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tv   Business Today  BBC News  December 20, 2024 3:30am-3:45am GMT

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thousands of amazon workers walked off the job at seven facilities on thursday morning to protest against what they say is unfair treatment over pay and working conditions. this comes after the company refused to negotiate with the union over a labour contract. workers in cities including new york, atlanta and san francisco took part in what the teamsters union called the largest ever strike against the firm, with demonstrations at hundreds of warehouses across the country. yet amazon, one of the largest us employers, said its services would not be disrupted during the crucial holiday shopping period. it also said that they don't directly employ the teamsters�* members on strike. the retail giant — which denies the employees�* claims of unfair practices — has long faced criticism of its working conditions and been the target of activists. the teamsters union, with more than1 million members overall, is well—known for winning contracts for members at firms
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such as ups. the union says other sites mayjoin the effort. starbucks workers are due to walk out on the job. the starbucks workers are due to walk out on the job. walk out on the “ob. the union sa 5 walk out on the “ob. the union says that h walk out on the “ob. the union says that it — walk out on the “ob. the union says that it will— walk out on the job. the union says that it will happen - walk out on the job. the union says that it will happen with i says that it will happen with 525 stores impacted. the baristas want better wages and schedules and are currently in negotiations with the coffee giant. nike's new chief executive has outlined his strategy to return the retailer to growth. giant's latest report showed declining profits year on year although we did beat analyst expectations will stop you will blame discounting is the reason behind the continued slump and will shift the focus back to sport and selling more premium products. us stock markets are ending the year on a volatile note. the
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major indices are closed with little movement on thursday following a sharp sell—off in the prior session. a key factor is the federal reserve which into that fewer rate cuts coming with donald trump coming to an office in a month, there are also concerns with the impact his policies might have on markets next year. 2025 did not look like 20242023. we 2025 did not look like 20210023. we also know the best way to lose money in a trumpet world is to know what he is going to do —— trump world. the uncertainty we see, i guess we can't make a forecast past right now or past friday with a possible shutdown. or past january where they passed a flurry of executive orders and see what has worked and then the tariff was, is itjust
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china? europe? all of that means investors have to focus on the downside a little bit. it is not really what if we are wrong but what if we do —— what do we do when we are wrong because they know they are going to be wrong at one time or another. for going to be wrong at one time or another-— or another. for asian investments, - or another. for asian investments, with i or another. for asian i investments, with these or another. for asian _ investments, with these threats of carrots, how are you weighing it up?- of carrots, how are you weighing it up? of carrots, how are you weitthin itu-? a. , of carrots, how are you weitthinitua? , ., weighing it up? asia has been a little bit different. _ weighing it up? asia has been a little bit different. we - weighing it up? asia has been a little bit different. we have - little bit different. we have seen this decoupling of the global supply chain away from china. and the move from time tojust in case china. and the move from time to just in case strategies and that has benefited many countries in asia. that will continue to be the case, especially now that nobody is talking about de— risking the supply chain but decoupling it stop both sides. i would expect a lot of asian countries to benefit from that and so that might still be a theme that people will play out here. are people will play out here. are ou people will play out here. are you pro-china? _ people will play out here. are you pro—china? do you encourage people you invest port to put money in china or not? china has both _ money in china or not? china has both structural _ money in china or not? china has both structural and - has both structural and cyclical issues right now in
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the economy. there is a real —— are really bad wealth trap right now for consumers. they can't pick up the slack. headwinds are coming, we know, from the trade side. we haven't seen a credible response yet from the authority. we have seen borrow more money which has lifted the deficit limits and makes swapping old debt for new debt but that is not reform. we need economic reform, fiscal reforms and none of this has been talked about get by think china is probably in the third year of its last decade. ., . ., in the third year of its last decade. ., .., ., , decade. how can one invest tiven decade. how can one invest given the — decade. how can one invest given the geopolitical - decade. how can one invest given the geopolitical risksl decade. how can one invest l given the geopolitical risks at the moment.— given the geopolitical risks at the moment. ~ ., ., the moment. ukraine, oil? even if ou the moment. ukraine, oil? even if you are _ the moment. ukraine, oil? even if you are just — the moment. ukraine, oil? even if you are just an _ the moment. ukraine, oil? even if you are just an equity - if you are just an equity manager, you need to pay attention to oil, you need to pay attention to things like that because that gives you hints about what people are thinking. if people were thinking. if people were thinking the middle east is going to get worse or even ukraine and oil prices won't be
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at 69, $70, it would be at 80, $90. at 69, $70, it would be at 80, $90, so we get some hints from that. you have to look at this change in correlations. now they are positively correlated. what does that mean? why do both equity and investors suddenly agree on anything? they never do. that is a hint that something is clearly wrong and you have to pay attention, you have to de— risk the portfolios and make sure you stay on liquid. china's president xijinping is in macau to attend the inauguration of the territory's new government. it's the final part of a three—day visit marking 25 years since macau's handover from portuguese rule. the chinese leader has urged the world's biggest gambling hub to play a bigger role on the international stage — calling on the territory to have the courage to change and innovate. macau is the only place in china where gambling is legal — with an economy that is heavily dependant on the casino industry. staying with china and the world's second largest economy has had a tricky year.
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china's government has announced several stimulus measures to boost confidence. officials say the country is on track to hit its growth target of around 5 percent this year, but not all investors are as optimistic. nick marsh takes a look at what lies ahead for the chinese economy in 2025. it has been a bad two years for the chinese economy back as we head into 2025, is there some room for some optimism? the short answer is not really. all the data shows that growth in china is still low, youth unemployment is still high in citizens, theyjust aren't spending like they were before the pandemic and ultimately it is the property problem which is the property problem which is at the heart of all of this and that still hasn't been fixed. , fixed. the chinese policymakers' - fixed. the chinese - policymakers' response to fixed. the chinese _ policymakers' response to the troubled — policymakers' response to the troubled housing market has on the whole been lacklustre. there _ the whole been lacklustre. there is _ the whole been lacklustre. there is a sense that they don't _ there is a sense that they don't want to roll back on the progress _ don't want to roll back on the progress they have achieved in cooling — progress they have achieved in cooling the market and bringing prices _ cooling the market and bringing prices down and reducing the
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economy's reliance on real estate _ economy's reliance on real estate but the problem is other sectors — estate but the problem is other sectors have not yet emerged that can — sectors have not yet emerged that can fill the gap left by housing in the chinese economy. recently. — housing in the chinese economy. recently, the government has been making some tweaks to its policies to try and get consumers to spend a bit more in the coming year.— in the coming year. president xi received — in the coming year. president xi received some _ in the coming year. president xi received some candid - in the coming year. president xi received some candid and l xi received some candid and blunt— xi received some candid and blunt feedback on the state of the economy during the trip to westerh— the economy during the trip to western china in september where — western china in september where he met with some senior retired — where he met with some senior retired party leaders who were willing — retired party leaders who were willing to speak to him and very— willing to speak to him and very blunt terms and that seems to have — very blunt terms and that seems to have been a catalyst for this— to have been a catalyst for this pivot towards stimulus but president xi's orientation overall— president xi's orientation overall has been to stay the course _ overall has been to stay the course and keep the faith that the focus _ course and keep the faith that the focus on high—quality growth _ the focus on high—quality growth would eventually yield dividends after a difficult transition period.- dividends after a difficult transition period. many of china's problems - transition period. many of china's problems are - transition period. many of- china's problems are structural and they will not be fixed
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overnight. xijinping basically overnight. xi jinping basically wants overnight. xijinping basically wants to evolve, to totally reshape what makes china prosperous, moving away from mass manufacturing and property to high—tech industries like ai, renewable, biotech. that is going to take years if not decades to achieve so really a long—term project but in the meantime let's not forget there is also the small matter of a second ronald trump presidency to contend with as well. as we head towards the end of the year, it's a good time to look back on what have been the hottest topics online. according to google, the cost of living and extreme weather were the most widely searched subjects in the asia—pacific region. elections were also popular in searches — as half of the world's population went to the polls. google's yolyn ang took me through top search trends this year. we saw a variety of searches across the different countries.
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in countries like australia actually the searches took a diy turn. how to repair the car on their own or how to tune a car. locals looking to search to find information to help them get —— get by and tune up things that were on their own that they would otherwise have paid for. ~ they would otherwise have paid for. . ., ,., they would otherwise have paid for. . ., ., for. we also saw extreme heat. when peeple — for. we also saw extreme heat. when people looking _ for. we also saw extreme heat. when people looking at - when people looking at remedies?— when people looking at remedies? . ,, ., ., remedies? excessive heat, heat wave, remedies? excessive heat, heat wave. these _ remedies? excessive heat, heat wave, these terms _ remedies? excessive heat, heat wave, these terms were - remedies? excessive heat, heat wave, these terms were across| remedies? excessive heat, heat| wave, these terms were across a variety of impact countries. india, philippines, even singapore. all the countries that experience excessive heat, folks were looking for ways and information for people to mitigate that. in india one of the most interesting searches that came up was in the near me categories, so things near me. people were looking for air quality index. basically
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finding ways and practical information to be able to navigate the excessive heat safely. and that's it for this edition of business today. thanks for watching.
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hey, i'm lola with the catch up. tonight: france's mass rape trial. unwell network's latest signing. and fi's got a new star. in france, the mass rape trial which shocked the world has come to a close. dominique pelicot has beenjailed for 20 years afterjudges found him guilty of the aggravated rape of his ex—wife, gisele. the 72—year—old drugged and organised the repeated rape of ms pelicot by strangers over a ten—year period. 50 other men have also been sentenced. outside court, gisele pelicot thanked her supporters. megan thee stallion has failed against lanez. megan is lanez. megan is against lanez. megan is accusing him of her continuing accusing him of her continuing to harass her behind bars. to harass her behind bars.
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comedian and cop podcast to comedian and cop podcast to grace o'malley is joining alex grace o'malley is joining alex coopehs coopehs grace o'malley is joining alex cooper's unwell network. grace o'malley is joining alex cooper's unwell network. recently, o'malley quit recently, o'malley quit barstool sports and her podcast barstool sports and her podcast plan bri which she co—hosted plan bri which she co—hosted with former best friend brianna with former best friend brianna chickenfry. and in f1 news, new zealand's chickenfry. and in f1 news, new zealand's liam lawson has been promoted liam lawson has been promoted to red bull. to red bull. the 22—year—old will be the 22—year—old will be max verstappen's team—mate max verstappen's team—mate for the 2025 f1 season. for the 2025 f1 season. time now to 10 seconds of a thief who felt he'd been wronged. he'd been wronged. police in newjersey are searching for two suspects caught on a doorbell video caught on a doorbell video camera stealing a parcel. camera stealing a parcel. but one was seen returning but one was seen returning days later to complain days later to complain after the video after the video was posted online. you're all caught up. have a great night! was posted online.
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hello, and welcome along to the programme. we'll start with the english league cup, where tottenham just about survived a manchester united comeback to win 4—3
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fury�*s face—off — his press conference with oleksandr usyk ends with a ten—minute stare into each other�*s eyes. hello, and welcome along to the programme. we'll start with the english league cup, where tottenham just about survived a manchester united comeback to win 4—3 and progress to the semi—finals. spurs were 3—0 up at half—time and cruising, before united got themselves back into the game. the bbc�*s football correspondentjohn murray was watching. this was the second consecutive 4—3 in this stadium as, here, tottenham reach their first semifinal under ange postecoglou. on a bad night for the goalkeepers, manchester united's bayinda parried out a shot to fire in the first, and an already exciting match swung spurs' way early in the second half as first kolesevsky made it 2—0, and the crowd were singing ange postecoglou's name after slelenky sent through his second of the night. and the crowd were singing ange postecoglou's name after solanke sent through his second of the night. then, fraser foster presented two goals through zirkzee and diallo.

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