World Business Report

President Trump has signed his flagship bill into law — slashing taxes and welfare, while boosting military and immigration spending. But what does this mean for America’s economy and global standing? And with new tariffs looming, can the U.S. reach a trade deal with its partners before tensions boil over? Plus, We explore the rise of Velvet Sundown, the mysterious AI-powered band drawing in over 850,000 Spotify listeners without a single live show, interview, or known band member.

The US tax and spending bill suggests that to subsidise electric vehicles and solar panels. President Donald Trump is also trying to encourage American allies in Europe and Asia to buy more US liquid natural gas and oil. But experts are arguing that this could allow China a free run at becoming the world’s first electricity superpower. Also, US President Donald Trump says his administration will probably start notifying trading partners from Friday of the new US tariff on their exports effective Aug. 1. And fifteen years after their explosive split, music legends Liam and Noel Gallagher are reuniting for an Oasis tour that kicks off today in Cardiff, Wales.

The big event of 2021 that will shape economies all over the world for decades to come was the COP 26 climate conference in Glasgow in November. The meeting saw a deluge of promises, but what was actually achieved? Martin Webber speaks to Tim Gould, chief energy economist at the International Energy Agency and economist Irwin Stelzer, from the Hudson Institute in the United States.It was another boom year for the pharmaceutical industry as it crafted the vaccines that have saved so many lives. Of the 8 billion coronavirus vaccinations worldwide, one billion have been delivered by the US logistics company, UPS. We hear from Wes Wealer, President of UPS healthcare.And small business owners have had a bleak time for much of the past year. But many of those that have survived now feel optimistic. We hear from the owner of the Aroma speciality coffee shop in Bologna in Italy, Cristina Caroli, about her year.

Covid-19 is set to prompt radical long term changes to how we live and work, so what lessons can be learnt when we eventually emerge from the pandemic? Could the changes in the way we work herald higher productivity and happier people in the future?We hear the stories of the people who managed to thrive during a very difficult year, including the milkman who saw a boom in deliveries and the dancer who found work in South Korea when the London stage went dark.Martin Webber is joined by Professor Devi Sridhar who holds the Chair of Global Public Health at the University of Edinburgh; economist Roger Bootle, of Capital Economics; Robert Reich, former Labour Secretary under President Clinton; Tomas Philipson, who was Chair of the Council of Economic Advisors under Mr Trump; and actor Thomas Inge who is currentl starring in the musical Cats in South Korea.