tv Business Today BBC News September 26, 2024 12:30am-12:45am BST
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stimulus measures, we look i have pledged that building a strong middle class will be a defining goal of my presidency. ms harris said her plan would lower costs for americanfamilies, invest in entrepreneurs and ensure america leads in future industries like artificial intelligence, built here in america by american workers. the focus on finance
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comes as several polls built here in america by american workers. the focus on finance comes as several polls show donald trump's lead on the economy is narrowing with voters. the former president campaigned in the battleground state of north carolina today, where he went after his opponent. kamala's not attacking me. she's attacking your furniturejobs, she's attacking your communities, she's attacking your factories, and she's trying to send all of those jobs to china with everything else. a day earlier, mr trump warned companies making products abroad would have to pay a substantial tariff, sparking criticism within his own party. i'm not a fan of tariffs. they raise prices for. american consumers. both candidates say they want to lift up workers and help the middle class. how they think that can be done is profoundly different. michelle fleury, bbc news, new york. we are expecting an interview
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with kamala harris to air on nbc. we will bring you updates in the coming hours. i believe thatis in the coming hours. i believe that is airing now, and you can find out many more of our live coverage and analysis on the us presidential election on our website. bbc.com/news. there is a lot to come as we are less than a0 days to the polls. chatgpt maker openai will soon lose its chief technology officer. mira murati, who has been with the firm for six and a half years, says she made the decision to "create the time and space to do my own exploration". her departure comes as the microsoft—backed start—up is pursuing a new funding round. the asian development bank has released its latest economic forecasts for developing asia, and things are looking up. growth has been upgraded to 5% for the year, thanks to increasing demand for goods produced in the region like semiconductors.
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inflation as well is showing signs of easing. the adb sees consumer prices cooling to 2.8% this year, which could push more asian central banks to lower their cost of borrowing. albert park, chief economist at the adb, told me how china fits into this picture. we're maintaining our growth forecast for china, although things continue to evolve, obviously. 4.8% is still below the government's own projection — and target — of 5%. we've seen the property market be a continuous drag, and although the government announced recent stimulus measures — which were very coordinated across a number of regulatory agencies, so they're trying to signal strongly that the government is trying to support recovery in the sector — we still see very pessimistic consumer and investor sentiment, and so it's not clear whether that's going to be enough to bring the property market back.
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the good thing, or the opportunity, for china is that inflation is very low — in fact, lower than we expected — and if they think growth is too slow, there is room to have more expansionary monetary and fiscal policy. the recent announcements kind of get the monetary side, the financial side, but there's still scope, i think, to increase on the fiscal side, to try to support especially consumption in the economy, which would help the sentiment recover and hopefully get china's consumers to start buying more. we had a whole raft of stimulus measures just this week. do you think it'll be enough? it's the step in the right direction. i think we'll have to reservejudgment. you know, they reduced the reserve requirement and they lowered the benchmark interest rates modestly. that will help, but again we're also seeing the property
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market downturn kind of hanging on longer than expected. the august numbers show that housing prices actually fell by 5.7%, which is the biggest drop in housing prices we've seen in a while, so that doesn't look like it's going to resolve any time soon. what do you want to see chinese policymakers do to try and improve the situation now? well, they have announced some measures to try and encourage the investment community, "we're open for business, we're open for investment." i think the geopolitics is still creating lots of nervousness and doubt and caution, but especially chinese consumers, so i think it would be great for china's government to think of ways to put more money into the hands of consumers. of course, we saw big stimulus packages during the covid pandemic in western countries. china has not generally preferred to do those types of policies because they feel that they want to support the supply—side, their manufacturing plants, and a lot of the supports that they give are on the supply—side, but i think shifting more markedly to the demand—side. .. there's been a little bit
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of that, but i think there could be a lot more of that. albert park from the adb there. the international monetary fund has approved an estimated $7 billion loan for pakistan. the south asian nation was on the brick of defaulting from its test last year when it had barely enough in foreign currencies to pay for a month of imports. around $1 billion will be disbursed immediately to the country. the rest will be released over the course of three years. turning to the world of art and luxury, christie's has opened its new asia headquarters in hong kong. the auction house holds its first sale today where an array of artwork, including two multi—million—dollar paintings by claude monet and vincent van gogh, will be up for auction. but the global art market has been struggling amid a difficult macro environment. for more, let's bring in the christie's apac head, francis belin.
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thank you very much for your time on the programme. sales were down in the first half for the auction market. what is your outlook for the rest of the year?— your outlook for the rest of the ear? ,., ., ., ., the year? good morning, and welcome _ the year? good morning, and welcome to — the year? good morning, and welcome to christie's - the year? good morning, and| welcome to christie's galleries in hong kong. the sales were down in the first half but the results were very resilient. the rates across our sector were very strong and the prices were very strong and the prices we achieved for the objects were equally strong. we are excited about the second half, we are very excited about this new headquarters we just opened a few days ago. i am hearing the galleries with some of the paintings that are on view behind me and we have our second half starts tonight with the sale of a collection of very prestigious ceramics, at 5pm, and at 7pm we have our evening sale, where the van gogh painting behind me in the
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triptych are going to be option. turning to the lifestream, but we are quite excited and we've seen a lot of interest and tremendous traffic interest and tremendous traffic in our galleries in the last few days. in our galleries in the last few deve— few days. clearly a lot of excitement. _ few days. clearly a lot of excitement. what - few days. clearly a lot of excitement. what does i few days. clearly a lot of - excitement. what does asian demand look like for the world of art and options? and hasn't changed the pandemic? demand has been very — changed the pandemic? demand has been very strong, _ changed the pandemic? demand has been very strong, we - changed the pandemic? demand has been very strong, we have i has been very strong, we have been here in hong kong forfour years and it was time for us to move into our own gallery and to have our own space, just like new york, paris and london have, where we can have our exhibitions, events, options, all in one place, and i think that's a reflection of how strong the demand has been from asian collectors, across categories of art and luxury, and what we see with asian demand, is a very diverse pool of collectors that look for classic, modern, contemporary arts, whether it is western or asian, so i think the very
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unique dna of our sales in hong kong is to bridge influences between east and west and bring all this world of art into one place, and that's exactly what we do tonight, where we have masters from the west and from the east, a dialogue in this 45 let evening sale.— let evening sale. briefly if ou let evening sale. briefly if you can. _ let evening sale. briefly if you can, because - let evening sale. briefly if you can, because we're i let evening sale. briefly if - you can, because we're running out of time, we keep hearing young people are unable to afford anything, let alone invest. are you seeing much interest from youngsters? asia's millennial buyers represented 60% of buying, so we see very strong demand from young collectors. it's a testimony to a generation that has probably more wealth but also how able we have been to engage with them digitally, and i think that's a big change the pandemic is brought to us the ability to present objects but support transactions for a multitude of digital
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innovations. we see very strong demand and that is very specific and stop what i am afraid i have you jump in there. many thanks for your time, mac —— francis belin from christie's. -- francis belin from christie's.— -- francis belin from christie's. �* . , ., ., christie's. and that is all for business — christie's. and that is all for business today. _ christie's. and that is all for business today. thanks - christie's. and that is all for business today. thanks for. business today. thanks for watching.
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hezbollah is an armed group which the uk government and others see as terrorists. israel says it's carrying out big air strikes in the south, and the army chief has told troops to prepare for a possible ground invasion. the un says 90,000 people in lebanon have been displaced since monday. israel has also intercepted a rocket fired towards tel aviv for the first time. hezbollah says it was targeting israel's intelligence h0. now, some other stories. huel has had its third ad banned in the space of two months. the advertising standards authority said it made claims about health benefits and cost savings that couldn't be backed up. huel says it was an editing error. hundreds of thousands of people, including celebs like ashley tisdale and tom brady, have fallen for a hoax that claims by sharing this post, facebook and instagram owner meta won't be able to use their images for training ai. in reality, people can opt out in their account settings. and some parents at a primary school have signed a pledge to delay their child getting a smartphone. that's until the end of year 9, when most children will have turned 14. the school in hitchin has asked
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all the other primaries in the town to do the same. and now, ten seconds of good news. afc wimbledon say they're blown away by donations to repair their pitch after severe flooding caused a sinkhole. newcastle united, who were meant to play them earlier this week, donated £15,000. that's you all caught up — have a good one! hello and welcome to sportsday. i'm sarah mulkerrins. coming up on the programme: a disappointing draw for manchester united, as christian eriksen scores and then gives away the equaliser against fc twente in the europa league. is this the team that launches a revolution in women's football? we find out how money could flow from lake como
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to the women's super league. and england cricket say their captain ben stokes is "on track" to take part in their upcoming series against pakistan. you are very welcome along to the programme, wherever you are watching around the world. the europa league season is up and running — along with a new format that matches the new champions league one. 36 teams are competing in a league stage, before the knockout rounds of matches, and manchester united would have hoped for a better start — they were held to a disappointing 1—1 draw at home to dutch side fc twente, the boyhood club of united manager erik ten hag. with more, here's tom gayle. it was always going to be a memorable night for erik ten hag, welcoming the team he supported, played for and was assistant manager
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when twente lifted their only title to date in 2010. christian eriksen�*s clean strike just inside the box ten minutes before the break saw the hosts edge a tight first half. in the 68th minute, though, the dane saw his pocket picked by sam lammers, who drove straight at andre 0nana before beating him at the near post. after a few hairy moments in added time, the visiting players, staff and fans celebrated the result likea win. as for manchester united, with back—to—back away trips up next in this competition — first porto before heading jose mourinho's fenerbahce — it's far from an ideal start for erik ten hag. there were nine games in total on wednesday, with lots more on results on the bbc sport website.
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