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tv   BBC Business Live  BBC News  September 10, 2018 8:30am-9:01am BST

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this is business live from bbc news with sally bundock and ben thompson. another week, another dispute — us trade representative robert lighthizer is in brussels for talks with european union trade chief cecilia malmstrom. live from london, that's our top story on monday, 10th september. can the eu and the us negotiators mend the on—going trade dispute between the two countries? and aliba ba has announced the successor to its charismatic leaderjack ma — we are live to the region to find out. and a mixed beginning for the european trading day but all the markets seem pretty flat and looking
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for direction. and it's a multi—million dollar market — but do travel firms really understand lgbt travellers? we'll get the inside track on tailor made travel — without the discrimination. and will the four—day working week ever take off? here in the uk the leader of the tuc is going to call forjust that and with more pay — all thanks to advances in technology. so, today we want to know — what would improve your work—life balance? let us know — just use the hashtag bbcbizlive hello and welcome to business live. already packed show. we start with trade again. later today, high level trade talks between the european union and the united states take place in brussels — with the aim of resolving the on—going trade dispute. us trade representative robert lighthizer will meet eu trade chief
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cecilia malmstrom to discuss how to build closer trading ties. but how did this dispute begin? in march, the trump administration hit the eu with increased import tariffs — which included 25% on steel and 10% on aluminium. the eu retaliated by increasing tariffs on $3.1 billion worth of us products, such as bourbon whiskey and motorcycles. however president trump and european commission president jean—claude juncker agreed to a trade truce injuly — which included the us not implementing its threat of raising tariffs on european cars. however disagreements remain. the eu wants to scrap car tariffs permanently as part of the trade deal — a proposal that trump rejects. in response the us has pushed for agriculture to be
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included in negotiations, which is a no—go for brussels so far. aline doussin is with me now, she's a partner at hogan lovells. so sally talking to some of things at stake but how important is this relationship for both sides? extremely poor, the transatlantic trade relationship is important for trade relationship is important for trade but also as a political strategy and this is a very important meeting happening today because in the past year we've had a strange relationship between these major trading partners and political allies. so of course all eyes are on what will be discussed today, this isa what will be discussed today, this is a high—level political dialogue,
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and work will come next but we are cautiously optimistic that something will come from this discussion in terms of how to make things better for the eu — us trade relationship. it seems at the moment but there are outlined in the sand that both sides are not prepared to compromise on. the eu wants car tariffs to be scrapped and for the us it could be agriculture. hard to see that they could come to any middle ground. agriculture. hard to see that they could come to any middle groundm will be difficult, the car tariff proposals from the eu is on a reciprocal basis so the eu wants the us also to dominate tariffs on the same products. but the eu is saying is we do not want the transatlantic trade and investment partnership but something more sectoral. and issues are not as controversial as what we've seen. agriculture for sure is very politically sensitive for the
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eu commission and the member states and the eu do not want to go there. for the us of course it is a major trading issue for them to include this in the talks. so the scrapping of the exercise is still very much on the table. that is what i wanted to ask, how likely this is to be successful because much of it is about politics rather than economics oi’ about politics rather than economics or what is best for world trade.|j think both partners will have their best interests at stake of course in the discussion today. worth bearing in mind that it is not negotiation so in mind that it is not negotiation so the eu commission has no mandate to negotiate and we'll have to seek that from the member states to agree on anything with the us. i think coming from today what we want to see is just positivity in terms of how to move things forward and concrete action. injuly we had a
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political declaration with not many figures or numbers and we want something more from the meeting today. and we will see whether we get that later. thank you very much. let's take a look at some of the other stories making the news . japan's economy grew much faster than expected in the second quarter of the year, growing by 35 in the three months between april and june. that suggests a quick turnaround for the japanese economy that shrank in the previous quarter — after eight consecutive quarters of growth. the head of us media giant cbs, les moonves, has resigned with immediate effect after allegations of sexual misconduct. cbs had been investigating mr moonves since allegations appeared in the new yorker injuly — and fresh accusations from six more women appeared on sunday. mr moonves has denied the allegations.
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and car maker geely has delayed the stock market listing of volvo because of concerns over the on—going trade war between the united states and china. geely had planned to list the carmaker this year, but it now feels volvo would be undervalued, and says it will re—visit the plan when trade tensions ease. people want to know when that will be. and also questions about the future for the chinese giant alibaba. jack ma, the boss of chinese e—commerce giant alibaba, is to step down next year. mr ma, one of china's richest men, will hand over the reins. monica miller is following the story from our asia business hub in singapore. and the winner is daniel zhang,
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currently chief executive at the company and he has been there for around 11 years and helped it to grow from a successful e—commerce site but now it is an entertainment hub and also additional payment service. well mr ma is one of the richest men in china are worth $6 billion and table remain as director of the board until 2020. the online giant is one of the most valuable companies in the world. last month —— last march they recorded revenue of $40 billion. mr ma on his 54th birthday explained his exit strategy ina birthday explained his exit strategy in a letter and said that the world is big and i'm still young so i want to try new things. he was previously an english teacher, he likes to perform, he performed in fact as
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michaeljackson in front of his employees last year. so he is going to go back to education and focus as well on his beloved tropical africa. i like that line, the world is big and i'm still young. a mixed picture today in asia, japan bucking the trend but most markets lower. tokyo getting away with it but elsewhere heavy losses mainly because of concerns about the ratcheting up of the rhetoric going on between us and about trade tariffs. let's look at europe quickly, a mixed picture in terms of corporate stories today. markets are flat, and slightly down. but debenhams the high street retailer in the uk a big loser, shares down i7%. it has been in contact with kpmg to get advice on its options. but a big winner is the
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luxury watch brand and fashion house richemont. let's take a look at wall street. and kim gittleson has the details of what's ahead on wall street today. this week promises to be a busy one for investors, with the launch of apple's new iphone set for wednesday, as well as a slew of economic data that will give us a better sense about how everything from american retailers to manufacturers are doing. in particular, circle thursday on your calendars. that's when the latest inflation data will be released. now, after us wages grew at their strongest rate in nearly a decade, investors will be curious to see what prices did in august. anything that suggests that inflation is picking up here in the united states could send jitters through wall street. that's because a higher than expected inflation rating could force the federal reserve to increase the rate at which it raises its target interest rates.
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that could set the central bank on a collision course with president donald trump, who has already come out and said multiple times that he does not approve of the federal reserve's decision to increase interest rates, and potentially slow down us economic activity. joining us now gervais williams, who's the senior executive director, miton group. adding badge asia and you're watching china, what is happening? have seen the stagnation of world growth and quantitive easing is now implicated. that is now being phased out and we are beginning to see liquidity drying up in the markets. that has affected some emerging markets and we think china will be affected soon as well put up what you there is a significant slowdown in china, because we have been watching that for many years and
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waiting for a hard landing? the banks themselves in china are struggling and not finding it easier to get funding because financial liquidity has been driven to the us where growth is strong. and chinese authorities have an inflation problem and they are worried about using too much because the last time we had that problem it ended in the chinaman square protests. we've seen liquidity problems in emerging markets. is there an end in sight for this or is itjust all the money is heading to the us? liquidity is normalising, for the past ten years it has been so easy that we have got used to that. so this is the new normal and get used to it and especially in china there are also seeing a downturn and i think they will see that coming through shortly. adding in a layer of the trade dispute as well? the trade
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dispute will add further complications, already it is leading to goods likely to be slowing in terms of order is going forward and may lead to some extra inflation long term which could lead to stagflation. still to come we take a look at tailor made luxury travel — for the lg bt market. stay tuned for that. you're with business live from bbc news. how do you fancy working a four—day week for more pay? that sounds good. well, that's what the tuc is calling for.
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yes, general secretary — frances 0'grady will tell its conference later that advances in new technology could be for the benefit of everyone — not just big bosses and shareholders. lynn collins is a regional officerfor the tuc, she joins us now from manchester. good morning. you're at the conference. just tell us more about this speech coming later from france's 0'grady. many people think that it sounds great but will it ever be a reality? well today we look forward to the future and trade unions have always been about getting people work to share the benefits. if we introduce technologies that increased productivity we're saying that should be shared and one way to do thatis should be shared and one way to do that is to think about both issues
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of work and life balance that trade unions have always fought for over the years. always argued that the balance should be right between work and life and this is just the next step journey of and life and this is just the next stepjourney of arguing and life and this is just the next step journey of arguing that the benefits of technology should be given in part to the workers. but we talk about the productivity problem in the uk that we are all working long hours and not doing maybe as much as we should all did in the past. would a four—day week improve that or just past. would a four—day week improve that orjust make it worse? there has been some examples of this where companies have piloted this in uk and abroad and they found that productivity remains the same or even increases. if you reduce the amount of time people are required to be at work. we live in a world where people are entering e—mail, they're on their phone on the way to work, work has spilled over into life so by setting these boundaries i think it gives workers focus when
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they are at work. and employers have saved the same when they have done a pilot on this. more on that later. jamie oliver has done a deal with tesco, trying to get the nation eating more healthily. more news on that on the website. you're watching business live — our top story. another week, another dispute — us trade representative robert lighthizer is in brussels for talks with european union trade chief cecilia malmstrom. but will they make any progress? of course we need to find out exactly what both sides want. a quick look at how the markets are faring. london is down and a similar picture across europe. there is the liquidity problem around the world
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and a flight of money right now to the united states. now — when you check into a hotel — do you ever consider what the staff might think of you? do they make assumptions about who you are, or why you're there? mostly, it's not a problem. but for lgbt travellers— that could — at best, mean an awkward conversation about sharing a double room, or at worst, being asked to leave the hotel entirely. but lgbt travellers represent 8% of the 2.5 trillion dollar global tourism industry, that's 200 billion dollars, despite officially accounting forjust 2.6% of the poplulation. so — it's big business. and for firms who want to actively attract lgbt travellers — it's a great opportunity. but, all too often travel companies and hotels see the word "couple" to mean only a heterosexual pairing. and so — after facing discrimination himself, our next guest founded the lgbt travel agency, 0ut—of—0ffice, specialising in finding gay
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inclusive holiday destinations and accommodation around the world. darren burn is with us now, he's the founder of out of office. nice to see you. we should start at the beginning and you had a very different career in a past life and then you set up this travel agency. what was the reason for doing so?|j was what was the reason for doing so?” was a journalist before and i had a bad experience travelling myself, we went to egypt and myself and my partner were refused entry to a hotel and i just bought partner were refused entry to a hotel and ijust bought there is a huge problem that needs addressing ina huge problem that needs addressing in a sensible way because no one had properly looked at the lgbt market especially in the luxury sphere. i guess i wanted a challenge and still in so many countries it is illegal to be gay but india last week
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decriminalised homosexuality, great news but still many countries it is illegal to be gay and we have a job to do until that is no longer the case worldwide. there is an issue of coursework criminality, the india decision very welcome and clearly opening up india toward travellers but even in countries where it is not illegal you could potentially face discrimination checking into a hotel. some areas in the united states for example. that is correct and we make sure that you will get a double bed in all the hotels that we check, we actually ask hotels how they train their staff and make sure when a gay or lesbian couple checking that they will be welcome and have no issues. some of the numbers speak for themselves that we outlined in the introduction. the potential of this market is massive. you saw that straightaway when you launched, and just three months in you had a huge surge in demand for
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what you are providing. how did you respond to that, did you anticipate that? we did not anticipate that and actually we had to fire fight to servers that demand. £6 billion in the uk market alone is what it is worth about 2.6% of the population is very conservative. most estimates between eight and 10% because of the people who have not yet identified as lgbt on a survey or sensors. on a practical level tall grass through how hotels can be gay friendly. it is one thing to say we have no problem but a different thing if it is about actively being welcoming and accepting and just very small things on a day—to—day basis could make a big difference? you have to practice what you preach and i also asked abbie got an image of the same sex couple in your hotel and most do not. so just basic things,
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sex couple in your hotel and most do not. sojust basic things, making sure staff are trained and lgbt employees are also empowered and showcasing what they do in their day—to—day job. because showcasing what they do in their day—to—dayjob. because then it is ofa day—to—dayjob. because then it is of a much more authentic message and certainly i would benefit from going toa certainly i would benefit from going to a place that has that inclusion. how much prejudice do you come across, is it getting better?m how much prejudice do you come across, is it getting better? it is getting better but places like the maldives where it is illegal to be 93v, maldives where it is illegal to be gay, they offer honeyman benefits to same sex couples which is unusual. there are still a long way to go. lovely to see you, we could talk about this a lot more but congratulations on getting so far and that big upswing in business. let's see what other stories are being talked about on social media. jamie oliver teaming up with tesco.
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and debenhams in trouble. shares down 20% this morning. it has been tough in the uk of late on the high street and concerns over the future of big high—street stores. bodyguard isa of big high—street stores. bodyguard is a top tv show at the moment, i will not spoil it if you have not seen will not spoil it if you have not seen it yet. we're also talking about reducing elastic waist and the businesses helping to reduce that doing pretty well. —— reducing plastic waste. here is how to stay in touch. there's insight and analysis from right around the globe. and we want
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to hear from you. right around the globe. and we want to hearfrom you. get right around the globe. and we want to hear from you. get involved right around the globe. and we want to hearfrom you. get involved on the business website or on twitter. you can find us on facebook. what you need to know when you need to know. many of you have been in touch about a four—day week. gervais williams is joining us again to discuss. but another story, the boss ofjohn lewis saying he's not for the so—called amazon tax but he says that high—street retailers need to up that high—street retailers need to up their game. that is true, we can all make choices as individual consumers as to all make choices as individual consumers 3s to where we all make choices as individual consumers as to where we go. if we feel certain companies are not paying enough tax then we can avoid them and high—street itself has the chance to deliver a product
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straightaway without waiting. so we need both types of retailers. and an interesting perspective on this because you would imagine someone that has to pay all those overheads, the rent and the rapes and all the staff and show rooms would think that amazon would get an unfair deal. but he says taxing amazon is not the answer. the retail sector is under pressure and extra tax is not what they're looking for a they want the ability to compete and especially compete more effectively in bricks and mortar rather than just online. and your take on the tuc speech take place later today, their conferences on going and they will suggest the in the future with the advance of technology but we should work fewer days but for more money? we've been on this trend for many years. productivity has improved in the past 100 years so we have the weekend and shorter working
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hours but in the past ten years productivity around the world has been stagnating and this is a difficult time to think about reducing work time. ultimately we need to become more productive and thatis need to become more productive and that is about investment. pat has tweeted in with a very good point think this is what we were told and promised that technology would reduce how much we had to work whereas we're having longer hours and lives controlled by technology. colin says investors in companies are shareholders, it is their company and not down to the union to say where payments are made. if they wa nt to say where payments are made. if they want to say they should become shareholders. where all now shareholders. where all now shareholders and involved in a pension one way or another so the effect is this of the corporate sector has led to that. thank you very much. have a lovely day. it has been a relatively mild start
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today but we have a lot of ploughed across the uk at the moment and that is streaming in from the atlantic for the quite a busy atlantic at the moment, you can see this mass of cloud streaming in from a westerly direction. a bit of sunshine in the north—east of scotland and some sunshine merrily across southern areas of england and particularly the south—east. feeling quite warm again. further north and west some showers in northern ireland, and to the north and west of scotland. but for most it is dry. getting up to the 20s in the south but otherwise around 15, 19 degrees. tonight more significant rain moving into scotla nd significant rain moving into scotland and northern england and across wales and the midlands. with all that cloud and outbreaks of rain it is quite mild night with
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temperatures staying in double figures. but all that cloud in the atla ntic figures. but all that cloud in the atlantic is from this weather front a long way back in the atlantic, streaming across the uk. it is a cold and that generally means to the north of that we have cooler and fresh airand to north of that we have cooler and fresh air and to the south of that still relatively mild or warmer air. so on tuesday still quite warm in the south—east, some rain moving into the south—east but temperatures again getting up into the 20s. behind that area it is a bit fresher with temperatures around 15 degrees. soa with temperatures around 15 degrees. so a cooler day compared to today. but further south we keep hold of the warmer weather. still some uncertainty about where the brain will be positioned on wednesday. some outbreaks of rain likely across southern areas of times and feeling fresher. further north again some
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bright skies and sunshine and feeling cool. from wednesday to thursday the weather front will eventually clear away from the far south—east of england and will be pushing away the warmer air with it. we continue to have showers across parts of scotland but for most feeling called by the end of the week with rain at times as well. goodbye. hello, it's monday, it's 9 o'clock, i'm victoria derbyshire. welcome to the programme male fertility problems are now the most common reason for couples seeking ivf treatment in the uk. yet we can reveal that the system is failing men, and one expert exclusively tells us, astonishingly, women are being offered ivf in order to treat male infertility. it's now quite urgent that we look at the problem. men are not being looked after properly, not diagnosed and not cared for. today we hearfrom men who've never spoken before about their infertility — because of the shame and stigma. when we found out about it,
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i was very angry for a long time. i went mad with money, didn't i? my performance at work deteriorated quite significantly. to the point that i lost myjob late last year.
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