tv World Business Report BBC News October 4, 2017 5:30am-5:46am BST
hello again. this is bbc world news. these are the headlines. catalonia could declare independence from spain within days. the leader of the region gave the bbc his first interview since sunday's disputed referendum and he warns that government intervention could be a definitive mistake. body camera footage showed a moment ‘s police arrived at the scene of sunday's deadly mass shooting in las vegas. detectives say the suspect had deliberately planned the attack from his hotel room. health charities have called it a global badge of shame. collarette kills up to 143,000 people each year and officials around the world are meeting in france to commit to preventing 90% of deaths by 2030. president trump has visited puerto rico following criticism of his response time. he said he will ask congress to release $29 billion in aid. time now for sally and world
business report. the tax crackdown steps up a gear. in the sights of the european commission, oxenberg and amazon. and the head of wells fargo gets a grilling by us lawmakers over its corporate culture and millions of fake bank accounts. hello. a warm welcome, this is world business report. it is a packed programme and we will be telling why all things are peachy in beijing. let's start with the european commission. it is expected to announce later today the result of its long probe into member states
tax deals with multinational companies. this time, luxembourg is in the spotlight. it has been accused of offering illegal tax brea ks to accused of offering illegal tax breaks to amazon, the retail giant. the decision is not against amazon itself but the country which can be forced to present amazon with a bill forced to present amazon with a bill for alleged back taxes. the case echoes a similar ruling against ireland which forced it to claim 13 billion euros from apple, a decision that has been appealed both by ireland and by apple. i am joined by a senior market analyst. we feel that we have been here before and it seems that the competition commission is a determined woman on a mission. absolutely. this does
look like the situation with apple but this time involving a different country. it looks like the way things are playing out here is that the eu wishes to build up a case of different companies so that in the long—term either these companies and up long—term either these companies and up paying the tax and the country countries involved fall in line with the rates of tax that most people feel they should be paying. the rates of tax that most people feelthey should be paying. so the rates of tax that most people feel they should be paying. so what have luxembourg and amazon been doing? in this instance. amazon have all sorts of eu operations across different countries. what happens is that those countries make sales are many make profit out of those proffereds, a large proportion of them are paid to a private company, our partnership set up in luxembourg which has come to an agreement with the government to pay a small amount
of tax. so why they are paying this money? they are paying royalties for the use of amazon's intellectual property. they have done sales that they owed this company for using the name and services of amazon. we know ireland are contesting. presumably luxembourg will do the same thing?” luxembourg will do the same thing?|j think luxembourg will do the same thing?” think this will be a multi—year affairand in the think this will be a multi—year affair and in the meantime there are going to be other companies coming into the firing line. do you remember a leak from years ago the name 300 companies that had tax avoidance strategies. there will be more companies coming up and, in the meantime, amazon will be fighting as will luxembourg. the result probably is that there will be no admission of guilt, what the commission are trying to achieve here is a fair
rate of tax for these companies and probably the countries will have to adjust their tax rate and avoid these sweetheart deals. this one was called a goldcrest project, it was a lot of intrigue and there will probably be less intrigue in the future. as soon as we get any announcement from the european commission today we will keep you right across the here on the bbc. moving on now to the latest bank in the firing line, the boss of wells fargo who was given a grilling over the steps taken to change the bank's corporate culture which led to the creation of three and a half million fa ke accou nts creation of three and a half million fake accounts eight years ago. the hearing comes just fake accounts eight years ago. the hearing comesjust one fake accounts eight years ago. the hearing comes just one year since the former ceo appeared for the very same committee. if he was expecting a warm reception, mr sloan was disappointed. timothy sloan has spent three
decades at wells fargo but only 11 months as ceo. lawmakers like senator elizabeth warren had a blistering assessment of his tenure at the bank. you say you have been making changes at wells fargo ‘s fourth 30 years but you enabled this fa ke accou nts fourth 30 years but you enabled this fake accounts scam, you got rich from it and then he tried to cover it up. at best you were incompetent, at worst you were complicit and either way you should be fired. mr sloan was the chief financial officer at wells fargo at the height officer at wells fargo at the height of the accounts scandal in which millions of fake accounts were opened without customer's commission. as cfo he would speak to investors on a regular basis. on those calls you aggressively promoted wells fargo's ability to open new accounts, didn't you? no, i did not. you didn't? well, here are
the transcript from all of the investor earnings calls that you participated in and on these calls, no—one, not even the ceo at the time brand more about wells fargo's ability and commitment to open new accou nts ability and commitment to open new accounts for existing customers. ability and commitment to open new accounts for existing customersm the face of such harsh criticism, mr sloan defended his reputation.” have made mistakes, i have not been perfect. i think that having that knowledge of the company, having the ability to make change, the actions i have taken since i became ceo of 11 months ago have made fundamental change at this company. i am not afraid to make hard decisions when they are needed and i have the support of 270,000 people. that is why i think i the right person. wells fargo paid regulators are hundreds of thousands of dollars for their misdeeds misdeeds. they also
promised change but some lawmakers believe that will not come until there is new blood. other business stories. yahoo has said all of its 3 billion user accou nts said all of its 3 billion user accounts were affected in a hacker attack back in 2013. the company, taken over attack back in 2013. the company, ta ken over by attack back in 2013. the company, taken over by the rise in earlier this year, said an investigation showed that the breach went further than previously suspected. it did not include passwords bank account hit—out. the new boss at ford has outlined... outlined many things. he says they will make a real difference to the us car giant. the firm says it will shift resources from traditional cars to suv ‘s and trucks while investing in electric power and tech services. the firm will also automated manufacturing processes more to help cut costs.
that normally means jobs are going. in the suburbs of beijing, farmers have been growing peaches for nearly 60 years. thejob is have been growing peaches for nearly 60 years. the job is extremely labour—intensive as everything is still done by hand. a group of university students have designed a machine that uses artificial intelligence to make things much easier. translation: we start a growing peaches in 1958. —— started. my father and grandfather were both peach farmers. during peak season, our workers have no time for lunch. we need many people to pick and sort them. by the afternoon we have to get
hundreds of baskets ready. translation: peaches come in different sizes and colours. some have scars or worm holes. they come through this way. the camera sends information to the terminal. in the terminal sends a set of statistics to the single chip microcomputer here. that computer than controls these five cylinders, and pushes the peaches into the right baskets using mathematical calculations. we were very nervous when we first brought this machine here. it needed to work in an actual farm, notjust in an laboratory. the machine has great potential.
if we work on it it may become a movable robot. i don't think it is far away that we will have this working. i think artificial intelligence can replace manual labour. if there is a bug with the machine, we need to solve them with humans. the news review is maxed. i will see you then. —— is next to. the government is to ban the sale of acid to anyone under the age of 18. the announcement follows a large
increase in assaults using corrosive substances. we have been speaking to the victim of an attack on this report has distressing images. the agony of the aftermath of an acid attack in east london injuly. thieves have thrown a corrosive substance in the face of this motorbike delivery driver. police were trying to reduce the pain and save his face. fortunately, he survived without serious injury. but this afternoon he told me the attack had left him mentally scarred. after the incident i am really scared. i know the pain, what happened to me. i don't want anybody else in the future to cry on the street like me. others like this woman and her cousin have suffered life—altering facial burns. and today, the home secretary promised she would change the law. acid attacks are absolutely revolting. you have all seen the pictures of victims that never fully recover.
endless surgeries, lives ruined. so, today, i am also announcing the prevention of sales of acid to people under the age of 18. as well as a complete ban to under—18s, it will be illegal for anyone to carry them without good reason. and people would need a licence to buy buy one of the most dangerous liquids, sulphuric acid. victims are scared that young people will still get them. the rising numbers in the uk, especially in london, has made it one of the worst countries in the world for acid attacks. some rules on selling corrosive substances were relaxed just two years ago. daniel sandford, bbc news. you're watching bbc news. the
headlines: catalonia could declare independence from spain within days. the region's leader gives the bbc his first interview since the disputed referendum on sunday and has warned the government that intervention could be a definitive mistake. body camera footage shows the moment police arrive at the scene of sunday's deadly mass shooting in las vegas as they try to locate the killer. detectives say the suspect had planned the attack from his hotel room. health charities have called it a global badge of shame, cholera kills up to 143,000 people every year. officials from around the world are meeting in france to commit to preventing 90% of those deaths by 2030. it isa
it is a time to have a review of the news. what is making headlines around the world ? news. what is making headlines around the world? we thought we would start with the spanish daily leading on the catalonian push for independence, of course, on the digital front independence, of course, on the digitalfront page, with independence, of course, on the digital front page, with a independence, of course, on the digitalfront page, with a clip of the king's attack and accusation on separatists and on the catalan authorities. meanwhile, outside spain, in the times, on its world page, following the devastation in barcelona yesterday, where thousands of people including these firefighters protested against police violence during the vote. and a political football of course, gulf news looking at the