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tv   Business Today  BBC News  October 24, 2024 2:30am-2:45am BST

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on a new deal which could end a six—week long stand—off. plus — the imf warns the world to avoid a global trade war. we'll have our exclusive interview with gita gopinath just ahead. i'm steve lai. hello and welcome to business today. we begin in seattle where boeing workers have just finished voting on a sweetened contract offer which includes a 35% pay raise over four years. remember, they rejected a 30% hike last month, resulting in an ongoing strike which has lasted for almost six weeks. ritika gupta is live in new york with the latest — where are we with the vote? well, as you mentioned, the boeing machinists have voted in the latest contract offer which could potentially end what's been six weeks worth of
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strikes. the voting closed up 5p and pacific time so we are still waiting for those results, there are still encountered. but on the table was a 35% wage increase for over the next four years, about 33,000 unionised workers, mostly in seattle, have voted on this. the workers previously rejected a 30% increase to wages as a said it wasn't enough to cover the increased cost of in them. the union instead was pursuing 40% gross to way to wages and returning to way to wages and returning to traditional pension plan that has been frozen a decade ago. in terms of getting the deal through, they need a simple majority, votes of over 50% to determine the outcome and if the deal goes through the workers would be expected to be back on their shifts by the 31st of october.- the 31st of october. what happens _ the 31st of october. what happens if _ the 31st of october. what happens if the _ the 31st of october. what happens if the vote - the 31st of october. what | happens if the vote doesn't the 31st of october. what - happens if the vote doesn't go through, if it is rejected? 50 through, if it is re'ected? so if this through, if it is rejected? sr if this deal is rejected, both
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sides are likely going to have to get back to the negotiating table. for boeing, for its new ceo, those restructuring plans will be stalled, and we know that the financial costs for boeing are already under a lot of strain, they announced a quarterly loss of $6 billion, the worst since 2020, they have halted production of keyjets and there is likely to be more delays there but even outside of boeing there are economic applications. the suppliers are being impacted, they might have to cut for production, there could be more lay—offs there. you imagine for these boeing workers, many of them not in pain, there would be eager to get back to work and start getting wages again so the stakes are high on several fronts. . ., ~ , ., fronts. thanks for keeping an e e on fronts. thanks for keeping an eye on that- _ fronts. thanks for keeping an eye on that. we _ fronts. thanks for keeping an eye on that. we will- fronts. thanks for keeping an eye on that. we will come . fronts. thanks for keeping an l eye on that. we will come back to you when vote hopefully does come in. the vote comes as boeing reported a $6 billion loss in the third quarter. anna rathbun from c—biz laid out the financial strain the company is currently under.
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it's about 100 million, by some estimates, that is a huge number. in order to really stop this, it is really not about these negotiations that hopefully will end today, it is really about fixing the culture going forward otherwise boeing will continue to have these problems. they are just kicking the can down the road to the next negotiation. i believe the new ceo talked about that today during the line —— like the earnings report, talking about fixing the trust issues between workers and management and hopefully be able to come to the table in good faith from both ends to arrive at a contract, a good trusted contact negotiation. tell us what else _ contact negotiation. tell us what else the _ contact negotiation. tell us what else the ceo - contact negotiation. tell us what else the ceo has - contact negotiation. tell us what else the ceo has to i contact negotiation. tell us i what else the ceo has to deal with, he is new to thejob what else the ceo has to deal with, he is new to the job and the prospect of lay—offs is also out there despite the strike. �* ., ., .,
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strike. boeing have had their problems. — strike. boeing have had their problems, they _ strike. boeing have had their problems, they have - strike. boeing have had their problems, they have had - strike. boeing have had their problems, they have had thej problems, they have had the credibility problem with the plains and there is a different problem with regulators, there is also a balance sheet problem with debts. it's going to be hard, it's not going to be fixed in a year or two, it will be a longer term sort of harmonious project between the workers and management, but for the time being, probably what is more of an emergency is that debt problem on their balance sheet. ~ ., ,., debt problem on their balance sheet. ~ ., ., ., , sheet. we also had earnings from tesla- _ the company reported a beat on profits for the third quarter, but it was really its guidance that got investors excited. elon musk�*s company now estimates a 20% to 30% bump in vehicle sales next year. that news sent shares of tesla soaring 12% on wall street. 0ur north america tech correspondent lily jamali has the details. tesla shares were under pressure going into this earnings report because there were indications of the company being poised to post its
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first—ever annual decline in vehicle deliveries in 202a. that appears to be no longer the case, the company saying it is forecasting a slight growth for this year, and bunkers growth in the order of 20 to 30% for next year. when you hear about elon musk talk about the company, these days he is trying to position it is not just an electric vehicle maker but a company that is more focused on the broader array of technologies including artificial intelligence and self driving technology. we saw the roll—out of the cyber cabinet last month in los angeles. but the safety of the company's technology has been a persistent issue for tesla. last week the us safety regulators announced it is opening a probe into the company's driver assistance compa ny�*s driver assistance technologies. there company's driver assistance technologies. there is concern that the self driving ambitions of the company are untested. then there's the of elon musk�*s politics. in the us presidential election he has thrown his support behind
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donald trump, some say that is a turn—off or would be tesla customers. let's turn now to the imf—world bank meetings currently taking place in washington. the us economy has been in focus — with the imf upgrading its growth forecasts for 2025. but concerns are rising over the outcome of the us election next month. the bbc�*s faisal islam sat down with the imf�*s deputy managing director gita gopinath, and asked her if she's concerned about a broad—based trade war, should donald trump get re—elected. if you look at the group of g20 countries, the us is the only country where the level of gdp is higher now than we had predicted before the pandemic. we said, well, in 2024, will head an estimate of what the projection of the level of gdp would be in the us in 2024, it is higher than that. but would be in the us in 2024, it is higher than that.— would be in the us in 2024, it is higher than that. but one of
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the flip side — is higher than that. but one of the flip side of— is higher than that. but one of the flip side of that _ is higher than that. but one of the flip side of that is - is higher than that. but one of the flip side of that is high - the flip side of that is high levels of debt, and ongoing deficit into the future, even before the presidential election. is there any concerns about the us and its fiscal position?— about the us and its fiscal position? one of our main messages _ position? one of our main messages at _ position? one of our main messages at these - position? one of our main i messages at these meetings position? one of our main - messages at these meetings is that the world is sitting on very high levels of debt, and also we are projecting a debt will continue to grow. right now the world is sitting at about $100 trillion of debt, it is the point we have made that given how strong the us economy is, it doesn't really need this level of fiscal, size of fiscal deficit, our recommendation always, this is true for all countries, is that this is the moment to rebuild your fiscal buffers. ~ ., �* ., ., , buffers. we don't want to be drawn too — buffers. we don't want to be drawn too much _ buffers. we don't want to be drawn too much into - buffers. we don't want to be drawn too much into the - drawn too much into the presidential election but in general terms, when you have a potential policy, notjust of targeted trade barriers but
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general 10%, 20% tariffs on everything from every country, what is that going to do to the economy from the economist perspective? we economy from the economist pempective?_ economy from the economist perspective? economy from the economist --ersective? ~ ., ., perspective? we have looked for instance, perspective? we have looked for instance. if— perspective? we have looked for instance, if you _ perspective? we have looked for instance, if you have _ perspective? we have looked for instance, if you have small - instance, if you have small levels of fragmentation, the effect on world gdp is small, about 0.2% but if you have serious decoupling and broad scale use of terrorists, you could end up with a loss of scale use of terrorists, you could end up with a loss of close to 7%. so these are very close to 7%. so these are very large numbers, 7% is basically large numbers, 7% is basically losing the french and german losing the french and german economies, that's the size of a economies, that's the size of a loss. ., , ., , loss. ., , ., , loss. so there would be a big trade war _ loss. so there would be a big trade war _ loss. so there would be a big trade war between _ loss. so there would be a big trade war between _ loss. so there would be a big trade war between the - loss. so there would be a big trade war between the us . loss. so there would be a big | trade war between the us and europe and china and japan all loss. so there would be a big trade war between the - loss. so there would be a big trade war between the us . loss. so there would be a big | trade war between the us and europe and china and japan all joining in. it europe and china and japan all joining in. it europe and china and japan all “oininu in. ., , europe and china and japan all joining in-_ joining in. it would be a very “oininu in. ., severe fragmentation. - joining in. it would be a very severe fragmentation. we i joining in. it would be a very i severe fragmentation. we are not there _ europe and china and japan all joining fragmentation. irate europe and china and japan all joining fragmentation.- severe fragmentation. we are not there _ severe fragmentation. we are severe fragmentation. we are not there yet. _ severe fragmentation. we are not there yet. are _ not there yet. _ severe fragmentation. we are not there yet. are _ severe fragmentation. we are not there yet. are you - not there yet. are you optimistic for the bad economy severe fragmentation. we are not there yet. are you - not there yet. are you optimistic for the bad economy right now? we right now? irate optimistic for the bad economy right now?— optimistic for the bad economy right now?— right now? we have to look at the bright _ right now? we have to look at the bright _ right now? we have to look at the bright side, _ right now? we have to look at the bright side, it _ right now? we have to look at the bright side, it is _ right now? we have to look at the bright side, it is a - right now? we have to look at the bright side, _ right now? we have to look at the bright side, it _ right now? we have to look at the bright side, it is _ right now? we have to look at the bright side, it is a - right now? we have to look at the bright side, it is a world i the bright side, it is a world that has been resilient right now? we have to look at the bright side, it is a world i the bright side, it is a world that has been resilient upstarts are very tough knocks, upstarts are very tough knocks, inflation has come down, growth inflation has come down, growth is at 3.2%, we would love it to is at 3.2%, we would love it to be higher but it's not there, be higher but it's not there,
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given all the shocks the world given all the shocks the world has faced but we te; you has faced but we have to prepare for what may come in the future. mcdonald's is still dealing with an e—coli outbreak that was first announced to the public on tuesday. around 50 people have been hospitalised and one person has died but the cdc has warned that more cases are to be expected. the bbc�*s michelle fleury has more from new york.
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the bbc�*s michelle fleury he support rom new york. the bbc�*s michelle fleury he support this new york. the bbc�*s michelle fleury he support this investigation. to support this investigation. we will continue to update you on the actions we are taking. mcdonald's is still trying to find out exactly what ingredient caused the illnesses but there have been one death and at least 49 people have become sick. in ten states including colorado and nebraska. this comes at a tough formed mcdonald's as they are dealing with the first drop in sales since 2020 as americans spend less on eating out. asian markets are broadly trading lower this thursday, with hong kong leading the declines. the china market are also trading lower. we're still waiting for the result of the boeing union vote, we'll get you the latest on that later on the show. thanks for watching.
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hey, i'm lola with the catch up. tonight — idris elba plans a move to africa, safe sex for seagulls, and tom holland's spidey senses are back. but first, firearms officers
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who face trial over shooting a suspect will have their identities hidden unless they are found guilty. that's been announced by the government minister responsible for public safety. it comes after officer martyn blake was found not guilty of murdering 24—year—old chris kaba, who was shot and killed after police stopped him in a car in south london in 2022. his family say they were devastated and will fight for justice. some other stories now. two survivors of the manchester arena bombing have won a high court harassment case against a former tv producer who falsely claimed the attack was staged. martin hibbert and his daughter eve sued richard hall for harassment and data protection. it was the first case against a conspiracy theorist in the uk. and idris elba has announced plans to move to africa and invest in its booming film industry. the actor has several ongoing projects across the continent, including a film studio in ghana and an eco—friendly city in sierra leone.
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and do you think seagulls are a menace? well, one west midlands town certainly does, and they have a new tactic to deal with them. seagull food in worcester could be laced with contraceptive pills to reduce their numbers following reports of attacks. time now for ten seconds of some good news, sure to get your spidey senses tingling. it's happening. cheering yep, tom holland has announced that his fourth spider—man movie will begin shooting next summer. you're all caught up. have a great night. hello there and welcome along to sportsday. i'm gavin ramjaun. barcelona thrash bayern munich 4—1 in the champions league thanks to a hat trick from rafinha.
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we hearfrom england captain ben stokes ahead of england's test series decider against pakistan on thursday. and 0leksandr usyk and tyson fury face the media and each other ahead of their eagerly anticipated rematch later this year. hello there and welcome along to the programme. and we start with another evening full of goals in the champions league on wednesday. none more so than at barcelona, who got the better of fellow european heavyweights bayern munich in some style. raphinha's hat trick helping them to a 4—1win. the winger opened the scoring in the first minute before harry kane equalised for bayern in the first half. robert lewandowski restored barca's advantage before two more superb finishes from raphinha sealed the points for the home side, who get their second win of the competition.
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in these games,

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