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World Business Report

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

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Trump picks oil boss as Secretary of State

December 13th, 2016

Episode 903 of 1091 episodes

Russia has welcomed Donald Trump's decision to nominate Rex Tillerson, the boss of the Exxon Mobil oil giant, as the next US Secretary of State. The Vice President-elect, Mike Pence, who heads Donald Trump's transition team, says it's exactly the kind of appointment that the American people voted for. Philip Bump from the Washington Post tells us why he disagrees, while the BBC's Tony Bonsignore profiles the Texas born oil company boss. Italy's Unicredit bank has announced plans to sell off more than seventy billion euros in bad loans, whilst persuading investors to stump up another thirteen billion euros. As Paulo Gentiloni starts his new job as prime minister, we ask economist Roger Bootle what can be done sort out the problems facing the country's troubled banking sector - as well as kickstart its economy. Four West African leaders have flown to The Gambia today in an effort to persuade the President - Yahya Jammeh - to step down. Dr Marloes Janson from the School of Oriental and African Studies in London tells us what's happening, and what it might mean for the country's troubled economy. Qatar is ending its labour sponsorship system that forces foreign workers to seek their employer's permission to change jobs or leave the country. It says a new contract-based law will replace the "kafala" system, ensuring greater flexibility and protection. James Lynch from Amnesty International gives us his verdict. And Iceland has consistently been named the most equal country in the world when it comes to gender pay. The BBC's Colletta Smith, in Reykjavik, reports on the reasons behind the narrowing of the gender pay gap, and why the fight continues.

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