tv Business Today BBC News February 3, 2025 7:30am-8:02am GMT
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are reacting to the flurry of tariffs announced by president trump over the weekend. hit its lowest level since 2003. the mexican peso has also sunk. asian share markets are falling and the price trading partners. let's hear the latest from president trump who was asked by bbc whether we would rule out tariffs against the uk. in his crosshairs. we'll see how things work out, it might happen with that but it will definitely happen with the european union,
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today about the tariffs he is imposing, due to come into effect at midnight on tuesday. consumers to choose canadian. action with 25% tariffs against $155 billion worth of american goods. of goods as of tuesday, followed by further tariffs on $125 billion worth of american products in 21 days�* time to allow canadian companies and supply chains to seek to find alternatives. kadee russ is professor
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japan is down 2.7%. european markets open 25 minutes�* will ”willbe ” will be across there, the us 7 there, the us wall are pointing to lower open, all on a sharply lower open, all on fears that a broad trade war and hit to global growth. and the hit to global growth. no reaction markets in and the hit to global growth. no reacti china narkets in and the hit to global growth. no reacti china narkets they are mainland china because they are close to the �* luna holiday. i asked justin urquhart—stewart, founder hurts all economies. inflationary, potentially, well, no, it is inflationary. so i'm afraid this is going to be bad news all the way
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around and markets will react accordingly, we've already started seeing some impact certainly in the currencies. but it is rather perverse. to other countries. when it happened with china, for example, when you had but also, justin, we should mention china moved a lot be a good idea. but now obviously that has been hit from that angle as well. yes, and so really what trump will be doing is trying to make sure that no one is actually going to try and benefit from this. everything possible to try and make sure that anything is for the usa. less trade going on.
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so it is just what we didn't need at this particular moment. so, what do we have to try and do? to find, i think, in politics. are having to think about? because obviously they've got to plan for the long term. president trump is in office now for the next four years manufacturing in canada, in mexico, like the big car—makers, for example, will not necessarily bring no, they won't because they made some strategic decisions. of course, the agreements were made with both mexico and canada with america in the tripartite agreement at lower tariff rates, so this goes directly against that.
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very reluctant to do so because it is a big investment and you are not going to shut that down, particularly at a time, particularly at a time, for instance, when you've got, for instance, when you've got, say, car manufacturing say, car manufacturing going through such a major going through such a major change at that moment with electrification and other such issues coming. so look out for further changes to investment. that was the market reaction, that was the market reaction, as i mentioned, european as i mentioned, european trading day �*way in trading day gets under way in trading daygetsunder way in. minutes, i you. 20 minutes, iwill update trading day gets under way in 20 minutes, i will update you. sir keir starmer is heading to brussels to join a gathering of european union leaders 7 of european union leaders 7 this marks the first time this marks the first time a british prime minister has done so since brexit. starmer is heading over starmer is heading over the english channel for talks the english channel for talks meet nato secretary meet nato secretary general mark rutte. the trip is part of what he general mark rutte. calls a reset between the uk and the european union. and the european union.
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general at the institute of export & international trade, and he said that even though officially this meeting is about defence, trade and tariffs this is a really important meeting and is the latest to get a much closer relationship with the eu, to try and overcome some to try and overcome some of those fairly significant of those fairly significant frictions that still exist frictions that still exist between trade with between trade with the eu and the uk. and with the threat of tariffs from the us, it is even more important, isn't it, that the eu and uk trade relationship improves but to what extent should it improve? should it improve? because there is a lot because there is a lot of pressure on the prime of pressure on the prime minister to get the uk back in the customs union of the single market, of the single market, they are adamant to say they are adamant to say we will not do that we will not do that but what they can talk but what they can talk about is food and animal about is food and animal products being traded more products being traded more freely, cooperation on energy, so what can we expect from these talks? from these talks?
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these talks are specifically around defence, as you said. the real movement on things like trade will happen probably at the summit which is planned for later in the spring. and there are a whole raft of issues to be discussed, as you said, but with regards to food and drink, trading between eu and the uk. and also the opportunity, possibly, the uk to sign a convention, a pan— european mediterranean convention which links the eu nations, eastern mediterranean and north africa, and that again will help overcome some friction of that trade between the trading blocs, because the reality is too many uk businesses have withdrawn from trade with the eu and there is a growing fear that a lot of eu—based businesses will themselves withdraw from trading with the uk.
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such as social scoring, as well as a requirement that any company using ai in the eu must train its workers to use the technology safely. companies found not adhering to the new legislation at boston consulting group says it's time for companies to face reality — those rules are now here. is over, you need to place a professional risk management system on al systems, otherwise we will find you very steeply,
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regulations across the globe. and, are we right in saying that the eu, when it comes to regulation of technology, ai etc, is ahead of the pack? are already fast followers and one of them is certainly the us, not on a federal level, of course, but texas, california and many other states, more than 70 other states, actually have implemented, or i should rather in asia and anywhere else, so i would say that the one the front runner, that
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is certainly reached. make them more competitive in the ai race? thames water will seek approval for an emergency cash lifeline in court today as it faces running out of money in four weeks�* time. biggest water and waste company. today and we will update you here on bbc news. opec is meeting later today. trump has asked saudi arabia to lift production and bring prices kept steady by production curbs last year.
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also in focus are the tariffs on us energy imports of the oil us refiners process into fuels such as gasoline and heating oil. the author of the elon musk biography has said that the ceo of tesla will go too far when it comes to the conflicts walter isaacson says that while elon musk a year. business correspondent, isaacson discusses what the trump administration means for elon musk�*s business
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it cuts both ways, i,mean,. ,, a , , two years ago. in my book, i show exactly how he has an algorithm so he can manufacture a million electric vehicles when general motors so, you pull him away from that, on the other hand, by being in the administration, whether the national highways safety board or the other regulatory agencies, he gets to barrel forward. stock, which is what it is, it is stock that will involve ai, robotics and self—driving cars. but can the richest man in the world avoid such big to heading up doj and being in charge of cutting government no, i don't think that,
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if you had to list the trades he is going to push limits, he is going to break limits, and it is going to cause some problems, but it is we had been a nation of risk—takers and we became nations with more referees than risk takers, more builders than risk—takers and maybe it will be interesting, i think he will go too far, he thinks he will go too far because he always says, if you haven't gone too far tried hard enough. so it's going to reverse this notion of we have a whole lot occurring down the line, and what kind of issues do you think they may clash over or personality traits that may lead to that?
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is i and 3m business is i and teachers ess is i and teachers in; is i and teachers in england are being asked by ofsted for their views on new star their views an new star the follow the reports. the changes follow the scrapping of one or two word in judgments in september the suicide of a following the suicide of a primary head ruth following the suicide of a primai hered ruth following the suicide of a primai here is ruth following the suicide of a primai here is our ruth following the suicide of a primai here is our education perry. here is our education editor. is perry. here is our education editor. , ., ., , editor. it is got to be the subject. _ editor. it is got to be the subject, how _ editor. it is got to be the subject, how will - editor. it is got to be the subject, how will you - editor. it is got to be the | subject, how will you talk, editor. it is got to be the - subject, how will you talk, how subject, how willryeurtalk, hew you achieve. subject, how willyautalig—haw - m— subject, how willyaurta , - you achieve. well you achieve. once the head ess he visits _ oliver runs a school martin oliver runs a school inspections in and is inspections in england and is bringing in a new ofsted school report and said it will be easierfor parents to report and said it will be easier for parents to choose between schools.— easier for parents to choose between schools.g{ee "117 arent between schools.g{ee “her- arent of a between schoolsggg mink? he - parent of a chiidf between schoolsggg; mink? he - parent of a child wf between schoolsggg; mink? he - parent of a child who has six needs or spatial, edusatiena! needs er might speeie! edueetiene! needs er might be snesiei eddsetidnei needs er might be that thinks, you might be that thinks, actually, my child really needs factually, my child really needs pastoral care, a of factually, my child really needs pasto| in care, a of factually, my child really needs pasto| in the , a of factually, my child really needs pasto| in the school of factually, my child really needs pasto| in the school really z: to me, 77 to me, will my child;
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in, 535??? efi 5? $115? efi'l�*d ' in, what fideefifs e§ 5? $115? efi'l�*d ' in, what is that and we can break e'e “3: in“? 's7et*§e “hes gfid we can break all those because we can break all those component parts down and presented simply to parents, 7 "will " if 7 "nigger; 77 77 7777 7 "will 3751557 77 7 they will be able to distinguish better between distingdish better betfieen' "fl w " dietingdieh t-etter t-etfieen' "fl w " schools. tee??? look, with five schools-i - look, with five grades could look, with five grades for different aspects of the school. secure means of meeting all the standards, so 777 7 77 so good 7 77 7 so good meeting 7 77 7 so good meeting other should learn it. schools should learn from it, how inclusive be how inclusive will be highlighted. report will 150k 7 7 look at7what pupils and behaviour. the learn, and behaviour. the education secretary is facing about 7 77 about school 77 questions about school standards. she is expected to stsnderds. she is eeeected te out stsndsds she -'s exeected ee out more stsndsds she '-s exeected ee out more detail stendeds she is exeected ee out more detail on set out more detail on government plans on 77 and 7 5nh7isi7qu7777 7 7 77 and failing sc7hools, struggling and failing schools, and what support they will get. these reports will give parents bit more - about a bit more subtlety about a - where _ a bit more subtlety about a where the strengths and a bit more subtlety about a whe lie, e strengths and a bit more subtlety about a whe lie, helping |ths and a bit more subtlety about a whe lie, helping them 1d decisions. for head make decisions. for head teachers, the real test will be when — teachers, the real test will be when inspections start.
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when the inspections start. this— when the inspections start. this is_ when the inspections start. this is a _ when the inspections start. this is a good game, isn't it? this is a good game, isn't it? this head teacher isn't convinced has changed culture.77th7e primary 77 cultu7.777r7eti717e7 primary school itecdltcire. the primer; scheel graded in every itecdltcire. the primers scheel graded in every area was graded good in every area this year but he says was a experience. exerience. lardieing esperiencef * ~ 7 of emotions, roller—coaster of emotions, going from anger and geing frenn. sn’ger's'n'd' to being in floods frustration to being in floods of tears in my own office, the impact emotionally huge, impact emotionally was huge, physically it was i was physically it was huge, i was absolutely exhausted.- absolutely exhausted. head teachers unions _ absolutely exhausted. head teachers unions . the - absolutely exhausted. head - teachers unions . the changes teachers unions say the changes could make things worse, giving information stress. ration without reducing stress. we still have — without reducing stress. we still have single still hese einale shines-t _ fi still hese single shreee going from _ going from causing judgments going from causing concern — judgments going from causing concern to we think concern to exemplary, we think that is— concern to exemplary, we think that is a — concern to exemplary, we think that is a worry, and also the that is a worry/eindalsoihe that is a worry. and also the to look widely at 7e-—e =— 72-— e 7 a school but still in the same period. — a school but still in the same period. so— a school but still in the same period, so we are concerned about — period, so we are concerned about how reliable those e judgments will be as well. [it is judgments will be as well. isjust judgments will be as well. lit isjust over two years judgments will be as well. lit is just over two years since ruth perry took her life after an inspection. herfamily said
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plans would not make the these plans would not make the system a new project to uk 7 uk was 7 uk was most save the uk was that most . . resident bird is threatenedrresidene bird is way in cornwall, it under way in cornwall, it is one of last areas in the ene ee ehe eeee etcee in ehe that sees the cedntrythsl still sees ehe to it cedntrythst still sees the to it which has suffered willow to it which has suffered a dramatic decline in its willow to it which has suffered a dramati partly|e in its willow to it which has suffered a dramati partly|e in to habitat numbers, partly due to habitat lost. cut england can tell us so, this is prime hesse ea ehie ie em; ' " ’ ' ”t rainforest. perfect temperate rainforest. perfect for willow tits. this man is on a mission, what is happening here on cost more could help save a bird that is on the bird —— verge of in the —— vergeof extinction in the this —— vergeot extinction in the this is it. , the willow uk and this is it. , the willow tit. this is one of the few places in the whole of southern england with any left.
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collected through our the government says it's committed to protecting the decline in species. well, for many of us it was a fine second half of the weekend with plenty of blue sky sunshine on offer as we head through the first full week of february, too, but it is quite a mixed week of weather ahead. up towards the north and the west for many. approaching the far north west of scotland, blustery here, and it is also a mild start to monday morning.
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through the night. possibly some rather large waves overtopping at times. the winds are lighter further south and east. of sunshine developing for wales, up through northern rather grey, but with lighter winds, admittedly, across fronts just gradually sink south and eastwards. ireland, 12 celsius. some of our temperatures will even be in double figures. our cold front continues to push further southwards as we head through tuesday, but we are starting off
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this is bbc news. president said he might impose tariffs on uk said 7775537 7will777 77 7775537 7will7 genial; and said taxes will definitely ... ~ ~~ —— applied to be applied to the european union. , ., ., union. the uk is out of line but i union. the uk is out of line but i think— union. the uk is out of line but | think that _ union. the uk is out of line but i think that one - union. the uk is out of line but i think that one can - union. the uk is out of line but i think that one can be l but i think that one can be worked out. but the european union, it is an atrocity, what they have done. sir union, it is an atrocity, what they have done.— they have done. sir keir starmer _ they have done. sir keir starmer is _ they have done. sir keir starmer is meeting - they have done. sir keir- starmer is meeting european starmer is meeting edreneen . . leaders in brussels ejnien leaders in brassels , —~ ~ , .. .. to strengthen the ejnien leaders in brassels . —~ ~ . ~ ~ to strengthen the uk hoping to strengthen the uk partnership with the eu. the former president of the spanish goes 77777 goes on today accused of sexual trial today accused of sexual and... to assault. and... to beyonce. beyonce finally of year 7 s —e e: — year at 7 year at the 7 year at the grammys. 7 hello.
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