Transcripts For BBCNEWS World Business Report 20240710

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More then on that Trade Deal. So, after a lot of back and forth, the bbc understands that a Trade Deal has been done between the uk and australia. The broad terms of the deal have been agreed, with a formal announcement expected later today. Uk prime Minister Borisjohnson and australian prime Minister Scott Morrison sealed the pact over dinner in downing street last night, marking the first Trade Deal to be negotiated from scratch since the uk left the european union. Not everyone is happy, though, some british farmers warn that australian producers could flood the Uk Market with cheap meat products. However, Robert Mackenzie a Beef Farmer from New South Wales says that is not their plan. For us to move product into the uk, its the pinnacle of success. It is where our grassroots came from, and we would be very proud to provide high Quality Product to the consumers in the uk. Look, in the last 12 months we have been very focused on the Uk Market and we are actually planning our move to move into the uk, hopefully in the very near future. Into high end restaurants for consumers that want a point of difference and want a point of difference and want a point of difference and want to look for something unique, something different from australia. Australian beef goes a lot around the world. For instance, we send product into china, we personally send product into the Middle East and throughout Is A. A lot of beef goes into the us. So, we dont have enough beef to flood the market in the uk. We believe our Product Willjust replace some of the product that was coming in from the eu. So, i dont believe that any farmer in the uk has anything to worry about. Well, do farmers in the uk agree with that . Is thIs A Win Win . Mark Humphery Jennner Is Associate professor of finance at the university of New South Wales. Its hard to know for sure until we have the details. Whats your perspective . Tanks are having me. The free Trade Agreement seems to be positive, broadly speaking, both for australia and the united kingdom. Both, to some extent had been trying to seek a deal here. In terms of It Being Win Win, it appears it will be 0. 2 of gdp. That may not sound like much, but with Gdp Growth around 2 3 a year, that adds up around 2 3 a year, that adds up and Is A significant increase to the economy of the uk, but also in australia. That said, there are some concerns about agricultural standards, about agricultural standards, about Whether Australia will flood product into the uk. However, there Is A limit to how easy it is to do that. In part, because australia has many export markets, china being the major export market, but also the cost of getting beef to the uk. Its not as simple as just showing up with beef on day one, rather, there are costs, and it also appears any agreement will be phased in over time. Any agreement will be phased in overtime. So any agreement will be phased in over time. So the Tariff Reductions would come in over the course of about 15 years, which appears to be what is being proposed, and that compares favourably with some other Agreements Australia has made. In broad terms, it seems australian farmers will gain from thIs And consumers will have access to some products that have had tariffs on them, and australian goods may supplant some eu goods being replaced by australian imports. Both countries seem to gain a decent advantage from thIs Agreement. Decent advantage from thIs Agreement decent advantage from thIs Aareement. , , agreement. Consumers in the Uk Miaht agreement. Consumers in the uk might have agreement. Consumers in the uk might have concern agreement. Consumers in the uk might have concern about might have concern about australian products, because without reading a lot of detail into it, we do not know whether the Food Safety standards are an issue or not. And Uk Farmers say we have to adhere to much stricter safety standards, which mean our products are more expensive, but also better for the consumer . For the consumer . That is certainly for the consumer . That is certainly a for the consumer . That is certainly a valid for the consumer . That is certainly a valid concern, | for the consumer . That is i certainly a valid concern, and something that was raised throughout the discussions. Were looking at thIs Across quite a few goods. One of the main ones being beef. In australia, it is more acceptable to have hormones applied to cattle in order to accelerate growth. Now, the academic evidence, at least that has been relied on in australia, seems to suggest thatIs Australia, seems to suggest that is safe for consumers. In the uk, however, they are taking a much more cautious approach are those hormones are not used. Similarly with pesticides. In australia, the burden of evidence required to banish pesticide appears to be slightly heavier than in the uk and a pesticide. Appears to be heavier than in the uk. Sirkos agricultural goods, there are differences between there are differences between the two markets. The detail remains to be seen exactly as to what will emerge here. There is probably a likelihood that any goods coming into the uk, they are likely to have at least reasonably comply with Uk Standards in order for them to get into the united kingdom. I would expect there to be provisions brought in to protect Uk Farmers, either by restricting the amount of non compliant australian goods brought in, or through other provisions brought into question any blow to Uk Farmers. Question any blow to Uk Farmers question any blow to Uk Farmers. ~. ,. , farmers. Mark, we appreciate ou farmers. Mark, we appreciate you expiaining farmers. Mark, we appreciate you explaining where farmers. Mark, we appreciate you explaining where were i farmers. Mark, we appreciate you explaining where were at as far as this deal is concerned and the detail we know about it, when we get to know about it, when we get to know more later today, we will let you know here on bbc. Thank ou. Most Coronavirus Rules will remain in place in england for another four weeks after the so called Freedom Day onjune the 21st. This Is A devastating blow for the pub industry, with the british Beer And Pub association warning the four Week Delay will cost the industry 400 Million or 560 million. The association says all restrictions must be lifted on July The 19th and they would like further financial support to boost the struggling industry. Steve alton is Chief Executive of british institute of innkeeping. Steve, its good to speak to you again. What are they saying about this . About this . Good morning, sall. About this . Good morning, sally for about this . Good morning, sally. For our about this . Good morning, sally. For our members about this . Good morning, | sally. For our members that have run predominantly single pubs along the Length And Breadth of the uk, this is incredibly devastating news. This marks 15 months of significant Trade Disruption and for many, closure. Any resilience this fantastic innovative business has had, is now gone. Personal savings, many have used their Pension Funds as well to keep going, still, three quarters of them have racked up significant debts and the real issue is were hitting a perfect storm. We should be trading fully, taking advantage of the summer, all of those opportunities. With the euros are now they are limited in their capacity in the vast majority are loss making. Staff costs, a lot of restrictions to manage, and in a few short weeks they will be paying rent, Business Rates coming back online as well. Is a real issue now, and as you said, at the start of this, we have just got to get these pubs open fully, and at the moment right now members are frustrated. We are seriously concerned we will lose yet more fantastic, viable businesses through no fault of their own. I am assuming with Uk Hospitality then calling on the government to extend, you know, the holidays and deals they have done for example on Rent And Reduction in Business Rates, etc, you need thatjust to stay viable . Rates, etc, you need that ust to stay viable . I rates, etc, you need that ust to stay viable . Very much so. We check to stay viable . Very much so. We check with to stay viable . Very much so. We check with members we check with members continually and they have made very clear these rates are some of the largest bills. It comes back online injuly for back online in july for england. Back online injuly for england. They have had a full holiday until April 2022 in other areas. We are looking for the government to extend that support and match the devolved nations. We are looking at Vat Support of 5 . It only works if it is fully electronically and we have taken advantage of the. And we have also asked for some specific Duty Costs on beer, soda, to support local brewers. Fantastic local beer Is An integral part of what makes them so special. So, to have that as well. And we have bounced back, deferred vat, we really need a gap now, breathing space, to get businesses trading again to build resilience so they are able to pay thIs And pay that back. Many members have said it will take several years now to recover their businesses. They really do need that short Term Support from the government. We will watch that very closely. Steve alton, Chief Executive officer of the british institute of innkeeping. Another hard Hit Sector is the wedding industry. It employs some 400,000 people here in the uk. While some restrictions will be lifted, the 30 person maximum, for example, venues will have to adhere to social distancing and hosts will have to do a risk assessment. Table service will be required with a maximum of six people per table and no indoor Dance Floors are allowed. So whats the reaction from the industry . Sarah haywood is with the Uk Weddings taskforce. I understand you were talking to ministers until late, yesterday, about these changes tell us about your discussions . Well, we do want to acknowledge that we have been acknowledged in the slight easing of restrictions for us, and like you say, an increase from 30 is very welcome, it was also very necessary. We are in very hard restrictions. The issue is we still have many restrictions around weddings, which means it is not very palatable to have anyone who has a wedding coming up anyone who has a wedding coming up in the next month to six weeks, and that Is About 12,500 couples every week. And many of them, indeed, most of them, belong to the 300,000 who postponed their weddings already because they did not want a wedding during restrictions. And there is still a huge disparity, a huge anomaly, between us and other sectors that have already opened. And you only have to travel on a Community Train to see quite how did you list it is. There are more people on a Community Train than an average wedding. We have seen sports, the fans of football, The Business that went on at the cricket last week, the queues that you have in amusement parks, etc. All these things that put people in close proximity, and now we find a wedding, the kind of things you would expect to happen, cannot happen. And that is going to have a Knock On Effect to confidence over the Summer And Consumer confidence is really at an all time low. The sector has already lost £16. 5 billion since the beginning of the pandemic. The pandemic struck at the end of the low season, that means we are in the eight consecutive quarter of low or closed season trading, and it is still going to cost us £150 million a week to get through the next few weeks. I million a week to get through the next few weeks. Million a week to get through the next few weeks. I am sure, sarah, the next few weeks. I am sure, sarah. Sorry the next few weeks. I am sure, sarah. Sorry to the next few weeks. I am sure, sarah, sorry to interrupt the next few weeks. I am sure, sarah, sorry to interrupt you. L sarah, sorry to interrupt you. We absolutely hear what you are saying, and everybody is understanding how hard it is for the industry, but also not at least, the couples that have had to postpone and even lose money in the process. When it comes to the science, do you recognise the need for restrictions to remain in place because of the Delta Variant and the transmissibility of It Being that much higher, and the fact that we havent yet got enough people vaccinated . Iliruieiiii enough people vaccinated . Well if this given. Enough people vaccinated . Well if this given, as enough people vaccinated . Well if this given, as i enough people vaccinated . Ii if this given, as i said, those huge disparities among other things that we are allowed to do in our everyday life, take the g7 this weekend. I mean, the g7 this weekend. I mean, the government took a decision to work in a covert security venue, just like the kind of venues that has a wedding. The elderly, i hesitate to call the Queen Or President vulnerable, were given a choice to attend these events. And we can produce an event as secure as the one the government posted over the weekend. That the one the government posted over the weekend. Over the weekend. That is what the are over the weekend. That is what they are saying. Over the weekend. That is what they are saying, though, they are saying, though, weddings can still go ahead, we are not limiting the numbers, but we are not saying it until later injuly, we cant say you can do whatever you like . But the are can do whatever you like . Emit they are limiting numbers to 50 capacity at maximum. Right, in a venue. 50 capacity at maximum. Right, in a venue, 50 50 capacity at maximum. Right, in a venue, 50 of 50 capacity at maximum. Right, in a venue, 50 of the 50 capacity at maximum. Right, in a venue, 50 of the capacity i in a venue, 50 of the capacity of a venue. Thats right. Sarah, i am sorry were out of time. Thank you for being on the programme, and we will keep a close eye, as i said to our previous guest, on things pan out. Lets get some of the days other news. The united states and europe are closing in on a deal to end a Trade Dispute which has been going on for 17 years over airbus and boeing. Both sides are on the cusp of agreeing a deal on subsidies and tarrifs for their respective aircraft makers that is likely to include a multi Year Plan on subsidy limits. The breakthrough is set to be finalised today in brussels at us president joe bidens first eu us summit meeting. Travel insurance policies that offer complete cover for covid related disruption are barely available, according to Consumer Group which . It analysed 263 different policies and found only two gave travellers all round financial protection. Which has called into question various providers claims that their policies provide covid cover. Stay with us on bbc news. Still to come its been called the biggest revolution in computing ever Quantum Computers. I get some help from Ibm Europes Chairman to explain what it is, and why it will change everything. There was a bomb in the city centre. A Code Word known to be one used by the ira was given. Army bomb experts were examining a Suspect Van when there was a huge explosion. The South African Parliament has destroyed the foundation of apartheid by abolishing the Population Registration Act which, for a0 years, forcibly classified each citizen according to race. Just a day old, and the Royal Baby is tonight sleeping in his cot at home. Early this evening, the new prince was taken by his Mother And Father to their apartments in kensington palace. Germanys parliament, i the bundestag, has voted by a narrow majority to move the seat of government from bonn to berlin. Berliners celebrated into i the night, but the decision was greeted with shock in bonn. The real focus of Attention Today was valentina tereshkova, the worlds first woman cosmonaut. What do you think of the russian woman in space . I think its a wonderful achievement and i think we might be able to persuade the wife it would be a good idea if i could to get her to go up there for a little while. This is bbc world news. The latest Headlines President Putin has responded to president bidens warning about the threat from russia appearing to warn Mr Biden against taking any quick decisions against moscow. The uk and australian prime ministers agree the broad terms of the first post brexit Trade Deal. Afterjust six years in business, gogoro an electric Motorbike Company in taiwan has become one of the most popular modes of transport on the island. The company recently won investment from yadea, one of chinas biggest E Scooter producers, and announced its expansion there and into india. Our taiwan correspondent Cindy Sui asked the founder about the potential hes seeing in asia. Electric motorbike Is A hot topic all around asia, mainly because of all of these rapidly growing cities where thousands of people are living on top of each other know where to charge, no where to charge, no whittier park. Where the traditional plug charging solution just doesnt work. This is where battery and electric motorbikes are going to actually change those landscapes for the future. The wa as landscapes for the future. The way as china landscapes for the future. The way as china and landscapes for the future. The way as china and important market for either scooters, especially the kind that you are trying to sell, swappable battery E Scooters. Are trying to sell, swappable battery escooters. Are trying to sell, swappable battery escooters. Over 50 of all individual battery escooters. Over 50 of all individual Commute Battery escooters. Over 50 of all individual Commute Males i battery escooters. Over 50 of all individual Commute Males is| all individual Commute Males is done on two wheels and a majority of that, two thirds of Thatis Majority of that, two thirds of that is done in china alone. There Is About 300 Million to wheelers in china that runs around all over china every day. About 90 , 85 of them are electric, howeverthose electric, however those electric, however those Electric Vehicles electric, howeverthose Electric Vehicles are using a very traditional kind of legacy batteries that all of us know are not very environmentally friendly. So the government has been pushing a new regulation to convert these less environmentally friendly vehicles to now more environmentally friendly usage of Electric Vehicles through the use of Lithium Batteries. However Lithium Batteries need to be well managed. Charging at Home Or Charging and Parking Lots without any supervision or guidance, it is very dangerous, and that is where our station comes into play. Our ability to charge at these industrial stations and use a Swapping Method to allow customers to swap and go in seconds, providing a very, very convenient and easy to use usability so that you dont have to worry about range. When youve done about 100 kilometres, stop by one of our stations, put the two depleted batteries and, get a fully charged battery out, off you go and adjust settings. Faster than fast charging. Than fast charging. Chinas government than fast charging. Chinas government has than fast charging. Chinas government has made than fast charging. Chinas government has made a l than fast charging. Chinas i government has made a goal than fast charging. Chinas government has made a goal of going Carbon Neutral by 2060, so will both contribute to that goal . I so will both contribute to that coal . So will both contribute to that ioal . ,. , so will both contribute to that coal . ,. , so will both contribute to that ioal . ,. ,. ,y. , goal . I can see one day, we are auoin goal . I can see one day, we are ioini to goal . I can see one day, we are going to make goal . I can see one day, we are going to make a goal . I can see one day, we are going to make a significant going to make a significant impact to the contribution that china is committing to to go Carbon Neutral by 2060. The next technological revolution is likely to be in the field of Quantum Computers which promise to complete some tasks much faster. In classical computers, the unit of information, or bit, can have a value of either one or nought. Its equivalent in a Quantum System the Quantum Bit or qubit can be both at the same time, opening the door for multiple calculations to be performed simultaneously. The most powerful one in europe is being unveiled later today in germany by chancellor Angela Merkel and ibm Chief Executive arvind krishna. So how important is thIs And what could it change in our everyday lives . Joining me now is martin jetter, Chairman Ibm Europe, Middle East africa. Welcome to the programme. For those viewers out there who like me are fairly computer illiterate, just explain, give us more detail on why this Is A Game Changer . Us more detail on why this Is A Game Changer . Good morning, sall. Game changer . Good morning, sally today Game Changer . Good morning, sally. Today is Game Changer . Good morning, sally. Today Is A Game Changer . Good morning, sally. Today Is A historic sally. Today Is A historic moment for europe, because as you said, we unveiled the first and most powerful Quantum Computer here in europe in germany. The difference between the traditional computing, which was addressing problems in a deterministic way zeros and ones is that this new Quantum Computer is using Quantum Computer is using quantum physics, Quantum Mechanics and is using the laws of these Quantum Technology to re solve problems we havent been able to tackle before. Just to give you an example, we all enjoy electric cars, however, the distance the car can drive is very much determined by the lifetime of the battery, and in order to have better use of technology, better use of material, you need material science, and those problems can be tackled by Quantum Computer and they can solve these issues with a very, very sophisticated use of algorithms on this technology. And in terms of where these Quantum Computers will be initially, will they be the ones in the background that feeds the computers we are using on a day to Day Basis . How will that work . Using on a daytoDay Basis . How will that work . How will that work . First of all, the traditional how will that work . First of all, the traditional way how will that work . First of all, the traditional way of l all, the traditional way of computing is not disappearing, it will continue. At these particular challenges we are facing, whether it is in healthcare, co2 emission, battery lifetime and so on and so forth, these particular challenges can now be addressed with Quantum Technology, so for an Innovation Perspective live for europe, it Is An incredible step forward. It Is A historic moment because now we open the door to overcome these issues and create economic wealth and and create economic wealth and a far better planet as it was before. � , before. But in the future, they will become before. But in the future, they will become more before. But in the future, they will become more everyday, i will become more everyday, wont they . In terms of people using Quantum Computing as opposed to traditional computing . Is that the idea and therefore everything will be that much faster and the response will be better, is that where we are going . Well, we first of that where we are going . Well, we first of all that where we are going . Well, we first of all going that where we are going . Well, we first of all going into that where we are going . Well, we first of all going into the we first of all going into the direction that businesses, research facilities, will use this, just to give you a few examples. Already more than a year ago, a universityjoined year ago, a university joined the year ago, a universityjoined the Quantum Network of ibm, and just recently, earlier this month, the Uk Government scientific and technology Facilities Council invested more than £200 million in a joint Research Activity between ibm and this institution, spending about £210 million. What about any Security Concerns . Some have been flagging up worries about the potential of what these Quantum Computers can do if in the wrong hands . Computers can do if in the wrong hands . First of all, the ibm wrong hands . First of all, the 3m Quantum wrong hands . First of all, the ibm Quantum System wrong hands . First of all, the ibm Quantum System is wrong hands . First of all, the ibm Quantum System Is A wrong hands . First of all, the | ibm Quantum System Is A very secure Computing Facility and at the beginning when everybody was talking about quantum and the incredible Fast Computing capabilities, there was a threat out there about breaking passwords and so on and so forth, but very early on, ibm were already on the Quantum State in order to overcome and protect potential threats. Great to have you on the programme, Chairman Ibm Europe at least and africa. Thank you and thank you, too, for your company. Europe, Middle East and africa. Hello there. Monday was a day of contrast. Still hot and humid in london. The temperatures were soaring. In fact, by the middle of the afternoon, we reached the highest temperatures recorded so far this year and that was 30 celsius in greater london. Now, it was a different story further north and west because of a weak Weather Front that was spilling in across scotland, into the north of england. Behind it, the Wind Direction changing to a north westerly and that brought with it some fresher air and a marked contrast. Look at sundays highs across northern ireland, 25 degrees, the warmest day of the year here. But by monday, those temperatures were down quite sharply. And it looks as though that fresher feel will continue to be the theme of the weather into tuesday, as well. Starting off with a good deal of dry weather, our weak Weather Front just a band of cloud lingering first thing in the morning but there will be a lot of sunshine coming through in area of low pressure bringing in some rain into Western Fringes of scotland by the middle part of the day and the winds increasing here. So, were looking at around 10 18 degrees as the overall high but futher south and east, 25 is not out of the question. Down a touch, but still thats 77 fahrenheit. That Weather Front thats bringing the rain is going to bring some heavy bursts of rain for a time across scotland overnight, but as we move into wednesday, itll be a fairly weak affair by then as it moves out of the Scottish Borders into the north of england and parts of north wales. Behind it, well see some sunshine as well, top temperatures around 14 18 degrees, ahead of it, were starting to drag up more Heat And Humidity once again, 28 degrees not out of the question. And it is this Heat And Humidity which may well trigger off some sharp thundery downpours late on wednesday towards the end of the working week. Why . Weve got this warm humid air starting to move up from spain and into france, could trigger off some sharp thunderstorms moving their way across the channel. Theres a lot of uncertainty just where these thunderstorms are likely to crop up and so, its Worth Keeping Abreast of the forecast but anywhere across Eastern England could be at risk of real torrential thundery downpours from time to time. Further north and west, its a drier and bright affair on thursday. Top temperatures down considerably, were looking at 13 22 degrees. Good morning, welcome to breakfast with Louise Minchin and dan walker. Our headlines today. Learn to live with the virus. Thats the message from the prime minister as the final stage of Lockdown Easing in england is delayed by four weeks. We must learn to live with it and every day that goes by, were better protected by the vaccines and were better able to live with the disease. Some good news for happy couples, as the 30 Person Cap on wedding guests is scrapped. I warning that this latest extension is more than some businesses can bear. I am is more than some businesses can bear. Iam in is more than some businesses can bear. I am in york

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