so, what next for boeing? it's process it is at a crossroads, with losses amounting to billions of dollars and an impasse with its employees. this giant comes of mercedes, as chinese consumers stop spending on luxury.- as chinese consumers stop spending on luxury. there are not enough — spending on luxury. there are not enough local— spending on luxury. there are not enough local people - spending on luxury. there are not enough local people to . spending on luxury. there are not enough local people to doi not enough local people to do the work that we need to. how americans are struggling to balance the desire for low

emigration with the need for more young workers. welcome to business today. what next for boeing? that is the big question at the moment. the aeroplane maker's boss has warned his company that the company is at a crossroads as losses at the firm surged to roughly $6 billion. this week striking boeing workers rejected a new officer from the plane making giant, which included a 35% pay rise over four years. around 33,000 boeing employeesjoined four years. around 33,000 boeing employees joined the walk—out, which started on the 13th of september after an initial offer was rejected. the white as it intervened, saying it was encouraging boeing and the union to continue working to reach a deal. let's get more on this now with our international business correspondence theo leggett. you have been following this

story for months. the big question, could you point out the options, what next for boeing? fix, the options, what next for boeina ? ~ ., the options, what next for boeinu? �* ., ., the options, what next for boeing?— boeing? a solution to this dis - ute boeing? a solution to this dispute has _ boeing? a solution to this dispute has to _ boeing? a solution to this dispute has to be - boeing? a solution to this dispute has to be found i boeing? a solution to this i dispute has to be found and political pressure for a solution to the dispute will be mounting. you mentioned the white house getting involved secretary was involved in drawing up the latest offer which boeing workers recently rejected. i think that kind of pressure will increase because it is extremely expensive for boeing for starters. the company is losing anywhere between $1 billion —— $1 million and $5 million a month. it is expensive for its network of suppliers, as well. in washington state where the structure happening and

throughout boeing is clear it does not want to return to that sort of pension, it is too expensive. lots of companies have removed his pension now there are no signs of it coming back. it may have to offer their workers something else in exchange if they are to back down at their demands for reinstatement of those more lucrative pension schemes. thank you very much for that. mercedes—benz has been feeling

the effects of caution from consumers in china. the luxury german car maker says its latest earnings fell by 64% as fewer people in the chinese market were buying luxury goods. it comes after the premium car—maker cut its four—year profit target twice in recent months, joining a growing number of european rivals claiming a weakening chinese car market for falling profits. earlierthis chinese car market for falling profits. earlier this year the company also delayed plans to become an electric only brands by 2030 and made slowing uptake. let's get more on this with the head of all 2—step infrastructure research at bmi. annamarie, thank you for joining us. we have had a number of comments coming from mercedes. what were the main takeaway is for you? i mercedes. what were the main takeaway is for you?— takeaway is for you? i wasn't surprised _ takeaway is for you? i wasn't surprised to _ takeaway is for you? i wasn't surprised to see _ takeaway is for you? i wasn't surprised to see a _ takeaway is for you? i wasn't surprised to see a decline . takeaway is for you? i wasn't surprised to see a decline in | surprised to see a decline in sales and earnings. it reflects

the challenges that a lot of car makers are saying at the moment. certainly the importance of china stood out for me. sales down 13% bear interest at last quarter. china is mercedes's biggest market, so when there are issues there it has an impact on their wider business. also the decline in their electric vehicle sales, they fell by 15% just for that quarter. you can see the areas where they have been focusing on are the ones that are weak at the moment and that is having a big impact for them. let's stay with the electric vehicles, slowing demand, increasing competition coming from china. the chief financial officer speaking earlier said we will fight for market share in china. is he referring to general autos with the ev market? b, general autos with the ev market? �* general autos with the ev market?— general autos with the ev market? �* ., market? a little of both, i would say- _ market? a little of both, i would say. certainly - market? a little of both, i would say. certainly the i would say. certainly the overall market with china being

the world's biggest ev market and a lot of the sales in china moving towards electric vehicles, that is the biggest area of focus. the trade tensions at the moment between china and the eu are focused on electric vehicles as well. that is probably where they are really concentrating at the moment. really concentrating at the moment-— really concentrating at the moment. ~ , ., moment. when it comes to electric vehicles, _ moment. when it comes to electric vehicles, heavy - electric vehicles, heavy reliance on those finite raw materials, and talking about cobalt and lithium. has mercedes—benz indicated how they're going to around this? absolutely. just this week they opened what is i believe your�*s first battery recycling facility. to be honest, there are a number of positives out of this. we are looking at it at the moment through the prism of being able to secure availability of these raw

materials further down the line when you start getting these batteries back and you can recover some of those materials, but it will help reduce sourcing —— sourcing costs, which are a big pressure on car—makers at the moment. it is betterfor you are reducing the mind demands a new mining. it also addresses what you do with end—of—life batteries. it is looking at the bigger picture around electric vehicles and how to make the whole process more sustainable. when the chief financial officer was speaking earlier, he was asked about staff reduction and i'm sure a lot of mercedes employees would have been horrified to hear that he said we need to take a further step with cost cuts and it will be tighter and tougher for sure. the car industry really is taking a hit, specifically the european and german

industry. the european and german industry-— the european and german industry. yes, it's not 'ust them, industry. yes, it's not 'ust them. we i industry. yes, it's not 'ust them, we have i industry. yes, it's not 'ust them, we have seen h industry. yes, it's notjust i them, we have seen similarl them, we have seen similar i guess concerns coming around volkswagen as well at the moment. it really is coming down to the challenging environment that they are facing, the fact that so much investment has gone on to electric vehicles and as we have seen from the sales results they are not getting the returns on that investment at the moment. they are having to scale back in some areas. they have tried to put ofjob losses as long as possible, but at some point it is something that car—makers will have to be considering. from fantasies about immigrants eating pets to threats to deport millions of undocumented workers, immigration has been a big subject in this us election. voters frequently cited as one of the subjects

thatis cited as one of the subjects that is most important to them, but the campaign rhetoric rarely connects with the economic reality, which is that large—scale immigration is currently a vital part of the us economic growth. we have been to the heavily republican adams county in pennsylvania to see one example ofjust that. it is the peak harvest season, when migrant workers travelled to the us and spend their days toiling in the fields.— toiling in the fields. without mi . rant toiling in the fields. without migrant workers _ toiling in the fields. without migrant workers are - toiling in the fields. without migrant workers are a - toiling in the fields. without migrant workers are a lot i toiling in the fields. without migrant workers are a lot of| migrant workers are a lot of places will be out of business, quite frankly. places will be out of business, quite frankly-— quite frankly. brett is a local crower, quite frankly. brett is a local grower. in — quite frankly. brett is a local grower. in a _ quite frankly. brett is a local grower, in a tiny _ quite frankly. brett is a locall grower, in a tiny conservative leaning borough in adams county, pennsylvania. in recent years he has had to expand his workforce, predominantly with migrant workers from mexico. they work under the temporary agricultural workers visa. there are not enough local people to do the work that we

need. they also provide a very stable and reliable workforce and most of the men return year after year so they are able to hit the ground running, and a train of the new people themselves.— train of the new people themselves. here growing sustains — themselves. here growing sustains the _ themselves. here growing sustains the local - themselves. here growing l sustains the local economy. themselves. here growing - sustains the local economy. the area is located at the heart of area is located at the heart of a fertile valley ideal for cultivating everything from flowers to fruit and vegetables, but the vitality of the region's agriculture industry and its ability to meet its labour needs relies heavily on foreign labour. if the farmers could not harvest their fruit and vegetables, they would not be able to pay their own families, not be able to pay their local taxes, not be able to contribute back to society and if we were to have no harvest, then ourfood chain would be disrupted as our fruit and vegetables go all across the country. and vegetables go all across the country-— and vegetables go all across

the country. immigration has become a — the country. immigration has become a tou _ the country. immigration has become a top issue - the country. immigration has become a top issue for- the country. immigration has| become a top issue for voters in this election, with polls showing that a majority of americans want the numbers to be reduced, but like many developed countries, the us is confronting an ageing society and facing long—term population decline. if and facing long-term population decline. ., ., , decline. if immigration is lowered. _ decline. if immigration is lowered, reduced - decline. if immigration is lowered, reduced to - decline. if immigration is| lowered, reduced to zero, decline. if immigration is . lowered, reduced to zero, in the next 35 years the population of 18—44 years old, the future workforce, that will shrink by 20%, so you can see what kind of huge impact policy without immigration would have on the us economy, and society. this has prompted some states and municipalities even in predominantly republican areas to distance themselves from the wider anti—immigration sentiment. for some growers, like brats, immigration is criticalfor his like brats, immigration is critical for his business to

survive. critical for his business to survive-— critical for his business to survive. ., ,, ., ., ., survive. crops would rot on the vine and we — survive. crops would rot on the vine and we would _ survive. crops would rot on the vine and we would not - survive. crops would rot on the vine and we would not be - survive. crops would rot on the vine and we would not be able | vine and we would not be able to do all of this type of production without the migrant workers. time for one last story that is just coming to us here. thames water has been thrown a cash lifeline that will tout the troubled utility giant over until october of next year. the uk's until october of next year. the uk's biggest water group has secured a loan of up to 1528 00:12:34,224 --> 00:12:34,