Money Talks

We begin our show with the COP-26 climate conference in Glasgow, where world leaders have been meeting for the last two weeks, in an effort to reach a consensus on how to stop global heating. The private sector is promising to spend unprecedented amounts of money to wean the world economy off fossil fuels. Governments have also unveiled their roadmaps to a more sustainable future. But many of those promises have been criticised by activists who want to see more ambitious targets being set. Paolo Montecillo reports. For more, we were joined by Eddy Perez is the international climate diplomacy manager at Climate Action Network Canada.

#COP26 #ClimateChange #WeakPolicies #Pledges

- Malaysia's economy shrinks 4.5% in Q3 on virus curbs

- Turkey's industrial output, retail sales rise in September

- AstraZeneca to start taking profits from vaccine sales

#MalaysiaGDP #TurkishEconomy #AstraZeneca

China Evergrande averts default by making last-minute payment

The heavily-indebted Chinese property developer, Evergrande, appears to have averted default with a last-minute bond interest payment. Several investors reportedly received overdue payments on three bond tranches, which were due on Wednesday. The cash-strapped company had missed interest payments on bonds totaling 148-million dollars last month.

UK economic growth slows to 1.3% in third quarter

The UK's economic recovery lost steam in the third-quarter due to global supply chain challenges. Official figures show GDP expanded 1-point-3 percent from July through September, compared with 5-and- a-half percent in the second quarter. The world's fifth-largest economy is still 2-point-1 percent smaller than it was in the last quarter of 2019, before the pandemic.

Turkey's current account surplus widens in September

And Turkey has posted a current account surplus in September for the second consecutive month, on the back of a jump in tourism revenue. The surplus came in at 1-point-6 billion dollars, widening from the 528-million dollars recorded in the previous month. Turkey's tourism income has more than doubled from a year ago to 3-point-8 billion dollars.

- Google loses appeal against $2.8B EU antitrust fine

- China's gaming crackdown hits Tencent Q3 revenue

- Rivian prices IPO above range to raise over $11.9B

#GoogleAntitrustCase #TencentEarnings #RivianIPO

The UK government is investing heavily in green infrastructure in a bid to encourage people to ditch their motor vehicles to reduce carbon emissions. As a result, some businesses are now turning to pedal power in order to get the job done. Oliver Regan reports.

#UKdelivery #Ecargo #ZeroEmissions

Chinese stocks are set for their biggest one-day loss in two months as price pressures continued to mount in the world's second largest economy. Benchmarks in Shanghai and Hong Kong are down more than one percent. That's after China's statistics bureau said producer prices in October climbed 13-and-a-half percent, the fastest rate in 26 years. Higher commodity prices and output curbs caused by a power shortage have led to higher costs for China's factories. Companies are also starting to pass on those expenses to their customers. And households are dealing with the effects of bad weather in some parts of the country. That's made food like vegetables, meat and cooking oil more expensive. As a result, consumer prices rose faster than expected at 1-and-a-half percent, the most in more than a year.

#China #ChineseEconomy #AsiaMarkets

Cars are one of the largest sources of carbon emissions, which is the primary cause of global heating. But the automotive industry is starting to change lanes, with major manufacturers churning out more electric vehicles than ever before. That's in response to growing demand from consumers, as well as corporations. Paolo Montecillo reports. For more on this, let's go to Jim Holder in Hampton. He's the editorial director at Haymarket Automotive.

#Carmakers #ElectricVehicles #RentalFirms

As participants at the COP26 climate talks discuss how science and innovation can help fight the climate crisis, some scientists are pushing for mass adoption of technology that sucks harmful emissions out of the atmosphere. The world's largest direct air capture facility began operating in Iceland this year. Its developers say the same technology could be used across the world. But rolling-out these and other initiatives would require large amounts of funding. And negotiators in Glasgow have so far failed to come to any agreement on who will foot this bill. Mobin Nasir reports. We spoke to Jamie Beck Alexander in Duluth, Minnesota. She's the director of Drawdown Labs, which is a private-sector testing ground for accelerating the scaling of climate solutions.

#Iceland #GeothermalPowerPlant #GreenTech #CarbonEmissions

With the second week of Glasgow's COP26 climate conference in full swing, the focus of Tuesday's presentations is on gender. According to the United Nations, 80-percent of people displaced by the climate crisis are women and children. Yet women play a critical role in combatting global heating through their local leadership of sustainable resource management in the household, and at a community level. Our correspondent Sarah Morice takes a look at a female-led project in India which is working to safeguard a quickly vanishing rainforest. Charity Migwi joined us from Nairobi, Kenya. She is an environmental and climate activist from Kenya. She is also a Regional Campaigner at 350Africa.org.

#WesternGhats #Conservation #ClimateAction #Inequality

- General Electric to split into three separate companies

- Evergrande raises $145M ahead of key payment deadline

- Bayer's crop unit head quits after disappointing results

#GeneralElectricSplit #Evergrande #LiamCondon