Money Talks

As the world economy charts a path to COVID-19 recovery - the film industry is directing a comeback of its own. The 74th Cannes Film Festival has returned after being canned last year for the first time since World War 2. It's the first major international cinema event to attempt an essentially full edition. Organisers are banking on strict health and safety protocols to keep cameras at the world's biggest film festival rolling.

#CannesFilmFestival #Pandemic #SpikeLee

Free cash for qualified residents. It may sound like a catchy slogan, but in more and more cities across the US it's becoming a reality. The concept, known as Guaranteed Income, involves giving targeted residents regular cash payments, free to spend however they'd like. The system is increasingly being seen as a way to address economic and racial inequality. To learn more, Kyoko Gasha paid a visit to a town in New York state that's piloting the initiative.

#UniversalIncome #USeconomy #Poverty

We begin with the international oil price benchmark Brent, which has soared to almost 78 dollars a barrel. That's after OPEC and its allies failed to strike a deal on production levels as the global economy recovers. At the heart of the matter is a dispute between two of the group's closest members, Saudi Arabia and the United Arab Emirates. Paolo Montecillo has the details. For more on this, we were joined by Ellen Wald. She's an energy industry analyst and the president of Transversal Consulting in Jacksonville, Florida.

#BrentCrude #SaudiArabia #OilPrices #UAE

Over the past year and a half, the cost of almost everything has risen dramatically in Lebanon, because of hyper-inflation and the devaluation of the currency. That includes necessities like clothes. But for those struggling, a local social enterprise offers some help. Imogen Kimber reports from Beirut.

#Lebanon #Thrifting #UsedClothes

A ban on certain single-use plastic items came into effect in the European Union over the weekend. The sale of 10 products, including plastic straws, cutlery and plates is now outlawed under the new directive. Matt Gooderick visited a company helping Europe move away from plastics.

#SingleUsePlastics #EuropeanUnion #PlasticPollution

Fissures among the cartel of the world's largest oil exporters are threatening to derail an agreement to regulate global supplies of crude. OPEC and its allies had expected to reach a deal to raise output by 400,000 barrels per day, in monthly instalments between August and December. But they've been unable to agree on how much production each country is allowed to add over this period. The United Arab Emirates says the cartel has unfairly limited its quota, below the country's historic contributions to global supplies. But Saudi Arabia and Russia are reportedly adamant that all countries must stick to the same formula that's been employed by OPEC+ since the onset of the pandemic. Naeem Aslam is the Chief Market Analyst at AvaTrade. He says OPEC+ will want to resolve this dispute to keep its market share in the world's oil market.

It's the end of an era at the world's largest e-commerce firm. Amazon founder Jeff Bezos is giving up the post of CEO to devote his attention to other parts of an ever-growing portfolio. Paolo Montecillo has more on Amazon's future, and what's next for the world's richest man. We were joined by Daniel Ives. He's an equity research analyst specialising in the technology sector, and is the managing director of Wedbush Securities in New York.

#Amazon #JeffBezos #Ecommerce

President Joe Biden has ordered US intelligence agencies to investigate the latest ransomware attack to rock the country. Security firm Huntress Labs believes the Russia-linked REvil organisation is behind the hacking of hundreds of American businesses. It's the latest in a string of cyberattacks that have raised concerns about national security for the Biden administration. Fore more on this, we spoke to Pierluigi Paganini. He's a cybersecurity and intelligence expert, and CEO at computer software firm Cybhorus. He joined us from Napoli, Italy.

#CyberAttacks #NationalSecurity #Ransomware

An EU-wide Digital COVID-19 Certificate went into operation on Thursday. All 27 EU member states are taking part in the system, which is designed to open up safe travel across the bloc. It includes a QR code on a mobile phone showing proof of vaccination and the results of COVID-19 tests. EU officials hope it will green-light free movement and boost tourism. But the new system still allows countries to impose their own restrictions. Simon McGregor-Wood has more.

Brent crude hit 76 dollars a barrel on Thursday on the prospect of strengthening demand. Oil prices are increasing, even as OPEC and its allies consider boosting output over the next few months. Back in May 2020, the 24-nation group known as OPEC+ agreed to make historic output cuts of almost 10 million barrels per day. It slashed production as the coronavirus pandemic wiped out demand. The curbs were tapered to eight million barrels a day, in the last quarter of 2020. Ellen Wald joined us from Jacksonville, Florida. She's the president of the energy consulting firm, Transversal Consulting.

#OPEC #BrentCrude #OilPrices