markus karlsson is with us in the studio. we will start in japan. the nation's car industries facing some pretty tough questions about allegations of cheating in carbon emissions. markus: some might say the japanese car industries in the spotlight for all the wrong overns once again hit this fears that a fuel economy scandal at mitsubishi motors is spreading elsewhere. the rival brand suzuki said it used the wrong methods to test if you economy of its cars in japan. at the same time, it is trying to play down the consequences of that, saying the difference between what it reported and real life isn't that big. in the meantime, the scandal and mitsubishi has claimed a high-level scalp with the company president resigning. reporter: japanese carmakers in a monthlight less than after admitting it had many belated fuel economy data for the past 25 years, mitsubishi is now desperate to turn the page. >> i have decided just of down and take full responsibility because inadequate fuel economy test methods and data manipulation were discovered in cars that w

time for a look at the business news and markus karlsson joins me once again on set. look at that prices in brazil and how it is affecting the economy. markus: we have this fascinating political story on going in brazil and it feels like we have development on an almost hourly basis. the political crisis is having an impact financially as well as economically. we have seen shares in brazil heading higher. for example, this tuesday -- this comes after the speaker in the lower house of parliament reversed a decision to and all of vote on president dilma rousseff's impeachment. it appears that investors welcome impeachment as they speculate that a changing of guards politically could provide a breath of fresh air for the brazilian economy. it is the next chapter in the thriller and folding in brazil. the economic crisis rising over a political crisis over dilma rousseff's possible impeachment. credit rating agency fitch lowered results ranking and predicted that the economy which ranked this year. the main reason, the ongoing political uncertainty, according to this anal

business news headlines with markus karlsson now. hi there, markus. fort of all, massive news the u.s. auto industry about a safety recall. markus: pretty impressive looking figures as american regulators are extending what was already the largest ever u.s. auto safety recall. they are ordering the japanese company takata to fix between 35 million and 40 million airbags, and this collision of what is already are costly crisis for takata. 40 different carmakers have been told to recall 24 million cars to fix airbags made by the company. it was found they could inflate with too much force and should metal shards into cars could at least 11 deaths have been linked to the problem worldwide. let's listen into the head of the national highway traffic safety administration in the u.s. airbag recall from which we are more than doubling today, is the largest and most complex recall in u.s. history. this issue is urgent. 10thrch 31 we had the confirmed fatality in the united states due to a rupture of a recalled in flavor. just this morning, honda announced the

time for a look at the business news with markus karlsson. first up, we are looking at that rather worrying situation in alberta, canada, those wildfires continuing to rage, and the fallout for the oil industry. that wildfire has grown in size in the past 24 hours or so. it's having an impact on oil markets. this as the fire is ranging -- raging new the heart of alberta's oilsands industry. although oil facilities are not directly in the path of the fire, several firms have curbed their production. delano d'souza has more details. canada's leading experts is at stake. forced evacuations have led to the shutdown of nearly 800,000 barrels of crude production at major energy producers, including royal dutch shell. the province of alberta plays a vital role in the canadian economy. it is in the city of fort mcmurray where nearly half of the barrels of oil produced in the country come from. canada ranks fifth in the world in terms of oil production, and oilsands where fort mcmurray sets have been dubbed the country's greatest buried treasure. oil

markus karlsson is here with that. starting here in france, report .n the french labor reforms francois hollande is sticking by them and a lot of protesters on the street saying otherwise. markus: indeed, this package was put to the test in the streets this tuesday, as we saw thousands of protesters coming out in cities like marseilles, paris, worried about a watering down of their rights as workers. the cdc union says 220,000 people came out, while police sources say 68,000 people came out. quite a large discrepancy there. as we usually see whenever there are protests of this magnitude. in any case, the turnout was smaller than we have seen for previous protests, with 400,000 people coming out at the end of march. seemsay was a test, it the labor reform package pass pattern has test at least today because we see further strikes and protests later on this week. in the meantime, as laura was just saying, we heard from the french president and he said the government won't back down, he won't give in, the reform package wi

markus karlsson back with us in the studio. kicking off with the crisis right here in france, the government says it has already had to get into strategic oil reserves. markus: indeed, we got that is from france's transport minister earlier this wednesday. he says france has used three days worth of strategic fuel reserves out of a total of 115 days of supply. as small business owners say they are suffering from a lack of petrol during the ongoing oil strike. the northwest of france and areas in the southeast are the hardest hit regions. elliott richardson takes a closer look at france's strategic oil reserves and what they are there for. elliott: a strategic plan by france. the blockades around oil refineries has led to widespread disruption. the oil reserves have been used for the first time since 2010. each fuel company put aside 30% of its production last year as part of the reserves. france has been dipping into them for the past two days, according to the secretary of state for transport. >> it amounts to 115 days of consu

markus karlsson is here. begin with that warning about what the brexit could mean for the united kingdom. markus: a recession, according to the bank of england, as it came out with it sharpest warning yet, really, that a departure from the european -- governorcost mark carney says that a brexit would have material consequences. the bank of england has slashed its growth forecast for the uk's economy this year from 2.2% to 2%. a former british finance minister has criticized kearny' -- carney remarks, saying that the governor should be careful not to's cause a crisis, but carney says it is his duty to warn about upcoming risks. >> the judgment is not based on -- it is a judgment not based on a whim. it is based on rigorous analysis on careful consideration. and it is the judgment of the independent mtc, i will make that very clear. also this thursday, the bank of england kept its benchmark interest rate steady. if we look further at the brexit issue, british broadcaster itv says advertisers are holding back sp