Michelle Fleury

Michelle Fleury, the North America business correspondent for the BBC, dives into the newly approved free trade agreement between the EU and Mercosur, highlighting the mixed reactions from member countries. She also discusses a potential $207 billion takeover in the mining sector between Glencore and Rio Tinto, offering insights into its implications for the industry. Lastly, the conversation touches on how these major deals are influencing market dynamics, making for an engaging look at current economic trends.

Tariffs and trade wars dominated 2025, but what does the year ahead have in store? And what about the prospect for rising prices we’ve seen around the world? The BBC’s Deputy Economics Editor, Dharshini David, and North America Business Correspondent, Michelle Fleury, pick through what we learned last year and explore the trends likely to shape the global economy in 2026. If you would like to get in touch with the programme, please email: businessdaily@bbc.co.ukPresenter: Will Bain Producer: Matt Lines(Picture: Italian Prime Minister Giorgia Meloni, French President Emmanuel Macron, Canadian Prime Minister Mark Carney, US President Donald Trump, UK Prime Minister Keir Starmer and Germany’s Chancellor Friedrich Merz at the G7 summit in Kananaskis on June 16, 2025. Credit: AFP via Getty Images)

Michelle Fleury, a BBC North America business correspondent, discusses the delayed impacts of U.S. tariffs and a K-shaped economic recovery influenced by AI. Lily Jamali, a BBC technology correspondent, highlights trends in open-source Chinese AI models and the cost advantages for developers. Together, they explore the speculative risks surrounding massive investments in AI and question whether the market is headed for a bubble. Their insights paint a complex picture of the global economy leading into 2026.

Darshini David, the BBC's Deputy Economics Editor, and Michelle Fleury, North America business correspondent, dive into the turbulent global economy facing 2026. They discuss how unexpected U.S. tariffs have disrupted global trade and predict their effects will become evident this year. Michelle highlights the AI-driven 'K-shaped' recovery, illustrating stark economic divides in the U.S. They also explore the risks associated with massive AI investments amid fears of a potential market bubble.

Julia Coronado, founder of Macro Policy Perspectives and a professor at UT Austin, and Michelle Fleury, BBC journalist, dive into the signs of a stalling Chinese economy. Coronado explains the slowing U.S. labor market and the stubborn inflation that won't quite fall to target levels. Meanwhile, Fleury reports on retailers expecting the lowest seasonal hiring in years, despite projected strong holiday sales, attributing this to economic uncertainties. Both guests highlight the mixed responses from shoppers regarding their holiday spending plans.