Transcripts For BBCNEWS World Business Report 20240709

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�*an opportunity that we must seize�*. that's how the uk trade secretary has described the prospect of a free trade deal with india. the two sides are hopeful they can sign a multi—billion dollar pact in the coming months, afterformally launching talks in new delhi on thursday. india's a key target in britain's post—brexit trade strategy. it's forecast to become the world's third largest economy by 2050 — but many uk goods currently face steep import taxes — up to 150 per cent. will the price of better market access — be more visas for indians to come to the uk? a question for trade secretary, anne—marie trevelyan. free trade are complex things with many chapters and we will be discussing questions of mobility, shared skills, how we make sure that our young people and those technical skills of many professions are able to work together more closely, relaxing rules and indeed synthesising regulations that it is easier and far as mobility is concerned. the rules we have brought in the points—based immigration system which is really starting to settle in they know that many businesses i've spoken both indian and uk are getting a sense that this has very good set of tools for businesses to use and i'm sure we will have their wishes and look forward to working together.- their wishes and look forward to working together. what would ou sa to working together. what would you say so _ to working together. what would you say so in _ to working together. what would you say so in your _ to working together. what would you say so in your party - to working together. what would you say so in your party who - you say so in your party who are concerned that this could end up meaning there is more immigration from india to the uk and breaks it was all about reducing overall immigration? we wanted to see control of the immigration system is as part of one of the reasons for voting brexit and that is —based system does. we can set the frameworks of talents who want to bring into the uk where there is a shortage of because you want to see those areas grow and that is what we now have. we have a system where we are in control and it does mean controlling the rhythmic closing the borders, we want to bring talent from across the world to work with uk businesses and enhance our economies. this will be about beneficial growth and economic opportunities for uk businesses.- opportunities for uk businesses. . .,~ businesses. india has taken ears of businesses. india has taken years of discussions - businesses. india has taken years of discussions with i years of discussions with australia and yet to sign an fta. as in tones of the year by the free trade agreement for over a decade and nothing the idea you think you can get this one done in a year, isn't it overly optimistic?- one done in a year, isn't it overly optimistic? our prime minister has _ overly optimistic? our prime minister has set _ overly optimistic? our prime minister has set as _ overly optimistic? our prime minister has set as the - minister has set as the challenge last year to getting a conveyance of free trade agreement with something they both want to do it without political leadership we have a huge amount of energy and now, have mandates and our negotiation teams. let's talk to susannah streeter, senior investment analyst at hargreaves lansdown — it's a logical ambition — given the economic potential — but how likely is this to come off? some of the goods here face huge tarrifs — it is going to be very difficult. i expect those negotiations will be pretty tense at times because as was said, everything is on the table including increasing immigration and that is not going to go down well with the tory party faithful. some mps are spoken up and said they don't want immigration from india to replace immigration from the european union because it was such a crunch point in terms of that vote for brexit. however, it is unlikely that india will concede to that extent because if the uk wants admission and a real smashing of so many tariffs the car industry, for the whiskey industry, for the whiskey industry, it is going to have to give something in return. it won't be enoughjust to give something in return. it won't be enough just to slash duty on basmati rice, for example. one of the agricultural products which india would like to see tariffs reduce. i do think these negotiations will be pretty fraught at times. and, yes, it is quite a short timescale, 2023, given the fact union has failed to reach a trade deal with india after long talks. i do think that it is not necessarily going to be an easy win the uk government. it necessarily going to be an easy win the uk government.- win the uk government. it was uuite win the uk government. it was quite telling — win the uk government. it was quite telling in _ win the uk government. it was quite telling in that _ win the uk government. it was quite telling in that clip. - quite telling in that clip. through her answer about the timeframe here. let'sjust timeframe here. let's just suspend timeframe here. let'sjust suspend willingly our disbelief about the timeframe, etc, for the moment, if this does happen, and these tariffs are reduced or disappeared completely, we could be looking here at a completely figuration of our trade. think what it was due to the whiskey industry, for example.— due to the whiskey industry, for example. due to the whiskey industry, forexamle. , ., ., , for example. yes, that would be one of the _ for example. yes, that would be one of the great _ for example. yes, that would be one of the great beneficiaries i one of the great beneficiaries of a trade deal if are slashed from the current point of 115% to 30% is what the industry really hopes that it may achieve that deal. there really would be a game changerfor many companies. india can seem so much whiskey and accounts for 48% of the world's whiskey on the sixth largest importer of scotch so it accounts for one into bottles sold globally so you can see what huge opportunities such a trade deal would present and so a number of industry bodies have been coming out this week and really saying that they really do hope this deal will be reached because even though india is a bigger consumer whiskey, because of these very high tariffs, and puts it out of each of the average consumer opting for locally brewed whiskeys instead. with india's middle—class growing there is expectation that producers could really take advantage of lower tariffs if they do indeed come in. i lower tariffs if they do indeed come in. ~ , ., lower tariffs if they do indeed come in. ~ ,, ., come in. i think you have provided _ come in. i think you have provided us _ come in. i think you have provided us with - come in. i think you have provided us with their - come in. i think you have - provided us with their effects for the day. who knew? a great one for next pub quiz. thank you very much. let's stay with the uk's post—brexit trading arrangements — because talks have resumed with the eu to try and break months of deadlock over northern ireland. under the brexit deal, northern ireland effectively remains part of europe's single market, unlike the rest of the uk. the arrangement was made to prevent the return of a �*hard border�* with ireland — and protect the peace process. but the uk has indefinitely suspended customs checks on goods going to northern ireland — which the eu sees as violating the integrity of the single market. and it has threatened to ditch the deal altogether — risking a trade war with the eu. roger pollen is head of the federation of small businesses in northern ireland — liz truss taken over these talks following the departure of lord frost — what do you want to see? we just want to see the progress that were starting to emerge before christmas being continued and we are spoken to bedsides and they seem to be in that mood. they were talking about a potential landing zones and it is very encouraging. there is a need for simplicity and affordability but a need for predictability about this. we need to know where we�*re going and ideally we need to get that point very soon so it is encouraging that we are in a two horse race, one team has changed its rider but the racist one. finish line hopefully mayjust be on site. that it seems there is some kind of timeframe for these negotiations but there is in fact no hard deadline, really. that is part of the challenge was that there is nothing to create that deadline so a couple of months ago we thought christmas might be the notional deadline and then it has become clear that we are going to miss the only deadline we have coming up obviously here is an assembly election at stormont coming up on me. not very much of a deadline to get an international agreement bottomed out and bedded in. i think we need to keep the pressure on both sides to recognise that business you need to see some sort of resolution to this so that we can capture all of the opportunities and benefits the pedagogue had been to us if it is played out correctly but also so we can avoid unnecessary damage. also so we can avoid unnecessa damaue. ~ . , , unnecessary damage. which begs the question. _ unnecessary damage. which begs the question, what _ unnecessary damage. which begs the question, what if— unnecessary damage. which begs the question, what if this - unnecessary damage. which begs the question, what if this does i the question, what if this does not happen. trust is one the uk could so trigger article 16 if necessary. explain to our viewers what that would mean for your businesses.— for your businesses. article 16 is one of— for your businesses. article 16 is one of the _ for your businesses. article 16 is one of the strange - for your businesses. article 16 is one of the strange thing i is one of the strange thing that has got mythical status over the last few months. it is under 180 words in length and is one small part of the protocol agreement was reached between sides and was a mechanism that either side could invoke its there were a problem in their eyes as to how the protocol was operating but it seems to have assumed the importance of the nuclear button and so it has been danced around over the last few months, the threat of using it was ratcheted up by lord frost previously then receded and then again liz truss last weekend raised the prospect of it being available as a tool and it is still available as a tool but the ultimate purpose is to bring people back to the negotiating table to work through problems by discussion and so at the moment it seems to us there is no point in reaching for that button because both sides are at the table, they are talking. this is to be a very good spirit amongst them and we hope they can actually get to where they need to get to by constructive negotiation and dialogue. thank ou for negotiation and dialogue. thank you for your _ negotiation and dialogue. thank you for your time. _ to the us now, where the supreme court has blocked the white house from enforcing vaccine—or—test requirements for large private businesses. the mandate would have forced firms with 100 or more employees to either get vaccinated or submit a negative covid test weekly and wear a mask to enter the workplace. the biden administration had argued the rules were necessary to address the "grave danger" posed by the covid pandemic. the bbc�*s samira hussain reports from new york the supreme court was sympathetic to the efforts been taken by the white house to combat the virus. even citing the toll the pandemic is taken in the country. nevertheless the court said it is not legal for the government to force a vaccination mandate. this comes as a blow to the biden administration which really viewed these requirements as a key tool in its arsenal to fight the covid pandemic. the decision cannot stop private companies from instituting their own vexing mandate. this is basically saying that the white house cannot force this mandate. two of america�*s biggest investment firms have already said to their employees they must be vaccinated to enter the workplace or face termination. other companies are likely to follow suit. the supreme court decision came on the same day as the white house announced it would make high—quality masks available to all forfree. and it was high—quality masks available to all for free. and it was secure an additional 500 million kevin 19 tests. stay with us. ski resorts welcome the return of the brits. pressure mounts on uk prime minister borisjohnson after new allegations emerge of more downing street parties in breach of lockdown rules. sedition charges have been brought for the first time against people accused of taking part in the storming of the us capitol last year. congestion at container terminals around the world is getting worse — this is according to the shipping industry analysts sea intelligence. last year around 11 per cent of global container ship capacity was taken out by vessels being stuck in queues waiting to get into port — at a time when demand was rising. and early indications are — that things have got worse, rather than better — exacerbating already acute supply chain problems — and adding even higher costs for businesses already facing soaring shipping rates(read on) peter sand is chief analyst at the shipping data company xeneta — where are the pinch points for uk businesses and consumers? i think it is the turnaround time of it that is the critical thing for not only the uk importers and exporters but the global supply chains. the same thing basically goes for us because, in essence, the turnaround time of containers that are around 50 days in those two countries and it takes a long time for empty containers to get back to the far east and then out again so thatis far east and then out again so that is a little bit about of equipment that is straining supply chains further. this seems to _ supply chains further. this seems to be _ supply chains further. this seems to be a _ supply chains further. this seems to be a pretty i supply chains further. this seems to be a pretty clear problem. when you realise that actually the east is far better at turning round these containers and getting them out again then the west. surely we knew this was going to happen if the west is just much lower than the east. of course there will be a problem in the middle. it will be a problem in the middle-— will be a problem in the middle. , , , , . middle. it is the ripple effect from consumer _ middle. it is the ripple effect from consumer demand i middle. it is the ripple effect from consumer demand that | middle. it is the ripple effect i from consumer demand that we had from covid predominantly in north america that have completely raised the whole global network of ocean shipping. what we see right now in terms of 100 ships waiting in terms of 100 ships waiting in line from asia into the ports of san pedro bay and the west coast, that is very see the most congested ports in one place but out of asia they are also struggling, in availing partial closures of the key export terminals for container goods. most recently around the tangier but also other huge export ports from china to the whole world.— export ports from china to the whole world. what is being done about it? give _ whole world. what is being done about it? give them _ whole world. what is being done about it? give them everything i about it? give them everything that can be done about it. in various places miners are being penalised for not getting those boxes out of the docks and port parameters fast enough. that has worked, to some extent, but so much more needs to be done and at a global scale for anything like this can be resolved. we will touch a game because this does not look a problem that is going to go away. much for your time today. you are welcome. google is spending a billion dollars buying and refurbishing its london headquarters— and expanding its office space across the uk — in a sign that working from home�*s not about to become the norm any time soon. google�*s uk boss says when government guidance allows it, he�*ll be asking most staff to spend three days a week in the office. but he told the bbc�*s business editor simon jack that hybrid working will be experimental over the next two years, as companies and employees try and find the right balance. we wa nt we want to reinvigorate the work environment. we are making this commitment to buying these buildings, we�*re going to invest in reinvigorating the office and refurbishing it and we are keen to everybody come backin we are keen to everybody come back in and see if it works again. we are committed to three days a week on average but we�*re also introducing other forms of flexibility so we are into using four weeks of work from anywhere. so you can choose for weeks over the course of the year and work from a location, you don�*t have to come into the office. we�*re also going to introduce recharge days to the pandemic to make sure people looking after their to make sure people looking after thei— to make sure people looking afterthei . ., ., after their are you not worried ou will after their are you not worried you will be — after their are you not worried you will be at _ after their are you not worried you will be at a _ after their are you not worried you will be at a competitive i you will be at a competitive disadvantage for companies requiring fewer days and that in the office? in the mag we will have a rethink about 20% of those overtime that are fully remote. so there are definitely opportunities for people to come and work with us and are for the remote basis but for the vast majority of roles it will be three days and again it comes back to you, we have surveyed our employees and talk to them about what they value and what they want in collaboration keeps coming back. the opportunity to be in a room with their colleagues collaborating and working on exciting is something they really value. white magazines we are employees market as shortages in many places, a fierce warfor talent. shortages in many places, a fierce war for talent. you think employees and is decision situation are calling the shots at the moment? you make a distiller experiment was at the last few years are an experiment but the next you will be an experiment in equal measure where we try to figure out what does hybrid and flexible actually mean and it would differ from flexible actually mean and it would differfrom company to company and from road to world but i think it will be a over the next two years. it is true that fewer employees will be in the office altogether. that that fewer employees will be in the office altogether.— the office altogether. that has uuite bad the office altogether. that has quite bad consequences i the office altogether. that has quite bad consequences for i the office altogether. that has| quite bad consequences for the businesses that serve areas like this, coffee shops, gyms, hairdressers, dry cleaners, it is inevitable they will suffer. what is going to happen is there will be no revolution. there is definitely going to be more people, we talk about our workforce and as many as 20% of our roles will be remote. that means there is a 20 of people in local villages and towns which are reinvigorate those. 80% of either going to be coming into the office. we will be continuing to grow every event as we talked about in the back of this investment. i still think there will be lots of economic activity and environments around offices and will be focused on that as well. i will be focused on that as well. ~ �* well. i den think i've ever seen so _ well. i den think i've ever seen so many _ well. i den think i've ever seen so many empty i well. i den think i've ever. seen so many empty chairs well. i den think i've ever- seen so many empty chairs in one shot. finally — to the travel business — because tour operators and airlines have seen a surge in bookings, after france said it will ease tough restrictions on visitors from the uk. from today, fully—vaccinated travellers from the uk will no longer need a compelling reason to enter france — or self—isolate when they arrive. the restrictions — brought in to slow the arrival of omicron — effectively banned uk tourists over the christmas and new year period. the changes will be a huge relief for the ski holiday industry — which has been hard hit by the pandemic over the past two winter seasons. brits account for as many as one in four visitors at some resorts in the french alps — and february half term week is a peak time forfamily ski trips. vincent lalanne is director of the val thorens tourism office — val thorens is part of the 3 valleys region of the french alps with some 600 kilometres of ski runs — has this change come in time to save the season? has this come too late? is this change come in time to save the season or not, do you think? it is never too late. it was kind of a match between the two but anyway, nobody can stop british ski fans so it is never too late to kaminski and the season is good. we have so much snow, nice weather, even this weekend average clients come and will enjoy a pure quality of snow. it sounds great but it is said that british tourists spend more abroad comparatively speaking than other tourists. is that what you are experiencing your region? what boost for the british pound make to that?— make to that? the british im acts make to that? the british impacts a _ make to that? the british impacts a lot _ make to that? the british impacts a lot because i make to that? the british impacts a lot because of. make to that? the british i impacts a lot because of the british in the resort but usually you are right, the british clients are some of the people who consume the most in the resort and that they go everywhere. a lot of money since the beginning ofjanuary because usually there are a lot of individuals and groups coming but we had a good beginning of the season and a lot of british groups who came in the end of november and early december because you got the longest season in europe so we already have a lot of british clients and it was a perfect day for them but now since the beginning ofjanuary, we have holidays because there were people clients from all over the world. the usual british clients have been replaced by dutch client saw belgian, even french clients. usually the beginning of january it is for the british. so in all of the french results, usually. now we have lost a lot of money. imilli results, usually. now we have lost a lot of money.— lost a lot of money. will have to leave it — lost a lot of money. will have to leave it there _ lost a lot of money. will have to leave it there for _ lost a lot of money. will have to leave it there for the i to leave it there for the moment. thank you very much. i hope it goes well for you and the february half term is all that you hope it will be. how jealous am i? look at that chalet. let�*s have a look at the market. let�*s see how the asian markets are faring today. asian shares taking a beating after a fresh salvo of hawkish remarks from federal reserve officials. south korean shares dropped 1.5% after its central bank raised its benchmark rate 25 basis points to 1.25% onfriday, taking it back to where it was before the pandemic as it seeks to restrain consumer price rises. for some of us, it�*s going to be a very foggy start to friday. if you are planning to travel through the morning, take it steady — particularly across parts of wales, central and southern england. but i think for most of us it should be a sunny start to the day, brought by this area of high pressure which has been hanging around for quite a while now. windless conditions, too, but quite a temperature contrast across the uk and, in fact, the breeze isjust about coming off the atlantic across scotland, so frost—free here and frost—free generally for northern ireland, too. the frost will be across the southern half of england and wales — even “4 degrees in one or two spots. and here, it�*s also where the fog is going to be forming — in the centre of this high pressure here, and some of that fog will linger into the afternoon but, as i say, for most of us, it�*s a sunny day. now, the problem with the high pressure, though, and the windless conditions — particularly in london and the southeast — will be the pollution. that�*s what sometimes happens when you get these very stable conditions with the light winds — the pollutants get trapped in the atmosphere in urban areas and we get some very high levels — butjust for friday, so this is going to be for london and the southeast. for most of us, it�*s a bright day with slightly fresher air and temperatures of around about five to seven degrees. now, more of a breeze on saturday, which means that some of these pollutants will be blown away, so not quite so bad in the southeast. and the weather — not a bad day for most, although we are going to start off on a foggy note once again — particularly across central and southern parts of england and wales. more of a south—westerly breeze here, i think, in scotland and northern ireland, so a bit more cloud here — in fact, there�*s a weather front approaching, so a little nuance in our weather heading for the north of the country, this little weak weather front will bring some spots of rain into sunday for scotland, and then eventually there�*ll be some spots of rain, i think, on sunday morning in the north of england as this weather front topples around this area of high pressure that we have in the south. temperatures on sunday, ten degrees in london — for most of is it�*ll be around eight or so. so let�*s summarise all of that. watch out for the fog first thing on friday morning — could be quite nasty in places. and then after that, actually, the weather isn�*t looking too bad at all — it�*s very stable, calm weather to come in the coming days. good morning, welcome to breakfast with charlie stayt and naga munchetty. our headlines today — new allegations — downing street staff are accused of holding more rule—breaking parties on the eve of prince philip�*s funeral. one of borisjohnson�*s key backbench allies now says publicly he has no confidence in the prime minister. as prince andrew loses his military titles, the woman accusing him of sexual assault says her goal is to show the rich and powerful are not above the law. cricket must tackle rascism, or risk losing public funding. thats one of the main recommendations from a parliamentary report into the crisis in the sport, after the powerful testimony from former yorkshire player azeem rafeeq.

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