People & Profit

Insurance policies are indispensable for most consumers and businesses around the world. But with the cost of living soaring, so has the price of insurances. A survey of households in the United States and Europe suggests nearly half of them have seen their insurance premiums go up in the last year, but nearly eight in 10 have nevertheless stuck with their existing policies.

Federal Reserve Chair Jerome Powell says he won't cause a deep recession but that "pain" is necessary to fight inflation. To curb the largest price increases in four decades, the US Federal Reserve has been raising interest rates this year. "The Fed is doing a bad job because they don't have the money supply on their dashboard," says Steve Hanke, a professor of applied economics at Johns Hopkins University. "The monetary policy revolves around the growth rate and the money supply; that is the key, not interest rates," he tells FRANCE 24.

"The most sustainable garment is one you keep for the rest of your life." Livia Firth, co-founder and creative director of Eco-Age, says the fashion industry has been turned upside down by the fast fashion business, but that consumers and designers can reverse the trend. "The world has been addicted to consuming, like we've been addicted to sugar. We now have to wean ourselves [off that trend] and understand that it's not necessary to constantly change our wardrobe. In the long term you actually save a lot of money," she tells FRANCE 24.

Economist Jayati Gosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for the Reform of International Corporate Taxation. The ICRICT is calling for emergency taxes on multinational corporations to help deal with the inflation crisis and growing government debt.

As the UK mourns the death of Queen Elizabeth II, we delve into the finances of the British monarchy and what could change. With assets from castles and sporting grounds to jewels and art, the Royal Family is estimated to have more than €20 billion in personal wealth. Does the monarchy costs more to British taxpayers than it brings in? Kate Moody discusses this and more with Dr Laura Clancy, a lecturer at Lancaster University and author of "Running the Family Firm: How the Monarchy Manages Its Image and Our Money".

Will Europe have enough energy to make it through the winter, as Russia tightens the taps? Fatih Birol, Executive Director of the International Energy Agency, thinks so. He tells FRANCE 24: "I believe this winter will be a major energy test for Europe, but at the same time it is a test for solidarity among European countries. If we fail this energy test, the implications may well be beyond energy."

The pandemic and a weak economic recovery have pushed back progress on closing the gender gap around the world. Saadia Zahidi, Managing Director of the World Economic Forum, says that issues including family care policies, an increasingly digital economy, and ongoing struggles in certain industries have all been setbacks for women. The WEF Global Gender Gap Report 2022 now projects it will take 132 years to reach gender parity.

More than five million Ukrainian refugees have fled the country since Russia's invasion, and many are seeking jobs in host countries throughout Europe. The Tent Partnership for Refugees has launched a new initiative, which aims to integrate displaced Ukrainian women into the workforce in the EU. Dozens of major European corporations have signed on to the Sunflower Project.

Semiconductor shortages will "still be a hurdle" for the car industry throughout the rest of 2022, Citroën CEO Vincent Cobée tells FRANCE 24. But he thinks 2023 could be a turning point. In the last 18 months, the EU has seen a "substantial acceleration" towards electric vehicles – Cobée says the adoption is "quicker than we expected some years ago". Nevertheless, he admits the 2035 target for phasing out petrol and diesel cars is "a very ambitious bet that requires a very substantial amount of investment", including in the charging infrastructure across the bloc.

Has the pandemic changed what tourists are looking for? In this edition we dive into the new trends and the impact of rising inflation, as well as how staff shortages could hamper the liftoff of the aviation sector. Plus we head to a theme park near Paris where attendance figures are booming after a rollercoaster two years.