tv World Business Report BBC News June 30, 2021 5:30am-6:01am BST
hello again. is bbc news. we have the latest is bbc news. we have the latest is this headlines. the eu looks set to postpone a band that would have prevented british meat sales in northern ireland. we get some reaction from a leading trade body. the sky thinking. united airlines beds big on a swift return for international travel by spending $30 billion on 270 new planes. and a glass half full for the wine industry as the pandemic leaves a sour taste in the mouth. we will tell you how some vineyards are trying to lift spirits by teaming up with
celebrities. let's get down to business. in the last minute deal the eu looks set to postpone a ban on some british meat products being sold in northern ireland. the proposed man on items like fresh sausages was due to come into effect onjuly one and was a consequence of the northern ireland protocol, a deal between the uk and eu reached in 2019. the protocol is the part of the brexit deal that creates a trade border in the irish sea in order to prevent a hardening of the irish land border. it keeps northern ireland in the eu single market for goods and it means eu customs rules are enforced at sports. so will businesses be relieved about the news of this band being postponed again? let's talk this through with roger pollan, the federation of
small business in northern ireland. good morning. it is hoped today that the eu will confirm the postponement of the ban of certain types of meat coming into northern ireland. i presume you were relieved to hear that?— hear that? yes. up to a point we are relieved. _ hear that? yes. up to a point we are relieved. it _ hear that? yes. up to a point we are relieved. it does - hear that? yes. up to a pointi we are relieved. it does bring certainty. it has been unhelpful that it is coming literally hours before the grace period runs out so there was no certainty for people to plan going into tomorrow whether they were allowed to bring the product in or not. what it does do is create a larger cliff edge at the end of september because this grace period will run out then along with the one that allows supermarkets to bring in goods to northern ireland. so there is a lot of work to do, it's just pushed it further down the road. �* . , , ., , road. and that is the problem for business, _ road. and that is the problem for business, supermarkets i road. and that is the problem l for business, supermarkets and suppliers. everything is so short—term and they have to react very quickly to decisions made at the last moment. the? made at the last moment. they are and that _ made at the last moment. they are and that is _
made at the last moment. they are and that is frustrating - are and that is frustrating because to a certain extent northern ireland is a porn court in a different game between the eu in the uk and thatis between the eu in the uk and that is not acceptable and we need to get beyond that. the irony of this is that this is very much a game of two halves for businesses in northern ireland sold to the rest of the world there is no better place to be based on the western hemisphere than northern ireland because you can access all of the eu market and all of the uk market unfettered. a fantastic advantage. the problem is. coming in from great britain into northern ireland and that is where the challenge has been postponed again. so industry itself has stepped forward with solutions to this. there are ways now of bringing product in from great britain into northern ireland where it is tracked and traced all the way through from factory to plate and so we need to see those ideas being explored by politicians to bring forward practical improper solutions that will make this work for everybody. i wanted to ask you that question. what is the long—term solution to this? as you say we
will be back here again in the situation in september which is not far off at all. the solution _ not far off at all. the solution is _ not far off at all. the solution is to - not far off at all. the - solution is to differentiate between what is coming into northern ireland and what is going through northern ireland. so if you have a regulatory compliance service that guarantees stuff coming through northern ireland and going into the rest of the eu meets the eu standard and can satisfy the eu that everything is done to protect its market than that is the way to move forward here. industry has stepped up and is doing that anyway now. they are bringing forward processes and procedures we do need government to recognise those processes and adopt them is the way things are going to be done and that way we can take a lot of the heat out of this and make a protocol much work —— work much betterfor make a protocol much work —— work much better for business. we will keep an eye on the decisions made today, certainly. thank you for being on the programme. let's talk about the uber of china and it is about go public on wall street. so shares in didi which will be priced at $14 each will
began trading on the us stock exchange later. michelle fleury is based in new york and has more details.— is based in new york and has more details. despite political tension between _ more details. despite political tension between the - more details. despite political tension between the us - more details. despite political tension between the us and i tension between the us and china, chinese companies are still flocking to wall street and the biggest of these american stock market debuts is that of chinese ride hailing giant didi whose shares began trading on the new york stock exchange this wednesday. didi is often called the uber of china. it allows users to connect with taxis for higher. it operates nearly 4000 cities across 15 countries and in its prospectus it said it had more than 493 million active users at the end of march. it is just one of many chinese —— hoping to tap into the us market. despite legislation threatening to delist chinese
companies. so while the interest? if you look at what has been happening on the us financial markets, money has been pouring in, even with uncertainty surrounding the pandemic. look at the recent highs on the s&p 500 as an example of that. you also have the federal reserve that has hinted rates may rise in 2023. since rates and markets tend to move in opposite directions, an increase could cause the stock market to fall which is why these companies are trying to strike now way conditions are right. strike now way conditions are ri . ht. ~ ., ., right. we will have more in the financial markets _ right. we will have more in the financial markets a _ right. we will have more in the financial markets a little - financial markets a little later. that was michelle fleury. it was often described or has been described as the factory of the world. so how are china's manufacturers doing right now with the sector saw a dip to a four—month low in june. the latest numbers have come out, partly because of the rising cost of commodities. and a resurgence of covid—i9 cases hitting the world's second biggest economy. the fall was
more than many were expecting or predicting. let's go live now to our asia business hub. mariko has the lovelyjob of crunching the numbers. mariko, tell us more. what does that tell us more. what does that tell us more. what does that tell us about how china is doing at the moment? we're talkin: doing at the moment? we're talking about, _ doing at the moment? we're talking about, as _ doing at the moment? we're talking about, as you - doing at the moment? we're talking about, as you how. doing at the moment? we're l talking about, as you how busy chinese factories have been and activity still grew but the growth has slowed down once again from the previous month because of, as you say, higher raw material cost and the chip shortage that we keep reporting on. covid—i9 hour break in the major export province also did not help either because it basically disrupted shipment as well. some economists are not too concerned about the overall cost economic growth but the chip supply crunch is having a big impact notjust on china but on other manufacturing hubs in asia such as japan and south korea and of course for the chinese economy we are starting to notice investors concerns
about its growing debt once again which is seen as one of the biggest economic challenges, if you like, after the chinese communist party turns 100 this week. beijing has been trying to tackle the ballooning debt pile that the pandemic has prompted the authorities to make it easier for companies to get loans. that saw chinese debt sort of record levels in 2020.- record levels in 2020. thank ou for record levels in 2020. thank you for explaining _ record levels in 2020. thank you for explaining all - record levels in 2020. thank you for explaining all of - record levels in 2020. thank| you for explaining all of that. but is bringing out other business stories. the uk government announced new legislation to allow central and local government greater freedom to support businesses. the subsidy control bill will replace eu wide state aid rules. those rules require member states to seek approval for government assistance to firms. foreign business leaders will no longer need to quarantine when arriving in england if their trip is likely to have a significant economic benefit to the uk. the government said the exemption
will be for arrivals from amber list countries and will only be given in exceptional circumstances. under 18th travelling to mainland portugal with a fully vaccinated parent guardian will not have to quarantine. portuguese authorities issued a statement following two days of confusion over whether portugal's new rules applied to minors. under the rules, adults must quarantine for 14 days unless they can prove that they have received their second vaccine dose a fortnight before they arrive. well, let's talk about the travel industry because as you know, worldwide it has been extremely challenging for everyone within the industry because of the pandemic. but has not stopped united airlines making a huge investment for its near—term future. the airline has placed its biggest aircraft order to date in a bed on travel returning post pandemic. united announced it has ordered 270 boeing and airbus planes with more than $30 billion. let's discuss this
with your base williams, the head of equities. good to see you. again. it is united making a move because it can get these planes on the cheap at the moment? i planes on the cheap at the moment?— moment? i think that is absolutely _ moment? i think that is absolutely right. - moment? i think that is absolutely right. the i moment? i think that is - absolutely right. the boeing 737 max has supply, they have plenty supply at the moment so they can buy them. the other feature about this is thatjets reduce the carbon footprint of the airline. there is less carbon per mile and it is also part of the whole united airlines up grade to they will be fitting many more slightly businesslike seats with more space and this will give them the opportunity to improve their targets.— the opportunity to improve theirtaraets. ~ ., ~ their targets. also an american carrier, their targets. also an american carrier. it _ their targets. also an american carrier, it has _ their targets. also an american carrier, it has received - carrier, it has received financial aid from the government. so it is a bit of position, also of course united, another american airlines do a lot of domestic travel, notjust transatlantic. travel, not just transatlantic. that travel, notjust transatlantic. that is absolutely right.
within the us, airline markets have been busy becoming up to july four, a big travel date. from that point of view that had good signals. at the travel industry is beginning to get conflicting signals. disney are indefinitely delaying its first crews were as carnival started its first crews this weekend and the share prices of travel companies are coming under pressure because they keep raising new capital because they are not making profit at they are not making profit at the moment. in they are not making profit at the moment.— they are not making profit at the moment. in the picture is different depending - the moment. in the picture is different depending on - the moment. in the picture is different depending on where you are in europe or those heavily invested in european travel, things do not look good at all. ., ., , ., at all. the new variants of covid are _ at all. the new variants of covid are causing - at all. the new variants of covid are causing all - at all. the new variants of covid are causing all sortsj at all. the new variants of i covid are causing all sorts of persistent disruptions, not just of the travel industry but the global supply industry. the question is whether the market is beginning. it is difficult to turn over on the market at the moment and people are worrying that we may be entering the most severe slot play shock to the global system since 1973. play shock to the global system since 1973-— since 1973. thank you for your time and _
since 1973. thank you for your time and it — since 1973. thank you for your time and it is _ since 1973. thank you for your time and it is good _ since 1973. thank you for your time and it is good to - since 1973. thank you for your time and it is good to talk - since 1973. thank you for your time and it is good to talk to i time and it is good to talk to you. —— severe supply shock. still to come, one glass half full for the wine industry as the pandemic leaves a salad house in —— sour taste in the mouth. but we will tell you how some vineyards are trying to lift the spirits by teaming up with a celebrity. china marked its first day of rule in hong kong with a series of spectacular celebrations — a huge fireworks display was held in the former colony. the chinese president, jiang zemin, said unification was the start of a new era for hong kong. the world's first clone has been produced of an adult mammal. scientists in scotland have produced a sheep called dolly that was cloned in a laboratory using a cell from another sheep. i for the first time in 20 years, i russian and american spacecraft have docked in orbit - at the start of a new era of cooperation in space. cheering and applause.
challenger powered past the bishop rock lighthouse at almost 50 knots, shattering the record that had stood for 34 years, and there was no hiding the sheer elation of richard branson and his crew. hello. bbc news. let's remind you of our top stories. the fans are ecstatic because for the first time in 55 years, england have defeated germany in a major knockout football match. england is through to the quarter—finals on saturday. canada's heatwave turns deadly. police say doesn't have died in vancouver as north american temperatures hit new highs.
during the pandemic, many workers from overseas left the united kingdom to return home. it hit the hospitality sector, as we have reported, extensively but also other sectors such as food processing, logistics construction. it is a long list. the problem now could come about, could about to become worse because as you have heard eu citizens living in the uk have until tonight to apply to stay or to lose their rights under post brexit rules introduced by the government. more than 5.6 million applications have been received but around 400,000 cases are still waiting to be processed. some businesses are warning there is already a skills shortage and this could make it a lot worse. richard halpin is chief executive of home serve, relying on workers to provide a vast array of services such as kitchen fitting, electricity ——
electricians and plumbers and so forth. how concerned are you about this deadline tonight and the impact it could have on skilled workers in the uk? i am concerned- _ skilled workers in the uk? i am concerned. we _ skilled workers in the uk? i am concerned. we have _ skilled workers in the uk? i am concerned. we have a - skilled workers in the uk? i —n concerned. we have a shortage of skills across the uk and thatis of skills across the uk and that is notjust in hospitality and farming but in our sector of construction. as you said, this is the day that migrant workers, if they have not registered and do not have the required occupations on the shortage occupation list, then they will need to leave. 0ur our trade research shows 80% of homeowners want to have a major homeowners want to have a major home improvement undertaken this year and wejust home improvement undertaken this year and we just don't have sufficient skilled trades in this country to meet that demand. ﬁgs in this country to meet that demand-— demand. as you say, it is a erfect demand. as you say, it is a perfect storm, _ demand. as you say, it is a perfect storm, isn't - demand. as you say, it is a perfect storm, isn't it, - demand. as you say, it is a perfect storm, isn't it, at i demand. as you say, it is a i perfect storm, isn't it, at the moment. the tradespeople are missing, so those people who are working are extremely easy,
they can ask for higher wages, as it were. there is also a shortage of supply of the materials needed as well, because of this urgent home improvement going on at the moment? i improvement going on at the moment?— improvement going on at the moment? ~ .., ., , moment? i think we can ease the materials problem. _ moment? i think we can ease the materials problem. we _ moment? i think we can ease the materials problem. we have - moment? i think we can ease the j materials problem. we have seen it get better. keep it is focusing what we can do for the skilled labour and trades. we need to act quickly. there is a short—term solution, that is expanding the migration advisory committee's list of shortage occupations. that currently includes it analysts, that's, graphic designers, and it now needs to include kitchen fitters, bathroom installers, fences, tree surgeons. # it analysts, vets. there is a very long list that needs to be included.— long list that needs to be included. �* . included. and where are the bi est included. and where are the biggest shortages _ included. and where are the biggest shortages at - included. and where are the biggest shortages at the - biggest shortages at the moment?— biggest shortages at the moment? a ., ., moment? across most of the home installation — moment? across most of the home installation trades. _ moment? across most of the home installation trades. so _ moment? across most of the home installation trades. so that - moment? across most of the home installation trades. so that is - installation trades. so that is a long—term effects. i think in the medium term this is all
about homegrown skilled workers, all employers need to take joint responsibility with the government to doubts more apprentices going. i think we've done a really good job of getting school leavers into higher into university. but we really need to encourage them to take the skilled apprentices. to take the skilled a- rentices. ~ , ., , apprentices. when did you see the shortage — apprentices. when did you see the shortage become - apprentices. when did you see the shortage become really . the shortage become really acute? is it mainly because of the pandemic or has brexit played a big role in this as well? when did people start to leave en masse, as it were? i think it is all these factors coming together. i think there has been a gradual migration of labour out of the uk, combined with that significant increase in demand, as we are all living in demand, as we are all living in our homes, using them more, and want to do things like vital home improvement. this is a way to get the economy back and running. we can't build
back better if we don't have any builders.— back better if we don't have any builders. many of these workers have _ any builders. many of these workers have been - any builders. many of these workers have been able - any builders. many of these workers have been able to i any builders. many of these - workers have been able to work throughout the pandemic, haven't they? they were not facing being furloughed or that sort of challenge.— sort of challenge. absolutely. the demand _ sort of challenge. absolutely. the demand has _ sort of challenge. absolutely. the demand has been - sort of challenge. absolutely. the demand has been there i the demand has been there throughout the lockdown. the home improvement trades couldn't work in the first lockdown, that would be emergency ones, so there is some pent—up demand. we have seen that continuing. we have seen that continuing. we have seen that continuing. we have seen that addressing —— addressed with higher levels of addressed with higher levels of a shipments, we set up a training college in nottingham, we have a target 25,000 apprentice vacancies, with chequered trade encouraging all of our trades to take on an apprentice. we need increased government support, the current funding is around £3000 to £4000 depending on age, and we need to get that up to between £5,000 and £7,000. in the medium term that will make the
difference, but in the short term, let's get more of these skilled workers back from europe. skilled workers back from euro e. . . skilled workers back from euroe. . ., ., ~' i., skilled workers back from euroe. . ., ., ~' ., europe. richard, thank you for our europe. richard, thank you for your time- _ europe. richard, thank you for your time. chief _ europe. richard, thank you for your time. chief executive - europe. richard, thank you for your time. chief executive of l your time. chief executive of homes serve. now, quinn is a start—up company which has made an app to help people with diabetes managed to help. it was launched last year in the uk and has proved very popular. but a few months before the app was launched, quin's co—founder suddenly left the firm, so co—founder cindy williams had to think of a strategy to save the firm from ruin. she was the co—founder that stayed. let's find out how she went about that. �* , . . find out how she went about that. ~ , ., ., , ., ., find out how she went about that. �* , ., ., ., ., that. as a leader, you have to rovide that. as a leader, you have to provide the — that. as a leader, you have to provide the glue _ that. as a leader, you have to provide the glue that - that. as a leader, you have to provide the glue that keeps i that. as a leader, you have to l provide the glue that keeps the team together and keeps the company running, and i learned that when my co—founder decided to leave. it
that when my co-founder decided to leave. . , . that when my co-founder decided to leave. ., , ., , ., to leave. it was an existential crisis, to leave. it was an existential crisis. for _ to leave. it was an existential crisis, for sure. _ to leave. it was an existential crisis, for sure. she _ to leave. it was an existential crisis, for sure. she was - to leave. it was an existential crisis, for sure. she was the l crisis, for sure. she was the visionary, she was the person in the centre of everything that was driving the product forward. ~ ., , forward. when the team loses confidence. — forward. when the team loses confidence, we _ forward. when the team loses confidence, we stick _ forward. when the team loses confidence, we stick around, i confidence, we stick around, they see it through with us. i knew there were three things that really keep people in a company. the first of these is, am i growing and learning? the second is, do i have friends in the company? and the third is, am i making an impact with my work? does the world get better order something in the world get better as a result of the time i am spending here in this company? leadership matters. are you looking at your people and your team and really understanding what it is that, what is the underlying glue that is making
this work, making it stick? what am i doing to make sure thatis what am i doing to make sure that is built and invested in, and just a constant source of life for the company?- and just a constant source of life for the company? that was cindy williams, _ life for the company? that was cindy williams, part _ life for the company? that was cindy williams, part of - life for the company? that was cindy williams, part of our - life for the company? that was j cindy williams, part of our ceo secret series, sharing her top tips for anybody thinking and being brave to start a company. line connoisseurs could be forgiven for thinking that celebrity wines are simply a brand marketing fad, but at a time when wine drinking is in decline, people at vineyards are apparently queueing to partner up with celebrities and the numbers speak for themselves. if you look at kylie minogue, she saw that there were 70,000 bottles of her namesake french rose within a week of going on the market. in australia, that was. sarah jessica parker's wines were on sale in 43 us states, and are expanding global distribution. who knew? well, ali douglas does. she is the digital editor of decanter. good morning to
you. is thisjust of decanter. good morning to you. is this just really a bit of a gimmick? and also, i was surprised to see that wine drinking is in decline. i thought it was going up in the lockdown. ,, ., thought it was going up in the lockdown— thought it was going up in the lockdown. , ., lockdown. so, in terms of wine drinking. _ lockdown. so, in terms of wine drinking. i _ lockdown. so, in terms of wine drinking, ithink— lockdown. so, in terms of wine drinking, i think it _ lockdown. so, in terms of wine drinking, i think it is _ lockdown. so, in terms of wine drinking, i think it is so - lockdown. so, in terms of wine drinking, i think it is so hard i drinking, i think it is so hard to tell because there are lots of different factors at play. people were drinking more at home because we were not in restaurants, we were not at the pub. but i think there is a lot to be said about how the younger generation are turning more teetotal. i also think that the boom and spirits, craft spirits, cocktails, maybe people are drinking but instead of a glass of wine. for celebrity wines, they are definitely not necessarily a gimmick. i am sure there are exceptions. there is a lot of impressive and serious procedures involved in these projects, the cartierfamily projects, the cartier family with projects, the cartierfamily with jay z, a very old champagne making family, they are behind a project with brad
pitt and angelina jolie. under this liberties themselves, you know, i think these are passion projects. i think they want to make something that they are proud of. and i guess that they can enjoy as well. so proud of. and i guess that they can enjoy as well.— can enjoy as well. so it is interesting. _ can enjoy as well. so it is interesting. when - can enjoy as well. so it is interesting. when you i can enjoy as well. so it is| interesting. when you say can enjoy as well. so it is - interesting. when you say the very prestigious winemakers behind these celebs, you would think they don't actually need the sort of celebrity status to sell their wines, presumably they sell themselves?- sell their wines, presumably they sell themselves? yes, in some cases- _ they sell themselves? yes, in some cases. but _ they sell themselves? yes, in some cases. but similarly, . some cases. but similarly, kylie has got 2 million followers on instagram, sarah jessica parker has 6 million, post malone has a rose, he's got 22 million followers. so, you know, these can be on scales that some of these winemakers may not have previously thought was possible. i think they are definitely reaching a demographic are not necessarily thinking about my not showing an interest in mind. it is opening the door to new wine
lovers. 50 opening the door to new wine lovers. , ., , lovers. so it is here to stay, this trend? _ lovers. so it is here to stay, this trend? i _ lovers. so it is here to stay, this trend? i think _ lovers. so it is here to stay, this trend? i think so. - lovers. so it is here to stay, this trend? i think so. i - lovers. so it is here to stay, i this trend? i think so. i mean, some celebrities _ this trend? i think so. i mean, some celebrities have - this trend? i think so. i mean, some celebrities have been i some celebrities have been doing this for about ten years, so i feel like it has really picked up pace recently, but suddenly it feels like a lot of celebrities have vineyards or wineries, but some of them have been doing it for quite a while. ~ ., ., ., been doing it for quite a while. ~ ., ., ~ been doing it for quite a while. ., ., ~ ., while. well, good to talk to ou. while. well, good to talk to you- thank _ while. well, good to talk to you. thank you, _ while. well, good to talk to you. thank you, ellie. i while. well, good to talk to i you. thank you, ellie. really interesting, and news to me. let's show you how asian markets are doing today. we had a record breaker yet again for the tech weighted nasdaq. japan is completely flap, this is interesting, investors are seeing the wave on wall street. let's look at the us. a bumper session the night before. the nasdaq at record highs. in asia they are concerned about the news of rising cases of the delta variant of covid in various countries across asia and therefore new lockdown measures are being introduced, new restrictions in many economies in the asia region.
that is what is keeping a lid on positive sentiment at the moment, with investors not sure which way to turn. you are up to date. that is all in this programme. see you soon, have a lovely day. hello there. so far this week, it's northern and western areas which have seen the best of the sunshine and the highest temperatures. further east has been cloudier with outbreaks of rain. but as we move towards the end of this week, it looks like high pressure will start to build in, so it will turn sunnier across eastern areas. there'll still be the odd shower here and there, and then into the weekend, it looks more unsettled. for wednesday, you can see the pressure pattern — high pressure to the north and west, so largely clear with some sunshine here, but low pressure again over the near continent will affect eastern parts of the country. we'll start quite grey, i think, through this morning for many areas, but the sunshine will become more widespread across scotland and northern ireland, western england and wales. the odd shower here, there may be a odd heavy one. but eastern england, the southeast, again, a rather grey day with some patchy light rain or drizzle,
feeling cool across north sea coasts with a fresh breeze here, further west with the sunshine into the low 20s celsius. it looks like it could be another grey day on wednesday for wimbledon — and then, thursday and friday, it'll turn sunnier and warmer with temperatures reaching the mid—20s celsius. so through wednesday night, we hold onto the cloudy skies again across the east and southeast, the odd shower here. further north and west, though, you can see clearer skies — so it'll be a bit cooler where we have those clear spells, single—figure values in places. for most, i think we're looking at 10—12 celsius. for thursday, that area of low pressure starts to pull away from the east, but still close enough to produce thicker cloud and the odd shower — again, a fairly brisk northerly breeze across eastern areas will peg temperatures back. but elsewhere, plenty of sunshine around scotland and northern ireland, the midlands, western england and wales — apart from the odd shower, most places should be dry, and again, temperatures reaching the low—20s celsius. on friday, higher pressure builds in, so it looks like we should see more sunshine around even across the south—east. and it'll be warm, 25—26 celsius. there could be the odd shower around, it might well be plenty dry, but emphasis will be on dry and sunny weather. as we head on into the weekend, though, low pressure starts to take back control, meaning we will start to see
good morning, welcome to breakfast, with louise minchin and dan walker. 0ur headlines today: thejinx is finally lifted — england beat germany in the knockout stages of a major tournament for the first time since �*66. i just thought it was a brilliant afternoon, you know. we've talked about bringing enjoyment to the nation, really, and afternoons like this are what that's about. relief for the thousands of fans inside wembley, and the millions more watching on at home, in fan zones and in the pub. the atmosphere was electric in