The French consumer group "UFC Que Choisir" has called on the government to cut the VAT rate on natural gas, as prices are set to rise by 12.6 percent on October 1. The cost of gas is increasing across Europe as the continent faces lower supplies and higher demand. Also today, the French pharmaceutical giant Sanofi has halted the development of its mRNA vaccine against Covid-19, judging that it would arrive too late on the market.

Bondholders of troubled Chinese property developer Evergrande were left in the dark as a deadline for $83 million in interest payment passed without comment from the company. Evergrande's silence stands in contrast to its treatment of investors at home, with whom it settled coupon payments earlier in the week. Plus, Arc France, which runs the biggest glassware factory in the world, is in deep financial waters again and may have to seek government help, despite a bulging order book.

The price of electricity in Spain has skyrocketed in recent months, leaving some consumers with difficult choices to make about their spending. The Spanish government has announced measures including a VAT cut and a windfall tax on energy company profits to try to combat the price increases, which have been triggered by the rising price of gas. Also today, the troubled Chinese property developer Evergrande faces a major debt deadline.

The US Federal Reserve has opened the door to an interest rate hike and tapering of its emergency monetary stimulus. The central bank has warned, though, that the rising number of Covid-19 cases could impact economic growth. Christian Lawrence, Senior Markets Strategist at Rabobank New York, explains the impact on American households. Also on the show: Netflix seeks the golden ticket as it acquires the rights to late British author Roald Dahl's creations.

The troubled Chinese property developer Evergrande has said it will make a debt interest payment due on Thursday, worth around €30 million, but uncertainty remains over a second payment of more than €70 million, which is also due. Investor fears over how the company will manage its massive debts of over €250 million have been allayed by the company's announcement. Also today, we report on how the global timber shortage is affecting the French construction sector.

The ratings agency S&P has warned that Beijing is unlikely to intervene to rescue struggling Chinese property developer Evergrande, unless there was a risk of "far-reaching contagion" affecting other companies in the sector. The firm is facing two major interest payments this week and fears about its finances have rippled across global stock markets. Also today, we report on how French businesses are facing rising energy costs, as wholesale prices for gas have soared across Europe.

The tourism industry has welcomed the announcement that the US will ease travel restrictions for vaccinated tourists. The return of international travellers after 18 months of border closures will be a boost for the American economy. Also in the show: global stock markets slump amid concerns about Chinese property giant Evergrande, and UK energy prices soar.

Shares in the deeply-indebted Chinese property developer Evergrande fell again on Monday with crucial deadlines on interest payments approaching. Many worry a default could threaten the broader stability of China's financial system. Also, Lufthansa aims to raise €2.1 billion to help pay back a government bailout and Germany's leading candidates for chancellor face off over wages and tax policy in a televised debate.

US President Joe Biden is hoping to win support in Congress for a plan to boost spending on healthcare, education and infrastructure, paid for by tax hikes on corporations and the wealthiest Americans. But the plan's fate is far from certain. Also, IMF head Kristalina Georgieva rejects allegations that she altered a report at her previous job at the World Bank in order to appease China.

The French government is seeking to limit any financial hit to the company that signed a now-cancelled submarine deal with Australia. Hundreds of jobs could be at risk. Also in today's show: IMF chief Kristalina Georgieva denies allegations that she pressed World Bank staff to alter a report in a bid to avoid angering Beijing, and British retailer M&S is to close over half its stores in France by the end of the year.