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tv   Business Today  BBC News  June 19, 2024 12:30am-12:46am BST

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hello and welcome to business today. i'm arunoday mukharji. a moment of reckoning for boeing as an iconic american manufacturer comes under tense questioning from members of a us senate subcommittee. boeing's outgoing ceo, dave calhoun, responded to questions about boeing's path forward after a string of safety failures, production problems, and whistle—blower accounts. our north america business correspondent erin delmore has all the details. tuesday's hearing, dave calhoun was confronted by senators with boeing safety failures and confronted by families with the loss of life those safety failures caused. when two boeing jets crashed five years ago killing 346 people. he spoke directly to those who lost loved ones. you make i apologise for the grief that we
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have caused and i want you to know we are totally committed to their memory and know we are totally committed to their memor- to their memory and focus on safety for _ to their memory and focus on safety for as _ to their memory and focus on safety for as long, _ to their memory and focus on safety for as long, as - to their memory and focus on safety for as long, as long . to their memory and focus on safety for as long, as long as| safety for as long, as long as we are — safety for as long, as long as we are employed by boeing. again, — we are employed by boeing. again, i_ we are employed by boeing. again, lam we are employed by boeing. again, i am sorry. we are employed by boeing. again, lam sorry. mr we are employed by boeing. again, i am sorry. mr calhoun faced a tough _ again, i am sorry. mr calhoun faced a tough grilling - again, i am sorry. mr calhoun faced a tough grilling from - faced a tough grilling from senators who cast the one to great giant of engineering and weekend of american industry as a shell of its former self. subcommittee chair called boeing safety�*s lapse is a matter of life and death with profound consequences for the economy and travelling public. safety issues, production short cuts and a lack of transparency has been a renewed focus since a door panel blew out of a boeing jet mid—flight in january. and as regulators reports and whistle—blower testimony pointed to wrongdoing on the aeroplane maker's part. also on tuesday, a new whistle—blower alleged that boeing used nonconforming parts and lied to regulators about it. ~ , , ., , .,
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and lied to regulators about it. well, behind you, you can't see it from — it. well, behind you, you can't see it from behind _ it. well, behind you, you can't see it from behind you, - it. well, behind you, you can't see it from behind you, the i see it from behind you, the folks— see it from behind you, the folks are _ see it from behind you, the folks are showing pictures of the people who were the victims of your— the people who were the victims of your safety record. i think we can— of your safety record. i think we can all— of your safety record. i think we can all see them. and i think— we can all see them. and i think the _ we can all see them. and i think the american public when they fear— think the american public when they fear to get on aeroplanes, they— they fear to get on aeroplanes, they understand your safety record~ _ they understand your safety record. frankly, ithink they understand your safety record. frankly, i think it's a travesty— record. frankly, i think it's a travesty you are still in your job — travesty you are still in your 'ob. �* ., �* , , ., travesty you are still in your 'ob. ., ,., travesty you are still in your 'ob. ., ,. job. boeing's share prices are down more — job. boeing's share prices are down more than _ job. boeing's share prices are down more than 3096 - job. boeing's share prices are down more than 3096 this - job. boeing's share prices are i down more than 3096 this year. down more than 30% this year. the federal aviation administration is eliminating the production of its new max jets and the department of justice has said the company is now subject to criminal prosecution after breaching the terms of its 2021 deferred prosecution agreement. mr calhoun has announced that he will step down at the end of the year. the search for his replacement is under way. for that and more, _ i spoke with veteran aerospace analyst richard aboulafia, who explained what he thinks needs to happen at boeing to turn things around. i think the question for the most part was fair and the answers predictably somewhat
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evasive. the one phrase i think senatorjohn used that really resonated was root cause. and it was on the part of the ceo, dave calhoun to actually look and consider the root cause of how this disintegration in the connections between management and the people who come well, build and design aeroplanes happened. build and design aeroplanes happened-— build and design aeroplanes happened. build and design aeroplanes ha ened. ., ., .,, happened. you mentioned it was tense, something _ happened. you mentioned it was tense, something we _ happened. you mentioned it was tense, something we been - tense, something we been reporting on his welcome of families present at the hearing, even instances where they yelled at the ceo. how would you say the public is looking at boeing and what is the company doing to try and build trust?— build trust? frankly, little, to be honest. _ build trust? frankly, little, to be honest. what - build trust? frankly, little, to be honest. what they i build trust? frankly, little, - to be honest. what they simply need is a new management team, and thankfully dave calhoun is stepping down. this was kind of a scenario frankly and management. and what needs to happen is someone needs to come in who is intermittently familiar with that and the manufacturer of aircraft. you
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know? and the legendary ceo back of the commercial unit back of the commercial unit back a couple of decades ago who later went on to be ceo of ford, someone of his stature to be able to provide leadership and explain to the american people what went wrong, what were the root causes, what took place, i think would be transformational, but until that happens, you are just going to see more of this evasiveness and random procedural changes. sticking with the us — software company and artificial initelligence darling nvidia, has overtaken microsoft to become the world's most valuable publicly traded company. it's stock rose 3.5% overnight, giving it a market valuation of $3.34 trillion — which is higher than both microsoft and apple. nvidia makes computer chips needed for artificial intelligence software, and demand for its products has boosted its sales and profits over the last few years. artificial intelligence was also a big focus at the g7 summit last week.
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the group of the world's largest advanced economies is still in the midst of creating a framework to regulate a—i. there are concerns surrounding the technology. earlier this week, the international monetary fund said it had "profound concerns" about the impact of generative ai onjobs and inequality. i spoke with the president and chief executive of the information technology industry council, jason oxman — who gave us his outlook for al and nvidia. it's an exciting day for shareholders and those technology the broader question is what does this say about our excitement for al? clearly artificial intelligence is going to be the generational change in technology across a variety of industries. it's keen to focus on what it means for the technology industry and obviously it's important for tech because it's enabler of ai but ai is really a game changer for all industries. and i think that's why you are seeing
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excitement about the companies that are involved in the ecosystem.— that are involved in the ecos stem. , . ecosystem. there is excitement, went back _ ecosystem. there is excitement, went back to _ ecosystem. there is excitement, went back to the _ ecosystem. there is excitement, went back to the g7 _ ecosystem. there is excitement, went back to the g7 summit - ecosystem. there is excitement, went back to the g7 summit and | went back to the g7 summit and what you heard. how would you say some of the announcements are resonating with the company �*s? it are resonating with the company 's? , , , ., , 's? it is very positive development. - 's? it is very positive development. the i 's? it is very positive - development. the hiroshima accord, which is really looking at a global regulatory approach to ai really ensures that the bee don't have country specific approaches, that we take a risk—based approach to ensure the technology can be deployed safely and effectively to the benefit of all. and the advantage of having the g7 look at it and working with the oa cd to include more countries than just the seven that are involved there, the advantage is really that we take a risk—based approach, what that means is we look at the technology and ensure it is being put to good use. we have guidelines in place to ensure that consumers are protected, but we make sure that we don't have geographic specific approaches that might hinder the development and the effective deployment of ai technologies.— effective deployment of ai technologies. and impact the innovativeness _ technologies. and impact the innovativeness as _ technologies. and impact the innovativeness as companies| innovativeness as companies said before. what kind of progress are you seeing in
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terms of having that kind of a framework? its, terms of having that kind of a framework?— framework? a lot of great progress- _ framework? a lot of great progress. the _ framework? a lot of great progress. the progress i framework? a lot of great progress. the progress is| framework? a lot of great i progress. the progress is on the guidelines, the risk—based approach that the hiroshima accord really looks at, but it's also addressing other areas, cybersecurity, for example creating an announcement yesterday for companies that came out of the white house looking at a g7 approach to cybersecurity for energy using ai approach to cybersecurity for energy using al to improve cybersecurity there. it's also taking a look at al across a variety of different industries, medical applications, education, health care, i would argue contrary to the imf that al creates a lot of opportunities forjob of opportunities for job creation of opportunities forjob creation and we need to focus on rescaling, for example, which the g7 is also focused on, so a lot of exciting activity and taking that global approach because technology crosses borders, to make sure we can all succeed together. how are they reacting to the us tensions and tariffs? tote how are they reacting to the us tensions and tariffs?— tensions and tariffs? we are lookin: tensions and tariffs? we are looking at — tensions and tariffs? we are looking at those _ tensions and tariffs? we are looking at those tariff i tensions and tariffs? we are j looking at those tariff issues with an eye towards diverse
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applying supply chains. returning from vietnam to talk about how the economies can really provide an opportunity for diversification of supply chains. tariff is not a good policy and we do need to protect national security but we need to make sure also that supply chains are diverse across ai. now to india where google has announced it is launching its gemini ai app for android devices. the artificial intelligence assistant which was unveiled in december 2023 was so far available only in select regions like the us. the bbc�*s nikhil inamdar as more on the launch. welcome of this announcement was made in a tweet who called it an exciting development and said the app will be available in english and nine other locally linkage, including bengali and hindu among others. along with the some of the company is also ruling out a facility that will allow indian
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users to chat with gemini and google messages. gemini allows users to get help through a range of tasks from writing texts to getting instructions for things such as changing a car tire, for instance. google is also adding support for indian languages to its advanced version, which can undertake complex data analytics and visualisation and also helps users upload large 1500 page documents. google will compete with open ai's chat gpt in india. gemini has been involved in a controversy recently in the country and had toissue recently in the country and had to issue an apology to the indian government after the ai platform returned controversial search results about the prime minister. his government is now set to be mulling a new law to regulate the technology. before we go — fast food giant mcdonald's has announced that it will remove an ordering system powered by a—i
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from its drive—through restaurants in the us. the automated system has proved unreliable, resulting in some comically misinterpreted orders. one customer's receipt said they'd ordered ice cream topped with bacon, while another listed a request for hundreds of dollars worth of chicken nuggets. mcdonald's said the technology would be removed from more than one—hundred restaurants by the end ofjuly. and that's it for this edition of business today. thanks for watching. much more in all of those stories on the business segment on the bbc news website.
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hello and welcome to sportsday — i'm paul scott at the bbc sport centre — here's what's coming up. portugal score in injury time — to come from behind
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and beat the czech republic in their euro 2024 opener. turkey score a couple of goal of the tournament contenders as georgia are condemned to defeat in their first ever match at the euros. and a winning start on the grass as carlos alcaraz secures victory in his opening match at queens. portugal made a winning start to their euro 2024 campaign, after coming from behind to beat the czech republic 2—1. while in theirfirst ever match at a major international tournament — georgia fell to a 3—1 defeat to turkey. joe wilson rounds up tuesday's action in germany. can you imagine the euros without cristiano ronaldo?
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not sure he can.

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