tv Business Today BBC News June 12, 2024 2:30am-2:46am BST
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the fight to be the world's most valuable company heats up, after apple announces new ai tools on its devices. and as smartphones get smarter — can you survive without one? we put a group of teenagers to the test. hello and welcome to business today. apple shares have surged to a record high, after it unveiled new ai tools. the tech giant is now valued at $3.18 trillion just behind microsoft, which remains the world's most valuable company. from new york, erin delmore has the details. have been waiting for months to
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see how investors who embrace ai see how investors who embrace al to see how investors who embrace alto big market gains. on monday, they got their answer — a partnership with openai and some ai generated images and emojis. but even though the news came on monday, it wasn't until tuesday that the market rewarded apple's efforts. on monday, apple shares actually opened down around 2%. but on tuesday, shares ended the day up tuesday, shares ended the day up 5% to around $203 per share. that's a new record high for apple — besting the previous high we saw in december. see, those new ai tools are only available on newer models of apple products, like the iphone 15pro, the 1a series and older won't do it. neither will the base model iphone 15. and ipads and base model iphone15. and ipads and macs will need to have apple's m1 chip or newer. investors are betting that
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consumers will upgrade their devices to take advantage of the new tools, which would lead to more sales for apple. staying with al investments. shares in oracle havejumped by as much as 11 percent after it announced cloud deals with google and openai. it comes despite the software giant's fourth—quarter results falling short of expectations. oracle is trying to catch up with cloud giants like microsoft who are seeing rapid growth as a result of tie ups with openai. elon musk has withdrawn a lawsuit against the maker of chatgpt, open ai. the case accused ceo sam altman of abandoning the start—up�*s original mission of developing artificial intelligence for the benefit of humanity, and not for profit. no reason was given for the request to dismiss. policymakers at the us central bank are in session to decide on the cost of borrowing. the fed is expected to hold interest rates steady. inflation data is also due and the question is if it could that sway the fed's
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rate cut decision. david chao, global market strategist at invesco says asian countries are in a good position to deal with any decision. well, we've seen some deappreciatiating pressures in places like japan with their currency, given the interest rate deferential. and certainly, all centre banks are waiting for the fed to cut rates. but at the same time, i think that asian economies are much better this time around with their external buffers that can with some of the pressure. but certainly, rates are too high in asia in places like korea and thailand. and they should have been cut already. if it wasn't for the fed. ~ ., ., ., fed. we are counting down to the us presidential— fed. we are counting down to the us presidential electionsl the us presidential elections and i wanted to get your thoughts on this as well. how do you think, given the political scenario there — how do you think that the politics
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are likely to play out on the economics going forward? well, from a markets _ economics going forward? well, from a markets perspective, - from a markets perspective, we've done regression analysis, and there is no rhyme or reason in terms of if a democrat president or republican president or republican president is in the white house, and what that means for asian markets. asian markets have largely shrugged this off. so let me just say that, heading into the presidential election, there could be a few jitters with asian markets. but we think that it is mostly a near—term phenomena. certainly, president trump has previously said that he's going to increase tariffs against places like china, and also other places in and around the world that would certainly not be conducive to trade. whereas president biden has shown that he's more strategic when it comes to trading partners. so i think that it is something that we're keeping a close eye on, but we're not worried from a
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long—term perspective and in terms of the impact that it will have on asian markets. india will continue to be the world's fastest—growing large economy, according to the world bank. the world's most populous nation is in the midst of a slowdown but is forecast to grow by 6.6% this year. the world bank says indonesia and vietnam are also likely to be bright spots among major economies in asia. singapore airlines has sent compensation offers to passengers on a flight last month that ran into severe turbulence. dozens of passengers were injured and one person died. passengers with minor injuries have been offered $10,000 while those with serious injuries have been told their needs can be discussed. so, how common is this? i put that question to ellis taylor from consultancy cirium. it is an unusual circumstance. and i guess, to give singapore airlines their credit — they've been very proactive and putting out very generous compensation
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there. it is one of these things where if you are in a major incident, that there is set compensation that's there. but what we're seeing is that with a lot of these larger airlines, they will top—up on what are the set amounts in this. and in this case, singapore airlines has had form when there's been accidents to give pay—outs also and above the limits. so it could be something that we'll start to see a bit more on. we something that we'll start to see a bit more on.— see a bit more on. we are hearing — see a bit more on. we are hearing that _ see a bit more on. we are hearing that turbulence i see a bit more on. we are hearing that turbulence is | hearing that turbulence is going to be more common going forward given climate change and other aspects. does this set a precedent? we know that sing apore has —— singapore airlines has deeper pockets. but what about other airlines? can they do the same? it but what about other airlines? can they do the same?- can they do the same? it will come down — can they do the same? it will come down to _ can they do the same? it will come down to when - can they do the same? it will come down to when other - come down to when other airlines give more generous payments for an accident, it really does raise the bench mark and become something that globally, the industry works towards. so i think that we will see these payments become a little bit more normalised
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and a bit more generous compared to what you may have thought of before. but really, it will depepped on how isolated these incidents are. the opposite may also happen if severe turbulence happens more often that airlines may look to reduce the paints just because it becomes a little bit more part of what's involved in travelling. how long can you last without your smartphone? a few hours? a day? well, the bbc�*s kristian johnson followed a group of british teenagers to see how they cope without their smartphones for five whole days. it's fair to say some teenagers are pretty glued to their phones. ok, guys, point of no return. thank you. but this group of students are doing the unthinkable, locking them away for almost a week. you said your goodbye. yes. no tik—tok. no snapchat. no whatsapp. so, guys, these are your new mobile phone instead that we're using these
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for the next five days. the only way of communicating texts and calls. i want to nokia. so this is weird, i don't like it. they're going to have to learn a whole new set of skills for the next week to be able to adapt and continue their life as close to what it used to be. but with that mobile phone underpinning most of their activities, it's going to be a real challenge. it's like having a comfort item for how — it's like having a comfort item for how many years. and it just goes _ for how many years. and it just goes it's— for how many years. and it just goes. it's really stressful. not — goes. it's really stressful. not knowing what's going on in a group — not knowing what's going on in a group chat, _ not knowing what's going on in a group chat, what _ not knowing what's going on in a group chat, what am - not knowing what's going on in a group chat, what am i- not knowing what's going on inl a group chat, what am i missing out on? — a group chat, what am i missing out on? , . , a group chat, what am i missing outon? , ., , , ., ., ., out on? usually before i go to bed, i out on? usually before i go to bed. i watch _ out on? usually before i go to bed, i watch it _ out on? usually before i go to bed, i watch it for _ out on? usually before i go to bed, i watch it for an - out on? usually before i go to bed, i watch it for an hour. i bed, i watch it for an hour. but sips then, i've gone straight to sleep and it's weird. it feels much better. will's time home is a tram first and then a bus. in terms
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ofthe first and then a bus. in terms of the smartphone, - first and then a bus. in terms of the smartphone, it - first and then a bus. in terms of the smartphone, it makes| first and then a bus. in terms. of the smartphone, it makes it more difficult because i can't see the timetable or when it says that it is delayed, i can at least ring my dad and ask for a lift. you know.- for a lift. you know. will's mum, alison, _ for a lift. you know. will's mum, alison, admits- for a lift. you know. will's mum, alison, admits not| for a lift. you know. will's - mum, alison, admits not being able to use family tracking apps like life 360 is a hindrance but she's noticed big changes in her sonjust three days into the detox. it’s days into the detox. it's actually _ days into the detox. it's actually quite _ days into the detox. it's actually quite nice - days into the detox. it�*s actually quite nice seeing you without the headphones. we don't see you that much normally. don't see you that much normally-— don't see you that much normally.- and - don't see you that much normally.- and i - don't see you that much normally. 1140. and i think that normally. no. and i think that it hasiust _ normally. no. and i think that it hasjust become the norm. it has just become the norm. whereas social interaction does require you to put these things away and engage a little bit more. . away and engage a little bit more.- five _ away and engage a little bit more.- five days - away and engage a little bit| more.- five days later, more. yeah. five days later, it's the end _ more. yeah. five days later, it's the end of _ more. yeah. five days later, it's the end of term - more. yeah. five days later, it's the end of term and - more. yeah. five days later, j it's the end of term and time to get the smartphones back. is that yours? maybe _ to get the smartphones back. is that yours? maybe i'll _ to get the smartphones back. is that yours? maybe i'll put - to get the smartphones back. is that yours? maybe i'll put my i that yours? maybe i'll put my -hone that yours? maybe i'll put my phone away _ that yours? maybe i'll put my phone away in _ that yours? maybe i'll put my phone away in the _ that yours? maybe i'll put my phone away in the car- that yours? maybe i'll put my phone away in the car and - that yours? maybe i'll put my phone away in the car and pm phone away in the car and i'll put my— phone away in the car and i'll put my phone away when i'm around — put my phone away when i'm around my friends. but in general, _ around my friends. but in general, like going on tiktok and everything — i'm so still going — and everything — i'm so still going to _ and everything — i'm so still going to do that. like if anything, i'm going to do it more — anything, i'm going to do it more now. | anything, i'm going to do it more nova— more now. i think it's been re more now. i think it's been pretty difficult _ more now. i think it's been pretty difficult without - more now. i think it's been pretty difficult without a i pretty difficult without a smartphone _ pretty difficult without a smartphone but - pretty difficult without a smartphone but i've - pretty difficult without a - smartphone but i've managed to -et smartphone but i've managed to get it_
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smartphone but i've managed to get it through _ smartphone but i've managed to get it through it_ smartphone but i've managed to get it through it all— smartphone but i've managed to get it through it all right. - get it through it all right. i'll try— get it through it all right. i'll try to— get it through it all right. i'll try to use _ get it through it all right. i'll try to use less - get it through it all right. i'll try to use less of- get it through it all right. i i'll try to use less of tiktok. my screen _ i'll try to use less of tiktok. my screen time _ i'll try to use less of tiktok. my screen time is _ i'll try to use less of tiktok. my screen time is high - i'll try to use less of tiktok. my screen time is high on . i'll try to use less of tiktok. i my screen time is high on that. judging — my screen time is high on that. judging by— my screen time is high on that. judging by the _ my screen time is high on that. judging by the initial— judging by the initial reaction, perhaps the students aren't quite ready to give up their smartphones entirely but their smartphones entirely but the detox might start to slowly change their habits. gamestop has raised around $2.14 billion from a share sale programme. retail investors have turbo charged the stock after influencer roaring kitty, also known as keith gill, talked up the shares following his highly anticipated return to youtube. shares in the so called meme stock are up by around 5%. joey "jaws" chestnut has been told he cannot take part in america's premiere hot dog contest. it comes after the competitive eating star struck a sponsorship deal with vegan brand — impossible foods. chestnut has been removed from next month's nathan's hot dog eating contest in new york. nathan's and impossible are direct competitors in the hot dog space. and that's it for this edition of business today. thanks for watching.
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presence, about fostering relationships around the world. we're not chasing stories, we're _ we're not chasing stories, we're already there. it�*s we're not chasing stories, we're already there. it's about atience we're already there. it's about patience - _ we're already there. it's about patience - not _ we're already there. it's about patience - not rushing - we're already there. it's about patience - not rushing to - we're already there. it's about patience - not rushing to be . patience — not rushing to be the — patience — not rushing to be the first, _ patience — not rushing to be the first, but _ patience — not rushing to be the first, but striving - patience — not rushing to be the first, but striving to - patience — not rushing to be the first, but striving to get| the first, but striving to get it right _ the first, but striving to get it riuht. ., ., it right. to get to the truth. precision- _ it right. to get to the truth. precision. knowledge. - it right. to get to the truth. | precision. knowledge. facts. wadina precision. knowledge. facts. wading through _ precision. knowledge. facts. wading through endless - precision. knowledge. facts. i wading through endless waves precision. knowledge. facts. - wading through endless waves of disinformation. we wading through endless waves of disinformation.— disinformation. we can't 'ust ask the questions. �* disinformation. we can't 'ust ask the questions. we h disinformation. we can'tjust ask the questions. we have l disinformation. we can'tjust. ask the questions. we have to auestion ask the questions. we have to question the _ ask the questions. we have to question the answers. - question the answers. debate. debate. debate. irate question the answers. debate. debate. debate. we have to create a — debate. debate. debate. we have to create a space _ debate. debate. debate. we have to create a space for _ debate. debate. debate. we have to create a space for opposing - to create a space for opposing voices— to create a space for opposing voices to _ to create a space for opposing voices to he _ to create a space for opposing voices to be heard. _ to create a space for opposing voices to be heard. find- voices to be heard. and challenged. _ voices to be heard. and challenged. we - voices to be heard. and challenged. we fight i voices to be heard. and i challenged. we fight every day- -- to _ challenged. we fight every day... to earn _ challenged. we fight every day. .. to earn your- challenged. we fight every day... to earn your trust. l challenged. we fight every i day... to earn your trust. and we never _ day... to earn your trust. and we never take _ day... to earn your trust. and we never take it _ day... to earn your trust. and we never take it for _ day... to earn your trust. and we never take it for granted. l we never take it for granted. we capture _ we never take it for granted. we capture the _ we never take it for granted. we capture the story. - we never take it for granted. we capture the story. fact. we capture the story. fact check the story. irate we capture the story. fact check the story.— we capture the story. fact check the story. we break the sto . check the story. we break the story- we _ check the story. we break the story. we explore _ check the story. we break the story. we explore the - check the story. we break the story. we explore the story. | check the story. we break the l story. we explore the story. so ou can story. we explore the story. so you can trust — story. we explore the story. so you can trust us _ story. we explore the story. so you can trust us to _ story. we explore the story. so you can trust us to tell - story. we explore the story. so you can trust us to tell it. -
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hello and welcome to sportsday. i'm marc edwards. raising the bar. italy's olympic champion gianmarco tamberi thrills home fans by taking highjump gold at the european athletics championships. erik staying hag, the dutchman, will remain as manager of manchester united following a post—season review and still in with a chance. pakistan beat canada as they live to fight another day at the t20 world cup.
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