Transcripts For BBCNEWS World Business Report 20240710

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Of social Media Influencer we start in the us where Wall Street shares have hit new Record Highs after the senate struck a bi partisan deal for an Infrastructure Spending Bill worth 1. 2 Trillion. The eight Year Plan includes funding for roads, bridges, the power grid, Public Transport and internet. President biden has hailed the agreement, but its a Far Cry from the 2 Trillion he originally wanted and is missing the funding for his climate Agenda And Family care. From new York Samira Hussain has more. For a washington that has been mired in part as in politics, a bipartisan deal is something of a breakthrough. Although neither democrats nor republicans got everything they wanted, this package would spend billions of dollars on fixing americas roads, increasing Internet Access across the country and building more electric charging stations. The biggest Sticking Point was how to pay for the deal. Republicans made it clear they would not support increases to the corporate Tax Rate and instead the bill will rely on unused Coronavirus Relief funds and increased enforcement by authorities to make sure that the wealthy pay their taxes that they owe. Economists left right and centre, independent Wall Street forecasters, they all say that these kind of public investment leads to more job, these kind of public investment leads to morejob, all Workers participating in the Labour Force labourforce, Hyder Productivity and a higher growth for our economy over the Long Run. Growth for our economy over the lona run. ~ � Long Run. While the biden administration Long Run. While the biden administration may Long Run. While the biden administration may call. Long run. While the Biden I administration may call the dealer triumphant still needs to pass congress and that is not guaranteed. But if it does, it would be the most significant investment in americas rumbling infrastructure for more than a decade. Fahad kamal is chief Investment Officer at kleinwort hambros. Hejoins me now. It is good to see you. This deal is really going to test bipartisanship as a mode of governance in the united states, isnt it . It is barely in united states, isnt it . It is barely in the united states, isnt it . It is barely in the narrow united states, isnt it . It 3 barely in the narrow sense bipartisan. Firstly they are not really sure if republicans are going to be there and enough numbers for this to pass a filibuster. The second point is that it is quite narrow in what both sides have agreed on, which is basically physical infrastructure, tangible things you can touch, roads and bridges like you mentioned. The Sticking Point is that the democrats have refused, specifically the Progressive Wing have refused to go ahead with this part of the bill unless they get another bill that runs concurrently with this that passes the Human Infrastructure things, that particular President Biden in the Progressive Wing are keen on. �. Y. , the Progressive Wing are keen on. ,. , on. Im glad you pick that up. As ou on. Im glad you pick that up. As you say on. Im glad you pick that up. As you say there on. Im glad you pick that up. As you say there were on. Im glad you pick that up. As you say there were almost two different deals running concurrently here and the second one, the Human Infrastructure and biden� s plans for what amounts to a social revolution in the united states. That actually needs fewer votes, doesnt it . Only 51, i think. Fewer votes, doesnt it . Only 51. I think 51, i think. Yes but it uses a powerful 51, i think. Yes but it uses a powerful yet 51, i think. Yes but it uses a powerful yet non 51, i think. Yes but it uses a powerful yet non partisan l powerful yet non partisan legislative measure called reconciliation which effectively allows you not to have to bring anybody over from the other side. But the democrats themselves are Split Asunder between progressives and moderates and effectively the grand bargain that has been struck here, if you think about two circles that have just about overlapped, a sliver of the Venn Diagram whether moderates have said ok, if we can get this and that we will do it for them both and a lot of it hinges on that tiny sliver. It is possible that all of this passes and if it does you are right, revolutionary would be the world. Notjust in terms of physical infrastructure but in Human Infrastructure. I infrastructure but in Human Infrastructure. Infrastructure but in Human Infrastructure. I feel like we have knocked infrastructure. I feel like we have knocked it infrastructure. I feel like we have knocked it down infrastructure. I feel like we have knocked it down for i infrastructure. I feel like we | have knocked it down for the last two or three minutes and it probably will not happen, it would be difficult, there is a social aspect that no one agrees on. But this, we must be honest on the face of this, this is still a huge achievement, even if it is only achievement, even if it is only a tiny sliver, as you say, in the overlaps of event diagram. Look, i knock it down but probably because it is a Moonshot But One that is really possible and doable and would be revolutionary. If you think about the two real structural causes of economic growth in the Long Run, one is Population Growth and we know that across most western countries it is not happening and in the us it only happened through immigration. The other way in which you can get economic growth is Productivity Increase and if this were to happen you really do Set Notjust the united states but the Western World, given the us acerbic, the Western World up for a renewed renaissance of growth. So the potential is enormous and i guess there is nervous excitement which may mask itself as pessimism but it is not. It is genuine optimism that we really do have a lot of Moving Parts here and the stars need to align perfectly. Nervously excited. Thank you very much for your time today. As youve been hearing the uk has widened its list of � green� Travel Destinations to the relief of many in the travel industry. From next monday, british tourists will be able to visit spains Balearic Islands, malta, Madeira And Caribbean destinations including antigua and barbados without Self Isolating on return. Transport Secretary Grant shapps also says the government plans to drop quarantine for fully vaccinated people returning from Amber List countries effectively the rest of europe later in the summer. But Travel Bosses say the announcement doesnt go far enough. Lets get the views of Travel Expert simon calder. To see you, simon. Before a paul Cold Water on Everyones Holiday hopes, it is important to recognise here that all these, with the exception of malta are on a Watch List for amber. So i wonder, how many people will be rushing out and trying to buy a ticket to go away this summer when at any time any of those countries with the exception of malta could go straight back to amber. We can see him but we cannot hear him. If we can get him back we will and because i want to hear his views on that. And what may happen. Of course, whether or not any of this will be enough to restart air travel. Lets try to reboot and restart simon. Lets see what happens. We have him back thank you for sticking with us. A few gremlins in the system this morning. I wasjust asking you about whether or not people are going to go out and spend big on a holiday now that we have more countries on the Screen List when so many of them are actually on a Watch List for amber so they could go back and people may have to quarantine again anyway. Mr; quarantine again anyway. My evidence. Quarantine again anyway. Iji evidence, looking quarantine again anyway. M evidence, looking at the quarantine again anyway. M1 evidence, looking at the way that fares have been transformed in the past ten hours or so since this began is that they most definitely are committing. I have been looking at fares from manchester to malta, from stansted across to a visa, one of the Balearic Islands and also from London Heathrow to madeira and basically fares have pretty much doubled since the announcement was made which shows there is a lot of pent up demand. Bear in mind that before this all that you and i could go to a not lead to quarantine on the way back effectively the Green List can prized iceland and gibraltar, both have lovely places but not exactly mainstream. The addition specifically of the Balearic Islands, majorca, abbey for minorca means that it is going to be a bit of a summer, i think, for many people but the travel industry, as you say is giving it a grudging welcome. They say they need far more to open up if there is to be a hope of Saving Summerfor the airlines and summer for the airlines and Holiday Summerfor the airlines and holiday companies. Summer for the airlines and holiday companies. Summer for the airlines and holiday companies. Lets talk about where holiday companies. Lets talk about where we holiday companies. Lets talk about where we are holiday companies. Lets talk about where we are with holiday companies. Lets talk about where we are with the | about where we are with the timeline. It is nearly the end ofjune. How much summer will be left before we have a timetable on this double Jab Idea . Timetable on this double Ab Idea . ,. Idea . That is the big concern. This is simply. Idea . That is the big concern. This is simply, of idea . That is the big concern. This is simply, of course, idea . That is the big concern. This is simply, of course, the | this is simply, of course, the idea that those of us who have been lucky enough to have both jabs really do not need to self isolate when we come back from a medium risk Amber List country. There will still be a lot of testing involved. And this is a great idea, the terrible industry said. Why not introduce it now rather than just waiting for another few weeks, another couple of months, possibly . The idea looks straightforward and is employed by a vast number of other countries across europe and further Around The World and further Around The World and there is absolute bafflement that this is not happening yet. Of course it does raise all kinds of ethical issues. What about young people who put their lives on hold for over a year and since they have not all been vaccinated yet they will have to watch while older people race off and enjoy the sunshine. What you do about children . Other countries have done this and there is some dismay that the uk has kicked things down the road again. Thank you very much, simon for your views. There is more on this story available on the website as well. Lets turn our attention now to asia where some news come outjust in the last hour or so. About toshiba, the troubled technology giant. They have been voting and they have voted, shareholders have voted to oust the chairman. It is being seen as a watershed moment for the corporate Government Structure ofjapan. Government structure of japan. Lets speak to our Government Structure ofjapan. Lets speak to our report has been following the story for us. Been following the story for us. ,. , been following the story for us,. , been following the story for us. So it has rocked corporate ja an us. So it has rocked corporate japan and us. So it has rocked corporate japan and that us. So it has rocked corporate japan and that is us. So it has rocked corporate japan and that is because us. So it has rocked corporate japan and that is because it i japan and that is because it has been so ongoing and widespread. Let me try quickly sum up what happened. Back in 2015 it emerged that toshiba had been overstating its profit for about six years and at the time this rocked corporate japan as you can imagine. The conglomerate, one ofjapan� s conglomerate, one of japans largest conglomerate, one ofjapan� s largest had to sell a number of its businesses and It Shares were demoted to the second tier. And at the time we saw a rise of activist investors. These are investors who initially were from japan but they were primarily based abroad and now they wanted to say how The Business should one run. At the time what we have heard since is that an independent enquiry has found that the government teamed up with the board at their request and basically Worked to try and quieten down these activist investors. That has been seen as a real breaking of law by the ministry of Industry And Trade there and there is a question as to whether or not the Boards Chairman who only came into his position at the middle of last year could survive this meeting today. It has turned out he has not been able to do so. That is because many are saying he was unable to at first did not support this independent enquiry. Thank ou ve this independent enquiry. Thank you very much. This independent enquiry. Thank you very much, katie. This independent enquiry. Thank you very much, katie. This you very much, katie. This week, the Dating App Bumble Hit the headlines. When the boss closed all its offices and sent Staff Home to combat Workplace stress. Its 700 staff worldwide have been told to switch off and focus on themselves amid what one Worker called � collective burnout�. The pandemic and the difficulties of Working-from-home'>Working From Home have piled more pressure onto staff so are businesses now having a more open debate about Mental Health . Lets hear from the chief Operating Officer of the Communications Agency media,. Of the Communications Agency mediacom. Josh has been an advocate for more action by companies to keep track of staff Mental Health. Thank you forjoining us today, josh. Good to see you. I wonder if we could start with this question. Do you think the Magazine Revolution has turned out to be more of a curse than a blessing . Out to be more of a curse than a blessing . Yes in many ways it has. I a blessing . Yes in many ways it has i think a blessing . Yes in many ways it has. I think the a blessing . Yes in many ways it has. | think the ceo a blessing . Yes in many ways it has. | think the ceo of a blessing . Yes in many ways it has. I think the ceo of bumble | has. I think the ceo of bumble should be applauded for what she has done. It is a genuine recognition of the potential burnout of their employees and many employees Around The World. The truth is i think there has been a rise in Mental Health problems globally since way before the pandemic are definitely magnified through the pandemic. People have suffered Loss And Illness and job losses but Workers across all industries have been burdened very much because of zoom and the culture that we Work in now. So we have much longer Working hours because people do not commute to Work as much, people are languishing at home in isolation and i think as a result people have been subjected to the burnout where they have both physical and emotional exhaustion that leads people to feel less accomplished in their day to day. I definitely think this is, at a time this announcement has come at a time where restrictions are easing and office Workers are starting to return to Work or at least come back to a new Hybrid Model of Working. So i think it is a welcome announcement that she has made. ,. ,. , welcome announcement that she has made has made. You are an advocate of companies has made. You are an advocate of companies trying has made. You are an advocate of companies trying to has made. You are an advocate of companies trying to keep of companies trying to keep track of staff Mental Health. And this comes from a personal place for you, doesnt it . Place for you, doesnt it . Yes. So i place for you, doesnt it . Yes. So i think place for you, doesnt it . Yes. So i think Business Place for you, doesnt it . Yes. So i think Business Leaders so i think Business Leaders have a duty of care to protect the Health And Happiness of our employees and this is something, this is a drum i have been beating for quite a few years now. We have an approach at my place where a few are a global company, culture is different from market to market and one side one size does not fit all. So we have created a frameWork for Mental Health can be tailored to the local culture and social setting of each office. So it is kind of design to look after people give them the tools to look after each other. I think it is really important that companies take responsibility for, for looking after their people. And i think one of the few positives of the past two years through this pandemic has been that people have been increasingly conversation the stigmatisation of Mental Health. I do worry when the world goes back to some semblance of normality, that people only focus on the bottom line and less on the Well Being of their people and so in the uk where i live, i am campaigning Forthe Uk Campaigning for the Uk Government Campaigning Forthe Uk Government to mandate mental Health Reporting in a similar way they have mandated the Gender Pay Gap and putting the essence on it being a positive exercise where best practice has been made easy to access for companies and allowing not just an assessment of the behaviours in The Business but also in the internal culture and i think its really, really important thing for businesses to thrive. Businesses are all about the people, people are the biggest assets so its really important to look after those people and to do their very best Work. Those people and to do their very best Work. And they can certainly very best Work. And they can certainly get very best Work. And they can certainly get lost. Very best Work. And they can certainly get lost. People very best Work. And they can j certainly get lost. People are the biggest assets of any business. Thank you so much for your time. Stay with us on Bbc News, still to come staging a Protest Theatre bosses take the Uk Government to court over covid restrictions. Members of the Neo Nazi Resistance movement stormed the world trade center, armed with pistols and shotguns. We believe that, according to international law, that we have a rightful claim to certain parts of this country as our land. I take pride in the words Ich Bin Ein berliner. Cheering and applause as the uk woke up to the news that it is to exit the european union, Leave Campaigners began celebrating. In total, 17. 4 million people voted for the uk to leave the eu. The medical Research Council have now advised the government that the great increase in Lung Cancer is due mainly to smoking tobacco. It was closing time for Checkpoint Charlie which, for 29 years, has stood on the border as a mark of allied determination to defend the city. This is Bbc News the latest headlines the search for survivors is still underway after an Apartment Block collapses in Miami Dozens remain unaccounted for. More countries are added to the uks Green List, meaning holiday Makers Wont have to quarantine when they return. Theatre bosses and producers, including andrew lloyd webber, have started legal action, demanding the Uk Government publishes research into the safety of indoor events during the pandemic. They want ministers to spell out their reasons for Keeping Restrictions on audiences in place. The uk has been holding a pilot scheme, testing audiences at live events, but the Theatre Industry say it has refused to reveal the results. The government says it is gathering evidence to allow all live events to resume once its safe to do so. Robin hawkes is Executive Director of Leeds Playhouse and a Board Member of uk theatre, the industry lobby group. Good to see you. Good morning. Can ou good to see you. Good morning. Can you explain good to see you. Good morning. Can you explain what good to see you. Good morning. Can you explain what matters i good to see you. Good morning. Can you explain what matters to| can you explain what matters to you to have this data published . You to have this data published . You to have this Data Ublished . ,. , published . From what we understand, published . From what we understand, the published . From what we understand, the data published . From what we understand, the data that emerge that has been going on for the last few months has been very positive about the safety for audiences of coming back to the edges at full Capacity And Weve had headlines of that from other people in government back to theatres but the research has not been published to allow theatres to take this Step Forward. ~. Theatres to take this Step Forward theatres to take this Step Forward. ~. ,. , theatres to take this Step Forward. ,. , forward. What position has this dela left forward. What position has this delay left the forward. What position has this delay left the industry forward. What position has this delay left the industry in . Forward. What position has this delay left the industry in . The | delay left the industry in . The delay left the industry in . The dela in delay left the industry in . Tue delay in reopening theatres is really difficult. The uncertainty about when we can reopen is equally difficult because a Theatre Production is not something we can simply switch on the tap the day before and its available to audiences. There is a really long lead time in Production Process and rehearsals and its difficult for the have the confidence to start that process without certainty. The thin. Process without certainty. The thing about process without certainty. The thing about your process without certainty. The thing about your case, what does operating at Half Capacity mean for you at the Leeds Playhouse . Playhouse . We are in a fortunate playhouse . We are in a fortunate Position Playhouse . We are in a| fortunate position where playhouse . We are in a fortunate position where we have been able to open the theatre in the course of the last month, thanks largely to the funding we have received through the Culture Recovery Fund which allows us to operate for a period of time at reduced capacities, subsidised by the fund. We encourage audiences to return and to hopefully tell their friends and they will be returning to the theatre in the future as well. That is brilliant to be able to do. We have a brilliant coproduction of a little Night Music which is due to hit the Stage Tomorrow but this is not sustainable in the long term we need full audiences in the Long Run to be able to return to normal. Thank you for your time today. Finally, to a new breed of social Media Influencer. Earning 45,000 for an Instagram Post is pretty good going for a person. But what about for a cat . Funky music. In recent years we are thing brands gravitate to pet influences. With the us, we are gaining traction when Working with a legged friends and we are seeing people being much more open to the idea of Working with pets as opposed to influences. Pet owners can be extremely selective, even if youre paying them big money. One of the main reasons is because a lot of these accounts are not professional so theres need for them to take on the views being offered. In 2020, Pet Spending in the us exceeded 100 Billion and many brands invest a lot more to capture the eye of consumers because they are willing to spend a lot of money on their pets, right . They want to pamper and give them the best. Many brands recognise that this is a market that has high disposable income and i want to target these people. I think this channel of marketing would get more popular. The engagement we received for this post was very positive so we will continue Working with pet influencers to get the reach that comes along. The mind boggles i never thought i would see a pomeranian Split Screen with The Rock i will see you soon. Stay with us on Bbc News. Hello there. North East Englands had the highest temperatures on thursday. One or two spots getting close to 26 degrees with some good spells of sunshine. But i dont think friday will offer a Repeat Performance because the weather has been changing. Weve seen Rain Pushing in from the North West in association with a band of cloud that you can see here on our earlier satellite image. This is a frontal system and as that drops its way south eastwards through friday, behind it, we pick up a northerly wind quite a brisk northerly wind in places and that will be feeding Cooler Air down across most parts of the uk. So a Cooler Day on friday, quite a messy weather day, really, but across england and wales many spots will start off cloudy with outbreaks of rain. Further south, it should dry up and brighten up with some sunshine and just the odd hefty shower into the afternoon. But for northern England And North wales, it is likely to stay grey and wet all day long. Northern ireland and Western Scotland should see a bit of sunshine, Eastern Scotland plagued by cloud and patchy rain. A brisk wind here keeping temperatures down to just 12 degrees in aberdeen, similar temperature there in newcastle, maybe 20 down towards the south where we could see the Odd Thunderstorm Breaking out through friday evening. And then into the early hours of saturday, a lot of cloud left behind, some splashes of rain here and there. Minimum temperatures between 7 and 13 degrees. Now, as we head into the weekend, it is a story of split fortunes. High pressure trying to build in towards the North And West of the uk. Low Pressure Spinning Close to the south. The detail will change between now and then but closest to that area of low pressure in the south, theres the chance for the Odd Shower to break out on saturday across southern england, parts of wales. Further north, although well have quite a lot of cloud, it will be increasingly drying out through the day. Temperatures between 1a and 20 degrees. And then as we get on into sunday, this area of low pressure will become slow moving across the near continent and is likely to throw bands of Rain Up in our direction from time to time. So southern parts of england, wales, maybe the midlands could see some rain at times on sunday. But further north, we see more in the way of dry weather and some spells of sunshine. And temperatures bouncing back 21 degrees in glasgow, a similar value there in london. Thats all from me for now. Good morning, welcome to breakfast with Naga Munchetty and charlie stayt. Our headlines today. Popular Holiday Destinations like ibiza, majorca and barbados are added to the uks green Watch List, but the government warns it could change at short notice. With cases rising in the uk, How Welcome Will British tourists be . And theres frustration from the travel industry. They say its because the changes dont go far enough and more countries could have been included. Any adult in england can get a vaccine without an appointment this weekend at walk in centres across the country. And from Video Calls to ordering a drink in the pub,

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