tv World Business Report BBC News March 14, 2017 5:30am-5:46am GMT
this is bbc world news. the headlines: britain has moved significa ntly closer to leaving the european union, after parliament approved a law allowing the government to trigger brexit. the process will be complicated by the scottish government seeking a second independence referendum. turkey has announced a series of sanctions in retaliation for a dutch decision to block its ministers from campaigning for a referendum. germany, austria and switzerland have also blocked rallies on security grounds. around 50 million people across north—east america are facing the worst snowstorms of the season. thousands of flights and trains have been cancelled, and several regions have declared a state of emergency. an independent congressional report has found president trump's planned changes to the health insurance law known as obamacare would reduce federal deficits, but leave an extra 1a million americans uninsured next year. now for the latest financial news, with sally bundock
and world business report. free to fire the brexit starting gun, but how prepared is the uk economy, and what about scotland? the waiting game. toshiba shares plunge in tokyo, as it delays its results announcement for a second time. welcome to world business report, i'm sally bundock. also in the programme: a smart jacket, and we are talking the latest technology, not style. dave lee tries it on. but first:
the uk parliament has approved legislation giving prime minister theresa may the power to begin formal divorce talks with the european union. however, she won't do that immediately, as some had thought, but it will happen before the end of march. the negotiations will bring a period of uncertainty for the uk economy. britain recorded growth of 2% last year. but in 2017, the international monetary fund predicts this will slow to 1.5%, though this is actually up from their previous estimate of 1.1%. the story gets worse in 2018, where growth is expected to come
in atjust1.4%. the ongoing uncertainty has also taken its toll on the currency. since the referendum lastjune, the value of the pound has fallen over 18% against the us dollar. the weakness in sterling has made imports into the country more expensive. in the three months ending injanuary, fish prices rose 8.8%, tea prices were up 6%, and butter prices rose some 15.8%. the negotiations will take place as eurosceptic political parties gain ground across much of the continent. the netherlands is set to head to the polls tomorrow, with france and germany both set to face national elections in coming months. carsten nickel, managing director
europe, teneo intelligence joins me now. we have heard a lot already in this programme about what people think about this in the united kingdom. what is the view now in europe, given the fact that article 50 is likely to be triggered very soon? well, i think the key point, the key word, is the one that you just mentioned. it is uncertainty. so i think the whole question of the scottish independence push obviously adds an additional layer of uncertainty, just in a moment when we should have really gained slightly greater clarity from the uk side about the brexit process that is about to start now. so i think it is about to start now. so i think it is still very much a wait and see a approach from the european side, and i think there is no expectation for
greater clarity until the end of 2017, really. as you say, the news coming from scotland, that it is looking for a new referendum on its position in the united kingdom, it throws in a brand—new curveball, which makes things that much more complicated, given the fact that europe as well has an extremely interesting year ahead with the various general elections i have mentioned. it means these negotiations will be extremely critical, doesn't it? yes, and again i think what we are going to see in 2017 is a pretty high—level conversation about a couple of points. 0ne conversation about a couple of points. one that we have been frankly reading about in the media quite a bit over the last weeks and months, is the £60 billion brexit bill, the question of residents writes for eu citizens and vice—versa. i think the really thorny issue for the uk and the eu relationship, free trade agreements, the future of freedom of movement,
these kinds of issues, they will not be discussed until 2018 because only european side the question is, you know, who is going to lead france, who is going to leave the netherlands, what about the next german government? i think these are crucial questions on the scottish question raises the question of separatism in other member states of the european union. so that will further complicated the talks ahead in 2017 and 2018 -- further complicated the talks ahead in 2017 and 2018 —— further complicate. while politicians try and win the election and economists predict what will happen next, how oui’ predict what will happen next, how our business is navigating this uncertainty from your point of view? well, that is really difficult to say at this point. again, it is a very much wait—and—see approach because i think there is a strong sense that a serious conversation about what is ahead in the future won't really began before 2018. in the way the political —— in a way,
the way the political —— in a way, the political conversation in 2017 will be backwards looking, looking at the legacy of uk membership in the eu. what will be ahead is not going to be discussed until early next year, so i think that really complicated makes it very difficult for businesses to take a really forward—looking view here. for businesses to take a really forward-looking view here. very interesting. thank you very much for your time. there is a lot more to discussed in this story, and we will touch on some of that in our newspaper review. it is all about the papers, worldwide. shares of japanese conglomerate toshiba have fallen 8% in tokyo. that is after the company announced it will extend the deadline for submitting its earnings report, for the second time. sharanjit leyl is in our asia business hub in singapore. as second delay, that does not bode well at all in terms of what it will tell us when it finally announces what is going on. that's right, doesn't bode well. but unusually, for its shares, you mentioned it had
fallen as much as 8%. it has scaled back those steep losses after announcing that earnings delay. the firm essentially asked regulators to extend the march 1a deadline for official earnings to a little later. they will be holding a news conference about this later on to clarify things for investors. but essentially the first time they delayed their earnings was in february. doing so again, there were disagreements with its auditors in fabric, when its chairman stepped down, and all this because they are expecting a $6 billion write—down. some of its us nuclear assets not worth as much as previously estimated, the situation leading many estimated, the situation leading ma ny a nalysts to estimated, the situation leading many analysts to warn that the country's future is at risk —— company's country's future is at risk —— compa ny‘s future is country's future is at risk —— company's future is at risk. this extension will need regulatory approval and failure to attain that would mean it needed to submit earnings by the end of the month or face delisting from the stock
exchange. toshiba is often associated with its technology products but it is now a diverse conglomerate. its nuclear service business brings in the third of its revenue and yet that side of the business has not been making a profit since 2013. nuclear services worldwide are struggling since the fukushima disaster of 2011. in december the said they faced a heavy 1—off loss due to its nuclear subsidiary, westinghouse electric. since that announcement in december, the shares have lost more than half of their value. thank you for bringing us up to date. thousands of tech leaders, policy makers and celebrities have flocked to texas, and notjust for its famous barbeque and breakfast burritos. the annual south by southwest conference and festival is in full swing, and our north america technology correspondent dave lee sent this report about the coolest thing he has spotted at the event. the goalfor google is
the goal for google is to the goalfor google is to provide oui’ the goalfor google is to provide our customers the goalfor google is to provide oui’ customers access the goalfor google is to provide our customers access to their favourite services and information from everywhere and anywhere and at any time. whenever they are biking 01’ any time. whenever they are biking or walking or hiking or their hands are busy, they should be able to access their favourite services, literally from the cuff of your sleeve. tell us what exactly is on my cuff here, and how it works? what we have is a woven interface integrated into the cuff material and the threads which capture your gestures integrate together, and are transferred to this little tag that we just transferred to this little tag that wejust snap transferred to this little tag that we just snap on. you transferred to this little tag that wejust snap on. you can transferred to this little tag that we just snap on. you can see transferred to this little tag that wejust snap on. you can see it is 110w wejust snap on. you can see it is now bluetooth head. a simple brush brings you the time. it to 30 seven p.m.. time the destination. your eta
is six minutes. you can control the music. bidders is 2:37 p.m.. -- it is 2:37 p.m.. that is quite expensive. it is a nice jacket, but it feels quite pricey. how much of that money is going on connectivity? so it is going to be about $150 without the additional technology and we think that this is a really useful piece of performance opportunity. this is what people need when they are on their bikes. $350 price point is kind of where we go when we have really advanced technology in our clothes. so what do you make of that? send me your thoughts on twitter. it brings a whole new meaning to that is a smart new jacket, doesn't it? whole new meaning to that is a smart newjacket, doesn't it? i will see you soon. it is claimed the amount of exercise children do starts to decline
when they are as young as seven. researchers at the university of strathclyde tracked the activity levels of more than 400 girls and boys over an eight—year period, up to the age of 15. jane dreaper has more. children are supposed to be active foran hour children are supposed to be active for an hour every day, but most youngsters don't get enough exercise, and this study suggests bad habits start at an earlier age. more than 400 children from gateshead war and activity monitor for a week at a time. their exercise levels were measured at the ages of seven, nine, 12 and 15. physical activity dropped off from the age of seven onwards in boys and girls. the orthodox view is that this adolescent decline is not only something which happens at adolescence, so it coincides with puberty or with transition to high school, but also it is something
that particularly affects girls. and oui’ that particularly affects girls. and our study shows that that is clearly not the case. i think what that means in terms of public health programmes as programmes and policies and practices all have to focus much earlier. probably around about the time children go to school. too much time looking at screens and sitting down is storing up screens and sitting down is storing up health problems for the future, according to public health england. it is campaigning to try and change the fact that one in five children leaves primary school obese. it is claimed the constant churn in government policies generates huge waste and little progress. the institute for government highlighted how new departments and the introduction of multiple strategies is costing millions of pounds. it warns constant reinvention is high, in human as well as economic terms. a campaign is being introduced to crack down on the aggressive tactics used by bailiffs in england and wales. five charities, including the money advice trust, say there are still widespread problems with their behaviour towards vulnerable people, despite government reforms announced in 2013.
the top stories this hour: britain has moved significantly closer to leaving the european union, after parliament approved a law allowing the government to trigger brexit. the process will be complicated by the scottish government seeking a second independence referendum. turkey has announced a series of sanctions in retaliation for a dutch decision to block its ministers from campaigning for a referendum. germany, austria and switzerland have also blocked rallies on security grounds. around 50 million people across north—east america are facing the worst snowstorms of the season. thousands of flights and trains have been cancelled, and several regions have declared a state of emergency. now it is time for our news review.
what's making headlines around the world ? the scottish first minister nicola sturgeon is featured on many of the british papers this morning — including the guardian. she's demanded a second referendum on scottish independence. the paper says that the announcement upstaged theresa may's brexit plan. the top story on the website of the new york times looks at the new republican healthcare plan. it reports budget analysts as saying the bill would leave 24 million people without health insurance by 2026. saudi arabia's king salman has met prime minister shinzo abe in tokyo — the first visit by a saudi arabian king tojapan in 46 years.