tv World Business Report BBC News December 7, 2021 5:30am-6:01am GMT
isa is 3 sally is a sally bundock with the top business story. the uk introduces new travel walls to combat the latest variant. many in the industry day the new restrictions were clap —— create destruction. new york gets tough on its unvaccinated workers telling them to get jabbered or stay—at—home.
let's start in the uk because just over an hour ago, the new travel rules came into place. they will hope the it will stop the spread of the new omicron variant in the uk. all international travellers aged 12 years and over entering the uk are now required to show proof of a negative pcr or lateral flow test ta ken no earlier than 48 hours before departure. the news has dismayed the travel industry with some operators predict the tests could add between 400 to £800 onto the cost of a family holiday. let's talk this through with ian henderson, co—founder of halo which is a pcr testing company. this means business is booming again for
you presumably. it business is booming again for you presumably.— business is booming again for you presumably. it has been a busy week _ you presumably. it has been a busy week and _ you presumably. it has been a busy week and yes _ you presumably. it has been a busy week and yes it - you presumably. it has been a busy week and yes it has - you presumably. it has been a busy week and yes it has been quite tough because nobody had any warning of this ten days ago so we had to spin up our staff and ourlab ago so we had to spin up our staff and our lab pretty fast. how did you manage to meet the sudden demand? there is a huge flurry of activity when governments make these announcements and quite often travellers will jump announcements and quite often travellers willjump on travellers will jump on websites travellers willjump on websites and you can't get any further. ~ . , ., h, websites and you can't get any further. ~ . , ., ., further. we have seen about a tenfold increase _ further. we have seen about a tenfold increase in _ further. we have seen about a tenfold increase in traffic- tenfold increase in traffic over the last ten days. it is tough because this is complicated, sophisticated technology. we have two employ skilled staff and we have our own lab in london but fortunately because we did have our own lab and we have our own career system and our own technology, we were able to respond pretty quickly. but it
has been a big week.- respond pretty quickly. but it has been a big week. what do ou has been a big week. what do you charge — has been a big week. what do you charge for _ has been a big week. what do you charge for a _ has been a big week. what do you charge for a pcr - has been a big week. what do you charge for a pcr test? - you charge for a pcr test? between £59 which is for a walk in test at london heathrow, at terminal 5, two £89 and that does include couriers, secure results, our own lab and it is a split test not a swab test so you just spit in a tube which a lot of people seem to prefer. i lot of people seem to prefer. i can imagine they do. we are all getting a bit fed up with poking things up our nose and down our throats, aren't we. in terms of the worry on the part of travellers that your test is relevant, that it is approved by the uk, that when you get to the airport coming home you are not going to get prevented from boarding because you have the wrong type of test was not there is so much confusion and also the worry is you are going to get ripped off as a traveller because there are
many, many companies out there charging all sorts of prices. that is true and we are part of the trade body that was reported in bbc yesterday that there are quite a lot of providers who are perhaps less than scrupulous of their pricing and availability of tests which is as —— we tried to deliver a service. nobody wants to do this testing but we try to do that is painless and convenient and simple and open as we can. convenient and simple and open as we can-— as we can. thank you for being on the programme, _ as we can. thank you for being | on the programme, co-founder as we can. thank you for being i on the programme, co-founder of on the programme, co—founder of halo, ian henderson. there is so much more detail on the website about the new travel restrictions that have come into place. i have tweeted so to take a look if you need more info. taking a look at more business story. donald trump is
make deal to float his social media firm on the stock market is being investigated by wall street watchdogs. eager leaders are probing digital world acquisition with the firm set to merge with trump media and technology group. the exchange commission requested documents about its investors and trading. the boss of us firm has been criticised after he fired around 900 of his staff a single zoom call. the chief executive of mortgage firm better .com said market changes lay behind the mass firing of what he said was 15% of the company's workforce. however, compa ny�*s workforce. however, he company's workforce. however, he didn't mention that $750 million cash injection the company received from investors last week. tesco is facing potential disruption ahead of the key christmas period at more than half of its 22 uk distribution centres and lesser than —— unless an agreement is reached with its star. the union �*s s5000 of its members
had rejected a proposed 4% annual pay rise stop tesco is said to pay offer was fair. let's take a look at what is happening with regards to ever grand mac, the chinese property company. it has global markets on edge once again. the chinese property developer said on monday it was struggling to secure the funds. it had a deadline of monday evening to pay 82.5 million dollars in overdue interest. there still has been no confirmation on whether this payment was made or not. this firm still remains 300 alien dollars in debt stop victoria scholar is head of investment at interactive investor. good morning to you, victoria. once again, we are left hanging because if this company does go under or has to be radically restructured, it
has huge consequences, doesn't it? ~ , ., , has huge consequences, doesn't it? absolutely and there is no doubt that — it? absolutely and there is no doubt that evergrande - it? absolutely and there is no doubt that evergrande is - doubt that evergrande is teetering on the edge with shares down 20% on monday. we have seen a small bounce back today but stocks are still languishing at a record low and down about 90% since the january hi. there are fears that the fallout could spur a spin—off notjust in china but with shockwaves felt around global markets and it comes at a time where markets are alreadyjittery because of fears about what omicron could mean for the global economy. it mean for the global economy. if evergrande were to default and collapse, what with the knock—on effect be? collapse, what with the knock-on effect be? china's economy — knock-on effect be? china's economy is _ knock-on effect be? china's economy is already - knock-on effect be? china's - economy is already decelerating and its property sector accounts for around one third of china's economic output and it has been a key engine of debt fuelled growth so a default from evergrande would have contagion effect on individuals you may have deposits with the firm on businesses such as supplies and
materials which could default and also hundreds could be tied to the property giant which could lead to a credit crunch. there are concerns about other property developers in the sector as well if the downturn continues because there has already been about 11 defaults this year. sunshine 100 for example is a real estate giant which defaulted on its debt this weekend. 50 which defaulted on its debt this weekend. so therefore it would be. — this weekend. so therefore it would be, many _ this weekend. so therefore it would be, many would - this weekend. so therefore it would be, many would argue| this weekend. so therefore it i would be, many would argue it would be, many would argue it would be, many would argue it would be commonsense for the chinese government to intervene and it is therefore too to fail. your thoughts on that? it looks as though the authorities are already involved. evergrande has set up a risk management committee which included a number of state members. its central bank has injected liquidity for the second time sincejuly and there is involvement from local government as well but it is a difficult balance to strike because it has another campaign
to raise —— rain in corporate debt and has signalled its unwillingness to support a company that it believes it has been growing as drake speed and has been predicated on high levels of debt because of the property giant is proposing systemic risks china's economy and beyond, it would have no choice but to step in. ﬁk. choice but to step in. 0k. thank you _ choice but to step in. 0k. thank you very _ choice but to step in. 0k. thank you very much. - choice but to step in. 0k. thank you very much. victoria scholar, a story we're keeping very close eye on. as you have been hearing, the us has announced a diplomatic boycott of the 2022 winter olympics in beijing. the white house said no official delegation would be sent to the games because of concerns about china's human rights record. many are waiting to see if any sponsors will follow the us example and decide to withdraw from the games, too. rico oy in our asia business hub has the details. what are you hearing about this, mariko? we
what are you hearing about this, mariko?_ what are you hearing about this, mariko? we are talking about sponsors _ this, mariko? we are talking about sponsors like - this, mariko? we are talking i about sponsors like coca-cola, about sponsors like coca—cola, intel, toyota, panasonic and so on. really big names. i have reached out to some of them to see if they would respond to the latest announcement by the united states. toyota has replied to say they have no comment at this moment and to be honest, many of those sponsors have remained rather silent about the allegations of human rights abuses in china. it is a bit of a deja vu moment if you like because those olympic sponsors, especially those injapan, were under enormous pressure before the tokyo summer olympics and the games then were rather controversial because of the ongoing pandemic. at least japan has the support of the government around the world but with us officials boycotting the beijing winter games, those sponsors are once again under pressure and the issue of course is what the us describes as china's atrocities, human rights atrocities, in places like xinjiang and hong kong, is
much bigger than the pandemic itself. also you have the controversies surrounding the chinese tennis star peng shuai who accused a chinese official of sexual assault. the women's tennis association suspending all of its chinese tournaments despite the possibility of losing billions of dollars in revenues. it is a stark contract —— contrast to how the ioc has been handling it but as we know the olympics has become more about broadcasting rights and sponsorship money and for those companies they still have a huge presence in china which of course is one of the world's biggest markets for them though it is a big dilemma how they want to manoeuvre this. absolutely. mariko oi, in our bureau in singapore. you are with bbc news. still to come. it vaccinated or stay—at—home. new york tells its workers they must be vaccinated by the end of the month otherwise they will not be allowed to enter their workplace. john lennon was shot
at the entrance to the dakota building, in the centre of new york. there's been a crowd here standing in more or less silent vigil and the flowers have been piling up. the 14th ceasefire of this war ended at the walls of the old city of dubrovnik. this morning, witnesses said shells were landing every 20 seconds. people are celebrating the passing of a man they hold responsible for hundreds of deaths and oppression. elsewhere, people have been gathering to mourn his passing. imelda marcos, the widow of the former president i of the philippines, hasi gone on trial in manila. she's facing seven charges of tax evasion, estimated i at £120 million. she pleaded not guilty. the prince and princess of wales are to separate. a statement from buckingham palace said the decision had been reached amicably.
this is bbc news. the top stories. china hits back at america's diplomatic boycott of the winter olympics saying it is not in the spirit of the games. and president biden will hold video talks with vladimir putin later as fears grow of a potential russian invasion of ukraine. to new york next where workers in the private sector as well as the public sector will be required to have vaccines for top mare bill de blasio said the rule is the first of its kind in the country and will be in effect at the end of the month. —— vaccines. mayor bill de blasio. michelle fleury has more from new york.- de blasio. michelle fleury has more from new york. early on new york _ more from new york. early on new york was _ more from new york. early on
new york was the _ more from new york. early on new york was the centre - more from new york. early on new york was the centre of i more from new york. early onj new york was the centre of -- new york was the centre of —— epicentre of the virus. the man in charge of the big apple wants to make sure that doesn't happen again. new york city mayor bill de blasio announced all private businesses in the city will need to ensure all of their employees are vaccinated. the enforcement details will be released in the coming weeks. secondly, the mayor says children over five will need to have group of vaccines to dine indoors. bill de blasio described the aggressive measure as a pre—emptive strike ends the new variants in the holiday period and he is confident his mandate will survive the legal challenges which are sure to come. he has less than a month in office and his successor has not committed to the sweeping vaccine mandate yet. also an attempt by the biden administration to get all large employers in the country to require workers to get shots
or submit to weekly testing, well, that is stalled in court. new york city has previously imposed vaccine mandate for city workers but this will be the first of its kind for the private sector are. impacting 184,000 businesses. since brexit, the uk has been keen to strike free trade deals around the world including reaching an agreement with the us with annual trade currently worth around £200 billion a year. well, there may be an opportunity today because uk international trade secretary anne—marie trevelyan is in washington to meet catherine tie and members and congress to discuss deepening trade ties. let's talk this through with a professor of law at city university. really nice to see you again. so what hopes have you again. so what hopes have you got for these talks? because so far, they are not
bearing much fruit, are they between the us in the uk? it is an extraordinarily _ between the us in the uk? it 3 an extraordinarily difficult situation that the uk finds itself in, it has been told, even lectured to very clearly, very sternly by many sides of congress that everything to do with northern ireland, brexit, must be protected as far as possible and when allowed must enjoy an advantageous relationship with the european union and that is contingent to some degree, in some quarters as to the us steel and tariffs agreement, in recent times the uk has really been left out of the picture, so very clear statements in some context but it is also quite likely that some conciliation will take place, this is a very different form of administration, we've previously seen the uk, to receive better treatment after the european union, in the resolution of disputes, so
there is some signs of white smoke possibly on the horizon but certainly it has been made crystal clear that brexit is a very key issue for this administration and for many members of congress. and administration and for many members of congress. and what about this idea _ members of congress. and what about this idea of _ members of congress. and what about this idea of the _ members of congress. and what about this idea of the uk - about this idea of the uk perhaps doing trade deals with individual states, like for example new york and california?— example new york and california? this is a very interesting _ california? this is a very interesting and - california? this is a very interesting and very - california? this is a very - interesting and very difficult proposition as a matter of trade law, we see the big developments for example in the transatlantic context to tra nsatla ntic context to develop transatlantic context to develop trade and technology council's to look at the rules and standards to do with aland so on, the idea that individual states could be the solution to transatlantic trade going forward is something that is somewhat surprising with a lot of legal competence questions that suggest it is nothing less than a marketing exercise and that the bigger picture is much more problematic. mil that the bigger picture is much more problematic.— more problematic. all right, thank you — more problematic. all right, thank you and _ more problematic. all right, thank you and we _ more problematic. all right, thank you and we will- more problematic. all right, thank you and we will keep l more problematic. all right, i thank you and we will keep an eye on how those talks develop
today. and indian tech giant has had dizzying success during the pandemic adding millions of subscribers to its user base is schools remained closed. but from complaints about sales techniques and a high—pressure work environment, the bbc has learned of several allegations against the company as it pursued its hyper growth path. it has denied these allegations. it's the sponsor of the indian cricket team, and endorsed by bollywood's biggest superstar. but according to some, the online education company byjus is not without problems. translation: their sales representative _ problems. translation: their sales representative came - problems. translation: tia: " sales representative came home and asked my son lots of difficult questions which he couldn't answer. my child and they were completely demotivated after their visit.
this man's story is not unique. the bbc has spoken to several former employees and customers in our investigation into the company's selling to x. parental anger against byjus is growing, at least from some of it customers. their allegations: and online forums, scores of positive reviews and happy parents but also hundreds of complaints from unhappy customers. crow one denies all these allegations but there have been at least three cases where indian consumer codes were. settlements in these cases have been reached and the grievance redress or rate was as high as 98%. this man left
hisjob at byjus as high as 98%. this man left his job at byjus earlier this year after a two—month stint selling its courses. he claims there was pressure to reach unattainable sales targets and a profit at any cost culture. it does not matter if he is a farmer, it doesn't matter. we have to sell him. it has become a revenue generating machine at the cost of teaching students. in a response to the bbc, byjus said: the company also told us they have a renewal rate of 85% for their programmes and i know questions asked 15 day refund policy for products and anytime refund policy for services. the allegations against byjus have allegations against byjus have a particular resonance in a country like india where education is often the only
ticket up the social ladder. many parents here often pour their life savings into giving their life savings into giving their kids a leg up. critics of byjus argue it is time to crackdown these businesses, similar to how china has banned for—profit education technology companies. for-profit education technology companies-— companies. you see all these headhne companies. you see all these headline numbers _ companies. you see all these headline numbers with - companies. you see all these headline numbers with so - companies. you see all these i headline numbers with so many millions raised and the will�*s most valuable educational tech start—up, all of these are pointless vanity metrics. i think at some point we can't afford to forget, education, like healthcare, is a public code. ., ., ., code. for now, the government hasn't stepped _ code. for now, the government hasn't stepped in. _ code. for now, the government hasn't stepped in. many - code. for now, the government hasn't stepped in. many are - hasn't stepped in. many are making the case for online education companies to be held more accountable. now, let's switch gears and talk about you but because the right handling app but because the right handling app says it may be forced into charging its uk customers vat
at 20% after a judge ruled that uk private high taxi operators must make contracts with their customers. —— uber. the ruling could have far—reaching consequences for the industry another hire firms may also need to add vat. senior market analyst at aranda has the details. it is to be a major blow for uber, isn't it because theissue blow for uber, isn't it because the issue as it is all about price. it the issue as it is all about rice. , ., the issue as it is all about rice, , ., , ., the issue as it is all about rice. ., the issue as it is all about rice. , ., , ., ., , price. it is a blow for uber, it is a blow _ price. it is a blow for uber, it is a blow for _ price. it is a blow for uber, it is a blow for the - price. it is a blow for uber, it is a blow for the whole . it is a blow for the whole private hire industry in london and across the country, as we know when things have happened here in the uk, other countries are looking at issues as well so this is a massive blow for them and many companies in the space. ultimately many people use these apps because they are cheap and affordable, and if that stops being the case then you will start to see the users start to look at alternative options. start to look at alternative 0 tions. , ., start to look at alternative otions. , . . ., , options. they are cheap, affordable _ options. they are cheap, affordable and _ options. they are cheap, affordable and they - options. they are cheap, affordable and they are l options. they are cheap, - affordable and they are usually fairly convenient and if we have to set up contract with
the taxi operators, we may not be so keen to use them either, maybe. be so keen to use them either, ma be. .. , maybe. exactly. there alternative _ maybe. exactly. there alternative forms - maybe. exactly. there alternative forms of i maybe. exactly. there - alternative forms of transport across many cities across the country, across the world. it is the tube in london, there is obviously the bikes, et cetera that you can use across the city as well, and if taxis start to become unaffordable then people will use those other sources ultimately, uber and other companies do look at other ways that they can entice writers, whether that is through the technology offering, the convenience, but ultimately, it doesjust offering, the convenience, but ultimately, it does just come down to price so this is a massive blow.— massive blow. and it's interesting _ massive blow. and it's interesting that - massive blow. and it's interesting that this i interesting that this particular case we are looking at now, only applies in the capital currently, but the worry is on the part of uber that other authorities in the uk would just wallow suit. exactly, it would be extremely surprising if other avenues in the uk didn't follow suit on this and just left it to
london. obviously london is its most important city so it is worth noting that but other parts of the country are naturally going to follow suit. we can see for example in terms of how uber riders are viewed as employees now rather than contractors, that is something that has been looked at under the european union and i'm sure other countries as well since the ruling here in the uk, so now they imagine that this is going to be something that is looked at but in other countries too because ultimately acting as an agent is one idea, but if that comes at the expense of the rights of the drivers and what is now their employees, that it can be something that is going to be controversial in all countries, not just controversial in all countries, notjust here.— notjust here. 0k, thank you much. notjust here. 0k, thank you much- craig _ notjust here. 0k, thank you much. craig carolyn - notjust here. 0k, thank you much. craig carolyn there i notjust here. 0k, thank you l much. craig carolyn there with a look at that story and again details online. there is information about all the stories we've covered on our website. let's quickly show you financial markets in asia so you have a sense of how the trading day is progressing there. 2% gain injapan, strong gains in hong kong as well also
the price of oil up over 1% just shy of $74 a barrel. you are up to date, i will see you soon. hello there. we await the arrival of the second named storm of the season. storm barra will bring the worst of the weather during tuesday as windy weather develops widely. added to that later on snow and blizzards over some of the hills in the north. this is the centre of the storm approaching western parts of ireland. it will push a band of heavy rain northwards and eastwards across the uk. but ahead of that we start the day with a frost widely and some icy patches in western scotland and the northwest of england. a very cold start then. we've got that rain sweeping its way across northern ireland, wales and the southwest in the morning, the winds picking up as well. that will be followed by some sunny intervals in heavy, blustery showers in the afternoon as that band of wetter weather continues to push its way northwards and eastwards.
may make double figures again in the southwest but it's much colder elsewhere, especially northern england and scotland where into that cold air the rain will fall as snow. particularly in the hills, a couple of centimetres, peak district, pennines, cumbria and the fells. heavier snowfall, blizzards likely in the southern uplands and that snowy weather will work its way up into the highlands later on in the day as the main rain band sweeps away from eastern parts of england, heavy showers follow and it stays very windy. strongest winds are likely to be through the irish sea, english channel, gust 70, 80mph near coast. generally 40 or 50 or so but could get windier around some north sea coast in the evening. now, after steaming into the uk, storm barra isjust going to stall overnight and into wednesday, and it will weaken as well. wednesday is still a windy day, just not as windy. the strongest winds are going to be in south wales and the southwest of england. and around that area of low pressure, showers or longer spells of rain rotating with some brief glimpses of sunshine. but it's still cold, temperatures around 5—7 degrees. by the time we get to thursday our storm really
is no more. it's continuing to weaken, the winds are continuing to drop. this band of rain from the atlantic will arrive into northern ireland later in the day. but otherwise, it's a much quieter day on thursday. a fair bit of cloud around, many places are going to be dry, some sunshine at times but we're still in cold air, temperatures typically at sixes and sevens.
good morning, welcome to breakfast with sally nugent and dan walker. our headlines today. new covid travel rules have come into force, meaning anyone arriving in the uk now has to show evidence of a negative coronavirus test. the test must be taken in the 48 hours before travel. it's the latest inf measure aimed at curbing the spread of the omicron variant. dysfunctional and chaotic — a foreign office whistleblower delivers a damning verdict of the government's handling of the afghan evacuation. with hundreds of homes still without power eleven days after storm arwen, brace yourself for storm barra, with weather warnings in place across the uk. for storm barra, with weather