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tv   Business Today  BBC News  June 4, 2024 2:30am-2:46am BST

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let's begin in india where its 7—week—long elections are reaching their culmination today as the votes get counted. over 640 million people exercised their right to vote in the world's largest democracy where the incumbent prime minister mr narendra modi has sought a third term, and post poll projections show he mayjust get that. financial markets, on their part, are already taking a cue. archana shukla has the details. tell us more about how markets have reacted and what's expected today.- have reacted and what's expected today. i'm standing riaht expected today. i'm standing right outside _ expected today. i'm standing right outside the _ expected today. i'm standing right outside the bombay - expected today. i'm standing l right outside the bombay stock exchange and we saw the exchanges hit lifetime highs yesterday and monday, driven largely by post—poll projections that predict a third term and eight comfortable majority for prime
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minister modi's party and its allies. some of the post—poll projections show they might get a two thirds majority which will be more than in 2019. and the markets are hoping that economic friendly policies of the modi government and market friendly reforms will continue in india which is right now the fastest growing major economy in the world. just on friday, india released its full year, full financial year fy 2a gdp numbers and reported a vast 8% growth —— vast 8% growth. prime minister modi's party has taken credit for taking india on that path and markets are sharing the likelihood that the government will come back. multiple projections are still projections of the end of the day and in the past they've also gone wrong so today, and am on words when that counting seat by seat in the selection
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starts, we'll get a fair sense of where things stand and the market reaction in the days to come will also depend on whether the majority comes to the ruling alliance led by per mr modi and how many seats to the gap. mr modi and how many seats to the aa -. , mr modi and how many seats to the aa-. , . ., the gap. this election will also be seen _ the gap. this election will also be seen as _ the gap. this election will also be seen as a - the gap. this election will. also be seen as a referendum the gap. this election will- also be seen as a referendum on narendra modi's economic push. absolutely, and that's what prime minister modi's party has penned all their hopes on. economy was one of the biggest agenda and talking points this election, whether it was the massive infrastructure led economic driver or manufacturing, both of which prime minister modi's party say they have done a lot. but india's economic growth largely if you look at the fine print, has been unequal in its growth. the prosperity of the urban india has not really trickled down to the masses, and that is one of the biggest challenges. as well as creating enough jobs for people and for the use that's joining the workforce and this has been two of them
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criticisms by the opposition party. in their manifestos they have promised to bring in more jobs and look at continuing the reform agenda and this election definitely would be a referendum on the economic push by the modi government. in the election, to this large extent was also marked by divisive speeches, high—pitched campaigns, fake news and also concerns that this election was not as fair and equal as it should have been. thanks very much for— should have been. thanks very much for getting _ should have been. thanks very much for getting us _ should have been. thanks very much for getting us off - should have been. thanks very much for getting us off to - much for getting us off to speed today, speaking us to live. you can get more reaction on our live updates on our website. there'll be a live update on our website later this morning so do check out bbc.com/news. now to the aviation sector — because three international airlines have been hit with fines for slow covid refunds. lufthansa, klm royal dutch airlines and south african
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airways have all face civil penalties totalling $2.5 million. michelle fleury has the latest from new york. yes. the us department of transportation said today's action stems from extreme delays in refunds worth more than $900 million from lufthansa, klm and south african airways. all of this related to covid—19 flight changes and cancellations. now, on top of the refunds the three airlines have already paid back, they now face a hefty fine. us transportation secretary pete buttigieg said this was about holding airlines accountable, adding that passengers, well, they shouldn't have to fight with the airline to get their money back. lufthansa and dutch flag carrier klm were both fined over $1 million each. south african airways was ordered to pay $300,000. germany's lufthansa said in a statement it had made all the required refunds and blamed the historically unprecedented level of refunds during the covid—19 pandemic for the delay. the department of transportation, meanwhile,
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has launched a new dashboard in an attempt to put public pressure on airlines to address customer concerns. all of this has caused the biden administration to cut back on so—called junk fees. let's stay with the airline sector — because industry we're in the early days ofjune — which usually marks the start of the summer season in the northern hemisphere. in the us — one of the popular past times would be going to the movies. movie—goers are also now faced with another option at the cinema, the even larger screen format known as imax. last year's summer blockbuster 0ppenheimer was the biggest earner for imax screens, surpassing 180 million us dollars in ticket sales. the company's chief richard gelfond told me how it's the company's chief richard gelfond told me how it's competing against all the streaming giants. well, imax is a very different experience. it feels like you're there, it's awe—inspiring for people. so for us, �*23 was equivalent to the best year we have ever had, in 2019, and for some of these movies, specially made for imax, like you mentioned 0ppenheimer, dune two,
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north american box office on less than 1% of the screens. some people have been gravitating post—pandemic and to your question, with streaming, so something premium, something really special and that's imax. let's talk about climate change because as countries try to cut emissions, many are choosing nuclear energy. but hundreds of thousands of tonnes of nuclear waste has been piling up in temporary storage. finland thinks it has a solution. adrienne murray travelled to eurajoki to find out more. it's a brief elevator ride almost half a kilometre underground into the depths, where for the first time anywhere in the world, highly radioactive nuclear waste will be permanently stored. these tunnels span more than 50 kilometres.
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0ur depth at the moment is about 430 metres. eventually, they'll hold 6,500 tonnes of spent uranium — all the waste finland's five reactors will ever produce. it takes hundreds of thousands of years for radioactive waste to safely decay. and this underground tomb is the final resting place for finland's spent nuclear fuel. the bedrock here is almost two billion years old, and geologists think it's ideal for a nuclear graveyard. and the whole western finland is located in a really stable, geologically stable area. we have hardly any earthquakes, and the ground weather conditions are good for our concept. video: a final- disposal facility. .. remote controlled machines will do the work slotting five metre copper canisters into holes in the rock before it's sealed off with clay and a thick concrete plug. most radioactive waste
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is temporarily stored in pools above ground. and worldwide, around 260,000 tonnes are piling up. but finland believes a geological tomb like this offers a safer solution. you need to cool down the spent fuel for a0 years. world is full of those temporary storages and almost all of that, this waste is ready to be put to its final place. you might imagine that few would welcome such a facility in their backyard, but two thirds of finns support nuclear energy. and in the neighbouring town of eurajoki, locals have been won over byjobs and huge tax revenues. when they built it, there was a lot of employees, workers, and it bring money. if we look around, everything here is because of that. - it has given us everything. it'sjust a fact. the nearby power plant is now home to three reactors after europe's newest and most
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powerful were switched on last year. amid heightened tensions with russia, it's been fortunate timing and has helped spare finland from the worst of europe's energy crisis. we have a history of being the most dependent on imports in electricity. and finally now we are not dependent on imports anymore. nuclear power doesn't produce any direct carbon emissions, and here it's seen as climate friendly. even finland's green party have backed it. more than 90%. .. but some environmentalists still worry about the risks. you have ways that you should take care of for enormous - amount of generation. so it would be hard to say i that it would be sustainable. while some countries like germany, have said no to nuclear, others, including the uk, are building new reactors and are watching finland very closely. adrienne murray, bbc news, eurajoki.
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and before we go... shares in paramount global have jumped after reports said it has agreed with skydance media on terms for a merger. according to cnbc, the deal is said to be worth about $8 billion and it can be announced in the next 2a to 48 hours. 0ur live pages up and running, for the indy election. as the counting continues throughout the day we will have updates online. bye for now.
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hello and welcome to sportsday — i'm gavin ramjaun. djokovic does it again — the world number one comes back from the brink of defeat to make the quarter finals of the french open. kylian mbappe says it's a "dream come true" as his long—awaited move to real madrid is confirmed. and jos buttler tells us he's keen to forget, as england begin the defence of the t20 cricket world cup.
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hello there, and welcome along to the programme. we begin with an incredible comeback from novak djokovic at the french open, which saw the world number one reach a record 59th grand slam quarterfinal. djokovic cruised the first set against francisco cerundolo 6—1, but looked in real trouble after that. his opponent levelled, then went ahead, after djokovic struggled with a knee injury. as we've seen before though, you can never rule him out, and the defending champion dug in, to win the next two sets, 7—5, 6—3. another epic five—setter for djokovic, who is chasing a record extending 25th major title this year. in the women's draw, the quarter finals are complete. aryna sabalenka continued her sparkling form at roland garros. and it was a comfortable win for second seed — she eased past emma navarro in straight sets, 6—2, 6—3 and will play 17—year—old mirra andreeva in the quarter—finals. during the matchday,
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i'm really focused and i'm

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