Business

European lawmakers have kicked off what's likely to be a long and fierce negotiation over the bloc's seven-year budget. Member states are divided on spending priorities, and pending elections in countries including France and Italy are adding pressure to the talks in Brussels. Also in the show: AI stocks lose a trillion dollars in this week's tech stock sell-off, and Ledger's CTO Charles Guillemet explains why AI is changing the security landscape. 

China and North Korea formally opened the Yalu River Bridge on Thursday, connecting Dandong in China with Sinuiju in North Korea. Beijing says the bridge will promote economic and trade cooperation.

Meanwhile, AI firm Anthropic told prospective investors that its third-quarter revenue rose 45 percent from the previous quarter to $16.8 billion. The figures were disclosed at an investor briefing in San Francisco as the company prepares for a potential stock market listing. The update comes as markets scrutinise the enormous spending behind AI infrastructure. Anthropic has not yet publicly commented on the reported figures.

Also in this business roundup, Uganda's central bank raised its benchmark interest rate to 12 percent as higher global oil prices and a weaker shilling stoke inflation. The landlocked country imports all of its oil, making transport and energy costs especially sensitive to global crude prices.

The French glassmaker Duralex is known for its practically unbreakable tableware – and business model. It's been pulled back from the brink for the fifth time in 25 years, by an entrepreneur who is vowing a new, environmentally conscious chapter for the manufacturer. Also in the show: high energy prices fuel inflation in the US just weeks before midterm elections, and Greenland hits back at US President Donald Trump's plans for "massive" oil, gas and mineral exploration there. 

Nvidia CEO Jensen Huang stops by Paris to tout new stakes in French AI-enabled tech firms like medical booking site Doctolib. Also in this edition: OpenAI says it caught a spy red-handed, and China's trade surplus continues to boom despite soaring energy costs and trade conflicts.

China has moved from exporting cars to bringing entire auto industry ecosystems, building up production capacity in Europe and boosting partnerships with local companies. Arthur D. Little's automotive expert Philipp Seidel tells FRANCE 24 that while tariffs and quotas can buy time, EU carmakers must improve their own competitiveness and not become too dependent on Chinese suppliers. But first, we look at the latest IMF global growth forecasts and warning about rising debt. 

The International Monetary Fund (IMF) forecasts that global economic output will slow to 3.1% this year in spite of geopolitical disruptions, but warns that high inflation and AI share valuations could be risks for financial stability. Also in this edition: Russia says it has exported $320 billion worth of oil and gas to European countries since the start of the full-scale invasion of Ukraine in 2022, despite sanctions. Plus: Dangote refinery extends its IPO deadline by two weeks to attract even more retail investors.

The biennial Paris Motor Show kicks off with a record number of Chinese brands descending on the French capital. European carmakers are fighting back, showcasing their latest models, as the EU announces a deal with China to limit the imports of hybrids. FRANCE 24's Charles Pellegrin has been speaking with CEOs of both Chinese and European carmakers. 

The Paris Motor Show roars into gear this Monday, with over 200 auto sector brands showcasing their latest models and innovations. Chinese brands like BYD, Xpeng and Zeekr are among those present and getting lots of attention as their market share has surged in the past few years. In this edition, we speak to John Bozzella, CEO of the Alliance for Automotive Innovation, about the challenge these new competitors represent for the European and North American auto sectors.

The Trump administration continues to crack down on immigration, with new restrictions on the H-1B visa programme. US Vice President JD Vance singled out Microsoft as having abused the system to recruit low-cost foreign workers, to the detriment of the American workforce. The tech giant has defended its hiring practices. Also in the show: Germany could join a UK-led fighter jet development programme, months after pulling out of a joint French project. 

The EU's trade commissioner, Maros Sefcovic, arrived in Beijing this Thursday for two days of talks with his Chinese counterpart Wang Wentao. Sefcovic stated his goal of "rebalancing" an "unsustainable trade deficit". One particular area of concern is the auto sector, where Chinese hybrid vehicles have increased their European market share to 25 percent. Also in this edition: Microsoft unveils its new AI-powered PCs in a bid to rival Apple.