tv Business Today BBC News November 11, 2024 3:30am-3:46am GMT
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plus, the world's top climate summit begins today in azerbaijan...we look at climate financing and how a trump presidency could impact global climate goals. hello and welcome to business today. i'm steve lai. it's being called the biggest political comeback in history. donald trump will return to the white house as the 47th president of the united states in january. but, what will that mean for businesses and economies in asia? on the campaign trail, he regularly talked about trade and traiffs, saying goods from china will be subjected to levies of up to 60%. the rest of the world wouldn't not be spared either, but at a lower rate of around 20%. if there are concerns the next stage of a trade war could pose additional challenges to the global economy. angela mancini from control risks explained whether all the tariff talk is just rhetoric or more of a bargaining tool. this is someone who's been wanting to have tariffs for
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decades, a cosmos of the tariff man, and indeed in his first administration he put tariffs in place, really kicked things off with china in terms of trade but having said that he didn't do everything, letting in this case the 60% tariffs in china and the universal tariffs on everyone else probably is more of a bargaining position, because were he to do that i think the impact will be quite significant, notjust for other significant, not just for other economies trading significant, notjust for other economies trading with the united states but also will be so inflationary in the united states as well.— states as well. what would ha - en states as well. what would happen here _ states as well. what would happen here in _ states as well. what would happen here in asia - states as well. what would happen here in asia if- states as well. what would happen here in asia if he . states as well. what would l happen here in asia if he was to carry through, even if the percentage is lower, what is the impact?— percentage is lower, what is the imact? . ., , the impact? there are a couple of wa s the impact? there are a couple of ways to _ the impact? there are a couple of ways to look _ the impact? there are a couple of ways to look at _ the impact? there are a couple of ways to look at it, _ the impact? there are a couple of ways to look at it, the - of ways to look at it, the first is what would china do. china through these pouches with the drum first and then the biden administration did not retaliate in kind. it will actually have some responses but they were measured, never equal to or exceeding what the us put onto china. i think the difference now is let see what happens from a retaliation point of view. they have the infrastructure in place now and
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things like the anti—foreign sanctions act, they have their own export laws, the unreliable entity law which they are starting to implement. number one, what retaliation they might start to do, not excessive, but try to do it, and the number to look at some of the things around the nation, i think malaysia and vietnam are exposed because of their large deficits with the united states, and then think about is the us is cracked down on the transshipment they come from chinese goods through your vietnam and then through to the united states violating trade rules there. in united states violating trade rules there.— united states violating trade rules there. ., rules there. in the longer term view, if rules there. in the longer term view. if he _ rules there. in the longer term view, if he carries _ rules there. in the longer term view, if he carries through, - view, if he carries through, other countries, will they not just turn away from the us and look towards each other? it is not so simple _ look towards each other? it 3 not so simple because the us is such a strong market and such a strong investor here but i think you are exactly right. companies and markets are already starting to think out of a rework supply chains and also don't forget there is quite a lot of asian investments, japanese
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auto—makers and semiconductor, south korean and korean businesses, as well as mexico. so honda has come out and said 80% of its production in mexico goes to the us. what happens if mexico gets tariffs? so it is a bit of a complicated picture. i think in the longer term there is a whole reworking of supply chains in asia we need to be watching. chains in asia we need to be watching-— chains in asia we need to be watchinu. ~ ., ., watching. what are you looking out for that _ watching. what are you looking out for that will _ watching. what are you looking out for that will tell _ watching. what are you looking out for that will tell us - watching. what are you looking out for that will tell us which i out for that will tell us which way trump is going to go? i am watchin: way trump is going to go? i am watching for — way trump is going to go? i am watching for his _ way trump is going to go? i am watching for his overall- way trump is going to go? i —n watching for his overall tone. i don't think this is a tramp coming to office as angry as he campaigned. ithink coming to office as angry as he campaigned. i think he is jubilant combat may change some of his tone and actions, and number two as people. we think we know who he will put in that we know who he will put in that we need to see who those advisers actually are. bitcoin has rallied past $80,000 for the first time ever, as investors bet on continued momentum especially after the us elections. 0n the campaign trail, trump vowed to make the united states "the crypto capital of the planet". he also pledged to launch a national crypto stockpile, with over $16 billion in bitcoin the us government has amassed through asset seizures.
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world leaders meet this week for the latest un climate talks, cop29, in baku, azerbaijan. but donald trump's victory in the us presidential election has clouded the outlook, with threats to withdraw the nation from the landmark 2015 paris climate agreement, for a second time. 0ur north america business correspondent, ritika gupta filed this report. dubbed the climate finance cop, the central goal at the meeting will be how much money should go each year to help developing countries cope with climate related costs but talks could be difficult after donald trump is re—election victory. donald trump, a climate sceptic, has vowed to remove the us from the landmark 2015 paris agreement to fight climate change for a second time. the big concern is anything us negotiators agreed to will be meaningless once
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the new administration gets in and thereby removing the incentives for the lack of china and india to make big commitments. at the same time that donald trump administration is likely to push for a ramp up of oil and excavation and rollback environmental protection and impose tariffs on ev and solar panels coming from china. but with renewable energy gaining support in the us, trump's efforts to boost oil and gas instead may be less effective. he could even face strong opposition within his own party given president biden�*s inflation reduction act, which may ultimately channel $1 trillion of spending into green energy, has been hugely beneficial to republican districts. trump has pledged to rescind any unspent funds under the ira. here in asia, china and indonesia have signed ten billion dollars worth of deals at the indonesia—china business forum in beijing on sunday. the agreements cover sectors like new energy, technology and biotech. indonesian president prabowo subianto also sat down with chinese president xi jinping on saturday, where they agreed to enhance collaboration in green sectors such as electric vehicles and lithium batteries. china is the first country prabowo visited since taking
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office in october. turning to india where for more on this. tell us about this merger what it means for india �*s aviation market? the india 's aviation market? the ceo of air— india 's aviation market? the ceo of air india _ india 's aviation market? the ceo of air india has - india 's aviation market? tie: ceo of air india has called it the most complex merger ever in aviation history and it comes at the back of the merger there are simultaneously happening actually between the two low—cost carriers of air india which includes air india express. it will allow it to compete. it is a measure that has faced a lot of scrutiny particularly from the customers of vistara who are concerned
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perhaps the merged entity would not be able to match up to a higher premium service standards that they have come to expect from vistara. i have been speaking to some of the brand experts who say it will essentially create a hodgepodge of formats and there could be integration issues when it comes to things such as culture or human resources as well. they have only been a lot of processes —— protests we have seen from pilots and crew members of vistara. but it did not make sense to continue these two airlines to be operating separately and competing with one another at a time when they are both loss—making. we will have to wait and see. see how successful they are going forward in terms of running the joint entity. forward in terms of running the joint entity-—
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some is harmful, and illegal. our technology expert explores the content co nte nt of content of the turning to tech now — here are some big figures. more than four million photos are uploaded to instagram every hour. about 500 hours of video posted to youtube every minute. around 30 million videos are uploaded to tiktok every day. as we know, some of it is harmful, disturbing, or illegal. our technology editor zoe kleinman explores the hidden world of the content moderators, whosejob it is to keep us safe online. if you see something bad on social media and you decide to report it, have you ever wondered where it goes? it late into the inboxes of people called content moderators whose job it is to review and delete the worst contact on the internet. in every state could include child abuse, hate speech and murder but they are hidden away. many do not work directly for the tech giants. there are content moderators in the wake but these jobs are often outsourced to other companies placed east africa, india and the philippines. we are the ones who make sure they are safe, right, and in doing that, we are the ones who usually get on the receiving end in protecting them. he lives in nairobi.
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from april 2022 he worked as a moderator outsourced by tiktok. any disturbing content you can imagine, you know, from sexual materials or content to very disturbing content whereby people are being beheaded or killed or skinned alive. to kids being molested. thejob hugely affected his mental health and he feels he was not given proper psychological support or paid enough. content moderation is an industry in crisis. there are multiple ongoing claims it is destroying the mental health of moderators. we spoke to several former outsourced moderators. they have all told a similar story.
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despite their work and the rise of ai tools designed to catch harmful content before it is published, the torrent of horrific material that finds its way online continues. before we go, a look at how markets in asia are faring. most indices are trading lower after china's inflation numbers came in below expectation, raising concerns in the recovery in the world's second largest economy. investors will be watching how the us markets open tonight after a record close on friday. that is something we will be keeping a close eye on as well and reporting on it on business today. thank you for your company. i will see you again soon.
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hello and welcome to sportsday. i'm lizzie greenwood—hughes. here's what's coming up on the show. as chelsea and arsenal draw — to the delight of their title rivals — we'll bring you the latest from the premier league. the end of an era, as the manx missile retires from professional cycling. and a fairy tale win for the world number 229, at golf�*s lucrative abu dhabi championship. hello. lots of sport for you, and it's been quite a day in the premier league — let's start with chelsea v arsenal. the late kick—off between the london clubs ended in a 1—1 draw — the perfect result for their title rivals. but the game was far from dreary, with plenty of action.
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