Transcripts For BBCNEWS World 20240703

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room with western leaders talking about that. and today at a press conference ahead of those discussions between president erdogan and putin, the two of them in front of the cameras laughing and smiling before they sat down to sort of lay out the agenda for the day. so certainly president erdogan will be hoping he can come to some sort of an agreement, some sort of breakthrough, some sort of way to get russia back on board with renewing this grain deal because as we have seen, it has been crucial to the global community to getting food where it needs to go, for providing security for farmers across ukraine, that there are buyers out there that can get the crops they need. that their storage facilities have room for the new crop coming in, it is how the season now, so a lot of questions about what will happen. the two sides seem fairly optimistic, the turkish side seems optimistic, the turkish side seems optimistic they can come home for a —— with the deal. global food security is one the biggest concerns for the international community, but it's also a major concern for turkey too, right? yes, that is the case. the un says 33 million tonnes of grain products and otherfood products have passed through the black sea, through this grain deal. there are things like wheat and corn and sunflower products used across the world, like sunflower oil, which are made into other products. it left three ukrainian ports to 45 different countries. it short of so see the scale of this deal and how important it is. turkey was one of the biggest beneficiaries and i think that is part of this conversation for president erdogan, one of the biggest recipients of food products from ukraine and then takes it, refined it, re—processes it and export it to the middle east and africa, to countries that need those products. it is an economic advantage for turkey to do that. if you think about domestic issues here that president erdogan is dealing with after a hard—fought election when the summer, the ground —— macro economy was top of mind for many voters and it has a huge account deficit, which means it is spending a whole lot more importing goods thanit a whole lot more importing goods than it is making exporting goods. russia is one of turkey's biggest trade partners. so the result of this fine line president presidenerdogan will be walking today. he will be getting pressure from western diplomats and countries to get a deal from from western diplomats and countries to get a dealfrom russia from western diplomats and countries to get a deal from russia to restart this deal but president erdogan who had domestic issues that upper mind, like the economy, will want to be careful about not alienating russia when it comes to getting them in line with what the west wants. thank ou ve line with what the west wants. thank you very much _ line with what the west wants. thank you very much for — line with what the west wants. thank you very much for the _ line with what the west wants. thank you very much for the update - line with what the west wants. thank you very much for the update from ankara, victoria craig. we will update our viewers as soon there are any updates from sochi. china has confirmed that xijinping will miss the upcoming 620 summit in india. beijing has said that premier li qiang will attend instead. china's foreign ministry did not specify the reasons behind president xi's absence. the announcement takes place against a backdrop of china and the us trying to reset relations from a historic low point. but it has also been viewed as a blow to india's prime minister narendra modi and highlights disagreements between 620 members. joining me now is rory green. he is the chief china economist at ts lombard. how do you read xi's absence from the summit? how significant is it? hello. it is very significant. _ how significant is it? hello. it is very significant. it _ how significant is it? hello. it is very significant. it is _ how significant is it? hello. it is very significant. it is difficult - how significant is it? hello. it is very significant. it is difficult to | very significant. it is difficult to really put ourfinger on very significant. it is difficult to really put our finger on why he is not going but it is the first time since he became president that he has not attended. it looks like a combination of domestic and international factors that are at play here. domestically, the economy in china is weak, that is for sure and president xi has a very important set piece political event coming up in october, november. it happens once every five years. really important for the political economy and that may be keeping him in china rather than travelling to india. but as you highlighted, the international aspect, this widens divisions the us and china and i agree it is a snub to modi. the financial retirement is reporting that chinese banks have extended billions of dollars to their russian counterparts after western sanctions where it cause impose lazio. —— were imposed last year. how is this report square with your knowledge of china—russia trade relations? china — russia economic relations have only got closer since the russia — ukraine conflict began and a key part of that has been financial. almost the entire western financial. almost the entire western financial sector has been cut off from china, sorry, from russia, with china stepping in to fill that void. a big gain in market share for the chinese banks and a big increase in russia. and in the economy, increase in trade, oil, commodities, manufactured goods, big gains for china across the board with its russian ally.— china across the board with its russian ally. let's talk about the chinese preperty _ russian ally. let's talk about the chinese property sector. - russian ally. let's talk about the chinese property sector. the - russian ally. let's talk about the | chinese property sector. the huge chinese property sector. the huge chinese developer country garden has clinched a debt deal. huge concern about their debt so it is a big deal. what is the state of the property sector which accounts for a quarter of the chinese economy? that is riuht. quarter of the chinese economy? that is right- the — quarter of the chinese economy? twat is right. the sector as a whole is in structural decline. it is about 20% too large for underlying demand and this grinding contraction in the sector is going to rumble on for a number of years. cyclic lay, there are a few positive signs, some major easing pressure is coming from beijing and this renegotiation of country garden, and also paying some interest on overdue debts over the weekend. so a few positive measures but overall, it's still very picture, with country garden facing four or five key tests this month alone, interest payments on the fed, 17, 19, 24th, 27th, so the alone, interest payments on the fed, i7, 19, 24th, 27th, so the problems have not ended by any means for country garden or the wider sector. testing times to come. great to see you, rory green, thank you for your analysis. it's labor day in the us today — a blue—collar public holiday that marks the end of summer. but a potential strike is looming over the big three detroit carmakers — as the union representing about 150 thousand workers at ford, general motors and jeep parent stellantis seeks a 40% pay raise and better benefits. michelle fleury reports from new york. how far are you willing to go to get the contract you deserve? cheering the newly elected head of the uaw, shawn fain, talking tough. he's taken an aggressive approach to negotiations ahead of the expiration of the uaw�*s four—year contract with general motors, ford and stellantis, the parent company of chrysler, repeatedly pointing out that together they've made $21 billion in profit in the first half of this year. we've been breaking our backs while the big three have been breaking the bank. the big three can afford to share their record profits with the auto workers who make this industry run. they just don't want to. in 2008, the auto companies nearly collapsed. workers accepted major concessions to help save the industry. the uaw says it's time they were repaid. their demands include an end to wage tiers where new hires make up to 25% less than older hires, a double—digit pay increase, and pensions for all workers. observers warn a strike is likely since auto—makers won't agree to anything that would add billions to their costs when they're spending heavily on the move to electric vehicles. putting yourself back in that position where you have exposure to a long—term cost that you can't control is is a real big mistake. so they probably can't rightfully take a lot of these concessions back. with negotiations ongoing, gm said in a statement, ford said it was working on creative solutions, whilejeep maker stellantis said discussions continue to be constructive and collaborative. the tension comes at a key moment for america's labour movement. the teamsters recently won concessions from ups, while hollywood remains paralysed by the actors' and writers' strike. this isn'tjust about the uaw. this is about the social inequality that exists in this country. uaw organizer daniel vicente says members are ready to walk out. the wall street analysts are looking at this on paper, they're looking at it as numbers. what we're trying to tell you is this isn'tjust about money. and so some of america's biggest industrial names and its workers inch closer to a shutdown — one with big implications for the us economy. michelle fleury, bbc news, new york. in other news.... ryanairflew 18.9 million passengers in august, up i2% from 16.9 million in 2022 and an all—time record for the airline. its previous record was 18.7 million passengers injuly this year. europe's largest airline by passenger volume says it expects traffic in this financial year to grow by 9% to around 183.5 million passengers. here in the uk, mps have questioned asda over whether issues over its finances are stopping it doing more to tackle soaring prices. in a letter to one of its co—owners, the billionaire issa brothers, the committee demanded an explanation of the grocer�*s "complex" company structure and details about loans and investments. an asda spokesman said it was co—operating with the committee's inquiry. barbie has become this year's biggest box office hit so far, overtaking the total taken by the super mario bros movie. the barbie movie has now made $1.11 billion globally, beating the $1.3 billion taken by super mario bros. that is it for me, you are up—to—date with the business stories. i will be back later with a little more, thank you for watching. this is information about what it is, how to use it and where to find and it has a handy little map which shows locations. it's available to suppliers across a set including pharmacies. it is either an injection or nose spray. pretend this is a receptor in your brain. when an opioid —like heroin is injected into the body, its molecules attach on top of the receptor. when monoxide is taken, it knocks off the opioids, which can reverse the effects of an overdose. it can work in just two or three minutes. to get it to someone in need quickly, more people need to start carrying it around with them just in case. start carrying it around with them just in case-— just in case. there is quite a big u take in just in case. there is quite a big uptake in peeple _ just in case. there is quite a big uptake in people taking - just in case. there is quite a big uptake in people taking it - just in case. there is quite a big uptake in people taking it but i just in case. there is quite a big - uptake in people taking it but lower on people carrying it. more uptake in people taking it but lower on people carrying it.— uptake in people taking it but lower on people carrying it. more than 400 avon and somerset _ on people carrying it. more than 400 avon and somerset police _ on people carrying it. more than 400 avon and somerset police officers . avon and somerset police officers have been trade to use naloxone. this app is encouraging others to do the same, especially those who might come into contact with drug users, such as family members, friends or those who work in busy places. so more people have access to this life—saving medicine. hello from the bbc sport centre. the 12 players on europe's ryder cup team are being announced this afternoon. the match with the united states starts on the 29th september in italy, and the europe's luke donald has his six wild card picks for the team. so far they include, england's tommy fleetwood, justin rose, shane is also in. an incredible rise for those players who will join incredible rise for those players who willjoin the six highest ranked automatic pics. rory mcilroy, jon rahm, scotland's robert macintyre, viktor hovland, tyrrell hatton and last year's us open champion matt fitzpatrick. but it's the pick of aberg, that's captured the attention. he won the european masters this weekend, injust his ninth professional start, after only turning pro injune! the 23—year—old swede is tipped for big things in his career — and said after his selection by donald, �*if you would have told me a couple of months ago i would be in these conversations i probably would not have believed you'.... much of the alk following arsenal's late comeback win over manchester united has fallen on the fitness of united forward jadon sancho... declan rice and gabrieljesus scored the two crucial ones in a 3—1win... but sancho's hit back over comments made by his manager... sancho says he's been made a scapegoat at the club.

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