report finds that hiring practices have meant several state institutions have become hotbeds for tribalism.
A former IMF chief economist has warned that a slowdown in China is the greatest threat to the world economy. In an interview with the BBC, Ken Rogoff said a "calamitous hard landing" for one of the main engines of global growth couldn't be ruled out. Also, former IMF Chief Economist and Spanish economy minister Rodrigo Rato is on trial accused of fraud and King Abdullah of Jordan is in Kenya, with talks likely to include the year-long ban on Kenyan's working as domestic helpers in his country.
The internet giant, #Yahoo, is facing pressure to explain why it appears to have taken two years to notice what's thought to have been the world's largest cyber attack with hackers stealing information from half a billion customer accounts. Why trade in illegal wildlife is worth around twenty-billion dollars a year, making it the fourth-largest criminal activity in the world. And six in ten young people in Tanzania say they aren't worried how people make their money as long as they don't end up in jail.
The founder of Facebook and his wife have pledged 3 billion dollars over a decade to fight disease. New investment has been agreed to help Ethiopia create jobs for refugees. And the US Fed has signalled there could be an interest rate rise in December
The United Nations is due to adopt a landmark declaration curbing the use of antibiotics. A tanker carrying Libya's first oil shipment in two years has left for Italy. The former president of Brazil, Lula da Silva, is to face trial on charges of money laundering and corruption.
A major financial watchdog says China's banking sector is under dangerous levels of stress.
A row between Kenya and Somalia over a potentially oil-rich maritime border reaches the world's highest court
And the UN calls for stronger leadership to solve the refugee crisis as it holds its first ever summit on the issue
Photo credit: Getty Images
Hello I'm Russell Padmore with this Business Update from the BBC....
The main headlines:
Shares in Deutsche Bank have tumbled after American authorities revealed plans to levy a record fine for misleading investors......
The IMF has urged Mozambique to allow international auditors to investigate controversial loans taken out by state owned companies......
And the head of West Africa's Asky Airline has called on the continent's carriers to cooperate against competition from airlines outside Africa.....
Deutsche Bank has described a 14 billion dollar fine put forward by the US Department of Justice as an "opening position" and says it has no intention of paying a fine of that much to settle claims of misleading investors over mortgage related investments. The German company says other banks have agreed to pay fines that are much lower. More from BBC Business Correspondent, Theo Leggett......
The president of Mozambique, Filipe Nyusi, has promised to co-operate with the International Monetary Fund on the terms of an international audit of the country's debt. The Mozambiquan leader has been on a charm offensive in the US trying to reassure international institutions and investors over a two billion dollar debt scandal, involving secret loans that emerged this year. The IMF and donor countries have suspended aid to the African nation, which is one of the world's poorest. Gerry Rice is a director with the IMF......
Asky Airlines has been flying in West Africa for just six years, but it's become the only profitable carrier in the region. Ethiopian Airlines, which makes more profit than all African carriers put together, holds a 25 percent stake in the company. Asky's chief executive, Henok Teferra, believes airlines across Africa should cooperate more closely to beat the tough competition they all face from international carriers.
The World's population is expected to grow by a third, or two point three billion people, by 2050, that's according to the UN. And nearly all of that growth is forecast to take place in developing countries, notably in sub-Saharan Africa. The experts forecast the region's population will grow 114 percent......so how are we going to feed the huge population in countries across Africa. One answer is better farming techniques and using more of Africa's arable land to grow crops......but are enough young Africans interested in becoming farmers? The huge numbers that are moving out of rural areas to cities shows that may not be the case, as these young people told the BBC in Nairobi......
While the world frets about poachers killing elephants or rhinos for their tusks other endangered species are being killed across Africa, illegally for food. The trade in bush meat is very active in Malawi as the BBC's Ed Butler has been finding out.......
The UK Government approves the construction of the controversial new Hinkley Point nuclear power station.
Moody's says it may downgrade the credit rating of five state-owned South African companies.
And Kenya struggles to get to grips with a spike in fake parking tickets.
Photo by Matt Cardy/Getty Images
The European Union plans to update its copyright laws
Kenyans get a new way to pay for their shopping
And Jean-Claude Junkers says the EU will be fine without Britain
Photo by Justin Sullivan/Getty Images
Brazil ejects from congress the man who led the impeachment of Dilma Rousseff.
Questions swirl regarding the payment of a political fine by South Africa's Jacob Zuma.
And Tanzania probes corruption in government relating to poachers.
Photo credit: EVARISTO SA/AFP/Getty Images
Also in today's Business Update, a new report backed by the US film star George Clooney has accused the leaders of South Sudan of profiteering during the country's devastating civil war and three people have been rescued after several days trapped in a South African gold mine. Jon Bithrey has the latest from London. (Image: Pedestrian walking past stockmarket board in Tokyo, AFP)
Asian stock markets fall after North Korea tests a nuclear device
Brazilian police say they want to speak to the President of the International Olympic Committee
And closer ties between East Africa and EU will be delayed until January
Photo credit should read ED JONES/AFP/Getty Images
Apple's iPhone 7 ditches traditional headphone socket. US media firm Liberty Media is buying Formula 1. And a Maldives newspaper has been raided after corruption claims against the country's president
Australia celebrates 25 years of economic growth. Somalia has imposed a ban on Kenyan khat imports. And London has been named the top city for business by financial services firm Pricewaterhouse Coopers.
South Africa's economy grew by 3.3% between April and June this year. Over 1500 miners have gone on strike in Johannesburg. And African leaders have gathered in Nairobi to discuss agriculture
Russell Padmore presents this Business Update from the BBC.
The main headlines:
Leaders at the G20 Summit in China have been considering how to deal with the slow rate of global economic growth.
Shares in the troubled shipping line Hanjin have plummeted more than 15%.
Retailers at one of East Africa's big shopping centres press the Kenyan government to remove traders from Somalia who're blocking the entrance.
A second day of talks at the G20 meeting in Hangzhou China has seen leaders of the world's richest countries discuss ways to boost global economic growth. Other issues under discussion include measures to combat the oversupply of raw materials like steel. The host nation China is using the summit to increase its influence in running the global economy and promote its new regional development bank, the A-II-B. In an exclusive interview, the bank's President, Jin Liqun, told the BBC China is ready to take the necessary actions to reduce barriers to free trade.
Shares in the ailing shipping giant Hanjin have been on a rollercoaster ride today, as investors reacted to the company filing for bankruptcy protection in South Korea and the US. Hanjin, which is one of the world's biggest sea freight firms, has sunk deep into debt, because of the worst downturn to hit container carriers in decades and its shares are down 80 percent over the last year. More than half of its fleet is stuck in port or unable to dock with hundreds of thousands of containers facing delayed delivery. Here's the BBC's Rico Hizon.
Retailers in Nairobi's business district have called on the Kenyan government to resolve the problem of street traders from Somalia blocking entrances to their shopping malls. Over the weekend there were running battles between anti-riot police and hawkers in the business district of Eastleigh in Nairobi. Hundreds of hawkers were removed from the area after retail owners complained the street traders were disrupting their businesses. Eastleigh is one of the biggest markets in east and central Africa and it is renowned for selling affordable electronic goods and clothes. Customers come from as far as Great Lake countries. Omar Hussein, the Secretary General of the local Business Community, told the BBC the mostly Somali hawkers do not contribute to the Kenyan economy.
The United Nations says more must be done to protect media freedom in Somalia, where thirty journalists have been killed in the past four years. The UN High Commission for Human Rights has reported that since the start of 2014, a hundred and twenty other journalists had been arbitrarily arrested and a number of media outlets have been closed. Journalists and politicians are killed by the Islamist group Al Shabab, political rivals and other groups opposed to their work. The UN special representative to Somalia, Michael Keating, said the government has to deal with these crimes seriously.
Now is the business world a place for young go getters, people who are high fliers and anyone over fifty is past it? .Our regular commentator, Lucy Kellaway of the Financial Times, has been looking around her office to find that she seems to be the oldest one in the room - she's fifty.
Samsung has suspended sales of a smartphone after batteries catch fire.
A SpaceX rocket explodes in tests, destroying a Facebook satellite.
And hundreds of container ships are stuck at sea after shipping firm Hanjin files for bankruptcy.
Photo by David McNew/Getty Images.
Apple chief Tim Cook has said the European Commission's tax ruling is 'maddening' . Uber have entered a deal to launch helicopter services in Kenya. English Premier League hits new spending record ahead of transfer deadline.
Nigeria's economy has slipped into recession. Facebook founder Mark Zuckerberg has visited Sub-Saharan Africa. And the first US-Cuba commercial fight is due to take off from Florida.
The European Commission says iPhone maker Apple should pay 13 billion euros in back taxes because of an illegal sweetheart deal with the Irish Government. The biggest ever foreign takeover of a European technology company is about to be signed off by investors. And why gorillas are worth more alive than dead in Rwanda. (Photo: Getty Images)
There's a warning trade talks between the European Union and the United States have "failed".
Japan has pledged to invest $30 billion across Africa over the next two years.
And -- new rules governing the use of drones come into force in the US.
(Photo: Reuters)
Bolivia's deputy interior minister has been beaten to death by striking miners. A security flaw has emerged in Apple's iPhone. Also Japan's Prime Minister Abe is in Nairobi for a conference on African development.
Picture: Riot policemen and miners clash in Panduro, La Paz. Credit: Aizar Raldes/AFP/Getty Images
The European Commission has denied claims from the United States that its investigations into corporate tax avoidance are unfairly focused on US multinationals.
The International Labour Organisation says youth unemployment is on the rise.
Kenya passes a law to limit interest payments on loans.
(Photo illustration by Peter Macdiarmid/Getty Images)
Mining giant Glencore reports a two thirds fall in profits.
South Africa's finance minister may face charges concerning an alleged rogue unit at the state tax revenue service.
Police in Burundi have arrested eight users of social network WhatsApp for alleged cyber crimes.
Photographer: Valerian Mazataud/Bloomberg via Getty Images
Four brands have pulled their sponsorship of US swimmer Ryan Lochte.
America's John Kerry begins a two day visit to discuss corruption with Nigeria's President.
And Johannesburg gets its first non-African-National-Congress mayor.
Photo by Chris McGrath/Getty Images.
Rio Olympics have drawn to a close with many questions about the legacy, we here from our reporter at the closing ceremony. Financial incentives have influenced over-prescription of drugs in Sub-Saharan Africa . And we go to Angola, where media outlets and social media users are facing tighter restrictions. Image: Rio Olympic stadium Credit: AFP
Australia has upheld its decision to block the sale of the country's biggest energy grid to two Chinese companies over security concerns.
The price of oil has jumped above $51 as it seems likely OPEC will freeze levels of production.
Plus a new venture has been launched allowing South Africans to invest in cattle online.
Picture: Power lines hang from an Ausgrid transmission tower in Sydney. Credit: Jeremy Piper/Bloomberg via Getty Images
Financial police in Turkey have carried out dozens of early morning raids across Istanbul as part of the widening investigation into those behind last month's coup attempt. Overnight wedding ceremonies have been banned in Kenya's Coastal City of Mombasa for security reasons. Mombasa's County Commissioner Maalim Mohammed says the move is meant to protect locals against armed gangs who have been attacking and robbing people.
One of Liberia's richest business men and presidential hopeful Benonah Ureh is in trouble with the tax authorities. His media portfolio which includes a radio and television station has been shut down on a court order for allegedly failing to pay $50,000 in tax arrears. And 100 years of Roald Dahl - we find out why he's still selling books decades after his death.
Myanmar’s leader, Aung San Suu Kyi, will begin a four-day trip to China on Wednesday, where her diplomatic skills will be tested during talks on the fate of a contentious Chinese-backed dam project. Our reporter Robin Brant brings us the latest. his year Southern Africa has been affected by a prolonged drought, which has affected the economies of a number of countries in the region. Namibia is hosting The African Drought Conference in the country's capital Windhoek this week - we find out what's on the agenda. And car makers Ford promise to have self-driving cars on the road by 2021.
Mining giant BHP posts a record loss - it comes after the company had reported a $1.9bn profit previously. Our economics correspondent Andrew Walker explains how a slump in commodity prices is to blame.
It's been four years since the Marikana massacre in South Africa. We hear how living conditions in the area around the mine where workers were killed have not improved.
And Indonesian airlines get the green light to fly to the US after nearly a decade ban.
(Photo credit: BHP)
Russell Padmore presents Business Update from the BBC.
The main headlines.....
Economic growth in Japan has ground to a halt.
As Zambia's president gets closer to returning to office, attention has turned to efforts to revive the country's troubled economy.
And more than a million refugees who have fled South Sudan place a strain on the resources of neighbouring nations.
Efforts by the Japanese government to breathe life into the country's stagnant economy have so-far failed to stimulate growth. The world's third-largest economy expanded by an annualised 0.2 percent in the second quarter; less than expected amid signs of a sharp slowdown. Two decades of deflation have crippled the Japanese economy and the initial boost from prime minister Shinzo Abe's stimulus programmes, dubbed "Abenomics", is quickly fading. Marcel Thieliant follows developments in Japan for Capital Economics.
Results from Zambia's election are close to completion with President Edgar Lungu, seemingly destined to return to office. Mister Lungu will take the reins of power in a country where economy is being held back by its heavy reliance on copper mining and farming. Mining companies have cut thousands of jobs reacting to falling prices for commodities amid slack demand and farmers are struggling to cope with drought. Ronak Gopaldas, head of country risk at Rand Merchant Bank, told the BBC that Zambia must diversify its economy.
The United Nations is readying an extra four thousand troops to keep peace in South Sudan, despite reservations from President Salva Kiir. Adrian Edwards from the UNHCR says renewed conflict has forced tens of thousands of refugees to flee to neighbouring nations like Kenya and Uganda.
More than a million refugees have been forced to leave South Sudan to live in other countries in East Africa, such as Kenya where concerns have been raised that the influx of so many people could drain the country's resources. These people in Nairobi gave the BBC mixed views about the arrival of so many people from South Sudan.
The best engineers and designers have a knack for creating gadgets and technologies that we didn't even know we needed. Remember for example how the palm personal organiser replaced the filofax or old-fashioned diary?.... But what really gets Lucy Kellaway from the Financial Times going is the next big thing......It's called the internet of things - where everyday objects have network connectivity, allowing them to send and receive data.
McDonald's are facing calls to stop serving meat from animals that have been treated with antibiotics.
Unions in South Africa reach a deal to end an illegal strike which could have resulted in blackouts.
Global business groups claim new Cyber security rules in China could harm trade and isolate the country.
Plus we hear from the World's second biggest plastic polluter, Indonesia. Waterways clogged with waste are threatening the country's fishing and tourism industries,
Picture: McDonald's cheeseburger and fries. Credit: Justin Sullivan/Getty Images.
Australia has rejected a Chinese bid to buy an electricity network on national security grounds. Kenya and China have held high level economic talks in Nairobi. And demand for gold continues to increase as investors seek a safe haven. (Picture credit: DDP)
Facebook has announced moves to counter ad-blocking software on PCs. A new report looks into the jobs that will exist a decade from now. Hollywood bombards movie-goers with a deluge of sequels. And the International Monetary Fund says Italy won't return to pre-crisis levels until around 2025 - meaning the country will have suffered two decades of lost growth.
(Picture credit: Reuters)
China has warned the UK against abandoning a huge nuclear project, which it's partially funding. MPs in Kenya are concerned over the country's growing gambling industry. And 50 US security officials have claimed Donald Trump would be the most reckless president in history.
(Picture: A computer impression of the Hinkley Point C nuclear plant in Somerset, England. Credit: AFP)
The aviation giant Airbus is being investigated over allegations of fraud. Gold has reached a two-year high as investors seek a safe place to store their wealth. And loud music in public transport has been blamed for a rise in hearing problems in Kenya.
(Picture: An Airbus A380. Credit: Airbus)
The Bank of England has cut interest rates for the first time since 2009.
Nike has said it's pulling out of the market for golf equipment.
And Uganda's Mps are proposing to end the payment of rent in US dollars.
Photo by Peter Macdiarmid/ Getty Images.
Mining giant Rio Tinto has said market conditions remain tough for commodities producers.
14 Chinese construction workers have been attacked in Kenya by locals amid growing tensions over jobs.
And the Canadian city of Vancouver has introduced a 15% tax on foreigners buying homes.
Photo: PHILIPPE LOPEZ/AFP/Getty Images
Development From People to People - a charity that has been paid millions by international donors for its work in Africa - is under the control of a cult-like organisation called the Teachers Group, an investigation by the BBC and US partners has revealed. The group's senior leaders are wanted by Interpol for fraud and tax evasion.
The British Government postpones a final decision on building a controversial nuclear plant.
A scheme for Uganda to bail out financially troubled companies provokes claims of political cronyism.
And the beer and spirits maker Diageo warns Nigeria's economic crisis is hurting its business.
The British Government's unexpected decision to postpone a green light to build the first new UK nuclear plant in 20 years has led to claims it will cause chaos. Yesterday the French company EDF decided it would go ahead and build the nuclear electricity generating plant at Hinckley, a joint project with Chinese investors. The 24 billion dollar plan has provoked criticism in the UK, over the guaranteed power price offered by the British Government and in France there are fears the project could bankrupt EDF, which is already deep in debt. Doctor Paul Dorfman is an energy expert at University College London.
There is outrage in Uganda over a plan to bail out dozens of companies at a cost of $400 million. Many have accumulated debt because they have not been paid for trade in South Sudan or for services they have provided to government departments in Kampala. President Yoweri Museveni claims it is important to support businesses, which contribute to the economy, but opponents claim it is a handout for political friends. Isingoma Amooti, the owner of the mining company Krone Uganda, wants seven hundred thousand dollars. He told the BBC there is nothing wrong with the bailout scheme.
The beer and spirits giant Diageo says demand for its products in Africa remains healthy. The maker of brands like Johnnie Walker whisky and Guinness beer posted a rise in sales for the last year of nearly three percent, but admitted its global business was hit by currency fluctuations. Diageo's Chief Executive, Ivan Menezes, told the BBC Nigeria's economic crisis is a challenge for its operations.
South Africa's finance minister, Pravin Gordhan, has warned the outlook for the country's economy remains bleak and he has sounded a warning about state-owned companies. Matthew Davies is the editor of the BBC's Africa Business Report in Johannesburg.
Later today long-awaited results of the latest so-called stress tests of banks in the European Union will be published. Among those which are giving greatest cause for concern are financial institutions in Italy, notably the world's oldest bank, Monte dei Paschi de Siena, one of Italy's biggest. Strenuous efforts are under way to devise a rescue plan for the business, which is owed huge sums that may never be repaid by its customers. The government is keen not to use public money to bail out the troubled lender, because that could cost thousands of ordinary savers a great deal of money - and trigger a political storm. From Italy, here's BBC Business Reporter Theo Leggett.
The Turkish authorities have ordered the closure of nearly a hundred and thirty media organisations. Facebook has announced a surge in profits. And researchers say sitting down at work is costing the world billions of dollars a year.
India has passed a controversial new child labour law. Sales in Apples flagship product - the iphone - have continued to fall. And four journalists in South Africa have been given their jobs back after being fired for criticising one of the state broadcaster's policies.
Mozambique is expected to announce a gas deal that could transform the country's economic fortunes. Nigeria's getting a new Chinese funded railway from the capital to the north of the country. Britain's Royal Mint has unveiled it's best revenues in more than a thousand years.
Mps in Britain have blamed Sir Philip Green - one of the kings of the British high street - for the collapse of a major chain and branded him "the unacceptable face of capitalism". Kenya's competition regulators are to get new powers to stop trade bodies dividing the country up into a patchwork of small monopolies. And how about a solar powered electric car for less than ten thousand dollars?
Data suggests the UK economy has suffered after the Brexit vote.
Nigeria's finance minister says there's no need to "panic" as the country slides into recession.
And many of Tanzania's public servants fear they may not be paid this month.
(Image: Empty cafe. Credit: Getty Images)
Fraud investigators have seized assets worth almost two hundred million dollars - allegedly connected to a Malaysian investment fund.
For the first time, electric cars take to the roads of Kenya.
And many Indians get the day off from work - because of a new film release.
(Image: Malaysia's PM Najib Razak. Credit: AFT/ Getty Images)
Donald Trump has won the Republican nomination for the next US presidential election.
A former UBS trader based in the UK has lost his appeal against being deported.
And Rwanda pushes ahead with plans for a paperless currency.
Photo by Alex Wong/Getty Images.
The European Union tells Turkey it will be barred from joining if it brings back the death penalty.
Tanzania's President stands firm on the introduction of VAT for the tourism industry.
United Nations Conference on Trade and Development meet in Nairobi.
Photo: Chris McGrath/ Getty Images
Turkey's economy is shaken following last week's attempted coup. Nigeria's inflation has hit its highest level in a decade. And one of Britain's biggest technology firms faces a Japanese takeover.
China's economy remains stable, but growth is still at the slowest pace since the global financial crisis. A credit crunch in sub-Saharan Africa is deepening the economic downturn. Uganda may join Tanzania in delaying an EU trade deal. Also we hear from Chile, where the global slump in copper prices is affecting the 27,000 workers in small privately-owned mines. (Picture: Shanghai financial district Credit: Johannes Eisele/AFP/Getty Images)
The UK's new finance minister says the economy has been impacted by the referendum to leave the EU.
A Chinese businessman in the United States has been sentenced to four years in jail for espionage
And there are calls for further strikes in Zimbabwe.
Photo by Christopher Furlong/Getty Images.
China has said it has the right to set up an air defence zone over the disputed South China Sea islands. A report shows people are taking seven years longer to save for retirement. And South Africa's Steinhoff buys the UK's Poundland for more than $700m.
Photo by Dondi Tawatao/Getty Images
India's Prime Minister, Narendra Modi is in Kenya for talks on a trade deal. The US aircraft maker, Boeing is hoping to celebrate 100 years in business with some big new deals, and Britain's finance minister is in New York to re-assure international investers over Brexit.
There's evidence Britain's decision to leave the European Union is already affecting businesses and consumers.
The IMF warns South Africa's economy will barely grow this year.
And Kenya's largest mobile phone network is launching a women-only online taxi service.
(Photo credit: Getty Images)
Kenya's Nation Media Group has said it is closing down most of its broadcast division. A bank in Singapore is suspending loans for London properties. And President Obama has warned the global economy could suffer if Britain leaves the EU.
There's a warning that the City of London may lose jobs after the UK leaves the EU. Problems have been highlighted in Kenya's jobs market. And a massive Botswana diamond is to be auctioned in London.
European politicians call for Britain to quickly start the process of leaving the EU. Plus a summit to improve work opportunities for young people in Kenya begins today and there's been a huge discovery of helium in Tanzania.
Jon Bithrey has the latest from the BBC business unit in London.
(Image: Nigel Farage and Jean Claude Juncker at European Parliament, Getty)
This is Business Update from the BBC.
The UK has voted to leave the European Union
Markets around the world have fallen on the news.
How will this affect the Uk's trade relations with Africa?
I'm Lucy Burton at the BBC's business unit in London.
Fresh strikes in France over labour reforms. West Africa gas pipeline cuts supply to Ghana over unpaid bills. Solar Impulse completes Atlantic crossing
India has relaxed its foreign ownership laws, European markets have risen as investors shrug off concerns over a British exit from the EU, and Nigeria's currency has fallen sharply after the fixed exchange rate was scrapped.
(Photo: Indian Prime Minister Narendra Modi shakes hands with members of US Congress in June 2016. Credit: Chip Somodevilla/Getty Images)
The international aid agency, Médecins Sans Frontières (MSF), has announced it will no longer accept funds from the European Union and its member states. The charity's decision, which it says will take effect immediately, is a response to what it calls the EU's damaging policies aimed at deterring migrants from trying to reach Europe.
Brexit has played into the decision of the US Federal reserve to hold interest rates. Nigeria has said it will allow its currency to float freely. And a prestigious prize for leadership in Africa has announced no winner.
The British Chancellor has issued a new warning over Brexit. As South African company has said it wishes to buy the UK retailer Poundland. And a government jobs website in Nigeria has crashed after it attracted thousands of applicants.
United Airline and Iberia halt flights to Nigeria. Billionaire philanthropist, Bill Gates launches chicken plan to help Africa's poor. And Britain strengthens economic ties with Angola.
New research suggests that enthusiasm for the EU is in sharp decline throughout Europe. Latest figures indicate South Africa's economy is shrinking. And Kenya unveils its annual budget.
The US warns China over its difficult business climate. Oil company, Shell is to sell off large chunks of its business. And platinum miners go on strike in South Africa over safety concerns
South Africa's sovereign debt could be downgraded to junk status later. The ratings agency Standard and Poor's is due to make its position on South Africa known after trading closes on Friday.
In Angola there is controversy over the new boss of the country's oil company Sonangol. Why? Because she is the daughter of President Jose Eduardo dos Santos who recently sacked the entire board of the company.
Turkey's President Erdogan is in East Africa this week on a series of official state visits. Yesterday Mr Erdogan was in Kenya leading a delegation of Turkish business people keen to improve trade links.
Plus Jon Bithrey reports from a Favela in Rio to find out about some of the alternative power sources the city's poorest are using.
Ministers from the Opec group of oil producing nations meet in Vienna.
Ride-sharing company Uber receives a record investment from Saudi Arabia's public fund.
And Kenya's government warns its people aren't saving enough for retirement.
Picture Credit: Akos Stiller/Bloomberg via Getty Images.
Global investment in renewable energy is increasing at its fastest ever rate. The world's longest and deepest railway tunnel is being officially opened in the Swiss Alps. And a game reserve in Tanzania could lose its remaining elephants in the next six years if poaching continues at its current rate.
A new report claims nearly 46 million people around the world are living as slaves. A controversial dam project in the Democratic Republic of Congo has been fast-tracked. And the footballer Lionel Messi is going on trial charged with tax evasion and fraud
French police removed picketers and barricades blocking access to a big fuel distribution depot today, as President Francois Hollande insisted the country's economy was starting to pick up and recovery should not be derailed by opponents of a reform designed to make hiring and firing easier. Hundreds of thousands of people have taken to the streets in recent months in protests that have often turned violent and the focus on blockading refineries has caused fuel shortages. Virginie Maisonneuve is the managing director of MGA.
The African Development Bank has made providing more electricity in Africa one of its priority projects, but critics of the bank claim its lending strategy means other important, but smaller infrastructure projects are missing out. The president of the African Development Bank, Akinwunmi Adesina, denies claims it's too focused on multi-billion dollar projects, because it provides loans to many businesses across the continent.
The Canadian gold mining company Kinross has told the BBC it does not plan to axe jobs at its operation in Mauritania. Workers are on strike at the Tasiast Mine, protesting over planned cuts to wages and certain benefits. Here's BBC Business Reporter Philip Hampsheir.
A British court has agreed to hear a legal claim against the mining giant Vedanta Resources and its subsidiary Konkola Copper Mines on behalf of nearly two thousand villagers in Zambia. The court will consider claims for compensation for alleged environmental pollution by the copper mining operation in Zambia. Vedanta had contested the case saying the English courts should not have jurisdiction over the legal action and lawyers argued that it should be tried in Zambia, because the claimants are Zambian and the damage occurred in their country.
Uganda is concerned that Rwanda's support for a rail line to connect the region with ports in Tanzania, instead of Kenya, could damage its economy. The East African Community has agreed to build a major railway line to connect its ports with markets in the region and also an oil pipeline. But Tanzania has decided to build its own oil pipeline and now its going its own way with a rail line project, which could leave Uganda isolated and unable to benefit from a major part of the region's infrastructure. Nebert Rugadya is an economic commentator in Kampala.
Most countries in the world have yet to pass laws to protect and promote breastfeeding, especially for working mothers. That's the verdict of a recent report from the World Health Organisation. It recommends that infants should have breast milk for the first six months of their lives, and then in conjunction with other baby foods until their second birthday. Kenya has passed legislation on the issue, with a law compelling employers to provide breastfeeding facilities at work. But not everybody thinks it's a good idea, as the BBC Africa's health correspondent, Anne Soy, reports.
Oil has risen above fifty dollar a barrel for the first time this year. Confusion reigns in Nigeria after the central bank's decision to end the country's currency peg. And France's strike over labour reforms has extended to nuclear power.
Eritrea is celebrating 25 years of indpendence. The UK has approved its first fracking project in five years. And Mozambique has missed an important debt payment.
Hello I'm Russell Padmore with this Business Update from the BBC.
The main headlines:
The French insurance group Axa has unveiled plans to sell all of its investments in the tobacco industry.
$19 million has been stolen from South Africa's Standard Bank, using cash machines in Japan.
And the African Development Bank has forecast the continent's economy will grow three point seven percent this year.
The authorities in Japan are hunting for criminals who stole millions from cash machines across the country, in a robbery that took a few hours, using fake credit cards from South Africa's Standard Bank. It's reported up to a hundred people raided ATMs at more than a thousand Japanese convenience stores, which cost the African financial group $19 million. From Johannesburg, where Standard Bank is based, here's the BBC's Matthew Davies.
The African Development Bank predicts the continent's economy will shrug off the slump in commodity prices to achieve economic growth of three point seven percent this year. The AFDB is holding its annual meeting in Zambia this week, where it will emphasise its plan to transform Africa's economies, by expanding activities other than farming and oil. But attracting new investment for medium sized projects is a challenge, when bodies like the African Development Bank are so focussed on bigger multi billion dollar projects. That's according to Doctor Amy Jadesimi, the managing director of the transport and hotels group LADOL, in Nigeria.
Countries in East Africa are making moves to ease restrictions on visas for travel within the region, perhaps leading the way for the rest of the continent. Economists claim the removal of travel restrictions across borders could boost economic growth and that has prompted calls for the abolishment of visa requirements. The BBC's Michael Kaloki reports from Nairobi.
As Africa industrialises one thing it will need is management skills - including people management skills. Managers need to motivate their staff, and there are plenty of pitfalls awaiting the unwary boss, mistakes that can just earn the scorn of the people they are aimed at. Lucy Kellaway of the Financial Times often draws our attention to the poor attitude of bosses and this time she has found a senior figure at the heart of the financial world, who she thinks did get something right - but not much.
Axa will sell two billion dollars worth of investments in the tobacco sector, citing the impact of smoking on public health. The insurance giant is divesting itself of assets connected to tobacco to support the efforts of governments around the world to improve the health of their citizens. Axa's incoming Chief Executive, Thomas Buberl, gave an exclusive interview to the BBC to explain the company's new strategy.....
Hello I'm Russell Padmore with this Business Update from the BBC.
The main headlines today.
The crash of an Egyptair jet blocks any short term recovery of the tourism industry in Egypt.
The United States fears instability in Burundi will undermine economic growth in East Africa.
And cement makers in Zimbabwe call for taxes on imports of the product.
The discovery of personal belongings of passengers travelling on the lost EgyptAir jet has confirmed the tragedy of the plane crashing into the Mediterranean Sea, with 66 people on board. As the authorities search for the black box recorders, Egypt is coming to terms with the tragic loss having a long term impact on its economy, though the collapse of tourism. Last year after a Russian airliner was lost over the Sinai Peninsula arrivals of holidaymakers in Egypt fell by more than 50 percent. Tourism expert Alan Bowen, from AGB Associates, told the BBC it's a major economic setback for the country.
The East African Community plans to mediate talks this weekend aimed ending a year long cycle of violence in Burundi. The country has been in a crisis since President Pierre Nkurunziza controversially ran for a third term in office and won the election last July. At least 500 people have been killed and more than a quarter of a million have fled to neighbouring nations amid fears of new civil war. The US special envoy for the Great Lakes Region of Africa, Thomas Perriello, told the BBC that the crisis in Burundi threatens to damage economies in East Africa.
Cement producers in Zimabawe are calling on the government to levy tariffs on imports of the product. The cement makers want the government to protect the industry with an import tax of 50 dollars a tonne, saying it's needed to prevent the collapse of their industry. More from BBC Business Reporter Audrey Tinline.
A gold rush is underway in Ghana. But this is not a frenzied dig looking for new seam of the precious metal. This is for existing industrial mine-sites. No fewer than three Ghanaian mines have been invaded in recent weeks, and some fear the rise of illegal small-scale mining in the country could pose a risk to Ghana's wider economic security. Ed Butler reports from the town of Obuasi.
Chemicals giant Monsanto has received a takeover offer from Germany's Bayer.
Uganda is concerned climate change will lead it to lose indigenous crops such as aramanth.
And the King of Swaziland's plane has been impounded in Canada for a second time over a debt dispute.
Daniel Acker/Bloomberg via Getty Images
The United States imposes import tariffs on Asian steel makers.
A General Strike gets underway in Nigeria.
Japan's Suzuki apologises for discrepancies in the way it's been testing vehicles for fuel efficiency and emissions.
(Photo by Kevin Frayer/Getty Images)
A gigantic gold vault in London has been bought by a Chinese bank, Nigerian oil production falls by 40 percent as efforts continue to avert a labour strike, and Kenya cracks down on tax evasion - seizing dozens of luxury cars.
(Photo credit: Paul J Richards/AFP/Getty Images)
Hello I'm Russell Padmore with this Business Update from the BBC. The main headlines.
Last minute talks in Nigeria as the authorities hope to avoid a general strike.
Norway will sue Volkswagen over the emissions cheating scandal.
And traffic jams undermine economic growth in East Africa.
Trade unions in Nigeria have warned the country will be crippled by a national strike from Wednesday, if the government does not reverse a plan to raise the price of fuel, by as much as 67 percent. The government intends to scrap a costly fuel subsidy scheme because of a huge hole in its budget, caused by the big fall in the price of oil over the last year. The West African nation is mired in its worst economic crisis for decades as declining oil revenues have hit public finances and caused a shortage of foreign currency needed to pay for imports of refined fuel. Onyekachi Ukomadu, a businessman in Lagos, says Nigerians rely on fuel to generate electricity, as well as run vehicles.
The automotive giant Volkswagen faces a huge claim for compensation over cheating emissions tests from Norway's national investment fund. The world's biggest sovereign investment fund owns a stake worth about 750 million dollars in VW. More from BBC Business Reporter Audrey Tinline.
Business leaders fear the worsening traffic jams in Dar es Salaam and Nairobi are becoming a major drag on the economies of two of East Africa's major hubs. Kenya and Tanzania have tried to alleviate the delays caused by traffic clogged streets with better public transport services. But as the BBC's Michael Kolike reports from Nairobi, not everybody is pleased with changes to the bus system.
The cancellation of an English Premier League football match yesterday following the discovery of a dummy bomb used for a security exercise could cost Manchester United about five million dollars. An inquiry has been demanded after the make believe bomb caused the Police to evacuate Old Trafford stadium just before the kick off between Manchester United and Bournemouth. Malcolm Tarbitt executive director of the International Centre for Sport Security told the BBC big sports stadiums pose a particular challenge, although that wouldn't be much comfort to fans who missed the match.
Many people can claim to have worked with bosses who are widely seen as not very good at their job, the kind of manager who pretends to be interested in encouraging employees, but then within hours shows no positive interest at all in motivating staff. Maybe it would be better if he or she adopted the same policy, but then again when things are predictable work can be boring. But according to our regular contributor Lucy Kellaway, from the Financial Times, when it comes leadership in business, boring is good.
South African gold miners can proceed with the country's largest ever class action law suit
Apple shares slip to a two year low
The World Economic Forum on Africa ends in Rwanda
Waldo Swiegers/Bloomberg via Getty Images
The Anti-Corruption summit is underway in London - Nigeria's President Muhammad Buhari says he wants the UK to repatriate stolen money. There are new proposals announced on Thursday to radically change the way the BBC is governed. And anger in Nigeria over the withdrawal of a fuel subsidy.
Brazil's Dilma Rousseff attempts to head off her impeachment at the supreme court
The Chief Executive of oil giant Saudi Aramco says they will raise production
And Nigeria's President demands stolen fund are repatriated from London
(Photo by Mario Tama/Getty Images)
A group of three hundred prominent economists have written to world leaders - urging them to put an end to tax havens. The economists claim tax havens serve no useful economic purpose - and only serve to increase inequality.
They also claim that it's poorer countries that are hit hardest by aggressive tax avoidance - losing out on $170bn a year
The letter - which was organised by Oxfam - comes ahead of a major anti-corruption summit in London on Thursday.
The first full congress of North Korea's ruling Workers' Party for thirty-six years is being held Pyongyang.
Mozambique's President Speaks to the BBC about the country's economic crisis.
And Zimbabwe's cash shortage leads to long queues outside banks.
(Photo by Linda Davidson / The Washington Post via Getty Images)
A new report says the Gulf of Guinea, off the West African coast, has become the most dangerous region in the world for seafarers because of an increase in pirate attacks and the level of violence used. Sub-Saharan African economies will grow at its slowest pace in 15 years according to the International Monetary Fund. And both the Somali government and the Islamist armed group Al-Shabab are using abusive tactics to sway media coverage say Human Rights Watch in a report released today on World Press Freedom Day.
Image Credit: AFP
Norway's sovereign wealth fund will begin challenging levels of executive pay.
Puerto Rico may default on government debt today.
And the mystery of who invented the bitcoin has been solved.
Photo by Tolga Akmen/Anadolu Agency/Getty Images
Hello I'm Russell Padmore with this Business Update from the BBC where the main headlines are:
Nigeria's finance minister admits corruption is still a huge problem.
African leaders meet in Kenya to discuss ways to stop ivory poaching and save elephants from extinction.
And shareholders continue to vote against big pay rises for bosses of global companies.
Nigeria continues to resist pressure to devalue its naira currency, despite the fears of foreign investors that the country's economic crisis will worsen. The big drop in oil prices has left the Nigerian Government with a huge hole in its budget. President Muhammadu Buhari is resisting pressure to seek financial aid from the IMF and a recent deal for loans from China will help fund his ambitious plans to invest heavily in new infrastructure such as power stations. Nigeria's finance minister, Kemi Adeosun, told the BBC the value of the naira is a distraction from the bigger problem of corruption.
African leaders are meeting today in Kenya to consider how to combat the illegal trade in ivory and rhino horns. The Kenyan president, Uhuru Kenyatta, says elephant herds across Africa are being besieged by a new generation of poachers, who are well-armed and connected to international markets. Max Graham is the founder of the conservation group Space for Giants.
The boards of multi-national companies are under increasing pressure to stop increasing the pay of chief executives when the business has been failing to perform. Earlier this month, BP shareholders rebelled over a big pay rise for the chief executive, voting against an award of of about 30 million dollars, despite record losses at the oil giant. Last week 40 percent of shareholders in the mining giant Anglo American voted against a five million dollar payout for CEO Mark Cutifani....Anglo is the worst performer in the UK one hundred stock index. Today Pascal Soriot, the boss of the global drugs maker AstraZeneca, is in the firing line as shareholders mount a rebellion over a 17 million dollar payout. Peter Parry, oversees policy at the UK Shareholders Association.
The High Court in South Africa has ruled that a decision in 2009 to drop corruption charges against President Jacob Zuma was irrational and should be reviewed. The nearly eight-hundred charges relate to a multi-billion dollar arms deal. The National Prosecuting Authority, which will have to decide whether to re-open the case, says it needs time to study the judgement.
Now to the business of football and an achievement that could prove an astonishing triumph. At the start of this season, the English Premier League club Leicester City was tipped for relegation and the subsequent loss of millions to its business. The odds on Leicester winning the English title were five thousand to one.....however now the team's players just need one win from their last three games to be confirmed as champions. Don't forget that this team consists of players unwanted elsewhere, led by an Italian manager, Claudio Ranieri, who in his last job with Greece lost to the Faroe Islands........From Leicester here's the BBC's Alex Capstick.
Facebook has reported it made a $1.5 billion dollar profit for the period between January and March of this year. The UK suspends aid to Mozambique over undisclosed debts. And America's love affair with diamonds looks to be stronger than ever. (Picture credit: Getty Images)
The US technology giant Apple has seen its first fall in quarterly revenue since 2003. Apple's sales dipped by more than a quarter in China, its most important market after the United States.
Kenya's Chase Bank has reopened its branches today, three weeks after they were shut down following a cash crisis.
And our Africa Correspondent Alastair Leithead has been tracking the illegal ivory trade from Kenya to Asia.
(Picture credit: Getty Images)
The Japanese car firm has admitted cheating fuel tests since 1991. Also the British oil giant BP posts a $485m loss for the first quarter of 2016 as it struggles with low oil prices. And why mortgages in Kenya are so hard to come by. Audrey Tinline has the latest from the BBC's business unit in London.
After long negotiations, Uganda has settled on a route for the construction of a $4 billion pipeline project, taking the country's oil to Tanzania's port of Tanga. Uganda had originally signed a deal with Kenya, but changed tack in light of security concerns. And South Africa rebuilds its trade links with Iran as President Zuma visits Tehran
I'm Russell Padmore with this Business Update from the BBC.
The headlines: President Barack Obama has urged the not to leave the European Union.
One of the founders of Apple has told the BBC the company should pay more tax.
The UN says rich people in Africa are responsible for much of the global movement of money to offshore tax havens.
And Nelson Mandela's widow has urged listed companies in Africa to employ more female directors.
Barack Obama has arrived in the UK and stirred up a storm by intervening in the debate over the UK's future membership of the European Union. The US leader claimed the country has benefited from membership in terms of jobs, trade and growth and he highlighted the planned Transatlantic Trade and Investment Partnership deal. James Rubin is a former US Assistant Secretary of State.
Campaigners urging people to vote for a British exit have accused Mister Obama of promoting what is best for the United States and not the UK. The Mayor of London, Boris Johnson, says Mister Obama is hypocritical.
One of the founders of Apple, Steve Wozniak, has told the BBC the technology giant should pay more tax. Apple has been using Ireland as a base outside the United States because the country has lower rates of corporation tax than many other nations.
The fallout from the Panama Papers has put the spotlight on Africa as the source of much of the funds that are deposited in offshore tax havens. The leak of eleven million documents revealed at least 17 African countries have prominent figures with offshore accounts. Nations that include Angola, Democratic Republic of Congo, Ghana, Kenya and Nigeria. The revelations are no surprise to Carlos Lopes, the Secretary of the United Nations Economic Commission for Africa.
Graca Machel has been a lifelong campaigner for women and children's rights. She has used her roles in politics and business to speak against some of the injustices that women have faced, from war zones to boardrooms. Graca Machel is also the widow of Africa's great statesman Nelson Mandela, and she says gender equality is an important part of the legacy he has left behind.
Music fans are mourning the loss of one of the record industry's popular singers and songwriters, Prince. We still do not know what caused the death of Prince who passed away at the age of 57. Mick Jagger said his talents were limitless and Annie Lennox called him a genius, a virtuoso. Fans have been gathering at his home in Minneapolis, to pay their respects and the BBC's Aleem Maqbool is with them.
Japanese authorities raid the offices of Mitsubishi Motors.
South Africa's President says a report into a major arms deal reveals no evidence of corruption.
And shareholders protest the size of executive pay at mining giant Anglo American.
Photo Credit: Junko Kimura-Matsumoto/Bloomberg via Getty Images
US President Barack Obama visits Saudi Arabia.
Computer chip maker Intel says it will cut its workforce by 11%.
The International Monetary Fund has suspended funding to Mozambique.
(Photo by Win McNamee/Getty Images)
Argentina returns to the international financial system, raising $15 billion from bond sales.
The horn of Africa is experiencing one of the worst droughts in living memory.
And a Maasai leader from Tanzania wins one of the world's most prestigious environmental awards.
Picture Credit: Diego Levy/Bloomberg via Getty Images
Oil prices fall as OPEC countries fail to agree a deal to cut production. 18 oil-exporting nations, including OPEC members, had gathered in Doha, the capital of Qatar, over the weekend. But Iran refused to attend - and Saudi Arabia won't sign up to any deal that doesn't include Tehran.
China's economic growth has slowed to 6.7%. Europe's five largest economies have reached a deal on sharing tax information. And Australian scientists discover a new way to prevent malaria drug resistance.
Photo by Zhang Peng/LightRocket via Getty Images
BP boss faces revolt over $20m pay. Whistleblowers fear new European law and Zambian villagers take Vedanta Resources to the UK high court.
EU regulators demand greater tax transparency from multinational. Brazil's congressional committee votes in favour of impeaching Dilma Rousseff. And Nigeria's President, Mohammed Buhari visits China.
(Image Credit: Getty)
World Bank's climate change plans, another Kenyan bank in trouble and Uber hit with $10m fine.
Panama sets up commission to improve transparency. Leaked documents suggest the Panamanian law firm suggested ways of reducing a tax bill in Uganda. And Angola asks the IMF for financial assistance
Several high profile Africans named in Panama Papers leak. India cuts interest rates to its lowest level in five years. And Steel tycoon Sanjeev Gupta says Tata jobs can be saved
Leaked documents have exposed money laundering and tax evasion among members of the global elite. Nigeria's oil minister has apologised for fuel shortages. Ethiopia has agreed to use Somaliland's port.
The drugs manufacturer, GlaxoSmithKline, has announced it won't file patents for its products in the world's poorest countries.
The International Monetary Fund has revised down its growth estimates for Nigeria, saying the country faces 'substantial challenges' from the global oil slump.
And we take a look at the world's busiest international airport in Dubai.
(Picture: GSK building. Credit: Reuters)
South Africa's highest court rules Zuma 'breached' constitution. Argentina lawmakers win approval for debt deal. And Angola's government is hit by another cyber attack.
India's Tata to decide on the future of major UK steel plant. FBI hacks into terrorist's iPhone without Apple assistance. And Japan signs investment deal with Zimbabwe
Trading has begun for the first time at the Yangon Stock Exchange in Myanmar. Tanzania's richest man says you can make a fortune without resorting to bribes. Microsoft pulls a chatbot that went rogue on Twitter.
(Picture Credit: ROMEO GACAD/AFP/Getty Images)
China has issued reassurances over the state of its economy. Somalia's President has appealed for aid to tack the country's drought. And in South Africa, President Zuma's son is under official police investigation over his connections with the Gupta family.
There have been urgent calls to tighten European borders after Tuesday's terror attacks in Brussels. Liberia has closed its border with Guinea over ebola fears. And the Nigerian government has announced its latest financial losses due to the low oil price.
Two explosions have hit the Belgian capital Brussels. The FBI may have found a way to unlock the iphone belonging to one of San Bernandino killers. And Zimbabwean farmers have said they cannot afford to compensate evicted white landowners.
Later Mr Obama will meet with President Raul Castro, but not his brother Fidel, and the pair will discuss trade and political reform.
Picture: YAMIL LAGE/AFP/Getty Images
The EU and Turkey hope to finalise a deal to end the migrant crisis
South Africa's leader faces further scrutiny over his links with a wealthy family
And how drones are being used to deliver healthcare in Malawi.
There has been protests in several Brazilian cities against the appointment by president Rousseff of her predecessor, Luiz Lula da Silva, as her chief of staff. We hear from Sao Paulo. The South African president is grilled over the influence of the Gupta family. And FIFA acknowledges world cup hosting bribes.
(Image: Luiz Inacio Lula da Silva Credit: Reuters)
The Chinese Premiere announces his plans for economic growth - we hear from our correspondent in Beijing. The Rand falls as South Africa minister's conflict with police escalates - we hear from Johannesburg. And Nigerian officials discover children as young as 8 years old on the government payroll.
(Image: Chinese president Xi Jinping Credit: AFP)
Bangladesh bank boss Atiur Rahman quits over $100 million cyber-fraud. Kenya, east Africa’s largest economy, has secured a $1.5 billion loan from the International Monetary Fund. And a Top NFL official acknowledges link between American football and brain damage.
French investigators have called for new rules for doctors after last year's Germanwings disaster.
China enforces international sanctions against North Korean ships looking to use its ports
Brazilian prosecutors file charges against former President Lula da Silva
Nigeria's oil workers head back to work after a major strike action
David Paul Morris/Bloomberg via Getty Images
Nigeria is at odds with the International Monetary Fund on how to deal with its foreign exchange shortage
The country's Petroleum Minister wants to reduce imports of petrol and oil based chemicals to zero
And South Africa's credit worthiness may be downgraded by Moody's
Picture: George Osodi/Bloomberg via Getty Images
Bangladesh's central bank has said its account at the U.S. Federal Reserve was hacked and money stolen
The European Union and Turkey have agreed new measures to stem the migrants crisis.
The presidents of Nigeria and South Africa meet for trade talks.
Photo: Majority World/UIG via Getty Images
The EU is to try and close the Balkan route for migrants
The Chinese premier warns of a "difficult battle" ahead for the economy
and we hear from the man many want to be the next president of the DRC.
Read by Lucy Burton at the BBC's business unit in London.
The mining company, Samarco, which is owned by Vale and BHP Billiton, has agreed to pay more than a billion dollars compensation for Brazil's worst mining disaster. The telecoms giant MTN has reported a fifty per cent drop in annual profits. And West Africa's middle class has become the new target in the illegal drugs trade.
Th oil giant Shell is being sued in London over oil spills in the Niger Delta. Moody's credit rating agency has downgraded its outlook for China. And Uganda and Tanzania have announced plans for a new oil pipeline.
Barclays bank has said it is pulling out of its Africa business over the next two to three years. And reports have suggested six million government jobs are to be cut in China.
Plus the Nigerian finance ministry is pretty keen on tracking down workers who don't exist and South Africa is set to unveil the continent's first solar powered airport. Lucy Kellaway’s argument over meaningless speeches with Hewlett Packard's boss, Meg Whitman and Leonardo Di Caprio finally won an #Oscar for best actor – how will it affect his pay?
Football's FIFA votes on its new leader
Iran holds elections, widely seen as a referendum on hopes for its economy
And Kenya's President experiences a backlash for his comments on corruption
Photo by Volker Hartmann/Getty Images
The Japanese electronics giant Sharp is the subject of a landmark takeover bid by a Taiwanese company. The phone company MTN has withdrawn its legal challenge against Nigerian regulators. And Zimbabwe is increasing security at its diamond mining fields.
South Africa is announces its crucial 2016 budget. Seven executives have been charged with murder over Brazil's worst mining disaster. And North America's largest cocoa processor has warned of a large supply deficit this year.
The world's biggest mining company has reported a huge half-year loss. A key wind farm project in Tanzania has been cancelled. And the bank Standard Chartered has reported its first annual loss in over a quarter of a century.
Plus the Indian army takes control of the canal supplying water to Delhi. Two months into the financial year and Nigeria still has no budget. Niger is one of the poorest countries on the African continent but incumbent President Mohamdou Issoufou is still expected to win upcoming elections. Plus Lucy Kellaway on why talk in business is even worse than just being cheap.
European leaders are meeting in Brussels to discuss amending Britain's relationship with the EU.
Votes in Uganda's elections are being counted as campaigners complain social media sites were blocked by the government
And are the oceans around Australia a "plastic soup"?
David Cameron said he was "battling for Britain" as he arrived in Brussels for a crucial EU summit. We hear from our reporter in Brussels. Venezuela hikes petrol prices for the first time in 20 years and nearly-extinct elephants continue to be poached in the Democratic Republic of Congo.
Saudi Arabia agrees to freeze oil production , we find out what this means for the price of oil. We hear from a business in Uganda about what a slowdown in China's economy means for entrepreneurs in Kampala. And in Mogadishu we hear about why they are banning signs written in English.
(Photo: Oil rig Credit: Reuters)
Growth concerns in Japan as the economy shrank by more than expected at the end of 2015. Banking giant HSBC says it will keep its headquarters in the UK, and a US bound flight is forced to turn back after a laser beam was shone at the cockpit.
(Picture: Tokyo, Japan. Credit: Kazuhiro Nogi/AFP/Getty Images)
After a rollercoaster ride all week the financial markets in Europe have steadied with moderate gains today, but stocks in Asia continued to slide. Investors are nervous about the health of the global economy, the slowdown in China and the effect of negative interest rates on banks, which have been among the biggest losers. Philip Augur is an independent banking analyst.
Hot dry weather brought by the El Nino weather pattern is causing drought in East and Southern Africa, threatening to undermine several economies...The United Nations has warned Somalia is in need of urgent food aid and Ethiopia's farming output is also suffering. Zimbabwe has declared a state of emergency after a drought badly affected harvests, but South Africa has backed away from declaring a national disaster, even though agricultural production is being hit over shortages of water. Mike Davies, a director at the economic consultants Kigoda in Capetown, told the BBC's Russell Padmore how the country is coping.
Democracy is a luxury for Africa and countries should focus more on helping businesses thrive to boost their economies. That's the surprising view of the renowned Ethiopian entrepreneur and former Olympic athlete Haile Gebrselassie. The former long distance runner has invested in several businesses from property management to car dealing and coffee farming. He told the BBC democracy is not a priority for Africans.
Global demand for chocolate is sweet for the world's cocoa producers, but farmers who grow the beans in Ghana are not enjoying the perceived benefits of higher demand. The cocoa industry is key to the economy of the west African nation, which also applies to its near neighbour Ivory Coast, the world's biggest producer of the commodity. But as the BBC's Ed Butler reports cocoa farmers in Ghana are having a bitter sweet experience trying to make money from growing the commodity.
The latest figures from Twitter shows its number of users is stalling. It reported 320 million average monthly active users - the same number as the previous quarter. We hear from a technology entrepreneur Ben Way in San Francisco. Drug resistant infections will cause 10 million extra deaths a year and cost $100 trillion by 2050 - that's if the global increase in antibiotic use is not stopped. We hear from economist Jim O'Neil who is investigating alternatives to antibiotics. And South Korea abandons manufacturing enclave in North Korea.
(Photo: Lab testing Credit: SPL)
The legal struggle continues for the crew of the Seaman Guard Ohio ship. The 35 sailors and guards on board received a five year sentence in Tamil Nadu, India in January. Deutsche Bank shares have recovered slightly , after hitting a 30-year low on Tuesday. And the social media campaign that is encouraging Nigerians to buy Nigerian - we hear from Abuja.
South Africa is endowed with some of the world’s richest mineral deposits. But right now it is a place where some of the largest miners in the world are reluctant to do business. We speak to the Chief Executive of Anglo American Platinum. The United Nation says four million Somalians are in need of urgent humanitarian assistance - we hear from the country's UN representative. And we go to the north of Scotland where a huge new gas plant has just gone online, despite the energy industry struggling with falling prices.
Image: South African Miners Credit: AFP
The Indaba mining conference begins in Cape Town, amid a gloomy global outlook for commodity prices. There are fresh hopes that three trapped mine workers in a South African Gold mine could still be alive. And a big new gas producing plant opens in the UK. (Image credit: AFP/Getty Images)
The president of Zimbabwe, Robert Mugabe, has declared a state of disaster in large parts of the country severely hit by a drought. The government says about 2.5 million people are suffering food shortages, with agriculture badly affected. Thousands of cattle have died as a result of parched grazing areas. Mr Mugabe's declaration comes days after the European Union urged him to declare a state of emergency, so international donors could quickly raise money to provide food aid. Eddie Rowe is a director of the World Food Programme in Zimbabwe.
Israel's maritime agency, Windward, has said more than 500 cargo vessels that entered European ports in January took unusual routes, through the territorial waters of Syria, Libya and Lebanon, for unclear reasons. The Israeli study, published today by the Financial Times, says ships are sometimes disabling their tracking devices. Security experts say there is no comprehensive system to track cargoes through EU ports and criminals are exploiting the weakness. Windward's chief executive, Ami Daniel, told the BBC that despite heightened terror alerts, security for sea transport is weak.
A major rescue operation has been taking place at a gold mine in South Africa. About 120 miners were trapped underground near the town of Barberton, but Vantage Goldfields says most of the workers trapped at its Lily Mine, about 360 kilometres east of Johannesburg, have been brought out. No fatalities have been reported. South Africa's mines are the deepest and among the most dangerous in the world, however deaths in the industry have been falling thanks to improved safety practices as well as major job cuts.
In northern Nigeria, bakers are on a three-day strike protesting about the rising cost of flour. The BBC's correspondent Abdullahi Kaura Abubakar reports how the strike is effecting traders and ordinary people in that region of Nigeria.......
Donor nations meeting in London yesterday pledged more than $10 billion to help Syrians affected by more than five years of war. The money will be spent on food, medical care and shelter - as well as education and jobs for refugees in neighbouring countries. The BBC's Joshua Thorpe was at the conference to hear the personal stories behind the speeches of the politicians.
From Aberdeen in Scotland to Asunción in Paraguay - over the last year the worst floods for 50 years have hit many parts of the world. So what should be done about it? George Monbiot, environmental campaigner and journalist, believes far too much emphasis is being placed on flood defences .
Internet search engine Yahoo reports its largest ever loss and says it will fire 15% of its staff
China may buy seed and pesticides company Syngenta
And South Africa's President may be ready to pay back some of the $23m the government spent on his private home
Internet search engine Yahoo reports a $4.3bn loss and says it will fire 15% of its staff
China may buy seed and pesticides company Syngenta
And South Africa's President may be ready to pay back some of the $23m the government spent on his private home
Oil giant BP reports its worst loss in twenty years
Brazil says the Olympic Games in Rio will be held despite the Zika virus
And more Australians move to New Zealand than the other way around for the first time since 1991.
Africa biggest economy is in need of emergency loans to plug a big hole in its budget. Nigeria is seeking a three point five billion dollars from the World Bank and African Development Bank. Nigeria's heavy reliance on revenues from oil at a time when the price of crude has fallen like a stone has forced the government to seek money from multi-national lending institutions. Doctor Obadiya Mai Lafiya, a former deputy governor of the Central Bank of Nigeria, told the BBC that the financial crisis will force his country to diversify its economy. However John Ashbourne, the Africa economist at Capital Economics, says a loan of three point five billion dollars will not fix Nigeria's budget shortfall.
The credit ratings agency Standard and Poors is ready to downgrade its assessment of the economies of five economies in Sub Saharan Africa, but Nigeria is not one of them. S and P's primary credit analyst for Africa, Ravi Bhatia told the BBC......which countries have a one in three chance of suffering a downgrade, that could make it more expensive for them to borrow money on the international markets.
Google will unveil details of its earnings for the fourth quarter later today and for the first time its parent Alphabet will divide the results into two chunks...the internet and other technology businesses that earn the money, as well as the side of the operations that is developing several projects. Dave Lee is the BBC's technology reporter in California.
The Police in Tanzania and and local anti-poaching groups are closing in on suspects they believe are responsible for killing a helicopter pilot, Roger Gower. It's reported four people have been arrested and several more detained in connection with the shooting. Tanzanian authorities are currently interrogating the men and believe to know the names of three other Tanzanian nationals who are currently on the run. More than 40 people from Tanzanian police, military and private anti-poaching NGOs are currently involved in the manhunt. The official said the the rifle used to shoot at Gower's helicopter is not an automatic weapon as reported by some media......Friedkin Conservation Fund said Roger Gower was helping to track the criminals when they fired on his aircraft. Pratik Patel is a spokesman with the group.
Marissa Mayer is the technology industry's ice queen - the chief executive who is supposed to save the internet giant Yahoo.......But she's been a controversial figure at the helm of the company - which has seen better days.....That hasn't stopped our regular commentator Lucy Kellaway of the Financial Times, from being a big fan.
Senegal says a gas reserve discovered in its offshore field is the biggest in West Africa.
The Japanese central bank has introduced negative interest rates for the first time, in an effort to boost an economy that's seen low levels of growth for two decades.
Barbie - the world's most famous doll - gets a makeover.
And, India has the world's fastest growing economy but female participation in the workforce is falling. The BBC's Anu Anand has been finding out why.
(Picture: A Floating Production, Storage and Offloading unit processing gas off the coast of Nigeria. Credit: Getty)
The number of workers killed in accidents in South Africa's mines has fallen to it lowest level on record. 77 miners died last year, compared to 84 in 2014. But is it a real sign of improved safety or a reflection of thousands of job cuts by the industry. The BBC's Matthew Davies reports from Johannesburg.
The alcoholic drinks maker Diageo has revealed that is latest figures for global sales of brands like Johnnie Walker scotch, Smirnoff vodka and Guinness beer were down by nearly five percent. The company suffered falling sales in its biggest market North America, but predicts its business there will revive later this year. Today Diageo reported global sales of eight billion dollars for the first six months of its accounting year. Diageo's chief executive Ivan Menezes told the BBC that emerging markets, such as countries in Africa, remain key to its business.
The alcoholic drinks maker Diageo has revealed that is latest figures for global sales of brands like Johnnie Walker scotch, Smirnoff vodka and Guinness beer were down by nearly five percent. The company suffered falling sales in its biggest market North America, but predicts its business there will revive later this year. Today Diageo reported global sales of eight billion dollars for the first six months of its accounting year. Diageo's chief executive Ivan Menezes told the BBC that emerging markets, such as countries in Africa, remain key to its business.
Samsung Electronics has been hit by falling sales for its smartphones and semiconductors. Profit for 2015 was down nineteen per cent to 165 billion dollars and the South Korean technology giant says it will be difficult to maintain profits this year. Samsung makes components for other smartphones and that means it's being hit by a slowdown in sales of Apple's iPhone.......The BBC's Andrew Wood explains.
You may think the world's toymakers are taking a break after the rush for last Christmas, but the industry is already looking ahead to Christmas 2016 and beyond. Toy fairs are an important part of the industry's calendar - .the showpiece events give toymakers a chance to size up the competition and retailers get to gamble on the next phenomenon that will have children begging their parents to buy it. The BBC's Elizabeth Hotson went along to the British Toy and Hobby Association Fair in London to see what's going to be hot in the coming months.
Apple has reported slower than expected iPhone sales. The world tennis authorities have launched a probe into match-fixing. And Senegal and Ghana are among the most-improved countries when it comes to tackling corruption.
Denmark is expected to approve controversial new rules for asylum seekers. Markets in Asia have fallen again. And a conference in Islamic Finance has opened in the Kenyan capital Nairobi.
The BBC has learned that Adidas is going to end its sponsorship deal with the world athletics' governing body, the I-double A-F, in response to the doping scandal. The eleven year deal was due to run until 2019 and is believed to have been worth more than thirty million dollars. The I-double A-F says it is talking with all sponsors about reforms. Dan Roan is the BBC's Sports editor.....
Hotels across West Africa are boosting security as the threat of terrorist attacks increases. Last week 30 people were killed at a top hotel in Ouagadougou, the capital of Burkina Faso.....while in November, 20 people were killed in an attack at a hotel used by foreign business people in the capital of Mali, Bamako. The BBC's Tamasin Ford reports from Abidjan, the economic capital of Ivory Coast.
The United States has urged the African Union to reach a deal to end tensions in Burundi, which has refused to allow AU peacekeepers to enter the country. Burundi's economy is in a crisis and the United Nations says nearly a quarter of a million have fled the country fearing ethnic conflict. The East African Community is considering expelling Burundi and neighbouring nations are fearing the crisis could affect trade in the region. Nebert Rugadya is an economic commentator in Kampala.
The economy of Saudi Arabia is heavily dependent on the fortunes of the oil industry, which is perhaps understandable as the kingdom is the world's biggest exporter of crude. However the Saudis have plans to change that and this week they will be courting foreign investors to consider putting money into a range of industries, including information technology, retail and tourism. But with Saudi Arabia's controversial record on human rights and slow social reforms encouraging more western tourists might be a challenge.....a question the BBC put to Abdullatif Al-Othman, the governor of Saudi Arabia General Investment Authority......
This is Business Update from the BBC. The main headlines:
Global markets rally after a turbulent week
Sudan and South Sudan have come to an agreement over oil transportation
and
South Africa will continue to allow the trade in rhino horn.
I'm Lucy Burton at the BBC's business unit in London.
More than 80 pharmaceutical companies have called on governments to develop new ways of paying them to develop antibiotics. We hear from the CEO of GlaxoSmithKline. Real Madrid are crowned as the richest football club...again. And, a Kenyan regulator threatens to block Netflix in the country as the video streaming service begins to roll out it's service in Africa.
Stock markets worldwide have tumbled with investors unsettled by the continued slide in oil prices and fears about the impact on global growth. World leaders convene for the World Economic Forum in the Swiss ski resort of Davos. And millions in southern Africa go starving, as crop crisis hits farmers.
China's growth, seen as a driver of the global economy, is a major concern for investors around the world. Its economy grew by 6.9% in 2015, compared with 7.3% a year earlier, marking its slowest growth in a quarter of a century. We hear from Beijing. Nigeria's government lists individuals that have stolen from the country's treasury. And, actors boycott the Oscar awards ceremony, following two successive years of no African-American nominees.
(Image: Director Spike Lee)
Oil prices have continued to fall, following the lifting of international sanctions on Iran. Oxfam says the richest one per cent of the world's population now owns more than the combined wealth of everyone else on the planet. Financial Times Columnist Lucy Kellaway questions whether companies are right to put so much emphasis on 'storytelling' as part of the corporate mission.
BHP Billiton has written down over 7 billion dollars of shale assets.
A new case of Ebola has emerged in Sierra Leone
Chinese stocks have re-entered a bear market
Brent Crude Oil briefly dips below $30 a barrel.
Ethiopia shelves plans to expand the capital, Addis Ababa, after protests.
And there are three winners of the largest US lottery jackpot in history.
French bank Societe General has warned investors about the health of the global economy
Lego has announced a policy reversal after Internet pressure
A global programme to investigate diseases that jump from animals to humans has been launched in Kenya
China buys into Hollywood and now owns Godzilla.
Nigeria struggles under a continuing currency crisis.
And President Obama says South African agricultural goods may be stripped of their duty-free status by mid-March.
Chinese stocks plunge 5% , we find out how in the city of Chengdu feel about the country's economy. The South African rand has a turbulent start to the week, we speak to our correspondent in Johannesburg. And, our regular commentator Lucy Kellaway shares with us her top ten jargon phrases of 2015.
China devalues its currency causing stock markets to tumble. Oil slips further, hitting fresh 11 year lows and Tanzania expel foreigners with illegal work permits
Ethiopia has said more than 18 million people now require food aid in the country
Chinese stock markets have recovered some losses after the authorities intervened
And Ford has said it's ready to test autonomous vehicles on public roads
Chinese Stock Markets have rebounded after yesterday's heavy falls.
Venezuela is to swear in all parliament members, even as three are accused of electoral fraud.
And Britain's Royal Mail celebrates 500 years of delivering the post.
Share trading has been suspended in #China after stock markets fell by 7% triggering an automatic shut down of the country's exchanges. Weaker than expected manufacturing data was blamed for the sharp fall in prices.
Oil prices have risen in reaction to the deepening dispute between Saudi Arabia and Iran.
And Sweden has brought in border controls for travellers coming from Denmark.
The authorities in China now say only four survivors have been located following a rock-fall at a mine in Shandong Province, half the number they reported twenty-four hours ago.
Security has been increased for New Year's Eve celebrations across Europe.
And the Nigerian President says he's prepared to negotiate with Boko Haram.
Photo Credit: AP
Facebook is accused of misleading the public before its stock market flotation, and now faces the prospect of class action lawsuits.
Rescuers are trying to free eight miners found to be alive five days after a mine collapsed in China.
And voters go to the polls in the Central African Republic.
(Image Credit: Reuters)
The World Health Organisation says Guinea is free of Ebola - two years after the West African outbreak began there.
Scandal-hit Toshiba is seeking billions in new credit.
The richest people on Earth became a bit poorer this year - according to the Bloomberg Billionaires index. The world's 400 wealthiest individuals shed $19 billion in 2015.
(Photo: A health worker wearing a personal protective equipment at the Ebola treatment center run by the French red cross society in Macenta in Guinea. Credit: Getty Images)
Saudi Arabia reveals its budget amidst the plummeting oil price
The chairman of China Telecom is being investigated
South Korea and Japan reach a deal over World War 2's comfort women.
(Photo: A gas station in Riyadh, Saudi Arabia. Credit: Reuters).
India throws a spanner in Facebook's plan to provide free Internet
Chile grants free university education to all students
And an architect submits a new plan to the Greek government to rebuild the Colossus of Rhodes
A court in New Zealand said it will allow the extradition to the US of Internet entrepreneur Kim Dotcom
Zimbabwe says the yuan will be legal tender in the country from 2016
And the President of Columbia legalizes medicinal marijuana.
Nigeria announces its government budget
The US plans to place lions on the list of endangered species
And SpaceX successfully lands one of its reuseable rockets.
Two of the biggest figures in football, Sepp Blatter and Michel Platini, have been banned from the game for eight years. A FIFA investigation found both men guilty of ethics code breaches -- surrounding a two million dollar payment to Mr Platini which was approved by Sepp Blatter in 2011. Speaking in Zurich, Mr Blatter said he would challenge the decision and had never taken money he had not earned.
Spain's political parties are set to begin tough negotiations after Sunday's general election which failed to produce a clear winner. The acting prime minister, Mariano Rajoy, said he would try to form a new government, after his conservative Popular Party lost its parliamentary majority.
The Africa-focused gold producer, Randgold Resources has pulled out of a major mining project in Ghana. It's less than four months since the company declared an interest in the plan to redevelop AngloGold's ageing Obuasi gold mine which was shut last year.
(Photo: Sepp Blatter at press conference in Zurich on 21 December. Credit: EPA)
The world's demand for coal is peaking and will fall next year, that's according to the International Energy Agency. It could prove to be a major economic setback for countries like Mozambique and South Africa where exports of coal provide significant earnings. The IEA predicts India will take over from China as the world's biggest user of coal by 2020, as the Chinese economy reduces dependence on coal fired power stations. Fatih Birol is the director of the IEA .
The world's airlines are set to enjoy a profitable period thanks to the huge fall in oil prices making aviation fuel significantly cheaper. However airlines across Africa will not benefit from lower costs of jet fuel because it is priced in dollars and carriers across the continent have to pay for it local currencies which have lost value against the greenback. The global body that represents airlines, IATA, claims governments in Africa are failing to create conditions to help the aviation industry thrive. Brian Pearce is chief economist of IATA.
The government of Uganda claims it will double the output of power generation in the country by 2020. In common with many countries in Africa Uganda suffers a chronic shortage of electricity and businesses have long since got used to providing their own power by using generators. Nebert Rugadya, an economic commentator in Kampala, told the BBC the target is realistic because of significant new investment by foreign companies in power projects.
World stock markets have responded positively to the first rise in American interest rates for nearly a decade. The US central bank, the Federal Reserve, raised a key short term rate by 0.25% - a sign of its confidence in continued economic growth in the country. However, as the US dollar strengthens following the rate rise, some emerging markets, such as Brazil, South Africa and Indonesia, which have borrowed in dollars, may now find it more expensive to pay back their debts. In addition, some investors have already started to pull money out of emerging markets where returns have until recently been more attractive than in the US. That process may now speed up, further damaging emerging economies. #FedDecision
The long period of ultra low interest rates in the United States is widely thought to be coming to an end. The US central bank, the Federal Reserve, is expected to raise rates later today, for the first time in nearly a decade. Its main rate has been held at close to zero since 2008. #FederalReserve
The first high-level meeting by the World Trade Organisation in Africa began on Tuesday in the Kenyan capital, Nairobi. Ahead of the meeting, African leaders said the WTO must do more to support agriculture in Africa, and develop a global approach to farming subsidies. But the institution is facing questions about its relevance after the United States called for an end to the Doha Round of talks.
The South African rand has recovered today after President Jacob Zuma made a dramatic u-turn and fired a second finance minister in a few days to install Pravin Gordhan, a decision greeted with approval by the markets. Mister Gordhan, who has previously held the finance post, replaces David van Rooyen whose appointment last week, after the dimissal of Nhlanhla Nene, dismayed foreign investors because of his lack of experience. President Zuma's decision making has provoked much criticism as the South African economy faces many challenges. Karen Allen is the BBC's correspondent in Johannesburg.
Businesses around the world are assessing how the landmark deal to reduce carbon emissions, agreed at the weekend by nearly 200 countries, will affect their operations. US President Barack Obama described it as a "turning point" while China, the world's biggest polluter, hailed the deal, along with India. Anthony Hobley the chief executive of the research group Carbon Tracker Initiative, told the BBC energy companies will have to reassess many projects.
The British drugs maker Reckitt Benckiser has been ordered to stop selling brands of its Nurofen painkillers in Australia, after a court ruled that it had been misleading consumers. The company faces a fine that has yet to be determined, for selling more expensive drugs that claimed to be specific treatments for back pain or headaches, which actually had the same ingredients as its cheaper product. The basic Nurofen treatment was half the price of the drugs that claimed to target specific pain. Reckitt Benckiser claims it "did not set out to mislead consumers." Rod Sims is the chairman of the Australian Competition and Consumer Commission.
The deadline for reaching a deal at the climate talks in Paris has been extended by one day. The he French Foreign Minister Laurent Fabius told French TV that "things are positive" and that a new compromise deal would be presented on Saturday. One of China's richest business men Gua Guangchang has been reported missing and military bases have been attacked in Burundi.
David van Rooyen has replaced Nhlanhla Nene who was sacked as finance minister yesterday. His removal from the post by President Jacob Zuma has caused widespread criticism in South Africa. Mr Nene was a well respected finance minister both at home and on the global stage whereas Mr van Rooyen is relatively unknown. The shake-up comes as the country's economy struggles in the face of falling commodity prices. #Nene
The chances of a new global climate deal have increased with the announcement that the European Union will join an alliance with 79 African, Caribbean and Pacific countries in a final push for agreement at talks in Paris. The new grouping has agreed a common position on some of the most divisive aspects of the proposed deal. #COP21Paris
The value of crude has been pushed down to its lowest for almost seven years, after it emerged that there'll be no new cuts to production from major oil producing nations, The mining giant Anglo American shrinks, and cuts investment. And Namibia's president tells the BBC what he's been doing to encourage Chinese firms operating in his country to pay the minimum wage.
The opposition party in Venezuela has won control of the National Assembly for the first time since the socialists came to power under the late Hugo Chavez
Ministers from around the world gather in Paris for a final week of climate talks and a BBC investigation has revealed that FIFA president Sepp Blatter is being investigated by the FBI over his role in a bribes scandal
China's President has announced $60 billion of development funds for Africa
EU ministers are to discuss suspending free movement through member states
The US Attorney General has accused FIFA officials of committing a betrayal of trust
China and South Africa have signed some major trade agreements. Africa's phone giant MTN has had a 5 billion dollar fine reduced by the Nigerian authorties and Chronic power shortages are continuing in Ghana. I'm Katie Hile at the BBC's business unit in London.
Mark Zuckerberg promises to give away vast amounts of his Facebook fortune
Amnesty issues a warning over Eritrean migrants
and
African leaders promise a renewables revolution.
I'm Lucy Burton at the BBC's business unit in London.
This is Business Update from the BBC. The main headlines:
A faulty component has been blamed for an Air Asia crash
African leaders have gathered in London for an investment summit
and
Xi Jinping will meet Robert Mugabe in Harare.
I'm Lucy Burton at the BBC's business unit in London.
World leaders have launched their ambitious attempt to reach an agreement to stop global warming.
(Photo: US President Obama leaves after a speech during the opening session of the World Climate Change Conference 2015. Credit: Reuters)
The Pope has criticised Kenyan property developers who took away children's playgrounds.
Monitoring by drones has been suggested as a way of preventing petrol theft in Nigeria.
Shares in China closed more than 5% down.
Brazil's 13th richest man has been arrested in connection with the Petrobras scandal
VW has been ordered to recall cars by South Korea
And the Pope has begun his tour of Africa in Kenya.
The World Bank has unveiled a multi billion-dollar plan to help African countries cope with climate change. The French Prime minister has said the EU can't continue to accept large numbers of refugees. And Africa's richest woman has been speaking to the BBC.
The budget airline Easyjet says it has cancelled all flights to the Red Sea resort of Sharm el-Sheikh until 6 January. British Airways has cancelled flights up to and including 14 January. Other carriers are still planning to resume services to the region in mid-December. All British operators to Sharm el-Sheikh suspended their services after the loss of a Metrojet flight in the Sinai desert last month. Investigators believe it was brought down by a bomb.
European Union ministers discuss tightening security checks at the EU's external borders.
A church leader in Singapore is convicted of corruption after mis-using money to help fund his wife's pop career.
Seven years after ABN Amro was nationalized - the bank returns to public markets.
Photo credit: AFP
Water cannon were turned on protesters in the Philippines at the APEC conference
Swaziland is expected to be free of malaria by 2017
And Russia's Anti-Doping Agency has been suspended
Two Air France planes from the US to Paris have been diverted following bomb threats
Nigeria has ordered the arrest of a former top official for allegedly stealing $2 billion
And British bank Barclays is expected to pay another $100 million in fines to US regulators
The President of Russia has called for cooperation to help beat terrorism
A Brazilian subsidiary of BHP Billiton and Vale has been fined $260 million for the burst dams disaster
And Guinea has declared its last Ebola victim free of the disease.
Business as usual: Paris stands defiant following the killings of nearly 130 people. Nervous investors drive shares lower across Europe and Nigeria gives the African mobile giant MTN more time for talks over a huge $5 billion fine. (Russell Padmore presents BBC Business Update)
Eurozone growth slowed for the second consecutive quarter as orders for German exports eased
Ghana's finance minister outlines his 2016 budget
And a subsidiary of mining giants BHP Billiton and Vale is fined $66 million in Brazil
European Union leaders have approved an agreement to help African nations stem the flow of migrants making the journey to Europe. At the EU-Africa Summit on Migration in Malta they set up a $1.9bn trust fund to tackle the root causes of migration, Plus, a rare blue diamond sells for a record $48.5bn at auction and Prime Minister Narendra Modi of India arrives in Britain amid talk of trade deals worth billions of dollars.
Three men in the United States are charged with the world's largest ever hacking scam.
Brewer Anheuser-Busch InBev bids $108 billion for SABMiller
And the world's most expensive pink diamond sells at auction in Geneva
Myanmar's opposition party, led by Aung San Suu Kyi, is believed to have won the country's election.
British Prime Minister David Cameron has laid out the changes he wants in the UK's relationship with Europe.
And, the Chief Executive of Easy Jet urges tighter security controls at airports.
The Chief Executive of African mobile phone giant, MTN, has resigned
Ministers from the European Union are meeting for emergency talks about steel makers
And the World Bank has said a hundred million more people will be pushed into poverty by Climate Change
Britain begins repatriating tourists from Egypt - as Egypt restricts rescue flights from taking off.
Oil giant Exxon is being investigated by New York's Attorney General
President Obama releases full details of the Trans-Pacific Partnership trade deal
The British government has suspended all flights between the UK and the Egyptian resort of Sharm el-Sheikh on the shores of the Red Sea. We hear from a Cairo-based business on the repercussions this will have for the economy. Facebook reports a jump in profits. And, Tanzania prepares to swear in a new president.
Shares in #VW tumble after new revelations of 'irregularities' in the amount of carbon dioxide emitted by some of its vehicles. The Egyptian President Abdel Fatah al-Sisi says young people in Egypt will only have jobs and a future if the security situation there is improved. And the Mexican designers hoping to overcome the country's problematic international image.
The FTSE 100 bank , Standard Chartered, goes to shareholders for cash and prepares to protect itself, as an economic slowdown hits its core markets. Oil giant Shell has been accused of making false claims about the extent of its clean-up operations in Nigeria. The Ivory Coast swears in it's new President. And, Amazon and ebay could be liable for billions of dollars of sales tax avoided by some of their online traders. Other law-abiding traders say the fraud could put them out of business.
More than fifty African leaders have been welcomed in the Indian capital Delhi as part of the India-Africa Forum Summit. Indian Prime Minister Narendra Modi announced $600m in assistance for development projects in Africa. The summit, unprecedented in scale, is being seen as an attempt by India to improve its ties to Africa where its economic engagement is dwarfed by China. India is interested in Africa's natural resources, while African countries want to benefit from Indian expertise in areas such as IT and mobile phones.
Also on the programme, Google is sending about three hundred helium balloons up into the stratosphere to beam internet connections to remote areas on the ground. The company hopes that by next year, Project Loon as it's called, will mean it can set up a ring of balloons around the world to provide a continuous data service to areas without internet access. Google plans to reach isolated communities in Indonesia as part of a trial involving three of the country's mobile phone networks.
Plus, Anglo-Dutch oil giant Shell slips into loss as it pulls out of some projects in Canada and Alaska and suffers the effect of oil price falls.
The president of Ivory Coast, Alassane Ouattara, has won a second term in office with more than 83% of the vote. Several opposition candidates pulled out saying the election wouldn't be free and fair, but US observers said they were satisfied it was. Mr Ouattara - a former official with the International Monetary Fund - campaigned on restoring economic health to Ivory Coast, which is the world's largest cocoa producer.
Also on the programme: brewers Anheuser-Busch InBev and SABMiller have been given more time for merger talks and the chief executive of De Beers, Philippe Mellier, tells us it will take years for diamond demand to take off in Africa.
BP profits have tumbled on the falling oil price
Global Warming may make parts of the Middle East inhospitable for humans
And eight candidates are vying to be the new head of FIFA.
The World Health Organisation says some meats may increase the chance of getting cancer.
Toyota overtakes Volkswagen to become the world's biggest car company.
And African Leaders begin a summit in India to discuss cross-national investment.
Anglo American says output of Platinum and diamonds will be cut
YouTube announces a subscription channel
And Egypt battles to prevent a devaluation of its pound
Canada's Liberal Party has won the general election
China's President is on a state visit to Britain
And mobile phones & Internet have been cut off in Brazzaville.
China's economy has grown at its slowest pace since 2008.
Ghana holds crisis talks with Nigeria over an unpaid $100 million bill for gas and Zambia's currency is steady on the markets, after the president urged people to pray for a solution to the country's economic crisis.
The European Union reaches a deal with Turkey to help stem the flow of migrants across borders. The World Bank puts together a package to help countries affected by Syrian refugees. And Nigeria may cut off gas supplies to Ghana.
The Australian government has given the green light to a controversial project to build one of the world's biggest coal mines. The Indian mining giant, Adani won approval to construct the Carmichael mine in the state of Queensland, despite environmental concerns. The go-ahead has been given subject to "36 of the strictest conditions in Australian history," according to environment minister Greg Hunt. Critics describe the decision as "grossly irresponsible".
A nationwide strike of pharmacies is taking place in India today in protest at online drugs sales. The All-India Organisation of Chemists and Druggists wants online drug sales banned because they say the lack of a doctor's prescription risks the health of patients. The drug companies contest this, saying that they keep strict control over how they sell drugs, and that the strike is really about pharmacies trying to protect their monopoly of drug sales.
The British brewery SABMiller - formerly South African Breweries - has agreed to a takeover by its Belgian-Brazilian rival Anheuser-Busch InBev. The $109bn deal would create the world's biggest brewer, producing nearly one in every three beers consumed around the world, including brands such as Budweiser, Stella Artois, Foster's, Miller and Grolsch.. The deal has been driven in part by SABMiller's massive presence across Africa, and would give AB InBev access to one of the world's most rapidly expanding markets.
Police in Indonesia say charges are being brought against twelve companies and 209 individuals in relation to forest fires, which have caused some of the worst air pollution on record in the region. The companies haven't been named - but one is reportedly Chinese-owned and one Malaysian. The charges can lead to prison sentences of up to 10 years and maximum fine of around 740,000 USD.
The Nobel Prize for economics has been awarded to Angus Deaton, who has British and American nationality and is a professor at Princeton University in the United States. The Royal Swedish Academy of Sciences which awards the prize says he is being honoured for his analysis of consumption poverty and welfare.
Lawyers representing thousands of current and former gold miners have gathered in the high court today to argue a case for mass class action against the gold mining industry. The miners alleged they contracted an incurable lung disease - silicosis while working underground. If successful, it will be the largest case of its kind in the country.
All that and more of the day's news as well as the latest from the financial markets.
(Photo credit: Getty Images)
The head of the International Monetary Fund, Christine Lagarde has told the BBC China's economy will gain momentum next year.
The beer giant SABMiller cuts new investment in South Sudan after failing to make a profit for six years.
And South Africa's ostrich farming sector recovers from a bird flu crisis.
The head of Volkswagen in the US is to appear before Congress.
Fifa's Sepp Blatter is suspended for 90 days.
And mining companies in Zambia are pressuring the government for lower royalty payments.
VW faces a deadline today from regulators to come up with a plan to make its cars compliant with emissions legislation.
One of the largest patches of farm land in Australia is up for sale, and it's causing controversy.
And Nigeria's President has named his new anti-corruption cabinet.
The European Court of Justice has made a ruling affecting companies like Facebook that transfer data outside the EU.
China says welcomes a new free trade zone agreed by twelve other Pacific countries.
And Britain's ruling Conservative party wants to tighten rules on immigration.
The World Bank says the number of people living in extreme poverty will fall below 10 per cent of the global population for the first time by the end of 2015. The Bank attributes the drop to continuing economic growth in emerging markets, and investment in education and health. Half of those living below the poverty line are in Sub-Saharan Africa.
Campaigners have launched a class action law suit against some of the world's biggest chocolate manufacturers, saying the companies regularly import cocoa beans from suppliers who use child labour. The law suit is being brought on behalf of consumers in California against Nestle, Hershey and Mars. In statements, Nestle and Hershey say they are committed to improving conditions for workers and have no tolerance for illegal practice.
Plus, we look at what is happening elsewhere in the world of business.
Tough new laws on food safety have come into force in China, where more than one third of the population considers food safety to be a "very big problem". The new rules ban highly toxic pesticides, regulate food labelling and increase punishments for those who violate existing laws. There's also a new burden of responsibility placed on everyone who handles food, from farms and fields to restaurants and food stalls. Plus, we look at what is happening elsewhere in the world of business.
Some Volkswagen staff acted criminally over emission cheat tests, according to a member of VW's board. Worldwide about11m cars are affected by the problem, which means that software fitted in certain models allows them to detect when a engine is being tested and change emissions performance to improve results. The scandal has caused millions of people to lose faith in the company according to Olaf Lies, who is also economy minister of the German state of Lower Saxony.
Also on the programme, Nigeria's President, Muhammadu Buhari says he will stay in charge of country's oil ministry, and anti-corruption protestors have taken to the streets in South Africa.
Zambia's currency falls to a record low against the dollar.
Hitachi will pay $19 million to settle charges relating to improper payments in South Africa
And New Zealand has revealed plans to turn an area of the South Pacific about the size of France into a marine reserve.
Oil company Shell says it will stop exploration and drilling in the Arctic for the foreseeable future. Zambia asks foreign investors to ignore a ratings downgrade from Moody's India's Prime Minister Modi hails technology on his visit to California.
The board of Volkswagen is meeting to consider ways of rebuilding the company's reputation following the revelations that its diesel engines were fitted with software to manipulate tests on emissions. Germany's transport minister has revealed VW cheated emissions tests in Europe, as well as the United States. The scandal will cost the car giant billions in fines, or claims for compensation and it has issued a profits warning. Volkswagen is expected to appoint the current head of Porsche, Matthias Mueller, as its new chief executive. Sasja Beslick from Nordea, one of VW's biggest shareholders, says the new leadership will need to move quickly to restore trust..
The founder of Tanzania based Precision Air, Michael Shirima, has blamed the carrier's financial problems on selling shares at the wrong time. Precision floated shares on the stock exchange in Dar es Salaam in 2011, but failed to raise the funds it projected were needed to finance expansion. The airline has struggled to cope with competition from low cost rival Fastjet and the Government is being pressed to merge it with the struggling national carrier Air Tanzania. Precision Air's Michael Shirima told the BBC he regrets mistiming the initial public offering, or IPO share sale.
The tourism industry in South Africa is pressing the government to revise new visa regulations that have led to a drop in visitors to the country. The requirement for full birth certificates for children and biometric identification could lead to one hundred thousand fewer visitors, that's according to the Tourism Business Council of South Africa and the country's central bank has warned the visa regulations will hurt the economy. John Ashbourne, from Capital Economics, told the BBC that tourism is a key part of the country's economy.
Hill farmers in many parts of Britain are struggling to deal with bracken, a tough fern plant thrives on steep, wild terrain. It's growth has increased with climate change and it's swallowing up land that the farmers need for grazing livestock. Several studies have even linked it with cancer, but destroying bracken with herbicide is expensive and tractors struggle on the steep mountainsides. Now - a UK-based company, Oakland Biofuels, in partnership with a German engineering firm, is conducting trials to see if bracken can be used as biofuel. Fergus Nicoll reports from North Wales.
Germany's transport minister says Volkswagen has admitted using the same fake emissions test in Europe as it used to falsify results in the US.
President Obama is set to welcome the Chinese president to the White House and Keyna's Jambo Jet loses money in it's first year.
Crisis meetings at Volkswagen Glencore plans to cut nearly 4,000 jobs in Zambia and Turing Pharmaceutics lowers the cost of Daraprim after a backlash over pricing I'm Lucy Burton at the BBC's business unit in London.
The head of a US pharmaceutical company has defended his company's decision to raise the price of a 62-year-old medication used by Aids patients by over 5,000%.
The United Nations Refugee agency says Europe's plan to take in 120,000 refugees will only work if the European Union opens up reception centres capable of housing tens of thousands of people.
Over two million Muslims have gathered in Mecca in Saudi Arabia for the start of the Haj.
This is Business Update from the BBC with Lucy Burton
Shares in Volkswagen, have plunged more than 20 percent after the car giant admitted falsifying emissions tests in the US. Volkswagen has apologised for cheating emissions tests on about half a million vehicles in the United States. The U.S. Environmental Protection Agency has revealed Europe's biggest carmaker used software for diesel VW and Audi cars that deceived regulators when measurements of nitrogen oxide emissions, or Nox, were carried out. Volkswagen could be fined as much as 18 billion dollars.
The British government has agreed to underwrite three billion dollars of financing from China for a new nuclear plant in southwest England. The UK helped pioneer the nuclear power industry decades ago, but it is now encouraging Chinese investment in the sector. The chancellor of the exchequer, George Osborne, claims the deal is a winner for both nations.
Cocoa farmers in West Africa fear hot and dry conditions from the El Nino weather pattern could damage their crops in the coming months. Every two to seven years the El Nino changes the world's weather by reversing trade winds in the Pacific, allowing warm water to spread east which means dry weather for West Africa and the possibility of drought.
A member of Britain's Royal family has issued a stark warning about the future of the rhino and elephant in Africa. Prince William, who is leading a conservation charity to protect wildlife in Africa, claimed endangered species were threatened with extinction within a few decades and that illegally hunting the animals for their horns or tusks was "barbaric". The Duke of Cambridge was speaking during an event to mark the twenty fifth anniversary of the Tusk Trust, which he has supported for almost a decade.
Discrimination in the workplace is illegal in most developed economies. Well at least it is on the basis of gender, creed or ethnic background. But some research shows that people perhaps considered good looking, handsome or pretty, earn more than colleagues with an appearance that could be seen as plain, or maybe even ugly. It's something that has caught the attention of Lucy Kellaway from the Financial Times.
The world's largest brewing company has announced a takeover bid for its biggest rival. And Kelloggs has announced a massive new investment in Africa.
Nigerian government departments have until the end of today to ensure all their financial transactions pass through a single account, managed by the country's central bank. President Buhari, pictured, introduced the measure in a bid to monitor government spending and stamp out corruption. Also, Australia's new Prime Minister Malcolm Turnbull faces economic challenges ahead. And have billions of dollars been wasted on computers in schools?
Egyptian security forces mistakenly attack a tourist convoy, leaving 12 people dead. Air pollution blamed for half a million premature deaths in Europe. And is your job under threat from robots?
China cracks down on corruption saying they plan to prosecute the former chairman of a state-owned industrial conglomerate, Russia's central bank holds its main lending rate amid a long recession, and mining giant Glencore has its outlook downgraded by Moodys. (Photo credit: AFP/Getty Images)
Brazil's credit rating has been cut to junk status, plus global food prices have recorded a sharp fall.
The European Commission President has said the EU is 'not in a good state' as it struggles to deal with migrants. Plus, the Nigerian stock market has fallen sharply over concerns about bond investments.
The European Commission is meeting to finalise controversial proposals to relocate. Plus experts have warned that the world is running out of one of the most effective snakebite treatments, putting tens of thousands of lives at risk.
Germany promises 6 billion dollars to help migrants; one of the world's big mining companies is suspending some copper production in Africa; and the BBC announces a plan for its future.
The United Nations children's agency says conflicts across the Middle East and North Africa mean more than 13m children are not attending school. The UNICEF report says a whole generation is growing up outside the education system. It points to Syria, the Gaza Strip, Iraq , Libya, Sudan and Yemen and says refugees from there say the education of their children is their main reason for leaving. Unicef's boss stresses that education increases the chances the children will be able to support themselves in the future and provide a better life for their families, but it also gives them the skills to rebuild their societies.
The World Meteorological Organisation says the current El Nino weather phenomenon could be one of the strongest since records began in 1950. Indian scientists believe it has already caused a reduction in rainfall during this year's monsoon season. The prediction raises fears about El Nino's potential impact on the crops and economies affected by it.
Stock markets in Europe and Asia have fallen again following new signs of a slowdown in factory production in China. A survey of managers suggests manufacturing output declined in August at its fastest pace for three years. Japan's Nikkei fell more than 4%, while shares in Shanghai ended the day down just over 1% after a sharp decline earlier in the session.
Also on the programme, Tanzania's controversial new cybercrime bill comes into force today and why the OECD says the migrant crisis brings both challenges and opportunities for Europe.
European Ministers say they'll hold an emergency meeting to discuss the migration crisis. Egypt discovers one of the world's largest natural gas fields. And Film Director Wes Craven dies, aged 76. Picture Credit: AP Photo/Petros Giannakouris
South Africa's mining industry warns the slowdown in China will mean major cuts in new investment - putting jobs at risk.
The US Secretary of State, John Kerry, has urged countries in Africa to take advantage of favourable trade terms under the AGOA deal.
Google has rejected accusations by the European Union that it abuses its market dominance.
Plus peace in South Sudan brings the challenge of reviving the economy, as businesses struggle to deal with a shortage of US dollars in Juba.
The main share index in Shanghai rose more than 5% on Thursday , although it is still sharply down on last week. Yesterday, Wall Street saw its biggest rise in four years. We look at the background to the increases.
Also on the programme, 12 people have been detained by police in China over the deadly warehouse explosion in Tianjin and Germany's foreign minister has called on all EU countries to share the burden of migration.
The main share index in Shanghai was down a further 1.27% by close of play on Wednesday. That decline was followed by falls in European stock markets. We get a view on why the intervention by the China's central bank does not appear to have worked.
Also on the programme, we look at how the turmoil in China has impacted on Africa and we hear from India's central bank governor, Raghuram Rajan, who says the present turmoil is not a repeat of the 1997 Asian financial crisis
The main financial markets in Europe and Asia have fallen after Chinese shares dived nine percent, along with a sharp drop in the dollar and commodity prices. The presidents of Uganda and Kenya have intervened in a trade dispute to lift a ban on imports of Ugandan sugar to Kenya. And Ireland has impounded a jet owned by the Democratic Republic of Congo's national airline.
Asian markets fall as China's manufacturing data disappoints, Macedonian police fire tear gas at migrants entering from Greece and doctors in Ghana are on strike for a 3rd week. (Picture credit: AFP/Getty Images)
Greece has met the deadline to make a crucial debt repayment to the European Central Bank, according to reports. Athens was able to tap into newly released bailout funds. The repayment comes a day after German MPs approved Greece's third financial rescue, in return for tough new austerity measures.
The German parliament has voted in favour of the latest $95bn Greek bailout, despite a rebellion within the ranks of Chancellor Angela Merkel's own party. The motion was passed by a large majority.
Also on the programme, Google launches a cheaper Android phone in Africa and record numbers of migrants arrive in the European Union.
The main Chinese stock market, the Shanghai Composite Index, fell by 6% on Tuesday, the latest swing in a volatile summer for the country's currency and exchanges.
Qatar has launched a migrants' wage protection scheme. The Wage Protection System has been Introduced by the government following criticisms that some employees brought in to help prepare for the 2022 Football World Cup are not being paid properly - sometimes not at all. Under the scheme workers are guaranteed to be paid once or twice a month, and firms will face fines if they don't comply.
And the president of Gabon, Ali Bongo Ondimba, says he will give his inheritance to the country's youth.
The Japanese economy shrinks in a blow to the government's huge economic growth programme.
Zimbabwe loses twenty thousand jobs after a change in working conditions makes it easier to fire people.
Researchers have designed a book on how to purify water -with pages that double up as water filters.
(Photo: Japanese pedestrians cross a street in Tokyo. Credit: Yoshikazu Tsunoyoshikazu Tsuno/AFP/Getty Images
This is Business Update from the BBC. The Greek parliament passes a vote on a third bailout package. Standard Bank of South Africa reports profit up 27%. And a Picasso painting found labelled as a $30 piece of handicraft is returned to France.
A series of massive explosions have rocked one of China's most vital ports. The chinese yuan as dropped for the third day in a row. And the world's largest tourism company has announced the financial cost of June's terrorist attack in Tunisia.
China's policy change has allowed its currency to slide for a second day. South Africa's rand hit its lowest level in fourteen years. And India is seeking damages from Nestle over contamination of it's Maggi brand noodles.
Greece has clinched a new bailout deal. China has devalued its currency to a record low. And doctors in Ghana are threatening to resign unless their pay demands are met.
Greek officials say the country could reach an agreement with it's international creditors in the coming hours, UN talks begin in Geneva to try to resolve the conflict in Libya, and international aid charity Oxfam announces record annual income. (Picture credit: Getty Images)
South Africa's largest mining union has warned 11,000 jobs could be cut by gold producers. The President of Mauritius has told the that BBC Africa needs to invest in educating science students. The closure of a border crossing has disrupted trade between Uganda and Democratic Republic of Congo. And we hear from Mozambique on the government's efforts to make it easier for entrepreneurs to start a small business.
President Obama has unveiled what he's described as the most important step America has ever taken to combat climate change
The American airline Delta becomes the latest carrier to ban animal 'trophies' on their flights.
And the island of Puerto Rico has defaulted on a debt payment for the first time.
(Picture: Obama unveils Clean Power Plan. Credit: EPA)
Shares crash more than 20 percent in Greece after trading resumes at the Athens Stock Exchange for the first time in weeks. The mining company Vedanta faces prosecution from villagers in Zambia, claiming toxic waste from copper production has polluted water supplies. South Africa's gold industry faces a strike after miners rejected an increased pay offer. And the chief executive of the beer brewing company Heineken tells the BBC why the firm recorded a rise in profits in all markets, except Africa.
British and French authorities will increase security around the Channel Tunnel to prevent thousands of migrants hiding in trucks. Zambia has delayed a plan to cut electricity supplies to the mining industry, amid fears of jobs cuts. And General Electric says foreign investors are encouraged by Angola's efforts to diversify its economy beyond reliance on the oil industry.
Facebook says half the world's Internet users are active on its Web site more than once a month. The figure is a 13% rise from a year ago. Meanwhile, wreckage washed up on the shore of Reunion island in the Indian Ocean may be that of missing Malaysian Airlines flight MH370. And South Africa's MTN mobile phone company drops sponsorship of the Tour de France racing team named after it.
Eurotunnel says a surge of illegal migrants tried to come through its tunnel.
Microsoft releases Windows 10.
And the poaching of a lion called Cecil may cost Zimbabwe millions of dollars.
President Obama says Africa must create jobs for young people. UK Prime Minister David Cameron vows to clamp down on money laundering in Britain through buying London property. And Chinese shares suffer further volatility.
President Barack Obama has arrived in Ethiopia with plans to boost American trade in East Africa and beef up regional security. The United Nations has called on South Sudan to allow goods to be transported on the River Nile. And shares in China have suffered their biggest daily drop in eight years. Russell Padmore presents Monday's edition of Business Update.
The first malaria vaccine has received the backing of European drugs regulators. President Obama is flying to Kenya on his first official visit to his father's home country. And the chief executive of Visa has attacked Fifa for not living up to the highest standards.
Greek MPs have voted overwhelmingly in favour of a package of reforms demanded by the country's international creditors. The agreement gives the green light to negotiations on a new international bailout, worth up to about $95bn. The talks, involving Greece and its creditors the European Union, the European Central Bank and the International Monetary Fund, are due to begin on Friday.
Also on the programme, a major palm oil company in Liberia is accused of exploiting the ebola crisis to increase business and a top US official explains why she is in Kenya to promote women entrepreneurs.
Shares in the technology giant Apple have fallen by nearly 7% despite it reporting record profits in the three months to the end of June. Also on the programme, the World Bank lends Nigeria more than $2bn and a top government official in Zimbabwe says investment is being hit by the laws on foreign ownership.
Toshiba's chief executive and president Hisao Tanaka resigns after the company said it had overstated its profits for the past six years. Plus, the BRICs New Development Bank launches in Shanghai and the gold price hits five year lows.