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tv   Business Today  BBC News  August 15, 2024 5:30am-6:01am BST

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lovely to have you on board. live from london, this is business today. i'm sally bundock we begin here in the uk where the latest economic growth figures for the second quarter of this year are expected shortly. and economists are not over—excited with most predicting the uk saw a smidgen of growth. around 0.7% in the months of april tojune. but it is growth, in fact the biggest expansion in over two years as marc ashdown reports. football didn't quite make it home again but euros give uk june gdp figure a gentle kick in the right direction. gross domestic product is a measure of all the economic activity of company governments and people in the country. one of major
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sporting entertainment events with seasonal son or downpour can affect how productive we are month—to—month. after big quick update on employment and and inflation, the latest monthly and quarterly meetings give another indication of where the economy is heading. the economic story that continues to be one of recovery after the uk teaching to your brief but shallow recession at the end of last year, two consecutive quarters of growth will be welcomed even if some months may prove to be bumpier than others. given the historical and will in part depend on small enterprises, being able to dive, like carrieton who up a steadyjob to grow her passion into a business venture. she has two stores. $5 business venture. she has two stores. �* , . , . business venture. she has two stores. �* , ., , ., , stores. as well as having my saces, stores. as well as having my spaces. i _ stores. as well as having my spaces. i do _ stores. as well as having my spaces, i do market- stores. as well as having my - spaces, i do market conventions and that sort of thing. people want to get out and about again, though don't want to
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shop online, they want a more personal experience rather than the faceless corporation. they want to know who they are buying from. that is my opinion but what i experienced. boosting growth is essential to the new labour government plan to get britain moving. economists warned not to read too closely to how gdp varies from month to month but the hope is the economy will keep improving. joining me now is simon french chief economist at panmure gordon. good morning. first of all, what are you expecting? do you agree growth in the last quarter?— agree growth in the last uuarter? . , ., . quarter? that is great. we think growth _ quarter? that is great. we think growth of _ quarter? that is great. we think growth of about - quarter? that is great. we| think growth of about 0.596 quarter? that is great. we - think growth of about 0.596 on think growth of about 0.5% on annualised basis which is around 2% in the year, closer to the uk trend growth we have beenin to the uk trend growth we have been in the last couple of years. uk economy has faced a
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series of locks, a lot of them energy taste. the kind of volatility we have seen over the last four years. yesterday we saw the — the last four years. yesterday we saw the patient _ the last four years. yesterday we saw the patient dropped l we saw the patient dropped slightly. in the month ofjuly, what will that mean for future growth? what the bank of england might do with interest rate because where interest rates go with them growth, won't it?— rates go with them growth, won't it? . , ~ won't it? certainly. i think it is the right _ won't it? certainly. i think it is the right context - won't it? certainly. i think it is the right context because| won't it? certainly. ithink it i is the right context because as your report prior to the to set, gdp is passed at the picture. when looking at the health of the economy it looks at the broad indicators. inflation closer to the 2% target or two, delivered, the bank of england thinks they can stimulate growth interest rate
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cuts. already done so in august. they expect a further one in november. what this means is borrowing cheaperfor businesses and households and generally tends to be quite positive growth. the outlook while short—term is yet to be impacted into 2025 which is a more than relevant rust and you would expect an interest rate, and multiple interest rate cuts to be quite stimulus for growth. to be quite stimulus for growth-— to be quite stimulus for urowth. ~ _, , ., to be quite stimulus for urowth. ~ , ., ., growth. when it comes to what the government _ growth. when it comes to what the government might - growth. when it comes to what the government might do - growth. when it comes to what the government might do to i the government might do to stimulate growth, which will be as come expecting her budget in as come expecting her budget in a few months time, your thoughts on the government bruised growth and how they might be?— bruised growth and how they miaht be? ,, ., , ., might be? quite a big moment. the first budget _ might be? quite a big moment. the first budget from _ the first budget from chancellor rachel reeves. doesn't have a lot of wiggle room, what we call for school space, the gap versus her rules which governs how much she can spend to try and stimulate growth. tax cuts, big spending increases, the type of things
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you could anticipate to bruised growth won't be on the table. she will try to talk a lot about the stable backdrop, her traders secure nymex and if she can do that, she is hoping the private sector, particularly household building up savings, businesses that have invested since the brexit referendum, will help her out in terms of growth. will help her out in terms of urowth. ., ~' ,, will help her out in terms of urowth. ., ~ i. ., will help her out in terms of urowth. ., ~ ., ., growth. thank you. have a lovely day- _ train drivers are to vote on a new deal aimed at ending the long—running pay dispute between drivers and train companies in england, the union aslef has announced. it could herald the end of industrial action which has spanned more than two years. our transport correspondent, katy austin has the details. after two years, eating trucks and one change of government,
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the train driver is better pay dispute is on the verge of resolution. union leaders arrive at the department of transport for talks and at the end of the day and offer was on the table. the last supper back in april 2023 was the beau pearson pavers for each of the past years on condition that a list of changes were agreed to working arrangements. for example about training and sunday working. they were a big sticking point. as new three—year offer includes both higher pay rises and backdated 5% for 2022 and tapering down to 4.5% for this year. importantly the conditions importa ntly the conditions attached importantly the conditions attached appear to have been dropped. members will vote on whether to accept it. it is dropped. members will vote on whether to accept it.— whether to accept it. it is a deal that — whether to accept it. it is a deal that resets _ whether to accept it. it is a deal that resets industrial. deal that resets industrial relations in the industry. a deal that will help us move on. bester we believe we can achieve and we believe will resolve the dispute and we believe it is the right thing
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to do. ., , believe it is the right thing todo. ., ,. ._ to do. the transport secretary calls this a — to do. the transport secretary calls this a breakthrough, - calls this a breakthrough, accusing the previous government of dragon destruct cell. conservatives argue scrapping regular practice reforms will lead to higher fares or taxes union members give it the green light. today's agreement could spoken before many thousands of road users and businesses. —— rail users. questions will be asked about how the wage rises will be funded. justin urquhart—stewart is founder of the investment platform regionally. good morning. katie puts an important question at the end of that package. how is this increase is going to be funded if the unions vote for it? the government _ if the unions vote for it? the government is _ if the unions vote for it? tue: government is desperate if the unions vote for it? tte: government is desperate to if the unions vote for it? tt2 government is desperate to get this one clear because it is the biggest blockage the previous government had. if we get this other way there is reasonable chance others will fall into place. however, if you give too much await what
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will happen? looking at the details here, exactly how much is being given away, will be carefullyjudged plan to see if they have something that was in to make sure there is proper control but not giving too much away so that everyone else can charge them for one. the strike action that _ charge them for one. the strike action that has _ charge them for one. the strike action that has been _ charge them for one. the strike action that has been ongoing i action that has been ongoing for two years or more, it has been extremely disruptive. certainly in london but other cities around the country, the impact on many people, the economy. also this follows hot on the heels of pdl deals being brokered betweenjunior on the heels of pdl deals being brokered between junior doctors and sector workers. there is the question of could this be inflationary going forward, your thoughts?—
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inflationary going forward, your thoughts? they will say it is inflationary _ your thoughts? they will say it is inflationary but _ your thoughts? they will say it is inflationary but they - your thoughts? they will say it is inflationary but they need i is inflationary but they need to get these deals quickly because with the railway strikes, it has been really affecting the economy a great deal. the combination of those things, get them to and you find actually like will be considerably easier. the will to inflationary? it may well be all right. with a bit of luck they can get it takes the opportunity of getting everyone back to work again rather than just paying too much may be a right dealfor the just paying too much may be a right deal for the moment. just paying too much may be a right dealfor the moment. get the other way now —— get it out of the way now. t’m the other way now -- get it out of the way now.— of the way now. i'm sure the bank of england _ of the way now. i'm sure the bank of england is _ of the way now. i'm sure the bank of england is watching | bank of england is watching quite closely. he warned when installation started to realise ugly head sometime ago he warned chief executives and the government against free to high wage deals. government against free to high wage deals-— wage deals. capital of that indeed. the _
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wage deals. capital of that indeed. the question - wage deals. capital of that indeed. the question is . wage deals. capital of that l indeed. the question is what you will call high degree so that you get the country back to work. the really mignon du preez. that they can carry on like this for the moment because they have recently been well paid and at the same time there because of the economy real promise they have to try to get it fixed. it will even pay more for it. the question will be if they pay too much inflation and if all else falls on as well and what you have the problem in the 19705 where everyone is going to the same inflationary. i don't think you will see that this time. on the other hand the government will want to get the under way quickly to make sure everyone else doesn't pu5h too hard. figs else doesn't push too hard. as ever, a pleasure. thank you for your time. ever, a pleasure. thank you for yourtime. see ever, a pleasure. thank you for your time. see you again soon. you may be on holiday right now or about to go. if you have yet to pick your destination how about this for an idea north korea.
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it's reported the country will be opening up for international tourism 5oon. let's go to our asia business reporter pierre—antoine deni5 has the details. do tell. i wonder if people will be rushing to go to north korea or not.— will be rushing to go to north korea or not. well, if they are interested _ korea or not. well, if they are interested to _ korea or not. well, if they are interested to go, _ korea or not. well, if they are interested to go, if _ korea or not. well, if they are interested to go, if you - korea or not. well, if they are interested to go, if you are i interested to go, if you are interested to go, if you are interested to go, you have to plan ahead and wait at least until december to get on a plane to north korea according to operators that announced the news in the last few days. what we know is if you do go there, you will only for now be able to go to one city and no that is not purely young, there is a completely rebuilt re5ort is not purely young, there is a completely rebuilt resort on the country �*5 highest and most secret mountain. very important
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for kimjong un and north korean familie5 because this is where the father of kim jong un i5 where the father of kim jong un is reported to be born. he put huge re5ource5 is reported to be born. he put huge resources into this resort to create 5ki slopes, villas, hotels that he desperately needs to be filled right now. also what we know for the north korean economy it is important because in 2019 there was a record number of chinese touri5ts, at 300,000 foreign tourists came, many chinese came to north korea, that was reported to bring you north korean economy around $100 million but as the countries we open borders, there will be real question marks surrounding we5tern touri5ts, rabbi doesn't listen to is coming each year. when we look to the travel advisory there are also the same thing, don't travel to north korea at all. under any circumstance.— north korea at all. under any circumstance. thanks so much. see again _ circumstance. thanks so much. see again soon. _ let's get some of the day's other news now.
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japan's economy grew 3.1% annually in the april tojune quarter, beating estimates. on a quarterly basis gdp rose 0.8%, reversing the contraction we saw in the first quarter of the year. the stronger data comes a day after prime minister, fumio ki5hida, made a surprising announcement to step down next month. confectionery giant mars has struck a deal to snap up pringles and poptart—maker kellanova for nearly $36 billion. despite being the biggest 5nacking buyout this year, legal experts are not expecting too much regulatory 5crutiny. mars says the acquisition could close in the first half of 2025. shares of kellanova popped nearly 8% after the news. apple will be opening up its contactle55 payments technology on its iphone to third—party developers for the first time.
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this follows regulatory pressure that the company has been facing so far in the us and in the eu. in order to access the new feature, developers will need to enter a commercial agreement with apple, and pay related fees which the company has not disclosed. this access will be available in seven countries including the uk and the us with additional locations to follow. and how to avoid the dreaded commute? what is the future of getting to and from work — we find out. around the world and across the uk. this is bbc news.
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if you are a household expecting a—level results i'm sure i don't need to tell you today is the day
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in england and wales. overall, how will students perform? last year saw a reversal in years grade inflation with 26.5% of exams revealing a grade a or a—star in comparison to almost 36% the year before and now many schools are exploring how to capitalise on artificial intelligence in the classroom to boost those numbers. but what are the risks and i5 technology making it easier for students to cheat? eilert hanoa is chief executive of kahoot! a global learning and engagement platform for schools and students. and busine55e5. good to happy on the programme. big day for students in the uk. technology
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has transformed education, hasn't it? i know kahoot! started in 2013 but with artificial intelligence, what does that mean?— artificial intelligence, what does that mean? first of all thank you — does that mean? first of all thank you for _ does that mean? first of all thank you for having - does that mean? first of all thank you for having me - does that mean? first of all| thank you for having me with the end going to listen to all uk students today. what we are seeing now may with al, the adaption of new technology by not only teachers from institutions but also students happening fa5ter ever than before. this is very positive, as any technology change will need to be implemented in the education system so all of us as we are fini5hing education system so all of us as we are finishing a lifelong journey can use that technology and whatever professional setting in the next phase. all in all, being able to use ai in class for studying and even for teachers to ea5ier create
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engaging presentations i5 teachers to ea5ier create engaging presentations is on the positive. that said as he also indicated, ai can be used as any technology to either cheat or a misuse for any purpose. that is not the focus when it comes to making more engaging learning 5olution5. t engaging learning solutions. i have to ask you, how do you make sure the technology improves a5 make sure the technology improves as opposed to stopping children from learning? for example, one of my sons and diet, civil, iwon't example, one of my sons and diet, civil, i won't name them. i called him in the kitchen doing his maths homework using chatgpt. he was not learning anything at all, just putting the question into his phone and getting the answer and getting 100%. how do you prevent that? i stopped it obviously, i intervene. this is the problem, isn't it? , ., ., ~
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isn't it? yes and no. at the calculator _ isn't it? yes and no. at the calculator came _ isn't it? yes and no. at the calculator came a - isn't it? yes and no. at the calculator came a few - isn't it? yes and no. at the i calculator came a few decades ago, it is his impact how test5 ago, it is his impact how tests are done and we are giving task5 are done and we are giving tasks for creativity and learning. at the end of the day especially in today's society and i'm sure you see this with your own children, the attention span is shorter and shorter. unless we are able to make learning more engaging and making sure we are both presenting information and engaging in that session, that it is easier and more fun than what it used to be. difficult to get the next generation to go all in on learning and that is wipe over 300,000 teachers i5 wipe over 300,000 teachers in uk are using kahoot! every year. to make 5e55ions more engaging and make sure all students are leaning in. $5 students are leaning in. as well technology, icing ai will help a lot in terms of finding a where the gaps and learning
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r. for each child it is very isn't it? some will understand some things and some others. this technology is helping out a lot, right?— a lot, right? yes and that is where we — a lot, right? yes and that is where we are _ a lot, right? yes and that isj where we are implementing a lot, right? yes and that is i where we are implementing ai a lot, right? yes and that is - where we are implementing ai as well. make sure learning is important at home. make sure learning is about you and been able to master and be engaged and really understand the topic. sometimes that can start with cheating, a5 absurd a5 with cheating, a5 absurd as that sounds, in order to get on board and maybe past the first hurdle. we believe over time there is no other way than treating engaging learning experiences at home and audiences and for group a55ignment5 audiences and for group assignments in order to really get all students to max out their full potential and be ready for the future work life. interesting. it is fascinating. thank you forjoining u5.
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and congratulations, fingers crossed, hope you get the cro55ed, hope you get the results you want if you're watching right now. the results you want if you're watching right now. the covid—19 pandemic changed the nature of the work life structure and the assumption that the majority of people mu5t commute to work daily finally ended. so are people still prepared to spend hours each day commuting to work? future of work expert, julia hob5bawm, believes that work—life balance and flexibility are now key to the office commute of the future. and 5hejoin5 me now. lovely to see you. what is the future work like when it comes to the journey in and out? tt depends whether you have any possibility of working hybrid or not. there are still plenty of what i call hybrid have—nots
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that have no choice but to work from a fixed location. but everybody who can choose wants to work more flexibly and this has changed, cities changed, the commute, all. sy5tem5 change. around 6% to 10% of the uk professional workforce changed job5 because of lack of flexibility. the old nine to five routine is oval where people can possibly make it over. that includes the commute.— over. that includes the commute. , ., , commute. many did not 'ust chance commute. many did not 'ust change jobs. i commute. many did not 'ust change jobs, they �* commute. many did notjust change jobs, they changed i commute. many did notjust - change jobs, they changed where they live. many moved out of big cities or the surrounding areas of big cities and moved to the coast. on the expectation they would be able to work from home and some now have to be in the office which is proving challenging. that is
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ri . ht. is proving challenging. that is riuht. in is proving challenging. that is right- in fact _ is proving challenging. that is right. in fact three _ is proving challenging. that is right. in fact three quarters i right. in fact three quarters of companies now and you can offer what is called location flexibility. some companies over promised and you can work from anywhere. in fact, wtf a work from anywhere and then changed mind5. this caused a lot of tension between employers and employees because it made managers and leaders look weak and mean and made employees open to the unfair charge of what a particularly unkind: this cold shaking from home. in fact what people want is a of what i call the community triangle. their homeland, work life and where the work has to take place, balanced in between. it is quite complicated. tt balanced in between. it is quite complicated.- quite complicated. it is complicated. _ quite complicated. it is i complicated. expectations quite complicated. it is complicated. expectations are they are now in a way they were
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not pre— pandemic. we're talking about all these young people re5ult5 today, they are our future workforce and they will expect flexibility and choice, won't they? when they are looking forjobs.— are looking for “obs. yes. generation _ are looking for “obs. yes. generation 2_ are looking forjobs. yes. generation 2 and - are looking forjobs. yes. generation 2 and coming | are looking forjobs. yes. i generation 2 and coming up generation z and coming up beneath them but they are still young, generation alper, who are yet to turn 16. the younger generation do you want flexibility although interestingly, the over 505 want flexibility a5 interestingly, the over 505 want flexibility as much if not more and if you think about it, that makes sense because the younger people want to learn, perhaps a nice hot coffee and facilities that younger generations might have lined up elsewhere. right acro55 generations might have lined up elsewhere. right across the economy, right across generations to the point you just made, things are not the same as they were before and i suppose what worries me as somebody that looks at these
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trends and advises companies, advises policymakers, there is still quite a big disconnect between reality and the wish. we've got to go, i am sorry to say. thank you for your time. that is all from me. hello, there. wednesday was a cloudier and fresher feel for most of us, but east anglia still clung on to some sunshine and some heat. 26 celsius was the high on wednesday afternoon in parts of suffolk. but the story will continue to change for thursday. under this influence of low pressure, some wet and windy weather will move its way into scotland and northern ireland. that will gradually sink its way south and east, but as it bumps into high pressure, the rain will weaken somewhat. so, first thing on thursday morning, we'll have a slightly brighter story northwest of the great glen. the rain turning showery from aberdeen down to glasgow
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and into northern ireland. heavier bursts of rain through the scottish borders into northwest england, and there will be a fair amount of cloud through northern england, the midlands, wales and southwest england. so if we draw a line from hull down to southampton, anywhere south and east of that should start the morning off dry with some sunshine. but the cloud will tend to build up as we go through the day. our weather front continues to sink its way south and east, weakening all the time, but a band of showery rain will push its way across wales and into the midlands. but we mightjust cling on to some sunshine. 26 celsius in east anglia, once again, fresher for most. now, that weather front will continue to push its way through the south and east during the overnight period, thursday, into the early hours of friday morning. it's the dividing line between fresher conditions to the far northwest. here, we'll start friday morning in single figures, but still a relatively warm night for sleeping, 17 or 18 celsius in the southeast corner. early morning cloud and rain will ease away. high pressure then builds
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once again. a few scattered showers into the far north and west, but on friday, a good deal of dry, settled and sunny weather for most of us. we've lost that humidity, that fresher feel will still continue, 14—21 degrees for most in the north, 20—25 across much of england and wales. now, into the weekend, high pressure will continue to build in from the west and continue to quieten things down, so not a bad weekend in prospect for pretty much most of us, really. a few scattered showers from time to time in the northwest, but on the whole, dry, settled and sunny, with highs once again peaking at 25 celsius, 77 fahrenheit. enjoy.
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good morning. welcome to breakfast with charlie stayt and naga munchetty. our headlines today... it's results day for hundreds of thousands of a—level, t—level and btec students, with grades expected to return to pre—pandemic levels. iamat i am at danny college in lancashire where students will get a open these envelopes and find out what their future holds. an outbreak of mpox, which has
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killed hundreds in parts of africa, has been declared a public health emergency by the world health organisation. peace talks are due to resume today, in an attempt to end the fighting in gaza, but hamas says it won't attend. good morning. in sport, will any team stop real madrid this season? one of the best players in the world kylian mbappe scores on his debut for one of the best teams in the world, as real win a record sixth uefa super cup. heavy rain across the north of the country this morning.— country this morning. spreading slowly south _ country this morning. spreading slowly south and _ country this morning. spreading slowly south and east. - country this morning. spreading slowly south and east. behind i country this morning. spreading slowly south and east. behind it country this morning. spreading i slowly south and east. behind it a return _ slowly south and east. behind it a return to — slowly south and east. behind it a return to bright spells and showers. in return to bright spells and showers. in the _ return to bright spells and showers. in the south—east it will stay mostly— in the south—east it will stay mostly dry. the wind is picking up across _ mostly dry. the wind is picking up across england and wales. all of the details _ across england and wales. all of the details shortly. it's thursday, the 15th of august. hundreds of thousands of students in england, wales and northern ireland
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are receiving their exam results this morning.

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