tv Business Today BBC News December 6, 2024 2:30am-2:46am GMT
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i'm steve lai in south korea, president yoon has a lot of support of his own party chief who was calling for his suspension. the threat of a larger strike action still looms. more troubles for boeing. a deal overfatal crashes is rejected by a usjudge. hello and welcome to business today. i'm steve lai live in seoul. i am in front of the national assembly in south korea. just behind me in the building there are ongoing meetings, and talks with the ruling party as well as the opposition party as well. we know in the last hour
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orso well. we know in the last hour or so that south korea's ruling party chief has called for the "swift suspension" of the president's duties. he says citizens could be in "great danger" if president yoon remained in power. han dong—hun�*s comments suggest a change in the people power party's position — a day earlier it opposed the impeachment of president yoon over his imposition of martial law. parliament is set to vote on saturday on whether president yoon suk—yeol should be impeached. the opposition parties are currently holding meetings of their own. the country's largest labour group — the kctu, which has over1 million members — has called for indefinite industrial action until the current administration steps down. there have been sporadic protests around south korea, ahead of an impeachment vote on saturday evening. i speaker earlier to former trade minister yeo han—koo. he reacted to the change in the ruling party's position. i think this is a very dramatic
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situation. i understand that until last night the ruling party was a sort of united, opposing to the possible impeachment but with this sudden change of position by the ruling party leader, i think this could really plunge the ruling party into further turmoil. , ., ., turmoil. tell us more about the lanned turmoil. tell us more about the planned strikes _ turmoil. tell us more about the planned strikes to _ turmoil. tell us more about the planned strikes to take - turmoil. tell us more about the planned strikes to take place i planned strikes to take place here in south korea calling for the president removal from office? , ., ., the president removal from office? , ., , the president removal from office? , . , , office? president yoon has been talkin: on office? president yoon has been talking on labour _ office? president yoon has been talking on labour unions - office? president yoon has been talking on labour unions and - talking on labour unions and pushing through labour reforms so far during his term, and the labour unions seem to try to seize the moment of this catastrophe in a political blunder by president yoon to really build and push through this impeachment. i think if this impeachment. i think if
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this labour union, just to go out the street, or the civilians kind ofjoining these protests, i think it will be really kind of — the whole situation will be political, and more crisis may continue. give us a sense of the scale of his planned to strike the now co—ordinated other different trade unions when it comes to solidifying this message of trying to get president yoon out of office?— trying to get president yoon out of office? now i think this strike is starting _ out of office? now i think this strike is starting from - out of office? now i think this strike is starting from this - strike is starting from this sector of the labour union but i think it easily could have spread out into other sectors as well, for example, the automobiles, machinery, etc, and especially these are the labour unions that are very important. this industry sector is important as career export
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which is basically a driving force of the korean economy growth so i think this political turmoil could just kind of be contagious to this economy performance and then i think it will be really not a positive for the korean economy as well. ., , as well. the longer this clinical— as well. the longer this clinical uncertainty - as well. the longer this | clinical uncertainty goes as well. the longer this - clinical uncertainty goes on, the longer and the bigger concern on the economic front. we are keeping a close eye on things happening here. the meeting is under way by the leading tvp party and the major opposition parties as well. will we talk of the impeachment scheduled to take place tomorrow? they're right moving parts happening behind the scenes and we are keeping across all of it for you right here in bbc news. let it to speed with the other news around the world. boeing's plea deal over two fatal 737 max crashes has been rejected by a us districtjudge. the judge faulted a diversity and inclusion provision
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in the agreement. it's another blow for the beleaguered plane maker. boeing has not commented on the decision. the bbc�*s ritika gupta has more from new york. more troubles for boeing, a federaljudge rejecting the plea deal that sought to let them avoid criminal prosecution over the two fatal 737 max crashes, the surprise with prolonging the recovery from those past scandals and the us districtjudge sided with the family members and people killed during the crashes who urged him to reject the agreement. he said the provisions that are proposed in the settlement would improperly require race to be considered in the hiring of an independent monitor and that his role in making sure boeing abides by the deal would be minimised because of the decision is yet another setback for the push to get back on track for boeing after what has been a year of crisis that began with those fatal 737 max rushes and revived earlier this year when a fuselage final blew out on
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the same jet. the a fuselage final blew out on the samejet. the new catastrophe led to revelations of poor quality controls within their factories, of poor quality controls within theirfactories, increased scrutiny from regulators and customers, and a management shakeup that included the ousting of the ceo. the stock has lost nearly 40% this year, the biggest decline in the dow jones industrial average. staying with the us, all eyes are on the jobs report due to be released later on friday. unemployment has remained steady at around 4% all year. but fresh data shows that the number of americans making new applications for unemployment benefits rose last week. for more, i spoke to economics professor robert z lawrence. he gave us his expectations of the data. ., ., ~ the data. the labour market still looks — the data. the labour market still looks good. _ the data. the labour market still looks good. we - the data. the labour market still looks good. we had - the data. the labour market still looks good. we had a i the data. the labour market l still looks good. we had a bad month last month because of basically hurricanes and disturbances and so i wouldn't be surprised if the report tomorrow morning is fairly robust. , ~
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tomorrow morning is fairly robust. , . , robust. president-elect trump sa s his robust. president-elect trump says his policies _ robust. president-elect trump says his policies will _ robust. president-elect trump says his policies will herald - robust. president-elect trump says his policies will herald a l says his policies will herald a manufacturing renaissance, is he right? i manufacturing renaissance, is he riuht? , . ., , he right? i very much doubt that. manufacture - he right? i very much doubt that. manufacture for - he right? i very much doubt - that. manufacture for president biden and president trump have both emphasise manufacturing in their policy stances. president biden using industrial policy, trump now wanting to use tariffs, but in fact if you look over the last five years, the manufacturing employment level in the us is barely above where it was when covid—i9 struck. by contrast, employment elsewhere in the economy has been fairly robust. i would be very surprised looking forward if there is in a sense a big resurgence in manufacturing employment, and in any case manufacturing today in the us constitutes about eight, 8.5%
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of total employment, so it is unlikely to be a big factor in what happens in the us labour market. ., , ., , what happens in the us labour market. ., , ., market. donald trump has named david sacks _ market. donald trump has named david sacks as _ market. donald trump has named david sacks as the _ market. donald trump has named david sacks as the incoming - david sacks as the incoming administration a white house artificial intelligence and crypto chief. here is the former chief operating officer of paypal and will work on a legal framework for the crypto industry. trump has also picked former us senator david perdue to be ambassador to china. meanwhile, the head of a leading us—china business groups as us consumers will be the biggest losers ever donald trump is ahead with his tariff proposals. trump has threatened to take action against canada, mexico and china on his first day in office. bennett thompson has been speaking to the president of the american chamber of commerce in china. it is frustrating to us sometimes that number one companies and consumers are a
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political football. companies and consumers are a politicalfootball. in companies and consumers are a political football. in the end, companies in the us recognise that they benefit from trading with china, the frustrating part is that many politicians in the us and consumers in the us do not realise the benefits that us consumers and companies get from trading with china, but is a lot of work to remind people that tariffs will only hurt those who consume that are primarily us consumers. the chinese economy _ primarily us consumers. the chinese economy itself is in a different position that it was in the first trump presidency, grappling with its own debt crisis, property crisis, unemployment, particularly with young people. does that change the balance of power in these negotiations? china may be forced to come to the table in a way that in the first trump presidency they do not need to? it certainly is true that more recently when the chinese leaders talked, in some ways i would say the more humble or realistic than the economy does
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have challenges, the chinese economy is not going as fast as it used to. it does mean that when foreign companies look at their production in china or consider additional investments in china that the chinese government is more welcoming of that investment and so recently i had a meeting with a small group of business leaders and they said a couple of things, wymah, we appreciate companies who participate in the global supply chain original wanted to go away, also hinting that indicators in the economy are indicators in the economy are in their view, the chinese economy is recovering, the indicators are strong, so at the same time the chinese government is trying to continue to get support from foreign companies to participate in the chinese economy by making things here and sourcing them here.- and sourcing them here. before we no, and sourcing them here. before we go. we _ and sourcing them here. before we go. we are _ and sourcing them here. before we go, we are keeping - and sourcing them here. before we go, we are keeping a - and sourcing them here. before we go, we are keeping a close i we go, we are keeping a close watch of these in south korea. we are showing you live pictures of the national assembly, the ruling party is holding a meeting currently in the general assembly also
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hey, i'mjulia with the catch up! tonight — updates from the new york shooting, a reggae football shirt and an ugly cat owner's plea. but we'll start in new york where police are searching for a person of interest after the boss of a us insurance company was shot and killed. this is the moment when brian thompson was shot outside a hotel, which police are calling a targeted attack. they've put out pictures of a person wanted for questioning. they're also using facial recognition technology against the person spotted on cctv. investigators say there were
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words written on the bullet casings found at the scene. the words said: "deny," "defend," and "depose." some other stories now. tyler kerry, a 20—year—old british tourist, was found dead in a lift shaft in turkey on friday, and his brother has claimed it was murder. their grandmother called it "a family holiday of a lifetime that turned into a nightmare". she said that police were treating mr kerry's death as suspicious. the bbc has reached out to the turkish police but it hasn't heard back yet. and newport county has teamed up with the rock band skindred to create a reggae football shirt. the band got to number two in the uk charts last year. the team will wear the shirt — inspired by the city's caribbean community — in their league two match against carlisle on saturday. and here's 10 seconds of ugly cat confusion. to be honest, i don't think she's that bad. her name is lulu, by the way, but her owner has put out
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