tv World Business Report BBC News August 5, 2021 5:30am-6:01am BST
this is bbc news with the latest headlines in business. hope for holiday firms, as the uk eases travel restrictions with france coming off the quarantine list from sunday. time to taper? top fed officials hint that support for the us economy could be wound down sooner than expected. huawei standoff — final arguments are heard in a canadian court, as the us tries to extradite the tech giant's chief financial officer. plus, soaring screen time — how the pandemic has changed our media habits.
we start with the travel industry. it's been welcoming changes to the uk's covid travel rules which come into force on sunday. as you have been hearing france — a major destination for british tourists — is to be brought into line with other amber list countries. those coming from france to england, scotland and northern ireland will no longer need to quarantine, if they are fully vaccinated. seven europen countries including austria and germany willjoin the green list. and india and the united arab emirates are among those moving from red to amber. dfds which operates ferries between the uk and france is among the companies welcoming the changes. in terms of the amber plus rules, we saw a dipping in bookings. people were booking
for the next few days and people who really had to travel. we saw a surge in booking when travel looked to be reopening. we know how many people visit our website and looking for prices. we expect that will pick up sharply and people will have more confidence to book and travel and enjoy their holiday. stephanie boyle is from the flight booking site, skyscanner. good morning to you. are you expecting a surge in enquiry of people looking to go into france? i people looking to go into france? ~' ,., people looking to go into france? ~' , people looking to go into france? ~ , , ., france? i think so is the short answer. france? i think so is the short answer- we — france? i think so is the short answer. we saw _ france? i think so is the short answer. we saw a _ france? i think so is the short answer. we saw a 4596 - france? i think so is the short answer. we saw a 45%jump l france? i think so is the short | answer. we saw a 45%jump in traffic to the site immediately following the announcement and we know that is pretty representative of any time there is an addition to the green list or any time travel is made more easily. it is frustrating it is coming so late in the summer season but people are pretty spontaneous
in that bookings and uk travellers are looking to book something within the next 27 days so they may be quite a few people out there still looking to understand where they can go and are quite excited about the fact france has been taken off the amber plus less. it is definitely a big step in the right direction. i definitely a big step in the right direction.— definitely a big step in the right direction. i think many in the travel _ right direction. i think many in the travel industry - in the travel industry disappointed the testing has not changed or made easier, for example those who want to go to green list countries, in terms of tests before, when you return to the uk, it is expensive and complicated. that is definitely _ expensive and complicated. that is definitely what _ expensive and complicated. twat is definitely what we are hearing. when we asked travellers which measures would make them feel more confident about travelling, cheaper and easier testing options tends to come up pretty frequently as one of the first few options. it is difficult for people to understand we are moving into a different way of travelling. we
have to acknowledge that is the reality, howeverthere have to acknowledge that is the reality, however there are lots of websites out there and lots of websites out there and lots of information about anyone wanting to understand how they can compare prices for testing and different options. while it is not ideal, i do not think it is not ideal, i do not think it is a barrier to travel and most people would welcome an opportunity to travel and are happy to get tested if they can then avoid quarantine on return. and that is more countries to the green list possibly more advantageous. ii possibly more advantageous. if you are a family of four, those tests could double the cost of your holiday which i think is a significant barrier. what are the current trends at the moment?— the current trends at the moment? , ., ., ., , moment? we see a lot of people lookin: at moment? we see a lot of people looking at the — moment? we see a lot of people looking at the traditional - looking at the traditional popular destinations for uk travellers. very much looking at spain, greece and obviously france but also people looking further afield into october and
while testing is definitely a barrier it is not putting people off. you're looking to perhaps seven week trip over the next few months and they are looking even as far as bali and at the us. a lot of optimism about travel returning and reopening and it is not a complete move towards the right direction but definitely heading in the right space and definitely what we are seeing is not people coming to a site to check the information and to look what requirements are in place, what documentation is that going to need and we have tools to help people understand that and where they can find that and where they can find that information, including a map updated with the current restriction so people know both what is required when they arrive at destination and what they need to when they come back. but we are seeing a lot of interest and huge amounts of demand. that pent—up demand within the travel industry is enormous and so people are willing to change their plans
if it meant they would be able to get on a plane and get travelling.— to get on a plane and get travellinu. ~ . , ., ~ , ., travelling. which should keep a close eye- _ travelling. which should keep a close eye. thank _ travelling. which should keep a close eye. thank you _ travelling. which should keep a close eye. thank you for - close eye. thank you for joining us. of course, a lot of detail on our website as well about the latest changes and what is required of you and you travel. do look at the abc website. let's move to the us now because the federal reserve could be set to start removing its support for the economy sooner than expected. in a speech on wednesday, the fed's number two in charge, vice chair richard clarida, said interest rates could start rising in 2023. and he was joined by two other top officials in signalling that the central bank might soon start winding down the amount of cash it's pumping into the bond markets. that hit shares on wall street. samira hussain in new york has more. the comments by the vice—chair of the federal reserve that the
current pace of the economic recovery could mean interest rates could be going up by 2023 is noteworthy especially when you couple it with comments made earlier by two other central bank policy that they would like to see the federal reserve start reducing its massive bond buying programme. it is a sign that the fence could be looking at easing its accommodated monetary policy much sooner than it and, frankly, many others had originally thought. all of this depends on incoming economic data in the next few weeks, including labour reports, inflation readings and, of course, consumer sentiment. and it also really depends on the virus. the delta variant of covid—i9 is weekly spreading in many parts of the united states and that could derail the country? current economic recovery. susannah streeter is senior investment and markets analyst at hargreaves lansdown.
lovely to see you. the asian market are not wobbly to much but it is on the minds of global investors, when will the fed make it move? absolutely. many investors _ fed make it move? absolutely. many investors are _ fed make it move? absolutely. many investors are on - many investors are on tenterhooks trying to work out when exactly the fed is to rollback this huge spending spree it has been on in terms of bond buying and the markets are extremely sensitive to any suggestion of the running back of this drug of cheap money but, of course, it may be painful but it is necessary. the federal reserve and other central banks around the world need to reserve firepower for future crises. if it continues in its current level of bond buying and also these ultra low rates, it will have nowhere to go if economies need more support in the future but of course the federal reserve is
facing a tricky balancing act because of course it is not just have to try and get inflation on target, which is really running very hot right now, way above the targeted 2%, but it also has to supportjobs in the economy and certainly, as far asjobs are in the economy and certainly, as far as jobs are concerned, the economy still has not recovered from the hit of the coronavirus.— coronavirus. also in some states. — coronavirus. also in some states, the _ coronavirus. also in some states, the delta - coronavirus. also in some states, the delta variant i coronavirus. also in some | states, the delta variant is spreading rapidly and in some states it is lower than others so it is quite an uneven recovery and that is difficult for the fence to manage as well? ~ , ,., , for the fence to manage as well? ~ , , ., ., well? absolutely. you will have - ockets well? absolutely. you will have pockets of _ well? absolutely. you will have pockets of the _ well? absolutely. you will have pockets of the country - well? absolutely. you will have pockets of the country where i pockets of the country where the economy is going great aunt stop in fact causing problems in hiring jobs because there is simply not enough workers. whereas in others it is being held back with real concerns about the spread of this new variant which really has
established right across the world now. however, interestingly, if the new variant doesn't lead to a downturn in the economic recovery that actually could keep inflation lower than it might ordinarily have been so in some ways, that could help even out the really high prices that we have seen. it certainly does seem for the moment this debate is that in the open and all this policy makers from the federal reserve are talking about it and it seems critically likely that, given the recovery overall, that the bond buying programme will be rolled back sooner rather than later and we will see interest rates begin to rise even though jerome powell, the head of the federal reserve, says actually right now it is going to be too difficult to do that.— difficult to do that. thanks. have a good _ difficult to do that. thanks. have a good day. _ if your screen time has shot up in the past year, you are not alone. uk adults spent a third
of their waking hours in 2020 watching tv and online video, according to an annual survey by media regulator ofcom. it says subscription services such as netflix were the big beneficiaries as repeated lockdowns left millions at home looking for entertainment. here's our technology correspondent rory cellan—jones. like many of us, the oakleigh family spent much of 2020 glued to screen though not necessarily altogether. mum and dad in front of the main telly, their son watching youtube videos gaming and chatting to friends. . . , , , friends. increasingly, it is 'ust friends. increasingly, it is just use _ friends. increasingly, it is just use and _ friends. increasingly, it is just use and current - friends. increasingly, it is| just use and current affairs really. just use and current affairs reall . , , really. otherwise it is streaming. _ really. otherwise it is streaming. almost i really. otherwise it is - streaming. almost everything else is streaming. _ streaming. almost everything else is streaming. do - streaming. almost everything else is streaming. do you - streaming. almost everything l else is streaming. do you watch any television? _
else is streaming. do you watch any television? almost - else is streaming. do you watch any television? almost none. i l any television? almost none. i am usually _ any television? almost none. i am usually watching _ any television? almost none. i am usually watching youtube. | any television? almost none. i i am usually watching youtube. a am usually watching youtube. snapshot of our media habit shows we spent five hours a0 minutes watching tv and video. up minutes watching tv and video. up 47 minutes watching tv and video. up a7 minutes on the year before. but the increases under the fact that watching subscription streaming services almost double. netflix is now in more than half of all uk homes. with it serious, it now has more subscribers than sky, virgin and the other uk paid tv providers put together. we virgin and the other uk paid tv providers put together.- providers put together. we are --eole providers put together. we are people migrating _ providers put together. we are people migrating from - people migrating from traditional division ii streaming services when they can watch when they want when they want. —— television. can watch when they want when they want. -- television.- they want. -- television. 2020 was a year _ they want. -- television. 2020 was a year britain _ they want. -- television. 2020 was a year britain became - they want. -- television. 2020 was a year britain became a i was a year britain became a streaming nation with traditional broadcast to be
something for other people and set to decline. but is this a permanent change and will be want to continue to pay for the likes of netflix, amazon prime, disney plus or will be start splitting some off. we disney plus or will be start splitting some off. we have a total of six — splitting some off. we have a total of six streaming - splitting some off. we have a | total of six streaming services subscribe at one point. that has now slimmed down to four at the moment and i think another one might be dropping off soon. hey, google, play the bbc broadcast... more than half of uk homes now have a smart speaker. an internet connection not an aerial or satellite dish. it is becoming the kuwait we get entertainment. — — the new way we get entertainment. rory cellan—jones, bbc news. what are you watching? do tell. i must admit i have been sucked
in to several series. to asia now and the standoff between china and the us over a top executive of huawei. meng wanzhou is the tech giant's chief financial officer and daughter of its founder. the us wants her to stand trial for breaking its sanctions on iran. the case is reaching a crucial stage. nick marsh is following this for us in singapore. nick, fill us in. this was a huge story when it first broke. what is the latest? , , ., , first broke. what is the latest? , , . latest? yes, huge story. we will have _ latest? yes, huge story. we will have to _ latest? yes, huge story. we will have to wait _ latest? yes, huge story. we will have to wait some - latest? yes, huge story. we l will have to wait some months before we get the verdict, but this is about much more than the fate of meng wanzhou. this case is enigmatic of the broader tussle of beijing and washington when it comes to trade, the technology and mistrust. the measures put in place. but ever since this case happened, big technology companies like huawei, other
companies like huawei, other companies in china have been put on blacklists that prohibit them from doing business in the united states. from there point of view of huawei, 5g was a big part of their developments. concerns from washington have essentially cut off huawei from key suppliers in the united states. you just have to look at what happened last week when huawei released a new handset without any 5g capability. that is a big dealfor a company like huawei. if you want an idea of the damage it is doing, just look at the results of this last quarter. when it comes to handset sales, huawei, for the first time in seven years, slipped down off the top five sellers in china. this is one of the giants of the industry, so incredible stuff. with regards to this case, regardless of the verdict that we hear, the damage, you would argue, has already been done at
this is bbc world news, the latest headlines: britain changes its international travel rules, making journeys to the uk easier for fully—vaccinated passengers. the government says its following the science. the un has issued a stark warning about the safety of thousands of civilians, in the afghan city of lashkar gar as fierce fighting continues between the taliban and government forces. let's go to australia now, where extended covid lockdowns in sydney and the surrounding regions are causing immense economic damage.
new south wales state, of which sydney is the capital city, represents around a third of the nation's economic activity — and experts are predicting a significant hit to australia's economic growth in the current quarter. phil mercer reports from sydney. cheer is hard to find in sydney's lockdown, but businesses are doing what they can to keep going. although this bar has been forced to close, it has been converted into a temporary covid safe drive—through. into a temporary covid safe drive-through.— into a temporary covid safe drive-through. normally we would have _ drive-through. normally we would have 120 _ drive-through. normally we would have 120 people - drive-through. normally we would have 120 people in i drive-through. normally we i would have 120 people in here all drinking paints, having lunch and dinner. they would be a big line at the bar. we might have five cars lined up on the street. it looks amazing, but thatis street. it looks amazing, but that is five people rather than 120 people. we are down 65% on
revenue. industrial estates are mostly empty. many shops are shut and construction suspended. there are disaster support payments for businesses that need all the help they can get. they key is, and we have been speaking to government about it, payment needs to be quick. they need to communicate with small business, let them know that money is coming. we have learned resilience over the last year and a half but adaptability is crucial as well. each week, the lockdown in new south wales is costing the australian economy up to $600 million. as the impact of coronavirus restrictions and other states continue. before the pandemic, this country went three decades without a recession. it is now at risk of having two in just over a year. this is what we used to give to the guests. international border closures are keeping away the tourists who used to rent these bikes.
francisco has changed his business model to become a repair shop. covid is not going anywhere. i don't think tourism is going to be back this summer, so we are in survival mode. right now, it is the only thing we can do. this is my business. i want to save this. it is literally my baby. covid—i9 is again testing the fortitude of the australian economy, which did fight back from previous blows inflicted ljy from previous blows inflicted by the pandemic. but, once more, businesses are having to adapt to survive. philip mercer, bbc news, sydney. finally, as november's global climate summit approaches, we are hearing more and more about the importance of sustainability to combat global warming, whether that's for transport, travel, food or clothes. for many consumers shopping sustainably is a key way to support that, but how do you know that what you are buying is ethical?
a new online shopping platform, netherlands—based dayrize — rates all products on a sustainablity basis. so how does it work? eva gladek is co—founder of dayrize — she's in amsterdam. shejoins us live. she joins us live. welcome to the programme. i had a look at your website and i watched the various videos that explain how you measure products, rate products. talk as director for the viewers.— the viewers. great. we have developed — the viewers. great. we have developed a _ the viewers. great. we have developed a preparatory - the viewers. great. we have - developed a preparatory system for assessing all products individually on the various dimensions of sustainability that are critical, so everything from climate impact — we actually calculate the carbon footprint of products — we look at water stress, have circular a product is in terms of its design, and also all sorts of social and human
rights issues under their livelihood and well—being dimension. we but there in a score from zero to 100 to make it understandable for the average consumer, so they can understand the sustainability score. the higher the score, the better the product? if it gets a high score, it is doing well? exactly, if it were to get a perfect score, a dayrize score of 100, that would mean that the product is fully circular, regenerative, producing almost no impact to the planet, or all compensated for. it is very hard to get a score of 100. you can look on the website to have a look at washing detergent, furniture, clothes, beauty products. there is a huge range of things, but what i noticed is there is a premium if you want to shop sustainably. you have to pay for that. sustainably. you have to pay forthat. it sustainably. you have to pay for that. it is a lot more expensive to buy washing up liquid from you than it is from
the supermarket down the road. that is not necessarily the case. dayrize hasjust that is not necessarily the case. dayrize has just recently launched in the uk. the uk is the first market for dayrize. we have spent the last year recruiting brands across the uk, and also developing the technology over the last 1.5 years to do this scoring. currently, we have over 200 brands and we are recruiting more. as we get more on that you will see that the price points of all the different products will even out. i have a personal anecdote from a couple of weeks ago. i went to look for a washing up liquid, dishwasher tablets, at the supermarket and they were five different products with sustainability credentials of some sort — eco— labels. they had varying price points. someone extremely cheap, others were extremely expensive. the main thing that struck me is that even as an expert, i could not make a rapid decision on what one was actually better
for the environment. sorry to interrupt, but you can make a quick choice on what is cheapest. generic brands in the supermarket are, by a long shot, way cheaper than what you are offering, and the sustainability options on the same supermarket shelf. you have to admit. this isn't necessarily a negative. if we want to shop and an ethical way, we do have to spend more money — that is the isn't it? well, actually, what i am saying is that it isn't always the case that more sustainable or ethical things cost more. sometimes, for example, not having additional material and a product is going to result in it being more sustainable and also less costly, but in general, there are sometimes premiums when it comes to sustainable products, and also brands try to extract more money because of the sustainability credentials, in some cases but i do think that we should be prepared to consume less and better, and
indeed pay more for quality and also sustainability. i have to interrupt you, i am sorry, we are about to go off there but thank you for your time. it was good to have a look at dayrize. thank you, see you soon. our temperatures so far this week have topped out in the comfortable low 20s. in greece, a severe extreme heatwave is continuing. there are wildfires. temperatures by day have topped out at a7 degrees, and overnight — this is an overnight temperature on the island of crete — into the mid—30s. now, there is a bit of relief on the way towards the south—east of europe in the coming days as temperatures will come down a bit. ours are about to go down a bit, too. low pressure is coming into the uk. the heavy downpours, there have been a few so far this week, are about to become more widespread again. this is how we start off on thursday morning, already some showers affecting northern ireland and western scotland. it will turn much wetter through northern ireland
in the morning, but across the western side of the uk, even though you may start dry, rain will move in through the day. that's going to extend eastwards to those areas still having some sunny spells even into the first part of the afternoon. now, behind this main band of rain, brightening up in northern ireland, but here some slow—moving thundery downpours bring a risk of flooding and disruption into the afternoon and evening. and temperatures still across eastern parts rising into the low 20s. all areas, though, seeing freshening winds gusting 30—a0 mph. windiest around irish sea coasts, blowing in plenty of showers as we go on through thursday night into friday morning. some longer spells of rain in scotland, and temperatures as friday starts around the mid—teens. well, that low pressure right across us on friday, and there will be further heavy showers around through the central belt, southern scotland, northern ireland, northern england, north wales, parts of the midlands. this is where there is a risk of some slow—moving, prolonged, even torrential downpours. thundery, too, they'll bring a risk of flooding and disruption. maybe not too many showers running across parts of southern england, but that could well change on saturday. another set of weather fronts
coming our way from the south just pepping up the downpours across southernmost parts whereas elsewhere, it's a similar story. there'll be some heavy and thundery downpours around. it is worth bearing in mind, though, there will also be some sunny spells, not wet all the time. there will be brighter, drier moments in between these downpours. by saturday, many places with temperatures back down into the teens. showery picture continuing on sunday and monday. by tuesday, that low pressure system is out of the way. it will turn drier for a time, though another low moves in later next week.
this is bbc news for viewers in the uk and around the globe. i'm sally bundock. our top stories. britain changes its international travel rules, making journeys to the uk easier for fully—vaccinated passengers. the government says they're following the science what we do want to do is just be able to work with the clinicians, the experts, in order tojust able to work with the clinicians, the experts, in order to just give a very close eye on this beta variant that we already know so much more about now. , , ., , that we already know so much more about nova— that we already know so much more about now. , , ., , , ., ., about now. pcr tests enable us to do that. the un issues a stark warning about the safety of thousands of civilians, in the afghan city of lashkar gar, as fierce fighting continues between the taliban and government forces. police investigating the online racist abuse of england footballers after the euro 2020 final, arrest 11 people.
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