People & Profit

It's been just over a year since Argentina elected Javier Milei as president. The political outsider had brandished a chainsaw as a symbol of his plans to cut government spending. So is Milei's "shock therapy" working? FRANCE 24's Kate Moody speaks to Juan Ignacio Carranza of Aurora Macro Strategies in Buenos Aires. 

Ahead of the November 5 US presidential election, both Vice President Kamala Harris and former president Donald Trump have been courting union support. Some 14 million American voters are union members, and they could prove to be a deciding force in several battleground states. We take a closer look in this edition of People & Profit. Bob Bruno, Professor of Labor and Employment Relations at the University of Illinois, Urbana-Champaign, says there are "stark" differences between the candidates' labour proposals, which are reflected in the number of union endorsements that Harris has received."Those kinds of endorsements really do matter. Organised labour has lost a lot of its political clout, but even with reduced membership, it can still be a decider in national elections, particularly in many of the competitive states."Bruno notes that in the post-pandemic era, power has shifted to workers, and led to more public support for union action. "Both the structural moment and the realisation among workers, an increased consciousness, that only through collective action could they maximise their power, has led to this moment where we see very high-profile and successful strikes, along with increased numbers of workers organising, increased numbers of workers filing complaints about management abuse, and workers winning more."He adds that Joe Biden's presidency will be remembered for legislation that supports labour and protects workers' rights. "He justifiably has earned that moniker, as the most pro-union president in the modern era."  

As the International Monetary Fund and World Bank mark 80 years since their founding, how can they stay relevant and effective? During the annual fall meeting in Washington, World Bank Senior Managing Director Axel van Trotsenburg told FRANCE 24 that reforms are underway, but need to happen more quickly. "I think an international organisation should always be subject to scrutiny, there should be critical questions, there should be criticism, and we should be held accountable. (...) It makes us better to respond," van Trotsenburg said.He also underscored the importance of tackling climate change and biodiversity alongside the Bank's mandates of development, reconstruction, and reducing poverty."You cannot only talk about climate change or biodiversity, and then move to the topic of development. They are all intertwined, so you have to analyse them together, because they affect the economic prospects, social prospects, and particularly the communities."Also in the show: the IMF hails the end of the global economy's inflationary spiral, but warns that geopolitical risks could derail its "stable but underwhelming" return to growth.

Just how sustainable is your happy hour? The beverage industry is among those facing pressure to mitigate its impact on the environment. In 2021, it accounted for 3.8 percent of global carbon emissions. We take a closer look in this edition of People & Profit. Drinks sustainability consultant Anne Jones says both packaging and raw materials are key to reducing the industry's carbon footprint. "Every drink starts its life in a field, it's a very agricultural product. Although the journey from field to glass can be very complicated, we have to look at it holistically. We have to remember that there are two key influences that the drinks industry has on the environment. Packaging is obviously one of the most influential from a carbon footprint perspective, but we also have to think about biodiversity."When it comes to water sustainability, she notes that "the drinks industry is probably at the forefront of the impact of climate change in this sense because it is so dependent on water".Following the inaugural "Sustainability in Drinks" conference in London, Jones says there is growing momentum to tackle the industry's problems."People often say that sustainability can be expensive and actually I don't believe that is the case (…) Sustainability is about efficiency and prudent use of our resources. What's expensive, I think, is change. So what we're seeing is a drinks industry that is collaborating better than ever before to learn from each other and to understand how to drive change as an industry."

Can European industry regain its competitive edge on the global stage? A new EU report penned by former ECB chief Mario Draghi highlights a growing gap in both productivity and innovation, and warns that businesses will face an "existential challenge" without drastic change and significant investment. Tim Figures, a partner and associate director at the Boston Consulting Group, believes the proposals "turn challenges into opportunities for growth and improved productivity in the European economy". He spoke to FRANCE 24's Kate Moody. Figures says that tariffs – like the tit-for-tat measures enacted by the EU and China on electric vehicles and brandy imports – can help provide "short-term breathing space for European industry to innovate".However, he adds: "On their own, they're not a mechanism that will deliver the kind of changes that we need to see to maintain European competitiveness; they need to be seen alongside a whole raft of other measures, as Mr Draghi sets out in his report."

The French government plans to subject the budget to a €60 billion belt-tightening drive next year in the hope of bringing the deficit down to 5 percent of GDP from an estimated more than 6 percent this year. Two-thirds of that sum are to come from spending cuts, and the rest from new taxes. Why does the country find itself in this fiscal hole? How will this new budget impact the country's economy? FRANCE 24's Charles Pellegrin talks to OFCE Economist François Geerolf. 

This week we look at ethical fashion in the age of "direct-to-consumer" giants like China's Shein and Temu. Thanks to their business model based on ultra-fast design and production, consumers can purchase a new look at incredibly low prices. But at what cost for the environment and worker wellbeing? Charles Pellegrin talks to Kamila Boudova, a Paris-based slow fashion coach who helps her clients create ethical wardrobes. They discuss the challenges of wearing ethical clothes in an age of ultra-fast fashion. Also in the show:Our China correspondent Yena Lee obtained access to a clothes manufacturing site that focuses solely on selling items on Temu. The platform has been described as "Amazon on steroids". Since launching two years ago it has exploded onto the global e-commerce scene, shipping to around 50 countries.

The athletes have crossed the finish line of the Paris Olympic and Paralympic Games. Now economists are trying their best to accurately assess the economic impact of this global event on the city and on France. Our guest, Wladimir Andreff, is one of them. He is a specialist of sports economics and a professor emeritus at the university of Paris Panthéon-Sorbonne. 

After a summer of Olympic fever, it's back to business in France. But uncertainty dominates after snap elections earlier this summer returned a hung parliament. As suspense continues over who will be the country's next prime minister, France's largest employer federation, Medef, held its annual conference on the theme of ''power''. So after seven years of pro-business policies, what's next for France's business community? FRANCE 24's Yuka Royer talks to Medef's Vice President Fabrice Le Saché and asks business leaders what their top concerns are.

While the tech world has been flying high on a wave of optimism over all the potential applications of AI, booming demand for the technology is increasingly straining energy resources. One simple search on ChatGPT consumes almost 10 times more electricity than one on Google. Charles Pellegrin speaks to Mary de Wysocki, Senior Vice President and Chief Sustainability Officer at Cisco, a major US-based company that provides data centre products and services.

Scene on Radio, the Peabody-nominated podcast series produced by The Kenan Institute for Ethics at Duke University, has dedicated its latest season to exploring the history, failures and future of capitalism over the course of 13 episodes. John Biewen, co-host of the podcast, joins us from North Carolina for a big picture conversation about the system that governs the lives of a large chunk of humanity.  

In the run-up to the UK's general election on July 4, the state of the country's National Health Service (NHS) is a key campaign theme. Satisfaction with the NHS is at its lowest in 40 years and the same is true of social care. Both the ruling Conservatives and the opposition Labour Party are promising to increase funding for the NHS. One business-led social organisation in the UK, Business for Health, advocates for stronger investments in preventative health, especially in the workplace. This could end up reducing the stress on the NHS. Charles Pellegrin speaks to its founder and CEO, Tina Woods.

It's a common and accepted trope that free trade has led to more prosperity.  Yet free trade, and another word that often accompanies it – globalisation – are frequent targets of criticism, with both seen as eroding national sovereignty, taking away local jobs and harming the environment. Charles Pellegrin talks to John W.H. Denton, the secretary general of the International Chamber of Commerce, the world's largest business organisation, whose purpose is to fight for a business-friendly environment around the globe.

A cloud of uncertainty is hovering over Europe this June in the wake of the European elections. In France, the National Rally party of Marine Le Pen dominated the polls to such an extent that President Emmanuel Macron immediately dissolved parliament and called for new elections. The possibility of seeing the far right take power in the country has led to turmoil in the markets. To better understand the economic impact of such a scenario, as well as its likelihood, we speak to Maria Demertzis, a senior fellow at Bruegel, a Brussels-based think tank that specialises in European policy.  Also in the programme: We peer into one of the world’s leading robotics hubs – in the town of Odense in Denmark – and see why the Scandinavian country has made a name for itself in the high-tech space. And we explore why South Korea's cosmetics industry – also known as K-Beauty – is going global, surfing on the success of other cultural exports like K-pop and K-drama.

As a result of the war in Ukraine, millions of Ukrainian children have been scattered around Europe. These young refugees have seen their education heavily disrupted, with only between 30 and 50 percent of them enrolled in schools in their host countries. NGOs such as Junior Achievement (JA) Europe and UNICEF have teamed up to help offer 1.9 million hours of training and education over the course of the last year across 14 countries. Charles Pellegrin talks to Salvatore Nigro, the CEO of JA Europe. Also in the programme: The recurrence of extreme flooding in Brazil is making it harder and harder to run a business, underlining the devastating economic impact of climate change. Andrew Hilliar takes a look at how businesses are coping. And in neighbouring Argentina, President Javier Milei's libertarian cost-cutting policies are forcing soup kitchens to clean out their pantries. Our correspondents Mathilde Guillaume and Matis Musa show us how that's impacted the country’s poor – a population that's seen its ranks grow in the past few years.

As decided by EU member states and the European Parliament, sales of internal combustion engine cars will be banned in the bloc by 2035, thereby forcing a transition to electric vehicles. How will Europe's car manufacturers manage this major change? FRANCE 24's Charles Pellegrin puts the question to Julia Poliscanova, senior director in charge of vehicles and e-mobility at the European Federation for Transport and Environment.

This week, we bring you a special edition of People & Profit from VivaTech, France's major tech event. Charles Pellegrin asks Beatriz Sanz Saiz, global consulting data and AI leader at EY, how artificial intelligence could bring more equality. He also meets Olivier Oullier, whose company Inclusive Brains has developed tech that could be a game changer for people with disabilities. And Peter O'Brien reports from the halls of VivaTech to find out what the rise of AI will mean for climate tech.

Rudimentary heating systems, often fuelled by wood fire, coal and animal manure, are used by a large majority of households in Africa. Delegates from over 60 countries gathered in Paris for a summit held by the IEA to help tackle this issue. Charles Pellegrin asks Jillene Connors Belopolsky, who is the chief of staff and chief external affairs officer at the Clean Cooking Alliance, what can be done to make clean cooking options more affordable and available. Also on the programme: We take a look at what the United Arab Emirates’s first micro-brewery could mean for a region looking to build up its tourism sector and reduce its reliance on its fossil fuel industry.We also check out how Sweden has turned into a global gaming sector powerhouse.

Taylor Swift's Eras Tour is continuing its planetary takeover, kicking off its European leg this week in France. Since her first concerts in March 2023 in the US, the pop star has been credited with boosting the national GDPs of the United States, Singapore and Australia. For a deeper look at the business phenomenon that is Taylor Swift, FRANCE 24's Charles Pellegrin speaks with former music business executive, Professor Linda Bloss-Baum. She is the assistant director of the business and entertainment programme at American University's Kogod School of Business.  Also in the programme:More than a year after Saudi Arabia and Iran agreed to restore diplomatic ties, the implications of that thaw in tensions can be felt beyond the two nations. For instance, Iraq has seen a surge in investments from Gulf states which had previously avoided the country because of its links to Tehran.And we head to southern China, where young sales professionals are going back to school to learn how to use TikTok to better target foreign markets. 

With less than 100 days to go until the Paris 2024 Olympics, we’re looking into whether or not they will be a healthy investment for Paris and France as a whole. Will the Games boost the French economy? Or will the costs outweigh the benefits? FRANCE 24's Charles Pellegrin discusses this and more with Christophe Lepetit from the Centre de Droit et d'Economie du Sport, a French research institute specialised in the economics of sport.