World Business Report

The Italian Prime Minister Giorgia Meloni has formally told China it will leave their Belt and Road Initiative. We find out what this means for their relationship going forward. We examine tech giant Google’s long-awaited answer to Chat GPT, but will their new model called Gemini rival the AI space? And we hear how a new hybrid rice from South Korea is going to help the African economy.

Guyana’s military is on high alert after President Nicolas Maduro of neighbouring Venezuela issued oil extraction licences in the disputed territory of Essequibo. We speak to the mayor of a town in the region. Severe droughts in Spain have impacted the olive oil harvest causing prices to soar, but what does this mean for oil producers. K-pop girl band Black Pink have announced they will be staying together find out why on the programme.

It has been one year since G7 nations and the EU imposed a $60-per-barrel ceiling on Russian crude oil. Elina Ribakova, a senior fellow at the Peterson Institute for International Economics, warns that Russia is getting around the price cap by using a shadow fleet of tankers run by operators outside the western system. Also on the programme, we find out why farmers in France will be protected against noise and smell complaints, and can cinema chains ban customers from sneaking snacks into the cinema?

The credit rating agency is concerned about the country's rising debt and economic slowdown. We find out what it will take for China to gain back the markets' trust. An attack on three commercial vessels crossing the Red Sea has sparked doubts about the safety of one of the world's key shipping routes. We look at the potential consequences for the maritime industry. And the trailer of the sixth game in the Grand Theft Auto gaming series was leaked online. We get the latest.

The UK government has announced measures to cut immigration which includes plans to raise the minimum salary required for foreign workers to be eligible for a work visa. We find out how this will affect the UK's workforce. We hear from a lawyer involved in the Purdue Pharma bankruptcy settlement before the US Supreme Court. He'll give us his view of what could happen if a $6 billion deal is overturned. And we look at how new environmental regulations in the EU will affect the fashion industry.

The Swedish music streaming platform will axe 17% of its workforce to reduce costs blaming rising borrowing prices. We get the latest. A referendum in Venezuela has given overwhelming backing to the Caracas government's bid for the Essequibo territory, which is currently under the control of neighbouring country Guyana. We look into how the discovery of vast oil reserves has fuelled the dispute. And the United Nation's Special Envoy on Climate Action and Finance, Mark Carney, reflects on the goals of the COP28 summit.

The International Court of Justice has warned Venezuela to stop any action that would alter Guyana’s control over a disputed territory, in the Essequibo region, days ahead of a planned referendum.And Kristin Schwab, from our American partner, Marketplace, takes a look at the history of the shopping centre or "mall" and where it stands today.

World leaders attending the COP 28 climate change summit in Dubai have signed up to a declaration aimed at reducing emissions from food production. The declaration says there is an urgent need to adapt food and agricultural systems as food production is responsible for a third of greenhouse gas emissions. But there are concerns today's declaration doesn't go far enough.And - Elon Musk's Tesla electric vehicle company has finally delivered the first batch of its long-awaited Cybertruck to its customers. Costing just over $60,000 dollars and with a range of 340 miles, the futuristic vehicle's initial launch four years ago didn’t go to plan. One of Musk's team threw a metal ball at the reinforced glass windows with disastrous results. Four years later and the Cybertruck is back - but it is the design which is now catching the attention, with some describing it as 'a monstrosity', and 'like a child's toy'. We get the view of Italian car design expert Mattheo Licata

We look at the impact that COP 28 will have on the global economy as it announces that hundreds of millions of dollars will go into a loss and damage fund for poorer countries. Our presenter Rahul Tandon asks: is that enough? We also hear from the fashion industry which is often criticised for not being sustainable about what they are doing to change this. And some of the world's major oil producers are making cuts in production, in a bid to increase the price of oil.

The UN Chief Antonio Guterres has told the opening of the COP28 Climate Summit in Dubai that this year is set to be the warmest on record – and urged world leaders to act. The summit is hosted by the United Arab Emirates, one of the world's top oil-producing nations, with oil boss Sultan al-Jaber overseeing the summit. Jaber promised financial support for developing countries., saying the UAE “would unlock finance to ensure the global south does not have to choose between development and climate action”. Elon Musk- the billionaire owner of X (formerly Twitter) - says the advertisers who are boycotting the platform will kill the company. In an interview at the New York Times DealBook Summit, Mr Musk launched into a rant full of expletives against the advertisers who have quit the platform in a row over alleged anti-semitic content. And, the British sports brand Castore says it has raised $183M, from a trio of private equity investors, boosting the sportswear maker’s value to $1.2B. The company has dea

Footballer Cristiano Ronaldo has been named in a class action lawsuit in America after promoting a range of NFTs for Binance. The star is being sued for $1bn. Rahul Tandon finds out the latest from our correspondent in the US. We speak to the head of the European Commission about what she makes of the recent turmoil at OpenAI. And is a flag important to a country’s economy? We look at the country of Kyrgyzstan as the have recently filed a bill to change the image of their flag.

Uber invites London's black cab drivers to its app but will it work after years of rivalry? We ask Uber's general manager in the UK, Andrew Brem.Nigeria's president, Bola Tinubu, has promised to significantly narrow the country's budget deficit. We listen to the details.And we talk to Margrethe Vestager, candidate for the presidency of the European Investment Bank.

Rahul Tandon looks at the rescue efforts of the workers who have been trapped in a tunnel in Uttarakhand, India for 17 days. He raises the questions about development in that area. We hear why some companies are giving up on advertising on social media platform X. And we find out how much someone paid at auction for a scrap of paper on which David Bowie scribbled the lyrics to of his most famous songs.

41 workers in India who were trapped in a tunnel after a landslide have been rescued. The fast fashion online retailer Shein has filed confidentially to go public on the US stock market. Virgin Atlantic have become the first airline to send a commercial flight across the Atlantic powered only on sustainable fuel. We ask just how clean it actually is.

Roger Hearing talks to Mitchell Baker the CEO of Mozilla, one of the oldest and most influential internet institutions about her hopes and fears over AI.He also finds out just how much shoppers in the US spent on this Cyber Monday/Black Friday weekend. And there are doubts over the COP28 climate summit hosts as secret documents show the United Arab Emirates were planning to use it for oil deals.

Leaked documents revealed that UAE, hosts of the UN climate change conference COP 28, were planning to hold oil and gas talks with 15 countries. The documents were obtained by independent journalists at the Centre for Climate Reporting working alongside the BBC. Also, on the show what is a shadow bank and why one in China is under investigation. Spain has opened Europe’s first green hydrogen centre in a step to move away from fossil fuels.

The entrepreneur behind the $40bn collapse of crypto token TerraUSD, Do Kwon could be extradited to the US or South Korea to answer fraud charges following a court ruling in Montenegro. He sparked an international manhunt after fleeing an investigation in his native country of South Korea, following the sudden collapse of the TerraUSD and its sister token, luna. He was caught as he tried to leave Podgorica airport on a Costa Rican passport and sentenced to four months in prison in Montenegro. Kwon is sought by both the US and South Korea on fraud charges. So with the fall of another Crypto heavyweight, what does this do to the industry and should customers be concerned?

35-year-old heir to a banana business empire Daniel Noboa has been sworn in as Ecuador’s new president, with a promise to create jobs and curb violence in a country gripped by a bloody drug war. Mr Noboa holds a degree in business administration from New York University and three master’s degrees, from Harvard, Northwestern and George Washington universities. He intends to bring order to the country and stop the violence. However, it is not clear what economic reforms the new president is preparing.

Geert Wilders is likely to be the new leader of the Netherlands. His far-right Freedom Party is set to win 37 seats with almost all the votes counted. "The PVV can no longer be ignored," he said. "We will govern." Mr. Wilders will have to form a coalition government. We explain how he’s expected to tackle the country’s economic issues. Rescue workers drilling to free 41 workers trapped in a tunnel in India's Uttarakhand state are close to breaking through to them, according to officials who said they were confident the workers could be rescued soon. It is a holiday in the US, but Sam Altman is still dominating the headlines, we wanted to see how this week's event has affected companies that use Open AI.

The company brings in some established names to the top table, as former CEO Sam Altman comes back to his old job. Economist Larry Summers and former Twitter Chairman Bret Taylor are in with three members leaving the board as part of the shake up. Sam Fenwick hears what the new board will look to change at the company and how Sam Altman has been persuaded to come back to the firm that fired him.