Transcripts For BBCNEWS World Business Report 20240710

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Its an adjective. Its even a verb. Its hard to think Of a company with a quicker rise to fame than zoom. A major beneficiary Of lives in lockdown, the zoom boom, it seems, is set to continue. Revenues up almost three fold from a year ago. Sales forecasts upgraded. The Video Conferencing Company is expecting remote working and online learning to become the new normal. Are they right . Lets get the view Of amanda cooper, editor at business insider. Once greater numbers Of people are given the option to work and play Face To face, Wont Zoom Taper Off . This is on the amount Of the analysts are looking at this company, can it continue to grow at the same unprecedented Levels that weve seen . And judging from what zoom have said in their own earnings release, they are still very upbeat on the outlook. As you say, they are betting on leveraging that kind Of hybrid working model it seems that most workers say they want to go to along with some online school as well. Interesting that they decided to market so heavily via Search Engines and to both businesses and consumers. How important were those strategies . I think as you say, over the course Of the pandemic, businesses had to be nimble in order to keep working, keep producing, keep people in their jobs, so as you see yourself, the Word Zoom has become synonymous with social events, school, work meeting, anything you can think Of. But school, work meeting, anything you can think Of. You can think Of. But still has zoom fatigue, you can think Of. But still has zoom fatigue, going you can think Of. But still has zoom fatigue, going from you can think Of. But still has zoom fatigue, going from a l you can think Of. But still has i zoom fatigue, going from a back to back zooms all day, there are already negative connotations to Video Conferencing and using the platform in particular. Do you think the company is capable Of turning that narrowing around . There were security issues around zoom calls, there is zoom fatigue, but ultimately it is something that kept people connected to their families and friends, kept people working. I will live if i never take part in another zoom quiz night, but as we move to that more Hybrid Model Of working, it will become central to how companies Do Business. Become central to how companies Do Business Do Business. What do you make Of zooms Do Business. What do you make Of zooms future . Do business. What do you make Of zooms future . Where Do Business. What do you make Of zooms future . Where can i Do Business. What do you make Of zooms future . Where can it | Of zooms future . Where can it go from here . It has fantastic brand recognition, but could it be a victim Of its own success and essentially end up as a bit Of a one Trick Pony . It and essentially end up as a bit Of a one Trick Pony . Of a one Trick Pony . It has a lot Of competition Of a one Trick Pony . It has a lot Of competition from Of a one Trick Pony . It has a lot Of competition from the | lot Of competition from the likes Of microsOft teams and others, it is certainly true that as the economy opens up, as people return to school and work more regularly, it will have to work harder to continue to grow. But in their own words, they are looking for sort Of a bit Of a slowdown in that growth, but not an actual business decline. Last night we saw shares end up 2 in after hours trading, which shows that the markets at least have given result is a reasonably warm reception. Amanda cooper, thank you very much for your time today. Thank ou. Russia is once again implicated in a us Cyber Attack. Jbs usa which is a subsidiary Of the worlds largest Meat Supplier reported disruptions to its It Systems in North America and australia. The brazilian company has now told the White House that the attack most likely came from a criminal organisation in russia. The attack has blocked about a quarter Of all Beef Production in the us. Our North America Business Correspondent Michelle fleury has the latest. With russians accused Of being behind the latest Cyber Attack in the united states, it is easy to imagine that things could get a little frosty when President Biden and russian President Biden and russian president vladimir Putin Meet in geneva in a few weeks time. The fbi is now investigating how a major Meat Supplier got held for ransom, and if at all sounds familiar, you are right. Three weeks ago, a similar incident shut down a us oil pipeline, and who can forget the large scale russian Sewer Attack that came to light at The End Of last year . The Deputy Press Secretary said the White House was engaging directly with the russian government on this matter. It is also assessing the potential impact on the nations meat supply. Workers at somejbs facilities here in the united states had shifts cancelled via facebook after the troubling cyber Attack Affected Servers that were used to power its North American and australian It Systems. This is the latest high Ofile-ransom-attack'>PrOfile Ransom Attack against a private company, disrupting a critical Supply Chain, but Security Experts warn it will not be the last. Inflation in the eurozone rose sharply last month to 2 just above The European central banks target. Why . Prices were pushed higher by a strong rise in energy prices, Hiking Inflation to its highest level since october 2018. It comes as covid restrictions across europe were scaled back, boosting economic activity. And here in the uk the British Retail Consortium has warned that consumers could face more expensive Shopping Bills in the autumn as costs climb and brexit Red Tape increases. So, inflation is the word on everyones lips, but why is it such a scare story, and should it be . Joining me now is Anna Macdonald, Fund Manager at amati global investors. Three decades after the authorities in advanced economies managed to suppress the beast, they remain confident they are in control. Anna, are they in control . They are talking the game that they are in control, and they are playing, i think, a game Of wait and see to see how entrenched these Price Rises are going to be, whether some Of It Isjust are going to be, whether some Of it is just caused by spikes in demand after the extraordinary year that we have had. Ithink. You mentioned the European Inflation rate, backin the European Inflation rate, back in 2010, 2011, there were also spikes after coming out Of the financial crisis, and the Ecb Raised Rates then, and i think that that was pretty much seenin think that that was pretty much seen in retrospect as a bit Of an error. So i think that our central banks have learned from that, and Around The World are waiting to see what actually happens in terms Of the Supply Chain, bottlenecks being used and things are turning to a bit more normality. Lode and things are turning to a bit more normality. And things are turning to a bit more normality. We have always assumed that more normality. We have always assumed that the more normality. We have always assumed that the structural assumed that the structural Supply Side enhancements like tech, globalisation, for example, are so great that we cannot overwhelm them with demand, but nobody saw this level Of spending and being backed by Government Addict ats in terms Of boosting demand, so does that story really still play out . Does that story really still la out . ,. Play out . You are quite right. This is extraordinary, play out . You are quite right. This is extraordinary, that this is extraordinary, that actually, some people are saying the us consumer in particular is in an even stronger place than they had been before the pandemic, so we have got consumers sitting with a huge amount Of cash, and as weve already said, weve got Supply Chain squeezes. So you have this extraordinary mismatch. How long it will take to resolve, im not sure, but there is also, you know, at some point, the money these consumers have built up, they will want to spend it, then eventually, they will be going back to work, they will be vaccinated, things should ease Off. When you look at Commodity Prices, actually future Commodity Prices are not showing a real maintaining Of these elevated Levels. These elevated Levels. Now, man Of these elevated Levels. Now, many Of the these elevated Levels. Now, many Of the central these elevated Levels. Now, many Of the central Bankers J these elevated Levels. Now, many Of the central bankers who are currently at the top Of the food chain, they have never really had to deal with inflation, not the inflation that we saw in the 1970s, the global Inflation Rate was 10 then. Latin america in the 19905, then. Latin america in the 1990s, for example. If we are at a Turning Point here, and evenif at a Turning Point here, and even if the numbers are lower, how easy is inflation going to be to control . Be to control . Youre completely be to control . Youre completely right. Be to control . Youre completely right. We| be to control . Youre completely right. We have be to control . Youre completely right. We have seen very high inflation in the 19705, very high inflation in the 1970s, which was a real problem because it combined with lower Levels Of growth, and yes, we are not really used to it. Until the pandemic, central banks Around The World were trying to deal with what they thought was the japanese problem Of actually not being able to get any inflation at all. So what they are doing now is targeting average inflation, so they are trying to give themselves some breathing space. And i think that they will start looking at that, and then, if it becomes endemic, then, if it becomes endemic, then we will probably see Interest Rates rise, but they are going to be taking quite a relaxed attitude to Inflation Numbers over the next few months. Numbers over the next few months numbers over the next few months. , , months. 0k. Really interesting, thanks very months. 0k. Really interesting, thanks very much, months. 0k. Really interesting, thanks very much, anna thanks very much, Anna Macdonald in edinburgh. Thank ou. When china closed its factories at the start Of 2020 because Of covid 19, it could have ruined natalie quail� s business. Natalie is the founder Of smiletime, which makes teeth whitening kits made in china. However, she says, she always suspected she might have problems relying on supplies from so far away, so she drew up Contingency Plans when launching The Business. These helped her cope with the emergency. Im so happy that we came up with a Plan B on Day One Of The Business, because we seriously needed it. The biggest blow to The Business was the major disruption to our international Supply Chain. 0urfactories Supply Chain. 0ur Factories were Supply Chain. 0urfactories were shut in, we were not able to actually get product into customers hands. That can effectively kill a business. At the start Of The Business, we created impact Of plan a back up plan effectively looking at local suppliers in the uk and eu that could help get us product in the event we ever had an issue with our asian Supply Chain. So on Day One, as soon as we saw there would be disruption, we contacted the local suppliers that we knew could plug a short Term Supply Disruption 93p short Term Supply Disruption gap. 0bviously short Term Supply Disruption gap. Obviously a pandemic was not planned for, but there can be disruptions globally due to war, due to weather conditions, and this plan would help us in any Of those scenarios, for sure. Lets turn our attention to australia. The economy is in rare company only five other countries can boast an economy that s larger now than before the pandemic. But the Headline Numbers on Gdp Mask some serious uncertainties. As the most recentjob numbers out last week showed, most Of the private sector is still employing fewer people than it was prior to the pandemic. But despite this, we are still seeing bizarre jumps in retail sales, and unusually large falls in unemployment and underemployment. And a potential risk to the outlook is the sluggish rollout Of a covid vaccine. This has been magnified by a Renewed Outbreak Of the virus in melbourne, prompting a lockdown that has now been extended for another week. So what are we to make Of these numbers . Lets cross to Phil Mercer. What do you make Of the numbers . Australias economy as well and truly rebounding from the recession that was induced by covid 19 at last year. As you say, this is an economy now bigger than it was before the pandemic, but there are serious issues that the australian economy has to deal with, has to negotiate into the future, some Of the biggest industries here, tourism and international education, have suffered hugely because Of Australias Decision to ban foreign nationals for over a year to curb the spread Of covid 19, so at the moment, the australian economy is relying on private business investment, and a surge in household spending, mostly or Often in Car Fees and restaurants, and that is because australians cannot easily travel abroad, australian citizens need Government Permission to go overseas, so money is being spent here rather than overseas. Cafes and Restau Ra nts. Overseas. Cafes and restaurants. But as you say, potential problems for the australian economy, this economic recovery could well be destabilised or derailed by further covid 19 outbreaks, as you say, the lockdown in victoria and the city Of melbourne being extended by another week, that will affect Australias Economy, and economists do caution that further outbreaks could further unravel this economic rebound. But at the moment, the numbers look pretty good. In the past year, Australias Economy growing by1. 1 , and very year, Australias Economy growing by 1. 1 , and very few countries can boast Of those sorts Of numbers. Absolutely riuht. Sorts Of numbers. Absolutely right. Thanks sorts Of numbers. Absolutely right. Thanks very sorts Of numbers. Absolutely right. Thanks very much, sorts Of numbers. Absolutely | right. Thanks very much, Phil Mercer In Sydney for us. Let s get some Of the day s other news. The biden administration announced tuesday it was halting Petroleum Development Activity on the alaska national wildlife refuge, reversing a move by former President Trump to allow drilling. The us Interior Department said it was notifying firms Of the freeze, pending a comprehensive environmental review that will determine whether leases should reaffirmed, voided or subject to additional mitigation measures, the agency said in a statement. Healthcare Giantjohnson And Johnson will have to pay more than 2 Billion dollars in damages to women who alleged that its Talcum Powder contained asbestos, and caused them to develop ovarian cancer. Thats after the Us Supreme Court declined to hear its appeal over the case. And Oil Prices have hit a two year high. Thats after members Of the Oil Production nations, also known as opec, agreed to stick to a plan to gradually lift production, even as Summer Fuel Demand heats up. Stay with us on bbc news, still to come The Square Burger Returns us Restaurant Chain wendys takes another stab at the Uk Market after a 20 year absence. This is bbc world news. The latest headlines President Biden visits tulsa to commemorate one Of the worst incidents Of racial violence in us history. President Lukashenkos Crackdown on dissent in belarus prompts an increase in acts Of protest and defiance. The second chinese vaccine has now been approved for Emergency Use by the world health organization. This means sinovac� S Jab can now be part Of the covax programme, which aims to ensure distribution Of the vaccines to poorer countries. Lets bring in Mariko 0i in our asia business hub. Japan is hosting a virtual Covax Meeting Today . Yes, they are hoping to raise at least another 1. 6 Billion to help those poorer nations get access to covid vaccines come on top Of 6 Billion already been raised over the last few months. That is because around 80 Of all distributed vaccines so far have gone to richer countries, and according to one economist i have spoken to, this can have a serious impact on the economic recovery Of low income countries. We economic recovery Of low income countries. ~. , economic recovery Of low income countries countries. We are all still in dancer countries. We are all still in danger in countries. We are all still in danger in terms countries. We are all still in danger in terms Of countries. We are all still in danger in terms Of health, | countries. We are all still in L Danger in terms Of health, in Terms Danger in terms Of health, in terms Of danger in terms Of health, in terms Of economic recovery, that terms Of economic recovery, that none terms Of economic recovery, that none Of us is really safe until that none Of us is really safe until the that none Of us is really safe until the pandemic is curbed everywhere, so long as the pandemic continues, we will start pandemic continues, we will start to pandemic continues, we will start to see more and more variants start to see more and more variants Of concern emerge. We will see variants Of concern emerge. We will see at variants Of concern emerge. We will see at risk the vaccine induced will see at risk the vaccine induced immunity that can be pierced induced immunity that can be pierced by induced immunity that can be pierced by these new types Of variants. Pierced by these new types Of variants, but we will also not see a variants, but we will also not see a global economic recovery because see a global economic recovery because we will not have Open Trade because we will not have Open Trade and because we will not have Open Trade and open markets until we et trade and open markets until we get the trade and open markets until we get the pandemic under control everywhere. Get the pandemic under control everywhere everywhere. And Of course, it is notjust everywhere. And Of course, it is notjust about everywhere. And Of course, it is notjust about raising is notjust about raising money, because there is simply not enough vaccines at the moment. So experts have been saying that rich countries need to start sharing the vaccines sooner, they are also trying to add manufacturing capacities, and Of course theres that discussion over a Patents Waiver for covid 19 vaccines Of the wto. A revised draft was submitted by india, south africa, and dozens Of other developing countries last week, but despite the backing Of washington, there is still opposition from the eu and switzerland. Mondays discussion fails to achieve a breakthrough, but at this good news that the second chinese vaccine has now been approved by The Who. Vaccine has now been approved by The Who vaccine has now been approved b thewho. , ~ y. By The Who. Thank you very much for our by The Who. Thank you very much for your time. By The Who. Thank you very much for your time, mariko by The Who. Thank you very much for your time, Mariko Oi by The Who. Thank you very much for your time, Mariko Oi in foryourtime, Mariko Oi in singapore. The square burger is back after leaving the uk more than 20 years ago, the Hamburger Chain Wendy S is returning to the uk. It ll open its first restaurant in reading today and has plans to build its presence throughout europe. Wendy s . One Of america stop its presence throughout europe. To open around 400 outlets in the uk, creating thousands Of jobs. They will be a mixture Of Company Owned Restaurants and Compa Ny owned restaurants and franchises. Joining me now is Paul Hilder, senior Vice President and Managing Director for canada and the uk at wendys. Why would you lodge a Burger Joint when the biggest trends in food at the moment are for meat free diets . Meat free diets . First and foremost. Meat free diets . First and foremost, we meat free diets . First and foremost, we are meat free diets . First and foremost, we are really i meat free diets . First and foremost, we are really excited to be opening today in reading. We did extensive research and we were looking to return to the uk, and first we identified that the british public really deserves a better burger from burger chains, and we are here to do that with our fresh high quality burgers at affordable prices, the already mentioned our iconic square burgers, which are made with Fresh British beef. So this little Wendy S, our hamburgers are core. We also listened to our customers, and we will be adding meat free options, we have a veggie stack, which again is square, veggie pipes and our avocado veggie salad, so we are staying true to our values and our core as a Hamburger Chain, but we are addressing those needs and listen to our customers. Since our Menu Items are all customisable and made to order, really customers can build any, and add any item to a sandwich, salad, ora and add any item to a sandwich, salad, or a potato. Ok. And add any item to a sandwich, salad, or a potato. Salad, or a potato. Ok, paul. Now, it salad, or a potato. Ok, paul. Now, it is salad, or a potato. Ok, paul. Now. It is a salad, or a potato. Ok, paul. Now, it is a crowded salad, or a potato. Ok, paul. Now, it is a crowded and now, it is a crowded and competitive field, and there are a number Of burgerjoints are a number Of burgerjoints are in trouble, byron, Taylor Gourmet Burger kitchen, had a lot Of those problems predate the pandemic, with sales declining. People are ordering theirfood online. They might not ever go to a Wendy S and ca square burger. How do combat that . , � , that . Youre right, consumers are accessing that . Youre right, consumers are accessing brands are accessing brands differently, we will be on Delivery Spaces and also our digital channels, so we are using all the channels we have found very successful Around The World here in the uk. You have been the world here in the uk. You have been away the world here in the uk. You have been away for the world here in the uk. You have been away for 20 the world here in the uk. You have been away for 20 years. Lots Of people have come and gone over that time. Whats changed that makes the uk a good market once more . Firstly, it is about Wendy S. We are a stronger Brand Today than we were, which i think is evident by our recent announcement that we have moved into the number two space as a Hamburger Brand in the us, dethroning burger king, and i think that strong base and our long Term Commitment to the uk, with a model that works, is setting us up for success. Yes, the economy has been challenged recently, but we believe that is a robust opportunity and a gap in the marketplace for a brand poll, lets be honest, this is terrible timing, isnt it . It is, but i think it has also challenged brands, every brand, including us, to make sure they are sharpening their pencils and focusing on what the consumer wants, great Quality Hamburgers served in a great environment, with good hospitality, so i think the basics do not change in our industry. Basics do not change in our industry industry. Ok. Very briefly, what do industry. Ok. Very briefly, what do you industry. Ok. Very briefly, what do you say industry. Ok. Very briefly, what do you say to industry. Ok. Very briefly, what do you say to people | industry. Ok. Very briefly, i what do you say to people to industry. Ok. Very briefly, what do you say to people to be able to access the Reading Store Today . What are you hoping for from your customers, more spend . I hoping for from your customers, more spend . More spend . I think firstly they will more spend . I think firstly they will recognise more spend . I think firstly they will recognise and more spend . I think firstly l they will recognise and enjoy they will recognise and enjoy the quality and the service they get. We are all about the quality, so i think they come for a good time, feel they had great quality products, made with freshly prepared food. Given a much, Paul Hilder in reading for us. Lets see how the asian markets are faring today. Us equities a little lower, we are seeing the market is are starting to digest and look at what is going on with inflation and those concerns about rising inflation we were talking about earlier on the programme. So thatis earlier on the programme. So that is interesting what is going on at the moment. Oil prices rising, and this is how the us markets fared. This is kind Of what is going on. Crude being bolstered by that decision from opec. Plenty more coming later with your headlines. I will see very soon. Hello again. Tuesday was the hottest day Of the year so far. A title that will last until, well, later today when temperatures are expected to get a little higher still. Most Of us had skies like this, then, plenty Of sunshine around and it was warm widely. 26. 1 celsius was the highest temperature that was in cardiff where we have the heat as far north as Northern Scotland at kinloss at 25 celsius. Boulmer, just 11 celsius. Here we had low clouds and fog. There is another batch waiting to move across the North Sea over the next few hours. Meanwhile, over in france, we have some thunderstorms beginning to spread their way northwards. Now, those thunderstorms coming from a cloud called altocumulus castellanus. You quite Often dont get much rain from it, what falls can be big blobs, but you can get pretty dazzling Lightning Displays and lots Of thunder. You might see some Of that in the Channel Islands in the next few hours, before those downpours spread into southwest england, where we could get some heavier rain mixed in. Now, as that kind Of air comes up from france, Itll Start to feel much more humid across southern areas. Eastern coastal areas Of both England And Scotland starting the day sunny, but late morning, i think we probably will see some areas Of low clouds and Fog Move back in, particularly from about north yorkshire northwards, so it will be a Lot Cooler for these areas. Temperatures, 27 celsius, wouldnt be surprised if we saw 28, just depends how much sunshine we get. On into thursdays forecast, well, the low pressure bringing the showers is still with us. This Cold Front� s important to the east Of that, we could see some showers break out just about anywhere. Now, there certainly will be some showers going across Northern England and into scotland. But across england, well, this is where the Cold Front is, so we could get storms breaking out just about any time as we go through thursday, some Of them could be really heavy as well. Temperatures, still pretty high, 2a 25 celsius across eastern areas Of england, but otherwise, those temperatures coming back down closer to average. Now, thursday night, even into friday, we could still see some storms affecting parts Of eastern england, but eventually, The Whole Of the uk will get into that fresher air thats come Off the atlantic. So temperatures will be coming back closer to average. Still, though, with some spells Of sunshine around, its not going to feel cold at all. Its going to be pleasant in the sunshine. Temperatures about 19 in cardiff, 23 in london, 18 in glasgow. Thats your weather. Good morning, welcome to breakfast with Dan Walker and sally nugent. Our headlines today. More than £1 billion for catch up tuition for pupils in england, but headteachers say its a fraction Of whats needed. Did we actually give the best for these children . Well, we did the best that we could do with the means that we had. But the means we had werent enough. Bodycams for Ambulance Staff in england, after attacks by the public rise by almost a third in five years. Good morning. More packages being ordered. Not enough people to pull the points being ordered. We

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