World Business Report

Alexander Koliander, a specialist from the Centre for European Policy Analysis, dives into the contentious ceasefire terms between Ukraine and Russia. He discusses how Russia's demand for lifting sanctions on banks ties into the credibility of their peace claims. The conversation also touches on the implications for global shipping and food security amid the Black Sea conflict. Alongside this, Koliander briefly explores reshoring in Canada and the surprising decline in orange juice consumption, highlighting the complex factors affecting both markets.

A significant ceasefire agreement between Ukraine and Russia has been established, ensuring safe passage for commercial shipping in the Black Sea, vital for grain exports. Meanwhile, Tesla faces declining sales in Europe amid rising competition in the electric vehicle market. In a unique initiative, a cryptocurrency company plans to harness Bitcoin mining in rural Africa by utilizing mini-power plants. Additionally, concerns about an AI investment bubble and the launch of a Trump-endorsed stable coin stir discussions on the future of finance.

President Trump proposed a hefty 25% tariff on countries buying oil from Venezuela, stirring economic and geopolitical debates. The discussion also dives into how this impacts U.S. energy policy and global markets, particularly regarding China. Meanwhile, there's a spotlight on the surprising rise of BYD in the electric vehicle race, as it overtakes Tesla. Additionally, the bankruptcy of a prominent DNA testing firm raises concerns over data privacy and corporate challenges in a volatile economy.

Anti-government protests in Turkey are causing unprecedented economic strain, leading to a plummeting lira and rising inflation. Meanwhile, negotiations continue over a vital Black Sea grain deal, affecting global food supply chains. In China, 80 multinational executives gather to boost foreign investment amid tariff uncertainties. Additionally, the South Korean group NewJeans faces legal challenges that hinder their performances, reflecting broader issues of ownership rights and management struggles in the music industry.

The big event of 2021 that will shape economies all over the world for decades to come was the COP 26 climate conference in Glasgow in November. The meeting saw a deluge of promises, but what was actually achieved? Martin Webber speaks to Tim Gould, chief energy economist at the International Energy Agency and economist Irwin Stelzer, from the Hudson Institute in the United States.It was another boom year for the pharmaceutical industry as it crafted the vaccines that have saved so many lives. Of the 8 billion coronavirus vaccinations worldwide, one billion have been delivered by the US logistics company, UPS. We hear from Wes Wealer, President of UPS healthcare.And small business owners have had a bleak time for much of the past year. But many of those that have survived now feel optimistic. We hear from the owner of the Aroma speciality coffee shop in Bologna in Italy, Cristina Caroli, about her year.

Covid-19 is set to prompt radical long term changes to how we live and work, so what lessons can be learnt when we eventually emerge from the pandemic? Could the changes in the way we work herald higher productivity and happier people in the future?We hear the stories of the people who managed to thrive during a very difficult year, including the milkman who saw a boom in deliveries and the dancer who found work in South Korea when the London stage went dark.Martin Webber is joined by Professor Devi Sridhar who holds the Chair of Global Public Health at the University of Edinburgh; economist Roger Bootle, of Capital Economics; Robert Reich, former Labour Secretary under President Clinton; Tomas Philipson, who was Chair of the Council of Economic Advisors under Mr Trump; and actor Thomas Inge who is currentl starring in the musical Cats in South Korea.