Skip to main content

tv   World Business Report  BBC News  August 3, 2017 5:30am-5:46am BST

5:30 am
this is bbc world news. the headlines: president trump has reluctantly signed off on new sanctions against russia, saying that the law was "significa ntly flawed." russian prime minister dmitry medvedev said the move was tantamount to declaring a full—scale trade war. venezuela has delayed swearing in members of a controversial new assembly which would replace parliament and rewrite the constitution. president nicolas maduro has been accused of pushing the country towards dictatorship. meanwhile, the firm which helped organise sunday's election says the results can't be trusted. weather warnings are in place across europe as summer temperatures reach potentially dangerous levels. the strongest heatwave of the year so far is predicted in the coming days hitting italy, france, spain, portugal and parts of the balkans. scientists have successfully repaired a faulty gene in human embryos for the first time. the us and south korean team used gene editing to correct dna that caused a deadly heart condition.
5:31 am
the breakthrough could help eradicate inherited diseases, but critics fear it could lead to the creation of so—called designer babies. and now it is time to join sally bundock for world business report. charged up! sales surge at tesla, but can it stay number one in electric cars as rivals plug into the business? plus hard labourfor nissan as workers in mississippi vote on the right to form a union after a ill—year battle. welcome to world business report. i'm sally bundock. it is good to have you with us. also coming up, the dow closes above 22,000 for the first time. we'll get the latest from the asian markets. but first: we start in california with electric car maker, tesla. investors have been taking a huge gamble on the company,
5:32 am
betting it's the future of the car industry, and pushing its share price ever higher. late last night, we got its latest set of results, and they haven't disappointed. let's show you why. in the three months to the end ofjune it made revenues of $2.8 billion. that's well over double what it made in the same period last year, and way more than wall street was expecting. it's still losing money, though, over $336 million in the three months. that's15% more than last year. but it wasn't as much as investors feared. some were worried about the speed tesla is burning through its cash pile as it builds its position in the car market, so, again, that's good news. and it's paying off. tesla says it delivered almost 26,000 vehicles over the period, a big jump of 40% on this time last year. and that number could soon be a lot higher. because of this. the tesla model three. with a starting price of $35,000, it's the company's first real mass market vehicle.
5:33 am
it has taken around half a million orders and the first cars were delivered last week. tesla hopes the model three will keep it here at the top of the electric car industry. but two chinese rivals are already in the top five, as well as nissan—renault. plus the german car giants are investing heavily as they try to put "dieselgate" behind them. one other very interesting fact, how the design of these cars is transforming the industry. the tesla model three has less than 7,000 parts. a traditional car has around 30,000. that makes it simpler to build and less likely to suffer supply chain disruption. when he spoke to the bbc last year, tesla boss elon musk predicted his company would transform the world of transport. i think all transport, with the
5:34 am
exception of rockets, will go fully electric. that's why i see the value of tesla as an accelerant, as a ca ta lyst of tesla as an accelerant, as a catalyst in that transition. i think tesla, maybe, when one looks back on it from a historical perspective, it might accelerate that transition by a decade, maybe more. i say he has cast a spell over wall street and investors. they were bigger than ford and ge at one point, but when you look at the numbers, it is incredible. these numbers, it is incredible. these numbers that came out overnight show us numbers that came out overnight show us they run the right track. that is right. there has been doubts in terms of delivery which has delayed things in past years. and now, model
5:35 am
three, the first handover was last week, they want to encourage investors they are on the right track. they are hoping to be making 2596 track. they are hoping to be making 25% gross margin next year. he is setting up the more expensive third models first. then he wants to increase production. there seems to be real momentum behind the electric car story. governments are changing policy. there is appetite for the ca i’s policy. there is appetite for the cars in the market. then there is infrastructure. in terms of that speed, of how this is moving and changing the industry, what are your thoughts? last week, the uk said they want all cars to be electrified by 20140, they want all cars to be electrified by 2040, not only electric, but hybrid. france said the same thing. germany were discussing it yesterday as well. we are going to see a big
5:36 am
roll out in the next few years in terms of every brand, german premiums, the big rivals to tesla, and we won't see them in 2019 in the uk. we have the audi quatro, carmakers people inherently trust. at that point, tesla will have more competition than it has now. in terms of the outlook for tesla, but also in terms of the outlook or the car industry, what is your thinking? tesla is definitely pushing the mass—market model now, which he has to. most admire it, but we cannot afford it. tesla has been a disruptor of this industry. many people had not even heard of electric cars when they came out. it has raised the game for the whole
5:37 am
electric car industry. and now we have to look at battery is. most ca i’s have to look at battery is. most cars in the next two years have a 310 mile range. most people could live with that. some on the market today only have 100 miles as a range. that makes people anxious they cannot get to where they want to go. infrastructure is the other thing is that the uk have recently announced big announcements in infrastructure to aid in that cause. thank you. there is more on line. you can find the whole interview as well. we are also in canton mississippi, where workers at nissan's factory vote today and tomorrow on the right to form a union. ahead of the deadline, tensions have escalated with the union describing it as "one of the nastiest anti—union fights" in us history. michelle fleury reports from canton, mississippi. they have launched this antiunion
5:38 am
campaign. we have done our research on the uaw. we are at a plant where we have to struggle and fight just to have the right to vote. the fight to have the right to vote. the fight to form a union at a nissan factory in canton, mississippi. we are fighting for the rights to rely on each other. for14 fighting for the rights to rely on each other. for 14 years, workers at this plant in canton, mississippi, have an engaged in a battle with management for the right to have a union. mississippi has typically been resistant to letting in unions. this time, workers here are hopeful they have a chance. i want a plan. i wa nt they have a chance. i want a plan. i want health and safety. equal opportunity. i got hurt and i have
5:39 am
been dealing without the whole time. so, it has been a rough process. i think the union would stand up for us. think the union would stand up for us. not everyone wants the union. the best thing that has happened for this state. we are campaigning hard to keep the uaw out of our plant. we don't need anyone to tell us how to don't need anyone to tell us how to do things. nissan has posted antiunion images inside the company, putting them in trouble with the board. they say voters have the right to know the company's prospective. for those that remember first—hand the south's troubled past, it is notjust work rights, it is civil rights. if you went to register to vote, someone might come out of their house wearing a hood. now they don't do that, but they
5:40 am
come by and say we are going to close the union, we are going to close the union, we are going to close the union, we are going to close the plant. vote yes! the union wa nts to close the plant. vote yes! the union wants to turn past failure in the success. wants to turn past failure in the success. victory here may spark the us labour movement across the south. michelle fleury, bbc news, canton, mississippi. let's talk about the financial markets now. the dow jones industrial average closed above 22,000 points for the first time in its 121 year history on wednesday. so has that euphoria continued in asian trading? sharanjit leyl shara njit leyl is sharanjit leyl is there for us. tell us sharanjit leyl is there for us. tell us about the euphoria in asia. that is correct. not much euphoria here. asian markets are going in the reverse direction to wall street, actually falling. 0nly because they have been surging to their highest levels in recent days. the highest levels in recent days. the highest
5:41 am
levels in recent days. the highest levels in a decade, actually. there has been profit—taking as a result. south korean shares saw their biggest fall since november, with samsung electronics wiping out any gains this week. it has not helped that the president of south korea is planning to raise taxes on big corporations. the us dollar is holding at two year lows. that is actually after the federal reserve expressed caution about interest rates. believe it or not, apple have had stellar results but are now having the reverse effects. asian suppliers have succumbed to profit—taking today. suppliers have succumbed to profit-taking today. 0k. it has to happen eventually. thank you, sharanjit leyl. happen eventually. thank you, shara njit leyl. it happen eventually. thank you, sharanjit leyl. it was good to see you. that was asia business report. we will see you later. research by bbc news has revealed that some mental health patients
5:42 am
are waiting more than three years to be discharged from hospital despite being medicalfit to leave. michael buchanan reports. i enjoyed doing these art things. it helps when i am bored. she lives with five other people in accommodation. the 32—year—old suffers from schizophrenia and a personality disorder. she has spent almost half a life inside a hospital. she moved here and loves it. arguments over who should pay for her care means she spent months longer in hospital that she needed to. i would see other people even performing. i thought i was ready for a long time. i am more equipped. but they seemed to get out quicker. many psychiatric patients would
5:43 am
recognise her experience. five patients waited more than three yea rs patients waited more than three years to be discharged. nearly 100 waited more than a year. more than 300 spent six months longer in hospital than they needed to. often people are in a revolving door of hospital placement and they don't get into community placement because it is too significant a step. by providing a comprehensive package of support, we hope to break that cycle. this complex is provided by a national charity. moving out of here and in the here. definitely. she says she will soon move into a small bungalow on the complex. a final step towards rebuilding her life. too many mental health patients are being denied a similar chance. michael buchanan, bbc news. coming up michael buchanan, bbc news. coming up at 6am on breakfast, you canjoin
5:44 am
charlie stayt and naga munchetty for more on that. this is bbc news. the latest headlines: president trump has reluctantly signed off on new sanctions against russia, saying that the law was "significa ntly flawed". the russian prime minister, dmitry medvedev, said the move was tantamount to declaring a full—scale trade war. venezuela has delayed swearing—in members of a controversial new assembly, which would replace parliament and rewrite the constitution. meanwhile, the firm which helped organise sunday's election says the results can't be trusted. now it's time for our newspaper review, where we take a look at what's making headlines around the world. this story widely covered
5:45 am
across the press: a breakthrough in gene editing — scientists have successfully modified human embryos. it has potential to eradicate inherited diseases such as cystic fibrosis and breast cancer. a big story stretching across news and sport: the football transfer of barcelona player, neymar, which stands to be a world record 222 million euro deal. the gulf news hints that the transfer could be more about politics and the 2022 qatar world cup.

44 Views

info Stream Only

Uploaded by TV Archive on