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tv   Business Briefing  BBC News  May 27, 2019 5:30am-5:46am BST

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this is the business briefing. i'm samantha simmonds. what do the european parliament elections bring for business? we'll be live from brussels. us president donald trump keeps up pressure on japan to cut its trade surplus with america, as he meets with japanese prime minister shinzo abe. and on the markets, asian markets made a tepid recovery monday as investors sought to shrug off a difficult week dominated by anxiety over the fractious us—china trade war. more on the markets shortly.
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so... the big centre—right and centre—left blocs in the european parliament have lost their combined majority in the parliament amid an increase in support for liberals, greens and nationalists. the centre—right european people's party remains the largest bloc, and is expected to form a pro—eu coalition. the liberals and greens had a good night, while nationalists were set for victory in italy and france. in britain, the newly—formed brexit party won nearly a third of the vote, with the governing conservatives beaten into fifth place. labour also suffered heavy losses. turnout across europe was the highest for 20 years. so what are the ramifications for businesses across the block? let's get more on this story. ben butters, policy adviser at eurochambres joins me now from brussels. good morning to you, ben. what is your assessment from the fallout for
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business? we are optimistic. the first point to make is turnout has been very high. this is was no our number one objective, there's been many organisations across europe —— this was our number one. explaining why it's important to vote for progressive candidates. we are pleased that the turnout was so high. now we have to see what kind of coalition forms but we are hopeful a pro—european, liberal coalition of like—minded politicians will be formed and will help the business community and help take the single market forward in particular. in particular, what policies would you like a new coalition to implement, what would really boost business in europe? implement is the keyword i think, it's really how they go ahead with important policy
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areas like the single market, which has always been a priority but for too many businesses in reality has been proved to be an abstract concept. for a small business it's difficult in many sectors to trade across borders within the eu, there's a lot of barriers that remain, even though we hear a lot of rhetoric and positive signals and m essa 9 es rhetoric and positive signals and messages from brussels, we need to make that work in the marketplace, particularly smaller businesses so we are hopeful they can work in particular on removing those barriers and helping this huge free trade area, which is the eu, deliver for small businesses. we've seen green party is improving on their numbers significantly, surely that will impact on business as well, they will have to think about their environmental policies in greater detail you would think? -- green party is. absolutely, but small and medium—sized enterprises, which are very much ingrained in their local
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communities, they are aware of their green responsibilities. but it's how we implement these policies. turning the priority of addressing climate change into realistic pieces of law and measures that can actually help businesses and from which we can find business opportunities to help the competitiveness of the european union globally, and to drive forward the green agenda, is really the objective and we believe that's possible. i suppose we have to mention the b word, brexit, the brexit party with huge success in the uk and we are still in a holding pattern as to whether we will leave with a conservative party leadership election. what is your assessment as to whether any overnight results will impact on business? i referring to the uk in particular? it's interesting that the brexit party have taken the seats the ukip
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members had for the last term, but the only genuinely pro—remain party, the only genuinely pro—remain party, the liberal democrats, have seen a significant boost in the number of seats they will have. if i understand correctly they have gone from one to 14 seats. there's a message there. in terms of how that will translate into the uk government policies, that remains to be seen. we have the leadership process coming up now, which will delay things significantly. our message remains the same as it has through the brexit process, whatever happens, we need to avoid a no deal brexit. we need a soft brexit if and when it happens that allows businesses to continue to trade across the channel. ben butters, good to get your analysis. thank you. —— channel. now let's brief you on some other business stories. fiat chrysler and renault are set to confirm tie—up talks later today, with the board of the french carmaker called to an early morning meeting to discuss the situation. the plan under discussion would involve some transfer
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of equity, according to a source close to the discussions. air new zealand has ordered eight boeing 787—10 dreamlinerjets worth $2.7 billion at list prices, which will be powered by general electric engines. the american plane maker beat out rival airbus, which had proposed the a350 for the hotly contested deal. the deal gives the airline, which has previously mentioned a goal of flying auckland—new york non—stop, theoption to switch some aircraft to the longer range 787—9s. huawei's founder and chief executive ren zhengfei says retaliation us president donald trump is continuing his visit injapan with a meeting with prime minister shinzo abe and trade is expected to high on the agenda. let's go to tokyo now, where hywel griffith is following the story. hywel, welcome to you. they have done the golfing and the sumo, now it's time to get down to business. what do you think is going to happen today? absolutely, and with donald
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trump it's about brokering a deal, he wants a new deal with japan. he says the us‘s trade deficit isn't a cce pta ble says the us‘s trade deficit isn't acceptable so things have to change. what are they actually going to talk about? part of that will be the japanese car industry and its presence in the us. last week donald trump was saying how foreign cars area trump was saying how foreign cars are a threat to national security, so there's the threat of tariffs that shinzo abe, the japanese prime minister, will be very concerned about. also american farmers want more about. also american farmers want m o re a ccess about. also american farmers want more access to sell their beef and agricultural products into the japanese market. we are told may be not to accept a final —— expectation final deal this weekend, may be when donald trump comes back to japan next month for the g20 summit, but may be by august —— expect a. that would be good for him because they are to the biggest economies in the world, so going into the election in 2020, it will be key to show he has
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struck a deal —— two of the biggest economies stopping all that around the gulf and the sumo, where japan are far i'm sure that it will be sumptuous. thank you. running a business is like running a marathon, break everything down into little steps that you can accomplish everyday. many people think the ceo is the captain of the ship, really the truth is you are the ship's designer. it's effective to give other people goals and step back and let them decide different ways of accomplishing it, because they'll surprise you. can you create an environment where other people have
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enough information to decide and make the right decisions as opposed to being out the front and saying row harder, grow harder and expect more of them. we apply that to our business and simplify it. a lot of how we make money and a lot of why people buy our subscriptions is because of that. last year, i ran my first marathon, i entered the new york marathon and trained for 18 weeks for it and it felt fantastic. a big accomplishment andi felt fantastic. a big accomplishment and i think the same is true of business. every day, if we deliver ona plan, business. every day, if we deliver on a plan, we're much more likely to achieve our goals. i think in my job, the idea of having a big plan, a big ambition, you want to be the next big sports brand of the 21st—century, that doesn't get accomplished overnight so one of the things we need to do this month, this week, this quarter, this
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half... try to break things down for people into goals, and for myself. that is it for the business briefing for this our. looking at the markets, investors shrugging off a difficult week dominated by the fractious us—china trade war. the nick a was optimistic with the visit by donald trump and the trade talks ongoing —— the nikkei. as we have from hywel griffith the cautious recovery in asia. —— as we have heard from hywel griffith. the hang seng is down slightly at 0.6 as well. let's have a look the other markets. with got brent crude, pretty flat. stay with us, we're going to have david in brussels
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taking you through how the papers are digesting the news overnight of those european parliamentary elections. i'm back later with more business news. goodbye for now. welcome back to brussels. labour and the conservatives have paid the price for their indecision over brexit, suffering huge losses in the european elections. here's our political correspondent nick eardley with a round up of the results so far. his report contains some flashing images. a vote that wasn't supposed to take place to a parliament we're supposed to have left, a result which shows the country is still bitterly divided. the big winners, two parties with very different but very clear messages on brexit. nigel farage's accept party topped
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the poll with almost a third of the vote —— brexit party. the liberal democrats, with their anti—brexit message, had a big night too, coming second across the uk. for the two parties that normally dominate british politics, it was a disaster. conservatives were thumped, finishing fifth with less than 10% of the vote. labour were too punished, finishing third with less tha n too punished, finishing third with less than 15%. that will spark a heated debate about whether it should now get fully behind another referendum. the green vote was up to two, they beat the conservatives into fourth place. ukip were wiped out, and change uk fail to make their mark. in scotland, the snp we re their mark. in scotland, the snp were miles ahead, by almost 40% stopping the party will take three of the six seats there. in wales, the brexit party topped the poll,
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plaid cymru came second. labour, a party who've dominated welsh politics for a century, finished third. northern ireland camps today. it was a big night for parties who've taken a firm stand on brexit and a bad night for the others. but voters remain split between parties who backed leaving the eu as soon as possible and those who want another referendum. this is the briefing from bbc news. the latest headlines: in the european parliamentary elections the brexit party has won most seats in the uk, but there were also gains for smaller parties opposing brexit. across europe, the main centre—left and centre—right blocs have lost ground to smaller groupings. far—right parties topped the polls in france and italy.
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we will now look at how all of this is being reflected in the newspapers across europe, at least certain parts, the ones we can get here in brussels at this time of the morning. iam brussels at this time of the morning. i am joined brussels at this time of the morning. iamjoined by brussels at this time of the morning. i am joined by geoff mead, this is le this isle figaro. macron begins his dual with marine le pen. these are the two big politicalfigures in france and the results show that it was marine le pen who just pipped emmanuel macron's party in terms of most votes in these elections. you have another take on the story?” don't know when this photo was taken but it was after the result. look at
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it. it says the storm. —— scorn. he onlyjust he only just lived he onlyjust lived in but it's a massive loss. i almost don't believe it. and it is a real challenge now for him, isn't it? absolutely. they didn't exist as a party five years ago, they have 20 seats now in the european parliament, that sounds pretty good. but for the president, a relatively new president to be picked by the person he beat in the residence or election, that is hard to take. she didn't do it by much but it is enough. especially as he came out of the starting gate as a political figure from nowhere, came out of the starting gate as a politicalfigure from nowhere, doing so well. and this mould newspaper —— smile, pointing out as a man

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