People & Profit: Recent Episodes
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The business show that goes beyond the numbers and the corporate jargon! Kate Moody breaks down major business stories and looks at how they affect our lives. Thursday at 4.45 pm Paris time.
Andy Burnham, the former mayor of Greater Manchester, is likely to be the next British prime minister following Keir Starmer's resignation. Central to Burnham's platform is improving living standards that have stagnated or even fallen since the 2008 global financial crisis. But with weak public finances, how realistic is his plan? FRANCE 24's Charles Pellegrin talks to Renaud Foucart, senior lecturer in economics at Lancaster University.
Space loomed large over the 2026 VivaTech festival. Startups and technology giants alike have entered the new space economy – a sector previously dominated by government agencies. FRANCE 24’s Business Editor Kate Moody sat down with Marta Oliveira, Co-founder and Chief Operations Officer at Atmos Space Cargo, to talk about reusable rockets, raising money in the private sector and international competition in the 21st century space race.
Can quantum computing change the way we solve problems? The emerging technology can tackle situations that are out of reach for classical computers, in industries including healthcare and finance. At the 10th annual VivaTech festival, Kate Moody visits IBM's Quantum System Two chandelier, and speaks to Jerry Chow, IBM's Chief Technology Officer for Quantum-Centric Supercomputing, about the real-life benefits, geopolitical pressure and next milestones.
What are the social and environmental costs of the race for critical minerals? Minerals like cobalt, lithium, and nickel are crucial for the development of new technology, including clean energy. But mining and refining them can be hugely polluting and water intensive – with a risk of deforestation, water contamination, and health problems for local communities. Studies suggest that about half of mining projects around the world are on or near indigenous lands.
The global pharmaceutical industry has found itself at the heart of geopolitical and trade tensions. The Trump administration has pushed policies to promote the sovereignty of US drugmakers, threatening tariffs on manufacturers or countries, and vowing to reduce prescription drug prices for Americans.
In the world of artificial intelligence, the focus used to be on training AI models. Now, increasingly, it's on "inference" – the actual execution of the tasks we ask these systems to perform. David Gurlé is a French tech entrepreneur whose startup Antimatter aims to service the inference boom with energy solutions, mini data centres that fit inside a container and appropriate software – for only a fraction of the cost and time.
Owning a home has long been a cornerstone of the American Dream, but is increasingly out of reach for many US workers. A report by the White House in April suggests the United States needs 10 million additional houses to meet demand. Meanwhile, the average price of new home sales has jumped over 30 percent in just five years, and rental prices in most major US cities have surged by around 40 percent.
The war with Iran has prompted many economies to reevaluate their energy needs and strategy. In Europe, several countries are considering reviving the use of nuclear power. Sweden, Belgium, and Italy are among those rolling back previous restrictions, while France and the UK are spearheading new nuclear projects.
A spate of high-profile stadium tours by stars like Céline Dion, Taylor Swift and Oasis have put a spotlight on the practice of dynamic ticket pricing, with many fans saying they're unable to secure or afford tickets. We take a closer look in this edition of People & Profit.
The US and Israel’s war with Iran has sent shockwaves across the global economy, and created the largest energy crisis in decades. But China, the world’s second-largest economy, has by many measures appeared insulated from the worst of the fallout.
Hungary is preparing for a new era, after the centre-right Tisza party of Peter Magyar won a landslide victory over longtime nationalist Prime Minister Viktor Orban. Magyar says he'll seek to repair Hungary's confrontational relationship with the European Union, something that could unlock much-needed EU funding for Ukraine and for Hungary itself. Many voters said the stagnating economy was a major factor in their decision to turn against 16 years of Orban's rule.
The US and Israel’s war with Iran has triggered one of the biggest global energy shocks in decades. Asian economies, in particular, are facing disruptions to oil and gas supplies, while energy prices have surged worldwide. Climate activists say the shock should serve as a catalyst in the switch to renewable energy sources.
Fertility treatments such as IVF are becoming increasingly common. But a study by UK-based organisation Fertility Matters at Work suggests that nearly two-thirds of respondents do not feel comfortable speaking to their employer about support during the process. Our guests, Becky Kearns – CEO and co-founder of Fertility Matters at Work – and Suzy Jackson, COO of RVO Health, say both employers and governments can help change that.
As tensions between the US, Israel and Iran choke the Strait of Hormuz, cutting global energy and fertiliser flows, markets face rising prices and food insecurity. We discuss the global fallout with Carlos Razo from the UN Conference on Trade and Development (UNCTAD), exploring the risks for the world's poorest economies and the threat of widespread inflation.
The spiralling conflict in Iran has highlighted the potential vulnerability of Gulf states when it comes to food and water security. Countries like Bahrain and Qatar depend heavily on desalinated water, and strikes on desalination plants have sparked concern about water supplies. Meanwhile, the usual flow of food imports through the Strait of Hormuz has been disrupted by the fighting.
The European Union is facing an “almost existential moment” as it seeks to weather global turmoil. That is the warning from Ireland’s Tánaiste and Minister for Finance, Simon Harris. He says the current conflict in the Middle East serves as “a stark reminder of how Europe must become much more energy independent and much more economically resilient."
What does the corporate workplace look like in 2026? Following the Covid-19 pandemic, many employers implemented flexible schedules, which allowed employees to work from home for some or all of their week. Many firms are now backtracking, saying that even a hybrid model is no longer suitable. Some of the major employers who are mandating a full or partial return to the office include tech giants, as well as financial firms. For more, we speak to Roger Philby, UK Head of Consulting at the management consulting firm Korn Ferry.
The automobile industry has been steering towards an electric future. In Europe, sales of both fully electric and hybrid cars have risen as costs drop and technology improves. Competition within the industry is fierce, and new players are challenging legacy carmakers.
In a changing global landscape, Europe's defence industry is being reshaped and revitalised. Over the past five years, EU member states have boosted their defence spending by 63 percent to reach €381 billion euros in 2025.
Artificial intelligence is the next frontier – but is it also the next bubble? That's the question investors have been asking since tech giants began investing billions of dollars in AI and driving stock market gains. We put the question to an expert.
Nearly 1.5 million kilometres of submarine cables criss-cross the globe. The infrastructure is key for both national security and economic stability. But an uptick in disruptions – notably in the Baltic Sea – has focused attention on the need to safeguard these networks. While many of the outages appear accidental, some can be attributed to sabotage by state-sponsored actors.
After a week of twists and turns, US President Donald Trump delivered a highly anticipated speech at the World Economic Forum in Davos on Wednesday. Earlier at Davos, French President Emmanuel Macron decried bullying on the global stage and Canadian Prime Minister Mark Carney warned that "the old order is not coming back". For analysis, FRANCE 24's Charles Pellegrin talks to Brett Bruen, president and CEO of the Global Situation Room, who is just back from Davos.
A qualified majority of EU countries have finally approved the EU-Mercosur trade agreement, over 25 years after talks between the two blocs started. Opposition is still fierce, especially from the European agricultural sector. Charles Pellegrin talks to Maria Concepcion Latorre, a professor of applied economics at Universidad Complutense in Madrid, who argues the benefits of the pact outweigh the disadvantages.
What's next for Venezuela, where a surprise attack saw US forces capture President Nicolas Maduro and his wife? Is getting control of the country's oil reserves the most important motivation for US President Donald Trump? Charles Pellegrin talks to David Goldwyn, president of Goldwyn Global Strategies and former US State Department special envoy and coordinator for international energy affairs from 2009 to 2011.
This week, we take you to Vivatech in Paris. The event bills itself as the biggest tech and startup event in Europe. The tech industry is the driving force for growth in the world economy, but Europe only represents a small share of it. Is Europe lagging behind in the race for artificial intelligence? Why are there no tech giants the size of Google or Apple on the continent? Our Business Editor Charles Pellegrin meets with French and German startups, as well as with Estonian Energy and Environment Minister Andres Sutt, who was previously the country's minister for entrepreneurship and innovation.
Gender equality remains a challenge across the globe and particularly in Africa. Despite progress, women continue to face persistent barriers on the continent: limited access to education, inequalities in healthcare, difficulties in obtaining financing and underrepresentation in decision-making positions. To help change that, former French Minister Élisabeth Moreno co-founded ADWIN alongside George-Axelle Broussillon Matschinga and Prescillia Avenel Delpha. It's an international network dedicated to the promotion and empowerment of African and Afro-descendant women through training, mentorship, financing, and well-being. Moreno spoke to us in People & Profit.
US President Donald Trump's threat to drag the movie world into his trade wars has rattled an industry that is still recovering from the Covid-19 shutdown, historic Hollywood strikes and the disruption caused by streaming platforms like Netflix. Will Los Angeles end up like Detroit, the former global capital of the auto industry, or will it bounce back from this crisis? Charles Pellegrin discusses this and more with Serge Siritzky, a French film producer as well as an expert in film finance; and Stuart Nash, founder of Nash Kelly Global and former New Zealand minister for economic development. While in office he oversaw over $650 million in film subsidies to attract huge Hollywood productions such as "Avatar" or "A Minecraft Movie".
Crippled by international sanctions, and decades of mismanagement and corruption, the Iranian economy has gone through what’s been described as a lost decade of economic growth. As the national currency plummets and purchasing power declines, ordinary Iranians are struggling to make ends meet and experience regular power outages. Could the recent nuclear talks between Teheran and Washington eventually lead to a new agreement? FRANCE 24’s Charles Pellegrin speaks to Vali Nasr, Professor of International Affairs and Middle East Studies at Johns Hopkins University’s School of Advanced International Studies. He is also the author of “Iran’s Grand Strategy: A political history” published by Princeton University Press.
Global tourism has fully recovered from the Covid-19 pandemic, but dark clouds are still hanging over the industry. High transport and accommodation costs, geopolitical instability and the increasing likelihood of extreme weather events are among the key challenges the sector is facing. FRANCE 24's Charles Pellegrin speaks to Shaikha Al Nowais. She's a travel executive with decades of experience working at the UAE-based Rotana Group and is also a candidate for the role of UN World Tourism Organization Secretary General.
Europe’s largest economy finally has a leader. Conservative Friedrich Merz was elected as German chancellor on Tuesday, but only after a second round of voting in the Bundestag. The unprecedented failure in the first round has raised doubts about the new government's ability to revive a flagging economy through reforms. Germany’s industrial base, once the backbone of its economy, is eroding. What needs to be done for the country to bounce back? FRANCE 24's Yuka Royer talks to Frederik Lange, senior manager for research of industrial and economic policy at the Federation of German Industries.
As the US and the world mark Donald Trump's 100 days in office, we look at what the milestone means for business. The US president ran in large part on a pledge to "Make America Wealthy Again", promising that his tariffs – a vestige of the 19th century, for most economists – would return manufacturing jobs to America and trigger a stock market boom. Can this strategy work? Or is it hurting both the US and the global economy? FRANCE 24's Charles Pellegrin speaks to Isabel Guzman, the founder of Avenida Advisors and a former administrator of the Small Businesses Administration during the Biden presidency. She also chairs the Global Risk Advisory Council, which maps out and assesses reputational risks for companies and organisations.
Countries that once followed the gospel of free trade and liberalism are changing tack and focusing on national interests before anything else, with Donald Trump’s America being a case in point. Our business editor Charles Pellegrin takes a deep dive into how geopolitics is reshaping the global economy with David Baverez. He's a French investor based in Hong Kong and author of the book "Bienvenue en économie de guerre" or "Welcome to the wartime economy", published in French by Novice.
The Baltic nation of Estonia has been calling for a significant boost in EU defence spending for years and is now seeing that call heeded. Sharing a 300-kilometre border with Russia, Estonia would be on the front lines in case of an invasion. Tallinn has committed to bump up the country's defence spending to 5 percent of GDP by next year – well above the current NATO commitment of 2 percent. For more, FRANCE 24's Charles Pellegrin speaks to Estonian Foreign Affairs Minister Margus Tsahkna.
From food delivery and ride-hailing apps to handywork and domestic services, millions of people around the globe work within the so-called gig economy – a term applied to independent contractors or freelancers, usually on digital apps. While the flexibility offered by online gig platforms can be attractive, it comes at the cost of limited job security, lack of social protection and sometimes exploitation. But gig workers are getting organised with protests and even some advances. To better understand the plight of these workers, Charles Pellegrin talks to Jamie Woodcock, a senior lecturer in digital economy at King's College London and author of "The Fight Against Platform Capitalism: An Inquiry into the Global Struggles of the Gig Economy".
The fight against malnutrition, the world's leading cause of infant mortality, was chronically underfunded even before the US halted its funding for humanitarian aid and development. As Paris hosts the Nutrition for Growth summit this week, we look at how healthy eating isn't just a developmental issue but also an economic one. Every dollar invested in nutrition generates a return of 23 dollars, while malnutrition can cost up to tens of billions of dollars to the economy. So why is hunger and malnutrition still an issue today and how do we generate the political will to fix this problem? Charles Pellegrin talks to Joel Spicer, president and CEO of Nutrition International and Cleo Kawawaki of the Asian Development Bank.
The Organisation for Economic Cooperation and Development (OECD) has released its Global Debt Report for 2025, and the conclusion is that the world is practically drowning in debt at record levels. As European nations pledge to boost their defence spending in the face of a new transatlantic security reality, and as burgeoning trade wars threaten to raise prices faster, are countries able to achieve growth while keeping borrowing in check? FRANCE 24's Yuka Royer speaks to Carmine Di Noia, the OECD's Director for Financial and Enterprise Affairs.
Since it invaded Ukraine in February 2022, Russia's economy has proved to be robust despite sanctions, inflation and labour shortages. But how long can it last? Charles Pellegrin takes a deep dive with his guest Richard Connolly, associate fellow and specialist on the Russian economy at the Royal United Services Institute (RUSI) in the UK. He is also the author of a commentary titled “Russia’s Wartime Economy isn’t as Weak as it Looks”.
Why does Donald Trump appear so determined to impose tariffs? Is it about raising revenue and bringing back jobs? Is it about leverage? To help us sort through what could be a complete overhaul of US and global trade policy of the past 75 years, Charles Pellegrin speaks to Greta Peisch, partner in international trade practice at law firm Wiley Rein and former general counsel at the office of the US Trade representative during the Joe Biden administration.
Online scamming has reached global proportions, with an estimated 200,000 people forced to execute lucrative scams in Myanmar and Cambodia alone. This week's show delves into a criminal activity that's grown into a $500 billion per year industry that now rivals the illegal drug trade in size. Charles Pellegrin speaks to Sue-Lin Wong, The Economist’s Southeast Asia correspondent and creator of an eight-part podcast investigation into the scamming industry entitled "Scam Inc".
The economy is a top concern for voters in Germany as they go to the polls on Sunday to elect a new government. The country has seen two consecutive years of economic contraction and this stagnation could very well continue for a third year. Its post-Covid recovery was completely stunted by Russia's full-scale invasion of Ukraine and the energy crisis that followed, laying bare Berlin's deep dependence on Moscow's oil and gas. Now the return of Donald Trump as US president is further muddying the prospects for growth. To better understand how Germany got here and how it can dig itself out of this hole, Charles Pellegrin talks to Shahin Vallée, senior research fellow at the German Council on Foreign Relations.
After the Paris AI Action Summit wrapped up earlier this week, we look at the future of AI governance and its impact on the global economy. In a bid to make up for lost time, Europe and France have pledged significant boosts in artificial intelligence investments and promised to keep regulations from stifling innovation. FRANCE 24's Charles Pellegrin speaks to Sasha Rubel, European head of generative AI policy at Amazon Web Services, and Alexandre Zapolsky, the president and co-founder of Linagora, a French open-source software editor and creator of the Lucie chatbot, which has made quite a few headlines in the past few weeks.
Political leaders, tech executives, scientists and experts are gathering to Paris to discuss the future of artificial intelligence. Summit host France dreams of becoming a leader in the disruptive technology. Back in 2018, President Emmanuel Macron launched a national strategy to mobilize €2.5 billion in public and private funds to develop homegrown applications. But competition is fierce, and the US and China have a particularly strong lead over European firms. FRANCE 24's Charles Pellegrin talks to France's special envoy for the AI Action Summit, Anne Bouverot. In addition to being mandated with organising this event, she also presides over France's commission on artificial intelligence and has had a long career as a tech executive and researcher.
In this special edition from the World Economic Forum in Davos, Switzerland, Charles Pellegrin sits down with Nigeria's Industry, Trade and Investment Minister Jumoke Oduwole. They discuss the return of Donald Trump as US president and how his policies might impact the oil-rich African country, as well as the challenges of diversifying the economy and attracting investors. Following a change in administration in May 2023, Nigeria has been pursuing bold economic reforms but inflation still remains high. Will 2025 will bring the "renewed hope" promised by Bola Tinubu's administration?
This week we're in Davos, Switzerland for the World Economic Forum, where global leaders from the world of politics, business and academia get together and assess the obstacles facing the global economy in the upcoming year. This year, all eyes are on US President Donald Trump. How will his policies impact the world in 2025? Charles Pellegrin talks to Eurasia Group President Ian Bremmer, who publishes a global risk report each year.
In the middle of Dry January, many people are trying to keep the festive cheer alive, all while staying sober. No- and low-alcoholic beverages are increasingly popular and the industry's biggest players are scrambling to find ways to profit from the trend. But how long will the buzz last? In this edition of People & Profit, FRANCE 24's Charles Pellegrin talks to two entrepreneurs from the sector. Jonathan Dubois is the founder of Goxoa, a French zero-alcohol beer brand specifically marketed towards athletes and the winner of the gold medal for the best non-alcoholic beer at the European Beer Challenge. Also joining us is Paul Mathew, the founder of Everleaf Drinks, a British company that produces sustainably sourced non-alcoholic aperitifs.
The re-election of Donald Trump as US president has generated a climate of uncertainty over US economic policy for 2025, with Trump and his team vowing to increase tariffs on most imported goods. How will Trump's return impact the global economy? From the United States to China by way of Europe, we take a comprehensive look at what global trade, growth and innovation are likely to look like and what all of that could mean for the climate. Our guest is Raphaël Gallardo, chief economist at Carmignac.
The mining industry plays a key role in the world’s energy transition, providing the critical minerals and metals needed for new, green technology. It’s also facing pressure to reduce its own carbon footprint, and protect the communities affected by its mining activity around the world. Mike Henry, chief executive officer of BHP, says the world’s largest mining company is on the frontline of those changes, increasing output while focusing on sustainability. “It’s fundamental to the BHP strategy (…) The world needs a lot more of other metals and minerals as well. If we’re to do that in a way that doesn’t have negative consequences for other aspects of environmental stewardship, we have to be setting and upholding high standards.”
Artificial intelligence could transform the future of sound. The market for generative AI in the music industry is taking off, with both huge opportunities and substantial risks for creative professions. A study by Goldmedia consulting and research group found that music creators could lose up to 27 percent of their revenue by 2028 as a direct result. Klaus Goldhammer, Managing Director of Goldmedia, says artists are calling for regulations to protect their jobs.
Nations have gathered in Azerbaijan for COP29, under the shadow cast by the re-election of climate change denier Donald Trump, who has pledged to row back on the United States' carbon-cutting commitments. As the planet logs its hottest year on record, Charles Pellegrin and his guests discuss how the second Trump administration will impact the fight against global warming.
Ahead of the November 5 US presidential election, both Vice President Kamala Harris and former president Donald Trump have been courting union support. Some 14 million American voters are union members, and they could prove to be a deciding force in several battleground states. We take a closer look in this edition of People & Profit.
As the International Monetary Fund and World Bank mark 80 years since their founding, how can they stay relevant and effective? During the annual fall meeting in Washington, World Bank Senior Managing Director Axel van Trotsenburg told FRANCE 24 that reforms are underway, but need to happen more quickly.
Just how sustainable is your happy hour? The beverage industry is among those facing pressure to mitigate its impact on the environment. In 2021, it accounted for 3.8 percent of global carbon emissions. We take a closer look in this edition of People & Profit.
Can European industry regain its competitive edge on the global stage? A new EU report penned by former ECB chief Mario Draghi highlights a growing gap in both productivity and innovation, and warns that businesses will face an "existential challenge" without drastic change and significant investment. Tim Figures, a partner and associate director at the Boston Consulting Group, believes the proposals "turn challenges into opportunities for growth and improved productivity in the European economy". He spoke to FRANCE 24's Kate Moody.
The French government plans to subject the budget to a €60 billion belt-tightening drive next year in the hope of bringing the deficit down to 5 percent of GDP from an estimated more than 6 percent this year. Two-thirds of that sum are to come from spending cuts, and the rest from new taxes. Why does the country find itself in this fiscal hole? How will this new budget impact the country's economy? FRANCE 24's Charles Pellegrin talks to OFCE Economist François Geerolf.
This week we look at ethical fashion in the age of "direct-to-consumer" giants like China's Shein and Temu. Thanks to their business model based on ultra-fast design and production, consumers can purchase a new look at incredibly low prices. But at what cost for the environment and worker wellbeing? Charles Pellegrin talks to Kamila Boudova, a Paris-based slow fashion coach who helps her clients create ethical wardrobes. They discuss the challenges of wearing ethical clothes in an age of ultra-fast fashion.
In this week's show we shine the spotlight on France’s "banlieues": the low-income neighbourhoods that are on the periphery of the country’s largest cities. On September 17th and 18th, the first ever “banlieue economic forum” took place in Paris – providing an opportunity for the businesses, associations and politicians of these suburbs to brainstorm on the best ways to stimulate local economic growth.
The athletes have crossed the finish line of the Paris Olympic and Paralympic Games. Now economists are trying their best to accurately assess the economic impact of this global event on the city and on France. Our guest, Wladimir Andreff, is one of them. He is a specialist of sports economics and a professor emeritus at the university of Paris Panthéon-Sorbonne.
As the representatives of over 50 African countries meet this week in Beijing for the Forum on China-Africa Cooperation or FOCAC, Charles Pellegrin and his guests take a closer look at the relationship between China and Africa and what it means in terms of opportunities for economic growth and development as well as the potential risks and limitations.
After a summer of Olympic fever, it's back to business in France. But uncertainty dominates after snap elections earlier this summer returned a hung parliament. As suspense continues over who will be the country's next prime minister, France's largest employer federation, Medef, held its annual conference on the theme of ''power''. So after seven years of pro-business policies, what's next for France's business community? FRANCE 24's Yuka Royer talks to Medef's Vice President Fabrice Le Saché and asks business leaders what their top concerns are.
In today’s episode, we explore the resurgence of the post-pandemic global tourism industry. We discuss the impact of Covid-19, changes in air connectivity, the effects of global conflicts, and the rise of over tourism. Featuring insights from Anita Mendiratta, we also delve into the latest trend of tourists choosing cooler climates due to climate change. Join us for an in-depth look at the drivers and challenges facing tourism today.
While the tech world has been flying high on a wave of optimism over all the potential applications of AI, booming demand for the technology is increasingly straining energy resources. One simple search on ChatGPT consumes almost 10 times more electricity than one on Google. Charles Pellegrin speaks to Mary de Wisocky, Senior Vice President and Chief Sustainability Officer at Cisco, a major US-based company that provides data centre products and services.
Scene on Radio, the Peabody-nominated podcast series produced by The Kenan Institute for Ethics at Duke University, has dedicated its latest season to exploring the history, failures and future of capitalism over the course of 13 episodes. John Biewen, co-host of the podcast, joins us from North Carolina for a big picture conversation about the system that governs the lives of a large chunk of humanity.
In the run-up to the UK's general election on July 4, the state of the country's National Health Service (NHS) is a key campaign theme. Satisfaction with the NHS is at its lowest in 40 years and the same is true of social care. Both the ruling Conservatives and the opposition Labour Party are promising to increase funding for the NHS. One business-led social organisation in the UK, Business for Health, advocates for stronger investments in preventative health, especially in the workplace. This could end up reducing the stress on the NHS. Charles Pellegrin speaks to its founder and CEO, Tina Woods.
It's a common and accepted trope that free trade has led to more prosperity. Yet free trade, and another word that often accompanies it – globalisation – are frequent targets of criticism, with both seen as eroding national sovereignty, taking away local jobs and harming the environment. Charles Pellegrin talks to James W.H. Denton, the secretary general of the International Chamber of Commerce, the world's largest business organisation, whose purpose is to fight for a business-friendly environment around the globe.
A cloud of uncertainty is hovering over Europe this June in the wake of the European elections. In France, the National Rally party of Marine Le Pen dominated the polls to such an extent that President Emmanuel Macron immediately dissolved parliament and called for new elections. The possibility of seeing the far right take power in the country has led to turmoil in the markets. To better understand the economic impact of such a scenario, as well as its likelihood, we speak to Maria Demertzis, a senior fellow at Bruegel, a Brussels-based think tank that specialises in European policy.
As a result of the war in Ukraine, millions of Ukrainian children have been scattered around Europe. These young refugees have seen their education heavily disrupted, with only between 30 and 50 percent of them enrolled in schools in their host countries. NGOs such as Junior Achievement (JA) Europe and UNICEF have teamed up to help offer 1.9 million hours of training and education over the course of the last year across 14 countries. Charles Pellegrin talks to Salvatore Nigro, the CEO of JA Europe.
As decided by EU member states and the European Parliament, sales of internal combustion engine cars will be banned in the bloc by 2035, thereby forcing a transition to electric vehicles. How will Europe's car manufacturers manage this major change? FRANCE 24's Charles Pellegrin puts the question to Julia Poliscanova, senior director in charge of vehicles and e-mobility at the European Federation for Transport and Environment.
This week, we bring you a special edition of People & Profit from VivaTech, France's major tech event. Charles Pellegrin asks Beatriz Sanz Saiz, global consulting data and AI leader at EY, how artificial intelligence could bring more equality. He also meets Olivier Oullier, whose company Inclusive Brains has developed tech that could be a game changer for people with disabilities. And Peter O'Brien reports from the halls of VivaTech to find out what the rise of AI will mean for climate tech.
Rudimentary heating systems, often fuelled by wood fire, coal and animal manure, are used by a large majority of households in Africa. Delegates from over 60 countries gathered in Paris for a summit held by the IEA to help tackle this issue. Charles Pellegrin asks Jillene Connors Belopolsky, who is the chief of staff and chief external affairs officer at the Clean Cooking Alliance, what can be done to make clean cooking options more affordable and available.
Taylor Swift's Eras Tour is continuing its planetary takeover, kicking off its European leg this week in France. Since her first concerts in March 2023 in the US, the pop star has been credited with boosting the national GDPs of the United States, Singapore and Australia. For a deeper look at the business phenomenon that is Taylor Swift, FRANCE 24's Charles Pellegrin speaks with former music business executive, Professor Linda Bloss-Baum. She is the assistant director of the business and entertainment programme at American University's Kogod School of Business.
With less than 100 days to go until the Paris 2024 Olympics, we’re looking into whether or not they will be a healthy investment for Paris and France as a whole. Will the Games boost the French economy? Or will the costs outweigh the benefits? FRANCE 24's Charles Pellegrin discusses this and more with Christophe Lepetit from the Centre de Droit et d'Economie du Sport, a French research institute specialised in the economics of sport.
India has kicked off its marathon elections, with nearly a billion people eligible to cast ballots. High on voters' minds will be issues relating to the country's economy. How has the world's most populous nation and fifth-biggest economy fared since the 2014 elections that brought Prime Minister Narendra Modi and his Hindu nationalist BJP to power? Have the lives of India's people materially improved? We take a closer look in this special edition.
What does 22 years of data tell us about the nature of the economic relationship between Beijing and the African continent? FRANCE 24's Charles Pellegrin talks to Oyintarelado Moses, lead author of a report from Boston University's Global Development Policy Center and the African Economic Research Consortium.
The European Central Bank is making plans for a digital currency, an electronic equivalent to cash. FRANCE 24's Charles Pellegrin speaks to Positive Money Europe's Executive Director Vicky Van Eyck, who says the digital euro could make the financial system fairer, but fears that privately-owned commercial banks are undermining the new currency's potential.
TikTok is once again in the crosshairs of the US administration, after the House of Representatives voted in favour of a bill that would force its Chinese owner ByteDance to divest itself of the social media platform or see it banned in the US. Charles Pellegrin asks journalist Océane Herrero, who's written a book on TikTok, what it would mean for the future of the video-sharing app if the bill were signed into law.
Geologists around the world are calling it the "new gold rush". We ask why companies are rushing to capitalise on white or natural hydrogen, with our guest Minh Khoi Le. He is the head of hydrogen research at business intelligence company Rystad Energy. According to the firm, 40 companies were searching for this "white gold" across the globe at the end of 2023, including in the US, Canada, France, Albania, South Korea and Colombia. Back in 2020, only 10 companies were involved.
The collapse of the Rana Plaza garment factory in Bangladesh 11 years ago revealed the poor working conditions endured by people serving the global fast fashion industry. What were the lessons learned and has consumer and corporate behaviour changed since then? With EU countries still divided over key new legislation on supply chain due diligence, we discuss what it would mean for companies and consumers with Abbie Morris, co-founder and CEO of Compare Ethics.
What do Austria, Sweden, Switzerland and Taiwan all have in common? For economist Neil Lee, it’s their ability to share the benefits of innovation equally across society. Charles Pellegrin discusses Lee's latest book “Innovation for the masses”.
In its Global Economic Prospects report, the World Bank reaches the conclusion that we are in a "decade of wasted opportunity", where instead of being on track to reach key development and climate goals by 2030, we have seen the slowest half-decade of growth in 30 years. This is having devastating consequences, especially in developing and low-income economies. For more, FRANCE 24's Charles Pellegrin speaks to the World Bank's Deputy Chief Economist Ayhan Kose.
Israel's offensive in Gaza following the October 7 Hamas attacks is reverberating in the West Bank. While not directly involved in the conflict, the Palestinian territory's economy lies in tatters, in part because Israel revoked work permits for 130,000 Palestinians in the West Bank. We speak to a Palestinian entrepreneur about the broader challenges of running a business in the territory, including checkpoints, Israeli occupation and blocked financial flows. Amal Daraghmeh Masri is CEO and editor-in-chief of Middle East Business News and of Ougarit group, based in Ramallah.
From Paris to Berlin, from Warsaw to Brussels, this week farmers stepped up their protests against the European Green Deal and hikes in diesel taxes, all against a backdrop of inflation, climate change and competition from Ukrainian imports. Tractors have been blocking highways and sending a message to governments as well as the public: "the people who feed you are having trouble feeding themselves". We speak to a cereal grower about the agricultural sector's challenges and the reasons behind the protests.
This week we bring you two conversations from the World Economic Forum in Davos. The rise of artificial intelligence and the green transition are two of the most pressing issues of our day. We see how these two seemingly distinct topics overlap with Georges-Olivier Reymond, CEO of French supercomputer maker Pasqal and Olivier Blum, Schneider Electric's executive vice president.
This week, we bring you a special edition of People & Profit from the snowy Swiss resort of Davos as it hosts the annual World Economic Forum. Where will the global economy land in 2024 amid a spike in geopolitical tensions and a growing risk of fragmentation? We speak with Gita Gopinath, First Deputy Managing Director of the International Monetary Fund (IMF).
The world is entering the "Voldemort of years", according to political risk consultancy Eurasia Group. In its annual report released this week, "Top Risks for 2024," it says the US presidential election will pose the greatest political risk to the world in 2024, no matter who wins. The Eurasia Group ranked the violence in the Middle East as the second-greatest global risk this year, followed by Ukraine. Ian Bremmer is president and founder of Eurasia Group and GZERO Media. He discussed the top risks in greater detail with FRANCE 24's Yuka Royer.
2023 has been a tough year for the global diamond industry. After a boom during the pandemic, prices of the precious stone have dropped significantly amid oversupply, higher interest rates and increasing competition from lab-grown gems. And starting on New Year's Day, EU members will no longer be allowed to buy diamonds that come directly from Russia, unless the stones are intended for industrial purposes. FRANCE 24's Yuka Royer asks industry analyst Paul Zimnisky how much impact these sanctions could have.
With Christmas just around the corner, we take a closer look at what's driving trends this holiday season. Corks will be popping, but maybe not as many as in the past few years. We discuss the state of France's champagne sector with Faustine Konrat, a small champagne producer in the region.
Is the Spotify model a successful one? The streaming platform launched in 2008 is the leader in its field, on par with what radio and CDs used to represent in the sense that it's become the most convenient way for people to consume music and other audio content. We discuss this and the growing business of investing in music royalties with Marzio Schena, the CEO of Europe's biggest music investment platform, ANote. We finish by looking at the Taylor Swift phenomenon. The pop star, who has been named Time Magazine's Person of the Year, has built a billion-dollar empire and is credited with having boosted the US economy in 2023.
Will a sense of urgency prevail at COP28? The climate talks in the United Arab Emirates will once again bring to the fore the challenges of financing the world's move to sustainable development. The vice president of the Asian Infrastructure Investment Bank (AIIB), Sir Danny Alexander, joins us from Dubai to give us his take.
With Black Friday sales kicking off on November 24, we take a closer look at the retail sector, from the rise of live-streaming e-commerce to the environmental toll of consumerism and the "Green Friday" movements that are trying to change our consumption habits.
As Argentina gets ready to vote for a new president, over 40 percent of its population live under the poverty line as their budgets are squeezed by triple digit inflation. The two candidates running for president – far-right libertarian outsider Javier Milei and ruling Peronist economy minister Sergio Massa – are offering radically different solutions. How did the country end up in an extreme inflationary spiral? We speak to Vera Chiodi, associate professor at Sorbonne University (Institut des hautes études de l' Amérique latine).
Elon Musk's generative AI venture, xAI, has launched Grok, its rival to ChatGPT. The billionaire is hoping to capitalise on the artificial intelligence revolution. While the private sector races to profit from AI innovation, governments are scrambling to keep up, vowing to protect humanity from potential catastrophe. So what might AI regulation look like? We discuss the issue with French tech entrepreneur Denis Jacquet, founder and CEO of Top Cream.
In the wake of major document leaks and studies showing how wealthy individuals and multinational corporations avoid taxation, governments around the world are seeking to crack down. But are the measures being put in place truly effective? Bryan Quinn speaks to Panayiotis Nicolaides, one of the authors of the EU Tax Observatory's latest report on global tax evasion.
When bombs are falling, arms industry profits are rising. As war rages in Gaza, we look at how the defence sector is both benefiting from the violence and struggling to keep up. Even before the latest flare-up, global defence spending was rising to Cold War levels – largely due to the war in Ukraine, but also due to a perceived threat from China's growing military prowess. In 2022, military outlays rose for the eighth straight year, hitting $2.24 trillion.
Thousands of lives have been lost on both sides in the ongoing war between Israel and Hamas. The 2 million residents of the Gaza Strip are now going through one of their worst humanitarian crises, forced to find shelter from Israeli air strikes within a densely packed territory that's under siege. In this show, we look at the economic impact of the war between Israel and Hamas, how it could devastate local economies and its potential impact on the global economy. We're joined by Bassem Snaije, an associate professor at Sciences Po Paris.
As developing economies need more financial support to deal with climate change, we look at the crucial role the private sector can play in the green transition. The head of the International Finance Corporation, Makhtar Diop, joins us from Marrakech to share his insights on the role the private sector has to play in development and climate change resilience.
As carmakers transition away from the internal combustion engine towards electric vehicles, we take a look at how the switch is reshaping global supply chains, trade route and geopolitics. We talk to Henry Sanderson, author of "Volt Rush: The Winners and Losers in the Race to Go Green". He is also the Executive Editor at Benchmark Mineral Intelligence.
This week we're at the 2023 annual MEDEF meeting, where the largest employers' federation in France gets leaders of the country's business community together to discuss the opportunities and challenges that lie ahead – one of them being the transition to a green economy. A world leader when it comes to waste treatment and solutions is French group Veolia. Its CEO Estelle Brachlianoff told FRANCE 24's Charles Pellegrin about the solutions that waste can provide when it comes to energy.
In a post-Covid era where music lovers have less disposable income and organisers face higher costs, we discuss what music festivals can do to survive. We're joined by John Rostron, CEO of the Association of Independent Festivals in the UK.
As football clubs form their teams for next season, more and more of them are turning to a digital marketplace to see which players they could sign on. Charles Pellegrin talks to Frederik Broholt, commercial vice president of TransferRoom. Also, we take a look at the historic deal that reduces Ecuador’s debt burden and guarantees better protection of the Galapagos ecosystem.
As the aviation industry gathers at the Paris Air Show, aircraft manufacturers are cautiously optimistic. Demand for international travel is growing, although inflation and supply chain issues still dampen the mood. In this special edition of People & Profit from Le Bourget, FRANCE 24's Charles Pellegrin talks to Boeing's senior VP Brendan Nelson about the industry's rebound.
Global tech leaders and industry giants have descended on the French capital for the seventh edition of VivaTech, Europe's largest trade fair for new technology. Artificial intelligence (AI) is taking centre stage this year. French President Emmanuel Macron announced €500 million ($543 million) in new funding to "create champions" in AI and praised projects targeting French speakers, as concern grows about Silicon Valley firms fuelling English-language domination of AI systems.
In the wake of an energy crisis triggered by Russia’s war in Ukraine, the world has become a lot more energy efficient, according to a new study. Are we seeing a permanent, global shift in energy transition? Yuka Royer speaks with Fatih Birol, the head of the International Energy Agency.
South Africa's economy is at risk of going off the grid as recurring power cuts wreak havoc on the country's businesses and households. Alongside this energy crisis, the nation's central bank is sounding the alarm over potential threats to financial stability. These concerns stem from capital outflows and the possibility of sanctions due to South Africa's stance on Russia's invasion of Ukraine. Joining us from Johannesburg is Azar Jammine, the Director and Chief Economist of Econometrix (Pty) Ltd, the leading independent economic research consultancy in the country.
The leaders of the ChatGPT developer OpenAI have called for the regulation of "superintelligent" AIs, arguing that an equivalent to the International Atomic Energy Agency is needed to guard against the "existential risk" posed by the technology. What should regulators around the world do to control the expansion of AI technology while still encouraging innovation? Charles Pellegrin asks Dr Tim Scarfe, Innovation Chief Technology Officer of British start-up XRAI Glass, which uses generative AI in a mobile app and augmented reality smart glasses to help deaf or hard-of-hearing people transcribe conversations.
Progress has been made, but there's still a long way to go in achieving gender equality in the workplace. Women continue to be under-represented in leadership positions and are still earning less than their male counterparts. Yet studies show that diversity and inclusiveness bring more profits to businesses. For more, Yuka Royer speaks to Canadian businesswoman Caroline Codsi. She is the founder and chief equity officer of Women in Governance, an organisation set up to help women access decision-making roles.
Inflation is finally cooling in the US. But has the Federal Reserve really reached the end of its rate hikes? And what does that mean for other central banks? We speak to Susannah Streeter, Head of Money and Markets at Hargreaves Lansdown. She says the Federal Reserve is widely expected to pause its cycle of interest rate hikes, but that many households and businesses are still feeling the pinch of the cost-of-living crisis. "Even though inflation is coming down, it doesn't mean to say that prices are dropping – they're just increasing at a slower rate."
For decades, the US dollar has been king on the global stage. But more and more countries are looking to reduce their dependence on the American currency, saying they want to "de-dollarize" their economies. How realistic are their plans, and how would they work? Kate Moody talks to Ruchir Sharma, chairman of Rockefeller International and founder of Breakout Capital.
Russian forces continue to wage war across Ukraine, but Volodymyr Zelensky's government is already looking ahead to the task of rebuilding. The European Commission and World Bank predict that this could come with a price tag of some $350 billion. The UN recently estimated that some $10 billion worth of damage has been done to Ukraine’s energy infrastructure alone. For more, we speak to Oleksandr Gryban, Ukraine’s deputy minister of the economy.
The World Bank and International Monetary Fund's Spring Meetings kicked off this week with concerns over high inflation, rising geopolitical tensions, climate change and financial instability. World Bank Senior Managing Director Axel van Trotsenburg told FRANCE 24 that "we need to stay engaged with developing countries. More than ever, problems that are getting worse in certain parts of the developing world will have spillover effects and that is also not good for richer countries".
More than a year after Russia's full-scale invasion of Ukraine, changes in global trading flows have transformed the world economy. Western sanctions against Moscow have forced Russia to rely on different partners – China and India in particular. To help us make sense of these developments and what they mean, we speak to Ali Wyne, a senior analyst at the Eurasia Group.
They may rule the online universe, but how are influencers being regulated in the real world? And what's next for their business models? Kate Moody talks to Quentin Bordage, Founder and CEO of Kolsquare, an influencer marketing platform in France.
What will it cost to transition the global economy to net zero? We take a look at how much money should be spent and where, in order to mitigate global warming. Charles Pellegrin speaks to Lord Adair Turner, Chair of the Energy Transitions Commission, a global coalition of leaders from across the energy landscape.
Is America facing a banking crisis? As regulators try to stem the fallout from the collapse of Silicon Valley and Signature Banks, we look at the risks for the rest of the system. Kate Moody speaks to economist Nicolas Veron from the Peterson Institute for International Economics and the European think tank Bruegel.
The 2023 edition of International Women's Day has highlighted digital inequality, but also how innovation and technology can empower women and girls, and contribute to economic growth. In France, the number of female entrepreneurs in the tech sector is increasing, but they still lag behind their male counterparts. For more, Kate Moody is joined by Delphine Remy-Boutang, the founder of JFD – Journée de la Femme Digitale, or Digital Women's Day.
In this show we address the issue of food security in Africa and ways to strengthen it moving forward, whether that's in the face of geopolitical events like the war in Ukraine or climate change. Charles Pellegrin talks to Sergio Pimenta, Regional Vice President for Africa at the International Finance Corporation (IFC), which is part of the World Bank Group. He says "Africa remains a net importer of food" and that despite having "a large amount of arable lands, production remains very challenging".
On February 24, 2022, Russian troops invaded Ukraine. Despite some predictions of a short conflict, the violence has dragged on for a year. Hundreds of thousands of people have been killed or wounded – both civilians and soldiers – and millions have been displaced, while many Ukrainian cities and their infrastructure have been levelled. In this show, we look at the price of rebuilding Ukraine and the impact on its neighbours with Beata Javorcik, Chief Economist at the European Bank for Reconstruction and Development (EBRD).
Is the EU’s clean tech plan enough to keep up with America's green subsidies, outlined in the US Inflation Reduction Act? Kate Moody speaks to Gwenaëlle Avice-Huet, chief strategy and sustainability officer at Schneider Electric - a French multinational firm that specialises in digital automation and energy management.
The wave of mass layoffs continues to shake tech companies, from global giants to startups. With growing demand from consumers stuck at home and online, the tech sector went on a hiring spree during the pandemic. But since last year, as inflation rose and profits slowed, hundreds of thousands of workers have lost their jobs. FRANCE 24's Charles Pellegrin tells us what's behind the job cuts.
As many as 2.8 million people hit the streets across France on Tuesday in a second day of walkouts designed to protest the latest pension reform proposals. Perhaps the most controversial element of the government's reform would raise the retirement age from 62 to 64. It would also increase from 42 to 43 the number of years that workers must pay into the system to receive a full pension. We explore what's at stake with economist François Geerolf.
Is the luxury sector recession-proof? Sales at high-end brands plunged at the start of the Covid-19 pandemic, but they've since rebounded sharply, even as inflation soars and economic growth slows. Now many fashion houses are hoping that China's reopening will be another boost to their business. Our Business Editor Kate Moody sat down with Rachid Mohamed Rachid, chairman of the investment group behind brands like Valentino and Balmain, on the sidelines of the World Economic Forum in Davos.
The energy and cost of living crises were on top of the agenda at this year's World Economic Forum in Davos. Has the rush to cut off Russian fossil fuels helped or hindered European efforts to transition to green energy? We speak to Anders Opedal, the head of Norwegian energy company Equinor, as well as France's Minister of State for European Affairs, Laurence Boone.
2022 was a tumultuous year for crypto. One company fell after another, culminating with the spectacular collapse of the FTX cryptocurrency exchange and the arrest of its founder Sam Bankman-Fried, who is now under investigation for fraud. So what's in store for the industry this year? FRANCE 24's Kate Moody spoke to Brett Quick, head of policy at the Crypto Council for Innovation, a crypto advocacy group that establishes dialogues with governments and regulatory agencies.
2022 was dominated by Russia's invasion of Ukraine, the energy and inflation crises that stemmed from the war, as well as ongoing disruptions to global supply chains. In this show, we're looking ahead to 2023 with Ian Bremmer, president and founder of the Eurasia Group. It has just published its annual ranking of the biggest geopolitical and economic risks facing the global community. Top of the list is rogue Russia, followed by maximum Xi Jinping of China, weapons of mass disruption, inflation shockwaves and Iran.
The past year has been one of challenges for households and businesses around the world. Russia’s invasion of Ukraine upset a tentative global economic recovery and created new challenges for governments and consumers alike. FRANCE 24's Business Editors Kate Moody and Charles Pellegrin look back at some of the biggest business stories from 2022.
Global corporations are facing growing pressure to weigh in on political and social issues. But do they follow through, and can they still turn a profit? Kate Moody asks Katherine Valvoda Smith. She is the executive director of the Boston College Center for Corporate Citizenship and co-author of "The Executive's Guide to 21st Century Corporate Citizenship: How your Company Can Win the Battle for Reputation and Impact".
As widespread protests break out across China, we take a closer look at the impact of the zero-Covid policy on workers, businesses and the economy, by speaking to Professor Chang-Tai Hsieh of the University of Chicago Booth School of Business. "There is no question that this has been an unmitigated economic disaster. The growth is down to levels that we haven't seen in decades," he told us.
"Quiet quitting" is the latest trend to sweep across the American workforce. The concept doesn't involve actually leaving one's job, but rather making a conscious decision not to go above and beyond basic duties. The expression began circulating in July when a New York-based engineer published a video on TikTok that went viral. But employers shouldn't dismiss this as a social media trend, warns Allyson Stewart-Allen, CEO of International Marketing Partners. "This is not a passing fad or just another employment cycle. This is a profound reassessment that people are taking time to do, to think about balance."
This week, we're focusing on Qatar and asking what the economic impact of hosting the FIFA World Cup could be. Can this be a transformative event for the gas-dependent country? Or will it be a financial abyss worth an estimated $200 billion? We ask Alexis Antoniades, an economics professor at Georgetown University’s campus in Qatar.
A strong performance by Joe Biden's Democratic Party defied predictions of a Republican "red wave" in the US midterm elections, despite consumers feeling the pinch of high inflation. Americans have seen wages and benefits increase, but the standard of living has not. Delano D'Souza asks Abigail Watt, US Research Economist at abrdn, what we can expect from the US president on the economic front going forward.
A strong performance by Joe Biden's Democratic Party defied predictions of a Republican "red wave" in the US midterm elections, despite consumers feeling the pinch of high inflation. Americans have seen wages and benefits increase, but the standard of living has not. Delano D'Souza asks Abigail Watt, US Research Economist at abrdn, what we can expect from the US president on the economic front going forward.
The Covid-19 pandemic and Russia's invasion of Ukraine have reversed three decades of progress in reducing poverty, according to the World Bank, which is warning that the global goal of eradicating extreme poverty by 2030 is now out of reach. In its latest report, the Washington-based lender estimates that 70 million more people were forced into extreme poverty in 2020, the largest increase since monitoring began in 1990. Solange Mougin speaks to Mari Pangestu, Managing Director of Development Policy and Partnerships at the World Bank and a former Indonesian trade minister.
The Covid-19 pandemic and Russia's invasion of Ukraine have reversed three decades of progress in reducing poverty, according to the World Bank, which is warning that the global goal of eradicating extreme poverty by 2030 is now out of reach. In its latest report, the Washington-based lender estimates that 70 million more people were forced into extreme poverty in 2020, the largest increase since monitoring began in 1990. Solange Mougin speaks to Mari Pangestu, Managing Director of Development Policy and Partnerships at the World Bank and a former Indonesian trade minister.
The global energy crisis is weighing on households and businesses around the world. The US is more insulated from the high prices because it's a net exporter of energy, and American producers have boosted shipments of liquefied natural gas (LNG) to Europe. But energy and finance analyst Clark Williams-Derry says the ongoing supply issues could change the balance.
The global energy crisis is weighing on households and businesses around the world. The US is more insulated from the high prices because it's a net exporter of energy, and American producers have boosted shipments of liquefied natural gas (LNG) to Europe. But energy and finance analyst Clark Williams-Derry says the ongoing supply issues could change the balance.
Insurance policies are indispensable for most consumers and businesses around the world. But with the cost of living soaring, so has the price of insurances. A survey of households in the United States and Europe suggests nearly half of them have seen their insurance premiums go up in the last year, but nearly eight in 10 have nevertheless stuck with their existing policies.
Insurance policies are indispensable for most consumers and businesses around the world. But with the cost of living soaring, so has the price of insurances. A survey of households in the United States and Europe suggests nearly half of them have seen their insurance premiums go up in the last year, but nearly eight in 10 have nevertheless stuck with their existing policies.
Federal Reserve Chair Jerome Powell says he won't cause a deep recession but that "pain" is necessary to fight inflation. To curb the largest price increases in four decades, the US Federal Reserve has been raising interest rates this year. "The Fed is doing a bad job because they don't have the money supply on their dashboard," says Steve Hanke, a professor of applied economics at Johns Hopkins University. "The monetary policy revolves around the growth rate and the money supply; that is the key, not interest rates," he tells FRANCE 24.
Federal Reserve Chair Jerome Powell says he won't cause a deep recession but that "pain" is necessary to fight inflation. To curb the largest price increases in four decades, the US Federal Reserve has been raising interest rates this year. "The Fed is doing a bad job because they don't have the money supply on their dashboard," says Steve Hanke, a professor of applied economics at Johns Hopkins University. "The monetary policy revolves around the growth rate and the money supply; that is the key, not interest rates," he tells FRANCE 24.
"The most sustainable garment is one you keep for the rest of your life." Livia Firth, co-founder and creative director of Eco-Age, says the fashion industry has been turned upside down by the fast fashion business, but that consumers and designers can reverse the trend. "The world has been addicted to consuming, like we've been addicted to sugar. We now have to wean ourselves [off that trend] and understand that it's not necessary to constantly change our wardrobe. In the long term you actually save a lot of money," she tells FRANCE 24.
"The most sustainable garment is one you keep for the rest of your life." Livia Firth, co-founder and creative director of Eco-Age, says the fashion industry has been turned upside down by the fast fashion business, but that consumers and designers can reverse the trend. "The world has been addicted to consuming, like we've been addicted to sugar. We now have to wean ourselves [off that trend] and understand that it's not necessary to constantly change our wardrobe. In the long term you actually save a lot of money," she tells FRANCE 24.
"The most sustainable garment is one you keep for the rest of your life." Livia Firth, co-founder and creative director of Eco-Age, says the fashion industry has been turned upside down by the fast fashion business, but that consumers and designers can reverse the trend. "The world has been addicted to consuming, like we've been addicted to sugar. We now have to wean ourselves [off that trend] and understand that it's not necessary to constantly change our wardrobe. In the long term you actually save a lot of money," she tells FRANCE 24.
"The most sustainable garment is one you keep for the rest of your life." Livia Firth, co-founder and creative director of Eco-Age, says the fashion industry has been turned upside down by the fast fashion business, but that consumers and designers can reverse the trend. "The world has been addicted to consuming, like we've been addicted to sugar. We now have to wean ourselves [off that trend] and understand that it's not necessary to constantly change our wardrobe. In the long term you actually save a lot of money," she tells FRANCE 24.
Economist Jayati Ghosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for the Reform of International Corporate Taxation. The ICRICT is calling for emergency taxes on multinational corporations to help deal with the inflation crisis and growing government debt.
Economist Jayati Ghosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for the Reform of International Corporate Taxation. The ICRICT is calling for emergency taxes on multinational corporations to help deal with the inflation crisis and growing government debt.
As the UK mourns the death of Queen Elizabeth II, we delve into the finances of the British monarchy and what could change. With assets from castles and sporting grounds to jewels and art, the Royal Family is estimated to have more than €20 billion in personal wealth. Does the monarchy costs more to British taxpayers than it brings in? Kate Moody discusses this and more with Dr Laura Clancy, a lecturer at Lancaster University and author of "Running the Family Firm: How the Monarchy Manages Its Image and Our Money".
As the UK mourns the death of Queen Elizabeth II, we delve into the finances of the British monarchy and what could change. With assets from castles and sporting grounds to jewels and art, the Royal Family is estimated to have more than €20 billion in personal wealth. Does the monarchy costs more to British taxpayers than it brings in? Kate Moody discusses this and more with Dr Laura Clancy, a lecturer at Lancaster University and author of "Running the Family Firm: How the Monarchy Manages Its Image and Our Money".
As the UK mourns the death of Queen Elizabeth II, we delve into the finances of the British monarchy and what could change. With assets from castles and sporting grounds to jewels and art, the Royal Family is estimated to have more than €20 billion in personal wealth. Does the monarchy costs more to British taxpayers than it brings in? Kate Moody discusses this and more with Dr Laura Clancy, a lecturer at Lancaster University and author of "Running the Family Firm: How the Monarchy Manages Its Image and Our Money".
As the UK mourns the death of Queen Elizabeth II, we delve into the finances of the British monarchy and what could change. With assets from castles and sporting grounds to jewels and art, the Royal Family is estimated to have more than €20 billion in personal wealth. Does the monarchy costs more to British taxpayers than it brings in? Kate Moody discusses this and more with Dr Laura Clancy, a lecturer at Lancaster University and author of "Running the Family Firm: How the Monarchy Manages Its Image and Our Money".
Will Europe have enough energy to make it through the winter, as Russia tightens the taps? Fatih Birol, Executive Director of the International Energy Agency, thinks so. He tells FRANCE 24: "I believe this winter will be a major energy test for Europe, but at the same time it is a test for solidarity among European countries. If we fail this energy test, the implications may well be beyond energy."
Will Europe have enough energy to make it through the winter, as Russia tightens the taps? Fatih Birol, Executive Director of the International Energy Agency, thinks so. He tells FRANCE 24: "I believe this winter will be a major energy test for Europe, but at the same time it is a test for solidarity among European countries. If we fail this energy test, the implications may well be beyond energy."
Will Europe have enough energy to make it through the winter, as Russia tightens the taps? Fatih Birol, Executive Director of the International Energy Agency, thinks so. He tells FRANCE 24: "I believe this winter will be a major energy test for Europe, but at the same time it is a test for solidarity among European countries. If we fail this energy test, the implications may well be beyond energy."
Will Europe have enough energy to make it through the winter, as Russia tightens the taps? Fatih Birol, Executive Director of the International Energy Agency, thinks so. He tells FRANCE 24: "I believe this winter will be a major energy test for Europe, but at the same time it is a test for solidarity among European countries. If we fail this energy test, the implications may well be beyond energy."
The pandemic and a weak economic recovery have pushed back progress on closing the gender gap around the world. Saadia Zahidi, Managing Director of the World Economic Forum, says that issues including family care policies, an increasingly digital economy, and ongoing struggles in certain industries have all been setbacks for women. The WEF Global Gender Gap Report 2022 now projects it will take 132 years to reach gender parity.
More than five million Ukrainian refugees have fled the country since Russia's invasion, and many are seeking jobs in host countries throughout Europe. The Tent Partnership for Refugees has launched a new initiative, which aims to integrate displaced Ukrainian women into the workforce in the EU. Dozens of major European corporations have signed on to the Sunflower Project.
Semiconductor shortages will "still be a hurdle" for the car industry throughout the rest of 2022, Citroën CEO Vincent Cobée tells FRANCE 24. But he thinks 2023 could be a turning point. In the last 18 months, the EU has seen a "substantial acceleration" towards electric vehicles – Cobée says the adoption is "quicker than we expected some years ago". Nevertheless, he admits the 2035 target for phasing out petrol and diesel cars is "a very ambitious bet that requires a very substantial amount of investment", including in the charging infrastructure across the bloc.
Has the pandemic changed what tourists are looking for? In this edition we dive into the new trends and the impact of rising inflation, as well as how staff shortages could hamper the liftoff of the aviation sector. Plus we head to a theme park near Paris where attendance figures are booming after a rollercoaster two years.
The world "missed a historic chance for a clean energy recovery", warns the sustainable energy network REN21. Despite growing investment, clean energy still lags behind fossil fuels when it comes to powering homes and businesses. FRANCE 24's Kate Moody talks to REN21's Executive Director Rana Adib.
Russia's invasion of Ukraine is derailing the global economy's recovery from the Covid-19 pandemic. The Organisation for Economic Cooperation and Development (OECD) is the latest to slash its global GDP growth forecast for 2022, from 4.5 percent projected in December to just 3 percent in its latest outlook. Driving that slowdown is the cost of living crisis that's impacting households and businesses around the world. For more, Kate Moody speaks to the OECD's deputy secretary-general and chief economist, Laurence Boone.
The world is on the verge of its worst food crisis in history. In this special edition, FRANCE 24's Business Editor Kate Moody asks leaders in Davos what they are proposing to protect the most vulnerable. Our reporters also look at how Finland has become one of the most food-resilient countries in the world. Plus we meet Apeel CEO James Rogers, who's fighting against food waste with an all-natural spray that extends the shelf life of fresh fruit and vegetables.
This year's World Economic Forum in Davos has been dominated by the war in Ukraine and its implications on the global economy. With the drop in grain exports from the region, concern is growing over a looming food crisis. FRANCE 24's Business Editor Kate Moody spoke to IMF Managing Director Kristalina Georgieva, who criticised food export restrictions by countries such as India for "only making a crisis worse". She also called for governments to help "speed up" agricultural production "where this is still possible".
The 75th Cannes Film Festival has opened, with more than 100 films being shown in the official selection. The event is good news for the local economy and an essential stop for many in the entertainment world. For Daniela Elstner, the executive director of Unifrance, an organisation that promotes French cinema worldwide, Cannes can be a "gamechanger" for filmmakers. She explains that "the destiny of hundreds of films is negotiated at the festival". Also in the programme, we look at whether streaming platforms such as Netflix have reached their peak.
Inflation is at its highest level in decades in many parts of the world. In the US, consumer prices were 8.3 percent higher in April than a year earlier. In the eurozone, they rose by around 7.5 percent. Energy prices have been driving the surge, with Russia's war in Ukraine further fuelling the trend. But higher inflation tends to have a bigger impact on low-income households. Xavier Jaravel from the London School of Economics discusses this and more with FRANCE 24's Kate Moody.
Cryptocurrency has become a global phenomenon in recent years. More mainstream financial institutions are now embracing crypto assets, while two countries have adopted Bitcoin as legal tender. But there are many concerns around the technology and its capacity to disrupt traditional financial systems, even as Russia's war in Ukraine has highlighted its potential as a geopolitical tool. Sean Lee, senior advisor at the Crypto Council for Innovation joins Kate Moody to talk about the future of cryptocurrencies.
French voters have re-elected Emmanuel Macron for another five-year term, handing him victory over far-right candidate Marine Le Pen for the second time in a row. So what's next for the French economy and the number one issue for voters, the cost of living crisis? Kate Moody asks Frederik Ducrozet, senior European Economist at Pictet Wealth Management.
Millions of people are thought to be suffering the effects of so-called long Covid. How is this affecting America's already-tight labour market? FRANCE 24's Solange Mougin tells us more. Also in the programme, we're joined by Elliot Coad, the CEO of Ecologi, to discuss how small and medium-sized businesses are keeping pace with ever-evolving environmental standards and what support they need to do better. Plus, can rosé in a can take off in France? We meet the winemakers trying to uncork that taboo.
As more Ukrainians flee the Russian invasion, European governments are trying to meet the initial cost of supporting those refugees. One estimate puts the figure at $30 billion for this year alone. In this special show, we examine how a refugee crisis impacts the economy of host countries. Economist Emmanuelle Auriol from the Toulouse School of Economics shares her insights. We also speak to the founder of SEP, a group that's giving women refugees at the Jerash Camp in Jordan a fresh start through embroidery.
Stephen Carroll and Kate Moody take a look at the economic promises being made by the candidates in France's presidential election. The cost of living is the biggest issue for voters, whereas the topic of government debt – a subject that has dominated previous elections – is largely absent from this year's campaign. We examine what the presidential hopefuls are promising in terms of combatting inflation, creating jobs and reforming the tax system.
The question of how to overhaul France's complex pension system has been a politically sensitive topic for years. A major reform proposed by the current government stalled in 2020 due to the pandemic and following mass protests. But it's once again become an issue in the current presidential campaign. We take a closer look in this special edition.
Inflation in France is set to surpass 4 percent in March, according to the latest estimates from the national statistics institute Insee. The pace of price rises has already hit the highest level since 2008. The rising cost of living has become a central issue in the French presidential election campaign, with promises from candidates to cut taxes and raise wages to tackle it.
Ukraine's former finance minister has told FRANCE 24 that any company doing business with Russia is indirectly financing the war in Ukraine. Natalie Jaresko was in office from 2014 to 2016, when Russia annexed Crimea and conflict was raging in the eastern Donbas region. She described the current situation facing Ukraine as an "economic strangulation of the country" and called on global firms to stop any operations in Russia.
Russia is facing a raft of financial sanctions after it invaded Ukraine. But it's spent years building up its economy to protect against such measures. We take a closer look at Vladimir Putin's fortress economy with Alistair Milne, Professor of Financial Economics at Loughborough University.
The head of the International Energy Agency, Fatih Birol, has said the crisis in Ukraine could be a "historic turning point" in how European countries source their energy. Speaking to FRANCE 24 on Wednesday, before the Russian invasion of Ukraine, Birol noted that supplies of Russian gas to Europe had already fallen last year before the recent escalation of tensions. He said it could be an impetus for EU policymakers to turn to alternative sources, as the cost of gas and electricity have soared.
An estimated 10 million jobs were lost in the creative industries in 2020 due to the Covid-19 pandemic, according to a report from the United Nations' cultural agency UNESCO. The organisation estimates that shutdowns and other restrictions incurred a loss of $750 billion to the global economy. The UN body is calling for better social protection for workers in the arts, many of whom lost their income for long periods during the pandemic. We discuss the report's findings with UNESCO's Berta de Sancristóbal.
A French startup is trying to reinvent online dating for 18 to 25-year-olds. Created in 2019, the app known as Feels looks more like a Snapchat-style story or a TikTok feed than the swipeable profiles found in other dating apps. Its CEO Daniel Cheaib joins us from Miami to tell us exactly how the app works and how the company is now hoping to seduce users in the US.
For more than 30 years, the European Bank for Reconstruction and Development (EBRD) has been investing in countries in Central and Eastern Europe. It's since expanded into the Middle East, Central Asia and North Africa and has plans to move into Sub-Saharan Africa too. The EBRD's President Odile Renaud-Basso discussed some of the challenges facing the development lender, including climate finance, transitioning away from fossil fuels and the Bank's pro-democracy mandate.
India's economy is expected to grow by 8.7 percent this year, according to the latest forecast from the International Monetary Fund, but participation in the labour force has fallen and unemployment has risen to a four-month high. How can India jump-start its labour market along with the economy? Stephen Carroll asks Rajat Kathuria, Professor of Economics and Dean of the School of Humanities and Social Sciences at Shiv Nadar University.
The robotics startup Exotec has become France's 25th unicorn company, valued at $2 billion after its latest fundraising round. The firm makes robots for e-commerce depots, and counts big names like Carrefour, Uniqlo and Decathlon among its customers. Exotec's CEO Romain Moulin told FRANCE 24 the inspiration for the company actually came from online retail giant Amazon.
The World Bank is warning of a "steep slowdown" in economic growth in 2022, as the Omicron variant and inflation weigh on the recovery from Covid-19. In its latest economic forecast, the Bank expects slower global expansion this year and next, as well as a divergence between developed and developing countries. Franziska Ohnsorge, one of the report's authors, told FRANCE 24 "it's almost as if the two groups are on different flight paths", as poorer countries lag behind richer ones.
It's been a chaotic start to the year for the global economy, with the Omicron variant of Covid-19 disrupting a range of industries. In this edition, we're looking ahead to what else may be in store for the rest of 2022. Ian Bremmer, President of Eurasia Group and GZERO Media, joins us to discuss his annual list of top geopolitical risks the world faces. They include: China's "zero-Covid" policy, big tech companies' influence on the world, the US midterm elections, US-Russia tensions, climate change and more.
2021 brought big changes to households and businesses around the world. In the last show of the season, Stephen Carroll and Kate Moody take a look at some of the biggest business and economic stories of the year and how they might evolve in 2022.
Covid-19 has impacted businesses around the world. But despite rising costs, labour shortages and supply chain problems, French bosses are feeling more positive that at any point since the year 2000, according to a November survey. Stephen Carroll meets two entrepreneurs who are making and selling products in France: Christèle Merter, founder and CEO of the eco-conscious clothing company La Gentle Factory; and Benjamin Kuentz, who makes French whisky under his own label Maison Benjamin Kuentz.
The Covid-19 crisis has exacerbated inequalities between the very wealthy and the rest of the population, according to the latest report from the World Inequality Lab. So what can be done to prevent a massive rise in poverty? Stephen Carroll speaks to Lucas Chancel, the lead author of the report. Also in the programme: Kate Moody looks at the right to disconnect and what it really means in practice for workers. Plus we bring you a report about a French entrepreneur who's making tracks with old bike tyres.
The hotel chain Marriott has said bookings at its South African locations have been hit by new Covid-19 travel restrictions, but that they have "not seen a huge number of cancellations as yet". President Cyril Ramaphosa has criticised the travel bans imposed on his country and its neighbours after the Omicron variant was first identified there. Marriott's EMEA (Europe, Middle East and Africa) President, Satya Anand, told FRANCE 24 that the company is hopeful the effects will merely be temporary.
The United States is the only developed economy without any national policy on paid parental leave. American lawmakers have recently made efforts to pass mandates on parental and family leave, but the legislation is likely to be blocked in partisan bickering. “It has immense benefits” says Richard Petts, Sociology professor at Ball State University, to journalist Kate Moody. “It's really a can't miss policy”.
The French government's strong and swift response to the Covid-19 pandemic has won praise from the Organisation for Economic Co-operation and Development in its latest report. But the OECD is also warning of risks from debt and high public spending. For more, Stephen Carroll speaks to OECD Secretary-General Mathias Cormann.
Former Danone CEO Emmanuel Faber has just attended the COP26 climate summit in Glasgow. Now a partner at the impact investor Astanor Ventures, he has long called for the private sector to play a greater role in the fight against climate change. "No one has stepped up enough at this stage. But people and companies are moving," he told FRANCE 24's Kate Moody.
At the COP26 summit in Glasgow, the IMF is urging rich countries to keep the promises they made when they signed the Paris Agreement in 2015. Developed countries pledged $100 billion per year to help poorer countries reduce carbon emissions, a target that has not yet been met. Kate Moody spoke to Kristalina Georgieva, Managing Director of the International Monetary Fund, about how to close the financing gap and, more broadly, how to keep the goal of a 1.5°C temperature rise alive.
The head of the Fairtrade Foundation says consumers, businesses and governments need a ‘reality check’ on the situation facing farmers in developing countries. CEO Michael Gidney speaks to FRANCE 24 ahead of the COP26 climate conference, where Fairtrade will be bringing a pledge for businesses. In this pledge, companies will promise to invest in more sustainable supply chains and provide guaranteed prices to farmers.
The world is facing unprecedented disruptions to global supply chains. A backlog in shipping and lack of raw materials is affecting the economic recovery and creating problems for businesses and consumers. Willy Shih, Professor at Harvard Business School, tells us that many industries will find they can't get merchandise in time for the holiday season, and that the problems could last until 2023.
Back in May, French President Emmanuel Macron brought political leaders from Africa to Paris to discuss the financial challenges facing their countries. Now he's turning to the private sector, with hundreds of entrepreneurs from across the continent among those attending a summit in the southern French city of Montpellier. So what are the challenges and opportunities for entrepreneurs in Africa today?
Although travel has slumped over the past year and a half due to the Covid-19 pandemic, many tourist destinations in Europe had a better summer season than expected. We check with the hotel industry at the Global Lodging Forum in Paris, where industry executives are discussing the big issues facing the sector. Among them is Karin Sheppard, Senior Vice President and Managing Director for Europe at IHG, the hotel group that includes brands like the Intercontinental, Crowne Plaza and Holiday Inn.
The cost of gas and electricity has soared in countries across Europe, and prices are expected to continue climbing as temperatures fall in the coming months. A limited supply of natural gas and higher demand have pushed up prices for power companies, industry and consumers. James Waddell from research consultancy Energy Aspects tells FRANCE 24 how long the crisis is set to last, and how it might be resolved.
China's President Xi Jinping has promised to rein in major internet platforms in the name of fairer competition and data protection. Tencent, Alibaba, Didi and the Ant Group – some of the biggest names in Chinese technology – are now all facing increased scrutiny from regulators. So what's driving the crackdown and what does it mean for companies and consumers? We discuss these issues with Martin Chorzempa from the Petersen Institute for International Economies.
A global shortage of truck drivers is hitting supplies of everyday goods. It's a particular problem in the United Kingdom, where many drivers are EU nationals. But what's the situation across the rest of Europe? Stephen Carroll speaks to Raluca Marian from the International Road Transport Union (IRU), an organisation representing the road transport sector.
The Covid-19 pandemic sparked a revolution in social protection – but is the safety net stronger as a result? Stephen Carroll speaks to Guy Ryder, the head of the International Labour Organization (ILO), about the details of its latest research.
The head of France’s largest employers’ federation, Medef, says his members are in favour of the health pass required to access restaurants, cinemas, long-distance transport and other businesses in France. Geoffroy Roux de Bézieux tells FRANCE 24 that the pass - which proves a person has been vaccinated or tested negative for Covid-19 - is the “only way out” of the crisis caused by the pandemic.
"I love meat! I just don’t love the consequences of it." Bernat Añaños is leading a food revolution, as Europe’s fastest-growing producer of vegan meat. The co-founder of Heura Foods tells FRANCE 24 about the challenges and benefits of producing alternative meat products that are "simple, healthy, and have a positive impact on the planet".
Bars, restaurants, concert venues and theatres reopened in May in France, while nightclubs were only given the green light in early July. They'd been closed since the start of the pandemic. From August, anyone going to these places must produce a so-called "health pass" showing that they've been vaccinated or tested negative for Covid-19. Stephen Carroll asks Harry's Bar head bartender Laurent Giraud and Le Bonbon Nuit editor Lucas Javelle what lies ahead for Paris's nightlife scene.