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tv   Business Today  BBC News  May 15, 2024 12:30am-12:46am BST

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plus — a new prime minister for singapore after 20 years. we'll take a look at how it might impact the economy. hello, and welcome to business today. let's begin in the us — where thejustice department says boeing will be subjected to prosecution. this is because the plane—maker allegedly breached an agreement made in 2021. the deal shielded it from criminal charges over the fatal 737 max crashes in 2018 and 2019. boeing told the bbc that it had "honoured the terms" of the agreement with the do], and will be responding to the agency on the issue. we will be keeping a close eye on this story as it develops.
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staying with the us — presidentjoe biden has increased tariffs on $18 billion worth of imports from china. he's accused the country of unfairly subsidising its clean energy sector and flooding international markets with cheap goods. from new york, the bbc�*s erin delmore has more. it's not often we find former president trump and curtin president trump and curtin president biden in agreement, but now we are seeing president biden not only keeping tariffs enacted by his predecessor, but increasing them. they focus on the key technologies that power the key technologies that power the green transition and include a 100% tariff on all chinese made electric imported into the us— that's up from 25% — and a doubling on the levy of solar cells to 50% and semiconductors. president biden says they are designed to protect us manufacturers from being undercut by chinese
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industries in the future, from tvs, semiconductors, steel and aluminium, and even masks. china heavily subsidises these products, far more than the world — products, far more than the world can _ products, far more than the world can consume, and then dumps — world can consume, and then dumps them in the market at unfair— dumps them in the market at unfair prices, driving manufacturers around the world out of _ manufacturers around the world out of business.— out of business. china has criticised _ out of business. china has criticised the _ out of business. china has criticised the plans - out of business. china has criticised the plans and . out of business. china has i criticised the plans and vows to take all necessary actions in response. but those targeted represent less than 5% of us imports from china, the move could carry more symbolic weight and be a move to attract voters come november. the tariffs, which were politically motivated, will have a wide impact on supply chains. that's according to deborah elms. she's the head of trade policy at the hinrich foundation. it's really about the contested election coming up in november, and the fact that there are key battleground states which are very active in manufacturing,
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and the biden administration is not interested in losing those voters. so anything you can do to demonstrate that you are tough on china is important. china has been accused of overcapacity and its market with regard to the solar panels and electric vehicles— where will it sell all those products now? i will it sell all those products now? ~' ., , will it sell all those products now? ~' ., now? i think the europeans are extremely _ now? i think the europeans are extremely excited _ now? i think the europeans are extremely excited dutch - now? i think the europeans are extremely excited dutch upset| extremely excited dutch upset about this now because it means if you won't sell electric vehicles into the us, you need to sell them somewhere in europe is the next most likely destination for those cars. they'll also be sold presumably across this region in southeast asia as well, where they will find a receptive audience because they are competitively priced and we have a lot of countries that are looking for transition towards net zero and a low carbon footprints. so i think there will be a lot of chinese cars and a lot of different markets now. do these kinds of measures _ different markets now. do these kinds of measures usually - different markets now. do these kinds of measures usually workl kinds of measures usually work or do what they are intended to do? i or do what they are intended to do? ~ or do what they are intended to do?
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see in november whether it pays off. if you're taking about economics, you can have success by saving a fewjobs in the industry but at a tremendous cost. there is a cost of both sectors and jobs and consumers which i think is extremely important as well, at a time of rising inflation you havejust raised costs on clean energy products. china is preparing for a two—day visit by russian president vladimir putin starting thursday. this will be putin's second trip to the mainland in the last six months. according to the kremlin, both leaders will discuss a variety of economic and humanitarian issues. meanwhile, singapore will see a changing of the guard later today, when former finance minister lawrence wong is sworn in as the country's new prime minister. wong takes over the reins of powerfrom lee hsien loong, who has been in the top post for 20 years. veteran economist song seng wun gave us a sense of the challenges ahead.
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where the challenge really lies for the new pm in terms of the last say 30—a0 years, food on the table, roof over the head, jobs for the kids and children to come, today's kids and young voters have different aspirations now and dealing with them is really about the different ambitions which include cost of living, housing and availability, even though all these things are creating better and well—paying jobs, there is almost the pressure itself. so balancing that will be the challenge. this being done is where the challenge will remain for singapore. dealing with all these aspirations will be the challenge, but we'll see how it goes. challenge, but we'll see how it noes. �* , . challenge, but we'll see how it
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noes. �*, . ., challenge, but we'll see how it noes. h . ., ., goes. there's so much going on in the world _ goes. there's so much going on in the world at _ goes. there's so much going on in the world at the _ goes. there's so much going on in the world at the moment, . goes. there's so much going on. in the world at the moment, how do you expect the new prime minister to deal with the balancing act of trade relations between the us and china? i relations between the us and china? ~ , , china? i think this is where i su ose china? i think this is where i sunpose wong _ china? i think this is where i suppose wong came - china? i think this is where i suppose wong came up - china? i think this is where i suppose wong came up and | china? i think this is where i - suppose wong came up and became the new leader, basically in charge of a team that has to deal with many issues on multiple fronts, domestic and external. i think it's all about what is in singapore prospect best interest, whether they deal with china, the us or they deal with china, the us or the asean region itself, it's what's best for singapore, and that's simple. india's media landscape has changed dramatically since 2014 when prime minister modi's hindu nationalist bjp swept to power. there's been growing privatisation. several national news channels once owned by independent media entrepreneurs are now controlled by billionaire tycoons. our india business correspondent nikhil inamdar has more on the impact.
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brand modi is the only thing this election is about. the prime minister _ this election is about. the prime minister has - this election is about. the prime minister has vanquished all the — prime minister has vanquished all the opposition... prime minister has vanquished all the opposition. . ._ all the opposition... india's tv news — all the opposition... india's tv news screens _ all the opposition... india's tv news screens night - all the opposition... india's| tv news screens night after night, dishing out flattering coverage of the prime minister. prime minister modi... coverage of the prime minister. prime minister modi. . .- prime minister modi. .. prime minister narendra _ prime minister modi. .. prime minister narendra modi. .. . prime minister modi. .. prime| minister narendra modi. .. for lona , minister narendra modi. .. for lona, in minister narendra modi. .. for long. in dtv _ minister narendra modi. .. for long, in dtv was _ minister narendra modi... fir?" long, in dtv was widely considered a low independent vos —— loan independent voice. last year it was snapped up in a hostile takeover by billionaire tycoon —— ndtv. it would not be the channel it was. , ., ., , would not be the channel it was. ,., ., , , was. this “ournalist became art of was. this “ournalist became part of a — was. this journalist became part of a mass _ was. this journalist became part of a mass exodus - was. this journalist became part of a mass exodus of i was. this journalist became. part of a mass exodus of star anchors as things began changing at the channel. if anchors as things began changing at the channel. if you look at the _ changing at the channel. if you look at the channel _ changing at the channel. if you look at the channel today, - changing at the channel. if you look at the channel today, it i look at the channel today, it is a far more sympathetic to the government, far more
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hostile to the opposition. there was a series of documentaries months after the takeover, it was like an advent hurry —— advertisement for the achievements of the modi government.— achievements of the modi covernment. a ., ., ., , government. the astana group denies the — government. the astana group denies the accusations, - denies the accusations, saying... india has hundreds of tv news channels. the opposition runs many regional bonds, but at the national level, most are owned or controlled by ruling politicians or select business barons. a pre—election analysis of primetime coverage it shows some of these generals have startling fundings. half of them had anti—opposition themes, overa them had anti—opposition themes, over a quarter praised themes, over a quarter praised the prime minister, and just i% spoke about issues like jobs and education. this perceived bias has a direct link to how these channels are funded. a
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big chunk of the money that many of these television channels earn is through private ads. prime minister modi's government has spent over $700 million on print and tv ads in their first eight years in office.— tv ads in their first eight years in office. there's news, sense, years in office. there's news, sense. and — years in office. there's news, sense. and do _ years in office. there's news, sense, and do send. - years in office. there's news, sense, and do send. this - years in office. there's news, . sense, and do send. this woman closely tracks — sense, and do send. this woman closely tracks the _ sense, and do send. this woman closely tracks the media. - sense, and do send. this woman closely tracks the media. large | closely tracks the media. large sections of _ closely tracks the media. large sections of media _ closely tracks the media. large sections of media owners - closely tracks the media. large j sections of media owners today have business interests in the media. it is very difficult for them to have a news channel that questions the very government they are working with for business. the opposition _ with for business. the opposition says - with for business. the opposition says the i with for business. the opposition says the media is no longer asking tough questions to the government. however, it government adviser told us it wasn't the journalists's job. all this is a newfangled motion of holding power to account, interrogating power, speaking truth to power — that is
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language for activists. figs truth to power - that is language for activists. as mr modi seeks _ language for activists. as mr modi seeks a _ language for activists. as mr modi seeks a third _ language for activists. as mrj modi seeks a third mandate, critics say the current tv landscape gives him a distinct advantage, as big money appears to have squeezed out many independent voices. before we go, dating app bumble has apologised after being stung by critics that said its advertisements shamed women who were not sexually active. the marketing campaign included messages such as "thou shalt not give up on dating and become a nun". and that's it for this edition of business today. thanks for watching. stay with bbc news.
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hello, and welcome to sportsday — i'm marc edwards. coming up on the programme... champions in waiting? manchester city beat tottenham to put themselves on the verge of a historic premier league title. tiger admits he's tired of the fallout between the pga and liv golf, and calls on the two tours to find a way to work together.
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and the countdown is on in riyadh, as tyson fury

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