tv Business Briefing BBC News March 7, 2018 5:30am-5:46am GMT
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this is business briefing. i'm sally bundock. let's ta ke let's take a look at what is leaving in business news... the white house's top economic advisor steps down just hours after president trump stands firm on imposing tariffs on steel and aluminium. and join us in our time machine as we take a closer look at the cars of the future, at the geneva motor show. and on the markets the departure of gary cohn from the white house have renewed fears that trumps tariff plans could be more than just bluster. why did gary cohn go? he's said to be unhappy about the president's proposed steel and aluminium tariffs
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and the consequences for the american economy — jobs and the threat of a trade war. kim gittleson is in new york. gary cohn has long said he opposed the trump administration tariffs which trump has defended this past week. he is known to support free trade. he worked at goldman sachs, he isa trade. he worked at goldman sachs, he is a democrat and supports pro—business policy and has clashed with president trump on a host of issues. the thing they agreed on was tax reform. beyond that not much. the president once more believed he wa nted the president once more believed he wanted these steel and aluminium ta riffs wanted these steel and aluminium tariffs to be instituted and it seemed a done deal that he would have to resign. so what is the latest on the transatlantic tit—for—tat over trade. well today the european commission meets to discuss its retaliatory plan after president trump said tariffs of 25% on steel
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and 10% on aluminium imports would be signed off this week. the commission has so far stated that its response would be fully compatible with world trade organisation rules. the eu has drawn up a target list of 100 us goods worth $3.5 billion many would have maximum political impact. among them the iconic us motorbike harley—davidson — made in wisconsin — home state to house of representatives speaker, paul ryan. paul ryan has been vocal about the fate he does not agree with these tariffs. and bourbon whiskey, made in kentucky, the state of senate majority leader mitch mcconnell. orangejuice is a key export for florida — a vital swing state in us elections. and there's the ultimate example
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of classic americana levis jeans a us firm that relied on europe for a 20%jump in sales last year. the row is already hitting business. electrolux, europe's largest appliances maker, is freezing a $250 million investment in a tennessee factory over fears trump's tariffs could dent its competitiveness. poppy carnell is chief trade correspondent at mlex in brussels. this sounds like it is ratcheting up and, of course, we will see if donald trump holds his promise. europe is already ready for its retaliation? absolutely. it does seem that the case that things are
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ramping up untilwe seem that the case that things are ramping up until we have that final decision from donald trump there are still some people here are hopeful that they can persuade him to back down. certainly the mood in brussels is that they are in preparation in assuming that donald trump will go ahead with the tariffs so lots of meetings between the eu commission and governments. looking at safeguard initiations. and governments. looking at safeguard initiationslj and governments. looking at safeguard initiations. i spoke to the eu trade commissioner on monday and she said they would work through with wto response rules but that can ta ke with wto response rules but that can take something like 1.5 years... the wt option is definitely this lowers. these cases can take a very long time which is why the eu wants measures 110w time which is why the eu wants measures now of least of products they can start imposing tariffs on.
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they have the eto option and the safeguard investigation and they have different timeline in terms of response. some looking at this would say the european union tariffs are higher than the us counterpart, looking at cars. some might see trump having a point? yes, that is indeed the case but, really, the issue here is the tariffs he is threatening on cars is in response to the eu response to his first ta riffs to the eu response to his first tariffs so you can see it is an escalation of tit—for—tat and it is the nature of the response which is the nature of the response which is the most important. are we on the brink of a trade war or is this
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president trump being a businessman and he has to be in a stronger position without imposing tariffs? he has sent to different messages. he's also including nafta negotiations within the discussion of tariffs so that canada and mexico may have exemptions. it is a little bit confusing about what exactly he wa nts to bit confusing about what exactly he wants to achieve with this response but, certainly, the cards seem to be on the table. let's not get too excited and say a trade is around the corner but there are some signs of that happening. thank you for your time. to geneva now, where the great and good of the auto industry are gathered for the annual motor show. our reporter theo leggett is there and he's taken some time off from meeting executives to discuss the big big issues of the day. instead, he's been looking into his crystal ball, to see what motoring might be like in years or decades to come:
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in geneva i am surrounded by hundreds of cars which are other on the market already awesome to go on sale. you get an indication of what manufacturers think will be driving inafew manufacturers think will be driving in a few years time so let's take a look into the future... here we are in the future and what do we have here? this little machine is a robot taxi because people will be living in cities and they will want to get around. come inside, and to take a seat because there is plenty of room in hit. you may notice there is no driver and this is the future. it is an electric, clean, green, and an alternative to buses or trams or
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other forms of public transport. don't complain about the driving. what about these? it looks like something out of a blade runner. as you will see in the moment, it has funky internal lighting, electric, self driving but at least it does have a steering wheel four when you really feel like taking control. and from an italian design house, this is basically a living room on wheels. they say this is not being planned for tomorrow at four the day after tomorrow — distant future idea — but as you can see lots of space, a bar over there and you can even lie down and have a sleep so that is what i going to do, good night. and if teacher we seek is not your thing, you can always come here to this stand we can find a new take on
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an old classic. lovely. ido i do not think you get a good nights sleep in a mini! now let's brief you some other business stories: a deal to take over disgraced harvey weinstein‘s production company has collapsed. it's the latest dramatic twist in the long—running saga over the future of the film studio which is on the brink of bankruptcy. just last week, an investment group gave the green light on creating an all—woman run studio. but they abandoned the venture for now. blackberry has filed a lawsuit in the us accusing facebook of copying features from blackberry messenger in a violation of its patent rights. blackberry, which was once a leader in the smartphone market, says facebook used the features and technology in its whatsapp and instagram apps. the claims come after blackberry has increased efforts to make money from its more than 40,000 patents. facebook has said it would fight the lawsuit. us planemaker boeing has snared a hawaiian airlines order of widebody long—haul jets from european rival airbus. pressure has been mounting on the two manufacturers to capture and maintain customers in
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the fiercely competitive industry. looking at the financial markets... the departure of gary cohn from the white house, seen as a man who bala nces white house, seen as a man who balances out trump's radical ideas has big investors to a degree in asia and japan. most market across the region are lower. i will see you ina the region are lower. i will see you in a moment. action‘s being ta ken against so—called "secondary ticketing" companies over what's being described as "misleading
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pricing information" on their websites. our business and consumer correspondent nina warhurst reports. the rolling stones are coming to town and i am keen to be there. the "secondary ticketing" site is reselling a ticket for £141 but when igoto reselling a ticket for £141 but when i go to pay this happens. £47 booking fee so at ticket which we thought was costing us £141 is now almost 200 quid. these nasty surprises are common. claire used to go and buy a ticket she thought it was less than £300. after fees, more than £1400 left my account. was less than £300. after fees, more than £1400 left my accountlj
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was less than £300. after fees, more than £1400 left my account. i ran my daughter crying thought i had done something wrong. when they realised i had not, that this whole practice was very deceptive. we contracted the company but did not get a reply. they did get her money back and, from today, new guidelines could see secondary sellers persecuted if they mislead consumers. we are saying they had to be much more clear and upfront about the prices we are paying when we buy tickets through their site and, paying when we buy tickets through theirsite and, in paying when we buy tickets through their site and, in a nutshell, we are saying the price we seek when we see it first should be the price was pay at the end. if you have forked out these to sit muhamed besic and the gang, you can appeal them and next time they're on tour, the ticket price you see should be the one you get. this is the briefing from bbc news.
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the latest headlines: donald trump's top economic advisor has resigned — it's understood gary cohn disagrees with the president about his plan to impose steep tariffs on steel and aluminium imports. mr trump has also welcomed the possibility of a global trade war. it is the latest in a series of high profile departures from the white house. biopsy was used to assassinate the heart rather of kim jong—un, biopsy was used to assassinate the heart rather of kimjong—un, kim jong—nam kimjong—nam heart rather of kimjong—un, kim jong—nam kim jong—nam according heart rather of kimjong—un, kim jong—nam kimjong—nam according to the state department. british chemical experts are working to identify the substance blamed for poisoning of former russian spy and his daughter. russia has accused the media of trying to demonise russian. the uk has called russia a line
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force. now it is time look at the stories that are making the headlines in media across the world. we begin with the washington post and the departure of president donald trump's top economic advisor gary cohn who has resigned — it's believed mr cohn disagreed with the president over his plan to impose steep tariffs on steel and aluminium imports. the telegraph leads with this espionage story currently gripping the uk. the paper alleges russian president vladimir putin vowed to kill the russian double agent, sergei skripal, who was poisoned along side his daughter. they are both critically ill in hospital now. the arab news looks ahead to crown prince mohammed bin salman‘s three—day visit to britain. the controversial saudi prince will have lunch with the queen
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and hold talks with prime minister theresa may. in the ft, brussels and paris are due to publicly rebuff theresa may's proposals to maintain the city of london's access to the eu single market. the paper says european council president donald tusk is likely to offer a more orthodox trade agreement, as used in its pact with canada. and finally, on the mashable website, as well as many others, for international women's day, barbie is honouring accomplished real life role models with their very own dolls. from aviator amelia earhart to usa 0lympic snowboarder chloe kim, barbie has created 17 dolls inspired by impactful women from different backgrounds and occupational fields. you said you would nominate your mother.
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