tv Business Today BBC News September 16, 2024 5:30am-6:01am BST
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the social media platform is challenging a us law signed by presidentjoe biden earlier this year. it aims to compel its chinese parent company, bytedance, to sell the company orface a ban. tiktok claims it has more than 170 million users in the us. our north america technology correspondent lily jamali has more from san francisco. they did so with a rare bipartisan support. lawmakers said tiktok should share the data of its 170 million american users with the chinese government and open the door to chinese propaganda. tiktok has denied those allegations. the company has called the measure extraordinary intrusion on free speech rights. it will make its case before a 3—judge appeals
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court panel on monday and will bejoined by court panel on monday and will be joined by creators who make their living on the platform. department ofjustice lawyers will follow with the government's view. all the parties in the case have asked for a ruling by mid december, that would give the us supreme court the opportunity to take the case up before any potential band could take effect. joining me now is grace nelson, analyst at assembly research. grace, welcome to the programme. just tell us more about what will happen today. sure. today we are expected to see two different versions of a case by out about the law at the centre of this disagreement. the us government will be for the first time she giving us a look into those national security concerns under which they are proposing to ban tiktok or the divestments of bytedance from the app. however, from their perspective, we will see them try their case on the grounds of first amendment or
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free—speech protections alleging that the us government here is infringing on the rights and liberties of not only the app on the platform which could have great implications for how the us government can go forward and regulate social media and other contacts, also for approximately 170 million americans as you heard you use the app. americans as you heard you use the a- -. ~' , americans as you heard you use theau. ~ ,., ,, ., the app. tiktok is appealing for a speedy _ the app. tiktok is appealing for a speedy process. - the app. tiktok is appealing for a speedy process. how l the app. tiktok is appealing i for a speedy process. how long do you think this will take? given that both parties have requested this case be heard by the supreme court no later than december six, that ironically any ban from the lobby upheld go into effect on 19january, 2025, which is one day before a new president will be inaugurated, i would fully expect that not only a quick appeal be filed after the ruling from the hearing today, but also that appeal likely to be picked up by the supreme court before that sixth of december asking date. in court before that sixth of december asking date. in the meantime. — december asking date. in the meantime, there _ december asking date. in the meantime, there is _ december asking date. in the l
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meantime, there is speculation about the outcome of course of this legal process, but also, it is reported in some financial press that is on and tiktok are deepening tyres with amazon on the table as a possible buyer of tiktok? your thoughts on that? we possible buyer of tiktok? your thoughts on that?— thoughts on that? we have already heard _ thoughts on that? we have already heard bytedance i thoughts on that? we have - already heard bytedance express pretty incessantly that they do not believe a separation of tiktok from the company is feasibly, feasible, commercial or legal, and we have seen some concerns that separating tiktok and in particular algorithm that powers the of content to keep users would make the product a shell of its current self as us users know it. we have also seen a prior partnership attempt between data host 0racle in the united states and tiktok through their initiatives, i would states and tiktok through their initiatives, iwould be surprised moving forward to see bytedance willing to offload the asset to a us only function
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and would equally be surprised to see the us government accept anything less than a full divestments from the chinese firm. , ~ firm. 0k. interesting. think ou for firm. ok. interesting. think you fervour— firm. 0k. interesting. think you for your time. - firm. 0k. interesting. think you for your time. great - firm. 0k. interesting. think you for your time. great to | firm. 0k. interesting. think. you for your time. great to get your analysis. it's a big week for financial markets as the us central bank kicks off its highly anticipated september meeting tomorrow. investors are expecting the federal reserve to lower interest rates this week as inflation continues to trend towards its 2% target. but how aggressive will jerome powell and his team be? also meeting later this week is the bank of england with no change in the cost of borrowing this month. susannah streeter is head of money and markets at hargreaves la nsdown. hello to you. so, really, the narrative has been, yes, rates are coming down in the us this week, it'sjust a question of how much?—
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week, it'sjust a question of how much? ~ , , ~ how much? absolutely. and the expectation _ how much? absolutely. and the expectation is _ how much? absolutely. and the expectation is that _ how much? absolutely. and the expectation is that on _ how much? absolutely. and the expectation is that on balance i expectation is that on balance it will probably be a smaller 25 basis point cut rather than a bigger one, and that is because even though inflation has come down towards target, 2.5% at the last count, there may still be a little bit of concern that perhaps if there is a bigger rate cuts, you could see prices start to run away again. but still, the jewellery really is out, the fed could still vote for a bigger cut. 0ne fed could still vote for a bigger cut. one of the other reasons why perhaps they won't is because it could send a signal that they may be concerned about the economy than otherwise would be suggested because still going pretty well, it still growing, and they may want to allay those fears by moving more gradually with the first select smaller basis point cut. fik. gradually with the first select
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smaller basis point cut. ok. so that is the _ smaller basis point cut. ok. so that is the fed _ smaller basis point cut. ok. so that is the fed and _ smaller basis point cut. ok. so that is the fed and of- smaller basis point cut. ok. so that is the fed and of course i that is the fed and of course we will find out, it is a two—day meeting in washington, we will find out on wednesday what the decision is there. in the uk, the bank england has its meeting. many would love to see another rate cut this month, but unlikely, isn't it? it does look more unlikely, and thatis it does look more unlikely, and that is because partly inflation has crept up away from targets, and we've got the latest inflation snapshot you out before that meeting on thursday, coming out on wednesday, and it is likely to show that inflation continues to edge upwards. that is why policymakers at the bank of england are widely expected to make no change. however, further cuts are expected in november and december with additional cuts later next year as well. so they might need to have a bit more patience. it does indicate at the moment manager markets are pricing the
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likelihood of no change. so those borrowers who are looking to remortgage may have to wait weeks rather than days for another interest rate cuts, but they are on the horizon. qm. they are on the horizon. 0k, alwa s they are on the horizon. 0k, always lovely _ they are on the horizon. 0k, always lovely to _ they are on the horizon. 0k, always lovely to see - they are on the horizon. 0k, always lovely to see you. - they are on the horizon. 0k, always lovely to see you. have always lovely to see you. have a great week. we will see you again soon. now, let's head to india where the anti—trust watchdog has okayed a deal between one of asia's richest men, mukesh ambani and the walt disney company. the two are coming together to form india's biggest entertainment entity. arunoday mukharji looks at what this $8.5 billion deal means for the country. music plays from india's top—rated tv series to a highly cricket tournament, or even the english premier league. they are all now going to be on one platform. a merger that could disrupt india's media landscape. across smartphones and television platforms,
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the combined entertainment powerhouse of reliance and the walt disney company giving 750 million viewers access to over 120 channels and global content from over 30,000 disney assets. industry experts say while it gives the new entity heft to take on the big tech global heavyweights that have been expanding in the country, it could also spark some concerns for the existing 0tt players jostling in india's market. then they drop prices, which is the big thing. that is the strategy over the years. give stuff at throw—away prices and totally destroy value for the other guy, and you build up your business. the merged entity's biggest cash cow broadcasting rights to stream's india's most popular sport. in a a cricket crazy nation, reliance and disney together now hold almost 80% of the highly lucrative
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sport streaming market. it's exactly what made india's competition commission sit up and scrutinise the deal says anti—trust lawyer raoul ray. the two of them together had shelled out roughly us$6 billion, and once you secure the rights to broadcast, you would like to sell those rights to advertisers. they retained the rights for the next couple of years and therefore the regulators' concern would be about what would they be able to do for the next couple of years. experts also say the watchdog would have needed assurances that the companies don't use their leading market position to squeeze advertisers. while the companies are yet to disclose what voluntary modifications they will make to this merger deal, they have pledged to not discriminate against advertisers or raise prices, something that would have helped address anti—competitive
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concerns and ensure that the indian market remains free from a scenario where there is too much power concentrated in the hands of one entity. arunoday mukharji, bbc news, delhi. could the eu's schengen agreement and the free movement of people and goods be under threat? from today, germany will be implementing new border checks that will remain for the next six months as the country attempts to curb the influx of illegal migrants. polish prime minister donald tusk has denounced the decision as "unacceptable" and germany has been accused of undermining the schengen agreement and the free movements of goods. i'm joined by dr rebecca harding, independent economist. good morning to you. is this just germany trying to get control of its borders or is this undermining the schengen agreement? 50. this undermining the schengen agreement?— this undermining the schengen aureement? , ., , agreement? so, germany has been accused of undermining _ agreement? so, germany has been accused of undermining the - accused of undermining the schengen agreement before, back
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in 2015, and it opened its borders, actually we need to put this in perspective. since 2015 have been 404 different border closures across the whole region, so germany is not alone. the open —— problem generally has is a huge issue with its domestic politics, the economy and obviously with migration and terrorism as well. germany has tried very hard to put this within a legal framework within eu law, and it is only for six months, so it is only for six months, so it is a temporary arrangement so that german politics can settle down a little bit, to some extent it is seen as an appeasement of the right wing in germany, but it is also they are stressing very much indeed that it are stressing very much indeed thatitis are stressing very much indeed that it is a temporary solution, so they are saying it won't undermine chang. oliver short isiust — won't undermine chang. oliver short isjust going _ won't undermine chang. oliver short isjust going to _ won't undermine chang. oliver short isjust going to ride - won't undermine chang. oliver short isjust going to ride the l short is just going to ride the wave of the political backlash of other countries in europe, as you say, to try and keep people on board within germany
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itself were politically it is proving very tough for his party? proving very tough for his .a ? ., . , party? exactly. the conservatives - party? exactly. the conservatives have | party? exactly. the - conservatives have walked party? exactly. the _ conservatives have walked away from migration talks, they are saying this measure doesn't go far enough. the problem that 0laf schultz is obviously the economy is flatlining at the moment, it is very dependent on exports and export revenues, and the cost for germany alone of leaving schengen over a period of time will be around 77 billion euros, which is very, very high indeed. what he is trying to do is square circles, keep within european law and try and appease the right wing because they have also been these regional elections where the afd have done so well. 50 elections where the afd have done so well.— done so well. so this is not the schengen _ done so well. so this is not the schengen agreement i done so well. so this is not| the schengen agreement in done so well. so this is not - the schengen agreement in rises in your opinion, it is something that will blow over? it is not the schengen agreement in crisis at the moment, but what it has done is
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created a really toxic environment within europe. migration has been toxic since 2015 so this isn't a new problem stop he has been there for a very long while. what is done is because it was done unilaterally and the poles are saying, the french are saying this was done without consultation, so it'sjust disrupted that unity across europe so it has added to the tensions of europe, and that is a risk i think that it has just been done in a way that maybe was a bit clumsy. and that threatens schengen because it fragments alliances, the very fragile already around migration. thank you very much. some economic data came out of china on the weekend. industrial production
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slipped to a five—month low while the country's jobless rate also unexpectedly hit a 6—month high. retail sales, which is a key gauge of consumption, rose just over 2% in august, which was down from an increase of 2.7% injuly. of 2.7% injuly. the data follows premier li qiang's the data follows premier li qiang's comments last month, comments last month, where he said the country where he said the country will focus on stimulating will focus on stimulating consumption. consumption. thousands of boeing workers thousands of boeing workers went on strike on friday went on strike on friday after union members after union members at the firm's west coast at the firm's west coast factories overwhelmingly rejected a contract offer factories overwhelmingly rejected a contract offer from the firm, which included from the firm, which included a 25% pay rise over four years. a 25% pay rise over four years. asking prices for uk property asking prices for uk property has risen in september, has risen in september, thanks to political stability thanks to political stability after the recent election after the recent election and falling mortgage rates. and falling mortgage rates. the average asking price the average asking price has now gone up to £370,759, has now gone up to £370,759, up 1% on the previous month up 1% on the previous month according to rightmove. according to rightmove. the rise comes after the rise comes after a 15% fall in august. a 15% fall in august. around the world and across around the world and across the uk, this is bbc news. the uk, this is bbc news.
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you are with business today. i'm sally bundock. if you are watching me before that short break, i mentioned there was a fall in average asking prices for uk houses in august of 15%. 0f for uk houses in august of 15%. of course, that is not the case. that is a pretty dramatic decline. it is actually 1.5%, so apologies there. that key decimal point missing. a billionaire investor who predicted the global financial crisis has warned the us election risks tipping the world's biggest economy into serious disorder. ray dalio founded the world's largest hedge fund — bridgewater associates and is closely watched by other investors for his stock picks. he spoke to our business editor simonjack in the days following a television debate between the two candidates for president, kamala
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harris and donald trump. you have a situation where you have irreconcilable differences. there is a possibility that the loser, you know, particularly if it's the republicans and donald trump, might not accept losing, and you have a situation where it's a win at all costs by both the left and the right. so neither side can compromise. so you have a dynamic which is a particularly risky dynamic. there will be two things to pay attention to. first, can you have an orderly transition? we will find that out quickly, and then after the orderly transition, you have
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a dysfunctional government, and which there is going to be very hard playing against each other that will be challenging. i think you are seeing now and you're going to see more of it people moving to different states, because the states represent different living standards, different approaches, and so i think you are seeing more of a fragmentation, a serious conflict between the parties. that's affecting government. just spell that out. you're talking about republicans who live in new york moving to, i don't know, texas, and democrats who live in new york moving to new york, sort of migration within the united states? yes, there are a lot of people in states like california and new york and newjersey and so on who will go to states like florida and texas, partially because of taxes,
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but partially because of values. and would you make a parallel with any other period in history in your studies, what does this remind you of, where we are now? this reminds me of the 1930 to �*45 period in which there was an economic problem, economic crisis and then four democracies chose to be dictatorships — germany, italy, spain and japan had parliamentary systems, and they broke down in terms of internal conflict between the hard left, the hard right, communism and fascism. we are today seeing modern—day versions of some of these things. that 33 period onward led to a world war. that a positive ability that possibility today?
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—— is that a possibility today? of course it is a possibility. of course it is a possibility. i hope the issue of war nowadays, as we have experienced military war, i think that the probabilities of that are low, but cannot be dismissed. because the probabilities are a low, largely i think because of the consequences.— largely i think because of the consequences. and a few other questions- _ consequences. and a few other questions. golubic _ consequences. and a few other questions. golubic when? - consequences. and a few other| questions. golubic when? gold. trouble harris? _ questions. golubic when? gold. trouble harris? no _ questions. golubic when? gold. trouble harris? no answer. - questions. golubic when? gold. | trouble harris? no answer. both bad trouble harris? no answer. both had choices- _ it was in operation many senior
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figures couldn't be done, but they rode built a devastating raid had a critical point in the second world war. today, more than 80 years on, the news when he was developing the bouncing bomb go up for auction. john maguire has been to see them. standby. four, three, two, one, fire. ., . , standby. four, three, two, one, fire. ., ., , " fire. immortalised in the 1955 film, fire. immortalised in the 1955 film. doctor— fire. immortalised in the 1955 film, doctor barnes _ fire. immortalised in the 1955 film, doctor barnes wallis . fire. immortalised in the 1955. film, doctor barnes wallis with the help of his children's toy marbles is trying to devise a way to attract dams in germany with a bouncing bomb. and now what is believed to be the last two remaining wallis marbles to go two remaining wallis marbles to 9° up two remaining wallis marbles to go up for sale are being auctioned near bristol. they are 'ust auctioned near bristol. they are just incredible. - auctioned near bristol. they are just incredible. they - auctioned near bristol. they are just incredible. they are j are just incredible. they are just two marbles. 1930s, 1940s marbles but they changed modern
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welfare as we know it, and that is a real piece of history —— modern warfare. i get goose bumps. they are so incredible, really important.— really important. creating the bouncinu really important. creating the bouncing bomb _ really important. creating the bouncing bomb to _ really important. creating the bouncing bomb to wallis - really important. creating the | bouncing bomb to wallis more than a yearand bouncing bomb to wallis more than a year and countless tests. many viewed through binoculars. a pair of which he presented to michael redgrave who portrayed him in the movie. they are also up for sale. you can 'ust they are also up for sale. you can just imagine _ they are also up for sale. you can just imagine barnes - they are also up for sale. ym. canjust imagine barnes wallis can just imagine barnes wallis on that beach looking through the new creation being tested for the first time. they are just a standard error of world war ii binoculars but what i have seen is incredible and a real, real important moment in our combined social history. they are just incredible things. they are 'ust incredible thins. they are 'ust incredible thin . s. ., they are 'ust incredible thins. ., , things. the detail is absolutely - things. the detail is absolutely fabulous | things. the detail is i absolutely fabulous up things. the detail is - absolutely fabulous up here. things. the detail is _ absolutely fabulous up here. at the bomber command memorial in london's green park, the former chair of the barnes wallis foundation paul beever explained why the raid was so vital to the war effort. i
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think the dambusters rate is special. it demonstrated a key part of the war, the royal air force could take a target of over 500 miles and get back and cause significant damage to the enemy at a time when we were trying to keep the americans on side. the person who announced it all was winston churchill in congress. in it all was winston churchill in congres— it all was winston churchill in concress. ., , ., , ., congress. in the early hours of this morning. _ congress. in the early hours of this morning, a _ congress. in the early hours of this morning, a force - congress. in the early hours of this morning, a force of- this morning, a force of lancaster bomber, led by the wing — lancaster bomber, led by the wing commander attract with mind — wing commander attract with mind the _ wing commander attract with mind the terms of the reservoirs.— mind the terms of the reservoirs. ., ,., .., reservoirs. so, great political success. _ reservoirs. so, great political success, but _ reservoirs. so, great political success, but the _ reservoirs. so, great political success, but the raids - reservoirs. so, great political success, but the raids came i reservoirs. so, great politicall success, but the raids came at a heavy price. eight aircraft were lost and 53 crew died. 0n the ground, it is believed the flooding after the dams were breached killed 1600 civilians. but after almost four years of war, the audacity, bravery and
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ingenuity of operation chastise as it was known provided a huge boost for british and allied morale. ii boost for british and allied morale. , ., boost for british and allied morale. ,, ., ., ~' boost for british and allied morale. y., ., morale. if you look at the skill that _ morale. if you look at the skill that is _ morale. if you look at the skill that is there, - morale. if you look at the skill that is there, that i morale. if you look at the skill that is there, that is| skill that is there, that is huge, but also, the technology, specially modified lancaster and of course the bouncing bomb, it's actually not a bomb, it's a mind, but all done because of the magic of marbles. in because of the magic of marbles-— because of the magic of marbles. ., , , ., marbles. in those marbles are exect marbles. in those marbles are exoect to _ marbles. in those marbles are expect to defect _ marbles. in those marbles are expect to defect up _ marbles. in those marbles are expect to defect up to - marbles. in those marbles are l expect to defect up to £6,000, the price of a very small, but very important part one of the second world war �*s greatest stories. john maguire, bbc news, bristol. now, before we 90, news, bristol. now, before we go, a quick look at financial markets. in asia, it's a really quiet day because the main market injapan and in mainland china and south korea are closed for a public holiday. the hong kong is trading and in hong kong it is actually their
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property index down by more than 3%. just to mention of cause in china in particular things are really tricky right now, the airport in shanghai is shut, a typhoon has been ripping through there, causing quite a lot of chaos. that is the latest here on bbc news. i will see you soon. hello, there. well, we've seen plenty of sunshine throughout the weekend, also a few outbreaks of rain for some, but that is the last of the wet weather that we'll see for quite a few days yet, because for much of next week, it's looking dry and settled. high pressure dominant, more sunshine and it will feel warmer by day and milder by night, too. just watch out for the possibility of some rather murky mornings, with mist and fog patches developing, especially where the winds stay light. now, here's that area of high pressure building in from the south west. it's centred more or less right over the uk, as we head through monday, deflecting these low—pressure systems out towards the north and the west.
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now, as we head into monday morning itself, there'll be some mist and fog, particularly for north—west england, southwest scotland, perhaps. it's milder towards the south with that legacy of cloud for a while, coolest out towards the north and the east, but a whole range of temperatures as we start off the day. now, the mist and the fog will readily lift and clear as we head through the morning, and there'll be plenty of sunshine around, lots of blue skies. high cloud turning the sunshine hazy at times. more of a breeze out towards the far south and the east. we could see one or two very isolated showers for kent, but it's still unlikely. more cloud for northern ireland later on through the day, and temperatures in the high teens, the low 20s. 21 celsius for parts of central and eastern england — it's close to the seasonal average. and then, on tuesday, well, we could see any mist and fog, really, across parts of yorkshire, lincolnshire, down through the east midlands, more of a northeasterly wind for east anglia, southeast england here, and a bit more in the way of cloud for northwest scotland, but with a southwesterly wind blowing, then, for parts
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of the moray firth, the highlands, temperatures could reach 21 or 22 celsius, so certainly feeling warm here. wednesday and thursday, our area of high pressure starts to meander further northwards and eastwards. it's still dry towards the north. towards the south, we'll see more of an easterly breeze take hold, but it is going to be feeling warm here. again, there's a more noticeable northeasterly blow. windy through the channel, perhaps, but 24 celsius in central southern england and southeast england, and again 21 or 22 celsius for those sheltered areas of scotland. so here's the outlook for our capital cities, then, as we head through the week. there's a lot of sunshine around. it's dry and it's settled. we could potentially see a few showers break out on friday. bye— bye.
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good morning. welcome to breakfast with sally nugent and jon kay. 0ur headlines — donald trump is unharmed after an apparent assassination attempt. a man has been detained after secret service agents found a rifle in bushes near to where the former president was playing golf. they was playing golf. have an agent who jumps one hole they have an agent who jumps one hole ahead of time to where the
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president is at, and he spotted a rifle barrel sticking out of defence. —— out of the fence. former bbc news reader huw edwards is due in court this morning, where he is expected to be sentenced for charges involving indecent images of children. ignored safety warnings and an unconventional design — a public hearing today will examine what when wrong with the titan submersible, on which five people died travelling down to see the wreck of the titanic. we look at the changing market of advent calendars. it's been billed as sport's trial of the century. champions manchester city face 115 charges for allegedly breaking premier league financial rules
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