The European Central Bank has hiked its key interest rate by an unprecedented 0.75 percent, as it tries to tackle the highest inflation in the bloc's history. But the pace of price rises is largely due to energy costs. Craig Erlam, Senior Market Analyst at Oanda, says the policy shift "is not going to be as effective as you would ordinarily see". He says government action – like the UK's newly-announced plans to cap energy bills – will have a bigger impact for most consumers.

California tech giant Apple launched its new iPhone 14 model on Wednesday, featuring emergency satellite communication and improved cameras. It's Apple's latest push to increase its share of the global smartphone market. Plus, we look ahead to the European Central Bank's announced rate hike and British PM Liz Truss's much-awaited plan to deal with soaring energy bills.

The European Union is proposing a cap on the price of Russian natural gas, despite Vladimir Putin threatening to cut off supplies for any market that does so. European Commission President Ursula von der Leyen is also asking energy ministers to consider imposing a windfall tax on companies that have reaped the benefits of high oil and gas prices. It's a move many countries are considering, although the UK's new Prime Minister Liz Truss has ruled it out.

US Treasury Secretary Janet Yellen says the US will support the restructuring of Sri Lanka's debt and will extend financing assurances to the country. This as Sri Lanka suffers its worst economic crisis in seven decades. We report on how fishermen are having to use oars instead of motors to set to sea. But first, we look at the EU's proposed plan to cope with the energy crisis, as well as discouraging data from China's export sector.

Pressure is piling on European governments as energy prices continue to soar. After Russia said it wouldn't deliver gas on its Nord Stream 1 pipeline until Western sanctions are lifted, Portugal announced a new support programme for households and Austria's chancellor presented a price cap on electricity. Pressure is also coming from the streets, with protests against rising prices in Germany and Italy. Plus, we look at sliced white bread's unlikely comeback in the UK.

On Sunday, German Chancellor Olaf Scholz presented the third package of its kind since Russia's invasion of Ukraine. We take a closer look at the raft of measures that will bring financial support to cash-strapped German households and the windfall tax on energy providers that's due to finance part of it. Meanwhile, faced with a climate crisis in addition to an energy crisis, we see how the US town of Commerce, Georgia is banking on green technology for the future.

The International Monetary Fund has concluded "constructive" talks with the government of Sri Lanka over a possible bailout. The island is facing its worst economic crisis on record, with protests over food, fuel and medicine shortages. Also on the show: why France is faring better than its neighbours when it comes to inflation. Plus FRANCE 24's Madrid correspondent Sarah Morris reports on the Spanish companies suffering from a diplomatic spat with Algeria.

Germany has taken a step towards rationing natural gas by activating the second of three stages in an emergency plan. Officials say that since Russia reduced supplies, gas is now a "scarce commodity". Also in the show: the UK is hit by a second day of rail strikes over job security, pay and the rising cost of living, and high inflation in France prompts a boom in demand for camping holidays.

US President Joe Biden has asked Congress to approve a three-month suspension of a federal tax on gasoline, as soaring energy prices weigh on households and businesses. But the 18 cent per gallon tax represents just a fraction of what's paid at the pump, so will it really help? Also in the show: inflation in the UK hits a fresh high of 9.1 percent, and Haider Rafique, chief marketing officer at OKX, explains the recent crypto market crash and how it could change the industry.

Tech giants such as Meta, Sony and Adobe, together with oversight groups like the World Wide Web Consortium, have created a forum to set standards for the nascent metaverse industry. The move aims to make digital worlds compatible with each other. However, Apple and Snapchat have not joined the outfit. Plus, after being hit by a dramatic fall in visitors from Russia and Ukraine, the Egyptian Red Sea resort of Sharm el-Sheikh is looking to attract tourists from elsewhere. We take a closer look.