Transcripts For BBCNEWS World Business Report 20240708

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or around the world. i'm ben thompson. we start with the eu's efforts to ban imports of russian oil and gas, as the war in ukraine goes on. and whilst there's still no agreement, germany's position is changing. chancellor scholz says he's now ready to speed up a ban of russian oil, despite sourcing around 12% of its supplies from the country. it now says it will find alternative sources, if given time to prepare. but that is just one hurdle. eu energy ministers attending an emergency meeting in brussels are still some way off agreement, with hungary one of the key opponents of a ban. in all, the eu spends $47.5 billion a year on oil and gas from russia. so can it wean itself off the supplies? it could look at lithuania as an example. in 2014, it sourced all its gas needs from russia. but then it took a big decision. it set up its so—called "independence" terminal to import liquified natural gas. and this year, it imported no gas at all from russia. so it's possible, but it takes time. joining me now is amrita sen, director of research at energy aspects. good to see you. we are told they are edging closer to an agreement but there is no agreement but there is no agreement yet and it underlies how difficult it is. the political will might be there but the economic reality is very different.— but the economic reality is very different. you are spot on with that, _ very different. you are spot on with that, absolutely. - very different. you are spot on with that, absolutely. we - with that, absolutely. we expect when of the ministers meet tomorrow, they will probably be more progress but the main thing to come out the meeting will be the source of disagreement. in germany, yes, they are now talking about rerouting some of the oil. it will probably have to take over a refinery. italy is talking about similar things in its country. you cannot expect russian firms to stop importing from russia so that will be an element of nationalising some of these assets and then weaning itself off russian oil. it will take time. germany says it is optimistic and will manage to do this by the end of this year. it is going to be expensive and that ultimately is the reason why they are focusing on oil and not gas because of the ramifications for the economy and society of coming off russian gas is significant and germany in particular is very worried about that because it does not necessarily see russia not getting its revenues if oil and gas prices go up, even if russia sells less of its overall revenue. it russia sells less of its overall revenue.- overall revenue. it is interesting _ overall revenue. it is interesting the - overall revenue. it is i interesting the change overall revenue. it is - interesting the change in tone from germany. it had been a bit more reluctant given its dependence on russian oil and gas. poland also pushing for it. hungary one of the countries proving an obstacle. colin has offered to help countries maybe struggling to find alternative supplies. —— poland. what might that help look like? poland does not have a huge energy reserves.- a huge energy reserves. poland miaht a huge energy reserves. poland might offer— a huge energy reserves. poland might offer some _ a huge energy reserves. poland might offer some coal- a huge energy reserves. poland might offer some coal and - a huge energy reserves. poland might offer some coal and i - might offer some coal and i think that is kind of the issue right now because weaning yourself off russian oil and gas and gas in particular in the interim might shift us back to using more coal and that would be at odds with the energy emission targets. maybe thatis energy emission targets. maybe that is the dichotomy for a lot of countries and germany has been very clear in saying that you want to keep the lights on because without russian gas, even with more energy coming in, there's serious risks of blackouts in the coming winter and i don't think country can afford that. it and i don't think country can afford that.— afford that. it is really good to net afford that. it is really good to get your _ afford that. it is really good to get your thoughts - afford that. it is really good to get your thoughts and i afford that. it is really good | to get your thoughts and we will talk about this some more as we get further news from the emergency meeting but as yet no agreement. thank you. workers at an amazon warehouse in new york have overwhelmingly voted agaisnt forming a union. overwhelmingly voted against forming a union. the results come just a month after a neighbouring facility made history by becoming the first amazon warehouse in america to form a trade group. the decision will come as a blow to the labour organization that was keen to further cement its power against the e—commerce giant. the bbc�*s business correspondent samira hussain has more from new york. despite a history making vote at one amazon warehouse, more than 60% of voters as a second facility in new york said no to forming a trade union. the result is a blow to the labour group which was open to further increase its support at other warehouses and also raises questions about the strength of the labour movement with some wondering if last month's successful bid was perhaps a fluke rather than the beginning of a tidal wave of organised labour. some anti— union practices deployed by amazon were reported at the warehouse in new york. there were anti— union flyers, urging voters to vote no. please with this outcome, roe versus wade said again that a union is not in the best interest. that — amazon said union is not in the best of workers. meanwhile, the final outcome of another union drive in alabama is still up into the air. a few hundred ballots are contested. how they are adjudicated will ultimately be the deciding factor on the future of workers at that warehouse. high energy costs across europe are encouraging more uk manufacturers to seek alternative energy sources and become more energy efficient. that's according to new research published today by the manufacturers' organisation, make uk. it says nearly two thirds of manufacturers have taken action to become more green in the past 12 months. joining me now is seamus nevin, chief economist, at make uk. some good news in that sense that one of the bowlers of the energy crisis is that people are looking for alternative sources and one could be greener, cleaner energy. absolutely. british manufacturers have long led the way in terms of innovation. some of the technologies we use our world leaders and on the back of cop26, manufacturers have taken on the mantle of moving towards net zero. two—thirds of manufacturers have made changes to move toward that target. when we look back at firms where almost a year ago it was a priority for next to no—one in the industry and now over two—thirds say it is a key target for them, the net zero. many of them will want to do it for a competitive advantage. by moving to net zero by developing new products, saving costs internally or because of that customers are driving them to do so. it is very encouraging to see. to do so. it is very encourautin to see. ~ . . encouraging to see. what are the challenges? _ encouraging to see. what are the challenges? in _ encouraging to see. what are the challenges? in our- encouraging to see. what are the challenges? in our first . the challenges? in our first interview, we were talking about how eu leaders are struggling to find alternative sources of energy. it sounds goodin sources of energy. it sounds good in theory but in practice it is often very difficult. what are individual businesses facing? it is not as easy at it sounds to go green? it facing? it is not as easy at it sounds to go green?- facing? it is not as easy at it sounds to go green? it can be difficult. it— sounds to go green? it can be difficult. it is— sounds to go green? it can be difficult. it is coming - sounds to go green? it can be difficult. it is coming off - sounds to go green? it can be difficult. it is coming off the l difficult. it is coming off the back of a turbulent period for british businesses which began really with the exit from the european union, the change to supply chains, followed by the covid—i9 lockdowns and disruption to supplies and more recently the energy costs going up recently the energy costs going up partly on the back of the warwick on ukraine. — — war. this isjust providing warwick on ukraine. — — war. this is just providing a warwick on ukraine. — — war. this isjust providing a new opportunity and extra impetus and companies looking to cut costs and it is not always expensive to do so. sometimes it is simple measures, like moving a supplier closer to home, cutting the amount of transport used on site so you don't have to move logistics around your factory point and therefore you are saving money on your carbon footprint but it can also be done in more high—tech ways. electronic sensors to monitor things. and looking at how your production works across the board. looking to use better insulation, for either heating or cooling purposes. one third are looking to produce their own green energy on—site. there are a whole range of methods. it is great to see the amount of innovation and imagination use right across the board by different businesses in different businesses in different ways, looking at every avenue they can explore to return that zero target. let's hope it continues as well. great first moves. thank you very much. for some years now, ukraine's capital, kyiv has had a thriving technology sector. it's been called ukraine's �*silicon valley', and it's helped give birth to a number of successful startu ps. but how is it coping in the face of russia's invasion? aaron heslehurst has been speaking to vera kuchenko. she's the chief technology officer of kyiv—based software company, macpaw. he started by asking how bad the damage is to communications equipment on the ground. i have seen some reports from providers and around 10% of our inaudible were destroyed but it does not affect the operation networks so it works. we know elon musk _ networks so it works. we know elon musk made _ networks so it works. we know elon musk made an _ networks so it works. we know elon musk made an offer- networks so it works. we know elon musk made an offer back| networks so it works. we know i elon musk made an offer back in february to make satellites available over ukraine to assist in internet coverage and this was to help replace damaged ground—based systems. the so—called styling system. has that help? the so-called styling system. has that help?— has that help? the stations, used by military, _ has that help? the stations, used by military, civilians, . used by military, civilians, governments all around the country. i have a personal story, my partner is in the military on the front line and i can talk to him just because we have styling station so it works. have you been able to use your technology to state in touch with your staff we created a solution which is a dedicated website. it specifies where they are located if they are ok,... where they are located if they are 0k.---_ where they are located if they are ok,... there is the visible war involving _ are ok,... there is the visible war involving military - are ok,... there is the visible l war involving military hardware but there is the unseen cyber attacks. how has the country coped? attacks. how has the country coed? �* , �* ., attacks. how has the country coed? �* a ., ., , coped? inaudible for example, the tv power— coped? inaudible for example, the tv power in _ coped? inaudible for example, the tv power in kyiv _ coped? inaudible for example, the tv power in kyiv was - the tv power in kyiv was attacked and they perform cyber attacks on the same day on the web services of our media companies. they are done at the same time to make it more difficult to get information because information is a great power. ukraine is the second country inaudible just before the united states. country inaudible 'ust before the united states._ the united states. vera kuchenko _ the united states. vera kuchenko from - the united states. vera | kuchenko from macpaw. let's get some of the day's other news. the european commission has accused apple of abusing its market position for contactless smartphone payments. in a preliminary finding, it said the us company may have broken competition law by preventing rivals from accessing its "tap and go" technology. apple denies the charge and has promised to engage with the commission. citigroup has acknowledged that one of its traders made an error when facilitating a transaction. the mistake had led to the sudden and sharp fall of european shares early in the day. the company said in a statement that they corrected the mistake, quote, "within minutes." stay with us on bbc news, still to come: re—open for business. new zealand welcomes tourists after its long lockdown. i'll speak to the man in charge. i, nelson rolihlahla mandela, do hereby swear to be faithful to the republic of south africa. after six years of construction and numerous delays, the channel tunnel has been formally opened by the queen and president mitterand. but the tunnel is still not yet ready for passengers and freight services to begin. for centuries, christianity and i islam struggled for supremacy. now, the pope's visit - symbolises their willingness to coexist. roger bannister became the first man in the world to run a mile in underfour minutes. memories of victory as the ve celebrations reach their climax. this night is dedicated to everyone who believes in the future of peace and freedom. this is bbc world news. the latest headlines: the us political website politico says it has seen a majority opinion leaked from the supreme court saying it has voted to strike down the landmark roe versus wade decision which legalised abortion. attempts to evacuate more civilians from the devastated city of mariupol have stalled. ukrainian officials say russia has ended a ceasefire and it's now blocking humanitarian corridors. wall street ended a volatile trading day higher on monday and benchmark us. treasury yields breached the 3% mark as investors braced for a widely anticipated us federal reserve interest rate hike. all three major us stock indexes gyrated between positive and negative territory throughout the session, and the 10—year treasury yield touched its highest level in more than three years. joining me now is gervais williams, head of equities, premier miton. look, premier miton. what's going on, been pretty look, what's going on, been pretty volatile but a lot more investors to get their head around? ~ . , . ., around? we are expecting a ma'or around? we are expecting a major interest _ around? we are expecting a major interest rate - around? we are expecting a major interest rate rise - around? we are expecting a major interest rate rise this| major interest rate rise this week the biggest one for the last 20 years in the us, half a percent, it could be more, it could be up to three quarters because as we get closer to the elections later in the year gets harderfor the federal reserve to interest rates, expect half a percent this year, on wednesday, also an interest rate from the bank of england half a percent, we have seen on australian interest rate rise, taking people unexpected.— rate rise, taking people unexpected. rate rise, taking people unexected. ~ . , unexpected. we are in this new time of raising _ unexpected. we are in this new time of raising -- _ unexpected. we are in this new time of raising -- rising - unexpected. we are in this new time of raising -- rising rates l time of raising —— rising rates with so many repercussions across the real economy, some of those things factored in already, investors getting their heads around some of those things, but a slowdown in china has spooked investors because it accounts for so much world trade?— world trade? unfortunately the covid-19 lockdowns _ world trade? unfortunately the covid-19 lockdowns in - world trade? unfortunately the covid-19 lockdowns in china . world trade? unfortunately the | covid-19 lockdowns in china are covid—i9 lockdowns in china are having a major effect on economic growth, making a difference to the world because china itself, because it's such a large economy and has grown so rapidly contributed 40% of world growth in the last decade. with those interest rate rises quieter slowdown in activity in the later part of this year. activity in the later part of this year-— activity in the later part of this ear. . , , this year. so many things we are keeping _ this year. so many things we are keeping an _ this year. so many things we are keeping an eye _ this year. so many things we are keeping an eye on, - this year. so many things we are keeping an eye on, wage growth, rising energy prices, increases with tax in particular to pay for the pandemic, interest rates, taken together, that means we have less money in our pockets and fundamentally that's what businesses are worried about? what we are worried about is a decisive slowdown later this year, we don't know the future but it seems almost inconceivable the world will move into recession late this year or early next year that would have a huge effect on people, notjust the people, not just the unemployment people, notjust the unemployment but the wage, the increased cost coming through from increases in cost of food, inflation, mortgages, so we're looking at a major slowdown in stagflation coming up.- looking at a major slowdown in stagflation coming up. there is a cheery thought. _ stagflation coming up. there is a cheery thought. thank - stagflation coming up. there is a cheery thought. thank you i stagflation coming up. there is| a cheery thought. thank you for joining us. good to have your thoughts. new zealand reopened its borders on monday to more international visitors after a pandemic ban lasting more than two years. new zealand's economy is heavily reliant on tourism and so travel firms, hotels and tourist destinations are keen to welcome back foreign visitors. before the pandemic, more than 3 million tourists visited the country each year. the uk was the fourth largest market, making up 6% of total arrivals, spending more than $350 million us. people from more than 60 countries are now able to enter the country if they're vaccinated and test negative. joining me now is rene de monchy, chief executive, tourism new zealand. congratulations, the doors are re—open increased in. i was at airport yesterday welcoming the first flights, fantastic to see people coming back into the country to visit. how difficult has it been for your tourism industry hugely reliant on foreign visitors who have not been able to get there? it has been able to get there? it has been able to get there? it has been a dramatic _ been able to get there? it has been a dramatic couple - been able to get there? it has been a dramatic couple of - been able to get there? it has i been a dramatic couple of years i talk about it being a brutal couple of years, eight and a half million was the tourism spendin half million was the tourism spend in new zealand, for some parts of the set they have not been able to survive, others have tried to fill the gap with domestic tourism, but it has certainly been a very tough more than two years with closed borders. ~ . ., , , borders. what will tourists find when _ borders. what will tourists find when they _ borders. what will tourists find when they get - borders. what will tourists find when they get back, i borders. what will tourists find when they get back, a borders. what will tourists i find when they get back, a lot of businesses have not been able to survive, not surprising given the near total shutdown. what state is the tourism industry in right now? having said that there _ industry in right now? having said that there are _ industry in right now? having said that there are a - industry in right now? having said that there are a lot - industry in right now? having said that there are a lot of. said that there are a lot of businesses that have managed to adjust a domestic offering and have stayed open, stayed alive, during the pandemic. the good thing is now we have certainty with the board openings businesses can start to reinvest, rehire staff and look forward to the future, fundamentally, what will —— people will find when they come to new zealand, the core is what attracts people is the beautiful scenery and variety of landscapes, and the warmness and friendliness of the people, that remains unchanged post covid—i9. what we are going into is a period of time when industry is scaling up as we go towards our summer at the end of this calendar year. that scalini of this calendar year. that scaling no _ of this calendar year. that scaling up challenge - of this calendar year. that scaling up challenge repeated around the world, seeing it across europe, especially the uk, a lot of airlines struggling to get staff, airports struggling to hire people like baggage handlers to cope with the revival because a lot have retrained and gone elsewhere. are you confident you have the staff you need for the industry? it you have the staff you need for the industry?— the industry? it is certainly the industry? it is certainly the topic — the industry? it is certainly the topic of _ the industry? it is certainly the topic of the _ the industry? it is certainly the topic of the day. - the industry? it is certainly the topic of the day. that i the industry? it is certainly| the topic of the day. that is the industry? it is certainly i the topic of the day. that is a much more positive challenge to be facing than the ones we have faced over the last two years but it is certainly the topic of the day. what helps us we are going into our winter, that is when we get some australians to ski, some from other wrongful markets but the peak season starts more in october, november, heading into our summer, so that gives the industry a bit more of a runway to prepare, airlines more time to prepare, airlines more time to scale up, we are confident that will actually help in that regard helping scale up for next season.— regard helping scale up for next season. ., ., ., , ., next season. you have a bit of ahead start — next season. you have a bit of ahead start on _ next season. you have a bit of ahead start on all _ next season. you have a bit of ahead start on all of _ next season. you have a bit of ahead start on all of this - ahead start on all of this unlike the european summer right now. talk to me a bit about business travel, one of the sector still trying to recover, people thinking they will do it on soon, are you confident you will get business travel back with cities like auckland?— travel back with cities like auckland? ~ . , ., ., auckland? we are starting to see that across _ auckland? we are starting to see that across the _ auckland? we are starting to see that across the tasman i see that across the tasman australia being our closest market, what has changed over covid—i9 we are lot —— doing a lot more of this by zoom and skype, but as we are reconnect into the world, people are seeing the power of actually meeting physically, you cannot replace everything with virtual, and i think that's also a case with business. you see business traffic starting to start up again and people reconnecting and being able to shake hands, physically. goad shake hands, physically. good to talk to you, _ shake hands, physically. good to talk to you, through - shake hands, physically. good to talk to you, through the - to talk to you, through the power of the internet, and hope you can visit some time soon. you are up with all the world business. headlines coming up at the top of the hour. hello, there. cloud was the main weather feature for many places on bank holiday monday, and we take lots of that cloud with us into tuesday. the cloud showing up here on our earlier satellite picture. it is low cloud. it's turning things quite misty and murky in places, and there are some weak frontal systems, just providing enough impetus to give a little bit of rain and drizzle, here and there. but a mostly cloudy start to tuesday, some spots of rain and drizzle around, and where things brighten up, perhaps most especially in southern england and wales, where we see some sunshine, we will also see some scattered heavy showers and the odd thunderstorm breaking out into the afternoon. many spots will stay quite cloudy. rather cool for some north sea coasts. ten degrees for aberdeen and newcastle, 16 for cardiff, 17 in london, and we see some showery rain into northern ireland through the afternoon. that will push across a good part of scotland through the evening, and then getting down into parts of england and wales through the early hours of wednesday. but the rain, quite fragmented, quite hit and miss. there'll still be some lengthy dry spells, a mild start to wednesday morning. those outbreaks of rain brought about by this very weak frontal system. it's running into relatively high pressure, so that means it's certainly not going to be a wash—out. the rain, very hit and miss, very sporadic. some showery bursts of rain, tending to clear eastwards. then we'll see some sunshine on wednesday, some brighter skies, generally, but quite a few showers, some of which will be heavy and thundery. it will be a warmer day, highs, for many, between 15—19 degrees. and that theme continues, as we head towards the end of the week. high pressure building to the south, frontal systems running to the north—west of the uk, and this broadly south—westerly flow of air bringing some rather warm conditions in our direction. so, thursday looks like this. much of england and wales will be dry, with some sunny spells and just the odd shower. northern ireland and scotland seeing more cloud and some splashes of rain at times, but not all the time. but the temperatures, 15 degrees there for glasgow, 16 for belfast, but 21 in london, maybe somewhere towards the south east getting to 22 degrees. now, on friday, there'll some warmth once again towards the south east of the uk. but this band of rain looks like it will make some progress southwards, and behind that, something just a little bit cooler and fresher. so, temperatures of 12 degrees for stornoway, but 20 the high in london. good morning, welcome to breakfast with sally nugent and dan walker. our headlines today. attempts to evacuate civilians from a steel plant in the beseiged ukrainian city of mariupol are due to re—start this morning, as the russian bombardment intesifies. protests in america, as a leaked document suggests that the us supreme court could be about to overturn the nationwide legal right to abortion. bumper profits expected for bp. the oil and gas company's results are out this morning but as more and more families face fuel poverty, pressure grows for energy companies to pay more tax. this magnificent seven for ronnie o'sullivan who equals stephen hendry�*s record of world snooker titles and says he's coming back for more. counting down to kilimanjaro.

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