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tv   Business Today  BBC News  June 25, 2024 12:30am-12:46am BST

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they are at odds over alleged copyright infringement — and the case has the potential to set precedence for the years to come. the bbc�*s erin delmore has the details. the startups are called suno and odeo, and the group of labels, including sony music universal music group and warner records say they've been violating copyrights on an almost unimaginable scale. here's how the labels say it works. the ai startups ask users to enter a word prompt for a song like a storyline or a genre or lyrics or types of instruments to be used. and then the startups use their software, which the labels say were trained on existing music without consent or compensation to churn out the requested song. and the labels say the music is alarmingly similar, calling it wholesale theft that threatens to upend the entire music ecosystem. suno and udio did not immediately respond to requests for comment. it's far from the first
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time an association of creative professionals. this time, it's the recording industry association of america accused ai companies of stealing their material and have sought to stop them in court. back in april, some 200 artists, including billie eilish and nicki minaj, signed a letter calling the use of ai in the music industry predatory and saying it should be stopped. staying with artificial intelligence, shares of nvidia fell by around 7% on wall street on monday. the chip firm has lost more than $500 billion in market value since briefly overtaking microsoft as the world's most valuable company last week. nvidia has benefitted from the boom in demand for chips that train and run generative ai models, such as openai's chatgpt. european union regulators have accused apple of breaking rules designed to rein in big tech companies. the european commission, which regulates competition in the eu, said apple's app store squeezes out rival marketplaces.
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this marks the first time the commission has found a company in breach of the digital markets act. apple faces a potential fine of up to 10% of its global revenue. the firm said it is "confident our plan complies with the law". the world economic forum's "summer davos" conference kicks off in dalian, china on tuesday, bringing together some of the world's top business leaders and politicians. this year's theme — �*next frontiers for growth�* will address several issues, from china expanding its global tech footprint to the evolution of artificial intelligence. dhonghyun park is a principal economist at the asian development bank. he gave us a sense of the highlights. china's hosting of this event is highly significant for at least three reasons. first, it shows that china is coming out of its restrictions is fully open to the work again. second,
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it shows china's continuing commitment to be a global leader. diverse summer is a forum where global leaders gather to discuss and shape the global agenda, gather to discuss and shape the globalagenda, but gather to discuss and shape the global agenda, but of all, davos shows that china is open to business especially foreign business and investment. to some extent, this is the counter a growing perception that the chinese market is becoming more closed. what do ou see becoming more closed. what do you see being — becoming more closed. what do you see being the _ becoming more closed. what do you see being the focus - becoming more closed. what do you see being the focus of- becoming more closed. what do you see being the focus of the i you see being the focus of the meeting? you see being the focus of the meetin: ? , ., meeting? the focus of the summit will _ meeting? the focus of the summit will be _ meeting? the focus of the summit will be artificial. summit will be artificial intelligence especially generative articulation of intelligence. the theme highlights the fact that china is not a lower but global leader in artificial intelligence, so quite naturally, discussions will center around how to maximize the potential activity gains from al, while mitigating its disruptive effects, especially on the labor market. in
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addition, i think china would want to discuss breakthroughs in new materials to meet its energy needs. chinese fast fashion giant shein has confidentially filed for a listing in the uk, according to media reports. the move to sell its shares on the london stock exchange could value the company at more than $60 billion. shein did not immediately respond to a bbc request for comment. the company faced hurdles and intense scrutiny over plans to list in the us. the countries finance minister says its domestic auto centers based on fair competition from china's, quote state directed capacity. it will open a 30—day public consultation. 0n the 2nd ofjuly on the matter. turning to the business of sport, let's zoom
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in on cricket world cup, the t20 format. the month—long tournament is co—hosted this year, between the west indies and the united states. the last t20 world cup was held in australia in 2022, with viewing figures at more than six billion. across broadcast and digital platforms. it is the first time that the united states is involved in hosting a sport where an estimated 90% of cricket fans are from the indian subcontinent. sporting and competition economist patrick massey told us why this is significant. the united states, in modern times, are less involved or interested in cricket, but in the mid—19th century, cricket was the most public support in the united states by all accounts, but things have clearly changed since then, one of the reason, or the main reason for having the competition take place or have the us co—hosted is an attempt by the international cricket conference to get into the us market and establish cricket as a serious sport in the united states. , ., , , states. do you see there being a cricket in _ states. do you see there being a cricket in the _ states. do you see there being
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a cricket in the sporting - states. do you see there being a cricket in the sporting world | a cricket in the sporting world of the united states, even football has sort of struggle to take hold? it football has sort of struggle to take hold?— to take hold? it will be very difficult. — to take hold? it will be very difficult, steve, _ to take hold? it will be very difficult, steve, as- to take hold? it will be very difficult, steve, as you - to take hold? it will be very difficult, steve, as you say, football, which is the most popular sport in the world, has struggled to get a football —— foothold, in the united states, it does become established to a degree at this point in time, though it is taken quite some time, and it is has involved quite a number of false starts, so it will not be easy for cricket to become established there, and i think it would take more thanjust there, and i think it would take more than just one t20 world cup to do that. i think it has to require a lots of effort and work on the part of the icc over a lengthy period of time if they want to establish a sport there. spain has become one of europe's prime generators of renewable energy, with a sharp increase in the installation of solar and wind generators over the last few years. however, despite this successful move towards green energy sources, electricity consumption has been dropping, triggering concern that this
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could lead to a crisis within the industry. guy hedgecoe reports from spain. 0n the sun soaked plains of central spain. solar farms are a common sight. a boom in renewable energy over the last half decade has made the country one of europe's top generators of green electricity. renewable sources represented half of the country's total electricity generation last year. spain aims to ensure they cover more than 80% of its electricity needs by 2030. this boom started practically in parallel with the change of government. the socialist party from the first moment, give this confidence to the market. at the same time, they introduce ambitious targets for 2030. the spanish economy is growing faster than those of europe's other main players.
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that should mean an increase in electricity demand. and yet, consumption of electricity in spain last year was at its lowest since 2003. this is partly because of energy efficiency measures as well as an eu drive to cut energy use in the wake of the russian invasion of ukraine. also, the expansion of renewable generation in homes and businesses has further cut dependence on the national grid. it can be worrisome for generators, especially when these decrease in demand, along with a high increase in renewables, means that power prices decrease quite a bit, which is something that, of course, they need to take into account in their project. the concern is that these low energy prices, while good for consumers, could deter investment. one way of preventing this imbalance is to move further away from traditional fuels.
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despite spain's relative success in making the green transition, much of the economy still depends on fossil fuels becoming more reliant on electricity. the so called electrification of the economy is seen as a way of securing cleaner energy, but also of increasing the demand for the generation of electricity. the government target is for a third of the spanish economy to be electrified in the next five years. of course, there are solutions for these. one is more electrification, but on the other side, we need to engage more people and more industries in demand side management to make sure that the flexibility needed in the system is out there. so to make generation and demand matching better.
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during the day. during the night. as spain pushes on with its transition to a green economy. one of its biggest challenges is to ensure that demand for electricity keeps up with what is a plentiful supply. guy hedgecoe, bbc news, spain. that's it for this edition of business today, bye for now.
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hello, and welcome to sportsday with me tulsten tollet italy leave it late to score as they not only qualify for the last 16 but leave croatia on the brink at the same time at the t20 world cup, rohit sharma leads from the front as india beat australia and set up a semi final against england and he's arrived early when many doubted he'd be able to make it at all.
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novak djokovic tells us how he's hoping to be fit for wimbledon ifi if i know that i can play close to my maximum or at maximum, then i would play. thanks forjoining us. where we'll start at euro 2024 and there was late drama in group b as the race to reach the last 16 came to a crescendo. spain had already qualified and made it three wins out of three with victory over albania, but it was italy and croatia which delivered late drama asjoe lynskey reports. full time in leipzig. two teams on the floor.
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for italy, ectasy. for croatia, devastation. for so long in this match, they found the front foot through a handball that brought them a penalty. and though luka modric saw it saved, italy's defence got lost in the moment. seconds on from the miss, the ball back in front of goal modric undeterred in a match they had to win modric this time. this time. 38 years old, he is the euro's oldest scorer. the football icon of this nation had kept their tournament alive. italy are the holders. their attack, though, here was frantic. balls into the box found no sense of composure until the 98th minute. at that point, croatia were second in the group, but for italy, a draw would be enough to send them through.
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it's an opportunity, brilliant goal martinez., two nations fates are changed in a moment.

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