Transcripts For BBCNEWS World Business Report 20240710

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Lets start with apple, which has launched the latest update to its Operating System with a controversial feature that will stop companies tracking you around the internet. Its new App Tracking Transparency Feature means users will have to agree to companies tracking their data. Platforms like facebook, which rely on personalized data to sell targeted ads, have criticised the move, saying apple is acting in self interest. Our Technology Reporter James Clayton has more from san francisco. I think by far the biggest story in terms of these apple is this app tracking transparency. We have been shopping online and then go on to another app and suddenly the thing you were searching for pp5 thing you were searching for pops up. That is the thing that apple is focusing on. From now on, will be asked if you want the company to track you online. That will really hurt facebook because it relies on targeted adverts, knowing lots of information about you and selling it to companies. It will hurt its profits. Facebook is not like it and things apple is not like it and things apple is doing it out of Self Entrance self interest. Suddenly, the bad blood that exist between the two companies will only continue. Joining me now is sam gilbert, data expert and author of good data. How big is the change by apple . It has been discussed for weeks. I it has been discussed for weeks. ~ ,. ,. ,. , it has been discussed for weeks. ~ ,. , weeks. I think it is a good day for users weeks. I think it is a good day for users of weeks. I think it is a good day for users of iphones weeks. I think it is a good day for users of iphones and weeks. I think it is a good day| for users of iphones and ipads who have a lot of value they place on privacy but not such a good day for advertisers and potentially for some negative consequences for the economy. From apples perspective, what is it gaining because if it is going to annoy the likes of facebook and others, in a sense claims of apple, how will it work . I claims of apple, how will it work . ,. ,. , ~ work . I have no doubt tim kirk and many work . I have no doubt tim kirk and many other work . I have no doubt tim kirk and many other people work . I have no doubt tim kirk and many other people at work . I have no doubt tim kirk| and many other people at apple believe protecting the privacy of their users. It is also a strategy. It is effectively in competition with facebook and other companies. Not in the least because politicians are placing an interest in anti monopoly effects. Apple might be trying to pre empt some of that legislation, that maybe regulated will look more favourably on it. Regulated will look more favourably on it. Regulated will look more favourabl on it. ~ , favourably on it. When it comes to a s, favourably on it. When it comes to apps. The favourably on it. When it comes to apps, the rules, favourably on it. When it comes to apps, the rules, the to apps, the rules, the charges, we saw apple falling out with fortnight and facebook saying apple has too much control. ~ ,. , control. Where will this lead . It highlights control. Where will this lead . It highlights the control. Where will this lead . It highlights the fact control. Where will this lead . It highlights the fact that it highlights the fact that apple and google effectively have a duopoly when it comes to the market so in practical terms there are no choices but to distribute their app through those stores and that means developers and advertisers may describe this use by apple as a misuse of its power and say this kind of decision should not be taken by Companies Like apple and google are like. For us as users. Apple and google are like. For us as users, it apple and google are like. For us as users, it is apple and google are like. For us as users, it is a better Environment Stop will be get less pounding when we are on facebook and other apps Going Forward . ,. , , forward . The benefit to users is more mixed. Forward . The benefit to users is more mixed. If forward . The benefit to users is more mixed. If you forward . The benefit to users is more mixed. If you care is more mixed. If you care about privacy it is valuable. Others who value low prices and convenience it may not be as good. Users of iphone and ipads may start to see the Advertising Space they experience around the internet may no longer be field with advertisements for products that map well into their interests and could be lowest common denominator is like betting and dating apps. Thank you for your thoughts. You for your thoughts. Interesting discussion. And so much more detail on that story on our website. Lets get some of the days other news uk Holiday Makers are increasingly putting off their Summer Holidays and booking autumn breaks instead, due to uncertainty over international travel. Thomas cook said autumn bookings were up 50 , while luxury Tour Operator kuoni said customers were holding out for october half term. Greece and the caribbean are among the most popular destinations. French Energy Giant Total has suspended operations at a site exploring a major gas field in northern mozambique weeks after islamist militants attacked a nearby town. Dozens of people were killed in the march raid on the town of palma. Total� s 20 billion plant is the largest Foreign Investment in africa. A pair of shoes designed and worn by the musician kanye west have sold for 1. 8 million at auction the highest amount ever paid for trainers. The nike air yeezyi prototypes beat the previous record, which was held by a pair of Nike Airjordan is that sold for 615,000 last year. I cannot wait to put those trainers on later. I am just joking, obviously. Tesla has announced a Record Profit of 438 million for the First Quarter, boosted by higher production, lower taxes and its investment in bitcoin. Earlier this month, tesla said it had delivered 185,000 vehicles globally in the First Quarter, after Strong Demand from china. The Auto Industry has faced difficulties because of a Production Slowdown as a result of the global Chip Shortage, but elon musk� s Company Appears to have bucked the trend. Jim holder is editorial director of what car and autocar. Good to see you again. How has tesla avoided this Chip Shortage . Tesla avoided this Chip Shortaae . ,. , ~ , shortage . They move quickly in developing shortage . They move quickly in developing their shortage . They move quickly in developing their supplies shortage . They move quickly in developing their supplies and l developing their supplies and Research Behind that work in supplies in order to build up their own supplies. It is an incredible statement to make. Vast parts of the Auto Industry frozen because of this shortage of chiefs but tesla has worked early and fast and claims it has found a way around the problem. In has found a way around the problem problem. In terms of the outlook problem. In terms of the outlook for problem. In terms of the outlook for tesla, problem. In terms of the outlook for tesla, record j outlook for tesla, Record Profit. We are quite used to hearing it is the non profit auto making company. What is the outlook Going Forward . It is incredibly positive. Sales up is incredibly positive. Sales up over 50 at a time when virtually every other carmaker struggling to hold its year on year position. Its a huge turnaround for tesla and it shows it can be a Sustainable Company to invest in at the moment. Building factories and cars to keep going. There is now some momentum behind this company, notjust in terms of the headlines but also in the stability of its future and it really is starting to look like tesla has a very strong future indeed. ,. ,. , indeed. Recently there was a terrible fatal indeed. Recently there was a Terrible Fatal Crash indeed. Recently there was a Terrible Fatal Crash in indeed. Recently there was a Terrible Fatal Crash in texas, | Terrible Fatal Crash in texas, involving a tesla car. To what extent will that or any other negative events have an impact on tesla . 50 negative events have an impact on tesla . ,. , negative events have an impact on tesla . On tesla . So far tesla appears to be and on tesla . So far tesla appears to be and the on tesla . So far tesla appears to be and the owners, on tesla . So far tesla appears to be and the owners, they on tesla . So far tesla appears i to be and the owners, they have always pushed boundaries and it has led them to trouble but they seemed to have a bounce back each time. You never quite know what is coming back, you never know if that terrible moment where it is falling apart is coming. This investigation is looking at whether they are overstating their can do but so far tesla seems to have come through every crisis and has just kept growing. As we have seen from these results, that momentum is still there. Later today lotus will unveil plans for what it says will be its final petrol powered design. The firms cars are part of britains automotive history a small Sports Car Company which built a formidable reputation. Lotus majority owned these days by the chinese giant geely, is preparing to expand globally. The firms managing director matt windle has been telling theo leggett just how challenging the past year has been. It has been a very difficult year. We were adamant that we would protect the staff and put a bubble around manufacturing and managed to fully pay everybody and so we are seeing the return on that as well. For us, our business, we produce 7 more cars and have come out stronger with the systems and processes in place with Working From Home and multifaceted working. From home and multifaceted workinu. , from home and multifaceted workinu. , from home and multifaceted workinu. , , working. The car industry is auoin working. The car industry is going through working. The car industry is going through a working. The car industry is going through a revolution, j going through a revolution, technological, electrification, automation. Lotus is based on simplicity and engineering, how do you adapt a simple business for this revolutionary future . We are a Small Business but we are also based on innovation. Have been planning for our future and wrote a plan back in 2018 and when we wrote the plan that, there was no way you could it not electrification. It was coming through legislation and Customer Requirement and we are really excited about that. You requirement and we are really excited about that. Excited about that. You have already produced excited about that. You have already produced an excited about that. You have already produced an electric| already produced an electric car, a hybrid car limited numbers. Your next model is going to be petrol powered. Why did you take that decision . The car is electric did you take that decision . Tue car is electric and did you take that decision . Tte car is electric and it did you take that decision . Tte car is electric and it gave us what we wanted to do and it showed a vision of where we go forward but the sports car coming is about where we are now, you could call it analogue cars to the future of digital cars. It is a lot more driver focused but, as i said before, we needed to build the team and experience to move into electrification so this is one last hurrah for the petrol car and then move into the electrification future. Electrification, automation, High Technology all of this costs money, how important is that you have large scale holders backing you . That you have largescale holders backing you . Without geely and holders backing you . Without geely and others holders backing you . Without geely and others we holders backing you . Without geely and others we would i holders backing you . Withoutl geely and others we would not be here. It is huge. We want to move to Global Retail outlets and Global Business and changing the way we deal with our customers as well. It is something we have had to invest in. Facilities, voltage around the power facilities. In. Facilities, voltage around the powerfacilities. It is in. Facilities, voltage around the power facilities. It is and less what we have had to do. We have ust less what we have had to do. We have just received the latest news from india as to how the number of cases are rising today in india. The daily rise has actually retreated from record levels. It has stayed above 300,000 for the six day in a row however it has come down compared to yesterdays hi. Deaths rose by 2771. That is the latest data from the Health Ministry in india. Stay with us on bbc news, still to come the commodities boom drives the Australian Dollar higher, but the surge is causing headaches for the countrys exporters. Nothing, it seemed, was too big to withstand the force of the tornado. The extent of the devastation will lead to renewed calls for government help to build better housing. Internationally, there have already been protests. Sweden says it received no warning of the accident. Indeed, the russians at first denied anything had gone wrong. Only when Radioactivity Levels began to increase outside russia were they forced to admit the accident. For the mujahideen, the mood here is of great celebration. This is the end of a 12 year war for them. They have taken the capital which they have been fighting for for so long. It was 7 oclock in the morning when power began to pass from the minority to the majority, when africa, after 300 years, reclaimed its last white colony. This is bbc world news, the latest Headlines International aid begins to arrive in india as the country struggles to manage a huge spike in coronavirus cases. There have been more than 300,000 daily infections for the last six days. The Us Justice Department launches an enquiry into the police force that shot Breonna Taylor to see their offices behaved unconstitutionally. The Ride Sharing Firm Lyft is selling its Autonomous Driving unit to toyota for 550 million. The deal expands toyotas mission to move beyond Pure Carmaking into other mobility services. For lyft, the deal will reduce its annual expenses by around 100 million dollars. Were nowjoined by Sharanjit Leyl from singapore. It certainly appears to be. It it certainly appears to be. Tt marks the japanese car making giants latest move at a time of growing consolidation in the very capital intensive Self Driving Industry and what this purchase really does, to the right hurling firms more than 300 employees, and a direct presence in Silicon Valley and london. The Lift Field Interest in a number of autonomous carfirms. Its really an extension of toyotas to advance Self Driving Car Technology and for lyft, the deal will allowed become profitable sooner and takes away the burden of developing such a Costly Technology that really has yet to enter the mainstream. Its really expensive to come up with the self driving automation. The sale also comes as demand for the ride hailing is finally rebounding after the pandemic took a big chunk out of revenue. Lyft operates only in North America and unlike its larger rival, it doesnt have businesses like Food Delivery to offset the losses which really helped during the pandemic. The Self Driving Cars have a technology, its not really ready to commercialise broadly or cheaply at, and of course the reality is that its development is expensive and its taking much longer to safely deploy than originally thought. By selling its Autonomous Driving unit, lyft is following uber which did the same thing late last year. Let that art same thing late last year. Let that part of same thing late last year. Let that part of the same thing late last year. Let that part of the world. As australias Economic Recovery Gathers pace, investors are watching its currency closely. The Australian Dollar has seen a robust rise over the past six months, climbing higher than pre pandemic levels. That has led some to worry that if it breaks out of the range its trading in now a very strong Aussie Dollar may mean a weaker recovery at home. In sydney phil mercer explains. Massive Construction Projects have a huge bearing on the Australian Dollar. It is a commodities currency. This means that it value against the us dollarfor example means that it value against the us dollar for example goes up and down to match fluctuations in the price of say i all, which is a key ingredient in steelmaking. Irate which is a key ingredient in steelmaking. Which is a key ingredient in steelmakinu. ~. , steelmaking. We find Commodity Rices steelmaking. We find Commodity Rices of steelmaking. We find Commodity Prices of the steelmaking. We find Commodity Prices of the most steelmaking. We find Commodity Prices of the most important prices of the most important driver of the Australian Dollar and weve seen that the really strong lead fiscal stimulus out of china has had a big bearing on australian Commodity Prices and that is one of the reasons why weve actually seen the dollar appreciate so much. In dollar appreciate so much. In the currency falls, australian goods and services can become cheaper. For buyers overseas, this helps domestic local exporters revenue from them flowing into different parts of the australian economy. But as the australian economy. But as the currency appreciates, when it increases in value, those exports can become more expensive for consumers in other countries. In turn, foreign made clothes, cars and Electronics Sold here in australia can come down in price. Australia can come down in rice. , ,. , price. Different people win, and different price. Different people win, and different people price. Different people win, and different people lose i price. Different people win, i and different people lose with currency movements. It determines a spin is located. Take an example in which the Australian Dollar becomes more valuable against our currencies. Then what happens, you have foreign goods which are cheaper for australians. But whats good for consumers here isnt always beneficial for the broader australian economy. So is the Australian Dollar appreciates in value as it becomes more muscular, we are often tempted to buy more items ship in from overseas rather than those produced at home. ~ ,. , � ,. , home. When youre trying to get our home. When youre trying to get your economy home. When youre trying to get your economy back home. When youre trying to get your economy back on home. When youre trying to get your economy back on track, your economy back on track, youre trying to get business is picking up, get them employing people again. It can slow that process down so in the near term you might be able to spend more on imports but it doesnt necessarily mean that it will lead to long Term Economic growth. In it will lead to longTerm Economic growth. In australia, a massive economic growth. In australia, a Massive Covid economic growth. In australia, a massive Covid Vaccination a massive Covid Vaccination programme is under way. Consumers and businesses are hoping the worst of the pandemic is over. That optimism is reflect within the strength of the Australian Dollar. Its the start of the banking results week in the uk and europes largest bank, hsbc is the first to report its earnings for the First Quarter of 2021. Its profits after tax are up 82 to 4. 6 billion boosted by a solid performance in asia. Hsbc said � the Economic Outlook has improved, although uncertainties remain. Joining me now is frances coppola, whos a banking analyst. Good morning to you, thank you for being on the programme. Youve been looking at the numbers, what is your take . When we are talking about percentages like this enormous increase in profits and revenues, these are exceptional times. They are comparing it with the First Quarter of 2020 which was of course at a time when the main market in asia was badly disrupted by covid so its not terribly surprising the review i have gone up compared with that. But we should bear in mind that revenue is still down on where they were before that. And the outlook as they say in the report is very uncertain. A couple of things thatjust report is very uncertain. A couple of things that just show how hard it is for banks. The first thing that struck me was the Net Interest Margin which is really very low and still falling slightly which, this is how banks make their money. Its the spread between the amount costs them to borrow and the amount they charge the lending. And its really very narrow at the moment and that is outside their control. Its caused by low Interest Rates around the world, which is the Central Bank Response to the covid out they can its not going to improve anytime soon. On the bright side, they are saying the outlook is better and because of that, theyve been able to reduce the amount of money they set aside to cover expected credit losses. They are saying thats because they are now expecting not to lose as much money from bad debts as a result from covid as they thought. There are some good things and concerning things in these results. Wide that so i would say markets aria. Nothing too extravagant in either direction. As its presence in hong kong and its real focus on that part of the world a big benefit to hsbc in this these times . T world a big benefit to hsbc in this these times . This these times . I think it is at the moment. This these times . I think it is at the moment. There this these times . I think it is at the moment. There are i at the moment. There are political risks. They are doing this uncomfortable biggie in the middle thing with hong kong and the us and the political situation. But we have to remember their roots are in hong kong and china. That is where they started, hsbc was hong kong and shanghai bank. Tt moved its headquarters to the uk in 1992 when it bought midland bank. It has this east west axis. And its Something Like three quarters of its revenue coming from asia and that is not going to change. If anything, and that is not going to change. Ifanything, it and that is not going to change. If anything, it will improve. Change. If anything, it will improve change. If anything, it will imrove. ,. , ~. , improve. Good to talk to you. Thank you improve. Good to talk to you. Thank you for improve. Good to talk to you. Thank you for your improve. Good to talk to you. Thank you for your analysis. | thank you for your analysis. You are now up to date on all things business and news. More details on line, will see you soon. Hello again. This month has been a really dry month, particularly across parts of england and wales, where weve just recorded five millimetres of rainfall so far. And thats left the ground completely dried out, desiccated and cracked in places. But there are changes on the way. On monday, we started to see low pressure move in across scotland, and that brought some thicker cloud and finally some rain. And looking at the rainfall amounts that were expecting through the rest of this week, well get around 5 10 millimetres of rain. In The Grand Scheme of things, thats not a huge amount, but its easily doubling what weve seen for many so far this month. So the rain, im sure, is going to be pretty welcome for the farmers and growers, although you probably want even more than were going to get. So, theres our area of low pressure moving its way in, and as we go through the next few hours, the rain will continue to push its way southwards, always quite showery in nature, across Northern Ireland, northern parts of england as well. But with the cloudy skies across these northern areas, it doesnt get that cold. In the south, still cold enough, though, for some its here where well have the clear skies to start the day, and for some it will be a nice sunrise as well. Through the day, our centre of low pressure is going to start to wobble back inland and dive in a diagonal South Westwards towards wales, and that will bring outbreaks of rain across northern england, wales, into the midlands. Still some showers around for Northern Ireland and scotland as well, but it is an area of low pressure where the amount of rain that we see from place to place is going to vary quite a lot. Now, on into wednesday, our low pressure continues its journey southwards, so again well see some rain moving into wales, parts of the midlands, southern areas of england this time with a few showers following. But on wednesday, well also start to get a really quite brisk and cold east to north easterly wind blowing in off the chilly north sea, and that means around some of our eastern coasts, temperatures may well struggle to get into double figures in places. Even further west, its not going to be exactly warm for the time of year. Now, looking at the weather charts as we end the week, our area of low pressure moves back out into europe, but in its place, the winds tend to become pretty light. Weve got cold air back with us, so again were likely to see some night time frosts. There will be loads of showers around, particularly on friday. And because theres not going to be that much wind around, therell be nothing really to blow those showers along, so some of them could end up being pretty slow moving in nature. And its not going to be a particularly warm end to the week, but at least theres going to be a bit of rain. Good morning, welcome to breakfast with dan walker and louise minchin. Our headlines today. Pressure on the prime minister, as borisjohnson faces more questions over how the refurbishment of his flat was paid for. The first shipment of uk medical aid arrives in india, as the country struggles with record covid cases. The hero of the Thames Tributes are paid to the 20 year old man who died afterjumping into the river to rescue a woman. I was just trying to see if i could see him. He just kept screaming my name. All i could hear was my name. It wasjust echoing. A bitter battle for your data. A row ignites between apple and facebook, after the latest

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