Business

The US Treasury, Federal Reserve and Federal Deposit Insurance Corporation have unveiled a plan meant to stem any contagion from Silicon Valley Bank's (SVB) failure on Friday. The Federal Reserve will provide an emergency lending facility that will ensure all of the bank's depositors are repaid in full. Elsewhere, the UK government says SVB's UK subsidiary has been purchased by HSBC and Goldman Sachs says a Fed rate hike is no longer expected because of "stress in the banking system".

US President Joe Biden unveils a $6.8 trillion budget proposal with key provisions aimed at boosting American competitiveness against China, while Beijing rails against economic containment and suppression. Plus, a sell-off in US bank shares sparked by a run on a small California lender spreads to Asia and Europe as markets tumble.

The EU has loosened its own rules on state aid to be more competitive against America's sweeping green subsidies. Member states may be able to match the incentives offered by other countries, in order to keep clean tech businesses from shifting their investment. They aren't the only players in the game though: Latin America is poised to become a major producer of renewable energy over the next decade. We take a closer look.

In a letter to the Dutch parliament, the country's trade minister has said exporters of chip technology will have to ask for licences to do business abroad, citing concerns over international security. The Netherlands is home to one of the leaders in chipmaking equipment, ASML. Also in the show, FRANCE 24's Catherine Viette tells us what we can expect from the budget plan US President Joe Biden will unveil later this Thursday. Finally, China's consumer prices rise at their slowest pace in 12 months.

The cost of childcare in the UK is among the highest in the world, and is driving many women to leave the workforce. Access to affordable childcare is a crucial element in addressing gender inequality. On International Women's Day, we also look at efforts to promote female entrepreneurs in the tech industry – Delphine Rémy-Boutang of Digital Women's Day (JFD) says "education, regulation, investment and role models" are all needed. Finally, ECB President Christine Lagarde gives her perspective on being a female leader.

A US congressional report reveals the Federal Trade Commission has made repeated requests for internal communications related to Twitter owner Elon Musk. The agency is concerned that the layoffs at the social media company since he took over could have jeopardised users' data protection. Also in the show, we look at a US Senate bill that could give the US government the power to ban TikTok. Plus, Volkswagen puts plans for a European battery plant on hold in favour of another facility in the US.

Workers at petrol refineries across France are among those on strike against the government's proposed pension reforms. If unions continue the walkouts on a rolling basis, motorists are worried they could face petrol shortages. Also in the show: power cuts in South Africa have weighed more than expected on GDP growth, and US lawmakers prepare to crack down on TikTok.

With China's National People's Congress underway, the government has set out what many are calling an achievable target for economic growth in 2023. The 5 percent objective is the lowest in over three decades and comes as Beijing has lifted most of the restrictions set up during the Covid-19 pandemic. Also in this edition, we look ahead to a day of nationwide strikes against pension reform in France. Finally, iconic chocolate brand Toblerone is forced to change its logo because of strict rules regulating "Swissness".

The Chinese Communist Party is expected to unveil its lowest economic growth target in decades amid an ongoing slump in the country's real estate market. Also on the show: Mexico plans food tariff cuts to confront high inflation, and Franco-Angolan business ties take centre stage as President Emmanuel Macron visits Luanda.

China's official manufacturing sector purchasing managers' index rose to 52.6 in February, well above expectations. This comes amid a strong recovery in demand after Beijing lifted almost three years of Covid restrictions. Stock markets in mainland China and Hong Kong reacted positively to the news. Also on the show, we take a look at the strings attached to the US Chips Act, which will provide subsidies to companies willing to make semiconductors on American soil.