Google is threatening to shut down its search engine in Australia over a draft law that would require it to pay Australian media outlets to use their content in search results. We take a closer look. Also, the Biden administration banks on infrastructure spending to create thousands of new jobs. Plus, billionaire entrepreneur Elon Musk floats a $100 million prize for new carbon-capture technology.

Business daily

Google threatens to pull search engine from Australia over news payment law

900,000 new claims for unemployment benefits were filed across the US last week, as the pandemic kept businesses closed. The data underscore the economic challenges ahead for President Joe Biden, as he tries to control the spread of the coronavirus. Also in the show - French winemakers hope for a more clement trade policy under the new administration.

US unemployment claims remain high as Biden tackles pandemic

Joe Biden's administration has begun the political wrangling to get his $1.9 trillion dollar "American Rescue Plan" for the economy passed through Congress. Despite the Democratic party holding a majority in both houses, it's unlikely the new president will secure support for all elements of the plan, which include more stimulus payments to Americans and raising the federal minimum wage to $15 per hour. Also today, Google has agreed a deal to pay French publishers for showing extracts of their news articles in search results.

Biden begins political battle for $1.9 trillion stimulus plan

Hours after being sworn into office, US President Joe Biden began to tackle some of the country's most pressing economic concerns. Getting more financial aid for businesses and households passed, addressing inequality and improving trade ties with American allies are top of his economic agenda. We take a closer look.

President Joe Biden to tackle US economic crisis

Joe Biden is inheriting a weakened American economy, battered by the coronavirus pandemic. Unemployment remains high, and the latest jobs figures show that the recovery could have stalled. Ahead of the inauguration, we look at the details of the incoming president's rescue plan for the US economy and his broader economic platform. Also today, we tell you why Janet Yellen has given hope to many European leaders that a compromise could be found on changing the rules for taxing digital giants.

What is Joe Biden's plan to rescue the US economy?

On the eve of Joe Biden's inauguration, his nominee to lead the Treasury Department urged lawmakers to approve his coronavirus stimulus package. Janet Yellen told the Senate Finance Committee the aid was essential to protect businesses and households. Also in today's show: French unions protest Sanofi's plans to cut research jobs, while Eurostar warns the combination of the pandemic and Brexit has pushed it to the brink of bankruptcy.

Yellen urges Congress to 'act big' on US stimulus

New car registrations fell by almost a quarter in the European Union in 2020, the biggest slump in demand on record. Figures from the European Automobile Manufacturers' Association show a 24 percent plunge last year, with bigger drops in Spain, Italy and France. Also today, we look at how retailers and shoppers are adjusting to the new curfew in France, which begins at 6pm. All shops must close at that time, which retail groups are warning will lead to a significant reduction in earnings.

New car sales plummet by 24% across EU in 2020

US President-elect Joe Biden is preparing to wade into a controversial energy project once he's sworn into office. Reports suggest he will issue an executive order blocking the Keystone XL project between Canada and the US and revoke the permit. Also in today's show: pharmaceutical giant Sanofi sparks outrage with planned job cuts. Plus, the number of new companies created in France hit a record high last year despite the pandemic.

Biden expected to block Keystone XL pipeline

China's GDP grew 2.3% in 2020, making it the only major world economy to avoid a contraction. The growth was pushed by its manufacturing sector, although retail spending and consumer appetite remained low. Meanwhile in South Korea, the heir to smartphone maker Samsung is convicted on bribery charges and sentenced to two and a half years in prison, which pushed Samsung-related stocks down in trading.

China's economy grows 2.3% in 2020 as rebound from Covid-19 pandemic continues

The messaging app WhatsApp has announced that it will postpone planned changes to its data-sharing policy after a widespread backlash. Also, a number of corporations in the US have paused political donations in the aftermath of the January 6 riot at the Capitol. And here in France, 2020 saw a record number of companies created.

WhatsApp delays data-sharing change after outcry

Among the highlights of US President-elect Joe Biden's proposed $1.9 trillion stimulus proposal are another round of direct payments to Americans and a hike in the federal minimum wage from $7.25 to $15 an hour. We take a closer look at that last proposal, which comes amid growing pressure to raise wages. Also, we look at Indian farmers' talks with the government over hotly-contested agriculture reforms. Plus, French Finance Minister Bruno Le Maire doubles down on his opposition to a proposed takeover of supermarket giant Carrefour.

Biden's stimulus plan includes proposed hike in minimum wage to $15 an hour

The number of Americans claiming unemployment benefits has risen to its highest level since August, as the pandemic continues to shutter businesses across the country. Also in this show, we look ahead to President-elect Joe Biden's plans to protect US households and boost the economy. Plus, French carmaker Renault looks to pare back production and go electric.

US unemployment claims hit highest level since August

Two French government ministers have announced their opposition to a potential takeover of the country's biggest supermarket chain Carrefour by the Canadian group Couche-Tard. The two companies announced they were in preliminary talks on a deal earlier this week. France's Finance Minister Bruno Le Maire said a takeover was an issue of "food sovereignty". His ministry would need to approve any deal affecting the food distribution sector. Also today, how carmakers are trying to cut the cost of electric vehicles for consumers.

French ministers oppose potential takeover of retailer Carrefour

Amid fears of potential further violence, the video site YouTube has suspended Donald Trump's account, preventing new videos from being added. The website said it had removed some uploads for violating its policies, and was turning off the ability to comment on any remaining videos. YouTube is the latest technology company to take action against the outgoing US president, after Twitter and Facebook also suspended his accounts. Also in today's bulletin, we look at the situation in France for trainees who are unable to find work placements because of the Covid-19 pandemic.

YouTube suspends uploads to Donald Trump's channel over violence fears

The aftermath of the riot on Capitol Hill has left Donald Trump increasingly isolated in both the political and financial spheres. Deutsche Bank is reportedly cutting ties with the outgoing president – and the Trump Organization – after decades of business, while corporate donors are turning away from his Republican supporters. We take a closer look.

Deutsche Bank reportedly cuts Trump ties after Capitol riot

A daily update on the latest business and economic news. Live on weekdays at 8.15 am Paris time.

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