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tv   Business Today  BBC News  July 9, 2024 1:30am-1:46am BST

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hello and welcome to business today. i'm steve lai. we begin with boeing. the main us aviation regulator has ordered the inspection of thousands of boeing 737 max planes, over concerns related to the oxygen masks aboard the jets. our north america business correspondent erin delmore has more on this latest probe. the federal aviation administration is acquiring operators to check the oxygen masks are as of 2600 aeroplanes. the job is to make sure the mask seven shift at a position which could potentially leave the out of passengers reach in an emergency. any necessary corrective actions needs to be completed at the march between 120 days. this is the latest sign of trouble for the now embattled aviation giant. earlier monday,
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boeing agreed to plead guilty to a criminal conspiracy charge and paid millions of dollars in fines. two 737 max crassus killed it 346 people. the issues of safety culture and quality control was brought back into the spotlight injanuary when the door plug flew off a jet mid—flight and interviewing months, boeing received criticism and regulators, lawmakers, airlines and the travelling public. united airlines flight that departed from los angeles lost a landing wheel after takeoff. the plan which was also a boeing 757 was headed forjapan and had to land in denver because of the lost wheel. united airlines spokesperson indicated there's been no injuries, but the federal aviation authority and united airlines are investigating the incident. staying with the us.
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presidentjoe biden is fighting back against the perception that's he's too old to beat donald trump. he's published a letter saying he has no intention of giving up the presidency or the campaign for a second term. this comes amid amped up pressure from business leaders and donors, calling for biden to step down. the bbc�*s michelle fleury sat down with the ceo of the leadership now project, a coalition of executives, who explained how high the political stakes are. we have respectfully asked president biden to pass the torch to a new generation of leaders. we believe that there are multiple leaders in the democratic party would be well—equipped to be our president and effectively make the case about the risks that donald trump in the current republican party presents. why did you feel it was so important to speak on what's at stake? we believe the number one risk is that former president trump wins in november and that was our
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driving concern in speaking out and secondarily we know it's really hard to step out against the president and it was going to take courage from political leaders, his advisers and others to encourage them to step down and we want to show that courage with our networks have been more freedom to publicly come out and express their view. at the time when we are talking joe biden is resolutely saying he is not going anywhere and remains the party's candidate. i understand that and it's a difficult and sad situation for our country right now. we believe that unfortunately both as a result of the debate and what has been observed about joe biden�*s abilities to govern for the next four years we continue to believe that an alternative candidate would be alternative candidate would be a better choice and have a better chance of winning in november. is better chance of winning in november-— better chance of winning in november. is the entirety of our november. is the entirety of your membership _
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november. is the entirety of your membership on - november. is the entirety of your membership on board | november. is the entirety of. your membership on board with this? ~ ., _, , your membership on board with this? ~ ., , ., , this? we did a couple of things when this was _ this? we did a couple of things when this was happening, - this? we did a couple of things when this was happening, we | this? we did a couple of things l when this was happening, we did an emergency crisis meeting of our board, we called a full membership meeting and we polled our members over 80% agreed that we should pursue supporting a new nominee. it's not universal, are some concerned about this path but we believed we had overwhelming support. indian prime minister narendra modi is in moscow to meet with russian president vladimir putin. the prime minister �*s two—day visit comes on the invitation of butter back to revive an annual summit between the two countries. the last was held in december 2021. the former us assistant secretary of commerce and trade develop gave us his thoughts on what to expect from this visit including what russia stands to gain. you would hope that narendra modi was going to moscow to promote peace and prosperity worldwide according to
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democratic principles that india holds. 0f democratic principles that india holds. of course this is not what is going on, modi is trying to perform a very elegant balancing act will stop you may recall that is closed trip after being re—elected this year was to the g7. now he has to, it seems, go to russia and tell what a great friend he is of russia and get as much strategic advantage and economic benefit out of that relation as he can.— relation as he can. what will russia be — relation as he can. what will russia be expecting - relation as he can. what will russia be expecting out - relation as he can. what will russia be expecting out of. relation as he can. what will. russia be expecting out of this meeting? russia be expecting out of this meetin: ? , , . russia be expecting out of this meetin: ? ,, ., ., , russia be expecting out of this meetin? ,, ., ., , ., , ., meeting? russia really wants to show that the _ meeting? russia really wants to show that the isolation - meeting? russia really wants to show that the isolation of - show that the isolation of russia, because of the invasion of ukraine, has not worked. they are going to want to have a commitment to india keeping buying more oil, fuelling their economy and their defence
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production. their perspective, it is able to sell even more to india, the exports to india have gone up about 50% since the war in ukraine. i think that will be what he wants to hold modi up as a cause i supporter of what russia is doing. that doesn't work exactly, but modi is not going to be in a position, really, to try and contradict russia since it is so dependent is time for arms as we discussed. also oil and fertiliser. in other news — china's largest electric vehicle producer, byd, has announced that it will build a new factory in turkey. byd will invest $1 billion into this facility, which is due to be completed
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at the end of 2026. the factory will be byd�*s second ev manufacturing hub within the european region, the first being in hungary. as the company wrestles with tariffs imposed by the european union, these new manufacturing facilities present an opportunity for the company to bypass the levies. turning to france, which is seeing more political uncertainty after parlimentary elections left the country facing the prospect of a hung parliament. a left—wing alliance won sunday's vote — blocking the pathway to power for the far—right national rally — but negotiations will now have to take place to try and form a minority or coalition goverment. armin steinbach, professor of law and economics at hec paris, explained the implications of this result on the french economy. that's going to be very difficult for the left bloc to come up with a minority government as you know, it is quite heterogenus and in order to build a firewall against the national on the right side is very
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diverse group of anti—capitalists and socialists and communists and a very diverse programme and the question is whether they remain united and propose a candidate for prime minster and talking about emmanuel macron and for him to appoint this. and this will be a minority government faced in the confidence of this motion of no confidence in having to resign just a week after being in power and i rather like the scenario. what are the implications of the stalemate since god one of the agencies saying that the uncertainty is bad we saw an announcement of snp, one of the rating agencies say the uncertainty is bad for the fiscal outlook and france has been downgraded already by the rating agencies in the last 12
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months. the economic prospect of is very short—term, it is safe because the current governments remains in power and takes care of finances but the longer they last the more unlikely or risky it becomes, the economic outlook and the more unstable the fiscal situation may be. one of hollywood's oldest companies — paramount global — has agreed to merge with independent film studio skydance media. in a complex deal — paramount's non—executive chair, shari redstone, will sell her family's controlling stake in the company. the merger will result in a new business worth $28 billion. paramount says it expects to close the deal by next summer. danish brewer, carlsberg, has agreed to acquire british soft drink producer britvic for more than $4 billion. currently, britvic manages 39 brands — including the uk's production, distribution, and sales of popular drinks like pepsi and 7—up. the acquisition by the brewer is part of the company's larger
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strategy to accelerate growth in its portfolio outside of beer. currently, its �*beyond beer�* catergory accounts to only 2% of carlsberg's total volume. let's recap the market moves in the us now. it was another record day for both the s&p 500 and the nasdaq, while the dow jones index closed flat. investors have a busy week ahead, with the us inflation print forjune, which is due on thursday. i'll have more business news, thank you forjoining us.
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this is the catch up. russian strikes in ukraine, exciting baby news and torres gets soaked in barcelona. first the new chancellor rachel reeves has announced plans to build
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loads more homes, she says the government will build 1.5 million in england over the next five years and will loosen tough planning rules. also today the new prime minister has been in wales and northern ireland after visiting scotland yesterday. now to ukraine, where children's hospital in kyiv was hit by russian strikes. at least 36 people have been killed across the country by russian attacks. russia denied targeting civilians. some other stories now, has been a surprise result in france's parliamentary election after the far right were expected to win. instead they came third with a group of left—wing parties winning the most votes but no party won a majority needed to create a government. simon cowell has said the uk needs the next zane. he reckons the amount of uk artists breaking globally has fallen, he will search for the next star in a new show on
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networks. great news forjack grealish and his girlfriend, they have announced they are expecting their first child. jack posted the cutest picture of him hugging her with the caption, life's biggest blessing. and now for ten seconds of protesters squirting water at tourist in barcelona. as thousands have been demonstrating against the huge amount of visitors there. you probably finish your dinner pretty quickly if you are those torres, i knowi pretty quickly if you are those torres, i know i would be. you're all caught up, see you later. hello and welcome to sportsday. djokovic hits back at the boos to cruise into the wimbledon quarterfinals. have england finally got a spring in their step, heading into the euro semi—finals.
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and a few more overs and out, an emotionaljames anderson prepares for his final england test. hello there. we'll start with tennis because the quarterfinal line up is complete at wimbledon, the last spot in the men's draw taken by a clearly agitated novak djokovic who rounded on some sections of the crowd after his staright sets win over holger rune. the seven time champion beat the danish fifteenth seed 6-3, 6-4, 6-2. after his win, djokovic had a strong word for the fans who had he claimed had been booing him, saying it was disrespectful, and he wouldn't accept that they were simply chanting rune's name to all of those
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people that have chosen to disrespect the player,

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