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tv   Business Today  BBC News  November 5, 2024 2:30am-2:46am GMT

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as us voters head to the polls on tuesday, we look at how economies and businesses in asia are preparing. plus, a big week for china as top lawmakers gear europe to sign off on stimulus measures for the world's number two economy. hello and welcome to business today. i'm steve lai. the big countdown is nearly over, with americans heading to the ballot box on tuesday to cast their vote for the next president. many polls have shown it to be a tight race between the two candidates — former president donald trump for the republican party, and vice president kamala harris for the democratic party. the winner will need to lay out their strategies for ties with all of asia.
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for clues on what that could look like, constance hunter is chief economist at economist intelligence unit, who joins us from new york. atrump a trump victory, combined with enough congressional votes, would give him more power to change the way that the us deals with asia. namely, tariffs on china, but tariffs also across the world. the harris victory would be much more a continuation of what we have seen, with greater engagement with asia. and of course, some guardrails around that relationship with china. it certainly would change things. there are a number of american businesses that operate in china or are looking to invest in china. will the outcome of the election be playing on their minds as well? i would imagine, playing on their minds as well? iwould imagine, but playing on their minds as well? i would imagine, but i think a lot of that has to do with the way china treats foreign investors. i think that is certainly a much biggerfactor. and let's not forget these
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polls are extremely close. and there are a lot of data points which suggest they are not polling necessarily all of the voters that are going to matter. so female turnout is much more important in this election because health rights are on the ballot for women. and what you are seeing is a real surge in voting of women. more than past elections and in greater numbers than male voters. so i think there could be some in harris�*s favourite when we get to telling of the votes on election night and the days after. votes on election night and the days after-— days after. and you can watch live coverage _ days after. and you can watch live coverage of _ days after. and you can watch live coverage of the _ days after. and you can watch live coverage of the election | live coverage of the election results as they come in on bbc news and bbc one iplayer in the uk on tuesday. and we will bring you a special programme from washington, dc. meta has extended its ban on political adverts on facebook and instagram past november the 5th
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in the united states. the company did not specify when the restriction will be lifted, saying only the ban will continue until later this week. google parent alphabet announced a similar advert policy update last month saying it would pause ads relating to us elections from running in the us after polls close on tuesday. meanwhile, a judge in pennsylvania has allowed the tech billionaire elon musk to continue his daily million—dollar giveaway to registered voters in battleground states. the district attorney for the city of philadelphia had argued the scheme was an illegal lottery and an attempt to influence voters. thejudge however gave no reason for his decision not to ban it. musk�*s pro trump action committee says it has given away 16 $1 million prizes, four in the swing state of pennsylvania. apple's operating system for ipads is being scrutinised by anti—trust regulators and the european union. they are assessing whether the software complies with the bloc�*s digital markets
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act which acts as the eu's competition enforcer. apple has not commentated on the probe, but a breach could cost them as much as 10% of their annual revenue. china is hosting its annual international import expo where global business and political leaders are gathered in shanghai. our reporter said unilateralism and protectionism is on the rise. china must guard against this by opening up guard against this by opening up its economy further. he also said he is confident the country will hit its growth target for the year has its own fiscal and monetary tools at its disposal. this comes as chinese lawmakers are also gathered for a five—day meeting of the standards committee of the national people's congress where stimulus measures are set to be announced. this year, the meeting coincides with the us presidential election and some analysts believe the size of the measures to be announced might depend on the result of the election.
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alicia garcia—herrero. one could argue this is the case, given the choice of bass. there is another possibility and this is even more interesting, it is basically that, and so far, this is what is happening if you look at what is basically being funnelled away from that. what we know is being discussed at the moment is all about the debt swap. it is not a stimulus package. so the question is, will china perhaps hide behind the us elections to announce mostly a clean—up of its economy rather than a big stimulus? and therefore, choose those things in a way that is not really too negative for the market? that is a possibility as well. because so far, that's all we hear. that's what from local government financial vehicles which is hidden in china to either local governments or even the central government. so it is basically
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china's hidden debt, which is going to happen. but the stimulus, we don't know yet. how different those measures or how it treats debt will be due think depending on how the us in —— the us election goes? the in -- the us election goes? the duck part _ in -- the us election goes? the duck part has — in -- the us election goes? the duck part has to _ in —— the us election goes? tue: duck part has to be in —— the us election goes? tte: duck part has to be done for a number of reasons. first, is financial stability problems, there could be defaults on the local governments. so china has to do that independently of these elections. however, this is not good news for the market. why? because the market is expecting a growth enhancing stimulus, meaning consumption driven. clearly, this will not create any growth. it is very necessary, but it is not growth enhancing. so i would say this is something china had to do anyway and this is a good opportunity because the market is not watching. will trump win the elections, i do think they will announce more than just cleaning up, they will probably come up with some measures to show the market china can withstand high tariffs, import tariffs from trump. bangladesh has stepped — tariffs from trump. bangladesh
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has stepped up _ tariffs from trump. bangladesh has stepped up the _ tariffs from trump. bangladesh has stepped up the repaymentl tariffs from trump. bangladesh i has stepped up the repayment of more than $800 million it owes to the indian conglomerate donny power. according to a senior bangladesh official from the power development board, an initial payment $170 million was issued on monday after a macro to reduce the electricity supply to bangladesh, where half —— by half and threatened to cut it off completely if dakar didn't settle the debt —— adanl dakar didn't settle the debt —— adani. the deal with bangladesh was one of many under the former prime minister, he was toppled by a student revolution in august. to greenland next, long seen as remote and costly to reach, but in only a month from now, a new international airport will open in greenland's capital. that could bring huge change. it is the first of three airport projects that officials hope will be a shotin that officials hope will be a shot in the arm for greenland's economy, helping it to diversify from fishing into areas like tourism. our reporter adrian murray recently visited nuuk and filed this report. rock has been blasted and
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tarmac laid. soon this local runway will be ready. for the finishing touches to be put to a new terminal. right now, only small planes like this one can land in the country's biggest city. when this longer runway opens, much larger aircraft will be able to arrive here in nuuk and that will pave the way for new connections to greenland's capital. many locals welcome the change. tt is not only an output for me, it is also an airport for a modern greenland. lately, we have been _ modern greenland. lately, we have been shut _ modern greenland. lately, we have been shut off— modern greenland. lately, we have been shut off from - modern greenland. lately, we have been shut off from the i have been shut off from the whole — have been shut off from the whole world, and now we can open — whole world, and now we can open for— whole world, and now we can open for the world.— open for the world. only four hours flight _ open for the world. only four hours flight from _ open for the world. only four hours flight from either - open for the world. only four i hours flight from either europe or east coast usa, nuuk will become greenland's travel hub. it is going to shorten the travel_ it is going to shorten the travel time _ it is going to shorten the travel time and - it is going to shorten the travel time and decrease it is going to shorten the - travel time and decrease the cost — travel time and decrease the cost of— travel time and decrease the cost of producing _ travel time and decrease the cost of producing the - travel time and decrease thej cost of producing the flights. so hopefully, _ cost of producing the flights. so hopefully, that _ cost of producing the flights. so hopefully, that will- cost of producing the flights. so hopefully, that will have i cost of producing the flights. | so hopefully, that will have a positive — so hopefully, that will have a positive impact _ so hopefully, that will have a positive impact on _ so hopefully, that will have a positive impact on the - so hopefully, that will have a positive impact on the ticketl positive impact on the ticket prices — positive impact on the ticket prices that _ positive impact on the ticket prices. that will— positive impact on the ticket prices. that will have - positive impact on the ticket prices. that will have a - prices. that will have a positive _ prices. that will have a positive impact - prices. that will have a positive impact on - prices. that will have a - positive impact on demand as welt — positive impact on demand as well. ., , ., , ., positive impact on demand as well. ., , ., well. competitors are already standin: well. competitors are already standing by- _
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well. competitors are already standing by. united _ well. competitors are already standing by. united will- well. competitors are already standing by. united will fly i standing by. united will fly from new york and sas from copenhagen. otherairlines from new york and sas from copenhagen. other airlines are expected to follow. greenland is a fast ice cover territory, with a population ofjust 57,000 people. and this remote runway has been the main entry point. built by the americans during world war ii, it has been the only place where jets could land and so travellers have to take another plane to reach their destination. that will all change. after macro, two more airports will open in 2026 as part of a plan to boost the economy. tt 2026 as part of a plan to boost the economy-— 2026 as part of a plan to boost the economy. it will be the key to opening. — the economy. it will be the key to opening, greenland - the economy. it will be the key to opening, greenland and - to opening, greenland and making _ to opening, greenland and making it accessible from europe _ making it accessible from europe or north america. once you make — europe or north america. once you make a _ europe or north america. once you make a country that has been — you make a country that has been quite difficult to get to and you _ been quite difficult to get to and you create an easy access like this. — and you create an easy access like this, i'm sure we will see a lot— like this, i'm sure we will see a lot of— like this, i'm sure we will see a lot of tourism and we will see — a lot of tourism and we will see a — a lot of tourism and we will see a lot _ a lot of tourism and we will see a lot of change. tourism is already booming. _ see a lot of change. tourism is already booming. but - see a lot of change. tourism is already booming. but hotel- already booming. but hotel accommodation remains limited.
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the owners of this hostel have recently invested and added more rooms. we recently invested and added more rooms.— recently invested and added more rooms. ~ ., , _ more rooms. we are preparing by makin: more rooms. we are preparing by making new _ more rooms. we are preparing by making new tours. _ more rooms. we are preparing by making new tours. many - more rooms. we are preparing by making new tours. many local- making new tours. many local people got their own boat as well. of course, we need more accommodation here. we also need more local guides. and local workers.— need more local guides. and local workers. localworkers. now, though, it is the public — localworkers. now, though, it is the public sector _ localworkers. now, though, it is the public sector and - is the public sector and fishing that drives greenland's economy. for policy foods which exports frozen prawns and halibut, shuttle direct flights mean new business opportunities. t mean new business opportunities. i think the bi est opportunities. i think the biggest change _ opportunities. i think the biggest change that - opportunities. i think the biggest change that we i opportunities. i think the l biggest change that we will opportunities. i think the - biggest change that we will be looking — biggest change that we will be looking to more fresh seafood. it looking to more fresh seafood. it will — looking to more fresh seafood. it will cut — looking to more fresh seafood. it will cut down the transportation buy may be a full day, _ transportation buy may be a full day, which is a lot when you're — full day, which is a lot when you're talking about fresh seafood. you're talking about fresh seafood-— you're talking about fresh seafood. . ., , seafood. the impact of this new infrastructure _ seafood. the impact of this new infrastructure could _ seafood. the impact of this new infrastructure could be - infrastructure could be far—reaching. greenland closer than ever to europe and north america. adrian murray, bbc news, nuuk. something to add to
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your travel bucket list. thank your travel bucket list. thank you forjoining me, we will see you forjoining me, we will see you again soon.
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hey, it's lucy, with the catch up. tonight... four attacks on women in a week in londonderry. who's going to be the new president? and a new local celebrity. first tonight, they've been frozen for eight years, but next year, university fees are going up. the government says universities are really struggling with money. if you study in england, fees will rise next year from £9,250 a year to just over £9,500 a year. if you live and study in wales, northern ireland or scotland, fees won't change
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for now, because the fees are devolved. that means each nation's government decides what students should pay. kamala harris and donald trump have been campaigning, in a final push for the white house. these are the seven swing states. they could each be won by either democrats or republicans. michigan's one of them. jordan's there. the big issues young people here tell us they're thinking about when deciding who to vote for is the war in the middle east, saying they want to know how the next president is going to end that. other big issues for young people across the states include the cost of living, abortion rights and gun laws. we'll have live coverage from tomorrow night on the bbc news app and iplayer. police are stepping up patrols in londonderry, after four attacks on women there within one week. there have been big concerns recently about violence against women and girls in northern ireland. so police in derry say...
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we have high—visibility patrols in and around key focused areas, and that will continue over the coming days. but let's leave you with ten seconds of good company. beau, the 13—year—old cat, has become famous for keeping bus passengers company in leicestershire, but he's now been put on a diet because he's getting too much attention. that's us for tonight. have a good one!
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hello and welcome to sportsday. i'm tanya arnold. real madrid's carlo ancelotti says no football matches should have been played at the weekend, in the wake of the devastating flooding in the valencia region. manchester is watching — united's new manager takes charge of his penultimate sporting game against city. and former racing driver billy monger tells us how the stars aligned for him to break the ironman record for a double amputee
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at the world championships.

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