Business

A new report from the UN's International Labour Organization (ILO) shows that more than 27 million people are engaged in forced labour around the world. This Tuesday, Brussels is announcing new rules to ban goods made with forced labour or those imported into the bloc. The ILO report also raised alarm over the working conditions of Uighurs and other Muslim minorities in the western Chinese region of Xinjiang. Also in this update, the US and Mexico set aside their energy row to focus on bringing semiconductor manufacturing back to North America.

Following the death of Queen Elizabeth II, we take a closer look at the cost of royal funerals and the rush to acquire memorabilia with the late monarch's profile and insignia on it. Also, manufacturing is already slowing across Europe, amid high energy costs. With rising electricity prices, the timing could not have been worse for one electricity firm in eastern France – it accidently sold too many gigawatts, leading to a potential shortage and a pricey buy-back.

The European Central Bank has hiked its key interest rate by an unprecedented 0.75 percent, as it tries to tackle the highest inflation in the bloc's history. But the pace of price rises is largely due to energy costs. Craig Erlam, Senior Market Analyst at Oanda, says the policy shift "is not going to be as effective as you would ordinarily see". He says government action – like the UK's newly-announced plans to cap energy bills – will have a bigger impact for most consumers.

California tech giant Apple launched its new iPhone 14 model on Wednesday, featuring emergency satellite communication and improved cameras. It's Apple's latest push to increase its share of the global smartphone market. Plus, we look ahead to the European Central Bank's announced rate hike and British PM Liz Truss's much-awaited plan to deal with soaring energy bills.

The European Union is proposing a cap on the price of Russian natural gas, despite Vladimir Putin threatening to cut off supplies for any market that does so. European Commission President Ursula von der Leyen is also asking energy ministers to consider imposing a windfall tax on companies that have reaped the benefits of high oil and gas prices. It's a move many countries are considering, although the UK's new Prime Minister Liz Truss has ruled it out.

US Treasury Secretary Janet Yellen says the US will support the restructuring of Sri Lanka's debt and will extend financing assurances to the country. This as Sri Lanka suffers its worst economic crisis in seven decades. We report on how fishermen are having to use oars instead of motors to set to sea. But first, we look at the EU's proposed plan to cope with the energy crisis, as well as discouraging data from China's export sector.

Pressure is piling on European governments as energy prices continue to soar. After Russia said it wouldn't deliver gas on its Nord Stream 1 pipeline until Western sanctions are lifted, Portugal announced a new support programme for households and Austria's chancellor presented a price cap on electricity. Pressure is also coming from the streets, with protests against rising prices in Germany and Italy. Plus, we look at sliced white bread's unlikely comeback in the UK.

On Sunday, German Chancellor Olaf Scholz presented the third package of its kind since Russia's invasion of Ukraine. We take a closer look at the raft of measures that will bring financial support to cash-strapped German households and the windfall tax on energy providers that's due to finance part of it. Meanwhile, faced with a climate crisis in addition to an energy crisis, we see how the US town of Commerce, Georgia is banking on green technology for the future.

The International Monetary Fund has concluded "constructive" talks with the government of Sri Lanka over a possible bailout. The island is facing its worst economic crisis on record, with protests over food, fuel and medicine shortages. Also on the show: why France is faring better than its neighbours when it comes to inflation. Plus FRANCE 24's Madrid correspondent Sarah Morris reports on the Spanish companies suffering from a diplomatic spat with Algeria.

Germany has taken a step towards rationing natural gas by activating the second of three stages in an emergency plan. Officials say that since Russia reduced supplies, gas is now a "scarce commodity". Also in the show: the UK is hit by a second day of rail strikes over job security, pay and the rising cost of living, and high inflation in France prompts a boom in demand for camping holidays.