Seven hours after its launch, some 10 million people had signed up to the new "text-based social media platform" Threads, according to Meta CEO Mark Zuckerberg. The app aims to attract Twitter users who are unhappy with some of the changes on that platform under Elon Musk's ownership. Also in this edition, we see how heatwaves in India are leaving a mark on the country's agricultural and construction sectors. Plus, one California company gets approval for a test flight of a flying car.

Fresh figures have shown the extent of the European Union's efforts to reduce its energy dependency on Russia, with Moscow accounting for just 3 percent of the bloc's oil imports in the first quarter of this year, compared to 26 percent during the same period in 2022. The EU has also moved away from Russian natural gas, relying more heavily on Norway, the UK and Algeria. This comes as the decline in Moscow's export revenues weakens its currency.

In spite of an agreement struck in April to cut production of crude by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, oil prices still haven't seen a boost. In this edition, we see that concerns over global economic growth are outweighing the production cuts. Also, European space rocket Ariane 5 gears up for its final lift-off and Singaporean bank UOB makes a winning bet on Taylor Swift fans.

Beijing has announced it will set restrictions on the export of two key materials used to make computer chips. Starting on August 1, China's commerce ministry will require producers of gallium and germanium to obtain licences before exporting the metals. The move comes after the United States imposed similar restrictions on exports of semiconductors to China last year on national security grounds. Also in this edition, Indonesia's president goes to Australia in the hope of enlisting help in building up an electric battery supply chain. Plus, Meta says it will launch a rival to Twitter.

The Wall Street Journal is reporting that Washington is looking to further restrict the exports of artificial intelligence chips to China. The United States is concerned that Beijing could use American-made technology to develop weapons or increase its hacking abilities. Also in this edition: UK food retailers face tough questions on high prices in parliament, and drinks giant Diageo cuts ties with hip-hop mogul Diddy over accusations of racism.

In his address at the World Economic Forum in Tianjin on Tuesday, Chinese Premier Li Qiang dismissed the notion put forth by the United States and the European Union of decreasing dependence on China's economy as a "misguided proposition". Furthermore, he reassured attendees that despite mounting concerns about the vigor of the nation's economic recovery, China is on course to attain its projected 5% GDP growth for 2023. In other news, high food prices have thrust UK supermarket chains into the spotlight as they prepare to answer questions before Parliament in the latest edition.

The latest report from the UK-based Energy Institute trade group shows demand for energy rising in 2022 as fossil fuels continued to make up more than four-fifths of global supply last year. Also in this edition: inflation renders the Hajj pilgrimage increasingly unaffordable, and Greek voters choose economic stability after a decade of crisis.

Several companies at the Paris Air Show are presenting advanced prototypes of air taxis that could offer an alternative means of inner city transport. One of them, German group Volocopter, is aiming to get its aircraft up and running for the 2024 Paris Olympics. Also in the show, we look ahead to the Summit for a New Global Financing Pact that's taking place in Paris later this week. World leaders will be convening to discuss changes to the global financial system in order to better respond to the climate emergency.

BUSINESS DAILY – Monday, 19.06.2023: With over 300,000 visitors and thousands of deals expected to be made, exhibitors from the aeronautic and air defence industries have gathered outside Paris for the "Le Bourget" air show. We also take a look at Switzerland's decision to become carbon neutral by 2050 and raise corporate taxes to 15 percent.

BUSINESS DAILY - Friday, 16.06.2023: The cost of importing food is expected to reach nearly $2 trillion this year, with inflation increasing hunger and starvation in poorer nations. Also, prior to next week's Paris Air Show, French President Emmanuel Macron is announcing investments in greener ways to fly. Plus, we see how Beijing, Washington and Brussels are taking three different approaches to interest rates. Finally, we discuss Elon Musk's upcoming talks with Macron and his stop at the VivaTech trade show.