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tv   World Business Report  BBC News  April 5, 2024 5:30am-6:01am BST

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hello, i'm lukwesa burak. welcome to bbc news. changes to employees�* rights to ask for flexible working are due to come into force in the uk tomorrow, saturday, when the employment relations act 2023 becomes law. the new legislation removes the requirement for an employee to have 26 weeks�* continuous service before they can make a formal flexible working request. this means the right to request flexible working becomes a day—one right. after experiencing discrimination as a new mother, victoria usherfounded her own company in 2010 and made sure flexibility was
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embedded into its dna. live now to victoria usher, ceo at pr agency gingermay. thank you forjoining us. why did you need to ensure that flexibility was there from day one? ~ ,, , a, flexibility was there from day one? ~ ,, n , a one? what did you experience? as a working — one? what did you experience? as a working mum _ one? what did you experience? as a working mum it _ one? what did you experience? as a working mum it is - one? what did you experience? i as a working mum it is absently imperative to have flexible working and i was put in an impossible situation of having to choose between being a parent and having a career. i was made to go back to work to meetings after three weeks and then go back to work full—time after six weeks which is absolutely impossible. it's a very difficult situation and we know that working parents really do want to develop career and they want to have the career trajectory. in our business we make sure that it is they did from day one and because of that we have incredibly loyal staff, they
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stay for incredibly long time, so it is a proven recipe. there is an upside — so it is a proven recipe. there is an upside because - so it is a proven recipe. there is an upside because most - is an upside because most people, even if we look at the idea of a woman having children or planning to have children or does have children, many employers go, no, no, there is a very silent discrimination that may well go on. but there is an upside to being flexible on the employer site? 10096. i can't believe _ on the employer site? 10096. i can't believe that _ on the employer site? 10096. i can't believe that businesses l can't believe that businesses have not still figured this out yet. working parents that are given flexible rights are literally the most loyal people that you can get. they are so productive. they are incredibly productive. they are incredibly productive during their working hours because they know they can't stay on late and finish work. they really own untapped resource and it makes me incredibly sad that many businesses still are old—fashioned in their approach to working parents and that
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mums and dads. 0nce to working parents and that mums and dads. once they found that employer but really does understand the needs and stresses of being a parent, they stay with them and work hard and they get the incredible rewards and that goes both ways. in incredible rewards and that goes both ways.— incredible rewards and that goes both ways. in terms of caettin goes both ways. in terms of getting ready _ goes both ways. in terms of getting ready and _ goes both ways. in terms of| getting ready and preparing, what should businesses do or what should businesses do or what should businesses do or what should they have done? yes, so there was a survey recently around 43% of employers are not prepared for this. it is coming in tomorrow. the key thing as with all employee relations is communication, so this is about communication, so this is about communication, negotiation and compromise. managers need to be trained to be apathetic, talk to employees and find out what is going to suit them and work for them. is going to suit them and work forthem. —— is going to suit them and work for them. —— empathetic. they need to think about developing an output culture, and about sea of 9—to—5 culture will not work to many to think about
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what the employee can do within the time available to them and agree that upfront. there is a lot of technology that can help to manage this.— lot of technology that can help to manage this. victoria usher, thank you _ to manage this. victoria usher, thank you for— to manage this. victoria usher, thank you for sharing _ to manage this. victoria usher, thank you for sharing your - thank you for sharing your story and experience. thank you. story and experience. thank ou. ., ~' story and experience. thank ou. ., ~ , ., the republican presidential candidate donald trump is scheduled to be deposed later this month as part of a dispute over ownership of his social media company — the trump media & technology group — which went public last week. the deposition is scheduled for 15 april, which is also the start of trump's first criminal trial. for the latest, here's the bbc�*s north america business correspondent, michelle fleury, in new york. trump's media company may never be profitable but its shares are valued at billions of dollars and that involved are fighting over who gets a piece of it. in february the cofounders of former president trump osmotic media company
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filed a lawsuit in delaware to claim mr trump and other leaders scheme to deprive them of a stake in the company that potentially could be worth hundreds of millions of dollars. as part of the case mr trump will be deposed by lawyers for an deleted skin and wes moss, two former on donald trump was my reality tv show the apprentice. the date coincides with the start of the former president's first nominal trial here in new york. the depositions often get rescheduled. this week trump filed its own lawsuit in florida against these two cofounders arguing mismanagement and saying there should be stripped of their shares. this is the latest legal twist just days after trump went public, during a remarkable debut on the nasdaq exchange, shares traded at a high of $78 before plunging days later. that was michelle fleury. around 30 million workers in the uk will see a boost to take—home pay from tomorrow
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after a uk tax called national insurance is cut for employed and self—employed workers. the measures were announced in the uk chancellor's spring budget. live now to dan kemp, chief research and investment 0fficer, morningstar. hello to you. the global world viewers, who don't quite understand national insurance, give us a succinct definition. hello. i will try! give us a succinct definition. hello. iwill try! it give us a succinct definition. hello. i will try! it is challenging. national insurance is a tax that people pay on their earnings while they are working. it is another form of tax. viewers in the us will be familiar with federal tax and state taxes, it's one of the ways people pay tax on their income. when thinking about the impact of this change in national insurance from this
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weekend, the key thing to remember is there are two things going on here. the first is the big macroeconomic story about what's happening following covid in terms of the borrowing that happened during covid and then what we faced with interest rates at the tax rises. that's one thing. the other thing that's going on and more important to many of the viewers is how people feel about the taxes they pay, that's what the government is going to be most focused on in the uk. and people are going to be feeling better off after this weekend in the main even if they are actually paying more tax because the way the government has structured the change. government has structured the chan . e. , ., government has structured the chance. , , change. ok, so basically, they are giving _ change. ok, so basically, they are giving with _ change. ok, so basically, they are giving with one _ change. ok, so basically, they are giving with one hand - change. ok, so basically, they are giving with one hand and l are giving with one hand and taking with the other, is that the assessment?— taking with the other, is that the assessment? they absolutely are doinu the assessment? they absolutely are doing that. _ the assessment? they absolutely are doing that. the _ the assessment? they absolutely are doing that. the institute - are doing that. the institute of fiscal studies has said that they are taking more than they
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are giving, but the interesting thing about tax is it's not going to feel like that to most people. the late author terry pratchett said that the art of taxation is a bit like dairy farming, you need to get the maximum amount of milk with a minimum amount of movement. that's what the government has done. most people will feel better because they are seeing their take—home pay increase their ta ke—home pay increase but their take—home pay increase but as they earn more they will keep less of that right and that's how the government is taking the money back by freezing the bands on which we pay tax so the money that we are losing is quite competitive and difficult to see, the money again is very visible and that's for the government is doing. that's for the government is doinu. . ., , ., ,�* doing. election year, isn't it? thank you- — doing. election year, isn't it? thank you. that _ doing. election year, isn't it? thank you. that was - doing. election year, isn't it? thank you. that was dan - doing. election year, isn't it? i thank you. that was dan kemp. is global shipping facing an unprecedented crisis? 0ngoing concerns about houthi attacks in the red sea and continued drought in panama have delayed deliveries and pushed up transport costs.
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in the first two months of this year, suez canal trade dropped by 50% from a year earlier, while trade through the panama canal fell by 32%. in addition, the collapse of the francis scott key bridge in baltimore, may also add to the issues on the east coast of the united states, and only yesterday denmark was forced to close one of the world's busiest shipping lanes following a failed missile test. so is shipping facing a perfect storm? let's examine this with peter sand, chief analyst at freight analytics firm, xeneta. hello, peter. is it a perfect storm or is there more going on? i storm or is there more going on? ~ , storm or is there more going on? ~' , ., ., on? i think there is more going on? i think there is more going on that affects _ on? i think there is more going on that affects global - on? i think there is more going on that affects global maritime j on that affects global maritime shipping than only a few years back, and you may call it a
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perfect storm but coming from geopolitics going sour, it is coming from a claimant related issue and coming from like the great buildup of denmark yesterday. a lot of contingencies to manage everyone involved in global shipping. everyone involved in global shi inc. ., everyone involved in global shipping-— everyone involved in global shinina. . , ., , shipping. have we seen anything like what we _ shipping. have we seen anything like what we are _ shipping. have we seen anything like what we are experiencing i like what we are experiencing now? i like what we are experiencing now? ~ u, ., ., ~' like what we are experiencing now? ~' u, ., ., 4' . ~' now? i think we can look back in time but — now? i think we can look back in time but the _ now? i think we can look back in time but the global- in time but the global financial crisis, the entry of china into the world trade organisation and the regular closures of affecting oil trade. and when this was canals closed in the 1960s that was also a massive event. but what we see right now with the frequency of these events impacting what would otherwise be global and free trade and vital supply chains, it is becoming unprecedented due to the increased frequency and the
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problems occurring every time around. 0f problems occurring every time around. of course, with instant knock on effect also on freight rates. our platform shows are going up 200% when two companies were closed. it is coming down supply chains are re—established. coming down supply chains are re-established._ coming down supply chains are re-established. there are some eo - le re-established. there are some people say _ re-established. there are some people say that _ re-established. there are some people say that global- re-established. there are some people say that global trade - people say that global trade and particularly shipping has become weaponised. in your analytics of freight, is there any conversation around possible solutions? everyone is t in: to possible solutions? everyone is trying to solve _ possible solutions? everyone is trying to solve what _ possible solutions? everyone is trying to solve what challenges| trying to solve what challenges they have at hand all the time and i guess that's probably also a bit of the frustrations going forward. every time a disruption happens, nobody really knows what is the full extent of the event will stop they scramble, they try to find out solutions, and even though we may see recognisable aspects
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of every disruption, there is always something new coming up, whether that's a bridge collapsing in baltimore, hopefully from a supply chain perspective it is a minor event, but still, it adds a tub of the alternative plans, the china plus b plan if you are trying to make your supply chains more resilient, nothing is cost free here, it all comes with the cost of upsetting —— setting up extra layers in order to make things that were really, really efficient in globalising paydays. it is now less efficient to ensure supply of any product, so lots of things to handle for everyone involved. ., , ., , involved. you see many countries _ involved. you see many countries retreating. i involved. you see many i countries retreating. thank you, peter sand.— you, peter sand. you are welcome- _ let's get some of the day's other news now. samsung electronics estimates
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operating profit rose 10—fold in the first quarter, reaching a total of nearly $5 billion. the world's largest memory chip and tv maker is also projecting an 11% rise in revenue from a year earlier. rebounding semiconductor prices lifted earnings from a low base a year ago, when there was a severe downturn in chip demand. boeing has paid $160 million to alaska air to make up for losses it has so far suffered following a dramatic mid—air blowout injanuary. alaska airlines said the money would address profits lost in the first three months of the year and it expected further payouts in the months ahead. regulators temporarily grounded nearly 200 boeing 737 max 9s after a door plug fell from an alaska air plane shortly after take—off. around the world and across the uk, this is bbc news.
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next year renewable energy will become the single source of power in the world, overtaking coal. that's according to the international energy agency. china dominates the sector having invested billions into green energy since 2011 and its cheap solar panels are being used around the world. in the last couple of weeks europe has opened an investigation into the subsidies of solar panels from china and the american government has raised more concerns about the impact of the oversupply on the industry there. on this week's talking business weekly, my colleague, aaron heslehurst, talks to a global panel of industry leaders about whether europe and america can catch up. among them, the boss of one of europe's biggest solar companies, 0tovo. certainly there are enormous
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amounts of panels already in storage in europe and there is more coming in our ships every single day. we're looking at and that is enormous. the prices of panels dropped between 35% and 50% in all european countries last year so obviously this is a challenge to everyone who is manufacturing or owning panels in warehouses. the consumer, is excellent news. no—one has ever got this cheap solar energy as european consumers are getting this year. european consumers are getting this ear. �* ., ., ., this year. i've got to ask, how many of _ this year. i've got to ask, how many of the — this year. i've got to ask, how many of the solar _ this year. i've got to ask, how many of the solar panels i this year. i've got to ask, how many of the solar panels that| many of the solar panels that you sell and install, how many come from china? i you sell and install, how many come from china?— come from china? i estimate that about — come from china? i estimate that about 9096 _ come from china? i estimate that about 9096 are - come from china? i estimate i that about 9096 are manufactured that about 90% are manufactured by chinese owned companies and 75% are produced in mainland china. 7596 are produced in mainland china. ~ . ., , , 7596 are produced in mainland china. ~ . . , , ., china. we certainly see what ha--ens china. we certainly see what happens when _ china. we certainly see what happens when europe i china. we certainly see what i happens when europe becomes dependent on energy sources from potentially hostile foreign powers. do you think this all needs to be de— rest?
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you want the ability to make your own panels and batteries. —— derisked. that makes sense from a energy security and national security perspective. the difference between solar panels and gas is that if you are an exporter, the chinese in this regard, come your enemy, the panels will last and keep making energy for 30 years. whereas if you're a gas exporter and you become the enemy, they turn off the gas immediately. we have more response time with renewables than fossil fuels, but that does not mean that we can go to zero. we absently need a local manufacturer value chain in europe. and you can see the full interview this week's talking business weekly here on the bbc news channel. as many extol the virtues of ai as an innovative tool that will change the face of business, cyber criminals are also getting to grips with the new technology,
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creating ever more sophisticated threats to corporate it systems. ai for phishing and ai created online adverts — to lure unsuspecting victims into making that fatal click — arejust the beginning. last year, mckinsey calculated that damage from cyber attacks will amount to about $10.5 trillion annually by 2025, a 300% increase on 2015, with organisations spending more than $150 billion a year on cyber security. my colleague, sally bundock, met up with poppy gustafsson, ceo of darktrace, the world's leading cyber ai company. what we do it is artificial intelligence to allow a business to learn their own unique digital fingerprint, business to learn their own unique digitalfingerprint, and unique digital fingerprint, and by unique digitalfingerprint, and by having that really good and
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intimate understanding of them and their organisation, they can then start when things start to go awry, whether it is from a widespread note attack or a recent form of ransom where or a zero day that he had to be discovered or an insider who has gone rogue and doing something they shouldn't. whatever it is, by virtue of the fact that it's not normal for your organisation darktrace will help identify but more importantly interrupted and stopped the attack in its tracks. ., ., , ., . ~' , tracks. how do you make sure that ou tracks. how do you make sure that you yourselves _ tracks. how do you make sure that you yourselves as - tracks. how do you make sure that you yourselves as an i that you yourselves as an organisation are always ahead in this game because that's the key, isn't it? it in this game because that's the key. isn't it?— key, isn't it? it is. and there is a constant _ key, isn't it? it is. and there is a constant wave _ key, isn't it? it is. and there is a constant wave of - is a constant wave of innovation that happens from cyber attacks. of course, the recent wave at the moment is things about how are they leveraging artificial intelligence to be able to gain access into business? our approach has never been to try
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and project for a second guess what that attack may be and instead focus on us and our organisation and how we may be uniquely vulnerable and how we can take proactive steps today to harden ourselves against an attack as well as make sure that we were subjected to both detect and respond to an attack against a relation.— against a relation. where are ou against a relation. where are you concerned _ against a relation. where are you concerned there - against a relation. where are you concerned there are i against a relation. where are | you concerned there are weak links when you look at, say, governments, big organisations, may be public sector organisations, where do you feel there is weakness that could be a real problem going forward? i could be a real problem going forward? ~ . forward? i think critical national _ forward? i think critical national infrastructure | forward? i think critical. national infrastructure is forward? i think critical- national infrastructure is an area that should rightly be focused on. and it's not necessarily because it is an area of weakness, but it is an area of weakness, but it is an area of weakness, but it is an area of high impact. if an attacker is trying to demonstrate their expertise or create an impact for their own
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gain, critical national infrastructure is not an opportunity because in there you are bringing down systems, humans are very impacted by that, the literacy grid, for example, so that should rightly be a focus. 0ther example, so that should rightly be a focus. other areas, healthcare. again, you have a real human impact of attacks in the healthcare sector but healthcare is known to be one where resources are stretched, there's not enough people in there's not enough people in the system are not necessarily enough money in the system, so getting the balance right is a challenge for the healthcare industry. challenge for the healthcare indust . ., challenge for the healthcare indust . . industry. that was poppy gustafsson _ industry. that was poppy gustafsson speaking i industry. that was poppy gustafsson speaking to l industry. that was poppy i gustafsson speaking to sally bundock. as the security over global supply chains becomes ever more important, being able to track goods throughout their journey and detail its carbon footprint is set to become crucial for businesses ranging from retail to pharmaceuticals. with the eu's green deal gaining momentum and the increasing demands for digital product passports, wiliot, a start—up company, has created a tagging pixel that can record and transmit
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information about a products journey in real time via bluetooth. live now to steve statler, cmo, wiliot. hello, steve. great to have you with us. i'm working out the business needed for this. why did you create this pixel? qq’s did you create this pixel? 9996 ofthe did you create this pixel? 9996 of the things _ did you create this pixel? 9996 of the things in _ did you create this pixel? 9996 of the things in the _ did you create this pixel? 99943 of the things in the world are off—line, they are in the dark. it is really putting pressure on supply chains, on retail, on labour, so our customers are looking to us to help them adapt of omni— channel, that is, people who are buying online, picking up install, there is huge amounts of food
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waste and our tags can measure temperature and location and dramatically cut that, so it is really all about bringing supply chains into the 21st century with these tiny postage stamp sized computers that power themselves without batteries. power themselves without batteries-— power themselves without batteries. . �*, ., . , batteries. that's an incredible amount of _ batteries. that's an incredible amount of data _ batteries. that's an incredible amount of data that _ batteries. that's an incredible amount of data that you i batteries. that's an incredible amount of data that you are l amount of data that you are holding. amount of data that you are holdinu. ~ amount of data that you are holdin. _ . .,. ., , amount of data that you are holdina.~ ., , g amount of data that you are holdin~.~ ., , g ., holding. we actually don't hold the data. we _ holding. we actually don't hold the data. we are _ holding. we actually don't hold the data. we are like _ holding. we actually don't hold the data. we are like a - holding. we actually don't hold the data. we are like a pipe, i the data. we are like a pipe, so the owner of the data is the consumer, the retailer, however is manufacturing the product, and you can think of what we do as adding something like the apple airtag but rather than £27, it costs just a few pennies and we can unlock all of the power of ai and solve some of the biggest that world is wrestling with around sustainability, food safety, and just people understanding
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where the products are coming from, joining manufacturers up to consumers and vice—versa. very quickly, how has your product been used to sell some of those issues that you've just raised? how is it being applied? just raised? how is it being a- lied? , ., just raised? how is it being a- lied? , . ., , applied? they are literally a - lied applied? they are literally applied to _ applied? they are literally applied to the _ applied? they are literally applied to the packaging, | applied? they are literally i applied to the packaging, the cardboard boxes, the food products are transported, the plastic crates, so rather than relying on people tapping and scanning, which is a very 20th—century concept, we simply sense in real time where everything is, so you are not relying on people doing their job, you're not really rely on people do anything to understand the state of your supply chain and we believe in doing that we can cut the capital tied up in supply chains as much as a half and when you cut the u can also cut the carpet.
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when you cut the u can also cut the carpet-— the carpet. that's the point. lovel . the carpet. that's the point. lovely. that's _ the carpet. that's the point. lovely. that's what - the carpet. that's the point. lovely. that's what i - the carpet. that's the point. lovely. that's what i need i the carpet. that's the point. | lovely. that's what i need to hear. steve, thank you much for explaining that to us. that was steve statler from wiliot. you been listening to all the big bbc business news stories. i'll be with you at the top of the hour with the rest of the world news. stay with us here on bbc news. hello. the weather will be throwing all sorts at us over the next few days — some wet weather, some warm weather and some windy weather, particularly driven by storm kathleen, a storm named by the irish weather service, for impacts it will have in the republic of ireland over the weekend. but for northern and western parts of the uk, it will bring gales and the risk of disruption. here is storm kathleen developing, still well away to the south—west of our shores. but low pressure already in charge of the scene
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for friday, rain and snow across scotland, that tending to peter out, but more rain pushing into southern scotland, later. for northern ireland, bands of showery rain with sunny spells in between, england and wales seeing a day of sunny spells and showers. it will be quite windy, particularly around western and southern coasts, but pretty warm — 15 degrees for belfast, 18 for norwich. still cold in the north of scotland, but it will turn milder here, as we go through friday night. further bands of heavy rain driving northwards, turning increasingly windy around some western parts, but a very mild start to the weekend. down towards the south, 12 or 13 degrees, first thing on saturday. so storm kathleen, this deep area of low pressure, well to the west of us, but coming close enough to bring some very strong winds, and with those winds coming from the south, well, they will be pulling some really warm air into the mix. it is likely that saturday will be the warmest day of the year so far, with some outbreaks of rain moving northwards across scotland, showers following on behind, some decent sunny gaps
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in between, but i think it is the strength of the wind that could cause some issues, especially around western coasts. we'll see gusts of 50, 60, maybe 70 mph in exposed spots. so that could cause some travel disruption, maybe a little bit of damage. temperature—wise, though, well, values up to 20 or 21 degrees in eastern england, and certainly much, much warmer than it has been across the north of scotland. now, storm kathleen, this area of low pressure continuing to track to the northwest of us as we move through saturday night into sunday. still a lot of isobars squeezing together on this chart for sunday, so still very windy, the strongest winds up towards the north west of scotland, where there will be gales. yes, there'll be some sunny spells, but there'll be some heavy, perhaps thundery, showers, and it's going to be a windy day for all of us. not quite as warm on sunday — temperatures between ten and 17 degrees.
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good morning, welcome to breakfast with charlie stayt and naga munchetty. 0ur headlines today. israel agrees to allow more aid into gaza — the move came hours after talks between president biden and the israeli prime minister. days of disruption as train drivers
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stage a series of strikes. there's a warning large parts of the country will have no services at all. workers will see their national insurance payments cut from tomorrow, but frozen thresholds mean many are paying more in income tax. liverpool are back on top of the premier league, but it took a spectacular strike to see off sheffield united at anfield. # waterloo. # i was defeated, you won the war. a music milestone — brighton celebrates 50 years since it hosted eurovision and launched the career of abba. and very windy for some this weekend thanks to storm kathleen, but also very mild, temperatures could be above 20 degrees for some, a complete contrast to this morning. snow in parts of scotland. i will have all the details later in the programme. it's friday the 5th of april. the israeli government says it will allow more aid to enter
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gaza by opening up two more humanitarian corridors.

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