Transcripts For BBCNEWS World Business Report 20240711 : com

For most companies, making a product for which theres guaranteed demand Around The World sounds too good to be true, but a successful covid 19 vaccine promises to be just that. One vaccine shot, or a couple as your first booster, is not going to provide lifetime immunity to the virus, so the manufacturers are set to reap the profits for years to come. Drug maker pfizer reports its earnings later today, the question is which of the drugs firms are going to come out on top, and how lucrative Will Making Vaccines actually turn out to be . Joining me now is Sunaina Sinha haldea, managing partner, cebile capital. Thank you for being on the program. First of all, pfizer, when it comes to its news today. This will obviously not have in todays earnings, profits it is going to make with this vaccine it has come up with this vaccine it has come up with biontech . M0 with this vaccine it has come up with biontech . With this vaccine it has come up with biontech . No it wont. There will up with biontech . No it wont. There will be up with biontech . No it wont. There will be some up with biontech . No it wont. There will be some revenue up with biontech . No it wont. There will be some revenue in | there will be some revenue in the pfizer and vaccines are just one of the six different streams it has. There will be some bump from the dissemination of the vaccines in quarter four but the best and rest of the story is still to come in terms of the revenue bump from vaccines in 2020 want. �. , bump from vaccines in 2020 want. �. , want. And what will the bump before pfizer want. And what will the bump before pfizer longterm . Want. And what will the bump before pfizer longterm . In l want. And what will the bump l before pfizer longterm . In the longterm. Before pfizer longterm . In the longterm, pfizer before pfizer longterm . In the longterm, pfizer is before pfizer longterm . In the longterm, pfizer is not before pfizer longterm . In the longterm, pfizer is not meant| long term, pfizer is not meant to see a huge. Remember, pfizer is a conglomerate. They will see a big boost to their Vaccines Division but remember it has a profit share with biontech to which it owes royalties. On top of that, the consolidated financials of the business are slow growth. Pfizer trades at Something Like 12 times earnings whereas its peers likeJohnson Johnson peers like Johnson Johnson trade peers likeJohnson Johnson trade at 19 times higher. I would not call pfizer, despite the vaccine, one of the big Growth Stocks in the market today. Growth stocks in the market toda. � ,. , Growth Stocks in the market toda. ,. ,. , today. Also ust to explain to the today. Also just to explain to the layman. Today. Also just to explain to the layman, when today. Also just to explain to the layman, when it today. Also just to explain to the layman, when it comes l today. Also just to explain to | the layman, when it comes to these big pharma companies, they have to invest an awful lot dont stay in the research and development in finding the new vaccine or the new drug and then actually after so many years, generic versions come out anyways which undermines future profits, doesnt it . Absolutely. The absolute drug costs between 800 million 1 billion to bring to market and takes anywhere from eight 10 years. That is why when we talk about the absolutely spectacular Research Efforts that went into bringing the covid 19 vaccines to market so quickly, is absolutely unprecedented in the drug and Vaccine Development world. find Vaccine Development world. And in terms of what to invest with, if you were pfizer or astrazeneca orJohnson Johnson, ourvaccines astrazeneca orJohnson Johnson, our vaccines the area really to focus on now because i remember a year or so ago, prior to this global pandemic, it was all about cancer. Finding treatments and drugs to treat cancer and find cures, is it now all about vaccines . It it now all about vaccines . It is it now all about vaccines . It is certainly all about the covid 19 vaccines. Historically, youre absolutely right. Vaccines have not been the easiest or the most profitable area of investment for large pharmaceutical corporations. However, the covid 19 pandemic has changed all about. When you look the velocity of the variants coming to the market. We have lots moderna working on a booster shot for the south africa variant already. We thinking is going to be an annual Vaccination Effort . For these few pharmaceutical companies and a few others, it is all about the covid 19 Vaccine Development because of the Unprecedented Demand where almost every adult in the world will 1 to 1 either now or in the future. And that is sparing the future. And that is sparing the investment into this division on our. The investment into this division on our. , ~ , division on our. Thank you very much for division on our. Thank you very much for your division on our. Thank you very much for your analysis, much for your analysis, sunaina. Fraudsters are using the pandemic to cash in on the nations uncertainty and confusion. Data from barclays today shows 2020 was the year with the highest number of scams on record in the uk, with a 66 increase in the amount people were cheated out of in the second half of the year. Weve heard in recent weeks, for example, that fraudsters are sending out bogus nhs texts about the Coronavirus Vaccine in an attempt to steal bank details. So what what do we need to be watching out for . Joining me now isjim winters, head of fraud at barclays. Jim,i jim, i mean i have heard a lot about these stories of people being scammed and told they need to pay for vaccines et cetera from the nhs, it is pretty shocking but not surprising that fraudsters are trying to make some money right now. , ~ ,. Trying to make some money right now. ,. , now. Yes. We saw such a significant now. Yes. We saw such a significant rise now. Yes. We saw such a significant rise in now. Yes. We saw such a significant rise in the now. Yes. We saw such a significant rise in the number of scams last year. As you said, about 66 in the second half of the year alone, that we are on a mission to raise awareness for the problem. We are asking people not to be embarrassed and to speak out if they think they are being scammed or if they have been scammed or if they have been scammed to share their story with Family Orfriends with family or friends so other people might avoid the same problem. 50 people might avoid the same roblem. , people might avoid the same roblem. , problem. So what will be banks do if ou problem. So what will be banks do if you have problem. So what will be banks do if you have been problem. So what will be banks l do if you have been scammed out of however much . I know in some circumstances the bank has a duty of care, you have to automatically refund your customers. Is that in every situation when it comes to scams . ,. , situation when it comes to scams . ,. ,. , scams . So, yes, we are proud to be a participant scams . So, yes, we are proud to be a Participant Of Scams . So, yes, we are proud to be a participant of the be a participant of the Reimbursement Model Code which is a set of standards drawn up to ensure customers get the best protection when it comes to scams, and we make our Refunds Decisions in line with that code. 50 Refunds Decisions in line with that code Refunds Decisions in line with thatcode. , that code. So what do customers need to make that code. So what do customers need to make sure that code. So what do customers need to make sure they that code. So what do customers need to make sure they are need to make sure they are doing in order to not become a victim . ,. ,. , victim . The best advice is the most obvious victim . The best advice is the most obvious advice victim . The best advice is the most obvious advice which victim . The best advice is the most obvious advice which is| most obvious advice which is if it looks too good to be true, it is. The other advice i would give is never be pressured, never be rushed. Fraudsters use a lot of Scare Tactics to try to encourage people to fall victim to their scams. So never be pressured or rushed, no legitimate company would give you a time limit or put undue pressure on you on the spot. And also, as we said, if you feel like being targeted and make sure you speak out, speak to a friend, Family Member or give your bank a ring. find to a friend, Family Member or give your bank a ring. And why do ou give your bank a ring. And why do you think give your bank a ring. And why do you think this give your bank a ring. And why do you think this is give your bank a ring. And why do you think this is really do you think this is really grown in the last 12 months . We susect grown in the last 12 months . Suspect that fraudsters have got a bit more of a captive audience during the pandemic so they know the people are going to be at home if they are approaching them by telephone. And also it may be true that some people are cut off from some people are cut off from some of their support networks. So while they are at home, theyre in lockdown, dont have friends and family around them that might normallyjust turn to check with them to say, do you think this is all right . We think that is definitely playing a part. Think that is definitely playing a part think that is definitely playing a part. And what is this costing playing a part. And what is this costing banks . Playing a part. And what is this costing banks . I playing a part. And what is this costing banks . I cant| this costing banks . I cant share exact this costing banks . I cant share exact figures, this costing banks . I cant share exact figures, there j this costing banks . I cant share exact figures, there are industry figures available, but the individual costs could be from a few hundred pounds of what we call purchase scams, right up to many thousands of pounds for some of the investment scams we have seen. For manx themselves, you shoulder a lot of the burden yourself to a great degree because in many cases customers are reimbursed by the bank. Correct. And because of last year and the contingent reimbursement model, we saw about a 50 increase in those customers being refunded for scams, which is many millions of pounds. Scams, which is many millions of pounde of pounds. Thank you, we will kee a of pounds. Thank you, we will keep a close of pounds. Thank you, we will keep a close eye of pounds. Thank you, we will keep a close eye on of pounds. Thank you, we will keep a close eye on what of pounds. Thank you, we will keep a close eye on what is i keep a close eye on what is going on. Jim winters, head of fraud at berkeleys. Barclays. Lets get some of the days other news. Robinhood, the online brokerage at the centre of the gamestop saga, has raised 2. 11 billion in its second capital injection in a week to shore up finances strained by turbulent trading. Just days ago investors agreed to pump 1 billion into the company to help backstop trades that robinhoods customers place, after its Clearing House asked for more Collateral Due to heightened volatility. Japanese gaming giant nintendo has hiked its full year forecast for switch console sales to 26. 5 Million Units from 2a million previously. The move comes after a bumper end to 2020, buoyed by a Home Entertainment boom as people were stuck at home during the pandemic. The company pointed to upcoming titles like Super Mario 3d World And Monster Hunter Rise as boosters for switch sales. Mcdonalds has quietly begun selling the Mcplant Burger in denmark and sweden, giving the fast food giant insight into Customer Interest before more locations roll out the meat alternative. Mcplant was co developed with beyond meat, and is made from pea based protein, according to mcdonalds danish and swedish websites. Myanmar� s economy, already teetering from the covid 19 pandemic, was dealt another body blow by a Military Coup on monday. The countrys military seized power in the capital and declared a year long state of emergency. Lets go to Sharanjit Leyl whos following the storty from our Asia Business hub. Sharanjit leyl Shara Njit Leyl has Sharanjit Leyl has been looking at implications. Tell us more. It really couldnt come at a worse time for me and my which is like many other countries Around The World, grappling with the coronavirus pandemic. Covid 19 has really stalled the growing economy. The travel ban hitting the countrys Service Industry which represents more than 40 of myanmar� s output, and its major investors in the region, the likes of china, thailand, singapore, very thailand, singapore, very worried thailand, singapore, very worried about their investments there. China has made big bets on the countrys in structure, investing in its health and road projects. Analysts i have spoken to us saying that china is very likely reassessing its investments in countries where there is such political volatility. It also shot a lot of Foreign Companies operating there. You got the likes of japans toyota deck, scheduled to open their first car plant there earlier this month. They had invested and were hoping that the end of Military Rule would open up Business Opportunity is there. Toyota are reportedly saying they are preparing for production as scheduled at the moment. We had from the us president , joe biden, and he is threatening to reimpose sanctions, calling the queue a direct result on the countrys transition to democracy and the rule of law. Coup. This is going to stop any western or us countries and wanting to invest in myanmar. It may even really prompt some Big Us Companies to pull out, analysts have been telling me. We have total trade of goods between myanmar and the us which amounted to well over 1 billion last year. It is a Clothing Industry that is the major driver. We have got apparel and Footwear Accounting for some a1 of total us imports from mount martha. You have got the likes of luggage make our samsonite and an apparel maker, must the biggest importers. And retailer h mand adidas. Mand adidas. Thank you sharanjit mand adidas. Thank you Sharanjit Leyl, mand adidas. Thank you Sharanjit Leyl, that Sharanjit Leyl, that is a lot of big names there, on what that means to the Economic Impacts on bmr. Myanmar. France is home to some of the most romantic medieval castles in the world. But their owners are facing some very grim realities. Because of the pandemic, Visitor Numbers have plummeted. Despite the falling ticket sales, they still have to pay big bills for the upkeep of their chateaux. Stay with us on bbc news, still to come an Accellerating Trend investing in classic cars. We tell you which models are hot and which are not. The bbc has learned that the government is planning to invest Substancial Funds to alleviate the Cladding Crisis caused by the Grenfell Tower fire. Thousands of leaseholders have found themselves facing huge bills to make their homes safe. Yesterday, Opposition Mps backed a Labour Motion to set up a National Task force to deal with the Cladding Crisis, in which Conservative Mps abstained. Damejudi dench, sir lenny henry and Benedict Cumberbatch have launched this years red nose day fundraising campaign. The money raised will go towards tackling issues such as homelessness and domestic abuse; with some funds set aside to support those affected by the coronavirus pandemic. The red noses for this Years Campaign are plastic free and made from plant based materials. After a0 years, iconic Only Fools And Horses Characters Del Boy and Rodney Trotter have got the royal mails seal of approval. The bbc sitcom is to be commemorated in a series of royal mail stamps. This is bbc world news, the latest headlines the us condemns the Military Coup in myanmar as a direct assault on democracy and threatens to reimpose sanctions. Vaccine shortages threaten Around The World<\/a> sounds too good to be true, but a successful covid 19 vaccine promises to be just that. One vaccine shot, or a couple as your first booster, is not going to provide lifetime immunity to the virus, so the manufacturers are set to reap the profits for years to come. Drug maker pfizer reports its earnings later today, the question is which of the drugs firms are going to come out on top, and how lucrative Will Making Vaccines<\/a> actually turn out to be . Joining me now is Sunaina Sinha<\/a> haldea, managing partner, cebile capital. Thank you for being on the program. First of all, pfizer, when it comes to its news today. This will obviously not have in todays earnings, profits it is going to make with this vaccine it has come up with this vaccine it has come up with biontech . M0 with this vaccine it has come up with biontech . With this vaccine it has come up with biontech . No it wont. There will up with biontech . No it wont. There will be up with biontech . No it wont. There will be some up with biontech . No it wont. There will be some revenue up with biontech . No it wont. There will be some revenue in | there will be some revenue in the pfizer and vaccines are just one of the six different streams it has. There will be some bump from the dissemination of the vaccines in quarter four but the best and rest of the story is still to come in terms of the revenue bump from vaccines in 2020 want. \ufffd. , bump from vaccines in 2020 want. \ufffd. , want. And what will the bump before pfizer want. And what will the bump before pfizer longterm . Want. And what will the bump before pfizer longterm . In l want. And what will the bump l before pfizer longterm . In the longterm. Before pfizer longterm . In the longterm, pfizer before pfizer longterm . In the longterm, pfizer is before pfizer longterm . In the longterm, pfizer is not before pfizer longterm . In the longterm, pfizer is not meant| long term, pfizer is not meant to see a huge. Remember, pfizer is a conglomerate. They will see a big boost to their Vaccines Division<\/a> but remember it has a profit share with biontech to which it owes royalties. On top of that, the consolidated financials of the business are slow growth. Pfizer trades at Something Like<\/a> 12 times earnings whereas its peers likeJohnson Johnson<\/a> peers like Johnson Johnson<\/a> trade peers likeJohnson Johnson<\/a> trade at 19 times higher. I would not call pfizer, despite the vaccine, one of the big Growth Stocks<\/a> in the market today. Growth stocks in the market toda. \ufffd ,. , Growth Stocks<\/a> in the market toda. ,. ,. , today. Also ust to explain to the today. Also just to explain to the layman. Today. Also just to explain to the layman, when today. Also just to explain to the layman, when it today. Also just to explain to the layman, when it comes l today. Also just to explain to | the layman, when it comes to these big pharma companies, they have to invest an awful lot dont stay in the research and development in finding the new vaccine or the new drug and then actually after so many years, generic versions come out anyways which undermines future profits, doesnt it . Absolutely. The absolute drug costs between 800 million 1 billion to bring to market and takes anywhere from eight 10 years. That is why when we talk about the absolutely spectacular Research Efforts<\/a> that went into bringing the covid 19 vaccines to market so quickly, is absolutely unprecedented in the drug and Vaccine Development<\/a> world. \ufb01nd Vaccine Development<\/a> world. And in terms of what to invest with, if you were pfizer or astrazeneca orJohnson Johnson<\/a>, ourvaccines astrazeneca orJohnson Johnson<\/a>, our vaccines the area really to focus on now because i remember a year or so ago, prior to this global pandemic, it was all about cancer. Finding treatments and drugs to treat cancer and find cures, is it now all about vaccines . It it now all about vaccines . It is it now all about vaccines . It is certainly all about the covid 19 vaccines. Historically, youre absolutely right. Vaccines have not been the easiest or the most profitable area of investment for large pharmaceutical corporations. However, the covid 19 pandemic has changed all about. When you look the velocity of the variants coming to the market. We have lots moderna working on a booster shot for the south africa variant already. We thinking is going to be an annual Vaccination Effort<\/a> . For these few pharmaceutical companies and a few others, it is all about the covid 19 Vaccine Development<\/a> because of the Unprecedented Demand<\/a> where almost every adult in the world will 1 to 1 either now or in the future. And that is sparing the future. And that is sparing the investment into this division on our. The investment into this division on our. , ~ , division on our. Thank you very much for division on our. Thank you very much for your division on our. Thank you very much for your analysis, much for your analysis, sunaina. Fraudsters are using the pandemic to cash in on the nations uncertainty and confusion. Data from barclays today shows 2020 was the year with the highest number of scams on record in the uk, with a 66 increase in the amount people were cheated out of in the second half of the year. Weve heard in recent weeks, for example, that fraudsters are sending out bogus nhs texts about the Coronavirus Vaccine<\/a> in an attempt to steal bank details. So what what do we need to be watching out for . Joining me now isjim winters, head of fraud at barclays. Jim,i jim, i mean i have heard a lot about these stories of people being scammed and told they need to pay for vaccines et cetera from the nhs, it is pretty shocking but not surprising that fraudsters are trying to make some money right now. , ~ ,. Trying to make some money right now. ,. , now. Yes. We saw such a significant now. Yes. We saw such a significant rise now. Yes. We saw such a significant rise in now. Yes. We saw such a significant rise in the now. Yes. We saw such a significant rise in the number of scams last year. As you said, about 66 in the second half of the year alone, that we are on a mission to raise awareness for the problem. We are asking people not to be embarrassed and to speak out if they think they are being scammed or if they have been scammed or if they have been scammed to share their story with Family Orfriends<\/a> with family or friends so other people might avoid the same problem. 50 people might avoid the same roblem. , people might avoid the same roblem. , problem. So what will be banks do if ou problem. So what will be banks do if you have problem. So what will be banks do if you have been problem. So what will be banks l do if you have been scammed out of however much . I know in some circumstances the bank has a duty of care, you have to automatically refund your customers. Is that in every situation when it comes to scams . ,. , situation when it comes to scams . ,. ,. , scams . So, yes, we are proud to be a participant scams . So, yes, we are proud to be a Participant Of Scams<\/a> . So, yes, we are proud to be a participant of the be a participant of the Reimbursement Model Code<\/a> which is a set of standards drawn up to ensure customers get the best protection when it comes to scams, and we make our Refunds Decisions<\/a> in line with that code. 50 Refunds Decisions<\/a> in line with that code Refunds Decisions<\/a> in line with thatcode. , that code. So what do customers need to make that code. So what do customers need to make sure that code. So what do customers need to make sure they that code. So what do customers need to make sure they are need to make sure they are doing in order to not become a victim . ,. ,. , victim . The best advice is the most obvious victim . The best advice is the most obvious advice victim . The best advice is the most obvious advice which victim . The best advice is the most obvious advice which is| most obvious advice which is if it looks too good to be true, it is. The other advice i would give is never be pressured, never be rushed. Fraudsters use a lot of Scare Tactics<\/a> to try to encourage people to fall victim to their scams. So never be pressured or rushed, no legitimate company would give you a time limit or put undue pressure on you on the spot. And also, as we said, if you feel like being targeted and make sure you speak out, speak to a friend, Family Member<\/a> or give your bank a ring. \ufb01nd to a friend, Family Member<\/a> or give your bank a ring. And why do ou give your bank a ring. And why do you think give your bank a ring. And why do you think this give your bank a ring. And why do you think this is give your bank a ring. And why do you think this is really do you think this is really grown in the last 12 months . We susect grown in the last 12 months . Suspect that fraudsters have got a bit more of a captive audience during the pandemic so they know the people are going to be at home if they are approaching them by telephone. And also it may be true that some people are cut off from some people are cut off from some of their support networks. So while they are at home, theyre in lockdown, dont have friends and family around them that might normallyjust turn to check with them to say, do you think this is all right . We think that is definitely playing a part. Think that is definitely playing a part think that is definitely playing a part. And what is this costing playing a part. And what is this costing banks . Playing a part. And what is this costing banks . I playing a part. And what is this costing banks . I cant| this costing banks . I cant share exact this costing banks . I cant share exact figures, this costing banks . I cant share exact figures, there j this costing banks . I cant share exact figures, there are industry figures available, but the individual costs could be from a few hundred pounds of what we call purchase scams, right up to many thousands of pounds for some of the investment scams we have seen. For manx themselves, you shoulder a lot of the burden yourself to a great degree because in many cases customers are reimbursed by the bank. Correct. And because of last year and the contingent reimbursement model, we saw about a 50 increase in those customers being refunded for scams, which is many millions of pounds. Scams, which is many millions of pounde of pounds. Thank you, we will kee a of pounds. Thank you, we will keep a close of pounds. Thank you, we will keep a close eye of pounds. Thank you, we will keep a close eye on of pounds. Thank you, we will keep a close eye on what of pounds. Thank you, we will keep a close eye on what is i keep a close eye on what is going on. Jim winters, head of fraud at berkeleys. Barclays. Lets get some of the days other news. Robinhood, the online brokerage at the centre of the gamestop saga, has raised 2. 11 billion in its second capital injection in a week to shore up finances strained by turbulent trading. Just days ago investors agreed to pump 1 billion into the company to help backstop trades that robinhoods customers place, after its Clearing House<\/a> asked for more Collateral Due<\/a> to heightened volatility. Japanese gaming giant nintendo has hiked its full year forecast for switch console sales to 26. 5 Million Units<\/a> from 2a million previously. The move comes after a bumper end to 2020, buoyed by a Home Entertainment<\/a> boom as people were stuck at home during the pandemic. The company pointed to upcoming titles like Super Mario 3d World And Monster Hunter Rise<\/a> as boosters for switch sales. Mcdonalds has quietly begun selling the Mcplant Burger<\/a> in denmark and sweden, giving the fast food giant insight into Customer Interest<\/a> before more locations roll out the meat alternative. Mcplant was co developed with beyond meat, and is made from pea based protein, according to mcdonalds danish and swedish websites. Myanmar\ufffd s economy, already teetering from the covid 19 pandemic, was dealt another body blow by a Military Coup<\/a> on monday. The countrys military seized power in the capital and declared a year long state of emergency. Lets go to Sharanjit Leyl<\/a> whos following the storty from our Asia Business<\/a> hub. Sharanjit leyl Shara Njit Leyl<\/a> has Sharanjit Leyl<\/a> has been looking at implications. Tell us more. It really couldnt come at a worse time for me and my which is like many other countries Around The World<\/a>, grappling with the coronavirus pandemic. Covid 19 has really stalled the growing economy. The travel ban hitting the countrys Service Industry<\/a> which represents more than 40 of myanmar\ufffd s output, and its major investors in the region, the likes of china, thailand, singapore, very thailand, singapore, very worried thailand, singapore, very worried about their investments there. China has made big bets on the countrys in structure, investing in its health and road projects. Analysts i have spoken to us saying that china is very likely reassessing its investments in countries where there is such political volatility. It also shot a lot of Foreign Companies<\/a> operating there. You got the likes of japans toyota deck, scheduled to open their first car plant there earlier this month. They had invested and were hoping that the end of Military Rule<\/a> would open up Business Opportunity<\/a> is there. Toyota are reportedly saying they are preparing for production as scheduled at the moment. We had from the us president , joe biden, and he is threatening to reimpose sanctions, calling the queue a direct result on the countrys transition to democracy and the rule of law. Coup. This is going to stop any western or us countries and wanting to invest in myanmar. It may even really prompt some Big Us Companies<\/a> to pull out, analysts have been telling me. We have total trade of goods between myanmar and the us which amounted to well over 1 billion last year. It is a Clothing Industry<\/a> that is the major driver. We have got apparel and Footwear Accounting<\/a> for some a1 of total us imports from mount martha. You have got the likes of luggage make our samsonite and an apparel maker, must the biggest importers. And retailer h mand adidas. Mand adidas. Thank you sharanjit mand adidas. Thank you Sharanjit Leyl<\/a>, mand adidas. Thank you Sharanjit Leyl<\/a>, that Sharanjit Leyl<\/a>, that is a lot of big names there, on what that means to the Economic Impacts<\/a> on bmr. Myanmar. France is home to some of the most romantic medieval castles in the world. But their owners are facing some very grim realities. Because of the pandemic, Visitor Numbers<\/a> have plummeted. Despite the falling ticket sales, they still have to pay big bills for the upkeep of their chateaux. Stay with us on bbc news, still to come an Accellerating Trend<\/a> investing in classic cars. We tell you which models are hot and which are not. The bbc has learned that the government is planning to invest Substancial Funds<\/a> to alleviate the Cladding Crisis<\/a> caused by the Grenfell Tower<\/a> fire. Thousands of leaseholders have found themselves facing huge bills to make their homes safe. Yesterday, Opposition Mps<\/a> backed a Labour Motion<\/a> to set up a National Task<\/a> force to deal with the Cladding Crisis<\/a>, in which Conservative Mps<\/a> abstained. Damejudi dench, sir lenny henry and Benedict Cumberbatch<\/a> have launched this years red nose day fundraising campaign. The money raised will go towards tackling issues such as homelessness and domestic abuse; with some funds set aside to support those affected by the coronavirus pandemic. The red noses for this Years Campaign<\/a> are plastic free and made from plant based materials. After a0 years, iconic Only Fools And Horses Characters Del Boy<\/a> and Rodney Trotter<\/a> have got the royal mails seal of approval. The bbc sitcom is to be commemorated in a series of royal mail stamps. This is bbc world news, the latest headlines the us condemns the Military Coup<\/a> in myanmar as a direct assault on democracy and threatens to reimpose sanctions. Vaccine shortages threaten Health Services<\/a> in madrid as a third wave of Coronavirus Infections<\/a> hits spain. January is gone and we are now into the second month of the new year. Hows that resolution working out for you . Our colleagues from the region have been asking people about their hopes for 2021. And heres what we heard back from shanghai, bangkok, and delhi, to name just a few. I want to go out with my friends again. I think it will be nice to be able to travel, it will be nice to be reunited with family and friends. If it happens, it happens. I hope the world realises the need for a better Global Healthcare<\/a> system. So far through the pandemic, really. Far through the pandemic, really. I far through the pandemic, really, i think i am privileged enough really, i think i am privileged enough. It is brought me face to face with my privilege. I face to face with my privilege. Iwant face to face with my privilege. I want to face to face with my privilege. I want to say that i am thankful that it feels insensitive since that is not really insensitive since that is not really the case for most of us. And really the case for most of us. And i really the case for most of us. And iiust really the case for most of us. And ijust want things to be better and ijust want things to be better for everyone. Interesting to hear what people think about this year given that over used word unprecedented. Before the pandemic, classic cars were one of the top ranking alternative Investment Assets<\/a> and it seems that despite covid 19, collectible vehicles have not lost their appeal. The market in classic cars below \u00a3100,000 is very buoyant. Lockdown gave people more time to reconnect with their hobby, and encouraged some people to make the purchase theyve always wanted. New, younger buyers are entering the picture, and modern classics are more sought after than older cars. Modern classics like the vw mk1 golf are much in demand aspirational performance cars evocative of the 1980s era that many of todays 40 something buyers want to own. Joining me now isjohn mayhead, head of uk valuations, hagerty. Hagerty is an automotive Insurance Company<\/a> and the Worlds Largest<\/a> provider of speciality insurance for collectible vehicles. I would imagine the insurance bill is big is net for these sort of cars . It bill is big is net for these sort of cars . Sort of cars . It can be reasonable sort of cars . It can be reasonable on sort of cars . It can be reasonable on classic| sort of cars . It can be reasonable on classic cars because the idea is that you use them when you want to use them for pleasure rather than for some of the more mundane tasks that you would normally use your normal day car for. Tell us about this increase in demand during the pandemic. Our headlines here when it comes to business and the economy is all about people losing jobs, being furloughed, concern about their Economic Outlook<\/a> and et cetera. This doesnt go with that, does it . I this doesnt go with that, does it . ,. It . I had the price guide in the uk version of that we track down 40,000 values of classic cars and on the whole that rose by 3 last year. But that does not tell you half of the story. As you say, classic cars are not like another commodity. They are the purchase of an enthusiast. There is emotion involved. And what we saw was that there was this real re linking with people and their hobby and what we think is happening is that really, being locked down and having more time, more sense of your own, possibly, mortality, and thinking that you will go out there and get the thing you have always wanted. And it very much looks like last summer and thatis much looks like last summer and that is exactly what happened. There was a boom. \ufb01nd that is exactly what happened. There was a boom. There was a boom. And which models hold there was a boom. And which | models hold their value most . What we did was we plotted all of the sellthrough rates and auctions which is a really good example. We track dealers and we track online sales platforms. Auctions are a great example because you canjudge it. So we saw a correlation between every single decade of the newer you got the better the newer you got the better the sellthrough rate of those cars. So the more modern classics, The 80s And 90s<\/a> classics, The 80s And 90s<\/a> classics are doing superbly well. Things like the portion 928, the renault clio williams, these did close to 50 increases in value. These did close to 5096 increases in value. ,. , increases in value. You mention models from increases in value. You mention models from the increases in value. You mention models from the 1980s increases in value. You mention models from the 1980s and increases in value. You mention models from the 1980s and in l increases in value. You mention i models from the 1980s and in my mind that is not a classic car. You think of something extremely old like a world war ii vehicle or Something Like<\/a> that, wouldnt you, normally . Absolutely. And they are still doing well. There was a phenomenal stale back in september when we saw records smashed a prewar cars. But for people of my age, in their 40s, where we have a little more time, maybe covid has not been too bad on them and maybe they are looking back to the cars that either their cool friend had all the successful friend at work had. These are aspirational cars. They are not aspirational cars. They are not a poster car like a testarossa but the interesting thing is we ensure 1. 5 million classic cars Around The World<\/a>. Most of the people getting quotes now are aged about 50 and under. This is increasing every year. And is increasing every year. And in terms is increasing every year. And in terms of is increasing every year. And in terms of the is increasing every year. And in terms of the other in terms of the other industries, this fuels or it drives, pardon the pun is, storage of the cars, somewhere to park them safely and securely. That must be, also a new business in the making as well. It well. It is a big business. There was well. It is a big business. There was a well. It is a big business. There was a recent well. It is a big business. | there was a recent report well. It is a big business. There was a recent report that said that 34,000 people are employed directly in the uk Classic Car Industry<\/a> in the uk and it is worth \u00a37. 2 billion a year. That is not to be sniffed out. There is all sorts of things. There is logistics and the one area that was hit harder more than anything else was events. Even our flagship, the festival of the unexceptional, we had to cancel that and we have had to move much more online. That and we have had to move much more online. Thank you for bein on much more online. Thank you for being on the much more online. Thank you for being on the programme. Much more online. Thank you for being on the programme. Lets l being on the programme. Lets show you the Financial Markets<\/a> now. It has been a theme in this programme today, talking to the wolf of wall street earlier about what has been going on in some of the frenzied activity with the price of silver being the latest to surge upwards because of that. So markets in general are much more positive today and you can see gains across the board. There was a similar picture yesterday in asia. And if you look at what happened overnight on wall street you will see it as a very similar story there as well. So nervous about the impact of this new Investor Movement<\/a> coming from small investors or retail investors, however you wish to describe them, nerves about markets in general about the impact have dissipated so there is a more positive feel in general about Financial Markets<\/a> but also as well there is optimism about economic Stimulus Beard<\/a> in the United States<\/a> are other countries, the impact that will have on the Global Economy<\/a> and help it will bring but also the continued roll out of vaccinations. If you look at our website you can see that in the us countries more and more individuals are being vaccinated against covid 19. That is how markets have been trading. You are now well and truly up to date. Thank you for your company and we hope you have a really good day. We will see you soon. Hello there. Heavy snow is on the way today. The met office have issued an Amber Weather Warning<\/a> for this across parts of northern england. The snow is going to be more than heavy enough to cause Transport Disruption<\/a>, particularly over the Cross Pennine<\/a> routes, we may well have some power cuts as well. Its one of these situations where rain will turn to snow as it engages colder air. Weve got some wintry showers as well running through the central belt, so icy conditions here to start the day on tuesday. The initial concern the snow is across some of these areas of northern england, 3 8 cm, but over the hills, 10 15. I think sheffield could be one of the places that gets hit pretty hard with this. Notice the snow isntjust limited to the pennines. Across into cumbria, Into Southern Areas<\/a> of scotland, well also see snowfall developing through the day, so were more likely see some disruption in some of these areas, as well. Now, funnily enough, away from this band of snow, weve got some sunshine and cold air in scotland. Cold and frosty here. To the south, weve got some thundery ran pushing into the south west but look how mild this is across these southern areas. Temperature 12 14 degrees in cardiff and london. You arent going to get any snow with that, but further northwards, thats where the cold airjust continues to loiter. As i say, Transport Disruption<\/a> is more than likely. I suspect the A57 Snake Pass<\/a> will be shut. The m62 could be affected, maybe parts of the m16 in cumbria and the A74m In Southern Scotland<\/a> all areas that could see some issues. Now, we are not done with the snow just there because as we go through the night time, tuesday night and into the early part of wednesday, the snow pushes northwards into scotland. Heavy rain across Southern England<\/a> could bring a risk of some localised flooding. Could see some localised flooding from the rain in north west england, as well. Wednesday, weve got more snow to come in scotland, perhaps the heaviest migrating north of the central belt, causing some Transport Disruption<\/a> here. But its turning milder across northern england, temperatures about 9 degrees in liverpool and hull. Still around double figures, 10 degrees or so in london and cardiff. So quite a mild spell of weather, really, across Southern Parts<\/a> of england, and that means that whats coming next week may well come as something of a rude shock. Thats the latest. Good morning, welcome to breakfast with Louise Minchin<\/a> and dan walker. Our headlines today. Urgent door to door testing for the South African<\/a> variant of coronavirus is beginning in parts of england. Nicola sturgeon prepares to set out an increased Testing Regime<\/a> and stricter Quarantine Rules<\/a> for travellers entering scotland. Us President Joe Biden<\/a> threatens to reinstate sanctions on myanmar after the countrys military seizes power. Buy now, pay later firms could face regulation under new rules announced this morning. Critics say they encourage shoppers to spend more than they can afford, and get into debt. Ill speak to the regulator and to the boss of one of the biggest firms, klarna. Liverpool move to plug a hole in their defence","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia903405.us.archive.org\/11\/items\/BBCNEWS_20210202_053000_World_Business_Report\/BBCNEWS_20210202_053000_World_Business_Report.thumbs\/BBCNEWS_20210202_053000_World_Business_Report_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240716T12:35:10+00:00"}