Money Talks

- Australia scraps yield control to combat inflation

- BP reports upbeat Q3 earnings on surging energy prices

- EV start-up Rivian aims for valuation of over $53B in IPO

#ReserveBankofAustralia #BPEarnings #RivianIPO

- Barclays CEO Jes Staley quits over Epstein link

- Hong Kong economic growth slows to 5.4% in Q3

- Ryanair returns to profit in Q2, but sees annual loss

#JesStaley #HongKongGDP #Ryanair

Halloween is one of America's favorite holidays, but almost two years of pandemic restrictions has left businesses that cater to the spooky season struggling to make ends meet.  But according to Prosper Insights and Analytics, American consumers are expected to spend big in 2021, forking out around 10 billion dollars.  Will the record spending spree drag embattled businesses back from the brink? Kyoko Gasha paid a visit to one famous New York shop to find out.

#Halloween #UScostumestores #USholidays

After 30 years of conflict, Somalia is facing a new invisible enemy. The climate crisis has caused unpredictable weather patterns making life more difficult for its nomadic societies. Extreme weather may not only upend traditional life in Somalia, but also derail economic growth in East Africa. And as world leaders meet in Glasgow for the COP26 climate summit starting on Sunday, vulnerable communities will hope to be part of this year's agenda. Motheo Khoaripe reports.

#GlobalHeating #EastAfrica #COP26 #Economy

The eurozone economy grew at its fastest pace in a year thanks to the lifting of coronavirus restrictions.

The combined GDP of the 19 countries sharing the euro expanded 2-point-2 percent from July to September. Compared to the same three-month period last year, domestic output was up 3-point-7 percent. Both numbers are better than expectations. The biggest gain was made by Austria, at 3-point-3 percent, while the laggard was Lithuania, which experienced no growth. The European Central Bank has warned that supply chain bottlenecks around the world may lead to higher consumer prices and choke growth. But monetary authorities say price pressures are likely to be temporary, and add they're in no rush to raise borrowing costs.

#Eurozone #GDP #SupplyConstraints

Global supply chain disruptions and a resurgence of COVID-19 cases are taking a toll on the world's largest economy. US GDP grew just two percent in the third quarter. Officials say exports fell during the period, as did disposable income. Meanwhile inflation continues to rise, leaving policy makers with a delicate balancing act of driving economic activity and curtailing price increases. Mobin Nasir reports. For more on this, economist Joann Weiner spoke to us from Washington. She's the Director of the Applied Economics programme at George Washington University.

#USGDP #Pandemic #Exports

Facebook and its apps serve more than 3-and- a-half billion people worldwide, and generate more than 86-billion dollars in annual revenue. But after the company was accused of spreading misinformation and ignoring safety and privacy concerns, CEO Mark Zuckerberg has announced a new name for the social media giant. Martin Markovits reports. Daniel Ives is a tech sector analyst and managing director at Wedbush Securities. He joins us now from New York.

#Facebook #Meta #MarkZuckerberg

China Evergrande has averted a default for the second time this month, though questions remain over the company's ability to cover hundreds of millions of dollars in liabilities due in the coming weeks. The real estate giant has reportedly sent more than $47M it owed to bond holders. That interest payment was due late last month, but a 30-day grace period gave the company more time before creditors could officially declare a default. Evergrande is one of China's largest home and office builders, but has more than $300B in debt on its books. Einar Tangen, senior fellow at Beijing-based think tank Taihe Institute, helped shed some light on the government response to the crisis.

#Chinaevergrande #Debt #RealEstate

- Putin's order to fill EU storages cools gas prices

- Activist fund Third Point calls for break-up of Shell

- Chip shortage wipes $560M off VW's Q3 profits

#Gazprom #ShellBreakUp #Volkswagen

People in low- and middle-income countries are struggling to get back to work. Their efforts to recover from the pandemic have stalled because they don't have enough vaccines. That's according to a new report by the International Labour Organization. The UN agency says job market conditions have steadily improved in rich countries. But the recovery in the rest of the world has been slower than expected, with working hours likely to remain well below pre-pandemic levels by the end of the year. Let's get more on this now with Dorothea Schmidt-Klau in Geneva. She's a senior economist at the International Labour Organization and co-author of the agency's latest report.

#InternationalLabourOrganization #EmploymentReport #Pandemic #WorkingHours