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tv   Business Today  BBC News  June 27, 2024 2:30am-2:46am BST

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more the mechanic's name is richard cuevas, and he's the latest whistle—blower to come forward with allegations about substandard safety issues on boeing jets. mr cuevas was contracted by spirit aerosystems boeing supplier to work on the 787 dreamliner beginning in march 2023. he says he observed substandard manufacturing and maintenance practices, flaggged the problems, and lost his job. at issue is the airplane's forward pressure bulkhead. that's located on the plane's nose, and it's important for maintaining cabin pressure. he says that spirit aerosystems made changes to manufacturing and assembly specifications without boeing's permission — according to a statement from his lawyers. boeing's quality control and safety record have been in the spotlight since a door plug blew out of a 737 max nine jet mid—flight in january. and since 2018 and 2019, when two boeing planes crashed, killing 346 people. boeing said in a statement that the allegations were thoroughly investigated and that an analysis determined that there
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were no safety concerns. the firm said it's reviewing the newly released documents and will thoroughly investigate any new claim. turning to the chip industry, shares micron have fallen by around 7% in extended trading in new york. the firm beat estimates for the fiscal third quarter, powered by the artificial intelligence boom. however it forecasted revenue that was weaker than what some analysts expected. a lot of attention in the industry has been on chip giant nvidia. its shares have also struggled recently, although it briefly overtook microsoft last week as the most valuable company in the world. technology industry analyst bob o'donnell explained the market reaction.
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these days, in the world of ai, matching is a good enough, it has to beat all the time, so you are started to get unrealistic expectation. that is what is triggering some of the moves in nvidia people have gotten a bit initially, on one hand, they want to take advantage of it and cash in on it, that is happened, and the other hand, paranoia, how long can this great thing last, and other people are like we have what we have, let's dive in and to what we can get. the fundamental story has not changed. micron has grown its business is nicely, they are one of the suppliers in what is hbm3, high—bandwidth memory, a critical part of nvidia cards that go into the servers that power these ai services. as micron said, we're sold out through 2024 and 2025, and yet you get this kind of reaction. to me, it's more of a psychological thing than an actual factual change, and sometimes the market when it moves, as quickly as it has
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will trigger those reactions. let's turn our attention to the giant of that ship—making industry nvidia, there had a recent meeting, has anything coming out of that that would really any concerns? they are, the c0 answered a few questions — there's a question about quantum computing — and they're not doing quantum computing, some of their software as will be used for were reported by blackwell their next generation gp, the most popular product of all in all computer history. he is prone to a few of those grandiose statements, so nothing really new came out of it. i think it was things the company said in the pastjust that they are very competent, and we continue to see that businesses all over the world in every industry are interested in generative ai.
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0ptimism around the technology has given amazon a record market valuation of over $2 trillion. that put the e—commerce giant in the same club as tech heavyweights nvidia, microsoft, apple and amazon. investors bought into technology shares on wall street on wednesday, pushing amazon to close 4% higher. us presidentjoe biden and donald trump are set to square off in the first debate of this year's presidential election. the state of georgia could be key to the outcome of the vote in november. president biden will be touting his economic programme, a big part of which has been using government investment to create new manufacturing jobs. but as the bbc�*s michelle fleury found, creating jobs isn't necessarily winning votes. welcome tojoe biden�*s economy, a korean company spending billions of its own and the us government's dollars to build a new factory for a new industry — a key part of the president's pitch to voters. watch this cell type.
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you're going to get about 20 or 30. he's been 20... solar panel maker qcells is spending $2.5 billion to triple the size of its current capacity, employing 4,000 people by year's end in a district being left behind. thanks to the biden administration's inflation reduction act, or ira as it's known, wafers mainly made in china will soon be made in america. we're currently the only facility that's going to be making cells and wafers, and that's what qcells building in cartersville, but that's the only such facility like it that's under construction in the united states. so, the ira has been really successful at generating new investment, but our industry needs a lot more investment. so, you think without it, it would have taken longer to get to this point? or it might not have happened at all. president biden boasts his approach has created nearly 800,000 manufacturing jobs, something these qcell workers are grateful for. the company has given me a great opportunity to start
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from a very entry—level to move to a engineering spot, which for me, you know, it's something that i'm thankful for. we're also one of the largest facilities in i the western hemisphere, and wars— something that can be proud of. it's like, "oh, we have this here where mostl people don't anywhere else in the united states". - but while qcells jobs may be green, this district is deep red. dalton is in donald trump country, home to marjorie taylor greene, in one of the most bitterly contested states in this year's election. democrats hope that by creating clean energyjobs here, they may create more biden voters come november. here's what they used to make in dalton — carpet. it once claimed to be the world's carpet capital. one of the small carpet firms in town belongs to yan, a democrat. nobody cares about clean energy, not around here. that is the type of stuff that i would call them the latte liberals care about in the big city.
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——jan. he doesn't think the inflation reduction act will do much forjoe biden�*s re—election chances — not in dalton. in the business community, there is a resentment against that company because they got breaks from the government leaving the local guys wondering whether the government yet again is picking winners and losers. pancake, banana pancake. at the 0akwood cafe in dalton, the food is hearty, the conversation flows, but you won't hear much talk of greenjobs. who had the omelet? 0wner casey carpenter, who was the local republican representative, explains why his party doesn't like the democrats' economic strategy. the problem with the republican turn off has always been it's kind of shoved down their throat with subsidies instead of letting it naturally evolve. for years, republicans have been against solar panels, but i think there's a place for it. i think diversification and energy independence, those things are republican words. the biden administration is pouring billions into red
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districts in the hopes of ensuring a green and prosperous future is made in america. the presidential debate is an opportunity for him to claim credit. so far, it's not clear he will reap the benefit come november. michelle fleury, bbc news, dalton, georgia. a new report, commissioned by brazil, is proposing to levy an annual, global tax of at least 2% on the wealth of each of the world's 3,000 billionaires. it's part of increasing calls worldwide to tax the mega wealthy. the billionaires who are criticised for not paying their fair share of taxes. according to the report, this billionaire tax plan could give governments up to $250 billion a year in extra revenue. the report's author gabriel zucman told me how it could be put into practice. that's why it's important to have international coordination on this issue. first of all, the wealth of billing errors not so hard to capture, half of it is in shares of publicly listed companies for which you have readily available market values, the other half
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is mostly shares in big private companies, which you can value by looking at of the stock market values similar companies. —— of the wealth of billionaires. the second big issue is indeed, what to do if some countries refuse to apply such minimum tax on billionaires? and here, you can build on what is been done from internationalfirms. what is important is to have a kind of tax collector of last resort make is and isn't, whereby the country that wouldn't apply this income tax would be allowed to text the under text billionaires of nonparticipating countries. that's how it works on internationals, i know we can do that with other billionaires. the japanese yen has fallen to its lowest level
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here's a statistic. between 1987-2024, the here's a statistic. between 1987—2024, the average wealth of billionaire households increased by about 7% of average. both according to report. many thanks forjoining us here on business today. bye for now.
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hello there, i'm 0lly foster. here's what's coming up for you. dreamland to the debutantes. georgia through to the last 16 at the european championship. boos for belgium, although they still qualify at ukraine's expense. anthonyjoshua gets another shot of the world title, fighting for the ibf belt in september. welcome along. the european championship is now down to the last 16. we've had the final games in the group stage, and georgia have made history. their 2—0 win overformer champions portugal coupled with czech republic's 2—1 defeat to turkey sees them qualify for the knockout stage in third place in group f
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in what is their first major tournament. group e was the tightest, all four nations finishing level on points, but it's romania and belgium who progress, as well as slovakia, who will play england on sunday. joe lynskey reports. it's their first major tournament, they're ranked 74th in the world, but georgia in each match take the same approach. in portugal, they faced a team of superstars, but this growing football nation has one of its own. kvaratskhelia for georgia! his fans at club and country call him kvaradona. for khvicha kvaratskhelia, this was a childhood dream. his ambition was to play against cristiano ronaldo. now, his team were keeping the 39—year—old restricted. and as belief ran through georgia, they got a chance from the spot. a win that takes them through, one of the euros' great upsets. in hamburg, turkey
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made sure theyjoined them in the knockouts. finish it superbly. finishes it superbly. they beat the czech republic in a match that spilt over. turkey take their momentum to face austria next. in group e, there was deadlock. all four teams would start the last match on three points. slovakia were first to make a break for the summit, but romania drew level — and for these teams, that suited. a 1—1 draw put both nations through and means slovakia will face england next. that result left ukraine as the team who had to win. they came this close against belgium, but with a 0—0 draw, this group was poised like none before. all four teams had finished on four points. the nation going home could be seen by the faces.
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ukraine out on goal difference —

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