The US Federal Reserve is setting the stage to raise interest rates in March, in a bid to combat elevated inflation. It's also taking further steps to phase out its emergency support of the US economy. Nancy Vanden Houten, Lead US Economist at Oxford Economics, tells us America's central bank has limited tools to fight the surge in prices. Also on the show: workers at France's power utility EDF go on strike over government efforts to limit electricity bills.

The International Monetary Fund has slashed its forecast for the global economic recovery, warning of "multiple challenges" including new variants of Covid-19, high inflation and ongoing disruption to global supply chains. Petya Koeva Brooks, Deputy Director of the IMF's Research Department, discusses the risks and policy challenges as the pandemic enters its third year.

Oil prices have jumped to their highest level since 2014 after the drone attack on fuel tankers in the United Arab Emirates and amid broader concerns about supply in the market. In early trading on Tuesday, the international benchmark Brent Crude rose above $88 per barrel. Oil producers are sticking to their planned supply increases, despite surging demand. The rising cost of fuel is set to hit consumers, who are already facing the highest inflation rate in decades. FRANCE 24's Business Editor Stephen Carroll tells us more.

Announcing his plans for France's rotating presidency of the European Union, President Emmanuel Macron said he's in favour of legislation on a minimum wage for all EU nations. However, many challenges lie ahead on the issue. Also today, a Starbucks branch has unionised for the first time in its 50-year history. The New York employees say they feel they've started a revolution at the global coffee company.

The CEO of mortgage company Better.com has apologised for firing 900 of his employees on a Zoom call. The video of Vishal Garg announcing the layoffs went viral online, and he has now published a statement admitting he "blundered" through the move, and that the manner of his announcement "made a difficult situation worse." Also today, Turkey's president appeals for patience over his economic policies, as Turks face spiralling inflation and a plunge in the value of the lira.

Turkish President Recep Tayyip Erdogan has defended his "economic vision", even as the lira continues to hover near record lows. The plunge in the value of the currency has left many families struggling to make ends meet. Also in the show: the EU outlines a new trade strategy to give it more leverage against countries that try to coerce the bloc for economic or political gain.

Shares in the Chinese property company Kaisa have been suspended from trading in Hong Kong, as fears mount that the firm may be unable to make a $400 million debt payment due on Thursday. Kaisa is a much smaller player than the troubled giant Evergrande, but also has high levels of foreign debt. Also today, we look at how the United Arab Emirates has changed its working week to Monday-Friday to align with other international business hubs.

The Chinese property giant Evergrande has missed a key debt deadline and is inching closer to a possible restructuring. Financial Analyst Danni Hewson explains why the meltdown isn't sparking turmoil on global stock markets. Also in the show: the Carbon Disclosure Project releases its 2021 ranking of sustainable business practices.

France's small business minister is to outline details of compensation for the nightclub and events industries, after the announcement that clubs would be forced to close for four weeks from this Friday due to rising coronavirus cases. French nightclub owners have said they feel unfairly targeted by the measures, after already having to shut for 16 months until July of this year. Also today, we look at the latest twist in the debt troubles facing the Chinese property developer Evergrande.

The Chinese ride-hailing app Didi has announced plans to shift its shares from the New York Stock Exchange to Hong Kong. It's among the first in what could be a series of delistings due to new regulations in both the US and China. Some 200 Chinese firms could be affected, with huge consequences for investors. Also on the show: Europe's tourism sector hopes the latest Covid-19 surge won't throw off their end-of-year bookings.