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tv   Business Today  BBC News  December 6, 2024 5:30am-6:01am GMT

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boeing under pressure: a usjudge rejects a landmark plea deal tied to two fatal 737 max crashes. hanging in the balance: tiktok awaits a court ruling on its north america ban as a sale deadline looms. plus, patience is a virtue:
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eu chief von der leyen is in south america seeking to finalise a long—delayed trade deal 2a years in the making. and tis the season — for shopping! we find out about a festive campaign looking to give small businesses a boost this christmas season. live from london, this is business today. i'm mark lobel. we start in the us where the embattled plane maker boeing has had a plea deal it made in a case related to two deadly crashes rejected by a judge. into a years—long legal battle that began after two boeing 737 max crashes in 2018 and 2019, killing 346 people. injuly, boeing reached a plea agreement with the us justice department to resolve the case, agreeing to plead guilty to one count of criminalfraud,
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face independent monitoring and pay a $243 million fine. but now a districtjudge has rejected that agreement faulting a diversity and inclusion provision in the deal. ritika gupta has the details. 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 twists prolonging the recovery from those past scandals. and the us districtjudge sided with the family members of 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
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fatal 737 max crashes, and revived earlier this year when a fuselage final blew out on the same jet. ——panel. the new catastrophe led to revelations of poor quality controls within their factories, increased scrutiny from regulators and customers, and a management shake—up that included the ousting of the ceo. the stock has lost nearly 40% this year, the biggest decline this is another blow for boeing, centring on the diversity considerations for a monitor which was also posed by the families of the victims and conservatives in america, the idea you have these diversity considerations when choosing the best person for the job. boeing has 30 days to respond by dragging out the case, they really wanted to see the back of quickly, they cannot be happy?
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of quickly, they cannot be ha . . ? , of quickly, they cannot be ha . ? , , , of quickly, they cannot be ha . . ? , , . ., , ., of quickly, they cannot be ha“? ,, ., ., happy? this is the case of one step forward _ happy? this is the case of one step forward and _ happy? this is the case of one step forward and to _ happy? this is the case of one step forward and to make - happy? this is the case of one | step forward and to make steps back for boeing at the moment as it tries to veer away from the crisis that has engulfed the crisis that has engulfed the company, yes, the decision is a victory for family members of those people killed in those early crashes in 2018 and 2019, and it does focus on the role of a monitorfor this probation period that boeing is under. it doesn't look as though there will be a resolution and that boeing and the department of justice will get back together and find a solution that suits the department ofjustice and one that boeing can work with, but another part of this long and drawnout process, and probation is a good word, actually, because certainly there has been a lack of trust for boeing, it is trying to claw that back, and also engulfed in all of these are strikes as well with workers
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that are set back reduction even further after the suspension of production following the latest incident in july with the blowout of beef fuselage. all in all, it is still such a mess for boeing and this isjust is still such a mess for boeing and this is just another part of it. and this is 'ust another part of it. ., ., .,, of it. you are right, those fatal crashes _ of it. you are right, those fatal crashes followed - of it. you are right, those fatal crashes followed by | of it. you are right, those | fatal crashes followed by a door panel blowing off at 16,000 feet, problems also in the space industry for them and those strikes on the ground, the ceo troubles continue, this is a real test of leadership now, isn't it?— is a real test of leadership now, isn't it? yes, he only took over _ now, isn't it? yes, he only took over in _ now, isn't it? yes, he only took over in august, - now, isn't it? yes, he only took over in august, he i now, isn't it? yes, he only| took over in august, he did manage to negotiate with unions the end to that production strike which caused fresh headaches, because all of the partners, and the customers, they have had an awful lot of patience, the likes of ryanair ceo saying it is really affecting our capacity and our growth because we are waiting
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for these extra aircraft to be delivered and still waiting, and it appears as a production has not yet fully gotten back to year. lots of stuff having to year. lots of stuff having to be retrained with these extra safety precautions and all eyes are just on what is happening in terms of those levels of safety on the production lines right now. so it is a very slow progress. the share price has more than halved since these incidents and has not changed that much, but i do think it is another setback. but i do think it is another setback-— but i do think it is another setback. . ., , ., setback. the ramifications for the wider _ setback. the ramifications for the wider airline _ setback. the ramifications for the wider airline industry - setback. the ramifications for the wider airline industry as l the wider airline industry as well, agreed to have you on the programme, as always. staying in the us, and another court case, as the fate of tiktok in north america could be decided this week. in a decision due today, a federal appeals court is set to say whether or not they uphold an appeal by tiktok over a us law, which demands the social media app is sold by its chinese parent company bytedance. the law was prompted
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by concerns that us users' data is vulnerable to exploitation by china's government. for more, joining me now is social media expert jasmine enberg, vp and principal analyst at emarketer. agreed to have you on the show. with half of all americans on tiktok, a bennett seems inconceivable, but how could this play out? it inconceivable, but how could this play out?— this play out? it is not looking _ this play out? it is not looking good - this play out? it is not looking good for- this play out? it is notl looking good for tiktok this play out? it is not - looking good for tiktok rate now given the difficult day it had in a court in september and as you mentioned we are expecting a decision today, and there is a lot of different ways physical accorded shakeout. we could see the judges uphold the law in which case tiktok will appeal to the supreme court pretty quickly, we can also see the judges uphold the law but say that it is unfair to tiktok because it singles out one specific company which could then lead to a delay, or we could see the judges strike down the law,
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that last scenario is probably the least likely scenario, given how with the court day plead out in september, but what we do know is there is still a lot in the air and the sagais still a lot in the air and the saga is going to continue, especially given that one day after the deadline for the banned law on 20 january, donald trump is due to take office. ., , ., , office. that is an interesting oint office. that is an interesting point because _ office. that is an interesting point because he _ office. that is an interesting point because he prompted | office. that is an interesting . point because he prompted this man, he was in favour of it, a big backup, and that he seems to have changed his tune, why? he was the first to try to ban tiktok in 2020 and he do that through an executive order which ultimately failed. since then we have seen him a join tiktok, he has also said that he opposes banning tiktok and there are reports that suggest he would try to halt the
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enforcement of the ban once he takes office. that is a lot easier said than done, so while trump could be a lifeline for also clearly lays out a ban, so relying could jmp to save also clearly lays out a ban, so relying could bep to save also clearly lays out a ban, so relying could be a to save also clearly lays out a ban, so relying could be a lifeline for trump could be a lifeline for tiktok, there is still a long tiktok, there is still a long way to go for that to happen, way to go for that to happen, many of the people who he has many of the people who he has picked for his administration picked for his administration support a banned, project 325 a banned, project 325 also clearly lays out a ban, so support a banned, project 325 also clearly lays out a ban, so relying on trump to save relying on trump to save tiktok is not really a strong strategy here. at is not really a strong strategy here. �* ., ., ~ , is not really a strong strategy here. ., ., ~ , , here. a lot of americans rely on tiktok — here. a lot of americans rely on tiktok to _ here. a lot of americans rely on tiktok to make _ here. a lot of americans rely on tiktok to make money i here. a lot of americans rely| on tiktok to make money for themselves, many of the american politicians use it to campaign. opposition amongst the public has actually dropped, hasn't it? public su - ort dropped, hasn't it? public suoport for _ dropped, hasn't it? public suoport for a _ dropped, hasn't it? public support for a ban - dropped, hasn't it? public support for a ban has - dropped, hasn't it? public- support for a ban has declined significantly over the past couple of months, one interesting thing we do see in the data though is that there tends to be more support among republicans and right—wing
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tends to be more support among republicans an a �*ight—wing tends to be more support among republicans an a sales ning tends to be more support among republicans an a sales in |g tends to be more support among republicans an a sales in one $100 million in a sales in one day in the us alone, so that just shows you that people are continuing to use the app for communication, entertainment and commerce, in all of the ways they would use it even without the prospect of a ban moving large. without the prospect of a ban moving large-— without the prospect of a ban moving large. jasmine, thank ou for moving large. jasmine, thank you forjoining _ moving large. jasmine, thank you forjoining us. _ more from the us now as president—elect trump has made another pick for his top team, naming the former chief operating officer of paypal david sacks as his artificial intelligence and cryptocurrency czar.
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this on the week when bitcoin broke the $100,000 mark for the first time. mariko oi has been following the story for us. tell us more about donald trump's latest pick? absolutely, this is yet another step towards overhauling us policy towards cryptocurrency industries, trump posted on media that david sacks will work on a legal framework so that the crypto industry has the clarity he has been asking for, he says, and can thrive in the us. trump supporters in the tech sector generally want to see minimum regulation around ai and cryptocurrency such as bitcoin because they argue that washington would stifle growing innovative sectors with excessive rules. an interesting shift for donald trump who was saying crypto was a scam, now
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and raising digital assets, especially since his campaign, promising to make the us the crypto capital of the planet and accumulating a national stockpile of coin as well. david sacks is 53 years old and a co—founder of a badger capitalfirm and he a co—founder of a badger capital firm and he was an early leader of paypal which is a payment processing firm that was bought by ebay in 2002. he was bought by ebay in 2002. he was also an early evangelist of cryptocurrency, seeing as early in 2017 that he said it feels we are witnessing the birth of a new kind of web, of course, bitcoin broke $100,000 for the first time yesterday and currently trading slightly below that.— currently trading slightly below that. ., ~' , ., , below that. thank you very much. to uruguay now, where the european commission chief ursula von der leyen is seeking to finalize a major trade deal with a group of south american nations. known as the eu—mercosur trade deal, it would reduce tariffs and other trade barriers between the eu and argentina, brazil,
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paraguay and uruguay, creating a market of around 700 million consumers. but it's already been 2a years in the making and faces steep opposition from countries like france and poland, who are worried by a potential flood of agricultural products hitting their own producers. joining me now is stefan legge, economist at st gallen university. how significant what a deal be for trade between the two sides of a market of 700 million people, and which parts in that market would gain the most? i would look at this potential deal from two perspectives, would look at this potential dealfrom two perspectives, one is this perspective of international trade and he would create a large market of 700 million people and reduce barriers between the european union and the other countries, so in general it would certainly be an opportunity for
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both sides to have better access to an important market. the european union would like to have south american countries as a destination especially if exports to china and the us become difficult and vice—versa for the other countries, access to the european market would be a blessing. however, iwould european market would be a blessing. however, i would take a second position and that is the geopolitical position, the eu has to decide whether or not it wants to be a serious player into politics, and that comes at a price. the easy thing is to criticise china and the us for what they are doing, the harder part is to show that you can do better and reaching a deal with these countries, despite the fact that every some internal opposition in the eu, are signals of the world that the eu is serious about being a geopolitical player, so in essence i was the eu has to decide whether it wants to be someone or not.—
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decide whether it wants to be someone or not. you say there is a political — someone or not. you say there is a political reasoning - someone or not. you say there is a political reasoning as - is a political reasoning as well as an economic one but you did touch on that difficulty within the eu, the divisions, are they significant? france has said the deal is not acceptable and has to be ratified by member states, doesn't it?— doesn't it? yes, this is the second case _ doesn't it? yes, this is the second case of— doesn't it? yes, this is the l second case of international trade where a major eu country opposes the legislation, but rememberjust a couple of weeks ago the eu introduced tariffs on electric vehicles from china, and germany was opposed to the problem for germany was they could not find another country in the eu enough to block it, so the question he will be whether fries cannot so much convince poland or denmark or austria to block it but rather whether they can draw italy into the blocking minority, so then the french president would find enough votes in the counsel of the eu
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to block the deal.— to block the deal. thank you very much — to block the deal. thank you very much for _ to block the deal. thank you very much for taking - to block the deal. thank you very much for taking us - to block the deal. thank you . very much for taking us through all of that stop plenty more to come on the programme. around the world and across the uk, this is bbc news.
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it's been quite a year for elections in 2024 — in fact, there have been more general elections this year across the globe than any other, impacting more than half the world's population. well, tomorrow it's ghana's turn with the west african country going to the polls to elect a new president and parliament. and it's the economy that's in focus as people struggle with a cost—of—living crisis and rising prices with inflation hitting 23% last month. joining me now is development economist paul frimpong. one of the key issues were voters in the selection? is it
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the economy and jobs particularly? i the economy and 'obs particularly?�* the economy and 'obs particularly? i think this election _ particularly? i think this election that _ particularly? i think this election that is - particularly? i think this l election that is happening tomorrow has issues on the economy at the centre of the debate, especially when attracting the conversation happening between the major political parties, in this case the incumbent government, and the incumbent government, and the politician party, the national democratic congo, so as we have seen ghana has been under this rule since 1982, and is split in half for 15 years, so therefore you can imagine the debate happening around now, as a result of this party being in powerfor eight years, theissues being in powerfor eight years, the issues on the economy is quite right, we have seen in
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recent times that the experience is quite difficult, in a crisis, as you say, and that has made a decision to gather enough evidence to present that this is what is happening in the last eight years. in fact, when you look at the measuring of the inaudible thinking about the government, there are a number of issues about the economy, keyissues of issues about the economy, key issues when we talk about inaudible, inflation, orthe inaudible, inflation, or the crises inaudible, inflation, orthe crises the government has for a bailout and restructure the domestic debt and unemployment. there is a long list of issues. eggs and fresh tomatoes doubled in price over the last year, you are expected to be difficult for the incumbents but as i understand it is a close election and you have a vice president facing a former president, a carbon copy of the
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american election, and unemployment having shot up from one in 20 to one of several young people, is it the youth vote we are looking for and what are the solutions that the parties are talking about? will they rely on the ghana goals? how will they get out of this economic mess? it is goals? how will they get out of this economic mess?— this economic mess? it is very interesting- — this economic mess? it is very interesting. it _ this economic mess? it is very interesting. it has _ this economic mess? it is very interesting. it has been - this economic mess? it is very interesting. it has been the i interesting. it has been the centre of the debate for both parties. it is one of the key issues at the heart of the young people in this current situation. when you look at the campaign messages from both parties, you can see why they believe that inaudible should believe that inaudible should be a key part of their messages. looking at the technology, to actually create jobsis technology, to actually create jobs is the first part of their policy to actually build on the skills of the young people, make themselves employment, inaudible, and for the other
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party, they are proposing free for the first year of tertiary education and again inaudible, also the innovation and also focus on stem and education, so you can see that we are conscious of the fact that as we see in ghana now, there is about 57% of the population, and this is reflected in the voter register as we have it now. ~ ., ., now. we will find out what eo - le now. we will find out what people think _ now. we will find out what people think of _ now. we will find out what people think of those i now. we will find out what i people think of those issues tomorrow, thank you very much. now, arguably, the most influential election this year has of course been that of donald trump for a second term as us president. while not due into office untiljanuary, his influence is already being felt across the world, particularly when it comes to his threat of major new trade tariffs, with china facing the largest. but could they end up backfiring?
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well, according to the president of the american chamber of commerce in china, the us consumer could end up the biggest loser from this mixing of politics with economics. he's been speaking to my colleague ben thompson. it is frustrating to us sometimes that, number one, 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 it is a lot of work to remind people that tariffs will only hurt those who consume, that are 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?
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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 they were more humble or realistic than the economy does have challenges, the chinese economy is not growing 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, one, they appreciate companies who participate in the global supply chain, don't want that to go away, also hinting that 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
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to participate in the chinese economy by making things here and sourcing them here. and you can find out about more about the global impact of donald trump's plans for new tariffs on talking business this weekend right here on bbc news. it's that time of year again with christmas just around the corner. how are you doing with your christmas shopping? are you panicking yet? well, not to worry, there's still plenty of time with tomorrow traditionally one of the busiest shopping days of the year here in the uk. it also happens to be small business saturday — the day when we're all urged to show our support to small businesses, the likes of your local independent shop or cafe, to help deliver a boost at the end of a challenging year. so, what's it all about? michelle ovens is the founder of small business saturday. let's start with the fact that retail sales fell in november compared to last year. why have britain's high streets suffered a bad start to the festive season? well, of course we hope they are saving up for small business saturday tomorrow, but there has been lots of things
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going on in november and these have been dipping and confidence, terrible weather, of course, but we have done research with small businesses and consumers over the last few months and it does look more optimistic going into the festive season, we remain optimistic as a small business saturday, and there has been a lots going on in the last few years, the cost—of—living crisis, although things are are starting to settle down a bit, costis starting to settle down a bit, cost is still high for small businesses, still high for consumers.— businesses, still high for consumers. ., ,, consumers. how can consumers be drawn towards _ consumers. how can consumers be drawn towards the _ consumers. how can consumers be drawn towards the small _ drawn towards the small businesses? are we looking for popular christmas items that other sell well traditionally or what is new this year? what can small businesses offer for christmas presents? this can small businesses offer for christmas presents?— can small businesses offer for christmas presents? this is the thin , christmas presents? this is the thing. does _ christmas presents? this is the thing, does not _ christmas presents? this is the thing, does not matter- christmas presents? this is the thing, does not matter how i christmas presents? this is the l thing, does not matter how much you spend, shift spent a big business we small business. why? business we small business. wh ? ., business we small business. wh 2 ., ., y business we small business. wh? ., ., __ why? that money stays in the community. — why? that money stays in the community, we _ why? that money stays in the community, we know- why? that money stays in the community, we know from i community, we know from research that 86% of consumers
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understand the value of small businesses. not necessarily more expensive, we know it is an economic thing, small businesses will give you a personal experience, value, they will know your name. often more sustainable, shorter supply chains, lots and lots of reasons to keep that span local. a, , reasons to keep that span local. , , ., local. maybe the personal experience _ local. maybe the personal experience will _ local. maybe the personal experience will deliver i local. maybe the personal- experience will deliver people when they are trying to choose a particular present for that particular person, great having you on, great having your company as well, stay with us here on bbc news. hello there. well, it was wet and windy on thursday, and the weather is about to turn even worse still as we head into the weekend with our next named storm, storm darragh, barrelling in from the west. damaging gusts of wind, that's what we're most concerned about, but also the risk of flooding, especially in the northwest. and there will be some snowfall over the higher ground of scotland. but friday, a fairly quiet day of weather — the calm before the storm — particularly for the
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eastern half of the uk. it's a cold start to the morning compared to how mild it was on thursday. the sunshine lasting longest in the east, high cloud pushing eastwards and turning very wet, very windy by the end of the afternoon across northern ireland and for these western coasts too. temperatures staying in single figures, so a lot cooler than on thursday. but here comes the storm on friday night into saturday, deep area of low pressure, tight squeeze on the isobars — first down towards irish sea coasts and then the strength of the winds transfers to north sea—facing coasts on saturday afternoon. there are plenty of weather warnings in force, but this is the most serious, an amber warning for damaging gusts of wind, gusts exceeding 70 to 80 miles an hour, perhaps, on some irish sea coasts. within these areas, we're likely to see coastal overtopping, transport disruption and even trees down. so this is the small hours, then, of saturday — blizzard—like conditions over the higher ground of scotland, even perhaps some snow to lower levels and across the pennines and the cumbrian fells. the rain will be relentless in the northwest, but it's mostly the strength of the winds we're concerned about. this is how we're starting off
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the day on saturday. now, if you've got travel plans — or indeed pre—christmas plans, perhaps — then do keep checking the forecast. it will be very windy. even inland across england and wales, we're expecting gusts of 50 to 60 miles an hour. the winds easing a little through the afternoon for irish sea coasts but picking up for north sea—facing coasts. coastal overtopping expected across parts of norfolk, and these will be the day's temperatures — not that you'll notice the temperature too much. it will feel highly unpleasant outside and there'll be a lot of added wind chill, too. now, the area of low pressure pulls away as we head into sunday. high pressure builds in behind, but there's a brisk northerly wind and it certainly is going to feel cold and there'll be a lot of added wind chill, too. windiest towards the eastern half of the uk, plenty more showers piling down on that wind, and temperatures for most will stay in single figures into the start of next week. bye— bye.
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good morning, welcome to breakfast with naga munchetty and charlie stayt. our headlines today. the prime minister tells breakfast people will be better off by the next general election, but fails to rule out more tax rises if needed. what i can't do is say to you, there are no circumstances
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and foresee the future that would not lead to any change at all. what i can't do is say to you, there are no circumstances unforeseen in the future that would not lead to any change at all. but i can tell you our intention was to do the tough stuff in that stuff in that budget. in a wide ranging interview we speak to sir keir starmer about migration, the economy, nhs waiting lists and his falling popularity. a manhunt continues following the killing of a health

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