Business Daily

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Spook-onomics: the global boost of Halloween Oct 31, 2023

Show notes

Trick or treat and other traditions are now at the centre of a global multi-billion business.

The ancient Celtic and Pagan festival, which started thousands of years ago in Ireland, was taken by emigrants to North America, where it was turned into a major annual event.

The National Retail Federation in the US tells Russell Padmore how spending by consumers is forecast to be a record of more than $12bn. Jadrain Wooten, an economist at Virginia Tech, says the sales promotions for Halloween are getting earlier every year and lasting at least month.

We hear about the economic benefits of Europe’s biggest Halloween Festival in Derry City in Northern Ireland and visit a pumpkin farm in the region.

An Irish cultural historian, Manchán Magan, tells us about the roots of the festival, which used to be called Samhain and we find out how retailers in Australia are cashing in by selling costumes, pumpkins and other items as consumers enjoy the traditions of Halloween.

Presenter: Russell Padmore

(Image: Children trick or treating in the North East of England. Credit: Getty Images)

The electric car race Oct 30, 2023

Show notes

Countries around the world are racing to achieve targets on the ban of new petrol and diesel cars - but they are hitting stumbling blocks, meaning some are pulling back on their commitments.

Although global sales of electric cars are rising, some countries are struggling to persuade drivers to make the switch. Reasons given include insufficient or unsuitable charging points, and the price tag: criticism is often put to governments that the shift to electric cars is hardest for the least well off.

In this edition of Business Daily, Rick Kelsey looks at one country which is well ahead of the rest: Norway. The country's aim is that all new car sales in 2025 will be of electric vehicles - a plan being supported by financial incentives and policy changes.

He also speaks to business leaders in the car industry, including a man known as "the Godfather of EV", to find out what's needed if countries are to phase out internal combustion engines.

(Picture: An electric car being charged. Credit: PA/John Walton)

Presented and produced by Rick Kelsey

Elon Musk's X: The Twitter takeover a year on Oct 26, 2023

Show notes

After many months of news headlines about whether Elon Musk was going to buy Twitter, he eventually completed the purchase on 27 October 2022.

Since then, the company’s been through some big changes; laying off most of its 8000 employees, a rebrand to ‘X’, and reinstating some previously banned accounts on the platform.

Mr Musk describes himself a free speech absolutist and says he bought Twitter – now called X - to create a space where “a wide range of beliefs can be debated in a healthy manner.” However, the company’s faced criticism over lax content moderation, leading to advertisers halting ads on the service. He hopes to boost revenue by making the site a paid-for platform, setting himself some ambitious financial targets.

In this episode, Sam Fenwick speaks to former employees, business owners and journalists to get a picture of what has happened at X since Elon Musk took over.

(Picture: Elon Musk next to a logo for X - formerly known as Twitter. Credit: Anadolu Agency/Getty Images)

Produced by Amber Mehmood and Hannah Mullane

Business Daily meets: Akinwumi Adesina Oct 25, 2023

Show notes

In 2015, Akinwumi Adesina was elected President of the African Development Bank (AfDB), and since then he's become a symbol of optimism across the continent. How did he become known as Africa's "optimist-in-chief"?

In this edition of Business Daily, Dr Adesina tells Peter MacJob what has shaped him as an economist, his outlook for the continent and how Africa could determine the future of renewable energy and green minerals.

He says the international financial architecture should be more inclusive and favourable towards African economies, and the global north should compensate the continent for the adverse impacts of climate change on Africa.

(Picture: Dr Akinwunmi Adesina. Credit: Getty Images)

Presented and produced by Peter MacJob

Short Stories: The amateur trader Oct 23, 2023

Show notes

Short selling has gone mainstream. Inspired by the noisy success of activist short sellers, amateur investors are now trying this highly risky strategy themselves.

They’re aided by a slew of new trading apps making it possible to short a stock or currency in seconds.

Peter Roscoe is a YouTube investing vlogger who’s experienced the highs and lows of short selling.

We also hear from the UK boss of trading app E-Toro – who says shorting has exploded on the platform.

Producer: Ciaran Tracey Presenter: Leanna Byrne

Short Stories: The CEO Oct 23, 2023

Show notes

What’s it like to be on the wrong side of a big short? Former CEO Paul Pittman's company was shorted by an anonymous short seller who made false allegations in order to drive its share price down - way down.

This is the story of how Paul and his firm overcame the short attack that cost them millions: and why it’s not just big companies that stand to lose money from rogue shorters on the markets.

Producer: Ciaran Tracey Presenter: Leanna Byrne

Short Stories: The activist short seller Oct 22, 2023

Show notes

Short selling – the trade where you hope a stock’s value will fall rather than rise. If it does, the trader can win. Big.

That’s led to the growth of what’s called the activist short seller. A trader who comes out to tell the world why a company’s stock should be lower than it is. They’re betting on its failure.

Carson Block from the firm Muddy Waters is one of the most prominent new short sellers – vocal on the news and social media, he explains why the companies he shorts are usually the ones with something to hide.

Producer: Ciaran Tracey Presenter: Leanna Byrne

Business Daily meets: Andre Schwammlein Oct 19, 2023

Show notes

Andre Schwammlein once wanted to be a pilot – but ended up behind the wheel of a bus and train company instead.

The chief executive and co-founder of Flix – the driving force behind Flixbus and Flixtrain - says he was never much of a traveller, but now leads a company that has changed the way millions of people cross countries and continents.

In just 10 years, Flixbus has gone from German startup to global brand - even taking a piece of American heritage: Greyhound.

In this edition of Business Daily, Theo Leggett finds out how the transport entrepreneur got started, the reasons behind the company’s success, and his plans for growth.

(Picture: André Schwämmlein. Credit: Getty Images)

Presented and produced by Theo Leggett

What makes a stadium special? Oct 18, 2023

Show notes

The development of new sports stadiums and facilities can bring regeneration to deprived areas. They hold a special place in the hearts of sports and live music fans. But have some of the new ones lost their spark?

In this edition of Business Daily, Sam Fenwick asks, what gives a stadium its atmosphere and can it be designed in?

Sam speaks to Christopher Lee, whose architecture practice, Populous, has designed 3000 arenas all over the world. He shares his experience of designing iconic grounds like the Yankee Stadium, Wembley Stadium, and Olympic stadiums in Sydney, London and Sochi.

And we hear from BBC World Service listeners, who tell us what makes their favourite sports grounds so special.

(Picture: Boston Red Sox starting pitcher Brayan Bello (66) throws a pitch against the Kansas City Royals in the third inning at Fenway Park, Boston, Massachusetts. Credit: David Butler II/USA TODAY Sports)

Presented and produced by Sam Fenwick

Why is the US building electric car battery factories? Oct 17, 2023

Show notes

We’re in Kentucky, where an area which had long ago been abandoned as an industrial site is once again coming to life.

US manufacturer Ascend Elements has chosen the site to build a factory for electric car batteries made from recycled ones - an industry previously almost entirely based in China.

We explore the government incentives that have drawn the company to build here with US Climate Envoy John Kerry.

And we hear from the local mining community which is hoping the new green manufacturing facility may provide much needed jobs.

Presenter: Faisal Islam Producer: Priya Patel

(Image: A worker at the factory building site in Kentucky. Credit: BBC)