Transcripts For BBCNEWS Business Today 20241009 : comparemel

Transcripts For BBCNEWS Business Today 20241009

A typical temperatures to end the week, will be around 11 or 12 degrees. Over the weekend, temperatures will rise just a little, most of the rain is coming into Western Scotland and northern ireland. Much of england and wales, it should be a dry weekend. Some early mist and but otherwise some sunshine. China slaps new tariffs on brandy from the European Union are two of the worlds biggest Trade Blocs heading for full blown Trade War . More than a dozen Us States say that tiktok is dangerous and addictive for children. Welcome to business today. A row between two of the worlds biggest Trade Blocs is deepening with china announcing new tariffs on Brandy Imports from the European Union. It follows last Weeks Decision by the eu to push ahead with Import Taxes of its own on Electric Vehicles from china. Last Year China imported about 1. 8bn of brandy from the eu with the vast majority coming from france. From Friday Companies that import will have to pay a tariffs of up to 39 to the chinese government after they decided their own producers were being unfairly harmed. It follows the eu pushing ahead with tariffs of up to 45 of chinas Electric Vehciles which it says have benefitted unfairly from government help. Last Year Trade between the Eu And China was worth about 811 Billion after it fell last year. With more tariffs under consideration it could fall further. Martin chorzempa is a senior fellow with the Peterson Institute for international economics Think Tank in washington. As responses go, how does the impact of this levy on European Brandy compare to the eus tariffs on evs . It is much smaller than the European Unions effort, but it will have a big impact. They are trying to concentrate the pain on Electric Vehicles but the brandy produces will suffer pain as chinese consumers will probably switch beverages as the chinese economy is quite weak at the moment so the Price Sensitivity will be quite high. There was a hint that beijing is also looking at the Eus Pork exports, and if they are hit by a tariff, how much more serious is that . Serious is that . That could be serious is that . That could be serious for serious is that . That could be serious for spain serious is that . That could be serious for spain and serious is that . That could be serious for spain and they serious is that . That could be| serious for spain and they will go for other areas as well, so this is just the go for other areas as well, so this isjust the beginning of what china has telegraphed too many individual countries in the eu and the eu in general, that if the eu takes this step, which they see as wto rules compatible, the result of a long and carefully done investigation to try and calculate the subsidy level, china has made it clear they will retaliate against countries who voted for and may also retaliate against countries that voted against it out of frustration with the decision. They hope to forestall the decision but that was not successful. If forestall the decision but that was not successful. Was not successful. If things do aet was not successful. If things do get worse. Was not successful. If things do get worse, what was not successful. If things do get worse, what would i was not successful. If Things L do get worse, what would the all out Trade War between the Eu And China look like . The . Eu and china look like . They will not be Eu And China look like . They will not be a Eu And China look like . They will not be a trade Eu And China look like . They will not be a Trade War Eu And China look like . They will not be a Trade War and l Eu And China look like . Tue will not be a Trade War and the reason for that is that chine it really needs the eu, they need the market to be available for its Exports China really needs. It also needs to eu to not be fully in the camp of the us as china competes with the us as china competes with the us in terms of technology and the economy in general so it is very sensitive and china is going to make sure that this does not escalate too far and i think both sides want this to happen and want to avoid escalation but they will not be able to resolve it in the wto and hopefully after a few measures, things will calm down. Martin chorzempa, thanks. Staying with china and its Electric Vehicles. The boss of Ride Hailing Giant Uber has told the bbc that tariffs on those chinese Built Evs are delaying its plans to have more Electric Vehicles in its fleet. Thats because as well as the eu, canada and the us have also imposed tariffs on them. Theyre also concerned that unfair financial help from the chinese government is making those cars cheaper than they otherwise would be. Uber� s Chief Executive spoke to our business editor simonjack. I think cheap chinese vehicles are a good thing for the environment. And i will tell you, that china is transitioning from notjust being cheap, but also being high quality as well. And for us, we want to electrify our fleet, and we want to make sure that it is affordable for our drivers to switch over to evs. Now, the political considerations of tariffs, etc, are not something that we can comment on, etc, but our focus is on the environment and we think chinese vehicles that are low cost, that are high quality, could be a very important part of the switchover to evs. Do you have a view on tariffs . Good thing or bad thing . I dont have a view on tariffs. But they make these cheap cars and these high quality cars more expensive in some of your key markets. By what youve said so far, it would follow you think thats a bad thing. I think if im taking a pure climate view it would be a negative, just being honest. Are we just at a moment of Revolution And Disruption and that in all of these cases, where you have disruption, you have some people, some legacy players who dont make it . And are we at that moment right now . Listen, thats a definition of disruption, right . Every Revolution Change over in platform usually starts with a huge amount of momentum. And then youve got to keep pushing. Itll go through a period of difficulty, which i do think we are with evs, and youve got to keep pushing through. And the fact is that change can affect some players negatively, but this is a change In The Name Of climate and emissions. And i believe we have to keep pushing forward. More than a dozen Us States, including New York and california, are Suing Tiktok for allegedly misleading the public about the safety of the popular Video App and harming young peoples mental health. Michelle fleury is following these developments from New York. What more can you tell us about these allegations . You have more than a dozen Us States and they are bringing this Lawsuit alleging that tiktok is contributing to teenage mental Health Harm and they say it is done in multiple different ways, from how addictive the algorithm is, feeding content to young people, it keeps them on Social Media for long time, and also contributing to the problem when it comes to Things Like self image, so beauty filters, that was something that was mentioned, and that led to increased issues amongst young girls in terms of anorexia and notions of their appearance. There was also mention of this tiktok viral trend where people are encouraged to try something thatis are encouraged to try something that is a bit risky and in some cases they say this has been deadly, and they mentioned, for example, tiktok videos of a 15 year old boy who rode on a Subway Car in manhattan, and he died and it was found he had previously watched Tiktok Videos On Subway Serving so they said it was encouraging dangerous behaviour. They are hoping to raise awareness but also to impose a financial penalty on tiktok to change its behaviour. We have reached out to tiktok for comment but we have not had any response to the latest Lawsuit. The latest Lawsuit. Why are the latest Lawsuit. Why are they picking the latest Lawsuit. Why are they picking on the latest Lawsuit. Why are they picking on tiktok . The latest Lawsuit. Why are| they picking on tiktok . You could make any of these kind of allegations against any of the other Social Media platforms. If you go back a couple of months, the Attorney General in New York was one of 33 Attorney Generals who was involved in a Lawsuit against meta which is the company behind instagram, and there is broad concern about how this is contributing to a mental Health Crisis amongst teenagers and we saw meta introduce parental controls and tiktok has some but they have been accused of not going far enough and that this is window dressing, if you like. The other thing, it comes at a difficult time for tiktok, theirfuture is in the balance in america. Their future is in the balance in america their future is in the balance in america. Thanks for oining us. In other news. A Uk Engineering firm has announced it is cutting jobs and furloughing staff after being hit by the ongoing strike at boeing. Senior, which makes high tech components for Aerospace And Defence companies told shareholders that the commercial Aerospace Manufacturing Industry is facing significant headwinds, which are hitting demand for its products. A short time ago shares in senior were down nearly 13 in london. Social media users in the eu will be able to challenge decisions by platforms to remove posts and videos for breaking their rules or leave up others that may violate them. An out of Court Dispute Settlement body called the Appeals Center has been certified by irish regulators to act as a referee on Content Moderation disputes across the eu. That is it for now in terms of the business. Stay with us here on bbc news. Ken mccallum the head of the Uk Intelligence agency, m15 has given a rare Public Speech outlining the complex set of threats to uk national security. He said there had been a marked rise in State Backed Threats from russia which he said was on a mission to cause mayhem on british streets, and also from iran, who he accused of using organised criminals to do their work for them. Since january 2022, we and our close colleagues in the police have together had to deal with 20 iran backed, potentially lethal plots against british citizens or uk residents. Thats a pretty unprecedented thing for us to be dealing with, and many of those threats are being presented by criminal proxies. The iranians, the iranian state, is comfortable commissioning, whether they be international Drug Dealers or low level crooks, to try to do their dirty work. Frank gardner was at the briefing and this was his analysis. Briefing and this was his Analysis Briefing and this was his analysis. Lets break this down, when analysis. Lets break this down, when it analysis. Lets break this down, when it comes analysis. Lets break this down, when it comes to | analysis. Lets break this down, when it comes to State Backed Threats, he was accusing

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