Transcripts For BBCNEWS World Business Report 20240708

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elon musk has launched a hostile bid to take over his hobby — twitter. the billionaire behind tesla uses the platform to connect with his 81 million followers. he thinks the company is essential to the functioning of democracy and that he's the right person to "unlock" what he describes as its "extraordinary potential". yes — he's recently emerged as its biggest shareholder — but the announcement still took the corporate world by surprise. he's offered to pay $54.70 cents a share — more than what the shares are currently trading for. at that figure, the business would be worth $15 billion. joining me now is debra aho williamson, principal analyst at insider intelligence. he's not short of a few bob — but is he good for that kind of money? certainly, he's the richest man in the world, he certainly has the money, or can probably obtain the money if he is smart and he really wants to do this. i think the big question for me is, does he really want to do this or is this just yet another piece of a puzzle that he has been building over the course of the week with twitter. ranging from him buying shares in the company, to twitter offering him a board seat, to him, i think possibly accepting it then declining it and then suddenly now coming back with the idea that he's going to the company. it's been a rollercoaster of a week for twitter. and it's not over yet. if you look at what's going on with the share price as to whether this will go ahead, the shares of twitter didn't move so much so they are not so sure this will actually go ahead, she fell, people thinking he has to get the money from somewhere and he might have to live it out test. to do this. kind of interesting what's going more broadly in the market? i going more broadly in the market?— going more broadly in the market? , ~ market? i definitely think the investor lack _ market? i definitely think the investor lack of _ market? i definitely think the investor lack of and _ market? i definitely think the investor lack of and sue - market? i definitely think the investor lack of and sue the l market? i definitely think the i investor lack of and sue the sm is a very big sign. i also think we saw news earlier, it's still thursday night where i am in seattle, earlier today saw news that the board was possibly considering a poison pill, which would make the stakes even higherfor pill, which would make the stakes even higher for elon musk, if we were to try to come back with another bed, so there is a whole lot of drama going on here, and it's amazing because this is a company, you have to think about twitter in the realm of where they sit on the realm of where they sit on the social media landscape. they aren't a huge player by any stretch of the imagination. facebook, instagram are both much larger than twitter, even tiktok, is not as big as twitter but certainly much more bahs. so elon musk is trying to acquire a crownjewel, it's just something he is super passionate about.- just something he is super passionate about. mask is used twitter to promote _ passionate about. mask is used twitter to promote his - passionate about. mask is used twitter to promote his own - twitter to promote his own agenda and launch personal vendettas and he has been wrapped over the knuckles before about making misleading and market moving statements. what safeguards might there be to prevent a future owner of the twitter, elon musk eventually from abusing this power and influence?- power and influence? that's really hard _ power and influence? that's really hard to _ power and influence? that's really hard to say _ power and influence? that's really hard to say once - power and influence? that's really hard to say once a - really hard to say once a company like twitter were to become private, some of those safeguards which are in the form of a securities and exchange commission rule would not apply. the other thing that's very interesting is that one of the things elon has said about why, one of his criticisms about twitter, is that he feels they have gone too far with content moderation and he is very much in favour of free speech, i kind of see it as almost being a no holds barred environment if he really were to acquire this company, you have already seen him testing the limits even with twitter as a public company with himself at the helm of another public company, tesla. thank you very much, debra williamson in seattle for us. i want to quickly explain what a poison pill is, we talked about their it is a defence strategy a takeover defence strategy when a target company issues a bond that investors can redeem before its maturity date, the idea is really to discourage attempts of a takeover in this case elon musk for twitter. there you go, your vocabulary for the day. most major international airlines pulled out of russia weeks ago. however, emirates airline, which is owned by the dubai government, is one of the few major airlines with active routes to the country. dubai is part of the united arab emirates, which hasn't condemned russia for the war in ukraine or imposed sanctions against the country. in an exclusive interview, sir tim clark, the president of emirates airline spoke to the bbc�*s middle east business correspondent sameer hashmi. he began by asking mr clark, if the carrier had any plans to review its decision. carry passengers to moscow, saint petersburg, we carry cargo which is not involved any of the sanction items, we carry food, medical, wejust as i have said earlier, you have to recognise that the russian population, may not be part of what's going on, and the diplomatic corps of other countries who have missions in moscow, who might have otherwise gone over europe still have to function, move people in and out so you are catering to those that are on the periphery of the main issue here. i think that's probably the way the government looks at it. , , ., the way the government looks at it. , ., ., ., ., the way the government looks at it. just to follow on that i know it — it. just to follow on that i know it is _ it. just to follow on that i know it is a _ it. just to follow on that i know it is a state - it. just to follow on that i | know it is a state decision there might be a point with the government, along with the airline may regret this decision, that's not on the table right now?— decision, that's not on the table right now? that's not my call, that is — table right now? that's not my call, that is the _ table right now? that's not my call, that is the government i call, that is the government call, that is the government call, the uae government of dubai, if we are told to stop stop, unless we are told otherwise... stop, unless we are told otherwise. . ._ stop, unless we are told otherwise... what does this mean for — otherwise... what does this mean for the _ otherwise... what does this mean for the airline - otherwise... what does this i mean for the airline industry, we have so much air space shutdown, high prices the industry was just coming out of covid—i9 now we have this war. we have this which is likely to last for quite a long time and how well the change traffic, this is what happens if russia is excluded by the west say from the global economy, how does that change out the way the global economy works. that will determine traffic patterns, where people go why they travelled when they travel. it is anybody�*s guess as to what is going to happen here. what is considered to be a localised thing, you talk about ukraine i call it a war in europe because it has major manifestations of perhaps disadvantage for both sides, but this will affect what goes on in our business. are you staying? are you going? easter this year may well be a scramble. the aa motoring organisation estimates that around 27.6 million carjourneys will take place over the bank holiday weekend in britain. cross—channel ferry services have been cancelled between dover—calais, a second p&0 ferries ship failed a safety check. there will also be disruption to train travel as some lines are closed for engineering work and many airports are facing long delays and cancellations. simon calder, the independent travel expert is with me. if you do have to travel this weekend — how can you best prepare yourself for the headache ahead? well, first of all you have to establish what the rules are your destination, i'm here at saint pancras international station, uk's only international railway station, at the moment euro stay —— euro star trains to paris and brussels, both of those destinations has different rules depending on your status. the next thing to do is find out if your transport is actually running. i have been looking at the flight cancellations today, british airways has cancelled 68 domestic and european flights to and from its main base, london heathrow, from gatwick airport the biggest base, 2a cancellations, the airlines say we want people to have enough time to make alternative arrangements, just the fact they can cancel every single day getting on for 100 flights, shows how stretched the whole system is and that's also repeated at the security checks, that is all part of parcel at the international airport or an international rail station. airport or an international railstation. i have airport or an international rail station. i have been across to check things out it's really quiet today, yesterday i was here and there were many hundreds of people because this is also when the travel gets going again, eurostar is running 1a departures today from london to paris, more than it has run since march 2020. someone a little impatient to get to the station there. just having a look on the internet, it looks at it the queueing system for lorries across channel has been scaled back because of the threat of the disruption, if you find yourself delayed on the roads and there are expected to be delays and you miss a flight or a ferry can you get your money back? if a ferry can you get your money back? , ., , ., , a ferry can you get your money back? .,,, . back? if it is a serious piece of road congestion - back? if it is a serious piece of road congestion that - back? if it is a serious piece. of road congestion that could not have been expected and you are insured then your travel insurer may well help you out. the airlines, the ferry companies are taking you, what you booked is ready, the fact that you aren't there isn't my problem. definitely allow plenty of time. if you are travelling around the uk, then this is the traditional time for all kinds of engineering, the main west coast mainline which is the intercity link from london to the west midlands, north—west england manchester, liverpool and glasgow in edinburgh in scotland is closed from now till tuesday morning. so, just over to my left is king's cross station at the east coast mainline taking all the strain andindeed mainline taking all the strain and indeed even though it's not quarter to six yet, in the uk, it is still very, very busy. thank you, very much simon. stay with us on bbc news, still to come: get ready for the gaming event of the year as 40,000 fans gather in birmingham for the insomnia festival. pol pot, one of the century's greatest mass murderers, is reported to have died of natural causes. he, and the khmer rouge movement he led, were responsible for the deaths of an estimated 1.7 million cambodians. there have been violent protests in indonesia, where playboy has gone on sale for the first time. traditionalist muslim leaders have expressed disgust. the magazine's offices have been attacked and its editorial staff have gone into hiding. it was clear that paula's only contest was with the clock, and as for her sporting legacy, paula radcliffe's competitors will be chasing her new world—best time for years to come. quite quietly, _ but quicker and quicker, she seemed just to slide away under the surface i and disappear. this is bbc world news, the latest headlines: russia says the flagship of its black sea fleet has sunk after an explosion, ukraine claims it hit the moskva with missiles. on our exclusive visit to volodymyr zelensky�*s war bunker, ukraine's president tells the bbc continuing russian attacks are narrowing the chance for a peace deal. the global games market is already huge, reported to be worth around $175 billion, but it could be twice that in as little as five years. gaming was one of the biggest economic winners of covid, with console sales surging during the pandemic. today, one of the biggest gaming festivals in the uk kicks off in birmingham's nec — insomnia, they're expecting up to 40,000 visitors. joining me now is georgejijiashvili, principalanalyst, 0mdia. where is all this growth coming from — new gamers or die—hard gamers spending more? it's definitely a combination of both, the traditional diehard gamers but also literally anyone with a smart phone. literally anyone with a smart hone. ., ,., , literally anyone with a smart hone. ., , , phone. 0k, and so this is the bi area phone. 0k, and so this is the his area of — phone. 0k, and so this is the big area of growth, _ phone. 0k, and so this is the big area of growth, is - phone. 0k, and so this is the big area of growth, is it - phone. 0k, and so this is the | big area of growth, is it smart phones? big area of growth, is it smart hones? ., , big area of growth, is it smart hones? . , ., , ., phones? certainly mobile gaming is the weakest _ phones? certainly mobile gaming is the weakest in _ phones? certainly mobile gaming is the weakest in terms _ phones? certainly mobile gaming is the weakest in terms of - phones? certainly mobile gaming is the weakest in terms of the - is the weakest in terms of the spend, the spend on mobile games is the same as console and pc gaming combined. wow! that's amazing, _ and pc gaming combined. wow! that's amazing, had _ and pc gaming combined. wow! that's amazing, had no - and pc gaming combined. wow! that's amazing, had no idea. it| that's amazing, had no idea. it is massive and if you in revenue generated from in game advertising, then it almost doubles as well. so advertising, then it almost doubles as well.— doubles as well. so is this where the _ doubles as well. so is this where the majority - doubles as well. so is this where the majority of - doubles as well. so is this where the majority of the | where the majority of the movement is happening? is this where games are being developed, on people's phones? well, it's a combination, because the beauty with games is that it is so varied and it can really appeal to anyone, any gender, any age, really, so we think there will continue to be demand for games on consoles and pcs for more diehard gamers but also there is plenty of development happening on more casual games on smart phones. i was looking at some of the research on this and showing that actually there isn't much of a gender bias when it comes to gaming, but they quite want to gaming, but they quite want to go into the demographics because they saw something interesting, 78% of gamers in the us believe that gaming plays a huge part in making friends and starting relationships. are we talking silver surfers or genz and millennials for whom gaming has become a major way to connect? exactly, and especially throughout the pandemic, gaming was an essential part of a kind of staying sane and staying connected with your friends because we have to remember that, at its core, games are really connect it and it's all about multiplayer and getting people involved in getting people involved in getting people together.- people together. really interesting, _ people together. really interesting, thanks - people together. really interesting, thanks so i people together. really - interesting, thanks so much george. i don't know if you are going to insomnia, but if you are a hope you enjoy it. the war in ukraine has caused widespread suffering inside the country — but it's all had a big impact on hundreds of seafarers who have been trapped by the conflict. these are the crew who man the ships which were crucial to ukraine exporting vast amounts of crops such as sunflower oil and wheat. as my colleague aaron heslehurst has been hearing from guy platten, the secretary general of the international chamber of shipping, hundreds of them remain trapped on their vessels in the sea of azov unable to get off or move their ships. getting information is quite difficult, i'm glad to speak to you again but we reckon about 140 ships, a hundred large ships and 40 small ships are currently trapped in ukrainian ports about 2000 seafarers of 20 nationalities on board those ships and it is quite a desperate situation, we are increasingly worried their welfare and well—being. i5 increasingly worried their welfare and well-being. is this a case of all — welfare and well-being. is this a case of all these _ welfare and well-being. is this a case of all these vessels - a case of all these vessels stuck, simply wrong time wrong place? stuck, simply wrong time wrong lace? . , stuck, simply wrong time wrong lace? ., ,, my stuck, simply wrong time wrong lace? ., ,, ., place? that is precisely at. they were _ place? that is precisely at. they were shifting - place? that is precisely at. they were shifting cargo, i they were shifting cargo, coming _ they were shifting cargo, coming into port, loading cargo onto_ coming into port, loading cargo onto discharge cargo, then everything started and they were — everything started and they were trapped, and the advice was — were trapped, and the advice was slay— were trapped, and the advice was stay still and they stopped exactly — was stay still and they stopped exactly where they are, that is the advice _ exactly where they are, that is the advice from ukrainian authorities who then shut the ports— authorities who then shut the ports going forward, so literally there were ships that had sailed hours and others which — had sailed hours and others which came in or were imports thai— which came in or were imports that were _ which came in or were imports that were trapped at that very point — that were trapped at that very point in — that were trapped at that very point in time and that is six weeks _ point in time and that is six weeks now and it must be increasingly worrying for the cruise — increasingly worrying for the cruise on _ increasingly worrying for the cruise on board the ship. and 'ust cruise on board the ship. and just what _ cruise on board the ship. and just what dangers _ cruise on board the ship. fific just what dangers did actually face, the vessels and the on board? what do they face if they try to leave? i've been reading reports that a lot of these waters have been mined by these waters have been mined by the russians.— the russians. firstly, mines as well as reports _ the russians. firstly, mines as well as reports of— the russians. firstly, mines as well as reports of mines - the russians. firstly, mines as well as reports of mines and i well as reports of mines and the approaches to the various ports. — the approaches to the various ports, reports of drifting mines _ ports, reports of drifting mines as well so clearly at the moment— mines as well so clearly at the moment it would be extremely inadvisable for those ships to sail but — inadvisable for those ships to sail but also there's other forces _ sail but also there's other forces as— sail but also there's other forces as around that they may be forces as around that they may he caught— forces as around that they may be caught up in, collateral firing _ be caught up in, collateral firing on— be caught up in, collateral firing on their ships as well so at — firing on their ships as well so at the _ firing on their ships as well so at the moment the strong advice — so at the moment the strong advice from ourselves and the authorities is to remain in port — authorities is to remain in port for— authorities is to remain in port for the time being and of course — port for the time being and of course even when that conflict is over— course even when that conflict is over and we hope to god that is over and we hope to god that is soon. — is over and we hope to god that is soon, there is going to be an ongoing danger for the ships to get— an ongoing danger for the ships to get out— an ongoing danger for the ships to get out of the ports because of the — to get out of the ports because of the presence of mines and they— of the presence of mines and they will— of the presence of mines and they will take many weeks if not months to clear even when we do — not months to clear even when we do eventually have a ceasefire and peace breaks out. we also — ceasefire and peace breaks out. we also know about ukraine and russia being major exporters of food to the rest of the world. just again for viewers around the world, just describe how important is the sea of azov for global trade and what are the concerns of this isn't resolved soon.— the concerns of this isn't resolved soon. ukraine and russia are _ resolved soon. ukraine and russia are of _ resolved soon. ukraine and russia are of course - resolved soon. ukraine and russia are of course but i russia are of course but ukraine _ russia are of course but ukraine is a major exporter of grain— ukraine is a major exporter of grain to — ukraine is a major exporter of grain to the world and they were — grain to the world and they were speaking to a contact recently _ were speaking to a contact recently and egypt and he was telling — recently and egypt and he was telling me that grain prices have — telling me that grain prices have quadrupled in the last few weeks — have quadrupled in the last few weeks so — have quadrupled in the last few weeks so it is clearly not being _ weeks so it is clearly not being able to get the grain out asa being able to get the grain out as a major problem going forward _ as a major problem going forward and you can see this playing — forward and you can see this playing out in the weeks and months _ playing out in the weeks and months ahead, the longer this goes _ months ahead, the longer this goes on. — months ahead, the longer this goes on, the more increasingly difficult — goes on, the more increasingly difficult it — goes on, the more increasingly difficult it is going to source those — difficult it is going to source those real supplies, particularly in the middle east and africa where there is an awful— and africa where there is an awful lot _ and africa where there is an awful lot of russian and ukrainian grain. and you can see more of that interview with guy platten, secretary general, international chamber of shipping, on "talking business with aaron heslehurst" this weekend on the bbc news channel at 1530 on saturday here in the uk, and in the rest of the world on bbc world news — where the first airing is at 2330 gmt on saturday. easter is the new christmas as retailers see a surge in demand for themed decorations. it's notjust chocolate — artificial trees, rabbit—themed crackers and candles that smell like cinnamon are all proving very popular. but making an effort at easter is nothing new for many european countries, easter trees are popular in sweden and germany, where bare branches are decorated with painted eggs and feathers. in 2021, almost one in 20 britons brought home decorations for easter, rising to one in 10 between the ages of 25 and 40 according to retail analysts mintel. joining me now is kate hardcastle mbe, consumer expert. do you go in for this? mia tables caper, _ do you go in for this? mia tables caper, the - do you go in for this? mia tables caper, the idea i do you go in for this? misc”. tables caper, the idea that we go out of our way to create dutiful masterpieces for we make the dinner, absolutely not, they have no time. but particularly with the rise of social media and seeing how these images develop and how people are making quite the grand effort for these opportunities, i think for families together again is really growing and we've seen that significantly over the years. we spent over half a billion on easter in the uk, thatis billion on easter in the uk, that is still quite a small amount compare to america where it is over £22 billion on easter. it is over £22 billion on easter-— it is over £22 billion on easter. �* easter. america imported halloween _ easter. america imported halloween rally _ easter. america imported halloween rally over i easter. america imported halloween rally over the i easter. america imported i halloween rally over the last 20 years, it wasn't something that people in it really dead in a big way and now everyone is trick—or—treating come 0ctober, so do you see this going the same way? is the spend only going to rise? i do, i think it spend only going to rise? i do, i think it is _ spend only going to rise? i do, i think it is very _ spend only going to rise? i do, i think it is very much - spend only going to rise? i do, i think it is very much about i i think it is very much about this idea of an event, a moment to get to and when you think about the way we shop emotionally, the psychology of, in a cold dark winter, a lot of challenging news for people, easter is this moment to celebrate, the bright colours, everything from the outdoors, the rise of spring, it is a religious festival and there are questions at times as to whether these tab events may be coming over commercialised and i think there is a sensitivity that retail needs to show, that said it is a very important period forfinances of period for finances of industries beyond retail, travel and tourism, so yes i think we will always see growth in event shopping and event celebration, particularly driven by the idea that we have got to show off to our peers. i don't want to be a grinch here, but i'm looking at all these pictures of bunny rabbits and things floating past the side of your face as we are talking, and it doesn't look as though retailers are being sensitive to the fact that it has its roots in a religious festival and celebration, and also, we are a country that is struggling with a cost of living crisis, so how responsible is it for retailers to be pushing this stuff on people and families, and people are having to make the decision between food and fuel? i are having to make the decision between food and fuel?- between food and fuel? i think ou are between food and fuel? i think you are absolutely _ between food and fuel? i think you are absolutely right - between food and fuel? i think you are absolutely right to i you are absolutely right to highlight that retailers need to be authentic and they really need to ensure that they are showing their consumers they are doing the right thing and it is a battle there, particularly on matters like sustainability. 0ne particularly on matters like sustainability. one of the good pieces of news around the stories that we see in the rise in search of diy easter decorations, more sustainable decorations, more sustainable decorations on the rise too, so that consumer messaging is getting through. i think it is always a challenging balance for retailers. they want to make sure they don't miss out on the opportunity of the sale but at the same time, the pressure is on to do the right thing. d0 pressure is on to do the right thin. ., pressure is on to do the right thin _ ., ., pressure is on to do the right thini_ ., ., , pressure is on to do the right thin. ., ., , ., , _ thing. do have a very happy easter wherever _ thing. do have a very happy easter wherever you - thing. do have a very happy easter wherever you are i thing. do have a very happy easter wherever you are in l thing. do have a very happy i easter wherever you are in the uk. see you soon. hello there. the weather this easter�*s looking pretty decent across much of the country. could see a little bit of rain pushing into the far north and west of the uk as we head through easter sunday into easter monday. but i think for many, it will stay fine, dry and pretty warm. temperatures into the low 20s celsius across the warmest part of the south and east of england. we'll have these weather fronts across more western areas, but this high pressure will continue to exert its force and keep them out at bay. so, for good friday, many places will start dry with some sunshine through central and eastern areas. a bit of coastal mist and fog around. further west, closer to those weather fronts, we'll have more cloud — northern ireland, south west scotland, along irish sea coasts down into south west england, the odd shower around here. the odd shower could develop elsewhere as temperatures reach the low 20s across the southeast. most places, though, will be dry, and for many, it's going to be mild with light winds. as we head through friday night, most places will be dry. any showers will die away. we'll see some low cloud, mist and fog returning, particularly across more southern and western areas. for many, it's going to be a mild night, but under clearer skies across the east, could be fairly chilly. so, for saturday, another dry day, plenty of sunshine from the word go across the south—east. after that cool start, temperatures will rise. again, there is a very slim chance of a shower developing here and there. most places will be dry with sunny spells. bit more cloud across the very far west. temperatures, again, mid—to—high teens, low 20s in the warmest spots. now, this is where we start to see a little bit of difference, a little change to the weather through easter sunday into monday. we could start to see our area of high pressure break down. that'll allow low pressure to push in from the west, but pushing weather fronts from west to east. but because these weather fronts will try to bump into this area of high pressure, they will be fizzling as they try to track their way eastwards. i think easter sunday, the very far west of the country looks like it will see some cloud and rain. elsewhere, most of the country will be dry again with plenty of sunshine, and it'll be quite warm with temperatures reaching 20 or 21 degrees. as we move into easter monday, that front clears eastern areas — barely anything on it. slightly fresher day to come for many, with low pressure to the north of the uk. could be quite windy across northern scotland, one or two showers here. but elsewhere, i think it looks largely fine, dry and settled, with temperatures a little bit lower. good morning welcome to breakfast with charlie stayt and rachel burden. 0ur headlines today: explosions in the ukrainian capital kyiv as russia admits its most powerful warship has sunk. a controversial scheme to send some asylum seekers from the uk to rwanda could be up and running in a matter of weeks according to the government, despite the threat of legal action. a former british national faces life in prison after he was convicted of being part of an islamic state group responsible for the killing of american and british hostages in syria. preparing for the first easter holiday without restrictions in three years. more than seven million brits are planning a domestic holiday this

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