Business

France's prime minister has called for pushing back the final approval vote on the landmark EU-Mercosur free trade deal as an outbreak of lumpy skin disease sparks a fresh crisis in its agricultural sector. Also in this edition: credit default swaps for AI hyperscalers take off as investors worry about excessive debt, and French consumers tighten their belts for Christmas.

The US's motives are unclear after it seizes a sanctioned oil tanker off the coast of Venezuela. Also, France's last major home appliance maker goes bankrupt. Meanwhile, Disney strikes a deal with OpenAI. Plus, Lidl gets creative with its advertising, with a competition to win its "Eau de croissant".

The Federal Reserve, the US central bank, lowered its benchmark interest rate by 25 basis points on Wednesday. The move comes as the US economy deals with sticky inflation, slowing jobs figures and a lack of official data because of the government shutdown. Stock markets reacted favourably to the news initially, but were then weighed down by concerns related to the tech sector. Also in this edition: Donald Trump signals his support for a change of ownership at CNN. Plus, we bring you some data on Venezuela's oil industry. 

The US Federal Reserve has lowered its benchmark rate by a quarter percentage point, to a range of 3.5%-3.75%. However, it signalled there will be fewer cuts going forward amid a cooling labour market and persistently high inflation. The vote was not unanimous, with two board members calling for keeping rates unchanged, and Trump ally Stephen Miran wanting a larger cut. Also in the segment: the United Arab Emirates is turning towards AI as part of a strategy of ensuring its future in a post-fossil fuels world. 

As Australia's ban on social media for children under 16 takes effect, we speak with Jess Butcher, a tech entrepreneur and founder of digital wellbeing foundation ScrollAware. In spite of being opposed to over-regulation, she tells us she supports the Australian ban on account of the scale of the "harms that these platforms are causing" to users and the failure of tech companies to act meaningfully. 

Automotive heavyweights Renault and Ford are to join forces to develop a line of compact, more affordable Ford-branded electric vehicles and commercial vans in a bid to curb a wave of cheaper Chinese electric models gaining ground in Europe. Ford CEO Jim Farley said in a joint statement: “We will combine Renault Group's industrial scale and EV assets with Ford's iconic design and driving dynamics to create vehicles that are fun, capable and distinctly Ford in spirit." Also in this edition: Microsoft announces $23 billion in AI investments in Asia.

US President Donald Trump said on Monday that he would allow the export of US chipmaker Nvidia's second-most powerful AI chips to China, in spite of criticism saying such a move could end up benefitting Beijing's military. Trump said the US would collect a 25 percent fee on these sales and added that he'd informed Chinese leader Xi Jinping of his decision. Also in this edition, we look at why Chinese cars are increasingly popular among French consumers.      

China exported over $1 trillion worth of goods more than it imported for January through November, a record amount that is increasingly seen as untenable by the country's Western trading partners. We take a closer look. Also in this edition: Netflix's acquisition of Warner Bros. faces regulatory hurdles and pushback from Hollywood unions.

Russian President Vladimir Putin has landed in India for talks with Prime Minister Narendra Modi for the first time since the start of the war in Ukraine. The visit aims at strengthening economic ties between Moscow and New Delhi. Also, Italian police visit the headquarters of 13 major fashion brands as part of an investigation into luxury good supply chains. Plus, hundreds queue up in Auckland for Ikea's grand opening. 

French President Emmanuel Macron is visiting China with a delegation of business leaders, seeking more Chinese investment in France and a reduction in the trade deficit. We take a closer look. Also in this edition: the Trump administration plans to loosen US fuel efficiency standards, to the delight of carmakers and the dismay of climate advocates.