Transcripts For BBCNEWS Verified 20240703

Of its choosing. Oil prices are particularly volatile, given the regions role in producing a commodity so vital to the functioning of the Global Economy. Well, oil prices have actually been falling and thats because many traders think the risk of escalation is already factored in to the price. The American Bank citigroup though is warning that if there is more direct conflict between the two, oil prices could soar above 100 a barrel. And its likely that all of this will dominate the agenda for central bankers and Finance Ministers who are gathering this week in washington dc for the annual International Montary fund and world bank meetings. Ahead of that, the head of the imf Kristalina Georgieva has been warning the Global Economy faces a sluggish and disappointing decade amid all the uncertainty. Any impact, as small as it might be, is not desirable in an economy with high uncertainty. And inflation still not being brought down to target, very simple, oil prices go up, inflation goes up, so what can be done to bring down uncertainty is, of course, for others, for those in politics, the military, from an economic standpoint, the more we reduce uncertainty, the better. The view of the head of the imf but there is a lot of uncertainty around. Our middle east Business Correspondent Sameer Hashmi is in riyadh for us and he told me more about the market reaction. Over the weekend, it did not go out much. Thats because on friday we saw brent, one of the most touching a six month high, that is due to multiple factors. It had anticipated this attack so that was already factored in by the markets and there was disappointing Inflation Data coming in from the United States but what analysts are saying right now is a lot will depend on israels action going ahead. If it decides to initiate a strong response towards iran, that could send up Oil Prices Higher because iran is the Third Largest oil producer, standing at about 300 Million Barrels per day so it becomes an important supplier as far as the Global Markets go at any disruption on its infrastructure or disruption on its infrastructure or disruption on its infrastructure or disruption on the routes it has been using to send oil could really upset the market. So thats something that the market. So thats something that the markets are going to closely watch over the next few days and the prices could move accordingly. Mm . Prices could move accordingly. Away from the financial prices could move accordingly. Away from the Financial Impact prices could move accordingly. Away from the Financial Impact there has also been impact on things like flights. We know that a number of countries in the region are closing airspace as a result from the potential Drone Strikes and retaliation. What are we hearing about the impact on flights across what is a busy traffic route . Irate about the impact on flights across what is a busy traffic route . We saw a lot of countries what is a busy traffic route . We saw a lot of countries in what is a busy traffic route . We saw a lot of countries in the what is a busy traffic route . We saw a lot of countries in the middle a lot of countries in the middle east shut down their airspace is over the weekend after the attack was launched. Most of them had resumed flights, including israel, lebanon, iraq, jordan, all of these that had shut down their airspace, but a lot of flights had to be cancelled over the weekend and even today. According to one report i was reading, this was the single biggest disruption to air flights since 2001, september. Disruption to air flights since 2001, september 11. This was the impact it had on the Airline Industry. The biggest challenge for the Airline Industry is that a lot of them have to re route, choose different path is to fly because they dont want to take the risk and that means additional costs for the airlines because that means higher consumption and also it will take a longer period to get from one place to another. Tesla will lay off more than 10 of its global electrical vehicle workforce thats roughly ia,000 jobs. In a memo, first reported by news website electrek, Billionaire Owner elon musk told staff there was nothing he hated more, but it must be done. The Worlds Largest auto maker based on its market value had nearly 140,500 staff around the world as of december, according to its latest annual report. Michelle fleury in new york. We dont have too many details about why these lay offs are happening. No, but tesla is the Worlds Largest maker of premium electric vehicles and i think weve seen for a while now a fairly middling performance in terms of demand by consumers for these types of cars, Notjust Teslas but across the board. An analyst at barclays, down leavy, described this as kind of switching from ev euphoria to ev winter, describing the broader conditions on the market. Now we have this report essentially saying that tesla apparently is cutting 10 of its workforce, that if you look at recent filings, suggest its about 15,000 people from its global operations. We reach out to test but they have not responded to our request for comment. This is a question of tough times building up for a company that recently have reported fairly weak and disappointing sales. Reported fairly weak and disa ointin sales. ,. , disappointing sales. Tesla in some res ects disappointing sales. Tesla in some respects changing disappointing sales. Tesla in some respects changing the disappointing sales. Tesla in some respects changing the market disappointing sales. Tesla in some respects changing the market or. Respects changing the market or creating a market for electrical vehicles that wasnt necessarily there in the first place but proving that even a Market Leader like tesla is finding the market and consumers difficult to crack because its about range anxiety, charging infrastructure and about how many people will trust these cars to get them where they want to go. I think ou are them where they want to go. I think you are right. Them where they want to go. I think you are right. They them where they want to go. I think you are right, they created them where they want to go. I think you are right, they created the you are right, they created the market certainly here in the United States where i am. This push we have seen from the Current Administration trying to get consumers to adopt more evs but the anxiety, range or whatever it is, Anxiety Driving people to making the switch or not being able to make the switch. In the case of tesla, Making Hybrids is not an option and elon musk has to postpone his dream to make a more Affordable Electric vehicle at the moment because of that lack of demand. I think in china, the story is somewhat different. That is a huge market for tesla and it is their home grown competition that has risen so sharply, byd is now the Worlds Largest manufacturer of electric vehicles and they are putting Price Pressure on tesla, it was forced to cut prices in that market so thats also causing a headache for the company. find headache for the company. And different price headache for the company. And different price points of those chinese made cars. Aluminium and nickel prices have soared on the London Metal Exchange as a result of new us and british sanctions on russian metal products. They were imposed over the weekend in the latest effort by Western Powers to try and limit the amount of money president putins government has to fund its war in ukraine. At one point, Aluminium Pricesjumped 9. 4 , the biggestjump in the nearly ito year history of what is a globally significant contract for the metal that is used in everything from drinks cans to power lines. Russia is a very large producer of both metals, between 3 and 4 , also in the Copper Markets and also in plating as well. Russia is very important in the Global Supply chain for lots of metals alongside oil and thats why the allied countries are using sanctions against russia to squeeze the country to reduce its ability to finance the current wire. There is a concern about dumping, about russian sellers dumping all metals onto the exchange to try and influence the price. What impact could that have and how easy is that to do . ~. , could that have and how easy is that todo . ,. , to do . When the initial sanctions came about to do . When the initial sanctions came about in to do . When the initial sanctions came about in 2022, to do . When the initial sanctions came about in 2022, the to do . When the initial sanctions i came about in 2022, the exchanges were still able to use the metal, deliver the metals, and therefore we found that up until the new ban came into place on saturday from the London Metal Exchange, 90 of the inventory of aluminium at the warehouse was russia, it became the exchanges last resort because lots of companies where self sanctioning themselves, not accepting russian material and therefore a lot of that material and therefore a lot of that material went on to the lme and that had the threat of reducing the prices on the lme which should now change after saturdays ban, taking that weight off the price. In other news samsung has regained its position as the worlds top mobile phone producer, with shipments rising nearly 8 over the past year, while shipments of the apple iphone have fallen by nearly 10 . Thats according to figures from the International Data corporation. Samsung now has a Global Market share of nearly 21 . In recent weeks, samsung indicated its profits in the First Quarter of 2024 should be more than ten times higher than in the same period last year. Biden administration is to give grants to samsung for its Chip Production in texas, part of its plan to provide more security for high tech manufacturing. The white house has described it as a major new chapter in the semiconductor industry. Olaf scholz has called for an open and fair market for chinese cars. But speaking to students in shanghai, he warned against dumping and overproduction. Last week in china, the us treasury secretary janet yellen voices similar concerns about excess capacity in chinese manufacturing, leading to low export prices. Chancellor scholaz is expected to challenge chinas president xi tomorrow on his countrys support for russias wartime economy. Those are the top Business Stories here on bbc news. The french government says it hopes an International Conference On Sudan Being held in paris will break the wall of silence around the conflict, which erupted exactly a year ago. Fighting between the Sudanese Armed forces and the Rapid Support forces has claimed thousands of lives, displaced more than eight Million People and triggered what the United Nations describes as the Worlds Largest hunger crisis. Speaking at the paris conference, the French Foreign minister said the sudanese people had been victims of indifference. We can speak to dallia abdel moniem, a sudanese advocacy worker, whos currently displaced in egypt. Welcome to the programme. We spoke to you originally right at the start of this conflict when you are moving around neighbourhoods in khartoum as the violence got closer. Now you are in egypt. Filling the gaps that story. In egypt. Filling the gaps that sto. ~ ,. ,. , story. Well, it took us two weeks to be able to leave story. Well, it took us two weeks to be able to leave sudan story. Well, it took us two weeks to be able to leave sudan and story. Well, it took us two weeks to be able to leave sudan and find be able to leave sudan and find safety. Initially, we were all separated, we still are separated. I have family scattered all over the place but right now, cairo has become our base. The proximity to sudan, the language, the culture, it made it easier. We are here now and it still feels very surreal. I still sometimes wake up and need to pinch myself to know where i am because i still think that i am back home and following the news and reports of what is happening in sudan. In terms of the facts, how many of your family escaped and how frightening was what you left behind . Right now, in my immediate was what you left behind . Right now, in my immediate family, was what you left behind . Right now, in my immediate family, we was what you left behind . Right now, in my immediate family, we have was what you left behind . Right now, in my immediate family, we have no. In my immediate family, we have no one left in khartoum. Generations have been there since the 1800s and no longer. It was frightening because we didnt want to leave but we had no other choice. Its difficult when you leave out of your own free will but when you are forced to leave for safety and security, its a whole different ball game so to speak. It hasnt been any easier. Im fine, im safe now but if you think about those who are still back in sudan who were not able to leave and were caught up in the cycle of violence that hasnt stopped, its been ongoing for 365 days, a whole year, and keeps getting worse. The situation back home isnt getting any better. We dont get any good news from sudan whatsoever these days and my fear is with the looming famine, the humanitarian situation is going to get worse and worse the longer this war drags on. You get worse and worse the longer this war drags om war drags on. You heard what the french have war drags on. You heard what the french have said war drags on. You heard what the french have said at war drags on. You heard what the french have said at this war drags on. You heard what the i french have said at this conference, talking about the indifference for sudanese people, described as a forgotten conflict. When you reflect on that, you are a journalist, why do you think it has been forgotten by the International Community . So by the International Community . Sr many different reasons. I think there is conflict fatigue, its another war in africa, sudan has a very bloody history so theres a lot of shrugging of the shoulders. Theres also an inherent bias that africans, arabs, muslims, and at the same time, other ongoing conflicts have taken over. The main headlines and main government positions in places like ukraine. So its a combination of several reasons and factors, and also the fact that neither the Rapid Support forces or Sudanese Armed forces are allowing media in to report accurately, the reports we get are from those on the borders of chad, egypt and south sudan. The only accurate reporting from inside sudan is from local volunteers and local responders and their outreach is limited because of their outreach is limited because of the end of the day they are trying to help and save lives so to accurately document and speak about whats happening is falling upon deaf ears. For whats happening is falling upon deaf ears. ,. ,. ,. , whats happening is falling upon deaf ears. ,. ,. , whats happening is falling upon deafears. ,. ,. , deaf ears. For anyone who has been forced to leave deaf ears. For anyone who has been forced to leave their deaf ears. For anyone who has been forced to leave their country, deaf ears. For anyone who has been forced to leave their country, do forced to leave their country, do you think its realistic to think you think its realistic to think you will be able to get back to sudan . I you will be able to get back to sudan . ,. You will be able to get back to sudan . ,. ,. , � ,. , you will be able to get back to sudan . , � ,. , sudan . I hope so. Thats what i wish for, thats what sudan . I hope so. Thats what i wish for, thats what i sudan . I hope so. Thats what i wish for, thats what i pray sudan . I hope so. Thats what i wish for, thats what i pray for sudan . I hope so. Thats what i wish for, thats what i pray for on sudan . I hope so. Thats what i wish for, thats what i pray for on a for, thats what i pray for on a daily basis because i dont like being away from my country, i dont like the fact i was forced to leave and i had no say in my leaving. Iam hopeful that there will be a time very soon that we will be able to go back and rebuild our lives and rebuild the country. Back and rebuild our lives and rebuild the country. Dallia, Thank Ou Aaain rebuild the country. Dallia, thank you again for rebuild the country. Dallia, thank you again for talking rebuild the country. Dallia, thank you again for talking to rebuild the country. Dallia, thank you again for talking to us rebuild the country. Dallia, thank you again for talking to us todayl rebuild the country. Dallia, thank i you again for talking to us today to talk about what the last 365 days have been like. 2024 is the year of elections with at least 50 countries around the world going to the polls. But when it comes to the numbers one stands above the rest. Indias General Election to be held over six weeks between the 19th Of April and the 1st Ofjune Is Set to be the biggest the world has ever seen. 969 Million People will be taking to the polls roughly one in eight of the global population. Prime minister Narendra Modi is hoping to win a third successive term, but Opposition Parties say indians face the loss of many freedoms if he stays in power. Our south asia corresondent Samira Hussain has more from rajasthan. The first of seven phases in voting in indias General Election is due to take place on friday. Prime minister of Narendra Modi and the bjp are likely to win a third consecutive term in office. Nevertheless, you see that they are campaigning hard. Just take this swing state of rajasthan and you see posters and flags for the bjp and the ruling party on several street corners. Dozens of Opposition Parties have banded together to form an alliance to try and counter some of the prime ministers popularity. So what are the issues that matter to voters . Well, one, of course, is the economy and the issue of unemployment, especially among young people. The Main Opposition Party say that under the prime ministers leadership over the last decade, there has been an erosion of democratic principles, especially when it comes to indias largest minorities, muslims. Ultimately, though, what will happen in this election will be decided in the ballot box with results coming out at the beginning ofjune. Plenty more on the bbc news website on that election. Around four million journeys are made every day on our motorways and major a roads and along the way, all too often, there are potholes. So, whos responsible for fixing them . Our transport correspondent katy austin has more. Theyre the nemesis of drivers up and down the country. On the m40 motorway in buckinghamshire, we saw quite a few. So we actuallyjust have gone over a pothole, which i couldnt really avoid because theres traffic on both sides. And im not even going that fast im going about 50 because of the conditions, and that wasnt one i could avoid. Luckily, it wasnt a very big one. The driver of this car was in the middle lane of the m6 in late february, when he says a pothole burst two of his tyres. Thankfully, he managed to pull over safely. It was quite scary. I think if we were in a vehicle that didnt have such advanced features, it would have been really easy to lose control of the car especially because we had two punctures to the same side. To see a pothole of such significance, and that could cause so much damage to a vehicle, was really surprising. With no spare tyre, jonathan and his passengers had to wait for breakdown and recovery services. The damage cost him £700, and he says the Offending Pothole was still there six weeks later. On all types of road including smaller local ones motoring groups say its been a bad year for potholes. And its not only car drivers who can fall victim. Just ask this delivery business. Ive never known, in 32 years of business, potholes being in the situation and the state that they are now. The teams around the country say that theres been damage to vehicles such as you can see here, that are happening on a daily basis. And, as a result of that, thats increasing insurance claims, and its increasing the cost to our network and to our customers in delays. It does happen on motorways as well as a roads and b roads. The challenge with motorways is that it tends to be a far more high impact collision with the pothole, and that, of course, can be extremely dangerous. National highways, which maintains britains major roads, told us it had a comprehensive inspection programme, and that when potholes are identified, it aims to repair any which are categorised as safety defects within 24 hours. The aas advised anyone unlucky enough to hit a pothole on a motorway badly enough to damage their vehicle is to try to get over to the hard shoulder or an emergency area, or leave the motorway at the nearest exit if you can. Katy austin, bbc news. Singer Nicole Scherzinger was among the winners at sundays olivier awards. The event which recognises the best of uk theatre took place at londons Royal Albert Hall. Our culture reporter Charlotte Gallagher was there. Star power on full display at the olivier awards. This years nominations were full of Household Names like andrew scott, sarah snook and Nicole Scherzinger. Nicole scherzinger was one of the winners after wowing critics and audiences in sunset boulevard. She took home best actress in a musical. It is a really complete phenomenon. I never expected it, you know, ifeel like ive. Its like norma says, ive come home at last, but i didnt know it would be with this show. Her co star, tom francis, who performed during the oliviers, won best actor in a musical. Another winner was the sherlock and League Of Gentlemen star mark gatiss. He won best actor for the motive and the cue, beating off competition from andrew scott, james norton, Joseph Fiennes and david tenna nt. Ive known David Tennant for 25 years, andrew obviously from sherlock for a very long time, and its just amazing to be in that company joe fiennes and james norton as well. Succession� s sarah snook was another big name taking home one of those prestigious trophies for her one woman production of the picture of dorian gray. Are you in shock . Very much in shock. Yes, yeah, yeah. Ithink the, um. Just even the architecture of the building is shocking to walk into the Royal Albert Hall and be like, whatam i doing here . Whats this. . Here in the west end with the cream of the cream of london theatre. Its. Its a dream come true. Operation mincemeat, a show inspired by A Real Life World War Ii mission, won best new musical. Another big winner was dear england, the play about Gareth Southgate and his england team. Will close, who played harry kane, won an olivier at his first ever awards show. And Dame Arlene Phillips won her First Olivier at the age of 80. Charlotte gallagher, bbc news. In the next hour, we will get the latest from the middle east. News in the last few moments that easyjet will suspend flights to and from tel aviv. Weve had the latest reports out of the war cabinet suggesting that israels objective is to hurt iran without causing all out war. Thats the latest line emerging. Least you set is live injerusalem and will be talking to the former Us National Security adviserjohn bolton lyse doucet is in jerusalem. The trial has also started in new york, day one of the Hush Money Trial Of Donald Trump, The First Criminal Trial Of A Former us president. And finally, in the next hour, we will be looking at that new report about the state of coral reefs around the world and the report of another mass bleaching. All of that coming up in the next hour. Hello there. Wild weather to greet us first thing this monday morning. We had four seasons in one day. There were two tornado is reported and a light dusting of snow in bradford this morning. But at the same time, there were windows of brighter, sunnier, springlike moments in kent. This area of low pressure, the front moved through quite quickly but a strong Northwesterly Wind fed quite a lot of showers in and over Higher Ground there will continue to be wintriness from time to time. The showers were gradually receded as they move into the north sea. More cloud and showers along the east coast but clear skies and showers elsewhere. Tuesday on the whole will be a slightly quieter day for most of us. Again, anywhere from yorkshire down towards east anglia could continue towards east anglia could continue to see cloud and showers and with that strong northerly wind, i called feel to the day but further west, lighter winds, feel to the day but further west, lighterwinds, more in feel to the day but further west, lighter winds, more in the way of sunshine coming through. There will still be showers but hopefully few and far between in comparison to today and with the wind is a little bit lighter, temperatures likely to peak between nine and i3 celsius. As we move out of tuesday into wednesday, we start to see an area of High Pressure building on from the atlantic. We will need to be patient but it indicates a slightly quieter story towards the weekend. There will be outbreaks of rain from this Weather Front thats toppling across the High Pressure. A quiet start on wednesday, a chilly start for some of us but there will be some sunshine, Clouding Overfrom The West across northern ireland, through the irish sea and into wales by the end of the day and a few scattered showers elsewhere. Temperatures climbing to around 13 or 14 celsius. Then the High Pressure will tend to build, keep things largely fine and quiet as we head towards the weekend, a Degree Orso Head towards the weekend, a degree or so warmer with it as well. This is bbc news live from Jerusalem With Me lyse doucet. And im Matthew Amroliwala in london with todays verified live. Renewed calls from washington and london for israel not to retaliate after irans missile and drone attack at the weekend. The ascale of the ttack on the fact that it was targeted directly at israel are without precedent. It was a reckless and dangerous escalation. New pictures emerge of some of the hundreds of missiles and drones fired at israel by tehran. Well talk live to the former us National Secruity adviser john bolton. Todays other main headlines the Hush Money Trial Of Donald Trump opens in new york The First Criminal Trial Of A Former us president. I live outside the courthouse in new york where court is in session and a high stakesjury york where court is in session and a high stakes Jury Selection is set to begins shortly. Sir Salman Rushie speaks to the bbc about the knife attack which almost ended his life in new york two years ago