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tv   Business Briefing  BBC News  November 10, 2017 5:30am-5:46am GMT

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this is business briefing. i'm sally bundock. the headlines: under pressure. round 6 of brexit talks end today, amid warnings britain hasjust two weeks to break the deadlock. plus — it was all sewn up, now a $29 trillion trade deal lies in tatters. but is there life after trump for the trans pacific partnership? and on the markets: a mixed day emerging across the board in asia, following a downbeat day on wall street the night we start in brussels, where eu and uk negotiators are about to wrap up the sixth round of brexit talks. eu sources have told the bbc that britain has as little as two weeks to make progress on deadlocked
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issues, particularly the so called divorce bill, if its to move on to trade talks at the eu summit in december. meanwhile, former uk prime minister gordon brown has warned that the uk may hit a "crisis point next summer" as the uk edges closer to brexit without a deal and held out the possibility that the uk may not leave the eu. i think what's going to happen is we are going to come to a crisis point next summer and i can't tell you exactly how it is going to work itself out but this is what will happen. by next summer the public will have made up their mind that the four red line is that the government had actually set in place are not going to be achievable. so we will not have proper control of borders, we will not have proper control of our money, we will not have proper control of our courts and law because we will still be
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governed in many ways by the european court of justice governed in many ways by the european court ofjustice and we won't have individual trade and agreements for years. so all the propositions made by the leave camp, including 350 million a week from the national health service, they aren't being achieved. so we need to assess the position and in my view you can't go back to the electorate and say, you were wrong. you can't do that. people have made their decision and it is —— right for that to happen. but is there a game changer? is there something we didn't get right last time that would persuade millions of leave voters to think it was worth going for remain? with me is dr elaine fahey, from city law school. good morning. what do you make of what he had to say, the possibility ofa game what he had to say, the possibility of a game changer, the possibility
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of a game changer, the possibility of the uk remaining? there are lots of the uk remaining? there are lots of legal possibilities to extend the negotiation period for the uk to withdraw its notification. all of these things are possible. from a short—term perspective a huge question about how to manage this gap in the phase we are now and to move onwards to face the negotiation. the eu is putting pressure on the uk, saying we have two weeks to get to the next steps we can discuss trade. but the problem is the real sticking point, the question of northern ireland, the question of northern ireland, the divorce bill, it seems to be very little movement on those or agreement on those. there are still huge stumbling blocks to do with any of these questions. the european parliament has just writ —— rejected the latest issues regarding human rights. the customs issues have come to the table. they say we must stay
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within the union for that. at every stage there are enormous gaps to be bridged, so it remains a difficult question, how to get out of this stage. the eu say... how did they freighted? stage. the eu say... how did they freighted ? they want stage. the eu say... how did they freighted? they want to see a certain amount of progress? sufficient progress. how do you define sufficient progress? it is an interpretation of the law in many ways. it is unambiguous idea as to what the law is. it is hard to see how to get out of the situation without having the political determination. do you hope that in two weeks we will be able to discuss trade? i think it will be very difficult to meet that test, given the fact that the customs union has 150 areas between ireland and the uk, between citizens rights, about 750 treaties between the eu and uk. thank you very much for your time.
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of course we should keep a close eye on those talks and we will let you know of any progress made or otherwise. let's focus on rage of —— asia. president trump is continuing his tour. he hasjust landed in vietnam for the summit. the us president sent shock waves around the region when he pulled out of a massive trade deal, the newly announced tra ns—pacific partnership. 0ther announced tra ns—pacific partnership. other countries involved are now trying to salvage that deal. let's show you some detail, including the us —— show you some detail, including the us -- that show you some detail, including the us —— that the us would have been worth about 38% of world gdp, according to research. without us involvement you can cut back to $10 trillion, orjust13.5% of the world economy. the us retreat from the deal is also providing a big
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opportunity for china and the dilemma for smaller countries, like vietnam. 0ur correspondent has been finding out. vietnam is one of the world's biggest garment exporters. and you can see why at this factory in ho chi minh city, which produces everything from men's suits the women's coats. every single day. some of america's best—known brands are made here under the watchful eye of michael. the us is still his biggest customer, despite it pulling out of the dpp. but that could change. we are starting to see many enquiries from some of china's largest garment producers as well as fabric producers and we see that as being a very profitable business. china is already a major customer for vietnam's against coffee exporter and grains provide. it sells rice to china, but also exports to the us. the chairman says
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vietnam needs to balance these competing interests. the us and china are both powerful countries, but they are also locked in conflict. they both want to drag vietnam to their side and vietnam should take advantage of that. member vietnam's economy is still pretty basic. it's about supplying raw materials and produce to market elsewhere and labour—intensive manufacturing. that's why this is so important. if the original u.s.—led tbb deal had gone through it would have boosted vietnam's economy by about 10% over the next couple of decades and that would have lifted the impacts on people here. that's why it is on the agenda of the summit, held here. both vietnam and china have clashed over the waters, but the us‘s lack of engagement means hanoi may have the edge closer to beijing. now let's brief you some other business stories. walt disney has seen annual profits
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fall for the first time since 2009, amid growing competition from streaming services like netflix. shares though rallied after it announced a deal to make three new star wars movies. the ceo refused to comment on reports it has held talks on a partial takeover of twenty first century fox, but did not rule out making an acquisition. us interest rates are likely to rise again next month and a further three times next year, according to one of the federal reserve's rate—setters. john williams, who sits on the fed's 0pen markets committee, said a rate rise in december "makes sense, at least based on the information i have today". one of the founders of facebook, sean parker, has unloaded worries and criticisms of the network at a technology industry event, saying he had no idea what he was doing at the time of its creation. he described the thought process behind social media applications as: "how do we consume as much of your time and conscious
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attention as possible? god only knows what it's doing to our children's brains." and now — what's trending in the business news this morning? that is our conversation today. what do you think about what sean parker had to say? looking at what is trending, the courts and social media are discussing a new star wars trilogy. quartz says disneyjust performed an old jedi mind trick on wall street, distracting investors from falling profits. from the business insider, dubai has tested an autonomous flying taxi drone, which they hope could be the future of passenger travel. and this is a really shocking story highlighted by the financial times
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and this is trending. indian city locks up its beggars ahead of ivanka trump visit. authorities in hyderabad have taken hundreds of people off the street for causing "annoyance and awkwardness". and don't forget, let's us know what you are spotting online. use the hashtag bbc—the—briefing. looking at the markets, this time yesterday we had strong gains across the board in asia, especiallyjapan. it was at a 25 year high at one point. markets have come down little bit. japanjust point. markets have come down little bit. japan just over 1%. there point. markets have come down little bit. japanjust over 1%. there is talk of concern about the tax changes in the us. they may not be as robust as trump has promised. see you soon for the news briefing. we will discuss stories in the media
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ina we will discuss stories in the media in a moment. first, a study has indicated that women who have had the hpv vaccine meat have only three smear tests during their life, rather than the 12 currently offered. the findings from cancer research uk have been released as changes are due to be made to screening programmes for cervical cancer, one of the most preventable forms of the disease. cervical cancer is a dangerous disease and it is also one of the most preventable cancers, but there's been concern about a steady drop in the number of women going for screening in the past few years. currently women aged 25 to 49 are offered smear test every four years and then every five years from the age of 50 two 64, but for almost a decade girls aged 11 to 15 have been given a vaccine against the cancer—causing virus hpv. today's study published in international of
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cancer is the vaccine reduces the chance of cancer by 70% and women who have had it only need to undergo three smear tests during their lives, instead of the normal 12. at the age of 30, 40 and 50 five. all cervical cancers are links to hpv infection and having the vaccination dramatically reduces the chances of having the infection and also having cervical cancer. screening looks for early changes that could suggest cancer is developing and quite simply having the vaccine means you are simply having the vaccine means you a re less simply having the vaccine means you are less likely to have those changes and less likely to develop cancer, so you don't need screaming quite so often —— screening. cancer, so you don't need screaming quite so often -- screening. the study comes ahead of changes to the screening programme in england for 2019 and similar adjustment in scotla nd 2019 and similar adjustment in scotland and wales. new, more advanced lab testing is expected to be introduced, which could mean fewer smear tests for all women, whether vaccinated or not. a lot more on that story and the
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other news, business and sport at six a.m.. that's breakfast, with charlie stayt and naga munchetty. this is the briefing from bbc news. the latest headlines: donald trump has arrived in vietnam for the annual apec summit, where he's expected to spell out his vision for global trade. french president emmanuel macron is in saudi arabia on an unscheduled visit. he says he will emphasise the importance of stability in lebanon in his talks with saudi leaders. the former speaker of the catalan parliament has been taken into custody in madrid after the spanish supreme court ruled that bail conditions must to be met before she is released. lots of stories on the app today. this is a feature by our environment
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a nalyst looks this is a feature by our environment analyst looks at the car industry in the us, which could be in trouble if emissions standards are scrapped by donald trump, according to california's umunna. —— governor. now it is time look at the stories that are making the headlines in media across the world. we begin with an online article from associated press. the news agency has conducted its own investigation and claims to have found evidence of disguised russian agents on twitter who deflected ‘scandalous' news about donald trump before last yea r‘s presidential election. russian cyber meddling also comes up in thejapan times. this piece focusing on nato members agreeing to increase cyber—weaponry to help protect europe, as the threat from russia grows. the times publishes those extraordinary comments from the facebook‘s founding president, sean parker describes facebook as a tool "exploiting a vulnerability in human psychology". he also says "god only knows
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what it's doing to our children's brains." flipping over to the guardian and its coverage of the brexit talks. this article looks at the eurozone economy in its best shape for a decade, while the uk is weaker than what was expected six months ago. in the financial times, a big spread under the headline "children make up a quarter of people identified as potential extremists' with most —— a quarter of people identified as potential extremists" with most referrals coming from schools and colleges. and finally on the the times front page, kevin spacey pictured in character in what was supposed to be his latest film, but six weeks out from release

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