Inflation continues to squeeze American households with an 8.6% rate in May, the highest since 1981. Food and energy prices lead the rally with double-digit increases. A consumer and a business owner in different parts of the country share their struggles as we ask Peter Jankovskis, vice president of Arbor Financial Services in Chicago, for his input on how the Federal Reserve may react to this rise.

The US is dropping its Covid test requirement for air travellers and Japan has reopening its borders to holidaymakers from almost 100 nations after two years of strict restrictions. We talk to Yukari Sakamoto who takes tourists on tours of food markets in Tokyo.

The president of Venezuela, Nicolas Maduro, is on his first international trip for three years for political and economic talks. He has visited Turkey, Algeria and Iran after being excluded by the US from the Summit of the Americas. Venezuelan economist Francisco Rodriguez explains the current situation of the country's economy.

The government of Saudi Arabia has introduced a lottery system for Westerners who want to attend year's Hajj pilgrimage to Mecca. We ask the director of The Ayaan Institute, Jahangir Mohammed, about the controversy this has created.

As coronavirus eases, Japan is opening up to tourists, but with strict rules in place. They will have to be part of a package tour, and must wear face coverings in all public places. Yukari Sakamoto takes tourists on tours of food markets in Tokyo, and brings us her perspective on the latest move. And we hear about the economic impact a lack of tourists has had on Japan, from the BBC's Mariko Oi. Also in the programme, Saudi Arabia has introduced a lottery system for westerners hoping to undertake their Hajj pilgrimage this year. That has led to complaints from people who had already booked flights and hotels, and now fear they'll be denied permission to visit Mecca. We find out more from Sean McLoughlin, who is Professor of the Anthropology of Islam at the University of Leeds, and specialises in the industry surrounding the Hajj. The UK Competition and Markets Authority is to investigate Google and Apple for a possible duopoly in their Chrome and Safari web browsers on mobile devices. Andrew Griffin is technology editor of the Independent news website, and discusses the implications. Plus, the BBC's Elizabeth Hotson pays a visit to the UK's Electromagnetic Field event, a four-day jamboree of original thinking and all things nerdy.

Today's edition is presented by Rob Young, and produced by Nisha Patel, George Thomas and Elizabeth Hotson.

The United States vehicle safety regulator is to upgrade its investigation into the autopilot function of Tesla electric cars after more than a dozen of them crashed into parked first-responder vehicles in four years. We hear more from our North of America Business Correspondent Michelle Fleury and Columbia University's economist Cary Leahey.

In its first report since Russia's invasion of Ukraine, the United Nations Food and Agricultural Organisation has warned that poor countries will have to pay more money to receive less food this year. One of these nations is Ethiopia, where Doctors Without Borders are seeing more children die of malnutrition. We speak to Raphael Veicht, their Emergency Coordinator in Addis Ababa.

After decades of stable or falling prices, a 2.5% inflation rate has come as a shock for Japanese shoppers. The BBC's Mariko Oi reports from Tokyo.

Algeria is "immediately" suspending a 20-year friendship treaty with Spain, after Madrid reversed its neutral stance towards Western Sahara. Algerian researcher at the University of Glasgow Zine Ghebouli explains why.

(Picture: Tesla's logo. Picture credit: Reuters)

We hear why Russia's invasion of Ukraine could cause the global food import bill to rise to a record $1.8tn this year from Upali Wickramasinghe, senior economist at the FAO. And we find out about the challenges faced by people in Uganda with food prices from Nebert Rugadya, who is a business reporter in Kampala. Also in the programme, the BBC's Mariko Oi reports from Tokyo on why inflation in Japan is significantly lower than in many other parts of the world. There's been an overhaul of drugs laws in Thailand, where it's now legal to cultivate marijuana, and some consumption of it is now also allowed. The BBC's Jonathan Head has been to visit some farms in the north of the country, where cannabis plants are being handed out to farmers. Plus, energy price rises as a result of the conflict in Ukraine have focused attention on the prospects for more renewable energy. But one challenge is how to store solar and wind power so that it can be used when the sun isn't shining or the wind isn't blowing, and the BBC's Hannah Bewley explores a range of promising new technologies aimed at tackling the issue.

'No country' will be left untouched by cost of living crisis, says the UN chief Antonio Guterres as pressure on Russia to end blockade of Ukrainian ports grows. Increase in prices of energy and food can be felt everywhere, but for nations in the Horn of Africa the situation is dire as people in rural areas are on the brink of starvation. We talk to Hassan Khannenje, director of Horn International Institute for Strategic Studies.

India has increased interest rates for the second time this year, with an increment of 0.5%. The country is struggling to control rising inflation, which stands at 8%. Sanjay Aggarawal of Paramount Cables Group and Pradeep Multani of PHD Chamber of Commerce and Industry tell us more.

A TikTok executive has stepped back after claims that he participated in an aggressive work culture. We hear from Financial Times reporter Cristina Criddle about the allegations.

Walmart heir Rob Walton and his family have won the bidding to buy NFL's Denver Broncos. The Walton-Penner family is reported to have made a bid worth 4.65 billion dollars. Sports Business Journal's Ben Fischer explains the details.

(Picture: UN Secretary-General Guterres. Picture credit: European Pressphoto Agency)

Talks were held between Russia and Turkey on a UN plan to restart Ukrainian grain exports. Western countries have accused Russia of risking global famine by shutting Ukraine's Black Sea ports. Arnaud Petit is executive director of inter-governmental group the International Grains Council, and discusses the challenges involved in getting Ukraine's grain supplies moving again. Also in the programme, the UN's World Food Programme is working with the California ride-hailing app Uber to use its technology to help move emergency supplies of food and water within Ukraine. The BBC's Zoe Kleinman explains how the software might help lower the risk of delivery trucks becoming targets, by enabling supplies to be moved around in much smaller vehicles. Plans for compulsory quotas for women in senior positions have been agreed by the European Parliament and EU member states. A third of all directors in companies employing more than 250 people will need to be women within the next four years. We find out more from Lara Wolters, who is a Dutch socialist member of the European Parliament, and who also led negotiations on the change. Plus, the BBC's Vivienne Nunis reports on concerns around oil development in the Congo basin which may threaten peatland storing 30bn tonnes of Carbon Dioxide.

Today's edition is presented by Mike Johnson, and produced by Nisha Patel, Elizabeth Hotson and Gabriele Shaw.

David Malpass, president of the World Bank Group, tells Sam Fenwick about the economic challenges countries are facing globally, and how they might continue for another year. As consumer credit hits a record high in April for Americans, we speak to Aviva Investors' Susan Schmidt about how the US economy is fairing. As India continues to tackle temperatures of over 40 degrees Celsius, we speak to Indian journalist Mayank Aggarwal on the ambitious climate targets set by the government and how billionaires are throwing their money behind solar energy. We also hear from South Americans who are heading to the United States in a migrant caravan, in time for a meeting of Western Hemisphere leaders in Los Angeles, and speak to freelance journalist Lilian Perlmutter about the journey. (Picture: World Bank Group logo. Picture credit: Beata Zawrzel/NurPhoto via Getty Images)

Sri Lanka's government says it needs $6bn to maintain citizens' basic standard of living. Sajid Nazmi is an IT worker in the capital Colombo, and discusses the impact of the country's financial crisis. And political economist Ahilan Kardigamar of the University of Jaffna talks us through what the government is trying to do to alleviate the situation. Also in the programme, Wednesday this week marks World Ocean Day, which aims to raise global awareness about the health of our seas. The campaign group Oceana has organised a marine expedition in the Alboran Sea off the coast of Spain, to document levels of plastic waste there. We find out more from marine biologist Ricardo Aguilar, who is on board the monitoring boat. The BBC's Rahul Tandon reports on the economic challenges caused by a severe heatwave in India. Plus, we hear from Politico reporter Peter O'Brien about a move by the European Union to standardise charging cables for smartphones, tablets and digital cameras.

Today's edition is presented by Mike Johnson, and produced by Sara Parry and George Thomas.

The Prime Minister of the UK secured the support of almost 60% of his party after many rebel politicians issued a vote of no confidence, we speak to our UK political correspondent Rob Watson to find out what this could mean for Boris Johnson. We ask American financial expert Peter Jankovskis what might happen to the British pound after this vote. As a major four day work week trial begins in the UK, we speak to Heather Payne, CEO of Juno College in the Canadian capital of Toronto, and is one of the first companies to adopt a four day working week in the country to find out the surprising effects the change has had on her school and staff. Heads of state from across the Americas are also heading to the United States to discuss inflation, climate change and migration, and we're speaking to the Antiguan Bardudan ambassador to the US, Sir Ronald Sanders who is attending the summit about what he hopes to discuss, and why Cuba and Nicaragua aren't invited. (Picture: British Prime Minister Boris Johnson. Picture credit: LEON NEAL/POOL/AFP via Getty Images)

The most extensive trial yet of a four day working week is now under way in the UK. More than 3,000 workers at 70 companies will work a day less without having to increase hours over the four remaining days. Edward Siegel is chief executive of Charity Bank, which is taking part in the trial, and tells us why he signed the organisation up. And we hear about some of the possible problems that might be encountered from Abigail Marks, professor of the future of work at Newcastle University. Also in the programme, negotiators from almost 200 countries are meeting in Bonn in Germany for talks to inspire fresh action on tackling climate change. Eddy Perez of campaign group Climate Action Network Canada is one of the attendees, and discusses the mood at the gathering. The budget airline Ryanair is facing criticism in South Africa, where it has been requiring South African nationals to take a test in Afrikaans, amid concerns about the high number of fake passports circulating in the country. The BBC's Nomsa Maseko explains why the move has led to accusations of racial discrimination. Plus, the BBC's Clare Williamson reports on concerns that some older people are getting left behind as banks close branches and move online.

Today's edition is presented by Mike Johnson, and produced by Nisha Patel, George Thomas and Gabriele Shaw.