Money Talks

Despite rising international pressure, the world's major oil producers are sticking to their plan to only gradually increase output. In a meeting on Thursday..

..OPEC and its allies said they will continue to raise oil supplies by just 400-thousand barrels per day, over the coming months. The US had reportedly demanded a daily increase of up to double that amount. Prices of the international benchmark Brent crude have remained above 80-dollars per barrel since October.. and economists say that's fuelling inflation around the world. Mobin Nasir reports. Let's get more on this now with Ellen Wald in Jacksonville, Florida. She's president of Transversal Consulting and author of the book Saudi Inc.

#OPEC #OilPrice #BRENT

- India cuts taxes on petrol, diesel to fight inflation

- Toyota reports upbeat Q2 profit, upgrades outlook

- Credit Suisse scales back investment banking

#IndiaFuelTax #ToyotaEarnings #CreditSuisse

The era of ultra-cheap money in the US is coming to an end, with authorities worried that too much cash in the system will fuel rising consumer prices. The US Federal Reserve has announced it'll start tapering its pandemic-driven bond-buying program this month. Monthly purchases of government bonds and mortgage-backed securities currently stand at $120B. Officials will trim that amount by $15B in November, and again in December. At that pace, the central bank's stimulus would cease by June of next year. AvaTrade Chief Market Analyst Naeem Aslam joined Newshour to talk about the move’s effect on asset prices.

- Turkey’s annual inflation rises to 19.89% in October

- BMW posts upbeat Q3 results on higher car prices

- Shares in Kakao Pay surge 150% on Seoul debut

#TurkeyInflation #BMWEarnings #KakaoPay

Silicon Valley firms are looking at the lucrative Chinese market and saying 'it's not worth it.'

Yahoo has become the latest American tech company to exit the world's second largest economy. In its announcement, the internet services provider cited an "increasingly challenging business and legal environment." Epic Games, the maker of Fortnite, is also withdrawing from the world's largest video gaming market amid tougher regulations. Last month, the Microsoft-owned professional networking site Linked-In announced it was leaving the Chinese mainland, ahead of strict privacy laws that took effect on November the first. Popular Western platforms like Facebook, Google, Instagram and Youtube have been banned in China for years.

#Yahoo #China #BusinessRegulations

After 18 months of coronavirus restrictions, Brazil's largest city Sao Paulo is breathing again, thanks in part to open-air co-working spaces. Ludovica Brignola explains.

#Brazil #SharedWorkSpaces #PostLockdown

Americans have been fleeing their jobs in record numbers during the COVID-19 pandemic. Working from home gave many people time to reassess their priorities. The phenomenon has been dubbed "The Great Resignation". Kyoko Gasha has more .

#Resignations #COVID19 #CareerPaths

Scientists say the wildfires in the Mediterranean region this summer were some of the worst ever recorded. They underscore the destructive impacts of global heating. Rahul Radhakrishnan visited one of the affected areas in Turkey and sent this report.

#Turkey #Wildfires #Mediterranean

Some of the world's largest businesses are teaming-up to bankroll renewable energy projects in low- and middle-income countries. Amazon founder Jeff Bezos and private sector charities have announced a new alliance on the sidelines of the global climate conference in Glasgow. Their aim is to help poor nations transition away from dirty fuels like coal and diesel, without interrupting their economic development. Michael Jacobs is a professor of political economy at the University of Sheffield in London. He says private sector could play a major role in mitigating the climate crisis.

#RenewableEnergy #ClimateCrisis #COP26

The economic cost of harmful carbon emissions may be much higher than previously thought. Scientists say the long-term effects of greenhouse gases could cut global GDP by up to 37-percent by the year 21-hundred. The revelations come just as world leaders are meeting for the COP26 climate summit in Glasgow. They're signing a number of agreements to cut global heating and protect rainforests. But scientists and climate activists say it's not enough. Mobin Nasir reports. We were joined by Jarmo Kikstra in Vienna. He's a researcher at the Centre for Environmental Policy at Imperial College London. And Jacobo Ocharan is global lead of the Oxfam Climate Initiative who's at the COP26 Summit in Glasgow. Welcome to you both..

#FossilFuels #Emissions #GlobalGDP