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World Business Report: First broadcast 2017/02/03 22:32 GMT: President Trump Rolls Back US Bank Regulation

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First broadcast 2017/02/03 22:32 GMT

First broadcast 2017/02/03 22:32 GMT: President Trump Rolls Back US Bank Regulation

President Trump Rolls Back US Bank Regulation

BBC World Service - World Business Report, President Trump Rolls Back US Bank Regulation

The biggest law to overhaul US banking for decades, will be loosened by President Trump.

President Donald Trump has ordered the roll back of the landmark Dodd-Frank law, just seven years after it was introduced to tighten supervision over the banking sector.

The sweeping Dodd-Frank legislation, which was introduced in 2010 to tighten supervision over America's banking sector following the financial crisis, will be rolled back, after an executive order from President Donald Trump. Congressman Jim Himes, from Connecticut, who sits on the House Financial Services Committee explains why he supports Dodd-Frank, while Norbert Michel, from the Heritage Foundation insists the law is not needed.

Snap, the company behind the online photo-sharing service SnapChat, is going to sell shares in an offering that could raise as much as $3 billion. But the IPO, or initial public offering, documents warn prospective investors it may not make a profit. We hear from some of Snapchat's young users and our technology correspondent, Rory Cellan-Jones, gives us a picture of the company's future.

The traditional textiles industry in Nigeria has struggled to compete with European manufacturers. Hand-woven fabrics such as akwete and the indigo-dyed material with symbolic motifs known as adire are produced on a small scale - so cannot match their rivals in price or volume. So will market forces cause these crafts to simply disappear?

The BBC's Ijeoma Ndukwe reports from Lagos. The end of another busy week for the BBC's business news team gives us a chance to reflect on the impact of President Donald Trump's travel restrictions on people from seven countries, Facebook forced to pay up for using technology that belonged to another company and a computer that can beat humans playing poker. We analyse the week's developments with Soumaya Keynes, from The Economist in London and Sujeet Indap at the Financial Times in New York. 

(Picture: Donald Trump signs a presidential executive order. Bloomberg.)

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First broadcast 2017/02/03 22:32 GMT: President Trump Rolls Back US Bank Regulation

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