Transcripts For BBCNEWS World Business Report 20170404 : com

Transcripts For BBCNEWS World Business Report 20170404

With sally and World Business report. A passage to india uk chancellor Philip Hammond goes on a mission to drum up trade from one of the worlds Fastest Growing economies. Stuck in a Holding Pattern a top airline boss warns brexit could cause chaos in the skies with flights between the uk and europe suspended once britain leaves the eu. Welcome to World Business report. Im Sally Bundock also in the programme we take you to sydney to assess how hot the Property Market is and the measures they are taking to cool it down. But first we start in india where the uk Finance Minister is leading a trade delegation. Its a two day visit where Philip Hammond will stress Britain Is Open For Business and looking for new trade deals as the uk negotiates its way out of the european union. And lets talk you through the relationship. It hasnt been a long one, for various reasons, i am it hasnt been a long one, for various reasons, i am sure you it hasnt been a long one, for various reasons, i am sure you know that well. In 2014 the value of all the goods and Services Sold between india and the United Kingdom was about 2k billion dollars. And it works in indias favour they export a lot more goods to the uk than the other way around their top exports are clothing, footwear and medical items. But the uk is only the 18th biggest market for indias exports. And india only comes 17th on the uks list of Export Destinations despite having the worlds second biggest population india is looking to raise more than 1 trillion for infrastructure over the next decade and the uk hopes it can benefit from that given its position as the worlds Top Financial Services exporter. In return india will be looking for greater Freedom Of Movement for its citizens who want to work and study in the uk. Mihir sharma is an economist and Senior Fellow at the Observer Research foundation. Welcome to the programme. How successful the youth think these two day trip will be in terms of laying the foundations for future trade deal . It is important to recognise that both the uk and india almost desperately want to have some kind of deal. Post brexit, india is a suitable target for the uk. India has been struggling to get a deal for a long time. Negotiations have broken down and it was hoped that britain would be easier to deal with once outside the eu. That said, when theresa may came last year, it became very evident that the question of more visas for indian workers and students was at the top of the indian and gender and i think the British Government and the british Prime Minister felt they could not give anything on that for political reasons. That could be a Key Stumbling Block because that is really what india wants to see in terms of give and ta ke really what india wants to see in terms of give and take and the uk is not necessarily wanting to give that . One of the reasons i would be a little. I would not be confident that something tangible would emerge from this trip is that it does not seem there is any meeting down on this matter. For the past five yea rs, this matter. For the past five years, indian children have found it increasingly difficult to stay back in britain to get a bit of Work Experience after finishing degrees. The visa process even fall short stays has become increasingly difficult for indian tourists. It has become a cumbersome procedure and until that is reformed the Indian Government is not willing to do anything else. If they would plough ahead and get over that obstacle, which areas of business would benefit most . We mention Financial Services in the uk but what industry will be keen to get on board . What industry will be keen to get onboard . On the indian side, there area onboard . On the indian side, there are a lot of people who are looking to see if Services Exports to the uk expanded. For example, corporations on exporting legal services. We have similar Legal Systems and that would be one thing we would be happy to see develop. There is a pharmaceutical industry, our car industry with similar companies. From the british side i think there has been some hope that Financial Services would benefit especially given the current indian focus to expand finance to many people whove been outside the financial net. Thank you very much. When we hear more about Philip Hammonds trip we will update you. There are currently around 12,000 Eu Regulations in force across the union and they cover everything from banking and the chemicals industry, to agriculture and the Airline Industry. Heres our transport corresponded Richard Westcott to talk through some of the pitfalls that brexit could create for the business of aviation. Lots of industries is just telling for position they want to get to the front of the queue and make sure there are except agreement is sorted first. To date it was the Airline Industry that weighed in. At the moment, any eu airline can fly anywhere in europe and that is why we get such cheap flights but that deal runs out when we leave the eu in two years. If they do not replace it, there is a slim chance flights would have to stop for a while. It is not meet saying it, it is michael leary, the boss of ryanair. 0ther airlines do not share his apocalyptic view. 0thers airlines do not share his apocalyptic view. Others are very confident a new agreement would be reached soon and that is for one simple reason because both sides would lose too much money without it. Without all of those tourists and Business People they have to fly. The airlines have good reason to have a quick deal. They plan their schedule a year and a half ahead so they need to reassure customers that when they book their holiday in 2019, their plan would definitely be able to take off. In other news teslas market value has overtaken that of ford making it the second most valuable carmaker in the us. After the Company Announced record vehicle deliveries in the first three months of the year monday, shares in the electric car maker added more than 7 . At the close of trading tesla had a market value of 49 billion, compared with fords value of 46 billion. Now only General Motors is worth more. South africas Credit Rating has been cut to junk status by the Ratings Agency s p global. The agency said that political upheaval, including the recent sacking of Finance Minister pravin gordhan, was endangering the economy. Another Ratings Agency, moodys, said it was placing its south africa rating which is two notches above junk status on review for a downgrade. The news put more pressure on the rand, which was down 2 against the dollar. President trump has signed a highly controversial order that will roll back an 0bama era law that restricted how Internet Service providers could use americans online data. The us House Of Representatives and the senate backed the repeal last month. Us citizens browsing history, location data, financial and medical information are just some of the things that can be sold on to Marketing Companies in order to better target advertisements. Do get in touch with us. We will talk about it in a moment in the paper review. I havejust talk about it in a moment in the paper review. I have just dropped talk about it in a moment in the paper review. I havejust dropped by flickr markets in hong kong today are closed as are the indian market and also type one. Shanghai and in china also close. A 1 loss on japan. The yen has been getting stronger all three days in a row and that never helps japan. The wonder of technology. Just my voice activates the screen, if only that we re activates the screen, if only that were true. The big winner was tesla. I will see you soon. Researchers say they are closer to understanding why firefighters are at such a high risk of suffering heart attacks. The authors of a new study say firefighters blood becomes sticky at high temperatures and their Blood Vessels fail to relax in response to medication. Our Health Correspondent Sophie Hutchinson reports. Experienced firefighters used to new recruits. 0ther experienced firefighters used to new recruits. Other two several times a day he was exposed to fires. 0ne recruits. Other two several times a day he was exposed to fires. One day at work, he had a heart attack. |j was in denial. You are hoping it was indigestion. You were hoping it was as sinister as a heart attack so it comes as a shock stop we keep ourselves reasonably fit, we have to pass a standard test every year. It was confusing it is faced with those symptoms. Heart attacks are the leading cause of death for frontline firefighters. Studies have shown half who died on duty are killed by heart problems. Edinburgh University Study monitored the hearts of 19 healthy firefighters during mock rescues. It found Body Temperatures rose by one Degree Celsius and remained high for up to four hours afterwards. Blood vessels and blood became stickierforming afterwards. Blood vessels and blood became stickier forming potentially harmful clots. Scientists believed that physical exertion and hit were the reason. Staying hydrated and taking breaks to cool down a vital for saving firefighters lives. Coming up at 6 oclock on breakfast dan walker and Louise Minichin will have all the days news, business and sport. Theyll also have a Special Report from mauritius. John mcareavey, whose Wife Michaela was murdered whilst they were on their honeymoon six years ago has returned to the island for the first time. Im ben bland. The top stories this hour President Putin has declared three days of mourning and laid flowers near the scene of the St Petersburg metro blast, which killed 11 people and injured more than 50. Investigators believe it was a terrorist act. A second device was found and defused at a second station. In colombia, funerals have been held for victims of the mudslide which killed at least 250 people. Residents are still without water and electricity. Officials are handing out Sanitation Kits and warning of the risk of disease. President trump has extended a warm welcome at the white house to egypts leader, and declared a reboot in relations. Abdel Fattah Al Sisi is the first egyptian president to visit the white house in nearly a decade. Iraqi forces say theyve opened safe corridors in Western Mosul for civilians to flee the battle to drive is out of the city. Around 400,000 civilians are estimated to remain in the western half of mosul. Now its time for our news review. The arab news leads with the explosion on the metro in St Petersburg. 11 people have been killed and at least 50 more are injured. The blast coincided with a visit by russian president Vladimir Putin to the city. The independent reports that germanys foreign minister Sigmar Gabriel has cast doubt on uk Prime Minister theresa mays insistence that both a brexit divorce deal and new Free Trade Agreement with the eu can be completed by 2019. The guardian says the International Monetary fund has issued a warning that Living Standards will fall around the world unless governments take action to boost productivity by investing in education. Also in the independent, the British Travel industry is calling for no extra red tape following brexit. The association of British Travel agents wants the current Open Skies Policy to remain and for uk tourists not to be subjected to stringent entry visas

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