tv Worklife BBC News February 10, 2020 8:30am-9:01am GMT
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this is worklife from bbc news, with sally bundock and david eades. back to work or not — many factories in china remain shut as the death toll from the coronavirus exceeds 900. live from london, that's our top story on monday 10 february a large number of china's factories remain closed today even as millions of people return to work after the lunar new year holiday was extended due to the coronavirus.
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history at the oscars — korean—language drama " pa rasite" becomes the first non english language film to win best picture. what will this mean for the korean film industry? and we'll be hearing about how the world is facing a shortage of qualified pilots. and we'll be getting the inside track on... how to make content for brands that connects with consumers. we'll find how one entrepeneur went from a humble youtube channel to running his own video production company. it's been an historic night at the oscars after parasite won best picture — are you celebrating this result? film is big business, will parasite also prove itself at the box office? tell us what you think — just use the hashtag bbcworklife. a warm welcome to the programme. let's begin with the coronavirus outbreak because firms and factories in china are expected to get back to work
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this week after an extended spring festival break. but across the country, some factories will stay closed — including carmakers toyota and honda. and what happens in china matters for the rest of us. china alone now accounts for 39 percent of global growth. to give you a sense of scale china is the world's largest oil importer and so global oil consumption has fallen around 20% since the outbreak began. our asia business correspondent karishma vaswani joins us for the latest from singapore. todayis today is the day that everyone is supposed to return to work but what is actually happening? sally, it's a mixed picture and quite infusing for both employers and employees. as you said, this was the day many people
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we re said, this was the day many people were meant to get back to work but from the evidence we've seen in china that's not the case. in fact, at least two companies workers in beijing that i've personally spoken with have said in the last couple of days the decision was made by their employers to continue the work from home rule that's been in place over the last several weeks. those are office workers, we are talking about a much bigger chunk of the chinese economy which our factories. as a much bigger chunk of the chinese economy which ourfactories. as i understand, there are millions of workers who as of yet, it's not entirely clear, whether those factories will be back up and running and these are in sectors that make things at the rest of the world buys. things like smartphones, cars, all of that, still not clear whether they are coming back online with many factories saying they are going to be shutting their doors for the next couple of weeks, which will have a big impact on supply chain distribution across the world. thank
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you. with us now is brian coulton, chief economist, fitch ratings some of those figures, 39% of global growth comes from china, oil production globally down by 20%, little wonder people don't know what the impact will be. interesting you talk about the comparison with sars, it 20% of world gdp now, compared to 596 it 20% of world gdp now, compared to 5% impact on global growth, so now it will have a huge impact notjust in asia but the rest of the world, especially the eurozone, dependent on global demand for growth. you tend to think on those figures this isa tend to think on those figures this is a negative story but i see the chinese government saying they will expand meeting ports for example straightaway. so some people will benefit because they will be looking to boost their exports. whenever there is disruption on that stage, there is disruption on that stage, the stuff still needs to be consumed so the stuff still needs to be consumed so somebody else is going to supply but it's going to have a big
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negative impact in the first quarter. we are not qualified to predict where the virus goes next but we've looked at various scenarios. on a daily basis it's much more disruptive than sars, because of the official restrictions, the lockdown. that didn't happen through sars but we are only three weeks in, sars lasted three months. if this lasts three months we are looking at something really quite nasty. what are the biggest causes for concern at this point, do you think? it depends on the length. what matters this speakers whether we see a peak in the new cases. if those start to go down people get more comfortable with it. then i think china will be more confident about restarting production in areas that have been much less affected and it's been very concentrated in wuhan. that i think will start to improve some confidence. i would imagine it this week with so many returning back to the factory floor, businesses, from forever, it will be hard to gauge the peak this week, given the movement of people. i'm thinking about the virus numbers, we get
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dailies that might delete numbers on the new cases so if that its started to d rift the new cases so if that its started to drift down a little bit, that will be crucial to watch but we don't know about the economic impact. it's going to be very big at the beginning of the first quarter. but things could start to improve quite quickly once the situation normalises, the panic is over. firms will start to build up inventories, the ruby over time, the manufacturing sector will come back very quickly once this is settled. brian, thank you. worth noting at the moment a lot of governments are upping the anti essentially in terms of the need for urgency and care. thank you. let's take a look at some of the other stories making the news. rakuten, one of japan's largest online retailers, has been raided by antitrust officials. this follows complaints about the compa ny‘s free shipping policies. other firms selling their products on rakuten‘s sites have complained that the e—commerce giant is abusing its dominant position and putting pressure on them to shoulder shipping costs.
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amazon is the latest major company to pull out of one of the world's largest tech shows because of risks posed by coronavirus. the organiser of mobile world congress in barcelona, which attracts 100,000 people, said it will go ahead. south korea's lg electronics, ericsson, the swedish telecoms equipment—maker, and us chip company nvidia have already withdrawn from the conference. still with the impact of the coronavirus — airbnb says it's suspending bookings in beijing until march to comply with local measures intended to curb the virus. the accommodation—booking service says it will offer refunds to all those affected or cancel their bookings. it comes as the death toll from the virus outbreak in china exceeded 900. show me do some brighter news, for a
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moment? yes! -- shall we do? south korean film parasite has made history by becoming the first non—english language movie to win best picture at the oscars. have you seen it? not yet. but now the interest is building. so we have to go and see it! it's only the 10th non—english film to have been nominated for the acolade in the oscar's 92 year old history and beat favourite 1917. have you seen that? i have, great film. laura bicker is in seoul — the parasite tours have now begun. and laura is soaking up this event. you have to get to the cinema, this film was a critical success, now it's cut into the united states and the united kingdom. it has come as a surprise that it had these oscar
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wins but it has sent social media in south korea into a tailspin and meltdown. wild frenzy congratulatory ivy. meltdown. wild frenzy congratulatory joy. many people never thought they would see or hear korean spoken at the oscars let alone someone like the oscars let alone someone like the director winning an oscar but this hasn't come from nowhere. he has been widely acclaimed for wider years. —— many years. when it comes to past successes, his films are well known. this film, because it's about social class, perhaps has made ita about social class, perhaps has made it a more global success. we shall keep a close eye for sure, laura, thank you. the story of the market is not as bright, declines across the board following from the close on friday in the us. that set the tone for what happened on wall street, today, they had really good
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strong jobs report in the us showing the world ‘s biggest economy in good health but concerns about coronavirus, spreading and the impact overshadowing all the good news. it was the case in asia. looking at europe now. we will get earnings this week, softbank, nissan, nestle, ali baba, longest which will be influencing markets as the week progresses. as you can see, the week progresses. as you can see, the theme is negative in europe. we've been trading here for a0 minutes. if the brand—new trading week. now to the us, where the central bank says risks to country's economy are easing, but calls out coronavirus in its latest report to congress. michelle fleury has more from new york. america's top bankerjerome powell will tell congress the recent emergence of the coronavirus could lead to disruptions in china that spill over to the rest of the global economy. the warning comes amid an otherwise upbeat assessment, actually, of the american economy by the federal reserve chief. in its semiannual
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report to congress, the central bank says the us economy remained on a solid footing thanks, in part, to improving trade relations as well as a strong usjobs market which continues to provide enough employment to absorb new entrants into the workforce. for wall street, this will likely be interpreted as confirmation of the fed's view that no further changes in interest rates are needed. time now for our daily look at some of the newspaper and website stories which have caught our eye. joining me is natalie sauber, senior strategic researcher at property consultancy, arcadis natalie, thank you forjoining us. where are we starting? the financial times, can britainpos micro—car pla nts stay times, can britainpos micro—car plants stay open after brexit? what's their response? obviously there is a lot of uncertainty in the market, cart manufacturers currently re—evaluating their investment
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towards britain, also in the coming years so towards britain, also in the coming years so it's going to be quite an interesting next couple of years in terms of who stays and who goes and also the future of the car industry in general, whether we are going to continue to manufacture petrol or diesel whether everyone will switch immediately to electric vehicles. interesting nissan for example, which has significant plant base in sunderland here, they have been talking about the possibility of staying and growing from here because britain is a very good market for them. yes, nissan is definitely one of the manufacturers that sees an opportunity if the other ones are leaving. why don't we increase the market share from a—20% and make the uk the homebase? that isa and make the uk the homebase? that is a positive but looking at some of the editorial notes in the financial times, about hydrogen, not the a nswer to times, about hydrogen, not the answer to zero carbon prayers, eve ryo ne answer to zero carbon prayers, everyone is praying about climate change at the moment for sure. but
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there isn't a silver bullet, is there, that is what this article is saying. most certainly, hydrogen is not the answer for everything, it correlates with a lot of other things like renewable energy and resources as well. but hydrogen has been that potential life—saver for decades, hasn't it? they will still carry on presumably looking for ways to make that work because it ticks all the boxes? it does, to a certain extent but nonetheless it's very expensive to produce. it cannot be applied to everything at the moment. but the guardian has got, there's this photo of an enormous super yacht, i don't know if i describe that as yacht, looks more like a spaceship or space submarine, bill gates ordering this, hydrogen powered. how does this help bill gates doing something like this? people like bill gates who had the means to fund this or in a really good position to bring that technology closer to consumers and almost commercialise it and educate us almost commercialise it and educate us in almost commercialise it and educate usina almost commercialise it and educate us in a way. there is no question
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once that is built we will be looking at it and we will be at least focusing regret it will have her eyes on that. possibly! but it raises a question, £500 million for taking one guy around the world. it's a lot of money. it is but it is the technology we are most interested in and that's what makes the headlines, after all. fair comment, natalie, thank you. we want to bring you some breaking news, the leader of the christian democratic union party in germany has said she will not stand for chancellor to replace angela merkel. that is a bit ofa replace angela merkel. that is a bit of a shake—up. she had been seen very much as the chosen successor to angela merkel when she stands down, not clear at the moment why she has taken a decision, there have been reports of uncertainties and some criticism of the way in which she's been leading the cdu, the centre—right party of angela merkel.
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there will be an election for a new leader of the cdu. but the apparent frontrunner, standing down. very interesting, we will keep a close eye on that story and see who will eventually replace angela merkel. big shoes to fill. very much so. do stay with us. still to come how to make content for brands that connects with consumers. we'll find how one entrepeneur went from a humble youtube channel to running his own video production company. you're with worklife from bbc news. people living in the capital have a new option to get to work this morning — ride hailing company ola has launched in london as a direct rival to other companies such as uber.
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founded in india ten years ago, the company is valued at over six billion dollars. it already operates in cities in india, australia and new zealand. arun srinivas is ola's chief operating officer — why launch in london now? thank you so much forjoining us. the question, i might know the answer, why now? london is truly an iconic global city, we have expanded to australia a couple of years ago and we have been live in the uk but we are expanding the offering in london after we got the license from the dfl last year. we think it's time to take the market to a new level in terms of safety and quality. you weren't influenced by the ever problems in london with the suspension of its licence? as i mentioned we got our licensed last july. we were crafting a proposition around safety and quality what we believe riders value here is a safe
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and comfortable ride, good driver and comfortable ride, good driver and clean car. so we have invested in many features in bringing this proposition to live in london. for example, safety, we have something called guardian, machine learning tool which looks for any unusual activity in every ride, route deviations, unscheduled stoppages, triggers an alarm in the safety command centre, and we contact the writer and driver to make sure they are both safe. you got a slightly different proposition, what you will need a drivers to do the job is. that going? very enthused by the overall response we've had from drivers and riders come over 25,000 drivers and riders come over 25,000 drivers signing up, riders within years of announcement we've got to leave it there. but thank you so much. ola, lunching in london today. you can read more about that on the business live page. more details
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about the launch. many other stories as well. talking here initially about how some market analysts believe that markets are ignoring, astonishingly, the severity of the coronavirus. you're watching worklife. a reminder of our top story: a large number of china's factories remain closed today even as millions of people return to work after the lunar new year holiday was extended due to the coronavirus. now, let's think about youtube for a moment. the video—sharing platform is home to content from anyone on just about any subject imaginable. and a generation of entrepreneurs have used the site to launch their business. our next guest — rupert rixon — says he understands how audiences consume content.
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he's gone from posting on youtubing at home to running a fully—fledged video production firm. welcome to a good old—fashioned tv studio. thank you, great to be here. tell us how this started. you would argue, many would argue, born entrepreneur, you've been creating companies since you were in your teens in various forms. yes, i started a business with my mum, renting out nerf guns for kids parties. i was 15. renting out nerf guns for kids parties. iwas15. that renting out nerf guns for kids parties. i was 15. that was one of my earlier ones and then i realised i needed a way to promote it, i did have a need to do that so i started using video and making videos around the topic and a lot of those were really popular on youtube and i realised, this is quite a big thing, this could do well. and i got really into the film—making side of it and that was where it all sprung from. what are you actually providing now? what are you actually providing now? what do you create? we basically make videos for brands to post on the internet, as documentaries, that
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sort of thing but anything that lives online. they come to you or you go out initially, you had to go out and sell yourself, presumably? in the early days there was a lot of hustling, going out to networking events, but thankfully now i do a lot less of that. what was the response at the time? you are extremely young. this business is really competitive. you've got these massive postproduction companies in london. who are making a fortune and they are very well—known and very well trusted and you are running around atan well trusted and you are running around at an event with a business card, did that work?|j around at an event with a business card, did that work? i think it went down relatively well, given this is an industry that needed disrupting for quite a long time, the media has changed massively. these businesses i feel have not adapted. so it went down relatively well, there was definitely some scepticism when it's me with a skateboard and a business card, i'll make you some great digital content but i think it grabbed peoplepos macro interest. from the point of view of an initial
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investment, you cannot just from the point of view of an initial investment, you cannotjust do it for nothing, presumably? we did, actually, £50 on a business bank account, started in a shed in my parents gardens. hejust account, started in a shed in my parents gardens. he just needed a camera and a skateboard. we are out of touch, but it raises an important point from where we sit, in terms of online advertising, growing exponentially, is that to the detriment is entirely of tv advertising, for example? other traditional forms? last year traditional forms? last year traditional advertising was superseded by the spend on digital media in the us but i think the best campaigns for me are those that use both, and effective tv ad but a really good online campaign, the super bowl content, that goes live, thenit super bowl content, that goes live, then it goes on social so i think there's a time and place rate, for smaller businesses online ijust focus on that but for huge corporations, doing both in a way that actually talks to each other i think makes really effective campaigns. being young in is key, don't you believe? the people you
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work with and hire and use, you are all in your mid—20s? work with and hire and use, you are all in your mid-20s? the average age across the businesses 25. it certainly helps because i think being naturally having grown up with these platforms, i didn't watch so much tv going on, it was snapchat, instagram, youtube, doesn't mean those from the older generations can get involved. thank you! be soft, be careful! well done and good luck. thank you for having me. in a moment we'll run through some viewer responses to our twitter question. but first, let's turn to the airline industry. in recent years, its been soaring to new heights, especially in southeast asia and india. the problem is there aren't enough qualified commercial pilots. so, how will airlines meet the demand without compromising safety? monica miller reports. this cadet is kicking her new career into gear as a commercial pilot. the 23—year—old decided
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to abandon a career in the medical profession and follow her passion. but she initially had her doubts. i thought that this male dominated industry was too hard on females. and most significantly, i am short so i did not know if i could fly a plane or even step on the rudders or most importantly, the brakes. the asia pacific region has seen a boom in air travel for first time flyers and the small pool of qualified pilots isn't meeting demand. in fact, boeing said globally, airlines will need more than 800,000 new pilots in less than 20 years. roughly one third of those jobs will be in asia. aircraft like airbus a320 run on autopilot and normally the trip is fairly smooth but pilots have to learn how to deal with the unexpected, that's why they spend a few hours in the simulator like this to build up confidence to steer themselves out of trouble. major airline manufacturers require 200 hours of flight time but some airlines want to change the rules.
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but as the boeing 737 max fatal crashes demonstrated, pilots only have a split second to make a life or death decision. some analysts say red flags were raised about training. being a pilot, 99.9% of the time it's all very routine, very boring, very stable. and then you have this .0001% of the time you earn your money as a pilot and you have to be ready. until the hiring gap shrinks pilots will face growing pressure to meet the industry's demands. at the top of the show, we asked you whether you were celebrating the success of parasite at the oscars? let's take a look at how some viewers have responded:
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pubs. jonathan pryce and anthony hopkins. great film. he's got more time on his hands. we will see you again tomorrow. yellow. storm ciara unusual yesterday, strong winds across a widespread area of the uk. exposed areas such as the needles in the isle of wight recording gusts of 97 miles an hour, inland, gusts of wind 86 miles an hour at manchester airport. plenty of disruption from the wind strength and localised flooding. plenty of flood warnings in place for all of the country today. the storm has moved away. we've got so much colder air coming from the north—west. some very blustery winds for the country today, winds gusting at 50—60 miles an hourof today, winds gusting at 50—60 miles an hour of parts of northern ireland, north—west scotland, north—west england. rush of showers,
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likely to fall as snow over the northern hills, even possibly to lower levels and the heaviest of the showers, further south and east you are, the drier it will be. some showers could merge together to form longer spells of rain, very windy conditions again the south coast. gusts and exposed location 60—70 miles an hour, plenty of added wind—chill. more of the same on monday night into tuesday. still a very tight squeeze on the isobars, strong and gusty wind, more snow on the northern hills. i think we will see significant accumulations on tuesday and some strong winds, blizzard —like conditions, drierfor much of the south of the country, we see temperatures between five and 7 degrees but still some very blustery winds around and lots of added wind—chill. really worth mentioning that fort northern hills, we see some frequent snow showers over the next few days. there could be some accumulations and with the strength of the winds and blizzards, possibly some drifting snow and this will
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continue much of wednesday. for much of the country, much quieter day on wednesday, ridge of high pressure, very brief but it means lighter winds and some sunshine, won't feel quite as chilly. with those lighter winds we will see frost for many of us on winds we will see frost for many of us on thursday morning. things turning more unsettled as we head through the day. this next low pressure system tracking and from the atlantic. this could give snow perhaps, significant snow for northern england and much of scotland. for the week ahead, staying windy, frequent showers, snow on the northern hills, feeling cold.
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you're watching bbc news at nine, with me, carrie gracie. the headlines: ciara batters britain... thousands of households spend the night without power — travel disruption and flood warnings remain in place. the uk government declares coronavirus a "serious and imminent threat to public health", in order to stop those who have returned from the infected area leaving quarantine facilities. a european spacecraft blasts off from florida, on a mission to take the closest ever photos of the sun. sinn fein's election surge. irish prime minister leo varadkar says coalition talks will be complicated. vote counting is still under way. and we'll have all the results and action from the biggest night in hollywood. join me, jane hill, and the film criticjason solomons,
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