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tv   Business Today  BBC News  August 7, 2024 11:30am-11:46am BST

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tourists in copenhagen are rewarded for climate friendly actions. we have a special report. welcome to business today, i'm mark lobel. let's start with elon musk�*s x. it has filed an antitrust lawsuit against an advertising group and several companies including mars and unilever. the social media company claims the group colluded to discourage brands from advertising on the platform once known as twitter. allegedly costing it billions of dollars in lost revenues. the bbc has reached out to the defendants but has yet to hear back. for the full story, from new york, here's michelle fleury. elon musk�*s social media company x has accused the global alliance for responsible media, a coalition of major advertisers, of violating us antitrust law. the suit alleges that this group, along with its members, which include companies like mars
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and unilever along with the world federation of advertisers, colluded to suppress conservative voices and withhold billions of dollars in advertising revenue from the platform formerly known as twitter. x's ceo linda yaccarino, who was hired in part because of her strength in dealing with advertisers in her previous job, announced the lawsuit. i was shocked by the evidence uncovered by the housejudiciary committee that a group of companies organised a systematic illegal boycott against x. it is just wrong and that is why we are taking action. most social media companies provide their services to users for free, relying on ad dollars to be profitable. in its filing, the company says that back in 2022, 90% of its revenue came from advertising. today, most of it is from small and medium sized companies that aren't members of this group,
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adding that this has reduced its revenues and ability to invest in its products, harming users of the site. professor rebecca hall—allensworth, who is an antitrust expert at vanderbilt university, believes that x does have a case, just not a very strong one. it seems like what the companies were doing and boycotting x was really trying to make a statement about x's policies and about their brands — that's protected by the first amendment. and i think this is unlikely to be seen as a real anti—competitive kind of antitrust violation. mr musk likes to present himself and his platforms as champions of free speech, but what he now calls a war with the advertising industry suggests that even he thinks there are limits to that freedom. michelle fleury, bbc news, new york. virgin atlantic's november
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flight 100 from london to new york was heralded as a breakthrough at the time. the first commercial flight to ever cross the atlantic on what's called sustainable aviation fuel. no changes were needed to the aircraft either. proof it could be done. but now virgin is in hot water for a radio ad celebrating the achievement at the time. the uk advertising standards authority has upheld a complaint it was misleading as it gave a false impression about the fuel�*s environmental credentials. so how environmental is this fuel? let's speak to aviation strategy & sustainability supremo patrick edmond. patrick, the uk watchdog banned this ad because they suggested sustainable aviation property is no carbon emissions or wider environmental impact at all but that is not the case at all. m0. environmental impact at all but that is not the case at all.— is not the case at all. no, it isn't on the short _ is not the case at all. no, it isn't on the short summary _ is not the case at all. no, it isn't on the short summary is - is not the case at all. no, it isn't - on the short summary is sustainable aviation fuel is not. unfortunately,
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thatis aviation fuel is not. unfortunately, that is how it is, it's much more sustainable but not completely. my understanding, and it was surprising, the way is sustainable as it uses captured carbon recycled into the fuel but the flight itself still lets off the same amount of carbon emissions, is that correct? you burn one tonne of fuel whether it sustainable fuel, fossil fuel or kerosene and you produce three tonnes of c02 but the difference is if it is fossil kerosene, that releases carbon trapped underground so it increases the carbon in the atmosphere whereas if it is sustainable fuel that carbon was just captured from the atmosphere by plants or machinery in the last few months or year or two so it's just borrowing it from the atmosphere if you like. it borrowing it from the atmosphere if ou like. , . borrowing it from the atmosphere if oulike. ., ,, you like. it is popular because the u-rou you like. it is popular because the grow) which _ you like. it is popular because the group which owns _ you like. it is popular because the group which owns aer _ you like. it is popular because the group which owns aer lingus, - you like. it is popular because the i group which owns aer lingus, british airways and iberia bought 28,000 tonnes of the stuff in spain recently but it is expensive. it is exnensive _ recently but it is expensive. it is exnensive and — recently but it is expensive. it is expensive and the _ recently but it is expensive. it 3 expensive and the price will recently but it is expensive. it 1 expensive and the price will come down over time but it significantly more expensive than regular fuel and
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is the closest thing at the moment that the airline industry has to a silver bullet for reducing emissions but it is a huge challenge to expect we will have enough in time. this year sustainable aviation fuel will count for about 0.5% of all aviation fuel and the goal in the eu is to reach 70% by 2050 so there is a huge scale up needed. reach 70% by 2050 so there is a huge scale up needed-— scale up needed. what are the silver bullets that can _ scale up needed. what are the silver bullets that can reach _ scale up needed. what are the silver bullets that can reach net _ scale up needed. what are the silver bullets that can reach net zero - scale up needed. what are the silver bullets that can reach net zero with i bullets that can reach net zero with virgin pledging to reach it by 2050? sustainable aviation flaw is the closest but the big challenges is it is growing all the time sides chasing a moving target to a large extent and we can expect electric aircraft and more efficient operations but saf will be the biggest lever we have to get there but it's hard to recognise that —— reconcile that with continued growth at the current rate.—
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at the current rate. patrick edmund, thank ou at the current rate. patrick edmund, thank you for— at the current rate. patrick edmund, thank you forjoining _ at the current rate. patrick edmund, thank you forjoining us _ at the current rate. patrick edmund, thank you forjoining us on - at the current rate. patrick edmund, thank you forjoining us on the - thank you forjoining us on the programme. for many it's that time of year when we pack our bags and head off for a much needed holiday. so how would you feel when you're there being asked to take part in a bit of litter picking? or maybe a spot of weeding? not your cup of tea? well, if your heading to denmark's capital copenhagen these are some of the activities on offer. they will earn you perks like free ice cream and discounted museum entries. it's all part of a scheme trying to encourage tourists to be more responsible. adrienne murray has been testing it out. would you litter pick while on holiday in return for scooping up rubbish, visitors here get a free hour cruising around in a battery powered boat. it's part of copenpay, a new scheme that nudges tourists to be more eco friendly. we have got interest for more than 500 people. we were so loud even before we launched, we could see that there were so many people that
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wanted to go out on the go boat and try the experience, and also help cleaning the harbour. the challenge though is finding some trash. there we go. we saw in the paper they were doing this citywide, keeping it clean, environmentally friendly activities so we thought it would be really good. it's very, very clean anyhow. we got a chocolate muesli bar and the best thing we found was a cork. 20 attractions across the danish capital are involved in the month long pilot. the idea is to encourage travellers to think and act a little more sustainably by rewarding their green deeds, such as getting around by foot or by bike. introducing copenpay... there's a range of activities, from sports rentals to museum visits, where the perks include free coffee workshops and discounted tickets. it comes as record numbers of visitors have flocked to denmark, but copenhagen�*s carrot rather than stick approach stands in stark
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contrast to other european cities fed up with mass tourism, which have brought in more restrictions and even seen protests. when you go travelling, sometimes you forget the good habits you have at home. we want to inspire to more conscious, sustainable mindset and behaviour amongst travellers. some might question whether it's a marketing gimmick. we haven't done this to attract tourists because obviously we have many tourists already. so the reason why we're doing this is to make tourism a positive force for change, and not an environmental burden. at this urban farm, volunteers are mucking in with weeding and harvesting, and afterwards their efforts are rewarded with a delicious lunch. personally, i always find a way to be more like conscious about the green issues as a tourist. i mean, at the end of the day, why not do something to give back to the city? just how impactful this scheme will be remains to be seen. in a city where most people cycle or use public transport,
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the heaviest climate footprint often comes from how tourists get here, though experts do think it's a step in the right direction. it provides some opportunities for getting involved. some, i would say, are more impactful than others. in the overall picture, i don't think it's going to like do a really a lot for the environmental issues. while copenpay has seen lots of interest. litter picking isn't for everyone, especially on holiday. you're here for like a weekend. probably wouldn't go litter picking or something like that. i would not. i would not think about that. it is an option in the first place, but when i get offered it i would. yeah, consider. if the pilot works well, it could be rolled out more widely. in the meantime, perhaps i can all do a little more to help while we're on holiday. adrienne murray, bbc news, copenhagen. in other news....
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japanese technology investor softbank group swung to a small net profit of $70.7 million in the april tojune quarter. it was helped by buoyant valuations of tech stocks. it is its third consecutive quarter of gains but was quite a bit below analysts' expectations. japan's honda motor has reported a 23% increase in first—quarter profit. the automaker benefited from a weaker yen and is sticking to its full—year profit forecast. japan's second—biggest carmaker�*s quarterly operating profit was $3.3 billion in the april tojune period which is slightly better than expected. boeing has committed to working on a design change to avoid a repeat of that mid—air door plug blowout on alaskan airlines 737 jet injanuary. initial findings showed the problem was that four bolts meant to secure the panel were missing. but at the latest two—day hearing conducted by the national transportation safety board, officials have not been able to identify where in the work
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process the lapse occured. ridesharing giant uber has reported strong earnings from april to june, beating analyst forecasts. driving the positive results was growth in latin america and the asia pacific region. the optimism surrounding ridesharing has spurred a rally with uber�*s stock rising by close to 5 percent. following last month's massive global outage, microsoft has pushed back against delta airlines claim of seeking 500 million dollars worth of compensation. last week, delta's ceo had attributed microsoft and crowdstrike to have caused the cancellation of thousands of flights and was therefore seeking damages. but on 6th august, microsoft — through a lawyer — stated that it was delta's older it infrastructure that slowed down its recovery from the blackout. lets take a look at the markets. london stocks inched higher.
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this boosted by financial stocks and corporate earnings. markets stabilised after a global stocks rout earlier this week. the acquires up over 8% and interesting —— the niakhate is up over_ interesting —— the niakhate is up over 8% — interesting —— the niakhate is up over 8% and it's one of the reasons that spurned the initialjump in stock, — that spurned the initialjump in stock, the _ that spurned the initialjump in stock, the biggestjump we have seen for decades. stay stock, the biggest “ump we have seen for decades. . , stock, the biggest “ump we have seen for decades-— for decades. stay with us on bbc news.
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hello from the bbc sport centre. norway's jacob ingerbritssen hasn't had long to dwell on missing out on a medal in the 1500m on tuesday — he's already been back on the track in the heats
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of the 5000m where he won to book his place in the final. in the 1500 metres he and josh kerr battled it out in one of the great rivalries in athletics, but both lost out on the gold to american cole hocker. ingerbritssen took the race out fast and paid for it in the latter stages, finishing fourth. kerr couldn't hang on in front, as hocker sprinted through, but he did set a new british record on his way to silver. it took the fastest 0lympic it took the fastest olympic 1500 metres race in history to be able to beat me and that is what happened and you shake everybody�*s hand and you move on and try and get better from it and i think there will be some good storylines coming out of this 0lympics some good storylines coming out of this olympics and going into the world championships in the coming years and then the next cycle will be coming towards la.
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i've always had a good finish most

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