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Business Matters: Obama Hosts Migration Crisis Summit

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Obama Hosts Migration Crisis Summit

21/09/2016 GMT

BBC World Service - Business Matters, Obama Hosts Migration Crisis Summit

The US President announced a pledge by 50 nations to take in 360,000 refugees this year

The summit has the goal of increasing humanitarian funds by a third and doubling the number of resettled refugees.

President Obama is hosting a summit in New York on the global migration crisis - with a stated goal of increasing humanitarian funds by a third and doubling the number of refugees being resettled. Dr Carlos Vargas-Silva is an associate professor at the Centre on Migration, Policy and Society at Oxford University. He says measures that discriminate against economic migrants - rather than political asylum seekers - can end up targeting the wrong people.

The CEO of the US bank Wells Fargo faced an unusual scene in Washington - Democratic Party and Republican lawmakers united in anger against him. John Stumpf was testifying in front of the powerful Senate Banking Committee about Wells Fargo's aggressive sales tactics - and he was subjected to a withering attack from Senator Elizabeth Warren. We hear from Emily Glazer, banking reporter at the Wall Street Journal.

Sweden has one of the highest per capita incomes in the world - not, you'd think, the kind of place where people would have to make do and mend. Especially in today's throwaway society. But the Green Party is part of the Swedish government - and it's behind a tax cut to encourage people to have their broken consumer goods repaired instead of replaced. Per Bolund, Minister for Financial Markets and Consumer Affairs, explains the policy.

All this and more discussed with our two guests. Mythili Bhusnurmath, consultant editor at the Economic Times, in Delhi. And Raghu Manavalan, multimedia producer for Marketplace, in LA.

Photo: Obama addresses the UN Summit in New York on 20th September, 2016. Credit: Getty.

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