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tv   Asia Business Report  BBC News  December 1, 2023 12:30am-12:46am GMT

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after a two—year delay, tesla finally makes good on the delivery of its cybertruck — but will they sell? plus — high on the agenda for the un climate summit this year centres on funding. but how do we get investors interested in climate technology? hello and welcome to asia business report. i'm arunoday mukharji. we begin this hour with tesla, because the company is finally starting to deliver its highly anticipated cybertruck. this delivery, which was delayed by two years, was announced by ceo elon musk. it comes just a day after he gave a profanity—laced interview in new york in which he called out advertisers boycotting his other company, x, formerly known as twitter. the bbc�*s michelle fleury
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has more on the story. the road here hasn't been easy. the last time elon musk took to the stage to promote the electric car company's cybertruck, its windows ended up being smashed. oh, man. four years later, as the company starts delivering the futuristic product. to buyers the problem has been fixed with customers there in person at the tesla factory in austin, texas, to collect their cybertruck�*s and elon musk put on a show to mark this historic moment. this video shows the cybertruck beating a port in a drag race a porsche in a drag race while towing a port. but tesla's entry into the lucrative us truck market is some two years behind schedule, at a time when high interest rates have dampened buyers ability to make new purchases. the cheapest model is $61,000. mr musk said the company has more than a million reservations and while the cybertruck isn't
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expected to turn a profit for several years to come, given the enormous challenges in actually making it, the launch is an important part of the broader, bigger tesla story, proving that the electric car maker can expand its range of customers in the years ahead. in other news making headlines this morning... disney's ceo bob iger says his company's partners and creative team have been prioritising messaging over storytelling, and that enough is enough. this comes after a slew of online criticism as well as from republican politicians in the past years, over movies like "lightyear" in 2022, which included a same—sex kiss. the company's marvel cinematic universe has also been lambasted by a small section of comic fans for putting out too much content, prioritising quantiy over quality. mr iger said creators have lost sight of their number one objective, which is to "entertain first. it's not about messages." in an effort to prop up prices, the world's major energy producers have agreed to cut oil production by nearly 700,000 barrels a day —
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but described the cuts as "volu ntary". brent crude prices have fallen since reaching close to $100 earlier this year, and energy demand is expected to slow next year over the uncertainty of the global economy. the cuts announced account for less than 1% of the total global supply. brazil, another oil giant, is expected tojoin the 0pec+ next year. as we've been reporting all week, the cop28 climate conference is taking place in dubai, with global leaders under pressure to take action on global warming. finance is high on the summit�*s agenda — and delegates are hopeful of a breakthrough on a climate damage fund — proposed by hosts, the united arab emirates. the money would, in theory, help vulnerable nations cope with the cost of climate—driven damage, like drought, floods and rising seas — something poorer nations have been calling for. the eu, germany, denmark and the netherlands have already said they will contribute.
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but also want countries like china to follow suit. but funds like this is just one part of the answer to the climate crisis, according to naina subberwal batra. she's chief executive of avpn — a network for social investors who focus on issues like gender, inequality, and climate. 0ne one of the challenges, and you referred to it in your introduction, is the majority of global funds blows towards mitigation and reduction efforts in the west which leaves adaptation technology that are crucially important to support climate resilience underfunded. this is further compounded because if you look at it, a mere 30% of patented adaptation technologies are transferred to developing countries, just as those in asia pacific.— asia pacific. what about philanthropists - asia pacific. what about philanthropists and - asia pacific. what about philanthropists and the | philanthropists and the investment coming from them?
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the enzyme budget for dental project effort is important, but designs being given away are far less... have a much lower tolerance for risk, and we looked at returns that are much more visible. unfortunately, invest in inclement requires you to take a longer term view and as such philanthropists tend to invest more in sectors like education and health where you can see quicker returns on their investment, but climate philanthropy is still important because if you can have catholic addict first loss capital to finance solutions are on climate mitigation and adaptation, you will find there would be much more appetite among investors to come in. your team is there in dubai, what your expectations? my what your expectations? m expectations is
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what your expectations? mg expectations is cop becomes more than a talk show, we are starting on a positive note with the host uae announcing their support for a fund that will actually help support poorer countries. so i think we hope that there'll be action items such as this that will take off, and we are also announcing our second sustainability seed fund in partnership with google and another company, which is a for them to refund to support technology investment into climate. let's bring you some news from india now, where shares in tata technologies have more than doubled in their trading debut, valuing the firm at almost $7 billion. it's the first tata group company to go public in almost two decades. the bbc�*s nikhil inamdar has more. well, investors who got share allotment in tata technologies have taken home a massive profit on day one. this is a company in which there was a huge amount of interest because it's for the first time in nearly 20 years that the tata group, which are the owners ofjaguar land rover,
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were coming out with an initial public offering. the last time they did that, it was with tcs or tata consultancy services, which is now one of india's biggest software giants. tata technologies essentially provides technology and engineering support to some of india's biggest auto—makers and heavy machinery companies. and the bumper listing in solid demand for its issue, some say, is reflective of the huge investor appetite there is for quality stocks that are well priced. india's ipo market has seen hectic activity this year, with nearly 200 companies going public, a record both domestically and globally, according to reuters. this has happened at a time when india's stock market has been hitting new highs and the country's growth rate is expected to outpace most other countries in the world. a number of new ipos are lined up in the coming months, with analysts saying that the listing rush will continue at least for some more time.
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nikhil inamdar, bbc news, mumbai. to a special report now on mozilla firefox. if you're old enough to remember, it was the third most—used browser on the internet years ago in the age of dial—up modems. that's now fallen to just 3%, vastly lagging behind market leaders like google's chrome and apple's safari. on top of that, the nonprofit company behind mozilla firefox could lose most of its income because one of its partners is caught in a major court case in the us. my colleague aaron heslehurst has been speaking to the chair of the mozilla foundation and asked her why it bothers competing with the big guns. underneath the browser, it is in good piece of software. the only protection you have is whatever protection the operating system gives you
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about which at a general public can provide some security. we believe firefox is representing you and that's what we deal with. everything from protecting you to allowing you to change simple things like website, too much deeper things that consumers are expressing directly. we compete because that question of who represents the individual in a highly centralised, technological society is critical. your foundations biggest source of gas is a half $1 billion amount that google pays and at the moment google is in a court case where there accused of shutting out rivals will be in the high—profile default search engine on browsers. how do you feel about your future given the trial could loose that money from google? we been
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t in: to money from google? we been trying to diverse _ money from google? we been trying to diverse today -- - trying to diverse today —— diversify _ trying to diverse today —— diversify for some time, something catastrophic could happen _ before we go, let's take a look at us markets... because a measure of us inflation closely—watched by the federal reserve has shown signs of a continued slowdown in october. that's the personal consumption expenditures, which measures american�*s personal spending. it's another signal that the central bank's high interest rates have worked to rein in robust consumer spending and inflation. the last rate decision meeting later this month. and that's it for this edition of asia business report. thanks for watching.
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one of the most iconic buildings in britain, king's college chapel has been turning heads and craning necks for almost 600 years. but 160 feet up above that scaffolding work started to see it through the next hundred. a year long conservation of a leaky chapel roof now complete the focus shifts from conservation to sustainability. we are putting on a38 panels at 219 on each of the slopes north of south slope. we will be complete by the end of december. so what does this all mean in real terms? well, power—wise, it means an anticipated 123,000 kilowatt hours per year. that reduces carbon emissions by more than 23 tonnes a year, the equivalent of planting over 1000 trees. we are responsible for this amazing, iconic building representing tradition.
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but you know what? the college is really about education. young people always looking into the future. and as we look into the future, we know we have to be serious about sustainability. and that's what we really wanted to do. and i think the energy of that came through. and i think we caught the moment. 0nce complete, the panels won't change the view, a view that's equally stunning from below and above. for more stories from across the uk, head to the bbc news website. hey, i'm zoff with the catchup. tonight, more changes to vapes, some clever tech and giant pandas. but first, the cop28 climate summit has kicked off in dubai. it's a meeting held by the united nations each year where world leaders talk about action to tackle climate change. so what are the headlines from day one?
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well, the un chief confirms the 2023 will be the hottest year on record. at least £330 million has been promised to areas hit by climate related disasters. and there's also been controversy over the fact that the host country, the uae, is one of the world's top producers of oil. i think the fossil fuel industry has had a lot of power over the coal process for a long time. and i think that this has sabotaged the process. so we need to dismantle this power and give the power back to the people. some other stories now, elf bar and lost mary are going to stop selling vapes that taste like desserts and soft drinks soon because they've been criticized for being appealing to kids. they're also calling for stricter rules around who can sell vapes and how they're displayed. next, tech is being used to help give people their accents back. and until now, young people in wales who use devices to communicate haven't had a welsh accent as an option. but a new programme will allow them to choose between north
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and south wales accents on the nhs for the first time. time now for ten seconds of giant pandas. visitors at edinburgh zoo have been watching these guys for the last time before they are sent back to china as their loan is up in december. i'm sure they'll be hugely missed. they are just adorable. you're all caught up now. see you later.
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hello and welcome to sportsday — i'm sarah monica. liverpool fire four past lask to book their place in the knockout stages of the europa league a crunch game to come at wembley...and there could be a 50th cap for lauren hemp, as england look to keep their 0lympic hopes alive on behalf of team gb. and �*it�*s a crazy game' for ronnie 0'sullivan who says he "can't be bothered any more" with snooker despite making the last eight at the uk championship.

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