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tv   Business Today  BBC News  September 17, 2024 5:30am-6:00am BST

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amazon scraps its working—from—home policy, ordering its staff to be back in the office live from london, this is business today. five days i'm sally bundock. a week from january. also in the programme: we start in the north sea unions scramble to save jobs where the oil and gas industry says it's made and the desperate search "significant progress" for buyers in reaching emissions targets. is under threat. we are live to belfast according to a report out for the latest. from offshores energies uk and old is the new new that represents the industry, at the london fashion week as it promotes reuse it concludes it has to become more sustainable. seen emissions fall by almost a third since 2018. it says methane emissions have live from london, more than halved since 2018 this is business today. i'm sally bundock. and overall emissions associated with the production of oil and gas have reduced says it's made "significant progress" by 28% in that time frame. if this trend continues, the uk could achieve targets agreed with the government for methane reduction seven years ahead that represents the industry, of the 2030 deadline. but the advocacy group uplift — it concludes it has seen emissions fall by almost a third since 2018. which campaigns for a rapid and fair transition away from oil and gas production — says, "this is all smoke and mirrors. and overall emissions associated with the production
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"these short—term targets were so weak as to be almost 00:01:02,426 --> 4294966103:13:29,429 "impossible to miss." if this trend continues, the uk could achieve targets agreed with the government for methane reduction which campaigns for a rapid and fair transition away from oil and gas production — says, "this is all smoke and mirrors. "impossible to miss." mark wilsonjoins me now from 0euk where he is health, safety environment and operations director. good to have on the programme. what is your response to that, that actually, the targets were easy to meet so that you could have a good, positive narrative about the north sea? the taruets about the north sea? the targets that _ about the north sea? the targets that were - about the north sea? lie: targets that were said about the north sea? tue: targets that were said through the north sea transition deal allow the industry to demonstrate that it in
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infrastructure alone, if used to its full extent in the north sea, would cause three times the emissions as the global carbon budget consistent with a 50% chance of staying below 1.5% degrees celsius. where do we sit when it comes to the international targets for reducing emissions? in allow the industry to demonstrate that it ., ., reducing emissions? in relation to targets. _ international targets for reducing emissions? in relation to targets. _ reducing emissions? in relation to targets, the _ reducing emissions? in relation to targets, the north _ reducing emissions? in relation to targets, the north sea - reducing emissions? in relation to targets, the _ reducing emissions? in relation to targets, the north _ reducing emissions? in relation to targets, the north sea - to targets, the north sea transition deal as i mentioned to targets, the north sea transition deal as i mentioned was a deal that was established was a deal that was established between government and industry between government and industry that was the first of its kind that was the first of its kind of any g7 country. it had to of any g7 country. it had to focus notjust on the supplying focus notjust on the supplying of decarbonisation of oil and of decarbonisation of oil and gas, but carbon capture, so gas, but carbon capture, so that deal is seeing these that deal is seeing these targets being delivered, this targets being commitment of ongoing reductions in emissions, and in
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terms of where we compare, from a methane perspective, we have fared extremely well when we look at our global business, and we should stress that we import in the region of 41% of all of the uk's energy requirements, some of that is imported by a liquefied natural gas, and that has four times the carbon alone, if used
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is maximised where possible the oil and gas production from uk waters. we have demonstrated we can deliver oil and gas in a responsible manner with more reduction of emissions to come. mark, we will have delivered there, thank you for being on there, thank you for being on the programme. let's say with energy. bp has announced some changes as it attempts to move beyond petroleum. the oil giant is continuing to trim its renewables business, putting up
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bp wind energy, its us onshore wind business, for sale. it's valued at $2 billion. the sale includes nine windfarms bp owns outright and its share in a tenth located in hawaii. instead, bp will now focus on lightsource bp, which is the solar energy business it is in the process of buying. i'm joined byjane foley, head of fx strategy, rabobank. hello to you. it is interesting to just really take into accou nt to just really take into account what bp is up to, it is in so many pension funds, there is a lot of scrutiny of bp, shell and their peers as to what their renewables plans are. . , ., are. that is right. you mentioned _ are. that is right. you mentioned the - are. that is right. you mentioned the bp - are. that is right. you mentioned the bp is l are. that is right. you | mentioned the bp is of are. that is right. you - mentioned the bp is of course in the pension funds, and the share price has been lagging, and one reason is because it is assumed to be because bp is alone amongst its peers in actually targeting a reduction in oil and gas production. that target was eased last year under the new management team
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and it is expected to be eased further going forward. the announcement that we had this week about bp selling off its wind farms in the us is linked, they want to move back or produce more renewables in the solar space rather than wind, but there is this whole issue about how much bp are going to pull back on their efforts to increase renewables and reduce oil and gas within the bigger environment. we've got to be a in mind if we get another trumpet government in the us, he is very much in favour of more production and drilling of oil and gas —— trump. perhaps less renewables. there are a lot of themes attached to what bp are doing. lot of themes attached to what bp are doing-— lot of themes attached to what bp are doinu. �* ., i. ., ~ bp are doing. and what you make of this latest _ bp are doing. and what you make of this latest room _ bp are doing. and what you make of this latest room on _ bp are doing. and what you make of this latest room on its - of this latest room on its part, moving out of window and
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going into solar? tt part, moving out of window and going into solar?— going into solar? if we consider _ going into solar? if we consider wind, - going into solar? if we consider wind, there l going into solar? if we l consider wind, there are going into solar? if we - consider wind, there are a lot of issues. if you remember in the uk the issues with respect to when the government may have to when the government may have to rethink what it wants to do in the uk with respect to wind, because higher interest rates, the cost of the materials used to produce it, windfarms, and specifically the uk looking at the expertise to try and actually put up these wind turbines. now, both of them issues in terms of the interest and cost of materials are obviously a bit more universal and perhaps solar from a renewable theme in some areas of the world is more cost—effective. but of course there is that big topic of our dependency still on oil and gas. herthe dependency still on oil and gas. her the previous guests talking about liquid national best —— natural gas, and the us
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is a huge supplier of oil and gas, and that is something, those sorts of revenues are important to governments. brazil is another country that wants to get that revenue of oil and gas and it seems that right now perhaps the world isn't quite ready to give up its dependence on oil and gas. jane, thank you so much. good to see you as ever. amazon is demanding that its employees return to the office five days a week. that's a significant change from its current pandemic—era hybrid policy that requires them to be in the office just three days a week. 0ur north america business correspondent ritika gupta has the details in new york. in a memo sent to employees on monday, amazon ceo andy jassy called for a full return to office at the start of 2025. for the last 15 months, amazon employees have been expected to work in the office three days per week. now, jassy expects five days of in—person work
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from employees in an effort to re—establish pre—pandemic norms of office culture. if amazon employees don't follow the current policy, it could hurt their chances of being promoted, and exceptions for working from home will be subject to an additional layer of leadership approval. jassy has previously advocated that employees work in the office, writing that a physical presence improves company culture. it also comes as amazon has invested into its office spaces in recent years. and jassy is joined by other big tech executives, like tesla's elon musk and salesforce's marc benioff, who have also called for similar return to office mandates. however, it's a push that's proven unpopular amongst some tech workers. last year, a number of corporate employees staged a walk—out at its seattle headquarters, citing multiple grievances, including the push to get workers back in the office. now, let's head to northern
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ireland where desperate attempts are under way to keep alive the flagship belfast shipyard and the three other yards across the uk owned by the shipbuilder harland and wolff. the aim—listed company — best known for building the titanic — has had to call in the administrators again, but says bids for the group's four yards were being finalised and anticipated sales agreed within weeks. the company has a rich history in shipbuilding — the titanic was one of 1,600 ships built at its belfast site between the middle of the 19th century and the present day. but there were doubts over its ability to fulfil a contract for three royal fleet auxiliary ships due to lack of recent shipbuilding experience. let's cross live now to bbc northern ireland's business editorjohn campbell who's been following this story closely. for our international audience, put in context how important this is to belfast, this shipyard. it this is to belfast, this shipyard-— this is to belfast, this
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shi ard. , . ., shipyard. it is a huge part of belfast's _ shipyard. it is a huge part of belfast's industrial - shipyard. it is a huge part ofj belfast's industrial heritage, but it is worth saying that in terms of the number ofjobs provided, the output it creates, it is much less important than it used to be. in its heyday, helen and wolf employed many people. and today it is only about 1500. but this latest version of harland and wolff, it only existed for five years after it was brought out on administration on a previous occasion, hope was his business could get somewhere back towards the glory days and start building large numbers of ships again. but now it is clearly hit a big bump in the road on that, it will not be able to grow in that way and in its current form, so the hunt is on now for a new owner, perhaps an owner with a much stronger balance sheet and one which has reason to variance in
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shipbuilding. which has reason to variance in shipbuilding-— shipbuilding. there isn't any ho -e of shipbuilding. there isn't any hope of further _ shipbuilding. there isn't any hope of further funding - shipbuilding. there isn't any| hope of further funding from the government given the fact that it the government given the fact thatitis the government given the fact that it is producing three ships for the royal navy? tia. ships for the royal navy? no, fundamentally, _ ships for the royal navy? no, fundamentally, it _ ships for the royal navy? no, fundamentally, it has - ships for the royal navy? tic, fundamentally, it has been battling future of getting a £200 million guarantee from the uk government. it will be able to refinance some very expensive borrowings and expand its balance sheet. when the new uk government came in during summer, they looked and said, we are not doing this, we are not putting the taxpayer on the hook for up to £200 million. it is too risky. they acknowledge there is a problem at the company but those are the best way to sort that out is through the market, and that is effectively what is happening now. this administration process really is part of a sealed process. in summary, there has been a restructuring expert, be clear out of the board and eventually a sales process under way run by the
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bank and it is a process which is now continuing and there is hope that we will see some clarity on that in the next couple of weeks, the executive chairman of the business, on the weekend he said deals for the weekend he said deals for the four shipyards can be concluded by the end of october. so shareholders are 0ctober. so shareholders are looking to a wipeout, but i think there is a degree of optimism most of the jobs can be preserved. optimism most of the “obs can be preserved.fi be preserved. 0k. john campbell. _ be preserved. ok. john campbell, thank- be preserved. 0k. john campbell, thank you i be preserved. 0k. john| campbell, thank you for bringing us right up—to—date on that story. let's bring you some other business news. facebook owner meta has banned several russian state media networks from its platforms. in a statement to the bbc, meta says the decision was made after careful consideration, and that enforcement of the ban will happen over the next few days. the move comes after the white house signalled that outlets like russia's rt were being used to carry out covert foreign
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interference activities. intel has a brand—new customer — amazon's aws. the two will co—invest in a custom chip manufactured by intel that will then be used for artificial intelligence computing. the news was part of several announcements by ceo pat gelsinger after a company board meeting last week. in that meeting, intel also announced it was pausing construction at its german and polish factories for two years to cut costs. major plans for londons most famous shopping street will be —— london's most famous shopping street will be unveiled by the city's mayor sadiq kahn later today. oxford street, for generations known for its department stores and other retail locations, will be pedestrianised in an effort to make it "the leading retail destination in the world." the central london street has suffered from increased competition from online shopping, the closure of major department stores and the lingering effect of the covid—19 pandemic, the mayor's office says.
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around the world and across the uk, this is bbc news.
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you are with business today. a battle over control of rupert murdoch's global television and publishing empire began on monday in a reno, nevada courtroom where a judge will consider the contentious matter of succession. murdoch, who is 93 years old, is attempting to change the terms of the family's trust. his two companies are news corporation, which owns newspapers, including the times and the sun in the uk, and the wall streetjournal in the us, and fox, which broadcasts fox news. the billionaire is looking to ensure that, upon his death, the media companies remain under the control of his eldest son, lachlan murdoch, according to the new york times, which obtained a sealed court document detailing the succession drama.
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let's show you who is who in the succession drama. you can see rupert murdoch aged 93 at the top and on the left, prudence murdoch mcleod, elisabeth murdoch, lachlan murdoch, and james murdoch, who are the oldest children over who will gain the most devoted shares and power to control newscorp and fox news. when the billionaire dies. let's discuss this with alice enders, director of research at enders analysis. alice, this is fascinating, and the hbo drama succession is sort of in everybody�*s thinking when we discuss this. tell us what you know. t when we discuss this. tell us what you know.— when we discuss this. tell us what you know. i think what we all know really _ what you know. i think what we all know really does _ what you know. i think what we all know really does come - what you know. i think what we all know really does come from j all know really does come from the new york times in the sense that they are the ones who received a very important leaked document, setting out the substance of the proceedings, which is mainly that the three children, three
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other older children are opposed to the changes that rupert murdoch is suggesting, because it undermines and changes the terms of the trust whereby all four of the children would be equal decision makers upon the parsonage of their father, and clearly, the aim of rupert murdoch is, after having himself retired and install lachlan murdoch in charge of both companies, is to make this change permanent and to give lachlan murdoch a job for life, if you like, leading the company's, the family's compa ny�*s, the family's interest company's, the family's interest in those two companies, and one can imagine that the three siblings that are his peers, would resent that dan feel that that wasn't really the way it was supposed to work out. really the way it was supposed to work out-— to work out. the idea is, as ou to work out. the idea is, as you say. — to work out. the idea is, as you say. we _ to work out. the idea is, as you say, we are _ to work out. the idea is, as you say, we are getting - to work out. the idea is, as you say, we are getting bit| you say, we are getting bit than bob �*s andouille from
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court documents that have been seen, because this is a very tightly controlled case going in a private proceeding in a court. but the idea is that lachlan murdoch gets controlled without interference from his siblings. the other siblings, such as james murdoch, have been very, very hands—on within the media empire. why lachlan murdoch? t the media empire. why lachlan murdoch? ~ ., murdoch? i think lachlan, according _ murdoch? i think lachlan, according to _ murdoch? i think lachlan, according to his _ murdoch? i think lachlan, according to his father, i murdoch? i think lachlan, - according to his father, shares his views. they've been working together for many years now. there was perhaps the right sort of role forjames murdoch or his sister, elizabeth, in the business, although as you say they occupy over important roles. james is very well known for running sky in the uk. perhaps it was always fated to come down to just one person. rupert murdoch himself did
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buyout other interests when he was faced with the same situation, and i think underlying this is a question of whether or not the siblings and their father can't settle on this matter without having to resort to court proceedings, and it still remains possible that there could be a settlement of some kind, although buying out, for lachlan to buy out his siblings would be a very, very expensive undertaking to say the least. absolutely. and the plot thickens as the court battle continues. alice, thank you for talking us through what is at stake. if you would like to know more, do take a look at bbc news online. also, on the news app, which looks at 111.9 billion pounds family trust thatis billion pounds family trust that is in question, and who is running that in the future. london fashion week is 40, and sustainability, has taken centre stage at this
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september's event. 0xfam opened london fashion week with its show called style for change, while ebay held its show endless runway. joining me now is kirsty keoghan, global gm of fashion at ebay. good to have you on the programme. just talk us through this year's team. it is about sustainability and not buying new, is that correct?- new, is that correct? yes, absolutely. _ new, is that correct? yes, absolutely. this _ new, is that correct? yes, | absolutely. this september new, is that correct? yes, - absolutely. this september we announced our first ever pre— loved fashion week, really designed to give the next generation of fashion enthusiast access to shop, really in demand pre— loved fashion. we parted with the counsellor fashion designers in america, in new york, and the british fashion council in london to bring people this runway. it was a live, topical
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runway. it was a live, topical runway show and it featured looks from designers and from trends of really shaping fashion over the last a0 years, and we do this to be circularity of the forefront of one of fashion�*s biggest months, and to remind fashion shoppers that there is an alice array of really high quality, pre— loved design and fashion thatis pre— loved design and fashion that is already available to them at a time when there is usually a really big focus on newness. usually a really big focus on newness-— usually a really big focus on newness. , , ., newness. this is so important in our newness. this is so important in your industry _ newness. this is so important in your industry because - newness. this is so important in your industry because we i in your industry because we know the fashion industry, when it comes to throwing stuff away and waste, is to be one of the worst offenders, but i have to say, in recent years, so many big names in the world of fashion have really grabbed this by the neck, have a may, when it comes to the idea of renewables and sustainability? look, i think everything the industry is doing is great, but we can no longer ignore the need for more sustainable
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solutions in the fashion industry, and our show was demonstrated just how incredible pre— loved fashion can look on the runway during a busy fashion moment, and it is great to see more designers embracing ourfocus on embracing our focus on sustainability embracing ourfocus on sustainability and embracing our focus on sustainability and circularity. that is ray ban, patrick mcdowell, and i would say it is not necessarily the norm yet... it is definitely not the norm. we wish it was, that would be amazing. that would make a huge difference to emissions targets globally. difference to emissions targets aloball . , , globally. yes, exactly. there is a real increasing _ globally. yes, exactly. there is a real increasing customerj is a real increasing customer demand for making more sustainable choices. we see from our customers, they search for vintage over 1000 times per minute globally on ebay, so i would say it is a real movement from customers to shop more sustainably, and it is really great to see brands industry starting to embrace and test
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new solutions.— starting to embrace and test new solutions. also as well, it is slightly _ new solutions. also as well, it is slightly driven, _ new solutions. also as well, it is slightly driven, would - new solutions. also as well, it is slightly driven, would you . is slightly driven, would you argue, by the cost of living crisis, it is actually cheaper to buy something that has been worn by someone else, a lot cheaper. very briefly. absolutely. it is a great friend we have seen where people have got less money, they want to buy classic and good quality items, and pre— loved items are a great way for them to invest in brands that they really want to own in their wardrobe.— they really want to own in their wardrobe. thank you so much. their wardrobe. thank you so much- good _ their wardrobe. thank you so much. good to _ their wardrobe. thank you so much. good to get _ their wardrobe. thank you so much. good to get your- their wardrobe. thank you so much. good to get your take | their wardrobe. thank you so i much. good to get your take on london fashion week. that brings to a close another business today. i hope you enjoyed it. iwill see business today. i hope you enjoyed it. i will see you soon. hello. on monday, we had an area of high pressure establish itself across the uk, and with that came plenty of sunshine. for example, here in capel curig, and just to the south in ceredigion, we had the day's highest temperature — up to 22 degrees
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in the warmest spots. now, you'll notice a bit more in the way of clouds towards the northwest, and, indeed, over the next few hours could see some splashes of rain work into shetland for a time. quite breezy conditions here. watch out for a few mist and fog patches over the next few hours forming across parts of northwest england, wales, the west midlands and southwest england too. visibility could drop down to about 100m in the densest of those fog patches. so, it's quite a chilly start to the day with temperatures down at around 5 degrees in the coldest spots. the high pressure, though, is here to stay for the next few days. now, starting off on tuesday, a bit of rain clearing away from shetland, might see a few patches of cloud across east anglia first thing, but it should brighten up with some sunshine here, and any mist and fog patches clearing to reveal another beautiful day. plenty of autumn sunshine and those temperatures very similar to those on monday — high teens to low 20s. one of the warmest spots could end up being northern scotland with highs here of 22, western counties of northern ireland, 21. middle parts of the week,
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perhaps a bit more in the way of cloud just to start off across parts of england, east wales that will thin and break with time, and there will be more of a breeze blowing for east anglia in the southeast of england. quite breezy for the far north of scotland too, but otherwise, it's another beautiful day. after a chilly morning, there'll be loads more sunshine and temperatures 23 there for northern scotland, a 2a in southeast england. these temperatures are quite a bit above average for this time of the year. it's a case of spot the difference, really, for thursday. again, a few mist and fog patches, a few patches of cloud initially, but loads and loads of sunshine to come as we go on through the afternoon. top temperatures — 2a again around london, a 22 for western scotland, and we're still around 20 degrees or so for western counties of northern ireland. it will feel warm in that september sunshine. we do, however, start to see some signs of a change in the pattern through friday and into the weekend as low pressure starts to threaten from the south. this looks quite likely to bring us some heavy, thundery showers or some longer spells of rain across england and wales. but at this stage,
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it looks like scotland and northern ireland, probably northern england, should stay fine well into the weekend.
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good morning, welcome to breakfast withjon kay and sally nugent. 0ur headlines today. a 22% pay rise forjunior doctors. the government says the deal is key
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for the nhs, but medics warn of further action if wages don't keep up with inflation. donald trump describes being bundled into a golf cart and hearing shots ring out during a suspected assassination attempt as police footage reveals the moment a gunman is arrested. a0,000 people in an entire polish city are told to leave their homes, as flooding overwhelms parts of central europe. good morning from the university of leeds, where those freshfaced freshers are beginning to arrive. with the average english student graduating 0wen close to £50,000, we ask how heavy that debt is weighing. in sport, the wait is nearly over. a2 years on from winning the european cup, aston villa return to the competition that produced their most famous night in what will be a poigniant night for the club. meet nazare, the injured turtle
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washed up in cumbria, now making waves in the warmer waters of the azores. and another dry and sunny day foremost across the uk but a chilly start for some, all of the details here on breakfast. good morning. it's tuesday the 17th of september. junior doctors in england have accepted the government's offer of a 22% pay rise over two years ending a dispute which prompted

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