veterans and their families. donald trump is projected to have won arizona in the us presidential election, giving him a clean sweep of all seven battleground states. this leaves him with a final electoral college total of 312 votes. president biden will president biden will meet donald trump meet donald trump at the white house on wednesday at the white house on wednesday — as the transition — as the transition of power begins. of power begins. the meeting which is considered the meeting which is considered customary for incoming customary for incoming and outgoing presdients and outgoing presdients will take place will take place at the oval office. at the oval office. and, in spain, and, in spain, tens of thousands protest tens of thousands protest on the streets of valencia on the streets of valencia at the authorities�* handling at the authorities�* handling of the catastrophic floods. of the catastrophic floods. the region's president what's on the show. the region's president carlos mazon is facing carlos mazon is facing mounting pressure to resign. mounting pressure to resign. now on bbc news, talking business. hello and a very warm welcome hello and a very warm welcome

to talking business weekly. to talking business weekly. let's have a look at let's have a look at what's on the show. can workers grab a bigger slice of the economic pie? as the post—pandemic recovery continues, workers are getting the smallest share on record. from america to germany and indonesia, the world's workers are demanding higher wages. but what kind of future do they have as companies increasingly turn to technology? what will that mean for living standards? i'm going to be discussing all of this with these two. one of the top leaders of the un's international labour organization tells us why well—paying, decentjobs are essential to the health of the global economy and what governments can do to make sure they exist. plus, the international organisation of employers. it represents more than 150 business groups around the world. its boss explains why there's a balance to be struck between workers�* pay and growing economies. and we�*ll hear from the head of the world�*s biggest trade union group about how workers around the world are taking to the picket line as they fight for their share

of the economic pie. wherever you arejoining me from around the world, welcome to the show. this week, we�*re asking if the world�*s workers are getting their fair share of the global economic recovery. from america to france, germany and indonesia, workers around the world are holding strikes as they demand higher pay. the share of what the global economy produces that goes to workers fell sharply after the covid pandemic, and the data suggests it�*s leading to deepening inequalities between workers and those who own businesses

that fall means that, collectively, the world�*s workforce is $2.1; trillion worse off than it would have been this year alone. and those workers are putting more effort in for less money, with the value of what they produce going up by 58%, but workers�* income only going up by 53%. and this year, profits at many of the world�*s biggest companies have been growing strongly. it�*s helped the s&p 500 index of america�*s leading companies to reach record highs. but it seems that workers are pushing back. in the us, the world�*s biggest economy, 16.7 million days were lost to what the government calls major work stoppages last year. that�*s the highest since the turn of the century. and it continued this year with strikes at us ports and hotel chains, including marriott and hyatt. workers at the plane—maker boeing show the impact that strikes can have. their actions are estimated to have cost the company nearly $3 billion, but importantly for them, secured a pay rise of 38% to undo some of the impact years of high inflation has had on their living standards. this one is definitely a fair deal. really, it was the pay, the one day extra per year, just personal time.

i think that�*s a good deal right there. so... and also the overtime. so getting the overtime taken care of where, you know, we don�*t have to... if we work a weekend, we don�*t have to work the weekend after. argentina�*s also seen transport grind to a halt recently as striking workers demand higher wages. they�*re also pushing back againstjob cuts in the public sector in particular, where the government says major reform is needed to deal with problems including inflation of more than 200%. germany is one european country where workers are making similar demands. new technology is threatening jobs at a time when workers want more money to cope

with a higher cost of living. translation: we're asking l for a 7% increase for the metal and electrical industries. we�*re asking for 170 euros proportional increase in apprentices�* pay, because something has to be done in a city like berlin, where the cost of living is ever higher. when france�*s new prime minister recently made his first policy speech, there were similar concerns voiced at protests across the country. translation: we want the prime minister and the employers - to announce wage and pension increases, that the prime minister and the employers should abandon the unemployment insurance reform, repeal the pension reform, and that the prime minister should announce a budget that gives our public services the means to function. in asia, too, there�*s unrest among workers. indonesia�*s newly sworn—in president is facing the prospect of mass strikes later this month that could see five million workers on the streets. trade unions say the world�*s fourth most populous

country want an 8% — 10% increase in the minimum wage next year, which would make labour more expensive for the foreign companies the government wants to attract. so what impact does it have on the state of the global economy if a smaller share of the economic pie is going to those whose most valuable asset is themselves, the workers? i�*ve been speaking to a woman who used to be one of president biden�*s top labour relations advisers and is now deputy director—general of the united nations international labour organization. celeste drake, thank you for joining us on talking business. now, your data shows that the share of income that goes to workers globally has been falling over the 20 years that you�*ve been gathering this particular data, and at a sharper rate in the last few years. why do you think that is? well, there are several reasons for this. one thing that we should say at the outset is some of this has to do with covid, because during the covid period, many workers lostjobs and many of the others were on reduced hours.

so that was a decrease for worker income, even as the share of global income that was going to capital was increasing and that was going then therefore mostly into the hands of the wealthy. but it�*s notjust covid. technology has a lot to do with this. and as we bring in new kinds of technology, whether it�*s robotics, whether it�*s artificial intelligence, that has a positive shock, a really positive effect on labour productivity. but, unfortunately, what we�*ve seen is that workers have not shared fairly in the gains from that productivity. so it�*s those two things. and we would also add from a particularly ilo perspective, that there�*s been a weakening of labour market institutions. and so that means the ability for trade unions for workers to engage in collective bargaining with their employers and have government oversight

to ensure that workers and employers can engage in this together. so what�*s your view as to why the trade union movement has been weakening in its influence? well, it�*s... a lot of it really has to do with how much governments are committed to strong labour market institutions, and when collective bargaining happens, that means workers get a say in negotiating with their employers to secure a fair share of the gains that they�*re creating. does this growing disparity between workers and those who own capital, such as land, factories or patents, concern you? it does concern us because it means that we�*re falling behind on what the united nations calls the sdgs, the sustainable development goals. and there are two in particular that are related to this. and one is reducing inequalities, but also sdg io, which isjob creation and decent work. so it�*s notjust any jobs that are created,

but it is jobs where workers are safe, where they can exercise freedom of association and engage in collective bargaining. if we do not have greater equality, what you see is a breakdown of social cohesion. that is dangerous because socialjustice, as it says in our constitution, really is the basis for lasting peace. but on an economic scale, it really is important because when you see either stagnating or reducing labour income share for workers globally, that will translate into stagnating or reducing powerforfamilies and workers to be consumers. and that actually is a huge role in our global economy. well, artificial intelligence is still in its infancy, but there are all these worries about it replacing people in particular professions.

how concerned are you that it could further erode workers�* pay? so we�*ve actually looked at artificial intelligence and its impact on the workplace. and at least in the near future, there will be somejob displacement. but what there will be more of isjob augmentation, where workers will use ai in theirjobs so it will help them do theirjobs rather than replacing workers. in either case, it�*s really important that, again, governments, workers and employers commit to social dialogue and collective bargaining about how artificial intelligence is rolled out in the workplace, but also to make sure that as workers gain the skills that they need to work with al and they themselves

become more productive. it�*s not that workers should be afraid of new technologies, but it�*s that governments should help set up a system where workers can gain from them and gain a fair share that helps make their lives better. well, if we look at the example of us hotels, there have been thousands of employees on strike for higher wages, fairer workloads and the reversal of pandemic—era job cuts at a time when their

union says room costs are at record highs and the big chains are making huge profits. does that illustrate what�*s going on in other industries, too? it does, because some of those same kinds of points are being made, whether it�*s workers on strike in the united states or elsewhere, whether it�*s workers in service or whether it�*s workers in industry, and workers themselves are picking up on this. it�*s notjust their own job and their own employer. it�*s also they see the big picture and that the gains and the returns to capital are growing much more quickly than the gains and the returns to labour. and so they�*re really saying, "well, for what we can do, "what we have power over is our union and our strike, "and we�*re going to make these demands." but these demands have to be

solved really in a tripartite way, with governments and employers and workers saying it�*s actually to all of our benefits to have labour peace, to having a growing economy that includes workers and to reducing inequalities globally. celeste drake, deputy director—general of the international labour organization, thank you forjoining us. thank you very much. we believe that trade and

investment and decent wages for workers go hand—in—hand and we should not lead them as contradictory or with intention. we have an evaluation of better work, trying to create decent work in factories and it began as a trade —related measure in cambodia. decent work helps workers be productive and as that productivity increases, there is a strong element increased in trade. there is a positive relationship between creating decent work, which includes the opportunity to be paid fairly for the work performed, and good performance on international trade, because workers can be more productive when they are safe, paid fairly, have decent benefits, when they have a voice in the

workplace, so we believe these things go together. celeste drake, deputy director—general of the international labour organization, thank you forjoining us. thank you very much. creating jobs in the first place often comes down to private companies. they need people with the right skills and abilities to allow them to grow their businesses. and that�*s what helps economies thrive, as does the fact that those in employment have money in their pockets to spend. so how do you get the right balance between rewarding workers and those who take the risks with their own money to create the jobs in the first place? well, i�*ve been speaking to the head of the international organisation of employers, roberto suarez santos, secretary—general of the international organisation for employers, thank you for talking business with us today. no doubt you�*ll have seen that data from the international labour organization saying that workers�* share of global income is flat—lining at 52.3%.

now, you�*re someone who represents business groups in more than 150 countries. how do you feel about that fall in the workers�* share? well, it is not the first time we have this data, and it�*s not the first time we have this trend. and it�*s due to several factors. it has to do with the technological disruption. it has to do also with productivity decline, but also it has to do with the elements that are linked to a reality in many developing countries where the informal sector, the sector non—formalised, is not declining. but in principle, if workers�* share of the riches of the world is falling, is that a good thing, is it a bad thing or are you neutral about it? we will never be neutral as employers and business community. i think that it�*s in the interest of employers also that the incomes of workers increase. 0k? the challenge, this is how we get there. this is not an easy path.

but for that you need also what we call social dialogue institutions that are strong and solid. and you also need responsible attitude, responsible commitment from both sides. it�*s not always there and there is a catch to get there. but it�*s feasible. it has to be said, though, this year profits at many of the world�*s biggest companies have been rising. it�*s helped push the s&p 500 of leading american shares to record highs. could part of the problem be that there�*s too much pressure from shareholders or from management to take profit out of companies, and not enough priority given to taking care of workers? well, i think the reality is more complex than that, i�*m afraid. i think that what happens is the productivity increase has decreased. there is a decrease in the productivity gains in general beyond what profits can give in some developed economies. and that also has to do, again, with the fact that you have a very persistent informal sector. the reality of small

and medium companies, which we always represent and which we will continue to represent, is that the profit and the room of manoeuvre also to share their profits with the workers is much more limited. of course, in the post—pandemic era and in this era of high inflation that we�*re just emerging from, we�*ve seen a lot where does the balance has to lie between rewarding business owners who take the risks and the staff who deliver the results on the front line? fix, results on the front line? business that makes an investment is already linked to several factors. investment is already linked to severalfactors. you need the skills, and right now there are

gaps, priority number one in many companies, you also need some kind of incentives. there�*s a big transformation of the model notjust with digitalisation but linked to ai and policies, and these incentives are not there. also increase the retention of workers. there is a balance there. but you will not get there, you will not involve workers without this. of course, in the post—pandemic era and in this era of high inflation that we�*re just emerging from, we�*ve seen a lot yof strikes around the world, some of them very high—profile. just this week we saw the boeing strike finally settled. it�*s estimated to have cost the company about $2.7 billion through the work stoppages. but the settlement is estimated at about $2 billion worth of cost. so does that suggest it does not necessarily make good business sense for companies to dig in and not give in to workers�* demands?

strikes are never a good business for business, and i would say also for employees, it should be the last resort. 0k? when a strike come, it has to do also with bad industrial relations policy. when there are several actors to be blamed, how to prevent that? you need solid institutions. you need social dialogue that works. if you have trade unions on the other side, or employers�* organisations or businesses that are not able because they don�*t have the capacity to negotiate, you will never get there. you will get there late and then the consequence will be very damaging. so we need to work much better to have both employers�* and workers�* organisations much more efficient and much more active. roberto suarez santos, secretary—general of the international organisation of employers, thank you for talking business with us today. thank you. coming up after the break, we�*ll hear from the trade union now, one way that workers can stand up for their rights and push for a bigger share of the money their efforts generate is by going on strike.

and this year there have been a number of high—profile strikes at companies ranging from boeing to samsung and mercedes. well, to find out why, i�*ve been speaking to the head of the international trade union confederation, which claims to represent more than 200 million workers in 163 countries around the world. luc triangle, thank you for joining us on the programme. now, last year, the us government says that country had the highest number of what it describes as major work stoppages for 23 years. and, of course, in lots of corners of the world, it really feels like we�*ve seen a lot of strikes over the past year. why is that, do you think? well, there is a growing dissatisfaction among workers in the world. they are faced with high levels of inflation, certainly the last years, and the wage increases have been very moderate or reduced to a minimum. that means that the real wages and the real wage level, um, is going down and the purchasing power is eroding. and that makes people angry because at the same time, they see that those that

have a lot of money and that own the companies are not having the same reality as they have. oxfam produced a report recently saying that since 2020, the five richest people in the world doubled their wealth, while at the same time 50% of the population in the world got poorer. so this growing inequality, people see that, and they want just to have their fair share of the wealth that we all together produce and create. well, during the recent strikes in argentina, you were talking about working conditions and the right to organise and bargain collectively. samsung workers in india recently held a strike notjust for pay, but also for air conditioned buses and greater choice in the staff cafe. what do you think those examples tell us about how workers are treated and what more they want, apart from just higher pay?

sure, it�*s not only about pay. the case you mentioned about argentina is also about the right of people, not only trade unions, to protest. one of the first measures that the new government took when they got into power was indeed to limit the right to demonstrate, the right to protest. that goes into the heart of a democracy. the samsung workers were indeed also asking for quality. the demands of the workers go far beyond wage increases. they want to have respect. they want to have safe jobs. they want to work in a healthy environment. a good wage is part of these demands. and a good wage is a wage which also, um, gives them a fair share of the wealth created in the economy. the reality, though, luc, is that in many advanced economies we�*re seeing populations ageing and shrinking. i wonder if you agree, if those societies are simply going to have to accept that with their economies

struggling to grow as much as they have in recent decades, that will have a knock—on for living standards. do you think there�*s still going to be enough money to fund everything people want, from wages to government—provided health care and education? well, the funding of public services is a question about taxation levels and who pays taxes. and we don�*t ask workers to pay more taxes, because often in societies, who are the ones that are paying already the highest level of taxation. but let�*s look to what multinational companies pay. let�*s look to what individual shareholders pay. so there we have still a lot of space to increase taxation and to let them also pay their fair part of taxes that need to be paid by everyone in the society. and if we all do this in a fair way, we will have enough money to pay all the challenges that we have with an ageing workforce and all the public

services where we all benefit from. well, as we mentioned at the start of the show, figures from the international labour organization show just how much the workers�* share of the economic pie has been falling, with more going to business owners and those that are taking the risks of investment. where do you think the balance should lie between those two camps — the owners versus the workers? companies and owners cannot produce and cannot create the profits without human capital, they need the workers. so what we ask is ourfairshare. and indeed, the share of labour has decreased in the overall gdp over the last years. and that�*s a sign that there is a lot of wealth created. and we are all faced with growing economies. but the fruits, the results of this growth has not been shared equally among those that have produced it. and that needs to be done if you want to have a more social, balanced social reality in companies and in society, we will have to work on that, and if we don�*t do that,

social unrest will continue all over the world. we don�*t see dividends going down. that shareholders are getting less than the year before. that�*s no longer acceptable. and that�*s where people protest against, um, in many parts of the world. but, luc, what is the magic number? what is a fair share, in your opinion? well, i can�*t give you a concrete exact number. that�*s also, um, depending on regions and countries and so on and on economies and on sectors. but, um, what we cannot accept is that the labour share is going down in the gdp. luc triangle, general secretary of the international trade union confederation, thank you forjoining us. thank you. that is it for this week. you can keep up with all the latest on the global

economy on the bbc news website and the smartphone app. and don�*t forget, you can get in touch with me and some of the team on social media. until next time, bye—bye. hello there. we�*re finally expecting to see a bit of a change to the weather. something a bit brighter with some sunshine. finally seeing the back of this gloom and grey weather. so remembrance sunday marks a change, i think, for scotland and northern ireland. but for most again it�*s going to be pretty cloudy with outbreaks of rain. and that�*s because we�*ve got these weather fronts moving in from the west. it�*s this area of low pressure and the high pressure behind it that will be the game changer. so we start the day grey for many, rather gloomy. these weather fronts pushing in from the west will bring some spots of showery rain. could see a little bit of sunshine here and there, but the best of the sunshine

will appear across scotland and northern ireland as we head into the afternoon. winds turn westerly here and again, temperatures on the cool side ten to 12 or 13 degrees. through sunday night, that weather front sinks southwards. barely anything on it, but it introduces a clearer and a chillier air mass, but with clearer skies, so it�*s going to turn quite chilly across northern parts of the uk to start monday. a little less cold across the south because we�*ve still got a bit of cloud here. so here it is, this clearer air mass moving in behind the cold front around this area of high pressure. so again it is high pressure. but because of this slight change in air mass, we should see the sunshine. monday could look vastly different. a bright sunny start for many and the sunshine continuing into the afternoon. something we haven�*t seen for such a long time. a little bit of cloud across northern and western scotland and northern ireland, but most places bright into the afternoon and a cool day to come. ten to around 13 or 14 degrees. our area of high pressure then still with us into tuesday, just drifting a little bit further westward so it could allow some cloud with some patchy rain through the day on tuesday

to roll in across east and southeast england. so that could spoil the sunshine a bit through the day. but elsewhere, another dry one. some good sunny spells around those temperatures again, ten to around 12 or 13 degrees. pretty much where we should be for the time of year, and very similar story. as we head through the week, high pressure largely dominates. could see these weak weather fronts spiralling around that could give spells of patchy rain and a little bit of cloud at times, but we should hold on to the sunshine as we go through the week. most places should stay dry, just a hint of it starting to turn colder from the north by the time we reach next weekend. take care. good morning.

welcome breakfast with rachel burden and ben. our headlines today coal on the king and the royalfamily lead events to mark remembrance sunday. the focus of national commemorations will be here at the cenotaph in london. the king will bejoined by the prince and princess of wales, as well as thousands of veterans, members of the armed forces and thousands of public watching on. the final result in the us presidential election goes donald trump�*s way. he is projected to win arizona, giving him a clean sweep of all seven swings dates. tens of thousands protest on the streets of valencia over the handling of the catastrophic floods in spain. good morning. four consecutive losses for pep guardiola. defeat at brighton means his manchester city side are now five points behind liverpool in the league.