Episode

World Business Report

BBC World Service

Business, Business News, News & Politics

Chart Positions

Business News 48

The latest business and finance news from around the world from the BBC

Website

OPEC declines to set oil output target

June 2nd, 2016

Episode 737 of 899 episodes

Member countries of the OPEC cartel have failed to agree a target for oil production. We get analysis and reaction in the energy markets. The online taxi hailing firm Uber has attracted a new shareholder from the Middle East. We hear why the Government of Saudi Arabia is investing $3.5 billion into the taxi operator, from Reem Assad, an economic commentator in the Saudi city of Jeddah. Heads of most of the world's big airlines are wrapping up their annual meeting in Dublin. IATA has predicted the world's airlines will enjoy better profits than expected thanks to the big fall in oil prices driving the cost of jet fuel down. We get a report from Ireland on the issues aired at the event and the environmental campaigner George Monbiot explains how the aviation sector is under pressure to reduce carbon emissions. The first ever plastic currency bill from the Bank of England has been unveiled. The UK has issued plastic banknotes in Northern Ireland before and they are in use in other countries, but this is a first for the British central bank. We hear from shoppers in London what they make of having to use a new banknote that is not made of paper.

Featured Podcast

Listen