Transcripts For BBCNEWS World Business Report 20240708

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emmanuel macron has been re—elected as leader of his country — the first french president to achieve a second term in office in 20 years. in his victory speech, macron vowed to be "the president for everyone" and said he had an obligation to those who voted for him to block the far right. far—right opponent marine le pen quickly conceded, but vowed to continue to fight for her nationalist ideas. what does it all mean for the french economy? joining me now is gilles moec, chief economist, axa group. in chief economist, axa group. terms of the key ecor impact in terms of the key economic impact of this one of the major differences was on pension reform? , , ., , ., differences was on pension reform? , , ., ., reform? yes, this was one of the key differences _ reform? yes, this was one of the key differences but - reform? yes, this was one of the key differences but my i the key differences but my amputation is the main difference was not necessarily on domestic policy where there were differences, it was on europe and european affairs. evenif europe and european affairs. even if le pen had given up on the so—called frexit, she was still going to be quite tough to deal with, in the eu. that was creating quite a bit of nervousness, in the market and business community. this has been removed from the equation so that's quite a big change. otherwise, in the realm of domestic policies, emmanuel macron has started his personal mandate as you could call him a moderate supply—side reformer, then he had to turn into a more traditional french canes ian state interventionist, my guess is because of the conditions of his victory he will be forced to continue a little bit in this keynesian interventionist realm, ratherthan this keynesian interventionist realm, rather than focusing on reforms, there is a long list of reforms that we had in 2017, at the beginning of his first mandate. at the beginning of his first mandate-— at the beginning of his first mandate. ., , ., ~ mandate. reforms take time, don't they _ mandate. reforms take time, don't they even _ mandate. reforms take time, don't they even on _ mandate. reforms take time, don't they even on the - mandate. reforms take time, don't they even on the scale l don't they even on the scale they are discussing, for people they are discussing, for people the immediate pressures the cost of living crisis, do we know what president macron by now to alleviate the pressure so many households are feeling? yes, because basically it's likely to be the continuation of what has already been done for several months now in france. interventions to protect people's income has been quite powerful, actually, since the end of february to the point that inflation in france's is one of the lowest in the eu at the moment, it looks big at 4.5%, it's actually one of the lowest for europe, so we will probably see the continuation of rebates at the continuation of rebates at the point of purchase for oil, and petrol and the continuation of transfers to the most vulnerable households, and may be more importantly, that's because of the specific french energy mix, more intent of —— intervention to try to avoid a transmission of the increase in wholesale —— energy prices to the price of electricity people play. it's been quite powerful over the last three months, my guess will if we continue to live with high wholesale prices for energy. aberdeen in scotland played host to another round of talks sunday, aimed at boosting the uk's £200 billion trade partnership with the united states. the uk government says talks will focus on "priority areas", including digital and innovation, green trade, supporting small and medium enterprises, and supply chain resilience. with progress stalled on a uk—us free trade deal, the uk government has switched its focus to making agreements with individual states in a bid to assist uk businesses. joining me now is professor elaine fahey, professor of law, jean monnet chair in law & transatlantic relations, city law school . what do you think each side will be looking to get out of these trade talks, what would be a key one for each of them? it's very interesting set of developments, to see the uk strategy, also to see how the us has— strategy, also to see how the us has played hardball with the uk and — us has played hardball with the uk and has clearly stated trade agreements are very old—fashioned. the parties seem both to _ old—fashioned. the parties seem both to want to win in the area of digital— both to want to win in the area of digital trade and better trade _ of digital trade and better trade and there is applicant push — trade and there is applicant push on _ trade and there is applicant push on the us side for workers rights _ push on the us side for workers rights and — push on the us side for workers rights and the environment, and all of— rights and the environment, and all of its — rights and the environment, and all of its new trade agendas, we are — all of its new trade agendas, we are not quite clear where the us— we are not quite clear where the us is_ we are not quite clear where the us is going lots of dialogue and talking, but there is a? _ dialogue and talking, but there is a? about how the us is willing _ is a? about how the us is willing to push because in the background many issues with the world _ background many issues with the world trade organisation. the uk, everyone knows is much more stranglehold at as to its position as to europe and position— position as to europe and position as to europe and position as to europe and position as to the complexity of digital trade in global britain and its need for new partnerships. a typical set to address_ partnerships. a typical set to address given the raw state of the negotiations. on address given the raw state of the negotiations.— the negotiations. on the uk side, the — the negotiations. on the uk side, the trade _ the negotiations. on the uk side, the trade minister - the negotiations. on the uk side, the trade minister hasj side, the trade minister has said britain's future prosperity lies with the usa. at the same time, the us, has made it very clear, that its focus is less on doing free trade agreements, beyond its borders, its focus is on domestically pro supporting the economy as it recovers from covid—19, a mismatch and sense of sense of urgency? absolutely, america first is still a us policy we are not 100% where this has gone difference in packaging in the post— trump era, what we will hear is to protect the good friday agreement and the protocol on the table, us strategy with individual states is unclear, not so easy to wide steps the fact you need a trade agreement with one of the world's largest economies, there is a lot to play for but there is a lot to play for but the important thing to state, is that us trade representatives is two days in the uk and aberdeen and london very significant agendas and being billed as such, a new sense of important respect to the uk position that hasn't been seen recently and we are told trade agreements are old—fashioned, what this means and how do we take that in the next two days and beyond, the so—called atlantic dialogue remains to be seen. just briefly what _ remains to be seen. just briefly what you - remains to be seen. just briefly what you make i remains to be seen. just briefly what you make of the strategy the uk has adopted over negotiating individual trade agreements with individual us states? legally, it seems a — individual us states? legally, it seems a very _ individual us states? legally, it seems a very curious - it seems a very curious position given it's a lot less legally binding agreements, the idea of federal trade competence being a very broad and powerful regulating interstate trade, it is being billed significantly by the uk but in reality not necessarily matched by the negotiation strategies of other countries. yeo —— the us has 20 agreements with 14 yeo —— the us has 20 agreements with 1a different countries and working on regional agreements the last well, it remains to be seen us strategy is pulled off but it would be quite unusual and it seems again, something that may not necessarily legally help it stand the test of time, it remains to be seen what us can make of the situation. they had been made clear they want to trade agreement with the uk, so it is the second best alternative, —— they don't want, and a reasonable position to advocate for. amsterdam's famous cannabis coffee shops could be set to ban tourists. the authorities have called it a �*necessary intervention�* to get a grip on the local soft drugs market. there are also rules to stop people drinking on the street as the city tries to clean up its image. there are over 160 coffee shops in amsterdam where cannabis is allowed to be sold and consumed and they have been running since the 1970s. they are a famous tourist attraction in the dutch capital, which welcomed around 20 million tourists every year prior to the pandemic. anna holligan reports. this is the side of amsterdam the local council wants you to see. they are trying to clean up see. they are trying to clean up the city �*s reputation and deter tourists attracted by sex and drugs. the red light district and cannabis phase. for the sake of families who live here, like the buses. that's the cliche, that's amsterdam, that is why people are coming, i don't think easy to change. are coming, i don't think easy to change-— are coming, i don't think easy to change. what's the problem at the moment? _ to change. what's the problem at the moment? the _ to change. what's the problem at the moment? the amount l to change. what's the problem | at the moment? the amount of tourism, there _ at the moment? the amount of tourism, there are _ at the moment? the amount of tourism, there are days - at the moment? the amount of tourism, there are days that . at the moment? the amount of tourism, there are days that it. tourism, there are days that it is too crowded, i can't get through to get my bike, and it's like to many people. the? it's like to many people. they say binge _ it's like to many people. they say binge drinkers _ it's like to many people. they say binge drinkers are - it's like to many people. they say binge drinkers are the - say binge drinkers are the biggest problem.- say binge drinkers are the biggest problem. say binge drinkers are the bi est roblem. , ., _ biggest problem. they get noisy and they are _ biggest problem. they get noisy and they are getting _ and they are getting aggressive, people go to coffee sh0p. _ aggressive, people go to coffee shop, smoke as she can get stoned _ shop, smoke as she can get stoned and most of the time relaxed~ _ stoned and most of the time relaxed. ., , .., ~ relaxed. people caught drinking alcohol on the _ relaxed. people caught drinking alcohol on the streets _ relaxed. people caught drinking alcohol on the streets can - relaxed. people caught drinking alcohol on the streets can now. alcohol on the streets can now be fined 95 euros. cannabis cafe owners argue plans to ban foreign tourists won't actually cut the crowds. it’s foreign tourists won't actually cut the crowds.— foreign tourists won't actually cut the crowds. it's one of the cuick cut the crowds. it's one of the . uick fix cut the crowds. it's one of the quick fix that _ cut the crowds. it's one of the quick fix that they _ cut the crowds. it's one of the quick fix that they think - cut the crowds. it's one of the quick fix that they think is - cut the crowds. it's one of the quick fix that they think is a l quick fix that they think is a contribution to the solution but in fact it will be a big disaster. being from amsterdam, and i like all kinds of people, it is sometimes hard to hear that amsterdam does not want soon tourists.— soon tourists. amsterdam's liberal, tolerant _ soon tourists. amsterdam's liberal, tolerant reputation | liberal, tolerant reputation attracts people from across the globe, many who have made this the home fear attempts to rebrand are taking the city in the wrong direction. we rebrand are taking the city in the wrong direction.- rebrand are taking the city in the wrong direction. we are in dancer the wrong direction. we are in danger of _ the wrong direction. we are in danger of trying _ the wrong direction. we are in danger of trying to _ the wrong direction. we are in danger of trying to sanitise - danger of trying to sanitise the city and it will become like any other european capital, things that make unique other things people hate about the city. i’m unique other things people hate about the city.— about the city. i'm not going to say when _ about the city. i'm not going to say when l _ about the city. i'm not going to say when i see _ about the city. i'm not going to say when i see certain - about the city. i'm not going l to say when i see certain kind of tourists, maybe it's a bad thing — of tourists, maybe it's a bad thing to— of tourists, maybe it's a bad thing to say, when you see peddle _ thing to say, when you see people why do you come here 'ust people why do you come here just to — people why do you come here just to get stoned i don't you stop— just to get stoned i don't you stop the _ just to get stoned i don't you stop the longer and give more thought— stop the longer and give more thought to your life. why is amsterdam the way it is? it is a beautiful city, all and all. the — a beautiful city, all and all. the question is whether the council can rebrand amsterdam without sacrificing what makes this european capital so special. freshippo, a supermarket chain owned by chinese e—commerce giant alibaba, says it's struggling to keep up with demand in shanghai, even as it adds more couriers to its delivery teams. our asia business reporterjoao da silva is following that story. what more do we know about this? �* , ., , , what more do we know about this? �*, ., ,, ., ., this? it's really yet another sin this? it's really yet another sign that — this? it's really yet another sign that the _ this? it's really yet another sign that the situation, - sign that the situation, millions of people under lockdown and shanghai is not getting any easier. the vice president of freshippo, saying they are struggling to fulfil a high volume of orders, even like you said as they add more curious to their deliverable teams. and this is happening because securing enough food, securing enough basic daily necessities has become a challenge for people and shanghai. most supermarkets there remain closed so people and communities are ready resorting to bulk buying and that's overwhelming few supermarkets and outlets that remain open. a reminder most of shanghai's 25 million residents have been under lockdown for more than three weeks now, and their situation is really uncertain, just on sunday, the city reported despite those lockdown is a record number of daily covid—19 deaths, and the number of infections has remained stubbornly high. we're heafina remained stubbornly high. we're hearing reports _ remained stubbornly high. we're hearing reports of— remained stubbornly high. we're hearing reports of panic - remained stubbornly high. we're hearing reports of panic buying in beijing, in the capital, what has triggered that? we are seeinu what has triggered that? we are seeing worrying _ what has triggered that? we are seeing worrying signs _ what has triggered that? we are seeing worrying signs of- what has triggered that? we are seeing worrying signs of that - seeing worrying signs of that infection spreading in beijing, more than a0 cases detected their, overthe more than a0 cases detected their, over the weekend. the response from authorities in beijing has been pretty much in line with what we have seen elsewhere in china, they have imposed lockdown on a0 buildings and ordered mass testing of residents. and, that's happening in chao young nsw district and downtown beijing, where many multinational districts have the headquarters with 3.5 million people live. yes people in beijing very much watching what's happening in shanghai and elsewhere across the country, that's why you see those reports of panic buying in the chinese capital. let's get some of the day's other news. the crew of the first fully commercial mission to the international space station are now heading back to earth. the spacex capsule, carrying three businessmen and led by a former nasa astronaut, is due to parachute into the atlantic off florida later on monday. the crew had spent more than two weeks on the space station, carrying out experiments. india's top retailer reliance says it has called off its $3.a billion deal with future group. reliance said it could not go through with it after some of future's creditors voted against it. the sale was at the centre of legal battles since 2020 after future's partner amazon.com legally blocked it. once india's second—largest retailer, future is now facing the prospect of a bankruptcy process. stay with us on bbc news. still to come: paradise found! howjamaica is rebuilding its tourism industry after the pandemic. we talk to the country's tourism minister. nothing, it seemed, was too big to withstand the force of the tornado. the extent of the devastation will lead to renewed calls for government help to build better housing. internationally, there have already been protests. sweden says it received no warning of the accident. indeed, the russians at first denied anything had gone wrong. only when radioactivity levels began to increase outside russia were they forced to admit the accident. for the mujahideen, the mood here is of great celebration. this is the end of a 12—year warfor them. they've taken the capital, which they've been fighting forfor so long. it was 7 o'clock in the morning on the day when power began to pass from the minority to the majority. when africa, after 300 years, reclaimed its last white colony _ this is bbc world news. the latest headlines: victory for emmanuel macron, who has become the first french president to be re—elected for 20 years. marine le pen scoops her biggest ever share of the vote and vows to carry on fighting macron. will they or won't they? the twitter takeover drama over elon musk�*s $a3 billion offer continues with the company declining to comment on reports that its board has met with musk as it seriously consider his takeover bid. joining me now is russ mould, investment director, aj bell. russ, i wonder, russ, iwonder, these russ, i wonder, these reports that twitter might be considering the offer seriously, what more do we know about that? is this becoming from pressure from shareholders? it from pressure from shareholders? ., , , ., shareholders? it does seem to be, the reports _ shareholders? it does seem to be, the reports on _ shareholders? it does seem to be, the reports on your- shareholders? it does seem to be, the reports on your own i be, the reports on your own website and other news sources over the weekend suggested have been several large shareholders who have said to the twitter board it is their obligation to shareholders to consider the offer. intriguingly, the price from mr musk is $2a a share, the share closed around $a9 so the share closed around $a9 so the opening bid situation, it will move quickly towards the price or even above it if they think they could be competition for the company and intriguing that the share price is still below the offer price, suggesting maybe the shares are not default —— shareholders are not default —— shareholders are not convinced that twitter will go through the bed.— go through the bed. does it need that — go through the bed. does it need that extra _ go through the bed. does it need that extra capital - go through the bed. does it need that extra capital and | go through the bed. does it| need that extra capital and if so, what for?— so, what for? one of the intriguing _ so, what for? one of the intriguing things - so, what for? one of the intriguing things about i so, what for? one of the - intriguing things about twitter is it's not really consistently made any money since it was floated in november 2013 so you could argue that bidding $a3 billion for a company with $6 billion for a company with $6 billion are forecast sales this yearin billion are forecast sales this year in which is estimated to turn into a loss is a generous price you could understand why some shareholders may be keen to decide to try to pressure the twitter board into accepting the bid, mr musk has said he feels the company is not managed and by implication it should make a lot more money and so that's something we will find out in the fullness of time if he got his hands on it what he would do with it. in what he would do with it. in which case, if the pricing is —— price he is offering is a generous one, why is the board not champing at the bit to accept the offer?- not champing at the bit to accept the offer? perhaps they ma well accept the offer? perhaps they may well enjoy _ accept the offer? perhaps they may well enjoy being - may well enjoy being independent and mr musk in some way, his twitter account has been, i will freeze this carefully, a source of some discomfort. he has made some very, very strong and occasionally outlandish statements on twitter and even allegations that when he launched the putative bid for tesla a couple of years ago that there were allegations cast around than of market manipulations which the security and exchange commission did not investigate i would imagine in some ways you can imagine the relationship between twitter and mr musk is a little bit fractious. and mr musk is a little bit fractious-— and mr musk is a little bit fractious. , , ., ~' , ., and mr musk is a little bit fractious. , , ., ,, , ., ., fractious. russ, thank you, and thank you _ fractious. russ, thank you, and thank you for— fractious. russ, thank you, and thank you for choosing - fractious. russ, thank you, and thank you for choosing your - thank you for choosing your words carefully. mr; thank you for choosing your words carefully. when you think of holiday destinations, jamaica is often pretty high on the list with its blue seas, golden beaches and a vibrant culture. but the pandemic and following travel restrictions hit jamaica's tourist industry hard, resulting in a huge loss of jobs, businesses and earnings. but recent research from the world travel and tourism council expects the travel and tourism sector to create nearly 126 million newjobs within the next decade with travel and tourism gdp recovering to 2019 levels by 2023. so, willjamaica be part of that rebound picture? in the uk, as part of a global tour to mark the 60th anniversary of independence injamaica, the minister for tourism edmund bartlett is keen to tell the world that jamaica is open for business. joining me now is edmund bartlett, minister of tourism, jamaica. good to see you. firstly, why should people choose jamaica over anywhere else that may be high on their list?— high on their list? jamaica is the finest — high on their list? jamaica is the finest country _ high on their list? jamaica is the finest country with - the finest country with hospitality culture, beautiful physical features, hospitality culture, beautiful physicalfeatures, wonderful people and the greatest asset of all for us is our people. this wonderful mix of ethnicity and culture strains that cover almost every nation and nationality can be found in jamaica. our motto out of many, one make the point, it makes it extremely clear that you have a place injamaica and you can find yourself there, so that's your oyster, enjoy it. {lilia your oyster, en'oy it. ok, there willh your oyster, en'oy it. ok, there will be _ your oyster, enjoy it. ok, there will be some - your oyster, enjoy it. ok,| there will be some people your oyster, enjoy it. ok, there will be some people who hear you say you have a place in jamaica hear you say you have a place injamaica but hear you say you have a place in jamaica but for example, lgbt+ travellers will be looking at the laws there and how they are often used as a way for people to excuse violence or aggression towards 93v violence or aggression towards gay and lesbian and bisexual and transgender people. is it safe for them to visit? do you welcome lgbt travellers? irate welcome lgbt travellers? we welcome lgbt travellers? we welcome lgbt _ welcome lgbt travellers? - welcome lgbt travellers, all travellers, diversity is a feature of our offering. we offer no discrimination whatsoever, jamaicans are welcoming to all visitors. everywhere in the world you go, there are cultural nuances and people recognise that tourism has this ethics and tourism also has this responsibility. we are a very responsible destination, so we care for every visitor who comes to our destination.— destination. and on a related oint, destination. and on a related point. the — destination. and on a related point, the figures _ destination. and on a related point, the figures for - destination. and on a related point, the figures for safety i point, the figures for safety and security there may be cause for concern for some people. i was looking at the jamaican constabulary reports, 1a00 deaths, 1a00 murders in 2021. is it a safe destination? jamaica's records for visitors is absolutely enviable. less than 1% of all crimes that are committed anywhere is against visitors. there is a safety, security and a seamlessness that characterises the experience of visitors come to jamaica. the result is we have a a2% repeat business, but his most enviable, and our destination shows this. we have been growing since the responses to covid—19, jamaica is the fastest—growing destination for tourism in the caribbean. our city of montego baye has been voted the second fastest recovered city since covid, next only to put turkana so our record on visible ——on the ——on visitor safety is enviable. britons are safe, they come here in droves, 15— 18,000 uk tourists come to jamaica every month and that is a strong statement of confidence in the destination, and we are proud of our record in tourism. edmund bartlett. thank you forjoining us. thank thank you for 'oining us. thank ou, thank you for 'oining us. thank you. thank— thank you forjoining us. thank you. thank you _ thank you forjoining us. thank you, thank you so _ thank you forjoining us. thank you, thank you so much - thank you forjoining us. thank you, thank you so much and i l you, thank you so much and i look forward to welcoming you in jamaica look forward to welcoming you injamaica shortly! i look forward to welcoming you in jamaica shortly!— in jamaica shortly! i hope so, if i in jamaica shortly! i hope so, if! aet in jamaica shortly! i hope so, if i get some _ in jamaica shortly! i hope so, if i get some time _ in jamaica shortly! i hope so, if i get some time off, - in jamaica shortly! i hope so, l if i get some time off, maybe! absolutely, you should. this is how the markets _ absolutely, you should. this is how the markets are _ absolutely, you should. this is how the markets are looking, l absolutely, you should. this is i how the markets are looking, as you can see, the asian markets sank in the monday session, largely because of growing concern of a possible sharp hike in us interest rates and of course that has an impact beyond the us�*s own borders, this is the struggle to contain runaway numbers. you can reach me and the team on social media. thank you for watching and i will see you very soon. goodbye. hello. the weekend brought us lots more dry and settled weather. now, april 2022 is turning out to be a notably dry april, particularly towards the south. this was the picture as the sun set in north yorkshire sunday evening, and we've got a bit more of the same, so no great changes in the weather forecast over the next few days — it stays mainly dry and settled. you'll notice it'll be a little bit cooler and cloudier compared to the weekend, but also less of a breeze around, too. high pressure in charge of our weather at the moment, sitting to the north of the uk, but over the next few days, it drifts further south, sitting right across the uk by the time we get to wednesday. so, monday morning, then, temperatures a—8 degrees in our towns and cities, a bit colder than that in the countryside first thing, so a fresh start to the day. most places largely dry with some sunshine. a little bit more cloud drifting in from the east compared to recent days, bringing a few showers to parts of eastern england through the morning and later in the afternoon. as the cloud bubbles up, could be one or two morejust drifting their way west across central parts of england and wales, too. but many places staying dry, avoiding those showers. temperatures 16 degrees or so towards the south west but only ten under that cloud across the north east of scotland. through monday evening and overnight into tuesday, we'll see a bit more of that cloud in the north starting to try and push its way a bit further south, but clearer skies towards parts of england and wales mean we could just see a touch of grass frost heading into the early hours of tuesday morning. so, again, a bit of a fresh start of the day, but another predominantly dry, settled day. probably a little bit more cloud, particularly across eastern parts of scotland and england, too. just one or two rogue showers, i think, developing during the afternoon, so a little bit more cloud than recent days, still some sunshine, still mild towards the south, 16 or 17 degrees, but temperatures are going to struggle to get out of single figures for north east england and eastern scotland with that cloud around. the breeze coming off quite a cool north sea over the next few days. a similar picture into wednesday — north—easterly breeze, but light winds for most. predominately dry once again but a bit more cloud around, particularly towards the east, and temperatures between about 9 to 1a degrees by this stage in the week. high pressure, then, moves its way further south. not many isobars on the map here as we look through thursday and, in fact, into friday, too. so, the weather looking predominantly dry, variable amounts of cloud, some sunny spells and temperatures getting into the mid teens for most of us, but it will be a largely dry end to a dry month. bye— bye. good morning, welcome to breakfast with dan walker and sally nugent. our headlines today. emmanuel macron has been re—elected as french president. he vowed to unite the country after defeating the far right candidate marine le pen. president zelensky has met the united states' top diplomat, the first time a senior us official has visited ukraine since the war began. no time to wait. rob burrow urges the government to free up £50 million of funding for motor neurone disease after researchers say they haven't received a penny so far. use it or lose it, that is the warning to people with these little

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