tv Business Today BBC News August 6, 2024 1:30am-1:45am BST
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saw its worst day since the black monday crash. a us federaljudge has ruled that google�*s online search monopoly is illegal, paving the way to reshape how technology companies operate. hello and welcome to business today. i'm arunoday mukharji. we are seeing some signs of stabilisation across the markets. japan, which saw its worst day since the 1987 black and a crash, is regaining ground today, up 8%. and a crash, is regaining ground today, up 8%. those and a crash, is regaining ground today, up 8%. those are the figures that are coming in. our reporter has the latest. what are you crazy volatility. yesterday a circuit breaker was triggered because the nikole felt too
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much and this morning the same circuit breaker was triggered because it was rallying too much. it opened about 2% higher diets out by about 8% are definitely a sigh of relief for many investors because japan now has many more retail investors who have started investing in the stock market only recently and yesterday's crash was the first market meltdown so a lot of panic some off yesterday but at least this morning we are starting to see... cannot call it a recovery yet but at least cher is rebounding about 8% after the fall of 12.4% yesterday, the fall of 12.4% yesterday, the biggest points fall ever, bigger than covid all the big earthquake that hit the country in 2011 or even bigger than black monday in terms of the number of points it lost. the japanese yen has been the key. its weakness was the problem before. last wednesday the bank of japan raised before. last wednesday the bank ofjapan raised interest before. last wednesday the bank of japan raised interest rates and the japanese yen has been
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strengthening and this is why especially exporters�* shares have been hit hard. ifelt that the govern of the central bank yesterday because the crash was dubbed... because it seemed to have been triggered by that rate hike last week. there were other factors like the week jobs data last friday in the us but at least we are seeing some recovery in the japanese stock market. ~ . market. we will leave it there. thank you _ market. we will leave it there. thank you very _ market. we will leave it there. thank you very much. - market. we will leave it there. thank you very much. it - market. we will leave it there. thank you very much. it was i market. we will leave it there. thank you very much. it was a | thank you very much. it was a another brutal session on wall street with the dowjones slipping over 1000 points. her fear of a us recession continues to grip the stock market. investors seem to be worried the federal reserve has waited too long to lower the cost of borrowing. staying with the us, federaljudges ruled
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that google acted illegally to crush competition and maintain a monopoly on online and related advertising. our north america business correspondent michelle fleury has all the details. cougal lots of a high—stakes battle with the government. a federaljudge ruled the payments it may to apple and samsung to make it search the default option on their smart phones and web browsers violated us anti—trust law. in his 277 page ruling, thejudge in washington wrote: concluding that the money it had spent effectively blocked rivals from succeeding in the market. it represents a major setback google and its owner alphabet, which plans to appeal the decision. a spokesperson for the company told the bbc this decision recognises that google offers the best search
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engine, but concludes we should not be allowed to make it easily available. for now the ruling is a vindication for america�*s anti—trust regulators. the justice department which filed the case nearly four years ago when donald trump was president, hailed the outcome as a historic win and said it would continue to vigorously enforce anti—trust laws, no doubt sparking fear in the corporate offices of some of the big technology giants. it is not yet clear what this will mean for the future of google �*s business. this decision is only about google �*s liability, about google �*s liability, about remedies. in other news, elon musk has revived his lawsuit against openai and its boss sam altman. according to court filings, musk is still alleging that openai is putting its own commercial interests ahead of the public good. the suit also targets microsoft�*s exclusive partnership with the chatgpt owner. musk had founded 0penai back in 2015, and two months ago unexpectedly dropped a similar lawsuit
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against the company. tiktok says it will permanently withdraw a rewards feature from use in the european union after the bloc complained that it could "stimulate addictive behaviour". tiktok lite is a smaller version of the video—sharing app, and has been available in france and spain since april. but the european commission said its rewards feature, which enables adult users to earn points to exchange for goods, breached eu�*s digital services act. now the chinese—owned company has given a legally binding commitment not to include the feature in europe — the first time the eu has accepted such an agreement. the unrest in bangladesh that ousted the long serving prime minister is rooted in the country�*s struggle with rising unemployment and a flagging economy, both of which remain on even shakier ground amid the ongoing political uncertainty. the bbc�*s archana shukla with more on the economic impact of the developments in bangladesh. the current unrest started
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against job the current unrest started againstjob quotas but the underlying economic distress has field it further. youth unemployment is high, nearly 32 million young bangladeshis, about 20% of the population, are out of work. and the private shop market has been stagnant for years. add to that of flagging economy, deemed a failure of the previous comment in recent years. inflation hovers around 10%, heel and food prices have been soaring affecting households dealing with low incomes. country�*s foreign exchange reserves are shrinking at its carmen sector, a key 0la dollars, struggles to fully reopen. the country is under $4.7 billion financial bailout programme from the international monetary fund and the current unrest has shaken the current unrest has shaken the ground further. frequent long bouts of internet shutdowns have brought financial and business transactions even exports to a standstill. the foreign—based as chamber of commerce and industry has estimated these curfews and internet shutdown could cost about $10 billion to bangladesh�*s economy at the least. economists i spoke with say the current logical
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uncertainty would add to the economic pressures. important to see how capable is the interim government and the need to seek confidence from the private sector and the public to bring back non—... it remains an uphill task. china�*s heavily indebted property giant evergrande together with its liquidators, is seeking to recover about $6 billion in remuneration from seven people, including its founder. according to its filing with the hong kong stock exchange, the amount is claimed for the damage caused by alleged misrepresentations of the company�*s financial position between 2017 and 2020. evergrande was once china�*s biggest real estate firm, that helped propel the country�*s rapid economic growth during recent decades. australia is a world leader in residential rooftop solar but a third of the population is locked out of the benefits. so—called solar gardens could
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allow rental properties, apartment buildings and social housing to enjoy the savings from renewable energy but a vast majority of australians in rental accommodation do not have access to solar panels. sydney�*s annual vivid festival is a celebration of light and innovation. this fellow commons exhibition highlights the barriers faced by households that are shut out of the transition to green energy. 50 transition to green energy. so far we transition to green energy. sr far we have been a great solo success story in australia because we already have more than 30% of households the solar on their roots but it is now about getting that solar to the rest of the population. we are about the doc mineralisation of power. we want more people to have access to cheap power and reduce the cost of living.— cost of living. australia's first large-scale - cost of living. australia's first large-scale asked . cost of living. australia'sl first large-scale asked -- first large—scale asked —— solar garden is 500 kilometres from sydney. it can power about 700 homes. residents in apartments, for example, can buy or lease solar panels. the
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electricity it generates is credited on energy bills. the plan is to build smaller projects in towns and cities. i am a writer, cannot get solar. i have lived in apartments, could not get solar. in the beginning it was definitely important to have localised renewable energy embedded within the city to provide energy resilience, energy independence, stabilise the grid. it has many benefits. but some exnerts _ grid. it has many benefits. but some experts believe many community solar projects will not save residents much money or make a meaningful contribution to decarbonisation. they insist, however, landlords should be required to install rooftop panels or make their properties far more energy efficient. however, as housing becomes more dense in son loving australia, many tenants simply want to feel part of the big switch to renewables in any way they can. i
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switch to renewables in any way the can. ., ., , they can. i do feel a bit frustrated _ they can. i do feel a bit frustrated because - they can. i do feel a bit frustrated because i. they can. i do feel a bit| frustrated because i feel they can. i do feel a bit - frustrated because i feel like i do not really have access to the solar boom and i cannot participate other than in the projects like this where we can put solar panels in the public spaces for the whole community, including the tenants.— including the tenants. about a third of australia's _ including the tenants. about a third of australia's energy - third of australia�*s energy comes from renewable sources. an 82% target has been set for 2030. there is much work to do. campaigners say booming solar gardens would help to illuminate a brighter future. phil mercer, bbc news, sydney. and that�*s it for this edition of business today. do stay on with bbc news.
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great britain have their first 800m olympic champion for 20 years. keely hodgkinson lights up the stade de france. reaching new heights, duplantis retains his 0lympic pole vault title with another world record. biles is strangely off balance on the beam as she fails to add to her golden tally on the final day of the gymnastics. it�*s been another really good day for great britain at the olympic games, keely hodgkinson�*s 800m gold, moving them back up to fifth in the medal table and after taking silver three years ago in tokyo, and also finishing second at the last two world
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