Business Matters

Tropical Storm Hilary swept across the US state of California on Sunday night, bringing fierce winds and flooding to the Pacific coast. Now headed north to Nevada, the storm passed over Southern California, with record rainfall and flash flooding predicted in the Death Valley National Park. The storm is expected to deal a major blow to the region's economy, including its vineyards which last year generated over $88 billion for the US. Left-winger Luisa Gonzalez is leading in Ecuador's presidential election. The poll was combined with a referendum, in which voters chose to end oil drilling in the Amazon. What could this mean for the country's economy, given that oil production accounts for almost 30 percent of its exports? We also head to Valencia to see how people in the city have been celebrating Spain winning the Women's World Cup. Roger Hearing will be joined throughout the programme by Rachel Pupazzoni, business reporter for ABC News Australia and Peter Morici, economist at the University of Maryland in Alexandra, Virginia. (Motorists deal with a flooded road and stuck vehicles during heavy rains from Tropical Storm Hilary in Palm Springs, California. Photo Credit: Getty Images)