Money Talks

Today marks the 31st anniversary of the Iraqi invasion of Kuwait. On the second of August 1990, led by then-President Saddam Hussain, Iraqi forces attacked and occupied neighbouring Kuwait. Panic ensued on the international energy market, as global oil supplies came under threat. The price of crude doubled over the span of a few weeks. Iraqi forces were eventually forced to retreat. But they left a lasting impact on the region's politics and its oil production. Mobin Nasir reports. For more on this, independent energy analyst, Neil Atkinson spoke to us from Paris.

#Iraqi #Kuwait #OilMarkets

We begin in Turkey where at least eight people have died as efforts continue to put out forest fires around the country. The government says 125 out of the 132 fires are now under control and many people have now started returning to their communities. Over the weekend, tourists were evacuated on rescue boats after fires threatened hotels in the Aegean resort town of Bodrum. Hasan Abdullah reports from Manavgat along Turkey's Mediterranean coast. Economist Taha Arvas joined us from Istanbul.

#Turkey #ForestFires #Tourists

A project in western Kenya is using biogas technology to tackle two major pollution problems. Through a special digester, the invasive water hyacinth is being converted into clean cooking fuel. Irem Koca tells us more.

#Kenya #Pollution #Hyacinth

Working from home and unable to go abroad on holiday, many Britons have turned to home improvements during the pandemic. It's led to record demand for building products, with landscaping materials experiencing a huge surge. But it's causing shortages of materials like timber and cement. It means certain projects could be shelved and this could have a lasting effect on the UK's economic recovery, as Oliver Regan explains.

#UKbuildingsupplies #HomeImprovements #PandemicSavings

Free-trading app Robinhood has raised close to 2 billion dollars in its initial public offering. The company's market debut was hotly-anticipated for months, but in the end it was a lacklustre first day of trading. It priced shares at the low end of its range, at 38 dollars a piece. That valued the company at more than 30 billion dollars. Paolo Montecillo has more on what makes the platform so popular. For more, we spoke to Santosh Rao in Princeton, New Jersey. He's the head of research at the merchant bank, Manhattan Venture Partners.

#TradingApp #RobinHood #IPO

Tunisian President Kais Saied has sacked more top officials, including the head of national television station, Wataniya. This comes days after he fired the prime minister, suspended parliament and assumed judicial powers. Saied's been accused of staging a coup but says his moves are constitutional and necessary to address a dire economic situation. Natasha Hussain.

#Tunisia #EconomicPolicies #KaisSaied

The US economy is now bigger than it was before the pandemic after growing 6-and- a-half percent in the second quarter. But the recovery isn't keeping pace with expectations. Inflation is gathering pace and is already above the government's target of two percent. And the government's stepping-up plans to spend trillions of dollars to boost the economy and create more jobs. Mobin Nasir reports. For more on the state of the US economy, we spoke to Professor Joann Weiner. She's the director of the Applied Economics graduate programme at George Washington University, and joins us now from Lake Tahoe in California.

#USGDP #USeconomy #Pandemic

One person's trash is another person's treasure. That saying is particularly relevant today. A survey by Thredup and GlobalData found that 33 million consumers bought secondhand apparel for the first time in 2020, and a growing number are using digital platforms to do so. Kyoko Gasha travels to Brooklyn, New York, to find out what's driving this trend.

#Thifting #OnlineSales #Ecommerce

The World Trade Organization says no consensus has been reached on the waiving of patents for COVID-19 vaccines. India and South Africa say the move would give emerging markets better access to drugs they need to protect their people and boost their economies. But a group of rich countries continues to block the proposal, leaving the rest of the world short on jabs. Paolo Montecillo has more. We spoke to spokesperson for the World Trade Organization, Kieth Rockwell. He joined us now from Geneva.

#VaccineInequality #WTO #TradeDisputes

The UK is experiencing shortages in summer essentials such as garden furniture, outdoor toys and camping equipment. Shipping lines have been disrupted by the pandemic and then made worse by the Suez blockage in March causing long delays and soaring prices. It's a headache for customers waiting for their orders, but it's also a challenge for retailers. Not only have their margins taken a hit, but they could find themselves priced out of the market. Natalie Powell has more.

#ContainerShortages #UKsummer #ShippingDelays