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tv   Business Today  BBC News  October 1, 2024 3:30am-3:45am BST

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in the us. tens of thousands of dock workers are about to walk off the job at around 1a seaports along the east and gulf coast. that could cause delays and a drag on the economyjust weeks before a divisive presidential election. the two major sticking points between the international association and maritime alliance of wages and automation. workers are unhappy with the current contracts which spanned the pandemics when dockworkers stayed on the job and enjoyed months of soaring inflation. on automation, the union boss has been warning jobs could be replaced by machines. in response, that us maritime alliance says it is offering to keep the current ban on fully automated equipment. a strike could cost $5 billion a day according tojp morgan analyst. everything from raw materials
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and pharmaceuticals, to clothes and toys, with ports accounting for more than half imports in containers. if it extends for weeks, it could lead to shortages and high prices ahead of the presidential election. that is something the new york governor weighed in on. the potential for disruption is significant. we have not had an event like this in our ports since 1977 and that lasted 12 days. we are deeply concerned about the impact that a strike could have on our supply chains, especially when it comes to critical goods like medical supplies and others. under the 1947 act, president biden has the authority to order workers back to work but the current administration said it would not intervene and encourages all parties
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to keep negotiating in good faith. the chairman of the federal reserve has dampened hopes of another big rate cut. he was speaking in tennessee and added the central bank was not in a hurry to cut rates. indexes saw price falls during the speech but have since recovered. not much reaction here in asia to those remarks. but they are watching a japanese survey measuring business optimism among japanese companies and it has come in largely unchanged. it comes as shigeru ishiba is to be sworn in as prime minister. how are they feeling, the markets? they are definitely not too thrilled about shigeru ishiba. he isa he is a known expert on defence and security and not on the economy and exactly. have been speaking to a couple of
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economists to find out how they think he would tackle all the challenges facing the economy. he understands revitalisation of the economy particularly through the region is very important and what he is trying to do is most of all put some discipline into our fiscal measures which i feel there is nothing wrong considering this is a country with 200% that of gdp with the second lowest birth rate. gdp with the second lowest birth rate-— gdp with the second lowest birth rate. , ., ., birth rate. the professor also emphasised _ birth rate. the professor also emphasised the _ birth rate. the professor also emphasised the ball- birth rate. the professor also emphasised the ball is - birth rate. the professor also emphasised the ball is in - birth rate. the professor also emphasised the ball is in the| emphasised the ball is in the god of japanese businesses which are feeling quite confident according to the latest survey by the country's central bank which came out in the last hour or so. if that businesses and upholding the cash instead of reinvesting or raising wages as they did not do for many decades until very recently, then the impact on the actual economy would be quite limited. as we have been reporting about it, shigeru
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ishiba has also called for snap general elections for the 27th of october which is a lot sooner than what he promised during the election campaign. we will see the public has a clear idea about what he wants to achieve at the new prime minister of the country and enjoy a honeymoon victory or this could backfire as well. from today, can a double tax chinese made electric vehicles at ioo%, following similar moves by the us and eu. they are all concerned china's cheap cars are distorting the market unfairly. we have been speaking to the canadian trade minister. we know that china has an intentional state directed policy of overcapacity and that they generally do not have... do not meet the same labour and environmental standards as canadian producers do so these tariffs are really a necessary measure to counter those
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practices that really distort competition and what you are seeing in canada's decision is a decision that will ensure we stand up for our workers and manufacturers and that we are building those evs of the future and standing up for fair trade. china has already retaliated. your canola produces look like they are in the firing line. can you afford to win a trade war against the second biggest economy? i am hoping we are not entering a trade war. we are hoping this is about making sure we are countering practices that are distortive in the global marketplace but on the issue of canadian canola, no—one has ever accused canadian producers of ever dumping into a market. canadians are fair traders. you say you are not interested in trade war but your government is already
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looking at tariffs on chinese ev batteries, semiconductors, solar products and critical minerals. are you sure that will not lead to a trade war? that is intended is to create a level playing field. we are imposing a 25% on steel and aluminium products. that will come into effect in the middle of october. we're trying to stand up for a fair trading system. brian kingston explains how the levies are likely to impact the domestic car industry. the most important thing to understand is that this was a pre—emptive measure. we do not have any chinese manufacturers currently selling vehicles in canada. the government has done this to ensure there is time provided for all the $40
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billion auto investments over the last four years into evs assembly we need them to ramp up and start producing. and secondly we have to remain aligned with the united states also approach to china. our industry exists because we have always aligned our policies with the us and taken this action will ensure that canada has the same approach to china as the americans. is canada as we heard from the trade minister, ready for a trade war with china if that is where it leads? i do not think that will happen. we have seen some action in china for response but it is important to look at the broader trade picture for the canadian economy. canada is very fortunate to sit beside the largest, most dynamic economy in the world, in the us. our economic prosperity always has and always will depend on access to the us so while trade turbulence with china of course has a negative impact on canada, if we are not
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on—site with the americans on this approach to china, we would have far larger economic concerns on the horizon. what does this mean for canadian consumers who might be wanting to purchase a cheaper ev car. right now it will not have an impact because we did not have any chinese manufactured ev cars in canada. there was an increase in the last year of electric vehicles from china. that was largely from tesla vehicles manufactured in shanghai. there are some changes but canadians have access to 80 vehicle models and it is growing rapidly every week as you products are brought into the market. ——week as new products are brought the big question is can we hit the aggressive targets the federal government has set which is ioo% ev sales.
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that is a big climb. shares in aston martin have fallen by more than 20% after a warned of lower profits this year. they can are famed for its links to james bond says it has been hit by falling sales in china and supply chain issues. there has been increased competition fromabroad. google has announced it will invest $1 billion to build a new data centre in thailand. the tech giant estimates 111,000 jobs will be created as a result of the investment. thailand's from minister says the investment is perfectly aligned to the goal of developing cloud competing infrastructure and a centre in malaysia has been under construction today. you can find the latest on the situation and the middle east with a live page on our webpage
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stop a lot of context and background to development. also a feature on the chinese economy in conjunction with our data and fact checking team. looking at how people and what they are concerned in china in terms of their finances. see you again soon, bye for now.
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hey, i'm ben with the catch—up. tonight: baby reindeer, the end of uk coal and a massive hacker. but first, the us reports israel is currently conducting a limited ground operation against hezbollah in lebanon. it comes after another day of airstrikes being carried out across the country by the israeli military. speakinhg earlier, the deputy leader of hezbollah said they were ready for a ground offensive. some other stories now. netflix has failed to prevent a defamation lawsuit against them over they hit tv series baby reindeer. a us judge found the show was wrongly described as a true story, stating that netflix made no effort to fact check the story or to disguise the identity of the real—life people it claims to be based on.
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a bbc investigation has found that mcdonald's and some uk supermarkets failed to spot slavery. it found that multiple signs of slavery were missed after a criminal gang trafficked nine men from the czech republic and forced them to work at the mcdonald's and a factory supplying bread products to shops. mcdonald's uk said it had improved systems for spotting potential risks. and the uk stopped producing electricity from burning coal. the country's last coal powered station near nottingham closed on monday, meaning an end to a 142 reliance on the fossil fuel. time for ten seconds of record—breaking. new zealand has regained the world record for the most people taking part in the haka, a traditional mauri dance made famous globally by the all blakcs rugby team. ——mauri dance made famous globally by the all blacks rugby team. over 6,000 people took part. incredible. right, you are all caught up. have a great night.
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hello and welcome to sportsday. i'm jane dougall. the drip drip drip of criticism — the manchester united manager is expected to stay despite that embarrassing loss to tottenham. a convincing win for bournemouth who are up to 11th but their rival southampton are in trouble after thei 3—1 loss. after the 3—1 loss. and a landmark deal at hampshire are to become the first county
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cricket side owned by an overseas franchise, the delhi capitals. hello and welcome to the programme. we start with speculation over the future of manchester united manager erik ten hag. he is expected to stay. and senior sources at the club have told bbc sport that it is business as usual ahead of man us two upcoming matches this week against porto and aston villa. that is despite united falling to 13th in the league after a comprehensive 3—0 loss to tottenham. they have just seven points. the club'sjoint fewest after six games of a premier league season. however, erik ten hag says he needs time. we all made it in togetherness,
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this decision to stay together and what we have to improve as an organisation

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