Transcripts For BBCNEWS World Business Report 20240709 : com

Transcripts For BBCNEWS World Business Report 20240709



more now on the uk where prime minister borisjohnson has warned he won't hesitate to introduce further covid measures in england, as cases of the omicron variant continue to surge ahead of christmas. over 91,000 covid cases were reported across the uk on monday, the second highest daily total on record. the government's scientific advisers say new restrictions may be required very soon. and some in the business world are preparing for further measures and calling for urgent action. over 100,000 retail — hospitality and leisure businesses have called on government to provide more financial support. joining me now isjeevun sandher — an economist at kings college of london. welcome college of london. to the programme. the hospitality firms are calling for immediate help from the government, with only a few days left before christmas, is it too late? many in that sector are saying we are in a lockdown already. we very much. let's be clear, it is absolutely everybody�*s interest that pubs, hotels and restaurants revive this winter. they are the third largest employer in the country. but really, ever since omicron has started spreading like wildfire people have been reducing their social interaction, they don't want to catch covid, they want to go home for christmas and thatis to go home for christmas and that is the reason why we are seeing such huge falls in sales. some pubs in london, falls in sales of up to 70%. we also know 10,000 firms are on the brink of bank —— and crops we are practically in a lockdown and therefore they also need practical support as well, but so far we have received nothing. we have heard nothing. whereas the government and where is the chancellor decided they actually need a proper support to get through this practical lockdown and at the very least what we had last winter, a full business relief as well as a targeted furlough system as well.— system as well. the treasury and rishi _ system as well. the treasury and rishi sunak _ system as well. the treasury and rishi sunak would - system as well. the treasury and rishi sunak would be - system as well. the treasury l and rishi sunak would be quick to respond to that and say look, we do have measures in —— in place currently that help hospitality reduce their 80 rates, extensions on business loans and repayments, put back et cetera, and those kind of measures, what else is required?— measures, what else is reuuired? v a' ., required? let's take what the treasury is — required? let's take what the treasury is saying, _ required? let's take what the treasury is saying, let's - required? let's take what the treasury is saying, let's take | treasury is saying, let's take the three particular supports they say is available. reduce they say is available. reduce the 80 rates, that's great, but if no—one is coming to the door that doesn't really help you having a lower sales tax. there are some rates relief but you still have to pay a third. finally, £250 million lockdown grant available for england, that is to spread across every single pub, hotel and restaurant. it is only worth about £3000 each for the entire winter and that is less than the takings very small community pub in a week so it is clearly not enough support and we actually have at least what we had last winter, some kind of targeted furlough as well as grants for those firms that really can't operate. thank you so much for being on the programme and explaining the programme and explaining the situation. needless to say, there is so much detail on our website and any updates on the restrictions imposed by the government. to turkey now, where the country's currency — the lira — has surged 20% after president erdogan announced new measures to support the currency. he also promised to continue cutting interest rates, despite rising prices in the country. the official inflation rate is now at 21% but could be much higher in reality, leaving businesses and people struggling to pay bills. victoria craig reports from istanbul. if you want to end —— understand the currency and inflation in turkey the best way to look is the kiosks that you can find it very terminals, especially imports at this one. this is a traditional breakfast staple, commuters buy them on the way to the ferry and on the way to the train and sometimes you pair it with cheese, the cost of this has risen 40% in the last month alone which gives you an idea of the depreciation of the value of the money in everyone's pocket. we used to run this business with 100% sales. now we are at 40- 50% at with 100% sales. now we are at 40— 50% at most. to discuss the challenges facing turkey in more detail. joining me now is jason tuvey, who's the senior emerging markets economist at capital economics. good morning to you, jason. can you explain in more detail what president erdogan announced that because the leera to jump by some 21%? —— lira. that because the leera to “ump by some 21%? -- lira.�* that because the leera to “ump by some 21%? -- lira. came out last night— by some 21%? -- lira. came out last night and — by some 21%? -- lira. came out last night and continued - by some 21%? -- lira. came out last night and continued to - last night and continued to defend his unorthodox cutting to bring down inflation but the key policy was actually that he announced a new scheme whereby it incentivised his holders of leera deposits and saying that they will be protected in the event that the leera continues to depreciate. i.e., they will be compensated —— lira. they will be compensated by the lira falling against the dollar. but the lira must _ falling against the dollar. but the lira must be having a field day right now. how will the turkish government funds that? the details are still quite light on the ground but from what we understand, treasury well, the finance ministry will compensate depositors for any loss that they suffered due to the falls in the lira. they will be a physical cost although that comes against a backdrop of what is for now at least quite strong fiscal decision in turkey. what about si . ns of decision in turkey. what about signs of stress _ decision in turkey. what about signs of stress elsewhere - decision in turkey. what about signs of stress elsewhere in i signs of stress elsewhere in the economy? i understand you have seen some in the banking sector which is a real worry. this is a difficult part in turkey. some banks have some large foreign currency debt as well. we have seen banks borrowing costs from wholesale markets increase. we have seen foreign currency deposits and even the banking system, possibly people stopping dollars under their mattress, for example. these are the key things to keep an eye on and this new scheme is designed to try and keep one deposit within the system and two, try to incentivise people to shift their deposits from dollars back into lira.— back into lira. but that will take some _ back into lira. but that will take some persuasion - back into lira. but that will. take some persuasion given back into lira. but that will - take some persuasion given the situation. in terms of president erdogan, do you think he will keep cutting interest rates? 0r he will keep cutting interest rates? or call on his central bank to do so? fin rates? or call on his central bank to do so?— rates? or call on his central bank to do so? on sunday, we saw him continue _ bank to do so? on sunday, we saw him continue to _ bank to do so? on sunday, we saw him continue to say - bank to do so? on sunday, we saw him continue to say that l bank to do so? on sunday, we | saw him continue to say that he will not back down. he doesn't know any other way to operate. he is leaning on islamic ideology here which goes strongly with his support base so for now, i suspect he will continue to do this as long as possible. continue to do this as long as ossible. ~ continue to do this as long as possible-— continue to do this as long as ossible. ~ ~ , ., . possible. we will keep a close e e. possible. we will keep a close eye- jason. — possible. we will keep a close eye. jason, thank _ possible. we will keep a close eye. jason, thank you. - let's get some of the day's other news. the world's richest person — elon musk — says he will pay 11 billion dollars in tax for this year. musk has been embroiled in a public debate on social media over how much tax he pays. earlier this week, democratic senator elizabeth warren tweeted that mr musk should stop "freeloading off everyone else". the uk supreme court has prevented venezuelan president nicolas maduro from accessing $1 billion worth of gold stored in the bank of england. maduro says the cash is to fight covid—19, which has hit venezuela hard. the ruling means only opposition leaderjuan guaido can decide what happens to the gold. to china now and one of the country's top live—streamers has been slapped with a 210 million dollar tax evasion fine. huang wei, known as viya, is an internet celebrity with tens of millions of followers. authorities accuse her of hiding her personal income as well as other financial offences between 2019 and 2020. joining me now is mariko 0i from our singapore bureau. what is going on? a hefty fine. vi o what is going on? a hefty fine. vi 0 was what is going on? a hefty fine. viyo was known _ what is going on? a hefty fine. viyo was known as _ what is going on? a hefty fine. viyo was known as the - what is going on? a hefty fine. viyo was known as the country| viyo was known as the country does make a live streaming queen, benefiting from a rapid growth of online shopping in the country and she sold everything from noodles to a commercial rocket launch on the online shopping platform, as she had 18 million followers on china's twitter. a huge platform has meant that she was named on time magazine's list of 100 influentialfigures in 2021. the tide has turned against her rather quickly in light of this huge fine for tax evasion which she has now apologised for. her account has apologised for. her account has a disappeared and one of the top hashtags on we bow is hashtag viyo completely blocked online. —— weibo because of china has the biggest live streaming industry with more than 400 million video bloggers. beijing has been clamping down on last month online influences were from recommending stocks online and some celebrities were also given warnings over live streaming content and two other notable life streamers were also handed fines and had their weibo accounts removed. so you can see that this industry is now among many targets of beijing which has been clamping down on anything from tech giants to the entertainment sector. . ~' , ., giants to the entertainment sector. ., sector. thank you, mariko oi. stay with _ sector. thank you, mariko oi. stay with us _ sector. thank you, mariko oi. stay with us on _ sector. thank you, mariko oi. stay with us on bbc— sector. thank you, mariko oi. stay with us on bbc news. i the game must go on. the premier league decides to continue with games over the festive season, despite calls for a break! the world of music has been paying tribute to george michael, who's died from suspected heart failure at the age of 53. he sold well over 100 million albums in a career spanning more than three decades. this the united states' troops have been trying to overthrow the dictatorship of general manuel noriega. the pentagon says it's failed in its principle objective to capture noriega and take him to the united states to face drugs charges. the hammer and sickle| was hastily taken away. m its place. — the russian flag was hoisted over what is now— no longer the soviet union, but the commonwealth of independent states. | day broke slowly over lockerbie, over the cockpit of pan am's maid of the seas, nosedown in the soft earth. you could see what happens when a plane eight storeys high, a football pitch wide falls from 30,000 feet. christmas has returned to albania after a communist ban lasting more than 20 years. thousands went to midnight mass in the town of shkoder, where there were anti—communist riots ten days ago. this is bbc world news, the latest headlines: president biden is due to outline new plans to tackle 0micron, as the variant sweeps across the us, making up nearly three—quarters of new cases. boris johnson faces calls for clarity over possible new covid restrictions as british businesses fear finances could be hit over the christmas period. this time last year, we were all looking forward to 2021 with optimism over a vaccine for the virus. however, we have a more depressing realisation that the virus is not going to disappear anytime soon, that's according to global trend—spotter marian salzman. her predictions highlight the shift in both workplace and education settings and how technology and social media companies will be viewed with more trepidation than ever before. marian joins me now. she is here to illustrate and discuss and further unpack her thoughts on the year ahead. he was saying that there will be a shift in the workplace and in education? we fear right now that there will be a lockdown. i think what we will have to expect is hybrid living for some time to come. lockdown or not depending on where you are and i am in new york at the moment and we are anticipating a lockdown. we are seeing kids who are not taking exams are better universities because it all happened so suddenly and it reinforces the fact that we will have to buy into a hybrid education model. we also see businesses and workplaces shot down and become much stricter over vaccine and the pushback of i have my freedoms don't tell me to vaccinate if i don't want to. so i think we see a lot of dissension and a lot of mental health questions where people just do not feel good. it is almost two years of this. and as you say, winding the clock back one year and we were all, i would argue, more optimistic because the vaccines had just come to the fore and were being approved in countries across the world. but now, one year on, would you argue that covid fatigue is weighing heavily?- argue that covid fatigue is weighing heavily? covid fatigue is weighing _ weighing heavily? covid fatigue is weighing heavily, _ weighing heavily? covid fatigue is weighing heavily, it - weighing heavily? covid fatigue is weighing heavily, it is - is weighing heavily, it is almost a collective global ptsd and people are really suffering and people are really suffering and suffering over the recognition that they are going to keep suffering for several more months to come, if not for longer. i also think that many of our rituals have now been taken away from us. that sense of christmas, easter, in my country, thanksgiving. and after you lose these things for after you lose these things for a few years in a row you need to create new rituals or you will get into a deep funk about what you have given up. in terms of predictions for 2022, for business, for the economy, what is on your mind? aha, for business, for the economy, what is on your mind?- what is on your mind? a lot of --eole what is on your mind? a lot of peeple are _ what is on your mind? a lot of people are thinking _ what is on your mind? a lot of people are thinking about i what is on your mind? a lot of people are thinking about the | people are thinking about the great quit, and many people in lower—level jobs who great quit, and many people in lower—leveljobs who did not feel they had an option, so many of those jobs have opened up many of those jobs have opened up because there has been such a negative idea about working on the front line and people prefer to work from home and work where can be safe. i think you see a great deal of emphasis placed on up skilling. people thinking that they should use this time to develop skills to ensure their marketability when they are ready to go back to work and know what they want to be going to do. i think you see a whole lot more stay—at—home and people thinking about what they want their homes to be. even contemplating total relocations of jobs, contemplating total relocations ofjobs, relocation of family life, they want to be in ten minute or 20 minutes cities where they can get everything done on a bicycle and not necessarily have to be in a larger urban environment. we are seeing a lot more emphasis on dream, i want to be around nature, i want to be around trees, i want to be outdoors but not on top of other people. thank you for sharing your thoughts on the year ahead. it has been interesting. in america, 2021 has been the year of the great resignation. otherwise known as the big quit. millions of americans are leaving theirjobs. over 4 million every month, currently. it seems the pandemic has led many to rethink what they need and want from a job. michelle fleury travelled to kentucky — where people are quitting at a higher rate than in many other states. alex carter hid his breaking point last year. the former bank manager grew tired of dealing with bad behaviourfrom customers during the pandemic. the attitudes of the people who come in and do not want to follow the rules and want to yell at you, you can only take so much of that.— so much of that. alex started lookin: so much of that. alex started looking for— so much of that. alex started looking for a _ so much of that. alex started looking for a job _ so much of that. alex started looking for a job that - so much of that. alex started looking for a job that was i so much of that. alex started looking for a job that was notj looking for a job that was not customer facing. looking for a job that was not customerfacing. he got looking for a job that was not customer facing. he got an offerfrom a local offer from a local manufacturing company here in kentucky. manufacturing company here in kentuc . , , kentucky. this was absolutely the best career— kentucky. this was absolutely the best career move - kentucky. this was absolutely the best career move for i kentucky. this was absolutely the best career move for me i kentucky. this was absolutely i the best career move for me and my family. the best career move for me and my family-— my family. and not alone. in october more _ my family. and not alone. in october more than - my family. and not alone. in october more than 4 - my family. and not alone. in october more than 4 million | 0ctober more than 4 million americans quit theirjobs after the trend economists call the great resignation. i could not be happier. and it is notjust millennial�*s. be happier. and it is not 'ust millennial's.i millennial's. alex's father is switching — millennial's. alex's father is switching jobs _ millennial's. alex's father is switching jobs as _ millennial's. alex's father is switching jobs as well. i i millennial's. alex's father isj switching jobs as well. i saw how happy alex was and told him to keep his eyes open. iclark how happy alex was and told him to keep his eyes open.— to keep his eyes open. clark is an economist _ to keep his eyes open. clark is an economist and _ to keep his eyes open. clark is an economist and according i to keep his eyes open. clark is an economist and according to| an economist and according to him, the great resignation is also the great rotation as people take advantage of the tight labour market. it is people take advantage of the tight labour market.- tight labour market. it is not siml tight labour market. it is not simply the — tight labour market. it is not simply the people _ tight labour market. it is not simply the people are i simply the people are resigning. we look at all the data and what we seem to be seeing is that people are turning over and going to new jobs and it is more of a turnover situation. josh quick to start his — turnover situation. josh quick to start his own _ turnover situation. josh quick to start his own business. i turnover situation. josh quick| to start his own business. the former forklift driver recently launched a taxi service in kentucky. i launched a taxi service in kentucky-— launched a taxi service in kentuc . ., ., ., kentucky. i look forward to the date verses — kentucky. i look forward to the date verses during _ kentucky. i look forward to the date verses during going i kentucky. i look forward to the date verses during going into l date verses during going into work because i don't consider what i do work.— what i do work. while many eo - le what i do work. while many people have _ what i do work. while many people have jobs _ what i do work. while many people have jobs for i what i do work. while many people have jobs for more i what i do work. while many i people have jobs for more money people havejobs for more money orflexibility, people havejobs for more money or flexibility, josh's reasons were more personal. i or flexibility, josh's reasons were more personal.- or flexibility, josh's reasons were more personal. i was at work and — were more personal. i was at work and i — were more personal. i was at work and i couldn't _ were more personal. i was at work and i couldn't leave i were more personal. i was at work and i couldn't leave my| work and i couldn't leave my father had cancer. and at that point i was, you know what? i parked my fork lists that make forklift, got off and left. and then my grandmother passed my grandfather... sorry.— grandfather... sorry. sorry, i do not mean _ grandfather... sorry. sorry, i do not mean to... _ grandfather... sorry. sorry, i do not mean to... i - grandfather... sorry. sorry, i do not mean to... ijust- grandfather... sorry. sorry, i. do not mean to... ijust needed do not mean to... i 'ust needed to no to do not mean to... i 'ust needed to go to my h do not mean to... ijust needed to go to my grandfather's i to go to my grandfather's funeral. ,, ., _ to go to my grandfather's funeral. ,, ., , . funeral. surrounded by death and illness _ funeral. surrounded by death and illness during _ funeral. surrounded by death and illness during the - and illness during the pandemic, like manyjust pandemic, like many just started pandemic, like manyjust started to feel that life is passing him by. how do you feel today? passing him by. how do you feel toda ? ., , ., today? today i feel liberated. there are _ today? today i feel liberated. there are so _ today? today i feel liberated. there are so much _ today? today i feel liberated. there are so much more i today? today i feel liberated. there are so much more to i today? today i feel liberated. l there are so much more to life than a big house or having that career. $5 than a big house or having that career. �* , ., , than a big house or having that career. ~ , . , . , career. as in many cultures, in america a _ career. as in many cultures, in america a job _ career. as in many cultures, in america a job is _ career. as in many cultures, in america a job is more - career. as in many cultures, in america a job is more than i career. as in many cultures, in| america a job is more than just america a job is more thanjust a wage. it is a source of self—esteem and status. but the pandemic is altering this country's obsession with work, changing how some people think about life and work and what they want from both. now let's talk about football, because the english premier league has decided to continue with its congested fixture list over the festive period, despite calls from players and managers for a immediate break. matches will continue at full capacity, despite rising 0micron cases across the uk. the festive period usually attracts the highest tv viewing figures over the season. craig erlam is senior market analyst at 0anda. if this just if thisjust all if this just all about the money, the premier league cannot afford to not deliver? i think it is partially about the money. many clubs are still recovering from the impact of the last two years, the second half of the 19 — 20 season cost up half of the 19 — 20 season cost up to half £1 billion and that is a huge sum. and then 2020— 2021 with zero match day revenue. and that is not even taking into consideration commercial. so these are enormous sums and when you look further down the footballing pyramid you see the impact overall. the other factor as well of the festive period is that there are a large number of fixtures for these clubs and they build squads in order to be able to compete in these times and rotate their players so they can look after their health and well—being. but if a number of players around through injury they will be forced to use players who have to play throughout the period and the injury risk to them from, aside from being in close contact with people who may have covid, it becomes increased. so many of the clubs are also looking after the health and well—being of their players, aside from the financial side.— players, aside from the financial side. the premier lea . ue financial side. the premier league have _ financial side. the premier league have confirmed i financial side. the premier. league have confirmed they financial side. the premier- league have confirmed they have 90 new positive cases and have done thousands of tests in the last week or so. and this figure was more than double the 42 cases last week. so it is a given, isn't it, that this will spread rapidly among players if they keep playing. spread rapidly among players if they keep playing-— they keep playing. exactly. man of they keep playing. exactly. many of us _ they keep playing. exactly. many of us can _ they keep playing. exactly. many of us can work i they keep playing. exactly. many of us can work from | they keep playing. exactly. i many of us can work from home when we see an outbreak or when we see a situation where restrictions are being imposed but it is quite the opposite in certain cases in certain areas of employment and sport is one of employment and sport is one of them. you are in close contact all the time and it is impossible for them not to be whether they are travelling on coaches changing rooms, training, in the gym every day. it is impossible for them to not being close contact if the game is going to continue. and while that is unavoidable, which is why we see this kind of testing the clubs and players want to continue to play, one of the things that is avoidable is congestion fixtures. 0ne avoidable is congestion fixtures. one thing they do have control over is the fixture schedule to ensure that they have reduced numbers and can continue to play notjust without risking injury but also produce football at a high level which is what everyone ultimately wants to watch. clearly we are not at a point yet where that is easy because we are still at a time when it is notjust the christmas schedule that is packed, it is the overall schedule throughout the overall schedule throughout the entire season fitting and everything ahead of further competition next year. so that is also on the minds of these clubs. ., ~' , ., is also on the minds of these clubs. . ,, , ., ., is also on the minds of these clubs. . ~' i., ., i. clubs. thank you for your time aaain clubs. thank you for your time again early _ clubs. thank you for your time again early this _ clubs. thank you for your time again early this morning. i clubs. thank you for your time | again early this morning. thank you as well for your company and we will see you soon. hello there. it's been a cloudy and chilly start to the week. things will change. from midweek, we'll start to see atlantic air coming our way. that means temperatures will be rising, but we're also going to find some rain. but what about christmas? well, i'll try and answer that question later on. we start, though, cold in many places on tuesday morning, particularly in the clearer skies in scotland, with a frost in the north. we could see some pockets of frost across some western parts of england and wales, but the prospects of some sunshine during tuesday, which will be good news on what is the shortest day of the year. it's the winter solstice. we do have some sunshine across northern parts of scotland, some sunshine at times coming through across wales and western england, but more cloud further east. still that blanket of cloud in northern ireland, southern scotland that will push its way into the central belt and make it feel quite chilly here. temperatures on the whole similar to what we had on monday, and near—normal, really, for this time of the year. but it's from wednesday that the weather starts to change because high pressure that's kept it quiet for so long is moving away. and instead, we've got a big low out in the atlantic. that's going to push bands of rain our way. but we start wednesday with a widespread frost in scotland, england and wales. some early sunshine, but it clouds over from the west. the wind starts to pick up. we've got this band of rain mainly affecting northern ireland, pushing into wales and south—west england and then into parts of scotland later on, bringing in some milder airfor western areas. but for many parts of the country, it's still another chilly day. that band of wet weather moves northwards and eastwards overnight, and then with low pressure still out to the west, another band of rain sweeps around that as well. so we're going to find some wet weather moving northwards and eastwards again during thursday. could stay wet for most of the day across the northern half of scotland. elsewhere, that rain does clear through. we get some sunshine following on behind. and with a south—westerly wind, just look at what it does for the temperatures — widely in double figures across northern ireland, england and wales. as the winds fall light, though, overnight, and if you're going to be travelling into christmas eve, it could be misty with some patches of fog around in the morning. and then we have that battle between the milder air and colder air that's in the north. now, for many, it looks like we'll stay in the milder air for christmas day, but if there is going to be a white christmas, at the moment, it only looks likely in northern parts of scotland. good morning. welcome to breakfast with nina warhurst and dan walker. 0ur headlines today... hospitality calls for clarity from the government on covid restrictions, as the prime minister urges "caution" in the run—up to christmas. in wales, spectators are banned from all sporting events from boxing day to try and control the spread. well your parcels and cards arrive in time for christmas day? after royal mail once of delays in some areas, all the important dates you need to know ahead of the big day. ajury in new york begins deliberations in the sex trafficking

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Transcripts For BBCNEWS World Business Report 20240709 : Comparemela.com

Transcripts For BBCNEWS World Business Report 20240709

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more now on the uk where prime minister borisjohnson has warned he won't hesitate to introduce further covid measures in england, as cases of the omicron variant continue to surge ahead of christmas. over 91,000 covid cases were reported across the uk on monday, the second highest daily total on record. the government's scientific advisers say new restrictions may be required very soon. and some in the business world are preparing for further measures and calling for urgent action. over 100,000 retail — hospitality and leisure businesses have called on government to provide more financial support. joining me now isjeevun sandher — an economist at kings college of london. welcome college of london. to the programme. the hospitality firms are calling for immediate help from the government, with only a few days left before christmas, is it too late? many in that sector are saying we are in a lockdown already. we very much. let's be clear, it is absolutely everybody�*s interest that pubs, hotels and restaurants revive this winter. they are the third largest employer in the country. but really, ever since omicron has started spreading like wildfire people have been reducing their social interaction, they don't want to catch covid, they want to go home for christmas and thatis to go home for christmas and that is the reason why we are seeing such huge falls in sales. some pubs in london, falls in sales of up to 70%. we also know 10,000 firms are on the brink of bank —— and crops we are practically in a lockdown and therefore they also need practical support as well, but so far we have received nothing. we have heard nothing. whereas the government and where is the chancellor decided they actually need a proper support to get through this practical lockdown and at the very least what we had last winter, a full business relief as well as a targeted furlough system as well.— system as well. the treasury and rishi _ system as well. the treasury and rishi sunak _ system as well. the treasury and rishi sunak would - system as well. the treasury and rishi sunak would be - system as well. the treasury l and rishi sunak would be quick to respond to that and say look, we do have measures in —— in place currently that help hospitality reduce their 80 rates, extensions on business loans and repayments, put back et cetera, and those kind of measures, what else is required?— measures, what else is reuuired? v a' ., required? let's take what the treasury is — required? let's take what the treasury is saying, _ required? let's take what the treasury is saying, let's - required? let's take what the treasury is saying, let's take | treasury is saying, let's take the three particular supports they say is available. reduce they say is available. reduce the 80 rates, that's great, but if no—one is coming to the door that doesn't really help you having a lower sales tax. there are some rates relief but you still have to pay a third. finally, £250 million lockdown grant available for england, that is to spread across every single pub, hotel and restaurant. it is only worth about £3000 each for the entire winter and that is less than the takings very small community pub in a week so it is clearly not enough support and we actually have at least what we had last winter, some kind of targeted furlough as well as grants for those firms that really can't operate. thank you so much for being on the programme and explaining the programme and explaining the situation. needless to say, there is so much detail on our website and any updates on the restrictions imposed by the government. to turkey now, where the country's currency — the lira — has surged 20% after president erdogan announced new measures to support the currency. he also promised to continue cutting interest rates, despite rising prices in the country. the official inflation rate is now at 21% but could be much higher in reality, leaving businesses and people struggling to pay bills. victoria craig reports from istanbul. if you want to end —— understand the currency and inflation in turkey the best way to look is the kiosks that you can find it very terminals, especially imports at this one. this is a traditional breakfast staple, commuters buy them on the way to the ferry and on the way to the train and sometimes you pair it with cheese, the cost of this has risen 40% in the last month alone which gives you an idea of the depreciation of the value of the money in everyone's pocket. we used to run this business with 100% sales. now we are at 40- 50% at with 100% sales. now we are at 40— 50% at most. to discuss the challenges facing turkey in more detail. joining me now is jason tuvey, who's the senior emerging markets economist at capital economics. good morning to you, jason. can you explain in more detail what president erdogan announced that because the leera to jump by some 21%? —— lira. that because the leera to “ump by some 21%? -- lira.�* that because the leera to “ump by some 21%? -- lira. came out last night— by some 21%? -- lira. came out last night and — by some 21%? -- lira. came out last night and continued - by some 21%? -- lira. came out last night and continued to - last night and continued to defend his unorthodox cutting to bring down inflation but the key policy was actually that he announced a new scheme whereby it incentivised his holders of leera deposits and saying that they will be protected in the event that the leera continues to depreciate. i.e., they will be compensated —— lira. they will be compensated by the lira falling against the dollar. but the lira must _ falling against the dollar. but the lira must be having a field day right now. how will the turkish government funds that? the details are still quite light on the ground but from what we understand, treasury well, the finance ministry will compensate depositors for any loss that they suffered due to the falls in the lira. they will be a physical cost although that comes against a backdrop of what is for now at least quite strong fiscal decision in turkey. what about si . ns of decision in turkey. what about signs of stress _ decision in turkey. what about signs of stress elsewhere - decision in turkey. what about signs of stress elsewhere in i signs of stress elsewhere in the economy? i understand you have seen some in the banking sector which is a real worry. this is a difficult part in turkey. some banks have some large foreign currency debt as well. we have seen banks borrowing costs from wholesale markets increase. we have seen foreign currency deposits and even the banking system, possibly people stopping dollars under their mattress, for example. these are the key things to keep an eye on and this new scheme is designed to try and keep one deposit within the system and two, try to incentivise people to shift their deposits from dollars back into lira.— back into lira. but that will take some _ back into lira. but that will take some persuasion - back into lira. but that will. take some persuasion given back into lira. but that will - take some persuasion given the situation. in terms of president erdogan, do you think he will keep cutting interest rates? 0r he will keep cutting interest rates? or call on his central bank to do so? fin rates? or call on his central bank to do so?— rates? or call on his central bank to do so? on sunday, we saw him continue _ bank to do so? on sunday, we saw him continue to _ bank to do so? on sunday, we saw him continue to say - bank to do so? on sunday, we saw him continue to say that l bank to do so? on sunday, we | saw him continue to say that he will not back down. he doesn't know any other way to operate. he is leaning on islamic ideology here which goes strongly with his support base so for now, i suspect he will continue to do this as long as possible. continue to do this as long as ossible. ~ continue to do this as long as possible-— continue to do this as long as ossible. ~ ~ , ., . possible. we will keep a close e e. possible. we will keep a close eye- jason. — possible. we will keep a close eye. jason, thank _ possible. we will keep a close eye. jason, thank you. - let's get some of the day's other news. the world's richest person — elon musk — says he will pay 11 billion dollars in tax for this year. musk has been embroiled in a public debate on social media over how much tax he pays. earlier this week, democratic senator elizabeth warren tweeted that mr musk should stop "freeloading off everyone else". the uk supreme court has prevented venezuelan president nicolas maduro from accessing $1 billion worth of gold stored in the bank of england. maduro says the cash is to fight covid—19, which has hit venezuela hard. the ruling means only opposition leaderjuan guaido can decide what happens to the gold. to china now and one of the country's top live—streamers has been slapped with a 210 million dollar tax evasion fine. huang wei, known as viya, is an internet celebrity with tens of millions of followers. authorities accuse her of hiding her personal income as well as other financial offences between 2019 and 2020. joining me now is mariko 0i from our singapore bureau. what is going on? a hefty fine. vi o what is going on? a hefty fine. vi 0 was what is going on? a hefty fine. viyo was known _ what is going on? a hefty fine. viyo was known as _ what is going on? a hefty fine. viyo was known as the - what is going on? a hefty fine. viyo was known as the country| viyo was known as the country does make a live streaming queen, benefiting from a rapid growth of online shopping in the country and she sold everything from noodles to a commercial rocket launch on the online shopping platform, as she had 18 million followers on china's twitter. a huge platform has meant that she was named on time magazine's list of 100 influentialfigures in 2021. the tide has turned against her rather quickly in light of this huge fine for tax evasion which she has now apologised for. her account has apologised for. her account has a disappeared and one of the top hashtags on we bow is hashtag viyo completely blocked online. —— weibo because of china has the biggest live streaming industry with more than 400 million video bloggers. beijing has been clamping down on last month online influences were from recommending stocks online and some celebrities were also given warnings over live streaming content and two other notable life streamers were also handed fines and had their weibo accounts removed. so you can see that this industry is now among many targets of beijing which has been clamping down on anything from tech giants to the entertainment sector. . ~' , ., giants to the entertainment sector. ., sector. thank you, mariko oi. stay with _ sector. thank you, mariko oi. stay with us _ sector. thank you, mariko oi. stay with us on _ sector. thank you, mariko oi. stay with us on bbc— sector. thank you, mariko oi. stay with us on bbc news. i the game must go on. the premier league decides to continue with games over the festive season, despite calls for a break! the world of music has been paying tribute to george michael, who's died from suspected heart failure at the age of 53. he sold well over 100 million albums in a career spanning more than three decades. this the united states' troops have been trying to overthrow the dictatorship of general manuel noriega. the pentagon says it's failed in its principle objective to capture noriega and take him to the united states to face drugs charges. the hammer and sickle| was hastily taken away. m its place. — the russian flag was hoisted over what is now— no longer the soviet union, but the commonwealth of independent states. | day broke slowly over lockerbie, over the cockpit of pan am's maid of the seas, nosedown in the soft earth. you could see what happens when a plane eight storeys high, a football pitch wide falls from 30,000 feet. christmas has returned to albania after a communist ban lasting more than 20 years. thousands went to midnight mass in the town of shkoder, where there were anti—communist riots ten days ago. this is bbc world news, the latest headlines: president biden is due to outline new plans to tackle 0micron, as the variant sweeps across the us, making up nearly three—quarters of new cases. boris johnson faces calls for clarity over possible new covid restrictions as british businesses fear finances could be hit over the christmas period. this time last year, we were all looking forward to 2021 with optimism over a vaccine for the virus. however, we have a more depressing realisation that the virus is not going to disappear anytime soon, that's according to global trend—spotter marian salzman. her predictions highlight the shift in both workplace and education settings and how technology and social media companies will be viewed with more trepidation than ever before. marian joins me now. she is here to illustrate and discuss and further unpack her thoughts on the year ahead. he was saying that there will be a shift in the workplace and in education? we fear right now that there will be a lockdown. i think what we will have to expect is hybrid living for some time to come. lockdown or not depending on where you are and i am in new york at the moment and we are anticipating a lockdown. we are seeing kids who are not taking exams are better universities because it all happened so suddenly and it reinforces the fact that we will have to buy into a hybrid education model. we also see businesses and workplaces shot down and become much stricter over vaccine and the pushback of i have my freedoms don't tell me to vaccinate if i don't want to. so i think we see a lot of dissension and a lot of mental health questions where people just do not feel good. it is almost two years of this. and as you say, winding the clock back one year and we were all, i would argue, more optimistic because the vaccines had just come to the fore and were being approved in countries across the world. but now, one year on, would you argue that covid fatigue is weighing heavily?- argue that covid fatigue is weighing heavily? covid fatigue is weighing _ weighing heavily? covid fatigue is weighing heavily, _ weighing heavily? covid fatigue is weighing heavily, it - weighing heavily? covid fatigue is weighing heavily, it is - is weighing heavily, it is almost a collective global ptsd and people are really suffering and people are really suffering and suffering over the recognition that they are going to keep suffering for several more months to come, if not for longer. i also think that many of our rituals have now been taken away from us. that sense of christmas, easter, in my country, thanksgiving. and after you lose these things for after you lose these things for a few years in a row you need to create new rituals or you will get into a deep funk about what you have given up. in terms of predictions for 2022, for business, for the economy, what is on your mind? aha, for business, for the economy, what is on your mind?- what is on your mind? a lot of --eole what is on your mind? a lot of peeple are _ what is on your mind? a lot of people are thinking _ what is on your mind? a lot of people are thinking about i what is on your mind? a lot of people are thinking about the | people are thinking about the great quit, and many people in lower—level jobs who great quit, and many people in lower—leveljobs who did not feel they had an option, so many of those jobs have opened up many of those jobs have opened up because there has been such a negative idea about working on the front line and people prefer to work from home and work where can be safe. i think you see a great deal of emphasis placed on up skilling. people thinking that they should use this time to develop skills to ensure their marketability when they are ready to go back to work and know what they want to be going to do. i think you see a whole lot more stay—at—home and people thinking about what they want their homes to be. even contemplating total relocations of jobs, contemplating total relocations ofjobs, relocation of family life, they want to be in ten minute or 20 minutes cities where they can get everything done on a bicycle and not necessarily have to be in a larger urban environment. we are seeing a lot more emphasis on dream, i want to be around nature, i want to be around trees, i want to be outdoors but not on top of other people. thank you for sharing your thoughts on the year ahead. it has been interesting. in america, 2021 has been the year of the great resignation. otherwise known as the big quit. millions of americans are leaving theirjobs. over 4 million every month, currently. it seems the pandemic has led many to rethink what they need and want from a job. michelle fleury travelled to kentucky — where people are quitting at a higher rate than in many other states. alex carter hid his breaking point last year. the former bank manager grew tired of dealing with bad behaviourfrom customers during the pandemic. the attitudes of the people who come in and do not want to follow the rules and want to yell at you, you can only take so much of that.— so much of that. alex started lookin: so much of that. alex started looking for— so much of that. alex started looking for a _ so much of that. alex started looking for a job _ so much of that. alex started looking for a job that - so much of that. alex started looking for a job that was i so much of that. alex started looking for a job that was notj looking for a job that was not customer facing. looking for a job that was not customerfacing. he got looking for a job that was not customer facing. he got an offerfrom a local offer from a local manufacturing company here in kentucky. manufacturing company here in kentuc . , , kentucky. this was absolutely the best career— kentucky. this was absolutely the best career move - kentucky. this was absolutely the best career move for i kentucky. this was absolutely the best career move for me i kentucky. this was absolutely i the best career move for me and my family. the best career move for me and my family-— my family. and not alone. in october more _ my family. and not alone. in october more than - my family. and not alone. in october more than 4 - my family. and not alone. in october more than 4 million | 0ctober more than 4 million americans quit theirjobs after the trend economists call the great resignation. i could not be happier. and it is notjust millennial�*s. be happier. and it is not 'ust millennial's.i millennial's. alex's father is switching — millennial's. alex's father is switching jobs _ millennial's. alex's father is switching jobs as _ millennial's. alex's father is switching jobs as well. i i millennial's. alex's father isj switching jobs as well. i saw how happy alex was and told him to keep his eyes open. iclark how happy alex was and told him to keep his eyes open.— to keep his eyes open. clark is an economist _ to keep his eyes open. clark is an economist and _ to keep his eyes open. clark is an economist and according i to keep his eyes open. clark is an economist and according to| an economist and according to him, the great resignation is also the great rotation as people take advantage of the tight labour market. it is people take advantage of the tight labour market.- tight labour market. it is not siml tight labour market. it is not simply the — tight labour market. it is not simply the people _ tight labour market. it is not simply the people are i simply the people are resigning. we look at all the data and what we seem to be seeing is that people are turning over and going to new jobs and it is more of a turnover situation. josh quick to start his — turnover situation. josh quick to start his own _ turnover situation. josh quick to start his own business. i turnover situation. josh quick| to start his own business. the former forklift driver recently launched a taxi service in kentucky. i launched a taxi service in kentucky-— launched a taxi service in kentuc . ., ., ., kentucky. i look forward to the date verses — kentucky. i look forward to the date verses during _ kentucky. i look forward to the date verses during going i kentucky. i look forward to the date verses during going into l date verses during going into work because i don't consider what i do work.— what i do work. while many eo - le what i do work. while many people have _ what i do work. while many people have jobs _ what i do work. while many people have jobs for i what i do work. while many people have jobs for more i what i do work. while many i people have jobs for more money people havejobs for more money orflexibility, people havejobs for more money or flexibility, josh's reasons were more personal. i or flexibility, josh's reasons were more personal.- or flexibility, josh's reasons were more personal. i was at work and — were more personal. i was at work and i — were more personal. i was at work and i couldn't _ were more personal. i was at work and i couldn't leave i were more personal. i was at work and i couldn't leave my| work and i couldn't leave my father had cancer. and at that point i was, you know what? i parked my fork lists that make forklift, got off and left. and then my grandmother passed my grandfather... sorry.— grandfather... sorry. sorry, i do not mean _ grandfather... sorry. sorry, i do not mean to... _ grandfather... sorry. sorry, i do not mean to... i - grandfather... sorry. sorry, i do not mean to... ijust- grandfather... sorry. sorry, i. do not mean to... ijust needed do not mean to... i 'ust needed to no to do not mean to... i 'ust needed to go to my h do not mean to... ijust needed to go to my grandfather's i to go to my grandfather's funeral. ,, ., _ to go to my grandfather's funeral. ,, ., , . funeral. surrounded by death and illness _ funeral. surrounded by death and illness during _ funeral. surrounded by death and illness during the - and illness during the pandemic, like manyjust pandemic, like many just started pandemic, like manyjust started to feel that life is passing him by. how do you feel today? passing him by. how do you feel toda ? ., , ., today? today i feel liberated. there are _ today? today i feel liberated. there are so _ today? today i feel liberated. there are so much _ today? today i feel liberated. there are so much more i today? today i feel liberated. there are so much more to i today? today i feel liberated. l there are so much more to life than a big house or having that career. $5 than a big house or having that career. �* , ., , than a big house or having that career. ~ , . , . , career. as in many cultures, in america a _ career. as in many cultures, in america a job _ career. as in many cultures, in america a job is _ career. as in many cultures, in america a job is more - career. as in many cultures, in america a job is more than i career. as in many cultures, in| america a job is more than just america a job is more thanjust a wage. it is a source of self—esteem and status. but the pandemic is altering this country's obsession with work, changing how some people think about life and work and what they want from both. now let's talk about football, because the english premier league has decided to continue with its congested fixture list over the festive period, despite calls from players and managers for a immediate break. matches will continue at full capacity, despite rising 0micron cases across the uk. the festive period usually attracts the highest tv viewing figures over the season. craig erlam is senior market analyst at 0anda. if this just if thisjust all if this just all about the money, the premier league cannot afford to not deliver? i think it is partially about the money. many clubs are still recovering from the impact of the last two years, the second half of the 19 — 20 season cost up half of the 19 — 20 season cost up to half £1 billion and that is a huge sum. and then 2020— 2021 with zero match day revenue. and that is not even taking into consideration commercial. so these are enormous sums and when you look further down the footballing pyramid you see the impact overall. the other factor as well of the festive period is that there are a large number of fixtures for these clubs and they build squads in order to be able to compete in these times and rotate their players so they can look after their health and well—being. but if a number of players around through injury they will be forced to use players who have to play throughout the period and the injury risk to them from, aside from being in close contact with people who may have covid, it becomes increased. so many of the clubs are also looking after the health and well—being of their players, aside from the financial side.— players, aside from the financial side. the premier lea . ue financial side. the premier league have _ financial side. the premier league have confirmed i financial side. the premier. league have confirmed they financial side. the premier- league have confirmed they have 90 new positive cases and have done thousands of tests in the last week or so. and this figure was more than double the 42 cases last week. so it is a given, isn't it, that this will spread rapidly among players if they keep playing. spread rapidly among players if they keep playing-— they keep playing. exactly. man of they keep playing. exactly. many of us _ they keep playing. exactly. many of us can _ they keep playing. exactly. many of us can work i they keep playing. exactly. many of us can work from | they keep playing. exactly. i many of us can work from home when we see an outbreak or when we see a situation where restrictions are being imposed but it is quite the opposite in certain cases in certain areas of employment and sport is one of employment and sport is one of them. you are in close contact all the time and it is impossible for them not to be whether they are travelling on coaches changing rooms, training, in the gym every day. it is impossible for them to not being close contact if the game is going to continue. and while that is unavoidable, which is why we see this kind of testing the clubs and players want to continue to play, one of the things that is avoidable is congestion fixtures. 0ne avoidable is congestion fixtures. one thing they do have control over is the fixture schedule to ensure that they have reduced numbers and can continue to play notjust without risking injury but also produce football at a high level which is what everyone ultimately wants to watch. clearly we are not at a point yet where that is easy because we are still at a time when it is notjust the christmas schedule that is packed, it is the overall schedule throughout the overall schedule throughout the entire season fitting and everything ahead of further competition next year. so that is also on the minds of these clubs. ., ~' , ., is also on the minds of these clubs. . ,, , ., ., is also on the minds of these clubs. . ~' i., ., i. clubs. thank you for your time aaain clubs. thank you for your time again early _ clubs. thank you for your time again early this _ clubs. thank you for your time again early this morning. i clubs. thank you for your time | again early this morning. thank you as well for your company and we will see you soon. hello there. it's been a cloudy and chilly start to the week. things will change. from midweek, we'll start to see atlantic air coming our way. that means temperatures will be rising, but we're also going to find some rain. but what about christmas? well, i'll try and answer that question later on. we start, though, cold in many places on tuesday morning, particularly in the clearer skies in scotland, with a frost in the north. we could see some pockets of frost across some western parts of england and wales, but the prospects of some sunshine during tuesday, which will be good news on what is the shortest day of the year. it's the winter solstice. we do have some sunshine across northern parts of scotland, some sunshine at times coming through across wales and western england, but more cloud further east. still that blanket of cloud in northern ireland, southern scotland that will push its way into the central belt and make it feel quite chilly here. temperatures on the whole similar to what we had on monday, and near—normal, really, for this time of the year. but it's from wednesday that the weather starts to change because high pressure that's kept it quiet for so long is moving away. and instead, we've got a big low out in the atlantic. that's going to push bands of rain our way. but we start wednesday with a widespread frost in scotland, england and wales. some early sunshine, but it clouds over from the west. the wind starts to pick up. we've got this band of rain mainly affecting northern ireland, pushing into wales and south—west england and then into parts of scotland later on, bringing in some milder airfor western areas. but for many parts of the country, it's still another chilly day. that band of wet weather moves northwards and eastwards overnight, and then with low pressure still out to the west, another band of rain sweeps around that as well. so we're going to find some wet weather moving northwards and eastwards again during thursday. could stay wet for most of the day across the northern half of scotland. elsewhere, that rain does clear through. we get some sunshine following on behind. and with a south—westerly wind, just look at what it does for the temperatures — widely in double figures across northern ireland, england and wales. as the winds fall light, though, overnight, and if you're going to be travelling into christmas eve, it could be misty with some patches of fog around in the morning. and then we have that battle between the milder air and colder air that's in the north. now, for many, it looks like we'll stay in the milder air for christmas day, but if there is going to be a white christmas, at the moment, it only looks likely in northern parts of scotland. good morning. welcome to breakfast with nina warhurst and dan walker. 0ur headlines today... hospitality calls for clarity from the government on covid restrictions, as the prime minister urges "caution" in the run—up to christmas. in wales, spectators are banned from all sporting events from boxing day to try and control the spread. well your parcels and cards arrive in time for christmas day? after royal mail once of delays in some areas, all the important dates you need to know ahead of the big day. ajury in new york begins deliberations in the sex trafficking

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