tv Counting the Cost Al Jazeera June 11, 2022 12:30pm-1:01pm AST
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tons of our energy needs off all the gas is purified into by me. thing that is cleaner than natural gas. if then fed into a pipeline to the nearby town of home we, the gas produced at the farm helps to heat hundreds of homes in this town. as well as the swimming pool and the hospital in france, 3 new bio gas plants is switched on each week as private and public investment in the sector is increased in recent years, foul present in fidel kona was one that we need to develop these types of energy as part of the work we're doing in this region to transition to more sustainable sources locked by a gas. as the e. u tries to win itself for fresh and gas in response to the war in ukraine. bio gas alone can't fulfill the blocks immediate energy needs, but he is clearly part of the picture and a step towards a more sustainable future. is asher butler, al jazeera homer. you france. ah,
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this is al jazeera, these are the top stories, iran and venezuela signed a 20 year cooperation agreement. the deal means the work together in areas including oil, better chemicals, tourism and culture. president nicholas maderos and to run for talks with the runs leaders by massey handle. we will be witnesses in the coming years. our countries will confront the difficulties they face and create a new world. the youth in venezuela, the youth in iran, must know that the world of the future will be a just world without imperialism. a world of equality, both of us have to build that future mister president. and i can tell you, and all of the people of iran that you can rely on the support of venice were lucky's 20 countries at the summit of the americas of announcer so called los angeles declaration on migration. it creates incentives for governments to take in more migrants, but some regional leaders once invited and others boycott at the event. it's been
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a month since serene r barclay was shot by is really forces. while on assignment in jeanine, al jazeera media network continues to demand a rapid, independent, and transparent investigation into the killing of its journalists. in the occupied westbank, gunfights erupted between armed groups and libya's capital tripoli on friday. at least one person was reported have been killed. soldiers were deployed to the area and police helped civilians to take shelter. ukrainian officials have made another plea for heavy weapons from the west as the eastern city of savannah, and yet continues to come under russian fire. the crane military says there's no chance of holding on to the city without the delivery of arms that have been promised. the u. s. secretary of defense lloyd austin says china is increasingly engaged in what he called destabilizing military activity near time one. austin was speaking in singapore, at a meeting of security vessels, around the world. search teams of brazil have found what appeared to be human
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remains in a river. what an indigenous expert and a british journalist disappeared. bonaparte adam and don phillips went missing in the amazon rain forest. on sunday, bolivia is former interim president, jeanine and yes has been found guilty of mounting a coup in 2019. a court sentenced to 10 years in prison. the former president says she's innocent. and he is, continues in our da 0 after counting the cost. good bye to stand the differences and similarities of cultures across the world. so no matter what you see, how does it will bring you the needs and current affairs that matter to you? how does the europe ah, i
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hello nick loud. this is county the coast and al jazeera. you'll look at the world of business and economics this week. droughts, poverty, and conflict have left millions of people starving in africa. the continents food insecurity has been made worse by the worn ukraine. how can another hungry crisis be averted? also this week employment grew more than expected in the us, and the president says, the job market is robust, but tech companies have been laying off workers. so what's behind the mixed signals and you, billionaire was created every 30 hours over the last 2 years. well, millions of people have fallen into extreme poverty. now as inflation source could be inequality gap whitening even more. ah, 346000000 africans. that's more than a quarter of the continents, people a suffering hunger because of conflict, drought and poverty. now,
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a wall that's thousands of kilometers away is threatening to make africa's food insecurity. crisis worse. grain supplies are disrupted and the prices of staples and fuel a skyrocketing, the head of the african union, warns that risks a catastrophic scenario of food shorted his and his eyes, russia and the west to help ease the situation. cave and western capitals blame moscow for blocking ukraine's exports and triggering a supply shortage, hooting denies. the accusations, the russian foreign minister has guaranteed the safety. a grain shipments from ukraine if keep removes naval mines and western nations live that sanctions. ukraine says russia is demanding unreasonable conditions. the announcement came off to sag a lever of hell talks in turkey as part of a u. n. plan to get a deal in place between moscow and cave. more than 40 percent of africa's weight comes from russia and ukraine, and now the price is going up by 45 percent as
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a result of the supply disruption. the cost of fertilizer has increased to buy at least 300 percent. the african development bank says that could lead to a 20 percent decline in africa's food production. the organization has pledged more than $1500000000.00 to provide farmers with seeds and other 8 chide. landlocked country in west africa has recently declared a food emergency is the region self as its word, food crisis in a decade. and in the horn of africa the you and want more than 14000000 people are on the brink of starvation in an area experiencing its worst route in 40 years in somalia, more than 800000 people have left the countryside to seek help and comes having lost animals and crops, malcolm webb has this report. they went to abdullah, he bully, have children, died of hunger and thirst. he said he was left with no choice. he abandoned the
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only life he's ever known as a nomadic herder. he says he was caught between the armed group, asha bob and worsening drought. most of the carrots and cows perished. he told us he left the lost animals to die and walked with his surviving daughter for dosa, for 3 weeks to reach here. a camp displaced people in the port city of kiss, my in somalia. my wife lost her mind with grief that was after we were unable to get food for our children. the last i heard she tried to walk to market issue, but then i don't have the strength to look for her. i don't have shelter, i don't have anything to eat. i have nothing. have de la he in for dosa, have joined thousands of people already in this camp. many of them lost their animals in previous drowns and haven't been able to restock their heads. more than half of somalis depend on hurting livestock turn, dry scrub into mill can meet that people have survived on for thousands of years,
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but the drought becoming more frequent and worse. so the camps in cities like kiss maya grow bigger. many of the people here may never go back up to la him or her mood says he would never have dreamt of eating fish when he was a herder. then his sheep and goats were wiped out in a drought 5 years. again. he says he then struggled to survive in a camp and kiss maya until the un food and agriculture organization bought him a boat and trained him to fish. for this a big difference. as livestock keeper life is always about struggling with drought and trying to recover from it to fish in the ocean, you have to learn many things. the ocean itself is like a university. you need to study how it works, how the law, he spent years learning and says he can now get a good catch 5 days a week. tis the money he earns is enough to pay school fees for his children. the u
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. n said many more people could be helped in the same way that the crisis is also becoming i'm out of by my vision crisis and but it requires more did i bought a solution by supporting that usually takes. i was a huge petition where they can die, but the fight and improve their new nutrition. it's not clear how the millions of somalis in the countryside will survive in a warmer world. war won't, they'll eat what it may be, some on is 3000 kilometer coastline and it's fish can help malcolm web al jazeera kiss, my somalia. well, johnny is from cape town in south africa, is dr. peter turns jacobs. he's acting strategic lead in the inclusive economic development division, the human sciences research council dot jake, as welcome to the program. so talks to ease ukraine's grain supply. having achieved much, can that be a break through? do you think?
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well, at this stage, the big stay away will probably continue for a while. of this really concerns for us in africa across the continent, continues to be not only on the magic side, but more on the human side. because the human specially under put into security has been a big concern. and we do oh, cool. somewhat of a cool down for the likes of california. we've got wet and windy weather moving in once again to the pacific northwest. heavy rain running across the northern plains, we could see a risk of flash flooding or flooding. here by the time we get into monday, the worst of that pushes up into southern areas of british columbia in canada. but we are going to see things start to cool for places like san francisco and los angeles. much of a severe weather. however, on monday can be found rolling across the great lakes. we've got some severe storms here. they're going to work their way further east, but further south this will it remain. sorry,
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guys lose that again. we have seen the power quite severely on both sides. so on the decline of agricultural production capacity, obviously we've got a number of different factors that impacting on our ability to produce food. i think the 1st one is obviously the crime. i think about the bees, the so logical changes that are happening in that was be but the other big fact is playing a role socio political conflicts in certain parts of the region into the continent and really devastate the ability to distribute food and the food. good distribution production systems. i've also been impacted by all conflicts across the continent. so this combination of factors that we take into consideration and focus on when we look at the pool, right?
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so just just sparring back to the situation. ukraine at the moment, j. wester, accusing rush for a weapon, ising food supply, and clearly it's important that the food supply situation is resolved, as we've already discussed. but do you think that is the case that russia is, is using food as a weapon? well, i think it depends on how you look at it, whether you look at it from the west or you look at it from the side all countries . and i think this was supposedly inevitable given the changing nature of the war there. whether or not i think that is the goal of moscow or having as a, as the sale of the objectives. that's very, very difficult for us to do this because of the, of the conjugate. well, the african union chief maxwell,
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he's complained that sanctions have made it difficult to buy grains from russia. b as a point. his name is, but at the same time the conflict has had over events. indeed, on the human side and countries that are heavily impacted on what is referred to as a trade and aid, those are really affected by companies that are not affected by that might not be here. for example, if we read the parts of the continent, so typically denisia, egypt really is reliance on great imports on those countries that be the case. but there's been others all over events on export restrictions by countries. i've also got great productions capacity, especially b, b and countries in india for example, as we want to we don't, we, the all roles, severe restrictions,
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the food security situation of their own country and to deal with other emergency food situations that they might be. so i'm not sure whether it's only the, the warning, so i think that the ration. okay. and what about the ground aid is one thing, isn't it? but what can be done by governments on the ground intensive diversity, diversifying food, supplies like fisheries, and so forth. what are the long term solutions can be found within africa? well, the 1st would be to explore how carefully, what we infer today as a climate smart transiency, the address we're gonna change that me introduce and scaling out new ways of production, or diversifying the capacity to have private, smart, a puzzle, production techniques, or production techniques that are logically more sustainable as that would be a t investment or africa at the stage, but i think would be
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a long term fantasy generally will take and you know, 10 or more years for african begin to sale that are so in the shore and medium term i think we've got to explore a variety of different areas of social protection both. so some protection that will enable people to get access or add more indirect social protection goals will get access to food. if a logical transition of agriculture, you're much longer of a prospect, but i think the immediate areas of investment scaling are social protection and scaling up the for support or on the circus, or for agricultural duction, i guess we'll leave it there. thank you sir, for joining us said dr. jacob. speak to us from cape town, much of asia bigger. ah. now the health of the labor market in the world's largest economy is being watched closely as inflation raises fairs of an economic downturn. and the ceo of tesla has
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a dot outlook eula. mosque says he's got up super bad feeling about the economy and he's rapidly ordered a halt to hiring worldwide, plus a 10 percent cut in the company's salaried workforce. but then the world's richest man gave contradicting messages on the potential reductions, sending work as an investors are not roll a coast to ride. all this comes just days after his him ordered employees at both tesla and his rocket company space act to return to the office. or tesla currently has about 5000 job openings. advertised world wide and 100000 employees demand for its cars and other electric vehicles has remained strong so far. but the company's stock took a hit since a billionaire used as shares to finance of plant acquisition of twitter or mosques gloomy. our look echoes recent remarks from executives including j. p. morgan chase, c o. jamie diamond and golden sacks president john waldron, are the companies of also cut jobs or paused hiring american employers in the
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technology sector? they cut around 9 times more jobs in may than in the 1st 4 months of the year, while retail giants, including wal mart and amazon have said they hired to aggressively earlier in the year. but president joe biden says us it job numbers in may. are historically ro, boston are one of the signs of a healthy economy. us employers added 839-0000 jobs, extending a streak of hiring. the figure has beaten forecasts for a 325000 rise in new roles. but mays increase was the slowest for a year. the unemployment rate held at 3.6 percent for the 3rd month in a row. and nearly every large industry added workers. one major exception was retail when shed nearly 61000 positions and pay has been rising faster than it has in years. the average hourly wage rose to almost 32 dollars last month, up 5.2 percent compared to a year ago. however,
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pay growth slowed in may for 2nd month in a row. while john is now from london, is richard siegel. i rich, it's a research analyst with a london based financial institution, ambrosia capital, richard eagle, welcome to program. it. should people get worried when someone like ela must says he has a super bad feeling about the economy? you know, why don't we sense as he has an old here, emotive. i think we also always have to take it seriously. what a business leader such as him, has words about the economy which are on the outlying side. on the other hand, he does have a tendency to change his mind from time to time. so i think we should wait 2 or 3 months and see if he still has the same views as we and the summer and head into the autumn. but in addition, i think we should also listen to the views of some other business leaders who are looking at different parts of the economy and also have the pulse on it. some stretches of leaders of j. t morgan have the same views, but some have a much more sanguine view. sorry to jump into those changes of mind that you're
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talking about. are they kind of calculated? is he trying to influence markets by doing that? i don't know. he does have a tendency for doing this in the past. he does have a reputation of trying to be provocative. but whether that is what he has in mind about this particular item that i don't really have a strong view on. as far as tester is concerned, what is the situation that the demand for electric cars is still strong? isn't it? yes, it is very strong. and where the oil prices as high as they are and possibly going higher and staying volatile, they will only increase over time. partly because of pricing, partly be cause of government regulation, but also consumer preferences. but at the same time, it is always natural for large companies to pause and assess their hiring. hiring freezes, even in companies and industries. what you're doing well are not unheard of, but it would be quite a surprise if any kind of parts and production were to be long lasting. one of the
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advantages there test for has, has been an industry where the lead times are very long to go start to finish and building and electric car company is quite long. it's about 5 years. so there's a natural barrier to entry that a company such is tessa has with a very good brand name, which is difficult to compete against. so in that context, i'd be very optimistic about tesla long term, even if the short term is difficult to predict, right? there's a lot going on in global markets, isn't there, especially with mosque is concerned, his decision to freeze hiring and cut jobs and it seems a backtrack. that seems to be some sort of contradiction that yeah, i would agree about that. but again, i wouldn't worry too much into short term developments because that is always natural. it could be that he still facing some supply chain chain difficulties. and therefore job cuts could be a temporary reaction to that. but again, i'd be pretty optimistic about his industry long term. right. there are other
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employers, plenty of other employees. you're cutting back netflix pallets on cutting by hiring a retail job to take it to. yes. but those are different situations. with the example of netflix and pelettano in particular, they made a couple errors of judgment and strategy. they like many others assume that the shift and personal consumption from goods to services would be larger and more long lasting. and that expectation was reversed. ready fairly quickly, they were counting on too much growth, but at the same time, you can start to finish with a streaming company in 6 to 12 months, maybe even less as the technology is advancing so quickly. and the technology of an electric cycle is quite simple. the barriers to entry are very low, but at the same time where the retailer is such as target, it's another completely different situation where demand is holding pretty well.
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i'm not that worried about revenues, but they're being squeezed by. busy millions because of higher than expected input costs, but also higher wage costs. so with a company such as netflix or pelettano, i wouldn't be optimistic about them getting their formal revenue base. on the other hand, i think that a company such as target once the present headwinds had been worked through, i think they could recover their margins relatively quickly, meaning 6 to 12 months. what about the situation in the united states, latest jobs figures? president biden says the job market is robust. of course, it's always the job of a precedent to talk up the economy and particularly the job market, especially during an election year. however, on this, i would agree with having the jobs market is very healthy. what does worry me though, is that the labor force participation rate has to move back up to where it should, their justice and the supply of labor that will keep the economy going over the
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long term. it does actually self correct. those who are outside of the labor force typically are attempted in outside of the labor force for whatever reason. however, it's very difficult to predict how long this will take and if the matches in the correct industry will occur. and how quickly richard siegel from ambrosia capital. thank you. thank you. okay, the world's 10 rich's men of more than double the earnings since the global health crisis began. while the incomes of 909 percent of the world's population, a worse off the inequality gap is fair to get even wider as a cost of living source. but new analysis says taxing the world's richest people could raise at least $2.00 trillion dollars a year. that would be sufficient to live billions of people out of poverty and make enough vaccines for the whole world. organizations like fight inequality or lines the institute for policy studies and oxfam, they found at least 183000 households own
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a combined wealth of more than $36.00 trillion dollars. another report by the world inequality gap says the richest 10 percent of the well population owned, 76 percent of all wealth. a single person from the top 10 percent earns at least a $122000.00 on average per year. but an individual from the bottom half makes less than $4000.00. and while global inequality between countries have declined over the last 2 decades, income inequality has increased. within most countries, the average income gap between the top 10 percent and bottom 50 percent, has almost doubled. more than a $150.00 millionaires called on politicians and the world economic form in davos last month. to tax the more the group who are known as apache artic millionaires include the american actor mot roughly. and disney aris abigail disney campaign and
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say a multilateral agreement proposing companies pay at least 15 percent tax on earnings didn't go far enough. let's take this all we can speak now to don't suppose siegel . he's a reader in economics at king's college, london, and an economist researching global inequality and poverty. thanks for joining us. post eagle as inflation rise, is how much worse could this inequality got? get? well, the big problem inflation we're having at the moment is that it's specifically hitting good slide food, which are typically important for low income households. so that's why when inflation goes up, it's not, it's not even across the board and it's getting those on low income. so what we'd like to see is, any cost is probably rising as we speak of dr. essex and disproportionate increase in food prices and energy price. it also proceeds to inequality grains isn't surprising places in the, in japan, for example,
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a country where most people regard themselves as middle class at the got there is great. where else is it most pronounced? well, i mean, historically the most unequal region to be in latin america and sub saharan africa, that same as the unequal regions. but we'll see interesting, and the last couple of decades has been the progress america has made on inequality . and that really gives us important lessons for the rest of the world on how to tackle inequality. because what we've seen in love latin american countries has been rising. minimum wages increases in transfer to low income households. and also a lot of countries increase investment in education and over the kind of median for longer wrong. that's how a lot of countries in latin america have managed to reduce any quality really in a way that love. and this didn't happen at the time. and i think all countries can, can take heart for math, that if governments really want to back in the fall, if you, we have the tools to do it. right. so measures to, to read, distribute the wealth. we got these programs in japan as
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a matter fact and china can they work? well, absolutely. i mean for china sticky, interesting example because china and deal with any quality in or on a different way from other other countries. they have the common prosperity program at the moment and they've had a lot of interregional redistribution in the past as well. and they're much more if you'd like growth oriented, where they're focusing on investment and improve interest structure, particularly to help those regions of a country that have lower incomes. and china is actually been quite successful in, in slowing down any quality and then actually reducing it, not a lot, but somewhat in the last 15 years or so. and that through large amount of investment in productive capacity. and also administrative capacity in the core regions control the income go up in those regions and help them to catch up with the richer parts of the country essentially that we have this, this car. i just mentioned that that is cohort of people who got
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a great deal of money of 1000000 as you're asking for governments, the tax and more like a rough low and i b l. disney. is that realistic? and in fact, why don't government do that? well, it's certainly realistic, there's no reason to talk about the very rich people more. i think the reason why governments don't do that in practice is that, i mean, well, maybe some 1000000 as asking to be taxed more. i think there's probably more 1000000 as not to be more and crucially, and this is very important point here from the very richest people that we have billionaires who own large sections of media, as you will understand very well, and those 1000000000 as you own the tv stations and the newspapers, they very much don't want to be taxed more and they have a disproportionate political power within the political system and they can shake debates and they can they can very much influence public opinion on these matters. so those relatively small number of very wealthy individuals are able to move to debate and change in placement environment in a way that makes it much hard for governments to substantially increase taxes on
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the rich. alright, we'll leave that thanks very much to day for that. i don't suppose eagle speaking to us from london. thanks a lot. thank you. that is all show for this week. if you'd like to comment on anything, you see, you can tweak me at net clark al jobs, please use a hash tag, a j c to see what does drop a said e mail continent cost out to your dot net is our address. but as more people online at amazon dot com slash ctc, that will take you straight to our page, which has individual reports, links, an entire episode for you to catch up. that's it for this edition of counter the cost of nick lot from the whole team. actually joining us. the news on al jazeera is next. ah, i'll just, cirrus correspondence, bring you the latest developments on the war in ukraine. we had to take cover. this is what's happening on any basis, the medics, his a. he is incredibly lucky. those coming out after the lines of no,
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no man's land where one of the few to gain access to this embattled count. they take us to their basement, where we find others sheltering from the shelling these evacuation. now the basic 3 days journey devastated buildings are now a grim reminder that the russians were here. ah, [000:00:00;00] ah, al jazeera, with down to the pit. ah
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