Money Talks

In China, tech behemoth Alibaba touches just about every part of everyday life. From shopping and banking, to messaging and entertainment, the company has become essential to more than half a billion users. But it's looking for more areas to expand. And that's put it in the cross-hairs of an even more powerful entity: the Chinese government. On Monday it fined Alibaba and Tencent-backed firm China Literature 76-thousand dollars each for not properly reporting deals under new anti-trust rules. Miranda Lin has more.

#Alibaba #ChinaManufacturing #SinglesDayParty

Britain and the European Union have announced their Brexit negotiations are not grinding to a halt. Both say they're willing to go 'the extra mile' to find a last-minute trade deal. The announcement suggests there may have been progress over the issues of fair competition and access to fishing in UK waters, ahead of a December 31st deadline. Simon McGregor-Wood reports. For more on this, Thomas Sampson joined us from Edinburgh. He's an assistant professor of economics at the London School of Economics.

#EU #UKbrexit #TradeTalks

Germany's health ministry says it expects to receive 11-million doses of Pfizer BioNTech's COVID-19 vaccine by March. Three to four million of those vaccine doses will be available as soon as January.

As Germany waits for delivery, the government's announced a strict lockdown for the rest of the holiday season starting from Wednesday until January tenth. The country recorded nearly 30-thousand new infections and close to 6-hundred deaths from COVID-19 on Friday. The strict lockdown conditions will include the closure of non-essential shops, the shutting down of schools and the prohibition of public alcohol consumption. Europe's largest economy plans to cushion the economic impact through 13-point-3 billion dollars in support for businesses. For more on this, our correspondent Sibel Karkus gave us the latest from Stuttgart.

#Germany #Pfizer #Covid19Regulations

For two weeks now, tens of thousands of Indian farmers have been blocking routes into major cities, protesting against the government's new agriculture laws.. Negotiations between unions and the government have ended in a stalemate.. and neither side seems prepared to back down. Ishan Russell has this report.

#IndianFarmers #AgricultureLaws #CropPrices

The COVID-19 pandemic has brought the food and beverage industry to its knees this year. Studies show that dining indoors is risky, even with proper ventilation systems. Many restaurants have had to adapt to stay afloat. Adesewa Josh reports.

#StarBucks #Lockdowns #FoodDeliveries

The European Central Bank is pressuring E-U member governments to beef up their fiscal response to the pandemic, to ensure the bloc's rapid economic recovery. Following its policy meeting on Thursday, the monetary authority said it's doing its part by pouring more cash into the financial system. The ECB has added a further 600 billion dollars to bond buying scheme, bringing the total of to 2.1 trillion dollars. The Eurozone economy is forecast to shrink by 7.3 percent in 2020 but is expected to rebound next year as vaccine rollouts begin.

#ECB #PandemicEmergencyPurchaseProgramme #PandemicStimulus

Short-term rentals provider, Airbnb, may have suffered during this pandemic as travel takes a hit.. but it's the latest company to rake in billions of dollars through an initial public offering. Its shares were priced at 68-dollars on the New York Stock Exchange on Thursday, but opened much higher. And the cash injection comes just as Airbnb looks to boost advertising and attract more users. For more on this, Santosh Rao joined us from Princeton, New Jersey. He's head of research at Manhattan Venture Partners.

#AirBnB #IPO #Pandemic

A large group of red and blue states in the US have banded together to against a common enemy: Facebook. They've joined the Federal Trade Commission and filed lawsuits to force the social media giant to give-up two of its most prized jewels. It's the latest regulatory backlash against tech firms, which policymakers say are growing too powerful and predatory. Paolo Montecillo reports. For more, we spoke to Santosh Rao. He's the head of research at Manhattan Venture Partners, and joins us from Princeton in New Jersey.

#TechGiants #USstates #Facebook

As the world was forced to stay home during the pandemic, home food orders surged. And the biggest delivery app in the US, DoorDash, is capitalising on this boom by going public. The Silicon Valley star was one of the most anticipated IPOs of the year. It raised 3-point-37 billion dollars in its debut on the New York Stock Exchange. And while it faces steep competition and uncertainties ahead, investors appear ready to go all-in. Miranda Lin explains.

#DoorDash #FoodDeliveryService #IPO

Most countries of the world are falling behind their commitments to reduce pollution, according to the UN Environment Programme. It says they must prioritise green technologies to protect the planet and revive their economies from the COVID-19- induced economic slump. UNEP's annual emissions gap report finds that lockdowns and other COVID-19 restrictions helped reduce global carbon dioxide emissions by 7-percent this year. For more on this, Anne Olhaff joined us from Copenhagen. She's head of strategy at the UN Environment Programme's office at the Technical University of Denmark.

#CarbonFootprint #UnEmissionsGap #ClimateCrisis