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tv   World Business Report  BBC News  March 22, 2024 2:30pm-2:46pm GMT

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claiming the company violates antitrust laws. apple says it will �*vigorously�* fight the case. joining me now is our north america business correspondent, michelle fleury. this is a landmark case that appple is facing. == this is a landmark case that appple is facina. m, this is a landmark case that appple isfacina. a, , this is a landmark case that appple isfacin. a, , this is a landmark case that appple isfacin. , , is facing. -- apple is facing. this was an attempt _ is facing. -- apple is facing. this was an attempt to _ is facing. -- apple is facing. this was an attempt to shore - is facing. -- apple is facing. this was an attempt to shore up - is facing. -- apple is facing. this was an attempt to shore up or. is facing. -- apple is facing. this i was an attempt to shore up or flex the muscles of anti—trust enforcement, because what sets this apart from other actions we have seenin apart from other actions we have seen in recent times is that they are going after apple's entire model, the ecosystem that underpins the products. a lot of people like the products. a lot of people like the iphone because it is simple and easy—to—use, and part of that is the
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idea that it has an ecosystem that is tightly controlled. we are seeing here lawyers from the department of justice arguing that that tight control is hindering innovation and hurting rivals by keeping them out, and also limiting the choice of consumers. this will play out over the next couple of years. meantime, tim cook is busy in shanghai, where he has been opening up the company's second largest or in the world. that is a crucial market for the company and in the first six weeks of this year, they have seen a 24% drop in iphone sales. it is a challenging time for this company and i have a lot of fires to put out right now. i want to switch tax lightly because donald trump could be in line for a $3 billion payout if his company, truth social, actually merges. what is going on without? , , ., ., without? this is the social media com an without? this is the social media company that — without? this is the social media company that he _ without? this is the social media company that he owns, - without? this is the social media company that he owns, and - without? this is the social media company that he owns, and i - without? this is the social media i
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company that he owns, and i had without? this is the social media - company that he owns, and i had been lots of talk about whether it would make its way to the stock market. now we know that it is. it could go public as early as next week. there is a special purpose acquisition company and its whole purpose is to be a shell company to try and take other companies public. in this case, it is truth social we are talking about. the parent company of that, shareholdersjust talking about. the parent company of that, shareholders just approved a merger with that term and that paves the way for truth social to be taken public. it has been a rocky road to get here but the result of all of this is that it could potentially put as much as $3 billion into the pocket of donald trump at a time when everyone is talking about his finances, given a judgment here in new york. finances, given a 'udgment here in new york. ~ ~ finances, given a 'udgment here in new york. ~ . ., ~ , ., finances, given a 'udgment here in new york. ~ . ., ~ new york. michelle, thank you so much for that _ new york. michelle, thank you so much for that update. _ germany's national football team is saying "auf wiedersehen" to adidas and "nice to meet you" to nike. after 70 years, it's dumping the german company adidas in favour
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of a sponsorship deal with the american sportswear giant nike. fans have taken to social media to voice their displeasure. sports branding expert matt smith is from the marketing research firm gwi. thank you forjoining us. why has adidas been dumped and why is germany doing the? i adidas been dumped and why is germany doing the?— adidas been dumped and why is germany doing the? i think it is an interestin: germany doing the? i think it is an interesting one. _ germany doing the? i think it is an interesting one. ultimately, - germany doing the? i think it is an interesting one. ultimately, the i interesting one. ultimately, the tradition that germany has with adidas, being a domestic brand, over 70 years of a partnership, and fundamentally the state of the market in germany has german football fans being 12% more likely to buy adidas products compared to nike. they are more popular among fans. the german football fan base
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who buy nike has increased i9% year—on—year. looking down a generation, among those who play and full of football, the popularity of the two companies is neck and neck. there is a long—standing tradition angle but ultimately when we look at the growth of nike in germany, commercially it makes sense. does nike have a — commercially it makes sense. does nike have a more _ commercially it makes sense. does nike have a more up—to—date image for german consumers? i’m nike have a more up-to-date image for german consumers?— nike have a more up-to-date image for german consumers? i'm not sure whether it is — for german consumers? i'm not sure whether it is necessarily _ for german consumers? i'm not sure whether it is necessarily a _ for german consumers? i'm not sure whether it is necessarily a matter - whether it is necessarily a matter of a trendy image or being seen as up—to—date. in recent campaigns, when you look at a deed us revitalising, there is a matter of nostalgia and retro feel to that. most of them have been very successful, so it is notjust a matter of updating the image but may be a matter of the commercial nature of the deal when it comes to the
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amount of money that nike can offer versus adidas. in amount of money that nike can offer versus adidas-— versus adidas. in the uk at the moment. _ versus adidas. in the uk at the moment, nike _ versus adidas. in the uk at the moment, nike is _ versus adidas. in the uk at the moment, nike is at _ versus adidas. in the uk at the moment, nike is at the - versus adidas. in the uk at the moment, nike is at the centre | versus adidas. in the uk at the i moment, nike is at the centre of versus adidas. in the uk at the - moment, nike is at the centre of a controversy over rebranding the cross of st george on the england football kit. cross of st george on the england football kit-— football kit. yeah, ultimately this is a really interesting _ football kit. yeah, ultimately this is a really interesting case - football kit. yeah, ultimately this. is a really interesting case because football is a force for good and unity. uk football fans a 14% more likely to agree that sport brings people from different backgrounds together. the campaign, men's, women's, para— teams, it is this idea. we have also seen massive tribalism about football in the uk. more people follow football than believe everyone should have equal rights. there has been 11% year—on—year increase in football fans describing themselves as traditional. they are 25% more likely than the average fan to think
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that football doesn't value fund is enough. a lot of the outrage was sparked by the high price of the kit, which puts it out of reach for a lot of fans, especially when you consider the cost—of—living crisis and the economic state of the country. d0 and the economic state of the count . ,, ~' , country. do you think they will eventually _ country. do you think they will eventually have _ country. do you think they will eventually have to _ country. do you think they will eventually have to reverse - country. do you think they will| eventually have to reverse this decision in the uk? i eventually have to reverse this decision in the uk?— eventually have to reverse this decision in the uk? i know nike have said they are — decision in the uk? i know nike have said they are not _ decision in the uk? i know nike have said they are not planning _ decision in the uk? i know nike have said they are not planning to. - decision in the uk? i know nike have said they are not planning to. i - said they are not planning to. i think ultimately when we ask about these hot button issues in the past about sports, such as foreign ownership, hosting the world cup, we found that britons are largely indifferent to it. a vocal minority is generating a lot of talk online. social media being what it is, it spreads like wildfire. when you look at the case in germany and the one in england, ultimately the success of the team would make a lot of the outrage go away. of the team would make a lot of the outrage go away-— of the team would make a lot of the outrage go away. thank you so much for 'oinin: outrage go away. thank you so much forjoining us- _
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to india now. it's the fastest—growing major economy in the world, but that growth is not being shared equally. a new report says india has the highest levels of inequality for a century. from mumbai, nikhil inamdar has more. this new study from the world inequality lab says inequality is at a 100 year high in india. the share of wealth of india's top i%, at 40.1%, is also at its highest historical levels, beating even developed economies such as the us. the paper has been published by some noted economists, including the french nobel laureate. it points to india's income tax system, which might be regressive when viewed a certain way. they propose a super tax of 2% on the net worth of the wealthiest families in india to fight this inequality. it could
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yield up to 0.5% of national income on revenues, which they say can be used for public investment in health, education and nutrition. the distribution of economic growth in india has significant implications for global inequality dynamics, according to the lab, given india's massive size and population. this sunday marks 100 days days since the start of houthi missile attacks on container ships using the red sea. it's forced many shipping companies to re route around the cape of good hope, adding more than a week to their freight times. marco forgione is the boss of the institute of export and international trade, and says the disruption is having a real impact. the disruption has been significant, as you have highlighted. the additional time and cost of shipping round the cape of good hope, the southern tip of africa, has had a
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dramatic impact. as we expressed when we started, this was going to result in price pressures, and we've seen that. it was going to impact inflation through shrinkage. we have also seen availability issues with large brands either pausing production or showing they have had disruption in their supply chain, so it has had a significant impact. what about on the ground with consumers — are they feeling the impact of this disruption? thea;r consumers - are they feeling the impact of this disruption? they are. leucine price _ impact of this disruption? they are. leucine price pressure _ impact of this disruption? they are. leucine price pressure and - leucine price pressure and availability issues. more generally we are now seeing an expansion of the threat area, beyond the red sea, into the gulf of aden, increasing somali pirate attacks, and now threats into the indian ocean and the straits of hormuz. the problem
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started out with some of the attacks in the red sea and have expanded. that is having a growing impact on consumers and on trade. what that is having a growing impact on consumers and on trade. what can the shi -|nr consumers and on trade. what can the shipping companies — consumers and on trade. what can the shipping companies do _ consumers and on trade. what can the shipping companies do with _ consumers and on trade. what can the shipping companies do with this - shipping companies do with this expanded threat? we shipping companies do with this expanded threat?— shipping companies do with this expanded threat? we have seen a shift to the _ expanded threat? we have seen a shift to the types _ expanded threat? we have seen a shift to the types of _ expanded threat? we have seen a| shift to the types of transportation being used. there has been a move from sea freight to the china europe railfreight, and demand for that has gone through the roof. the number of trains leaving china, coming to the eu has increased dramatically. there has also been shift to airfreight as well, but none of that is really sustainable in the longer term. we have to see a conclusion of the weaponisation of trade around the straits and the suez canal. there has also been an impact on the nations, and we are
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seeing growing problems and risk of famine in some of the african nations, who are dependent on the red sea for theirfreight nations, who are dependent on the red sea for their freight and aid. in other news... in the uk, shop sales saw zero growth last month as wet weather and cost—of—living pressures kept people at home. sales of clothing did go up, but that was offset by a decline in the sale of food and fuel, according to official figures. all this comes after a lacklustre december then a strong bounceback injanuary. the planned merger between vodafone and three in the uk could lead to "higher prices" and "reduced quality" for customers, according to the competition watchdog. the $15 billion deal could now be subject to an in—depth investigation. the combined group would be the uk's biggest mobile network, with about 27 million customers.
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a quick look at what the markets are doing. quite mixed. investors are focused on what will happen to interest rates. that's it for me. sport today is next.
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hello from the bbc sport centre. ahead of england's friendly against brazil on saturday, there's a row over changes to the colour of the st george's cross on the new england kit. nike says the shirt includes a "playful update" to the cross from its traditional red to include purple and blue horizontal strips. the us firm said the colours were inspired by the training kit worn by england's1966 world cup winners. the prime minister, rishi sunak, says the colours don't need to be changed. look, obviously i prefer the original, and my general view is, when it comes to our national
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flags, we shouldn't mess with them because they are a source of pride, identity, who we are, and they are perfect as they are. there are a number of international friendlies later. spain are among the teams fine—tuning ahead of the european championship and they face colombia in a game that will be played at the london stadium in england's capital. spain then take on brazil on tuesday. it two games against two south american teams. 0n it two games against two south american teams. on an individual level, i am very happy, mostly because we can measure our strength. i think we haven't faced each other many times in the past, and they are completely different opponents from what we are used to. i think it will be a very interesting test to measure where we are, facing the colombian team i think hasn't lost a game for two years, then brazil. it is very important for our preparation for the european championship to compete against the highest level teams. wales are just a win away from qualifying for this summer's
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european championship. their 4—1 win over finland set up a winner—takes—all final

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