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tv   Business Today  BBC News  December 3, 2024 3:30am-3:46am GMT

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company. bought by a foreign company. nippon steel have been looking to close the $15 billion deal before the new president takes office in january. before the new president takes office injanuary. the attempted takeover has faced opposition from powerful us trade unions and the outgoing presidentjoe biden. more on this developing story when we get it. a usjudge has ruled that tesla ceo elon musk is still not entitled to a record—breaking pay package. it comes after months of legal wrangling, with shareholders approving the $56 billion compensation, and saying the ruling might lead musk to leave the electric vehicle company. the bbc�*s lilyjamali told me about the background this was a pay package worth 56 billion dollars which would have been the largest pay package for a ceo of a publicly traded company. it was awarded a couple of years ago and it was contingent on elon musk
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meeting targets having to do with revenue and targets. the billions of dollars were in stock options today they are worth quite a bit more than 56 billion, closerto worth quite a bit more than 56 billion, closer to $100 billion and this ruling today from katherine mccormack reiterates her rolling back at the start of the year in january where she found this pay package is excessive and not only that, the board of directors of tesla directors is not sufficiently independent to approve it, the people on the board her personal and business relationships with elon musk. his brother happens to be on the board, james murdoch the son of rupert murdoch is on the board, injune as you mentioned, elon musk and tesla put this to the shareholders who approved this pay package, but chancellor mccormack saying thatis but chancellor mccormack saying that is not enough reiterating that is not enough reiterating that early decision and one of the arguments we saw here from the arguments we saw here from the shareholders as they were not told how easy or difficult
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it would be for elon musk to make those original targets when they voted. she sided with them once again today. l115 them once again today. us markets — them once again today. us markets are continuing to reach new heights as we get to the end of 202a. these indexes have been lifted by tech stocks especially in video which was included in the dow in november, the financial sector has been in focus with the federal reserve cutting rates this year. we talk to an expert on financial markets and he gave his opinion on how markets will close out there. risk appetite _ will close out there. risk appetite is _ will close out there. risk appetite is pretty - will close out there. risk appetite is pretty firm i will close out there. risk| appetite is pretty firm the trump trade rejuvenating risk assets as we heard of 5a straight s and p record high, generally us assets doing very well. what is happening here it does seem to be a flood of
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money pulled out of assets globally into the us, and given we have so many global risk factors with geopolitics, worries about tariffs etc, the fact we have still got risk assets doing pretty well is quite incredible here. it does look like that trend will continue to year end on the dollar also looks like it will continue to have a very firm turn into the next few months, and that potentially is likely to carry on into next year. a lot of this is markets bullish about tax cuts and fiscal spending in the us, probably ignoring the negative impact of tariffs on potential inflationary threat they may cause. �* ,., inflationary threat they may cause. ~ ,., ., cause. about the federal reserve. _ cause. about the federal reserve, senior- cause. about the federal reserve, senior official l reserve, senior official christopher wallace is progress on curbing inflation may be stalling, do you expect a number rate cut this month? house paul is a rate cut this month and a further two next yearfor month and a further two next year for the month and a further two next yearfor the federal month and a further two next year for the federal reserve, it is a close call they may look closely at this week's
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jobs data, we are forecasting a $275,000 increase in non—farm payrolls if we see a much stronger release we me say —— stronger release we me say “— we stronger release we me say —— we may stronger release we me say “— we may see stronger release we me say —— we may see the federal reserve as a trigger to court we think there is still room to cut rates at this meeting and may be paused for a little while after that. what is happening here is the federal reserve has moved to a more gradual pace of production with policy rates after the first 50 basis point cut we saw and the data remains fairly firm, there is no real sharp a strong need for the federal reserve to be too aggressive like one or two years ago. aggressive like one or two years age-— aggressive like one or two years ago. farmers in india takin: years ago. farmers in india taking to — years ago. farmers in india taking to the _ years ago. farmers in india taking to the streets - years ago. farmers in india i taking to the streets pleased blocking key roads, to stop people marching towards parliament they have agreed to people agreeing to the demands over the six days. we will cross to india how much of a
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concern as this given how violent the farmer protests were back in 2021? it violent the farmer protests were back in 2021?- violent the farmer protests were back in 2021? it is a huge cause for— were back in 2021? it is a huge cause for concern _ were back in 2021? it is a huge cause for concern from - were back in 2021? it is a huge cause for concern from 12 - were back in 2021? it is a huge cause for concern from 12 and l cause for concern from 12 and afternoon yesterday till the evening we saw dramatic scenes play out as the farmers from the bordering state of october — trying to march towards delhi, police had to block them and set up barricades when they were not allowed some broke through, one layer of barricades to get to the next location but then there was stopped by the police when they decided to block all the roads and this happened for several hours demanding compensation and reiterating demands they have been doing for a while, security continues to be heightened when i was driving in today to work i saw there was a heavy police presence again because of that ultimatum you mentioned six days, farmers want that compensation for any agricultural losses. they want agricultural losses. they want a legal guarantee for the minimum support price which is the guaranteed price to get for projects and they have been asking for this for a long
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time. like you said the big concern is what potential does this have to spiral into something bigger, like what we saw in 2021 when the protest got so much momentum the government had to repeal those three farm laws under pressure from the protesting farmer groups, that is the level of protest we saw for prime minister modi �*s government. farmers in india it is a sensitive issue they are considered to be a very prominent voting bloc as well, it is very important to see which direction this takes because the farmers continue to because the farmers continue to be camped on that location waiting to see what the government does next within the next six days. if they don't they are threatening a wider protest. jaguar has revealed a new vehicle design direction. the iconic british carmaker introduced an all—electric concept car called type zero zero in miami a short while ago.
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the launch comes weeks afterjaguar released a flamboyant video which went viral online. the teaser video faced backlash, with many critics pointing to the fact it didn't feature an actual car. others praised the company for being bold and shaking things up. the us has launched another crackdown on china's semiconductor industry — this time targeting chip toolmakers. the new measures curb exports to 140 chinese companies in an effort to limit beijing's ability to produce chips that can advance the military�*s use of ai. this is the third major clampdown by the biden administration in three years and comesjust weeks before president—elect donald trump comes into office — with the new administration set to continue with measures targeting china shares of super micro computer surged nearly 30% on monday after an independent committee found no evidence of fraud or misconduct from the company's management. the ai server maker was the subject of an investigation after concerns were raised over it's governance and transparency. the review recommended that the company should replace its current chief financial officer —
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with that process now underway. 30 years ago today, the first ever playstation hit shelves, revolutionising gaming. it also marked sony's entry into an arena many thought wasjust for kids. the bbc�*s mariko oi takes a look back at the history of sony's playstation. when the original playstation went on sale 30 years ago, sony exceeded its target quickly. it needed to sell1 million units to break even. it redefined gaming hardware because it was one of the first publicly available introductions to 3d gaming. it also expanded the appeal of gaming to a broader audience. then came the playstation two launched a six years later. it became the best selling game hardware of all time, 160 million consoles
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flew off the shelves. fast forward to today we're on to the playstation five but a lot has changed with increasing popularity of mobile gaming and there as competition from the likes of xbox and steam deck and game publishers are expanding their offerings to personal computers which means owning a console is less important than 30 years ago. the strategy from their perspective is notjust about making money, on the hard ware, on the software they sell and through their storefronts and everything, so i think there is a significant commercial opportunity for sony and playstation in the business. but he adds there is a looming risk of tariffs with the incoming administration in the united states because many gaming consoles are produced in china. in the past companies like sony have argued they should be exempt, but if the price of consoles were to go up because of the trade war, it could have an impact on playstation sales in the united states and it is an important market for console makers.
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thank you for your company. i will see you soon on newsday. sport is coming your way next.
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i'm actually with the catch up. tonight not so italian puree pesticides and rivers and a 17—year—old makes history. we start in the us where president biden has been criticised by his political rivals for pardoning the crimes of his son hunter. something he had said before he would not do. some of those convictions include not paying taxes and owning a gun he should not have. some other stories now, turns out some italian tomato puree may not be as italian as the name is suggesting, instead it might be made from tomatoes grown and picked in china using forced labor. 17 items sold at well—known supermarkets in the uk and germany are likely to contain the chinese produce. every supermarket whose products are tested by the bbc
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disputes these findings. the humming chemicals have been found in the majority of english rivers, seas and lakes tested by the environmental watchdog. farmers were given emergency permission to use the pesticide to protect their crops from disease but there is now an investigation into whether that was the right thing to do. and i guess spending hours scrolling mindlessly on socials? you might be suffering from brain right, it has been chosen as oxford university press word of the year because we use it more to describe watching lots of low quality online content full. time now per ten seconds of when boiling, water sport with a sale is not attached to the board. thomas landed the first ever double backflip scoring a perfect ten in brazil. you're all caught up now, have a great night. ——
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wind foiling.
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hello and welcome to sportsday, i'm gavin ramjaun. a bright start or a ruud awakening what's in store for leicester's new manager. van nistelrooy prepares for his first game in charge. leny yoro could make his manchester united debut against arsenal in the premier league on wednesday. the rise and rise of abbi pulling. we speak to the newly crowned f1 academy champion hoping to be the first woman to make it onto a formula one starting grid in 50 years.
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hello and welcome along. it's over eight years since leicester city's fairytale premier league title. plenty has happened at the club since then, not least relegation and promotion. a third of the way through their return to the top flight, they're just above the relegation zone. the hope is new manager ruud van nistleroy can turn their fortunes around, having replaced steve cooper. he takes charge of his first game tomorrow night, at home to west ham, and spoke to the media for the first time as boss today. adam cottier reports. ruud van nistelrooy sat alongside lester's own the stand to watch them lose 4—1 on saturday, a result that left leicester players in a dark place according to defender conor cody. two days on the new man in charge warmly greeted members of the media at his first press conference
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before giving an insight into his philosophy. i am not the romantic type of manager that

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