Transcripts For BBCNEWS World Business Report 20240710

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Hello. Fighting the Coronavirus Pandemic has been a monumental task for all nations, but for those in developing countries, having limited access to vaccines has proved to be disastrous. At a meeting on monday, the World Trade Organization will be discussing a proposal first put forward by India And South africa back in october, to suspend patents on Covid Vaccines for the duration of the pandemic. The aim is to speed up access to affordable medical products for the Prevention And Treatment of covid 19. The debate is over the best way to achieve this, and whether suspending patents is the answer. The us has backed a waiver, but not everyone is convinced. Joining me now is diarmaid mcdonald, Lead Organiser Atjust treatment. Who opposes this and why . This is reall who opposes this and why . Ti 3 is really interesting, its going to be the first time the World Trade Organization meets with the us switching sides in the debate. Previously, this proposal made first In October Last year by India And South africa, the developing world countries, overioo africa, the developing world countries, over 100 countries signed up in support of this effort to break the big Pharmaceutical Company Monopolies over these really important covid technologies. They were fighting against rich countries, largely countries that have done really well out of the Covid Vaccine supplies so far, the countries with the highest number of people getting vaccinated, the us, europe, japan, australia and others. And what we see today for the first time, the us will be siding with the countries from the developing world who frankly have had an appalling level of access to Covid Vaccines so far. Some countries hardly vaccinating anyone at all so far, wHereas rich countries get over 50 of their populations covered. A really interesting dynamic, wHere we saw the rich countries, well vaccinated, looking at the demands of the poorer countries with no access, and what they are saying is, we need these Vaccine Monopolies to be broken in order to facilitate increased supply from manufacturers Around The World that currently cannot, but could, produce hundreds of millions more doses. More than a year into this pandemic, what is the hope from this meeting . Will it speed access to poorer countries . That is exactly the aim countries . That is exactly the aim we countries . That is exactly the aim. We know it is notjust about aim. We know it is notjust about the aim. We know it is notjust about the Intellectual Property monopolies, it is to do with transferring the technical know how to encourage and enable know how to encourage and enable other countries and manufacturers to produce them, but these manufacturers to produce them, but these Intellectual Property barriers but these Intellectual Property barriers are really a critical Part Barriers are really a critical part In Barriers are really a critical part in what is blocking the increased production. So we hope increased production. So we hope that if this move by the us is hope that if this move by the us is followed by other countries like the European Union countries like the European Union and the uk, and more, we should union and the uk, and more, we should be union and the uk, and more, we should be able to reach, and we need should be able to reach, and we need to should be able to reach, and we need to Reach Rapid Agreement on the need to Reach Rapid Agreement on the nature of this waiver of the Intellectual Property rights, and that would kick start The Process of getting kick start The Process of getting other manufacturers up to speed. We know that from canada to speed. We know that from canada to bangladesh to israel, tHere canada to bangladesh to israel, tHere is canada to bangladesh to israel, tHere is capacity sitting idle, hundreds of millions more doses of vaccines hundreds of millions more doses of vaccines could be being produced and they are not being. Produced and they are not being. In produced and they are not being, in large part because the Pharmaceutical Industry Have The pharmaceutical industry have been fighting to stop that from have been fighting to stop that from happening. We know that bil from happening. We know that big pharmaceuticals are lobbying in the us at a rate of 30 Million per month to stop this from 30 Million per month to stop this from happening, because they this from happening, because they are this from happening, because they are more concerned with they are more concerned with the billions of profits they can make from these vaccines than can make from these vaccines than they can make from these vaccines than they are really about getting the billions of People In Need getting the billions of People In Need of vaccines vaccinated around in need of vaccines vaccinated around the developing world. We hope around the developing world. We hobe this around the developing world. We hope this allows a shift to increase hope this allows a shift to Increase Production and get those Increase Production and get those vaccines out to people as quickly those vaccines out to people as quickly as those vaccines out to people as quickly as possible across the developing world. Developing world. Thank you very much developing world. Thank you very much for developing world. Thank you very much forjoining developing world. Thank you very much forjoining us. Now to the us, and the growing problem of Hate Crime directed at Asian Americans. The number of such reported incidents doubled in the month of march alone. The reasons for this arent clear, although many point the finger at politicians who for months sought to blame china for the covid pandemic. Nationally, asian american Business Leaders are mobilising to raise awareness, while local communities struggle to contain the problem on the streets. Michelle fleury reports from new york. Volunteers patrol the streets of flushing in queens, new york, after a spike in attacks on Asian Americans. For the first time, Wan Chen says she doesnt feel safe. It could be me, it could be my family, my friends im not feeling safe. Wan and her friend Kenny Li set up the public safety patrol, their mission to stop would be attackers from hurting other asians. We see a lot of asian attacks, especially for those elderly. Theyre very afraid to walk along the street. They cannot even protect themselves. Along with the pandemic, Suspicion And Harassment of asians and Asian Americans, the anti China Rhetoric of former President Donald Trump helping to fan the flames of xenophobia and racism. The chinese virus. Kung flu. The nation which unleashed this plague onto the world china. In response to the increased violence, allies have taken to the streets. The us congress passed a bill to address anti asian Hate Crimes. Being of chinese descent has felt different this year, even for those at the very top. My parents not feeling safe going out, my son and i taking a walk and a Truck Driving by and somebody shouting and hollering, go home. Sheila marcelo is Ceo And Founder of care. Com, and among a group of asian Business Leaders launching a 125 Million effort to fight discrimination. I think its both a responsibility and an obligation for us to use our platforms, our talent, our skills, our network, our resources to help the community overall. Despite growing awareness, the number of reported incidents doubled in march alone. Abuse of Asian Americans is sadly not new, but the rise in harassment this year is alarming, notjust for those affected, but for those who cherish the idea that the united states can live up to its promise as a nation of immigrants. For now, we have to do something. We have to stop this. We are american also. Travel restrictions in europe may be easing but theyre still very strict in parts of asia wHere youd have to go on compulsory quarantine for two to three weeks. But some are starting to offer an exemption. Lets bring in mariko oi, whos in our asia business hub. Bring us up to date. Bring us uptodate. Well, as ou bring us uptodate. Well, as you know. Bring us uptodate. Well, as you know, singapore, bring us uptodate. Well, as i you know, singapore, depending on wHere you are coming from, we currently have to quarantine for 21 days. The same with Hong Kong, wHere only people like Crew Members of Aircraft And Government officials are currently exempted from the compulsory quarantine. To make it easierforfinancial it easier for financial executives, we are talking about asset managers, Investment Bankers and so on, if they are fully vaccinated, they can now apply for an exemption, and those given permission are held to very strict Preapproved Itineraries and they will have to self isolate in their accommodation. If you breach the rules tHere was a serious punishment, not only compulsory quarantine but also six months in prison and a fine. This is a way to make sure the city remains attractive as a financial centre, which the government has warned could be undermined because of the slow take up of vaccination so far, around 20 of the Citys Population has received their first shot. Of course tHere are other challenges facing Hong Kong when it comes to its status as a financial, not to mention the controversial national Security Law and how it is starting to affect businessmen likejimmy lai, and the protests, but at least they are trying to make it easier for financial executives to travel to and come back from Hong Kong. Travel to and come back from Hong Kong Sanjeev Gupta owns steelworks and factories across the world, from australia to south carolina, keeping them open when no one else could. When his main Backer Greensill collapsed in march, The Future of 35,000 workers was thrown into doubt. To find out how this Global Empire was built, Bbc Business Presenter dominic oconnell went to Fort William in the north of scotland, wHere Mr Gupta bought an ageing Aluminium Smelter and turned it into a gold mine. In the shadow of ben nevis, this smelter is politically important, one of the few Big Industrial Employers in the scottish highlands. They have been making aluminium Here at Fort William for more than 90 years, powered by waterfrom the loch above. When it was put up the loch above. When it was put up for sale in 2016, the Scottish Government worried it would close, which is wHere Sanjeev Gupta enters the story. We embarked upon a new exciting journey Here, the regeneration and The Future of the highlands. And The Future of the hiahlands. ,. , highlands. Politicians normally welcome sanjeev highlands. Politicians normally welcome Sanjeev Gupta, highlands. Politicians normally welcome Sanjeev Gupta, he. Highlands. Politicians normally| welcome Sanjeev Gupta, he has built a global Business Empire by buying plants that faced closure. The Scottish Government was no different. Watching on was a young apprentice, and he still works Here. ,. Apprentice, and he still works Here ,. , apprentice, and he still works Here. ,. ,. ,. ,. , Here. Quite a Big Dealto Have Him Here Here. Quite a Big Dealto Have Him Here. The Here. Quite a Big Dealto Have Him Here. The centre Here. Quite a Big Dealto Have Him Here. The centre of him Here. The centre of engineering in the town. A massive engineering in the town. A massive employer in the area. I think massive employer in the area. I think n1ost massive employer in the area. I think most people hope the site will progress and be Here for a very will progress and be Here for a very long will progress and be Here for a very long time. Will progress and be Here for a very long time very long time. Saneev gupta has found very long time. Saneev gupta has found a h very long time. Saneev gupta has found a way very long time. Saneev gupta has found a way to very long time. Sanjeev gupta has found a way to make very long time. Sanjeev gupta has found a way to make the i has found a way to make the money flow. He bought the smelter, the dams that power it and a vast estate for m60 million. Since then, he has been hard at Work Raising Money from those assets, he has raised about 520 Million from the Power Stations and he has raised another 360 Million with the help of the Scottish Government, unusually it guaranteed payments on a loan. Greensill capital financed the deal. In all, his companies have raised more than 850 Million from the scottish assets, double what he paid. I assets, double what he paid. I think tHere were questions as to whether the Scottish Government were cautious enough with Tax Payer funds, given Gfg Group were able to raise so much extra cash for themselves. THere is also the question of land. Sanjeev gupta gave an undertaking to undertake part of the vast estate that came with the smelter to community ownership, locals say he hasnt. I ownership, locals say he hasnt. , ownership, locals say he hasnt. ,. ,. , ~ hasnt. I am angry, and like most of hasnt. I am angry, and like most of the hasnt. I am angry, and like most of the local hasnt. I am angry, and like most of the local people. Most of the local people feeling very powerless. We put in a plan for the land which would have supported the community. And now we havent got that, and Sanjeev Gupta has reneged on his promise. The Scottish Government told us it had intervened to save a strategic asset and to protect hundreds ofjobs. Sanjeev gupta has kept the smelter open but he has also been canny enough to capitalise on the valuable assets that came with it, and assets that came with it, and as he has found out all over the world, the most valuable asset of all is political support. India is set to report Gdp Data for the last quarter, and full financial year to March 2021 later today. The figures are expected to show good growth as the period lies before the current covid crisis. China is willing to accept a somewhat stronger yuan, thats the message its Central Bank is giving. The Peoples Bank of china set the Midpoint Rate of its currency at a fresh three year high against the us dollar today, after the currency has pushed higher over the past few weeks. Chinas currency of course is managed, and only allowed to trade 2 above or below the set midpoint. Stay with us on bbc news, still to come. Heading for the Camp Site the rise in staycations has led to a boom for the camping industry, but can it be sustained as hotels starts opening up again . This is bbc news, the latest Headlines Opposition politicians in israel look to be close to agreeing a deal that could end the premiership of benjamin netanyahu. India reports the lowest number of covid cases in weeks. It comes as Police Arrest more than 350 suspected fraudsters for selling fake medical supplies to vulnerable patients. An acute shortage of many Building Materials is leading to renewed fears of rapidly rising inflation. The Office For National Statistics has projected a rise of 7 8 in material prices this year with prices for timber doubling. Joining me now is gervais williams. So is gervais williams. What is this shortage down to . So what is this shortage down to . ~. , so what is this shortage down to . ,. , so what is this shortage down to . ~. ,. , so what is this shortage down to . ,. , ,. To . We have seen a Big Switch Back in economic to . We have seen a Big Switch Back in economic demand, to . We have seen a Big Switchl back in economic demand, with covid a lot of factories closed down and then we have seen a huge revival of demand at a time when stocks are short and thatis time when stocks are short and that is driving up prices across all sorts of areas. What Im Act across all sorts of areas. What impact do across all sorts of areas. What impact do you across all sorts of areas. What impact do you foresee across all sorts of areas. What impact do you foresee this impact do you foresee this having on inflation . Inflation is definitely having on inflation . Inflation is definitely building, having on inflation . Inflation is definitely building, we having on inflation . Inflation l is definitely building, we have figures suggesting Factory Goods are beginning to increase. Shortages of supply also holding things back. We have seen some areas wHere tHere are workforce shortages. Inflation is beginning to come through and we are seeing that change the behaviour of some economies. In particular, china has been deliberately slowing its economic stimulus, one of the reasons the currency has been quite strong in recent months. ~. ,. , been quite strong in recent months. ,. ,. Months. What Knockon Effect will that have months. What Knockon Effect will that have on months. What Knockon Effect will that have on Central Will that have on Central Banks . , banks . The Central Banks themselves banks . The Central Banks themselves will banks . The Central Banks themselves will have banks . The Central Banks themselves will have to l banks . The Central Banks themselves will have to follow quite a narrow path. If they slow too much, the economies could slip back into slow growth or recession. If they accelerate, inflation could take off. Quite a change in the markets, we could see some of the us unicorns being devalued and other companies coming through in a cyclicalform. You hinted at through in a cyclicalform. You hinted at job through in a cyclical form. You hinted atjob shortages in the hospitality industry, very much struggling to fill lots of positions, particularly Waiting Staff and chefs. Why is that happening . Happening . Quite a lot of eole happening . Quite a lot of people have happening . Quite a lot of people have moved happening . Quite a lot of people have moved into l happening . Quite a lot of people have moved into Delivery Jobs in the consumer sector, also its been quite a big period when people have had a lot of price increases, Food Price increases, energy moving to new highs. A lot of people looking for higher wages rather than some of the old jobs which were not quite as well paid. What impact will that have apart from many of us having to wait longer to be served . It really means the whole stability we have had in the economic system is coming to an end and i think tHere will be a much more pushy need to pay increased wages, and that will be quite difficult for businesses, real pressure on some of those. Some of them could go insolvent. Quite a difficult period coming up. Either wages and inflation goes up either wages and inflation goes up or tHere is pressure. Thank you for being with us. How loud is your house . As more and more of us are seeking out quieter appliances for our homes, Zoe Kleinman meets a firm that says tHeres more to noisy gadgets than just decibels. This is the lab wHere the sounds in your home get put through their paces. Here in south london, the Noise Levels of hundreds of appliances are rigorously tested by the firm Quiet Mark, and it awards the quietest models a sticker of approval. Shh when you buy a new household appliance, you might be able to see how loud it is if tHeres a Decibel Rating on the box, but you wont know about any bangs, clanks or beeps until you actually plug it in. The firm Quiet Mark is on a mission to change that. For the first time ever, the firm is now looking at how to include overall Sound Quality in its ratings for consumers like you and me, but its complicated. Something up at 80 decibels, you know, its a no no. You can have something about 60 decibels better. However, its notjust about the decibel level, its the quality. So you can have something thats really irritating at a0 decibels. Hence this new move to look at the quality and the tonalities and the pitch of a product as well. Sound is a very personal sensation. Whats music to your ears might be unbearable to mine. Some autistic people may also process sound differently. For some autistic people, it will mean certain types of noise, certain tones, certain frequencies will be almost painful to them. But actually, for some autistic people, it will mean that tHere are certain types of noise and certain types of sound they really enjoy and actually find themselves seeking. So its a very difficult experience when the world is full of so many different sorts of Sound And Noise on a daily basis. Washing machines and kettles top searches for quiet appliances at john lewis. We have a lot of quiet content on the website, and we see over 10,000 visits to that content every month. And were seeing quiet as the terminology being increasingly searched on the site. But if the sound of your home reached Boiling Point during lockdown, you might also want tojoin this quiet revolution. With hotels closed for successive lockdowns and planes grounded, socially distanced outdoor holidays became the norm last year. Yes, were talking camping. The boom is continuing to this summer. Bookings in the uk this week have surged. The Uk Booking site pitchup. Com has reported a 241 increase in Camping Sites booked forjune, compared with the same month in 2019. But as Flights Resume and international travel reopens, will people swap a night under canvas for a duvet in a hotel again . Joining me now is beatriz santos, Vice President and portuguese representative to the European Federation of campingsite organisations and Holiday Park associations. First of all, tell us what Booking Levels you are seeing and how they compare to previous years . And how they compare to previous years . And how they compare to revious ears . ,. ,. ,. , previous years . Hello and good mornin , previous years . Hello and good morning, thank previous years . Hello and good morning, thank you previous years . Hello and good morning, thank you for previous years . Hello and good morning, thank you for inviting | morning, thank you for inviting us. Well, Holiday Parks and campsite managers are in general very confident and have a positive outlook on The Future. As a matter of fact, reservations are increasing, but this has not been the fact with all of our members. THere remains plenty of availability in most cases. Of course, tHere is also the case that the number of Touring And Camping pitches has been reduced to comply with the rules of social distance. But the sector is fortunate to have perfect outdoors locations and the most safe environment to spend a relaxing holiday. After such a long time of complete lockdown. So we are expecting each day more and more bookings. Dare so we are expecting each day more and more bookings. Are you concerned. More and more bookings. Are you concerned, though, more and more bookings. Are you concerned, though, given more and more bookings. Are you concerned, though, given how concerned, though, given how quickly lockdowns can happen in other countries, you may see a lot of cancellations possibly . Well it depends very much on the travel restrictions. But we are confident and looking forward to the introduction of the eu digital Covid Certificate to make it easy for people to move around. I5 certificate to make it easy for people to move around. Is tHere a fear that people to move around. Is tHere a fear that perhaps people to move around. Is tHere a fear that perhaps once people to move around. Is tHere a fear that perhaps once hotelsl a fear that perhaps once hotels start to reopen, that people would prefer that to camping and again cancel bookings they might have for campsites . Weill. Might have for campsites . Well, camina might have for campsites . Well, camping and might have for campsites . Well, camping and outdoors might have for campsites . Ii camping and outdoors activities are being very much preferred by people because, after such a long time at home, everybody wants fresh air. And, you know, camping and Holiday Parks, really, are very, very different options. Outdoor activities are in the mode nowadays, so we offer relaxing and no stress environments, and people really are feeling to go camping today, its the preference. We have been saying to families that have been preferring it nowadays. Thank ou ve preferring it nowadays. Thank you very much preferring it nowadays. Thank you very much for preferring it nowadays. Thank you very much forjoining preferring it nowadays. Thankj you very much forjoining me. We wish you a successful season. That is it for now. You can reach me on twitter im samanthatvnews. Clear and calm out tHere across most of the uk, and Bank Holiday monday promises to be another warm and sunny day. In fact, the temperatures will probably be a degree or so higher. But it wont be sunny absolutely everywHere. An example Here from sunday on the scottish coast a lot of Haar And Sea fret out to sea, and we could see a Repeat Performance of that on Bank Holiday monday. This is stubborn cloud, quite often it hugs the coast and sticks around through the course of the day. But inland, its going to be sunny. The Morning Temperatures will be typically around 7 10 degrees in towns and cities. A little bit fresher out in the countryside. So the Morning Cloud will eventually burn back to the coast as we go through the morning, and then its clear Blue Skies pretty much nationwide, apart from the aberdeenshire coastline. Could be only 1a degrees, wHereas inland we are talking in the low to mid 20s. Another beautiful Bank Holiday monday on the way. The week ahead, this is tuesday into wednesday, we start to see low pressure developing to the south, but its still far away. That is unsettled weather heading our way, but still On Tuesday well see a lot of fine weather across the uk. A Weather Front just approaching ireland, could be a bit more cloud in northern ireland. But essentially, Little Change for most of us On Tuesday. In fact, the peak of the warmth will see temperatures hitting around 26 celsius. That low edges ever closer during wednesday, and you can see showers approaching south Western Parts of the uk. Could be some thunderstorms around as well, very difficult to say exactly wHere because they could be hit and miss. But the vast majority of the country again enjoying clear, warm, sunny weather. On wednesday, temperatures easily into the 20s, possibly the mid 20s, and, in scotland, up to around 22 celsius for glasgow and edinburgh. How about beyond wednesday . Looks as though its going to cool off a little bit, but temperatures in some parts of the country will still hover around the 20s, for example in the south. So on the whole, its not looking bad at all. Good morning, welcome to breakfast with rogerjohnson and sally nugent. Our headlines today. The Coronavirus Vaccination Programme steps up a gear in england this week, with the countrys largest Mass Vaccination Centre opening this morning. THere are mass vaccinations in bolton this week too, wHere the army will help out with door to door testing. Expect more busy beaches across britain on Bank Holiday monday, on what could be the hottest day of the year so far. Good morning. But for some of us it is a cloudy start to the day with mist and fog. That should burn back to the North Sea coastline. For the bulk of the uk, dry, warm and sunny

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