Daily top business stories from around the world in 60 seconds: - US adds 33 Chinese entities to watch list - Report: Chinese funding of African projects surges - US household debt increases by $1T in 2021 #ChineseFirmsAddedWatchList #ChinaAfricaInvestments #USHouseholdDebt

Money Talks

Biz in 60: US-China tech war, China’s Africa investments, US household debt

Japanese motor industry giant, Toyota saw its profits fall by 21% for the last three months of 2021 as the global chip shortage took a toll on production. The world's best-selling carmaker also cut its annual production target by 500,000 vehicles to 8.5M. Manufacturers around the world are struggling to find microprocessors for their products. Future Horizons founder and chairperson, Malcolm Penn joined us to discuss global chip shortage and its economic impacts on automakers. #ToyotaEarnings #ChipShortage #CarmakersCutProduction

Toyota profits plunge 21% as chip shortage hits production

Peloton's co-founder John Foley is ceding his top job in a shake-up that will cost the company 2,800 jobs. Barry McCarthy, the former chief financial officer of Spotify and Netflix, will replace John Foley as CEO. We were joined by Naeem Aslam live from London to understand more on recent developments regarding Peloton. #Peloton #JohnFoley #BarryMcCarthy

Peloton chief John Foley to step down after activist campaign

- BP profit hits 8-year high on surging energy prices - Volvo, Northvolt to build battery plant in Sweden - US, Japan reach deal to remove tariffs on steel #BPEarnings #VolvoBatteryPlant #SteelTariffs

Biz in 60: BP earnings, Volvo battery plant, US-Japan steel tariffs

Brussels has announced plans to turn the EU into a semiconductor powerhouse, rivalling recent efforts by the US. Europe wants to produce up to 20% of the world's chips by 2030, which would mean it needs to quadruple its semiconductor production in only 8 years. #EuropeChipProduction #Semiconductor #EUMicrochipInvestment

EU plans to produce 20% of the world's microchips by 2030

Meta is threatening to shutdown Facebook and Instagram in the European Union, unless authorities let it continue to save users' data in the US. Lawmakers say the data transfers don't adequately protect European citizens' privacy, and they are currently drawing up new legislation that will dictate how EU citizens' user data gets transferred across the Atlantic. For more on the story, AJ Bell financial analyst, Danni Hewson joined us from Huddersfield, UK. #Meta #SocialMediaRegulations #EU

Meta threatening to shutdown Facebook, Instagram in EU due to new legislation on data transfers

- Largest firms accused of failing on climate pledges - US urges China to meet phase 1 commitments - Abu Dhabi Ports Group raises $1.1 billion in IPO #ClimatePledges #USChinaTrade #AbuDhabiPorts

Biz in 60: Corporate climate pledges, US-China trade dispute, Abu Dhabi Ports Group IPO

Fresh inflation data is in focus this week, after a surprisingly strong job report in the US triggered speculation that the Federal Reserve could be a lot more aggressive than expected. The consumer price index will be reported on Thursday, with the headline number expected to stand at 7.2%, the highest figure since 1982. This, according to analysts, is set to fuel further market volatility after a rollercoaster week for Wall Street. #USInflation #FinancialMarkets #USPayroll

US inflation expected at 7.2%, highest figure since 1982

We looked at the news and developments that've been moving global markets. This week, it's been all about corporate earnings. Social media giants and Big Tech firms announced strong fourth quarter results. #Alphabet #Apple #Shell

Market Movers: Internet, Consumer Electronics, Oil | Money Talks

The 2022 Winter Olympics are under way in Beijing. China says this year's event will be the cheapest in decades. That stands in contrast to recent Summer and Winter Games, which almost always go over budget, and saddle their host countries with expensive infrastructure that gets little to no use after the closing ceremonies. But as Aadel Haleem reports from the Chinese capital, there's more to the government's estimates. #WinterOlympics2022 #ChinaOlympics #BeijingWinterGames

Investigation shows China spent $38.5B to host Winter Games | Money Talks

We were joined by Economist Vicky Pryce in London and Carsten Brzeski in Frankfurt. Vicky Pryce is a board member at the Centre for Economics and Business Research. Carsten Brzeski is global head of macro research at ING. #Brexit #VickyPryce #CarstenBrzeski

UK's trade of goods with EU is 11-16% lower since Brexit | Money Talks

Brexit was sold to voters as a way for the U-K to regain its financial and economic independence. And in that sense, yes, British policymakers have more power now. Downing Street has gained control over its trade rules. It can set up its own border controls, and send its own representative to bodies like the World Trade Organization. The UK has also signed a free trade deal with Japan and Singapore, and is working on other agreements with the U-S, New Zealand and Australia. But Britain's biggest trading partner is its closest neighbour, the European Union. And the exit from the single market has been tricky. #BrexitWinners #BrexitLosers #BrexitAnniversary

Winners & Losers of Brexit | Money Talks

Two years after the UK left the EU, many of the most contentious issues between London and the economic bloc remain unresolved. The movement of people and goods across borders has been impacted by the introduction of more red tape. On 1st of January, additional customs requirements kicked-in, causing long delays for truck drivers at the Port of Dover. Unless an agreement is reached, trade and tourism could face devastating consequences. #Brexit #UKTrade #UKCustom

UK-EU trade constrained by regulations, border checks | Money Talks

Co-founder and CEO of Spyke Games, Rina Onur Sirinoglu joined us in the studio in Istanbul. #RinaOnurSirinoglu #SpykeGames #RoyalRiches

Spyke Games raised $55M in seed funding round | Money Talks

While many industries have been badly affected by the COVID-19 pandemic, for videogame developers, it's been a major boom. Research shows binge gaming is up 13% over last year with some age groups spending as much as 6 hours at a stretch glued to their screens. The rising demand is attracting investment to the sector, and Turkish developers are among the biggest winners. #TurkiyeGamingIndustry #GameDevelopers #TurkishStartups

Turkish game developers attracted $400M in funding in 2021 | Money Talks

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