Skip to main content

tv   Business Today  BBC News  June 24, 2024 5:30am-6:01am BST

5:30 am
with the european union over eu tariffs on chinese electric vehicles. and... a more flexible approach — india holds its first session of parliament since prime minister modi was re—elected with a reduced majority. welcome to business today, i'm sally bundock. we start with something we're onlyjust getting a taste of here in the uk this summer — and that is heat. yellow heat health alerts are in place for most of england this week, as daytime temperatures look set to reach 30 degrees celsius. significant, but cool in comparison to many parts of the world, which are currently sweltering under above average temperatures. in the us more than 100 million people were under heat warnings on sunday, with cities on the east coast bracing for record—breaking
5:31 am
temperatures as what's called a heat dome is causing the dangerous conditions to expand. in south—eastern europe temperatures of a0 degrees celsius have caused power cuts in tourist hotspots like croatia, impacting all sorts — such as traffic lights failing. and as you've just been hearing, in saudi arabia at least 1,301 people died during this year's hajj pilgrimage to mecca — the most devastating example of the impact of extreme heat. no surprise, then, that this is changing the way we choose to travel — something that is particularly important for those countries who rely on tourism to support their economies. joining me now is andrew holden — professor of environment and tourism at goldsmiths university of london. good morning to you. no good morning. so this issue of extreme heat is not new to us.
5:32 am
we saw last summer many parts of europe experiencing very high temperatures, wildfires impacting tourism. to what extent are we changing our choices when it comes to where we holiday as a consequence? yes, the frequency of these extreme heatwaves is becoming more regular and will become more regular and will become more regular and will become more regular into the future. and it will require adaptation, both by destinations, but also in terms of the markets. so we will be looking more at holidaying, taking of holidays and vacations during what is traditionally the summer period, so the nonpeak periods, whether in europe or south of europe or in hawaii or parts of america, when it is less hot and more comfortable for us as
5:33 am
individuals and we can enjoy ourselves. i mean, one of the main points about being a tourist, of course, is to go for physical and psychological recuperation to relax and that is very, very difficult to achieve in extreme heat. and that has been the pattern of our tourism to the mediterranean and the caribbean, that is traditionally what the mass market has been interested in. but many countries now all over the world, but certainly in europe, they have serious water shortages already. and this is a real problem because in the tourist hot spots everyone now is expecting at least a swimming pool to cool off and other features, swimming pool to cool off and otherfeatures, air conditioning, other features, air conditioning, the otherfeatures, air conditioning, the impact on energy, those who provide tourism destinations have got tourism destinations have got to think about all of this. absolutely, it is about the adaptation of the destinations
5:34 am
and hydro excess, water shortages as well of the major aspects of what is going to have to be done very quickly. i mean, that is being experienced in many destinations from lanzarote to granada, tourists require a lot of water because, as you say, it requires a swimming pool, golf courses, perhaps taking more showers than usual, you know, the water consumption is much higher than local people, very often, and thatis local people, very often, and that is leading to problems in terms of water supply for local communities, but also in ecosystems and the other knock—on effect, as you say, is the infrastructure. you mentioned the balkans and the problems in croatia, and they have experienced this week supermarkets, cafe sand restaurant is being shut because of people needing to have their air—conditioning on and because the extreme heat and because the extreme heat and that led to power shortages
5:35 am
and that led to power shortages and great reduction in availability of energy. 0k. andrew. _ availability of energy. 0k. andrew. a _ availability of energy. 0k. andrew, a lot _ availability of energy. 0k. andrew, a lot of - availability of energy. 0k. andrew, a lot of challenges clearly presented by this. thank you for talking to us about this. let's stay with the subject of travel and, as you were hearing... manchester airport, where flights have resumed this morning after a day of major disruption. flights were cancelled, delayed or diverted on sunday with up to 90,000 passengers affected. a power cut hit the travel hub early on sunday morning. simon browning has the latest. yesterday's chaos unfolded in a dark terminal. an early morning power cut taking manchester airport into shutdown. oh, it has been horrendous. i think what the problem was, manchester airport have not given the proper information to anybody on board. to anybody on the boards. you know, you work so hard, don't you, all year and everything and then you try to get away and then
5:36 am
you just have been met with this, so... we'lljust have to go home and we willjust rebook it another day. very congested. not a whole lot of direction as far as where to go or what to do, so it has been kind of trying to poke at people and see what we can find out. a big power spike in the airport electrical systems led to huge failure, affecting security, baggage and check—in. restoring power was complex. queues quickly built up inside and outside the airport — queues that should be on the runway tarmac now in the car park outside. it is disgusting. it's been cancelled. everything is cancelled. we had a package holiday. the hotel, everything has been cancelled. people in there with children, young children... they've got nowhere to go. no, it's so bad. it's really bad. some early flights departed, but many without bags. as cancellation spread, the airport asked people not to travel here. by yesterday lunchtime the impact was so great all flights from terminals one and two were cancelled. the way that the fault happened damaged some equipment and as a result
5:37 am
we had to fix that equipment because ultimately my number one priority has to be the safety and security of our passengers. i am so sorry that they were disrupted, but fundamentally i have to make sure that first and foremost they are safe and secure and so we had to get those systems back up and running, we had to replace the components that needed replacing, we had to test them thoroughly before we got back working again. this morning the airport says flights should be operating normally, taking holiday—makers where they want to go and bringing passengers back, but the advice, as ever, is to make sure you check the airport website and your tour operator's information before setting out here. the peak summer travel period is barely underway, but yesterday's incident raises big questions on the resilience of the sector and how the season takes off. simon browning, bbc news, at manchester airport. now onto trade tensions between china and the eu, which show some signs of thawing. the two sides are set to hold talks on the european union's
5:38 am
plan to put major tariffs on chinese electric vehicle imports. this comes after a high level visit to beijing from germany's vice chancellor over the weekend and a call with the eu's trade commissioner. let's go to our asia business hub for the latest — suranjana tewari is there. tell us more. there is a real ush tell us more. there is a real push and — tell us more. there is a real push and pull _ tell us more. there is a real push and pull dynamic - tell us more. there is a real push and pull dynamic going tell us more. there is a real. push and pull dynamic going on between china and the eu. the two sides, as you say, have now agreed to start talks over those tariffs on chinese made electric vehicles being imported into the european union. the block is planning to impose duties on ev is produced in china, raising funds 78% of 38%, on top of the standard 10%. the eu says because china subsidised its ev industry so much, it creates a flood of affordable vehicles in europe
5:39 am
and prices out car—makers there. the fact that the two sides have agreed to have these talks seems to be a bit of a breakthrough and this came about because the chinese trade commissioner had a call with his european trade counterpart on saturday, talks the european commission called candid and substantive. they said they will continue talks at all levels in the coming weeks. at the same time german ministers are in china for talks, including vice chancellor there. he keeps emphasising that these talks are not meant —— make these tariffs are not meant to punish china, rather compensate for unfair advantages china is practising by subsidising its ev industry. of course, germany is the of course, germany is the largest auto—maker in china and its imports to china have nearly halved in the last year, which berlin blames on the overcapacity of chinese cars. the problem for china is the overseas market is where ev makers get higher profit
5:40 am
margins. those profits are being squeezed with these tariffs. the german vice chancellor says there is room for negotiation. that could be a promise of chinese investment into europe, for example, to try and offset those subsidies. 0k, thank you very much. for outlining what is at stake there, suranjana tewari. for more i'm joined by gervais williams — head of equities at premier miton. good morning. so both sides here are accusing the other of protectionism?— protectionism? that's absolutely _ protectionism? that's absolutely right. - protectionism? that's absolutely right. it. protectionism? that's absolutely right. it is| protectionism? that's| absolutely right. it is a general trend, as you know currently with the chinese and us protectionism. we're also seeing less of protectionism, but there are some protectionism discussions going on between china and the eu at moment and the election discusses part of that. clearly there is much to lose out on from protectionism, with both sides losing sales and profits, so for both sides it is
5:41 am
actually much better to try to negotiate a solution. the actually much better to try to negotiate a solution.- negotiate a solution. the eu has threatened _ negotiate a solution. the eu has threatened china - negotiate a solution. the eu has threatened china with i has threatened china with tariffs of up to 38% on electric vehicles. for the us, the terrace has gone up to 100%. so for europe, it is not as dramatic. but for china, isn't the european market more strategic for it right now? yes, i mean, clearly with the tensions between the us and china and the potential of change of president coming up, there is room for actually be protectionism to get much worse in that area, so the chinese are very much looking to ensure they continue to get the best possible interaction with the eu and so, effectively, they are quite careful and quite keen to come to negotiate a settlement and that is why it is a good first step. it means people can discuss it with each other. it means if there is a fallout over ev is, it means unfortunately china will have to come back with some kind of
5:42 am
protectionism of their own. they have talked about restrictions in terms of eu pork imports and potentially german cars, a lot of high—value german cars being sold in china as well. find high-value german cars being sold in china as well.- sold in china as well. and it was germany's _ sold in china as well. and it was germany's vice - sold in china as well. and it i was germany's vice chancellor robert habeck who went to beijing over the weekend to broker this negotiation, as it were. and for germany, their economies in a tight spot at the moment. the moment. the car industry is critical for them, isn't it? . �* , industry is critical for them, isn't it? ., �*, ., , , isn't it? that's absolutely ri . ht. isn't it? that's absolutely right. what _ isn't it? that's absolutely right. what we _ isn't it? that's absolutely right. what we have - isn't it? that's absolutely right. what we have seen isn't it? that's absolutely i right. what we have seen its interest rates have been elevated across the world for much of the last year, so effectively we will see demand coming down. he chinese economy itself is quite weak at the moment, so both sides of the ring and particularly we are actually in the middle of an election period as well, particularly in france with the legislative elections which have seen the recent european elections as well, as there are quite a lot of crosscurrents that good derail these talks. 0k, thank you very much for
5:43 am
your time, 0k, thank you very much for yourtime, gervais 0k, thank you very much for your time, gervais williams, we will see you soon. around the world and across the uk, this is bbc news.
5:44 am
you are with business today, i am sally bundock. to india now, where the new parliament is holding its first session today since the re—election of prime minister narendra modi. he was voted back into office with a significantly reduced majority that will see him having to work with coalition parties for his third term in the top job. india's economy is booming, the world's fastest growing economy clocking in nearly 8.5% growth at the end of the last financial year. but inflation, unemployment and vast inequality continue to be grave problems going forward. it does not mean that things are all rosy. joining me now is neelanjan sircar — senior fellow at the think tank the centre for policy research.
5:45 am
a warm welcome to the programme. now, narendra modi is breaking the record is because he has got a third term in office as prime minister. however, as we have mentioned, he does not have a majority. he will have to work with coalition partners. he is not used to that, izzy?- used to that, izzy? no. you know, used to that, izzy? no. you know. in — used to that, izzy? no. you know, in the _ used to that, izzy? no. you know, in the last _ used to that, izzy? no. you know, in the last two - used to that, izzy? no. you l know, in the last two national elections, prime minister narendra modi actually did have a single party majority. in 2014 he got 282 out of 543 seats, his party, the bjp. that went up to 300 35 years ago and now it this time it has come down to 243 seats, 242 the majority mark. two key parties have commanded him majority. narendra modi's party's has often involved a matter of
5:46 am
economic centralisation where a lot of decisions are made by prime minister narendra modi and his office, so it remains to be seen where he has lost a significant majority will have to bargain with coalition partners exactly what to to mean for policy going forward. since the results of the election, the world's biggest general election this year, there are quite a few big ones happening, what have people been saying about what this government is going to be like, given the lack of majority narendra modi has and his lack of experience when it comes to negotiation from that point of viewso one way to think about it is that things won't change. 0ne it is that things won't change. one thing we know about prime minister modi is that so much of his personal popularity and even now he is an extraordinarily popular leader, so much that is based on this kind of politicisation and centralisation of decision—making. so to be negotiating with coalition partners is to be showing a
5:47 am
certain kind of weakness, which is antithetical to the narendra modi phenomenon in india. so, despite all appearances, what we have seen with the initial cabinet appointments, with the initial decisions by the government is that there is an attempt to make it look like business as usual, even though the party has lost the single party majority. but the party has lost the single party majority-— party ma'ority. but when it comes party majority. but when it comes to _ party majority. but when it comes to the _ party majority. but when it comes to the economy, . party majority. but when it comes to the economy, it | party majority. but when it - comes to the economy, it won't be business as usual and the rear reaction on the market was big infrastructure stocks, banks, etc, dived in value and the thought that he cannot plough ahead with his promises. that's right. you know, there is a concern. what we do know in india is that even during a period of coalition government, actually indian was able to make difficult market reforms in the 1990s, so it is not necessarily a problem, but there is a question about whether narendra modi will be
5:48 am
diverted from his economic reforms. as of right now, it doesn't seem to be the case. i think that most of the parties actually hold fairly similar views on the kinds of market reforms that are necessary and on the increasing digitisation that we have seen in india and cash transfers. but it remains to be seen on some of the sticky issues, where the parties might come head to head, whether that causes some problems. the other thing of courses in coalition government you have goodies shared between coalition partners and that is always a fear. mil coalition partners and that is always a fear.— always a fear. all right. it really interesting - always a fear. all right. it really interesting to - always a fear. all right. it really interesting to get l always a fear. all right. it i really interesting to get your take on what is happening, neelanjan sircar, and we will watch very closely, thank you. staying in india and more on our top story — india has been in the midst of a long heatwave that has seen more than 60 people reportedly dying of heatstroke. india's large informal workforce are particularly vulnerable. 0ne organisation in the western state of gujarat is now offering some women labourers a "heatwave insurance" to cover for missed work due to extreme temperatures.
5:49 am
archana shukla reports from the city of ahmedabad. it is sweltering in india. despite the blazing sun, this person is out... ..sifting through the city's waste, every scrap vital. a heatstroke stole six days of work, leaving her weak. income halved to just $30. thankfully, she has an insurance for hot days. translation: i got $14 as insurance payment. | i used it to buy food and medicine for my skin rash. scorching heat is putting millions of poor indians at risk. their choice? work in unsafe conditions or go hungry. women are among the worst affected, especially
5:50 am
those on meagre incomes like $60—$70 per month. and for them this heat insurance can actually come as a breather. when this person reaches a threshold in ahmedabad it is 44 celsius. those insured get an automatic payment of $4 per day. it is critical, even for those working indoors. this woman cannot use the fan while making kites. and the stifling heat is taking a toll on her family's livelihood. translation: i get 2 cents per kite, but because of the heat i l could make just half the number of kites. the insurance money has helped. 46,000 women got paid through this novel insurance programme. but with worsening heatwaves, these meagre payouts may not be enough. the organisers say a policy push is needed. translation: can heatwave insurance be included in the l
5:51 am
social security act? could the unspent welfare funds for construction workers and solar panel workers be redirected to climate support? we need to ask these questions and both government and private sectors need to partner up. we could be the first country to offer climate cover for informal workers. for these women it is a matter of survival. as extreme weather disrupts livelihoods, india's informal workforce — crucial for its economy — need a safety net more than ever before. archana shukla, bbc news, ahmedabad. to the workplace now, where staff wellbeing is a key issue — but what about the bosses�* wellbeing ? a reportjust out has found that a quarter of leaders feel burnt out — often or always.
5:52 am
which — against a backdrop of stories like the announcement from samsung of a six—day working week for executives in a bid to "inject a sense of crisis" — is a cause for concern. top leadership coach andy brown argues this constant push could be running up hidden costs to businesses, not seen in its profit and loss. he'sjoining me now. welcome to bbc news. first, what we talking about here when we say bosses are experiencing burnout, what does that look like? i burnout, what does that look like? ~' burnout, what does that look like? ~ , , , like? i think it is pretty clear. this _ like? i think it is pretty clear. this is _ like? i think it is pretty clear. this is an - like? i think it is pretty i clear. this is an experience like? i think it is pretty - clear. this is an experience we all have. but i refer to this as an emotional overdraft. emotional overdraft is when you subsidise the success of your business at your own personal physical or mental cost. so you can understand that might be stress, it might be overwhelmed, it might be anxiety, and that is when those things start to happen and when
5:53 am
you are running up an emotional overdraft it is primarily because you are running down your resilience, so you become less resilient. and an overdraft is no bad thing, but if you are constantly in the overdraft then your resilience declines and you become less capable to make a decision, less capable to lead, you are less capable to lead, you are less able to bounce back as you would normally expect to be. also, is it true to say that people in that sort of position, meaning leadership, the boss, the ceo, are less likely to stop when the signs are there that burnout is about to happen?— are there that burnout is about to happen? absolutely, there is a pervasive _ to happen? absolutely, there is a pervasive myth _ to happen? absolutely, there is a pervasive myth that _ a pervasive myth that leadership should be difficult all the running of business should be stressful. the research i have done shows constant feedback saying this is just the way it is, i am the boss, i am expected to feel this way. and often that is visible, but i had an e—mail the other day from a founder
5:54 am
who told me that she goes to work and then she cries in the toilet every day. i have interviewed other people who... but also andy, isn't it true that we're almost at a time that, if you are the ceo it is hard to take that break required because there often isn't the person to fill your shoes? that is part of the reason why some of these bosses are experiencing burnout in the first place?— first place? absolutely. delegation _ first place? absolutely. delegation is _ first place? absolutely. delegation is critical. . first place? absolutely. i delegation is critical. people understanding what their roles are in the number of bosses that don't have role descriptions is phenomenal, really, when you think about it. so real clarity around that, but i would definitely say understand what emotional overdraft is, understand where it is occurring for you and that will give you the opportunity to at least take a pause and then maybe do something it.— pause and then maybe do somethin: it. �* , , something it. also it depends on what the _ something it. also it depends on what the culture _ something it. also it depends on what the culture is - something it. also it depends on what the culture is in i something it. also it depends on what the culture is in the l on what the culture is in the organisation. we mentioned samson will stop some organisations are not open to the idea that you are taking time out because of burnout. i
5:55 am
am not sure that is true any more. i think if you have burnout, then most organisations now reflect that, but it is before you get to the stage of burnout where the critical issues are.- stage of burnout where the critical issues are. yes, it is aood critical issues are. yes, it is good to _ critical issues are. yes, it is good to get _ critical issues are. yes, it is good to get your _ critical issues are. yes, it is good to get your take i critical issues are. yes, it is good to get your take on i critical issues are. yes, it is i good to get your take on that. that is really interesting. andy brown there on what pressures and challenges faced leaders in the workplace. i am sure you have stories to tell on that. i am sally bundock, have a good day, i will see you soon. i am on x. hello, we are into hello. we are into our first significant spell of summer heat at the moment, but how long will it last? well, certainly the heat will be widespread to start the week, quite humid by day and by night as well. 0k, not completely dry, but as we go through the second half of the week we will notice all of this gradually turning fresher, temperatures closer to where we would
5:56 am
normally expect at this stage injune and a bit more of a mix in conditions out there as well. back to the here and now, well, for monday morning it is already quite humid across some southern and eastern areas, a bit fresher across the north and west, and we see the best of the morning sunshine. more cloud into north and west of scotland through the day, some low cloud around the coast and this is the remnants of our old weather front. it caused a lot of cloud during the afternoon yesterday — for parts of wales and the south—west especially. it is more across the midlands and drifting into parts of south—east yorkshire later. it is not going to have a massive impact on temperatures, widely in the mid 20s for many — scotland 26, northern ireland 24, 25, experiencing their hottest day of the week. as we go into monday night, we'll see thicker cloud bring a bit more in the way of patchy light rain and drizzle to scotland and the west of northern ireland, some low cloud drifting northwards into northern england, but notice where that cloud is in place temperatures not dropping much lower than 15—17 . as we go into tuesday we have that weather front which brings a rainy end to the day in scotland. it pushes a bit further southwards, combines with the old weather front sitting here across northern england, produces a bit more
5:57 am
cloud for scotland, northern ireland and northern england on tuesday. the chance of a few showers breaking out later in the day. scotland and northern ireland still warmer where the sunshine gets through, but nowhere near as warm as monday. the heat continues to build for the south and east, up to around 28 celsius in the london area by this stage. as we go through tuesday night into wednesday that first weather front starts to push away, but still remnants of it across the northern half of the country producing one or two showers, more especially across scotland. but away from that some sunny spells across england and wales and the heat could build even further, could get to 28—29 c by the time we hit the middle part of the week. some showers and heavy downpours in northern ireland later and that is ahead of this area of low pressure between us and iceland, which will drive a cold front eastwards, sweeping away any humid air gradually as we go through thursday and friday and introducing fresher conditions, temperatures closer to normal as we head towards the weekend. and a few more showers around as well. take care.
5:58 am
5:59 am
good morning, welcome to breakfast withjon kay and sarah campbell. 0ur headlines today. scotla nd scotland are out! heartbreak for scotland in stuttgart
6:00 am
as hungary score in the 100th minute to knock them out of euro 2024. devastated, gutted, everything rolled into one. we came over with hope. it was that close. yes, sickening for scotland. they have had a night to sleep on it but forfans waking up have had a night to sleep on it but for fans waking up at this campsite, they will reflect on a penalty that was knocked given that would have changed the outcome of last night's game. manchester airport starts to return to normal, after a power cut caused disruption for tens of thousands of passengers. a world first epilepsy trial — a 12—year—old boy has been fitted with a device in his skull to control his seizures. the cost of a wedding can easily soar to the sky. couples increasingly choose to marry mid week. i have come to find out more
6:01 am
at this special

37 Views

info Stream Only

Uploaded by TV Archive on