tv World Business Report BBC News March 31, 2021 5:30am-6:01am BST
this is bbc news with the latest headlines for viewers in the uk and around the world: fast delivery company deliveroo makes its debut on the london stock exchange today, but does a near 8 billion pound valuation really make sense for a company that has never made a profit? three months after the uk left the european union, we find out how businesses are adjusting. and, two weeks left before outdoor attractions in the uk can open again, but how much damage has the pandemic caused the industry.
we start with deliveroo, a company that has been well placed through the pandemic with many relying on its services for a fast takeaway delivery. today it lists on the london stock exchange in what could be the uk's biggest floatation for a decade. deliveroo is expected to be valued at around £7.8 pounds — in dollars that would be at 10.7 billion. are giving this initial public offering a miss. there are concerns about the companies treatment of it couriers with hundreds of riders expected to refuse to make deliveries when shares start trading later today. rebecca crook is chief growth officer at somo. you again. what do you make of
deliveroo as a possible investment? should people piling today and overlook issues such as the couriers and what they say about their rights? i what they say about their ri . hts? ~ , what they say about their ri hts? ~' , u, ., , rights? i think being cautious is the right — rights? i think being cautious is the right word _ rights? i think being cautious is the right word and - rights? i think being cautious is the right word and it - rights? i think being cautious is the right word and it is - rights? i think being cautious is the right word and it is an l is the right word and it is an insane amount of money but it is unusualfor insane amount of money but it is unusual for these type of companies not to make money and investors are willing to play the long game and they throw the long game and they throw the money in to get market share but the real concern about the gig economy and how they are workers. i was going to sa , they are workers. i was going to say. it _ they are workers. i was going to say. it is — to say, it is common for tech companies not to make profits for a very long time, like facebook, for example, when it listed but the worry is if deliveroo has a delivery like uber eats in the uk and has to recognise its couriers as employees, basic pay, holiday pay, minimum wage, how costly will deliveroo, going forward
with yellow it will cost the millions and millions and in terms of the ipo, it already allocated money off the back of that and they had to manoeuvre recently and i think they were predicting that will come. h0??? predicting that will come. how cuickl predicting that will come. how quickly that — predicting that will come. how quickly that will _ predicting that will come. how quickly that will come, - predicting that will come. hm“ quickly that will come, who knows? they have 35,000 careers globally and is movement is not just in the uk, it's all around the world so workers' rights are really important. it is something they will have to tackle quickly, i imagine. also tackle quickly, i imagine. also there is concern _ tackle quickly, i imagine. also there is concern about - tackle quickly, i imagine. also there is concern about how the company is structured, the share structure because that will give the founder more control over the company, relative to his shareholding, will shoo, relative to his shareholding, willshoo, ratherthan relative to his shareholding, will shoo, rather than other investors, is this a red flag? it is an unusual structure, i guess from his perspective, he has got the business up from nothing, a dominant player in the marketplace and wants to can retain the controllers much the camper it is a red flag but
i do feel that in terms of risk, it really thrived through covid, 130% risk, it really thrived through covid, i30% increase year on yearin covid, i30% increase year on year in terms of what it received but will that happen once restrictions lived and people start going back eating out? they will need to look to diversify the business as well and revenue streams so i think this�*ll be a tricky road ahead for them. this'll be a tricky road ahead for them-— this'll be a tricky road ahead forthem. ~ , . ~ . for them. we shall keep a close eye on that. rebecca, - eye on that. rebecca, thank you and nice to see you. we will keep you up—to—date on how the dingoes on the lse later. members of the uk's food and farming industries are calling for changes to the way checks are carried out on exports to the eu as they reveal they're being hit by higher costs since the new trading relationship began three months ago. the government says that overall, businesses are adjusting well to the new rules and continue to trade effectively. our global trade correspondent,
dharshini david, has more. 0ver over 90 days now since britain began a new year with new trading arrangements with the eu, with traffic from dover only 7% below the pandemic, and only 7% below the pandemic, and only a small proportion of hauliers still struggling with paperwork, in calais, they say everything is running smoothly. it is working good, sometimes it slows down in france with the customs but it is according to what we were expecting. but what does _ to what we were expecting. but what does it — to what we were expecting. but what does it take to get things into the lorries? is the biggest cooperative of dairy farmers, importing exporting blue it is about 30,000 extra documents alone and vets needing to sign some of the documents.— needing to sign some of the documents. ., documents. some of them need to be ready for— documents. some of them need to be ready for border _ be ready for border inspections as well and if you put all of that— as well and if you put all of that together, that place is
quite — that together, that place is quite -- _ that together, that place is quite —— it places a significant burden on the business.— significant burden on the business. , , business. fresh food exports from the _ business. fresh food exports from the uk _ business. fresh food exports from the uk to _ business. fresh food exports from the uk to the _ business. fresh food exports from the uk to the eu - business. fresh food exports| from the uk to the eu almost halved in january as from the uk to the eu almost halved injanuary as company halved in january as company struggled with the formalities of lockdown. may processes say while some issues are sorted, south could be 20% lower permanently. many of those involved in food and farming are calling for more procedures to be put online and checks to be streamlined. they fear the process is all a bit one—sided because control on imports coming into the uk have been delayed. they fear that is not focusing lines in brussels. it is only that point they are confronted with the same bureaucratic complicated system that everyone is going to say actually, we need to work together to find a better way of doing this because this is just adding a cost in which ultimately the consumers will pat’- ultimately the consumers will -a . .,, ultimately the consumers will pay. those producing the meat are clamouring _ pay. those producing the meat are clamouring for _
pay. those producing the meat are clamouring for more - pay. those producing the meat are clamouring for more clarity and help as well.— and help as well. there is cost to the farmers _ and help as well. there is cost to the farmers and _ and help as well. there is cost to the farmers and friction - and help as well. there is cost to the farmers and friction and delays — to the farmers and friction and delays and there are significant issues to be overcome. significant issues to be overcome-— significant issues to be overcome. ., , , , overcome. how responsible is the uk government _ overcome. how responsible is the uk government to - overcome. how responsible is the uk government to what i overcome. how responsible is i the uk government to what you are saying? i have requested a meeting with david frost but unable to meet him face—to—face which is an urgent request on our behalf. 0ver which is an urgent request on our behalf. over 40% of uk trade goes to the eu, a relationship that cannot be ignored by the government said it is engaging with industry to counter any challenges and provide more resources. it is working also to deliver trade deals elsewhere but they may take a while longer. more now on the impact the pandemic has had on gender equality. the world economic forum warns it will take a generation longer to reach gender parity due to the impact covid—i9 has had on households. according to their global gender gap report, the time required to close the gap
on current trends will rise from from 99.5 years to 135.6 years. but not all nations are equal — iceland remains the world's most gender—equal country. joining me now is saadia zahidi, managing director of world economic forum. good morning and nice to see you again. this is a report that you have been looking into, gender equality for years and years and years, talking through at the difference the last 12 months have made. we can see there _ last 12 months have made. - can see there has been a massive impact in part because of the pandemic and in part because the regression of political participation across many large countries. lastly, 100 years, now 136 years and what this means is that the rate of progress really slow down over the course of the last year. it's not surprising.
we have seen a roll back in the home where care responsibilities have fallen on women particularly as schools were closed in many parts of the world, nearly1 billion schoolchildren were out of schoolchildren were out of school at some point and therefore care responsibility really became something that working parents had to take on differently. and of course there is what is happening structurally across the economy, the sectors that got impacted the most happen to be the sectors that employ fairly large numbers of women, the travel and tourism around the world, big employer of women. retail and consumer sector, big employer of women. that is where you are authorising the heat come through over the last year. heat come through over the last ear. . ~' heat come through over the last ear, ., " ., heat come through over the last ear. . ~ ., ., , year. talk about what can be done about _ year. talk about what can be done about this _ year. talk about what can be done about this because - year. talk about what can be l done about this because when you look at different parts of the world, western europe is the world, western europe is the best performing region, so there it will take just over 52 years to close the gap, which sounds a little bit more encouraging. what needs to be done, and where, in order to
accelerate the closure of the gap? accelerate the closure of the . a . ? accelerate the closure of the .a . ? , , . , ., . , accelerate the closure of the .a". ,, gap? on the public policy side, there are two _ gap? on the public policy side, there are two critical _ gap? on the public policy side, there are two critical factors i there are two critical factors and one of them is what makes you rip stronger than other areas? which is the care and infrastructure available. so parts of the world where there is a strong care infrastructure, strong care economy, are doing better than others. governments need to invest in that, particularly as they look towards recovery because it is also a big jump creating sector. the second area is taking more strategic approach is to preparing workers for the future of work and then applying the gender script to that. many countries are now thinking about the redeployment that needs to happen for workers that are either at risk or have been completely displaced from their role, they are thinking about skilling accounts, providing help and training, providing help and training, providing help and training, providing help and re—employment. that will not work if we do not apply a gender lens duets and
women tend to be casted in certain segments of the economy and men in other segments the economy and we know that the highrollers of the future will be the one that has similar pipelines of women particularly when it comes to science and technology, engineering and maths related skills. governments will have to apply a different lens and then there is the responsibility of the private sector, of the employers, they have to think differently. if they want the kind of productivity and innovation that will get them out of the crisis, they have to put this on diversity and that includes gender diversity. a lot of work to do so do dig _ diversity. a lot of work to do so do dig deeper _ diversity. a lot of work to do so do dig deeper if _ diversity. a lot of work to do so do dig deeper if you - diversity. a lot of work to do so do dig deeper if you wish| diversity. a lot of work to do l so do dig deeper if you wish to buy looking at the report. later today, the us president will begin laying out his proposals for fixing the aging, underfunded infrastructure in the world's biggest economy. joe biden will outline the first part of some 3 to 4 trillion dollars in spending
over the next 10 years devoted to fixing the country's crumbling roads, transport, sewage systems and other essential links. let's talk this through with chris beauchamp, chief market analyst at ig. nice to see you, chris. this has been promised for a very, very long time and today we will get details, what is on the radar of the president, do you think?— you think? the main focus is auoin to you think? the main focus is going to be _ you think? the main focus is going to be this _ you think? the main focus is going to be this push - you think? the main focus is going to be this push to - you think? the main focus is| going to be this push to repay us infrastructure, and you may remember president trump suggesting a big infrastructure bill in 2016-17 suggesting a big infrastructure bill in 2016—17 and you are right, he never passed and it has been underfunded for a very long time and it is past time since the us address these things. i think the administration view is now the best time because economy needs the stimulus spending to get it back on its feet, a new deal similar to the one from the 19305,
similar to the one from the 1930s, to really provide a boost to get them out of the covid—induced recession slump, so we're looking at transport, on water, mining reclamation and joe biden getting senators on board and a whole range of issues to get the 9 billion programme backup. is a issues to get the 9 billion programme backup. is a huge visit economy, _ programme backup. is a huge visit economy, creating - programme backup. is a huge visit economy, creating jobs, | visit economy, creating jobs, but the problem is how will it get paid for and republicans are saying we must not raise taxes. how will they overcome that argument on capitol hill? they are going to try for not raising personal taxes, merely corporation taxes and that was the first move. the other meat is a ken tried towards a reconciliation bill where you only need a 50—50 majority in the senate and they only have a
wafer thin majority and if they can find that way, then in a slightly less obvious way to get it through in order to make this stimulus path and there is a sense it has to go through regardless of a republican opposition. tax cuts by the previous administration is a better way, the republicans will say and you cannotjust throw money at it. will say and you cannot 'ust throw money at itﬁ will say and you cannot 'ust throw money at it. let's get some of the day's other news: chinese phone maker xiaomi is wading into electric vehicles with a $10 billion investment over ten years. the tech giant's says its goal is to offer quality smart electric vehicles. xiaomi is the world's third largest maker of smartphones behind apple and samsung. us federal communications commissioner brendan carr has called for new steps to ensure huawei and zte equipment is barred from american telecoms networks and ensure that devices produced using forced labour don't enter the country. last year, the regulator
adopted rules forcing us telecoms companies to remove equipment produced by huawei or zte if it was purchased using an $8.3 billion government fund. sportswear brand lulu—lemon has warned of more store closures and risks to demand from a potential resurgence in covid—19. that's even as its first—quarter revenue forecast beat wall street estimates as the pandemic helped trigger a jump in sales to consumers who have been stuck at home. a global shortage of computer chips has already been rattling production lines across the auto industry for several months. now blackberry is the latest to say supply issues have hit demand for its car software, used by companies including volkswagen and ford. sharanjit leyl is following the story from our asia business hub in singapore.
it appears as if the chips are down for many firms who are facing this semiconductor chip crunch. we have been reporting on the impact. 0ne company said it. production. 0ne on the impact. 0ne company said it. production. one of the biggest chinese account companies indicated the extent of the shortage has also shuts production for five days. i of the shortage has also shuts production forfive days. i — — theyjoin many carmakers who have been caught off guard. the problem has become so chronic it has impacted into the industries outside auto makers. blackberry, for example. weld
pool boss make china boss said washing machine makers have also been hit. samsun has warned about a serious imbalance just weeks ago with problems for its smart phones. it has also had economic impact because japan has released factory output for the month of january which fell and one of the chief reasons was this cheap shortage. it goes to show just how fragile the global supply chain is. it can be blamed on the huge demand for technology as the pandemic drove millions to work from their homes. stay with us on bbc news, still to come: weeks left before outdoor attractions in the uk can open again, but how much damage has the pandemic
caused the industry? the inspectorate of constabulary has found that the metropolitan police was justified in the tactics it used at the vigil on clapham common in memory of sarah everard. it was concluded that the risks of spreading covid 19 at the gathering had been too great to ignore. the met was widely condemned for handcuffing and arresting women — events which were captured in social media videos. the mother of a west london university student, who has been missing for more than a week, has urged him to come home and called for more help to find him. richard 0korogheye has not been seen by his family since 22 march when he left their home in the ladbroke grove area. the 19—year—old, who has sickle cell disease, did not take his medication or any money. a scheme to fit electronic tags on offenders to see if they are breaching
court—ordered drinking bans is being rolled out across england. this is bbc world news, the latest headlines: the german chancellor has defended her decision to stop giving the astrazeneca vaccine to the under—60s — despite the who declaring the jab is safe. president bolsonaro struggles to contain a crisis over his leadership as brazil registers another record number of coronavirus deaths for chris quickfall, running a start—up was so stressful and confusing that it made most of his hair fall out. he knew he had to come up with some better way of managing his business, or collapse completely.
chris is the founder of cognassist, which helps diagnose conditions like dyslexia in students and apprentices. with his new system of self—management, chris has built a company which serves over 100 learning establishments across the uk. when we didn't have systems for organising, i lost all of my hair and all organising, i lost all of my hairand all of my organising, i lost all of my hair and all of my money. as we started hiring people, we found it difficult to manage this sense of change. the way that i responded was putting in more and more time, long hours. as a consequence, i lost a lot
of weight and buy has started falling out. i lost about 70% of my hair. iam not i am not allowed to hold anything in my head, it has to be on the dashboard. 0ne anything in my head, it has to be on the dashboard. one of my monthly goals, weekly goals, what actions i am responsible for. it frees my mental capacity and i am not as stressed as are used to be. — — i used to be. stressed as are used to be. - - i used to toe-— stressed as are used to be. - - i used to be. things worked out in the end _ i used to be. things worked out in the end which _ i used to be. things worked out in the end which is _ i used to be. things worked out in the end which is a _ i used to be. things worked out in the end which is a great - in the end which is a great relief. there'sjust under 2 weeks to go until outdoor visitor attractions in england reopen but many have been hard hit over the last year by successive lockdowns and restrictions. zsl, which operates london and whipsnade zoo, said it lost about £20 million in 2020
and another £6 million so far this year. new figures out today from association of leading visitor attractions (alva) show the total number of visits fell 70% last year compared to the year before. alva is calling on the government to declare a bonus bank holiday this year to help their sites recover. joining me now is bernard donoghue, director of alva — association of leading visitor attractions tell us how your members have been coping with the last 12 months adapting to this? 2020 was a devastating _ months adapting to this? 2020 was a devastating year - months adapting to this? 2020 was a devastating year for - months adapting to this? 222: was a devastating year for the economy and tourism is the fifth biggest industry in the uk and third largest employer. many could not open for much of the year and that really hit their bottom line because the
vast majority would only get money from tourists who spent in their shops and buy their tickets. huge fall is not surprising but gives an of how severely impacted uk tourism was. ~ ., ., , was. we look at gardens, theme arks, was. we look at gardens, theme parks. zoos- _ was. we look at gardens, theme parks. zoos- at— was. we look at gardens, theme parks, zoos. at a _ was. we look at gardens, theme parks, zoos. at a theme - was. we look at gardens, theme parks, zoos. at a theme park, i parks, zoos. at a theme park, where you are queueing next to one another, sitting next to people on rides, making those covered 19 secure is a difficult matter because make it absolutely is but they all did it magnificently.- it absolutely is but they all did it magnificently. there was not a single — did it magnificently. there was not a single case _ did it magnificently. there was not a single case of— did it magnificently. there was not a single case of covid - did it magnificently. there was not a single case of covid an i not a single case of covid an any of those places last year. they put safety first and what they want to do is welcome people back as quickly as possible of this year to make sure they repair their losses.
coming safely, under capacity, people have had the most fantastic time. do capacity, people have had the most fantastic time.— most fantastic time. do you think you — most fantastic time. do you think you might _ most fantastic time. do you think you might see - most fantastic time. do you think you might see a - most fantastic time. do you think you might see a surge most fantastic time. do you i think you might see a surge in visitors once the restrictions are lifted because we do not have the choice to go overseas, especially during the summer months where stay—at—home vocations are what we will be doing? 1 vocations are what we will be doinu ? ~ ., , doing? i think that is right and a silver _ doing? i think that is right and a silver lining - doing? i think that is right and a silver lining is - doing? i think that is right and a silver lining is that l and a silver lining is that because we do not have overseas visitors this year and they are extraordinarily important to the recovery, actually, it has never been a better time to enjoy culture without the cues and to get up close and personal to animals in the way you have never had before. i guarantee there will be a phenomenal experience, in a way they have not enjoyed before with museums and galleries and theme parks. we
with museums and galleries and theme parks-— theme parks. we have to leave it that but _ theme parks. we have to leave it that but good _ theme parks. we have to leave it that but good luck _ theme parks. we have to leave it that but good luck to - theme parks. we have to leave it that but good luck to you. i it that but good luck to you. that is all from me. i will see you soon. hello. the uk saw some exceptional warmth on tuesday, and if your day ended looking something like this with a sunset with a pinkish tinge, you were not mistaken. that is saharan dust affecting the way our skies look and that is because we've pulled air all the way up from the sahara to import the warmth. it's travelled across western europe, and on tuesday it made its way right the way into the north of scotland, that warm air. the warmest spot was at 24.5 celsius and that was at kew gardens in west london. there is the possibility on wednesday we could see a similar high, somewhere probably across central or eastern england but a little bit more cloud as possible, too. there could be the odd light shower and that could just peg the temperatures back by a degree or so, but still very warm for england and wales. further to the north though, a front beginning to push south
across scotland and northern ireland, weakening as it does so, it won't bring too much in the way of rain. it's drier for western scotland but cooler air moves in to the north and then that weakening weather front and the cooler air continue to try and make their journey south as we look to thursday. basically, the front nothing more than cloud by thursday, but the colder air already starting to make itself felt out to the north and east of the uk. the high pressure will keep things pretty quiet as we head into the easter weekend. largely light winds, a lot of fine weather, but the big difference will be where you have the sunshine it won't feel anywhere near as warm as it has done on tuesday, particularly if you, for example, compare aberdeen from tuesday, where temperatures got up to 18 celsius. we'll be lucky to get eight on thursday. still, 18 or 19 possible though across south wales and the south—west of england. by friday, that colder air though has worked its way further westwards. we could see some quite stubborn cloud across eastern counties of england as well and quite a chilly northerly or north—easterly breeze. i say "chilly". the temperatures, well,
about where we'd expect them for the time of year. look out for a frost, particularly to the north, on friday night. easter weekend, it stays chilly but look at this for easter monday. it is a plunge of arctic air, raw—feeling air, strong northerly winds, and this is the weather chart at the moment for easter monday. it may change a little but that signal is pretty clear there. there is a risk of snow showers, even a good way south, across the uk at the end of the easter weekend.
good morning, welcome to breakfast with dan walker and nina warhurst. 0ur headlines today, don't blow it now. health secretary matt hancock's message as crowds of people enjoy the hottest march temperatures for more than 50 years. it's the final day of shielding for millions of clinically vulnerable people in england and wales who've stayed at home during the pandemic. germany suspends the astrazeneca covid vaccine for the under 60s, after fresh safety concerns. good morning. visitor numbers to attractions across the uk plummeted