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Business Matters: Growth in US jobs in spite of recession fears

Growth in US jobs in spite of recession fears

04/06/2022 GMT

BBC World Service - Business Matters, Growth in US jobs in spite of recession fears

Employment continues to grow in the US but tech firms brace for turmoil

While US employment figures continued to grow in May, tech firms like Tesla began to brace for turmoil freezing hiring and contemplating job cuts.

Mixed signals are coming from the US labour market. While employment figures grew more than expected in May, the tech sector has started to step on the brakes in fear of a recession. Tesla's CEO Elon Musk has warned that the electric carmaker needs to cut about 10% of its staff, saying he has a "super bad feeling" about the economy. We ask Chris Low, financial analyst at FHN Financial what this means for the economy.
It's been 100 days since the start of the war in Ukraine, and African nations among the countries that are suffering the most from food shortages and rising prices. The head of the African Union, Macky Sall, has been in Russia to urge President Vladimir Putin to facilitate the export of Ukrainian cereals. The BBC's correspondent in Nigeria Ishaq Khalid has been following the meeting.
Turkey has seen inflation rise to more than 73%, the fastest rate in 24 years. The decreasing value of the Turkish currency, the lira, and an unorthodox economic policy is fuelling price increases, according to experts. We hear more from Erinc Yeldan, a professor of Economics at Kadir Has University in Istanbul.
The UK is marking the Platinum Jubilee of Queen Elizabeth II with a four day weekend. We talk from royal fans in the streets of London and guests from other countries in the Commonwealth about the celebrations there.
Memorial Day in the US this week marked the end of the official Broadway season. It was the first with in-person shows since the pandemic. We hear a special report from our US partners Marketplace.
A lawsuit was lodged at the High Court in London on Friday seeking to recoup millions of pounds lost when a fund managed by the former star stock-picker, Neil Woodford, collapsed. Daniel Kerrigan, one of the lawyers bringing the case, explains why the litigation doesn't target Woodford himself.
Vivienne Nunis is joined by David Kuo, co-founder of The Smart Investor in Singapore, and Stephanie Hare, researcher of technology and politics in London.

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