Japan's GDP fell at an annualised rate of 1 percent in the first three months of this year as the Omicron variant of the coronavirus hampered consumer spending. Rising commodity prices also weighed on businesses in the world's third-largest economy. Plus, as unemployment remains stable in France at 7.3 percent, a steelworks factory in the northern city of Dunkirk is offering a cash bonus to employees to encourage them to recruit family members.

Elisabeth Borne has been appointed France's new prime minister. The former transport, ecology and labour minister faces numerous challenges, with the most pressing priority being helping French households with the soaring cost of living. She will also need to tackle the thorny issue of pension reform as well as steer the country through a major energy transition. Plus, Moscow residents display mixed feelings after US fast food giant McDonald's announces it's pulling out of Russia for good.

New data shows China's economy cooled sharply in April, as many cities including Shanghai suffered Covid-19 lockdowns. Industrial output dropped nearly 3 percent compared to a year before, while retail sales slumped 11 percent. Meanwhile, global wheat prices jump after India announces a ban on exporting the grain due to damage from a heatwave. Finally, we see how tourists are returning to Barcelona. The development is good news for local businesses but could revive tensions over mass tourism.

Cryptocurrency markets are in turmoil as so-called stablecoins, designed to be protected from extreme volatility, have tumbled in recent days. One such token, Luna, has all but evaporated, plunging from a high of $118 last month to less than one cent. Plus, the airline industry is struggling with staff shortages ahead of the summer holiday season – we find out why.

The International Labour Organization says nearly 5 million jobs have been lost in Ukraine since the start of the Russian invasion, as nearly half of businesses in the country have been knocked out of operation. The UN agency warns that the situation could have ripple effects across Europe and Central Asia. Meanwhile, as the war in Ukraine worsens supply shortages and price hikes, French dairy farmers are struggling to keep afloat, raising fears of potential milk shortages.

US tech giant Apple has announced it is stopping production of its iconic iPod device, which was first launched in 2001. With a battery life of 10 hours and enough space for 1,000 songs, the iPod completely changed the way we listen to music and paved the way for smartphones. Also in the show, US President Joe Biden says the fight against inflation is his "top priority".

Facebook owner Meta Platforms has opened its first physical retail store in Burlingame, California. It's located at the main campus of Reality Labs, the company's unit that produces hardware like virtual reality headsets or smart glasses. Meta has staked its future business on the idea of the metaverse, an immersive and shared virtual space, as growth fuelled by ad revenue slows. But first, we look at how global markets are faring amid fears of an economic slowdown.

After a sell-off on Wall Street, global investors are grappling with price increases and rising borrowing costs. Inflation is particularly brutal in Turkey, and the Greek government unveils a program to protect households from soaring energy prices.

America's central bank is hiking interest rates by half a percent in a bid to tame decades-high inflation in the US. But it’s also tempering its plan for future hikes to avoid sending the economy into recession. Meanwhile, French consumers are facing skyrocketing prices across a number of sectors.

Elon Musk says companies and governments might need to pay to use Twitter under his ownership, as the billionaire Tesla founder seeks more investors to cover the private financing of his $44 billion takeover deal. The US Fed gets set to hike interest rates, and soaring profits at oil companies spur a push for windfall taxes.