Transcripts For BBCNEWS World Business Report 20240711

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What are your Travel Plans . Do you hope to go overseas sometime soon . Lets start with international travel, because the industry has been at a standstill since lockdowns were introduced in many countries. People in england have been told they can start thinking about booking foreign holidays again this summer with the earliest possible Date 17th may. A Traffic Light System has been proposed with green countries safer to visit and red those with the highest risk from covid. The costs of tests before and after travel are seen as a big obstacle to foreign tourism resuming. Of what it makes of the plan. Joining me now is axel hefer, the Chief Executive of trivago. Welcome to the programme. I dont know if you have had a chance to look at the ideas in the uk about traffic like system, what are your thoughts . It is a complicated situation, honestly, because the uk is further ahead in the programme compared to continental europe. So the structure will help but the key thing that is holding Back Travel is the lack of certainty that you can return safely without additional hurdles and i am not sure whether the system will actually solve that issue. It is a big problem because last summer we had situations where people were on a holiday then learned while they were on holiday that they would have Return And Quarantine or there would be new rules in place. What are your thoughts on the testing that travellers will have to do in the cost of that in the uk for a Pcr Test . It is estimated to be about £120 per person. That will put people off from travelling, wont it . On the other hand i do not see 0n the other hand i do not see an alternative to testing. You still have a different situation in different countrieS Plus you also do have different variants that are spreading in different countries. So it is the obligation of politicians to control the situation at Home And Testing is, from alex perspective, the least invasive method of doing so. Do you see in terms of bookings from zhivago at the moment . It is different by country. Israel with the for pro Breast Programme is now a strong market of ours. The uk has seen an increase in Travel And Booking activity in the last couple of weeks however, as you said, the international troops are still held back because there is no clarity as to whether you can go and how easy it will be to return. I do think we will need more stability, particularly on the continent, predictability on the continent to see a return to a previouS Pattern and level. Ii to a previouS Pattern and level. , to a previouS Pattern and level. ,. , level. If travellers choose to not no level. If travellers choose to not go overseas level. If travellers choose to not go overseas because level. If travellers choose to not go overseas because of| level. If travellers choose to i not go overseas because of the cost of tests and the paperwork and the complications and the uncertainty, do you think we will see many companies this year really struggling . I think of low cost airlines and other Travel Companies that have two years of very difficult circumstances. ,. , circumstances. Everybody has been struggling circumstances. Everybody has been struggling now circumstances. Everybody has been struggling now for circumstances. Everybody has been struggling now for overl circumstances. Everybody has| been struggling now for over a year and it is not only the financial struggle which has been eased by generous Government Support around the globe but also the stress on employees. If you do not have customers to serve for a long time, it is stressful. Plus the difficult individual personal situation. So the sooner there is more Predictability Uncertainty the better for the industry. On the other hand, nobody is really winning who has an interest of returning to quickly and prolonging the current situation for longer than necessary. Current situation for longer than necessary. Thank you for being on the programme. Than necessary. Thank you for being on the programme. We | being on the programme. We shall keep a close eye on how that meeting goes between mps and the Aviation Industry and we will keep you up to date. For now, lets talk about dyson. It haS Plans to create 200 new Research Roles in the uk this year, aS Part of a 3. 8 billion global investment plan. The majority of its workers though are currently in asia. Nina warhurst asked the Companys Founder sirjames dyson why. It doesnt matter. We operate in 84 countries in manufacturing four different countries. We are a global Business And Asia is the fastest growing market in the world by a long way and it is very important that we are there and we have a good presence there. It would be arrogant to think we could design and develop products for asia in britain. We can develop technology but understanding what asians want and what works in the market we have to be there. � ,. , there. But there is a difference there. But there is a difference between l there. But there is a difference between feeling british and being a british business that creates jobs. You are in a unique position to make your entire Supply Chain here in the uk and yet you do not. ~. , ~ , not. We make Consumer Electronics not. We make Consumer Electronics and not. We make Consumer Electronics and those i not. We make consumer| electronics and those are not. We make Consumer Electronics and those are just not made here. But electronics and those are ust not made herei electronics and those are ust not made here. But you could start that not made here. But you could start that. You not made here. But you could start that. You could not made here. But you could start that. You could be start that. You could be pioneering in that way in creating that fertile ground. We used to manufacture here but we found that supplies here suppliers who did not want to expand. So we had to go abroad to find manufacturers who are enterprising wanted to expand. The Brexit Vision for many of you who are optimists was freedom from the shackles of the eu. Was a compromise to the point of being, of pleasing nobody, the deal in The End . I dont think so. We got our freedom and we can make Trade Agreements with other countries outside europe that europe cannot make Trade Agreements with. We can employ people from all around the world. We have 60 different nationalities here on this site and we can now employ them from all over the world. Previously we had to employ people from europe and we could not get the engineers we could not get the engineers we needed. And i think, much more than that it gives us an independence of spirit and that could not be demonstrated than in the development of a vaccine. In the development of a vaccine in the development of a vaccine. Interesting that conversation vaccine. Interesting that conversation there vaccine. Interesting that conversation there with | vaccine. Interesting that i conversation there with sir james dyson. Lets see how the asian markets are faring today. Japan is bucking the trend but elsewhere there are gains across the board. This is related to what happened the night before on Wall Street so lets look at that. A sickly Inflation Numbers came out in the us yesterday and they showed that actually, prices are not rising wildly in the us and that is not likely influence or change the path of the Central Bank at the moment. The S P 500 settled with a record high close. Johnson Johnson Shares were down 1. 3 on the news of the vaccine being paused. The boss of toshiba, nobuaki kurumatani, has stepped down as Chief Executive of the firm, after controversy over a 20 Billion Buyout Bid from his former employer, Cvc Capital partners. Some investors had raised concerns about the Takeover Offer being too small. Joining me now from singapore is sharanjit leyl. This is a big news, isnt it, the boss stepping down. What is going on . The the boss stepping down. What is auoin on . ,. , the boss stepping down. What is uaoinon . , going on . The news has sent shares of going on . The news has sent shares of toshiba going on . The news has sent shares of toshiba soaring going on . The news has sent shares of toshiba soaring in l shares of toshiba soaring in tokyo, one of the few shares that were higher today as you just showed us. The broader market is falling there. All of this in hopes that there will now be a Bidding War amongst Private Equity giants and other companies bidding for toshiba. The company recently had a News Briefing on the changes in management attempting to reassure investors. The chairman will now become ceo and even in this briefing, Mr Kurumatani was credited to leading toshiba to recovery. He has come under much fire over a controversial 20 Billion dollars from cbc who was his former employer in that bed was considered far too small by toshibas large Activist Shareholder Base amid much concern from the shareholders that Mr Kurumatani may have been shortselling toshiba at mates rates to his former employers. Now of course there is much interest from other parties to bid for toshiba, Private Equity Giants Kkr who the ft says is considering an offer. Brookfield Asset Management is also potentially exploring an offer according to another report from bloomberg. Those companies have not commented, however. In this briefing the just concluded, Toshiba Management has said that the Cbc Officer Offer was unsolicited, that it lacked substance and requires cautious consideration. Bear in mind that any acquisition of toshiba from any of these foreign firms would need japanese Government Approval as toshiba is one of the few japanese manufacturers of nuclear power reactors and defence equipment. 50 of nuclear power reactors and defence equipment. Defence equipment. So much there to progress. Defence equipment. So much there to progress. Thank defence equipment. So much there to progress. Thank you | there to progress. Thank you for those details. Coinbase begins trading on the nasdaq today. The firm is an exchange for Currencies'>Crypto Currencies and is expected to be valued at 49 billion. It is hoping to attract investors who want to put money into the newly emerging Cryptocurrency Sector without being exposed to the volatility of the Currencies themselves. Joining me now is nigel green, chief Executive And Founder of the devere group. Welcome to the programme. So how important is this Listing Today when it comes to Currencies'>Crypto Currencies and how we perceive them . It Currencies and how we perceive them . ,. , Currencies and how we perceive them . ,. ,. , them . It is massive, really because them . It is massive, really because it them . It is massive, really because it adds them . It is massive, really because it adds credibility. | them . It is massive, really. Because it adds credibility. If you have a company that is listed, people have more faith in the company. So point bases going for an in the company. So point bases going foran ipo in the company. So point bases going for an ipo on the nasdaq and that adds to the credibility and it is rising in the crypto and digital currency industry. The crypto and digital currency indust. ,. ,. , the crypto and digital currency indust. ,. , industry. Explained to us how coinbase operates industry. Explained to us how coinbase operates in industry. Explained to us how coinbase operates in terms. Industry. Explained to us how| coinbase operates in terms of its relationship with companies Like Bitcoin and other Currencies'>Crypto Currencies. Like bitcoin and other Currencies'>Crypto Currencies. Bitcoin is the one that is famous Currencies. Bitcoin is the one that is famous and Currencies. Bitcoin is the one that is famous and on Currencies. Bitcoin is the one l that is famous and on coinbase you can trade many different Currencies, 87 of the revenue that they make is based on bitcoin. So you are right, coinbase is dependent on the coin to some extent at the moment. So far in an exchange people can invest and speculate on bitcoin and other Currencies'>Crypto Currencies and this has obviously been very successful, particularly in america was 16 of americans or Leone Crypto Currencies. Of americans or Leone Crypto Currencies Currencies. And talk through what might Currencies. And talk through what might happen Currencies. And talk through what might happen next Currencies. And talk through what might happen next in l Currencies. And talk through what might happen next in terms of regulation because it has been a wild ride and some people have been seriously burned and some made a lot of money. Burned and some made a lot of mone. ~ , y money. Absolutely. Regulation is the big one. Money. Absolutely. Regulation is the big one. Governments, l is the big one. Governments, is bit coin a competitor to the dollar . So if you look atj powell, the fed Leader Chairman said he felt it was more like gold, more of a commodity and it is regulated by the fcc as a commodity. But if people were to invest in bitcoin rather than dollars, then that causes a problem for the us government. They have to protect the us dollar so will they regulate . Is bitcoin used by people who have made money illegally . Those things are a mix in the pie and we watched with interest to see what the regulators do. But you would expect more regulation in the future which would add to the volatility. Taste future which would add to the volatili. ~. ~ future which would add to the volatili. ~. , ~. , volatility. We will talk about that again. Volatility. We will talk about that again. I volatility. We will talk about that again, i am volatility. We will talk about that again, i am sure. Volatility. We will talk about| that again, i am sure. Thank you forjoining us on the stay with us on bbc news, still to come a bit of Fun Or Gambling . We take a look at the lucrative Loot Boxes industry, where gamerS Purchase a box of unknowns. Pol pot, one of the centurys greatest mass murderers, has reported to have died of natural causes. He and the Khmer Rouge Movement He Led were responsible for the deaths of an estimated 1. 7 million cambodians. There have been violent protests in indonesia, where playboy has gone on sale for the first time. Traditionalist muslim leaders have expressed disgust. The magazines offices have been attacked and its Editorial Staff have gone into hiding. It was clear that paulas only contest was with the clock. And as for her sporting legacy, paula radcliffes competitors will be chasing her new world best time for years to come. Shouting. Quite quietly but quicker and quicker, she seemed tojust slide away under the surface and disappear. This is bbc world news, the latest headlines us and european authoritieS Pause the rollout of the Johnson Johnson jab its now the latest Covid Vaccine linked to blood clots. A major Uk Trial into mixing Covid Vaccines is being expanded. The first quarter Earnings Season begins in Earnest Today with reports expected from goldman sachs, jpmorgan and wells fargo. Investors will be keeping a close eye on the figures from the financial powerhouses, which will give an indication of how damaging the pandemic has been so far. Marc 0stwald is Chief Economist at adm isis. Nice to see you. What will the news from the bank tell us . I think the whole story with the 01 think the whole story with the Q1 Earnings and also q2 is of huge Base Effects and obviously the earnings last year were very bad for Q1 And Q2 and the back earnings, the two things that people focus on is how much of the Central Bank assisted trading divisions, how profitable has that been . Secondly, how much are they able to basically unwind some of the money they have set aside for Consumer And Business loans losses, which should actually give quite a big boost. The overall expectation for the Banking Sector earnings to be up a whopping 75. 6 this is the worry, isnt it, not just for the banks supporting today but for banks worldwide who have been giving out loans. More and more loans to businesses, mainly and the worry about these businesses not being able to pay them back or getting into financial difficulty. Or getting into financial difficulty or getting into financial difficul. ,. ,. ,. , difficulty. Yes, it is a Maor Concern but i difficulty. Yes, it is a Maor Concern but to i difficulty. Yes, it is a Maor Concern but to be i difficulty. Yes, it is a Maor Concern but to be on it, h difficulty. Yes, it is a major| concern but to be on it, the provisions they have made have actually been quite high so at the moment is working on the right direction but i think the real key here is when we start to see some of the withdrawal for the support, above all for employment, that this is going to be much more of a factor and also we have seen a lot of simplification, companies been kept alive seen a lot of zombie banks, those being kept alive and i dont think that will be a factor of Q1 And Q2 but as against based on the second half of the year, it will be far more significant. Just quickly, your thoughts on the us Inflation Numbers that came out yesterday. It showS Prices have gone up, but what im reading iS People are not that worried but there was conversation in markets months ago about the worry of inflation, your thoughts . I think inflation, yourthoughts . I think yesterdays numbers were not particularly worrying but the big test comes in the second quarter, with the april may numbers and i still think the jewellery is out on this but the risk is skewed to the upside jury is out on this. Skewed to the upside, given the recovery. Skewed to the upside, given the recove. ,. , ~. , recovery. Good to talk to you toda. Georgejames is Chief Executive of be hookd digital. The firm generateS Publicity on Social Media for its celebrity clients. And when he founded the company at the age of 23 and he had a more experienced businesS Partner who was the link to the celebs working with them. When that businesS Partner left, george was concerned clients would too but making a virtue of his Youth And Inexperience and apparently that did the trick. My my businesS Partner left me and it was a single swim situation. I was young, full of ideas, understood Social Media and my businesS Partner was kind of out there winning clients her experience and convinced us to work with her and stop i was thinking whether we should just close it down and go back to a normaljob at the thought of a being such an uphill struggle. After a conversation with my dad who said to me that i should be more individual and how you can convince people to stay with you and in a big company they are used to staying with a big agency and playing it safe. By being small and not being huge and by being and not being huge and by being a bit irresponsible, and taking some risks, that is what people want and thats where we found our edge. Many Parents Battle with their children over the time spent on online games, and the money spent within them. Believe me, i know, i have three boys the latest craze is � Loot Boxes�. Players can purchase The Boxes, to get hold of the latest virtual weapons for a game. But you only find out whats in The Box once youve paid your money. Its estimated that gamers will spend up to 50 Billion a year on Loot Boxes and its fuelling fears that its acclimatising children to gambling. Joining me now is ghislaine bombusa, whos the head of digital internet matters. What are your thoughts on these Loot Boxes. I hadnt heard of them until today. Them untiltoday. From our persnective. Them untiltoday. From our perspective, we them untiltoday. From our perspective, we speak them untiltoday. From our perspective, we speak to i perspective, we speak to parents and they have said they are quite concerned about thiS Particular Loot Boxes and how these could be leading children into potentially gambling behaviours, so as an organisation we are really wanting to make sure parents are aware of these things and as you mentioned, you havejust come across these annual children are probably playing games all the time so really it is for us to make sure parents are aware what they are unable to have conversations with children about what these potential dangers are when they are playing the games. What are playing the games. What are the real worries are playing the games. What are the real worries is are playing the games. What are the real worries is kids the real worries is Kids Addiction to getting all these weapons or skins or whatever the it is they are buying, usually with their parentS Peoples money to the Loot Boxes make that worse all how is a difference with the Loot Boxes, in your opinion. In terms of boxes, in your opinion. In terms of the Loot Boxes, boxes, in your opinion. I� i terms of the Loot Boxes, they often dont Add Anything to the game, they are a way to spice up game, they are a way to spice up the game and as you mentioned, children dont know whats inside, it is the hope of getting a Level Up or a virtual skin you are looking for third not something that enhances the Gaming Experience in such a way will progress further. These really are a way for the game people to create Micro Transactions where they are able to find the games further. They are not adding anything to the game. In a way, from what we have seen and from parents telling us they are concerned, there needs to be more to be done as far as whether these are really needed in the game to really make the game better, which in our opinion, not necessarily so. What is the Gaming Industry Thing about this when it is been charged with possibly causing kids to become gamblers in the future . I causing kids to become gamblers in the future . In the future . I think the rramin in the future . I think the Gaming Industry in the future . I think the Gaming Industry is in the future . I think the l Gaming Industry is looking in the future . I think the Gaming Industry is looking into it and again introducing different regulations and saying that if they are playing this sort of game, it is within this sort of game, it is within this sort of games but there needs to be done particularly around the persuasive design because they are created for you to be on there for a long period of time so this is another way for you to sustain another way for you to sustain an Increase Screen time and gameplay and we need to push for laws and children at the heart and designers when they are creating the safety features to think more strategically about children rather than these Micro Transactions and being able to find the games further. We are out of time. Find the games further. We are out of time, sadly, find the games further. We are out of time, sadly, thank find the games further. We are out of time, sadly, thank you | out of time, sadly, thank you for sharing your thoughts and advice on this. Gaming firms argue that parents can set up restrictions on the fines or gaming consoles to prevent children from spending money, so where does the Responsibility Lie . Parent . Gaming companies . Anyway. It is a constant battle in my home, that is for sure sometimes a costly one thank you for your time today, you are up to date in using business and if you would like to dig deeper, there is so much in Detail Online and you can take a look at the website. See you soon. Hello. April so far has been colder and drier than average, and the weather for now is in no mood to change that pattern. So, plenty of dry weather continuing for the next few days, but of course the thing which has got most of us talking is just how chilly it feels. Theres more of that to come as well and more of those frosty nights. It is high pressure. Whenever you see this, you think, well, its dry. However, as we saw on tuesday, there were showers around. And there will still be a few in the day ahead, though most will stay dry after what is another widespread frost to start the day, another hard frost in parts of scotland down to 6, for example, in the north east. One or two Mist And Fog patches. They will clear and were left with quite bit of sunshine. Just some areas of patchy cloud around and, you canjust see it here, one or two showers developing, more especially towards the western side of the uk. Now, the winds for the most part are light, but look at the arrows here pushing in towards that North Sea Coast of scotland and down the eastern side of england, coming in from the sea, which is quite chilly at this time of year, and thats why these temperatures are just showing seven, eight or nine celsius. So with the onset of that north easterly breeze, Eastern Areas will actually be colder, whereas were 13 in Cardiff And Plymouth and 13 probably towards Western Parts of Northern Ireland. Any showers that have popped up will fade away as we get on into the evening. We have another largely clear and cold night to come into thursday morning, and again one or two Mist And Fog patches around. And there will be another widespread frost, although were not expecting it to be quite as hard as its been over recent nights. Hows thursday shaping up . Most dry with sunny spells, but on that north easterly breeze, we will bring in a few showers to parts of eastern england, into the southeast, perhaps the East Midlands as well. If anything, that breeze will be a touch fresher, too. For the most part, though, elsewhere, the winds are light. There is warmth in the sunshine if you get some of that. You certainly feel it as temperatures, away from the chilly east, will be close to the average for the time of year. Big picture going friday into the weekend, there are weather fronts trying to move in from the atlantic towards Northern Ireland and scotland, initially perhaps just bringing a bit more cloud. But deeper on into the weekend, more especially on sunday, there is a chance that, here, we could see a bit of rain, whereas elsewhere it stays dry. Good Morning Welcome to breakfast with Dan Walker and louise minchin. 0ur Headlines Today the government says the uks Vaccination Programme remains on track afterJohnson Johnson suspends a planned rollout of its Covid Vaccine in the us and europe. The pressure builds on David Cameron as mpS Prepare to vote on a parliamentary inquiry into the former prime ministers lobbying. A Charity Shop boom. They report record sales as shoppers head back to the high streets to hunt out a bargain. Another step back to normality as hot Air Balloon flights resume. So, come fly with us

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