tv World Business Report BBC News August 10, 2021 5:30am-6:01am BST
this is bbc news with the latest business headlines for viewers in the uk and around the world. the us economy shows signs of bouncing back from the pandemic — but could labour shortage hit growth? more than a million teenagers get their exam results today — the results will be teacher—assessed. we take a look at what this means for their future employment prospects. and the van maker which has major electric dreams. we'll be hearing from the company that want�*s to become the tesla of commercial vehicles.
let's start with the us economy, because the latest official figures suggest that it's showing mixed signs of recovery from the pandemic. data from the labor department showed the number ofjob vacanciesjumped by 590,000 to 10.1 million injune. that figure is a record and well above economists�* expectations. the figures also showed hiring rose to 6.7 million injune from 6 million in the previous month, which is the second largest increase since the government started tracking the data in 2000. to get more details on the data, michelle fleury sent us this report from new york. if you are wondering what a pandemic labour market looks like, in a word, peculiar. america had a record 10.1 millionjobs available
america had a record 10.1 million jobs available in america had a record 10.1 millionjobs available injune, million jobs available in june, the millionjobs available injune, the result in part of businesses struggling to hire enough staff, despite an unemployment rate above 5%. a theorist reopened businesses have gone on a hiring spree, trying to rebuild capacity after lockdown. professional and business services, retail hotels, restaurants, all added the mostjob openings. anecdotally i have seen this firsthand, several restaurant owners have told me they have had to cut back on shifts or even stay shut because they simply cannot find enough workers, even when they do higher wages. this mismatch between supply and demand has been a much talked about feature of the labour market in recent months, so what's going on. people receiving pandemic area unemployment benefits may have decided that it made more financial sense to stay home. 0thers financial sense to stay home. others are considering changing careers because there are more employment options around at the moment. for some, employment options around at the moment. forsome, it's about the struggle to find
childcare. all of this helps explain another data point, and thatis explain another data point, and that is the number of people who quit theirjobs. it rose to 3.9 million injune. economists do expect the situation to change. generous unemployment benefits are ending in multiple states in september, and those who struggle to find childcare may find that life gets easier when schools reopen in person after the summer. of course, the unknown in all of this is the unknown in all of this is the rampant spread of the covid—19 delta variant, which has the power to dampen labour demand and supply if consumers get nervous again and started to pull back. more than a million british teenagers will find out their exam results later today, even though not one of them has had the opportunity to actually sit an exam. teacher—assessed a—level results are out on tuesday after exams were cancelled for the second year in a row due to the pandemic. employers and universities use these results to measure pupils against each other,
but the pandemic has meant very different experiences of schooling for many. joining me now is jeevun sandher, who's an economist at kings college london. what impact does this have? does it exacerbate inequality among students, or does it remedy it?— among students, or does it remed it? ~ . , remedy it? what we see in the last ear remedy it? what we see in the last year "s _ remedy it? what we see in the last year 's unfortunately - remedy it? what we see in the last year 's unfortunately it - last year �*s unfortunately it has been disadvantaged students who have been the most likely to lose out. i taught in disadvantaged schools before this pandemic, i toured in them too, and poverty makes it much harderfor too, and poverty makes it much harder for children too, and poverty makes it much harderfor children to too, and poverty makes it much harder for children to achieve their potential, and this particular system, these teacher assessed grades, it hits those kids much harder than otherwise. is not the fault of teachers, they have done everything they could do in order to give best education possible, but we do know that of our own research is that disadvantaged kids are most likely the victim of unconscious bias, as well as
most likely to be off school in the last year because of pandemic related issues. when it comes to national qualifications they need to have national standards and unfortunately we have not had that with this system.- that with this system. what would a better— that with this system. what would a better way - that with this system. what would a better way of - that with this system. what would a better way of doing that with this system. what l would a better way of doing it be in your view? we would a better way of doing it be in your view?— would a better way of doing it be in your view? we could have had a national _ be in your view? we could have had a national system - be in your view? we could have had a national system in - be in your view? we could have had a national system in place, i had a national system in place, we knew this could be a problem since last year when we had the exams with the algorithm that completely failed, but unfortunately schools were only told in january that exams would not go ahead. we should have foreseen a situation where this could happen, and unfortunately the government did not put in that system. again, teachers did their absolute best, but had has hit disadvantaged students are most at the other ones that saw the learning suffered the most. 50. learning suffered the most. so, what effect _ learning suffered the most. so, what effect will _ learning suffered the most. 50, what effect will this have further down the line for this cohort of students when they enter the world of work eventually?— enter the world of work eventuall ? ., , _, ., eventually? for this cohort, the good — eventually? for this cohort, the good news _ eventually? for this cohort, the good news is _ eventually? for this cohort, the good news is many - eventually? for this cohort, the good news is many of l eventually? for this cohort, - the good news is many of them are going to go to universities
and get theirfirst are going to go to universities and get their first place offers, most of them will meet their grades, great news for them. the real worry is for future cohort. we saw last year when too many students were hitting grades that universities were not expecting, we saw universities make less offers in this year. if we see that again this year it will likely have a knock—on effects later on so that this cohort of students, overall they will do 0k by disadvantaged students will be hit harder, they did have learning difficulties during this pandemic, much less likely to have a computer at home, but in the future, it will be children in future years who are most likely to suffer, and therefore we need the government to work for universities and address any capacity issues. the economist at kina's capacity issues. the economist at king's college, _ capacity issues. the economist at king's college, thank- capacity issues. the economist at king's college, thank you i at king's college, thank you very much indeed. a global survey of downloads in 2020 revealed the video—sharing app tiktok has overtaken facebook as the world's most downloaded app. tiktok is chinese owned, and domestic apps dominate the market there with many from overseas being closed out.
joining me now is katie silverfrom singapore. i suppose, really interesting for tiktok, i suppose, really interesting fortiktok, but i suppose, really interesting for tiktok, but having people download the app is not the same as having people actively using it, is it? same as having people actively using it. is it?— using it, is it? that's correct. _ using it, is it? that's correct, but - using it, is it? that's correct, but it - using it, is it? that's correct, but it does l using it, is it? that's - correct, but it does seem that people are also actively using it, so on average, people are watching about 52 minutes every day of videos on tiktok and that's more than they are watching on youtube, so this survey came out by the digital analytics company, the first time since it began which is only back in 2018, that we have seen a company that is not owned by facebook, topping this list, and in fact, it was the only one in the top five that was not owned by facebook, the likes of instagram, what's up, as well as facebook messenger all owned by facebook. part of this is because it was very
popular during the pandemic, by far the most downloaded at in europe, south america and the us, and that's because people were not able to go out and see their favourite musicians perform, they could instead go online and watch them on tiktok, and many people did, whiling away the hours and lockdown. despite this, we saw threats from the then president donald trump to ban it in the us, and even despite that it was hugely popular. another interesting finding from the survey, another top performer was telegram, and what this app allows users to use is adjust the settings to delete messages after a certain period of time. very popular with protesters in hong kong and thailand, and what this seems to show, or what this seems to show, or what the trends show in terms of these new apps that are gaining popularity is it uses privacy more than traditional convenience, traditional goal such as convenience and ease. 0k thank you very much for the moment.
staff at 0cado group, the tech firm behind the online grocer, can now work abroad remotely for one month a year. the move comes as firms rethink workplace policies after the pandemic. under the 0cado group scheme, staff who worked from home during the pandemic will be able to do theirjobs remotely, from locations including outside the uk. joining me now is yael selfin, who's the chief economist at kpmg. do you think this is a one off or do you think we will see other companies across other industries follow suit as well? that's a very interesting question because what we have seen, companies have become more aware of the tax implication as well as data security, and other implications that could arise when staff were overseas, so we have actually seen quite a lot of companies clamping down on that at this moment, but with
the labour market being so tight and the war for talent is very much here with us, i think we will probably see more of that in future.— we will probably see more of that in future. and you make a aood that in future. and you make a good point _ that in future. and you make a good point because _ that in future. and you make a good point because we - that in future. and you make a good point because we were . good point because we were hearing from our north american business correspondent earlier how some sectors are struggling to fill vacancies, and it will be the onus on companies, to offer the most attractive package of notjust salary, but workplace practices, to attract the very best talent. absolutely, and even thinking about further than that, we will probably be able to see more companies casting the net a little bit wider when they are looking for talent anyway, so we may see people working in other countries and working for
companies in a different country in that respect. speaking as an economist, i suppose you will be very conscious that policies, workplace policies matter not just to the employees, but they matter to the shareholders who will be wondering if you let people work for a month abroad, they could be on they be as productive, and bring in as much profit? productivity is one thing, but also it's about the employee well—being, and then feeling more connected to work and feeling better about doing the job, so i guess there is a motivation element there as well, but ultimately, companies will need to judge whether this is making them more profitable or making them better at retention of staff that they want to keep, et cetera, so there is another element there, but as i said earlier this quite a lot of initial hurdles in terms of tax, data security,
insurance, et cetera, that they will need to overcome first. i quite like the idea of doing my job from the beach for a month each year, not quite sure how it would work though. thank you very much indeed. we will work on that one. stay with us here, and bbc news, still to come, the van maker which has major electric dreams, we will be hearing from the country that wants to become the tesla of commercial vehicles. the big crowds became bigger as the time of the funeral approached. as the lines of fans became longer, the police prepared for a huge job of crowd control. idi amin, uganda's brutal former dictator has died at the age of 80.
he's been buried in saudi arabia where he lived in exile since being overthrown in 1979. two billion people around the world have seen - the last total- eclipse of the sun to take place - in this millennium. it began itsjourney off the coast of canada, . ending three hours later when the sun set - over the bay of bengal. this is bbc world news, the latest headlines: 1,000 firefighters from across europe are helping greece battle wildfires that have now entered a second week. virginia roberts, an alleged victim of jeffrey epstein files a us lawsuit accusing prince andrew of sexual abuse.
the ippc report on climate change this week emphasised the need to cut carbon emissions, and to cut them quickly. 0ne sector which politicians in the uk and elsewhere are targeting is road transport. but while established carmakers have been struggling to develop electric vehicles quickly enough, others have spotted an opportunity — among them one particularly ambitious start—up based in the british midlands. the bbc�*s theo leggett sent us this report. yes, iam yes, i am driving a van, but notjustany man. yes, i am driving a van, but notjust any man. this one is electric, and it's built of carbon fibre, advanced plastics, to you and me. is the brainchild of arrival, an ambitious british start—up company. it has orders for 10,000 of these, and has electric taxis in partnership with cuba and is making electric buses stop you it was founded by a russian billionaire but it's currently listed on the us stock market with a market value of seven
and a half million dollars, but has never made a profit. so, is it worth the money? let's go and ask the boss. here he is, the chief executive of arrival automotive. is the hype around this company a little bit overdone? i this company a little bit overdone?— this company a little bit overdone? ., �* ,, .,~ ., overdone? i won't speak to whether — overdone? i won't speak to whether it _ overdone? i won't speak to whether it is _ overdone? i won't speak to whether it is hype - overdone? i won't speak to whether it is hype or- overdone? i won't speak to whether it is hype or not i overdone? i won't speak to l whether it is hype or not but we think it is completely unique amongst all of the vehicle manufacturers globally. we are positioned to dramatically change the vehicle manufacturing industry and over the last six years we have developed a whole range of technologies that will enable arrival to approach this industry and a very different way. industry and a very different wa . ., ., industry and a very different wa , ., ., ., " industry and a very different wa . ., ., ., ~ ., , way. you are making vans, buses, developing - way. you are making vans, buses, developing taxis. is way. you are making vans, - buses, developing taxis. is not exactly glamorous. why did you go down that path? i5 exactly glamorous. why did you go down that path?— go down that path? is widely acce ted go down that path? is widely accepted that _ go down that path? is widely accepted that electric - go down that path? is widely. accepted that electric vehicles are better because for operation advice of fuel vehicles. to be honest, we know this, they are crying out for a product to use in a large fleets. with retail vehicles you talk about range anxiety,
commercial fleet operators know what range they need for their vehicles day in, day out, it's not range anxiety, it is a range requirement. and the whole discussion around charging. fora whole discussion around charging. for a commercial fleet operator, the vehicles come back to a depo every night so you can install the charging infrastructure at the depo which is a much simpler problem to solve as compared to installing charging infrastructure everywhere in the public space. conventional wisdom in _ the public space. conventional wisdom in this _ the public space. conventional wisdom in this industry - the public space. conventional wisdom in this industry says i wisdom in this industry says you build as many vehicles as you build as many vehicles as you can as quickly as possible to keep costs down. with micro factories you are doing the opposite, why? why are you doing that?— opposite, why? why are you doing that? you are correct. i would argue _ doing that? you are correct. i would argue that _ doing that? you are correct. i would argue that in _ doing that? you are correct. i would argue that in a - doing that? you are correct. i would argue that in a large i would argue that in a large part it is driven by the enormous amount of capital. we took the opposite approach. we said how do you design the vehicle in the manufacturing process to bring that capital investment down dramatically? we can do a micro factory for $50 million approximately. at that investment level, we can afford to produce many fewer
vehicles and still have a better business case than traditional assembly. share better business case than traditional assembly. are you coin: traditional assembly. are you auoin to traditional assembly. are you going to be — traditional assembly. are you going to be the _ traditional assembly. are you going to be the tesla - traditional assembly. are you going to be the tesla of - going to be the tesla of commercial vehicles, going to be the tesla of commercialvehicles, is going to be the tesla of commercial vehicles, is that where you're headed? well, i'd like to be _ where you're headed? well, i'd like to be but _ where you're headed? well, i'd like to be but in _ where you're headed? well, i'd like to be but in the _ where you're headed? well, i'd like to be but in the end - where you're headed? well, i'd like to be but in the end the - like to be but in the end the customers will determine that. after many months in lockdown, shoppers in the uk returned to the high street in force. but the finallifting of all covid restrictions in england injuly was not quite the bonanza some retailers had hoped for — the recent growth in sales, while strong, is now slowing. the number of empty shops on the high street is still rising. so have we alljust got used to ordering online? joining me now is kyle monk, director of insights and analytics at the british retail consortium. why do you think there wasn't that used when we were all let cut to the high street to go out shopping?— out shopping? there is a combination _ out shopping? there is a combination of _ out shopping? there is a combination of factors. l out shopping? there is a i combination of factors. one out shopping? there is a - combination of factors. one is that non—essential retail has been open for quite a while now so the categories like fashion,
furniture, have been able to trade with covid restriction limitations for a —— for longer than the reopening injuly. weather played a part as well so the highly variable weather, lots of rain. what we're seeing is consumers been more accustomed to shopping online. they have instead moved online straightaway. we saw that during thejuly reopening. during the july reopening. sales during thejuly reopening. sales are up 6.4% overall for july which is an incredibly strong figure given all the disruption in the retail sector at the moment. 0nline sales essentially have meant that shops haven't performed quite as well as expected. [30 shops haven't performed quite as well as expected.— as well as expected. do you think that — as well as expected. do you think that is — as well as expected. do you think that is a _ as well as expected. do you think that is a permanent i think that is a permanent shift? the tendency to buy online? for example, we had some bad weather injuly, perhaps rather than wait and go two or three days later to the shops, they would say oh, i will order it online at home.
absolutely. covid has created some trends. perhaps some who would not have shopped online previously became very comfortable with those behaviours over lockdown. some of the sales were up 90% up. therefore it is now a viable alternative for the shoppers. people aren't deferring their spend, they are much more comfortable with the things that come with shopping online and therefore to switch the channels seamlessly instead of waiting as they did before. thtnd waiting as they did before. and has some big—name shops, gap said they wanted to shuttle stores by the end of september. what about with more vacant properties on the high street, drawing fewer shoppers to go and then other retailers decide well, we're going to leave the high streets as well. you well, we're going to leave the high streets as well.— high streets as well. you are absolutely — high streets as well. you are absolutely right. _ high streets as well. you are absolutely right. there - high streets as well. you are absolutely right. there is - high streets as well. you are absolutely right. there is a l
absolutely right. there is a critical mass of anchor stores and anchor brands that make it viable. high streets are in desperate need of investment. retailers can't really invest due to unfair cost burdens on them both in terms of business rates and previously rents, although we are seeing rental models change. fundamentally what we are asking is for government to review their rate systems so retailers can begin to invest but really, it will take property owners, government, all working together in order to stem some of this loss in shops because they become so much more difficult to operate given all of the various restrictions and changing behaviours.- of the various restrictions and changing behaviours. thank you very much" _ let's get some of the day's other news. apple has defended its new system that scans users' phones for child sexual abuse material, after a backlash from customers and privacy advocates. critics warned it could be a "backdoor" to spy on people,
and more than 5,000 people and organisations have signed an open letter against the technology. vodafone has become the second uk mobile company to reintroduce roaming charges for users travelling in europe. from january, new and upgrading customers will be charged at least £1 a day to use their mobile phone in eu destinations, on several tariffs. it follows similar plans from rival ee. david cameron made around $10 million from greensill capital before the finance company collapsed, documents obtained by bbc panorama suggest. the documents indicate the former prime minister received lt.5 million dollars after cashing in greensill shares in 2019. mr cameron's spokesman said his remuneration was a private matter.
first it was loo rolls, hand sanitiser and flour. now the uk is facing another troubling shortage — sheds. the increased demand for outdoor space has meant a surge in demand for the timber needed to make the sheds, and the global supply chain has been struggling to keep up. waiting lists are getting longer — and prices are going up. argos, b&q, and other companies are reporting many of their sheds are out of stock, with no real end date for supplies returning to normal. joining me now is retail analyst, kate hardcastle. why this shortage? assumedly timber is not as hard to get hold of a certain other things. it actually is. we are in the middle of a lumber crisis and experts have been warning about that since beginning the year. this comes down to a perfect storm of challenges. we have had some climate issues which have affected the supply chain, we do in the uk import 80% of ourward. we have we do in the uk import 80% of our ward. we have also had a huge surge in demand because the cabin fever of us being in lockdown as in many of us turn
to their home and want to start home build projects and actually expand out into our extra room, if you like. in the garden, and start to put a backend, extra items there. we have also seen generally home build projects around the world regenerate in this time which has put this huge demand, extra demand on a supply chain which is really struggling. when you add in that as well from logistics issues with shipping, distribution, everything has created the fact that we are in the great lumber crisis and that has a massive knock on effect if you are waiting for your shed. effect if you are waiting for your shed-— effect if you are waiting for our shed. ~ ., , ,., ., your shed. what is the solution for retailers? _ your shed. what is the solution for retailers? do _ your shed. what is the solution for retailers? do they - your shed. what is the solution for retailers? do they have - your shed. what is the solution for retailers? do they have to l for retailers? do they have to get more innovative with the designs? get more innovative with the desitns? ~ _, , get more innovative with the desitns? ~ , ., designs? when it comes to the su -l , designs? when it comes to the supply. it _ designs? when it comes to the supply. it could _ designs? when it comes to the supply, it could be _ designs? when it comes to the supply, it could be another- supply, it could be another couple of years because obviously planting a tree and going through that process is an immediate reaction that could take notjust a matter of weeks but a matter of years to take to catch up on itself, the industry is suggesting maybe
2023 the industry will get back to a point where the supply chain has got back into groups. when it comes to the inventiveness of your outdoor area and storage, you might have to think about ultimate materials. i think we have seen things, i mean, imagine having a garden big enough that using actual containers out there. i think we have also got to accept that this will be a material challenge if you are wanting your traditional woodshed, it is going to be something you might have to keep on the waiting list for. kate, thank you very much. you say to have a garden big enough for a container. for some having a garden at all, i suppose, to have any kind of a shed would be nice.— shed would be nice. exactly. kate, shed would be nice. exactly. kate. really _ shed would be nice. exactly. kate, really good _ shed would be nice. exactly. kate, really good to - shed would be nice. exactly. kate, really good to talk - shed would be nice. exactly. kate, really good to talk to i kate, really good to talk to you. that is about it for the moment was up you can reach me and most of the team here on social media. you will find me there @benmboulos. plenty more stories that we have covered as well, the website as well. go to bbc.com/news. if you are
watching on bbc one and the news channel, breakfast is coming up next. 0n bbc news, don't go away, back with the headlines injust don't go away, back with the headlines in just a few minutes. see you soon. well, many of us have had to endure days of torrential showers, the grass is sodden. what has happened to august, we wonder? i've got some good news — tuesday is looking sunnier and warmer than of late across most of the uk, not absolutely everywhere. we still have a few showers in the forecast in the short term. here's the unsettled weather recently. you can see the clouds spiralling across the uk, but we've got a gap in the weather. it's called a ridge of high pressure. there's a low which is heading our way, as well, but this ridge is going to settle things down on tuesday. so, what's tuesday, 6am in the morning looking like? a lot of fine, bright,
if not already sunny weather across the uk. 13 celsius in london, ten celsius in glasgow, just the stray shower here and there. how about the rest of the morning into the afternoon? so, lots of sunshine, especially across england and wales. in scotland, we are anticipating downpours and thunderstorms to form over the highlands, and they'll probably drift towards the east coast, and there's a chance of a few scattered showers just close to the north sea coasts and maybe 1—2 other areas. but other than that, it is going to be a predominantly sunny day with scattered fairweather clouds, light winds, and very pleasant temperatures. i suspect they will probably hit around 21t celsius in 1—2 spots on tuesday. now, here's a look at wednesday's weather map. a low is approaching with its weather front — here's the low out there. the weather front is approaching western areas of the uk, so the weather will go downhill. 0ut towards the west on wednesday, you can see the rain sweeping in — this is the morning in northern ireland, western parts of scotland, and other western extremities also get the cloud and rain, and a bit of a breeze, too. but eastern areas in the southeast should, at the very least, stay bright and actually quite
warm in norwich, up to 21t — that's because, ahead of weather fronts, we quite often have a southerly wind that's strengthening the breeze — not strong, just a light summer breeze keeping those temperatures high enough. now, the weather front moves through the uk on thursday, but notice there's hardly any rain on the weather front, it's literallyjust a line of cloud. that will introduce just slightly fresher conditions to western areas here, but staying warm in the southeast, up to around 21t—25 celsius. but in the northwest, closer to the centre of the low pressure, it will stay wet and, at times, windy.
good morning, welcome to breakfast with louise minchin and jon kay. 0ur headlines this morning. it's a—level results day, and the number of top grades is expected to rise when students in england, wales and northern ireland get their results. i'm confident in myself and i think future employers will be that this year — given how exceptional it was — it's the best result and the best approach we could have had. good morning, it is results day for those gaining professional qualifications. they have been training in... but have they done it during a pandemic and how these