Transcripts For BBCNEWS World Business Report 20240709

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Lets start here in the uk where people are asking if christmas will be cancelled again this year or will englands Winter Covid Plan ensure the festive season gets the green light . All will be revealed later when the Uk Government sets out its plans to tackle the virus over the coming months. The government has now confirmed it will begin vaccinating 12 to 15 years olds and is expected to lay out plans for a Booster Scheme for those already vaccinated. The government is also expected to repeal parts of the coronavirus act, such as taking the power to close down the economy away from downing street. Joining me now is Kate Nicholls, chief executive of uk hospitality. Before we get on the winter, i havent talked to you for a while. Where are things at right now for the Hospitality Industry given the challenges, staff shortages, that kind of thing . Staff shortages, that kind of thin . Staff shortages, that kind of thin . , staff shortages, that kind of thing . The Hospitality Industry is startin thing . The Hospitality Industry is starting to thing . The Hospitality Industry is starting to gradually is starting to gradually recover from 16 months a very severe restrictions, ten months of closure, but as you say, staff shortages, labour shortages, challenges with the Food Supply Chain have meant that over the summer they have not been able to operate at full capacity, and that recovery has been slower than anticipated but they are now starting to head in the right directiOn And crucially what we need is a period of stability to rebuild confidence, allow businesses to rebuild shattered Balance Sheets and time for the recovery to take hold and stabilise. Recovery to take hold and stabilise. ~. , stabilise. What are you hoping will be in the stabilise. What are you hoping will be in the winter stabilise. What are you hoping will be in the Winter Plan stabilise. What are you hoping will be in the Winter Plan for i will be in the Winter Plan for england . Will be in the Winter Plan for encland . Will be in the Winter Plan for england . Will be in the Winter Plan for england . The key thing, the critical Thing England . The key thing, the critical thing for england . The key thing, thei critical thing for determining the assessor that recovery is confidence. We need to rebuild Consumer Confidence, Business Confidence and investor Confidence And Investor Confidence And Investor confidence and that means commitments as far as possible to keep the economy open and particularly to avoid damaging lockdowns on hospitality, and we were heartened by the fact that there was recognition about that from number ten and ministers over the weekend with a briefing about the winter economic plan of the dangers that could come if there were further restrictions on hospitality, so that is what were looking for first and foremost, a prioritisation to keep the economy moving, to keep the economy moving, to keep Hospitality Industry open. Right now, families, households, businesses, everyone is trying to plan for Christmas Celebrations they may have in mind, event they want to put on, and its very difficult when you dont know what is ahead, especially with children now at risk of returning to school and real nerves about Infection Rates going up again. Nerves about Infection Rates going up again nerves about Infection Rates going up again. Absolutely, the nervousness going up again. Absolutely, the nervousness about going up again. Absolutely, the nervousness about Infection Nervousness about Infection Rates looking around other parts of the uk and the rest of the world, there is the spectre of last year hanging over the industry and hanging over consumers as they make their plans, and until we have some of that uncertainty removed by comments and outlining in the plan that vaccination is the route out of this, that we are going to use vaccinatiOn And avoid lockdowns, and economic restrictions that do such harm, that will impact on our ability to plan for christmas, and it will impact upon Consumer Confidence to make those bookings, and lets not forget that about half of Industry Profits come from that period between halloween and new years eve, so it is vital to get this right if we are to avoid furtherjob losses and further Business Failures across the sector. Lets get some of the days other news. Apple has issued a Software Patch to block so called zero Click Spyware that could infect iphones and ipads. Independent researchers identified the flaw, which lets Hackers Access devices through the imessage service even if users do not click on a link or file. Apple said it issued the Security Update in response to a maliciously crafted pdf file. South koreas Antitrust Regulator has fined google 177 million, accusing the american Tech Giant of abusing its dominant market position. The regulator said google had blocked local Smartphone Makers from using other operating systems. Supermarket Chain Tesco is to trial its zero Waste Shopping Service at 10 stores in the east of england. Customers will be able to buy common Household Goods in reusable packaging that can be returned to the store to be used again. The trial aims to meet demand for less single use plastic packaging. Leading us democrats have released plans for a partial rollback of former us president Donald Trumps Tax Cuts. They propose raising the top rate of Corporation Tax to 26. 5 from 21 . Wealthy individuals would see a jump in their income taxes, as well as higher Capital Gains and inheritance taxes. The plans, to be debated this week, would help fund the democrats 3 . 5 trillion domestic investment plan. Kathleen brooksjoins me now from minerva analysis. Good morning to you. So, this, your typical expectation when your typical expectation when you have a democratic government in play in the us, taxes go up, the rich pay more towards helping the poor, is that what this is about . I think you have hit the nail on the head. The timing of it is very interesting, i Thinkjoe Biden and his team, they really want the focus to be back on the domestic agenda after disastrous withdrawal from afghanistan, but this is something he has been planning all along and what is quite interesting is that its not this crazy democratic programme thatis this crazy democratic programme that is just designed to help the progressives and to get them on bidens side, this is quite a moderate programme and your point about the corporate Tax Rate being raised to 26. 5 , it would still be lower than it was back in 2017 before Donald Trump imposed those Tax Cuts during his term. What we are also seeing is that this is designed to find a huge 3. 5 trillion package that will limit childcare, help the elderly, Climate Change proposals and other things, that should really provide a better social Safety Net to the us. Usually these things come unstuck if they cant be funded, Butjoe Biden is taken the bull by the horns and saying we need to raised 2. 9 trillion in taxes over the next ten years and this is how we will do it. To do at this early in his presidency suggest that this is really how he wants his legacy to be seen, he is providing this social Safety Net, without upsetting the more moderate democrats. We dont hear much about that because he has such a slim majority in just one deciding vote in the senate. I just one deciding vote in the senate. , just one deciding vote in the senate. ,. ,. , just one deciding vote in the senate. ,. ,. , senate. I was about to ask you, with such senate. I was about to ask you, with such a senate. I was about to ask you, with such a wafer senate. I was about to ask you, with such a wafer thin with such a wafer thin majority, they need everyone on board to get this through and that may not happen . Absolutely. Because this is a huge, ambitious spending programme, we have never had anything like it, even to support the economy during covid or the financial crisis, this is huge. He is throwing everything out there, all the taxes that you can get, the surcharge of 3 on owners of eight these corporate Tax Increases, Capital Gains, its all coming it wants. He is seeing what can stick, what he can get through the moderates in the party, because its about uniting the democrats. All they need a majority, and kemal Kamala Harris as the deciding vote. This is the package that they have proposed at this stage. I think we will see iterations of it. The corporate Tax Rate will stay around that level firstly because it was lower than it was in 2017, but also because we have seen this global push to raise corporate taxes of the biggest companies out there, and this Tax Increase would not increase the Tax Burden on smaller businesses, that will fall based on these proposals. What we see is somethings will 90, what we see is somethings will go, somethings wont. Go, somethings wont. More details on go, somethings wont. More details on that go, somethings wont. More details on that on go, somethings wont. More details on that on our go, somethings wont. More i details on that on our website. After a day of confusion, the retailer walmart has confirmed its not about to start accepting the Litecoin Cryptocurrency as payment. A fake Press Release suggesting otherwise caused the price of litecoin and other cryptocurrencies to jump. Our North America Business Correspondent Michelle Fleury has more from New York. Its incredible, the Impact A Hoax can have. After a fake Press Release that said walmart would begin accepting Crypto Currency as payment, the Price Spike more than 30 , so to the value of a Crypto Currency. Once it became clear the story was not true, the value of the coin dropped, but how did the number 1a Crypto Currency by Market Cap End up making such a splash . News of the partnership first appeared on a service called global news, before being picked up by various news outlets. Soon after, questions began to appear on twitter, with users pointing out that the Official Litecoin tweeted the Official Litecoin tweeted the account and then deleted, and there no sign of it on walmart� s website, the retailer confirming that it was not true. The con is being compared to a Pump And Dump scam, where false information is spread to drive up the price of an asset. Anyone holding lots of it could have made a lot of money. Still, the drama could not come at a worse time, with us regulators ramping up their scrutiny of Crypto Trading and lending. In fact americas main financial regulator is set to testify to lawmakers later this tuesday, and this episode is likely to do little to change his mind that the world of new finance is like the wild west, and needs to be reined in. That is michelle. Shares in chinas second biggest property developer, china evergrande, were down more than 6 earlier today after the group released a statement saying it will continue to see a significant drop in Property Sales this month and cannot guarantee that it will meet its financial obligations. Joining me now is katie silverfrom singapore. It sounds like they are in trouble. It sounds like they are in trouble it sounds like they are in trouble. ,. ,. , trouble. They are in trouble auain, trouble. They are in trouble again. This trouble. They are in trouble again, this issue trouble. They are in trouble again, this issue goes trouble. They are in trouble again, this issue goes on i trouble. They are in trouble i again, this issue goes On And on, and for china, its its biggest financial worry, on, and for china, its its biggest financialworry, in on, and for china, its its biggest financial worry, in a country that already has many financial worries, so i started the day around 6 down, and it is now down 10 in the company has lost about half of its value in this month alone. The reason for this is because it owns about 1300 different properties across china, and many of these are in the Rental Estate but also they have many things like soccer clubs, theme parks, electric vehicles, their investments are wide and they have done this, bought up about 1300 different types of investments through extensive borrowing and the problem here is that if it cannot repay its almost 300 Billion in loans, that will send shockwaves through chinas entire financial system, so this is a huge problem for beijing, and its been really going since about this time last year when the company first signalled it would struggle to repay some of its creditors. Since then that has shown no signs of easing up. There are talks of selling more shares, listing more of its assets as different companies but there is also talk of a Government Bailouts and beijing is between a Rock And Beijing is between a rock and a hard place. On the one hand,is and a hard place. On the one hand, is very important for the Economy And Stability for this company to survive, but on the other, it sets bad example about the problems are borrowing too much debt and potentially receiving a government bailout. Stay with us on bbc news, still to come learning from home we take a look at how Australias Closure of schools due to to covid 19, is effecting students and their parents. 30 hours after the earthquake that devastated mexico city, Rescue Teams still have no idea just how many people have died. Well, there is people alive and there is people not alive. We canjust help and give them whatever weve got. A State Funeral has been held for Princess Grace of monacol at the church where she married prince rainier 26 years ago. It looked as though they had come to fight a war, but their mission is to bring peace to east timor, and no where on earth needs it more badly. The Governments Case is being forcefully presented by the monsieur badinter, justice minister. Hes campaigned vigorously for abolition, having once witnessed one his clients being executed. Elizabeth seton spent much of her time in this grotto, and every year, hundreds of pilgrimages are made here. Now that she has become a saint, it is expected that this area will be inundated with tourists. The mayor and local businessmen regard the anticipated boom as yet another blessing of saint elizabeth. The of saint elizabeth. Top stories of. Millions more doses of coronavirus vaccines are promised asthe british Prime Minister prepares to set out his plans for Autumn And Winter boosterjabs. Texans are preparing to face Hurricane Nicholas as 65 mile an hour winds, and 20 inches of Rain Head for the central coast of the us state. Employers in the uk are looking to hire more staff at a Record Rate as they enter the fourth quarter, according to the latest Manpower Group Employment outlook survey. This coming quarter, a record 50 of all employers intend to increase headcounts but some sectors are struggling to recruit staff such as Hospitality And Logistics where wages are rising. Well, lets talk to Manpower Group about their findings Chris Gray is director of Manpower Group uk. We have the furloughs gaining coming to an end and we have employers looking to hire. Where is the most activity at the moment . The moment . This positive outlook is the moment . This positive outlook is being the moment . This positive outlook is being fuelled. The moment . This positive outlook is being fuelled by| the moment . This positive outlook is being fuelled by the utility set, the Finance And Business Service Sector which of course represents over 70 of course represents over 70 of our uk gdp. And the index were getting from those sectors is plus 46. Anything over zero is a very positive index because it tells us the number of employers are looking to increase the size of their workforce. We think the Utility Sector is looking for more people because they havent been able to get into people public houses and do Metre Readings or upgrade metres and of course the finance of business Services Sector is being fuelled by generally the economy waking up and looking forward with more confidence. In terms of the Utility Sector there is a huge backlog there was not that must be true in other industries as well. We have mentioned the challenges facing hospitality with Kate Nicholls earlier. Where are the real problems in terms of not being able to find the people that employers need. That employers need. Across Multi Le that employers need. Across multiple roles. That employers need. Across multiple roles. Not that employers need. Across| multiple roles. Not restricted to just a lot of what we are hearing about stop with drivers. We are not the only market, but we are seeing this in Customer Service roles, entreat skills, in care, so unfortunately it is a challenge across the board and this is the Supply Chance we have to deal with not only in the short term which is leading to some employers trying to deal with it by increasing wages but in the medium to long term where we have really got to read Gallon Upscale our workers into these surging sectors and surging roles. These surging sectors and suruain roles. , surging roles. The Government Sa s surging roles. The Government Says train surging roles. The Government Says train the surging roles. The Government Says train the british, surging roles. The Government Says train the british, get says train the british, get them on board, employed british, but dont you think that in some particular cases there is a need for temporary visas for the European Workers . Absolutely. Weve seen our Talent Pool Shrink and we need to find a way of topping it up and we cant rely on just the geography outside europe. We need to find a way of being able to tap into the Talent Pool is next door, as it were. And this applies to not only some of the niche high skills that we need to fill some of the roles with but also a lot of the manual and lowest filled roles that we need as well. Chris grey, thanks to talk great to talk to you. Angst for sharing your analysis out by Manpower Group today. Lets turn to australia now where a growing number of children are Testing Positive for covid 19. With more than half of the population in lockdown, schools are closed for many students. Theyve spent months learning from home with parents, and caregivers. From sydney, Phil Mercer takes a look at how some students and families are adjusting to learning during a learning at home in lockdown can be as log. For many australian teenagers about to finish high school, the stakes are high as exams approach. No one has been that motivated anymore stop everyones Mental Health has definitely degraded significantly to everyones like a little bit lost, were not really sure where we what were doing and not confident we are able to get the marks we wanted to get. Schoolchildren in parts of australia have now had two years of their education affected by covid 19. For some they will be longer term consequences. They will be longer term consequences. They will be longer term conseuuences. �. ,. ,. , consequences. Im doing a story called the consequences. Im doing a story called the unusual. Consequences. Im doing a story called the unusual. Others called the unusual. Others will take called the unusual. Others will take it called the unusual. Others will take it in called the unusual. Others will take it in their called the unusual. Others will take it in their stride. I l will take it in their stride. I get to be a seahorse with wings. It get to be a seahorse with wins. , , get to be a seahorse with winls,. , ,. , get to be a seahorse with wins. ,. ,. Wings. It enables our children to develop wings. It enables our children to develop skills wings. It enables our children to develop skills of to develop skills of organisation, autonomy, adaptability, which are profoundly important for the challenges that are going to come challenges that are going to come in challenges that are going to come in the rest of their lives come in the rest of their lives. We also need to think ahout lives. We also need to think about their stress looks very different about their stress looks very different to our stress. They might different to our stress. They might be different to our stress. They might be rude, they might be angry, might be rude, they might be angry, they might be defined. Children angry, they might be defined. Children in New South Wales which continues to battle the dental variant, which continues to battle the dentalvariant, could which continues to battle the dental variant, could start heading Back To School in October Delta variant. While doctors say it is not an innocent disease in the young, it affects adults much more. Axa nations have been approved for those over the age of 12, as australia charts a future beyond the pandemic vaccinations. School closures have broader economic consequences as parents juggle childcare with working from home. ,. ,. ,. , childcare with working from home. ,. , home. There is a lot of people who are being home. There is a lot of people who are being disrupted home. There is a lot of people who are being disrupted in who are being disrupted in their work that is not economic reasons, they have not been stood down or had their hours cut because the business is struggling, it is one of these other regions, one of which would be working from home. We know it is having an impact and we know it will start to come through an Activity Date out when we get that later in the year. When we get that later in the ear. ~ when we get that later in the ear. ~. , year. Like their counterparts in other countries, year. Like their counterparts| in other countries, australian children are learning some hard lessons about Resilience And Isolation. Lessons about Resilience And Isolation lessons about Resilience And Isolation. ~ � ,. ,. , isolation. Weve probably spent this last term isolation. Weve probably spent this last term and isolation. Weve probably spent this last term and crying isolation. Weve probably spent this last term and crying a this last term and crying a little bit too much. We didnt know that the end of term three was goodbye. Know that the end of term three was goodbye was goodbye. These are times the pandemic was goodbye. These are times the Pandemic Generation was goodbye. These are times the Pandemic Generation will i the Pandemic Generation will never forget. The Pandemic Generation will neverforget. Phil mercer, bbc news, sydney. Absolutely. I have three boys and homeschool was fun, lets put it that way. Such fun the words � Team Building may stoke fear in employees hearts at the best of times and during a pandemic, they often meant several extra hours on zoom. So businesses are now coming up with ways to get staff to get re acquainted with new colleagues after such a long period working from home. Our next guess may have the answer. Award winning crime Writer Fiona Sherlock has devised an interactive Team Building event called � Murder On The Second Floor� to help companies welcome Staff Back Post lockdown. A warm welcome to the programme. If yoursurname a warm welcome to the programme. If your surname are happy coincidence or did you change it . Change it . No, it is a happy coincidence. Change it . No, it is a happy coincidence. Sherlock change it . No, it is a happy coincidence. Sherlock is change it . No, it is a happy coincidence. Sherlock is a i coincidence. Sherlock is a norman name, so the normans came to ireland in the 12th century. There is every chance that Sir Arthur Conan Doyle was inspired by one of my comments and of the other way around. Teambuilding, ifi and of the other way around. Teambuilding, if i was invited to that, i dont think would be that excited. That excited. What is it all about . Some that excited. What is it all about . Some people that excited. What is it all about . Some people are| that excited. What is it all. About . Some people are not happy about going back to the office. Some people are anxious about a new environment, the commute, office politics, and potentially a decrease in productivity as a result of all that increased consult to make collaborations. Those few Weeks Backin collaborations. Those few weeks back in the office are really a crucial time to keep morale high among staff and for staff attention. Employers are conscious of this for, i have heard of everything from daily massages to gourmet food. One company in New York is even installed the hive to engender that sort of connection to nature so that is where i came up nature so that is where i came up with the idea of Murder On The Second Floor. Many officers are pretty different places from how they were pre pandemic and they have been downsized, there is a lot of hot desk in stock people are very different as well. The idea that this is a real life icebreaker game, is a fun way to make some positive memories in those first few days back in the office because ultimately, happier employees will be more productive and the employers will have better Staff Retention rates. Will have better Staff Retention rates. � , retention rates. And briefly, i presume. Retention rates. And briefly, i presume. Is retention rates. And briefly, i presume, is this retention rates. And briefly, i presume, is this a retention rates. And briefly, i presume, is this a socially. Presume, is this a socially distant version of Murder On The Second Floor because you cant really get up close and personal with your Colleagues Straightaway as we all returned offices. ~ ,. , straightaway as we all returned offices. ~ , ~ , offices. Absolutely. And it is very much offices. Absolutely. And it is very much designed offices. Absolutely. And it is very much designed within l offices. Absolutely. And it is very much designed within those protocols. The idea is that employers are invited on a tour of the office. It starts pretty ordinarily, with maybe the photocopier and the cafeteria until they find a buddy on the floor under the desk and that is really where the detective comes in. He equips the players with a dossier of evidence as they start to realise that it is a game so they work through their Evidence Files and they interview other suspects as they have to race each other to decide who is going to be the ultimate winner who is going to get to the price first. Well, it sounds get to the price first. Well, it sounds hilarious get to the price first. Well, it sounds hilarious actually| it sounds hilarious actually fiona what i am sure it is a greater teambuilding exercise. Thank you so much for being on the programme. Who would be the detective at the bbc . My goodness. I will see you soon. Hello there. This upcoming week is looking pretty changeable. Weve started off with a bit of sunshine around and some warmth. Today, though, it looks decidedly wet for parts of england and wales in particular. Then midweek, a Ridge Of High Pressure will settle things down, we should see some good spells of sunshine before more rain arrives for friday as a new low pressure moves off the atlantic. Now weve got a complicated area of Weather Fronts moving northwards across the country this first one bringing Light And Patchier rain across parts of scotland and northern england, but its this batch of rain across parts of central, southern, and Eastern England which will be quite heavy with the risk of some localised flooding in places, maybe some rumbles of thunder as it continues to journey its way north eastwards. But i think we should start to see Skies Brightening Up in northern ireland, wales, southwest, but the sunshine comes out and could set off a few heavy showers. But disappointing temperatures where we have The Cloud and the rain, otherwise highs of around 19 20 celsius in the warmest spots. That rain eventually clears away into the north sea. Could see a few showers, though, clinging back across Eastern England, and well see this very weak Weather Front Push into the northwest of scotland to bring some patchy rain. But elsewhere, mainly dry, temperatures just into single figures under clear skies. Otherwise, relatively mild again where we hold onto The Cloud. So, for wednesday and indeed, for thursday here, we have this ridge of high Pressure Building in, which is going to settle things down. There could be quite a bit of mist and fog, low cloud to start the mornings, but into the afternoons, i think therell be plenty of sunshine around. I think wednesday looks like being the mistiest, murkiest start to the day. Still a few showers across eastern England Thanks to that area of low pressure, and maybe a chance of some showers pushing to Western Scotland and northern ireland. Otherwise for most, it should be dry where we get the sunshine breaking through, highs of around 20 21 celsius. Otherwise, the high teens for most. Thursday, again, a bit of early mist and fog, and then it promises to be a largely dry day i think thursday looking like being the driest and sunniest day of the week. But well start to see wind increasing with outbreaks of rain across the far northwest of the country later on. Top temperatures, though, 22 23 celsius. All change, though, for friday. A new area of low pressure sweeps in off the atlantic. Itll bring a band of rain, some of it heavy, into western areas. Itll tend to weaken, though, as it pushes eastwards, and behind it, well see sunshine and showers following. Those temperatures a little bit lower on friday than thursday because therell be more of the breeze, more cloud and outbreaks of rain. This good morning, welcome to breakfast with Louise Minchin and dan walker. Our headlines today. Covid boosterjabs for the over 50s details will be set out today for a uk wide programme, as the Prime Minister says the pandemic is farfrom over. Vaccinations for children aged 12 to 15 will go ahead in england, after ministers confirmed last night that they accepted the chief medical officers latest advice. The government has accepted this recommendation. We will now move with the same sense of Urgency Weve had at every point in our vaccination programme. Lawyers for Prince Andrew Tell A Court in New York that Sexual Assault allegations filed against him are baseless and potentially unlawful

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