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tv   Business Briefing  BBC News  April 9, 2019 5:30am-5:46am BST

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in order to form a governing coalition. security is a major issue but there has been much debate about how to achieve a lasting peace with the palestinians. no no no encouraging trade talks — china and europe meet in brussels in brussels later to discuss how to increase their multi—billion dollar financial relationship america proposes fresh sanctions on european wine and cheese — over airbus subsidies the us says has cost its economy $11bn i and on the markets asian shares have had a bit of a negative tuesday.lots of key events for investors to get their heads round. the u.s. and of course that crucial brexit summit tomorrow and then of course broader concerns over slowing global trade tensions around the world are becoming a drag on global growth. so when the eu and china meet in a few hours' time — there will be hopes for closer economic ties. and the sums involved are substantial. they're two of the world's biggest trading partners — averaging over $1.1 billion in commerce a day. this covers anything from industrial and consumer goods to clothing, cars and chemicals.
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the eu is keen to go further by negotiating an investment treaty with china. but europe is concerned about what it sees as china's lack of transparency, industrial practises that discriminate against foreign companies and a lack of respect for intellectual property rights. now you may have heard of the belt and road initiative — a multi—billion dollar economic plan to promote chinese trade by making the country more connected across asia and europe by land and sea. in fact, investment could be as much as $1.3 trillion by 2027. the european commission criticised italy after it aligned itself with the project. anahita thoms is head of international trade practice, baker mckenzie. how likely eu will get what it needs
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from china? the eu is china's largest trading partner so it's in their interest to get a compromise however this being said, ido get a compromise however this being said, i do not think that today we will get binding political commitments, rather a continuation of good talks than anything else. do you think there's been a bit of a lack of co—ordination within the eu? some saying that there is issue with france taking a bit of a hard on line on china and others taking a softer approach. sure. ithink if you are dealing with a global player like china, what you need is full unity, full unity at the eu level, full unity on eu member states and what we have seen so far is not full unity. what we need is from an
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economic perspective, agreement but also when it comes to expectation with regards to transparency as well as challenges with governments and national security. and those issues like security, really the conversation is more about economics. that is where things get confused. these challenges we seen all kinds of trade and investment negotiations, it always is a kind of mix. national security interest is a big challenge. we have been seeing that very clearly in the foreign investment screening tool. it's a big concern of the european union and has to be addressed. meanwhile trade tensions
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between america and europe could escalate after the us posted a list of possible eu products that could be hit with sanctions. the dispute revolves around subsidies given to airbus by europe that america says has cost its economy over $11bn. legal proceedings between aerospace giants boeing and airbus have been going on for over a decade. ramzan karmali our business reporterjoins me now. what exactly is the us proposing to do and why? they made a wide—ranging wish —— list, anywhere from cheese to motorbikes. this has all to do with oui’ motorbikes. this has all to do with our bus and boeing. what they are saying is, our bus is unfairly benefiting from the european union. that damages the us by over $11 billion. only last month, washington
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was told by the wto, you haven't stopped giving tax breaks to boeing. they both at it, really. this latest move will ramp up the tension between both the us and the eu. we shouldn't forget that these tariffs, when they do come into play, which is likely to be summer, they will be on top of the steel and aluminium tariffs. this has been going on from a while. around 15 years ago, us made its first complaint to the wto about the subsidies that our bus was receiving. eu retaliated. this dispute came to the head and crescendoed into thousand and ten, 2011 when the wto found that both of
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them were receiving billions in assistance unfairly. but the big surprise here is that the us and from, he's been a bit of a critic in the way it's giving subsidies to our bus. australian casino giant crown has seen it's shares soar today — after news of a takeover offer. let's go to our asia business hub where shara njit leyl is following the story. who is betting on crown? it is wynn resorts. in those shares are soaring. there are worlds second—largest casino firm and are just over $7 billion, the proposal for crown would be the second biggest deal of 2019. crown has not
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said if it is considering but what's interesting about the deal is that both companies on the rebound after break ups their billionaire bosses. steve wynn and james packer. james packer stepped down in a remarkable retreat, what from what he said were mental health issues. he remains a significant shareholder. his family have been a fixture for corporate australia for more than half a century. steve wynn sold his stake in the company after stepping down as chairman and chief executive in the way of allegations of decades of sexual misconduct. macro —— wynn resorts is moving ahead, despite a downturn in spending which had been limiting crown's revenue. in fact, crown has had to scale back its asian expansions where it in fact
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competed. we will be watching this big deal. i'm sure you will be. now let's brief you on some other business stories. the embattled former nissan boss will be featured during a press conference in the next couple of hours. carlos ghosn‘s lawyers will speak to the press and play a message he recorded before he was re—arrested last week. mr ghosn had promised to "tell the truth" about allegations of financial misconduct against him. he denies all charges. british shoppers cut back spending for the first time in almost a year last month. the british retail consortium said sales had dropped 0.5% year on year in march. this was largely due to uncertainty over brexit and mild weather towards the start of the year. twitter is stepping up action to reduce spam on the platform by cutting the number of accounts that can be followed in a day from 1,000 to 400.
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the hope is to limit malicious software programmes — called bots — that can act aggressively towards some users — in violation of twitter‘s rules. asian markets have turned back into positive territory. it's the corporate earnings season. positive territory. it's the corporate earnings season. there are worries about the slowdown in global growth but also we have that key brexit saga continuing both in brussels and london. investors have plenty to think about. that is it the business briefing. i will be looking through the papers. to stay with us.
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no fault divorce is being introduced in england and wales to allow couples to split up faster and without blaming each other. under the current rules if people want to dissolve their marriage quickly, they have to give a reason. critics say the system risks making divorces more acrimonious, and tougher for children. clive coleman has the story. currently, when a marriage is irretrievably woken down, divorcing couples are forced to blame each other on the grounds of adultery, desertion or behaviour which is intolerable to live with. or prove they've been separated for a minimum of two years. the decades, campaigners have been pressing the government to change the law because they argue that when you are getting divorced, you will be torn apart emotionally and financially trying to sort out living arrangements for your children and so to throw fulton blame into the mix at that point is to make a bad situation a whole lot worse. now the government has
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decided to act. following a consultation, new legislation is to be introduced that will replace the need to provide evidence around fault or separation, with the requirement to provide a statement of irretrievable breakdown. create an option for a joint application for divorce while continuing to allow one party to apply and remove the ability of one spouse to contest the ability of one spouse to contest the divorce. there will be a minimum 6- the divorce. there will be a minimum 6— month period from petition to final divorce to allow couples time for reflection and turning back. that blame element can really cause incredible animosity between separating parents and i think that's what can cause difficulty for the children but also it can cause difficulty for the couple themselves so difficulty for the couple themselves so whatever we difficulty for the couple themselves so whatever we can difficulty for the couple themselves so whatever we can do to reduce that is, i think, so whatever we can do to reduce that is, ithink, incredibly
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so whatever we can do to reduce that is, i think, incredibly important. the government says the new legislation will be introduced as $0011 legislation will be introduced as soon as possible entry time allows. clive coleman, bbc news. this is the briefing from bbc news. the latest headlines: nine activists in hong kong have been found guilty on different counts for their part in pro—democracy protests five years ago. voting is underway in the closest election israel has seen for years. prime minister benjamin netanyahu is fighting for his political survival. theresa may is travelling to berlin and then on to paris to urge the german and french leaders to agree to delay brexit. might now it's time to look at the stories that are making the headlines in the media across the world. we begin with british tabloid the sun, as theresa may heads
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to europe seeking a brexit extension. "begstention" is how it labels it, with a picture of angela merkel saying the uk's future is in her hands. on to the i newspaper now. it's one of many covering the bigest changes to uk divorce rules in 50 years — which mean one spouse doesn't have to be at fault for a marriage to end. a story from bbc news online, it says insurers lloyds of london is calling time on alcohol and drugs, with new rules banning staff coming in to work under the influence. let's move on to business insider and an effort in silicon valley to help the homeless. the major in the city of sanjose's building mini cities with homes like these for those who've been sleeping on the streets. and finally, an exclusive by travel expert simon calder in the idependent. he reports on a technology company saying plane passengers will, in the future, have to be weighed before they fly. so let's begin with the sun and coverage of brexit. with me is james hughes who's chief market analyst at axi trader.
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the ball, according to this article, very much in the eu's court. the ball, according to this article, very much in the eu's courtlj the ball, according to this article, very much in the eu's court. i think herface sums very much in the eu's court. i think her face sums it up. this very much in the eu's court. i think herface sums it up. this is of course the saga that goes on with brexit. this story really covers everything. you have the situation with theresa may having to go to the eu because she has not found any ground with labour. labour has said she hasn't moved in anyway, she has sidestepped and said, this is the deal, are you going to support me? yes or no? that is not necessarily going to happen. there is a labour aspect of this but the biggest issue is that we move towards another delay. how long this delay is going to be, if we do get a delay at all, and of course, any delay means that the uk are going to have to fight these eu elections. awkward, to say
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these eu elections. awkward, to say the least. only last week theresa may said it would be almost catastrophic for the country to have to vote for eu parliament members, having voted to leave the european union. just really tells you the story of how brexit has gone ever since the referendum. the whole thing is a total mess that we have no control over and even the prime minister doesn't have any

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