Business

Brazilian President Luiz Inacio Lula da Silva is heading to China this week to meet with Xi Jinping, the leader of Brazil's most important trade partner. Lula will be accompanied by a delegation of over 200 businesspeople. We take a look at what's behind the record flow of exchanges between Beijing and Brasilia last year. Meanwhile, China and Australia are also improving their strained ties: the two sides have reached an agreement on rolling back punitive tariffs on barley.

After building an electric vehicle factory in Shanghai in 2019, the US company has signed an agreement to build another plant in the city, this time to make large-scale energy storage units known as "megapacks". With the agreement, Elon Musk's company is doubling down on its China investments, amid increasing pressure from Washington on US companies to divest. Also, while India is set to become the world's most populous country this week, women there are seeing their place in the workforce decline.

We look at why the IMF's predicted economic growth of just 3 percent, the lowest forecast since 1990, could hurt developing nations most. We also take a closer look at Airbus's deal in China, as French President Emmanuel Macron meets his Chinese counterpart Xi Jinping. Finally, we find out why Sean "Diddy" Combs has been paying Sting $5,000 a day, and has been doing so for years.

French President Emmanuel Macron and EU Commission President Ursula Von der Leyen begin a three-day visit to China this Wednesday, with a delegation of more than 50 business leaders in tow. But while there is eagerness to revive ties with a Chinese economy that's opening up again, other geopolitical considerations could get in the way of business. Also in this edition, US healthcare giant Johnson & Johnson proposes a $8.9 billion settlement over allegations that its talcum powder caused cancer.

Disney CEO Bob Iger has criticised Florida governor and Republican presidential hopeful Ron DeSantis as being "anti-business" and "anti-Florida". The comments are part of an ongoing feud between the entertainment giant and DeSantis that started when Disney voiced its opposition to a state law banning education on LGBT issues in schools. Also on the show, we look at oil prices soaring 6 percent on Monday on the back of a surprise supply cut announced by OPEC+. Finally, Britain's King Charles III gets his own stamps.

Britain has clinched a deal to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and become the trade bloc's first new member since its inauguration in 2018. It's a win for the UK, which had been looking to bolster global trade ties since leaving the European Union. Plus, with the US expected to announce guidance for tax breaks on new electric cars, we take a closer look at the conditions set under the Inflation Reduction Act.

Disney has laid off Isaac ("Ike") Perlmutter, the head of Marvel Entertainment, as part of its cost-cutting plans. The company began cutting 7,000 jobs this week in an effort to reduce $5.5 billion in costs. Also, Portugal scraps VAT on basic food products in a bid to fight inflation. Plus, the man who invented mobile phones half a century ago tells people to take their eyes off their smartphones.

US lawmakers say the embattled bank Credit Suisse has violated the terms of a plea deal related to tax evasion. A two-year investigation suggests the lender has continued to conceal the bank accounts of wealthy Americans. Meanwhile, UBS has brought back former CEO Sergio Ermotti to lead its takeover of Credit Suisse. Also in the show: Vladimir Putin makes the unexpected admission that Western sanctions could have a negative impact on the Russian economy.

As the European Union is poisedto agree tougher targets to expand renewable energy by 2030, members remain split over whether to recognise nuclear power as a renewable energy source and allow it to contribute towards the EU's goals. 

Plus, Adidas files and quickly retracts an opposition to the Black Lives Matter global network's trademark application for register the movement's three parallel stripes.

Five of France's biggest banks are facing scrutiny in an ongoing investigation into possible tax fraud. BNP Paribas and Société Générale were among the lenders whose Paris offices have been raided by French prosecutors. They're accused of helping facilitate tax avoidance related to dividend payments. Also in the show - Chinese tech giant Alibaba is split into six separate units, a day after the public reappearance of its co-founder, Jack Ma.