tv Business Briefing BBC News October 25, 2019 5:30am-5:46am BST
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this is the business briefing. do or die no more — the uk prime minister admits for the first time his brexit deadline will not hold. instead he calls a general election. is it a bird? is it a plane? no, it's an air taxi, coming soon to town near you — or is it? and on the markets, asian stocks struggled to follow wall street's lead on friday as most major indices fell amid a raft of lingering uncertainties, ranging from corporate earnings to the us—china trade war.
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eu ambassadors are to meet to discuss what length of brexit extension to offer the uk. if at all. most eu states are understood to favour a three—month delay, with an option to end earlier if a deal is ratified sooner than this by parliament. meanwhile, british prime minister borisjohnson has called for a general election on december 12 to break the brexit impasse.. it's the first time he's conceded that he will not meet his "do or die" deadline to leave the european union next week. shortly after that uk finance minister sajid javid announced that the november six budget would no longer take place.
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and business groups are already complaining about uncertainty — the uk's federation of small businesses says it's left many of its members "in limbo". but many companies also dread britain leaving without a deal. a poll by the institute of directors says more than half of it's members want either a new referendum or general election to try to avoid that. adam jackson, director of public affairs & brexit advisory at grant thornton, joins me now. more of the same, i mean, it feels like we have entered a new brexit chapter and yet, for businesses, who are having to make decisions and the people you're talking to and advising, it is the same. yes, it feels like round hot day, having gone through it in march and april, with delays. we are starting to say the same things to business as we we re the same things to business as we were saying six months ago. what is the advice at the moment?”
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were saying six months ago. what is the advice at the moment? i looked at what i was saying six days before brexit date in march and it is exactly the same. for the time being keep your no deal preparations going because, until we have that extension from eu leaders, no deal in six days' time is not off the table but the risk of that has really significantly declined but still, do not shelve those plans. indeed, if we have an extension, we might be going through this whole thing again, whether it is a short extension, january, or beyond that. another element is just plan for this uncertainty and we are not going to get great certainty from politicians, we do not know if we're going to have an election, budget is off, but even if we get past this stage, we still do not know what our
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future relationship with the eu will be even if you get a dealfree. the message is, this is the new norm in politics and business and we need to get used to it and get used to volatility and uncertain day. the major problem with that though, with having effectively a zombie government is that you end up with a zombie businesses. doing the same thing, investment levels dropping, people deciding to take risk off the table, not employing more people, not buying machinery, not maintaining relationships and then these businesses declined so the cost of extending and extending and extending, it is attritional on business as big and small. we are certainly seeing in the market in the uk that a reduction in investment, as you say, there has
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been a pause on internal investment for the last nine months. externally in terms of investment into the uk, certainly for the last while, there has been a pause on deal. we did see an update after the last extension, in terms of foreign investors, if we get a longer extension, some of those deals picking up. we are absolutely what we're in the market. what you then see if there are some businesses, who are, if you like, bucking the trend and to deal with uncertainty, we are advising clients on gas, how to cut costs, how do we manage cash flow better because that is tightening but also how do we recruit and retain talent? a bit of a problem because people are less keen to move but the business to
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move on, they will not lobby against this. they have not had any influence over the political any more so influence over the political any more so thinking about how to trap the best talent and the rather opportunities for overseas markets oi’ opportunities for overseas markets or innovative services, people flying helicopters and taxis perhaps... laughter. they can navigate through uncertainty and still grow the business. that is tricky but those are the things that people need to look out for. silver linings on friday, thank you very much. the final report into the deadly lion air crash that killed 189 people last october is due out later today in indonesia. let's go to our asia business hub where karishma vaswani is following the story. families have been briefed by investigators that these were mechanical and design issues with the aircraft but some of the factors
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here, do we know any more at this stage? i think more will become clear when the final report comes out later today, in just a few hours' time, in a press briefing in ja ka rta hours' time, in a press briefing in jakarta but what families of the victims that were briefed on wednesday have said to the bbc is that some of the main factors indonesian investigators told the cause the crash of that flight 610, of things like problems with the flight of things like problems with the flight control system, which they say pilots were not aware of or how to respond to in the event of a malfunction and other aspects like things revealed in the report later today but you will remember that following the lion air crash, there was another 737 max operated by ethiopian airlines and that was survived that deadly accident either
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and that led to a global grounding of this boeing model of plane and question as to what could have caused these brand—new planes to pull out of the sky. some suggestion that the final report will focus on safety procedures but we really will not know until we get the details later today. i am sure you will be going through them with a fine coma. could flying taxis be coming to a city near you? this week, a german company that developed an electric helicopter drone completed its first manned flight in singapore. but are regulators and passengers ready to come on board? the bbc‘s monica miller reports. from a dream to reality. this flight went on for a little over two minutes. it is a test run for singapore ‘s regulators. get the company one step closer to selling the invention in cities like los angeles, dubai and singapore. the invention in cities like los angeles, dubai and singaporem the invention in cities like los angeles, dubai and singapore. it is not going to replace a car in a
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general way but it is going to be your transit transportation mode of choice stop you have only seen this in sci-fi choice stop you have only seen this in sci—fi movies. we hope it is going to be a standard form of transport people get used to, just likejumping ina transport people get used to, just likejumping in a cab. in this transport people get used to, just like jumping in a cab. in this case the sky port built a prototype outside the central business district. the experience is said to be rather seamless. a hybrid between going to the airport and waiting for a taxi and the first thing you have to do is check in and even before you get to the port, they already have your information in place and once that is completed, you will be greeted by one of your players who will then take you on yourjourney. all you have to do is... hop on in, put a little bit of luggage in here
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stop and then, you are on your way. but even with the right technology in place, how tough could it be to win the public? trust and confidence? i like to try everything once but i do not know how safe it is. at first, i do not feel it looks safe at all but i suppose it will get better in time. the company plans to launch the air—traffic service by 2022. it is competing with more than 100 companies already developing similar aircraft. it is down to various regulators not if but when this new mode of transportation becomes a part of everyday life. let me know what you think. would you get one of those. the asian markets not really doing so the asian markets not really doing so well. a lot of optimism sat by
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disappointing numbers from amazon, a first volume profit in two years. see you soon. schools are failing to diagnose at least 80% of pupils in england who have dyslexia, according to a new report. it said families were paying up to £1000 for private assessments and support. now, charities and mp‘s are calling for every school to have a specialist teacher to help pupils with the condition, as luxmy gopal reports. 11—year—old jake is dyslexic and struggles to read and write. in my point of view, i cannot really read.
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his primary school would not diagnose him until he was eight yea rs old diagnose him until he was eight years old so his mum got it done privately when he was six but according to a report by cross—party mps, according to a report by cross—party mp5, 80% according to a report by cross—party mps, 80% of schoolchildren in england with dyslexia are undiagnosed. a private diagnosis cost between 500 and £700 per child. and in any private tutoring needed and it can become unaffordable. and in any private tutoring needed and it can become unaffordablem ta kes a and it can become unaffordablem takes a large proportion of my salary each month to fund that. it is almost like paying for another mortgage. some schools like this one in late, do provide specialist staff and equipment for children who used to struggle without knowing why. and equipment for children who used to struggle without knowing whym made me feel a bit dumb because eve ryo ne made me feel a bit dumb because everyone else could do better work than me. it was like, why am i so bad at spelling? when i found out, it made it feel better because i knew there was a reason. now some mps and charities what every school to have eight dyslexia teacher for
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better support and earlier diagnosis. the department for education says schools must identify and address people ‘s needs. it has not reviewed to improve services. it has hope the new report's propose changes could see a happier future for those suffering. luxmy gopal, bbc news. this is the briefing from bbc news. the latest headlines: borisjohnson tries again to secure a new election, as eu ambassadors meet to discuss another possible brexit delay. tens of thousands of people are forced to leave their homes, as wildfires rage through california's wine country. post—mortem examinations are to begin on the 39 people who died in a shipping container bound for britain. now it's time to look at the stories
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that are making the headlines in the media across the world. we begin with the times, which focuses on the uk labour pa rty‘s reaction to prime minister borisjohnson‘s call for an early general election. it reports that labour's leader jeremy corbyn was on thursday night still considering backing the election call, despite massive pressure from his own party to reject it. the german paper die welt says johnson's chance of getting a new election is zero, as the strong support he requires from 0pposition parties to trigger one is not in sight. tech crunch leads on the online giant amazon's first earnings miss in two years, which led to its shares falling by nearly 7% in after—hours trading on thursday. 0n the front page of the financial times are new figures that show three quarters of mothers in the uk are now in work, the highest ever level recorded. the new york times reveals that president trump cancelled his subscription
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to both its paper and the washington post. the white house says the move will save hundreds and thousands of taxpayer dollars. and finally, the sun reports on bbc newsreader huw edwards chasing of a burglar out of his home while wearing his pyjamas. the paper says the raider escaped by driving off in the star's mercedes. hopefully not by huw in his pyjamas. so let's begin with the times, and the latest turn on brexit. with me is kathleen brooks, director at the market analysis company minerva analysis. where does labour stand on all of this? it appears there is another waiting game going on. labour waiting game going on. labour waiting for the eu, the vote on monday, where are we?|j waiting for the eu, the vote on monday, where are we? i know, it is like a gordian knot, really. the
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