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tv   Business Today  BBC News  August 26, 2024 11:30am-11:46am BST

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plus, plastic pollution — the un holds talks on curbing the 23 million tonnes of it dumped into oceans and rivers every day. welcome to business today. we start with tech because the telegram messaging app has condemned the arrest in france of its billionaire founder, pavel durov. telegram has insisted that it abides by eu law and said it's "absurd" to hold its russian—born owner responsible for abuses of the platform. telegram has been accused of not cooperating with investigations into drug trafficking, child sex abuse images and fraud. mr durov was arrested when his privatejet landed at an airport on the outskirts of paris on saturday. let's speak to chris stokel—walker,
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who covers the technology industry. he's in newcastle. thank you for being with us today. the company says that pavel durov has nothing to hide and it follows the rules on moderation. what is your interpretation? i the rules on moderation. what is your interpretation?— your interpretation? i think it miaht be your interpretation? i think it might be stretching - your interpretation? i think it might be stretching it - your interpretation? i think it might be stretching it a - your interpretation? i think it might be stretching it a little | your interpretation? i think it i might be stretching it a little bit for them to say that. telegram has an moderation system of sorts but it is known amongst its 900 million owed you choose as being more relaxed than other mainstream platforms, whether it is facebook, whatsapp or any others. while telegram might be saying that pavel durov is completely absolved of any issues here, i think there are some issues here, i think there are some issues with it because it is a smaller company, therefore has a smaller company, therefore has a smaller staff which makes it more difficult to moderate this stuff,
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but authorities think there is an issue here which is why they have stepped in. issue here which is why they have stepped im— issue here which is why they have steed in. . ,., , stepped in. telegram boasts of being enc ted, stepped in. telegram boasts of being encrypted. but _ stepped in. telegram boasts of being encrypted, but then _ stepped in. telegram boasts of being encrypted, but then whatsapp - stepped in. telegram boasts of being encrypted, but then whatsapp does i encrypted, but then whatsapp does the same thing. i am sure there are criminals out there using whatsapp to communicate. what is the difference between them, why are they arresting pavel durov and not mark zuckerberg? did they arresting pavel durov and not mark zuckerberg?_ mark zuckerberg? did degree in seriousness _ mark zuckerberg? did degree in seriousness and _ mark zuckerberg? did degree in seriousness and scale. - mark zuckerberg? did degree in seriousness and scale. pavel- mark zuckerberg? did degree in i seriousness and scale. pavel durov is seen as a middle —sized fish in a large pond, rather than mark zuckerberg who is the a—list celebrity of the stuff. taking such action against him would be seen as significant. there are a couple more elements that need to be pointed out. telegram is encrypted if you choose to opt into it, but it isn't default. that is a common misconception. a lot of communication through it or not as
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secure as people believe. the difference also is pavel durov�*s past, in terms of his being born in russia means that there is this kind of quasi grey area in which he operates, which i think is why allegedly cyber criminals and others have been using this tool as they state as being so powerful. is have been using this tool as they state as being so powerful. is this a warnin: state as being so powerful. is this a warning shot — state as being so powerful. is this a warning shot to _ state as being so powerful. is this a warning shot to other _ state as being so powerful. is this a warning shot to other media - a warning shot to other media bosses? ., a warning shot to other media bosses? . , ., ., bosses? there are several of them who have been _ bosses? there are several of them who have been reacting _ bosses? there are several of them who have been reacting to - bosses? there are several of them who have been reacting to this. - bosses? there are several of them l who have been reacting to this. they won't have to worry about stepping off a plane and ending up in handcuffs because they are a magnitude greater. this shows that the european union is notjust talking the talk, but is also walking the walk. are african governments and firms paying too much to borrow money, a so—called "prejudice premium"? that's the claim from samaila zubairu, ceo of the africa finance corporation, a group created by african nations to help fund the continent's infrastructure needs.
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the bbc�*s lukwesa burak has been speaking mr zubairu about the funding challenge facing africa. the first thing is that africa continues to have the fastest growing economies. some of the fastest growing economies are still in africa. of course, we are challenged by the debt situation that most african countries have, but what i always say is that we would always be in this situation because of the way our economies are structured. we have been doing the same thing for the last 200 years or more and expecting different outcomes, which is not possible. so african economies are not structurally aligned. we have basically focussed on producing raw materials, primary products for export, so we will do well when there is a commodity boom. africa has over 40% of the minerals and metals that are required for the energy transition. we have significant renewable energy sources to process these minerals and metals.
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so we provide the least carbon intensive path to global net zero. we have over 10,000 gigawatts of solar energy. we have 110 gigawatts of wind. we have 250 gigawatts of hydro. we have 15 gigawatts of geothermal and over 400 gigawatts of thermal gas. so we have this abundant energy sources to process these vast minerals and metals that we have on the continent. it will make sense to continue the current supply chain architecture, whereby we extract raw materials and then we export them to far flung areas to be processed and then sent back to the rest of the world. if you look at africa's equidistance to asia, europe and america, this is a place to process it. more importantly, we have the youngest workforce, and will have so for the next three to four decades, so this is africa's unique moment.
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let's move to the environment now because, over the weekend, the united nations has been hosting experts from around the world in bangkok for discussions on how to limit plastics pollution. it comes ahead of a summit scheduled for the end of november, when the un hopes to get a global treaty signed limiting the amount of plastics the world produces. according to the un environment programme, the equivalent of 2,000 garbage trucks full of plastic are dumped into the world's oceans, rivers, and lakes every day. that adds up to as much as 23 million tonnes of plastic waste a year. professor fadhel kaboub is a senior advisor at power shift africa, a climate action group. thank you very much forjoining us today. 0bviously, thank you very much forjoining us today. obviously, a treaty such as this is a very noble cause. realistically, will it be achieved, or how difficult will it be to
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achieve it?— or how difficult will it be to achieve it? ~ , ., achieve it? well, there is a un environmental _ achieve it? well, there is a un environmental programme - achieve it? well, there is a un - environmental programme resolution from 2022 that is mandating that not only reproduce a treaty but it would be late —— be a legally binding treaty to end plastic pollution. that is the challenge we are facing and we're hoping by the end of this will close the gap in the negotiations with about 300 bracketed terms and issues that need to be resolved over the next couple of months to finally achieve this major step, which is a legally binding treaty to end plastics, but also to fund it and figure out the financing mechanism. in also to fund it and figure out the financing mechanism.— financing mechanism. in your imagination, _ financing mechanism. in your imagination, what _ financing mechanism. in your imagination, what does - financing mechanism. in your imagination, what does a - financing mechanism. in your. imagination, what does a good financing mechanism. in your- imagination, what does a good deal, good treaty look like, and what impact will it have on businesses and consumers?— impact will it have on businesses and consumers? well, the science of it is very clear- _ and consumers? well, the science of it is very clear. the _ and consumers? well, the science of it is very clear. the economics - and consumers? well, the science of it is very clear. the economics of - it is very clear. the economics of it is very clear. the economics of
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it is very clear. the economics of it is where the debate is, in terms of which countries in which particular producers will bear the brunt of the burden of transitioning away from plastics. 0f brunt of the burden of transitioning away from plastics. of course there is the low hanging fruit of plastic items that can be phased out almost immediately, but then there is the narrative of the fossil fuel industry, which is used in plastics and petrochemicals in general as their survival strategies to convince the public that we can't live without plastics. that is unfortunately the narrative that some countries on the global south have gone down because they are dependent on them, in production, and also the use of plastics. we need to underwrite the cost to transition away from plastics in terms ofjobs, in terms of alternative technologies, in terms of alternative industries in the
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global south. that means that the global south. that means that the global north has a legal and moral responsibility under this treaty to transfer this technology to create the right pathway that is just and equitable and fair for all countries so that we put this into history behind us once and for all. thank you very much. over the weekend some of the most advanced racing yachts ever seen have been doing battle in barcelona's port vell in the last warm—up race for the 37th america's cup ahead of the final in october. the sailing competition has been going since 1851, making it the world's oldest international sporting event but it's embracing the latest technology. the ultra—light hydrofoil yachts are laden with upgraded electronics and software and can hit speeds of 60mph. and for the first time audiences will be able to watch the races and follow the crews' strategy using augmented reality showing
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wind and sea conditions. grant dalton — ceo of the americas cup and veteran of five round the world races, has been telling us how tech is transforming the sport. we have to keep stepping it up because tech and a lot of sports are using it to make the sport easier for viewers to understand. stadium racing, in close to the shore, big screens that allow the boats from a digital point of view to be seen by the viewers and understand. trying to explain to someone how about that has ten knots of wind is doing 50 miles in our, i'm not sure hayek that myself! sometimes that ted doesn't do exactly what it supposed
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to do in the environment we are in. we have introduced another piece of technology to try to help the viewer on tv or online watch it a bit more easily. it is something that no human can work out and that is the wind. with cap gemini we have come up wind. with cap gemini we have come up with the laser latent racecourse project the actual wind speed and direction to the viewer and allows the commentator to talk about the tactics that the guys on board the boats can use to get around the course the fastest. in other news, uber has been ordered to pay to a fine worth more than $320 million in the netherlands for breaking the law by sending the personal data of its european drivers to the united states. the ride—hailing platform is planning to appeal the fine, describing it as completely unjustified. australians now have the right to ignore messages from work after working hours. a new "right to disconnect" law
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is designed to curb the creep of work emails and calls eating into personal lives. the law does allow for bosses to contact their employees in an emergency and when it is reasonable to do so. let's take a look at the markets. investors don't seem to be much fussed by comments from the us fed chief on friday that the time is right for an interest rate cut. it could be that a rate cut has already been priced in. that is business today. goodbye.
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hello from the bbc sport centre. we'll start with football and there were three premier league matches on sunday. chelsea hammered wolves 6—2, while newcastle were held at bournemouth. there was also arne slot�*s first competitive home game as liverpool boss, which saw them maintain their winning start to the season.
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they beat brentford 2—0. luis diaz opening the scoring at anfield on his 100th appearance for the club, before mohamed salah added the second after the break. liverpool haven't conceded a goal yet either, so really it has been pretty smooth introduction to english football for the new dutch manager. for the new dutch manager. the big one coming up, though. they head to manchester united next sunday. the fans love to see the team playing really well, but they also love to see the team working really hard. and that's what we did today. and, um, i liked also what i saw. so if i like it, then mostly the fans like it as well. so it was a good day for us. but again we won against ipswich, we won against brentford — two good teams. i'm not expecting them to be in the top six in the upcoming year, so it's still a lot to prove for us in the upcoming weeks and months. there were four matches in la liga on sunday, with both madrid sides picking up a victory. england international conor gallagher came off the bench
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to make his debut for atletico after his £34 million move

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