Much ceremony little substance between Xi and Trump

Independent panel finds City guilty on more than 100 charges after a lengthy investigation into financial rule breaches.Talks between US and China continue during President Xi's visit to Washington DC.And nearly three million Volkswagen and Audi cars are being recalled worldwide over a steering problem.

Both leaders toasted each other, agreed to an economic future together and little concrete has been announced.We hear how the visit has been received in both China and the US.Also, we hear from the boss of a shipping company on the challenges of navigating attacks and disruption, and also what it’s meant for his bottom line.

On today’s episode, we take a look at the stories shaping global business and markets. We discuss China’s state visit to the United States with Claire Reade, exploring the key issues and what the visit could mean for relations between the two countries.Cary Leahey joins us to discuss what’s trending in the markets, from the latest moves to the themes investors are watching.We also look at the UN’s conference on scams and the growing international focus on scam operations linked to Cambodia.And could the growing popularity of high-protein diets be putting the food industry under pressure? We examine how changing consumer habits are affecting the businesses behind the trend.Finally, we turn to Turkey, where the founder of an investment fund at the centre of an alleged eighteen-billion-dollar Ponzi scheme has been arrested. We speak to Piotr Zalewski, The Economist’s Turkey correspondent in Istanbul, about the allegations, the scale of the scandal and what it means for Turkey’s financial sector.

Xi Jinping has arrived at the White House to hold talks with Donald Trump, as the world's two biggest economies agree to extend their trade truce by two months China's stock markets have had their worst trading day in a month, with investors frustrated at the news.Elsewhere, Cambodia's Prime Minister has insisted the country will no longer be a haven for scam centres as a summit takes place there to tackle the issue.It's estimated millions of workers around the world may have found themselves incarcerated, beaten or even electrocuted, before being forced to scam victims online.

China's Xi Jinping visits Washington for a meeting with President Donald Trump. Also, how Cambodia is fighting financial scams. And why McDonalds is betting big on chicken.(Picture: U.S. President Trump Meets With China's President Xi At Zhongnanhai. Credit: Getty Images)

President Trump will welcome China's leader to the US capital ahead of talks ranging from tariffs to energy costs to the future of AI.The trip is Xi's first state visit to the US in just under a decade and his third meeting with Trump since the US president began his second term in office.Meanwhile, the head of the International Monetary Fund has warned that advanced economies need to reduce borrowing because of the spiralling cost of it. Kristalina Georgieva said that global economic shocks had pushed up debt levels, but not enough had been done to contain the rising interest costs.

We're assessing where a busy day of diplomacy at the UN General Assembly has left the global oil market. Face-to-face talks have begun between the US and Iran. But President Trump also concedes that a peace deal is unlikely before November. Can the stretched global oil supply survive that long? Also with Ed Butley, why are Xboxes on the wane, and why do women screenwriters write better movies? (Picture: 81st United Nations General Assembly at UN headquarters in New York City. Credit:Reuters)

The prices companies are paying for shipping the fuel have risen 12 fold in the last few months.In that time Brent Crude oil has fallen below 100 dollars a barrel, relieving some pressure that the rising prices have put on inflation around the world.But there are concerns that the shortage in tankers could reverse those falls.Also, Volkswagen's top executive in China says the country's domestic car market is going to decline by 20 per cent this year, and the impact will be the same as the COVID pandemic.

Paramount Skydance has settled a lawsuit with dozens of US states, removing a major hurdle to its $110bn (£82.8bn) merger with Warner Bros Discovery. We hear from the Hollywood film editor.Also in the show, we are looking ahead to talks between Presidents Trump and Xi Jinping this week and we hear of more passenger chaos, this time in US airports.(Picture: Paramount water tower at Paramount Studios in Hollywood. Credit: Reuters)

Shares in Novo, the company behind Ozempic and Wegovy have fallen more than five per cent as the Danish pharmaceutical company sets out its future growth strategy. China and the US talk AI ahead of talks between the countries' leaders this week. And thousands protest in Barcelona against overtourism and plans to expand the city's airport. Presenter: Luke Wilson Producer: Barbara George